Children and Homelessness Essay Example | Topics and Well Written Essays - 1500 words

Children and Homelessness - Essay Example For those infants that get born to a family in a state of homelessness, they may be affected by low birth weights, and this increase chance of premature death. Such a child may also fail to be immunized due to reduced healthcare access. According to Reynalds (2009), there are about 50 million children in the United States who may be said to be homeless. The author further asserts that in a majority of the states, plans that seek to cater for the plight of these homeless children appears to be quite inadequate. Homelessness has been said to come about due to a multitude of other issues that entails the abuse of drugs by a parent, alcohol, domestic violence, or even mental illness. As Raynald (2009) has noted, chances of a homeless child experiencing hunger are twice those of a child who is not faced with a similar situation. Compared to children from stable homes, their homeless counterparts have been shown to have a twelve fold likelihood of getting enrolled to foster care. Homelessness has been defined as "the condition and social category of people who lack housing, because they cannot afford (pay for), or are otherwise unable (Or uninterested) to maintain, regular, safe, and adequate shelter" (Levinson 2004). In addition, the term could also take into account individuals who often reside at a shelter for the homeless. Moreover, individual that have been housed in a given residence pending institutionalization may also be categorized as being homeless. The definition also takes into account individual that are living in a private or public place, and which has not been recognized as being "a regular sleeping accommodation for human beings" (Polakow & Cindy 2001). The Urban Development and Housing Department of the United States (HUD), has issued a definition for persons that may be considered as being "chronically homeless". According to the definition by HUD, an individual who is chronically homeless is one who may be afflicted with a condition that is disabling, has had the status of being homeless for over a period of one year, or one who has experienced that status of a homeless individual in at least four incidents for the last three years (Rollinson & Pardeck 2006). What happens when young people become homeless Young homeless children are more likely to be living apart from their parents. In an instance whereby a young child gets detached from its parents, and especially the mother the ensuing negative effects that they experience may be quite long-term this is especially critical, if the separation takes place at the formative stage of childhood development ( that is between one and five years). For the pre-school children, the status of being homeless may very well result in the developmental delays those children demonstrates. As Allen (2004) has noted, close to 75 percent of the homeless children who are below the age of five years exhibits at the very list a significant deviant developmental-wise, especially with regard to speech or impulsivity. Furthermore, homeless children have a higher likelihood of being afflicted with emotional problems. By and large, children who are homeless have a tendency to not only cry at the slightest provocation, they also papers to overreact should they

MARKETING Essay Example | Topics and Well Written Essays - 250 words - 3

MARKETING - Essay Example ith only Apple products and hence the sales people are equipped with knowledge about the company products and this brings about customer satisfaction. In order to retain its customers, Apple continues to design and unveil new products like computer, iPods and iPhones among others (Schneiders, 14). Branding has to do with having desirable products, ideas, manifestos among other things and not solely about the name or logo of the company. Apple has adopted the emotion branding where it aims to connect with the emotions of the customers which emphasizes that their products are not just for physical but also emotional gratification. It has succeeded in this through having Apple Brand Personality where customers express their imagination, aspirations and dreams when using Apple products (Schneiders, 33). This explores issues of pricing, architecture, consistency among other issues that the company holds of value. In Apple, their value strategies mainly revolve around the monolithic architecture of all their products in such a way that they are recognizable by anyone. They have also ensured consistency of the products they make and especially the computer quality and technological desirability. Compared to other companies that are competitors of Apple, this company’s product prices are fair and match the quality of their products (Schneiders,

How business works Essay Example for Free

How business works Essay Introduction In this assignment I will be producing a case study on large/medium sided businesses, showing of how business works. My chosen company is McDonalds. The following will be including in my case study: * A description of what the business does, its aims and objectives. * A description of the purposes and activities of human resources and any other three functional areas. * A description of how effectively different areas of the business communicate. * A description of how the structure of the business is different from another organisations structure. * A record of my sources information. McDonalds Restaurant OverView McDonalds is a large fast food chain of restaurants operating world wide, started in America and has outlets in other places such as, India, Cyprus. In many countries McDonald s sells variations of its food to cater for local tastes. They are also known for being multicultural because of the different cultural foods in their restaurants. Because of their huge volume of sales McDonalds has strong purchasing power with its suppliers and is therefore able to sell food very competitively. By the end of 2001 their was 1,184 restaurants in the UK alone. They had a target to get over 80 new restaurants opened by 2002, and that was achieved. By opening over 80 new restaurants they employed 4,800 new employees. ACTIVITY, AIMS OBJECTIVES (P1, D2) Main Activity The main activity of McDonalds is selling fast food. They aim to provide a customer service, there are 1.5 million employees working for McDonald restaurants in the 119 countries, which all have the same daily activities which involves the staff in greeting, serving and helping customers with any enquiries or problems. They are the largest food service company in the world, so its important that all employees work together to succeed their aim. Main Aim McDonalds main aim is to provide customers with a fast food service in order to obtain a profit for its shareholders. McDonalds are committed to conducting their business with the environment in mind. McDonalds mission statement is To be the worlds best quick service restaurant. This is being achieved through five strategies such as; * Development: Lead the quick service restaurant market by a programme of site development profitable restaurant openings. * Our People: Achieve a competitive advantage through people who are high calibre, effective, well motivated and feel part of the McDonalds team in delivering the companys goals. * Restaurant Excellence: Focus on consistent delivery of quality, service and cleanliness through excellence in our restaurants. * Operating Structure: Optimise restaurant performance through the selection of the most appropriate operating, management and ownership structures. * The Brand: Continue to build the relationship between McDonalds and our customers in order to be a genuine part of the fabric of British society. Objectives McDonalds objective is to be the bests quick service restaurant and believes and believes that this involves avoiding damage to the environment at a local and global level. The company aims to ensure that its operations today do not have an effect on the lives of future consumers. McDonalds is involved in an ongoing programme with the aim to improve the environment, they do this by reusable packaging and recycling. Functional Areas within McDonalds (P2, M1, D2) HUMAN RESOURCES The Human Resources department concentrates on employees who work for the McDonald restaurants. Human Resources department include managing staff and their welfare, so the safety of their staff is taking very seriously, this all comes under Health and Safety. Staff have to be careful not to use computers/tills for long periods of time because they can suffer from eyestrain, tiredness or stress. McDonalds is improving communication systems by installing panic buttons for the safety against violent customers. McDonalds employees have to work together to ensure a hazard free zone, by adhering to the health and safety regulations. McDonalds puts new employees on to a training system, to make sure if an accident happens which involves either a member of staff or a customer getting hurt, then the employee will be able to handle the situation effectively. McDonalds restaurants work to high standards, which meets and mostly exceeds the rules and regulations. The company always aims for the highest standards given in guidelines because of health and safety regulations and to expand the business. If McDonalds didnt meet the requirements than they would be closed down by the health and safety executives. The Human Resources department contributes to McDonalds activity by making sure: * They employ the right staff * Making sure the store is a hazard free zone These things contribute to the activity of McDonalds because without them they wouldnt be able to achieve their aim, so its important that all the different departments work together to succeed it. Recruitment, Training and Development When recruiting staff McDonalds look for people who have a positive attitude towards customers, themselves and other employees, and who are capable of delivering the highest standards of quality, service and cleanliness to our customers. Then potential employees are trained, promoted and treated on the basis of their relevant skills, talents and performance and without reference to race, colour, nationality, ethnic origin, sexual orientation, gender, marital status, age and disability. McDonalds management development curriculum takes new recruits form trainee manager to restaurant manger. They have on-the-job training and open learning development modules, backed up with courses and seminars at the companys national and regional training centres. Hourly paid staff receive continuous on-the-job training by computer based training and other training materials. When employees complete their initial training staff members are awarded a basic certificate in food hygiene. Employees Below are the figures of the staffs gender and age status. By the end of 2000 McDonalds employed 49,726 members of staff: * 46, 207 restaurant crew * 2, 974 restaurant management crew * 545 office staff Health and Safety McDonalds always aims for the highest standards (and mostly exceeds), so they can achieve its aim and be the best quick service restaurant. If McDonalds didnt meet the requirements of the health and safety act 1974 than they would be closed down by the health and safety executives. The most common hazards which occur in a work place are: 1. Leaving the work place untidy and dirty 2. Leaving floors wet and stairs 3. Leaving wires to trial across passageways 4. Frayed carpet or loose tiles 5. Equipment just left all over work surfaces 6. Too many plugs inserted into only one electric socket The human resources department has to make sure that all health and safety regulations are met. If they are not met then it can be closed down, also if the restaurant is unclean then it could loose customers and wouldnt keep up their activity to be the best selling fast food restaurant. Customers wouldnt want to go to a dirty restaurant, where there are a lot of hazards going on such as; wet shop floor, bins over filled, dirty tables and a unclean kitchen area. If any of these hazards occurred in any McDonalds restaurants customers could become ill or hurt, which would result in McDonalds going to court or having to closed the McDonalds restaurant down. Management training includes coping with emergency situations that could arise in a restaurant. This is because it decreases the risk of people being injured or the buildings being damaged in the McDonald restaurants. When an accident has occurred the manager then has to write out what happened and then investigate on the matter. Training is the main priority to ensure the consistency of the restaurant operation, and the highest levels of customer service and care. Every McDonalds franchisee must successfully complete a training programme which takes on average nine months to complete. Trade Union The workers are represented by union of shop, distributed and allied worker. Job Roles In Human Resources Job Roles In the Human Resources function Carmel Flatley, Human Resources Director I am the human resources director of McDonalds and I have the overall decision of anything that happens in this department. I also have to make sure that the human resources department dont go over their budget. Paul Smith, Human Resources Manager I look after the whole HR department and staff, involved with industrial relations and trade unions negotiations, implementing the organisations HR policies. Gemma Wilson, Recruitment officer I deal with recruiting people, thats sending out application forms, making interviews for potential employees. Potential employees dont need to be experience in any way, because McDonalds is committed to training their staff and improving the skills of staff. Matthew Lawrence, Health and Safety Officer I deal with all health and safety matters, accident monitoring and staff welfare. That involves making sure that the shop floor is a hazard free zone for customers and clean and tidy, making sure the kitchen is clean enough to work in. I am well trained in first aid so that if any accidents happen, I will be their to help. I also have to deal with complaints and try to solve them. FINANCE The finance is one of the most important functions as they record all the money going in and out of the business, they give a budget for each other department to spend to make sure they keep their level of income and expenditure. They would regularly check the amount of money each department has spend and made to see if they are on target or not. If a department has gone over their budget then the finance dept would check to see if there is enough money to lend those more. So the purpose of the financial function therefore is to: * Keep all the financial records required by the organisation, detailing all the receipts and payments that have been made * Prepare final accounts from these records as required by law * Monitor the income and expenditure of different departments against their budgets * Provide continuous, up to date financial information for managers about business performance * Pay salaries and wages to the staff * Pay amounts owing to suppliers * Control the levels of debts owed to the company * Obtain additional finance when required, from the most appropriate source * Advise senior managers on the financial implications of major decisions These contribute to the McDonalds activity by being apart of providing a good customer service by, paying the employees their salaries/wages, if they werent paid they wouldnt be no staff or it could result in the staff withdrawing their labour. Production will cease and the employer will lose revenue. By McDonalds receiving more capital they can improve the quality of the store or products so customers would be more pleased of the in store environment or pleased of what they have purchase. It would result in consumers returning to the store because of the good service and also bringing more money to the business which will also achieve their aim which is to be the best selling fast food restaurant. Job Roles in Finance Department JOB ROLES George Mackay, Finance Director I am the finance director and I am in charge of the whole finance department. It involves information services, new product development, quality assurance and supply chain. I have to make sure a product which is purchased has the right quality that is expected from consumers, and then have to put a price to it. The most important part of the finance department is the cash flow which is the movement of cash going in and out a business. As a finance director I have to gives advice to senior managers on the overall decision on financial matters. And also as a director I have the last say with what happens within the finance department. Christopher Bateman, Financial Manager I looks after the finance function and the staff. Advising on financial resources. As a manager I have to make sure that all work as been done well. E.g. they have to monitor the income and expenditure of all departments to make sure they havent gone over their budget. So after the staff have checked their cash flow I then have to then go threw it to make sure nothing has been missed out. Derek, Daniels, Ledger Clerk I have to assist the chief accountant in the recording of all financial transactions. So where the money goes or comes in I have to make sure the chief accountant has recorded it all effectively. If any mistakes have been made I then have to correct the errors. Nita Negi, Credit Control Clerk As a credit control clerk, I have to assist the credit controller in checking the credit status of new customers and existing accounts, and also Reminding customers or overdue payment. PRODUCTION Production is all about the process of making something. Product life style shows the stages of a product or a range of products. If it isnt successful it goes to decline stage. The activities of the production department are listed below: * Obtaining the resources required to produce goods or provide a service * Organising the resources to produce the goods or provide the service in the most appropriate way For the activities to be achieve they must consider the aim of the business which is to be the best selling fast food restaurant, so they have to find the best quality of food that suits them and then order it but first having to keep on target and not going over their budget by ordering expensive items or ordering to much that it all cant be produced/sold. Another thing they must consider is if the resources can be organised to achieve the aims, doing this they have to think about selling it cheaper then their competitors or having an offer like buy on get on free. They do this so it sells more because people wouldnt to spend more they would go to the most cheapest place or giving the product an offer can be appealing to the customers. The production department contributes to McDonalds activity by finding the right products at the right prices. When good quality products are sold at low prices it pleases customers and make them want to return, it also brings in more people as when a customer is pleased with the type of service they have receive the consumer then tells several other people, which makes then want to try it out. Job roles in Production Job Roles in Production Steven Cornway, Production Manager Responsible for the entire production function and its operations. What ever goes on has to be checked and authorised by me. Kim Karenga, Production Planners Plan all production to maximise machine use and staffing, taking account of customer requirements. Chris Walker, Production Controllers To check all production is going to schedule. Ted Osborne, Designers I am responsible for the actual design of the finished product. So if I dont like the way a product has been designed I can make remendments. MARKETING The object of marketing is to make sure that the right product is made and potential customers are persuaded to buy it. Market Research can be carried out through either primary or secondary research. Primary research means asking someone on their views or opinions. A way of asking potential customers of their views or opinions is to make sure a survey, having questions about a certain item. After the survey has been completed they will then need to send out the surveys to potential customers, by either online, over the phone, by post or giving out surveys (in stores. Postal surveys dont have much of a response as the others do as it takes more time e.g. sending it back, so when postal surveys are concerned their will usually have to be some kind of incentive offered for completing the survey, so customers would be tempted to fill it out. Secondary research is known as desk research. It consists to looking up facts or figures in books, magazines, computer databases, company files. So secondary research is looking at information that already exists instead of creating your own. McDonalds keeps a large amount of information on their databases about their customers and their buying patterns, also companies buy information from government statistics. Product The amount of products the customer wants, the quality wanted, the features and the styling that are preferred, whether packaging is important, whether a guarantee or after sales service is required. Strategies Is a long term plan for future success or development. Place McDonalds are located on high streets or town centres. Marketing contributes to the McDonalds activity by market research (finding out what potential customers wants/needs), and improving existing products. Both of these improve the customer service, marketing contribute a lot to their activity to make McDonalds achieve their activity. All the functions work together to achieve it. The job roles of Marketing Job Roles in Marketing Matthew Howe, Marketing Director I am responsible for the overall marketing function and its aims and objectives. So if any ideas have been thought of they have to been checked with me before anyone goes ahead and makes a change. Ethan Farah, Sales Manager As a sales manager I am responsible for overseas agents and the achievement of sales targets overseas. David Frank, Market Researchers Market researchers have to find out consumer opinions on current and proposed goods and services, if this is not done than they could bring out a product which isnt doesnt sell a lot and a loose the money they put in to produce the products. Advertising Manager An advertising manager is in charge of advertising and liaising with agency staff over publicity campaigns. Advertising is one of the most important things in marketing as without advertising a product will not be known so their would sell as well as products being advertised. EQUAL OPPORTUNTIES (P3, M2, D2) In a work placement an employee has rights and responsibilities. Below are the rights and responsibilities of an employee. Rights as an employee Employees rights How to carry it out Having safe working conditions Making sure that the area your working is a hazard free zone, if not consult your manager or the human resources area. It is also your job to take care with anything you do to prevent any hazards happening. Getting paid the fair salary/wage Depending on your age, experience and contract, employees get paid differently. You have to make sure that your getting a fair paid if not consult your manager. You should first read your contract because you might have signed for getting paid the amount youre getting. Provided information concerning your rights Before starting your job you will be provided with information about the rights an employee has. (mainly in your contract) If youre not provided with this information you are able to ask for it. Not to be discriminated on grounds of race, sex or disability If you feel that your getting treated unfairly according to your race, sex or disability your able to take up action like consulting your trade union. To be consulted over matters which will significantly affect your terms and conditions of employment If you employer decides to change something, which affects the terms and conditions on you employment and does not consult you first, you can take action upon this. Responsibilities for an employee Employees responsibilities How to carry it out To be ready and willing to work Its always good to be full with enthusiasm in your work because it looks good for the company and make you happier in your work To give a personal service Your contract will contain you main job roles, but its always good to provide your own service like putting your ideas into your work, smiling and just any other little thing. To treat others how you would like to be treated If youre rude and dishonest than fellow staff would treat you the same. Its important to work as a team and communicating well with other people, this can only be done if you treat people well. To work towards the objectives of the business Working towards the objectives of a business could look good on you and on the business, if the employer see s you are working hard than it could result in the employee being promoted. To work in good faith Working in good faith consists of being honest, if youre honest it again can see that youre trustworthy and could get promoted. But yet if your seen lying than you could loose your job. COMUNNICATION (P4, M3, D1, D2) Most organisations have different ways of communicating, communicating is one of the most important things in a business, because without communicating you cannot run a business effectively. They are all types of communicating, below is a list of ways of communicating within a business. * Meetings * Group discussions * Tele phone * Memos * Emails * Draft letters * Reports * Faxes There are two main methods of communication which are oral and written communication. Oral communication could be either face to face or the over the phone. If you cant get threw to the person you are calling then you can leave a message which is still oral communication. Written communication could be sent by mail or transmitted electronically. This can include letters which is the most common one, text messages on mobile phones or notices on notice boards. Below are the advantages and disadvantages about oral and written communication. Oral Written Advantages 1. Its a fast way of communicating because you dont have to write things down. 2. Its cheap, as if you phone someone you would have to pay for the phone call. 3. Immediate feedback, you dont have to wait ages for someone to reply back to you as you would in a letter. 1. Writing a message can be retained for future reference. 2. Writing a message can also be copied for other peoples uses. 3. Creates a distance between sender and recipient useful for difficult communication, e.g. bad news. Disadvantages 1. Clear Speech, you must speak very clearly so that other people can understand you, but yet when you write a letter people can just read it in their own pace. 2. Long or complex messages can be forgotten. 3. You can be easily distracted while someone talks to you, and then you could forget the whole message they just told you. 1. When writing a letter it can take time to write, while if your talking to someone its faster.] 2. Keyed in documents need to be skilled and produced quickly and accurately. 3. Delivery can take time, or could be delayed. McDonalds functional areas communicate with each other by a system called Intranet which was launched in 2000. The McDonalds intranet provides a fast and up to the minute source of information for the McDonalds restaurant management and office staff. McDonalds external communication is dont by a system called McNews which was launched in 2000. McNews is a award wining magazine which was published monthly for all restaurant staff, then in 2002 McNews was re launched as MDUK and is now a lively focused magazine. MDUK has activities and events from restaurants around the country. MDUK is a showcase for best practice, recognising individuals outstanding practices and achievements, as well as highlighting internal and external awards. Apart from the Intranet and MDUK, McDonalds also has other ways of communicating within the business, they are listed below. 1. An email system operates in all offices and company owned restaurants 2. Regular staff communication sessions are held in the offices 3. Employee satisfaction surveys for both office and restaurant staff are held annually. 4. Meetings are held monthly. 5. Memos send daily An email system is to contact anyone within the business or outside the business, the email system is a fast and easier way to contact people. The email system is used by most companies and general people all over the world. Staff communication sessions are held to improve of employees communication skills. This is important because communicating with customers is one of the main things to do. Employee satisfaction surveys are handed out every year, so employees can write how they feel working in the McDonalds restaurants. This is a good thing to do because its important to keep the staff happy as it motivates the staff to work harder. Meetings are held every month to discuss the McDonalds performance. They also talk about how much they are making and see what can be improved with the money. McDonalds talks about new ideas and try to change or promote things that is not doing so well. This is a good way of communicating as you get to talk face to face to see the expressions on each other faces and its faster as you dont have to way for a reply if you do if you was writing an email. Memos are used daily in all of the departments. Sales manager might send a memo to human resources manager and ask if he has found a sales person. Memos are used daily because they are important little messages, and its also a fast way of sending.

Directors Duties in Company Law

Directors Duties in Company Law Solution: Facts and Issues: In this case Mario is the Director of FWPL Company. Mario decides to contact Simon with the intention to acquire his shares in FWPL. As a Managing Director, Mario knows that there is a good chance that Company will in near future enter into a distribution agreement with a leading retailer in the United States that will enhance the value of the business. The issues in this case are as hereunder:- Duty of care or (directors duty of care to the company and to the members). Duty of good faith. What duties director owes to the company? (Bostock, 2012) Rules: Section 180 (1) of the Corporations Act 2001 incorporates the Duty of diligence and care. This provision states that a officer or Director of a corporation shall exercise the powers vested in him and discharge their duties with a degree of care and diligence which is exercised by a reasonable person if they: Were a officer or director of a corporation in the circumstance of corporation; and held or Occupied the office by, and bear the same responsibilities within the corporation as the Director or the officer. The reference reasonable person indicates an objective level of care which is consistent with the development of a duty based on trust. The balance should be between the foreseeable risks of harm against the potential benefits that can reasonably affect the corporation from the questioned conduct(Lowry, 2012). Section 181 Duty of good faith. An officer or Director of a corporation shall exercise their powers and discharge their duties: In the best interests of the corporation and in good faith For a proper purpose This provision embodies fiduciary duty on directors of the corporation to act Bonafide and in good faith for the advantage of the corporation, and provides with an obligation to act honestly(Barasnevicius Quagliato, 2008). Section 182 Duty of Director not using his position improperly. A director of a corporation shall not use their position improperly to gain an advantage either for themselves or for some other person. The director shall not make improper use of their position in such a way that it causes detriment to the corporation. This section is determined to be violated when a director is engaged in a conduct with the intention and objective of obtaining an advantage regardless of the fact whether that advantage occurred or not (Ho Lee, 2007). Section 183 Duty not to use information obtained as a director improperly. When a person obtains some information because he has been or is a director of the corporation, then he must not use that information in improper way to have an advantage for himself or any other person (Kottow, 2010). Application: Section 180 of the corporations Act 2001 attracts a civil obligation that a officer of the corporation or director of the corporation must at all reasonable times show a proper degree of care and diligence in the execution of their duties and powers. Section 180 (2) provides a rule of business judgment whereby a director is required to: Make their judgment for a proper purpose in good faith The director should not invest his personal interest of material nature in the matter of the concerned judgment. Should inform themselves regarding the matter of the judgment to the extent they believe to be appropriate. The directors believe that the judgment is made with the advantage of the corporation. In this case the decision of Mario to acquire Simon’s shares is based on his personal interest and violates the duty of care and diligence (Bainbridge, n.d.). The duty of good faith as per section 181 of the corporations Act 2001 is violated. Section 181 requires that the director must entertain his duties in good faith in the best interests of the corporation and. In this case Mario is not discharging his duties for a proper purpose for the advantage of the corporation rather he has been intended to have a personal advantage which shall not be in the advantage or interest of the corporation. On the other hand, this is also not for the proper purpose. Proper purpose under this act refers a purpose which is in the interest of the corporation. A civil obligation is imposed on the directors and other officers under section 181 to exercise their duties and powers in good faith and in the interests of the corporation. It has been provided that if the directors use their powers of their personal interest, the advantage of any other party, then it shall be considered to have breached this duty under section 181. It is important to note that under section 184 (1) breach of this duty shall be considered as a criminal offense if the director was intentionally dishonest (Lim, 2013). The duty provided under section 182 not to make improper use of position and under section 183 not to make improper use of information has been violated in this case. Here Mario has used his position in an improper way for his personal interest and benefit rather than for the benefit of the corporation or the members of the corporation. Mario has also used the information which he obtained because he was a managing director has violated and breached the duty under section 183 of the act. Conclusion: It can be concluded from the above analysis that in this case Mario being the Managing Director has breached the duties under section 182 and 183 of the Corporations act 2001. Mario has used his position and information he obtained being in the position of Director of the corporation for his personal interest and benefit. Mario has failed to perform his duties in good faith against the corporation as well as against Simon. In this case Mario has breached the duties to act in good faith in the interest of the corporation for a proper purpose. Mario has breached his duties against the corporation and the members of the corporation both. Question 2: Facts and Issues: In this case JV Mine Pty Ltd is jointly held fifty percent by GML and the other fifty percent by QMNE. In 2009, QMNE approached GML, the shareholder in JV Mine, to make another big investment in JV Mine, to offer it to develop a copper mine. The directors of GML delegated to others, which included a geologist, the work of collecting the technical information relating to the quantum of copper that the company might be able to be mined. The report, which was prepared for the directors showed that the investment offered in the mine shall be very fruitful. Queried by other directors regarding the optimistic results, Mr. Chester (who has a geology qualification) assured them that all reports seem to be in order. But it was discovered that some of the facts had been negligently included in the report. This means that, if the directors believe the report and invest funds of GML’s in the mine, the investment will not be as successful as the report has declared. The issues in this case are as given hereunder: What should be standard of care for the directors? Duty of care is same for all or less for others or special for one? Is it special for directors who have geological qualification? Mention responsibilities of decisions, all decisions can’t be positive (Bruner, n.d.) Rules: Section 180 (1) of the Corporations Act 2001 provides the duty of care and diligence for the directors of the corporation. It states that an officer or director of a corporation shall exercise the powers vested in him and discharge their duties with a degree of care and diligence which a person of reasonable prudence would exercise if he: Held the position a director or officer of a corporation in the circumstance of the corporation; and Occupied the office or position held by, and hold the same powers in the corporation as the Director or the officer (Lipson, n.d.). The standard of care which is to be observed by the directors of the corporation should be as expected from a person of reasonable prudence would have shown if he was a director or held the same office with the same responsibilities. In other words the standard of care which is required from the directors is that same for a person of ordinary and reasonable prudence. The directors have a duty to act in the advantage and interests of the corporation. Directors have a duty to directly avoid conflict of interests (DIRECTORS PERSONAL LIABILITY FOR CORPORATE FAULT, 2007). An objective standard of care was developed by Australian courts in the case of Daniels V Anderson (1995) 13 ACLC 614 (Cassidy, J.1997). Duty of care is same for all the directors of the corporation. The law does not provide for difference in liability of directors. All the directors are expected to act with their diligence and care and perform their duties with such care that no loss is caused to the corporation (Art, R. C.2003). Special standard of care is expected from the directors who are skilled or have special knowledge of a technical question involved. Where the question is related to a technical point and any of the directors have special knowledge or skill related to that question then the standard of care expected becomes as that from an expert (Gordon, R. 2003). Application: In this case it is the duty under section 180 (1) of corporation act 2001 of the directors to act with care and diligence. The standard of care expected was as that of a person of ordinary prudence. The directors of GML fulfilled their duty of care by delegating it to others, including a geologist to obtain technical information on the amount of copper that could be mined. It was the duty of the directors to take the decision that whether the investment will be successful or not. In this case the duty of care is same for all the directors and a duty of care was special for the director who had a special knowledge of geology. It comes within the scope of duty of care that the directors make sure that the report submitted before directors should be verified. In this case Mr. Chester, who has a geology qualification, had a special standard of care in this case because he had the special knowledge of the subject. So in this case the duty of care has been breached by the directors of GML as the report showed the amount of profits was not accurate or reasonable. As it was discovered later that some information in the report was negligently prepared. So it comes within the breach of duty of care when the directors fail to obtain a reasonable report and the facts in the report are based on negligence that means the duty of care has not been fulfilled as of the expected standard (Harding, D. 2001) Conclusion: In this case the duty of care was vested in the directors of the GML as to the question of the amount of copper which could be obtained from the mine. The directors had a special standard of care expected from them. The directors delegated to others to obtain the information on technical points about the quantum of copper which could be achieved from the site. It was discovered later that the report, though in order, but it has included the facts of profit which are negligent and not reasonable. So it can be concluded that the directors of GML breached their duty of care in this case (Premiers.qld.gov.au, 2015). References: Bostock, T. (2012). The Corporations Act 2001.Ac,2002 (39). Lowry, J. (2012). The Irreducible Core of the Duty of Care, Diligence and skill of Company Directors: Australian Securities and Investments Commission v Healey.The Modern Law Review,75 (2), 249-260. Barasnevicius Quagliato, P. (2008). The duty to negotiate in good faith.Int Jnl Law Management, 50 (5), 213-225. Ho, L., Lee, P. (2007). A DIRECTORS DUTY TO CONFESS: A MATTER OF GOOD FAITH?The Cambridge Law Journal,66 (02), 348. Kottow, M. (2010). The improper use of research placebos.Journal Of Evaluation In Clinical Practice,16 (6), 1041-1044. Bainbridge, S. The Business Judgment Rule as Abstention Doctrine.SSRN Journal. Lim, E. (2013). Directors duties: improper purposes or implied terms?Legal Studies,34 (3), 395-418. Bruner, C. Is the Corporate Directors Duty of Care a Fiduciary Duty? Does it Matter?SSRN Journal. Lipson, J. Directors Duties to Creditors: Volition, Cognition, Exit and the Financially Distressed Corporation.SSRN Journal. DIRECTORS PERSONAL LIABILITY FOR CORPORATE FAULT. (2007).Tilburg Law Review,14(4), 481-482. Has the sleeping director finally been laid to rest?Australian Business Law Review,25(2), 102-117. Shareholder rights and remedies in close corporations: Oppression, fiduciary duties, and reasonable expectations.Journal of Corporation Law,28(3), 371 Do publicly traded corporations act in the public interest?Advances in Economic Analysis Policy,3(1), 1013 Referral of powers paves way for Australias corporations act.International Financial Law Review,20(4), 57-58. Premiers.qld.gov.au,. (2015).7.3 Corporations Act 2001 (Cth) (the Corporations Act) Welcome Aboard Department of the Premier and Cabinet.

Analysis of Robert Frosts Fire and Ice Essay examples -- Frost Fire a

Analysis of Robert Frost's Fire and Ice      Ã‚  Ã‚   For Robert Frost, poetry and life   Ã‚  Ã‚  Ã‚  Ã‚   were one and the same.   In an interview he said, 'One thing I care about,   Ã‚  Ã‚  Ã‚  Ã‚   and wish young people could care about, is taking poetry as the first form   Ã‚  Ã‚  Ã‚  Ã‚   of understanding.'   Each Robert Frost poem strikes a chord somewhere, each   Ã‚  Ã‚  Ã‚  Ã‚   poem bringing us closer to life with the compression of feeling and   Ã‚  Ã‚  Ã‚  Ã‚   emotion into so few words.   This essay will focus on one particular poem,   Ã‚  Ã‚  Ã‚  Ã‚   the meaning of which has been much debated due to the quantity of words   Ã‚  Ã‚  Ã‚  Ã‚   used, or the lack there-of.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   There have been many readers of Frost's poem "Fire and Ice", thus   Ã‚  Ã‚  Ã‚  Ã‚   being interpreted in many ways. Many readers would interpret the poem to   Ã‚  Ã‚  Ã‚  Ã‚   mean something about 'the physical end of the world, or the end of the   Ã‚  Ã‚  Ã‚  Ã‚   physical world' (1).   Lawrence Thompson views the poem as hinting at the   Ã‚  Ã‚  Ã‚  Ã‚   destructive powers in "the heat of love or passion and the cold of hate,"   Ã‚  Ã‚  Ã‚  Ã‚   sensing that "these two extremes are made so to encompass life as to be a   Ã‚  Ã‚  Ã‚  Ã‚   gathering up of all that may exist between them; all that may be swept   Ã‚  Ã‚  Ã‚  Ã‚   away by them" (2).      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Upon closer examination of "Fire and Ice", I found a distinct   Ã‚  Ã‚  Ã‚  Ã‚   parallel that closely mirrors the tale of Dante's Inferno. The Inferno is   Ã‚  Ã‚  Ã‚  Ã‚   the first part of Dante Alighieri's poem, the Divine Comedy, which   Ã‚  Ã‚  Ã‚  Ã‚   chronicles Dante's journey to God, and is made up of The Inferno (Hell),   Ã‚  Ã‚  Ã‚  Ã‚   Purgatorio (Purgatory), and Paradiso (Paradise).   In The Inferno, Dante   Ã‚  Ã‚  Ã‚  Ã‚   begins his journey on the surface of the Earth, guided by the Ro... .... Much later, and in what I think is   Ã‚  Ã‚  Ã‚  Ã‚   'a veiled tribute to Robert Frost', John Ciardi translates these lines   Ã‚  Ã‚  Ã‚  Ã‚   as(2):   Ã‚  Ã‚  Ã‚  Ã‚   I come to lead you to the other shore,   Ã‚  Ã‚  Ã‚  Ã‚   into eternal dark, into fire and ice. (3.83-84)      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Works Cited:      Ã‚  Ã‚   http://www.epcc.edu/Faculty/joeo/fire_scientific.htm. Online. Netscape Navigator. Feb. 4, 2001.    Thompson, Lawrance. Fire and Ice: The Art and Thought of Robert Frost. New York: Henry Holt, 1942.    Dante Alighieri. The Inferno. Trans John Ciardi. New York: Mentor, 1954.    Dante Alighieri. The Divine Comedy of Dante Alighieri. Vols. 9-11. Trans. Henry Wadsworth Longfellow.    http://www.divinecomedy.org. Online. Netscape Navigator. Feb. 5, 2001.   

The European Union - Dilemmas, Asymmetries and Equilibria of European Integration :: Essays Papers

The European Union - Dilemmas, Asymmetries and Equilibria of European Integration The European Union has been vacillating between a Federation and a Common- wealth approach. An unpleasant situation has evolved, where all participants feel they are cheated: large States think their smaller partners wield disproportionate clout, small States fear their marginalisation. No system of checks-and-balances seems to exist e.g. in the field of Monetary Union. Moreover, no real solution has been proposed for the difference in development levels within the ever-closer Union and no credible equilibrium has been sought between the competitivity race on one hand and a  «social profile » for the Union on the other. A series of re-equilibrations has to occur in Europe for the future to happen without shocks. Whatever shines is not made of gold The long-winded negotiations of the IGC ad the much-hailed Amsterdam Treaty have brought little change to the European Parliament. One technical point, though, may lead to an important future shift in priorities. The maximum number of EuroMPs has been fixed at 700; thus if enlargement takes place as expected, the number of sitting EuroMPs of present EU members will have to shrink. For a country like Greece, this would give 21-22 members instead of the present 25. This should lead to a more rational choise of postings on the part of EuroMPs, who have been neglecting useful and even powerful Committees so as to sit on more decorative functions. EU: Greece Admitted As Member Of Euro Common Currency Greece thus becomes the 12th member of the currency union, and the first to join since the project was launched just 18 months ago. Greeks are jubilant, saying the move represents a recognition of the economic maturity achieved by their country. Athens-based media commentator Andreas Papageorgopoulos, who was at the summit site in Porto, put it this way: "For Greece it's a big day, it proves that the Greek people through their government in the last few years have achieved an enormous task. They have overcome a number of obstacles, and now we are not at the door of Europe, but virtually inside." But not everybody views the Greek accession as positive. The infant euro has had a hard time since its inception, losing almost a quarter of its value against the U.S. dollar because of lack of investor confidence. German bankers and financiers, in particular, have been outspoken in their belief that including in the euro Greece, a country traditionally plagued by economic problems, would send the wrong signal to the markets.

Malaysian Airlines vs Air Asia

Malaysia Airlines Introduction Malaysia Airlines, the country’s national carrier, was first incorporated as Malayan Airways Limited (MAL) on 12 October 1937. It was a joint initiative of the Ocean Steamship Company of Liverpool, the Straits Steamship of Singapore and Imperial Airways which led to a proposal to the Colonial Straits Settlement government to run an air service between Penang and Singapore. On 2 April 1947, MAL took to the skies with its first commercial flight as the national airline.Fuelled by a young and dynamic team of visionaries, the domestic carrier turned into an international airline in less than a decade. With the formation of Malaysia in 1963, the airline changed its name to Malaysian Airlines Limited. In 1965, with the separation of Singapore from Malaysia, MAL became a bi-national airline and was renamed Malaysia-Singapore Airlines (MSA). However, in 1973, the partners went separate ways. Malaysia introduced Malaysian Airline Limited, which was subseq uently renamed Malaysian Airline System or in short, Malaysia Airlines.Today, Malaysia Airlines flies an average of 43,000 passengers daily to some 100 destinations worldwide and holds a lengthy record of service and best practices excellence. It was the recipient of the inaugural â€Å"World's Best Cabin Staff† award by Skytrax,UK in 2001 and continued to retain this title for 2002-2004, 2007 and 2009 – the most for any airline. In 2010, Malaysia Airlines was recognised as the ‘World's Leading Airline to Asia’, ‘Asia's Leading Airline’ and ‘Asia's Leading Business Class Airline’ by World Travel Awards (WTA). This year, WTA honoured Malaysia Airlines as ‘Asia's Leading Airline’ and ‘Asia's Leading Airline Lounge’.The national carrier's engineering subsidiary, Malaysian Aerospace Engineering (MAE), has also been acknowledged as the top airline affiliated Maintenance and Repair Organisation (MRO) in the wor ld by Aviation Week's Overhaul & Maintenance magazine. Its current fleet includes Boeing 747-400, B777-200, Airbus 330-300, Airbus 330-200, Boeing 737-800 and Boeing 737-400. By the second quarter of 2012, Malaysia Airlines will also join the league of the Airbus A380 operators, when the first of the six aircraft ordered enters into service. The national carrier will be the eighth airline in the world to operate this biggest commercial aircraft.Malaysia Airlines is set to join oneworld by end of 2012, adding one of aviation's most frequent award winners to the world leading quality airline alliance. When it becomes part of oneworld, its customer will gain access to the alliance's truly global network. It will expand oneworld's global coverage to almost 950 destinations in 150 countries, served by a combined fleet of more than 2,600 aircrafts operating some 10,000 flights a day. AirAsia Introduction AirAsia is a Malaysian-based low-cost airline. AirAsia is Asia's largest low-fare, no -frills airline and a pioneer of low-cost travel in Asia.AirAsia was established in 1993 and began operations on 18 November 1996. It was originally founded by a government-owned conglomerate, DRB-Hicom. On 2 December 2001 the heavily-indebted airline was bought by former Time Warner executive Tony Fernandes's company Tune Air Sdn Bhd for the token sum of one ringgit with USD 11 million worth of debts. Fernandes turned the company around, producing a profit in 2002 and launching new routes from its hub in Kuala Lumpur, undercutting former monopoly operator Malaysia Airlines with promotional fares as low as MYR 1.In 2003, AirAsia opened a second hub at Senai International Airport in Johor Bahru near Singapore and launched its first international flight to Bangkok. AirAsia has since started a Thai subsidiary, added Singapore itself to the destination list, and started flights to Indonesia. Flights to Macau began in June 2004, and flights to mainland China (Xiamen) and the Philippines (Manila) in April 2005. Flights to Vietnam and Cambodia followed later in 2005 and to Brunei and Myanmar in 2006, the latter by Thai AirAsia.On August 2006, AirAsia took over Malaysia Airlines's Rural Air Service routes in Sabah and Sarawak, operating under the FlyAsianXpress brand. The routes were subsequently returned to MASwings a year later, citing commercial reasons. Qualitative characteristics Qualitative characteristics of accounting information refer to the characteristics that must be present in the accounting information to make it useful. These characteristics are divided into two categories; primary and secondary qualities. primary qualities The primary qualities of accounting information are relevant and reliability. a) Relevant In everyday terms, we might describe relevant as important or being related. In accounting, relevant is described as something that makes a difference in arriving at a decision. In other words, something is said to be relevant if it influences o r affects the decision being made. The extent to which information is considered relevant depends on its importance in decision making and may differ between one decision maker to another. Information that is relevant to you might not be relevant to another person and vice versa.To become relevant, the information must have three characteristics, namely feedback value, forecast value and timeliness. (i) Feedback Value Relevant information must be able to assist users in substantiating or correcting early expectations matters at hand. (ii) Forecast Value Relevant information must be able to assist users in forecasting. (iii) Timeliness Relevant information must be obtained before it becomes obsolete or unusable. (b) Reliability Reliability means that users can rely or depend on the said information to make good decisions.This characteristic is important because users might not have the time or expertise to evaluate some information. Generally, users simply depend on the information p resented by the related entity and assume it to be true. This information is then used in decision making. Reliability does not mean that the said information must be precise. This is because in accounting there are a lot of information that involves estimation and approximation that might not be precise. What is important is that the estimation and approximation made must be reliable.Reliable information must have the following characteristics: (i) Verifiable This means that the accounting information could be verified objectively by another person using the same method. (ii) Objective Objective in this case means that the information is not biased. Information contained in the financial statements must be able to fulfil the requirements of various users and not concentrating on certain groups only. (iii) Trustworthy Information presented is based on the actual result of economic activities using specified methods. secondary qualities. The secondary qualities are comparability and consistency. c) Comparability Comparability means that the information can be compared whether among companies, industries or different periods. This will enable users to identify the similarities or differences that might exist in the said information. This characteristic is important because information that can be compared is more useful. (d) Consistency Consistency means that an entity must use the same accounting procedures in every period. It is for the purpose of enabling comparison to be made more effectively. In other words, a company cannot change their accounting procedure every year.This does not mean that the company cannot change the accounting procedure at all. Changes can still be made, but the company must make complete disclosure in the financial statement to explain to the users why they are making the changes and the effect of the changes towards the financial statements. In summary, accounting information is only useful if it has relevant, reliability, comparabi lity and consistency qualities. Statement Of Comprehensive Income Referring to the Annual reports for the year 2010 and 2011 it shows Air Asia gained a revenue of RM 4,495 Million for the year 2011 as compared to RM 3,948 Million for the year 2010.There was an increase of 547 Million, However, the net profit of the company after tax have shrunk down from RM 1,061 Million in 2010 to RM 555 Million Therefore, The company’s profit after tax have reduced by RM 506 Million. Malaysian Airlines gained revenue of RM 13,901 Million for the year 2011 as compared to RM 13,585 Million for the year 2010. There was an increase of 316 Million, However, company is facing a big loss after tax for the two years A loss of RM 237. 3 Million in 2010 to a loss of RM 2,521. Million in 2011 Therefore, with this information available the investors can see that Air Asia is having a good profit after tax but Malaysian airlines is in big loss after tax. Statement of Financial Position Total asset of Air Asia as on 2010 is RM 13,240 Million and got increased to RM 13,906 Million in 2011. Malaysian Airlines had a total asset of RM 613,639 Million in 2010 and increased to RM 815,468 Million. Statement Of Cash Flows One of the important point investor should look for when investing in a potential company is the company’s ability to produce cash.Just a pointer it is not necessary for a company that shows a profit in an income statement does not mean that it cannot get into problems later because of insufficient cash flow According to the Statement of Cash Flows in the annual report of Air Asia, The cash flow from operating activities is RM 1594 million in the year 2010 and RM 1404 Million in the year 2011 The cash flow from investing activities is RM 1868 Million in the year 2010 and RM 487 Million in the year 2011 The cash flow from financing activities is RM 1031 Million in the year 2010 and RM 300 Million in the year 2011 The net cash flow for the year 2010 is RM 757 million and RM 617 Million for the year 2011.According to the Statement of Cash Flows in the annual report of Malaysian Airlines, The cash flow from operating activities is RM 105. 5 million in the year 2010 and RM 960 Million in the year 2011 The cash flow from investing activities is RM 3362. 6 Million in the year 2010 and RM 1341. 6 Million in the year 2011 The cash flow from financing activities is RM 2922. 4 Million in the year 2010 and RM 1310. 4 Million in the year 2011 The net cash flow for the year 2010 is RM 1851 million and RM 860 Million for the year 2011. Statement of Changes in Equity The statement of changes in equity represents a company profit or loss for an accounting period.The items of income and expense which is recorded in the Statement of Comprehensive Income for the period, the effects of changes in accounting policies and corrections of error recognised in the period, and the amounts of investments by, and dividends and other distributions to, equity investors durin g the period. (didn’t find much info) ASSESSMENT OF INFORMATION RELEVANCE Information relevance refers to the feedback value, forecast value and timelines. If the net income and its components confirm investor expectations about future cash-generating ability, then the net income has feedback value for investors. This confirmation can also be useful in predicting future cash-generating ability as expectations are revised. For information to be relevant, it needs to be predictable. By looking at the data, forecast can be made whether income will be acquired. The last characteristic is timelines.To be relevant, the data should be up to date not outdated. The annual report of both Air Asia And Malaysian Airlines is available in their official website. There, they have an archive that lets you download the annual report according to year.. ASSESSMENT OF INFORMATION RELIABILITY Sometimes, the information given by the organization is the only data that the user depends on. This cou ld be because of lack of knowledge to assess the information and lack of time to do so. In this case, the user must make sure the information given can be relied upon. To assess reliability, we have to think about three matters which are verifiable, objective and trustworthy.Verifiable means that the information can be validated by someone else. Both Air Asia and Malaysian Airlines annual report can be downloaded by everyone who owns a laptop or desktop. That means that the information can be verified by everyone else. From the 2009 annual income to the the 2010 net profit, it can be checked by everyone else. It is important to get someone who knows what to look for to validate the information for you. Without their validation, decision making can be hard to do. Make a conclusion that air asia is having a good profit but Malaysian airlines is going with heavy loss So its safe to invest with air asia than with Malaysian airlines