Would the World be a Better Place if Large-Scale Emigration to Other Planets were to be Possible?

Our world is in a predicament. The delicate balance that supports life that evolution (or God) has created is being tilted by deforestation, overfishing, increasing population, global warming and such, threatening the fundamentals for life. Planet Earth appears to be spiraling downwards towards an inescapable end. About half of the mature tropical forests, between 750 to 800 million hectares of the original 1. 5 to 1. 6 billion hectares that once covered the planet have been felled, and animals are becoming extinct more quickly than ever (experts have estimated that up to half of presently existing species may become extinct by 2100). Our main energy sources, oil and natural gas supplies, are rapidly running dry. The future of the earth, hilas, looks dark. Taking all of this into consideration, it appears that mass emigration to another planet might be the only solution. However, is it really too late to turn the clock? Or maybe more importantly, is it morally right to abandon ship when the storm is gathering? The damage we have caused to our world is both unbelievable and undeniable. Only 17% of planet Earth's landmass is still untouched by mankind (excluding Antarctica). Our world's natural oil and gas resources are soon fully consumed; renewable sources only stand for about 13% of the energy created. All the emissions from burning fossil fuels are carelessly released into the atmosphere, and as a result, the ozone layer is in an incredibly tattered shape. However, if we could move to another planet, thus leaving this one, the Earth would recuperate. The largest hole in the ozone, the one above the Antarctic, would, according to NASA scientists, recover by 2068. Similarly, if there were no humans to fish the oceans dry, and no humans to chop the forests down, slowly but steadily, the world's ecosystems would recover and the biodiversity would regain lost grounds. The human race has created this situation, and we owe it to the Earth and the other species that we reverse it. There are a number of valid arguments for saving our world by emigrating to another, and although leaving for another planet may save this one, abandoning Earth may not yet be necessary. All hope is not lost – it is still within our power to undo the damages ourselves. It will be a task of great difficulty, but one that we can pull off. Since when were problems solved by burying one's head in the sand? Besides, if you do bury your head in the sand, chances are, you won't like what you see when you stick it back up. Taking the emergency exit whenever there are bumps on the road will create a â€Å"laissez faire† mentality, which never has solved anything. If awareness of this crisis can be raised all around the world, and if people realize just how important the matter we are dealing with is, there is a significant chance that we can start acting in a sufficiently environmentally friendly manner for the previous natural balance to be restored, without us leaving Earth for a far-off planet. By abandoning the planet we do not solve the true problem, we simply run away from it. If we were all deported to another planet, but didn't change our behavior, all we would do is repeat the same mistakes we made on Earth. What does shifting planets mean if we still don't own up and take action to reverse the situation we have thrust ourselves into? If we recognize now that problems such as global warming, overfishing and deforestation are not resolved by turning our backs to them, it will also be understood that these will not vanish because we choose to flee from them. We must do something about the tribulations we have now, only then we can move on. Exporting our problems to another planet is not solving them. Furthermore, there is also is a moral aspect to this issue. It would be indecent and ethically incorrect to simply change planets and abandon earth when we are encountering real and serious problems which in addition are caused by ourselves This world is optimal for our form of life. If just the weight of the proton in the air molecule was the slightest bit different all life on earth would be impossible. Similarly, if aliens would visit Earth, they would die of inhaling oxygen. It is an incredible chain of circumstances that allow us to live by breathing oxygen. The human race has become adapted to live on planet Earth over millions and millions of years of evolution. Just like a hole is perfect for the water puddle it contains, Earth is perfect for man. This taken into consideration, we can't just destroy this Earth, and then leave it without the slightest effort to do something about it. We were made for this planet, and now that it is being destroyed, the very least we can do is to try to reverse what we've done. In any case, fleeing should be the very last option. All of us who inhabit Earth have inherited it from earlier generations. We are merely the present caretakers of this Earth, just like thousands of generations before us have been. Therefore, we have a moral responsibility, both towards our children as well as to our ancestors, to protect and preserve something extraordinary that no one ever can own, only borrow. On the one hand, it is a fact that we are well on the way of destroying Earth, and if all human beings were to leave the Earth, there is a chance that the Earth might recover. However, this is only true if all humans are transported to another planet. The question was â€Å"would the world be a better place if large-scale emigration to other planets were to be possible? † Upon a closer look, mass emigration does not necessarily mean that all humans are transported, rather just some. This is certainly of importance, as it is not necessarily the number of people on Earth that decides if the world is going to recuperate or not. What is more important is how the people who actually do live here treat the environment, i e how much carbon emissions are released into the atmosphere, how much fish we fish from our seas and how many trees we cut from our forests. If 50% of the world's population was evacuated to another planet, but the remaining 50% treated the environment worse than before, the problems would not be solved. Rather than focusing on efficient ways to deport masses of people to other planets, we should focus on efficient ways to save this planet, with us on it. On the other hand, it is probably true that the abandoning of the planet will have to occur sooner or later. 99. 9% of all species ever to reside on planet Earth are now extinct. Mankind will certainly not be an exception. Even if we don't drive ourselves into extinction, or a comet crashing into Earth doesn't do it for us, in about one billion years the sun will start dying. It will slowly begin to swell up, and produce more heat, making life on this entire solar system impossible. If the ultimate aim of mankind is survival, emigration to another planet might then be the only option. However, this is not the case today. We still have an option; so let us take advantage of it.

Data Summary and Discussion

The data presented shows the amount charged on credit cards by households of a given size and income. This data shows that while the amount spent by households varies depending on the size and income, the combination of both might also have an important bearing on the amount of that household’s debt. The debt range for the entire data set of 50 households is $1,864 to $5,678 per year, while the incomes in the set range from $21,000 to $67,000 per year. The households’ sizes in this data set range from one (1) to seven (7). When each variable is taken singly, one finds that each does to a significant extend predict the amount of debt that the household carries. What is specifically shown in this data is that households tend to have a higher amount of debt depending on the number of persons who live in the house, as it largest households generally carry a debt amount that lies on the higher end of the spectrum. For example, the average debt for the three seven-person households lies at $4,911, which is only about seven hundred dollars below the highest debt amount of $5,678. The data also shows that the average debt for the five one-person households is approximately $2,781. However, what the data also shows is that even though debt rises as the household size rises, it does so at a decreasing rate. The fact that the average debt for one-person households is significantly higher than the lower end of the range demonstrates that the low end might represent an extraneous amount, and indeed it does. This is the debt carried by a two-person household. A better comparison of the one-person household average debt could be made with the calculated debt per head for the entire data set. The total number of persons in all households is 171, and the total debt for all households is $198,203. The average debt per capita for this group of persons is about $1,159. This, compared with the average debt for the one-person households, shows that the debt for the one-person households does represent a disproportionately high size of twice as much as the overall per capita debt. This might be explained by the fact that the fixed costs for households generally remain relatively the same regardless of how many persons may live in the house. Other factors that bear on this are extraneous, such as the spending patterns and financial awareness of the persons in each household. However, another major factor to consider in predicting household debt is the annual income of the persons within each house. Which is a Better Predictor: household size or income? However, further analysis shows that even household, by itself, does not predict the amount of debt very well. In fact, the data points toward the fact that household size predicts the annual credit card charges better than household income. Looking back at the previous example, one sees a household that earns $26,000 producing debt comparable to most of the higher-end earners. Part of this debt size has to be attributed to the fact that the household earning such a small income in comparison to other household is faced with the challenge of supporting seven persons. Another household earning $23,000 supports six persons and shows credit card charges of $4,127 per year. Other households of comparable earnings ($21,000 and $27,000) show smaller credit card charges of $2,448 and $2,477 respectively, and this can be attributed to their smaller household sizes. Combination of Household Size and Earnings The income range for the data set has already been stated as $21,000 to $67,000. The total income for this group is $2,174,000 and the average income is $43,480. The average debt for each household is $3,964 which falls approximately in the middle of the $1,864 to $5,678 range. However, what one notices is that though the average debt for the three 7-person households is shown to be $4,911, the highest debt in that segment goes to the household with the highest income. Therefore, the $5,301 debt goes to the household that earns $55,000 per year, while the lowest debt of $4,603 goes to the household that earns only $26,000 per year. This demonstrates that the combination of household size and household income is an overall better predictor of credit card charges that any of those variables alone. According to this, a household made up of three persons and earning $40,000 should show a credit card charge within the median range of about $3,800 – $4,100. This would be expected to be comparable to any other household of three persons, yet slightly below those households of three that have higher earnings. Other Data Necessary to Make Accurate Predictions Other information concerning these households’ loans, mortgages, and neighbourhood locations would also be requested of the client. According to the discussion above, though, it would appear that despite the fact that household size predicts the annual credit card charges better than household income, other factors also affect the size of credit card debt. What one notes is that most of the low-earning households do still show a disproportionately higher amount of debt than their counterparts of high-earning households with similar household sizes. Households that, for example earn twice as much as another do not generally show twice as much debt in this data set. Neither is this so for households that have twice as many persons. One contributor to this is the existence of fixed costs, as mentioned above. However, this does not account for all the discrepancies. Therefore, other factors that might contribute to credit card charges include the amount of previous debt (such as university tuition loans, mortgages, etc) that each household has incurred. They may also include the household’s attitude toward its finances and toward debt in general. Other factors involve the cost of living within the geographical area of the particular household and the general lifestyle to which the household is accustomed. Work Cited Professor’s Name. â€Å"Data Sheet.† Name of Class. City: University, 2007.

The Iconography of the Buddha Image

For the following report the concept of iconography in regard to the images of Buddha from the South Asia region (1-5 cc. A. D. ) is important. In general, iconography in art stands for studying the imagery or symbolism of the work of art; in regard to the Asian Buddha images, iconographical elements provide the worshipper and observer with multiple signs to differentiate between unique Buddhas and Bodhisattvas. There is a hot discourse in research literature about the nature and developmental stages of Buddhist iconography.Up to the 2-3 c. A. D. , Buddhist art used to be predominantly narrative consisting of jatakas (accounts of the Buddha’s previous incarnations) and nidanakathas (historical events related to the founder of religion, Buddha Shakyamuni or Prince Siddhartha Gautama). Due to the very nature of Buddhism, its iconography has been associated with aniconic symbols for a long time. Once Jain claimed that before its material anthropomorphic transformations the Buddha icon used to be initially of intellectual and imaginative nature.The idea echoes somehow with Diskul and Lyons’s proposition about the iconography in regard to the Buddha image standing for the goals of maintaining traditions and sacrificing exuberant decorative elements for the sake of immortality, sanctity and transitivity of Buddhism. However, the Buddha image is perceived mostly in its anthropomorphic dimension nowadays with a rigid system of metaphors and symbols standing for iconographical elements. All the researchers agree on the fact that the image of Buddha as anthropomorphic icon started being created approximately in the 1st century A.D. The gold and copper coins of Kanishka (Appendix A) contain Buddha images on the reverse sides. It is logical to assume that those images were simple and rather abstract because of the small size of those coins. During the five centuries of modern era, the iconography of the Buddha image has been made rich and complicated. Accordi ng to Diskul and Lyons, there are three key elements in the iconography of the Buddha image: these are anatomy, dress, and posture.Diskul and Lyons mentioned that the anatomy of the Buddha encompassed â€Å"the canons of proportion and the form of the supernatural details†; the dress might look either as the monk's garb (being placed on either both shoulders or the left shoulder only), or a princely garment (though in all the cases the elements of dressing are highly stylized); and, so far as postures are concerned, Buddha was portrayed as either walking, or standing, or sitting, or reclining, not to forget â€Å"less than a dozen usual gestures of the hand†.In Jain’s chronology of the Buddhist iconography, the researcher listed the specific elements of Sarnath Buddha images (3-4 cc. A. D. ) with their graceful and beautifully shaped bodies within eight iconographical types depending on the scheme of the dress (either the covered one with both shoulders being dr aped, or the open one with the right shoulder being bare) and the four gesture patterns.Meanwhile, the Huntington Photographic Archive of Buddhist and Related Art ignored anatomy and dress, concentrating instead on sacred bodily marks (lakshanas) and attributes (objects held by or belonging to the figure) or associated objects as the media through which the icon communicated to the observer. For the posture category, the Huntington Archive proposed the sub-division into postures per se (the one of sitting body is called asana, and the one of standing is sthana) and gestures (position of the hands, mudra, and position of the arms, hasta).The Grove Art Online derived the iconography of the Buddha from the one of pre-Buddhist yakss with 32 major and 64 minor prescribed signs; five gestures (mudras) – fearlessness (abhaya mudra), bestowing boons (varada mudra), meditation (dhyana mudra), touching the earth (bhumisparsa mudra) and turning the Wheel of Law; and three main postures – the one with crossed legs is called adamantine (vajraparyanka), the one where the Buddha is sitting with one leg placed across the other thigh is sattvaparyank asana, and the one with both legs hanging down is referred to as bhadrasana.Whatever the iconographical systematizations are, the image of the Buddha has been developing from abstractly carved prototypes to the detailed icons of magnitude and aesthetic recklessness. Under the Kushan dynasty that ruled from about the first to the seventh centuries A. D. in Afghanistan, north-western India, the Punjab, and in present-day Pakistan, there were two distinctive schools of portraying Buddha: the Gandhara and the Mathura ones.While in the north (Gandhara) the images of Buddha belonged to wandering craftsmen from the Roman East, in the south (Mathura or Muttra) the technique derived itself from native Indian sources. Both schools, though being distinct in iconographical elements and methods, portrayed Buddha both standing, se ated or reclining (in scenes of the Great Demise); either as a single and independent image or the one of the figures on panels. The earliest image of the Gandhara Buddhas Rowland referred to the second and third centuries A.D. judging from inscriptions. In regard to the standing Buddhas, there is one key characteristic of Gandhara images – though on the very first sight they look like reliefs, they can not be observed from the back, their back side is usually flat and unfinished. As for the material used, craftsmen carved the statues from stone and stucco or lime-plaster. The latter was popular in the first century A. D. already, and by the third century A. D. it has replaced stone.Another favourite medium for carving was the blue schist and green phyllite, while metal was less popular. Besides artists used to decorate both stone and stucco images with polychromy and gold leaf. In Mathura the sculptures were also covered in an analogous manner because craftsmen usually carve d the statues of Buddha of red sandstone, which was â€Å"an exceedingly ugly stone, frequently marred by veins of yellow and white, so that streaks and spots of these lighter colours disfigure the surface†.The researcher may compare two schools of portraying Buddha on the basis of the Gandhara Standing Buddha from the Guides' Mess at Hoti-Mardan, near Peshawar, and a life-sized standing Bodhisattva of Sarnath with an inscription about a certain Friar Bala dedicating the sculpture to the deity in around A. D. 131-147 (Appendices B and C). One distinctive point between the two sculptures is anatomical proportion. The Gandhara school adhered to the antique canons when the total height of the body was five times bigger that the head after late Roman and Early-Christian models.The Mathura school adopted special unit of measurement, the thalam, which had nothing in common with human physical anatomy. It is â€Å"the distance between the top of the forehead and the chin, which is divided nine times into the total height of the figure† to convey the heroic and superhuman posture. Subsequently, the bodies of the Gandhara standing Buddhas are more harmonic and natural, possessing â€Å"the Praxitelean dehanchement [†¦] beneath the robe†, which is also typical of Greco-Roman art.Meanwhile, the Mathura Bodhisattva is more massive and erect. Modern iconography owes lakshanas of the Buddha to the Mathura school. Rowland stated that whilst the shaping of the body in the Mathura images is â€Å"greatly simplified and still represented by the archaic technique of incised lines†, the modelling of the drapery reveals both texture and volume; in result, an observer may sense â€Å"the warmth and firmness of flesh and [†¦] a powerful feeling for the presence of the inner breath or prana. †In regard to the style of drapery (Diskul and Lyons), the Gandhara Standing Buddha from the Guides' Mess at Hoti-Mardan reminds of a Roman nobleman o f the Imperial Period. The eye of an observer catches heavy folds of the dress, which is a kind of Roman toga instead of Buddhist mantle. The Mathura images are often nude to the waist. The Bodhisattva of Sarnath rests his feet firmly on the basement, raising the right hand in the gesture of reassurance, and supporting the folds of his native Indian robe or dhoti by the left hand on the hip.So far as the physiognomic characteristics are concerned, the Gandhara Buddhas resemble of the Apollo Belvedere due to â€Å"the head, with its adolescent features and wavy hair†, though some distinctive Buddhist iconographical elements – the magic marks or lakshanas – may be also present. The Mathura's Buddha images, as Jain pointed out, are more round-faced with underlined â€Å"spiritual realization and beatitude. † There are also physiognomic distinctions between the two schools: In Mathura art tradition, Buddha image has longer earlobes, thicker lips, wider eyes a nd prominent noses.In Gandhara images, eyes are longer, chin more angular, earlobes shorter and noses more sharp and better defined. Under the rule of the Gupta dynasty (starting from A. D. 320), the Buddha images became even more anthropomorphic due to Mahayana Buddhism, and, at the same time more sacred due to the sharpening of the Buddha’s superhuman nature and his Oriental origin. In regard to the iconographical systems, the Gupta images are synthetic. For example, the body of Standing Buddha from Mathura (Indian Museum, Calcutta) (Appendix D) is fully covered by the monk’s mantel after the Gandhara models.At the same time, the folds of initial pseudo-togas gave space to stylized series of strings instead of multiple folds. Rowland provided the link to the classic Mathura school in regard to the rhythmical goal of stringed drapery, stating that â€Å"the repetition of the loops [†¦] provides a kind of relief to the static columnar mass of the body. † At the same time, unlike the early Buddhas of originally Indian type, this Shakyamuni, though being rather voluminous and powerful, is not crude or roughly carved.Jain noted that the Gupta Buddha images were remarkable for the facial expressions bearing â€Å"celestial calm, serenity, a gentle smile, divine glow and unique composure. † Rowland sang dithyrambs to Gupta Buddhas from Sarnath because of the exquisite carving of their haloes. After having defined the concept of iconography in relation to the Buddha images in South Asia and having traced the development of iconographical systems from the first up to the fifth centuries A. D. , it is possible to summarize the key trends of the craftsmen having been portraying Buddha in the multitude of forms, styles and types.The first anthropomorphic images of Buddha appeared in the first century A. D. and adopted the iconographical elements of both Greek-Roman Antiquity and native Indian styles. During the Kushan period (25 AD †“ 150 AD), there were the so-called Gandhara and Mathura (the north-west part of modern Pakistan) schools of portraying the Buddha. The Gandhara Buddhas adopted many iconographical features of antique sculptures in regard to the slightly curved posture, anatomic and physiognomic verity and refinement, heavy and voluminous drapery organized in parallel folds and mask-like expressions of the faces with matted hair on the head.The early Kushan Buddhas from Mathura were more massive and heavily built than Gandhara ones and demonstrated stricter adherence to the native Indian canons. There was a greater accent on lakshanas and attributes in the Mathura school. Both standing and seated Buddhas were depicted in one of the assigned postures and their gestures bore sacred meaning for the worshippers. The garment looked more like the typical dress of Indian princes with the folds having given space to the strings standing for native muslin or silk dhotis or monastic robes.The torsos of Math ura Buddhas bore distinctive marks of heroic and sacred life of the Buddha (the marks of wheel, the three white hair between the eyebrows, etc. ). Starting from A. D. 320 within the Gupta period, the iconography of the Buddha images became more synergetic having adopted both Gandhara and Mathura elements. After the Gandhara canon, the proportions were ideal and aimed to produce the effect of magnitude and super-human power. It could happen due to the distinction between the mortal Prince Siddhartha and the â€Å"real Buddha† as deity.The individual parts of the body were depicted in purely Indian manner with the emphasis being made on lakshanas (elongated earlobes, urna, webbed fingers and toes, etc. ) and attributes (lotus, Water bowl, etc. ). The faces of the Gupta Buddhas served the arena for metaphorical transformation: the eyes had the form of the lotus flower, the hair looked like snails or shells, the lips were full and ripe like exotic fruit and there was a mild smile on them, the eyebrows were curved like the Indian bow.Thus, one may say that since the first century A. D. up to the fifth century the iconography of the Buddha image has been remarkable for the shift from Greek-Roman models to the synthetical type with prevalence of Indian iconographical elements and from anthropomorphic and individualistic depiction to the icon of the super-human mighty deity with traditionally assigned symbols. Bibliography Diskul, M. C. Subhadradis, and Elizabeth Lyons. The Arts of Thailand: A Handbook of the Architecture, Sculpture, and Painting of Thailand (Siam).Ed. Theodore Robert Bowie. Bloomington: Indiana University Press, 1960. Huntington, John C. , and/or Susan L. Huntington. The John C. and Susan L. Huntington Archive of Buddhist and Related Art (a photographic research and teaching archive). 15 Oct. 1995/Oct. 2004. College of the Arts, The Ohio State University, Columbus, Ohio, USA. 13 Jan. 2006 . Jain, P. C. â€Å"Evolution of the Buddha Image. â⠂¬  Exotic India Art. May 2004. 13 Jan. 2006 . â€Å"Indian subcontinent,  §II, 2: Buddhist iconography and subject-matter, (i) The Buddha. † Grove Art Online. Oxford University Press, 12 Jan. 2006 . Rowland, Benjamin. The Art and Architecture of India: Buddhist, Hindu, Jain. London: Penguin Books, 1953. Appendices Appendix A Kanishka Coin (100 B. C. ), gold and copper. Benjamin Rowland, The Art and

(1) Is Inequality inevitable (2) From Karl Marx', Max WEBER', Vilfredo Assignment

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Affirmative action of law - Research Paper Example Affirmative action as framed up by the law had lots of confusions. In the American employment law framework affirmative action grew through a series of governmental announcements. Policies taking race into account to break the effects of long term unfairness were not simply endured but often necessitated by courts and civil rights agencies. Affirmative action policies were enforced on by the bodies approving them if they were voluntary, while on the other hand affirmative action policies obliged by the government mandates could be enforced through the legal system (Crosby & Iyer, Clayton, Drowning, 2003, pp. 94-95). The affirmative action of law laid its root during 1960’s. Since then it had been growing with constant development. The affirmative actions by law were multi faced. As the background check we can refer to the following instances. School unification remedies by the late 1960s had explicit racial goals and required punctual reassignment of students and teachers on a racial basis to fabricate truly desegregated schools. In connection to that the Voting Rights Act’s powers were elicited. Statistic showed a history of prohibiting and conditions were to be expected to be responsible for those differences in a state or community. Trial to prove biasness against each and every minority voters in every community had proved out to be inadequate. Affirmation action in college admissions were a part of these problem too. The peak of the movement for diversity on campuses came in the mid 1970s. As a result the Supreme Court gave decision. The decision limited the affirmative action and opened up campuses which suits by the whites. This move was highly criticized by the academic leader. During 1996 Texas decision made some amendments in the law. It stated that no harmony existed on the benefits of diversity. The higher education and the civil rights communities also followed the same pathway in the limelight of affirmative action enforced by law. A s an outcome of these efforts judgments were passed against the negative impact on the diversity was made in the court premises. The issues sharpened by legal consideration personified in the most important judicial proclamations on the major issue of diversity and related civil right issues. This witnessed the first positive move made by the law on affirmative actions. The declaration by the Court made exerted a strong positive impact on diversity issues which was resolved to a great extend. The problems of indifferences in the society were resolved to a great extend. The affirmative action boosted the morals of many living in the society (Orfeild & Kurlaender, 2001, pp. 1-10). Affirmative action was also observed its implication in the field of employment. In this arena, an organization was required to supervise its workforce statistics, keeping vigilance on the underrepresented gender and ethic group. Goals delineated in the action plan of affirmative action did not constitute un fair favored treatment. But in certain issues the affirmative action on employment was hugely criticized. The opponents depicted the policy as a simple matter of preferential treatment (Crosby & Iyer, Clayton, Drowning, 2003, pp. 95). The federal affirmative action policy may be sculpted as a tax on white male employment in contractor firms. As a cascading effect it could be analyzed in the standard two sector models applied to taxation. During the maturation period of affirmative action, enforcement of it did become more antagonistic. The employment data showed that black male and female employment shares amplified momentously faster in the contractor establishment than

The Shallows Agreement and Partial Disagreement with Nicholas Carrs Essay

The Shallows Agreement and Partial Disagreement with Nicholas Carrs Approach to Internet Privacy - Essay Example For purposes of this particular analysis, the author will analyze Nicholas Carr’s â€Å"The Shallows†. Rather than delving into it point by point agreement for rebuttal of Carr’s piece, this author will attempt to integrate the analysis based upon Carr’s of the means by which more and more websites such as Google and Facebook seek to track their online users and glean potentially harmful levels of personal preferences and surfing history. As a means of such an analysis, it is the hope of this author that the reader will be able to integrate with one of the most important issues that exists within the realm of technology during the current era; the right an expectation to privacy. Although it is always been a policy of firms seeking to maximize their profits to endeavor to gain valuable information with regards to their client base, the extent to which websites such as Facebook and Google have gone to extract this information from their users is unprecedented. One of the trade-offs to the readily available information and use of social networking that both of these sites, as well is a host of others, display is the facts that they provide lengthy, nuanced, and ultimately confusing privacy policies that are written in what can only be described as many pages of legalese (O’Brien & Torres 69). Naturally, such privacy policies are intended not towards protecting the privacy of the individual Web server; rather, they are designed to protect against any liabilities that the firm may incur based upon their otherwise unscrupulous gathering of information of their users. It is the belief of this particular researcher that such practices are highly unethical and represent breaches of consumer confidence that in any other industry would be taken as an affront to consumer privacy and respect. Unfortunately, the level to which government is willing to safeguard the users of these monolithic and highly lucrative firms are extraordinarily limited (Carr 105). Although it is beyond the scope of this analysis to offer an in-depth discussion of why this might be, it is the belief of this particular researcher that the line between industry and government is particularly blurred both with respect to Facebook and to Google. This blurring has not helped the consumer/web surfer whatsoever; rather, it has only helped these firms to further market their products and seek to gain valuable information with regards to the habits and preferences of the millions of individuals that use their services on a daily basis. In the past, cooperation between the government and private firms has rarely turned out to the overall benefits of the end consumer. Although s uch a situation is possible, the level and extent to which government is currently reliant and highly cooperative with the likes of Google, Facebook and others does not bode well for the right to privacy from the end user/consumer (Gilbert 8). Naturally, the key concern is not center necessarily upon the fact that Google and others are seeking to track and retain this information; rather, the key issue becomes what did they intend on doing with such information/how will they use it/for how long will they keep it and who ultimately has access to it? Recently, I was so troubled by the level to which so many websites sought to place tracking cookies on the computer that I downloaded an ad on to Mozilla Firefox which is called â€Å"Ghostery†

Does it matter whether or not firms pay dividends Why Essay

Does it matter whether or not firms pay dividends Why - Essay Example Those companies use that undistributed earnings to reinvest in the business and thereby increase the size of the organisation. Evidently, this practice may adversely affect the financial interests of company shareholders. However, the current market position of the firm particularly influences the implications of non-payment of dividends on the business. This paper will specifically discuss what happens whether or not firms pay dividends. Why some companies pay dividends while some others do not? Undoubtedly, a company tends to pass its earnings to shareholders as remuneration for their investments and hence to retain their interests in the company. When an organisation pays attractive dividends, existing shareholders can significantly gain from their investments. It forces shareholders to stay with the company, and the payment of dividends may also assist the company to attract new potential stakeholders (‘Investor Relations’ 2010). It is clear that dividends paid for a fiscal period is appeared on the consolidated balance sheet prepared at the end of that period. Investors mainly scrutinise current dividend rates so as to decide whether or not to purchase the stocks of the firm. Usually, if investors find that the company offers poor dividend rates, they would not be much interested in investing in that firm. It must be noted that the price of a share is greatly affected by the demand for that particular share in the stock market. Thus, poor dividend rates and non-payment of dividends may cause the firm’s stock prices to decline. Evidently, no company would be willing to accept a decline in its share prices. Therefore, today many of the companies strive to meet its investors’ interests and to attract new potential investors by paying attractable dividends to stockholders. In contrast, rapidly growing concerns would keep maximum money with them so as to promote further growth. Hence, those concerns would not pay dividends. Even a mat ure organisation which believes that it has further growth potential may choose to reinvest its earnings into the business. Companies that do not pay dividends may use the saved money to invest in a new project, acquire new assets, repurchase their shares that have been sold to outsiders, or even to buy out a running company. Many firms avoid paying dividends to eliminate the huge expenses of issuing new stocks. By keeping their full earnings with them, companies can get rid of the risk of raising funds to meet their various needs. Does it matter whether or not firms pay dividends? The implications of payment or non-payment of dividends on the business may vary according to the investors’ actual investment interests. If the business is still rapidly growing and the investor has long term interests in the company, then non-payment of dividends would not matter. More precisely, when an investor aims at high rates of returns on his investment in the long term, he would be willin g to sacrifice his short term financial interests for the long term growth of the firm. As discussed already, the reinvestment of earnings in the business would greatly assist a growing organisation to fuel its business growth. Therefore, a financially sound investor would support reinvestment of profits for the further growth of the business. From a tax perspective, non-payment of dividends can better serve the financial interes

Hospitality sales and marketing Case Study Example | Topics and Well Written Essays - 2750 words

Hospitality sales and marketing - Case Study Example Since it is a vital component of marketing, product development determines whether or not a business succeeds in its industry. In this context, the term product development incorporates services, hence its application to service-based industries. Since the beginning of the 20th century, firms have become increasingly reliant on the superiority of their products to gain and maintain competitive advantage. Lee (2013) argues that the importance of the product is evident in theoretical and practical knowledge, typified by the notion that the product precedes all other requirements for starting a business. The product is also considered by many scholars to be the most important of all Ps (Cunill, 2012). It, therefore, follows that product development is a fundamental aspect of business growth. This leads to one of the most common business practices and a major source of competitive advantage: integration. When companies integrate, they do so to encourage expansion and domination in a specific industry. There are two types of integration that can be used by any company to give a company greater more presence in any market: horizontal and vertical integration (Evans, Campbell & Stonehouse, 2012). This literature review will lean towards the latter as it is relevant to the subject. According to Fazlollahi, Franke & Ullberg (2012), historically, firms used vertical integration to influence access to limited resources. In the contemporary business setting, companies are disintegrated both internally and externally, and they engage in numerous joint ventures and strategic alliances as part of their growth strategies (Lahiri & Narayanan, 2013). It has even become common for corporations to outsource even those processes that are usually viewed as key. Some of the best examples of vertical integration can be found in the oil sector. In the 70s and 80s, numerous firms were involved in the pro specting and

Layoff Protocol Assignment Essay Example | Topics and Well Written Essays - 250 words

Layoff Protocol Assignment - Essay Example The layoff protocol is to be facilitated by the directors in close co-operation with the management team. It takes into account the current emotional and psychological distress being experienced in the organization and therefore requires that the implementation team adequately communicates the importance of this activity. The criteria of selection shall be pegged on four major benchmarks that will include the years of service, the nature of work, performance appraisal records among other factors like recommendation by head of departments according to fairness and the organizational policy. The management shall look into requests for volunteering workers who intend to leave for other reasons. Secondly, the committee shall proceed to look at the classification of employees on the stated factors as indicated above. The order of priority shall be given to technical employees, those who have served for longer years and are therefore not able to look for other places and highly performing employees as recognized by the human resource policy mechanisms. It is notable that the board arrived at this decision after considering other options and therefore it was the last option. The laid off workers shall also be given priority for redeployment should the current situation

Louis Vuitton Moët Hennessy Essay Example for Free

Louis Vuitton Moà «t Hennessy Essay Louis Vuitton Moà «t Hennessy (LVMH) is a French multinational luxury goods conglomerate. Its headquarters are located in France, Paris. LVMH was formed after the merger of Louis Vuitton (fashion producer) and Moet Hennessy (cognac manufacturer) in 1987. The company controls around 60 subsidiaries which are often managed independently and each one of them manage a small number of prestigious brands. The main holding company of LVMH is Christian Dior a luxury goods group. LVMH is the largest luxury goods producer in the world. Comparing LVMH with Hermes, LVMH has a huge corporate power, which Hermes doesn’t have and a vast variety of many familiar luxury brands. Some of the most well known brands of LVMH: * Acqua di Parma * Christian Dior S.A. * DKNY * Fendi * Hennessy * Louis Vuitton * Moà «t Chandon * Parfums Christian Dior The current share price of LVMH is about 140 Euros. The following chart represents the revenue of LVMH in million Euros for the first 9 months from 2011 till 2012 in each group. The mission of LVMH group is to represent the most refined qualities of Western Art de Vivre around the world. LVMH aims in continuing to be synonymous with both elegance and creativity. Their products, and the cultural values they embody, blend tradition and innovation, and kindle dream and fantasy. In view of their mission, five priorities reflect the fundamental values shared by all of LVMH Group stakeholders: Be creative and innovate Aim for product excellence Bolster the image of their brands with passionate determination Act as entrepreneurs Strive to be the best in all they do One of the main values of LVMH that clearly relates to the core business of the company and the opportunities pursued in business development is acting as entrepreneurs. As previously mentioned, LVMH has about 60 subsidiaries which all manage some brands and most likely LVMH is aiming to obtain more partners and subsidiaries for luxury product manufacturing in the future. Other value that clearly reflects to their actions and business strategy is to strive to be the best in all they do. In this case it is more than obvious that this value is essential for them based on the fact that LVMH is the leading luxury goods manufacturing company in the world. Innovation is also a value that pursues in their business development, because by obtaining new subsidiaries and partners they create new products in the luxury goods market. [ 1 ]. Online encyclopedia – Wikipedia. Link http://en.wikipedia.org/wiki/LVMH, Article LVMH [ 2 ]. Online encyclopedia – Wikipedia. Link http://en.wikipedia.org/wiki/Luxury_goods, Article – Luxury brands. [ 3 ]. Official website of LVMH. Link http://www.lvmh.com/the-group/lvmh-companies-and-brands [ 4 ]. http://uk.finance.yahoo.com/q?s=MC.PA [ 5 ]. Official website of LVMH. Link http://www.lvmh.com/investor-relations/documentation/revenue [ 6 ]. Official website of LVMH, Link http://www.lvmh.com/the-group/lvmh-group/group-mission-and-values [ 7 ]. Official website of LVMH, Link http://www.lvmh.com/the-group/lvmh-group/group-mission-and-values

Statutory Protection of Employment Law

Statutory Protection of Employment Law The Failed Promise of Statutory Protection The subject of the legal regulation of labor is one of great complexity. Up to the present time a priori objections to such regulations have delayed their introduction, and only gradually, as experience has demonstrated their usefulness, have they been extended to situations which seem to require them. In †¦ the United States the notion that the legislative power should not be used to regulate conditions of employment has been abandoned by most thoughtful persons, but the prejudice against interference is as strong as ever. Henry R. Seager, Economics, 1904, p. 431 Following a period of legislative inaction, selective statutory restrictions on the right to dismiss came into existence largely as a byproduct of labor legislation of the late 1920s and early 1930s. The introduction of limitations to the at-will rule within the NLRA framework, in particular, marked the long overdue recognition that, as long as employers had the right to dismiss employees, at-will public policy goals, such as industrial peace and the extension of orderly collective bargaining, were unattainable. Following a roughly historical chronology, this chapter explores how, from the 1920s onwards, restrictions on dismissals were constructed around notions of â€Å"orderly† collective bargaining. Thematically, the focus of the chapter is on the creation of new institutional structures and their impact on the status of workers in terms of job security. Underlying this analysis is the tentative hypothesis that the NLRA, and the practices which evolved from it, provided unions and their members with a sense of control over dismissal rights which was largely illusionary. This mistaken sense of control, in turn, encouraged unions to put efforts into job security enhancing measures at the plant and company level which ultimately did not constrain managerial prerogatives effectively. This lack of real control became apparent in the mid 1960s, when the Supreme Court handed down several decisions which reaffirmed the right of management to close branches and discharge employees without u nion interference. Apart from excluding non-unionized workers, the NLRA system, perhaps against the intentions of its original sponsors, ultimately came to severely circumscribe the right of unions to bargain over job security at the very time when such protection was needed. The Promised Lands of Protected Bargaining At the turn of the century, many US industrial relations scholars questioned the assumption that injustices in the labor market could be remedied through legislative acts and/or, more generally, via a strengthening of individual employment rights. Opposition to legislative approaches was grounded primarily in the belief that solutions to the â€Å"labor problems of industrial societies† could be created more easily by strengthening the standing of organized labor as collective bargaining agent rather than by creating a host of specific employment regulations.[1] Accordingly, in 1911, the Harvard economist Taussig suggested that the most urgent task in reforming US employment relations was not detailed new legislation per se, but rather the protection of bargaining representatives:[2] The workmen clearly gain by having their case in charge of chosen representatives, whether or not these be fellow employees; and collective bargaining and unionization up to this point surely bring no offsetting disadvantages to society. As to the immediate employees, there is often a real danger that he who presents a demand, or a grievance, will be â€Å"victimized.† He will be discharged and perhaps blacklisted; very likely on some pretext, but in fact because â€Å"he has made trouble.† In the 1930s, Taylors influential Labor Problems and Labor Law argued, very much along the lines of earlier reform advocates, that individual workers had been deprived of their ability to bargain primarily because of the expansion and centralization of management.[3] To remedy this situation, Taylor argued, the state had to enable workers to bargain collectively, both for wages and for the protection of their jobs. Said Taylor:[4] Legally free to dispose of his services at any price he deems just, immediate necessity in the face of an oversupply of labor reduces that freedom to empty words. His [meaning the workers] inferior bargaining position is not wholly due to economic inequality, but in part to a lack of knowledge of labor conditions, and a bargaining skill less effective than that of his employer. The injustices growing out of the individual bargaining burden affect not only the individual worker but the entire group to which he belongs. Unregulated competition resulting from individual bargaining tends to pull down the terms of employment to the level of the weakest employer Taylors notion that inequalities of labor were due to the exposure of workers to individual rather than collective bargaining echoed the opinions of some of the nations leading judges of the time. Judges Holmes and Field had earlier opposed bans on union activity on account of the fact that union activity merely counterbalanced the combination of capitalists.[5] Despite the gradual acknowledgement of the legitimacy of strike action by some courts, up until the 1920s, few judges had been willing to offer protection to those workers who were discharged for union membership or strike activity. In theory, collective bargaining could serve to limit the power disequilibrium between the employer, who, as Holmes says â€Å"is free to discharge the worker, and the worker who depends on his job for his livelihood.†[6] In practice, however, the relationship between job security and collective action had remained largely antonymous. Post World War I, workers who participated in collective action, be it as organizers or as strike participants, were likely to face retaliatory discharges or even blacklisting.[7] Industrial actions in which in excess of 1,000 workers were permanently dismissed included the Homestead strike of 1892, the Pullman strike of 1894, and the steel strike of 1919-20, which involved approximately 365,000 workers and resulted in over 10,000 permanent discharges. In the Boston police strike of 1919, in which the policemen struck for the right to organize with an AFL affiliate, meanwhile, more than one third of the police force were permanently discharged. The first congressional statute addressing issues of dismissal and organizing activity, the Erdman Act, had attempted to prohibit the retaliatory discharge of union members working on the railroads; at a time when the railroads were the only area where the Federal Government had the authority to regulate such matters. Passed by Congress in 1898, Section 10 of the Erdman Act made it an offense to threaten an employee â€Å"with discharge† or to blacklist the employee after a discharge because of membership in a labor organization. Specifically the Act read: [8] That any employer subject to the provisions of this act and any officer, agent or receiver of such employer who shall require any employee, or any person seeking employment, as a condition of such employment, to enter into an agreement, either written or verbal, not to become or remain a member of any labor corporation, association, or organization; or shall threaten any employee with loss of employment, or shall unjustly discriminate against any employee because of his membership †¦ or who shall, after having discharges an employee, attempt or conspire to prevent such employee from obtaining employment or who shall after the quitting of an employee, attempt or conspire to prevent such employee from obtaining employment, is hereby declared to be guilty of a misdemeanor, and †¦ shall be punished for such offense by a fine of not less than one hundred dollars and not more than one thousand dollars. In 1908, section 10 of the Erdman Act was declared in violation of the Fifth Amendment by the Supreme Court in Adair v. United States. This rather predictable decision again rendered members of labor organizations unprotected from retaliatory discharges.[9] Unionized workers were given some support by the courts in the Brandeis and Holmes Supreme Court decisions of the 1920s.[10] Explicit legislative protection of those engaging in organizing activity however commenced as late as 1926 with the passage of the Railroad Labor Act (RLA), which, apart from requiring employers to bargain with unions, prohibited employers from discriminating against union members.[11] The RLA applied originally to interstate railroads and related undertakings, but was later amended to include airlines engaged in interstate commerce. The Norris La Guardia Act (NLGA) of 1932 gave some federal sanction to the right of labor unions to organize and strike.[12] Implicitly, it also limited the ability of federal courts to enforce â€Å"yellow dog contracts,† under which workers promised not to join a union or promised to discontinue union membership.[13] The National Industrial Recovery Act (NRA) of 1933, the predecessor of the National Labor Relations Act, in troduced the idea of codes of â€Å"fair competition† which fixed wages and hours in certain industries. Title I of the Act, which was declared unconstitutional in 1935, guarantied the right of employees to collective bargaining without interference or coercion (which included the dismissal of employees). [14] The National Labor Relations Act (NLRA) of 1935, or Wagner Act, included some previously invalidated labor sections of the NRA, as well as a number of additions. Primarily concerned with restricting employer activities against union organizing and bargaining efforts, the NLRA prohibited employers from, firstly, â€Å"dominating or otherwise interfering with the formation of labor unions†; secondly, â€Å"interfering or restraining employees engaged in exercising their rights to organize and bargain collectively; and, thirdly, from â€Å"refusing to bargain collectively with unions representing a companys employees.† In doing so, sections 7 and 8 of the NLRA effectively tied the legal protection of employees from retaliatory discharges to the right of employees to organize collectively. The Act stated to this effect that:[15] Sec. 7. Employees shall have the right to self-organization, to form, join, or assist labor organizations, to bargain collectively through representatives of their own choosing, and to engage in concerted activities, for the purpose of collective bargaining or other mutual aid or protection. Sec. 8. It shall be an unfair practice for an employer— (1) To interfere with, restrain, or coerce employees in the exercise of the rights guaranteed in section 7. (2) To dominate or interfere with the formation or administration of any labor organization or contribute financial or other support to it†¦ (3) By discrimination in regard to hire or tenure of employment or any term or condition of employment to encourage or discourage membership in any labor organization†¦ (4) To discharge or otherwise discriminate against an employee because he had filed charges or given testimony under this act. (5) To refuse to bargain collectively with the representatives of his employees†¦ Under the NLRA regime, employers were required â€Å"not to refuse to bargain collectively with the representatives of his employees† with regard to â€Å"rates of pay, wages and hours of employment, or other conditions of employment.†[16] While the Act had made it clear that retaliatory dismissals of union members were illegal, it gave no guidance on the question of whether bargaining over â€Å"other conditions of employment,† included issues relating to job security.[17] Moreover, despite the appearance of sweeping legislation, coverage under the NLRAs protective umbrella was narrow. Public employees at the federal, state, and local level, agricultural workers, domestic workers, and supervisory employees all were excluded.[18] Nonetheless, for those covered by the Act, statutory dismissal protection was available in connection with established categories of protected activity the courts had created. This included dismissals for strike action, union membership and related activities. Indeed, at its outset, the NLRB rulings allowed significant numbers of dismissed employees to gain reinstatement. From the appointment of the Board in the Fall of 1935 until March 1939, the Board handled a total of 20,192 cases involving over 4.5 million workers. Of these cases 19,018 or four fifths were closed. Of the total cases closed, about 52% were decided by agreements, while the remainder were dismissed, withdrawn or closed in some other way before coming to the Board. About two thousand cases were strike cases, involving 356 thousand workers, of which 75% were settled and in which 227 thousand workers had to be re-employed. An additional 15 thousand cases were decided in favor of workers alleging non-strike related discriminatory discharges, and resulted in the reinstatement of the respective workers. Between January 1 of 1938 and April 1 of 1939 alone, the Board heard 1,675 cases alleging discriminatory discharges and ordered the reinstatement and/or compensation of 1,022 wo rkers.[19] In theory, there was a potential for collective bargaining agreements to include job security guarantees of some form. Given existing cultural pre-dispositions, both amongst the judiciary and managers, however, the possibility of partial union control over personnel and investment decisions was remote. Judicial support for the right to manage had a strong pedigree and its influence would not wane quickly. In the 1890s already, some state courts had felt the need to defend the right to manage. In the view of most courts this right was as much a part of the free labor creed as was the right to work. â€Å"Free labor† required that both employers and individual workers were fully responsible for their decisions. Permitting workers to organize and successively influence managerial decisions was viewed as a danger to free economic competition. In State v. Glidden, an outraged Connecticut judge stated, that once workers could influence managerial decision, no longer would the heads of industrial and commercial enterprises rise from the â€Å"ranks of the toilers, no longer could self-reliant ambitious men push to the fore.†[20] Unable to manage as they saw fit, businessmen would stop risking their capital, time and experience. â€Å"At best, the nations business would be conducted by paternalistic enterprises, at worst anarchy pure and simple † would prevail. At the turn of the century, Taussig had already predicted that union demands for job security would clash with managers insistence on â€Å"the right to manage.† His Principles of Economics stated to this effect that:[21] Private ownership carries with it the seeds of conflictthe inevitable clash between those who employ and who are employed. Disguise it as we may, smooth over to our utmost, adjust where we can, there the conflict is, ever liable to break out. The private employer regards his business as his own, its methods of management as subject to his own judgment. It is almost invariably urged by him and his spokesman that the effective working of the business machine depends above all on unfettered freedom in the selection and tenure of employees. So long as this attitude prevails, the workman will feel in turn that he must retain his weapon of defense, the strike, even though it entail injury to a wide circle of persons. Even if employers were to consent to restrictions on their power of discharge, contests would remain, strikes would brew. And on the other hand discharge is but one of the matters in which employers absolute rule is to be questioned. Discharge is conspicuous because it is t he outstanding weapon. As long as unions and their members had little formal protection through the law, management had been able to assert its dominance with relative ease, if only by dismissing those who questioned it. Once NLRA legislation protected concerted action, this situation had changed radically, and conflicts between unions and management over dismissal rights were pre-destined. When President Truman called the second National Labor Management Conference in 1945, labor and management representatives found themselves unable to agree on the boundaries of collective bargaining. Disagreement had arisen particularly with regard to managements right to make workers redundant, close and/or relocate branches. The statement of the management representative at the conference expressed the employers dismay over this matter:[22] Labor members of the Committee on Managements Rights to manage have been unwilling to any listing of specific management functions. Management members of the Committee conclude †¦ therefore, that the labor members are convinced that the field of collective bargaining will, in all probability, continue to expand into the field of management. The only possible end of such a philosophy would be the joint management of the enterprise. To this management members naturally cannot agree. Management has functions that must not and cannot be compromised to the public interest. If labor disputes are to be minimized, labor must agree that certain specific functions and responsibilities of management are not subject to collective bargaining. In theory, the evolving conflict about the appropriate limits of collective bargaining, and particularly the rights of labor to interfere with managements redundancy and dismissal decisions, was resolved by reference to new management concepts such as the residual rights doctrine. In practice, a set of employer friendly court decisions and the decline of unions in the US settled the issue, first, in rough terms, during the first decade of NLRA rule, and then, in greater detail, over the following three decades. The notion of residual rights, which deserves a passing mention in this context, developed from the 1940s onwards to become a prominent feature of the management of industrial relations in the 1960s and 1970s. The residual rights doctrine postulated that management rights were the result of an evolutionary process, whereby initially management possessed total freedom in ordering the affairs of the enterprise. This included freedoms with regard to whom to hire and dismiss and when to do so. Union demands and labor legislation encroached on this freedom. It followed that every time a manager made a contractual concession, and/or every time a labor law restricted management options, the original rights of management were reduced. What remained then were the residual rights, not specifically renounced by management or restricted by law.[23] If, for instance, management renounced the right to dismiss according to productivity or any other performance criterion and agreed to dismiss accord ing to seniority, seniority replaced managements previous decision criteria. Meanwhile other issues, such as how many workers could be dismissed in a specific time period, remained within the exclusive sphere of managerial decision making.[24] Adopting this view, many arbitration decisions applied a two-stage approach to questions about the appropriate bargaining remit of a union. If union representatives and management disagreed on whether an issue was a legitimate bargaining item, previous contractual agreements as well as legal requirements had to be investigated. If no explicit statement restricting managements rights in the respective matter could be found in these sources, the issue typically had to be considered as falling within managements remit. Since explicit renunciations of the rights to dismiss were typically rare, management usually maintained broad discretion over dismissals, which fell outwith causes covered explicitly by just-cause rules. Because existing practices and informal agreements had little legal bearing on conflicts over the interpretation of the NLRA, the residual rights doctrine offered almost no guidance to the courts in evaluating the legitimacy of union involvement in termination decisions. Here an alternative, and in many ways even more restrictive approach, evolved over time. While the NLRB of the early years generally looked favorably upon workers whose discharge could in some way be linked to union activity, it also condoned a wide set of permissible grounds for dismissal. In this context, several NLRB decisions early on vindicated traditional assumptions about managerial prerogatives. Discharges were sustained by the NLRB in cases involving gross inefficiency of a worker, incompetence, change in equipment, â€Å"ruckus and horseplay†, absenteeism, brawling, cursing of the boss, and the violation of company rules.[25] Most importantly, discharges in the absence of employee misconduct were fre quently declared permissible if there was no evidence for anti-union activity. This included discharges for lack of work, which were generally approved by the Board even in absence of union consultation, as long as anti-union bias could not be proven. In its Seagrave decision of 1938, for instance, the Board set a precedent for the preservation of employment-at-will within collective bargaining.[26] Seagrave, an automotive equipment plant had discharged an employee three weeks after he got his job. The foreman testified to the fact that the employees work was satisfactory. The worker, a CIO member, had previously been arrested for disorderly conduct during a strike and alleged that he was fired because of this previous involvement, and, more specifically, because his foreman had received a blacklist showing his name. The spokesman of the company explained that the polisher was hired because of a temporary emergency arising from the receipt of a special order, and that he was dismiss ed when the work on that order let up. The Board found no evidence for anti-union activity and declared the dismissal legal. In the case of Sheba Ann Frocks (1938), similarly, thirty employees, who had been dropped from the payroll of the Sheba garment plant, complained to the Board alleging that their discharge was based on their CIO membership.[27] Company officials testified that the layoffs took place because of a lack of work at the end of the regular production season. The Board accepted this explanation because the company retained over half of its CIO employees and discharged non-union employees as well, although not proportionally. In its conclusion the Board stated that, in the case of a dismissal for legitimate business reasons, such as slack work, no consultation with union members was required. While NLRB decisions of the late 1930s, such as Seagrave and Sheba, delineated the space between dismissal protection and managerial prerogatives more or less by default, several court decisions attempted to give guidance which was general enough to be applied to other contexts. This tendency towards establishing a formula which ringfenced managerial decision making from union intrusion could already be detected in the Supreme Courts ruling on NLRB v. Jones Laughlin Steel, the landmark case better known for its acceptance of the NLRA. In Jones, the Supreme Court stressed that although the Act required bargaining, it did not â€Å"compel† agreement.[28] For the Supreme Court, in other words, the NLRA was legal because, and only because, the Act did not interfere with â€Å"the normal exercise of the right of the employer to select employees or to discharge them.†[29] That, in defining normal rights, the Supreme Court emphasised the right to discharge workers did not bod e well for those who expected the Act to significantly reduce arbitrary dismissals. With Jones, the court had indicated that outwith matters directly related to collective bargaining, employment-at-will was still very much in place, with restrictions only affecting those discharges which were explicitly declared illegal in the NLRA. More importantly, it had implied that would be difficult to create an agreement sanctioned and protected by the Act which would eliminate the right of employers to discharge workers for â€Å"legitimate† reasons. In NLRB v. Sands Manufacturing (1938), a federal appeals court was even more explicit in affirming managements freedom to dismiss workers.[30] In Sands, a collective agreement between the company and MESA, a labor union, was broken by the union. The company apparently bargained collectively with MESA. After two months, the company signed an agreement with another union, some of whose members were employed in order to replace MESA members. The NLRB ordered reinstatement of the MESA employees and requested the circuit court to enforce its order. The 6th circuit set aside the order and dismissed the petition to enforce. With respect to the termination of the employer-employee relationship the court stated that:[31] The statute [meaning the NLRA] does not interfere with the normal right of the employer to select or discharge his employees If employees violate their contract they may be discharged for that reason and this does not constitute a discrimination in regard to tenure of employment nor an unfair labor practice, nor does it continue a discharge because the employees are members of a union. [T]he statute does not provide that the relationship held in status quo under Title 29, Section 152(3) [meaning the prohibition of dismissals during strikes] shall continue in absence of wrongful conduct on the part of the employer and of rightful conduct on the part of the employees. If such were its meaning, the right of the employer to select, and discharge his employees would be cut off. The Sands decision was in many regards more radical than previous rulings. In Sands, the court had concluded that, provided the employer had engaged in bargaining, NLRA legislation had to be interpreted so as not to otherwise constrain the employers rights to select and discharge employees. In other words, the court indicated that any action which would effectively restrict the right of employers to discharge, after basic bargaining obligations were met, could be struck down. While both the Jones Laughlin Steel and the Sands cases redefined space for at-will discharges relatively broadly, the Supreme Courts 1942 Montgomery Ward decision attempted to give a comprehensive definition of managements rights which gave managers broad control over discharge decisions.[32] In its Montgomery Ward decision, the 9th Circuit excluded from arbitrable grievances:[33] changes in business practice, the opening and closing of new units, the choice of personnel (subject, however to the seniority provision), the choice of merchandise to be sold, and other questions of a like nature not having to do directly and primarily with the day-to-day life of the employees and their relations with supervisors. Although Montgomery Ward supported traditional concepts of management rights with respect to day-to-day arbitration, it left open a number of important questions with regard to dismissals arising as a consequence of longer term strategic decisions. This included questions relating to the dividing line between a rational business decision to relocate a plant, and one involving, for example, the elimination of a unionized plantan illegal antiunion activity. Moreover, the Courts decision to exclude changes in business practice from arbitrable grievances, merely prohibited unions from insisting on arbitration in these matters; and hence relieved management from the legal duty to discuss these matters in good faith. This did neither mean that union representatives could not bargain about these issues when contracts were negotiated, nor did it imply that once management conceded to union involvement in these matters, this involvement was illegal or unenforceable. The latter issue of bargaining about alleged management prerogatives was addressed first in 1952 in NLRB v. American National Insurance Group.[34] In American National, the Supreme Court held that management could enforce limits to bargaining on the basis of a management prerogative clause, under which the union was ousted from involvement in certain matters. American Nationals management prerogative clause included issues of discipline and work schedules; that is, statutory rights with respect to mandatory bargaining. The court, nonetheless, rejected the Boards position that employers were obligated to establish ongoing bargaining during the terms of the collective agreement on issues subject to defined managerial prerogatives. While in American National the company had attempted to impose broad limitations on bargaining rights, many companies insisted â€Å"only† on the type of management prerogatives listed in the Montgomery case, such as the freedom to decide on the closure of units. In the mid-1950s, Haber and Levison reported that over 80% of the contracts signed in the building industries contained one or another form of a managerial rights clause. Many of these clauses explicitly prohibited bargaining over issues of job security.[35] The management literature, meanwhile, welcomed American National because companies were now less likely to face NLRA proceedings if they refused to discuss issues of employment security. This was the case, not only where companies had gained past assurances that union representatives would respect managerial prerogatives, but also where such clauses could be â€Å"inferred† from existing bargaining agreements.[36] Management rights in matters of dismissals and layoffs were â€Å"clarified† further in the 1958 Supreme Court decision on Borg-Warner. In NLRB v. Wooster Division of Borg-Warner the Court held that there were three subjects of bargaining: mandatory, nonmandatory, and illegal.[37] The obligation to bargain, as specified in the NLRA, applied only to mandatory subjects. A nonmandatory subject was â€Å"permissive,† meaning that it could be raised by either party. However, when a party insisted on a position regarding such an area to the point of impasse, it was acting illegally under the provisions of the Act.[38] Since the law had defined the mandatory subjects of bargaining, Borg-Warner played an important role in the preservation of managerial prerogatives with regard to redundancies and dismissals. Under Borg-Warner, union demands for job security or employment guarantees could be rejected, as they could not be reasonably classified as mandatory bargaining items.[39] When determining what were mandatory and nonmandatory bargaining subjects, the NLRB and the courts of the 1950s and 1960s typically referred to the relevant NLRA section 9(a) which mandated bargaining for pay, wages, hours of employment, and other conditions of employment. Given these specifications, any issue involving pay and hours was obviously a mandatory bargaining item, requiring both parties to bargain in good faith or face sanctions through NLRB proceedings. More problematic was the clause including, â€Å"other conditions of employment.† When issues like redundancies, mass layoffs and mass discharges were at stake, the courts and the Board usually interpreted â€Å"other conditions of employment† to mean that union involvement in decisions about which workers were to be laid off or made redundant, was mandatory. To this effect union representatives were to be informed about planned manpower reductions. Union representatives were free to address issues related t o discharges, make suggestions with regard to manpower relocation, or suggest alternative ways of cutting costs. If the company refused, unions, however, could not insist on a settlement of the issue. While strike action relating to these matters was not per se illegal, any protracted industrial action on non-mandatory manpower issues was likely to be declared an unfair labor practice by the NLRB or the courts.[40] This approach, needless to say, gave unions with little power to influence a companys manpower decisions even in industries where levels of organization were high. Since it was often difficult to link a redundancy decision to union avoidance or to invoke contractual clauses which

Corporate Governance In Coca Cola Corporation Commerce Essay

Corporate Governance In Coca Cola Corporation Commerce Essay The Coca-Cola Corporation is dedicated to reverberation ideology of communal authority. The Board is designated by the shareowners to supervise their concentration in the enduring strength and the largely accomplishment of the production and its economic power. The Board provides as the eventual resolution manufacture body of the concern, excluding for individuals matters retained to or mutually shared with the shareowners. The Board elects and administers the associates of superior organization, who are charged by the Board with accomplish the production of the corporation. The Corporate Governance strategy, all along with the contracts of the all of the Board commission and the solution preparation of the Board afford the structure for communal supremacy at The Coca-Cola Company. Ethics Compliance: The core of the ideology and performance program at The Coca-Cola concern is our signs of Business behaviour. The system conducts the business behaviour; involves integrity and reliability in all substances. All of the executives and administrators are essential to examine and realize the system and pursue its instructions in the administrative centre and generously proportioned society. The policy is managed by the companys Ethics Compliance commission. This cross-functional superior administration group supervises the entire principles and acquiescence programs and resolves system infringements and regulation. Our Ethics Compliance workplace has functioning liability for edification, discussion, examining and estimation associated to the Code of industry perform and compliance concerns. Relates internationally obtain a assortment of moral code and compliance instruction options controlled by the Ethics Compliance Office. The company frequently screen and review the business to certify compliance with the system and the act. Coca-cola also sustains a constant rest of best-in-class values approximately the world that administrate how the company examine and hold Code concerns. In 2008, it modifies the Code to promote progress its efficiency. More than 20,000 contacts concluded more than 30,000 personally and web-based Ethics and Compliance guidance conference from August 2007 in the track of June 2008. All correlates will obtain in-person Code of company performs guidance in 2008. The company has skilled the contacts Code of dealing accomplish, European Union rivalry law, Latin American opposition law, economic reliability, logical possessions and spirited intellects, drug-free agency and avoids agency hostility. In 2006, company revolved out a simplified universal anti-bribery conformity program with partisan strategies, training and reviews. In accumulation, it extended the compliance program in the region of United State operates approved with opinionated policies, instruction and audits. Coca-cola associates, bottling colleagues, providers, regulars and customers can ask enquiries about the Code and former ethics and compliance subjects, or statement probable breach, through Ethics procession, a universal Web and telephone reports and exposure service. Phone calls are toll-free, and Ethics Line is accessible 24 hours a day, seven days a week, with obtainable translators. Corporate Social Responsibility: Coca-cola Greece was lately documented for its commercial collective responsibility attempts with 3 honours at the esteemed CSR distinction Awards formal procedure. The CSR superiority Awards identify accomplishment transversely all industries, not only food and beverage, and are honoured by a commission includes of convincing stakeholders, such as nongovernment associations and administration representatives. The appreciation of quality in 3 sorts exhibits the obsession of the coca-cola Company has for carrying the promises of subsist confidently stage to life at job and in the society. Continuous Achievement Award Human Resources Award Environment Award Vision 2020: The humankind is varying all around us. To prolong to succeed as a business for the next 10 years and beyond, we need to be required to stare forward, identify with the tendency and services that will figure out the business in the prospect and progress quickly to organize for whats to come. We have to get prepared for tomorrow today. Thats what the 2020 Vision is all regarding. It produces a lasting intention for the production and supplies coca-cola with a Route map for captivating mutually with the bottling partners. Coca-cola Mission Coca-colas Roadmap commences by means of the mission, which is durable. It proclaims the reason as a corporation and provides as the criterion oppose which the company consider the performance and resolutions. To energize the world To encourage moments of confidence and pleasure To generate assessment and compose a diversity. Coca-cola vision The Companys vision is to provide the structure for the Roadmap and conducts each and every feature of the trade by explaining what the company require to accomplish in order to prolong attaining sustainable, superiority development. People: Be an enormous circumstance to do job where persons are enthused to be the best they can be. Portfolio: convey to the world a portfolio of excellence drink brands that predict and convince peoples requirements and desires. Partners: cultivate a charming system of consumers and suppliers; collectively they produce common, lasting value. Planet: Be a conscientious national that makes a distinction by serving construct and maintain sustainable communities. Profit: exploit long-standing arrival to shareowners while being attentive of its all responsibilities. Productivity: Be an exceedingly efficient, lean and fast-moving organization. Task 2 Management of Financial Risk According to annual report, its clearly evident that, certain fiscal risks faced by Coca-Cola Hellenic occur from unfavourable variations foreign Exchange rates, in interest rates, product prices and other market risks. Company Board of Directors has accepted the Treasury Policy and graph of Authority, which mutually afford the organized framework designed for every treasury and treasury associated transactions. Currency Risk Given the Groups functioning performance, they are presenting to a major quantity of foreign currency risk. Coca-colas foreign currency disclosure comes up from disagreeable transforms in trade rates with the euro, the US dollar and the exchanges within its non-euro Kingdoms. Operation establishments begin mostly from the materials acquired in exchanges such as the US dollar or euro which can guide to maximum cost of trade in the functional currency of the country. Conversion establishments occur as several of its processing includes efficient currencies other than euro, and any change in the functional currency against the euro impacts our consolidated income statement and balance sheet when results are converted into euro. Coca-cola treasury plan involves the prevarication of progressing Twelve month estimated operational outcomes contained by the distinct least (25%) and maximum (80%) exposure stages. Prevaricating away from a Twelve month span may arise, theme to convinced greatest coverage levels, granted the estimated transactions are extremely credible. Where available, we use derivative financial instruments to reduce our net disclosure to currency changeability. These conventions generally established in one year. Interest Risk The Team represents to market risk occurring from varying interest rates, first and foremost in the euro zone. Intermittently they estimate the required combination of fixed and floating rate responsibility and adapt the interest expenses based on the required combination of debt. They cope up the interest rate expenditure by means of an arrangement of permanent and floating rate debt, interest rate switch and choice cap agreements. Though they have denial place of target for the assortment of set to floating rate liabilities, traditionally they have been extra showing to floating rates as this has be inclined to act as a expected evade against on the whole business risk. Credit Risk Credit risk is inhibited by a provisional procedure as to the option of probable oppose parties for treasury dealings. The Companys credit risk is handled by launching a permitted opponent party and country confines, detailing the highest experience that they organized to admit with deference to individual counterparties or countries. The restrictions are reconsidered and observed on an expected basis. Liquidity Risk The common strategy is to maintain a least quantity of liquidity engages in the structure of currency on the balance sheet when sustaining the stability of our liquidity engages in the variety of idle dedicated amenities, to make sure that the Company contain cost-effective admit to enough economic assets to convene the financial support desires. These embrace the routine backing of all its process in addition as the funding of the resource disbursement program. In order to alleviate the opportunity of liquidity limitations, Company make an effort to sustain a least of à ¢Ã¢â‚¬Å¡Ã‚ ¬250 million of fiscal headroom. Monetary headroom refers to the surplus engaged funding obtainable, later than considering cash flows from functioning performance, dividends, acquisitions, tax expense, interest expense and capital expenditure requirements. Risk Map: 10 High 9 Quadrant II (Detect monitor) Quadrant I (Prevent at Sources) 8 Significance 7 6 Low 5 Quadrant IV (Low Control) Quadrant III (Monitor) 4 3 2 1 1 2 3 4 5 Low Likelihood High The risk map positions every risk in the next four Quadrants: Prevent at source risk Risks in this Quadrant are categorized as prime Risks and are rated High precedence. They are crucial risks that intimidate the accomplishment of concern purposes. These risks are mutually considerable in significance and probable to arise. They should be condensed or removed with defensive reins and must be organize assessment and testing. Detect and Monitor Risks Risks in the quadrant are momentous, but they are fewer possible to arise. To make certain that the risks stay little probability and are administered by the concern suitably, they require observing on a revolving base. Detective powers must be positioned into a place to make sure that these high consequence risks will be identified ahead of they crop up. These risks are second main concern behind prime risks. Monitor Risks Risks in the quadrant are not very important, but contain a superior possibility of happening. These risks should be watched properly to certify that they are being properly supervised and that their implication has not distorted due to varying business circumstances. Low Control Risks Risks in this quadrant are equally improbable to take place and not considerable. They involve least observing and supervise if not consequent risk category. Task 3 a) Risk Factors In Further the consequent issues, which may extensively influence the trade, financial circumstance or results of operations in future periods? The risks explained below are not the single risks facing Coca-Cola Company. Further risks not currently recognized by company or that they presently consider being inappropriate also may effectively unfavourably affect the business, economic condition or result of operations in future periods. Current risk faced by Coca-cola Health Concerned Risk Customers, communal physical condition officials and government officials are appropriately increasing concerned about the public fitness consequences connected with stoutness, mainly between adolescent populace. And also, few researchers, fitness supporters and nutritional procedures are cheering customers to decrease expenditure of sugar-sweetened drinks, together with those sugared with HFCS or other nutritive sweeteners. Rising community anxiety concerning these matters; probable new dues and law-making system concerns the advertising, labelling or accessibility of the drinks; and harmful promotion consequential from definite or endangered authorized performance in opposition to the coca-cola or other companies in its manufacture relating to the advertising, labelling or deal of sugar-sweetened drinks might decrease requirement for companys beverages, which may possibly influence its profitability. Environmental Risk H2o (water) is the major element in significantly all of the coca-cola products. It is also a partial source in several parts of the world, facing supreme disputes from over utilization, mounting contamination, broken administration and weather change. As requirement for water prolongs to enhance all-around the world, and as water becomes scarcer and the superiority of obtainable water deteriorates, Companys classification might obtain increasing production costs or face potential boundaries which could destructively change the productivity or net purposeful returns in the extended run. Business financial risk The non-alcoholic beverages business surroundings is hastily developing as a effect of, among other things, changes in customers inclinations, together with altered based on health and nutrition concerned and obesity anxieties; variable consumer tastes and needs; changes in customers standard of living; and spirited product and pricing demands. As well, their manufacturing is being affected by the trend toward consolidation in the market conduit, especially in Europe and the United States. If they are unable to successfully adapt to this rapidly changing environment, the companys share of sales, capacity growth and overall economic grades could be depressingly affected. Risk factors which the Company may face in future Technological Risk Coca-cola relies on data based knowledge system and schemes, include the Internet, to progression, broadcast and shop electronic information. Especially, Coca-cola depends on its information technology communications for digital advertising performance and electronic infrastructure in its areas approximately the world and between Company personnel and our bottlers and other customers and suppliers. Defence violation of this infrastructure can create system disruptions, shutdowns or unauthorized disclosure of classified information. If they are not capable to prevent such breaches, Companys operations could be interrupting, or they might undergo economical damage or loss because of lost or misappropriated information. Climate risk The sales of the products are inclined to several extents by climate circumstances in the markets in which they function. Strangely wintry or rainy weather conditions at some point in the summer months could have a provisional consequence on the insist for all its products and contribute to lower sales, which could have an adverse effect on our results of operations for such periods) Risk analysis management techniques Risk management frequently concentrates on matters of indemnity. Conversely, there are number of further main considerations when evaluating areas of risk into a big business initially; they require equally reliability and the infrastructural proficiency to make the progression. Secondly, they should entirely recognize their association, and its progressions and objectives. And thirdly, they must be consisting of support and hold up from the association and the administrative team. Coca-cola Amatol (CCA) comes under the category of being risk conscious, but not obsessed by dictatorial condition. CCA is increasing its risk management representation to manage enterprise-wide and supply to the eventual productivity of the business. This result will be achieved not only by sustaining sound business decisions but also all the way through configuration of the organizations strategies with its shareholders and investors aspiration to make sure that efficient business authority is in place. CCA, inside the broader coca-cola structure, is on an ERM expedition. They are determined to take out the conventional split and soloed approach that regularly exists in organizations and they are responsibility so by taking an approval and possession of the risk management process. At CCA they know the significance of the essential values of the ERM process. They are: a dedication to the journey; an reasonable framework that embraces a general language; a uniform approach to- no matter the nature of the business unit or its objectives; a statement form that identifies stakeholders, corresponds the course and objectives; and drives literary modification; and ensuring advice of the outcome through an elimination of black holes or silos. Risk Management Plan There are four stages to risk management planning. They are:  · Risk recognition Risks Quantification Risk reaction Risk Monitoring and Control Types There are several definite risk management techniques as there are sort of industry, but once a risk has been recognized and considered, largely efforts at justifying the risk fall into four essential grouping in spite of the framework. The initial, prevention, can be as easy as not committing in activity that manufactures the risk, but this not only eradicates risk but potential benefits as well. Risk reduction through concrete steps is far more general, and the particulars will be associated to the type of business and risk involved. Risk transference is also highly advantageous as when an accessible choice; it involves outsourcing the difficulty to an additional article such as in the course of acquire of insurance. Ultimately, risk preservation is predictable in a few cases where the risks are either improbable, or the costs of explanatory or transferring the risk are excessive. C) Communicating with stake holders Many of coca-cola stakeholders consist of all those who are generally influenced by or who most influenced the means the company run the big business. This includes customers, consumers, contractors, and workers, Government supervisors, NGOs plus the confined communities in which the company operates. Coca-cola regularly connect with its major stakeholders as exposed in Diagram In addition, they conceded a detailed investigation in March 2007 to classify the most important areas of concern for its stakeholders. This implicated a succession of focal point groups with customers aged 18 and over and with workforce of both CCE and CCGB. It also incorporated the interviews with consumers, non-governmental organisations and the media. The study exposed a strong agreement of estimation between the diverse stakeholder groups and provided an obvious graph of the areas of liability they most require to concentrate on all these areas. Coca-cola stakeholder study has also helped out to refine its prospect strategy on communal and ecological issues. On every key subject it contains Next Step the act which has to be taken in the following year to certify that the business persists to make an optimistic impact. Consumer Communication On June 11 2010 Coca-cola has published that the Coca-cola Poland has completed a foremost move a head forward in how it instructs customers regarding recycling, by integrating its Recover-Recycle activity into every main coca-cola labelled or supported huge events this year. A vast My Coke sampling program, which happened between April and September 2010, is one of the key promoting performances where coca-cola Poland will report to customers about the profit of recycling through Recover-Recycle. Conclusion: There is no doubt that the Coca Cola is the second largest beverages company in the world. However, it should work on above mentioned deficiencies to overcome them and strive to make its competitors lagged behind. The Company coca-cola have a corporate (Head Office) section that is liable for giving the Company a largely course and provided that sustain to the provincial formation. Means considered choice at the Coca-Cola Corporation are completed by a managerial Committee of 12 concerned Officers. This commission assisted to form the six strategic priorities set out in previous. The financial resources allocation for the Vision 2020 had been discussed under the six Ps as laid out by the company. International through to grass-roots and the community, Coca-Cola has strengthened its position as a football insider and this helps to build the brand and corporate reputation of Coca-Cola. Last year, Coca-cola saw its sales decreased in UK market. In order to re create the sales, Coca-cola to define new communication plan such as Recover-Recycle activity.