Can False Memories be Implanted?

Will False Memories be Implanted? Ajantha Uvaraju Unique This investigation is to discover that is it workable for memory to be embedded in understudies. It is speculated in the event that the memory built for embedding is exceptionally a conceivable occasion, at that point it is more probable for production of bogus memory to happen. Thirty members of first year Monash University understudies are enlisted. Every one of them is went with an accomplice who is firmly identified with the subjects (ie: parent, kin or close relative who realized the subject excessively well). The accomplices are solicited to peruse depictions from 2 occasions happened to subjects when they were 5 years of age and a bogus occasion. The one conceivable bogus occasion is portraying of the subject being lost in a shopping center while shopping delineated from Loftus and Pickrell (1995). While the other is a less conceivable memory is a short-term hospitalization for a high fever with conceivable ear contamination made up by Hyman et al (1995). Subjects are part int o half where one gathering gets the conceivable occasion while other the less conceivable. Subjects are approached to review everything that they could recall about each event.After that, they are likewise asked to the rate the certainty from size of 1 to 5 (1=not sure and 5= amazingly sure that it has occurred). Here member would recall the more conceivable bogus memory contrasting and lesser one. As memory that is progressively conceivable will in general have higher rating in certainty and in clearness. It is discovered that the more conceivable the occasion is bound to be planted in memory than the less conceivable occasion. Presentation Individuals compare of memory regarding a chronicle gadget, capacity to precisely recording and putting away everything that occurs with impeccable exactness and clearness. As a general rule, memory is inclined to paradox. This is because of presence of bogus memory. Bartholomew, (2001) portrays bogus memory as a psychological encounter which erroneously taken for a portrayal of an occasion from one’s individual past It comprises of either recollecting things or occasions that never occurred, or recalling that them uniquely in contrast to the manner in which they really happened. Memory of bogus occasion has practice particularly by clinician. One of it is quelled memory recuperated from an observer by means of trancelike influence of an occasion that had happen 20 years prior is utilized to affirm against a convict of homicide. Regardless of this without trance, contemplates show that people’s recollections are available to impact. For example, Loftus and Pickerel (1995) who led research on grown-ups in regards to recollections of their youth occasion that occurred and requested that they recall these occasions with a bogus memory included into also. Investigations exhibited that recollections for completely bogus occasions can be embedded. It has been contended that there are cutoff points to the sorts of occasions or convictions that can be intriguingly embedded, and that solitary occasions that are conceivable can be embedded in memory ( Hyman, Gilstrap, Decker, Wilkinson, 1998 ; Hyman Kleinknecht, 1999 ; Lindsay Read, 1994 ; Pezdek, Finger, Hodge, 1997 ). On the side of this announcement, a report by Pezdek at. al (1997) shows effectively embedding a memory of being lost in members, however being not able to embed a memory for a less conceivable occasion (getting a rectal bowel purge). Albeit, not many past exploration like Loftus was to be sure an outline of planting bogus occasion in subjects. In any case there are disadvantages. The memory utilized in embedding here is normal along these lines interestingly embedding a memory like losing all sense of direction in the shopping center have high possibility of succeeding. In this manner this examination is to discover the job of occasion believability in memory planting by looking at the kind of bogus memory embedded like high conceivable bogus occasion and unlikely bogus occasion and its impacts on certainty rating among college understudies. It is estimated on the off chance that the memory built for embedding is profoundly a conceivable occasion, at that point it is almost certain for making of bogus memory to happen. Technique As referenced the members of this examination are understudies of first year from Monash University comprising of 15 females and 15 male understudies and age must be 18 years or more seasoned. Each subject is required to bring an accomplice who is: (1) close to multi year more youthful than subject, (2) was close family member or kin of the subject and (3) have been in contact with subject at age 5 to 6. The examining strategy utilized here is accommodation sampling.The techniques will be affirmed by the Monash University Human Research Ethics Committee Plan In this investigation the autonomous variable is kind of bogus occasion which isplausible and least conceivable event.Plausible occasion is subject being lost in shopping center and the least conceivable occasion is for the time being hospitalization because of fever with conceivable of ear disease. Concerning the needy variable is certainty and lucidity rating. This examination is plan in a test system and between-subjects try structure. Materials The needy variable is estimated as far as lucidity and certainty where in clearness rating is a scale from 1 to 10, with 1 as muddled to 10 being clear and furthermore the pace of certainty from size of 1 to 5 (1=not sure and 5= incredibly sure that more could be recollect. System Study starts with the subjects’ accomplice recorded as a hard copy the participants’ cherished recollections in a booklet, and from that rundown of the beloved recollections two recollections are picked and along with the developed one. Members are haphazardly and uniformly relegated into gatherings of two with each gathering has its unmistakable condition. In Group (1): Subjects are given two recollections of genuine occasion and one memory of bogus conceivable occasion, gathering (2): two recollections of genuine occasion and one memory less bogus conceivable occasion. The accomplices are told to peruse a short depiction of the picked course given to them to individual subject which incorporate the name of occasion and time of subject when it occurred. Subsequent to perusing the depiction members will be solicited to review themselves from the occasion and to discuss what they can recollect space is additionally given in filling in their piece of the memory. Toward th e finish of the meeting they are gotten some information about the occasion talk about and were later require another meeting in seven days time. Following seven days they were introduced rate their memory as far as certainty. They the rate the certainty from size of 1 to 5 (1=not sure and 5= very sure that this occasion happened in their youth. At long last after complete rating they are to be educate on the exploration objective and furthermore in regards to that the specific memory proposed are imaginary. The members do gets our conciliatory sentiments for our misdirection and are approached to figure which memory is valid and which is bogus. Results In this investigation result includes in number of subjects who recalled the more conceivable occasions versus less conceivable occasions and certainty rating given its highest significance. Information on subject recollecting genuine occasion is ignored. The information will be examinations in that capacity: 1) including number of subjects accept conceivable occasions in each condition in bunch 1, bunch 2. Same goes for number of subjects who accepted the less conceivable occasion. 2) The sum are contrasted and one another. It is ordinarily that number of subjects recalling the conceivable occasions surpasses more than the less conceivable occasions. Subjects evaluated their certainty rating on every occasion on the term that how positive they are of that the occasion occurred. With a size of 1 to 5 (1=not certain and 5= amazingly sure that it has occurred). It very well may be conjecture that the generally evaluating score for conceivable occasion will be more than 1 contrast with the relative less conceivable occasion. Based from scores the mean for certainty rating will be determined for both occasion. On the off chance that the theory is upheld the mean trust in conceivable occasion will be high and less for less conceivable occasion. Just as the middle will show the comparative example with a higher valu contrast and the less conceivable occasion. Conversation The motivation behind this investigation is to test the theory that the memory developed for embedding is profoundly a conceivable occasion then it is almost certain for formation of bogus memory to happen. It is anticipated from the finding that generally conceivable occasions are bound to be review than less conceivable occasions. As indicated by Pezdek, Blandon-Gitlin and et. al (2006) the purpose for this is a direct result of the critical collaboration of credibility and creative mind is that if individuals see that occasion as conceivable, they will in general inquiry a greater amount of their personal memory for important subtleties of the occasion. Study gave by Pezdek, Finger and et. al (1997) shows the finding that generally conceivable occasions are bound to be planted in memory than moderately improbable occasions has suggestions for the intellectual procedures basic suggestibility. In their examination three occasions were erroneously reviewed and that every one of the t hree were generally conceivable occasion. This can be clarified by means of writing of content handling on understanding subjective procedure. In view of Grasser, 1981: Grasser and Nakamura, 1982), a particular memory follow is framed by the comprehender when a scripted movement is experienced. This is on the grounds that memory follow comprises of pointers to an embodiment content that has been duplicated from a perpetual nonexclusive content. Subsequently the embodiment content for the particular occasion incorporates all the content pertinent activity activated by the accomplished occasion just as content applicable activities that were activated as a matter of course because of content based derivations that happened during understanding. This implies when a portrayal of a particular event of a movement recommended to an individual and inquired as to whether it has happened to the individual, in a split second the individual will cross check the memory proposed with his or herâ €™s own memory for related event of that action to confirm if a match is found. Whenever depicted memory and memory of individual covers there is almost certain a match and the portray

Divine Chocolate; Marketing and Communications Plan Essay

Divine Chocolate; Marketing and Communications Plan - Essay Example They make obstructions in the conveyance channel by offering alluring rewards to retailers who outperform their preset targets. Divine likewise comes up short on the global economies of scale that the dominators appreciate. In an exploration directed in 2007 perfect held 0.3% of the all out chocolate deals in the UK when contrasted with 83% market shared by the three overwhelms. The utilization of reasonable exchange accreditation has contributed fundamentally to the promoting interchanges of perfect chocolates to the shoppers. An exploration directed in 2007n demonstrated that most buyers had left other chocolate marks for Divine because of the sign of value and its awesome taste. It along these lines, has been recommended that Divine ought to build up a showcasing plan concentrated on imparting it item to retailers and last shoppers based on reasonable evaluating, item separation and accentuation on quality. All in all, it has been built up that however divine is a little association it has a high capability of the highest point of the worth chain. It all the highlights required to get their solitary arrangement is embracing a correspondence plan concentrating on the retailers and achieving economies of scale. Divine chocolate organization, is an assembling reasonable exchange chocolates UK and United States, denoting its first foundation in the UK in 1996. It accomplices with Kuapa Kokoo cocoa producers from Ghana, lighthearted element and Christian guide. It has an interesting exchanging framework; the ranchers are the fundamental investors in the organization. Its first item, Divine milk chocolate, has been propelled in late 1998. Another scope of its items incorporate dim chocolate and drinking chocolate; it propelled another item in 2000 called dubble, as a team with lighthearted element. The brand was later on dispatch in the US in mid 2007. Right now three principle associations own celestial chocolate organization. These associations incorporate Kuapa Kokoo; a gathering of cocoa makers from Ghana own 45% of the offers, Twin exchanging

Why You Should Avoid Writing for Content Mills

Why You Should Avoid Writing for Content Mills Many freelance writers work or have worked for a content mill at some point. Many have regretted the experience. Content mills are websites devoted to posting tons of articles on almost every subject imaginable (and some that arent, see number six, below). Quality standards vary and most pay very little for the work required. While some writers hope that content mills will help them break into freelancing or be a way to make some extra cash, both are unlikely. There are many good reasons to shun the mills. Here are some of the best: Paltry pay There are two issues with this. First, content mills pay pitiful rates, some as low as a penny per word. This means that a 700-word article would only net you $7.00. The federal minimum wage is higher than that. To make just $20,000 a year youd have to write 2,857 articles. Thats nearly eight articles per day. Every day. No vacations or weekends. Even if you can crank out one per hour, thats an eight-hour workday every single day of the year. And youd still only make $20K. There are much better ways to make money. Second, the low pay of content mills contributes to a growing problem for writers: The desire of content providers to get quality work for low pay. When other content providers see the mills paying such paltry rates they figure, Hey, why should we offer more? The low pay model seems to be working for them. It gets harder for writers to command the rates that they deserve when there are so many low paying markets out there having no trouble filling writing positions. Stick up for yourself and your worth and refuse to work for less than you legitimately deserve. The mills stifle creativity and quality Content mills are oriented toward one thing: Search Engine Optimization, or SEO. This means that your articles will be crammed with specific keywords that will try to bounce that article to the top of any search for those keywords. The problem is, its difficult to do this well and still produce a high quality, creative article. Youll be churning out work that fits a very narrow set of requirements. Theres no room for your unique voice or any facts or issues that deviate from the narrow focus required by the mill. You probably wont gain any respect Some writers believe that the mills are a way to break in and gain writing credits that can be parlayed into higher paying gigs. This is rarely the case. Because these pieces are rarely your best work (written quickly, skimpy on details, etc.), you may not even want to submit them as credits. And even if you do, most reputable, higher paying markets will not view them as quality credits. You may be able to get away with listing some content mill pieces in an otherwise robust portfolio of work, but as your sole credits those pieces will not gain you the respect you need to get ahead. Hoop jumping Youll likely have to jump through a lot of hoops (submit an audition piece, articles have to go through an approval process before being accepted, there may be a probation period where you have to submit articles but you wont get paid, etc.). You may play their game and go through all of their processes and still not get paid or hired on as a contributor. Youre probably better off writing for publications that have much clearer acceptance and employment processes. Frustrating guidelines Many content mills have a lot of guidelines for their writers, and some are not clear or are ever changing. For example, they may place limits on the sources you can use for research to keep you from using competing publications. However, you may not be provided with a list of banned sources until your turn in an article that includes one. Then your article gets rejected. You probably wont work with one editor all the time, either, and each one may have a different set of expectations and standards. What is accepted by one may be denied by another, even within the same section of the website. Formatting may be another area where one segment of the site follows one set of rules while another follows something else. These formats may not be expressed clearly in the beginning leading to more rejected articles. Sometimes it can feel as if the mills are doing everything they can to make your job harder. You may end up churning out ridiculous, nonsensical work Content mills often come up with the title and then expect you to write the article to match. Since most of the sensible titles have been used, you get some strange titles that are largely just hot SEO keywords lumped together. They may make no sense at all and there may be no way to write an article that makes any sense. Writing about Clay Aiken The Pokemon Earthquake would be a stretch for even the most gifted writer. Youre not building a network that you can draw upon later When youre writing for the mills, youre not working with reputable professionals who can help you make contacts or navigate the publishing world. Youre not working with publishers, agents, and editors that garner respect in the writing world. They wont make useful references or help you further your career. You dont care, and it shows Writing for a content mill is about one thing: Generating a lot of words quickly. It doesnt matter whether you care about the topic or not. It doesnt matter whether you know anything beyond the basics or not. All that matters is the words. As a result, the articles show no passion and no depth. They read like what they are: Something rushed together without a care about the subject. If you want to be known as a writer who writes compelling, accurate, engaging, and informative pieces, a content mill is not for you. Youre not learning anything There are no professional editors helping you polish your work and teaching you how to become a better, more engaging writer. They may check for basic grammar and spelling errors, but thats it. Youre not learning how to research or conduct interviews because youre simply culling the most basic information off a list of pre-approved sources. Youre not learning how to market your work because the site is doing that for you. Youre not learning any of the skills that a professional writer needs to succeed. All youre learning to do is write to a specific formula that is useless in any field other than the content mills. The ratio of time to money is way off Youll spend the better part of a day churning out an article that might pay you $5. Even if youre super fast at writing and researching, youre still going to put in a lot of time for very little money. Time is the one resource you cant get back. Its generally better to spend your time working on things that will grow your brand as a writer and lead to better paying work. Work on your own website/blog that you can monetize, pitch articles to well-paying publications and sites, seek out corporate clients, work on that novel, or get that non-fiction book proposal together. Sure, not everything you try will lead to big bucks, but if youre only going to earn pennies anyway, it might as well be in the service of something that you can build on and control rather than a content mill that is taking your labor and giving you nothing in return. The mills are like quicksand Its too easy to get sucked in. You start out just trying to bridge the gap so you can make rent this month or put aside a little fun money. Before you know it, though, youre working day and night for the mills because you need the income. You think youre making some sort of progress in your career, but all youre really doing is wasting time that could be better spent putting together higher quality gigs. You cant get out because you need the money, but the mill is sucking up all of your time that you could use to look for better work. It becomes a vicious circle. Opportunity rarely knocks When you write for reliable, reputable publications and websites youll probably be surprised at the opportunities that surface. People see your work and ask you to write for them, or ask if they can obtain the rights to publish your piece elsewhere. This doesnt happen with the mills. People may see your work, but they arent likely to care. You have no protection or control If the content mill folds, youre out of work and you likely wont be paid for any outstanding work. They can terminate your account at any time and for any reason. They can refuse your article for any reason and not pay you. As a professional freelancer, you should have more protection than this. Most legitimate freelance projects come with contracts that cover what happens in the event your article is rejected or needs more work, the editors/owners change, etc. There is more protection for you than youll ever get with the mills. The only reason to write for a content mill is if you really enjoy the process or youre just killing time and want a little extra cash. That might make all of the other hassles worth it. If youre looking to advance your career, however, the mills are largely a waste of your time. There are far better ways to make money, improve your writing, and build your writing brand. Spend your time wisely by seeking out legitimate clients and working with true industry professionals. The mills will simply take your time and give you little in return. (Photo courtesy of Johann Dreo)

The Price Mc Simulation On Gt Values - 1536 Words

0.0037 in field C. Nevertheless, similar with two other larger fields, the mean and median values are still similar with base-case value. There are several things that can be concluded from oil price MC simulation on GT values. First, there is 100% probability that the forecast GT at all fields are above 68%. Second, the CoV level from field A to field C is increasing, in-line with the rising level of GT. As discuss in the previous section, due to the regressive nature of Indonesia’s PSC term, the GT level in field C, which have the lowest profitability, is the highest among other model field. Therefore, the rising CoV is once again has been the evidence of higher risk and uncertainty, which reflects on the higher GT due to the regressive†¦show more content†¦Furthermore, triangular distribution on devex is employed to model the simulation. Figure 4.24 Field A Post-tax NPV - Monte Carlo Simulation on Devex per barrel Based on figure 4.24, there is 48.58% probability that the post-tax NPV forecast values in field A are greater than the mean forecast scenario of 1,118 million. In addition, there is 100% certainties that the forecast values is positive. The values prediction are ranges between $770 million and $1,473 million. Furthermore, the mean and median forecast values, which are $1,118 million and $1,114 million, are significantly higher than the base-case due to the influence of more profitable forecast results. The CoV is at 0.1363, while the level of skewness is at 0.054. Figure 4.25 Field B Post-tax NPV - Monte Carlo Simulation on Devex per barrel Field B has similar mean and median values of around $446 million. Similar with field A, it is significantly higher than the base post-tax NPV level. Moreover, there is 50.41% certainty that the NPV forecast values are greater than the base-case value of $153 million. In addition, it ranges from around $236 million to $650 million. The CoV is at 0.198, slightly higher than the value in field A. Figure 4.26 Field C Post-tax NPV - Monte Carlo Simulation on Devex per barrel Figure 4.26 shows that there is about 51% probability that field C post-tax NPV values are bigger than the forecast mean of $152 million. Then, it ranges

People s History Of The United States By Howard Zinn Essay

The book People’s History of the United States by the author Howard Zinn represents the history to the readers in a different perspective, making the readers look into the history in a difference lens making it insightful. What is a history? To answer this question, we must first establish a commonality in language: namely, what is history? It is a continuous, systematic narrative of past events as relating to a particular people, country, period, person which is usually written as a chronological account. The author discusses about how the major events were recorded and mainly the stories which were untold to the people and were left out of the mainstream history books. In the first few chapters he gives critical details about how America was founded by Christopher Columbus and gradually moving into detail about how he killed hundreds of native Indians in the process of capturing the country. The author then moves into giving the readers about hidden class struggles and the p eriod of time where racism was affecting a majority of the people. Howard Zinn also mentions about the wars, the Vietnam war and the Civil war that had changed the lives of many in the past and how it has made a major impact in the past and today to the people. Some of the details in the book are real life experiences by the author, because he is not only a writer but had also served in the army in the world war two as a pilot, which makes the readers understand every detail of some events as it is toldShow MoreRelatedAnalysis Of Howard Zinn s A People s History Of The United States 2266 Words   |  10 Pagessettlers. After the Revolutionary War in the late 1700’s, matters only got worse for the Native Americans. Population was skyrocketing due to a great deal of immigration of white settlers in the early to mid 1800’s, and there wasn’t enough space for everyone. With this came expansion, and to reach the goals they had set out for it, the Native Americans ha d to go. A prime example of this is shown in Howard Zinn’s â€Å"A People’s History of the United States,† where in chapter seven he talks about the forcedRead MoreThe Patriot s History Of The United States1589 Words   |  7 PagesAfter the Civil War, the United State began to experience an industrial growth that was unparalleled to any nation. There were new advancements among America’s transportation, manufacturing and agriculture industries. While an economic growth was occurring in the nation, the national government was inactive, almost forgotten between all the new innovations achieved during the late 19th century. Looking back at the Industrial Revolution, there are many perspectives of the events that occurred duringRead MoreAnalysis Of Howard Zinn s The United States 1224 Words   |  5 Pagesâ€Å"There is an underside to every age about which history does not often speak, because history is written from records left by the privileged.† ― Howard Zinn, A People s History of the United States Zinn once remarked, â€Å"Objectivity is impossible and it is also undesirable. That is, if it were possible it would be undesirable, because if you have any kind of a social aim, if you think history should serve society in some way; should serve the progress of the human race; should serve justice in someRead MoreAnalysis of A People’s History of the United States by Howard Zinn696 Words   |  3 Pagesteaches and inspires. Howard Zinn has offered us a perspective of the real story of American history heretofore unavailable to us – history from the perspective of real people – immigrant laborers, American women, the working poor, factory workers, African and Native Americans. A Peoples History of the United States, originally published in 1980, as a work of non-fiction by the political scientist and American historian, Howard Zinn. Zinn seeks to show us American history through the eyes of commonRead MoreHistorical Contridictions in Slavery1494 Words   |  6 PagesThe history of American Slavery has been recounted by many scholars, taking into account different perspectives. During the 1850’s an abolitionist movement began, gaining momentum to pass anti-slavery legislation. Slave owners concerned about the growing movement, decided to take the matter into their own hands and fight for their property rights. Now as historians look back and analyse slavery, many different ideologies are constituted. While the depiction of philosophy in history is a way to analyzingRead MoreAnalysis Of Howard Zinn s The Mind Behind Dozens Of Books 1381 Words   |  6 Pages History can be defined as the study of past events, focused particularly in human af fairs. Historians must research and infer to propose educated guesses to correctly document events of the past, which leaves a lot up to personal interpretation of limited facts. People often forget there is not just one sole history of something. Rather, a history of a people is composed of many different individuals living in the same time. Perspective can skew what history becomes. The past does not changeRead MoreAnalysis Of Howard Zinn s Indians History Of The Us And Larry Schweikart s, Patriots1516 Words   |  7 PagesHistory 2112 Critical Analysis Paper #1 Dr. Pitts James Hamby Monday-Wednesday 8:30pm Patriot’s vs. People’s Howard Zinn’s, Peoples’ History of the US and Larry Schweikart’s, Patriots’ History of the US are two analytical views on history that most people would consider politically conflicting. Zinn’s Marxist book was widely praised by liberal activist and Schweikart’s book is greatly publicized by conservatives like Rush Limbaugh and Glenn Beck. These two widely known historians turned theirRead MoreExploring Howard Zinns Life 1575 Words   |  6 PagesThis paper explores Howard Zinn’s life as an influential historian and public intellectual. It argues for his critical, singular position as an academic who left a mark on generations of Americans as well as international persons by guiding us all to critically view various institutions and structures of power, particularly in the realm of government. By looking at four major aspects of his life, as radical historian, civil rights crusader, anti-war activist, and labor rights activist, the p aperRead MoreHoward Zinn s The United States997 Words   |  4 PagesHoward Zinn s A People s History of the United States has been highly influential since its initial publication in 1980. It spawned adaptations for young readers (a two-volume adaptation by Rebecca Stefoff: A Young People s History of the United States) and The People Speak, a History Channel documentary based on Zinn s work. Zinn himself was until his death in 2010 a heroic figure to many, especially for this book and for his ongoing teaching and social activism, which were directly relatedRead MoreA People s History Of The United States2575 Words   |  11 PagesSujay Deshpande Mr. Lifland AP US History 1 August 2015 A People’s History of the United States: By Howard Zinn Chapter 1: Chapter one of Howard Zinn’s A People’s History of the United States discusses the differences between the culture and attitudes of the Europeans and the Native Americans. It further describes how the Europeans came to the New World and committed genocide against the Native Americans in order to get land and gold from them, which displayed the cruelty and greed of the European

The Theme Of Light And Darkness In Oedipus - 1293 Words

My new question is, was Oedipus blind before he saw the truth or after? When finally accepting the truth the blind prophet mentioned, Oedipus blinds himself because the truth is darkness. When he had his sight, he was blinded by ignorance, and to see the truth was to see the horrors he had committed that caused himself to be blinded both before he saw the truth and after. I suppose in this way, Oedipus is blind throughout the entirety of the play. The theme of light and darkness is relevant beyond the characters. A major plague is the cause for Oedipus’s investigation into Lanius’s murder, and consumes the plot of the first half of the plague. How does the reality of the plague and the theme of light and darkness influence the actions of†¦show more content†¦Upon Oedipus’s return from the interaction with Teiresias, Oedipus accuses his brother-in-law Creon for setting up the meeting with the prophet to kill him, and steal his throne. With no proof of thi s besides his strong dislike for the prophet, he accuses Creon of treason and calls for his execution. Oedipus’s quick judgements are once again in question. Why does Oedipus feel so threatened by Creon, and how does Creon’s responses demonstrate the truth of each character? I have chosen the input of Rebecca Curtis with her book Self-Defeating Behaviors, to further understand the characters.14 With psychological research and evaluation, I want to understand why Oedipus gives such misguided responses to a family member and friend. In relation to Oedipus’s initial accusation, Curtis offers that, â€Å"All too often, incorrect beliefs about other people (social impressions) also lead to self-defeating behaviors.†15 I understand this to mean that as soon as Oedipus displays this misunderstanding of Creon’s character, he was doomed to fail. What is most troubling to me about the conversation between Oedipus and Creon, is Creon’s quote, â€Å"Re ason it out, as I have done,† and proceeds to logically give explanations of his intentions and is willing to forgive Oedipus.16 How can Oedipus respond with the want of Creon’s death? Is this response the most explicit form of inability to sensible evaluate the truth? Oedipus, as previously evaluated, holds the loftyShow MoreRelatedFree Oedipus Essays : Forms Of Light And Darkness1600 Words   |  7 Pages FORMS OF LIGHT AND DARKNESS IN OEDIPUS REX As a key theme in Greek literature, it has been mentioned that truly the only ones who can see are blind. Specifically in the play â€Å"Oedipus Rex†, Sophocles has focused on nurturing the idea that there is no requirement of eyes for having a real sight, as there requires an ability for seeing beyond the dimension of elements. As per Sophocles, one should not have the ability of seeing something, but one must have the ability of understanding it (Eskin,Read MoreThroughout most famous Greek literature, a great hero usually saves the day. In the story of900 Words   |  4 Pagesusually saves the day. In the story of Oedipus though, the good man with one minor flaw goes through great pain. This pain in the play Oedipus Rex is the focal point for the whole play. Almost every aspect of the play builds up and foreshadows Oedipus’ fall from power, and entry into pain. Sophocles in his tragedy Oedipus Rex creates a mood of dramatic irony using the dualities of sight and blindness, and light and darkness. This dramatic irony highlights Oedipus’ hamartia and in doing so SophoclesRead MoreThe Flaws Of Arrogance In Oedipus Rex By Sophocles796 Words   |  4 PagesBenjamin Whichcote once said, â€Å"None are so empty as those who are full of themselves.† The words ring true through the character Oedipus whose tragic flaw of arrogance brought his downfall. In his timeless play, Oedipus Rex, author Sophocles unflinchingly illuminates the haughtiness and hubris displayed by the hero Oedipus. Through his candid exploration of the ship/captain and light/dark motifs, Sophocles makes an effort to ultimately bring the reader to the realization that arrogance creates an illusionRead MoreOedipus The King Theme Essay1076 Words   |  5 Pages Oedipus the King: Themes of Blindness and Sight in the Sophocles Oedipus the King What does it mean to truly see? Do those blessed with normal vision really see? Oedipus the King by Sophocles’ is intertwined with many powerful themes and messages, establishing what real vision and real sight are. Sophocles’ play also demonstrates that sometimes in life we have to experience great loss in order to rediscover our true selves. In Oedipus’s quest for truth, lack of self-control, ignoranceRead MoreOedipus, A Liar, By Sophocles839 Words   |  4 PagesIn the play Oedipus Rex by Sophocles, Oedipus remains blind throughout the play, both figuratively and literally. The play is about a man named Oedipus whose fate is to kill his father and marry his mother. His biological parents, knowing about the Oedipus’ prophecy, abandons him, and continue with their lives. However, Oedipus is saved, but spends his life running away from his adoptive parents (who he believed to be his biological parents), afraid that the prophecy may come true. As the audienceRead MoreOedipus Rex1350 Words   |  6 PagesGreek Tragedy The Greek drama Oedipus Rex is clearly a tragedy. It definitely meets the five main criteria for a tragedy: a tragic hero of noble birth, a tragic flaw, a fall from grace, a moment of remorse, and catharsis. Interestingly, even though Oedipus the King came before Poetics, Sophocles’ play illustrates Aristotle’s rules for classical drama. Oedipus the King particularly displays a tragic emotion, a tragic character, and a tragic fall. Aristotle also writes that such a drama ought to haveRead MoreWilliam Shakespeare s Oedipus, A Play Written By Sophocles1553 Words   |  7 Pagesconvey dramatic irony through diction that symbolizes something to the audience. Oedipus, a play written by Sophocles, contains numerous accounts where the author uses words to convey a deeper truth about characters and their experiences. Sight, light, blindness, and darkness all have a literal meaning, but when placed into this play, with its intricate plot, they express the dramatic ironies that unfold between Oedipus and his past. Greek tragedies are known to use language that expresses the deeperRead MoreLight And Darkness In Oedipus Rex1467 Words   |  6 Pagesforms of light and darkness. To the ancient Greeks, whether one is in darkness or light is determined by their ability to see spiritually, which they believed the physically blind were capable of. This contrast between spiritual sight and mere physical sight is a major theme in Oedipus Rex, the Greek tragedy written by the legendary Sophocles, a Greek playwright so skilled that he won the Festival of Dionysus approximately twenty times with his masterfully crafted tragedies (Buller). Oedipus Rex isRead MoreAnalysis Of Oedipus Oedipus The King 1152 Words   |  5 Pages The theme of sight and blindness is undoubtedly important to notice while reading Oedipus the King. The number of times the words â€Å"see† or â€Å"blind† are in the play make it make it undeniably obvious that they are significant. The theme is developed throughout the dialogue, through characters such as Tiresias and Oedipus, and also directly in the irony of the play. It is important in a play about the truth because almost every character was â€Å"blind† to the truth. All of the characters, except oneRead MoreAnalysis Of Oedipus Rex1024 Words   |  5 Pages In the play â€Å"Oedipus Rex† by Sophocles, the story revolves around the central theme of prophecy, and forces the reader to seriously consider the extent to which the protagonist’s doom is dependent upon his own free will or is predetermined by fate. In the story, Oedipus was not a victim of only his actions or only his fate, but his actions and fatal flaws did affect the path that he took to his demise, through his pride/ignorance/temper, his unquenchable thirst for knowledge, and his cowardice

Reflective cycle after watching video of Miss Colo Essay Example For Students

Reflective cycle after watching video of Miss Colo Essay rado speaking about the role of the Nurse. Introduction It is very important that wedevelop a reflective style in nursingto improve our nursing practice.For the reflective process I will be using the Gibbs reflective process which is a six stage processofdescription,feelings/thoughts, evaluation, analysis, conclusion and action planCITATION GGi88 l 3081(Briggs, 2012).There are a large number of models to choose from,the Gibbs methodallows for a clear description of situation, an expression of how you felt about the situation and an analysis and plan to make sense of the situationCITATION Jay12 l 3081(Jayatilleke Mackie, 2012)CITATION Som04 l 3081(Sommerville Keeling, 2004).Reflection is a skill which helps us develop as nurses and make us improve our practices in nursing and utilize the knowledge that we have gained in class, and begin to perfect it in practice. Description: The YouTube videohas Miss Colorado describing her role as a nurse and discussingthat one patient that reminds them of why they became a nurse in the first place. Her story is of Joe who was an Alzheimers patient and is so touched by her care that he says to her she has changed his life and she is more than just a nurse.Miss Colorado reflects on this conversation and realizes she is more than just a nurse, she is a comforter and a life saver, not just a number. Ms. Colorado somewhat downplays her role when compared to other health professionals and makes it seem small in proportion to other health care professionals and to the role of doctors.WhenJoe says to her canyou change the medication for me,and can change thetreatment status for me she said I am just the Nurse, I am not your doctor. This is an odd description of the situation given that she walks on to the stage with a stethoscope, implying some role in themonitoring and reporting of the health status and treatment effectiveness of the current health intervention.Her discussion concerns the actions of a good nurse, and in particular that of patient centered care which has been identified by the Institute of Medicines, quality chasm report as one of the six key elements of the New Health Care SystemCITATION Eps11 l 3081(Epstein Street, 2011). The role of the nurse is a critical element in the process of patient centered careand their role is equal to all other members of a multidisci plinary healthteam despite the difficulties and skepticism that many nurses have for multidisciplinary team workCITATION Atw06 l 3081(Ke, et al., 2013). Feelings I felt that the speech was very emotive and true and also she managed to get a very positive response from the audience.Iwas drawn in byher story of Joe as it reminded me of the very human element of our jobs, andmany of the patients and families that I have come into contact with.She mentions her impact on Joe but of course does not go into much detail as to the role of modern nurses.She was trying to be empathetic to the patient in the video whichI feel is very important howevermuch of the descriptiondoes not match my personal experience of the nursing profession, and possibly does not give a real insight into modern nursing and the core role of nurses and their everyday experience.I felt the video gives a romantic view of what being a nurse is like and so lacks some realism. Good Feelings: At a patient care level, she demonstrates a lot of good qualities in terms of how she deals with Joe in that she is aware of the effect of his treatment on the people around him like his family and how this impacts on them which I feel is a very important trait for nurses and secondly, even thoughshe has not mentioned about the roleof every day nursing other than just holding Joes hand when he has night terrors,which is lacking in the video she tries to tell the patient identity in the respectful way which isa very good way of communicating with a patient with Alzheimers. The Video showed thateven though she will not be able to save the life of Joe, she plays an important role in the comforting and assistance of Joe. In some ways the video significantlydownplays the role of nursing as not being responsible for changing treatments, medication and having no opinions or voice as to the treatment that Joe should be receiving. Another important thing is that she was taking about the twitter and Facebook and she was trying to bring the Nursing professionals together in order todiscuss ideas and concerns online which I feel is a great idea and can improve nursingprofessionalismthrough sharing ideas online and comparing the experiences of everyone Bad Feelings When the patientasks her tochange the medication andasks if shecan change the treatmenthowever she does reinstate a negative to her argument when she says that I am just the Nurse thus downplaying the importance of her role in diagnosis and treatment which I felt was a negative comment and not in line with the rest of her monologue. Thus in some ways she has downplayed the role of nurses as being lower to that of doctors and other health professionals.The nursing profession is becoming increasingly specialized with training and education being at the heart of developing modern nursesCITATION Cro09 l 3081(Crookes, 2009).Shehas therefore lowered the standing of nursing in the eyes of the public with that comment. Despite her strong confidence in how she presents herself, I felt that in some ways the videoshows a negative impression to the nursing professionand also forwomen.Her role is subjugated to that of other more important professionals and as a women I found that hard to justify.The good thing about this video is that she has mentioned that every patient is not called by the disease name and by the bed number which is true.This has put a publicface to nursing and importantly shown that Registered Nurse plays a very important role to the health service and we play a vital role in providing comfort and dignified care to people like Joe who really need it. . The High Cost of Junk Foods EssayConclusionI have drawn two main conclusions from the above reflection. The first is that there are misunderstandings of the role of nurses in the monitoring and evaluation of health interventions, and the second is that we should never forget the importance of empathy in order to be good nurses that can make a difference to the lives of patients. The first is that in the publics eye, there is some confusion as to the role that nurses play in the administration and monitoring of the medical needs of patients. The second conclusion is that it is important that we never forget the importance of caring for patients in a manner that can genuinely have some positive impact on the lives of patients, their families and our own lives. To become great nurses we should never forget that we play a major role in the lives of people, often shortly before they pass away. It is clear from the comments on the view and the discussion of nursing and the role of nursin g as a result of the monologue from Ms. Colorado that more needs to be done to lift up the role of nurses in our society and to ensure that the profession achieves the respect that it deserves. Many people may feel that the role of nurses is lower than that of doctors and other health professionals, and that nurses simply have a role in listening to doctors in a passive manner and simply following instructions. Action PlanFrom the conclusions above I think it is important that we educate patients and families as to our roles in the health service. As discussed there is some confusion as to the role that nurses play in the administration and monitoring of the medical needs of patients. In the future I will ensure that I talk to patients and families about what I do and how I will care for them while they are in hospital and it is also important to continually communicate with their families and loved ones. Many people may feel that the role of nurses is lower than that of doctors and other health professionals and that nurses simply have a role in listening to doctors in a passive manner and simply following instructions. On a personal level, it is important to continually educate myself as to improve my job performance as it is clear that my responsibilities will continually evolve and become more complex and more diagnostic. Secondly I think it is important for us as nurses to continue to communicate with patients and try to make a difference in their lives. From the video we can see the importance that Joe places in Ms. Colorado as his nurse and that she has genuinely made a difference to his life. . References BIBLIOGRAPHYAiken, L. (2011, January 20). Nurses for the future.New England Journal of Medicine, 364, 196-198. doi:10.1056/NEJMp1011639 Auerbach, D. (2012). Will the NP Workforce Grow in the Future?: New Forecasts and Implications for Healthcare Delivery.Medical Care, 50(7), 606-610. doi:10.1097/MLR.0b013e318249d6e7 Ball, J., Murrells, T., Rafferty, A. M., Morrow, E., Griffiths, P. (2013). Care left undone during nursing shifts: associations with workload and perceived quality of care.British Medical Journal, online. doi:10.1136/bmjqs-2012-001767 Briggs, J. (2012). Using reflective practice in frontline nursing.Nursing Times, 108(24), 22-24. Brown, T. (2015, September 18). Miss Colorado Started a Needed Conversation About Nurses.Time, p. online. Crookes, P. (2009). What is the role of the Registered Nurse?Collegian, 16(2), 47-48. doi:dx.doi.org/10.1016/j.colegn.2009.04.002 Epstein, R., Street, R. (2011). The Values and Value of Patient-Centered Care.Annals of Family Medicine, 9(2), 100-103. doi:0.1370/afm.1239 Jayatilleke, N., Mackie, A. (2012, October 17). Reflection as part of continuous professional development for public health professionals: a literature review.Oxford Journal of Public Health, 1-5. doi:10.1093/pubmed/fds083 Ke, M., Blazeby, J., Strong, S., Carroll, F., Ness, A., Hollingworth, W. (2013). Are multidisciplinary teams in secondary care cost-effective? A systematic review of the literature.Cost Effective Resource Allocation, 11(7), online. doi:10.1186/1478-7547-11-7 Smolowitz, J., Speakman, E., Wojnar, D., Whelen, E.-M., Ulrich, S., Hayes, C., Wood, L. (2015). Role of the registered nurse in primary health care: Meeting health care needs in the 21st century.Nursing Outlook, 63, 130-136. Sommerville, D., Keeling, J. (2004). A practical approach to promote reflective practice within nursing.Nursing Times, 100(12), 42-45.

Dominicans In America Essays - Hispanic And Latino American

Dominicans In America Andre Washington Wilbert Nelson Sociology 140 December 13, 1999 Dominicans, Americas Growing People for the New Millennium The Dominican Republic or also known as La Republica Dominicana is a small island that is 18,816 square miles, located off the coast of Florida. The Dominicans of this land share their island with the Haitians. The island has a subtropical climate, mountains, rolling hills, and fertile river valleys. The economy is mainly dominated by sugar, which still earns much of the countrys foreign exchange despite establishment of varied light industries and the development of nickel, mining and tourism. Coffee, cocoa, tobacco, and bananas are also a major export crop. But, despite their seemingly stable economy, and lush landscaping, a vast majority of the estimated 8,603,200 people that live there wish to migrate to the United States. This may be due to the fact that since the time the Dominican Republic was proclaimed in 1844 as a dictatorship, it has come under the attack of bad political leadership, and civil strife. In 1899 the country was bankrupted by civil strife after the murder of U lises Heureaux, their dictator. Shortly after that the country came under U.S. control. Even under U.S. control the country still suffered from dictators with highly restrictive policies on leaving the island, and harsh economic conditions. These terrible economic conditions only worsened and caused a gigantic influx of immigrants from the Dominican Republic to the United States in the early 80's and even more in the 90's (Hale-Benson, p. 97). The people came in groves to the United States seeking more opportunities and a better life, but they soon learned that they would face many of the same cultural, racial and ethnic barriers that other ethnic immigrants have faced when seeking a new life in a new land. In this paper I will detail the hardships Dominicans have suffered since their influx to America. Such as harsh economic problems here in the U.S., almost worse than those faced in the Dominican Republic, lack of quality and skilled job opportunities, due to a poor education, dis criminatory barriers they have been forced to endure and overcome, and various other obstacles that they have had to surmount, all while striving to become a productive and contributing people here in America. New York Citys fastest growing immigrant group are Dominicans, a Spanish speaking people, flocking from the Dominican Republic to the United States, New York City in specific. In 1980 the Dominican population in NYC was 125,380, in 1990 it was 332,713, and today in 1999 it is an estimated 500,000 people. The only problem with this is through the years of their migration to America, their per capita income has declined precipitously. It seems as though when the Dominican population in America increases, their income as a whole decreases. Nearly half of the Dominicans in NYC live below the poverty level. In 1990 29% of Dominicans where on welfare. Of foreign people immigrating to the U.S., only people from the former Soviet Union had a higher percentage of people living on public assistance. From 1989 to 1996 their per capita income declined 23% to $6,094 a year, in inflation adjusted dollars, while their poverty rate rose from 37% to 46%, that is almost double for the city as a whole. Unemployment also rose from 17.2% in 1990 to 18.8% in 1996 (Lopez, p. 3). The source of these severe economic problems according to Internet site, Latino Link, are from a lack of a proper education and skills, and their unusual young age. 6 out of every 10 Dominicans in the U.S. reside in New York City. Washington Heights, located in upper Manhattan houses the largest Dominican population nationwide. Dominicans make up 7% of NYC, but their children make up 12% of elementary age kids. On average Dominicans are much younger in comparison to Americans age in NYC. The average age for a New Yorker is 36, compared to 24 for someone of Dominican Heritage. This plays a large role in the problem they face when looking for skilled jobs. Researchers have said that their young age places a major barrier when seeking jobs outside of the blue collar market. Most Dominicans enter the full-time workforce here in America around

Internationalization Strategies The WritePass Journal

Internationalization Strategies Introduction Internationalization Strategies ). The final plan of the open-up initiative further relaxed the number and size of retail outlets that could be owned by foreign companies. In 1993, foreign companies were allowed to open up as many as 20 retail stores with a maximum size of 3,000 sq m. However, it was in 1996, that the FDI policy for the South Korean industry was completely liberalized allowing foreign supermarket giants to expand their international business operations in earnest. Sensing this opportunity, both Wal-Mart and Tesco entered the South Korean market almost at the same time; with both adopting different international business strategies (Retail 360, 2012). Market Entry Strategy Upon liberalization of the South Korean market, Wal-Mart attempted to make its way into the new market by building its own stores in remote urban areas of the South Korean cities where real estate prices were relatively lower than the main commercial centres. It was a clear replication of Wal-Mart’s US strategy of smaller-city store build-up. Wal-Mart succeeded in opening up a total of only 16 stores in all of South Korea; with having only one store in the Seoul metropolitan area. With this, the company failed to achieve the economies of scale. Wal-Mart anticipated that the Korean consumers, like those in the US, would drive to its remotely located stores for bulk price shopping. However, this location strategy proved to be contrary to the South Korean consumers’ lifestyle and shopping behaviours. Korean consumers preferred buying smaller units of goods more frequently and thus favoured accessibility to a store more over bulk price buying (Retail 360, 2012). Unlike Wal-Mart, Tesco took a more gradual path of market entry. Tesco entered the South Korean market through a joint venture with Samsung. Samsung is one of the largest South Korean conglomerates operating across a wide range of business sectors. With this market entry strategy, Tesco benefited from Samsung’s knowledge and know-how of local market and consumers behaviours whilst limiting its focus upon transferring its core retailing skills to the South Korean market. Tesco did not try to replicate its British version of retail business in the new market.   Tesco gradually increased its stake in its joint venture until it acquired 95% of its stake (Retail 360, 2012). Firm Size and Internationalization Management literature prescribes four fundamental business strategies and their coinciding business models for firm operating internationally. These are: Multinational organizational strategy: It resembles a ‘decentralized federation’, wherein each of the foreign subsidiaries of an organization can adapt the company’s products and services and even business strategies,   to meet the local requirements of its international destinations. The head offices of those companies adhering to this strategy presumably maintain only financial controls over its subsidiaries. International organizational strategy: This type of strategy resembles a ‘coordinated federation’ wherein the head office of a business is determined to transfer its knowledge, expertise and technology to its subsidiaries in new markets. The subsidiaries is foreign markets depend upon the headquarters for developing products and services, processes and ideas; although some tasks and authorities are decentralized. The subsidiaries enjoy some autonomy regarding policies and business level strategies. Global organizational strategy: This strategy essentially forms a ‘central hub’ wherein the centre has a stringent focus upon marketing standardized product and services across the globe through a predefined unified strategy. The head office observes a tight control over all the business activities with foreign subsidiaries being strictly confined to the implementation of the policies and procedures of the head office. Their task remains to provide only sales and service. Transnational organizational model: It resembles an ‘integrated network’ wherein ideas and information flows both ways from the head office to the subsidiary and vice versa. This strategy is prevalent in knowledge organizations and information technology firms and knowledge organizations. (Kairimi and Konsynski, 1991; Hill, 2003; Johnson and Turner, 2003) Considering the above theory, business strategy of Wal-Mart in South Korea can be described as being of ‘global organizational strategy’. Wal-Mart, which entered South Korea in 1996, disappointed South Korean customers by sticking to its Western marketing strategies. The company insisted upon focusing more on dry goods, ranging from clothing to electronics, just like its American stores, while its rivals focused more on selling food and beverages which according to experts attracts South Korean customers to hypermarkets/supermarkets. Moreover, Wal-Mart stores followed their traditional store design, making them look too simpler in appearance than its local rivals. Its store simplicity was further marked by its display strategy in wherein it sold its products in boxes, while most of its rivals built eye-catching display with clerks appealing to customers over megaphones and through hand clapping like a traditional street market (Sang-Hun, 2006 a). For instance, Wal-Mart d isplayed fish wrapped in cellophane, disregarding the South Korean custom of buying fresh fish (alive in tanks). Furthermore, by applying US standards to its stores in South Korea, the company failed to alleviate various difficulties faced by its customers. For instance, adhering to the US standards, the height of the shelves at Wal-Mart stores was too high for short South Koreans (Sang-Hun, 2006 b). Meanwhile, the business strategy of Tesco, can be described as that of a ‘multinational organization’. The South Korean subsidiary of Tesco operates with complete autonomy in terms of its business strategy and approach, following an organizational structure of a decentralized federation. This approach is evident from the company’s articulated ‘Homeplus’ stores, which have relatively different features than those of Tesco’s home country stores. The chairperson of the company’s South Korean division appears to formulate and execute its business strategy with a stern local perspective; a key constituent for the business’s success in South Korea. The most critical challenge for any company undergoing international expansion is to take into account the cultural differences between its home and foreign market (see Hofstede, 1991, 2001).  Ã‚   From the case of Wal-Mart in South Korea, it is evident that cultural habits and preferences play the most crucial role in determining the success or failure of a retail food business. In order to overcome this challenge, Tesco adopted a strategy to run its South Korean business in a strictly localized way. Pertaining to this strategy, the company employs a large number of local staff, even at its top most managerial positions. For instance, in 2008, out of its 23000 employees, only four of them were British; one of them being the regional director while the others were positioned at middle management (Davey, 2009). This strategy has proved to be very successful of Tesco. According to Martin Uden, the British ambassador to South Korea, the success of Tesco in South Korea is attributed to its strategy to run the business like a local one. He states that Tesco is just using its general retailing skills to run the company with a Korean approach (Davey, 2009). The company’s Homeplus format of stores is another reflection of its multinational business strategy. The Homeplus format stores are regarded as highly popular cultural centres as they facilitate community education within the premises of the hypermarkets. Overall, Homeplus stores in South Korea have more than 650 classes being conducted simultaneously to a school term in numerous subjects such as English and Chinese, Cookery and Ballet among others. In South Korea, sending children to private tuitions after school hours (called as ‘hakwons’) is a common practice. The provision of community education where children attend regular classes while their mothers occasionally accompany them for shopping is a highly successful approach. Apart from this, the Homeplus format offer sitting, resting and play areas for children. Moreover, instant snacks such as noodles and others are served at the corners of various aisles throughout the stores (Davey, 2009). South Koreans value the street market shopping experience along with the convenience of a hypermarket offered by Homeplus store. Such customer-focused approach which has been very popular in South Korea is achieved by the company’s overall international business strategy. Conclusion The opening up of South Korean market and its favourable FDI policies paved way for the international expansion of large multinational retail chains within the South Korean market. Wal-Mart chose to enter the new market with complete ownership of its subsidiaries, anticipating its success based on its homeland experience. Meanwhile, Tesco treaded the new water more carefully by choosing to enter the new market through joint venture, and gradually increasing its stake in the business. The international business strategy of Wal-Mart and Tesco differed starkly in regard to the South Korean market, with the former adopting a standardized approach, adhering to a global organizational strategy while the latter following a customized approach for the expansion in South Korea, adhering to a multinational business strategy. The standardized approach adopted by Wal-Mart failed to deliver the level of success desired by the company, leading to its ultimate exit from the South Korean market in the year 2006. Tesco, on the other hand, continued to progress and succeed in its South Korean market, acquiring a 95% stake in its joint venture with Samsung. It can be concluded that when there are stark cultural differences within the home country and the new target market, a multinational firm should best adhere to a multinational organizational strategy rather than adhering to a standard global strategy for international business. This is not to say that this perspective is the si ngle factor behind the success and failure of Tesco and Wal-Mart in South Korea. Various other factors usually intertwine to determine the success or failure of a firm in an international market. However, this perspective can be considered as the leading cause behind it.    References Conyon, S. Girma, M. Thompson, S., Wright P.   (1999). The Impact of Foreign Acquisition on Wages and Productivity in the UK; Centre for Research on Globalisation and Labour Markets, School of Economics, University of Nottingham Czinkota, M., Ronkainen, I. and   Moffett., H (2005) â€Å"International Business†, Wiley. Davey, J. (2009) Tesco enjoys a Korea break with Homeplus. The Sunday Time {online} thesundaytimes.co.uk/sto/business/article183991.ece (cited on 28th December, 2012) Euromonitor, (2009)Euromonitor International {online} euromonitor.com/ (cite on 9th August, 2012) Hill, (2003) in Lan, C. (2005) â€Å"Global Information Society:  Operating Information Systems In A Dynamic Global Business Environment†, Idea Group Inc Johnson, D. and Turner, C. (2003), â€Å"International Business: themes and issues in the modern global economy†, Routledge Kairimi and Konsynski (1991) in Lan, C. (2005) â€Å"Global Information Society:  Operating Information Systems In A Dynamic Global Business Environment†, Idea Group Inc Mckinsey Quarterly (2002) Taking Tesco global: David Reid, deputy chairman of Tesco, the United Kingdom’s largest grocer (2002), explains his international strategy. {online} mckinseyquarterly.com/Strategy/Globalization/Taking_Tesco_global_1221 (cited on 28th December, 2012) Retail 360, (2012) Korean retail therapy for foreign chains Tesco , Wal-mart and  Carrefour International Retail Consultants {online} http://retail360uk.wordpress.com/2012/05/27/korean-retail-therapy-for-foreign-chains-tesco-wal-mart-and-carrefour/ (cited on 28th December, 2012) Sang-Hun, C. (2006 a) Wal-Mart quitting South Korea {online} nytimes.com/2006/05/23/business/worldbusiness/23shop.html?_r=0 (cited on 28th December, 2012) Sang-Hun, C. (2006 b) Wal-Mart quitting South Korea {online} nytimes.com/2006/05/22/business/worldbusiness/22iht-won.html?_r=0 (cited on 28th December, 2012)

Time, value, stocks and bonds Assignment Example | Topics and Well Written Essays - 250 words

Time, value, stocks and bonds - Assignment Example This, therefore, helps the company make both long and short term decisions regarding the functioning of the company. Valuation, in this case, determines the course of the company so as to maximize its profits (Hitchner, 2011). On the other hand, Harrison & Wicks (2010) argue that company executives make the best value for its stakeholders through assessing all company documents that relate to the company’s performance. It is also the responsibility of the executives to scrutinize the market so as to review the capability of the corporation to compete with other companies (Harrison & Wicks, 2010). Executives also create the best value for its stakeholders through selecting the finest approach in the course of valuation (Harrison & Wicks, 2010). This is done after a complete understanding of the current value of the company then determine whether a market approach, an income approach or otherwise would be valid for the

Water Crisis in Middle East Essay Example | Topics and Well Written Essays - 2500 words

Water Crisis in Middle East - Essay Example Still, conflicts related to water management have not been avoided. Current paper presents the various aspects of water crisis in Middle East. Reference is made, as example, to the water management problems of Israel, Palestine, Syria and Jordan. The academic studies developed in this field reflect different perceptions for the criteria on which water management should be based. This phenomenon could be explained by the following fact: the high development of technology has affected ‘the perception of people on nature’ (Selby 2005, p.332). Therefore, the terms under which water available in a particular area is characterized as a ‘resource’ have been differentiated today, compared to the past (Selby 2005). In this context, the rights of a state on its water resources are difficult to be fully defined while the support provided by international organizations for such issues is often inadequate (Selby 2005). On the other hand, the water resources worldwide fac e a continuous shrinkage, mostly because of the pollution but also because of the increasing global population. In certain countries, such as those of Middle East, the problem is more intense. In fact, there are countries in the particular region that can be characterized as ‘water – poor countries, meaning that their water production, per capita, is below 1000 m3/yr’ (Hadadin et al. 2010, p.197). ... 2. Water crisis in Middle East 2.1 History The lack of adequate water resources is not a recent problem. In addition, there are certain regions where the specific problem is quite critical: Africa, South and East Asia and Middle East are the regions that are mostly characterized by water shortage; in certain areas of these regions water shortage can be extreme leading local populations to survival concerns (Kummu et al. 2010, p.4). The water crisis developed in the above regions is characterized by the following trend: water shortage in each of these regions has been developed in different rate. More specifically, up to 1900s water shortage was extreme in Africa while from 1960s and up today water shortage is expanded across South Asia and Middle East (Kummu et al. 2010, p.4). In other words, the appearance and the rate of development of water shortage cannot be foreseen in advance (Kummu et al. 2010). In countries of Middle East water shortage is a common problem. For example, in Jo rdan ‘the drying of streams has led to the lowering of water levels across the country’ (Hadadin et al. 2010, p.197). In the above country, water shortage first appeared about 1960s and has highly expanded since then (Hadadin et al. 2010, p.197). The two factors that have been considered as enhancing the country’s water shortage problem are the following: a) the extremely dry climate and b) the rapid economic development of the country supported the increase of population, which, in its turn, led to the increase of need for water (Hadadin et al. 2010, p.197). In a recent report, where the ability of countries to cover their needs for water through their own

English As A Second Language Program Essay Example for Free

English As A Second Language Program Essay An ESL or English as a second Language program, as the name suggests is for students or people in general who do not speak English as their first language and have an interest in learning this language for certain reasons which may range from applying to a college or university in United states or elsewhere or they would want to get accustomed to this language for the purpose of conducting business overseas, for communication with peers at work or it can be for the simple reason of communicating with people at different situations. In this article we are going to focus on ESL programs for students at a school district, comparing and contrasting on the ways they are executed and the ways they should be executed. English as a Second Language programs for students are offered to students by either scheduling classes in between their regular course classes or they can be undertaken as a separate programs by certain individuals who are accommodated in the vicinity of the university. Today, since the ratio of international students is increasing at an alarming rate in United States or Canada, offering an ESL program is more of a legal requirement for most districts so that all students are taken forward together at university or when they enroll into one in future. It is also due to this very fact that a lot of emphasis is given to ESL programs at elementary and middle school levels to prepare students to use English as a channel of communication in future. The execution and the effectiveness of these programs however, vary with different school districts depending upon trained teacher, the program and the dedication of the students themselves. The duration and intensity of an ESL program varies with the individual or university requirement and can be full time or part time, ranging from a couple of weeks to even a year. These details as mentioned do differ, so for example the ESL program offered at the Greenwich public school which aims at providing students academic and communication skills In order for them to succeed in U.S universities as effectively as possible. The elementary school offers this program for an average 2- 4 years with one to eight hours of instruction every week depending upon the grade and language individual needs of students. The school also focuses on very small groups and emphasizes individual attention to students to better understand their weaknesses and fill I the gaps. The Greenwich Public School district has been offering ESL programs for the past 28 years and has seen an influx in the number of ESL students over the years. In the year 2004-05 approximately 731 students enrolled in the program altogether from 54 countries. The elementary school curriculum includes a variety of materials according to student needs such as work books, songs, CD’s, learning of poems, class presentations etc. this program is more content based   and strong emphasis is give on the reading aspect in this program.   The program is organized around themes and aims at teaching critical thinking along with language skills to enable success in mainstream class rooms. In more specific terms this ESL program for elementary students includes Theme based English series which includes work books, posters etc. Group activities (theme based) which tend to explore literature along with songs, activities, TPR games etc. Miami Linguistics, which are designed for ESL beginners in a sequential reading manner. In Greenwich Public School, after completing the elementary school program after reaching grade 2 or grade 3, ESL students are expected to formulate questions, read outside of class, compare materials in a text and also contrast them. They are also able to express a story in their own words with proper understanding and expressions, write small paragraphs and initiate conversations. After completing the basic ESL program for elementary school, students can decide to move out of the program or advance to higher level middle school ESL program, which has its own curriculum and particular hours to be covered aimed at developing proficiency in English language. Placement in this program is based on entry tests and educational history. After looking at the details of different ESL programs offered by various institutes, if one actually compares them with reality, one can say that ESL programs put students under a lot of stress as they try to achive excellence in a second language, therefore recreational facilities should be made affordable, also the students should be encouraged to mingle with American students in order to culturally adjust with them   and pur into practice all the theories they have learnt in   class. Also one of the most important things which teachers for this program need to understand is that students enrolled in an ESL program come from very different backgrounds and cultures, therefore the same methodoligies cannot be applied across the board for teachin purposes. Students must be carefully monitered and encouraged to use their strengths to achive succcess in the course.   (Currie, 2003) If one compares the ESL program offered by greemwich Public School with other ESL programs offered, we can say that most ESL programs are similar in conducting theme based activities, which can be selected by asking students what they want to say, moulding the curiculum in children’s interest. Also at this stage most ESL programs are content based, songs are also one of the important keys to success in most ESL progrms. One of the methods which can contribute towards the improvement of an ESL program at Greenwich is that revision of matrial is very important before every new leson taught, this can be best achived with the help of songs before proceeding forward. Each lesson should be broken down into three to four parts, starting with warm up and revision of previous material, then teaching new lesson, for example new vocabulary words etc, the third part should incorporate games or activities t practice the new lesson and the ending of a esson sholud be on a happy thankful note, referably a song. This approach has been teted at ther ESL program and has proved to be very succesful. Different approaches to learning can be adressed thorough ESL games, making learning lessions fun and more effective. Depending on the students theses ESl games can vary from auditorylearnig style in which games involve more listening through peoms or repitation etc. Visual ESL styles ca be used for students who are more comfortable with videos of games involving flash cards etc and finally tactile learnig styles can be used in which â€Å"touch† are used.   (Vernon) In conclusion, if the current ESL program in a School district is evaluated in terms of the comparisons and details mentioned above,   I would say that diverse approach towards the students is missing and teachers are adopting   a homogenous method towards all students. In my opinion more effort needs to be diverted in this angle where different games and teaching styles are used after analysing the capabilities of students and more emphasis should be place on practical learning.

Symbolism and Loss of Identity in The Handmaids Tale by Margaret Atwoo

Symbolism and Loss of Identity in The Handmaid's Tale by Margaret Atwood In Margaret Atwood's The Handmaid's Tale, Offred recounts the story of her life and that of others in Gilead, but she does not do so alone. The symbolic meanings found in the dress code of the women, the names/titles of characters, the absence of the mirror, and the smell and hunger imagery aid her in telling of the repugnant conditions in the Republic of Gilead. The symbols speak with a voice of their own and in decibels louder than Offred can ever dare to use. They convey the social structure of Gileadean society and carry the theme of the individual's loss of identity. All the women in Gilead wear color-coded uniforms. The colors parade their social status and/or role in the reproductive process. The 'Aunts' who run the Rachel and Leah Re-Education Center wear brown; they are responsible for the indoctrination of the handmaids. The 'Marthas,' who wear green, are the servants. The 'Wives' wear a type of Virgin-Mary blue, which signifies their inability to bear children. The handmaids wear red robes and white peaked hats which resemble nuns' habits. Thus, they personify a religious sacrifice; they are like "temple prostitutes doomed to a kind of purdah in perpetuity" (Rigney 117). In addition, the red color of their clothing symbolizes their fertility. The color-coded uniforms that the women wear does more than just signify their functions. Along with the names/titles of characters, they symbolize the individual's loss of identity. No distinguishing mark of a woman is considered; rather, she is lumped with a group in which she is defined only by her social and reproductive function. Essentially, the color-coded uniforms strip each woman of her i... ...litical enemies. The foul and suffocating air of Gilead symbolizes the claustrophobia as well as oppression of its inhabitants (Rubenstein 109-110). In The Handmaid's Tale some symbolic tools such as dress codes and characters' names reflect the social standings of individuals in the Gilead society. These same symbols and others such as the mirror draw attention to the loss of individual identity, a theme present throughout the novel. Still others like smell or hunger convey the atmosphere&emdash;both physical and psychological&emdash;in Gilead. Whatever their different purposes may be, the symbolic devices achieve the same result: they enlighten the reader on dangerous social tendencies and compel him/her to take action in order to prevent the outcomes they depict. Works Cited Atwood, Margaret. The Handmaid's Tale. Anchor Books: New York, New York, 1985.

Corporate Governance in Family Businesses in Serbia

CORPORATE GOVERNANCE IN FAMILY BUSINESSES IN SERBIA PhD Katarina Djulic, Faculty of Economics, Finance and Administration, [email  protected] edu. rs MSc Tanja Kuzman, Faculty of Economics, Finance and Administration PhD Katarina Djulic is Assistant Professor at FEFA on subjects of Corporate Finance and Corporate Governance. She also works as Senior Consultant in KPMG Serbia. She worked as an Associate Operations Officer at the International Finance Corporation, World Bank Group, on the Corporate Governance Program. She holds a Bachelor of Law from the University of Belgrade, a Master of Law (LL.M. ) from Northwestern University, a Master in Public Policy from Harvard University JFK School of Government, and a PhD degree from the University of Belgrade Faculty of Economics. Prior to joining IFC, Ms Djulic worked as a legal adviser to firms in Belgrade and New York and afterwards at the Ministry of Finance, first as an adviser to the Minister and then as an Assistant Minister in cha rge of the Financial System Division. She also worked for European Bank for Reconstruction and Development in London in Office of General Council.PhD Djulic was a member of Board of Directors in DDOR, Novi Sad, a member of Supervisory Board in Jubanka, Beograd and Chairwoman of Supervisory Board in Central Securities Depositary and Clearing House, Republic of Serbia. MSc Tanja Kuzman is Teaching Assistant at Faculty of Economics, Finance and Administration. She teaches Corporate Governance and Corporate Finance. She is also Advisor for Corporate Governance and Corporate Finance in Chamber of Commerce and Industry of Serbia, Executive Director of the Institute at Faculty of Economics, Finance and Administration and a Member of the Board of Directors of Alumni FEFA.She holds University of Sheffield Masters Degree with Distinction in Banking and Finance, where she was proclaimed as one of the best students, and a BA from the Faculty of Economics, Finance and Administration. She was awa rded with two HEAD’s list certificates for outstanding academic achievement of the University of Sheffield and in February 2011 she started her PhD studies in Finance. From September 2009 to December 2011 she worked as Coordinator of the National Competitiveness Council of the Republic of Serbia and Junior Advisor for Economy and Finance in the Office of the Deputy Prime Minister for European Integration.In July 2011 she has spent a month working for European Commission, Directorate General for Economic and Financial Affairs in Brussels, on the issues related to the financial stability and financial institutions of the European Union. She has finished training on European Negotiations organized by Centre des etudes europeennes de l’ENA from Strasbourg. Abstract Family businesses constitute the world’s oldest and most dominant form of business organizations. In many countries, including Serbia, family businesses play the key role in the economy growth and workfor ce employment.Yet many of them fail to be sustainable in the long-term often due to some specific governance challenges (family business succession, professionalization of the management etc. ). In Serbia, it has recently been recognized that family businesses need more institutional support in the area of corporate governance. The corporate governance scorecard (questionnaire on key aspects of corporate governance) for family businesses in Serbia was developed as part of cooperation between the Chamber of Commerce and Industry and the IFC.This paper presents the results of the scorecard used in assessing corporate governance in seven family businesses in Serbia. Analyses of the results represent a unique case study that provides an overview of the quality of corporate governance in family-owned companies in Serbia. It shows that the state of corporate governance in family businesses on the Serbian market has a lot of distance to go to reach best practice. All companies recognize th e fundamental importance of family governance to their business. However, they lack knowledge and guidance on how to systematically deal with governance challenges.Key words: family businesses, corporate governance, scorecard, board of directors, transparency, controlling environment. Paper classification: Case study. INTRODUCTION Family businesses are one of the oldest and most common forms of business organizations, drivers of economic growth and economic development, representing a large percentage of the total number of companies in the world. Family businesses in most countries in the world account for over 70% of the total number of businesses and have very significant impact on economic growth and employment. For example, in the U.S. family businesses create 59% of new jobs, while their share in the GNP is 50%, and they represent nearly 90% of all businesses (Kuratko and Hodgetts, 2004). Family businesses in Spain and Latin America produce, respectively, 75% and 60% of the GD P (Network for Family Enterprise, 2008). Poutziouris (2000) also notes that in addition to economic growth and employment, family businesses build entrepreneurial spirit and enable knowledge transfer between generations as well as development of a sense of loyalty, long-term commitment and corporate independence.Therefore it is considered that the creation, growth and sustainability of family businesses is crucial for the development of national economy. According to data of the KPMG Canadian Centre for family business in next 20 years 15 trillion dollars of wealth in the world will be transferred from one generation to another. The same source also points out that 70% of family businesses do not survive the transition to the second generation, 90% do not survive the transition to the third generation, and 95% of family businesses do not plan succession.Other sources confirm these findings indicating that only 5-15% of the family businesses continue to exist in the third generation of the successors of the founder (Davis and Harveston, 1998; Neubauer and Lank, 1998; Poutziouris, 2000, Ibrahim and Dumas, 2001; Grassi and Giarmarco, 2012 ). The reasons for the unsustainability of family businesses are sometimes exactly the same as the reasons for all other businesses. Management processes, informality and lack of discipline are the most common weaknesses of family businesses (IFC, 2008). In the process of managing the family usiness, unlike other businesses, feelings and family problems can be involved complicating in that way the management process. On the other hand, the lack of procedures and informality in the conduct of business, can lead to inefficiencies and conflicts, while lack of planning in terms of succession, property management and absence of policies for the employment of family members leads in most cases to the failure of the family business. All the above mentioned reasons for the failures of family businesses stem from various weaknesses in Co rporate Governance (hereinafter: CG) practices employed in family businesses.Therefore, several researchers have investigated the relationship between the level of CG and family businesses as to determine whether these two variables are positively or negatively correlated. In their study Cheung et al (2010) have found that quality of CG appears very significant for family businesses. They have shown that good CG practices in family businesses are linked to higher stock returns and lower unsystematic risks (Cheung et al, 2010). Results of their study for family businesses are consistent with findings of Renders et al (2010) who found a positive correlation between CG practices and company performance.Furthermore, Renders et al (2010) have proven that higher CG ratings lead towards improved operating performance and higher market values of companies. These positive effects of CG ratings on market values of companies have also been recorded in emerging and transition countries (Gary an d Gonzales, 2008; Khanchel El Mehdi, 2007; Black et al, 2006; Durnev and Kim, 2005; Black, 2001). Notwithstanding, Cheung et al (2010) and Geksen and Oktem (2009) find that family businesses have poor CG practices.Cheung et al (2010) explain that family businesses, which in most cases have concentrated ownership structure, are associated with low level of CG. Furthermore, their finding indicates a concerning fact that family businesses improve their CG practices slower than their peers (Cheung et al, 2010). Geksen and Oktem (2009) also find that practices which prevail in family businesses strongly contradict the recommendations of the CG codes of best practices. When it comes to Serbia the picture is more or less the same as in all developing countries.We have large number of family businesses which went from being an entrepreneurial project to holding structures, now with several hundreds of employees. Family businesses in Serbia perceive CG as something abstract, fleeting, someth ing that is hard to define and measure, and hence there is the conviction that CG does not bring concrete, tangible and quick benefits. Better business results which follow concerted CG efforts are nearly never exclusively linked to improved CG mechanisms as from stances of family businesses in Serbia.At best, they are ready to admit that CG can contribute to moderately improved business results. Despite this perception, the goal of the authors was to investigate the level of CG in family businesses in Serbia in order to be able to recognize the main weakness/problems and provide recommendations which could solve them. This paper presents the findings of analysis of CG practice in 8 Serbian family businesses that responded to the invitation for assessing CG practice using the scorecard methodology.The scorecard was developed by the Chamber of Commerce and Industry of Serbia (CCIS) as part of the Program for Improving CG, with the support of the IFC and with participation of one of t he co-authors of this paper. The scorecard consists of questions that are systematically organized into CG areas that reflect the basic principles of good corporate governance. Based on the scorecard the CG rating in Serbia can be created and even though it is quite hard to produce a quantitative evaluation of CG the scorecard can still be a valid indicator of good or bad CG practices. The paper is divided in three additional sections.The introduction is followed by a presentation of the methodology used in assessing corporate governance practice. In second part, results of the assessment of CG in family businesses in Serbia are presented. In conclusion, closing considerations followed by recommendations for further CG improvements in family businesses in Serbia are noted. METHODOLOGY The CG scorecard for family businesses in Serbia, developed as part of cooperation between the Chamber of Commerce and Industry of Serbia and IFC, is a questionnaire whose questions are systematically presented under headings that reflect the basic principles of good CG.Responses to questions generate a score that is expressed as a percentage and indicates what percentage of best practice was applied by a given family business in a particular CG area. The main goal of the scorecard approach is to enable companies to easily assess their own CG practices, to allow investors to determine their preference regarding the level of CG which companies need to have in order to be considered as possible investment and to enable comparison across countries and industries (Bassen, 2004; Strenger, 2004).The scorecard is divided into the following five areas of corporate governance: 1) commitment to good CG practices; 2) board of directors; 3) supervision, control and independent audit operations; 4) transparency and disclosure; 5) owners; Each of these areas has a relative importance expressed in percentages in relation to the total of 100%. In view of the fact that each area is significant in its own way and has a different contribution to governance, their relative importance differs accordingly.A relatively greater weight is carried by two areas for which experience shows that they represent vital points of good CG in a company –company commitment to CG principles and supervision, control and independent audit operations. As a result these two areas are weighted with 25%, board of directors and owners are weighted with 20%, while transparency and disclosure is weighted with 10% in the final score. In each of the specified areas there is up to eight questions that reflect recommended practice for realizing principles to which a particular area is dedicated.Answers to those questions are graded with marks from 1 to 10, where each mark is related to certain percentage of the mark for that specific area. A total result of around 50% means that a company has implemented CG practices as required by relevant legislation. In order to achieve a score of over 50%, a comp any needs to go beyond the requirements of statutory regulations. Finally, a particular quality of the scorecard is that it takes account not just of the overall score, but also of the scores of individual CG areas, which gives a test company a clear indication of the areas in which its CG practices lag behind the company average.The CCIS and the IFC, with participation of both authors in the process, have conducted an assessment of CG practices in 8 family businesses in Serbia. Family businesses were guaranteed confidentiality in respect of scoring and results, with a view to ensuring objectivity and realistic assessment of current status. ASSESSMENT RESULTS Commitment to good CG practices As first area in the scorecard it consists of questions which provide a general sense of the level of CG practices employed by the family business.The scorecard for this area seek to establish: (i) the existence of a CG code (whether developed in-house or whether an existing code has been adopted ), (ii) to what extent the company’s internal corporate documents reflect the CG principles, (iii) whether implementation of CG principles is discussed in company (if yes, how often and on which level), and (iv) do principles of CG and corporate social responsibility take into account the interests of various stakeholders, thus preventing conflicts.The figure below summarizes the scores of family businesses for this area (companies are designated by letters to ensure confidentiality of results). [pic] Chart 1: Commitment to good CG practices. CG Codes are not present in six out of eight family businesses, implying that those companies have not developed their own codes and have not adopted the existing codes of CCIS or Belgrade Stock Exchange. Despite that fact, owners and higher management have shown a great level of consciousness regarding the importance of CG and further improvements they need to make in CG area.When it comes to conversations about CG and succession proces s in most cases owners and family members talk about those issues from time to time and except family members involved in family business management others lack the interest or they are rather passive in the whole process. Internal documents exist in all companies but they usually satisfy the minimum requirements prescribed by law and do not encompass the CG best practices and principles. Most of internal acts exist formally due to legal requirement but they are not implemented in conduct of family business.Furthermore, owners and higher management have clear strategy for future development of family business, but that strategy in not formalized in the form of document. Due to that fact family members adhere to goals mentioned and set through formal or informal conversations between family members and higher management. Although poorly implemented in practice, family businesses show a clear vision of how their business should be organized and in which direction should be developed. All family businesses recognize the importance of corporate social responsibility.Therefore they pay more attention to local communities in which they undertake their operations but their corporate social responsibility in most cases boils down just to the philanthropic activities. In conclusion we can state that in family businesses in Serbia there is the absence of CG codes, that business strategies are not formalized in the form of documents, that internal documents fulfill legally determined norms but do not encompass the CG best practices and principles, that owners and higher management attach a high level of importance to CG and that family businesses in Serbia undertake large number of philanthropic activities.Board of directors In assessing the functioning of the board of directors questions in this section try to give a snapshot of practices regarding the management of family businesses and the role of the owner in them. In this CG area family businesses are asked whether there is a clear demarcation between operational and strategic/supervisory level in the company, is there a ormal board of directors or some other body which is responsible for the formulation of the strategy and supervision of the management, if there is a board of directors is there an internal act on the functioning of the board which defines needed competencies of the members of the board of directors and their responsibilities, is the function of the general manager and president of the board of directors clearly separated, how compensation of the members of the board is determined, is there a process of evaluation of effectiveness and quality of the work carried out by the board, whether the board establishes committees which could contribute to the quality of their work, is there the annual plan of board of directors meetings and whether members of the board of directors get the materials for the meeting in advance. [pic] Chart 2: Board of directors. In all of the tested comp anies there is the absence of Board of directors. Members of the families often have management functions and are directly involved in the operational management of the business.On the other hand, they are usually the ones determining the strategic path of future development of the family business implying in that way that there is no clear distinction between operational and strategic/supervisory level. In most cases owners convenes meetings when he assesses the need for doing so and only in two family businesses there is clear and established dynamics of these meetings. Only in one of the tested companies owner of the family business is not as the same time a director and there is no overlapping of responsibilities and in just two companies owner sees themselves as president of the board of directors in future. Three of the tested companies have family meetings during which they discuss performance of the family business, family issues which can influence the business and its futu re development.When it comes to the professional management, in only two of the companies tested, managing of the company is undertaken by family members and externally hired professionals which proves the low level of consciousness and the need for professionalization of the management. In most of the family businesses there is no established and formalized reward system. Absence of reward system is also a potential problem, because it reduces the possibility of objective and adequately rewarding or punishing of employees. The commonly established practice in tested companies shows that owners usually determine the rewards, its level and they make assessment of the effectiveness of the management. Even though the test has shown that owners of family businesses have aversion for professionalization of the management they feel reluctant in hiring external experts and consultants from time to time.Based on the results of the scorecard we can conclude that in family businesses there is no formally established board of directors and that there is no clear distinction between operational and strategic/supervisory roles. Supervision, control and independent audit operations In this area the questions concern internal controls, internal audit function, external audit and reporting mechanisms in the company. Seeking to determine whether the company has any kind of internal supervision system in place, the scorecard focuses on functions rather than on formal bodies. It tries to gauge comprehensiveness, sophistication and effectiveness of the existing system. The area has a 25% weight in the final grade.Two groups of questions focus on the system of internal controls – Has the company formalized its procedures? If yes, who is in charge of development of such a system? Have the owners formally discussed risks and have they analyzed the existing procedures and the company’s modus operandi in light of the identified risks? How does the company ensure that it is compliant with relevant laws and regulations? The next two groups of questions relate to the internal audit function – Does it exist in any form? Is it formalized? What kind of resources does it have at its disposal? Is it independent from the management? The third group of questions relates to the external audit and tries to capture the company’s experience with external auditors in the ast couple of years – Does the company have an external auditor? Who is the external auditor of the company? Has the external auditor ever issued a qualified opinion? The last question relates to the supervisory level of the company (the board if it exists or the owner(s)) and seeks to define to what extent and in which way the management communicates with the company’s supervisory bodies. [pic] Graph 3: Supervision, control and independent audit operations. In the tested companies, internal controls are either altogether absent or they have been introduced in response to customers’ or regulatory demands without any prior analysis of internal risks in the company.The tested companies that operate in regulated industries (food production, medical supplies, transportation) and that are export-oriented received relatively higher scores since there is a large number of international industrial standards in these industries/markets that allow companies to adopt these standards routinely rather than to develop independently in-house internal control systems. Although these standards represent a type of internal control system, an internal control system should not be reduced to their implementation. In order for an internal control system to fulfill its purpose, it must be implemented in an adequate control environment and be based on a company-specific and comprehensive risk analysis and assessment. None of the tested companies has any form of internal audit function and the entire supervision is performed by the owner personally and, sometimes , the employed members of the family.This monitoring style lacks a structured approach and a supporting system. Supervision is performed either continuously, which is extremely cumbersome keeping in mind operational responsibilities of the owner, or on an ad hoc basis. Often, the owner does not have sufficient technical knowledge to supervise all the business processes in the company and as a consequence he focuses on the business areas where he feels comfortable resulting in considerable supervisory â€Å"blind spots†. Supervision further suffers as the business expands since at certain point in time, the owner’s physical capacity becomes limitation for an effective supervision. Finally, since the owner often operationally anages the company, he effectively supervises himself which is far from good practice. The external audit function seems to be understood inadequately. The companies still perceive external audit primarily as an expense so the function is introduced only if it is legally required. It often happens that the owner does not have any direct communication with the external auditor. The contact person for the external auditor is, in the majority of cases, the head of accounting (whose work is verified by the auditor). Where the function exists, the auditors, as a rule, are small, local businesses that issue unqualified opinions. Their mandates are automatically extended for the period of 3 – 4 years.Transparency and disclosure Although a great majority of family businesses in Serbia are small and medium non–listed companies, some of them are rather big and require a solid organizational structure, some have extensive international business operations, and others seek significant external funding (from banks primarily but also from individual investors and private equity funds). Due to these considerations, the scorecard has a part that relates to transparency and disclosure. However, since the scorecard primarily focus es on non-listed companies, this CG area has relatively smaller significance and it contributes only 10% to the final grade.In this domain the scorecard seeks to determine whether the company has a reporting policy (formalized or not), whether it uses its website for publishing relevant information and, finally, whether all relevant information is also released in English (which allows a company to reach a far broader investor and/or client base). After this, the scorecard focuses on specific types of information which practice indicates to be of greatest interest to stakeholders. Thus it seeks to determine whether the company releases in timely manner: (i) its financial statements, (ii) its management report, (iii) materially significant information, (iv) biographical information of all members of management i. e. family members that are involved in business, and (v) related party transactions. [pic] Graph 4: Transparency and disclosure.The poor results presented in chart 4 are not surprising since, as already mentioned, the tested companies are mostly small and medium family businesses. In addition, there are no legal requirements for non-listed businesses regarding transparent business operations. Thus, the research confirms once again the assumption that companies in Serbia, as a rule, tend to fulfill only the legally prescribed minimum. Some companies have decently informative websites but they contain only marketing information relevant for customers. The companies that export have also websites in foreign languages. No single company in the tested group has a structured approach to information disclosure. Some of the tested companies do have monthly or quarterly bulletins that are distributed to their customers.Financial statements, as a rule, are not public and if some financial information is available on the company website, it is out of date. Only one company in the tested sample regularly prepares an annual report because it participates in interna tional tenders and this exercise helps it present its business efficiently to a more sophisticated business community. A majority of the interviewed owners stated that they would like to keep their business within the family and that they did not plan an IPO. Finally, most of the tested businesses engage in related party transactions but, as expected, these transactions are not regulated neither are they transparent.The research indicates that Serbian companies are still not adequately motivated to publish information and still continue to misunderstand the importance of transparency in business. Owners The last CG area of the scorecard deals with owners. This part of the scorecard focuses on key issues of family governance and has a 20% weight in the final grade. The scorecard tries to determine if there is any formal document which spells out family business guiding principles such as â€Å"family protocol†, â€Å"family business rules† etc. Formally establishing the se rules could result in the most important piece of work achieved by the family business in managing its family component and the process of succession. The econd group of questions tries to determine quality, effectiveness and timing of communication between family members that are actively involved in the business ant those members that pursue other interests and thus are not familiar with the day-to-day state of the family business. The purpose of this communication is to provide a forum that allows all the family to learn more about the family business and to provide them with an opportunity to express their views on family issues that impact the business as well as business issues that impact the family. The third group of questions enquires about the family grooming plan. The grooming plan outlines the most important business skills required by successors to effectively manage the family business at the transition date. The scorecard tries to determine how the family prepares the next generation for management succession and if it has a formalized grooming plan.The fourth group of questions asks if the family has developed an employment policy for family members. It’s understandable that the senior generation would like to have all their children involved in the family business. However, allowing children a safe employment haven just because they have no better alternative, can cause major problems. Thus, having criteria that outline what is required and expected from the family members who wish to be employed in the family business is crucial. The fifth and sixth groups of questions try to determine if the family members have any formal form of communication which would allow them to manage the key family component separately from managing business operations.The purpose of this forum is to lay out agreed ground rules and objectives for the firm and to discuss major issues (like succession) while minimizing the threat that conflicts in the famil y could jeopardize the business. [pic] Graph 5: Owners. The tested companies scored the highest in this CG area. The primary reason for such a good result is great commitment of the first generation to prepare the second generation for the future transition. Although only one of the interviewed owners is familiar with basic CG mechanisms that family businesses have at disposal for managing ownership and management succession, all of them expressed great readiness to learn and to apply these mechanisms in their businesses.In fact, all the interviewed owners have been trying to find ways to manage these challenges and all of them expressed a great concern regarding succession process in their businesses. Now, there might be some research bias since the tested businesses volunteered to engage in the CG testing and all were attending a workshop on CG organized by CCIS. It is probably true that a random sample would yield lower scores in this CG area as it would in Commitment to good CG practices. Still, we believe that a succession threat is looming over the first generation of Serbian entrepreneurs and that all of them are experiencing problems due to a lack of the entrepreneurial tradition in Serbia and a lack of CG knowledge.None of the businesses had any form of family protocol neither did they have any formal for gathering family members involved in business to discuss family issues that affect the business and to prevent conflicts. Further none of the businesses had a formal channel of communication between the family members involved in business and those that are not but they all claim that communication is regular and intensive. The grooming plan is, as a rule, somehow implemented in practice but it is not formal neither does it lay out ground rules for the second generation aspiring to join the family business. Finally, no formal family employment policy exists in any firm but there are certain guiding principals that are clear to both family and non-fam ily employees alike in almost all businesses.We can conclude that the research has indicated (i) a great need for raising awareness among Serbian first generation entrepreneurs on CG issues and mechanisms; (ii) an avoidance of the first generation to formalize the ground rules assuming that this formalization would lead to family conflicts and that it might destabilize both the family and the business; (iii) a fear that the upcoming ownership and management succession will not be performed smoothly and successfully; and (iv) an honest commitment of the family businesses to implement good CG mechanisms if it would help them overcome governance obstacles. CONCLUSION Serbia has a relatively short entrepreneurial history. Serious attempts to establish a family business could be linked primarily to the post-Milosevic period, i. e. after 2000. This research is providing a scan showing where the first generations of Serbian entrepreneurs, i. e. the first generation of owners of Serbian fam ily businesses is today from the governance point of view and what kind of family governance challenges they face. As it was already mentioned, there is a certain bias which should be taken into account when interpreting the scores of the tested businesses.All of the tested businesses attended a workshop organized by CCIS for family businesses, they were present when the scorecard was launched and they applied to participate in a pilot CG testing voluntarily. This indicates that these businesses will most likely show greater commitment to CG and a deeper understanding of the family governance issues relatively to an average family-owned firm in Serbia. This also explains relatively higher scores in the CG areas Commitment to good CG practices and Owners. Still, we believe that the results obtained from this pilot testing are a good approximation of general state of affairs in Serbian family-owned businesses.Specifically, most of the family businesses in Serbia will sooner rather tha n later face serious succession challenges. Most of them still avoid putting these issues formally on the agenda, but there are triggers that will or have already forced them to do so. These triggers might be results of some positive or some negative circumstances. â€Å"Positive† triggers include: age and retirement plans of the first generation owners and/or CEO; a boom in the economy or the firm’s industrial sector which could lead to a rapid expansion of business; an external take-over initiative coming from a strategic partner; a need for a significant external funding to finance the rapidly growing business etc.On the other hand, typical â€Å"negative† triggers would be: health problems and physical and/or physiological exhaustion of the first generation owner/CEO; marriage problems of the first generation owners or their children; financial problems; a significant loss of the market share; conflicts among the owners and/or their heirs etc. The testing co nfirmed that the interviewed owners had serious doubts that the management and ownership succession could occur smoothly i. e. without seriously destabilizing the family business. What are obstacles that prevent the Serbian family owners from tackling the succession challenges more successfully? According to the testing and the interviews, there are three major challenges that need to be resolved. First, there is a substantial lack of CG knowledge among owners of family businesses in Serbia.CG is usually perceived as an expensive exercise created primarily for listed companies. Most of the interviewed owners were not aware that a significant body of research in CG refers to family businesses only. Second, tackling succession presses some emotional and financial concerns of the first generation. Often, the founder of the firm, who belongs to the first generation, has invested emotionally a lot in the family firm. He feels that the family firm is a great part of his life and his legac y for the generations to come. From the financial point of view, the greatest assets of the founder(s) have, as a rule, been invested in the family business and they are quite illiquid.Lacking any reasonable diversification, the founder is exposed to a serious financial risk. Without a clear exit strategy and a meaningful succession plan, the founder creates a void in the governance and ownership systems which present a great burden for the heirs. The results have also shown that most of the interviewed owners lack time, capacity and knowledge to successfully resolve these issues. Relatively higher scores in the CG area that relates to Supervision and control mechanisms could be explained by an obvious need to professionalize the firm and to decentralize the management. Most of the businesses are economically healthy and have had a rapid expansion of business that outgrew its respective organizational structure.The owners show the greatest readiness to implement practical supervisio n CG mechanisms since they expect that these mechanisms would increase effectiveness of their control over the business and the â€Å"outside† managers and thus reduce a burden which they barely handle. However, we have to emphasize that better supervision, although of a great value, cannot substitute for unresolved succession issues. Poor management and ownership succession would almost certainly lead to a collapse of the family business in the next generation despite good internal controls, internal audit function or any other form of internal and/or external supervision. Low scores in the CG area that relates to Board indicate that most of the businesses have not separated the supervisory and strategic level on one hand and the operational level on the other.This leads to a common situation that even in rather big family-owned businesses in Serbia that employ more than 1000 employees, we still have so-called one-man show and the key man risk. This risk scatters away invest ors and leaves these businesses without substantial external funding. It is rather common that many rapidly developing Serbian businesses finance their investments form short-term lending since banks refuse to carry governance risks over an extended period of time. This lack of good professionals at the helm of their companies, most of the interviewed owners explain with a lack of qualified managers to whom they could entrust the family business.Finally, the lowest score in transparency area is somewhat expected. As already mentioned, these businesses are not listed and there are no legal rules that would insist on greater transparency for bigger, closed companies. While this is understandable, it also indicates that the Serbian businesses do not see any value in transparency per se which begs further investigation. Our assumption is that in very non-transparent, public and private sectors in Serbia too much of transparency is perceived as an unnecessary exposure to both the governm ent tax authorities and competitors. The businesses are convinced that transparency would only lead to vulnerability without bringing any other value-added.Scorecard results imply that in family businesses in Serbia CG is on a low level, that there is a huge space for improvements and even quick wins which can significantly contribute to the business operational functioning as well as contribute to its overall performance. 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