Land Acquisition

* FDI will lead to job losses. Small retailers and other small ‘Kirana store owners’ will suffer a large loss. Giant retailers and Supermarkets like Walmart, Carrefour, etc. will displace small retailers. * Supermarkets will establish their monopoly in the Indian market. Because of supermarket’s fine tuning, they will get goods on low price and they will sell it on low price than small retailers, it will decrease the sell of small retailers. Jobs in the manufacturing sector will be lost because foreign giants will purchase their goods from the international market and not from domestic sources. This has been the experience of most countries which have allowed FDI in retail. Although, our country had made a condition that they must source a minimum of 30% of their goods from Indian micro and small industries, we can’t stop them from purchasing goods from international markets as per WTO law. So after coming to India, they can reduce this 30% by litigating at the WTO.So far India has not allowed FDI in retail and allows these giants to operate stores which can deal only with registered business. For e. g. , Metro, a well known retailing giant of Germany is allowed to sell only to businesses which serve the front end customers like us. The retail industry can be divided into organized and unorganized sector. The organized retailing is which are backed by corporate giants like Reliance, Future etc. Unorganized retailing refers to the traditional shops which are basically no frills business.Organized sector can be compared to premium airlines whereas unorganized sector can be compared to low cost ones. However like in airline industry the unorganized sector contributes 98% of the total trade. However inspite of being well served by our home grown retailers, the government is toying up with the idea of opening retail for foreign companies. That brings us to the question on what exactly do they bring to the table. The answer is a lot of hear tburns and a little respite to the country in terms of managing the food produce in the country.

10 years from now Essay

I don’t like thinking too much about the future, I’ve always been one to worry. Despite all the what-ifs that go through my head on the daily, I try to remember that there are certain things that I can control and many things that I can’t. I am learning how to focus on those things I can control in order to create a successful life for myself. In ten years from now I will be 28 years old and everything else is just a fantasy. I plan on finishing two years of pre-requisite classes at Kirkwood and then continuing on to Mount Mercy University to study nursing and earn my BSN (Bachelors in Nursing). I will be finished with school so with that being said I see myself as a nurse working in a hospital, that is if I don’t change my major five times before I graduate. Read more:Â  10 Years From Now Essay By almost 30, I hope that I will be close to married and preparing myself to start a family. I’m not sure how many kids I plan on having, but probably no more than three. I plan on being financially comfortable which includes owning my own car and home. I know through out my life I will always continue to be close with my family, so I’m hoping that I always live in close distance of my parents and my sister. When it comes to planning out ten years from now I feel as though I have a good grasp on which road I’ll be going down, but that road could be going many different directions. I plan on taking it one day at a time, and hopefully with that strategy by the time I’m 28 I will be a very happy woman. 10 Years From Now Essay Ten years ago, I was in middle school, and was a kid that only wanted to do homework after school, eat, watch television and play with friends. I was a kid that did not care about the future and, if you had asked me what I wanted to be, I would have simply answered that someday, I will be a racecar driver. Now, I am able to clearly imagine the position I want to be in ten years. In ten years, I will have completed my bachelor’s degree in Bussiness administration major in financial management. After my graduation at dlsl, I would have gotten a good entry-level job in the financial industry We are thinking too much. It seems odd at first, but the only way that you’ll be proud of yourself ten years from now is to stop thinking about time and to start focusing on the now. see more:where i see myself in 5 years essay

Engineering Essay Example | Topics and Well Written Essays - 1500 words - 3

Engineering - Essay Example MD simulations are performed to provide a comparison base for the results of the experiment in order to identify with the fundamental mechanism. The result of this shows to have defect formation depending on nuclear collisions up to attainment of threshold of ~ 2.2 keV/nm by Se over which the electronic energy loss becomes significance. The results from the experiment are given in terms of tables and figures. Figure 1 exhibited a distinctive Raman spectrum evolution of ID/IG in SiO2-supported graphene, in which 1 Mev C ions were applied. Table 1 constitutes a list of experimental results of estimated fault yields. There is calculation involving application of SRIM, the electronic stopping power, Se and the nuclear stopping power Sn of occurrence ion in SiO2 and graphene. Figure 2 involves a plotting graph on fault yields in graphene against irradiated ion in graphene nuclear stopping power. The conclusion shows threshold to be set by SiO2 substrate and also the defects of small size are formed in the graphene that is supported (Wang et al. 2015). Yeom, D. Y., Jeon, W., Tu, N. D. K., Yeo, S. Y., Lee, S. S., Sung, B. J., ... & Kim, H. (2015). High- concentration boron doping of graphene nanoplatelets by simple thermal annealing and their supercapacitive properties. Scientific reports, 5. The article is all about the study which involves demonstration of B-doped graphene nanoplatelets which can be developed by simple thermal annealing of GO nanoplatelets in boron oxide combination. This article begins by an abstract, which introduces us to graphene and its properties that enhance the carrying out of the experiment. Boron-doped graphene is introduced to be having electrical properties that are easily influenced by oxygen and water impurities. The next part is the introduction which discusses all that is in the body of the article. Various temperatures are then provided for thermal annealing of Boron oxide or GO mixture

Business Ethics Case Study Example | Topics and Well Written Essays - 1500 words - 1

Business Ethics - Case Study Example ased on the argument that Snowden had not followed the right mechanisms for whistle-blowing and that he was working with foreign states which makes his action treasonous. In countering the view that Snowden did not follow the right channel in his complaints, the example of Drake who tried to complain through these channels but failed is given to indicate that taking that route would have ended the same way as it did for other whistle-blowers. The justification of Snowden’s actions should commence with an understanding of what whistle-blowing means. According to Alavudeen, Rahman, and Jayakumaran the act of whistle-blowing aims to expose â€Å"negligence, abuses, or dangers† (220) within an organization especially when these actions pose a threat to public interest. A key characteristic of a whistle-blower is the possession of expertise or inside knowledge from within the organization. Some authors have identified a whistle-blower as an employee who feels the activities performed by their employer can potentially harm a third party, violate human rights or is against the law which established such institutions and who therefore proceeds to inform the public of this fact (Duska 147). What arises from the above characteristics and motivations behind whistle-blowing is that the actions are deliberate, done by insiders with knowledge and expertise to assess the information, the information concerns actions that threatens citizens’ rights. The information is such that the public wants to know and that such information is given out as petition to for the wrongs to be corrected through public pressure. Based on the definition, Snowden fits the characteristics of a whistle blower given that he had gained insider knowledge about US and European telephone data and Internet surveillance programs by the National Security Agency (NSA) while working as a contractor. Further, the information provided concerned the privacy of the people, which means they would want to know

Identify major Islamic eras and key figures in Islamic history who Essay

Identify major Islamic eras and key figures in Islamic history who have had the greatest impact on the Muslim faith and on world - Essay Example The mortal occupation by the Prophet was followed by Abu Bakr who was the first of the four caliphs accepted by Sunni Muslims as the vastly guided caliphs (al-khulafa al-rashidun). Abu Bakr was regarded as a man of great sanctity and piety who ruled religiously during his political reign in two years despite intermittent blunders and biased verdicts. Abu Bakr’s reign was marred with strong forces of Arab tribalism group that threatened to break up the political unity created by the Prophet. However, Abu Bakr was incredibly successful in suppressing the tribal waves and preserved the unity of the newly founded political entity in Medina. The second caliph, Umar who was considered by the Sunnis as the most successful caliph reigned between 13/634 and 23/644 with a great record of preserving the unity of Islamic state and spreading it to other states. Umar , who remarkably lived a life of simplicity and austerity, successfully captured Jerusalem whilst showing immense respect to the houses of worship of the Jews and Christians. He further made history in spreading Islam in various countries such as Persia Syria, and North America. Umar was later succeeded by Uthman who was chosen through consensus of the community elders from 23/644 to 35/656 ensured wealth influx in Medina and the rest of Arab territory. Uthman’s administration was flawed nepotism claims which ws evident when he appointed his relative Muawiyah governor of Syria. In his reign, Uthman caused uprising against himself, which eventually led to his death. Muawiyah later moved against Uthman’s successor thus precipitating the division of the body politic that continued to date. Ali did not rule for a long period because of civil strife and wars on various borders that were led by his Shiah followers against Quraysh and his companions Talha and Zubayr. Ali afterward moved capital of Islam to Kufa in Iraq where he had many followers and confronted Syrians who did not like him. Althoug h Ali was successful in this Siffin battle, the Syrians came with Qurans in their hands pleading for arbitration, which was easily accepted by Ali. The movement of Islamic capital to Kufa led to permanent departure of political and cultural centre from Arabia though the religious centre continued to remain in Hejaz. Umayyads, after Ali’s death, ruled from central Asia to Spain and France for a long time but were confronted by efforts to restore power of aristocracy of Mecca and Bedouin rebellion against central authority and Shiite dissent. Abd al-Malik later restored peace and was preferred by both sides. Non-Arabs who believed that Umayyad were Arabs brought a fierce resistance. The Persian general led by Banu Abbas captured Damascus with the help of Persian supporters. However, the Muslim Spanish was established by one of the Umayyad thus maintaining the golden age of Muslim rule in Spain. Abbasids rule later marked the classical Islamic civilization by preserving the Isla mic empire, unity, Islamizing many institutions, and maintained caliphs. During Abbasids reign, Baghdad became the greatest Islamic cultural centre. Renowned Abbasid caliphs’ Harun al-Rashid and al-Ma’mun were the greatest patrons of arts and sciences. At this period, Islamic beliefs and knowledge started to grow such as codification of Shari’

'Majority rule is the right response to resolving disagreements in Outline

'Majority rule is the right response to resolving disagreements in society.' Discuss - Outline Example Government is an institution majorly formed to create stable society for the people that it governs. The people are however a complex group with widely varying wishes, needs and ideas as such the government must always turn to majority rule. The government cannot in anyway please everyone all the time. It must focus on making most of the people happy in order to gain stability faster (Web, N.d). Right is conformance with justice, law or morality. It is fair and effective. Rights can also be defined as entitlements to perform certain actions, or to be certain in states or entitlements that others perform certain actions. They dominate modern understandings of what actions are permissible and which institutions are just. They structure the form of governments, content of laws, and distribution of freedom and authority. Thus to accept a set of rights is same as to approve a distribution of freedom and authority and hence to endorse a certain view of what may, must and must not be done ( Wenar, 2010). Many theorists agree that A’s claim-right gives B a second order reason not to act on some first order reason. To go by this route we would need to tamper the conclusiveness of the conclusive reasons implied by assertions of rights to accommodate the fact that some rights have priority against others, and if any, few rights outweigh absolutely all non-right considerations in all circumstances (Wenar, 2010).This paper will focus mainly on the principle of majority rule and the rights of the minority. The main arguments are that majority rule is the right response to resolving agreements and supermajority rule is a better response to resolving disagreements in the society. Majority rule is right to resolving disagreements because it provides utility and fairness. Utilitarian argument The principle of utility states that in any circumstance that action ought to be done and that institution ought to obtain all the alternatives available, produces the greatest net ba lance of happiness over unhappiness when we sum up all happiness and unhappiness over all sentient beings from now in to the future (Cohen, 2002). The main feature of utilitarian political feature is that it calls for the maximization of happiness summed over all and not any particular distribution of happiness and subject to the constraint of everyone is above a certain minimum level. Thus from this emphasis on aggregation, utilitarianism requires that we trade off the burdens on some people and benefits to other people. The utility principle reduces highly contested and vague issues of right and wrong to problems that can actually be addressed through public methods of observation and calculation rather appeals to equally vague and contested intuitive ideas. Because of the gains in analytical tractability one may be able to secure greater public agreement about what is at stake in a political dispute and how to resolve it. Hence this principle represents one way to treat people as moral equals and it assigns the happiness of each affected party equal weight in determining what ought to be done. In actual sense the principle of utility represents a refinement of the intuitive idea that conduct and policy are right just in case they have the overall consequences or best results (Cohen, 2002). Egalitarian argument Egalitarian view that equality is the special sense of comparative equality but the prioritarian view that

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

Skyfrance - Essay Example As people we are habituated to perform a certain function, with change this habit of repeating a similar task is breached. When change is enforced upon people they feel helpless about not being able to alter the happenings and thereby react in a negative manner to the change. The role of Jane and all staff at Skyfrance should be to support the employees and help them adapt to the change by accepting the change. It should be realized that the change should not be simply enforced on someone instead a feeling of motivation to decide on the changing circumstances should be instigated by the management. Firstly, the Kubler Ross transition cycle. It describes 5 stages of receiving catastrophic news. These 5 stages are denial, anger, bargaining, depression and acceptance. The reaction of the staff can be better understood by this model. The staff is perhaps still in the initial stage of denial or anger, where they feel that the changes taking place are not really going to take place. They may feel that if they do not serve the customers the change will not take place. It should thereby be communicated that the change will be initiated whatever the condition may be. They could perhaps also be feeling a sense of anger as they may feel challenged by the change and their possible role in the new structure of the company. Also Jane should ensure that people are informed that such feelings are normal and acceptable during a change process. The ADKAR model for individual change management describes 5 blocks for successful change management. These are awareness (why change is required), desire (to support in change), knowledge (of how to change), ability (to implement new skills and behavior) and reinforcement (to sustain the change). Perhaps the staff is still not aware of why the change is required and thereby may feel threatened by the change. The company should thereby provide the

PESTLE Analysis of Gazprom Coursework Example | Topics and Well Written Essays - 1500 words

PESTLE Analysis of Gazprom - Coursework Example As the paper outlines, Gazprom contributes nearly 10% of the national Gross Domestic Product (GDP) of Russia and aims to make the company the leader in the energy sector (Green Peace, 2013). It supplies resources to the people of Russia and other countries and helps in generating electricity for the people. Much of the revenues of Gazprom are generated from exporting gas to the European countries. The prices charged from the foreign consumers are five times more than the Russian consumers. The growth of the company can be observed from its 5 Years Dividend Growth which is 17.63% with the current P/E ratio of 2.4931. Gazprom, in order to become the leader of the natural gas and oil segment, has explored its business in various European countries and thus has become a profitable corporation (Bloomberg, 2013; Victor, 2008). The objective of the company is to do a PESTLE analysis of Gazprom. The impacts of the political, economic, social and other factors on the operations of the company would be evaluated with a precise focus on the influence of Eastern Europe. PESTLE Analysis The business of Gazprom operates in an environment which is surrounded by several key factors. To evaluate the factors, to understand the opportunities and the threats of the environment PESTLE analysis is conducted. This analysis helps in understanding the environment and the future scopes of the company in the region owing to the social, economic and political perspectives along with the government policies of the region. In this regard, it is determined that Gazprom has its base in Russia and the maximum amount of revenue for the company comes from the Eastern European economy. PESTLE analysis would enable to derive an understanding of the influencing factors which are or would affect the company’s performance, especially in the Eastern European region. Political The government policies of Russia affect the business of Gazprom. Due to government policies, Gazprom enjoyed the power of monopoly for several years in its prices and distribution process of natural gas. The government of Russia submitted a proposal for the intergovernmental agreement which affected the cross border infrastructure. These treaties eradicated the monopoly of the company but made the trade easier. The political rationale behind the policy implication was to expand the business in Russia and in overseas. The traditional political policy was hampering the market share of Gazprom in the European market and hence the need for the tie-up with Qatar emerged to help the company and the country in gaining importance in Europe (Hulbert, n.d.). The investment from the Russia government would help in the development of Gazprom and the economy of the country as well. Moreover, it is also observed that the political dispute between Russia and Ukraine was affecting the gas prices and its trade. The use of gas by Moscow from the underground gas storage affected the transportation to Europe. The trade barriers and the high prices are affecting the business and the economy of Russia. To regain its market in the European countries, an agreement is being done by the government to lower the price of gases in Lithuania. Moreover, the Russian political environment used Gazprom as an instrument for foreign policy to remove gas supply to Georgia and Moldova.

St.Regis Doha 2 Essay Example | Topics and Well Written Essays - 750 words

St.Regis Doha 2 - Essay Example It offers butler service to every client that books a stay at the hotel in a bid to ensure maximum customized service to each client. They achieved this through creation of St. Regis Butler Service. The Butlers wait on the guests throughout the entire stay. They serve all sorts of beverages at guest’s convenience. Guests have varied service choices from wake-up calls with breakfast, daily newspaper services and basic housekeeping services. Guests in Superior Rooms, Grand Deluxe Rooms and Junior Suites receive complimentary coffee and tea on arrival. Guests in any Suite type receive complimentary coffee and tea throughout the stay. The Butlers unpack for guests as they relax or pack for them as they leave. They also offer free garment pressing and folding of two items a day. Additional items are charged (St. Regis, 2011). Apart from butlers, the establishment employs professional chefs for various dish cultures, waiters, and security men, cleaning staffs, management and other m aintenance labor. They obtain their supplies locally or from the international market. Marketing is mostly through advertisements and participation in local and global activities (Scott, 2013). The hotel targets clients visiting for leisure and business purposes. It has 4,000 square meters of conference and meeting space, a number of restaurants, lounges and bars. The restaurants include Gordon Ramsey, a famous collection of restaurants at St. Regis Doha with different rooms having completely different but beautifully unique breathtaking decorations. The hotel offers Remedy Spa, private treatment services that have 22 rooms set aside for the purpose. The hotel price different packages differently. Each package has its own customized services but is flexible as well (St. Regis, 2011). Qatar witnesses great inflow of tourists throughout the year. Tourism in Qatar is on a steady growth rate since 2010. According to Qatar Tourism Authority report on (2013), years 2010-2011 and 2011-2012 experienced a constant 12 percent tourist’s increase. Fiscal Q.1 2013 indicates figures slightly below 11 percent but fiscal year is not yet over. Qatar authorities made it clear in the recent past that their target market is high-income earners and not low or mid-income tourists. Therefore, they focus on business travel and high luxury retreats. Despite this discriminatory approach, tourists flock the State at an increasing rate. However, the income ranges of the tourists are not known. Between 2010 and 2013, 10% more visitors came from around the globe rather than from around the region. The report also indicates that hotel sector at Qatar is growing at a high rate. Currently, 110 hotels are under construction, which upon completion will increase the total capacity of hotels from 13,407 rooms to 19,931 rooms (QTA, 2013). Table four: Porter’s five forces analysis of St. Regis Doha Strategic scope The increasing growth of tourists ensures a steady market for St. Regis Doha-both business visitors and luxury seekers. Strategic strength The facility has a number of advantages that strengthen its operations and service provision. They include 336 guest rooms, 58 suites, a collection of restaurants, lounges and bars, butler services and scenic attractions. New entrants threat Qatar is a dynamically growing economic region. Expanded business options attract more people to the region leading to increased hotel industry

What Are The Problems Of Using Both Diesel Trains And Electric Trains, Essay

What Are The Problems Of Using Both Diesel Trains And Electric Trains, And Can These Problems Be Solved By Switching To Just One Or The Other - Essay Example But as, the world’s climate is changing, the technology regarding the trains is changing. Diesel fuel based trains are massively used in the world. On the electric trains have become the major sources of transportation (the Guardian, 2012). Some modals of electric trains are faster and consume a considerably low amount of energy as compared to the diesel as well as relative electric trains. In this paper, I will evaluate the problems of using both diesel trains and electric trains, and can these problems be solved by switching to just one or the other. Problems of Using diesel Trains As the diesel prices are raising, it became less feasible from economic point of view to utilize oil resources as the main source of energy. On the other hand, diesel fuel engines produce immense of green house emissions. The engine requires cooling, and thus the efficiency of a diesel fired engine is not more than 40% (the Guardian, 2012). The diesel power train engines require scheduled maintena nce. The maintenance cost remains to be high (Nearing, 2013). Problems with Electric Trains Consume a large amount of electricity energy. In case of electric failure, the train is unable to continue journey, as it requires constant supply. In case of thunder storm, the delicate electronics may no work properly. Sometimes, the hanging electric wires over the trains are considered to be less protective Comparison between Diesel and Electric Trains Electric trains are much efficient as compared to the diesel fired trains. On the other hand, the technological advancements in the electric trains made the electric power trains, the fastest trains. Electric trains convert electric energy to mechanical energy, the motors require less cooling as compared to the engines so less energy is wasted. At higher altitude diesel engines become less efficient due to the lack of oxygen but electric rains work properly in that situation. Electric trains are more environment friendly as compared to the d iesel trains. Electrical trains are equipped with backup systems in case if one motor fails, other motors support its weight. If electrical energy is from a renewable source, environmental impact of the transportation can be reduced. If electrical energy is generated from fossil fuel resources, electrical trains still generate 20-30% low green house emissions as compared to the diesel trains. Electrical trains are more economically feasible as compared to the diesel trains (Nearing, 2013). Solutions that can make diesel trains better In order to increase the efficient of the diesel trains, it is important to convert the heat energy from the exhaust to a useful form. One way of doing this, is to utilize the thermal energy recovery system. The heat recovery should be used to convert water into steam and then use steam to power the train. By doing this, the energy efficient can be increased to 80% or more. Instead of using the petroleum diesel, bio diesel can reduce the cost of the fue l and reduce the environmental impact of the diesel fired engines (Takeuchi, Goodman, & Sone, 2003). Solutions that can make electrical trains better The researches have researched much to make the electrical trains better and more secure but from general perspective, there is need to power the trains from more than one source, more than one sou

Underage Drinking Essay Example for Free

Underage Drinking Essay The youth at this days is drinking much more than the youth in the past and this is a big problem because the world is having more criminality and deaths because of this. The number of women since 1977 to 1993 tripled and there are more men drinking than women. 5000 adolescents a year are death because of alcohol. A 60 percent of college women who had sexual transmitted diseases where on the influence of alcohol, 90 percent of the campus rapes were because or the victim or the aggressor were in the influence of alcohol. 5 percent of campus criminalities are because of the influence of alcohol. And also more than half of the students of 140 different colleges affirm that they get very drunk with alcohol and most of them don? t are twenty-one years old. 40 percent of students of 12th grade drink, more than 20 percent of 10th grade students drink, and almost 20 percent of 8th grade students drink; all this is only in the US and there are countries with more drunk students. The consequences of this are:Â  In the brain: adults can have problems with long term memory and long term thinking, adolescents have more problems, because they have this and almost always they show long-lasting harm from alcohol as they grow. In the liver: they have high liver enzymes what shows heavy liver damage, and sometimes obesity. In growth and endocrine effects: puberty is an age in which there are many changes and growth. With alcohol this growth is not complete and it may trouble the generation of hormones necessary for organs, muscles, and bones. In addition it may be problematic with the maturation or reproductive organs. In conclusion, there are more people that drink that in the past and this is very bad because they hurt them, also their victims, the family of their victims, and even their own family so we have to find a solution for this. Also the death of the young people is increasing and there are more people dying also because of car crashes and criminalities.

Low-grade Rhabdoid Meningioma: Morphological Characteristics

Low-grade Rhabdoid Meningioma: Morphological Characteristics Arvids Jakovlevs, Andrejs Vanags, Janis Gardovskis, Ilze Strumfa SUMMARY Rhabdoid meningioma (RM) is a rare type of meningioma. It is classified as a grade III tumour (anaplastic meningioma) in the recent World Health Organization (WHO) classification of the tumours of the central nervous system (CNS). Here we describe a unique case of RM lacking any features of malignancy. Few cases of low-grade RMs are described in the literature in contrast with the grading of this entity in WHO classification. Key words: meningioma, rhabdoid, low-grade AIM OF THE DEMONSTRATION The aim of our article is to report a case of unusual RM lacking malignant features in regard to the issue about the prognostic significance of rhabdoid morphology in meningiomas. CASE REPORT A 37-year-old woman was admitted to the hospital due to progressive headaches over previous 1.5 years. The magnetic resonance imaging of head and brain revealed a well-demarcated intracranial lesion measuring 3.53.63.6 cm (Figure 1A). The mass was located adjacent to the frontal bone and was attached to the dura mater. The patient underwent a craniotomy and total tumour resection. Histological examination of the neoplasm revealed cells consistent with rhabdoid morphology. The tumour was almost entirely composed of polygonal, rather large cells that possessed eccentric nuclei, strongly eosinophilic cytoplasm with abundant pale globular inclusions and prominent cytoplasmic granularity (Figure 1B). The nuclei of neoplastic cells were slightly pleomorphic. Mitoses were absent in the whole specimen. In addition, the tumour had well-developed fibrous capsule that demarcated it from normal brain tissues. Psammoma bodies were found in some areas of the tumour. Immunohistochemical visualizati on (IHC) showed intense cytoplasmic expression of vimentin and epithelial membrane antigen (Figure 1C-D) as well as strong nuclear expression of progesterone receptors in the tumour cells. The neoplastic cells did not express smooth muscle actin, desmin, HMB-45, S-100 protein, kappa and lambda light chains. Ki-67 proliferation index was as low as 1.5 %. Thus, the morphological appearance and immunohistochemical features were consistent with RM and low-grade cellular characteristics. DISCUSSION Tumours with rhabdoid morphology were first described in 1978 in relation to malignant renal tumours of children (1). Nowadays, many tumours with rhabdoid morphology are known in different localizations including CNS and meninges. Rhabdoid cells have no evidence of myogenic origin. The term „rhabdoid† is used to denote close histological resemblance of tumour cells to rhabdomyoblasts. Rhabdoid cells are characterized by typical light microscopic morphology: round cells with eccentric, vesicular nuclei, prominent nucleoli and eosinophilic cytoplasm with paranuclear globular inclusions (3). Meningiomas developing from the meninges are among the most common intracranial tumours. Regarding these tumours, surgery is the mainstay of treatment, and neurosurgeon also is involved in the planning of further observation and treatment in accordance to the tumour grade (5). Meningiomas show wide range of histopathological appearances. While the majority of meningiomas are benign tumours (WHO grade I meningiomas), some meningiomas have increased risk of local recurrences (WHO grade II meningiomas) and the minority are truly malignant and have a risk of metastatic dissemination; these are classified as WHO grade III meningiomas (2). RM is an uncommon type of meningioma which was described for the first time in 1998 (3). It was found that rhabdoid morphology in meningiomas was associated with a worse prognosis (3). Soon after this finding RM was separated as a distinct entity in WHO classification of CNS tumours published in 2000. RM has been classified as a grade III neoplasm by WHO (2). Consistent with the malignant behaviour, significant mitotic activity, anaplasia and other atypical features are usually found in RMs (2, 4). However, there are some isolated reports of RMs with no evidence of cellular atypia (6). In our case diagnosis of RM was established due to pure rhabdoid morphology along with meningothelial origin that was clearly demonstrated by IHC. Absence of atypia in the tumour cells and low Ki-67 proliferation index was consistent with low-grade meningioma in the present case. In conclusion, rhabdoid meningioma occasionally lacks histological features of malignancy that can lead to confusion if the rhabdoid morphology is always associated with malignant behaviour. Increased awareness of low-grade rhabdoid meningiomas is necessary to estimate the prognosis and to plan the treatment appropriately. REFERENCES Beckwith JB, Palmer NF. Histopathology and prognosis of Wilms tumors: results from the First National Wilms’ Tumor Study // Cancer, 1978; 41:1937 – 1948 Cooper WA, Shingde M, Lee VK, Allan RS, Wills EJ, Harper C. â€Å"Rhabdoid meningioma† lacking malignant features. Report of two cases // Clin Neuropathol, 2004; 23(1):16 – 20 Louis DN, Ohgaki H, Wiestler OD, Cavenee WK. Meningeal tumors // In: Bosman FT, Jaffe ES, Lakhani RS, Ohgaki H. WHO Classification of tumours of the central nervous system. 4th edition. Lyon: IARC; 2007; 164-180 Perry A, Scheithauer BW, Stafford SL, Abell-Aleff PC, Meyer FB. Rhabdoid meningioma: an aggressive variant // Am J Surg Pathol, 1998; 22:1482 – 1490 Walcott BP, Nahed BV, Brastianos PK, Loeffler JS. Radiation treatment for WHO grade II and III meningiomas // Front Oncol, 2013; 3:227, doi:10.3389/fonc.2013.00227 Zhou Y, Xie Q, Gong Y, Mao Y, Zhong P, Che X, Jiang C, Huang F, Zheng K, Li S, Gu Y, Bao W, Yang B, Wu J, Wang Y, Chen H, Xie L, Zheng M, Tang H. Clinicopathological analysis of rhabdoid meningiomas: Report of 12 cases and a systematic review of the literature // World Neurosurg, 2013; 79(5-6):724 – 732 3t-Alkyl-2r,6c-diarylpiperidin-4-ones: Synthesis 3t-Alkyl-2r,6c-diarylpiperidin-4-ones: Synthesis 3t-Alkyl-2r,6c-diarylpiperidin-4-ones Synthesis A very convenient and non-laborious one-pot synthesis method developed by Noller and Baliah [50] has been used successfully for the synthesis of 3t-alkyl-2r, 6c-diarylpiperidin-4-ones 32 by the condensation of methyl ketones, aromatic aldehydes and ammonium acetate in 1:2:1 molar ratio (Scheme 13). It’s a non-laborious one-pot synthesis of 3t-alkyl-2r, 6c-diarylpiperidin-4-ones 32. Various substituted piperidin-4-ones were also synthesized by adapting the above method [53-,57]. Often used typical procedure reported by Baliah and Jeyaraman was adapted to synthesis several substituted 3t-alkyl-2r,6c-difuranylpiperidin-4-ones 33 and 3t-benzyl-2r,6c-diarylpiperidin-4-ones 34 with convenient modification [58,59]. Seven r(2),c(4)-bis(isopropoxycarbonyl)-t(3)-aryl-c(5)-hydroxy-t(5)-methylcyclohexano-nes (aryl = C6H5, p-ClC6H4, p-FC6H4, p-OMeC6H4, p-Me2NC6H4, m-O2NC6H4 and m-C6H5OC6H4) have been synthesized by condensing isopropyl acetoacetate with aromatic aldehydes in the presence of methylamine [53]. Aridoss et al have synthesized an array of novel N-morpholinoacetyl-2,6-diarylpiperidin-4-ones as well as imidazo(4,5-b) pyridinylethoxypiperidones and Structure and stereochemistry of all the N-morpholinoacetyl-2,6-diarylpiperidin-4-ones have been analyzed using 1H and 13C NMR spectroscopic techniques [54,55]. 1H and 13C NMR spectra have been recorded for 2r,6c-diarylpiperidin-4-one (3_-hydroxy-2_naphthoyl)hydrazones and 3,3-dimethyl-2r,6c-bis(p-methoxyphenyl)piperidin-4-one [56-57]. Conversion to other derivatives Other derivatives from piperidin-4-ones have been obtained which includes oximes 35 [60-73], hydrazones 36 [57,74], semicarbazones 37 [75], thiosemicarbazones 38 [69], and phenylhydrazones 39 [76] by the reaction of the carbonyl group with suitable reagents. 2r,6c-diarylpiperidin-4-ones have been reduced to obtain 4t-Hydroxy-2r, 6c-diphenylpiperidines 40a and 4c-hydroxy-2r,6c-diphenylpiperidines 40b. N-substituted 2r,6c-diarylpiperidin-4-ones 41-51 was obtained by the reaction of the NH function with suitable reagents have been reported (Scheme 13) [77-84]. Physico-chemical studies Several physico-chemical studies have been performed for 3t-Alkyl-2r,6c-diarylpiperidin-4-ones and their derivatives [64-91]. Several studies have documented the conformations of various substituted 2,6-diarylpiperidin-4-ones [78,86]. Pandiarajan et al. [88] have elaborately discussed the conformations of 32 and suggested chair conformation to these compounds with equatorial disposition of the aryl and alkyl substituents based on their NMR spectral data. Substitution of alkyl group at C-3 position of the piperidine ring causes the ring to flatten slightly about C(2)-C(3) bond probably to decrease gauche interaction between aryl and alkyl groups at C(2) and C(3). Stereochemistry of N-acetyl and N-benzoyl-2r,6c-diphenylpiperidin-4-one oximes 5256 has been already reported [89]. Synthesis and conformation of 3t-chloro-2r,6c-diarylpiperidin-4-ones 57 also been reported [90,91]. Manimekalai et al. [92] demonstrated the conformation of benzyl group in 4-benzyl-4-hydroxypiperidines 58. Pharmacological studies Many piperidine derivatives possess pharmacological activities including antimicrobial, antioxidant and anticancer activities and to form an essential part of the molecular structure of important drugs [9, 93-97]. Piperidin-4-ones have been used for development of compounds with selective biological activities include antiviral [98], antitumor [99], analgesic [100], local anesthetic [101,102], bactericidal [103], fungicidal [103], herbicidal [103], insecticidal [104], antihistaminic [104], anti-inflammatory [104], anticancer [105], CNS stimulant [105], antitubercular and depressant [106] activities. Earlier reports have clearly established that the biological activities[R1] of piperidin-4-ones were improved by incorporation of the substituents at C-2, C-3 and C-6 [106,107]. Ferguson documented that N-nitrosopiperidines are carcinogenic in nature and blocking of one of the à ¯Ã‚ Ã‚ ¡ position by an alkyl group significantly reduces the carcinogenic activity [108]. Lijinsky and Taylo r have also supports that blocking of à ¯Ã‚ Ã‚ ¡ positions to the N-nitroso group by methyl groups reduces the carcinogenic activity [109]. 3t,5t-Dimethyl-2r,6c-diarylpiperidin-4-one hydrochlorides 59-61 have shown anti-histaminic activity [110]. Furthermore, 3t,5t-dimethyl-2r,6c-bis(4-hydroxyphenyl)piperidin-4-one 62 and 3t-methyl-5-substitutedphenyl-2r,6c-diarylpiperidin-4-ones 63 showed antimicrobial, insecticidal and antihistaminic activities [111]. 2,3,6-Triarylpiperidin-4-ones 64 and their oximes exhibits marked bactericidal, fungicidal and herbicidal activities [104]. N-Substituted piperidin-4-one 65 and its derivatives 66 and 67 exhibited potential Juvenile hormone activity on Bombyx mori [112]. N-methyl-3E,5E-bis(arylidine)piperidin- 4-ones 68, possessing a variety of aryl and heteroaryl groups, showed antiviral and antitumor activities [98]. 3E,5E-Bis(benzylidene)piperidin-4-one 69, 1-acryloyl derivatives of 69, and 70 the adduct of 2-mercaptoethanesulfonic acid 71 as well as 3E,5E-Bis(thienylidene)-piperidin-4-ones 72 have shown antitumor activity towards human carcinoma cell lines Caov3, Scov3 and A549 [113]. Furthermore, modification of position 3 of the piperidin-4-one nucleus as well as a substitution of certain functional groups in the para position of phenyl ring attached to C-2 and C-6 carbons of the piperidine moiety would result in compounds of potent biological activities. Hydrazones Hydrazones are a class of organic compounds with azomethine -NHN=CH- proton that constitutes an important class of compounds for new drug development [10,97,98]. Hydrazone are formed usually by the action of hydrazine on ketones or aldehydes. Hydrazide-hydrazone derivatives receive the attention of various medicinal chemists as a result of their effectual biological potencies viz., antimicrobial, anti-tubercular, and also anticonvulsant actions [10,114-116]. Some hydrazones is known to act as herbicides, insecticides, nematocides, rodenticides and plant growth regulators. Several studies have documented the spasmolytic activity, hypotensive action and activity against leukaemia, sarcomas and other malignant neoplasms [114-116]. Many of the physiologically active hydrazones have applications in diseases like tuberculosis, leprosy and mental disorder are characterized by the presence of the triatomic group (>C=N–N73 [117]. Hydrazones are also useful in detection, determination and isolation of compounds containing the carbonyl group and many other metals [10]. Syringaldehyde hydrazones 74 and 6-nitro-3,4-methylene-dioxophenyl-N-acylhydrazone 75 exhibits antioxidant properties [118,119]. Hydrazone and its substituted derivatives showed good antibacterial, antifungal, anticonvulsant, antitubercular, anticancer and antitumor activities. 1-[4=[(2-[(4-Substitutedphenyl)methylene]hydrazine] carbonyl)phenyl]-3-substituted thioureas 76 exhibited good clinically active tuberculostat [120]. Some coupling products from 4-aminobenzoic acid hydrazones 77 and (7-Hydroxy-2-oxo-2H-chromen-4-yl)acetic hydrazide 78 showed antimicrobial activity [121,122]. A series of 4-fluorobenzoic acid (substituted methylene/ ethylidine) hydrazide derivatives 79 showed the chemotherapeutic antituberculosis activities [123]. Hemalatha et al have documented the antibacterial and antifungal activities of N-nitroso-2,6-diarylpiperidin-4-one semicarbazones [124]. Some bicyclic semicarbazones and thiosemicarbazones 81 showed a wide variety of biological activities [124]. The significance of fusing heterocycles Heterocycles possess an enormously diverse group of compounds, are widely distributed in nature. Heterocycles can be easily manipulated and modified by organic synthetic methods to increase or decrease reactivity. They are used extensively as intermediates in various reactions as well as building blocks in organic synthesis. Novel libraries of biologically diverse heterocyclic compounds have been synthesized by incorporation and substitution of a wide range of functional groups (ring activators or deactivators) and their positions around the ring of heterocycles. Several studies provide evidence that combination of two bio-active heterocyclic moieties together leads to the production of novel and biologically important compounds with the anticipation of several promising pharmacological agents [4,125]. Based on the above features discussed under 3t-Alkyl-2r,6c-diarylpiperidin-4-ones, 2r,4c-Diaryl-3-azabicyclo[3.3.1]nonan-9-ones and hydrazones, we have developed the system that fuse 3 -azabicyclonones/piperidin-4-one pharmacophore and hydrazide moieties together to produce the corresponding hydrazones with the anticipation of several promising antioxidant, anticancer and antimicrobial agents arising. The relevant technique used to elucidate the structure of the newly synthesized compounds Specialized spectroscopic instruments can be used to generate information that enables the determination of the structure of an unknown organic compound. This includes Infrared spectrometry (IR), nuclear magnetic spectrometry (NMR) and elemental analysis. Among all available spectrometric methods, NMR is the only technique which offers a complete analysis and interpretation of the entire spectrum [126,127]. A few of the strategies of NMR experiments that are used in determination of different compounds are described as follows. NUCLEAR MAGNETIC RESONANCE SPECTROSCOPY Nuclear magnetic resonance spectroscopy, one of the most versatile techniques for elucidation of structure of organic compounds, has shown a tremendous progress due to improved experimental technology and novel approaches. In NMR, the most useful information comes from the interactions between two nuclei, either through the bonds which connect them (J-coupling interaction) or directly through space (NOE interaction) [126-128]. Interpretation of NMR spectra is well understood from the following basic information gathered from NMR spectra. 1) Chemical shift, which identifies the type of proton based on their electronic environment, 2) Spin-Spin splitting patterns, which identifies neighbouring protons, 3) Peak Area, which is proportional to the number of protons giving a particular resonance line, 4) The observation of a triplet and a quartet spin state confirming usually the presence of an ethyl group (CH3CH2) and 5) The observation of ÃŽ ´ values between 7.2-8.0 indicates that the structure contains a benzene ring (benzyl proton) [126-130]. Generally, three approaches are used in NMR spectroscopy methods. These include one dimension (1D), two dimensions (2D) and three dimensions (3D). The first approach of 1D-NMR (1H DEPT, 13C, 15N, 19F, 31P, etc.) generates good information about the structure of simple organic compounds. However, it is overcrowded in case e of larger molecules. The second approach of 2D-NMR (COSY, DQFCOSY, MQFCOSY, HETCOR, HSQC, HMQC, HMBC, TOCSY, NOESY, EXSY, etc.) is used for the further larger molecules. A 2D-NMR spectrum also becomes complex and overlapping in case of further very large molecules like proteins. Therefore, multi-Dimensional-NMR (Homonuclear and Heteronuclear) are generally used to achieve high resolution and reduced overlapping in spectra of very large molecules [126,128,129]. This section further describes the general interpretation of structure of different organic compounds by different NMR techniques. 1D NMR SPECTROSCOPY 1H-NMR: Spin transitions of only hydrogen nuclei are observed in in 1H-NMR spectroscopy. Table 1 represents different ÃŽ ´ values, couplings, coupling constants and chemical shifts of 1H nuclei processing in different chemical environments. Commonly, ÃŽ ´ value scale of 1H-NMR ranges from 0-10 ppm with respect to Tetra methyl Silane (TMS) as internal standard. 1H-NMR spectral interpretation can be best understood from table 4 [126,131]. 1H Chemical shifts Because of variations in the electron distribution, the variation of nuclear magnetic resonance frequencies of the same kind of nucleus is referred to as chemical shift (symbolized by ÃŽ ´). Quantitative chemical shift are measured in frequency (Hertz) relative to a standard, Tetra methyl silane (TMS). Characterization of the structure of a molecule is depending upon the position and number of chemical shifts [111,112,115]. The chemical shift range of 1H nuclei can also be understood from a chart given in figure 1 [126].The chemical shift values for methyl protons attached to groups of varied electronegativity are given below [127]: CH3I-2.16 CH3Br-2.18 CH3Cl-3.05 and CH3F-4.26 ppm, The electron density around the proton affects its chemical shift. Because of the e- density around the H nuclei, the CH3 protons come to resonance at higher ÏÆ' values as the electronegativity of a functional group is increased. Electronic charge surrounded to H nuclei shields the nucleus to some extent from the influence of the applied field. The magnetic flux overcomes this shielding effect in order to bring a proton to resonance. Thus, the higher the electron density around the proton, the greater the induced diamagnetic effect and the greater the external field required to overcome the shielding effect. Electro-ve groups like fluorine in CH3F withdraws e- density from the CH3 group (-inductive effect). This leads to de-shielding by lower value of an applied magnetic field in order bring the methyl proton to resonance. Fluorine is more electro-ve than Cl, thus the proton in CH3F appears at a higher ÃŽ ´ values than those in CH3Cl. The chemical shift positions for protons attache d to C=C in alkenes is higher compared to that of accounted by electronegative effect alone. Alkene and aromatic protons appear at high ÏÆ' values while alkyne C≠¡C protons appear at a relatively low ÃŽ ´ value [126,127,132]. The magnetic field created by pi electrons or rings is referred to as Magnetic anisotropy, which describes an environment where different magnetic fields are found at different points in space. Since Pi electrons are held less strongly than sigma electrons, pi electrons are more able to move in response to the magnetic field. The anisotropic effects of the à ¯Ã‚ Ã‚ ³ electrons of C-C bond is low compared to those of the circulating à ¯Ã‚ Ã‚ °-electrons. The equatorial protons in cyclohexane resonate at 0.5 ppm higher than the axial protons. This is due to the anisotropic effect of the à ¯Ã‚ Ã‚ ³-electron in the CÃŽ ²-Cà ¯Ã‚ Ã‚ § bonds [127,133] (Figure. 2). [R1]Specify which biological activity

Agency Theory And Stakeholder Theory Commerce Essay

Agency Theory And Stakeholder Theory Commerce Essay The development of corporate governance is a global issue, the issue of corporate governance has come to prominence in various fields contains refers knowledge of finance, economics, accounting, law, management, organizational behaviour and so on. The term corporate governance and its daily usage in financial fields have attracted more and more public attention in the last thirty years. There are sorts of theories adopt in the corporate governance, while I will concentrate on two main streams of them: one is agency theory which is based on the interests of shareholders; the other is stakeholder theory which is based on the profits of all the stakeholders. The main aims of this paper are introduce and explore the agency theory and the stakeholder theory, compare and contrast these two theories. Apart from the introduction, the structure of this paper is as follows: the theoretical review of both agency theory and stakeholder theory is included in the next part; then, I will describe the contribution of the agency theory as well as how wrong is the agency theory; similarly, the fourth parts consist of two aspect of the stakeholder theory: the contributions and some criticisms; the final section is the conclusion. Theoretical review Agency theory In the early literature, classical economics considered that majority of corporations were not only owned but also controlled by the shareholders who have funding proprietors. With respect to standpoint of separation of ownership and control, it was firstly pointed out by Smith in 1838. In the later work of Berle and Means (1932), they hold the view that with countries industrialization and markets development, the ownership and control of corporations has been separated. The purpose of this action is to give an important explanation for corporate behaviour and the problems confronting owners (fragmented and dispersed shareholders) who attempt to exert their rights over the managers who have gained control in the modern cooperation. According to Arrow (1971), the origins of agency theory can be traced back to the 1960s and early 1970s, more and more economists detected and pay attention to the risk among individuals or groups. He mentioned that in the case of different argument toward risk insisted by the cooperating parties, the risk sharing problem occurred. 6 years later, Jensen together with Meckling pointed out Agency theory in their article; in addition, they defined an agency relationship as a contract under which one or more persons (the principals) engage another person (the agent) to perform some service on their behalf which involves delegating some decision making authority to the agent. For example, it is widely accepted that the agency relationship is between the owners (as the principal) and the managers (as agents). The aim of agency theory is to provide necessary monitoring to reduce the so called agency problems arise in agency relationship between the principal and the agent. One problem is that whether the behalf of agent is applicable or not can not be testified by the principals. The expect or goals of the principal and agent conflict brings to the first agency problem; more over, when it is difficult or expensive for the principal to know what the agent is doing in details and exactly, agency problem rises either. The other problem is the risk sharing between the principal and the agent. Due to the different risk preferences, there is distance between the action of the principal and the agent. An overview of agency theory is given in Table 1 (Eisenhardt, K. M 1989). Table 1 Agency Theory Overview Key idea Principal agent relationships should reflect efficient organization of information and risk bearing costs Unit of analysis Contract between principal and agent Human assumption Human assumption Bounded rationality Risk aversion Organizational assumption Partial goal conflict among participants assumptions Efficiency as the effectiveness criterion Information asymmetry between principal and agent Information assumption Information as a purchasable commodity Agency (moral hazard and adverse selection) Contracting problem Risk sharing Problem domain Relationships in which the principal and domain agent have partly differing goals and risk preferences (e.g., compensation, regulation, leadership, impression management, whistle blowing, vertical integration, transfer pricing) Stakeholder theory of the firms Donna Card Charron (2007) reported that the stakeholder theory has gone through three stages until now. The first stage of stakeholder theory is from the 1960s through early 1980s, the stakeholder theory agenda was proposed by the corporate revisionists. During this period, a new idea social institution was advocated to replace the stockholder ownership in the firm. In the early 1970s, stakeholder theory was accepted by the business ethics professors. Between the late 1980s and 2000, the stakeholder theory is ongoing the second stage. Corporate managers turn to interest in the stakeholder theory until they know that stockholders are just one aspect of stakeholders among many. It is significant for them to defend themselves against stockholder rights activities. In the middle of 1990s until 2000, corporate revisionists look forward to build the claims of stakeholders. All the participants and assistants who share the risk and create profits for the firms are stakeholders. They should obtain a balance share of the riches created by the joint efforts (Clarkson 2002: 1)). According to Donna Card Charron (2007), it is imperative for managers observe the following principles: (1).Monitor and respond to concerns and interests of all legitimate stakeholders. (2)Communicate with stakeholders about their concerns, contributions, and risks. (3).Act with sensitivity to each stakeholder group. (4)Attempt to achieve a fair distribution of benefits and burdens. (5)Insure that risks are minimized and harms are compensated. (6)Never jeopardize inalienable human rights or deceive concerning risks. (7). Deal with the conflicts of its self interest and the interest of stakeholders through public institutions, public reports, incentive systems, and third party review. The stakeholder theory was widely acceptable by the end of this stage. In the third stage of stakeholder theory currently, Value Based Management pointed out the effects of stakeholders toward to the firms can not be ignore and even important, there is a positive relationship between the wealth of stakeholders and that of stockholders. Different from agency theory which focuses exclusively on interests of shareholders, the Stakeholder theory concentrates on the interests of all the parties in the corporation. Stakeholder theory is considered as a theory of organizational management and ethics. Under this theory, what the managers should do is not only to maximize shareholder value, but also benefit the profits of the stakeholder group. Groups or individuals in the corporation, whose interests and benefits have a close relationship (gains or loss) with the corporation action, are called stakeholders. Sometimes, the concept of stakeholders is a generalization of notion of stockholders who can propose some special claim on the firm (R.Edward). Stockholders are given the right to demand certain actions by management; similarly, stakeholders can also make claims. The assumption of stakeholder theory is the values are imperative and tangible a part of doing business. R.Edwatd et al. (2004) propose that stakeholder theory is managerial, and it reflects and directs how managers operate rather than primarily addressing management theories and economists. Two key questions of the stakeholder theory are mentioned in Freemans article (1994). The first question is the purpose of the organization. This is very helpful and useful for managers to express the share awareness of the value they create and what brings its major stakeholder together. In addition, this push forward the firms itself expect it to create sound performance by considering both its aims and marketplace financial metrics. The second question asked in the stakeholder theory is what responsibility management has to stakeholders. These encourage managers to know how they want to do business. Particularly, they are looking for an appropriate kind of relationship with stakeholders to ach ieve their own interests. The core of stakeholder theory, economic value is that large numbers of people come and work together to advance their situation, is accordance with the fundamental modern economic realities. In order to impulse more and more workers to do their best for the firms, it is necessary and crucial for managers to develop relationships and create communication with stakeholders. (See R.Edward Freeman, Andrew C. Wicks, Bidhan Parmar 2004) It is widely accepted that shareholder is significant party in the firm and interests are a critical characteristic. In terms of profits, it is not the driver in the process of value creation while the results. Contribution of the Agency theory Perrow (1986) noted that the key point of the agency theory is focused on the significance of motivation and self interest. Under the agency theory, any ideas and activities of the organizations are based on self interests; furthermore, a common problem structure across the research topics is important either. There are two contributions to organizational thinking created by the agency theory in Eisenhardt, K. Ms work paper (1989). First of all, information is considered as a good, in another word, information can be sold by people if it is necessary. It can be divided into formal information system and informal information system. The former includes budgeting, MBO, and boards of directors; while the later one consists of managerial supervision that just in organizational research. If the principals want to know what the agents are doing and whether their action is appreciate or not, invest the information system is a good approach. An explanation of this is executive compensation (Kathleeen M. Elsenhardt 1989). A great many authors showed that they are surprised at the insufficient of performance found on executive compensations. On the contrary, since the compensation is affected by different kind of elements such as information system in the agency theory, the above argument is easy to accept. In addition, the risk implication of agency theory is another contribution. There are various uncertain future such as prosperity, bankruptcy and some secondary consequence that corporation may meet. Whether the future of firms is bad or sound depends on the performance of organizational participates. The outcome of firms, to large extent, is affected by the environmental factors that cover government regulation, new similar competitors, science and technology innovation and so on. Agency theory encourages the ramifications of outcome uncertainly to indication for producing risk. For instance, some behaviour of principals in the companies such as make or buy decision is not influenced by the uncertainty technology and demand (Walker and Weber 1984). Although they do not know that the reason is transaction cost framework; their conclusion covers the idea of agency if the managers of the firms are risk neutral. Walker and Weber concluded such a conclusion that outcome uncertainty is no t associated with risk neutral principal. On the other hand, the outcome uncertainty is extremely sensitive to risk principals in new venture. If the firm is new and not big enough, the limitation of capital and resources for predicting the uncertainty will lead to the frequency of the failure. The managers on such firms are risk averse principals. From the agency theory perspective, the relationship between managers and outcome uncertainty is extremely close. For example, in order to maintain and develop the firm, managers are more likely to adopt buy decision to transfer risk. On balance, agency theory predicts that risk neutral managers are likely to choose make option (behaviour based contract), whereas risk averse executives are likely to choose buy (outcome based contract). How wrong is the agency theory? The adoption of the agency theory for corporate governance become widely accepts all over the world, especially in the UK and the US. The agency theory indeed brings some merits for the corporations. However, more and more faults are showed by the recent literature research and firm practice like Enron, Xerox, and WorldCom. This paper will focus on the Enron to explain how wrong the agency theory is. Thousands of employees losing their life savings tied up in the energy companys stock due to the collapse of Enron which is considered as the largest bankruptcy in US history (Thomas Clarke 2004). The following introduction about the Enron is based on the lecture notes of Bob Wearing (2008). Generally speaking, Enron is an intelligent gambling that covers many aspects: firstly, allow high risk accounting; secondly, allowing 50% of assets to be shifted into off balance sheet entities; thirdly, waiving the ethics code to allow self dealing transactions; fourthly, ignoring directors conflicts of interests; Finally, failing to monitor executive compensation. The foundation of the Enron business is risk management. It expects to get ahead to traditional, vertically integrate kind of institution by using risk management. Enron adopt its own methods to protect the Enron stock, its funds will be inflated when Enrons share price fell. Bankruptcy is the destination of Enron once credit agencie s decreased Enrons rating. Most non executive directors are paid as consultant from the directors fees; consequently, they can not be characterized independently. At the same time, directors received various types of gifts from Enron. The award for Andrew Fastow (CEO) remains a secret, and another CEO (Kenneth Lay) get much secrete money from the company. In the case of decreasing of the companys stock in 2001, board members and senior employees obtain profit by cashing in share options, meanwhile, the rest of employees do not loss anything as they let their pension plans out of Enron stock. All in all, the shortcomings of the agency theory become obvious. In the first place, due to the asymmetric information system, the deficiency of agency theory that covers several aspects is become obvious. The first one is called moral hazard agency conflicts that are the root reason for the Enron failure. Moral hazard agency conflicts were mentioned by Jensen and Meckling in 1976. Moral hazard arises when the agents action, or the outcome of that action, is only imperfectly observable to the principal. A manager, for example, may exercise a low level of effort, waste corporate resources, or take inappropriate risks (Joseph Heath et al. 2004). Jenson (1986) hold the view that fresh cash flow will face much more difficulties from moral hazard problem in big and developed companies. In addition, moral hazard problem is relevant with the inefficiency of managerial effort. The motivation and enthusiasm of managers will be dropped off for small equity stakes they own. Thereby, company va lue will be affected or even harmed. The second one is named adverse selection. Adverse selection can arise when the agent has some private information, prior to entering into relations with the principal. Individuals with poor skills or aptitude will present themselves as having superior ones, people with low motivation will apply for the positions that involve the least supervision, and so forth (Joseph Heath et al. 2004). In the second place, shareholders, the owner of the company, are able to enjoy the companys residual claims. They shoulder the operating and capital risk rather than whole risk. Other stakeholders such as creditors, managers, employees who shares risks should be given the similar rights. Contribution of stakeholder theory According to the stakeholder theory, the objective of corporate existence is nor the shareholders only. The close nexus in the corporate social responsibility (CSR) that is the main stream of the corporate tendency is a apparent contribution of the stakeholder theory. A large number of literature and research find out that companies concentrate on CSR which is considered as origin of competition advantages is more likely to accept and get benefits. It is, to some extent, benefits the corporation as a whole, in the long runs at least. Changing the objectives of corporate governance from the maximize the interests of shareholders to maximize the value of the company. Stakeholder theory breaks through the traditional framework. The stake of firms owned by a large number of dispersed shareholders in modern enterprise. The maximization of the interests of shareholders does not mean the maximization of corporate value, or even damage the interests of other stakeholders, such as the hostile takeover. Stakeholder theory suggests that the other individuals and parties should also be considered stakeholders, such as creditors, employees, suppliers, customers, government and community, corporate governance should be the stakeholders of the coordination mechanisms of conflict of interest, balance and co ordinate conflict of interest to all stakeholders to maximize the benefits (Liu Dan 2003). The power of corporate is redistributed in the process of game among stakeholders. Modern companies are characterized by separation between ownership and control; thereby a principal agent relationship is formed between the principal and the agent. Unfortunately, the interests of these two parties are not always consistent. The managers tend to abuse their special power and damage the interests of shareholders by the reason of their insider status. The agency cost problem occurs when an efficient monitoring system is needed. The main purpose of corporate governance is not only monitoring managers effectively but also minimizing agency costs. The traditional way to adjust the dimension of the structure of the board of directors are enhancing the independence of the board of directors; improving the control of shareholders in order to strengthen their position; developing institutional investors to effective the rights of shareholders (Liu Dan 2003). But these ideas only deal with prob lems partly. It is difficult to change the level of corporate governance fundamentally. Stakeholder theory suggests that the key point of corporate governance is as follows: it is unavailable to deliver much more rights and control to shareholders. On the contrary, managers should be separated from shareholders who usually give pressure and leave enough rights and interests to other stakeholders such as employees, creditors and so on. For instance, one important programme is allowing the key stakeholders become the companys board of directors and supervisors by increasing the ownership and control of the company (Liu Dan 2003). The highlight of human capital is advocated in stakeholder theory. Traditional theory holds that the owner of firms is the investors who provide capital for firm; accordingly, the ultimate goal of company is to safeguard the interests of investors. Here the word capital is limited to physical capital, but not human capital. This argument is acceptable and suitable in the early era of large scale industrial machinery, while not appropriate and outdate in current era of knowledge economy. The existence and development of the organization is increasingly affected not only by the management degree of managers but also the advanced technology of workers. Technology and other human capital contribution to the enterprise are far more than physical capital (Liu Dan2003). Criticism of the stakeholder theory On the whole, stakeholder theory is incompatible with good corporate governance for it is with business (see Elaine Sternberg 1997). Accountability is one of the most important concepts in corporate governance. It consists of directors to shareholders, firm workers and other corporate agents to the incorporation as well. The notion that the owner of firms is responsible for their corporation is disapproved in stakeholder theory. On the other hand, what the stakeholder theory calls for is all the stakeholders are responsible for corporations. Such key principle is not realistic checked and work out wholly. Everyone take charge of company means no one will take charge of company. Various accountability make sense if all the stakeholders have a clear similar goal, otherwise it does not make sense at all. However, the stakeholder theory prefer to the later. More over, there is not an effective standard to judge and evaluate corporate agents given by stakeholder theory (Elaine Sternberg 1997). Duo to the unclear balancing stakeholder profits, it is not a good way evaluate objective performance of firms. It is discretional for managers to seek their own interests which are always selfish by using this method. Consequently, stakeholder theory has comprehensive control of haughty and selfish managers as well as lavishness wages, perquisite and premises. At the same time, the phenomenal of empire building acquisitions that make little business sense exists widespread in the stakeholder theory. Even though the original purpose and expectation of the stakeholder theory is hopeful, it is difficult to carry on and enhance corporate performance as well as corporate governance. Unlike the traditional theory which described that objective of firms is maximizing economic profits; objective in the stakeholder theory covers social, political as well as economic field. The efficiency of the business operation will be weakening in such situation. This leads to a dilemma for the company: firstly, pursuit of profit maximizing hence enhance the social costs and increase the loss of social welfare. Secondly, negative externalities of business activities will be reduced by using various types of control means, but they worse the inefficiency of economy. Conclusion To sum up, two popular theories used by corporate governance, agency theory and stakeholder theory are introduced and compared in this paper. The original purpose and expectation of these theories is to develop and enhance the level to corporate governance. The key diversity towards corporate interests between these two theories is: for agency theory, the interests of shareholders mean the corporate profits; with respect to the stakeholder theory, corporate interests should cover the profits of all the stakeholders. Different from traditional theories, agency theory pays unprecedented attention on information system, outcomes uncertainty and risk. These performance are beneficial for corporate alleviate or even avoid some conflicts and problems between principals and agents. However, after the case of Enron which is a characteristic failure, people become aware of shortcomings of agency theory. Due to the asymmetric information, moral hazard and adverse selection bring difficulties to governance. Even though, stakeholder theory does not have a clear notion about the quantity and quality of stakeholders, and it is, to some extent, unrealistic to carry on; the contribution of stakeholder theory can not be ignored. Changing the objectives of corporate governance from the maximize the interests of shareholders to maximize the value of the company. The power of corporate is redistributed in the process of game among stakeholders. The highlight of human capital is advocated in stakeholder theory. To c onclude, I pose that the stakeholder theory is much more appropriate for the modern companies for the long run.

The McDonaldization of Education Essay -- McDonaldization and Higher E

  Ã‚  Ã‚  Ã‚  Ã‚   Education remains a cornerstone for society as it has for decades. Technology advances, the economy fluctuates, and politics change, but education remains, not only important but imperative for personal and social growth. Yet, as important as it is touted to be, the quality and purpose of learning is often lost in the assembly-line, manufactured process of education that exists today.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  In a highly structured and economics-driven world, the educational system may be viewed as a machine designed to churn out future workers and employees. Like the fast-food industry, education has been standardized in an attempt to provide the comforts of efficiency, calculability, predictability, and control. In our aptly named McDonaldized society, aspects as important as quality are sacrificed in lieu of speed and profit. As far as education is concerned, however, this attempt to systemize and order something as complex as learning proves futile and detrimental to the basic tenet of enlightenment.   Ã‚  Ã‚  Ã‚  Ã‚  The standardization of the learning process proposes a simplified, singular approach to providing education to those who can afford it. Limiting material provided and lessons taught, tests, grading, function to create an easily controlled system. â€Å"Education† has been transformed and has come to connote â€Å"the transmission from a central source of knowledge to passive recipients† (McClellan. Online). However, the question remains whether this definition can actually suffice. The futility of a packaged education is put into context when it is realized that â€Å"meaningful learning, deep knowledge, collective wisdom and innovative action do not come from slick, pre-packaged course materials and efficient one-way transmission of information† but rather through the more complex idea called learning (McClellan. Online).   Ã‚  Ã‚  Ã‚  Ã‚  Unfortunately, the purpose of the education system, as seen in most institutions of higher education, is in fact to instill in people the notion that they are incapable of learning. The standardization of education highlights the underlying assumption that people â€Å"cannot learn without a pre-determined set of institutionalized options forced upon them† (Kyhall. Online).   Ã‚  Ã‚  Ã‚  Ã‚   The view of education as a commodity, rather than a means for intellectual, spiritual, or interpersonal growth, results in most educators and teachers offering st... ...onal and social growth.   Ã‚  Ã‚  Ã‚  Ã‚  The cost of McDonaldization is clear. In terms of standardizing education, the model is â€Å"anti-diversity, anti-creativity, and anti-democratic† (Kyhall. Online). As a whole, the consumption of the simple solution called education will not solve the problems. The modern world is much too complex to be solved in a single approach. Furthermore, education creates danger in the world by devaluing learning and dehumanizing people. Learning cannot be confined to formal allotments such as school or colleges, and in our changing times, it becomes even more imperative that education be not a product to sell but a tool to enlighten, a means to promote growth rather than division. This is the true purpose of education. And it does not come pre-packaged. Works Cited Gidley, J. and S. Inayatullah. Youth Futures: Comparative Research and Transformative Visions. (2002): 34. Kyhall. "The McDonaldization of Education" 15 Nov. 2012. Web. 28 Oct. 2014.    http://fundamentalsofsoc.edublogs.org/2012/11/15/the-mcdonaldization-of-education/ McClellan, Jock. â€Å"Metaphors, Words, and Models of a Wiser World.† The Swaraj Foundation. Web. 28 Oct. 2014.

Frankenstein is Not a Natural Philosopher Essay examples -- Shelley Fr

Smith’s article ‘Frankenstein and natural magic’ takes a literary approach to the analysis of ‘Frankenstein’ although this is supported by some background scientific knowledge. Through the article, Smith describes the impacts science has made on Frankenstein’s life . Smith plays close attention to Frankenstein’s childhood, where he discovered the ancient philosophers, and his Ingolstadt years. It is in these periods where Smith argues that Frankenstein is not a natural philosopher but a natural magician due to his affinity for the ancient natural sciences, the romantic genius he posses and by contrasting Frankenstein against traditional, enlightenment stereotypes of the natural philosophers within the text and the greater Socio-historical context. However, this is in contrast to the arguments of Sleigh, who by comparing Aldini to Frankenstein, attempts to rationalise his actions and draw parallels with the attitudes of the modern philos ophers. In Sleigh’s ‘Life, Death and Galvanism’ the analysis is significantly more scientific than Smith’s consequently this is done at the expense of true literary discussion and thus only brief passing references are made to Shelly’s ‘Frankenstein’ therefore the reader has to pry out comparisons between Frankenstein and Aldini. The article itself is the story of Aldini and his uses of Galvanism but it also draws on considerable philosophical ideas to analyse the thought process of Aldini. Like Smiths text, the article is chronological and details events from 1808 onwards. Her argument concedes that Aldini and Frankenstein may have had similar attitudes due to the nature of their work, their need for ‘Inspiration and their backgrounds. One could theorise that although Frankenstein shows to be mor... ...in. She argues that they have a similar attitude and their actions are only slightly dissimilar. Nonetheless, one can question the reliability of Aldini as a representative of natural philosophy because of Smith’s focal description of a natural philosopher, thus alerting us to Frankenstein’s incompatibility with the traits given to a natural philosopher. Thereby arguing that Frankenstein was no natural philosopher. Works Cited Shelley, Mary Wollstonecraft, and Joseph, M. K, Frankenstein; or The modern Prometheus. London, New York: Oxford University Press, 2008. Sleigh, Charlotte. ‘Life, Death and Galvanism.’ Studies in History and Philosophy of Biological and biomedical Sciences 29 (1998): 219-248 Smith, Crosbie. ‘Frankenstein and Natural Magic.’ In Frankesntein:Creation and Monstrosity, edited by Stephen Bann, 35-59. London: Reaktion, 1994. Frankenstein is Not a Natural Philosopher Essay examples -- Shelley Fr Smith’s article ‘Frankenstein and natural magic’ takes a literary approach to the analysis of ‘Frankenstein’ although this is supported by some background scientific knowledge. Through the article, Smith describes the impacts science has made on Frankenstein’s life . Smith plays close attention to Frankenstein’s childhood, where he discovered the ancient philosophers, and his Ingolstadt years. It is in these periods where Smith argues that Frankenstein is not a natural philosopher but a natural magician due to his affinity for the ancient natural sciences, the romantic genius he posses and by contrasting Frankenstein against traditional, enlightenment stereotypes of the natural philosophers within the text and the greater Socio-historical context. However, this is in contrast to the arguments of Sleigh, who by comparing Aldini to Frankenstein, attempts to rationalise his actions and draw parallels with the attitudes of the modern philos ophers. In Sleigh’s ‘Life, Death and Galvanism’ the analysis is significantly more scientific than Smith’s consequently this is done at the expense of true literary discussion and thus only brief passing references are made to Shelly’s ‘Frankenstein’ therefore the reader has to pry out comparisons between Frankenstein and Aldini. The article itself is the story of Aldini and his uses of Galvanism but it also draws on considerable philosophical ideas to analyse the thought process of Aldini. Like Smiths text, the article is chronological and details events from 1808 onwards. Her argument concedes that Aldini and Frankenstein may have had similar attitudes due to the nature of their work, their need for ‘Inspiration and their backgrounds. One could theorise that although Frankenstein shows to be mor... ...in. She argues that they have a similar attitude and their actions are only slightly dissimilar. Nonetheless, one can question the reliability of Aldini as a representative of natural philosophy because of Smith’s focal description of a natural philosopher, thus alerting us to Frankenstein’s incompatibility with the traits given to a natural philosopher. Thereby arguing that Frankenstein was no natural philosopher. Works Cited Shelley, Mary Wollstonecraft, and Joseph, M. K, Frankenstein; or The modern Prometheus. London, New York: Oxford University Press, 2008. Sleigh, Charlotte. ‘Life, Death and Galvanism.’ Studies in History and Philosophy of Biological and biomedical Sciences 29 (1998): 219-248 Smith, Crosbie. ‘Frankenstein and Natural Magic.’ In Frankesntein:Creation and Monstrosity, edited by Stephen Bann, 35-59. London: Reaktion, 1994.

Medical Testing On Animals :: essays research papers

Animals have been used in medical research for centuries. Most of the animals used for research are rodents - rats, mice, hamsters and gerbils. Some dogs, cats and a variety of goats, ferrets, pigeons, monkeys and rabbits are also used .The struggle against this tyranny is a struggle as important as any of the moral and social issues that have been fought over in recent years. Animal rights are an emotional issue-second only, perhaps, to the bitter abortion debate." For decades the value of animal research has been grossly overrated. Although researchers have depended on animal test data to achieve medical advances, there should be other means of research because testing on animals is cruel, inhumane, and often unnecessary. The American Medical Association believes that research involving animals is absolutely essential to maintaining and improving the health human beings. They point out, that virtually every advance in medical science in the 20th century, from antibiotics to organ transplants, has been achieved either directly or indirectly through the use of animals in laboratory experiments. They also emphasize that animal research holds the key for solutions to AIDS, cancer, heart disease, aging and congenital defects. Lastly they insist that, the result of these experiments has been the elimination or control of many infectious diseases. This has meant a longer, healthier, better life with much less pain and suffering for humans. For many patients, it has meant life it self.However, there should be other means of research because the whole process of animal research remains cruel and inhumane. Animal rights activists have gathered a large amount of information that has closed down many laboratories that violate anti-cruelty statutes. In the past, research labs have had to be subsequently suspended due to animal cruelty. Reports involving horrifyingly painful experiments on monkeys and the filthy laboratories the animals must live in. Animals limited to living in tiny metal cages in which they can barely move. From the capture of primates in the wild, to the "factory-like" breeding of mice and dogs, to the confinement and isolation of cages - research is inherently cruel.Animal research is often unnecessary, history has shown that many important medical advances have been made by clinical research and close observations of human patients, not animals. There are countries that don't use healthy animals to train veterinarians or teach surgical techniques. In England they use only sick or injured animals and do most of their work on animal cadavers.

Jetblue Airways: Starting from Scratch Essay

At the beginning, JetBlue management set the tone for themselves that they would be different then other airlines. To do that they set values for all employees from top to bottom to follow and they set up an attractive pay and a unique benefits package that would allow for successful recruitment and retention of employees, while significantly reducing the chance of a union moving into the organization. Equal Employment Opportunity Laws There are certain Equal Employment Opportunity laws that every employer should be aware of and use as guidelines when developing a working relationship with employees and perspective employees. These laws protect employers and employees and enhance the overall association between the two. Three Equal Opportunity laws that impact JetBlue’s hiring practices are: Title VII, Civil Rights Act of 1964, Amended 1972 One of many Equal Employment Opportunity laws, the Civil Rights Act may be the most important law as it prohibits an employer from discriminating against an individual based on race, religion, color, sex, and age. This protection from discrimination covers the areas of â€Å"hiring, firing, promoting, compensation, or in terms, conditions, or privileges of employment.† (Mondy, 2008) Americans With Disabilities Act, 1990 Simply put, this law prohibits employers from discriminating against anyone with a qualified disability. This law establishes that an employer must make reasonable accommodations for a disabled person in the workforce that does not create an undue hardship to the employer. Examples of those accommodations are updating facilities to meet the needs of the disabled employee; adjusting work schedules; and updating equipment that a disabled employee could use. Age Discrimination in Employment Act of 1967, Amended 1978, 1986 This law was created to protect employees over the age of 40 from employment discrimination based on age. The law also prohibits employers from forcing employees into retirement. The Age Discrimination Employment Act applies to both employees and job applicants. JetBlue’s Recruitment Efforts A key internal recruitment effort that JetBlue used was to seek referrals from existing employees. This effort is best illustrated with the pilots. JetBlue set out to hire employees who fit with the organization’s vision and in return they offered employees flexible time, pay and benefits and provided the pilots with updated technology and training. The goal of setting up Values and different employment packages was to show the staff that JetBlue cared about them. This in turn caused employees to be more loyal than at other airlines and soon word-of-mouth spread and people wanted to work for JetBlue. According to Dave Berger, JetBlue COO, â€Å"the happy pilots were a great source for recruiting their friends from competing airlines.† (Hoffer, 2001) Externally, JetBlue placed one classified ad in a Salt Lake City newspaper seeking interested applicants for the position of reservations agents. This â€Å"single local advertisement† resulted in JetBlue hiring over 500 reservations agents and collecting â€Å"a waiting list of 2,500 interested applicants†. (Hoffer, 2001)The one advertisement was so successful because it enticed prospective employees with a flexible work schedule, standard pay with a bonus if they took calls whenever needed, and they provided computers and necessary equipment to the staff members so they could all work from home. JetBlue’s Personnel Selection JetBlue created five Values that would be used to make decisions in all areas of the organization including Human Resources. Those Values are Safety; Caring, Integrity; Fun; and Passion. JetBlue then went into detail with the Values to develop standards of â€Å"desirable and undesirable behaviors† (Hoffer, 2001) and used those standards in asking prospective employees about past behavior. JetBlue set out to hire people who best fit those Values. When interviewing an applicant for a mechanic position, the applicant was asked to recall a time when â€Å"integrity was an issue in his previous employment.† (Hoffer, 2001) The mechanic described a time when he was pressured to sign off that an airplane was ready for an international flight when in fact it was not. The applicant explained he refused to certify the aircraft and was subsequently fired. JetBlue hired this applicant because he fit the Values of the organization. Ann Rhoades, executive vice president human resources, explains that she didn’t offer a prospective pilot a position because of what she perceived as his arrogance. Arrogance doesn’t fit into the Values JetBlue set for its organization. During an interview with a pilot applicant, the pilot was asked to discuss a time when he was encountered with a â€Å"customer request that was in conflict with company polices† (Hoffer, 2001) and explain how he addressed the request. His response was compared to the Values and whether or not it fit into the definition of desirable or undesirable behavior. JetBlue used a method of utilizing multiple interviewers and each of those interviewers had to agree before an offer of employment was made. Utilizing the group interview method, JetBlue was providing those employees on the team a sense of ownership and autonomy which further enhanced employee satisfaction. Three Factors that Influence a Performance Appraisal System When utilizing a performance appraisal system, an organization should be aware of the internal and external factors that influence the outcomes of such appraisals. One example is legislation. Any time an employer is dealing with an employee or potential employee, they must ensure they are not discriminating against any protected class. During the performance appraisal process, the employer needs to have systems in place that assures no discrimination or negative impact of a protected class or group occurs. These are the same requirements described above in the Civil Rights Act; Age Discrimination in Employment Act; and the Americans With Disabilities Act, 1990. Another factor to consider is labor unions. If an organization has a labor agreement with an organized union, they may get push back from the union on the subject of Performance Appraisals. Unions generally encourage pay increases and promotions based on seniority, not on merit. As such, they are known to oppose any type of performance appraisal system. A third factor is completely under the control of an organization and that is corporate culture. The culture within a company can have either a negative or positive impact on the performance appraisal system and is dependent on the attitude from the top down. Employees are likely to not have confidence in the performance appraisal system if the organization does not encourage an environment of high performance, teamwork, and personal development. The lack of support by the organization, builds mistrust by the employees in all areas of human resources. 360-Degree Feedback Evaluation The 360-Degree Feedback Evaluation is used for development of employees and teams and can be helpful in identifying target areas such as building on strengths of an employee or identifying and focusing development needs. By utilizing feedback of an employee’s coworkers, supervisors, and customers, 360-Degree Feedback provides a more balanced evaluation then one that could be influenced by a disgruntled supervisor, peer or customer. The system allows the organization to develop succession plans which is important internally and externally because it gives the employees confidence that the organization has future plans for growth. By using this system, a company can create a professional development and training program that is focused on employee needs, enabling the employee to be successful which in turn, helps the company be successful. Rather than relying on financial goals to measure an employee’s contribution to the organization, JetBlue utilizes the 360-Degree Feedback Evaluation process. JetBlue customized the process calling it the 320-degree feedback process, a play on the name of their aircraft, and uses it to determine whether or not employees are meeting the company’s five core values. Because these core values (safety, caring, integrity, fun, passion) all directly relate to peers, supervisors and co-workers, JetBlue is able to get a direct assessment of each employee’s performance and ability to meet the five core values. Employee-Related Factors Essential in Determining Financial Compensation When addressing the issue of employee compensation, an employer must first evaluate the job by conducting a job analysis to determine the requirements and conditions of the position. Once the analysis is complete, the employer is able to attract and retain qualified individuals. When hiring, it is important to consider the applicant’s experience, performance, skills and competency before determining the right compensation for the future employees. Experience Experience enhances an employee’s performance and is valued by employers. Determining if an employee has valuable insight and basic knowledge of the job is an important variable in establishing compensation. Performance Rewarding employees with pay based on their performance and productivity oftentimes motivates them to do better. Many companies use the merit-based system by rating employee’s performance and increasing pay. Skills Compensation is sometimes based on an employee’s ability to effectively show their ability to perform particular tasks. Competency Competencies are oftentimes associated with an employee’s attitude and values. Many companies find these competencies just as important as skills, education and experience. Discretionary Employee Benefits Discretionary benefits are just that, at the discretion of the company. They are not required by law, but are increasingly just as important to employees as is their pay. Discretionary benefits may include paid time off, profit sharing, and health care benefits. Paid Time Off To provide employees with a work-life balance, time away from work is oftentimes paid through vacation, sick or paid-time-off plans. The time off benefit is usually offered to full-time employees and allows for paid, stress-free rest time that benefits the employee’s mental and physical health. Employee time off also benefits the company because a rested, stress-free employee is more productive then if no time off or unpaid time off had been given. Profit Sharing Profit sharing is a plan that distributes a pre-determined percentage of profits to employees. For those organizations that offer profit-sharing, it is often only offered to full-time employees who have met a vesting period. Profit sharing not only incentivizes employees to meet corporate goals with the goal of achieving maximum profits, but it also benefits the company by valuing long-term loyalty. Health Benefits Having access to affordable health care is a priority for most people and is a great consideration for many when accepting a job. Many full-time and part-time employees receive this benefit from their employer throughout the United States. With the new National Health Care law passed last year, it will now be expected that employers provide some type of health care insurance coverage to their staff if the law is held up in court. JetBlue’s Incorporation of Discretionary Benefits JetBlue is known to provide generous discretionary benefits to all of its employees. These benefits include a flexible work schedule, heath care insurance, paid time off, and 401K plans. JetBlue set out to build employment packages that support the different needs of their employees. In setting up the varying types of discretionary benefits, JetBlue believed it would attract staff and create loyalty. An example is the type of packages offered to the flight attendants. There are several packages for the different types of people who may fill the flight attendant positions. A recent college graduate may not be looking for long-term retirement packages; a family-oriented staff person may be looking for flexible hours and healthcare benefits; and another may be looking for a career in the industry and would require long-term benefits such as a 401K. Each of these individuals would receive a package that is customized to meet their specific needs. The additional benefit of working from home for the reservation agents in Salt Lake City allows the employee flexibility that does not necessarily require them to change their family’s schedules which is a great benefit for many people. REFERENCES: Hoffer, J.G and O’Reilly, C. (2001). JetBlue Airways: Starting from Scratch. Boston: Harvard Business School Publishing. Pp. 58-77 (Hoffer, 2001) Mondy, R.W. (2008). Human Resources Management. Upper Saddle River, New Jersey. Pearson, Prentice Hall. (Mondy, 2008)