A Literary Lens - 957 Words

After reviewing the coding I completed for each book, I tallied up the results to see which lenses I most frequently and infrequently used. The results were that I analyzed the text through the literary lens in nineteen different books out of the twenty-five total (Petersen, 2016). In retrospect, I intermittently used the intertextual lens while reading. To be specific, I analyzed only five books out of the total twenty-five through this perspective (Petersen, 2016). The biggest change I noticed taking place in how I used my lenses was how the further we progressed through the semester the more in-depth and detailed my blog entries became. For example, after the first five books that I read, I began to notice in my coding of the artistic lens that my descriptions and analytical thinking of the illustrator’s depictions significantly increased. For example, in book number two, The Blacker the Berry, I stated, â€Å"Another great element of this book was the illustrations that helped to add joy and laughter to this great book.† (Petersen, 2016). This description is short, and doesn’t really exemplify what exactly the illustrator did to have myself react with joy and laughter. But, later in the seventh book, Persepolis, my description for the artistic lens was much for in depth and analytical. For example, I detailed, â€Å"Her [the author] use of the black, empty space to underline the sadness and worry that Persepolis felt whe n she discovered Mohsen was murdered was perfectly expressedShow MoreRelatedGender Roles And Freedom Through A Literary Lens852 Words   |  4 Pagesthe story. Perhaps one of the greatest criticisms that each author has noted is that Dà ©sirà ©e’s Baby, leaves too many questions unanswered. Jon Erickson addresses Kate Chopin’s means of addressing the issue of gender roles and freedom through a literary lens. Erickson claims that Chopin juxtaposes two frame of reference: expectation and reality, themes commonly found within the fairytale genre. Because, â€Å"the primary expectation raised by the fairy tale is that there will be a happy ending, that theRead MoreCritical Lens Layout Essay804 Words   |  4 PagesCritical Lens Essay Format. Directions: The critical lens is a formulaic essay that consists of 4-6 paragraphs and explores two works of literature and two literary elements from each work of literature. Use the format below to help you write your essay using Homer’s epic poem The Odyssey and Richard Connell’s short story â€Å"The Most Dangerous Game†. Introduction Paragraph: †¢ Copy the quotation exactly as it appears and include the author (1 sentence) â€Å"Henry Ward Beecher once said, â€Å"GreatnessRead MoreAnalyzing The Semester Of Te 3481582 Words   |  7 Pagesthat the story may not be providing about a character. While reading This is Not My Hat by Jon Klassen I used an artistic lens when commenting on the relationship between the text and the illustrations. I stated, â€Å"I really liked how the words and the illustrations told two different stories on what was going on with the hat and its owner.† Another way that I used the artistic lens in many reading responses was by commenting on how the illustrations were drawn. I was really drawn into a book by how theRead MoreLiterary Criticism On Hemingway s The Three Day Blow And Indian Camp 746 Words   |  3 PagesLiterary Criticism on Hemingway In American Literature, messages and themes are included in most writings using literary lenses.. The messages give of lessons for life, love, death and other ideas. Ernest Hemingway is a well known American author that wrote â€Å"The Three Day Blow† and â€Å"Indian Camp†. Marxism, inspired by Karl Marx, is one lens that focuses on the social classes and the whom the work is benefiting. Another lens, the psychoanalytic len, is based on the subconscious’ craving inspired byRead MoreThe And Human Nature s Love For Categorization1011 Words   |  5 Pagesintentional or not. One classic example of one of these underlying themes is Shakespeare’s Hamlet. Hamlet can be seen through a Feminist Literary Lens, revealing the patriarchal structure of society in this fictional work of literature. To begin with, one cannot look at a work through a Feminist Literary Lens until one knows what that is. To put it simply, a Feminist Literary Lens is a way of pointing out gender indifferences in a story, specifically the oppression of women in that society. This indifferenceRead MoreMedea Literary Analysis1211 Words   |  5 PagesThroughout literary history, authors have categorized mothers as nurturing, critical, and caring; works of literature characterize fathers, however, as providers who must examples for their children and embrace their protective, â€Å"fatherly† instincts. However, many works’ fathers fall short when it comes to acting the role of the ideal dad. Instead of being there for their children, they are away and play very miniscule roles in their children’s lives; instead of protecting he actually ends up hurtingRead MoreHamlet As Seen Through The Feminist Critical Lens1481 Words   |  6 PagesHamlet As Seen Through the Feminist Critical L ens As stated by Tim Gillespie in his text Doing Literary Criticism, the concept of literary criticism is the field of â€Å"interpreting, analyzing, and evaluating† literary works. Thus, literary criticism is not objective; rather, it varies subjectively depending on the critic and the lens, or school, they choose to view the work of literature through. Though the actual content of literature is of extreme importance, the way it is approached is of nearlyRead MoreLiterature And Everyday Life : Toni Morrison s The Dark, And White Privilege And Male Privilege Essay1699 Words   |  7 Pagesfor this subject and sets the reader up for the rest of her piece, in which she explores the relationship of literary whiteness and blackness even further. Morrison continues on to pose the questions, â€Å"how is ‘literary whiteness’ and ‘literary blackness’ made, and what is the consequence of that construction? How do embedded assumptions of racial (not racist) language work in the literary enterprise that hopes and sometimes claims to be â€Å"humanistic?† (xii-xiii). Morrison poses and answers theseRead MorePost Colonialism Is Not A Reference Of Time Essay1237 Words   |  5 PagesPost colonialism is not a reference of time; rather it is the literary theory that encompasses the global interactions of humans after colonization and imperialist rule dominated the world. The ultimate definition is still in the wakes of developing, so there is no box this particular word can smoothly fit into. This is a literary theory; it is a lens to take in order to understand the truthfulness of all perspectives in a story. A baseline of post colonialism lies in the definition of both termsRead MoreThe O. J. Simps on Case1576 Words   |  7 PagesAngeles County Superior Court, in which the former NFL star and actor O. J. Simpson was trial on two counts of murder for the deaths of his ex-wife Nicole Brown, and a waiter named Ronald Goldman. The O.J. trial could be seen as a historical lens and cultural lens as well. The reason why I use those two perspectives was because; in history the black people has been treated as non-human, criminals, and properties. And in a culture perspective, black people are racial discriminated and profiled which

Major Types Of Emergencies Are The Following - 1278 Words

Major types of Emergencies are the following -evacuation -explosion and bomb alerts -external emergencies and natural disasters, such as: †¢ explosion †¢ fire †¢ flood †¢ hazardous chemical spill †¢ storm †¢ traffic accident -internal emergencies, such as: †¢ loss of power †¢ loss of water supply †¢ structural collapse -security emergencies, such as: †¢ armed robberies †¢ intruders †¢ disturbed persons -serious injury events. Examples of emergencies includes †¢ Bomb threats and suspected devices †¢ Death at the workplace or during a work activity †¢ Death of staff not work related †¢ Earthquake/ collapse of building †¢ Electrical hazard †¢ Explosion †¢ Fire †¢ Flood †¢ Fumes/ chemical spill/ contamination by hazardous materials †¢ Gas leak †¢ Infectious diseases †¢ Letter and parcel bombs -white powder letters †¢ Pedestrian accidents †¢ Serious violence †¢ Staff lost on excursions †¢ Storms †¢ Suicide †¢ Drought 2.2. Actions required are identified to contain or limit potential emergencies. The following bare examples of potential emergencies Emergencies Description of Emergencies Emergency requiring evacuation An emergency that affects the structure and/or safety of the building, including fire, flood or bomb threats Explosion and bomb alerts An emergency triggered by detection of a suspicious package or a direct threat to the organisation Internal emergencies, including loss of power, loss of water supply, structural collapse Emergencies that can affect key functions within theShow MoreRelatedCase Study Comparisons1314 Words   |  6 PagesUniversity of Phoenix Material Case Study Comparisons Part 1 Complete the chart below that differentiates the following insurance types. |Plan Type |Characteristics of Plan (5 to 7 characteristics) |Target Audience for Plan | |Indemnity Plan |No referrals needed, can see any doctor or specialist, No primary |Someone that wants the freedomRead MoreThe United States Department Of Justice1586 Words   |  7 Pages Emergency management (EM) addresses how government prepares for, mitigates against, responds to, and recovers from emergencies and disasters. The law regulating this area changes frequently with the goal of improving our ability to prevent loss of life and property; however, a recent legal development has not only hampered emergency management response efforts, but it also threatens to harm the very vulnerable portion of society it is intended to benefit. The U.S. Department of Justice (DOJ)Read MoreThe Scene Of A Major Emergency Or Disaster1336 Words   |  6 Pages Introduction The scene of a major emergency or disaster may appear chaotic and disorganized, with early responders and supplies moving about with no visible direction or coordination. However, each individual usually has a specific duty or role which they are assigned, and their efforts play a critical part in the initial response phase after an event takes place. Successful response includes proper management as well as having an appropriate number of trained actors and supplies involved atRead MoreCase Study Hcs/4901135 Words   |  5 PagesUniversity of Phoenix Material Case Study Comparisons Part 1 Complete the chart below that differentiates the following insurance types. |Plan Type |Characteristics of Plan (5 to 7 characteristics) |Target Audience for Plan | |Indemnity Plan |Able to choose hospital and doctor, Fee for service, deductible, |Individuals and FamiliesRead MoreEmergency Management Plan: Phase Three689 Words   |  3 Pagessecond phase of a traditional emergency management plan, and the third phase in the Los Angeles Unified School District is represented by the response phase. At this level, the emergency management team is already faced with the crisis situation, in the meaning that the risk has materialized, and they are forced to manage the ongoing crisis in an effort to minimize the losses of the emergency situation. Throughout the response phase, the actions of the emergency management team are completed inRead MorePreparedness Of Emergency Management Preparedness1369 Words   |  6 PagesPreparedness is defined, in the field of emergency management, as a state of readiness to respond to a disaster, crisis, or any other type of emergency situation. Throughout history the United States has always practiced some sort of preparedness. The text cites fallout shelters built in the 1950s in preparation of a potential air raid from the Soviet Union. Emergency management preparedness is nothing new to this country. It is not only a way to protect lives and property it is a way to ensure theRead MoreEducation1271 Words   |  6 Pagesreviewing the emergency preparedness plan for Lookout Valley High School, there were some questions that needed to be asked, reviewed and possibly modified. The school has never had to use the plan, and only practices small sections of it during the year. The plan was upd ated in 2009, to bring it up to date. Overview of Emergency Plan Before the rewrite of the emergency preparedness plan could be started, the principal sent out forms to all the teachers and staff to find out what different types of specialRead MoreCommunication And Safety Analysis925 Words   |  4 Pages Just like law enforcement and fire rescue, EMS capabilities are capable of handling many different types of situations. EMS holds a contract with Gold Cross EMS for services. There are 6 sub stations located throughout the area which are available 24-hours a day. Workers are capable of handling patients that are critical care to simple wheelchair transportation. The vehicles are also equipped with state of the art communication centers which track the ambulances and convalescent units by UHFRead MoreRisk Management Pl An Event That Has A Positive And Negative Impact On Project Objectives1265 Words   |  6 Pagesorganization database. 8.4. Risk Analysis There are two types of risk analysis methods will perform by the project manager. These two methods are Qualitative and Quantitative Risk Analysis. 8.4.1 Qualitative Risk Analysis(Replace the Impact and probability table) The project manager will assess the probability of occurrence and impact of identified risk on the project using input from the project team, and then measure the risk level using the following probability of occurrence approach: †¢High – ProbabilityRead MoreEssay On Know Your Financial Crisis And Say No To Your Unwanted Expenditure814 Words   |  4 Pagesfor your future. The reasons are mentioned as following: 1. Lowering of your credit score: A Credit score is a very important term to each and every American. It is a number representing the creditworthiness of a person. It represents the chances that he or she will pay their debts. By looking at the credit score of the consumers, the banks and credit card companies lend the money at their own risk. The credit score considers several factors, the major factors are, the history of payment, which

Technology Forecast Free Essays

Technology forecasting is considered to be vital in today’s business environment. There have been many success stories as well as failures. Forecasting technology impacts many aspects from acquiring a new technology to developing a new technology. We will write a custom essay sample on Technology Forecast or any similar topic only for you Order Now The course will start with reviewing several methodologies and then will analyze those impacts and how to make them beneficial for the organizations through many case studies, professional and research articles. Case Studies are selected from Harvard Business School Case Studies. Articles are selected from journals such as Technology Forecasting and Social Change. GRADING AND DELIVERABLES Specific Deliverable Cases (team – in class)30%Presentations Project (team)40%Paper + Presentation Readings (individual)30%2 article discussions ———————————————————————————– TOTAL100% GUIDELINES FOR DELIVERABLES CASES – Cases will be analyzed and presented in class by teams. You should read and get yourself familiar with the case before the class, READINGS – You will be assigned 2 articles to discuss in class. PROJECT – Identify an emerging technology as a team and develop a forecast using Technology Forecasting Tools. Examples of such projects will be provided. Your team is required to present the progress and results of your project during the scheduled times in class. Progress presentations should not exceed 20 minutes and the final presentation will be limited to 45 minutes. You also will need to submit a report which should follow TFSC journal guidelines for a journal paper. Your report should include a literature search justifying the topic and methods used. CASES 1. Strategic Planning at United Parcel Service, David A. Garvin, Lynne C. Levesque, Product#: 306002 2. Forecasting the Adoption of a New Product, Elie Ofek, Product#: 505062 – AND – Forecasting the Adoption of E-Books, Elie Ofek, Peter Wickersham, Product Number: 9-505-063 3. Illinois Superconductor Corp. : Forecasting Demand for Superconducting Filters, Mohanbir Sawhney, Lisa Damkroger, Greg McGuirk, Julie Milbratz, John Rountree, Product#: KEL096 READINGS Introduction to Technology Forecasting 1. Linstone, H. A. , TFSC: 1969-1999. Technological Forecasting and Social Change, Volume 62, Issues 1-2, August-September 1999, Pages 1-8. 2. Ayres, R. U. What have we learned? Technological Forecasting and Social Change, Volume 62, Issues 1-2, August-September 1999, Pages 9-12. 3. Martino, J. P. , Thirty years of change and stability. Technological Forecasting and Social Change, Volume 62, Issues 1-2, August-September 1999, Pages 13-18. 4. Porter, A. L. , Tech forecasting an empirical perspective. Technological Forecasting and Social Change, Volume 62, Issues 1-2, August-Septem ber 1999, Pages 19-28. 5. Linstone, H. A. , The 21st century: Everyman as Faust – technology, terrorism, and the multiple perspectives approach. Technological Forecasting and Social Change, Volume 70, Issue 3, March 2003, Pages 283-296. Technology Forecasting Techniques 6. Mishra, Somnath, S. G Deshmukh and Prem Vrat, Matching of technological forecasting technique to a technology , Technological Forecasting and Social Change, Volume 69, Issue 1, January 2002, Pages 1-27. 7. Technology Futures Analysis Methods Working Group, Technology futures analysis: Toward integration of the field and new methods, Technological Forecasting and Social Change, Volume 71, Issue 3, March 2004, Pages 287-303. 8. Silberglitt, R. , Hove, A. , and Shulman, P. Analysis of US energy scenarios: Meta-scenarios, pathways, and policy implications. Technological Forecasting and Social Change, Volume 70, Issue 4, May 2003, Pages 297-315. 9. Rowe, G. and G. Wright, The Delphi technique as a forecasting tool: Issues and analysis, International Journal of Forecasting, Volume 15, Issue 4, October 1999, Pages 353-375. 10. Lena Borjeson, Mattias Hojer, Karl-He nrik Dreborg, Tomas Ekvall and Goran Finnveden, Scenario types and techniques: Towards a user’s guide, Futures, Volume 38, Issue 7, September 2006, Pages 723-739. 11. Winebrake, J. J. , and Creswick, B. P. The future of hydrogen fueling systems for transportation: An application of perspective-based scenario analysis using the analytic hierarchy process, Technological Forecasting and Social Change, Volume 70, Issue 4, May 2003, Pages 359-384. 12. Sager, B. , Scenarios on the Future of Biotechnology. Technological Forecasting and Social Change, Volume 68, Issue 2, October 2001, Pages 109-129. 13. Modis, T. , Technological forecasting at the stock market. Technological Forecasting and Social Change, Volume 62, Issue 3, November 1999, Pages 173-202. 14. Devezas, Tessaleno C. , Harold A. Linstone and Humberto J. S. Santos, The growth dynamics of the Internet and the long wave theory, Technological Forecasting and Social Change, Volume 72, Issue 8, October 2005, Pages 913-935. 15. Ilonen, Jarmo, Joni-Kristian Kamarainen, Kaisu Puumalainen, Sanna Sundqvist and Heikki Kalviainen, Toward automatic forecasts for diffusion of innovations, Technological Forecasting and Social Change, Volume 73, Issue 2, February 2006, Pages 182-198. 16. Martino, Joseph P. , A comparison of two composite measures of technology , Technological Forecasting and Social Change, Volume 44, Issue 2, September 1993, Pages 147-159. Emerging Technology Forecasting Techniques 17. Inman, Oliver Lane, Timothy R. Anderson and Robert R. Harmon, Predicting U. S. jet fighter aircraft introductions from 1944 to 1982: A dogfight between regression and TFDEA, Technological Forecasting and Social Change, Volume 73, Issue 9, November 2006, Pages 1178-1187. 18. Anderson, Timothy, Rolf Fare, Shawna Grosskopf, Lane Inman and Xiaoyu Song, Further examination of Moore’s law with data envelopment analysis, Technological Forecasting and Social Change, Volume 69, Issue 5, June 2002, Pages 465-477. 19. Barley, S. R. , What Can We Learn from the History of Technology. Journal of Engineering and Technology Management, Volume 15, Issue 4, September 1998, Pages 237-255. 20. Bowonder, B. , T. Miyake, and B. Muralidharan, Predicting the future: Lessons from evolutionary theory, Technological Forecasting and Social Change, Volume 62, Issues 1-2, August-September 1999, Pages 51-62. 21. Guice, J. , Designing the Future: The Culture of New Trends in Science and Technology. Research Policy, Volume 28, Issue 1, January 1999, Pages 81-98. 22. Phaal, R. , Farrukh, C. J. P. , and Probert, D. R. , Technology Roadmapping – A Planning Framework for Evolution and Revolution. Technological Forecasting and Social Change, Volume 71, Issues 1-2, January-February 2004, Pages 5-26. 23. Kayal, A. , Measuring the Pace of Technological Process: Implication for Technological Forecasting. Technological Forecasting and Social Change, Volume 60, Issue 3, March 1999, Pages 237-245. 24. T. U. Daim, G. Rueda, H. Martin, and P. Gerdsri, Forecasting Emerging Technologies: Use of Bibliometrics and Patent Analysis, Technology Forecasting and Social Change, Volume 73, Issue 8, October 2006, Pages 981-1012. 25. Watts, R. J. and A. L. Porter, Innovation Forecasting. Technological Forecasting and Social Change, Volume 56, Issue 1, September 1997, Pages 25-47. SCHEDULE Subjects to be CoveredAssignment/Readings 1/4 †¢Teams Formed 1/11 †¢Introduction to Technology Forecasting †¢Technology Planning †¢Case Study 1: Strategic Planning at United Parcel Service †¢Case Preparation and Presentations †¢Article Discussion Articles 1-5 1/18UNIVERSITY CLOSED 1/25 †¢Extrapolation by Regression – Guest Speaker: Jisun Kim †¢Project Proposal Presentations 2/1 †¢Delphi, Analogy, Scenarios, Environment Monitoring, Growth Curves †¢In Class Exercise: Cable TV Diffusion Article Discussion ?Articles 6-16 2/8 †¢Case Study 2: Forecasting the Adoption of a New Product †¢Case Preparation and Presentations †¢Project Progress Presentations 2/15 †¢Emerging Technology Forecasting Methods: TFDEA – Guest Speaker – Tim Anderson 2/22 ?Emerging Technology Forecasting Methods: Bibliometrics, Pa tent Searches, †¢Article Discussion? ?Articles 17-25 3/1 †¢Project Results Presentations 3/8 †¢Case Study 3: Illinois Superconductor Corp. : Forecasting Demand for Superconducting Filters †¢Case Preparation and Presentations 3/15 †¢Final Reports How to cite Technology Forecast, Essays

Man, Spirit or a Devil vampires Essay Example For Students

Man, Spirit or a Devil vampires Essay The vampires strongest side was, that it was C. Baker VAMPIRES The Original Vampire contd. almost immortal; only some very special rites could kill them such as: putting a stick through their heart, chop their head off or burn the body. This type of vampire is also the most known type, especially Bram Stokers Count Dracula. Vlad Tsepesh a. k. a. Dracula Vlad Dracula or Vlad the Impaler was the real life prince upon whom Bram Stoker based his famous Count Dracula. Dracula was born in Transylvania in 1431 in the town of Sighisoara. We will write a custom essay on Man, Spirit or a Devil vampires specifically for you for only $16.38 $13.9/page Order now Sighisoara was then a German settlement called Schassburg, and the house in which Dracula was born was a typical German burghers house of fifteenth century, set in a cobbled lane. But the boy did not stay long in that environment. The family moved often, following the C. Baker VAMPIRES Vlad Tsepesh a. k. a. Dracula fortunes of the father, who was an ambitious soldier and a good one. In 1431, Vlad the father was given the Order of the Dragon by Emperor Sigismund of Nuremberg; by that honour he was bound to fight against the Turks, who were trying to swallow up Eastern Europe. The emblem of the order was a dragon (Dracul) with spread wings, hanging on a cross. The name Dracul means dragon or devil. His connection with this symbol, Vlad the elder was nicknamed Vlad Dracul (Vlad the Devil), and the nickname Dracula, son of Dracul, passed on to his son. At the age of only 13, the Turks who taught him to torture and impale people captured Dracula; but it was under his reign of Wallachia in 1456 to 1462 that he actually got a chance to use his knowledge. It is also from this time, most of the stories happen, here is an example: Once Dracula saw a man on the street with a dirty and ragged shirt. Dracula asked if he had a wife, and the man says yes. Dracula sees that she is healthy and has plenty of faults, and calls her lazy, so he has both her hands cut off and her body impaled. He procured a new wife for the man and showed her what happened to her lazy predecessor as a warning; the new wife was definitely not lazy. C. Baker VAMPIRES Vlad Tsepesh a. k. a. Dracula Draculas other name Tsepesh (or Tepes) means impaler. Vlad was named this because of his penchant for impalement as a way of punishing his enemies. Impalement was a particularly gruesome form of execution. It was done by pulling the victim onto a stake by horse, which was sharpened at the end and oiled, so it would NOT cause immediate death. Unfaithful wives and immoral women were punished by Dracula by cutting off their sex organs, skinning them alive and exposing them in public with their skin hanging from a nearby pole. Dracula especially enjoyed mass executions where several victims were impaled at once and their stake hoisted upright. As they hung suspended above the ground, the weight of their bodies would slowly drag them downwards, causing the sharpened end of the stake to pierce their internal organ. In order to better enjoy the mass spectacles, Dracula routinely ordered a banquet table set up in front of his victims, and would enjoy a leisurely supper amid the pitiful sights and sounds of the dying. The actual castle of Dracula is in the northern Wallachian town of Tirgoviste. Vlad Dracula died in 1476. Some stories tell that he died in battle where he had disguised himself as a Turk. As victory was near he became excited and ran to the top of a hill to see it all, but was mistaken for a Turk and therefore killed by his own men. Vlads tomb was opened in 1931 but it was empty except for a badly deteriorated skeleton, a golden crown, and a necklace with a serpent design and fragments of a red silk garment with a ring sewn on. .uada7e2430d748c94be3fb2a357a2d4cd , .uada7e2430d748c94be3fb2a357a2d4cd .postImageUrl , .uada7e2430d748c94be3fb2a357a2d4cd .centered-text-area { min-height: 80px; position: relative; } .uada7e2430d748c94be3fb2a357a2d4cd , .uada7e2430d748c94be3fb2a357a2d4cd:hover , .uada7e2430d748c94be3fb2a357a2d4cd:visited , .uada7e2430d748c94be3fb2a357a2d4cd:active { border:0!important; } .uada7e2430d748c94be3fb2a357a2d4cd .clearfix:after { content: ""; display: table; clear: both; } .uada7e2430d748c94be3fb2a357a2d4cd { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uada7e2430d748c94be3fb2a357a2d4cd:active , .uada7e2430d748c94be3fb2a357a2d4cd:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uada7e2430d748c94be3fb2a357a2d4cd .centered-text-area { width: 100%; position: relative ; } .uada7e2430d748c94be3fb2a357a2d4cd .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uada7e2430d748c94be3fb2a357a2d4cd .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uada7e2430d748c94be3fb2a357a2d4cd .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uada7e2430d748c94be3fb2a357a2d4cd:hover .ctaButton { background-color: #34495E!important; } .uada7e2430d748c94be3fb2a357a2d4cd .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uada7e2430d748c94be3fb2a357a2d4cd .uada7e2430d748c94be3fb2a357a2d4cd-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uada7e2430d748c94be3fb2a357a2d4cd:after { content: ""; display: block; clear: both; } READ: Tree Conservation EssayUnfortunately all these rings have been stolen from the History Museum of Bucharest where they were deposited. C. Baker VAMPIRES The Common Vampire Its impossible to give a complete picture of the vampire as it is in books, because there are many different versions of this myth. Just about every thinkable ability and weakness has probably been assigned to vampires at some point. The best vampire writings entertain us with suspense, horror, romance and sensuality, while providing an opening for our aggressive instincts and antisocial behaviour. It is impossible to predict what form it will take in the future, for the vampire has surpassed horror writings to become a powerful and fascinating parable for exploring our concerns about mortality and life after death. However, we can be sure that Dracula and his descendants will continue to entertain generations of new fans in whatever shape they assume. So, are vampires apparently ordinary human beings that sink his or her teeth into a donors flesh and suck blood as an act that produces a sexual explosion that excites and satisfies? Will we ever know? I guess only time will tell The Common Vampire Its impossible to give a complete picture of the vampire as it is in literature, because there are many different versions of this myth. Just about every thinkable ability and weakness has probably been ascribed to vampires at some point. The best vampire literature entertains us with suspense, horror, romance, and sensuality, while providing an outlet for our aggressive instincts and antisocial behavior. It is impossible to predict what form it will take in the future, for the vampire has transcended horror literature to become a powerful and fascinating metaphor for exploring our concerns about mortality and life after death. However, we can be sure that Dracula and his descendants will continue to entertain generations of new fans in whatever shape they assume.

Chapter 1 Course Notes Essay Example

Chapter 1 Course Notes Essay Financial Accounting Theory and Analysis 10e Chapter 1 The Development of Accounting Theory What is Theory? Webster defines theory as â€Å"Systematically organized knowledge, applicable in a relatively wide variety of circumstances; a system of assumptions, accepted principles and rules of procedure to analyze, predict or otherwise explain the nature of behavior of a specified set of phenomena. † Why is the development of a general theory of accounting important? The development of a general theory of accounting is because of the role accounting plays in our economic society. We live in a capitalistic society which is characterized by a self-regulated market that operates through the forces of supply and demand. What is the relationship of accounting research to accounting theory? The goal of accounting theory is to provide a set of principles and relationships that explains observed practices and predicts unobserved practices. That is, accounting theory should be able to explain why companies elect certain accounting methods over others and should enable users to predict the attributes of firms that elect various accounting methods. And as in other disciplines, accounting theory should also be verifiable through accounting research. Accounting research is needed to attain a more general theory of accounting, and in this regard the various theories of accounting that have been posited must be subjected to verification. The Early History of Accounting We will write a custom essay sample on Chapter 1 Course Notes specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Chapter 1 Course Notes specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Chapter 1 Course Notes specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Zenon Papyri * Accounting records have been found to date back several thousand years in various parts of the world. Discovered in 1915, the Zenon Papyri contained information Apollonius private estate for a period of about 30 years concerning construction projects, agricultural activities, and business operations during the 3rd century B. C. According to Hain, this â€Å"surprisingly elaborate accounting system† was used in Greece since the fi fth century B. C. â€Å"Zenon’s accounting system contained provisions for esponsibility accounting, a written record of all transactions, a personal account for wages paid to employees, inventory records, and a record of asset acquisitions and disposals. In addition, there is evidence that all the accounts were audited. † The Impact of the Renaissance * It wasn’t until approximately 1300-1500 the need arose for more accurate records due to the Italians merchants vigoursly pursing trade and commerce. Italian merchan ts borrowed Arabic numeral system and the basis of arithmetic and an evolving trend toward the present double entry book keeping system developed. In 1494 an Italian monk, Fra Luca Pacioli, wrote a book on arithmetic that included a description of double-entry bookkeeping. Pacioli’s work, Summa de Arithmetica Geometria Proportioniet Proportionalita, did not fully describe double-entry bookkeeping; rather, it formalized the practices and ideas that had been evolving over the years. Double-entry bookkeeping enabled business organizations to keep complete records of transactions and ultimately resulted in the ability to prepare financial statements. The evolution of joint ventures into ongoing businesses As ongoing business organizations replaced isolated ventures, it became necessary to develop accounting records and reports that reflected a continuing investment of capital employed in various ways and to periodically summarize the results of activities. By the nineteenth century, bookkeeping expanded into accounting, and the concept that the owner’s original contribution, plus or minus profits or losses, indicated net worth emerged. However, profit was considered an increase in assets from any source, as the concepts of cost and income were yet to be developed. Another factor that influenced the development of accounting during the nineteenth century was the evolution in England of joint ventures into business corporations. Under the corporate form of business, owners (stockholders) may not be management. Thus many individuals, external to the business itself, needed information about the corporation’s activities. Moreover, owners and prospective owners wanted to evaluate whether stockholder investments have yielded a return. As a consequence, the emerging existence of corporations created a need for periodic reporting as well as a need to distinguish between capital and income. The impact of the industrial revolution and the progressive movement The industrial revolution and the succession of the Companies Acts in England also increased the need for professional standards and accountants. In the later part of the nineteenth century, the industrial revolution arrived in the United States, bringing the need for more formal accounting procedures and standards. Railroads became a major economic influence. These companies created the need for supporting industries, which in turn led to increases in the market for corporate securities and an increased need for trained accountants as the separation of the management and ownership functions became more distinct. The concept of capital maintenance The major concern of accounting during the early 1900s was the development of a theory that could cope with corporate abuses that were occurring at that time, and capital maintenance emerged as a concept. This concept evolved from maintaining invested capital intact to maintaining the physical productive capacity of the firm to maintaining real capital. In essence, this last view of capital maintenance was an extension of the economic concept of income (see Chapter 5) that there could be no increase in wealth unless the stockholder or the firm were better off at the end of the period than at the beginning. The accountant as a protector of business interests World War I changed the public’s attitude toward the business sector. Many people believed that the successful completion of the war could at least partially be attributed to the ingenuity of American business. As a consequence, the public perceived that business had reformed and that external regulation was no longer necessary. The accountant’s role changed from protector of third parties to protector of business interests. Critics of accounting practice during the 1920s suggested that accountants abdicated the stewardship role, placed too much emphasis on the needs of management, and permitted too much flexibility in financial reporting. During this time financial statements were viewed as the representations of management, and accountants did not have the ability to require businesses to use accounting principles they did not wish to employ. The result of this attitude is well known. In 1929 the stock market crashed and the Great Depression ensued. Although accountants were not initially blamed for these events, the possibility of governmental intervention in the corporate sector loomed. Accounting in the United States since 1930 Meetings between NYSE and AIA One of the first attempts to improve accounting began shortly after the inception of the Great Depression with a series of meetings between representatives of the New York Stock Exchange (NYSE) and the American Institute of Accountants. The purpose of these meetings was to discuss problems pertaining to the interests of investors, the NYSE, and accountants in the preparation of external financial statements. The cooperative efforts between the members of the NYSE and the AIA were well received. However, the post-Depression atmosphere in the United States was characterized by regulation. There was even legislation introduced that would have required auditors to be licensed by the federal government after passing a civil service examination. AAA Similarly, in 1935 the American Association of University Instructors in Accounting changed its name to the American Accounting Association (AAA) and announced its intention to expand its activities in the research and development of accounting principles and standards. The first result of these expanded activities was the publication, in 1936, of a brief report cautiously titled â€Å"A Tentative Statement of Accounting Principles Underlying Corporate Financial Statements. † The four-and-one-half-page document summarized the significant concepts underlying financial statements at that time. SEC (Securities And Exchange Commission) Two of the most important pieces of legislation passed at this time were the Securities Act of 1933 and the Securities Exchange Act of 1934, which established the Securities and Exchange Commission (SEC). The SEC was created to administer various securities acts. Under powers provided by Congress, the SEC was given the authority to prescribe accounting principles and reporting practices. Nevertheless, because the SEC has acted as an overseer and allowed the private sector to develop accounting principles, this authority has seldom been used. However, the SEC has exerted pressure on the accounting profession and has been especially interested in narrowing areas of difference in accounting practice. * Securities Act of 1933 A federal piece of legislation enacted as a result of the market crash of 1929. The legislation had two main goals: (1) to ensure more transparency in financial statements so investors can make informed decisions about investments, and (2) to establish laws against misrepresentation and fraudulent activities in the securities markets. * Securities Exchange Act of 1934 The Securities Exchange Act of 1934 was created to provide governance of securities transactions on the secondary market (after issue) and regulate the exchanges and broker-dealers in order to protect the investing public. Committee on Accounting Procedure The AICPA’s Committee on Accounting Procedure (CAP) was formed in 1936. The committee had authority to issue pronouncements on matters of accounting practice and procedure in order to establish generally accepted practices. CAP was relatively inactive during its first two years, but became more active in response to the SEC’s release of ASR No. 4. One of the first responses was to expand CAP membership from 7 to 21. Major concerns were: * Use of the historical cost model of accounting. The then-accepted definition of assets as unamortized cost was seen by some critics as allowing management too much flexibility in deciding when to charge costs to expense. * The impact on inflation on reported profits. Lobbies were held by several companies in the 1940s for the use of replacement cost depreciation. Both CAP and the SEC rejected the efforts. This decade long debate didn’t until Congress passed legislation in 1954 amending the IRS Tax Code to allow accelerated depreciation. CAP works were originally published in the form of Accounting Research Bulletins (ARBs). The pronouncements did not dictate mandatory practice and received authority only from their general acceptance. The Accounting Research Bulletins were consolidated in 1953 into Accounting Terminology Bulletin No. 1, â€Å"Review and Resume† and ARB No 43 through 51 was published from 1953 until 1959. The recommendations of these bulletins that have not been superseded are contained in the FASB Accounting Standards Codifications. Accounting Principles Board By 1959 the methods of formulating accounting principles were being questioned as not arising from research or based on theory. The CAP was also criticized for acting in a piecemeal fashion and issuing standards that, in many cases, were inconsistent. Additionally, all of its members were part-time and as a result their independence was questioned. Finally, the fact that all of the CAP members were required to be AICPA members prevented many financial executives, investors, and academics from serving on the committee. As a result, accountants and financial statement users were calling for wider representation in the development of accounting principles. The AICPA responded to the alleged shortcomings of the CAP by forming the Accounting Principles Board (APB). The objectives of this body were to advance the written expression of generally accepted accounting principles (GAAP), to narrow areas of difference in appropriate practice, and to in the method of establishing accounting principles was quickly squelched when the first APB chairman, Weldon Powell, voiced his belief that accounting research was more applied and pure and that the usefulness of the end product was a major concern. The APB was composed of from seventeen to twenty-one members, who were selected primarily from the accounting profession but also included individuals from industry, government, and academia. Initially, the pronouncements of the APB, termed â€Å"opinions,† were not mandatory practice; however, the issuance of APB Opinion No. 2 (see FASB ASC 740-10-25 and 45) and a subsequent partial retraction contained in APB Opinion No. 4 (see FASB ASC 740-10-50) highlighted the need for standard-setting groups to have more authority. Financial Accounting Standards Board Due to the growing criticism of the APB, in 1971 the board of directors of the AICPA appointed two committees. The Wheat Committee, chaired by Francis Wheat, was to study how financial accounting principles should be established. The Trueblood Committee, chaired by Robert Trueblood, was asked to determine the objectives of financial statements. The Wheat Committee issued its report in 1972 recommending that the APB be abolished and the Financial Accounting Standards Board (FASB) be created. In contrast to the APB, whose members were all from the AICPA, this new board was to comprise representatives from various organizations. The members of the FASB were also to be full-time paid employees, unlike the APB members, who served part-time and were not paid. the Accounting Principles Board Formation and structure The APB was composed of from seventeen to twenty-one members, who were selected primarily from the accounting profession but also included individuals from industry, government, and academia. Types of pronouncements * APB Opinions Initially, the pronouncements of the APB, termed â€Å"opinions,† were not mandatory practice; however, the issuance of APB Opinion No. 2 (see FASB ASC 740-10-25 and 45) and a subsequent partial retraction contained in APB Opinion No. (see FASB ASC 740-10-50) highlighted the need for standard-setting groups to have more authority. The flap over accounting for the investment tax Credit This controversy was over the proper method to use in accounting for the investment tax credit. In the early 1960s the country was suffering from the effects of a recession. After Presid ent John F. Kennedy took office, his advisors suggested an innovative fiscal economic policy that involved a direct income tax credit (as opposed to a tax deduction) based on a percentage of the cost of a qualified investment. Congress passed legislation creating the investment tax credit in 1961. The APB was then faced with deciding how companies should record and report the effects of the investment tax credit. It considered two alternative approaches: 1. The flow-through method, which treated the tax credit as a decrease in income tax expense in the year it occurred. 2. The deferred method, which treated the tax credit as a reduction in the cost of the asset and therefore was reflected over the life of the asset through Rule 203 The lack of support for some of the APB’s pronouncements and concern over the formulation and acceptance of GAAP caused the Council of the AICPA to adopt Rule 203 of the Code of Professional Ethics. 10 This rule requires departures from accounting principles published in APB Opinions or Accounting Research Bulletins (or subsequently FASB Statements and now the FASB ASC) to be disclosed in footnotes to financial statements or in independent auditors’ reports when the effects of such departures are material. This action has had the effect of requiring companies and public accountants who deviate from authoritative pronouncements to justify such departures. Criticism of the APB 1. The independence of the members of the APB. The individuals serving on the board had full-time responsibilities elsewhere that might influence their views of certain issues. 2. The structure of the board. The largest eight public accounting firms (at that time) were automatically awarded one member, and there were usually five or six other public accountants on the APB. 3. Response time. The emerging accounting problems were not being investigated and solved quickly enough by the part-time members. The financial Accounting Standards Board (FASB) The Wheat Committee The Wheat Committee, chaired by Francis Wheat, was to study how financial accounting principles should be established. The AICPA quickly adopted the Wheat Committee recommendations, and the FASB became the official body charged with issuing accounting standards. The Trueblood Committee The Trueblood Committee, chaired by Robert Trueblood, was asked to determine the objectives of fi nancial statements. The FASB was established The Wheat Committee issued its report in 1972 recommending that the APB be abolished and the Financial Accounting Standards Board (FASB) be created. The structure of the FASB The structure of the FASB is as follows. A board of trustees nominated by organizations whose members have special knowledge and interest in financial reporting is selected. The organizations originally chosen to select the trustees were the American Accounting Association; the AICPA; the Financial Executives Institute; the National Association of Accountants (The NAA’s ame was later changed to Institute of Management Accountants in 1991), and the Financial Analysts Federation. In 1997 the board of trustees added four members from public interest organizations. The board that governs the FASB is the Financial Accounting Foundation (FAF). The FAF appoints the Financial Accounting Standards Advisory Council (FASAC), which advises the FASB on major policy issues, the selection of tas k forces, and the agenda of topics. The number of members on the FASAC varies from year to year. The bylaws call for at least twenty members to be appointed. However, the actual number of members has grown to about thirty in recent years to obtain representation from a wider group of interested parties. FASB Mission The FASB’s mission is to establish and improve standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors, and users of financial information. In attempting to accomplish this mission, the FASB seeks to: 1. Improve the usefulness of financial reporting by focusing on the primary characteristics of relevance and reliability and on the qualities of comparability and consistency 2. Keep standards current to reflect changes in methods of doing business and changes in the economic environment 3. Consider promptly any significant areas of deficiency in financial reporting that might be improved through the standard-setting process 4. Promote the international comparability of accounting standards concurrent with improving the quality of financial reporting 5. Improve the common understanding of the nature and purposes of information contained in financial reports Type of Pronouncements * Statements of Financial Accounting Concepts Statements of Financial Accounting Standards * Interpretations * Technical Bullentins Originally, the FASB issued two types of pronouncements, Statements of Financial Accounting Standards (SFASs) and Interpretations. Subsequently, the FASB established two new series of releases: (1) Statements of Financial Accounting Concepts (SFACs) and (2) Technical Bulletins. SFASs conveyed required accounting methods and procedures for specific accou nting issues and officially created GAAP. Interpretations were modifications or extensions of issues pronouncements. SFACs are intended to establish the objectives and concepts that the FASB will use in developing standards of financial accounting and reporting. To date, the FASB has issued seven SFACs, which are discussed in depth in Chapters 2, 6, and 7. SFACs differed from Statements of Financial Accounting Standards in that they did not establish GAAP. Similarly, they are not intended to invoke Rule 203 of the Rules of Conduct of the Code of Professional Ethics. It is anticipated that the major beneficiary of these SFACs will be the FASB itself. However, knowledge of the objectives and concepts the board uses should enable financial statement users to better understand the content and limitations of financial accounting information. Technical Bulletins were strictly interpretive in nature and did not establish new standards or amend existing standards. They were intended to provide guidance on financial accounting and reporting problems on a timely basis. Emerging Issues One of the fi rst criticisms of the FASB was for failing to provide timely guidance on emerging implementation and practice problems. During 1984 the FASB responded to this criticism by (1) establishing a task force, the Emerging Issues Task Force (EITF), to assist in identifying issues and problems that might require action; and (2) expanding the scope of the FASB Technical Bulletins in an effort to offer quicker guidance on a wider variety of issues. The EITF was formed in response to two confl icting issues. On the one hand, accountants are faced with a variety of issues that are not fully addressed in accounting pronouncements, such as interest rate swaps or new fi nancial instruments. These and other new issues need immediate resolution. On the other hand, many accountants maintain that the ever-increasing body of professional pronouncements has created a standards overload problem (discussed in more detail below). The FASB established the EITF in an attempt to simultaneously address both issues. The goal of the EITF is to provide timely guidance on new issues while limiting the number of issues whose resolutions require formal pronouncements by the FASB. Standards Overload One of the fi rst criticisms of the FASB was for failing to provide timely guidance on emerging implementation and practice problems. During 1984 the FASB responded to this criticism by (1) establishing a task force, the Emerging Issues Task Force (EITF), to assist in identifying issues and problems that might require action; and (2) expanding the scope of the FASB Technical Bulletins in an effort to offer quicker guidance on a wider variety of issues. The EITF was formed in response to two confl icting issues. On the one hand, accountants are faced with a variety of issues that are not fully addressed in accounting pronouncements, such as interest rate swaps or new fi nancial instruments. These and other new issues need immediate resolution. On the other hand, many accountants maintain that the ever-increasing body of professional pronouncements has created a standards overload problem (discussed in more detail below). The FASB established the EITF in an attempt to simultaneously address both issues. The goal of the EITF is to provide timely guidance on new issues while limiting the number of issues whose resolutions require formal pronouncements by the FASB. Standard setting as a political process A highly infl uential academic accountant stated that accounting standards are as much a product of political action as they are of careful logic or empirical fi ndings. 15 This phenomenon exists because a variety of parties are interested in and affected by the development of accounting standards. Various users of accounting information have found that the best way to infl uence the formulation of accounting standards is to attempt to infl uence the standard setters. The CAP, APB, and FASB have all come under a great deal of pressure to develop or amend standards so as to benefi t a particular user group. For example, the APB had originally intended to develop a comprehensive theory of accounting before attempting to solve any current problems; however, this approach was abandoned when it was determined that such an effort might take up to fi ve years and that the SEC would not wait that long before taking action. The Business Roundtable engaged in what initially was a successful effort (later reversed) to increase the required consensus for passage of a SFAS from a simple majority to fi ve of the seven members of the FASB. Congressional action was threatened over the FASB’s proposed elimination of the pooling of interest method of accounting for business combinations (see Chapter 16). Two of the most notable examples of the politicizing of accounting standards involved the issues of employee stock options and fair value accounting. Economic Consequences The increased pressure on the standard-setting process is not surprising, considering that many accounting standards have signifi cant economic consequences. Economic consequences refers to the impact of accounting reports on various segments of our economic society. This concept holds that the accounting practices a company adopts affect its security price and value. Consequently, the choice of accounting methods infl uences decision making rather than just refl ecting the results of these decisions. Consider the release of the FASB’s pronouncement on other postretirement benefi ts (OPRBs) FASB Statement No. 106, â€Å"Other Post Retirement Benefi ts† (see FASB ASC 715-10-30, 60, and 80). The accounting guidelines for OPRBs required companies to change from a pay-as-you-go basis to an accrual basis for health care and other benefi ts that companies provide to retirees and their dependents. The accrual basis requires companies to measure the obligation to provide future services and accrue these costs during the years employees provide service. This change in accounting caused a large increase in recorded expenses for many companies. Consequently, a number of companies simply ceased providing such benefi ts to their employees, at a large social cost. The impact on our economic society of accounting for OPRBs illustrates the need for the FASB to fully consider both the necessity to further develop sound reporting practices and the possible economic consequences of new codifi cation content. Accounting standard setting does not exist in a vacuum. It cannot be completely insulated from political pressures, nor can it avoid carefully evaluating the possible ramifi cations of standard setting. gaap Evolution of phrase: * Changed wording of auditor’s certificate brought about by meetings between NYSE and AIA One result of the meetings between the AICPA and members of the NYSE following the onset of the Great Depression was a revision in the wording of the certifi cate issued by CPAs. The opinion paragraph formerly stated that the fi nancial statements had been examined and were accurate. The terminology was changed to say that the statements are â€Å"fairly presented in accordance with generally accepted accounting principles. † This expression is now interpreted as encompassing the conventions, rules, and procedures that are necessary to explain accepted accounting practice at a given time. Therefore fi nancial statements are fair only to the extent that the principles are fair and the statements comply with the principles. * The APB’s definition * The Auditing Standards Executive Committee’s definition The current sources of GAAP consist of four levels described as A, B, C, and D by Statement of Auditing Standards No 69 he business reporting research project Steering Committee Working Group the role of ethics in accounting Ethics are concerned with the types of behavior society considers right and wrong. Accounting ethics incorporate social standards of behavior as well as behavioral standards that relate specifi cally to the profession. The e nvironment of public accounting has become ethically complex. The accountants’ Code of Professional Ethics developed by the AICPA has evolved over time, and as business transactions have become more and more complex, ethical issues have also become more complex. Accounting in Crisis – the events of the early 2000s On January 1, 2001, Enron’s stock was selling for over $90 per share. From that time until the early summer of 2001, nineteen investment research fi rms reviewed its performance and twelve had given it a â€Å"strong buy† recommendation, while fi ve others had recommended it as â€Å"buy. †27 Additionally, the company’s 2000 annual report indicated that its auditor had not found any signifi cant accounting problems. However, on August 14, 2001, it was announced that the company’s president, Jeffery Skilling, had resigned after only six months on the job for â€Å"purely personal reasons. Enron used what were termed special-purpose entities (SPEs) now termed variable interest entities (VIEs) to access capital and hedge risk. 28 By using SPEs such as limited partnerships with outside parties, a company may be permitted to increase its fi nancial leverage and return on assets without reportin g debt on its balance sheet. 29 The arrangement works as follows: An entity contributes fi xed assets and related debt to an SPE in exchange for an ownership interest. The SPE then borrows large sums of money from a fi nancial institution to purchase assets or conduct other business without the debt or assets showing up on the originating company’s fi nancial statements. The originating company can also sell leveraged assets to the SPE and record a profi t. At the time these transactions took place, the FASB required that only 3 percent of a SPE be owned by an outside investor. If this guideline is met, the SPE didn’t need to be consolidated and the SPE’s debt was not disclosed on the originating company’s fi nancial statements. Enron used SPEs to new degrees of complexity and sophistication, capitalizing them with not only a variety of fi xed assets and liabilities but also extremely complex derivative fi nancial instruments, its own restricted stock, rights to acquire its stock, and related liabilities. Additionally, as Enron’s fi nancial dealings became more complicated, the company apparently also transferred troubled assets that were falling in value, such as certain overseas energy facilities, its broadband operation, or stock in companies that had been spun off to the SPEs. As a consequence, the losses on these assets were kept off Enron’s books. To compensate partnership investors for assuming downside risk, Enron promised to issue additional shares of its stock. As the value of the assets in these partnerships fell, Enron began to incur larger and larger obligations to issue its own stock farther down the road. The problem was later compounded as the value of Enron’s stock declined. On October 16, 2001, the company reported a third-quarter loss and its stock dropped to about $33 a share. On October 28, as some of the problems with the SPEs were made public, a special committee of the board of directors of Enron was established under the chairmanship of William C. Powers, dean of the University of Texas Law School

Impact of Globalization Issues Essays

Impact of Globalization Issues Essays Impact of Globalization Issues Paper Impact of Globalization Issues Paper Essay Topic: Global Issues In recent years international health care organizations are more and more recognizing the impact of nursing shortages in every aspect of health care delivery. Many health care delivery systems are increasingly recognizing the threat recurrent shortages of registered nurses impose on the health care system (Krall Prus, 1995). This trend has become increasingly apparent from about the mid 1980s through the present, with concerns over nursing shortages leading many health care specialists to explore the dynamics of the nursing labor market using neoclassical labor market analysis (Krall Prus, 67). Using this approach many suggest that chronic nursing shortages in the global market result from depressed wages and excess demand, and that hospitals tend to command monopsonistic power when it comes to nursing management (Krall Prus, 1995). Under this line of thinking hospitals have traditionally resulted to substituting less skilled nursing personnel in place of RNs when the need arises to cope with nursing shortages, potentially decreasing the quality of care afforded patients and customers of the hospitals. One thing is certain; the future of the modern global health care organization is uncertain in light of chronic labor shortages among qualified nursing staff (Epstein, 1999). Many health care organizations are seeking alternative methods to provide patients with the quality care they need despite nursing shortages. Many are resorting to more emphasis on preventive care while others are branching out into the community in an attempt to identify community resources that may promote more support for patients in the health care environment (Epstein, 1999). Heirich (1998) notes that it is vital that health care organizations rethink the health care delivery system in order to provide the innovation necessary to accommodate the rapidly changing world economy and global health care environment. Old formulas for funding health care no longer work; health care costs continue to rise. Many organizations are focusing on cost control, which may include budget shortfalls when it comes to compensating nursing staff. More and more however health care organizations are also realizing the need to focus on adequate compensation and attention to nurses and nursing shortages. New business and health coalitions are forming in major metropolitan areas to help control costs and also attract more qualified personnel, stimulating physicians and nurses as well as other providers to work together to improve service delivery in light of new health care challenges (Heirich, 1998). Future of Workforce Design and Organization As health care organizations are changing in response to chronic nursing shortages so too are organizations re-evaluating workforce designs and organizational development within the health care setting. More and more the emphasis within the health care community and organization has been creating more flat organizational structures and global enterprises that encourage cross collaboration or multi-disciplinary approaches to health care delivery (Heirich, 1998). Chronic labor shortages of nurses in the global workplace have encouraged healthcare organizations to adopt new strategies for attracting qualified personnel. In Britain for example, long standing labor shortages among nurses has resulted in dire efforts to recruit migrant nurses from other countries (McGann Mortimer, 2004). Other organizations including the Illinois State Association are considering recognizing various grades of nurses, including nurses with twelve months vs. nurses with twenty seven or more months of training, in an effort to provide more and lower cost nursing care for patients (McGann Mortimer, 2004). Nursing workforce design is increasingly taking on an interdisciplinary and collaborative approach, with more nurses and health care staff trained in a diverse array of services (Clark Drinka, 2000). More health care systems are developing teams that consist of a nurse, doctor, nurse practitioner, social worker and other community members that provide a mix of services to patients (Clark Drinka, 2000). Such efforts may help relieve some of the burden associated with nursing shortages while still ensuring that patients are cared for and offered the highest quality services possible in the health care setting. Health care organizations are also working to involve nursing staff more in decision making processes in an attempt to increase job satisfaction and promote reduced turn over and greater loyalty among qualified staff, as many nursing shortages have been attributed to overworked nurses and lack of job satisfaction (Clark Drinka, 2000). More and more workforces are designing systems that allow nurse practitioners to provide feedback and work in an environment that is more supportive even in light of chronic over scheduling or nursing shortages. Impact Nursing Shortage on Education and Training Educational facilities are increasingly realizing the need to cross train staff to work in a variety of settings to cope with nursing shortages. Additionally more and more educational institutions are promoting team building skills training to promote greater collaboration among nurses and among other health care professionals. The chronic global nursing shortage has affected the future of nursing education, encouraging more training program development with emphasis on training nurses in other skill areas including stress management to cope with increasing burdens associated with under staffing and increasing job demands (McGann Mortimer, 2004). Mosley (1998) suggests that the health care delivery and training model is shifting to move from more individual patient care to care in an integrated environment or system that affords a continuum of services . In this environment accountability for the health and well being of patients moves from a single nurse or care provider to multiple members of the health care team. This wellness model is increasingly promoted in educational facilities where potential health care providers and nurse trainees are taught to include community organizations, family, physicians and individuals as part of the health care team working to promote the health and well being of patients. The new model for educating nurses includes more diversity training so nurses are capable of working with diverse patients from diverse backgrounds (Clark Drinka, 2000). It also includes an interdisciplinary approach to training that cross-trains nurses and other health care staff members to work in various settings and under dynamic conditions. Despite these efforts chronic shortages still exist with regard to attracting and retaining competent staff. Many educational facilities are realizing decreased enrollment in nursing programs, in part because many perceive the field of nursing to be one that is over taxing (Clark Drinka, 2000). Educators will have to work diligently at highlighting programs that provide potential nursing students with the skills necessary to face the new challenges associated with working in a global nursing environment. Bibliography : Clark, P. G. Drinka, T. J. (2000). Health care teamwork: Interdisciplinary practice and teaching. Westport: Auburn House. Epstein, R. A. (1999). Mortal peril: Our inalienable right to health care? Cambridge: Perseus Publishing. Heirich, M. (1998). Rethinking health care: Innovation and change in America. Boulder: Westview Press. Krall, L. Prus, M. J. (1995). Institutional changes in hospital nursing. Journal of Economic Issues, 29(1): 67. McGann, S. Mortimer, B. (2004). New directions in nursing history: International perspectives. New York: Routledge. Mosley, A. M. (1998). Community partnerships in neighborhood-based health care: A response to diminishing resources. Health and Social Work, 23(3): 231.

Islam Essay Example | Topics and Well Written Essays - 250 words

Islam - Essay Example The five pillars of Islam are Shahada (the Islamic creed), Salah (the formal prayer), Zakat (giving some possessions to people in need), Saum (prohibition to eat and drink and have sexual relations from dawn to dusk during Ramadan holidays) and The Hajj (an obligatory travel to Mecca). The Holy Quran is, thus, more than a religious book – it is a philosophical work providing people with information as for how they should live to find peace with the outside world and their own souls. The cause of schism is conflict over the leadership of two groups of followers: followers of Abu (the father of the Prophets wife) and followers of Ali (the husband of Prophets daughter). The goal was to constrain the rising conflict among the various communities; its ultimate aim was to develop a national identity by reconciling divisive issues and establishing a minimum level of consensus as a prelude to full national integration. In their politics, Sunnis are more liberal while Shiites are conservative. The failure to unit was in the boundaries of the communities and the fact that they refused to use the religion as a platform to cooperate and develop crosscutting interests. The strength of religious loyalties and identities eclipsed the integrative potential

Closing Entries Essay Example | Topics and Well Written Essays - 250 words

Closing Entries - Essay Example Finally, closing entries are also needed at the end of an accounting period in order to save accounting data in case any error occurs during closing. If any error is detected, then it will be easier for the business to rectify the error (Warren, Reeve & Duchac, 2012). Adjusting entries refer to journal entries made at the close of an accounting period to account for expenditure and income of the time in which they essentially occurred (Warren, Reeve & Duchac, 2012). The income recognition code is the root of making adjusting entries, which pertain to accrued and unearned spending under accrual-basis accounting. Adjusting entries are at times referred to as Balance Day adjustments as they are prepared on balance day. Closing entries, on the other hand, are journal entries prepared at the close of an accounting period to move short-term accounts to lasting accounts (Warren, Reeve & Duchac, 2012). An income review account can be used to demonstrate the balance between expenses and revenue, or they could be closed against retained incomes where dividend expenses will be subtracted

CASE STUDY CAMP BOW WOW Example | Topics and Well Written Essays - 750 words

CAMP BOW WOW - Case Study Example the most unique effect about working at the Camp Bow Wow’s commercial headquarters is that â€Å"you get to bring your dog to work with you every day.† Workers keep baby gates at workplaces to grasp dogs, and the firm encourages regular dog-walking free. In the perception of Heidi Ganahl, obligating pets at work keep each of the workers focused on the firm’s mission and what’s good for the variety A major section of camp bow wow’s culture that will not exist in other franchises is the workforce’s deep emotional linkage immediately apparent at commercial headquarters, where offices are busy with workers and pets alike. It is alleged that what is vital to the firm is the animals. Ganahl views that if the focus and commitment concerning the pets is kept, the culture will remain to be alive and well for a good period of time (Lussier, pg 59). Rendering to Heidi Ganahl, Camp Bow Wow’s top dog, commercial culture has many elements; it can imply that logos and patented material, are an availability on the Internet, or even the associations established with customers and workers. Unseen aspects of Camp Bow Wow’s culture include such values as overpowering difficulty to realize success, a major value conversed in Heidi Ganahl’s life story. On the other hand, another invisible value encompassed at Camp Bow Wow is the notion of providing a humanitarian amenity to dogs and dog fans. This invisible value has given rise to the creation of the Bow Wow Buddies Foundation, a non-profit branch of Heidi Ganahl’s firms that discovers homes for undesirable pets, finances in animal disease-prevention investigation, and endorses humane handling of animals. (Daft & Marcic, pg 34) Camp Bow Wow’s initial family-business culture was useful in the beginning stage of Camp Bow Wow’s development. Nevertheless, Founder Heidi Ganahl said that her firm mandated a varied of culture once it grew into a national franchise. In specific, Ganahl said that the focus had to drift

International Organisation Food And Agriculture Organisation Politics Essay

International Organisation Food And Agriculture Organisation Politics Essay The Food and Agriculture Organization of the United Nations (FAO, or ONUAA for its French equivalent Organisation des Nations Unies pour lalimentation et lagriculture is a specialised agency of the United Nations that leads international efforts to defeat hunger. FAO acts as a neutral forum, serving both developed and developing economies, where all nations meet as equals to negotiate agreements and debate policy. FAO is a source of information and knowledge, and helps developing countries/ countries in transition to modernise and improve agriculture, forestry and fisheries practices, ensuring adequate nutritional bal. Its Latin motto, fiat panis, translates into English as let there be bread. As of 8 August 2008[update], FAO has 191 members states along with the European Union and the Faroe Islands, which are associate members. 2. The Food and Agriculture Organization  [1]  of the United Nations leads international efforts to defeat hunger. During its last summit in 2009, plan of action including seven commitments was drawn out. First of it is to ensure an enabling political, social and economic environment for eradication of poverty, most conducive to achieving food security for all. The importance of basic human right to food and sustainable agriculture was acknowledged by the summit. FAO has a special programme for food security which is country based steering committee. Another programme, food security and vulnerability information and mapping system (FIVIMS) is established at world food summit and is monitoring undernourished people and issues of food access. United Nations Development Programme 3. The United Nations Development Programme is concerned with integrating human rights in all global development activity, such as democratic governance, poverty reduction, crisis prevention and recovery, energy and environment  [2]  . Export Credit Agencies (ECA) Watch 4. ECA Watch is an outreach mechanism of a larger international campaign to reform Export Credit Agencies (ECAs). Non-governmental organisations working on issues related to the environment, development, human rights and anti-corruption participating in this campaign lobby national and global ECAs to improve their environmental policies and practices. World Agro forestry Centre 5. The World Agro forestry Centre is an autonomous, not-for-profit research and development institution supported by nearly 60 different governments, private foundations regional development banks and the World Bank whose primary mission is to improve food and nutritional security and enhance environmental resilience in the tropics  [3]  . International Food Policy Research Institute(IFPRI) 6. Aimed at identifying and analysing policies for sustain ably meeting the food needs of the developing world. The research at IFPRI focuses on economic growth and poverty alleviation in low income countries and the sound management of the natural resource base that supports agriculture  [4]  . IFPRI seeks to make its research results available to all those in a position to use them and to strengthen institutions in developing countries that conduct research relevant to its mandate. Consultative Group on Agricultural Research 7. CGIAR is a strategic alliance of countries, global and regional organisations and private foundations supporting 15 international agricultural centers. It works with national agricultural research systems and civil society organisations to achieve sustainable food security and reduce poverty in developing countries through scientific research and research-related activities in the fields of agriculture, forestry, fisheries, policy and the environment  [5]  . Harvest Plus 8. Harvest Plus, one of the CGIARs Global Challenge Programs, seeks to reduce the effects of micronutrient malnutrition by harnessing the power of plant breeding to develop staple food crops that are rich in micronutrients, a process called Bio fortification  [6]  . International Rice Research Institute 9. The International Rice Research Institute, an autonomous, non profit agricultural research and training organisation with offices in more than ten nations aims to find sustainable ways to improve the well-being of poor rice farmers and consumers while protecting the environment  [7]  . International Institute for Environment and Development (IIED) 10. IIED is a London-based independent, non-profit organisation that promotes sustainable patterns of development through collaborative research, policy studies, networking and knowledge dissemination. It works to address global issues like mining, paper industry and food systems. A 34 year-old organisation with a presence in 18 countries, IIED was the first recipient of the Blue Planet Prize (1992) for outstanding contributions to environmental policy and action  [8]  . Centre for International Forestry Research (CIFOR) 11. CIFOR is an international research and global knowledge institution committed to conserving forests and improving the livelihoods of people in the tropics. CIFORs high impact research in 40 countries helps local communities and small farmers gain their rightful share of forest resources, while increasing the production and value of forest products  [9]  . International Water Management Institute 12. IWMI is a non-profit scientific research organization specialising in water use in agriculture and integrated management of water and land resources. The institute works with partners in the developing world to develop tools and methods to help these countries eradicate poverty and ensure food security through more effective management of their water and land resources  [10]  . World Health Organisation 13. The worlds foremost health agency, the World Health Organisation is the United Nations specialised agency for health, established with the objective is to achieve attainment by all peoples of the highest possible level of health  [11]  . The Energy and Resources Institute (TERI) 14. A research institute with five Indian centers and four overseas affiliates, TERI is committed to every finding innovative solutions to critical energy and environment related issues and the challenges posed by sustainable development from providing environment-friendly solutions to rural energy problems to helping shape the development of the Indian oil and gas sector and from tackling global climate change issues across continents to enhancing forest conservation efforts among local communities  [12]   United Nations Environment Programme (UNEP) 15. Established in 1972, United Nations Environment Programme acts as a catalyst, advocate, educator and facilitator to promote the wise use and sustainable development of the global environment. To accomplish this, UNEP works with a wide range of partners, including United Nations entities, international organisations, governments, non-governmental organisations, the private sector and civil society  [13]  . United Nations Development Programme (UNDP) 16. Located in New York. It has separate divisions called sustainable Energy and Environmental division (SEED) and Sustainable Lively hoods unit of poverty. The former focus on food security research and monitoring technical and policy issues e.g. food security action plans and the later focus on field and policy work having direct relevance to food security and emphasis on capacity building  [14]  . Centre for Science and Environment 17. Centre for Science and Environment (CSE) is an independent, public interest organisation which aims to increase public awareness on science, technology, environment and development  [15]  . Environment News Service 18. The Environment News Service provides daily international news updates on the environment  [16]  . World Bank 19. World Bank is the major founder for Consultative Group on International Agricultural Research (CGIAR) which conducts much of Green Revolution related R D. Adequacy Of Role/Contribution Of International Organisation 20. As per UN convention, Industrialised and developed countries are required to spend 0.7 percent of their national income on international aid. However, except Norway, Sweden, Luxemburg, Netherlands and Denmark, no other developed nation is meeting the target. (Data fact Map of UN). Lack of political consensus among developed countries on food security related issues and non implementation of UN convention in terms of national contribution towards aid has further weakened UN standing. Organisation of economic co-operation and development data mentions reduction of aid by 5.1 percent with effect from 2005 to economic crisis looming those countries. A mere scrutiny of mother organisation of world in respect of Global food security i.e Food And agriculture Organisation of United Nation enunciates the level of inadequacy of international agencies dealing with the crisis. 21. There has been severe public criticism  [17]  of FAO performance for the last 30 years. After the 1974 World Food Conference, due to dissatisfaction with the FAOs performance two new organizations ie World Food Council (WFC) and the International Fund for Agricultural Development (IFAD were created. World Food Programme, which was started as an experimental 3-year programme under FAO, grew in size and independence, with the directors of FAO and WFP struggling for power. Heritage Foundation, a conservative think tank based in Washington, D.C. wrote that the sad fact is that presently, the FAO has become essentially irrelevant in combating global hunger. In recent years, bloated bureaucracy known for mediocrity of its work and the inefficiency of FAO staff, the FAO has become increasingly politicised. In the same year, the Society journal published a series of articles about FAOs inefficiency and lack of transparency. 22, US State Department expressed the view that The Food and Agriculture Organization has lagged behind other UN organizations in responding to US desires for improvements in program and budget processes to enhance value for money spent. In 1991, The Ecologist magazine produced a special issue written by experts such as Helena Norberg-Hodge, Vandana Shiva, Edward Goldsmith, Miguel A. Altieri and Barbara Dinham under the heading The UN Food and Agriculture Organization: Promoting World Hunger and questioned FAOs policies and practices in forestry, fisheries, aquaculture, and pest control. 23. In 1996, World Food Summit organised by FAO was attended by 112 Heads or Deputy Heads of State and Government and concluded with the signing of the Rome Declaration, which established the goal of halving the number of people who suffer from hunger by the year 2015. In the meantime, 1,200 Civil Society Organisations (CSOs) from 80 countries participated in an NGO forum. The forum was critical of the growing industrialisation of agriculture and called upon governments and FAO to do more to protect the Right to Food of the poor. Although some progress has been made during the last twenty years, the future is not bright. At the World Food Summit in 1996, high-level policy makers from more than 112 countries agreed to the goal of reducing the number of food-insecure people by half, to 400 million, between 1990 and 2015. At the follow-up Summit in 2002, policy makers from the same countries reaffirmed the same goal. Unfortunately, action does not seem to follow rhetoric. Even after ten years of first summit less than one third of the countries managed to reduce the number of food-insecure people, while one half experienced an increase. 24. To reach this target of world food summit, 22 million people need to escape from food insecurity every year. But only 6 million have been fortunate enough to do so. Given the progress, this commitment seems to have been mere lip service. Till date the countries who undertook this commitment have made choices each year about how to spend money and expend effort and policy goals to pursue. But for the vast majority, food security has never made it near the top of the agenda. With the present policies and approaches now being pursued in most countries and international organizations, there is no possibility of achieving sustainable food security for all in next decade. The Food and Agriculture Organization of the United Nations projects that even the more limited WFS goal will be met not by 2015, but by 2050.

Reason and Irrationality in King Lear :: William Shakespeare Love Essays

Reason and Irrationality in King Lear In King Lear, Shakespeare deals with the issue of reason and irrationality namely by contrasting the Machiavellian tactics of Goneril, Regan, and Edmund with the love Edgar, Gloster, Lear, and Cordelia experience. In doing so, he makes a very profound statement about the nature of human existence—he condemns reason and natural order while promoting the most nonsensical thing in the world: human love. From the text, I ascertain that Shakespeare believes that all anybody needs to survive in the unjust world is love. I, however, believe that this is an unreasonable and unattainable expectation for the world we live in. In order to understand how Shakespeare arrived at his conclusion, it is first necessary to see how he characterized reason and unreason in the text. Reason was found in the egoists, the characters that would be considered the villains or antagonists of the play. Edmund, Goneril, and Regan displayed behavior of methodical ambition for status and power. Their actions reflected the desire to revert to what I deem â€Å"the natural† and discard the contrived conventions of society. For example, Edmund desired to be treated like the human being he was instead of the bastard he was known in society. Goneril and Regan’s treason against their father, though considered disrespectful by society, would be perfectly normal in nature where survival depends on the strongest and fittest. Thus, this conduct is based on reason and the basic means to survive and thrive without interventions from emotions or moral dilemmas. The behavior of these characters is symbolically reflected in the storm. The storm, a natural event, was destructive and nondiscriminatory. It did not care whether there was a king or a beggar in its path. Although the storm appeared to be chaotic, its behavior can be described in scientific terms. When we do this, we find that its movements are very precise and that lightning does not strike randomly but due to the buildup of excess charge in the sky. Thus, the storm, and in fact all things in nature, behaves in calculating and precise manners. Edmund, Goneril, and Regan’s behavior was no different from what can be found in nature. Certain species of animals will kill â€Å"family† members in order to gain territory or become alpha male of the pack.

Organizational Theory and Designs

CHAPTER 1: ORGANIZATIONS AND ORGANIZATIONAL EFFECTIVENESS 1 PART 1: LECTURE OUTLINES CHAPTER 1 ORGANIZATIONS AND ORGANIZATIONAL EFFECTIVENESS TEACHING OBJECTIVES 1. To define an organization and explain how it creates value in three stages: input, conversion, and output. (1. 1) 2. To discuss why organizations exist and how they achieve goals collectively. (1. 1) 3. To describe organizational theory, how organizations function, and relate to organizational structure, culture, and design. (1. 2) 4. To show how organizational design helps a company gain a competitive advantage, deal with contingencies, manage diversity, increase efficiency, increase innovation, and effectively manage change. (1. 2) 5. To illustrate the consequences of poor organizational design and loss of control over structure and culture. (1. 2) 6. To discuss the three approaches of evaluating organizational effectiveness: external resource, internal systems, and technical approach. (1. 3) 7. To distinguish between official goals and operating goals. (1. 3) CHAPTER SUMMARY This chapter discusses organizations, organizational theory, and the importance of organizational design. An organization is a tool for individuals or groups to accomplish goals. An organization creates value at three stages: input, conversion, and output. Organizations exist because people working together to produce goods and services create more value than those working alone. Organizations may exist to increase specialization and the division of labor, to use large-scale technology, to manage the external environment, to economize on transaction costs, and to exert power and control over employees. The components of organizational theory are structure, culture, and design and change. Organizational design helps a company gain a competitive advantage, deal with contingencies, manage diversity, increase efficiency, and increase innovation. Poor organizational design results in company decline, including layoffs and difficulty in attracting resources. Organizational effectiveness should be measured according to a manager’s methods of control, innovation, and efficiency. The external resource, internal systems, or technical approach measure effectiveness and official and operative goals. Difficulties arise in measuring effectiveness even if stakeholders have shared goals. An organization must select the best way to achieve goals. Organizations are affected by the environment, technology, and processes. The technological environment entails innovations in production processes and new products. CHAPTER OUTLINE 1. 1 What Is an Organization? An organization is intangible; it cannot be touched or felt. Thinking of an organization evokes its product or service. The name Anheuser-Busch evokes the word beer, not why the company provides beer or how it controls employees. An organization groups people and resources to provide goods and services to PHAM HOANG HIEN CHAPTER 1: ORGANIZATIONS AND ORGANIZATIONAL EFFECTIVENESS satisfy a need. Entrepreneurs begin with the idea of satisfying a need then collect resources to meet that need. 2 Focus on New Information Technology: Amazon. com, Part 1 Amazon. com shows how Jeff Bezos saw a need and created an organization to meet it. Q. What prodded Jeff Bezos to start Amazon. com? A. Recognizing the opportunity to build an online bookstore, Bezos started Amazon. com to meet the needs of computer owners. An online bookstore could offer a larger and more diverse selection, an online catalogue, an easy search capability, and book reviews. Bezos organized resources to meet the need for a new bookstore. Notes_______________________________________________________ __________________ ____________________________________________________________ __________________ ____________________________________________________________ __________________ How Does an Organization Create Value? The value creation process includes input, conversion, and output. (Fig. 1. 1) Q: What are some inputs a company needs to provide a product or service? A. Inputs include human resources, raw materials, capital, money, and information. The value created depends on how a company selects and acquires inputs. Inputs are transformed into outputs at the conversion stage. The value created depends on the quality of an organization’s skills and its ability to learn from the environment. The conversion process results in an output, a finished good, or a service. Sales revenue buys more inputs, so the value creation cycle continues. The value creation cycle is used for nonprofit and manufacturing organizations and service companies. Q. What are the inputs, conversion processes, and outputs at McDonald’s? (Fig. 1. 2) A. The inputs include meat, fries, employees, and capital, such as cooking equipment. The conversion process entails cooking the food. The outputs are sandwiches and fries. Why Do Organizations Exist? People working together to produce goods and services create more value than people working alone. (Fig. 1. 3) Organizations exist: To Increase Specialization and the Division of Labor In an organization, individuals concentrate on areas of expertise and become more specialized. An engineer concentrates on one part of the engine and this specialization creates value. To Use Large-Scale Technology Technology enables organizations to achieve economies of scale, cost savings through large-volume production, and economies of scope and cost savings when underutilized resources are shared. To Manage the External Environment An organization has the resources to monitor and manage the external environment, economic, political, and social factors plus suppliers and the market. PHAM HOANG HIEN CHAPTER 1: ORGANIZATIONS AND ORGANIZATIONAL EFFECTIVENESS To Economize on Transaction Costs An organization can reduce transaction costs and expenses associated with negotiating, monitoring, and governing exchanges between people and can control exchanges. To Exert Power and Control Organizations exert pressure on employees to conform to task requirements through employment, promotions, and rewards. Employees who fail to meet organizational needs can be fired. These factors create stability, allow skills to develop, and increase value creation. Notes_______________________________________________________ _________________________ ____________________________________________________________ _______________________ ____________________________________________________________ ________________________ 3 1. 2 What Is Organizational Theory? Organizational theory is the study of how organizations work and how they impact and are impacted by the environment. Organizational theory relates to organizational structure, culture, and design. (Fig. 1. 4) Organizational structure is the formal setup of task and authority relationships. Structure controls the coordination of activities and employee motivation to attain goals. Structure must be continually evaluated. Organizational culture, a set of shared values and norms, shapes and controls behavior in an organization. Q: What determines culture? A. People, ethics, rights, and structure of the organization develop culture, which can vary widely among organizations that provide similar goods in the same environment. Coca-Cola promotes cooperation and has loyal employees, whereas Pepsi has a competitive culture and high turnover among managers. Organizational design is the process by which managers select and manage aspects of structure and culture so that an organization can achieve its goals. Organizational change is the process by which organizations move from their present state to some desired future state to increase their effectiveness. Organizational Insight 1. 1: Opposite Organizing Approaches at Apple and Dell Computer People who start new organizations may lack the skills necessary to effectively design the organization. The Apple Computer example illustrates this well. Q. How do these two examples illustrate the importance of proper organizational design? PHAM HOANG HIEN Notes_______________________________________________________ _________________________ ____________________________________________________________ _______________________ ____________________________________________________________ ________________________ CHAPTER 1: ORGANIZATIONS AND ORGANIZATIONAL EFFECTIVENESS A. Although Jobs stated he had little desire to manage the day-to-day operations of Apple Computer, he desired more power as the organization grew and began intervening in the day-to-d ay operations, which caused problems. Michael Dell, on the other hand, understood how important a well designed organization was, and created a structure centered on participative management, involving employees in decision making, and was not as hands-on s Jobs. Notes_______________________________________________________ _________________________ ____________________________________________________________ ________________________ ____________________________________________________________ ________________________ The Importance of Organizational Design and Change Organizational design helps a company deal with contingencies, achieve competitive advantage, manage diversity, and increase its efficiency and ability to innovate goods and services. Dealing with Contingencies A contingency is an event that might occur and must be considered in planning. An organization can design its structure to increase environmental control. Structure and culture are tools to respond to the complex global environment and changing technology. Structure can make employees aware of the environment. Gaining Competitive Advantage Good organizational design offers a competitive advantage. Competitive advantage emerges from core competencies, value creating skills, and abilities. Managers formulate strategies, specific decisions, and actions that use core competencies to create a competitive advantage. Organizational design implements an organization’s strategy and serves as a core competency because it is difficult to imitate. Although technology can be duplicated, structure and culture develop over time, making them hard to imitate. Organizational design must be continually evaluated. 4 Notes_______________________________________________________ __________________ ____________________________________________________________ __________________ ____________________________________________________________ __________________ Managing Diversity The workforce has become more diverse with people of many national origins working for the same company. The workforce is aging. An organization must design its structure to maximize its diverse talents and to develop a culture that fosters cooperation. Promoting Efficiency, Speed, and Innovation Organizational design can increase efficiency. Companies must compete with low-cost producers globally and market new products and processes. Organizational design makes a firm more innovative. An entrepreneurial culture fosters innovation. The Consequences of Poor Organizational Design Organizational design affects company performance, yet employee roles are often neglected until a crisis hits. One reason for decline is a loss of control over organizational structure and culture. Talented employees leave, acquiring resources becomes difficult, and the value creation process slows down. Managers are forced to change elements of structure and culture that derail strategy. PHAM HOANG HIEN CHAPTER 1: ORGANIZATIONS AND ORGANIZATIONAL EFFECTIVENESS Notes_______________________________________________________ ________________________ ____________________________________________________________ ________________________ ____________________________________________________________ ________________________ †¢ Refer to discussion question 2 here to emphasize the connection between organizational theory and structure, design, change, and culture. ____________________________________________________________ ____________________ _ ____________________________________________________________ _____________________ 5 Organizational Insight 1. 2: Redesigning AOL Time Warner This shows the difficulty in trying to merge two organizations that have very different structures. In addition, it shows that regardless of the structure, environmental factors often play a role in the success of an organization, as evidenced by the implosion of the dot. coms. Q. How were the two organizations different from a structure standpoint? A. Time Warner was very hierarchical in nature, while AOL was used to the fast-changing environment of the IT industry. Q. What did Pitman do to try and reorganize the two companies? A. He created teams of both AOL and Time Warner managers, but made AOL managers responsible for taking the lead, as they were more accustomed to brining new products to market quickly. 1. 3 How Do Managers Measure Organizational Effectiveness? Researchers see primary management tasks as control, innovation, and efficiency. Control means dominating the external environment, attracting resources, and using political processes. Innovation entails developing skills to discover new products and processes and designing adaptable structures and cultures. Efficiency involves developing modern plants for rapid, low-cost production, fast distribution, and high productivity. The External Resource Approach: Control Using the external resource approach, managers evaluate a firm’s ability to manage and control the external environment. A. Indicators include stock price, profitability, return on investment, and the quality of a company’s products. An important factor is management’s ability to perceive and respond to environmental change. Stakeholders value aggressiveness and an entrepreneurial spirit. Organizational Insight 1. 3: Ups and Downs at Mattel This case illustrates the importance of both understanding customer needs, and adapting the organization to meet those needs. Q. What mistake did Mattel make in trying to satisfy customer needs? PHAM HOANG HIEN Q. What indicators evaluate control over the environment? CHAPTER 1: ORGANIZATIONS AND ORGANIZATIONAL EFFECTIVENESS A. The skills needed to rapidly develop new products was not present in the company that they purchased. They also underestimated the need to update their core products. The Internal Systems Approach: Innovation Using the internal systems approach, managers evaluate organizational effectiveness. Structure and culture should foster flexibility and rapid response to market changes. Flexibility fosters innovation. Q. How is innovation measured? A. Innovation is measured by the time needed for decision making, production, and coordinating activities. The Technical Approach: Efficiency The technical approach is used to evaluate efficiency. Effectiveness is measured by productivity and efficiency (ratio of outputs to inputs). Productivity gains include increased production or cost reduction. Productivity is measured at all stages of production. Q. What productivity measures could a service company use? A. Service companies could measure sales per employee or the ratio of goods sold to goods returned. Employee motivation is an important factor in productivity and efficiency. 6 Organizational Insight 1. 4: Improving Efficiency at FedEx and UPS This case is a good illustration of the importance of continuously evaluating and updating technology. A good class discussion can revolve around the positive benefits of advanced technology. Consider for example, the increased efficiency of these two companies as they affect consumers. Measuring Effectiveness: Organizational Goals Organizational effectiveness is evaluated by both official and operative goals. Official goals are the formal mission of an organization. Operative goals are specific long-term and short-term goals that direct tasks. Managers use operative goals to measure effectiveness. To measure control, managers examine market share and costs; to measure innovation, they review decision-making time. To measure efficiency, they use benchmarking to compare the company to competitors. A company may be effective in one area and ineffective in another. Operative goals must be consistent with official goals. Notes_______________________________________________________ _________________________ ____________________________________________________________ ________________________ ____________________________________________________________ ________________________ †¢ Refer to discussion question 3 here to emphasize the approaches to evaluating effectiveness. ___________________________________________________________ ________________________ ____________________________________________________________ ________________________ 1. 4 The Plan of This Book PHAM HOANG HIEN CHAPTER 1: ORGANIZATIONS AND ORGANIZATIONAL EFFECTIVENESS Figure 1. 5 shows how the various chapters fit together and provide a model of the components involved in organizational design and change. Notes______________ _________________________________________ _________________________ ____________________________________________________________ _______________________ ____________________________________________________________ ________________________ The Organizational Environment. The main source of uncertainty is the environment. An organization must design its structure to handle relationships with stakeholders in the external environment. Chapter 3 presents models that reveal why the environment is a major source of uncertainty. Organizational Design. Chapters 4 through 8 examine the principles on which organizations operate and the choices available for designing and redesigning their structures and cultures to match the environment. The same basic problems occur in all work settings, and the purpose of design is to develop a structure that will respond effectively to these challenges. Organizational Change. The third part of the book deals with the many different issues involved in changing and redesigning organizations. Included in this are different change processes, such as restructuring, reengineering, and innovation management. 7 Notes_______________________________________________________ _________________________ ____________________________________________________________ _______________________ ____________________________________________________________ ________________________ DISCUSSION QUESTIONS AND ANSWERS 1. How do organizations create value? What is the role of entrepreneurship in this process? Value is created at the input, conversion, and output stages. At the input stage, value depends on how an organization selects and obtains the inputs; certain inputs create more value than others. At the c onversion stage, value is a function of employees’ skills, including learning from and responding to the environment. Output creates value if it satisfies a need. Entrepreneurship is important to value creation by recognizing a need, gathering inputs, and transforming them into a product or service. The value creation cycle will continue if customers are satisfied; profits will generate inputs and improve the conversion process. Organizational theory is the study of how organizations function, impact, and are impacted by employees and society. Organizational theory deals with the whole organization. Organizational design entails decisions about structure and culture. Structure is the formal set of task and authority relationships. Culture is a set of shared values that influence behavior. 3. What is organizational effectiveness? Discuss three approaches to evaluating effectiveness and the problems of each approach. PHAM HOANG HIEN 2. What is the relationship among organizational theory, organizational design and change, and organizational structure and culture? CHAPTER 1: ORGANIZATIONS AND ORGANIZATIONAL EFFECTIVENESS 8 Organizational effectiveness is the ability to use resources to create value; it includes control, innovation, and efficiency. The external resource approach evaluates a company’s ability to obtain scarce resources and valued skills. Indicators include stock prices, return on investment, and market share. These indexes are compared to competitors’ indexes. However, this approach fails to consider organizational culture and structure. The internal approach reviews the organization’s ability to innovate and respond to the environment quickly. Some measures include the length of time to get a product to market, decision-making speed, and coordination time. This approach does not consider costs or the external environment. The technical approach reviews an organization’s ability to use skills and resources efficiently. This approach considers neither the environment nor structure and culture. It is important to evaluate an organization in all three areas—control, innovation, and efficiency. 4. Draw up a list of effectiveness goals that you would use to measure the performance of (a) a fastfood restaurant and (b) a school of business. Answers may vary slightly. A fast-food restaurant’s goals will differ from a business school’s goals because a school is a nonprofit organization. a) Some goals used to measure effectiveness at a fast-food restaurant are as follows: †¢ Lower the cost of meat, fries, and drinks †¢ Lower the cost of labor †¢ Improve the quality of the food and the skills of employees †¢ Increase profits, stock price, and market share †¢ Satisfy government requirements on sanitation and fair labor laws †¢ Reduce employee conflict †¢ Speed up the time it takes a customer to get served †¢ Find more efficient ways to produce the food †¢ Increase employee motivation by offering bonuses †¢ Increase the quality of the food by ensuring that it is not too greasy and that it is hot when customers receive it †¢ Minimize the number of wrong orders (b) A business school’s goals may be the following: †¢ Attract top-quality faculty and students †¢ Maximize revenue from tuition and fees †¢ Offer scholarships †¢ Attract revenue from organizations and alumni †¢ Gain the support of the local community †¢ Reduce conflict †¢ Ensure that students are prepared for jobs †¢ Respond to changes in the environment by constantly updating the curriculum †¢ Encourage coordination among faculty from different departments ORGANIZATIONAL THEORY IN ACTION PHAM HOANG HIEN CHAPTER 1: ORGANIZATIONS AND ORGANIZATIONAL EFFECTIVENESS Practicing Organizational Theory: Open Systems Dynamics Small groups of students design an organization from an open systems perspective: (1) They determine the input, conversion, and output processes. (2) They identify environmental factors with the greatest impact. (3) They determine the best measures to evaluate the organization’s effectiveness. 9 The Ethical Dimension This exercise will be found at the end of each chapter. The purpose is to help students understand the many ways in which organizations can help or harm people in the environment. The first example asked students to examine doctors and hospitals, and the role of ethics in this environment. List examples of these ethical and unethical behaviors. This is a complicated question because there are so many different systems in the health-care environment. Students may draw upon their own experiences with doctors, good or bad, or the discussion could shift to how insurance companies, Medicare, or the local community play a role in the ethical behavior of doctors and hospitals. 2. How do these behaviors relate to the attempts of doctors and nurses to increase organizational effectiveness in the ways discussed in the chapter? Or, to attempts to pursue their own self-interest? This question serves as a good example of why organizations exist. Make sure the students understand that all organizations attempt to increase their effectiveness, not just for-profit corporations. Another interesting discussion might revolve around defining and discussing what â€Å"pursuing their own selfinterest† really means from both an ethical and a practical standpoint. Making the Connection Also at the end of every chapter; this exercise encourages students to look through newspapers and magazines to find an example of a company that is dealing with some of the issues in the chapter. The assignment for this chapter is to find a company that has helped or harmed a stakeholder group. ANALYZING THE ORGANIZATION Each student selects a company to study throughout the semester. Each module requires the student to collect and analyze company information for a report to be submitted at the end of the semester. Students can choose an organization like IBM or GM and find articles in magazines, on the Internet, or contact a local company. The report answers the following questions: what is the organization, what does it do, how does it create value, who are its stakeholders, what are its major problems, and how does it measure effectiveness? Other issues such as technology or competition may be included. CASE FOR ANALYSIS Kinko’s New Operating Structure Kinko’s Inc. as the largest retailer of copying stores, but it had to change its operating structure in response to competitive pressures from Quick Copy and OfficeMax. Kinko’s had an informal management process and difficulty managing growth. The founder, Orfalea, used franchising to launch PHAM HOANG HIEN CHAPTER 1: ORGANIZATI ONS AND ORGANIZATIONAL EFFECTIVENESS growth, but this approach did not assist Kinko’s in controlling costs or improving customer service. Consultants recommended centralized control and a set of internal authority relationships. 1. What were the problems facing Kinko’s managers? 10 Kinko’s structure was too decentralized, making it difficult for top managers to implement changes rapidly. The structure was informal with decisions left up to Kinko’s franchisees, and no sharing of ideas on customer service. 2. What steps did managers take to solve these problems? Kinko’s centralized operating systems such as purchasing and finance to reduce costs. Kinko’s developed a more formal organizational structure. It may take time for the store owners to relinquish control, but this structure should help Kinko’s to respond more quickly to competition and develop consistent procedures and services to meet customer needs. TEACHING SUGGESTIONS 1. Ask students to explain the models in the chapter and give examples. Models can be assigned in advance. Use discussion questions during the class by dividing students into small groups or pairs and allowing 5–7 minutes to prepare answers, which are then shared with the class. 3. Use role play to measure organizational effectiveness using the three approaches. One student is a manufacturing manager who eval uates performance using the technical approach. One student is an R&D manager who uses the internal systems approach. The third is a corporate manager who uses the external resource approach. Stress that performance is evaluated based on control, innovation, and efficiency. 4. Ask students to look the at the Amazon. com web site (http://www. amazon. om) and discuss how Amazon satisfies a need. Have them compare this to competitors that have surfaced, such as Barnes & Noble (http://www. barnesandnoble. com). 5. To make sure students appreciate why organizations exist, have them give examples in class of when organizations have not served them well. Common examples include long lines at the grocery store, poor service at a restaurant, etc. Try to help them re-frame their examples in the context of the course material, such as specialization or the conversion process. This is a good method for getting the students to understand the overall value of the material throughout the semester. PHAM HOANG HIEN