Opinion Esay (Government) Essay Example | Topics and Well Written Essays - 250 words

Opinion Esay (Government) - Essay Example Most of the Americans wish to live without any debt and have the ability to retire at 65 years, but this can only happen if they accumulate large amounts of wealth. The American constitution offers equal opportunity to all citizens in achieving the American dream. However, achieving the American dream is becoming more challenging in the society today. The rising difference in the wealth gap between races is an example of how hard it has become to achieve the American dream. The difference is evident even in the racial line with the whites having better living standards and opportunities than the black Americans. The racial wealth gap in America is becoming deeper showing the inequality in the American society (Johnson, 2). Some individuals may feel to be in better position than their parents, but the whole society is experiencing increasing gaps in opportunities available. The gap shows that the future generation may not be able to have equal opportunity in achieving their

How to Become an Interior Decorator Essay Example for Free

How to Become an Interior Decorator Essay Analyzing interior designing websites provide excellent information to aspiring interior designers and decorators. Interior designing and interior decorating appears to be an easy, fun career. How hard can it be to transform rooms into a fantasy comparable to DisneyLand? Researching sites allows the student to make necessary accommodations to achieve their objective. Atotalwaste. com/interiordecorator is a site providing easy to understand and clear distinctions between a designer and decorator. The site very clearly lists the job duties and education requirements of a designer and decorator. It states the list of organizations associated with interior designing. The difference of what a designer does and a decorator does are listed. The site explains why the requirements for interior designers are more thorough. Interior designers are responsible for a lot more than just the physical appearance of a room or home they are decorating. They are also responsible for the safety and welfare of the public. The contribution of the designers is clearly outlined. Everyone on the outside looking in, envisions designers making buildings, rooms, and houses look very pretty. The article lists duties that no one realizes. Designers work on public buildings, such as airport terminals. Interior designers are hardly imagined as someone responsible for airport security. The site gives an overall positive image of interior designers. The designers are spoken in higher regard than decorators. â€Å"Anyone can be an interior decorator† does not show a flattering or respected image of decorators. It compares designers and decorators like nurses and nurse’s aids. Designers depend on decorator’s assistance. â€Å"I do not want to have to spend years of studying, worrying about things like building codes, and write an examination to be certified. Can I just start decorating people’s houses without going through all that. † People attracted to this profession are not likely to have such an attitude. Toward decorators, a hard language is used. Decorators are shown as more of a working class profession instead of professionals. Many designers start off as interior decorators, but have goals to become designers. Respected, upper class people are drawn to this profession, both designing and decorating. There are some people who just want professional advice to decorate their houses or friends houses, but they are not drawn to the profession. In that situation, they would attend a lecture or meeting given by a professional designer or decorator. The site speaks much softer and flattering of designers. Health, codes and safety, except for a brief overview of designer’s responsibilities, are not mentioned. It does mention that professional standards are set by the American Society of Interior Designers or the Interior Designers of Canada. Certification and testing through National Council for Interior Design Qualification are mentioned. The specifics are not. Exact privileges once designers fulfill requirements are not listed in the site. Designers are responsible for health, codes and safety, but no actual details are listed. Overall this site does speak well of interior designers. Interior designers work for and earn the prestige and respect they receive. Unknown important responsibilities of designers are mentioned. It shows surprising facts that designers have a very important role to play. Interior designers are not just there to make a beautiful fantasy happen. It looks that way. Atotalwaste. com provides somewhat uncommon information on interior designing profession.

Analysis Of Basf Chemical Company Commerce Essay

Analysis Of Basf Chemical Company Commerce Essay Here is background of BASF Company. BASF is leading chemical company on the world market. It has four production market departments: Europe, North America, South America and Asia. Moreover, the production of the company is separate in sex different segments: Chemicals, Plastics, Performance Products, Functional Solution, Agricultural Solution and Oil Gas. The department located in Germany is oriented in production of personal care products, so called Performance Products. BASF does not sell product to the final customer. Its products are intermediates like catalysts, molecules and raw materials, which are used from other manufacture companies. The main mission of the company is to produce products for sustainable future. The report objective is to analyzing the external and internal environment of BASF Company. This is useful for understanding the company`s current situation. Based on these analysis, this report gives recommendations to the company, how to keep its position on the market and to use on the best way its opportunities. Research information was collected in the fallowing way. Firstly, was done the secondary research. For it the main source was internet. Secondly, the primary research was done by conducting an interview with Mrs. Sengel, who is member of Executive Board of the company. Finally, based on collected information the company`s strengths, weaknesses, opportunities and threats was analyzed with used of SWOT analysis. Based on the analyzed information, research results are as fallow. BASF is leading company on chemicals market. One of the company`s strength are so called Verbund sides perfect conglomerates between different departments of the company. Every product produced in the company is used in the most efficient way. BASF has opportunity to rising commodity chemicals market in regions like Africa, Asia Pacific and Middle East. The company is negative influenced by some economical factors like increasing energy prices and current credit crisis. Moreover, the negative political factors which influence the company are different laws and regulars in European Union about Genno modified products and some kind of molecules. The threat for the company is raising competition. In conclusion, BASF is leading company with a lot of strengths and opportunities. There are some external threats, which influence the company. Nevertheless, if the company use its own potentialities and hold on external negative factors, it can develop its market positions and to expect its great future. Recommendations are as fallow. Firstly, the most important thing for the company is to make innovations. This gives opportunity to BASF to be better than competitors. The company can develop the business if it is oriented to the market place in new development countries like Asia and Middle East. Secondly, internal environment of BASF will be better if there are more common and strictly rules for the employees of every department. Moreover, the company has to hold the good communication within the different departments. Finally, if company makes more researches it will know better the customers needs and demands. To close, BASF has to do everything possible to create products for sustainable future. III. Preface Here is the framework within which this report has been written. This report functions as a final output of PLA1-Project Organisation of Business. During this project, we worked in a group of students. Our purpose was to analyze a chemistry company BASF located in Dusseldorf, Germany. This is how we made our purpose, reality. During lectures, we studied theories of primary and secondary research, useful for analysis of a company. After that, we did secondary research into BASF`s internal organization. Furthermore, we did interview with Mrs. Sengel, who is member of Executive Board of the company. All of this data, our group prepared a group file. Finally, the collected information was analyzed. Based on this analysis, the individual report was written, that now lies before you. In this report, I address the fallowing audience. My primary audience is my lecture M.Sc. M.Hajjoubi, who will graduate my report. My secondary audience is every person who works in BASF Company and who is interested in read it. I would like to express my gratitude to the fallowing people. First, I would like to thank to my group members Simon Braun, Muzzeyen Gundoghu, Anna Wolter, Ivet Mladenova, Mo Vania and Radu. It was pleasure and really useful experience to work together with you as a team. Secondly, I would like to express my sincere appreciation for our PLA1`s lecture M.Sc. M. Hajjoubi, whose consultations, guidance, understanding and patience support us from our fist week till the end of this project. Thirdly, special thanks are due to Miss. C. Jacobs, for her efforts and guidance to improve our language skills. Last but not least, I proffer my heartfelt thanks to Mrs. Sengel with who we made our interview. Without contribution of these people, this analysis would not have been possible. Place: Venlo, the Netherlands 11th November, 2012 Eleonora Georgieva Table of contents PLA1 report Title page à Ã¢â‚¬   Summary à Ã¢â‚¬  Ãƒ Ã¢â‚¬   Preface à Ã¢â‚¬  Ãƒ Ã¢â‚¬  Ãƒ Ã¢â‚¬   Table of contents à Ã¢â‚¬  V Glossary V 1. Introduction 1 2. Company description 2 2.1 General company description 2 2.2 Product description 2 3. Project description 3 3.1 Project description 3 3.2 Project aim 3 3.3 Research approach 3 4. Theoretical framework 4 4.1 External analysis 4 4.2 Internal analysis 5 4.3 SWOT overview 6 5. External analysis 7 5.1 Political factors 7 5.2 Economic factors 7 5.3 Social factors 7 5.4 Technological factors 7 6. Internal analysis 8 6.1 McKinsey 7S framework 8 6.2 Interconnection of the 7s 9 7. SWOT overview 11 8. Conclusion 12 9. Recommendation 13 10. Critical appraisal 14 Reference list Appendix 1 15 V. Glossary PEST Analysis Political, Economical, Social and Technological factors which are analyzed SWOT Analysis Strengths, Weaknesses, Opportunities and Threats analysis R D Research and Development department 1. Introduction To start, here is the macro perspective on BASF Chemical Company. BASF is one of the leading chemical companies in the world, like this BASF is influenced by many political and economical factors. Different laws and regulations determine the production of the company. Moreover, the technological factor has hardly influence in this area of chemical production, where the innovations are leading force. In addition, the main mission of the company is to create chemistry for the sustainable future. Consequently, BASF Company has a lot of strategic methods to achieve its goals. This report has some objectives. To start, one of the main objectives of the report is to analyze BASF Company. To show the strengths and opportunities of the company`s future development. On the other hand, this report presents the weaknesses and threats of the company, for which it gives advice to make BASF more successful. In other words, this report aims to gives advice to BASF Company how to improve its internal and external situation. The following information was collected for this report. For collecting of information were used two main research methodologies. First, secondary research was done on micro and macro environment of BASF Company, for which the main source was used internet. Second, the primary research was done by conducting an interview with Mrs. Sengel, who is member of Executive Board of the company. The report has the fallowing structure. In chapter two, BASF Company and its product line are shown. In chapter three, the project`s description and aim are explained. Chapter four of the report is the Theoretical Framework of the report, in which the McKinsey`s seven S model, PEST analysis and SWOT analysis are theoretically described. In chapter five and six, PEST analysis and McKinsey`s seven S model are attached to collected information. PEST analysis is used to analyze BASF`s eternal environment, while the McKinsey`s model is used to analyze BASF`s internal organization. In chapter seven, is shown SWOT analysis based on the collected information. In chapter eight the conclusions based on the analyses are drawn. In chapter nine, recommendations for company improvement are given. In chapter ten, this report is critically appraised. 2. Company description 2.1 General Company Information Here is general information about BASF Company. BASF is the leading chemical company, which chemicals are used in almost all industries. The production of the company is separate in six different segments: Chemicals, Plastics, Performance Products, Functional Solution, Agricultural Solution and Oil Gas. BASF like an International company has 70 global and regional business units around the world. The department in Germany is thoroughly oriented in produce of Performance Products. BASF combine economic success, social responsibility and environment protection. The main mission of the company is to create chemistry for a sustainable future. BASFs 111, 141 employees, located all over the world, help the company to achieve its goals. BASF is market oriented in four main areas: Europe, North America, South America and Asia. In 2011, the most sales are made in Europe and company`s annual turnover amounted to 73, 5 billion Euros. 2.2 Product Description Germany`s department of BSAF has a broad range of products. The main segment is called Performance Products, which includes the fallowing product lines: Dispersions and Pigments, Care Chemicals, Nutrition and Health, Paper Chemicals and Performance Chemicals. The product portfolio of the company in this segment includes vitamins and foods additives, ingredients for pharmaceuticals and for hygiene, home and personal care items. Examples are products for hair care, sun and decorative care, body care, facial and oral care. The company does not offer products to the final client. BASF develop and sale molecules, catalysts and ingredients to the other companies which use this things for manufactures of products for final client. These things are not end- product; they are intermediate products which go to other steps of the production process. 3. Project description This chapter will give project description. The chapter will be separate in tree sub chapters, which will describe project description, project aim and research approach. 3.1 Project description This sub chapter will show the project description. To start, BASF is one of the leading chemical companies on the world market. In this market there is a big competition. Firstly, the future opportunity for the company is to create new products. Secondly, to find new market`s possibilities. Thirdly, one of the most important things in this branch is innovation. On the whole, to achieve its goals, BASF have to understand its own strengths and weaknesses. 3.2. Project aim The purpose of this sub chapter is to explain the project aim. For this project was collected information about external and internal environment of BASF Company. The aim of this project is to understand the company`s situation based on McKinsey 7S analysis, PEST and SWOT analysis and based on it to give recommendations about BASF`s future development. Furthermore, to show BASF`s strengths, weaknesses, opportunities and threats. In other words, these are most important factors which describe present situation and future possibilities for one organization. 3.3 Research approach To start, for analysis of BASF Company`s present situation are used two research methods. First, the primary research was done by conducting an interview with Mrs. Sengel, who is member of Executive Board of the company. This information is used for internal analysis of the company. Second, the external environment is analyzed by secondary research method. This includes McKinsey 7S analysis and PEST analysis. Thirdly, the strengths, weaknesses, opportunities and threats are described with use of SWOT analysis. In conclusion, all of collected information is used to give recommendations of the company, about its future development. *The world can be seen in the Glossary 4. Theoretical framework The purpose of chapter four is to show the theoretical framework of internal and external analysis. Hence, the real companys situation will be shown. First, in sub-chapter 4.1 will be shown the internal analysis- McKinsey 7S model. The model include seven elements, which are separated in so called hard S`s Strategy, Structure and Systems and four so called soft S`s Shared Values, Skills, Staff and Style. Second, in 4.2 will be discusse the external PEST analysis. In other words, Political, Economic, Socio-cultural and Technological factors that influence the company will be include. Finally, in 4.3 SWOT- overview of the company will be given. 4.1 Internal analysis Figure 1: McKinsey 7S model 7S.gif Source: 7S strategy software In this paragraph will be shown the so called hard S`s of McKinsey 7S model. Firstly, Strategy describes actions and plans of an organization to achieve specific goals. The external environment influences the company and its strategy. Thus the enterprise prepares to adapt on changes and to determine the right place among customer and competitors. Secondly, Structure describes the hierarchy of the company. It shows the relationships between the people which work in the organization. It can be seen on the organization chart. It always depends from the business strategy, form the business internationalization, size and diversity. The third S from so called hard Ss is Systems. Systems are all procedures which company uses to operate every day. This includes internal and external procedures. Systems are directly related to the Structure and Strategy of the company, because they describe the main practices of the organization to achieve its goals (Cuypers 2010, 3-9). The soft S from McKinsey 7S model, which will be given in this paragraph includes Shared Values, Skills, Staff and Style. Peters and Watermans (1984) argued that shared Values in 7S analysis determine the core guiding principles of the company. Moreover, it refers to what an organization stands for and believes in. Understanding the Shared Values of the company is the easiest way to find the main ideas and goals of the enterprise. To achieve these goals helps Skills. Skills are the unique abilities of the company. Skills describe the capacity and quality of the company in contrast with the competitors. It refers to the learned capability of staff within the company. Very important here is quality of the products and services within the organization. These things are related with the Staff and Style of the company. Staff refers to the number and type of people employed by the company. However, staff describes the processes used to manage the careers of employees. It is related to the Style, because it is directly dependent on the human resources system that manage the way staff is encourage, reward and motivate. Style is the work culture. It is describe the main way in which senior managers run the organization. It is related to the system that influences the procedures in the company. The most important things that style describes are how managers allocated their time, beliefs and their leadership skills. The main factors are the size and the structure of the organization which determines how different departments inside of the company are managed (Spencer, 2011). 4.2 External analysis In the first place, every organization depends on the political factors. Political factors include government regulations and legal issues. The political factors define the structure of the company and the rules under which the company must operated. It depends on the structure, because in the different countries the trade restrictions, tariffs, tax policy and employment laws are not the same (Oxford University Press, 2004). The second factor which directly influences every kind of company or organisation is the economic factor. The economic environment consist different factors, for example income and income distribution, current and project economic growth, inflation and interest rate. This environment can offer to the company both opportunities and threats. Understanding of economic environment determined the company development (Oxford University Press, 2004). Thirdly, the company is influenced by social factors. This lifestyle trends and demographic changes determined the consumer behavior. The main purpose of every company is to understand which exactly are the consumers wants and needs. If social-cultural changes are clear, it is easier for the company to developing strategies and practices to achieve its goals (Oxford University Press, 2004). Finally, in these days, one of most important factors which influence the company is technological environment. This is the most dramatic and the fastest development factor. These are forces that create new technologies, products and market opportunities. In the world of technology, the company has to be open and prepare for new opportunities (Oxford University Press, 2004). 4.3 SWOT According to Berry, the SWOT analysis is an extremely useful tool for understanding and decision-making for all sorts of situations in business and organizations. SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats (Berry, 2012). Strengths are internal capabilities that may help the company to reach its objectives; in contrast weaknesses may interfere for that. This includes understanding of the internal environment or the situation inside of the company or organisation. The factors which determined the straightness and weaknesses of the company are tend to be in the present. Factors are relating to products, pricing, quality, staff and processes within the company. With understanding of these factors the company may understand the unique selling proposition and how to improve it (Berry, 2012). Opportunities and threats are related with the external environment which shows the situation outside of the company or organisation. Here, the factors tend have to be in future. Factors here are relating with markets opportunities fashions, trends, seasonability, politics, society, competitors and every other external factor which influence the company. With understanding of opportunities company is able to exploit the external factors to its advantage. Threats are negative factors that may challenge the company`s performance (Berry, 2012). 5. External analysis This chapter explains the external environment analysis PEST. The chapter is divided into four sub charters. Firstly, sub chapter 5.1 will give the Political factors, which influence the BASF Company. Secondly, 5.2 illustrate Economic factors. Thirdly, 5.3 show Social factors. Finally, sub chapter 5.4 analyzes Technological factors which influence the company. 5.1 Political factors There are some political factors, which influence BASF Chemical Company. One of these factors is a common initiative for a sustainable chemicals industry has launched by European Union in 2005 year. This factor has a positive effect on BASF, because the mission of the company is to create chemicals for sustainable future. This political factor gives opportunity to the company to make more innovations with collaboration on European Union. The negative political factor for the company is unfavorable political environment. In European Union there are different laws and regulations about Genno- modified products and some molecule products. For these reason USA is more favorable market for these kinds of products (Thomas, 2005). 5.2 Economical factors One of the results from present credit crisis is reduced consumption of customers. This is strong factor, which influence BASF Company. It makes the future more unstable and precariously. Only the best companies with the best products could keep their market`s place. The second economic factor which influences BASF is increasing energy prices. It is negative because it could damage chemicals industry competitiveness further. On the other hand, there is increasing competition from new economic powers, such as China. To avoid these negative factors, BASF Company could orientate to different markets, such as Africa and Middle East (Thomas, 2005). 5.3 Social factors In chemical`s industry is very complicated to find new well educated faces. The reason is the fact that young people choose other careers in different branch. Young talents in chemical`s branch, which are well educated require very high remuneration and good working conditions. BASF Company is working to improve matters. Flexible working time is one of decisions of the problem. On this way could be attached qualified labour (Thomas, 2005). 5.4 Technological factors For BASF Company the technological innovations are very important. The main reason is that technological innovations gives opportunity to the company to make products better, and to add new products in company`s portfolio. The company is focus of solutions for sustainable future, and definitely innovations are the key point for it. At all, the global technology platforms act as partners in product development (Thomas, 2005). 6. Internal analysis 6.1 McKinsey seven S framework To start, for BASF like as world`s leading chemistry company is very important to strengthen its position on the market. To achieve this goal, company has to focus their business on customer`s needs and demands. In chemistry market, and for company, which do not produce product for the final consumer is required to focus on innovation, to create new products and functionalized materials, and to find new solutions for more sustainable future. These things are very important too, for the other aim of the company, which is to increase year`s profit with average four percent per year, and to grow two percentage points faster than global chemical production (Interview, Appendix 1) (BASF, 2012). The structure of BASF Company is a Matrix structure. The Matrix organizational structure divides authority both by functional area and project area. In BASF there is Board of Executive Directors which consist eight members. They are responsible for the management of the company. The Board of Executive Directors regularly reports to The Supervisory Board. Supervisory Board consist 12 members, six shareholders representative elected by the Annual meeting and six members appointed by the representative body of the employees. Every country and every different department in BASF Company has a chief, who are supervise from the Chairman of the management board Kurt Bock (Interview, Appendix 1) (BASF, 2012). The company systems are very important for the business and for good done work. BASF has an own marketing department in every country where the company is located. In addition, they have supporting marketing agency outside the company, which helps them to develop the motives and the way BASF wants to present itself to the customers. Like a chemicals company, BASF use only trait media for advertising home personal care magazines or euro- cosmetic magazine, which are special magazines for cosmetic market. To exist and to be successful a big company like BASF is necessary to have fixed rules and good communication between different departments. Primary method within the company to discuss the problems and development in the market are manager`s meetings. The complicated structure of the company determined the need from daily meetings of the leader figures in the organization, much that the other companies (Interview, Appendix 1) (BASF, 2012). One of BASF`s goals is to make rules and system more common in the different countries. The leader style in the company allows to employees to share their ideas about innovations. Every idea on issue placed by some of employees is consider, but the main decision is always taken by The Supervisory Board. In the same time, the management style is people oriented, one of the most important things for the company is to understand consumer needs, and to create values for them (Interview, Appendix 1) (BASF, 2012). BASF is company with almost 200  000 employees. Every day in Germany for BASF works 54  000 employees. They work in different departments but the responsibility for their work is taken by managers of every department. There are a lot of frameworks and guides which are coming from the central department, and which are common for every employee. The employees have to respect the rules and framework given by the main department. Rewards and warnings in the company depend from Human Resource Department. There is not something special within the company, they fallow the legal system. Every employee has a set of target which is called employee dialogue. This makes management style in the company open for ideas from employees. Employee dialogue gives opportunity to employees to talk about the goals which they are achieving in the year and to share new ideas. The incentive system in the company is connected with reward as money bonuses for well done job (Interview, Appendix 1) (BASF, 201 2). BASF Company, as company which do not produce product for the final customers, it is very important to makes products better, healthier and safer than competitors. The reason is that the end consumer never seen and could not understand that BASF Company is better than competitors, and cannot contrast them. The most important thing for the company are innovations, this is the only way that company can be unique and distinctive from competitors. The Company spending a lot of money every year to make research, which helps to find new opportunities for development. In the same time, the company makes everything possible to have products which are already developed and to make them successful on the market. The main question for BASF is to understand better than competitors what are exactly consumer`s needs and to be ready to satisfy these needs on time (Interview, Appendix 1) (BASF, 2012). The core value of BASF is to create chemistry for sustainable future. To achieve its goals BASF tries to be a company with innovative products, intelligent solution of problems and good service departments. The company strives to be the world most widespread supplier in the chemical industry and to generate high return of its assets. It wants to reach these intentions without harming the environment and nature (Interview, Appendix 1) (BASF, 2012). 6.2 Interconnection of the seven S To start, for BASF like as world`s leading chemistry company is very important to strengthen its position on the market. For achieve its goal for the Company is necessary to make its products better than competition and to has high quality of its services. For this helps The Matrix organisational structure and the management style of BASF, which is people oriented oriented to understand customers needs. The company is focus on innovations and every decision for a new idea is taken by The Supervisory Board. For the company`s success is important to have good communication between the different departments and to have fixed rules. In BASF this is achieve with regular meetings of The Board of Executive Directors. The company strives to be the world most widespread supplier in the chemical industry and to generate high return of its assets. For these goals, company has to employ highly qualified staff. Moreover, the leader system of the company is focuses to encourage the employees to share their new ideas. For this, the company use so called Employee dialogue. On the other hand, the company has to invest in researches. The RD department is responsible to find new market opportunities for BASF. The main mission of BASF is to create chemicals for sustainable future. For this goal helps the good organisation structure, cooperation between departments. On the other hand, very important are employees and the way they are managed. Very important are innovations and the style of the company. All of these things determined the current situation of the company and its future position and development of the market. 7. SWOT overview First, BASF Company is one of the leading chemicals company in the world. This factor gives chance to the company, to manage the big part of the market and to have hard influence on smaller chemicals companies. Moreover, as so international and big company BASF has a lot of production sides around the world. One of the company`s strengths are production sides, so called Verbund sides. These sides have really good conglomerates of the production. This conglomeration allows, every kind of product produced within the company, to be used in the most efficient way. Different materials produced in one department of the company, can be used in another one, which means that the BASF Company produce raw materials which use in its own production. Besides, this allows to the company, to produce a lot of different materials and products, to make innovations in this sector and to create more value for the customers than competitors (YouSigma 2011). Second, BASF Company has a huge profit in the last year. Nevertheless, in the last few years is observed declining earnings in several business segments, which is one of the company`s weakness. There are several reasons about this fact. The firs reason, is one of the company threats, is the Economic slowdown in the European Union Region, which is due of the present credit crisis. The credit crisis in these days covers and influence, both small and in the same way huge companies like BASF. The other reason is that people in European Union have possibility to choose between hundred different products. Here the competition is really strong and the market in Europe is developed till maximum. One of company opportunities is to rising commodity chemicals market in regions like Africa, Asia Pacific and Middle East. These are the growth regions of the future, for almost every kind of industry, because the growth rate of profit in future in European countries would not be so high. The other o pportunity for the company is always to develop new products and new ideas (YouSigma 2011). Figure 2: SWOT analysis table Location of factor Favorable Unfavorable Internal Strengths Leading chemical company Concept of Verbund Variety of products Weaknesses Decrease earning in some countries Less expenditure for RD External Opportunities Product innovations Expand the business in Africa, Asia and Middle East Threats Laws and regulations Economic slowdown in European Union 8. Conclusion BASF is international company, which is leader in chemical market. The company production is separated in six different departments and its market is oriented in f

The Handmaids Tale by Margaret Atwood and Brave New World by Aldous Hu

The Handmaid's Tale by Margaret Atwood and Brave New World by Aldous Huxley. While there are many differences between the societies portrayed in dystopic literature, they still have the common bond of lacking the fundamental freedoms required for a properly operated society to exist. This cannot be truer for The Handmaid's Tale by Margaret Atwood and Brave New World by Aldous Huxley. These novels prove that the individual's freedom are sacrificed in dystopic societies when the government controls the knowledge, individuality and relationships of each person in order for there to be stability in the society. Dystopia is shown in each of the novels through: the use of conflict demonstrating the authority over knowledge, the use of theme to establish the lack of identity and the use of character to show the control of knowledge. It is evident in both novels that a dystopic society exists through the authors' use of conflict to illustrate the control of knowledge of the past and present in order for there to be stability. For example, in The Handmaid's Tale, all Handmaids are forbidden from reading or writing, this is an attempt by the leaders of the society to control the knowledge their citizens can utilize. This control extends over any form of written word, and if the rules are disobeyed, there are consequences: "Scrabble!. This was once the game of old women, old men to be played in retirement villas when there was nothing good on television. Now it's forbidden, for us. Now it's dangerous. Now it's indecent . Now it's desirable" (Atwood 174). In this society, Scrabble is considered "forbidden" because of what it represents -- freedom of expression. The consequences the leaders have imposed create a c... ...ge, individuality and relationships of each person in order for there to be stability in the society. Through the use of conflict, dystopia is established in both of the novels using the control of knowledge of the past and present in the society in order for stability. In addition, through the use of theme, dystopia is established using the lack of identity of each member of the society in order for stability to be in the society. Finally, through the use of character, dystopia is established through the control of the relationships in each member of the societies. In order for there to be stability in a society there must be sacrifices made, especially in a society that is considered dystopic. Works Cited ----------- Atwood, Margaret. The Handmaid's Tale. U.S.A: Seal Books, 1986. Huxley, Aldous. Brave New World. Hammersmith, London: Flamingo, 1994.

Like Stars on Earth Essay

Every Child is Special is a Hindi films directed by Amir Khan .The story is about an 8-year-old boy named Ishaan who cannot cope with the academic demands in school. He once complained that The letters are dancing!† when he was asked to read. Teacher threw him out of the class and the students who passed by the hall mocked him for being punished. Moreover, Ishaanreversed letters when he wrote and demonstrated a poor understanding of mathematical concepts. Sometimes if he commits mistakes everybody laughs at him or will shout on him just like what his father or even his mother did. He always find ways to laugh after evrybody laugh bout what his diong. He was at the risk of repeating a grade level again because of his poor scholastic performance.Too often, he may be caught by his teacher daydreaming and getting low grades. see more:every child is special characters Ishaan began to evade homework and cutting classes because of his discouragement over his failings. Sometimes his father shouts and doing harsh against Ishaan. When his teachers advised his parents to avail of special education services, his family decided to send him to a boarding school instead in the hopes that the highly structured environment will straighten out his â€Å"behavioral problems†. But the academic status of Ishaan was not improve. Alternatively, he became withdrawn and lonely, far from the Ishaan who was active and fun-loving. Ishaan continued struggling with the same problems in his new school. When he was finally on the brink of suicide,Then came an alternative art teacher Ram Nikumbh discovered that he had dyslexia and consequently turned his life around. Ram Nikumbh change the best way Ishaan would act towards school and figure out how to appreciate himself even more, his art teacher who pay attention to Ishaan and to understand Ishaan whom his parents never finds what ishaan is. Towards the end of the school year Nikumbh organises an art fair for the staff and students. The competition is judged by artist Lalita Laimi, who portrays herself in the film. Ishaan, with his strikingly creative style, is declared the winner and Nikumbh, who paints Ishaan’s portrait, the runner-up. When Ishaan’s parents meet his teachers on the last day of school they are left speechless by the transformation they see in him. Overcome with emotion, Ishaan’s father thanks Nikumbh. As Ishaan is getting into the car to leave with his parents, he turns around and runs toward Nikumbh. The film ends with a freeze frame shot of Nikumbh tossing Ishaan into the air.

Leadership and Organizational

I. Introduction The Housing Authority was created to provide safe and sanitary housing for low income families. The position of an area clerk is to provide administrative support to the property manager and maintenance staff so that their focus would be on the development and the residents. The lack of maintenance professions motivation and effort to complete work assignments efficiently has caused issues in our developments. Public housing was established through the U.S. Housing Act of 1937 to provide decent and safe rental housing for eligible low-income families, the elderly, and persons with disabilities. Public housing comes in all sizes and types, from scattered single family houses to high-rise apartments for elderly families. There are approximately 1.3 million households living in public housing units, managed by some 3,300 HAs. The U.S. Department of Housing and Urban Development (HUD) administers Federal aid to local housing agencies (HAs) that manage the housing for low-income residents at rents they can afford. HUD furnishes technical and professional assistance in planning, developing and managing these developments. II. How can we motivate our Maintenance professionals? Maintenance professionals are not completing their assignments efficiently. They are not organized and detailed when handing in work orders. Our backlog is always over 200 days old and is causing our development to be looked at by upper-management. We are not maintaining the property as well as providing sanitary housing to our residents. III. Analysis of the Problem? The lack of management to supervise and maintain regular performance meetings with maintenance so that they will no what they are needed to complete on a daily basis. The lack of performance appraisals and updates on performance has caused maintenance to feel that their work performance was not an important role in the organization. IV. Leadership and Organization behavior Concepts We as an organization need to learn how to be effective managers and leaders. â€Å"Leadership is a process by which a person influences others to accomplish and objective and directs the organization in a way that makes it more cohesive and coherent†. (Don Clark, 2010) In order for us to recognize the differences in our organization we have to become effective team leaders. We have to recognize that having a team with a diverse group of people we gain information. Stated in our class text, â€Å"†¦Membership diversity offers a rich pool of information, talent, and varied perspectives that can improve team problem solving and increased creativity.† (John Wiley & Sons, 2008) Leading to the increase in employee productivity and the increase in employee morale. V. Solutions and Alternatives to the Problem There are three possible solutions that Jane may choose to implement in the organization. They are employee recognition programs, Incentive programs, and Weekly team meetings. We chose to use Employee recognition programs to further motivate our maintenance professionals. We will implement an employee newsletter stating the employees that are receiving recognition for efforts about the job. Also, there will be award ceremonies where employees will be given awards for the best development or most improved development. VI. Reflection An organization can only develop a group if their team of employees’ work hard. We all play a role in the organization. Everything is handled by maintenance they manage the site and now what is going on with our residents. They are ones outside dealing with everything without them we will have no source of the issues we face with our residents (crime, sub leasing, etc.) We should recognize their efforts and bring their morale up so that they could be motivated to do their job and we can work as a more cohesive team. Reference http://www.nwlink.com/~donclark/leader/leadcon.html

The eNotes Blog The Great American Teach-Off for2013!

The Great American Teach-Off for2013! Know a teacher who could use and deserves $10,000? Well, hurry, as it is almost last call for nominating an educator who shows innovation and dedication to their craft.   The $10,000 classroom grant will be awarded by GOOD Partnerships and the University of Phoenix. There will be twenty finalists selected from teachers of grades Kindergarten through Twelfth this  February 15, 2013 at noon PT.    Voting for the finalists begins March 4 and in a course of five weeks, the GOOD community will vote for their favorite teacher. At the end of the five weeks, the top voted K through 6 teacher and top voted 7 through 12 teacher will each receive a $10,000 classroom grant. What are the judge looking for? [T]eachers that are not only changing the lives of their students, but also their community. We want to hear all about the teachers that are integrating technology into the classroom, doing community outreach with their students, or pushing their students to learn and think in different ways so that they can graduate successfully and achieve beyond the classroom. For ideas and inspiration, you can watch videos of last years winners,  Terry Dougherty  and  Ã‚  Daryl Bilandzija.   Good luck to all the great candidates out there and dont forget: the deadline for applications is this Friday!

Introduction to the Economic Term Supply

Introduction to the Economic Term Supply In economics, the supply of a particular good or service is simply the quantity of the item that is produced and offered for sale. Economists refer to both individual firm supply, which is the quantity that a single firm produces and offers for sale, and market supply, which is the combined quantity that all firms in the market together produce. Supply Is Based on Profit Maximization One assumption in economics is that companies operate with the single explicit goal of maximizing profits. Therefore, the quantity of a good supplied by a firm is the amount that gives the firm the highest level of profit. The profit that a firm makes from producing a good or service depends on a number of factors, including the price that it can sell its output for, the prices of all of the inputs to production, and the efficiency of turning inputs into outputs. Since supply is the outcome of the profit maximization calculation, its hopefully not surprising that these determinants of profit are also the determinants of the quantity that a firm is willing to supply. Implicit Time Units It doesn’t really make sense to describe supply without mentioning time units. For example, if someone asked â€Å"how many computers does Dell supply?† you would need more information in order to answer the question. Is the question about computers supplied today? This week? This year? All of these time units are going to result in different quantities supplied, so it’s important to specify which one you are talking about. Unfortunately, economists are often somewhat lax about mentioning the time units explicitly, but you should remember that they are always there.

Aberlyn Capital

Executive Summary The venture leasing deal that Aberlyn proposed to RhoMed is an innovative way for RhoMed, a start-up firm, to acquire financing without diluting its equity value and raising debt in the market. Management believes that the firm is more valuable than venture capital firms would believe, and debt financing would be extremely costly since RhoMed doesn’t currently have positive cash flow. For Aberlyn, the main benefits of the transaction are the interest payments paid on the lease and potential to sell the patent for a much higher value than the original $1 Million valuation by RhoMed. However, this is a rather risky investment for Aberlyn. If RhoMed defaults on its payments, Aberlyn uses the patent as collateral and must sell it in the market. Since the patent is highly individualized and therefore may not be commercially feasible, the patent is probably worth less than what Lulu’s valuation suggests. RhoMed has limited options in terms of financing as the cost of debt and equity are both very expensive for start-up firms without positive cash flow. However, by going this route, they are risking losing the main driver of their business their patent. In order to value RhoMed as a whole we needed to make numerous assumptions, particularly on their future revenue streams, a huge driver for the valuation and share value, as our sensitivity analysis suggests. We believe that the revenue projections given in the case are far too optimistic. We projected our own descending annual growth rates for revenue and assumed that the firm reaches stability in 2004 and grows at the inflation rate of 3%. We estimated capex by using a constant percentage of revenue of 21% and we used our estimated capex to estimate depreciation. Based on these assumptions, the NPV for the value of the firm is about $19.5 M and with a share value of $3.45. To value the warrants we used the black-Scholes model and reached a call price of $180,915 in total or $2.63 per warrant. Alberlyn requires an implicit yield of 15-17% on firms characterized as â€Å"class 2.† To calculate the IRR for Alberlyn, we evaluated three different scenarios that could potentially occur. Case 1 assumes that RhoMed successfully makes all its payments and buys back the patent at $1 at the end of three years. This yields a 15% IRR. Case 2 assumes that RhoMed defaults on its payments and that Aberlyn then successfully sells the patent in the market in 1995. In order to find then  appropriate sale price we assumed an IRR of 15% and backed into the purchase price of $2,750,652. Case 3 assumes that RhoMed defaults on its payment and Aberlyn is unable to find a buyer in the market. This yields a negative IRR and an NPV of negative 950 M, nearly equal to the negative amount of the initial investment. Based on our analysis we think that Aberlyn should not go ahead with the venture leasing deal and that RhoMed should reconsider issuing equity instead. Costs, Benefits, and risks of the venture leasing deal to Aberlyn and RhoMed Aberlyn 1. Benefits: This is a relatively novel transaction where an intangible asset is leased. As a frontrunner, Aberlyn has first mover’s advantage allowing it to capture profits from this innovative financing approach, even in future transactions after RhoMed. Aberlyn has an incredibly qualified management team and utilizes its expertise both in the case of RhoMed and in future leasing transactions. The two main benefits are the interest payments paid on the lease and Alberyn’s higher valuation of the patent. Aberlyn is providing $1 Million in cash to RhoMed but values the patent at $5 Million. If RhoMed cannot pay the interest or the principal then Aberlyn can use the patent as collateral and sell it in the market at a premium. This means that Aberlyn should be able to recoup its investment even if things do not go according to plan. 2. Costs: Aberlyn might have to engage in costly litigation in order to defend against possible infringements on RhoMed’s patent. If other companies sense that Aberlyn is unwilling to pay the litigation fees necessary in order to defend the patent, other companies will use the technology for free, rendering the patent worthless. 3. Risks: A. Novel Transaction: Since this is a relatively novel approach, and since RhoMed does not have experience with external financing, there are multiple areas under the discretion of Aberlyn’s management, which can ultimately determine Aberlyn’s profitability. B. Low cash balance: A potential risk is that RhoMed does not have enough cash flow to cover the interest expense and principal payments. According to Exhibit 6, the cash balance in 1992 is 21,351, and the net cash flow is -37,783. Considering that the interest expense for 1993 is projected to be 27,000, the default risk should be  highly considered. C. Highly specified product: Since the patent is not commercialized and targeted towards the individual, there might not be a market at all for the patent. It could be that if RhoMed does not exercise the option to buy the patent back or defaults on its payments and Aberlyn can’t sell the patent in the market, it would essentially be stuck with the patent, an a sset that has no value. We calculated the NPV in this scenario and concluded that Aberlyn would essentially lose nearly its entire investment. D. Another potential risk that Aberlyn faces is they are only purchasing one patent, and many firms regard one patent as being far less useful than a patent that is part of a broader portfolio. The patent would be more highly valued if antibodies, proteins, and peptides had already been patented and included within the Antibody Delivery System. E. This patent may actually capture a smaller portion of the market share than Lulu believes; this is because the product is highly individualized and not commercially feasible. If it is difficult for this new technology to capture as much market share as is predicted by Lulu, then Aberlyn will have difficulty selling the patent if and when RhoMed cannot meet its payment obligations. Another reason why it may be more difficult for Aberlyn to sell the patent is that much of the patent’s value is derived from the fact that RhoMed’s scientists have a lot of expertise in the area they are researching. If another firm that didn’t have the same level of human capital necessary to realize the full value of the patent bought the patent then they might value it less. RhoMed 1. Benefits: RhoMed can continue on with its business activities while maximizing its control of equity. Without the deal, RhoMed needs to find external financing from places such as banks until its IPO likely around 1994. Since RhoMed is a new company with negative cash flow, limited resources, and limited partnerships, most external sources of financing will be costly. Further, RhoMed’s founders want to retain their equity. Since most other venture capital firms want 30% equity, Aberlyn’s offer is attractive. 2. Costs: While the costs of maintaining the patent, such as defending it, are shifted to Aberlyn, RhoMed still bears additional leasing costs, which are similar to a loan and include both principal and leasing  interest payments. Although this is a significant cost, this cost is much lower than what the cost of traditional debt financing would be for RhoMed. 3. Risks: RhoMed faces quite a few risks, the main one being that they could lose their patents or what they deem proprietary technology. If RhoMed defaults on either the interest payments or the principal, then Aberlyn keeps the patent. If Aberlyn sells the patent in the market, RhoMed will lose its competitive advantage. Overall, RhoMed is putting the highest value of their business at a substantial risk. Nevertheless, this deal is necessary for RhoMed because of limited financing options. Lulu Peckering’s Evaluation The patents that RhoMed developed for immunotherapy of cancer treatment is a novel approach that has not been conclusively demonstrated. Therefore, there is no current market making it hard to find comparable firms and challenging to project future revenues. The best way to get a relative sense of how profitable the company can be is to try to size the market and make assumptions as to how much of the market RhoMed can capture considering the strength of the patent and the technology associated with it. There are two things to consider with Lulu Pickering’s patent evaluation. First are some of her assumptions. We agree with her valuation of the market size at $735.4 M. However, the assumption that RhoMed can capture 20% of the market seems unrealistic especially considering that if a PET machine is available, it will probably be used over other methods. This implies that splitting the market share evenly between the five options is probably not feasible. I would argue that PET will capture 40% of the market. The fact that the product is very individualized and less commercially feasible makes it even more difficult to believe that RhoMed can capture a substantial portion of the market. Therefore, we claim that they can only capture 10% of the market. Using the same method as in the case, we reach a market size of $36.8 M. Dividing that by half to account for the other risks discussed yields $18.4 M. Based on a royalty rate of 5% over the fourteen year time period of the estimate, with the assumption that this is relevant to all types of cancer, this equals $9.2 M. The discount rate is a measure of risk. Because we accounted for some of the risk associated with this product by  cutting down the size of the market, we can use the 7.3% premium above the risk free rate given in the case (13.35%) as the discount rate over 14 years: $9.2 M/(1.1335)^14 = $1.6 M. Assumptions for FCF of RhoMed and Valuation (Appendix 1) Revenues for RhoMed: We believe the revenue projections for RhoMed in Exhibit 7 are too optimistic. The revenue projections between 1993 and 1994 jump nearly 1000% and while start-ups do grow rapidly at the beginning, this seems highly optimistic. Given RhoMed is in its start-up stage, we project descending annual growth rates for revenue. We assume that the firm reaches stability in 2004 and then peg the subsequent growth rate to inflation at 3%.1 Capex: Given the condition that RhoMed is in a capital-intensive biotech industry, we calculated CAPEX as a constant proportion of revenue. We assume the ratio of CAPEX/Revenue remains constant at 21% (as in year 1992) over the following years. Depreciation: To calculate the depreciation, we use CAPEX and depreciated with a consistent 11-year life using the straight-line method. This patent has a 17 year life span and most PPE have a five year schedule. Therefore we chose an average of those two times, 11 years, as the depreciation schedule for the patent. We were then able to calculate depreciation each year using a depreciation schedule (Appendix 3). Terminal Value: For TV, we used the constant growth method, assuming a constant growth rate of 3% and discounted it back one year to yield a 2004 value of $55,642,743 (Appendix 2). Risk-free rate/discount rate: We used the risk-free rate of the 10-year U.S. Treasury bonds at 6.05%, which we think best reflects the length of the project and added a premium of 7.3% as stated in the case which yielded a 13.35% discount rate. Impact of Warrants: We took into consideration the impact of warrants. Since the warrant coverage ratio is 10%, it means 1,000,000*10%/3.45 = 29,000 warrants can be exercised. Therefore, we added this number to the current total shares outstanding. Based on these assumptions, the NPV for the value of the firm is about $19.5 M. As this is an all equity firm, this is also the firm value, dividing that by the number of shares outstanding (5,699,747) results in a share price of $3.43 (Appendix 2). Assumptions for Warrants and Valuation Sigma: We used the industry average sigma, 68% (from footnotes in Exhibit 10). Risk-free rate: We used the 5-year U.S. Treasury rate of 5.05% as a benchmark, matching the time horizon of the warrants. Valuation: We calculated the value of the warrants using the Black-Scholes model. For the inputs of the B-S model, we used the firm value of $19.5 M that we calculated above as Y, $1.45 for the exercise price, 5,699,747 for the number of shares outstanding, as provided in the case. Number of the warrants is calculated by multiplying 1,000,000 by the warrant coverage 10%, and then divided by the exercise price. Using alpha=n/(n+m), P=alpha*Y and X=(1-alpha)*n*Xw, we derive all the inputs for B-S model. Inputting those values in the model results in: P=234,317, X=98,798 and the value of the warrants or the call price = 181,501 in total or 2.63 per warrant (Appendix 4). Internal Rate of Return for Aberlyn Aberlyn is looking for a 15-17% implicit yield on patents falling into risk class â€Å"2.† We evaluated three different scenarios that could potentially occur based on the benefits, costs, and risks discussed earlier. Scenario 1: Optimistic View In this case, we assume RhoMed would successfully make all the payments and exercise the option to buy back the patent for $1 (which we ignore in our analysis since it’s so small). Amortization of the patent at the assumed book value of $1 million uses the straight-line method and is zeroed out after the sale. This yields a 15% implicit yield (appendix). Scenario 2: Optimistic Default on payments, sell patent. In this case, we assume RhoMed failed to make all the payments either interest or principal or both, loses the option to buy back the patents, and loses the patents in general. We assume RhoMed would fail to make those payments at year 3 (since they borrowed $1 M they could at least make the payment for the first couple years) and thus Aberlyn would sell the patent in the market in 1995. Using Aberlyn’s required implicit yield of 15%, as case 1, we backed out the required sale price of the patent in 1995 = 2,750,652 (appendix). Scenario 3: Pessimistic In this case, we assume that RhoMed would not be able to make payments at year 3 and that Aberlyn will not be able to sell the patent in the market. As discussed above, there could be a situation where Aberlyn cannot find a market for patent and would be left holding an asset that ultimately holds no value. In this case Alberlyn has a negative NPV of $950 M, nearly equal to the amount of the initial investment (appendix). From Aberlyn’s perspective it seems that there is little upside to pursuing this route. They are essentially acquiring an asset that could be replicated by other firms and that is highly individualized, highly narrowing the market. As the sensitivity analysis shows, RhoMed’s valuation and share price are very sensitive to revenue streams (appendix). Even if RhoMed does make the payments, the revenue projections might be off and considered the difficulty in commercializing an individualized product, it seems even less likely that their revenue projections will be realized. While a $1M investment is not large, they could face the possibility of losing nearly entire amount as scenario three indicates. While RhoMed has limited options, this is also a risky approach for them because they are gambling the main driver of their company the patent. While the founders don’t want to dilute equity value, they might want to reconsider traditional equity financing. While this is an innovative approach to venture capital, we think it is risky for both parties involved and we would recommend that they reconsider. Appendix 1 – FCF_Assumptions Appendix 2 – RhoMed FCF, Share Price, Depreciation Schedule Appendix 3 – Depreciation Schedule Appendix 4 – Warrant Valuation Appendix 5 – IRR Calculation

Case Study - Organisational Development Example | Topics and Well Written Essays - 2000 words

- Organisational Development - Case Study Example Notably, such poor leadership skills portrayed in poor organizational communication usually lead to increased conflict thereby leading to poor production. Therefore, this case aims at addressing vital interventions and the modes they can be applied towards achieving their intended applications towards correcting the current lame organizational leadership systems. To manage systematic changes in an organization, often organization development interventions prove useful. The Chris Argyris’ Ladder of Inference is the first intervention used to solve the problems of VRD (Argyris, 1985; Pg. 37). The Ladder of inference illustrates that to reach to a conclusion or draw inference it is necessary for follow the steps in the ladder that includes observing the available data, selecting the relevant data, affixing meaning to the data, making assumptions, developing belief and drawing conclusion and finally taking action based on the belief. In this applications, the inference to be applied in working the conclusions to the underlying organization problems include opinions, beliefs, and or conclusion drawn from gathering data that are based on cultural or personal experiences. The same data must be supported data based on the premises that the same data is true. In VRD, the implication of the Ladder of Inference can be explained base on the available data or evidence that shows that the organization lack strong leadership and employees are not ready to quit the status quo or to accept organizational changes. Notably, both the employees and the management are unable to understand the need of a radical change among other factors such as ineffective communication, lack of innovation, and change in the VRD’s organizational management. Other data sets that can be drawn in case for managerial management adjustments include the inadequate organizational communication that leads to poor production and

Do corporate social responsibility (CSR) reports provide shareholders Essay - 1

Do corporate social responsibility (CSR) reports provide shareholders and stakeholders with useful information on corporate soci - Essay Example Emphasizing on the corporate social responsibility has become a core part of the public policies for development of private sectors within the framework of the international cooperation development. It is considered a deliberate choice for an enterprise to give back to the community and to respond the environment crises while maintaining relations with the shareholders and stakeholders based on dialogue and transparency (Godfrey, Merrill & Hansen 2009). A CSR report, therefore, consists of all activities that the company has taken part. This includes the whole of their chain of value and it considers the effects on ecological, economic, and social parameters in dialogue with the shareholders and stakeholders. The report conveys the following information to the public and to the stakeholders: consumer interest, environmental care, air operating practices such as corruption and bribery, involvement to the community and firm’s governance. A company will therefore, use the report to reach to its consumers, shareholders, and stakeholders. Corporate managers and leaders have taken the initiative to call upon the government, as a stakeholder, to recognize their CSR participation and achievements. The companies can only achieve that by creating a CSR report that communicates to the society on its CSR activities. The government has gone ahead to encourage, support and to enforce Corporate Social Responsibility behavior of firms (Turker 2009). This has therefore resulted to multiple rationales, such as deregulation and competitiveness in companies by including their CSR reports in their annual reports. However, the legal standards and frameworks have been put in place in order to ensure the companies include the appropriate information. This is because some of the stakeholders and shareholders are non-profit agencies which require in knowing the benefit of the company to the community before investing in it. The government also requires knowing how the company res ponds to environmental issues such as pollution and global warming. It is important to note that most stakeholders including investors, community, markets, NGOs and the government need to know the role of a company to the society and their role in ensuring the environment is maintained. For instance, the mentioned groups expect organizations to put efforts in fighting global warming and feeding the poor. It is humble call for a company to do that, but it has a great effect to the consumers and to the investors. Consumers want to be associated with a company that understand their needs and which cares for their future. As well, investor will invest in a company that has responsible management and that which takes part in CSR activities. Background information Since the early years of 1990, an increase in the environmental awareness and development of sustainable economic growth redirected firms into environmental sensitivity. The recent economic events have resulted to a greater emph asis on the Corporate Social Responsibility in redefining the future of the society. Whereas companies and business organizations are responsible of creating wealth for the shareholders and driving company’ progress, they are directed and guided by regulations and governments, green consumer pressure and society pressure groups (Henriques & Sadorsky1999). A balance between needs of the society and economic growth attracts

What is the proper role for public schools in the promotion of Essay

What is the proper role for public schools in the promotion of democracy - Essay Example Apart from this, there are characteristics of a democratic society which public schools have to assist the public in developing and maintaining. Such are the ability to accommodate and resolve disagreements, accommodation of people with different beliefs and views, and respect for others with differing opinions. Because of these characteristics, a society only maintains such a state if the citizens are able to deal with disagreements and resolve them, respect people with differing views and understand a society composed of different people, with different perceptions about various things in life. Education promotes all these characteristics through provision of knowledge and wisdom: To deal with the disagreements and resolve the; to understand how to treat people with different beliefs and views; to understand the consequences of empathy and flexibility in dealing with other perspectives, and to respect for others with differing positions. The proper role of public schools is through provision of knowledge and wisdom. With these two, the individuals will be able to understand the meaning of civil rights and liberties in the society. The civil rights and liberties define a democratic society. Democracy: From our group discussion, there are common characteristics to what members thought about democracy; freedom, equality, and protection of people’s rights. Democracy is a state in a society where everyone has a right to his or her social and political views, has equal rights to the management of the society. It is a state, in which everyone can present a voice, and everyone is allowed to participate in political, social and economic activities of the society (Discussion Group Dialogue). All the group members agreed that the primary good of public education is public. The reasons given for this argument is that public education provides an equal opportunity for everyone

Clincial Psychology Essay Example | Topics and Well Written Essays - 1750 words

Clincial Psychology - Essay Example In these changing and challenging situation psychologists have to develop their skills all the time. Clinical psychology is related to identifying and treating the problems/conflicts which people face. These conflicts may involve, emotional thinking, learning as well as social and sexual problems. The person practicing in the area of providing diagnostic, therapeutic and counseling services to an individual, a family, or a group is called clinical psychologists. In general, the psychologist associated with the word clinical helps people to achieve changes in life style and habit to correct health problems. Now being a professional associated with and committed to increase the scientific and professional knowledge of people's behavior to improve the condition of individuals & organization, they have to protect lots of information's about their clients. Now confidentiality is the key area, where psychologists, has to take care of. They have to take certain steps to prevent misuse of client data related to various tests and other relevant information's into the public domain. But bein g a professional not only providing therapeutic role they have to perform the duties of researcher educator, diagnostician, supervisor, consultant, administrator, social interventionist expert witness and may more. In providing may more services and exciting various roles often do the job professionally some ethical standards has to be formulated which can provide them the common set of principles and standards upon which psychologists build their professional and scientific work. To fulfill these requirements, American Psychological Association (APA) has formulated the Ethics code in 2002. It has been divided under ten major categories which are like some common issues like psychologists must take reasonable steps to minimize the misuse or misrepresentation; psychologists must adhere to ethical commitment first in case of conflict with law or regulations and try to resolve the conflict between law or rules governing legal authority with ethics; psychologist must stick to their ethi cs code in case of conflict between ethics and organizational demand or interest and to the extent feasible, resolve the conflict in a way that permits adherence to ethics code, psychologists must have the responsibility to resolve ethical violence and report these kind of violations to state or national committees on professional ethics or state licensing boards or appropriate institutional authorities and wherever possible cooperate in ethics investigations, proceedings and resulting requirements of the APA or any affiliated state psychological associations to which they belongs psychologists do not file or encourage any malaise or willful complaints but do not deny persons employment, advancement and admissions to academic or other programs, tenure or promotion, based solely upon their being subject of an ethics complaint. For clinical psychologists another area which is relevant and addressed for ethical standards is the competence. Psychologist must provide services, conduct re searches & teach within their areas of competencies. They must have adequate professional knowledge and understanding of the factors associated with age,

Do you think the US is currently doing all that it should to reduce Essay

Do you think the US is currently doing all that it should to reduce global warming - Essay Example Voluntary measures, as it is obvious to think, won't be as effective as mandatory measures since many companies involved are worried about the short-term benifits that they are getting in the present system of traditional energy production and consumption. For example, the use of alternatives sources of energy like solar energy should be enforced as a mandatory measure to be implemented as soon as possible. According to Monga Bay (2006), the United States is acting unethically on global warming. A recent report from June 16, 2009, given by the US Global Change Research Program provides the next key findings about global warming: "The latest climate science tells us that the United States and the world must break its dependence on fossil fuels and transition rapidly to 100 percent clean, renewable energy if we hope to avoid the most catastrophic effects of global warming" (Environment California, 2008). These are the strong mandatory measures that the United States have to enforce in order to solve the global warming issue.

What is the proper role for public schools in the promotion of Essay

What is the proper role for public schools in the promotion of democracy - Essay Example Apart from this, there are characteristics of a democratic society which public schools have to assist the public in developing and maintaining. Such are the ability to accommodate and resolve disagreements, accommodation of people with different beliefs and views, and respect for others with differing opinions. Because of these characteristics, a society only maintains such a state if the citizens are able to deal with disagreements and resolve them, respect people with differing views and understand a society composed of different people, with different perceptions about various things in life. Education promotes all these characteristics through provision of knowledge and wisdom: To deal with the disagreements and resolve the; to understand how to treat people with different beliefs and views; to understand the consequences of empathy and flexibility in dealing with other perspectives, and to respect for others with differing positions. The proper role of public schools is through provision of knowledge and wisdom. With these two, the individuals will be able to understand the meaning of civil rights and liberties in the society. The civil rights and liberties define a democratic society. Democracy: From our group discussion, there are common characteristics to what members thought about democracy; freedom, equality, and protection of people’s rights. Democracy is a state in a society where everyone has a right to his or her social and political views, has equal rights to the management of the society. It is a state, in which everyone can present a voice, and everyone is allowed to participate in political, social and economic activities of the society (Discussion Group Dialogue). All the group members agreed that the primary good of public education is public. The reasons given for this argument is that public education provides an equal opportunity for everyone

Do you think the US is currently doing all that it should to reduce Essay

Do you think the US is currently doing all that it should to reduce global warming - Essay Example Voluntary measures, as it is obvious to think, won't be as effective as mandatory measures since many companies involved are worried about the short-term benifits that they are getting in the present system of traditional energy production and consumption. For example, the use of alternatives sources of energy like solar energy should be enforced as a mandatory measure to be implemented as soon as possible. According to Monga Bay (2006), the United States is acting unethically on global warming. A recent report from June 16, 2009, given by the US Global Change Research Program provides the next key findings about global warming: "The latest climate science tells us that the United States and the world must break its dependence on fossil fuels and transition rapidly to 100 percent clean, renewable energy if we hope to avoid the most catastrophic effects of global warming" (Environment California, 2008). These are the strong mandatory measures that the United States have to enforce in order to solve the global warming issue.

Mastering Mathematical Facts Essay Example for Free

Mastering Mathematical Facts Essay The basis for success in elementary mathematics is mastering basic facts which mean that a student should acquire the ability to add, subtract, multiply, and divide basic numbers automatically (O’Connell, 2009). Regardless the importance thereby attached, it is very hard to dismiss the relationship between mental computation of basic facts and the memorizing power of a student. The strategies-based approach emphasizes mostly on developing mastering skills from the natural informal knowledge that the child has (Andrew Carroll, 1999). This is better than the usual rote approach which presented such drawbacks as inducing anxiety due to demand for quick performance. Also, students had a tendency to adapt the element of memorizing facts in these rigid schedules rather than application of thoughts in solving mathematical problems. Strategies-based approach requires that the natural thinking of children is utilized whereby informal mathematical knowledge is set as basis to understand harder concepts after learning simpler facts. To help students master basic facts, the elementary step involves testing them on subtraction and addition where they are required to work out simple tests in real life situation. In the meantime, the students should be encouraged to develop patterns, think logically and use their manipulative skills in solving these exercises. It should be noted here that unlike adults who will process this information directly from their memory, children will use the direct manual counting, a technique referred to as direct-modeling technique. As their understanding gradually develop over time, some students would tend to grasp concepts at a faster rates than others where they can use even more than one strategy in solving mathematical problems. It is therefore very important to request students to share their strategies with their peers in class in order to help them advance to more efficient methods and encourage development of self-invented strategies (Steinberg, 1985). ? References Andrew, C. I. and Carroll, M. W. (1999). Teaching children mathematics, 5 (9):508(8) O’Connell, S. (2009). Mastering basic math facts. Retrieved August 09, 2010, from http://www. qualityteacherdevelopment. com/blog/25/mastering-basic-math-facts/ Steinberg, R. M. , (1985). Instruction on derived facts strategies in addition and subtraction. Journal for Research in Mathematics Education , 16: 337-55.

Nature Of Managerial Work Business Essay

Nature Of Managerial Work Business Essay The verb manage comes from the Italian maneggiare to handle especially tools, which in turn derives from the Latin manus (hand). The French word mesnagement (later mà ©nagement) influenced the development in meaning of the English word management in the 17th and 18th centuries.[1] Some definitions of management are: Organization and coordination of the activities of an enterprise in accordance with certain policies and in achievement of clearly defined objectives. Management is often included as a factor of production along with machines, materials and money. According to the management guru Peter Drucker (1909-2005), the basic task of a management is twofold: marketing and innovation. Directors and managers have the power and responsibility to make decisions to manage an enterprise when given the authority by the shareholders. As a discipline, management comprises the interlocking functions of formulating corporate policy and organizing, planning, controlling, and directing the firms resources to achieve the policys objectives. The size of management can range from one person in a small firm to hundreds or thousands of managers in multinational companies. In large firms the board of directors formulates the policy which is implemented by the chief executive officer. [edit] Theoretical scope At first, one views management functionally, such as measuring quantity, adjusting plans, meeting goals. This applies even in situations planning does not take place. From this perspective, Henri Fayol (1841-1925)[2] considers management to consist of six functions: forecasting, planning, organizing, commanding, coordinating and controlling. He was one of the most influential contributors to modern concepts of management. Another way of thinking, Mary Parker Follett (1868-1933), defined management as the art of getting things done through people. She described management as philosophy.[3] Some people, however, find this definition useful but far too narrow. The phrase management is what managers do occurs widely, suggesting the difficulty of defining management, the shifting nature of definitions and the connection of managerial practices with the existence of a managerial cadre or class. One habit of thought regards management as equivalent to business administration and thus excludes management in places outside commerce, as for example in charities and in the public sector. More realistically, however, every organization must manage its work, people, processes, technology, etc. to maximize effectiveness. Nonetheless, many people refer to university departments which teach management as business schools. Some institutions (such as the Harvard Business School) use that name while others (such as the Yale School of Management) employ the more inclusive term management. English speakers may also use the term management or the management as a collective word describing the managers of an organization, for example of a corporation. Historically this use of the term was often contrasted with the term Labor referring to those being managed. [edit] Nature of managerial work In for-profit work, management has as its primary function the satisfaction of a range of stakeholders. This typically involves making a profit (for the shareholders), creating valued products at a reasonable cost (for customers) and providing rewarding employment opportunities (for employees). In nonprofit management, add the importance of keeping the faith of donors. In most models of management/governance, shareholders vote for the board of directors, and the board then hires senior management. Some organizations have experimented with other methods (such as employee-voting models) of selecting or reviewing managers; but this occurs only very rarely. In the public sector of countries constituted as representative democracies, voters elect politicians to public office. Such politicians hire many managers and administrators, and in some countries like the United States political appointees lose their jobs on the election of a new president/governor/mayor. [edit] Historical development Difficulties arise in tracing the history of management. Some see it (by definition) as a late modern (in the sense of late modernity) conceptualization. On those terms it cannot have a pre-modern history, only harbingers (such as stewards). Others, however, detect management-like-thought back to Sumerian traders and to the builders of the pyramids of ancient Egypt. Slave-owners through the centuries faced the problems of exploiting/motivating a dependent but sometimes unenthusiastic or recalcitrant workforce, but many pre-industrial enterprises, given their small scale, did not feel compelled to face the issues of management systematically. However, innovations such as the spread of Arabic numerals (5th to 15th centuries) and the codification of double-entry book-keeping (1494) provided tools for management assessment, planning and control. Given the scale of most commercial operations and the lack of mechanized record-keeping and recording before the industrial revolution, it made sense for most owners of enterprises in those times to carry out management functions by and for themselves. But with growing size and complexity of organizations, the split between owners (individuals, industrial dynasties or groups of shareholders) and day-to-day managers (independent specialists in planning and control) gradually became more common. [edit] Early writing While management has been present for millennia, several writers have created a background of works that assisted in modern management theories.[4] [edit] Sun Tzus The Art of War Written by Chinese general Sun Tzu in the 6th century BC, The Art of War is a military strategy book that, for managerial purposes, recommends being aware of and acting on strengths and weaknesses of both a managers organization and a foes.[4] [edit] Chanakyas Arthashastra Chanakya wrote the Arthashastra around 300BC in which various strategies, techniques and management theories were written which gives an account on the management of empires, economy and family. The work is often compared to the later works of Machiavelli. [edit] Niccolà ² Machiavellis The Prince Believing that people were motivated by self-interest, Niccolà ² Machiavelli wrote The Prince in 1513 as advice for the city of Florence, Italy.[5] Machiavelli recommended that leaders use fear-but not hatred-to maintain control. [edit] Adam Smiths The Wealth of Nations Written in 1776 by Adam Smith, a Scottish moral philosopher, The Wealth of Nations aims for efficient organization of work through Specialization of labor.[5] Smith described how changes in processes could boost productivity in the manufacture of pins. While individuals could produce 200 pins per day, Smith analyzed the steps involved in manufacture and, with 10 specialists, enabled production of 48,000 pins per day.[5] [edit] 19th century Classical economists such as Adam Smith (1723-1790) and John Stuart Mill (1806-1873) provided a theoretical background to resource-allocation, production, and pricing issues. About the same time, innovators like Eli Whitney (1765-1825), James Watt (1736-1819), and Matthew Boulton (1728-1809) developed elements of technical production such as standardization, quality-control procedures, cost-accounting, interchangeability of parts, and work-planning. Many of these aspects of management existed in the pre-1861 slave-based sector of the US economy. That environment saw 4 million people, as the contemporary usages had it, managed in profitable quasi-mass production. [edit] 20th century By about 1900 one finds managers trying to place their theories on what they regarded as a thoroughly scientific basis (see scientism for perceived limitations of this belief). Examples include Henry R. Townes Science of management in the 1890s, Frederick Winslow Taylors The Principles of Scientific Management (1911), Frank and Lillian Gilbreths Applied motion study (1917), and Henry L. Gantts charts (1910s). J. Duncan wrote the first college management textbook in 1911. In 1912 Yoichi Ueno introduced Taylorism to Japan and became first management consultant of the Japanese-management style. His son Ichiro Ueno pioneered Japanese quality assurance. The first comprehensive theories of management appeared around 1920. The Harvard Business School offered the first Master of Business Administration degree (MBA) in 1921. People like Henri Fayol (1841-1925) and Alexander Church described the various branches of management and their inter-relationships. In the early 20th century, people like Ordway Tead (1891-1973), Walter Scott and J. Mooney applied the principles of psychology to management, while other writers, such as Elton Mayo (1880-1949), Mary Parker Follett (1868-1933), Chester Barnard (1886-1961), Max Weber (1864-1920), Rensis Likert (1903-1981), and Chris Argyris (1923 ) approached the phenomenon of management from a sociological perspective. Peter Drucker (1909-2005) wrote one of the earliest books on applied management: Concept of the Corporation (published in 1946). It resulted from Alfred Sloan (chairman of General Motors until 1956) commissioning a study of the organisation. Drucker went on to write 39 books, many in the same vein. H. Dodge, Ronald Fisher (1890-1962), and Thornton C. Fry introduced statistical techniques into management-studies. In the 1940s, Patrick Blackett combined these statistical theories with microeconomic theory and gave birth to the science of operations research. Operations research, sometimes known as management science (but distinct from Taylors scientific management), attempts to take a scientific approach to solving management problems, particularly in the areas of logistics and operations. Some of the more recent[update] developments include the Theory of Constraints, management by objectives, reengineering, Six Sigma and various information-technology-driven theories such as agile software development, as well as group management theories such as Cogs Ladder. As the general recognition of managers as a class solidified during the 20th century and gave perceived practitioners of the art/science of management a certain amount of prestige, so the way opened for popularised systems of management ideas to peddle their wares. In this context many management fads may have had more to do with pop psychology than with scientific theories of management. Towards the end of the 20th century, business management came to consist of six separate branches, namely: Human resource management Operations management or production management Strategic management Marketing management Financial management Information technology management responsible for management information systems [edit] 21st century In the 21st century observers find it increasingly difficult to subdivide management into functional categories in this way. More and more processes simultaneously involve several categories. Instead, one tends to think in terms of the various processes, tasks, and objects subject to management. Branches of management theory also exist relating to nonprofits and to government: such as public administration, public management, and educational management. Further, management programs related to civil-society organizations have also spawned programs in nonprofit management and social entrepreneurship. Note that many of the assumptions made by management have come under attack from business ethics viewpoints, critical management studies, and anti-corporate activism. As one consequence, workplace democracy has become both more common, and more advocated, in some places distributing all management functions among the workers, each of whom takes on a portion of the work. However, these models predate any current political issue, and may occur more naturally than does a command hierarchy. All management to some degree embraces democratic principles in that in the long term workers must give majority support to management; otherwise they leave to find other work, or go on strike. Despite the move toward workplace democracy, command-and-control organization structures remain commonplace and the de facto organization structure. Indeed, the entrenched nature of command-and-control can be seen in the way that recent layoffs have been conducted with management ranks affected far less than employees at the lower levels. In some cases, management has even rewarded itself with bonuses after laying off level workers.[6] According to leading leadership academic Manfred F.R. Kets de Vries, its almost inevitable these days that there will be some personality disorders in a senior management team.[7]

Affirmative Action and College Admissions: A Legal and Ethical Analysi

Affirmative Action and College Admissions: A Legal and Ethical Analysis I. Introduction The institution of public education has been one of the most controversial establishments in the United States since its inception. More specifically, equality in the conditions and the opportunities it provides has been sought as one of its major goals. There is little doubt that minority ethnic groups have struggled to achieve educational equality, just as they have struggled for equality in other aspects of life. One way that minorities have tried to achieve equality in education is through lobbying for help in college admissions for their respective groups. This social practice has been debated on many grounds, including necessity and ethical permissibility. The debate over the necessity of equal opportunity in education for minority groups can be traced back to the post Civil War era. The well-known debates between African-American intellectuals W.E.B. DuBois and Booker T. Washington focused on this issue. DuBois believed that the newly emancipated blacks should be slowly integrated into the culture of white America. He argued that the best way for African-Americans to further themselves in society was to embrace their differences and not try to be subjected to the same educational system as the majority population. On the other hand, Booker T. Washington believed that blacks needed to be declared completely equal to whites in every way. He wanted immediate integration into all social institutions that were available to whites, including public education. Washington believed that this was the only way that equality could ultimately be achieved was to break down the social barriers between the races immediately and ... ...w.abanet.org/publiced/focus/spr98collad.html" > Alger, Jonathan. "The Educational Value of Diversity." The American Association of University Professors. Academe, January/February 1997. < "http://www.aaup.org/publications/Academe/1997/aadivart.htm" > Curry, Tom. "Split Decision on Racial Preference." MSNBC News. June 2003. < "http://www.msnbc.com/news/929326.asp?0cv=CA01&cp1=1" > Hurdato, Sylvia et. al. Defending Diversity: Affirmative Action at the University of Michigan. University of Michigan Press. 27 February, 2004. Orfield, Gary. Kurlaender, Michal. Chilling Admissions: The Affirmative Action Crisis and the Search for Alternatives. Harvard Education Publishing Group, 2001. Orfield, Gary. Kurlaender, Michal. Diversity Challenged: Evidence on the Impact of Affirmative Action. Harvard Education Publishing Group, 2001.

Merchant of Venice Essay examples -- Merchant of Venice Essays

Mercy v. Justice – Old Testament v. New Testament While the conflict between justice and mercy plays a key role in determining the outcome of The Merchant of Venice, this conflict is even more important because it provides a setting for the contrast between the rigid law and rules of the Old Testament and the concepts of mercy and forgiveness as taught by Christ in the New Testament. It is in the climactic trial scene that The Duke, hoping Shylock will excuse Antonio's penalty, asks him, â€Å"How shall thou hope for mercy rend'ring none?† He is referring to expectations of judgment in the afterlife. However, so is Shylock, when he counters, â€Å"What judgment shall I dread doing no wrong?† This exchange perfectly presents this conflict between of the Old Testament and the New, in which the former is seen to emphasize strict obedience as mankind’s obligation to God while the latter stresses God's grace and mercy. The laws and rules of the Old Testament insisted on strict justice, â€Å"An eye for an eye, and a tooth for a tooth† (Exodus 21:23, 24; also see: Leviticus 24:19, 20; and Deuteronomy 19:21) while the New Testament calls for mercy, â€Å"Blessed are the merciful: for they shall obtain mercy† (Matthew 5:7) said Christ in the Sermon on the Mount. He later added â€Å"Ye have heard that it hath been said, ‘An eye for an eye, and a tooth for a tooth’; but I say unto you, that ye resist not evil: but whosoever shall smite thee on thy right cheek, turn to him the other also.† (Matthew 5:39). Shakespeare’s version of â€Å"An eye for and eye† is found at the end of Shylock’s great speech in the trial scene of Act IV, â€Å"If a Jew wrong a Christian, what is his humility? Revenge. If a Christian wrong a Jew, what should his sufferance be by Christian example? Why, revenge. The villainy you teach me I will execute, and it shall go hard but I will better the instruction.† His demand for vengeance is made more understandable in this famous speech as he lays open the years of pain and anger caused by the anti-Semitic treatment and abuse from the likes of Antonio and the rest of Venetian society. But, while he is more a victim than a villain, he's not blameless. What turns Shylock into a ruthless avenger is his daughter’s elopement with a Christian and her rejection of the religion of her family. It is this betrayal by his own flesh and blood that renders Shylock seemingly merciless towards ... ...s and forgiving herself. One of the great ironies of this play happens when Shylock calls Portia, "A Daniel come to judgment, yea, a Daniel!" Daniel was the Old Testament judge of Susanna, a woman accused of being unchaste by the elders. The story is pointed because Daniel rules in Susanna's favor, thus rescuing her from her fate. After freeing her, he then in turn convicts the elders. Shylock's mistake is that while he is right in calling Portia a Daniel, he fails to recognize that he is the one who represents the elders and Antonio is the rescued Susanna. In the end, Shylock is prevented from cutting a pound of Antonio’s flesh from very near the merchant’s heart, but in a sense it is the Christians who cut Shylock’s heart out of his body without shedding a drop of his blood. While the Christians preach mercy when Antonio is at risk, the Christian court is happy to opt for Old Testament vengeance itself in exacting a punishment which leaves Shylock feeling that he might as well be dead-- â€Å"Nay, take my life and all, pardon not that, You take my house, when you do take the prop / That doth sustain my house: you take my life / When you do take the means whereby I live.† Merchant of Venice Essay examples -- Merchant of Venice Essays Mercy v. Justice – Old Testament v. New Testament While the conflict between justice and mercy plays a key role in determining the outcome of The Merchant of Venice, this conflict is even more important because it provides a setting for the contrast between the rigid law and rules of the Old Testament and the concepts of mercy and forgiveness as taught by Christ in the New Testament. It is in the climactic trial scene that The Duke, hoping Shylock will excuse Antonio's penalty, asks him, â€Å"How shall thou hope for mercy rend'ring none?† He is referring to expectations of judgment in the afterlife. However, so is Shylock, when he counters, â€Å"What judgment shall I dread doing no wrong?† This exchange perfectly presents this conflict between of the Old Testament and the New, in which the former is seen to emphasize strict obedience as mankind’s obligation to God while the latter stresses God's grace and mercy. The laws and rules of the Old Testament insisted on strict justice, â€Å"An eye for an eye, and a tooth for a tooth† (Exodus 21:23, 24; also see: Leviticus 24:19, 20; and Deuteronomy 19:21) while the New Testament calls for mercy, â€Å"Blessed are the merciful: for they shall obtain mercy† (Matthew 5:7) said Christ in the Sermon on the Mount. He later added â€Å"Ye have heard that it hath been said, ‘An eye for an eye, and a tooth for a tooth’; but I say unto you, that ye resist not evil: but whosoever shall smite thee on thy right cheek, turn to him the other also.† (Matthew 5:39). Shakespeare’s version of â€Å"An eye for and eye† is found at the end of Shylock’s great speech in the trial scene of Act IV, â€Å"If a Jew wrong a Christian, what is his humility? Revenge. If a Christian wrong a Jew, what should his sufferance be by Christian example? Why, revenge. The villainy you teach me I will execute, and it shall go hard but I will better the instruction.† His demand for vengeance is made more understandable in this famous speech as he lays open the years of pain and anger caused by the anti-Semitic treatment and abuse from the likes of Antonio and the rest of Venetian society. But, while he is more a victim than a villain, he's not blameless. What turns Shylock into a ruthless avenger is his daughter’s elopement with a Christian and her rejection of the religion of her family. It is this betrayal by his own flesh and blood that renders Shylock seemingly merciless towards ... ...s and forgiving herself. One of the great ironies of this play happens when Shylock calls Portia, "A Daniel come to judgment, yea, a Daniel!" Daniel was the Old Testament judge of Susanna, a woman accused of being unchaste by the elders. The story is pointed because Daniel rules in Susanna's favor, thus rescuing her from her fate. After freeing her, he then in turn convicts the elders. Shylock's mistake is that while he is right in calling Portia a Daniel, he fails to recognize that he is the one who represents the elders and Antonio is the rescued Susanna. In the end, Shylock is prevented from cutting a pound of Antonio’s flesh from very near the merchant’s heart, but in a sense it is the Christians who cut Shylock’s heart out of his body without shedding a drop of his blood. While the Christians preach mercy when Antonio is at risk, the Christian court is happy to opt for Old Testament vengeance itself in exacting a punishment which leaves Shylock feeling that he might as well be dead-- â€Å"Nay, take my life and all, pardon not that, You take my house, when you do take the prop / That doth sustain my house: you take my life / When you do take the means whereby I live.†