Legalizing Marijuana, Pro Essay Example | Topics and Well Written Essays - 1000 words

Sanctioning Marijuana, Pro - Essay Example Clinical science has received a wary methodology while managing the issues identified with authorization of pot. At the end of the day, clinical science neither totally restricts, nor it totally contradicts the sanctioning of weed use in America. This is a result of the way that controlled utilization of weed may bring a bigger number of advantages than hurt. Patients who are experiencing ceaseless agony might be profited, on the off chance that they are permitted to take maryjane in a controlled way. This paper fundamentally investigations all the elements of this dubious point and contends for legitimizing of cannabis in America. Pot use is legitimate in fourteen American states at present. â€Å"The 14 expresses that have authorized maryjane for therapeutic intentions are Alaska, California, Colorado, Hawaii, Maine, Michigan, Montana, Nevada, New Jersey, New Mexico, Oregon, Rhode Island, Vermont, and Washington†(Hall and Schiefelbein, p.197). It is strange to contend that t hese states authorized maryjane use without a profound report. As such, these states may have led numerous examinations before sanctioning the utilization of cannabis in their regions. â€Å"The cannabinoid medicate THC has been affirmed by Food and Drug Administration for use in alleviating sickness and regurgitating and expanding craving in individuals with malignancy and AIDS. Testing of other cannabis removes is still in the early stages† (Find backing and treatment). ... An unadulterated planning of the significant dynamic part, delta-9-tetrahydrocannabinol (THC), Marinol or dronabinol, is accessible for rewarding sickness and heaving related with malignant growth chemotherapy and as an assistant to weight reduction in patients with squandering disorder related with AIDS. Albeit such endorsement as of now applies just to orally controlled THC, for down to earth purposes smoked pot ought to likewise be relied upon to be similarly successful (Holister, p.5). The acknowledgment of maryjane among American individuals is developing step by step. â€Å"A late Gallup survey found that a noteworthy high of 46 percent of Americans favor authorizing the drug† (Abramsky, p.18). Under such conditions, restriction of pot power individuals to gather pot from unlawful sources. Assortment of maryjane from unlawful sources may cause tremendous assessments to the legislature. Clements et al (2010, p.20) called attention to that â€Å"taxing cannabis at a simil ar rate as tobacco is assessed to yield extra income of about 24% of the prior continues from tax collection from tobacco and alcohol†. An ongoing report assesses that a state could gather charge incomes in the $650 million to $760 million territory, if maryjane use is legitimized. Besides, law authorization expenses would decay by a few hundred million dollars for each year while legitimizing weed (Abramsky, p.18). From the above discoveries, it is apparent that authorizing of maryjane would assist a legislature with increasing assessment income and diminish consumption for the law requirements. It ought to be noticed that a lot of endeavors and assets are vital for the administration to hold onto unlawful maryjane assortments and to authorize the law. Such consumption can be stayed away from

Never let me go book report free essay sample

Never let me pass by Kazuo Ishiguro is about a gathering of human clones in a tragic culture raised distinctly to become organ givers. The plot makes debate. In the book, the clones are introduced as sub-human and not allowed to be considered as equivalent to normal people. Along these lines, it gets adequate for them to kick the bucket a short life with the goal for others to live a more drawn out one. It is here where we become mindful of one topic, the poor treatment of those we accept to be underneath us so as to excel on the planet. Another topic we can discover in the book is that of similarity. We locate that multiple occasions the characters appear acknowledge their destiny, without truly setting up quite a bit of a battle. They all appear to acknowledge their destiny as contributors and the certainty of their downfall at 30 years of age. This is particularly present in today’s society, the same number of individuals would prefer to be viewed as ordinary than unusual and consequently adhering to business as usual. We will compose a custom article test on Never let me go book report or on the other hand any comparative subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page My preferred topic in the novel and the one I will develop is the personality emergency the primary characters and generally the clones have all through the book. This piece of the novel I feel truly identifies with this present reality and how a ton of people battle to turn into their own individual. Regularly glancing in different spots to mix into their characters. These subjects become reasonable through Kathy’s eyes. As the primary hero of the book, never really getting for all time connected to the circumstance commonly just depicting her perceptions and investigation of it. At that point proceeding onward to the following stage in her life. This topic reverberates inside me, since I have experienced a similar personality emergency sooner or later of my life and regularly overlook who I am in certain conditions. I additionally feel that the most piece of the world has likewise encountered this. This doesn't just relate to people, yet can be applied to nations also. The fundamental topic I’d like to talk about is the personality emergency experienced by numerous characters inside the book. Kathys personality search is inspired by sentiments of being distant from everyone else in her own viewpoint. The sexual wants she encounters as young ladies upset her when she can not get approval from Ruth, another principle character in the novel, that they are normal. Ruth, seen as a social chief in the gathering, shows certainty however is in truth uncertain of who she truly is. Through Kathy’s eyes we see how Ruth frequently copiesâ her characteristic from more established clones and TV characters. Ruth depends much on others to characterize her own personality. Indeed, even Tommy, who recognizes what his identity is, however experiences difficulty trusting it since he figures others don't think the equivalent. There are numerous entries in the book that suggests this subject. Ruth states on page 120-121 in last section, â€Å"There was something I saw about these veteran couples at the cottages†¦ and this was in what capacity a large number of their characteristics were replicated from the television†¦ the manner in which they motioned to one another, sat together on couches, even the manner in which they contended and raged out of rooms. † Even different characters notice this and attempt to fix business as usual. Miss Lucy, a watchman for the clones, lets them know on page 80, â€Å"If you’re to live average lives, you need to know what your identity is and what lies in front of you, all of you. † The main statement shows how individuals that don't have the foggiest idea what their identity is and are hard press to figure out how to individualize themselves may look to outside sources. The characters are looking for what makes them not quite the same as different clones and even the individual they are cloned from. They would like to discover an explanation behind their reality, much like residents in reality do. Nations likewise do this as it were. It could be by singular inspiration or outside impact. Littler third World Countries will attempt to show themselves after first world Countries accepting they will partake in a similar achievement. This causes a personality emergency for their nation. They have their own way of life that isolates them from the rest, yet displaying themselves like another could modify the way of life and lead to a lost in character. This kind of marvels has occur before and could happen once more. This theme raises numerous inquiries in my psyche. How the bigger first world nation impacts the personality of a third world nation? I feel if the more impressive nation truly needed as well, they could have the third world nation model themselves after the first world. Which I believe is the thing that frequently occurs, so they would more be able to impact in structure of the world. How can one make their own character is another inquiry I would pose. Whenever permitted to with no outside impacts, what character would an individual or a nation take on? I’d like to grasp what having a character truly implies.

Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021 Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021"> During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . Happy New Year, Hultians! . Happy New Year, Hultians! .

General Dwight D. Eisenhower Free Essay Example, 1250 words

This was a move to incapacitate the reinforcement of the Germans. Being an intelligent leader General Eisenhower decided to have a hoax so that the German soldiers were confused of when the attack was to take place (Brendon, 1986). On 5th June 1994, he decided to launch the attack whose major aim was to invade the Normandy coast on 6th June 1994. Some soldiers had earlier prepared on 4th June the same year. Prior to the invasion General Eisenhower could receive meteorological data concerning the area after every three hours. Being the successful military leader he was the general decided to write a separate speech that he would use in any case the operation failed. He continuously appreciated the soldiers and gave them psych as well as words of hope so that they could not give up (Brendon, 1986). As Brendon (1996) points out, he also had plans and could foresee that delaying the operation till 7th would impact the morale of the allied soldiers as well as give the German Nazis time t o know about the attack and prepare handy. This decision was made with consultations and discussions from other commanders as well as Admirals such as General Montgomery, Major General Walter Smith, and Admiral Ramsay. We will write a custom essay sample on General Dwight D. Eisenhower or any topic specifically for you Only $17.96 $11.86/pageorder now He was aware of the wide coverage in terms of geography of the area of attack as well as the vastness of his decision. Consequently he wrote a speech just in case of failure of the Allies in the D-day operation in Normandy. The speech which was prudently written acknowledged the tireless effort of everybody who had some hand in the operation. He appreciated the informants too. He did not fail to recognize the navy as well as the air force finalizing the speech with a statement that would shoulder the blame upon him for all the failure. However, the speech did not get position in the plan since he was so sure of victory being that through the studied weather patterns he concluded that the Channel was prone to storms in late June. Field Marshal Edwin Rommel who would have also been a threat was not present in honor of his wife’s birthday on 6th June. The latter was posted to develop the Atlantic Wall. According to Korda & 3M Company (2009), the leadership skills of General Eisenhower were amazing. First off he was brave as shown by the manner in which he planned the operation. Secondly, he was devoted to duty and always yearned and looked up to victory. Thirdly, he continuously motivated his soldiers no matter what happened. Finally, he was ready to take the blame should there have been failure and above all he acknowledged God in his operations.

Why Is It Important to Study the Media, Rather Than Simply...

Everyday we encounter the media in some form. It could be waking up to the sound of the radio, or passing billboards in the streets or simply just watching television. They are a lot of different forms of media, for example, verbal or written media, visual media and aural media. Examples of media would include newspapers, magazines, film, radio, television, billboard advertisements as well as the internet. Media studies came about because of the developments in mass communication and it provokes the generation of exigent questions about what we think we know as well how we came about knowing it. There are always changes in the media and the term media refers to the many ways of physically forming meanings as well and carrying them. The†¦show more content†¦Since there is no single interpretation of reality, it is crucial to understand how media texts are used in order to make sense of the world we live in. We have to try to understand the elements of language and culture, th e form and context that shape the meanings that are available to us. The text is likely to be interpreted through genre (the different codes producers and audiences communicated with) and context, which are divide into 3 levels : The rest of the text, the genre of the text, the winder public context in which a text is circulated (McKee, 2001). It is also important to study the media as the media industries now rely more on freelancers and because of the vast advancement in other industries, freelance work has become more in demand and it is a flexible career and this appeals more to people today. Studying the media is also a very good way to understand the different jobs in the media industries and how these works are changing. The film and broadcasting industries have been predicted to face a shortage of skills it the time to come and therefore will be in need of people who are literate about the media. However, getting a career is not only the importance of doing media studies. Some point in our lives we would have to engage with the media in some form, not just as a consumer or audience but perhaps a producer. Media studies is a course that is rather challenging and it will somehow make aShow MoreRelatedWhy is important to study the media, rather than simply consume it?1631 Words   |  7 PagesThe media is a dynamic e ntity inherent in society that is both powerful and important. It demonstrates this by playing a vital role in the development of a person s perspective on political, economic and socio-cultural issues. This consequently helps to shape individuals viewpoints of the world and define their lives through the interpretation of media texts. (Newman, 2004). Bazalgette supported Newman s point by stating Media studies open up your understanding of how things work, how peopleRead MoreHow Media Influences The Minds Of All Who Consume It1569 Words   |  7 Pagesthat is not simply receiving information and believing it (such as a sponge), they are active in their interpretation of the text, meaning they are able to dissect the text and come to their own conclusions. On the contrary, a Passive audience member simply soaks up all information shown to them in a media text without any user interaction, just as the creator of the media form intended. Different scholars have differing theories on how the media influences the minds of all who consume it, and itRead MorePieter1307 Words   |  6 Pagesâ€Å"Whoever controls the media, controls the mind â€Å" Jim Morrison Media Studies Course Outline Media Studies Core Concepts Media Studies Assessment Checklist COURSE OUTLINE â€Å"The media’s the most powerful entity on earth. They have the power to make the innocent guilty and the guilty innocent, and that’s power. Because they control the minds of the masses.† Malcolm X Mass communication to Everyone. Disseminating Information to a wideRead MoreThe Importance Of Media Literacy1737 Words   |  7 PagesIndeed, the pervasiveness of media in its abundant forms in contemporary US culture is undeniable. Almost everywhere one looks, one can find forms of media; a magazine at a doctor’s office, a billboard alongside a freeway, a painting at an art gallery, a performance on television or on stage. Media, undeniably, is ubiquitous. However, in all the innumerous forms media comes to us in, every one of these forms is created for a single purpose; to communicate an idea or message. Thus, it the individual’sRead MoreSocial Media Has Changed The Landscape Of The Media Environment984 Words   |  4 Pages Social media has changed the landscape of the media environment, and the way millions go about obtaining their news. Technology has now made it possible to speak to a large amount of people at one time. With a proliferation of new technologies social media platforms are uniquely positioned to capitalize on the communication aspect of social media, which makes it exceptionally influential. Many of us are familiar with the term social media, have used social media, but could not readily defineRead MoreImpact Of Fast Food On Teens1076 Words   |  5 Pagesit but just so we are like the other person we buy it. â€Å"Results from the study also indicated that fast food ads on the Internet led to increased consumption of the foods†,indicate National Academies the results of this study show that ads have the biggest impact on teens than television and or newspaper does. Another thing is that teens tend to see food that other people are eating and since they have seen it in the m edia it impacts them more. Most of the time it is famous people who influence teensRead MoreHome Is A And A Fire1599 Words   |  7 PagesWhen did the idea of â€Å"home† become embedded in our conscious? In the earliest history of our ancestors, home may have been simply a small fire and the light it cast on a few familiar faces, surrounded perhaps by some ancient cave that they constantly go back to. Nowadays, the definition of home is solider than simply just a cave and a fire. Home is a place which brings back good memories, it is a symbol of comfort and wellness. Consider the word home. Picture it: a well trimmed green lawn, a whiteRead MoreFraming and Agenda Setting Bias in News Media Essay1540 Words   |  7 PagesFraming and Agenda Setting Bias in News Media The Hutchinson Commission on freedom of the press best defined news in 1947 as a truthful, comprehensive, and intelligent account of the days events in a context which gives them meaning.Journalism in todays news is not the same as it was over half a century ago. The Fairness Doctrine, which was eliminated in 1987, was a policy that required the holders of broadcast licenses to both present controversial issues of public importance and to do soRead MoreGenetically Modified Organisms ( Gmos )1619 Words   |  7 Pagesintroduction of GMOs in the 1990s, it has elicited numerous debates from nutritionists, farmers and health experts all over the world. Others like the US government terms the organisms as safe and citizens can use them for food (McCluskey, 2014). Other than the EU and Japan, environmental groups such as the Greenpeace and friends of the Earth resist GMO use as they express concerns over the unknown environmental and health impacts (McCluskey, 2014). Besides, these organi zations against the GMOs have worriesRead MoreUnderage Drinking And Teenage Drinking1584 Words   |  7 PagesAlex Wilmore Joshua James, Instructor ENG 111 07 July 2015 Underage Drinking â€Å"With such compelling information, the question is why haven t we been able to do more to prevent the crisis of underage drinking? The answer is: rising the age to 25† is what Lucille Roybal-Allard once said, a U.S. Representative for serving in Congress since 1993. This statement has brought many to speculate of issues and debates. This expression opened the eyes of American people that often struggled to make this truth

Some Parts of My Ojt Essay Example For Students

Some Parts of My Ojt Essay Aside from the high evaluation grade that you will receive from the employer, the employer may absorb or offertory a job after graduation. 2. Your background JOT experience is very important when applying a job. Employers often ask about the JOT experience and how it is related to the job that you are applying for, 3. The CO T experience that you had can land you a great job, Especially if you applied for a job that is in line with your JOT. 4. Your superior in the company that you trained at may recommend your skills to company affiliates or other companies. 5. CO T Will be your training ground. If you still have no idea on What it means to be a worker, JOT will open your eyes to at least 10% of work realities. 6. You can consider your JOT experience as your guide on your first days at work,especially if your JOT work and current work are related. You can use experience gained from JOT as reference to your current job if you still have issues on adjusting to the real job. 7. Having a good performance during JOT.

Should prostitution be decriminalized Essay Example

Should prostitution be decriminalized Essay Because the U.S. may have to decriminalize prostitution per U.N. Treaty, the subject has received much attention in recent times.   If the U.S. Senate passes the UN Convention that was adopted by the U.N. General Assembly and has been signed by 165 countries this could force the U.S. to acknowledge voluntary prostitution as a legal women’s choice as well as a women’s right to choice of abortion (sexwork.com, 2006).This paper debates whether the acknowledgement of this really is in the best interests of the United States of America, looking at statistical evidence and giving argument for both negative and affirmative answers on this question. It supplies motivation for this and draws a   conclusion based on argument presented herein that prostitution in America should not be legalized.Prostitution in America has a long history. It began as a European import to North America. During the 1700s, due to the stationing of soldiers in New York and Boston these cities had t he most prostitutes. After 1810, prostitution became both a political and social problem. Prostitution rose due to rapid urbanization, expanding male population, low female wages and discrimination against women (publicia.state, 2005).   Anything with such a long history cannot be expected to just go away and will have to be dealt with sensitively.Current law in America regarding the issue stands as follows:   Prostitution is illegal in all states except Nevada, where it is strictly regulated. Some state statutes punish the act of prostitution, and other state statutes criminalize the acts of soliciting prostitution, arranging for prostitution, and operating a house of prostitution. On the federal level, the Mann Act (18 U.S.C.A.  § 2421 [as amended 1986] makes it a crime to transport a person in interstate or foreign commerce for the purpose of prostitution or for any other immoral purpose (West, 1998).Bearing the above in mind, there are a number of questions, moral, ethical , and perhaps legal in nature surrounding this issue which must be answered before any sort of satisfactory resolution to this question can be achieved.   Some of these are raised in this paper.As with any situation, there are various pros which can be said to go in favour of the legalization of prostitution.   There is no doubt that prostitution is the oldest â€Å"profession† known to mankind, and that there is a market for it.   I use the inverted commas because there is debate as to whether or not it can be considered to be a profession.   The legalization of the â€Å"profession† would allow the money which is spent on all the legalities to be put towards prevention and rehabilitation.   In addition, the danger of the underground would be eradicated. There are other arguments for the legalizing of prostitution.As reported on the Sex Work and Sexual Exploitation in the European Union website, Jo Bindman and Jo Doezema, in Redefining Prostitution as Sex wo rk on the International Agenda, argue that the designation of prostitution as a special human rights issue, a violation in itself, emphasizes the distinction between prostitution and other forms of female or low-status labor however exploitative they are. They go on to back this up by stating that it thus reinforces the marginal, and therefore vulnerable, position of the women and men involved in prostitution. By dismissing the entire sex industry as abusive, it also obscures the particular problems and violations of international norms within the industry which are of concern to sex workers.  Thus anything but legal status for sex workers leads to marginalization and abuses. Obviously the legalization of the â€Å"profession† would mean that rules, guidelines, and governing bodies would be implemented in order to oversee it.   Some people feel that the police should rather be spending their time going after harder criminals (Voices of Youth, 2006).There are a number of h istorical American cases which have a bearing of the current state of American law, with results on both sides of the argument.   For example, in Griswold v Connecticut, in 1965, Griswold and her colleague were convicted under a Connecticut law which criminalized the provision of counseling, and other medical treatment, to married persons for purposes of preventing conception,   promoting the right to privacy (Oyez, 2005).In the case of Roe v Wade (1973), the Court held that a womans right to an abortion fell within the right to privacy (recognized in Griswold v. Connecticut) protected by the Fourteenth Amendment. The decision gave a woman total autonomy over the pregnancy during the first trimester and defined different levels of state interest for the second and third trimesters. As a result, the laws of 46 states were affected by the Courts ruling (Oyez, 2005).But these do not apply to prostitution because they are not form of a profession. It is rather closer to slavery sinc e customers have control over them. Lawrence v. Texas says that people have sexual privacy (the Court reasoned that the case turned on whether Lawrence and his male lover Garner were free as adults to engage in the private conduct in the exercise of their liberty under the Due Process Clause) (Oyez, 2005). This also does not apply to prostitution because prostitution affects the public in a negative ways.Many incidences of prostitution are also linked to other crimes, such as rape, kidnapping and drug use.   There is a theory that the legalization of prostitution would lead to a reduction in children being kidnapped or sold into slavery, and this is at best very optimistic, and at worst dangerously laughable, and negligible. Pedophiles and the slave trade exist on their own independently from prostitution and are issues that need to be addressed on their own.Drug abuse and prostitution have also been linked.   For many people the side effect of drug consumption is to want to hav e sex, and if they are receiving payment for this, they can use it as drug money – a vicious circle. Injection drug use is high in these circles.   In â€Å"Examining the Criminal Careers of Prostitutes within the Nexus of Drug Use, Drug Selling and Other Illicit Activities, Sheila and Christopher Maxwell report that half of the women who reported regular drug use also prostituted (Maxwell and Maxwell, 2000).Based on the above argument that the legalization of the â€Å"profession† of prostitution would in fact increase the number of women participating in it, injection drug use too would increase.   Drug users who are not prostitutes could even consider becoming prostitutes since legalization in order to get money to fund their drug habit.Consider the following statistics, bearing in mind that prostitution is illegal in America currently.   There are about 1 million (or 1%) women who are prostitutes in North America alone.   In addition, approximately 600,000 children under 18 are involved in either pornography or prostitution (the average age of entry into this is 14). Most prostitutes who are addicted to drugs or alcohol became addicted on the streets, rendering them even more trapped so that they can earn money to support these habits.   90% of these women are controlled by a pimp.   The average cost of arrest, court appearance and incarceration costs amounted to nearly $2,000 in 1987.   Expenditure per city on prostitution control ranges from $1 million in Memphis to $23 million in New York.   Finally, every year, a prostituted women is raped 19 times, kidnapped ten times, and beaten (Veronica’s Voice, 2006).Having borne all of the above in mind, questions must be asked.   How would the legalization of prostitution help this?   Surely these statistics would just increase should prostitution be legalized, as the legalization of prostitution could be taken by members of the public as a condoning of it.   Then ther e is the question of morality.   If we believe prostitution is immoral, would it be right to legalize something which we believe is immoral?If prostitution was legalized, would the youth then take it that it was an acceptable way of making money and would they then be even more then be drawn into it? These are just some of the questions surrounding a highly controversial issue. Some people believe that prostitution increases the breaking up of families, and an increase in the divorce rate as they say that the legalizing of prostitution would lead to an increase of infidelity amongst men.Certainly if the legalization of the â€Å"profession† leads to an increase in prostitution levels, then the levels of the transmission of sexually transmitted diseases and rape and violent sexual crimes would also increase.   It seems that there are more cons than pros associated with the legalization of prostitution.One way of answering at least some of the questions surrounding the issu e would be to analyze other countries where prostitution has been legalized and try to ascertain what lessons have been learned there.   Has prostitution lessened, or become less threatening for those involved in it in countries where it is now legal?   From information obtained for the purposes of this research, it seems not.Take for example New Zealand where prostitution was legalized a number of years ago.   The following is part of a   comment which was obtained from the Voices of Youth website, where it was posted by a New Zealander:   I come from New Zealand, where prostitution became legalized just a few years ago!. The issue now in my country is the large number of under-age girls as young as 12, selling themselves on the streets. They are being pimped out by gangs, in return for drugs and money (Voices of Youth, 2005).This seems to bear out the theory that legalizing the â€Å"profession† makes it more acceptable and draws children into it from an even youn ger age (12) than is the average age for children in North America entering into it (14).   Legalization of prostitution could send quite a mixed message to the members of the public, in particular the youth.   It would have the effect of teaching children that they don’t have to study, work hard and get a qualification in order to make money and get what they want in life.   It teaches them that they can make money by the sale of their bodies, and if they never get an education, they will never be able to get themselves out of it.  Ã‚   We must be careful to not give our children the wrong message   Legalization of prostitution can make children think that we not only condone it but also think that it IS moral.The fact does remain however that New Zealand appears to be a country which has legalized prostitution with the fewest conditions imposed – even street prostitution is legal there.   Other countries such as Canada, England, France, Wales, Denmark, a lot of South America, Israel, and Australia (sexwork.com, 2006), have all legalized prostitution, with varying results.     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Consider the case of a 25 year old waitress who turned down a job providing sexual services in Berlin, Germany, where the â€Å"profession† has been legalized. Under laws passed in Germany earlier this year she faces possible cuts to her unemployment benefit.Prostitution was legalized in Germany just over two years ago and brothel owners – who must pay tax and employee health insurance – were granted access to official databases of jobseekers.The waitress, an unemployed information technology professional, had said that she was willing to work in a bar at night and had worked in a cafe.She then got a letter from a job centre which informed her that an employer was interested in employing her. It asked her to call him. She did so, and only then realized that the company was a brothel.Under Germanys welfare reforms, a woman under 55 who has been unemployed for more than a year can be forced to take any available job, including in those in the sex industry – or lose her unemployment benefit (telegraph.co.uk, 2005).It would seem that even in a country where laws about prostitution have been passed, one can still be forced into prostitution!   In no way does this help alleviate the notion that prostitution is in fact a form of slavery.   If this notion was upheld, the legalization of prostitution would be contrary to the abolishment of slavery.   Nonetheless, America is one country out of a very few remaining where prostitution has not been legalized.The Ciao website ran a survey asking people what their opinion on the legalization of prostitution was, and some interesting points were brought up, including the religious aspect.For example, Christianity teaches that sex is something sacred, to be shared between a man and his wi fe. Other religions purport the same thing.It is not necessarily the anti religious aspect of the â€Å"profession† that is the problem, but possibly more the fact that by legalizing it we are obliquely encouraging people to revolt against societal teachings and disciplines. Whereas churches, governments and other organizations to which people turn to for assistance should not turn prostitutes away, this condoning of a religiously frowned upon â€Å"profession† in a society which in some circles is thought to already be lacking in discipline can not be considered to be a good thing (Ciao 2006).Another interesting point raised by a respondent to the survey was that if the law says that prostitution is legal and is a â€Å"profession† to be condoned, how can we as parents, guardians and advisors to children, advise them against it?   The argument that â€Å"the Government says it’s okay but we say it’s wrong† does not hold much influence wit h teenagers – it’s a known fact that teenagers on the whole are looking for reasons to rebel against their parents and for the most part will side with others who disagree with them (Ciao 2006).It also seems that the legalization of prostitution may also lead to the legalization of abortion, an issue which must be given due consideration before any decisions are made.One cannot simply say that legalization is not the answer, without giving some feasible solutions.   Perhaps aspects such as an education drive, showing people how to empower themselves, rather than how to sell themselves, could be embarked upon. Both adults and children need to be focused upon.   A â€Å"help them help themselves† attitude may be adopted.   Flyers and literature could be distributed advertising the initiative. Funding, adult education and job creation in more acceptable sectors could be used as motivation to get women out of prostitution.   Public awareness drives could als o be beneficial in helping those who would like to counsel family members and friends about staying out, or getting out of prostitution.ConclusionAt this point the question of the legalization of prostitution in America can only be resolved by assessing whether the surrounding questions and facts give more weight to the pro side or the con side.   Based on the above discussion, the author feels that prostitution in America must not be legalized, as the risks and moral issues associated with this outnumber the advantages associated with it. The country could redress the problem by looking at other factors such as education and empowerment.

Wentworth Medical Center Essay Example

Wentworth Medical Center Essay Example Wentworth Medical Center Paper Wentworth Medical Center Paper Essay Topic: Medical In this case we looked at data from a long-term study of individuals 65 years of age or older, sociologists and physicians at the Wentworth Medical Center in upstate New York investigated the relationship between geographic location and depression. A sample of 60 individuals, all in reasonably good health, was selected; 20 were residents of Florida, 20 were residents of New York, and 20 were residents of North Carolina. From the data collected we could know that the higher test scores indicate higher levels of depression. The descriptive statistics of the data collected are as following: GROUPSSIZESUMMEANSAMPLE VARIANCE FLORIDA2088.504.423.81 NEW YORK20131.536.583.95 NORTH CAROLINA20137.096.852.31 For the second part of this study, we considered the relationship between geographic location and depression for individuals 65 years of age or older who had a chronic health condition such as arthritis, hypertension, or heart ailment. A sample of 60 individuals with such conditions was identified. 20 were residents of Florida, 20 were residents of New York, and 20 were residents of North Carolina. The descriptive statistics of the data are as following: GROUPSSIZESUMMEANSAMPLE VARIANCE FLORIDA20284.7114.2415.88 NEW YORK20313.1515.669.82 NORTH CAROLINA20321.0116.0512.79 In both of the two tables above, we found that the residents in Florida shows the lowest mean scores than either of the other states, implying that the level of depression is lowest than others. Compare these two tables, we found that the depression mean scores and variance of health individual is far lower than the individuals with chronic health problem. First, we determine if there is any difference in depression means for the three states within the health individuals, we have conducted the following hypothesis test, with the level of significance 0.05: H0:  µ1 =  µ2 =  µ3 Ha: Not all are equal where:  µ1= population mean of depression scores in Florida  µ2= population mean of depression scores in New York  µ3= population mean of depression scores in North Carolina We use Analysis of Variance to determine whether the observed differences in the three sample means are large enough to reject H0. SSDFMSFF CRITP-VALUE TREATMENT70.75235.3710.543.160.00 ERROR191.38573.36 TOTAL262.1359 The sampling distribution of MSTR/MSE is an F distribution with numerator degrees of freedom equal to 2 and denominator degrees of freedom equal to 57. From the ANOVA table above, we found that the p-value for this test is equals to 0 which is less than the level of significance of ÃŽ ±=0.05. As a result, we reject H0 and conclude that the means of the three depression levels between difference states are not equal. For further test, we need to determine where the differences occur. We use Fisher’s LSD procedure to make three pairwise comparisons: Test 1 Test 2 Test 3 H0:  µ1 =  µ2H0:  µ1 =  µ3H0:  µ2 =  µ3 Ha:  µ1 ≠   µ2Ha:  µ1 ≠   µ3Ha:  µ2 ≠   µ3 where:  µ1=population mean of depression scores in Florida  µ2= population mean of depression scores in New York  µ3= population mean of depression scores in North Carolina We use the level of significance of ÃŽ ±=0.05. The value of LSD in this case is equals to 1.16. We only reject null hypothesis when test statistic |xÌ„i xÌ„j| LSD. The calculated results are as following: Test StatisticLSD Test 12.151.16 Test 22.431.16 Test 30.281.16 The difference between the mean for population 1 and population 2 are greater than LSD, which means we can reject null hypothesis and conclude that the mean for population 1 is not equals to population 2. Similarly, with the difference between the sample means for population 1 and 3 is 2.431.16, we can also reject null hypothesis. But in test 3, the difference between the sample means for population 2 and 3 is 0.280.05). As a result, we could not reject null hypothesis, and conclude that there is no difference between the mean of depression levels of the individuals who had a

Human Sexuality Essay Example | Topics and Well Written Essays - 1250 words - 1

Human Sexuality - Essay Example Men do not seem to have as many body images as women do. Men and women do think about their bodies differently. Men seem to be more confident that women. I believe this is a society stereotype. Men are never portrayed as too old. An example would be Hugh Hefner. Despite looking like an old man, Hefner is always surrounded by young women. Not just one young devotee, but Hefner is dating three or four women at a time. I believe in this instance it is Hefner’s confidence, not his looks that make him appealing to women. His money does not hurt either. On the other hand, when an older woman dates or marries a younger man, like Demi Moore and Ashton Kutcher, the woman is a cougar. Even Demi has tried to keep up a youthful image with cosmetic surgeries. Women are more pressured to look young. Another way that men and women differ about their body image is weight. An overweight man can still attract women. In restaurants or in public I have observed fat men show up with a date more than fat women. This is reflected in the media as well. For example Kevin James, James Gandolfini, and other actors are shown with skinny partners on and off the screen. They also get more press than heavy female stars. I also feel that race has to do with body image. African American women are more comfortable with their bodies than white women. No matter the size, African American women wear makeup, dress up, and portray a sense of pride. Heavier white women tend to wear baggy clothes, no makeup, and try to hide themselves from society. Black men seem to accept heavier women and find that more attractive. White men want skinny women with big breasts. Another body image point that Americans perpetrate is the tanned blonde that stands about 5’10 and weighs about 100 lbs. Ethnic models are sometimes accepted if blue eyed, but dark black models are discouraged. Ethnic hair is also discouraged. African American women wear wigs and straighten their hair. I

Compare and contrast Confucianism, Daoism, and Shinto Essay

Compare and contrast Confucianism, Daoism, and Shinto - Essay Example etween them, namely a specific understanding of human nature and the characteristics of its relationship with the divine law either through the human mind (Confucianism) or by means of mystical knowledge (Daoism and Shinto). Confucians believed that the true essence of people is humanity or â€Å"jen† (Fisher 209). Self-cultivation was understood as the development of a â€Å"humane† beginning and the suppression of wild and evil factors. By the time of the emergence of Daoism, Confucianism was the official doctrine and the basis of the state structure. The ideal of Confucianism was presented by a notion of a â€Å"noble man,† the carrier of Confucian consciousness responsible for the harmony between Heaven and human nature. His virtues were seen in self-control, justice, reverence for elders, and social responsibility. His goal was public service since in Confucian ethics person is subject to the society (210). Confucian culture is elitist, since the main area of its distribution was presented by noble people (mainly officials engaged in the administration of the state). As a result, this led to a desire to govern all possible spheres of human life. These changes were achieved by l imiting the undesirable factors, mainly through the assimilation of norms of behavior and control (first external and then internal). The main virtue of a noble man was considered a permanent control over his/her own mental sphere and preservation of self-control. In this regards, introspection was designed to detect human failings. In turn, Daoism, also condemning human passions, understands the true human nature in its close connection with the cosmic principle that embodies universal laws of nature. The supreme goal of Daoism is the detection and the actualization of the â€Å"true principles† in man and complete submission to them. Man needs should seek to merge with the divine Dao, â€Å"a mystical reality that cannot be grasped by the mind† (195). There was initially no question of

Organizational Responsibility and Ethics Paper Essay

Organizational Responsibility and Ethics Paper - Essay Example This could happen due to many reasons like, lack of vision, lack of cooperation among the different agencies involved in health care, or due to the lack of sincerity and honesty within such agencies. The health care system in the United States is no different in the sense that it is one with many paradoxes. The country is a leader in the development of medical research and has a national health care policy on which government spending is the highest in the world. But the health care system is considered to be quite inefficient because of fragmentation, lack of uniformity, and the existence of a large number of people who are not covered by health insurance. The system is also overburdened due to an ageing population and lack of qualified personnel. Any organization, whether it is formed for the purpose of social care or for profit has a responsibility towards the society and individuals in which it operates. This is true for a health care system also. This paper is an attempt to stud y the concept of organizational responsibility issues that exists within the health care system in the United States. In the process, it will look into issues like the ageing population of the country, the unhealthy habits of its citizens, absence of health insurance, increasing number of illegal immigrants and the ethical dilemmas that may exist in the overstretched health system. As mentioned earlier, the health care system in the country is full of paradoxes and contradictions. â€Å"At one extreme are those who argue that Americans have the â€Å"best health care system in the world†, pointing to the freely available medical technology and state-of-the-art facilities that have become so highly symbolic of the system.† (Chua, 2006, p.1). At the other extreme, the system is accused of massive lack of health insurance, fragmentation, difference in health policies of individual states, waste of resources,

Advancement Of Women Essay -- essays research papers

Throughout the international community, women have been a primary focus of the United Nations due to their importance to the economic and social balance in a country. The advancement of women is a vital issue concerning the world as the new millenium begins. Although the international community views women with high regard and of the utmost respect, ancient traditions, one sided beliefs, and false stereotypical propaganda, which demean and belittle women are existent in the world today. Historically, women have been victims of inequality and abusive practices, and due to this, many women never reach their full potential in the economic world. First, the primary root that hinders the progress of women is the inferiority complex at an early age. In document UN/ CRC/ 531, analyzed through UNICEF, an estimated 25% of the world’s children (developing world) are in the web of child labor. To add to this, nearly 70% of all girl/female laborers go unregistered, often performing acts of prostitution and strenuous domestic housework. This form of unregistered work is dangerous to young girls because the employers often abuse their employees sexually and physically, as well as psychologically scarring them for years. This alarming fact can be attributed to the inequality of education given to young girls. At an early age, many girls are taught to be inferior to their male counterparts, both mentally and physically. Currently, 75% of all the world’s illiterates are wom... Advancement Of Women Essay -- essays research papers Throughout the international community, women have been a primary focus of the United Nations due to their importance to the economic and social balance in a country. The advancement of women is a vital issue concerning the world as the new millenium begins. Although the international community views women with high regard and of the utmost respect, ancient traditions, one sided beliefs, and false stereotypical propaganda, which demean and belittle women are existent in the world today. Historically, women have been victims of inequality and abusive practices, and due to this, many women never reach their full potential in the economic world. First, the primary root that hinders the progress of women is the inferiority complex at an early age. In document UN/ CRC/ 531, analyzed through UNICEF, an estimated 25% of the world’s children (developing world) are in the web of child labor. To add to this, nearly 70% of all girl/female laborers go unregistered, often performing acts of prostitution and strenuous domestic housework. This form of unregistered work is dangerous to young girls because the employers often abuse their employees sexually and physically, as well as psychologically scarring them for years. This alarming fact can be attributed to the inequality of education given to young girls. At an early age, many girls are taught to be inferior to their male counterparts, both mentally and physically. Currently, 75% of all the world’s illiterates are wom...

Panasonic and Japan’s Changing Culture

Case #2; Panasonic and Japan’s Changing Culture 1. Some of the drivers of the cultural changes in the 1990’s with Panasonic were that Japan’s generation of workers, starting with the generation born in the 1960’s, did not wholly believe in being a â€Å"salaryman† and working for a company from when they start until when they retire. After many years, in the 1990’s Japan entered an economic slump that lasted the majority of the 1990’s.Only a few companies at first started to lay off employees and go back on their promises of employment until retirement because the older their workers, although they worked hard, also were less efficient than younger workers were. As the younger generations saw this happening they concluded that loyalty to both the company and workers would not be reciprocated anymore and became less harder working than previous. This undermined the traditional culture in Japan of the central bargains of housing and reti rement packages for an employees hard work and loyalty. 2.Japan’s businesses in the future have to operate with more than one plan when they hire workers to effectively. In 1999 Panasonic gave recruits three different choices when they were signed on in employment. They could continue with being given housing, go free to company social events, and buy cheaper services from banks, while also receiving a two year salary bonus when they retired. They could choose to forgo the retirement bonus, while keeping the company housing and be given a higher salary, or they could forgo the retirement bonus and any subsidized services but would be given an even higher salary.In addition to the changes in hiring, companies needed employees to be more risk taking and needed to encourage individuality which is something that was not very prevalent in Japan. Without employees taking risks, companies would suffer and that is what happened to Panasonic as they were forced to close thirty factori es, and cut 13,000 jobs while selling â€Å"huge amounts of assets†. 3. Japanese culture in the 1950’s-1980’s benefited Panasonic greatly because of how after the World War II defeat, Japan was humiliated and it seemed fair that they would be taken care of if they worked hard for their company.For Panasonic this was a great thing because employees worked extremely hard for the greater good of Panasonic and Panasonic responded by giving the employees â€Å"blessings† of company housing, and free social events. 4. With Panasonic cutting 15,000 employees and closing another additional 27 plants, Panasonic is trying to achieve a lower overhead cost in operation and also is trying to find out who their best workers are so that they are not kept down when they should be promoted.By quickly responding to the recession, it showed a change in Panasonic’s company policies and shows that they might be moving even further away from company subsidized housing a nd to make employees become harder workers not because they know that they cannot be fired, but that they can be fired, at any time. If Panasonic implements these changes quickly, they will receive a lot of backlash from all those displaced employees and if they did it like this it would truly symbolize how Panasonic has changed into a company that is becoming westernized and is only concerned with how the company does and not their employees.If the changes take years to implement, although it would greatly affect the profitability of the company, it would give employees chances to adapt to changes of no longer being employed and give them chances to be hired in another company. By making changes slowly, Panasonic would be able to claim that it still wished to use the old way of never cutting jobs but it could not do it in this economy and had to do so to survive. 5.The Panasonic case teaches me that there is a fine line between societal culture and business success and sometimes yo u have to be able to choose between the two to realize which is more important to you. To some companies, such as Panasonic, trying hard to keep with the societal culture becomes too much of a strain for a company to bear so they are forced to adapt and realize that business success is more important that having all your workers love you. It may not be the type of business practice that gives you the best reputation but it will give you the greatest profit margins.

Did Rapid Expansion Cause Icelandic Banks To Fail - Free Essay Example

Sample details Pages: 15 Words: 4397 Downloads: 6 Date added: 2017/06/26 Category Statistics Essay Did you like this example? Are banks just too big to fail? In October 2008, as the impact of the global financial crisis, three largest commercial banks in Iceland, namely Glitnir, Landsbanki and Kaupthing successively placed into receivership by the government (Lyall, 2008), and forced to seek the International Monetary Fund bailout. However, the three banks represented 85% of total assets in the countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s banking system, along with the overseas assets, that was too big to rescue. As the consequences, the whole nation economic were sucked with banks into the whirlpool and the government has declared national bankruptcy later on. Don’t waste time! Our writers will create an original "Did Rapid Expansion Cause Icelandic Banks To Fail" essay for you Create order However, it does not end; the citizens blamed government in the way of handling the crisis, followed by unprecedented wave of public protest. As the result, in January 2009 the government was forced to resign (Stringer, 2009). Up until the banking crisis, the three banks combined debt is six times the nationà ¢Ã¢â€š ¬Ã¢â€ž ¢s GDP of  £35billion which the amount is equal to  £116,000 owed to every single citizen in Iceland (Dailymail, 2008). It would be the one of the worse collapse in financial history. With the population of 300,000, the banks deeply involved in global financial activities before downturn, it brings the nation into bankruptcy. After the bankruptcy was announced, it has affected 420,000 British and Dutch customers, and bank assets which are frozen held by hospitals, police station, council and universities (Brogger, 2008). The bank collapse seems unreal. Everybody panicked when the Kroner dropped 58% by the end of November 2008 and inflation hit 19% by January 2009 (Onaran, 2011). The failure has bought down the government and ruined the jobs opportunity. 1.1.1 OVERVIEW OF ICELANDIC BANKING SECTOR Iceland is said to be the smallest economy in the world that have its own currency and an adjustable exchange rate (Articlesbase, 2007). Icelanders were one of the citizens that enjoy a very high standard of living in the world. Its capita income, education, health care and life expectancy was rated as third highest in the world. (Lesova, Telegraph, 2008). GDP per capita was ranked 5th in the world in 2006 (go-to-iceland.com, 2006). The nation main activities are fishery and metals exports besides banking sector. In 1990à ¢Ã¢â€š ¬Ã¢â€ž ¢s, Iceland decided to follow other small countries such as Switzerland and Luxembourg to develop their economic future in banking sector. Due to the government policies and deregulation in banking sector, in 2001, the banking mushroomed as a result of low interest rates and cheap money pumped by US Federal Reserve. Iceland expands their banks financial position almost eleven times their GDP amounted to $209billion (Onaran, 2011). Oddsson (cited in Onaran, 2011) noted the countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s top three largest banks had created thousands of well-paid workers and handling most of the highest trade individuals and companies. 1.2 RESEARCH OBJECTIVES The fall of Icelandic three major banks in October 2008 was very rare, first time indeed, in financial history. Jensen (cited in Mail Online, 2008) pointed the effect of banking collapsed in Iceland has been way different than other country where it further cause the whole nation suffered in the crisis. This study investigated the perceived causes that led to the bankruptcy of Icelandic banks by setting the objectives as follow. To investigate whether the failure of Icelandic banks due to rapid expansion. To investigate whether the failure of Icelandic banks due to highly leveraged. To investigate whether the failure of Icelandic banks due to fraud. 1.3 RESEARCH QUESTIONS 1. Did rapid expansion cause Icelandic banks to fail? 2. Did leverage cause Icelandic banks to fail? 3. Did fraud cause Icelandic banks to fail? 1.4 SCOPE OF STUDY The study target on the three largest banks in Iceland, Kaupthing, Landsbanki, and Glitnir, which represent 85% of total assets in the countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s banking sector. Also focus on the factors that cause them failed. They are rapid expansion, leverage, and fraud. Besides, the recent global financial crisis was part of the study as well, which believed has bring significant impact on Iceland banking system. 1.5 SIGNIFICANCE OF STUDY Bank failure has a huge adverse effect on the economy and so the stability of banks is very significant. The collapse of the Icelandic banking system is the single biggest mistakes suffered by any country and the most comprehensive in the banking crisis history apart from the Lehman Brothers, in the recent financial crisis (Waibel, 2010). The total debts of the Icelandic banks are way too huge for the government to repay. The collapse of the three major banks in Iceland is the main driver which led to the nation bankrupts. This study is beneficial to identify the factors that can be avoided in assisting financial sector, academic sector and public for a better economy. Learning what went wrong is vital to strengthen the stability of economy. It can be realized that, Iceland case has greatly reported by newspapers and articles all around the world. Hence made many countries concern the possibility of their nation going bankrupt, they started to put more afford into banking sector in o rder to avoid such incident replay in their country. 1.6 THE ORGANISATION OF RESEARCH Chapter 1 is the introductory chapter where the objectives and importance of this study were raised to form a rationale behind the study. This chapter includes the background of three Icelandic banks, research questions, scope and significance of study. Chapter 2 analyzes on factors and analyzes on various theories on some of the factors that caused banks collapse. Factors will consist of rapid expansion, leverage and fraud. Chapter 3 is the research methodology which stated the methods that were used to carry out this study. This chapter included data collection, research design and theoretical framework. Chapter 4 is where empirical findings and case studies were gathered. Chapter 5 is where conclusions of this study were made. Besides, limitations of study and recommendations were also included in this chapter. CHAPTER 2 LITERATURE REVIEW 2.1 RAPID EXPANSION CAUSES BANK FAILURE Rapid expansion interprets as unusual growing rate, usually found in frequent transaction and excessive trading volumes in short period. In reality, business expansion is seen favourable in layman, as it likely to bring more profits into the business. However, looking back to history, it has shown that many companies filed bankruptcy as a result of uncontrolled growing rate. Financial journalists advice donà ¢Ã¢â€š ¬Ã¢â€ž ¢t go aggressive, otherwise the business would expose to liquidity risk which leads to insolvency. In fact, donà ¢Ã¢â€š ¬Ã¢â€ž ¢t we know the principle of too much water drowned the miller? The answer probably will be yes, we do know it well, most of the people are aware of the latency risk, but the reality is people always gone mad with the attractive outcome. Adams (2001) stressed ità ¢Ã¢â€š ¬Ã¢â€ž ¢s good to grow the business, but never ever set growth as the main objective of the business, as it can lead to failure. Generally, business expansion can be classified into two fields, namely internal growing and external growing. It is important to distinguish them especially in banking system. The internal growth of banks mainly refer to the organic growth itself, also the bank intention to issues more loans and thereby increases its loan portfolio. On the other hand, external growth comes from the form of buying assets, or acquisitions, joint venture, often within the same industry which has similar characteristic. Bank is passionate in increasing its lending portfolio. Lending is said to be the effective way for bank to expand its business. By lending out money, bank can earn higher interests through loan issued, thereby generate more income. Agricultural Bank of China (ABC) has reported high profit growth, backed by rapid lending expansion that has driven them into stock market listing. Its net profit has boom 13% to $49.7billion in 2009. Besides, its total assets amounted to 8.6trillion Yuan, evolved into the nation top bank. (cited in Wang, 2009). In addition, a research did in Lebanese banking sector shows its lending activity posting 23.1% growth to $34.9billion in 2010. It was said that the nationà ¢Ã¢â€š ¬Ã¢â€ž ¢s banking sector displayed a favourable performance with strong bank lending that can boost the declining inflows. (The Daily Star, 2011). A research conducted by Jayaratne and Strahan (1996) has proved that the bank lending in the United States contributes to the economic growth. Nevertheless, they pointed out that banks must be responsible to the loans issued. Blindly increased the volume of bank lending will bring negative impacts such as bankruptcy and should be discouraged. Regarding to this, some researchers has pointed out the fuse of recent recession was linked back to the banking deregulation since 1980à ¢Ã¢â€š ¬Ã¢â€ž ¢s. The banking sector in the United States has gone through substantial deregulation. Most of the restrictions have been loosen, such as qualification for getting bank loans, limits of the bank transaction have been almost ignored and etc (Strahan, 2003). In fact, there are many researches has been carried out as regard to the banking sector deregulation issue. The researchers often argue whether deregulation in the banking sector, especially those fast growing bank has affected the quality of the lending. As a result for banking deregulation, it created more competition in the sector. Keeley (cited in Carletti, 2005) found out the low margins of banks is the reason that encourage them to put themselves into higher risk in order to improve the profitability. However, higher risk will exposed them to higher chance of failure. Excessiv e internal growth will lead to lack of management and supervision; hence deteriorate the quality of the loans. A bad loan will make default to be easier (Report of the Special Investigation Commission, 2010). Generally, a loan that is not making income anymore to the lender is classified as non-performing loan in banking term. It is a default loan and can be defined as bad debts in the business (Charles, 2010). Non-performing loan is recorded as a loss in bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s income statement, and normally will cause the bank to distress when there is a large amount incurred, especially encounter crisis. For instance, before the US housing bubble burst in 2006, prices went up drastically which prompted a lot people, especially household and growing firms to borrow money from bank into real estate investment purpose. Due to the high demand, bank see it as an opportunity of earning more profits, it induced them to borrowed more money from outsiders and depositors, in turn issue loans to the people. Bank earns higher interest in this process. In practice, depositors are the bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s creditors (Daily Champion, 2001). However, the large amounts of lending is likely to cause non-performing loan outburst during crisis, which cause the bank unable to collect back its debt and refinance to its creditor. The situation gets worse when the banks suffer bank run (sudden withdrawal by depositors). In this case, the banks have to declared insolvency. An empirical study by Hou (n.d) has showed high level of non-performing loan that caused by over lending is the root that cause of bank collapse. He added non-performing loans caused by over lending can cause the economic bogged down. Furthermore, an investigation on loan growth and the riskiness conducted by Norden and Weber (2010) on 16,000 banks over 16 countries in year 1997 to 2007 has shown loan growth is an important factor of the banks risks. In China, the government punished some banks for their over lending transactions (Dealbook, 2010). On the other hand, the contributions of external growth shall be highlighted. In fact, the structure of external growth is much obvious and simple than internal growth, which is in the form of merger and acquisition. Yet, it is widely adopted and deemed as more efficient in achieving the business objectives than the former (Highbeam, 1997). One of the advantages is that it can help the business to realize maximum growth potential at the right pace, given that the internal growth pattern is limited or meet other constraints. However, it was said that the external growth has to be monitor closely to ensure the objectives of the banks is followed (Maughan, 2011). Hunger and Wheelen (cited in Grashaw, 2010) noted that most of the research concluded that the company growing through external growth does not perform financially well. Instead, company which depend on internal growth tend to present better financial position. This is due to mistimed or misjudged created during the takeover process. Generally, the risk associated with acquisitions is that too high a price is paid for the acquired asset. The situation gets worse when the crisis hits. For instance, the bank is paying big amount to acquire others assets during housing bubble period, this eventually cause them suffer a big losses when the price level has drops. This can be explained in the way that the income generated from its new assets is not equivalent to what had paid. In other word too high the price paid (Ngfl, 2007). In addition, the business has to find more sources to finance its new assets operations during this critical moment, which is seen as the main driver of running off the working capital. This is significant especially in the banking sector as it can cause chain effect which will eventually lead to liquidity distress. Recent studies have established that if merger and acquisitions in banks if allowed in a controlled manner would significantly reduce the bankruptcy risk of the merged entity (Scribd, n.d.). 2.2 LEVERAGE CAUSES BANK FAILURE Leverageà ¢Ã¢â€š ¬Ã¢â€ž ¢s root word à ¢Ã¢â€š ¬Ã…“leverà ¢Ã¢â€š ¬? is the French word which means to raise or to enhance. In finance term, it is an action or technique of raising capital to the existing business by borrowing. An entity that is engaged in borrowing money to finance the business is said to be leveraged. Typically, there are two ways of financing sources for a business to form its capital structure, through debt financing or equity financing. Most often, leveraging involves the issuances of financial instruments such as bonds, notes, debentures and preference shares. In exchange for lending money, the buyer (bonds holder) becomes the creditors to that particular entity (Raymond, 2011). They are entitled to receive interest until their loan redeemed. According to McLaney (2006), short term debt financing usually used to meet operating or regulatory requirements, the repayment due within five years time. While long term debt usually used by company to finance its long term project, due after five years. On the other hand, equity financing refer to the exchange of money to the business ownership particular in ordinary shares. This type of financing does not involve debt, the buyer (shareholders) will received dividend as the return when the business is making profits. However, this financing method is not likely to be used by most of the business entity, consider the issuance of new shares to new investors may dilute the ownership interest and reduction of controlling on the business ownership (Toolkit, 2011; Finance Website, 2009). Whatà ¢Ã¢â€š ¬Ã¢â€ž ¢s more, it is a demanding procedure for an entity to issue shares, time and the expenses incurred are relatively high. Therefore most of the companies nowadays prefer debt financing source rather than equity financing. Baker and Powell (2005) said managers prefer issuing debt securities rather than new shares when seeking for external financing sources. This is because debt financing leads to the increase of company value, while equi ty financing on the contrary, will cause the company value drops. Traditionally, debt is a liability and deemed as something that is unfavourable to an entity which should be avoided. However, debt is seen favourable when being used properly. This was supported by CPA Thomas Emmerling, he said debt is always better than any other form of financing when comes to the cost of capital (cited in Franczyk, 2005). Rao (1989) in his book pointed out various advantages of debt financing to the business particular in: Interest payment on borrowing is regards as tax deductible Undilution of shareholding control Relatively low cost to issue debt than equity Function as business catalyst, boost business income Besides that, it benefits the entity by leverage little amount of debt which could eventually bring them more income (Rich Credit Debt Loan, 2011). Hence, the objective of the leverage is met, and that we call it positive leverage. Waggoner (2008) argues that the impact of leverage has to be understood. Leverage can provide an incentive to generate income. Therefore leverage, more specifically debts that applied is not necessarily bringing harm to the business. Besides of generating more income, debt leverage can also used to increase the entity net worth or cash flow. John Waskin, CEO of American Credit Counsellors said Good debt produces cash flow, and bad debt doesnt. He stressed on the using of debt leverage facility could create a lot of benefits to the business (Billion Dollar Income, 2010; Getlen, 2008). Hutchinson (2008) said leverage financing method become widespread in the banking sector. He explains the more assets they control, the more return they can earn. In banking sector, debt leverage is a common technique when they engage in daily activities. For example, In order to multiply the income and capacity of lending, they will issue bonds to raise its capital by borrow more money from other financial institutions and lend it to other parties by charging at higher interest rate (EMAC Committee Members, 2010). Debt leverage is a favourable tool presuming there is no default exists in the whole process, and bank has collected back all loan issued, along with the interest imposed. Leverage contains high risk when the obligation is default. When bank is unable to collect back the money and they have to suffer the loss thereby no payment will be made to its creditors, especially when the bonds are due. For instance, this situation has reflected in recent housing bubble in US where the bank used depositors fund to lend it out to parties in real estate investment. When the housing price drops (biggest drop was 32.7% in year 2008) (Mantell, 2008) and the debtor does not payback the debt, the bank will lost all of its deposits and declare insolvency (Kalid, 2008). Apart from that, Murray (2011), argue that appropriate volume of leverage is allowable and can be use to increase the rate of return. However, if the business has excessive amount of borrowing (overleveraged), it may has difficulties to finance the debts when it is due. A bank will be vulnerable when the level of borrowing hits certain level. Besides that, Peavler (2011) emphasized that the firm is running the risk of filling into bankruptcy each time they use debt financing. The higher level of debt financing, the higher chance the firm will bankrupt. Glantz (2003) proposed the use of debt to equity ratio (leverage ratio) to identify the risk of a company. The formula is given as follow. Leverage ratio = Debts Equity The definition of leverage ratio is that, the higher the leverage ratio means the company is using more debt financing source, vice versa. For example, if an institution has $10million in debt and $2million in equity, it is said to have a leverage ratio of 5.0. Thus, leverage ratio tends to indicate the level of the debt financing in a company. Fisher suggests the 2-to-1 of assets to liabilities ratio rule should be imposed by company when come to financing decision, more than that could bring the company to fail (cited in Franczyk, 2005). However, this was objected by Franczyk, claiming that there is no fixed rule on the leverage amount; it has to depend on the nature of the company (Franczyk, 2005; Yahoo Finance, 2011). His statement was supported by other researcher, complex entity such as financial institutions and bank doesnà ¢Ã¢â€š ¬Ã¢â€ž ¢t have standard ratio in leverage. Maudlin (2009) illustrated with some of the Europe banks especially in Greece, Italy, Spain, Portugal, Ireland and Britain were reportedly hit leverage ratio at 50:1 and yet they still surviving. He further pointed out these banks were heavily involved into Eastern European projects which currently faced financial difficulties and plummeted local currencies. EU Commission has growing concern on the ability of these banks to payback the debt. Generally speaking, debt leverage is favourable to business, but it is advised do not overleveraged. It is essential for business to use a balance between the combination of debt and equity financing (Biztrademarket, 2009). Regarding to this, McLaney (2006), proposed the traditional view of capital structure, where it indicates the effect of borrowing on Weighted Average Cost of Capital (WACC). WACC is an expression of a cost which is used to see whether the intended investment is worthwhile to undertake or not. The lower the WACC, the lesser risk the company bear (Chryanthou, 2008). Figure A: Traditional view of the effect of borrowing on WACC The traditional view of capital structure states that at the initial stage of company borrowing (gearing (UK) or leverage (US)), the advantages of cheap cost of debt and tax advantage will cause WACC to fall (Favourable). However, as the gearing increases, shareholder will demand for higher return for higher risk they bear (i.e., cost of equity rises). At the same time cost of debt also rises because the chances of company defaulting on debt are higher. Therefore, WACC will increase (Unfavourable) and a U curve is created. Based on Figure A, the result is that, a minimum WACC is identified and that is the point of optimal gearing/leveraging level. The design of this structure tends to give the indication on how much leveraging level should be taken, also, in the attempt to reduce the business risk to the lowest possible point. 2.3 FRAUD CAUSES BANK FAILURE A series of financial fraud in the past has shaken the confidence in financial market. Fraud had been remains high and is one the leading cause of bank failures. How could fraud unnoticed at the first place? Appearances can be deceiving until ità ¢Ã¢â€š ¬Ã¢â€ž ¢s too late to reverse the situation. Some financial fraud contains signs yet investors and shareholders fail to observe the warning shown. Good judgement derive from experience, experience derive from poor judgement. An understanding on financial fraud is to look back at the history of fraud incident and successfully overcome the mistakes done. Financial fraud is a crime. The National Criminal Intelligence Service (NCIS) says more than 70 percent of doubtful transactions reported are contributed by banks (Murray-West, 2004). Those convicted with fraud will always walk away richer even though fraud has failed in the bank. Wilson (1999) noted financial scandal could happen again due to its temptation of attractive rewards to pe ople. There is an increase of financial fraud in US, UK and Asia. If fraud comes to rule the system, it will ruin the business. Ade and Wole (cited in Socyberty, 2008) stated that fraud is a virus spread from banking that might harm other sector. However, it received little attention they said. Investigation on fraud activities is important as the lesson of the consequences from dishonest actions can make aware to businessman, politician and regulators. Recognizing on types of fraud in the bank is important to sustain them in the long run. The few common type of fraud is insider lending, asset misappropriation, false accounting, bribery and corruption. Growing complexity of the bank has made way for fraud to be committed by any groups in the bank. For example, companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s management, companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s employees, third parties and customers may have involved on it. Insider fraudster is a serious threat to the bank in the words of a representative from Serious Fraud Office (Murray-West, 2004). Furthermore, Cull (2011) argues that lending to bank insiders is the main cause that leads to non-performing loan occurred. She pointed out bank prefer to make loans to their close associated or own shareholder which easier for them to monitor. But on the other hand, this allow insider borrower to transfer out money illegally when the credit crisis take place. At this point, the insiders have taken the opportunity to made loans and default it later on in order to sustain their own business organization. Many cases of financial fraud have involved individuals that outstanding perform in job. They are capable to transfer out large sums of amount from the bank. Ironically, the outstanding performing staffs that bring the most profit to the bank required the most observation. Palmer (cited in Murray-West, 2004) stated individual that has engaged in fraudulent transaction are those who greatly preferred due to higher ability to earn money for bank. Black (cited in Galbrait, 2010) stated financial fraud is likely to happen when you can be in charge of the bank. Given the authority to manage the bank, it is always easy to involve their self in fraud. Heineman (cited in Brigham and Linssen, 2008) stated CEOs are the individual that are responsible that contributed the fraud in Enron and WorldCom. Someone that is performing great will less likely to be question by public, other executives in the bank or shareholders. The management is clueless on how are those CEOs control the entity. They f ailed on handling accounting, finance, risk, legal, human resources, operational and boards. Other than CEO, individual such as Nick Leeson has brought down Barings Bank with fraudulent activities when top management did not question his activities in the bank (Pressman, 1988). Nick Leeson hides errors and losses in the hopes that luck may reverse while speculate the fake account to earn money with foreign currency. Asset misappropriation is the common and easiest to occur. An asset misappropriation includes payroll fraud, check forgery, theft of money and services. Statistics show that asset misappropriation made up to 91% but the least expensive fraud (Coenen, 2008). The founder of Independent Insurance and two of its executives has bought down Britainà ¢Ã¢â€š ¬Ã¢â€ž ¢s largest insurance companies. They were involved in off-balance sheet accounting which is keeping information on contracts away from the main system. False accounting has been very common that cause institution failures over the years. False accounting is often done by overstating or understating profit or liabilities to show a stable balance sheet. This is done to attract customers and investors. Palmer (2004) noted banks uncover questionable transactions in order to maintain their reputation on outsiders view. There is no incentive for bank to reveal the real information to customers and investors. The manipulation of financial statement can enhance the bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s earning by making it more appealing and create more financial opportunities. Sarbanes (cited in Brigham Linssen, 2008) said public companies with good reputation are convicted into fraudulent practice to exaggerate profit and rise up stock prices with their auditors. However, the cost of false accounting is large and widespread. Matthew Piper lost  £60million in Morgan Stanley, one the largest investment bank when he overstated the profit. (Power, Edwards and Bloxham, 2008). Bribery and corruption include investment scheme fraud, bribes to influence decision-making, and manipulation of contracts. It is reported that bribery and corruption is cost more than asset manipulation. Two SFO were bribed  £800,000 to ensure loans of  £13m are successfully deal the owner of Facia (Murray-West, 2004).