Tuesday, May 19, 2020

Assessment Of Shell s Corporate Social Responsibility

Topic: Assessment of shell’s corporate social responsibility in the Niger Delta Region of Nigeria Executive Summary Oil for over a decade has been the main source of income for the Nigerian economy. It accounts for more than 70% of export.The Niger Delta region of Nigeria has been plagued with different negative effects of oil exploration. The environment, economy and even quality of human life have been greatly affected. This has created a lack of trust between the inhabitants and the oil companies, and even with the Nigerian government. Corporate Social responsibility (CSR) has been viewed in different ways by different school of thoughts; some see it has a voluntary initiative, while others think it’s a main part of every company’s structure and even an opportunity to improve brand. For this work, we would take the position of the later argument. It is simply giving back to the environment that you gain from. It involves protection of the environment, development of quality of the occupants of the environment and improving their quality of life. Like Barnard (1938), it is analyzing the social, economic, moral, legal and physical aspects of the environment. This project seeks to objectively analyze the activities of oil companies in this region. Shell, a major player in the oil industry of Nigeria received the spotlight. An extensive analysis of their CSR was done. This was achieved by comparing with different standards; notably the ISO26000. A review of the NigerianShow MoreRelatedDescription Of Royal Dutch Shell Plc1229 Words   |  5 Pages(a) Description of Royal Dutch Shell plc Royal Dutch Shell plc is a public limited company registered in England and Wales and headquartered in The Hague, the Netherlands. It has three business segments: upstream, downstream and corporate. Upstream: focus on exploration for new liquids and natural gas reserves and on developing major new projects. Downstream: focus on turning crude oil into a range of refined products for domestic, industrial and transport use. [1]Shell’s major focus on need toRead MoreThe Political Shift Of Academia Into The Conscious Of A Corporate903 Words   |  4 PagesSteck explains the political shift of academia into the conscious of a corporate - based businesses. By the mid-90s, corporations transcended a physical fixture of the landscape, being integrated in the university itself through intangible means such as the internet. How so? Google is the enterprise that controls electronic research and the transfer of the university s email system. On a personal note, the new age has taken over the former physical bookstore on the UC campus- now dominated byRead MoreHenry Steck s Ideologies- Corporatization Of Higher Education921 Words   |  4 PagesCorporatization of Higher Education Steck explains the political shift of academia into the conscious of a corporate - based businesses. By the mid-90s, corporations transcended a physical fixture of the landscape, being integrated in the university itself through intangible means such as the internet. How so? Google is the enterprise that controls electronic research and the transfer of the university s email system. On a personal note, the new age has taken over the former physical bookstore on theRead MoreSustainability Royal Dutch Shell Essay6614 Words   |  27 Pages 5. Shell’s Strategic Approach to Sustainability6 6. Literature focusing three sustainable issues9 7. Theory/Models used to evaluate Shell’s response to sustainability12 8. Recommendation on What Shell could do to become a sustainable business14 9. Conclusion15 10. References 17 Executive Summary SustainabilityRead MoreTaco Bell Case Study1448 Words   |  6 PagesCOMMUNICATION STRATEGY (C/S) WORKSHEET PURPOSE: General: Identify and address key issues behind recent outbreak and food safety image while maintaining customer loyalty and consumer behavior. Action: Investigate, test, and report all possible sources of E. Coli and Hepatitis A (including all midpoints between farm and restaurant), evaluate store sanitation procedures and inventory logistics, report findings and recommendations as required by regulatory agencies. Communicate: Once sourcesRead MoreAccounting Theory Assignment 21710 Words   |  7 PagesTopic: How social and environmental reporting practices undertaken by companies highlight the limitations of the conceptual framework. Introduction: Accountancy has always been concerned with mainly the accountability of directors to shareholders and companies to creditors. As companies grow larger and become more integrated with the society, this call for a focus towards sustainability and being accountable to a wider range of stakeholders (Perks, 1993). Corporate Social Responsibility is definedRead MoreMultinational Companies and Their Social Responsibilities (Α Case Study of Shell, Nigeria)15078 Words   |  61 PagesCHAPTER TWO 2.0 AN OVERVIEW OF SHELL DEVELOPMENT COMPANY IN NIGERIA 2.1 Introduction This chapter will provide basic knowledge of Shell Nigeria Oil Company and its operation in Nigeria, in particular regarding its ethics, performance, social involvement, contribution to national income and its contribution to keeping the environment green. Since the Rio Conference of 1992 the code of conduct for all extractive industries including crude oil mining companies has underlined the following principlesRead MorePest, Swot And Porter s Five Forces Model Of Competitive Advantage1646 Words   |  7 Pagesoverview of the renewable energy industry and some other background, a critical environmental analysis of the industry will be examined using PEST, SWOT and Porter s Five forces model of competitive advantage. 3.1 Political, Economic, Social and Technological (PEST) Analysis 3.1.1 Political Factors The continuing decline in the UK s oil and gas industries has led to an increasing need to import oil and gas (Keynote, 2010). Resulting in the UK competing in the world markets for its oil and gas requirementsRead MoreShell in Hrm3501 Words   |  15 PagesTable of Contents Introduction 2 Effective Employee Selection 3 Application 3 Interview 3 Final Assessment 4 Rationale for the employee selection 4 Strategy Influenced by Other Factors 4 Internal factors 4 External factors 5 Training programs 6 Tailored Training 6 Leadership Program 6 On-the-job learning 7 Off-the-job learning 7 Rationale for the training programs 7 The strategy influenced by other factors 8 Internal factors 8 ExternalRead MoreTriple Bottom Line10664 Words   |  43 Pageson both conceptual and practical grounds that the Triple Bottom Line is an unhelpful addition to current discussions of corporate social responsibility. Finally, we argue that the Triple Bottom Line paradigm cannot be rescued simply by attenuating its claims: the rhetoric is badly misleading, and may in fact provide a smokescreen behind which firms can avoid truly effective social and environmental reporting and performance. Introduction T he notion of Triple Bottom Line (3BL) accounting

Analytic Functionalism As A Philosophy Of The Mind

Michael Lock Professor Davis PHIL 110000 28 April 2015 Analytic Functionalism as a Philosophy of the Mind In an attempt to bridge the gaps between the philosophy of behaviorism and the identity theory, I have determined that functionalism presents us with the best solution. Although there are several concerns to the methodic explanation of mental states, I believe that analytic functionalism is a credible model that describes the mind. Analytic functionalism establishes an ontological method that provides more acceptable ways to describe and characterize the mind. I will contend my point by first explaining the evolution into functionalism, specifically analytic functionalism. I will then explain one of the most prominent objections, the â€Å"Chinese Room† argument by John Searle. Beyond this argument, I will offer my rebuttals for these assertions and stipulate reasoning for analytical functionalism’s rational reliability as a suitable philosophy of the mind. With the decline of behaviorism, the identity theory, or type physicalism, gained popularity within the philosophic community. J.J.C. Smart, also aiming to work reductively to shrink mental states to an uncomplicated classification, introduced the stance that identity theorists began to agree with. This was the theory that physical brain states could be simply equated with mental states. For example, the mental state of pain could be associated with the firing of the localized c-fibers region of the brain. What thisShow MoreRelatedThe Plausibility of Analytic Functionalism Essay2149 Words   |  9 PagesThe tenets of analytic functionalism worked well at attempting to align the philosophies of behaviorism and the identity theory, and though there are many objections to the theory’s method of formulaic definition of mental states, I find that analytic functionalism is a plausible theory that describes the mind. I find that in determining a means in which to define mental stat es, analytic functionalism demonstrates an ontological method in which one can characterize the mind using statements thatRead MoreFunctionalism And Functionalism Of Functionalism1837 Words   |  8 PagesA Functionalism is the theory that what makes something a mental state depends on its function or role in the cognitive system, instead of its internal constitution. To put it another way, functionalism holds that mental states correspond to functional states. Functionalism is the offspring of both identity theory and behaviorism, and comes in a few different flavors. For example, there is machine functionalism, psycho-functionalism, analytic functionalism, role-functionalism and realizer-functionalismRead MorePsychology1731 Words   |  7 Pagesof study. Functionalism- Functional psychology  or  functionalism  refers to a general psychological philosophy that considers mental life and behavior in terms of active adaptation to the person s environment.  As such, it provides the general basis for developing psychological theories not readily testable by controlled experiments and for applied psychology. Functionalism arose in the U.S. in the late 19th century as an alternative to  Structuralism (psychology).  While functionalism never becameRead MoreFunctionalism And Qualia On The Mind Body Problem2244 Words   |  9 PagesFunctionalism and Qualia Introduction: It can be very difficult to find a universal proposal that offers a solution to the mind body problem. While solutions to this problem differ greatly, all attempt to answer questions such as: What makes a mental state mental? What is the fundamental nature of the mental? Or more specifically speaking, what makes a thought a thought? Or what makes a pain a pain? In an attempt to answer these questions, many philosophers over the centuries have rejected, proposedRead MoreWhat is functionalism? Critically assess its main advantages and disadvantages.3994 Words   |  16 PagesFunctionalism is one of the major proposals that have been offered as solutions to the mind/body problem. Solutions to the mind/body problem usually try to answer questions such as: What is the ultimate nature of the mental? At the most general level, what makes a mental state mental? Or more specifically, What do thoughts have in common in virtue of which they are thoughts? That is, what makes a thought a though t? What makes a pain a pain? Cartesian Dualism said the ultimate nature of the mentalRead MoreLiterature and Language10588 Words   |  43 Pagesdiscipline has been developing at an enormous speed. As Carter and Simpson (1989) observed, at â€Å"the risk of overgeneralization and oversimplification, we might say that if the 1960s was a decade of formalism in stylistics, the 1970s a decade of functionalism and the 1980s a decade of discourse stylistics, then the 1990s could well become the decade in which socio-historical and socio-cultural stylistic studies are a main preoccupation.† At the present, according to Shen (2000), the most recentRead MoreOrganisational Theory230255 Words   |  922 Pagesorganization theory: back to the future? Neo-modernist organization theory: putting people first? Neo-modernist organization theory: surfing the new wave? Postmodernist organization theory: new organizational forms for a new millennium? Postmodernism as a philosophy: the ultimate challenge to organization theory? Reflective organization theory: symbols, meanings and interpretations Reflexive organization theory: critical theory and psychoanalysis The evolution of management as reflected through the lens of

Wednesday, May 6, 2020

Prosperity of the 20s - 1946 Words

How did the Prosperity of the 1920’s impact the Great Depression and how would this depression be escaped? World War 1 was a very traumatic time for America. Not just a lot of money was lost and owed to America, but many people lost their life. Coming out of World War 1 people were looking for hope, something to lift their spirits. The Roaring Twenties could not have come at a better time. The Roaring Twenties was an era of technological advancement, and a better economy than America had ever seen. What people didn’t know is that this couldn’t last forever, and that the era that would follow the Roaring Twenties would be an age of darkness and would make up for all the carelessness from the prosperity that occurred in the 1920’s. After the Great War, also knows as World War 1, people had just come out of an era of death and depression. People were looking for something that would make them happy and to better the life in America. They got exactly what they hoped for through the 1920’s. This era was also called the Roaring Twenties for all the advances in techno logy, agriculture, and most of all lively culture. All these things made life much easier, happier, and less concerned about money for the people that lived in the United States. On top of that, The Roaring Twenties was a time of rapid change. Artistic innovation and popular culture flourished heavily in this age and most of all the economy boomed. Businesses were making much more profit and employeesShow MoreRelatedThe Roaring 20 s Era Of Growth And Reform1309 Words   |  6 PagesThe era of the 1920s, also known as the Roaring 20’s, was a revolutionary time in which radical changes struck the American nation, drastically increasing advances in society and economy. New and different forms of dance, music, clothing, behavior, and lifestyle were developed nationwide. The Antebellum Period in the late 1700s increased rebellion, similar to the Roaring 20’s era of growth and reform. As this time period brought profound changes, conflict, cultural excitement, and experim entationRead More Causes of the Great Depression Essay1143 Words   |  5 PagesCauses of the Great Depression Throughout the 1920’s, new industries and new methods of production led to prosperity in America. America was able to use its great supply of raw materials to produce steel, chemicals, glass, and machinery that became the foundation of an enormous boom in consumer goods (Samuelson, 2). Many US citizens invested on the stock market, speculating to make a quick profit. This great prosperity ended in October 1929. People began to fear that the boom was going toRead MoreThe Essence Of The 1920 S1659 Words   |  7 PagesEssence of the 1920’s in The Great Gatsby â€Å"The Roaring Twenties was the period of great American prosperity which was built on shaky foundations.† For decades, the 1920’s have been interpreted as a period of economic prosperity and social change in which the novel The Great Gatsby was born. In the early 1920’s, the United States experienced a period of immense reorganization of social and economical life; therefore, this post- World War I era became referred to as â€Å"The Roaring 20’s†, â€Å"The Jazz Age†Read MoreGlobalization : Globalization And Sustainable Prosperity1032 Words   |  5 Pagessustainable prosperity â€Å"To what extent does globalization contribute to sustainable prosperity for all people?† Globalization’s impact on sustainable prosperity is examined in the source. It does this by asking a question. Also examined is the impact on all people and this would include both developing nations as well as developed nations. The source is also somewhat leading the reader to question the extent of the impact, which implies that there is a positive impact on sustainable prosperity. AlsoRead MoreThe Similarities and Differences of the 1920’s and 1950’s898 Words   |  4 Pagesturbulent times in history have come the greatest ages of success and prosperity. The 1920’s and 1950’s are two eras that exemplify the spirit of triumph and wealth. In both decades, a nation thrilled by the victorious conclusion of war and the return of their loved ones from war entered into an age of capitalism and materialism, bolstering the economy and with it national pride. Some of features most common to the 20’s and 50’s were consumerism and the acco mpanying optimistic mindset, the extentRead MoreAnalysis Of F. Scott Fitzgerald s The Great Gatsby1558 Words   |  7 PagesWar changes many things. It changes people, families, towns, and societies. War changes the world and it changes people s attitudes. One common trend seen after major wars is a time of economic prosperity, when the economy is booming and all is well. This was seen after both World Wars, in the 1920’s and the 1950’s. In each decade, everyone was returning from the war, spirits high, and looking to celebrate. The economy prospered, and all was well. One major change that came about from theseRead MoreThe Shady Shift After World War I1166 Words   |  5 PagesThe Shady Shift After World War I America s economy was booming. People everywhere were making money and spending it on electronics, movies, cars, music, and late night parties. This was the time when no one had a care in the world and just enjoyed the luxury life style. But while everyone enjoyed the new amenities and frivolous spending, no one knew what was going on with the banks. Most people were extremely overjoyed with all the money coming in, it hadn’t occurred to them what problems wereRead MoreCase Study : Apple Inc.979 Words   |  4 Pagestruly got Apple commencing the ground. This report dissects Apple s achievement in these territories, investigating the things that went right. It will further talk about the things that could and did turn out badly for Apple after the iPod business sector had taken an immersion position what s more, how music deals were influenced by Apple s systems. This will be trailed by an arrangement of suggestions that Apple Inc. what s more, its administration could follow keeping in mind the end goalRead MoreWorld War I And The Great War1196 Words   |  5 Pagesperiod under the influence of mass media. World War I, or the Great War, was one of the bloodiest wars of all time. It was a war sparked by militarism, alliance, imperialism, and nationalism. However it’s affliction laid the groundwork for post war prosperity. Nearly all social classes felt its benefits. Workers rights improved, taxes were lowered, technology advanced, and industry boomed. The war was brutal and the roaring twenties were a chance for the United States to put the past behind and enjoyRead MoreEconomic Prosperity : George Washington s Farewell Address1660 Words   |  7 PagesEsh a Parikh Blanchard APUSH 2 16 January 2015 Economic Prosperity: 1898-1945: Prior to the 1890’s, the United States followed a foreign policy of seclusion to worldly matters. This idea stemming from George Washington’s Farewell Address to â€Å"avoid entangling alliances† became the foundation for American seclusion and detachment, a policy which resulted in this country being able to overcome tremendous internal difficulties facing the rising, fast-changing state of America. The Manifest Destiny enlarged

Cheating And Other Forms Of Academic Dishonesty - 1511 Words

When doing an assignment for a teacher, whether it be something extremely unimportant, or something as highly viewed as a standardized test, do not let anybody tell you that they need to see your answers or your work on the test or assignment. People can get in serious trouble for this in the real world. By saying the real world, I mean in high school, college, or the place of work. The definition for this action is, â€Å"academic dishonesty.† It defines as, â€Å"Misconduct is any type of cheating that occurs in relation to a formal academic exercise.† It can include, plagiarism: the adoption or reproduction of ideas or words or statements of another person without due acknowledgment.† (Berkely) So, in simpler terms this means using somebody†¦show more content†¦According to Sarah Sparks, in her article Studies Find Cheaters Overinflate Academic Ability, not only are students who cheat successfully more likely to cheat again, but as they cheat more freq uently they rationalize their cheating to ease their consciences. Sparks is concerned that students who cheat begin to value grades only for the grades themselves, and not for the education they were supposed to have claimed. The people who are most affected by these actions are, the student-teacher relationship. By the student cheating off of someone else and getting caught they set up a reputation of cheating between themselves and the teacher that caught them doing so. The next thing that is affected by this, is the others who don’t cheat. Now you wouldn’t think that this group is affected but they are one of the most affected. This is because the student sets up a reputation for the whole class because of his or her actions. Lastly and most obvious is the student that cheated. All they are doing is handicapping them selves because if you cheat you haven t actually learned anything from it therefore hurting your knowledge of the concept. The consequences of cheating can be hard for a tween or teen to understand. Without the ability to see the long-term effects, children may feel that the pros of cheating (good grades) outweigh any negatives. (middleearthnj) I have experienced what these children feel when they think that the pros can outweigh the

Strategy of Starbucks Company & Apple Inc-Free-Samples for Students

Question: Discuss about the CompetitiveStrategy of Starbucks Company Apple Inc. Answer: Starbucks Company Starbucks is a food and beverages services provider firm who is currently managing its business worldwide. The company is famous for providing high-quality coffee to coffee lovers. The company diversified its business to 70 countries by opening 24,000 stores (Starbucks 2017). The company is famous for delivering best coffee along with good and satisfactory services to its customers. The reason for selecting Starbuck Company in analyzing the organization excellence is that the company has initiated many projects for development and increasing the efficiency of the company. Also if asked with the target audience for their preference, major segment of the society will vote for Starbucks being their first choice; which shows that Starbucks is widely appreciated and used by them (Starbucks 2017). The mission and vision of the company suggest that the company wants to achieve leadership in all facets of the business by providing pleasant and satisfactory services to its stakeholder. For the same purpose, Starbucks initiated an innovative strategy in order to excel in their existing business. The company commenced the strategy by initiating following steps: Firstly Starbucks identified a few questions in their organization and then focused on making strategy by solving the questions (Trefis Team 2016), which are: Where do we compete: this identified the target market and other environmental factors under which the company is going to prevailing in the market. Further the company analyzed the market conditions under which they were entering; also they looked after the geographic advantages and disadvantages which would help the market in future for achieving the goal and objectives. For the purpose of attainment of organization objective, it is a mandatory procedure for the company to gain adequate knowledge about their product and the market in which they are (Galliers, Leidner 2014). What unique value does the company input in their product in order to gain market capitalization: for a company to differentiate themselves in the market, the need to initiate their unique selling proposition. USP refers to that product differentiation aspect which is not present in any other similar product in the market. Due to this quality the product is being highly sold in the market. Thus, the company Starbucks focused on selling coffee made of rick coffee beans which attracted many customers. Due to the richness in taste of the coffee, customers started using their product which made the company gain the market capitalization (Starbucks 2017). Resource and capabilities: the company optimized their input properly in order to generate output for the company. Resources of the company such as efficient human resource and networking system etc. are used to achieve profits. Human resource helped the company in achieving the target by working efficiently and effectively. Also social media helped he company in delivering the services on time and seek for customer feedback. Feedbacks gave the company a path to follow and gain mission. How to sustain USP: in order to maintain the market share, the company took steps to sustain in the market. Such as, the company introduced various vouchers and gift in order to keep the interest of the customer in the company. Also, the company updated their menu to maintain their specialization in the market (Peng, Wang, Jiang 2008). Apple Inc. Apple Inc. is a multinational company who serves electronics to the customers worldwide. It is the world largest information technology company which works under a wide network of 498 retail stores in 22 countries. The reason for choosing Apple Inc. is that the company gave a new innovative phase to the technological world. Also currently apple is gaining market capitalization because of its efficient and innovative business model (Slack 2015). The company is perceived to excellent the technology industry due to its leadership traits and product differentiation in the market which attracts the customers to buy their products; this leads to the growth of the company in the market (Hahn, Kolk, Winn 2010). For the purpose of efficient working in the system along with maximization of profit, the company adopted the razor and blade framework back in the year 2001. Razor and blade framework refers to strategy model under which the company provides certain complementary advantages to the customers apart from their main business line product. Such as the company apple sold its products at a minimum range (to make it economical for the customers) and then earn revenue from the accessories (Dormehl 2015). Like, the apple watches uses high tech spin in this case, the company smartly use this technology to earn revenue with maximum profit. The company sells watches with minimum profit margin and the buyers also prefer to purchase the various band for the watches. The company increases the cost of the band and earns high revenue with it (Andersson et. al., 2015). For instance, the sports band which cost around $2.05 to the company is sold for $49. So, in this way the company applies the razor and blade strategy and earns the profit. Other ways through which this tool is used by the company is that, the company sells iPhones at a minimum profit margin and earns revenue from iTunes and other application installed in the phone (PatentlyApple 2015). Per song, the company earns 65 cents per song. Through this technique the company lures the customers to buy the product at cheap prices. Also, the model cannot be imitated by any other competitor in the market as in the Apple Inc. All the depart ments are interlinked with each other (complex design) resulting to which profits of the company is shared by all (Peng, Wang, Jiang 2008). The razor and blade is an innovative as well as aggressive business technique used by the company to gain profit. Perhaps the Apple Inc. uses this technique efficiently to sell all its products in the market along by gaining the satisfaction of the customers. It becomes easy for the customers to purchase the product at cheap prices and company also gains profit by providing them additional services with maximum profit margins (PatentlyApple 2015). Thus it can be said that the company optimally uses all the resources provided to it along with effective management strategy in order to gain market capitalization and satisfaction of customers. References Andersson, U., Gaur, A., Mudambi, R. Persson, M., 2015. Unpacking interunit knowledge transfer in multinational enterprises. Global Strategy Journal, 5(3), pp.241-255. Dormehl, L, 2015, Forget the Apple Watch, extra bands are where the big profit is, viewed on August 5, 2017 from https://www.cultofmac.com/326702/razor-blade-business-model-giving-apple-an-edge-on-watch-bands/ Galliers, R.D. Leidner, D.E. eds., 2014. Strategic information management: challenges and strategies in managing information systems. Routledge. Hahn, T., Kolk, A. Winn, M., 2010. A new future for business? Rethinking management theory and business strategy. Business Society, 49(3), pp.385-401. PatentlyApple, 2015, Apple's High-Tech Spin on the Razor-Blade Business Model is Paying Big Profits with Apple Watch Bands, viewed on August 5, 2017 from https://www.patentlyapple.com/patently-apple/2015/06/apples-high-tech-spin-on-the-razor-blade-business-model-is-paying-big-profits-with-apple-watch-bands.html Peng, M.W., Wang, D.Y. Jiang, Y., 2008. An institution-based view of international business strategy: A focus on emerging economies. Journal of international business studies, 39(5), pp.920-936. Slack, N., 2015. Operations strategy. John Wiley Sons, Ltd. Starbucks, 2017, Company Information, viewed on August 5, 2017 from https://www.starbucks.com/about-us/company-information Starbucks, 2017, Starbucks Company Profile, viewed on August 5, 2017 from https://www.starbucks.com/about-us/company-information/starbucks-company-profile Teece, D.J., 2010. Business models, business strategy and innovation. Long range planning, 43(2), pp.172-194. Trefis Team, 2016, Let's Look At Starbucks' Growth Strategy, viewed on August 5, 2017 from https://www.forbes.com/sites/greatspeculations/2016/09/19/lets-look-at-starbucks-growth-strategy/#57d3172a3d71

Corporate Financial Management of Superannuation †Free Samples

Questions: 1.What are the important factors that should be considered by tertiary sector employees when they are deciding whether to place their superannuation contributions in the Defined Benefit Plan or the Investment Choice Plan? What issues relating to the concept of the time value of money may be important in this decision-making process? 2.If the efficient-market hypothesis is true, the pension fund manager might as well select a portfolio with a pin,Explain why this is not the case? Answers: 1. There are two investment options with regards to superannuation for the tertiary employees which have been outlined in the given question. A brief discussion of these two would be helpful in carrying out further discussion on the topic and address the key issues at hand. Defined Benefit Plan As the name suggests, this is a type of plan where the annual returns are defined and hence there is no fluctuation of the annual returns on the performance of the underlying portfolio investment from the pooled superannuation fund. The contribution to the superannuation plan is pooled and invested across a host of asset as thought appropriate by the trustees and any potential gains and losses are borne by the trustees only while ensuring that the employees are safe and would be assured of a pre-determined rate. As a result, in this, the concerned employee can plan as to how much money should be invested periodically so as to assure that at the retirement time, the concerned individual has a particular amount which the person desires to meet expenses post retirement. Investment Choice Plan In contrast to the defined benefit plan, the investment choice plan does not offer any fixed returns and these essentially would depend on the performance of the market and the various assets in which the investment is made. As the risk appetite of various employees tend to be different depending upon a host of factors, hence various choices are given in terms of the funds and the composition of the same. For instance, a secure fund would limit investment only to the debt instruments and then gradually incremental funds would tend to increase the percentage weight of equity representation to reach an all share fund which would typically have the higher risk but with the potential of higher returns as well. In this particular plan, annually the gains made can be shared amongst the members after making the requisite deduction for management fees and other expenses. Having discussed the broad contours of the two available plans, the various factors that the tertiary sector employees would consider while availing a particular plan are highlighted below. Amount of risk averseness There are some employees who would prefer the fixed benefit plan over the investment choice plan only because it offers a fixed return which is not market linked. Most people especially those who do not have exposure to stocks or other financial assets tend to be skeptical of the fluctuations in the market. Additionally, since some investors do not want to assume risk, hence a lower but assured returns sound more lucrative to these instead of the potentially higher average returns that could be offered through the investment choice plan (Ross, Trayler and Bird, 2007). Savings level of employees For employees having low savings, it is preferable to opt for defined benefit plan. This is because these individuals might only have the superannuation fund as the only option for the post retirement expenses as other savings would be meager only. In such a scenario, the concerned person is driven by capital preservation rather than capital appreciation and therefore would be driven by the promise of defined and assured benefits (Damodaran, 2010). On the other hand, an employee who has high savings can afford that the returns are lower or there is some loss of capital as there are alternate support mechanisms for the post retirement life and thereby higher flexibility to assume risk is available and therefore such individuals may be more declined at being comparatively more risk taking and hence preferring the investment choice plan (Brealey, Myers and Allen, 2012). Amount of funds required at retirement It is obvious that the returns offered under the defined benefit plan would be lesser in comparison to the highest possible return in the investment choice plan. This is primarily because of the underlying market risk that is involved in the later scheme and since the investor is willing to assume risk, hence he/she would be deserve higher risks also (Damodaran, 2007). Considering the rate offered, age at which contribution to the superannuation starts, it might be impossible for the investor or employee to reach the intended target by the time of retirement. It therefore would make sense for the employees to search for alternatives primarily in the form of investment choice plan whereby assuming higher risk, the concerned individual can potentially reach the intended goal (Beck et. al., 2013). Familiarity with stock market There are some employees those who do not know much about the stock market but are aware that it can potentially yield superior returns. Since they lack the innate understanding, hence they prefer passive investment in comparison to active investment. Hence, it is likely that these may prefer the investment choice plan which provides the investor with an opportunity to enter the market with a risk level that they intend to take. For a risk averse employee also, there is the irrational fear associated with the market vagaries and preference for the defined benefit plan so as to avoid any speculation (Bodie, Merton Cleeton, 2009). Current Investment Portfolio It is quite possible that some of the employees may be active investors and thus may have portfolios of their own. Such investors may look at hedging their portfolios by investing in defined benefit plan so that even if there is a market crash and they tend to incur heavy losses on their portfolios atleast they have their retirement funds secure and thus would not have to worry. On the other hand, investors with no exposure to asset markets may be more willing to take exposure through investment choice plan (Brealey, Myers and Allen, 2012). Liabilities on employee (Both Present and Future) The choice made by the employee in relation to the superannuation plans would also depend on the current and future liabilities on the concerned person coupled with the age. At a young age, the liabilities are typically lesser and also earnings have just commenced and hence the focus is on capital appreciation with a bias towards the investment choice plan. However, as age passes by, liabilities increase and also the focus shifts to capital preservation as retirement seems approaching. Thus, depending on the priority, age and underlying liability, the employee decision would change (Ross, Trayler and Bird, 2007). Role of time value of money In reaching a decision with regards to the suitable plan, it is pivotal the take the time value of money into consideration. This is because money has an opportunity cost attached and therefore it is imperative that the plan chosen should be such that it should provide superior returns for the investor. It is imperative to note that return must not be looked at in isolation but rather in association with underlying risk and investor should take decisions which tend to maximize the return per unit risk (Damodaran, 2007). For instance, while comparing the two plans, it is imperative to consider the opportunity cost of the money and thereby evaluate the available options. Thus, the returns given by the various plans should not be evaluated using absolute numbers but the relative approach is more preferable. For instance, if a defined benefit plan offers an annual return of 2% pa while the investment choice plan could offer 8% by choosing twice as risky an asset allocation. Further, assume that the money could be deposited in the bank with an assured return of 2.5% p.a. In such circumstances, it does not make sense to invest in defined benefit plan due to abysmally low returns while the return per unit is impressive for investment choice plan which should be preferred (Troughton et. al., 2012). Also, it is imperative to note that with time the money tends to lose value on account of inflation and this should also be considered. This is especially useful in deciding a target that the concerned individual would intend to have at retirement so as to have an annuity which could maintain the expenses. The same expenses as total could potentially cost several times after retirement depending upon how far is the retirement time from the present time (Brealey, Myers and Allen, 2012). But assuming an average rate of inflation, suitable adjustments have to be made so as to narrow down a particular annuity payment desired so that the future value of corpus at the time of investment may be determined. Based on these computations coupled with the available contribution that can be made periodically, the desired rate may be computed and then it can be evaluated as to which particular investment plan could potentially offer that return. If the defined plan can meet the desired target in a ccordance with the time value of money, then the same should be preferred or else investment choice plan may be the best bet (Damodaran, 2010). 2. It is imperative to understand the EMH or Efficient Market Hypothesis before making an attempt to answer the question. The broad outline of the EMH is that the financial markets are efficient and therefore no investor can sustainably and consistently beat the market by indulging in any type of analysis be it technical, fundamental analysis or any other technique. There are three different levels of efficiency which a stock market may exhibit (Ross, Trayler and Bird, 2007). These are briefly outlined below. Weak form EMH In accordance with this, the future stock prices tend to follow a random walk and are not related to past prices in any manner. As a result, technical analysis is futile as through empirical data it searches for price patterns and then prescribe trading calls based on these underlying price patterns (Damodaran, 2007). Semi-strong form EMH In accordance with this, whenever any new material information is available which tends to impact the valuation of the stock, the stock price adjusts in such a manner that it does not offer any potential to the investors to earn abnormal returns. As a result, it hints towards the futility of fundamental analyses which aims at particular news flow for estimating the movements in the stock prices and also assuming positions (Berk et.al., 2013). Strong form EMH In accordance with this, all the information irrespective of whether it is public or private is already built into the stock price at which it trades in the market and the market price tends to be the intrinsic price and does not offer arbitrage opportunities which would allow the traders to make abnormal gains and beat the market index (Damodaran, 2010). The above discussion may reflect that the pension fund manager has no role to play in a efficient market since tools like technical and fundamental analysis are futile as the prices follow a random walk and also no trading opportunities are provided whenever a new information enters. Also, the current stock price may be reflective of the intrinsic price. However, despite this, the fund manager cannot pick the stocks with a pin and has a pivotal role to play as explained below (Troughton et.al., 2012). The stock market offers two kinds of risk i.e. diversifiable risk and non-diversifiable risk. The diversifiable risk cannot be avoided no matter what the fund manager might do. But it is imperative that diversifiable risk also called unsystematic risk should be minimized through diversification. As a result, it is imperative that the fund manager does not choose the stocks randomly as it may not lead to a well diversified portfolio and hence the overall risk would be higher (Bodie, Merton Cleeton. 2009). Further, considering that the manager is looking after pension fund, thus typically those stocks must be chosen which have typically lower beta and are therefore not very risky. This cannot be carried out in a random manner as the resultant stock may be highly risky and unsuitable for pension fund investment. Also, the fund manager should aim to invest in stocks which have the higher return per unit risk in accordance with the portfolio theory. As a result, it may be concluded that the pension fund manager must not choose stocks with a pin even in a efficient market (Brealey, Myers and Allen, 2012). References Berk, J., DeMarzo, P., Harford, J., Ford, G., Mollica, V. and Finch, N. (2013)Fundamentals of corporate finance. 2nd edn, London: Pearson Higher Education Brealey, R.A., Myers, S.C. and Allen, F. (2012)Principles of corporate finance. 2nd edn. New York: McGraw-Hill Inc.,US. Ross, S.A., Trayler, R. and Bird, R. (2007)Essentials of corporate finance. 2nd edn Sydney, Australia: McGraw-Hill Australia. Damodaran, A. (2010)Applied corporate finance: A users manual. 3rd edn. New York: Wiley, John Sons. Damodaran, A. (2007)Corporate finance: Theory and practice. 2nd edn. New Delhi: Wiley indiaPvt. Troughton, G.H., Fridson, M.S., Scanlan, M. and Clayman, M.R. (2012)Corporate finance: A practical approach. 2nd edn. United States: John Wiley Sons. Bodie, Z., Merton, R. C., Cleeton, D. L. (2009).Financial management, 2nd edn. New Delhi: Pearson Education India.

Wednesday, April 22, 2020

Medicine River By Thomas King Essays - Medicine River,

Medicine River By Thomas King In the novel, Medicine River, Thomas King creates a story of a little community to reflect the whole native nation. A simply return of Will's makes the little town seem to be more colourful. "Medicine River makes non-native readers think a little longer and harder about the lives of the first people they live among and the places they inhabit." As a non-native reader, it is extra difficult to feel and understand the book because we didn't go through all the steps. Although Will starts like a foreigner, he becomes part of the unique community eventually. Medicine River shows the past history of Canada and teaches readers to learn from the past experience in order to become better people. Will is the main character in the novel, Medicine River. The whole story starts with a native photojournalist returns to his reservation for his mother's funeral he discovers the strength of his background. Will does not live in the reserve, Medicine River, because his father is a white person. After 20 years, Will returns. After he opens the photo studio in the reserve, he feels like home again. Doing business and playing basketball makes Will become a member of the little Indian town. The people who help Will the most are Harlen, Louise and Joyce. Harlen is the one who always wants to make Will feel better. The photo studio & basketball team are Harlen's idea. Louise is the true love that Will falls for. When Joyce asks Will to be in the photo, that really impresses Will a lot. Finally, Will finds his career, love and friends in the reserve after 20 years. Harlen is Will's friend and he is a very easy going man. He is always running around helping people to solve the problems. He runs the coach position on team Medicine River Friendship Centre Warriors" after no body wants to do the job. In order to make Will feel home, Harlen forces Will to play some basketball on the team although Will is not a good player. Leadership is the main idea that Harlen is trying to pass to Will. When Louise breaks up with her ex-boyfriend and gets pregnant, Harlen purposely set Louise and Will up. He asks Will to take a good care of Louise and her unborn baby. Harlen also tries to sell Will on the idea of returning to Medicine River to open shop as the only native photographer in the quite, little, mountain town. Louise Heavyman shows the strong, independent and confident sides of a woman. She owns a finance company which is well known in the reserve. Louise is a pretty woman who never gets married. Harlen describes her as, "Good looking woman, Will. Strong hips. You know, for children. Tall, too. Always good to have a tall woman."(P.27) Harlen tries to help Louise by sending Will to have a date with her. However, Louise does not need any help from anyone else. She tells Will about her thoughts, "He was real nice, but I didn't want to get married. I think he thought when I got pregnant that I'd change my mind."(P.34) Louise also reminds Will of his mother, Rose. She raised Will and James by herself and Louise is trying to raise South Wing alone. No matter how strong, independent and confident Louise is, she realizes that she loves Will and she changes herself a lot after being with Will. Eventually, Louise decides to start her new live with Will. Even though Louise is not the main character of the novel, she plays a very important roll. The characteristic of Louise's represents the soul of a modern woman, especially of a modern native woman. In the novel, Medicine River, after a long period of twenty years, Will still goes back to where he belongs. It does not only happen in an Indian town, but pretty much everywhere else in the world. It is because of the native people are too afraid to accept the foreigners. Once the foreigners spend some time there, people will start to accept and understand the foreigners. Medicine River looks like a regular story to me, but I can feel that there is something great behind the story. Unfortunately, I just don't know how to put it in words. It is a good story. Thomas King writes down the book to reflect the whole human nature. In order to improve, we have to encourage ourselves to try and accept new things. All the Canadian should be