Study Of Suitable Investments During A Recession Period Finance Essay - Free Essay Example

Sample details Pages: 7 Words: 2116 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? According to Stormy Brain (2008) Keith Robert (2003, p. 31), the key to investing during a recession is to start off with the right mentality and do not panic. They also lay the groundwork for opportunities in the future even recession can be scary. Interest rates fall and it becomes less expensive to borrow money. Cost-cutting processes can teach a company to become more innovative and competitive. The lower demand for products and services brings down the effects of inflation. Warren Buffet, George Soros (1995), Mary Jaksch (2009) also believed that stock market timing is not exact, but chances are that if you invest during a recession, once the market has recovered you will benefit from the increase in price that your investment will bring by way of profit when you do decide to sell. Recession may not seem like the best time to be investing your money but just because we are in a recession doesnt mean the market has come to a complete standstill. There are di fferent ways you can invest which obviously vary depending on your current financial situation. There is an investment possibility for everyone, which can help put a little extra savings back in your pocket and even yield some future wealth down the road. Warren Buffet (1995), Anna Frago (2002), Kelley Wright (2010) stated that blue chip stocks are these companies hold leading positions in their industry and have a long, unbroken record of earnings growth and dividend payments. These stocks are high-grade, investment-quality issues of major companies that have the fundamental strength and size to hold their own during a recession and enough resources to capitalize on an economic recovery. Investors who are conservative and who seek safety and stability will usually invest in this group. In Malaysia, blue chip stocks include Public Bank, Genting, Sime Darby and others. Otherwise, investors typically add defensive stocks to their portfolios during economic recessions, or market downturns. Thats because defensive stocks can be expected to perform relatively well during all phases of a business cycle even during difficult economic conditions as suggested by Warren Buffet (1995) Anna Farago (2002) Berba Velasco (2009), Esme Faerber (2008). A defensive stock is normally associated with a company that belongs to an industry or market sector that is unaffected by business cycles. That is to say, consumer demand for their products or services exists no matter how good or how bad the economy is performing. Defensive stocks are the opposite of cyclical stocks whereby the financial health of cyclical companies move in-sync with the health of the economy. Thats why these stocks are also referred to as non-cyclical stocks. Defensive stocks include companies belonging to the following market sectors are utilities, food beverages, healthcare, non-durable goods. The biggest advantage an investor gains through the purchase of defensive stock is a conservative portfolio that should provide above average returns during a recession. The profitability of these stocks will hold up during these hard times because the demand for the products or services of these companies is relatively inelastic. Warren Buffet (1995), John Waggoner (2006), Esme Faerber (2008) also noted that investments in utility stocks are stocks of electric, water, gas, and telephone companies that are usually with a relatively decent dividend income and high degree of safety. Whether the economy is growing or slowing, people just need electricity, water, gas and phones, these services are an indispensable part of our lives. In Malaysia, there include Terlekom, Tenaga, Petronas and others. In the finding of Jim Roger (2007), Susan C.Walker (2008), Beth Anderson (2008), gold is traditionally seen as a safe investment, especially during a time of financial uncertainty, high inflation, depreciating exchange rates and economic recession. During a recession, gold is seen as a better in vestment than say the stock market. Stocks will fall as companies make less profit. David Prakash Egon von Greyerz (2009) also stated that gold is seen as a safe investment for preserving value of assets and has an intrinsic value. This encourages speculative buying of gold as investors diversify out of other riskier investments. Gold will also become attractive if we have negative real interest rates e.g. inflation higher than nominal interest rates. With negative real interest rates, saving in a bank becomes less attractive and gold become more attractive. Lavanay Bhadwal (2009) Julian D. W. Phillips (2010) also suggested that you can use gold as a short term or a long term investment where they will get sufficient returns. Research and analysis suggests that gold has grown by at least 2% in the last 50 years and the present decade has seen the gold market grow at 4% annually. During a recession, interest rates are typically at their lowest. This means that it will cost the a verage person less money in terms of interest payments to make large purchases. William H. Pivar (2004), Dold de Roos (2005) Sal S Vannutini (2008) suggested that among the largest of purchases is the purchase of a home of piece of investment real estate. As the demand for homes tends to decrease during a recession, sellers are forced to lower their asking prices in order to be more appealing to buyers. This lower asking price is also a monetary advantage to the individual looking to invest in a home or to buy a home and hold on to it long enough to have the market rebound and then sell that home for an easy profit. New home sales have seen a steady decline in value during the recession, but that is by no means the only indicator that those looking for an investment opportunity should use to base their decisions off of. Buying a new home that is currently undervalues simply because of the status of the market can be a brilliant investment move. According to Galen D. Burghardt, T errence M. Belton, Morton Lane, John Papa (2005), corporate bond is a type of bond issued by a corporation. Corporate bonds often pay higher rates than government or municipal bonds, because they tend to be riskier as revealed by the bond holder receives interest payments (yield) and the principal is repaid on a fixed maturity date. US Treasury bond is a negotiable, coupon-bearing debt obligation issued by the U.S. government and backed by its full faith and credit, having a maturity of more than 7 years. Interest is paid semi-annually at fixed coupon rate. U.S. Treasury Bonds are exempt from state and local taxes. These securities have the longest maturity of any bond issued by the U.S. Treasury, from 10 to 30 years. The 30-year bond is also called the long bond. These bonds are not callable, but some older U.S. Treasury Bonds available on the secondary market are callable within five years of the maturity date. In the finding of Esme Faerber (1999) Srichander Ramaswamy (2004), th e prices of the long term US Treasury Bonds or the highest investment grade bonds would expect to increase during a recession because interest rates tend to fall during a recession. Corporate bonds for a bit more risk and pay out higher amounts but have just a little bit more risk than treasury bonds, especially during a recession. Bonds are considered to be less risky than stocks, since the company has to pay off all its debts (including bonds) before it handles its obligations to stockholders. Corporate bonds have a wide range of ratings and yields because the financial health of the issuers can vary widely. A high yield bond or junk bond is a bond that is rated below investment grade at the time of purchase. Edward I. Atman (1992), Matthew Goldstein (2001), Murali Ramaswami (1991) stated that bonds have a higher risk of default or other adverse credit events, but typically pay higher yields than better quality bonds in order to make them attractive to investors. Therefore, in vestors with a greater risk tolerance and much deeper pockets may even want to consider buying into a junk-bond fund. Recent history has shown that junk-bond investors have earned their best returns the year after the junk-bond market bottoms out. In 1991, while the nation was mired in its last recession, the junk-bond market produced an eye-popping 34.6% return on investment, according to Moodys. The impact of declining interest rates is magnified on the junk-bond market because high-yield bonds carry much higher rates than other kinds of bonds. Declining rates make those high yields that much more attractive, which tends to raise the price of the bonds that pay them. Gary L. Gastineau, David Lerman (2001) Archie M. Richard (2007) founded that an exchange-traded fund (or ETF) is an investment vehicle traded on stock exchanges, much like stocks. An ETF holds assets such as stocks or bonds and trades at approximately the same price as the net asset value of its underlying assets over the course of the trading day. Most ETFs track an index, such as the FTSE Bursa Malaysia KLCI. ETFs may be attractive as investments because of their low costs, tax efficiency, and stock-like features. Investors can buying shares in several exchange-traded funds, or ETFs stocks that track the performance of a major market index such as the KLCI or the Mesdaq, or are based on actively managed mutual funds. That way, they can participate in any early rally in stocks without being overly exposed to any single companys poor earnings performance. ETFs have grown in popularity with individual investors because theyre cheaper and easier to invest in than traditional stock index funds during recession. Money market deposit account is a savings account which shares some of the characteristics of a money market fund. Like other savings accounts, money market deposit accounts are insured by the Federal government. They are very safe and highly liquid investments, but offer a lower int erest rate than most other investments as suggested by Marcia L. Stgum (1997) Julian Walmsley (2000). Credit default swap is a specific kind of counterparty agreement which allows the transfer of third party credit risk from one party to the other. One party in the swap is a lender and faces credit risk from a third party and the counterparty in the credit default swap agrees to insure this risk in exchange of regular periodic payments essentially an insurance premium. If the third party defaults, the party providing insurance will have to purchase from the insured party the defaulted asset. In turn, the insurer pays the insured the remaining interest on the debt, as well as the principal. During recession, investors should keep some extra money in an interest-bearing money-market account especially if theyre investing money theyll need fairly soon. Matthew Goldstein (2001) also suggested that investors shouldnt expect to get rich off the 4% annual yields offered on most money-mark et accounts but at least theyre guaranteed to make some money. Investors also stash some money in six-month or one-year bank certificates of deposit which on average pay a 2% higher annual yield than a money-market account. For the casual investor who does not have the time or inclination to actively manage his or her own portfolio. Graciela Kaminskyà ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¬Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚   Richard Lyons, Sergio Schmukler (2000) revealed that mutual funds reduce the time and effort needed and stays true even in a recession. The trick is finding mutual funds that do well in tough economic times. Madhu S. Panigrahi (1996), Esme Faerber (1999), Robert Kosowski (2006) Benz Jayma P. (2009) founded that are certain industries that weather recession better than others and the best mutual funds will be sector funds which are based on a specific industry. Industries that do well during economic downturn include utilities and staple consumer goods. Mutual funds in recession-proof s ectors can still be volatile and under-perform if the fund manager buys and sells constantly or the fund charges a high management fee. Review the fee structures for the funds you are considering and choose one with a high historical return and low fee. Other mutual funds that can be considered as recession proof would include money market funds and bond funds. The best way to use mutual funds both before and after a recession is to have a diversified mutual fund portfolio in the first place. Having a constructed portfolio of both stocks and bonds will provide you an opportunity or cushion for participating in stock market growth or markets decline. In conclusion, Warren Buffet (1995), Zvi Bodie Michael J.Clowes (2003), Stormy Brain (2008), Emanuel Balarie (2008) also concluded that recession offers many hidden opportunities and you need to seize them by understanding the basic rules on how to prosper in uncertain times. During this economic crisis, you can make some good long- term investments that will yield you fantastic returns in years to come. However, you should never put all your eggs in the same basket. Diversifying will help to protect your investments and will also give you great returns in good times or bad. Don’t waste time! Our writers will create an original "Study Of Suitable Investments During A Recession Period Finance Essay" essay for you Create order

Comparative Essay On The American And French Revolutions

3.1 Short Paper: Comparative Essay on the American and French Revolutions 1.) Why does the United States come out its revolution with a republic instead of a monarchy? Why do the French wind up with an Emperor Napoleon but the United States does not have a King George of the House of Washington? There are moments in our history where the citizens of the world stand up and for their beliefs, their honor, and themselves. They come together to reform the existing government that is holding them back from achieving their desired lifestyle. When this occurs, most likely, war is inevitable to follow. When war comes to a country, death and destruction is destined. Leaders and rules change, but the pride of its citizens prevails and becomes†¦show more content†¦When that monarchy went against the colonists, and regarded them a part of the empire, this was not entirely how the colonist’s wished to identify themselves. America and its colonists wished to establish themselves as being independent from a monarchy and to have a say in how they were ru led. After the revolution was over, Washington went back to Mount Vernon to retire, or so he thought. When Washington was asked by his fellow founding fathers to become the new King of the United States, his reaction must have been priceless. After fighting the revolution for many long hard years, to get away from a monarchy, and now they wanted to create another one. Washington had his reasons why he did not wish to be king because, â€Å"He was driven by Ameri-can nationalism years before independence was declared, and for eight long years after 1775 he sacrificed as a soldier to bring the American na ¬tion into being. He emerged from retirement to search for a means of safeguarding a national Union imperiled by sectionalists and localists, and with considerable misgivings he agreed to take on the presidency in an attempt to establish an energetic national government and a robust and truly independent United States.† Washington did not wish to be King, he wished to have what he fought in the revolution for, a government that was governed by the people not a monarch. Ame rica’s founding fathers, were at the helm of theShow MoreRelatedSocial Revolutions in the Modern World by Theda Skocpol1092 Words   |  5 PagesSocial Revolutions in the Modern World, was widely published in 1994 and presents an extension of her structurally-based, comparative analysis of various social revolutions. In addition to this book, she has also published numerous other works including States and Social Revolutions and the acclaimed, Protecting Soldiers and Mothers: The Political Origins of Social Policy in the United States, applying her social theories to the genesis of the American welfare state. Social Revolutions in theRead MoreSocial Revolutions in the Modern World1100 Words   |  5 PagesA Review of: Social Revolutions in the Modern World, by Theda Skocpol Theda Skocpol grew up in Detroit, Michigan, received her B.A. from Michigan State University and went on to earn a PhD from Harvard in sociology, where she is the Victor S. Thomas Professor of Sociology and Government. She is widely regarded in academic circles for her unique approaches to understanding political and social science issues. In 2007, Skocpol was awarded the John Skytte Prize in political science, one of the world’sRead MoreThe French Revolution And The Enlightenment1708 Words   |  7 Pageswhile embracing the notion of humanity to improve human change. The French revolution was directly in motivation by Enlightenment ideals which marked a peak of its influence and a beginning of its fall. The Enlightenment s imperative of the seventeenth-century forerunners incorporated the Englishmen Francis Bacon and Thomas Hobbes, the Frenchman Renee Descartes and the important characteristic logicians of the Scientific Revolution, including Galileo, Kepler, and Leibniz . The civilization called forRead MoreComparative Practice 2009 Racial Ideologies in the Americas C31787 Words   |  8 Pagesï » ¿Comparative Practice 2009 Racial Ideologies in the Americas WHAP/Napp Name: _________________ The Question: 2009 Comparative Essay from the World History AP For the period from 1500 to 1830, compare North American racial ideologies and their effects on society with Latin American/Caribbean racial ideologies and their effects on society. Do Now: â€Å"With the exception of some early viceroys, few members of Spain’sRead MoreThe Industrial Revolution Associated With Britain s Rise As An Imperial Power?2272 Words   |  10 Pagesextent was the industrial revolution associated with Britain’s rise as an imperial power? In the middle of the 18th century, there were many major European colonial powers; Spain, Portugal, the Dutch Republic, France and of course, Great Britain . A century later, by about the middle of the 19th century, the British Empire was unrivalled, stretching all around the world and having become a great trading and conquering empire. During this period, the â€Å"industrial revolution† was credited to have occurred;Read MoreOrigin Development of Sociology as a Separate Science2145 Words   |  9 Pagescivilizations. Though they were thinking in sociological terms they were called philosophers, historians, thinkers, law-givers or seers. Though sociology came to be established as a separate discipline in the 19th –century due to the efforts of the French Philosopher Auguste Comte. It is wrong to suppose that no social thought existed before him. Four thousands of years men have reflected upon societies in which they lived. In the writings of Plato, Aristotle, Manu, Kautilya, Confucius, Cicero andRead MoreHistory HL Paper 3 Europe6131 Words   |  25 Pagesauthorization of IB Cardiff. –3– 1. M08/3/HISTX/HP3/ENG/TZ0/EU/M+ To what extent was the French monarchy both the main cause and the main victim of the 1789 French Revolution? This question is about the French monarchy as an institution, not only Louis XVI, thus the first part of the question needs an analysis of the nature of the monarchy, as head of an outdated feudal system and as a cause of the revolution, as well as of the actions of Louis. It could be relevant to give a brief background, possiblyRead More Citizenship and The French Revolution Essay7066 Words   |  29 PagesCitizenship and The French Revolution The French Revolution of 1789 changed the meaning of the word â€Å"revolution.† Prior to this year, revolution meant restoring a previous form of government that had been taken away. Since then, revolution has meant creating a new institution of government that did not previously exist. This required that a constitution be drafted. After a series of four mini-revolutions from May to July, the â€Å"Declaration of Rights of Man and Citizen† was released on theRead MoreAnalysis Of Vineland And Robert Coover s Dramatic Monologue Rip Awake1732 Words   |  7 Pagesâ€Å"Rip Van Winkle† and attempts to analyze both adaptations. Though Irving’s short story dates back to an earlier time period in the American landscape, it nonetheless forms the foundation of both Pynchon’s and Coover’s work. Though Irving’s writing style has often been called exceedingly British sounding, his narratives are steeped in American history and the American way of life. Both Thomas Pynchon and Robert Coover on the other hand belong to the postmodern age and deal with experimental fictionRead MoreScramble for Africa1841 Words   |  8 PagesWhat were the major historical factors explaining ‘the scramble for Africa’? In order to approach this essay question, my analysis will be divided into two parts. The first section will define what the scramble for Africa means. In the subsequent sections, I will refer to the case history of colonization of Africa by some European countries, the motives behind their actions and its consequences on Africa particularly. The scramble for Africa was described as the golden period of European expansionism

Jay Gatsby Free Essays

Jay Gatsby Jay Gatsby, the main character in F. Scott Fitzgerald’s novel, The Great Gatsby, is a materialistic man, trying to live out the American Dream in the 1920’s. But, his way of life does not get him the woman of his dreams, and eventually leads to his death. We will write a custom essay sample on Jay Gatsby or any similar topic only for you Order Now He is an extremely wealthy man, but despite all of his money, is very lonely. Although he never gets the woman he wants, Gatsby was a dreamer. He was motivated to reinvent himself and buy his way through life, with a dream to recreate the past. Jay Gatsby was materialistic from the beginning. From his childhood, to his adult life, he dreamed of being rich. His parents were not wealthy and he grew up in the middle class, but he had always wanted lots of money. Nick Carraway states, â€Å"He was a son of God—a phrase which, if it means anything, it means just that—and he must be about His father’s business, the service of a vast, vulgar, and meretricious beauty† (Fitzgerald 104). No matter how he did it, Gatsby was going to be rich. From age seventeen he was determined and he would stick with his goal. According to critic Chikako D. Kumamoto, Gatsby’s â€Å"vast, vulgar, and meretricious† dream was shared by a social climbing. Nick finally figures out Gatsby’s plans with Daisy Buchannan and says, â€Å"He had waited five years and bought a mansion where he dispensed starlight to casual moths—so that he could come over some afternoon to a stranger’s garden† (Fitzgerald 80). Everything Gatsby did was to win back Daisy’s love. Being a materialist caused him to throw outrageous parties in hopes that one day, Daisy would show up to one. He believed that his money was the only way to win her over. Jay Gatsby was clearly a lonely man. He had all the money in the world to buy anything except for the woman of his dreams, Daisy. Throughout the whole novel, The Great Gatsby, he appears to be bored and alone. â€Å"Your place looks like the World’s fair† Nick Carraway says to Gatsby (Fitzgerald 86). Even to his death, no one cared enough about him to come to his funeral. Carraway tells us, â€Å"but neither a wire nor Mr. Wolfshiem arrived; no one arrived except more police and photographers and newspaper men† (Fitzgerald 110). Striving for only two things in his life never made him very popular. He threw extravagant parties, but no one knew who he was or even liked him for that matter. According to critic Brian Sutton, Gatsby goes to spectacular lengths to try to achieve what Nick Carraway calls â€Å"his incorruptible dream† (Fitzgerald 155). But, unfortunately Gatsby never gets the woman he longs for. Nick tells us, â€Å"After his embarrassment and his unreasoning joy he was consumed with wonder at her presence† (Fitzgerald 99). While Gatsby may have loved the real Daisy, the love that survived over time was of his dream-like conception of her. Jay Gatsby lived a life he dreamed of having but, he dreamed of getting Daisy back and never actually did. Nick tells Gatsby, â€Å"You can’t repeat the past† and Gatsby, being the stubborn man he is, says â€Å"Can’t repeat the past? Why of course you can! † (Fitzgerald 117). His dreams got in the way. Critic Brian Sutton states that Gatsby’s chances of winning Daisy were dead. Finding out the way Gatsby got his money ruined everything he could have had with Daisy. Throughout his whole life, Jay Gatsby would do anything to achieve â€Å"his incorruptible dream† (Fitzgerald 155). Daisy’s marriage seems so awful during most of the novel; it is almost like Gatsby is going to make his dreams come true. His efforts are so unimaginable and Daisy appears to be looking for a way out. Because Jay Gatsby is materialistic, lonely, and a dreamer, he is killed. His own attitude caused his death. Living out the American Dream, trying to become wealthy, and striving to win Daisy’s love did not pay off for Gatsby in the end. Works Cited Fitzgerald, F. Scott. The Great Gatsby. New York: Scribner, 2004. Print. Kumamoto, Chikako. â€Å"Fitzgerald’s The Great Gatsby. † Explicator 60 (Fall 2001): 37-41. Literature Resource Center. Web. 09 Nov. 2012. Sutton, Brian. â€Å"Fitzgerald’s The Great Gatsby. † Explicator 59 (Fall 2000): 37-9. Literature Resource Center. Web. 09 Nov. 2012. How to cite Jay Gatsby, Essay examples

Interview with Simone Eyles-Free-Samples-Myassignmenthelp.com

Question: Discuss about the Significant insights given by the entrepreneurs who achieved wealth and success in the recent years. Answer: Introduction Entrepreneurship can be understood as the capacity of an individual to develop and manage a business by taking risks and rewards in return. For being a successful entrepreneurship, a person needs to have a particular set of characteristics and skills which helps in getting success to the business (Nandan, 2013). This report has been prepared with an aim to discuss and focus on the significant insights given by the entrepreneurs who achieved wealth and success in the recent years. This report is based on the interview conducted with Simone Eyles, who is a founder of a coffee ordering application which helps users to order through technology. The meaningful insights given by the fresh and young entrepreneur will be discussed so that much can be learned from her experience and hard work. Simone Eyles: Founder of 365 cups The interview is held with the founder of online ordering venture 365 cups, Simone Eyles. She is a women entrepreneur and is successful in her business. 365 cups is a platform where the users can place order from all over the world right from the small rural cafes to the large multinationals. The business runs on technology and Simone Eyles started from 365 cups is now serving up to 45000 users in Australia and New Zealand. Simone Eyles, the founder of the venture shares her experience in an interview that she had a long held dream of opening her own caf which is why she came up with the idea of 365 cups (Shying, 2014). From her background, it is clear that she is the proud owner of two businesses which are 365 cups and Working spaces HQ. For starting a business like 365 cups, the founder shares that with the help of technology, she is able to serve huge number of customers across Australia and New Zealand. The brand started with an application and now has 3 stores in New South Wales. So, basically from a small city of Wagga wagga, the founder reached the whole country. 365 cups and inspiration for the business 365 cups is all about linking the customers with the infrastructure, service and technology so that the needs of the tech savvy customers can be met. The customers now, order from their laptops, phones, tablets and the list goes on. The founder shares that the biggest influencer to stat up this business is the people who are in her support. The women inspire her to be the successful and honest entrepreneur. She clears that the natural progression in her success of the business inspired her more to go ahead (Drucker, 2014). The founder explains that she influence others by executing the ideas. Getting ideas or planning about them is easy but executing them is something which needs courage and is the most required skill for a successful entrepreneur. This shows that the young entrepreneurs should start with a good idea, the money and success will follow slowly and gradually. The founder believes in people. She likes talking to its customers and getting connected to them (Carter Jones-Evans, 2009). The wall is provided to the customers where they can post their reviews, photos and messages which is a kind of promotion and advertising. The business also advertises itself on Twitter and Facebook which involves a lot of target customers. From this, I learned that it is important to believe in your people when you want to carry on business with them. An entrepreneur should be honest to its people and should take along its people which will ultimately contribute to the success of the business (Kirzner, 2015). The founder believes that getting connected to the customers and adapting technology and trends made the business successful. It is anticipating even the worst case scenario which helped the entrepreneur to struggle and push forward the business. The founder also discussed the importance of planning in setting up the business and to face and compete with the worst scenarios of the business. Also, tracking the financial progress is equally important so that the money earned can be uti8lisedeeffectively and do not get waste. Being organised is another key tactic which is needed to manage business. The resources need to be organised and back up resources need to be maintained (Wiklund, et al., 2011). Entrepreneurship as per the founder of 365 cups is delivering the value consistently and having clarity of thought. An entrepreneur needs to have the understanding of his/ her own business and how it will contribute in the life of the consumers. Success, on the other hand is taken as the security in terms of finances and profession (Naud, 2010). It is getting the support from the people and being admired by them. To the young entrepreneurs, the founder suggests that there should be a level of responsibility with the people working in the business whether its a family member, friend or employee. Today, an entrepreneur should focus n the presentation of the business which is both offline and online. Promotions of the business can lead it to success. An entrepreneur listens to the heart and should put those ideas into execution by continuing listening to them. Also, the suggestions and the recommendations given by others should be considered for delivering better results to the users (K uratko Audretsch, 2009). The interview conducted made me learn that it is important to plan the idea and to execute it well. But the most important thing is to continue it. The success should be celebrated when more success is gained. I gained insights that a market needs new innovations and ideas so thinking about business is not a bad idea. It is very important to have thinking like an entrepreneur where one takes initiative, ready for the risks, have flexibility and generate secure future (Langevang Gough, 2012). A good market research is important to get a rough idea about the market and the business idea will run or not. To encourage the spirit of entrepreneurship, support is necessary from the family and friends. On a personal level I learned that when proper Research and development is not done in the market, it discourage the business and create chances for failure. It is also very important to manage time and organise business activities in a way which leads to the success of most of the business p lans (Awogbenle Iwuamadi, 2010). The valuable insights gained from an interview include the learning that there is something to learn always from each other. One person does not know everything. An entrepreneur should embrace what makes him/ her unique. Every entrepreneur is unique in own sense and this brings innovation ain business. The lessons learned from the successful entrepreneur increases the chances of getting success. Working with people is another important learning (Littunen Niittykangas, 2010). It is people who bring change by supporting the ideas and business of an entrepreneur. It is important to believe in own ideas and concepts so that the entrepreneur is able to influence others. It is also very important to follow and abide by the trends and technology without which the business will be out-dated and will lack innovation. New and different always attract the attention of people and help in gaining success and praises from most of the people. In all, in the age of globalisation, the business shoul d be ready to accept the changes and manage diversity in the cross cultural business environment of business (Arogundade, 2011). Conclusion To conclude, I would say that this interview has provided deep and valuable insights which would not have been possible otherwise. The findings of this interview or report prepared will be meaningful and will contribute in the process of being a successful entrepreneur. I have my own plans in future to start up a business which is influenced by the views and opinions of the famous entrepreneur like Simone Eyles. I learned that one should not be afraid of taking risks and delegating tasks to the people in the team. I learned how to organise things and time together to make the optimum use of it. This can be used by me in visualising my goals and success. Also, effective communication and listening properly could reduce misconceptions created among the team members which could reduce the quality of performance. Time is valuable which could be used properly to create effective results in the business. I learned that it is very important to create your own value in the world. It can be d one by keeping the things simple and by being a self-motivator in the world of business where there is tough competition. It is noted that being an entrepreneur is not easy rather it is about maintaining a perfect blend of friendly and professional attitude for the followers and with the clients. Everyone is to be treated respectfully to lead everyone without any hesitation in anyone. This interview could be a game changer for me and my business plans in future. References Arogundade, B B (2011). Entrepreneurship education: An imperative for sustainable development in Nigeria.Journal of emerging trends in educational research and policy studies (JETERAPS),2(1), 26-29. Awogbenle, A C Iwuamadi, K C (2010). Youth unemployment: Entrepreneurship development programme as an intervention mechanism.African Journal of Business Management,4(6), 831. by Sara Carter, E Jones-Evans, D. (2009). Enterprise and small business: Principles, practice and policy.Strategic Direction,25(5). Drucker, P (2014).Innovation and entrepreneurship. Routledge. Kirzner, I M (2015).Competition and entrepreneurship. University of Chicago press. Kuratko, D F Audretsch, D B (2009). Strategic entrepreneurship: exploring different perspectives of an emerging concept.Entrepreneurship Theory and Practice,33(1), 1-17. Langevang, T Gough, K V (2012). Diverging pathways: young female employment and entrepreneurship in sub?Saharan Africa.The Geographical Journal,178(3), 242-252. Littunen, H Niittykangas, H (2010). The rapid growth of young firms during various stages of entrepreneurship.Journal of Small Business and Enterprise Development,17(1), 8-31. Nandan, H (2013).Fundamentals of entrepreneurship. PHI Learning Pvt. Ltd. Naud, W. (2010).Entrepreneurship and economic development. Springer. Shying, O 2014, 365 cups become reality, The Daily Advertiser. Wiklund, J, Davidsson, P, Audretsch, D B Karlsson, C (2011). The future of entrepreneurship research.Entrepreneurship Theory and Practice,35(1), 1-9.

How Oil Prices Affect Gross Domestic Product (GDP)

Every country needs some oil to run its errands, but the oil producing nations (OPEC nations) are few in number. From an economic point of view, whenever the suppliers are few, they tend to manipulate the prices of their products. Essentially, OPEC nations agree on the amount of oil to produce and the prices of selling the oil. OPEC nations discuss the target markets, and they dictate the distributing channels for their own good.Advertising We will write a custom research paper sample on How Oil Prices Affect Gross Domestic Product (GDP) specifically for you for only $16.05 $11/page Learn More In a span of one month, oil prices can raise considerably, but since oil has no substitute, the demand for oil remains inelastic. Indeed, oil prices affect nations’ GDPs in one way or another. This paper will give a clear outlay of the effect of oil prices on the various variables in the GDP equation using clear illustrations and graphs. The gross domestic p roduct (GDP) presents the market value of the economic activities within a nation. The GPD sums all the amounts of monies spent in a nation. The four factors that measure the GPD include the consumption levels of the consumers, investment levels of businesses (amount businesses spend on purchasing goods and services), the government spending, and the net exports. In this case, the net exports amount is the difference between the exports and imports. Oil prices have an indirect effect on each factor of the GDP equation, which in turn affects the nation’s GDP levels (Maeda 112). GDP = C +I +G+X Where C is the total consumption of the consumers, I is the investment levels of the businesses,Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More G is the federal, state and government spending, and X is the net exports (exports minus imports). Oil prices and their effects on the total c onsumption of consumers Consumption is directly proportional to the income levels of a household because people can only spend the amount of money that they earn. However, not all the money is spent; earners have to pay income taxes to the government, and some households save some of their income. Whenever the oil prices are high, businesses tend to increase the prices of their products to cater for the rise in the production costs (Pinno and Serletis 202). This factor decreases the consumers’ spending powers, and consumers tend to buy few items. Essentially, some consumers would decide to save their money rather than spend it with the hope that the prices of products would decrease in the near future. The price elasticity of demand will play a critical role in such a case, where, consumers will only purchase necessities and shy away from buying luxuries. Consumer spending forms the largest part of the GPD in most nations. Therefore, whenever the oil prices rise, they reduce the consumer spending indirectly, and consequently, the GPD reduces. In the United States, two third of the GDP comprises of consumer spending. Therefore, a decrease in consumer spending would have a significant effect on the GPD of the US (Kilian and Vigfusson 79). Oil prices and their effects on the total investments As stated before, business investment is the amount of money that businesses spend on purchasing products and services. Moreover, businesses make long-term investments through the purchase of land, fixtures, and equipments. A rise in oil prices is a shock on the supply side of the economy and it has adverse consequences on the economies of countries (Kim 140).Advertising We will write a custom research paper sample on How Oil Prices Affect Gross Domestic Product (GDP) specifically for you for only $16.05 $11/page Learn More Obviously, businesses will experience an increase in the variable costs, especially for manufacturing businesses th at heavily depend on oil. The businesses will resolve on increasing the prices of their products to remain at the same profit margins. From an economic point of view, an increase in prices causes the demand of products to contract, and the businesses are likely to have reduced sales than before. If the oil prices continue to rise, there is a possibility of an economy to experience an inflationary effect. Essentially, the decreased sales means decreased profits; therefore, businesses will have insufficient money to invest. The amount that businesses invest contributes to about 15% of the nation’s GDP. Although the 15% contribution to the nation’s GDP is considerably small, a decrease in the total investments will decrease the nation’s GDP. Oil prices and their effects on the total government spending The government is an overseer that responds to tough economic conditions of the nation. As described, an increase in oil prices is a supply side shock that would in flate the price levels of products and deflate the real output of the economy. The government can respond by relaxing the monetary policy through decreasing the interest rates and taxes. Therefore, businesses will have their production costs somewhat reduced because of the reduced taxes. Another alternative would be increasing government spending by subsidizing the costs prices. However, the options may have adverse consequences on the general economy. Increasing the oil subsidy bill would mean that the government would have to increase its budget and this would affect the other sectors of the economy. Although upstream companies like the Oil And Natural Gas Corporation and Oil India would share a third of the subsidy burdens, the government may have to make short-term borrowings to cater for the unanticipated shock. On the other hand, decreasing interest rates and taxes would decrease the government revenues. Essentially, rise is oil prices would decrease the government spending on goods and services and increase its spending on transfer payments, which is a threat to the GDP. Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Oil prices and their effects on the total net exports If there is an increase in fuel prices, a country that exports manufactured goods may experience an increase in the production costs of the products that it exports. Therefore, the country may lower its productivity and export less of the products than before. Moreover, the country is forced to spend more money on importing the essential petroleum product than before. The two incidences would bring an imbalance on the total net exports and the country may have negative net exports. Conclusion Clearly, a rise in oil prices is an external shock that affects economies in one way or another. Economies that entirely depend on oil-energy for their production processes would suffer greatly if oil prices increased drastically. Sometimes the oil prices drop, but they have negligible effects on the GDP. Therefore, to reduce the effect of the increase in oil prices, companies should find ways of containing other costs and increasing the la bor productivity (Ravazzolo and Rothman 461). It is clear that oil is an essential product with an inelastic demand. Therefore, governments that do not reserve enough oil when the oil prices drop will continue suffering from the supply shocks. It would be advisable for governments to build oil reserves that would greatly help the nation during shortages and during shocks. Works Cited Kilian, Lutz and Robert Vigfusson. â€Å"Do Oil Prices Help Forecast U.S. Real GDP? The Role of Nonlinearities and Asymmetries.† Journal of Business Economic Statistics 31.1 (2013): 78-93. Print. Kim, Dong. â€Å"What Is An Oil Shock? Panel Data Evidence.† Empirical Economics 43.1 (2012): 121-143. Print. Maeda, Akira. â€Å"On the Oil Price-GDP Relationship.† Japanese Economy 35.1 (2008): 99-127. Print. Pinno, Karl and Apostolos Serletis. â€Å"Oil Price Uncertainty and Industrial Production.† Energy Journal 34.3 (2013): 191-216. Print. Ravazzolo, Francesco and Philip Rothma n. â€Å"Oil and U.S. GDP: A Real-Time Out-Of-Sample Examination.† Journal of Money, Credit Banking 45.3 (2013): 449-463. Print. This research paper on How Oil Prices Affect Gross Domestic Product (GDP) was written and submitted by user Cannon Ortega to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

World War I and The Treaty of Brest-Litovsk

World War I and The Treaty of Brest-Litovsk After a nearly a year of turmoil in Russia, the Bolsheviks ascended to power in November 1917 after the October Revolution (Russia still used the Julian calendar). As ending Russias involvement in World War I was a key tenet of the Bolshevik platform, new leader Vladimir Lenin immediately called for a three-month armistice. Though initially wary of dealing with the revolutionaries, the Central Powers (Germany, Austro-Hungarian Empire, Bulgaria, and the Ottoman Empire) finally agreed to a ceasefire in early December and made plans to meet with Lenins representatives later in the month. Initial Talks Joined by representatives from the Ottoman Empire, the Germans and Austrians arrived at Brest-Litovsk (present-day Brest, Belarus) and opened talks on December 22. Though the German delegation was led by Foreign Secretary Richard von KÃ ¼hlmann, it fell upon General Max Hoffmann- who was Chief of Staff of the German armies on the Eastern Front- to serve as their chief negotiator. The Austro-Hungarian Empire was represented by Foreign Minister Ottokar Czernin, while the Ottomans were overseen by Talat Pasha. The Bolshevik delegation was headed by Peoples Commissar for Foreign Affairs Leon Trotsky who was aided by Adolph Joffre. Initial Proposals Though in a weak position, the Bolsheviks stated that they desired peace without annexations or indemnities, meaning an end to the fighting without loss of land or reparations. This was rebuffed by the Germans whose troops occupied large swaths of Russian territory. In offering their proposal, the Germans demanded independence for Poland and Lithuania. As the Bolsheviks were unwilling to cede territory, the talks stalled. Believing that the Germans were eager to conclude a peace treaty to free troops for use on the Western Front before the Americans could arrive in large numbers, Trotsky dragged his feet, believing that moderate peace could be achieved. He also hoped that the Bolshevik revolution would spread to Germany negating the need to conclude a treaty. Trotskys delaying tactics only worked to anger the Germans and Austrians. Unwilling to sign harsh peace terms and not believing that he could delay further, he withdrew the Bolshevik delegation from the talks on February 10, 1918, declaring a unilateral end to hostilities. The German Response Reacting to Trotskys breaking off of the talks, the Germans and Austrians notified the Bolsheviks that they would resume hostilities after February 17 if the situation was not resolved. These threats were ignored by Lenins government. On February 18, German, Austrian, Ottoman, and Bulgarian troops began advancing and met little organized resistance. That evening, the Bolshevik government decided to accept the German terms. Contacting the Germans, they received no response for three days. During that time, troops from the Central Powers occupied the Baltic nations, Belarus, and most of Ukraine (Map). Responding on February 21, the Germans introduced harsher terms which briefly made Lenin debate continuing the fight. Recognizing that further resistance would be futile and with the German fleet moving towards Petrograd, the Bolsheviks voted to accept the terms two days later. Re-opening talks, the Bolsheviks signed the Treaty of Brest-Litovsk on March 3. It was ratified twelve days later. Though Lenins government had achieved its goal of exiting the conflict, it was forced to do so in brutally humiliating fashion and at great cost. Terms of the Treaty of Brest-Litovsk By the terms of the treaty, Russia ceded more than 290,000 square miles of land and around a quarter of its population. In addition, the lost territory contained approximately a quarter of the nations industry and 90 percent of its coal mines. This territory effectively contained the countries of Finland, Latvia, Lithuania, Estonia, and Belarus from which the Germans intended to form client states under the rule of various aristocrats. Also, all Turkish lands lost in the Russo-Turkish War of 1877-1878 were to be returned to the Ottoman Empire. Long-Term Effects of the Treaty The Treaty of Brest-Litovsk only remained in effect until that November. Though Germany had made massive territorial gains, it took a large amount of manpower to maintain the occupation. This detracted from the number of men available for duty on the Western Front. On November 5, Germany renounced the treaty due to a constant stream of revolutionary propaganda emanating from Russia. With the German acceptance of the armistice on November 11, the Bolsheviks quickly annulled the treaty. Though the independence of Poland and Finland was largely accepted, they remained angered by the loss of the Baltic states. While the fate of territory such as Poland was addressed at the Paris Peace Conference in 1919, other lands such as Ukraine and Belarus fell under Bolshevik control during the Russian Civil War. Over the next twenty years, the Soviet Union worked to regain the land lost by the treaty. This saw them fight Finland in the Winter War as well as conclude the Molotov-Ribbentrop Pact with Nazi Germany. By this agreement, they annexed the Baltic states and claimed the eastern part of Poland following the German invasion at the start of World War II. Selected Sources Avalon Project: Treaty of Brest-LitovskGuide to Russia: Treaty of Brest-LitovskFirst World War: Treaty of Brest-Litovsk

Machiavelli The Prince Essay Example | Topics and Well Written Essays - 750 words - 1

Machiavelli The Prince - Essay Example oted to Lorenzo de Medici), so that he might get back his administration posts and start the realization of his political plans.  The writing is worth-considering, therefore the given paper will discuss the relevance  of the Machiavelli’s advice in the modern world.   Ã‚  Ã‚  Ã‚  Ã‚   The Prince is considered to be unique. It represents a large recommendation the author provides the Prince with. The Prince is given a valuable advice on how to receive new lands in his possession and how to implement the necessary control in these new lands (Machiavelli, 1997). It is clear that this advice can’t be considered as relevant in the modern world, because now we do not solve our problems with the help of wars. Now we have legislation as the main orientation in political decision making. However, for the time, when The Prince was created, it represented a valuable advice: Because how one ought to live is so far removed from how one lives that he who lets go of what is done for that which one ought to do sooner learns ruin than his own preservation: because a man who might want to make a show of goodness in all things necessarily comes to ruin among so many who are not good. Because of this it is necessary for a prince, wanting to maintain himself, to learn how to be able to be not good and to use this and not use it according to necessity. (Machiavelli, 1997) It is clear, that this advice should by no means be used by modern politicians because it can destroy democratic principles, which have been created during many centuries, however the recommendation is practical for the Machiavelli’s time (Machiavelli, 1997). Notwithstanding that the advice of Machiavelli concerning acquiring new lands can’t be used today, his writing The Prince contains many other valuable and relevant advices, which should be remembered by the contemporary rulers: Some people want to rule, others want to be ruled. It is important to remember that some people are ready to work and other are

Poetry Analysis Essay Example | Topics and Well Written Essays - 2500 words

Poetry Analysis - Essay Example Connotations: Rhyme scheme not regular, Sensuous imagery-the waves sound- lights falling etc. Romantic imagery. Historical reference to Sophocles. Irregular length of stanzas. Free verse. Language simple. Sea of Faith- image of a sad person. Pathetic fallacy- human feelings are attributed to sea. Light is gone- symbolizes uncertaininty. Sea of Faith- symbolizes religion. Adjectives- â€Å"tremulous cadence†, â€Å"note of eternal sadness†. Attitude: The poem opens with a romantic tone. The melancholic note is added as the poet reflects on the nature of human life. Sadness and sorrowful. â€Å"Ah† indicates pain and â€Å"let us be true† indicates acceptance. Theme: The poem is about maturity and reflects the poet’s understanding of life. Life brings sadness. Like the beach is beautiful but the melancholic note can be heard. Similarly love is beautiful but it brings with itself miseries, sorrow and loneliness. Title: Poem appears to be about the dreams that have not been fulfilled. The alliterative â€Å"d† in the title give a hard impression which prepares the reader for the harsh consequences of the dreams that have been left unfulfilled. Paraphrasing: The poet questions about the end result of such dreams that have been left unfulfilled. He asks if they become dry, sore or rotten. He compares them with a dry raisen or like a sore. He indicates that unfulfilled dreams can cause social and political damage. Connotations: Short. Alliterative â€Å"d†- to stress harshness. Dreams deferred are compared to dry raisen, sore etc. Symbolism: dream could be American dream or negro aspirations. Hot sun- circumstances. Images of decay and waste to symbolize the dreamer’s fate. Title: Is aptly used since it discusses the consequences of the unfulfilled dreams. The dream could be the American dream of success that attracts many. Or the fate of black people in America victimized racially and socially. Theme: The poem is about dreams

Understanding the marketplace Essay Example | Topics and Well Written Essays - 250 words

Understanding the marketplace - Essay Example This results from the fact that the business can conduct a survey and hence research on market trends and the techniques employed by other producers and therefore improve on their products. Statistics from a global perspective are effective when making vital decisions on production (Harrington, 2007). This is mainly because since standardized products are popular, it is easy for the producers to make an assessment on best practices that can help improve their production. This methodology is usually effective for organizations whose performance is deteriorating, as standardization helps formulate and implement effective strategies. It should also be noted that not all organizations that sell standardized products succeed. In as much as standardization may be favorable due to many reasons, other factors such as promoting and setting at prices may make it unfavorable (Quelch, & Deshpande, 2004). This prompts local market conditions to take control of standardization. In an argument by Harrington (2007), product decisions are crucial as they determine the success or failure of the business. Surveys show that 50 percent of businesses decline because they do not understand the market demands of their products. On the same note, two-thirds of them succeed by supplying their goods to regions where they are popular. From the statistics, it is advisable to standardize products of global consumption such as medicine and medical implements. Therefore, before a business decides to standardize its products, it should be capable of establishing whether their products into local, international or multinational categories. This will give them hints on whether the products should be groomed for either local or international

The Prologue To The Gospel Of John Religion Essay

The Prologue To The Gospel Of John Religion Essay The Gospel of John was writing by one of Jesus disciples by the name of John (thus the title of the book). It was written around A.D. 80-95 and the theme of the book is Jesus as the Son of God. We notice in the other Gospels, known as the Synoptics because of the close similarities in each account, that Jesus is portrayed in many different ways. In Matthew he is seen as the King of the Jews and was very much directed to a Jewish audience. In Mark he is seen as the Suffering Servant, which meant a lot to the Romans, to whom this text was directed to. In Luke he is the Perfect Man, an great achievement in the eyes of the Greeks and other Gentiles. Although all these facts are true and can be seen in all the Gospels, John, whose account was written long after the others, was drawn to write an account directed to all believers. John goes into the divinity of Christ and we see this from the very first chapter. In this book, Jesus is the Logos and he is the I AM. In this essay I will only look at the first chapter of John, in particular verses 1 through to 18 and we will first and foremost discuss Christ as the Logos, afterwhich we will look at the three main characteristics of the Logos in terms of his relation to the Father, his relation to the World and his relation to humanity. We will then conclude. The first thing we notice when we start reading the Gospel of John is its close similarity to Genesis chapter one verse one and that he introduces his book very differently to the other disciples turned apostles. All the writers begin with a different look to the story of Jesus. Matthew begins with the geneology of Jesus from Josephs line, Luke also uses a geneology starting point, but from Marys line, Mark goes straight into Jesus baptism. But John decided to start from the beginning. Note however that this is not the same beginning as mentioned in the Book of Genesis. Although Genesis starts with the beginning of creation, John goes beyond that. A.M. Hunter says no book ever opened more magnificently. [] John goes back to the very beginning of history, even beyond it, as to say There is only one true perspective in which to see this story you must see it in the light of eternity.  [1]  . Therefore, although the Gospel begins in the same way as Genesis, they speak of two differ ent creations. Genesis speaks of the old creation, whereas John speaks of the beginning of a new creation. For John to say in the beginning was the Word already starts proving Jesus immortality. One might think that he was then a part of Creation. John goes on to say and the Word was with God and the Word was God which not only proves his immortality but goes beyond that to prove his divinity. To go on to say that He was in the beginning with God seems to be a repetition of verse 1, but John actually reinforces what he is saying to show us that Jesus was not a part of creation, but he was a part of the creation process. He was actually the Word that spoke creation into existence. This is shown in two ways: Jesus is firstly referred to as the Word or in Greek, the Logos. What does this mean? A word can be defined as a means of communication, the expression of what is in ones mind  [2]  . Therefore the verse can be translated in the beginning God expressed himself. However, some s till find the translation of logos to word inadequate. One author explains that: To a Jew therefore the Word meant God showing himself in power, wisdom and love. On the other hand, to a Greek, especially if he had read the Stoic philosophers, the Logos meant the Rational Principle permeatting all reality.  [3]   Even so, in using the term Logos to describe Christ, John presents him as the very Word of God that God himself speaks. Jesus is then referred to as the person through whom all things were made. Jesus is therefore, as we have said before, the very word that brought creation into existence. God continue to speak to us through his Son, who is the Word as explained in Hebrews 1:1-3. The concept of the Logos is very deep however, which has brought much debate. In this passage, we see the main characteristics of Jesus operating as the Word. We see his relation to the Father first of all. One commentary says He was the person existing from eternity, distinct from but in eternal fellowship with the Father  [4]  . Next we go on to see Christs relation to the World in that through him the world was created. And then finally when we go on to read further down in verse 14, we see his relation to humanity. He became flesh and dwelt among us. For the rest of this essay, we will look into thes e three characteristics. Looking at the first few verses, in particular verses 1-5, we see the Words relation to God the Father. This is seen in the fact that the Word has always been in pre-existence with the Father. He was not only in pre-existence with God, but he is God himself. This is also seen in the fact that he possesses attributes of God such as being the Light. God is seen has the light in Old Testament scriptures such as Psalm 4:6 or Isaiah 2:5. Jesus is the Light of the World (Matt. 5:14). In his relation to the Father, Christ can therefore be seen as divine. Their relationship is so strong that through him all things were made; without him nothing was made that has been made (v.3). We therefore learn that God created through his agent the Word and there is nothing at all that was or could have been created without him. To deny his existence therefore is to deny that of God. John therefore affirms the pre-existence, the personality and the divinity of Christ in presenting him as the Word. The Word is not only seen as the light, but he is also Life itself. Hunter explains that the Divine Word was the source of life as well as the agent of creation  [5]  . He goes on to say that the word life can be referred to as a quickening power  [6]  and calls the light moral and spiritual illumination  [7]  . This brings us to the Words relation to the World, his very own creation. It was through Christ that God the Father created and now sustains, as seen in scriptures such as Colossians 1:16 and Hebrews 1:2. In verses 6-7, the author starts by introducing the one who had been called to prepare the way, or to be the witness for the Light that was to come into the world. The author is sure to emphasize that he is the not the light but has only come to testify about the light. As we look into verses 9-10, we see how they tell of the Incarnation of Christ and what happened: the Light was coming into the world. In verse 11, we notice that the world he came to did not reco gnize him. The word own here appears twice in this verse and could mean the following: the first own could refer to the world in general and the second to his own people in terms of the Israelite who did not receive him. However, when Jesus came to the earth, he came to the people of Israel, who were Gods chosen people. Jesus would only be taking to the World through the apostles work and throughout Church History. This is obviously debatable, but I believe Jesus came unto his own as in his own creation, but his own (as in the people) did not respond or accept. Bruce, who uses the English Standard Version in his commentary, backs this statement by explaining the Greek term for the word own: His own place translated the neuter plural ta idia; his own people translates the masculine plural hoi idioi. [à ¢Ã¢â€š ¬Ã‚ ¦] This is not a mere repetition of verse 10; it particularizes what was said more generally there. The Word of God, which came to the world of mankind in general, came in form of special revelation to the people of Israel [à ¢Ã¢â€š ¬Ã‚ ¦].  [8]   Therefore we see how he relates to the world in that he came into the world and was amongst the people of world, performing miracles, signs and wonders, showing his love, and yet the relationship between Creator and creation is so ruptured to the point where the Creator is put to death on a cross by his very own creation. However, there is hope for the ones who do want to choose to believe in him and he gave these ones the power to be reconciled with him and reborn spiritual. Let us now look at the word in relation to humanity on a whole. In becoming flesh (v.14) he became just like the creation. In Jesus, God became a human being, having the same nature as humanity, but without sin  [9]  . Through the gateway of human birth, the Incarnation is further explained in verse 14a. The rest of this verse indicates his dwelling among us. This dwelling is translated as Christ making his tabernacle among us. One author explained how the term tabernacle could suggest a temporary stay, as the tabernacle in the Old Testament was a tent that was pitched up to worship God. In this tent, the people would go to worship and experience the power of God. This same author comments that the Greek verb eskenosen means literally pitched his tent [à ¢Ã¢â€š ¬Ã‚ ¦]; the consonants s-k-n would remind the knowledgeable reader of the Hebrew Shekinah, the word the rabbis used for the Divine Presence among his people Israel  [10]  . This would explain the following the final p art of verse 14, when the author explains that we have seen his glory. The we here most likely refer to the Disciples who were with him, but denotes the idea of the Shekinah Glory concept mentioned earlier. The rest of the verses seem to carry on from where he left off, in the sense that verses 10-14 seems like a parenthesis between verses 9 and 15, since in verse 15 he goes on to speak about John the Baptist. The author ends this prologue well in saying: No one has ever seen God, but God the One and Only, who is at the Fathers side, has made him known (v.18). Here again, the author proves the deity of Jesus Christ by interchangeably referring to him as God and as the Sent One, showing signs of the Trinity concept, which we are not able to discuss in this essay. In this essay, we look at the divinity of Jesus Christ. He saw that He is God, he is Creator, He is omnipresent and that he is Light and Life. We then looked at his relation to his Father, to the world and to humanity in general. He was in every sense God but in order to save us he made himself human in every sense. The story of Jesus is now about to be unfolded in the rest of this book, keeping in mind who he really is.

Oedipus the King: Unrealistic or Realistic Essay -- Oedipus the King

Oedipus Rex – Unrealistic or Realistic  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚        Ã‚   Let’s explore the traces of realsim and its opposite in Sophocles’ tragedy, Oedipus Rex.    The first obvious question is: How can this drama possibly be considered realistic since it relies so heavily on predetermination and fate in the life of the protagonist, Oedipus? As Jocasta recounts to Oedipus:    An oracle Once came to Laius (I will not say 'Twas from the Delphic god himself, but from His ministers) declaring he was doomed To perish by the hand of his own son, A child that should be born to him by me.    Charles Segal in Oedipus Tyrannus has a solid rebuttal to what appears predestination:    The issues of destiny, predetermination, and foreknowledge are raised as problems, not as dogma. How much control do we have over the shape of our lives? How much of what happens to us is due to heredity, to accidents, to sheer luck. . . . These are the questions that the play raises, and it raises them as questions. It shows us men and women who are both powerful and helpless, often at the same moment. Oedipus embodies the human condition. . . . (75-76).    If this critic is correct that Oedipus embodies the human condition as it really is, then he is totally representative of reality, and not unrealistic as it might appear on first reading. Victor Ehrenberg in â€Å"Sophoclean Rulers: Oedipus† analyzes the protagonist of the tragedy and finds a balanced, realistic type who possesses the qualities of a king, including the human, realistic desire for more:    Oedipus is a ‘good king,’ a father of his people, an honest and great ruler, while at the same time an outstanding intellect. . . . He even shares the thro... ...Sophoclean Rulers: Oedipus.† In Twentieth Century Interpretations of Oedipus Rex, edited by Michael J. O’Brien. Englewood Cliffs, NJ: Prentice-Hall, Inc., 1968.    Herodotus.   The Histories. Translated by Aubrey de Selincourt. England: Penguin Books, 1972.    Segal, Charles. Oedipus Tyrannus: Tragic Heroism and the Limits of Knowledge. New York: Twayne Publishers, 1993.    â€Å"Sophocles† In Literature of the Western World, edited by Brian Wilkie and James Hurt. NewYork: Macmillan Publishing Co., 1984.    Sophocles. Oedipus Rex. Transl. by F. Storr. http://etext.lib.virginia.edu/etcbin/browse-mixed new?tag=public&images=images/modeng&data=/texts/english/modeng/parsed&part=0&id=SopOedi    Bowra, C. M.   â€Å"Sophocles’ Use of Mythology.† In Readings on Sophocles, edited by Don Nardo. San Diego, CA: Greenhaven Press, 1997.         

Hewlett Packard Spying Scandal Essay

Corporate misconduct, (or people’s misconduct so to speak) is an issue that has been dominating headline news in the American business world in recent years. Theodore Roosevelt, one time U.S. president was probably right when he said, â€Å"To educate a person in mind but not in morals is to educate a menace to society† (Platt, 1989). The American society has continued to suffer from corporate scandals, despite the fact that people are now better educated because behind each scandal and crisis is a possible lack of morals in the â€Å"educated people† running those corporations (Low et al, 2006). It should be noted that unethical behavior is not a new phenomenon in US business nor it is an issue of the US alone. Research Questions and Objectives The year 2002 witnessed the collapse of giants like Enron, Tyco, Arthur Anderson, WorldCom and less known cases like Morgan Stanley, Dupont and Prudential Financial amongst others all involved in one form of scandal or the other.   Such widespread corporate misbehaviors have left many people (including this writer) to wonder where things are going wrong. Should blame be placed on perceived weaknesses of legislation and accounting standards? Or is it that education is not producing the type of business graduates needed to prevent such scandals? (Low et al).  Ã‚   Do the misdeeds simply involve a few â€Å"bad apples†: a smattering of corporations that make the rest of American business look bad? Or is the problem much broader than that? Further, if it is a widespread issue, what needs to be done? (Clement R. May 2006). Such are the kind of questions this study is out to seek answers to in light of the Hewlett Packard Spying scandal of 2006. Conceptual Framework This section explains what the literature on business ethics suggests for achieving ethical behavior in an organization. It is hoped that this will lay a foundation for the analysis of the recent corporate misdeed of Hewlett Packard. Business Ethics: Business ethics, Black J. (2002) is the branch of ethics that studies what standards businesses should observe in their dealings over and above compliance with the letter of the law. This covers questions such as fair dealing with their labour force, customers, suppliers, and competitors, and the impact of their activities on public health, the environment, and animal welfare. If a good reputation helps to gain and retain business, ethical conduct need not necessarily conflict with profit, but there are bound to be cases where it does. Particularly difficult questions of business ethics arise in multinational firms, where practices such as gifts to officials, which are essential to doing business at all in some countries, are regarded as criminal in others. Previous research works on business ethics have pointed out some measures that can be taken within an organization to help foster a culture of ethical behavior. Many of these studies highlight the role that top management commitment plays in developing an ethical organizational culture. Weaver, Trevino and Cochran (1999) found that the commitment of top management is essential for ethical decision making to be integrated into a firm’s culture; in other words, management’s decisions and actions in promoting the program are more effective than making sure that the program addresses a long list of ethical issues. Trevino and Brown (2004) found that top executives must manage ethical conduct proactively by means of explicit ethical leadership and conscious management of the organization’s culture. To this end, they suggest that top managers should study the cultures of their organizations to see what ethical messages are being sent. The researchers also assert that executives should communicate the importance of ethics, reward ethical behavior, and model that behavior themselves. Holmes et al (2002) found that employees are more likely to engage in ethical behavior if top management is firm in its expectations of ethical behavior of all employees, including themselves (p. 97) while Harrington (1997) concluded that, to achieve ethical behavior, top management needs to gain social consensus through changes in organization culture and by encouraging employees to live up to their responsibilities. What constitutes â€Å"unethical† behavior? It is important to determine the types of corporate behavior to consider unethical, and to decide on the time period over which the data on that behavior should be gathered. Some types of behavior may seem unethical to certain individuals but not to others (Clement R, 2006).   He however identifies three conditions that seem to signal unethical behavior: – A plea of guilty by a firm to charges of misconduct; – by courts or government agencies against a firm as solid evidence of corporate misconduct, even if the firm is still appealing the ruling. – agreement by a firm to settle charges, often by paying a fine or agreeing to other restrictions on company behavior even if the firm is not required to admit guilt. The Hewlett Packard (HP) spying scandal Origins In a Newsweek report by Kaplan D, (2006), the confrontation at Hewlett-Packard started innocently enough in January 2006 when online technology site CNET published an article about the long-term strategy at HP and other information that could only come from a director quoting an anonymous HP source. HP’s chairwoman, Patricia Dunn, fed up with the ongoing leaks told another director she wanted know whom it was. According to an internal HP e-mail, Dun then took the extra ordinary step of authorizing a team of independent electronic-security experts to spy on the January 2006 communications of other 10 directors – not the records of calls (or emails) from HP itself, but the records of phone calls made from personal accounts. That meant calls from directors’ home and their private cell phones were intercepted. Dunn acted without informing the rest of the board and this caused a boardroom fury at the world’s largest technology company. In a related story by Sakuma P. (2007), the HP boardroom-spying scheme erupted into a national scandal , September 2006, after the company disclosed that detectives it hired obtained the private phone records of directors, employees and 9 journalists in an effort to ferret out the source of media leaks. The scandal also introduced the world to â€Å"pretexting,† a shady tactic in which detectives used other people’s Social Security numbers to fool telephone companies into divulging detailed call logs. In an interview with Newsweek, Dunn said she didn’t know that the investigation would reach such heights. Consequences In two separate press releases, HP announced a number of moves that was an outcome of 2 days of teleconferences among the board. – Patricia Dunn was to step down as chairwoman. – CEO Mark Hurd will replace her. – George Keyworth, the longest serving director and one who leaked information to a CNET reporter that led to HP’s investigation was to resign immediately. – Richard Hackborn, who served on the board since 1992 would become â€Å"lead independent director†. – A criminal investigation against Patricia Dunn, Kevin Hunsaker, HP’s former ethics chief who allegedly directed the probe, and 3 private investigators was started on 4 counts: use of false or fraudulent pretenses to obtain confidential information from a public utility; unauthorized access to computer data; identity theft; and conspiracy to commit each of those crimes. Each charge carried a fine of up to 10,000 dollars and 3 years in prison. How and Why HP successfully overcame this scandal Testifying before a congressional in September 2006, Dunn said she was repeatedly reassured by HP’s lawyers about the legality of its detectives’ subterfuge. In a Business Week report, November 2006, a state judge Cunningham in California dropped the above charges against ex-Hewlett-Packard Chair Patricia Dunn after she pleaded guilty. The court however did not accept the pleas of the other three defendants and offered to dismiss the charges against them if they met two conditions – by Sept. 12   2006, they must serve 96 hours of community service and complete any court-filed restitution requests made by victims. In a related story by CNN’s Katy Byron, (September, 2006), the court dismissed Dunn’s charge because of her cancer battle, according to the attorney general’s office. The dismissal came â€Å"not because she’s innocent but because she is sick,† attorney general’s spokesman Barankin told CNN. Dunn had breast cancer in 2000 and melanoma in 2002 and was diagnosed with ovarian cancer in 2004 and is still battling it. She also underwent extensive surgery last year after doctors discovered a malignant tumor in her liver. In a CNBC news report (september 2006) Hewlett Packard agreed to pay $14.5 million to settle the lawsuit brought by California Attorney General Bill Lockyer, whose office accused the company of unfair business practices in its attempts to unmask the source of boardroom leaks. HP also implemented changes to its corporate governance policies to ensure that future internal investigations are conducted legally. There was no finding of liability against HP. The settlement includes an injunction and agreement that the California Attorney General will not pursue civil claims against HP or against its current and former directors, officers and employees. The vast majority of the settlement — $13.5 million — will fund state and local investigations into privacy rights and intellectual property violations, Lockyer said in a statement. The personal efforts of new HP chairman and CEO, Mark Hurd also contributed greatly to HP’s successfull exit from the scandal. He says â€Å"We are pleased to settle this matter with the Attorney General and are committed to ensuring that HP regains its standing as a global leader in corporate ethics and responsibility†. The company shareholders rejected a proposal that would have given investors the right to nominate directors to HP’s board. About 39 percent of HP shares entitled to vote at the company’s annual shareholder meeting favored the measure, which was supported by funds including Calpers, the largest U.S. pension fund, and the California State Teachers’ Retirement System, the No. 3 fund. The above factors culminated in a slight stock price increase of HP in September 2006 despite the fact that September 2006 was a rocky month for the company. Its stock actually rose a bit that month, ending at $36.69. It has since climbed to nearly $40 as HP continues to perform strongly in the PC and printer markets. HP today has regained its leading position as the worlds number one technology company. The Role of Business Ethics in this Success The conceptual framework of this study laid some guidelines on how to identify when a company behavior should be considered ethical or not. In the context of the widely publicized Hewlett Packard spying scandal discussed above, there is no plea of guilt by the firm nor by Patricia Dunn and the other defendents to charges of misconduct, we haven’t seen a ruling against either the Carlifornia court that handled the case nor the Securities and Exchange Commissions against HP for unethical behavior. However, HP agreed to settle charges of $14.5 million to close the case and save the goodwill of the Silicon Valley icon. The payment, by ethical standards could be considered a fine, which is an evidence of unethical behavior, by a firm. HP’s intention, perhaps, as we have seen was to save the company’s image and probably in compliance with a court injunction or lawyer’s advice. Taking a look at HP’s Standards of Business Conduct, (SBC) , we find that it embodies the fundamental principles that govern   ethical and legal obligations to HP. They pertain not only to conduct within the company but also to conduct involving HP’s customers, channel partners, suppliers and competitors. (www.hp.com). As a business, remaining profitable and viable is a must for Hewlett Packard though this is not the only concern for the company. HP seeks uncompromising integrity through what each individual can contribute — to its customers, co-workers, company and communities. HP’s business success is dependent on trusting relationships. Its reputation is founded on the personal integrity of the company’s personnel and its dedication to the principles of: (www.hp.com) – Honesty in communicating within the company and with its business partners, suppliers and customers, while at the same time protecting the company’s confidential information and trade secrets. – Excellence in its products and services, by striving to provide high-quality products and services to its customers – Responsibility for its words and actions – Compassion in its relationships with employees and the communities affected by company business – Citizenship in observance of all the laws of any country in which the company does business, respect for environmental concerns and service to the community by improving and enriching community life. – Fairness to our fellow employees, stakeholders, business partners, customers and suppliers through adherence to all applicable laws, regulations and policies, and a high standard of behavior. – Respect for fellow employees, stakeholders, business partners, customers and suppliers while showing willingness to solicit their opinions and value their feedback. Conclusion From the above, we can say that Dunn’s investigation into the leak was simply in compliance with the first principle (Honesty) of the company’s code of ethics. Her intentions were clear from the outset – to probe into an alleged boardroom leak while at the same time respecting the principles of respect and fairness (last two principles) in the investigation. That in itself shouldn’t have been a scandal. It is the methods of the investigation – pretexting that raised controversy and finally erupted into a scandal. Patricia Dunn was able to prove before congress and the courts that such an act was carried out without her knowledge, though she acknowledged that an investigation was going on, which in itself complied with company ethics.

The Autobiography Of Miss Jane Pittman Essays - Free Essays

The Autobiography Of Miss Jane Pittman Essays - Free Essays The Autobiography Of Miss Jane Pittman In the novel The Autobiography Of Miss Jane Pittman, there were many different stories about JanePittman?s life. In the movie there were not as many stories as the novel, but they were still quite interesting. The novel and the movie had many similarities and differences. Some of the similarities were very noticeable. Just from the beginning, in both the movie and the novel, Ned carried the two rocks that made the fire for Jane and Ned. Ned then moves away and writes Jane, but the letter doesn?t reach Jane for a whole year. Albert Clevoue shot Ned in both. Joe had to pay colonel Dye for getting him out of trouble with the Ku Klux Klan. Colonel Dye was selfish and asked for money as "interest", most find him just greedy. Once Jane and Joe moved away, Jane had a couple of dreams that Joe would be killed by some horse, so she went to a hoo-doo. Sure enough, Joe was killed by a horse. Later, a boy was born, and they called him "The One." His name was Jimmy. They wanted him to become a preacher, but he didn?t want to. Differences that were highly noticeable were that in the novel, the interviewer was a teacher that wanted her information for his class and in the movie, it was a magazine reporter. When Albert Clevoue died in the novel, the chariots of hell came for him, and in the movie, you don?t even hear of his death. In the novel, it was a black horse that killed Joe Pittman, and the movie, white. In conclusion, the novel had more, described the stories more thoroughly. One might find that the novel is much more enlightening than the movie, but it takes more time to read the novel than it does to watch the movie! All in all, The Autobiography Of Miss Jane Pittman was a fine novel. In the novel The Autobiography Of Miss Jane Pittman, there were many different stories about JanePittman?s life. In the movie there were not as many stories as the novel, but they were still quite interesting. The novel and the movie had many similarities and differences. Some of the similarities were very noticeable. Just from the beginning, in both the movie and the novel, Ned carried the two rocks that made the fire for Jane and Ned. Ned then moves away and writes Jane, but the letter doesn?t reach Jane for a whole year. Albert Clevoue shot Ned in both. Joe had to pay colonel Dye for getting him out of trouble with the Ku Klux Klan. Colonel Dye was selfish and asked for money as "interest", most find him just greedy. Once Jane and Joe moved away, Jane had a couple of dreams that Joe would be killed by some horse, so she went to a hoo-doo. Sure enough, Joe was killed by a horse. Later, a boy was born, and they called him "The One." His name was Jimmy. They wanted him to become a preacher, but he didn?t want to. Differences that were highly noticeable were that in the novel, the interviewer was a teacher that wanted her information for his class and in the movie, it was a magazine reporter. When Albert Clevoue died in the novel, the chariots of hell came for him, and in the movie, you don?t even hear of his death. In the novel, it was a black horse that killed Joe Pittman, and the movie, white. In conclusion, the novel had more, described the stories more thoroughly. One might find that the novel is much more enlightening than the movie, but it takes more time to read the novel than it does to watch the movie! All in all, The Autobiography Of Miss Jane Pittman was a fine novel.

The Male Child Professor Ramos Blog

The Male Child It was a sunny afternoon on 21st of April 1986; I was on my way home from school when I suddenly notice a group of people in front of our home in Lagos, Nigeria. Moving closer, I noticed my Aunt was dancing and singing in our native dialect. Suddenly, my younger sister appeared and ran towards me shouting â€Å"Mummy gave birth to a baby boy†. I ran inside the house to see my Mum and my little brother, I smiled and thought to myself that finally I have a brother just like my friends. My mum and Dad had nine children, eight daughters and one son. The male was the only son and the last child of the family. The reason why my parents decided to have so many children was the search for a male child. In Africa, a male child is considered very important because he, as they put it, will be the one to carry on the family name and legacy. If a woman cannot give birth to a male child for her husband, then she won’t be accepted by the husband’s family and the husband will go out and marry another wife that will bore him a son. Before the birth of my brother my mum went through a lot of maltreatment from her in-laws. They come to the house and threaten here with all sorts, like telling her that they will kick her and her daughters out of my father’s house or they will tell her that they will marry another wife for my dad. We the children were not treated differently, they will look at us scornfully as if we were the cause of us been born as girls. They hurl insults at us, calling us different names. They wanted my father to have an heir of his own. They always say, â€Å"Girls don’t inherit their father’s properties†. My mum was always unhappy each time she gets pregnant and gives birth to another girl child. She was desperate for a son because my dad already got 2 women pregnant in his search for a male child. he wanted a son desperately. Unfortunately, both women gave birth to girls. After the birth of my brother, there was happiness and peace written all over my mum and dad. A very big party was thrown to celebrate the birth of an heir to my father. My father was proud to show off his son to all his friends. He was the happiest man on earth. Years after the birth of my brother, my dad treated my brother differently from the rest of us. If my brother doesn’t like a food that was being cooked, then they will have to cook his own type of food separately, of which we the girls didn’t have such privileges. My brother gets away with a lot of things, like sneaking out of the house with my dad’s car and getting into an accident with it. He wasn’t scolded for it, but if any of the girls seek permission to use his car, the answer is always a big â€Å"NO†. He attended a private school while the rest of us went to government public school. This reminded me of my friend’s dad that would rather send his male children to school and tell his daughters that school is not for girls. He will tell them that a woman’s place is in her husband’s house. All his sons went to school and got good education while his wife struggled to educate her daughters. He says his daughters will leave his home eventually when they get married and change their names from his to that of their husbands. So, it’s a waste to spend money in educating them. Today, all his daughters are professionals in their fields of study. He is so proud of them now that he doesn’t hesitate to tell whoever bothers to listen how proud he is of them. We weren’t allowed to bring boys home, my mum kept telling us that it is wrong to have male friends before marriage because a girl should keep herself pure and prepare herself for her wedding night. This is not the case with my brother, he brings his female friends’ home and my mum cooks for them and laugh with them. Despite the gender inequality been practiced in my home, my sisters and I got the quality education we wanted .Today we are all graduates and doing very well in our Chimamanda Ngozi Adichie the author of We should all be feminist said â€Å"And then we do a much greater disservice to girls, because we raise them to cater to the fragile egos of males. We teach girls to shrink themselves, to make themselves smaller. We say to girls: You can have ambition, but not too much. You should aim to be successful but not too successful, otherwise you will threaten the man. If you are the breadwinner in your relationship with a man, pretend that you are not, especially in public, otherwise you will emasculate him.† This explains a society where a female is only to be seen dressed beautifully for her husband and not to be heard. A society whereby a female is not given same opportunity as a male. A society that needs recues from been gender bias. Gender equality has taught me that though physically we are different, intellectually, innovatively and creatively we are the same. Presently, we have a lot of females going into professional field that was once termed the male domain. Today, we have female professors, neurosurgeons, engineers, even female astronauts etc. Gender inequality is still a major issue around the world. Female are still considered lesser than men, they earn lesser than their male counterpart at work. Female child education in some part of Africa is still lacking. Females are underrepresented in politics. There is need for reorientation of people to start viewing women and men has equal in all areas of life. There is a saying in my country that goes like â€Å"What a man can do, a woman can do twice more†.

The Natural History Museum in London from 19th Century to Modernity Essay - 1

The Natural History Museum in London from 19th Century to Modernity - Essay Example Alfred Waterhouse changed the design from Renaissance to German Romanesque, which came to be known as the Waterhouse building up to today. This is an analytical survey at the museum’s space in relation to its interior, creator and the 19Th century society. The space inside the museum is extensive with beautifully decorated ceiling panels displaying pictures of plants from all over the world. The museum has extensive halls that house different departments within the museum. The entrance to the museum is located between two towers representing the Victorian style of architecture. There are rounded arches, made of bricks, and layered with terracotta. This design was inspired by the basalt columns at Fingals cave in western Scotland. Inside the entrance, there is a large hall with a grand staircase that leads up to the second floor that houses the galleries. Albert Waterhouse’s artistic mind made him leave the bare iron and glass exposed to express the beauty of the building materials. The outer design comprising of terracotta was both for aesthetic purpose and practical reasons (Anderson, 2004 p5). The blue colour, of the terracotta designed in relief, portrays different plants and animals as well as offering protection from the c haracteristic Victorian acidic smog. The halls in the museum are high ceilinged creating a comfortable ambience for visitors. High above the halls, there is an exhibition of sorts in the form of panels that depict various species of plants from around the world. The painted panels, on the ceiling, are in dark shades, which make the ceiling appear lower than it is. This makes a person feel intimate with the room; the vast spaces do not overwhelm people. The lighting in the museum is cleverly done so as not cause reflective glares when viewing the exhibits. The light emanates from hidden lighting sources on the walls and panels for effect and for protecting the exhibits from

Contract law Coursework Example | Topics and Well Written Essays - 3750 words

Contract law - Coursework Example The paper defines a contract as an agreement between two parties or corporations that creates legally binding obligations and rights as pertains to the concerned entities. Contracts form the bulwark of communication, understanding and conducting business between two entities: individuals, or Business Corporation. Parties to a contract need to be very sure of the requirements of the contract and their stake in the endeavor, otherwise, they stand to lose financially extensively. This therefore means that for a contract to be sound: it has to involve two parties, there has to have been an agreement reached by the two parties and the contract must create legally binding rights and obligations. Litigation against a fellow passing by customer is invalid. To begin with, there is no contract arrived at by Arju and the fellow customer. Law defines their agreement as idem (mind agreement) but not a contract that is legally binding to both parties. This translates that litigation against the fe llow customer is null and void. This is since the customers’ information is not reliable and also the fellow customer has no duty of care towards Arju, this shield him from any litigation as a result of the information rendered to Arju and the consequences thereafter.Secondly, Arju cannot succeed in suing the fellow customer for compensation on the basis of caveat emptor (buyer beware). This is affirmed in a court ruling involving Smith v Hughes involving the sale of oats between the litigating parties. The plaintiff exhibited oats for the defendant to sample prior to the actual purchase and the defendant never complained. However, upon delivering the oats to the defendant, the defendant rejected them on the prospect that they were old and the plaintiff sued the defendant for compensation. In an appeal hearing, it was ruled that the seller acted in the best of interest and the buyer should have been aware of the shortfalls of contracts and not blame it on the seller. The cour t therefore revoked the litigation by the buyer. On this basis, by the fellow customer merely suggesting that Arju purchases the AK 47 water squirt as the ideal power washer, the liability for its non performance did not befall him. Arju should have been more careful and have adequate information on the best power washer and also be aware of the shortcomings of the power washer he was compelled to buy. It is evident that litigation against the fellow customer by Arju would not be successful2. A2. A sales assistant from the home decorating department who assures Arju that the store sells quality equipment, yet he has received over 200 faulty equipments in the past four hours Arju would successfully file litigation against the home decorating department assistant on the basis of misrepresentation. This is since the misrepresentation by the home decorating assistant has the four qualifications for a successful compensation to Arju as will be outlined. To begin with, the misrepresentati on was a statement. This statement is classified as a half truth as held by Lord Justice James in Arkwright v Newbold3 where he asserted that even if everything previously said is true but some information id left out, it qualifies to a false statement and consequently to misrepresentation. Even where the participants in the negotiations have no direct relationship with each other,