Krispy Kreme Doughnuts

The following are the major problems KID were facing: It mistakenly tied up the profit, the number of stores, and the sales of machines and ingredients together. Moreover, it was too aggressive. It was hungry to show its ‘perfect performances' to investors by beautifying their book value. From non-financial perspective, there are serious drawbacks behind the expanding, and the growing numbers of stores made the K Doughnuts ‘everywhere', which made customers lost their feelings of freshness of It.As the case mentioned, KID raised Its purchase price on the Michigan franchise In order to get the Interest of loans back and KID recorded the interest under as an immediate income, profit. In the meanwhile, it booked the cost of buyback the franchise and the payment to the executive as an intangible asset, which the company did not amortize. In my opinion, the interest should be recorded under equity and the cost and payment could be booked as properties, cost, or at least they n eed to be amortized.KID got the interest from the franchise and successfully raised Its revenue to attract Investors but it in fact sacrificed Its hardliners' benefits by offering an over value purchasing prize. Moreover, keeping the previous executive till the trade closed and giving a huge amount of compensation makes me wonder if there was an inside trade. Exhibit 1, 2& 3 shows the unhealthy growth of KID. Compared to the growth of total revenues in the whole company, revenue that each stores contributed (total revenue/ total factory stores) was not increasing accordingly.On the contrary, the expansion of stores brought the corporation high expenses and venture. The cost of opening a new store, aqualung It and close It was paid in vain. The number of stores grew too quickly. The exhibit also shows the abnormal high value of stock-price patterns compared to the S 500 Composite Index but it was finally down to the earth' in the end of 2004 influenced by the divesting of Montana Mil ls and closing down of 3 underperformed stores.Viewing the company structure, revenues were generated from on-premises retail sales at company-owned stores (accounting for 27% of revenues); off-premises sales to grocery and convenience stores (40%); manufacturing and distribution of product mix and machinery (29%1 and franchisee loyalties and fees (4%). Actually, the ideal revenue resources of this kind of corporation should mainly come from the franchisee royalties and fees but not from distribution of mix and machine. The company supposed to boost the sales of its main product: doughnuts but not to expansion blindly.Once its doughnuts become popular and profitable, people will be willing to get In to the business and pay KID franchisee royalties and fees. However, the realistic was many units were losing money off-premises, and franchisees were not motivated to grow their sales, which fleets a governance problem in this corporate that the company itself did not has mutual benefits with its franchisees. The stock price of KID was fluctuated severely in recent years and the suggestions of buy, sell or hold from analysts were closely related to the stock price and scandal. ND January 2005, when the stock price was at its peak, at 22. 51 dollars per share (first under estimate), at 15. 71 dollars per share (divested Montana Mills) and at less than 10 dollars per share (credit-facility defaulted). Crispy Seeker's share price was $40. 63 right after its PIP, giving the firm a market capitalization of nearly $500 lions. The stock price might be over valued at first because KID was so popular at the time and therefore the public drove up the price. After a series of problem, the company restated its financial statements for the PAYOFF, which reduced pretax income by between $6. Million and $8. 1 million. This movement sharply decreased the tax expenses of the company, which is proved by items of income before income taxes, provision for income taxes and income taxes refundable in Exhibit 2. It is strange that given a large amount of amortized intangible asset, the company still ad a high level of tax shield as shows in the depreciation and amortization expenses from Exhibit 1 . Thus, the company might be showing a higher profit for investors but lower income for tax purposes, changing the treatment of amortization between the two.This practice violated the requests and rules in GAP. Knowing the accounting tricks that KID was playing, people can approximately calculate its book value by amortizing its asset, increasing its cost and tax, which leads to a deduction of profit. Influenced by the divesting of Montana Mills, the interest expenses, income tax refundable, long-term notes receivable, Joint venture ND intangible in 2004 increased dramatically and the share price dipped compared to them in 2003 as we can see from the Exhibit 1&2.However, it is odd that the interest expense raised so much when then the long-term debt decreased. Furthermore , from the Debit-to- equity ratio in Exhibit 7, we can see that the level of debt and financial distress went down in 2004. Therefore, guess is that the company might use the total long-term liabilities in calculating the interest expenses in order to have more tax benefits. As its known to all that the higher the ratio of liquidity, average, activity and profitability are the better the company's situation is in.Compared to other quick-service restaurants in Exhibits, only the receivables turnover and inventory turnover of KID was slightly lower than the average, which means the corporation was not performing absolutely badly. And in Exhibit 9, when comparing to average restaurant, Kid's cash & equivalents, notes payable, long-term debt, income taxes payable, all other current were much more lower and the trade receivables, intangibles, deferred taxes and shareholder's equity were higher than the common stores.Unexpectedly, the net income of KID on May 9, 2004 was negative 24,458, but it went up to positive 5,763 three months later on August 1, 2004. How could the situation be turned around in such a short time? As a matter of fact, an over-valued stock price will eventually go down to what it supposed to be in a high efficient market. This is one of the reasons that the bubble of the stock broke and the price slumped. Along with the revelation about the company's franchise accounting practices and the wrong operating methods, they explained the devalued of its stock.I think the doughnuts company should not rely heir profit on the sales of high margin machines but to make its actual product (signature doughnuts) better since it contributed around 60% to the total sales. In the meanwhile, KID should inherit its factory style', which provides newly baked fresh healthy trend among people influenced the sales of its products, improve their ingredients or explore new recipes are necessary. Furthermore, through research and sufficient preparation are important befo re exploring overseas market or expansion. KID already had its brand, goodwill and own steady customer group, it still has a chance to fight back.

Genetics of Obesity Essay

According to the WHO (2010), childhood obesity is one of the most serious public health challenges of the 21st century. Globally, in 2010 the number of overweight children under the age of 5 is estimated to be over 42 million (WHO, 2010). Obesity can be defined in a number of ways, e.g. by population means, BMI and waist circumference (Odgen, 2012). And according to Kleiser et al (2009), obesity may have several short-term consequences (e.g. social discrimination, lower quality of life, increased cardiovascular risk factors, diseases like asthma) and long-term consequences were obesity is likely to persist into adulthood, were individuals are more likely to develop noncommunicable diseases e.g. diabetes and cardiovascular disease at a much younger age. It is due to this that a great body of research within health psychology has focused on not only the consequences of obesity but also understanding the causes of obesity, both genetic and environmental – this is what this essay will explore†¦. Genetics There have been several theories put forward by research to best explain the causes obesity and one major potential causes is genetics. Maffeis et al (1998) found that obesity in parents was the strongest predictor of childhood obesity, regardless of diet or level of activity. Furthermore recent research has found support for this claim. Moreover, Wardle et al., (2001, 2006) reported that, controlling for other environmental factors, children with obese parents preferred fatty foods, had less liking for vegetables, were more likely to overeat had a higher preference for sedentary activities than did children of normal weight parents. This is further strengthened by more recent research by Kleiser et al (2009) who found that the strongest determinant of obesity was obesity in parents. Despite the evidence for this relationship, Odgen (2012) states that parents and children not only share genetic constitution but also share very similar environments, therefore this relationship between child and parental obesity could be contributed to either factor. However, according to Barlow (2013) twin studies have also have clearly demonstrated a genetic influence on body weight, therefore strengthening the argument for the role of genetics in obesity. For instance studies have found 25 – 40 % of BMI is heritable and identical twins raised apart have been found to have a correlation of .7,  only slightly lower than that of twins raised together (Stunkard et al, 1990). Moreover adoption studies have also provided evidence for a genetic component in obesity, Skunkard (1986) found a strong relationship between the weight class of the adoptee and their biological parents and interestingly found no relationship with their adoptee parents’ weight class. Research has also stated that factors such as metabolic rate (Bouchard, 1990) and appetite regulation may also have a role to play in causing obesity. Research in terms of metabolic rate has suggested a low resting metabolic rate is a risk factor for weight gain (Tataranni, 2003), but in fact there is little research to support this. In particular there is no evidence to suggest that overweight people tend to have slightly higher metabolic rates than thin people of a similar height (Garrow, 1987; Odgen, 2012). A genetic predisposition may also be related to appetite control. For instance, the discovery of leptin, ghrelin, adiponectin, and other hormones that inï ¬â€šuence appetite, satiety, and fat distribution provides insight into metabolic mechanisms for physiological risk of obesity (Maes et al, 1997; Gale et al, 2004). Research, although seen to be in its infancy has yielded support, e.g. Farooqi et al (1999) injected 2 participants daily with leptin, which resulted in decreased food uptake and weight loss at a rate of 1-2kg per month. According to Odgen (2012) there is strong evidence for a genetic basis to obesity, but it is how this genetic bias expresses itself that remains unclear, due to the fact research on lowered metabolic rate has been widely refuted and the genetics of appetite control remain in its infancy. Furthermore, genetic studies are not without their criticisms. For instance small sample size, zygosity needs to be confirmed and again the role of environmental factors cannot be ignored. Behaviour & Environmental factors Therefore in light of the above criticisms research has begun to more fully examine the extent to which an individual’s behaviour and/or environment can influence the development of obesity. As Barlow (2013) states that at a population level, the increase in prevalence is too rapid to be explained by a genetic shift; rather, it must result from changes in eating and physical activity behaviours that have shifted. A recent study by Kileser (2009) found independently of other factors, a positive association was observed between obesity and low SES, migration background (up to age 13), parental overweight, high weight gain during pregnancy (when the mother is of normal weight), maternal smoking during pregnancy, high birth weight, and high media consumption, as well as a negative association with sleep duration for 3- to 10-year olds.

Acid in Soda

Experiment 5 The Quantitative Determination of an Acid in Carbonated Beverages Thomas Canfield Kelly Caddell Chemistry 144B T. A. Brock Marvin 15 October 2012 Methods: Two sodas containing citric acid were investigated in this experiment. Each soda was titrated using one of the two experimental methods. These methods are the traditional titration and the modern titration. Carbonic acid was already removed from the soda by boiling it. Both of the two different titration methods use the same basic set up. Firstly, the buret must be cleaned thoroughly with tap water. While cleaning the buret, it is also checked to make sure there are no leaks.The ring stand is then set up with a buret clamp and the cleaned buret placed in it. Then the buret is filled with 5-10mL of sodium hydroxide, M . 0466 NaOH, three times and emptied after each time to completely rinse the buret. The buret is now filled will NaOH until it reads at the 0. 00mL mark on the buret. The initial volume of NaOH in the bure t is then recorded into lab books for future reference. The soda must now be readied for titration. Both sodas require the same set up. The correct amount of soda, depending on which titration, is poured into a 100mL graduated cylinder.This measurement had to be within 5% deviation of the given value to be legitimate. Next, after the initial volume of the soda was recorded for future calculations, distilled water was added up to the 100mL mark on the cylinder. The mixed solution was then put into a 250 mL Erlenmeyer flask. That is as far as the similarities between the two titration methods go. In order to prepare the first soda for the traditional titration, five drops of phenolphthalein dye are added to the soda water solution in the flask. Next, the tip of the buret was placed over top of the soda solution.NaOH solution was added at approximately 2mL increments. The dye will create a pink color that disappears when mixed. When the titration did not disappear, NaOH was no longer a dded. The final volume of NaOH in the buret was recorded. 4mL was then subtracted from this number and the number received from that was the volume of NaOH that was quickly added each time for a more accurate titration. Another trial was then prepared by refilling the buret to 0. 00mL and the flask was rinsed out. A new soda solution was added to the flask by following the previous instructions.This time the volume of NaOH that could be quickly added was added to the soda solution. After this volume was added, drops of NaOH were then added to the solution continuously until the solution once again remained pink. The volume of NaOH was recorded in the notebook. This procedure for the traditional and accurate titration was repeated three additional times for a total of four accurate titrations. All data was recorded. The ratio of NaOH to citric acid was then calculated in the notebook for each of the four accurate titrations. Using the volume of NaOH and the molarity of NaOH, the numb er of moles was found.Then using the stoichiometry of the reaction, the number of moles of citric acid was found for each trial. The mean and standard deviation was then calculated for the molarity of citric acid. The modern titration used a pH electrode and the LabQuest device to record accurate titrations. After the LabQuest device was set up correctly, the soda and the NaOH were prepared as in the traditional titration experiment except the soda was placed in a beaker instead of a flask. Using a utility clamp and a stand, the pH electrode was suspended just above the bottom of the beaker.Then the magnetic stir bar was added to stir the soda solution evenly. For these titrations the volume of the NaOH was entered into the LabQuest device during the titration. NaOH was added to the solution until the pH reached 6. 0. NaOH was then added very carefully, drops at a time, until the pH reached about 10. 0. During the titration, the volume of NaOH was entered into the LabQuest device ev ery time the pH level raised 0. 2 pH. The device stores the entered data and records it on a chart. This process of titration was repeated two more times for a total of three accurate titrations.The data stored in the device was then transferred to a computer and saved. The charts and data collected can be found on the last page. The volume of NaOH used to reach the equivalence point was calculated for each of the three titrations. The equivalence point was found graphically. Using the volume of NaOH and the molarity of NaOH, the moles of NaOH were calculated. Using the volume of the soda used, the molarity of citric acid was found. Then the mean and standard deviation of the molarity of citric acid was calculated. Results: In the traditional titration, the recorded data is shown in the following chart: Table 1: Volume of soda| Volume of NaOH| RatioNaOH:soda| MolesNaOH| MolesCitric acid| MolarityCitric acid| Titration1| 40. 00mL| 19. 00mL| . 475| 8. 85* 10^-4| 2. 95* 10^-4| 7. 375*1 0^-3| Titration2| 40. 00mL| 19. 00mL| . 466| 8. 85* 10^-4| 2. 95* 10^-4| 7. 23*10^-3| Titration3| 40. 80mL| 19. 00mL| . 469| 8. 85* 10^-4| 2. 95* 10^-4| 7. 28*10^-3| Titration4| 40. 10mL| 19. 02mL| . 474| 8. 86* 10^-4| 2. 95* 10^-4| 7. 36*10^-3| From the data in Table 1, the mean and standard deviation was calculated for the molarity of citric acid: Mean molarity of citric acid: 7. 31*10^-3 Standard Deviation: 6. 837*10^-5In the modern titration, the recorded data is shown for the three trials in the tables below: Table 2: Table 3:Table 4: The data in tables 2-4 was entered separately into three different graphs shown below: Graph 1: Trial 1 Graph 1b: Derivative of graph 1 shown Graph 2: Trail 2 Graph 3: Trial 3 From tables 2-4 and analyzing graphs 1-3, the volume of NaOH used to reach the Equivalence point was calculated. Trial 1: 11. 86mL Trial 2: 11. 28mL Trial 3: 11. 40mL Using the volume of NaOH and the concentration of NaOH (. 0466M) the molarity of NaOH was calculated to four significant figures: Trial 1: 5. 527*10^-4Trial 2: 5. 257*10^-4 Trial 3: 5. 312*10^-4 Using the stoichiometry of the reaction between citric acid and sodium hydroxide, the moles of citric acid was found to four significant figures: Trial 1: 1. 842*10^-4 Trial 2: 1. 752*10^-4 Trial 3: 1. 771*10^-4 From the moles of citric acid, the molarity was then calculated to four significant figures: Trial 1: 9. 211*10^-3 Trial 2: 8. 761*10^-3 Trial 3: 8. 854*10^-3 The mean and standard deviation were then calculated for the moles of citric acid in the sample of soda used again to four significant figures: Mean: 8. 942*10^-3 Standard Deviation: 2. 376*10^-4

A profile of a country (other than the United States) describing its Essay

A profile of a country (other than the United States) describing its domestic intitutions and how those affect its relations with the rest of the world - Essay Example In 1916, there came into existence an acknowledgement by the British with Qasim Al-Thani recognizing the family as the rulers. In 1971, Qatar broke of the agreement after adopting constitutional independence. The country’s official language is Arabic but other languages such as English, Urdu, and Farsi are also spoken. The use of Arabic is in an effort to reinforce the country’s Islamic identity (Fromherz, 2012). The country has embodied the use of the word Khaleeji to differentiate golf states citizens from N. Africa and Levantine Arabs. The main religion that the country has taken up is Islam (specifically Wahhabism). However, in spite of the high upholding of Islam, the level of activity as regards Islam has been rated as medium. The country notably, has very few incidences that have been reported relating to anti-western terrorist activity. Qatar is ruled by an Emir and is subsequently and Emirate. This type of government is common only in Middle Eastern countries and has been linked to their practice of Islam. Since Qatar attained independence, the Al-Thani family has ruled the country. The cabinet ministers as well as official in high-ranking positions in Qatari government are from the Al-Thani family. However, a few appointments that are of a high level capacity have occurred outside the family. Notably though, the occurrence in question only comes about as a rarity (Gray, 2013). In 1998, Qatar went on to hold its very first open elections. The elections were centered on the election of a municipal council. There was a very large voter turn up as the historical event attracted a lot of attention. The election also attracted a large candidacy inclusive of women. However, no member of the female candidacy populace was elected; an illustration of the regard for female leadership and equality in Qatar at the time. The m unicipal council is meant to represent issues being faced in residential sectors to the relevant t government bodies. As a

The Jazz Festival of Atlanta Essay Example | Topics and Well Written Essays - 1000 words

The Jazz Festival of Atlanta - Essay Example Atlanta is the most populous city and the capital city of the state of Georgia in the United States of America. Atlanta is considered to be the ninth most populous metropolitan city in the United States. As of July 2006, the city of Atlanta had a population of 486,411 and a metropolitan population of 5,138,223, making it the nation's ninth-largest metro area. Residents of the city are known as Atlantans. After a little research about the festival, I came to know that the Jazz Festival is a 31-day schedule of events featuring internationally renowned jazz artists and activities throughout the Metro Atlanta area culminating in the three day outdoor music event in Atlanta's Piedmont Park (Events Management). As I was present at the festival, I saw performers at the Atlanta Jazz Festival included the Herbier Hancock Quintet, The Pete Escovedo Orchestra Sheila E., Laws Family and many more. In addition to the main stage, it was given in the events list that there will be a "Future of Jazz" artist's stage too at the event (Johnson). The Memorial Day Weekend festival features 3 performance stages - Main Stage, Smooth Jazz Stage and a Home Grown Stage. There were activities for the entire family including artist vendors, festival food options, jazz education seminars and a special Kids' Zone featuring children's activities (Matouk). It was a real thing to enjoy and I'm sure one would definitely be delighted to be a part of this event. The festival was organized at the Woodruff Park in Atlanta, Georgia (Office of Cultural Affairs, 2008). I saw the featuring of Atlanta based jazz artists performing during the 31 days in May and they were culminated with family fun and music in Woodruff Park. The Atlanta Jazz Festival is regarded as one of the Country's largest free jazz festivals.Everybody in our group enjoyed the presence at the festival. The festival was basically formed to celebrate the rich cultural heritage of our city and has blossomed into a celebration of our nation's contribution to human expression (Office of Cultural Affairs, 2008). The festival is believed to be an annual music showcase that celebrates jazz legends and up-and-coming jazz greats in venues throughout metro Atlanta during the month of May and culminates in a 3-day music festival on Memorial Day Weekend. According to the organizers of the festival, it is believed that the main aim of celebrating the festival is to expose and entertain a diverse audience of jazz aficionados, young jazz enthusiasts and musical artists to the rich heritage and variety of jazz as an authentic form of traditional music. The guide who was assisting us and taking us through the entire even said that, the Atlanta Jazz Festival brought legendary performers, up -coming talent, artists, vendors and Atlanta's finest restaurants, as well as youth ensembles and high school performers, together for one of the largest jazz festivities in the country (Franklin, 2008). People like us, who take part in the festival enjoyed the renowned sounds of live jazz nightly at bars and nightclubs throughout the metro Atlanta area including; Churchill Grounds, Apache Caf, Eye Drum Art & Music Gallery, Funk Jazz Caf and more for the entire month.

Marketing Report Case Study Example | Topics and Well Written Essays - 2250 words

Marketing Report - Case Study Example Support 11 D. Conclusion 11 References 13 I. Analysis A. Marketing Challenge The marketing challenge is to grow revenues and to find the perfect marketing mix for the new product to be launched in June, to aid in the achievement of the revenue growth targets for Mackenzie and Marr Guitars (Finnbogason, 2013). B. Internal Analysis B.1. Finance The company is working on a tight cash flow situation, with some budgetary constraints emanating from that cash flow restriction. While they pay suppliers cash, deliveries for orders only occur about 90 days after the payment. This has implications on the ability of the company to convert capital to revenues, and has a bearing too on the ability of the firm to generate cash flow from inventories. Inventories take time to reach the trade, and this compounds the problem of not being able to turnaround capital into cash. All these things besides, the company is still open to increasing the promotions budget from $1,000 to $4,000, and though this is miniscule in comparison to the overall sales target of $1 million dollars for the whole year, from a cash flow perspective this can be a significant amount especially if the revenue targets on a monthly basis are not met, and the margins cannot justify the added promotional expense (Finnbogason, 2013). B.2. ... On the other hand, where the company lacks muscle in terms of promotions budgets, it makes up for with word of mouth and focusing on the price and the product attributes of the marketing mix for its guitar lines. The main positioning being high quality and low price, this positioning strategy is complemented well by its chosen promotions, place and general advertising strategies (Finnbogason, 2013). B.3. Operations One can glean from the way the company is set up that the online presence handles orders processing including payments processing, while orders fulfillment is done via third party logistics and fulfillment services. Product manufacturing meanwhile is outsourced to suppliers in China. That supplier has enough capacity to be able to run the projected volume sales of 100 guitars per month of Mackenzie and Marr Guitars, but may have problems doing so if any new customers engage them. That aside, the rest of the operations is concentrated on marketing, as well as product design , which are basically handled by the CEO John Marr. The other partner, Jonathan Mackenzie, is understood to have a hands off role in daily operations, leaving that to John. One can see that this operations model leaves the physical handling of the processed goods to third parties, from manufacturing to orders fulfillment, leaving the core operational functions of processing orders and payments, doing the promotions and marketing, doing the strategy work and doing product design work for new launches as the core operational competencies of the company itself (Finnbogason, 2013). B.4. Human Resources Outside of the partners, there are no significant personnel in the organization. All of the third party

Alzheimer's Disease Essay Example | Topics and Well Written Essays - 1250 words

Alzheimer's Disease - Essay Example It is a disease that occurs mostly in older people and adversely affects various parts of the brain, which subsequently results in a loss of memory, thought and speech. Some of which have been provided as follows. Alzheimer 's disease is a form of dementia that is, "associated with the breakdown of the nervous tissue in the brain." (http://bse.airtime.co.uk/defb.htm) According to the ALS Therapy Development Foundation, Alzheimer's disease is, "a form of degenerative brain disease resulting in progressive mental deterioration with disorientation, memory disturbance and confusion. It leads to progressive dementia, often accompanied by dysphasia and/or dysphasia. The condition may also give rise ultimately to spastic weakness and paralysis of the limbs, epilepsy and other variable neurological signs." (http://www.als.net/als101/glossary.asp) The online site of the Medaus Pharmacy states that only in a few cases does Alzheimer's exist before the age of fifty. This disease results in a complete eventual breakdown of speech-patterns and results in disorientation and apathy in the patient. Other symptoms include the loss of intelligence, memory, judgment and the ability to think abstractly. In addition, diverse changes in the personality and behavior of the patient can often be seen as well. (http://www.medaus.com/p/147.html) It is natural for a person with Alzheimer's to remember things that may have happened years ago clearly and to forget those of the present. Any form of dementia (be it Alzheimer's or otherwise) does not occur all of a sudden; rather it is a slow process that often occurs over the course of months or years. (http://www.bbc.co.uk/health/) The number of people with Alzheimer's disease is likely to increase to 34 million by the year 2050. 350,000 new cases of the disease are diagnosed annually and the approximately 50,000 patients die from the disease each year. It has been found in literature that life expectancy is directly proportional to Alzheimer's. In other words in every country where the life expectancy its citizens has increased (this would mostly include the developed nations around the world) so has the prevalence of Alzheimer's. (http://www.ahaf.org/alzdis/about/adabout.htm) In addition, it has been found that, "women have a slightly greater chance of developing Alzheimer's than men do at the same age". (http://www.nhsdirect.nhs.uk/articles/article.aspxarticleId=14) There are basically two types of Alzheimer's disease; the early onset and the late onset. The early onset is the type of Alzheimer's that occurs before the age of 60. Though is not very common it is highly progressive and greatly degenerative. (http://www.nlm.nih.gov/medlineplus/ency/article/000760.htm) "To function properly, the brain must have a minimum number of healthy cells. In Alzheimer's disease brain cells progressively die. If the number of neurons is also suddenly reduced, the patient's mental state may deteriorate abruptly. Several conditions may be responsible for the loss of neurons, including: strokes, subdural hematomas and space-occupying lesions inside the skull." (Handy et al, 1998, pp.105) Though the symptoms of each patient are unique, there are some basic indicators, which are likely to be experienced by most patients. These are given as follows, (http://www.bbc.co.uk/health/conditions/mental_health/disorders_dementia.shtml) Lack of concentration, Confusion about time & place(s), Negligence of one's own self, A

Machiavelli's view of human nature in The Prince Essay

Machiavelli's view of human nature in The Prince - Essay Example Machiavelli's view of human nature in The Prince In chapter 15, Machiavelli writes, â€Å"men†¦and princes†¦, are remarkable for some of those qualities which bring them either blame of praise† (Machiavelli, 1961). The princes show those characters that will not deprive him of his state. In this case, men follow what brings them benefit even if it is a vice – â€Å"it will be found that something which looks like a virtue, if followed, would be his ruin; whilst something else, which looks like a vice, yet followed brings him security and prosperity.† Being in the highest position of the land, and with the highest authority, the prince should put in effect policies that will serve his best interest (Machiavelli, 1961). This shows that Machiavelli supported any action of princes that will give them satisfaction, even if it will hurt the citizens. He believed that the prince’s followers are sometimes unreliable, and the prince might lose their loyalty. This is indicated in chapter 11: â€Å"For such a prince cannot rely upon what he observes in quiet times, when citizens have need of the state, because then everyone agrees with him; they all promise, and when death is far distant they all wish to die for him; but in troubled times, when the state has need of its citizens, then he finds but few† (Machiavelli, 1961). The prince should therefore ensure that at every moment citizens are in need of the state, and they will always be faithful to him.

End of geography Assignment Example | Topics and Well Written Essays - 1750 words

End of geography - Assignment Example The disappearance of national barriers that divide the world and the increasing interconnectedness open a wide range of opportunities for the information exchange. In all these processes the language plays one of the most important roles. In this paper, we consider borrowings from English language in the Japanese and also we critically evaluate its impact on society of Japan. In the mosern world the international language is English and in many countries it is considered to be (officially or not) the second language. This phenomenon makes it possible to say that the nations unite in a single society, speaking the same language. Does this mean that we are witnessing "the end of geography"? The aim of this paper is to critically evaluate the proposition that globalization is leading to the end of geography using the example of Japanese language and the English borrowings in it. During the work over this paper we analyze and evaluate that the phenomenon of the ‘end of geography’ is not so vivid and the boundaries between countries are slightly blurred but not completely washed away, so geography remains vital to its study. Ulrich Beck, the research worker who studies globalization, argues that: "Globalization affects mainly the social micro-level, structured on the genesis of certain forms of cultural, socio-cultural systems and the genesis of ethnic and cultural systems." (Beck, 1999) The most successful model developed in relation to globalization, belongs to Japan. Throughout most of its history, Japan has shaped their culture on the basis of borrowing religious doctrines of Buddhism, Confucian ethical and religious system, arts and crafts from China, however, since the Meiji Restoration, the country has become, so to say, westernized very rapidly. The peak of this Westernization of Japan accounts for the years of American military

Women and society Assignment Example | Topics and Well Written Essays - 250 words - 1

Women and society - Assignment Example In Perspectives of Native American Women on Race and Gender, I believe that there is a huge need to educate the public on the history of the Black women (Kirk & Okazawa-Rey 101-113). It is evident that the Black women were not favored by their culture and past; thus, placing them at a lower rank than the White women. I am also of the opinion that with exposure and enlightenment the Native American will present double development. It is also evident gender bias has simply been derived from societal perceptions that do not have any valid reasons. In A Question of Class, I concur with the author that lots of people of a similar class often share their sentiments (Kirk & Okazawa-Rey 123-130). The poor are ashamed of their life and will stick to similar persons such as Dorothy did in her childhood (Kirk & Okazawa-Rey 123-4). I also agree that most people make endless attempts to shift from their lifestyles to others. This explains why the poor are ashamed of their lives and will even attempt to escape their real lifestyles. Some even assume their current statuses to avoid having a real glimpse of their real

Developing country Essay Example for Free

Developing country Essay Why we want to let our knowledge to someone else unknown to us. Why we want to make our nation into a question mark. Work for our nation work for us let our future generation be a developed nation. We are ranking in a forest place both in economy and in developing. So brain is our so why we want to drain to others. So get into it to work for our nation. Jai hind. Rate this: +3 -2 The concept of ‘brain drain’ is of a recent one that has ever strongly emerged since the last few decades. The phrase ‘brain drain’ refers to the increasing tendency of the young, energetic, capable and talented youth of a country to migrate to another country in search of their fortune — rather better fortune. They forsake their motherland for they seek better opportunities in other countries. This has become a characteristic more of the intelligentsia of the nation—the doctors, engineers, scientists, M.B.A’s, C.As, lawyers and other professionals. Investment in education in a developing country may not lead to faster economic growth if a large number of its highly educated people leave the country. The United Nations Development Program (UNDP) estimates that India loses $2 billion a year because of the emigration of computer experts to the U.S.[45] Indian students going abroad for their higher studies costs India a foreign exchange outflow of $10 billion annually. Our country is gradually being deprived of its intellectual capacity. Brain drain is also regarded as an economic cost, since emigrants usually take with them the fraction of value of their training sponsored by the government. Our nation, if this continues, will be rendered intellectually impoverished and impotent. This, in turn, is leading to a great loss of National wealth. But, have we ever thought of the reasons behind such a great movement of brain outside the country? Like always, we prefer to harp upon the problems rather than find a solution. Why does India, a great and domineering nation in Asia, have to face such a grave and serious problem? Why is our youth allured by the stranger meadows and horizons? Why do they prefer to work hard and be honest there, instead of here?The first answer to this problem is that we have.. no plans to return to India. The reasons aren’t hard to fathom: a handsomely paying job in a great professional environment. But, Bandyopadhya, isn’t alone who has decided to stay back in the US. In fact, he is just one among 94.8 percent of Indians who study abroad to earn doctorates in science, engineering, and health and don’t return home according to a research study released in October 2012 by Wan-Ying Chang and Lynn M. Milan of the National Science Foundation. The study, if anything, is latest evidence that ‘brain drain’ isn’t stemming, something over which our policymakers must ponder on the occasion of ‘National Science Day’. In 2010, India with an estimated stock of 11.4 million emigrants was only second to Mexico (11.9 million) as a source of immigrants, according to a research paper, ‘Indian Human Resources Mobility: Brain drain versus Brain gain’ published in 2012. India and the Philippines supply most foreign-trained doctors and nurses to the English-speaking countries within The Organisation for Economic Co-operation and Development (OECD). Citing lack of growth opportunities in the country, Dr. Sudeshna Mitra, assistant professor at IIT Kharagpur points, â€Å"It is true that a lot of improvement has been made at the infrastructure level over the past ten years but if we compare it with the developed countries of the world, it is still not up to the mark, hence it will be really difficult on our part to stop ambitious people leaving the country.† Brain-drain works both within and outside the country. Dr. Arvind Agrawal, professor at Department of Sociology, Central University of Himachal Pradesh, says, â€Å"There are two kinds of brain drain going on in the country. The first is the internal and the second is the external. As far as the internal brain drain is concerned, it is mostly confined to the states. A state like Rajasthan which has to its credit a list of many good schools but lacks good English medium colleges, hence students after completing their school education move out to big cities and ultimately get settled there.† Both internal and external brain-drain point to lack of opportunities. â€Å"External brain drain is defined as one when students move out of the country for higher education and settle there permanently,† further explains Dr. Agrawal.As per the Thomson Reuters Report 2012, India’s share in global research output is about 3.5 per cent. India’s largest global share of publications was in the field of Chemistry (6.5 percent) followed by Materials Science (6.4 percent), Agricultural Sciences (6.2 percent), Pharmacology Toxicology (6.1 percent) while the relative share in the field of Physics and Engineering was 4.6 percent and 4.2 percent respectively. One of the most affected sectors is genetic engineering and biotechnology which copes with shortages of junior staff, as approximately 90 percent of post-graduates in this field go to the US after completion of their studies in India. The quality of a nation’s higher education vests in the research and development, which in India’s case also is an area of concern and a major factor for brain drain. Concurring with the above, S. R. Ahlawat, professor at Department of Sociology, M.D University, says, â€Å"We have not been able to provide the right kind of research environment in which the students can really contribute to enhance their knowledge.† India with 68,000 students in 2009 accounted for the largest number of foreign students in the area of Science and Engineering in United States, followed by China with 54 000 students according to the ‘Indian Human Resources Mobility: Brain drain versus Brain gain’ research paper. â€Å"Developed countries provide good environment and easy accessibility to quality of life which provokes people to get settled there permanently,† warns Ahlawat at M.D University. Indian Universities have by and large failed to figure in the list of top 200 educational institutions of the world according to the QS World University Rankings for 2012. The Quacquarelli Symonds (QS) rankings — the most reputed global rankings of institutes for higher education had featured IIT-Bombay in 2010 which was ranked 187, but dropped to 227 in 2012. Highlighting the solutions to overcome the scenario, Dr. Agrawal at Central University of Himachal Pradesh, says, â€Å"Most of the state universities are run on political interference which acts as a hindrance in the growth of these institutions, hence it is a high time that there should be a semblance of order and growth and the prime focus should be to promote basic and fundamental research to save the quality.†

A Comparative Analysis on the Socio-Cultural Theories of Marx Essay Example for Free

A Comparative Analysis on the Socio-Cultural Theories of Marx Essay Over the years, the names Karl Marx, Emile Durkheim, Max Weber, and Friedrich Nietzsche have been very dominant in the field of sociology, psychology, economics, and politics. In discussing the concepts of communism and materialism, the theories of Karl Marx cannot be disregarded. For Marx, the major influential factor in human history is economics (Cline 2008). According to Marx, even in the past, people were not moved by ostentatious ideas but rather by material things that helped them live and survive. Marx’s studies and theories also deal with explaining the roots of the collision of classes—the wealthy and labour classes. The conflict between the wealthy and labour classes became inevitable because of the rise of capitalism. Due to capitalism, there has been a separation between these two classes. The wealthy continue to own properties and acquire labourers as modern slaves to work for them in their businesses, while the labourers continue to struggle for what little they have, and they have to work day and night just to survive. It is also because of capitalism that the scarcity of resources has increased, and this made the conflict between the classes even worse. For Marx, everything is built upon the foundations of economics. All the prominent social and economic institutions as well as other organizations can only be understood well if they will be associated with economics. Moreover, Marx expressed that oftentimes, people tend to think that their ideas actually root from truth, beauty, love and other grand concepts, but in actuality, those ideas are from class interest and class conflict (Cline 2008). On the other hand, as compared to Marx, Emile Durkheim was better known for his studies of the communication process in relation to sociological analyses. The main idea of Durkheim’s theory notes that the civilization of human beings is a result of communication (Book Rags 2008). Their psychological nature becomes cultural forces, and the material and economic life becomes the community and the society. Aside from this, Durkheim also became a prominent figure in the field of sociology. He explained the nature of the society with an evolutionary approach, regarding society as an organism that has a specific structure and function (University of Regina 2002). According to Durkheim, although a society is composed of individuals, he pinpointed that a society is not simply a sum of individuals; rather, it has an identity and existence of its own that is different from the individuals that are part of it. He further added that it is the society that is influencing the individuals through norms, social facts, sentiments, and social currents, rather than the individuals influencing the society as a whole. Durkheim’s sociological ideas also posed a concern towards social order. He tried to find out how a modern society remains intact given people’s differences, individualism, and autonomy of individuals (University of Regina 2002). Eventually, Durkheim was able to find the answer and explained it in his book, ‘The Division of Labour in Society’. In the book, Durkheim defined and explained the concepts of social solidarity, common consciousness, and systems of law which he also connected to the idea of forced division of labour. However, he claimed that such forces in the society will not always be effective in creating solidarity. Thus, there will be disruptions in solidarity and consciousness because of the social changes. This chain of ideas introduces the concept of anomie or suicide, which Durkheim considered as a naturally occurring phenomenon in every society. Durkheim also expressed his ideas about social action. In explaining this concept, he took the structuralist approach. He considered the social structures to exert a strong influence on social action (University of Regina 2002). He believed that the collective thoughts, beliefs, practices, and consciousness of individuals can indeed make a difference in a lot of ways. Max Weber shared the same position as Marx in terms of alienation in relation to former’s views about the inevitable rationalisation and bureaucratisation of the world (The Hewett School n. d. ). Both of them agreed that it was the modern methods of organisation which drastically increased the effectiveness and efficiency of production. Both of them also concurred that these modern methods paved the way for the exceptional domination of man over nature. They also shared the same opinion of the modern world with such rationalized efficiency—that it threatens to transform into a monstrous being and dehumanize its creators (The Hewett School n. d. ). However, Weber opposed Marx’s claim that alienation is only a transitional stage towards man’s true liberation. Ha also denied that inevitable characteristic of socialism. Previously, Marx noted that capitalism caused the lowering of the worker class in the mode of production. However, Weber argued that this situation cannot be avoided in a rationally coordinated system. Weber further added that men cannot participate in socially significant actions anymore unless they join a larger organization. It is through these organizations that men get to sacrifice their own goals and desires for the sole aim and objective of the organization. Thus, people get to take off a part of them and therefore get to be alienated. Lastly, Friedrich Nietzsche was known in his arguments about the core and foundations of morality. Unlike Marx, Durkheim, and Weber, Nietzsche’s theories are more inclined to morality, and he was more into arguing for concepts that relate to religion. However, his theories posted a huge significance in the fields of sociology, economics, and politics as well. His moral philosophy is primarily critical in orientation. With his philosophy, he attacked morality both for its commitment to weak descriptive claims about human action and also for the adverse impact of its distinctive norms and values on the budding higher types of human beings—or what he calls the ‘higher men’ (uberman) (Zalta 2007). This idea of higher men explains that, above all other motivations, human behaviour is motivated by the will to power. He also became known in his arguments regarding the foundations of traditional Christianity. For Nietzsche, the creativity and realities of the world are more important than any consideration of any worlds beyond (UK Apologetics 2007). Aside from this, he also had several beliefs which proved his interest to challenge the tradition and beliefs of Christianity. Nietzsche believed that the goal of a human’s life must be to find his/her true self and not to help others. He also believed that sexuality does not really oppose virtues; rather, it is a virtue in its own right. Furthermore, he also argued that the highest virtue an individual can have is to be true to him- or herself. Thus, Nietzsche’s ideas can be observed to have a sense of selfishness. However, it can be explained that he has this kind of belief since his exposure and genre are that which believe in the power of the human will alone and not of any greater being. Upon analyzing the theories and theorists mentioned above, I observed that all their ideas contribute a lot to the developments of the society nowadays. The first three theorists dwell more on the economic side. They explained the effects of capitalism, social classes, and the harmony of relationships within a society. On the other hand, Nietzsche observed the moral part which the first three theorists seemed to have overlooked. Looking at our modern society now, everything seems affected by multimedia. If only Marx, Durkheim, Weber, and Nietzsche still exist today, they might probably look at multimedia as one of the most powerful forces that has the ability to shape a society. However, relating their theories to the modern concepts of multimedia today, Durkheim’s concepts seem to have the greatest relevance to it. This is because Durkheim regarded communication as a shaping factor of civilization. By this, he meant that communication (which includes multimedia nowadays) is one of the forces that pave the way for human organization (Book Rags 2008). Communication or multimedia in the modern perspective can also be interpreted—using Durkheim’s view—as the mould which makes or shapes a society. Thus, a society without the practice of communication cannot be considered a civilized society (Book Rags 2008). Putting this into modern context, a society without the practice of multi-media—which can be considered as one of the most powerful means of communication at present—is a society which has not yet reached development. List of References Cline, A. (2008). ‘Religion as Opium of the People’. About. com [online]. Available from http://atheism. about. com/od/philosophyofreligion/a/marx. htm? p=1 [29 October 2008] Book Rags (2008). Durkheim, Emile (1858-1917) [online]. Available from http://www. bookrags. com/research/durkheim-mile-1858-1917-eci-01/#bro_copy [29 October 2008] The Hewett School (n. d. ). Weber and Marx [online]. Available from http://www. hewett. norfolk. sch. uk/CURRIC/soc/WEBER/wm. htm [29 October 2008] University of Regina (2002). Conservative Approaches [online]. Available from http://uregina. ca/~gingrich/s16f02. htm [29 October 2008] Zalta, E. Ed. (2007). ‘Nietzsche’s Moral and Political Philosophy’. Stanford Encyclopaedia of Philosophy [online]. Available from http://plato. stanford. edu/entries/nietzsche-moral-political/ [29 October 2008] UK Apologetics (2007). Friedrich Nietzsche (1844-1900) [online]. Available from http://www. ukapologetics. net/truthaboutnietzsche. html [29 October 2008]

Teaching English As A Foreign Language

Teaching English As A Foreign Language The aim of this study is to assess the performance of the teachers of English for the first year of the secondary schools in Missalata in: the new textbook. It also investigates other factors that influence teachers presentation, such as: the time allocated to the teaching of English and the lack of important materials such as tape recorders, dictionaries and other teaching aids. The main tool through which the researcher collected data is checklists adopted from a well known figure in teaching English as a foreign language named Jack Richards. The study consists of five chapters. Chapter one looks at defining some of the concepts involved in the TEFL teaching process as well as emphasizing the role of the teacher. Chapter two examines the background to TEFL teaching in Libya. It also includes a literature review. Chapter three outlines the background to the study and introduces the learning environment of it. It also discusses the methodology of the study and looks at the applied checklist as well as the parameters used as part of the research. Chapter four analyses the collected data. The last chapter comprises the conclusion and recommendations which are thought to be helpful to improve the English language teaching in Libyan schools. Chapter one 1.1- Introduction Teaching English as a Foreign Language (TEFL) is a complicated process because it comprises a number of elements where the absence or the weakness of any one would affect the whole process. Al-Akhdar (2001: 1) says in this context The success of a course of English as a FL depends on several factors He discusses the issue of methodology in detail as one of the factors influencing the successful outcomes of the teaching operation. Another factor is to be discussed here: it is the teacher. This study examines the important role of the teacher in relation to the methodology employed. The reasons behind the important role played by the teacher in the teaching process is illustrated by the following points: 1. The teacher can compensate for any shortage of material or poor material, either by using other sources, or by tailoring the material to suit his particular class. 2. The teacher can balance the variations of the students levels. It is natural for the teacher to notice this heterogeneity in any class. It is the teacher who knows how to deal with such a situation. 3. He is also the one who deals with oversize classes (i.e. classes with more than 16 students) when it is quite difficult to carry out certain tasks and activities. Harmer (2002: 128) maintains that: In big classes, it is difficult for the teacher to make contact with the students at the back and it is difficult for the students to ask for and receive individual attention. He goes on to give reasons for the difficulty in teaching big classes by saying: big classes mean that it is not easy to have students walking around and changing pairs etc. Most importantly, big classes can be quite intimidating for inexperienced teachers. Ur (1997: 303) also lists some problems in teaching large classes such as: à ¢Ã¢â€š ¬Ã‚ ¢ Discipline à ¢Ã¢â€š ¬Ã‚ ¢ Correcting written assignments. à ¢Ã¢â€š ¬Ã‚ ¢ Effective learning for all. à ¢Ã¢â€š ¬Ã‚ ¢ Materials. à ¢Ã¢â€š ¬Ã‚ ¢ Individual awareness. à ¢Ã¢â€š ¬Ã‚ ¢ Participation. 4. It is the teachers responsibility as well to overcome the problem of the shortage of classroom timetabling. Some syllabus timing is longer than that allocated by the Education Authority. All of the above points encompass the teachers responsibilities and distinguish him as a crucial factor in the educational process. Dubin and Olshtain (1986:31) however, put it well when they said: The teacher population is the most significant factor determining success of a new thinking and what it involves in practical terms are crucial. Alien and Valette (1977: 3) also stress the important role of the teacher. They say that: The teacher is the key figure in the language course. It is the teacher who sets the tone for the learning activities. They add that: The teacher plays a prime role in effecting student progress or lack thereof. The teachers role, therefore, in creating a successful learning environment for EFL secondary school students studying in Libya is of paramount importance to the successful completion of their course. This dissertation examines the teachers role and undertakes an analysis of the complications involved and the possible solutions to these difficulties. This analysis takes the form of an evaluation of teachers lessons at secondary schools in Missalata, Libya. 1.2-Elements Involved in English Language Teaching: Before this analysis is undertaken, however, the process behind EFL teaching in general needs to be examined in some detail. This will place the teachers role in context and illustrate the overall complexity inherent In the EFL process This process according to Al-Mutawa and Kailani (1998: 6) consists of central determinants which include the pupil, the EFL teacher, the method of teaching, the teaching materials and the classroom environment. These EFL learning and teaching elements are briefly discussed from a Libyan perspective in the following section: 1. 2.1-The Pupil: There are two types of English language learners in the Libyan environment; a full time student in an academic institution (school, college or university) and those who are enrolled on private courses which are run by private language centres. The objective behind learning English at these types of language centres is either to fulfil the need of the learner himself or that of his employer for work requirements, or to develop further the learners capability in a specific field such as, English for medicine, English for engineering, etc. The difference between the two can be summarised as follows: A. The syllabus for the learner at the academic institutions is a standard one which is taught all over the country, while the syllabus for the private institutions varies from one organisation to another. B. The learners age at the academic institutions are fairly similar Whereas it can vary at the private centres. C. Private language centres care a lot about the number of learners in one class, but public classes are always oversized which in turn can affect their learning process. 1.2.2- The EFL Teacher: Each job has its own specification or what is called a job description. Accordingly it is necessary, when recruiting a teacher to fill a position in any school to match him against the requirements for the job. But what are the criteria that we can apply in this process? It is quite difficult to base the answer on a checklist of a number of criteria such as a university degree. However, Richards (2001: 209-210) points out that two main factors should be considered carefully in employing EFL teachers: 1.2.2.1- The Teachers Knowledge. In this respect he outlines the following: à ¢Ã¢â€š ¬Ã‚ ¢ practical knowledge: the teachers repertoire of classroom techniques and strategies à ¢Ã¢â€š ¬Ã‚ ¢ content of language knowledge: the teachers understanding of the subject of TESOL, e.g., pedagogical grammar, pronunciation, teaching theories, second language acquisition, as well as the specialized discourse and terminology of language teaching contextual knowledge: familiarity with the school or institutional context, school norms, and knowledge of the learners, including cultural and other relevant information à ¢Ã¢â€š ¬Ã‚ ¢ pedagogical knowledge: ability to restructure content knowledge for leaching purposes, and to plan, adapt and improvise à ¢Ã¢â€š ¬Ã‚ ¢ personal knowledge: the teachers personal beliefs and principles and his or her individual approach to teaching à ¢Ã¢â€š ¬Ã‚ ¢ reflective knowledge: the teachers capacity to reflect on and assess his or her own practice. 1.2.2.2- Teaching Skills: Teaching skills refer to knowledge or the ability to perform certain skills. A similar taxonomy is provided by McDonough and Shaw ( 1993: 297) who lists the following: Knowledge of the language system Good pronunciation Experience of living in an English-speaking country Qualifications (perhaps further training taken, or in-service development) Classroom performance Evidence of being a good colleague Length of time as a teacher Ability to write teaching materials Careful planning of lesson Same LI as students, or a sound knowledge of it Experience of a variety of teaching situations Personal qualities (outgoing, interested in learners and so on) Publications Knowledge of learning theories Wide vocabulary Ability to manage a team of teachers. In addition to the above points education authorities at all levels (planners, inspectors and headmasters) are asked to follow up and assist English language teachers in order to improve further their ability and make cope with any development that might arise. Richards (2001: 218). Lists a number of conditions to achieve and maintain good teaching standards: à ¢Ã¢â€š ¬Ã‚ ¢ Monitoring: in this respect he states that to upgrade the level of teaching, monitoring can play a major role through: group meetings, written reports, classroom visits, and student evaluations. à ¢Ã¢â€š ¬Ã‚ ¢ Observation: This can also play a part in upgrading teaching and he proposed different ways to implement this task. He suggests: self-observation, peer observation or supervisor observation. à ¢Ã¢â€š ¬Ã‚ ¢ Identification and Resolution of Problems: problems that may face the teacher should be identified well in advance and should be tackled immediately in order to be avoided in future. à ¢Ã¢â€š ¬Ã‚ ¢ Shared Planning: This task can be done through the collective work among teachers on planning a course of study. EFL teachers in Libyan secondary schools are prepared to teach a certain syllabus not teaching English. Moreover, they are not taught how to teach the new textbooks. 1.2.3-The Method of Teaching: Before discussing the different methods it is worth distinguishing between the two terms method and approach. Richards et. Al. (1985: 228) give very simple definition. They say method is: (in language teaching) a way of teaching a language which is based on systematic principles and procedures, i.e., which is an application of views on how a language is best taught and learned. They go on to say that these views include: a. The nature of language b. The nature of language learning c. goals and objectives in teaching d. the of syllabus to use e. the role of teachers f. the techniques and procedures to use As with regard to the definition of approach, Al-Mutawa and Kailani (1988: 12) say in this respect: The term approach refers to principles or assumptions underlying the process of language teaching and learning. They give the following clear example to illustrate their definition: one of the assumptions underlying descriptive linguistics is that language is a set of habits, i.e. habit formation which is acquired by the process of stimulus, response and reinforcement. Below is a discussion of the major teaching methods. 1.2.3.1- Grammar Translation Method: The history of Grammar Translation method dates back to the decades of teaching Latin in the nineteenth century. The objective behind The application of this method includes as Rivers says ( 1983: 29) an understanding of the grammar of the language and training the student to write the new language accurately by regular practice in translating from the native language. It aims at providing the student with a wide literary vocabulary It aims training the student to extract the meaning from texts in the new language by into the native language. Students are taught, according to this method, deductively by having sufficient explanations of the rules as well as long lists of vocabulary and asked to memorise them by heart in order to translate texts. The teachers role however, is exemplified in the use of the learners first language to explain the rules and the vocabulary of the targeted text and then assists the learner to translate it. (Baker and Westrup: 2000). Less emphases is made on accurate pronunciation thus listening and speaking are ignored in this method. The Grammar Translation method is known to be very useful as Baker and Westrup( 2000: 4)) point out: in teaching academic work and for passing written exams . 1.2.3.2- The Direct Method: The Direct Method was brought to existence by the end of the nineteenth centaury in rejection for the ignorance made by the Grammar Translation method to listening and speaking skills. Voices started to be heard at that time for reform and that is why the direct method was known as the Reform method. The method is also known as the Natural or the Psychological Method for the fact that it makes an analogy between the child who learns his mother tongue and the way the learner learns L2. In contrary to the Grammar Translation Method, the Direct Method stresses the need to use the target language right from the regaining and to avoid the use of the mother tongue. In this respect Rivers (1983: 32) says: This renewed emphasis on the target language as the medium of instruction in the classroom meant that correct pronunciation became an important consideration. The classroom teaching concentrates on practising the target language through the use of listening and speaking while reading and writing are considered less important. Students are encouraged to memorise phrases and dialogues. Baker and Westrup( 2000: 4) list the following limitation in learning L2 through the use of the Direct Method: à ¢Ã¢â€š ¬Ã‚ ¢ Students may not always understand what they are repeating; à ¢Ã¢â€š ¬Ã‚ ¢ Students cannot make their own responses in new and different situations; à ¢Ã¢â€š ¬Ã‚ ¢ Teachers may not be confident enough to use English throughout the lesson; à ¢Ã¢â€š ¬Ã‚ ¢ They are not so useful for advanced learners. 1.2.3.3- The Audio-lingual Method: One of the main reasons for the emergence of The Audio-lingual Method came as a result of the need of the American forces to use and understand the language of the invaded countries in the 40s and 50s. Kara (1992: 82) says in respect of the application of the Audio-lingual the Following: then being used by the American Army to train their men to understand a native speaker and speak a Language with a near-native accent. She goes on to describe the mechanical application of the method by saying: Classes were small and staffed by linguistic by linguistic experts who taught using graded materials based on structural analysis and demanded long hours of drill and active practice with native speakers as models for imitation. This method has based its grounds on the Behaviourist Psychology where the following assumptions are embedded: a) Language learning is primarily mechanical habit formation. b) Language is a form of verbal behaviour. c) Priority goes for mastering spoken first in order for the other skills to be effectively gained. d) Analogy is a better foundation for language learning than analysis, therefore pattern practice in context precedes the presentation of rules. e) Teaching language involves teaching the cultural norms of native speakers of the target language. The major criticism addressed to the Audio-lingual method is represented in Rivers (1981: 47) words as follows: If Audio-lingual training is given in a mechanical way, students may progess like well trained parrots-able to repeat whole perfectly when given a certain stimulus, but uncertain ,;t meaning of what they are saying and unable to use ::^.zed materials in contexts other than those in which they earned them. Student must be trained from the first lesson to apply what they have memorized or practiced in drills in communication situations contrived within classroom group. 1.2.3.4-The Communicative Approach: The Communicative approach first emerged in the UK in the mid to .ate 1970s. It was brought up as a result of the dissatisfaction with the structural and behaviourist methods of language teaching. This is the methodology which is currently widely used in text books not only in the West but even in our schools and training centres in Libya. Besides the preparatory and secondary schools text books, most of the oil sector and banks training centres are applying this approach in their teaching of English. The focus, in this approach, is on using language for communication while accuracy is seen as secondary. The function of language, or the way it is used, is considered more important than the form. As with regard to classroom teaching, the communicative approach gives a large proportion of class time to student-centred activities. Students are given the chance to use the language in realistic situations where they must use the language for real communication. The use of authentic materials and realia is encouraged wherever possible. The role of the teacher however, is seen as a group manager and activity leader or facilitator. In this case, he is advised to allow considerable time for the learners to work at their pace and ensures that the learners should proceed from guided to freer practice of language items. The teacher has also to encourage group and pair work. 1.2.3.5- The Eclectic Approach: Some teachers however, prefer to adopt an eclectic approach. The teacher in this case adopts some of the above mentioned methods during one single lesson. The teacher in this situation carries out a certain task in the class using grammar translation methodology and the other task performed through the audio-lingual method. In this regard Al-Mutawa and Kailani (1988: 27) say: Teachers often incorporate features of different approaches in their particular methodology. Most of the English language teachers nowadays think that teaching grammar is the objective of teaching the language. Functions and notions for them are considered as secondary targets or they are used mainly to illustrate or highlight grammar rules. 1.2.4- The Teaching Materials: Teaching materials include; textbooks, workbooks, newspapers and magazines, posters, blackboards, whiteboards, language laboratories, overhead projectors, tape recorders, videos and realia (such as real fruits, Vegetable, Kitchen objects) etc . Teachers can always try to create in the use of these materials. Some schools may lack some of above if not most. The teachers, therefore, can manage this shortage of materials. They can for example use his personal items from home or bf can seek the help of his students. 1.2.5- The Classroom Environment: Most of the classrooms in Libya are built compatible with educational specifications. That is all of the classrooms are large enough to accommodate (between 25 to 30) students in each class. They have enough windows to provide light and fresh air. The physical building itself is not enough, however. There are of course, other things complementing the physical structure such as ventilation, particularly in winter when these classes need to be warm enough, and electricity supply that is just as important. Students and teachers desks as well should be convenient. All of these compose an environment that might help create an appropriate educational atmosphere. Further to the above discussion, it is necessary for purposes of clarification to discuss other terminology that can appear confusing. Terms such as curriculum, syllabus, methodology and teaching materials are interrelated and are sometimes mistaken for one another. Since this study uses these terms very frequently, it becomes essential to define what each one of them means. 1.2.6.Curriculum: Nunan(1988:6) defines curriculum as follows: curriculum is a very general concept, which involves consideration of the whole complex of philosophical, social and administrative factors, which contribute to the planning of an educational programme. On the same line, Lim (cited in Richards 2001: 41) also includes the following parameters as part of the curriculum process: needs analysis, goal setting, syllabus design, material design, language programme design, teacher preparation, implementation of programmes in schools, monitoring, feedback and evaluation. Curriculum can be divided into three different groups: à ¢Ã¢â€š ¬Ã‚ ¢ Planned Curriculum à ¢Ã¢â€š ¬Ã‚ ¢ Implemented Curriculum à ¢Ã¢â€š ¬Ã‚ ¢ Realized Curriculum Nunan (2000) describes these stages as follows: I like to draw a distinction between the planned curriculum, the implemented curriculum, and the realized curriculum. The planned curriculum includes everything that is done prior to the delivery of instruction. The implemented curriculum refers to what happens in the moment-by-moment realities of the classroom. The realized curriculum refers to the skills and knowledge that learners actually acquire as a result of instruction. This study will be mainly dealing with the implemented curriculum. Chapter Two Literature Review 2.1.- Secondary School Syllabus (Past and Present): 2.1.1- Introduction. The teaching of English as a foreign Language has attracted great interest in Libya since the mid 40s. Imssalem( 2001: 8) said in this context: Since the start of British administration in 1943, English was introduced into the school system and has become the first foreign language. English is also currently a core subject from the first year of preparatory school to the university stage. It is also a core subject in all university colleges. The preparatory and secondary school English textbooks in Libya, however, have seen remarkable developments. These developments fall into two main stages: 2.1.2-Secondary School Syllabus Before 1996. Libya was one of the Italian colonies and it was very much affected by the Italian imperialistic policy, particularly in the field of education. In this regard, Mahaishi (1999: 9) maintained that: education was affected by the policies made by the colonisers, where they had abolished the schooling system created by the Ottoman rule during the last years of their empire. Consequently the colonisers imposed an Italian curriculum from the early education stages in order to Italianise the life of the Libyan Arab citizen through imposing the Italian language. This stage lasted nearly half a century. Afterwards, and by the start of the British administration in Libya in 1943, English language started to take its place in the Libyan school curriculum in a different way to that employed by the Italian invaders. Whereas the Italian curriculum aimed at Italianising the Libyan education system, English language during the British administration was introduced as a school subject. Other subjects such Maths, Chemistry etc, were introduced in Arabic. Moreover, education in Libya, generally, was very limited for many reasons, for example, poverty and the fact that the country was the scene of ferocious imperialistic wars between foreign forces, to the extent that John Wright (1972: 206 ) in his book The History of Libya put the rate of illiteracy at 90%. until 1964 the English Language syllabus was exemplified in English textbooks imported from Egypt. Imssalem (2001: 8) says that: The curriculum for English language teaching in Egypt was introduced into Libya by British-trained Egyptian teachers. In the late 60s, M. Gusbi in collaboration with R John produced a new syllabus, which lasted around three decades as reliable, local Material used in Libyan secondary schools. Mr. Gusbis material (Further English for Libya, Revised edition 1974) was based on the audio-lingual method, which was characterised by concentration on structure and form rather than on meaning as an objective of teaching. This approach has relied on introducing a topic, familiar to the learners culture, followed by some drills and exercises. The lessons were gradually graded in linguistic complexity, aimed at consolidating the rules in order to develop the learners linguistic competence. For instance, if you look at the exercises used in Lesson One (Gusbi and John, Seventh Impression, 1983: 4-5) only section C is different with the introduction of some comprehension questions. One finds them concentrating on grammar, for example, Section D (Make sentences from this table), Section E (Put these sentences into negative etc. With regard to the skills, the focus was only on listening and speaking in the first stages. Reading and writing, however, were postponed to the advanced stages until the first two skills were mastered. This method implies a teacher centred approach, where he/she finds himself/herself taking the big share of talking and directing as well as correcting any type of error that might arise to ensure the development of the learners accuracy. The case of the Libyan English textbook, (Further English for Libya) which was built on structural bases, was almost the same as that in some other Arab countries. Kharma and Hajjaj, (1986 : 60) describe the syllabus in the Arab Gulf States before the mid 70s by saying: With the introduction of the structural approach the syllabus continued to be thought of as materials content in terms of lexical and grammatical items, and particularly sentence patterns. At that time the Communicative approach was introduced into the curriculum in Europe and the USA. 2.1.3-Secondary School Syllabus After 1996: In order to discuss the secondary school syllabus in Libya after 1996 this section highlights the development of the communicative approach since the Libyan secondary school textbooks are now based on a communicative approach of teaching. The communicative approach came into existence by the end of 1960s and early 70s as a result of the dissatisfaction with the then current approaches and methods, such as the Grammar-Translation method, Direct method, Audio lingual method etc, that concentrated on language structure instead of the real use of the language itself as means of communication. Richards (1995: 66) in this context quoted Littlewood when he describes the communicative language teaching by saying: One of the most characteristic features of communicative language teaching is that it pays systematic attention to functional as well as structural aspects of language. This approach has incorporated the teaching of the four language skills besides grammar and vocabulary which according acknowledges the interdependence of language and communication. Thus it supersedes the previous methods in unifying these two concepts i.e. language and communication. This shift however, from merely teaching language structurally to teaching it communicatively met with different views, some in favour and others against. In China for instance, Xiao Qing Liao (10/10/2001) says: In spite of the resistance [to the introduction of the communicative approach in China], there were still many teachers in favor of CLT. Although communicative language teaching was introduced to the Libyan secondary school textbooks in 1997, which is considered relatively late, it can be said that these textbooks are improved for the following reasons: à ¢Ã¢â€š ¬Ã‚ ¢ They can be described as comprehensive multi-strand textbooks i.e. they introduce in each unit of the books; vocabulary, grammar and the four language skills listening, speaking, reading and writing. à ¢Ã¢â€š ¬Ã‚ ¢ The textbooks content of vocabulary, grammar and the four language skills serve the theme of each unit in a communicative way. The authors (Tankard and Tankard 2001:1) give an example of this point in their introduction to the First year Secondary School Textbook by saying: Unit 5 has the theme Countries and Regions. In this unit the vocabulary relates directly to the theme: the students learn new words and expressions to describe geographical regions. The grammar point covered is comparative adjectives, and the communicative functions are comparing people and things and talking about countries and regions. à ¢Ã¢â€š ¬Ã‚ ¢ The variation in the topics included in the course book supports the learners command of the language and can help him to use English in real life situations. à ¢Ã¢â€š ¬Ã‚ ¢ Contrary to the previous textbook (Further English for Libya by Gusbi and John 1970 Longman publications), which dominated the process of teaching English as a foreign language in Libyan schools for nearly three decades, the new textbook can also be considered as a dynamic one and not static. For instance, in terms of student participation, most of the tasks were set in order for the students to interact among themselves, to play certain roles or to solve a problem, whereas the old textbook concentrates mainly on grammar issues where there is no chance for group work. The possibility of performing the exercises in the old text book can only be done between the teacher and a student or one student and another. Accordingly, the chance for involving the whole class group work or pair work is not available. à ¢Ã¢â€š ¬Ã‚ ¢ The other advantage of the new textbook is represented in the use of Visual aids. The pictures are very helpful and very motivating for the learner to learn, to understand the task and accordingly participate actively in the class. For instance, in Unit Two (p. 6,7and 8) the topic is about Towns and cities in which the authors introduced the city of Bath in England as an example. At first they present an introduction about the city on page 7, supported by a map of the city using colours (red, blue and green) to show the most famous places like the museum, Post office, car park and recreational park. The objective behind the passage, in page 7, is to provide the learner with necessary vocabulary. In page 8, the picture is used for further drills of the vocabulary in listening and speaking e.g. giving and following directions. These drills are of course, supported by drawings. Besides dealing with vocabulary, listening speaking and reading, it also deals with grammar in clusively (using WH questions and demonstrative pronoun there). Pictures in the old syllabus, however, were very limited and did not serve the theme or any learning activity. In spite of this improvement of the new English Language textbook in Libya, it did not take into account the other elements of the learning and teaching process i.e. the pupil, the EFL teacher, the method of teaching applied in the Libyan schools, teaching material, and the classroom environment. So the questions that should have been posed by the authors of English for Libya (Alan and Fiona Tankard) and the Libyan educational authorities before writing the textbook could have been: à ¢Ã¢â€š ¬Ã‚ ¢ Is the teach

Overpopulation of the Earth Essay -- Environment Environmental Polluti

Overpopulation of the Earth The little animatronic children at Disney World were right, it is â€Å"a small world after all†; maybe even too small. At the beginning of the present century there were approximately 1.7 billion people in the world(Southwick pg.159). Today, there are nearly 6 billion people in the world. The world’s population has more than tripled in the span of a hundred years. Given that the earth’s population is constantly on the rise and seeing as how our natural resources are gradually being depleted, we must ask ourselves: what is to become of us and what is to become of our environment? In order to understand this question we must first have a thorough understanding of whether or not there is a population crisis. Having understood this, we must then look at the consequences, if any, of the aforementioned population dilemma. Finally, it is imperative to see whether the governments of the world have appreciated this situation as a crisis and whether or not they have acte d. I) Population Crisis? Population concerns began in 1798 when Thomas Robert Malthus, an Anglican clergyman, wrote an essay entitled An Essay on The Principle of Population (Malthus). The essay focused on the relationship that he believed existed between population growth and human subsistence levels (by ‘subsistence’, Malthus meant anything from food to jobs to land). Malthus argued that the earth’s population expanded ‘geometrically’ while â€Å"’subsistence increases only at an arithmetic ration’†(Malthus). This meant that at some point human beings would experience a scarcity of land, food and jobs, leading to â€Å"human misery and catastrophe† (Southwick pg. 159). This time of misery is described as a time where the poorest classes in societ... ...ally emphasize sexual education and contraceptive distribution), other governments have offered economic incentives to limit family size, governments like China have tried to coerce their people to limit family size and so on. Some of these responses have been more effective than others. Personally, I would argue that the emphasis should be on sexual education and distribution of contraceptives. Sources: Dolan, Edwin G., Ch. 5 from "TANSTAAFL: The Economic Strategy for Environmental Crisis" 1974, pp. 55-72. Hern, Dr. Warren. "Why Are There So Many of Us?" http://www.drhern.com/fulltext/why/paper.html Malthus, Thomas Robert. An Essay on The Principle of Population http://arts-sciences.cua.edu/econ/faculty/aguirre/resenv.htm#1.%20MalthTheory Southwick, Charles H., Ch. 15 from "Global Ecology in Human Perspective" Oxford Univ. Press, 1996, pp. 159-182.

Service Desk :: Personal Narrative Writing

Service Desk I find myself working at the Service Desk about noon on a Sunday afternoon. The  ³Church Rush ² has begun. People with their three piece suits and Sunday dresses on all come to shop. Then this gentleman and his daughter come in and the dreaded happens. They have a video game, that is opened, with a receipt. One of the toughest situations to deal with. The account, in extreme cases, goes like this:  ³Hi, ² I say.  ³Hello, I ¹d like to return this. Here is the receipt, ² the guest replies. I see that it is  ³Mario Party ² for the Nintendo 64 and it is opened.  ³Okay, I can exchange this for another copy of Å’Mario Party ¹, ² I say.  ³I don ¹t want another copy. It was to difficult for my kid, ² the guest says.  ³Well, due to copyright law issued by the Federal government I cannot refund your money or issue an exchange except for an exact copy of this game, ² I explain.  ³I never have had a problem with returns before at this store, ² the guest tells you.  ³One moment, ² I say as I go get the return policy pamphlet. I then point out the phrase which applies to the situation.  ³Well this says I can return electronics with a receipt, ² says the guest as they point to a different section of the return policy.  ³In certain instances it is that easy, but in this case I can issue you another copy of Å’Mario Party ¹ due to copyright, ² I say.  ³Well, I shop here every week. I buy stuff for home, the office, and gifts. I ¹ve never had a problem before. Are you telling me I just threw away $55?!? ² retorts the guest in an angry manner.  ³I ¹m sorry, would you like to speak with the manager? ² I ask. That phrase is one of my favorite questions in a situation such as this.  ³Yes, I do! ² exclaims the guest. I turn around and pick up the walkie-talkie and call for the Lead on Duty.  ³LOD can you come to the service desk? ² I speak in to the walkie.  ³Be there in a minute, ² the walkie says back with Brian ¹s voice. As I stand there the gentleman ¹s little daughter says in the cutest little voice,  ³If we buy something here and have the receipt we can return it. ² I just look at her then at her father a give a brief smile. The time it takes the LOD to arrive at the service desk seems like an eternity.

The Beginning of the N.F.L. Essay -- Art

The Beginning of the N.F.L. The year was 1920 and pro-football was in a state of confusion. The three main problems that led to all the confusion were, salaries rising, players jumping from team to team and the use of players still enrolled in college. So, on August 20, 1920, a group of men representing the four current pro teams met. When the day was done the American Professional Football Conference was born. The A.P.F.C. was formed to make one governing body over pro football. Then, on September 17, 1920, a second organizational meeting was held. At the second meeting the following teams attended: the Akron Pros; Canton Bulldogs; Cleveland Ohio Indians; Dayton Ohio Triangles; Decatur Illinois Staleys Athletic Club; Hammond Indiana Pros; Massillon Tigers; Muncie Indiana Flyers; Racine [a Chicago street] Cardinals; Rochester New York Jeffersons; Rock Island Illinois Independents; and [the State of] Wisconsin. One of the first orders of business was to change the name of the American Professional Football Conference to the American Professional Football Association. The second order was to appoint a president. So Native-American Olympic Gold Medallist Jim Thorpe was elected as league president. Other rules were made such as a membership fee of $100 per team; to be charged to give an appearance of respectability No team ever paid it. Scheduling was left up to the teams, and there were wide v ariations. This occurred both in the overall number of games played and in the n...

Marketing and Robertson Tool

Q) If you were Mr. Vincent would you try to gain control of Robertson tool in May 2003 If I were Mr. Vincent , yes I would like to gain control of Robertson tool in May 2003. The synergy after acquiring as well as profits which would be gained after the merger will be more than the cost of the merger. Monmouth had earlier acquired Dessex. It acquired a quality product line, an established distribution system of 15000 retail hardware stores spread across United States as well as in Canada and Mexico. The Acquisition of Dessex provided a solid base for the other two companies which were added, Keane and Kroll.Keane was highly profitable but was under mismanagement whereas Kroll was a leading supplier of soldering tools to industries, electronics and consumer market. The sales force in Monmouth’s Dessex-Kroll-Keane tools lines overlap with Robertson and this would provide a one of the opportunities of lowering costs of operations. Robertson was one of the largest domestic manufac tures of cutting and edge hand tools and a leader in its two main product areas. This well fitted with Monmouth’s strategy to acquire only leading companies in their respective market segments.The two companies will also complement each other in terms of their sources of earnings where Robertson’s’ strength in the industrial market and its strong European distribution system would of great asset and would pull Monmouth’s products strengthening their presence in this market. Acquisition of Robertson Tool fits well with Monmouth’ diversification strategy and will allow them to broaden markets and be less sensitive to the general economic conditions. Robertson has great distribution system with coverage all over the world.Robertson is believed to have the strength to grow as fast as other companies in terms of sales (6%-7%) in its industry. More importantly, it could provide Monmouth the diversification of product line. The expansion in the hand tool market would lessen the volatility of Monmouth caused by the cyclical nature of heavy machinery and equipment sales. Besides, Monmouth could help Robertson Tool reduce its cost of goods sold and selling expenses substantially, due to the elimination of sales and advertising duplication and excessive number of products.The two companies would also be complementary since they each dominate in the industrial and consumer market. Q) Why is Simmons eager to sell its position to Monmouth for 50$ per share? Simmons wanted to gain a majority stake at Robertson yet he was falling short of 249000 shares which needed to give him majority control. Simmons now feared that Robertson might merge with NDP and he would have to receive NDP common stock for its 177000 shares of Robinson Stock which he knew wasn’t good at all.On the other hand, a merger of Monmouth and Robertson would allow Simmons to convert its share into common stock of Monmouth at an acceptable exchange rate. Simmons expecte d a rebound from cyclical downturn and Monmouth stock would show price appreciation. The stock was traded on NYSE which provided substantial liquidity. So he agreed for 50$ per share as it was a good price. Moreover the Book value was $53 so it seemed to be a pretty good deal for Simmons. Marketing and Robertson Tool Q) If you were Mr. Vincent would you try to gain control of Robertson tool in May 2003 If I were Mr. Vincent , yes I would like to gain control of Robertson tool in May 2003. The synergy after acquiring as well as profits which would be gained after the merger will be more than the cost of the merger. Monmouth had earlier acquired Dessex. It acquired a quality product line, an established distribution system of 15000 retail hardware stores spread across United States as well as in Canada and Mexico. The Acquisition of Dessex provided a solid base for the other two companies which were added, Keane and Kroll.Keane was highly profitable but was under mismanagement whereas Kroll was a leading supplier of soldering tools to industries, electronics and consumer market. The sales force in Monmouth’s Dessex-Kroll-Keane tools lines overlap with Robertson and this would provide a one of the opportunities of lowering costs of operations. Robertson was one of the largest domestic manufac tures of cutting and edge hand tools and a leader in its two main product areas. This well fitted with Monmouth’s strategy to acquire only leading companies in their respective market segments.The two companies will also complement each other in terms of their sources of earnings where Robertson’s’ strength in the industrial market and its strong European distribution system would of great asset and would pull Monmouth’s products strengthening their presence in this market. Acquisition of Robertson Tool fits well with Monmouth’ diversification strategy and will allow them to broaden markets and be less sensitive to the general economic conditions. Robertson has great distribution system with coverage all over the world.Robertson is believed to have the strength to grow as fast as other companies in terms of sales (6%-7%) in its industry. More importantly, it could provide Monmouth the diversification of product line. The expansion in the hand tool market would lessen the volatility of Monmouth caused by the cyclical nature of heavy machinery and equipment sales. Besides, Monmouth could help Robertson Tool reduce its cost of goods sold and selling expenses substantially, due to the elimination of sales and advertising duplication and excessive number of products.The two companies would also be complementary since they each dominate in the industrial and consumer market. Q) Why is Simmons eager to sell its position to Monmouth for 50$ per share? Simmons wanted to gain a majority stake at Robertson yet he was falling short of 249000 shares which needed to give him majority control. Simmons now feared that Robertson might merge with NDP and he would have to receive NDP common stock for its 177000 shares of Robinson Stock which he knew wasn’t good at all.On the other hand, a merger of Monmouth and Robertson would allow Simmons to convert its share into common stock of Monmouth at an acceptable exchange rate. Simmons expecte d a rebound from cyclical downturn and Monmouth stock would show price appreciation. The stock was traded on NYSE which provided substantial liquidity. So he agreed for 50$ per share as it was a good price. Moreover the Book value was $53 so it seemed to be a pretty good deal for Simmons.

Eliot Spitzer Case Essay

Eliot Spitzer, attorney general of New York Investment Protection Bureau, was the leading regulator who changed the way many Wall Street firms do business. What he accomplished was nothing short of extraordinary – he has not only stood up for the investors against Wall Street giants, but he did so in such an aggressive but rightful manner that required much courage and sophistication. Many criticized Spitzer for his overly aggressive indictments and actions against Wall Street firms, which consisted releasing the Merrill Lynch’s incriminating emails on the national television as well as releasing firms’ civil charges to public before the court ruled on the case. However, his rationale behind it was that many Wall Street firms have taken shelters under legal settlements – usually led by SEC or other government regulation agencies – that would withhold the scandalous details of their charges and only require firms to pay some fines. These firms’ reputations would remain intact and the public would not have any awareness of the â€Å"corrupt business models† that many of these firms have been practicing. That is why many firms continue to make fraudulent, deceitful deals that would rip off their clients, and drive up their profitability, knowing that the worst case scenario is them getting caught and having a pay some type of fine to settle the case. Therefore, Spitzer releasing the incriminating details of Wall Street firms to the public, though a bit unorthodox, is fair in my opinion. He did so for a rightful reason – to use the power of publicity to implant fears of committing frauds into Wall Street executives’ minds. He wanted to build a stronger deterrent against Wall Street firms’ ill practices. In addition to that, Spitzer’s actions are also legitimized by a rarely known New York State law called Martin Act. This Act, once invoked by attorney general, can prohibit a firm from continuing its allegedly fraudulent practices. Attorney generals can then immediately expose the situation to the public while continue their investigation and gather more information until they are ready to file suit – which can be civil or criminally – against the firm. The act itself is designed to prevent fraud and deceitful practices. Spitzer used the Martin Act as his strongest vehicles to punish the di shonest Wall Street firms. Of course, no firms are â€Å"corrupt† by nature. Matter in fact, most of the Wall Street firms have Code of Ethics and Control systems in place to prevent their employees to practice fraudulently. However, the main problem is that although these policies are well-written in form, not much effort is spent by the firms to actually implement these policies and codes. For example, Merrill Lynch had policies requiring equities analysts to be totally objective, and yet most of its investment bankers acted as salesperson by manipulating reports on stock to attract and keep clients. Most of the fraudulent transactions were able to take place in these sophisticated, well-built Wall Street firms because these firms lacked strong internal control. The high incentive to generate revenue at all costs, the lack of transparency and information flow, and confusing ethical standard all contributed to the interest-conflicting corporate culture that many Wall Street firms have but refuse to ack nowledge. To have a strong internal control, the utmost important component is the â€Å"tone at the top† – a solid corporate governance. Strong corporate governance leads to a healthy control environment, which can really define the way a company functions and whether employees act on behalf of the best interest of the shareholders and clients. Aside from setting the mission statements, the top management should emphasize and enforce the values in professional integrity and ethical standard. Firms should set up proper Human Resource (HR) policies and training to make sure they have hired the right people who will do the right things. One of the major weaknesses in many Wall Street firms is their compensation structures. Many, if not all, Wall Street employees are rewarded by how much revenue they generate for the firm instead of the quality of service they provide to the customers. That is why investment bankers and stock analysts do not feel bad when they sold â€Å"junk† stocks to unsophisticated buyers as they are receiving multi-million dollars for doing so. Nonetheless, it is this form of distorted incentive that has pressured many to do unethical things even when they did not want to. Henry Blodget of Merrill’s Internal Research Group awarded InfoSpace highest recommended stock rating because Merrill’s Investment Banking (IB) division had an affiliation with an internet company that InfoSpace was going to acquire. He was pressured by the IB division, and eventually cooperated despite disagreeing because he was â€Å"paid to do so†. For â€Å"contributing† to Merrill’s IB operations, Henry’s annual â€Å"guaranteed† minimum cash bonus drastically increased from $3 million in 1999 to $12 million in 2001. HR should make more commitment to employee competence and evaluate them on the basis of the service quality instead of the profit-driven criteria. A better performance evaluation procedure can definitely enforce more ethical behaviors and due diligence within the firms. For many of these fraudulent practices to take place undetected and undeterred, it is clear that Wall Street firms also lacked check and balance. Have they properly enforced segregation of duties, authorization procedure, and documentation, it would make it much harder for these fraudulent transactions to go through. Analysts would review each other’s work to make sure trades are fairly assessed and authorized by the right senior personnel. Documentations are made so it would be easy for the manager to follow and back track the trade. Also more than one group of people would be working on the trade so they can all take responsibility for it if anything goes wrong. With proper check and balance, people would have less leeway to make ill-advised deals to the investors knowing that there are extra sets of eyes watching over them. These internal controls would have detected and prevented fraudulent transactions before they even had a chance to proceed. Wall Street firms would not have to worry about getting caught by the external parties – such as Spitzer’s and his crew – and face charges and public humiliation. In the 60 minute video we watched last class, Henry Markopolous complained about relative lack of action by SEC in moving to stop the Madoff scandal in its tracks. This point was reiterated again in this case as SEC played a rather passive role in the Merrill scandal as well as other fraud investigations Spitzer was involved in. It just seems that because SEC does an enormous number of investigations, it sets the limit of what it can do in terms investigation scope and response time to the fraud. Therefore, it made a strong enforcers like Spitzer even more if an important role for the public investors. Comparing to SEC’s long, formal procedure that requires committee voting to even issue a subpoena, Spitzer’s attorney generals’ office was a much more flexible, agile place where they can file suit with the court to take actions against fraud in a very short period of time. Spitzer’s use of publicity, although triggers criticisms such as â€Å"subverts due process to release undigested investigative files to the media before charges are filed†, was Spitzer’s way to show public the â€Å"shocking betrayal of trust† of some trusted Wall Street firms and allow the public to know what was going on. Given the authority by the Martin Act, Spitzer was able to sue the firms criminally as well, which means death sentence to any corporation. Nonetheless, Spitzer has never done so because his ultimate goal was not to â€Å"kill† the firm, but to rather remove the â€Å"tainted spots† from the firm, whether it is its CEO or any other executive position, so the firms can learn their lesson and become better corporate citizens – a result that ordinary settlements often fail to achieve. Therefore, I would conclude that Eliot Spitzer’s actions regarding Wall Street regulation were appropriate. Despite his sometime s extreme measures, no firms bankrupted and no employees lost their jobs. His greatest accomplishment came when he pushed Wall Street to its greatest reform since the Great Depression. On 2002, SEC, regulators, and the ten largest Wall Street firms agreed in principle to revise firms’ compensation plan to avoid conflicts of interest that have affected the research analysts’ independence and objectivity. The â€Å"Global Settlement† in 2003 has brought Wall Street giants – such as Credit Suisse First Boston, Merrill Lynch, and Salomon Smith Barney – to their knees with fraudulent charges which required a total of $1.4 billion fine to resolve the case. Spitzer has done the right thing to reform the Wall Street into a much more trustworthy business environment that would enhance the wellbeing of both investors and employees. It is clear that who is on the right side. Eliot did the right thing, given this authority by the Martin Act, to show It is a duty of a voter. And he used the authority for a good cause, which pushed Wall Street as SEC, Spitzer, I think Spitzer’s practices are fair because although he has the authority to He never did so because, but to rather allow the firms to learn their lesson –The Wall Street was successfully pushed to a reformation with his effort, and made it The problem with SEC is its conservative approach toward fraudsters. They are slow at reacting to frauds. Has too many investigations SEC has to handle. SEC has a formal procedures requiring the staff to vote from the five-member commission first to issue subpoenas and then to file suit. The enforcement and regulations were separate divisions in SEC: enforcers tended to focus on individual cases of wrongdoing while regulators looked at the overall pictures. Compare to SEC, Spitzer looked at both, and the attorney general’s office was a flexible, agile place where they can file an affidavit with the court at a very short time.