Corporate Reputation

Success of TIC was linked to the innovative business models to deliver shared value for both societies and shareholders, by leveraging synergies cross businesses to create new differentiated products and superior value propositions. This was also the period when TIC thought of working towards building an ecosystem rather than trying to protecting it. In true sense, It differentiated itself from the rest of world in such a manner that the competitors were left behind by at least two generations. Sole purpose tot TIC was to serve as a market anchor to the entire value chains.As Shari Y. C. Devonshire, present chairman of TIC Ltd said, â€Å"A country's brands are a reflection of its competitive strengths and a manifestation of its innovation and intellectual capacity. I strongly believe that a country's economic capacity is significantly enriched when its institutions build and own internationally competitive brands. Winning brands serve as market anchors to support the competitivenes s of the entire value chains of which they are a part Strong domestic brands create much larger value since they create, capture and retain value within the country.Your Company (TIC) takes justifiable pride in creating world-class Indian brands that have demonstrated Immense vitality in the global Indian market place. † Several initiatives which were way different from the conventional marketing mantra ere introduced by TIC and it created a value chain that connected a wide range of stakeholders from the villagers, peasants to the end users. E- Copula, social and ‘Offs initiatives. These laid platforms that connected the rural India to the rest of the world; creating a two way transaction flow.Also it focused on delivering triple bottom line. Flipping through the past: As mentioned, TIC has faced many ups and downs since its inception and the experience it carried forward throughout its Journey helped the organization work on many initiatives which were way unconvention al. It pioneered the idea of â€Å"cataloging and channeling investments towards upgrading of human capital expansion and modernization of infrastructure and productivity enhancement in the agric-sector. † The rationale of the idea was to create a shared value in terms of â€Å"a commitment beyond the market†.For Ashes Mamba's, vice president and head of Social investment, business could and should never overlook the twin problems of India, â€Å"economic inequity and depleting natural resources†. TIC being traditionally a agriculture based company, couldn't ignore both these factors invested everything engendering these two factors in mind. Creating a societal as well as shareholder value: The key to achieve and sustain economic growth of modern India, as identified by TIC, was simply â€Å"by enhancing the competitiveness of the Indian farmer and effectively linking them to remunerative opportunities in the world market. Since agriculture was the primary mean er of livelihood of more than 58. 4% population of India and with agriculture being the base of It's business, TIC worked for the betterment of the farmers thereby making its base strong for the future endeavor. E-Copula was a challenging business concept that was meant to embed the social goals of empowering the farmers and trigger a cycle of higher productivity, enlarged capacity for future investments.E-Copula was digitization of the agricultural sector thereby enhancing the competitiveness of the agric value chain. Real time information and customized knowledge provided e-Copula enhanced farmers' ability to make decisions and align their farm outputs with market and consumer demand. This was meant to build a system of trust with the farmers â€Å"as a reliable supplier of goods and reveries on the one hand and as a buyer of high quality, cost effective farm output on the other hand. This finally resulted the company to become one of the largest exporters of agricultural product s. 4-pronged strategy to tackle Climate Change: By the end of 2009, TIC unveiled its 4-pronged strategy to meet challenges of climate change. It was voluntary and transparent disclosure of the Company's sustainability initiatives and its contribution to building economic, environmental and social capital to secure the long term interests of its stakeholders.Recognizing the challenges of limited change and global warming and its impact on competitiveness, TIC has adopted decisive strategies to progress its own efforts to support national and international endeavors in mitigating the effects of climate change. TIC is ‘carbon positive' for 4 consecutive years, currently sequestering twice the amount of carbon status, creating rainwater harvesting potential that is more than twice that consumed by the Company. Irrigating water stressed areas is a critical need following the impact of climate change on Indian's farming sector.It's sustainable agricultural raciest also help farmers adapt to the vagaries of climate change. [www. Doctoral. Com] Integration, synergy and growth: The goal of inclusive and sustainable growth: â€Å"The goal of inclusive and sustainable growth – the philosophy underlying the Triple Bottom Line approach – is based on the realization that economic growth cannot be engendered without embracing the vast multitudes living in poverty and addressing the alarming depletion of finite natural resources.Over 75% of those below the poverty line reside in rural India, where agriculture continues to be the predominant resource of livelihood. The declining share of agriculture in GAP has led to the present situation where nearly 60% of Indian's population shares barely 22% of output. In terms of the foundational view of Dry. Mammary Seen, poverty manifests itself not only as material impoverishment but also in the lack of capacity for the poor to emerge from such a condition.Such fundamental deprivations of freedom suffered by indivi duals affect their economic performance as well as their ability to seize opportunities offered by functioning and expanding markets. Inclusive and sustainable growth is therefore crucially dependent on creating the capacity to consume among the rural poor. † Riding in the belief of inclusive growth, TIC committed itself to India and beyond the market.With the initiatives like â€Å"farm to food product value chain†, † tree to textbook value chain†, â€Å"aggregate value chain† â€Å"women's empowerment†, TIC not only proved its commitment beyond business motive but also established itself as an organization which put nation before company. The problem: The problem in front of TIC is two-fold: 1. With its strong value chain linking the rural ND urban economies, especially the fact that rural marketing is the core competence of TIC, should the conglomerate invest in livestock development program so that it can enter into the dairy business? . If the answer of the previous question is yes, then how should the company go about it? Should it consider a pure business model or like several other C.V. initiatives, it should work on a model of shared value connecting the villagers in the value chain? Options: 1 . Simply working on a business model by adhering to the law of the land and paying due taxes without exploiting or exploring the natural resources. . Not restricting to only business but working for the societal good by investing on philanthropic work. . Going beyond CAR to help out the Nags, self help service providers of the villages to develop and work for the community betterment. 4. Create a sustainable value chain as its other initiatives by leveraging the innovative capacity of the organization and economic development. Recommendation: With the objective of bringing about a significant increase in yield rates during the lactation period, TIC stepped up its breed improvement program initiated in 2004-05.From 32 Cattl e Development Centers (CDC) at the close of 2004- 05, the number increased to 72 CDC covering 1 ,500 villages during 2005-06. A total of 27,392 Artificial Insemination (Ass) were conducted during the period, taking the cumulative total to 46,200. The program recorded 3,531 live births during 2005-06, taking the cumulative total to 5,544 high- yielding crossbreeds. The most significant breakthrough in Mugger, Briar, was that the tie-up with Sudan Dairy (COMBED) for supply of milk from this region finally became a reality. TIC portal] Since, TIC already has a huge experience in the rural arrest developing program and a strong commitment towards the society, it can defiantly work on the dairy business by enabling families to upgrade to high-yield livestock and form co-operatives to market their milk. In this process TIC can turn a dormant family resource into an easily adoptable and dynamic rural enterprise. TIC can train and equip technicians to provide an integrated package consistin g of artificial insemination, cattle health and nutrition, pregnancy and post-natal services right at the farmer's doorstep.This development can also act as a bridge to link its DOD business by providing self sufficiency and thereby, in long term enabling a greater value creation. Examples from other industry: As an example of value chain system of an organization to strengthen its base, we would like to discuss about GAMMA and its most trusted brand, Maul. Of course, there is a difference between Maul and TIC about the kind of organization they are, but in terms of C.V., Maul can provide a good example.CAR-sensitive Business Philosophy: The first step towards discharging the CAR is the business philosophy of the GAMMA. It is twofold: one, to serve the interests of milk producers and second, to provide laity products to consumers as value for money. Evolution of an organizational system has ensured that the corporate social responsibility towards the primary milk producers, village and the ecological balance is fulfilled. The milk producers are paid for their milk in accordance with market forces and realization of value for their produce.Invariably the price paid to the member-producers in Gujarat is higher by 15 per cent than the national average. [1] CAR-orientation To Distributors ; Retailers: The GAMMA has identified the distributors and retailers are its important link in its o not get any opportunity of exposure to latest management practices. The GAMMA realized that it was a corporate social responsibility to strengthen the core business processes of its distributors so as to keep them in mainstream business and compete with those with formal training in management.The GAMMA has developed and trained all its distributors through Value-Mission-strategy Workshops, competence building, Maul Hyatt, Maul Quality Circle meetings, computerizing, and electronic commerce activities. Competency Building Module of the GAMMA is meant to infuse repressions selling skills by making the distributors and their salesmen aware of latest sales management tools and techniques; enhance their knowledge of products; positioning and segmentation strategies for various products.Through one to one talk with the farmers, the distributors and salesmen realize MAUL is a large business of small farmers and by selling MAUL products; they are discharging a social responsibility towards a large number of poor farmers whose livelihood depends upon their skill and integrity. [1] 1 . Http://www. Painlessness's. Com/news/corporate-social-responsibility-the-maul- yam 12172/4

Background And History Of Enron Accounting Essay

Enron was founded in 1985 through the amalgamation of Houston Natural Gas and Internorth, a natural gas company based in Omaha, Nebraska, and rapidly became the major energy and petrochemical trade goods bargainer under the leading of its president, Kenneth Lay. In 1999, Enron moved its operations online, touting the largest online trading exchange as one of the cardinal market shapers in natural gas, electricity, rough oil, petrochemicals and plastics. Enron diversified into coal, transportation, steel & A ; metals, mush & A ; paper, and even into such trade goods as conditions and recognition derived functions. At its extremum, Enron was describing grosss of $ 80 billion and net incomes of $ 1 billion, and was for six back-to-back old ages lauded by Fortune as America ‘s most advanced company. The sudden surrender, nevertheless, of Enron Vice-Chairman Clifford Baxter in May of 2001 and subsequent surrender of CEO Jeffrey Skilling in August of 2001, both of whom retired for unrevealed personal grounds, should hold served as the first indicant of the problems brewing within Enron. Mr. Skilling had been elected CEO merely months before, and Mr. Baxter had become Vice-Chairman in 2000. Finally, amidst analysts ‘ and investors ‘ inquiries sing unrevealed partnerships and rumours of crying accounting mistakes, Enron announced on October 16, 2001 it was taking a $ 544 million dollar after-tax-charge against net incomes and a decrease in stockholder equity by $ 1.2 billion due to related minutess with LJM-2. As will be discussed in the undermentioned subdivision, LJM-2 was partnership managed and partly owned by Enron ‘s CFO, Andrew Fastow. The LJM partnerships provided Enron with a spouse for plus gross revenues and purchases every bit good as an instrument to fudge hazard. Less than a month subsequently Enron announced that it would be repeating its net incomes from 1997 through 2001 because of accounting mistakes associating to minutess with another Fastow partnership, LJM Cayman, and Chewco Investments, which was managed by Michael Kopper. Mr. Kopper was the pull offing manager of Enron ‘s planetary finance unit and reported straight to the CFO, Mr. Fastow. Chewco Investments was a partnership created out of the demand to deliver an outside investor ‘s involvement in another Enron partnership and will be discussed at length in the undermentioned subdivision. Such restatements sparked a formal probe by the SEC into Enron ‘s partnerships. Other questionable partnerships were coming to visible radiation, including the Raptors partnerships. These restatements were prodigious, and combined with Enron ‘s revelation that their CFO Mr. Fastow was paid in surplus of $ 30 million for the direction of LJM-1 and LJM-2, investor assurance was crushed. Enron ‘s debt evaluations later plummeted, and one month subsequently, on December 2, 2001, Enron filed for bankruptcy protection under Chapter 11.Q. 1 ) What were the steps which Enron had missed to regulate during the full dirt?At the clip of its filing for bankruptcy in December 2001 the complex industrial construction of Enron was to the full grasped by few foreigners, and more complete information as to the true degrees of its assets, liabilities and off-balance-sheet places was still blossoming. An thought of the house ‘s complexness can be obtained from such characteristic s as its 2,800 offshore units and the 54 pages required to name people and companies owed money by Enron. This was a far call from the house which in the 1980s specialized in the proviso of natural gas grapevines and related services. But from these beginnings Enron expanded unrelentingly into trading activities in 1,800 merchandises or contracts and 13 currencies. Part of the motive of Enron ‘s behavior was similar to that of many other houses in the 1990s, deducing from the links between stock monetary values and executives ‘ wage and wealth, above all through stock options. However, in Enron ‘s instance the factor of its recognition evaluation was besides of import. The house ‘s rapid enlargement required entree to big sums of funding ; and as its engagement in trading activities grew, so did the importance of its recognition evaluation since this determined its funding costs and crucially the willingness of its counterparties to merchandise with it. In order to keep the house ‘s recognition evaluation Enron sought it to be indispensable that it portrays a favorable income, while avoiding an inordinate purchase on Enron ‘s balance sheet. So as to accomplish this, the house resorted to extraordinary goings from transparence which affected the house ‘s dealingss with investors and creditors, its ain board of managers ( and therefore an of import portion of its internal control ) , and other stakeholders of the corporation. The house ‘s usage of particular purpose entities ( SPEs ) was portion and package of the patterns employed to pull strings the house ‘s net incomes figures and balance sheet, as was resort to hedge and the usage of derived functions in struggle with coverage regulations or concern logic ( or both ) . Many of the minutess associated with this use were besides associated with self-dealing by Enron executives taking to significant personal enrichment. In summing up the causes for Enron ‘s autumn are ascribed to Enron ‘s failure to detect good corporate administration. Enron ‘s showy use of grade to market accounting. Enron ‘s complex minutess with particular purpose entities. This analysis has been restricted to Enron ‘s non observation of good corporate administration. Corporate administration is concerned with the relationships between a concern ‘s direction and its board of managers, its stockholders and loaners, and it ‘s other stakeholders such as employees, clients, providers, and the community of which it is a portion. The capable therefore concerns the model through which concern aims are set and the agencies of achieving them and otherwise monitoring public presentation are determined. Good corporate administration follows rules which still vary significantly among states and which are presently the topic of assorted enterprises designed to accomplish understanding on an acceptable model of basic criterions. Execution of rules of good corporate administration presupposes satisfactory public presentation on the portion of several different parties from both the private and public sectors. The function of these parties must be complemented by effectual ordinance, which in the instance of a house with operations every bit complex a s Enron includes non merely major regulators of the fiscal sectors but besides the regulator of the energy sector. Certain facets that will be dealt, herein, are: Enron ‘s system of inducements and countenances Board of managers Accountants/auditors Banks, Financial analysts and SECsEnron ‘s system of inducements and countenancesThe influence of the house ‘s stock monetary value on the inducement system for Enron ‘s employees became progressively of import during the long fiscal roar of the 1990s. In the instance of senior staff this reflected a wage system of which a cardinal portion consisted of stock options. For other staff much of their nest eggs was invested in Enron stock with the active encouragement of Enron ‘s ain direction. An of import portion of this procedure consisted of retirement nest eggs programs under which staff ‘s ain parts were topped up by parts from Enron itself. Many of Enron employees had invested significant amounts in Enron ‘s ain stock ; this was actively encouraged by Enron ‘s direction itself. But at the same clip Enron officers and a few managers were themselves selling the house ‘s stock on a monolithic graduated table, gross revenues no uncertainty partially due to normal portfolio variegation but besides likely to hold been progressively influenced by insider cognition of the turning precariousness of Enron ‘s existent state of affairs.Board of managersIn order to accomplish good corporate administration an of import function is attribute to histrions in the board of managers and independent external hearers. Key maps of the board of managers, which were peculiarly relevant in the instance of Enron, include choice and wage of executives, being watchful to possible struggles of involvement adversely impacting the house, and guaranting the unity of the company ‘s systems of accounting and fiscal coverage . Prerequisites for satisfactory public presentation include entree to accurate and timely information bearing on the fulfillment of these duties. It should be emphasized that when looking at the managers of Enron ‘s Board it was apparent that the managers did non map independently. Fiscal ties between Enron and a bulk of its managers seem to hold weakened their objectiveness in their inadvertence of Enron. Such relationships with Enron may hold made it hard for such board members to be nonsubjective or critical of Enron direction. Many of these Enron Board members may hold felt that their compensation might be endangered by oppugning such concerns in Board meetings, therefore, bring forthing weak â€Å" nodders and flunkies † as managers and thereby, lending to the autumn of Enron. One widely recognized rule of good corporate administration is that the board be independent of direction. It is indispensable that a board be capable of looking objectively at the direction and outside professional advisers of a house, and Enron ‘s Board was non capable in this regard. It should besides be mentioned here that of the compensation paid to the board a significant proportion was in the signifier of stock options, a pattern capable of exercising on the board pressures to O.K. determinations probably to hold a favorable influence on the house ‘s stock monetary value similar to those besides exerted on direction. The Board should work to assist avoid struggles of involvement, guarantee scrutinizing independency and accurate fiscal coverage, oversee compensation patterns, every bit good as many other dislocations that occurred within Enron. Compromised by its restraints and conventionality the Board failed in its undertaking.Accountants/auditorsSing scrutinizing good corporate administration requires high-quality criterions for readying and revelation, and independency for the external hearer. Enron ‘s external hearer was Arthur Andersen, which besides provided the house with extended internal auditing and consulting services. The history of dealingss between Enron and Arthur Andersen suggests that they were often characterised by tensenesss due to the latter is scruples refering several characteristics of Enron ‘s. Materials from Audit Committee meetings indicate that its members were cognizant of such bad accounting methods being employed by Enron, but did non move on them. These concerns, nevertheless, were ne'er decently addressed and were non efficaciously communicated to the Audit and Compliance Committee by Andersen. It is of import to stress that Enron was utilizing engineerings ( or complex fiscal techniques ) that helped to befog the house ‘s true fiscal consequences. Had investors been more cognizant of and understood the significance of such extremely structured partnerships, they would non hold been as deceived by the fiscal consequences and would hold looked more skeptically at the house ‘s fiscal status. The deficiency of fiscal coverage transparence represents the failure of another bed of corporate administration protection that stockholders are usually provided. Stockholders rely on the fiscal studies and information that direction produces. When such studies are inaccurate and have been manipulated stockholders are stripped of another mechanism that helps to truly supervise the public presentation of direction, which is what happened with the instance of Enron.Banks and Financial analystsEnron ‘s Bankss were profoundly involved in the house ‘s resort to techniq ues for the use of its reported net incomes and balance sheet. The Finance Committee should hold taken a more proactive function in analyzing and supervising the minutess. It should be seen that the Finance Committee holding been cognizant of the unstable nature of the related-party minutess in Enron, failed in its duty of supervising the minutess. A forum for more extended inquiring from managers sing the minutess was the ground that such a commission existed. Their occupation was to examine and take apart the minutess that they reviewed and to supervise hazard, neither of which they did for these related-party minutess. Most fiscal analysts covering Enron stock continued to urge it to investors good into the fall of 2001, even as disclosures refering Enron ‘s accounting and direction weaknesss began to proliferate. Many of the analysts made this recommendation even though they admitted that they did non to the full understand the house ‘s operations and construction.Q. 2 Lacuna in the bing jurisprudence due to which the Enron dirt took topographic pointThe Enron LoopholeThe Commodity Exchange Act exempts certain energy derived functions contracts from ordinance by the Commodity Futures Trading Commission ( CFTC ) . These freedoms are popularly known as the â€Å" Enron loophole. † Soaring energy monetary values have raised concerns about whether the CFTC has adequate information about these unregulated markets to supervise energy trading in a comprehensive mode. The Farm Bill established a more rigorous regulative government for electronic trading installations that offer contracts that play a important function in puting energy monetary values. A figure of other measures in the hundred-and-tenth Congress would enforce new coverage or regulative demands on the bilateral energy barters market, which was non addressed by the Farm Bill. This study will be updated as legislative developments warrant. In 2000, Congress passed the Commodity Futures Modernization Act whose cardinal intent was to put out the conditions under which derivative fiscal contracts – instruments like hereafters, options, or barters, whose value is linked to the monetary value of some implicit in trade good – could be lawfully traded in the over-the counter ( OTC ) market, that is, away the hereafters exchanges that are regulated by the Commodity Futures Trading Commission ( CFTC ) . The CFMA established three classs of trade goods and made them subject to changing grades of ordinance: fiscal trade goods ( such as involvement rates, currency monetary values, or stock indexes ) were defined as excluded trade goods. Excluded trade goods can be traded in the OTC market with minimum CFTC inadvertence, provided that little public investors are non allowed to merchandise. A 2nd class is agricultural trade goods ; here, because of concerns about monetary value use, the jurisprudence specifies that all derived functions based on farm trade goods must be traded on a CFTC-regulated exchange ; unless the CFTC issues a specific freedom after happening that a proposed OTC agricultural contract would be consistent with the public involvement. Finally, there is a 3rd â€Å" all-other † class – an exempt trade good – which includes whatever is neither fiscal nor agricultural. In today ‘s markets, this means chiefly metals and energy trade goods. The statutory freedom from ordinance provided by the CFMA for exempt trade goods is normally known as the â€Å" Enron loophole. † Before its prostration in 2001, Enron Corp. was a innovator in OTC energy trading and developed an electronic market ( Enron Online ) for trading physical and derivative contracts based on a figure of energy merchandises. Defined in the jurisprudence as fiscal establishments, insurance companies, broker/dealers, authorities units, professional hereafters bargainers, and concerns and persons run intoing certain plus and income thresholds. The given is that these are sophisticated bargainers who do non necessitate the protections offered by authorities ordinance. â€Å" Trading installation † is defined in jurisprudence as a â€Å" installation or system in which multiple participants have the ability to put to death or merchandise understandings, contracts, or minutess by accepting commands and offers made by other participants that are unfastened to multiple participants in the installation or system. † These are defined as eligible contract participants who ( 1 ) trade in the physical trade good or ( 2 ) on a regular basis provide hazard direction or hedge services to those who do. Defined as a trading installation, that operates over an electronic or telecommunications web and maintains an audit trail of minutess. Basically, one of the ways to counter fiscal dirts is to better the quality of scrutinizing services. However, the current legal, regulative and corporate administration model is robust and sufficient to protect the market. This is hard because the figure of fiscal dirts affecting hearers is increasing. Furthermore, whilst corporate administration may hold improved but the hearers ‘ responsibilities and duties are shrouded in enigma and mystique as of all time. There is a blank in the current legal model as the responsibilities and duties reposed on hearers under common jurisprudence, ‘the Companies Act ‘ , BAFIA and the CMSA are unequal in countering the fiscal dirts.Other defectsEnron, an energy trading company is the first dirt which shook up the scrutinizing profession although there were many instances affecting hearers since the 18 century. Enron has caused a crisis to the assurance in hearers and the dependability of fiscal coverage. The audit quality and the independency of the hearers were questionable. This is because the hearers, who were Arthur Andersen, were non merely having fees for scrutinizing but for non-audit services excessively i.e. for consultancy services. In 2001, Arthur Andersen earned US $ 55 million for non-audit services. Furthermore, there were regular exchanges of employees within Enron from Arthur Andersen. Under the common jurisprudence responsibilities and duties, there is no responsibility reposed on the hearers to avoid struggle of involvements. Therefore, the fact that Arthur Andersen was offering non-audit services is non a breach of jurisprudence in the first topographic point. Under ‘the Companies Act ‘ , although independency of the hearers is indispensable as can be seen in S. 9 of ‘the Companies Act ‘ which disqualifies certain individuals from being eligible as hearers, the proviso does non cover with issues refering the offering of non-audit services to the company. This is because the proviso merely prohibits an employee, officer, spouse or employee or employer of an officer from being appointed as an hearer. The offering of the non-audit services by the hearers to a company is in the capacity of an independent contractor. The jurisprudence assumes that such individuals are independent. This is because independency is the basis for scrutinizing. However, there will be struggle of involvement and hence the independency of the hearer will be affected. Although Arthur Andersen was doing a study on the company ‘s histories, they did non describe fraud to the stakeholders. This is because the fraud was committed by the direction. Kenneth Lay took place US $ 152 million although the company was confronting a loss. If the hearers were to describe they likely will non be appointed in subsequent old ages or be engaged for non-audit services. They made sure that they were in the direction ‘s good books. They maintained confidentiality but for the incorrect grounds. The U.S. authorities assured the stakeholders that Enron was merely a instance of one bad apple. Nonetheless, in 2002, WorldCom which is one of the biggest telecommunications company in US collapsed. The issue sing hearers reached a high degree due to Enron. It was found that the hearers, Arthur Anderson, did non take proper stairss in observing accounting abnormalities. Although it is the responsibility of the hearers to observe accounting abnormalities, they failed to make so. Since they failed to make so truly, they should be apt. As a consequence of Enron, the audit house Arthur Andersen in Malaysia was dissolved. On the other manus, it is hard to find the scope of the hearers ‘ responsibilities and duties. This is because in at least four affairs, the American International Group Incorporated ‘s hearer i.e. PricewaterhouseCoopers are cognizant of debatable accounting but decided that they were non material. If the position is shared by the scrutinizing profession, it can be considered that the hearers have performed their responsibilities and duties consequently. However, the position must besides be agreed by the tribunals before set uping whether the hearers have performed their responsibilities and duties consequently. When Enron took topographic point, it was thought it could non go on in Malaysia. In fact the SC believed that since Malaysia patterns different set of accounting and auditing regulations. However, much before Enron, there have been instances which involved scrutinizing dirts. In fact the dirts pose a changeless menace to the regulative construction, public trust and assurance in the market economic system. Therefore, it has raised concerns sing the credibleness of the audit profession. The consequence of these alterations was that, what had antecedently been a system of healthy cheques and balances became a united forepart at the disbursal of investors. Alternatively of holding opposed involvements that served to protect investors, they now had an unhealthy common involvement. The fiducial responsibility that executives owed to stockholders took a back place to the chase of a short-run addition in stock monetary value. Accountants, who had once policed fiscal studies in order to protect the public, now had a strong inducement to assist executives to make whatever it took to hike portion monetary value in order to maintain them as confer withing clients. And investing bankers no longer served as sure advisors to their clients, reconnoitering out the best securities. They found it more advantageous to work with executives and comptrollers to finance trades that raised stock monetary values, even if it meant selling out their clients.Q.3 ) What were the Amendments tha t were brought in station Enron Issue?The Enron Scandal caused a loss of an estimated $ 74 billion to the stockholders. After the prostration of Enron, several issues were earmarked for the attending of reformists including: – The function of concern financess in political candidacy. – The extent of energy companies ‘ influence on national energy policy. – The demand to reform pension Torahs to halt over-exposure to one stock and forestall a company from puting its pension financess in its ain stock. – The demand for higher criterions of transparence and revelation in the audit profession. – Potential struggles of involvement between consultancy and scrutinizing work undertaken by fiscal houses. – The demand for tighter ordinance on fiscal derived functions trading.Sarbanes -Oxley Act ( SOX ) of 2002The sudden prostration of Enron Corporation in late 2001, amid disclosures that its public accounting statements had been manipulated and falsified to hide the company ‘s true fiscal place, was the first in a series of major accounting dirts affecting American corporations. The response of the 107th Congress was to go through the Sarbanes-Oxley Act ( P.L. 107-204 ) , sometimes described as the most sweeping amendments to the securities Torahs since the 1930s. The SOX came as a US legislative response to the recent batch of accounting dirts. It provided for conformity with comprehensive reform of accounting and required for publically held companies to advance and better the quality and transparence of fiscal coverage by internal and external hearers. Companies must â€Å" list and track public presentation of their stuff hazards and associated control processs. â₠¬  Companies can no longer do loans to company managers. SOX Act besides did non turn to other cardinal causes: misaligned inducements ( e.g. , displacement from hard currency to stock option compensation focal point on short-term net incomes instead than longer run net income public presentation. Congress ‘s purpose in go throughing Sarbanes-Oxley was to reconstruct assurance in fiscal markets by increasing corporate answerability, heightening public revelations of fiscal information, and beef uping corporate administration. More terrible condemnable punishments for securities fraud were besides enacted. The Securities and Exchange Commission ( SEC ) has adopted more than a twelve concluding regulations to implement the Act ‘s commissariats. These regulations raise criterions of answerability for corporate executives, boards of managers, independent hearers, and corporate lawyers. Some of the of import characteristics of the Act were: The Act created a national Accounting Oversight Board that, among other activities, must set up the moralss criterions used by CPA houses in fixing audits. It was required that the hearers retain audit working documents for specified periods of clip. It was required that hearer rotary motion forbiding the same individual from being the lead hearer for more than five old ages. It was required that the CEO and CFO certify that the company ‘s fiscal statements are true, just and accurate. The Act prohibited corporations from widening personal loans to executives and managers. It was required that the audited company discloses whether it has adopted the codification of moralss for its senior fiscal officers. It was required that the SEC on a regular basis review each corporation ‘s fiscal statements. The Act prevented employers from retaining against research analysts that write negative studies. It imposed condemnable punishments on hearers and clients for falsification, destructing, changing or hiding records. It imposed all right or penalty on any individual that defrauds stockholders. It increased punishments for mail and wire defraud from 5 to 20 old ages in prison. The Act establishes condemnable liability for failure of corporate officers to attest fiscal studies.A Few Possible Lessons and actionsa-?We need a structural inspection and repair of the system, including:New regulations forbiding houses that do the accounting for a company from making any confer withing for that company Through run finance reform, a committed attempt is needed to acquire large money out of political relations Reregulation and inadvertence of energy trading and distribution a-?We must penalize corporate irresponsibleness: More attempt and diligence is needed in tracking and exposing corporate irresponsibleness and authorities must beef up the current slap-on-the-wrist penalties. At a start, this includes a continued thorough probe of the Enron/Andersen by Congress, the SEC, and the Justice Department, with the public non accepting a watered down version from the authorities. a-?Workers should hold more engagement and power in direction determinations, particularly when pension financess are involved. If this had been in topographic point, Enron perchance would n't hold collapsed, and the employees surely could hold salvaged some of their nest eggs. Losing one ‘s full pension fund is good evidences for demanding employee determination doing power to forestall it in the hereafter. a-?We demand to fight against trade understandings – demand to go on to construct a strong, widespread battle against these trade understandings such as the GATS, and expose them for what they truly are: mechanisms for development of the universe ‘s people, land, resources, and public services. The authorization of these understandings is to let for the Enron ‘s of the universe unrestricted entree to privatise which will probably merely take to more Enron ‘s on a planetary graduated table. Without this battle, local and public services will go on to be lost.

Biological Oxygen Transport Essay Example | Topics and Well Written Essays - 1500 words - 1

Biological Oxygen Transport - Essay Example The chemical reactions thus require enzymes to speed up their reaction. Most of the enzymes require metallic entities to help them function to their full capacity. Metallic ions like Zinc and Magnesium provide biological enzymes with good acid capability. Thus, the enzymes that are used for acid base reactions use magnesium and zinc at their active centers. In addition, inorganic compounds like sodium and potassium are required by living organism to create a potential difference across cell membrane. Unequal distribution of sodium and potassium ions across cell membrane help initiate an action potential. Hemoglobin is an iron containing oxygen transport metalloprotein that is found in the red blood cells of vertebras (Anthea, Human Biology And Health). Its structure exhibits characteristics of both quaternary and tertiary structures of protein (Kessel, 122 Print). Most amino acids present in the hemoglobin are alpha helices and are joined together by non-helical structures. Hydrogen bonds present in the helical structure stabilize the helical units and give hemoglobin molecule its specific shape (Hemoglobin Tutorial, University of Massachusetts Amherst) The hemoglobin molecule has a protein part globin to which a small iron containing group heme. The heme consists of a charged iron ion that is contained in a heterocyclic ring. This heterocyclic ring is known as porphyrin and it consists of four pyrrole molecules linked together with iron bound in the center (Hemoglobin-School of Chemistry, Bristol University, ). The iron ion is the oxygen-binding site of hemoglobin. The iron ion coo rdinates with four molecules of nitrogen. The iron ion is strongly bound to the protein via imidazole ring of the F8 histidine residue below porphyrin ring. A sixth position bind oxygen reversibly by coordinate bond to complete the octahedral group of six ligands (Wiki Premed,

Among all of the political leaders studied in class who do you think Essay

Among all of the political leaders studied in class who do you think represent the true characteristics of a good leadership and why do you think the rest of t - Essay Example A leader should have a clear vision in his mind about where he is standing right now and how far he has to go to pursue his dreams. He must have the quality to translate his vision into solid form. Without having a clear picture in his mind one cannot achieve the desired goal. Only vision is not sufficient to get the job done. The leader should form a team of experts who will deliver. The erstwhile chairman of General Electric Company has very rightly pointed out that "Good leaders create a vision, articulate the vision, passionately own the vision and relentlessly drive it to completion." The leader should be disciplined, hard working and has the burning desire to pursue his dreams. Action can be termed as the focal point of a leader. A good leader always puts in efforts in pursuance of his vision and influences others to do with the same zeal and enthusiasm. A true leadership gives the credit where the credit is due. He takes the ownership of good or bad actions. He cannot be absolved himself from any failure. As a team leader, he passes on the bucket of fruits of success to his team mates and takes the blame of any of his follies. He treats himself at par with other fellow citizens. He believes in that only good deeds can make them popular amongst the people. In this respect, we may quote here the name of Asian Leader, Mahatma Gandhi. He should be good listener as far as the ideas of others are concerned. He has every right to accept the ideas or reject it but with cogent reasons. The openness policy surely opens the doors of mutual trust and respect between the leaders and the followers. Â   A good leader should be clear in his statement in order to avoid any misunderstanding. He should be firm in achieving the desired results. According to survey conducted by the Americans Psychological Association, the most common weaknesses found in the

Budgeting Operational Plans ( Individual Project ) Research Paper

Budgeting Operational Plans ( Individual Project ) - Research Paper Example This enables the managers of a company to report to the shareholders how their investments have been maximized over a period of some time. Different companies use different approaches to recording and reporting their financial details (McConnell, 2001). Both manual methods and computer assisted technologies are being used to facilitate proper recording of financial details of companies. With the rapid developments in technology, software applications have been developed to assist companies manage their financial record effectively. As a result, more companies are using computer aided financial reporting so as to give more authentic and reliable financial reports. Financial statements have to be prepared in accordance with set standards and reported timely to users. Financial reporting systems help companies achieve their financial objectives through accurate recording and timely reporting of financial reports (Siegel & Shim, 2006). A financial reporting system refers to all the proce dures and processes that a company employs in order to ensure financial accountability. These include the polices and measures put in place to ensure proper recording, verification of financial transactions as well as timely reporting. ... The financial reporting database helps the company prepare its financial statements such as the balance sheet, income statements, and cash flow statements periodically. This can be done either on a monthly basis, quarterly or annually. The budgeting database enables a company to access past financial information and helps the managers calculate financial estimates for the next accounting period. The budgeting database is well structured with expense thresh holds and cost limits that managers wish to set for the company (McConnell, 2001). A general ledger contains different accounts where information relating to financial transactions is recorded by the accountants or bookkeepers. Activity Based Budget The activity-based budgeting is a new and emerging trend in budgeting that seeks to give companies a new approach to manage their budgets. Activity-based budgeting allows company executives to present their budget based on the actual costs of the company’s products as opposed to the traditional budgeting methods, which require the budget to include various factors, which affect costs such as training and compensation (Mancino, 2007). In Activity Based Budgeting (ABB), only those business activities that incur costs are taken into consideration when preparing budgets. These activities are then aligned to specific objectives and goals, and thereafter, the costs that will be required to meet these business activities are used to draft the budget. The traditional method of budgeting only allowed company executives to adjust the budgets for previous financial periods so that they meet the new objectives for the next financial

Leadership and motivation in Virgin Media Essay Example | Topics and Well Written Essays - 500 words

Leadership and motivation in Virgin Media - Essay Example Motivation helps increase productivity. Two motivational theories are Herzberg two factor theory and Maslow’s hierarchy of needs. Herzberg’s two factor theory is a motivational theory that identifies job context as the source of job dissatisfaction and job content as the source of satisfaction (Schermernhorn, Hunt, Osborn, 2003). The theory is divided in motivator factors and hygiene factors. Hygiene factors are sources of job dissatisfaction. Hygiene factors in job content that affect dissatisfaction include: Motivator factors in job context that affect job satisfaction are achievement, recognition, responsibility, advancement, and growth. This theory is popular due to its simplicity and direct linkage to behavior of the employees. The theory also has its critics. â€Å"Some say its methodology does not address the notion that when things are going well people tend to look at the things they enjoy about their job† (Mindtools, 2014). A content theory of motivation develop by Abraham Maslow in 1943 is Maslow’s hierarchy of needs (Cherry, 2014). The theory is composed a pyramid of five needs that can be categorized as higher order or lower order needs. The five needs in ascending order are physiological, safety, social, esteem, and self-actualization. An illustration of Maslow’s hierarchy of needs is shown below. The physiological need include most basic needs such as food and water. Safety needs are security, protection, and stability. Social needs are associated with love and affection. Some esteem needs are respect, recognition, prestige, and competence. Self actualization needs deal with fulfillment and growth. This motivation methodology is fairly easy to implement which has made the theory popular in the business world. It is in the best interest of Virgin Media to motivate its staff because doing so will increase the performance of the business. Virgin Media is the UK’s first provider of all

Marketing mix elements of Starbuck and British airways Essay

Marketing mix elements of Starbuck and British airways - Essay Example The British Airways which is located London, UK provides transport services as their commodity of trade across the globe. The pricing of their services provides the customer with a choice to get what they can afford. This therefore enables them earn profits and beat competition in the market. The prices of British Airways also promote their business. This is backed up with promotional offers during Christmas. They have also expanded their persuasive communication to customers to enable them proof the existence. This airline also has an e-business which has then enabled them to access a very wide market all over the world.According to Ambler (2004), comparing Starbucks and British Airways businesses, one of their differences is that Starbucks is a product business while the British Airways is a services business. The pricing of the two businesses also differ. British Airways offers low prices for their services while Starbucks prices are relatively higher than those of their competito rs. The process of service provision used by the British Airways is that of direct access to the customers while Starbucks Corporation uses other business intermediaries to run their businesses in other countries that their coffee stores are located. Starbucks target market was university students while British market target is people from all over the world.McDonald and Keegan (2002) explain that Starbucks offers Wi-Fi to their customers while British Airways use their pricing and other online services to promote their business.

Summaries of two articles Essay Example | Topics and Well Written Essays - 250 words

Summaries of two articles - Essay Example The major influence on student learning and academic achievement are the children’s exposure to the quality of schools and teachers. A test based on the production function models was carried out on the quality of teachers and schools to explain their variance to a large extent on academic achievement rather than characteristics such as age, socioeconomic status and sex over which schools have little or no control over. As a result of the tests, governments have a responsibility to invest in quality learning levels by identifying the goods and services such as library resources, audiovisual equipment, different contacts and homework required and investing in them. Government resources on quality learning are weak and schools have control, but characters that the schools have little control such as preschool measures and out-of-school measures are the major effects on quality learning by schools(Little & Andy 168). Students from high income countries such as US practice preschool measures not influenced by the government or school control compared to low income countries which spend a lot of money on similar academic learning. Academic learning is of quality when it influences social achievement and students are not controlled by schools given their characteristics. The second article is on the importance of teaching as a career to first time tutors. It is necessary for any individual with an inspiration to become a teacher or enhance his or her teaching career to make an informed decision base. First time teaching requires proper understanding of the subject matter and the ability to recognize the learning needs of the students and, therefore, be able to engage them mutually according to their different learning capabilities in order to provide solutions for their success attainment and education progression. However, teaching poses numerous challenges for the first time teachers and, therefore, first time tutors should possess critical

CRITIQUE the ASSUMPTIONS of MAINSTREAM THEORY Essay

CRITIQUE the ASSUMPTIONS of MAINSTREAM THEORY - Essay Example The market also experiences power centers, such as in monopolies, oligopolies, and government regulations, for price determination. Mobility of factors of production and high levels of awareness also identify imperfect market, contrary to the theory’s assumption. Sellers are for example free to move into and out of a market based on presumed profitability levels. The assumption that consumers are consistent in their preferences is also not valid. Existence of sales promotion strategies such as advertisement continues because of their success in influencing consumers’ preferences towards marketed products. Consumers’ preference also depends on environmental factors such as peer influence, weather conditions, and religious and political ideologies and is therefore a variable in individual consumers subject to environmental changes. The theory’s assumption of homogeneity of factors of production is an inaccurate assumption because the factors of production can be classified based on their distinct characteristics. Land, for example, has distinct features from labor and capital to dispute the homogeneity assumption. Each of the factors of production further lacks homogeneity within it and has sub classes with distinct

William McKinley Essay Example for Free

William McKinley Essay Born on January 29, 1843, William McKinley would later in life grow up to be a very important factor and figure in America’s History. He was born in Niles, Ohio and grew up in Poland, Ohio where him and his family made their life. He was the seventh of eight kids living life like most young boys. He was raised by his father and mother, who instilled in him strong work ethics, respect, honesty, and courtesy and taught him to value prayer. One thing that McKinley valued highly was his education. He attended a school run by Methodist in Poland and upon graduating he went to Alleghany College in Meadville, PA. were he only attended for one term due to financial problems and illness. At the age of 18 when the Civil War started, William joined the Army and enlisted with the Twenty-third Ohio Volunteer Infantry. William was constantly proving himself in this battle. He began to quickly make his way up the ranks. He commissioned to Second Lieutenant and served under Colonel Rutherford B. Hayes and his staff. Throughout his military career, Hayes became William’s mentor. After serving four years William left the Army as a brevet major. After a career in the Army, McKinley went back to Ohio to start his future in politics and law. He finished law school at Albany Law and passed his bar in 1867. Soon after he started his own legal practice in Canton. In 1869, he met Ida Saxton and two years later they would be married and have two daughters. The same year he met his wife was the same year he ran in his first election. It was for county prosecutor and he won. As things started looking up for McKinley, he began to put more focus into his politics rather than his law career. Then in 1876 he ran for Congress and won that election as well. While in Congress he became chair of the House Ways and Means Committee, here he drafted and steered the passage of the McKinley Tariff of 1890. This increased consumer prices and angered the voters, causing McKinley to be rejected and lose the race in 1890. After that he went back to Ohio and ran for governor in 1891, were he won by slight margin. While serving as governor he wanted to lessen and control disagreements between management and labor. With this in mind he developed a system of arbitration that would help settle labor disagreements. With all the negatives that were going on with the economy, McKinley proved he was skilled in his political career. Many even felt his pain and had sympathy for him when his finances suffered during the economic depression of 1893. Many of the voters began to support him again and elected him as governor one more time in 1894. Gaining much popularity and with much experience under his belt it was time for Governor McKinley to run for President. In the Republican presidential nominating convention in 1896, McKinley came out strong as a front-runner. He was very committed to protectionism as a solution to help unemployment and was highly backed by the Republican party and was put on the ballot the first time around. This Republican platform supported protective tariffs. McKinley and the Republicans wanted to restore prosperity and guarantee social order and morality. The Republicans also supported the acquisition of Hawaii, building a canal across Central America, and expanding the Navy, they also supported equal pay for equal work for women, and restricting illiterate immigrants into our lands. McKinley campaigned from his own front porch right in Canton. McKinley campaigned on economic issues which put him ahead of his opposition eventually leading him to win the election by 600,000 votes, this was the largest electoral sweep there had been in twenty-five years. His voters were made up of farmers, urban residents, industrial workers and reformists. From this point until 1932 Republican Party ran the nation. While in office McKinley gain much popularity due to his victories as commander-in-chief of the Spanish American War. He also brought the nation back to economic prosperity. Due to his gaining popularity, McKinley was nominated again in 1900, as the Republican candidate and his vice president would be Theodore Roosevelt. They would campaign for a second time against the Democratic nominee William Jennings Bryan. There were two major issues that McKinley dealt with as President: tariff and bimetallism (this had to do with the money system). He made an agreement that silver and gold would be acceptable backing for big European currencies in countries such as England, France, Russia and Italy. This plan failed so McKinley wanted gold based currency and in 1900, he signed and passed the Gold Standard Act, which would place U. S. money on a gold standard, so it was fully backed by gold and each ounce was worth $20. 67. Another affair McKinley dealt with was tariff. He wanted to increase the tariff to reduce internal taxes and encourage expansion of industry and employment. He also dealt with race issues, labor issues at home. Over seas he dealt with the trying to expand overseas, the Spanish-American War, Open Door Trade Policy in China and the Boxer Rebellion. On September 6, 1901, while greeting the public, McKinley was shot in the chest by Leon F. Czolgosz who was from Detroit and an unemployed mill worker. He was rushed to the hospital and was said to be in recovery but Gangrene set in and he died on September 14, 1901.

Hong Kong Special Administrative Region and Positivism

Hong Kong Special Administrative Region and Positivism Critical Essay on Positivism with Special Reference to the  Hong Kong Special Administrative Region[S1] Introduction The[S2] word ‘positive’, as used in jurisprudence, is derived from the Latin word positum, meaning â€Å"having been laid down†. Its foundation consists in the pedigree thesis, separability thesis and the discretion thesis[S3]. The positive law school has its main pillars, such as Jeremy Bentham, John Austin, H.L.A Hart, Hans Kelson. This essay will study their views with reference to the Hong Kong Special Administrative Region (HKSAR[S4]). 1. The Pedigree Thesis Every society has some form of social order, some way of marking and encouraging approved behaviour, deterring disapproved behaviour, and resolving disputes. The pedigree thesis asserts that legal validity is a function of certain social facts[S5]. 1.1 Bentham and Austin: According to Bentham and Austin[1][S6], law is a phenomenon of societies with a sovereign;: a determinate person or group who have supreme and absolute de facto power. The laws in that society are a subset of the sovereigns commands: general orders that apply to classes of actions and people and that are backed up by threat of force or â€Å"sanction[S7].†. This imperatival theory is positivist, for it identifies the existence of legal systems with patterns of command and obedience that can be ascertained without considering whether the sovereign has a moral right to rule or whether his commands are meritorious. Imperatival theory has two other distinctive features, monism and reductivism. The mMonism: the theory represents all laws as having a single form, imposing obligations on their subjects, though not on the sovereign himself. The Reductivism: the theory on the other hand maintains that the normative language used in describing and stating the law talk of authority, rights, obligations, and so on can all be analyszed[S8] without remainder in non-normative terms, ultimately as concatenations of statements about power and obedience[S9]. Imperatival theory does not accord with the complexities of the present time:. fFor example, in Hong Kong (HK), according to the Basic Law Article 1,[2][S10], HKSAR is an inalienable part of the Peoples Republic of China (PRC). Under the system of ‘One Country, Two System’, sovereignty of Hong Kong Special Administrative Region (HKSAR) belongs to PRC. PRC delegates power (executive, legislative and final adjudication power) to HK through Basic Law (‘commands’). The Basic Law has the feature of being reductivist, as it is concatenations[S11] of statements about power and obedience. Basic Law Article 22 states that Basic Law is not only binding on HK, but also binding on PRC’s institutions (sovereign),[3], therefore it does not haves the feature of monistic[S12]. In addition, the law is not backed up by threat of force or â€Å"sanction† from PRC. HK citizens agree with the Basic Law because they realise[S13] that the law provides various advanta ges to them all, other than by fear. 1.2 Hans Kelsen: Hans Kelsen, as a positivist, presents a normative approach and is concerned with what the law was and not what it ought to be, and sought a science of law free from metaphysical elements (hence a pure theory). In addition, Kelsen retains the imperativalists monism but abandons their reductivism[S14]. On Kelsen’s view, law is characteriszed by a basic form and basic norm. The form of every law is that of a conditional order, directed at the courts, to apply sanctions if a certain behaviour (the â€Å"delict†) is performed. On this view, law is an indirect system of guidance;: it does not tell subjects what to do,; it tells officials what to do to its subjects under certain conditions. In HK, if Cap 210 Theft Ordinance s24 creates an offence of handling stolen goods which has penalties attached to it and the defendant handles stolen goods then the judge ought to apply the appropriate penalty[S15]. For Kelsen, as opposed to Austin, this is not just a case of the official being under a duty, but also having power or discretion in such situation. What we ordinarily regard as the legal duty not to handling stolen goods is for Kelsen merely a logical correlate of the primary norm which stipulates a sanction for handling stolen[S16] goods [4]. For the imperativalists, the unity of a legal system consists in the fact that all its laws are commanded by one sovereign. According to Kelsen[S17], it consists in the fact that they are all links in one chain of authority. For example, a by-law is legally valid because it is created by a corporation lawfully exercising the powers conferred on it by the legislature, which confers those powers in a manner provided by the constitution, which was[S18] itself created in a way provided by an earlier constitution. The very first constitution’s authority, says Kelsen, is â€Å"presupposed.†. Kelsen’s will view is that an HK Ordinance is legally valid because the Basic Law confers members of the Legislative Council[5] and the HK Government[6] the power to propose new legislation,, in the form of bills, which are considered by the Legislative Council for enactment.[7]. The Basic Law confers those powers in a manner provided by the Chinese Constitution Article 31,[8], whi ch was itself created in a way provided by an earlier constitution, Organic Law.[9][S19]. However[S20], it is not easy to identify the basic norm in HK society as Kelsen’s idea of the nature of the basic norm is unclear. Since basic norm does not have a specific content, and since it is primarily presupposed, its role in the validation of the other norms in the hierarchy can be fraught with obscurities. 1.3 H.L.A. Hart If law cannot ultimately be grounded in force, or in law[S21], or in a presupposed norm;, on what does its authority rest? H.L.A. Hart comes up with an answer for the above question,question[S22]; he resembles Kelsens emphasis on the normative foundations of legal systems, but rejects Kelsens view of authority in favour of an empirical one[10]. For Hart, the authority of law is social. The ultimate criterion of validity in a legal system is a social rule that exists only because it is actually practiced. Hart makes use of two types of rule – primary and secondary[S23]. Primary rules are those of obligation, which state what must or must not be done;. tThese are duty-imposing rules. Secondary rules are those of recognition, change and adjudication;. tThey are power-conferring rules designed to supplement the primary rules. The secondary rules affect the operation of the primary rules. People obey the primary rules under the legal system and the administrators of the system woul d also have to accept the rules of change, adjudication and recognition. It is an important feature of Harts account that the rule of recognition is an official custom, and not a standard necessarily shared by the broader community. If the imperativalists picture of the political system was pyramidal power, Harts is more like Webers[S24] rational bureaucracy. In HK, by looking at the legislation, we can identify many ordinances as primary rules. Examples are to be found from Cap 200 Crimes Ordinance and Cap 210 Theft Ordinance, etc. Hart[S25] tells us that these primary rules are needed concerning the free use of violence, theft and deception to which citizens are tempted but which they must, in general, repress if they are to coexist in close proximity to each other. The rule of recognition, classified as a secondary rule, is the ultimate rule which determines the existence and validity of other rules in a legal system[S26]. The rule of recognition resolves the problem of uncertainty as to the legality and validity of rules. HK’s rule of recognition can be found in the General Principles Chapter One of the Basic Law. For example, in the chapter, Article 2 of the Basic Law mentions that the National Peoples Congress (NPC) authoriszes the HKSAR to enjoy legislative power. Article 2 states that HKSAR shall safeguard the rights and freedoms of HK people. Article 8 states The laws previously in force in HK shall be maintained[S27]. Article 11 states that legislative and judicial systems, and the relevant policies, shall be based on the provisions of the Basic Law. No law enacted by the legislature of the HKSAR shall contravene the Law. Another type of secondary rules, the rules of change, enables changes to be made in the legal obligations which people may have under the duty-imposing primary rules of a legal system. There are two types of the rules of change: Private rules of change: these rules enable changes to be made in the legal relationships between private persons, for example, the rules of contract law and Cap 26 Sale of Goods Ordinance. Such rules confer power rather than imposing duties on HK residents in their private capacity. Public rules of change: these rules give public legislative officials the power to change the primary and other rules of a legal system. In HK, the main part of this rule lies at Article 73 of the Basic Law where it states that the Legislative Council has the power to amend laws in accordance with the provisions of the Basic Law and legal procedures[S28]. The last type of secondary rules, the rules of adjudication confer power on judicial officials to carry out the process of adjudication where a law has been breached or a dispute has risen. In HK, the rules of adjudication can be found in Article 2 of the Basic Law which states that the NPC authoriszes the HKSAR to enjoy independent judicial power, including that of final adjudication. In addition, Article 84 of the Basic Law confers the courts to adjudicate cases[S29]. 2. The Separability Thesis Positivists insist on the importance of the separation of law from morality. This thesis comprising the foundation of legal positivism is the separability thesis. This abstract formulation can be interpreted in a number of ways:. tThe most common view is that the separability thesis is interpreted as making only an object-level claim about the existence conditions for legal validity[S30]. As H.L.A[S31]. Hart describes it, the separability thesis is no more than the simple contention that it is in no sense a necessary truth that laws reproduce or satisfy certain demands of morality, though in fact they have often done so.[11]. According to Kelsen’s Pure theory of Law[S32], all elements impure or extraneous to law had to be split off, to leave a remnant of material which is essentially legal. Accordingly, all natural law, moral, religious, social, and other accretions that are not strictly law had to be eliminated. More recently, Klaus Faber[12][S33] interprets it as making a meta-level claim that the definition of law must be entirely free of moral notions. This interpretation implies that any reference to moral considerations in defining the related notions of law, legal validity, and legal system is inconsistent with the separability thesis. Based on these views, we can come to a conclusion that the object-level interpretation of the separability thesis denies that there are moral constraints on legal validity;, it implies the existence of a possible legal system in which there are no moral constraints on legal validity. In HK, it is beyond doubt that moral considerations bear on legal validity:. Ffor example, in the discussion of Prevention of Cruelty to Animals (Amendment) Bill 2006 at the Bills Committee and the judicial review on the age of sexual consent for homosexuals, moral played an important role on legal validity. 3. The Discretion Thesis Discretion thesis is the view that judges make new law in deciding cases not falling clearly under a legal rule. A judge cannot decide a case that does not fall clearly under a valid rule by interpreting or applying the law; he/she must decide the case by creating or promulgating a law that did not exist prior to the adjudication.[13][S34] The discretion thesis does not belong to positivisms theoretical core, but many positivists regard the discretion thesis as a contingent claim that is true of some, but not all, possible legal systems. For example, Hart[S35] believes that there will inevitably arise cases that do not fall clearly under a rule, but concedes a rule of recognition could deny judges discretion to make law in such cases by requiring judges to disclaim jurisdiction or to refer the points not regulated by the existing law to the legislature to decide[14]. In HK, an example can be found in the case of HKSAR v Ng Kung Siu Others[15] (decided on 15 December 1999) (Ng Kung Siu). In this case, the Court of Final Appeal (CFA) has to decide whether s7 of the National Flag Ordinance and s7 of the Regional Flag Ordinance which criminalise the desecration of the national flag and the regional flag are inconsistent with the guarantee of the freedom of expression (Article 19 of the International Covenant on Civil and Political Rights (ICCPR) and Article 39 of the Basic Law). The court finally decided that Freedom of expression’ is not absolute and subject to certain restrictions: (a) respect of the rights or reputation of others; (b) the protection of national security or of public order (ordre public), or of public health or morals. Further, it created or promulgated a law by stating that it is common ground that the burden [of proof] rests on the Government to justify any restriction[S36]. 4. Conclusion From the above discussion, we can see that Positivism’s Imperatival theory cannot explain why HK citizens agree with the Basic Law. In addition, it is not possible to identify the basic norm in HK society as Kelsen’s idea of the nature of the basic norm is unclear. Also, in HK, moral did play an important role on legal validity. Positivism theory can hardly fully explain the current HK legal system. Kelsen, Hans (1945). General Theory of Law and State, trans. A. Wedberg, repr. 1961. New York: Russell and Russell, p.61 Footnotes [1] Austin, John, The Province of Jurisprudence Determined (Cambridge: Cambridge University Press, 1995) p166. [2] Article 1 of the Basic Law: The Hong Kong Special Administrative Region is an inalienable part of the Peoples Republic of China. [3] Article 22 of the Basic Law states: No department of the Central People’s Government and no province, autonomous region, or municipality directly under the Central Govt. may interfere in the affairs which the HK SAR administers on its own in accordance with the Law. [4] Kelsen, Hans (1945). General Theory of Law and State, trans. A. Wedberg, repr. 1961. New York: Russell and Russell, p.61. [5] Article 74 of the Basic Law. [6] Article 62 of the Basic Law. [7] Article 73 of the Basic Law. [8] Chinese Constitution (CC) Article 31: CC will not apply to HK directly, except CC Art 31 from which HK Basic Law was derived. â€Å"the state may establish special admin regions when necessary. The systems to be instituted in special admin regions shall be prescribed by law enacted by the NPC in light of specific conditions. (therefore BL apply to HK, without any other explicit endorsement from NPC). Art 31 for HK, Macao and Taiwan. [9] Organic Law of the National Peoples Congress of the Peoples Republic of China was adopted by the Fifth Session of the Fifth National Peoples Congress on Dec 4, 1982 as Chinas Constitution. [10] Legal Positivism, First published Fri 3 Jan, 2003, Stanford Encyclopedia of Philosophy. [11] Hart, H.L.A., The Concept of Law, Second Edition (Oxford: Clarendon Press, 1994) pp. 181-82. [12] Faber, Klaus, Farewell to Legal Positivism: The Separation Thesis Unraveling, in George, Robert P., The Autonomy of Law: Essays on Legal Positivism (Oxford: Clarendon Press, 1996), 119-162. [13] Dworkin, Ronald M., Taking Rights Seriously (Cambridge: Harvard University Press, 1977), p.17. Ronald Dworkin describes this thesis as follows: â€Å"The set of these valid legal rules is exhaustive of the law, so that if someones case is not clearly covered by such a rule . . . then that case cannot be decided by applying the law. It must be decided by some official, like a judge, exercising his discretion, which means reaching beyond the law for some other sort of standard to guide him in manufacturing a fresh legal rule or supplementing an old one. [14] Hart, H.L.A., The Concept of Law, Second Edition (Oxford: Clarendon Press, 1994), p. 272. [15] Ng Kung-siu Anor v HKSAR [1999] 1 HKLRD 783, 2 HKC 10 (Court of Appeal) and HKSAR v Ng Kung-siu Anor [1999] 3 HKLRD 907, [2000] 1 HKC 117 (Court of Final Appeal). [S1]You must have a title, it acts as a focus for the first page. [S2]Indented paragraphs look better. [S3]You must cite your source for everything you say like this. The marker must have the option of checking facts. [S4]A longer introduction required, elaborate more on what positivism is and what you intend to argue for. [S5]OK, true enough, but you must cite your source. [S6]Good use of footnotes, excellent. See end for my notes on what to put in a footnote though. [S7]good [S8]Don’t use American spellings [S9]Good, but you need to cite a source. [S10]The footnote should always come after the punctuation. [S11]Consider re-writing, good to use words like this, but used in slightly the wrong context, perhaps sentence structure needs work. [S12]Again wrong word, probably monasticism. [S13]Good to use the English spelling here when you did not earlier. [S14]Cite your source. [S15]Are you intending to imply that this does not happen on occasion? [S16]Good. [S17]You must cite the reference. [S18]Looks untidy having two whiches like this in the same sentence. [S19]This paragraph contains good information, but the English needs cleaning up a little, it does not read well. [S20]Should not start a paragraph with however. [S21]â€Å"or in law† doesn’t make a lot of sense. [S22]Cite your source. [S23]Source. [S24]Cite weber [S25]Where? cite a reference. [S26]Good. [S27]If you are quoting, use quotation marks â€Å" â€Å", not ‘ ‘. [S28]Good [S29]Again, good. [S30]Good. [S31]No need to use his initials, Hart will suffice. [S32]Cite your source. [S33]Good, you cite your source here but not elsewhere!!! [S34]Good. [S35]Reference. [S36]Good.

All Fur :: essays research papers

All Fur is a 19th century German tale written by the Brothers Grimm. The tale deals with incest and how a young lady can escape an abusive father. When the King's wife dies it becomes imperative that he was to marry again. However, he would not settle on any woman unless she was as beautiful as his late wife was. Ironically, the only woman in the kingdom that possesses the beauty of his wife is his daughter, with whom he becomes obsessed. In the tale it is said that, "†¦In every respect she was like his dead wife†¦" suggesting the projection of an anima ideal. This leaves no room for the princess to be different from her mother (Jewett, 20). She is the bloodline of the wife and is just as beautiful. The King plans on having an incestuous relationship with her. This is not the sign of a good parent. This type of relationship is symbolic of the faults of parents in 19th century Germany. Not all parents knew how to act the right way and Brothers Grimm account of monstrous parents brought a social light to this. The King's daughter, obviously releasing the unnatural and cynical intentions of her father, refused to let him have his way. The princess makes a decision based on her moral values and determines on her own that her father is wrong. Interestingly here, the Brothers Grimm play on a common theme that Perrault used in the development of his heroes and heroines. All Fur gives her father three tasks that must be accomplished in order for her hand in marriage. The princess, not yet at her highest level of development, which is necessary to become a heroine, tries to out smart her father by giving him seemingly impossible tasks. The King somehow manages to come up with her gifts, but in her development into a heroine she realizes that the gifts actually will help her achieve her journey to the highest level of development (Jewett 20). In 19th century Germany it was considered a horrible act to disobey or try to deceive one's own parents. However, the Brothers Grimm, through their themes of monstrous parents and moral development, show that in some circumstances parents need to be disobeyed. The princess must now begin her "journey". She uses the gifts that he provided to help her get away from him.

Human Relationships-Frankenstein Essay -- Literary Analysis, Mary Shel

Mary Shelly’s Frankenstein is book about the importance of human relationships and treating everyone with dignity and respect. The main character of the book is Victor Frankenstein who is a very intelligent man with a desire to create life in another being. After he completes his creation, he is horrified to find that what he has created is a monster. The monster is the ugliest, most disgusting creature that he has ever seen. Victor being sickened by his creation allows the monster to run off and become all alone in the world. Throughout Frankenstein, Mary Shelley uses the theme of human relationships to illustrate the bond that man has with other beings and the need for love and affection. The importance of human relationships is shown throughout the book in many ways. Victor’s mother says to him, â€Å"I have a pretty present for my Victor—tomorrow he shall have it†(18).Victor is very excited that he has such a precious gift that will always be his. They become very close and refer to each other as cousins. However, there is a deeper a relationship between the two, and Victor vows to always protect and take of the girl whose name is Elizabeth. Mary Shelley uses this quote to explain how special Elizabeth is to Victor and that she is gift sent to him. Victor’s mother reinforces this again when she says to Victor and Elizabeth, â€Å"My children, my firmest hopes of future happiness were placed on the prospect of your union. This expectation will now be the consolation of your father. Elizabeth, my love, you must supply my place to my younger children. Alas! I regret that I am taken from you; and, happy and beloved as I have been, is it not hard to quit you all? But these are not thoughts befitting me; I will endeavour to resign... ...e seeking help and strength to take care of problems in their lives. Victor Frankenstein is a man with a loving and caring family. Family and friends are an important part of his life. He has his whole life in front of him, when creates his monster. He creates the monster in the likeness of man with same need of love and affection as man. Although, this is his creation, he lets the monster down and does not care for him. The monster begins to feel neglected and lonely and wants desperately to have a human relationship. The monster turns angry and revengeful because he is so sad and abandoned. He wants Victor to feel the way that he does, all alone. The monster succeeds and Victor ends up losing all the important in his life and his own life. In the end, the monster dies and the need for human relationship becomes the destruction for both the monster and Victor.

Justification of Hamlets Sanity in Shakespeares Hamlet Essays

Shakespeare's play "Hamlet" is about a complex protagonist, Hamlet, who faces adversity and is destined to murder the individual who killed his father. Hamlet is a character who although his actions and emotions may be one of an insane person, in the beginning of the book it is clear that Hamlet decides to fake madness in order for his plan to succeed in killing Claudius. Hamlet is sane because throughout the play he only acts crazy in front of certain people, to others he acts properly and displays proper prince like behavior who is able to cope with them without sounding crazy, and even after everything that has been going on in his life he is able to take revenge by killing his father's murderer. In the play Hamlet by William Shakespeare Hamlet is sane but acts insane to fulfill his destiny of getting vengeance on his father's murderer. Hamlet throughout the play seems insane but in reality it is only an act to achieve his goal of killing his father's murderer. Hamlet chooses to go mad so he has an advantage over his opponent and since he is the Prince of Denmark certain behavior is unacceptable, so by faking madness he is able to get away with inappropriate sayings and actions. We can see this when he talks to Claudius, Polonius, Ophelia and his mother. When Hamlet talks to Horatio in the first act he says how he is going to "feign madness" and that: " There are more things in heaven and earth, Horatio, Than are dreamt of in your philosophy...How strange or odd some'er i bear myself (As i perchance hereafter shall think meet To put an antic disposition on) That you, at such times seeing me, never shall, With arms encumbered thus, or this headshake, Or by pronouncing of some doubtful phrase...let us go in toget... ...sane because he is fully aware of his surroundings and before acting he always rationalizes everything. He fakes madness so he can say and do things that a mad man would do, but internally he is aware of what he is doing and we know he is not insane but he acts crazy in front of certain people. His way of thinking is like a normal individual's, if an individual was crazy they would not be thinking everything through and if someone were crazy they would definitely not have the capabilities of outsmarting someone, like how Hamlet outsmarted Claudius. All these reasons and much more are why Hamlet is not insane, he is as sane of an individual as any other, but unlike others he had to go through a lot of emotional pain and a sense of abandonment to reach a successful point in his life. Works Cited Shakespeare, William. New York: Washington Square, 2004. Print.

The Good Earth’s Relationship Between Wang Lung and O-Lan

The relationship between O-lan and Wang Lung is stabilized by O-lan’s hard work and resourcefulness, based largely upon a woman’s inferiority, and threatened by superficial tendencies. Their affiliation also ends romantically with the loss of love and is regretted, in the end, with sufficient sympathy. O-lan proves to be beneficial through means of outdoor labor. In the afternoon she took a hoe and a basket and these upon her shoulder she went to the main road leading into the city where mules and donkeys and horses carried burdens to and fro, and there she picked the droppings from the animals and carried it home and piled the manure in the dooryard for fertilizer for the fields† (Buck 29). O-lan also proves her helpfulness by performing household chores, to much of Wang Lung’s appreciation. â€Å"And she took their ragged clothes and with thread herself spun on a bamboo spindle from a wad of cotton she mended and contrived to cover the rents in their win ter clothes† (Buck 29).Although this is true, Wang Lung’s gratitude towards O-lan appears repressed as he constantly hides his feelings for her in the beginning. The protagonist immediately becomes mortified by his affection for O-lan. â€Å"And then he was ashamed of his own curiosity and of his interest in her† (Buck 30). Wang Lung subsequently attempts to dissuade these thoughts. O-lan’s aid and usefulness obviously weakens the tension between both spouses and creates a more mutual, stable life at home. Arguments are rarely heard amongst the lips of either husband or wife.This may be due to O-lan’s unusual quietness. â€Å"But she never talked, this woman, except for the brief necessities of life† (Buck 30). This silence almost utterly terminates all heated conversations. However, it also enhances her appearance as a slave and overall working image. â€Å"But in the day her clothes, her plain blue cotton coat and trousers, covered all tha t he knew, and she was like a faithful, speechless serving maid, who is only a serving maid and nothing more† (Buck 30). Women, in ancient cultures are, as shown in The Good Earth, thought to be of lesser value than that of men. She was, after all, only a woman† (Buck 30). On numerous occasions, O-lan is treated as if she is a piece of property obtained by her new husband. â€Å"It seemed that during these next months he did nothing except watch this woman of his† (Buck 28). Wang Lung acts this way due to the environment in which he grew from, where both elders and men reign, leaving women at the bottom of the totem pole. Wang Lung’s uncle once questioned, â€Å"Have you not heard it said that in the Sacred Edicts it is commanded that a man is never to correct an elder,† (Buck 66).As the novel progresses, Wang Lung’s thoughts of his wife’s exterior begin to surface as superficial tendencies emerge. He complains of her horrid hair and ro ugh features. â€Å"He saw for the first time that her hair was rough and brown and unoiled and that her face was large and flat coarse-skinned, and her features too large altogether and without any sort of beauty or light† (Buck 179-180). These cruel comments are the first slap in the face of O-lan, as Wang Lung’s manly instincts begin to kick in and he discovers beauty abroad.Lotus enters the story when Wang Lung gives into the temptation of lust. He buys her, despite the fact that he is a married man. Threatening the relationship between O-lan and Wang Lung, Lotus slowly tears the couple apart even more than they were before. Earlier in the novel, during the raid of an aristocrat’s home, O-lan finds many valuable gems within the walls. Once money becomes a necessity, Wang Lung asks for the gems in order to grant them to the House of Hwang in return for additional land.O-lan is allowed to keep only two of her choosing and she quickly decides on two pearls: And he was moved by something he did not understand and he pulled the jewels from his bosom and unwrapped them and handed them to her in silence, and she searched among the glittering colors, her hard brown hand turning over the stones delicately and lingeringly until she found the two smooth white pearls, and these she took, and tying up the others again, she gave them back to him. (Buck 157-158) These white spheres represent more than just the upcoming twins. They also symbolize Wang Lung’s love for O-lan, no matter how limited it may be.Once Wang Lung becomes completely entangled inside Lotus’s web of desire, he demands that O-lan give him the pearls at once so he could, in turn, award them to his concubine. This simple act may be construed as Wang Lung’s thievery of his affection for O-lan and Lotus’s gain in the matter. As O-lan begins to die, she utters a phrase that entirely reveals all of her inner thoughts. â€Å"Well I know I am ugly and cannot be loved—,† (Buck 277). These ideas show her lack in confidence that may have been even more destroyed with Wang Lung’s brutal behavior and harsh words.Wang Lung, however, felt guilt beyond measure and â€Å"wondered and grieved at himself most of all because what she said was true, and even when he took her hand, desiring truly that she feel his tenderness towards her, he was ashamed because he could feel no tenderness, no melting of the heart such as Lotus could win from him with a pout of her lips† (Buck 277). This not only serves as evidence of Wang Lung’s sympathy towards O-lan and his regret for everything that he induced. It also reiterates the fact that Wang Lung and O-lan’s relationship changed instantaneously as his feelings for Lotus blossomed.

Conflict in Organization

CONFLICT MANAGEMENT Conflict management refers on the way how we approach the other party in a conflict situation. There are main structural approaches such as emphasizing superordinate goals, reducing differentiation, improving communication and understanding, reducing task independence, increasing resources, and clarifying rules and procedures. Emphasizing Supeordinate Goals The first way to resolve the conflict is to seek and find the common goals. The emphasizing superordinate goals are common objectives held by conflicting parties that are more important than the department or individual goals on which the conflict is based.If the commitments to corporate wide goals increase, the employees will pay less attention to competing individual or departmental-level goals. So, it reduces their perceived conflict with co-workers. Besides that, they also can reduce the problem of incompatibility and differentiation by establishing a common frame of reference. For example, the most effecti ve executive teams frame their decision as superordinate goals that arise above each executive’s departmental or divisional goals. Reducing DifferentiationBesides that, another way for resolving conflict is to remove the sources of different values and beliefs that produce the conflict in the first place. When the employees think they have same backgrounds or experience with other workers, they will be more motivated to coordinate their activities and resolve the conflict. For example, move the employees to different jobs so that they come to depend on each others. Improving Communication and Understanding The third way to minimize the conflict involves by giving the conflict parties more opportunities to communicate and understand each other. By aving the good communication, the employees can understand and appreciate each other’s views and opinions. It relates to contact hypothesis which is the more meaningful interaction we have with someone, the less we rely on ste reotypes to understand that person. There are two warnings. First, apply communication or understanding after reducing differentiation. For example, when we interact with people who are quite different and have conflict with us, we tend to select information that reinforces that view. So, communication and understanding interventions are most effective when differentiation is sufficiently low.Second, people in collectivist and high power distance cultures are less comfortable with the practice of resolving differences through open communication. People in Confucian cultures prefer an avoidance conflict management style since it is consistent with face saving and harmony. Furthermore, direct communication is high-risk because it threatens the harmony easily. Reducing Interdependence Another way to minimize dysfunctional conflict may involve reducing the level of interdependence between the parties. It can occur by dividing the shared sources so that each party has exclusive use part of it in different times.Sequentially, interdependence task may be combined so that they can form a pooled or shared interdependence. Furthermore, buffers also can help to reduce the interdependence level among people. It includes resources such as more inventories could be added between people who perform sequential tasks. The organizations use human buffers as people who serve as intermediaries between interdependent people or work units that do not get along through direct interaction. Increasing Resources The dysfunctional conflict also can be reduced by increasing the amount of resource available.It also refers by duplicating the resources so that can minimize the conflict. Corporate decision makers might dismiss this solution quickly because of the costs involved. Nevertheless, these costs with the costs of dysfunctional conflict that arise out of resource scarcity must be compared carefully. Clarifying Rules and Procedures Conflicts that arise from unclear and ambiguous can b e resolved through establishing rules and procedures. This strategy has been applied by Armstrong World Industries, Inc. , when consultants and information system employees clashed while working together on development of a client-server network.Moreover, the rules establish the changes of interdependence. For example, employee’s work hours or a supplier’s order fulfillment. RESOLVING CONFLICT THROUGH NEGOTIATION Negotiation is the process whereby two or more conflicting parties attempt to resolve their divergent goals by redefining the terms of their interdependence. In the other meaning, people negotiate when discussion can meet satisfaction and resolution in their exchange of goods and services. For example, the employees negotiate with supervisors over next month’s work assignment. Bargaining Zone Model of NegotiationsBargaining zone means the process of negotiation moves each party along a continuum an area of potential overlap. It can be applied to situati ons in which both sides potentially gain from the negotiations. There are three main points of this model. First, the initial-offer point is the team’s opening offer to the other party. Second, the target point is the team’s realistic goal or expectation for a final agreement. Third, the resistance point is the point beyond which the team will not make further concessions. Negotiation begins with describing the initial-offer point for each item on the plan.Besides that, in the win-lose situations, neither the target nor resistance point is revealed to the other party. If the parties have a win-win situation, the objective is to find a creative solution that keeps both parties close to their initial-offer points. Situational Influences on Negotiations Both the situation and the behaviors of negotiators are the effectiveness of negotiating. There are four important situational factors such as location, physical setting, time and audience. First, location is easier to neg otiate as we are common with the negotiating environment and are able to maintain comfortable routines.It is also no need to depend on others for resources during negotiation. Second, the physical distance between the parties and formality of the setting can influence their orientation with each other. Sometimes, people who sit face-to-face tend to develop a win-lose orientation toward the situation. Third, the longer time in negotiations can lead to stronger commitment in reaching a solution. For example, the more time people put in negotiation, the stronger the tendency to make unwarranted concessions. So that, the negotiation is going to be succeed.Time deadlines are a liability in negotiation which it is useful to motivate people to complete it. Lastly, most negotiators have the audiences. They can be anyone that is interested in the negotiation outcomes. For examples are executives, other team members, or general public. The negotiators tend to be more competitive and less will ing to make concessions when the audience has the direct observation towards the proceedings. Negotiator Skills The negotiator skills are important in resolving conflict arise. Four of most important skills are setting goals, gathering information, communicating effectively, and making concessions.Firstly, negotiators should prepare for the negotiation and set goals. They also should think carefully through their initial-offer, target and resistance points. If the negotiation fails, they need to consider alternative strategies. Besides that, they need to check their underlying assumptions as well as goods and values. Secondly, in order to gather the information, negotiators should spend more time listening to the other party and asking the details. Thirdly, effective negotiators communicate in a way to maintain strong relationships between parties. They also will avoid irritating statements.Furthermore, they are masters of persuasion so that it is accepted by others. Lastly, making concessions are important because they enable the parties to move toward the area of potential agreement, symbolize each party’s motivation to bargain in good faith, and tell others about the importance of negotiating items. THIRD-PARTY CONFLICT RESOLUTION Third-party conflict resolution is any attempt by a relatively neutral person to help the parties resolve their differences. Procedural fairness is important when the third party makes a binding decision to resolve the dispute.There are three types of third-party resolution activities, which are arbitration, inquisition, and mediation. Arbitration is the final stage of grievances by unionized employees, and is becoming more common in nonunion conflicts. The arbitrators have high control over the final decision but low control over process. They will decide the outcome of a dispute between two parties. Besides that, executives engage in this strategy by following previous agreed-on-rules of due process, making a binding deci sion and listening to arguments from the dispute parties.Inquisitors control all discussion about the conflict and choose the form of conflict resolution. They have high decision control and high process control. They generally the conflict resolution process and enforce a resolution that they perceive to be the most appropriate. There are important ways to limit the collaborative problem solving process. First, they generally operate on assumptions of the problem and the relevant information in solving the problem. Second, they limit the information that they gather to the information they specifically request from disputants. As a result, inquisitors make quick decisions to resolve conflicts.Mediators have high control over the intervention process. Their main purpose is to manage the process and context of interaction between the dispute parties. However, the parties make the final decision about how to resolve their differences. So, mediators have little or no control over the c onflict resolution decision. There are several things mediators need to do to increase the likelihood of successful mediation such as suggest alternatives, prepare to invest time and effort, and insist on a detailed action plan. On the other hand, the mediation is hard work and time consuming. CHOOSING THE BEST THIRD-PARTY INTERVENTION STRATEGYResearch suggests that people in positions of authority usually adopt an inquisitional approach which is they dominate the intervention process as making a binding decision. The inquisition approach is preferred by manager because it is consistent with the decision-oriented nature of managerial jobs, tends to resolve the disputes efficiently, and gives them control over the conflict process and outcome. Conversely, this approach is usually least effective in organizational settings. The problem is leaders who take in an inquisitional role be likely to collect the limited information about the problem.Besides that, the employees often view inqu isitional procedures and outcomes as unfair. The most appropriate of third-party resolution in organizations depends on the situation such as the type of disputes, the culture values and the relationship between the managers and employees. However in general speaking, the mediation approach is the best because it gives employees more responsibility for resolving their own disputes. It also offers the highest level of employee satisfaction with the conflict process and outcome. References http://www. wright. edu/~scott. williams/LeaderLetter/mediation. htm