Static or Dynamic Checkpoint

* As a network administrator for a company, you want to configure an IP route between two routers. Of static and dynamic routing, which is more appropriate? A router is a device that connects two LANs or WANs together. It has the ability to determine the best known route to send packets to a destination. The factors used to determine the best known route include not only the fastest route, but the most efficient.By using routing tables the router can determine the route with the least amount of congestion or traffic, as well as the safest route for the packets to travel. It doesn’t always mean it’s the fastest route to the destination, but it is the most efficient. A router can be manually programmed by the network administrator to provide the most efficient route. This is called static routing. In this type of routing, the network administrator manually determines the best mappings to each destination before the routing begins.This is a finite form of routing. Once the network administrator programs the routers, there is no change in the routing pattern unless it is reprogrammed to a new route. If the pattern runs through a congested network area, a router in the pattern is not functioning properly, or part of the network is down, the router continues to try the same pattern because that is all it is programmed to remember. For today’s larger networks, an unforgiving router mapping is not necessarily the most efficient way of passing information within the network.When routing dynamically, software is used to program a router to be forgiving. This means that the router remembers the best or most efficient path, but if that path is not working, it will try the next most efficient route. The router is able to do this by remembering the routing tables most often used in the network. A dynamic router needs very little maintenance because it automatically remembers the network routing protocols as they are used. If a path is congested or a oute r is down, it uses the remembered routing tables to find the next best route without any manual programming. This type of dynamic routing is fault tolerant. It not only senses the usual route is not efficient, but it shares the information among routers on the internetwork so that all routers are aware of the new route. In the above scenario, as a network administrator in the present time, I would choose to configure an IP route between two routers dynamically.I believe it is more appropriate to route packets in the most efficient manner, and by routing dynamically this will happen automatically, and without any knowledge by the end user. The network administrator will only have to do the initial programming of the router, and the rest is done by the router itself. As a network administrator, not having to program each path a router will take, will free up time for other projects. In the given scenario, routing the network dynamically is the most appropriate choice.

Examine how Atwood presents Offred’s sense of self in “The Handmaid’s Tale”

Sense of self can be defined by the â€Å"roles, attributes, behaviours, and associations that we consider most important about our selves†. 1 Atwood wrote â€Å"The Handmaid's Tale† during the 80s; (1986 to be precise) an era of ‘power-dressing'. A key icon of the ‘power-dressing' was the wife of the American president, Nancy Reagan, who wore outfits with huge shoulder pads, making her look more masculine. Famous women like her encapsulated what the women of the time aspired to be: rich, beautiful, intelligent and powerful. In â€Å"The Handmaid's Tale†, Offred constantly refers back to her old life and the way she used to style herself in comparison to the way she looks now. She remembers, â€Å"Makeup†3 and â€Å"bathing suits and platform shoes†4, â€Å"sheer pantyhose against the skin†5, and â€Å"the smell of nail paint†6. All these things relate to the image that she once aspired to obtain, and this constant regressi on shows how she longs to return to her life before the regime, when she was secure in her identity. The air of desirability Atwood gives these things reflects how Offred desires them. However, this does not mean that Offred needs these things to regain her sense of self; Atwood simply uses them as symbols of Offred's true identity which she attributes to herself and her life before the regime. In contrast, Atwood uses negative language to describe the red dress Offred now wears. The phrases, â€Å"a nondescript woman in red†7 and, â€Å"the colour of blood, which defines us†8 hint at Offred's contempt towards her red dress. This shows how Offred recognises that her obligatory red dress is not a reflection of her personality (as clothing should be) but a barrier between her and the rest of the world; in this dress she is Offred, a Handmaid and nothing else. Even her name, â€Å"Offred† is evidence of the regime taking away her identity because it can be interpretated as, ‘Of-Fred' meaning that she is Fred's (the Commander's) possession. This concept supports Simone de Beauvoir's comments that, â€Å"she is defined and differentiated with reference to man and not with reference to her†9. In â€Å"The Handmaid's Tale† the name Offred does not tell the reader anything about Offred as a person, it only tells them that she is a Handmaid who belongs to the Commander, Fred, her actually identity is not referred to at all. Our names become a part of who we are and we are identified by them; after losing her name, Offred feels the need to remind herself of it, to ensure her true identity is not lost, â€Å"This name has an aura around it, like an amulet, some charm that's survived from an unimaginably distant past. 10 The words, â€Å"aura†, â€Å"amulet† and, â€Å"charm† create a semantic field of mystery and magic which reflects Offred's feelings towards her name; now that she is not allowed to use it, she views it as something to be in awe of, something she must â€Å"treasure† and, â€Å"dig up, one day†11. The word, â€Å"amulet† refers to something that protects you from danger; the danger for Offred would be to comple tely lose her sense of self so Offred refers to this name in order to connect with her ‘self' because she recognises that she is not actually part of this regime at all; she remembers her real name to separate herself from it. However, the importance of Offred's real name in the redevelopment of her sense of self is accurately demonstrated when she tells Nick, â€Å"I tell him my real name, and feel that therefore I am known. â€Å"12 Offred's real name is extremely personal to her, before she felt as if she was simply a Handmaid with no other identity but once she tells Nick her real name she feels as if she is telling him who she really is, apart from the regime. Atwood also uses the character of Nick as a literary tool to develop Offred's sense of self, through the development of her sexual identity. Nick becomes a recurring theme, representing masculinity; he is described as having forearms which are, â€Å"tanned but with a stipple of dark hairs†13, whereas Offred imagines that the Commander has a,†white, tufted raw body†14which makes him sound like the absolute opposite of Nick, undesirable and unattractive; and subconsciously Offred rejects him showing that she still has the power to chose who she falls in love with or feels emotion towards. Offred's emotions are unique to her and therefore define part of her identity; during the conception ceremony Offred's narrative includes very little emotion and her tone is detached,† One detaches oneself. One describes†. 15 By referring to ‘one' in general and not specifically to herself shows how Offred is using denial as a defence mechanism to avoid the shameful truth that she is actually having sex with the Commander; she even says, â€Å"what he is fucking is the lower part of my body†16. Atwood uses this detached tone to illustrate how Offred has become accustomed to how her body has been violated, but the expletive, â€Å"fucking† shows that she does not agree with it and is angry at this violation. She wants the reader to understand that throughout all this, Offred is trying to retain her sense of self and is still ‘herself' in her mind. In contrast, Offred's forbidden sexual relationship with Nick is a loving relationship which creates a parallel with the similar forbidden relationship she had with Luke, before the regime. Offred used to view herself as Luke's lover, then eventually his wife, these were roles that were important to her and roles that she attributed to her identity, â€Å"Can I be blamed for wanting a real body to put my arms around? Without it I too am disembodied. â€Å"17 The rhetorical question shows how confused and alone Offred feels and the word, â€Å"disembodied† highlights Offred's need to feel loved in a physical relationship because she defines herself through her interaction with others, but in the dystopian society in which she lives this social and emotional interaction has been removed. When Offred finally does sleep with Nick he becomes a substitute for Luke, â€Å"I went back to Nick. Time after time on my own, without Serena knowing†. 18 Atwood uses short sentences to give the reader a blunt and concise account of what happened; the fact that Offred slept with Nick is irrelevant in comparison to the implications it has. The small, insignificant rebellions Offred has executed throughout the novel come to a climax at this point in the story, where Offred shows that she is willing to sacrifice her life and social standing in an attempt to express her true self. The phrase, â€Å"on my own† draws attention to Offred's new found confidence and independence and the fact that Serena does not know about it symbolises her freedom from the regime. Atwood uses personal pronouns, â€Å"I tell, therefore, you are†, which enables Offred to personalise the listener/reader whom she is narrating to. Her references to the unidentified, â€Å"you† is ironic, because in a way she is talking to herself, about herself. She is becoming introspective and generates a sense of self pity through creating this other person. Atwood is trying to make the reader feel included in the novel; she is also giving Offred a way of coping with her loneliness and isolation. This notion supports Helene Cixous' belief that, â€Å"By writing her self, woman will return to the body which has been more than confiscated from her. â€Å"19 By telling her story Offred portraits a part of her personality and therefore, a part of her identity in her story, and because she cannot freely express her personality in the society in which she lives, she resorts to living in the memories of her nameless audience. Offred's storytelling also supports Mallik's opinion that Atwood includes, â€Å"basic victim positions†20 in her novel, because she tells her story to her ‘audience' in order to regain a part of her identity which she realises has been taken away from her; and as the novel progresses she becomes more willing to rebel to reclaim it. Atwood uses the narrative tone to reflect the emotional state of the narrator. At the beginning of the novel Offred is confused, â€Å"like a sleepwalker conceiving disjointed perceptions of its surroundings,†21 but by the end of the novel, â€Å"the narrative voice assumes a fully engaged emotional tone† which reflects Offred's emotional development, and mirrors how she is no longer a passive entity but an active woman who is willing to fight for what she wants.

Critique a Research Article Paper Example | Topics and Well Written Essays - 1250 words - 4

Critique a Article - Research Paper Example In addition, to make sure that victims take part more in physical exercises to progress their own health. The aim of this study is related to the importance of improving mobility of groups with MS. The author wants to make people with chronic body conditions to change their perceptions about physical activity, which is based on past studies that discouraged them from some activities. The author outlines some disadvantages of physical inactiveness. The researchers used direct and semi-structured interviews by means of open-ended questions in conjunction with prearranged ones. While the researchers did not spell out the type of research approach they used, all indicators show that the study was based upon a phenomenology model because it openly studies structures of insight as experienced by clients who responded. In this study, the people who were interviewed were patients who had just received medical intercession to stop their state of multiple sclerosis, with the most important int ention of the study being the adjustment of their insight to contribute more in physical activity. The author challenges the previous studies that discouraged physical activity among MS victims. The authors offered an equipped explanation to enable the person who reads to be aware of the subject matter being looked into in the research paper. The author draws information from the past publications for example basing their point of view on the outcome of the hypothetical novel physiotherapy intervention also called Blue prescription as a technique of advancing patient involvement in physical activity, the researchers supported their objectives with convincing and pertinent secondary sources numbering 38, pinched from just about the world. Many of the sources that they applied contained up to date information, but a petite number of them were in print more than ten years ago. On

Attachment Theory Essay Example | Topics and Well Written Essays - 500 words

Attachment Theory - Essay Example It is generally accepted that there are three main attachment styles in adults and children - secure, ambivalent and avoidant. (Bower 1997,a). A national survey of representative samples of 8,080 U.S. adults between 15 and 54 years of age (Bower, 1997, b) by Mickelson, Kessler and Davis, nearly all of the participants were found to conform to one of the three attachment groups. The survey concluded that attachment patterns are the central developmental factor responsible for subsequent personality and social development. While secure attachments, seen in about 59% of those surveyed, led to stable lasting relationships in later life, the 29 % displaying avoidance later developed fear or apathy towards emotional intimacy. Manipulative, distrustful behavior towards romantic partners was a feature of the remaining 11% or so, displaying ambivalent (or anxious) behavior. Finally, the study also pointed out the close association between insecure attachments in childhood and the occurrence of physical abuse or neglect, both of which can contribute to the development of mental illnesses. John Bowlby, the father of attachment theory, considered attachment as a biological necessity - he noted separation anxiety of young children and how babies needed to cling to their mothers in times of stress.

Contemporary Punk and Rock Bands In Religion Essay

Contemporary Punk and Rock Bands In Religion - Essay Example On the other hand, as science progresses to unparalleled heights, belief in a supreme being soars as well so that in a world of increasing chaos and confusion, the presence of individuals and groups that profess their found peace, calm, and sustenance serve as an oasis, if not an inspiration altogether for those who are in between. In many instances, personal beliefs and interests serve as jumping point for careers such as those who love cuisines putting up their own restaurants, divers serving a diving instructors, and related tasks and forms of occupations. This can be said about musicians, too. It is just a matter of interest and personal inspiration. But to some, it may go deeper, or elsewhere. This essay shall try to establish if faith weighs far more than fame for contemporary punk and rock bands through observation and previous literatures. I myself would have loved to interview bands to find it out but due to time and resources constraints would have to use any available sources. Discussion: Religion and Pop Culture It has been suggested that there was a notable relationship between religion and the construction of the identity of the United States of America as can be glimpsed in literatures (McCloud, 2004; Hendershot, 2004; Chidester, 2005). McCloud (2004) traced news coverage of religious movements from the 1950s banal tone and exoticism to brainwashing and coercion in the 1970s and beyond arguing that these served to reinforce assumptions that traditional Christianity is central in US life. Likewise, it also allowed the perceived "outsiders" of the white, middle class and heterosexual fold to be prejudiced. Hendershot (2004), on the other hand, offered an intriguing rationale traditional adherents engage in the consumption and development of a Christian retail industry, arguing further that "to purchase Christian products is to declare one's respectability in a country in which people are most often addressed by mass culture not as citizens but as consumers," (p 30). She proposed that Christian media have become more ambiguous citing crossover artists Jars of Clay, Sixpence None the Richer, Hansen and Creed in the Christian music industry who attained wider audience using insider language in order to appeal to evangelical supporters. Chidester (2005) suggested that "to recover the religious, creative, and imaginative capacity of America, we need to understand and appreciate the religious work and religious play of authentic fakes in American popular culture," (p vii). Butler's (2003) review on 1970s rock-an-roll band Black Oak Arkansas and their "Lord Have Mercy on My Soul" from the album Black Oak Arkansas had him comment that the "preoccupation with damnation and salvation [] is no aberration in the southern rock movement [] bands [] often expressed a seemingly earnest preoccupation with religious matters. The songs lyrics and personal lives of southern rockers demonstrate a constant struggle between sin and salvation." (p 73). He also noted that the use of evangelical ethos is seemed to be easily camouflaged with the rebellious lyrics. Spiritual Punk Rock But this essay will not look further. The most notable punk rock band Nirvana, or its late frontman Kurt Cobain will be the focus here. Zajicek (2006) quoted lecturer Dennis O'Brien, "I think he was a very religious man. He was very much influenced by Christianity, and if you listen closely enough to Nirvana, you'll find all kinds of religious thematics. You'll find that's true in a lot of rock music," referring to Cobain. In his "Smells Like Teen Spirit" 1991 anthem, Cobain wails, "I'm worse at what I do best With the lights out it's less

Integrative Strategic Plan for Davis Service Group Plc Essay

Integrative Strategic Plan for Davis Service Group Plc - Essay Example The selected location also possesses most of the required features which are favorable to the company’s business operations. The report is intended to analyze the decision of entering the Australian market on the basis of several factors such as the analysis of the market and industry, the economic analysis, and other associated factors. A strategic approach has to be taken towards entering the new market of Australia. Â  The language barrier is one of the critical issues observed in the expansion of the business operations of Davis Service Group. As the company has its base in the UK where the language used for communication is different from that of Australia. Though English is considered as the global language for business communications. Â  The difference in currency and their corresponding values in the international market have also proved to be another major barrier. The currency of UK is pounds while in Australia the common currency used for business transactions is Australian dollars. The difference in their values poses a major impact on the business which could lead to a potential loss of export and import of goods and raw materials. Â  For the company, it is also very crucial to consider the cultural difference between the two nations. There could be a wide difference between the behavioral aspects of UK and Australia. So the company is required to consider the Australian culture prior to entering the Australian market. Priorities have to be given to local differences which could be found within the nation of Australia. The company has to give equal importance to all of those cultures and traditions. Â  Certain legal and administrative differences between the two nations also create a barrier which includes government policies, rules and regulations of the nation which is different from that of UK. Several international norms and standards are maintained to reduce such difference to promote international business operations. Â  

PERSONAL ETHICS ACTION PLAN Assignment Example | Topics and Well Written Essays - 2000 words - 3

PERSONAL ETHICS ACTION PLAN - Assignment Example I will never compromise my integrity based on the opinions of others and I will remain true to my purpose and myself. I will remain ethical, motivate and enthusiastic at all times in both my personal and professional duties. While working in groups, I will ensure that my personal life reflects my character of respect, ethics and integrity and maintain the same standards throughout my career. I will lead by example and demonstrate how hard work and integrity pays off both in personal and professional life. I have learned that ethics comprise of the values, norms, beliefs and basic principles that govern interactions of individuals in the society. Sound ethical principles enable and individual to differentiate what is wrong and what is right. From my research, personal ethics provides the moral background that people build their live and assists in decision-making. Ethics will entail the core values that individuals will reflect on while solving day to day problems. I have also learned that ethics differ from one individual to the other and entails the ‘inner voice’ and intuitions that drive an individual in identifying what they consider as right or wrong in decision making. I believe ethics is demonstrated how an individual treats others with respect and dignity. Some of the virtues that guide individual ethical virtues that I have identified through research and course reading include integrity, competence, generosity and respect for other individuals’ lives and dignity. I have noticed that ethical norms are performed through consistent practice of the character traits that individual wishes to portray as the personal identity in the society. Ethics not only requires an individual to comply with the law but also the generally accepted norms in the society. From my discussions with classmates, the best way to understand your ethics is to begin questioning your beliefs, norms and attitudes of the human

Sex Education Essay Example | Topics and Well Written Essays - 1000 words - 1

Sex Education - Essay Example er elements might need to be taught in future sexual education courses, Grace pointed to the fact that it could be potentially beneficial to integrate students with an understanding of Planned Parenthood or means by which many government and/or state sponsored programs seek to speak to the unique needs of the individual student. Ultimately, Grace described the sexual education course that she took part in as a useful and formative part of her early development (Scholz, 2013). Moreover, she indicated that with regards to speaking with parents concerning sexual topics, the interviewee noted that they had a very open and honest dialogue concerning such matters that began as early as late middle school and/or early high school. Conversely, the second individual who is interviewed, Priscilla Yua, noted that her sexual education class left much to be desired. Ultimately, with regards to the first question posed to the interviewee, the respondent noted that the sexual education course never seemed to deal with the realistic situations in which the student may very well face within their sexual growth and development; instead, it focused upon the grotesque, abnormal, and obscene. She noted that this was likely done as a means of horrifying the student from even considering any type of sexual intercourse for fear that they too might be irrevocably harmed. Similarly, with regards to what she most disliked about the program, Priscilla noted that it was the adolescent and juvenile behavior of the participants the most to the way from the experience (Yua, 2013). Likewise, with regards to what level of improvements could be offered, Priscilla indicated that transitioning sexual education to high school might necessarily benefit the individual due to the fact that they could take the... This paper approves that the fact that since individuals develop and mature at different rates, it is seemingly preposterous to assume that they should be taught extraordinarily personal and intimate details concerning human sexual development as a time in which they are ultimately upon different emotional and mental maturity platforms. By the way, sexual education is currently evidenced within the system that each and every stakeholder is satisfied with the level and extent to which key issues concerning sexual development have been covered and/or presented. Sexual education is begun within the elementary school and continues in the various means up until high school. This essay amkes a conclusion that it was the understanding of this interviewer that there was a clear level of correlation between those interviewees that had not discussed sexual topics with their parents/had not received formal sexual training, and those respondents that spoke unfavorably concerning the existence of sexual education or the net benefit they received while in public school. Although it cannot be inferred that the two this level of correlation there exists a definitive realization based upon us, it should be understood that is very likely that sexual attitudes, first evidenced within the family, transcend into the classroom and directly affect the overall level and extent to which be participant can hope to gain value such discussions.

CIPD Essay Example | Topics and Well Written Essays - 250 words

CIPD - Essay Example Ooredoo has over 2.5 million consumers in these regions (Ooredoo Qatar, n.d). The current Revenue of the company is $ 9.3 billion, with assets of over $ 25 billion. The net profit of the company for the last year was $ 800 million. Why Ooredoo needs to change It is a fact that the modern business world is a highly competitive world and it also requires companies to adapt themselves to the business environment and due to this reason, only those organizations are able to survive which can sustain the intense competition. Ooredoo falls in the same category and due to this reason there are some factors which it has to recognize: †¢ Competition:Ooredoo has to face a tough competition from companies like Emirates Telecommunication Corporation, Orascom Telecom Holding S.A. E and Saudi Telecom Company. The company only deals in mobile, internet and corporate managed services, meanwhile Ooredoo’s competitors have launched digital cable television services for example EVision by Emirates Telecommunications and inVision by Saudi Telecom Company(Hoovers, n.d.). All these companies along with Ooredoo serve Middle East in particular. Moreover, most of the customers prefer buying services from one company and the consumer selects cheaper company. †¢ Transformation in organization’s policy:Ooredoo own witribe, a company that provides wireless internet services to people in Pakistan, meanwhile, its competitor Orascom not only provides internet services in Pakistan, but it also own mobile networks.

The Country Husband Essay Example | Topics and Well Written Essays - 500 words

The Country Husband - Essay Example Francis, the leading male character of the story, suddenly finds himself in a situation where despite his efforts he cannot ignore the fact that something is missing in his suburban life. On the whole, it all seems quite right as suburban life might often look but underneath the surface lies a sense of restlessness as if there is a hole in the picture that needs to be filled. after an almost near-tragic experience on the plane, Francis returns home with a heightened sense of his mortality only to find that no one was really interested in that story. This leaves him with a sense of frustration and emptiness which makes him explore life outside his suburban existence. The reaction of his daughter Helen explains what really the core problem was. Helen, "doesnt understand about the plane crash, because there wasnt a drop of rain in Shady Hill" (Shady Hill, 54). She cannot fathom how her father could have been in an accident when weather was just fine in Shady Hill. This helps us understand what the issue is really. The people in Shady Hill cannot see beyond their own suburban boundaries. They are suffering from middle class complacency that doesn’t allow them to see beyond the limited sphere of suburban lives. That obviously limits a person’s view of the world and Francis slowly begins to realize it: â€Å"Looking back over the recent history of Shady Hill for some precedent,†¦"[Francis] found there was none. There was no turpitude; there had not been a divorce since he lived there; there had not even been a breath of scandal. Things seemed arranged with more propriety even than in the Kingdom of Heaven" (Shady Hill, 66). This surreal picture was however sometimes disturbed by people or animals that couldn’t gel well into the suburban structure. Two such people were Gertrude and Jupiter, a little girl and a black retriever, who were living lives on their own terms and in their own way. However

Branches of Psychology Essay Example for Free

Branches of Psychology Essay Abnormal psychology is the area that looks at psychopathology and abnormal behavior. 2. Behavioral Psychology (Behaviorism) )Is a theory of learning based upon the idea that all behaviors are acquired through conditioning. 3. Biopsychology It is focused on the study of how the brain influences behavior is often known as biopsychology. 4. Cognitive Psychology Focuses on internal states, such as motivation, problem solving, decision-making, thinking and attention. 5. Comparative Psychology Comparative psychology is the branch of psychology concerned with the study of animal behavior. 6. Cross-Cultural Psychology Branch of psychology that looks at how cultural factors influence human behavior. 7. Developmental PsychologyThis branch of psychology looks at development throughout the lifespan, from childhood to adulthood. 8. Educational PsychologyBranch of psychology concerned with schools, teaching psychology, educational issues and student concerns. 9. Experimental PsychologyBranch of psychology that utilizes scientific methods to research the brain and behavior. 10. Forensic PsychologyForensic psychology is a specialty area that deals with issues related to psychology and the law 11. Health PsychologyIt is focused on how biology, psychology, behavior and social factors influence health and illness. 12. Personality PsychologyIt is focused on the patterns of thoughts, feelings, and behavior that make a person unique. 13. Social PsychologySocial psychology seeks to explain and understand social behavior and looks at diverse topics. 4. Sports psychology Is a interdisciplinary science that draws on knowledge from the fields of Kinesiology (human kinetic) and Psychology. Mathematical psychology   Is an approach to  psychological  research that is based on mathematical modeling(mathematical concept and language) 16. Clinical psychology Clinical psychology also promotes adoption, adjustment and personal development. 17. Evolutionary psychology This looks at how human behavior has been affected by psychological adjustments during evolution. 8. NeuropsychologyStudy the structure and function of the brain in relation to clear behaviors and psychological processes. 19. Occupational psychology Study the performance of people at work. 20. Integral psychology  Branch of psychology that presents an all-encompassing holistic rather than an exclusivist or reductive approach 21. International  or  global psychology Is an emerging branch of  psychology  that focuses on the worldwide enterprise of psychology in terms of communication and networking. 22. Legal psychologyBranch of psychology  involves  empirical,  psychological  research of the law, legal institutions, and people who come into contact with the law. 23. Media psychology Seeks an understanding of how people perceive, interpret, use, and respond to a media-rich world. 24. Systems psychology Branch of both  theoretical psychology  and  applied psychology  that studies  human behaviour  and  experiencein  complex systems. 25. Theoretical psychology  It is concerned with theoretical and philosophical aspects of the discipline of  psychology.

Beer as a social drink and its subsequent acceptance across the globe.

Beer as a social drink and its subsequent acceptance across the globe. Introduction The study will start with looking at the evolution of beer as a social drink and its subsequent acceptance across the globe. The study will also investigate how different brands came in to channelize communication of beer and incorporated community activities like football, rugby and food as moments for beer consumption to increase product acceptance. We will also look at various international festivals like the Oktoberfest and the Great British Beer festival in UK which have developed as a part of beer culture and helped in the spread of the product through replicated festivals in various parts of the world. Primary research will be done through online surveys and interviews with respondents across Europe, North and South America, and Asia to understand consumer attitudes towards beer in these regions and a comparative analysis will be done on their responses. Based on the insights, the study will investigate whether a similar model can be replicated in India for the nascent beer industry under the following heads: Which of the marketing and communication strategies used in other countries would / wouldnt work in India, and why? Opportunities for replication of festival models from other countries. Implications for the Indian beer manufacturers and marketers, based on a comparative analysis of beer positioning and communication in different cultures. Literature Review A preliminary study of literature on beer industry globally and consumer behaviour revealed the following salient points: * Research shows that beer is a non-food specific drink compared to wine. It is more of a masculine and non-formal occasion drink and associated with fun and social events. When it comes to different brands of beer, it is important for them to focus on positioning and consumer engagement. Beer has slowly become more fashionable to drink with its association with activities like football, rugby and rock music. * Peer pressure plays a huge role on the consumption of alcohol. Alcohol is associated with a list of values which are belonging, excitement, warm relationships, self-fulfilment, well-respected, fun and enjoyment, security, self-respect, and sense of accomplishment. These are important cues for any company while designing their marketing and communication strategy for their brand. * In America, beer joints stress on forming communities through engaging events and activities. The ambience of the place is also very critical since beer consumption is all about having a good time. * Forming a connect with the brand is also an important parameter when it comes to selling beer. As quoted by Mike Bristol, owner-founder of Bristol Brewing Co. in Colorado Springs a lot more people want to spend on a company that they have some common association with. Theyre local, theyre in the community, and theyre visible. Import beers dont seem to be doing well in theirr market or nationally, and he think thats a shift. Beer is also seen as a product, consumption of which does not go down even in economic crisis times. * As per Culinary Currents, Beer, Wine and Spirits. (2008, September 15). Nations Restaurant News, some myths about beer are: Dark beer is heavy Ale is stronger than lager Stout is a meal in a glass Imported beer is better than domestic beer Wine is more complex than beer Fruit beers are girly beers All beer is best served ice-cold Beer and fine dining dont mix  · Some craft beer makers have also tried to mix beer with specially crafted menu like cheese and seasonal food. The restaurants have even started experimenting with beer to create cocktails to increase penetration and frequency of beer consumption. This, though, could dilute the product personality of beer which does not reflect classy, fine dining experience but a more rugged and aggressive environment. This food and beer mix is primarily targeted towards non-regular beer drinkers and first timers.  · Some stats from the US market for March-April 2008 reveal interesting facts (Category Insight, Beverage: Beer Demographics. (2008, April). RETAIL MERCHANDISER, 10.) Beer was the fourth largest in terms of US dollar sales in edible grocery supermarket category. 37% of US adults are regular beer consumers 52% of total beer drinkers are age 28 to 49, but versus their size in the beer-consuming population, 41% of beer volume is consumed by 21 to 27 year olds 32% of beer drinkers shop for beer one to three times each week 47% of beer shoppers buy wine in addition to beer; 41% add spirits 70% are male 84% are White, 10% Latino, 6% African American 59% have an income above $59,000 Grocery is the most common beer channel choice at 46% When available, shoppers overwhelmingly prefer to buy cold beer * A brand study in one of the highest beer consuming nations of the world, Czech Republic and Britain suggests that branding played an important role in the development of the organised beer market in these countries at a national level. The entire system was well structured with organisational hierarchies in place as well as streamlined distribution channels. The regional brands on the other hand, do not follow a very structured nation-wide campaign. Although the brand development in case of national brands in both these countries are at similar levels, as we go down the bracket, the branding of regional markets in Czech becomes lesser developed compared to Britain. For the Czech consumers unlike British, brands were not a consideration in making the choice for public houses as much as the taste and freshness of the beer was. To sustain these smaller breweries, a rule was enacted in which the local public houses were obliged to sell the product from the local breweries restricting t he entry of national brands into these places. This rule though, is not present in Czech Republic making branding more important for them. To keep the beer industry safe in Czech, the breweries have kept the price of their beer lower than the other West European countries. * In 2007, 7 million litres of beer was consumed at the Oktoberfest in Munich in Germany. The biggest cultural context of this festival is the symbolism of equality that is shown as people from all classes and categories sit on the same table to enjoy their beer. The fair is the worlds largest fair which attracts visitors in excess of 7 million from all over the world. Such is the pull of this festival, that similar concepts have been replicated in other countries like Canada, Brazil, USA, and India. * The â€Å"whassup† campaign by Anheuser-Busch for Bud Light revolutionised beer advertising as it targeted the core group of 21-27 year old males who loved to hang out with friends over sporting events. * The Indian consumer mindset can be divided into the following sub heads: Mind over Matter The Functional over the Ornamental Fear of Tomorrow Enjoying the Ordinary The Desire to Fit In * In UK, beer advertising has been moving towards more engaging media like the internet from televisions to deepen their customers experience. Companies like Stella Artois have invested in multi-layer brand experience which tries to connect more with the customers and at a personal level. * Taking the case of Heineken, a lot of its global success can be attributed to its consistency in quality and uniformity in brand message everywhere. The marketing of Heineken is a combination of global feeling and local execution. * In its 2004 report, Global Status on Alcohol, the World Health Organisation (WHO) estimated there were 2 billion drinkers of alcohol on the planet. Trends suggest that for brands to become bigger, globalisation is the way forward. This becomes slightly easier as the consumers in most developed countries and emerging economies are now well informed and despite the cultural differences, are more open to international brands. * The study of global drinking trends suggests emerging markets have much better growth rates than developed markets where the growth is static. Urbanisation, affluence and influence of mass media is playing a major role in this growth. The availability of alcohol in supermarkets is also driving consumption. Beer stands fourth after carbonated drinks, tea and water in terms of share of throat in the world. The off-premise locations are drivers of volume whereas value drivers are the on-premise outlets. In mature markets, growth will be driven by experiential marketing. Barman and barista in urban areas are acquiring celebrity chef status. * In traditional drinking alcohol essentially signified a males entry into adulthood and was associated with food. In the modern day, drinks have become more of an individuals style statement and identity. It is important now to be seen with the right drink for the right occasion. Communities and association with them has become more important than before. Another newly developing phenomenon is that of post modern drinking where connoisseurship, novelty and exclusivity are taking predominance. Themed drinking associated with specific cultures is also seeing a good interest amongst the travelling class who get exposed to different cultures frequently. Some of the names like Guinness and Scotch whiskey have become iconic as they are seeped deep in the local culture. * According to the Euromonitor report of 2005, the following are the key drivers in the beverage industries in the major countries Australia convenience and health, mature market needing to add value. Alcohol part of the culture Brazil status, sociability and convenience, developing market with opportunities for growth and adding value. Market vulnerable to economic volatility, beer and football key to national culture China affordability, convenience and status in cities, developing market with huge urban potential, rural areas remain largely unchanged France convenience, sociability and status, traditional drinking culture being eroded by changing demands and globalisation Germany price, convenience and health, mature market opportunities to add value. Interest in discounters among affluent and poor Italy sociability, status and health, mature market adapting to changes but traditional infrastructure Japan convenience, status and health, mature market, highly fragmented and source of innovation Russia affordability, convenience, status, high consumption of locally produced spirits as well as increasing presence of global brands in the cities, high beer and vodka consumption. Alcohol dependence an issue among rural male Russians Spain status, sociability and health, directional market in terms of youth drinking trends older drinkers stick to traditional drinking, young driving the post-modern UK convenience, sociability and health, mature market adding value through novelty concentrated retail infrastructure US convenience, sociability and health, mature market adding value through segmentation and premiumisation * A few of the future trends which can be seen in the global drinks industry are health awareness, fusion drinking, artisan brands and connoisseurship experiential marketing and sociability. * Specific to Germany which has the 3rd highest beer per capita consumption in the world, the consumption of beer has been slowly going down. This is attributed to rising prices and the health consciousness of the drinking population. In turn, flavoured beer, non-alcoholic beer and malt-based Ready to Drinks are showing growth in consumption. * A major development in recent years has been the role and involvement of women in purchasing the drinks. Some of the international brands have started targeting women by creating flavoured beers for them. The communication strategy still targets the male predominantly though. * Econometrics study in the US by Franke and Wilcox suggests that there is no significant correlation between the beer advertising and alcohol consumption. All advertising does is make people aware of the brands available but does not really affect the amount of beer consumed overall. A study by Waterson in UK, shows that although advertising spends increased 80% between 1978 to 1987, the actual sale of beer in this period fell by 14%. The study also included Sweden which has banned alcohol advertising since 1979 with similar results. * The April 2009 Euromonitor report on beer shows a global demand of 184.6 billion litres. In the mature markets volumes are declining but in terms of value consumption is increasing. Laws on drinking and driving are encouraging growth of low/non-alcoholic beer and currently it accounts for 2% of global beer market but is showing high growth rate especially in Muslim countries. In Spain, this category already accounts for 20% of beer volumes. There is also a trend of moving away from the conventional beer type to niche segments like wheat beer and craft beer. Dark beer is also seeing a healthy revival in growth. * Specific to India, beer consumption has registered an increase of 700% between the period of 1995-2007. The per capita expenditures on alcohol have grown at twice the rate of the average growth in the rate of expenditure in this period. The average of 24 in the country with affluence, access to mass media and information, lowering of entry barriers and high awareness levels means a goldmine of an opportunity for alcohol companies. Retailing for wine and beer is now allowed in supermarkets on a lot of states thereby reaching out to more potential consumers, especially the women. This has also resulted in more and more urban households stocking alcohol at their homes unlike earlier times. Finally, the major beer manufacturers will have to compete for an expanding but challenging global market, which will ask hard questions of the positions that global players occupy by category, price point and geography. India will form a major part of this strategy shift and it is already visible with the number of beer brands that have entered the Indian market in the past 2 years. All the research done above talks about beer as a part of the popular culture in developed markets. The challenge is to try and suggest a workable strategy for India based on consumer insight to tap the enormous potential that it offers. India today stands at the forefront of this opportunity and hence it is important for these international players to understand the cultural nuances of the Indian consumer before formulating their strategies for the market. Conceptual Framework/Problem Definition India has one of the lowest annual per capita consumption levels of beer in the world, at 1 litre. The biggest international names like InBev/Anheuser-Busch, Heineken and Carlsberg have already started making investments in the market. Carlsberg has already invested close to $ 200 milion in production facilities in the country. The other companies are also entering the market through tie-ups with local players or setting up their own breweries. The growing affluence and increased disposable incomes along with the low average age of Indians presents a huge potential waiting to be tapped by these players. The increased global travel and exposure to western media has led to changing attitudes towards alcohol. This is expected to boost beer sales, while shifting government policy regarding alcohol and reductions in taxes and duties present interesting opportunities for large domestic and multinational players alike. Some of the states have already allowed beer to be sold in supermarket f ormats thus increasing penetration of beer substantially. For international players, the race is on to establish local manufacturing facilities and distribution networks, in order to gain first-mover advantage over other entrants. Currently the Indian market is dominated by local players but lack of other options has a major role to play in this. Curiosity and aspirational value attached to imported beer presents a unique market for these international players. Clear opportunities exist for those companies which are partnering with local companies or setting up their own breweries to get a head start in this dynamic market. At this juncture it is of paramount importance for these companies to get their marketing and communication strategy right. This is all the more important because the Indian market and consumer presents a challenge which is different from any other country in the world. Even within India, the cultural diversity is such that different strategies might be needed for different parts of the country. The current literature reviewed primarily consists of work which has been done in the developed beer markets or talks about projected figures based on empirical data. The biggest gap in such projections is the lack of understanding of the Indian consumer. Launches of a number of successful international products in India backed by such research have failed because of this. This research will try and understand the cultural differences between the Indian beer drinker and the western beer drinker and do a comparative analysis to gain insights which can be used to design the marketing and communications strategy for these international companies. Beer as a product has been successful in developed countries because of the community culture they have created amongst the consumers. The research will help determine key drivers and key characteristics of the Indian beer market. Proposed Research Design The research will be carried out through administering questionnaires to the beer drinking community in urban India as well as respondents in USA, Canada, Germany, UK, Columbia, Brazil, China, France, Poland, Finland, Slovakia, Lithuania and Korea. Detailed interviews will be carried out with some respondents in all these locations through telephonic interview/online interaction to understand the culture of beer consumption there. An analysis will also be done to compare the communication of the top 3 brands of the world in all these countries to see the differences and similarities and how these consumers absorb it. The Indian respondents will then be shown the communication used in all these countries and insights will be taken on their response to each communication. This will give us insights on the cultural differences and similarities between the Indian consumer and their international counterparts. The sample size will consist of at least 10 detailed interviews of international respondents and 10 in depth interviews on Indian consumers. The questionnaires will be administered to 150 beer drinkers in India and 50 based abroad. The sample size of the questionnaire might increase based on the response of the target group. Expected Contribution The study as earlier mentioned will give a deep insight into the mindset of the urban Indian consumer with respect to beer. It will also look at what are the associations that the Indian consumer has with the alcohol industry in terms of perceptions and specifically with beer. Their responses to international communication will be recorded and analysed to define the key drivers and the key characteristics of the Indian market. The final output as mentioned in the introduction would address at the following heads: Which of the marketing and communication strategies used in other countries would / wouldnt work in India, and why? Opportunities for replication of festival models and other community building activities from other countries. Implications for the Indian beer manufacturers and marketers, based on a comparative analysis of beer positioning and communication in different cultures.

Leadership And Teamwork In Action

Leadership And Teamwork In Action When reflecting on the practical team event, based in the Llandysul Paddlers and Canoe centre on the first and second of November, many examples of teamwork and leadership were shown by the group members. When faced with some of the tasks and problems that the occurred during the event, different members of the team displayed various characteristics that showed them to be team workers or team leaders, and sometimes even both. The following report reflects on some points raised during the event, and aims to show examples of leadership and teamwork in action. The report also discusses various topics which include, but are not limited to, how the team developed over the weekend, what leadership skills and strategies were covered by the event and how leadership skills were developed and influenced by the event. Other topics which are relevant to the subject matter with also be discussed and critically analysed. 2.0 Methodology The research methodology used for the basis of this report is mainly first hand account of a weekend attended by myself and the other people in my lecture group. I will use first hand experiences from this weekend, along with academic theory and relevant examples. 3.0 Main Body Colin Powell once stated that leadership is the art of accomplishing more than the science of management says is possible. This statement reflects on the fact that good leadership is a skill that you are not born with, but something that needs to be developed. To become a good leader, your skills must be developed through a process of training, education and experience. The practical team event on the 1st and 2nd of November was an experience which proved to be a valuable insight into the roles of a person in a position of leadership, and showed many examples of teamwork in action. From the outset of the weekend, it was clear by the way in which it was proposed, that it would be a very team orientated event. Our group met on the morning of the 1st of November, and we were gathered onto busses and taken to the Llandysul Paddlers and Canoe Centre, Carmarthenshire. When we entered the centre, we were greeted by all the centre staff, and introduced to them all. This appeared to be done in a very informal way, though it served a purpose. Not only to introduce the team leaders to all of the group members, but also to re-enforce the sense of team atmosphere in the centre. The leader of the staff team, and the manager of the centre Gareth Bryant, first introduced himself, then the other staff members. It was also done to address the question of who was the leader of the staff team. It was only after introducing everyone that our teams were selected. To encourage people to integrate with people outside of their friendship circles, and to make new friends, it was not left to the team members to choose which team they would like to be in. As expected, when everyone entered the centre, and took a seat, people sat in their friendship groups with people that they knew and trusted. In an attempt to break this barrier of friendship, Gareth selected the groups at random. This ensured that the teams were well mixed with a wide variety of team members of various sex and backgrounds. To encourage team dynamics, after our teams had been chosen for us, we were shown to our sleeping quarters, and it was implied that each team should stick together over the course of the weekend very closely. In this environment, where dangerous activities are taking place, it is more important than ever to have a fully functioning and well selected team. Teams can achieve brilliant things if they are well functioning and work well together. This is mainly because of the team sense of purpose, where everyone is aiming to achieve one single outcome. According to the work of Dr. Meredith Belbin (Management Teams Why they succeed and fail, 1981) members of a group or team can have many roles associated with each of them that allows for a smooth running group that works well. Belbin defines a team role as A tendency to behave, contribute and interrelate with others in a particular way. These behavioural tendencies facilitate the progress of a team, because of the way people with different roles work with each other. The members of a team know their place in the team, and can benefit the team as a whole by helping to work towards the objectives set. Belbins research concluded that there are nine team roles, within a well functioning team, and each of these roles must be played by at least one team member. This does of course not mean that each member is limited to one role, or that a team should have nine members to work well. It simply means that if each of these roles is present within a team, the team will work to a much higher standard overall. After working through some team exercises with some of my team members, it was clear to me that some of what Belbins research suggested was indeed the case. It soon became apparent to some extent that members of the team were showing characteristics in line with those suggested by the research. Some members of the team were happy to just be a team worker, and simply do what is needed of them. Other team members were constantly coming up with new ideas, and new ways to tackle problems. These are known as Planters because they are creative and imaginative and keep arriving at ideas to face problems. During many of the exercises, I was quite disappointed to find that I displayed a lot of the characteristics of a monitor evaluator. Although this, as all the other roles, is an important one, it did mean that I simply got on with the job in hand, and lacked the drive to inspire others. This is probably due to my lack of confidence with my own ideas, as sometimes I do not raise ideas as I think that other people will not agree with them. I did notice this lack of confidence becoming much less of a problem as the event progressed, however. I did occasionally get given the opportunity to become a co-ordinator, when I was given leadership roles, but I will discuss that in more detail later on. The way in which the teams were selected for this exercise also meant that friends were placed in opposite teams that would occasionally have the chance to compete with each other. Competition is very important for teams to work well because a lot of people thrive on the thrill of competition, and generally love to compete. At the very least, this is due to the fact that people love to take part in an activity with a purpose, but more often than not, people compete for the thrill of winning. Admittedly, a lot of people stick to the ideal that its not the winning, but the taking part that counts. In this case, there are many examples of competition to help progress the teams. One such example occurred in the form of a race. The team building exercise showed many different examples of competition, but the biggest one was the plank walking exercise. The team was split into two groups by the instructor, and each team was given two planks of wood with pieces of rope attached. It was the job of each team to stand on the wood, whilst holding the rope and attempt to collectively walk the wood to the finish line. This task sounded simple, but was unfortunately full of difficulties. Our team was one of the worst performing in this task, not only because of a flawed system, but also because of bad communication within the team. Jennifer, one of our team members, elected herself immediately as the leader of our team, and started trying to devise a system as to how we could complete the task. Unfortunately, going back to Belbins theory, we had two other plant members of the team, each with different ideas. In the end, our system became too complicated, and while we were still discussing how we were going to attempt the task, the other team was completing its trial run. Katzenbach and Smith commented on teams in their book (The Wisdom of Teams, 1998) stating that a team is a small numbers of people with complimentary skills who are committed to a common purpose, performance goals and common approach for which they hold themselves mutually accountable. Teams are designed to maximise output, and encourage continuous improvement. In our example, this was certainly not the case. Due to conflicting personalities and ideas in the team, it took us far too long to bring what ideas we had into practice, and we were left behind in the race. This was partially due to the fact that the other team members may not have wanted to elect Jennifer as the leader and they disliked the fact that she took and otherwise positive step in using her own initiative to elect herself as one. I also believe that this exercise was a good example of the Ringlemann Effect in action. This is because moving the wood was a joint effort, but it became increasingly more and more difficult to move as time went on. I suggest that this was because people were slacking and loafing and not putting their full effort in. The stages of our group development were in fact closely matched to Tuckmans four stages of group development model. The forming stage was short lived, our group like all the others was formed early in the exercise at the centre. During this stage, there were few problems or conflicts within the group, as everyone was in high spirits. The first exercise that our group embarked upon was the Kayaking, which although we were in high spirits, people argued over equipment and small items very quickly. These arguments could most likely be attributed to the cold and wet weather. By our final exercise, the rock climbing, we seemed to have reached the third stage of the Tuckman model of norming. Our group was more established by this point and responsibilities were clear and well formed. Everyone was more open to suggestion and less likely to criticise. People were also less resistant to new ideas. The rock climbing was a good example personally of how peer pressure in groups works. I had been rock climbing before and had not enjoyed the experience. On this attempt, when it was my turn to face the rock, I had started to climb when a rock moved as I grabbed it, which knocked my confidence. I had decided to climb down from the rock by this point. When I saw everyone else scaling the same rock face later on, I felt that I should not have been so quick to give up. When it was my turn to attempt the abseiling, I attempted it with no fuss or problems at all. I even found myself encouraging other group members and comforting Simon by telling him how strong the ropes actually are. I feel personally that the rock climbing was the best experience for me, even if it was not the most successful in terms of results. I feel that I did well to overcome my initial fears in attempting it again. This was, in part, due to the advice and support of other team members, and of course group peer pressure. As I mentioned previously, teamwork is extremely important in tasks like this teambuilding weekend. This is not just due to reasons of morale, but also because of synergy. This basically means the interaction of two or more agents, so that their combined effect is greater than the sum of their individual effect. Simply put 1 + 1 = 3, because the effect on teamwork on a task improves output and efficiency greatly and in a very positive way. The leader of a team is described as a person who influences others so that they may accomplish an objective. This is quite a broad definition, though it applies just as well to most examples of teams in a team working environment or situation. If someone elects themselves as the head of a team, or their superior elects them as the leader, this does not automatically make them a leader. It simply makes them the person who is in charge. To be effective leaders you must make people want to achieve the goals that you set them, not because they are forced to accomplish or complete them. Bass (1989) theory of leadership explains that there are three ways to define how people become leaders or develop into a leadership role. In the case of examples of leadership from the team building exercise, it was always the case that there was a leader involved, simply because of the dangerous nature of the activities that we were doing. The instructor of each activity was normally the leader, as they had been told to do so by their manager, and it was their job. However, sometimes as the tasks involved allowed, the instructor stepped down and elected a different leader for the task. For the kayaking task, after we had some basic training on the water, the instructor stepped down to allow a different activity to take place. In this example, it was myself that was elected as the leader of the group. It was my task to transport a member of the group, who was pretending to be injured, across the lake. The severity of the situation was important and very high, because I was told that the injured party had hyperthermia setting in, and their condition would deteriorate rapidly if help was not found. As Bass describes in his transformational leadership theory, awareness of the importance of the task motivates people. This was certainly true in this case, because if there was no time limit, people would not be rushed to complete the task. Bass describes charisma as an important factor in leadership as charisma evokes strong emotions with the leaders followers. Being elected as the leader of the kayak task was not easy. The instructor advised me as to what equipment I was allowed to use and that everyone must reach the other side of the lake quickly and safely. When you are elected as a leader, especially in a crisis, it is often hard to decide which tasks to approach first. Bass talks about this in his Great events theory where he mentions that sometimes a crisis or event can cause someone to be elected as a leader, which was exactly what occurred in this situation. In my situation as leader for this task, I initially found it very difficult to effectively allocate resources, as I initially found myself focussing too much on certain aspects. The instructor was quick to step in and point out on a couple of occasions that I had team members who were sitting around, doing nothing. It was only later in the process that I began to effectively keep everyone in the team informed of the situation and to use the full capabilities of the group. One of the other important principles of leadership was that I needed to follow was to ensure that all tasks were understood and supervised until they were completed. This is important because some of the members of the group were not well informed at all times, so they simply sat around while others attempted to do the task around them. During this task, I definitely found that there was a communication barrier between myself and some of the Chinese speaking group members. This was usually just a language barrier. This was soon avoided when I managed to convince them of the severity of the task, and the speed needed to complete it. Trust was also an important factor in the exercise. The injured party was not allowed to move at all, or help her team mates in any way. Because of this, the injured team member had to be carried into a kayak and across the lake while being completely immobile. This must have been a hard task because putting all of your trust in the hands of people you hardly know, especially when there is water involved, is no small accomplishment. Communication is one of the key aspects of leadership. As I have previously mentioned, language can be a barrier, but communication of all aspects is important. Especially during the exercise when I found myself in a leadership role, I realised it was very important for your team as a whole to keep them informed of developments and even simply what you require them to do. It is often easy, especially when discussing ways to complete a task for team members to either not give any input at all, or to simply go along with the general consensus and not say anything. I feel that if I have learned anything about communication in this leadership weekend, it would be that is important to raise your own views, and to listen to the views of others, and take their comments and criticisms on board. 4.0 Conclusions Leadership is the art of influencing people accomplish tasks and objectives. Leadership is not something that you are born with, however you are born with certain traits which make some people more suitable for leadership roles than others. Leadership skills must be developed through time. Teamwork can be a very important tool that helps develop and accomplish tasks. There are many different types of people who make up a team, but too many people with new ideas can make the situation become argumentative. Over the course of the management weekend, some people showed themselves to be more suited to leadership than others, or more suited to teamwork than others. However, the duration of the weekend was short. Some suggested that it should have been over a longer period, even as long as a week. This would have given us more chance to develop theory associated with teamwork and leadership, however, time and financial concerns would limit this greatly. Overall the weekend was an excellent opportunity to see management, leadership and teamwork in action, and was a very valuable experience overall.

Bankruptcy :: essays research papers

Chapter 7 Bankruptcy vs. Chapter 13 Bankruptcy   Ã‚  Ã‚  Ã‚  Ã‚  Chapter 7 and Chapter 13 bankruptcies are full of advantages and disadvantages. But at the same time they are very different. Without knowing these differences a person could lose many things from money to possessions. Chapter 7 bankruptcy can wipe out most of ones debts but certainly not all of them. Certain kinds of debt are not covered by the terms of Chapter 7. Some examples of debts that must be paid after filing for bankruptcy would include child support, alimony, income taxes and penalties, student loans, and court ordered damages due to unfair and unrightous acts. Bankruptcy courts handle your financial problems until the case ends. A court assumes control of all ones debts that are owed and all property that is not exempted. A person, trustee, is appointed to be in charge of your debt. The trustee collects property that can be taken and sells it to repay some creditors. That property can be surrendered to the trustee, one may pay the market value of it or one also may choose to trade exempt property with nonexempt property. A small number of people actually lose property when filing bankruptcy. If a person changes their mind about filing for bankruptcy they may ask the court to dismiss the case. At the end of the process the court would discharge most of the debts and one is unable to file for Chapter 7 bankruptcy again for at least another six years.   Ã‚  Ã‚  Ã‚  Ã‚  Chapter 13 bankruptcy us mostly used to make up any type of debt payments and pay things off and in some cases it can be used to stop a foreclosure on a house. Chapter 13 bankruptcy cases usually last up to 5 years. During that time one would have to live under a strict budget that would require discipline. Most debtors that file for chapter 13 bankruptcy never pay back all their creditors all that they owe. That can ruin your credit because it stays on file for at least 10 years. Money management seminars are available to those that have paid 75% or more of their debt. Chapter 13 bankruptcy allows creditors to get at least some of their money back. Debtors keep all of their property and would out a compulsory, court-enforced plan to repay a portion of their debts over a certain period of time. With Chapter 13 bankruptcy some debts may be discharged but alimony and child support continue to be an obligation that must be fulfilled.

Essay --

En Marà ­a el trama es ingenuo se describe el amor de Efraà ­n y Marà ­a de una manera sincera y inocente hasta que ocurre la muerte de la protagonista. La novela sentimental se identifica porque siempre tiene una pareja enamorados con diferentes problemas. Donde los hechos se desarrollaron en una forma directa, y aunque Isaacs narra en primera persona, es sabio todo lo conoce. Teniendo el conocimiento de lo que ocurre significa que la novela fue creada con elementos autobiogrà ¡ficos con aspectos de su propia vida. Esta novela presenta caracterà ­sticas importantes que utilizan en novelas romà ¡nticas como el romanticismo, costumbrismo y el realismo. En esta novela discutimos en la clase que contiene informacià ³n autobiogrà ¡fica del autor Jorge Isaacs. El vivià ³ en la casa donde se describe que era la casa de Efraà ­n donde se desarrollo el idilio en la hacienda llamada â€Å"el paraà ­so†. Conociendo detalles del autor hace entender la novela mas, como Isaacs siendo hijo de padres judà ­os igual que Efraà ­n convertido al cristianismo. Ambos estuvieron interesados en las mismas lecturas y estudiaron la poesà ­a, tambià ©n queriendo ser doctores. En esta novela se caracterizan muchos elementos importantes de una novela romà ¡ntica como la idealizacià ³n de la naturaleza. La abstraccià ³n del paisaje y la personificacià ³n caracteriza gran parte de las novelas romà ¡nticas. La cuidad del Cauca donde el autor pasà ³ su nià ±ez y mayorà ­a de su vida es donde ocurre el romance, porque Marà ­a fue adoptada por sus padres ella fue a vivir a esa casa. En que los dueà ±os, y esclavos viven del amor cristiano. La convivencia es normal a pesar de la diferencia social y econà ³micamente. Igual que la idealizacià ³n en esta novela el romanticismo està ¡ representado por varias formas. En ... ...a donde es posible estarlo en esa posicià ³n. Isaacs expone su preocupacià ³n por el realismo al prohibir la inhumanidad de lo que era la esclavitud. Las maneras de los personajes realistas se imponen en dos socios de Efraà ­n. Por ejemplo, â€Å"Pude notar que mi padre, sin dejar de ser amo, daba un trato carià ±oso a sus esclavos, se mostraba celoso por la buena conducta de sus esposas y acariciaba a los nià ±os.† Los personajes Carlos y Emigdio. Los à ºnicos personajes romà ¡ntica as son Marà ­a y la mama de Efraà ­n. Efraà ­n tiene la personalidad de su creador con cierta idealizacià ³n. El ser perfecto es grande en esta novela, la ambicià ³n de Efraà ­n y su amor imposible hace que separe a los dos. El realismo se nota en esta novela por los personajes menores como los esclavos y la clase baja. Los actores secundarios està ¡n presentados de una manera realista, y no idealizan nada romà ¡ntico.

Lukes Three Dimensions of Power :: Power Society Symbolism Culture Essays

Luke's Three Dimensions of Power   Ã‚  Ã‚  Ã‚  Ã‚  "Power serves to create power. Powerlessness serves to re-enforce powerlessness"(Gaventa,1980:256). Such is the essence of the on going relationship between the Powerful and the Powerless of the Appalachian Valley where acquiescence of the repressed has become not only common practice but a way of life and a means of survival. In his novel Power and Powerlessness, John Gaventa examines the oppressive and desperate situation of the Appalachian coal miners under the autocratic power of absentee land-owners, local elites, and corrupt union leaders. His analyses is based on Lukes three-dimensional understanding of power from his book Power: A Radical View. Gaventa applies the three notions of power to the politics of inequalities in the Appalachian Valley and, while demonstrating the inadequacies of the first or 'pluralist' approach and the merits of the second and particularly the third dimensions, asserts that the interrelationship and reinforcing affect of all three dimensions is necessary for an in depth understanding of the "total impact of power upon the actions [or inactions] and conceptions of the powerless"(Gaventa:256)   Ã‚  Ã‚  Ã‚  Ã‚  This essay will examine Luke's three power dimensions and their applicability to Gaventa's account of the inequities found in the valleys of the Cumberland Mountains. Reasons for the mountain people's submission and non- participation will be recognized and their nexus with the power relationship established. In this way, Gaventa's dissatisfaction with the pluralist approach will be justified and the emphatic ability of the other two dimensions to withhold issues and shape behaviour will be verified as principal agents of Power and Powerlessness.   Ã‚  Ã‚  Ã‚  Ã‚  The one dimensional view of power is often called the 'pluralist' approach and emphasizes the exercise of power through decision making and observable behaviour. Robert Dahl, a major proponent of this view, defines power as occurring in a situation where "A has power over B to the extent he can get B to do something that B would not otherwise do"(Dahl as cited in Lukes, 1974:11). A's power therefore is defined in terms of B and the extent to which A prevails is determined by its higher ratio of 'successes' and 'defeats' over B.   Ã‚  Ã‚  Ã‚  Ã‚  Observable behaviour then becomes a key factor in the pluralist approach to power. Dahl's Who Govern's? expresses the pluralist belief that the political arena is an open system where everyone may participate and express grievances which in turn lead to decision making. Those who propose alternatives and initiate issues which contribute to the decision making process are demonstrating observable influence and control over those who failed all together to express any interest in the political process.   Ã‚  Ã‚  Ã‚  Ã‚  The Pluralist approach assumes that in an open system, all people, not

Assessment of the Necessity of the Nuclear Proliferation Treaty

Perceptions regarding nuclear weapons presents a contradiction in terms of the existence of a â€Å"peaceful nuclear past and a fearful nuclear future† (Sagan 66). Such a contradiction exists in terms of our current understanding regarding nuclear weapons and deterrence. Consider for example that during the Cold War period, nuclear weapons were widely believed to be one of the most important factors in maintaining the peace between the United States and the Soviet Union (Cimbali 224). Currently, on the other hand, it is widely believed that enabling the continuing spread and development of nuclear weapons will only increase the risk of the development of a nuclear war. This is based upon the assumption that rival countries that are considered nuclear powers are unlikely to maintain stable deterrence. Due to this concern regarding the prevention of such an event, the Nuclear Non-Proliferation Treaty was formulated during 1968. The treaty imposed an international limitation to the spread of nuclear weapons. It is based upon three main tenets: non-proliferation of nuclear weapons, disarmament of nuclear weapons, and the peaceful use of nuclear energy. What follows is an analysis of the nuclear proliferation argument. As was stated above, the main rationale for the Nuclear Proliferation Treaty (NPT) was the prevention of nuclear wars caused by the unstable deterrence between nuclear weapons states. According to the Canadian Foreign Minister Lloyd Axworthy, the agreement is based upon international mechanisms that operate within the foundations of international laws and norms. Anxworthy further states that the NPT opts â€Å"to promote and achieve a world without nuclear weapons† hence a world without a nuclear war impending in its historical future (1). As opposed to this, it has been argued by political scientists that if the main rationale for the treaty was the prevention of nuclear wars, then the treaty by prohibiting the proliferation of nuclear weapons defied itself in so far as enabling the proliferation of nuclear weapons ensures the prevention of nuclear wars. According to Kenneth Waltz, â€Å"nuclear weapons have been given a bad name† (731). Waltz argues that it is fallacious to assume that since nuclear weapons may cause catastrophic nuclear exchanges, nuclear wars will thereby cause global destruction. Waltz argues that nuclear weapons will enable the development of stability and peace since â€Å"a nation will be deterred from attacking if it believes that there is a possibility that its adversary will retaliate† (734). It is important to consider that Waltz’s claim is based upon the assumption that major wars amongst states occur as a result of the estimation of zero or low retaliation costs of a state from another state. In lieu of this, it is thereby possible to conclude that allowing the proliferation of nuclear weapons lessens the possibility of the development of nuclear wars since it ensures that countries will consider the high amount of risk involved in launching a nuclear attack towards a state with similar military capacities. In lieu of this, I would like to conclude that it is indeed true that the choice between a more peaceful and co-operative versus a war-ridden and hostile world is highly dependent or critically dependent on the future of nuclear weapons however, it does not necessarily necessitate the prevention of their further spread. Works Cited Cimbali, Stephen.   The Dead Volcano: The Background and Effects of Nuclear War Complacency.   Portsmouth, NH: Praeger/Greenwood, 2002 Halard, Muller, David Fischer, and Wolfgang Kotter.   Nuclear Non-Proliferation and Global Order.   Oxford: Oxford Univ. P., 1994. Waltz, Kenneth.   â€Å"Nuclear Myths and Political Realities.†Ã‚   American Political Science Reviews 84. 3 (September 1990).      

Cost and Revenue Function

Algebra I Cost-Revenue Business Project This project is designed for you to demonstrate your understanding of systems of linear equations. Before starting, read the entire project outline and requirements. During this project you are to do the following: 1) Pair up with a partner and create a business that sells one commodity of your choice (points for creativity). 2) Create a Market Research Survey that will be used to survey 50 students to help you discover what potential customers are looking for in the product your group will create and sell.The survey must include a minimum of three questions. 3) Conduct the survey. 4) Create a list of fixed costs – items and prices. Consider items such as a store, equipment, furniture, advertisement, etc. Use the survey results to revise the fixed cost list if needed. Include the total fixed cost. 5) Create a list of variable costs. With each variable cost include the dollar figure calculated per unit. Once again, use the survey results to revise the variable costs list if needed.Sate the total variable cost. 6) Using the survey results and the total variable cost determine the product price. 7) Write the COST function and the REVENUE function. 8) Solve the system of equations algebraically using the substitution method AND the linear combination method in order to find the break-even point. 9) Create a model of the product. 10) Create a Power Point Presentation that includes the following: †¢ A written introduction including a description of the product. A picture of the product †¢ The completed Market Research Survey †¢ A written summary of the survey results †¢ A list of the fixed costs and the total †¢ A list of the variable costs and the total †¢ The cost and revenue functions †¢ The algebraic computations of the break-even point †¢ An accurate graphical representation of the cost and revenue functions that shows the break-even point and the regions of loss and profit (l abel all items)†¢ A written explanation of the break-even point and the profit and loss regions of the graph. 1) Prepare a 5 minute presentation in which both partners share the responsibility of discussing and demonstrating: †¢ An introduction of the business and product †¢ The product or model of the product †¢ An explanation of how the Market Research Survey was used to help develop the product, the costs, and the product price †¢ The cost and revenue functions †¢ The algebraic computation of the break-even point †¢ The graph of the cost and revenue functions, the break-even point, and the regions of loss and rofit †¢ An explanation of the break-even point and the profit and loss regions of the graph †¢ Graphing the cost and revenue functions and finding the break-even point using the graphing calculatorAlgebra I Cost-Revenue Project Names: _________________________ _________________________ Work time and due dates: You will be given t ime to get organized today, 10 minutes of class time on Feb. 10th and 11th. We will work in the computer lab on Feb. 12th & 16th. †¢ You will give your presentations on Tuesday February 17. Power Point presentations must be emailed to me ([email  protected] k12. or. us) by 7:30 am on February 17th. If I don’t have it by then you will loose ALL presentation points. Power Point †¢ †¢ †¢ †¢ †¢ Introduction of the business and product The product The completed Market Research Survey A written summary of the survey results An explanation of how the survey was used to help develop the product, the costs, and the product price A list of the fixed costs and total A list of the variable costs and total The cost and revenue functions

Impact of Leather Waste

1. 1. 1. Leather industrial waste: Prominent effectiveness of leather industry is amplified by high input and expenditure but on other side it causes huge waste of resource, incredible environmental pollution and biological chain destruction [17]. Streams of gaseous, liquid and solid waste are resulted by environmental blow of tanneries. Global leather industry generates 4 million tones of solid waste per year [18]. People use products of the leather-processing industry on a daily basis. These include especially shoes, leather and textile goods; we normally encounter leather products even in both public and private transport. The primary raw material for final products is hide from animals from slaughter houses and hide from game—i. e. waste from the meat industry, which is processed in tanneries and turned into leather. Therefore, the tanning industry can be considered one of the first industries to use and recycle secondary raw materials. Although the tanning industry is environmentally important as a principal user of meat industry waste, the industry is perceived as a consumer of resources and a producer of pollutants. Processing one metric ton of raw hide generates 200 kg of final leather product (containing 3 kg of chromium), 250 kg of non-tanned solid waste, 200 kg of tanned waste (containing 3 kg of chromium), and 50,000 kg of wastewater (containing 5 kg of chromium) [1]. Thus, only 20% of the raw material is converted into leather, and more than 60% of the chromium is in the solid and liquid waste. During the production of leather goods, especially shoes, manipulation waste is produced, whichmakes about 15–20% of the entry material—leather. The last kinds ofwaste are used leather products which have lost their utility value. 1. 1. The possibility of oxidation of CrIII to CrVI The basic question is the possible oxidation reaction from chromium III to chromium VI. In basic solutions, the oxidation of CrIII to CrVI by oxidants such as peroxides and hypohalide occurs with ease [2]. Such strong oxidation conditions are realized in the process of the sterilization of drinking water. This is the first threat to human health and life. Rain (especially acid rain) can leach chromium III from waste dumps, and soluble salts can then reach sources of drinking water. During the sterilization process by ozone or hypochloride, chromium III is converted into chromium VI and reacts with magnesium and calcium ions occurring in drinking water to produce carcinogenic magnesium and calcium chromate or dichromate salts. Another problem concerns the possibility of oxidation of CrIII into CrVI in gentle conditions by air in the wide range of pH. Principally, oxidation can be realized after the following equations: According to the European Commission (EC) the quantities of solid waste produced by tanneries depend on the type of leather processed, the source of hides and skins, and the techniques applied [2]. On an average, at the end of the process, about 20% of the weight of the raw hides is (grain side) leather [2]. On the other hand, in Rio Grande do Sul, approximately 40% of the initial raw material is transformed into solid and liquid wastes [3]. In the tanning industry, raw skin is transformed into leather by means of a series of chemical and mechanical operations [4,5]. Chromium salts (in particular, chromium sulfate) are the most widely used tanning substances today. Hides that have been tanned with chromium salts have a good mechanical resistance, an extraordinary dyeing suitability and a better hydrothermal resistance in comparison with hides treated with plant substances. Chromium salts also have a high rate of penetration into the inter fibrillar spaces of the skin, what represents a saving in terms of production time and a better control of the process [6]. In Brazil, approximately 90% of the leather industry uses chromium in hide processing, resulting in hazardous The conventional tannery methods lead to discharge of solutions with chromium concentrations in the range of 1500–4000 mg/l. The specification for the discharge of chromium containing liquid wastes stipulates a range of 0. 3–2 mg/l [21]. The tanning treatments to produce the wet blue leather yield sludge containing approximately 3% (w/w) of chromium [9]. The method commonly used for this waste disposal presents high operational costs. The production of chromium containing leather wastes (including chrome shavings and tanned splits) in leather industry has been recognized as a real problem for many years [ref]. The chromium leather wastes are generated principally during mechanical treatments carried out after tanning process. In this latter, chromium is bound with the collagen matrix, by cross linking with collagen carboxylic groups through coordinate covalent linkage [6–10]. The final chemical structure of the waste illustrated in Eq. (1), is obtained through two chemical phenomena â€Å"olation and oxolation†. As reported by numerous authors [6–12], the olation phenomenon is observed gradually with the increase of the alkalinity of the tanning medium. The olified complex continues its evolution through time and an acid discharge takes place while the oxygen-chrome coordinate links are transformed into covalent links (oxolation bridges) Eq. The great stability of the collagen–chromium complex produced makes the waste a non-biodegradable and toxic material, due to the chromium and nitrogen content about 4. 3% and 14%, respectively [13,14]. A large amount of waste still goes into land disposal [15]. Incineration in air atmosphere generates other forms of residual pollutant (gaseous emission and ashes) more noxious [16–21] The solid wastes generated _presented in Table 1. from leather industry can be broadly classified as untanned collagenous, tanned collagenous and non-proteinous wastes. Among the tanned collagenous waste, the one resulting from the finishing operation called buffing dust draws the most attention from the public and pollution control authorities. Buffing dust appears in a considerable proportion with processing of raw hides skins _i. e. 2–6 kg per ton of raw hides skins.. Buffing dust is a micro fined solid particulate impregnated with chromium, synthetic fat, oil, tanning agents and dye chemicals. Buffing dust carries about 2. 7% chromium on dry weight basis. This is carcinogenic in nature and it causes clinical problems like respiratory tract ailments w1x, allergic dermatitis, ulcers, perforated nasal septum, kidney malfunctions w2x and lung cancer w3x in humans exposed to the environment containing buffing dust particulates. Hence, it is cautioned by pollution control authorities to collect the buffing dust for safety disposal. The current practice of disposing of buffing dust consists of: _i. incineration in incinerators, _ii. land co-disposal w4–12x. Incineration causes serious air pollution problems because of release of toxic So and No gases w13x, and it has been observed x x that at 8008C, about 40% of Cr_III. is converted into Cr_VI. during the incineration of Cr laden solid waste w14x. The tanning industry is familiar with its being a potentially pollution-intensive industry. The nvironmental impacts from tanneries result from liquid, solid and gaseous waste streams. It must be emphasized that 4million tones of solid waste per year is generated by the global tannery industry [6]. According to the estimation of Sreeram et al. , about 0. 8 million tons of chromium tanned shavings are generated per year globally [7]. The solid wastes from tannery industries may have significant Cr (III) conten t. Even though Cr (III) is viewed as not toxic, possible oxidation of Cr(III) to Cr(VI), due to the acid rains or incineration, threats the environment since Cr(VI) is a more toxic species. Therefore, the conventional disposal methods, land-filling and incineration, cannot be considered a solution to the disposal problem of tanned leather wastes in eco-friendly manner. In literature, there are many studies on the treatment of tanned leather wastes mainly including the extraction of chromium from wastes to re-use in the tanning process [8,9] and isolation of protein fractions [10,11]. The tanning industry generates a huge quantum of liquid and solid wastes while producing finished leather. Tanning is the main process followed in leather manufacturing that protects the leather against some environmental effects such as microbial degradation, heat, sweat or moisture, etc [1]. In tanning industry raw skins/hides are transformed into leather by means of a series of chemical and mechanical operations [2,3]. The tanning process is usually accomplished in three distinct phases, i. e. , preparation of the raw live stock to tan with tanning agents, tanning with mineral/vegetable tanning agents and post tanning to impart colour to finished leather. Basic chromium sulfate is the most widely used tanning agent for converting putrescible collagen fibres into non-putrescible leather matrix. Chrome tanned leathers have improved mechanical resistance, extraordinary dyeing suitability and better hydrothermal resistance in comparison with vegetable tanned leather. The solid wastes generated from leather industry can be broadly classified into untanned collagenous, tanned collagenous and non-proteinaceous wastes. Among the tanned collagenous waste, the one resulting from the finishing operation is called chrome buffing dust (CBD). CBD is a micro fined solid particulate impregnated with chromium, synthetic fat, oil, tanning agents and dye chemicals. About 2–6 kg of CBD is generated as a solid waste per ton of skin/hide processed. CBD contains chromium, it is carcinogenic in nature and it causes clinical problems like respiratory tract ailments, ulcers, perforated nasal septum, kidney malfunction [4] and lung cancer [5] in humans exposed to the environment containing buffing dust particulates. Hence, it is advised by pollution control authorities to collect the CBD for safe disposal. The current methods for disposing buffing dust are land codisposal and thermal incineration. Land co-disposal method is not preferred for the reasons such as overall high pollution emissions and low energy recovery. The leather industry generates a large amount of a Cr-containing solid waste (wet blue leather), with approximately 3% (w/w) of chromium. However, the leather industry has commonly been associated with high pollution due to the bad smell, organic wastes and high water consumption caused during traditional manufacturing processes [2]. Different forms of waste in quality and quantity, which emerge during the transformation of hides and skins into leathers in thousands of leather factories, from primitive to modern all around the world, have negative impacts on the environment. According to the data received from the studies of several researchers, approximately 200 kg of leather is manufactured from 1 tone of wet-salted hide [1-3]. This amount constitutes about 20% of rawhide weight. More than 600 kg of solid waste is generated during the transformation of Raw hide into leather. That is to say, solid wastes containing protein and fat that constitute more than 60% of rawhide weight are disposed to the environment by leather factories without turning them to good use In other words, besides the 30-35m3 waste water disposed to environment during the processing of every 1 ton of rawhide in world leather industry, the data from FAO reveals that approximately 8. 5 million tons of solid waste is generated during the production of 11 million tons of raw hide processed in the world [4]. Solid wastes generated by the leather industry in these stages of processes may be classified as follows: i. astes from untanned hides/skins (trimmings, fleshing wastes) ii. wastes from tanned leather (shaving wastes, buffing dust) iii. wastes from dyed and finished leather (trimmings from leather) Data obtained from research reveals that 80% of solid wastes are generated during pre-tanning processes, while 20% of the wastes are caused by post-tanning processes Due to the bad smell th ey produce during their putrefaction and their harmful chemical content, untanned hide/skin wastes have negative effects on the soil and/or water resources of the environment where they are discharged, in other words n the local plant flora and animal fauna. Therefore, uncontrolled discharge of such wastes should be prevented without taking adequate precautions. Legal arrangements gradually gaining speed all over the world enforce the leather industry to apply innovations in terms of reusing solid wastes generated during leather production processes such as fleshing, shaving, trimming and splits. Solid wastes create a major problem for leather industry in terms of both their variety and quantity. A high amount of reusable waste is generated in the leather industry. It is possible to recycle these products and even use them as raw materials for different industries [7]. The variety and quantity of solid wastes depends on animal species, breeding conditions, slaughterhouse practices, conservation conditions, leather process stages, mechanical operations, qualification of the personnel, and chemicals used in processes. Yet this fact causes uncertainties in reusing the generated wastes.

Ethics: Goldman Sachs Essay

Goldman Sachs, founded by German immigrants, began as a small humble business looking to succeed. Over time their business strategy changed and they entered into ethical and legal issues they had not encountered before. In the late 1920s Goldman Sachs began maliciously investing in companies to drive their demand. They coined this term â€Å"laddering† from overleveraging them selves and putting the market at risk. Their actions created the bubble that burst in the stock market crash of 1929. Furthermore, Goldman Sachs engaged in â€Å"trading huddles†. Only their preferred customers where chose to participate on this unethical schemes, and the same customers were shot changed on financial profit from unprofitable IPO’s shares. It was clear that Goldman Sachs business focus was not customer based but self-based by the mantras that they use to have: â€Å"long-term greedy† and â€Å"Filthy rich by forty.† In 2008 the market once again crashed equally as hard as in 1929 and Goldman Sachs was at the root of the cause. With self-fulfillment and greed in mind, Goldman Sachs used Collateralized Debt Obligations and bet against their clients to increase profitability. Goldman Sachs progressively became more unethical in their dealings, and the SEC took notice. Goldman was accused on two accounts of fraud because of one particular portfolio of securities, named ABACUS, which they dealt with. After analyzing the case and reviewing the unethical actions and alleged accusations against Goldman Sachs, it is clear that Goldman Sachs was operating unethically. They misrepresented, hid information, and engaged in conflicts of interest with their clients. Goldman Sachs took an unfair advantage with their â€Å"toes to the line mentality† on their legal and ethical issues leading the SEC to establish harsher regulations for the banking industry. Goldman Sachs can become more ethical by adopting Warren Buffet’s front page of the newspaper principles. When a firm finds that its employees needs to convince themselves that their work is adding social value, the firm should questions its ethical practices. The recommendation for a firm when they find themselves condoning unethical actions is to be honest with the regulating entity and its clients. It is likely to reward them in the long run despite the immediate consequences. Goldman Sachs Background In 1869 two German immigrants came to the US and founded Goldman Sachs with the humble purpose of being both an originator and a clearinghouse for commercial paper (Jennings, 73). However, the firm started to gradually drift from its initial business strategy set by its founders and started to provide other services and undertook investment strategies. In the late 1920’s Goldman Sachs created investment companies that it would itself invest in to drive up the market demand. As a result, investors started to invest in the company because of the perceived high demand. With the new proceeds, Goldman would borrow more money and create another investment company and repeat the process. As a result of this action, Goldman contributed to the stock market crash in 1929 and, with a similar strategy, the recent financial crisis in 2008 (Jennings, 73). During the Internet bubble in the 1990’s, Goldman engaged in an activity known as laddering. Goldman, as the underwriter of a security, would enter an agreement with its best clients to sell a portion of IPO’s shares at a predetermined price after their initial offering. This led to a misconceived demand in the secondary market of the stock due to the predetermined secondary pricing Goldman had set with some of it’s clients. Furthermore, in the 2000’s, Goldman would sell Collateralized Debt Obligations, for which it had a negative outlook, to its clients and issue trading reports, developed through the existing â€Å"trading huddles† in the firm, to certain preferred customers that was different from the analyst reports that were issued to the public. Its practices has been scrutinized and particularly its â€Å"toes to the line† on legal issues. In most cases, Goldman and its clients are the two main parties involved, and it is the clients that usually end up with the short end of the stick. Goldman’s actions are partly explained by the mantras that they use to have: â€Å"long-term greedy,† and â€Å"Filthy rich by forty.† This paper is relevant for current business leaders because it presents a case where a successful firm has come under great scrutiny due to its unethical actions and questionable practices. Bending the rules and pushing the envelope continuously to be a profitable firm has put Goldman in an unfavorable light in society. The paper will further discuss the ethical and legal issues Goldman has run into through its practices and will provide a general recommendation for how a business can avoid and deal with unethical practices. Analysis of Relevant Legal and Ethical Issues Initial Public Offerings Goldman created a synthetic demand in its IPOs through selling a portion of the IPO shares to its clients at a predetermined price higher then the initial price. This caused the price of the IPO shares to rise due to manufactured demand by Goldman (Jennings, 75). The Securities and Exchange Commission filed a complaint against Goldman alleging that they had violated Rule 101 of Regulation M under the Securities Exchange Act of 1934, which states: â€Å"Rule 101 of Regulation M, among other things, prohibits underwriters, during a restricted period (the five-day period preceding the determinations of IPO prices and prior to the completion of distributions of IPO shares), from directly or indirectly bidding for, purchasing, or attempting to induce any person to bid for or purchase any offered security in the aftermarket† (SEC). Goldman clearly attempted to induce, or induced, certain clients to bid for or purchase offered securities in the aftermarket through its laddering practices, which clearly violates Rule 101 of Regulation M. Goldman agreed to settle with the SEC by paying a fine of $40 million without admitting or denying the allegations (SEC). Some of the unethical practices present in Goldman’s laddering activities were: * Misrepresentation- Goldman inflated the price of the IPO shares consciously through the manufactured demand and the price of the shares were misrepresented. * Lying- Goldman Sachs lied to some of its best clients and had them pay higher price than the initial price under the laddered IPOs. * Violating Rules – Clearly making money from laddering is a violation of rules and therefore Goldman paid a heavy fine when they were caught engaging in this illegal practice Collateralized Debt In order to understand Goldman’s involvement in CDO’s it is pertinent to explain the security. Collateralized debt is simply an Asset-Backed Security, which means that there is a physical asset backing the security under contract. For example, a house serves as collateral for a mortgage and the bank has the right to claim the house in the event that the borrower defaults on the loan. A security is considered any investment contract that gives the owner evidence of indebtedness or business participation. Notes, stock, bonds, debentures, warrants, subscriptions, voting trust certificates, rights to oil, gas, and minerals, and limited partnership interest are all example of securities (Jennings, 728). A Collateralized Debt Obligation is a variety of fixed-income assets that are pooled together to create one security. In 2008, many of these CDOs became completely worthless because they were filled with sub-prime mortgages that defaulted, and Goldman was a big player in the CDO market. ABACUS was one particular CDO deal in which Goldman had created and sold. Fabrice Tourre, a vice president at Goldman Sachs at the time, put together the ABACUS CDO to be sold to clients. Tourre intentionally filled ABACUS with subprime mortgages so that Goldman could take a short position on the security, which means betting against its success, in order to profit. This CDO deal became infamous because the SEC uncovered a few emails written by Tourre. In one of the emails Tourre wrote: â€Å"More and more leverage in the system. The whole building is about to collapse anytime now †¦ Only potential survivor, the fabulous Fab [rice Tourre] †¦ standing in the middle of all these complex, highly leveraged, exotic trades he created without necessarily understanding all of the implication of those monstrosities [sic]!!!† (Quinn) The SEC filed a civil action suit against Goldman and Tourre for their conduct under the ABACUS deal. The SEC’s complaint charged Goldman and Tourre with violations against Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Exchange Act Rule 10b-5 (SEC). Each of the following rule of law states, among other things: â€Å"It shall be unlawful for any person in the offer or sale of any securities †¦ (2) to obtain money or property by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made†¦ â€Å" (SEC) â€Å" POSITION LIMITS —As a means reasonably designed to prevent fraud and manipulation, the Commission shall, by rule or regulation, as necessary or appropriate in the public interest or for the protection of investors, establish limits (including related hedge ex ­ emption provisions) on the size of positions in any security-based swap that may be held by any person.† (SEC) â€Å"It shall be unlawful for any person †¦ (a.) To employ any device, scheme, or artifice to defraud,†¨(b) To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statementsmade, in the light of the circumstances under which they were made, not misleading, †¦Ã¢â‚¬ Ã¢â‚¬ ¨ (Taft Law) Goldman clearly violated Section 17(a) by not including the information that their ABACUS securities were based on poor mortgages. They violated Section 10(b) by taking a large short position in the Abacus deal. Lastly, they violated Rule 10b-5 by omitting material fact of their short position in the security. Furthermore, the SEC prohibits any analyst from issuing reports on securities that run contrary to the analyst’s true beliefs about the securities. Goldman denies betting against clients in an 8 page letter to it shareholder signed by CEO Lloyd Blankfien as well as President Gary Cohn. Goldman claims that they were protecting themselves and Blankfien said, â€Å"†¦Certainly we did not know the future of the housing market† (SEC). Goldman agreed to pay a fine of $550 million and admitted that it failed to disclose vital information in their marketing of ABACUS securities. Goldman’s actions did not reflect honesty, integrity, or responsibility. Some of the ethical issues present in the ABACUS deal are: * Taking unfair advantage – Goldman consciously made poor recommendations to their clients in order to sell the Abacus CDOs so they could make a profit on their short position. * Engaging in Conflict of Interest – Goldman stated: â€Å"We may trade, and have existing position, based on trading ideas before we have discussed those ideas with you†(Jennings 80). Despite this argument, they had a significant incentive to market and sell the securities in order to profit. * Hiding or Divulging information – Goldman used another firm to create the Abacus CDOs in order to distance themselves from the trade conflicts that would arise by shorting the CDO. They also omitted crucial information about the security, which was the knowledge of the amount of high-risk mortgage securities in the Abacus CDO. * Violating Rules- Goldman was charged with securities fraud, as explained by above, and did not look out for the best interest of their clients. Trading Huddles Goldman’s first obstacle with their trading huddles activities came from their Fundamental Strategies Group of analysts. The group consisted of Goldman analysts employed by their Securities Divisions. These groups of desk analysts were not regulated by the SEC rules because they did not involve â€Å"GIR [Global Investment Research Division] equity research analysts.† The SEC have strict guidelines that, â€Å"prohibits an analyst from issuing reports on securities that run contrary to the analyst’s true beliefs about the securities.† (Craig) Goldman did not break any statutory laws with the Fundamental Strategies Group since they were not covered in the SEC ruling. From the uprising, Goldman’s executives sent an email to all their clients, explaining their â€Å"Trading Ideas† and advice. The email was meant to elucidate the firm and public’s â€Å"conflict of interest† policy. In the message, Goldman stated, â€Å"You should not consider Trading Ideas as objective or independent research or as investment advice. When we discuss Trading Ideas with you, we will not be acting as your advisor (including, without limitation, in relation to investment, accounting, tax or legal matters) and the provision of Trading Ideas to you will not give rise to any fiduciary or equitable duties on our part† (Sorkin 1). In the case of Goldman vs. Common Wealth of Massachusetts, the court ruled, â€Å"Goldman failed to reasonably supervise GIR equity analysts’ communications to prevent and detect dissemination by GIR equity analysts of certain unpublished short term trading ideas† (SEC) and were held accountable to Section 204 (a)(2)(J) of the Act, which in part states that: â€Å"The secretary may by order†¦. deny, suspend, or revoke, any registration †¦ if he finds (1) that the order is the public interest and (2) that the applicant or registrant (J) has failed reasonably to supervise agents, investment adviser representatives or other employees to assure compliance with this chapter† (SEC). Goldman failed to supervise its agents to guarantee compliance with the act. The court ruled that Goldman must have a policy that allows a GIR equity research analyst to identify an unpublished report and follow its publication through more than 14 persons. Furthermore, Goldman will be required to disclose in their Terms of Use Agreement that the amount of GIR equity research report varies from client to client (Stempel). â€Å"Goldman agreed to pay a fine of $10 million and stop giving favored clients trading ideas developed at internal gatherings known as â€Å"trading huddles†Ã¢â‚¬  (Stempel). In addition, they were charged with not dealing in with honesty with all clients and took advantage over others, known as fair dealing with clients. While all companies try to balance on the line of pursuing profits and maintaining a moral conduct, Goldman Sachs was unable to keep their balance. After the reports of intentionally avoiding regulation from SEC Regulation AC, requiring equity research analysts to certify that their issued reports represents their actual views (SEC), the company crossed ethical boundaries. With their Fundamental Strategies Group, Goldman as a whole company condoned unethical action. Instead of following the regulation of the SEC they went around it. Some of the ethical issues present in the case were: * Taking unfair advantage – one part of the firm issued equity research reports to the public and another part of the firm did also engage in equity research but came to a different conclusion. However, the latter report was only issued to certain clients. By releasing one view on a subject and taking another position themselves, thereby taking unfair advantage. * Violating rules – even though their Fundamental Strategies Group were not violating any laws or regulation, they failed to follow the SEC Regulation AC Recommendation and Conclusion The cases mentioned above are only a few of the instances where Goldman has been scrutinized by government entities and the public. Its continuous practice of â€Å"toes to the line† on legal issues has many times resulted in lawsuits against the firm. As we can see, the legal issues they are pushing are unethical, however, they are not violating those laws. Instead, they are charged with other violations that result from operating at the line of illegal practices. Their reputation took a hit due to multiple SEC allegations and fines. To avoid these ethical situations Goldman Sachs should use the ethical principles that are taught. For example, they should have used Warren Buffet’s front page of the newspaper test in the case with the IPOs. Goldman Sachs should ask itself if they would be indifferent of their actions if the public would know that they intentionally manufactured demand for their IPOs. A partial reason for their unethical conduct was due to rationalizing; when they were confronted about their actions they proceeded by rationalizing and labeling their actions in order to avoid the ethical dilemmas. In the ABACUS case, Goldman stated that their clients are â€Å"qualified† and â€Å"sophisticated† enough to make market risk decisions. They most likely rationalized their actions by saying that the system is unfair and â€Å"if we don’t do it, someone else will†. In their case with trading huddles, it was a practice carried out by other firms, however, not to the same degree as Goldman. They waited until the lawyers told them it was wrong and rationalized by thinking â€Å"It’s a gray area†. Goldman Sachs’s pushed the limit of both the letter of the law, and the spirit of the law when dealing with its clients. Goldman’s history of brushing past ethical decisions have created many problems for the firm in the past years. It is clear that pursuing this strategy has not been to their benefit. A business should not have to argue how its actions add social value; it should be clear by the actions themselves. Therefore, if a business finds itself engaging in activities that do not pass Warrant Buffet’s Front of the Newspaper test it should reconsider its actions and business model. A red flag should rise when employees convince themselves that they are adding social value, as in the case with Tourre, or if employees feel any discomfort with their actions. If a company finds itself condoning unethical actions and violating the law, the best solution is to make an action plan on how to present their violations to the regulating government entity most truthfully and inform their clients of the unethical conduct with an apology. Despite that these measures might have a negative impact on the firm, it is highly likely be a short-term effect. The longstanding trust built up from their honesty and confrontation of the unethical actions could be beneficial to the firm’s future reputation. Work Cited Craig, Susanne. â€Å"Goldman’s Trading Tips Reward Its Biggest Clients.† The Wall Street Journal. 24 Aug. 2009. Web. 23 Mar. 2012. . â€Å"Goldman Sachs & Co.: Lit. Rel. No. 19051 / JANUARY 25, 2005.† U.S. Securities and Exchange Commission (Home Page). Web. 28 Mar. 2012. . Quinn, James. â€Å"Goldman Sachs, Fabrice Tourre and the Complex Abacus of Toxic Mortgages.† The Telegraph. Telegraph Media Group, 16 Apr. 2010. Web. 25 Mar. 2012. . â€Å"Rule 10b-5 — Employment of Manipulative and Deceptive Devices.† Law School  » University of Cincinnati College of Law. Web. 28 Mar. 2012. . â€Å"SEC Charges Goldman Sachs With Fraud in Structuring and Marketing of CDO Tied to Subprime Mortgages.† ; 2010-59; April 16, 2010. Web. 28 Mar. 2012. . Sorkin, Andrew. â€Å"DealBook.† Mergers, Acquisitions, Venture Capital, Hedge Funds. 12 Jan. 2010. Web. 28 Mar. 2012. . â€Å"Statement by SEC Chairman: Proposal of Regulation AC.† Statement by SEC Chairman: Proposal of Regulation AC (Harvey L. Pitt). Web. 28 Mar. 2012. . Stempel, Jo nathan. â€Å"Goldman Fined $10 Million, Agrees to Stop Trading Huddles.† Reuters. Thomson Reuters, 09 June 2011. Web. 28 Mar. 2012. .