Essay about Mt435 - Albatross Anchor Case Study Unit 3...

Unit Three Written Assignment Kelli-Michelle Evans MT435 Operations Management Kaplan University May 8. 2013 Introduction Before we begin, I wish to say thank you on behalf of KU Consulting for giving us the opportunity to present this proposal to your company. We understand that you may not agree with all of the ideas presented. However, we are willing to work with you to come up with solutions to your current issues that work within your budget and thought process. We only ask that you read our proposal and approach it with an open mind. Question One 1. Cost a) Cost of Production: At the moment Albatross Anchors produces two types of anchors, the bell anchor and the snag hook anchor, at cost of $8.00/pound†¦show more content†¦As a result of this and the age of the production equipment turn around for orders can be three to four weeks. If the process takes too long a competitor can take away business. Especially if the competitor has a factory that is more up to date with their technology and processes. 3. Flexibility in filling order(s) At the present time Albatross has very little flexibility in filling orders. As stated above, the turnaround time to switch machines over is very long. With each anchor and the age of the equipment, order take too long to fill. 4. Technology An effective design process should: 1. match product or service characteristics with customer requirements 2. ensure that customer requirements are met in the simplest and least costly manner 3. reduces the time required to design a new product or service 4. minimizes the revisions necessary to make new designs workable This all relates to technology. When the technology is up to date it reduces process times and in the end it helps to create more profit for the company because work is done faster, customer needs are met in a timely fashion and there is less waste. 5. Capacity and facilities At present the layout of the Albatross Anchor factory is not at all efficient. In order to be efficient the factory should ensure an easy flow of work, material, people and information. In the current state the raw materials are too far away from the foundry, the finished productsShow MoreRelatedAlbartoss Anchor Unit 6 Essay1382 Words   |  6 Pages Unit six Written Assignment Your name MT435 Operations Management Kaplan University Date Introduction Albatross Anchor has been in family owned business that has been in business since 1976. They are manufacturer of bell/mushroom anchors and snag hook anchors. Albatross Anchor facing many operational challenges due to the inefficiencies of their facilities and the way they process orders and since they are only sells their products wholesale; they are unable to increaseRead MoreAlbatross Anchors Unit 6 Mt435 Essay1462 Words   |  6 PagesUnit Six Written Assignment MT435 Operations Management January 22, 2013 Introduction Albatross Anchors can change several things to make their business more productive than it has been. They opened in 1976 with only four family members and now employ 130 people; this alone shows massive growth over the past 35+ years. By only selling at a wholesale level, this means that they produce and sell in mass amounts and therefore their supply chain and manufacturing process is extremely importantRead MoreEssay on Mt435-Unit 6 Albatross Anchor2025 Words   |  9 PagesUnit six Written Assignment Albatross Anchor Operational Changes Farima Thomas MT435 Operations Management Kaplan University 12/17/2012 Albatross Anchor Operational Changes Introduction Albatross Anchors is a small family owned business that began in 1976. The company has grown exponentially over the years with more than one hundred and thirty employees. As the company grew, their operational issues in the production and administrative area grew as well. The organization

Csr in British Petroleum and Exxon Mobil - 10051 Words

1. INTRODUCTION The energy sector is generally driven by the price of crude oil. Recent trends of reviving global economy, increasing demand for energy, and political turmoil in oil-producing regions, have seen oil prices soar (to more than $55 a barrel in 2004), thus causing industry rebound. Higher prices have reached most of the industry Ââ€" producers, refiners, pipeline companies, equipment makers, oil field service providers, and gas station operators - which have all enjoyed new profits. Leading the charge are the world s largest integrated oil companies: Exxon Mobil, BP, and Royal Dutch/Shell (Yahoo Finance, Industry Profile). British Petroleum (BP) is of one of the world s largest energy companies, providing its customers with†¦show more content†¦Many petroleum companies recognise, for example, that their prospects of gaining new licences or access to new commercial opportunities are significantly enhanced by showing that governments, partners, and suppliers want to work with them on non-financial as well as commercial criteria. With respect to the areas of concern identified above, we can extinguish a number of issues and challenges faced by the companies operating in the energy sector. These issues are of particular importance when considering investing into the oil and gas industry and are likely to be looked at by rational and socially-responsible investors. While it is quite popular to categorise CSR challenges into long-term and short-term ones, such segregation is of little value when talking about the petroleum and gas sector. Due to the specifics of the sector, most of the projects undertaken by energy companies have considerably long duration and thus are faced by challenges bound to last for a long time. Therefore, it can be concluded that most of the CSR issues in the energy industry (or at least the main ones from the socially- responsible investor s point of view) are long-term, thus the companies must work gradually and consistently in order to try to assure the best practise all along. The main challenges to the sector are presented below. 1. Petroleum companies are becoming increasingly more concerned with the question as to whether theShow MoreRelatedSocial, Cultural and Environmental Responsibility of Corporate Business Leaders1482 Words   |  6 Pagesintegrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. 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Areas of Specialization in Psychology Free Essays

Areas of Specialization Number |Subjects of study in psychology |Areas of specialization in |Definition and key points of this |Rationale (reason why you matched |Possible research method of | | | |psychology (match with below |specialization (be sure to use |this subject of study with this |study (experimental, | | | |options) |professional sources) |specialization in psychology) |correlational, observational, | | | | | | |case study, interview) and why | | | | | | |this one may fit the best | |1 |Studying the causes of aggression in |Social |Study of how people behave in |Social Psychology would help |I would say experimental, | | |reaction to others in their environment. | |social environments, study how |explain why someone would become |because it is a preferred way to| | | | |friendships develop, what causes |aggressive in their environment. |study behavior. We will write a custom essay sample on Areas of Specialization in Psychology or any similar topic only for you Order Now | | | | |aggression and how prejudices are | | | | | | |formed. Argosy University, 2013) | | | |2 |Studying the period when a newborn child |Developmental |Study of human development. |When a child recognizes their |Naturalistic method because | | |recognizes his or her parent. | |Study factors that shape human |parent would be considered a |really the only way to see when | | | | |behavior from birth to |developmental behavior. |a newborn recognizes their | | | | |death. (Argosy University, 2013) | |parent is to observe them. |3 |Sharing some research about the best |Industrial and organizational |Study of factors that affect |Work place stress would affect |Questionnaire because it can | | |strategies to manage work place stress. | |people in organizations. Identify |performance at the work place, |handle and works well for any | | | | |factors that affect performance. |which would fall under this |large group of people. | | | | |Development of employee skills. |category. | | | | |Job analysis. (Argosy University, | | | | | | |2013) | | | |4 |Determining which chemical or |Neuropsychology |Attempt to study the human brain |Seeing what neurotransmitter |Experimental will help show | | |neurotransmitter might be activated when | |and its impact on human behavior. coffee would affect would have to |cause and effect between | | |people use coffee as a memory or | |Would try to figure out what |do with studying the brain and the|variables | | |performance â€Å"enhancer†. | |chemicals or neurotransmitters |effects of certain chemicals on | | | | | |were responsible for our emotions |chemicals or neurotransmitters | | | | | |or something like anxiety. (Argosy | | | | | |University, 2013) | | | |5 |Reviewing the thought process of someone |Cognitive |Study and work with how each |Seeing how someone has come to |Experimental because it can show| | |who has difficulties remembering things | |individual stores, transforms, |have difficulties long-ter m would |the cause and effect which may | | |long-term. | |uses and communicates information. |fall under the category of |be beneficial. | | | | |Works with how we remember things |communicating or storing | | | | | |, and how we decide(Argosy |information. | | | | |University, 2013) | | | |6 |Methods to gain possible diagnoses in |Clinical |Work on diagnosis, understanding, |In order to understand and help |Case study because one could | | |efforts to understand emotional problems. | |and treatment of severe emotional |diagnose emotional problems one |gather a lot of information on a| | | | |problems, mental problems, and |would need to study emotional |case to case basis that would | | | | |behavioral problems but have no |problems. aid in understanding emotional | | | | |medical degree. Don’t rely on | |problems based on people’s | | | | |medicine. | |individual experiences | Use these as the possible specializations to use in the above chart: Clinical psych ology or Clinical Psychologists Health psychology Biological psychology or Neuropsychologists Developmental psychology Social and personality Cognitive psychology How to cite Areas of Specialization in Psychology, Papers

Scouting for Reality Essay Example For Students

Scouting for Reality Essay To Kill a Mockingbird by Harper Lee is a journey through reality for Scout Finch and her brother Jem. The plot takes place in 1933 overlooking the case of a black man, Tom Robinson, who is fighting for justice after being wrongly accused of raping a white woman. Tom Robinson is being defended by Atticus Finch, the only lawyer that would stand up for the black man. He tried vigorously to defend Tom, but despite his diligent efforts the all white jury comes up with the verdict guilty. Throughout the experience with Mrs. Dubose and Arthur Radley, the main character, Scout, greatly matures, and she learns not to accept her illusions of reality until she finds reality itself. Scout thinks that Mrs. Dubose is a mean, old and vicious woman who has nothing better to do than bicker at them when they walk by. Scout even goes to say â€Å"She was horrible. Her face was the color of a dirty pillowcase, and corners of her mouth listened with wet, which inched like a glacier down the deep grooves enclosing her chin. Old-age liver spots dotted her cheeks, and her pale eyes had black pinpoint pupils. Her hands were knobby, and cuticles were grown up over her fingernails† (122). On the contrary, Mrs. Dubose is totally different; she is a dying woman who wants to get rid of her morphine addiction before she dies. Furthermore, through this experience, Scout learns to be tolerant against slander. Also, throughout the whole event, Scout’s maturity greatly increases as she learns what it means to be truly brave. Atticus even goes to say â€Å"she was the bravest person I ever knew† (128). In addition she also displays this courage when she stands in front of mob next to the jail which held Tom Robison. In the end, this lesson helps Scout in the duration of the Tom Robinson case. Scout learns and matures greatly during her experiences with the Radley house. Arthur Radley more commonly known as â€Å"Boo Radley† to Scout is a scary ghostly person. Moreover he is described by the town as â€Å"malevolent phantom† and they even say â€Å"When people’s azaleas frozen in a cold snap, it was because he had breathed on them† (9). However, Boo Radley turns out to be a very kind and innocent person who was harmed by his cruel father Nathan Radley. Boo shows his kindness by covering Scout at the fire, sending her gifts in the pot hole and saving her and Jem from Bob Ewell. Her maturity increases as she shows her understanding that a person should not harm those who have only done good deeds. In others words, she knows Boo is a mockingbird and bringing him to trial would be similar to killing one. Finally, she realizes that she has prejudice inside of her, and she realizes that she should not judge people by color of skin or how wealthy the f amily is but by the person itself. To sum it up, Scout, as an immature child, looks at everything through appearance and judges it in the same manner. Just how the jury in the Tom Robinson case, judges Tom by the color of his skin. However, once she looks into the illusions of hers, she finds reality and stays true to Atticus advice â€Å"You never really understand a person until you consider things from his point of view . . . until you climb into his skin and walk around in it† (33). Finally the lessons that Mrs. Dubose and Boo Radley taught Scout are valuable teachings of life which she will express and use throughout her whole life.

Platinum Essays (896 words) - Chemical Elements, Transition Metals

Platinum I am a silvery metal that is as resistant to corrosion and tarnishing as gold. I am almost as rare and consequently am the likewise highly valued and used in Jewelry. I am also used in chemicals industry as a catalyst, in medicine as an anti-cancer drug, and in catalytic converters for car exhausts. I have an atomic number ok 78, my atomic weight is 195.09 (when rounded 195) and a symbol of Pt. Who am I? I'm platinum of coarse! Platinum is a member of the six transition elements in Group VIII of the periodic table known collectively as the platinum metals (ruthenium, rhodium, palladium, osmium, iridium, and platinum). The name is derived from the Spanish platina, meaning, silver. The element was discovered in South America independently by Antonio de Ulloa in 1735 and by N. Wood in 1741, but it had been in use by pre-Columbian Indians. The platinum metals are extremely rare elements; platinum itself is the most common, with an abundance in the Earth's crust of about a millionth of 1 percent, whereas the others of the group have abundance's of about one ten-millionth of 1 percent. Platinum occurs in nature as the pure metal and also in alloys with other metals of the group, principally in the alluvial deposits of the Ural Mountains, of Columbia, and of some parts of the western United States. In addition the element occurs in the mineral sperrylite and in the nickel-bearing deposits of Ontario in Canada. The large-scale production of nickel makes it feasible to recover the small amounts of platinum (only 1 part of platinum to 2 million parts of ore). The recovery of the individual platinum metals from the natural alloys is a complex process that depends upon the distinct properties of the individual elements, even though all members of the group are generally similar in their chemical behavior and are quite unreacti ve. For example, when the natural alloy of platinum, palladium, osmium, and rhodium is digested with aqua regia, the palladium and platinum dissolve and are extracted as a solution of chloropalladic acid and chloroplatinic acid. Platinum is then precipitated from this solution as ammonium chloroplatinate. Platinum is an attractive silvery white metal with a melting point of 1,774 deg C, a boiling point of 3,827 deg C and a density of 21.45 g/cu cm at room temperature. It has a coefficient of thermal expansion close to that of soda-lime-silica glass and is consequently used to make sealed electrodes in soft-glass systems. The predominant oxidation states of platinum are +2 and +4. Platinum is chemically inert and will not oxidize in air at any temperature. It is resistant to acids and is not attacked by any single mineral acid but dissolves readily in aqua regia. The metal is rapidly attacked by fused alkali oxides and by peroxides and will react with fluorine and, at red heat, with chlorine. On heating, platinum combines directly with elemental phosphorus, silicon, lead, arsenic, antimony, sulfur, and selenium, a fact that influences the use of platinum laboratory equipment. In keeping with the other members of the platinum group, the metal shows a fairly strong tendency to form complex ions. The most common Pt (II) complexes have square planar structures and are diamagnetic. Because of its inertness and attractive appearance, one of the major uses of platinum is in the manufacture of jewelry. Gold-platinum alloys, referred to as white gold, are widely used in dentistry and in the making of jewelry. Platinum and its alloys are used in the manufacture of crucibles and evaporating dishes for chemical analyses. Other applications include the formation of thermocouple wires, electrical contacts, corrosion-resistant apparatus, and the manufacture of platinum resistance thermometers used in the temperature control of furnaces. The alloy, consisting of 76.7% platinum and 23.3% cobalt by weight, forms an extremely powerful magnet. More recent applications of the metal involve the coating of missile cones and jet-engine fuel nozzles. Along with palladium, the metal absorbs large volumes of hydrogen, retaining it at ordinary temperatures but desorbing it at red heat. The fact that the absorbed hydrogen is extremely reactive suggests that it is present either as atomic hydrogen or as a very reactive platinum-hydrogen compound or complex. In finely divided form platinum

Profile and Common Characteristics of a Pedophile

Profile and Common Characteristics of a Pedophile Pedophilia  is a psychiatric disorder in which an adult or older adolescent is sexually attracted to young children. Pedophiles can be anyone- old or young, rich or poor, educated or uneducated, non-professional or professional, and of any race. However, pedophiles often demonstrate similar characteristics. These are merely indicators and it should not be assumed that individuals with these characteristics are pedophiles. But knowledge of these characteristics coupled with questionable behavior can be used as an alert that someone may be a pedophile. Profile and Behavior Often male and over 30 years of age.Single or with few friends in his age group.Some  have mental illness, such as a mood or personality disorder.If married, the relationship is more companion based with no sexual relations in the early stages.Vague about time gaps in employment which may indicate a loss in employment for questionable reasons or possible past incarceration.Often talk to or treat children like adults. Interests and Hobbies Often fascinated with children and child activities, appearing to prefer those activities to adult oriented activities.Often refer to children in pure or angelic terms using descriptive words like innocent, heavenly, divine, pure, and other words that describe children but seem inappropriate and exaggerated.Hobbies are childlike, such as collecting popular expensive toys, keeping reptiles or exotic pets, or building plane and car models. Specific Age Targets Specific age of child they target; some prefer younger children, some older.Often his environment or a special room will be decorated in child-like decor and will appeal to the age and sex of the child he is trying to entice.Often prefer children close to puberty who are sexually inexperienced, but curious about sex. Relationships In most cases, the pedophile  turns out to be someone known to the child through school or another activity, such as a neighbor, teacher, coach, member of the clergy, music instructor, or babysitter. Family members like mothers, fathers, grandmothers, grandfathers, aunts, uncles, cousins, stepparents, and so on may also be sexual predators. Employment The pedophile will often be employed in a position that involves daily contact with children. If not employed, he will put himself in a position to do volunteer work with children, often in a supervisory capacity such as sports coaching, contact-sport instruction, unsupervised tutoring or a position where he has the opportunity to spend unsupervised time with a child. The pedophile often seeks out shy, handicapped, and withdrawn children, or those who come from troubled homes or underprivileged homes. He then showers them with attention, gifts, taunting them with trips to desirable places like amusement parks, zoos, concerts, the beach, and other such places. Pedophiles work to master their manipulative skills and often unleash them on troubled children by first becoming their friend, building the childs self-esteem. They may refer to the child as special or mature, appealing to their need to be heard and understood, to then entice them with adult activities with sexual content like x-rated movies or pictures. Grooming like this often goes along with consumption of alcohol or drugs to hamper the ability to resist or recall events that occurred. Minor children cannot consent, and sex without consent is rape. Stockholm Syndrome It is not unusual for the child to develop feelings for the predator and desire their approval and continued acceptance. They will compromise their innate ability to decipher good and bad behavior, ultimately justifying the criminals bad behavior out of sympathy and concern for the adults welfare. This is often compared to Stockholm Syndrome- when victims become attached emotionally to their captors. Friendship With Parents Many times pedophiles will develop a close relationship with a single parent in order to get close to their children. Once inside the home, they have many opportunities to manipulate the children- using guilt, fear, and love to confuse the child. If the childs parent works, it offers the pedophile the private time needed to abuse the child. Fighting Back Pedophiles work hard at stalking their targets and will patiently work to develop relationships with them. It is not uncommon for them to be developing a long list of potential victims at any one time. Many of them believe that what they are doing is not wrong and that having sex with a child is actually healthy for the child. Almost all pedophiles have a collection of pornography, which they protect at all costs. Many of them also collect souvenirs from their victims. They rarely discard either their porn or collections for any reason. One factor that works against the pedophile is that eventually the children will grow up and recall the events that occurred. Often pedophiles are not brought to justice until such time occurs and victims are angered by being victimized and want to protect other children from the same consequences. Laws such as Megans Law- a federal law passed in 1996 that authorizes local law enforcement agencies to notify the public about convicted sex offenders living, working or visiting their communities, have helped expose the pedophile and allows parents to better protect their children.

Problem Solving Approach to Patient Care Essay Example | Topics and Well Written Essays - 2500 words

Problem Solving Approach to Patient Care - Essay Example Jones since it is holistic and is concerned with how disease progress alters the activities of daily living of the patient. Upon applying the RLT model on Mr. Jones, three problems have been identified: eating/ drinking, mobilization, and death and dying. The nursing model will be implemented for the preparation of the nursing care plan since it is not only a holistic mode, it is also flexible, accessible, and hence can be modeled to suit the specific needs of the client. Respect of Mr. Jones and his preference in care and partnership with other health practitioners will be inculcated in this assignment. At the end of the assignment, care accorded to Mr. Jones with the help of the RTP model will be evaluated and a reflection of my nursing management delineated (Agleton & Chalmers, 2000, p. 10). Nursing models overview Nursing models serve as the foundation of nursing activities since they outline the professional interaction that takes place between a nurse and the patient. Prior to the use of nursing models, nursing was anchored on the medical model. According to this model, the patient gets ill as a result of pathology, once the pathology is detected; treatment modalities are channeled towards eliminating the pathology. It was a mechanized form of managing the patient since it did not take into consideration the other aspects of a patient that may be causing the illness; it did not provide holistic care to the patient. Nursing models are not delicate opinions of nurses, but they are the values, knowledge and ideas that nurses inculcate while taking care of the patients. They are developed following years of practice hence enhancing the validity and reliability of nursing models. They act as a guide in the management of patient, and above all, nursing models are patient centered. This is since they inculcate the nature of the individual, the causes of his problems; the diagnosis arrived at as a result of assessment, the interventions, and assessment of interve ntions. It is important to determine the nursing model that will be used in the management of a patient so as to have a guideline that aids in optimal care of the patient (Aggleton & Chalmers, 2000, p. 10). The Roper-Logan-Tierney (RLT) model The nursing model chosen to manage Mr. Jones is the Roper- Logan- Tierney model. This is a nursing model that has also been described as the human needs model or the activities of daily living model. This model was chosen in the management of Mr. Jones since it is a holistic model. This is since it focuses on the 12 activities of living and assessment how the illness has affected these activities hence identifying the cause. Priorities are then arrived out aimed at eliminating the cause and hence restoring the health of the patient. The activities are outlined as maintaining a safe environment, communication, eating/drinking, elimination, controlling temperature of the body, play and work, mobilization, personal hygiene, sexuality, sleeping, an d death and dying of the patient (Roper, Logan, & Tierney, 2000, p. 20). The model is effective in the management of Mr. Jones since it stipulates the factors that may alter the activities of daily living. It inculcates the environmental, psychological, biological, politico economical, sociological, and educational influences on health of an individual. This cuts across Mr. Jones and how various aspect of his life influences his wellness and illness continuum. Consequently, the Roper- Logan-

AC PROJECT Essay Example | Topics and Well Written Essays - 500 words

AC PROJECT - Essay Example We have set a budget of $ 132000 for software expenses. The cost includes an allowance that will cater for unexpected costs during writing of different software. Travel expenses will amount to $ 71500. This amount will meet the travel demands of our team as we seek to participate actively in the growth of this company. To cover all the depreciation costs, we will require $255,000. Due to the complexity of the tasks being performed by this department, various unplanned costs are bound to be incurred. To cater for such miscellaneous costs, the department will require $ 110000. We hope that our budget demands will be looked into so that we can have a successful business year this year. The figure below shows an outline of the proposed budget. Our company has been very successful in the recent years. The massive financial support to the sales department has been of great importance. This year, our budgetary expenses are bound to reduce by a small percentage. This is because most companies have already invested in communication software and hence there are few numbers of potential customers. We expect to maintain our past growth rate despite this challenge. To achieve this, we will lower our sales revenue expenses to $4, 500, 000. This amount will be sufficient to help us reach the available customers in the market. The salaries for our staff will amount to a total of 360000. This amount will help us maintain our competent employees and hire more qualified employees if need arises. The nature of our duties demands a lot of travelling. The travel expenses are estimated to amount to $210,500. Compared to the previous years, this amount has been lowered since the numbers of available customers has decreased. The total amount for the proposed budget is $507000. With this budget, we will be able to maintain our growth level and hence move the company to another level of success. The budget outline is presented below. Our division has enjoyed the continued

Ebonics dialect Research Paper Example | Topics and Well Written Essays - 1250 words

Ebonics dialect - Research Paper Example The better understanding of a language does not come through following the strict rules that prescribes how the grammar and structure of the language should be applied. The understanding of language clearly sets in, when the learners â€Å"choose not to follow the prescriptive usage† (Curzan, 870). There is dispute on the fact that learning to apply the rules of Standard English language is essential, most especially considering that it is the formal and official language that is applied in business meetings, news reading and in different other global social and political platforms. In addition, the education, general publications and any other formal documents also apply Standard English (Curzan, 873). Thus, there is no doubt that there is a need for learners to understand the application of the Standard English, if they are to become effective communicators beyond their current classroom contexts. However, while teaching the Standard English language, it is only essential th at it is not applied as the standard of measure against which other non-standard or derivative English languages should compare their grammar and sentence structure. This position has been advanced by Anne Curzan, who argues that it would certainly be wrong pretending that â€Å"written Standard English is above question† (Curzan, 871). This essay, then, aims to emphasize that it is the social perception, as opposed to the inherent superiority of a language, that gives language its meaning. According to David Wallace, the essence of a language rests in its prevalence over everything and its applicability everywhere, such that the grammar purists, whom he also refers to as snoots, have a more glorious moment than the computer nerds (Wallace, 48). This argument serves to drive to the point that language derives its meaning from its applicability, more than from the actual fact that it is a superior or inferior language. Therefore, Wallace then holds that the application of

Organisational Change Of The American International Group Commerce Essay

Organisational Change Of The American International Group Commerce Essay The American international group has a history that dates back to 1919. The company was started when Cornelius Vander Starr established an insurance agency in shanghai the capital city of china. Starr was the first person from the western to sell insurance policies to the Chinese. Starr sold policies until the company which is the current AIG left china in 1949. In the same year the companys headquarter was moved to New York in United States from where it expanded through venturing into other markets in the parts of Latin America, Asia, Europe and Middle East. In 1962 the management of the company moved from Starr to Maurice Greenberg who diverted its concentration from personal insurance sales to high margin corporate coverage where he eliminated agents by bringing in independent brokers whom he used in selling insurance polices. This strategy helped the company to price insurance depending on its probable return even at times when there were reduced sales of certain products and for a long period and still incur very little extra expenses. After Greenberg took over the management of the company it sooner went public in 1969. Starting from 2005 the company was caught up in a series of frauds that were investigated by the justice department of U.S., the office of attorney general in new state and the securities exchange commission. The then CEO Greenberg was suspended and replaced by Martin Sullivan in Feb. 2005. In June 2008 some financial losses were disclosed which led to the fall of AIG share price in the stock market. This resulted to resignation of Sullivan who was then replaced by another CEO Edward Liddy in sep. same year. American international group is the biggest underwriter of industrial and commercial insurance. The financial scandals of 2008 led to great losses to the company which made it suffer a liquidity crisis as its credit rating was downgraded. AIG it a globally recognized insurance company with branches in different parts of the world. Its vision is to be the leader in innovative mortgage solutions while its mission is to be the mortgage insurer of choice through: professional and dedicated staff, entrepreneurial leadership, disciplined risk taking, customer satisfaction, and through solutions to facilitate Canadian homeownership. The companys global benefits network has lately introduced the AIG atlas as one of its strategies. This atlas is a basically a range of products meant to assist in meeting the unique benefit needs of the employees. This will then enhance the utility of the capability of the companys employees in over 100 countries hence be able to provide the best services as well as cost effective solutions to its customers all over the world (AIG Group Management Division 2009). The unique benefits to the employees will include medical insurance, life insurance and long term disability insurance. The company al so intends to provide full time services through charge-free phone number as well as management and monitoring of emergency medical cases. Strategies of AIG The company is one of the leading international insurance and financial organizations. It has partnered with several business groups including CRM, which is the number one credit management solutions provider in Europe. This partnership has enabled the company to provide better customer satisfaction and hence improving its sales of insurance policies while accomplishing efficiency gains. Currently, American international group operates in more than 130 countries while its member companies serve institutional, commercial, as well as individual customers through the widest property, life, and casualty of any insurer in the world (AIG Group Management Division 2009). The company is thus going through a period of drastic reviews of its of the processes and structure in all its centres so as to maximize and establish its B2C customer management. By making use of its resources more effectively the company aims to improve the efficiency of CRM and provide the best responsive customer care. Having partnered with other outsourcers, AIG realized the importance of outsourcing partners with whom they can combine the breadth of experience by providing well managed and high quality services. In 2002 AIG and finalized a business strategy with Transom with outlined a number of challenges such as developing organizational skills to secure maximum profitability and customer satisfaction. The company also had to act according to the desired outcomes for improved organization, quality and management as well as provide cost effective high quality and fulfilment solutions (AIG Group Management Division 2009). Following the deal between the two companies Transcom began to handle the inbound customer care service on behalf of AIG. Transcom then enhanced the quality of services by dealing with the mistakes in the existing program of AIG. Leveraging its long experience and first class technology, Transcom has been able to strengthen and expand the CRM activities of AIG through addition of telemarketing campaigns. Transcom has also succeeded in bolstering AIGs customer revenue and base through contacting its potential customers and presenting them with persuasive offers to coverage commerce. The general improvement in the quality of service of AIG has come from the enormous improvement in customer relations which has in turn strengthened AIGs image as a professional organization. All this was possible since Transcom kept within the service level boundaries as well as constant customer contact (AIG Group Management Division 2009) Organizational Behavior Analysis Organizational behavior analysis is an evaluation of the way individual work in an organization. The organization does not need to be a business institution like the American international group but can also be a religious institution. The ultimate goal of organizational behaviour analysis is to understand in a better way the relationships between individuals in an organization, the relationship of the employees and the organization and the organizations relationship with the rest of the society (Harigopal 2006). This information is then used by the management of organizations to increase the efficiency and productivity of and achieve the goals and objectives of the institution as a whole. According to Harigopal (2006), by gaining and understanding this knowledge the employee are able to realize the contributions of their individual efforts to the bigger image of the organization. The progress and success of every organization rests on the philosophy of management as well as on its vision, goals and values. These factors then drive the organizational culture that is made up of the social environment, formal and informal organization. The culture then influences the type of communication, leadership and group dynamics within the institution. The employees or workers in the institution then take these aspects as the quality of their work life and therefore they determine their rate or degree of motivation. The ultimate results of these will be individual satisfaction, performance, personal growth and the general development of the organization. Organizations are undergoing exceptional radical change in all systems of operation ranging from decision making to global competitive pressures and technology to acquisitions and mergers(Harigopal 2006). Organizations have therefore to respond quickly and effectively while remaining flexible and transforming themselves for the new world of work. Organizational behavior is therefore written with these changes and it explains through what leaders and managers need to know about organizations as they struggle to bring productivity and success in them. Organizational behavior and leadership development is institution wide responsibility that stretches across all functions and departments. Culture is described as the conventional behavior in a given society that includes beliefs, knowledge, customs and practices. Although it rarely finds its way into the conscious mind, it often affects the behavior of human beings within a given society or organization. Employees in an organization like the AIG usually depend on its culture since its culture gives them stability, understanding, security and the ability to react to a given situation. Organizational culture creates a number of concepts, situations and strategies that affect every level of planning in any institution. Understanding the operation of culture and organizational structure and the machinery that it runs behind the scenes helps the employees to organize and strengthen the effective cultures and remove the bad ones thus establishing and environment that promotes success within the institution. According to leadership theorists, diminishing and weakening of an organization together with the employees resistance to change is usually caused by ineffective leadership (Harigopal 2006). For instance the American international group underwent financial crisis in 2008 as a result of poor leadership. The bad culture of impunity that had been developed in the company led to corruption and mismanagement of funds as well and some other unscrupulous deals. Strong leadership and organizational culture are necessary for long term success in every corporation. However some institutions may show signs of success for a long time even without a strong organizational culture but when the culture starts to erode, the big organizations take only a short period of time to collapse. Strong leadership is necessary for a strong organizational culture although the reverse is also true. Without strong leadership to maintain everything running, a strong organizational culture will only dull and eventually erode. Practising business people and theorists have found out that organizational culture and leadership are tightly intertwined. Leaders require having a clear understanding of the impact and identity of the organization culture so as to determine the kind of adjustments and management systems needed within the organization as well as have the right styles of effectively communicating their visions to rest of the institution. The study of the operation of organizational culture and organizational structure makes the practical study of organizational culture and structure implications important. In all organizations from government groups to sport teams, the study of the impact of culture and structure on the general picture of an organization shows a better way of making an entity work. Good organizational structure ensures balanced distribution of responsibilities among the top management of groups as well as among the workers (Harigopal 2006 p.102). This has shown that good organizational structure with excellent personnel that ensure all are focused at the same goal, works well than excellent but conflicted personnel. Organization structure generally deals with the culture set up. It deals with the working of the management, the specific responsibilities of the supervisors, and the manner in which a complaint is passed through the ranks. Organizational structure ensures that. Managing change in organizations A significant change in an organization occurs when the overall strategy of an organization are changed for success, or when an organization adds or removes a major section or practice or when there is a change in the operation nature. Organizations develop by undergoing through significant changes at different points in their progress. Successful organizational change is usually very difficult to achieve thus it usually calls for skilful leadership in change management. In work organizations there are different approaches in guiding change whereby some are structured, planned and explicit while others are more unfolding, organic and implicit. These approaches work in different styles. Some work from the future to the present for instance when an organization develops a vision to be achieved in the future and then lays down strategies on how to acquire that vision. Some other approaches will work from the present to the future. In this approach the organization will identify its current problems issues and goals and then lay down strategies on how to deal with those priorities and how to achieve them (Harigopal 2006 p.97). The variation in the type of strategies used depends on the culture of an organization or on the leadership style of the managers. When starting from the present to the future the organization looks at its past in relation to the present and then looks at the present in relation to the future and then evaluate whether it can still go on with its activities just like it has been doing. For an organization doing business in this fast changing and advancing environment, doing thins like has been doing before may not help it compete fairly with others in the industry (Harigopal 2006 p.98). Even doing the same thing harder or even fine tuning it may sometimes make no difference. What organizations need to do keep doing things different as the changing business environment demands. In the daily operation of organizations the structures, methods, processes and technologies that were appropriate in the earlier market conditions may not be applicable in the current or future conditions. This implies that organizations may be forced to reset themselves on different assumptions and business prospects that are in accordance to customer focus, innovativeness, competitive intelligence, and competency base. For the best results in a change effort, the change agents should first of all have a comprehensive understanding of the context of the change effort such as the right strategies needed and the kind of results expected. This means that the change managers should have a clear understanding of the basic structures and systems in an organization as well as their typical terms and roles (Harigopal 2006 p.98). The leadership style and management systems of an organization in relation to its culture are also necessary. Change management encompasses thoughtful planning and sensitive implementation of necessary strategies. Before a change is initiated and during the change process the change leaders should conduct extensive consultations with the people affected by the change and also involve them in the change process. The managers should also find ways of aligning the aims of the business with the needs of their people. The managers should check if the people affected agree with or at least understand the need for change and that they have a chance to decide or give views on how the change should be managed. The sensitive aspects of the change management should be handled through face to face communication so as to convey meaning and understanding. According to Harigopal (2006), managing change therefore demand establishing different management structures, like the interim structure to deal with the business of the business, the transition management structure to smoothen the change process and a structure to stream line the new state of the organization (p.95). Before starting the change process, an organization should be clear on its purpose, direction and vision as well as have a clear analysis of its prevailing strengths and weaknesses in relation to opportunities and threats. The dynaminism of business environment will then determine what should be changed and the required pace of change. Impact of technology on business According to (HÃ ¥kansson, Waluszewski Prenkert 2009), business today is inextricably entangled with technology starting from the smallest business to International Corporation with a number of monolithic applications of legacy. In todays world one cannot be in successful business activities and fail to come across the issues of technology. This is because the way business processes are carried out today is very different from the way they were being carried out 30 years ago. Technological advancements have occurred in several areas from communication, stock market, travel i.e. by air, land and water and technology has also evolved around our lives. Information technology has revolutionised the systems of business operation around the world. Local business have now gone international as a consequence of simple website information technology that than enabled them to advertise internationally (HÃ ¥kansson, Waluszewski Prenkert 2009). Information technology (IT) has helped in customer service where big organizations like Microsoft and American international group attend to needs of their customers through online services like email and chart. Internal and external networking in organizations has improved business operations around the world. Through networking staffs and clients in organizations can effectively get in touch with their leaders for feedback and updates on progress and extensions. Communication within firms as well as between firms has really bloomed with the current developments in technology. Business between organizations has even become easier and more effective. For instance the American international group has been able to work with other organizations and improve its services due to improved IT and communication. However due to high technology computer systems in organisations todays business calls for extensive and careful planning. This planning can be done on organised pattern, with formats schedules and Gantt charts. Due to improved computer systems huge data bases can now be managed and stored on network and back up drives for future records. Accessibility of stored data and files has also become easy with the discovery of a series of shared folders and password keys. According to HÃ ¥kansson, Waluszewski Prenkert (2009) Cash transactions are easily made hence reducing delay which then gives liquidity to business and makes the overall processes i n business faster. Information technology has enabled the businesses to put up an easier and effective coordination with their suppliers. This then has enabled them to benefit from production economics when they operate with the large specialized suppliers. Furthermore the drastic reduction of in the IT cost as well as the reduced risk of transaction in explicit coordination has been it possible for extensive application of explicit coordination with the suppliers. The resulting economized transactions and other factors thus enable a long term business partnership with a smaller set of suppliers According to Johnson Redmon Mawhinney (2001), communication is an essential part of any organization regardless of its operation size. It helps in building public relations via effective interpersonal relations and enhancing teamwork for high performance. Effective communication basically entails relaying messages in a clear and precise manner making it easy to be understood without altering the message being conveyed. Communication is composed of a couple of stages: sender as the source of communication, encoding involves the sender internalizing the message, channel of communication, decoding is relaying the message to the receiver. Receiver in this case is the intended recipient of the message and the reaction/feedback of the receiver completes the cycle. The effectiveness of the communication depends on both the degree of attention from both the listener and the recipient of the message. For effective communication one strives to reduce the mistakes likely to occur at every stage of communication discussed above. Encoding involves synthesizing the information to be communicated. The precision and ease with which you communicate will depend on the level at which you internalize the message (Johnson Redmon Mawhinney 2001). Special attention should be placed on the critical issues, the likely mistaken assumption the communication might generate and the missing information. One should understand well the message he wants to convey, project the likely impact and reaction it will be getting then relay it at the best time possible Wrong interpretations or assumptions may result to communication breakdown. Communication breakdown slows the implementation of ideas and creates stumbling blocks for the path towards the success of an institution. Both the sender and conveyer of the information should have the same understanding of the information. Well conveyed message helps th e listeners understand your thoughts, your perspective on a certain idea. Channels of communication vary from electronic communication electronic communication (fax, internet, video conferencing) face to face, telephone, mails, reports, memo and notices. Choosing an appropriate channel adds value to the information being relayed since each channel has its advantages and weaknesses. Decoding of the message by the listener also requires skill. One should be keen in order to note things like the mood of the sender the feelings in the message and its relevance. Poor decoding which mostly arises from lack of deep understanding of the issue at hand limits the importance of the message. Feedback by the receivers both verbal and non verbal helps in assessing how effective the communication was received. Upon failures it might be important to repeat the message. Circumstances at which you relay your information has impact on the communication. Many organizations like AIG have maintained success and goals achievement due to use of effective communication methods which have enabled participation of all employees towards accomplishing common goals. Removing mistakes from all the stages of communication is very important. The message should be organized, summarized and with minimum or no errors at all. Recent studies point out that communication skill both written and spoken is the biggest factor in isolation that is used in determining managers of cooperation. This is a major boost on the ability to relate well with your subjects and respect you. Poor communication skills will lead stand in the way of career progression as it leads to poor coordination of ideas. Conclusion In todays world, whether an organization is a profiting or non-profit making, it very important that the organization motivates and utilizes its talent. Understanding the organizational behaviour is a major factor for increased opportunity and chances of success in the business world (Johnson Redmon Mawhinney 2001). On the other comprehensively understanding the organizations culture ensures continued growth in a diverse manner. In order to attract talents and high quality skills into an organization there is need for a culture of open communication and diversity. Once the institution has the best culture it needs in its activities then it can improve its efficiency and have more widespread viewpoints from which it can learn from hence expanding its systems and operations. However there should be good care to ensure that the organizational culture and structure are in accordance or compatible with the strategic goals of the organization. In todays fast moving global world fro business, organizations need to quickly learn their threats and opportunities and adapt to them. The rate at which an organization learns these factors, affects the speed and efficiency at which the organization handles these opportunities and threats. Effective communication is also a very important factor in the productivity and success of every organization (Johnson Redmon Mawhinney 2001). Communication can either be formal or informal which are both used in all institutions whether directly or indirectly. Formal channels of communication in organizations usually follow the chain of command which is usually from top to bottom. On the other hand the informal channel tends to be more open and spontaneous. Gossip is some form of informal communication. The informal communication is a very effective method of communication and its mostly used by small companies. Investments aimed at increasing the level of explicit harmonization with the outside agents has resulted in enhanced risk to organizations. This has traditionally made organizations to avoid this increased risk by under investing in coordination. However information technology has been found to have the ability of reducing coordination cost without increasing the associated risk of transactions resulting in more outsourcing and less vertically integrated firms. Lower relationship specificity of IT investments and better capability of monitoring, means that organizations can safely invest in information technology. This will then enhance coordination between firms than in traditional investments. The rate and importance of organizational change has not slowed in the past years but it has actually been improving. The continued rapid technological innovations are bringing in changes in organizational processes and systems. The faster growth in internet has enabled much easier and faster access to information and knowledge which has then changed the way people operate businesses. The expectations of employees in their movement from one organization to another have also increased hence necessitating more and more organizational changes so as to meet the current market demand. American international group is a constantly changing organization due to the changing customer demands among other factors. According to AIG Group Management Division (2009), the rate of change portrayed a good culture of AIG that does not show resistance to change in the organization. Although the company experienced some hard times in 2005, its culture of good change enabled it to come out of the crisis. Organizational change has seen the abolition of some of the international market barriers which has then helped many organizations like AIG to venture into partnership with foreign institutions thus improving its market and services. This therefore illustrates the importance of constant organizational change. In spite the importance or organizational change not all the undertaken changes that deliver the expected benefits to the organization. This is the reason why any change in an organization should be carried out through the right procedures. Strong leadership qualities for the managers are also necessary for successful organizational change (Harigopal 2006). Failure for organizational change to deliver is usually brought by reasons such as absence of a change agent with qualifications or the change agent being too junior in an institution. Lack of support by the senior management and their committed executive should be available in any organization. Poor definition of organization objectives and diverse dimensional solutions helps in building confidence in the involved participants hence enabling them to take part in every process of the change. Failed organizational change initiatives do a lot of harm to the employees both in their spirit and strength which creates more difficulty in the accomplishment of the consecutive change initiatives. Actually todays managers face a great challenge in managing change. In order to ensure success therefore all managers are required to understand their organization together with their real needs. According to Harigopal (2006), the change leaders should also understand that bringing positive change in any organization is primarily about changing the employees behaviour in certain ways. Leadership, and powerful management skills like visioning, planning, prioritizing, giving feedback and rewarding are key issues in the success of any organization.

A Review Paper of Internet Banking Services -- internet banking, bankin

Today, Information Technology revolutionized our life almost in every filed. One of among several blessing of information technology is Internet Banking services that brings ease and comfort for our banking activities. Over few years Internet Banking has evolved as convenient, self-serviced technology, cost-reducing and time saving channel. Internet banking is available 24x7 across geographies. In last few years, the number of internet banking users has been increasing rapidly. In present hyper competitive environment internet banking works as a competitive differentiator among banks. Internet banking has become an important revenue builder for banks. Increased competition in the banking sector and customer demand is forcing banks to provide their services online (Southard, P. & Siau, K, 2004). Banks try to gain competitive advantages in technological atmosphere by adopting new technological developments in their area as soon as possible (Ozcan, 2007; Chang 2002). Information technology developments in the banking sector have speed up communication and transactions for clients. It is vital to extend this banking feature to clients for maximizing the advantages for both clients and service providers (Safeena, Abdullah and Hema, 2010, 2011; Qureshi et al, 2008). In the past, internet banking has been adopted by banks mainly to decrease costs and increases revenue by reducing staff and branch networks. Today, banks are visualizing the internet banking as a strategic enabler of customer services and others view internet banking as the key to expansion. Internet banking has gained acceptance throughout the world as a new delivery channel for performing various banking and financial activities. Internet Banking is an internet portal,... ...ility of technology and infrastructure to support the new model of banking. Second, the need for Internet banking itself – Internet Banking or an efficient system of instantaneous banking or convenient banking. Third, an adequate mechanism to tackle the security risk and operational risk aspects (Sharma, 2001). Fourth, a proper legal framework to take care of the rights and obligation of the consumers. While most of these issues have been somewhat addressed, an important issue still remains - what existing and potential consumers feel about Internet banking and on the basis of this how an appropriate banking model can be developed in Indian context. (Sharma B.R., 2001; Gupta P.K., 2008). Perceived Factors behind the Growth in Internet Banking: †¢ Competition †¢ Cost Efficiencies †¢ Geographical Reach †¢ Branding †¢ Relationship building †¢ Customers Demographics

Okonkw’s Insecurity

There are a lot of factors in a person’s life that contribute to their feeling of insecurity. Certain events might cause that, mostly it tends to be childhood events. Men usually try to hide their insecure feelings by making sure they appear strong and masculine while deep down they could be very weak. A person feeling insecure is normal but insecurity taking over a person might result in his downfall. That’s what happened to Okonkwo in Things Fall Apart.Okonkwo’s obsession with what others think of him started from an early age, which would drive him to be insecure. Okonkwo’s father is the reason for Okonkwo’s insecurity. His dad being viewed as a nothing would make Okonkwo wants to be viewed as everything his father wasn’t. Okonkwo’s first priority is to maintain his masculinity in front of people, which would lead him to success at first. But, later on he would be so afraid to look weak, that he breaks a lot of tribal rules just to keep his image intact.Okonkwo starts breaking the rules by beating his youngest wife Ojiugo during the week of peace because she left the hut without cooking dinner. He later one does another fatal error that would start leading to his fall down, he kills the boy which called him father although the clan’s leader and the authorities told him not to. Okonkwo loved Ikemfuna but he still killed him because he resembles any feelings with femininity and for him any sign of femininity is being weak. Feeling weak inside, Okonkwo would do actions to make people feel down.Insecure people insult others because they think that, by making someone else down; it will make them feel better about themselves. That's exactly what Okonkwo does when he tells Sugo – a man without titles- â€Å"This meeting is for men,† who implies that he is not a man, but actually a woman, who is a weak creature in Okonkwo's view. The reason why Okonkwo specifically attacked Sugo by implying that h e is a woman is because insecure people attack the things they are most afraid of.Another reason why he constantly criticizes people is because, deep down, he feels inferior. This particularly shows when his wife, Ekwefi, says â€Å"guns that never shot†. He immediately translates that as a critique of his masculinity. As a result, he starts beating her, thinking that this will prove his masculinity, while it totally shows the opposite. It actually makes him seem weaker. Okonkwo hides all his emotions under a mask because he associates any form of emotion, such as compassion and love, to being feminine.Okonkwo tries to hide his emotions from his daughter Ezinma. Although she is his favorite child, he refuses to show her any kind of emotion, supposedly, to maintain his masculinity. Another example of how Okonkwo tries to hide how he feels is when he kills his â€Å"son† Ikemefuna. Upon killing him, Okonkwo feels too much pain inside of him that he thinks of himself as a â€Å"woman†. However, afraid of being viewed as weak, he keeps trying to hide his feelings. Instead, his body responds and starts to weaken without him noticing it.

digital signal processing essays

digital signal processing essays Philosophy of Time in Relativity: Time in relativity theory modified mathematically and used in combination with the usual three spatial dimensions to specify the location in space and time of events. Dimension, in geometry, a property of space. In common, experience the world is three-dimensional. Three measures-breadth, width, and depth-are needed to define a volume. In mathematics and physics the concept of dimension is used more abstractly; spaces of four or even an infinite number of dimensions are commonly used. The spaces with many dimensions that are used in mathematics and physics have no commonsense meaning, but are very powerful tools that are crucial to subjects like quantum physics. In addition, dimension need not always be a whole number. For example, fractals are mathematical objects that have fractional dimension. Time, conscious experience of duration, the period during which an action or event occurs. Time is also a dimension representing a succession of such actions or events. Time is one of the fundamental quantities of the physical world, similar to length and mass in this respect. The concept that time is a fourth dimension-on a par with the three dimensions of space: length, width, and depth-is one of the foundations of modern physics. Time measurement involves the establishment of a time scale in order to refer to the occurrence of events. The precise determination of time rests on astronomical and atomic definitions that scientists have established with the utmost mathematical exactness. Time, conscious experience of duration, the period during which an action or event occurs. Time is also a dimension representing a succession of such actions or events. Time is one of the fundamental quantities of the physical world, similar to length and mass in this respect. The concept that time is a fourth dimension-on a par with the three dimen ...

Government Steps in When Tobacco Industry Steps Out essays

Government Steps in When Tobacco Industry Steps Out essays Government steps in when Tobacco Industry steps out Back a few years ago, all we heard on the news was John Doe vs. Big tobacco industries. Every day, people who had been harmed by smoke-related illnesses sued tobacco companies for liability in respect that they would compensate the medical bills. Though some believed these individuals were only interested in the money, others think they had good reason for their claims. Well, some ground-breaking research explained that smoking was infact dangerous and that tobacco companies were trying to hide the evidence. The individuals who filed these claims were far from crazy, but were actually doing to right thing: to make the industry take responsibility for the effects of their products. Half a million people die each year due to smoke-related illnesses such as heart disease and lung cancer. These illnesses exceed $20 billion annually in associated health-care cost. The harsh fact is these illnesses are caused by some of the harmful ingredients in cigarettes. Knowing that tobacco smoke contains over 4,700 chemicals and 50 human carcinogens, it is understandable that smoking is the leading cause of preventable disease, disability, and death in the U.S. In an issue of Current Health 2, the National Academy of Sciences reports ... that smoking is responsible for 3,000 deaths from lung cancer each year in the United States. In the same article, a study found that passive smoking raised a nonsmokers chance of getting lung cancer by 26 percent. The American Heart Association estimates 40,000 die each year from heart and blood-vessel disease and the risk of heart disease is increased by 30 percent. This research proved that tobacco industries were responsible and s hould be held responsible for the harmful products they manufactured. When faced with this research, the tobacco industries just turn their heads and deny it. In July of 1999, tobacco industri...

Nature and landscapes are nothing more than sedimented history Essay

Nature and landscapes are nothing more than sedimented history - Essay Example Once it regains, its original shape one may not be able to tell the difference between the original and the restored form (McKibben, 2009). Thus, is easier to say the landscapes and nature are just but a sentiment of history. The views can change but with time, they can regain their original shape and appearance. This fact makes the idea that the landscape and nature to be termed to just but a history. Since history repeats itself the same, the nature can repeat itself once it has been altered. When people settle in a place, they change position in a manner that the area can be habitable. If the same place can be abandoned for a while, it regains its original shape, and the earlier vegetation can cover the ground. Thus, the landscape and nature is just a repetitive occurrence that can repeat itself like the way history does. Taking a case of the white settlers who invaded the Zimbabwean country and settled there. This aspect can be treated as a case of the British where they found the nation being scorched and had no enough water to allow them to practice farming. The British had to change the landscape, and the landscape was changed they brought a new one. The new landscape was full of water from the dams, and they had conserved the soil well and the land was good for arable purposes. Thus, the new appearance of the area was good enough to allow many farming activities. Wildlife could at that time be well supported by the new look of the environment. The British changed the landscape to own it and performed their activities (Hughes, 2010). They used the water that was in the dams that they constructed to irrigate and support the wildlife. Maybe long ago the same place had a lot waters and was supporting wildlife, and it reached a point that the climate changed. It to be so dry that the animal was no mo re supported by the prevailing conditions. When the British came to the place, they changed the nature may be top the look of

Is President Barack Obama a Good President Essay

Is President Barack Obama a Good President - Essay Example In a reflective analysis of the various aspects of the President-ship of the current president of the US, one may undoubtedly argue that Barack Obama is one of the most prominent and effective leaders and presidents in the history of this great nation. First of all, his life story very well reflects the true American story – incorporating the â€Å"values from the heartland, a middle-class upbringing in a strong family, hard work and education as the means of getting ahead, and the conviction that a life so blessed should be lived in service to others.† (President Barack Obama). Therefore, the President has been aware of the American story very well which has helped him tremendously to shape his opinions and policies as a president of the people. The vast amount of experience in the public service arena has contributed to the success of Obama as a great leader and president of the nation which is also reflected in the nation’s unwavering belief in his ability to unite people around a politics of purpose. Some of the fundamental points to argue why Barack Obama is good president and effective leader of the nation include his intelligent leadership; he is not war-hungry or money-hungry; the effect of his genial and luminous personality on diplomacy; his civil rights struggles; his awareness of an overall reform of the various political policies of the nation, etc. In consideration of these features of his leadership and many others, one must argue that President Obama is one of the most effective and successful presidents that the people of the United States have ever seen. It is important to remember that, when President Obama was elected as the 44th President of the United States, there was a great expectation about his ability to lead the nation from the front to a great period in the history of the nation and he seemed like a different kind of leader in comparison with many of his predecessors. Definitely, he has lived up to those expecta tions which earned him high reputation even in the international scenario. As the BBC Radio 4’s Today program evaluates, President Obama has not just been the first black man in the White House but also ‘a new sort of American president’: thoughtful, reflective and determined to represent all of his country. (Mardell). This remark about the leadership of the president very well reflects the various aspects of the policies of his government. All through his tenure, the President has given great thought and reflective attitude towards the various issues facing the nation, be it economic crisis, employment issues, or matters of international affairs. Most of the Americans considered, and still consider, President Obama as the most important transformational figure of the nation who can lead this great nation to meet the demands of the contemporary world. The former state secretary Colin Powell was right when he endorsed Barack Obama describing him as a ‘transf ormational figure’ who was the right president for this moment in time. In his words, President Obama is the right choice for leading this great nation as he has both style and substance. (Bennis, 2009, p. 223). One of the major factors that contribute to the success of Barack Obama as the transformational president of the nation is his leadership qualities. It is important to recognize that the world’s hunger for effective leadership at the international scenario has been satisfied by the election of this charismatic new leader as the president of the United States on November 4, 2008. Millions of Americans wept with pride in their country and relief on the night of his victory as he had triumphed over old prejudices. â€Å"One result of Barak Obama’s extraordinary election is to remind us of just how thin our leadership bench is.†

Marketing Communications Models and Their Application to Adidas Research Paper

Marketing Communications Models and Their Application to Adidas - Research Paper Example This research will begin with the statement that Adidas Company deals with sports shoes and clothing. It is a maker and a designer of sports ware. The company has its headquarters in Germany.   The company’s acquisition of Reebok was fundamental for its operations. This is because the acquisition gave the company a competitive advantage. The company managed to acquire a considerable market share. The company is responsible for the sale of products used in a variety of sporting activities including cricket, basketball, football and other activities. The products offered by the corporation are availed in all countries of the globe. The company employs strategic marketing, with an objective of improving the brand strength, acquiring a competitive advantage and raising its performance in terms of finances. The subsidiaries in other countries receive management information from the headquarters in Germany. Statistics on sports apparel usage indicate a possibility of an increase i n sports equipment market value. From 2008 to present, the market value has been rising, an implication that Adidas can benefit from the market growth by attracting customers through appropriate marketing plans. Situation analysis involves the analysis of the company by considering political, economic, social and technological factors. The analysis takes into account both the strengths plus weaknesses of Adidas. One of the current strengths of the company is the political stability that exists in the United Kingdom. This enables the company to performs well as the political environment plays a significant role in business operations. Political challenges that Adidas might face is the influence of regime policies on the purchase of goods. The company is subject to both the challenges and strengths that relate its economic environment. The company has already established a strong economic base thus; it is possible to maintain its status through adequate strategic management. Adidas en counters challenges in cases of unstable interest rates likely to result in inflation. The company benefits from the high population that exists in towns.

Different Alcohols Essay Example for Free

Different Alcohols Essay The length of time the water is heated for is important as a short period of time will not heat the water sufficiently enough to take accurate results. However, heating the water for too long will boil the water to 100i C and therefore the results will not show any trend, as this is the maximum temperature for water. I chose to heat the water for 150 seconds (2. 5min) as this was a suitable time. METHOD * Set-up apparatus as shown in diagram. Fill calorimeter with 100cmi of distilled water and record temperature in i C with thermometer for 30 seconds to allow an accurate reading. Read thermometer at eye level in order to reduce parallax error due the reflection of light through the glass.   Select burner and check the height of the flame is 4cm using a ruler. Change length of wick using tweezers to change the height of the flame.   Weigh the burner filled with the desired alcohol with the lid on it using a top pan balance. Ensure the balance is on a flat stable surface and place burner on pan gently in order to keep reading accurate. I shall use the first four alcohols in the series: methanol, ethanol, propan-1-ol and butan-1-ol. Record mass in grams to the nearest hundredth.   Clamp the calorimeter 7cm above the top of the burner and place lid on calorimeter properly. Measure the height of calorimeter above burner using a ruler. Place burner on a heat-proof mat, under calorimeter; remove burner lid and light immediately with a match. Withdraw match immediately as the heat of the wood combusting could effect the temperature of the water in the calorimeter. Begin timer immediately when wick is lit. Do not remove lid before match is lit as some alcohol may evaporate and alter the burners weight before it is lit. Plunge stirrer up and down once every 5 seconds to ensure uniform heating. During heating keep lid on calorimeter to prevent the water evaporating and heat loss.   Record waters temperature every 30 seconds by using thermometer at eye-level. Do not remove thermometer from water to take reading, as this will change its temperature.   After 150 seconds of heating extinguish flame by replacing burners lid. Record the waters final temperature in i C.   Re-weigh burner and record mass in grams to the nearest hundredth.   Repeat 3 times and take an average of results. Repeat for all four alcohols. Calculate energy released by each alcohol per gram using the formula below: Energy Released per gram= C x Mw x /\T (J/g) Mf Where, C= specific heat capacity of water (4. 17 J/gi C) Mw=mass of water (g) /\T=change in temperature (i C) Mf=Mass of fuel used (g) Calculate energy released per mol using average J/g and the following formula: Energy released per mol= Mr x J/g (J/mol) Where, Mr=molecular mass J/g=Energy released per gram (average) Safety Precautions Because this investigation involves the use of open flamed burners, I will need to be very careful in the laboratory. I will remove all loose pieces of clothing that may fall into flame and set light. I will wear safety goggles to protect my eyes as I am heating a liquid, which could spit, into my eyes when hot.   I will use a heat-proof mat to protect the workbench from the heat of the burner.   I will abide by all standard laboratory rules such as: Do not run. Results PTO CONCLUSION The graph shows that as the length of the molecule chain in an alcohol increases so to does the amount of energy it gives of when completely combusted. The curved line of best fit shows that the relationship is not proportional. The energy released increases because as the length of molecule chain increases because the larger chains only need a small input of energy to break the original bonds yet gives out a larger amount of energy when the new bonds are formed. The energy of the products is lower compared to that of the reactants in longer chain molecules than smaller ones. The results support my prediction in the way that I predicted that as the length of the chain increased so to would the energy released. However, I also predicted that the graph would show directly proportional results, which it does not. My prediction also stated that the results would be lower than the theoretical values due to heat loss which proved to be correct. EVALUATION I believe the method I used was as accurate as possible with the equipment provided, although the results do not show this. The energy released per mol values are a lot lower than the theoretical values due to heat loss. Because of the large amount of heat loss the results are quite varied and unreliable. I only encountered one anomalous result, which is highlighted in red on the results table. I believe this is because of less heat being lost during this test than the was lost during the other tests for propan-1-ol. To overcome this problem barrier could be placed around the burner to shield it from drafts and guide the heat towards the calorimeter. I believe that the results show a curve because more heat was lost for the small-chained molecules due to the lower temperatures of flame being blown away more easily than those flames with higher temperatures.

Anglo American Model Of Corporate Governance Finance Essay

Anglo American Model Of Corporate Governance Finance Essay Corporate Governance Models In many countries, companies are run mostly for the benefit of the shareholders, the rightful owners 0. However, there are circumstances in which the corporation is also run for the benefit of other interest groups such as customers and employees or the general public at large -1. This is the substantive difference between the two primary models of corporate governance namely the outsider model, which is used in Anglo-American countries such as the United States or United Kingdom 1 and the insider model, which is used predominantly in European countries such as Germany or France 4343. The outsider model, also known as the Anglo American model of corporate governance because it is predominantly used in Anglo American states like the United States and United Kingdom, is consistent with the narrow definition of corporate governance in that it has a bias towards shareholders over other stakeholders in the corporation 2. This bias is justified on the premise that in most instances, other stakeholders have recourse to protect their interests through contractual agreement, whereas the shareholder remains unprotected as corporate decisions and activities cannot be predicted in advance 3. Since the shareholders carry the risk of the investment decisions made by the corporation, it is argued they should have the primary say in corporate governance. The justification for this ideology is that the primary function of a corporation is the creation of wealth 4. Permitting corporations to focus on profit maximizations as their primary function ensures that businesses create economic growth as oppose to dealing with social considerations which distract them from this objective. It has been argued that directors are not sufficiently experienced in balancing social interests with economic ones and as a result to require them to do so would result in an inefficient system, which would not promote the economic welfare of the market. The Anglo American model starkly contrasts to the stakeholder-oriented approach which is commonly associated with European countries such as Germany and France 5. Under this model, corporations must not only take into account the interest of shareholders but also those of a wide range of constituencies, as well as of the communities within which they operate 6. This helps to assure that corporations operate for the benefit of society as a whole and not solely in the interests of its shareholders. Such a system places less emphasis on the interests of shareholders for the benefit of the wider community 7. There are several characteristics which distinguish the Anglo American model from the stakeholder-oriented approach. Those unique to the Anglo American model are discussed below. Responsibility for Corporation Management The effective functioning of a corporation is dependent on the interrelationship and interaction of its various institutions 1. These institutions consist of the board of directors, the executive management and shareholders 2. The shareholders of the corporation are the owners who have financially invested in the corporation and the board of directors, as well as executive management, are responsible for the operation of the corporation 3 . The Anglo American models primary focus is on maximising profits for the benefit of its shareholders 4. This model does not facilitate input into the corporations affairs by other parties nor does it permit the managers of the corporation to prioritize issues, such as employees or the environment, unless they are compatible with the profitability of the corporation 5. The executive management is charged with the responsibility of operating the company with the view to maximising shareholder profit. The essential role of the management team, who is lead by the corporations Chief Executive Officer (CEO), is to perform the day-to day operations of the corporation 5555. The CEO plays a critical role in administering the companys affairs. The CEO chooses the management team and, from a practical perspective, has the final say in many issues relating to the corporation despite the provisions of many corporate statutes and procedures. The Board exists primarily to be an effective corporate governance mechanism for hiring, firing, monitoring and compensating management 6666. The Board, by legislation and corporate by-laws, are delegated a wide variety of responsibilities which enable them to set the companys main objectives and monitor their application by the executive management. The Board of Directors is therefore the main organ of the company and acts as agents for its owners by supervising the actions of the managers. There are two popular forms of boards of directors namely, the unitary (one-tier) and dual (two-tier) boards 6. The Anglo American model favours the unitary board 7. Under this system of management, the number of directors is usually set in the corporations by-laws and they are elected by the shareholders at the AGM for a set period of time, normally a one year term 8. The Board consists of executive directors (EDs), who are considered employees of the corporation, and non-executive directors (NEDs), who tend to be professionals or experts that are independent of the corporation 9. While an EDs sole responsibility is to increase profits for the shareholders, there is a potential risk that their interests may conflict with those of the corporation 10. The function of NEDs is to strike a balance between the interest of the shareholders and EDs 11. As independent third parties, they should have no conflict of interest and are therefore equipped to monitor the performance of the EDs impa rtially to the benefit of the shareholders should EDs try to deviate from their principal objective. The success of the Anglo American model is dependent on the extent to which the Board can effectively supervise the actions of the executive management 12. While legislation and regulations seek to ensure a balance between the two entities, in practice the executive management is by far more powerful than the Board 13. The nature of publicly held companies is that the executive management has a great deal of flexibility in determining how they discharge their responsibilities in attaining the objectives of the corporation 14. To encourage them to do so, they are more often than not enticed with substantial compensation packages with performance based remuneration. It has been argued that such compensation packages encourage the executive management to concentrate on short term results as oppose to the companys overall or long-term interests 15. This problem is further compounded by the dominant role the CEO plays in the relationship between the executive management and the Board. Whi le in board meetings the Board is technically supervising the CEO and his management team, the former have a large degree of control over the meetings. The CEO sets the agenda for board meetings and decides what information is to be provided to other directors. With this sort of control, it is very easy for the CEO to limit the powers of the Board 16. However, over the past few years, the dominance of the CEO has been challenged not only by the increasing influence of the board of directors 17,but also by legislation. A clear example of this can be seen from the requirement for the CEO to certify personally in quarterly and annual SEC reports that as far as they know these contain no untrue statements or omissions of material facts which might mislead shareholders and that the firms financial condition and results have been fairly presented 18. The Rights of Shareholders The ability of a shareholder to exercise its ownership rights and protect its investment is a key to the Anglo American model of corporate governance. Due to the fact that the focus of the Anglo American system focus is on the interest of shareholders, this model tends to focus on the nature of ownership and the ability of that ownership to protect its investment 0. One of the clear challenges which arise from the separation of ownership and management is to strike the right balance between the rights of the owners with the control of the managers 1. There are several mechanisms which the Anglo American model utilises to deal with this issue 2. These come in the form of rights which are afforded to the shareholders which enable them to monitor and control the managers of the corporation 3. The Anglo American model utilizes an outsider/arms length system of ownership and control, where share ownership is widely dispersed. Most of the largest corporations in the US and UK are quoted on the stock market and offer their shares to the general public 4. This sort of dispersed ownership is a main feature of this type of model. According to one study, less than one-fifth of the Britains publicly traded companies have an owner who controls more than 25% of the shares 5. It has been argued that the reason for this is because the general public in these co mmunities prefer not to own a high percentage of equities in large firms 6. Having said so, even countries who share a similar trend in ownerships are not always identical. For example, one major difference between the US and UK in terms of ownership is the stronger presence of institutional shareholders in the UK 7. This trend towards ownership by institutional shareholders has an impact on the efficiency of the Anglo American model. The institutional shareholder represents a large number of smaller investors and therefore has the clout to effectively monitor and address managerial misconduct 8. In the UK context, it has become conventional wisdom that prompting institutional investors to consider their responsibility as an important corporate constituent is an additional way to improve managerial accountability 9. Unfortunately, this has not always been the case primarily because many institutional shareholders are driven by short term strategies which may not have as their paramount concern the long term welfare of the corporation. As Hutton says, the consequence [of tax arrangements] has been a flood of institutional savings and acute demand for dividends and the foreshortening of investment time horizons 10. In addition, it has been shown that when dissatisfied with the performance of a corporation, many institutional shareholders would prefer to sell their shareholding than to play some sort of supervisory or monitoring role in the corporation 11. Another problem facing institutional shareholders is how to reconcile their roles as shareholders owning shares in many listed companies with their role as investors of funds 12. Given that their primary motivation is to make profit for their investors, they compete fiercely with each other to attract funds in order to ensure a high return on their investments 13. Consequently, when faced with mismanagement it is easier for them to sell than to hold management to account. Further, it has been argued that even when institutional shareholders were willing to intervene in the corporations affairs, there are practical obstacles which make it difficult for them to do so. One of these is what is commonly referred to as the motivation factor. Proctor and Miles define it as follows There is a disincentive for single institutional shareholders to expend time, effort and resources correcting what they perceive as bad management if other fellow institutional shareholders do not also support this action. Institutional shareholders have different priorities and agendas at any one time. It may be difficult to pool resources to tackle together what to some institutional shareholders may not be a problem at all. 14 In light of the challenges institutional shareholders face in monitoring management of companies, the Anglo American model can only be successful if there are other mechanisms in place which can be used to protect shareholders 15. The main focus of the Anglo American model is in the protection of shareholders 16. In this respect, both the UK and US system are similar in the way corporate directors and senior managers are held accountable to their shareholders 17. Both systems encourage shareholders to work as monitors over managers and senior executives 18. To facilitate this monitoring process, shareholders have many statutory rights and common law rights. The main right afforded to shareholders that provide them with a means of controlling the management of the company is their statutory right to vote on decisions at the Annual General Meeting (AGM) 19 . The AGM is an annual meeting which shareholders are entitled to attend 20. At this meeting, the shareholders are informed about the previous and future activities of the corporation 21. It is an opportunity for them to receive copies of the companys accounts as well as review fiscal information for the past year and ask any questions regarding the directions the business will take in the future 22. In addition, the shareholders are able to elect the Board of Directors 23. This right is designed to operate as a check on the managerial actions of the Board of Directors and executive management. Shareholders are able to participate in discussion regarding the companys welfare and vote on important affairs relating to the company 24. While the right to vote at a corporations AGM may at first glance appears to be an effective means for shareholders to protect their interest, in practical terms this is often not the case. Publicly held companies usually consist of a large number of small owners who own very small fractions of the corporations shares 25. Having a small proportion of the corporate equity means that shareholders have little influence on managerial decisions 26. Furthermore, due to the fact that their shareholding is insignificant, it is unlikely to give them any real power at AGMs where they are suppose to be able to exercise their legal rights. As a result, many shareholders are not incentivised to attend AGMs. For this reason, the Anglo American model has additional mechanisms which are designed to enhance the control of the managers by shareholders. Most, if not all, of these legal and organisational safeguards have been devised in response to abuses of corporate power by managers who fail to put t he interests of shareholders first. These mechanisms are intended to encourage minority shareholders to be active in protecting their rights and holding directors accountable for actions 27. The three main mechanisms which will be discussed below are cumulate voting, appraisal rights and shareholders derivative action 28. Cumulative voting is a process by which minority shareholders are permitted to cast all their votes in the election of directors for a single candidate 29. Through this process, the power of the minority is strengthened because they are able to pool their votes together and secure a member of the Board who they feel confident will look after their interests in the corporation 30. Shareholders are also given the right to seek appraisal of their shares in certain fundamental transactions for example where a merger takes place. In these circumstances, a shareholder can seek a court valuation of their shares based upon fair value and be paid in cash 31. This right to sell ones shares can be seen as a protective measure for shareholders, because it encourages directors to seek the highest price in such transactions so as to avoid several shareholders exercising this right 32. Having said so, there are some disadvantages to this right. In most cases the methods of valuation are conservative and therefore shareholders do not necessarily benefit in real terms. The process is time consuming and payments need not be made until the process is complete. Attorneys and experts fees can be high and interest is not assured. Of all of these rights, the derivative suit against directors is probably the strongest tool which can be used by shareholders, particularly minority shareholders. A derivative suit is a claim brought by a shareholder on behalf of the corporation against parties allegedly causing harm to the corporation 33 . This right strengthens the position of shareholders, in particular minority shareholders. As a common law country where case law principles are well developed and where shareholders are said to be better protected, judicial intervention is believed to be an essential element of good corporate governance. A derivative action would not be effective unless the management of a corporation has a duty to its shareholders. The board of directors is a critical part of the corporation and as a result must be held to account to the corporations owners if good corporate governance is to prevail. In the UK, directors are subject to common law fiduciary duties and case law still plays a central role in holding managers and board of directors accountable to the corporation as a separate legal entity. Seeing the relationship between the directors and shareholders as one of agency implies that directors should be elected by shareholders and can be dismissed by them at the AGM. The focus therefore is clearly on ensuring that those who manage the corporation are always acting in the best interest of the corporations shareholders. The lean of the Anglo American system to protect the interests of shareholders is most evident when looking at the manner in which it deals with takeovers and acquisitions of corporations. In instances where there is a takeover bid, shareholders need to be given an opportunity to decide on the merits of a takeover so as to ensure that shareholders of the same class are afforded equivalent treatment by an offeror and thus are being treated fairly. The Anglo American model therefore provides a degree of protection to shareholders in instances where a corporation is subject to a takeover bid. For example, in the UK, the City Code on Takeovers and Mergers 7777 (the City Code) ensures that shareholders are treated fairly and are not denied an opportunity to protect their interest 8888. The City Code essentially essentially all defensive actions when a takeover bid is pending or when the target has reason to believe that a bona fide offer might be imminent 9999. Once a bid is made, any defensive action requires shareholder approval. This means management of the corporation cannot supersede the interests of its shareholder, who so ever it shall be. UK case law emphasises that the fundamental decision on takeovers belongs to shareholders, not incumbent managers and generally holds that management actions which go against shareholders rights are not pursuant to a proper purpose and therefore fall outside the scope of the delegated management authority afforded by the common law. Disclosure and Transparency Disclosure and transparency are important in managing the relationship between shareholders on the one hand and the executive management on the other. Shareholders have a right to make decisions in relation to the corporation based on information that is accurate and correct 1. This is the only way they can be sure that the corporation is being managed properly. Financial reporting frauds have attracted high-profile attention recently provoked by widespread irregularities at large corporations 2. It is managements responsibility to prevent such problems before they begin 31. To do so, it is necessary to establish a control environment designed to identify and immediately stamp out any fraudulent reporting that does occur 32. One of the tools which is used to protect shareholders interests in this respect is the audit committee 3. An audit committee is an operating committee of the Board of Directors charged with oversight of financial reporting and disclosure 4 . Committee members are drawn from members of the companys board of directors, with a Chairperson selected from among the committee members 33. To be effective, the committee must be composed of independent outside directors with at least one qualifying as a financial expert 34. The audit committee plays an important role as a board subcommittee. The Smith Report 5 explains its role as follows: While all directors have a duty to act in the interests of the company, the audit committee has a particular role, acting independently from the executive, to ensure that the interests of shareholders are properly protected in relation to financial reporting and internal control. An analysis of the corporate governance codes of twenty European countries by Collier and Zaman (2005) 6 showed that their codes assign a set of functions which should be fulfilled by an audit committee as follows: a) oversight of external audit; b) oversight of internal audit; c) involvement in external auditor selection or dismissal; d) oversight of risk and internal control reporting by the board; and e) oversight of financial reporting quality. In carrying out these functions, the committee operates as a liaison between the Board, external auditors, internal auditors, the finance director and the operating 7 . They are for all intents and purposes the final safeguard in ensuring the financial statements of the corporation which are released to shareholders and other stakeholders are accurate. The Board often relies on the audit committee to notice and question any unusual business practices, aggressive accounting methods or violations of the companys code of business conduct. But at many companies audit committee members may not have the expertise in matters of internal control 8. In addition, some people serving on audit committees have very little accounting or financial experience 9. Accordingly, audit committee members need a reference guide to their responsibilities. That is the function of an audit committee charter 10. A comprehensive charter enhances the effectiveness of the audit committee, serving as a road map fo r committee members 11. A well-thought-out charter also should describe the committees composition and specify access to appropriate resources. OECD PRINCIPLES Good corporate governance is key to the integrity of corporations, financial institutions and markets 1. They also play an important role in promoting the health and stability of a states economy. Many international organizations have come to understand the importance of good corporate governance including the Organization for Economic Cooperation and Development (OECD) 2. To this end, the OECD established the first set of internationally acceptable standards of corporate governance, known as the OECD Principles, which have become a reference point used by both developed and developing countries not only for self-assessment but also for issuing and developing codes of best practice 3. The OECD work in corporate governance is centered on promoting the implementation of these principles throughout the world. They are arguably one of the most substantial efforts made to highlight the importance which should be given to corporate governance. The OECD Principles were first released in 1999 and revised in 2004 4. It sets out the key standards of corporate governance which are required for international financial stability. The Principles are intended to assist governments to evaluate and improve the legal, institutional and regulatory framework for corporate governance in their own countries 5. The Principles primarily focus on publicly traded companies, but provide a good guideline for other forms of corporations. The main principles of the OECD Principles 6are: The corporate governance framework should promote transparent and efficient markets, be consistent with the rule of law and clearly articulate the division of responsibilities among different supervisory, regulatory and enforcement authorities. The corporate governance framework should protect and facilitate the exercise of shareholders rights. The corporate governance framework should ensure the equitable treatment of all shareholders, including minority and foreign shareholders. All shareholders should have the opportunity to obtain effective redress for violation of their rights. The corporate governance framework should recognise the rights of stakeholders established by law or through mutual agreements and encourage active co-operation between corporations and stakeholders in creating wealth, jobs, and the sustainability of financially sound enterprises. The corporate governance framework should ensure that timely and accurate disclosure is made on all material matters regarding the corporation, including the financial situation, performance, ownership, and governance of the company. The corporate governance framework should ensure the strategic guidance of the company, the effective monitoring of management by the board, and the boards accountability to the company and the shareholders. In addition to the OECD, business-related organizations like the Centre for International Private Enterprise have also considered corporate governance to be important in the promotion of good business practices 7. The Centre has an affiliate located in Egypt which was established to educate, raise the awareness of the importance of establishing suitable corporate governance standards in the Middle East and North Africa (MENA) region. 8