Essay on Malcom X Movie and Real Life Comparison - 666 Words

Malcolm X and Spike Lee Pushing the Limits In 1992, director Spike Lee combined his artistic vision with historical events to create the controversial and much hyped film Malcolm X, a biographical and historical account of the slain civil rights leader. Staring as Malcolm X was Denzel Washington who has been noted that this was his best role in a movie to date. As controversial as the flesh and blood Malcolm X was in life, so was the film version of his life as depicted by Lee. Lee made sure to not make the film just based on entertainment purposes as he focused on Malcolm X’s life and achievements by depicting actual events into his movie. Furthermore, Spike Lee tells the story of a not always likable, sometimes reluctant man. He†¦show more content†¦But as the sub-context of his controversial crusade, we also learn as the film unfolds that Malcolm Xs mother, father, uncles, and countless other relatives and friends were direct victims of the hatred and violence of the white majority in America, during a time when the nation was supposed to be free and equal for all. A scene in the movie that best depicted the racism and the violence was the scene outside the Little’s family house, a black family. In this scene the black legion starts to pass around gasoline cans and then flames roar through the room and the Little kids are hysterical. Louise, the wife, rushes in and pushes them past the fire, she has infant in hand covered in a blanket. They barely make it outside when they are confronted by a black legion member who threatens them and tells them to leave the community. In conclusion, what is seen in S pike Lees Malcolm X is a break from the traditional cinema of its time which was a film of historical fact, biography and political commentary with the intended effect of raising social consciousness. Lee pushed the limits and dared to create controversy and shock viewers. Furthermore, Denzel Washington portrayal of a much wounded young boy who evolves into a very powerful speaker and political figure is outstanding and helped shaped the movie into an incredible historical depiction of Malcolm X’s life.Show MoreRelatedBible Versus the Toran12356 Words   |  50 Pages PAGE 20 - 23 VI. THE BIBLE COMPARED TO QURAN PAGE 24-28 VII. FIVE PILLARS OF ISLAM COMPARED TO THE TEN PAGE 29-34 COMMANDMENTS VIII. COMPARING THE LIFE OF TWO AFRO-AMERICANS (1) MALCOM X - ISLAMIC MUSLIM/QURAN PAGE 35-43 8 (2) MARTIN LUTHER KING JR. - CHRISTIAN/BIBLE PAGE 44-48 9 (3) BOTH MENS POLITICAL VIEWS ON VIOLENCE AND PAGE 49-56 Read Morea study on consumer satisfaction towards atm services provided br various banks13347 Words   |  54 Pagesalso made it possible for consumers to travel in a safer manner because they no longer had to carry large amounts of cash with them. Instead, they could access money anywhere in the world with the help of the ATM. Although ATMs made certain aspects of life safer, it did make it easier for counterfeiters and thieves to take advantage of unsuspecting consumers. After all, it only took having the card and a PIN (personal identification number) to access all of somebody’s funds. For this reason, Visa soonRead MoreIntroduction to Large Scale Organizations18988 Words   |  76 Pagesplanned and coordinate way to achieve a common goal or objective Classifying LSO s *Number of employee s exceeds 200 (according to the ABS) *Revenue (gross income) is in the millions of dollars *Total assets or market capitalisation (no. of shares x share value) is over $200 million *Prof it after tax is still in the millions *Extent of operations (multinational or transnational) *Management structure (there must be a clear distinction between the owners and managers) Types of LSO s -Can hail

No Fear Of Gmos Genetically Modified Organisms - 1447 Words

No Fear of GMOs Genetically modified organism, to some people this can be a scary word and other people it doesn’t bother at all. When some think of genetically modified organisms, these crazy images of cross bred plants and animals with extra limbs or odd features come to mind when in reality, genetically modified organisms or GMOs are very normal organisms that are important to society. More recently there has been heated debates over GMOs and how they should be labeled for the public, but that is not the only controversy surrounding them. Genetically modified organisms help increase the economy, are safe products to consume, are able to help struggling nations stay healthy in the future, and do not necessarily need to be labeled. In†¦show more content†¦The debate about required labeling of genetically modified material is just a small portion of an even bigger debate and controversy surrounding genetically modified organisms and materials. With the increased amount of publicity, genetically modified organisms have recently been under harsh scrutiny and criticism. Consumers around the world are concerned whether or not consuming these newly modified organisms have any long term or short term health effects. â€Å"An exhaustive new study by the National Academies of Sciences, Engineering, and Medicine, found â€Å"no substantiated evidence of a difference in risks to human health between current commercially available genetically engineered (GE) crops and conventionally bred crops,†(Hall). This experiment showed that there are no alarming effects for consumers to worry about when consuming genetically modified crops. Genetically modified crops have been consumed for over twenty years now without causing any increase in health problem in the populations that consume them. These products are some of the most tested and safest agriculture products out there today. All of the testing done on genetically modified cro ps and their safety is monitored by the Department of Agriculture, the Environmental Protection Agency(EPA), and the Food and Drug Administration(FDA). Across the board with so many different agencies committed to reviewing testing of GMOs these products and organisms are undoubtedly safeShow MoreRelatedEthical Dilemmas Associated With Gmo, And My Personal Viewpoint1224 Words   |  5 PagesFor thousands of years, genetically modification microorganism has affected many of the products humans eat every day. It began with the tameness of animals. As humans grew into an agricultural company, they start breeding different strains of plants looking to receive the best possible plants for sustenance for people. But as a scientific understanding of breeding and technology grew their methods of altering plants and animals changed. 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Along the way, Fedoroff and co-author Brown use illustrative examples to dispel myths and misunderstandings about genetically modified foods. Even those initially unfamiliar with genetically modified foods will leave with a broad yet solid grasp of these complex biologicalRead MoreGenetically Modified Foods Are Safe For Consumption1588 Words   |  7 PagesGenetically modified foods are present in our daily lives, yet there have been controversies on whether these foods are safe for consumption and whether we should aim to fill our diets with foods which lack these modifications. A fear which the public has concerning these products is that their health may be negatively affected through the consumption of genetically modified foods. These fears can be associated with the fear in the novel Frankenstein, coined as â€Å"Frankenstein-like†, because of theRead MoreThe Issue Of Genetically Modified Organisms Essay1043 Words   |  5 Pages Genetically Modified Organisms, also known as GMOs, is one of the major issues arising in our economy today. GMOs are distinctive organisms in which the genetic material has been altered to improve p roductivity and the quality of the product. Genetically modified organisms have prominent concerns over their apparent beneficial ways in that they’re resistant to disease, help the epidemic of famine, and improve the nutritional value of foods. Having certain foods in your everyday diet isRead MoreIs It Safe And Eat?1445 Words   |  6 Pagesof genetically modified foods.† She specifically cites critic â€Å"Michael Hansen of Consumers Union† and his argument that the â€Å"FDA should require plant breeders† to â€Å"do more† and follow a strict set of guidelines to identify each gene modified and the quantity added by making a complete genetic map and genome sequence. Using her credibility as â€Å"someone familiar with the genomes of plants† and several primary scientific journal articles with valid data to disprove critics of genetically modified foodsRead MoreGenetically Modified Organisms The Root Of All Evil1180 Words   |  5 Pages Are genetically modified organisms the root of all evil in the nutrition of our society? Essentially, not at all, GMOS are modified to enhance the original organism by manipulating the genetic code to produce a different outcome. 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Although this has been seen as a great advantage by many scientists and supporters of this technology, transgenic organisms suppose a danger

Baroque Architecture Free Essays

Baroque Architecture Works of famous architects and sculptors What is Baroque Architecture? A Style originating in late 16th Century Italy Consists of complex Architectural plan shapes, often based on the oval. Dynamic opposition and inter penetration of spaces were favored to highlighted the feeling of motion and sensuality. Other characteristic qualities include:- Grandeur – Drama and Contrast – Courageousness – Twisting elements – Gilded statuary He was the son of a stonemason and began his career as a stonemason himself. We will write a custom essay sample on Baroque Architecture or any similar topic only for you Order Now He soon went dominant study and practice his craft. He moved torment 1619 and started working for Carlo Modern, Bromine’s real name was Francesco Castillo. Once he had become established in Rome, he changed his name from Castles’ to Bromine, He worked within Lorenz Bernardino the design of the fundamentalist’s. Peter Basilica , the two later became bitter rivals. Francesco Borrowings the master of curved-wall architecture. He was influenced by the architecture of Michelangelo and the ruins of Antiquity. His architecture employs manipulations of Classical architectural forms, geometrical sensational with symbolic meanings behind his buildings. Ђ Classical architectural forms, geometrical rationales in his plans and symbolic meanings in his buildings. Famous works of Bromine Architecture San Cairo alley Squatter Fontanne Sandal’s all Seaplane, 1660 Colleges did Propaganda Fide Santiago SE in Agony The Sandal’s all Oratory Sapience and Palazzo die Filipino Assonant area dell Fretter Barbering San Ca rlo alley Equator Fontanne Falconer Spade San Giovanni in Lateran San Cairo alley Squatter Fontanne Bromine’s first independent commission This tiny church, along with its Rudyard, is one of the most important monuments of the baroque style in Rome. How to cite Baroque Architecture, Papers

Fanny and Hesse Early Contributors to Microbiology free essay sample

Walther Hesse, a descendent of a Saxon family from Bischofswerda, was born on 27 December 1846 as the third of 12 children of Friedrich Wilhelm Hesse, the Bezirksarzt, or county physician, of Zittau. Friedrich Wilhelm was the first university-educated physician in the family and had received his doctor of medicine degree from the University of Leipzig in 1842. Two of his forefathers were surgeons, one a military surgeon during the Napoleonic wars and the other a graduate of the Surgico-Medical Academy of Dresden. Hesse’s mother came from a cloth-weaving family that owned several looms. Two of the 12 children died in infancy; five sons and five daughters survived. Four of the sons became physicians, and the daughters were sent to a teacher’s college to make them independent. Walther’s older brother Richard became a successful practicing physician in Brooklyn, N. Y. Walther’s younger brother, Friedrich Louis, went to America on a visit, became very impressed by the Wolfgang Hesse, a retired internist from Karlsruhe, Germany, wrote this biography of his grandparents. Dieter Grlischel, a professor of pathology and internal medicine at the Department ofPathology, University of Virginia School of Medicine, Charlottesville, edited and translated the work. VOL. 58, NO. 8, 1992 advanced state of U. S. dentistry, and stayed for 3 years of advanced training. He founded the first university chair of dentistry in Germany, at Leipzig. Brother Georg became a surgeon and the director of a private surgical hospital in Dresden. Walther received his secondary education in Dresden, where he attended the famous Kreuzschule, a Gymnasium (high school) whose choir ,was founded in 1216. In 1866 he began the study of medicine at the University of Leipzig and received his doctorate in March 1870 after having publicly defended his thesis on the reaction of the epithelium to acute catarrh of the intestinal tract. In 1867, he volunteered for a l-year reserve-officer course with the army. As a Feldassistenzarzt (second lieutenant of the medical corps) in the Saxon army, he participated in the France-Prussian War from 1870 to 1871 and in the battles of Gravelotte and St. Privat. Right after the war, at age 25, Walther wrote a paper on the situation of military physicians that addressed the combatant status of front troop surgeons and proposed a new position for them. He also criticized the food and water supply system, the shortage of medical personnel, and the absence. of transport and field stations for the wounded and offered some advice about effective first aid. This paper-never published-is the first of his postgraduate professional . manuscripts. It not only demonstrates his concept of the physician as a socially engaged altrui. st but also signals the direction of his future professional life. The remainder of his active military service (until 1873) was spent as a staff physician -of the private insane asylum run by Dr. Lehmann in Pirna near Dresden. During this period Hesse also served as a ship surgeon of a German passenger liner on two 425 ’ Features round-trips to New York (November 1872 to February 1873). Upon his return, he published a paper about sea sickness that Professor Gavingel from Le Havre called the first rational, scientific publication on the subject. At home, he was recognized by the medical society of Zittau for his interesting observations and contributions. The trichinosis he had acquired during his travels healed without residual problems. ) The Eilshemius Family While Walther visited New York, his brother Richard apparently introduced him to the Eilshemius family, including Fanny Angelina, whom he soon married. Fanny Angelina was born on 22 June 1850 in New York, the daughter of an import merchant, Henry (Hinrich) Gottfried Eilshemius, and hi s wife, Cecile Elise. The Eilshemius family was of Dutch descent and originated near Emden, Frisia. Hinrich Gottfried, Fanny Angelina’s father, emigrated to the United States in 1842 at age 24. He first settled in Hoboken, N. J. , and in 1849 married Cecile Elise Robert, who came from a French-Swiss family in Lugano. They had 10 children; 5 died in their early years, and Fanny Angelina was the oldest. Hinrich, now Henry, was a successful importer of goods and was Lina able to retire in his forties. In 1860 he bought a 70. acre property, Laurel Hill Manor in North Arlington, N. J. , near Kearny on the Passaic River. Here Fanny Angelina and her siblings grew up, and the girls learned from their mother and the servants the basics of housekeeping and cooking. When Angelina was 15, her parents sent her to a finishing school in Switzerland to study home economics and French. After the Civil War it was common for rich Americans to spend the summer in Europe. In 1872, the Eilshemius family visited Switzerland, and Fanny Angelina and her sister, Eugenie, went on to Germany and to Dresden, where they met again with Walther Hesse. Dresden, the capital of Saxony, was a major attraction with its buildings, museums, galleries, and opera and was called Florence on the Elbe River. In the next summer, Walther Hesse and Angelina Eilshemius were engaged, and the wedding took place in Geneva on 16 May 1874. Walther and Angelina Hesse in Saxony more recently, infamously known because of the bad working conditions in the uranium mines of the former Germ. an Democratic Repubiic. He spent more than 10 years there and was responsible for 83 villages. He visited these villages regularly by horse and bum-Y and occasionally also on foot. His main responsibility was the care of sick miners who suffered from Bergkrankheit (mountain disease), later recognized as lung cancer and also known as Schneeberger Lungenkrebs (lung cancer of Schneeberg). After some preliminary studies, Walther published a comprehensive, widely accepted paper about this malignant miners’ disease. Arsenic was considered the cause of the cancer at that time, as radioactive substances like uranium and radium had not been discovered yet. Minerals from the nearby St. Joachimtal/Jachymov mines later became the source of Marie Curie’s radium. Aside from the medical problems of the miners, Walther also concerned himself with the miserable working conditions in the mines and the substandard housing of the miners. He made numerous recommendations to the government to improve the miners’ conditions, including the protection of the very young workers, as child labor was common at that time. Again his findings were published in a number of articles Hesse To increase his ‘knowledge of environmental hypgiene, Walther went to Munich to study with the first chairman of a university department of hygiene, Max von Pettenkofer, in 1878 to-1879. With this experience, Walther worked for many years on the hygienic and public health aspects of the human environment and- published numerous articles. His primary interest was air quality, especially carbon dioxide content and dust contamination. The experiences in the mining villages turned his attention to the hygiene of habitations and schools, an interest that remained with him to his old age. His responsibility for mandatory smallpox vaccinations reflects his first professional dealings in the topic of microbiology. Bacteriological Studies with Robert Koch Walther Hesse practiced medicine in Zittau, where their first son (the author’s father, Friedrich Henry, later a surgeon in Dresden) was born in 1875. In 1877 Walther was appointed Bezirksarzt (county physician) in Schwarzenberg im Erzgebirge (mountains between Saxony and Czechoslovakia), a major mining area and, 426 Bacteriology initially interested Walther mainly because of its possible contribution to his environmental studies. In 1881 and 1882 he left his post as county physician to spend a sabbatical in Robert Koch’s Kaiserliches Gesundheitsamt (Imperial Health Agency). There Walther conducted elaborate experiments on the microbial contamination of air, completing a long report in which he demonstrated his dedication to detailed work and patience. This research experience also broadened his abilities in environmental hygiene, and he continued to contribute to the developing medASM News Features ical field of hygiene, using the newly acquired skills in bacteriology. To the studies of air quality, Walther added bacteriological examinations of drinking water, swimming pools, and treated wastewater. He made major contributions to the methods for quantitative bacteriological water testing. As his knowledge in the new field of bacteriology increased, he studied bacterial metabolism and described several technical innovations, among others an anaerobe culture technique. Outbreaks of communicable diseases, such as diphtheria, typhoid, bacillary dysentery, and cholera, in the Dresden area challenged him as a public health physician and bacteriologist to study the diseases in his laboratory. His contributions to the laboratory diagnosis of tuberculosis were recognized nationally (e. g. , by Lydia Rabinowitsch) and internationally (by Theobald Smith) and were based on a new culture medium he had developed. both Schwarzenberg and Dresden had temperatures that caused liquefaction of gelatin, the solid culture medium used to coat glass tubes used for the studies. Furthermore, gelatin-liquefying bacteria often destroyed the cultures. One day the frustrated scientist asked Lina why her jellies and puddings stayed solid at these temperatures. She told him about agar-agar. . Agar-agar had been known as a gelling agent in warm climates. For example, East Indian swallows use agar for making their nests-the bird’s nests of the famous Chinese soup. Lina had learned about this material as a youngster in New York from a Dutch neighbor who had immigrated from Java. The practical application of this kitchen secret was to bring major recognition to the Hesses, more today than during their lifetime. It contributed to Walther’s success with his air studies, and it was an essential contribution to the development of modern bacteriology. The thermal stability of agar, its resistance to microbial enzymes, and the ability to sterilize the medium and store it for a long time Lina Hesse as Technician and permitted long-term cultures, espeIllustrator cially important in tuberculosis research and diagnosis. Walther’s wife, called Lina in the Walther reported this finding to family, was his major supporter in Robert Koch, who immediately inmany different projects. Aside from cluded the new medium in his studies her duties in the house and in the of the tubercle bacillus. Although education of three sons, she became Koch mentioned agar-agar in a short well acquainted with Walther’s scienWalther Hesse sentence in his 1882 preliminary note tific work and assisted him like a on the tubercle bacillus, he did so without giving credit present-day medical technologist. The profession was to the source. Walther soon developed a tuberculosis not then known. However, this period ushered in many nutrient agar with the firm of Heyden, Radebeul, that changes for women in Germany, and they were just permitted him to observe growth on solid agar plates starting to step out of the domestic environment into as soon as 2 to 3 days after inoculation. professional life. In the Hesse family, this contribution to bacteriolWorking with her husband, Lina soon played a ogy was hardly ever mentioned. Lina never spoke major part in the magnificent development of medical about it, probably because she was a very unassuming illustration. She was not the only talented artist of the person. She kept all of Walther’s papers and docufamily. Her grandfather was the-Swiss painter Leopold ments out of love and respect for her husband and as Robert, and her younger brother, Louis Eilshemius, part of her own contributions to his work. The Hesses achieved some fame as a New York painter. She used never received any financial rewards for their â€Å"invenher talent to prepare drawings of microscopic preparation,† nor did they ever consider exploiting the matter tions for her husband’s publications. The last publicacommercially. It would not have been â€Å"proper. † tion of Walther Hesse from 1908 described a quantitative method for the culture of intestinal bacteria with special attention to stools from typhoid fever patients. Walther Hesse and Public Health Lina drew pictures of the magnified colonies on agar In 1899 Walther went on a tour of northern Gerplates during different growth phases and colored many, England, and the United States to study public them with watercolors in a highly accurate way, i. ndihealth installations. In Hamburg and Bremen he viseating her thorough un. derstanding of bacteriology and . ited the waterworks and industrial and municipal microscopy. (The author is proud to possess his grandsewage treatment plants and discussed special quesmother’s original drawings. ) tions of domestic and industrial wastewaters. On 2 September he departed by ship to New York, where he The Introduction of Agar-Agar visited several bacteriological institutes in the Parker Hospital and in the laboratories of the College of Walther had major technical problems attempting Physicians and Surgeons. He also inspected the new to analyze microbial counts in air. In the summertime, VOL. 58, NO. 8,1992 427 Features water reservoir behind the Croton dam along with the aqueducts, comparing the project with the construction of the pyramids or the Tower of Babel. He was similarly impressed by the water filtration system of Lawrence, Mass. In Waltham, Mass. , near Boston, he met the physician Alfred Worcester, whose establishment of a school for nurses and introduction of Pfund’s infant formula he particularly praised. He liked the city of Philadelphia, Pa. and its Fairmont Park, and in Washington, D. C. , â€Å"one of the most beautiful cities I have seen,† he saw a small military hospital and the new experimental drinking water station with its gigantic reservoir. He commented on the tremendous water usage in the United States! In U. S. and English cities he reviewed the incidence and therapy of tuberculosis, typhoid, and diphtheria; looked at school systems; and inquired about dairy cattle, the milk supply, and sewage treatment. Walther was always very interested in the hygienic aspects of milk, mainly for controlling infant mortality. After the mothers had been saved by Semmelweis, it was time to look at the survival of their offspring and their nutritional development. The major problem was milk-borne intestinal infections. In 1900 Walther saw a publication by Theobald Smith from Boston concerning the pasteurization of milk and the possible control of tuberculosis and other infectious diseases. Upon Smith’s request Walther experimentally confirmed his findings and became one of the prime advocates of milk pasteurization in Germany. He convinced the Dresden dairy of Pfund Bros. o pasteurize their entire daily milk volume of about 15,000 liters by heating for 20 minutes at 60 °C. This collaboration with the Pfund dairy, a company with many stores in the city of Dresden, brought Walther’s grandchildren, even after his death, some advantage. During the time of starvation at the end of the first world war, they were provided with the rare commodity of milk in memory of the great services and efforts of their grandfather. In 1890 Walther moved to Dresden as the Bezirksarzt for the county around the city of Dresden. He purchased a house in Strehlen, a suburb of Dresden, where he lived until his death in 1911. Until he was given a laboratory building by the Chemistry Departement of the Technical University, he worked at home, and many of his publications were written in this house. He was honored by the government by being appointed Geheimer Medizinalrat (privy medical councilor). After his death, the laboratory at the university was burned because the virulent bacterial cultures, including plague bacilli, were â€Å"a danger to public health. † Walther left a large collection of minerals, collected during his many visits to mines. The author inherited the collection and donated it later to his high school. Frau Hesse ifi Dresden Lina survived her husband by 23 years. At first she stayed in the house in Strehlen, but in 1917 she sold it and moved into town to be closer to her children. Her American heritage was evident; she never lost her American accent, counted in English, and often used English expressions and commands. When her family home in New Jersey was sold, her part of the inheritance was kept as enemy property during World War I, and only many years later did she receive small sums of money that helped to enhance her small pension as the widow of a civil servant. She died on 1 December 1934. Since Dresden was completely destroyed by Allied air raids in early 1945, many of the mementos of the Hesse family were lost. However, letters, documents, and personal memories were collected from members of the family and added to my collection of Walther’s personal reprints held by my grandmother. All that plus my personal memories assisted greatly in the preparation of this review of Walther and Lina Hesse’s contributions to public health and microbiolEl WYTranslator’s Acknowledgment I am grateful to Wolfgang Hesse for allowing me to translate and edit this brief biography of his grandparents. A full and. verified list of Walther’s publications is available. Thanks are due to the staff of the University of Virginia Claude Moore Health Sciences Library, especially Joan Echtenkamp Klein. Suggested Reading Bibel, D. J. 1985. William Bulloch’s pioneer women of microbiology. ASM News X:328-333. Gildemeister, E. 1929. Allgemeine, besondere und differentialdiagnostische Nahrbiiden, einschleil3lich Trocken- und Konservennahrboden. In W. Kolle, R. Kraus, and P. Uhlenhut (ed. ), W. Kolle und A. . Wassermann’s Handbuch der pathogenen Mikroorganismen, 3rd ed. , vol. 9, p. 965. G. Fischer, Jena, Germany. Griischel, D. H. M. 1981. 100 years of agar use in microbiology. ASM News 47:39X592. Hitchens, A. P. , and M. C. Leikind. 1939. The introduction of agaragar into bacteriology. J. Bacterial. 37:485493. von Gierke, E. 1935. Zur Einfuhrung des Agar-Agars in die bakteriologische Technik. Ein Gedenkwort fur eine deutsche Arztfrau. Zentralbl. Bakteriol. Orig. 1 133:273. . 428 ASM News

Three Concepts of Hinduism Tradition

Atman Hindus have a strong belief system in the existence of Atman who is invisible, external, immortal. The latter cannot be grasped at all. In simple terms, the term Atman means breath of life. This concept can also be referred to as the state of being â€Å"self† since it refers to the remains of an individual after all the external components have been taken away.Advertising We will write a custom essay sample on Three Concepts of Hinduism Tradition specifically for you for only $16.05 $11/page Learn More This means that Atman is a key aspect in the life or soul of a man which controls breath, intellect and overall well being. Moreover, Atman gets into the body of an individual during the creation process. It is believed that it exists in living beings including animals and plants (Molloy 321). Dharma Dharma refers to the righteousness path or the â€Å"law of human beings† that helps in the process of binding people together in the wor ld. This concept is essential among Hindus. Individuals are able to achieve good outcomes just by being able to fulfill the requirements of Dharma. This concept is related to a course of conduct or duty that an individual has to undertake. There are several life stages, spiritual and moral developments that an individual has to go through. The concept mainly involves the ability of an individual to do the right thing both in the family and beyond the universe (Molloy 322). Karma The literal meaning of Karma is deed or action. A broader definition of Karma is â€Å"action and reaction† or the law that relates causes and effects. These include the physical actions and the actions conducted through the mind of an individual (Molloy 322). Prominent deities in Hinduism The three most prominent deities in Hinduism are Brahma, Vishnu and Shiva. These gods represent the universe creator, universe preserver and the god of reproduction and destruction respectively. Additionally, these deities are married to Saraswati, Laxmi and Parvati respectively. Important concepts in Jainism Jiva and Ajiva Jiva (soul) and Ajiva (non-soul) are the foundation of the seven concepts of Jainism. Furthermore, these concepts are regarded as the basis of five magnitudes and six substances in the tradition of Jainism (Molloy 411).Advertising Looking for essay on religion theology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Bandha This refers to the actual soul by Karmic matter. The physical condition that facilitates this process is known as Bhava-Bandha. The actual interaction of the karmic matter with other particles is commonly known as Dravya-Bandha. This bondage appears in four different ways depending on the nature of karmic matter, the period of attachment and the quantity of karmic atoms (Molloy 412). Nirjara This concept refers to the fall of karmic matter away from the soul. During this process, the fetters disappear gradually u ntil the soul is left free. Four Noble truths in Classical Buddhism The first truth in classical Buddhism relates to the avoidance of suffering. This involves rightful living with regard to beliefs, actions, meditation, speech and feelings. The second truth is based on avoidance of suffering through elimination of desires. This provides a peaceful and calm existence. The third truth is that life involves a lot of suffering. The final truth asserts that individuals usually suffer because of failing to get what they want (Molloy 455). Concept of impermanence The impermanence concept in classical Buddhism is temporal. The concept simply means that all the constructed items are impermanent. It is important because all the constructed things are termed as impermanent. â€Å"Emptiness† in Buddhist tradition The term emptiness is used to mean that all properties cannot have an intrinsic value since they are relational. If the latter happens, there is no being that has value. The mai n function of the KOAN in Zen tradition was to undertake religious training.Advertising We will write a custom essay sample on Three Concepts of Hinduism Tradition specifically for you for only $16.05 $11/page Learn More The concept of compassion in Tibetan tradition means helping others and avoiding harm. This means that the actions of an individual should be non violent and less harmful. I was particularly surprised by the roles of some prominent deities in Hinduism. Specifically, I was amazed by the destruction of Shiver. I would like to learn more about the functions of KOAN in Zen tradition. Works Cited Molloy, Michael. Experiencing the World’s Religions: Tradition, Challenge, and Change. New York: McGraw-Hill Higher Education, 2009. Print. This essay on Three Concepts of Hinduism Tradition was written and submitted by user Gauge Burks to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Judging a Politicians Worth by Sex essays

Judging a Politicians Worth by Sex essays Is it fair to measure a politicians public worth by his/her sexual behavior? This a question which has been brought before me and requires an answer, or a position on which I stand, fair or unfair? Well, I think it is fair. After a two-year scandal involving President Bill Clinton and his sexual escapades with different women besides his wife, I cant help but see a direct comparison in this question. Using President Clinton works as an excellent example as to why I take the position I do. For obvious reasons a politicians public worth should not only be measured by his/her sexual behavior, but this should be an important consideration. Every time a new president is elected they are sworn in, they raise their right hand and swear to approximately 272 million people to uphold certain duties as president. Each time a president neglects to uphold one of these duties or if he/she is found to be committing a crime, a process is followed to decide whether or not the president should be impeached. If the act is found to be minor or not an impeachable offense, business continues as usual, but the dignity or public worth of this individual has to be questioned by the public, because as the employers of these pol iticians it is our duty. Now even though it might not seem relevant to use the president, or any politician being sworn in as a valid example, in comparison to marriage vows, I think it is valuable. Along with marriage comes a word called fidelity, this is usually touched upon at the ceremony or even before, this means to be faithful and loyal. When a person such as President Bill Clinton, or any politician professes his/her love and fidelity to his/her life partner, which is only one person, then without any regret, completely disregards those promises. How can a politician like this make a promise or swear to uphold certain duties to approximately 272 ...

Strategic Management Case Study Example | Topics and Well Written Essays - 2250 words - 1

Strategic Management - Case Study Example The marketing projection is done by taking into consideration the entire products of Fujifilm and its market growth in the past years. The operational estimation is conducted by considering the set marketing plan. The outer and inner environment of the company and the competitors’ strength, as well as weakness, facilitates to estimate the operational prediction. The financial analysis is done by examining the marketing and operations of the company and their performance along with income statement of the previous years. The paper also covers the process of implementation of major objectives in order to achieve success. Finally, the paper is completed with a brief conclusion. The sales projection relates to the estimation of potential sales of a company at a certain time period. The sales projection of Fujifilm’s products and services can be prepared for the coming five years. The marketing projection of Fujifilm for successive five years from the present scenario is based on several factors. There may be external or internal factors that affect sales projection (Sane Jose State University, â€Å"Process for Sales Projection†). The marketing and sales of the product of Fujifilm have helped to increase its market share and proper planning will enhance its growth in the coming years. The various factors that are responsible for Fujifilm’s future projection are seasonability aspect prevalent in business, comparative situation of the economy, fashions of new products, changing population and productivity, income of consumer, present market share, innovative product lines, inventory shortage, recent trend in sales and price changes among others (Sane Jose State University, â€Å"Process for Sales Projection†). The various marketing products of Fujifilm are ‘electronics products’, ‘highly functional materials’, ‘medical imaging’, ‘life science’, ‘graphic arts’, ‘optical devices’ and ‘documents’. These products are expanding globally and are in huge demand in the market. To maintain its demand in future, the company needs to develop various marketing techniques. The market share of LCD FUJITAC in a global market is 80% and for WV film it acquires 100%.

Interpersonal communication paper Assignment Example | Topics and Well Written Essays - 2750 words

Interpersonal communication paper - Assignment Example This makes the process difficult and complicated no matter how simple it appears to someone who is looking at a situation. Many conflicts arise during communications and the resolution or its becoming worse all depend on how the players act and react during the process. With the simplicity of communication that usually brings people in various complicated situations, many scholars are getting interested to the study of communication and propose concepts about the subject matter, supplement the information with suggestions on understanding and improving verbal and non-verbal communication to improve relationships. For instance, one of the foci of studies is the communication between husband and wife, which is very relevant to today’s world because of the seemingly dying image of marriages which are even more magnified with the news of celebrities marrying today and getting divorced tomorrow. However, saving marriages is not just the only reason for the intensive researches performed and being performed for further studies but also looks into other relationships like employers to their employees, businessmen to their customers, doctors to patients and the list goes on. The point is, communication does not just affect the rich, famous or a chos en few but largely impacts all ages regardless of sex and status and the effect could either be damaging or constructive and no one would like the former. Instead, everyone would like the constructive effect of communication that is why studies are given priority on communication to find what seems to be a secret only a few are able to find. With the rise in the number of researches, people are coming to a better understanding of the process and indeed, knowledge could become a powerful tool to a person if it is used wisely. A lot of people are now encouraged to work further on their communication skills and are trying their best to purposefully make the process a good experience

A South African Investment Paper Essay Example | Topics and Well Written Essays - 1000 words

A South African Investment Paper - Essay Example The value of Caltex tripled in the subsequent eight years. During its operations in South Africa, it faced three major resolutions by a section of its stockholders, to whom the issue concerned were rights and justice for non-white community in South Africa. The resolution ranged from closing operations in South Africa to making positive contribution to the economic and social uplifting of the Apartheid affected society in the country through four Tutu’s principles. Although, the resolutions were never passed but presented Caltex and other foreign multinational companies with challenges of adhering to the South African laws, provide returns to the stockholders and contribute to the society. This essay discusses the challenges faced by the non-white community and the multinational companies in South Africa, if a better decision could have been made by Texaco and SoCal with respect to the Apartheid affected society. II. Benefits or Violation of Moral Rights and Justice When Texac o and SoCal entered the South African market through a joint venture Caltex, being for-profit organizations, their motive in South Africa was profit-making. However, the question arises whether the utilitarian benefits of operations in South Africa should have been derived at the cost of violation of moral justice and rights of society. There are certain principles which guide the ethical decision making. The long-term self-interest principle prohibits action which may not be in the long-term interest of the organization. The principle of utilitarian benefits asserts that an action should never be taken, if it does not transform into greater good for society. The principle of government obligations states that an action should not be taken if it violates the applicable law. The law here represents moral standards of society (Williams, 2006, pp.110-111). These principles, as can be seen, contradict in the situation of South Africa. Caltex, as a steward of society, is responsible for the greater good of its stakeholders i.e. shareholders, employees, suppliers, customers and society as a whole. The appropriate action, which Caltex could have taken, is to refrain from building the plant until the South African Government has made amendments in its policies towards the non-white community which formed a major section of the company’s workforce. The reason is, even if the company remains operational in the conflicting situation, the profits will eventually diminish as they cannot sustain in the long run. III. Response to the Resolutions The first resolution in 1977 demanded Texaco and SoCal to terminate their operations as quickly as possible until and unless the South African Government ends its apartheid policies and takes steps towards full legal, political and social rights for the majority population. The vote of a stockholder ought to have been in favor of this resolution, because the government policies are likely to affect the profitability of the com panies in the long run from their operations in the country. The increasing unrest, if prudently analyzed, will affect the profitability of Caltex. The second resolution in 1983 demanded Caltex to stop selling petroleum products to the military or police of South Africa. As a stockholder, the vote should have been in favor of the resolution even if it demands an outright violation of National Supplies Procurement Act, recently enacted and Price Control Act, 1964. The

Problems Facing Campagnie Du Froid Economics Essay

Problems Facing Campagnie Du Froid Economics Essay The aim of this report is to analyse the problems faces by Jacques Trumen, the CEO of Campagnie du Froid S.A., by reviewing the performance of the 3 regional managers. The report is based on the financial analysis and the evaluation of the facts and figures provided in the case study. This report ends with recommendations for a fair compensation system. In this case, Jacques has to evaluate the performance of the 3 regional businesses in France, Italy and Spain and decide regarding the compensation of the managers according to that. Until recently, he was giving the bonus of 2% of the corporate profit to each one of the managers. However, in 2009 the performance of Spain region was very poor and had affected the overall profit of the company. This has forced Jacques to rethink about the fairness of the evaluation system. The report answers Jacques problem in deciding the strategic changes in the compensation system by evaluating the performance of each region. The Italian Region Taking into consideration all the facts and figures in the case study given, it can be said that Peirre Giraux, the regional manager of Italy, performed good in 2009. He could get 12.6% more profit than was estimated the profit plan. The negative variance of his cost of goods sold (COGS) is expected as he has increased the sales volume. The COGS increased at a lower rate in comparison to the sales which resulted in a positive variance in his contribution margin which increased by 1.65% higher than the budgeted figure. His performance is admirable because although the production is ice cream increased, he could reduce other costs like supervision, electricity, and maintenance by 7.000 Euros, this result in increasing the operating margin by 2.45%. The overall SA expense variance is unfavourable but some of it is contributed due to the increase in sales volume. Pierre needs to have a better control on some costs like the administrative salaries and expenses as it should not have increased by the current rate. The selling expenses increased by close to 10% whereas total sales grew by only 1.2%. he is not accountable for the unfavourable variance in the allocated central office expenses as it is the same for all regions and it is fixed by the companys central office. The overall outcome of Pierre performance was good. The Ice Cream Transfer After analysing Exhibit 5, it is clear that Jean, the manger of the French region, has considered COGS, other costs, depreciation and SA expenses with a profit margin of 5% for calculating the selling price of the ice cream. Adding COGS and other costs was fair on Jeans part as these are variable costs and are bound to increase with the increase in production. Jean added 0.04 Euros per litre under SA expenses which corresponds to allocated central office expenses. It is unjustified to add it because this cost is fixed by the companys central office and is equally incurred by all the divisions. In addition, Jean could have added the depreciation cost because it would have remained the same even if Spain had not imported ice cream from French region. By adding the depreciation cost to the cost of ice cream transferred, Jeans depreciation cost went down and his profit was increased considerably. So this way worked somewhat in favour of the French region. France benefited from it by incr easing sales volume at a lower fixed cost (depreciation and central office expense added to the selling price) and Spain enjoyed the advantage by satisfying its volume deficit at a cost lower than its own selling price in the Spanish market even after a price cut. That is why it can be said that the ice cream transfer was a win-win situation for Spain and France regions. The Spanish Region 2009 was a problematic year for the Spanish region for many reasons. The following points specify the main 3 factors that worked against Spain and how much did it cost Andres. 1- Too low temperature: according exhibit 6, for the first time Spain had encountered such low temperature in the last 7 years. Last time the temperature had gone below 28 C, Spain had experienced only 3.5% volume growth. Moreover, in 2001, when Spain had experienced 28 C, the volume growth rate had dropped down -2.1%. If we follow Jacques thumb rule, then predicted volume growth should be only 4.9% instead of the planned 10%. However, it was better than that as it comes out to be 6.8% (see table 1). So it can be said that Andres performed well against the natures odds by maintaining a higher volume growth than that predicted by Jacques thumb rule. Table 1 (The Spanish Region) Expected sales for 2009 4.094 Proposed increase 10% Sales for 2008 *3.722 Actual sales for 2009 3.975 Rise in 2009 253 % Rise in 2009 6.80% * Sales for 2008= expected sales for 2009/ (1+propesed % increase) 2- Machinery problem: Spanish division faced the machinery problem. Due to which, it had to import ice cream from France at a higher variable cost. Andres also had to swallow the surplus cost of supervision, energy, and maintenance due to the continuous repair and adjustment work in the machines. This increased his cost of production by 21.000 Euros which normally should have gone down because of lower production in his manufacturing unit. 3- Price cut by competitor: the problem for Spain did not stop here. Due to price reduction by competitor, the company had to cut its price by 1.5% and lost some of sales revenue in this process. But, Andress decision to import ice cream from France came out to be fruitful as he was able to satisfy its volume deficit. In spite of the fact that he had to buy ice cream at a higher variable cost, but still it was cheaper than his own selling price (after price cut). This contributed 178.000 Euros to his profit (see table 2). Table 2 (The Spanish Division) Per unit cost Total in 000 Euros Notes Cost charged by France 3.53 2.126 Subcontracted transportation *0.13 77 Incurred due to import from France Delivery expenses **0.19 115 These are not completely fixed costs and depend on sales volume. Higher the sales higher the expense Selling expenses ***0.20 119 These are not completely fixed costs and depend on sales volume. Higher the sales higher the expense Total cost 4.05 2.437 Selling price 4.34 2.616 Profit 0.29 178 *subcontracted transportation cost per unit = total subcontracted transportation cost / total volume transferred **delivery expense per unit = actual delivery expense / actual volume *** selling expense per unit = actual selling expense / actual volume Overall, it can be said that due to few unavoidable circumstances, Andres had to face losses which ruined the performance of his division. The French Region France seems to be the best performer but by a close look at exhibit 2, it is evident that Jeans performance was poor because of 3 major reasons. First, Jean employed a major workforce on an hourly basis to supervise the production and maintain the machines. This increased the supervision, energy, and maintenance costs by 118.000 Euros which reduced his operating margin significantly. Secondly, Jean added the depreciation and central office expenses to his selling price for ice cream transfer to Spain. This is unjustified as these expenses are fixed costs and would have remained the same even if Spain had not imported from France. However, including these expenses worked well for Jean as his fixed costs was distributed by a higher sales volume and increased his profit by 79.000 Euros (Depreciation + SA, from exhibit 5). Thirdly, it should not be forgotten that 603.000 litres of his sales volume came from transferring ice cream to Spain and 79.000 Euros of sales revenue from distribut ion business. Therefore, his actual total sales revenue from the companys core business was only 21.256.000 Euros (from exhibit 2). This is 1.36% less than the estimated sales revenue in the profit plan, and that is why Jean was not able to meet his projected target. In addition, if we remove the profit earned from export i.e. 180.000 Euros and distribution business 29.000 Euros, then his actual profit comes down to 1.033.000 Euros which is just 0.58% above budget (see table 3). However, Jeans decision to invest in distribution business was profitable to the company because he increased the revenue by 79.000 Euros. Assuming that the negative variance of 3.000 Euros as truck depreciation and 47.000 Euros as delivery expenses is due to the new business yet Jean managed to account a profit of 29.000 Euros in the first year itself. Table 3 (The French Region) Estimated profit in 2009 1.027 Total actual profit in 2009 1.242 Profit from ice cream export *180 Profit from distribution export **29 Profit from ice cream business excluding export and distribution 1.033 Profit above estimated 6 % profit above estimated 0.58% *profit from ice cream transfer = total actual profit **profit from distribution export = revenue from distribution (variance in delivery expense + variance in depreciation of trucks). Conclusion and Recommendations After investigating the case, it is evident that Andres can not be blamed totally for the depressing performance of Spain. Spain suffered from multiple bad circumstances in 2009, and Andres applied every trick to overcome it. In spite of Jeans decision of the distribution business was profitable to the company but his overall performance was below the expectations. Consequently, Pierre comes out to be the best performer out of the 3 regional managers. So, it is significant to keep certain factors in mind when deciding the compensation of a manager. In order to keep employees motivated to perform better, their compensation bonus should be directly linked to their own divisions profit. Jacques should decide a ratio of percentage of corporate and regional profits depending on his companys budget for bonus. For example, he should give 1% of corporate profits plus 3% of regional profits. In this way even if the companys overall profit went down due to poor performance of a particular regi on, a mangers bonus would be affected only by the percentage allocated to corporate profit. He can still enjoy the percentage of his divisions profit which is normally should have performed well. Another factor to determine the compensation would be the companys strategic goals and managers performance in achieving these goals. In order to motivate employees to exceed the expected revenues in profit plan, Jacques should give a higher percentage of the value by which the manager surpasses the expected profit. This would keep the manager motivated in undertaking the challenging opportunities to contribute to the companys growth.

Crime Essay -- essays research papers

Crime In general the definition of a crime is an act punishable by law, usually considered an evil act. Crime refers to many types of misconduct forbidden by law. Crimes include such things as murder, stealing a car, resisting arrest, possession or dealing of illegal drugs, being nude in public , drunk driving, and bank robbery. Crime is an act that has been timeless and has been committed practically since the start of time. For example, ever since Cain killed his brother Abel (B.C.), people being charged with witchcraft in the 1600’s, prostitution, to the current crimes of modern day(A.D.). Even though crime has existed throughout time it has progressed and branched out taking many types forms. Crimes are classified in different ways. They are usually grouped according to the seriousness of the offense and according to the motives of the offenders. Such crimes may include economic crimes, political crimes, crimes of passion and organized crime. Crimes are often divided between acts that most people would consider evil and acts that lawmakers decide should be regulated in the interest of the community. The first group includes such major crimes as arson, assault, breach of the peace, burglary, kidnapping, larceny, murder, rape, and robbery. The second group includes crimes of a "rapidly growing urban society." These crimes include violations of income tax laws, liquor control regulations, pure food an... Crime Essay -- essays research papers Crime In general the definition of a crime is an act punishable by law, usually considered an evil act. Crime refers to many types of misconduct forbidden by law. Crimes include such things as murder, stealing a car, resisting arrest, possession or dealing of illegal drugs, being nude in public , drunk driving, and bank robbery. Crime is an act that has been timeless and has been committed practically since the start of time. For example, ever since Cain killed his brother Abel (B.C.), people being charged with witchcraft in the 1600’s, prostitution, to the current crimes of modern day(A.D.). Even though crime has existed throughout time it has progressed and branched out taking many types forms. Crimes are classified in different ways. They are usually grouped according to the seriousness of the offense and according to the motives of the offenders. Such crimes may include economic crimes, political crimes, crimes of passion and organized crime. Crimes are often divided between acts that most people would consider evil and acts that lawmakers decide should be regulated in the interest of the community. The first group includes such major crimes as arson, assault, breach of the peace, burglary, kidnapping, larceny, murder, rape, and robbery. The second group includes crimes of a "rapidly growing urban society." These crimes include violations of income tax laws, liquor control regulations, pure food an...

“Beyond thee Influence” by K. Ketcham

The book â€Å"Beyond thee Influence: Understanding and Defeating Alcoholism† by Katherine Ketcham is devoted to the problem of alcoholism and the author ties to fill in the gaps in knowledge. The author discusses current theory of alcoholism, defines its causes and consequences and says that alcoholism is disease, not weakness of willpower. The book is divided into three sections: â€Å"The Problem†, â€Å"The Solution†, â€Å"The Future†. Evidently, the firsts section discusses the origins of alcoholism, defines the terms and describes what is going on in the body.The section provides details overview of three mechanisms involved in the metabolism of alcohol. The author involves also brain damage and dependence on alcohol, as well as three stages of alcoholism – early, middle and late. The second section is devoted to finding solutions to fight alcoholic dependency. Ketcham talks about diagnosing an alcoholic, intervention and treatment options. S pecial attention is paid to the Sundown M being a famous treatment of alcoholism that helped more than 30,000 alcoholics.Furthermore, the role of family involvement is underlined. Finally, the third section how it is possible to reduce the impact of alcohol and what changes to implement to decrease the rates. The author discusses alcohol industry, advertising, etc. According to author, alcohol’s effect can be changed through penalties for drunk driving, higher liquor taxes and more informative education programs for children, teenagers and adults. Moreover, the section involves personal stories about devastating effect of alcohol consumption on future life.It is necessary to mention that the book is well-written and well-organized. Despite the fact that discussion of metabolism and cellular interactions are rather difficult for understanding, the whole book id well suited for most teenagers and adults. The style of writing is very elementary and every person with high school education is able to comprehend it. Actually, the book is of great importance for people with drinking problems. References Ketcham, Katherine. (2000). Beyond thee Influence: Understanding and Defeating Alcoholism. New York: Bantam Books.

Nutrition Month Essays

Nutrition Month Essays Nutrition Month Paper Nutrition Month Paper Did you know that we celebrate Food Conservation Month in January; Heart Month and National Arts Month in February; Fire Prevention Month, National Women’s Month, and Tax Consciousness Month in March; Buwan ng Wikang Pambansa and National Lung Month in August; National Science Club Month in September; National Children’s Month and Consumer Welfare Month in October; and Filipino Values Month in November? Did I forget a month? Oh, yes! So, what are we celebrating this month? Oh my gulay, it’s Nutrition Month! By virtue of Presidential Decree 491 (aka Nutrition Act of the Philippines), the National Nutrition Council is spearheading this nationwide celebration, now in its 38th year, that carries this very meaty theme: Pagkain ng gulay ugaliin, araw-araw itong ihain. The 38th Nutrition Month celebration underscores the importance of vegetables to increase vegetable consumption as part of a healthy diet to address micronutrient deficiencies and non-communicable diseases, promote vegetable gardening as a source of additional food and income, and increase demand for vegetables to help local vegetable farmers. Nutrition Month focuses on vegetables for several reasons: Filipinos are eating less and less vegetables. From 145 grams per day in 1978, consumption has decreased to 110 grams per day in 2008. In terms of age groups, children six months to five years old consumed only a little amount of vegetables. Studies show that among the reasons for low vegetable consumption are: influence of family members who do not eat vegetables, dislike for vegetables because of taste and texture, cultural beliefs about vegetables, cost, preparation time, and fear of chemicals. In eating such vegetables, we can get nutrients such as vitamins A, B, C, E as well as potassium, folic acid, iron, and calcium. In eating vegetables, we can get health benefits unlike other foods; and the following are the benefits that we can get. Vegetables as part of a healthy diet can help prevent major non-communicable diseases such as cardiovascular diseases, stomach cancer, colorectal cancer, obesity, and diabetes. Consumption of vegetables can help prevent micronutrient deficiencies. Vegetables ensure an adequate intake of most micronutrients, dietary fibers, and a host of essential non-nutrient substances. Eating vegetables may help decrease bone loss as vegetables decrease the amount of calcium excreted in the urine. It may help lower calorie intake and thus help in maintaining healthy weight because vegetables are low in calories and do not contain cholesterol. Vegetables contain antioxidants and protectants such as carotenoids, lycopene, and phytochemicals, which can help strengthen the immune system, reduce the risk of diseases, and contribute to well-being. Our school, Our Lady of Caysasay Academy, first celebrated Nutrition Month which had certain contests for us students that we really enjoyed. Contests like The Making of the Nutri-Board, by section, which will be divided into 2 groups and will compete for the representative of the class and the other contest was Veggie Fest, which is also by section, wherein, 3 representatives will be picked to cook a certain dish that will test our creativity. For Grade 7, the dish given to them is Vegetable Salad; sophomore, Malunggay Dish; Junior, Chop Suey; and for the seniors, their own and original dish. Well, I’ll just mention the places that we’ve got. For the Nutri-Board, even though the other group won, I’m still grateful that they got the first place. And for the Veggie Fest, we earned the second place. It is our first time to celebrate it, I can say that it’s a success and we had a lot of fun. There are certain students who won and who didn’t, but whatever happens, we accepted reality. We still have the next year to further make a lot of practice and such to really win. I’m hoping that our school will still celebrate it next year, for it is such a wonderful experience. .

FDR essays

FDR essays The world has known many great leaders, especially in the post-Civil War era. Winston Churchill, Martin Luther King, Jr., and Harry Truman all rank with the most prominent leaders of all time. However, in my opinion President Franklin Roosevelt made the most difference out of anybody in this century. He began a new era in American history by ending the Great Depression that the country had succumbed to in 1929. Without him ending the Depression, who knows where this country could have gone? His social reforms gave most people a new perspective on government. Government was not only expected to protect the people from foreign invaders and affairs, but to protect against poverty and joblessness in ones own country as well. He not only changed the country for the better of everyone, he also made substantial gains on what a president could do for his country. His accomplishments as president will never be duplicated. Public opinion was so overwhelmingly for him that he was elected to off ice four times, which most likely will never be duplicated again. His reign in office came at, by the far and away, the most difficult time in American history. Not only did he accept the challenges at hand, he rose to the occasion and took this country to another level. Roosevelt was born on January 30 near New York City. He graduated from Harvard in 1904 and attended Law School. Although he didn't get his law degree, he was admitted to the New York bar in 1907. He was elected to the New York senate in 1910 and was appointed by Woodrow Wilson as assistant secretary of the navy, a post he held during World War I. Roosevelt ran for vice-president in 1920 and lost. In 1921, he was stricken with polio, which left his legs paralyzed. Twice he was elected Governor of New York and in 1932, he defeated Herbert Hoover for President. After taking office, Roosevelt immediately took drastic action to respond to the Great Depression. He promoted labor laws the be...

Gp ip4 training and development Research Paper Example | Topics and Well Written Essays - 250 words

Gp ip4 training and development - Research Paper Example The internet is an appropriate and powerful technology for facilitating the services offered by the sales team in the organization. The internet allows the storage of data and information locally while enabling accessibility from different locations within the organization. Technology is changing the world quite fast, and its wide acceptance will enable easy connectivity with the outside world. It also inspires the revolution of old companies towards technological change and acceptance (Wilson & Wilson, 2012). The issue of equity among the individuals being trained is assured via the use of response forms that entail questionnaires and surveys that participants will fill each day after classroom activity. As the training manager, the implementation of a free and fair learning environment would be encouraged to facilitate easy learning and addressing of individual concerns among the sales team. Guaranteeing that no individual is lagging behind in training would be solved by involving experienced sale representatives in the exercise procedure. In the case any of the participating trainees have a form of disability, for example, a disability that prevents them from sitting for more than 30 minutes at a time, the management team will provide specialized tasks for these individuals. There are specified tasks listed for individuals with disability, for example, ushering in clients at the organizations entrance or sales or customer care stands that offer periodical sitting and standing options (Mukherjee, 2012). The possible issues with training a group of employees in their 20s and 30s is the possibility of disagreement and conflict between the age groups. This might be brought about by the need for displaying competition between the age groups. The organization is on board with the training procedure and it also adheres to the set regulations for performing a human resource exercise for the organization. In

List given to choose from Research Paper Example | Topics and Well Written Essays - 2500 words

List given to choose from - Research Paper Example This book made the Berlin Wall a more emotional experience for me as a reader. Beller, Miles. American datelines: major news stories from colonial times to the present. Chicago: University of Illinois Press, 2003. Print This book highlights landmarks and milestones in American history, based on news stories from the colonial period until the present. It is a compilation of news articles from the initial copies of Boston News to the current major publications. This book features newsworthy additions on the accounts of the fall of the Berlin Wall, as well as the Clinton Impeachment and the OJ Simpson trial. This book helped me gain a general perspective of various landmark events in American history. It provided an account of the fall of the Berlin wall which was written from an American perspective. Through such accounts, I was able to gain a general perspective of the Berlin wall. Brager, Bruce. The Iron Curtain: the Cold War in Europe. London: Infobase Publishing, 2004. Print. This book presents an analytical approach to the issue of political boundaries in the world. It studies the Central European part of the Cold War, presenting the peaceful and dangerous competition between the US and the Soviet Union. It also establishes the origins of the Iron Curtain from its start during the end of the Second World War to its end during the fall of the Berlin Wall in 1989. This book provided a European perspective of the Cold War, including the impact of the Berlin Wall on Germany and on the rest of Europe. This perspective enabled me to understand why the wall was built in the aftermath of the Second World War and in the advent of the Cold War. Chapin, Wesley. Germany for the Germans?: the political effects of international migration. London: Greenwood Publishing Group, 1997. Print. This book evaluates the impact on migration on German society. It reviews migration in the face of its political and modern history. This analysis indicates the impact of Germans, in the i mmediate aftermath of WWII, migrating to other countries on the countries they were migrating to as well as to their homeland. This study was undertaken in order to provide an analytical discussion for international relations, comparative politics, and migration. This book provided an analysis of the Berlin Wall based on the trends of migration and their impact on the Germans. It helped me understand the Berlin wall based on the discussion of emigration, in the light of the actual building of the wall and its impact on the economy of Germany with its recruitment of foreign guest workers. Davey, Thomas. A generation divided: German children and the Berlin wall. London: Duke University Press, 1987. Print. This book is largely based on the author’s interviews with children at both sides of the Wall. The author also gathered information by participating in their daily lives, collecting their drawings, conversing with their teachers and family members, and basically assessing how children can be attentive to what is going on in their country. This study presents a powerful book and a dramatic image of the younger generations of Berliners coping with the complicated political scenes which have caused the division of Berlin. This book gave another personal outlook of the Berlin Wall and its impact on the citizens, most especially the younger generation of Berliners. It gave me a different outlook on the impact of the

Lay investiture Research Paper Example | Topics and Well Written Essays - 1250 words

Lay investiture - Research Paper Example Kings had taken some duties and trappings entitled to priests while some priests and bishops governed as feudal lords. The church lacked the governing power because the pope did not have coercive power to implement ecclesiastical policies. As such, it was necessary to employ the secular arm that was willing to implement the will of papacy. The monarchies saw the new action of papacy as usurping their power and as a result, conflicts emerged (De-La-Noy 1993, 72). During the time when Norman rule was established in England, there was a great need for change in the relationship between secular and church authorities. Gregorian reforms, which favored a central authority of Rome when dealing with local churches in Europe, were not fully accepted by Western Europe’s kings and monarchies. There was an increase in the effectiveness and scale of papal influence in local churches. At the same time, the powerful government established by Norman monarchy in England often opposed the influ ence and intervention of the pope in the affairs of local churches. As such, papal intervention and interference by the monarchy in the affairs of local churches led to investiture conflicts. ... After the death of William in 1100, Anselm returned to England after being invited by a newly installed King Henry 1. Anselm supported Henry’s rise to the throne against a protracted conflict with his brother, Robert. However, due to respect for papal decree, Anselm declined to support Henry’s demand to honor him and obey his commands. In addition, Anselm rejected to consecrate bishops that the king wanted. Henry did not want to quarrel with him while at the same time, he did not want to compromise the monarchy’s rights to homage and investiture (De-La-Noy 1993, 74). Despite mutual respect between Henry and Anselm, there was a direct conflict between them. Henry, who was not as violent as his predecessor Rufus, was resolute. He summoned Anselm and insisted that he pay homage by consecrating the bishop and priests that he had proposed, or he would leave the country. Anselm did not take any of the two options offered by Henry because he had deep conviction that he had to respect the pope, and it was his personal decision to either accept or decline the king’s demands. The conflict compelled the two to send emissaries to Rome in order to negotiate ways of solving their conflict. Pope Pascal II answered back by praising the king’s faithfulness on the matter but maintained his predecessor’s stand that forbade investiture and homage (Wilhelm 1990, 44). After a series of negotiations conducted by the king’s emissaries and the pope, there was some compromise in which Henry was allowed to invest in some bishop, but the 1102 letter by Pope Paschal II did not touch on homage but criticized investiture fervently. The Roman Council, which was attended by

Rate Law and Activation Energy Essay Example for Free

Rate Law and Activation Energy Essay Introduction In this experiment we are analyzing the relationship between reaction rates at different concentrations and temperatures to determine the true rate constant, activation energy, reaction orders, and half-life of a reaction. The reaction of interest is the addition of a hydroxyl group to the nucleus of Crystal Violet. Crystal Violet, or hexamethylparaosaniline chloride for short, is a strongly colored purple dye with the chemical formula C25H30N3Cl and disassociates completely in solution. The relevant structure for this compound can be seen in figure 1 Figure 1 The base that is being used for the reaction is the strong base Sodium Hydroxide, or NaOH. This molecule also completely disassociates in water. Because measuring the concentrations of reactants is difficult in a simple lab setting, the reaction between Crystal Violet and Sodium Hydroxide will be measured through light absorbance. As the reaction between the chemicals takes place and the Crystal Violet receives the hydroxide the overall intensity of the purple color will decrease thus affecting the absorbance. The absorbance of the solution will be measured with a colorimeter as the reaction takes place and will be interpreted as a direct representation of concentration of Crystal Violet. After the reaction has taken place, through analysis of graphs plotting absorption vs. time, the natural log of absorption vs. time, and the inverse of absorption vs. time the reaction will be determined to be either zeroth, first, or second order with respect to crystal violet. From here the a pseudo rate constant can be determined, and using comparisons of different constants at different concentrations of NaOH solution and different temperatures, the reaction order with respect to hydroxide, the true rate constant for the reaction, and the activation energy for the reaction can all be determined with the following equations respectively. equation 1 Where k2’ is the pseudo rate constant of the reaction using twice the initial OH- concentration as is used in the k1’ reaction and n is equal to the reaction order with respect to OH-. equation 2 Where k’ is a pseudo rate constant based off of absorption and n is the reaction order with respect to OH- determined by equation 1. equation 3 Where k1 is the reaction constant at temperature T1, a is a constant that can be ignored due to the way the equation will be utilized, R is that gas constant, and Ea is the activation energy. Procedure The following materials were needed for the experiment: 4 100mL beakers 250mL beaker 2.5Ãâ€"10-5M Crystal Violet Stock solution 0.10M NaOH Stock solution Distilled Water 10 dry plastic cuvettes and caps Stirring rod Vernier Colorimeter 50mL volumetric pipet 100 µL syringe 2 10mL vials Logger Pro software Vernier computer interface Hot plate Vernier temperature probe 1. First, 100mL of 0.10M NaOH solution was obtained using a 50mL volumetric pipet, and 0.05M was prepared using a the pipet, the stock 0.10M NaOH solution, and distilled water. 2. The Logger Pro software was engaged and both the Vernier colorimeter and temperature probe were plugged into the appropriate channels. The temperature of the room was measured and the colorimeter was calibrated by setting the 0% light and 100% light conditions. 3. The colorimeter was set to 565nm and 1mL of 2.5Ãâ€"10-5M Crystal Violet solution was mixed with 1mL of 0.05M NaOH solution and quickly added to the colorimeter. Data correlating time, temperature, transmittance, and absorbance was then recorded for seven minutes as the reaction between the two solutions took place, and this data was saved. 4. This previous step was repeated two additional times with the 0.05M NaOH solution, and then three times with the 0.10M NaOH solution. 5. Last, two 10mL-vials of 0.05M NaOH and 2.5Ãâ€"10-5M Crystal Violet solution were prepared in a warm bath solution on the hot plate. Once the temperature reached 35ËšC and was recorded, steps BLANK through BLANK were repeated again twice with the heated solutions of Crystal Violet and 0.05M NaOH. All of the data that was collected was saved and distributed between the two lab partners and all excess solutions were disposed of properly under the fume hood. Results The following are the graphs obtained from the absorption and time recordings of the third run for the reaction between 1mL of 0.05M NaOH and 1mL of and 2.5Ãâ€"10-5M Crystal Violet carried out at 22.62ËšC. figure 2 figure 3 figure 4 These plots show that the reaction order with respect to crystal violet is clearly 1st order due to the great r2 value of the linear trend line. Since our pseudo rate constant based off of absorption is equal to the negative slope of our linear plot, our k’ in for the reaction of 1mL of 0.05M NaOH and 1mL of and 2.5Ãâ€"10-5M Crystal Violet carried out at 22.62ËšC is 0.1894. These next three plots are the graphs obtained from the absorption and time recordings of the first run for the reaction between 1mL of 0.10M NaOH and 1mL of and 2.5Ãâ€"10-5M Crystal Violet carried out at 22.50ËšC. figure 5 figure 6 figure 7 As expected, these results still indicate a reaction order of 1 with respect to crystal violet as demonstrated by the linear plot on the figure 6. Our k’ in for the reaction of 1mL of 0.10M NaOH and 1mL of and 2.5Ãâ€"10-5M Crystal Violet carried out at 22.50ËšC is 0.2993. Now that we have two pseudo reaction constants in which the OH- concentration differs by a factor of 2, we can use equation 1 to obtain the reaction order with respect to OH-. Since the reaction order must be an integer we can see that the n must be 1. It is now know that for the reaction, the reaction orders with respect to both reactants are 1. At this point, the true rate constant can be determined using equation 2, where n is 1, the initial concentration of OH- is 0.05, and the pseudo rate constant k’ is 0.1894. These next three plots are the graphs obtained from the absorption and time recordings of the first run for the reaction between 1mL of 0.05M NaOH and 1mL of and 2.5Ãâ€"10-5M Crystal Violet carried out at 36.09ËšC. figure 8 figure 9 figure 10 Once again it is apparent from the three plots that the reaction is first order with respect to crystal violet. However, the reason we performed this last kinetic run was to obtain a value for k at a different temperature. This way we have two sets of values for equation 3 with two temperatures, and two rate constants. With this information we can cut out the pre-exponential factor a and solve for the activation energy. But first k must again be calculated for the reaction at the new temperature. Doing this the same way as done in calculation 2, we obtain a reaction constant of 4.964 – a higher value, which is to be expected with the increase in temperature. Now, manipulating equation 4 we obtain that equation 4 While plugging the proper values provides which after some arithmetic leads to a calculated Ea of 15,254.67J, or 15.25467kJ. The calculation for half-lives for the different conditions is simple, and just requires the following equation. equation 5 When using the rate constant found in calculation 1, t1/2 for the kinetic run for the reaction between 1mL of 0.05M NaOH and 1mL of and 2.5Ãâ€"10-5M Crystal Violet carried out at 22.62ËšC is found to be 0.183 seconds. Error Analysis In this experiment there are several things calculated and several sources of error to take into account. Error needs to be calculated for the rate constants k, for the half-lives, and for activation energy. The errors for the pseudo-rate constants are obtained using the LLS method. Once these are obtained the next step is to calculate the error in the true rate constants. When calculating the error in true rate constant once must apply both the error in the pseudo rate constant and the error in the measurement of volume for the 100 µL syringe as it pertains to the concentration of hydroxide. The error in the syringe is 0.02mL, which for 0.05M NaOH solution leads to an error in concentration of approximately 1Ãâ€"10-3M and 2Ãâ€"10-3M for 0.10M NaOH. Equation 2 is manipulated to solve for the true rate constant. The following equation is used to solve for the error in the true rate constant. equation 6 And when the derivatives are solved is equal to equation 7 And when the numbers are plugged in for the first kinetic run looks like calculation =.08 In other words, the rate constant for the first kinetic run came out to be 3.79 ±.08. Now when calculating the error in the half-life the only thing that has to be taken into consideration is the error in the rate constant, which was just calculated above. Using the same method, equation 5 is solved for half-life, and the error is calculated like so. equation 8 Which after the derivatives are solved is equal to equation 9 And of course after the correct values for example the first kinetic run are plugged in provides calculation = .004 And last but nowhere near least, is the error analysis for the activation energy. With this the error for the true rate constant must again be taken into consideration, and the error for the temperature probe. The error for the true rate constant has already been calculated, while the error for the temperature probe is provided in the lab manual as being  ±0.03K. Taking these into consideration, a very complex process follows. The same process as above was used but involving much more complicated and lengthy derivatives. First equation 3 was manipulated to the following form. equation 10 The derivative of this equation with respect to each variable (T1, T2, K1, and K2) was then taken squared, and multiplied by the square of the respective variables uncertainty. These were added up and the square root was taken as in the above methods. The end result was a calculated error of 2 KJ for the calculated activation energy of 15kJ. Figure 11 Overall this lab was very successful in the use of absorption as a method of monitoring change in concentration. The calculated errors all seem to be about what one might expect. This lab was very analytical outside of one glaring hole. You can see in figure 9 a slight curve in the plot that isn’t found on either figure 3 or figure 6. To me this seems to be because the reactants are heated up to a temperature around 35-36ËšC, but once the chemicals are mixed and placed in the cuvette the temperature is no longer controlled as the reaction takes place for the following seven minutes. Thus, as the temperature falls the rate of the reaction slows, and the pseudo rate constant is lower than it should be. This of course leads to a rate constant lower than it should be, and then the activation energy is affected as well. If I were going to change one thing about the lab, I would try and do something to control the temperature as the reaction persisted. Aside from that, there is little room for error outside of obvious blunders. Conclusion A reasonable value for activation energy was calculated from the data collected in this experiment. There were no major mistakes made in the laboratory, and the calculations all went smoothly. This experiment demonstrated that there are creative ways around difficult problems in the laboratory, such as measuring absorption in place of concentration to follow the progress of a reaction. References- Alberty, A. A.; Silbey, R. J. Physical Chemistry, 2nd ed.; Wiley: New York, 1997. Department of Chemistry. (2013, Spring). CHEMISTRY 441G Physical Chemistry Laboratory Manual. Lexington: University of Kentucky

Stock Options With Fixed Exercise Prices

Stock Options With Fixed Exercise Prices Table of Contents (Jump to) 1 Introduction 2 Fixed Price Options versus Indexed Options 3 Case for Indexed Options 3.1 Compensation for Relative rather than Absolute Performance 3.2 Protection of Managers during Market Downswings 3.3 Reduced Expected Costs 4 Case against Indexed Options 4.1 Unpredictability 4.2 Difficulty in Controlling Compensations 4.3 Larger Deadweight Costs. 4.4 Tax Treatment 4.5 Reluctance of Managers 5 Reasons for Choosing Alternatives of Indexed Options 5.1 Requirements of Firms 5.2 Sensitivity of Payoff 6 Empirical Evidence 7 Conclusion 8 References 1 Introduction The principal-agent problem has long been a matter of discussion within organisational institutions. As a matter of fact, the owners of a limited company normally elect a Board of Directors to control the business’s resources on their behalf. However, conflict arises among these managers and shareholders due to their different objectives. As owners, shareholders would want to maximise profits while managers may want to maximise sales, build empire buildings and enjoy perks. To align the interests of both stakeholders therefore, compensation of managers should be linked with the firm’s performance. One way to do this is the introduction of options: fixed price options and indexed options. Basically, an option is a financial derivative representing a contract that gives the buyer the right, but not the obligation, to buy or sell an underlying asset at a specific price on or before a certain date. An option, just like a stock or bond, is a security. Fixed price options and indexed options differ significantly from each other. For the purpose of this assignment, we will discuss how indexed options provide a better case compared to fixed price options. 2 Fixed Price Options versus Indexed Options Fixed price options whose exercise price is already agreed upon and will remain the same until expiration date. The option exercise price is usually set equal to the stock price at grant. When an executive is given a fixed price option as a means compensation, two situations can arise. If the share price rises above the exercise price, the executive gains. On the other hand, the executive receive absolutely nothing if there is a decrease in share price In contrast, an indexed option is a stock option whose exercise price is connected to a benchmark index, which may be a specific sector index or a broad market index. Indexed price options have unknown selling price when contract is being made, and the final price of the option depends on market status on the expiration date. A change in the absolute value of the share will have no effect unless thecompanyoutperformssomestatedindex suchastheSP500 or a group of peers. Then only, the optionwillbeexercised. 3 Case for Indexed Options 3.1 Compensation for Relative rather than Absolute Performance Fixed price options reward performance in absolute terms. If the share price increases, the executives are rewarded in spite of rising market trends being unconnected to managers’ performance. Executives are still rewarded if competitors’ or the market have performed better. Similarly, when the share price falls, no rewards are given even if the firm did better than its peers. On the other hand indexed options reward relative rather than absolute performance. Hence, executives do not enjoy windfall gains by luck in rising markets, but by their performance instead. Only if the company performs better than the market or its peers that the executives can cash in. The executives have therefore further incentives to deliver good performance. The example below gives a better idea of how indexed options actually reward relative performance. XYZ ltd.’s equity stock is currently selling for $100 per share when the market (benchmark) index is at a level of 1000. XYZ limited grants an option to its CEO which enables him to purchase an option consisting of 100000 shares at an exercise price of $100, but the same will move in line with the market in future. Taking a specific case, the CEO is given indexed options. The value of the option granted to the CEO under 4 various scenarios is shown in the table below. Value of Indexed Option under Indexed Options SHAREPRICE INDEX Rises Falls Outperforms the index Index: 1150 (by 15%) Exercise price: $115 (by 15%) Stock price: $120 (by 20%) Value of option: $500,000 Index:850 Exercise price: $85 (by 15%) Stock price: $90 (by 10%) Value of option: $500,000 Underperforms the index Index: 1150 (by 15%) Exercise price: $115 (by 15%) Stock price: $110 (by 10%) Value of option: $0 Index: 850 (by 15%) Exercise price: $85 (by 15%) Stock price: $80 (by 20%) Value of option: $0 Table 1 From Table1, indexed options only reward the CEO when the companies’ stock outperforms the market, even if indexes have increased or decreased. They have a fair way of rewarding CEOs; they do not reward under-performingexecutives nor do they penalize superior performers whenever the market index has increased or decreased in respective cases. This is a convenient way of keeping CEOs motivated and thus encourage them perform well in their duties of decision making for a company’s investment. In general, indexed options reward superior performance under all market conditions. However, if the same example is taken in the case of fixed price option, and that there is a 5% change in the share price, the scenarios will differ as follows: Value of Option under Fixed Price Options SHAREPRICE RISES Exercise price: $100 Share price: $105 (by 5%) Value of option : $500,000 EXERCISE OPTION FALLS Exercise price: $100 Share price: $95 (by 5%) Value of option: $0 NOT EXERCISE OPTION Table 2 As shown in Table 2, when the share price increases from $100 to $105, the option is exercised to the benefit of the manager. The latter receives a compensation of $ 500,000. In the reverse case, when the share price falls to $95, the shareholders gets no compensation. 3.2 Protection of Managers during Market Downswings In the case of fixed price options, executives are not rewarded when the market is declining because share prices are below the exercise price. However, indexed options can well reward managers in bearish markets as long as the decline in the company’s stock price is less steep than that of his peers. Indexed options reward better performers. 3.3 Reduced Expected Costs Traditional options plans reward employees as long as the share price is higher than the grant price. However, indexed options eliminates the possibility that managers can be compensated for share price movements that are unrelated to what they might have done. Thus it helps a firm to remove or lower undeserved compensations. A study by J. Angel and D. McCabe values that the expense of providing conventional options to executives at the 100 largest NYSE-listed companies is 41 percent more than the expense of providing options that take out market outcomes. The lower expected costs against future earnings of indexed options compared to fixed priced options can only be to the advantage of companies. 4 Case against Indexed Options The advantages of indexed options over fixed price options are flagrant in light of the above. However, the application of indexed options is still rare. They lag behind fixed price options in many ways. 4.1 Unpredictability Unlike indexed options, fixed price options brings predictability and certainty to a transaction due to the fixed exercise price. Through the characteristic of ‘all or nothing’, the manager will exercise, and therefore make money, if and only if the firm’s stock price is above the exercise price. 4.2 Difficulty in Controlling Compensations Budgeting and forecasting business costs are made easier using fixed value plans. They allow for firms to plan and control how much compensation to offer to employees. Retention risk, in particular concerning non- executive staff members, can be largely minimised when compensations are close to that offered by rival companies. Indexed options, on the other hand, can cause large discrepancies in compensations and the loss of key employees. 4.3 Larger Deadweight Costs An indexed option plan has a greater deadweight loss compared to a traditional option plan. This is because, with agency problems, where the interests of owners and managers do not always line up, there is the need to expose the managers to firm-specific risk to encourage a specific type of behaviour. However, this means that they are unable to diversify their portfolios to their full potential, exposing them to both systematic and unsystematic risks while compensating them only for the systematic portion of risk. Consequently, managers will always value their equity-based compensation at less than its market value. 4.4 Tax Treatment So as to obtain favourable tax treatments, a company can grant incentive stock options. However, according to the 1994 US Code, this entails that the option price should be less than the fair market value of the stock at the time such an option is granted. In this case, it implies that the option price be fixed on the grant date. 4.5 Reluctance of Managers Managers are unwilling to accept a compensation plan based on relative performance. This is because in the case of fixed price options, when the stock market performs well, they reap high rewards for stock price performance unrelated to their own efforts. Managers are reluctant to forego the potentially huge rewards conferred by the bull market, especially when they estimate that a downturn is less likely to occur in the stock market. 5 Reasons for Choosing Alternatives of Indexed Options Besides, it should be noted that indexed options are not suitable in all cases. Some reasons are illustrated below and the corresponding alternatives are also suggested. 5.1 Requirements of Firms Compensation systems have the following functions: to compensate managers for completed work, to reduce principal-agent costs by more closely aligning managers interests with those of shareholders, and to retain the manager. Compensation that accomplishes one of these functions successfully may not carry out the other functions of a compensation system as effectively. Stock options, for instance, serve to align incentives. However, a firm where incentive alignment is not that important, would not be keen to use stock or stock options to compensate its managers. It would rather use cash compensation Cash avoids the deadweight costs that accompany any equity-based compensation plan. 5.2 Sensitivity of Payoff Indexed options do not work as expected in practice. Instead, their payoff tends to be highly sensitive to market price movements. As the market increases, the value of the variable-exercise-price option increases too. For example, Lisa Meulbroek of Harvard Business School shows that the estimated value of an option indexed to the SP 500 rises by 15% if that stock index rises by 15%. Clearly, indexing does not even achieve its aim; separating the general market movements from the movements in the value of the option. An alternative design that rewards managers only for performance and not for that is due to overall gains in the market or industry can be considered. Instead of using the firm’s stock as an underlying asset, an alternative design employs a performance benchmarked portfolio. Under this proposed structure, the value of the portfolio changes to reflect the firm’s performance, net of market and industry effects, while the exercise price remains fixed. (Meulbroek, 2001). 6 Empirical Evidence A brief empirical review will determine whether relative performance is compensated in practice. We also explore if indexed options are indeed better than fixed price options. According to Gibbons and Murphy (1990), chief executive officers are compensated upon relative performance. It was found that there is a positive and significant relationship between the remunerations of CEOs and the firm performance, but an inverse and significant one with the industry and market performance. On the contrary, Bertrand and Mullainathan (1999) report that CEOs are remunerated for market-wide and industry movements that they perceive as luck. However firms that are better managed reward their CEOs less for such market movements compared to other firms. Sloan (1993)’s also found that CEO compensation depends on earnings so as to help separate market movements from the reward. With regard to the effectiveness of indexed options, in their works titled â€Å"Indexing Executive Compensation Contracts† in 2013, Ingolf Dittmann, Ernst Maug and Oliver G. Spalt gave empirical evidence that indexed options provide incentives at a higher cost than conventional options. 7 Conclusion In light of the above, it is observed that stock options with fixed exercise prices do not properly link managers’ performance to compensation since they relate to absolute and not relative performance reward. Indexed options have higher incentive advantages over the fixed price option since it takes into account the skills of the executives. It is also highlighted that indexed options result in a lower compensation costs than equivalent fixed price options. Nevertheless, the drawbacks and suitability of indexed options should not be ignored either. As a result, a firm is well advised to properly weigh the costs and benefits of indexed options before applying them. 8 References Angel, J. and McCabe, D. (2002). Market-adjusted options for executive compensation. Global Business and Economics Review, 4(1), pp.123. Bebchuk, L. and Fried, J. (2004). Pay without Performance, The Unfulfilled Promise of Executive Compensation, Part III: The Decoupling of Pay from Performance. 1st ed. [ebook] Harvard University Press, p.24. Available at: http://www.law.harvard.edu/faculty/bebchuk/pdfs/Performance-Part3.pdf [Accessed 25 Sep. 2014]. Bertrand, Marianne, and Sendhil Mullainathan, (1999), Are CEOs Rewarded for Luck? A Test of Performance Filtering, (Princeton University, Mimeograph). Chandra, P. (2007). FINANCIAL MANAGEMENT. 1st ed. New Delhi: Tata McGraw-Hill, pp.947- 949. Dittmann, I., Maug, E. and Spalt, O. (2013). Indexing executive compensation contracts. Review of Financial Studies, 26(12), pp.31823224. Gibbons, R. and Murphy, K. (1990). Relative performance evaluation for chief executive officers, Industrial and Labor Relations Review 43, 30-51 Meulbroek, L. (2000). Executive Compensation Using Relative-Performance-Based Options: Evaluating the Structure and Costs of Indexed Options. SSRN Journal, [online] 01-021. Available at: http://dx.doi.org/10.2139/ssrn.281028 [Accessed 21 Sep. 2014]. Mueller, D. (2012). The Oxford handbook of capitalism. 1st ed. Oxford: Oxford University Press, p.386. Schnusenberg, O. and McDaniel, W. (2000). HOW TO VALUE INDEXED EXECUTIVE STOCK OPTIONS. Journal of Financial and Strategic Decisions. Sloan, R. (1993). Accounting earnings and top executive compensation. Journal of accounting and Economics, 16(1), pp.55100. Stapledon, G. (2004). THE PAY FOR PERFORMANCE DILEMMA. 1st ed. [ebook] U of Melbourne Legal Studies Research Paper No. 83, p.6. Available at: http://www.pay-without-performance.com/Stapledon-Pay-for-Performance-Dilemma .pdf [Accessed 25 Sep. 2014]. Symes, S. (2014). Advantages Disadvantages of a Fixed-Price Contract. [online] Small Business Chron.com. Available at: http://smallbusiness.chron.com/advantages-disadvantages-fixedprice-contract-21066.html [Accessed 23 Sep. 2014].