Categories Of Carbon Steel Their Compositions Engineering Essay

‘STEEL ‘ is used for assorted metals of Fe. These vary from each other depending on the content and % of stuff added to the Fe base solution. On must maintain an of import factor in head, all steels contain a % degree of C + Manganese + Silicone + Sulpher. By increasing C to establish solution the stuff will increase strength and hardness therefore improves drastically the harden-ability. On the other manus C reduces the capableness of weld-ability and increases crispness. Several types of steels exist in our markets, the most common being ; field C, chromium steel, alloyed and tool steel. Carbon steel is one of the largely used steels in several industries. As explained antecedently, its belongingss are dependent largely on the % of C added but the other elements have minor influence excessively. One of import factor sing Plain Carbon Steel, is that this is a type of steel incorporating up to 1.5 % of C. One must foreground that most of the C add-ons in C steel are less than that of 1 % . Some applications of these steels are structural beams, auto frames, etc. ( Capudean, 2003 ) ( Iron Making & A ; Steel MAking, 2008 ) ( Jr. , 2007 ) Harmonizing to the ‘Steel Classification Society ‘ , Carbon steels are sub divided into four chief classs ; – Low Carbon Steels /Mild Steels ; these steels have less than 0.25 % of C, and these are the largely used class of C steels. Normally this type being unresponsive to heat interventions, intended to organize a martensitic construction, beef uping is achieved by cold working the portion due to low C content. These are really easy to organize steels with accomplishing popularity largely for not high strength applications. Some belongingss are ; Very tough, inexpensive sing costs ( least expensive to bring forth ) , they are easy machined ( more ductile than high C steels ) and welding belongingss are besides really good. Typically these have 275MPa – output strength, 450 – 550 MPa – tensile strength, and 25 % EL – Ductility. For such a ground, these are normally used in applications as Bridgess due its ability to deform under burden and return to its original. ( B ) ( Capudean, 2003 ) ( Groover, 2010 ) Degree centigrades: UsersNathanielDesktopRoadRailBridges.gif Medium Carbon Steels ; incorporate 0.25 % up to 0.55 % C. When it comes to belongingss, increasing C besides means a direct influential addition in hardness + tensile strength. On the other manus this besides effects severely the ductileness which makes it more hard to machine. Heat intervention to really thin subdivisions can better such machinability issues. These may be austinized by slaking and annealing afterwards to better such belongingss. These are comparatively stronger than the old class, whilst weaker than the high C steels. One common application of medium C steel is the production of crankshafts where high strength and stiffness is required to defy high tonss and opposition to tire when it comes to uninterrupted tortuosity and bending. Typical values are, 450-580MPa – output strength, 600-750 MPa – tensile strength, and 20-30 % EL – Ductility. ( Corus, 2010 ) ( Jr. , 2007 ) ( Iron Making & A ; Steel MAking, 2008 ) Degree centigrades: UsersNathanielDesktop1108phr-03+383ci-small-block-chevys+pistons-and-crankshaft.jpg High Carbon Steels ; incorporate 0.6 % up to 1.4 % of C. In a heat treated status it is able to defy high shear and wear hence, these are used in applications where stiffness and hardness play an of import portion such as in rope wire, besides good in prolonging crisp film editing borders. Unfortunately, these are the least malleable and really difficult to weld, in fact preheating and station warming ( commanding of chilling temperature ) is critical in order to obtain good welding sections and accomplish good mechanical belongingss. Since at their maximal hardenable conditions, these are the most brickle devising this a large drawback for this steel. ( B ) ( Jr. , 2007 ) ( Groover, 2010 ) Degree centigrades: UsersNathanielDesktopwire-rope2.jpg Very High Carbon Steel / Tool Steels ; are a ‘sub group ‘ of high C steels and contain lower limit of 0.8 % C. These have weak welding belongingss and ductileness, but are really good when it comes to strength, hardness and wear opposition that ‘s why it is really normally used in centre clouts. An of import factor for these sorts of steels is that most of them are used in a hard-boiled + tempered status. ( Jr. , 2007 ) ( Groover, 2010 ) Degree centigrades: UsersNathanielDesktop oolsteel.jpgP7: Question 2Select an industry and supply a brief over position of one metal forming technique used.The preciseness metal organizing procedure I will be discoursing is the Powder Formation ( PM ) . This gives an alternate cost effectual range towards stomping, hammering, machined parts and projecting. This is characterized one of the most enforced preciseness metal organizing technique in the modern industry and it is normally found in the automotive industry. Most vehicle parts presents are produced by such a procedure. PM combines pulverization compression with optimum physical belongingss with controlled high temperatures atmosphere sintering. ( Turkish PM ) Degree centigrades: UsersNathanielDesktopimage001.gif Such a procedure offers ideal benefits that you can non accomplish with using other metal working procedures. Mentioning merely a few, it is really material efficient since the finished portion uses 100 % of the stuff, whilst in other organizing techniques one will hold wastes. The procedure is really good in making intricate forms with minimum cost add-on. Some illustrations could be splines, cogwheels, away centric parts, etc ) . Sometimes this besides reduces assemblies since most of the assembly parts can be produced in a individual formation by PM. The PM clouts and rods produce parts with closer tolerances. A assortment of standard metals are specifically suited for PM processing, nevertheless intermixing can be easy done to run into specific belongings demand. Automatic rhythms make the PM procedure really labour efficient. The lone back draw is to put up the parametric quantities for the tooling, but as this is done, the procedure can bring forth parts at a really efficient r ate. High temperature Powder Metal ( HTPM ) , is able to accomplish 88-96 % of the material theoretical denseness. Since every stuff belongingss depends on denseness ( elongation, output strength, etc ) , HTMP outperform other procedures. ( GT.b, 2012 ) ( J, 2011 ) ( Marciniak, 1988 ) The high temperature metal pulverization procedure is divided into 4 chief sectors ; Blending – here high pureness metals pulverizations and additives are studied so funneled down to choose the optimal pick for the application in order to run into the coveted belongingss to the application. For illustration in the automotive industry, this procedure is used to organize panels. Here aluminum pulverization with anti oxidation additives and silicone for elastic belongingss are added in order to organize the ideal mixture for the door panel. All the pulverizations are assorted with particular lubricators which helps treating the pulverization flow. As mentioned before, blending the pulverizations in a solid province provides new chances to come up with new belongingss unique merely to HTPM. Compacting – Powdered metal is fed from a hopper into a provender shoe. The provender shoe delivers it into a die pit. Here multiple pulsations compress it into 50 % of its original capacity. Second strength packing forces realign and deform the atoms whilst implementing local mechanical bondings organizing a portion known as ‘a green portion ‘ . These are ejected carefully by automated machines and conveyed to the following measure. Compacting imperativenesss vary from 5 up to 900 tones and are capable of multiple gestures. Sintering – this involves puting the green portion in temperatures above 1300AÂ °C ( but below runing points ) . By such a procedure a batch of benefits are achieved, metallurgic bonding is enhanced, ductileness and stamina are besides improved. The initial art of the procedure cleans lubricators and surface of the metallic atoms to guarantee perfect mechanical belongingss sing the finished constituent. At the 2nd portion of this procedure ( go forthing portion in high temperatures ) , this allows energy to transform mechanical bonds to metallurgical bonds. Completing – sizing / coining are post operations that can be used for more complicated and minor tolerance dimensions, ( illustration – engine parts like cylinder valves, linking rods, etc ) . Extra coating assets could be milling, crunching etc. From here it can come on to a connection procedure. After joined this can besides be heat treated and plated. Heat intervention goes up to 550AÂ °C to do a bed of Fe3O4A which acts as corrosion resistant, and increase in hardness. ( N.A. ) ( GT.b, 2012 ) ( J, 2011 ) ( Marciniak, 1988 ) Note- A presentation will be held in category explicating the procedure in more item. Degree centigrades: UsersNathanielDesktopcycle.jpgP8: Question 3Distinguish between merger & A ; non merger, besides select one procedure and discuss. Finally supply one application and besides discuss.Welding is a procedure to bring forth high strength lasting articulations between two ( or more ) parts that need to be connected with each other by agencies of a weldment ( metallurgic fall ining subdivision ) . There are assorted ways to obtain such a connexion and with today ‘s engineering we are accomplishing better belongings results when it comes to post welding belongingss. Chiefly the procedure involves heating a portion, runing the portion / base metal ( depending on which procedure is adopted ) and connection of the stuff occurs as temp start to chill down. Thus the procedure required relies chiefly on the application of heat and force per unit area. One common welding factor is that the metallurgic construction of any metal will be changed station to welding. This coul d take to a station welding heat intervention procedure. ( T, 2010 ) ( Key to metals, 2007 ) Welding is divided into two chief groups, depending on the physical province of the base metal during the procedure that of the base metal being in liquid province or in solid province. These procedures are better known as merger and non merger welding techniques. In order to choose which welding procedure demands to be selected one should first analyze both the welding procedures and addition information sing pre dyer's rockets and station dyer's rockets. ( YAÂ ±lmaz, 2007 ) Fusion / Liquid State Welding ; this is the most common type of welding found in the industry due that the dyer's rocket produced is really strong. In this sort of fall ining procedure, the base metal is melted in order for the dyer's rocket to happen. Apart from the heat beginning a filler stuff ( consumable electrode ) may be fed besides into the welding pool. This procedure may besides utilize a protective bed between our environing atmosphere and the liquefied metal ( gas shield or flux ) . This protection consequences in a scoria on top of the welded seam which subsequently on solidifies and can be removed. There is a assortment of merger welding processes that can be used holding a different belongings result. ( Marinov ) Three major classs of merger welding are found which are bomber divided into different procedures ; Arc Welding: in this sort of procedure warming and thaw of the stuff is done by an electric discharge. Some illustrations of discharge welding could be ; Shield metal discharge welding, , Gas tungsten arc welding, Plasma discharge welding, Gas metal discharge welding, Flux cored arc welding, Submerged discharge welding, Electroslag welding. Gas Welding ; for this sort of welding the gas produces a fire that melts the basal stuff. An illustration of such procedure is ; Oxyacetylene welding High energy beam welding ; here a high energy beam is shot between the two parts held together under force per unit area. As the temperature starts diminishing after the beam Michigan, the parts start to bond together. Some illustrations of this procedure are ; Electro beam welding & A ; Laser beam welding. Basically all the procedures reference antecedently for merger has the same principals. A heat / energy beginning is concentrated on a really little country and a weld pool is produced. These heat beginnings for merger are arc, high energy beams and gas. Obviously the power denseness rises from gas fire to an electric discharge to a high energy beam. For the classs mentioned below we can analyze a graph demoing the heat input to the work piece vs power denseness of heat beginning. It is reasonably obvious that as the power of the heat beginning additions, the heat input to the welded portion decreases. Therefore the less the power denseness of the beginning the larger the affected country. Excessive clip for heating can do harm to the work piece, by changing the belongingss including deformation and weakening. ( Schwartz, 1979 ) Degree centigrades: UsersNathanielDesktopUntitledff.png Therefore one of the advantages on power denseness increaser is deeper incursions, optimum welding qualities, and less exposure clip for the welded portion. This procedure is besides various, and adaptable for confined infinites. On the other manus some disadvantages are, it is non every bit productive as uninterrupted wire applications, current bounds are critical to find the joint potency. ( Liverpool, 2000 ) Non Fusion / Solid State Welds ; for this type of welding heat is applied merely for the base metal to soften in its solid province in order to ease fictile distortion or rush up the solid province diffusion. As the name provinces, in non merger welding the stuffs are joined together without the demand of runing the base metal. Here the stuffs to be joined are brought together at equilibrium spacing for fictile distortion through high temperatures ( below runing point ) and force per unit areas. Some of the chief non merger welding techniques are ; Cold welding: In this procedure the dyer's rocket is achieved by the force per unit area and little lift in temperature due to cold working. Some typical illustrations are ; Press welding & A ; Roll Welding. Clash welding: For this procedure the dyer's rocket is achieved due to the heat produced due to using force per unit area between the parts i.e making clash. Some illustrations are ; Radial Friction welding & A ; Orbital Friction Welding. Diffusion Welding: here both parts are held together under changeless force per unit area, promoting the temperature somewhat and left invariable for a peculiar clip frame ( depending on the stuff ) . Some illustrations are ; Conventional Diffusion welding & A ; Deformation Diffusion welding Solid State Deposition Welding: Chemical reaction bounding. Degree centigrades: UsersNathanielDesktopspwmtfeb2001f1.jpg The first advantage of such a procedure is that low heat is required, hence minimum disruptors in crystalline construction are noticed since no thaw temperatures are required. This could besides be applied for stuffs within the same category or even within different categories due that no intermixing is involved. The chief disadvantage is that for such a procedure big, fixed machineries are required and this is a consequence for big capital financess to purchase the equipment required. Another disadvantage is that this procedure is non really feasible to be applied for little graduated table applications since its complicity. ( Jr, 2004 ) ( Lancaster, 1999 ) Describing one peculiar welding method, the method I will be discoursing is the ‘Hyperbaric Welding Process ‘ normally known as under H2O welding. This procedure falls under the class of Fusion welding. This is a really good illustration of welding in an unusual, critical environment. For such a procedure the welder must be an A class welder plus a commercial frogman in order to defy the harsh and unsafe sea conditions nature has to offer. ( Mukund, 1974 ) Degree centigrades: UsersNathanielDesktop2071602_f520.jpg In order to delegate instantly the procedure with an application mentioning advantages, disadvantages, equipment, restrictions and safeguards, the underwater welding is a procedure used in the offshore industry. The offshore industry covers the fixs of vass ( any kind ) , boring platforms ( jack up rigs, semi submergible rigs, self propelled rigs ) , Bridgess, etc. These constructions face terrible conditions conditions and are invariably flexing in multi conditional environments, hence the hazard of harm and failure is far greater. Basically this sort of welding is ideal and it is really flexible since the work could be done under the water line, therefore the natation works could be repaired in place without the demand of docking the platform to obtain dry conditions. This consequences in less sweeps and loss of valuable boring clip. Restrictions of such a procedure for our boring platform application are that the system is necessarily bulky and expensive to run. For such an application normally low to intercede C steels are used. Steels are designed as CT and a figure after to demo the C content. The most common steel found in this industry is CT3. Low and intermediate C steels are ideal since these have high malleability and sensible dyer's rocket ability. A The weld ability of depends on their C + manganese content in concurrence with their dross degrees. At low C degrees that of less than 0.15 % , the steels are non difficult and the dyer's rocket ability is excellent.A For the medium C type, 0.30 – 0.60 % C is found and these can be welded easy by agencies of discharge welding. Unlike the surface normal discharge welding, where such intermediate C have higher hardness and martinsite formation, in dry conditions pre warming and station warming are required. For deep sea dyer's rockets alternatively of pre warming and station warming, the dyer's rocket is non performed at one spell but with intermediate intermissions. ( Martikainen ) ( Sacrificial Metal, 2012 ) Degree centigrades: UsersNathanielDesktopcorrosion_drill ( 1 ) .jpg Basically there are two categorizations to execute submerged welding. The choice of the proper method is selected after an submerged structural / hull study and the parametric quantities of the submerged environment. The welding categorizations are ‘Dry Welding ‘ & As ; ‘Wet welding ‘ . Wet Welding ; here the welding is performed to the direct exposure of the wet conditions. Here the ‘Manual Metal Arc ‘ procedure is used. The principals of such a procedure are fundamentally the same as that of Arc Welding on dry land but in this instance a particular H2O cogent evidence electrode is required in order to protect the electrode ‘s nucleus. This is the most efficient and cost effectual welding method found amongst all under H2O welding. For this method the power supply is located on the surface of the H2O ( dry conditions ) and the overseas telegrams and hosieries are fed to the frogman via overseas telegram defenders ( big flexible piping ) . The power supply provenders direct current ( DC ) 300 – 400 As through overseas telegrams with negative mutual opposition. If positive mutual opposition is used in DC electrolysis will occour and causes rapid impairment of the metallic constituents in the electrode manus held holder. DC currents are used alternatively of AC ( Alternating ) due to electrical safety and the trouble of keeping the discharge in wet conditions. Motor generator welding machines are normally used. For the moisture type welding it is of import that the circuit includes a knife switch ( Positive type ) . This sort of switch is operated on the surface but eventually commanded by the frogman for optimal safety. This switch should be capable of interrupting the full welding current and stops the dyer's rocket ax the switch is non-operated. As mentioned antecedently, even the electrode itself should hold a particular coating of waterproofing. Basically all connexions should be insulated in order that no H2 O comes in contact with any metal parts. If this insularity is damaged, current will leak and will non be available in the discharge. ( Levi, 2010 ) This method is low cost compared to dry welding, it is besides an onsite occupation i.e. no demand of complex equipment an the frogman can make places of the offshore construction that could non be reached by other types of welding. Some disadvantages are that there is an immediate quench of the welded articulation due to environing Waterss ( additions tensile strength – decreases ductileness & A ; increasure in porousness and hardness ) .large sums of H is present taking to disruptions. H2 dissolves in heat affectional zone and the welded articulation could check. The chief disadvantage is the safety issue sing visibleness and currents Degree centigrades: UsersNathanielDesktopWelding.Programs.jpg Hyperbaric Dry Welding ; here the dyer's rocket is done in a certain chamber. This chamber is normally filled up with He incorporating 0.5 saloon of O at positive force per unit area somewhat above ambient. These dyer's rockets are somewhat higher in quality that of moisture welding and run into X-ray cryptography demands. For such a procedure the ‘Manual Metal Arc ‘ is used or the ‘Gas Tungsten Arc ‘ welding is used ( depending on the welder accomplishments ) . The welding is done in dry conditions but at hydrostatic force per unit areas of the deepness of the environing sea. For the dry dyer's rocket procedure the welding power generator could be AC and DC. Degree centigrades: UsersNathanielDesktopCommercialDryBell.jpg Some advantages of dry welding are that the frogman is safer since the dyer's rocket is performed in an enclosed chamber, hence no direct distractions from currents, and visibleness is much better than moisture welding since the chamber is illuminated. Good quality dyer's rockets are achieved comparable to come up welding and H2 degrees are much lower than H2O dyer's rockets, not distructave proving could be performed in the chamber. Some disadvantages are that the procedure requires much more capital and support at the surface as the method is much more complex, the cost additions with deepness, and the procedure is non every bit flexible as the unfastened H2O dyer's rocket as the connection subdivisions should suit the enclosed chamber. ( Akers, 2012 ) To depict the procedure of Manual Arc Welding, the work that is traveling to be welded should be straight connected to the positive side of the electric circuit via overseas telegrams. Sometimes the Earth overseas telegram incorporates more than 1 connexion in order to obtain the best circuit continuity for the land. A flux ( plus H2O proofing ) electrode is connected to the manus held holder via another overseas telegram which are connected to a power welding coevals beginning. When the tip of the electrode touches the work piece, the current discharge from the spread and causes a flicker which melts the base metal and the electrode organizing a dyer's rocket puddle. Degree centigrades: UsersNathanielDesktopwelding-circuit.gif Comparing both diagrams we can detect some differences. For the moisture procedure, DC current, a knife switch and dual insularity overseas telegrams are required. The mutual opposition is -ve, whilst the circuit is fundamentally the same. As the discharge is moved off from the work piece, the pool solidifies and the articulations are fused together. This welding pool is controlled by changing the current which flows through the discharge being produced and by altering the electrode diameters. Typical temperatures are those of 5000Â °C. by such a procedure a consequence of metallurgical bonding is achieved through the work piece. At these elevated temperatures, metals are ‘active ‘ and if it comes in contact with air it rusts immediately and the mechanical belongingss of the joint fail. For such a ground the discharge welding provides agencies of screening to the dyer's rocket pool ( gas, scoria ) . This is known as metallic discharge shield and is accomplished by the flux covering the electrode nucleus. The scoria produced as the pool cools and solidifies has its map to minimise contact of dyer's rocket to air until temp lessenings. The discharge creates a little pit formed inside the flux. This is for the flux to fire slower than the metal barrel i.e. helping in the protection and control of the metal sedimentation that leave the electrode. For the welding procedure this is a critical in order to keep a changeless discharge and weld articulation. Even in hapless under H2O visibleness, the frogman needs to maintain force per unit area on the electrode to keep a changeless good provender rate. In under H2O welding in is really of import to advert that the discharge behaves otherwise than it does in air. In H2O gas bubbles are a really of import factor as these create an unstable discharge for good welding conditions. In concurrence with this, it is much more hard to command the dyer's rocket puddle. The frogman must put currents by test and mistake depending on the Waterss conditions ( temp, salt, etc ) . Apart from this there is no difference between surface and under H2O welding. ( Kaets, 2000 ) Degree centigrades: UsersNathanielDesktopshielding-weld-arc.gif When compared to other welding procedures Manual discharge welding is normally used because the equipment is comparatively easy to utilize and inexpensive ( compared to other types ) , it is flexible, portable, and ideal for the frogman to utilize in confined infinites, no gas shield is required and eventually it is suited for about all sort of metals and metals. Some disadvantages of discharge welding are that the electrode needs to be replaced often ( more exposed to daze ) , the scoria should be removed after the dyer's rocket is performed, and the procedure is somewhat slower since the rate of deposition is slower than continuously fed electrode procedure ( Gas Tungsten Arc ) . ( Kaets, 2000 ) One last note sing under H2O welding ; there is a procedure non normally used which features a specially built keeping torch which sprays a changeless cone made of high force per unit area H2O, with protective gas under force per unit area to insulate the welded are from the H2O during the dyer's rocket is performed. Besides a recent development was done affecting under H2O optical maser beam welding. This method is still being improved but will shortly be applicable for the offshore industry. ( Clutter, 2012 )

Bad effect of modern technology Essay

Introduction: Metamorphosis is the only thing that is constant in this world. Everything is subjected to change, whether it’s small or huge. And these changes have its complementary effects, either good or bad. Technology is a concrete example of those things that are undergoing a huge change. It came from the Greek words: (1.) Techne, which means â€Å"Art, skill, cunning of hand†; and (2.) a prefix â€Å"-logia.† This only means that technology is a scientific progression and modification of tools, machines, techniques, systems, and methods of organization which helps in solving pre-existing problems of humans. Background of the Study In the era where in modern technologies still don’t exist, students rely mostly in educational materials such library, observations, notes, books just to review and study their lessons. They put a lot of extra efforts in order to gain information. Students are more focused and motivated in studying in order to attain good grades and better education. According to Daniels, 2002; Ganske et al., 2003; Harvey, 2002, technology motivates students to in having a choice in their assignments, see the relevancy, or can assess the teacher’s feedback intertwined, student motivation increases. Along with the rapid growth and change of modern technology, students become more dependent to electronic gadgets around them. Because the students believe in the power of gadgets, they all rely their works in them. As a result, they forget to be responsible in their own way and let themselves be controlled with by all the comforts that the gadgets give them. Unlike before, they allot less ti me in studying and putting more time in using the gadgets because they have this idea that doing researches and assignments can be easily done because of it. Modern technology causes great distraction in the study habits of students. Statement of the Problem 1.) What products of technology are affecting the students’ study habits the most? 2.) How often do students use the electronic gadgets? 3.) What are the advantages and disadvantages of modern technology to the studying habits of the students? 4.) How often do the aforementioned advantages and disadvantages occur to them while using these gadgets? 5.) In general, what is the effect of the advancement of technology to the studying habits of the students? Is it essential? Or detrimental? Hypotheses The following hypotheses will be tested for acceptance and approval: H0 : There is no significant effect of modern technology to the studying habits of the students of the selected students of Far Eastern University. H1 : There are significant effects brought by modern technology to the studying habits of the selected students of Far Eastern University. Scope and Limitation This research study gives emphasis to the possible effects modern technology to the studying habits, as well as the performance, of the selected students of FEU. The researchers conducted a survey through a questionnaire to the 100 students, randomly selected, who often use e-gadgets llike iPad, laptop, cellphone, etc. This is to verify their standpoint regarding the effects caused by technology to their performance in school and to obtain data that can be used in this study. This study will no longer altercate the new innovation. Although this can be a source of information which can be adapted to profound and maximize the use of e-gadgets. This study is focused on how modern technology affects students’ compliance to the requirements of their course description and relevant actions to determine how to efficiently use the e-gadgets. The effects that the researchers presented are either dreadful or valuable. Significance of the Study The Students a complete, balance, and proper usage of the gadgets they have. Through these, students can allocate their time more appropriately and they can prioritize the degree of importance of their tasks. The Teachers a  background on why the certain students are not able to accomplish their work. The Parents ideas on how are they going to minimize the bad effects brought about by these gadgets and through this, they can guide their sons and daughters on the limitations they should build to avoid addiction to these gadgets. Furthermore, this study will serve as a theoretical model for future studies of the same nature if ever the existing problem has penetrated in this case will exist in the future. Future researchers will benefit from this study, and it will provide them the facts needed to compare their study during their respective time and usability. Definition of Terms Technology is the making, modification, usage, and knowledge of tools, machines, techniques, crafts, systems, and methods of organization, in order to solve a problem, improve a pre-existing solution to a problem, achieve a goal, handle an applied input/output relation or perform a specific function. It can also refer to the collection of such tools, including machinery, modifications, arrangements and procedures Study Habits is a schedule in which you consistently use and perform for learning process. Gadgets are small specialized mechanical or electronic devices; a contrivance. Electronic Gadgets are the instruments which can perform many activities at a time with vast speedï  ¶ & makes the hard work efficient one Laptop is a portable personal computer with the same features with a desktop computer. It is lighter, smaller and cheaper compared to computers. iPad is a line of tablet computers designed and created by Apple Inc. it can shoot videos, take photos, play music, can install games, ebooks, etc. and it can perform internet functions like surfing the web and emailing. It is very handy, touch screen and has a light weight. iPod Touch is commonly known as iTouch stylized and created by Apple Inc. It is a handheld device that allows you to play music, take photos, shoot video, download apps, connects you to your email and is capable of wireless connection to the internet which enables the users to directly buy or download software. Smartphone is a mobile phone designed built on an operating system. It has a more advanced capability and connectivity. It is handy and convenient to use. Its functions are portable media player, high end cameras, GPS, high resolution touchscreens, and web browsers. Ex: Android, Apple, Blackberry,  Lenovo, Nokia etc. Ebook is a book-length publication in digital form, consisting of text, images, or both, readable on computers or other electr Sonic devices. Social Networking site is a platform to build social networks or social relations among people who, for example, share interests, activities, backgrounds, or real-life connections. A social network service consists of a representation of each user (often a profile), his/her social links, and a variety of additional services. Far Eastern University in the University Belt area, West Sampaloc, City of Manila, is a nonsectarian, private university in the Philippines. Created by the merger of Far Eastern College and the Institute of Accounts, Business and Finance, FEU became a university in 1934 under the guidance of first president Nicanor Reyes, Sr. It has been noted as the leading proprietary (for profit) university in the Philippines. Wi-fi is a popular technology that allows an electronic device to exchange data or connect to the internet wirelessly using radio waves GPS is a space-based satellite navigation system that provides location and time information in all weather conditions, anywhere on or near the Earth where there is an unobstructed line of sight to four or more GPS satellites. Computer an electronic device for storing and processing data, typically in binary form, according to instructions given to it in a variable program. Apps are software applications designed to run on smartphones, tablet computers and other mobile devices.

Alternative Styles Of Creative Advertising Marketing Essay

Alternative Styles Of Creative Advertising Marketing Essay The purpose of this report was to create a creative campaign idea for GWS Motorsport to attract more audiences as well as to increase awareness of the company. Hence, an evaluation of creative strategies theory will apply to the campaign in order to support the raw ideas. The report will show all the achievable innovative approaches that may increase the effectiveness and efficiencies of the campaign. On top of that, one of the strategy approaches has been selected for the GWS Motorsport campaign as part of the creative strategy. This report also aims to give an understanding of the campaign objectives, appropriate strategy for the outcome, the messages that what is this campaign about to pass on and to create the characteristic for GWS Motorsport race team. Hence, a clutter of consumers requires a creative approach to segment them by using marketing mix strategy. As a result, positioning exist in the market to avoid tight competition in the same industry. (Chitty, 2005) 1.2. Scope While understanding GWS Personnel Motorsport, the team does not bring in any profit however they do exercised some business strategies to at least cover its costs because running a race team cost a lot of money. Therefore, the main revenue streams included sponsorship, driver leasing and for those potential revenue streams were from the hot laps, driver sessions/training, VIP tickets and guest appearances. (O’Donnel, n.d) 1.3. Method The information used in this report was gathered by using the sources from GWS Personnel Motorsport official website, GWS presentation power point slides, a series of email with the marketing consultant, Nik O’Donnell and the textbook. Therefore, the second edition of Integrated Marketing Communications textbook was one of the main references that provided the information of creative strategies theory that were applied to this report. 1.4. Company’s Background GWS Personnel Motorsport is a team that puts together by Allan Shephard a nd Peter O’Donnell and mainly sponsored by GWS Personnel itself. Additionally, GWS Personnel is a regional based recruitment company that was established in the early 90’s. There are other sponsors too such as the Shire Conveyancer, Spinifex Australia, and Evocities. Peter O’Donnell has always been passionate about motorsport racing which is the reason behind the team he formed. The GWS Personnel Motorsport as known as the Australian Manufacturers Champions formed a wide range of production cars such as the Europe and Japanese cars were used on the race track. (GWS Motorsport, 2011) 2. Findings 2.1. Creative Strategies Theory In this day and age, many business companies have implemented more creative strategies that use to draw consumer attention and provoke them to purchase a product or a service. As a general rule, these creative strategies are based on the targeted market demographic, psychographic, geographical and behavioral. Advertisers often use catchy ji ngles to capture consumer interest therefore such creative strategy may promote publicity and public relations with them. Based on Table A, the creative strategies are divided into three categories and they are the functional orientation, symbolic/experiential orientation, and category-dominance orientation.

Case Study Example | Topics and Well Written Essays - 750 words - 26

Case Study Example It comprises a list of codes set, with each code associated with a particular term, result or product. Understanding this standard with its associated codes is vital in appreciating their use in conveying of information electronically. This refers to a way of packaging data in such a way that the receiving computer understands precisely the nature of data that is coming in especially where data elements are received in an electronic file. It is normally used in a wide range of demographic data that may need to be exchanged or transferred across health care institutions. The use of this standard makes the transfer of information easy, fast and secure. It ensures that healthcare information, which is being transferred from one person to another, is utilized by the targeted person. This is supported by the 4A principle namely Authorization, Authentication, Access Control and Audits. This is functionality, process and workflow standard that define how results and orders are processed. It is vital for me to comprehend these standards so that I may be able to appreciate the need to adhere to these guidelines. The goal of the database is to track and monitor whether the institutions patients are getting the service they deserve in the most efficient way. As such, reports from properly designed and installed database should illuminate the guidelines and physician practices that result to a better outcome (Zeng, Reynolds & Sharp, 2009). In addition, they should identify physicians who require additional guidance and training in how to take care of their patients. As such, HIM professionals in the organizations should be trained thoroughly in areas such as; Skills on end user analysis, that is, they should be able to ascertain how the database meets the needs of the end users. For instance, administrators may need to track the performance of the doctors while the doctors may want to track some vital signs from their patients. HIM professionals

Meno and Phaedo Essay Example | Topics and Well Written Essays - 1000 words

Meno and Phaedo - Essay Example The following will present three succinct (and related) arguments which defend the position concerning the immortality of the soul. The arguments in question, are as follows (1) ‘argument from opposites’ [69e-72e], (2) argument from recollection [73-78b], and finally, (3) ‘the argument from affinity’ [84c-88b]. The focus of this analysis will be on the above three sections, however, both a consideration of some of the objections will follow, and finally, the final or summary refutation provided by Plato’s mouthpiece (Socrates). The first position in question, is the argument from opposites. This is an argument which is based on an inference which is an extension of observation. What we perceive around us, is a process in nature where opposites turn into each other. In this section in question, Plato observes the following opposites which typify this process of â€Å"becoming† [72B], namely, the opposites of ‘small/larger’ [70E]â₠¬Ëœfaster/slower’, ‘waking/sleeping’[71D], and ‘hot/cold’[71B]. As mentioned, these are processes whereby opposites turn into one another. There are, however, some problems with this argument. First, the very notion of ‘opposite’ is problematic. ... in Celsius) between ‘hot’ and ‘cold’, but they are not opposites in the contradictory sense of ‘life’ and ‘death’. In other words, ‘life’ and ‘death’ are binary opposites in the sense that a person is either ‘alive’, or they are ‘dead’. A difference in the sense presented by Plato with respect to ‘hot’ and ‘cold’ or conversely, ‘fast’ and ‘slow’ are not binary opposites – the admit of a middle ground, and moreover, they are united or related in some sense. They are related in the sense of being relative to another. While a tortoise is relatively slow when compared with a hare, a hare is slow when compared to the speed of light. Thus, is the ‘hare’ fast or slow? In normal logic, one cannot predicate real opposites of the same thing, this is the law of non-contradiction [Wagner 28] and this is actually that which brings into question some of what Plato is claiming concerning these opposites. This said, Plato is claiming that â€Å"all things come to be in this way, opposites from opposites† [71A]. Further, he infers that among â€Å"all† of these â€Å"things†, must also be the soul and the body. Thus, if everything turns into its opposite, then, the soul must turn into the body, and the body must turn into the soul. Phrased in terms of a syllogism, (1.) if it can be said â€Å"that to be dead is the opposite of being alive† [71D], and (2) â€Å"all things come to be in this way, opposites from opposites† [71A], then, (3) it can be inferred that the body and soul turn into each other. As has been noted, the form of this argument is an inference, and there are some problems, and second, his very notion of opposites includes ‘contraries’ and not just ‘contradictories’ – that is,

International accounting Essay Example | Topics and Well Written Essays - 2250 words

International accounting - Essay Example First Republic serves clients through offices in eight geographic regions." (First 2005 inside cover). From this description the reader can see that the First Republic Bank wishes to set itself apart from its competition by offering services that high net worth individuals and entities might find desirable. The bank plans on offering these services with 'extraordinary and personalized service'. Will this sense of caring show through in their reporting process, or will the statement end up being just another bunch of words mouthed by little people in dark suits with hands in their customer's pockets attempting to take every last dime they can find Comparing the description found in First Republic's annual report to the one in Commonwealth Bank's is an interesting comparison, mainly because the comparison cannot be made. Instead of containing basic information about what the company does, who it caters to and what it is doing to capture more business from those customers, it jumps right into a Chairman's message that tells how much money was made by the bank, how well they did in 2005, and how much more money they plan on making in 2006 (and for years to come). There was not one word concerning the customer. The first thing a reader notices in comparing the 2005 Annual Reports from the Commonwealth Bank (Australia) and the First Republic Bank (United States) is that one is a stodgy, black and white, basic, conservative report, while the other is a vibrant, four- color, easily read and understood creation that enhances the reader's enjoyment of what is essentially a financial report concerning a year already in the past. That the four-color report comes from the company in the United States is not necessarily surprising, but what is surprising is that a progressive country such as Australia would not foster a comparable report by one of its similar banking institutions. Of course, it could be the fact espoused by UK firms a few years ago concerning financial reports in general and the reports constraint on their ability to act. "The case financial institutions argued that the limited quality of public information, especially in financial reports, was a major constraint on their ability to act." (Holland 1999 pg. 161).There are a variety of rules that constrain financial reporting in general, and some of those rules are aimed in particular at the financial services industry. Both the First Republic and the Commonwealth annual report adhered to the majority of those general rules. Some of the rules included in both reports as espoused by the Securities Handbook and are as follows: 1). Section 210.2-01 is designed to ensure that auditors are qualified and independent of their audit clients both in fact and in appearance. 2). In determining whether an accountant is independent, the Commission will consider all relevant circumstances, including all relationships between the accountant and the audit client, and not just those relating to reports filed with the Commission. 3). Any partner, principal, shareholder, or professional employee of the accounting firm, any of his or her immediate family members, any close family member of a covered person in the firm, or

Comparing Malcolm X and Martin Luther King Essay

Comparing Malcolm X and Martin Luther King - Essay Example Martin Luther King Jr. was follower of the Christian faith. Struggle of Martin Luther Jr. for the right of for his fellow African-American was always non-violent and peaceful throughout his entire movement. He always remained firm on his ground, even he have been physically attacked he never leapt out of his destiny, and never reacted with violence. Malcolm X was a believer of Muslim faith, and strongly believed on Muslim principles. His most renowned quote was â€Å"By any means necessary† (Otis 143-144). He believed in violence against violence. His theory was to get freedom; he was all for it by any way violent or nonviolent way. Although his stance changes later in his life, when he met other Muslims in his visited to Jerusalem. At that moment he changed his thoughts, and became nonviolent. In the start of his preaching, Malcolm X never wanted black and white integration. He grew up minding to the words of his father. Father of Malcolm X was a follower of Marcus Garvey (on e of the most influential and earliest black-nationalist minds was founder of the â€Å"Back to Africa† social movement). In 1946, he was convicted of robbery and sent to prison. During his prison he studied â€Å"Nation of Islam†, Muslim sect founded by Elijah Muhammed. After his release from prison, he joined daily activities of the NoI with dedication. The NoI appealed to warm and young blood of Malcolm, as it was griped with the prosperity of black culture and history, and completely rejecting values and norms of white society. In contrast to Malcolm X, Martin Luther King Jr. was non-violent and peace loving person. He was in favor of peace and integration between black and white races. Martin was influenced by the teachings of Mahatma Gandhi. He studied Gandhi's non-violent strategies and found how, to change hearts through love of one’s enemies and sacrifice. Leader and his followers can convert a society externally by diplomacy. His one of the famous civi l rights move was the â€Å"March on Washington†, which framed the different views of Martin Luther King Jr. and Malcolm X. This event took place on August 28, 1963. Around 20,000 or more people including whites participated in the march from Washington Monument to the Lincoln memorial in Washington D.C. This march turned out to be one of King’s greatest achievements throughout his life. This event was where he was crowned for the face of the civil rights movement. King never acted out even in the time of violence. Martin wanted all the races should get united to put halt on hatred and violence. Thoughts of Malcolm X were different regarding the march. According to him integration would destroy the movements of African-American for their social rights. He thought that American blacks should be more worried with helping each other and blacks should start this by giving self respect to the same race first. He was not agreed with what King Jr. had to say, in his view drea m of King was not a dream but a nightmare. MLK’s struggle to civil rights and equality was non-violent, preaching out for non-violence, nonviolent resistance, and all this with what he named as a, â€Å"weapons of love† (King, Carson and Carson  135-136). On the other hand, Malcolm X’s approaches for civil rights and equality were different. He does not trust whites, willingly used any means necessary to get social and equal rights. He believed segregation until he went to Makkah.

The Major Attributes of the Fisher & Paykel Brands Essay

The Major Attributes of the Fisher & Paykel Brands - Essay Example According to the paper Fisher & Paykel have been successful in building their brand through the Customer Based Brand Equity (CBBE) model of consistently delivering on high quality. Their cutting edge design won them a household name. This model identifies four steps which denotes questions asked by the customers as diagrammatically illustrated below. This paper highlights that the second stage is mainly concerned with establishing brand meaning. Customers may not be at liberty to buy something they do not understand hence the need to link brand with certain properties. The third question is about brand response where responses to identification and meaning are sought. The fourth question is about relationship where brand loyalty is created. The DCS developed its brand equity through building strong associations between a brand name and a category or set of benefits based on the CBBE model. On the other hand, ELBA developed through a consistent imagery through the use of the same model by Fisher and Paykel. This model is very important because it seeks to identify the stages involved in the creation of brand loyalty from grassroots level. The benefits and advantages of using social communications or public relations (PR) as part of Fisher & Paykel’s integrated marketing communications strategy for rejuvenating the brand inc lude the following.

Module 4 BHS427 Health Care Finance Cost of Capital (CASE) Essay

Module 4 BHS427 Health Care Finance Cost of Capital (CASE) - Essay Example Despite being highly criticized, CAPM is commonly used by investors and managers, possibly due to its sundry advantages over other models. By using systematic risk only, CAPM tends to be not only more realistic but also simpler by eliminating the unsystematic risk. Remarkably, the relationship between the market risk and expected rate of return is easily shown by the Security Market Line. Secondly, in addition to being empirically testable, CAPM compares the particular investments level of risk to the stock market risk unlike DGM. Moreover, CAPM overcomes WACC’s assumption that investment has no influence on financial risk hence making it better in project appraisal. Conversely, CAPM’s assumptions make it less viable in reality. In project appraisal, the use of a single-period time zone contradicts the nature major real investments, which cut across periods. Moreover, it’s unrealistic to assume a constant beta for the periods as market conditions keep on fluctuating. Again, CAPM faces a problem in assigning values to the variables in the model. None of the variables is constant, with some such as yield on government debt (used to estimate risk free rate of return) changing on daily basis. Dolde et al (2012) research was aimed at determining whether the two factors international CAPM (2F-ICAPM) gives a different cost of capital compared to the domestic CAPM mostly used by US companies. Pre-studies had shown that the single global CAPM generated costs of equity not significantly different from the domestic CAPM despite the former model’s theoretical superiority, hence explaining why managers had not shifted from the domestic CAPM. To formulate the2F-ICAPM, Dolde et al incorporated the world market Index and currency index for chief currencies all expressed in US dollars, making this model theoretically superior to both

Power Politics Essay Example for Free

Power Politics Essay â€Å"†¦what is happening to India today is not a problem†¦the issues †¦are not canses. They are huge political and social upheaval that are convulsing the nation. †   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Those are the exact words that Roy (24) had used to describe what is happening to the world that is beyond the realm of common human understanding: globalization led on and operated by â€Å"experts†.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   And just how will a common human understand when every time they try to, at the end of the day, they are relegated to being â€Å"just a citizen† who are, to experts, are â€Å"too emotional† and just lack the ability to eventually understand when explained to (if the experts even try to do the explaining part).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It is the phenomenon characterized by experts who have acquired technical knowledge on certain matters take the matter into their own hands—not wanting to be questioned or contradicted and seemingly not encouraged to do their tasks with sympathy. They believe that they have all it takes to do it all, and be all, for all. The usual behavior of an arrogant little child who thinks he knows all he needs to know and thus scoffs at any questioning remarks on how he does his tasks, sneers at any suggestion or idea unlike his own, or flares up at any tap on his shoulder that gently reminds him that he is not of possession of every knowledge yet; a kind of behavior that is often times not tolerated.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   And that is what needed to be done. This arrogance should be broken down. And this could not be accomplished by mere taps on the shoulder anymore. A sterner reminder is needed; a reminder that even the too emotional and comprehension-challenged common citizen still has a say on how he lives his life—or at the very least, has the natural right to be made to understand.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Therefore, the author urges the humanity to speak, and speak loud, now or forever be made to hold their peace. Works Cited Roy, Arundhati. Power Politics (year of publication). 24-33.

Influencing Factors of the Company Disclosure Level

Influencing Factors of the Company Disclosure Level Prior evidence and hypotheses Based on the theoretical framework primarily concerning information asymmetry, agency problem, signalling theory and political costs theory, many previous studies have attempted to formulate and test several hypotheses on the influencing factors of the company disclosure level.  This section will review the findings of several prior researches as well as establishing hypotheses for the current study.   (1). One of the most remarkable features of Chinese capital market is assumed to be its unique market structure, which comprises of three major segments: A shares which are only sold to domestic citizens in domestic currency; B shares which are only issued for foreign investors in foreign currency, but traded in domestic exchange markets; and H shares which are traded in SEHK in foreign currency.   Given their different characteristics, such as listing market, listing requirements, accounting standards and reporting environment, their disclosure behaviours and disclosure policies are expected to vary systematically.  Therefore, one of the basic intentions of the current study is to test whether companies, of which shares are belongs to the three different market segments, exhibit different disclosure patterns. At a glance, foreign listing status is a major feature that distinguishes H shares-issuers from the other companies issuing only A or A+B shares. For this feature alone, compliance with Chinese GAAP and IFRS is mandatory for these Chinese firms that issue both A and H-shares. Accordingly, the IFRS-based annual report must be audited by an internationally recognized auditor; while the Chinese GAAP-based annual report may be audited by local accounting firms, and any difference in net incomes between these two sets of accounting information must be reconciled and presented in the financial statement. In that case, companies with A and H shares are subject to additional listing requirements as well as disclosure rules, consequently greater information disclosure can be expected from these companies than the other firms listed only in the domestic market. Apart from regulatory requirement, H-share companies are also under greater market pressure to disclose more information. Assuming the primary objective for Chinese firms listing on international stock exchanges is to obtain capital at the lowest possible cost, they need to compete with the other SEHK-listed firms of which the westernized corporate governance systems are generally believed to be effective in terms of assuring a high quality financial report through proper internal control systems. Hard to deny that, comparing with other SEHK-listed firms, H-share PRC firms are commonly assumed to have significantly greater adverse selection and moral hazard problems due to their lack of prior trading history, the limited transparency of corporate governance and management control system, and foreign investors’ concern about the magnificent state ownership.   Given these disadvantages raised from information asymmetry and the potential economic consequence of increased discount rate, H-share firms should have greater incentives to commit to more intensive information disclosure in order to reduce their agency cost. Previous empirical study by Ferguson, et. al(2002) found that companies with both A and H-share issuing disclose substantially more financial information than purely domestically listed PRC firms as well as other SEHK listed companies. On the other hand, it is generally observed that companies only listed on the domestic exchanges (including companies with only A shares and companies with both A and B shares) tend to adopt a relatively more secret disclosure policy, which exhibit little voluntary disclosure if any information beyond the exchange requirements (Haw et al., 2000).  Ferguson, et. al (2002) offer several explanations: Firstly, the concept of public information disclosure is relatively new to both the investors and corporate managers in PRC where the basic systematic accounting standard was first promulgated since 1992. Given the less developed market-oriented accounting system and the weak disclosure culture, Tang (2000) points out that comparing to other exchange markets with mature accounting systems, accountability to outside investors is less concerned by most Chinese corporate managers; also, the majority individual investors are unfamiliar with the evaluation and use of financial statement disclosures.  Secondly, Ferguson, et. al (2002) argue that because the current capital market is experiencing the transformation from the formerly state-controlled economy to the new market model, there remains some old concerns of investors emphasizing on the state plan. That is, local investors still tend to focus on â€Å"inside† information such as anticipated actions by the controlling government entities rather than relying on public information like financial statement disclosure (DeFond et al., 1999).  Hence, corporations’ incentives and investors’ desire for information disclosure appear to be less strong for companies only listed on domestic market than firms listed on foreign exchanges; consequently, greater extent of information disclosure is expected for companies issuing both A and H shares than firms listed only on domestic market. The resulting hypothesises are as following: H1: Companies with both H shares and A shares tends to disclose more information than companies issuing only A shares; H2: Companies with both H shares and A shares tends to disclose more information than firms issuing both A and B shares. The most important difference between A share and B share is that A-shares can only be owned and traded by Chinese citizens in Chinese currency, while B-shares can only be owned and traded by foreign investors in either Hong Kong currency or US dollars. Accordingly,  the accounting regulations applicable to firms issuing only A shares is Chinese GAAP; while, for companies issuing both A and B shares are required to apply with Chinese GAAP as well as IFRS. The IFRS-based annual report must be audited by an internationally recognized auditor, while the Chinese GAAP-based annual report may be audited by local accounting firms, and the discrepancy between the two sets of audited financial reports needs to be reconciled with the IFRS and displayed in the annual report for domestic investors. Because of the different regulatory requirements, companies with both A-share and B-share issuing are expected to disclose more information than firms with only A shares. Since comparing with smaller CPA firms, which are assumed to be more sensitive to client demands due to the economic consequences associated with the loss of a client, larger and international well-known auditing firms have a greater incentive to maintain independence from clients pressure for limited disclosure because of the economic consequences associated with potential damages to their reputation (Chow and Wong-Boren, 1986). Therefore, larger CPA firms have a greater incentive to require adverse disclosures by the client, consequently increasing the level of information disclosure (Patteon and Zelenka, 1997). In contrast, accounting information audited by domestic auditing firms may be considered noisy because of sloppy information environment and inadequate regulation. (Fox, 1998; Rask, Chu, Gottschang, 1998). Prior to 1996 no auditing standards existed with the exception of a few guidelines from the sponsoring governmental agencies; and until 1998 all domestic auditors were public employees, who tend to act as government agents and bore little responsibility for any improper behaviour due to the lack of litigation against them. Thus, auditors usually were affiliated with their clients and lacked motivation to be independent from them, consequently information disclosure may be subject to management’s selective bias. Despite of the recent institutional changes such as the reformation of the accounting-information system and the introduction of new auditing standards, which aims to impose stricter disciplinary rules, more intensive monitoring and sanctions, the effective implement of regulatory is still doubt by the market (Haw, 2008). Therefore, companies with only A shares are likely to make less information disclosure than companies with both A shares and B shares of which annual reports are influenced by internationally recognised auditing firms. The resulting hypothesises is: H3: Companies with only A shares are likely to make less information disclosure than companies with both A shares and B shares. (Ferguson, Lam and Lee, 2002) 2.4 Disclosure by PRC-listed Firms PRC firms listed on the two domestic exchanges voluntarily disclose little, if any information beyond the exchange requirements (Haw et al., 2000). Explanations include (1) the lack of sophistication with respect to financial reporting on the part of both investors and corporate managers, and (2) investor reliance on â€Å"inside† rather than public information. Public financial statement disclosure is relatively new to the PRC. The first basic accounting standard was promulgated in 1992 and, of the 30 standards proposed in the intervening years, only eight have been adopted. Thus, accountability to outside investors is new to most corporate managers, and most individual investors are unfamiliar with the evaluation and use of financial statement disclosures (Tang, 2000). Institutional investment in the PRC is in a fledgling state. Local investors are also likely to place greater weight on factors such as anticipated actions by the controlling government entities than on financial statement disclosures (DeFond et al., 1999). Thus, demand for, as well as supply of additional disclosures may be limited in the PRC domestic exchanges. The disclosure practices of PRC firms listed on international exchanges, in which they face sophisticated financial statement users with diminished access to inside information, have not been examined. 2.5 Hypotheses: Disclosure by H-Share Firms on the SEHK Theory (Spence, 1973; Grossman, 1981) indicates that voluntary disclosure can be used to alleviate information asymmetry problems, including moral hazard and adverse selection. A rational strategy to avoid deep discounting of share prices is to disclose additional information to investors to signal firm value (Watts and Zimmerman, 1986). Compared to other SEHKlisted firms, H-Share firms are likely to present significantly greater adverse selection and moral hazard problems. In contrast to the westernized corporate governance systems in place in most SEHK-listed firms, many PRC SOEs still operate in a â€Å"vacuum† with respect to corporate governance and management control (World Bank, 1995). For example, audit committees and shareholder litigation are nonexistent and independent; outside directors are not required (DeFond et al., 1999). Thus, in addition to H-Share firms’ lack of prior history, important investor concerns include management quality, the potential for asset stripping or misappropriation, de-capitalization through excessive wage increases, and the role of the government as a major shareholder (Chen and Firth, 1999). Therefore, ceteris paribus, H-Share firms face significantly greater incentives to voluntarily disclose additional information. Proprietary costs, however, also affect disclosure (Verrecchia, 1983). The benefits of voluntary disclosure must be weighed against the costs of providing information that may invite or assist competition or regulation. Compared to other SEHK-listed firms, H-Share firms also face significantly lower proprietary costs. Most operate in industries deemed by the PRC government to be of strategic importance and are hence shielded from international competition (Lin et al., 1998). Thus, additional disclosure by H-Share firms is also likely to be less costly. This potential for greater incentives and lower disclosure cost leads to our first hypothesis: Hypothesis 1a: Voluntary disclosure by H-Share firms will be greater than that by other SEHK-listed firms. Further, as the primary objective for PRC firms listing on international stock exchanges is to raise capital at the lowest possible cost, we expect that H-Share firms’ incentives will mainly affect disclosure of additional strategic and financial information. Such incentives will have little impact on the disclosure of additional non-financial, social accountability information. Political costs are borne primarily in firms’ local operating environments and are driven by local norms. H-Share firms operate solely in the PRC and political costs within this environment are virtually non-existent. Thus, we expect that differences in disclosure will only be observed for financial and strategic rather than social accountability information: (Sami and Zhou, 2004) In the emerging A-share and B-share markets, however, the value relevance of accounting information has been questioned. Accounting information based on domestic standards may be considered noisy because of sloppy accounting, inadequate regulation, and crony capitalism (Fox, 1998; Rask, Chu, Gottschang, 1998). Besides, accompanying the rapid development of securities markets are some inevitable problems such as lagging legislation issues and multiple regulatory authorities (Liu Zhang, 1996). However, the institutional changes in emerging markets, including the reform of the accounting-information system, could increase market liquidity, reduce transaction cost, and improve pricing efficiency (Feldman Kumar, 1995). In this study, we directly investigate the relative value relevance of accounting information in the two segments to provide further evidence on the value-relevance issue in the emerging market. Our basic intention is to test whether the two market segments differently value the major accounting information disclosed by the same company. Under these regulations, listed companies prepare their financial statements based on the Chinese GAAP, as well as the IAS if they also issue B-shares. They should have their annual reports audited by authorized CPAs and submit copies to government agencies, such as state-owned-asset management agencies, tax authorities, securities regulatory agencies, and banks. They are also required to have copies available for investors. In addition, listed companies are required to publish their annual reports in at least one of the authorized securities’ publications before April 30th the following year.10 For companies with both A-shares and B-shares, the audited annual reports for B-share investors are published in Hong Kong on the same day as those for A-share investors in China. The reconciliation information on the two sets of accounting statements is released to only A share investors, but not to B-share investors. When there is a discrepancy between the two sets of audited financial reports, companies issuing both A shares and B-shares need to reconcile their accounting statements with the IAS for domestic investors. Because the IAS is considered to be of higher quality than local GAAP, and international auditors such as Big Five (Big Four) firms are thought to provide higher quality audits than their Chinese counterparts (Chui Kwok, 1998; DeFond et al., 2000; Lam Jing, 2000), the accounting information in the B-share market should be more relevant to the pricing process, compared with its counterpart in the A-share market. (Sami and Zhou, 2008) To shed light on the economic consequences of the implementation of new auditing standards, we investigate the Chinese emerging market where a set of auditing standards was introduced in a situation where, previously, no auditing standards existed with the exception of a few guidelines from the sponsoring governmental agencies. In addition, in the information environment of an emerging market such as China, where the accounting disclosure was criticized for its low quality and quantity, the economic consequences of increased accounting disclosures due to the implementation of a set of auditing standards should be significant. Moreover, auditors played the role of government agents and bore little responsibility for any improper behavior (Xiang, 1998). Because it was common practice to have a company audited by an auditing firm affiliated with the same level of government, auditors bent the rules under pressure from local government officials and company managers to pursue their own interests (Xiang, 1998; Graham, 1996). Additionally, there was no litigation against auditors (Graham, 1996; DeFond et al., 2000; Gul et al., 2003). Thus, auditors usually were affiliated with their clients and lacked motivation to be independent from them. Therefore, Zhou (2007) concludes that the implementation of new auditing standards helps reduce information asymmetry in an emerging market. (Peng, Tondkar, Smith and Harless, 2008) Chinese capital market development and market segmentation A-shares can only be owned and traded by Chinese citizens, while B-shares can only be owned and traded by foreign investors. The accounting regulations applicable to a Chinese listed firm depend on the type of security issued, A- or B-shares or both. Firms that issue A-shares are required to comply with Chinese GAAP, while firms that issue B-shares are required to comply with IFRS. Firms that issue both A- and B-shares are required to issue two sets of annual reports, one based on Chinese GAAP and the other based on IFRS. The IFRS-based annual report must be audited by an internationally recognized auditor, but not necessarily a Big 4 firm, while the Chinese GAAP-based annual report may be audited by local accounting firms. Reports must be released to the public simultaneously and any difference in net incomes between Chinese GAAP and IFRS must be reconciled and presented in the financial statement footnotes. Fig. 1 and Table 1 depict the Chinese capital market segmentation and the evolution of accounting regulations for Chinese listed A-share firms as of December 31, 2005. Compliance with Chinese GAAP and IFRS is mandatory for Chinese firms that issue both A and B-shares. However, Tay and Parker (1990) remark that â€Å"even where compliance with standards is legally required, companies may not comply if it is perceived that the consequences of non-compliance are not serious† (p. 75). Street and Gray (2001) and Xiao (1999) find evidence that Chinese listed firms compliance with accounting regulations is high. (Sami and Zhou, 2008) We mention the stricter disciplinary rules, monitoring, and sanctions imposed by the Chinese Institute of Certified Public Accountants (CICPA) and the Chinese Securities Regulatory Commission (CSRC) to effectively enforce the new auditing standards. The discussant points out that less effective corporate governance systems (characterized by dominant state and legal-entity ownership) and relatively low litigation risk in Chinas markets (compared to those in the West) could provide opportunities for managers of listed Chinese firms to act in the best interests of the government and its representative organizations rather than report high-quality accounting information or seek quality auditing of their financial reports (Ball, Kothari, Robin, 2000). Thus, the discussant is concerned whether auditing standards could be effectively implemented. While we agree that the Chinese markets are emerging markets, where accounting disclosure tends to be low in quality and quantity, as we mention in our introduction, (Haw, 2008) Corporate governance systems are less effective in Chinas markets than those in the West. In the government-controlled economy of China, managers of listed state-owned enterprises (SOEs) are frequently appointed by the government, who is the controlling shareholder. Recent studies show that such ownership structures adversely affect the information environment of these firms, which results in a high level of information asymmetry and a low level of informativeness of accounting earnings (Fan and Wong, 2002; Haw, Hu, Hwang, Wu, 2004). The managers of listed Chinese firms, where state and legal-entity (mostly SOEs) ownership dominate, are strongly motivated to act in the best interests of the government and its representative organizations, and have less incentive to report high-quality accounting information or seek quality auditing for their financial reports (Ball, Kathari, Robin, 2000). Until 1998, all domestic auditors were public employees, and there was little incentive for high-quality audits, while litigation for audit failure was infrequent.2 In such an environment, it is doubtful whether auditing standards could be effectively implemented. (2) The following set of hypotheses is concerned with the determinants of the extent of company disclosure. By reviewing the results of prior theoretical and empirical researches as well as considering the special feathers of the Chinese market, and data availability, the current study selects 10 relevant independent variables to be included in our model, which were further organized into three (not strictly mutually exclusive) categories, following the structure by Lang and Lundholm (1993),: Structure-related variables, Performance-related variables, Market-related variables and Other Monitoring factors. Structure-related variables The structural variables generally refer to firm characteristics that are widely known and likely to remain relatively stable over time. Size, leverage, state ownership, and board composition are included in this category. Size Apparently, among other possible influencing factors firm size has been the most commonly suggested variable in the disclosure literature, assumed to be positively associated with the level of company disclosure.  Given the existence of information asymmetry in the capital markets and the agency problem raised from the separation between ownership and control, agency theory suggest that information disclosure can be used as a mean to reduce agency costs (Chow and Wong-Boren, 1987). According to Jensen and Meckling (1976) and Leftwich, Watts and Zimmerman (1981), larger firms with more reliance on external funds potentially are more subject to complicated conflicts among their wider range of stakeholders, consequently increasing agency costs. Also, larger firms are assumed as more sensitive to political costs (Watts and Zimmerman, 1986).  Besides, it is noted by Lang and Lundholm (1993) and McKinnon and Dalimunthe (1993) that in order to enhance firm value, large firms tend to suffer from greater pressures from analysts to disclose more information than smaller firms; as reluctance to disclosure may be interpretated  by investors as unfavourable news. In that sense, larger companies have greater needs to engage in more intensive information disclosure in respect to their higher agency costs and greater disclosure demand. On the other hand, comparing to smaller companies, Singhvi and Desai (1971) argue that due to the generally better-established internal reporting systems of larger firms, the marginal cost for additional information disclosure is lower for larger companies than smaller ones.   Furthermore, larger firms are assumed to have less exposure to competitive disadvantage than smaller companies when disclosing detailed company information (Firth, 1979). Therefore, compared to small firms large firms should have additional incentives for information disclosures.  This argument has been confirmed as the influence of size on disclosure has been successfully tested by studies in various countries: the US (Singhvi and Desai, 1971 and Buzby, 1975), the UK (Firth, 1979), Canada (Kahl and Belkaoui, 1981), Mexico (Chow and Wong-Boren, 1987), Nigeria (Wallace, 1988), Sweden (Cooke, 1989), Austria (Wagenhofer, 1990), Japan (Cooke, 1991), Spain (Garcia and Monterrey, 1992, and Inchausti, 1997),  New Zealand (Hossain et al., 1995), Czech (Patton and Zalenka, 1997), and Greece (Leventis and Weetman, 2004). To summarize, based on all the rationales discussed by previous studies and their supporting evidences, the first hypotheses can be formulated as:   H1: firms with larger size disclose information to a greater extent than do those with smaller size. (Patteon and Zelenka, 1997) Several theoretical propositions from the voluntary disclosure literature support the expectation of greater financial report disclosure by larger firms: (1) lower incremental cost of producing information for larger firms (Lang and Lundholm, 1993); (2) transactions cost hypothesis (King, et a/,,1990), which suggests that incentives for private infonnation acquisition are greater for larger firms; (3) legal costs hypothesis (Skinner, 1994), which notes that damages in securities litigation are greater for larger firms; and (4) reluctance of small firms to inform competitors (Raffottmier, 1995). Although we will not be able to determine which of the above explanations is the actual cause, we expect a positive relationship between firm size and extent of disclosure. Generally, firms with more employees are more complex and create the possibility of substantial infonnation asymmetry between the firm and market panicipants. Thus, firms with a greater number of employees might be expected to have more extensive disclosures in their annual reports. (Malone, Fries and Jones, 1988) Singhvi and Desai (1971) provided several reasons why the extent of financial disclosure is different for firms of different sizes. Singhvi and Desai offered three justifications for their reasoning. First, the cost of accumulating certain infonnation is greater for small firms than for large firms. This difference is attributable to the more extensive internal reporting systems already in place in larger firms. Second, larger firms have a greater need for disclosure because their securities are typically distributed via a more diverse network of exchanges. Last, management of a smaller corporation is likely to believe more strongly than the management of a larger corporation that the full disclosure of infonnation could endanger its competitive position. Foster (1986, 111) suggested three possible proxies for firm size: total assets, net sales, and capitalized value of the firm. Among these, perhaps the one least subject to market fluctuations in the oil and gas industry is total assets. Sales and capitalized value of the firm are subject to relatively extreme fluctuations due to the volatility of oil and gas prices. Total assets, although not completely unaffected by this volatility, is less affected because of the broad capital asset base that already exists in each firm. (Meek, Roberts and Gray, 1995) -As noted by Foster [1986, p. 44], the variable most consistently reported as significant in studies examining differences across firms in their disclosure policy is firm size. Generally, large firms disclose more information than small ones. Unfortunately, it is unclear what size proxies. Larger firms may have lower information production costs, or they may have lower costs of competitive disadvantage associated with their disclosures. Larger firms are also likely to be more complex and have a wider ownership base than smaller firms. Agency theory suggests that large firms have higher agency costs [Jensen and Meckling 1976; Leftwich, Watts and Zimmerman 1981]. Finally, larger firms are more sensitive to political costs [Watts and Zimmerman 1986]. All of these reasons indicate that large firms should have additional incentives for voluntary disclosures, compared to small firms. Size is positively associated with voluntary disclosure levels in all of the country studies noted above. (Raffournier and Geneva, 1995) There is a general agreement that a positive relationship between the size of a company and its extent of disclosure is to be expected. Several reasons have been advanced in support of this influence (Singhvi and Desai, 1971; Firth, 1979). First, disclosing detailed information is relatively less costly for large firms because they are assumed to produce this information already for internal purpose. Secondly, because their annual report is the main source of information for their competitors, smaller firms may be reluctant to make a fuller disclosure of their activities which might place them at a competitive disadvantage. It can also be assumed that large firms which, according to Watts and Zimmerman (1978), are more sensitive to political costs, will disclose more in order to allay public criticism or government intervention in their affairs. The influence of size is well documented. All empirical studies on the content of annual reports found a positive relationship between the size of a company and its extent of disclosure. Salamon and Dhaliwal (1980) noted a similar association for segmental information and Cowen et al. (1987) for social responsibility disclosure. (Inchausti, 1997) It is hypothesized that the larger the firm, the more need for external funds. Therefore there will be more potential conflicts among owners, creditors and managers, and information disclosures may be used to decrease agency costs and to reduce information asymmetries between the company and the providers of funds, and potential providers of funds. Larger firms are also subject to more political costs, and disclosure may be used to reduce such costs. On the other hand proprietary costs are smaller the larger the firm, so there are less incentives to withhold information. The independent variables initially considered as measures of size are total assets and sales. However in order to avoid the problems caused by heterocedasticity natural logarithms of these variables (LASSETS and LSALES) were calculated.' The influence of size on disclosure has been successfully tested by studtes in various countries: the US (Cerf, 1961; Singhvi and Desai, 1971; Buzby, 1975; Salamon and Dhaliwal, 1980), the UK (Firth, 1979), Canada (Kahl and Belkaoui, 1981), Mexico (Chow and Wong-Boren, 1987), Nigeria (Wallace, 1988), Sweden (Cooke, 1989), Austria (Wagenhofer, 1990), and Spain (Garcfa and Monterrey, 1993; Wallace et al. 1994). (Ferguson, Lam and Lee, 2002) Research indicates that voluntary financial statement disclosure is influenced by other factors. Larger firms face higher agency costs (Leftwich et al., 1981), higher political costs (Jensen and Meckling, 1976), greater information demand from financial analysts (Lang and Lundholm, 1993), and lower information production costs (Firth, 1979; Leftwich et al., 1981). Consistent with these arguments, a positive relationship between firm size and voluntary disclosure has been found in studies of US (Firth, 1979), Swedish (Cooke, 1989), New Zealand (Hossain et al., 1995) and Japanese firms (Cooke, 1991), as well as for firms listed on multiple exchanges (Meek et al., 1995). (Hossain, perera and Rahman, 1995) A number of disclosure studies (e.g. Cooke, 1991, 1989) find that firm size is an important factor in explaining variability in the extent of corporate voluntary disclosure. In the agency theory literature. Chow and Wong-Boren (1987, p. 539) argue that potential benefits of voluntary disclosure are likely to increase with agency costs. Moreover, Jensen and Meckling (1976) contend that agency costs increase with the proportion of outside capital. The proportion of outside capital tends to be higher for the larger firms (Leftwich, Watts and Zimmerman, 1981). Thus, agency theory predicts a positive association between firm size and the extent of corporate voluntary disclosure. It is also argued, in the literature, that fiirm size is a comprehensive variable which can proxy for several corporate characteristics, such as competitive advantage and information production costs (see Buzby, 1975; Firth, 1979; Le

Star Wars :: essays research papers

People are always looking for a good way to escape the pangs of work. Since work is so important in society today that it is almost impossible to avoid doing work without having to pay the price in the future. The perfect escape would be one that alleviates the strain of work yet does not incur any future expenses. Many people have found science fiction novels and movies to be great escape mechanisms. Science fiction is such a perfect escape for many people because it allows its audience to vicariously experience the joy of future technology – technology that promises less work and much more play, at no cost.An escape must have three things in order to be considered a true escape. First, an escape must permanently or at least temporarily eliminate one’s responsibilities. As long as one has responsibilities looming overhead, one cannot really feel free. It will also work if the escape produces the illusion that one’s responsibilities are gone.Secondly, an escape must enhance leisure. If the escape does not enhance leisure then boredom will most likely be the result. Also, due to the fact that most escapes are the temporary kind, leisure time is generally very precious. Therefore, it is not enough that an escape simply do away with work and responsibility. An escape must also take full advantage of one’s leisure time.Third, an escape must not have any undesirable consequences. This is the condition that justifies the escape itself. Suppose for example that a person became tired of his or her job and simply stopped working. That person would soon be fired, and although he did avoid doing work, his method of escape cannot be justified because of the undesirable consequences that followed. This is perhaps the most important condition an escape must satisfy. Science fiction literature and films are very good escape mechanisms. While a person is absorbed in the goings on within a particular novel, movie, etc., that person can experience what the characters are experiencing, and it is common for the characters to have lifestyles that meet the three conditions above. The reason for this is that in science fiction it is very common for the characters to have a very technologically advanced way of living. The futuristic technology allows the characters to do less work and have more fun with no consequences. Take for example the movie star wars.

An Individuals Achievement Of Self-knowledge :: essays research papers

An Individual's Achievement of Self-Knowledge   Ã‚  Ã‚  Ã‚  Ã‚  An important theme is an individual's achievement of self-knowledge as a result of undergoing an ordeal. As Rev. Hale sits through the proceedings of the court in the play The Crucible by Arthur Miller, his views change drastically.   Ã‚  Ã‚  Ã‚  Ã‚  When Rev. Hale first arrives in Salem, he is very objective about the whole situation of witchery. He questions Tituba and Abigail about all the events that occurred in the forest such as the girls' dancing and the frog in the kettle. He firmly believes that witchery was involved in causing the unresponsive condition of Betty Parris. He coaxes a confession from Tituba who names others supposedly involved in consorting with the Devil. He strongly encourages the authority of the Church to seek out and convict any unknown enemies of the Church. The Salem witchcraft trials began as a result. At first, only the poor and lower classes were accused, but soon respectable members of the community such as Rebecca Nurse and Elizabeth Proctor were charged. Hale's personal feelings tell him that they are innocent, but his Puritan background prevents him from questioning the authority of the court.   Ã‚  Ã‚  Ã‚  Ã‚  As the play progresses, Hale begins to alter his views about the trials. He suggests that John Proctor should have a lawyer, but this request is denied by Danforth. He claims that a lawyer is not necessary because only the demon and the witness are important. Actually, he is conveying that the court alone will decide on the witness' probity based on his own words. Hale realizes that John Proctor is an honest man when he would willingly ruin his own reputation in the hopes of exposing Abigail as a whore. He absolutely cannot believe that the court won't accept his testimony as the truth. Hale thinks that the children are irresponsible fakers. He denounces the entire proceeding and leaves. Ironically, Rev. Hale returns to Salem to encourage the accused to lie in

Genital Mutilation In Sudan :: essays research papers fc

The lights are dim and the voices quiet. Tension fills the room where Nafisa, a six-year-old Sudanese girl lies on a bed in the corner. Her aunt, 25-year-old Zeinab, watches protectively as her niece undergoes the procedure now known as female genital mutilation (FGM), formerly called female circumcision. In this procedure, performed without anaesthesia, a girl's external sexual organs are partially or totally cut away. Zeinab does not approve. For the past year she has been trying to persuade her mother and sister to spare Nafisa from the procedure. She lost the battle with her family, but she will stay at her niece's side. She watches Nafisa lying quietly, brave and confused, and remembers her own experience. Zeinab underwent the procedure twice. At six years old she had the more moderate form of FGM, called Sunni, in which the covering of the clitoris is removed. When she was 15 the older women of her family insisted she have the Pharaonic form, which involves removal of the entire clitoris and the labia and stitching together of the vulva, leaving just a small hole for elimination of urine and menstrual blood. Zeinab still remembers the pain, the face of the women performing the procedure, the sound of her flesh being cut. She also remembers bleeding and being sick for weeks. This extreme form of FGM has been performed on 82 per cent of Sudanese women, according to a recent survey. Today, 85 to 114 million girls and women in more than 30 countries have been subjected to FGM. Female genital mutilation has long been performed to ensure chaste or monogamous behaviour by suppressing female sexuality. It is commonly -- although erroneously -- attributed to religious edict. In fact, neither Islam nor Christianity officially sanctions it. FGM is dangerous. It is estimated that untrained traditional birth attendants perform two thirds of the procedures. They typically have limited knowledge of health and hygiene and often use inadequately cleaned traditional instruments. Side effects of FGM include trauma, bleeding and haemorrhage; pain, stress and shock; infections (which can be fatal); painful and difficult sexual relations; obstructed labour and difficult childbirth; and psychological trauma. The effects can last a lifetime. The practice was declared illegal in the Sudan in 1941, but that did little to stop it. About 90 per cent of northern Sudanese women have had it done. Why does FGM continue? In surveys, the most common reason

Categorical imperative Essay

Philosophers usually tend to think and respond in totally different and opposite ways. However, in Glaucon’s challenge, Aristotle, Spinoza, Hume, Kant and Mill agreed that it’s an uncontrollable system of desire. In Glaucon’s challenge he describes three important ideas. The first idea is â€Å"of the nature and origin of unjust, according to the common view of them† (488). The second idea is â€Å"I will show that all men who practice justice do so against their will, of necessity but not as a good† (488). The third idea is â€Å"I will argue that there is reason in this view, for the life of the unjust is after all better far than the life of the just† (488). Each one of these philosophers responded to this challenge similar and different manners. Aristotle believed that to be a good man is to have good morality. In his point of view he sees that morality gives a reason that leads to actions. Artistotle respond toward Glaucon’s challenge is reason guides passion. This makes him an injustice man because he just cares about how to please himself and follow his desire. Spinoza’s idea is emotions have nothing to do with human beings its reasons that guide us. He believed that passion and emotions leads us to be changeable due to how the world around us and not necessarily our knowledge. Reasons give us the opportunity to gain knowledge of life. Spinoza becomes unjust and gives reasons to Glaucon’s challenge. From Hume’s point of view he believed that benevolence makes us social being instead of self interest. Hume’s main concern is sympathy and empathy. Sympathy is the nature of human that makes them human beings. It’s the ability to see feel pity toward other. Empathy is the understanding of pain and happiness of one another. Hume believed that all human are selfish and that their passion guides their reasons. Passion and reasons is not having emotions or feeling pity. Hume’s view is that we should the ability to feel others emotions and understand them. Kant sees that the categorical imperative is the only moral way to act. Categorical imperatives are based on ideals of logic and acts on duty. He believed that if you feel satisfied about something you did, you shouldn’t consider it a reward but rather as a bonus for you. We only do moral things because it’s in fulfill our interest and benefit. Kant responds to Glaucon’s challenge that if the act is immoral, then it cannot be considered into categorical imperative. Mill’s view is that everyone should be satisfied and happy. He believes that everyone should think of the consequences of their actions before deciding to make them. Mill puts others as well as himself into consideration before any action. He doesn’t argue towards or against Glaucon’s challenge, he just cares about his pleasure and others. Each philosopher had his own argument toward Glaucon’s challenge. Their ideas were unjust happiness towards Glaucon’s challenge. Aristotle and Hume had opposite views. Aristotle‘s idea towards the challenge was reason guides passion, where Hume’s idea was passion guides reason. Mill and Kant had the same assumptions. Mill expresses about pleasure and Kant was certain about duty. Mill agrees with Aristotle as well, they believe that happiness is a man’s ambition and human existence. Spinoza is just unjust to the whole idea of the challenge. These philosophers’ ideas were very similar that a man would behave unjust if he had the ring.

My Ideal Business Essay

In order to open a business there are many details that need to be determined to protect the owner before opening. The parts of the business that need to be determined are: the legal form of entity, control of the business, taxation, and financing. The business I want to open is a full service Italian restaurant. The name of the restaurant will be Tony’s Italian Restaurant. In this paper I will explain the details of my business and discuss the Construction Scenario. Tony’s Italian Restaurant My brother and I have always dreamed of owning a restaurant. Throughout the years I have thought about this business and am excited to open this restaurant soon. The business will be two restaurants in one building. On one side there is a full service restaurant with a bar and on the opposite side there will be a pizzeria. The pizzeria will be a delivery and pick-up service only. Legal Entity Tony’s Italian Restaurant will be a Limited Liability Company (LLC). Forming our restaurant as an LLC will enable both my brother and I to operate, manage, and control the business. This way we can each manage different aspects of the company. We will also be able to have an equal share of the business. Financing of the business will be owner invested and different small business loans available through the government and small business association of our town. The owners of the restaurant will each invest equal amounts of capital into the company in order to keep everything uniform. For tax purposes, an LLC works out the best for my brother and I. We will be able to file taxes as a partnership and meaning the income or losses from the company will be split between us and filed on our personal taxes. This ensures us that we are not taxed twice. The most important advantage to forming an LLC is the liability issue. With the business as an LLC, we are not personally liable for any debts, obligations, or torts that come from the business. In order to register our business in the state, we must submit an article of organization to the secretary of the state of Virginia. Laws and Regulations The business being a restaurant will have to follow many different laws and regulations. Regulations concerning the serving of alcohol, serving food, labor laws, paying taxes are all included in this business. The regulations regarding the serving of alcohol include: obtaining the proper license, the proper identification procedures of customers, serving hours, and ages of servers. Of course in a restaurant you have many laws and regulations concerning food preparation and serving. The local health department will make frequent visits to make sure the restaurant is up to par regarding the food. The business will need many employees to make the restaurant successful. The labor laws are very important to follow. From pay rates to overtime, as well as laws for minors and proper identification for hiring, the laws are necessary to follow. There are also state and local taxes that need to be paid on a regular basis. Any violations of these laws and regulations could cause the business to be shut down. Risks of Operating a Restaurant As with any business, there are many risks when operating a restaurant. The biggest risk is food poisoning. Being experienced in food service, I will be able to put safeguards in place to eliminate the risk of food poisoning. Other risks include injuries to customers, unhappy customers, and lack of business. I believe that most of the risks involved in operating a restaurant are controllable. There will much attention to detail when it comes to this topic. Conclusion With the information I learned from the Business Law class, I believe I am one step closer to fulfilling my dream and opening my own restaurant. Choosing the proper entity, abiding by the laws and regulations, and eliminating the risks are great steps to opening a business. Construction Scenario In the construction scenario, the most important aspect is to adhere to the job requirements. The posted requirements are having jackhammer experience and a high school diploma. Michelle has jackhammer operator experience and a high school diploma. She is a perfect candidate for the job. The fact that she is pregnant should have no affect on the hiring decision unless the use of the jackhammer will have a negative effect on the pregnancy. Eric has jackhammer experience but no high school diploma. Since the requirements list a high school diploma, he is eliminated from the position. Felipe also has no high school diploma but has jackhammer experience. His is eliminated because of the lack of the high school diploma. Nick is a college graduate but no jackhammer experience. Without jackhammer experience he is also eliminated from the position. The best person for the job is Michelle. If there are no medical risks involved with a pregnant person operating a jackhammer, Title VII protects pregnant people from being discriminated.