Round-Trip Copper Reactions Lab Report

AP Chemistry 12/13/11 Round-Trip Copper Reactions Lab The purpose of this lab was to evaluate our skills of decanting a supernatant liquid without losing the solid and successful completion of a series of reactions. This was done through five chemical reactions involving copper. In this lab, elemental copper was put through five different chemical reactions in order to convert it into different compounds. By the end of the fifth reaction, the copper was back to its elemental state. In the first reaction, 0. 95 g of pure copper was reacted with 4. 0 mL of concentrated nitric acid under the fume hood. The solution was swirled until all of the copper had dissolved. The balanced equation for this reaction is as follows: Cu (s) + 4HNO3 (aq) a Cu(NO3)2 (aq) + 2NO2 (g) + 2H2O (l) When the nitric acid came into contact with the solid copper, a brown gas was immediately released into the fume hood. This brown gas was nitrogen dioxide as the balanced equation above shows. As the copper dissolved, the solution slowly turned blue because of the copper ions. In the second reaction, distilled water was added to the copper (II) nitrate solution until the beaker was half full. Then, 30 mL of 3. M sodium hydroxide was added to the solution. The balanced equation for this reaction is as follows: Cu(NO3)2 (aq) + 2NaOH (aq) a Cu(OH)2 (s) + 2NaNO3 (aq) When sodium hydroxide was added to the copper (II) nitrate solution, a bright blue gel-like precipitate was formed instantly. This precipitate was copper (II) hydroxide. The precipitate was blue because of the copper ions. In the third reaction, the c opper (II) hydroxide solution was heated above a Bunsen burner. Continual stirring was required to reduce the â€Å"bumping†, or formation of bubbles that release gas very quickly that have the potential to cause injury. The balanced equation for this reaction is as follows: Cu(OH)2 (s) a CuO (s) + H2O (l) When the solution was heated, the bright blue precipitate slowly began to darken, at first by showing flakes of black, then eventually turning completely black. This is due to the copper reacting with oxygen, or oxidizing. The black precipitate was allowed to settle and then the supernatant, the clear liquid that lies above a precipitate, was decanted, or poured carefully off. Then, 200 mL of hot distilled water was added and the precipitate was allowed to settle to repeat the decanting process again. In the fourth reaction, 15 mL of 6. 0 M sulfuric acid was added to the copper (II) oxide while stirring. The balanced equation for this reaction is as follows: CuO (s) + H2SO4 (aq) a CuSO4 (aq) + H2O (l) + SO2 (g) When the sulfuric acid was added to copper (II) oxide, the solution turned blue. This was due to the formation of aqueous copper (II) sulfate, which produced the copper ions to change the color of the solution. In the fifth reaction, 2. 29 g of zinc was added to the copper (II) sulfate solution under the fume hood. The balanced equation for this reaction is written as followed: Zn (s) + CuSO4 (aq) a ZnSO4 (aq) + Cu (s) When the zinc was added to the copper (II) sulfate solution, the solution started to bubble. As the solution was stirred, it turned a cloudy blue. Small flecks of a brown solid were visible. As the solution became colorless, the brown solid settled to the bottom of the beaker. The solid formed was copper in its elemental state. The color faded from the solution as the copper ions slowly formed into solid copper. The copper was poured into a funnel with filter paper and washed three times with 25 mL of distilled water and ethanol. In order to dry the copper, it was placed on a watch glass weighing 29. 91 g over a beaker half full of water on a hot plate. One the copper appeared to be dry, the beaker was removed from the hot plate and allowed to cool. The copper was massed on the watch glass and was recorded as 30. 79 g. This was left to sit overnight and was massed again the next and recorded as 30. 77 g. By subtracting the mass of the watch glass from the final mass of the copper and watch glass, the mass of the copper was obtained and recorded as 0. 86 g. In conclusion, the percent yield of copper from the original copper was calculated to be 90. % by the formula: actual x 100 = percent yield theoretical 0. 86 g x 100 = 90. 5% 0. 95 g In theory, the amount of copper at the end of the lab should have been the same amount that was started out with. Due to decanting and changing containers, some of the mass was lost. The calculated percent yield above is fairly accurate considering that some of the mass was los t during decanting and transferring the copper from the filter paper onto the watch glass.

Explication Essay: Paradise Lost

Paige Gardner Julia Naviaux ENG 230: 003 February 1, 2013 Explication Essay: Paradise Lost- Lines 80-134 The debate of free will versus predestination is a very common, prevalent topic in any Q&A session or even religious sermon. The controversial issue of whether God has predestined His people for salvation or if God has given people the freedom in making their independent choice to do so is a question theologians will never solve. Many church congregations have lost members due to the church’s opinion on this topic.John Milton, English poet, used his epic poem Paradise Lost to present the story of the Fall of Adam and Eve in a way people of his time, seventeenth century, had never been exposed to. Throughout the story, we are enthralled with the revengeful attributes of Satan and the loving, forgiving, and even punishable attributes of God. Milton doesn’t present the character God until Book 3. In lines 80-134, Milton presents his audience with the idea of predestinat ion and free will from God’s own point of view through a conversation between his characters: God and the Son.God expresses to His son the difference of knowing what will happen and predestining what will happen. In Paradise Lost, Milton uses the literary elements of repetition and sentence structure to reveal the truth of free will to his readers. Milton uses repetition to demonstrate to his readers the difference between knowing what will happen versus having a predetermined, influential stance on something. Milton uses the possessive pronoun ‘their’ to stress the importance on the matter of the people possessing something or something being a part of their possessions.For example, â€Å"their maker, or their making, or their fate† illustrates this concept in the epic poem (Milton, Book III, line 113). Here, Milton expresses how if people have free will they can no longer claim these things because they are a part of the human race and therefore possess human nature. From this, people have a maker who made them into the people they are today. Therefore, people are made with free will and cannot blame their maker for their own fate because people do not determine it alone. These three facets, in a way, intertwine with one another.People cannot blame one without the other two or vice versa. People’s fate is part of their making and people’s making is part of their maker, hence the possessive pronoun ‘their’. Milton says predestination â€Å"over-rul’d their will† (Milton, Book III, lines 114-115). Now the freedom is taken away. Everything is already determined and no choices will need to be made. In lines 116-118, Milton gives his returning argument against predestination by saying, â€Å"they themselves decreed their own revolt, not I: if I foreknew, foreknowledge had no influence on their fault†.Milton states here his stance on free will. God may know what will happen, but he is not i nfluencing people’s decisions. He allows people to make them on our own. As well as repetition, Milton also uses sentence structure to relay to the readers the theme of his epic poem. In book III, lines 129-134, Milton uses three different colons in one sentence to make the reader realize that one point leads to the next. Colons in grammar are used to demonstrate lists.Milton does this by stating, â€Å"The first sort by their own suggestion fell, self-tempted, self-depraved: Man falls deceived by the other first: Man therefore shall find grace, the other none: in mercy and justice both, through Heaven and Earth, so shall my glory excel, but Mercy first and last shall brightest shine. †. Milton concludes this conversation between God and the Son with these lines. Milton utilizes the colons to express that these events would not happen without the preceding event occurring. Without sin or impurity, mankind is in no need of grace or mercy. Through these imperfections, th e Lord is praised by his people.Humans are corrupt as people and tempted by each other. Satan, in the Garden of Eden, tempted Eve and Eve tempted Adam; mankind was self-tempted. Man fell because of his fellow man. Through mercy and grace, the Lord is glorified and his mercy outshines everything. By God offering his grace and mercy to mankind, He reveals His giving nature. He is offering mankind grace and mercy to be saved, but He not forcing it upon them. Through the free will God gave us, people can worship him with sincerity and genuine love. Sincerity people would not have if he predestined them. Milton is driving this point home in this section of his epic poem.God’s love and mercy is everlasting, and Milton says it will prevail through everything. The debate between free will and predestination will always be present. Regardless how many theologians research it and search scriptures for answers, this debate will always exist. There are some things the Lord does not revea l to His people so they are able to step out in faith and trust in Him. By using repetition and sentence structure, Milton expresses the view of free will from God’s perspective. Through Paradise Lost, Milton shows us a glimpse of what the wonderful Gospel of Christ truly is.

Pleaes .Require ....Paraphrase..rewrttin...Reflection 300 word Essay - 1

Pleaes .Require ....Paraphrase..rewrttin...Reflection 300 word - Essay Example I was a bit sad to realize that it was the same I had leant in the Diploma. There was hardly any thing new in the first two weeks. Soon after that, the lab work began and we started doing tutorials. Although I have already had some practical experience with patients, yet it was a nice opportunity to learn the theory of my practice regarding interaction with the patients and their care in general. In the lab work, we were taught how to make the patient feel better with the minimum dose of radiation. In addition to that, I learned to work in a team and to reflect upon my experiences. I believe that the skill to reflect is essential for success in practical life. Concluding, I would say that I gained a lot in the first semester, and it was undoubtedly, a nice start for the degree. I particularly realized that in order to improve as a professional, we have to keep studying further. There is no ultimate destination of knowledge. In order to keep ourselves updated on latest information, we should keep in touch with the evolving literature.

Prince Hall Essay Example | Topics and Well Written Essays - 250 words

Prince Hall - Essay Example (Alexander & Rucker 243). Yet, in 1791, through the help of the British order, Hall became North America’s provincial grand master. Through his acquired power, Hall started to approve African American lodges in other cities in the U.S., like Providence, Philadelphia, and New York (Alexander & Rucker 243). The Prince Hall Masonic organizations tried to enhance community, interpersonal, and personal abilities, and to uphold charity, open-mindedness, and promote the wellbeing of all. Immediately after gaining his freedom, Hall had become a militant and visionary almost soon after as he, together with others, lobbied the Massachusetts Colonial Legislature, encouraging them to abolish slavery in the state. Hall passed away in 1807 and by that time African Masonic groups were spread all over cities in the Midwest and the Northeast, and numerous strong organizations were formed in the Upper South (Alexander & Rucker 243-4). Numerous black lodges were informally called Prince Hall organizations throughout Hall’s

Fundamentals of Managing People Essay Example | Topics and Well Written Essays - 2000 words

Fundamentals of Managing People - Essay Example Wages, Training, safety, diversity, work-life balance as well as health and wellness are some of the core employee priorities. When these are fulfilled, quality output is guaranteed. Additionally, when this delicate balance is attained, employees are able to foster team spirit among themselves as well as loyalty to their employees. Employers on the other hand will experience lower employee turnover rates which eventually lead to reduced profits (Hall, 2003:46). Work life balance is an essential part of the puzzle because every employee has a family and friends outside the employment scope. Many an employee has left their jobs because it does not adequately cater for this particular need. Changed Employee Priorities A decade or so ago, the highest priority for most employees was developing their careers. Today, the tips of the scale have changed. Most employees are more interested in having both a family and a good career and most would leave a job owing to reasons related to work lif e balance (Palundi, 2012:77). It is essential for one to pursue achievement and joy in not only the job but also in one’s personal sphere. Enjoyment in this case means pride, celebration, happiness, a general sense of well being and satisfaction in the job that they do. This has in turn led various companies in the globe to offer competitive packages that offer flexible practices concerning work-life practices. Paid work and family care are the most essential elements of work family balance. However, work-life also includes education, volunteering and recreation. Work-life allows employees to share their time with both the job and their family and still produce quality results. Employers need to understand that work-life balance is important to the employee. However, the employee also has a role to play in ensuring that his needs are met so that his productivity is optimal. It is the employee’s chief responsibility to ensure that he congratulates himself on work well d one and keeps motivating himself (Hall, 2003:79). In addition, it is up to him to give himself a break when he deserves one. He also needs to set boundaries between his professional and personal lives. The management and the employees have to agree on a program that will enhance a positive balance of the two. In a recent study, it was estimated that in every five employees, two are not satisfied with the balance between their private lives and the professional ones. Long working hours, long commutes, increased pressure at work, changing demographics and the deterioration of boundaries between work and life are some of the contributing factors to the dissatisfaction. Employers who ignore this vital element in their employees’ lives will experience high turnover rates, unhappy employees as well as low morale. All employees need to realize that their employees are more interested in assistance programs to better their loves holistically more that monetary compensation (Marchingt on and Wilkinson, 2005:135) It goes without saying there it is not possibly to achieve a perfect balance between work and life. Once cannot be able to schedule equal number of hours to all the many aspects of work and life (Beauregard, 2009:83). Trying to do this will frustrate the employee since it will end up being both unrealistic as well as unrewarding. Additionally, it is worth noting that the balance will keep varying as time progresses, even as little as on an everyday basis. For example, the balance that used

Movies Assignment Example | Topics and Well Written Essays - 250 words - 1

Movies - Assignment Example The words further make the intention of the marketer controversial as they, one way of the other, promote and highlight supremacy and reign of White over the Black (Stuart, 2006). After watching this advertisement, the general perception I drew about the Whites was somewhat grand and physically powerful while the image of Blacks went down to slavery that was ever associated with them. Although it is an advertisement of gaming consoles, the idea about the racial differences remain an important part of this billboard advertisement making it questionable and unacceptable for many viewers. In my opinion, the advertisement is disrespectful to one race and provides a hidden meaning of superiority of Whites over the Blacks that remain discriminatory in its true essence. If someone was to learn about racial dynamics in the U.S. purely through this ad, he/she might think of blacks as socially lower class and disrespected people and Whites as dominant and powerful who may control

Tweeter Home Entertainment Group Research Paper - 1

Tweeter Home Entertainment Group - Research Paper Example Empowerment comes in different forms, including financial and non-financial incentives for employees, among others.   DeHoratius Nicole and Raman Ananth conducted this case study on Tweeter Home Entertainment Group in the year 2007. These authors mainly focused on the influence store managers have on the sales of this company, with regard to incentive programs provided by the company to these managers. Tweeter Home Entertainment Group was a company located in New England. This was a retail company with various stores. Tweeter Home Entertainment Group specialized in the sale of different electronic products. These included audio electronic products, video electronic products, as well as electronic accessories such as camcorders. Most customers of this company were the high-income earners in society, who were the well-educated and prioritized quality of products (DeHoratius & Raman, 2007). The store managers in this company played an integral role. These were mainly tasked with ensuring that the company sales increase and the shrinkage level reduces. The store managers, therefore, employed various tactics in ensuring that they achieved this. These included consumer education and product promotion, as well as monitoring of financial issues and deviant consumer behaviors such as shoplifting in the company in order to keep an eye on shrinkage. Generally, store managers in this company were charged with many tasks, which required dedication and motivation for effective performance (DeHoratius & Raman, 2007).  Nonetheless, Tweeter Home Entertainment Group realized the importance of employee motivation, and therefore, provided different incentives to the store managers for their efforts. Store managers in Tweeter were allowed a low penalty on shrinkage, and rewarded differently for the sales they made, depending on their total sales.  

Assigment Assignment Example | Topics and Well Written Essays - 500 words - 5

Assigment - Assignment Example There are a number of criteria used to determine who will come first in the waiting list, which might help us solve the issue the doctor is faced with. The patients ability to pay for the organ is what is considered first. A heart is treated like a scarce commodity because it is hard to find and it is are also more valuable than anything else because of its ability to save someones life (Perry, 2013). A scarce commodity, which is vital for someone to continue living, is certainly not a luxury, thus the reason why the highest bidder is considered first. The second factor is the preference of the donor or kin. In short, this is who the heart donor decides will be the recipient of the heart (Perry, 2013). For example, a white racist might say that their heart should not be given to an African or a Muslim might say that their heart only goes to a fellow Muslim. The third factor is that the transplant might favor the donors religion or citizenship. This is done in support of the taxpayers money channeled to the endeavor (Perry, 2013). However, in the cases provided, the second and third factors might not apply because we are not told the religion or citizenship of the donor and we are also not told whether the donor had racist views. The fourth factor to be taken into consideration is the need of the patient (Perry, 2013). The need of the patient, the extent to which the transplant will help the patient, is also another vital factor. However, in most cases, it is the senior doctors who decide whether the patients need is that significant (Perry, 2013). Thus, in this case, the doctor might not be very influential in deciding which patient mostly needs to transplant. Apart from their needs, there are also the benefits to the recipients. They consider factors such as age, overall health, ability to obey the regimen or anti-rejection drugs and also the patients support system (Perry, 2013). These can apply in our case because some of the clients

Software for wireless devices Essay Example | Topics and Well Written Essays - 250 words

Software for wireless devices - Essay Example The software developers have to anticipate special requirements and design the system differently such as by re-designing the software program to deal with a limited memory, for example. The five major software components necessary in mobile computing include 1) mobile operating system such as Microsoft, Symbian, Linux, and other specialized operating systems, 2) a mobile application user interface which is the application logic in mobile devices to operate the various interface devices such as a mini-joystick, touch screen, thumb wheel, and jog dial, 3) the microbrowsers which are actually similar to standard Internet browsers but specially adapted to deal with the limitations in the memory, bandwidth, and smaller display screens of mobile devices, 4) the wireless application protocol or WAP which is the suite of network protocols to enable different kinds of wireless devices to access WAP-readable files on an Internet-connected Web server, and 5) various mark-up languages which is also an area that lacks a single uniform standard; examples of competing standards are wireless markup language (WML), the compact hypertext markup language (cHTML), and extensible hyper text markup language

Workplace bullying Essay Example for Free

Workplace bullying Essay Background of the study: Workplace bullying is a problem and is an important organizational and social concern. This study examined workplace bullying and its effect on job performance and productivity. The research showed how bullying behavior affects a target’s ability to perform their jobs, which can impact the morale of employees and the financial performances of an organization. Workplace bullying is difficult to identify and contain because the harassment usually takes place covertly, many times out of sight of supervisors and coworkers. The central findings of this study (a) showed the frequency of workplace bullying, (b) factors contribute to workplace bullying, (c) respondents perceive level of job perfromance, and (d) revealed a relationship between workplace bullying and its effect on job performance and productivity, (e) discover coping strategies of bully victims. A 2002 survey of 9,000 Canadian federal employees indicated that 42% of female and 15% of male employees reported being bullied in a 2-year period, resulting in more than $180 million in lost time and productivity (Canada Safety Council, 2002). According to Namie and Namie (2003), 82% of employees who had been bullied left their workplace: 38% for health reasons and 44% because they were victims of a low performance appraisal manipulated by a bullying supervisor to show them as incompetent. High turnover of employees can be costly for organizations. Human resource experts calculate the cost of losing and replacing a worker from 25% to 200% of annual compensation, depending on the level of the employee (Melone, 2006). The workplace presents opportunities for a wide range of insidious and intimidating bully tactics. Research indicates a relationship between employee perceptions of bullying and his or her need to spend time at work defending themselves, networking for support, contemplating the circumstances, becoming demotivated and stressed, and taking sick leave (Namie Namie; Needham, 2003; Rigby, 2002). Theoretical/Conceptual Framework: This paper applies Novak’s (1998) theory of learning to the problem of workplace bullying. Novak’s theory offers an understanding of how actions of bullying and responses to bullying can be seen as deriving from individualized conceptualizations of workplace bullying by those involved.  Further, Novak’s theory suggests that training involving Ausubel’s concept of meaningful learning (Ausubel Educational Theory 11(1): 15–25, 1961; Ausubel et al. 1978) which attends to learners’ pre-existing knowledge and allows for new meaning to be constructed regarding workplace bullying can lead to new actions related to workplace bullying. Ideally, these new actions can involve both a reduction in workplace bullying prevalence, and responses to workplace bullying which recognize and are informed by the negative consequences of this workplace dynamic. Second approach that we used is In â€Å"Harassment and Bullying at Work: a Review of the Scandinavian Approach† Einarsen (2000) presents three different causal models that have been used in Scandinavia, namely emphasizing personality traits of the exposed, general characteristics of human interaction in organizations and organizational climate. The first model explores characteristics of the victim and/or offender, and claims that some people are more in the risk zone of being bullied because of their personality. Certain personality traits, such as lower self-esteem, anxiety in social settings and suspiciousness, are claimed to be more common among victims of bullying. As for the offender authoritarian personalities that often react impulsively with aggressiveness, are examples of personality traits that have been discovered in this field of study. Different studies have brought out different traits so there is no confirmation of some traits being more valid than others. Furthermore â€Å"the issue of personality traits in relation to harassment at work is a controversial one, especially as far as the victim is concerned and the position on personality traits as precursors of harassment has been seriously questioned† (Einarsen, 2000:389). The second model is built on the observation that although conflict is a phenomenon found in all organizations, only in some cases interpersonal conflicts lead to battles where the goal is to demolish the other (Einarsen, 2000). Since conflicts are seen as a natural component of organizations this model claims that there are certain human characteristics that are inherent and affects organizations. Some researcher even go as far as saying that harassment is an inherent human characteristic, and therefore believes that attempts to eliminate workplace bullying is useless. Another argument is that scapegoats play an important social role for the organizational climate and it brings other organizational members t ogether (Einarsen, 2000). It  should be noted that the scapegoats does not necessarily have to be an organizational member; it can be an external person or organization, or even an object. Both Leymann (1992) and Einarsen et al. (1994) argue that unresolved interpersonal conflicts threaten to end up in harassments. Whether harassment might be an inherent human characteristic is yet to be explored. A third possibility is that harassment is triggered aftermath from other organizational conflicts (Einarsen, 2000). The third model has received the most attention in Scandinavia, and it stresses the role that organizational factors and work conditions play, such as social environment, workload, or division of tasks. Workplace bullying in this model – is looked upon as caused by the organization itself, that is, by structural and other problems within the organization (Einarsen, 2000). Studies have shown that some factors may be more significant than others for the presence of bullying at work (2000). Leadership, role conflicts, and work control were brought out by Einarsen et al. (1994) to be contributing factors to workplace bullying. Other factors may still be important though, bullying might for example be more likely to occur if the jargon in the workplace in general is more aggressive. The approach of organizational work environment says that organizations with ill conditions might increase workplace bullying. It also suggests that workplace bullying is more likely to occur in particular 15 organizational settings (Einarsen, 2000). These three different models can alone be seen as narrow and one-sided, but Einarsen (2000) stresses the importance for future research to focus on sever al factors, both organizational and personal. Another way of understanding work place bullying is by using Gidden’s Structuration Theory to provide a basis for examining the social processes involved in the approaches adopted by organizations to manage workplace bullying. Giddens’ framework involves a series of stages, with the possibility of barriers between each of the stages. Within this theory strategies between the stages and tactics within the stages could be developed to address the problem of workplace bullying. In 1984, sociologist Giddens presented his theory of Structuration (Giddens, 1984). In simple terms his theory outlines the social processes involved in the evolution of aspects of society. A key component of his theory is the double hermeneutic  process, where people, upon reflection of day to day activities, are able to influence the structure of society by either reproducing current practices or by changing them. School and workplace bullying have a long history within our society and recent ideas have been advanced that challenge the appropriateness of such traditional behavior. Turner (1991) analyzed Giddens’ work and produced a diagrammatic model of his Theory of Structuration. The model with its 11 sensitizing concepts is illustrated in Figure 1. It is proposed in this study to use Turner’s model, which consists of inter-linked but discrete concepts, to provide a framework for illuminating how a social issue, such as workplace bullying, can be managed within an organization. To elucidate the study, below is a schematic diagram that shows how the information gathered is utilized: Figure 2 Conceptual Framework Figure 2 presents the conceptual framework for this study. The researchers believe that the factors contributing to work place bullying can affect the level of performance of such employee. Factors such as abuse of power, self-esteem, perceived threats and organizational culture may affect ones quality of work, productivity, and quality of family-work life. But the diagram also shows degree of coping strategies such as depression, physical injury, and self-expression. Statement of the Problem: This study aimed to investigate the effect of workplace bullying on employees job performance and their coping strategies in the random call center agents in Davao City. It specifically sought to answer the following questions. 1. What are the factors that contribute to workplace bullying in terms of: a. Power; b. Self-esteem; and c. Perceived Threats 2. What are the respondents perceive level of job performance as to: a. Quality of work; b. Productivity; and c. Quality of family work life 3. What is the respondent perceive degree of coping strategies employed regards to: a. Depression; b. Physical injury; and c. Self-Expression Proposed Hypothesis: H1; the factors that contributed to workplace bullying do significantly affect the respondents’ perceived degree of coping strategies employed as to: A.) Depression B.) Productivity C.) Quality of family-work life. Objectives: To know the factors that contributes to workplace bullying in terms of power, self-esteem and perceived threats. To know the respondent’s perceived level of job performance as to quality of work, productivity and quality of family-work life? To know the degree of respondent’s perceived degree of coping strategies employed with regards to depression, physical injury and self-expression. SIGNIFICANCE OF THE STUDY VICTIMS OF WORKPLACE BULLYING. This study will be useful to the people who are victims of bullying so that they will be able to develop or imitate the coping strategies of the victims with regard to depression, physical injury and self-expression. The reasons also being revealed why workplace bullying is existing in a particular company will help us to analyze in gathering data that can eradicate or lessen such issue. This study defines the impact of workplace bullying behavior on work productivity, quality of work within  a company THE COMPANY. The company will benefit to this study because this will identify reasons or factors of workplace bullying that need to be considered or to act upon. They can improve in identifying the effects of workplace bullying in employees’ peceived level of job performance as to quality of work, productivity and quality-work life. In this study the management can make decisions and strategy to eradicate bullying in the workplace in order to provide healthy relationships within the company. It also helps the organization to be aware on how to give insightful ways to eliminate this harmful behavior. It helps the company to be challenged to create policies regarding workplace bullying. THE FUTURE RESEACHERS OF THIS SUBJECT MATTER. This will help future researchers to gather secondary data and gain ideas. Scope and Limitations of the Study The proposed study will be limited only on the random people who worked in call center industry. This study will be limited only to the selected call center company within Davao City area. This study adds to the body of knowledge regarding adult bullying behavior in the workplace. Data from this research provide leaders and managers’ insight into the prevalence of the mistreatment of employees and how it affects the productivity of their workers.

Conflicts of Interest in Auditing and Consulting

Conflicts of Interest in Auditing and Consulting Conflicts of interest: how can the provision of consulting and advisory services be consistent with the requirements of auditor independence? One of the key issues identified as a cause of the Enron scandal is that the company managed to provide misleading financial information to investors and analysts over a period of several years, indicating around $100 billion of annual revenues. However, once the accurate numbers emerged showing the state of the company’s balance sheet, lenders withdrew their funding; the SEC increased the pressure on the company; and the company went bankrupt in less than two months. Sloan et al (2002) argue that the only way to avoid such incidents happening is to discourage companies from producing dishonest numbers, whilst making auditors afraid of certifying anything which could be seen as misleading. In general, the principle of auditor independence should mean that auditors are vigorous and unrelenting in their verification of accounting data. However, in the case of Enron, the auditors: Arthur Andersen, were signing off significant amounts of accounting data from their own consulting arm, who were providing Enron with consulting and advisory services. As such, there was likely physical evidence that Arthur Andersen’s auditors ignored several material accounting violations caused by both Enron and Arthur Andersen’s consultants. Unfortunately, it is difficult to prove this evidence given that all documents related to Enron were shredded by the auditors as soon as the scandal came to light, making it difficult to be certain around the extent of the complicity or the conflicts caused by Arthur Andersen providing Enron with substantial amounts of consulting services, at the same time as signing off company accounts which were later found to be almost completely inaccurate (Sloan et al, 2002). As a result of this, the legislation governing publicly listed companies in the United States was rapidly tightened through the Sarbanes-Oxley, or SOX, Act; which was intended to boost investor confidence. This legislation was based on the argument that a stock market is formed from a collection of share issuing firms; individual and institutional investors; and a body of accountants, lawyers and analysts. As such, the SOX Act was intended to ensure that each of these groups regained their own confidence in the system, and also confidence in each other. As such, the Act focused on promoting transparency and understandable data from the viewpoint of the final users of accounting data, rather that the provider (Kalafut, 2003). The main method by which SOX attempts to minimise and avoid conflicts of interest within the firm is by requiring corporations to establish corporate auditing committees; which are responsible for dealing with the auditors. This is because, previously, if auditors had any queries around the content of the financial statements, they had to seek out the management personnel responsible for generating the data. This meant that the managers could potentially shape the auditor’s interpretation of the information, particularly if the auditing company were also providing consulting or advisory services as occurred at Enron. In such an instance, the advisory staff may well themselves have exerted influence over their own auditors to ensure that the information was treated in a way that is favourable to the consultants, and not in a way that provided a true representation of the actual situation and data. The audit committee is supposed to avoid this by ensuring that the auditors only communicate with the committee members, who are all independent from the management of the firm, and hence can look at any advisory services provided by the auditor with an independent and critical eye (Lansing and Grgunch, 2004). As a result, the act also recommends that one of the audit committee members should be a financial expert with a good knowledge of accounting principles and financial statements from a firm or firms in similar industries. This allows the committee to accurately discern the true nature of any financial instruments, such as the off balance sheet financing and other special purpose entities used by Enron to cover up its financial difficulties. This will also be vital if an auditing firm is providing significant non auditing services, as they may well use their auditing experience to advise their client on how best to structure their business to present it more favourably from an a ccounting point of view. Financial experts on the audit committee will have similar experience, and hence will be able to help the auditors make a fair assessment of the true nature of any creative accounting. The other main part of the SOX Act which is designed to minimise any conflicts between the provision of consulting services and advisory services is that the penalties for being caught have been increased dramatically. In particular, the Act has increased the penalties which any CEOs and CFOs found guilty of violating any provisions of the Act would face. As part of this, CEOs and CFOs now have to sign off on the audited accounts and other statements that their companies file with the SEC, and will thus be held responsible if they certify statements which contain any false or misleading information. CEOs and CFOs who do so could face fines of up to $5,000,000 and potentially imprisonment for up to 20 years. As such, this places a significant responsibility on CEOs and CFOs, who are typically the board members responsible for appointing auditors and any advisory services, to ensure that there is no conflict of interest between the auditing and advisory services provided. With all this regulation, one would expect that the disadvantages of auditors providing their audit clients with other services would be so great that many companies would not even consider it. However, it is important to note that there are some benefits which can be obtained within the current legal and regulatory framework. For one, Marks (2007) argues that auditors’ in depth knowledge of their clients’ and comparable firms’ accounts can allow them to advise firms on their governance processes, efficiency and other aspects of their financial performance and how to improve them. In addition, audit firms will be better able to advise firms how to legally avoid as much tax as possible, whilst avoiding anything which could be considered tax evasion. This is particularly important in the modern business world, where the removal of exchange controls and trade barriers makes tax avoidance more possible than ever before, but also provides significant potential for com panies to fall foul of one or more of the tax regimes in which they operate (Sikka and Hampton, 2005). This helps to explain why many auditing firms also have large tax practices, as well as advisory services. In contrast, the only real disadvantage of a company providing both audit and other services is the potential for regulatory violations and conflicts of interest. Of these, the potential regulatory violations were immediately seized on by the US Congress following the Enron scandal, as it emerged that Enron paid Arthur Andersen $25 million in auditing fees, but a further $23 million in fees for other consulting work. However, it was the potential for conflicts of interest which emerged as the strongest disadvantage, with many corporate boards worrying that continuing to buy consulting services and auditing services from the same firms would damage investor confidence, and lead to a drop in share prices (Kahn, 2002). As a result, of the Big Four accounting firms currently in the market: Deloitte, Ernst and Young, PWC and KPMG; PWC stopped providing consulting services to audit clients; Ernst and Young sold it consulting business and KPMG and Deloitte both divested of their consulting businesses throughout 2001 and 2002 (Kahn, 2002). This meant that none of the Big Four auditors, which together audited around 90% of the major companies in the US and UK, provided any substantial consulting services following the Enron scandal, although they did continue to provide tax and some transactions advisory services. However, by 2003 Deloitte had reversed its decision, and brought the consulting business back into the overall business, which then comprised auditing, tax accounting, corporate finance and consulting. This decision was taken in spite of industry concern around conflicts of interest and the provisions of the SOX Act, in the belief that Deloitte could provide its clients with the advantages of i ntegrated professional and accounting services, whilst avoiding any of the potential regulatory concerns (Bryan-Low, 2003). Indeed, five years after the Enron scandal, Accountancy (2006) reported that the majority of accountancy firms, particularly the Big Four firms, have begun offering a wider range of services, and that the boundaries between these services are blurred, with inconsistent levels of disclosure. For example, PWC details specific revenues for audit, accounting and tax; however it also includes ‘advisory services’ in its revenues as an umbrella term for consultancy, corporate finance, and corporate recovery services. Also, whilst KPMG details separate categories including corporate finance, forensic accounting, transaction services and risk advisory services, the ‘risk advisory’ services are effectively the same as the consulting work offered by other accounting firms (Accountancy, 2006). This indicates that, even if the regulatory conflicts can be completely resolved, it will be difficult for shareholders to assess the true nature of their auditor’s revenue s, and hence the potential for any damaging conflicts of interest. Unfortunately, future steps to address any issues as a result of this are likely to be hampered by the fact that SOX is already proving a significant regulatory burden to publicly listed companies in the United States. In addition, Fisher and Quick (2004) claim that the true problem is not the conflict between auditing and other services, but the fact that the Big Four accounting firms are so dominant, auditing all of the FTSE 100 companies in the UK. With there being no true competition to the Big Four amongst their main clients, the market has come to resemble and oligopoly, and with many senior accountants at clients coming from the Big Four firms, there is a danger that former accountants working in senior management may simply favour their alumni firms when choosing auditors. Whilst this should be mitigated by the presence of the audit committee, minimising the impact of this ‘old boys’ network’ amongst the major accounting firms would go a long way towards r educing any potential conflicts of interest, and increasing the scrutiny given to the provision of additional services, particularly amongst the Big Four. In conclusion, and as the Enron scandal demonstrated, whenever an auditor of a publicly listed company also obtains significant revenues from providing their client with additional services, there is always the potential for a conflict of interest. In Enron’s case, this led to Arthur Andersen covering up significant losses which ultimately caused Enron to go bankrupt. The SOX Act should help to reduce this, by enforcing the use of an audit committee to prevent such conflicts, and increasing the pressure on executives to ensure that accounting data is fair. However, most of the major accounting firms continue to provide these services, hence the potential for conflict of interest remains. Possibly the only way to avoid this would be to attempt to break up the dominance of the Big Four, and create a more competitive market where the top firms have a wider choice of auditors, and hence can hold these auditors to higher standards of quality and transparency. References Accountancy (2006) Blurred boundaries. Accountancy; Vol. 137, Issue 1355, p. 35. Bryan-Low, C. (2003) Deloitte Chief Wrestles to Get Consultants Back in Firm. Wall Street Journal Eastern Edition; Vol. 242, Issue 33, p. C1-C7. Fisher, L. and Quick, C. (2004) The Big Four old boys club. Accountancy; Vol. 133, Issue 1327, p. 29. Kahn, J. (2002) Deloitte restates its case. Fortune; Vol. 145, Issue 9, p. 64-69. Kalafut, P. C. (2003) Communicate Value to Boost Investor Confidence. Financial Executive; Vol. 19, Issue 5, p. 28-29. Lansing, P. and Grgunch, C. (2004) The Sarbanes-Oxley Act: New Securities Disclosure Requirements in the United States. International Journal of Management; Vol. 21, Issue 3, p. 292-299. Marks, N. (2007) Internal Audits of Governance. Internal Auditor; Vol. 64, Issue 6, p. 31-32. Sikka, P. and Hampton, M. P. (2005) The role of accountancy firms in tax avoidance: Some evidence and issues. Accounting Forum; Vol. 29, Issue 3, p. 325-343. Sloan, A. Isikoff, M. Hosenball, M. and Thomas, R. (2002) The Enron Effect. Newsweek; Vol. 139, Issue 4, p. 34.

Circumcision Essay -- Health, Neonatal Circumcision

Neonatal circumcision is one of the most often executed surgeries in the United States. (1:130) In my clinical practice thus far, the question whether to circumcise male neonates or not is frequently asked in the postpartum period. Midwives play an important role in providing informed choice discussions for their clients, it is thus our role to present the research evidence available in order to help women make the right choice for them and their families. This paper aims to describe the different incentives of male circumcision and the benefits and risks involved. Male circumcision involves the process of amputating the foreskin so that the glans of the penis is exposed. (2:602) Nontherapeutic male circumcision has been performed over many centuries and it is an integral part of some religions and cultures. The World Health Organization reports that 30% of males globally are circumcised, with 70% of these being Muslim. (3:1) The prophet Muhammad proclaimed that all followers must circumcise their sons on day seven postpartum. Although not all Muslims follow this exactly, males are circumcised within the first 10 years of age and it is one of the factors of the customs in Islam that allow for personal hygiene. (4:76) Judaism also values circumcision as an important part of the religion. As is described in the Old Testament it is one of the prerequisites to becoming a great nation that Abraham undergoes circumcision, and that every male be circumcised on the eight day of life. (4:76) Although Jesus Christ himself was circumcised, his disciple Pa ul proclaimed that this act is no longer necessary, thus circumcision is no longer a part of Christianity. (4:76) In addition to religious incentives for nontherapeutic circumcision, cultur... ...nformed choice. Since male circumcision is a surgery there are certain risks involved. There is a 2-10% occurrence rate of key complications that involve hemorrhage, sepsis, fistula, meatal stenosis, removal of excessive skin and penile loss (5:2239), of which parents should be made aware. As midwives we can play an integral role in helping our clients make crucial decisions about their children’s lives. Although some parents may not hesitate with their decision to circumcise due to cultural or religious practices, it is our jobs as primary health care providers to present research evidence in a way to allow our clients to make informed choices. Along with presenting the scientific evidence outlined in this paper, being able to refer our client to competent health care providers that perform circumcisions is part of our critical role in the postpartum period. Circumcision Essay -- Health, Neonatal Circumcision Neonatal circumcision is one of the most often executed surgeries in the United States. (1:130) In my clinical practice thus far, the question whether to circumcise male neonates or not is frequently asked in the postpartum period. Midwives play an important role in providing informed choice discussions for their clients, it is thus our role to present the research evidence available in order to help women make the right choice for them and their families. This paper aims to describe the different incentives of male circumcision and the benefits and risks involved. Male circumcision involves the process of amputating the foreskin so that the glans of the penis is exposed. (2:602) Nontherapeutic male circumcision has been performed over many centuries and it is an integral part of some religions and cultures. The World Health Organization reports that 30% of males globally are circumcised, with 70% of these being Muslim. (3:1) The prophet Muhammad proclaimed that all followers must circumcise their sons on day seven postpartum. Although not all Muslims follow this exactly, males are circumcised within the first 10 years of age and it is one of the factors of the customs in Islam that allow for personal hygiene. (4:76) Judaism also values circumcision as an important part of the religion. As is described in the Old Testament it is one of the prerequisites to becoming a great nation that Abraham undergoes circumcision, and that every male be circumcised on the eight day of life. (4:76) Although Jesus Christ himself was circumcised, his disciple Pa ul proclaimed that this act is no longer necessary, thus circumcision is no longer a part of Christianity. (4:76) In addition to religious incentives for nontherapeutic circumcision, cultur... ...nformed choice. Since male circumcision is a surgery there are certain risks involved. There is a 2-10% occurrence rate of key complications that involve hemorrhage, sepsis, fistula, meatal stenosis, removal of excessive skin and penile loss (5:2239), of which parents should be made aware. As midwives we can play an integral role in helping our clients make crucial decisions about their children’s lives. Although some parents may not hesitate with their decision to circumcise due to cultural or religious practices, it is our jobs as primary health care providers to present research evidence in a way to allow our clients to make informed choices. Along with presenting the scientific evidence outlined in this paper, being able to refer our client to competent health care providers that perform circumcisions is part of our critical role in the postpartum period.

Technology of LADS - Laser Airborne Depth Sounder :: essays research papers

An aeroplane flies about 400-500 metres above the water at a speed of approximately 60 - 70 m/s. Then the aircraft will send out a pulse which is moderately reflected off the surface of the water and moderately broadcasted into the water and reflected off the oceans floor, as a result two pulses are sent back to the aircraft. The pulse which was reflected of the surface of the water is a red beam (infrared) which measures the aircraft height above the water and is directed vertically downward. The beam which reflects off the seabed is a green colour and is examined over a semicircle of +/ -15 degrees to the planes bearing and pulsates at approx 160 pulses per second. The aircrafts equipment will record the speed of the wave and the travel time during air to calculate depth . Therefore LADS must be flown during hours of darkness to eliminate the errors caused by the reflection of the sun off the water, which return false reading to the aircraft causing inaccurate depth. The calculate the green beam (which travels to the seabed and back up) you must obtain the speed of light in water which is given by Maxwell?s equations which basically show that When passing through a transparent or translucent material medium, like glass or air, light will have a slower speed than in a vacuum . Therefore the extra time and distance traveled by the green pulse can be calculated, giving the depth of the water. The aircraft needs to use two beams to ensure that the pulses return to the aircraft. In certain situations the pulse may not return to the aircraft due to flat glassy water surface (because of the law of reflection) . The Lads software automatically compiles arrival times and fixes errors in the data like tidal variations. Maps can be made after data is compiled from the aircraft by using Global Positioning Satellites, which constructs coordinates and data collected. The green laser is used due to its incorporation of light in murky waters is the slightest at these wavelengths. One laser is applies which creates an infrared laser. A frequency double then changes the frequency of a fraction of the beam by a aspect of two , resulting in a green light laser. Some Advantages and Disadvantages of LADS include: Advantages Disadvantages ? A quick and effortless way of measuring depth of waters. ? Can compile its data and send it to satellites, which create map images.

Taiwan :: History

Taiwan For centuries, Taiwan has been ruled by alien regimes. Modern Taiwanese history is a chronicle of the Taiwanese' struggles against oppression and fight for independent survival. Since 1945, Taiwan under the Kuomintang (KMT) regime has been subject to the threat of China's invasion. Even though recently the tensions across the Straits of Taiwan has loosened gradually, to Taiwanese, the unification policy stressed by both the KMT regime and the Chinese government still poses a grave danger of a forced and forcible merger with China. On August 31, 1993, the People's Republic of China issued a document titled, "The Taiwan Question and the Reunification of China." Circulating in seven languages, this diplomatic white paper manifested its intent and ambition of annexing Taiwan through its distortion of history, misconstruction of international law and treaties, and disregard for the will and welfare of the Taiwanese. Though less dogmatic and more pragmatic than before, the KMT's response remains ambiguous and problematic: the KMT still insists that the Communist regime cannot legitimately represent China, while emphasizing its own capability of resolving this "Chinese problem" eventually. Under such circumstances, we think it necessary to explicate our point of view from the perspective of the Taiwanese. China released a paper that states that "Peaceful Unification" and "One Country, Two Systems" are the basic principles of its Taiwan policy. The paper lists four guidelines: one China, coexistence of two systems, extensive autonomy, and peaceful negotiation. China warns that the Taiwan question is a purely domestic issue and thus to be solved under the premise of "One China." It further pronounces that peaceful unification is a fixed policy of the Chinese government. However, this government will reserve the right to take all action necessary, including military action, to protect its territorial integrity and governing authority. As a note directed at foreign states, the paper delivers its intention to keep out foreign intervention. "The Chinese government is not obliged to any foreign country and makes no promise whatsoever." In our opinion, the Chinese assumption and interpretation of the Taiwan issue are extremely absurd. Taiwan by no means is a part of the People's Republic of China, whether from the perspective of history, international law, or reality. This being the case, what position does the PRC have to formulate the "peaceful unification, one China" policy which aims at devouring Taiwan? China's chauvinistic ambitions are clearly manifested in light of this.

World Hunger

We will often hear of people’s desire to solve world hunger, or to help feed and alleviate the suffering associated with it. However, meaningful long-term alleviation is rooted in the alleviation of poverty, as poverty has always led to hunger. As our efforts have only been directed at providing food, and improving food production or distribution, we then generate the structural root causes that create hunger, poverty and dependency to still remain. Along with this; continuous effort, recourses and energies are given to relieve the pains of hunger in our world. There are many inter-related issues that are the cause of hunger; these are also the same factors that are known to cause poverty. Agricultural practices, war, drought, overfishing and the wasting of food; are some of the many causes of both world hunger and poverty. Because they are connected in a way; solving world hunger becomes hard and nearly impossible to stop. Both hunger and poverty have always led to each other in the end; making the issue uncontrollable and unstoppable. In order for one of these issues to be solved, would require the alleviation of the other; causing a long, endless chain of continuation. Hunger and poverty are very serious issues, and in no way should just be swept under the rug. The amount of food that gets thrown away each day is shocking; and could probably feed 100 people. We don’t do this intentionally; but we waste pounds of food each day, by taking more than what we truly need. World Hunger is something that shouldn’t be such a big problem; but the truth is-it is, it always has been, probably always will be. We’ve got to stand our ground and fight hunger and poverty, cause they can’t do it alone, no one can. We must begin to think a little less about ourselves, and a little more about each other. World hunger and poverty have become very important to me because I have helped out at a homeless shelter, and I have seen the faces of these people; I’ve had the oppertunity to make a connection with them, a connection that most people wouldn’t understand. These people are fighters, you can see it in their eyes. They are survivors of the biggest battle, a battle that they shouldn’t have to fight, a battle that most people don’t even have to think about; and the amazing thing is, they haven’t stopped; their still fighting. They shouldn’t have to do this alone, I am one out of probably a million people who are trying to help them fight this battle; cause I care. All it took was one day, and it has completly changed my life. Seeing all these people, looking into their eyes, feeling their pain; yet seeing a heart full of hope and joy. It has become a life-changing experience that I will never forget. In conclusion, there are a lot of people in our world, with enough food to provide everyone twice a day, yet there are still so many people that are suffering and dying of hunger. We have to face this problem, not turn away from it. I have personally grown to love these people with all my heart, because what they have gone through is truly amazing. They have changed my life forever, and I hope a can help change theirs.

Exhibit Advertisement Essay

Please join the Rhode Island School of Design in exploring a blast from the past! Our annual art exhibit will be celebrated January 22, 2012 in RISD’s auditorium. This year will showcase art work from the Early Chinese and Early Japanese Civilizations. During this free exhibit your entire family will be able to explore the very fascinating masterpieces from ancient Chinese and Japanese artist. Throughout the exhibit you will see different forms of art with each piece reflecting on their culture, history, and religious beliefs. Please take some time to read about some of the artwork that will be displayed, and its roots. Understanding these amazing art forms can be comprehended by first taking a look on how all forms of art was greatly influenced by Early Chinese Civilization. There are many connections between culture, religion, and spiritual beliefs. Buddhism, Taoism, and Confucianism were religions that greatly affected Chinese artist. These religions and philosophies represented social responsibility, responsibility towards nature, practical and mystical relations, along with healthy life balance. In addition to religion the admiration of nature played a very special part in art whether it is sculptures, calligraphy scrolls, or architecture. The wide array of art forms can be traced back to the Chinese culture. In the first preview you will notice a bronze horse; this artwork was created during the Han Dynasty. A horse for many was means of transportation however the Chinese valued the horse, especially due to their location. The breed of horses that were available to the Chinese were considered â€Å"flying horses† due to their speed. Many emperors along with citizens valued animals and nature because of their spiritual beliefs. Chinese men also valued the horse understanding that in time or war horses were an essential part to defeating enemies. Another art form that can be viewed at our annual exhibit is the representation of Yin and Yang. Yin and Yang represent the equal balance of life. This is most commonly represented by black and white, although the Chinese understood that life would not always be black and white. The Chinese understood that no part of life could be relevant without the other and appreciated the good with the bad and believed in things being equal. Japanese art form absorbed many of the influences from the Chinese Civilization. Japanese art in its own way is a concentrated form of Chinese work and cultural beliefs. There were Taoist and Confucius influences however the Shinto and Buddhist society were also heavily acknowledged. The love and respect for spiritual peace in addition to nature can be easily identified in Japanese art. Much like the Chinese, the Japanese also valued family, life balance, and elder wisdom. In the above image one can sense the importance of religion and spiritual finding. The Shaka Triad displays in the center Buddha. This art work was a direct influence of Buddhism, which later became to influence the court life of the Japanese. (Benton & DiYanni, 2008) This piece of art was directly influenced by the Chinese sculpture traditions especially those of pre-Tang period.

Scenario

Decision Form Period 5 Company____ 3 COPY I Price (per unit) Advertising Sales Corporate Identity Market research report Market 1 3090 EUR 6 mEUR MEUR Yes: ? x 2 Market 2 4420 FCU mEUR 3 Market 1 no. of ppl. Market 2 no. of ppl. Yes: ? Yes: ? Value Analysis 1 2 Sales Staff 120 90 Bid price for tender 2699 EUR/unit Relaunch (I – old) Introduction (I – new) Ecology 2. 6 4. 8 Technology COPY I – old COPY I – new COPY II – new 35 50 o. of ppl. no. of ppl. no. of ppl. COPY I R&D mEUR mEUR mEUR mEUR mEUR mEUR Purchasing Input Materials/Parts 30,000 units COPY I Production Volume Production Lines Investment Disinvestment Maintenance Rationalization 50,000 units Type B no. of new lines no. of line(s) mEUR /line mEUR /line 1 3 Type A no. of new lines no. of line(s) mEUR /line 1 mEUR /line 1. 6 Type C no. of new lines no. of line(s) mEUR /line mEUR /line ProductionProcess Optimization Investment in Environmental Technology Production Staff – hire (+) / dismiss (-) Training Non-salary costs Short Term Loans Long Term Loans Purchase of securities Dividends . 3 . 20 mEUR mEUR ppl. mEUR % mEUR mEUR mEUR % of net income Financing 5 30 COPY I Planned figures Sales Revenue* Return on equity Cash-Flow Market 1 100 mEUR % 15 10 mEUR Market 2 50 mEUR * Sales Revenue without Bulk Buyer and Request for Bids TOPSIMÂ ® – General Management | Version 13. 0 | Decision Form 8 Periods – Standard Scenario www. topsim. com

Beowulf Deeper Understanding Essay

In the epic poem Beowulf there is a more universal understanding that can be seen once a reader has taken the time to look deeper into the text of the poem. A characters intentions are not always seen instantaneously. To understand the full meaning of why someone might go out of their way to help another is not always in the kindness of their own heart. A more intense and complicated plot is behind the thoughts of a character named Beowulf. Everything he does always has a catch to it and requires more then a personal thank you. In the poem Beowulf has three battles against foes. The first foe that he encountered was the man beast Grendel. Grendel lived in Denmark, which was a great distance from Beowulf’s homeland. On his journey to Grendel he came upon and slayed nicors. Nicors are sea demons and their occurrence in his journey brought Beowulf more honors. The significance of Beowulf’s journey and the killing of those beasts was that they brought him glory. This glory was not only shown through his pride although it was also shown through the inhabatince of the land towards Beowulf. The people of the land also gave him precious gifts. These gifts brought out the self-centered and materialistic sides of Beowulf. He didn’t slay Grendel to help the people, because his intentions of getting a reward were not accepted out of the kindness of his heart. They were accepted in the sense that he knew that he deserved them and that they should be required to pay him tribute to his greatness. The following foe the Beowulf slayed was Grendel’s mother. His mother wasn’t of any threat to the Danes until Beowulf killed her son. This caused a sedate and low key monster to take offense to the people who she has never tried to revenge against. Beowulf’s ways in which he killed Grendel would be offensive to any parent either human or beast. When your sons arm is seen lying torn off his body symbolizing the greatness of his death and the excellence of a human being revenge is the only answer to the situation. The point in which Beowulf was trying to make when killing Grendel’s mother was that he was showing them that he not only got rid of their biggest  problem but he got rid of the following problem as well. He knew that if he slayed the mother following the son that a more exceptional reward would be given to him. The battle with the mother was more intense then the battle with Grendel because it took place underwater and in that place Beowulf found the deceased body of Grendel. To tip off his fame amongst the Danes he cut off Gredel’s head and returned home with it to signify his notability once again. Since the first and second beasts were off the hands of the Danes and Beowulf has receive enough personal gratification to meet his needs he now travels back home. All of his gifts of gratitude are brought back with him and a few outstanding items are given to the king in honor of Beowulf’s loyalty towards him, although his intentions are not what they seem. His true intentions are to rule the kingdom and he does get his wish once the king dies in battle. While Beowulf is king the people gain much security in him due to his strength in battle. Knowing that Beowulf is less likely to be defeated in battle causes the people to want to treat him better because of the protection that he posses. The last foe the Beowulf goes into battle with is the fire-breathing dragon. The dragon has been in slumber for 300 years until one of Beowulf’s peasants disturbs him by stealing his gold from his cave. Once this occurs the dragon periodically comes out of the cave and torments the Geats. Since the dragon is disturbing Beowulf’s people he takes it upon himself to slay the dragon, although this will end up being the last battle that he is going to be alive to fight in. Once he returns home he dies shortly after asking to see the treasure that he has won from fighting the dragon. In the battle between the dragon and Beowulf him wanting to see his treasure before he dies acknowledges his materialistic ways. He doesn’t ask to see any of his loved ones of the people who have been with him along his journeys, he asks to see what is in his possession before he dies. Beginning the battle he shows his loyalty to his people although his people don’t show loyalty towards him because when he went to fight the dragon majority of them ran away. Therefore, Beowulf’s dignity and strength traits are not  passed on to majority his people and they are only supporting him when they are not involved in dangerous battles. Beowulf wanted to be appreciated. He knew that his strength was rare and he wanted to be treated as a rare stone would be treated. Everything that he did had to be praised and had to have treasure in the end or it wouldn’t be good enough for Beowulf. The fact that he made his people build him a grave and put all of his treasures in it with him shows that his peoples love towards him was not voluntary given. He forced the people to understand that with out him they were nothing and that they would be unable to survive in battle with out him. I believe that he made himself out to be more then he was to make himself feel more out of the crowd then anyone else that obtained a special talent. A person’s innermost feelings are never clearly visible physically. To understand how a person thinks and why they feel the way that they feel is a very hard task. One may never understand the human feelings and what their results may concluded too, although ones inner thoughts or feelings (such as Beowulf’s) may bring upon a deeper level of frustration. In the epic poem of Beowulf such human actions are expresses once a reader looks deeper into the poems story to see that there are more interpretations that can be made on a larger, more universal level.

Class work Assignment Example | Topics and Well Written Essays - 750 words

Class work - Assignment Example ividuals also have a good social support network that they feel comfortable leaning on in times of difficulty† (Towson University: Relational Wellness, 2010, par. 1). One strongly believes that there is eminent strength and wellness through relationships with family and friends. They current provide the needed boost to pursue diverse endeavors and also encourage one to express personal feelings and emotions which is needed to support and sustain various activities in life. On the other hand, exemplifying the weakest dimension is in the financial wellness area. As disclosed in the resources page, â€Å"people with high financial well-being may have a lot of money or a little, but either way they are able to live within their means, not spending more money than they have. They are aware of where their money goes, and they have a budget that they stick to, as well as a long-range financial plan. They are aware of and meet their financial obligations and generally have a comfortable relationship with money† (Towson University: Financial Wellness, 2012, par. 1). Therefore, since one is lowest in this dimension, the traits indicated herein are oppositely applied to one’s personal experience. The current economic and financial difficulties contribute to this weakness as one needs to support various activities that could be be fully sustained by one’s level of income. From among the strategies revealed from the resources page, as could be applied to people found to have weaknesses in this dimension, the following were worth noting: (1) planning for future financial independence; (2) reducing one’s credit card debt, if any; (3) making a game of saving money; (4) read about strategies for increasing one’s financial wellness; and (5) talking with a parent, counselor, or advisor about how to improve one’s financial situation (Towson University: Financial Wellness, 2012). The resources page provide ample strategies where one could improve financial wellness, as

Homer, Shakespeare and Sophocles Essay Example | Topics and Well Written Essays - 1000 words

Homer, Shakespeare and Sophocles - Essay Example Hospitality is a prominent concept throughout the story. In book four, Odysseus finally returns to Ithaca in secret and begins to look for allies among his former employees. The opening of book four shows that Eumaeus is an industrious person. It tells of how he has built up the pig-sties through his own work, and that he above all of Odysseus' servants takes the best care of his animals, even going so far as to sleep with the pigs at night. He is also shown to be hospitable after the Greek fashion because he always sends the best of the hogs for the suitors, even though he is most likely not happy about doing it. He shows hospitality to Odysseus in beggar form, showing that he is compassionate and not proud. Later he prepares a second meal from one of the fat hogs that are normally reserved for the suitors, and in this his fairness is perfect, as he divides the meat into exactly equal portions. At this second meal he also presents a sacrifice to the gods, showing that he is pious as well. In drawing a comparison between xenia, piety, and morality, it is shown that the Greeks placed very high importance on the concept of hospitality to strangers and friends alike. As with many Greek choruses, the chorus in Antigone provides insight on the characters and plot of the play, and provides important cues that signal how the audience should feel about and relate to events and characters. In Antigone the chorus appears at pivotal moments to comment on what has occurred. Choruses also add meaning to a play because they are usually composed of a specific type of Greek citizen - for example in Antigone the chorus is made up of Theban elders. This adds meaning to the play because the elders were important for maintaining order in Greek cities, and for the king, their support is crucial - in fact Creon actively tries to win their loyalty. Throughout the play the chorus is torn between remaining loyal to Creon and the necessity of supporting divine law. In Antigone the chorus of Theban elders supports Creon at the beginning. They are loyal to Creon, and pledge their support (but not their approval) of Creon's plans. However, the chorus begins to change their stance when Creon tells Haemon that he intends to have Antigone executed. The chorus warns that because he is separating two people in love, Creon's actions may offend "[s]he against whom none may battle, the goddess Aphrodite". The members of the chorus are also city officials, therefore they must be pious, and withdraw support from a king who is out of favor with the gods. Later, when Tiresias warns of the gods' punishment they urge Creon to take his warning and bury Polyneices. The chorus ceases supporting Creon because he is close to losing the blessing and support of the gods. They advise Creon to take the only action which will allow him to remain in the gods' favor, and rejoice when he finally takes their advice, however at the end of the play they still judge that his a ctions have gotten him what he deserved: "By far is having sense the first part of happiness. One must not act impiously toward what pertains to gods. Big words of boasting men, paid for by big blows." Othello Othello is a Venetian general, courageous, intelligent, and skilled in battle. However, he is also socially insecure. Even though he shares religion,

EasyJet Airline Company Essay Example | Topics and Well Written Essays - 2500 words

EasyJet Airline Company - Essay Example The timeline of EasyJet Airline reportedly started in March of 1995 as founder Sir Stelios Haji-Ioannou was noted to have offered flights at significantly low fares in Europe. Currently,it boasts of being â€Å"Europe's leading airline,operating on over 600 routes across 30 countries with our fleet of over 200 aircraft, employing over 8,000 people In its almost 18 years of organizational existence, EasyJet was noted to have been governed by a code of conduct to guide the behavior and decision-making processes of its personnel. The paper hereby presents a critical evaluation of the code of EasyJet Airline through a description of the code and by thoroughly assessing the code’s effectiveness in demonstrating the company’s values and conformity to business ethics. Critical Analysis of the Code The organization’s code was found under the title Governance on their official website: http://corporate.EasyJet.com/about-EasyJet/governance.aspx?sc_lang=en. Upon initial gl ance, the governance page contains information that indicates that the organization’s board of directors commissioned setting principles and ethical policies, of which, it was explicitly emphasized that the â€Å"key to these principles is working in an open and honest manner† (EasyJet Airline, Governance, n.d., par. 2). Likewise, the code was apparently patterned from the UK Corporate Governance Code which allegedly requires the following information to be disclosed:†¢ Terms of reference for the Finance Committee†¢Terms of reference for the Remuneration Committee... ance Committee   Terms of reference for the Remuneration Committee Terms of reference for the Audit Committee Terms of reference for the Nominations Committee   Terms and conditions of appointment / reappointment of the non- executive directors Matters reserved for the Board Non-Audit Services Policy (EasyJet Airline, Governance, n.d., par. 3). Finally, two (2) other documents were disclosed to be incorporated and accessible: (1) Corporate Governance Pages of the Annual Report; and (2) division of responsibilities of the Chairman and CEO (EasyJet Airline, Governance, n.d., par. 4). The Corporate Governance Pages of the 2012 Annual Report are found on pages 44 to 48 and contain the following major portions, to wit: principles statement, statement of compliance, leadership, directors’ conflicts of interest, board engagement with investors, board committees, relations with investors, internal control, risk management and internal audit (EasyJet, Corporate governance, 2012). T he Ethics Resource Center has recommended a code outline that should apparently contain the following format: I.  Ã‚  Ã‚   MEMORABLE TITLE   II.  Ã‚   LEADERSHIP LETTER   III.   TABLE OF CONTENTS   IV.   INTRODUCTION-PROLOGUE   V.  Ã‚   CORE VALUES OF ORGANIZATION   VI.   CODE PROVISIONS-SUBSTANTIVE MATTERS   VII.   INFORMATION AND RESOURCES (Ethics Resource Center, 2009, p. 1). From the course modules, it was explicitly defined that the contents of ethical codes are as follows: â€Å"standard of conduct, obeying the law, employees,consumers, shareholders, business partners, community involvement, public activities, environment, innovation, competition, business integrity, and compliance/monitoring† (University of Salford Manchester, What is the content of ethical codes?, 2012, p. 6; Crane and Matten, 2007).

Respond to Taxation No Tyranny Assignment Example | Topics and Well Written Essays - 500 words

Respond to Taxation No Tyranny - Assignment Example The other would be that as humanity is uniform so do Americans resemble Europeans in such a manner. The protagonists have also made claims that the ancestors yielded to such tyranny as they had no right to vote or either gave up their rights for certain benefits such as being protected by the law and thus the colonists have exactly that which was passed on to them by the ancestors (Johnson 1775). The attempt to gain independence has been viewed as a progressive disobedience that started as dispute to paying of taxes and has grown to questioning of legislation. This leaves the colonialist with options that are limited to either yield to the demands or to combat the uprising. With the relentless nature of the colonist the latter has an upper hand, in other words resigning of dominion is impossible but reinstating it by force is inevitable. Furthermore the colonialist feels that such drum beats of independence must not rise from such a people as those who are enslavers of other races such as Negroes (Johnson 1775). The zeal with which these claims have been put across is outstanding, but the knowledge behind them is wanting; another display of leaping without thinking. The colonialist ought to know that times have changed and only a man who supports stagnation and stunted growth would support subjection of America to the Britain. To tell the Americans to continue under the tyranny of colonization given that that is what the ancestors passed on to them is a sheer display of cowardice towards change and exposure to the deficiencies of status quo. Every American is grateful at what the ancestors did to provide a system that worked in those days. It is indeed true that the Americans resemble Europeans that is why freedom is inevitable in America just as it is in Europe. Our ancestors might have forgone their right to vote and to make legislation for the benefits of being protected by the law, for the nation

Mkt wk3 team Essay Example | Topics and Well Written Essays - 250 words

Mkt wk3 team - Essay Example There seem to be endless possibilities for Apple has a brand and this has been understood by its users as they have come to know that Apple is one such manufacturer which believes in immense taste and quality no matter how hard it gets. The name ‘Apple’ reckons good and rich taste more than anything else as has been apparent since a long time. The iPod, iPad and iPhone products are ruling the roost within their competitive rivals and hence have been given all the acclaim that these products have richly deserved over a period of time. The varied market dimensions have more or less suggested the likeliness of the Apple users when they are choosing between categories or amongst the products, one of which belongs exclusively to Apple itself. Therefore it would be right to state that Apple brings together a collection of fine taste and exclusivity which other competitors can only think of. References Berry, T.  (1996-2011).  How to perform a SWOT analysis.  Mplans.com - Palo Alto Software, Inc.  Retrieved March 5, 2011 from http://articles.mplans.com/how-to-perform-a-swot-analysis/ Cooper, R (1999). Product leadership: Creating and launching superior new products. Perseus Books.

Physical Abuse to Children Essay Example | Topics and Well Written Essays - 1000 words

Physical Abuse to Children - Essay Example This research will begin with the statement that children need to be protected from any and all forms of abuse. It is evident from research carried out by different studies that most children are often exposed to one form of abuse or another at some point in their lives. In order to safeguard and protect the growth and development of a child, it is crucial to ensure that the environment in which they are exposed to is free from any and all forms of abuse. This may make it possible for them to grow and develop into individuals who are keen on helping shape society, rather than destroy it. Physical abuse is just one form of abuse that a child may experience growing up, and in some cases, may lead to the child’s death. It is not correct or fair to insinuate that among all the forms of abuse known, physical abuse may be the most dangerous. This is because all forms of abuse leave the child scarred and mentally afflicted for life. There are legislations that are in place that try a nd ensure children are protected and their rights safeguarded against any form of abuse. However, this has not stopped carers, parents, siblings, or guardians from physically abusing children. Working Together to Safeguard Children identifies physical abuse of children as poisoning, shaking, burning, scalding, and even drowning them. The distress caused by such actions often show up later in children as they tend to act out or carry out similar actions against others.

The history of south africa between 1650 and 1913 Essay

The history of south africa between 1650 and 1913 - Essay Example The Dutch colony in South Africa, established after their arrival in 1652, was â€Å"accidental† (Keegan 15). The Dutch had initially intended South Africa to be no more than a trading post. They hoped that they would be able to trade with the native population to ensure supplies for their ships. However, this arrangement did not work out as well as the Dutch had planned and a decision to colonise the area was made. In order to do this, the Dutch came into conflict with the Khoikhoi natives through colonising their land. This act of force was met with heavy native resistance (Ross 22-23). The first Khoikhoi-Dutch war began in 1659 and was ended with a treaty, acknowledging Dutch rights over the disputed territory. The Dutch had successfully exploited native tribal tensions despite low morale and limited numbers. The conflict did not end with the imposition of the treaty; in 1673 a four year war began as a result of the murder of white elephant hunters. At the end of the war, t he Dutch seized at least 1,765 Khoikhoi cattle and 4,930 sheep. Even though the Dutch never again declared war on the them, this was the beginning of the end for the Khoikhoi and they were forced to retreat to other areas (Frederickson 30-31). The second point to be analysed is the arrival of the British and how this impacted on the Dutch and the Bantu, with particular reference to the Xhosa. Like the Dutch, the British occupation in South Africa was not initially about colonisation. The first occupation, beginning in 1795, was a â€Å"temporary measure† aimed at preventing the French from gaining authority in the area and to â€Å"guarantee provisions and a safe harbor for Britains great Asian fleets† (Beck 42). Life in the colony continued as it had done prior to the British invasion, but there was significant concern about unrest in Eastern frontier

A study on the link between abortion and crime Essay Example for Free

A study on the link between abortion and crime Essay Imagine being raised in a home where education wasn’t encouraged. Imagine being truant from elementary school because your parents regularly abused drugs and weren’t there to take you to school. Would you be where you are today? Where do you think you would be? Here’s another question that may seem unrelated. Why did crime drop drastically in the early 1990’s? According to the Federal Bureau of Investigation, from its peak in 1991, violent crime fell roughly 34 percent by 2001. The rate of homicide – one of the most studied and arguably the most serious crime there is – fell massively. Over a slightly longer period, homicide rates per capita fell 44%, almost being halved. So we are left with the question, why? Such a massive decrease in crime affects all of us, even if it happened in the 1990’s. If a crime had continued to rise at the same rate, we’d live in a dramatically different world today. Understanding why this happened provides us with a crucial understanding of how the world works. Perhaps the answer lies in one of the biggest and oldest moral dilemmas of modern times.   A paper written by Steven Levitt of the University of Chicago and John Donohue of Yale University titled â€Å"The Impact of Legalized Abortion on Crime† in 2001 revived the idea that legalized abortion has an effect on reduced crime. The main argument behind it is that after the legalization of abortion took place in 1973, crime fell sharply 18 to 22 years later in the 1992-1995 period. Think about it. Males in the 18-24 age range are those most likely to commit crimes, and 18 to 24 years after abortion was legalized, crime fell drastically. See a connection? While this is a glaring indicator that there is a connection, it is not the only one. States that legalized abortion before Roe v. Wade experienced declines in crime before other states. On top of that, states that had higher abortion rates in the mid-1970’s had steeper declines in crime. These aren’t the only factors that contribute to the Donohue-Levitt hypothesis. Unwanted children, such as those that were born to people denied abortions, are more likely to suffer from neglect and abuse or to be abandoned. These children are more likely to eventually drop out of school, join gangs, and commit crimes or be incarcerated. Bringing a child into a family that is unable or unready to provide for it increases the child’s likelihood to exhibit delinquent behavior. The purpose of studying the link between abortion and crime isn’t to advocate abortion, or to hail it as a crime-fighting tool, but to instead understand trends in crime, and, ultimately, how the world works. In studying this, we can discover why people commit crimes, what affects crime rates, and the effects of abortion on society. The abortion debate is, and always should be, one of the moral values.

Assignment on Cell Phone Essay Example for Free

Assignment on Cell Phone Essay â€Å"Watson, come here: I want you.† This was the first message ever transmitted from one place to another, through a device called Telephone. Alexander Graham bell the American genius along with his assistant Thomas Watson invented this machine in 1876. It was March 10, 1876, an important day for the human civilization when this great machine was invented and it was the first step towards developing the means of communication. Since then we have come across a long way. Various means were added to the means of communication. Today, telephone is a part of our everyday life. Besides telephone, mobile phones are playing a great role to communicate massages from one place to another. It has become an integral part of life in all over the world. Today, telecommunication is one the major part of life. Nowadays, phone is not only using for making calls, among many other functions it’s used for text messaging, multimedia messaging and also even to connect us to the internet. Due to its various functionality it has a greater impact not only in the economy as well as in the society. Bangladesh is talking like never before. The phenomenal growth of the telecom industry over the last two decades has considerable changed the way people interact. The impact is seen among all spheres of people in Bangladesh. But the most significant impact is seen among the young users of cell phone. Telecommunications allows better access to services that enhance a society’s health and wellbeing such as healthcare and social services. Amongst the many implications of research is that poor and rural populations benefit most from mobile telephony because they are least likely to have alternatives. In view of this, the cross subsidies in Bangladesh from mobile to fixed users, from the poor to the rich, are especially damaging. There are a number of ways that mobile services can promote cohesion in families and society. For example, a cheap mobile service allows families and communities to remain as a coherent unit when family members are away for long periods. In cases where a family member is abroad either temporarily or permanently it allows the family unit to remain intact as well as generating inbound international call revenues. Due to intense competition among the operators, every company is trying to provide cheap call rate which is benefiting the users. Young people are benefitting most in this regard since they lack income sources. A cheap mobile service keeps them in touch with families and relatives thus strengthening social bodings. But every coin has two faces. The telecommunication companies in our country have been inclined towards introducing new and alternative packages for young people like Djuice Bondhu by Grameenphone, Desh by Banglalink, Shorol by Robi and many more. The question arises why companies are so aggressively coming up with such packages without the social mobilization to check the mindset of youth. How they are facilitating their users by such packages which offer lower call rate at midnight. Except on very urgent occasions ordinarily no one would like to talk after midnight. In our youth segment the majority is student community that is spell bounded by these packages. They are losing their essence of their studies. They are derailing and deviating themselves. They are getting away for their goals, destinies and motives. Their minds are becoming stagnant and static. Creativity and innovation is blocked by the consistent telephonic conversations spread over the whole of night. They are losing their interest towards the interactions and sociality. Alienation is increasing within small community or groups of people. In home young hardly get time to spend with their parents. In one room of hostels all four members are strangers to one another. They never try to tie up the relation because they don’t have a pinch of time. By talking whole night with opposite sex, they are getting psychologically weak and pressured. There are more other physical disorders also experiencing by the youth due to spending the precious time which is needed for compulsory rest, relaxation, relief and mental health. Due to spending whole nights over phone the absenteeism is skyrocketing in every profession. They are going far and far away from the hold of families. They tell lies and have false communication with their parents thus seriously jeopardizing the social relationship. They are deceiving the decisions, trust and expectations of their parents. They are traveling towards the lone parent family system in which one is not accountable to anyone and he is the only decision maker. Suck kind of behavior is leading towards the social fragmentation and terrible decline of moral values in which respect is core one. Even their mental approach is revolving around sexual satisfaction. Other emotions and sentiments are pushed oblivion, they are forgetting that there are so many matters that need their kind attention. Which are making them socially challenged. The mobile companies have every right to work out innovative packages offering greater value of money to their customers. But they should not making profits by compromising on the interest of young generation. Youth spend a huge amount of money on mobile cellular services annually. Major amounts of their disposable income are going to the mobile telecom companies. In the name of competition companies are aggressively promoting their offerings without considering the welfare of the youth. Therefore, we all have to realize the worth and well being of our youth.

Risk management is of vital importance in islam and takaful

Risk management is of vital importance in islam and takaful ABSTRACT Risk management is of vital importance in Islam and Takaful provides a way to manage risks in business according to SharÄ «ah principles. This research paper attempts to identify various types of risks involved in Takaful business that affect operational and investment functions of Takaful operators across the globe and finds the ways to manage those risks effectively. However, takaful operators often face difficulty in managing market and credit risks as SharÄ «ah compliant nature of Takaful contract does not allow Takaful companies to deal with interest rate and financial derivatives that have been unanimously considered repugnant to SharÄ «ah by Islamic jurists. This research identifies Islamic financial instruments like cooperative hedging and bi-lateral mutual adjustment that aim at providing mutual gains to both parties by the way of risk sharing and can be used as an alternative to conventional derivatives. The research paper attempts to provide a framework to enhance risk management culture among Takaful operators. It also discusses the challenges that need to be encountered to enhance risk management practices among Takaful operators. INTRODUCTION â€Å"Many Muslims misunderstand the concept of fate. For some Muslims believe that the future is in the hand of Allah, where they are facing with fatalistic mentality by putting themselves in the doctrine, whether one is rich or poor, happy or sad, it is fated by Allah. It is a good dealing with luck. In fact, efforts and prayers should precede this kind of belief† (Iqtisad Al-islamy, 2003). For a long time, same misconceptions have been associated with insurance. Muslim scholars and Islamic jurists have treated insurance illegal, haram and repugnant to SharÄ «ahwithout providing an alternative solution to Muslim Ummah. As a result of these prevalent misconceptions, any effort or risk management strategy to insure the assets or life has been considered against the fate and will of Allah. In Islamic financial planning, Takaful is a way to reduce the financial risk of loss due to accident and misfortunes (Iqtisad Al-islamy, 2003). As a matter of fact, Takaful plan is an alternative to the insurance in the conventional financial planning. In Takaful plan, the participant would pay particular amount of money as contribution (known as the premium) partly to risk fund (the participants special account) using the concept of tabbaru (donation) and partly to another party (known as Takaful company) with a mutual agreement that, the kafiil (Takaful company) is under a legal responsibility to provide for the participant a financial protection against unexpected loss, should it happen within the agreed period. The focus of this research paper is to identify various types of risks associated with Takaful business and devise criteria for managing risks and enhancing risk management culture among Takaful companies. It also discusses challenges to risk management in Takaful. RISK MANAGEMENT â€Å"Risk is the chance of happening of something that will have an impact upon our objectives. It is measured in terms of likelihood and consequences† (GOWA, 2002). Traditionally, concept of risk has been associated with uncertainty of events in future. Higher the uncertainty of events, higher is the risk. In insurance, risk is the amount of loss associated with property or life. Risk to property can be a loss or damage to car, building, house, etc. Risk to life can be described as poor health, premature death, bodily injuries as a result of accident etc. (Rejda, 2006; p.23). Risk management is a process that identifies loss exposures faced by an organization and selects the most appropriate techniques for treating such exposures(Rejda, 2006; p. 63). According to New Zealand standard of Risk Management, â€Å"It is the culture, processes and structures that are directed towards the effective management of potential opportunities and adverse effects†. In fact, risk management is an ongoing process that encompasses all aspects of our life. RISK MANAGEMENT UNDER SHARIAH Risk traditionally means possibility of meeting danger or suffering, harm or loss (Iqtisad Al-islamy, 2003). Risk is an element of life in this world for being ignorant of the future. It is also factor of investing that one should take time to understand prior to selecting any specific investment instruments or any new adventures. Muslims are asked to work hard in order to be able to change their conditions as obvious in the verse of Holy Quran, †¦ Verily never will Allah change the condition of a people until they change it themselves (with their own souls)†¦ (Quran 3:11). However, it is true that only Allah knows ones future and fate, Muslims should strive to achieve the goodness in this world and the hereafter. Submission to Allah, of course, has a positive effect on human behavior. For it will lead to peace and contentment. Undoubtedly, one has to submit every single thing to Allah, but it supposes to be after his hands stretch out to do the best effort as he can, to ch ange himself, so that he would be able to manage and to cope with unforeseen calamities or misfortune. Prophet Muhammad peace be upon him once asked a Bedouin who had left his camel untied, Why do not tie your camel? the Bedouin answered, I put my trust in Allah the prophet then said, tie up your camel first then put your trust in Allah( Sunan al -Tirmizi, vol.4, No. 2517, p. 668). This conversation depicts not only how should Muslims accept their fate but it also indicates how do Muslims reduce the risk of loss and calamities. Quran has presented stories of the previous prophets so that Muslims can take the lessons from their experiences. The story of the prophet Joseph, for instance, tells us about financial planning. The story of Prophet Yaqub, Josephs father, tells us about the management of risks as Yaqub commanded his sons to enter Egypt from different gates. Quran states, Further he said: O my sons! Enter not all by one gate: enter ye by different gates. Not that I can profit you aught against Allah (with my advice): None can command except Allah: On Him do I put my trust: and let all that trust put their trust on Him (Quran 12:67). The history of the prophets migration to Madinah gives us other lessons on how the Prophet (SAW) managed the risk. The Prophet reduced the risk of getting killed by asking Hazrat Ali (R.A.) to sleep in his bed during the night of emigration. It was reported that as night advanced, the Quraish posted assassins around the Prophets house. Thus they kept vigil all night long, waiting to kill him the moment he left his house early in the morning, peeping now and then through a hole in the door to make sure that he was still lying in his bed. All these above examples depict that risk management is in the roots of Islam. We, as a Muslims, should put our trust onto Allah only after meticulous planning and best utilization of all the available resources. NORMS OF ETHICS Obaidullah (2002, pp.2-4) has identified norms of efficiency and ethics for SharÄ «ahbased risk management in a business contract. These norms are also applicable to Takaful contract and are briefly described as follow: Each party in Takaful contract should be free to accept the terms and conditions of the contract and no coercion is imposed on any party. Takaful contract should be free from element of ‘riba (interest) that is prohibited by Shariah. One of the major objections on the contract of conventional insurance by SharÄ «ahscholars is element of ‘riba in its investments for which it is considered illegal and unIslamic. There should be no uncertainty or ambiguity about the nature of contract. Excessive uncertainty is not permissible in Shariah. For example, SharÄ «ahscholars disallow conventional insurance contract where no party clearly knows how and from where the insured amount is to going to be paid in case a loss or catastrophe occurs to the insured. There should not be any element of gambling in Takaful contract. It means that Takaful contract should not be aimed at getting a huge advantage at the cost of others. Rather, participants should have sincere intention of helping each other in case of loss or catastrophe from a joint fund. Contribution amount for participants should be adequate and fair and should be determined by actuaries and approved by SharÄ «ahscholars. Takaful customers (participants) should have equal access to adequate, accurate and timely market information related to Takaful products and companys performance where they want to contribute their money. Rights of any third party should not be adversely affected by Takaful contract between two parties. It means Takafulcontract should not be detrimental to any third party. There should be unrestricted public interest in Takaful products and its business contract which should work for the benefit of people at large. TYPES OF RISKS IN TAKÄ€FUL BUSINESS Business industry is prone to a number of risks. Five types of risks in business (Basel, 2006; IAIS, 2004) have been identified that are relevant to Takaful business. First two types of risks (underwriting and operational risks) are directly related to operations of Takaful company while remaining three (credit, liquidity and market risks) are associated with the investment activities of the company. i. Underwriting Risk: Underwriting risk is pertinent to insurance and Takaful. It occurs due to adverse selection of applicants or due to re-Takaful risk as a result of inability of re-Takaful operator to meet the obligation towards ceded company under re-Takaful agreement (IAIS, 2003; pp.32-33). Adverse selection refers to the tendency of selecting applicants that result in higher than average chance of loss (Rejda, 2006; p. 45). The risk of adverse selection arises when applicants with higher than average chance of loss succeed in obtaining Takaful coverage at standard rates e.g. high risk drivers or persons with serious health problems. It results in higher claim ratio and put the firm on high liquidity constraints. Re-Takaful risk occurs as the ceded company remains liable for a portion of outstanding claim to the extent re-Takaful operator fails to provide financial protection to Takaful operator in accordance with agreed terms. Both adverse selection and re-Takaful risk hamper the firms underwriting capacity; disturb the cash flow pattern and hence affect the stability of the profits of the company. ii. Operational Risk: Operational risk is not a well defined concept , yet Basel Report (2006, p.144) defines it as a loss that occurs as a result of inadequate or failed internal processes, people, technology or from external events. Internal processes failure occurs (Ahmed Khan, 2001; pp.29-30) as a result of inaccurate processing of transactions, inefficient record keeping, violating operational control limits, non-compliance of regulations etc. people risk may occur due to incompetence of employees, fraud and failure to perform the duties. Technology risk may arise as a result of telecommunication system or computer network breakdown. Risks from external events include unenforceability of regulatory policies, legislation and regulations that affect the fulfillment of contracts and transactions in the organizations. These risks are also called legal risks and are considered a part of operational risks. iii. Credit Risk: Credit risk occurs a result of default of counterparty when it fails to meet its obligations in time and in accordance with agreed terms (IAIS, 2004; p.14). In case of insurance, credit risk may be treated as default risk, migration risk, spread risk or concentration risk. Default risk occurs when Takaful operator does not receive or partially receive cash flows or assets to which it is entitled because the other party fails to meet the obligations of the contract. Migration risk occurs when probability of a future default of an obligator adversely affect the contract today. Spread risk occurs due to market perception of increased risk on either macro or micro basis. Concentration risk is the result of increased exposure to losses due to concentration of investments in a particular geographical area or economic or industrial sector. Takaful industry is also exposed to these risks. iv. Liquidity Risk: Liquidity risk is the risk resulting from Takaful companys inability to meet its obligations (i.e. claims payments and maturity price of policy) when they fall due. This risk occurs because the company has insufficient liquid assets or high level of liabilities (IAIS, 2004; p.18). Liquidity risk includes liquidation risk, affiliation investment risk and capital funding risk. Liquidation value risk is the risk under circumstance when assets are liquidated below their real (market) value. Affiliated investment risk is the risk that investment in an affiliated or member company might result in drain of financial or operating resources. Capital fund risk is the risk that insurance company will not be able to outsource funds in case of large claims. Takaful industry, just like conventional insurance company, faces similar types of liquidity risks. v. Market Risk: Market risk is the volatility of prices in instruments and assets of Takaful company in the market. It can be classified as equity price risk, interest rate risk, currency risk and commodity price risk (IAIS, 2004, p.12). Equity price risk is the risk of loss resulting from changes in market price of equities or other assets. Interest rate risk is the risk of loss resulting from changes in interest rates that adversely affect the cash flows of the insurance company. Currency risk is the risk of loss resulting from volatility of exchange rates that adversely affect the operations of insurance company. For a Takaful company, it does not include interest rate risk, however Takaful operators are exposed to mark up price risk as avoidance of interest based transactions is distinctive feature of SharÄ «ahcompliance. MANAGING RISKS All types of risks in Takaful require specific risk management strategy and need to be managed on individual basis. i. Underwriting Risk Management: Underwriting risk can be managed by establishing standard selection procedure consistent with the companys objectives. Most of the Takaful operators require physical inspection or medical reports of the applicants that have serious health problems or prone to higher than average risk. Some have introduced computerized underwriting system to standardized underwriting procedure and minimizing the chance of adverse selection. For example, Takaful Ikhlas Sdn. Bhd. of Malaysia uses computerized underwriting procedure for motor Takaful where applicants who meet standard requirements are automatically selected for Takaful. Others are rejected or alternatively are offered higher contribution rates for the extra risk. To minimize re-Takaful risk, Takaful operator can evaluate the financial strength of re-Takaful operators in the region and diversify the risk geographically by making arrangements with more than one re-Takaful operator. ii. Operational Risk Management: Management of this risk is more complex as it arises from failure of internal processes, people, information system breakdown and non-compliance with regulatory standards (Ahmed Khan, 2001; pp. 38-39). Senior management and board of directors of Takaful company should devise policies and develop strategies to manage and reduce operational risks. Sources of operational risk (i.e. people, processes and technology) should be handled carefully. This raises the importance of corporate governance culture in the organization. Given the newness of Takaful industry, computer software available for conventional insurance might not be appropriate for Takaful industry. This calls for recruiting talented professionals in the field of informational technology so that they could develop software to meet peculiar needs of Takaful industry. Independent external auditors can also play an important role in mitigating operational risk as they point out flaws in internal processes of the organization. T his calls for proper disclosure of activities and independent and secure reporting system. iii. Credit Risk Management: Under conventional insurance system, credit exposure limits are established within companys investment policies to mitigate and manage default risk, migration risk, spread risk and concentration risk as discussed under credit risk. Usually, following credit exposure limits can be established for insurance company investment and credit activities (IAIS, 2004; pp.16-18). Internal and external rating of counterparties Limit on maturity of credit facility (prefer short term credit over long term credit) Limit on maximum investment amount or a certain percentage of investment exposure to a single issuer, industry, geographical region or some other risk classification. Prohibition of interest does not allow Takaful companies to investment in interest-based instruments (Chapra and Khan, 2000). Moreover, Takaful companies do not have access to credit derivatives that are considered effective instruments for credit risk mitigation. Yet Al-Suwailem (2006; pp.67-68) argues that futures and Option contracts result in losses for more than 70% of the time and hence such instruments are considered as factors of loss, not of gain. The non-availability of Islamic derivatives raises the importance of internal control mechanism for Takaful operators which ensures that credit risk exposures are maintained within limits of prudential standards defined by internal controls. iv. Liquidity Risk Management: IAIS Report (2004, p.20) identifies two approaches in order to hedge liquidity risk that are also applicable to Takaful industry. These are: Cash flow modeling Liquidity ratios Cash flow modeling is done in order to assess the amount of deficit, surpluses or liquidation value risk in order to meet the needs of Takaful industry. Takaful operator should make sure that it has sufficient liquid assets in order to meet liquidity risk and unexpected liquidity requirements. Use of liquidity ratios will help Takaful operator to set the amount of liquid assets required to meet demands of liability portfolio, desired level of liquidity ratio will also help in determining Takaful operators investment policies. Capital funding risk could be mitigated by setting contingency plans and drawing cash from re-Takaful policies. This form of liquidity hedging could be recognized by knowing current level of liquid assets in hand to meet Takaful operators investment policies. In order to identify and evaluate liquidity risks, Ahmed and Khan (2001, p.38) emphasize the need of adequate internal control and proper disclosure of information in the organization. Towards this end, it is essential to have regular independent reports and internal audit function should periodically review the liquidity risk management process. v. Market Risk Management: In conventional insurance, management of market risk includes devising strategies to manage interest rate risk, exchange rate, and commodity price risk as well as equity price fluctuations. Takaful operators are not involved in interest based transactions so they do not face this risk. However, KIBOR (Karachi Inter Bank Offered Rate) can be used as bench mark for markup in Islamic financial institutions in their financing activities. Conventional institutions manage the market risk using financial derivatives such as futures, forward, option or swap contracts (Chapra Khan, 2000; p.55). Takaful operators face difficulty in managing market risk as these financial derivatives are not compatible with SharÄ «ahin the eyes of Islamic scholars. However, according to Al-Suwailem (2006; pp.118-126), cooperative hedging and bi-lateral mutual adjustment are acceptable instruments under SharÄ «ahto mitigate currency risk and interest rate risk respectively. Additionally, Takaful operators could apply stress tests and Value at Risk (VaR) techniques to mitigate commodity price risk and equity risk. Stress testing is one of the risk management tools that can be employed to assess the vulnerability of portfolios to abnormal shocks and market conditions. Value at Risk is the probability of portfolio losses exceeding some specified proportion. ENHANCING RISK MANAGEMENT CULTURE Cultivation of risk management culture is extremely important to form a robust and resilient Takaful industry in Pakistan. This objective, however, could not be achieved without active participation and collaboration of regulatory authorities, senior management of Takaful companies and members of SharÄ «ahSupervisory Board (SSB). Towards this end, regularities authorities should make sure that stress testing and Value at Risk (VaR) reports as identified above are regularly produced and obtained from senior management of Takaful operators in addition to reports of Takaful risks. Regular review of these reports will greatly facilitate the regulatory authorities as well as Takaful operators to enhance risk management practices in Takaful industry. Moreover, effective implementation of internal control and corporate governance system could prove to be of vital importance to Takaful operator as well as to concerned regulatory authority. It will help the authorities in effective monitoring of Takaful activities and managing different types of risks hence enhancing the functioning of Takaful operators in the industry. Figure 1 shows the steps for effectively manage the risks in Takaful business. In the first step, possible risks in the way of Takaful business are identified. In the second step, strategies are developed to cope with and manage the risks effectively. In the third step, process of identification and strategy formulation and implementation related to each type of risk is examined through review reports and effective measures are taken to counter any flaw or discrepancy in the previous process. CHALLENGES TO RISK MANAGEMENT In spite of effective risk management techniques discussed above, there are certain challenges in the way of risk management for Takaful. i. Internal Controls: Internal controls are indispensable for recognizing and assessing risks faced by financial institutions including Takaful companies. Basel Committee (2005) and IAIS (2006a) reports have focused on the importance of internal controls for banking institutions as well as for conventional insurance companies respectively. Chapra and Ahmad (2002) found that existence of effective internal control have prevented the financial institutions from systemic crisis and enabled them to have early detection of problems and associated risks they might face in future. These experiences highlight the importance and need of internal controls for Takaful companies. Unique nature of these companies from conventional insurance demands the fulfillment of SharÄ «ahaspects. IFSB and IAIS joint working group (2006) maintains that to have effective internal control mechanism, Takaful companies must ensure SharÄ «ahcontrols in addition to all statutory regulations. It urges the need of a regularSharÄ «ahaud it as a part of an on-going internal control system. ii. Corporate Governance: The corporate governance structure specifies the distribution of rights and responsibilities of the Board, manager, shareholders and other stakeholders (OECD Report, 1999) yet effective corporate governance ensures the independence of board of directors (BOD) who in turn devise polices and implement strategies for risk management and hold the management accountable to shareholders (Psaros and Seamer, 2002; p.7). Lack of an effective corporate governance framework hampers the independence of board of directors (BOD) and hence poses a challenge to risk management. It in turn increases the operational risk which might result in failure of operations due to inability of BOD to implement unbiased and independent decisions for the best interest of all stakeholders. Takaful companies are confronted with an additional challenge related to corporate governance of SharÄ «ahSupervisory Board (SSB). Grais and Pellegrini (2006b) identify corporate governance issues that affect their role and fun ctioning in the organizations. It calls for a greater need to incorporate corporate governance culture to overcome related issues of Takaful industry. iii. SharÄ «ahBased Challenges: According to Ahmed Khan (2001), most of the risk management techniques are not applicable to Islamic financial institutions due to the requirements of SharÄ «ahcompliance. It creates SharÄ «ahbased challenges to risk management for Takafulcompanies as well. These challenges arise as SharÄ «ahrestricts the use certain instruments that are considered useful in conventional risk management e.g. derivatives (futures, options, swaps etc.) and sale of debts. Al-Suwailem (2006, pp.89-90) argues that SharÄ «ahconstraints to human behavior do not hinder creativity, rather these constraints are the major driving force behind the creation of innovative financial instruments. He suggests several Islamic financial instruments for risk management and concludes that SharÄ «ahis abundant with real solutions to the present problems of gambling and speculation. It provides directions to SharÄ «ahscholars and experts of Islamic finance to explore the dimensions of SharÄ «ahin order to integrate risk management practices with value creation. iv. Financial Engineering: Financial engineering aims at designing new and innovative SharÄ «ahcompliant Islamic financial instruments for IFIs including Takaful companies. Chapra and Ahmad (2002) maintain that financial engineering has emerged as the greatest challenge faced by SharÄ «ahscholars of present time as it poses major threat to IFIs to become competitive in the contemporary business environment. Process of giving fatwas by SharÄ «ahscholars regarding the permissibility of a financial instrument is quite slow and over-conservative (Iqbal et al, 1998; pp.47-48) as SharÄ «ahscholars and experts of modern finance have different academic backgrounds. They use technical terms related to their own field that are most of the time not easily understandable to other party. The need is to produce scholars with SharÄ «ahbackground that also have working knowledge of modern finance to meet the acute challenge of financial engineering. v. Islamic Financial Market: Islamic financial market provides a secondary market for trading of Islamic financial instruments. In the absence of this market, it will be extremely difficult for Takafulcompanies to maintain its liquidity position to make prompt claim payments when they become due. Retaining a large portion of Takaful fund to maintain high liquidity ratio will affect the efficiency of the firm and its competitiveness as compared to conventional insurance companies that have ready access to liquid bonds and t-bills. Islamic Financial Market will greatly facilitate the Takafulcompanies to invest large portion of their fund in Islamic financial instruments and increasing their efficiency and competitiveness while maintaining low liquidity ratio. It will also help Takaful companies in hedging market risk by providing alternative instruments to financial derivatives that are not acceptable under Shariah. vi. Need of Private Credit Rating Agencies: Although International Islamic Rating Agency (IIRA) has been set up in Bahrain to judge the SharÄ «ahcompliance and financial strength of Islamic financial institutions (IFIs) including Takaful companies, it is not be possible for IIRA to rate thousands of counterparties with whomTakaful companies deal. Consequently, it calls for the need of private credit rating agencies in each Muslim country that could provide information related to financial strengthen, fiduciary risk and credit worthiness of thousands of counterparties that privately issue financial instruments (Chapra Ahmed, 2002; pp.80-81). This information could provide great help to IIRA in rating these companies and make it readily available to Takaful companies and other interested parties. CONCLUSION AND RECOMMENDATIONS Risk management is of vital importance in Islam and Takaful provides a way to manage risks in business according to SharÄ «ahprinciples. Five types of risks have been identified in Takaful business that affect operational and investment functions of Takaful operator. Operational risk can be managed by enhancing corporate governance culture in the organizations. Cash flow modeling and use of liquidity ratios is quite helpful to identify liquidity constraints. Takaful operators might face difficulty in managing market and credit risks asSharÄ «ahcompliant nature of Takaful contract does not allow Takaful companies to deal with interest rate and financial derivatives due to their speculative nature by which they tend to benefit one party at the loss of other. On the other hand, Islamic financial instruments like cooperative hedging and bi-lateral mutual adjustment aim at providing mutual gains to both parties by the way of risk sharing. Risks associated to Takaful have raised several challenges that need to be encountered to enhance risk management practices. Regular SharÄ «ahaudit is found to be an integral part of effective internal controls that prevent the companies from systemic crisis. Corporate governance calls for independence of BOD to devise policies for effective risk management, make unbiased decisions and resolve issues related to functioning of SSB. SharÄ «ahbased challenges call for devising innovative Islamic financial instruments as SharÄ «ahis abundant with real solutions to present business dilemma and does not hinder creativity. Exploring those solutions will help to meet the challenge of financial engineering. Islamic financial market will greatly facilitate the task of Takaful companies to invest large portion of their fund in Islamic financial instruments and increase their efficiency and competitiveness. There is need to establish private credit rating agencies that could assist IIRA to ra te thousands of counterparties for the benefit of Takaful operators.