Case Solution on Abrasm Company

————————————————- A ————————————————- Case Study ————————————————- On ABRAMS COMPANY ————————————————- Of ————————————————- Management control System ————————————————- ————————————————- Presented to Presented by: ————————————————- DR B. A.Prajapati ModiRashmi S. (24) ————————————————- MeghaniShital L. (20) ————————————————- Trada Lalit V. (60) ————————————————- RajdevBrijesh (46) ————————————————- Ozha Sandip (47) ————————————————- ————————————â€⠀Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- ————————————————- ————————————————- ———————————————— Batch: 2010-12 ————————————————- ————————————————- ————————————————- ————————————————- About The company ———â⠂¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- US company ————————————————- Manufacturing auto parts ————————————————- Selling in Domestic as well as foreign Market ————————————————- Most of the Products related with†¦. ———————————————— Automobiles ————————————————- Trucks& Buses ——————————— Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- Farm Equipments ————————————————- Product & Marketing Division ————————————————- Production Division: * ————————————————- Company works on Three Parts. 1. ————————————————- Ignition Parts 2. ————————————————- Transmission Parts. 3. ————————————————-Engine Parts. ———â⠂¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- Marketing Division: * ————————————————- Selling Through two Department. 1. ————————————————- O. E. M. department. 2. ————————————————- A. M. department. ————————————————- EXHIBIT 1 ————————————————- Partial Organization Chart —————————————â₠¬â€Ã¢â‚¬â€Ã¢â‚¬â€- ————————————————- ————————————————-Inside & Outside sales In 1992; * Total sales $500 million Inside sales (to AM div) – $100 million Outside Sales (to OEM)- $400 million * Ignition parts sales- $130million * Engine parts sales- $90million * Transmission parts sales – $100million * AM Division sales- $180 million ROI for the Manufacturing Plants * Each Plant has to meet targeted ROI. ROI = Budgeted Profit Actual beginning-of-the -year net assets Where Budgeted Profit =( Expected Revenue- allocated O/H- tax) Actual beginning-of-the-year net assets = total assets-current liabilities. Actual 1992 ROI computation- Rochester Plant Abrams company –Transmission PartsDivision ROCHESTER PLANT Profit & ROI Statement,Dec 31,1992 Sa les revenue†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦$124,866 COGS†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 73230 Gross Margin†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 51636 Operating expenses†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 20792 Division Expenses assigned†¦.. 11340 corporate expenses assigned†¦. 3420 Profit before taxes†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 16084 Taxes Imputed†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 4825 Profit†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $11259 * Net Assets Assigned as of January 1,1992 Total Assets: Cash & receivable†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. $25000 Inventories †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 12875 Property, plant & equipment at book value†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 86560 Total Assets †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 1 24435Less: current liabilities†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 26135 Net Assets†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $98300 ROI = Profit / Net Assets = $11259/ 98300 =11. 45% Suggestions to improve evaluation system: * ROI can be used combination with other performance measures-balanced set of long term/short term; financial/non-financial * EVA can be used instead of ROI. Marketing Strategies * Top Management consider OEM & AM different. * Each parts? OEM sales have to meet an Annual Sales Revenue. * The OEM department have to†¦Ã¢â‚¬ ¦. 1. Minimize inventories. 2. Control cost. * AM has to concentrate on availability of Parts. Incentive compensation Plan Appropriate 50 line & staff managers under plan. * Bonus given on basis of fixed formula. * Each participant get bonus on standard bonus point(SBP). * SBP based on hierarchical position. Standard dollar award per point (SDAP) = total of SBP of all participants total bonus pool amount Standard Bonus in $ = Standard Do llar ? Standard Bonus Point Award per point. of Participant. if Actual Profit ^ 4% more than budgeted, Manager get 25% more standard bonus. Evaluation of incentive compensation plan: * The performance is measured by compare of actual profit and budget profit. All the measurement is associate with data, sometimes the performance will be influence by variance elements, such as, economic environment, the demand level, material price, cost of labor, and government policy, so the measurement need to improve in some areas. Suggestions: * The non-financial performance measurement system should be established. * The balanced scorecard is a good choice for company measure performance. With a good performance measurement system, the incentive compensation plan will be improved. Problems encountered with Management * Some dispute over transfer pricing. Bias with AM division on placing order of parts. * All divisions using too much inventories. Question- 1 Evaluate each of the concerns expresse d by top management, & if necessary, make recommendations appropriate to the circumstances described in the case. Ans-1 * Management has 3 main problems: 1. ROI Behavior. 2. Transfer Price disputes 3. Operational trouble shouting. Recommendations * Company should use EVA rather than ROI. * Company should control the investments separately using NPV and capital turnover measures. * Bonus should be based on the budgeted income level. * Company should change the TP method. It will give all internal partners full information about the cost structure and company will avoid â€Å"upstream fixed costs†. Question- 2 What is your overall evaluation of Abrams? management control system ? Describe strengths or weakness that you identified but did not include in answering the previous question. What changes, if any, would you recommend to top management ? Ans-2 * Company Management Control System was poor. * Company failed to minimize the cost and to control inventory level. Strength * T he company has a clear management structure. * The company has employed a bonus plan for employees. The AM Marketing division will input products form the other three divisions, and sell it to domestic and foreign market, it helps the company save cost when it input internal. Weakness * The Abrams Company has three totally independent divisions, and the three divisions are lack of connection. * The transactions between the three divisions dispute the transfer pricing. * OEM customers preferred than AM. Suggestions * Top management should try to control inventory level. * Company should use non financial measures like inventory turnover. * If it is an strategic issue company should connect this measure to the bonus system.

Ratio annlysis

Current ratio is always larger than quick ratio, it may because that inventory is overstated. Inventory turnover ratio has a relatively slight rise , it also can be an indicator for the overstated inventory.As per the current ratio, overstating inventory allows Santa to avoid booking expenses and reduces the cost of goods sold. It could also indicate obsolete stock problems. Ratio Explanation Account Key assertion The change in current ratio compared with the previous year, supports the idea that inventory could be overstated. As a decrease in inventory lead to a decrease in gross margin, the auditor would be concerned that inventory is overstated.Inventory Existence Overstating inventory allows Santa to avoid booking an expense now and also rates a larger asset base. By overstating inventory. Management can reduce the cost of good sale. In order to overstate inventory, management may book sales for inventory that does not exist or miscalculate costs . Days in inventory The increase in days in inventory inventory Existence and valuation As per the current ratio, overstating allows management to avoid booking expenses and reduces the cost of goods sold, it could also indicate obsolete stock problems.

The Burning Giraffe – Salvador Dali

2 â€Å"The Burning Giraffe† is a surrealistic painting by the artist Salvador Dali, done circa 1936. Using a variety of blues, blacks and browns, the piece depicts a bleak, sad, and cold scene. Scenery such as this was very popular amongst modernist painters. The painting, through color choice, showcases the futile, dark, and dreamy feeling epitomized by modern art. Beyond the color scheme, subjects of the painting, also, are clear representations of what modern art is. The two female figures fall in line with the rest of the painting, giving off a sense of loss, despair, and once again, a dream-like quality.The very definition of surreal is â€Å"marked by the intense  irrational  reality of a dream. † There’s no possibility that the images depicted in the painting would ever take place in reality. There’s no clear rational for what’s present in the painting. Both of the figures have unclear oblong objects sticking out of their backs. These ob jects are propped by what look like crutches. The first female figure seems to be missing a layer of flesh on her arms and face, revealing muscle beneath.Farther back into the painting, the second figure is holding something looking similar to meat or muscle tissue. In the distance of the painting is a giraffe on fire. Even the stance and figure of the two females shows the dreaminess. The lines are very fluid and relaxed as in the overall scenery of the painting. There’s a very ominous feeling to it all. Surreal artists and  viewed their work as an expression of the philosophical movement,  inspired by psychologist Sigmund Freud, and placed much emphasize on the unconscious.This particular painting was inspired by this thought process as Dali took much interest in it. The movement was centered on the idea that there were certain thoughts and emotions only accessible though psychotherapy. The drawers protruding from the first female figure’s chest and legs represen t the opening to deeper subconscious thought and feeling. The draws show a literal representation of this. All are characteristics of a surreal piece, found in modernistic art.

International Business management Essay Example | Topics and Well Written Essays - 4000 words

International Business management - Essay Example Here once this has been identified, details of the best market entry method are then discussed. As in the case of any market entry method, there are a number of possible issues that will be encountered. Hence these issues and problems are further discussed along with providing strategies to overcome these issues and problems. On the whole the paper will detail a market entry plan for a company. The chosen company here is Primark. Firstly it is crucial to gain a clear overview of the company. Primark has been known throughout the country for the excellent quality of the products and the low prices for the clothing. Primark was started way back in 1969 under the name of Penneys in Ireland. The company has worked its way up and has been able known for the continuing success. The company has grown from a simple first store Penneys in Ireland to the latest flagship store in Liverpool. The company showed immense success in the first year of its beginning and by the end of the third year of its incorporation, the company had as many as sixteen stores in Ireland and Northern Ireland (Primark, 2010). As years passed the company went on to move into Great Britain. The company had started as many as 18 stores in Ireland by 1973 and now had started as many as four out – of – town stores. Within the next year, the company has been noted to have started as many as 22 stores each in Ireland and Britain. Later in 1984, the company was known for the multiple acquisitions t hat took place. Primark had acquitted as many as five Woolworth stores. With years to come there were further expansions of the company and Primark showed immense ability and success. The company has been well received within the country. Entering international markets requires high level of strategy and planning. With the increasing levels of technological innovation helps create markets for new products and services. A mode of entry into foreign or international markets is the normally referred to the

American and Chinese Manufacturers in the Future Case Study - 2

American and Chinese Manufacturers in the Future - Case Study Example They are helping products move into quality and reduce prices. The American manufacturers can look for ways to reduce their costs so that they make products that are not expensive to the buyer. The manufacturers can cheap raw materials and make quality products. They can react fast to new technologies and make better products.   The American manufacturer can have high levels of secrecy in the production of its products. There should be no exposure of the technology they are working on. They should also release products into the market without staying for long in other countries like China. The Chinese cloners will not have time to make their clones and sell them as the first sellers. The American manufacturers can also work with the Chinese law enforcement groups to catch the cloners.   I do not think that we will all be forced to learn â€Å"Chinese manufacturing† 10 years from now. There will be changes in the manufacturing processes and new rules and manufacturing policies. This means that the world will not only see Chinese manufacturing as the only way to manufacture. The American manufacturing will also try to deal with challenges that cloners bring.   I think the federal government should talk with other governments from countries where counterfeits and cloning are high.

Human Memory Essay Example | Topics and Well Written Essays - 1250 words

Human Memory - Essay Example In contrast, as is attested by anyone who knows a person ravaged by Alzheimer's disease, even with normal sensory input, lack of memory is profoundly debilitating (Smith 267). Earlier work in the study of memory was confined to association between stimulus and response. However, current studies emphasize cognitive or mental processes over stimulus response association ( Morgan 184). How does the brain memorize information In order to answer this question, one must study the three stages of memory- encoding, storage and retrieval. Suppose you saw a parakeet for the first time in your life when your friend showed you one in the park last week. Subsequently when you went to the bird sanctuary today and saw a similar bird you immediately recognized it as a parakeet. This simple act actually entailed three steps; when your friend showed you the parakeet, you transformed the information that this bird is called a parakeet( the sound input) and that's what it looks like (the visual input); which are physical inputs into the kind of code that your memory would accept. This stage is called the encoding stage. The storing of this information for a week was the storage phase and when you retrieved the information to recognize the bird this morning; that was the retrieval stage. Memory can fail yo Memory can fail you at any one of these stages. Recent studies have shown that while encoding most of the activated brain regions are in the left hemisphere and during retrieval in the right hemisphere. Long Term and Short Term Memory. When a friend gives you his or her phone number verbally, its relatively easy to repeat it immediately. However recalling it after a day becomes difficult. Repeating the number immediately is an example of short term memory while recalling it after a day is constitutes long term memory. Experiments on small mammals and observation of people with damage to some parts of the brain have shown that the hippocampus a brain structure beneath the cortex is responsible for short term memory; whereas, the front of the cortex is responsible for long term memory (Atkinson 258). Usage Of Different Memories For Different Types Of Information Recent evidence has indicated that that different types of memories are used to store two different types of information; a fact such as the name of the current president- this uses explicit memory and a skill such as playing a piano- this uses implicit memory ( Atkinson 259; Smith 269) Even though short term memory involves recall of information in a few seconds it still goes through the three stages of encoding, storage and retrieval. To encode information we must first attend to it. Most issues with memory lapses can be attributed to a lack of attention. Since we are selective about what we attend to; only that memory will be encoded and can later be retrieved. The three types of coding used are- visual when the input or representation is visual such as a picture, acoustic when the information is verbal, such as somebody saying something, and semantic when the infor

Global Strategic Management Assignment Example | Topics and Well Written Essays - 1000 words - 2

Global Strategic Management - Assignment Example The latter entails using similar and confusing trademarks or service marks on a similar, not fake, product or service. Counterfeit goods are sold around the world. However, the vice is more prevalent in developing countries where it is relatively cheaper to produce a product (Sullivan & Chermak, 2013). For instance, Taiwan and China in Asia are exceptionally prone to counterfeiting. The practice is also found in developed economies, albeit to a lesser degree. Counterfeiting is not only illegal, but also unethical. It is unethical because it involves profiting from another person’s sweat, so to speak. The producers of counterfeit goods are not prepared to introduce their brands and grow them. Instead, they cut corners and try to profit from established brands behind the backs of their owners. The world over, business organizations adopt a variety of measures to address counterfeiting. These can be business, legal or technological. An example of a legal measure is an organization registering their trademarks. Today, it is common for large multinational corporations to have the various components of their manufactured in different jurisdictions then ship them to the assembly plant. Usually, this mode of operation is designed to take advantage of the advantages that various jurisdictions have to offer. For example, a manufacturer of smartphones located in Singapore may have their battery manufacturing plant situated in Finland. Under these circumstances, the smartphone manufacturer will do well to have all their trademarks registered in all the jurisdictions where parts of the smartphone are made. This is in addition to registering those trademarks in all the countries where the finished phones are sold. Some of the business measures that organizations take to combat counterfeiting include creating and maintaining an anti-counterfeiting department (Spink & Fejes, 2012). The key role of the department to initiate and implement measures to prevent the

Running Water and Ground Water Essay Example | Topics and Well Written Essays - 1500 words

Running Water and Ground Water - Essay Example Rains maintain a balance through which water is maintained in the fresh water resources. Running water is the water that is present in the streams. It runs down due to the force of gravity. Groundwater is the water that seeps down from the surface and gathers under the surface in an aquifer or underground reservoir. It rains on mountains quite often, the water from the rain rushes down the mountains due to the force of gravity. At first stage, small streams are formed that combine together to make a bigger stream, streams connect together to form a river. The water in the streams and rivers is called running water. In the similar manner, due to change in temperature from winter to summer, the snow on mountains melt into water. The water rushes down the mountain due to the force of gravity. Running water has high oxygen level and most of the needs are satisfied with the help of running water. Running water is also utilized to generate energy. In olden days, the force of running water was utilized to crush wheat cornels (Hynes, 1983). Ground water is the type of water that seeps down into the surface and settles down in an aquifer or underground reservoir. This water is also the rain water but due to saturation of ground the seeps down to the aquifer. As the quantity of water above the surface decreases, the quantity of water undergrad also decreases. However, annual rains and snowfalls replenish the underground water through the saturated grounds. Wells lie directly over the aquifers. Underground aquifers are good in holding water for longer periods as compared to the above ground water resources. There is no evaporation of water from the underground aquifers. However, little water that comes to the surface due to capillary effect evaporates form the surface (Hynes, 1983). Aquifer is an underground soil or group of rock that allow the underground water to pass through them and move according

Social and Environmental Accounting Research Paper

Social and Environmental Accounting - Research Paper Example This report states, Western Australia has implemented a water minimization program in 1997 and its implementation led to the reduction of usage of water, saved the company thousands of dollars and reduced their level of reliance on the water that is supplied by the municipal council. The objective of implementing this program was to optimize the water supply and also reduce the rate of consumption of poor quality drinking water that could be a health hazard to the residents of the area and minimize the flow of untreated waste water that was being discharged to the environment (BP, 2006). BP refinery processes over 138 barrels of oil per day .The refinery equipments and machinery ensures that the raw materials are processed into complete finished products. The management of the company found it worthwhile to be conservative after becoming more water conscious and water efficient. BP implemented various strategies that were aimed at improving the rate of performance within the organization. The strategy includes; delivery of water that is of high quality for consumption, minimizing on the cost of running the operations of the organization and maximizes the profits of the organization. It also minimizes the potential environmental risks from water that is being dis charged from the environment (Bp, 2006). The managemenThe management of the BP Company published the sustainable report 2007, addressed issues that are related to the observance and recognisition of the audience as important persons within the community. It also states that the major stakeholders' role within the community involves meeting the needs and wants of the customers within the stipulated period of time. The major stakeholders include academicians, investors and other non-governmental organizations (Appendix 1, Bp, 2007, cover page). BP sustainability refers to the capacity to endure and meet the needs of the people through renewing their assets, creating and delivering different kinds of products and services that can meet the needs of the people within a given period of time. It also refers to the process of ensuring that the rights of people are respected and observed in order to enable them carry out the tasks that have been assigned to them and also ensure that the operations and activities carried are undertaken in the appropriate manner. Moreover, Bp also ensures that the mutual trust and support that is bestowed on the customers, shareholders and the communities is maintained so that the activities of the company can continue into the foreseeable future (Burke, 1999). In similarity to BP water minimization program, Thames report was prepared and aimed at identifying the cause and solutions of flooding observed in Bowmonts Road. This report states the impact of the proposed development in River Tadley that would have been undertaken on the network. Besides that, is also intended to identify the options that can alleviate foul flooding in the region and also to provide the cost estimates for options

The Big Race Essay Example for Free

The Big Race Essay The character I like best is Mrs. Wakefield because she always support her children . Sheteaches them the good things to do . She gives them a tender loving care everyday . She assure thattheir children have a good health and keep away from illness. Conflict or Problem: The conflict or problem in the story is to find a wheels for their soap-box derby cars. Another one is the strategy that they will use in the contest to beat the other contestants so that theywill win. Most Interesting Part of Story: The most interesting part of story is when the race was started. The distance betweeneach cars are too near . Ken is first while Jessica is third during the race . Todd second during therace has a problem,one of his wheel rolled off . Jessica overtake with Todd’s car . A few secondslater Jessica overtake with Ken’s car . At last Jessica won in the race. Summary: One morning in class,the twins’ teacher ,Mrs. Otis ,made a special announcement . TheSweet Valley Elem. School has decided to sponsor a soap-box derby . It’s kind of race . Each person who enters builds his or her own car . Soap-box cars don’t have engines,though, so races arealways downhill . It was after school that day . The Wakefields were in the lumber store buyingwoods and other materials for their soap-box cars . After dinner Mr. Wakefields helped the twinsclear out a space in the garage and got out tools to start building. It was Sunday and the twins were still trying to find wheels for their cars . The twinsask their mom where can they find wheels . The next day after school,Mrs. Wakefield,the twins,andsteven went to junkyard . Elizabeth and Jessica found a wheels for their cars . After they boughtwheels,they hurry up to go home,to attach wheels to the poles and put it into the soap-box cars. OneThursday morning ,Mrs. Otis announce the route for the derby . It’s marked in red on this map of Secca Lake . That afternoon ,Mrs. wakefield and the twins loaded both cars into the van . They will go at Secca Lake for practice runs . Everyone’s taking turns on the hill. When it was her turn, Jessica was flying down the hill . Then suddenly –BANG! One side of her car fell off . Then the other side . Jessica’s car was broken into many pieces. On Saturday morning,the day of big race . The cars are lined up . the first race was begun . Jessica came in sixth while Ken came in first . The final race was begun . Jessica got off to agreat start ,but Ken and Todd still were ahead of her . Then about half away down the hill ,one of the Todd’s wheels rolled off . Jessica steered around todd’s car and missed him by an inch . Asecond later Jessica and Ken were lined up . Seconds later Jessica zipped across the finished line infirst place. Moral Lesson: Don’t loose hope in a contest or race ,it is just only a challenge of God . Alwaysthink positive that you can beat all the contestants and you will be the winner.

The Impact Of The Complex Interdependence Politics Essay

The Impact Of The Complex Interdependence Politics Essay As we all know , complex interdependence is a concept developed by Robert keohane and Joseph Nye in order to demonstrate that states are completely tied together in various aspects of their national resources , whether they be economic , military , agricultural , o political amongst others. The main characteristics of Complex Interdependence are three , in first place multiple channels , because these facilitate actions between communities either they be interstate or transnational. In second place low salience , this shows the use of force as a non viable tool in international relations and offers diplomacy and policies as substitute routes , and finally in third place we have issue areas and regimes , which show us a wide agenda of topics that link states together in order to reach their objectives , in other words the line between domestic and foreign policy becomes blurred in this case, as realistically there is no clear agenda in interstate relations.. If we analyze these three points we can see this as an attempt to synthesize elements of realism with liberalism. For millennia, a large and well-equipped army was all that was required to make ones voice heard and power felt on the international scene. As technologies evolved , the possession of a powerful economy and the threat of retaliation have proved as effective , if not more effective than the exposure of weapons and the threat of war. With the growing complexity of interdependence, fewer and fewer goals are achieved by relying exclusively on military threats but also on raw economic incentives. The utility of hard power methods has in general shrunk , as it is less likely than in the past to produce the desired outcomes. The current definition of International Relations is the study of human interactions through national borders and the factors that affect those interactions. But if we look back at the origins of International Relations as a field of study in the early 20th century we can see that it was mainly centered on Great Britains affairs. After the first world war International Relations appeared as a field of study in order to understand the war , its main causes and consequences. In the early 1920s universities across Great Britain and the United States founded faculties and departments devoted on this new and vital subject that was International Relations , because experts saw the dawn of a globalization and the future ties of the states with each other , this was conceived as liberal internationalism. The first academic institution dedicated to the study of international relations was Aberystwyth University founded in 1919 in Wales. The concept of complex interdependence was created in 1977 , after the world had seen two world wars and a number of conflict situations between nations , the devastating consequences that these acts of violence left on mankind where proof of the intrinsic connections one state has with another , even if they are from different religious or political backgrounds , or if they are located on the other side of the globe. The truth is that we are all linked with each other one way or another, and that is what complex interdependence made emphasis on. This opened up a whole new world in the study of international relations , showing how dominant nations such as United States , Great Britain , and Russia where involved in interdependent relations with under developed nations. The growing rate of transnational flows and the increase in channels of communication are creating an uprising in interdependence between states and nations , these relations influence them in many ways not only referring to material needs or objects but also in political and ideological concepts. Todays complex interdependence has become a multifaceted interdependence , one that includes a diversity of issues from cultural problems to environmental concerns , far from what it used to be , solely dependant on economic objectives and the support of military strength. This in terms of international relations shows us that the evolution of international relations has gone from military and economic dominance to an environment of general concern referring to as much aspects of one notion as possible ; everything, from the strength of our economy to the safety of our cities, to the health of our people, depends on events not only within our borders, but half a world away. [à ¢Ã¢â€š ¬Ã‚ ¦ ] We must see the opportunities and the dangers of the interdependent world in which we are clearly fated to live President of the United States Bill Clinton during a press conference in 1999 -. Environmental issues are becoming very important in transnational relations today , further more than any other issue contemplated by complex interdependence. For example the biological problems we have nowadays with bacterias , viruses , and other living organisms that can have disastrous consequences to the nation that receives them. Like the A1H1 virus , that spawned in Mexico and shortly after it spread throughout the globe causing thousands of deaths and creating a tense situation for Mexicos leaders , because they were held responsible for allowing the exit of such virus to rest of the world. In the twenty-first century, British foot and mouth disease or the SARS disease originating in Hong Kong cause fear the world over , precisely because of bacteriological interdependence and the speed at which the diseases propagate through out the planet with incredible ease. Another aspect that is going through everybodys minds as far as international relations goes is ecology and all topics related , ecological interdependence is only now taking on its current importance as a result of the major advances in technology , manufacturing , transportation and mass consumption during the course of the twentieth century. One result of these qualitative changes is that any alteration in a local environment can have both major ecological and political repercussions on a global scale , creating a conservationist mentality across the globe. For example, the deforestation of the Amazon jungle has had serious repercussion as far away as Italy and Japan as well as more locally in Brazil. As a result of phenomena such as this , environmental interdependence is having increasing political impact on national societies. Japan is sponsoring tree reforestations worldwide , providing governments with monetary incentives to plant trees and creating awareness within the popul ation to help with these issues. The complex interdependence has created a major boost in international relation in the 21st century , by creating better and deeper relationships amongst nations , but certain academics have seen a growing problem in international relations in the new millennia ; while the central problem of international relations in the 20th century was states that were too strong like Germany , Imperial Japan , and the Soviet Union , the primary problems of international relations in the 21st century are states that are too weak for example Afghanistan , Pakistan , Mexico , amongst others said Thomas Friedman , of the New York times. This is mainly because these states are going to need more detailed and consistent help from the global community , this is a positive aspect for these developing nations , but it could be seen as a negative for stronger states , because of the setbacks these relations can create in their domestic economies and issues. Todays international relations experts fully understand that globalization has taken over , and that the only way nations are going to improve their qualities of life , improve their domestic economies , and be seen as a strong and potential hot spot for external investments is to create deep rooted bonds with states worldwide. Nations used to have pretty much basic foreign policies , mostly limited to imports and exports , but thanks to the breakthroughs in international relations , most foreign policies have expanded exponentially in the matters of agriculture , fiscal aid , terrorism , the environment , health , and education. After the world trade center attacks on September 11 , 2001 , the world realized that terrorism is a major threat for everyone , because it can happen to anyone , anywhere , at anytime , therefore it became a top priority topic in international relations , leaded almost entirely by the United States and Great Britain , these new alliances wanted to create a worldwide network of nations fighting against terrorism , in order to avoid such regrettable acts such as the ones lived the citizens of New York City. Another topic created taken account in recent years is the war on narcotics processing and international distribution. One clear example is the agreement between drug enforcement agencies form the United States of America and Colombia , also known as the plan Colombia which basically consists in D.E.A cooperation with police training and financial aid. Without complex interdependence international relations would never be as important and as relevant as it is today , because without it nations would still be focused on domestic issues , and wouldnt be as concerned of other aspects of nations problems , because if it wasnt for the current interdependence situation states would only be interested in military power and economic benefits they could obtain from other nations. The 21st century is only beginning and the problems that the world and its nations are going to face to face are only revealing their selves, this is going to mean more work for embassies , consulates , diplomats , and heads of state worldwide in order to join together in search for the greater good. WHICH IS THE IMPACT OF COMPLEX INTERDEPENDENCE ON THE EVOLUTION OF INTERNATIONAL RELATIONS AS A DISCIPLINE AND WHICH ARE THEIR THEORETICAL PERSPECTIVES FOR THE 21ST CENTURY? INTERNATIONAL RELATIONS ESSAY JULIO URIBE RESTREPO #200710122002 UNIVERSIDAD EAFIT MEDELLIN 2010

Packaging for the new product Essay -- Design and Technology

Packaging for the new product Packaging is vital, as goods need to be transported to the consumer in a safe, hygienic and protected condition. For instance putting tin foil round a kitkat, nestle product, keeps the bar fresh and prevents deterioration, instant coffee tends to be sold in jars to prevent spillage and because glass is a strong material, Nescafe Espresso roast is sold with ‘click lock closure’, which makes the jar easy to open. Additional packaging may be needed to assist retailers store the products easily and safety on the shelves. Packaging is essential to inform the customer about the contents, ingredients, weight, care instructions, etc. Some of which are legal requirements. Good packaging is an important part of the product. The basic function of packaging has always been to protect and contain a product. In a competitive market, branding and packaging are important and have become an integral part of the product. We instantly recognise products by the size, shape and colour of packaging. Packaging may be used by the manufactures to promote the goods, as the colour, design or lettering may make the product more attractive and noticeable to certain consumer on the shelf. Packaging is not just a safety attribute, different features are added to packaging to attract different segments, for example a children’s crisp might have colourful cartoons, entries to competitions or even a mini game on back of the packet. These types of product...

Customer Service Essay -- Business Management Studies

Customer Service Many business organisations have different definitions of customer service. For example, according to the Chartered Institute of Marketing, â€Å"Customer Service is what your business delivers to achieve customer satisfaction†. Another example is, according to the ACA Group, â€Å"Customer service is the ability of an organisation to constantly and consistently give the customer what they want and need†. All business organisations need to make certain that their customers are satisfied with the service they receive because; customers are the most important part of any successful organisations. Businesses such as, Barclays aim to exceed customer expectation in order to ensure that customers enjoy themselves, leave having enjoyed themselves and return in the coming future. Good customer service makes customers satisfied by fulfilling their needs first. Good customer service requires all staff to place themselves in the position of their customers. All staff should be aware of how they would like to be treated if, they were a customer, and deal their customers, for that reason. All business organisations should complete the A.R.T. of great service, to carry out a good customer service: Approachable- An organisation must create an open and friendly environment that will influence customers to come in with self-assurance so that, their matter can be dealt with. R esponsive- All staff should take responsibility of their action. Customer service should be flexible and provide precise and honest information, at all times. Timely- All customer services provide their services accurately and efficiently to new and existing customers, at all times. The following are the main activities of customer service: Ø Providing information Ø Giving advice Ø Providing assistance Ø Providing credit facilities Ø After-sales service Providing Information The type of information will depend on the product or service. Here are some examples, is the wool jumper flammable; how much is that laptop; when can you deliver the double-sized bed, what after-sales facilities do you provide? Getting the correct answers to these questions depends on the product and service knowledge of the sales staff, i.e. how well they have been trained. Giving Advice Advice is more accurate than information because, it involves more detail, greater specialist knowledge and modified to t... ... For example, to be faithful to the customers 3. Lost customers-For example, to encourage dissatisfied customers to complain 4. Employees- For example, to give staff training, to deal with complaints and problems quickly When receiving a complaint from an unhappy customer, the business must carry out the following: Ø Listen to the customer’s story Ø Ask for invoice/receipt to show date of purchase Ø If customers is angry, report to a manager Ø Examine the product When dealing a complaint from an unhappy customer, the business must carry out the following: Ø Advise customers of their views such as, legal requirements Ø Make an offers to customer such as, refunds or replacements Ø Give a receipt for products Ø Write on credit note any expiry date Many businesses record customer complaints so that, they can review the matter, and to improve its customer service. Details of each complaint can be recorded in several ways. For example, IKEA records all telephone complaints and directs them to the call centre at Stockport. Details of each complaint can be recorded onto the computer. Also, details of each complaint can also be recorded onto the ‘Customer Complaint Form’.

Free Essay - Nora in Act 1 in Ibsens A Dolls House :: Dolls House essays

The Character of Nora in Act 1 of A Doll's House The character of Nora, of Isben's A Doll's House, is particularly difficult to interpret. Her character is constructed by the combination of a number of varying traits.  Ã‚   Throughout Act 1 her ambiguity is particularly prominent. Her frivolous, playful moments are readily followed by moments of practicality and astuteness. It is not surprising that Nora is such a changeable character for she is constantly interchanging between three main roles: a supporting wife, fundamental mother and sexual being. Ibsen uses the metaphor of a doll inside a doll house to portray Nora's attempt to become an individual while confined inside a male dominated world. Her wish to become self motivated is obstructed by Torvald's power over her.   Nora's home is the realization of domestic bliss, preserved and presented like "A Doll's House." Lacking experience of life in the real world and oblivious to the outdoor hardships, Nora is vulnerable. She enters muffled in protection from the outside, portrayed symbolically through her coat, scarf etc. Immediately, Nora appears childlike and coquettish. She orders Helene in an excitable tone to hide the Christmas tree as the children "mustn't see it till tonight." Nora's secretiveness   in wanting to hide the tree, extends further, and is a constant theme. Following Torvald's light- hearted interrogation with regard to whether she has had any macaroons, she becomes nervous and lies, "No Torvald, I promise...No No...Torvald I swear." Of course, this is particularly important as the entire play rotates around Nora's "big secret."   With the entrance of Krogstad, Nora's sense of fun abandons her. Her attempt to enforce her social superiority over him is genuinely intimidated. In her ambitious attempt to be superior she states "one isn't without influence". However, within moments she is forced into pleading "Mr. Krogstad, I don't have any influence." Nora's stereotyped roll as a doll confined to a doll's house constantly being fathered by Torvald encourages her childlike manner. However an entirely different contradicting side to Nora's character is revealed when Nora explains exactly what she did "for Helmer".   Although Nora is a woman who shirks or is probably unaware of her responsibilities (particularly with regard to her children who are under permanent care of Ann- Marie) here she has, apparently, fulfilled something of her duty as a wife.   Her personal attitude to her action, which in her mind saved "Torvald's life" is very childlike.

Baby Pacifier: The Symbol of “Me” Culture

Baby Maggie of the Simpsons has contributed to the popularity of baby pacifiers, with her incessant sucking, which can speak volumes, depending on the situation of her family. Baby pacifiers have been part of the American culture for a long time that they have evolved into many names, â€Å"soothers, dummies, Binkys,† report Kalb and Whitford in â€Å"Big Binky Brouhaha. † Binkys seem like ordinary tools for calming babies to sleep or silence, but it can also launch some of the most glaring criticisms of American culture.The baby pacifier represents the overwhelming â€Å"me† culture of Americans, because it stands for autonomy, narcissism, and the paradox of social detachment-attachment. The baby pacifier represents the democratic principles of American culture, wherein parents give the autonomy to babies in choosing when and where to use their dummies. When American babies cry, mothers often interpret it as a sign of distress, and they immediately attend to the m.In a study of parenting attitudes among five ethnic groups in the United States, Jambunathan, Burts, and Pierce (2000) observe that European American mothers are most likely to interpret baby cries as calls for help, and so they respond more eagerly to these cries than Asian American, Asian Indian, and African American mothers. The latter ethnic groups are also concluded as possibly more detached to the needs of their infants, because they often live in extended family arrangements and attend to other needs.This article indicates that American parents tend to provide greater autonomy for their children. On the other hand, autonomy has its dark side, narcissism. A baby wants a pacifier, and because she wants, she gets it. The book â€Å"The Narcissism Epidemic† by Twenge and Campbell (2009) illustrate how narcissism is growing everywhere in America, which leads to hostility, materialism, and superficial values.In one example, they describe the Blinky and its connection to th e materialist and self-centered nature of modern parenthood, and modern American culture, as well: â€Å"Babies wear bibs embroidered with ‘Supermodel’ or ‘Chick Magnet’ and suck on ‘Bling’ pacifiers while their parents read modernized nursery rhymes from This Little Piggy Went to Prada† (Twenge and Campbell 2009). This is an example of how parents are subconsciously training their babies that they can have anything they want, just because they want it. Baby pacifiers can symbolize the revolution of the â€Å"me, me, me!† culture, which is levels higher than the simple and initial â€Å"me† culture, which only demanded what is due to the individual, such as basic civil rights. Baby pacifiers also signify the inconsistency and problems of social detachment-attachment in American relationships. In a news article, Kalb and Whitford interview a mother Janna Bosshardt, who would have preferred to not use a pacifier, but was forc ed to because her third child, Cale is â€Å"an Olympic-level screamer,† and she believes that â€Å"A pacifier was the only thing that would calm him down.It was for his sanity and mine. † A personal interview with a mother of two kids also confirms the tug-of-war between detachment and attachment. Bearns describes how pacifiers make her insane and sane all at once. It makes her insane, because she is allowing the pacifier to do her own job of paying attention to her baby’s needs. Still, the pacifier also makes her sane, because she will have more time to work. She says: â€Å"It’s hard to admit, but I am making pacifiers a pseudo-parent. I should breastfeed, but I don’t have the time.† These notions of what should be done with baby pacifiers embody the detachment and attachment in American culture. Americans want to give more love and attention to their children, because of the work-life balance they aim to pursue. Yet, they are still seei ng family-work conflict, as something they must do away with, by using easy and quick resolutions (Mortazavi et al. 2009). Baby pacifiers signify something gained and lost. Children learn autonomy, wherein they can get what they want.But they forget that they must also work hard for what they want, and they must also take time to reflect on their actions and its consequences. Baby pacifiers also embed narcissistic and detachment values and practices that weaken American relationships. What is lost in this hyper-individualistic culture is human bonding and the realization that every choice, no matter how small, can have grave consequences. Finally, fundamentally missing in the â€Å"me, me, me! † culture is the idea of being â€Å"We. † Works cited Bearns, Jennifer. Personal interview. 27 July 2010. Kalb, Claudia and Ben Whitford.Big Binky Brouhaha. Newsweek 146. 18(31 Oct. 2005): 33. Jambunathan, Saigeetha, Burts, Diane C, and Sarah Pierce. Comparisons of Parenting Att itudes among Five Ethnic Groups in the United States. Journal of Comparative Family Studies 31. 4 (2000): 395-406. Mortazavi, Shahrnaz, Pedhiwala, Nisreen, Shafiro, Maggie, and Leslie Hammer. Work-Family Conflict Related To Culture and Gender. Community, Work & Family 12. 2 (May 2009): 251-273. Twenge, Jean M. and W. Keith Campbell. The Narcissism Epidemic. New York, NY: Free Press, 2009. Web. 27 July 2010 < http://today. msnbc. msn. com/id/30312181>.

Lifestyle of a Stripper Essay

Strippers, prostitutes and porn stars are the forgotten women of American society. Men adore them for their sexual prowess. Women despise them for their blatant sexuality. Prejudiced against as a result of their career choices, these women are truly outcasts. Exotic dancing in the United States is often considered an immoral activity. Women in the exotic dancing world are the subjects of scorn and ridicule all across the country. However, some women are able to take this situation and turn it to their advantage. By creating an illusion or fantasy in the three main areas of the club (the stage, the floor, and back room) many dancers feel that they are able to elevate themselves to a position of power over the patron. This perceived power not only allows the dancer to have control over the situation, but also allows the dancer to make money and possibly other material gains. In this paper, I will attempt to extract strippers lifestyle and there occupation as they live the life of a str ipper. Some strippers love to strip (exotic dancing in nude) because they enjoy the environment and the lust that follows it. A dancer in San Francisco feels different about exotic dancing. She thinks of it as an art, and she feels that she can create her own performance when she’s on stage as she can choreograph her moves and her likes. â€Å"I love the dancing; I love the art of it. I love to be on stage performing, and I love to create new stuff to perform. There are some basic things you have to do,† she explains, â€Å"like be totally naked by the end of the dance, do something with the pole at some point, and make sure that you’ve touched yourself, but other than that, anything goes.† She explains how she can easily act or perform on stage. College students actually chose stripping as a side job. Employed at a strip joint can give them some extra cash. Like many students at universities across the country money can be a problem. School, rent, phone and water bills add up and this does not even include spending money. Because of the pressure from mounting bills and money needs, students decide to look for a job as a stripper. As a full time student any job that can fit his or hers schedule would be perfect. Strippers have very flexible hours. A job where he or she could work three or four times a week, for about twenty hours total, would be great. Pay is another factor in the decision process. Like  this article where a student explains her first night as a stripper. â€Å"The hardest part for me at first was not the dancing itself onstage, but actually talking to the patrons in the club. At the end of my shift† The student explains, â€Å"I left the club with a little over five hundred dollars, I only worked for five hours.† After that I was hooked on dancing. There were also more benefits than just the money,† comments the student. â€Å"The hours were flexible and I could work just three or four nights a week.† This fit in well since the student needed the extra time to get class work accomplished. In the city of Las Vegas, were the professional strippers get paid two hundred thousand dollars a year. Due to the negative connotations associated with exotic dancing in the United States, one may begin to ask how these ideas affect the minds and therefore daily lives of the women involved in the world of exotic dancing. Some negative draw backs of becoming a stripper are the introduction to drugs an so forth. Because exotic dancing has a negative reputation in the United States, one wonders what affect the business has on the personal lives of the dancers. Being an exotic dancer can ruin ones relationship. A college student had been in what she termed a fairly serious relationship before she started dancing. When she began to dance she made no effort to hide this from her significant other. In fact she told her boyfriend about the job before she started working. At first things went on as usual. Eventually, however, things began to deteriorate. She worked most weekend nights because they paid the best money. Her boyfriend who worked a day job was at work during the time she had off. Lack of time spent together eventually began to strain the relationship. She and her boyfriend had a hard time getting things back together. She says that after some talking that they were able to mend things. She says that after the initial problems things were okay. Ultimately, though the relationship ended while she was dancing. By no means that this says that the dancing alone caused the end of the relationship, it only attempts to show that for she, had some sort of affect. This may also be true of other dancers around the country. She said that outside of the club they never act the way they do inside. She says that she obviously  meets more men in the club, but that is because she wants to make money. If she does not initiate the conversation (fantasy) she makes no money. The reaction of her family was another matter altogether. After a month or so she informed her mother about her dancing, and they only told her after she had quit. Her mother was understandably upset. According to her, her mother cried. Her mother apparently had trouble getting her head around why her daughter would want to be a stripper. She then explained that she did it because the money was good and that she had paid of school loans and credit card dept. She explained that she only did it for a while and that that part of their life is over with. Even though the family doesn’t accept the behavior of there daughter, she understands why her daughter dances. The fast paced lifestyle is easy to get lost in. Money, sex, and attention all play into the pull that catches many women. Many strippers felt that this lifestyle attracted many young women especially those just out of high school. Easy money, sex and attention are too much for many young women. Young women get drawn in and become addicted. Breast implants and other surgery was often the end result of this addiction. Many of these women end up staying in this line of work as long as they are able to make money. The student I read about, danced for one reason, MONEY. They needed it for school and bills, as soon as they were able to pay these they moved on. Society often times portrays the business of exotic dancing as an occupation that is undesirable and immoral. Some women however, are able to find a place in this business that not only provides material gain and stability, but also empowers them. By creating a fantasy onstage and then altering it for each patron on the floor and in the back room, the dancer in affect draws the customer into a fantasy she has tailored just for their enjoyment. This situation specific fantasy is where the power lies for the dancer.

Stoning

Human Rights Research Task| Stoning In Iran| Daleen Conradie 11(O)| â€Å"You are a human being. You have rights inherent in that reality. You have dignity and worth that exists prior to law. † Lyn Beth Neylon Definitions Human Rights: Human rights are the basic freedoms as well as rights that all humans are entitled to. These human rights include the right to life, freedom of thought and expression as well as equality. Human Rights Violation: A violation of Human Rights is when someone has been discriminated against or has made it unable for someone to receive their basic freedoms or rights. Cultural Relativism:Cultural Relativism is the principle when someone’s activities and beliefs have to be understood according to their own individual cultures. Religious Relativism: Religious Relativism is the principle when someone’s activities and beliefs have to be understood according to their own individual religions. Stoning In Iran What is Stoning? Stoning is a way o f punishment where stones are thrown at the victim until they die. As a group complete this punishment no one can be held responsible for killing the person. This form of execution can be seen as a form of torture as it is slower than other forms.It is also said to be one of the oldest forms of execution that has been practiced in many areas of the world however most commonly in the Middle East and sub-Saharan Africa. There are certain crimes that by the law of the country or community are punishable by death from stoning. If someone is accused and it is agreed by the people in power of the community they are put to death by stoning, even if there is no evidence to support the accusation. If the victim is a male they are buried up till their waste while a female is buried up until her shoulders. They are then thrown with stones by the volunteers in the community.These stones are picked specially to their size as they must be able to cause physical pain without causing death immediat ely. The stoning lasts until the person has died which on average is between 10 to 20 minutes. The family of the victim are forced to watch as well as sometimes take part. It all depends on what the punishment entails. The law of stoning however also allows the person to go free if they are able to escape however this is not always followed as many that escape are then shot. Human Rights Violation: When someone does not allow them to have their human rights it is seen as they treat them as if they are less than human.It creates the sense that they do not deserve respect or dignity. All individuals are entitled to justice, life and physical safety in order to grow in a safe and nurturing environment. There are many ways to violate rights but governments have created laws to restrict the â€Å"crimes against humanity† however individuals as well certain groups of people till break these law for their own selfish reasons. Unfair trial: In cases of stoning the judges are allowed to someone sentence someone to stoning without asking for permission from the government as well as often without proof of the crime.Iran law allows a judge to sentence someone based on their â€Å"knowledge. † This means that someone will be put to death not based on evidence but rather on the feelings of the judge. This means that many cases are unfairly tried. Abuse towards Women: â€Å"Right to life, liberty, and security of person without distinction of any kind, including sex† (Articles 2 and 3 of the UDHR) (http://www. stop-stoning. org/node/10) Most of the victims of stoning are women who have been discriminated due to their statutes, customs or values.In actions that can be seen as violating normal behaviour, women are more likely to be assigned the guilt especially in the cases of adultery. The women in these relationships have a higher chance of being stoned to death while the men will receive less severe or even no punishment. Cultural or Religious Context: In past history, stoning has been seen as tradition in many cultures and religions including Jewish and Greek communities. Stoning now is associated with Islam and Muslim cultures however there is no mention of stoning in these their religion book, the Quran (religious text of Islam. The only mention is implied in the Hadith (narrations concerning the words and deeds of the Islamic prophet Muhammad) when the Prophet Muhammad dealt with the Jewish Law. There have been many debates within Muslim religious communities as well as many people have spoken out against stoning saying it humiliates and defames Islam even though it is not accepted as Islamic Law. Due to this many Muslim nations have now banned death by stoning however there are still many countries that either under law or due to the community still uses stoning as a form of punishment.In Iran many Muslim people believe that stoning can be seen as Islamic however there is no proof to show that this is part of either religion . Effects on Society due to Violation of Human Rights: As there is an unfair treatment the people in the community then become afraid as well as they are unable to prove their innocence due to them being convicted based on a feeling of the judge. The people within the society live in fear and therefore there is then no unity in the community. Friends are lost during stoning as they can be the ones who are throwing the rocks. Women are treated the worse as they are seen as weaker and less important.This means that the word of men over power those of women. If a women is able to prove her innocence yet a man is has evidence to prove she is guilty even if the evidence it is not sufficient, the word from men will be taken and women will be punished. The violation of human rights creates an environment of fear and discrimination. How Violations of Human Rights Restrict the Dignity and Development of Human Beings: â€Å"Dignity is a term used in moral, ethical, and political discussions to signify that a being has an innate right to respect and ethical treatment. † en. wikipedia. org/wiki/DignityWhen someone does not receive their human rights they lose a part of being a human being. Those who violate rights take away something from humans; they do not give them the respect or treatment that they deserve which means that they do not have dignity. It has been taken away from them with no reason. The effect of this is that the person can then live in fear or they do not fully develop as they do not have the basic forms of security. Unfair trials or accusations mean that humans are not treated as equal. They need to have certain material objects or statuses in society in order to receive treatment that they deserve.They are not seen as innocent until proven guilty; they are seen as guilty based on one person’s opinion. When women are abused or seen as less superior they are also not treated as equal. They are discriminated against which can make them feel worthless. This can cause them to be unable to fully grow and develop into independent human beings as they have not been given the opportunity to achieve their full potential. When humans grow up in hard situations they are more prone to making wrong live decisions or they just do what they are told as they have not be exposed to the freedom of making their own choice.Unique cases show how the human spirit can’t always be broken so these people are able to fully develop however if they are never exposed to this hope, to certain human rights, they will conform and live by societies rules even if it mean stoning someone to death. As of 2010, stoning is still practiced in: Saudi Arabia Afghanistan Somalia Nigeria Sudan Iraq Iran â€Å"If cultural and religious practice is protected by the constitution, do you believe that it is then acceptable/ justifiable to practice the specific example you have researched. Certain cultural and religious practices are protected by the const itution as they are protecting the human rights that state one is allowed to practice the religion or culture they chose without being discriminated against. However there has to be a balance between human rights and beliefs as one can’t neglect one of them as they are both protected by the constitution. There have been many negotiations between these two points of view and many religions and countries have reached an agreement. This is not however.Stoning is seen as part of the Islam cultures however it is not stated in the Quran. This means that the cultural and religious point of view is not justifiable as stoning is not a religious practice. Many of the countries where stoning still takes place, such as Iran and Afghanistan, are part of the International Convention of Civil and Political Rights. Article 6 of the ICCPR states that â€Å"in countries which have not abolished the death penalty, sentence of death may be imposed only for the most serious crimes† (http:/ /www. stop-stoning. rg/node/10) Adultery is not a serious crime however people are still executed cause of these crimes as well as they are tortured which is a violation of the Human Rights, ICCPR and the Law of certain countries. If a cultural and religious practice is protected by the constitution it can be accepted to practice it if it is within the boundaries of human rights as human rights are also protected by the constitution. Death by stoning is not a religious practice therefore it isn’t protected by this part of the constitution as well as stoning for the crime of adultery is not allowed according to agreements made.Bibliography Information oregonstate. edu/instruct/anth370/gloss. html en. wikipedia. org/wiki/Cultural_relativism wordnetweb. princeton. edu/perl/webwn http://www. iran-e-azad. org/stoning/ en. wikipedia. org/wiki/Human_Rights_(Women_in_Armed_Forces)_Amendment_Act_2007 http://community. babycenter. com/post/a22865769/the_stoning_of_suraya_m. http://rayh arris57. files. wordpress. com/2009/12/human-rights-day. jpg http://science. jrank. org/pages/9933/Law-Human-Dignity. htmlhttp://www. stop-stoning. org/node/13 http://en. wikipedia. org/wiki/Adultery#Stoning en. wiktionary. rg/wiki/human_rights en. wikipedia. org/wiki/Human_rights http://www. quotegarden. com/h-rights. html http://en. wikipedia. org/wiki/Hadith http://en. wikipedia. org/wiki/Dignity en. wikipedia. org/wiki/Rights http://en. wikipedia. org/wiki/Human_rights http://www. stop-stoning. org/node/10 http://en. wikipedia. org/wiki/Stoning http://www. dhushara. com/book/sakina/stoningetc/stoning. htm Bibliography Information http://www. unglobalcompact. org/aboutthegc/thetenprinciples/humanRights. html http://civilliberty. about. com/od/capitalpunishment/ig/Types-of-Executions/Death-by-Stoning. tm http://www. worldinconversation. org/wp-content/uploads/2011/02/freedom. jpg http://meydaan. net/English/showarticle. aspx? arid=133&cid=46 http://answers. yahoo. com/question/ind ex? qid=20100706003525AASKrvg http://hubpages. com/hub/The-Stoning-of-Women-in-Iran-Its-global-impact http://www. nypost. com/p/blogs/capitol/message_for_president_obama_regarding_5uChiwg2KiCzjn7V3OnxyM http://www. unglobalcompact. org/aboutthegc/thetenprinciples/humanRights. html http://www. beyondintractability. org/essay/human_rights_violations/

Informal Letter

Dear Sally, Thanks for writing such a long and funny letter. I always enjoy reading what you’ve been doing. I’ve recently been on holidays with my sister Anna. We were saving as much money as we could only for one reason: LONDON, the city of our dreams. We are absolutely fascinated by the city, it's really awesome! As you know, London is the capital city of England and it's on the River Thames. Anna and I stayed at a luxurious hotel called â€Å"London Marriot Hotel† very close to the city center. We tried to do as much things as we could, only in 5 days. We spend a fortune on the flight on the famous London Eye. In only 30 minutes we saw more that fifty London's most famous landmarks! After the flight, Anna and I went to watch Changing the Guard, which takes place inside the railings of Buckingham Palace. The Queen's Guard is always accompanied by a band and the ceremony lasts 45 minutes. It was really amazing! Also, we took some photos of the Houses of Parliament, of Big Ben and of Westminster Abbey. And we had a nice walk along the riverside. I was mesmerized by London by night. However, not all in Britain is so amazing. We've already noticed that Londoners are very busy people; they're in a hurry all the time. As for the food, I don't like English food. It's tasteless and very greasy. Fish & chips seem to be their national dish. But I must admit that I like English beer. Of course, we didn’t have enough time to visit all the places we wanted to. So I think that I must come back here next summer. Maybe you would go with me -what do you think? Write to me about it in your next letter. Best wishes, Vero Informal Letter Dear Sally, Thanks for writing such a long and funny letter. I always enjoy reading what you’ve been doing. I’ve recently been on holidays with my sister Anna. We were saving as much money as we could only for one reason: LONDON, the city of our dreams. We are absolutely fascinated by the city, it's really awesome! As you know, London is the capital city of England and it's on the River Thames. Anna and I stayed at a luxurious hotel called â€Å"London Marriot Hotel† very close to the city center. We tried to do as much things as we could, only in 5 days. We spend a fortune on the flight on the famous London Eye. In only 30 minutes we saw more that fifty London's most famous landmarks! After the flight, Anna and I went to watch Changing the Guard, which takes place inside the railings of Buckingham Palace. The Queen's Guard is always accompanied by a band and the ceremony lasts 45 minutes. It was really amazing! Also, we took some photos of the Houses of Parliament, of Big Ben and of Westminster Abbey. And we had a nice walk along the riverside. I was mesmerized by London by night. However, not all in Britain is so amazing. We've already noticed that Londoners are very busy people; they're in a hurry all the time. As for the food, I don't like English food. It's tasteless and very greasy. Fish & chips seem to be their national dish. But I must admit that I like English beer. Of course, we didn’t have enough time to visit all the places we wanted to. So I think that I must come back here next summer. Maybe you would go with me -what do you think? Write to me about it in your next letter. Best wishes, Vero

Destination Evaluation Essay Example | Topics and Well Written Essays - 2500 words

Destination Evaluation - Essay Example Through considerable exports the region has helped in gaining access to a huge pool of foreign investments which are expended over development of sectors like tourism. The region through the opening up of large number of hotels and tourism related infrastructure has helped in attracting many tourists from other nations which helped in enhancing the country’s revenues (Library of Congress-Federal Research Division, 2007, p.3, 8, 13). In this connection the paper further divulges to reflect on a particular state of the Saudi Arabian region, Bahrain and evaluate the destination in terms of the different tourism opportunities available. This state located in the Saudi Arabian peninsula is also a prime member of the cooperation council of the Gulf region joined by countries like Kuwait, Qatar, Oman and other Saudi Arabian regions including the United Arab Emirates. ... Tourism Activities in Bahrain The region of Bahrain is gradually developing as one of the tourist hotspots in the Saudi Arabian region. Tourism is being increasingly developed in the region of Bahrain through rendering enhanced focus on drawing in large crowds to the state. It is observed that considerable amount of tourism activities would help in rendering large economic prosperity to the region. To develop Bahrain as a hunting ground for tourists the government of the region is keenly focusing on the development of hotels of three and five star qualities in large numbers. Further the region is also inviting grants from world bodies like the United Nations to help in the development of the heritage sites in the Bahrain region. The national airlines carrier of the region, Gulf Airlines is also found to render increased support for helping in the promotion of tourism in the region by helping attract large number of tourists at concessional rates. Further the government of Bahrain is increasingly focusing on the development of activities like trade expos and exhibitions which would help fetch large number of foreign delegates from developed regions of the world. Corporate tourism is being widely encouraged by helping in the enhancement of amenities pertaining to organization of meetings and conferences. The region is also found to host international sporting events like the Grand Prix which signifies the flow of large number of tourists in the country. The government of Bahrain to help encourage this wide flow of international tourists is continually working for the development of hotels and several tourism facilities inside the country with the active cooperation of the Gulf Cooperation

Freedom writers Movie Review Example | Topics and Well Written Essays - 500 words - 1

Freedom writers - Movie Review Example one of the reasons why the class performed badly in school and even the faculty did not want to lend school to the class on the grounds that the books might get destroyed or might get lost (Berardinelli). Despite all the challenges Erin never gave up, at the course of 1992-1995, she had some extra work just so she could buy books for the students to use. However, the book was a small problem compared to the real issue that the class has. Students were dividing themselves according to race. The African Americans were excluding themselves from the rest of the group, as well as other races. And these factions even spark chaos from time to time. Once in a convenience store, April Lee Hernà ¡ndez playing Eva in the movie was coincidentally with a Cambodian refugee Sindy played by Jaclyn Ngan. Although they did not have much problem with the co-existence of one another, their boyfriends did. Sindy’s boyfriend got shot by Eva’s and the long dispute between the factions elevated to another level. Eva was not going to testify in the court that her boyfriend, a race of her own shot someone from another racial division. Justice was being delayed. When Erin heard of it, she thought it would be bet to intervene and let the children know about the bad things regarding racial segregation. She told them about the holocaust, on how because of the racial hatred of the Germans attempted to kill all the Jews – an act which the Germans almost succeeded. Erin told them that because of the Holocaust, more or less four million people died in a very short period of time. She eventually realized that she was starting to gain the sympathy of the children through her stories to them. Then Erin encouraged the students to make diaries of their own where they will write their fears, hatred, dreams and aspirations. Miep Gies, the one who sheltered the Ann Frank was invited by the class through their fundraising activity. Gies told them everything about the Holocaust that she knows of.

Providing Appropriate Accommodations Term Paper

Providing Appropriate Accommodations - Term Paper Example Cerebral palsy is a disorder that affects the movements, balance and postures of the body. It refers to a paralytic state of the brain. It occurs as a result of abnormal development of the brain or parts of the brain that controls the tones of the muscles as well as the movements of the motor and cells. Thus the simple movements of the body also become difficult for the affected child. However, in spite of several forms of this palsy being capable of affecting children, it has been observed that the level of intelligence of these children may not be affected as it might seem to be. In fact, in several cases the intelligence levels of such children are like the normal children or even above averages sometimes. The health problem is significant in its nature and hence children suffering from this disorder need special care (Alvarez, 2012). Cerebral Palsy and its Characteristic Features among Small Children: The definition of cerebral palsy may be given as â€Å"a group of permanent di sorders of the development of movement and posture, causing activity limitations that are attributed to non-progressive disturbances that occurred in the developing fetal or infant brain. The motor disorders of cerebral palsy are often accompanied by disturbances of sensation, perception, cognition, communication and behavior, by epilepsy and by secondary musculoskeletal problems† (Introduction to Cerebral Palsy, 2012). Thus as explained above, cerebral palsy indicates abnormal functioning and non-development of the brain leading to abnormalities in the normal behavior and movements of the body (Introduction to Cerebral Palsy, 2012). Children suffering from cerebral palsy generally experience complexities in having control on their body muscles and movements while they grow up and develop. As these children grow up, the character and level of these difficulties modifies. However the disorder is not progressive and thus no change occurs in the actual injury or mutilation of the brain. What alter are the effects that arise as a result of the injury in the brain. The changes may occur over a certain period of time. It has been also observed that patients with this order may be helped to great extents through physiotherapy and other therapies. Thus children suffering from cerebral palsy are at many times referred to a therapist or are checked by a multi-disciplinary team under the involvement of local Child Development Centre. Since parts of the brain get affected as a result of the disorder, thus there may be allied complexities which become apparent when a child develops â€Å"for example, in vision, hearing, learning and behavior† (Introduction to Cerebral Palsy, 2012). It is not abnormal for not providing with a diagnosis if the motor development in the child is almost complete while doctors keep monitoring the child in the course of the development stages of sitting, crawling and walking (Introduction to Cerebral Palsy, 2012). Characteristic Feat ures of Students Suffering from Cerebral Palsy: Children with cerebral palsy encounter difficulties in moving their muscles normally. This primarily occurs as a result of persistence of certain reflexes that lead to movements and postures of the body that are unconscious in nature. The children encounter problem since these movements

Challenges and Opportunities for Managers Essay Example | Topics and Well Written Essays - 500 words

Challenges and Opportunities for Managers - Essay Example Businesses that have a good crop of workers will outperform a company with subpar employees. The quality of the labor force influences on the performance of a company. Take for example two universities systems. One system is selective in its selection process of faculty member with a 90% doctorate rate among faculty members. This college pays its professor a median salary of $127,500. The second college does not emphasize college professors with doctorate studies. The average median salary at the second school was $65,000. Due to the difference in the composition of college professors between the two schools the university with greater credentials provides a higher quality of education. The higher salary offered by the first school made it easier for them to recruit professors with better credentials. Money or economic considerations are the top motivating factor for employees (Schermerhorn & Hunt & Osborn, 2003). Selecting employees that have poor skills or that are less qualified t han other candidates hurts the corporation. Managers are exposed to a higher workload because poor employees require a higher attention and supervision from the managers to ensure they perform at the highest possible level. Good employees on the other hand are typically self-motivated which saves managers time.

Everyday uses of mathematics 0920 Essay Example | Topics and Well Written Essays - 500 words

Everyday uses of mathematics 0920 - Essay Example One simply cannot cook unless one is not able to get the proportion of varied ingredients that need to be put in a particular dish. One cannot cook varied recipes given in cook books and magazines if one does not know the basic mathematics to be able to calculate the quantity of varied spices and ingredients that one needs to put in a dish one is cooking. Once again, driving a car is a fairly common activity. Yet, the thing is that to know as to when one will reach one’s destination one need to know about the distance at which a place is located and the speed of one’s car. Only then one is able to calculate the time when he will reach the intended destination. Once again, this requires knowledge of basic mathematics. Students and household people do keep weekly and monthly budgets to keep an eye on their expenditure and savings. Again it is not possible to make and manage household budgets unless one does not know how to count the money one has at one’s disposal and as to how to add, subtract, divide and multiply varied sums of money. The one other thing students and professionals do is to keep a weekly and monthly planner to be able to manage their routines and to keep an eye on the time they have at their disposal. Again, one really cannot keep oneself organized and punctual by keeping a track of one’s t ime if one does not know how to watch time and the basic mathematics to be able to add and subtract time. The other commonly known activity that requires the knowledge of mathematics is the maintenance of personal statistics. People losing weight do keep a track of the pounds they have gained or lost and the change in the circumference of their waist and arms and legs. One really cannot do these things without knowing a little bit of mathematics. Isn’t it interesting to note that one even cannot lose weight without having knowledge of mathematics? People often go to shopping and while

Wages ,Unions ,and Labor Term Paper Example | Topics and Well Written Essays - 2500 words

Wages ,Unions ,and Labor - Term Paper Example Moon (2011) cited that the weekly applications of unemployment insurance fell to a 3-1/2 year low. The unemployment rate was reduced to 8.6 percent last November from 9.0 percent in October this year (Dalgleish, 2011). Though this shows an improvement of 0.4 percent, the present unemployment rate is still high (Harrison & Berg, 2011; Felsenthal & da Costa, 2011). This improvement might be undone if the bill which cuts funds allocated for defense in the 2012 budget will be approved by the senate and the president. This bill will cost 800,000 jobs and this might rose up to 1.5 million jobs in the following decade due to legislation passed in August (Felsenthal & da Costa, 2011). High unemployment rate was one of the reasons why thousands of demonstrators marched on ports from Southern California to Alaska last December 12. This march included two of the largest labor unions in country: the longshoremen’s union and the Teamsters (Harrison & Berg, 2011). Part of the rally’s focus was for non-union members; independent workers who earn low wages such as truck drivers said Harrison and Berg (2011). High unemployment rate is one of the major problems of the economy of the United States at present times. ... The U.S. GDP and Unemployment Rate To analyze the current situation in an economic perspective, the country’s data on its Gross Domestic Product (GDP) must first be known together with its unemployment rate. It is important to take note of the economic output at the macro level According to Williamson (2008), â€Å"when the aggregate real GDP is high, the unemployment rate tends to be low since the two variables are countercyclical in nature (p. 594). Graphing these two sets of data will serve as a tool for analysis. Table 1. U.S. Gross Domestic Product 2011  ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­ Quarter 1 Quarter 2 Quarter3  ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­ GDP 0.4 1.3 2.0 Source: Bureau of Economic Analysis Table 2. U.S. Unemployment Rate 2011  ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­ Month Unemployment Rate January 9.0 February 8.9 March 8.8 April 9.0 May 9.1 June 9.2 July 9.1 August 9.1 September 9.1 October 9.0 November 8.6 Sou rce: Bureau of Labor Statistics Graph 1. U.S. GDP and Unemployment Rate 2011 Graph 1 show that the data is in accordance with what Williamson (2008) mentioned regarding GDP and unemployment rate. This further implies that despite the European debt crisis, the U.S. economy is still doing well at the moment, especially since an increase in GDP has been noted in the last quarter together with a significant decrease in unemployment. Production output has increased implying increased earnings. The number of people employed increased which means less spending for the government since the people who avail unemployment benefits decreased. If the bill which permitted the cut of funds in the budget for defense is approved, 800,000 workers will lose their job and the unemployment rate will increase once more. This will lead lesser production

Austens Growing Feminism in Emma Essay Example | Topics and Well Written Essays - 2250 words

Austens Growing Feminism in Emma - Essay Example Rarely was it possible to attain both and often it was found, too late, that it was possible to attain neither. Even in the very early 1800s, though, many of these ideas were beginning to surface in the literature produced. Writers such as Jane Austen emerged as proto-feminists, planting the seeds of a new day while still remaining ‘acceptable’ to the old. This careful blending of feminist ideals with traditional behaviors can be found in such novels as Emma, in which critics have found support both for the traditional role of women as well as encouragement for a new way of thinking about women. Women’s lives were often strictly contained within rigidly defined terms. Women who formed the upper class enjoyed ample time for leisure activities in their lifestyles and once a woman married, her role was to simply to manage the home and the household. Though the life of the upper class woman might seem easier and more secure than that of a lower class woman, this was not always the case. Land, titles, and money were inherited by the closest male relative – typically the older son, but if there was no older son then it would go to a more distant relation. Only the small amount of money set aside as a woman’s marriage dowry went to an unmarried woman after the death of her father. In addition, many women were married nominally against their will in arranged marriages, by the Victorian age positioning the woman herself as commodity (Levine-Clark, 1991). As a result, many mothers and daughters were left extremely poor after the death of their husband and fathers. At the same time, the activities they were permitted to take part in remained relatively sedate and home-bound.

History of networking Essay Example | Topics and Well Written Essays - 2500 words

History of networking - Essay Example The said necessity can be attributed to the advent of the computer technology since stored data in different units of are needed to be shared within a local are or to another remote located. The said need that been realized through the onset of the different networking technologies that made data management faster and more efficient (Morley and Parker, 2009, p.322). The study is aimed to present the history of networking technologies by discussing the chronological development of the different systems that contributed to the present utilizable networking tools. Toward the Development of the Connectionless Computer Networks 1960s: 1. Development of the ARPANET The ARPANET is one of the first networking technologies considered as the precursor of the internet technology. It had been developed in 1969 by a group under the United States Department of Defense known as the Advance Research Projects Agency (ARPA) and known as the ‘first operational packet-switching network’ (St allings, 2007, p.25). ... The original ARPANET design can be seen in Figure 1. From the said circle of users and groups connected to the ARPANET, the number of hosts grew to hundred millions and the number of users grew to billions. In 2007, there are 200 countries that were connected to the network (Stallings, 2007, p.25). From the said official use, the utilization of the system extended to college students. Thus, the ARPANET at that time was being applied for military purposes and for the exchange of information among the groups included in the circle. Through the inclusion of the students, though, a new purpose had been born considered as unintended. Computer games began during that time (Morley and Parker, 2009, p.322). Figure 1. Original ARPANET design. (Source: Tanenbaum, 2003, p.52) Basically, the networks continued to expand through the years. It became massive that it included the different types of hardware from the earliest to the latest such as the ‘DOS-based computers, the Windows-based co mputers, the Apple Macintosh computers, and the UNIX systems. The evolution, development and connection to the ARPANET can be considered as the early stage internet that the world has today (Morley and Parker, 2009; Stallings, 2007). The ARPANET uses the technology contributed by the different participants in the group such as the European networks including Cyclades in France and EIN. This collaboration led to the main system used, which was the Transmission Control Protocol (TCP) and the Internet Protocol (IP). The protocol suite then became TCP/IP, the main foundation in the development of the Internet (Stallings, 2007, p.26). 1970s: 1. Development of the System Network Architecture (SNA) The SNA which had been launched in 1974 was developed by IBM. It is a layered

Womens’ Compulsive Obsession Essay Example for Free

Womens’ Compulsive Obsession Essay In â€Å"A Woman’s Beauty: Put Down or Power Source?† Susan ​ Sontag  ­ argues that women view beauty as an obligation and that they actually focus on their appearance more than who they are as a person. In the essay, Sontag provides the perspectives of both Christians and Greeks towards beauty and compares them to the superficial views of the present. Sontag stresses that women should direct their attention to other things rather than beauty. Beauty is put at such a high standard that women feel the need to be as beautiful as the women advertised. Basically, women endeavor to be appropriate and beautiful to attract men. Sontag also showcases that women believe that being beautiful will earn them a reputation and place in society, and that beauty brings power and success. According to Sontag, beauty is the only form of power that women are encouraged to seek. In our own time, beauty is administered as a form of self ­oppression. In the process of growing up, young women may forget how intelligent they are and their aspirations in life. A woman’s success in the society s depends on good looks, which are a great advantage in life.

Foreign Exchange Risk Exposure on Toyota Motors

Foreign Exchange Risk Exposure on Toyota Motors The globalization phenomenon allows companies to internationally expand their sales and production activities. A consequence of this phenomenon, however, is the existence of foreign exchange rate exposure which can impact the companys profitability, net cash flow and market values. In the past years, several academic researches have been developed in order to explain and analyze how foreign exchange risk exposure fluctuations affect a multinational company or a purely domestic company value, and how this risk is influenced by the companys risk management strategy. Consequently, this dissertation aims to find some knowledge on these subjects for a specific company, Toyota Motor Corporation. By applying the capital market approach and analyzing three different periods, it is possible to conclude that Toyota Motor Corporation, in a crisis situation, was able to protect itself against some of the primary exchange rates fluctuations it is exposed to. Thus, the predictability of higher fluctuations allows the company to apply effective risk management strategies. Considering a ten year period, bilateral exchange rate fluctuations are more significant to the company stock returns than for other periods. However, being an exporting company, its coefficient for exposure is not consistent with the competitive advantage an exporter holds when its company home currency depreciates. It is consistent, however, when the broad currency index is considered. Additionally, the impact of foreign exchange risk fluctuations is small for company stock returns. This can thus indicate that exchange rate fluctuations dont have a significant impact on company stock price returns. INTRODUCTION The globalization phenomenon has allowed the integration of national economies into the international economy, giving them easier access to information, goods and services through trade and foreign direct investment around the world. This process has been encouraging an increasing number of companies to start operating on a global scale, expanding their networks worldwide. In recent years, the number of multinational companies has grown in order to respond to the competitiveness experienced in the domestic market and explore new markets to produce or sell new products and services. Multinational companies, or purely domestic companies with a broad network, are exposed to several risks. An important risk that has a significant impact on the management of a company is the foreign exchange risk, due to the fact that it may affect the companys cash flows, value and performance. Nevertheless, besides the foreign exchange risk, many other risks affect companies, such as the interest rate r isk. Several financial and operating instruments and techniques are being used and developed by multinational companies to handle these risks. However, in order to manage these risks, companies must know exactly what their risks are and how to measure them. With regard to foreign exchange rate exposure, several studies conducted in recent years have presented various risk management approaches in order to understand to what extent its fluctuations affect the companys value and performance. However, there is little consensus among the different studies, which indicates that exchange rates are complex and can affect and be affected by different factors. The most traditional approaches are the cash flow approach and the capital market approach. In this study, the capital market approach is used to assess, through quantitative methods, to what extent foreign exchange rate fluctuations affect the companys value. It is important to note that several studies using quantitative methods found no statistical significance when trying to understand the impacts of foreign exchange fluctuations on the companys value. Thus, an explanation given for this fact was that the company was able to protect itself against foreign exchange rate fluctuations by means of hedging instruments and techniques. The main purpose of this study is to analyze the foreign exchange risk exposure of a multinational company using the capital market approach, and also to what extent the various assumptions underlying this approach produce different results. The choice of the multinational company was based on the following requirements: it had to be a public company operating in a competitive industry and could not be the subject of any other study in the same area. Accordingly, the Toyota Motor Corporation was chosen. Its main plants are located in Japan; it operates in the Automotive Industry and was the worlds largest manufacturer in 2009. Furthermore, 61.4% of total sales to external costumers are overseas, which indicates that the company is likely to face considerable impacts from foreign exchange risk exposure. In order to achieve the main purpose of this study, Toyotas foreign operations are analyzed in a first phase to understand to what extent the company is internationalized. Moreover, this initial analysis also envisages the foreign exchange rate fluctuations against the companys stock price returns and their direct impact on its report accounts, as well as the hedging instruments used to handle the foreign exchange risk. In a second phase, the capital market approach is used to suggest that foreign exchange risk exposure could be measured as the sensitivity of stock price returns to exchange rate movements. This approach requires the implementation of statistical regressions. For this purpose, market, stock price and foreign exchange rate data were collected from 1999 to 2009. Considering the studies developed by different authors, regressions involve several hypotheses for the exchange rate variables, such as a Nominal Broad Index that is like a basket of currencies and several bilateral exchange rates, in order to understand which variables affect stock price returns. In this second phase, the quantitative method is applied to three different periods in order to compare how the company handles the foreign exchange risk. As this dissertation takes into account the investors point of view, it can help to understand how investors determine and quantify the exposure of their portfolio to the foreign ex change risk. Moreover, this approach allows comparing the companys exposure to foreign exchange rate fluctuations with that of competitors in order to understand the effectiveness of the hedging activities. To complement this study, this dissertation is organized under the following sections: The first section is a thorough review of the literature on this subject. It explains why it is important that companies know how to handle the foreign exchange risk and presents the findings of past research. In the second section, the traditional categories of foreign exchange risk exposure are described, the effects of hedging the foreign exchange risks are shown and the most used analysis methods are discussed. The third section provides an overview of Toyota and an analysis of its foreign operations. The main purpose of this section is to support the interpretations that emerge from the regression results and this information is used as the basis for selecting the variables for the regression model. In the fourth section, relevant analyses are provided about the variables that may be a source of risk for Toyota and which were chosen for the regression model. In addition to this, it presents the hedging programs undertaken, the designated and undesignated financial instruments used and the reasons why the company does not need to have financial instruments to hedge translation and economic exposure. The fifth section describes the methodology used. The reasoning, as well as the issues of each variable included in the model, is expressed in this section. It also presents the study time periods and data sources. In addition to this, it provides an analysis of the descriptive statistics for the data and different periods used in the model. The sixth section contains the regression results and provides an analysis and explanation of the findings. It also presents the limitations of the software used for the regressions and a brief analysis of the foreign exchange risk exposure of Honda and Nissan Motor Corporation. The seventh and last section summarizes the main conclusions of this study and presents some suggestions for further research. LITERATURE REVIEW The goal of creating a global business has, in the past years, been the fundamental reason behind the growth of multinational companies. Such an example is the registered growth in Japanese companies exports. In 2000 and 2009, exports from Japanese companies amounted to 0.8%  [1]  and 10.8%1 of the GDP, respectively. An annual growth of 32.9% in foreign activity, for a nine year period, is one of many advantages that companies can obtain by opening themselves in many ways. Other advantages include the opportunity to diversify labor force, to enter new markets and sell more, to reduce transport costs and to benefit from economies of scale. This, however, also creates new problems, challenges and demands. A multinational company is either a company with operating subsidiaries, branches or affiliates in more than one country, or a purely domestic company engaged in international activities (imports and exports). Some of the new problems and challenges these companies face include an increased exposure to foreign risks, such as exchange rates, interest rates and commodity prices [Miller, 1998]. Moreover, the risks associated to exchange rates appear do to the contact with new currencies  [2]  . Exchange rates constitute one of the most important macroeconomic risks, which can potentially impact, positively or negatively, the companies profitability, cash-flows and market value, due to exchange rate fluctuations. Consequently, in order to handle exchange risk exposure, companies can adopt several hedging tools. In the past decades, thanks to the increasing number of international trade activities and multinational enterprises, as well as the large currency fluctuations registered, the volume of research that tries to measure and analyze the impact of exchange rate fluctuations in multinational companies and their vulnerability to it has grown. However, produced results/conclusions have a mixed nature due to the complexity of this subject. The main goal in this section is to understand, through previous researches, what types of companies are most affected by exchange risk exposure, the importance of hedging, several types of foreign exchange risk exposure, types of hedging activities depending on the foreign exchange risk exposure the company is facing and traditional approaches to measure exchange risk exposure. Exchange Risk Exposure of Multinational Companies vs. Domestic Companies Thanks to the phenomenon of globalization, as well as the increase in companies foreign activities, several researches have been developed in order to give some input on what type of companies show a higher exchange risk exposure: multinational or domestic companies. The results of previous empirical studies suggest that only certain industries and/or companies are exposed to foreign exchange risk  [5]  . In the other hand, even a purely domestic company with importing or exporting activities is impacted by fluctuations in exchange rates. This idea is connected with competitive advantage; for instance, the products an exporting company sells abroad can still affect the companys value due to the effect of exchange rate fluctuations in competitors, suppliers and in customers demands. Muller and Verschoor (2006) concluded in their study that a companys size is also an indicator of its foreign exposure. They found that a companys lower dividend payout ratio results in a stronger short-term liquidity position and, consequently, a smaller hedging motivation and a higher exchange risk exposure. Other authors however, such as Choi and Jiang (2009), defend that multinationality is important for a companys exchange exposure, but not in the popular notion that was mentioned. Some authors found evidences that foreign exchange risk exposure is actually higher and more significant in absolute magnitude for domestic companies, when compared to multinational companies. The existing explanation for this finding is the fact that multinational enterprises are more capable to effectively and easily use financial hedging and operational hedging in order to reduce their position against foreign exchange risk, and also to increase their stock returns. Additionally, these companies are more aware of foreign exchange risks. Dominguez and Tesar (2006) agree with this finding and they also found that small companies, rather than large and medium-sized companies, show a higher exposure due to the same reasons. As a result, companies that dont engage directly in international business but compet e against foreign companies can be affected by exchange rate fluctuations [Dominguez, Tesar, 2006]. Dominguez and Tesar (2006) also found that the industry level may influence exposure. They suggest that exposure increases in highly competitive industries. In more competitive industries, however, an almost perfect pass-through can be expected since they are more aware of their vulnerability and are consequently better motivated to hedge foreign exchange risks, when compared with less competitive industries  [6]  . Regarding purely domestic companies, Pritamani, Some and Singal (2005) found that importing companies are more affected by fluctuations in exchange rates than exporting companies. Therefore, companies with importing activities should have more reasons to hedge exchange risk exposure. The Importance of Hedging Exchange Risk Exposure Hedging means taking a position when acquiring a cash-flow, an asset or a contract in order to protect the owner from losses and to eliminate any gain in the position hedged. Several researches indicate that currency risk management is very important to manage earnings and unexpected losses. Consequently, this should be done in order to reduce any impacts on the stockholders equity and to prevent value declines for the equity holder due to cash flow changes and unfavorable exchange rate fluctuations, respectively. Hedging currency exposure can therefore reduce some of the expected fluctuations in future cash flows and increase their predictability [Smith and Stulz, 1985]. It is believed that foreign exchange rate fluctuations impact financial decision-making in production, marketing, planning and strategy [Moffett and Karlsen, 1994]. It is therefore necessary to make contingent investments or develop long-term strategic plans and management perspectives in order to understand the volatility of foreign exchange. Companies can implement hedging tools based on policies that define when and how to hedge against foreign exchange risks. Hedging tools are not static mechanisms, companies are able to dynamically adjust their behavior in response to foreign exchange risks; for instance, a company can decide to hedge only part of their foreign transactions. To undertake these policies, the company needs to determine its risk tolerance and needs to understand the direction that the currency to which it is exposed is likely to take. A value maximization corporation that hedges its exposure to exchange risks can reduce the costs connected to financial distresses and taxes, as well as agency problems existing between shareholders and bondholders [Martin and Mauer, 2005]  [7]  . A possible reduction of financial distress costs allows investors to require lower risk premiums. Consequently, the company value increases [Smith and Stulz, 1985]. Therefore, as mentioned by Smith and Stulz (1985), hedging is part of the overall corporate financing policy. Moreover, Dumas and Solnik (1995) concluded that part of the return rate of an assets price is influenced by the foreign exchange risk premium. Thus, when a company implements risk management activities that decrease its foreign exchange risk exposure, the cost of capital is reduced. Some authors sustain that exposure management may not reduce total risk. Copeland and Joshi (1996) argued that anticipating hedging strategies is difficult given that so many other economic factors change when foreign exchange rates fluctuate. This is confirmed by Moffett and Karlsen (1994), who argue that the uncertain nature of future cash-flows hinders the implementation of long-term strategic plans and better investment decisions. It is also argued that risks connected to an inefficient hedging activity can increase exposure [Hagelin and Pramborg, 2004]. Additionally, currency risk management usually consumes some of the companys resources, consequently lowering its expected cash-flow [Eitman, Stonehil and Moffett, 2010]. Therefore, companies need to know whether their hedging strategies are successful or not, and if they are relevant to shareholders [Hagelin and Pramborg, 2004]. Findings regarding the Vulnerability of Multinational Companies to Foreign Exchange Risk Exposure Hedging tools that handle exposure to foreign exchange risks are not simple and they dont hold only a few complexities, since the companys exchange risk exposure correlates with its size, multinational status, foreign sales, international assets and competitiveness and trade at the industry [Dominguez, Tesar, 2006]. Adler and Dumas (1984) suggested that a companys foreign exchange risk exposure can be measured by the stock prices sensitivity to unexpected foreign exchange rate fluctuations. On the other hand, it could also be measured as the companys cash flows sensitivity to foreign exchange rate fluctuations. Considering that the main goal of this dissertation is to analyze economic exposure, it is important to note that several authors have developed researches that try to measure and analyze unexpected impacts of exchange rate fluctuations on companies performances, portfolios and Industries. Nevertheless, these researches have produced mixed empirical results. Jorion (1990) found that only 15 of 287 US multinational companies were statistically significant concerning the impacts of exchange rate fluctuations in companies stock returns. Additionally, the author detected that higher company foreign operations reflected higher exposure to exchange risks. Nevertheless, Bartov and Bodnar (1994) found that 208 of the companies with foreign operations that composed their sample were not statistically significant to the effect of US exchange rate fluctuations on companies stock price returns. Additionally, other researchers have reached mixed conclusions using different methodologies, samples and alternatives for the main variables. The inconsistency in these results, therefore, doesnt allow a sustainable conclusion on this subject. Recent studies, however, found evidences that exchange rate fluctuations do have an impact in companies performances. Such an example is the research developed by Dominguez and Teaser (2006), who found exposure to be statistically significant due to the effect of exchange rate movements on stock returns at Industry and country level. Some explanations have been pointed out by several authors for these mixed results. The registered contradiction can be explained by limitations concerning data, variables and methodologies used. Different researches develop different alternatives in order to determine foreign exchange risk factors and company values, which include different samples, the use of companies with less opened economies (USA) or more opened economies and different periods; all of these affect research. Bartram (2008) also explains that the use of stock returns to measure company value reflects the hedging position of companies, and the analysis is thus considering a lower level of risk exposure. Crabb (2002) also suggests that these mixed results can reflect different financial hedging strategies on data or simply reflect noisy data. Additionally, Bartram and Bodnar (2007) found that operational hedging activities help companies reduce their exposure and, consequently, have no statistical significance over the impact of foreign exchange rate fluctuations on companies returns. Therefore, as suggested by Crabb (2002), a statistically non significant exposure to exchange rates can result from an efficient hedging strategy set in place by the company. Types of Foreign Exchange Risk Exposure The hedging decision depends essentially on the level of risk exposure, its magnitude and the magnitude of hedging that companies deem necessary. Companies should essentially hedge activities that put them in a position with a high level of uncertainty, i.e., risk exposure in the strategy field (competitive, input supply, market demand and technological risk) and fields of interest to finance and international business scholars (foreign exchange risk), [Miller, 1998]. Before initiating the hedging process, the company has to decide what exchange risk exposure to hedge and how. There are three traditional foreign exchange rate exposure categories  [8]  that impact companies and that have a specific managing method: the transaction exposure, the operating exposure and the translation exposure. Generally, these exchange risk exposures can be hedged through the use of derivatives and financial instruments, such as commodities, futures and forward contracts, options and swaps [Miller, 1998]. The main goal of this dissertation is to measure and to analyze how unexpected foreign exchange rate fluctuations affect a multinational company. Notwithstanding it is also important to understand how the other two types of exposure impact companies and the types of hedging mechanisms available to handle exposure, in order to reach a deeper analysis and optimal conclusions. Economic Exposure Economic exposure, also known as operating exposure, is an unexpected change in exchange rates that affects the present value of the company by changing future operating cash flows, arising from inter-company and intra-company activities [Eitman, Stonehil and Moffett, 2010]. The unexpected exchange rate fluctuations affect the expected future operating cash-flows changing the volume, price and/or costs of future sales [Moffett and Karlsen, 1994]. Economic exposure approaches the impact of long-term currency exposure and analyzes the health of a companys business in the long run. The changes registered in the expected future cash flows depend of the change in the position the company holds in international competition  [10]  . Managing economic exposure involves all aspects of a company. Before establishing hedging policies, a company needs to measure its economic exposure. In order to do that a company should invest some resources in assessing its exposure, i.e., identifying the set of environmental contingencies affecting and relevant to the creation of shareholder value [Miller, 1998]. This identification allows the assessment of alternative environmental scenarios and consequent adoption of improved strategic decisions by the company. This is the reason why identifying and measuring economic exposure can be complex and difficult, bearing in mind that environmental contingencies vary across industries and across companies within those industries. Moreover, some authors mention economic exposure as being subjective, since it is based in estimates of future cash flows. Hedging Strategies The main goal of economic exposure management is to anticipate and influence unexpected and unpredictable effects in exchange rates. This can be accomplished if a company diversifies and changes its international operating and/or financing policies. This diversity allows the company to react in an active or passive way. The company can diversify operations through sales, location of production facilities and raw material sources or inputs [Eitman, Stonehil and Moffett, 2010]. A company can expand its sales through subsidiaries distributed across different countries, bringing its products or services to new markets and taking advantage of economies of scale, being also capable of diversifying its exposure to foreign exchange risks. Flexible management policies allowing a faster sourcing of raw materials and components can easily mitigate this exposure if this adaptation considers the impact of exchange rate fluctuations in the company costs and revenues. Additionally, RD can also mitigate this exposure, allowing the cutting back of costs and enhancing productivity as well as product differentiation. Choi (1989)  [11]  pointed out that international investment is one of the major instruments in managing economic exposure. In the same line, Miller and Reuer (1998) developed a study that showed this exposure is considerably reduced with a higher and direct foreign investment by the company (foreign market entry mode). Additionally, Smith and Stulz (1985) found that mergers achieve results that are similar to hedging results. Consequently, a company may wish to diversify the location of its production facilities internationally in order to mitigate the effect of exchange rate movements. This mitigation is possible because the company measures its cash flows in different currencies. Thus, exchange rate fluctuations in all currencies the company is exposed to can be naturally offset as can, consequently, the gains or losses while the company still reacts competitively. Diversification in financing is achieved by raising funds in more than one capital market and in more than one currency  [12]  . This method allows the company to reduce future cash-flow variability, to increase capital availability and to reduce costs, as well several risks, such as political risks. Allayannis et. al. (2001) observed that companies with geographical dispersion are more likely to use financial hedging strategies to lower their foreign exchange risk exposure. Accordingly, the use of exclusively operational hedging does not increase the companys value. However, if companies combine operational and financial hedging they will improve their value and, consequently, reduce exposure to foreign exchange risks. Companies can also adopt proactive policies (including operating and financing policies) to offset anticipated foreign exchange risk exposures. These policies allow a partial management of this exposure. The most generally employed are  [13]  : matching currency cash flows, risk-sharing agreements, back-to-back loans, currency swaps, leads and lags and reinvoicing centers. [Eitman, Stonehil and Moffett (2010)]. Transaction Exposure Transaction exposure measures gains or losses resulting from unexpected changes in future cash flows already contracted in a currency-denominated transaction [Martin and Mauer, 2005]. The uncertainty stems from the impact of exchange rate changes on the consolidated financial reports [Friberg and Ganslandt, 2007] and the fact that it is not anticipated in any line item of a financial statement [Eitman, Stonehil and Moffett, 2010]. Thus, the uncertainty can be the specific quantity of foreign currency or the timing of cash-flow [Moffet and Karlsen, 1994]. Transaction exposure approaches foreign exchange risk exposure in the short-term. It is therefore easier to identify and to measure, allowing a greater effectiveness of hedging strategies to be expected. Hedging Strategies The exposure to foreign exchange transactions can be hedged by contractual, natural, operating and financial hedges. The company, however, needs to determine its own risk tolerance and its expectations concerning the direction the exchange rates will assume. Contractual techniques include hedges in forward  [17]  , policies that imply proportional hedging. A natural hedge is basically an unhedged position where the transaction is left uncovered. Crabb (2004) suggests that this is not a very good hedge because it doesnt control variation over time and, consequently, companies cannot perfectly hedge their exchange rate exposure. An operating hedge means that the company will simply create an off-setting operating cash-flow (account payables, for instance). This hedge can also be implemented through several techniques, such as invoice currency, leads and lags in payment terms and exposure netting [Eun and Resnick, 2004]. Hedging through invoice currency allows the company to shift its foreign exchange risk exposure, invoicing foreign sales in home currency, or share foreign exchange risk exposure  [18]  , pro-rating the invoice currency between foreign and home currencies. Additionally, a company can also diversify its exposure to foreign exchange risks by invoicing sales in a market basket index [Eun and Resnick, 2004]. By hedging with leads and lags companies can accelerate or decelerate the timing of payments (receipts) made (received) in foreign currencies. This hedging strategy is efficient if a currency is expected to appreciate or depreciate against another [Eun and Resnick, 2004]. Finally, the technique of exposure netting suggests that a multinational company should not consider its deals in isolation, focusing rather on hedging the company in a portfolio of currency positions. This means that companies should consider overall payments (receipts) that must be done (received) after taking in account the opposite operations that naturally hedge each other. To use this technique some companies have re-invoicing centers, separate corporate subsidiaries that serve the parent or related unit in one location and all foreign subsidiaries. The reinvoicing center receives the invoice between the subsidiaries, taking legal title of the good that manufacturing plants sells to distribution subsidiaries of the same company, managing all foreign exchange transaction exposure for intracompany sales [Eun and Resnick, 2004]. Additionally, the reinvoicing centers can guarantee the exchange rate for future orders  and also manage intra-subsidiary cash flows [Eitman, Stone hil and Moffett (2010)]. Financial hedging refers to the creation of an off-setting financial cash flow by either borrowing or lending in the currency the company is exposed to. The company can use some type of proactive policies such as back-to-back loans and currency swaps. A back-to-back loan occurs when two companies in different countries coordinate themselves to borrow each others currency for a specific period of time. They then return the borrowed currencies at an agreed terminal date. By hedging via currency swap, the company and a swap dealer agree to exchange an equivalent amount in two different currencies (for instance, a company enters a swap paying yens and receiving dollars) for a specified period of time. The swap dealer assumes the role of a middleman. A matching currency cash flow proactive policy can act like a financial hedge or an operational hedge. The first alternative to offset a long-anticipated and continuous exposure to a particular currency (i.e., the Japanese Yen) is to acquire debt in that currency (in Yens). Suppose the following exposure: A US Corporation exports goods to a Japanese corporation. The inflow of the Japanese Yen creates a foreign currency exposure. An hedging technique requires that the debt payments in Japanese Yens, which consist of the principal and the interests paid by the US Corporation