Root Causes of Financial Crisis in the 1990s

Introduction The objective of this paper is to discuss the root causes of financial crisis in the 1990s. In this light, the paper has identified financial liberalisations that occurred in the late 1980s as a principal cause of crisis in the 1990s. The paper begins by presenting a discussion of financial liberalisation in section 2 below and then focuses on how it resulted in financial crisis in the 1990s. The paper employs the East Asian Financial Crisis as a case study and provides a discussion of how financial liberalisation contributed to the crisis 1997/1998 in section 2; while section 3 provides general conclusions and recommendations of the paper. Financial Liberalisation and the East Asian Financial Crisis One of the main causes of financial crisis in the 1990s was financial liberalisation which facilitated the flow of capital across borders. In the late 1980s and early 1990s, most developed and developing economies liberalised their financial systems and removed a number of regulations regarding the movement of funds. In particular many countries eliminated restrictions on foreign exchange movement thus increasing the flow of cross-border capital. One major crisis that occurred during the 1990s was the Asian Financial Crisis. This crisis has been linked directly to an increase in cross-border capital flows which resulted to currency crisis across the East Asian Countries that were involved in the crisis. Most of the countries involved in the crisis witnessed depreciation in their currencies which in turn led to major crisis across all the countries involved. Thailand was facing competition for its exports which led to a decline in its export sales. One of the reasons for Thailand†™s export declines was as a result of the devaluation of the Chinese Yuan in 1994 (Pathan et al., 2008). Rising export competition Thailand forced many businesses to shift from manufacturing to the real estate. Banks began providing loans to home buyers to facilitate real estate investments. A banking facility – The Bangkok International Banking Facility (BIBF) offered funds to both local and foreign borrowers thus facilitating their real estate investments (Pathan et al., 2008; Bisgnano, 1999). In the early 1990s, the East Asian countries were witnessing significant economic growth. As a result, these economies maintained huge current account deficits (Bird and Rajan, 2000). As a result, large inflows of capital and a depreciation of international reserves were required to reduce finance the deficits (Bird and Rajan, 2000). During This period, many East Asian economies also made significant efforts to liberalise their domestic financial systems as well as the capital account balance of payments. The establishment of the BIBF in Bankgok is a typical example of how domestic liberalisation facilitated the attraction of foreign capital. It enabled domestic banks to accept foreign-currency-denominated loans and deposits from foreign investors. These loans were later used to offer loans to the domestic market. This process led many local firms to increase their leverage thus increasing their financial risk. Net capital inflows for all countries in the region were positive and most often than not exceeded the current account deposit. In addition, international reserves were significantly high (The World Bank, 2000). Capital inflows were significantly high in Malaysia and Thailand. These countries were classified among the top ten emerging market economies to received net private capital flows during the period under study (Lopez-Mejia, 1999). A significant portion of the loans were made in foreign currency. This strategy increased the gearing of many foreign and local borrowers. The huge influx of capital combined with high current account and trade deficits in the first half of the 1990s resulted in the massive decline in the value of the currencies of the region, which eventually transformed into the financial and economic crisis of 1997 and 1998. Moreover, most of the countries involved in the crisis were operating a semi-pegged exchange rate regime, which also contributed to the currency crisis. Significant movements in the Thai Bhat meant that the currency could no longer sustain its value. the currency was forced to crash in 1997. On the 2nd of July 1997, the Thai Bhat was allowed to float freely and its value fell tremendously against other currencies (Joosten, 2004; Pathan et al., 2008). Despite the introduction of foreign exchange controls as well as large spot and forward interventions by the government and Central bank, the magnitude of the disaster on the currency was so high that these measures could not stop it. As a result, the devaluation of the Thai Bhat on the 2nd of July 1997 marked the onset of the East Asian Financial Crisis (Joosten, 2004; Li and Kwok, 2008). The currency crisis in Thailand was transmitted to five other East Asian economies. As explained earlier, the main cause of the crisis was the liberalization of the financial system which led to large cross border movements in foreign currency. The large movement in the East Asian currencies led to the ir depreciation which eventually led to the crisis. Singapore has often tried to compare itself to London as a major financial Centre. Consequently, U.S financial institutions often used it as a safe haven for depositing toxic assets. Given the liberalised nature of global financial markets, Singapore attracted a lot of toxic assets from the U.S which also helped in fuelling the crisis in Singapore (Lim and Maru, 2010). In Indonesia, the channel taken by the crisis was somewhat different from those of other countries like Korea and Thailand (Joosten, 2004). The Central Bank (Bank of Indonesia) increasing became concerned about an economy that was operating above full employment and decided to take measures that would slow down the economy to ensure that it return to full employment. The Central bank however, lacked the tools required to reduce aggregate demand. This is because it became concerned that if interest rates were increased, more foreign capital would flow into the economy a situation that would result to a currency crisis. Lack of an appropriate monetary policy tool meant that the Central Bank was unable to prevent an imminent crisis. Like Indonesia, Malaysia’s economy was operating beyond full employment. During the year 1995, the country witnessed an increase in public investment. The money was spent mainly on large infrastructure projects (Joosten, 2004). By the end of 1996, the count, Malaysia witnessed a decline in its current account deficit and the concerns over capacity overutilization were reduced. However, given increasing concerns over the ability of other East Asian countries as good investment environments, investors began to perceive Malaysia as a safe haven. Consequently, the country witnessed a huge influx of foreign capital which resulted in an increase in bank lending that in turn fuelled an asset boom. The influx in capital led to an increase in the country’s current account deficit over the period 1992-1995 as wel as declining exports. Huge current account deficits combined with trade deficits, the local currency could no longer sustain its value. This means that Malaysia could n ot escape the crisis either. The Philipines also had a sound economy when compared to other East Asian economies. The country operated at low levels of foreign debt and showed no immediate risk of a crisis. However, an influx in foreign capital soon fuelled a rapid lending boom that was mainly used in the financing of risky investments and as such the country began facing difficulties (Joosten, 2004). Table 1: Current Account (% of GDP). YearIndonesiaMalaysiaPhilippinesRepublic of KoreaThailand 1992-2.0-3.7-1.6-1.3-5.5 1993-1.3-4.6-5.50.3-4.9 1994-1.6-7.6-4.6-1.0-5.4 1995-3.2-9.8-4.4-1.7-7.9 1996-3.4-4.4-4.8-4.4-7.9 Source: (Joosten, 2004). Table 1 above illustrates the current account as a percentage of GDP for the East Asian Economies that were involved in the crisis over the period 1992 to 1995. It can be observed that all five countries exhibited a negative current account indicating that they operated current account deficits throughout the five year period leading up to the crisis. Korea however had a positive figure of 0.3% in the year 1993. Thailand showed the worst economic performance as evidenced by its largest current account deficit which kept widening with time. Conclusions and Recommendations The objective of this paper was to identify the root causes of financial crisis in the 1990s. Using the East Asian Financial Crisis as a case study, the paper concludes that one of the major causes of financial crisis in the 1990s was financial liberalization. Financial liberalization facilitated the movement of capital across borders. The East Asian Economies liberalized their financial systems thereby allowing a huge influx of foreign capital. Given that most of these countries suffered trade deficits, the capital was spent mainly on infrastructural development which means that enough returns could not be realized to cover the current account deficits. As such the current account deficits had to be financed with international reserves. This resulted in a currency crisis across the region which eventually led to the financial crisis in 1997 and 1998. One of the main lessens that can be learnt from this crisis is that countries with huge current account deficits should not attract fo reign capital if they are also operating trade deficits. This is because most of the foreign capital is used to finance unprofitable projects that cannot generate enough cash flows to offset the current account deficit. This increases the financial risks of both the private and public sector, which eventually result in a financial crisis. References Bird, G. and Rajan, R. S. (2000) â€Å"BANKS, FINANCIAL LIBERALISATION AND FINANCIAL CRISES IN EMERGING MARKETS†, available online at: http://www.freewebs.com/rrajan01/liberalfull.pdf , accessed: [8th January, 2012]. Bisgnano J. (1999). Precarious Credit Equilibria: Reflections On The Asian Financial Crisis. BANK FOR INTERNATIONAL SETTLEMENTS Monetary and Economic Department Basle, Switzerland Working Papers. Joosten W. (2004). The Asian Financial Crisis in Retrospect. What HappenedWhat Can we concludeCPB Memorandum. CPB Netherlands Bureau for Economic Policy Analysis. Li, K., Kwok m. (2008). Output volatility of five crisis-affected East Asia economies Japan and the World Economy, In Press, Corrected Proof, Available online 24 April 2008. Lopez-Mejia, A. (1999), â€Å"Large Capital Flows: A Survey of the Causes, Consequences, and Policy Responses†, Working Paper 99/17, IMF. Mahui, M. N., Maru, J. (2010), â€Å"Financial Liberalisation and the Impact of the Financial Crisis on Singapore†, Third World Network 131 Jalan Macalister, 10400 Penang, Malaysia. Pathan, S., Skully, M. & Wickramanayake, J. (2008) Reforms in Thai bank governance: the aftermath of the Asian financial crisis, International Review of Financial Analysis, 17 (2), 345-362. World Bank (2000), East Asia: Recovery and Beyond, New York: Oxford University Press.

Inventory System Essay

With our fast-paced developing society, many of our institutions optimize to perform their procedures in a computerized manner. They consider this as a great reliable process to lean on. They believe that this method will help them catch-up with this quick changing situations that they encounter each day. However, it is hard to imagine that many of us still stick to the manual method knowing that computerized system is just there waiting for them to take advantage of. There are several reasons that are forcing them to be stuck with to this traditional system. One of these is illiteracy; no one in this world is unable to understand and adapt to the computerized system if it will be properly introduced and taught. Another one is being doubtful with the system; they believe that manual system can perform less error than an automated system. But as the years goes by, a number of certain works have grown indicating that the manual method is not practical and efficient anymore. Nowadays, people have become more conscious with their time and they find essential ways on how they can do such work in less time or how they can do their number of works at the same time. This study is aimed at developing a computerized system for a barangay that still practices a traditional way of creating a Barangay Clearance and management of database. We will do this by incorporating the technology of using camera and stylus pen for creating a Barangay Clearance. We will also use the computer to properly manage their files. By using our system, their barangay employees can have fast, more practical and efficient way of doing their tasks. This chapter will provide an overview of the study, present general and specific objectives, state the scope and limitations, and give its significance. Background of the Study Barangay Molino VI was formed by Governor Juanito Remulla, it was then only the Soldiers Hills IV Subdivision, which was comprised of four (4) phases. The first appointed Barangay Chairman was Mr. Reu Lucio Samaco. He was appointed by then Governor Juanito Remulla. The first Sangguniang Barangay Officials were the Homeowners Association Officers of the four phases of the Subdivision. The legality of the appointment of Mr. Reu Lucio Samaco was questionable at that time, since he was in active service in the military consequently; Mayor Victor Miranda then appointed Mr. Tarsicio Dalman and assumed the office of the Barangay Chairman. After two years of assuming as interim Barangay Official, a Barangay Election was held in 1994. Thus, Mr. Tarsicio Dalman ran for the position of a Barangay Chairman and won. Together with his Barangay Kagawad officials who also won were Antero Anero, Wilfredo Arjinal, Mario Cruz, Joey Eslao, Jose Virrey, Remedios Prospero and Amante Isla. They were the first elected Sangguniang Barangay Council. The first elected Sangguniang Kabataan Chairman was Amil Rasuman and the Appointed Secretary was Gloria Galve and likewise the Barangay Treasurer was Evelyn Soriano. In 1997, another Barangay Election was held, another victory again for Mr. Tarsicio Dalman as Barangay Chairman. He served the Barangay Molino VI until his untimely death December in 2000. The first elected Kagawad then assumed the Barangay Chairmanship was Ms. Remedios Prospero. It was in the term of Kapitana Remy, as she was fondly called by her constituents that Barangay Molino VI ballooned in terms of population, housing, and small business. As of now, Barangay Molino VI is composed of four Subdivisions: the Soldiers Hills IV Subdivision which comprises of four phases, BF el Grande Homes II, BF Topman Homes II, and Woodwinds Village with a total population of 17,000. We have also identified depressed areas which are located around the perimeter of the subdivision, named as Maralit Compound, ARC Compound, the Creekside, Manggahan Alonzo Area, the Block 16 Hicban Area and Block 12 Barracks. The dominant religion in this barangay is the Roman Catholic which is about fifty percent, the Iglesia Ni Cristo about 25 percent and the remaining percentage is divided among the Protestants, Jehovah Witnesses, and Islam respectively. The researcher of this study proposed a system named Design and Development of a Computerized Barangay Clearance with Information System for Barangay Molino VI that will help the barangay constituents. To properly manage their files in a computerized manner create a process of Barangay Clearance done in a more efficient way. This system will be helpful for the maintaining, searching, and storing of records of those residents that have past incident reports. This will help barangay employees to do their work in a faster and more reliable process. Theoretical Framework As Carlos Richard A. Bawalan, Edgar C. Miguel, Ma. Carmela M. Reyes and John Frederick Sia Sy stated in their study entitled â€Å"Faculty Tracking Device† â€Å"Nowadays, we are dependent on computers from simple to complicated computation, from small to big business and many more. Computers are here to stay and will continue to increase its influence in the lives of many people, throughout the future. Different transactions are made easy through a computer companies which are using computers especially to their databases. Companies believe that through computerization, they save time and effort and they are sure that their work is accurate and reliable.† As new programming languages have developed, features have been added that let programmers express ideas that are more remote from simple translation into underlying hardware instructions. Because programmers are less tied to the complexity of the computer, their programs can do more computing with less effort from the programmer. â€Å"The process of preparing programs for a digital computer is especially attractive, not only because it can be economically and scientifically rewarding, but also because it can be an aesthetic experience.† -Donald Knuth However, testing by itself does not improve software quality. Test results are indicators of quality, but in and of themselves, they don’t improve it. Try to improve software quality by increasing the amount of testing; the software development techniques you use determine how many errors testing will find. If you want to improve your software, don’t test more; develop better. â€Å"A program is never less than 90% complete, and never more than 95% complete.† – Terry Baker Lastly, computerized systems are not really perfect or we can say that a perfect computerized system does not exist. We have chosen this as one of our principles because we cannot prevent criticisms from the users of our system especially those with people who are not really knowledgeable about the capabilities or limited capabilities of a computerized system. We can promise them improvement, but not absolute perfection. â€Å"If we think across so many different scenarios, the way they were typically done a few years ago and the way they will typically be done a few years from now, it will show a dramatic change†¦ We are developing software that’s in the car, in the phone, of course in the PC, the set-up box, the watch. All the places where software can run, we want to make sure that we do the best we can to make that connect up and to make it seamless.† – Bill Gates As emphasized by Bill Gates, the owner and founder of Microsoft Network, we have a need for computerization to be able to compete with other countries and demonstrate their potential when it comes to globalization. Aside from most of the possible gadgets to be automated, Mr. Gates envisions greater means in enhancing one’s chance in becoming successful. Truly, this experienced entrepreneur and Information Technology magnate has the ideologies of the best chances and ways in achieving the betterment of different business industries. â€Å"With the renewed business confidence, we intend to promote the country as the e-service hub of Asia and seize the I.T.’s potent opportunity for growth and development. The government and the private sector have developed the electronic commerce action agenda or ISP.com to achieve this objective. The ISP.com is a comprehensive strategy to develop an environment conducive for the investment in, and growth of E-commerce. The plan identifies a focus market where Filipino companies can concentrate to maximize inherent advantages of the country’s human resource† – Gloria Macapagal-Arroyo Obviously, the former President wants the Filipinos to realize that it is never too late to discover and learn the possible advantages that we can gain from adopting Information Technology (I.T.) for various businesses. To be sure, great innovation can take place if the country will just communicate and seek the assistance of people who are knowledgeable when it comes to enhancing I.T possibilities. Definitely, our country needs to wake up and see the great possibilities I.T. can bring, once it is being employed.

Carl Robins- Case Study

Introduction The case study of Carl Robbins reveals a company and an employee who is unprepared to welcome properly, new employees into the company environment in an effective and meaningful way. Chris Traynor, a board-certified SPHR (Senior professional of human resources) relates it this way, â€Å"A botched orientation is almost always a top-down problem, regardless of who might have the everyday responsibility of training the new hire. It is a mystery when you consider what is already known about the true value of good employees and just how difficult and costly it can be to attract them to your business (2008). The orientation of new employees is critical to their early performance and the retention of the new employees over the long term. Orientation should involve HR, training, and the supervisors of the new employees in an organized manner in order that the transition into the new role or department will be graceful, but impactful (Giacalone, 2009). Preparation was missing b efore Carl Robbin became a recruiter for ABC, Inc. Background Key Problems Find new location for orientation Complete all missing transcripts and incomplete applications Mandatory drug screen must be scheduled Complete orientation manual with only 17 days left Table 1. Details of orientation to be prepared (University of Phoenix, 2009) New location New employee’s missing documents Mandatory Drug Screen Orientation Manual Alternative and proposed solutions New Location Call a local hotel where he can meeting to conduct his new employee orientation. Reserve the room that Joe booked either in the am or pm after the computer training class. Find a new facility where they can conduct a meeting. Call a local restaurant where he can reserve a room to continue the new class orientation. Complete missing transcripts and incomplete applications Carl should begin by contacting each individual as necessary and work on each one to make sure that the mandatory drug test is completed by June 15th. Consolidate a list of the individuals that are still missing information and submit the information to Mrs. Carrol to assure her that this is going to be completed as promised. Schedule a time where they can come in and fill out the missing paperwork. Start sending out an email to every student who needs to have this completed by June 15th. Make sure that the new employees submit the missing transcripts before June 10th Drug screen appointments Contact the Human Resource department where they can begin scheduling appointments for the new employees to get have this resolved. Schedule a conference call where he can explain the importance of the matter. Inform all new employees that if this is not resolve before June 15th, then they cannot attend the class and it will delay their start date with the company. Incomplete orientation manuals Over the past years, this is not something new that Carl is facing and he needs to take action immediately and address it to the right personnel. A company as big as ABC, Inc. might have old manuals that he can use, but he will need to contact the main office to request these materials. Below are some of the solutions to this problem. Call the office to have this ordered or reprinted Begin by getting a copy of it and make enough copies for everyone. Once he gets a hold of a legit copy he needs to save if to his file for future reference. Review all material and make any necessary changes if needed. Conclusion The concern that Carl Robbin has implied in the scenario needs to be replaced by action and planning. The facts remain that the time is short. Promises have been made to facilitate the orientation in a certain time frame. Completion of the project is necessary to fulfill the goals set by the supervisor and as personally set by Robbins. This project can be completed on time and with an acceptable level of quality. Whereas some additional expense may be incurred if a conference room must be rented, it is likely a minor expense when the cost of recruiting is considered. The additional stress and poor pre-planning will be a learning experience. ABC, Inc. and Robbin will be better prepared in the case of another recruiting drive after the experience considered in this scenario. References: _http://www. criticalthinking. org_ http://find. galegroup. com/itx/start. do? prodId=ITOF. University of Phoenix. (2009). Case study for student analysis . Retrieved from University of Phoenix, COM215 Essentials of College Writing website.

Opening business Essay Example | Topics and Well Written Essays - 500 words

Opening business - Essay Example For example, Microsoft claims its MSN Hotmail (free of cost email service) as a global product. A global product or service can indeed be marketed as it is claimed by every major producer of global products. For example, Google markets its search engine in various countries with respect to the local social and cultural issues. Another example of car manufacturing and producing giant Toyota, who market their global products (such as Toyota Corolla) which are meant to be for the use in various regions of the world by different types of end-users with different specifications and different levels of customizations. However, this also is a very controversial claim. A true global product is the one which is produced with a same version for multiple regions of the world. For example, Michael Jackson's earth song is a global product, since it is meant to be for individuals belonging to different regions, ethnicities, social and cultural backgrounds. It is not like that a different earth song is made for people in India and there is a different version of earth song for people in Euro pe. Customer Relations Management (CRM) is the implementation of process of moving towards long-term, cost-effective, mutually beneficial trust with selected customers while maintaining interactive relationship2.

Course work-essay Essay Example | Topics and Well Written Essays - 750 words - 1

Course work- - Essay Example The stability of the global market destabilised to an extent that the economy of the rest of the world, including Thailand, Indonesia, Philippines and South Korea went into economic meltdown. This was so severe that it called for the intervention of the humanitarian groups, like Jubilee 2000, who advocated for the cancellation of the debts owed by the poorest countries. The Central bank decided to chip in and try to resolve the situation therein. They worked for 24hours just to see thing go back in order. Hazel introduces John Perkins, who is an economist and the author of â€Å"Confessions of an Economic Hit Man†, to discuss the history of economic theory and his involvement in the manipulation of the financial organisations like the world bank and the International Monetary fund (IMF). Perkins says that during the past decades when ‘hot money’ was in circulation, he was actually seduced into luring the poor countries who had huge debts into further debts. This was purposed so that these countries would hold to the government policies of the United States. For instance, Indonesia became a victim when the United States loaned it billion of dollars, which was later taken by the US in the name of building for them projects back in the US. They continued paying back the loan with the huge interests until they could no more. This left Indonesia with a huge debt that they would never repay logically thus holding on to the US government. Therefore, this gave the US a ch ance to manipulate the Indonesians by fetching resources their country such as oil. Finally, Perkins confesses that whatever he was asked to do was technically politics and not assisting the poor countries to get out from their poverty. I think this was an unfair way of trying to control the entire world. The US government went overboard in trying to exercise their super-power

Heat Transfer Essay Example | Topics and Well Written Essays - 1000 words

Heat Transfer - Essay Example Distillation columns are in two categories; continuous and batch-process. The batch-process distills one batch of mixtures at a time; introduction of fresh batches only happens once the first batch is over. A continuous column feeds constantly on fresh mixture. The units deal with a continuous feed streams uninterruptedly (Nisenfeld & Seemann 1981). Distillation columns are vital in the industrial arena e.g. in distillation of crude oil. Crude oil heats to 350-400oC, and, the vapor and the liquid channeled into the distilling column. The vapor rises as it passes through the perforated plates and the liquid falls to the bottom. The hydrocarbons which are heavier condense faster and settle on the lower trays. The lighter hydrocarbons remain longer in their vapor state and later condense on the higher trays. A heat exchanger cools distillates. Distillation occurs at tremendously high temperatures. The columns use an air cooled heat exchanger for cooling. A heat exchanger is equipment built for transfer of heat from one medium to another, efficiently (Nellis & Klein, 2009). Heat exchangers find their uses in refrigeration, power plants, sewage treatment, air conditioning, and natural gas processing and petroleum refineries. The air cooled heat exchanger is a pressure vessel whose function is to cool the circulating fluid in finned tubes by forcing ambient air, by directing the heat to water or air. The radiator of a car is an example of an air cooler. The objective of using an air cooled heat exchanger is to increase the efficiency of a plant, and its environmentally friendly effect of not requiring an auxiliary supply of water and no water treatment chemicals required, compared to cooling tower counterparts. The problems of chemical and thermal pollution from cooling fluids do not exist while using the air cooled heat exchanger (Kroger, 2004). Industrial applications, which do not have a reliable water

Compare and contrast the marketing strategies of two companies Essay - 1

Compare and contrast the marketing strategies of two companies - Essay Example Nike is a major sports brand in the United States that manufactures different types of sports gears and equipment. The name is the most popular brand in terms of sports shoes and apparels. Nike has created a major loyalty base around the world, especially due to its trend setting marketing and advertising campaigns, as well as the number of sports stars it occasionally ropes in to endorse its products. The company sells its products through various retailers – both online and offline – along with the exclusive brand stores of Nike. Apart from selling sports related products the company sponsors many high profile athletes and teams in various sports. Most of the time where Starbucks Coffee formulates its marketing strategy is in the Service phase of the product life cycle. However, their marketing strategy also targets the market during the Realize phase where they produce and deliver the best coffee possible to their customers. When looking into the marketing strategy of Nike they mostly formulate their marketing strategy during the Realize phase in which they manufacture the products and try to capture the market by selling their innovation in the market (Armstrong et al., 2012). The main method that Starbucks Coffee applies to its marketing strategy is to advertise their brand through their own products like t-shirts, coffee mugs that their regular customers purchase. On the other hand the advertising methodology of Nike is exclusively through print media and sometimes through electronic or digital media as well. The early advertising of Nike was mainly focused on the new shoes that it released and the message of the advertisement showed the benefits of various shoes like basketball, tennis and running shoes. While formulating the marketing strategy Nike made effective use of television as they believe it to be the most powerful medium of information and commercial. The TV commercials of Nike make a viewer feel the necessity of the product

Discuss, with relevant examples, the different levels of income and Essay

Discuss, with relevant examples, the different levels of income and expenditure that a typical UK individual is likely to ex - Essay Example Its quality of education is high and the literacy levels are among the highest in the world. Its learning institutions, especially the universities, rank highly in global ratings. The income levels in the United Kingdom are above the global average (Cordner, Das, and Cordner, 2010, p. 76). A typical UK citizen is thus destined to experience many levels of income and expenditures due to the nation’s diverse nature. Income The average household net-adjusted disposable income on the global scale is $22,387 per year. United Kingdom’s average citizen outdoes this and has an average annual income of $26,552. This is according to the Organisation for Economic Co-operation and development (OECD) survey carried out in 2010. The UK also has an average household wealth of $59,923 according to the OECD survey. This also is above the average household wealth of $36,238 for OECD members. The debt level though was $73,039 in 2010 according to a national financial education charity cal led Credit Action. This includes all debts mortgage and credit card debt. Also, the OECD estimates that the income for the top 20 per cent of earners is $55,138 per year. This greatly contrasts with the bottom 20 per percent of earners who earn $9,556 annually. The income bracket age with the highest earnings is from thirty five to forty nine years. The lowest earning age bracket is from fifteen to nineteen years (Clark, 2007, p. 88). The professional and managerial jobs earn the highest incomes. In contrast, elementary jobs earn the least incomes across the board. Of the total working population, 7 per cent have contracts lasting six months or less. 75 per cent of the men and 65 per cent of the women have jobs in this diverse economy. With more than 70 per cent of the working age bracket employed, this is a fairly good condition compared to other nations. It means that few people are below the poverty line and the living conditions are quite luxurious. Although there exists a big g ap between the high and low income earners, access to basic needs is almost assured for all levels of income. This has ensured a relatively stable economy. Expenditure Taxation Since all governments the world over depend on taxation in funding public projects to avail social amenities to their citizens, great interest is generated by this subject (Black, 2010, p. 89). The United Kingdom, being no exception, has an elaborate taxation scheme to see to the availability of public goods among them roads, hospitals and educational facilities. The typical UK citizen has a number of taxes they pay during their lifetime. A few of the taxes are personal taxes, business taxes and sales taxes. All these taxes serve the sole purpose of contributing to the national basket. Personal taxes, among them income tax, council and inheritance taxes, are directly levied to each citizen. Income taxes to a typical United Kingdom citizen include taxes levied on salaries, bonuses, commissions and overseas all owances. The basic income rate, covering incomes from 0.00 British pounds to 35,000 British pounds, charged 20 per cent income tax (Becker, 2009, p. 45). The next higher tax bracket, covering incomes from 35,001 British pounds to 150,000 British pound

To what extent would a social and environmental audit help Coca-Cola Essay

To what extent would a social and environmental audit help Coca-Cola to answer its critics - Essay Example An independent study by Exeter University on the sludge released from Coca Cola Company reveals that the sludge that Coca Cola has been dumping on the land has traces of chemicals that are not safe for human consumption. That result invalidates any claim by Coca Cola that the waste material is not harmful to human beings. It exposes Coca Cola’s operations in India as unethical. In fact, Exeter’s research is also supported narrowly by study results from the local state laboratories who have positively confirmed the sludge indeed has chemicals. These two findings put any claim of honesty by Coca Cola about the state of its operations in India’s Kerala state as unreliable. Coca Cola cannot be trusted to give an audit of itself without attempting to sweep its ethical filth below the carpet to avoid possible repercussions. No man can be a judge in his own case (Layzer, 2011). The reliability of claims by those who oppose Coca Cola’s activities can also be assessed through the prism of facts, exaggeration and hidden interest in the matter. The study reveals that since the Coca Cola opened up in the region, locals have complained about the amount of water they can access. Since water is such a necessity in human lives, and since the complaints have been there since the company began its operations, claims about the drop in the volumes of water seem justifiable. One can say that the villagers are honest to say that the setting up of the company has affected the volumes of waters in the region. That is because water is a commodity used daily in human life and any event that affects its accessibility is easily noticed. The locals can also be justified in their claims that their livelihoods have been destroyed since the building of the plant in the region. It would appear that the huge amounts of water needed for sustainability of the lives of locals has been grossly interfered with in the aftermath of

World Literature Paper 2(B) - IB English HL Essay

World Literature Paper 2(B) - IB English HL - Essay Example The plot of the story revolves around the life stories of these two prisoners, Luis Molina, a homosexual, and Valentin Arregui, a political prisoner. Molina was guilty of some pedophilia, for having sex relations with a young boy. Valentin on the other hand was jailed and mercilessly tortured for supporting the Marxist movement. How each prisoner dealt with their fate in prison also varies in perspective. While Valentin was wary on how to change the world and win the cause their movement is fighting for, Molina found escape by narrating lines from an old favourite movie, Her Real Glory, which his prison mate identified as a Nazi Propaganda film. But Molina for her part was not mindful of the political color of the film; he fantasized on the emotional drama of the lovers in her story, mimicking selected acts of the lady lover. Not long after, a friendship bond develops between the prisoners accepting the fact that they only have each other to cling to, each the protector and helper of the other. They are trapped in prison cell where circumstances ease out the differences between their ideals and forge understanding, acceptance and emotional attachment. Later Molina got out of prison on parole while Valentin was left behind to be tortured. On the day Molina left the prison cell, he gave in to Valentin’s plea for him to call his comrades and deliver his message. The story ended with Molina’s death while carrying out favor for his prison mate, while Valentin was in the infirmary after being tortured to death. Then the prison mates joined in the surreal each still being wary of what had happened to each other. This assignment will explore the creative aspect of the plot particularly on how the Molina’s narration of the movie within the movie, the dialogues and voices affected the audience imagination. Such vivid description of the characters and acts

Interpreting and Aligning National, State, and Local Standards Research Paper

Interpreting and Aligning National, State, and Local Standards - Research Paper Example These standards were made in line with both college and work expectations and they are clear, understandable and consistent. According to CSSI (2012), these standards include rigorous content and application of knowledge through high-order skills and they are built upon strengths and lessons of current state standards. They are also evidence based and thus they are expected to contribute significantly to the improvement of quality and value of education in all the states in this country. These common core standards have several advantages that result after they have been fully implemented in the states. The common core standards help to identify all stakeholders in education and the knowledge skills that the students must acquire for them to be successful in college and career (Kendall, 2011). This is a very great advantage to the stakeholders since it can assist them in tailoring their activities towards facilitating the students to acquire these kinds of knowledge. Another advantag e is that they help in the achievement of some kind of uniformity in terms of skills and knowledge developed by students by the time they join college or work among all the states. These can enable the students to attend a college in a state different from his state of origin or even work effectively in a state different from the one in which he attended school. ... They make the experienced teachers incur some difficulties in their attempt to adjust their activities to suit a particular set of students. Another disadvantage is that they do not favor all the states equally since they can be influenced by the learning environment. This makes some content of these common core standards require some adjustments and modification to meets education requirements in a particular state. The standards that currently have the strongest influence on the education environment I work in are the common core standards for language art. These standards are concerned with the standards that need to be achieved in reading, writing, listening, speaking, and language translation (CCSSI, 2010). These standards will be having a great influence on the education environment in which I will be working. This is because they will be the ones shaping most of the activities that I will be undertaking in my effort to promote language learning among my students. One of the wa ys they will be shaping my activities is influencing the choice of activities to use in my teaching. My teaching activities will be varying depending on the learning objectives of my lesson. If the learning objectives are to promote language listening skills, then in designing my teaching activities I will be considering the common core standards for language listening knowledge. If the learning objectives are concerned with promoting speaking skills, then I will be putting into consideration the common core standards for such kind of knowledge and so on. This would make the lesson meet the required standards, enhancing its chances to help the students achieve the level of competency required. These common core standards will also be influencing the kind of teaching

Extra Credit for Reflective Essay Essay Example for Free

Extra Credit for Reflective Essay Essay My writing is nowhere near what I would consider good. I am the only one to blame. As I previously stated in other class assignments, I dropped out of high school in the middle of ninth grade. Ever since then, I never did any sort of writing, unless it was for work. Instead of working on my writing and education in general these past 6 years, I have been ignoring the fact that being educated will get me further in life and help me live more comfortably. What pushed me get back into school was the birth of my daughter as well as my interest in becoming a police officer. Aside from my horrible credit history, I knew from the start that my writing needs improvement if I even want to get through the screening process for new hires. In class, I realized how much there is to writing certain texts. Specially with essays, there was terms mentioned that I was not thought with or I just simply forgot about them. Learning grammar was of great help to me as I see grammar as my biggest weakness when it comes to writing. I specifically remember the presentation about proper usage on the apostrophe, because I was guilty on using it incorrectly with plural nouns. What I would have liked, however, is that grammar should have been taught not by the students, but by the professor. Some of the presentations seemed very important and essential to writing but they were not all clear to understand. Others had good information but it was hard for me to keep interest as the speaker read line after line of text of what seemed to be copy and paste definitions. Aside from that minor flaw, I thought the class was good overall. I just wish I had more free time so I can take  another class that supersedes this one. If I get thru the hiring process, I will have to be a good writer as police officers have to generate many accurate reports throughout their work day. Since incorrect grammar can completely change the meaning of something, I do not want it to be my weakest link when it comes to my law enforcement career. Especially since being a bad writer is correctable. Whether I take another class or buy a  book on grammar, I will attempt to improve it. Even if its a little at a time. As long as I am moving forward and not backwards, my future looks brighter than before I got back into school.

UK Cheese Market Analysis

UK Cheese Market Analysis Assignment about The Cheese and its Determining Factors on the Market Executive Summary Economy in the real world is not just a subject in the university, but the major basic of a modern day business. â€Å"The large set of inter-related economic production and consumption activities which aid in determining how scarce resources are allocated.† (Investopedia.com, 2014) The report describes the cheese market in the United Kingdom. Highlight the relationship between wine and its compliment, the cheese and how the actual market responsive to economical changes, such as demand, supply, elasticity and equilibrium. Table of Contents Introduction.4 Main Body5 1.The aspects which influencing the amount of cheese..5 2. About Elasticity and Inelastic6 3. About Equilibrium.7 4. Example for the cheese` prise changing..8 5. Recently used marketing strategy..9 Conclusion..10 Bibliography.11 Introduction This report created by the Author –Mr. Istvan Csuha– on the request of Northampton University on the behalf of its subsidiary the London School of Business and Management and their lecturers in respect Prof. Bruce Johnson to clarify the position of the cheese market in the United Kingdom, the key economic factors which influences marketers and consumers in the decision making process. Main Body The aspects which influencing the amount of cheese The aspects influencing the amount of cheese that shoppers request can be categorised four main parts (Begg, D. & Ward, D., 2007, P.26-32), such as: Costs of surrogates: relates to researches (Fitday.com. 2013). there are some options to alternate cheese, but the prices of those merchandises is higher and do not give back the same taste, as cheese, therefore only a small amount of clients will leave â€Å"the cheesy side†. Salary of the clients: an investment banker demand is completely different, then a street cleaner and one of the key motivator is what they can afford; ASDA have been closely monitored and the finding is, individuals can purchase cheese products from  £2 up to  £20, therefore cheese products widely accessible to everyone (ASDA.com. 2014). Various flavours: Every single human being different from the other, so as their tastes and conclusion of that, they required different products. Value: is the product worth the sum of money what the retailer asking for it; if the answer is yes, then highly possible the quantity demanded by a consumer is higher. About Elasticity and Inelastic The characteristics of the magnitude of cheese that manufacturers and retailers supply is strongly related to the previous part of the report, but a new economic term has to be considered, Elasticity: â€Å"Price elasticity of supply measures the relationship between change in quantity supplied and a change in price.† (Tutor2u.net. 2014). There are Inelastic is the modification in the price indicates a proportionately minor modification in the quantity required. (Begg, D. & Ward, D. 2007, P.35) Elastic is the modification in the price indicates considerable larger modification in demand. (ibid, P. 32-35) There is another very important factor what every supplier have to consider regarding the amounts need to supply and is called a well-known PESTEL analysis -macro-environmental aspects, what a supplier cannot change, only can adapt to them. Assuming there are alterations in the purchasers â€Å"tongs†: Consumer demand decreasing= retailer profit decreasing also. Overcome on that retailers has to start manufacturing products, therefore they have to enter a new segment of the market. Avoid failure Porters five forces advisable to considered, -designed to evaluate the possibilities of the company upon entering to a new market and/or segment. Assuming there are modifications in the manufacturers technology, -that is a technological factor from the mentioned PESTEL analysis-: In that occasion the retailer or the consumer only can adapt to that factor, in that case keep purchasing products, but less quantity (if the technology is not as cost-effective anymore, therefore the price of the product rising too), or find a substitute (either retailer or substitute product). Therefore price elasticity applied. About Equilibrium Equilibrium of â€Å"cheese market wise†, when the manufacturer selling the product for the price, what a retailer is demanded, or the distributor selling the merchandise for the price, what a consumer demanded. (ibid, P.76) According to worldwide known economists and authors of many books the forces that drive the market in the direction of its equilibrium are: The connection between the alteration of need and supply and prices: if the need of cheese products rising, supply has to follow, then retailers raise their prices too, therefore the equilibrium will balanced again. Need for cheeses falling, then traders have to reduce their activity, therefore prices will fall too. That is the optimal market scenario. (ibid, P.88) Example for the cheese` prise changing Assumption: a hypothetical situation, when the price of wine increases. First we have to clarify the right questions. The author of these report was that fortunate, came from the family which have long-lasting history –and himself spent over ten years as well- in the Hospitality and Catering Industry; worked from kitchen porter through sommelier assistant to night manager in various countries and several high-end catering event as well (for example: wine-waiter at the House of Parliament in Hungary), therefore to clarify and answer this questions was his table. Why wine and cheese related to each other? How the supply of wine and cheese will change? How the needs of wine and cheese will change? Will the prices of cheese change? Are the amount of cheese and wine supplied and demanded will change? The answers are the following: Many countries –especially the ones with long-lasting histories and more mature cuisine i.e.: France and the United Kingdom- use cheese, as a substitute of desserts, also another reason possibly, because the weather colder than for example Italy and Spain. Those countries, consuming mostly wine for/and throughout the meal, if their choice for the dessert is any sweet, -such as ice cream or crà ¨me bulee-, they choose a light and sweet liquor, or a dessert-wine; but when they choose cheese, then the wine has to be semi-dry, or dry light white-wine. When the price of wine increasing, in the short term the supply will be the same, until marketer realise the equilibrium turned into a disequilibrium –at this occasion the proper term is surplus, when the supply of goods greater than its demands-, and they want to balance again; therefore marketers reducing supplies. The needs of cheese and wine at the event of the price of the wine increase can be: The increase of the price will be minor, therefore only small amount of purchaser decide to discontinue consuming those products, therefore inelasticity occur. When the needs of cheese and wine reactive to the price change, then â€Å"massive† amount of purchasers decide to discontinue purchasing products= elasticity occurs. The price of the cheese can be reactive to the wine price (elastic), or non-reactive (inelastic). When: The quantity of demand reactive to the price change: yes= elasticity; The amount of need non-reactive: no= inelasticity; Marketers want to balance the equilibrium, yes, when the demand decreases, the quantity of supply has to follow, therefore the price will change to; when equilibrium reached, demand is increasing, supply increasing, prices increasing. 5. Recently used marketing strategy Companies nowadays like to use a new marketing strategy. Organisations evaluate the demand and the quantity of demand, they producing less quantity of product, therefore artificially create shortage and they can raise the prices too, i.e.: entry-tickets for pop-concerts. (ibid, P.85-86) Conclusion The report found the cheese market very responsive for price changes, which is depending on various factors. Found also the definition of economy; clearly concluded the meaning / variations of elasticity, moreover described the definition of equilibrium. Bibliography ASDA.com. (2014). Asda Groceries. Available: http://groceries.asda.com/asda-webstore/landing/home.shtml?cmpid=ahc-_-ghs-sna1-_-asdacom-dsk-_-hp#search/cheese/7/price_asc. Last accessed 11.12.2014. Begg, D. & Ward, D. (2007). Economics for Business. 2nd ed. New York: McGraw-Hill. p26-p32. Begg, D. & Ward, D. (2007). Economics for Business. 2nd ed. New York: McGraw-Hill. p32-p35. Begg, D. & Ward, D. (2007). Economics for Business. 2nd ed. New York: McGraw-Hill. p76. Begg, D. & Ward, D. (2007). Economics for Business. 2nd ed. New York: McGraw-Hill.p85-86. Begg, D. & Ward, D. (2007). Economics for Business. 2nd ed. New York: McGraw-Hill. p88. Fitday.com. (2013). Substitutions for Cheese. Available: http://www.fitday.com/fitness-articles/nutrition/healthy-eating/substitutions-for-cheese.html. Last accessed 11.12.2014. Investopedia.com. (2014). Definition of Economy. Available: http://www.investopedia.com/terms/e/economy.asp. Last accessed 11.12.2014. Tutor2u.net. (2014). Elasticity of Supply. Available: http://www.tutor2u.net/economics/content/topics/elasticity/elasticity_of_supply.htm. Last accessed 11.12.2014. LON 15403546Mr. Istvà ¡n Csuha

Oku no Hosomichi and Tosa nikki Essay -- Comparative, Travel Diaries

Comparing Oku no hosomichi and Tosa nikki reveals similarities that make one think if they are the same story, and many differences that make it seem they’re just in different formats. They both have similarities in that they both are travel diaries and they both tell of farewells before their journey. Along with the similarities came many differences. The styles of writing of both diaries were different. Also Oku no hosomichi had two characteristics in writing that Tosa nikki did not, and was a philosophy when Tosa nikki was not. When comparing Oku no hosomichi and Tosa nikki there were some similarities. Both Oku no hosomichi and Tosa nikki shared the characteristic of being a traveling diary of events that took place. Another similarity that the two also shared were the farewells described at the beginning of the diary. Both either had friends say goodbye or a celebration. Oku no hosomichi and Tosa nikki both were travel diaries that were just written in different format. Oku no hosomichi was not written without dates while Tosa nikki was. Both the diaries told of events that happened during the journey. Oku no hosomichi describes the journey of BashÃ…  traveling from Edo to the northerly interior region known as Oku and Tosa nikki described the voyage taken to return to Kyoto through the sea. Both Oku no hosomichi and Tosa nikki have a farewell gathering before the long journey. For instance, BashÃ…  describes the farewell gathering between himself and his close friends. â€Å"The faint shadow of Mount Fuji and the cherry blossoms of Ueno and Yanaka were bidding me a last farewell. My friends had got together the night before, and they all came with me on the boat to keep me company for the first few miles. When we got off the b... ...exts was Oku no hosomichi was, in a way, a philosophy and Tosa nikki was not. BashÃ… , throughout the journey was trying to find out his own identity through Dao. Dao is â€Å"the way†, and is experienced. Dao is, in some way, a purpose and that was something BashÃ…  was trying to find. Tosa nikki on the other hand, was simply the first diary that achieved literature value and did not have a philosophical meaning. From comparing the two works of art, I have revealed the similarities and differences within them. Oku no hosomichi and Tosa nikki both share some characteristics like both being travel diaries, but also have differences between them like that of Oku no hosomichi being a type of philosophy and Tosa nikki just being the first official travel diary. In the end these two works may seem like the same diary but they are not when you look deep inside their meanings.

Aquaporin-1 Essay -- Biology Aquaporin

Background Most modern biology textbooks will tell you that low-molecular-weight molecules like CO2, NH3 (ammonia), and urea cross cell membranes by simple diffusion. Some scientists postulate, however, that specific pores mediate this transport. A recent study conducted to further this hypothesis examines expression of the water channel aquaporin-1 (AQP-1) and its enhancing affect on CO2 permeation into cells. Why would scientists challenge the traditional simple diffusion theory? Two strong points of evidence led to this experiment: First, many cell membranes have a very low permeability to small molecules: The outer membranes of some gastric glands allow very little CO2 to enter the cell, while most frog egg cells have membranes that act as virtual barriers to the harsh materials present in their environment. If the simple diffusion theory is correct, diffusion of small molecules into cells should be an unregulated process. If diffusion is an unregulated process, how could some cells have a lower permeability to small molecules than others? Second, scientists have already found membrane proteins that facilitate the entrance of water and urea: While the UT2 protein enables transport of urea past the cell membrane, an entire class of membrane proteins called the aquaporins enable the permeation of water into cells. If small molecules enter the cell by diffusion, why would the cell have extra mechanisms to facilitate their entry? Any Questions? Q) What's this diffusion thing you keep talking about? A) Particles randomly flow from areas of high concentration (a lot of particles) to areas of low concentration (not many particles) until they are evenly dispersed. If you've ever put a normal cell in a c... ...ially exciting opportunity to manipulate gas transport rates lies in cancer research, where inhibiting the transcription of AQP-1 could be the key to killing cancer cells . Cancer cells release more CO2 than most other cells, so stopping these cell's abilty to extrude the gas to their environment would result in cell death. This example is one of many uses for the manipulation of gas transport, however, and the opportunities are endless. The idea that gas transport is actively mediated by the cell is a huge paradigm shift from the traditional belief that transportation is uncontrolled. Further studies (Cooper and Boron, Am. J. Physiol. In press) have proven the conclusion drawn from this experiment, and the search for pores that mediate transport of specific gasses has already begun. The diffusion dogma has been destroyed, and the textbooks will be re-written.

The Shock of Sylvia Plaths Daddy :: Plath Daddy Essays

The Shock of Plath’s Daddy â€Å"Daddy† is one of the most highly anthologized poems of Plath's (along with "Lady Lazarus"). It is a notorious poem, the one once compared to "Guernica" by George Steiner. The imagery and audaciousness of it still shock, so much so that I don't even know if it is being taught or anthologized or taught any more; it is almost as if the critical world has had its say on it and has moved on, either to other poems in Ariel, or to other books altogether, such as The Colossus or Crossing The Water. It has become a modern classic, of a kind, the sort some people (not the ones here, of course!) sigh & look back on fondly, as what/who they read when they were younger, or were obliged to read at some point, dutifully used it in an essay, then put back on the shelf when they were done with the course... "Daddy" is a mean poem, brutal, but at bottom it is about mourning, loss, and what happens when that grief is blocked. I have always taken this as the real topic, that longing to forgive her father, forgive herself, to understand and accept - that was locked, denied, as a part of her childhood, adolescence, until she was 21 and visited (I am taking her literally) her father's grave for the first time. (This poem's essence lies in her not believing her father is dead, and since she never went to his funeral, or even visited his grave as a child, the father is in a strange limbo, a zombie figure.) In 1959 she visited her father's grave and was tempted, oddly as she says, to dig him up & prove to herself that he's really dead. In the poem, she just wants to be with her father (in the reading, her voice definitely becomes emotional when she remembers her childhood with him), or someone like him, but this never works out; in the end, she turns against him, but, as Stewart says, she can never be "through" - I think, because that sadness is again pushed aside, "the voices" (her father, husband, mother?) who still might be able to talk and listen to her are gone. Her father is still there, just as solid & historical as he was in "The Colossus", and just as misunderstood/inflated (two ways blocked grief seems to work).

Human Resource Definition Essay

1. Contingent workers- Someone who is not an employee, but a temporary or part-time worker for a specific period of time and type of work. Employee engagement- The extent to which individuals feel linked to organizational success and how the organization performs positively. Human capital- The collective value of the capabilities, knowledge, skills, life experiences, and motivation of an organizational workforce. Human resource management- Designing management systems to ensure that human talent is used effectively and efficiently to accomplish organizational goals Organizational culture- The shared values and beliefs in an organization. Productivity- Measure of the quantity and quality of work done, considering the cost of the resources used Sustainability-Being able to continue to operate, survive, and adjust to significant changes. ————————————————- ————————————————- Essay Questions: Answer the following essay questions based on the book and class discussions. 2. Ethical behavior in an organization is likely to occur when an ethics program includes these four elements: The four elements necessary to quantify an organization’s ethics are 1) written code of ethics and standards 2) ethics training to executives, managers, and employees 3) availability for advice on ethical situations (i.e. advice lines or offices) and 4) systems for confidential reporting 3. What challenges face HR managers with regard to workforce availability and quality? What are potential solutions? Future supply of and demand for employees and the nature of workforce issues, including the retention of employees. These factors are used when recruiting applicants for job openings. The selection process is concerned with choosing qualified individuals to fill those jobs. 4. What are the three major roles of HR management? Which is/are the most affected by technology and outsourcing? Which roles are growing in importance? 1) administrative, 2) operational and employee advocate, and 3) strategic. 5. Identify the key competencies needed by all HR professionals, and the additional competencies needed by senior HR leaders. HR professionals need competencies in strategic knowledge and impacts; capabilities in legal, administrative, and operational areas; and technology knowledge abilities. Senior HR leaders need these areas plus others to be effective. ————————————————- HR Headline: Read the following and then in teams, answer the following questions: HR Headline: The Challenges and Crises Facing HR Management Recent economic downturns, industry crises, bank failures, closing of plants and stores, changes in global operations, and other factors have significantly affected organizations, managers, and Human Resource (HR) management professionals. Some jobs are in high demand while others are being eliminated. According to surveys, some of the biggest problems include the following: 1) Adjusting benefits programs due to increasing costs; 2) Attracting and retaining key employees; 3) Planning for replacement of â€Å"baby boomers† when they retire; 4) Using talent management to train and develop capabilities of employees for future job needs; 5) Dealing with the expanded personal and organizational use of HR technology through blogs, wikis, twitters, text messaging, and other aspects; and 6) Complying with revised and changing federal, state, and local legal requirements affecting discrimination, treatment errors, unionization, and others. Questions for Discussion: 1. What do you think will be the most important change in the economy that will influence HR management operations? Explain. Their media tend to be a big part of it since that how things are function more. There are so many way to communicate and get things done faster and is more time saving. Also attracts different type of people with different types of skills. 2. How do you think technology changes will change the way HR professionals do recruiting and selection of employees? What are the pros and cons of any changes? It helps people have easier way to apply for jobs or to show their talents. Help HR find people with the skills that they are looking for. But it also disqualifies many people for the reason they are in the internet/ profiles. 3. The number of jobs in HR is predicted to increase between now and 2018. Explain why you think that is? They are going to need more people to be able to hire other that are right for the jobs rather than outsourcing. Since many people are baby boomer, there are going retired soon so that means many companies are going to need new heiress there need HR to be able to cover all the new people that are coming. HR Headline: The Challenges and Crises Facing HR Management Recent economic downturns, industry crises, bank failures, closing of plants and stores, changes in global operations, and other factors have significantly affected organizations, managers, and Human Resource (HR) management professionals. Some jobs are in high demand while others are being eliminated. According to surveys, some of the biggest problems include the following: 1) Adjusting benefits programs due to increasing costs; 2) Attracting and retaining key employees; 3) Planning for replacement of â€Å"baby boomers† when they retire; 4) Using talent management to train and develop capabilities of employees for future job needs; 5) Dealing with the expanded personal and organizational use of HR technology through blogs, wikis, twitters, text messaging, and other aspects; and 6) Complying with revised and changing federal, state, and local legal requirements affecting discrimination, treatment errors, unionization, and others. Questions for Discussion: 4. What do you think will be the most important change in the economy that will influence HR management operations? Explain. Their media tend to be a big part of it since that how things are function more. There are so many way to communicate and get things done faster and is more time saving. Also attracts different type of people with different types of skills. 5. How do you think technology changes will change the way HR professionals do recruiting and selection of employees? What are the pros and cons of any changes? It helps people have easier way to apply for jobs or to show their talents. Help HR find people with the skills that they are looking for. But it also disqualifies many people for the reason they are in the internet/ profiles. 6. The number of jobs in HR is predicted to increase between now and 2018. Explain why you think that is? They are going to need more people to be able to hire other that are right for the jobs rather than outsourcing. Since many people are baby boomer, there are going retired soon so that means many companies are going to need new heiress there need HR to be able to cover all the new people that are coming. ————————————————- ————————————————- Chapter Video—Fruit Guys: After the video, answer the following questions. 6. What do you think will be the most important challenges for HR at Fruit Guys in the next five years? SUMMARYIZED THE VIDEO: It was showing how people in business think in the way of rewarding people in different positions. People that are in a higher position that are being rewarded for their performance in money show there performance actually got worse compare to the people in lower positions that are getting paid less. The study show that the people that have cram time to do a project are more productive and they show more passion on their job. Also people tend to do thing for free in there space time and are more productive since they are not pressured or force to do something they tend to be more productive. 7. Based on the CEO and other manager in the video, it appears that HR at Fruit Guys is expected to be involved in all three roles of HR. Describe an example of HR activities at Fruit Guys required for each of these roles shown in Figure 1-9 in the text.

Comerica Case Study Essay

The purpose of this paper is to recommend Jack to long the Comerica Incorporated (CMA) stock. In this paper we explain how banks operate and present a small back ground on the issue Comerica is facing. Then we more on to financial statements analysis of CMA, which does not present a very strong outlook of the company, but because of the financial crisis, whole industry is experiencing financial stress. Next, our valuation methods show that CMA is undervalued relative to its peers, and hence is a good company to invest in. BACKGROUND: Simply putting, banks accept deposits from public; keep some of those deposits with them and lend the rest to businesses and individuals. Businesses and individuals in turn pay interest on those loans and banks pay interest to depositors, making money from the spread. Nowadays banks operations have become more and more complicated, and hence more important to capital markets. To get in to more detail, banks’ profits come from the following several ways: Differences between Interest Rates on Loans and Deposits: As already explained Banks lend loans at the interest rates that are higher than the ones they pay for deposits. A large part of banks’ profits come from the spread between banks’ depositing and lending rates. Service Fees: Banks provide financial services to their clients and charge certain amount of fees. By charging fees for managing customers’ bank accounts and providing other financial services such as issuing letter of credits, banks create another source of income, known as noninterest income. Now banks’ services have also expanded into investment consulting and information disseminating. These services usually cost expensive fees. Financial Products: Banks provide financial products to help clients manage their property and generate noninterest income. A good example can be that banks sell mutual funds to their clients and gain income from both commissions and certain percentage of the funds’ returns. In addition, banks sometimes also act as  brokers and generate revenues from bid-ask spread. Investment: Some banks play an active role in venture capital industry. By making investments in promising small companies, banks earn the benefits like capital investors or buy-out funds do. In addition, banks can also explore profit opportunities within currency exchange market. Circulation Intermediary for Cash: Bank can boost the economy by reallocating idle money to investors who need money. Banks can gather the discrete money by absorbing deposit and then lend out loans, thereby increasing the liquidity of cash and thriving investment activities. Create Derivative Value: Because of banks, several times the value of original deposit is created. People save their money in banks, and banks lend the money out. New loans throughout the banking system generate new deposits elsewhere in the system. Thus new deposits are derived by the loan and create more sources of cash for banks to lend out. Payment Chains: Banks encourage the business between companies by managing the shift of funds through corporate accounts. Banks can also represent their clients to make payments and help their clients to honor cash. Comerica Incorporated (CMA), one of the 20-largest banks operating in America, has major operations in Midwest, California, Texas and Florida. Comerica operated under three business segments: the business bank, the retail bank and the wealth and institutional management. Due to the financial crisis of 2008, banks, especially ones with high exposure in mortgage related loans, were under a lot of stress. Comerica, being one of them, is being evaluated by the Jack, as a potential investment. CHARACTERISTICS OF CMA’s FINANCIAL HEALTH: Based on the financial statements provided and the Exhibit 5, we have outlined the main characteristics which define CMA’s financial health. Increase in Credit Loss Reserves: Credit loss provisions are the estimated loan losses from the current operating period, which means that company is not expecting to receive these loans back and hence expensing them out, by increasing the allowance for credit losses on balance sheet. There is a substantial increase in the company’s credit loss provisions for Comerica. The percentage of credit loss provisions to PBT plus credit losses skyrocketed, from 3.6 percent in 2006 to 66 percent in Jun 2008, indicating the Corporation’s tough situation in collecting the outstanding loans. Increase in Non-Performing Assets: Reserve coverage ratio, despite the increase in loss reserves, is decreasing dramatically, from 213% in 2006 to 87% in June 2008, indicating an enormous increase in non-performing assets (NPA). The main reason on increase in NPAs the fact that high percentage (32.9%) of company’s total loans is Real Estate loans. This is the reason that company’s interest income has decreased despite the increase in loans made in 2008. Efficiency ratio is basically an operating expense margin measure, the lower the better. The above 60 percent efficiency ratio, 50 percent generally regarded as optimal, is an indicator of company’s deteriorating performance. Use of Long Term and Short Term Debt to Finance Loans: Balance sheet show that Comerica’s total deposits are maintaining a level since 2005, however company’s net loans have increased by almost $10 Billion. Balance sheet clearly shows that these loans are finance from the increase in short-term and long term debt, which cast doubts on the profitability of company going forward. Unsustainability of the Dividend Pay-out Ratio: Exhibit 5 shows an increasing trend in the dividends, which Comerica has tried to maintain despite the low earnings. In the June 2008 quarter, company paid $99 Million as dividends against the net income of $56 Million during the same quarter. These levels of dividends are not sustainable in the current recessionary environment, and when the company does cut dividends, it will send a bad signal to the market. Downward Revision in the Federal Funds Rate: We noticed that spread, which equals to net interest expense as a % of earning assets minus net interest expense as a percentage of interest bearing liabilities, is decreasing. One of the reason of this phenomenon is that interest bearing deposits are increasing – which is bad for the company. Moreover, there has been a downward revision of 3.25 percent in the federal funds’ rate from its original level of 5.25% in July 2007, to 2.0% in 2008 – limiting the banks’ ability to charge higher spreads. Moreover, commercial loans are predominantly floating rate, so decrease in the Federal Funds rate will affect company’s interest income. We do think that decrease in the Fed’s rate will increase the demand for loans but given the credit crunch, it seems unreasonable in the short run. Decrease in Interest Income Percentage Measures: The shrinkage of interest income can be obviously seen from the Corporation’s net interest income as a percentage of earning assets, from 6.82% in 2007 to 4.86% by the end June 2008. This decrease is due to both factors of the ratio, one interest income is decreasing, secondly earning assets for Comerica Inc., which is loans, investment securities available-for-sale and short-term investments are increasing. Moreover, net interest margin, which is calculated as a difference between net interest income and net interest expenses divided by earning assets, show a downward trend. VALUATION: To value Comerica, we have used both methods Jack is planning to use. We will first do the sensitivity analysis (Exhibit 7 in the case) to find the range of tangible book value, earnings and dividends. Using that sensitivity analysis table, we will find the range of firm’s value employing comparable and dividend discount models. Sensitivity Analysis: In the Exhibit 7 at the end of the case, we have already been given the existing quarterly earnings estimates and tangible book value at the end of 2009. Those estimates are based on charge-off ratio of 0.85%. We have completed the sensitivity analysis based on the following assumptions: †¢Percentage of charge off is annual, and dollar value of the charge off will be distributed over each quarter equally. †¢Company’s charge-off ratio taken in 2008 will continue to be the same in 2009. We think this is a  reasonable assumption because of current low reserves for credit losses to NPA ratio of Comerica, as compared to its peers. †¢Company will maintain a certain level of allowance of loan losses. Therefore any increase in percentage of charge off will translate to decrease in tangible book value of the company through the income statement. †¢Dividends are taken to be 48% of earnings in case of positive net income and zero in case of negative net income. Company is trying hard to keep the level of dividends constants, to avoid sending bad signals. But company will not be able to sustain this level of dividends, so it will revert to the historical average of 48% dividend payout ratio (Exhibit – 1). Using these assumptions, we get the range of tangible book value, at the end of 2009, of $5,247 Million in case of 0.85% charge off to $4,647 Million in case of 2% charge-off. Detailed calculations are provided in the Exhibit – 2. Comparable Method: We have chosen two multiples to value Comerica i.e price to tangible book value and price to earnings ratio. Since, due to the current financial crisis, earnings of the companies are very volatile, we think price to tangible book value is a better multiple. Therefore, we will use price to earnings ratio just as a check multiple. Now that we have decided which multiples to use, we need to assign weights to the comparable companies to find out the weighted average multiples. To assign weights, we considered the following factors in terms of similarity between Comerica and comparable companies. †¢Geological location of the operations †¢Percentage of loans from different business segments †¢Financials – Including total revenue break up, return on equity and assets, reserves for loan losses to total loan and total NPAs etc. Based on these weights assigned we calculated the comparable weighted average of the price to tangible book value ratio and price to earnings ratio. Following table summarizes values calculated by both the methods and their sensitivity to the charge-off percentage. Detailed calculations are given in Exhibit – 2 and 3. As we mentioned before, earnings are very volatile right now and are suppressed because of the financial crisis. So we think price to tangible  book value is a better measure of company’s intrinsic value. Therefore we think, company is undervalued right now and hence Jack should propose to long its stock. Dividend Discount Model (DDM): We have also used DDM to find the intrinsic value of the company. We think that company will not be able to sustain its dividends of $0.66 per share per quarter in the short run. However, by year 2010 company will have enough earnings to come back to its previous level. Keeping in mind the fact that company has been growing its dividend payout ratio, and earning are also expected to increase in the long run; we have assumed that company’s dividends will grow at the rate of 2% in perpetuity. Using these assumption, and cost of equity 8.8%, dividend discount model gives us the share price of $40.39 per share, which also indicates that company is undervalued right now. Detailed calculations are provided in Exhibit 4. FUTURE INDUSTRY OUTLOOK: The collapse of mortgage market has taught financial industry an expensive lesson, making a lot of financial institutions unable to fully recover even till now. One of the major factors that cause a lot of banks’ failure and bankruptcy during financial crisis is the banks’ overconfidence in real estate market and issuing huge amount of new debt without the checking credit quality of borrowers. After the financial crisis, banks have become very cautious when dealing with mortgage related loans. Requirements regarding borrowers’ personal incomes and documentation have been considered necessary and valuation process about mortgages has gone very conservative. Facing the illiquidity during the financial crisis, banks are required to improve their capital bases to improve their insolvency. One regulation from Base III incorporates a significant expansion in risk coverage and introduces modified ways to calculate risk-based capital. Moreover, complex hybrid capital ins truments, which used to be considered as a part of banks’ equity, has been exclude from banks’ equity calculation. Base III also puts increasing focus and emphasis on banks to acquire common equity that can be quickly cashed out when facing unexpected situation. The enactment of Base III and the self-improvement happening in the banking industry or, even broader, financial industry have made bank valuation focus more on bank’s  traditional originate-to-hold business, and associated bank’s securitization activities with higher risk. Increasing focus has also been put on a bank’s capital base, which has everything to do with a bank’s solvency and liquidity. Banks, whose equities have complex hybrid equity capital instruments, tend to be less liquid and have higher business risk. Funding source is another factor considered. Banks with less retail funding on their balance sheets are more vulnerable when unexpected situations happen. Loan quality, which had been largely neglected when everyone had big overconfidence to housing market before the burst of the financial cris is, has been brought back to the ‘valuation table’ and greatly reemphasized. These improvements in the regulatory requirements have restored the confidence of investors in the banking industry to some extent. That’s why we see the financial industry raising to the level where it was before the financial crisis. CONCLUSION: Financial statements analysis of CMA does not present a very pretty picture, but because of the financial crisis, whole industry is under stress and experiencing the same deterioration in the quality of earnings. However, our valuation methods show that CMA is undervalued relative to its peer companies and hence is a good investment to hold right now.

Promotion Case Study Essay

Mary Roberts had been with the company three years when she was promoted to manager of the tax department which was part of the controller’s division.Within four months she became a supervisor of ten staff accountants to fill a vacancy.Her superior believed her to be most qualified individual to fill the position. Many senior employees resent her that she so young to fill the position and what made them more upsets was the fact tax managers did not discuss the promotion. QUESTION: 1.What can Mary Roberts do about the resentful senior employees? Mary should tackle this head on she should be direct and assertive about her expectation and when people are crossing the line that means she need to be clear with people when their behavior doesn’t meet her standards and she need to be willing To set and enforce consequence if it doesn’t change 2. Can higher management do anything to help Roberts make the transitions to greater responsibility? Yes, because they are the one who put her in that position of course they will help Mary interms of guiding it `. 3. Will her lack of technical knowledge hinder Mary’s managerial effectiveness? No , because lacking on some aspects on technical knowledge cant bankrupt or destroy a company as long she have a guts to face and accepts failures 4. Should Mary’s superior have discussed the promotion with the senior employees before announcing it? No ,because its not their obligation to discuss it with the employee interms on promoting someone because higher management chooses who deserve and employees should accept it. 5. Could some of the resentment be based on the fact that Mary Roberts was a young woman? No ,because as long she love the job there is no resentment. 6. Should she have turned down the promotion to gain more technical experience? No ,because she is qualifiedfor the position ,not because many higher managers believed in her its because she had s leadership ability and commitment to her work 7. Can a person turn down such promotion without hindering her career in the company? Yes ,as long she is sincere to her decision not,because of the resentment of the senior personnel CASE STUDY NO.2 Leo Harris one of your fire insurance company he is meticulous and anything  coming out of his group is perfect.He always overworking,does not delegate authority and responsibility but rechecks in detail all the work turned out by his group. He keeps turning back to them careless and inaccurate work until it is perfect. QUESTION 1. What are some of the reasons why people do not delegate authority and responsibility? They are afraid that the work that they are working is a failure that they have to recheck and redo it again 2. What are Harris’ responsibilities as a supervisor? As a suoervisor Harri’s have the day to day responsibilities. He should watch or observe the employee performance to ensure that all activity are completed in accordance with spefication and deadline 3. Which can he delegate? Maintain supervisory control. Delegation is not the abandonment of tasks. As a leader, you are still ultimately responsible therefore time should be set aside to observe and meet with the subordinate for follow-through and review of the delegated areas. This follow-through will give you the opportunity to coach the subordinate in his new assigned tasks. Time spent with your subordinate will also provide you with the information to decide whether to intervene or to allow him to fail and learn from his mistakes. Be careful not to take a problem out of a subordinate’s hands and make a decision when he merely wants to discuss it with you. Let him take the wheeldo not make decisions that your subordinate could otherwise make for himself. 4. How should he go about delegating them? Select the task to be delegated and match it to the proper personDelegation is not the assignment of routine tasks to anyone who happens to be available. There is a need to assess strengths, weaknesses and previous experience of all available personnel and then match them with tasks that will utilize their strengths and experience. 5. What are some of the leadership characteristics that Harris lacks? When there’s a failure to communicate: When leaders are constantly flummoxed by those who don’t seem to get it, there exists both a leadership and communications problem. Show  me a leader with poor communication skills and I’ll show you someone who will be short-lived in their position. Great leaders can communicate effectively across mediums, constituencies, and environments. They are active listeners, fluid thinkers, and know when to dial it up, down, or off. It’s all about them: If a leader doesn’t understand the concept of â€Å"service above self† they will not engender the trust, confidence, and loyalty of those they lead. Any leader is only as good as his or her team’s desire to be led by them. An over abundance of ego, pride, and arrogance are not positive leadership traits. Real leaders take the blame and give the credit – not the other way around. Long story short; if a leader receives a vote of non-confidence from their subordinates 6. How can you go about developing them in him? Is to go out with your comfort zone try to communicate. CASE STUDY NO.3 The general manager has hired the services of a personnel administrator but has purposely not defined the newcomer’s role in the organization .As a line supervisor, have become involved in several arguments with this personnel administrator. You have mentioned this usurping of authority to your boss, the general manager, and have asked him to define the personnel job. The boss has answered that he is allowing QUESTION 1. Discuss the above situation from a line point of view  Specific job description should e disclosed to the line supervisor, Important since an administrator is hired there should already be a work that needs to be filled by the one hired. Even if the person is asked to find its own niche we still need to determine the role he applied and just modify it ,If additional work needs to be move. 2. Discuss the situation from a personnel administrator’s point of view. Still trying to identify what were the jobs that needs to be fulfilled by the administrator and his discovering what his boundaries are. 3. Develop a practical working relationship based on the principles of good organization. Know your position and modify what is still needs to be done based on the description trying to step out of the usual job description may have an impact on the role that needs to be performed by the rest of the team which is disorganization 4. It is desirable to allow  the personnel administrator to find his own niche in the organization? Yes , as long as he knows what his original role and just modify if the business needs

Scrooge’s Change in ‘a Christmas Carol’

In the novel A Christmas Carol, Ebenezer Scrooge is a man who is portrayed as very cold hearted, â€Å"the cold within him froze his features†. He always kept attention to himself and never cared about anyone else. The whole town knew him as a bad man, even â€Å"the blindmen’s dogs knew him†¦ and would tug their owners into corners away from him†. Jacob Marley was his partner in life, and even though their relationship was for business only, he was Scrooge’s only friend. In regret from his own life, Marley and the Three Ghosts of Christmas change Scrooge’s attitude towards life.Jacob Marley was much like Scrooge in his life. He also was cold hearted and only cared about money. In his death, he learnt that it was too late for him to change, but he wanted to give Scrooge the opportunity to become a better person. Marley came to Scrooge to warn him about how he regretted not helping people or being kind. Marley now wanted to help people in life, but he wore â€Å"the chain (he) forged in life†. Marley’s visit startled Scrooge, but he still brushed off the warning and thought that Marley was a dream.Jacob Marley regrets not doing all the things he could have in life, but Scrooge is yet to realise why he needs to change. The first ghost that is sent by Marley is the ghost of Christmas past. The ghost takes Scrooge back in time to where Scrooge was born and raised. At the sight of the village, Scrooge softens and is excited for a moment before returning to his old personality. A change is shown at this point because Scrooge reflects on the good past life he had. Scrooge is shown a scene from when he was a boy, left alone at Christmas whilst everyone else was celebrating.It shows how Scrooge is imagining friends because he is so lonely. After seeing himself Scrooge he regrets not paying attention to the people he’s seen celebrating Christmas. â€Å"There was a boy singing a Christmas carol at my door last night, I would have liked to have given him something, that’s all†. This shows that even though Scrooge hasn’t realized that he is changing, he is starting to become more aware of the things he’s done wrong, and of the community. Scrooge is then shown the time when he was an apprentice, under the employment of Mr. Fezziwig.Fezziwig was a jolly old man, who always respected his workers and cared for them, unlike Scrooge. This scene gives Scrooge the lesson to be kinder to his apprentice Bob Cratchit. The ghost shows Scrooge the annual Christmas parties that Fezziwig held, where rooms were filled with laughter and joy, reminding Scrooge that he had a fun and joyous life in the past. â€Å"The happiness (he) gives, is quite as great as if it cost a fortune. † The ghost of Christmas Past changes Scrooge by making him aware of his past life, and the kindness he once showed.Scrooge is visited by a second spirit, the ghost of Christmas present. The spirit transports Scrooge around the city, showing him scenes of festivity and also deprivation that were happening as they watched. He shows Scrooge the Cratchit household and how happy they are despite being poor, for the second time Scrooge realises how he has abused his power as an employer. Tiny Tim is introduced, he is one of Bob Cratchit’s younger children. Tiny Tim walks with a crutch as he has an incurable illness. The spirit shares a vision of Tiny Tim's crutch, carefully preserved by the fireplace.Scrooge asks if Tim will die. The Ghost first states that â€Å"If these shadows remain unaltered by the Future, the child will die†. Scrooge reflects back to his past unkind comments towards two charitable solicitors against him. Scrooge suggests â€Å"had better do it, and decrease the surplus population† (about the poor children of London), Scrooge is disgusted at his own words and is concerned for Tiny Tim and his family. Bob Cratchit and his family all gather round and make a toast to scrooge, even though they know he is disrespectful and â€Å"the ogre of the family†, they still thank Scrooge.The guests of Scrooge’s nephew, Fred, also toast to Scrooge despite his cruelty. The ghost of Christmas Present, changes Scrooge by making him feel obliged to help the poor of London, and the ghost makes him aware of what people think of him. The last and the most fearsome of the phantoms visit Scrooge, the ghost of Christmas yet to come. He takes Scrooge to the future to show Scrooge what happens after Scrooge’s death. People question what happened to the deceased Scrooge, but most of the people yawn and don’t have any interest in what happened. They are interested in his money and possessions.He was â€Å"alone by himself. † This shows that when Scrooge dies he will not be missed and people will not have a care or interest. Three wealthy men remark that his funeral will be cheap,† if anyone comes at allâ⠂¬ . He is taken to his house where a poor family is stealing belongings, and an unmasked figure lies on the bed. The ghost starts unmasking the figure but Scrooge tells him to stop, as he fears the figure is him. The ghost takes him to the graveyard where his â€Å"neglected grave† lay. With a connection to death, Scrooge is taken to the Cratchit’s home where the atmosphere is sad and depressing.The family is all upset over the passing of Tiny Tim. Scrooge wishes he was able to help Bob Cratchit more by raising his money to provide the right treatment for Tiny Tim. Scrooge vows to change and help people for the better. The three ghosts and Jacob Marley, change Scrooge for the better. Their visits made Scrooge aware of his wrong-doing. They showed him what others were like in good spirits, and what would happen in the future if he didn’t change. Scrooge realized how he could change and â€Å"he was better than his word†. The ghosts made Scrooge a better person.

Management Consultancy Essay

Ingram found out about this relationship when Scott’s new client, Barber Distributing, sold to one of Ingram’s customers at a price 10 percent under normal list price to get the DIS project. Ingram places pressure on Scott to get him the best price for the bid or lose his business. 2. What would you do if you were Scott Paterson? * If I were Scott Patterson, I will tell the truth to Ingram that the one truck load of the Bond-do-Perm is not available within two months and I cannot delivered within a few weeks, and once the one truck is already available I will deliver on time. It’s better to be honest than lied to the distributors because the truth will reveal. And after that I will make it up for him to stay to distribute the product to his company. And I will do a lot of explanation for him to understand why I signed up to Barber distribution. 3. What would you do if you were Larry Ingram? * If I were Larry Ingram, same him, I was upset because he signed up to his own competitors which is the Barber Distribution and I cannot understand until he will not explained clearly of what are the reasons why Scott do that to my company. All I have to do is to find another strategy for me to bid the price of Barber Distribution, and I will tell Scott that I cannot promise that I can stay longer on his company because I have to make my sales up and how can I do that if my own competitor are also distributing to the Perfect Solution. 4. What are the ethical considerations, if any, in this case? * The salesman signed the Barber distribution which is the competitor of Ingram’s company, he decided himself without knowing a possibility that he can lose his one of the best distributors.