The Effect of Indian Reforms Essay Example | Topics and Well Written Essays - 5000 words

The Effect of Indian Reforms - Essay Example The Global impact of this change can be assessed from the fact that the Indian economy is now attracting FDI at an increasing speed and it is offering support to world economies through its purchasing power parity and huge market. The reforms have however not yet benefited the entire population and in the interim, the poor-rich inequalities have increased and need to be attended to with speed. Also, the neglected agricultural sector needs to be reformed as well to give a balance to the reform process and the economy at large. It has been concluded that the economy has certainly improved since the reforms were initiated. The days of imperialism and colonialism are pat and in this new age of globalization, the world has veered to the view that all economies are interdependent and that failure of one would have deep repercussion over the rest. This has brought about a spate of reforms that are suggested or forced upon ailing economies, in the overall interest of the world economy. Theoretically, the choice has been, initiated and led by International Financial Institutions, of a big bang and shock therapy. But this formula is applicable in authoritarian regimes that force them on their economies and countries. The other approach, one that has not been largely favored, is gradual and incremental. This has always been looked upon as slow, unwieldy and risky inasmuch that its decisions can be reversed quickly towards status quo on the first signs of failure or strain. India, however, chose the latter method and spread its reforms and the liberalization and globalization process to stretch over almost two decades. In the sixties, it was unimaginable that from a net importer of food, India could become an occasional exporter about forty years later. Similarly, a receiver of foreign aid became a donor, even if a small one. And, foreign exchange, once the great constraint, would eventually become plentiful.  

Strategic delivery of change Essay Example | Topics and Well Written Essays - 1000 words

Strategic delivery of change - Essay Example He later became the director of the company in 1986 where he renamed the company WPP. WPP became the largest marketing and Communication Company worldwide by 1998. Organic growth and strategic combination enabled the company to achieve this position. The company is of good importance to the public in terms of environmental conditions. The raw materials and other resources used by the company are wastes, which could have polluted the environment. The studies indicated that the problem in many companies is how the company is recruiting the employees. Employees are not recruited as per their qualifications. This is because after the interview the recruited employees have lower grades than those who are left out. I worked in the company as part time employee and I have experienced how the employees are recruited. There are employees who have served in the company for a long time without being confirmed. This is because new employees are admitted to larger positions in the company leaving the other employees unconfirmed though they are qualified. For one to be employed in the company, it depends on what you have and whom you know in the company. Employees in the management positions are recruiting their friends and relative even if they are not qualified for the positions. This will lead to poor performances in the company, which might even lead to collapse of the company. This problem in the organization is brought by long serving employees in the management positions. This makes them ignore the rules and regulations of the company and exercise their duties as they wish. When it comes to recruitment, employees in the management position will consider their friends and relatives are first making all process unfair. The managers employ their own people, but they conduct the interviews only for formality in the organization. This makes the employees in the organization to be incompetent. This is because they cannot perform their duties as

Impacts of media violence on violence against women

Impacts of media violence on violence against women Media Violence as a Causal Agent for Violence Against Women Through Desensitization, Reinforcement of Gender Roles for Women, and Social Learning Theory. Media Violence as a Causal Agent for Violence Against Women Through Desensitization, Gender Roles of Women, and Social Learning Theory In the span of about one century the western world has made significant strides to amend the discrepancy in equality between women and men (Crow Gotell, 2004). Beginning with the first wave of feminism in the nineteenth and early twentieth century, the official rights of women were sought and established, resulting in important and favourable amendments to the existing legislation, such as womens right to vote (Johnson-Odim, 1991). Nonetheless, inequalities between women and men were not confined to court documents and legislation, rather they extended further into the community (Johnson-Odim, 1991). As a response to this the second wave of feminism took precedence to address unofficial, social issues including those related to sexuality, the workplace, and reproductive rights (Johnson-Odim, 1991). Yet, and despite the contributions made by both movements, several issues remain on the changing and diverse identity of women (Crow Gotell, 2004).In response to this, the third wave of feminism was dedicated to refuting the notion of a universal female identity and instead prioritizing diversity among women (Crow Gotell, 2004). Ultimately, however, the forms of violence and aggression toward women have evolved, become more subtle and implicit, but equally unjust (Rice, 2005). That is, although womens rights and freedom are made present on the surface, there continues to be questionable events that threaten the dignity of women (Rice, 2005). Specifically, popular media has played a significant role in facilitating, as well as perpetuating, violence against women (Bocock, 2006). With liberalism becoming more adamant in western culture, the visual depictions of women to capitalize on products and services has become normalized (Bocock, 2006). As a result, women are often directly associated with sex and sexuality, completely negating the rest of their being (Bocock, 2006). Currently, there is a large body of research dedicated to exploring the relationship between violent media and aggression, but few studies have been done to specifically address the transition between exposure to violent media and committing acts of violence towards women (Ferguson, San Miguel, Hartley, 2009). Because this issue is still a relative novelty, it is important to be cognoscente of extra variables that influence violence towards women in real life, all of which should be considered and weighed. However, the intent of this review is to decons truct the ways in which violence in the media, specifically in television, can facilitate and perpetuate violence towards women in real life. The type of real life violence under consideration focuses on physical and sexual violence, as well as negative stereotypes and attitudes about women. Although several perspectives and paradigms can be used to explain the contributions to violence towards women, this review will detail the mechanisms of psychological desensitization, reinforcement of womens gender roles, and social learning theory to analyze the role of violent media as a contributing factor in violence towards women. To begin, and as aforementioned, the exploration of the relationship between media violence and real life violence is not a new subject, rather an ongoing quest to further break down the phenomenon. A common reoccurrence is the issue of media violence and the desensitization of traits that allow us to associate inappropriate acts with human suffering (Fanti, Vanman, Henrich, Avraamides 2009). Fanti et al (2009) define desensitization as diminished emotional responses to a negative or adverse stimulus after repeated exposure to it. Essentially, repeated exposure to media violence can habituate adverse reactions, voiding a persons innate and natural negative response when viewing violence (Fanti et al, 2009). One plausible explanation for the way desensitization works is that exposure to violent media eliminates inhibitions to violence, which in turn may foster pro-violence attitudes and lower empathic responses (Fanti et al, 2009). This proposal further confirmed by Fanti et al (2009 ) in their empirical study, in which they exposed young adults to violent or comedic television clips. They hypothesized that repeated exposure to violent media would not only lower the empathic responses of participants, but also increase their levels of enjoyment when watching violent media (Fanti et al, 2009). Ultimately, their study showed that desensitization to media violence can occur after repeated exposure to media violence, and that these results can be seen in a short-term period (i.e. desensitization does not need extensive time to develop) (Fanti et al, 2009). In addition the researchers found that with repeated exposure to violent media not only was the psychological impact and sympathy of the participants reduced, but they reported an increased enjoyment of viewing violent media (Fanti et al, 2009). To further strengthen their results, the researchers were also able to discount existing personality traits (i.e. aggressive individuals) as being correlated with desensit ization (Fanti et al, 2009). However, there is an extensive body of research that counters the argument that media is accountable for violence, and instead analyzes other factors that have a heavier contribution to anti-social acts like violence. To illustrate this, a study by Ferguson et al (2009) looked at 603 youths in Texas, half of which were male and half female. Their aim was to evaluate the multiple variables that are associated with violent behaviour in youth (Ferguson et al, 2009). They found that in comparison to exposure to violent television, the most influential factors on the existence of aggressive behaviour were: delinquent peer influences, anti-social personality traits, depression or depressed mood, and parents or guardians who use psychological abuse in their personal relationships (Ferguson et al, 2009). These results undermine the argument, as proposed by Fanti et al (2009), that violence in the media is the most influential agent in desensitization, leading to violent real-life behaviour by the viewer. Although it is certainly important to consider the multivariate relationship linked with acts of violence or aggression it is important to acknowledge how detrimental violent media can be. The argument that violent media can desensitize individuals and disinhibit their violent impulses or behaviour can be supported within a biological framework (Strenziok, 2010). In a study by Strenziok et al (2010) 37 healthy male participants were tested to analyze the relationship between their exposure to media violence and left orbitofrontal cortex density (LOFC) as mediated by synaptic pruning. Because the orbitofrontal cortex is responsible for important regulatory functions, such as decision-making, social adjustment, and inhibition, any changes that occur in the cortex as a result of pruning can have significant effects (Strenziok et al, 2010). When synaptic pruning occurs the process happens within context (Strenziok et al, 2010). That is, the en vironment plays a major role in selecting which neuronal connections will be pruned and which will be maintained (Strenziok et al, 2010). Strenziuok et al (2010) found that there was a negative correlation between exposure to violent media and left orbitofrontal cortex density. Their findings suggest that media violence can facilitate synaptic pruning in the LOFC, which then short-circuits/decreases neuronal connectionsultimately disrupting normal orbitofrontal cortex functions and allowing for anti-social violent behaviour (Strenziok et al, 2010). Furthermore, the desensitization process and the serving biological functions can be applicable to violence towards women. In a society that upholds equality, freedom, and rights as priorities, there continues to be sensationalized displays violence in the media. One study aimed to examine the effects of repeated exposure to sexually violent films on emotional desensitization toward victims of domestic violence and abuse within sample of 138 males. (Mullin Linz, 1995). The results showed a decrease in emotional response, physiological arousal, and ratings of how sexually violent the films were with repeated film exposure (Mullin Linz, 1995). These statistically significant results were relative to the results of the control group, and lasted for three days. That is, when re-evaluated three days after the initial experiment, the results remained static (Mullin Linz, 1995). However, it is important to also acknowledge that these results did not extend further than three days (Mullin Linz, 1995). When tested again five days after the initial experiment, participants baseline responses were restored, essentially suggesting that the effects of sexually violent films were only maintained for a limited and short-term period (Mulling Linz, 1995). The authors suggest that the results may reflect a lack of ecological validity in the study, since exposure to violent media is longer and more continuous over time compared t o exposure in a clinical setting (Mullin Linz, 1995). What this implies then, is that in a real life setting these results may be inapplicable and possibly irrelevant to violence towards women. Above differential perspective, what this study ultimately supports is the existence of a strong relationship between exposure to gender-based, sexually violent films and overall desensitization (Mullin Linz, 1995). Lastly, a study by Linz and Adams (1989) measured physiological desensitization (i.e. heart rate) and its relation to cognitive, affective, and attitudinal components of desensitization. Participants were exposed to either a videotape depicting violence against women or a videotape of non-violent, but exciting content (Linz Adams, 1989). Then all participants watched video clips of violence towards a woman, with a male as the aggressor (Linz Adams, 1989). Linz and Adams (1989) found that heart rates of participants in the violent videotape condition were lower during the final 90 seconds of each violent video clip compared to the control group. In addition, participants in the violent videotape condition attributed less injury to the female victims portrayed in the media in comparison to the control group (Linz Adams, 1989). To further delineate the contrast between the experimental and control conditions, the control condition experience significant increases in hostility, anxiety, and depression during the violent video clips- a testament of their adverse responses to and disapproval of violent media (Linz Adams, 1989). Ultimately, based on the growing body of literature on violence and media, there is significant evidence to support the role of exposure to violent media and its facilitation of real life violence, as it pertains to women. Such evidence not only addresses sociological perspectives of desensitization, but also provides psychophysiological support to explain the biological processes that enable such a relationship. Because humans tend to be swayed from and influenced by several variables, it is important to further analyze sociopsychological and cultural variables in the relationship between media violence and women. Specifically, gender norms and roles as they relate to women will be discussed in the context of media and real life violence. Although these roles and norms are an integral part of our identity beginning from birth, one must consider the unanticipated consequences. Often times with such social and cultural standards there runs a risk of placing individuals into very concise and finite societal niches, which may be difficult to break free from. For example, in western societies, the moment a baby is born he or she is often assigned a colour, according to gender appropriateness, be it pink or blue. The process of socialization begins from the moment an infant is introduced into society. From that moment onward, the child is brought up to meet societal and cultural standard of correc t ways of being, according to their sex. Unfortunately, this strenuous and confining process is difficult to stray away from, and individuals who attempt to establish themselves as persons first, rather than male or female, often experience disapproval, backlash, and even social isolation. In addition, the role of the media has been another influential means by which to enforce norms and roles in western worlds. Specifically, recent literature has proposed arguments that violent media reinforces the self-image of women in accordance with gender roles, and can even foster intra-female real life violence. What this implies then is that not only is violence towards women a reality, but that women themselves are now engaging in their own demise and contributing to the same hegemony that oppresses them. Although it was traditionally understood within the scientific realm that aggression is primarily related to males, and that aggression is singular in nature (i.e. direct, physical), rece nt literature is debunking this claim. Specifically, indirect aggression, which is not physical or explicit, in female-female relationships has take centre stage (Bjorkqvist, 1994). In theory, there is no reason to suggest that women are as violent as men, considering their physical ability. In reality, however, women have adapted to this difference by using indirect hostility and aggression by way of verbal and social manipulative (e.g. spreading rumours, excluding peers, etc) acts as a means of being violent ( Bjorkqvist, 1994, Cote, 2007). Bjorkqvist (1994) suggests that this indirect aggression can even be considered more sophisticated and powerful than conventional aggression (i.e. physical) because the aggressor is able to harm another person without being identified. However, the nature of aggression displayed by women and men cannot be solely attributed to biological or physiological differences. Social and cultural variables, and their influence on learning help perpetuate these modes of aggression (Bjorkqvist, 1994). With violent media being so pervasive and omnipresent, particularly as it relates to women, it is important to explore its effects on real life actions. Ringrose (2006) examines the way in which media sensationalizes indirect violence, now being referred to as the mean girl phenomenon and the implications it brings forth. This novelty depiction of women poses a bilateral problem, in that aggression is often synonymous with power but remains as a type of behaviour frowned upon in women. For example, Gonick(2004) proposes that the stereotypical vulnerable girl has now been replaced by the mean girl in the public eye. What would be ideal is to avoid polarizing womens behaviour, or homogenizing them into black or white categories, figuratively speaking. Nonetheless, what is ideal is rarely reality. Although the recent creation of the mean girl in the media appears to provide equality between women and men, as it provides an over reactive res ponse and antidote to the idea that women are nurturing and not aggressive, there a are serious side effects to this new sensation (Gonick, 2004). The pervasive presence of this construction of the mean girl in the media is now redefining normal behaviour for women and girls, allowing femininity and aggressive behaviour to be re-pathologized (Ringrose, 2006). Now that popular media, specifically televised and print media, is disguising indirect female-female aggression behind the facade of female empowerment, a new template of appropriate girl and women behaviour is being inherited by newer generations. The media often portrays indirect violent behaviour as exciting, dramatic, sexy, and especially as a marker of status and power. For example, feature films such as Mean Girls and Thirteen glorify indirect and relational aggression, depicting relating such behaviour to physical attractiveness, popularity, and success. Not only are such media positing that such behaviour is appealing a nd even glamorous, but is also negates all other equally important aspects of existence, such as stable family relationships, and a breadth of education. In addition to assigning indirect aggression as a vehicle of power, violent media also sets up such aggression to take place in female to female social relationships. It is often said that a civilization destroys itself from within rather than being conquered by outsiders and the western female population exemplifies this heuristic. That is, because violent media sensationalizes indirect aggression in female-female relationships, the integrity with which women relate and identify with one another is compromised. As such, this population is left vulnerable and more susceptible to patriarchal standards of life, and is once again turned into a commodity that can be regulated according to trends and demands. A study by Lavin and Cash (2000) demonstrates the complex relationship between violent media portrayals of women and real life in direct aggression in female-female interactions. They conducted an experimental study to break down and examine the effects of mass media and womens body-image experiences (Lavin Cash, 2000). In this study 66 college women were made to listen to one of two audio tapes: one containing information on the subject of appearance stereotyping and discrimination and the other containing information on television violence aggression (control condition) (Lavin Cash, 2000). At the conclusion of their study they found that although neither condition differed in the altered mood of the participants, exposure to t he appearance-related condition versus the control condition yielded significantly less favourable body-image evaluations (Lavin Cash, 2000). The results, produced by Ten Visual Analogues Scales and the 14-Item Appearance Schemas Inventory, demonstrate the ways in which western media showcases beauty and physical attractiveness in conjunction with covert and overt social benefits (L avin cash, 2000). In addition, the violent media often depict strong associations between beauty and desirable traits. That is, women are learning that beauty is good, and that is it the most important factor in leading a fulfilling life is the virtue of beauty. Because of this trend in the media of using womens physicality as commodities and means to capitalize and turn a profit, women become more invested in their aesthetic selves. In turn, women who have deep psychological investments with their self aesthetics become more susceptible to adverse social events, such as negative feedback about their weight or comparison cues (Lavin Cash, 2000). Such events become critical experiences, and pose the possibility of increased body dissatisfaction. For example, the images of dismembered women in print ads are rampant. What is meant by dismemberment is that only parts of womens bodies are used to sell a product of service. A good illustration of this is the prototypical beer print ad, in which the only thing visible is a womans torso with specific attention paid to the bust, followed by a posing hand holding a beer bottle. Such media pays no attention to the woman in question, rather reduces her to specific anatomical parts, in total disconnection to her individual self. In fact, a face is not only unnecessarily in such violent media, but is also obstructive because violence is more acceptable when identity is unknown (CITATION). Ultimately, violent media not only encourages and portrays indirect aggression as a means of power and representation of status, but also regulates its usage in womens relationships with one another, such that women become active participants in their own oppression and violence. To add to this, women also internalize their roles in western society as portrayed by the media. That is, women begin to see themselves and their bodies in terms of their sexual and aesthetic worth, disregarding other important aspects of their lives. Clearly, t he role of violent media cannot be ignored in light of the consequences it brings. This is not to imply that violent media the sole cause of such effects, as there are other variables to consider. There is a significant amount of research that supports the argument that exposure to violence and aggression enacted in parental relationships in the home have the most significant impact on violence inRather, the aforementioned information should be used to support the significant contributions and influences between violent media and violence towards women. Another mechanism by which violence in the media influences violence in real life violence is through the social learning theory. Bandura (1978) defines the social learning theory as a process in which people learn new behaviours by observing the behaviours of others, and assessing the benefits of exhibiting that behaviour to determine whether the behaviour will be sustained over time. That is, if the behaviour in question results in positive outcomes, then the observer is more likely to display this behaviour (Bandura, 1978)

Jean-Paul Sartres Extentialism & Taoism and the Movie Fight Club Essay

Man had to believe in something. That something was an ordering principle. And this was essential; it appeared, because the scientific temperament appeared not to assure man but to trigger him to drift even more aimlessly. Mankind needed a new book of lessons and a teacher as well. Humanity required it. What had occurred to produce such a yearning? Where was Reason? Where was God? With all the gods dead and buried, with nobody to believe in, the existentialists turned to humanity itself to unearth new values. While they acknowledged the nihilistic tendencies of bourgeois civilization, they were not themselves nihilists. They preserved a faith in humanity; a faith that guided them to the belief that only man could comprehend and resolve the tribulations of mankind. Existentialism sketched on a number of earlier ideas and one of its lasting strengths was that it survived to take in nearly two centuries of European thought into one composition. It was a perennial philosophy. It was th e fundamental Nietzcsheanism. As Sartre once wrote, "existentialism is an attempt to draw all the consequences from a consistent atheist position."(Sartre, 1962) According to Sartre, it had been Dostoevsky who had created that if God did not exist, and then anything would be allowed. This, in a nutshell, is the starting point, not the consequence or objective, of existentialism. If one really comprehends the sense of modern godless man's plight, one is at first condensed to nausea and despair. All of the human kind must go through that awful sense of depression that escort’s ones’ insight into the human condition and ourselves. Man is alone because he cannot be in contact with others. He finds himself in a world in which he is completely alien to othe... ...re consistent. And if person can be neither correct nor incorrect, how will he be able to be admired or held responsible, and how can he be accountable? References Bell, Ross Grayson: Chuck Palahniuk. Fight Club novel. Edward Norton Yale Interview on Fight Club. May 14, 2003 www.chuckpalahniuk.net official website Jean-Paul Sartre. Being and Nothingness (L'Être et le nà ©ant, 1943) Translated and quoted by Maurice Natanson A Critique of Jean-Paul Sartre's Ontology (1951) Sartre Jean-Paul  Existentialism is a Humanism (L’Existentialisme est un humanisme, Lecture given in 1946 Source: Existentialism from Dostoyevsky to Sartre, ed. Walter Kaufman, Meridian Publishing Company, 1989 http://members.aol.com/scissorside/jean.htm Boobbyer, Philip: Identity: Post Modernism Global Express UK. 1996-2003 http://globalexpress.initiativesofchange.org/issue6/inout.html

History of Auditing

| | |The History of Auditing | |A detailed overview | | | | | | | | Auditing has a rich history within the United States. There have always been various rudimentary forms of auditing when the first businesses were started; however the focus of this paper will be on auditing standards within the twentieth century. To look beyond that departs from what would typically be termed as â€Å"modern accountancy† and its relevant roots.Author Bruce Marshall helps describes why this historic perspective is so important of our field: â€Å"Accountancy is a recognized profession like those of law and medicine. †¦ In fact it might not be too much to say that it is regarded as the most important of all the professions. Indeed it is the cornerstone upon which the whole industry of our Empire is built. †[1] Establishing a Need for Auditing In one of the earliest forms of organized auditing, the American Institute of Certified Public Accountants issued a series of pamphlets to the accounting profession in 1917.The pamphlets were designed to guide financial statement analysis and auditing in general, offering more transparency to the emerging corporations that were springing up around the country. Strong motivation for this release came from the Federal Trade Commission and the Federal Reserve Board, stemming from a panic in the previous decade that had sent chills through the investment community. Both entities wanted to offer a stabilizing force to help guide the United States’ corporate growth.An early accounting journal discusses the pamphlets: â€Å"The memorandum is of such importance that it has been reprinted in full in this issue of The Journal of Accountancy and we are confident it will appeal to all readers. To the members of the institute it will serve as a guide in all their audits for credit purposes, and they will understand that the burden of proof will be upon them if they omit any of the procedure laid down in the memorandum. [ 2] The pamphlets were an adequate start, yet lacked the authority to be the final solution for stability. Federal Trade Commission Chairman W. E. Humphrey delivered a well timed statement on the progress the FTC had made, but also addressed some of the limitations: â€Å"I am constrained to believe that the business of this country, and particularly big business, is more and more forced to the conclusion that honesty is not only the best policy, but that it pays the highest dividends.I feel that there has been a tremendous improvement in the conduct of the business of the country over the last few years, but the time has not come, and I regret to say that it seems far off, when the strong arm of the government will not be needed to protect the public from greed, monopoly, fraud, and unfair practices. †[3] Humphrey however, could not foresee how right he actually was. After an especially lucrative decade for investors in the roaring twenties, one of the most devastating financ ial crises struck the United States in 1929 as the NY stock exchange came tumbling down.Corruption and greed were rampant among most major companies, whom often distorted how risky their operations actually were. Margin borrowing by investors allowed huge amounts of debt to be taken on without proper risk mitigation. Investors, knowing no better, had dumped small fortunes into the market. The fragile infrastructure of the system couldn’t handle the load and eventually caved in. Those companies that would survive the crash needed standardization and change in order for the investors’ faith to be restored.The Federal Trade Commission stepped in to fill this need. The first official document: â€Å"Verification of Financial Statements,† which was solely dedicated to provide guidance for audit, was released the same year as the crash. This document dove further than the previous decades’ pamphlets did, focusing in on small and medium sized companies, as well as the general need for the customized auditing tailored to each different companies, based on need. In response to the extreme amounts of personal wealth destroyed during the tock market crash in 1929 and the ensuing depression, Congress was forced to take even more action. The suggested guidelines outlined by the FTC were just not enough to ensure a stable economy. The regulation of business and the accounting firms is commonly recognized to have been born just after the Securities and Exchange Commission (SEC) was established in the mid 1930s. Despite public investment being in an advanced stage at the time, corporate regulation was practically unheard of. The SEC was a product of both the Securities Act and the Securities Exchange Act.William Raymond offers insight on the initial operations of the SEC and how the investor took advantage: â€Å"There are probably thousands of investors throughout the country who are at a loss to understand what value is all the data gathered by the Securities and Exchange Commission, which is headquartered in Washington and no convenient way for the investor to visit and secure the valuable data themselves. To these investors, the commission offers a very adequate mailing service, through which various actions by the commission, decisions and other matters may be obtained simply by requesting the placing of their names on the mailing list. [4] Even from the beginning, serious debates raged in Washington about whether it was constitutional for the government to be involved in public corporations, much less private ones. Without regulation, there was fear another collapse was unavoidable. Establishing standards for preparing and auditing financial statements was decided to be the bare minimum that was essential to steer clear of any future turmoil. The authority to set the rules and oversight for what would become â€Å"auditors† was given to the SEC. Auditors themselves were allowed to set their own standards, but fi nal say was still in the hands of the SEC.It is important to distinguish between accounting standards and auditing standards. Although related, auditing is but a piece of accounting. Nevertheless, to truly understand the history of auditing, one must note the progression of accountancy as well. Regulating Auditing Procedures In recognition of the expertise and resources of the accounting profession, the SEC has traditionally looked to the standard setting bodies from the private sector to provide a foundation for improving accounting principles and reporting standards.The private sector offered a baseline set of guidelines, which the SEC built off of. From 1938 and 1959, the Committee on Accounting Procedure (CAP) issued 51 Accounting Research Bulletins. The ARBs formed the basis of what is probably the single biggest resource to accountants today. GAAP, or the generally accepted accounting principles, is the foundation of all modern accounting. By 1959, CAP had been replaced by ano ther entity, the Accounting Principles Board (APB). The APB was responsible for 31 new general accounting standards from 1959-1973.This transition would mark the beginning of a plethora of different organizations over the years which would guide the practice. To improve the quality of audits in the 1960’s, the bigger companies added a new technique. Peer review, as it was called, required firms to confirm the accuracy of one another. It was so effective; the AICPA eventually added it as a requirement in 1977 for any member of the CPA division (within the AICPA). Firms were not required to join this division, but those who did agreed to a peer review as part of the guidelines.Eventually the peer review was deemed mandatory for all firms, membership or not, as part of the complete overhaul to the self control systems in 1989. The restructuring enacted change in the AICPA’s bylaws that required all members who practice must belong to a special group within the parent orga nization called the SEC Practice Section. The Practice Section had numerous guidelines for membership. The most notable included provisions that each member must engage in a peer review with another firm of comparable size.The point of the provision was to offer further reassurance to investors that operating accountants had adequate control mechanisms, regarding the integrity of GAAP and GAAS. While peer review is not a complete test, the idea is that a sampling of a firm’s work represents an adequate representation of the entire operation. Auditing every piece of work in a firm would be a completely unreasonable request, thus sampling method would have to suffice. Any findings from the peer reviews were available for viewing by the general public.Each firm is issued a report that contains the audit results and sometimes even comments on how the firm might improve its reporting procedures. Occasionally, a reader might even find the resulting changes made and any comments the audited firm has made regarding the issue. This open communication was a significant step forward towards complete transparency. William Kinney comments on what is important to the users: â€Å"Internal controls are also important to investors, the government, and ociety as a whole since they may affect long-term confidence in corporate accountability, and in the corporate form of organization. †[5] Despite this transparency, the increasingly complex business environment was proving to be too much to handle for one part time regulating committee, even with peer reviews. In order to solve this issue, an independent organization was necessary to help cater to the interests of investors, accountants and creditors. A full time committee eventually ended up relieving the AICPA of its duties.FASB, or Financial Accounting Standards Board, was officially created in 1972. FASB’s primary responsibility surrounds setting ground rules in all non governmental entities. These groun d rules covered anything from revenue recognition  and all other broad topics, to specific topics such as dividends. Marshall Armstrong writes in detail about its purpose: â€Å"The objective of the qualitative standards is to provide guidance in determining the substance of a transaction or event, regardless of its form, and a moral and ethical basis for its fair presentation in financial reports. [6] These standards are officially recognized by the SEC as the authoritative standard. Even with the establishment of FASB, the AICPA still existed to a limited extent. Through the means of the Accounting Standards Executive Committee, the AICPA works to collaborate with FASB on common objectives. Membership practices in FASB are intended to keep a level of independence but still effectively operate with the private sector in mind. It operates under the auspices of the Financial Accounting Foundation (FAF), which consists of sixteen trustees, twelve of whom are elected by representati ves of FAF’s sponsoring organizations — the AICPA, the American Accounting Association; the Financial Executive Institute; the Securities Industry Association; the National Association of State Auditors, Controllers and Treasurers; the Institute of Management Accountants; and the Government Finance Officers Association. The other four at-large members are appointed by the FAF itself.The FAF, in turn, appoints the members of the FASB and its advisory council. It is also responsible for funding the FASB. †[7] The first specific auditing standards were issued way back in 1939. The American Institute of Accountants authorized the appointment of a standing committee to advise on auditing procedure. By 1941, the AIA had released a several statements with the purpose to guide the individual auditor. Most notably was the â€Å"Statements on Auditing Procedure†, which offered a baseline for how auditors should responsibly approach individual audits, while using pro per judgment.These â€Å"SAP† s would be the first of 54 future statements issued up until 1970. The SEC required all auditors to swear upon their work, that it followed these generally accepted auditing standards. To help with compliance of this requirement, the SEC released the â€Å"Generally Accepted Auditing Standards—Their Significance and Scope. † Within ten years, the committee combined twenty-four of the pronouncements into one single body which would be referenced often during the process of internal control.Other notable consolidation efforts included the 1962 release of the â€Å"Statement of Auditing Procedure No. 33† which combined many of the standards trickled out between 1949 and 1963. This baseline document was turned into a single presentation, being coded in the process by 1972. The 1972 revision was held under the title: â€Å"Statement on Auditing Standards† or SAS. With the combination and official first uniform document, the committee officially changed its name to the Auditing Standard Executive Committee (AudSEC).In the next six years, AudSEC released 23 total SASes as a guideline for auditors. The AICPA continued to conduct numerous studies through committees on how to operate most effectively as a tool to the accounting profession. By 1978, the Auditing Standards Board (ASB) was the newest incarnation of an organized body charged with setting standards for the profession. An AudSEC’s successor, the ASB operated as 15 members with the responsibility to make relevant public statements, without having to obtain clearance first from the AICPA.Furthermore the ASB would set ground rules for how an auditor performs his assessment in regards to whether financial statement presentation conforms to the generally accepted accounting principles. Before setting new standards, the ASB will carefully gather all relevant opinions, including those of the Chief Accountant of the SEC as well as various other w ell known and respected individuals in the profession. The ASB replaced all previous senior technical committees in regards to the GAAS. The Public Oversight Board (POB) was created in 1977, which further helped to push transparency in the industry.The POB is a watch group entity responsible for oversight of the processes of the SECPS. The POB is an independent organization, which despite being funded by the SECPS, controls its own membership. If a firm has more than thirty SEC audit clients, then the POB will engage in reviews of the firm. The reviews can also take place in firms with less than thirty SEC audit clients, but the frequency of them is far fewer. Furthermore, the SEC will periodically inspect a sample of the peer reviews and even compile an annual public report that details its operations for the year. Auditing in Modern TimesOver seventy years after the stock market crash of 1929, again the Unites States would be struck by the uncertainty of the public corporation. Th e collapse of Enron revealed fraudulent accounting practices by the energy company itself and its accounting firm Arthur Anderson. By creating special purpose entities, Enron and Arthur Andersen effectively hid massive amounts of Enron debt, making the company appear much more profitable than it actually was. The house of cards built by Enron eventually collapsed leaving the SEC to sift through the rubble to discover what had actually happened. Also complicit were Arthur Andersen and lead Partner David Duncan. Duncan earned $700,000 annually to manage this account, plus part of Andersen's partnership profit pool. To appease Enron, he apparently did not require many large audit adjustments for several years, and often signed off on financial statements that were, by any reasonable standards, unclear and misleading. This shoddy work and attempts to eliminate key evidence led to Andersen's felony conviction and demise – apparently ignoring its founder's key slogan of thinking st raight and talking straight. [8] In response to the Enron collapse as well as the other companies which went down in its wake, the SEC was forced to up the ante, so to speak, with public transparency and accountability. In 2002, the Sarbanes-Oxley Act was put into place, which drastically altered the structure of GAAP. Through the Sarbanes-Oxley Act, the Public Company Accounting Oversight Board (PCAOB) and the Securities Exchange Commission (SEC) were given the final say over all auditing standards. Registration was required with the PCAOB for CPAs and CPA firms who worked with public companies.Once registered, members must adhere to all standards, principles, rules, and interpretations set forth by the PCAOB. Further restructuring surfaced in 2004 as the PCAOB was set as the authority on public companies (as it pertains to GAAS), while the ASP oversaw private companies. Chuck Landes, a VP with the AICPA, speaks to the changes in an interview with the Ohio Society of CPAs: â€Å"A uditing standards have changed and now call for more attention to the audit itself. Auditing is a serious business and it needs to be taken seriously. You can't be a part-time auditor.I see firms making intelligent decisions about being in the audit business and committing the necessary resources around the audit function. In our new risk assessment standards, having an understanding of the industry is essential. †[9] The unfortunate trend with auditing standards is that a tragic event usually occurs for the foundation to adjust. It is a great system to catch and fix problems, but as the time passes, the scale of the instigating event becomes larger and larger. As long as there are men and women with greed, there will be a need for auditing.Armstrong, Marshall. 1973. FASB will develop broad qualitative standards. The CPA Journal (pre-1986)  43,  no. 000010,  (October  1):  844 Bateman & Co. A History of Accounting & Auditing Standards. February 2002. http://www. bate manhouston. com/newsStds. htm Humphrey W E. 1928. A Friend of Honest Business. Nation's Business (pre-1986),  June  5,  31. Kinney, William R. , Jr. ,  Maher, Michael W. ,  and  Wright, David W. 1990. Assertions-Based Standards for Integrated Internal Control. Accounting Horizons  4,  no. 4,  (December  1) Lasch, Erin. 2002. Chuck Landes is Rewriting Audit History.Catalyst 48-50 Marshall, Bruce. 1958. The Bank Audit. Edinburgh: Houghton Mifflin. Alan Reinstein,  Stephen R. Moehrle,  and  Jennifer Reynolds-Moehrle. â€Å"Crime and punishment in the marketplace  :Accountants and business executives repeating history. †Ã‚  Managerial Auditing Journal  21,  no. 4  (May  1,  2006):  420-435. Raymond, William T. (1935,  July  29). SEC Keeps Investors Informed. Barron's (1921-1942), pg. 8 Richardson, AP. â€Å"The Federal Reserve Board and audits. †Ã‚  Journal of Accountancy (pre-1986) 23,  no. 000006  (June  1,  1917):  4 52. ———————– 1] Marshall, Bruce. 1958. The Bank Audit. Edinburgh: Houghton Mifflin. [2] Richardson, AP. â€Å"The Federal Reserve Board and audits. †Ã‚  Journal of Accountancy (pre-1986) 23,  no. 000006  (June  1,  1917):  452. [3] Humphrey W E. 1928. A Friend of Honest Business. Nation's Business (pre-1986),  June  5,  31. [4] Raymond, William T. (1935,  July  29). SEC Keeps Investors Informed. Barron's (1921-1942), pg. 8 [5] Kinney, William R. , Jr. ,  Maher, Michael W. ,  and  Wright, David W. 1990. Assertions-Based Standards for Integrated Internal Control. Accounting Horizons  4,  no. ,  (December  1) [6] Armstrong, Marshall. 1973. FASB will develop broad qualitative standards. The CPA Journal (pre-1986)  43,  no. 000010,  (October  1):  844 [7] Bateman & Co. A History of Accounting & Auditing Standards. February 2002. http://www. batemanhouston. com/newsStds. htm [8] Alan Reinstein,  Stephen R. Moehrle,  and  Jennifer Reynolds-Moehrle. â€Å"Crime and punishment in the marketplace  :Accountants and business executives repeating history. †Ã‚  Managerial Auditing Journal  21,  no. 4  (May  1,  2006):  420-435. [9] Lasch, Erin. 2002. Chuck Landes is Rewriting Audit History. Catalyst 48-50

I could never believe in the rule of law again Essay

â€Å"I could never believe in the rule of law again.† Says David, reflecting on the events of 1948. Why does he come to this conclusion? Larry Watson’s Montana 1948 is a story set at Bentrock, Montanan focuses on the family struggles of the Haydens between loyalty and justice. David Hayden, the adult narrator, looks back at the summer when he was twelve years old, and recalls all the life-changing events which completely lead to his disbelief of the rule of law. Young David once believed in the rule of law, and believed the adult is righteous to uphold justice, but on the contrary, what unveiled before him is how the Hayden family neglect the law and abuse power, is how his grandfather attempts to protect his criminal son, is how uncle Frank’s misdeeds is covered throughout. David’s perspectives on the rule of law is initially influenced by the way the members of his family abuse their powers. In the position of sheriff in generation, the Hayden family is the one enforce the law all the time, even above the law. Knowing â€Å"when to look and when to look away† is the principle of grandfather Julian, as a former sheriff, who ‘was a dominating man who drew sustenance and strength from controlling others’. It is a sign of corruption as law is not taking seriously. As for Wesley, although he seems not â€Å"get a hang of it†, he actually lived happily and proudly under Julian’s power at the start. This is evident when David recounts his drunken father said to Gail â€Å"They couldn’t arrest us-we are the law. †after Julian intimidate back the cowboys at a bar. With power in their hands, they are able to do whatever they want against the law without being punished. David was shocked when he discovered that both of his father and grandfather were in conspiracy of knowledge about Frank raping Indian girls, but just indulged it. Before reaching the central climax, David already finds out that people are not equal in front of the law, powerful people is always dominant. The light of justice is getting dim and dim in response to the two main characters’ action. Naà ¯ve as David, could originally believe his grandfather will take care of everything, if Wes chose to tell on Frank. â€Å"He’ll shake him up and shout in Frank’s face that he’d better straighten up  and fly right or there’ll be hell to pay.† However the reality is that neither Wes nor Julian brings about justice at first. Wes doesn’t want to breach family loyalty, so he claimed he â€Å"won’t do anything to arrange it†, despite of ultimately overcoming his moral dilemma and standing up to Julian. Julian’s confrontation to Wes that â€Å"You don’t lock up your brother† for raping Indians is evidence of inequality before law based on racism. His following action on setting Frank free by attacking David’s house is even more lawless. After stumble into these disturbing events, David realizes that th e one who should be the representative of law, ironically, is the one break the law first. If there is the rule of law, then â€Å"sins-crimes-are not supposed to go unpunished†. Frank did pay his life for the bill eventually, but it didn’t undergo the ways in law. In order to preserve the family reputation, all the family members are in agreement of concealing the truth of Frank’s death and all his crimes. Thus, justice is not achieved for dead Marie and those Indian patients. At that time, David senses how powerless the law is, so he can’t help but ask â€Å"How many secrets had our town agreed to keep?† And since â€Å"any human community might omit stories of sexual abuse, murder, suicide†¦Ã¢â‚¬  he no longer holds his childhood faith in the rule of law again. All these encounters in David’s younger days, make him aware of the human intervention of law. The rule of law can be alternated by human, the rule of law can be rewritten by human, the rule of law doesn’t always deliver justice. When the family loyalty clashes with justice, the rule of law has to compromise.

How Race is Lived In America essays

How Race is Lived In America essays The three articles I had a chance to read were from The New York Times project examining the changing dimensions of racial and racialized experiences in the United States. The Minority Quarterback: Coaches Chose a White to Call the Plays. The Campus Found that Hard to Swallow, a story of a white minority in an all black university, The Way We Live Now: 7-16-00: Round Table; Writing about Race (And Trying to Talk About it), and A Conversation on Race; America, Seen Through the Filter of Race, were the three articles I read from the newspaper series How Race is Lived in America. These readings related very much to our class discussions and in our text books about race and communication/prejudice concepts. In the article The Minority Quarterback, I found that the title itself baffled me at first. The title showed me that I even have prejudice. From the definition formed in class that prejudice is based upon a faulty and inflexible generalization. For me, when I think of a quarterback, I think of a white playing the position. Since in the past of football most quarterbacks were dominantly white. So when I read the title I thought it was about a black quarterback playing the role and his struggle being the leader of the team. But the article was exactly opposite, which gave me a kick out of it for thinking that way. The story was about a white quarterback accepting a scholarship to play for a big time football school among black colleges. He was going to be the first white to start quarterback in the history of the black Southwestern Athletic Conference. His teammates were really unhappy about the situation; they believed that he got the position because he was white and not on his ability. The players picked on his weaknesses and made jokes that he was the typical bland white athlete. This is an example of antilocution one of the levels of prejudice...

Retaining the Connotation of Retinue

Retaining the Connotation of Retinue Retaining the Connotation of Retinue Retaining the Connotation of Retinue By Mark Nichol What is a retinue, and do you need one? That depends on whether you need to be retained. This post defines and discusses the term retinue and its synonyms. Retinue, derived from the French verb retenir, meaning â€Å"retain,† or â€Å"keep,† refers to a group of associates or attendants. Originally, it applied to retainers (that word also stems from retenir), servants who attended to a person of high rank. Now, it is more likely to pertain to friends, employees, and hangers-on a celebrity surrounds himself or herself with. Associated words include entourage, from the French verb entourer, meaning â€Å"surround†; this word is cognate with tour (a tour â€Å"surrounds† the area circumscribed by the travel route) and tourist. Then there’s cortege, from the Latin term cohors, meaning â€Å"enclosure† (and the origin of court as well as cohort), by way of the Italian verb corteggiare, meaning â€Å"court,† as in an effort to influence someone politically or romantically; cortege also refers to a parade of attendants and may apply specifically to a funeral procession. Suite (ultimately from the Latin word sequere, meaning â€Å"follow†- and the source of sequence- by way of Old French), tail (from an Old English word meaning â€Å"lock of hair†), and train (from the Middle French verb trainer, meaning â€Å"drag† or â€Å"draw†) are also used in the sense of â€Å"those attending on an important person.† Following is another word with this connotation, though it can easily be misunderstood to apply to someone’s far-flung fan base rather than to close associates. Two slang terms synonymous with retinue are crew (ultimately from the Latin verb crescere, meaning â€Å"grow†- and the source of crescent- by way of Middle French and later Middle English, in the sense of reinforcement), from an association with the company of sailors or other workers who conduct operations (though with the connotation of a convivial assembly), and posse. That last word is a truncation of the Latin phrase posse comitatus, meaning â€Å"power of the county† and referring to a group of citizens deputized to assist in law enforcement or rescue. In popular culture, posse became associated with the Old West, conjuring the image of a band of men in a frontier town temporarily authorized to assist a county sheriff or a federal marshal with hunting down a fugitive outlaw. This meme inspired an association of the term with a rambunctious retinue accompanying a pop star. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:The Royal Order of Adjectives 5 Brainstorming Strategies for WritersUsing "May" in a Question

Can Volunteer Work Help Your Resume

Can Volunteer Work Help Your Resume People who are either in-between jobs or looking to change careers have a lot of work to do when it comes to maintaining or building their resumes. If you’re in-between jobs, you must be engaged in activities that will enhance your resume and show potential employers you are a proactive individual. If you’re looking to change careers, you need to tackle that difficult task of adding experience to your resume when no one will give you the opportunity to do so. The answer to both of these problems is to take on volunteer work. Organizations that hire volunteers are always willing to train people when it comes to new tasks, and they are always grateful to have people with experience working on important projects. There are several other ways that volunteer work can not only help your resume, but also boost your career.It keeps the career fires burning.According to Careerealism.com, volunteer work is a great way to keep your passion for what you do burning brightly. If you are a nurse in-between jobs, then volunteering at the local clinic will remind you how much you enjoy helping others. Anyone looking to change careers can gain a real passion for that new career path by getting involved in volunteer work. Instead of jumping into your new career without really knowing what you are getting into, you can use volunteer work to create a heightened sense of excitement about your new profession.You’ll network with new people.Job hunters who do not volunteer are missing out on an excellent opportunity to network with new industry contacts who  might lead to a new job. According to Monster.com, anyone looking to break into a new career will find the process much easier when they utilize the contacts they make doing volunteer work.Some of the most prominent members of your local corporate community do regular volunteer work, and those prominent professionals are always interested in making contact with new volunteers who show passion and ability. The networking contacts you can make volunteering could significantly boost your resume and put you on the path towards a better career.You can add skills to your resume.One of the biggest benefits of volunteering to boost your resume is the opportunity to add new skills to your professional qualifications. The charitable organization you volunteer for would be more than happy to show you an array of new skills that you can use to create a much more impressive resume. Volunteering also gives you the chance to develop a resume for your career change that would list skills that often take years for people within the industry to learn.Volunteering is not only good for your community; it is also good for your career. The people you can meet, the skills you can acquire, and the experience you can build up through a volunteering position can be invaluable in enhancing your resume, and in making your qualifications stand out to potential new employers.To learn more about volunteering opportun ities and boosting your career, you can sign up with TheJobNetwork today. You will get all of the inside information you need to grow your career and boost your professional qualifications.

Life as a function of biological definitions Essay

Life as a function of biological definitions - Essay Example Perhaps one of the most complex questions that biology attempts to answer is not who are we and where have we come from;but rather the simplest of answers – what defines life?Depending on who is asked and what journals and/or texts are consulted,the researcher attempting to answer such a question will likely be led down a host of different paths. However, oftentimes the best way to define something that is infinitely complex is to draw a very broad definition that focuses on the key attributes and elements that are displayed while also drawing on the key attributes and elements that are noticeably missing. In this way, it is necessary to work to define life as well as to provide many of the prior and current definitions that scientists have used to attempt to determine what is living from what is not. One might question why such an absolute definition is such an integral facet of understanding biology; citing the fact that life is obvious to the observer when it is seen. Howev er, this is not always the case. Due to the recent advances that have been made in biology and genetics as they relate to the creation of â€Å"living† wetwear and other engineered forms of life, the observer finds it increasingly difficult to define with a high level of certainty what is life and what is not. Due to the fact that scientists are ever coming closer to engineering and â€Å"creating† more and more complex forms of â€Å"non natural/human engineered† life, the necessity for a clear and actionable comes into clear focus. Thus the purpose of this essay will be to weigh those competing definitions and draw inference based on their requisite strengths and weaknesses. Similarly, scientists have struggled over the years to uniformly define life based on its most common attributes. For instance, in 1944, physicist Erwin Schrodinger defined life as â€Å"that which avoids the decay into equilibrium†. Although this definition is at least partially va lid, there are non-life forms that ascribe to this same level of meaning. For instance, few biologists would argue that a forest fire is a life form. It grows, reproduces, and resists entropy. One could even argue that to a certain degree fire consumes energy to produce thermal heat as well as performs a type of respiration; all of these are verifiable attributes of life. However, fire is most certainly not a life form. However, even considering the shortcomings of this particular definition, there is the additional shortcoming that all life, regardless of its form, eventually seeks entropy as well. In this way, it is clear that although certain processes may avoid decay into equilibrium, it is unwise to call these processes a life form due to the fact that eventually all matter, energy, and life seeks entropy (Jagers op Akkerhuis 248). Similarly, many biologists have hearkened back to Darwin in order to determine what defines life. Those that ascribe to distinctly Darwinian school of thought define life as that which resists entropy and seeks to perpetuate a self-sustaining system cable of evolution. Although this definition is useful, it is similarly too broad to adequately narrow the focus of the researcher/student in understanding the complex nature of life. Likewise, many others conclude that metabolism is a requirement for something to be considered a life form. Regardless of the particular variety of life that is being analyzed, the common denotation of this is that all life requires a form of metabolic processes in order to synthesize, utilize, and extract useful energy for life. Similarly, this process invariably utilizes H20. As such, many biologists have appropriately theorized that all life requires H20 as a functional component of cellular growth, respiration, and division. Although this is merely supposition, the evolution of life on other planets may well utilize another more plentiful means of growth, division, and respiration than H20. Due to the fact that

Law of the European Union Essay Example | Topics and Well Written Essays - 2000 words

Law of the European Union - Essay Example The doctrine of pre-emption differs from the Supremacy clause of EC law ruled in Costa v. ENEL4 in that the latter is a guide when two existing norms regulating the same thing are in conflict,5 whereas pre-emption consists in determining whether there is a conflict between a national measure, be it in application or decision, and a rule of Community law. In a further step, in (Case 11/70) Internationale Handelsgesellschaft GmbH6, the Court held that Community law took precedence even over a fundamental rule in the German national constitution. The clearest statement of the implications of the supremacy of Community law came in (Case 106/77) Simmenthal SpA (No. 2)7 where the Court held that national courts, even a lowly court of first instance, have a duty to set aside provisions of national law, which are incompatible with EC law. There was no need to wait for the national law to be amended in line with national constitutional procedures: the national rule had to be set aside immediately if it conflicted with a directly applicable or directly effective Community provision. Nor does the obligation to set aside conflicting national rules only apply to national courts: even an administrative agency dealing with a national social insurance scheme was held to be required to do so in Case C-118/00 Larsy v INASTI8. Although the national me asure is rendered 'inapplicable', this does not absolve the Member State from the need formally to repeal it. In [Case 22-70] the ERTA case (European Road Transport Agreement) the ECJ decided that where the EC concludes a treaty in pursuance of a common policy (Transport, in this case), the possibility of concurrent authority on the part of MS towards non-member states is excluded: and any other purported exercise of concurrently authority will be over ridden to the extent that it conflicts with Community law. However, the ECJ develop pre-emption legal principle. The Court first formulated a principle of pre-emption in the ERTA case where the Court held that "once a Community common policy has been initiated,9 Community competence pre-empts Member State competence". Subsequently in Costa v. ENEL10, the principle of pre-emption has been made pragmatic and more flexible. In the interests of legal certainty, the Court said that Member States must also repeal the offending national rule: (Case 167/73) Commission v France (French Merchant Seamen)11. Even if it is not yet clear whether a person actually has a right which they claim under community law (i.e. it is a 'putative' right, not a definite one), the doctrine of supremacy requires a national court to set aside any national procedural rules which might prevent them from getting the full benefit of the Community right if it IS eventually found that they have it! This was laid down in the case (C-213/89) R v Secretary of State for Transport, ex parte Factortame Ltd and others12. Spanish fishermen claimed that the UK's Merchant Shipping Act breached a number of EC Treaty articles and wrongly prevented them from fishing in British waters. They asked for interim relief (an injunction setting aside the offending clauses of the Act pending the full hearing of the case). The problem was that under English law, courts could not

Lee Silverman Voice Treatment (LSVT) Essay Example | Topics and Well Written Essays - 1000 words

Lee Silverman Voice Treatment (LSVT) - Essay Example Several researches have been conducted to find out the success rate of LSVT in treating dysarthria. An article by Brad H Story et al analyzes the effect of LSVT on the vowel articulation of dysarthric patients. The research by Story et al clearly shows that dysarthric patients suffer from articulation of vowels in their daily lives. People suffering from Parkinsons Disease are most probable to go through from such a situation. Parkinsons Disease and its effects are emphasized upon in the research article. It has been seen that LSVT produces marked improvement in patients suffering from voice and speech problems due to the onset of Parkinsons Disease. Story et al tells that patients suffering from dysarthria because of Parkinsons show improvement on the long term when treated with LSVT because there is no external cueing in the therapy. Vocal loudness is a primary factor which helps these patients to improve upon their tone as put by Story. The research article by Story et al took pat ients suffering from Parkinsons disease who had problems in their speech and voice and gave them a therapy of LSVT to find out its effect on the vowel articulation. ... Both Michael et al and Story et al in their articles have put forward the effects of vocal loudness as used in LSVT on the patients who are suffering from Parkinsons. Michael et al in his article has emphasized on the patients suffering from hypokinetic dysarthria whereas Story et al in his article has emphasized upon the patients suffering from Parkinsons Disease specifically. The study carried out by Michael et al was only done on a single patient and requires research on other patients to confirm its results whereas the study carried out by Story et al was conducted on a large population to find out the effect of LSVT on the patients. Thus it can be said that Story et al has build up a strong base to prove its results whereas Michael et al in his article has given a platform for future research on hypokinetic dysarthric patients. Similarly the article by Story et al had also taken controls of patients suffering from Parkinson’s Disease to find out the exact results of LSVT whereas the research by Michael et al only took one individual in the whole research without having any controls. Another research carried out by Wenke et al has showed the effectiveness of LSVT when it comes to the treatment of dysarthric patients following TBI or stroke. A total of 10 individuals were taken into the research to find out the effect of LSVT. LSVT was performed according to its normal procedure and then a team was designated to find out the effect of LSVT on the patients. The long term effects of LSVT on the patients were positive enough to last for six months as found out by the team. This research article again proved to be a platform for further research to find out the effectiveness of LSVT. Similarly another

Risk Assesment Essay Example | Topics and Well Written Essays - 750 words

Risk Assesment - Essay Example Malathion is degradable and does not persist in the atmosphere for a very long time. It degrades in the air, in the soil as well as in water. It can be harmful for marine life and thus spraying in water should be avoided. It needs to be sprayed more than once for achieving the best possible results. Though malathion has many benefits associated with it the, the risks cannot be overlooked. If exposure occurs, it can lead to attacks of asthma in patients who suffer from the disease. It has also been associated with cancer in the liver. If skin contact results, it can lead to allergies and rashes as well. It can also disturb the gastrointestinal tract and affect the heart rate by either increasing it or decreasing it. Anxiety can also result and in extreme cases paralysis and coma can also be seen. The city of Genericville has a very essential role of tourism to play in maintaining the economic aspect of the city. The tourist attractions in the city are marked by virtue of the beautiful river as well as the wetlands that lie beside the river. The river and the wetlands are home to different marine as well as animal species that add to the attraction of the city. It is hence the duty of the authorities as well as its residents to take care of these natural endowments that the city possesses. The health and the well being of the tourists is as important as that of the people who reside in the city because they provide for the source of income for this city. West Nile Virus has been a subject of concern for the authorities because it has accounted for 177 deaths out of the 4269 affected cases and there are concerns that it might affect 50 people of the city and result in two deaths. Malathion has been proposed as a measure to overcome this health issue. The spread of the West Nile Virus is by means of mosquitoes and hence malathion which is an organophosphate and a pesticide spray is effective against them. West Nile Virus can result in inflaming the brain as well

The topic is level of satisfaction among factory workers and cleaners Essay

The topic is level of satisfaction among factory workers and cleaners in the UAE, and their perception of satisfaction - Essay Example These countries, for instance; Dubai has a large number of tourists from all over the world. They need many people who can work in media and Information technology fields, as it is a growing industry. UAE countries have become center of attention for the whole world because of its oil resources, these countries receive many visitors from all over the world, either it is for business purpose or for tourism. Most of the South Asians move to the UAE to find jobs. Most of the people from Pakistan, India and Bangladesh are blue collar workers. They work as house maids or domestic servants, factory workers, taxi drivers, waiter or waitress, laborers construction workers and petrol pump attendants etc. They have to accept whatever statement is given to them as they don’t have any right to speak. Many problems exist for these people who are treated as second-class citizens in these rich countries. They remain unsatisfied away from their families in a poor and in undesirable circumstances. They have to send most of the money to their homes for children and other family members to fulfill their basic needs. Rest of the money is not enough for their own requirements. Adjustment problems: They suffer from climate change in addition to that their surrounding environment and people are also not always from the same nationalities, they take much time to settle with the people of different cultures. They are lacking the basic needs of life around them; like they do not get pure and clean drinking water, nor do they have necessary waste disposal facilities. Health issues: If anyone of them falls ill, they can not access hospitals, doctors and other healthcare practitioners because of poor financial status. This cause poor health and more infections amongst them, these might be communicable infections, rapidly transferred from one person to the other as they live in communities. Although this is a fact, that these workers either they are

EFFICIENCY OF CAPITAL MARKETS Essay Example | Topics and Well Written Essays - 500 words

EFFICIENCY OF CAPITAL MARKETS - Essay Example Funds that have bet against the market and performed poorly have been closed or folded into other funds, because their performance is not strong enough to attract new buyers. When one counts fund performance over two different periods of time, if one does not allow for survivorship bias, the data can be biased in favors of those funds that have done well, and can make the overall market’s fund performance seem better than it is. 3) What is the relationship between risk and return? How do we normally calibrate returns for risk? In a classic model, the higher the risk, the greater the return should be. Risk is the potential for loss weighed against return, the actuality of gain. With survivorship bias and fund piloting (where a group of funds begin at the same time with the notion that only the successful will ultimately survive), risk tends to be hidden by the mutual fund industry, making it seem like returns are higher than they are, and safer. 4) What is alpha and what does it measure? Alpha is a risk-adjusted statistical measure that weighs the return that is afforded in excess of the risk borne. It can usually be determined by subtracting funding performing from a relevant benchmark index. If one bets on the fund manager, one expects the fund to outperformance the basket of stocks bought in an index. 5) What is a t test and what does it measure? The t-test is a statistical measure used to weigh the significance of two different sample means, through a comparison of the variance between the means. In the case of the Malkiel study (p. 554) it indicates that there is a fairly strong difference between the mean performance rating of surviving funds and non-surviving funds, supporting the notion that survivorship bias must be account for to get a true picture of mutual fund records over time. 6) What conclusions can you reach about "the hot hand" investor? Who are the notable exceptions to this observation? The idea of a â€Å"hot hand† manager

The topic is level of satisfaction among factory workers and cleaners Essay

The topic is level of satisfaction among factory workers and cleaners in the UAE, and their perception of satisfaction - Essay Example These countries, for instance; Dubai has a large number of tourists from all over the world. They need many people who can work in media and Information technology fields, as it is a growing industry. UAE countries have become center of attention for the whole world because of its oil resources, these countries receive many visitors from all over the world, either it is for business purpose or for tourism. Most of the South Asians move to the UAE to find jobs. Most of the people from Pakistan, India and Bangladesh are blue collar workers. They work as house maids or domestic servants, factory workers, taxi drivers, waiter or waitress, laborers construction workers and petrol pump attendants etc. They have to accept whatever statement is given to them as they don’t have any right to speak. Many problems exist for these people who are treated as second-class citizens in these rich countries. They remain unsatisfied away from their families in a poor and in undesirable circumstances. They have to send most of the money to their homes for children and other family members to fulfill their basic needs. Rest of the money is not enough for their own requirements. Adjustment problems: They suffer from climate change in addition to that their surrounding environment and people are also not always from the same nationalities, they take much time to settle with the people of different cultures. They are lacking the basic needs of life around them; like they do not get pure and clean drinking water, nor do they have necessary waste disposal facilities. Health issues: If anyone of them falls ill, they can not access hospitals, doctors and other healthcare practitioners because of poor financial status. This cause poor health and more infections amongst them, these might be communicable infections, rapidly transferred from one person to the other as they live in communities. Although this is a fact, that these workers either they are

Hunting and wolves Essay Example for Free

Hunting and wolves Essay Wolves have unique features; they are smart, sly, and curious, but for many hunters they kill them for their fur. Hunters take wolves and kill them for their fur. For example, the residents of Alaska have the idea that killing wolves are okay. Well, this horrendous and vile act that they are committing should be illegal. This act that they are doing is putting the fate of wolves in a dangerous place and they will be promoting their extinction if they continue doing this. â€Å"Killing Wolves†, by Sherry Simpson will give some examples of the acts these people do in order to kill many of these wolves that are defenseless, and yet get killed; almost to extinction. Wolves are an incredible animal that resides in mountain, forest areas; they mostly resemble the average dog. Wolves are very necessary to balance the ecosystem by naturally controlling the population of animals that eat vegetation. Wolves also help evolution in other species. These creatures are needed by the natural community to maintain the delicate balance of life. Without them, caribou, deer, elk and rabbits and many more animals would clear the land of plants, and the ecosystem would be unable to maintain itself. The wolf population is not even the same size as it was in the historic time, back when they lived in most regions of the United States. State government’s needs to let go of this unnecessary and merciless desire to control the population of animals who are just trying to simply survive. Hunters view this animal as a killing machine and â€Å"it considers them vermin† (Matsuoka). To make the situation worse the government is allowing the states to encourage these hunters to kill these wolves. For example, â€Å"Wisconsin will issue 1,160 permits for 116 animals. Minnesota will issue 6,000 permits for 400 animals† (Peralta). They think by allowing these hunters to kill these wolves is going to be a great benefit for them; when in reality they are driving them closer to extinction. Another example for instance, Simpson states that â€Å"between 6,000 and 7,000 exist in Alaska and hunters trap, shoot or poison wolves† (Simpson 137). This means that by the vile act that these hunters are doing by killing these wolves today’s human society will see the number of wolves in that area will decrease, because of the great impact Congress has made. Congress took them off Endangered Species Act protections from our nation’s wolves, the state government is encouraging people to kill them (Matsuoka). Now hunters can kill up to 220 wolves during hunting season. Their justification for the large killing of wolves is that the wolf population is at a â€Å"healthy† number. This does not give them a valid reason for the unnecessary killing of this poor animal. Wolves have been gunned down by hunters and federal sharpshooters in many areas. Wolves had been hunted for sport to near extinction in the United States. The Endangered Species Act was their saving grace, providing them with protection from hunters under the law. Even though there are some people that have the opportunity to kill the wolves many do not even though the wolves have been taken out of the Act. Simpson had that opportunity, she has been brought up and taught how to kill a wolf, but she states â€Å"I know I will never kill a wolf† (134). She is one of the few people who have gone to schools like Wolf Trapping School and have maintained their mind intact to not kill this creature. She has witnessed how these hunters put â€Å"the trap cloaked beneath the snow† (137) and how wolves unfortunately fall into these traps. She also says that some of these hunters say that these wolves are like puppies but instead they meant that these were â€Å"full-grown but inexperienced wolves† (137). An example of how the hunters kill the wolves are by bringing along a gun and ammunition to hunt wolves. Also hunting rifles are the typical choice, but bow hunting is a popular alternative (Fuller). With this said we can see how these hunters try to make it seem to children that it is ok to kill these wolves; and how from a young age they start to brain-wash these children into committing this disgusting act yet the wolves are still getting killed by these hunters. In the article Petersen’s Hunting, Bob Robb gives six reasons why they should kill wolves. His first statement is that there are â€Å"too many wolves†. This is false since the hunters made sure to almost extinct the wolves. Next his second and third points are â€Å"wolves are decimating ungulate populations† and â€Å"deer and elk are hiding†. A wolfs diet consists of ungulates; which are large, hoofed animals, but hunters, for the sake of not dragging an entire dead deer or elk out into the wilderness, will usually bring cuts of meat from larger prey or meat from smaller prey, wolves will eat gladly (Fuller). These wolves are helping the hunter by not carrying such a heavy load. His fourth is â€Å"wolves love ‘muffy’†. This is right, but if these hunters left them alone and would not make them run to these certain situations these wolves would have the urge to have a meal whether it may be livestock or a domesticated animal. Robb’s last two statements are â€Å"wolves are poster-boy animals† and â€Å"continued litigation†. He says that organizations just tell the government what the hunters are doing to the wolves and they gain money from them. This is false since not only do the organizations provide valid facts and proof to the government to protect the wolves. These hunters just want the opportunity to kill these wolves and almost drive them to extinction. Also, hunters can kill wolves to protect people, property or livestock (Landers). The decision to kill wolves has been very difficult for people because they do provide the warm that is needed when it is cold. After they have stripped the poor wolf’s fur what is done to the rest of the wolf? The carcass of the wolf will be thrown away and they will get more wolves and kill them for the same reason; even if they do not need them anymore for the wolf’s fur. The lifting of the ban has made hunters giddy and excited, because killing a wolf is a once-in-lifetime opportunity (Peralta). The main reason they are like this is partly because of the long-standing ban. These hunters know that wolves are incredibly intelligent animals with a keen sense of smell, so shooting them is very hard and trapping them is also difficult. This makes it seem in their point of view as a game to see if they can handle this challenge they are in. as well as they are spending a lot of money just so they can go and shoot wolves. Now that money will come from permits and licenses; the sale of the permits brought in $202,720 for the government. The sale of license is expected to bring in about $120,000 more (Peralta). Since the government needs more money they are allowing for the evil hunters to kill wolves so that they can get money. There valid and good reasons to kill wolves, yes they do provide warm, and also they can injure a person, but does that mean that we can also kill them for fun? As if was a game to see who can kill the most wolves? They try to give a good reason why they do this. They just want money so they can get out of having money troubles. Since the government knows that these hunters will do anything in order to start shooting at this creature they have set up this plan for the hunters; knowing that they will receive large amount of money. There are organizations that put a halt on their large amount of money they gain, by protecting and giving the wolves a voice. These organizations are the ones give these wolves a voice including ASPCA (The American Society for the Prevention of Cruelty to Animals) and PETA (People for the Ethical Treatment of Animals). These organizations show many people the cruelty that some people are doing to these animals. They speak the true about how these animals are killed and how the government is allowing these hunters to kill them. Many people may not know what kind of torture this poor animal is going through, but also there are many people that encourage this appalling act just so they can get the latest wolf coat. Now for the grand help these organizations are doing to aid the wolves has made it possible for the wolves to go into some sort of protection until recently. In conclusion, people can see how the killing of wolves is the worst thing they can possibly do. These wolves are very beneficial to have in our ecosystem because they help us and themselves to have and live a better lifestyle. The selfishness from the Congress to remove them from the Endangered Species Act was the most shocking thing they did, because they are giving these states the opportunity to drive these wolves back to extinction. Along with that they are gaining sufficient amount of money from these hunters to hunt which gives the government the money that they need. Killing this creature gives the government a â€Å"justified† reason to start gaining profit from the despicable acts these hunters make. Also thanks to these organizations the wolves have a voice and have a chance to survive and live long enough for the future children to be able to see this majestic creature. There are many people that do live and grow up in this circumstance and some do have a valid reason to kill wolves for their fur, but that does not mean they can promote their extinction. Lastly, this is why these wolves should not be hunted and should be able to go back into their natural habitat without having to worry that a hunter or hunter’s trap will kill them. Works Cited Fuller, John. How Wolf Hunting Works. HowStuffWorks. HowStuffWorks, 30 June 2011. Web. 25 Oct. 2012. Landers, Rich. Groups Write Governor to Protest Killing wolves. Spokesman. com. The Spokesman Review, 25 Aug. 2012. Web. 15 Oct. 2012. Matsuoka, Rachel. The Environment Wildlife Cause. Western States Killing Wolves By the Hundreds. Care 2, 21 Dec. 2011. Web. 15 Oct. 2012. Peralta, Eyder. Fair Game: Wolf Hunting Begins In Wisconsin, Minnesota. NPR. NPR, 15 Oct. 2012. Web. 15 Oct. 2012. Robb, Bob. 6 Reasons We Should Kill Wolves. Petersens Hunting. Petersens Hunting, 02 Nov. 2011. Web. 25 Oct. 2012. Simpson, Sherry. Killing Wolves. In Fact: The Best of Creative Nonfiction. Ed. Lee Gutkind. New York: W. W. Norton , 2005. 133-62. Print.

Analysis Of The Ryanair Business Strategy Business Essay

Analysis Of The Ryanair Business Strategy Business Essay Business strategy is an essential component to a firms business model and is a vital player in aiding the firm drive itself to achieve its mission. Through a clear business strategy a firm can derive its position in the long term and create a competitive advantage in the market for itself. In this essay we explore the business model of Ryanair and assess their strategy. Ryanair is an Irish low cost airline headquartered in Dublin founded in 1985. It operates 181 aircrafts over 729 routes across Europe and North Africa from 31 bases. Ryanair has seen large success over the recent years due to its low-cost business model and has become the worlds largest airline in terms of international passenger numbers. Taking Porters generic business strategies into consideration, Ryanair operates a cost-leadership strategy to drive itself into achieving its mission of being the leading European low-cost carrier (LCC). Throughout this essay the business strategy of Ryanair will be analysed and the sustainability of their model evaluated. Ryanairs objective is to firmly establish itself as Europes leading low-fares scheduled passenger airline through continued improvements and expanded offerings of its low-fares service (Ryanair). Considering their objectives and mission, Ryanairs decision on their cost-leadership strategy was based on a few main factors which are discussed below. A major influence was the deregulation of the airline industry in 1978 which removed government intervention within the European continent. Under the new rules, routes and fare decisions were made by individual airlines which meant that they could compete on other factors besides food, cabin crew and frequency. As a result of deregulation, a large number of new airline start-ups emerged within the EU and competition among airlines increased dramatically resulting in downward price pressures. Ryanair was established to take full advantage of these market conditions. By offering low prices, Ryanair entered a huge and virtually unlimited market. Having seen the major success of the low cost carrier Southwest in the United States, Ryanair decided to follow in their footsteps by establishing a LCC for the European continent that targeted fare conscious leisure travellers and regular low cost business travellers. By doing this Ryanair became the first low-fare airline in Europe. However, they took the Southwest model further by offering no drinks and snacks at all and abolishing the frequent flyer program which Southwest up to this day offers its customers (Boesch 2007). The evaluation of Porters five forces influenced Ryanairs choice of a cost-leadership strategy, as the threat presented by new entrants and the threat of substitutes could hinder their success. The threat of new entrants is high within the aviation industry which meant that low fares would help drive away any further competition. The threat of substitutes to Ryanair had to also be carefully examined. Their primary market, Europe, had the availability of high speed trains and car holidays. For Ryanair to be successful, prices had to be low to attract the public, and resist strong competition from substitutes like Eurostar. As Europes largest low fare airline, Ryanairs competitive advantage remains in their ability to continue as cost leaders; providing the cheapest fares to its customers. This dictates that the company must minimise its own costs to ensure that they are able to offer customers the service at a price below their direct competitors. This leads us to consider some key functional strategies which directly help Ryanair towards their ultimate goal to be Europes leading low fares airline (Ryanair). The marketing strategy is perhaps the most obvious and significant functional strategy of Ryanair. Low fares are designed to stimulate demand, attracting fare-conscious travellers, those who may have used alternative forms of transportation or even those who may have not travelled at all. Penetration pricing as it is called helps gain market share and simply, more customers equals more revenue (Wheelen Hunger 2006). Tickets are almost solely sold on their website www.ryanair.com which very importantly keeps sales costs to a minimum since very few phone operators are employed and computers are able to cheaply handle all functions of sales. With ever increasing accessibility of the internet globally anybody with internet access can buy airline tickets from Ryanair, so distribution practically takes care of itself through this medium. Ryan Air relies on low cost promotions and in recent times has concentrated on their One million seats at one pound which is usually advertised through t heir internet site, national press and bulletin boards. It is the simplicity of this promotion which helps keep costs low since expensive advertising agencies can be entirely avoided and advertising can be dealt with in house. Ryanairs operations strateg1y determines how the airline will deploy its resources and the policies it will operate by. To keep costs low they operate a no frills service onboard aircraft. This means the fare only includes the flight. There are however a number of other measures directly related to a no frills service. These include ticketless boarding, unallocated seats, one class of travel, costs for check-in baggage, no refund policy, basic seats (to increase aircraft capacity) and charging for any additional service. All this significantly reduces costs to Ryanair. The Achilles heel of Ryanair is their greater aircraft utilisation through super quick turnaround times. Essentially this means the aircraft spends very little time on the ground, they achieve this through their human resource policies and by having none or very little cargo in the baggage hold to speed up loading and unloading of the aircraft. Logistics strategy deals with the flow of products into and out of Ryanair. Again there is heavy emphasis on cost saving and reducing measures. Ryanair fly to secondary airports which are potentially much further from the City centre but accessible enough by other forms of ground transportation. At these airports Ryanair are able to negotiate extremely aggressively and demand the lowest landing and handling fees. Additionally Ryanair is usually able to gain financial assistance with marketing and promotional campaigns at these airports. As cost leader Ryanair strives to undercut all its rivals but this means very low income per fare and requires maximum utilisation of its resources. Fortunately their financial policy ensures they are able to still profit handsomely from rock bottom fares. The aim is to breakeven on fares but to make their profits out of ancillary charges and commissions from their partners. Ryanair has a number of affiliates such as Hertz car rental, Acumus insurance and booking.com all of whom are advertised readily on the Ryanair website. Since the website has high website traffic its partners are able to reach out to Ryanairs huge client base and are prepared to pay good commissions to the firm for this privilege (IdeaWorks). Ryanair also generate income from advertising on board the aircraft. Ancillary revenue is generated from many of the services that traditional airlines wouldnt charge for, such as large baggage into the cargo hold, allocated seating, snacks and drinks. Ryanairs strategy when purchasing aircraft is to buy new, uniform aircraft. This is beneficial for a number of reasons all of which directly help cost saving measures. Firstly, by being able to order same aircraft in bulk they are able to negotiate a better price per aircraft. Secondly, uniform aircraft mean that there are potential savings in staff training; air stewards being more familiar with all aircraft and maintenance will be simpler. Finally by buying new, the company has safer, more fuel efficient planes with lower maintenance costs. Safer aircraft also means greater consumer confidence, equating to more fare sales. Furthermore Ryanair aggressively hedge and fix as many of their costs as possible, such as oil and aircraft prices so they are not subject to future price fluctuations which could adversely affect profitability (Stone 2008). The human resource policy is again directly related to reducing costs. Employees are expected to pay for their own uniform and equipment. Training given is the required minimum and staff utilisation is among the highest in the airline industry. Many staff are employed on performance contracts and those who do not meet their expectations are readily replaced. Staff are also expected to take on a number of roles, cabin staff will also clean the aircraft prior to the next service, check in staff assist in boarding the aircraft etc. Ryanair has successfully experienced years of growth both in the number of its aircrafts and passengers since its launch.   However, with the global financial system recently suffering its greatest crisis in more than 70 years, existing business models of many aviation firms are coming under great strain. As this economic downturn bankrupts LCCs like XL and Zoom with more expected to follow, the question is whether Ryanairs cost-leadership strategy is sustainable or not as it continues to offer lower fares in the face of high costs. Although Ryanair has posted losses along with other aviation firms for the latest quarter, it is expected to emerge from this downturn with fewer competitors because its à ¢Ã¢â‚¬Å¡Ã‚ ¬1.8 billon balance sheet is one of the strongest in the industry. Additionally, as the credit crunch takes its toll, traditional airlines are not in a position to cut fares and the threat of new LCCs is virtually eliminated due to the lack of financing. Although Ryanair f aces competition from substitutes like Eurostar, it is at an advantage because of Eurostars limited destinations.   Ryanair is sticking to its mantra, when the going gets tough, sell more seats for almost nothing (Symonds 2008). By offering low fares, Ryanair expects passengers to trade down to the low cost airlines rather than stop flying completely. This trend appears accurate so far based on passenger numbers as recession forces millions of passengers to focus on price (Waterman 2009). Additionally, the latest statistics from The European Low Fares Airline Association members show a 15.7% year-on-year growth in the number of passengers for 2008, indicating that the LCC model is robust, even in times of crisis (Latest 2009). Consequently, there is no doubt that Ryanair looks poised for substantial profits and passenger growth in the coming years. However, in order to compete with other LCCs and maintain its continued market share growth in the future, Ryanair needs to improve its poor customer relations. The sustainability of Ryanairs cost leadership strategy also depends largely on the price of oil and how effective the firm is in cutting costs in order to continue offering low fares. According to the firms latest financial report, Ryanair will enjoy significantly lower oil costs thanks to their recent hedging programme, when most of their competitors are already hedged at much higher prices. These lower prices will drive Ryanairs traffic growth, maintain high load factors and capture market share from higher cost fuel surcharging competitors (3rd Quarter Results 2009). In order to cut costs, Ryanair plans to close all its airport check-in desks by the end of 2009 and have passengers check-in online instead. Other cost saving methods not yet implemented include charging customers for using toilets on airplanes (Lalor 2009). These cost cutting ideas are not very popular among consumers and it means that Ryanair needs to improve its already tarnished brand image in the future which it had attained through negative press reporting and misleading advertisements. The current strategy at Ryanair is expected to work so well that despite the recession Ryanairs CEO has underlined the firms commitment to expansion. The firm is expected to grow at 20 percent a year because of a 180 aircrafts on order from Boeing. These expansion plans for the future will require the company to increase its landing slots at airports and recruit more employees. Currently Ryanair has limited access to landing slots in major airports and the secondary airports are long distances away from city centres which could make it less attractive in the future.   However, a remarkable cut in flights by other European airline carriers due to recession is creating enormous opportunities for Ryanair, as many major airports compete to reduce charges in order to attract Ryanairs growth (3rd Quarter Results 2009). Availability of skilled personnel shouldnt be a problem for Ryanair due to recent high unemployment levels. However, Ryanair needs to improve its current low level of empa thy for employees if it is to retain them in the future. Even though Ryanairs cost leadership strategy is robust and it looks set to serve them well in the future, there are some key areas within the business that can be improved on to enhance the firms profitability and brand image. Ryanair has always been criticised for many aspects of its poor customer relations. According to The Economist, Ryanairs cavalier treatment of passengers had given Ryanair a deserved reputation for nastiness and that the airline has become a byword for appalling customer service   and jeering rudeness towards anyone or anything that gets in its way (Aviation 2007). If Ryanair is to maintain its large customer base, it needs to ensure that it acknowledges its customers concerns and maintains a service focused attitude at all costs. Ryanair needs to invest in servicing customers better by providing a non-premium contact number, improving its non user friendly website, and simplifying the terms and conditions of the flight service. Ryanair should also create a frequent flyer program to establish a fixed customer base and encourage customer loyalty. Ryanair is notorious for its high staff turnover which negatively affects its reputation as an employer. Over utilization of employees, poor remuneration package, and minimal training are a few other critical items to be considered by Ryanair if it is to retain employees in the future. Ryanair needs to understand that although it is currently possible to replace outgoing employees, but with time Ryanairs overall image will be tarnished. Resultantly, attracting new employees could become impossible and this will hinder their expansion plans. Ryanair should incorporate a flexible benefits package solely designed to improve employee morale such as flexible working hours and extra holidays. To improve its image amongst employees, training at all employee levels must include exposure to similar techniques and methods that help promote the development of a uniform company identity. Following huge success in Europe, Ryanair should consider introducing low cost transatlantic flights to support its expansion plans and attain a larger customer base. With a high demand for certain routes like London-New York and room for negotiation in airplane prices and airport slots mainly due to the current financial climate, it is an ideal time to further reap the rewards of the cost leadership strategy that has served Ryanair so well over the years. Ryanairs model looks set to survive the current industrial downturn through its lower costs and substantial cash balances. No airline is better placed in Europe than Ryanair to trade through this downturn. It will therefore continue to grow, by lowering fares, taking market share from competitors, and expanding in markets where competitors either withdraw capacity or go bust (Monaghan 2008). By taking the recommended improvements into consideration, it looks like Ryanairs cost leadership strategy seems ideal for the future. Word Count: 2,493