Consolidation and Reflective Statement on Personal learning preference Coursework

Consolidation and Reflective assertion on Personal learning preference workshop - Coursework ExampleIt is good to balance these styles at quantify to create a balance for sharpening ones learning skills (Honey & Mumford, 1992). The reflector and theorist learning styles argon worth considering.Reflective learning is an individual style of learning. integrity needs no guidebook to give it. condemnation should not be thought of as an essential element of the to do list. Rather, reflection should be practiced at any stage. One should underscore the need to be a reflective assimilator, hardly not doing reflective learning. The ability to reflect is quite important in the process of learning and self-development (Honey & Mumford, 1992). Reflection could be in the form of thinking with a purpose, questioning, probing, analyzing, being critical, making judgments, and conclusions.A reflective disciple should plan and prioritize. The huge number of activities in the study process potf ul overwhelm a learner. One should plan his time and prioritize the learning tasks, knowing well how to execute all other commitments (Contrell, 2010). Precisely, the learner should reflect ahead to know what is required, when and how to do it based on prioritization. Secondly, the learner should set and achieve goals. motif basis play out when one reflects on the goals of the study while relating the same to life goals. When goals ar defined, it is easier to strategize on achieving them (Honey & Mumford, 1992).A reflective learner should know how to deal with anxiety and procrastination (Contrell, 2010). Procrastination can lead to the missing of deadlines or lagging behind in study schedules, a situation that can take away ones confidence. A learner should recognize why, where and when he or she procrastinates to quarrel habits and routines. Essential tools for reflection in reflective learning include diaries, journals, tables, lists, maps, bullet points, videos, digital reco rders, diagrams and icons (Contrell, 2010). These can infract boost a reflective

Paul Cezanne Les Baigneurs Grande Planche Essay

capital of Minnesota Cezanne Les Baigneurs Grande Planche - Essay ExampleRich people bought rich peoples art, while the rest f us bought posters or nothing. The prospect f walking into a gallery and talking to the owner intimidated me, and I in addition took it for granted that the era was long past when someone like me could sacrifice to procure anything worth having.What changed my idea was the Internet. In the late 90s, print dealers across the country began launching websites on which they advertised their w argons, and some plane posted the prices. I was already teaching myself about prints works published in multiple copies that cost only a fraction f the price f a image by the equivalent artist, thus putting them within reach f art lovers f comparatively pocket-sized means. without delay I began to consider the possibility f buying them.What separates a limited-edition print from a museum poster or a framed reproduction is that the former, unlike the latter, is large ly or entirely handmade, is produced in small quantities, and is (usually) sign and numbered by the artist, who creates it with the technical assistance f printers familiar with the particular medium in which he is working. No honest collector will deny that this last feature, the signature, is part f the appeal but to buy a mediocre lithograph simply because it is signed by Joan Mir or Marc Chagall is only a sis step up from collecting autographs. The best printmakers, from Rembrandt and Drer to Avery and Frankenthaler, have almodal values been drawn to the medium for its own sake, and their prints are worth having not merely in lieu f a more expensive painting but because they are fully realized creations in themselves. (House 369-376)Anyone who doubts this need only look at a copy f Piazza Rotunda, a limited-edition aquatint by William Bailey that I bought directly from Crown post Press in San Francisco, never having seen anything other than a thumbnail reproduction. It is a s till life f a miscellaneous assortment f eggs and kitchenware arranged on a circular tabletop in a shallow, strangely empty mode. When I opened the package and saw the piece in the flesh for the branch time, I actually gasped, stunned by its subdued intensity and fineness f line. Unlike a poster, Piazza Rotunda has a subtly textured, three-dimensional surface, created by the impressing f the etched plate into the thick newspaper on which the image is printed. Even if it were unsigned, I would have wanted to own it simply because f the way it looks. In fact, that is the only good reason to buy a work f art so that you can look at it every day, as often as you want. (McPherson 400-401)But what could I afford that I would want to look at every day Two f my well-to-do acquaintances are serious collectors, and knowing them nearly caused me to quit before I got started. To the aspiring collector f modest means, few things are more demoralizing than the spectacle f a Park Avenue living room whose contents include some twenty-odd canvases by a half-dozen important painters.I knew I would have to attenuated my aesthetic coat to fit my financial cloth. Once again, though, luck was with me. I had always loved American modernism in all its myriad manifestations. From F. Scott Fitzgerald and Aaron Copland to Louis Armstrong and Fred Astaire, our best artists have spoken in the crisply empirical, in a flash accessible tone f voice now

KFC and Its Franchising Strategy Essay Example | Topics and Well Written Essays - 1000 words

KFC and Its Franchising dodging - Essay Example before long the gild has 15000 outlets with its mien in more than 105 countries (KFC, About us). It has almost 455000 employees. Currently, the participation has a turnover of $15 billion. The success of the company is mainly due its return and a sound trade system. However, the worldwide expansion of the company also added to its huge success. The company undertakes its international expansion with franchise constitution of rules. A franchised system is a process by which the company allows another organization to use its name and mart its product. The organization which uses the name of the company to marketplace the products is known as the franchisee. A franchisee thus holds the right to market the products in a particular geographic area (Franchise). KFC operates with franchise system in the international arena. The company was also highly benefitted by this type of operation as the financial risk was greatly minimized a nd company had taken other risks against it. Also, the franchised system has helped the company to understand the culture of the local fraternity and develop the product line accordingly. For example in India, the company never sells any beef product as it is against the social culture. However, in countries like Pakistan, Afghanistan and other places of the world, the company sells beef products. As a consequence, the franchised system helps the company to adapt according to the regional taste. Also, the franchised system helped the company to decide the pricing strategy. It has a vane of 1500 franchisee (Yum franchises, Yum sets). The international franchising strategy of the company is both offensives as well as defensive and thus make the firm less dependent on the home country about the revenues and demands. The company has also been adequate to(p) to generate high profits from international franchising strategy. Moreover, the franchising has system has driven the company to the international avenue. The franchising strategy of the company has also helped the company to accomplish the following- International brand recognition by making its presence all over the world. The company strategically has chosen franchised musical mode apart from other modes of operation, as the franchised system offered less financial burden and also allowed the company to adapt according to the local culture. Franchise mode is also a safe way of conducting the business. It also allowed KFC to undertake an end to end marketing and distribution system. Hence on a whole, it can be concluded that apart from its product mix, promotional technique and other competencies franchised system hugely helped the company to grow their business into a global organization. Skoda and its Positioning Strategy Skoda is an automobile manufacturing and marketing company based in Czech Republic (Volkswagen aims at becoming slip away global car-maker riding on the Skoda 2011). However, in the year 2000 Skoda became a fully owned subsidiary brand of Volkswagen Auto group of Germany. The brand is mainly positioned as the entry brand of the entire brand. Within the group, the company was positioned at even higher than Volkswagen. It started the venture by manufacturing what is known as peoples car. nowadays Skoda is positioned as the alternative of Volkswagen. Hence it can be clearly stated as the positioning strategy of Skoda was based on its features. It has successfully positioned itself as the family car which offers value to the price.

The management strategy of Blackberry Essay Example | Topics and Well Written Essays - 2500 words

The management strategy of blackberry bush - Essay ExampleCenter of discussion in this paper is berry as a major player in the undimmed skirt and vigorous email trades around the world. The brand was designed and veritable by the Canadian firm Research in Motion ( margin) and has been operational in the smart phone markets since 1999. The typical Blackberry device is created to function as a personal digital assistant, portable media player, network browser, gaming device and many other similar functions. The largest competitive advantage operational to Blackberry devices in comparison to other smart phones is their ability to send and receive push email and repetitive messaging while preserving a lot of security through patented encryption methods. Typical Blackberry devices sustainment many instant messaging features including the Blackberry Messenger. For the fiscal year 2011, Blackberry sales accounted for 3% of every last(predicate) mobile device sales around the wor ld. This makes RIM the sixth most popular device maker in the world, as 25% of all mobile devices manufactured in the world atomic number 18 smart phones. The trademark Blackberry Internet Service is offered in 91 countries through some 500 mobile service operators who provide differing mobile technologies. An estimate from October 2011 places the number of global Blackberry subscribers at 70 million. The superlative market penetration of Blackberry smart phones is in the Caribbean and Latin America with market penetration levels of up to 45% in the region. ... s that mechanical man has the largest market division at 13% followed by Blackberry at 10% with Apple lagging behind at 9% while Windows Phone stands at a measly 1% only. The British market is also seeing a general cast up in smart phones in the overall mobile phone market. Within this scope of expansion, the share of RIM increased by 4% while Apple expanded by 2% to their overall market share. However, these increases pale in comparison to strides by mechanical man that grew to twice its previous market size. The increase from Androids end can largely be attributed to mid-range headsets manufactured by HTC and Samsung that are also sustenance Windows small market share (Brill, 2012). Blackberrys and its competitions overall market share reveals a lot given that Blackberry stands at 22.3% of the smart phone market while Android stands at 45.2% with Apple lagging behind at 18.3%. When these figures are compared to the market growth rates describe previously, it becomes clear that Blackberrys greatest competition stems from Android. In order to find a better(p) marketing scheme it is necessary to study why Blackberry is losing to Android in certain areas and gaining in others. While Blackberry is losing fast to competition from Android around the world, but consumers in Spain and the United nation are holding strong to Blackberry. The youth market is supportive of Blackberry because of the larg e volumes of text messages and instant messaging services used by them. The primary usages of young consumers are messaging services that are harder to use in conventional handsets when compared to smart phones such as Blackberry. One major advantage available to Blackberry when compared to Android is the trademark QWERTY physical keyboard that is standard to all Blackberry devices but

Inequality Essay Example | Topics and Well Written Essays - 1500 words

Inequality - Essay ExampleIt should be realized that every respective(prenominal) possesses different levels of skills ad capabilities. In order to become better leaders, it is important for the individual to grow and capture their emotional discussion in order to manage people better. The need to cultivate emotional intelligence arises out of several needs (Goleman, 65).The case provides an analysis in which an individual is able to be self-aware and recognize the emotions as they occur around him. As John improves in EQ, he is able to extrapolate himself better and the people he manages in the organization greatly depend upon him. More importantly, his social flavor improves drastically due to the self-awareness. This is certainly an important skill for all leaders as it enables them to discover and pull in their skills, strengths and weaknesses. Such leaders are able to understand the emotions of their workers and therefore treat them in the most take away way. The result of such awareness is an improvement in the overall performance in the organization.From the case, it is seen that John eventually manages to stay aware of his feelings and those of his senior regarding his performance in the organization. He realizes that despite the fact that he is a good performer in his field, he still needs to horn his focusing skills. It is basically a question of managing emotions and clearly understanding the wider picture in the whole organization (Goleman, 23). At the end, it is seen that John cannot only if rush into decisions but will clearly manage his emotions and make the most appropriate decision. For leaders, emotional management is a vital aspect and should be greatly valued. A leader should know how to balance situations and steering his subjects without showing any inappropriate emotions in the process. In such a case, the leader will benefit and maintain their respect from the subjects. In the case of John, many workers are free to consult h im on unlike issues as a result of

The Decline of the Ottoman Empire Essay Example | Topics and Well Written Essays - 1750 words

The Decline of the quilt conglomerate - Essay ExampleThis was as a turn up of internal issues as well as the external elements. The external elements came about in form of other civilizations, movements and formers that came along and posed challenges to the queen Empire. The Western Imperialist expansions were single of those that contributed towards the decline of Ottoman Empire in a direct and indirect manner. The impact of Decline of Ottoman Empire The result of Ottoman Empires decline was creation of vacuum in legal injury of authority, capacity and originator possessed by a single Empire. For centuries Ottoman Empire held the reign firm and controlled the native regions infra its grip effectively. With the gradual downfall, the question of stability, political replacement, and social substitution left much to be coveted and a question to be addressed. This vacuum creation brought about unhealthy competition and race for the occupying of power seat in the region in ord er to maintain the say and influence in the region. The Empire was at peak during the days when it conquered the Constantinople and this marked the pinnacle of their achievements (Melton and Baumann, 2903). Root causes of decline of the Empire The root causes were in form of political instability, internal intrigues, social disparity, nationalistic movements, alienation of the rulers from the people, external elements influence, awakening amongst the masses, Portes pushy governors (Couto and Loureiro, 39) and various other factors that led to the disintegration and decay in a gradual manner. 1682 can be termed as a significant period in the history of Ottoman Empire when they suffered their first defeat. economic aspect is also attributed as a factor that led to the downfall of the Empire. With no social equality, as well much being spent in the wars and other military pursuits led to starvation and inflation in the social and economic ranks, ultimately leading to disparity and di scontent amongst the masses and subjects spread far and wide. The prejudicial impact of economy directly told upon the military expansions, investments and developments. With the other empires and ruling regimes building on the military might, the Ottoman Empire stayed behind with regard to military advancements. The advancements in technology over period of epoch and near notably the Europe region, made the cause and case provided worse for the Ottoman Empire. The demise of one Sultan led to a battle for supremacy and attainment of the throne between the successors, this would result in the division of loyalties and eating up of the financial resources within. The role of Ambitious Governors Mehmat Ali and Ibrahim Pasha were two of the governors appointed by the Porte to administer and govern over Egypt. They were highly ambitious in their motives and intentions. They would demand new terms and territories from the Porte time to Time. Syria, Pashalik and other regions were und er their interest. This internal strife gave an opportunity to the foreign elements to intrude and make inroads in terms of their vested interests. France went in support of the war, Turkey in return had to fight a war with Russia in 1877 (Drury, 3)which further exposed and weakened the Empires say and influence in the region. Parts of continent Africa that were under the direct or indirect influence of the Porte also served as point and region of interest for the European Imperialistic and engaged them in rivalry with one another. Western

Knowledge Is the True Organ of Sight, not the Eyes Essay

Knowledge Is the trustworthy Organ of Sight, not the Eyes - Essay ExampleQuoting Platos cave example, Falzon (2002) explains that like Platos oblige image of the cave, normal human beings tend to calculate things or believe in things that might only when be shadows or mere appearance, and that real-world could be something very different. Knowledge gained through senses creates images that humans tend to imagine again and again, which might not correlate with reality most of the times. Therefore, knowledge gained through senses might not be appropriate in all situations. Instead, knowledge gained through understanding and rationality helps in misinterpreting the training that senses perceive. It is interesting to note that what we see produces limited knowledge as the information involved is limited but, what we encounter imbibes greater knowledge and information. For example, Placher (1983 p.154) quotes the example of Aquinass argument that explained how human beings see the c hanges in the world but they commit that the changes happening in any object is because of changes happening elsewhere. The ability to see the changes happening elsewhere is ceremony. This observation is important for gaining an understanding of what is happening and its source as well as its outcome. In this manner, distinct events mass be related and thus an understanding can be gained, which ultimately leads to improved knowledge.

Financial Economics 2012- Quantitative Methods II, Statistics Project Essay

Financial Economics 2012- Quantitative Methods II, Statistics Project - Essay suitThe CAPM gives an understanding about the kinds of adventures that affect the return through assessment of these risks. The model uses the beta of a special(prenominal) security, the risk-free rate of return, and the market return to compute therequired returnof an investment to itsexpected risk. The CAPM present and its uses The formula for the beta coefficient of stock is given by Beta Coefficient of Stock (?) = ?rm / ?2m ?rm = the Covariance amidst the returns on addition i and the market portfolio ?2m = the Variance of the market portfolio This beta value serves as an important measure of risk for individual assets (portfolios) that is different from ?2m, it measures the non-diversifiable part of risk. It is an indirect measure which comp bes the dictatorial risk (risk which cannot be eliminated by portfolio diversification) associated with a companys shares with the unsystematic risk (risk wh ich can be eliminated by portfolio diversification) of the capital market as a whole. If a beta value of 1 is obtained, the systematic risk associated with the shares is the same as the systematic risk of the capital market as a whole. ... = 0.016191667 - -2.205(0.006838583) = 0.03127. Hence the formula is given by MOBIL =0.03127 2.205 RKFREE discourse of the regression comparisons The two regression equations can be interpreted as follows The first regression equation can be concluded that a unit step-up in the market portfolio results into an increase of the monthly returns of Mobil Oil by 0.7135 units. Changing this into monthly percentages, a 10% increase in the market portfolio results into an increase of the monthly returns of Mobil Oil by 7.135%. In the second regression equation, a unit increase in return of the 30 day U.S. Treasury bills leads to a decrease of the monthly returns of Mobil Oil by 2.21 units. The bills are risk free and hence cannot be used to model expec ted returns. Hypothesis testing including nada vs Alternative Hypothesis The hypothesis to be tested in this analysis will employ a t-test. This t-test is used because we need to find whether there is a significant difference between the designates of MOBIL and merchandise, and between MOBIL and RKFREE. The test will determine whether monthly returns of Mobil Oil (MOBIL) and the market portfolio (MARKET) have a similar mean using a 95% confidence level. Hypothesis 1 Null Hypothesis, H1 Mean of MOBIL = Mean of MARKET Alternative Hypothesis, H0 Mean of MOBIL ? Mean of MARKET It is assumed that the variances are un refer. From the analysis, the computed t-statistic (0.2285) is not greater than the tabulated t-statistic (1.9801). Hence we fail to reject the null hypothesis and conclude that the mean of the monthly returns of Mobil Oil is equal to that of the market portfolio at 95% confidence level. The 95% confidence

Juvenile Justice - School Influence Assignment Example | Topics and Well Written Essays - 250 words

novel Justice - School Influence - Assignment ExamplePrograms such as abolish chronic hooky ( coiffure) ar effective truancy prevention program in schools. ACT targets children in grade K-6.ACT progressively involves both the child and the parents in an effort to make them be accountable. The first step in this program is the school administration engaging parents, who show truancy behaviors at school. In the presence of the police lieutenant district attorney, community-based organizations and school staff, the parents are invited to attend a meeting, together with their children. The program aims at improving acknowledgment among children through collaboration between parents and instructors.In case of no reforms in behavior, parents of the affected child are required to attend a check over team up meeting at the school. At this step, the review team undertakes identification of specific problems of the child. Parents should commit to being actively involved in ensuring the c hild adheres to attendance rules. The review board for that probe the students attendance is the next step for children with further problems after the SART. If all in all the measures are unsuccessful to prevent truancy expressed through the childs behavior.

Intelligence Essay Example | Topics and Well Written Essays - 1500 words

Intelligence - canvas ExampleOthers grow due to a particular issue like lack of social comforts in a specific town or area in this regard the best stylus to handle this is by solving first the complaints indeed the cracking of this group willing be easier.The factors that piddle away the non-state actors be handling within a particular border depend most on the driveway of origin. If is a significant issue that is more deeper like race, religion or even gender whence this can cut across borders exclusively if is the provision of resources such as water and food hence this is easily handled. The creator why it is good to tackle the main issue is that if the cause of grievance is not understood and the government handles the symptoms then it will only act as a catalyst (Huffman 2014).ii) The reason why the non-state actors have grown is also because the world has become interconnected where different regions or countries to a great extent depend on each other and through th is trade will grow and people will interact and the moment they build relationships they will start sharing their ideologies. In the traditional manner countries separately solved their own actions and did not really depend on anything or anyone (Harris 2013). The example of a Non-state imposter is a group like ISIS where the terror group has infiltrated different countries and to understand their cause they are brought unitedly by the belief. Religion is Key for them and this will not only affect one country but everyone who believes in the said religion.It is good to note that when the issue is more of a mental state then it cuts across borders. Another issue that has made it difficult to tame one non state actor is the technology. With the attire of electronic communication people between different continents can share their agenda and make it clear for them to progress their beliefs. They can always interact on day to day making it easier to plan their following(a) issue o f chaos and this

Terrorism Act 2000 Essay Example | Topics and Well Written Essays - 2000 words

Terrorism doing 2000 - Essay ExampleAll the checks have been centered round the very basic issue of translation of the term terrorism. This paper details some of the contradicting views on the definition of terrorism.The definition of terrorism has been exhaustively dealt with by section 1 of the Terrorism Act 20001. Under Section 1 of the Terrorism Act, 2000 the term terrorism is specify to include any specified morselion, the use or threat of which is designed to influence any organization or to intimidate the public in order to advance a political religious or ideological purpose (James Hammerton)2.The use or threat of action which involves the use of firearms or explosives will be deemed to be terrorism whether it is designed to influence the government or not or to intimidate a section of the public.The definition as provided for in section 1 of the Terrorism Act, 2000 thus includes an action that satisfies offspring under subsection (2), intention under subsection (1) (b ) and motivation under subsection (1) (c). However it has been specifically provided that where the action involves there is no relevance of the intention3.The major criticism against this exhaustive definition brought into force by the Terrorism Act 2000 is that it has the effect of making a serious assault on the civil liberties. This criticism is leveled on the ground that the definition covers however those who voice support for armed resistance against suppressive regimes and even those who organize mass faxing to register their protest against the government. The report from University of Essex describes the definition as too wide ingenuous of the clarity required for the immoral law.4 The same report points emerge that Amnesty International and the Parliamentary joystick Committee also have a similar view on the definition of the term terrorism.5 It has been pointed out that the Terrorism Act, 2000 does not cite any specific disrespect of committing an act of terrorism, as has not been the guinea pig with the legislation in many other jurisdictions. Here in the case of Terrorism Act the silent legal assumption is that the existing offences under any other criminal law would cover the terrorist onset under Terrorism Act. However this may give rise to a situation that the acts or conducts which are ancillary to the terrorist acts would be criminalized in many situations in which analogous conduct ancillary to other criminal activity would not be. The following cases will clearly illustrate this point It is considered as an offence under section 56 of the Terrorism Act, 2000 to direct a terrorist organisation at any level. This act at a very low level may not be subjected to the wider scope of terrorist barrageIt is an offence under section 38B of the 2000 Act, as inserted by the Anti-Terrorism, Crime and Security Act 2001, for any person to fail to disclose as soon as reasonably practicable any information which he knows or believes might be o f material

Film Essay Example | Topics and Well Written Essays - 1000 words - 4

Film - essay ExampleTherefore, Robert De Niro favored him by deploying other tactics and campaigns to portray him as the best. This was seen in his campaign slogans.Thirdly, Robert De Niro had a conflict of interest, which was unethical. He developed propaganda that favored the president leading to his re-election. However, the conflict of interest emanated when he matte up jealous that the media did not recognize him as the person behind the presidents re-election. This made him exigency to call the press to tell the truth about the president re-election leading to his death.Fourthly, Robert De Niro did not strengthen the normal trust, but instead fed them with lies in favor of the president. This is because he lied to the popular that the president was a clean man, despite the sex scandal that was fresh in the peoples mind. When the people complete his lies, he changed the tune and fabricated information regarding the missing people in Albania.Lastly, Robert De Niro failed to foster informed purpose through open communication. He was dancing to the tune of the president because he did all that the president wanted. He was not open to receive information from other people who were also interested in purpose a solution to the problem.Wag the Dog may be interpreted to mean diverting the public worry from the truth or something authorized to a less significant issue. In the movie, the most important point, which was going to determine the outcome of the election, was the sex scandal that befell the president. It was in the public, and everyone knew it. However, Wag the Dog was realized when attention was diverted to the fake constructed was about Albanian terrorists. The aim was to divert the attention of the media to dwell on the faux war and stop spending time on the sex scandal. However, this did not do much since the CIA find the fake annotation and never wanted to fail the

Cybercrimes Research Paper Example | Topics and Well Written Essays - 500 words

Cybercrimes - Research Paper subject9). Balkin and Information Society Project (2007) in their book wrote that cyber crime has the basic characteristics of traditional crime, but it is not territorially based (p. 218). Unlike crime, cyber crime can easily transcend to national boundaries. The laws governing cyber crimes in several countries are unenforce fitted due to the lack of a means of protection that businesses and governments are able to rely on, in place they have relied on technical measures to protect themselves from those criminals who would deny access of particular(prenominal) information, steal or even destroy information that is valuable.Cyber crimes come in three categories cyber crimes against a person, stead or a government. Cyber crimes committed against a person include crimes like harassing an individual via email, posting, distributing or disseminating materials much(prenominal) as pornography, and having indecent exposure. This type of crime possesses a ser ious threat to the younger generation and may cause scars that are irreparable to the young if it is not prevented. While crimes such as vandalism of computers and contagion of programs that are harmful like viruses, fall under cyber crimes against property. Cyber crimes against properties often take place in organizations. For instance, an plan company may decide to steal another companys database by using a spy. The other is the cyber crimes against governments come about when an individual or even a group for people threatens internationalist government by terrorist its citizens. An example of his type of crime is when an individual cracks a website containing important government information. catch is also a cyber crime that has become common it gives a person a dreadful view knowing that someone broke into your computer without the owners knowledge.People and the government must recognize cyber

Based upon your reading in The Worldly Philosophers by Robert L Essay

establish upon your reading in The Worldly Philosophers by Robert L. Helibroner, as well as CREDIBLE outside sources, system the di - Essay ExampleBoth Joseph Schumpeter and John Maynard Keynes were subjected to the same economic period, suffering from economic recession and aimed at developing theories aimed at economic development. However both analyzed the situation differently and thusly spy different economic problems which made them to come with different definitions of the economics, which are very important in rationality the youthful economic trends and situations. In an effort to solve the economic crisis, Keynes called for government intervention. Holding to the fact that bills was not an just a means of ex variety as was stipulated by the likes of Adam Smith and David Ricardo, unbosom the supply of money, and to be specific money speed had an adverse effect on the demand of goods, Keynes gear up it across that regulation of money supply would improve economic co nditions during recession (Heilbroner 267). To come up to this conclusion, Keynes held lack of control of money supply in the capitalistic system had caused the recession. Schumpeter agreed to Keynes idea that the failure of capitalist system resulted to the economic recession but attributed the failure to poor relation between capitalist investors and the tangible managers of the investment projects who happened to be employees. According to Schumpeter, the managers salaries are not correlated to the companys profit and thus dont strive to maintain or improve future returns. Although Schumpeter did not reject interventions, he held that capitalism could be maintained and its success accelerated creative destruction that is replacement of old careworn business models by new entrepreneurs innovations. What determines real price of commodities is a question that most economics realize had in their minds. Keynes was not an exception, although his answers portrayed a view completely different from his predecessors. To develop his theories, Keynes held that money and belief were real, and greatly influenced commodity prices (Heilbroner 270). Disregarding that firms and individuals had any impact the economy as demand which was only stirred by money velocity influenced capital formation, productivity and employment. However Keynes held the assumption that his theory was only useful if the velocity of money was held constant. Schumpeter embedded on this assumption and criticized the whole theory on the fact that velocity of money can only be constant in primitive societies and not in the modern complex economic conditions. It was Keynes ideas, of fiscal and monetary policies that were used to solve the recession problem. However, equilibrium conditions were only obtained in the short run just as they were proposed by Keynes. Schumpeter criticized Keynes short run solutions as not sympathize with about the future. Schumpeter identifies that the central economi c problem was not equilibrium as stipulated by Keynes, and suggested that structural change was more realistic. In attempt to solve the problem, he maintained that capitalist, not discarding intervention can still thrive given his theorem of the innovator. Schumpeter emphasized that equilibrium solutions were only short run that could not prevail in the long run due to structural changes. Contrary to their predecessors, Keynes and Schumpeter replaced the argument demand or supply of

There are four topics, so you can choose from them Essay

There be four topics, so you can choose from them - Essay ExampleBetter so, than live to be disgraced and looked askance at (Book III). Achilles on the other hand participates for the glory that this war is going to bring him, stock-still if it means his death. The motivation of Hector is selfless, while the motivation of Achilles is selfish.Hector holds the position of a traditional booster with the Trojans and is their undisputed leader looked upon with respect. When Hector heard this he was glad, and went about among the Trojan ranks holding his spear by the middle to keep them back, and they all sat down at his bidding. (Book III). On the contrary Achilles is a feared warrior in his camp, but at loggerheads with Greek kings Agamemnon, who want his presence on the battlefield as a motivation for the Greek army, which can be seen from this speech of Achilles to Agamemnon You are steeped in insolence and lust of gain. With what centerfield can any of the Achaeans do your biddin g, either on foray or in open rubbish? I came not warring here for any ill the Trojans had done me. I have no quarrel with them. They have not raided my cattle nor my horses, nor cut down my harvests on the rich plains of Phthia for between me and them on that point is a great space, both mountain and sounding sea. (Book 1).Throughout the book Homer paints Achilles in a near godly fashion. The human ingredient of fear is absent in Achilles and this makes his acts of bravery and gallantry beyond the means of a mere human. On the other hand Hector is seen in the as a human with all its failings including fear. Event in life cause fear, but how fear is conquered heretofore at the pain of death makes a human a hero. The scene of the killing of Hector by Achilles brings this out to the forefront. Hector alone outside the walls of Troy runs away from Achilles demonstrating the human characteristic of fear. He save overcomes it to come

Stretching Our Horizons Essay Example for Free

Stretching Our Horizons actComparing and contrasting Platos Allegory of the Cave with Paulo Freires Pedagogy of the Oppressed is a complex example of comparing bananas with tangerines. It is hard to take in the mind of a great philosopher. It is even harder to flip that mind your own. For that causal agent the task of fully evaluating these devil pieces side by side may forever be a work in progress. Each essay contains three major points. These points discussed new and advised thatched roofing methods, how creation is related to or with the globe and the responsibility that enlightened individuals have to mankind. The ideas of these two philosophers both mirror and contend each other in varying degrees. Through taking very different paths the two writers make their own points clear and demand rational and logical thought of their readers.Plato was a student of Socrates and though the typography of Allegory of the Cave is all his own the basis for his ideas came from n wholeness other than his own teacher. The teacher you date is one half of the great element in Platos epiphany. Socrates is in fact a briny grapheme in the conversation from which this excerpt is taken. It is said that in this particular work, Plato described symbolically the predicament in which mankind finds itself and proposes a way of salvation (Plato 1). Throughout the conversation a system of ideas develops that are meant to teach the reader or readers about themselves, their homo and how it should be viewed rather than a simple, inverted, non-involved outlook that is common to mundane large number. The adjudicate of this writing was to bring about enlightenment. To bring forth this enlightenment we mustiness search for familiarity according to Plato and this familiarity he refers to as light. Light brings the world into focus, so does knowledge and realization of ones institutionalize in the world. In Platos model, the teacher questions the actions or ideas of the st udent so that the student will learn to cogitate on their own.A person who quests knowledge for themselves and engages in thoughts other than those placed in their heads by another(prenominal) individual will find that knowledge. The quest for knowledge is not solely a right nevertheless also a duty and one that brings with it responsibility and dignity. Everyone has the ability to search for and find the light, or knowledge as we call it. Everyone also has the ability to attain thisknowledge. According to Socrates in this dialogue, living a life sentence with true knowledge and enlightenment is living a philosophical one. A life that casts a down look onto one of politics is one of true philosophy and one of true philosophy. This life is the only one that degrades the grandeur of political aspiration. Part of finding this light is becoming aware of the human blood with the world. Plato believed that just about men attain themselves as living in a narrow world.If the truth is told the world as they believe it is not a picture of reality. Therefore, the world exists and man is here in it, only when does not truly understand what it really is for he does not knows even himself as a man. one time a person has discovered himself, once he has discovered the light, it is his inborn duty to share this with the world. His purpose is now to blend in a writer of philosophy, to become a teacher in the school of thought. scorn the level on which a person decides to do these honorable deeds, it is not enough. It is the enlightened mans reason for be part of this great world that he has discovered.Pablo Freires ideas about man and educating are compiled in his Pedagogy of the Oppressed. He strongly suggests that for teaching to be the most effective it must be cognitive or revolutionary forum. The students should be pressed toward thinking on an individual level and this must be done in such a way that the teacher is not the source from which the knowledge come s. The instructor should be a means to obtain knowledge, a tool that is an aid rather than a necessity. Often times the teacher must become the student in the since of being open to new arguments and ideas that are introduced by the student. Freires guess also states that a person is not part of the world but the world is part of the person.He says that without mankind the world would not exist because there would be no one to say that it was doing so. What a person is what becomes reality, it is the true world. Freire suggests that to be enlightened, one must be more humanistic. The more humanistic a person can become the more knowledge they have obtained and the more they can help the world. This is the most important element because since they are of such great knowledge it is their job to pass this onto the world so that everyone may become more enlightened and raise the level of our existence.As it may be seen the two writers have both theories in common and those completely a t odds with one another. Plato says that to teach you must challenge that you must force, but Freire says that you must stand back and let the student come to person-to-person and individual cognition. In this Freire argues a revolutionary teaching method, but does so in an essay that follows the dash of narrative banking, while Plato rigidly portrays his methods in the way that his writing is developed and constructed. Both men see that man has a direct relationship with the world. Plato sees man as a part of the world, which must be brought into the light to see in reality. Freire on the other hand says that the individual is the world and that what he sees is what is real. The main area of agreement comes when both philosophers convey, it is the enlightened peoples place to carry on their knowledge to others. In one suggestion Plato uses his theory of philosophical lives being of a higher level than those of simple political ambition as an example of how to broaden the horizons of common place people by saying that enlightened people should be the ones in these political offices.From these offices they will be able to do more good than an uninitiated person will. They will be able to teach life and the value of it. Freire believes that an enlightened person must teach the very enlightenment and that the responsibility of extending this thought lies both on the student and the teacher. People cannot become great on their own, they must have educators, people to point them in the right direction. Their aid in seeking personal enlightenment could be anyone or anything and come from any of the various methods. The existence of the world is what we make it. Our duty is to ourselves and that entitles all that we believe both as individuals and as a group. While the count about whom is right or wrong will continue throughout time, one thing is for authentic we must go on.

How Does the Film “the Breakfast Club” (1985) Perpetuate Teen Stereotypes Essay Example for Free

How Does the Film the Breakfast social club (1985) Perpetuate Teen Stereotypes EssayThe Breakfast Club shows the representative stereotypes of before, peculiarly the 80s. The snob girl that thinks she shouldnt be there, the popular sports boy, the rebel that is not understood, the nerd that doesnt want to be in trouble, the outcast that is ignored, and the teacher that thinks to highly of themselves and thinks that adolescent equals problem.In the 80s The Breakfast Club became really popular. This could be because the teenagers that saw it found themselves identified with the characters. It also made adults and teenagers see from the outside what was occurrence, and that stereotypes did exist. today these stereotypes appease exist in a way, but not as marked as before. corresponding a shot teenagers could communicate with opposite people from different groups, not like in the film, were the popular girl doesnt think the rebel, nerd or outcast should be with her there. She thinks to highly of herself. Internet has also helped people not label others as much. Now people sometimes meet though internet, and this makes the first impression shadowy in what it refers to appearance. Teenagers get to know each other more than, so they dont fall for the stereotypic appearance of others. I find that what has also changed mingled with the 80s and now, is that studies have become more important.It is true that we still think a lot about our appearance, clothes, etc. but the society has made us more awargon of the fact that without studies we maybe wouldnt be able to go far. More information on TV has also influenced, now people are informed better on whats happening around the world. Teenagers now know there is more apart from school and friends, and are more unhinged about their future and world-wide problems, than to belong to a group. We are more understanding on what is around us, we are less narrow minded. Know we know there are people the same as us, so we give more opportunities.However, are stereotypes still giving problems? Many adults stereotype teenagers as being lazy, unmotivated, and dissonant individuals. Loud, obnoxious, rebellious, out of control, and up to no good Many people in different generations sincerely gestate that all teenagers are guaranteed trouble no matter where they are. I am not arguing that teenagers like that dont exist, because there are plenty of them out there, but it is bothering that one type of teenager has been able to spoil the image of all the others. Things like long or coloured hair, black clothes, threatening make-up, ect. Create a wrong idea of the person.Things like verbalism that a teenager is bad yet because they are trouble makers is wrong, someone could be just having fun and act serious somewhere else. People, specially teachers and parents, think that all teenagers are always ready for the battle, that they are not capable of reasoning, listening, or saying something interesti ng. In an external point of view, I personally find teenagers more interesting than any other group of ages. We are in the middle of children and adults, our view of the both is split into two and our exposure between them is different, this creates a wider point of view. Therefore, a different opinion.In conclusion, Stereotypes have changed throughout the years, people dont label as much. However, its still there, and is still harmful.

Controlling Case study Essay Example for Free

Controlling Case charter EssayAbstract This report card studies watchfulness direct design of provider relationships in manufacturing, a tote up chain chassis soon under-explored. Comp ard to supplier relations during procurement and RD, which inquiry found to be governed by a faction of buckram and in ceremonious hears, supplier relations in manufacturing atomic number 18 much starchy, so that they could be governed by more musket ball and less(prenominal) internal bears. To refine the counseling hold in system and influencing contingencies, we propose a metaphysical simulation peculiar(prenominal)ally adapted for the manufacturing stage. This framework is investigated by an in depth parapraxis body of work of the supplier oversight prevail of a Volvo Cars toil facility. We identify common chord eccentrics of suppliers visualizing the associations in the framework and illustrating the frameworks explicative power in (automotive) manufacturing. Furth ermore, the case contradicts that supplier relations in the manufacturing phase are governed by smaller inner sustain, because the carmaker senior high schoolly values the post of bank construct and brotherly pressure.Most notably, a structured supplier team functions as a clan and establishes informal control among discriminateicipating suppliers, which strengthens the automakers control on dyadic supplier relations. Keywords Management control Supplier relationships Manufacturing Contingency conjecture Case interrogation Automotive 2 1. Introduction In the current economic environment, characterised by globalization and intensifyd levels of competition, companies require an effective supply chain with inter-organizational relationships (IORs) to strive for sustainable competitive advantage.Not surprisingly, studies delegate that IORs have a high potentiality collision on organization performance (e. g. Anderson Dekker, 2005). Literature, however, besides make d os that many an(prenominal) IORs do not provide the expected benefits and are often terminated because of managing difficulties (Ireland, Hitt Vaidynanath, 2002). Academics often propose that neediness of coordination and opportunistic demeanor of partners are the two main reasons for the relatively high relationship failure mark (e. g. Dekker, 2004).Hence, trouble control systems (MCSs) are argued to play a critical role in preventing such failure, by establishing governance mechanisms to control the relationship (Ireland et al. , 2002). The fundamental goal of MCSs is to influence decision making in attaining strategical objectives (Nixon Burns, 2005). In an inter-organizational setting, this implies creating bilateral incentives to pursue unwashed goals. Already in the mid-nineties, scholars started calling for more attention for this field of study (e.g. Hopwood, 1996 Otley, 1994), and have not stopped since (e. g. van der Meer-Kooistra Vosselman, 2006).Consequently, inter-organisational MCSs have been studied from several(prenominal) angles, including outsourcing (e. g. Anderson, Glenn Sedatole, 2000), inter-organizational cost management (e. g. barrel maker Slagmulder, 2004), partnerships (e. g. Seal, Berry, Cullen, Dunlop Ahmed, 1999), strategic alliances (e. g. Dekker 2004), networks (e. g. Kajuter Kulmala, 2005) and joint ventures (e.g. Kamminga van der MeerKooistra, 2007).Yet, the main emphasis was put on relational collaboration during the set-back stages of the supply chain, namely procurement, which involves the make-or-buy decision, partner natural selection and narrow design, and RD. Although this historical focus is certainly justified, management control in a later phase of the supply chain, namely manufacturing, remains relatively under-explored (Cooper Slagmulder, 2004 Langfield-Smith Smith, 2003).However, purchased products and services for manufacturing flier for more than 60% of the average companys total be (Degra eve Roodhooft, 2001) and are subject to straight improvement with suppliers, also requiring adequate management control. Therefore, this study illustrates how manufacturers design the MCS of supplier relations in the manufacturing phase of the supply chain, which we refer to as manufacturer-supplier relationships (MSRs).In other words, we abstract from 3procurement and RD influences. 1 Nevertheless, management control seek on previous supply chain stages, offers a first theory-based sagacity into how a MCS for MSRs could look like. In peculiar(a), prior empirical inquiry on IORs such as RD collaboration (Cooper Slagmulder, 2004), strategic alliances (Dekker 2004) and joint ventures (Kamminga van der Meer-Kooistra, 2007) found MCSs that combine some(prenominal) formal controls, like moment controls, and more informal controls, such as self-reliance building. too the execution of service outsourcing projects, like industrial alimentation (van der Meer-Kooistra Vosselman , 2000), IT (Langfield-Smith Smith, 2003) and accounting (Nicholson, J mavins Espenlaub, 2006) is governed by a combined MCS. So if we assume these findings to hold for other IOR types (external validity) and neglect potential property differences, MSRs could be expected to be governed by a combination of formal and informal control as well. Yet, by taking into account differences between MSRs and other types of IORs, the MCS design could be distinct.In that respect, we argue that manufacturing is more formal than procurement and RD. Indications for that argument and its consequences for management control brush aside be found in the management control framework of Das Teng (2001). Based on the variables in their framework2, business programmability and outcome measurability, it should be clear that for manufacturing some(prenominal) variable levels are high, or at to the lowest degree higher than in the case of procurement and RD. Consequently, the framework indicates that formal controls are suited mechanisms to govern MSRs.This argument is strengthened by the type of companionship usage in MSRs, for which organization books provides a clear distinction between friendship exploration and intimacy exploitation. On the atomic number 53 hand, it is argued that the first supply chain phases, think of procurement and RD, charter at familiarity exploration, while the later stages, like manufacturing, primarily 1 Obviously, procurement and RD do impact the manufacturing phase.Yet, as our aim is refining supplier MCS design in themanufacturing phase, we deliberately exclude these influences. In wrong of inquiry methodology, this abstraction is put into operation by studying a MSR between a manufacturer facility and supplier facility only if dealing with manufacturing, while procurement and RD are handled by their motley(prenominal) mother companies (cf part triplet of this paper research methodology). 2 Although this framework was originally hi ghly-developed by Ouchi (1979) for use in MCS design within organizations, Das Teng (2001) further adapted it for use in IORs.Task programmability refers to the stagecoach to which managers understand the transformation process in which appropriate behaviour is to take place. effect measurability refers to the ability to measure outcome precisely and objectively. When outcome measurability is high/low and line programmability is low/high, formal outcome/behaviour control should be set up to govern the relation. When twain dimensions are low, informal control is preferable, moreover when some(prenominal) measures are high, both outcome and behaviour control are suited control mechanisms (Das Teng, 2001).4aim at knowledge exploitation. On the other hand, research shows that the exploration of knowledge is best governed by informal controls, while knowledge exploitation is most adequately controlled by formal controls (Bijlsma-Frankema Costa, 2005). Thus, based on the characte ristics of high task programmability, high outcome measurability and knowledge exploitation goals, MSRs could be expected to be governed by primarily formal controls with little informal controls. In other words, the literature offers contrary management control designs for MSRs regarding the informal control level.Therefore, this study investigates how the MCS of MSRs is designed and how measurable informal controls are in that design, in particular in IORs between an original equipment manufacturer (OEM) and suppliers of outsourced manufacturing activities in the trend-setting automotive industry (cf Womack, Jones Roos, 1990). An automobile is a complex product manufactured with thousands of components. Consequently, also this industry more and more outsourced non-core activities and started relying on suppliers to create lower costs.To that end, a variety of supply chain management practices has been implemented, such as lean supply and continuous improvement. Yet, these indu ce the need for appropriate management control structures and bi-directional communication to contrive and manage the relation (Carr Ng, 1995 S hobonell, Vickery Droge, 2000). In that respect, one particular automaker, namely Toyota, is known for partnering with suppliers, wobblering its expertise to help suppliers and position softer forms of control including institutionalise.To govern the search for continuous improvement in manufacturing, Toyota established the Toyota Group by pith of a supplier association, an operations management consulting division and voluntary small group learning teams (Dyer Nobeoka, 2000). However, practitioner literature (e. g. Automotive News/Automotive News Europe) describes several other automakers governing this search by heavily formalized supplier relations. Contrary to cooperation during procurement and RD, manufacturing is argued to become much more demanding towards suppliers.Automakers increasingly transfer manufacturing try and supp ly responsibility to first-tier suppliers, which results in suppliers delivering to very tight just-in-time and in-sequence schedules (Alford, Sackett Nelder, 2000). As a result, OEMs install formal controls and supplier improvement techniques, which alert suppliers to the importance of ameliorating supply performance at lower costs. Hence, also automotive practice shows evidence of high and low levels of informal control. Therefore, this study specifically investigates how the MCS of automotive MSRs is designed.Yet, besides illustrating MCS design, this paper contributes to explaining MCS design of automotive 5 MSRs. To our knowledge, little inter-organizational management control research specifically investigated fortuity theorys explicative power in manufacturing. Naturally, several papers study influences on MCS design in production environments, like the impact of manufacturing flexibility (Abernethy Lillis, 1995), customization and related interdependence (Bouwens Abernet hy, 2000), profit centre strategy (Lillis, 2002), production strategy, production technology and organization (van Veen-Dirks, 2006).However, these studies investigate characteristics explaining MCS design in one organisation, while our study focuses on inter-organizational relations. To that end, we propose a refined theoretical contingency framework based on recent inter-organizational management control theory, but specifically adapted for the manufacturing stage. This framework proposes several contingencies determining the level of risk, which is governed by different levels of management control techniques.In order to illustrate the validity of the framework in practice and firmness of purpose how and why automakers design their MCS, we perform an in depth case study of the relations between a facility (VCG) of the international OEM Volvo Cars and a selection of its first-tier supplier facilities. The case study provides considerable evidence of three supplier types, namely batch, low value-added just-in-sequence and high value-added just-in-sequence suppliers, visualizing the associations in the framework between contingencies, risks and management controls.These controls include both formal and informal techniques, of which trust building and social pressure are highly valued. Most notably, VCGs structured supplier team functions as a clan and establishes informal control among participating suppliers, which strengthens control on the OEMs dyadic supplier relations. As our framework draws on case findings from other less formal IORs, it seems that our case findings offer more evidence of their external validity. That way, the findings contradict that informal controls play a minor role in automotive MSRs.In particular, VCGs MCS, combining both formal and informal controls, is argued to be designed specifically to improve supply performance. The remainder of this paper is organized as follows. In the second part, we develop the theoretical contingency framework. The third part describes the case research methodology. The fourth part is the actual case study, which presents VCG, describes three supplier types by means of contingency levels and clarifies how VCG designed the MCS governing them.In the fifth part, we discuss our findings by comparing VCGs management control with previous findings and elaborating on the moment of VCGs supplier team. We conclude the paper with a summary of the main findings and some avenues for further research. 6 2. Theoretical framework In this part, we develop a theoretical contingency framework for MCS design of MSRs, which can be found in figure I. Contingency theory originated with the aim of explaining the structure of organizations by particular circumstances.Later, management accounting researchers adopted and further developed the theory in order to explain the mould of MCSs in organizations (e. g. Chenhall, 2003 Luft Shields, 2003). Therefore, contingency theory suits this study, regard ing MCS design of MSRs and its explicative variables. The central concept of the framework is the level of risk a certain MSR runs. Inter-organizational management control theory proposes two types of risk, which result from five different situational antecedents, characterizing the MSR.Although we clarify both risk types separately, we stress the integrative interpretation of all contingencies jointly determining both levels of risk. Subsequently, this risk is governed by different management control instruments, either with a large or a small role for informal control. 3 2. 1. Performance risk The first risk type is performance risk, defined as the hazard of not achieving the MSR objectives, despite satisfactory cooperation (Das Teng, 2001).This type of risk is also referred to as coordination requirements (Dekker, 2004 Gulati Singh, 1998) or the ascendence of events (Tomkins, 2001). As the MSR objective concerns manufacturing as many products of the order book as possible, o n time, with good fiber at the lowest possible cost, performance risk is the risk of a supply chain flutter disturbing the realisation of this goal. Three contingencies related to technology increase this risk, namely complexity, task dubiety and task interdependence (Chenhall, 2003).Yet as complexity and task uncertainty are highly related (Chenhall, 2003), the framework does not include complexity separately (cf Dekker, 2004). 3 According to van Veen-Dirks (2006), all situational characteristics and MCS characteristics are set(p) jointly instead of sequentially. Also Kamminga van der Meer-Kooistra (2007) propose that the influence of contingencies is not determined by to from each one one antecedent as such, but by their interaction. In addition, they suggest studying control as an integrative concept, in which all control dimensions are incorporated.Consequently, we do not propose one-on-one associations between one specific contingency, one specific type of risk and one s pecific type of control, suggested to suit that risk type. Instead, our model simultaneously studies the associations between situational contingencies, risks and management control techniques, as put forward by the three boxes of figure I. The boxes of contingencies and risks are put together to stress their interdependence and joint impact on management control.7 Task uncertainty relates to variability in transformation tasks and the available knowledge of methods for performing those tasks (Chenhall, 2003). This situational characteristic determines the measurability difficulty of output and activities (Kamminga van der Meer-Kooistra, 2007 van der MeerKooistra Vosselman, 2000), which increases with increasing levels of complexity of both the delivered product and its functional processes (Woodward, 1965).The first complexity is related to the added value of the product and gradually increases depending on whether the supplier delivers a measurement component or an important c ustomized module (Cooper Slagmulder, 2004). The second complexity regards the added value of the production process and reflects the complexity of the suppliers manufacturing processes needed to effectively produce and deliver products as required. Task interdependence refers to the degree to which subactivities of the value creation process have been split up and made dependent on each other (Dekker, 2004).In MSRs, this interdependence is sequential (Thompson, 1967)4, because the relation involves transferring the suppliers output to the manufacturers input process. The level of sequential interdependence is impacted by the dependence level of the manufacturers operational performance on the supply superior (timeliness and product quality). Moreover, the interdependence level of a specific MSR is influenced by the production flexibility required from both parties and the manufacturers lack of precise knowledge to perform activities previously done in-house.2. 2. Relational risk T he second type of risk is relational risk, implying the probability of not having satisfactory cooperation because of opportunistic behaviour of the supplier, exemplified in shirking, cheating, distorting information and appropriating resources (Das and Teng, 2001). This type of risk is also referred to as appropriation concerns (Dekker, 2004 Gulati Singh, 1998) or the generation of trust (Tomkins, 2001).Transaction cost economics (trichloroethane) theory5 proposes three contingencies that influence relational risk and attendantly determine appropriate control asset specificity, environmental uncertainty and act frequence (Williamson, 1979). Yet, as the manufacturer possesses no specific assets related to a certain supplier, at 4 Thompson (1967) identifies three levels of task interdependence from low to high, which influence the level of inter-organisational coordination and communication pooled, sequential and reciprocal interdependence.5 TCE argues that parties are only bound edly rational and behave opportunistically. Therefore, the total cost of outsourcing is the sum of both the supplied component costs and the transaction costs, including costs for negotiation, drawing up contracts, coordination, control and risk of opportunistic behaviour (van der Meer-Kooistra Vosselman, 2000). 8 least not in the manufacturing phase of the supply chain, there is no lock-in to supplier opportunistic behaviour.6 Hence, foreign uncertainty and transaction frequency, asset specificity does not influence supplier opportunistic behaviour in MSRs and is not include in our theoretical framework. Consistent with being a central contingency research concept, environmental uncertainty also forms a powerful characteristic of MSRs (Chenhall, 2003). In particular, this contingency relates to general market uncertainties and uncertainty about unknown next contingencies (Kamminga van der Meer-Kooistra, 2007 Langfield-Smith Smith, 2003 van der Meer-Kooistra Vosselman, 2000).B ecause manufacturer and supplier interact under these uncertainties, both parties face changes over time, which require detailed contracts (Dekker, 2004). However, incomplete contract theory argues that there exist limitations in drawing up complete contracts, because all future contingencies can not be foreseen, are in like manner expensive to foresee or are too expensive or impossible to contract upon (Gietzmann, 1996). Consequently, the combination of uncertainty and incomplete contracts leads to potential opportunistic behaviour of the supplier.According to TCE, more frequent interactions lower the surmise of opportunistic behaviour (Williamson, 1979). So, to preserve a haughty relation between contingencies and relational risk, we could utilize infrequency as contingency variable (e. g. Anderson Dekker, 2005). Yet, as we study MSRs with no connection to commercial negotiations determining the contract term, we include the antecedent relational stability aim. This contingen cy relates to the manufacturers aim of continued future interactions with the supplier and serves to build bilateral commitment (Cooper Slagmulder, 2004).We argue that MSRs, in which relational stability is considered necessary and gum olibanum aspired by the manufacturer, are subject to higher relational risk. For example, if supplier switching costs are high due to high interdependence, high commitment from the manufacturer could incite the supplier to accept lower quality or delivery performance. Besides including a transaction environment characteristic and a transaction characteristic, we also incorporate a transaction party characteristic (Langfield-Smith Smith, 2003 van der Meer-Kooistra Vosselman, 2000).In particular, we include supplier knowledge importance, which encompasses the degree of importance for the manufacturer to know the supplier and to be able to assess characteristics, such as management competence, trustiness and willingness to share proprietary knowledg e. Usually, this kind of assessment is done by means of first-hand or second-hand experience. Hence, we argue that when the 6 Obviously, suppliers do have specific assets in place, translateing them vulnerable to opportunistic behaviour from the part of the manufacturer.However, this study and the developed theoretical framework only focus on supplier opportunistic behaviour. 9 importance of supplier knowledge rises, the risk for insufficient or erroneous assessment and subsequent supplier opportunistic behaviour increases. 2. 3. Management control system Although MCSs have been conceptualised and categorised in various ways, the current management control literature has reached a consensus on two types of management controls, namely formal and informal control instruments (Langfield-Smith Smith, 2003).Obviously, studying the usage of informal controls compared to formal controls requires both control types to be included in the theoretical framework. Formal controls are explicitl y set up to coordinate the MSR and include outcome controls and behaviour controls. Outcome control involves the measurement and evaluation of the outcomes of operations against pre-defined outcomes or targets, by using several performance measurement techniques (Ouchi, 1979 Dekker, 2004). The most important outcome metrics for MSRs are percentage of defects, quality of delivered goods and on time delivery of goods (Gunasekaran, Patel McGaughey, 2004).Behavioural control concerns the specification and actual surveillance of behaviour, by means of rules and received procedures (Ouchi, 1979). Additionally, behaviour control includes evaluating compliance with pre-specified planning, procedures, rules and regulations (Dekker, 2004). Informal controls (also called social controls) are not explicitly designed, but are grown out of divided up norms and values, shaped by frequent interaction, meetings and management attitude (Ouchi, 1979 Merchant, 1998). Especially trust building7 has em erged as a very important informal control instrument in inter-organizational MCSs (e. g.Dekker, 2004).While formal controls reduce the risk by altering the incentives for underperformance and opportunistic behaviour, trust mitigates risk by minimizing the fear of underperformance and opportunistic behaviour to occur (Das and Teng 2001). Therefore, we include three types of inter-organizational trust building, namely building contractual trust, competence trust and goodwill trust (Sako, 1992). 8 Contractual trust results from previous contractual relations or grows during the MSR 7 Rousseau, Sitkin, Burt Camerer (1998, p. 394).Define trust as a psychological state comprising the intention to acceptvulnerability, based upon positive forebodings of the intentions or behaviour of another. According to them trust is not a behaviour (cooperation), or a choice (e. g. taking a risk), but an underlying psychological condition that can cause or result from such actions (Rousseau et al. , 1 998, p. 395 italics added).As such, trust in itself can not be a control instrument in the MCS of MSRs. Instead, the control techniques are the actions the manufacturer performs to create and build trust in the supplier. 8 Contractual trust is based on the foreboding that the supplier will keep promises and comply with agreements made, whether these10 (Sako, 1992).competency trust is increased by previous good performance, i. e. good quality and delivery results. Moreover, competence trust results from buying activities from reputable suppliers or transferring competences to the supplier. Additionally, product and/or process certification and process standardisation enhance competence trust (Sako, 1992). To develop goodwill trust, Sako (1992) identifies shared values and norms as necessary, but insufficient, as transaction parties also need to show the willingness to be indebted to each other.Gulati (1995) stresses creating and growing an inter-organizational bond of friendship to bring out goodwill trust (Gulati, 1995). Other possible goodwill trust initiators are interactive goal setting, trustworthiness reputation and a long term relationship (Dekker, 2004). Next to these specific trust building mechanisms, the literature also proposes an important overall trust building technique, namely close interaction, based on mutual interests and established by means of joint decision making and joint line of work solving via a joint relationship board and/or joint task groups (Das Teng, 2001 Dekker, 2004).9 Besides trust building, MSRs can be governed by another type of informal control, which Ouchi (1979) refers to as clan control. Based on shared norms, values and a common inter-organizational goal, supplier behaviour in the interest of the MSR will be reinforced, because suppliers are motivated to achieve the goal (Das Teng, 2001). This incentive results from inter-organisational social pressure (Spekle, 2001) exerted by the manufacturer, which we believe is social control in its literal meaning.Because of high interdependence between manufacturer and supplier, below standard results of the supplier at a time impact the manufacturers performance. Consequently, supplier management is unpleasantly confronted with manufacturer management and faces personal abjection because of the error. Additionally, supplier management runs the risk of their reputation and personal relationship with interperforming manufacturer management getting injured. Also Dyer Singh (1998) mention reputation and personal relations as social control mechanisms, besides norms and trust.By acting as negatively valued social sanctions (Bijlsma- are contractually stipulated or not. Competence trust concerns the expectation that the supplier possesses the necessary technical and managerial competences to deliver the order as agreed. Goodwill trust regards the expectation that the supplier shares an open commitment, with the willingness to perform activities beneficial to the MSR, but possibly neither in the suppliers interest nor required by the contract (Sako, 1992). 9 Other potential overall trust building techniques in a MSR are communication via regular inter-organizational meetings (Chalos OConnor, 2004 Das Teng, 2001), information sharing of problem areas (Chalos OConnor, 2004), supplier development activities (Carr Ng, 1995), networking (Das Teng, 2001), training (Chalos OConnor, 2004) and the extent to which the employees of both parties understand the factors ensuring the collaborations future success (Chalos OConnor, 2004). 11 Frankema Costa, 2005), these social consequences create incentives for satisfactory supplier performance and render supplier opportunism hard to sustain (Spekle, 2001).If we assume operational snags to be day-today business in MSRs, this social pressure creates an informal means to mitigate risk in MSRs. 3. Research methodology 3. 1. Case study research The empirical part of this paper is based on an in de pth case study, which is an investigation of a real liveliness phenomenon, relying on multiple sources of evidence and benefiting from prior development of theoretical propositions (Yin, 1994). This research method suits our research that concerns refining existing interorganizational management control theory for the relatively under-explored manufacturing phase of the supply chain.10 According to Keating (1995), such theory refinement needs a clear theoretical commencement point, supplemented with openness to the discovery of unexpected findings. To balance these theory attachment and detachment requirements, we developed a theoretical framework to guide the data disposition, but at the same time used data collection techniques admiting sufficient openness. Furthermore, several interorganizational management control case studies (e. g. Cooper Slagmulder, 2004 Dekker, 2004 Kamminga van der Meer-Kooistra, 2007Nicholson et al. , 2006) strengthen the argument that cases allow in vestigating in detail the structure and influencing variables of IORs (Sartorius Kirsten, 2005). These studies show that theory refinement of MCS design can be adequately investigated by means of qualitative research. The social meaning of inter-organizational MCSs, especially regarding the use and interpretation of informal controls, and the subsequent behaviour of companies and employees is very complex.So if we only skim the surface, we will never discover how different parties interpret certain IORs and whether the MCS is designed accordingly. This argument not only justifies the choice for a case study, but also forms the reason 10 Our research corresponds to investigating a complex phenomenon within its real life context of which empirical evidence is rather limited, and answering how and why questions about this phenomenon, for which case study research is most suited (Eisenhardt, 1989 Yin, 1994).Furthermore, Keating (1995) argues that case studies suit three goals and that our theory refinement goal represents the middle institute between theory discovery (describing novel phenomena) and theory refutation (disconfirming well specified theories by legal transfer in negative evidence). More specifically, our case research is of the theory illustration type, documenting previously unappreciated aspects of management accounting practice and identifying aspects of the illustrated theory that require reformulation or more rigorous specification (Keating, 1995, p.71).Indeed, the goal of this study is to illustrate how manufacturers design supplier MCSs, to what extent this design differs from designs in other IORs and how the design can be explained by means of a specifically adapted theoretical framework. 12 why more of this research is requested (e. g. Langfield-Smith Smith, 2003 Dekker, 2004 van der MeerKooistra Vosselman, 2006). 3. 2. Unit of analysis In most inter-organizational studies, the unit of analysis is one dyadic relation between two indepe ndent parties (van der Meer-Kooistra Vosselman, 2006).Since there exist different dyadic MSRs within one manufacturer and we study MCSs dependence on relationship contingencies, our unit of analysis consists of specific MSRs. Dyer Singh (1998) explicitly propose the relational dupe, focusing on the buyer-supplier dyad, as opposed to the industry structure view and resource based view, when analyzing cooperative strategy and sources of inter-organizational competitive advantage. In order to answer the proposed research questions concerning MSR MCS design, we analyzed all relations after the manufacturer had decided to outsource the manufacturing activities.In other words, we turn to neither the make-or-buy decision nor related commercial negotiations, but collected data from the start of production onwards. Furthermore, we only gathered data on standard MCSs for MSRs with good operational performance. 3. 3. Case company selection The selection of the case company and its supplier s was influenced by two selection concerns theoretical sampling (Eisenhardt, 1989), and open and flexible ingress to.

Death Penalty Essay Example for Free

Death Penalty EssayRoy Brown is a orthodox who believes in individual advanceds and the right to life. He believes there is no deeper violation of a citizens right to life, liberty and the pursuit of happiness than the government killing them when theyre actually innocent. With the use of the oddment punishment, mistakes ar highly inescapable (Brown 1).More than one hundred and forty death row inmates had been set drop by the expressive styleside after evidence was revealed proving they were wrongfully condemned and this often happened decades after they were sentenced to die. Sometimes the mistake was not caught and a some innocents have been put to death. Brown states that the death penalty is also somewhat bad for the victims families. The families are brought along to this drawn out legal process and appear in many courtroom sessions reliving the tragedy as it is impossible to make large(p) punishment quick (Brown 1).Another proscribe about the death penalty is its cost. Legal expenses alone make each death penalty racing shell much more expensive than a case where a criminal is sentenced to life without the likelihood of word of honor (Brown 2). Brown values human life and believes that everyone should die a natural death. The same principles that motivate him to contrast abortion also motivate him to oppose the death penalty. All life is valuable and the only way that the citizens can be sure an innocent person is never executed is by ending the death penalty completely (Brown 2).Roy Brown has a type of bias with his opposition of the death penalty. He is a Catholic so his religious views get in the way of his perspective on the use of capital punishment. Catholics believe that the fundamental respect for human life includes even those guilty of crimes. So Brown, as a Catholic, grew up disliking the death penalty as he has been taught in his religion to love human life. So his view with Catholicism might blur out how he truly views the us e of the death penalty without religion involved.Brown, Roy. Why Conservatives Should Oppose the Death Penalty. The Daily Caller. The Daily Caller, 16 Apr. 2013. Web. 26 Sept. 2013.

White and Indian Relations between 1865 to 1900 Essay Example for Free

color and Indian Relations between 1865 to 1900 EssayConfrontations and conflicts between gabardine American and intrinsic American during the late eighteen centurys become increasingly angiotensin-converting enzyme sided. From ritual practices and beliefs to overthrow ownership and political science indemnity intrinsic Americans and there white contour parts differed expectantly. Between 1865 to 1900 the white-hot man and Native American relationships in western United States could be characterized as a horrible and miss leading rampage of white man destroying foreign customs and peoples.In 1862 Congress had give western settlers their two greatest wishes, the Home Stead Act, promising ownership of 160 acre tract of state-supported land to a citizen or head of a family who had resided on/ or cultivated the land for cinque years after initial claim and the transcontinental railroad. Bringing the developed east coast to the crimson West, was the catalyst to end of t he Native American. Contributing factors for the demise of the Native American relationship between the White Man are shown through blood shed and tears.With new white settlers coming to the west, Native American lands shrunk significantly. In 1862 the lands of the Santee Sioux, near the Minnesota River had been whittled down so drastically, the Sioux decided to retaliate. The Sioux frustrations over lands lead to the one of the frontmost of many large Native American wars with the White man. The Sioux War terminate in 1868 with the signing of the agreement of Fort Laramie, Which established two large Native American reservations. The Reservations where located in Oklahoma and Dakota Badlands. only six years later Colonel George Armstrong Custer led an expedition into the Scared Black Hills of the Sioux. corresponding many U. S. government treatys to Native American, Custer violated of the treaty of 1868 and started the uproar and killings for the next ten years. After the caus e of Custers Last Stand, the Native American resistance to the White Man came to a halt. By 1886 reformers recognized that the policy of containing Indians on reservations was not in the best interest. With good intentions congress upheld the Dawes Severalty act in 1887.It ended the reservation policy and encouraged Native Americans to intergrade into white society, as farmers and property owners. One of the major reasons wherefore The Dawes Act did not with stand was due to the Native American concept of property. In many centering the Native American and the White Man carry different moral and cultural beliefs. One of the to a greater extent interesting concepts that Native Americans with held during early American years was the intellect of landowner ship. Native American tribes where at sea all along the, now united stated and often reaching beyond present borders.Native American tribes also survived on migrating animals in the surrounding areas. Buffalo In the western Unite d States was a food staple for many Native American tribes. Buffalo being a migrating animal, had to have been followed to be hunted. Leading most of Native Americans to be nomadic tribes following the buffalo herd. When the white settles came to Native Americans with the idea of land ownership many of the Native American tribes didnt agree with this new foreign concept. Native Americans public opinion that everyone should share land, and a single person cannot and should not own land.In 1879, the federal government essay to Americanize Native Americans once again. This time through a more dramatic approach. Estimating around one thousand Native American youth where forced to study at one of the one hundred and fifty boarding schools around the United States. These schools taught Native American youth how to become socially authoritative in white American. By changing culture styles with white American, and totally disregarding Native American animateness style. Not surprisingly most of the school did not last, due to the strict, internment camp Like conditions.Another advocator for peaceful integration among Native Americans into white society was a man named Richard Pratt. Pratt was noted for his idea of seeing Native Americans as, what one would call a blank slate. Meaning, just as everyone else, human. His ideas inhabit of full assimilation of white culture and disregarding years of Native American culture, for the betterment of the people. belt down the Indian, And Save the Man. This is one of his most famous piece on Native Americans assimilation.In 1890 the last great hope, the emergence of The Ghost Dance was a depiction from a medicine man, that all the dead Native American soldiers will come back to life and take vengeance on the new colonized Americans. This Ghost Dance is the symbol for the end of the fight for the west. By the 1890 the Native American had to adapt to life within the boundaries set by white culture despite their valiant e fforts of resistance. Bibliography Davidson, James West. Us A Narrative History, Volume 2. 6th ed. Vol. 2. S. l. Mcgraw Hill Higher Educat, 2011. Print.

Effect of Media on Eating Habits Essay Example for Free

Effect of Media on Eating Habits EssayCurrently this is a serious and exploitation concern for public health officials, registered dietitians, and families interested in living their day to day lives in a healthy manner. Youth are at the highest risk. According to the guinea pig Health Examination Survey, children ages 11-13 have highest invest of daily television viewing (Br give birth, 2008, p. 316). In a 2007 study, children were to a greater extent likely to be overweight when they watched more(prenominal) television (Gable, Chang Krull, 2007).Currently, the second leading cause of actual death correspond to the Center for Disease examine and Prevention is poor diet and physical inactivity (Schneider, 2006, p. 270). Trends that lead to poor diet and physical inactivity, at long last obesity in adults and children alike, stem from habits that form early on in childhood. This creates an endless cycle that perpetuates from coevals to generation. Obesity is currently a n issue that threatens the majority of Americans and its prevalence has increased substantially in the last leash decades (Schneider, 2006, p. 72). Its caused by a number of different particularors including genetics, physical inactivity, and poor eating habits. Two of the tether factors noted can be strongly associated with television media. A study conducted at the University of Minnesota in 2009 open an increased incidence of eating in front of the television was primarily due to publicizing and reduced metabolic rate in adolescence (Barr-Anderson, Larson Nelson, 2009). Reduced metabolic rate decreases ones take on for calories.Individuals of this demographic typically dont take this fact into consideration and eat as practically as before their exposure to television was such a significant part of their daily routine. This tendency leads to unwanted and unnecessary weight gain. Increased weight has shown to elevate the risk of cardiovascular disease, diabetes and intim ately kinds of crabmeat not to mention obesity (Schneider, 2006, p. 270). A less commonly recognized phenomena related to this issue is that wad dont know what healthy choices are and in turn, they are more likely to lessen victim to any temptations set before them.These enticements are provided most commonly by television media advertizement directed at less educated, more easily influenced audiences. For example, inexpensive fast provender that is a particularly popular type of advertising might seem like a logical source of food for some families that do not have access to, or know anything better. Environment There are many problems that make up this complex and layered situation. Many social, cultural and economic factors contribute to these dietetic patterns and eating habits that develop over a lifetime (Schneider, 2006, p. 77). The amount of time children happen with different sources of media from television, film, impression games, and computer or online media is exceedingly taking up the greater part of their time. With the average five and a half hours children spend using media on a daily basis, the only thing they spend more time doing is sleeping (Henry J. Kaiser Family Foundation, 2004). From age two to twenty, only eighteen years, that adds up to over 29,900 hours spent with media and 1. 8 times more than the 16,000 hours spent in school grades k-12 (Grossberg, 2006, p. 93).That equals out to approximately 20 hours per week according to a study done in 2006 (Francis Birch, 2006). Not only in the time spent heart-to-heart to media is a risk factor for children, but the way in which the media is consumed is also a major contributor to this situation. In the home, if there is a lack of parental control monitoring childrens media exposure, children are consequently at a higher risk of being influenced. Children heavily influenced by the media have the ability to curb how gold is spent and savvy companies see them as the consumers to be tar conked (Peregrin, 2001, p. 6). Children sometimes even spend their own money on the products they see repeatedly reinforced around them. Advertisers use this well known fact to target children because they know the powerful influence children can have on their parents purchasing decisions (Peregrin, 2001, p. 56). In an name written in 2001, Registered Dietitian, Adrienne Dorf expressed her opinion about educating children who are exposed to excessive media. She emphasized the remove to relieve the difference between television programs and commercials to children who may not be able to differentiate the two.Dorf urged parents to explain the idea of sales and the fact that the food advertised via commercials may not be the best for our bodies. dietetic habits form over a lifetime and are greatly influenced by the social environment and family climb as well as the media (Schneider, 2006, p. 277). From time to time parents struggle with taking their children into the super market for groceries just because they dont want to fight about what the new craze is in sugary cereal or what edematous snack crackers are showing more commercials on television or the latest study characters face on their box.It is a common to see a mother or father who gives in to please their child when he or she throws a tantrum in the middle of the aisle to get something they want. This repeated action can be a detrimental in the long run if it persists and continues. meeting Food industries have a goal to sell as much of their product to the public as possible. They will do anything they can to encourage Americans to eat and spend more money on any of their products. Most food advertised is high in fat, sugar, and salt leading to children in the grocery store begging their parents for candy and unhealthy snack foods (Borzekowski Robinson, 2001).Foods advertised taste good resulting in advertisements publicizing foods with high amounts of sugar, fat, and salt towards young er generations. For example, fast foods and high sugar cereals are two of the most commonly publicized items during childrens programming. Studies have shown that children under the age of 6 years of age cannot ramify between television programming as opposed to commercial advertising (Borzekowski Robinson, 2001).The primary problem is that children who spend excessive amounts of time exposed to television media are more likely to be overweight. According to the National Longitudinal Survey of Labor Market Experience, Youth Cohort (NLSY) a strong dose-response relationship was found between television viewing and the prevalence of overweight (Brown, 2008, p. 316). Adolescents from 10 to 15 years old who inform watching more than 5 hours of television per day had greater odds of having a BMI in the eighty-fifth percentile (Brown, 2008, p. 316).

Compare and Contrast Great Depression Essay Example for Free

contrast and Contrast Great Depression EssayThe 1929 stock merchandise crash and the subsequent bulky clinical low was the biggest sparing crisis that the knowledge base has experienced. The depth and length of the crisis and the suffering that it caused is legendary. Therefore when the world(a) financial crisis struck in 2007, legion(predicate) rushed to proclaim that we were ab let out to experience a nonher depression on a comparable scale, or at least what some provoke termed a enceinte recession. This bear witness pull up stakes comp atomic number 18 and contrast the two economic crises to analyse the key similarities and differences between the two. To do this, the essay go out firstly provide an outline of the conditions that led to the 1929 crash in the economy. Moving on from here the essay will then look at the indemnity responses that were implemented to tackle the crisis before analysing the conditions that precipitated the 2007 financial crisis and the policy responses, to draw out the similarities and differences of each of the crises, and to as sealed were any lessons learned during the current global crisis from the policies of the great depression era. Fin completelyy the essay will conclude with a discussion of the main layers raised by the depth psychology of both crises and a look at the future prospects for retrieval.Capitalism is a brass of economic tuition that has crises as an inherent feature. Many crises absorb occurred both before and after the 1929 stock merchandise crash, only the length and depth of the great depression has made it the point of reference for judging the severity of a financial crisis. Much debate has occurred over the causes of the great depression. While many see the late October 1929 saucy York stock market crash as the defining feature of the crisis, the reality was much more abstruse and multifaceted. As (Teichova 1990, p.8) suggests, the great depression was the deepest, all embr acing (agricultural, industrial, financial, social and political) and longest crisis with catastrophic consequences. As hale as this, although the United States led the way, this crisis was global and the rest of the world also experienced depression. So, any analytic thinking of the great depression must look at the various f exerciseors that caused and perpetuated it. The 1920s in America deplete been described as the roaring twenties. After the devastation of the first-world-war, during the 1920 to 1925 period US and foreign economies were experiencing a thrive. During that period, world mining and manufacturing output grew by nearly twenty portion (McNally 2010, p.63).However, in terms of inequality the vile were less poor but the complete weregetting richer at a graze of four to one. As well as this, four fifths of American had no savings compargond to twenty-four thousand families at the authorise who held a third of all savings combined (Canterbery 2011, p.13). Duri ng the boom, night clubty pct of all Americans aphorism their incomes spill in relative terms (McNally 2010, p.64). A factor in this was an increase in union-busting and anti-labour laws which increased income inequality. As well as this, agriculture, coal mining and textile industries were suffering from a post-war hangover which saw their favorableness scorn and in many instances wiped out. This inequality which concentrated wealth in so few reach led to a huge increase in consumer denotation which in turn sparked off ascension levels of private debt and a massive sorry burble in the form of a property boom in Florida (Canterbery 2011, pp.13-14). The mania of speculation was not confined to property and between May 1924 and the end of 1925, thither was a huge eighty percent rise in stock prices. The trend continued and as Galbraith (2009, p.16) has suggested, in early 1928, the nature of the boom changed. The mass escape into arouse believe, so much a part of the specul ative orgy, started in earnest.During 1928, the Times Industrials (a pre-cursor to the DOW) gained a huge thirty-five percent, from two-hundred and forty-five points to three-hundred and xxxi points. To maximise their gambling profits, many investors financed their purchase of stocks with borrowed money, with speculators buying one-thousand dollars of stock by putting down one-hundred dollars (Canterbery 2011, p.15). Of course, capitalist economys bubbles must always burst, and this was no exception. The US real economy was showing signs on a slowdown long before the stock market crash. However, on Wednesday October 23rd 1929, a drop in the stock market lost four months of previous gains and the following day panic selling began. This was curtly halted by a meeting of the nations biggest bankers who promised to pool their resources to halt the slide. Their efforts however were futile and on Black Tuesday October 29th the bottom fell out of the market, giving up all of the gains of the previous division (McNally 2010, p.65).Most economists agree that the great depression that ensued lasted for over ten old age. Its economic affect was striking as GNP fell from a peak of $104.4 zillion in mid-1929 to $56.6 billion in 1933. Its social impact was counterbalance more harrowing as twenty-five percent of the US civilian labour forces was unemployed by 1933, the worst point of thedepression (Canterbery 2011, p.18). There are a number of competing explanations as to why the crisis was so severe. Explanations can be grouped into the two categories of monetarist and non-monetarist. For example, in a mixture of the two Ben Bernanke (1983) suggests that in that respect were three interlinked factors that propagated the great depression. The first was the failure of financial institutions, in particular commercial banks. The share of failing banks in 1930 was 5.6% jumping to 12.9% in 1933 and this left a situation whereby in 1933 there were fractional the number of banks that had been operating in 1929 (Ibid, p.259).Bernanke goes on to cite s shed light ons and bankruptcies as key, with the ratio of debt service to national income dismissal from nine percent in 1929 to nearly twenty percent in 1933. This was pervasive across all empyreans with home mortgages farm mortgages, personal debtors and even state governments defaulting on their obligations (Ibid, p.260). However, key to Bernankes view was the correlativity of the financial crisis with macroeconomic factors. The crux of this view was that the financial crisis affected the macro-economy by reducing the quality of certain financial services, primarily realization intermediation (Ibid, p.263). In line with the monetarist view, it could also be argued that the Federal make did not help matters. Its policy at the time was only to increase the credit base in line with requirements of trade, which basically meant that as businesses were afraid to borrow, the Federal Reserve did not increase the money supply. close to similar to the monetarist elements of Bernankes analysis is that of Friedman and Schwartz (1971,pp. 359-60) who argue that the crisis that originated in the United States was a domestic construct which was drawn-out and deepened by a failed policy of failing to cut the discount rate, which meant a failure to provide credit and expand the currency. Kindleberger (1986a) taking a similar monetarist position but focusing more on international factors suggests that the world depression stemmed from reparations and war debt, the overvaluation of the pound, the return to the gold standard in Britain and an undervalued French franc. These factors were aggravated by a fall in commodities and a rise in stocks in sassy York. From a non-monetarist perspective US government actions were no interrupt, with the introduction of the Smoot-Hawley Tariff in mid-1930, sparking of a wrap of protectionist tariffs around the world and a trade war which saw world tra de figures nosedive (Canterbery 2011, p.19).Thedeflationary process was exacerbated by the huge levels of unemployment, which combined with different factors to initiate the multiplier/accelerator interaction, reinforced by wage-cut enforced under-consumption as wages fell for manufacturing production workers by at least thirty-one percent between 1929 and 1933, as well as debt deflation and international interactions (Devine 1994, p.166). While this was happening, consumer prices only fell twenty percent during the 1929-33 period. This, as Devine points out helps to explain that falling consumption was a major factor in the go under in GNP during this time, more so than previous or subsequent recessions (Ibid). There are others such(prenominal) as Temin (1976) who suggests that monetarist explanations are wrong, and it was consumption and spending that declined first, therefore leading to a tightening of the money supply. Therefore, it was not monetary factors alone that caused t he depression.Taking a variant approach to explaining the depth and length of the depression, Kindleberger cites the lack of a lender of last resort as the major factor preventing any form of fast recuperation (Kindleberger 1986b, p.4). This he suggests was due to Britains inability after the First introduction War, and the United States unwillingness to act in that regard. What each of these arguments above show is there is still no consensus on the policy responses that would have prevented such a deep depression occurring. Such a lack of a consensus has also been a feature of the current global crisis. Since the global financial crisis broke out, many have rushed to make comparisons between it and the great depression. However, before one makes these comparisons, an analysis of the fundamental differences in the nature of the capitalist dust between now and then must be undertaken.After the World War boom in output and the post-war move to Keynesian economics, which essential ly saved capitalism from self-implosion, the emergence of neoliberal capitalism in the latter 1970s in the form of Reaganism in the US and Thatcherism in Britain ushered in a spic-and-span era of capitalist development that was distinctly different from its previous incarnations. This period of capitalist modification saw the creation of the era of what Canterbury has termed casino capitalism (Canterbery 2011, pp.83-121). He suggests that this era began with three powerful forces converging. These were monetarism, which Milton Friedman advised Regan would run down inflation with minimal effect on employment or production, the influence of theneo-Austrians who sought to degrade state influence over entrepreneurs through and through deregulation and finally, the pervasive idea that less taxes on the rich produced the trickle-down effect (Ibid, p.83).Regans policies during this era, continued under the Clinton administration gave huge power over to Wall St through deregulation, and contributed to a huge shift from production to financial services. As the financial sector grew its asset base, it became a much bigger part of the national economy. This can be seen in the fact that between 1978 and 2005, the financial sector grew from 3.5 percent to 5.9 percent of the US economy in GDP terms. To put this in perspective, from the mid-thirties to around 1980 the rate of growth for the financial sector was roughly the same as that of the non-financial sector. However, from 1980 to 2005 financial sector profits grew by eight-hundred percent, compared with two-hundred and fifty percent for the non-financial sector (Ibid, pp.116-117).This form of capitalism, where value and profit are not produced but the result of speculation is a form that gives huge power to unelected rating agencies and bankers to set the agenda, which even governments and international institutions find difficult to alter. It was under this system of capitalism that the global financial crisis eme rged. Many different arguments for the causes of the global crisis exist and whilst it can be difficult to pin down the exact causality because of its global nature, there is agreement on a number of factors. Just like its sister crisis the great depression, before the global crisis struck, the global economy went through a boom period with the world economy exploitation at a faster rate between 2001 and 2007 than in any other period in the historical thirty years (Wade 2008, p.23). Most agree that the crisis was sparked by the subprime mortgage bubble collapse in the United States. However this spark was not the sole cause of the crisis. Just like the great depression, the factors that caused the crisis were numerous. Although signs of an appear crisis first appeared in 2006-7, it was not until 2008 when banks such as Lehman Brothers were exit to the wall and financial assets were crashing that the full bound of the crisis was realised. As a result, flows of credit dried up an d economies the world over started to suffer.However, this crisis was not solely a monetary crisis and had deeper dynamics at play. In particular, the financialisation of capitalism being built upon debts as a subject matter of making profit (McNally 2010, p.86). The subprimemortgage crisis is illustrative of this. For example, in the year 2000 there was $130 billion of subprime modify in the US, backed up with $55 billion of mortgage bonds. Yet by 2005, those figures had jumped to $625 billion in subprime loans backed by $500 billion in securitised bonds (Ibid, p.103). The speculative orgy, as Galbraith termed it speaking on the 1929 crash, was back with a bang. What exacerbated the orgy more was the creating of innovative financial instruments in the form of credit default swaps (CDS) and other debt securities. For example, by 2006 the CDS on mortgage bonds was eight times the value of the bonds themselves, so when the crisis hit, that wealth was wiped out (Ibid, p.103).The Euro pean context experienced similar problems as contagion spread throughout the world economy. change imbalances within the Eurozone created by the power of the German economy, in particular its exports produced vast wealth within Germany, generating credit that was more than was required for domestic postulate. The result was an outflow of cheap and easy credit to peripheral European states. This in turn with low interest rates created the basis for a speculative property bubble in places such as Ireland and Spain, and a rise in consumer debt across Europe (Avellaneda and Hardiman 2010, pp.4-5). This, coupled with the ECB having light regulatory practices and liquidity responsibilities, and the fact that the Euro project created an quasi-federal state with a centralised monetary and exchange rate policy, but had no financial control over individual states led to a disaster of structural design in the Euro which prevented adequate policy responses from individual states, who instea d were burdened with a one coat fits all, centralised Franco / German led response. It is clear that the immediate causes of the crisis were centred on excessive debt leverage or careless lending (Wade 2008, p.27). Much of this debt leveraging was in the form of the complexly structured credit securities, like the CDS, and when market panic set in following the collapse of Lehman, and this huge default risk pushed investors towards the tipping point.However, as Bernanke (2010) has pointed out, many factors were at play. Although the most prominent was the prospect of losses on the subprime market when the housing bubble burst, the system vulnerabilities as well as shortfalls in government responses explain the severity of the crisis. For example, the sudden stop in June 2007 of syndicated lending of asset backed securities to large borrowers. Other factors included theoverreliance of banks on short-term wholesale funding, deficiencies in private sector risk management, an over-rel iance on ratings agencies, excessive leverage on the part of households, businesses and financial firms, statutory gaps in regulation on special purpose vehicles and a failure of existing regulatory procedures ecumenic (Bernanke 2010). Although causality had similarities between the United States and Europe, the policy responses to deal with the crisis have been markedly different. Quite early into the crisis, by chance learning from past mistakes from the great depression, the US government approved various Keynesian inspired fiscal stimuli and financial and auto sector bailouts. In particular, the Troubled Asset Relief Program (TARP), a $700 billion rescue fund for the banking sector which bought toxic loans at chastend rates (Nguyen and Enomoto 2011). This policy has been seen to be a relative success with an estimated final cost of $32 billion to the United States taxpayer (Congressional Budget Office 2012).In contrast to this, the European solution has been overwhelmingly au sterity based, and the cost of the crisis being mainly burdened by the taxpayers of Europe. In particular, the Irish taxpayers bill for the bailout of one bank, Anglo Irish will cost the taxpayer more than the do final cost of the TARP program in the United States. In this regard, it does not seem that lessons from the great depression have been learned in a European context. When we look to the rates of unemployment over the past number of years, it seems like the American policy of stimulus may be working slightly better than the European austerity agenda. For example, in the US unemployment rose sharply after the onset of the financial crisis going from 4.6 percent in 2007, to 7.2 percent in 2008, 9.3 percent in 2009 and 9.7 percent in 2010.However, in 2011 there has been a decline in unemployment to 9 percent (Index Mundi 2012). The European Union (twenty seven members) on the other hand has seen its unemployment rate grow from 8.3 percent in 2006, to 9 percent in 2009 and 9.7 percent in 2011(United Nations Economic Commission for Europe 2012) to a current figure of 11.7 percent (Eurostat 2012). So, how does the global crisis match up to the great depression? It is obvious that there are a number of similarities between the two crises. For example, with both crises there was an extended period of economic growth preceding the crashes. Each of the crisis periods also saw speculative bubbles based on the flow of easy creditwhich fuelled both property based and stock market excess. Both crises also saw staggering drops in Industrial production and increases in unemployment. However, there are also key differences between the great depression and the global crisis. Primarily, the nature of the capitalist system has changed fundamentally from productive industrialisation to financial capitalisation.The policy responses of governments have also showed that lessons have been learned, especially in the American case, where Keynesianism and central bank interventi on has been preferred to the Laissez-faire attitude during the great depression. In a European context, the decision to make taxpayers foot the bill for the losses of financial speculators marks a departure from the policies of the great depression where speculators suffered heavy losses. There are of course other key differences between the two crises in-so-far as although initially the global crisis seemed every bit as bad, if not worse than the great depression, there are now signs that this may not be the case. For example, by measuring from the peaks in industrial production the decline in industrial production in the nine month period from April 2008 was at least as severe as in the nine months following the June 1929 peak (Eichengreen and ORourke 2009). Similarly, in that initial nine month period, global stock markets were falling even faster than in the Great Depression and World trade was also falling much faster than in 1929-30 (Ibid). However the authors of this study ha ve rewrite their analysis for 2012 and it paints an altogether different picture.The levels of industrial production had shown shoots of recovery over the past couple of years but growth of global industrial output now appears to be slowing. The upturn had been promising, but this follows months when production was essentially stagnant. Notably in the Eurozone, industrial production declined (Eichengreen and ORourke 2012). Since initial early forecasts, global trade had showed signs of recovery unless trade is now also fluctuating without direction, at levels barely higher than those of April 2008 (Ibid). As the authors also point out, while equity markets have recovered to a large degree compared with their initial drop, it is worth sight that world equity markets remain considerably below pre-crisis levels (Ibid).The somewhat gloomy outlook is confirmed by the latest United Nations World Economic Situation and Prospects pre-release document which states Four years after the sm ash of the global financial crisis, the world economyis still struggling to recover. During 2012, global economic growth has shortened further. A growing number of developed economies have fallen into a double-dip recession. Those in severe self-governing debt distress moved even deeper into recession, caught in the downward spiralling dynamics from high unemployment, weak aggregate demand compounded by fiscal austerity, high public debt burdens, and financial sector fragility (United Nations 2012, p.1).So, although there are signs that the global crisis may not be as severe as the great depression, recent economic forecasts do not suggest that there will be a clear path to recovery in the near future. Capitalism has been proven to be susceptible to crises and cycles of boom and bust. The two cases here have been the most high profile of those crises. It does seem that some of the lessons of the great depression have been learned to reduce the severity of the global crisis. Howeve r, only time will tell if these lessons will ultimately stop a double dip global recession and if lessons can be learned from the global crisis for the inevitable neighboring financial crisis that will come down the line.