Ethical Issues Econet Needs to Consider in Its Operational Activities Coursework

Ethical Issues Econet Needs to Consider in Its Operational Activities - Coursework Example This paper illustrates that one of the ethical issues Econet needs to consider in its operational activities is the working conditions of the employees. It involves the safety of the employees being guaranteed in their working environment by providing the necessary equipment and special attires for some unique jobs. Working conditions also should embrace the compensation of the employees for the period they have worked. Another business ethics to be considered is discrimination. Discrimination may involve harassment of the female employees based on their gender or the act of diminishing the new employees that join the organization. Sensitivity training should be conducted to limit the chances of discrimination among the employees. Additionally, the ethical issue of corporate governance should be considered. It is a system by which a company is directed and controlled. It is evident that corporate governance is predestined to maximize shareholders value and protect the interest of oth er stakeholders. Statistics have proven that improved corporate governance enhances value to the company’s operational performance. The company can rationalize management and monitor risks that a firm may face globally. Also, the company guarantee the truthfulness of the financial reports and obtains a long-term reputation among key stakeholders. Another ethical issue to be considered by Econet is the legal and regulatory compliance. The managers should ensure that environmental laws, fiscal and monetary reporting principles and all applicable civil rights are complied with to ensure the smooth running of the firm. The researcher is also going to evaluate the influence stakeholders exert on Econet. Some of the stakeholders in the company are the customers, shareholders, employees, suppliers, and government. Employees are the internal stakeholders who are involved in the day-to-day activities of the company. Employees’ productivity influences the performance of the comp any in the market space. As for customers, they are the external stakeholders. It is evident that customers influence the profit margins and turnover through buying products and services. Suppliers are external stakeholders who influence Econet operations by supplying various products. When suppliers avail, the product in time Econet can fulfill their customers’ needs.

Neolithic development Essay Example for Free

Neolithic development Essay Neolithic development is characterized by the first agricultural revolution, when people moved from hunting gathering to agriculture and settlement. They developed tools for farming, pottery, spinning, and weaving. 2. The Hebrew is chosen by their God to go to the Promised Land. The Hebrew covenant with their god is characterized by the Ten Commandments that they have to follow throughout their lives. The Talmud is a set of discussions regarding Jewish laws, ethics, customs and history and is held important in Rabbinic Judaism. The Hebrews came to Palestine because some parts of it were defined as part of the Promised Land or Canaan. 3. It was Ahmose I who reunified Egypt in the 8th century by conquest and expulsion of the Hykos and reassertion of Egypt’s power over Nubia and Canaan. 4. It was the Sumerian people who invented taxation in order to make taxation easier. Sumerian scribes are record keepers, which are usually for the records of taxation. Mesopotamia was generally polytheistic, or the belief in many gods. These gods are the ones which provided them whatever they needed to survive. With the harsh environment of the Middle East, these people adapted laws that would punish offenders severely so as to avoid repetition of crimes. Egyptian and Mesopotamian religions differ with the gods they rule and the characteristics of these gods. 5. After Solomon’s death, the Hebrew state became separated, as the ten northern tribes revolted and successfully seceded to create their own kingdoms. 6. The Battle of Kadesh marked the first international peace treaty ever made, and it was between Egyptians and the Hittites. 7. Assyrians maintained political cohesion and military preparedness because they all followed only one rule, and that is of their King. 8. The Magi is a group of people from Media who were known for their religious and funerary practices of the people of ancient Persia. Zend-avesta refers to the interpretation of the Avesta or the primary collection of sacred texts of Zoroastrianism in the Avestan language. Zoroaster taught religion and philosophy, about the universe and the struggle between truths and lies. Ahriman is basically the demon in Zoroastrianism and Ahura Mazda is the god. Satraps are the governors of Median and Persian empires. 9. The weaknesses of the human condition can be overcome by not overindulging or by following a simple life. Attachment and craving can be ceased by following the eightfold path. Nirvana is the state of being of a person wherein he is free from suffering and the cycle of being reborn. Human beings, like all things are impermanent, and there is no constant self. Human existence can be associated with suffering. 10. Jains preach that by cultivating a person’s own personal wisdom and control, he can achieve spiritual development. According to the Bhagavad Gita, the human condition is temporary and can still transcend to a supreme being. Dharma is the duty of a person that he must fulfill. Upanishads teach about the universal spirit and the individual soul and how both asserts an identity in an individual. Here, ascetism is characterized by doing away with wants and desires and following a life away from human indulgence. 11. Zhou China boasted of an organized medical system wherein physicians have specialties. Zhou was different in the aspect of government because it became feudal. Mandate of heaven means that the rulers are legitimately blessed by the heavens, and if the heaven would be displeased, the mandate would be revoked. 12. Yao, Shun, and Yu are the holy and virtuous mythical rulers of China who divided it into its regions. According to Confucius, the family is the basic unit of the society. A just and peaceful society would be obtained if people follow the rules. Mutual obligation would only be evident in the family, of parent and child and of husband and wife. 13. Yin and yang are the two opposing forces in any phenomenon. They are at the same time complimentary, and this is the basis of the system of correspondence in the Chinese philosophy and study of science. Daoism teaches reverence for nature, as it is a way of life. Han Feizi taught Legalism, wherein the ruler should be the one that controls the state. This is based on the concepts of his position of power, certain techniques and laws. Sima quan is a scribe of emperor Wu who made detailed biographies of Royal affairs. Tang is known as the period of golden age for arts and literature, as they called for perfection in one’s skills if they ever wished to pass the examinations of the empire. 14. Geography affected the development of Greece because it is surrounded by other areas. This made Greece a melting pot of intellectuals though this made them vulnerable to the advances of invaders. Hoplites are the soldiers of Ancient Greek, while Polis is the city state itself. Agora on the other hand, is an open place of assembly for the Greeks. Women in Athens are revered and treated highly while women in Sparta are treated inferior to the males. Messenian helots were mistreated and humiliated, and a Spartan can do anything he desire without fear of punishment to a Messenian helot. Greek’s defeat of Persia boosted their confidence and has set forward to more conquests. 15. Sophists taught philosophy and rhetoric. Socrates taught using the Socratic Method wherein you have to ask a series of questions in order to learn. He taught politics, philosophy, ethics, and many more. Socrates was executed because of his pursuit of virtue and truth, and he has praised Sparta which is the rival of Athens. Women were given more importance in the public affairs in the Hellenistic society. Solon was the founding father of the Athenian polis. Greek drama originated from Greek tragedy, wherein performances were made in various festivities. Epicurus advocated for a life without pain and with the pursuit of pleasure. 16. Mystery religion restricted to those who underwent certain secret rites or process. Greek religion is highly based on what the current ruler believes in, and the people would just follow suit. Philip II unified Greek by conquering the lands and using a great destructive army to threaten enemies to submission. The consequence of Alexander’s conquest of Macedonia is that many people aspired for his power, and when he died, the empire was divided. 17. The Bactrian camel was important because it was the only means of travel that could withstand the long arduous trade route for the Chinese. Hans used advance technologies, like cast iron and steel. Han cities were advanced with efficient agriculture and iron industry. In order to solve the poverty among peasantry, some rich Han people were stripped of their land and was given to the peasants for them to work on. The Hans invent Hydraulic powered hammer for agriculture and iron sector and winnowing machine for agriculture. Emperor Wu expanded the Chinese territory, nearly doubling its size. Buddhism in these countries aimed to resolve the problems in a simpler way of life. Korean Buddhism made variations to it because of its inconsistencies. Shinto is a Japanese religion that was native of the country and was considered once as the state religion of Japan.

Marketing Case Study Essay -- GCSE Business Marketing BTEC Coursework

Marketing Case Study Marketing Mix: The term marketing mix is used to describe the all the options available to the marketing manager in order to market a particular good or service. It is often referred to as the 4P’s(i.e Product, Place, Promotion, and Place) The Product Variable: This aspect of the marketing mix deals with researching consumers’ product wants and designing a product with the desired characteristics. This is a very important element of the marketing mix because it directly involves creating products and services that satisfy consumers’ needs and wants. The Place Variable: To satisfy consumers (i.e their needs and wants), products must be available at the right time and in a convenient location. In dealing with the place aspect, a marketing manager seeks to make products available in the quantities desired to as many consumers as possible. The Promotion Variable: This aspect relates to methods used to inform one or more groups of people about an organisation and its products. Promotion can be aimed at increasing public awareness of an organisation and of new or existing products. It can also be used to educate consumers about product features or to urge people to take an interest in that product. The Price Variable: This aspect of the marketing mix relates to the activities associated with establishing pricing policies and determining product prices. Price is a critical component of the marketing mix because consumers are concerned about t...

Deceptive Females of Homers Odyssey Essay -- Homer, Odyssey Essays

The Deceptive Females of Homer's Odyssey      Ã‚   Homer's Odyssey is probably the most famous and well-known epic of all time. This tale relates the adventures of the archetypal hero, Odysseus. Odysseus' long journey home takes him to many different places where he encounters many different monsters and creatures, but there are certain recurrent elements throughout. The most common themes in the Odyssey are forgetfulness, willingness to risk pain for pleasure, and sexual temptation.    When comparing the Sirens episode with Odysseus' other adventures, one can observe an emergence and repetition of these themes. The most obvious comparison that can be drawn between the Sirens episode and most other adventures is the theme of forgetfulness. The same idea is repeated in Odysseus' adventures with Calypso, Circe, and, most importantly, the Lotus-eaters. The Sirens are all knowing, beautiful creatures that attract men with their songs about the world, but those who give in and stop to listen can never leave. Fortunately, the Sirens are unable to draw Odysseus in because he has been forewarned by Circe and knows how to resist. "but melt wax of honey and with it stop your companions' ears, so none can listen." (12.47-48) Once he hears their song, he forgets about his homeland and wants to be set free so that he can listen to their song. "fastened me with even more lashings and squeezed me tighter." (12.196) Without... ..., Audiences, and Narrators in the Odyssey, Ann Arbor 1995. Felson-Rubin, Nancy.   Regarding Penelope: From Courtship to Poetics, Princeton 1994. Foley,   Helene "Penelope as Moral Agent," in Beth Cohen, ed., The Distaff Side, Oxford 1995., pp. 93-115. Graham,   A. J.   "The Odyssey, History, and Women,"   Princeton 1992 Griffin, Jasper. Homer on Life and Death, Clarendon Press. 1980. Homer.   Odyssey trans E V Rieu, Penguin Books. 1950. Katz, Marilyn Arthur.   Penelope's Renown: Meaning and Indeterminacy in the Odyssey, Princeton 1991. Lefkowitz,   Mary.   "Seduction and Rape in Greek Myth," 17-37. Schein,   Seth. "Female Representations and Interpreting the Odyssey," by pp. 17-27.   

Abortion in American Culture

American Pop Culture Americas culture is evolving everyday although, society is not aware of this change due to the everyday hustle that we exert on ourselves trying to accomplish what the media and advertising has imprinted in regard to what our lives should contain. Media and advertising have a huge impact on how society thinks, acts, feels, and what is expected therefore, Americans subconsciously are trying to achieve what the media has painted as the American Dream. There are many ways that societies thoughts have been altered with the assistance of the media, one action that evolved the entire country would be the Roe vs.Wade ruling. Prior to Roe vs. Wade women throughout the country were making decisions on abortion but abortion was not legal at the time. â€Å"Abortion was widely available in many places across the United States if you were a woman who had good medical contacts and sufficient money. If you lacked either those contacts or the money, then abortion was either no t available or available under exceptionally unsafe circumstances† (Garrow, D. 1999). During the 1960’s women received better medical services because of the higher social status they contained.Compared to women who did not have those types of social contacts or the money, they would put their lives at risk when making the decision to continue with an abortion under unsafe circumstances. Decisions like this were made because of the consequences that society or culture would place on the woman. When Roe vs. Wade went to trial in 1973 to determine if a woman’s constitutional rights were being violated the final ruling had an enormous impact on the country. It gave women the chance to decide for themselves without the complications of being exposed to unhealthy or possibly deadly situations.This did not change the way Americans felt about the issue but it did change the way women all over the country dealt with the issue. Women now had a voice of their own in regard to making a decision that would affect them for the rest of their lives. This also changed how the rest of the country would react because now it is not a secret, the issue is out in the open and everyone sees the outcomes whether positive or negative. The legal struggle of Roe vs. Wade has impacted the country with the assistance of the media and advertising.The impact has affected all Americans but for some the impact on their lives is larger than others depending on the daily tasks. For example, physicians must deal with patients who are requesting an abortion. The physician must choose to assist the patient or have them seen by another physician because he or she does not want to participate in an action that they do not believe in. Politics is another example where the abortion issue is always discussed, especially during the election season. Running representatives are always careful in choosing pro-life or pro-choice, this type of decision can make or break their career.As n oted in Abortion in America, â€Å"Abortion is too much part of the American Scene† (Shostak, A. 1991) therefore this is an issue the country must deal with or years to come. References Garrow, D. (1999, March). Abortion Before and After Roe v. Wade: An Historical Perspective. Albany Law Review, 62(3), 833. Retrieved August 5, 2009, from International Security & Counter Terrorism Reference Center database. AB, S. (1991, July). Abortion in America. The Futurist, 25(4), 20-24. Retrieved August 5, 2009, from MEDLINE with Full Text database.

War Powers Act essays

War Powers Act essays The farmers of our Constitution recognized the need for separate powers as well as checks and balances among the executive, legislative and judicial branches. This in turn helps to provide for the common defense. Separation of powers prevents one branch from becoming excessively dominant over the United States, in order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare and secure the blessings of liberty to ourselves and our Posterity, do ordain and establish this Constitution of the United States of America.: In order to accede to the preamble and adhere in its goals, the Constitution ensures this is by clearly stating the authority of the Congress in Article I Section 8 and the authority of the President in Article II Section 2. These fixed powers in the Constitution clearly state that one cannot act without permission or authorization of another. It is designed to that one cannot take acti on without consent of the other branch. This is prevalent in Article I Section 7 that states the process of how a law is passed. The fact that there are clear steps to the initiation of a law states the importance of separation of powers so that a single dominant branch does not arise. One of the biggest debated concerning the separation of powers it the attempt to determine which branch has the constitutional authority to undertake the involvement of war. This brings us to the argument of the constitutionality of the War Powers Resolution passed by congress in 1973 in effort to balance powers between congress and the president. Section 3 of the War Powers Resolution act states: The President in every possible instance shall consult with Congress before introducing United States Armed Forces into hostilities or into situation where imminent involvement in hostilities is clearly indicated by the circumstances, and after every suc...

assisted suicide or euthanasia essays

assisted suicide or euthanasia essays On July 26, 1997, the U.S. Supreme Court unanimously upheld decisions in New York and Washington State that criminalized assisted suicide. As of April 1999, physicians-assisted suicide is illegal in all but a couple of states. Over thirty states have established laws prohibiting assisted suicide, and of those who dont have statues, a number of them prohibit it through common law. In Michigan, Jack Kevorkian was initially charged with violating the state statue. He was charged with first-degree murder and delivering a controlled substance without a license. The assisted suicide charge was dropped, however, he was eventually convicted of second-degree murder and delivering a controlled substance without a license. Only one state, Oregon, has legalized assisted suicide. The Oregon law, which went into effect in October 1997, provides that a doctor may prescribe, but not administer, a lethal dose of medication to a patient who has less than six months to live. As of April 1999, 2 3 patients were given the drugs under the statue, and 15 of them used the drugs to commit suicide. A report released by the Oregon State Health Division found that the law was working well and had not been subject to abuse (REED A9). The word Euthanasia originated from the Greek language: eu means good and thanatos means death. The term euthanasia normally means that the person who wishes to commit suicide must initiate the act (WORLD BOOK). However, some people define euthanasia to include both voluntary and involuntary termination of life. Euthanasia has many meanings so it is important to differentiate among the vaguely related terms. These meanings of terms were cited from George Lundberg, M.D. in Views of Assisted suicide. Involuntary Euthanasia: This term is used by some to describe the killing of a person in opposition to their wishes. It is basically a form of murder and not a popular view among most people...

2017 2018 Full Review of Every SAT Test Date

2017 2018 Full Review of Every SAT Test Date SAT / ACT Prep Online Guides and Tips Deciding when to take the SAT can be stressful because the best test dates aren't the same for everyone. Levels of preparation, goal scores, and other academic conflicts should all be considered in devising the most logical testing schedule for each student. The following is a full description of the pros and cons of each SAT test date in the 2017-2018 school year for sophomores, juniors, and seniors. You can use this guide to come up with a game plan that works for you! 2017 Test Dates These fall dates are usually best for juniors taking the test for the first time or seniors trying to improve those last few points to reach their goal. August 26, 2017 Sophomores This is probably too early for incoming sophomores to start taking the SAT. You most likely won't have learned all of the concepts that are being tested. Additionally, you probably won't know what your college goals are yet. It's better to hold off until you have a clearer idea of what colleges you are aiming for and thus what scores you are targeting. However, this is a great time to start preparing for the test. Junior This is a good first test date for juniors. You will know pretty much all the concepts that are tested and you will have time to prep over the summer. Plus, you'll have plenty of potential dates to retake the test later if you want to improve your score. Seniors If you're hoping to retake the test one last time before application season gets in full swing during your senior fall, this is a solid test date choice. You will also be able to devote time in the summer to studying so you can really improve your scores.This is also a good choice if you haven't taken the test at all because then you will have time to study and retake in November or even December if you need to. October 7, 2017 Sophomores Sophomore fall is too early for most students to begin taking the SAT because you may not have learned all the concepts that are tested.You can feel free to begin preparing at this point by doing practice questions or getting review books, but you should hold off on taking the test for realuntil you know exactly what you’re dealing with and what your score goals are.Most sophomores haven’t yet begun their college search, and knowing where you plan on applying is important in nailing down a target score. Juniors This is a good date for juniors to take the SAT for the first time. You will have learned pretty much all the concepts that are tested. Plus, You'llhave plenty of time after you get your scores back to study for test dates later this year if you’re still unsatisfied with your performance. Seniors If you want one last shot at the SAT after preparing over the summer, this is a good date to take it if you can't make the August 26 date.It’s before you’re too stressed out about college applications, and if you’re applying early decision you’ll still have plenty of time to send colleges updated score reports. QAS is offered on this test date! QAS is short for Question-and-Answer Service, which is a completeguide to your scores that will help you review them in more detail. It can be very useful in preparing for future retakes because you'll be able to see all the original questions, their difficulty levels, their types, and which you answered correctly and incorrectly. This can tell you a lot about the nature of your mistakes and how you might be able to avoid them going forward. QAS is offered for the October, MARCH, and May test dates. For the other dates, you'll be able to order the SAS, or Student Answer Service, which is a less comprehensive version of the QAS. PSAT Test Date: October , 2017 It's important to keep this date in mind if you're a sophomore or junior and plan to take the PSAT in preparation for the real test. You might shift your test-taking schedule forward or backward to accommodate the PSAT if you're worried about getting testing fatigue. Spending too many weekend mornings filling in little circles in unfamiliar classrooms could make anyone go crazy. November 4, 2017 Sophomores I’d say this is too soon to take the test as a sophomore unless you’re extremely well-prepared.It’s tough to know what your score goals are at this point because you probably haven’t started seriously looking at colleges.If you’re concerned about the SAT already, just take a practice test or the PSAT to get a better idea of what you’re expected to know and how much you need to prepare before you take it for the first time (ideally junior fall). Juniors This is another solid date for juniors to take the test for the first time.If you miss the October date, it’s a pretty good option unless you're taking the PSAT in late October and are worried about getting overwhelmed with too much standardized testing at once. If you take the SAT in November, you’ll still have a pretty solid buffer between getting your scores back and the test dates in spring 2018. Seniors This is the latest date for seniors who are applying to college early decision to take the SAT.Most schools still allow scores from the November test date to be submitted along with early decision applications even though the deadline has technically passed, but check the policies at your chosen colleges before signing up for this test date.If you’re applying regular decision this is a decent test date for you, although you might be busy preparing other components of your application.In general, I’d aim for August or October instead. December 2, 2017 Sophomores This is, again, a bit early, but there’s nothing wrong with taking the SAT at this time if you feel confident in your abilities.Don't stress yourself out too much about the SAT yet, though.If you’re curious about where you stand score-wise, I’d suggest just taking a timed practice test so you can see what you need to work on before you attempt the real test for the first time. Juniors This might be a tough time to take the SAT if you have big mid-year tests coming up or are distracted by the holidays.Still, if you didn’t get a chance to take it earlier in the fall, this could be a decent option.It’s well before the test dates in late spring and summer, so you’ll have time to look at your scores and study constructively before a potential retake in May, June, or August. Seniors For some schools, this is the last date that you can take the SAT and still submit your scores with a regular decision application.If you took the SAT in October as a senior and still are not happy with your scores, this might be your last chance to retake.Don’t focus on improving slightly on the SAT over completing the rest of your application, but if you wantone last chance this date is your best bet. Make the most wonderful time of the year even more so by taking the SAT! Can you say comfort and joy 2018 Test Dates Spring and summer dates will be too late for most seniors, but they are ideal for juniors and ambitious sophomores. March 10, 2018 Sophomores This is the earliest I would suggest taking the SAT as a sophomore. Some concepts that come up on the SAT are typically taught sophomore year.It’s best to wait until you’re more than halfway through the year so you’ll know what you’re doing on most of the questions even if you haven’t prepared much.If you take the test on this date your sophomore year, you’ll have a solid five months to review your scores and study for upcoming junior year test dates. Juniors This is actually a pretty good time to take the test as a junior because it won't conflict with most mid-year tests and finals.You’ll also have enough time to review your scores from fall test dates and make meaningful progress.You will get back your scores far in advance of senior year, and you can even retake the SAT in May, June, or even August if you’re hoping to finish up standardized testing this year. Seniors It’s too late by this point for seniors who applied to college this year to take the SAT.Make sure you get in your last chances earlier in the year if you’re still not satisfied with your scores. QAS is offered on this test date! May 5, 2018 Sophomores If you want to get started early and feel you are up to speed on all of the topics covered by the SAT, this could be a good date for you to take the test for the first time.You’ll get back your results in June and be able to use them to prepare for your first retake in August or in junior fall.At this rate, you could finish with standardized tests before you even start filling out college applications. Juniors This is a good time to take the SAT as a junior because it will probably happen before your finals, and you’ll get your scores back right at the beginning of the summer.You’ll have the whole summer to review your results and continue studying if necessary.The only issue with this date is that it might conflict with AP tests.If you’re in AP classes and are worried that you’ll be overwhelmed, I’d suggest taking the SAT in March, June, or August instead.Ideally, this will be your second time taking the SAT after your first attempt junior fall. QAS is offered on this test date! June 2, 2018 Sophomores Like the May test date, this might be a reasonable option for sophomores who feel prepared and are hoping to use this as a jumping off point for a retake junior fall.The main issue is that as a sophomore you’re more likely to take fewer AP classes and more regular classes that have finals that conflict with this test date.If you plan on taking the test sophomore spring, I’d suggest May over June. If both dates conflict, you could also do the August date. Juniors This is another reasonable testing option for juniors, especially those who feel confident about the test and have already prepared extensively.Sometimes, this can be better than the May test date because it doesn’t conflict with AP tests.However, it may conflict with regular in-class finals. You could also do the August test date if both dates conflict. August 25, 2018 Advice for this date is similar to advice for the 2017 August date: if you're a sophomore, this is too early. But this is a great choice for a junior taking the test for the first time or a senior who is taking the again before application season. After the test, you can get back to sitting around bonfires with your friends and being mad when someone else steals the seat right next to your crush so you can't wallow in one-sided sexual tension for hours (high school was a tough time for me). When Should You Take the SAT? There are seven SAT test dates offered over the course of the 2016-2017 school year, so you have lots of choices, particularly if you're a sophomore or junior. If you plan on taking the SAT as a sophomore, you should probably wait until the second half of the year. The top three dates for sophomores are May 2017, June 2017, and March 2017 in that order. As a junior, you could choose to take the test at any time during the year. You'll have to make an informed decision based on how prepared you are. The best strategy for most people is to take the SAT in August, October, or November, study from the results, and go for a retake in either May, June, or the following August. You might fit in a third test date in the winter, but only if you feel that you have the potential to improve substantially from your fall scores. If you'll be a senior and want to take the test one last time, your best bet is the August test date followed by the October date, which come before the hectic application season. November is also a possibility. I'd try to avoid taking the test as late as December, but if one of this datesis the only one that works for you and your schools will accept scores from tests taken that late in the year, then those are acceptable last-resort options. It's a great idea to plan out your testing schedule in advance so you don't forget to sign up for an important date. Consider the advice in this article and your college plans to come up with the best way to structure your standardized testing over the course of the upcoming school year! What's Next? Still not sure whether you should take the SAT or the ACT? Read our guide to choosing the best test based on your strengths and weaknesses as a student. Setting practical goals is a huge part of the process of standardized testing. Learn how to calculate a target score for the SAT based on where you plan on applying to college. If you're a junior or senior, you may be trying to decide whether or not to retake the SAT. Follow this three step process to figure out the best course of action. Want to improve your SAT score by 160 points?We've written a guide about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

China accounting standards Essay Example | Topics and Well Written Essays - 750 words

China accounting standards - Essay Example The accounting standards determine the procedure for preparation of financial statements which produces information like business revenues, expenditure, net income, assets, liabilities and the wealth of the stakeholders. Overview: Chinese Accounting standards China has its own system of accounting standards that is maintained in the land of China. The accounting standards of China are composed basic standards, specific standards and application guidance. There are thirty-eight specific standards that are followed in the Chinese accounting standards. During the socialist period, the government of China was the sole owner of the industry. The accounting standards of China are unique as it developed during the socialist regime and is tailor made to the objectives of the Chinese economy. The Chinese accounting standards are intended to focus less on the information of profit and loss. The accounting standards differ from the western accounting standards in terms of providing guideline on information on inventory of the industries. In comparison to the western accounting standards, the Chinese accounting standards are intended less towards accounting of debt of a corporation (Coulaud,  Schulz and  Debilliers, 2008). ... Moreover, the Chinese economy underwent reforms and achieved rapid progress in industrial development. This created the need of revising the accounting standards of China in order to create a competitive ground with the international accounting standards. In 2006, the government of China passed a new accounting law in joint consultation with the ministry of finance, the international accounting standards committee and the representative from the Chinese economy. With a view towards the emerging scenario of integration of international trade with the Chinese trade, the accounting standards of China adopted several standards recommended by the International accounting standards board. In order to align the information on the business performance of China through financial statements and reports and to allow a platform for comparison of the Chinese business with the top listed companies all over the world, the accounting standards of China adopted several features of the international a ccounting standards. The financial reporting procedure was replaced by the international financial reporting standards. The financial reporting criteria helped to compare the financial statements of the Chinese company with the rest of the world which added a significant feature in the era of globalization (Avery,  Zhu and  Cai, 2009). The alignment of the financial reporting standards adopted by China to the International accounting standards is about 95%. Impacts of changes in Chinese accounting standards The changes in the accounting standards of China for preparation of financial statements and accounts have created major impacts on the ways on financial accounting and generating annual reports of the Chinese companies. His has also paved the path of

E-Business Essay Example | Topics and Well Written Essays - 1250 words - 1

E-Business - Essay Example The attributes are the various properties which are highlighted in ovals and represent the various features of the system. Frawley (2001) mentions that knowledge of the business system can be derived easily by using the logical designs of the database of the organization where information is very valuable to be stored for effective and efficient retrieval. The very organization of the hotel into departments and their location are the prime factors for designing the network topology and the technologies to be used for efficient communication and sharing of information (Physinfo, 2006). Using LAN the computers are interconnected within the office or building premises so that all the employees are able to get information on demand. The head office has a central server where all the information us stored in the database. The other offices are also networked using the LAN technologies. The switch is two layered and used to take care of the storing and forwarding mechanism as stated in Tanenbaum

UNREACHED PEOPLE GROUP PROJECT ABSTRACT Assignment

UNREACHED PEOPLE GROUP PROJECT ABSTRACT - Assignment Example The modern lifestyles characterized with minimal physical social interaction are largely to blame for the lack of information on such evident topics in the public domain. This research therefore seeks to legitimize this claim by studying the missionary work in Arab countries by Brazilian missionaries. A missionary act, just like evangelism, is a means of spreading the gospel to regions considered unreachable by Christian adherents. The Arab world is largely Islamic which implies that such people have adequate knowledge on religion and arguably Christianity. However, the two have different cultures which may be a hindrance to changing their mentality into concurring with the teachings of Christianity thus influencing their refusal to change their religions. Hospitality is a virtue of religions espoused upon by Jesus Christ and enshrined in the holy books of the religion. The differing cultures of the Arabs and the Brazilian missionaries may arguably have an influence on their understanding of hospitality, which infers that the Arabic understanding if hospitality especially in relation to people ascribing to other faiths may impact their receipt of such sensational and radical information concerning a new faith. The research therefore seeks to establish the role that culture plays in understanding hospitality and how the two influences the spread of the

Presidential Powers Assignment Example | Topics and Well Written Essays - 500 words

Presidential Powers - Assignment Example President of America is the head of the state as well as the head of the government whereas in India, president is the head of the state whereas the prime minister is the head of the government. Being the head of the state and head of the government, American president enjoys a variety of powers in internal as well as external matters. Article II of the American Constitution, grants numerous powers to President of America. The power of president can be divided into two broad categories; one with respect to Domestic affairs and the other with respect to Foreign policy. This paper analyses the power of American president in through various perspectives. Type of powers of President of America â€Å"Article II of the Constitution vests the powers of the executive branch in the President of the United States and details the powers of that office†(Presidential powers, 2007). In other words, executive power is vested up on the president of America. All the governmental agencies are w orking under the president and these agencies taking instructions from the president. For example, president is the commander in chief of the armed forces in America and these forces function based on the instructions of the president.

Ethics (David Hume and Kant) Essay Example | Topics and Well Written Essays - 1750 words

Ethics (David Hume and Kant) - Essay Example Hume tries to anchor his definition of morals in human sentiments, he is seen to stray away into pure rhetoric. For example, Hume has said, â€Å"what is honourable, what is fair, what is becoming, what is noble, what is generous, takes possession of the heart, and animates us to embrace and maintain it† (4). In contrast to this he (Hume) claims that â€Å"what is intelligible, what is evident, what is probable, what is true procures only the cool assent of the understanding; and gratifying a speculative curiosity, puts an end to our researches† (4) These are not propositions supported by reason but only statements which have a subjective quality. Thus to question the role of reason, Hume is compelled to use arguments which themselves are based on reason and this could be considered as the greatest disadvantage of Hume while proving his theory. Kant adheres to an a priori moral principle based on pure reason while Hume derives his principle from a posteriori elements such as experience and observation. For Hume, virtue is created out of feelings but Cant contests this argument by saying that â€Å"in its Idea there is only one virtue; but in fact there is a multitude of virtues, made up of several different qualities†. In this manner, Kant is able to define the boundaries of his principle into a unified theory while Hume, by stressing upon experience, falls pray to a multitude of variations of virtue. Such kind of variations by which virtue as a moral value looses its very sense of purpose. To show the universality of his theory of reason, Kant has made a differentiation between a maxim and a moral law: A maxim is a subjective principle of acting, and must be distinguished from the objective principle, namely, the practical law. The former contains the practical rule determined by reason conformably with the conditio ns of the subject (often his ignorance or also his inclinations), and is therefore the principle in accordance with which the subject acts; but the law is the objective principle valid for every rational being, and the principle in accordance with which he ought to act, i.e.; an imperative (31). Here, it can be seen that what derives from Hume's theory are mere maxims which depends on the â€Å"conditions of the subject† while what Kant prescribes is beyond that. For example, if a person feels that she needs to steal because she has nothing to eat, and she is poor owing to no fault of hers, and also she sees that many others have more than what they need, then, according to Hume, her sentiment is not morally invalid. But Kant, by putting before us the universal moral principle that stealing is evil, in all circumstances, reveals a more solid ground. The danger of stealing, in this instance could be that though stealing of food by a person who has nothing to eat is somewhat ju stified, such an act may serve as a justification for more selfish and evil kinds of stealing. Here, the necessity for a universal principle rather than a maxim is very evident. It is based on a unique concept of freedom that Kant argues for a universal moral principle. For him, freedom is the ability to follow that universal moral p

Presidential Powers Assignment Example | Topics and Well Written Essays - 500 words

Presidential Powers - Assignment Example President of America is the head of the state as well as the head of the government whereas in India, president is the head of the state whereas the prime minister is the head of the government. Being the head of the state and head of the government, American president enjoys a variety of powers in internal as well as external matters. Article II of the American Constitution, grants numerous powers to President of America. The power of president can be divided into two broad categories; one with respect to Domestic affairs and the other with respect to Foreign policy. This paper analyses the power of American president in through various perspectives. Type of powers of President of America â€Å"Article II of the Constitution vests the powers of the executive branch in the President of the United States and details the powers of that office†(Presidential powers, 2007). In other words, executive power is vested up on the president of America. All the governmental agencies are w orking under the president and these agencies taking instructions from the president. For example, president is the commander in chief of the armed forces in America and these forces function based on the instructions of the president.

Postivie and Negative Effects of Televised Sports Essay

Postivie and Negative Effects of Televised Sports - Essay Example Further it has the negative effect because of the tobacco and alcohol industries promote their products through the sports channel which is viewed by large number of adolescents which may cause to start smoking and alcohol consumption at an early age. In this essay these topics are discussed in detail. Telecast of hockey or any other game generates an early awareness and interest in the sport and creates a fan base. Such broadcasting provides a learning feature for viewers. These televised sports event also endorse player profiles enabling admirers to pursue their favorite athlete’s career growths. Spectators who are fascinated and knowledgeable are admirers who are present at games and encourage an excited environment that inspires a team to play well. Televised games generate awareness and interest in the sport where spectators who may not watch a game otherwise. For example the televised Men’s hockey finals in the year 2002 created a great amount of interest and enthusiasm in Canada as there was a record braking television watching spectators of 8.6 million – US Men’s Ice Hockey final on CBC. This game was so extensively viewed and created high awareness to hockey at the global level. This curiosity in hockey offers admirers with a sense of satisfaction for the Canadian game. Over and above these young viewers will build up a craze for the sport as they gain familiarity and understanding of the game hockey. This endorses a positive game atmosphere and develops team inspiration (Mega essay com. 2007) The history of U.S. television is related to the sports. Certainly, Television took off the ground because of sports, recollect pioneering television sports director Harry Coyle. He further adds that at present, sports require television to survive, however it was just the other way round when it first started. The sales of

Cost-Quality Relationship Essay Example for Free

Cost-Quality Relationship Essay There are three types of costs when quality considerations are made: Appraisal Costs, Prevention Costs, and Failure Costs. These costs are affiliated with the efforts of process improvement and are also known as quality costs or cost of quality. Appraisal costs are associated with measuring, evaluating or auditing products and services to satisfy quality and performance requirements set by the company. Examples of this cost include inspection and testing of purchases material, final inspections, audits for products and services, and testing equipment. Prevention costs are associated with all activities designed to prevent and stop poor quality in the products and services provided to the customers. Examples of this cost include new product review, supplier surveys, capability evaluations, improvement projects, education and training. Failure costs result from products and services that did not meet the quality standards and requirements set by the company. They divided into two categories: Internal Failure Costs and External Failure Costs. Internal failure costs occur before delivery and shipment of product and/or before services are performed to the customer. Examples of this cost include scrap,  rework, retesting, re-inspecting, reviewing the material and downgrading. External failure costs occur after delivery and during or after providing the service to the customer. Examples of this cost include reviewing and processing customer complaints, customer returns, claims based on warranty, and recalls. The total quality costs are the sum of the appraisal, prevention, and failure costs. This will represent the difference between the actual costs of the product and/or service. The trade-offs between the appraisal, prevention, and failure costs are relevant. Some believe when the prevention costs are increased , the appraisal and failure costs will decrease substantially. This means that the total costs will be lower. Others say that if they spend too much on quality, it will reduce the money available for other projects such as upgrades to technology.

Takeover Mergers Acquisitions Case Study Of British Petroleum Commerce Essay

Takeover Mergers Acquisitions Case Study Of British Petroleum Commerce Essay BP is one of the largest vertically integrated oil and gas companies in the world. The companys operations primarily include the exploration and production of gas and crude oil, as well as the marketing and trading of natural gas, power, and natural gas liquids. BP has its headquarters in London, United Kingdom and employs about 80,300 people. British Petroleum, which transformed from a local oil company named Anglo Persian formed back in 1908 to a global energy group, is one of the worlds largest energy companies today, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for everyday items. BP excelled exponentially in the past century and today it employs over 80,000 people and operates in over 100 countries worldwide. On 20th April, 2010, BP came across a deep water rig explosion in the gulf of Mexico which was caused by what has been described as the worst US ecological disaster ever, wiping more than $58 billion from the companys value and causing its share price to drop down more then half compared to the value before the explosion. Many analysts are saying that this could trigger a takeover of the business by one of its big competitors such as Exxon Mobil, Shell or even Petrochina. In this report, we will discuss the factors and reasons which can result in a takeover of any company along with the very real disadvantages which a company may face if they do an acquisition, including those special to an acquisition of BP at this time. What is Merger and Acquisition stands for? The term Merger Acquisition or Takeover refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling and combining of different companies that can aid, finance, or help a growing company in a given industry grow rapidly without having to create another business entity. Takeovers and mergers are also the reason why todays corporate landscape is a maze of conglomerations. Insurance companies own breakfast cereal makers, shopping mall outlets are part of military manufacturing groups, and movie studios own airlines, all because of mergers and acquisitions. Although often used synonymously, the terms merger and acquisition mean slightly different things. Merger A merger happens when two firms agree to go forward as a single new company rather than remain separately owned and operated. It can be described as the mutually agreed decision for joint ownership between organizations. When two companies merge, the boards of directors (or the owners, if it is a privately held company) come to an agreement. The original companies cease to exist, and a new company forms, combining the personnel and assets of the merging companies. Like any business deal, this can be straightforward, or incredibly complex. The key is that both companies have agreed to the merge. Acquisition When one company takes over another and clearly establishes itself as the new owner, the purchase is called an acquisition. From a legal point of view, the target company ceases to exist, the buyer swallows the business and the buyers stock continues to be traded. Hostile Takeover: A hostile takeover is an acquisition in which the company being purchased doesnt want to be purchased, or doesnt want to be purchased by the particular buyer that is making a bid. The buyer has to gain control of the target company and force them to agree to the sale. Both acquisitions and mergers typically involve the managers of one organization exerting strategic influence over the other. Reasons for a Takeover There are different reasons for developing through a takeover activity. The primary reason being that acquiring firms seek improved financial performance. Another major reason is the need to keep up with the changing environment and to gain opportunities of market growth more quickly than through internal means. Following gives a brief account for the conventional reasons of a takeover. Speed of Entry Speed of entry is one of the reasons for a takeover because products and markets nowadays are changing so rapidly that acquisition becomes the only way to successfully enter a market, since the process of internal development is too slow and when speed is important, acquisition is more likely to be used. Most acquisitions are consummated relatively quickly, whereas internal development of new products or services normally takes many months or years. Acquisition may allow the acquiring firm to realize revenue earlier, achieve economies faster, and capture a greater market share. When entry occurs through internal development, a decade or more is often required to fine-tune the business to achieve the profitability of established competitors Economies of Scale Economies of scale is an economic term describing a business model where the long-run average cost curve declines as production increases, or in a simple example explaining the principal, where a manufacturing company saves money as it produces higher quantities of its product, as in all business areas, the more you buy, the more you save. Economies of scale is a long run concept and refers to reductions in unit cost as the size of a facility and the usage levels of other inputs increase. This refers to the fact that the company after takeover can often reduce its fixed costs by removing duplicate departments or operations, lowering the costs of the company relative to the same revenue stream, thus increasing profit margins. An example is that of a private soft drinks manufacturer. The more orders that the manufacturer receives, the more savings it makes, as it will in turn get cheaper prices for the materials it needs to produce its drinks (e.g. plastic, aluminium, sugar) as it will be buying them in larger quantities and receiving discounts, the manufacturing company in turn would give its customers cheaper prices for the more orders for drinks they make for this very reason, as they will gain the discounts, they can pass a saving onto their customers, making themselves stronger, a more respected company from its suppliers as it is buying in higher volumes and its turnover becomes higher. All these factors contribute to the benefits of economies of scale.. Why Economies of Scale Happen: An In Depth Look Corporations incur fixed costs when buying heavy machinery, buildings, or other large purchases. A fixed cost is called fixed because when production increases in the short run, new buildings and machines are not immediately needed. Because fixed costs are not tied to production, firms have an incentive to produce as much as possible (assuming they can sell their product). Intuitively, a large factory should produce a large number of units to minimize its fixed cost per unit. Say that an automobile factory costs 1 million dollars. If it only produces 1000 cars, then its Fixed Cost Per Unit is 1 million dollars divided by 1000 cars, or $1000/Car. If the factory produces 8000 cars, however, its Fixed Cost Per Unit is 1 million dollars divided by 8000 cars, or $125 per car. By producing 7000 more cars, the firm gets an 88% fixed cost reduction per car. This graph illustrates that increased production reduces fixed costs per unit. Figure 1 With fewer fixed costs per unit, firms can afford to lower per unit prices. If fixed costs are very significant to a particular firms industry, then firms who mass produce efficiently can cut costs, extract revenues, lower prices, and therefore capture market share. Higher market share and higher revenues mean more money to spend on machinery, and expand the firm. This in turn allows further cost cutting, higher production, and the development of better products. In the long run, firms which effectively mass produce take over industries dominated by high fixed costs. Figure 2 Financial markets Financial markets may provide conditions that motivate acquisitions. If the share value or price/earnings (P/E) ratio of a company is high, it may see the opportunity to acquire a firm with a low share value or P/E ratio. Indeed, this is a major stimulus for the more opportunistic acquisitive companies. An extreme example is asset stripping, where the main motive is short-term gain by buying up undervalued assets and disposing of them piecemeal. Eliminating Competition A buyer company, when absorbs a major competitor, eliminates the major competition and thus increases it revenue or market share. This motive of takeover comes into play when companies want to increase their market power which results in an increased share value and overall monopoly. Synergy Synergy is the potential additional value from combining two firms. It is probably the most widely used and misused rationale for takeovers. Operating Synergy Operating synergies are those synergies that allow firms to increase their operating income, increase growth or both. Operational synergy is deemed to be the main motive of the takeover when the bidder takes over a target in the same industry. We would categorize operating synergies into four types. 1.  Ã‚  Ã‚  Ã‚   Economies of scale that may arise from the takeover, allowing the combined firm to become more cost-efficient and profitable. 2.  Ã‚  Ã‚  Ã‚   Greater pricing power from reduced competition and higher market share, which should result in higher margins and operating income. 3.  Ã‚  Ã‚  Ã‚   Combination of different functional strengths, as would be the case when a firm with strong marketing skills acquires a firm with a good product line. 4.  Ã‚  Ã‚  Ã‚   Higher growth in new or existing markets, arising from the combination of the two firms. This would be case when a UK consumer products firm acquires an emerging market firm, with an established distribution network and brand name recognition, and uses these strengths to increase sales of its products. Operating synergies can affect margins and growth, and through these the value of the firms involved in the takeover. Financial Synergy With financial synergies, the payoff can take the form of either higher cash flows or a lower cost of capital (discount rate). Included are the following. 1. A combination of a firm with excess cash, (and limited project opportunities) and a firm with high-return projects (and limited cash) can yield a payoff in terms of higher value for the combined firm. The increase in value comes from the projects that were taken with the excess cash that otherwise would not have been taken. This synergy is likely to show up most often when large firms acquire smaller firms, or when publicly traded firms acquire private businesses. 2.  Ã‚  Ã‚  Ã‚  Ã‚   Debt capacity can increase, because when two firms combine, their earnings and cash flows may become more stable and predictable. This, in turn, allows them to borrow more than they could have as individual entities, which creates a tax benefit for the combined firm. This tax benefit can take the form of either higher cash flows or a lower cost of capital for the combined firm. 3.  Ã‚  Ã‚  Ã‚  Ã‚   Tax benefits can arise either from the acquisition taking advantage of tax laws or from the use of net operating losses to shelter income. Thus, a profitable firm that acquires a money-losing firm may be able to use the net operating losses of the latter to reduce its tax burden. Alternatively, a firm that is able to increase its depreciation charges after an acquisition will save in taxes and increase its value. Diversification Companies takeover different product line companies to diversify their product or service range and to protect themselves against downturns in the core markets. This calls for a very well thought and specific policy keeping in mind the future steps and goals of a company. Moreover, can really help if there is a downfall in the core market and company shares of a particular product. Disadvantages of a Takeover The reasons for takeover are kept under account while targeting a company, but calculating the disadvantages associated with it are analysed with more precision and taking all situations under consideration. Companies mostly come up with the following disadvantages while acquiring other companies Costs of mergers and acquisitions Mergers and acquisitions can be costly due to the high legal expenses, and the cost of acquiring a new company that may not be profitable in the short run. This is why a merger or acquisition may be more of strategic corporate decision than a tactical maneuver. Moreover, if a poison pill unknowingly emerges after a sudden acquisition of another companys shares, this could render the acquisition approach very expensive and/or redundant. à ¢Ã¢â€š ¬Ã‚ ¢ Legal expenses à ¢Ã¢â€š ¬Ã‚ ¢ Short-term opportunity cost à ¢Ã¢â€š ¬Ã‚ ¢ Cost of takeover à ¢Ã¢â€š ¬Ã‚ ¢ Potential devaluation of equity à ¢Ã¢â€š ¬Ã‚ ¢ Intangible costs MA activity can also be exacerbated by the short-term cost of opportunity or opportunity cost. This is the cost incurred when the same amount of investment could be placed elsewhere for a higher financial return. Sometimes this cost does not prevent or deter the acquisition because projected long-term financial benefits outweigh that of the short-term cost. Consumer and shareholder drawbacks In some cases, acquisitions may not only disadvantage the shareholders but consumers as well. In both cases, this may happen when the newly formed company becomes a large oligopoly or monopoly. Moreover, when higher pricing power emerges from reduced competition, consumers may be financially disadvantaged. Some of the potential disadvantages facing consumers in regard to mergers are the following. à ¢Ã¢â€š ¬Ã‚ ¢ Increase in cost to consumers à ¢Ã¢â€š ¬Ã‚ ¢ Decreased corporate performance and/or services à ¢Ã¢â€š ¬Ã‚ ¢ Potentially lowered industry innovation à ¢Ã¢â€š ¬Ã‚ ¢ Suppression of competing businesses à ¢Ã¢â€š ¬Ã‚ ¢ Decline in equity pricing and investment value Shareholders may also be disadvantaged by corporate leadership if it becomes too content or complacent with its market positioning. In other words, when takeover activity reduces industry competition and produces a powerful and influential corporate entity, that company may suffer from non-competitive stimulus and lowered share prices. Lower share prices and equity valuations may also arise from the merger itself being a short-term disadvantage to the company. Effects on management A study published in the July/August 2008 issue of the Journal of Business Strategy suggests that mergers and acquisitions destroy leadership continuity in target companies top management teams for at least a decade following a deal. The study found that target companies lose 21 percent of their executives each year for at least 10 years following an acquisition more than double the turnover experienced in non-merged firms. If the businesses of the acquired and acquiring companies overlap, then such turnover is to be expected; in other words, there can only be one CEO, CFO, etc at a time. Wages Settlement This could also be a problem if the acquiring company gives less wages to its employees then the acquired company. This may result in overpaying the new employees of acquired company or increasing the wages of its previous employees. This can really unsettle the budget and administration of the company. REASONS AND DISADVANTAGES OF TAKING OVER BRITISH PETROLEUM The idea of BP being taken over by anyone would have sounded crazy before the gulf of Mexico disaster, but it is now becoming commonplace to suggest that the UK oil major might even fall into the hands of rivals like Exxon Mobil, Shell or even Petrochina. The about turn has been extraordinary. Before its money and reputation began bleeding away in the Gulf of Mexico, the oil giant was considered the safest of blue chip companies, because its debts were so low and its income so high. BPs failure to stop an oil leak from spewing millions of gallons of crude into the Gulf of Mexico may leave the biggest oil and gas producer in the U.S. in a fight to stay independent. BP Facts Clean-up: Cost to date: $3.1bn approx Escrow account promise: $20bn Shares: Share price on 20 April (before leak began): 656p Share price lowest point (on 25 June): 296p (55% fall) 2009 profits:  £10bn 2010 dividend:  £1.8bn in Q1; Q2-4 cancelled, saving  £5.4bn Debt: Total debts:  £17bn, of which  £4.9 due by end-2011 2009 cashflow:  £21bn Credit ratings: A2/A (Moodys/SP) Credit default swap spread (5 years): 4.1% per annum Strategic investors: Market capitalisation:  £65bn (at 345p current share price) Kuwait shareholding: 1.75% China shareholding: 1.1% (Data: Bloomberg as of 6 July 2010) Reasons for Takeover In addition to being the largest oil and gas producer in the U.S, BP is the biggest operator in the Gulf of Mexico, where it holds more than 500 leases and pumps 450,000 barrels of oil a day. The company plans 10 projects in the Gulf during the next five years, more than other regions of the world, according to a BP presentation. A takeover of BP will result in the acquisition of all these projects ultimately increasing the growth of the acquiring company. A takeover by Anglo-Dutch shell looks likely because synergies of $9bn had been estimated by former BP chief Lord Browne and it is revealed that merger of these companies were tried before in 1995 and 2004. These synergies will give the combined company the power to take advantage from economies of scale and great pricing power. If Exxon Mobil acquires BP that would be a combination of the first and second biggest gas producers in the US which will result in the monopoly of the whole oil market in the hands of the acquirer. If this happens, the joined company can dictate the stock market and gain other advantages as well. Chinese oil giant Petrochina which is not a major oil producer but an avid consumer of oil can divert scarce oil supplies of BP towards china to satisfy its needs rather than those of the west. This will not only give Petrochina access to BPs international oil and gas reserves, but also the expertise and latest technology which will result in higher value and growth of the combined company. The takeover will eliminate a fierce competition between the oil giants of the world as the acquiring company will absorb a major competitor in the form of BP. Thus increasing overall market power and share value. Disadvantages The huge and indeterminate cost of the oil spill cleanup, as well as damages, fines and compensation analysts forecast of the cash cost to BP have ranged up to about $40 bn, could spiral into tens of billions. Political Effects Technically any of Exxon Mobil, Shell or Petrochina can afford to buy BP, but in an industry which is already fraught with regulatory and political risk, it is a difficult to cope up with all the arising situations. There is already a statutory limit under US law for oil spill costs of a mere $75m, but BP long ago waived this limit, as hiding behind it would have been politically untenable. The oil firm could take more active steps to limit its liability, for instance through a selective bankruptcy of its US business. But this would almost certainly be unpalatable to the companys board, as it would enrage US politicians, including President Barack Obama, and probably cut off the entire US market to BP. So the political reality is that BPs liability in the Gulf of Mexico remains unlimited, and this continues to weigh down the companys share price. A takeover of BP in such a scenario will result in an unlimited liability for the acquiring company. Moreover, it may probably cutoff from the U.S market where BP is the biggest oil and gas provider. Environmental Effects The environmental threats after Mexico oil spills are still in account and acquiring companies will feel the effects of it for a long time. The cost of oil cleanup is indeterminate and in case of an acquisition, those cleanups and its effects will become the liability of the acquiring company and if they fail to clear them in a particular set of time, then the acquired company can feel the heat as well. Legal Effects The damages, fines and compensation forecasts of the spill are very unclear and there is no exact account of the litigations which BP will face. BP has crossed the $368 million mark till now in paying companies and individuals as a result of after-effects of the oil spill. Still there is a long way to go and no one wants to pay an unquantifiable liability. Other Disadvantages If Shell makes a move, then it will ace serious competition issues that would force divestments in Europe and the US. A combined company will be very difficult to manage and to sustain growth. Petrochina will be in a risk of overpaying the employees of BP as labour is cheap in Chinese companies and this could really effect the management and workforce from top to bottom. In case of Exxon Mobil, Most combinations of assets would have to be downsized for competition reasons. The overlapping management will lose their jobs and the old management will have to fit in the shoes of the BP management and become familiar with their systems and ways which will take time and incur cost. The costs of oil projects are set to soar as governments insist on tougher environmental safety standards in the wake of the spill. Already the Kazakhstan energy ministry has forced Shell to tighten up plans at its Kashagan development, meaning that the current $136bn budget dedicated for the project is likely to be busted. The result could be that smaller companies, that dont have market values in excess of $100bn might pull out of deep-water activities. Only the big boys of the industry would remain in the waters. Conclusion There are many likely motives to takeover BP but it carries a lot of dips and drops. If a buyer does try to overcome all these enormous hurdles, it would still need to agree a deal. At the moment, there is no sign of BP to surrender. Takeover talks are likely to keep swirling, but the chances are that BP will emerge with its independence intact.

The Daily Life in a Civil War Camp :: essays research papers

Officers in the field lived much better than enlisted men. They generally assigned one or two officers to a tent. Since they provided their own personal gear, items varied greatly and reflected individual taste. Each junior officer was allowed one trunk of personal belongings that was carried in one of the baggage wagons. Higher-ranking officers were allowed more baggage. Unlike infantrymen, who slept and sat on whatever nature provided, officers sometimes had the luxury of furniture. Enlisted men, unlike their officers, had to carry all their belongings on their back. On long marches men were unwilling to carry more than the absolute essentials. Even so, soldiers ended up carrying about 30 to 40 pounds. Each soldier was issued half of a tent. It was designed to join with another soldier's half to make a full size tent. The odd man lost out. When suitable wooden poles were not available for tent supports, soldiers would sometimes use their weapons. Soldiers endured the daily round of roll calls, meals, drills, inspections, and fatigue duties. Throughout this tedious and seemingly endless routine, it was often the personal necessities sent or brought from home, or purchased from sutlers (licensed provisioners to the army) that made camp life tolerable. Many of these items were used for personal hygiene, grooming, and keeping uniforms in repair. Today these diminutive legacies provide us with a very personal and tangible connection to the soldiers of the Civil War. Confederate and Union soldiers added various clothing and equipment to their military issue . To make their life more tolerable, they brought various personal items to camp or were given them by family and friends. Few soldiers owned all the items in this exhibit, although most had at least some of them. A variety of personal items were used by Civil War soldiers. Confederate and Union soldiers often wore civilian-style underwear that they provided themselves. Officers and wealthy individuals frequently wore linen undergarments purchased from commercial houses. Junior officers and enlisted men, on the other hand, usually wore military issued cotton and wool garments. Confederate "haversacks" were used to carry food rations. These bags were typically made of linen and lacked the waterproofing found on Union counterparts. Personal effects grew in number during long encampments and were reduced to a minimum during long marches and battles. Items would generally be boxed and stored in military bases or shipped to quartermaster storehouses to be held until the campaigning season was over.

Moral Relativism Essay

Moral relativism is the view that moral judgments are true or false only relative to some particular standpoint; for instance, that of a culture or a historical period, and that no standpoint is uniquely privileged over all others. It has often been associated with other claims about morality: notably, the thesis that different cultures often exhibit radically different moral values; the denial that there are universal moral values shared by every human society; and the insistence that we should refrain from passing moral judgments on beliefs and practices characteristic of cultures other than our own. Historical Background Even though moral relativism did not become a prominent topic in philosophy or elsewhere until the twentieth century, it has ancient origins. In the classical Greek world, both the historian Herodotus and the sophist Protagoras appeared to endorse some form of relativism the latter attracted the attention of Plato in the Theaetetus. It should also be noted that the ancient Chinese philosopher Zhuangzi (read as Chuang-Tzu) put forward a non-objectivist view that is sometimes interpreted as a kind of relativism. Among the ancient Greek philosophers, most people consider the ideas of Plato but I will explain about the ideas of historian Herodotus, because I found his arguments to be interesting and what we call thinking out of the box. The historian Herodotus tells the story of how the Persian king Darius asked some Greeks at his court if there was any price for which they would be willing to eat their dead father’s bodies the way the Callatiae did. The Greeks said nothing could induce them to do this. Darius then asked some Callatiae who were present if they would ever consider burning their fathers’ bodies, as was the custom among Greeks. The Callatiae were horrified at the suggestion. Herodotus sees this story as vindicating the poet Pindar’s dictum that â€Å"custom is lord of all†; people’s beliefs and practices are shaped by custom, and they typically assume that their own ways are the best. Herodotus’ anecdote is not an isolated moment of reflection on cultural diversity and the conventional basis for morality. In the early days, moral relativism was a concern of philosophy only but in modern times it began to shift into the concern of anthropology, and there was a need for somewhat a link or common ground between these two. An important early bridge from anthropology to philosophy was established by Edward Westermarck, a social scientist who wrote anthropological and philosophical works defending forms of empirical as well as meta-ethical moral relativism. He also ranks as one of the first to formulate a detailed theory of moral relativism. In the modern era the main push for such a position came from cultural anthropology. Anthropologists were fascinated with the diversity of cultures, and they produced detailed empirical studies of them. Early on anthropologists accepted the assumption of European or Western superiority. But this was challenged by the ideas of Franz Boas, Ruth Benedict, Melville J. Herskovits, and Margaret Mead all of which clearly expressed important forms of moral relativism in the twentieth century. The various views of Moral Relativism Defining moral relativism is difficult because different fields and also writers use the term in slightly different ways; in particular, supporters and antagonists of relativism often diverge considerably in their characterization of it. Therefore, it is important to first distinguish between some of the positions that have been identified or closely associated with moral relativism before setting out a definition that captures the main idea its adherents seek to put forward. a.Descriptive Moral Relativism Descriptive moral relativism is a theory about cultural diversity. It holds that, as a matter of fact, moral beliefs and practices vary between cultures and sometimes between groups within a single society. For instance, some societies condemn homosexuality, others accept it; in some cultures a student who corrects a teacher would be thought disrespectful; elsewhere such behavior might be encouraged. This particular view of moral relativism suggests that there are many different moral standards for moral judgments and we should just accept this differences. It denies that there are any moral universals, norms or values that every human culture accepts. None the less descriptive moral relativism only explains about the difference that exists, it does not tell us how we should base our judgments on these differences and does not necessarily support the tolerance of all behavior in light of such disagreement. b.Meta-ethical Moral Relativism Meta-ethical moral relativism holds that moral judgments are not true or false in any absolute sense, but only relative to particular standpoints. This theory first states that people disagree about moral issues and it also adds that terms such as â€Å"good,† â€Å"bad,† â€Å"right† and â€Å"wrong† do not stand as universal truth, rather they are relative to the traditions, convictions, or practices of an individual or a group of people. Some meta-ethical moral relativists focus more on the justification of moral judgments rather than on their truth. They focus on how the moral judgments are made and to what cause. For example, most people would agree that lying in court to avoid a fine is wrong, while lying to a madman to protect his intended victim is justified. Saying that the truth of a moral claim is relative to some standpoint should not be confused with the idea that it is relative to the situation in which it is made. c.Normative Moral Relativism Normative moral relativism is the view that it is wrong to judge or interfere with the moral beliefs and practices of cultures that operate with a different moral framework to one’s own, that what goes on in a society should only be judged by the norms of that society. The motive behind it is to avoid arrogance and promote tolerance. Normative moral relativists can also argue that judging other cultures is misguided since there are no trans-cultural criteria to which one can refer in order to justify one’s judgment. Normative moral relativism is mostly considered as an additional idea to that of meta-ethical relativism. However, what makes this view standout on its own is its stances on tolerance. Let us see these statements â€Å"we think it is moral to tolerate behavior† and â€Å"other people think intolerance of certain behaviors is moral.† Philosopher Russell Blackford says,† We need not adopt a quietism about moral traditions that cause hardship and suffering. Nor need we passively accept the moral norms of our own respective societies, to the extent that they are ineffective or counterproductive or simply unnecessary.† So according to normative moral relativists it is perfectly reasonable for a person or group to defend their subjective values against others, even if there is no universal instruction on morality and we can also criticize other cultures for failing to follow even their own goals effectively. Pros and Cons of Moral Relativism One of the main advantaged of moral relativism is giving response to the perceived problems with moral objectivism. Moral objectivism is a concept advocating the necessity of a universal or some common standpoint for view and evaluating all moral issues, since this non-existent, according to moral objectivism there would have been a major blockade. Never the less thanks to moral relativism which states such standpoint is not necessary, because each situation or moral issue is judged according to its own context. The other clear benefit of moral relativism is that it promotes tolerance. As you all know the world has a never ending conflict of ideas, though most of this are simple ones which can be dealt with a little compromise, some are quite serious which there is simply no way for agreement. These ones call for a more developed and acceptable solution that is tolerance. If it wasn’t for tolerance quarrel, fights, dispute and even war would be a day-to-day scene. Unfortunately like all human spawned ideas, moral relativism is not without flows. Moral relativist exaggerate cultural diversity; this is mostly directed against descriptive moral relativism. Every human culture has some sort of moral code, and these overlap to a considerable extent. There is a common core of shared values such as trustworthiness, friendship, and courage, along with certain prohibitions, such as those against murder or incest. Some version of the golden rule—treat others as you would have them treat you—is also encountered in almost every society. The existence of these universal values is easy to explain as they enable societies to flourish, and their absence would jeopardize a society’s chances of survival. Moral relativism undermines the possibility of a society being self-critical. Based on the definition of moral relativism we must judge every action in reference to its context. But if the rightness or wrongness of actions, practices, or institutions can only be judged by reference to the norms of the culture in which they are found, then how can members of that society criticize those norms on moral grounds? This dilemma make moral relativism a main means of bias for self-criticism; as a result, resistance to change. Conclusion To sum up moral relativism should be taken as a useful tool although it has many criticisms. I think it is a purely advantageous idea, and the criticisms come from extremists who take each and every proposition to its furthest practicality to make seem faulty. If we were able to overlook this small defects it is my strong belief, we would finally end the long lasting quest for an all-encompassing and universally justifiable standard for evaluating moral issues.

John Glover, Russel Drysdale, Lauren Berkowitz & Barbara Reid

Throughout history the unique and changeable Australian landscape has inspired a diverse array of artistic responses. Impressios of its power and beauty, expressions of individuals' responses, symbolic religious orientation, the range of landscape art works extends onwards. A great example of the vast variations of styles can be seen in the artworks of Glover, Drysdale, Berkowitz and Reid. John Glover Constitution Hill at sunset Van Dieman's Land, from near Mrs Ranson's Public House, June 29th 1840. Oil on canvas, 76. 8 ? 114. 9 cm. H31203. La Trobe Picture Collection. John Glover, artist. Birth: 18 February 1767, Houghton-on-the-Hill, Leicestershire, England Death: 9 December 1849, Van Diemen's Land (Tasmania), Australia. â€Å"He accepts the emptiness that dominates the Australian bush, and this was a huge change from Lorrain,† Hansen says. â€Å"He was the first great Australian painter of emptiness, a theme that obsesses painters to this day. † (www. theage. com. au/articles. ) John Glover was an early colonialist painter and was one of the pioneers of an Australian landscape painting. He was an acclaimed landscape painter in England and France, however he was never seen as an artist who ‘pushed the boundaries'. This changed when he moved to Tasmania in 1831, age 64. He saw the Australia landscape with new eyes and was keen to become the next ‘English Claude'. Thus many have dubbed him ‘The father of Australian landscape painting’. The impressionistic painting â€Å"Constitutional Hill at sunset† is perhaps one of Glover most renowned. While he was initially criticised for not paying close enough attention to the ‘local characteristics', he did find an individuality in his work through the landscape and atmosphere of Tasmania. His depiction of the Tasmanian light is bright and clear and his gum trees are very convincing, with their stalky form and sparse and scraggly foliage. However the strong influence of romantic artists Claude Lorraine and Gaspard Poussin lingers in his work. Hence Glover’s work has a very European flavour. It is also very picturesque and has an air of a peaceful Utopian land. This romantic, pictorial and esthetically pleasing style of painting has striking differences to the artistic techniques used by Russell Drysdale, Lauren Berkowitz and Barbara Reid Napangarti. Russell Drysdale Red landscape (1945) Vaucluse, Sydney, oil on composition board, 51. 9 x 67. 0 cm, inscribed in black paint: Russell Drysdale Mr and Mrs Rupert Murdoch Birth: 1912, Bognor Regis, England Dearth: 1981, S ydney, Australia Russel Drysdale moved from England to Australia when he was only eleven years old. Throughout his lifetime he travelled extensively however his artistic focus remained on outback rural Australia. Because he spent the majority of his life in Australia his paintings show minimal European influence. This in itself creates a great contrast between Glover and Drysdale. Another significant difference is that Glovers paintings are impressionistic while Drysdale's artworks are expressionistic. This expressionist style broke away from the tradition Australian landscape art practices present in his era. Unlike Glover, Drysdale preferred to work form from sketches, photographs and his memory when composing. When Drysdale worked on his paintings he worked hard, however it would quite often be a long and agonising experience. He was the first artist to investigate the desert and rural outback-Australian life for a prolonged period of time. This intensive exploration gave rise to the central themes of many of his artworks. Some of these themes included the issue of alienation of indigenous people, isolation of rural life, multiculturalism and national identity. The ‘Red landscape’ is a perfect example of these themes. It shows the landscape surrounding Mount Olga in the Northern Territory. The dead twisted tree trunks, and extremely vivid colours express a strong mood of isolation and desertion. Although the artwork is not as realistically precise as Glovers ‘Constitutional Hill at sunset’, it manages to express the true essences of the Australia desert. There is a house and washing blowing in the wind but there is no presence of human being, or anything living for that matter. This gives a bleak, depressing feeling. Lauren Berkowitz Strata, 1999, sand and gravel, 14 x 7m Mc Clelland Gallery, Victoria Photo: John Gollings Birth: 1965, Melbourne – Lauren Berkowitz is a contemporary installation artist. Installation art can be described as a three-dimensional painting, sculpture, poem, and prose work, which is usually transient and site-specific. This very modern art practise makes Berkowitz’s expression of Australian landscape is completely different to the previous two artists, Glover and Drysdale. Her work is made with an almost obsessive attention to detail after painstaking research and, ultimately, total dedication to the moment of making. Similarly both Glover and Drysdale were very focused and particular about their artworks. Unlike Glover and Drysdale, Berkowitz does not use paint at all, nor does she depict the landscape realistically. Instead she collects materials and items from the specific environment and creates a symbolic sculpture. Often they evoke complex thoughts, longings, and moods and have multiple meanings. Her works usually revolve around the themes of land degradation, environmental disasters and the human impact on the land. We can see these themes displayed in the artwork ‘Strata’, which gives a give a compelling moral message of our obligation and responsibility to the earth and its sustainability. One can also draw many parallels between this artwork and Aboriginal artwork. For example like indigenous art Strata is based around symbolism. Also the earthy colours depicted are very similar to that of indigenous desert artworks and, like traditional Australia tribal artists, Berkowitz is not interested in constructing lasting monuments but rather temporary works that can be returned to the landscape. Although it is not as extreme in Drysdale’s work, one can also draw parallels between his use symbolism and Berkowitz. WOMAN'S HEALING CEREMONY Medium: Acrylic on Belgian linen. Image Size: 120 x 75 cm- illustrated Australian Encyclopedia Aboriginal Artists, page 256, Barbara Reid Napangarti (B. 1962-) Barbara Reid Napangarti Barabara Reid Napangarhi was born in Tjukurla, in Western Australia. She belongs to the Pintupi tribe and is the daughter of the world-renowned artist Nigura Napurrula. Ried paints important cultural stories of women's dreaming associated with her region. The paintings explore the unique desert country of her homeland. Although Drysdale focused on a similar landscape they both portrayed the barren area in two very different ways. This is because Reid has a completely different art practice to Drysdale and Glover. However she does share some similarities with Berkowitz. For example they both use symbols, lines and patterns to show the Australian landscape. The painting titled â€Å"Woman's Healing ceremony† depicts the ceremonial site of the healing ceremony in her homeland Tjukurla. Like all her paintings it carries a deep spiritual meaning. This is what differentiates her work form the three earlier artists. Glover simply gives an impression of the beautiful landscape around him, Drysdale gives a more expressionistic depiction of the Australian landscape and Berkowitz gives a symbolic personal message about the Australian landscape. Reid however includes the landscape into her dreamtime stories through symbolism that is common to her people.

Porfirio Diaz’s leadership tactics Essay

†¢ Diaz was able to manipulate other politicians as well as his surrounding leaders. He created great relationships with regional leaders, reminding them that the growth of Mexico’s economy would also create economic growth for them. [1] †¢ Diaz created peace among the Catholic Church supporters, and opponents. Diaz enforced new laws, reforming church privileges. [2] †¢ In order to boost the economy, Diaz looked to foreign investment. He gave tax breaks for international investors, used foreign capital to pay for infrastructure, and always encouraged trade with other countries (i.e Britain, United States, Germany, etc.). [3] †¢ To maintain political power and approval, Diaz regularly jailed those who spoke out against him or his policies, resulting in many editors and writers being imprisoned and opposing leaders â€Å"disappearing†. [4] Porfirio Diaz’s Presidential Terms †¢ Diaz served as president first in 1876, though the public realized his love of power, and elected a new president, Gonzalez, after Diaz’s first term. After a term of Gonzalez, Diaz then reclaimed presidency, and stayed in power from 1884 to 1910, a grand total of 30 years. [5] †¢ Diaz eventually lost power in 1911, after several public uproars and criticism’s about Diaz came forth, and the Maderistas took up arms against him. Soon, a revolution at the battle of Casas Grandes, took place, defeating Porfirio Diaz. [6] Juan Manuel de Rosas accomplishments †¢ Rosas walked into a politically unstable, Argentina. To fix this, Rosas believed in a greater amount of power for the governor. Through doing so, Rosas became a tyrant like leader, similar to Diaz. [7] †¢ During his reign, Rosas increased exported beef and hides, ended the ongoing civil wars, obtained much more land, and declined foreign debts. [8] Leadership Style of Rosas †¢ Rosas was extremely oppressive, not always being sympathetic or thoughtful, often showing no mercy to those whom he though betrayed him. [9] Analysis The Caudillos Juan Manuel de Rosas and Porfirio Diaz are two extremely powerful men in Latin American history, each changing different things about their country in different ways. However, one thing is consistent when analyzing both; they were masters of political power and maintained it better than most leaders. The rise and preservation of power does not come from simple charisma or character. Each leader devised strong strategies and processes, ensuring them the necessary support to rule a country for such an amount of time. After first being elected president in 1876, then losing his position to Gonzales, Diaz then reclaimed the presidency from 1184 to 1910, meaning he remained in power for a total of 30 years. [10] Diaz did this by manipulating others around him, including other authorities as well as the public. Those who did not agree with Diaz or spoke out were punished. Many were imprisoned or found disappearing[11]. Aside from the public, Diaz also took care of threatening opposing authorities by creating great relationships with regional leaders.[12] These relations, military power, and strive for strength created the everlasting regime of Porfirio Diaz. Like Diaz, Juan Manuel de Rosas grew to be extremely powerful during his country of Argentina’s, time of need. Again, being similar with Diaz, Rosas, while powerful, was also oppressive, as many Caudillos of the time soon became. Through a letter written by a citizen to Juan Manuel de Rosas, in which the man pleads for his daughter’s safety, Rosas is unmoved by the article and executes the daughter.[13] This is a prime example of the leader ship style of Rosa. Though, it does raise the question that if he was so oppressive and powerful, why was he in office for so long? When Rosas arrived in Argentina, political chaos was obvious. In order to ensure stability, Rosas implemented many changes in the government, including giving more power to the governor, which in turn, saved Rosas job for the future, allowing him to become a tyrant like leader.[14] Both of these Caudillos illustrate human’s crave for power, and the manipulation, deception, and devilish processes that can be used to maintain this power. We can see both of these men as great leaders, as they thoroughly accomplished what they decided was best. We can also see them as great lessons, teaching us of the dangers of leadership and the risks it often involves. Conclusion The view of past and present Caudillos will consistently change with the person the view is from. However, one thing is clear. Juan Manuel de Rosas and Porfirio Diaz were two Caudillos of political excellence, maintaining a long and influential regime. This was accomplished by both, through their personal triumphs over the previous government of their nation as well as a triumph over threatening authorities around and within the nation, such as Diaz regularly jailing those who spoke out against him or his policies. Rosas and Diaz both knew what they wanted and had valid processes in accomplishing this; though the moral values of their actions are up to discussion. This situation is common throughout history, including skilled leaders such as Hitler, Stalin, and Castro. Juan Manuel de Rosas and Porfirio Diaz display patterns of the past and expectations of the future.

Great Hyperinflations in World History Term Paper

Great Hyperinflations in World History - Term Paper Example Center of discussion in this paper is hyperinflation as a rate of inflation per month that exceeds 50 percent. Episodes of hyperinflations are rare and they do not take â€Å"when money has been commodity-based or when paper money has been convertible into a commodity†. There have been 30 hyperinflations in history. The 30th hyperinflation was supposedly in 2008 in Zimbabwe. The first hyperinflation happened during the French revolution of 1789-96. For Hanke, the most well-known hyperinflation of the 20th century was â€Å"the great German hyperinflation of the 1920s, when the monthly inflation rate peaked approximately 30,000% in October 1923.† Meanwhile, Hanke reported that â€Å"the two most virulent hyperinflations recorded---Hungary (1945-46) and Yugoslavia (1992-924) ---curiously remain little known.† Hanke hypothesized that little is known about the two inflations probably because â€Å"the peak monthly inflation rates were so high as to be incomprehensib le.† According to Hanke, the highest one-day inflation ever recorded was in Hungary in July 10, 1946 when it was 348.46%. Under the Slobodan rule of Milosevic, Yugoslavia recorded the second highest monthly inflation at 313 million percent in January 1994.The hyperinflation which has the reputation of producing the month with the highest inflation was in Hungary in July 1946 but Hanke did not provide the inflation data. In 1988, Morales (1988) reported that the Bolivian hyperinflation of 1984-86 was the only case hyperinflation not associated with a world or civil war. ... Great Inflation of History I. Introduction According to Hanke (2008a, p. 2), hyperinflation is â€Å"defined as a rate of inflation per month that exceeds 50 percent.† Episodes of hyperinflations are rare and they do not take â€Å"when money has been commodity-based or when paper money has been convertible into a commodity† (Hanke, 2008b).There have been 30 hyperinflations in history (Hanke, 2008a). The 30th hyperinflation was supposedly in 2008 in Zimbabwe. The first hyperinflation happened during the French revolution of 1789-96 (Hanke, 2008b). For Hanke (2008b, p. 187), the most well-known hyperinflation of the 20th century was â€Å"the great German hyperinflation of the 1920s, when the monthly inflation rate peaked approximately 30,000% in October 1923.† Meanwhile, Hanke (2008b, p. 186) reported that â€Å"the two most virulent hyperinflations recorded---Hungary (1945-46) and Yugoslavia (1992-924) ---curiously remain little known.† Hanke (2008b, p. 1 86) hypothesized that little is known about the two inflations probably because â€Å"the peak monthly inflation rates were so high as to be incomprehensible.† According to Hanke (2008b), the highest one-day inflation ever recorded was in Hungary in July 10, 1946 when it was 348.46%. Under the Slobodan rule of Milosevic, Yugoslavia recorded the second highest monthly inflation at 313 million percent in January 1994 (Hanke, 2008b).The hyperinflation which has the reputation of producing the month with the highest inflation was in Hungary in July 1946 but Hanke (2008b) did not provide the inflation data. In 1988, Morales (1988) reported that the Bolivian hyperinflation of 1984-86 was the only case hyperinflation not associated with a world or civil war. However,