Business Analysis and Valuation Report

BUSINESS ANALYSIS AND VALUATION REPORT Scheduled Class: Monday 2:00pm to 5:00pm 1. Introduction Harvey Norman is now a public company that is listed on the stock exchange, whose principal activities primarily consist of an integrated franchising, retail and property entity. It is one of Australia’s most successful retail groups, operating more than 150 franchised department stores, which focus on selling computers, home entertainment equipment and home appliances. It offers Australian consumers an extensive product range, cutting edge technology and market leadership in most product categories. In this report, an in depth industry and company analysis will be provided in order to gain an understanding of the qualitative aspects of Harvey Norman’s operation. 2. Industry Analysis 2. 1 Main Products Harvey Norman belongs to the retailing industry. The main products offered by Harvey Norman consist of: electrical, computer, furniture, entertainment and bedding goods. However, being distinctive from its competitors, Harvey Norman is a franchise and the main brand owned by Harvey Norman Holdings Limited. 2. 2 Future Prospects In the next year, the competition in Australian retailing industry is likely to remain strong. Benefited from the Government’s stimulus package during the GFC, Australians’ ability to consume has recovered. Therefore, this boost in consumption has caused a pressure of inflation. In order to mitigate the negative effect of inflation, there has been frequent increase of interest rate by the Reserve Bank. Therefore, with interest rate rising, consumption in retailing goods is likely to reduce in the short term. In the next five years, the Australian Dollar is going to remain strong. As a result, imported retailing goods are likely to be cheaper for Australian consumers. Retailers in Australia are likely to continue their expansion to the overseas market. It is because retailers demand further improvements to the operational performance. In the long run, retailers are likely to increase their share in key growth markets combined with the brand strength of their own company, in order to ensure future growth. These speculations are based on principles of economics, as well as assessments of the changes in Australian’s consumption ability. 2. 3 Market Competition Review Harvey Norman competes in the five main retailing industries including: electrical, computer, furniture, entertainment and bedding goods. Each industry has its own main player. The main players in the electrical and computer goods industry include: Clive Peeters, Dick Smiths and Bing Lee. 1) Clive Peeters’s retail coverage is the most similar to Harvey Norman in Australia. Their main products include: Audio Visual, Kitchen appliances and white goods. Clive Peeters’ stores carry more than 140 brands and over 20,000 individual models. This company can be seen as a major competitor to Harvey Norman because of their similarity in size. 2) Bing Lee specializes in consumer electronics, computer and telecommunication goods. Unlike Harvey Norman, Bing Lee is a privately-held electrical retail business in New South Wales with 41 stores and a turnover of about $490 million. Although it is the largest privately-held business in this industry, Bing Lee remains as a relatively small size retailer comparing to Harvey Norman. 3) Dick Smith (formerly Dick Smith Electronics) is an international electronics retailer. It is a major competitor to Harvey Norman. Among all retailing industries where Harvey Norman competes in, the company remains dominant in the key product areas of audio, computers and visual products such as notebooks and flat panel televisions. The company holds the number one position in the markets of white goods and technology products. 3Company Analysis 3. 1 Company Choice As one of Australia’s largest and most successful retailers, Harvey Norman has business interests in various areas including electrical, computer, furniture, entertainment and bedding goods. With more than 160 stores located in Australia, New Zealand, Slovenia, Ireland, Malaysia and Singapore, Harvey Norman is a conglomerate/franchise, which provides millions of consumers with products ranging from notebook computers to sofas to beddings. To run a successful business operation of Harvey Norman’s magnitude requires not only operational excellence, but also strategic insight and vision on macro economic conditions, market trends forecasts and also a distinctive understanding and implementation of the company’s business strength. The company’s strong business operations across multiple product areas/industries make Harvey Norman an interest case study to analyze – both from an operations point of view as well as strategic. Furthermore, given the challenging market conditions in 2008 and 2009, it would be interesting to analyze how Harvey Norman responded to the economic downturn. The company observed â€Å"a significant improvement in net profit from underlying business operations during the last 6 months of FY2009†, according to Harvey Norman’s 2009 Annual Report. It would be insightful to see what strategies and tactics were used by Harvey Norman to achieve this result, especially in the integrated, franchise and property system sectors since these were reported by the company to be â€Å"resilient in achieving strong results and growing market share in all key product categories. † 3. 2 Company History DateSignificant Event(s) 961Gerry Harvey & Ian Norman established the Norman Ross chain of stores 1979Norman Ross became one of the largest appliance retail chains; controlled 42 stores with sales exceeding AUD240 million 1982Norman Ross was sold and a single Harvey Norman store was started in Auburn, Sydney. 1987Harvey Norman Holdings Limited was listed on the Australian stock market Early 1990sHarvey Norman adopted the superstore forma t and entered the computer and furniture markets 1998Joyce Mayne acquisition 2000The chain grew to 100 stores 3. 3 Competitive Advantage Harvey Norman’s competitive advantage can be classified into â€Å"hardware† and â€Å"software† perspectives with the â€Å"hardware† component incorporating corporate strategy and business structure while the â€Å"software† component incorporating leadership skills and management style: †¢Corporate Strategy: Harvey Norman embraces and successfully maximizes benefits bought forth by the economies of scale (both on the purchasing as well as market side); achieves seamless integration of its retail, franchise and property systems; has excellent brand awareness, which translates into brand loyalty from customers. Business structure: Harvey Norman has successfully setup, adopted and utilized the franchising operation which enables it to generate revenue from multiple sources; it has a diversified product base which can help mitigate risks and capture a wider customer base. †¢Leadership skills: Harvey Norman has the ability to identify and ac quire property associated with HN’s development of retail stores in growth areas, which is a crucial element of the integrated retail and property strategy. Management style: Leadership is able to respond to market change and demand effectively – both in terms of products and operations. For example, Harvey Norman has expanded its product offerings and operations into various countries in response to increased demand (from both local and foreign markets). 3. 4 SWOT Analysis Strengths †¢Franchising Operation †¢Improved technology and supply chain management systems. (Global Merchandise Management System) †¢Economies of scale both in purchasing and marketing. Effective integrated retail, franchise and property system and low gearing supports to capitalize competitors’ failure. Weaknesses †¢Issue of low profit margin putting continuous pressure †¢Closure of its export and distribution businesses in Singapore and Malaysia has negatively impa cted on the profitability in Asia market. †¢Own only little market shares in the gaming industry. Opportunities †¢The strong performance of the franchising operating segment †¢Expand franchising operations in potential geographical areas and extending product offerings using stable financial capability. Growing market shares in many overseas market such as Malaysia, New Zealand, Slovenia and Ireland †¢OFIS brand is expanding in Australian market as a discount retailer of stationery Threats †¢High inflation, capital market liquidity crisis and decreased demand because of Global financial crisis are affecting the business both locally and internationally. †¢Fall in price on electrical items due to rise of Australian dollar are directly lowering profit margin and increasing expenses. 3. 5 Future Prospects for Harvey Norman Next Year There has been 10 new franchised complexes opened in Australia and a total of 8 leased stores were closed in 2009. A number of stores were also opened in offshore markets including the new OFIS brand, which implies that Harvey Norman is continuously growing its operations and expanding geographically. Net profit from underlying business operations was down by 15. 2% as a result of many write down of assets, revaluation of assets and expenses taken place in the first half year of 2009. However, franchise sales revenue increased by 4%. With the continuous expansion and write down done in the financial year ended in June 20009, it is obvious that sales revenue and net profit will improve in the next year. Next Five Years The company’s strong financial position and low gearing allow it to invest to expand its operations and adds value to its brands and businesses across its value chain in the next five years. As shown in the financial highlight 2009, the net profit after tax had declined from 358. 45 million to 214. 35 million as a result of the increased amount of expenses and trading loss of some segments. However, the gross profit has increased, concluding that business is improving and growing. Moreover, the consolidated equity has increased by $1. 12 billion, which dropped the debt/equity from 26. 61% to 26. 56%. It means the company is trying to strengthen their equity position for the next five years as well as the long run. In the Long Run In the long run, Harvey Norman has many opportunities to continuously grow in the future. It has an effective integrated retail, franchise and property system that allows the company to make substantial profit from its owned operations, franchised operations and leased property. Harvey Norman and many of its brands have become the market leaders in its industry and it will continuously extend its product offering across all the brands to maintain its market position. It is confident that Harvey Norman will continuously perform well in the long run. 3. 6 Recent performance Table 1-3 represents the recent 3 years’ performance of HVN: During last three years, there is a slightly incensement in its revenues, the revenue (exclude interest) raised from 2008 to 2009 by 2. 4% as well as from 2007 to 2008 grew by 6. 6%. Table1 HVN Revenues, Expenses and Cash Flows FY2009 ($m) Revenues (Exclude Int) Expenses (Exclude D&A)EBITDAExpenses (D&A)EBITNet Cash Flows $2436. 0$1963. 28$472. 7$91. 04$381. 7$82. 71 Table1 HVN Revenues, Expenses and Cash Flows FY2008 ($m) Revenues (Exclude Int)Expenses (Exclude D&A)EBITDAExpenses (D&A)EBITNet Cash Flows $2378. 4$1873. 24$505. 2$84. 39$420. 8$-127. 18 Table1 HVN Revenues, Expenses and Cash Flows FY2007 ($m) Revenues (Exclude Int)Expenses (Exclude D&A)EBITDAExpenses (D&A)EBITNet Cash Flows $2229. 8$1819. 82$410. 0$74. 88$335. 1$50. 58 Sales revenue for the Harvey Norman consolidated group consists of sales made by New Zealand, Ireland, Northern Ireland, Slovenia and the controlling interest held in Pertama Holdings Limited in Singapore. Consolidated sales revenue also includes Harvey Norman’s controlling interest in several retail partnerships and the company-run OFIS stores in Australia Consolidated sales revenue for the year ended 30 June 2009 was $1. 44billion compared to $1. 43billion for the year ended 30 June 2008, an increase of 0. 83%, despite the sales revenue decreased in some regions like public of Ireland and New Zealand. The reduction in sales in these regions was due to extremely challenging retail’s trading conditions and lack of consumer confidence. However, for the purpose of financial report, all the foreign currency is translated in to Australia dollar. Since the depreciation in Australia dollar in the last year, sales revenue decreased in some local markets might show an increase in the financial report in Australia dollar. EBIT reported a loss of $39. 1m in 2009 compared with 2008 due to an increase in depreciation and amortization and operating expenses, comparing with 2007, there is an increase of $95. m in 2008. 3. 7 Accounting Analysis Manager’s Incentive of Earning Manipulation There are empirical evidence linking the character of executive compensation with earnings manipulation and fraud. With regard to earnings manipulation, Keith J. (2006) finds that firms with relatively high amount of equity incentives to CEOs, in the forms of unrestricted stock and immediately exerci sable options, are more likely to engage in earnings management by reporting small earnings increase, and also by reporting long strings of increasing earnings. In this case, Harvey Norman’s executive remuneration packages involve a balance between fixed and performance cash incentives (PCI) which includes short term such as base salary and long-term payments such as superannuation. Equity based remuneration can also potentially induce manages to manage earnings, by understating earnings prior to option grants to lower the firm’s current share price and exercising option later on. Evidence of Earning Manipulation When managers have accounting flexibility, they can use it either to communicate their firm’s economic situation or to hide true performance. Possible distortion Detail & Explanation Accelerated recognition of revenuesManagers typically have best information on the revenue recognition to decide whether or when the cash collection is reasonably likely. And they may have incentives to accelerate the recognition of revenues. They can adopt new accounting or use managers’ discretion to alter revenue recognition of, for instance, franchise fees or rent. Underestimated reservesFrom Note 5, provision for doubtful debt has decreased from 4. 7 m to 4. 3 m; from Note 5(a) the aging analysis of trade debtors, number has increased from 952 k to 1,038 k. Due to the global financial global crisis and its influence to the debtors and consumers, it is not convincingly reasonable to reduce provision for doubtful debt, which intends to overstate receivables. Understated depreciation on long-term assetFirms are required to recognize impairment in values of the long assets when they arise. However, estimates of asset valuation and impairment are highly subjective. As a result, managers intend to delay or reduce write-down, or even not show impairments. This issue is especially crucial or asset-intensive firms in volatile markets. A review of Note 12, the economic situation in Ireland has continued to deteriorate and severe recession has impacted all Irish retailers resulting in large trading losses in Ireland during the year, while an impairment loss in plant and equipment assets is slightly lower than expected. Capitalized R&D outlays The economic benefits from research and development are highly uncertain. In this case, the company capita lize IT projects, which cannot clearly show us a certain future benefits. Adjustment Recommendation Although there are reasonably large chances for the managers to manage and manipulate earnings, these managements are not materially enough to make adjustment. PCI may become incentives for managers to manipulate earnings but also can be seen as incentives for managers to work on their best for the company as the higher earning achieved the higher incentives they can be awarded. Therefore, no adjustments have been made on all the accounting numbers, which will be used for analysis afterwards. References Harvey Norman (2010), ‘About Us’, Website, http://www. arveynorman. com. au/page/1255509869113/about-us Harvey Norman Holdings Ltd (2010), ‘Company Profile’, Website, http://www. harveynormanholdings. com. au/companyprofile. htm Harvey Norman Holdings Ltd (2010), ‘Harvey Norman Holdings Limited Annual Report 2009†, Website, http://www. harveynormanholdings. com. au/pdf_files/2009_annual_report_final_for_release_141009. pdf Harvey Norman Holdings L td (2010), ‘Harvey Norman Holdings Limited Annual Report 2008†, Website, http://www. harveynormanholdings. com. au/pdf_files/2008_Annual_Report_FINAL_30Sept. df Keith J. Crocker, Joel Slemrod, ‘the economics of earnings manipulation and managerial compensation’, October 2006, NBER Working Paper No. 12645, JEL No. A12 Richard, D. 2009, ‘Harvey Norman Conducts Major CE Review Up to 10 Stores to Go’, viewed 10 April 2010,http://www. smartoffice. com. au/Business/Retail/N9C6R5F6 Palepu, K. G. and P. M. Healy, Business Analysis and Valuation Using Financial Statements: Text and Cases, 4th ed. , South-Western College Publishing, 2007. Appendix Appendix A Standardized Financial Statement Appendix B SWOT Analysis Strengths: As mentioned above, its franchising operation is one of the company critical success factors and as well is their strength. In addition, Harvey Norman has a commitment to improve technology and supply chain management systems in response to the market growth, which becomes its business strength. In Australia the company benefits from enormous economies of scale in both purchasing and marketing. Also, the company is one of the biggest media spenders in the country, contributing to a high level of brand recongition throughout Australia. Another strength is their strong financial position, which is indicated in the financial highlight in the annual report 2008, as a result of their effective integrated retail, franchise and property system, it has built a strong financial position and low gearing that has placed Harvey Norman in an excellent position to capitalise on any competitor failure in the market place and to take advantage of emerging opportunities. Weakness: According to a review by David Richards (2009), David Ackery, the general manager of Electrical at Harvey Norman comments that they are facing the issue of its margin with its vendors and retailers. Although the gross profit margin in 2008 is stable and slightly increased in comparison to 2007 from 25. 9% up to 26. 7% (calculated from the income statement 2008), the vendors and retailers are continuously placing pressures on its margin. Furthermore, the closure of its export and distribution businesses in Singapore and Malaysia has negatively impacted on the profitability in Asia market. Another weakness is the gaming market that had not performed as well as JB Hi Fi with Ackery (2009) admitting that it was a booming area of the market, where Harvey Norman had not taken much market shares in this area. Opportunities: Harvey Norman is being the market leader in the industry and has improved and maintained its market share position in Australia, which makes it difficult for new entrants to enter into the market. Harvey Norman has the opportunities to continuously expand its operations into international markets as it has been proven in its successful operations in overseas such as New Zealand. As a result of its strong financial position, Harvey Norman has the capability and ability to invest in expanding its operations in other geographical areas that are potentially profitable as well as extending its product offerings. Threats: Global economic recession is a major threat to any industries and companies including Harvey Norman. Also, capital market liquidity crisis, contracting monetary policy, high inflation and petrol prices are negatively impacting on consumer sentiment, which decrease the demand and thus, profitability. Prices on electrical items had been falling due to a rising Australian dollar and the rapid obsolescence of many technology products, which lower its profit margin and increases expenses. Appendix C Project and Team Work Source/Information Origin and Significance Source and information used for this project would come from Harvey Norman’s corporate website (which includes corporate profile, investor relations sections, past annual reports). Also media coverage of the company, its competitors, and market landscape/environment will also be used as reference to allow for ample understanding and analysis of Harvey Norman and its business operations. The Difficulties of Analysis on the Industry and Company Harvey Norman has business operations in multiple segments including electrical, computer, furniture, entertainment and bedding goods, with more than 160 stores located in Australia and abroad. Because Harvey Norman is a conglomerate/franchise, which provides products ranging from notebook computers to sofas to beddings, so it is slightly hard to label its business, which consequently leads difficulty finding fair industry benchmark. It is hard but interesting to analyse this case. Some other problem may be that the major information are from internal statement, and external source are either somewhat trivial or lack of detail. The Contribution of Each Group Member The work of this group project is equally allocated to each group member based on his or her strength and weakness and each group member contributes a hundred percent to their work. They are able to meet the deadline even though; everyone has their own personal commitment. Issues with Team Work and Solution

Prevention and Control of Pollution Essay

The enhanced pace of developmental activities and rapid urbanization have resulted in stress on natural resources and quality of life. The trend of increasing pollution in various environmental media is evident from the deteriorating air and water quality, higher noise levels, increasing vehicular emission etc. Realising the urgent need for arresting the trend, Ministry adopted policy for Abatement of Pollution which provides for several mechanisms in the form of regulations, legislation, agreements, fiscal incentives and other measures to prevent and abate pollution. Further, realizing that conventional pollution control approach by treatment at the end of the pipe is not delivering the desired benefits in terms of resource conservation, the thrust has been shifted to pollution prevention and control through promotion of clean and low waste technology, re-use and recycling, natural resource accounting, Environmental Audit and Institutional and Human Resource Development. To give effect to various measures and policies on ground, multi-pronged approach is adopted which includes stringent regulations, Development of Environmental Standards, Control of Vehicular Pollution, preparation of Zoning Atlas for Spatial Environmental Planning including Industrial Estates etc. Major activities carried out under several programmes/schemes during the year are as follows : Industrial Pollution Abatement through preventive strategies This scheme is an amalgamation of the three on-going schemes viz. Environmental Audit, Adoption of Clean Technologies in Small Scale Industries and Environmental Statistics and Mapping, which have been continuing since eighth Five Year Plan. Due to encouraging results and benefits to various small scale units, these schemes are being continued during the 10th Five Year Plan also: Environmental Statement (As a part of Environmental Audit) Environmental audit is a management tool and provides a structure and comprehensive mechanism for ensuring that the activities and products of an enterprise do no cause unacceptable effects on the environment. Submission of an Environmental Statement by polluting units seeking consent either under the Water (Prevention and Control of Pollution) Act, 1974 or the Air (Prevention and Control of Pollution) Act, 1981 or both and the Authorization under the Hazardous Wastes (Management and Handling) Rules, 1989 has been made mandatory through a Gazette Notification of April, 1993 under the Environment (Protection) Act, 1986. The Environmental Statement enables the units to undertake a comprehensive look at their industrial operations and facilities, understanding of material flows and focus on areas where waste reduction and consequently saving in-put cost if possible. The primary benefit of environmental audit is that it ensures cost effective compliance of laws, standards, regulations, company policies etc. During the year, action has been initiated to evolve model environmental statements in various sectors for facilitating comparison in use of raw material, water conservation, energy consumption etc. A project has been sponsored to Central Pollution Control Board for evolving model environmental statement in the eight sectors viz. Sugar, Thermal Power Projects, Cement, Paper and Pulp, Pesticides, Bulk Drugs, Tanneries and Textiles Activities. Waste Minimisation/Cleaner Production Waste minimization is one of the strategies adopted for minimizing the industrial pollution. The objective of the scheme is to assist the small and medium scale industry in adoption of cleaner production practices. A project has been sponsored to National Productivity Council on â€Å"Waste Minimisation in Small Scale Industries† for establishment and running of waste minimization circles in clusters of small scale industries, capacity building in areas of cleaner production, establishment of demonstration units in selected industrial sectors etc. So far 115 waste minimization circles have been established through out the country and a large number of Organizations and Institutions have been trained in waste minimization activities. The project was executed till November, 2002 under the World Bank project on Industrial Pollution Prevention (IPP) as Phase-I and Phase-II is now being continued with Ministry’s internal funds. Implementation of this project has helped in identification of more than 200 options for resource and energy conservation in various small scale industries. Environmental Statistics and Mapping For sound Environmental Management, reliable information base and the mapping of areas needing special attention for pollution prevention and control are a pre-requisite. As a step in the direction, projects and pilot studies have been initiated through various research institutions and organizations. Under this program, following studies have been initiated and are in various stages of completion : – GIS based Hydrological Modelling for Water Quality and Quantity in Cauvery River Basin by IIT, Delhi. – Geochemical baseline Mapping for Environmental Management by National Geophysical Research Institute, Hyderabad. Development and Promotion of Cleaner Technologies Life Cycle Assessment (LCA) Life Cycle Assessment is a decision cum management tool which provides information on the environmental effects of various products and processes so as to arrive at necessary corrective measures to make the entire process efficient with optimal utilization of resources and minimal wastes generation. LCA studies have been initiated in various sectors namely; Steel, Pulp and Paper and Thermal Power. The study in the Steel Sector was completed earlier and the report is under preparation. The study relating to the Thermal Power Sector has been completed during the year while the study in the Pulp and Paper Sector is progressing as per schedule. Industrial Ecology Opportunities in Ankleshwar and Nandesari Industrial Estates, Gujarat A study was undertaken to develop and implement Industrial Ecology Opportunities in Ankleshwar and Nandesari Industrial Estates of Gujarat. The study has examined technologies used by industries in this region and suggested possible approach to achieve eco-efficiency within the industrial estates to reuse and recycle wastes and effluents generated from different industrial units. The recommendations of the study have been discussed in a workshop with all stakeholders including State Government Agencies for their implementation and an Action Plan is being drawnup by them. Development of Market Based Instruments for Regional Environmental Management in the Kawas-Hazira Region in Gujarat The ongoing project on Development of Market Based Instruments for Kawas-Hazira Region of Gujarat has been completed. The study report has observed that the taxes and incentives based on efficiency improvements align the pollution control agencies better with the polluters than the Command and Control (CAC) regime. Such an instrument also facilitates prescribing incentives for achieving the triple bottom line, viz economic-efficiency, environment-responsibility, and social-relevance entitling the Corporate to Clean Development Mechanism (CDM) and other cleaner-production benefits. The recommendations of the study have been discussed in a workshop with all concerned. Field Demonstration and Development of Bamboo Based Composites/Panels The ongoing project on field demonstration and development of bamboo based composites/panels was continued during the year. Under this project, commercial production of horizontal and vertical laminates have been made using Bambusa bamboo Species. Construction of demonstration houses will be taken up during the current year. Recycling of Marble Slurry in Udaipur, Rajasthan A two years duration project has been sponsored for the manufacture of bricks and tiles from marble slurry in Udaipur, Rajasthan with the aim of utilizing wastes arising out of marble cutting and processing for the purpose of improving the local environment. Bio-remediation of Railadevi Lake in Thane, Maharashtra A project relating to cleaning of Railadevi Lake in Thane District in Maharashtra using bio-remediation technique has been sponsored to Thane Municipal Corporation.

A Passage to India

While the plight of the colonized is tragic, filled with degrading images of subjugated civilizations and noble people reduced to mere laborers, it is the colonizer, the British of India, and their rapid change from newly arrived colonist to rigid and unforgiving ruler that draws my interest. The characters constantly comment on these changes that occur to the British once they adjust to the imperialist lifestyle. In the second chapter of the novel Hamidullah, a Muslim character, remarks to his friends, â€Å"Yes, they have no choice here, that is my point. They come out intending to be gentlemen and are told it will not do. . . . I give any Englishman two years. . . . And I give any Englishwoman six months† (Forster 7). Miss Quested constantly worries about becoming this caricature of her former self and also recognizes the changes in her husband-to-be, Ronny, as he fits into the British ruling class lifestyle. Fielding looks at the uncaring people his compatriots have become and marvels as he befriends an Indian Muslim. Is it possible that colonialism has an effect on the colonizer as well as the colonized? Forster clearly demonstrates that colonialism is not only a tragedy for the colonized, but effects a change on the colonizer as well. But how and why does this change occur? Aime Cesaire proposed that it is simply the savage nature of colonization that changes man into their most primal state (20). This does not work because there is no blatant savagery as in Heart of Darkness. Forster doesn’t seem to be parading the cruelty of the colonizer. Thomas Gladwin and Ahmad Saidin suggest that the change is simply the myth of the white man as the British citizens assert their crowns of supposed natural, higher intelligence and worth (47). This does seem to be a good argument because of the superiority that the British colonists take upon themselves in the novel, sequestering themselves in the British club that no mere Indian can be a part of. However, it doesn’t account for the more inquisitive and benevolent natures of Adela and Mr. Fielding and their acts and opinions toward the Indian people. In his essay â€Å"Shooting and Elephant,† George Orwell states that: When the white man turns tyrant it is his own freedom that he destroys. He becomes a sort of hollow, posing dummy, the conventionalized figure of a sahib. For it is the condition of his rule that he shall spend his life in trying to impress the ‘natives,’ and so in every crisis he has got to do what the ‘natives’ expect of him. He wears a mask and his face grows to fit. (152) Orwell suggests that the change is merely the taking on of a role and that the colonizer is an actor required to play the part of the British ruler. It is expected by the native people, and also by their fellow colonists. This expectation is shown through the comment of Hamidallah and his insistence of the inevitable change. It is expected. It is the acceptance of this role is the change that affects the characters in A Passage to India, and if this is the accepted norm, then it goes to reason that those who do not accept it will find themselves outcasts of the society they reject. This is what I intend to show by comparing the plights of Forster’s characters Ronny, Adela, and Fielding, as I explore their differing approaches to this role and the effects that come of either accepting or rejecting it . The first groups of colonizers are those who accept the act of leadership whole-heartedly. They separate themselves from the population, declaring their own superiority over the masses as they build their walled compounds content to be out of sight and sound of any Indians, with the exception of their servants (of course) (Kurinan 44). They seek to make Britain in India, rather than accepting and glorifying the resident cultures. They remain strangers to it, practically living in a separate country they provided for themselves, yet ruling one that they remained aloof from (Eldridge 170). This is the Englishman or woman who feels that without British rule everything will fall to ruin and chaos, anarchy being the ruling class in their stead (Kurinan 33). This is also the class that Albert Memmi, author of The Colonizer and the Colonized (and a former colonized citizen himself), calls the â€Å"colonizer who accepts† (45). It is the colonizer who accepts his or her given role as ruler and god over the colonized people. Memmi supports Orwell’s idea of the role they play by stating that â€Å"the colonizer must assume the opaque rigidity and imperviousness of stone. In short, he must dehumanize himself as well (xxvii). † Those who accept the role of the British administrator lose a part of themselves in the process, becoming an actor instead of a man, doing what is expected, not what is right. Forster picks up on this idea as well. Ronny Healsop is the character that exemplifies the ruling class of the nineteenth century British colonizers. He fulfills the characteristics of the administrative class. He adopts the aloof and chilly manner that was characteristic, caring only about his superiority over the Indians and his evenings at the club with his own kind (Kurinan 43). He shows his callousness and robotic adherence to his role as magistrate in India in an argument with his mother. ‘We’re out here to do justice and keep the peace. Theme’s my sentiments. India isn’t a drawing room. ‘ ‘You’re sentiments are those of a god,’ she said quietly, but it was his manner rather than his sentiments that annoyed her. Trying to recover his temper, he said, ‘India likes gods. ‘And Englishmen like posing as gods. ‘ ‘There’s no point in all this. Here we are, and we’re going to stop, and the country’s got to put up with us, gods or no gods. . . .I am out here to work, mind, to hold this wretched country by force. I’m not a mission ary or a Labor Member or a vague sentimental sympathetic literary man. I’m just a servant of the Government. . . .We’re not pleasant in India, and we don’t intend to be pleasant. We’ve something more important to do’ (51-52). Ronny dehumanizes himself with his constant ravings about having more important things to do in India than being pleasant to the â€Å"natives. He puts himself up as a god, only there for justice and to hold the country together by force. He sheds any ideas of sentiment and in doing so shows how such ideas are looked upon with derision by the ruling class of the colony. Adela, Ronny’s intended fiancee, recognizes this loss of humanity in him from his arguments. She thinks about his manner and it upsets her that â€Å"he did rub it in that he was not in India to behave pleasantly, and derived positive satisfaction there from! . . . The traces of young-man humanitarianism sloughed† (52). What she doesn’t realize is that Ronny is merely accepting his role as Orwell’s â€Å"conventionalized figure of a sahib† and Memmi’s typical colonizer: harsh and cold with no time or inclination toward sentiment. Adela Quested is troubled by this conventionalized role. She comes to India to see its wonders and to connect with its people. Her first moments of seeing Ronny are telling because they show her reluctance to take upon herself the role of the British administrative archetype. She marvels at how he has changed and how unsympathetic he is to those he rules over. This idea is something that haunts her as she continually struggles with the role she must take on if she marries Ronny and remains in India. She has a hard time reconciling the notion of the India she sees with that she must be apart of. â€Å"In front, like a shutter, fell a vision of her married life. She and Ronny would look into the club like this every evening, then drive home to dress; they would see the Lesleys and the Callenders and the Turtons and the Burtons, and invite them and be invited by them while the true India slid by unnoticed† (48). Adela does not wish to be a part of the society that Ronny is so fond of. She even goes so far as to ask an Indian about how she can avoid becoming as the other women, something that no other British woman would do. As she rejects her role as actress in the British imperial play, Adela becomes Memmi’s â€Å"colonizer who refuses† (19), becoming contemptible in the sight of the English society of India. Those who did not accept this role were viewed as the enemy in the imperial point of view. Memmi points out that those who enter the colonies must accept or go home. There is no middle ground. Those who show signs of humanitarian romanticism are viewed as the worst of all dangers and are on the side of the enemy (20). Adela’s thoughts are always viewed as naive and idealistic, but everyone has faith that she will fit in in time. The British laugh at her notions of wanting to see the real India that they try to shut out every day, but they figure that she will fall in line in the end. But what happens if she doesn’t? Adela’s refusal to pursue charges against Aziz when she realizes her folly in accusing him of attempted molestation leaves her ostracized. She rejects the role of imperialist colonizer and must live with the consequences. Those who were once her greatest supporters, fawning over her illness and pretending to be so caring and concerned, now become her most vehement enemies. Memmi observed that those colonizers who felt their ideas were betrayed became vicious (21). As Adela found out after her acquitting remarks on Aziza’s behalf, her friends turned against her, her superiors denounced her, and even Ronny left her. Adela realizes that if she doesn’t choose to wear the mask of imperialism that â€Å"one belongs nowhere and becomes a public nuisance without realizing it. . .I speak of India. I am not astray in † (291). One key element of her statement is that she is only a nuisance in India. Memmi asserts that those who are good cannot stay in the colony (21). The best of people must leave because they cannot accept the consequences of their remaining as a colonist. This idea also shows that these chan ges in character are only exhibited in India. The English in England share differing opinions and ideas. They are not caught in the play as the colonists are and so it shows that a definite change exists between leaving England and acclimatizing to India. Therefore, Adela, although cast out from the imperial administrative class of , may remain unchanged and return to . The last character is that of Fielding. Fielding takes on the role of the colonizer who refuses, but he takes a different path than Adela. Instead of leaving he turns to the colonized for support. Fielding always connects with the Indians. He has no qualms about speaking to them or visiting them in their homes, even visiting Aziz when he falls ill. He doesn’t frequent â€Å"the club,† because he doesn’t share all of the same opinions that the ruling English colonizers do. Fielding also realizes the truth that the real India lays not in the British imperial scope, but in the Indians themselves. When Adela is expressing her desires to see the real India, Ronny asks Fielding how one sees the â€Å"real India. † Fielding’s answer is â€Å"Try seeing Indians† (25). This question results in many of the people at the club talking about how they see too many Indians and too often. This comment about seeing the real India through its people, however, shows a definite sympathy with a conquered people, more than any of the other British people were willing to show at any point. Fielding takes his rejection of the imperialist nature so far as to support and defend the natives against his own people. When Aziz is accused of assault on Adela, Fielding is the first to come to his aid, forsaking his own people. He even defiles the sanctity of the club, choosing it to be his battle ground and denouncing his own people and the play that they have chosen to act in. He makes a very bold statement to the amazement of his fellow British subjects. He declares, â€Å"I believe Dr. Aziz to be innocent. . . . If he is guilty I resign from my service, and leave India. I resign from the club now† (210). He completely rejects his people in their chosen sanctuary, defiling their temple of Britishness and becoming their number one enemy. He is immediately denounced as he rejects this role of imperial aristocrat for benevolent humanitarian. He refuses the mask and doesn’t just walk away from it, as Adela must eventually do, but he stomps on it. He in no way forsakes his British heritage, but he realizes that friendship is possible with the Indians, and he is willing to fight for his cause. He becomes the moral hero to the Indians, a quality that Memmi says is important to his acceptance into their confidence. But, Memmi also states that Fielding cannot completely join them because above all he is still British and therefore holds the same ideas and prejudices that he grew up with (45). That is unavoidable because, after all, Fielding is still a British citizen, something that can’t be erased. In the end Fielding does turn back to his own people, marrying an English girl, but I think it is significant that he returns to England to find this girl, who is connected with Miss Quested and Mrs. Moore, the two idealistic characters in the novel. Fielding becomes more of a part of the imperial ociety with his marriage ties, but he remains free of the change that occurs in the colonies by making his match away from India. He stays free of the role of imperial actor and continues on with his notions of friendship and peace with the Indian people. I assert that Forster presented Fielding as an example of how to resist the imperial Indian machine and yet still maintain his British culture. Fie lding is the most sympathetic, not wavering on his regard for the people, only realizing the differences that may lie between their personalities and cultures. When he becomes the â€Å"colonizer that refuses,† Fielding shows that resistance of the changes that come upon the colonizer is possible and that the role of imperial actor may be refused. Imperialism was a British institution for a long time. It brought British people in contact with many cultures and peoples. It also helped them to affect a great amount of change on indigenous ways of life. The images and accounts of the brutality and callousness of the Imperial administrators are legendary and will always be the most examined part of its long stretch until its fall in the twentieth century. These effects on the native cultures are important, as are the accounts of their plights, however now we can see that Imperialism and colonization didn’t only affect the colonized, but that it had an effect on the colonizer as well. Aime Cesaire stated that â€Å"colonial activity, colonial enterprise, colonial conquest, which is based on contempt for the nature and justified by that contempt, inevitable tends to change him who undertakes it† (20). Living the life of imperialism has its stamp. It can’t help but have it. As George Orwell insinuated, it is a play, and the imperial citizens and administrators were actors, trying to play their parts as demi-gods with great confidence and authority (Kuinan 55). When any person did not live up to the art of performance, they either returned to England or joined in the plight of the native, being ostracized from their â€Å"people. † Forster presents a picture of this Imperial England. A Passage to India provides a perfect stage in which to watch the action play out among those who accept their role and those who rebel, whether knowingly or not. His portrayal of the characters Ronny, Adela, and Fielding show the three different types of colonizers that Memmi observed in his own life as a suppressed â€Å"native. † Each character portrays a different situation and mind set, demonstrating the different alternatives in the colonial/imperial life. Through these characters we truly see the effects that imperialism had on not only the colonized, but also the colonizer, showing that no one is immune .

Build and sustain an innovative work environment 2 Assignment

Build and sustain an innovative work environment 2 - Assignment Example The company has put measures in place to ensure that the emissions from the plant are minimized to prevent environmental degradation. The company’s business booms because waste is produced on a daily basis from households. The company applies both traditional and modern methods in its business approach. The strategy enables the company to manage the innovation process properly. The traditional business approach enables the company to streamline its activities in order to achieve its objectives. The other strategy entails the building of support for the business. Organization for Economic Co-operation and Development (2009, p. 59) claims that the process of building support for the incineration involves strategic alignment. The strategy promotes objectivity within the business framework in order to explore more innovative means of doing business. The company also engages in the scrutiny of the emerging trends in the incineration business in order to identify novel means of doing business. The strategy gives the firm industrial foresight. Consequently, the company can explore new ways of doing business. The company focuses on the specific needs of the communities. In this regard, the welfare of the public is guaranteed. The responsible disposal of the garbage benefits the public given that the disposal preserves the ozone layer, which is a source of livelihood for millions of people. Corporate responsibility enhances the objectives of the company. The company utilizes its assets constructively and makes use of modern technology in its operations (Hester and Harrison, 2014, p. 83). Additionally, the company is proactive and ready to face any form of eventuality. The company has a culture of motivating and inspiring its employees, which enhances the innovativeness of the firm. The strategy fosters discipline in the firm. Discipline enhances the creativity of the firm workers. The company modifies its innovative principle in

Case Study Foreign Direct Investment Essay Example | Topics and Well Written Essays - 3000 words

Case Study Foreign Direct Investment - Essay Example Continuous growth is essential for company’s survival in the interest of its investors and work force. Hence, this reports addresses strategy development directions in this regard. The idea of growth should be one of the business objectives. The company needs to engage in strategy development so as to create competitive advantage over its competitors. The strategy development is important as it should be difficult for the competitors to replicate. Collaboration with business partners or the stake holders such as the company’s suppliers, distributors and customers is a guarantee creating a competitive advantage which the competitors cannot easily emulate (Campbel, Stonehouse, & Houston, 2002) Different strategies to achieve competitive advantage are 1) knowledge-based strategy, 2) generic strategy 3) hybrid strategy and 4) core competence/distinctive capability/resource-based strategy. Organizations generally will select one of the strategies and incorporate value-adding activities in support of the strategy selected. These strategies are briefly explained (Campbel, Stonehouse, & Houston, 2002). ... Tacit knowledge is that which cannot be stored being mostly of individual experiences of experts. This is also not possible to be copied by the competitors (Demarest, 1997). There should be at least three types of knowledge available within firms. They are know-how, know-why and know-what referring to practical knowledge, theoretical knowledge and strategic knowledge respectively. All these combine to form core competencies of a firm. Generic strategies are the well known Michael Porter’s generic strategy frame work that explains the competitive advantage of a firm. (Campbel, Stonehouse, & Houston, 2002). Hybrid strategy is the combination of knowledge strategy and generic strategy. Lastly, the core competency strategy which is nothing but the essence of the firm’s vast experience in the tradional activity the firm has been engaged in. Ansoff’s matrix will also serve to give the proper direction for the company’ s future activity. In view of the saturated market in Europe, the only way out for XYZ Plc is to seek greener pastures abroad. Developing countries are the niche market for automobiles because the globalization has improved the standard of living for the people therein resulting in creation of demand for automobiles. Markets for automobiles in these countries has not yet saturated. These countries are attractive not only within the context of domestic market for automobiles but also the savings in wages by almost 65 per cent. The countries offering huge opportunities for investment are China and India, the world’s two largest populated countries. Foreign Direct Investment (FDI) These countries have benefited a lot from the inward FDI flowing in continuously. India especially has survived the economic crisis that

The Future of Greece Essay Example | Topics and Well Written Essays - 1000 words

The Future of Greece - Essay Example Interestingly, news articles and public opinion tended to believe that Greece would default and the European Union would be faced with the question of whether to integrate further whether to dissolve entirely. Although this is still very much a reasonable expectation with respect to the outcome of the PIIGS in Europe (Portugal, Ireland, Italy, Greece, and Spain), a more likely scenario that is been exhibited over the past several years is the fact that the European Union will continue to bankroll the debt of Greece, and country similar to it, as long as the central bank of Europe has the wherewithal to continue bankrolling the liabilities of this small southern European nation. Ultimately, there are only two outcomes can exist for Greece in light of the information that is thus far been presented. Sadly, neither of these outcomes are particularly optimistic. The first outcome is necessarily contingent upon the belief that Greece will ultimately default upon the debt that the European Union has provided it and will be censured by dismissal from the European Union and forced to be something of a satellite state to the European Union; something that is never before happened. Within this particular interpretation of overall likelihood and future potential, Greece would be able to regain control of its currency and either renege upon the debt that it has thus far accrued by printing a massive amount of money, or seeks to honor these engagements through a slow and arduous process of repayment. Within such a framework, the only tangential benefit set out to that would be the sovereignty over its own monetary instruments and the mechanisms through which a Greek central bank could seek to change the fiscal policy and dismal economic Outlook that the nation faces in the immediate and near future. A secondary and equally dismal outcome is that Greece would maintain itself within the European Union and continue to borrow an unsustainable level of cash as a means of funding its operations domestically. Unless the European Union type is debt mechanism and does not allow for Greece to continue to exercise the bailouts that is received over the past several years, this outcome is not only likely but expected. However, the repercussions of such a decision matrix would mean that Greece would not be able to exercise any degree of sovereignty with respect to the way in which it continues to operate its economy. Due to the ever increasing level of regulations that European funding, through the European Central Bank, has impacted upon Greece, nearly each and every economic decision that is made at the national level is not contingent upon the actual decision-makers within the country; rather, it is contingent upon how Brussels views the best interests of Greece through a strategy of debt repatriation Sadly, both of these alternatives necessarily create a situation through which the nation of Greece is at the mercy of an unbelievably high level of national that for a very long period of time. A handful of instances can be recalled that help the reader to understand how such constricting levels of debt can impact upon the overall quality of life, GDP, and expectation for future profitability that the nation might at some point in the future hope to assume. As it stands within the current model, the debt of Greece is something of the sword of Damocles through which the Greek economy can neither escape nor hope to grow. This is not only a dire situation but one that begs the relevant powers

Intervention and post-conflict growth (Has to be more specific) Essay

Intervention and post-conflict growth (Has to be more specific) - Essay Example Consequently, the structure of the economy can also be affected by conflicts, and I shall feature the case of the two Latin American countries; Costa Rica and Nicaragua. Furthermore, I shall feature on the causes of conflicts and alternative ways of conflict resolution. This is because, in a conflict situation there has to be a consensus to resolve conflicts for the economy to return normalcy. Instability is one of the factors that have serious adverse effects on the economy. Conflicts have serious consequences on the economy because conflicts, usually, destroy the wheels of the economy one of them being the destruction of the human capital. In post conflict situations, the economy can take a relatively short or long time to recover depending on the measures undertaken to curb the situations in post conflict situations. In the Basque Country case study shows that the GDP dropped by 10% between since the start of the insurgent 1n 1960 (Abadie and Gardeazabal, 2003). The economic growth can be explained from two theories i.e. neoclassical growth theory that predicts that after the conflict the economy recovers quickly. On the other hand, another alternative model explains that the economic recovery may take a long time because the human capital takes a long time to recover (Serneels and Vapoorten, 2010). In some post conflict situations, some countries may fail to progress due to the poor economic performance. Additionally, some of the conflicts inflicted countries experience economy recovery few years after reconciliation (Serneels and Vapoorten, 2010). If physical capital is destroyed during conflicts then an economy is likely to converge quickly but if the human capital is destroyed during the conflict then it will take a relatively long time for the economy to recover to its normal state. According to Serneels and Vapoorten (2010), a civil conflict is less detrimental than an international conflict in terms of physical infrastructure

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The Use of Forecasting - Term Paper Example There are a number of options that can be used to respond to this situation. Since it is clear the organization will overspend when buying the new computers, then actions plans ought to be implemented to cut down on other costs. One of the options that can be used in this situation relates to staff forecasting (Baker and Baker, 2014). The organization can cut down on the number of staff in order to cut down on costs that would otherwise be spent in purchasing the computers. Since planning for the computers is ongoing, them planning should also be going on to cut down on the staff. This option has its own ramifications. Reduced number of staff will definitely elevate stress levels and burn out and this translates to poor services. Poor services means that patients will also be dissatisfied. Dissatisfied patients in many cases will opt to seek care in other facilities hence leading to decreased revenue for the facility. Expense forecasting as cited by the media can be used to identify the availability of resources (Laureate Education Inc, 2012).Identifying available resources within the organization can help spot resource that can be pulled and be used for other purposes. The second option that can be used in this case scenario therefore is to pull resources meant for other purposes within the institution to cover for deficit outlined in the new expense report. This can also have negative effects on the quality of services and patient satisfaction. The pulled funds may have been intended for quality improvement and hence pulling them will mean that they initially intended purpose will not be achieved. The third option would be to push the extra expenses to the next budget such that the department operates on a deficit the coming year. This might also affect the delivery of services due to insufficient funds but the effects can be

The performance appraisal methods Essay Example | Topics and Well Written Essays - 500 words

The performance appraisal methods - Essay Example Some might think that this is just a tool to reward the employees and hence they would not care much about the performance appraisal methods that are in place within an organization. Others might just not think about these performance appraisal methods which essentially kills the idea of having these performance appraisal methods in the first place. What is needed however is a collective vision to respect the performance appraisal methods so that there is immense importance tied up with them and the end results are exactly similar to what were expected out of these performance appraisal methods in the first place.  If turnovers are managed properly within the organizations, this would mean that the employees are being handled in a fair enough way. This would also implicate for their understanding that the organization is serious about keeping a balance between the two – the hiring regimes and the firing mechanisms that are in place. This is an imperative understanding becaus e how long the employees would want to stay is directly proportional to how long the organization would like to keep them within their folds. Also the fact that they have been looked after well, given the resources that are required at their ends, allocated work tasks in accordance with their skill set and the like are some of the most salient factors behind managing the turnover in an appropriate capacity (Looise, 2011). These ensure that the company is taken in a nice stead around the industry and people respect it across the board.

Bahamian Society Essay Example for Free

Bahamian Society Essay Issues That Arise In Bahamian Society When Educated Bahamians Decide To Live In Other Countries The Bahamas is in danger of being overtaken by foreigners. Although this statement is fallacious in context, many Bahamians today would not necessarily disagree with it. That, inevitably though, is a situation that the Bahamas can be faced with if educated Bahamians continue to migrate to other countries at a high rate. This migration, better known by the term ‘Brain Drain,’ is and will always be a part of society where educated people leave their native developing countries and seek out more wealthy, opportunistic countries. As noted in the article Reassessing the Impacts of Brain Drain on Developing Countries, â€Å"nearly one in 10 tertiary-educated adults born in the developing world — between a third and half of the developing worlds science and technology personnel — now live in the developed world† (Sriskandarajah). Although the idea of moving to a more wealthy country can be beneficial to the Bahamians that are migrating personally, there are some problems that can arise in the Bahamian society as a result of this. When educated Bahamians decide to live in countries outside the Bahamas, it can hamper development in the country, effect family relationships, and can leave the country vulnerable to foreign manipulation. Educated Bahamians are needed in the Bahamas to further develop the country innovatively. If these Bahamians decide to migrate to other countries, then there could grow to be a great discrepancy in the overall progress of development in the Bahamas because of their absence in the labour force. According to Simon in the article, Bring Home Bahamian Talent, getting access to those skilled Bahamians living abroad and their resourcefulness is crucial to the National Development of the Bahamas (par 3). The Bahamas cannot continue to primarily focus on tourism as its major contributor to the economy when the amount of competition present in the Caribbean continues to grow and major tourism contributing countries such as the United States of America are still recovering from a drastic recession. Komolafe affirms that, â€Å"We must expand our industries to provide job and entrepreneurship opportunities for Bahamians outside of tourism and financial services, which are heavily dependent upon the stability and prosperity of the U.S., E.U. and Canadian economies† (Par 9). This is one of the reasons why Intelligent Bahamians with an entrepreneurship mindset are needed in the Bahamas. In the article, The Bahamian Business Structure: A New Look at our Economy, it states that â€Å"this country (the Bahamas) already has a long history of entrepreneurship and capital formation† (Coulson). Bahamians with this entrepreneurship mentality and drive are the leaders that the Bahamas must retain and motivate to create new business ventures and develop more innovative opportunities for themselves as well as for other Bahamians to find meaningful employment. Family relationships are also affected when educated Bahamians leave their native country and migrate to other countries. Communication is a key factor when dealing with this situation. A household can be greatly affected when, for instance, a parent migrates to another country seeking employment, and leaves their husband/wife in the Bahamas to be a single parent. Even though there might be constant verbal communication between the migrated parent and his/her family, if the overseas job becomes demanding time wise, their absence will be felt in the home and can put an emotional strain on the relationship of the family. That lack of a proper family structure and guidance can also affect the children as they can become susceptible to the influence of society and their peers. This correlation is important because when children become exposed to the realities of society such as violence and peer pressure that is where some can fall astray. Juvenile delinquency is becoming an increasingly serious social ill in the Bahamas whereas, for instance the article, Jveniles Accused of Crimes Jumped 79% in 09, notes that â€Å"The number of juveniles accused of committing crimes in 2009 increased dramatically by almost 80 percent compared to 2008, according to Acting Director of Rehabilitative and Welfare Services Quintin Gray.† Another issue that can be caused by the absence of educated Bahamians in the Bahamas is that it can create an opportunity for foreigners to stream into the Bahamas. This can become a situation that foreign countries seeking to make bonds and gain ties with the Bahamas and its government can take advantage of. Although this idea does not seem detrimental on the surface, the implications of it can lead to corruption and foreign manipulation in the Bahamas. With foreign direct investment on the rise year after year, â€Å"inflows to the Bahamian economy increased by 48.7 per cent to $977 million during 2010,† the Government must realize that such a heavy reliance on foreign influences increases the vulnerability of the Bahamas (Hartnell). Many major tourism projects such as Baha Mar and the new Thomas A. Robinson stadium are being heavily funded by foreign investments which at some point in time must be compensated for by the government. As quoted in the article, Bahamas ‘Polarised By A Dual Economy’, These foreign policies have created a dual economy: foreign economy and the Bahamian economy, where the former is dominant and rising, and the latter is subordinate and sinking† (Hartnell). With the government in full support of foreign direct investment the advantages of being a foreigner in the Bahamian marketplace seems to outweigh that of being a local Bahamian looking to enter and prosper in this marketplace. In conclusion, in order to reduce the chances of these problems caused in the Bahamian Society when educated Bahamians migrate to other countries, the Bahamian government must find a solution that would encourage educated Bahamians to want to stay in the Bahamas and assist with the economic growth of the country. Also, these intelligent Bahamians who have and will eventually leave the Bahamas and migrate to another country should understand that the Bahamas does have the opportunities available to support their creative ideas and The Bahamas, being one of the richest independent countries in the Caribbean, is a place where they can find prosperity and a satisfactory place for employment. The Bahamas is considered a part of the ‘Developing world’ for a reason, it is still in the process of growth and finding its identity in the global marketplace, thus requiring those locals that are highly educated and trained to produce for their country and take the leadership role. Works Cited â€Å"Bring Home Bahamian Talent.† Bahama Pundit. 9 Nov. 2010. 14 Feb. 2012 http://www.bahamapundit.com/2010/11/bring-home-bahamian-talent.html#more Coulson Richard. â€Å"The Bahamian Business Structure: A New Look at our Economy.† The Nassau Institute. 12 July. 2003. 17 Feb. 2012 http://www.nassauinstitute.org/articles/article370.php Hartnell Neil â€Å"Bahamas polarised by a dual economy.† The Tribune. 8 Oct. 2009. 15 Feb. 2012 http://www.tribune242.com/10082009_Invest_business_Page1-4 Hartnell Neil. â€Å"Foreign Investment Rises 49% To $977M.† The Tribune. 28 July. 2011. 15 Feb. 2012 http://www.tribune242.com/business/07282011_Invest_business_Page1-2 â€Å"Juveniles accused of crimes jumped 79% in 09.† 6 May. 2010. 19 Feb. 2012 http://www.bahamaslocal.com/newsitem/1839/Juveniles_accused_of_crimes_jumped_79_in_09.html Komolafe Arinthia. â€Å"The Bahamian Dream Pt.1.† The Nassau Guardian. 20 Jan. 2012. 15 Feb 2012 http://www.thenassauguardian.com/index.php?option=com_contentview=articleid=22023:the-bahamian-dream-pt1catid=49:op-edItemid=86 Sriskandarajah Dhananjayan. â€Å"Reassessing the Impacts of Brain Drain on Developing Countries.† Migration Information Source. Aug. 2005. 17 Feb. 2012 http://www.migrationinformation.org/Feature/display.cfm?ID=324

Matthew Barney: Artist Biography

Matthew Barney: Artist Biography The mythological world of Matthew Barney Matthew Barney was born on 25th March 1967, in San Francisco, California. He attended school in Boise, Idaho from 1973 to 1985. He was brought up between Idaho and New York and first encountered on visits to his mother. He went to Yale University, New Haven where he enrolled to study medicine but transferred to study Fine Art. After graduating from Yale in 1989, he made a swift impact on the art world. He has had exhibitions in San Francisco and London. He is based in the Guggenheim Museum in New York. While attending Yale he paid his way through college by modelling while studying medicine. After a couple of semesters, he transferred to the art department where his abstracts became popular. It was here that Barney began to experiment with Vaseline as a creative medium. From bursting into the art world in 1991, Barney has been able to create a distinguishing world from using multimedia, sculpture, photography, film and drawing. His work following careful study in process and the evolution of form has been informed by the human body, art history, cultural production and biological development. Early in his career he worked with sculpture fused with video and performance. His work reflects on his past as a gridiron footballer and a wrestler as well as the study of the human form and the work of many of his contemporary artists. Some of his earliest work in Yale was staged in the University’s sports complex. He is most famous for his work as producer and creator of the Cremaster (1994 – 2002) films – five visually excessive works which have been created out of sequence. Barney features in the films in a countless roles with some being as diverse as a magician, a ram, a satyr, Harry Houdini and infamous murderer – Gary Gilmore. Not only have his films included himself but have also included artist Richard Serra, writer Norman Mailer, and actress Ursula Andress. His use of imagery, narrative and dialogue weaves a unique mythology. These films are seen as a self enclosed aesthetic system. Jonathan Bepler composed and arranged the films soundtracks. These are not just a series of films, also involved are photographs, sculptures, drawings and installations which the artist produces in combination with each film. The title Cremaster refers to the muscle that raises and lowers the male reproductive system according to temperature, external stimulation or fear. The films are a mixture of autobiography, mythology and history, his universe is connected and densely layered. The film consists of anatomical allusions, with the position of the reproductive organs during the embryonic process of sexual differentiation. Cremaster 1 is the most ascended position while Cremaster 5 is the most descended. In Barney’s metaphorical universe these pieces represent a condition of pure potentiality. Over the eight years of production, Barney looked beyond biology as a way to explore form creation and took his universe to new levels and other realms indulging in biography, mythology and geology. Cremaster Cycle director/artist Matthew Barney. Matthew Barney, CREMASTER 3, 2002 Prodution Photograph,  © 2002 Matthew Barney Photo: Chris Winget, Courtesy: Barbara Gladstone Cremaster 3 was the final film in the series. It was the most elaborate of the five films. It referenced Barney’s position in the art world. This final film is set on location at Fingal’s Caves in Scotland and Giant’s Causeway in Northern Ireland. Both of these locations are symbolic. They resemble each other and are entrenched in deep mythology. These films have depicted a parallel mythological world, with rich and complex symbolism. It delves into the dilemmas and traumas that shape today’s society. This was Barney’s ambitious project which took a decade to make. It was packed with references to pagan mythology, modern architecture, popular culture, human biology and art history. The Cremaster Cycle has earned Barney much praise despite its notorious scenes of solipsism and banal masculine trials. It is a highly ambiguous piece. The Drawing Restraint series began in 1997 as a series of studio experiments, which draws upon an athletic model of development in which growth occurs only through restraint. When the muscle encounters a resistance, it breaks down and becomes engorged, but through healing the muscle becomes stronger. This series is well documented through video and photography especially 1 – 6 (1987 – 1989). Drawing Restraint 7 is marked with narrative. His concept lies in three elements – situation, condition and production. These constitute the origins of Drawing Restraint. They are illustrated in highly intricatecreative process of sexual energy divided into the three elements. This series was inspired by the condition of hypertrophy where the muscles of the body develop strength and size when they are placed under restraint. Barney has turned this from artistic production that investigates restraint as a source of creativity. It was in the project Drawing Restraint 9, a feature length film whose song track was composed by Bjork which consisted of sculptures, photographs and drawings which built upon the Shinto religion and on whaling. There are sixteen of these pieces. It’s as if his work is meant to shock. He art is a form of abstract and surrealism, with the use of aesthetic athleticism which underscores the sports iconography which is evident in his work. Through his work the audience can see his icons and who he idolizes in a cult status – Harry Houdini and Jim Otto and the system which he uses to portray these idols. He portrays them as satyrs, with athletic iconography, medical gadgets, mythological creatures etc. It leaves the audience wondering where he gets his ideas from. Once of Barney’s influences seems to be the work of Antonin Artaud and his ‘Theatre of Cruelty’ as it tends to stage events rather than men. When he broke onto the scene with his surreal sculptures and videos and form of art he was instantly successful. He is a phenomenon of his time and from his breakthrough his art has gotten strange and stranger. His is seen as the most important American artist of his generation. His unique production of films, which he also appears in, houses his sculptures and objects which he has designed especially for the use in his films. His ideas come from a host of sources – books and photographs. His work is not regarded by him or others as subsidiary to any others, they are an expression of him in different forms of the same ideas. Barney’s work is very ambiguous and it is best to accept it this way as this is his basic point. If the art is unresolved it is interesting. In the Cremaster series, he has stated that this idea is as a sexual metaphor, that the characters in his films can not be identified as being either male or female. He considers his work as abstract. He has been seen as a bad, late surrealist or because of the nature of his work as a sensationalist and that some of his critics are upset by the scope of his success. His success mirrors the success of Jasper Jones who made his debut some 40 years ago. After graduating from Yale, the word had begun to circulate about him around influential artists, dealers, editors and critics in New York. In the early 1990’s he was taken on by two galleries – Barbara Gladstone in New York and Stuart Regen in Los Angeles. At this point he was a huge phenomenon and he had not even had a solo show yet. By his absence he was present on the art scene, which is his trademark. His work was more accepted due to bad economic times as the galleries where more willing to take a risk on an artist without a track record than they had been in more prosperous times. It was through this that Barney’s work became marketable as well as his Yale connections. His early art work reflects the use of elaborate sexual and biological references and allusions to the world of fashion and sports with obvious links to those who went before him in the 1960’s and 1970’s the likes of Vito Acconci, Chris Burden and Bruce Nauman. His reviews seemed orchestrated because they were so good. Any bad reviews which he received were dismissive, like those of Hilton Kramer and through these reviews only heightened his profile. In the early 1990’s the art scene had become about conceptual art on identity politics and the body and sex which was visually meager. The peak was reached with Whitney Bienneal in 1993 and with this it seemed that the art work was doing a penance for all the excesses of the 1980’s. Critics had professed that he was a video version of Mapplethorpe and gay artists openly joked that he was the most successful young gay artist who was not gay. Barney’s idea of art is obviously meant to make the audience la ugh, it has its own strange sense of glamour and it is definitely not preachy. Formally his work was in tune with the younger generation’s priorities, where cross media and installations replaced painting as the dominant art form. His films instantly became collectables, as this medium was not traditionally used but with the advent of this technology it became hot property. This video art was making a comeback with performance art – two of his art forms, from the 1970’s when low technology videos had been used to record artist’s performance. The early 1990’s saw conceptual art be enabled by the technology which was now available and became about the story which the artist felt they had to tell. It was about gender identity and diversity politics and the more eccentric the art/ story the better. Barney’s work mirrored this image, his stories were plentiful and were all eccentric. He has even been referred to as the Wagner of the art world, as like Wagner, he has operated in a mythological language which has seemed irrational and his plan for the Cremaster series would take years to complete. His works are lavishlessly wordless, with soundtracks composed by Jonathan Bepler. They are very slow moving films with fantastic desolate settings. As the series progressed they became more visual with more saturated colours and costumes. His budgets were constantly growing but seemed non existent. He earns back the costs of his films through the limited editions of his photographs, sculptures and laserdiscs. He has, of course, sold his work through private buyers but it is the big museums which compete for his work and through this he has become somewhat of a cult figure. In the 1990’s he was American art star. He does not have any social ambition, public profile or interest in money which seems to enhance his allure. He feels that the bad reviews are more memorable to him than the good ones. He insists that he pays no attention to the critics and insists that his primary focus for art is as a sculptor and that his films reflect this. He is increasingly focused on the visual effects such as colours, shapes, and forms. He is ultimately the most important artist of his generation, in America at least, and as the audience have experienced his imagination is so big. His art is intensely visual and makes use of visual imagery. His works – performance works, sculpture and cinematic works are portraying a civilisation which is in decline. His work is full of references to freemasonry. His works are loaded with initiations and is full of symbolism. He has been proclaimed as the pioneer and saviour of video art and his work is most successful in the genre of body and performance art. He seamlessly creates dramas which are compelling with a compulsive force that are alive in a zone between the psychological and physical. He has a clear mythological vision which can be seen in his work. His practice is that of a diverse array including use of media, which includes performance art, sculpture, drawing, photography and i nstallation. He uses a varied variety of both traditional and unconventional set of materials to create this innovative work. His sculptures are the reinterpretations of his film themes for the gallery setting. Art critic, Jerry Saltz wrote of Barney: ‘One of the most interesting artists to emerge in the 1990’s, and hands-down†¦the most interesting when it comes to the way he works with video.’ Barney tries to establish narratives in which both characters and the environment are interchangeable and with the use of symbols he conveys the meaning or feelings. Matthew Barney has also been compared to the avant garde and this concept of the artist avant garde has been widely used in theories about modern art. This is a key component of modern art and has become synonymous. The terms of artistic freedom throughout the nineteenth and twentieth century through a succession of objects and practices. The modernist sense of avant garde has implied that art does not require external justification, whether it be political or ethical. Modern art critics have claimed that Barney is an advocate and paid up member of the present avant garde movement as well as being an important influence of modern art. His work definitely confirms the existence of a modern avant garde movement which he has followed on from the works of Clement Greenberg, Meyer Shapiro, Walter Benjamin and Thomas Crow. This avant garde movement emerged in the 1930’s in art but also in early socialist tradition. Once this tradition was established, work such as Barney’s has been more readily placed at the forefront of the movement. Thomas Krens, director of the Solomon R. Guggenheim Foundation has acknowledged that from Barney’s first gallery show in 1991 he has developed a uniquely aesthetic vocabulary. Barney draws his ideas from all walks, from Hollywood movies, professional sports, mythology, medical processes, biological systems, and psychological pathologies. He has also drawn from hardcore music and spiritual tendencies and mixed them all to provide a blend of allusive narrative structures which he uses the media of film, sculpture, photography and drawing to articulate to his audience. He has been recognised in the artistic community as a great American artist whose work has attracted a vast audience both nationally and internationally. Matthew Barney matches all the cri teria for being of the avant garde persuasion which is active in the present art culture. David Hopkins, in his book After Modern Art 1945 -2000 recognises Barney’s work as interpretation that could be a parody of masculine aspirations. When Barney began to create his art it was widely recognised that there had been a crisis of masculinity which was tied to the social shift which arose from the empowerment of woman in the 1990’s. There were also the issues regarding cloning and genetic engineering. Hans-Ulrich Obrist, a contributing editor of the Tate Magazine described Barney’s work as ‘dense, compacted and multi-layered.’ Obrist is interested that the Cremaster series reaches back to a time of mythology, biology and the geology of creation while jumping forward to a time of modified genetics and the mutation of identity. Culture attempts to articulate changes but finds it hard to keep pace with the changing culture. Barney is on a journey alone in his efforts to build his parallel mythological world which probes into the traumas and dilemmas experienced in modern society. Barney in an interview with Scott Foundas spoke of his desire to communicate the tension within our culture between the male and female forms and the wavering between the sexes. Barney is interested in creating a field that attempts to locate desire and eroticism in an undifferentiated way. His work aims to challenge the grounded notions of gender through making a critique of society as a whole and the insistence of society to only view gender through binary opposition. The Guggenheim Museum in New York continues to exhibit young upcoming artist’s work while their careers are still young. Barney began his relationship with the Guggenheim Museum in 1996 when he was awarded the museum’s Hugo Boss award for excellence and innovation in the visual arts. But it was five years earlier that his status was declared as great. He was honoured with a solo exhibition at the San Francisco Museum of Modern Art. Matthew Barney’s innovative work has been recognised by the contemporary art world and has won many accolades but despite these his work remains difficult to understand especially by the mainstream. And it seems to be only accessible to a subculture of artists and his supporters. Without these members he would never have received the attention or acclaim for his work. Barney once said in an interview with Michael Kimmelman (1999) Barney said ‘Art needs to be defended.’ And also ‘It’s fragile. If a work of art is shown too many times, something gets stolen from it. You come to it with preconceptions, or you get tired of it.’ Barney feels that when something becomes an image it is unrecognisable and because they are invested in the subject they cannot operate as an image. He is also worried about his work losing it authenticity due to issues of reproducing the images. Barney is able to draw his themes from issues which are relevant to modern society. Barney meets the criteria of the avant garde group in that he challenges the social conventions, he is an active member of a cohesive group, he maintains an authentic quality despite reproductions and he serves as a social mediator between social classes with drawing from themes of everyday life. His works, therefore, shows evidence that an avant garde does exist in modern and cotemporary culture and this work still remains a motivator for social advancement. Barney redefines the boundaries between the artist and the audience as he focuses on the broader theories of his medium. With his work, he is able to compartmentalise strategically the creative process w hich he then exploits the experience into one giant spectacular. He forges the different media together to create his tangible and imaginary worlds. Barney’s singular vision has created works which fuses performance and video with sculptural installations. The audience can see reflections of Barney’s past i.e. athletics but is able to tune into the new politics of the body which are evident in the work of many of the contemporary artists. His careful exploration of the body draws upon the athletic model of development which only occurs through restraint. Damien Hirst has been acknowledged as one of Matthew Barney’s contemporaries. Hirst was born in Bristol, UK in 1965 and now lives and works in London and Devon. He is the most prominent member of a group known as ‘Young British Artists’ (YBA’s). He has been dominant in the British art scene since the 1990’s and is internationally renowned. His career was closely linked to collector Charles Saatchi in the 1990’s but due to increasing frictions this relationship collapsed in 2003. Hirst was an organiser and organised an independent student exhibition while in his second at Goldsmith’s College in London where he studied Fine Art. Hirst has since admitted that he had drink and drug related problem which spanned a ten year period from the early 1990’s, during this time he was famous for his wild behaviour and extrovert acts. Hirst, too, has tried to challenge the boundaries between art, science and popular culture. He, like Barney, has a wide ranging practice of using sculptures, installations, painting and drawing. He has been praised for his work, his energy and his inventiveness. His work has made him a leading artist of his generation through his constantly visceral and visually arresting work. His work consists of the exploration of the uncertainty at the core of human experience, life, death, love, loyalty and betrayal. Hirst is best known for his work Natural History which features animals in vitrines suspended in formaldehyde. Hirst uses the vitrines to put meaning as both a window and a barrier, providing a minimalist frame but also to attract the attention of the audience. Hirst is also renowned for his paintings which includes his Butterfly Paintings which feature actual butterflies suspended in paint. Tracey Emin compared Hirst to Andy Warhol, in the mid 1990’s Virginia Bottomley descr ibed him as a pioneer of British art. Hirst sees the real creative theme as being the conception of the project not the execution. Death is a central theme in Hirst’s work and he became famous for a series in which dead animals a shark, a cow and a sheep, are preserved after sometimes been dissected in formaldehyde. The Physical Impossibility of Death in Mind of Someone Living. This piece became an iconic work of the British art world and its sale in 2004 made him the world’s second most expensive living artist after Jasper Jones. He has since eclipsed Jones when Lullaby Spring sold for  £9.65 million on 2007. Hirst has been a controversial figure not only through his art work but also on the public stage, on the eve of the first anniversary of the World Trade Centre attacks, he commented to BBC News Online (Allison, 2002): ‘ The thing about 9/11 is that it’s kind of like an artwork in it’s own right†¦Of course, it’s visually stunning and you’ve got to hand it to them on some level because they have achieved something which nobody could have ever thought possible – especially to a country as big as America. So on one level they kind of need congratulating, which a lot of people shy away from, which is a very dangerous thing.’ Following public outrage at his remark, he had to issue a statement through his company, Science Ltd (Science Photo Library Press Release, 15th March 2005): ‘I apologise unreservedly for an upset I have caused, particularly to the families of the victims of the events on that terrible day.’ In comparison, both Barney and Hirst are contemporaries in the modern art world. They are both renowned in their field. They are both out to shock and maybe this is not their intention. Barney through his use of mythological imagery and his use of the human form has been criticised but are these criticisms right. Can an artist not express themselves in this way? It seems that modern art is full of debate with regards to style and appreciation. There is plenty of shock value in both Barney’s and Hirst’s work. Critics have asked if the audience needs to see the imagery these two have produced. Barney’s work Cremaster is full of this imagery and it is based for a specific audience. He is trying to convey in his imagery the use of the body and how unstable the relationship between male and female is. He has both been praised and criticised for his work, Hirst has also been criticised for his work. It seems that the only way to grow within the art world is to prompt discussion and criticism. Both of these men are at the top of their profession through getting acclaim and winning various awards and prizes. They both use the abstract to create a surreal and almost sensationalist image. While Hirst is very public, Barney stays in the background with no public profile to speak of. Bibliography Allison, R., (2002) 9/11 wicked but a work of art, says Damien Hirst, The Guardian, 11th September 2002 Artaud, A., (1958) The Theatre of Cruelty in The Theatre and its Double, trans. Richards, M.C., Grove Press Crow, T., (1996) Modernism and Mass Culture in the Visual Arts, Yale University Press Edwards, Steve. Art and Its Histories: A Reader. New Haven: Yale University Press,  1999. Foundas, S., (2003) Self Portraiture Meets Mythology: Matthew Barney Talks about his Cremaster Cycle, IndieWire on the Web Hopkins, D., (2000) After Modern Art: 1945 – 2000, Oxford University Press Kimmelman, M., (1999) The Importance of Matthew Barney, New York Times. 10th October 1999 Obrist, H., (2006) Artist Project: Matthew Barney, Tate Magazine: Issue 2. 15th February 2006 Science Photo Library Press Release, 15 March 2005

Japans Economic Development :: essays research papers fc

JAPAN'S ECONOMIC DEVELOPMENT In the following paper I will be examining the process of economic development in Japan. I begin with their history in the Meiji period and how that effected their great success in the postwar development. Then I will go through the different economic stages of economic development in postwar Japan. I will examine the high periods and low period in Japan economics, and the factors behind these shifts in development. Last I will give a conclusion and where I believe Japan economy will be in the future. To understand Japan economic boom after the war you must also look at there history. Without the creation of the industrial economy during the Meiji Japan this economic growth after postwar could have not happened. To look even closer lets examine the period before called the Tokugawa period, from 1630's until the 1860's. Smith explains that "during this period Japanese economy experienced unparalleled growth and structural change" (Smith, Page 4). The system was set up on rules and obligations on all sections of society. These systems of control helped rapid urbanization. Education is also a factor in the economic development in Tokugawa period. Tokugawa Japan abapted Confucianism belief system from there neighbors China. This became important because "one of the distinctive traits of Confucianism was reverence for education and learning" (Smith, Page 5). This spread of education was dramatic. Not Macdonnell, 2 Only did the knowledge seep the upper class (such as the samurai and merchants) but in order to expand business it filtrates down to the peasants and artisans also. During this period up to forty percent of boys and ten percent of girls were educated by the 1850's. These are great numbers compared to other societies. The Tokugawa period in turn developed an economy familiar to bureaucratic direction and directed by the well-educated people stated Dennis Smith. In 1869 the Tokugawa shogunta was bought down and Meiji restoration began. Japan was under great change. Meiji Japan began to industrialize. This was due to the western countries that have already industrialized. It was through private investment and enterprise that Japan began this process. The backbone of industrialization was the zaibatsu. Zaibatsu were industrial and financial conglomerates. They were given government support including benefits from government subsidies and sell-off of government factories. The first of these zaibatsu were Mitsui, Mitsubishi, Sumitomo, and Yasuda. Growth of industrialization began slowly. In the beginning they still depended largely on United States and Europe for most specialized and worldly machinery and manufactured goods.

Graduation Speech: Sit Down and Shut Up :: Graduation Speech, Commencement Address

Hi everyone, and congratulations to all the seniors for successfully completing the first phase of your life. We are all now independent and must look to the future. Everyone will go their separate ways, whether that be attending college, getting a job or traveling the world. While the members of our senior class may be taking drastically different paths, one goal is common to us all. That goal is to achieve success. There is not a person graduating today who does not want to succeed in the rest of their life, at least I hope not. So we all want to succeed, but what is success? Some people look for success and happiness by achieving great things in their careers. Others look for it by amassing material wealth and money, finding the best-looking partner or gaining power and recognition. Still others attempt to gain a sense of happiness and well being by going to the best parties and living wildly. While these things might seem to be good, fun or rewarding at first, those feelings will always be temporary and leave you feeling dissatisfied. Picture this, two old men are lying in a hospital within hours of death. One man is a multi-millionaire and once seemed to be very successful in life. He lived the high life and got whatever he wanted, but now he has no family or friends with him in his final moments and he is scared to death of dying. The second man is not rich, but he was always kind and lived a life of integrity. Loved ones and friends surround him, and he faces death with no fear, since he is right with God and his eternal future is secure. While the first man might have seemed better off from outward appearances, it was the second one who experienced true happiness and success. In order for us to live life to the fullest, we must force ourselves to change our priorities. While it is natural to be selfish and put oneself first, true joy and love will be found only when God and others are treated more importantly than oneself.

Business Ethics Essay -- Philosophy Morality Papers

Business Ethics Business ethics is a multifaceted field that cannot be defined with a single definition. This area addresses numerous issues, problems, and dilemmas within the management of businesses. It does this through numerous perspectives and methods. Of course, in order to present the complexities of business ethics, we must explore the types of issues that business professionals are confronted with all the time. Business ethics not only portray to humans, but also to how businesses treat the environment. My father stated to me that the enterprise in which he is engaged in, and the products or services that they market, should serve an inherently ethical purpose and that a companies primary ethical responsibilities are defined by the nature of their objectives and also of the relations when formulating their company's ethical standards. This usually requires statements of corporate responsibilities. Most of the codes describe the company's commitment toward certain groups rather than prescribing ethical conduct for specific situations. His responsibility is not only to our stockholders, but also to our clients, the other employees and their families, our local community residents, and all of society at large. Our profit comes about through our effort to promote the prosperity of the community as a whole. Does your company take advantage of clients, due to the fact that they have money? In some ways they do for the fact that we will quote a price to have the complete seal designed and manufactured to a client. The actual cost and materials it takes to make the seals is a lot less than they are charging. I mean that one rubber mold can make two seals and yet we charge them for one seal and then use the excess to make ... ...y's Americans have a belief that they have set for themselves and for the rest of the world a high example of individual freedom. Americans became a nation with the understanding that government action should not restrict the freedom of individuals to follow their own consciences. Employees are the first to know if something within an organization is not legally or ethically right. Unfortunately they are also the last to speak out about such problems. Know body wants to be a whistle blower on the very company that they are working for. Each corporation should provide an employee bill of rights as well as a system of appeals to guarantee these rights and as a condition of employment, workers at every level should be allowed to voice their concerns about the company's activities or policies. They should also be afforded a fair hearing in order to voice these concerns.