Business Essay Example | Topics and Well Written Essays - 250 words - 14

Business - Essay Example The two prospective business partners, Pat and Alex, are professionals in different fields. This is an advantage in that it will save their business a lot of money and will go further in ensuring that their business becomes a success. Alex has a lot of experience in roasting coffee, which they can choose to do in their coffee shop instead of buying coffee that is already roasted. Buying roasted coffee is expensive. Being a chef, he can also handle all matters related to the kitchen Alex has all the experience that the business requires in order to provide customers with fine cups of coffee. He could save the business unnecessary expense, and that money could be used for other purposes in the business (Longeneckeet & Gaele, 2006). Pat is a marketing manager in an advertising firm. Pat can overwhelmingly provide the necessary management skills that are required in the coffee shop. This is also an advantage to the business, as management skills are essential in daily operations of a business enterprise. Since the coffee shop will be a new business in town, the two partners will need to carry out some advertisements. The advertisements will be aimed at attracting customers in their business. Pat, a well-trained manager, has to embark on this department and advice on the best way of attracting customers in this coffee shop (Longeneckeet & Gaele,

African American and American Society Essay Example for Free

African American and American Society Essay African Americans No matter where or when a person lives, skin color, beliefs, class, or history he/she will see a difference in the way every ethnic group is treated. This world has never been fair for anyone. Life can treat a person with the greatest of care or it will treat a person as if he/she is lower than dirt. African Americans are no different. They have faced great hardships and triumphs throughout the years. Since they had been forced from their homeland they have been treated as if they had no rights or thoughts of their own. They were placed in the status of slaves even though they were human beings too. No matter if they were placed in the minority group by the dominate majority group of white Americans they remind structurally pluralism by keeping to their beliefs and traditions. Before and after slavery African Americans did not receive equal treatment. â€Å"Even when slavery ended, Jim Crow laws went into effect meaning that the very best of everything was reserved for white’s only-school, jobs, neighborhoods, hospitals, etc. † (Moore, 2008). In other words, the African Americans took the subordinate status to the dominant white Americans. Their race was used to dictate what rights they would be allowed to have in America. At one point, they did not have the right to be free and over the years they were given that right back. Even though they regained their right to be free, they still were not very free. They were only allowed to eat in certain places, drink from certain fountains, and ride in the back of the bus. This is not what would be called very free. They were not even given the opportunities to receive a quality education or to vote. â€Å"With the 1896 Supreme Court decision in the case of Plessy v. Ferguson, the separate by equal doctrine was upheld, and the system of segregation in the South was securely in place† (Merger, 2012, pg. 169). When it came to getting a quality education, they were placed at the bottom of the totem pole. The whites receive the best opportunities for receiving a quality education while the African Americans were not. It was not until the Brown v. Board of Education of Topeka case that African Americans were allowed a better education. â€Å"Separate schools were inherently unequal and imposed an inferior status on black children, causing irreparable psychological change† (Merger, 2012, pg. 173). The rights as citizens were also being denied by not allowing them to vote and make a proper living to take care of theirfamilies. Years ago, African Americans were not allowed to vote, so they had no say in the laws that were made that would deny them their rights as American citizens or human beings. This kept them from changing the laws that kept them from achieving economically and politically. The Civil Right Movement began a new era for African American. It was their gain of the right to vote and be elected to office that gave the some power over their rights as human beings and citizen in the economic and political environment. Even after everything that the African Americans have gone through, they still face prejudice and discrimination in all areas of their lives. It is no wonder that for some it feels as if it is never over. No matter what a person looks like, how he/she talks, their beliefs, where he/she lives, how much money he/she has, or what race he/she may come from we all bleed red and where cut from the same cloth. We all deserve to have the opportunities and resources that are out there to help better ourselves. African Americans are human beings too and they have the same rights as everyone else.

Marketing Communication Comparison of Shoe Companies

Marketing Communication Comparison of Shoe Companies Introduction: This report is presented with the aim of facilitating a comparative analysis of the marketing communication strategies and mix adopted by the athletic shoe brands Adidas and New Balance. This research entails a high magnitude of relevance as the two brands i.e Adidas and New Balance are operating simultaneously in the international market which is defined as being competitive. For illustrative purposes: Competitors of the Shoe Brands: Adidas New Balance Nike Puma New Balance Reebok Asics Woodlands Red Tape NIKE, Inc. Adidas-Salomon AG Ariat International AZ3 DC Shoes Fechheimer Brothers Company OshKosh BGosh Saucony Woolrich Combating completion as such is required for substance and growth.. Organizations such as Adidas, New Balance and many more are in continuity into market research to cater to consumers whose tastes and fashions are changing in rapidity necessitating variation in products by modifications, modes of advertising, sales and promotional approaches and appealing pricing strategy to attract consumers who are not only quality conscious but price conscious. To render an in-depth analysis, I propose the following: Primary Research: Consumer Poll Secondary Research: Books, Journals, Websites Analysis of Compiled data Primary and Secondary Research data employing the following business tools: S.W.O.T Analysis Marketing Mix Market and Literature Review: Origin: New Balance Shoes: New Balance Athletic Shoe was created by an orthopaedic shoe manufacturer in 1906. The individual who is credited for the birth of this reputed shoe brand is William Riley and the organization came to be known as the New Balance Arch Company. In the 1900s, New Balance Arch manufactured custom-made arch supports to rectify orthopaedic foot problems and help in relief of pain. In the year 1930, the very first handmade running spike was created by New Balance Arch. Paul Kidd acquired new Balance Arch in 1956. The Organization manufactured first running shoe employing a rippled rubber sole, which was produced with a multitude of widths in 1961. James S Davis, in 1972 bought New Balance and then it was christened as New Balance Athletic Shoe. New Balance Athletic Shoe bought the rights from Iron Age of the Dunham brand names. In 2000 the organization created the RC1001, which happened to be the primary shoe to present the N-ergy SC. System comprised of a technological superiority in the New Balance bringing about high-performance suspension system. New Balance Athletic Shoe also gained successfully the rights to the PF Flyers brand in the year 2000. New Balance Athletic Shoe commenced its first width centralized concept unit at Harrods with a merger with Sweatshop in 2001. The organization signed on the dotted line a license agreement along with the Franco Apparel Group for sale of kids apparel in 2003. It also opened its stores in Santa Barbara and Ontario in the same year. In 2003 New Balance Athletic Shoe stepped with intent to diversify into the market of China. In 2004, New Balance Athletic Shoe entered into agreement alongside New Era Cap to add in their product line performance headwear in its product line categories, a business agreement with Eyewear Designs to initiate sales of highly innovative performance sun wear and eyewear, and a mutually beneficial agreement with Moretz Sports to produce high quality performance socks. New Balance Athletic Shoe successfully acquired Warrior Lacrosse in Warren, Michigan in 2004 and also commenced its concept outlet in US and Canada at the same year. A totally-new comfort performance Shoe brand, Aravon, was by this organisation introduced at retail outlets in 2004. In 2005, Innovative Hockey was bought by the organization to function as a new section named Warrior Hockey. In August 2006, New Balance Athletic Shoe bought Brine, a reputed industry world leader in soccer, lacrosse, field hockey and volleyball, based in Milford, Massachusetts. Adidas: Adolf Dassler, a German National residing in a relatively unknown German Village created Adidas, the phenomenon in athletic shoe brand who named the shoe by utilising his nickname Adi and adding it on to the first syllable of his last name. In the very beginning Adidas hired reputed athletics to promote their product line. Jesse Owens, in the Olympic Games of 1936 wore Adidas shoes while performing at the games and later on as the brand gained popularity many sports personalities commenced sponsoring the brand. Towards the end of Seventies, Adidas gained phenomenal popularity and was dominating the global market in sportswear. Kaka, Zinedine Zidane, David Beckham and many celebrity soccer players such as e are being sponsored by Adidas. For nearly eight decades Adidas has been very much an integral part of the sports world providing state-of-the-art sports footwear, accessories and apparel. Currently, the organization takes pride in holding a global position in the sports goods sector. Adidas products especially shoes are available in almost every nation of the world proving the fact that the organization has carved a distinctive niche for itself. Adidas has emerged into a large multinational corporation. It possesses a distinctive logo and the catchy advertising slogan Impossible is Nothing further cement the brand image and popularity. The business organization with intent to have sustenance of the image it has created in the minds of the global consumers allocates huge sums in advertising and promotion of the brand. The brand employs sports stars to project its corporate philosophy of passion, grit, determination and perseverance through its Impossible is Nothing Campaign especially at the current recessional phase which is predominant in the current economic world scenario. (Borderick 2005) Methodology: Primary Research: Initially primary research method was employed. Consumers were interviewed about the two brands i.e. Adidas and New Balance Shoes. Data was compiled and a theoretical approach was devised to compare the brands. The questionnaire utilized had 10 vital questions which helped in gaining required responses for the analysis Secondary Research: While the function was carried out for the secondary research, books and websites and learning modules were referred to. On the basis on the primary and secondary research data compilation, analysis was carried out and inferences drawn. Analysis and Discussion: http://www.wikinvest.com/images/thumb/e/e7/Footwear_market_shares.PNG/400px-Footwear_market_shares.PNGPie Chart The above figure statically indicates the fact that New Balance has a large share in comparison to Adidas. Nike stands at 6% while Adidas at 16% which is almost half of Nike. Marketing Mix: http://www.soopertutorials.com/wp-content/uploads/2009/01/4ps.gif New Balance Adidas Product New Balance Athletic Shoe has created the RC1001, which stands out to be the first shoe to feature the N-ergy SC System, a technological strategy innovation in the high-performance suspension shoes The shoes are known to offer comfort and style and are light in weight. They have great value for money. The grip which the sole provides is on account of good design and is useful especially in hiking. They go with ease on the legs and prevent any kind of twist or sprain. Price Commences from a pricing range of USD 59 The basic pricing range is USD 65 onwards Place New Balance Athletic Shoe are marketed in more than 120 countries on six continents. New Balance is in possession of wholly-owned subsidiaries in the Sweden, Hong Kong, Singapore, Australia, UK, France, Germany, New Zealand, Mexico, Canada, South Africa, and Brazil. Adidas is sold in all the developed and developing economies of the world. Adidas follow one level channel or an indirect channel to make their product reach out to the final consumer. The products are manufactured by the producer and it then reaches the retailer who in turn sells it to the final consumer. Promotion The company fails to have endorsements in huge sporting events, retarding its ability to gain international brand-recognition. Adidas now just does not advertise innovatively but makes the much required impact with executions which are brilliant. Television and other forms of advertising are in regularity employed and the organization successfully conveys their characteristics of innovation and technology coupled with huge success stories with personalities such as Emil Zatopek and Mohammad Ali to name a few. S.W.O.T Analysis: (Kotler 2001) A S.W.O.T Analysis in context of a business organization assists us in comprehending the strengths of the organization, the weaknesses it possesses, the opportunities the organization could explore and the threats which could harm its growth and existence. New Balance Shoes: Strengths Innovations New Balance Athletic Shoe focuses on continuous research and development work. New Balance Athletic Shoe has brought into various new products over the years. The business house was the first to produce handmade running spikes. It also created the first running shoe having a rippled rubber sole that was produced in multiple widths. The firms continuous innovations have helped it to remain competitive and improve market share. Global reach The firm possesses a number of licensees, joint ventures and distributors all over the world. International operations help the brand to use advantage of a range of market opportunities while refraining from overexposure to any specific market. Unique approach to athletic products The Companys aim is to provide the elite and daily athlete with footwear, apparel and accessories that assure superior performance, fit, quality and comfort. Understanding that the size of feet varies among people, New Balance sells shoes in up to six different widths from a narrow 2A to an expansive 6E.The company has created 18 different foot models (lasts) to design its footwear around. Each last takes into account the users i.e. men, women and kids and the use. All in all, they create a complete fit and size profile to design a superior shoe called 360 Fit. This new approach provides the organization a competitive better advantage. Weaknesses Lacking celebrity endorsements New Balance Athletic Shoe has focused on an Endorsed by no one belief or philosophy. The company fails to undertake celebrity endorsements like its competitors Nike, Adidas and Reebok. Its brand building process are hence at a position which is disadvantaged resulting in brand unawareness up to some extent by this. Opportunities Growth in the fitness equipment market The fitness equipment market in the US and UK is expected to grow at steady rate in the near future. Fitness equipment manufacturers have now started to offer high quality equipment at lower prices. This has helped increase the penetration of these products in the home fitness market, as opposed to the earlier trend, when such products were only found in fitness and training clubs. Treadmills, elliptical machines and other types of equipment that are used for cardiovascular workout are now available to consumers at reasonable rates. This is increasing the demand for such products and New Balance is well positioned in this market through its home exercise equipment product range. Threats Rising raw material costs The principal materials used in manufacturing footwear products are natural and synthetic rubber, plastic compounds, foam cushioning materials, nylon, leather, canvas, and polyurethane films used to make Air-Sole cushioning components. As a result of rising oil prices, the prices of synthetic rubber and plastic based products has increased. Rising oil prices will further increase the prices for petroleum based products. Increasing raw material costs would increase the companys production costs and may affect its profitability. Intense competition The business is subjected to high competition with many large companies such as Nike, Adidas and Reebok. The market launch of technologically better and improved products by competitors such as Adidas and Reebok, could lead to decline in the firms market share. Further, these competitors have greater resources and strong brand names. The competition from these big brands is very high and propels the company to invest large amounts in marketing and brand maintenance strategies. Adidas: Strength: The prime strength of the organization is its 8 decades of existence in the global market. The employment of high end technology in the production process improves quality, precision and durability which are the most desired aspects by athletes. The organization has the largest international portfolio of celebrity sports ambassadors. The business as a part of promotion sponsors football teams and has a high consumer brand loyalty mainly in U.S.A and India. Statistics and surveys indicate that Adidas has the maximum level of popularity and brand image in India. Adidas possesses the largest international portfolio of sports ambassadors. The organization in continuity sponsors football teams and has a high fan following particularly in U.S.A and India. Statistics and surveys reveal that Adidas has the maximum level of popularity and brand image in India. Weakness: The pricing strategy of Adidas for all its products including athletic footwear lacks flexibility and is highly rigid and this proves to be a weakness in a general price conscious economy. Adidas is hovered over with a close competitor in the form of Nike, Puma and many more in the global market. The Indian subcontinent, which in now identified as a potentially growing market with high potential of revenue, the brand has not been showing good revenue results. In a global price conscious economy, the high level of rigidity in pricing poses a weakness. Adidas is plagued with a close competitor in the form of Nike in the global market. The Indian subcontinent, which in now recognized as an emerging market with high potential of revenue, the brand has not performed well. Opportunities: Adidas should avail the opportunity to explore new world markets in the global arena. Health consciousness among the people in general is creating a good need for athletic shoes which should be skillfully tapped by Adidas. Creative advertising employed in continuity could open up opportunities of market growth and sustenance. The brand has tremendous opportunity to explore new avenues and markets in the global market. Health consciousness among the world populace in general is creating a good demand for athletic shoes Effective advertising employed in continuity could present the opportunity of market growth and sustenance. Threats: Statistics show that Reebok, a competitor of Adidas has a good market share and employs a higher sum for market communication strategies. This presents a threat which is growing for Adidas. New entrant brands such as GAP, CAT prove to be a threat as they are eating in on the market share of Adidas which it has created over a period of time Statistic reveals that Nike, a competitor of Adidas has a large market share and allocates a much larger sum for market communication strategies. This proves to be a threat which is growing for Adidas. Relatively new brands such as GAP, CAT prove to be a threat as they are cutting in on the market share of Adidas. Conclusion: Statistics state that Adidas rules over New Balance shoes in the Global Market. Without an element of doubt both the brands fulfill the quality criteria. Their marketing approach differs creating a certain amount of limitations especially in the case of New Balance Shoes. Adidas is undoubtedly performing better and will continue to do so Recommendations: It is recommended that New Balance Shoes commence celebrity endorsement for their product and even sponsor sports events like Adidas does. The excessive competition creates this need. With a change in the promotional activities the company might not improve market share. Adidas has to focus on moving ahead of Nike which is the only close serious competitor dominating the market.

Essay --

In Philip Larkin’s poem â€Å"High Windows† the speaker displays mixed emotions towards the invention of modern birth control and its integration into society during the 60’s. Larkin composed poems during a period of political turmoil and instability and expresses a desire to escape the apparent chaos; he describes both the sexual and religious freedoms of the time. Nevertheless, â€Å"High Windows†, presents a small background of sexuality and culture that is about social change. Yet, during this time period using birth control was looked down upon by the previous conservative generations because the kids were rejecting the previous generations’ morals. In addition, opponents of the birth control pill were concerned that because many were using birth control, it would be used as an excuse to engage in premarital relationships. However, birth control â€Å"Pill† was an innovative invention that brought about a positive cultural change to soc iety because it allows couples to plan for wanted children, establish relationships, financial stability, and women to pursue professional lives with more freedom. In the time period that Larkin wrote â€Å"High Windows†, there were intense changes in matters referring to sex and birth control methods. Sexual practices that were previously considered inappropriate for discussion were openly discussed. New methods of contraception allowed men and women to be able to control their own reproduction. Larkin captures this sense of a new age of sexual freedom in his poem, â€Å"High Windows†. Larkin expresses the desire to escape a constantly changing world due to sexual freedom in order to achieve some type of fulfilling personal relationship. â€Å"Larkin was a life-long bachelor; he had several sexual relationships, but was n... ...Marks). Therefore, the key development of the pill is the freedom of choice one has. â€Å"It frees the woman from the burden of involuntary childbearing that has traditionally made her a poor risk to employers and assigned her a secondary role in society. Now, three out of five working women were married† (Marks). Nonetheless, birth control allows couples to plan for the conception of children and take charge of their life. Birth control has brought about a positive cultural change to society. Women were now able to consider having careers and attending college, rather than worrying about raising a family. The past decade has witnessed significant changes in the culture of society due to the introduction of the birth control movement. The â€Å"Sexual Revolution† of the United States is believed to be part of the aftermath of the widespread use of the birth control pill.

The News of the World Phone Hacking Scandal

The News of the World Phone Hacking Scandal from Business Ethics and CSR Point of View Date: 21 June 2012 Executive Summary The focus of the project you’re about to read is on the recently phone hacking scandal of famous UK News agency, – The News of The World. The report include a brief explanation of what has happened based on pre-selected online articles, analysis of the scandal from Business Ethics point of view by using various CSR theories discussed during the CSR course in period four and provides conclusion and recommendations on what could have been done.The research is built on identification of the moral problem identification, analysis of the scandal, optional actions which could have been taken to avoid the situation, evaluation of the scandal from business ethics perspective by using business ethics theories. To make sure that the scandal is analyzed realistically the report covers different stakeholder perspectives. Nonetheless, the report addresses one o f the most important scandals of the news industry and aims to handle the issues from Business Ethics and CSR point of view.Contents Introduction3 The News of the World and Phone hacking Scandal background4 1. What the dilemma is about5 2. Stakeholder Analysis6 2. 1. Who acted and who had to act? 6 2. 2. Stakeholder and their interests/actions7 2. 3. Moral values9 3. Theoretical analysis10 3. 2. Sustainability10 3. 3. Ethical Value Judgment11 3. 4. Virtue Ethics (Phone Hacking)12 3. 5. Utilitarianism: Consequentialist approach13 3. 6. Universalism: Deontological approach14 4. Conclusion and recommendations15 Bibliography16 IntroductionThe scandal analyzed within this report is one of the most discussed and complicated scandals the news world has ever faced. In order to be able to realistically present company and adequately evaluate this whistle blowing journalistic research which revealed the greatest journalistic scandal ever the following criterion were used: * Business Aspect of the scandal * Moral aspect of the issue and public reaction * Political aspect of the problem * Ethical theoretical relevancy * Social elements of the scandalAll the gathered data is analyzed according to the theoretical knowledge gained during the course. Company Mission Statement: †Our practice is the fearless advocacy of truth. [We] will seek for the patronage of no party †¦will conceal neither the merits nor the faults of any party, but†¦ will aim alone at doing good service to old England by maintaining her glory and security, the prosperity of all classes of the people. † (Hinton. (2011). After 168 years, what changed?. Available: http://hintonandco. com/tag/mission-statement/. Last accessed 14 June 2012. This in itself is a very powerful mission statement which was left as an inheritance from the company’s founding fathers. After 168 years they first have been in business, the staff were empowered by these powerful words. The culture that was ini tially â€Å"advocated for truth† was left to run uncontrolled even if it was for the cost of breaking the law. The News of the World and Phone hacking Scandal background For the first time being published in 1843 the News of the World was one of the most read Newspaper in the United Kingdom, until 2011.During the period of its publication it was the biggest selling English language newspaper not only in the UK but also globally. The company initially was established by John Browne Bell in 1843 and later was sold to Lascelles Carr in 1891 and last was bought by News Corporation in 1969. News of the World was the Sunday sister paper of The Sun. The newspaper main focus was on its specialty on celebrity-based scoops and populist news. Its â€Å"extraordinary† scandal news earned the company various names, including but not limited to famous News of the Screws and Screws of the World slogan. UK: BBC. (2011). News of the World to close amid hacking scandal. Available: www. bbc. co. uk/news/uk-14070733. Last accessed 14 June 2012. ) The company was famous for exposing celebrities as drug users, sexual peccadilloes, or criminals, setting up insiders and journalists in disguise to provide either video or photographic evidence, and phone hacking which became obvious in 2011. With its paparazzi style and delivering personalized news, the paper was selling over 2 million copies on weekly basis up until 2010.Though the phone hacking allegations started back in 2006, accusations reached to its top level on the 4th of July 2011, when it was revealed that the newspaper staff had intercepted and deleted the voicemail of missing British teenager Milly Dowler, who was later found murdered. As a result of the intense allegations News International announced the closure of the newspaper on July the 7th 2011. However the scandal did not just end there by closing the company, it got deepened as the investigations got intensive.The most horrible news was that the comp any had hacked the phones of the British service personnel killed in action, their families, people who died during 9/11 and their families. However ethical dilemmas do not just end by the phone hacking scandal, but also secondary dilemma starts with the speech of the owner of the News Corp. Richard Murdoch’s announcement on February the 17th 2012 in London that they were soon to launch a Sunday edition of The Sun as a successor to the News of the World and they were planning to employ a number of former News of the World journalists. . What the dilemma is about When the investigations initially started in 2005 it was concluded that the company’s phone hackings were only limited to celebrities, politicians and a few members of the British Royal Family. However when it was revealed in July 2011, that the phones of the murdered schoolgirl Milly Dowler’s , relatives of deceased military members, victims of the 7/7 London bombings and some of the 9/11 victims were a lso accessed. As a result of those unethical actions a public outcry against News Corporation and owner Rupert Murdoch culminated. (UK: BBC. 2011). News of the World to close amid hacking scandal. Available: www. bbc. co. uk/news/uk-14070733. Last accessed 14 June 2012. ) Even though the public relatively calmed down after the company was closed, the anti-Murdoch and anti-News Corp. protests culminated once again after the owner of the company announced that they are planning to start a new newspaper agency by hiring the same staff under different name. 1. Stakeholder Analysis 2. 1. Who acted and who had to act? Phone hacking scandal covered multi level stakeholders. The following were the major stakeholders:In this case the main responsible stakeholders were the News Corp Management, Richard Murdoch; – the owner of the company and the British Government/monitoring institutions within the government. These stakeholders were legally responsible for making it sure that the news paper was operating within the legal borders. Once the company was suspected for its fraud activities the governmental institutions did their job by starting an investigation on the newspaper’s operations. However these institutions did fail to monitor the newspaper activities prior to the scandal.Both the News Corp. and the owner of the company, Richard Murdoch claimed not to be knowledgeable of those hacking activities, however they did apologize those harmed as a result of hacking activities and subsequently shut the company down. Meanwhile, the holding company did fail their promises when they announced about their plans of re-starting the newspaper’s successor under different name. 2. 2. Stakeholder and their interests/actions The stakeholders given in the stakeholder map can be divided into two: * Internal * ExternalThe following could be classified as internal stakeholders: 1. The News of the World: It was in the newspapers objective to deliver interesting news at on weekly basis. The company was profit oriented and would do almost everything to achieve its targets. They also had the campaign to expose pedophiles rings rather hollow. That was a dangerous path to go on: we could imagine them asking the question, ‘Will this sell us lots of copies? ’, and if the answer is ‘Yes’, they would do it, no matter if it’s illegal, immoral or indefensible.The culture that was initially â€Å"advocated for truth† was left to run uncontrolled even if it was for the cost of breaking the law. 2. The NotW management: The management had the responsibility to make strategic decisions to run the company profitably. It was in their interest to give the staff as much independence as possible to bring the most sensational news in the news industry. However it was also their responsibility to make sure that the staff’s actions were within the legal boundaries. 3. The staff/journalists: The employees’ main duti es were delivering the news that no other paper delivered.However it was morally their responsibility to act responsibly. 4. Richard Murdoch: It was in his focus that the company was profitable. It was also him as primary responsible person when the company was subject to investigations. He was the one apologizing in public on behalf of the newspaper, which created a good image of the company in short term. However, his announcement about new company being launched again put the News Corp. as holding company in the frontline subject to criticisms. 5. The NOTW shareholders: This group of the stakeholders was the people who invested in the NOTW.It was in their interest that the company was profitable and was running that way continuously. It was definitely out of their focus that the company was engaged such harmful activities. The external stakeholders: 1. The UK government/regulatory institutions: It was government’s/regulatory institutions duty to check the activities of the newspaper and act upon necessity. 2. David Cameroon: The prime minister was criticized for his former director of communications Andy Coulson was an ex-editor of News of the World at the time much of the phone hacking occurred. (Luke Buckmaster and Amber Jamieson. 2011). ‘Hacked to death’: Murdoch kills NotW. Available: http://www. crikey. com. au/2011/07/08/the-latest-24-hours-of-the-NotW-phone-hacking-scandal/. Last accessed 14 June 2012. ) 3. Victims: The victims who were alive or the relatives of the victims were interested in NotW management’s apalogizes. 4. New industry: The industry got harmed by one representative’s action, and the eyes turned towards other news agencies asking one question â€Å"Are they also using same or similar method? † 5. The community: The majority was interested in NotW to apologize and even shut down.However there were small group of people who could potentially be against these and these people were majorly the No tW employees or their relatives. In addition, the community was the main reason why the company did those actions as the demand was very high for such news. The dilemma in the case which makes the stakeholder interests collide: * The NotW company interests for higher profitability * The NotW management objective to bring news at any cost * Possible corruption within the government * High level of public demand for scandal newsSumming it up, there are over 10 major stakeholders being divided into two parts, internal and external stakeholders. However the most interesting part is that some of the stakeholders have mixed interests. For instance, the government who used the information provided by the newspaper, used and sought more news without checking the source of the news and later on accusing the NotW for fraud. In addition, the community who which was the main drive for the hacking due to the demand also had mixed interest levels. 2. 3. Moral values The question â€Å"What is Mo ral† in itself is debatable.However one can accept that moral values are values shared by the majority. If there would not have been any value in common in the community, it would be impossible or extremely hard to decide on what is moral. In fact, one can see that some values are shared with higher acceptance late than others. The phone hacking scandal covers various moral values’ elements: * Responsibility * Accountability * Cooperation * Honesty * Commitment * Integrity * Equality The actions taken by all the stakeholders must meet at least one of the above given elements in order to be considered moral. 2. Theoretical analysis . 1. Carroll’s Pyramid Based on Carroll’s pyramid a company has four levels of responsibility which are Economic, Legal, Ethical and Philanthropic responsibilities. Analyzing the NotW’s overall operational structure we can conclude that their major focus was on Economic responsibility, making more profit in shortest time p ossible. Their mission statement did touch Legal and Ethical responsibilities as well, however it was not very much clear what their major Ethical responsibilities were. They tried to create ethically responsible image of the company by donating money and hosting charity events.However this in itself was not enough. One can conclude that NotW was settled at the base line of the Carroll’s pyramid. 3. 4. Sustainability Evaluating the NotW from sustainability curves point of view one can spot the target of the management. 1- Ethical Responsibility: The company website and their PR representatives always mentioned that their mission is to bring reliable and honest news. While they were often giving large money donations for good cause. However for the concept of the Phone Hacking Scandal, we can say that one action overcame all the â€Å"Ethical† actions of the company. – Economic Responsibility: This was the main responsibility of the company as they were the large st selling English Language newspaper of the world. 3- Legal Responsibility: The company and the staff were held legally responsible for their actions however the management did not act legally responsible prior to the scandal outbreak. Summing it up we can conclude that the company did not meet all the sustainability elements and lacked sound CSR policy. 3. 5. Ethical Value Judgment We inherit ethical standards suiting our community the most.As people, the companies are as well judged upon firm views about right and wrong. Some of those ethical views are so strong that, shaking them will shake the whole fundamentals. Reliability and trust are those of major elements in these ethical standards that any news company would be judged upon. Looking at the NotW, we can confirm that, the company not only ignored the prevailing norms of the industry but also shook the fundaments of the ethical expectations from a news agency. (James Griffin (2006). Value Judgment Improving Our Ethical Beli eves. 2nd ed.New York, the USA: Oxford University Press. p 60- 98. ) However finally the management took the right psychological decision by stopping the company operations. NotW NotW Phone Hacking Scandal Prevailing norms of News industry Value judgments and perceptions of the audiance ETHICAL? 3. 6. Virtue Ethics (Phone Hacking) â€Å"Virtue ethics† is shortly the development of a person or a company into an ethically responsible one to lead ethical and responsible life/operations. To achieve that level it is important to develop responsible character traits which are called virtues.In Phone Hacking Scandal both the government and the management had to determine specific virtues and play the role of Virtue Ethics Agent. Based on virtue ethics, to determine whether an action is morally acceptable, the action must be chosen responsibly making the virtue equal to responsibility. In most of the case the agent must choose the virtue on the victim and help them. We could see that the British Government acted virtuously and increased the investigation on the hacking scandal, which eventually lead to the end of the NotW.This is mostly due to the fact that NotW as a company lacked major news agency virtues which are being trustworthy, reliable, and honest and one can conclude that the government played an important virtue agent role. 3. 7. Utilitarianism: Consequentialist approach According to the consequentialists it is morally right to do anything if it results in the greatest amount of good for the greatest amount of people. However the main issue becomes the consequence of the theory which would allow any action to take place under the name of a good cause. Even actions hat would be considered as â€Å"morally wrong† can be accepted within this theory. However according to the utilitarianism, the NotW has created more harm in the community than benefit by hacking people’s private voice mails and, for this reason they are considered to be guil ty for taking morally wrong actions. Looking at from different perspective, if the scandal was not found out, and people enjoyed reading the hacked news, one could say that as long as nobody finds it out, everybody is happy, the consequence is good. Happy & satisfied customer, revenue generating company, taxes received at the government, positive consequence.Once again it is confirmed that this theory can not clearly formulate satisfactory rules for decision making and can easily breach justice/legislation. For the above given reason, one could conclude that the Utilitarianism is not the best way of assessing an action by means of morality. 3. 8. Universalism: Deontological approach Kant's deontological ethics theory is based on Deon – duty. If the scandal is approached from Kant's categorical imperative principle point of view, we can conclude that it is the duty of any News Agency to deliver the news to its customers within the given standards without violating the otherâ⠂¬â„¢s private lives.Since this theory is built on the actions that lead to the outcome, then we can conclude that it was not only the NotW but also the regulatory institutions who acted immoral by not monitoring the NotW properly and providing the ground for the company to take such actions. 3. Conclusion and recommendations Failing almost every Ethical Theory, not having sound CSR system, being majorly financials’ oriented firm, the News of the World’s Phone Hacking activities were completely against not only the British Business ethical standards but also the international ethical standards.The NotW management had various mistakes, including but not limited to giving power to their staff without monitoring them on according to the standards. Which consequently lead for the largest scandal of the news industry. However, the management did take the right step by announcing the NotW closed which created a caring image in the community, and saved the holding News Corp. company. Meanwhile, Mr. Murdoch’s announcement of News Corp. launching a new successor of the NotW created more aggression within the public. The following would be final recommendations for the News Corp. s the NotW is no longer exists: 1- Give your staff power, but do not let the aggression take their power over 2- Corporate Social Responsibility is not donations, but acting. After such incident, the management should start different volunteer activities not only in the UK but also the other parts of the globe. 3- Define a sound CSR policy covering both your internal and external activities 4- Add learning objectives which you have acquired and which you are missing from your mal-management to your website to let your customers understand that you are aware of your mistake and have learnt from it. – Do not hide your history 6- Engage with your customers via different tools, including but not limited to Social Media means and ask for their opinions where they would li ke to see you as a company. 7- Make sure that you have decent reporting system set, and are on track of every single development within the company. Realizing the above given recommendations, the News Corp. will slowly, however soundly be restoring the customer confidence and rise back to their previous levels once again. Bibliography * http://www. bbc. co. uk/news/uk-14070733 * http://www. crikey. com. u/2011/07/08/the-latest-24-hours-of-the-NotW-phone-hacking-scandal/. * http://www. csrquest. net/default. aspx? articleID=12770&heading= * http://www. ec. europa. eu/enterprise/policies/sustainable-business/corporate-social-responsibility/reporting-disclosure/swedish-presidency/files/media-csr/corporate_responsibilty_and_the_media,_david_grayson_en. pdf * http://www. goodcorporation. com/documents/Corporatesocialresponsibilitymorethanaluxury. pdf * http://www. guardian. co. uk/news/blog/2011/jul/11/news-world-hacking-scandal-live * http://www. guardian. co. uk/sustainable-business/bl og/csr-now-hacking-scandal *

10 Steps to Improve Your Workplace Communication Skills

10 Steps to Improve Your Workplace Communication Skills Communication is key. Whether written or spoken, reading, or listening, these skills are crucial in any workplace and can make you a better, more effective, and more efficient employee. Here are 10  ways to improve your communication skills. 1. Don’t beat around the bushBe clear. First and foremost, make sure your point is conveyed and that your message is easily understood. Use specific language, avoid spewing out too many acronyms. When in doubt, imagine you’re speaking to someone who doesn’t know your company.2. Listen activelyThe better you listen, the better you are at communication. Before you respond, make sure you’ve heard and digested what someone is saying. Don’t just wait for their mouth to stop moving to make your point.3. Repeat backThis is the second stage of active listening. Let the speaker know first, that you’ve understood them, and second, that you care about what they’ve said. Do this by repeating what theyâ€℠¢ve said and including their words in your response. Paraphrase back to them to prove that you’ve heard them loud and clear.4. Use your bodyWhen in doubt, or if you have something particularly complicated to discuss, try doing it in person. Face to face, you have the extra benefit of body language and non-verbal cues like gestures and facial expressions, all of which make it easier to avoid confusion.5. Show r-e-s-p-e-c-tDon’t multi-task while communicating. Don’t be on your phone, or doodling, in the meeting. Make sure what you’ve said is professional and respectful. Make eye contact and use people’s names. Basically, be a human.6. Match the message to the mediumIf you’re better via email, don’t try to have that important progress update in your boss’s office before you’ve had your coffee. If it’s a sticky situation that requires a nuanced approach, don’t just send a flat-toned email when you could finesse the situation with a well-managed in-person conversation. Figure out what it is you have to get across, then choose the medium that suits that message best.7. Know your audienceDon’t talk to your client as you would your boss. Or your HR rep as you would your best work pal. Match your tone and timing to the person you’re communicating with.8. Text smartMore and more workplace information gets communicated via text and email. This is another instance where it’s best to know your audience and choose the most appropriate medium. Bottom line: never text anything too complicated. That will help you avoid misunderstandings and misinformation. But don’t send a big long email to arrange a short meeting either.9. Make meetings matter moreSo many meetings leave us feeling we could have better spent that time. Demand better! Set an agenda, keep to the scheduled time, don’t invite unnecessary people. Make sure every meeting is productive enough to justify eve ry attendee taking the time and resources from their workload.10. Keep it positiveNo matter how stressed you are, or how fraught the conversation, try to stay positive. Put your team first. And never make it personal- keep your focus on the professional. Earn a reputation and respect.

Free Essays on A Sociological Approach To Religion

Religion: A Sociological Approach What is religion? â€Å"That’s easy,† I thought. Then I could not come up with an answer. For the answer I turn to my Webster’s Random House New Collegiate Dictionary only to find: â€Å"religion (ri lij’en), n. 1. A set of beliefs concerning the cause, nature and purpose of the universe, esp. when considered as the creation of a superhuman agency or agencies, usu. involving devotional and ritual observances, and often containing a moral code for conduct of human affairs. 2. A specific fundamental set of beliefs and practices generally agreed upon by a number of persons or sects: the Christian religion. 3. The body of persons adhering to a particular set of beliefs and practices: a world council of religions. 4. The life or state of a monk, nun, etc: to enter a religion. 5. The practice of religious beliefs: ritual observance of faith. 6. Something a person believes in and follows devotedly. 7. Archaic. Strict faithfulness: devotion.† Simply stated religion is a set of beliefs, morals, or observances. Sociologists have studied religion and its effects on people. Sociologists hope to gain a better understanding of the need for religion in communities and singular lives. The functionalist perspective, the symbolic interationist perspective, and the conflict perspective can be applied to religion. Religion can be Christianity, Catholicism, Islam, Buddhism, Wicca, or Greek mythology to name a few. Emile Durkeim studied a great deal on religion. He wrote a book that identified the components of a religion. This task seems impossible in a religiously divers society. All religions separate the sacred from the profane or secular. Durkeim in, The Elementary Forms of Religious Life outlined this distinction. He also noted that people generally congregate and form a community to practice their religion. Religion is composed of a belief structure (totem), sacred practice (ceremony), and a... Free Essays on A Sociological Approach To Religion Free Essays on A Sociological Approach To Religion Religion: A Sociological Approach What is religion? â€Å"That’s easy,† I thought. Then I could not come up with an answer. For the answer I turn to my Webster’s Random House New Collegiate Dictionary only to find: â€Å"religion (ri lij’en), n. 1. A set of beliefs concerning the cause, nature and purpose of the universe, esp. when considered as the creation of a superhuman agency or agencies, usu. involving devotional and ritual observances, and often containing a moral code for conduct of human affairs. 2. A specific fundamental set of beliefs and practices generally agreed upon by a number of persons or sects: the Christian religion. 3. The body of persons adhering to a particular set of beliefs and practices: a world council of religions. 4. The life or state of a monk, nun, etc: to enter a religion. 5. The practice of religious beliefs: ritual observance of faith. 6. Something a person believes in and follows devotedly. 7. Archaic. Strict faithfulness: devotion.† Simply stated religion is a set of beliefs, morals, or observances. Sociologists have studied religion and its effects on people. Sociologists hope to gain a better understanding of the need for religion in communities and singular lives. The functionalist perspective, the symbolic interationist perspective, and the conflict perspective can be applied to religion. Religion can be Christianity, Catholicism, Islam, Buddhism, Wicca, or Greek mythology to name a few. Emile Durkeim studied a great deal on religion. He wrote a book that identified the components of a religion. This task seems impossible in a religiously divers society. All religions separate the sacred from the profane or secular. Durkeim in, The Elementary Forms of Religious Life outlined this distinction. He also noted that people generally congregate and form a community to practice their religion. Religion is composed of a belief structure (totem), sacred practice (ceremony), and a...

Aphra Behns Oroonoko Essays

Aphra Behns Oroonoko Essays Aphra Behns Oroonoko Paper Aphra Behns Oroonoko Paper Essay Topic: Literature This extract, from Aphra Behns controversial Oroonoko, presents the princes reaction to his capture after a slave uprising is foiled and he is apprehended. Since Behn is writing in a third person narrative, something which can be limiting, I will be discussing the way in which in she exposes his mental agony through use of linguistic devices, punctuation and structure. I will also be contemplating how Behns use of binary opposites and narrative, which are developed throughout the novel, entwine and unite to reveal a deeper meaning with in the text. The portrayal of this emotional experience is developed in a number of ways and builds an engrossing portrait of his volatile mental state. It also confirms a number of moral themes which Behn has highlighted throughout the novel. One aspect which is initially striking, is the extracts structure. The whole item is made up of two sections, each of which is constructed from one complex compound sentence. Each sentence is extensive and includes several semicolons. Behn begins each paragraph with an introductory statement. In the first, this is as follows: Caesar told him, there was no Faith in the White Men, or the Gods they Adord. She then uses the punctuation to create a list of why this is so; be it because of their Principles so false or that they profess[ed] so much (and) perform[ed] so little. In doing this Behn is able to do two things. Firstly, Oroonokos anti-Christian thought (he could never be reconcild with our notions of the trinity1) come to an explosive release, with the reader experiencing the extent of his views for the first time. This outpour is important as Behn has only allowed glimpses of him from a removed perspective it creates a new depth of closeness, which makes his capture all the more distressing. Behn is also able to give the reader a sense of Oroonokos mental state. The list-like structure of the paragraph and the pauses suggested by the punctuation seem to slow the thought process down. This creates a sense of a calm outrage and disgust which is slightly disconcerting. Interestingly, Behn makes it clear that he is angrier with the slaves. In this second paragraph there are numerous, highly derogatory adjectives and phrases used to describe them. Behn separates these using commas; this gives the impression that they are being said in quick succession, and suggest the character is feeling more inflamed here: Dogs, treacherous cowardly, fit for such masters. It is clear he feels the blame is with them and he cannot forgive their cowardice. Behn uses a number of important linguistic devices to heighten and reinforce Oroonokos emotional state here. She juxtaposes plosives and frictives through out the exerpt, placing soft sibilance and hard consonants in close proximity. This is particularly present in the second paragraph as he says Slaves, poor, wretched Rogues, fit to be used as Christians Tools. The repeated s and f sounds slow the sentence down. This combined with the hard r, d, ch and t sounds, which cut the languid frictives short creates the sense that he is spitting the words out. She also includes alliteration and repitition of plosive p, r and w sounds throughout the extract: People professed performed, wretched Rogue, one word. Bhen also uses enjambment to stress the extent of Oroonokos distrust of Christians: ternally on his guard, and / never to eat or drink with Christians. The enjambment breaks up the line at and which really highlights the word never. These devices are important and act in furthring the rage and repugnance felt by Oroonoko towards his Christian friends and his slave army. Another aspect to which I have paid close attention is Behns use of capital letters. She has capitalized a number words throughout the excerpt, ma ny of which stand within sentences. This suggests that she has put certain emphasis on them and wishes the reader to take note. Many of the words have certain moral or ideological associations which, in the context, cannot be ignored: Faith, Gods, Principals, Honour, Action. Above, I have selected words which hold positive connotations, however there are also those which suggest the opposite: Rashness, Rogues, Weapons, White Men, Masters and Christians. They can, in fact, be grouped into a number of contrasting concepts, such as: moral or immoral, strength and weakness, good and bad, right and wrong. These paradoxes are significant for a number of reasons. Firstly, they act in enhancing the moral weight of what is taking place. They are there to highlight notions of injustice and immorality present in the very nature of the slave trade and are mirrored in the treatment of Oroonoko throughout the novel and within the extract: They fed him with promises and delayd him. The word fed suggests some sort of falsehood or trickery is being performed, that he is a unknowingly being fed lies. They say they respect him yet treat him like a fool. The concepts featured in this extract are also important as they come to mirror Oroonoko himself a character who is constructed almost entirely through Behns use of binary opposition. He is set up as the Royal slave from the very beginning. This is furthered through out the novel as he becomes a friend and foe. He agrees with European value systems (coupled with his Roman features) yet is, fundamentally, African. He is civilised yet savage, a noble and a rebel. He is not a symbol of ethnic superiority by any means but is set up as a model of absolute virtue, isolated in a politically and socially corrupt environment2. It is through him that Behn is able to project the moral messages which pervades the narrative, and this extract. Behn claims in the foreword of the novel that she herself was an eye witenss to a great part, of what you will find set down. The truth in this claim has been the centre of heated debate since its publication, with some even going on to argue that she paved the way for the modern realist genre3.. Regardless of whether her truth claim is genuine or not, it has a particular affect on the reader. We are generally inclined to have a greater level empathy with a characters plight if we believe it to be true (here I use believe in the sense that we are making belief possible as a reader, who is reading). This is certainly true in Oroonoko and plays an important part in the novels structure, which is centred around binary opposition and the unreliable narrator. Through out Oroonoko Behn employs a third person narrative. Whilst this can be liberating for a writer, enabling complex plots and point of view changes, it can also be extremely limiting to other key aspects of a novel. It could be argued that Behn has created and unreliable narrator, whos gender and status with in the novel render her unable to tell the story objectively. It is clear that she enjoys Oroonokos company and revels in the attention he gives her: my self hed call Great Mistress indeed my word would go a great way with him. It is also true that her sympathies lie with him throughout, particularly as Oroonoko is betrayed to slavery: Some have commended this act, as brave, in the Captain; but I will spare my sense of it. Despite this, she is unable to call him a friend. She creates almost hyperbolic descriptions of the Royal slave throughout and often associates him with words that connote the artistic: his skin, a perfect ebony, his eyes and teeth eing like snow. Such admiration cannot be present in a mutual friendship, as she appears to see him as an object of desire. Being white and the daughter of a governor she colludes in his enslavement, threatening him with confinement if he should give them reason to Fear him. He is also dangerous. Because of this she is unable to truly understand and accept Oroonoko. This is where Behns use of the third tense becomes truly important. Because of this, the reader is at a removed perspective, and is therefore unable to reconcile Oroonokos true feelings with the events that take place. The depth of his character suffers as result and Behn must employ binary opposites to make up for this. Behn was clearly a gifted woman and writer who, as Felix Shelling said, catered habitually to the lowest and most depraved of human inclinations. Whilst I have never read her other works, this is clearly the case in Oroonoko. She uses numerous devices throughout the novel to suggest a deeper moral message, all of which culminates in the extract I have focused on in this essay. Her masterful grasp on narrative technique and linguistic devices, have enabled Behn to convey a genre bending tale of romance, travel and tradgedy. She creates an unreliable narrator, who we begin to question and powerfully reveals the paradoxical nature of the slave trade through a simple system of binary opposties. Behn creates a dewy ecosphere in the readers mind which dares us to question the British way of life in the seventeenth century; Religion and Imperialism. It is these aspects which enable us to decipher her tale as a profoundly important one, one which questions the moral code concerning slavery and those who perpetuate it.

Business Ethics Research Paper Example | Topics and Well Written Essays - 500 words - 3

Business Ethics - Research Paper Example The auditors would come, and most probably, would not be able to learn about Woods’s adjustments in the bills. There are two main options in front of Alex; either to tell what Wood has been doing to the auditors and get him fired, or remain silent and see what happens. There is no guarantee that Alex would be able to convince the auditors to let go of Woods if they come to know what he has been doing, and if Alex does try to convince them to do so, they might find it offensive and report the case to the authorities accusing Alex of cheating. On the other hand, this fact cannot be overlooked that whatever Woods has done has benefited the company in general and the department in particular one way or the other. In addition to that, the overall effect of Woods’s adjustments is negligible as the funds affected amount to perhaps five percent of the plants annual earnings. These points impart the need to overlook Woods’s mistake and consider the benefits drawn as a result of it. Utilitarianism is one of the most widely employed theories of ethics. Utilitarianism, as the name indicates, places emphasis upon the utility of an action. â€Å"Utilitarianism states that the moral standard should be promotion of the best longterm interests of everyone concerned† (â€Å"Nine theories of ethics†). In other words, if the end result of a certain action is good, this justifies the action irrespective of whether or not it is against the rules or principles. Analysis of the case under consideration suggests that whatever Woods has done has generated favorable results for the company. Absolutism is another theory of ethics which believes in a universally applicable system of values and norms. This system is applicable upon everyone at all times. Absolutism places a lot of emphasis upon rules, and does not make any exceptions. Analyzing the case under consideration in light of the theory of absolutism,

Delta Air Lines Safety Program Case Study Example | Topics and Well Written Essays - 1750 words

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Wal-Marts Sustainability Strategy Essay Example | Topics and Well Written Essays - 3250 words

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Investigate a given organisation to analyse its current position, Essay

Investigate a given organisation to analyse its current position, evaluate the strategic options available, and recommend the strategic route - Essay Example Besides the technology advancement, competition is rapidly increasing in almost every industry, and this could send some businesses into oblivion. In line with that, this paper seeks to analyse the current position, evaluate the strategic options and recommend the most appropriate strategic route for the Dyson Company. Founded in 1993 by James Dyson, Dyson Company is a UK-based firm, which specialises in the designing and subsequent manufacturing of heaters, bladeless fans, dryers and vacuum cleaners. Though based in the UK, the company extends it services to 80 other countries around the globe, and as of December 2013 the firm’s profit stood at a staggering  £800,000,000. It currently provides employment to over 5,000 people around the world 1.Innovation has been the key driver of this company as evidenced by the creation of Ballbarrow, an alternative wheel for wheelbarrows that James Dyson invented after finding it hard to use the then ordinary wheelbarrow. A business current position is judged through its various parameters including its values, unique selling point (USP) and market share. A business has to remain distinct among other competitors in order to remain not just afloat, but also ensure it achieves its goals. By offering a unique product, a firm sets itself above others; with values that correspond to the needs of people a firm attracts a list of clientele 2. Identifying the market where a firm belongs helps it in focusing on the same to ensure the clients are served properly. In the case of Dyson, the current position is that it is well positioned despite the presence of other players in the market. The above assertions are informed by the recent statistics, which show the firm’s growth increasing each year. For instance, in 2011 the firm’s profits increased by 8% followed by 30% in 2012 and there has no announcement of loss in the last two years either 1. Besides the profits increasing annually, the firm’s market share

Link between ADHD and Criminal Behavior Research Paper

Link between ADHD and Criminal Behavior - Research Paper Example However, recent studies have indicated that there is a correlation between this disorder and criminal behavior. It is evident that ADHD leads to the onset and development of criminal activities. This paper discusses how ADHD causes criminal behavior. It analyzes the various aspects of ADHD that indicates and causes criminal behavior. It provides the premise that several ADHD related behaviors like drug abuse, bullying, poor self-control, personality disorders as well as depression and anxiety leads to criminality. The paper also evaluates the prevalence of ADHD induced criminality according to age and gender. In this regard, it explains concerning the prevalence of criminal behavior between males and females as well as between adults and youths. Introduction Unnever & Cornell (2003) indicate that Attention-Deficit Hyperactivity Disorder (ADHD) is the most prevalent neurobehavioral childhood disorder. In addition, this disorder is the most common condition that mostly affects schoolch ildren. The major signs of ADHD comprise hyperactivity, impulsivity and inattentiveness. Moreover, it is evident that occurrence rates for ADHD in the general population of young teenagers and children range from 4% to 12%, with high rates for city areas, boys, and those from low Social economic backgrounds. Many researchers have indicated that there have been continued link between psychiatric disorders and antisocial disorders in children. Since ADHD starts early in children, there is the possibility of this condition extending into adult-hood and breed criminal behavior. Research has also termed this disorder as the developmental forerunner of later disruptive behavior and criminality. In addition, there is a connection between ADHD and conduct or personality disorders. It is evident that ADHD causes this personality and conduct disorders which later leads to criminality. For instance, recent studies performed on prisoners in western nations have indicated that approximately half of the inmates tested positive to the diagnoses of serious antisocial personality disorder or conduct disorder when imprisoned. In addition, enduring evaluation researches have established that attention-deficit/hyperactivity disorder (ADHD) merged with conduct disorder is a forerunner of later criminal behavior (Mordre et al., 2011). Connection of ADHD with Criminal Behavior Ghanizadeh et al. (2011) portray three major areas, which describe the clear connection of ADHD with criminal behavior. In the first premise, they claim that ADHD might lead to delinquent activities consequently attracting imprisonment. The second premise entails the relationship between ADHD and conduct disorder. In this regard, they note that there is a strong connection between the high rate of conduct behavior and the prevalence of ADHD. This means that most patients with ADHD show symptoms of conduct disorder, which primarily indicates the onset of criminal behavior. The third premise is that imprisonment and offender behavior may lead to ADHD and conduct disorder. Several researchers have established that there is a positive link between youths who have ADHD and criminal activities. This means that the young generation, mostly the children and teenagers are the most in danger of engaging in criminal activities due to ADHD. Considerable research has also indicated that prevalence of ADHD in teenagers might cause spontaneous, unconscious behavior that frequently overpowers an adolescent’s sense of self-control. This unconscious behavior makes the teenager to undertake some actions that are not right and without consciously knowing. This is because the teenager lacks the self-control to handle the situations surrounding him or her. However, since this disorder starts early in c

Facebook Financial evaluation Essay Example | Topics and Well Written Essays - 1000 words

Facebook Financial evaluation - Essay Example It is today headquartered in Palo Alto, California. In the year 2011, Facebook recorded revenues of $1.5 billion and was considered the largest for a venture capital raised by private equities (Annual Report, 2012). This remarkable return was attributed to engaging in partnership, advertising and analytics business. In addition, the company had been experimenting video streaming rentals and daily coupons and deals that have also proved potential areas for growth. This essay evaluates Facebook financial statements by reviewing the following financial ratios: a) current ratio, b) inventory ratio, c) debt to equity ratio, d) net profit margin, e) return on equity, and f) price earnings ratio to determine its performance between year 2010 and 2012. Current ratio This ratio determines firm’s ability to take care of short-term obligations. The higher the ratio, the more capable the company is to off-set its obligations and the lower the ratio the lower chances to meet short-term fin ancial obligations (Brigham & Houston, 2001). Current ratio= current assets/ current liabilities Details 2012 2011 2010 Current Assets 11,267 4,604 2,762 Current Liabilities 1,052 899 978 Current Ratio 10.71 5.12 2.82 The ratio has been on the increase from year 2010 at 2.82 to 10.71 in year 2012. This indicates that Facebook capacity to pay its short-term obligations has been on the rise (Eljelly, 2004). In addition, the company’s cash reserves have increased as well as its marketable securities. However, the current liabilities have increased at a reduced rate over the three years compared to increase in current assets. Inventory ratio This ratio indicates the number of times a firm’s inventory is sold and replaced over a given period. Low turnover shows poor sales, hence excess inventory whereas high ratio indicates effective buying or strong sales. Inventory turnover= sales/ Inventory Details 2012 2011 2010 Revenues 5,089 3,711 1,974 Inventory 0 0 0 Inventory turno ver ratio 0 0 0 In this case, the ratio is not applicable since the organization does not deal with physical stocks. Facebook engages in sale of services and hence stock does not form part of its financials. Debt to equity ratio This ratio measures Facebook financial leverage by dividing all the liabilities by stockholders equity. The ratio indicates the part of equity and debt the company has applied to finance its assets. Debt/ Equity ratio= Total liabilities/ Shareholders Equity A high ratio indicates that a company finances its growth with excess debt capital, hence leading to volatile earnings due to high interest expense (Campbell, Hilscher & Szilagyi, 2008). Basically, if a company’s operations are financed mainly through debt capital, the company may generate more earnings meaning it will have enough resources to cover costs of debt and also a return for shareholders. In the table below, it is evident that Facebook has consistently maintained equal portions (29%) of b oth debt and shareholders’ equity to finance it assets. Details 2012 2011 2010 Total Liabilities 3,348 1,432 1,002 Shareholders’ Equity 11,755 4,899 3,429 Debt/Equity Ratio 0.29 or 29% 0.29 or 29% 0.29 or 29% Net profit margin Net profit margin ratio shows the level of business profitability. It is computed using after-tax income that is then divided by revenue amount. Basically, the ratio indicates sales amount that is left after all expenses have been settled. Further, it

Investigate a given organisation to analyse its current position, Essay

Investigate a given organisation to analyse its current position, evaluate the strategic options available, and recommend the strategic route - Essay Example Besides the technology advancement, competition is rapidly increasing in almost every industry, and this could send some businesses into oblivion. In line with that, this paper seeks to analyse the current position, evaluate the strategic options and recommend the most appropriate strategic route for the Dyson Company. Founded in 1993 by James Dyson, Dyson Company is a UK-based firm, which specialises in the designing and subsequent manufacturing of heaters, bladeless fans, dryers and vacuum cleaners. Though based in the UK, the company extends it services to 80 other countries around the globe, and as of December 2013 the firm’s profit stood at a staggering  £800,000,000. It currently provides employment to over 5,000 people around the world 1.Innovation has been the key driver of this company as evidenced by the creation of Ballbarrow, an alternative wheel for wheelbarrows that James Dyson invented after finding it hard to use the then ordinary wheelbarrow. A business current position is judged through its various parameters including its values, unique selling point (USP) and market share. A business has to remain distinct among other competitors in order to remain not just afloat, but also ensure it achieves its goals. By offering a unique product, a firm sets itself above others; with values that correspond to the needs of people a firm attracts a list of clientele 2. Identifying the market where a firm belongs helps it in focusing on the same to ensure the clients are served properly. In the case of Dyson, the current position is that it is well positioned despite the presence of other players in the market. The above assertions are informed by the recent statistics, which show the firm’s growth increasing each year. For instance, in 2011 the firm’s profits increased by 8% followed by 30% in 2012 and there has no announcement of loss in the last two years either 1. Besides the profits increasing annually, the firm’s market share

Facebook Financial evaluation Essay Example | Topics and Well Written Essays - 1000 words

Facebook Financial evaluation - Essay Example It is today headquartered in Palo Alto, California. In the year 2011, Facebook recorded revenues of $1.5 billion and was considered the largest for a venture capital raised by private equities (Annual Report, 2012). This remarkable return was attributed to engaging in partnership, advertising and analytics business. In addition, the company had been experimenting video streaming rentals and daily coupons and deals that have also proved potential areas for growth. This essay evaluates Facebook financial statements by reviewing the following financial ratios: a) current ratio, b) inventory ratio, c) debt to equity ratio, d) net profit margin, e) return on equity, and f) price earnings ratio to determine its performance between year 2010 and 2012. Current ratio This ratio determines firm’s ability to take care of short-term obligations. The higher the ratio, the more capable the company is to off-set its obligations and the lower the ratio the lower chances to meet short-term fin ancial obligations (Brigham & Houston, 2001). Current ratio= current assets/ current liabilities Details 2012 2011 2010 Current Assets 11,267 4,604 2,762 Current Liabilities 1,052 899 978 Current Ratio 10.71 5.12 2.82 The ratio has been on the increase from year 2010 at 2.82 to 10.71 in year 2012. This indicates that Facebook capacity to pay its short-term obligations has been on the rise (Eljelly, 2004). In addition, the company’s cash reserves have increased as well as its marketable securities. However, the current liabilities have increased at a reduced rate over the three years compared to increase in current assets. Inventory ratio This ratio indicates the number of times a firm’s inventory is sold and replaced over a given period. Low turnover shows poor sales, hence excess inventory whereas high ratio indicates effective buying or strong sales. Inventory turnover= sales/ Inventory Details 2012 2011 2010 Revenues 5,089 3,711 1,974 Inventory 0 0 0 Inventory turno ver ratio 0 0 0 In this case, the ratio is not applicable since the organization does not deal with physical stocks. Facebook engages in sale of services and hence stock does not form part of its financials. Debt to equity ratio This ratio measures Facebook financial leverage by dividing all the liabilities by stockholders equity. The ratio indicates the part of equity and debt the company has applied to finance its assets. Debt/ Equity ratio= Total liabilities/ Shareholders Equity A high ratio indicates that a company finances its growth with excess debt capital, hence leading to volatile earnings due to high interest expense (Campbell, Hilscher & Szilagyi, 2008). Basically, if a company’s operations are financed mainly through debt capital, the company may generate more earnings meaning it will have enough resources to cover costs of debt and also a return for shareholders. In the table below, it is evident that Facebook has consistently maintained equal portions (29%) of b oth debt and shareholders’ equity to finance it assets. Details 2012 2011 2010 Total Liabilities 3,348 1,432 1,002 Shareholders’ Equity 11,755 4,899 3,429 Debt/Equity Ratio 0.29 or 29% 0.29 or 29% 0.29 or 29% Net profit margin Net profit margin ratio shows the level of business profitability. It is computed using after-tax income that is then divided by revenue amount. Basically, the ratio indicates sales amount that is left after all expenses have been settled. Further, it

Marxism Analysis of The Lower Depths Essay Example for Free

Marxism Analysis of The Lower Depths Essay Maxim Gorky’s â€Å"The Lower Depths† shows the struggle between classes. Unquestionably, its focus is on the lowest of the economically low class people being controlled by the bourgeoisie. It is also a representation of how cruel the society could be towards them and how, in turn, the people are affected by the society. Although the play talks of the story of low class people –the vagrant, the gambler, the ex-artist, the ex-aristocrat, the prostitute, and so many others, the thief’s character is the best to display the struggle between the classes. Thieves are likely to be wicked, troublesome, and disobedient. However, the thief in the text projects only the wickedness and troublesomeness but is not really disobedient. He is a bit subservient to the whims of their landlady. Though it is true that there are times when he doesn’t want to follow what the woman says, in the end the woman would always find a way to make him do whatever she likes. For instance, when the landlady wanted the thief to kill her husband, the thief refused. And to bring her plans into reality, she beats Natasha –whom the thief cared about. This made the thief furious and he went to confront the landlady but he incidentally killed her husband instead. Aside from this, the fact that the landlady â€Å"owned† her sister Natasha made the thief adhere to her caprice. He is always protecting his love and is willing to do everything to spare her from the landlord and the landlady’s injustice. The text embodies how the low class people resist the ideology of those in the higher classes. However, because of circumstances they are in, they end up going along with whatever those in higher classes’ demands. The lower economic groups are ignored in this text by those higher than them. The mere title of the play is distasteful. The place where the characters live is created and tagged as the lower depths by no other than the society itself. This just means that the society is also the primary reason for the repression experienced by the people. What the society didn’t realize is that these low class people are in the lower depths because they are deprived of chances to attain their goals and they are put on circumstances that destroy their self-confidence. The system of the ruling class caused the alienation of the low class people, therefore causing them not to be able to live their lives to the fullest. Also, the setting is where the characters tell their stories and debate on whether it is better to live without illusions on ones own capability or to embrace a romanticized view of the world in order to protect oneself from the pain of daily life. In the play, it is the character of Luka who seems to idealize everything in life and the one who demonstrate that philosophy is meant to be used as an instrument to initiate change. Precisely, it was him who played the opposing figure to the rest of the characters. He is an example of an old man whom experiences made wise. He serves as an inspiration to everyone he meets by urging each of them to start a new life. In spite of this, his extreme optimism could also be the same reason why his life failed. And although he amazed the neglected lower class people in the lower depths, his arrival in their lives was too late that their energy and will has already taken from them. No matter how those people try to ascend from the social swamp, they are always shoved back into the depths. For example, when Natasha and the thief were about to begin a new life, destiny surpass them. Natasha was terribly beaten by her sister and when the thief came to confront the landlady, he accidentally killed the landlord. The theme of the play could be about the dominance of the higher class over the lower classes. As one of the play’s characters puts it â€Å"And so for all the others. Locksmiths then bootmakers and other working folk and all the agriculturals and even the gentry they live for the better man! Each thinks es livin fer imself, yet it turns out its fer that better man†. All of them who live in the depths and all the other workers seem to believe that they are living for themselves. What they don’t realize is that they are living to work and feed the bourgeoisie. And aside from this, the fact that the characters came from different field means that the bourgeoisie could control all aspects of the culture. To sum up, the play is a depiction of how the bourgeoisie rule the society. And the fact that the society puts the label to people shows how powerful it could affect other people’s lives.

A review of capital structure theories

A review of capital structure theories 1.0 Introduction One of the most contentious financial issues that have provoked intense academic research during the last decades is the theory of capital structure. Capital structure can be defined as a Mix of different securities issued by a firm (Brealey and Myers, 2003). Simply speaking, capital structure mainly contains two elements, debt and equity. In 1958, through combining tax and debt factors in a simple model to price the value of a company, Modigliani and Miller firstly begin to explore a modern capital structure theory, and their work inspired this area study. However, the MM theory has no practical use because it lacks of direct guidance for companies to determine capital structure in real life (Baxter, 1967; Sarig and Warga, 1989; Vernimmen et al, 2005). During the past years, researchers strived to establish a more reasonable capital structure theory that can be put into practices efficiently, and they attempted to expand debt ratio and tax advantage factors into a new area. Myers (1984) states that only practical capital structure theories, which introducing adjustment cost that includes agency cost and information asymmetry problems, could provide a useful guidance for firms to determine their capital structure. However, from recent studies, Myers (2001) believes that how information differences and agency costs influence the capital structure is still an open question. From this perspective, it is very important to review the development of these two factors which make theoretical research having a strong relationship with reality. Thus, this project will summarize the capital structure theories orientated by agency cost and asymmetric information from extant literature. Also some gaps and conflicts among theories of capital structure will be found and discussed in order to further improve this area study. The rest of this project is arranged as follows. Section 2 will present the theories based on agency costs that causes the conflicts between equity holders and debt holders or managers. Section 3 will illustrate from two areas, interplay of capital structure and investment, followed by signal effect of debt ratio, to show the theories based on asymmetric information. In conclusion, Section 4 will summarize the entire essay and suggest further research direction of capital structure theory. 2.0 Capital structure theories based on agency costs Although Berry and Means (1931, cited in Myers, 2001) state an adverse relationship between the separated ownership and corporate control status, it commonly admits that Jensen and Meckling (1976) firstly conducted the research in how agency costs determine capital structure (Harris and Raviv, 1991). Over the past decades, researchers have tried to add agency costs to capital structure models (Harris and Raviv, 1991). The perfect alignment between firm investors and firm agencies, such as managers, does not exist (Myers, 2001). According to Jensen and Meckling (1976), company agents, the managers, always emphasize on their own interests, such as high salary and reputation. Also these company agents use entrenching investments, which make the asset and capital structure orientated by the managements knowledge and skills, to increase their bargaining power with the true company holders (Chen and Kensinger, 1992). However, Myers (2001) believes that the firm holders can reduce such transferred value through using different kinds of methods of control and supervising, but he further points out the weakness that these methods are expensive and reduce returns. As a result, the perfect monitoring system is out of work, and agency costs are produced from these conflicts. According to Jensen and Meckling (1976), the conflicts between investors and agencies are generally divided into two types. The first conflict occurs between debt holders and equity holders, and the second conflict is from between equity holders and managers. Consequently, all the capital structure theories based on agency costs can be also classified based on these two conflicts. In the rest of this section, each individual conflict will be separately discussed. 2.1 Conflicts between Debt holders and Equity holders Jensen and Meckling (1976) point out that agency costs problems happen in determining the structure of a firms capital when the conflict between debt holders and equity holders is caused by debt contracts. Similar to Jensen and Mecklings conclusion, Myers (1977) observes that since equity holders bear the whole cost of the investment and debt holders get the main part of the profits from the investment, equity holders may have no interest in investing in value-increasing businesses when companies are likely to face bankruptcy in the short term future. Thus, if debt occupies a large part of firms capital, it will lead to the rejection of investing in more value-increased business projects. However, in 1991, Harris and Raviv cast a contrasting opinion to adjust the capital structure theory based on this conflict. They point out that most debt contracts give equity holders a push power to invest sub-optimally investment project. If the investment fails, due to limited liability, debt holders bear the consequences of a decline of the debt value, but equity holders get most of yields if the investment could generate returns above the debt par value. In order to prevent debt holders from receiving unfair treatment, equity holders normally get less for the debt than original expectation from debt holders. Thus, the agency costs are created by equity holders who issue the debt rather than debt holders reason (Harris and Raviv, 1991). Tradeoff capital structure theory has a basic and strong relationship with this type of agency costs. However, different researchers hold various explanations of the relationship. Myers (1977) points out the debt cost reason, Green (1984) announces that convertible bonds can reduce the asset substitution problem which comes from the tradeoff theory, Stulz and Johnson (1985) consider about collateral effect. In the end, only Diamond model (1989) is widely accepted. If Equity holders do not consider reputational reason, they are willing to trade relatively safe projects, but this activity will lead to less debt financing (Diamond, 1989; Mike et al, 1997). Diamond model (1989) assumes two tradeoffs, risky and risk-free, to show that the debt repayment should consider both possible investment plans. Furthermore, Mike et al (1997) use empirical evidence to indicate how to use debt to trade off these two optional investment plans. Moreover, in 1991, Harris and Raviv expanded Diamonds model to three investment choices. They point out that one choice of investment can only contain the risk-free project, one option can invest in risk project and the last option combine both risk-free and risk projects. In fact, since the reputation factor is vital for a manager, managers are willing to choose risk-free investment projects that have more possibility of success. Consequently, the amount of debt is often reduced by managers. 2.2 Conflicts between Managers and Equity holders Jensen and Meckling (1976) also states that conflicts naturally arise between managers and equity holders since managers just hold parts of the whole firms capital. Consequently, firm mangers only benefit from part of the profit generated by their business activities, but they simultaneously bear the whole cost of these actions. However, Myer (2001) casts a different opinion about the reason of the conflict and claims that in fact, managers never bear the full costs of the business activities unless the manager is also the firms investor. He further maintains that the real cause of the conflict is due to an imperfect observable reward system between investors and managers, because both parties have different standpoints to measure their own interest, especially the rewards. There are two dominant models, the Harris and Raviv model and the Stulz model, to explain this area. Although both models have a common assumption that labor contracts cannot address the conflict between managers and equity holders, both models hold different opinions about debt release and the problem in the drawbacks of debt in the capital structure. According to Harris and Raviv model (1990), managers are designed to want to continue the companys current operations all the time even if equity holders prefer the liquidation of the company. However, in Stulz model (1990), managers are keen to invest all available funds even if the equity holders can benefit from paying out cash. Moreover, Harris and Raviv (1990) point out that debt alleviates the agency costs and the conflict results from giving equity holders the chance to speed up liquidation when cash flows are hard to predict. In contrast, Stulz (1990) based on Jenson model (1986) concludes that debt payments reduce free cash flow. He further maintains that the debt costs reduce the available funds of a profitable project, since the costs result from debt payment that more than exhausts free cash flow. As a result, capital structure can be determined by trading off debt advantages against debt costs. 3.0 Capital structure theories based on asymmetric information The development of information modeling provides a possible approach to explain capital structure. In these capital structure theories, company insiders, such as managers, are assumed to obtain all private information about the investment opportunities or investment return. Some theories try to find out how the allocation of capital structure passes the insiders information of a firm to outsiders. Meanwhile, in other theories, the purpose of the capital structure is to improve efficiencies in the companys investment activities under asymmetric information (Vernimmen et al, 2005). The rest of this section will be divided into two subsections based on both sets of theories mentioned above. 3.1 Interplay of capital structure and investment This area of research begins with two vital academic papers, Myers and Majluf (1984) and Myers (1984). According to Myers and Majluf (1984), the firms equity will be mispriced by the market when investors obtain less information of one firms assets value than the firms current insiders. Moreover, they further point out that if firms issue equity to absorb capital for a new investment, mispricing may make a net loss to the firms current shareholders. In Myers second paper (1984), he formally defines this as a pecking order capital structure theory. In this theory, a firms capital structure is determined by the purpose of the company to finance new investment. Furthermore, with the development of the Myers pecking order theory, researchers find some vital empirical implications of this theory. Krasker (1986) confirms the results of Myers theory (1984) and also shows that the larger the equity issue, the worse the asymmetric information problem and the firm with worse asymmetric information problems will often have a more under price problem. Ebsen (1986) finds that if managers could trade their firms new equity, the under price problem caused by asymmetric information will be reduced. Then Dierkens (1991) argues that the under price problem can be solved by information releases such as annual financial statement reports. However, some economists cast a doubt on the pecking order theory. These theoretical researches have a common feature that they all put investment situations under the pecking order theory but provide more finance choices for a firm. Brennan and Kraus (1987) state that it is not necessary for a firm to have a preference for financing through debt over equity and the under price problem can be addressed through various financing options and simple capital structure rather than solving asymmetry information problem. Their findings are also confirmed by Noe (1988). Moreover, in 1993, Nachman and Noe put Brennan and Kraus theory into practice and also come to the same conclusion. 3.2 Signal effect of debt ratio After discussing models which investigate the interplay of capital structure and investment, it is vital to turn to models in which investment is a fixed factor and only capital structure is regarded as a private information signal. The investigation of this area starts with the work of Ross (1977). According to Rosss capital structure theory, only firms insiders, such as managers, can get full information of the firms return distribution, but investors cannot. The main empirical implication of Ross theory is that there is a positive relation between firm value and debt ratio. However, further research combines debt and dividend policy together to show an opposite opinion that a firm value is determined by dividend and debt ratio rather than a single factor of debt ratio (Vernimem et al, 2005). Furthermore, in 1982, Heinkel improve Ross model. His model is similar to Ross but does not have the same assumption. Instead, high market value firms are assumed to have high total value but low quality debt, thus high market value firms has high equity value. This finding has been consistent with further capital structure theoretical research (Franke, 1987; John, 1987). Another debt ratio signal model is built by Poitevin (1989). He firstly points out the potential competition between an entrant and an incumbent under the asymmetric information. According to Poitevin model (1989), the marginal costs of entrant are private information obtained only by the entrant, and in a stable situation, the capital of high cost entrants does not issue any debt while low cost entrants never issue equity. However, Glazer and Israel (1990) cast a different conclusion against Poitevin. They maintain that low cost entrants are willing to issue equity since they can much easier use this finance approach to reduce marginal production costs than the high cost entrants. Nevertheless, Harris and Raviv (1991) point out the weakness of the Glazer and Israel model is that they ignore the dividends finance factor which has the same signal effect as debt. Normally, a capital structure theory should combine various basic finance factors together. In the end, Glazer and Israel recognize this weakness and claim that their results cannot be considered as a capital structure theory. 4.0 Summary and Conclusion To sum up, this literature review of capital structure theories is element arranged. The set of theories based on agency costs and the set of theories based on asymmetric information are separately presented in the passage. Moreover, each set of theories can also be divided into several subsections. Agency costs cause two types of conflicts among stakeholders, and these conflicts affect a firms choice of capital structure. Moreover, capital structure theories show that under an asymmetric information situation, capital structure has a strong reaction with investment activities and debt ratio has a signaling utility for the determination of capital structure. The range of the selected paper is from 1958 to 2005. These papers cover majority parts of the study including agency costs, interplay of capital structure and investment, imperfect information situations and debt signal effect. Also these papers are all from core financial journals, e.g. Journal of Finance, Journal of Financial Economics, Journal of Financial Management, American Economic Review and Review of Financial Studies. Thus, this literature review can be considered to be efficient and thorough. This essay covers a considerable number of literatures which can present modern theoretical findings of capital structure. However, it should be noticed that the blooming period of capital structure theory is between 1970s-1980s. After 1990, the theoretical research seems to have developed very slowly, and the majority of papers in this field just review former findings since few new theories of capital structure come out. The direction of the theoretical research of capital structure should incline to be more practical. The future study should be extended in two areas. (1) Add psychosocial conditions and assumptions to improve extant capital structure theories. It is important to acknowledge that most capital structure theories cannot be used by companies in real life since these theories lacks of more reality factors. Thus, behavior finance could provide a new approach to extant theories. (2)Combine agency costs and asymmetric information problems together in one capital structure theory. Currently, both problems are discussed separately. However, companies often suffer from these two problems at the same time when they determine their capital structure. Consequently, it is necessary to set up a new theory based on both problems. Bibliography 1. Baxter, N. (1967) Leverage, risk of ruin, and the cost of capital, Journal of Finance, 22, pp. 395-403. 2. Brealey, R. A. and Myers, S. C. (2003) Principles of Corporate Finance. 7th edn. New York: The McGraw-Hill Company. 3. Brennan, M. and Alan, K. (1987) Efficient financing under asymmetric information, Journal of Finance, 42, pp 1225-1243. 4. Chen, A. H. and Kensinger, J. (1992) Uncommon Equity, Journal of Applied Corporate Finance, 5(1), pp. 36-43. 5. Diamond, D. W. (1989) Reputation acquisition in debt markets, Journal of Political Economy, 97, pp. 828-862. 6. Dierkens, N. (1991) Information Asymmetry and Equity Issues. Journal of Financial and Quantitative Analysis, 26(2), pp.181-199. 7. Ebsen, E. (1986) The Valuation Effects of Corporate Debt Offerings, Journal of Financial Economics. 15(1), pp. 119-152. 8. Franke, G. (1987) Costless signaling in financial markets, Journal of Finance, 42, pp.809-822. 9. Glazer, and Israel, R. (1990) Managerial incentives and financial signaling in product market competition, International Journal of Industrial Economics, 8, pp. 271-280. 10. Green, R.C. (1984) Investment incentives, debt, and warrants, Journal of Financial Economics, 13, pp. 115-136. 11. Harris, M. and Raviv, A. (1990) Capital structure and the informational role of debt, Journal of Finance, 45, pp.321-349. 12. Harris, M. and Raviv, A. (1991) The Theory of Capital Structure, The Journal of Finance, 46(1), pp. 297-355. 13. Heinkel, R. (1982) A theory of capital structure relevance under imperfect information, Journal of Finance, 37, pp.1141-1150. 14. Jensen, M. C. and William, H. M. (1976) Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure, Journal of Financial Management, 3(4), pp. 305- 360. 15. Jenson, M. C. (1986) Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers, American Economic Review, 76(2), pp. 323-29. 16. John, K. (1987) Risk-shifting incentives and signaling through corporate capital structure, Journal of Finance, 42, pp. 623-641. 17. Krasker, W. (1986) Stock price movements in response to stock issues under asymmetric information, Journal of Finance, 41, pp. 93-105. 18. Leland, H.E. (1994) Corporate Debt Value, Bond Covenants, and Optimal Capital Structure, Journal of Finance, 49(4), pp. 1213-1252. 19. Mike, B., Gromb, D. and Panunzi, F. (1997) Large Shareholders, Monitoring and the Value of the Firm, Quarterly Journal of Economics, 112, pp. 693-728. 20. Modigliani, F. and Miller, M. H. (1958) The cost of capital, corporation finance, and the theory of investment, American Economic Review, 48, pp.261-297. 21. Myers, S. C. (1977) Determinants of corporate borrowing, Journal of Financial Economics, (5), pp. 147-175. 22. Myers, S.C. (1984) The capital structure puzzle, Journal of Finance, 39, pp.575-592. 23. Myers, S. C. and Majluf, N. S. (1984) Corporate financing and investment decisions when firms have information that investors do not have, Journal of Financial Economics, 13, pp.187-221. 24. Myers, S. C. (2001) Capital Structure, The Journal of Economic Perspectives, 15(2), PP. 18-102. 25. Nachman, David C. and Noe, T. H. (1993) Design of securities under asymmetric information, Working paper, Georgia Institute of Technology. 26. Noe, T. (1988) Capital structure and signaling game equilibria, Review of Financial Studies, 1, pp. 331-356. 27. Poitevin, M. (1989) Financial signaling and the deep-pocket argument, Rand Journal of Economics, 20, pp.26-40. 28. Ross, S. (1977) The determination of financial structure: The incentive signaling approach, Bell Journal of Economics, 8, pp.23-40. 29. Sarig, O., and Warga A. (1989) Some empirical estimates of the risk structure of interest rates, Journal of Finance, 44, pp. 1351-1360. 30. Stulz, R. and Johnson, H. (1985) An analysis of secured debt, Journal of Financial Economics, 14, pp. 501-521. 31. Stulz, R. (1990) Managerial discretion and optimal financing policies, Journal of Financial Economics, 26, pp.3-27. 32. Vernimmen, P., Quiry, P., Dallocchio, M., Fur, Y. L., Salvi, A. (2005) Corporate Finance: Theory and Practice, 6th edn. West Sussex: John Wiley Sons. Ltd.