Factor For Successful Endodontic Treatment Health And Social Care Essay

Working length finding is a important factor for successful endodontic intervention. It is a corono-apical distance within the root canal system, which confines cleaning, determining and obturation ( 1 ) . The apical bound is the narrowest point of the canal, the alleged apical bottleneck or minor hiatuss, which normally coincides with the cemento-dentinal junction. It is the anatomical and histological passage of the mush to periapical tissues. The apical bottleneck is by and large accepted to be located at 0.5aˆ’0.75 mm wreath to the major apical hiatuss ( 2 ) . Underestimate of WL can take to deficient debridement of root canal infinite and subsequent failure of endodontic intervention, whereas overestimate of WL may interfere with healing procedure through chemical and mechanical annoyance of periapical tissues, ensuing in a relentless inflammatory status and foreign organic structure reaction. Optimum mending status occurs when the obturation stuff is in minimum conta ct with apical tissues ( 3 ) . Traditionally, the WL is determined by radiogram and/or electronic devices ( 4 ) . Radiograms have been normally used to find the root canal length. However, it is non rather predictable as a consequence of planar measuring of a 3-dimensional construction ( 5 ) . Besides, it is impossible to nail the exact location of the bottleneck, sing the fact that the apical hiatuss normally deviates to the side of the root and emerges at assorted distances within 3 millimeter from the anatomic vertex ( 6 ) . In add-on, the diagnostic value of radiogram is deeply influenced by superimposition of anatomical and cadaverous constructions, cone angulations, tooth disposition and movie processing, which can accordingly take to intra-operative variableness, magnification and image deformation ( 5,7,8 ) . Evidence has shown that when the file is introduced into the canal and estimated as short of the radiographic vertex, there is 93 % overestimate with the bisecting angle technique and 20 % with the paralleling technique ( 9 ) . Other disadvantages of the radiographic technique are j eopardies of ionising radiation, proficient mistakes and the clip needed ( 5,10 ) . Electronic vertex locaters ( EALs ) are now widely used to find the root canal length. They give more accurate measurings when compared to the radiographic technique ( 11 ) . The construct of electronic finding of the WL was foremost proposed by Custer in 1918 and followed by Suzuki, who discovered a changeless electrical opposition value of 6.5 ka„ ¦ between the periodontic ligament and the unwritten mucous membrane. In 1962 Sunada applied the rule to the clinical pattern and developed the first EALs ( 12 ) . Since so, four coevalss of EALs have been introduced. The first two coevalss had defects of hapless truth in the presence of electrolytes and needed standardization, which was overcome by subsequent coevalss ( 13 ) . The Root ZX vertex locater ( J. MoritaA Corp. , Tokyo, Japan ) measures the electric resistance ratio to turn up the apical bottleneck by utilizing two different frequences, irrespective of the type of the electrolyte in the canal, and requires no standardi zation ( 14 ) . The effects of assorted factors, such as file size ( 15 ) , file metal ( 16 ) , primary teething ( 17 ) , tooth type ( 18 ) , apex locater type ( 19 ) , apical hiatuss diameter ( 15 ) , canal diameter ( 20 ) , canal preflaring ( 21,22 ) , mush verve ( 23 ) , root reabsorption ( 24 ) , root break ( 25 ) , apical periodontal disease ( 26 ) , irrigant solution ( 27 ) and endodontic retreatment ( 28 ) , on the truth of EALs have been evaluated. Furthermore, tooth length fluctuations may impact the truth of EALs because a file is more likely to be interfered within long canals than short 1s in making the apical mention degree. There are no surveies available on the influence of tooth length, as a possible interfering factor, on the map of EALs. Thus, the purpose of this ex vivo survey was to measure the influence of tooth length on the truth of Root ZX vertex locater.Materials and MethodsForty extracted human maxillary eyetooths with a length scope of 27aˆ’29 millimeters were s elected. The dentitions were soaked in 5.25 % Na hypochlorite for three hours and rinsed in a bath with tap H2O for five proceedingss to take periodontic tissue leftovers. All the dentitions were checkedA for the absence of external clefts, unfastened vertexs, Restorations, root reabsorption, and old root canal intervention. The dentitions were placed in distilled H2O incorporating 10 % formol until needed. ConventionalA accessA pit was prepared with a unit of ammunition diamond bur and finished with Endo Z bur ( Dentsply Maillefer, Ballaigues, Switzerland ) under continuousA waterA spray. The same bur was used to make a level surface to hold a stable mention point. The leftovers of mush tissue and dust were removed with sizes 10 and 15 K-type files ( Dentsply Maillefer, Ballaigues, Switzerland ) . The coronal tierce of each canal was flared with sizes 2, 3, and 4 Gates-Glidden burs. The canals were irrigated with 2.5 % Na hypochlorite solution and normal saline utilizing a 27-gauge acerate leaf after each instrument. The patency of the apical hiatuss was confirmed with a size 10 K-type file. The full tooth length was mounted in self-curing acrylic rosin ( Vertex, Zeist, A Netherlands ) to ease sectioning except for the apical 3aˆ’4 millimeter of the root. In order to recover the entree pit throughA the acrylic rosin, it was covered with a cotton pellet followed by wax physiq ue up. The existent length was the distance from the coronal mention point to the major apical hiatuss, which was determined by infixing a size 10 or 15 K-type file into the canal until the file tip was merely seeable at the degree of the apical hiatuss under a surgical microscope ( OPMIA Primo, A CarlA Zeiss, Oberkochen, Germany ) at A-16 magnification. The silicone halt was carefully adjusted to the degree of mention point and the file was removed. The distance from the silicone halt to the file tip was recorded with an endodontic swayer to the nearest 0.25 millimeter under A-3A magnificationA of binocularA loupesA ( Heine, Herrsching, Germany ) . The electronic length was determined with a modified polythene box incorporating alginate ( Alginoplast ; Heraeus-Kulzer, Hanau, Germany ) asA describedA by Baldi et Al ( 29 ) . Two openings were made in the palpebras, one in the centre for puting the tooth, and the other laterally for puting the lip electrode of the electronic vertex locater. The root canals were irrigated with normal saline, with the extra being removed utilizing paper points before the electronic location process. The lip electrode was immersed in the several opening in the palpebra, coming into contact with the alginate ; a size 10 or 15 K-type file and 31 millimeter in length was so connected to the file electrode for electronic measuring. The file electrode was connected to the file at a distance of 1aˆ’3 millimeter from the mention point for all the measurings. The file was inserted into the canal until the device beeped the reading of â€Å" APEX † , bespeaking the major apical hiatuss. The silicone halt was so carefully adjusted to the mention degree. The file was removed and the distance from the silicone halt to the file tip was measured. The measurings were made within theA two toleranceA bounds of A ±0.5A and A ±1.0 millimeter. All the dentition ( runing from 27 to 29 millimeters in length ) were horizontally sectioned at 3 millimeter from the coronal mention plane to do the 2nd length group of 40 dentitions ( runing from 24 to 26 millimeters in length ) . The subdivisions were made with a water-cooled, slow-speed diamond saw sectioningA machine. In the same mode, decrease in the length by 3-mm cuts continued up to 6 subdivisions. Therefore, there were 7 groups with 40 dentitions in each group as follows: L1= 27aˆ’29 millimeter, L2=24aˆ’26 millimeter, L3=21aˆ’23 millimeter, L4=18aˆ’20 millimeter, L5=15aˆ’17 millimeter, L6=12aˆ’14 millimeter, and L7=9aˆ’11 mm ( Fig. 1 ) . After each subdivision, the existent and electronic root canal length measurings were made. All the measurings were made in triplicate, and the average value of the three readings was recorded.Statistical AnalysisDatas were analyzed utilizing SPSS package, version 15 ( SPSS Inc, Chicago, IL ) . Statistical analysis was carried out by the Pearson ‘s additive correlativity coefficient in two ways. First, the correlativity between the acceptable measurings at the 0.5- and 1.0-mm tolerance and the root canal lengths in the 7 length groups was analyzed. Second, the correlativity between the distance from the file tip to the apical hiatuss and the root canal lengths was evaluated. Correlation was important at 0.01 degree.ConsequencesIn 7 groups of 40 dentitions, a sum of 840 electronic measurings, three with each length, were made. Table 1 shows the per centum and figure of acceptable measurings for 7 length groups, determined by Root ZX vertex locater. Figure 2A shows scatter secret plan of the correlativity between the per centums of the acceptable measurings of the vertex locater and the root canal lengths in the 7 length groups for the two mistake scopes of A ±0.5 and A ±1 millimeter. There was a negative correlativity between the acc eptable measurings of apex locater and the root canal lengths in the 7 length groups for the two mistake scopes of A ±0.5 ( r=-0.975, P & lt ; 0.001 ) and A ±1 millimeter ( r=-0.889, P & lt ; 0.001 ) . Figure 2B shows scatter secret plan of the correlativity between the distance from the file tip to the apical hiatuss and root canal lengths. There was a positive correlativity between the distance from the file tip to the apical hiatuss and root canal lengths ( r=0.4, P & lt ; 0.001 ) .DiscussionIt has been reported that EALs are accurate in finding the working length in 31aˆ’100 % of the times ( 30,31 ) . The file intervention within the root canal infinite may act upon the truth of EALs. de Camargo et Al ( 21 ) and Ibarrola et Al ( 22 ) observed a better public presentation of the Root ZX vertex locater in the preflared canals. They reported that this may be attributed to the riddance of cervical dentin interventions. Herrera et Al ( 32 ) claimed that the preciseness of EALs might be influenced by the file size as smaller files leave infinite inside the canal whereas larger files fit tighter. Tooth length is another factor which can impact the file intervention within the root canal. There is a broad scope of tooth lengths for dentition in demand of root canal therapy. Maxillary eyetooths are the longest dentition with an mean length of 26.5 millimeters whereas maxillary 3rd grinders are the shortest dentition with an mean length of 17 millimeter ( 33 ) . Furthermore, factors such as dental cavities and injury can cut down tooth length. Since the file is more likely to be interfered within the canal in long dentitions than in short dentition, this survey was designed to find if the tooth length would act upon the truth of EALs. Since the purpose of this survey was to measure the influence of tooth length on the truth of the vertex locater, maxillary eyetooths were used as the longest dentition in the unwritten pit. Among these dentitions the long 1s with a length scope of 27aˆ’29 millimeters were selected. To extinguish the confounding factors, including apical hiatuss diameter, canal diameter, canal curvature, and to do the groups every bit homogenous as possible, the same dentition were used in the present survey with gradual length decrease to do dentitions with shorter lengths alternatively of utilizing different dentitions with a broad scope of lengths. Different apical mention points and experimental protocols have been established to measure the truth of EALs. Since the place of apical bottleneck and its relationship with the CDJ are extremely irregular ( 2,4,18,32 ) , the major apical hiatuss was a preferable apical mention point and †APEX † grade on the Root ZX show was used. Therefore, shaving the apical tierce of the root was unneeded. Baldi et Al ( 29 ) compared alginate, gelatin, saline, sponge, and agar as implanting media in the rating of the truth of EALs. They reported no statistically important differences between the media used. However, alginate provided the most consistent consequences. It has good electroconductive belongingss, reproduces the periodontium and is easy prepared. Therefore, the preferable embedding medium in this survey was alginate. Measurements attained within the A ±0.5-mm border of mistake, which is considered an acceptable tolerance scope, are extremely accurate ( 34 ) . However, A ±1-mm border of mistake is clinically assumed to be acceptable because a broad scope is seen in the form of the apical zone and due to the deficiency of exact limit of apical landmarks ( 35 ) . In this survey, both scopes of mistake were considered in measuring the truth of the electronic vertex locater. The average truth rates of Root ZX within A ±0.5- and A ±1-mm border of mistake were 72.86 % and 95 % , severally. Furthermore, the precise measuring with Root ZX apex locater was 4.07 % , consistent with the consequences of other surveies describing low proportion of exact measurings with the vertex locater ( 15,31 ) . The per centum of acceptable measurings to a tolerance of A ±0.5 millimeter was 52.50 % in the L1 group ( 27aˆ’29 millimeter ) , which increased by 10 % in the L2 group ( 24aˆ’26 millimeter ) . Overall, the truth of the electronic vertex locater increased bit by bit with consecutive tooth length decrease. It increased by 37.5 % in the L7 group ( 9aˆ’11 millimeter ) compared to the L1 group. Positive values mean that the file extended through the major apical hiatuss, whereas negative values mean the file tip was positioned before the major apical hiatuss. In this survey, high inclination of Root ZX was observed toward negative values. Besides of involvement was the specific form of distribution for acceptable measurings among the length groups. The high Numberss of the negative values in the first length group were bit by bit converted into positive values during the subsequent length decreases. Sing the technique used in this survey, which required consecutive tooth length decreases, it was non practical to execute an in vivo experiment. However, Duran-Sindreu et Al ( 36 ) demonstrated no statistically important differences in the truth of Root ZX electronic vertex locater between in vivo and in vitro theoretical accounts.DecisionUnder the conditions of the present survey, the truth of the electronic vertex locater was influenced by tooth length. The electronic vertex locater provided higher truth in short dentitions compared to longer 1s. FurtherA studiesA areA neededA toA confirmA these findings.

Mudule guide

By the end of this module, successful students will typically be able to; demonstrate the ability to critically analyse and evaluate the reality of complex IHRM and employment relations issues from a variety of perspectives; demonstrate the ability to relate theory to practice; demonstrate the ability to evaluate the relative strengths and weaknesses of selected national HRI employment relations systems; demonstrate the ability to undertake ystematic management research as required by module assessments and in- module participation, synthesise information and reference appropriately; communicate effectively verbally and in writing; demonstrate the ability to use initiative and independence in study and application. 3 Format of Delivery There is one lecture (1 hour) and one seminar (1 hour) per week. 4 How StudyNet will be used to support this module StudyNet will be used for providing lecture notes and other materials relating to each session. These will be accessible prior to each l ecture. StudyNet will be used for all ommunication on the module. Additional reading and links to Journal articles will be put in the ‘Additional Reading folder under ‘Teaching Resources'. You should consult this folder on a regular basis as the readin supports your module.Teaching methods used on this module The module will use a variety of teaching methods which include lectures, seminars and workshops. A feature of the module is the emphasis placed upon student presented seminars. Students are expected to participate fully in the module. Prior to each session, they are expected to familiarise themselves with the lecture topic by rawing upon the detailed guided reading and to read selectively from the seminar reading list. In addition, they are encouraged to keep abreast of current events and be prepared to discuss these and their own work experiences (where appropriate) in the seminar groups. This variety of methods will enable students to effectively achieve the modu le learning outcomes.Students are expected to attend this module regularly as an essential part of their learning lies not only in the lecture but also in the contribution that students make to the seminar programme. If students are unable to attend, they must advise the tutors. a Module schedule and lecture/seminar information In this section you will find a week by week schedule for this module. There is one lecture (1 hour) and one seminar (1 hour) per week. Please note that there are sometimes unforeseen circumstances, such as staff illness, that may necessitate communicate these changes to you in good time. The table below provides a summary of the teaching programme. You need to consult the full schedule for the directed reading.

Feste Analysis in the First and Second Act of Twealth Night

Fools in Shakespeare’s plays appear often. In Othello, the Tempest, Macbeth and many others, the buffoon is represented as an eclectic person paid to say the truth in a comic manner through songs and jokes. Even though Feste in Twelth Night does not speak frequently in the first and second acts, he says enough for us to see that he is an observant and clever man. Firstly, well associated with the spirit of the twelfth night, the night where society reverses roles, Feste reflects joy. His name is a great example of the happiness he expresses. Feste sounds a lot like the French word  «fete », which means party.In every scene he plays in the second act, he starts to sing. He says to Orsino that he takes  «pleasure in singing » which truly proves his delight in what he does. In other words, he is a man that likes his job. But the name Feste associates with the twelfth night in a traditional way too. He is allowed to say whatever he wishes because he is a licensed fool, as we found out when Olivia referred to him as  «an allowed fool ». This freedom of speech fits in well with the reversal of roles involved in the 12th night ritual. When Olivia orders  «take away the fool », he answers  «take away the lady ».This disrespectful answer would have ended the employment of any of the other servants of the lady. But, even considering the fixed hierarchical structure of society at the time, Feste can say whatever he thinks as long as he says it in song or in a comic manner. Moreover, Feste’s job contrasts with his abilities. Since he is a fool, we expect him to be illiterate, certainly not very perspicacious, but on the contrary, he turns out to be the most intelligent character of the play. This is shown by his developed sense of repartee hidden through his role of jester.For example, in the last scene of the first Act, Maria criticizes Feste of having no real bravery, as he pretends to have, compared with soldiers. He answers that everyo ne should do what he is good at ( «And those that are fools, let them use their talent.  »). This response seems wise and philosophical. But Feste as a fool is obviously someone with a great sense of humor. Over five hundred years, many ideas about life and society have changed and evolved, but humor has remained universal. Feste’s talent and ability is to shield himself with his persona as a fool, but to offer insights and insults of a very wise man.He never behaves badly or in a juvenile way: playing around with food, drinks or other accessories. His only accessory is language. Scene 3 of Act 2, Sir Andrew jokes about Feste because of his status but Feste replies:  «How now, my hearts! Did you never see the picture of â€Å"We Three†?  » implying that Sir Andrew, Sir Toby and himself are fools. This short answer is hilarious because Sir Andrew is wordless but the silky tone emphasize the comic feature of the quote. It seems to me that fools like Feste have tw o roles in Shakespeare’s plays.First, they provide comic relief to what might otherwise be a heavy, if not depressing story. We look forward to their appearance to give us an uplift from the more serious developments in the plot. Without the fool this story would have had a totally different tone, simply a depressing tragedy. Second, they are the characters with which we, the audience, identify. Yes, we too are really insightful and we too see all the foibles and vices of the characters and we too would express our thoughts and observations through witty banter if we lived in these social circles in these times, or so we like to think.

Management Research Exam Questions Assignment Example | Topics and Well Written Essays - 1500 words

Management Research Exam Questions - Assignment Example Firstly, the ordinal scale of measurement is one that attempts to provide a ranking of different orders. For instance, 1st, 2nd, 3rd, and 4th would be considered as ordinal. Such a ranking and listing is useful in many cases as a means of providing a degree of perspective for the researcher/reader that would otherwise not be reflected. Similarly, nominal variables are those that are generally entirely qualitative. As such, the differential between one item and another is predicated first and foremost upon the names that they individually represent and the means through which comparison can be drawn based upon this. Examples of nominal ranking and variables can be understood with regards to style, genre, and or biology. Interval scales/variables are useful with regards to understanding a degree of difference. For instance, the temperature scale of Celsius would be a perfect example. One can clearly denote that a temperature shift from 20-40 degrees in Celsius would represent a situati on in which it becomes â€Å"twice as hot† as it was previously. As such, an interval scale need not only be applied to scientific measurement. As with so many of the other scales that exist throughout this discussion, an interval scale is also useful with regards to applying it in any litany of different situations. Finally, ratio type variables are useful in helping to measure or understand a type of differential between two otherwise non-comparable entities. Ratios are used in a great variety of different genres but are most specifically useful with regards to comparing impact or profitability of one group as compared to another. However, with that being said, ratios, although not used within the hard sciences to the same extent to which the other means of measurement are, can be effective in denoting the differential between two forms of measurement. Whereas it may seem as somewhat confusing what the reason and/or rational is behind all of these different forms of variabl es/measurement; however, the fact of the matter is that they all ultimately serve the same root purpose. This purpose is namely to allow the individual to categorize and define the broad levels of information that greet them during the course of the human experience. b. Discuss how each of them may be used in management research. Provide examples to support your discussion. A primary usage of the ordinal scale would be with regards to comparing and contrasting work performance based upon those that have been able to exhibit a very high percentage of efficiency/profitability or utility for the firm or organization in question. This ordinal scale is useful within the realm of management but should not be overused as there are unique human emotions and dynamics that tend to get lost when one focuses specifically upon a ranking of individuals or work goals that can be compared to one another. Ultimately, even though the ordinal scale is useful, the practitioner should seek to vary their approach to using this scale due to the fact that overuse would lend itself to something of a type of scientific management. The use of nominal variables is especially helpful with respect to allowing a particular stakeholder to understanding the realities of the work that is being performed. As compared to ordinal scales or variables, nominal ones do not require that an individual categorize or compare themselves based upon a ranking. Rather, the numbers

Impact of Brand Personality on the Purchasing Decision Research Paper

Impact of Brand Personality on the Purchasing Decision - Research Paper Example During this period there were explosion of brands. Starting from mere cigarettes and soaps to luxury cars, a number of brands appeared which led human being to witness the modern form of marketing. Understanding the manner in which those marketing concepts evolved, will help to get better idea about why branded products are omnipresent nowadays. If we move back to the time when the concept of branding was unknown to human being, the theory of business was also very simple. The only criterion for being successful in trading was to manufacture superior quality products. For instance, if a company offered high quality coffee, bear or any other products, the customers were happy to buy those products. Moreover as long as the company maintained the same quality, repeat purchase was also common. It was also a time when consumers were more focused on the quality of products rather than the brand name associated with it. The report will primarily highlight the concepts of branding and the id eas related to it. In this context brand personality, brand value etc will be emphasized. Furthermore the importance and advantages of a brand will be also portrayed. The study will also analyze one of my recent purchases of a branded product. Finally the study will conclude highlighting the key areas and answering the question whether consumers often choose and use brands that have a brand personality or not. Brand & Brand Equity Traditionally the role of a brand was just about providing a name or an identity to the product (Baehrens, 2012). However presently eminent scholars such as De Mozota defined brand as the group of perceptions which is determined by both experience and communication. It can also be referred to as the addition of the characteristics of intangible and tangible which is used to make exclusive offers (DeMozota, 2003, Brand). A brand influences the perception of the customers about the company and therefore brands should be developed for its betterment (Adebola, Talabi, & Lamidi, 2012, pp.424-428). In addition, branding is also portrayed as the way by which an organization develops and delivers the propositions to the consumers. Nevertheless the assurance can be in the context of experimental enrichment, functional satisfaction or fulfillment of the aspirations (Baker, 2012, p.376). Usually, a brand is developed on the basis of 5 factors. They are design, positioning, customer relationship, storytelling and price (Healey, 2008, p.8). Some of the illustrious branded products are Nescafe, Marlboro-Clove, Kindle, Gucci, Apple, Samsung and Turtle among many others. In the similar approach brand value has also been identified as the biggest asset of the companies. It can be defined as extra cash flow earned by relating a brand with the goods and services (Aaker & Biel, 1993, p.69). Brand Personality Brand personality in simple terms can be defined as the way by which a brand speaks or how it behaves. It is process by which a brand is assigned w ith the human characteristics or personality traits with the brand in order to achieve some kind of differentiation to the product. These characteristics in turn signify the brand behavior with the help of its representatives. The representatives of a brand are the employees of the organization and packaging & advertisements of the company.

A Case of Lengthier Annual Reports Essay Example | Topics and Well Written Essays - 1000 words

A Case of Lengthier Annual Reports - Essay Example It also includes the company’s mission statement and pertinent financial statements (Holmes, Sugden, & Gee, 2008). While annual reports used to fall considerably below the 100-page mark during the last decade, a survey by business advisory firm Deloitte shows that in 2010, the average length of annual reports has reached an all-time high of 101 pages (Deloitte, 2010). Interestingly enough, the lengthiest reports are littered with more advertisement-like photographs and captions than relevant narratives and figures. These are the supposed culprits of reports being lengthier than they used to be. Such a phenomenon is of primary interest because of the impact that this has on the ability of such reports to serve their true purpose. Questions arise as to whether lengthier reports actually provide readers with more information or additional confusion? Do the long reports indicate that companies are revealing more of their respective businesses’ actual performance or are they merely an effort to gloss over weaknesses that new regulatory rules aim to draw out? Do lengthier reports mean more substance or just more clutter? This paper attempts to provide answers to these questions and adequately support the claims made herein by extracts from actual company annual reports. Company reports included are those of Ericssion, Carlsberg, and Walmart. Reasons for the increasing length of annual reports According to Isobel Sharp, an audit partner at Deloitte, annual reports are significantly increasing in length because companies are now revealing their company’s business risks and even having important performance indicators disclosed in their reports. Moreover, corporates now provide a director’s responsibility statement, a requirement introduced around four years ago as a consequence of EU’s Transparency Obligations Directive (Deloitte, 2010). Essentially, the many rules that are brought up in recent years are also being blamed for the cons istently rising trend in annual report length. However, the Financial Reporting Council (FRC) of UK points out that company reports in general are trying to please too many users at the same time, hence the almost unstoppable increasing trend in the length of annual reports (UK FRC, 2010). Preparers try to put in as much additional information as they can in an attempt to make the reports as appealing to current and prospective investors as possible (Campbell & Slack, 2008). One company that illustrates this is the 163-page Annual Report by the Carlsberg Group of companies which feels so much more like a 163-page advertisement, with pages that are more fitting in a magazine than in a business report. On the other hand, Boeing’s annual report cannot be more straightforward in its layout and content. Yet, the company needed 156 pages to provide all the data needed and required by regulatory institutions. These two examples illustrate that the burgeoning lengths of annual report s are both a result of additional requirements from regulatory institutions, and the trying-to-please-everybody approach of report preparers. If these requirements are further increased in the future, then lengthier annual reports may definitely be expected. Experts are even hinting that 200 page mark may not be far from being surpassed considering the current trend of adding more and more arguably irrelevant pages to annual reports. More words: For better or for worse? Preparers of annual reports reveal that because of the need to effectively inform shareholders of what is happening in the business, and the need to be able to satisfy the disclosure rules set by regulators, more words are apparently needed (The FRC, 2011). However,

Sidney becket Research Paper Example | Topics and Well Written Essays - 1000 words - 1

Sidney becket - Research Paper Example Bechet’s contributions to jazz music helped to define and legitimize the genre in creating recognition for the form as complex and engaging. Although different accounts dispute whether or not he could read music, he preferred not to, his ear perfect and suited for defining music to get to its soul. Bechet was born in 1897 to a family that was part of the Creole culture of New Orleans. Creole origins refer to those of Spanish or French heritage that populated the New Orleans region. Black Creole refers to those children of plantation owners and slaves that were able to gain their freedom. According to the Black Code of 1724, children of owners and slaves were allowed to be freed and could then own land. Many of the Black Creoles owned plantations and held successful businesses, giving them a vital position in New Orleans society. From the freedoms that money allowed, came the opportunity to pursue the arts. As well, most of their children were sent to France for an education and this wealthy class tended to be more associated with their European roots than the America in which they lived. Classical music was a part of the culture, and when combined with ragtime, European style dance music, and rich traditions of folk music, jazz was born (Kirchner 48). Thus, a great number of j azz musicians came out of New Orleans. Bechet’s musical talent was discovered when he was just a child. He bought a ten cent tin flute when he was twelve and revealed his talent on this toy instrument in such a way as to impress earn him the title â€Å"Wizard of Jazz†. He soon got a clarinet and took to disassembling the instrument and turning up randomly at the concerts of local bands and taking the stage. He left the audiences in awe of his talent (31). After his adolescence, he traveled the United States playing his music until he was discovered by Will Marion Cook in 1919 who offered him a space in the New York

Health sysytems and government response to AIDS in America Essay

Health sysytems and government response to AIDS in America - Essay Example There is a common saying regarding AIDS that â€Å"you are either infected or affected†. This is because when one is infected with AIDS, faces the pain associated with the illness and emotional torture as one feels that unmet goals and objectives in life are no longer attainable; one also feels socially unfit to carry the normal life used to live before the infection. Someone who is free of the virus is affected since has to commit his time and resources in supporting the infected one. More precisely, the individual suffering, household, families, and the economy experience the effects of HIV/AIDS. Ones contributes to the growth of the economy is likely to decline and eventually stop as the stages of the illness progress. This is because the individual is dependent on others and the government on daily bases for food and treatment. The government and health systems have put a lot of emphasis on controlling the disease by establishing Voluntary Centers for testing. Currently there is a huge network of testing centers all over America to provide citizens with free services where they can get to know their status, get guidelines on how to stay free from the virus and if affected, the control and management practices. Although this is a positive initiative, the government does not provide enough well trained nurses to deliver the services; this is a drawback. More so, people have fear for stigma from those who offer the services, therefore the government is working to provide testing kits whereby one can perform the test within his privacy and convenient time. (Augustus 43). The government has identified that most youths are at high risk to contract (Chris 490) AIDS due to idleness and lack of employment. With the high rates of inflation and unemployment, many people lack employment hence in order to sustain their daily lives, they indulge in irresponsible sexual activities. This increases the rate of AIDS infections. The government has stepped in to offer technical trainings and job opportunities to encourage the youths not involve themselves in such risky behaviors. The government has also established rehabilitation centers for sex addicts where they get support and guidance on reformation. Commercial sex workers have higher chances of contracting AIDS due to the sexual association with many people. Such centers offer them information on how to change their behaviors and how get finances from moral activities. The government and other health systems have responded to the AIDS epidemic by establishing children homes for both HIV positive children and orphaned children due to AIDS. These children are offered free education and home care. Although this is a very essential

Meal evaluation Essay Example | Topics and Well Written Essays - 2000 words

Meal evaluation - Essay Example It is generally originates from a plant or animal and contains essential nutrients such as fats, proteins, vitamins carbohydrates, or minerals. It can simply be said as the substance that is ingested by an organism or assimilated by the organism's cells in the effort to maintain life, produce energy, and/or stimulate growth. Human body runs on the food and a balanced mixture of many other foods that enables a smooth running of the body. It is very important to eat healthy foods as it helps improve body functions, body growth, and provides protection from sickness. Everyone, from any age, child to an adult, needs healthy eating habit for better and longer life. Though, most people are usually aware of the importance of healthy eating, yet only a few tend to follow such. Almost many tend to realize the importance of these only when they fall sick. The Importance of Healthy eating Nutrients from the food provide the cells with the fuels to run the body. A human body lacking proper nutri ents is vulnerable to disease more causing viruses and bacteria’s. The energy required for the performance of body functions, both mental and physical, can come from the fat already preserve in the body. The imbalance that is caused by disrupted fat level in body can either just lead to obesity or even malnutrition, both of which is more or like dangerous for the body. A human body suffering from such has a high chance of attracting many diseases such as cancer, diabetes, heart dysfunction, osteoporosis and many others. Therefore, it’s important to eat healthy and Amazon restaurant takes care of such, inclusive in its venue are foods with healthy ingredients. Examples of Healthy Dishes served at Amazon Restaurant Few of the healthy dishes include (Exotic Menu in Amazon Restaurant) 1. Arroz com lentilha (healthy ingredients include boiled rice, butter onions etc) 2. Rizoto de Frango (healthy ingredients include olives, chicken, cheese, peas, corn, herbs etc) 3. Carioca Beans (healthy ingredients include red beans, cassava flour, bacon, parsley served with boiled rice) Health Issues these days (actual examples) Health Issues Health issues are caused by eating food or of drinking beverages that are contaminated with bacteria, parasites, or viruses. Such harmful chemicals can cause food borne illnesses if such have contaminated food during the harvesting or it’s processing. Food borne illnesses have symptoms that range from upset stomach to the more serious symptoms, including fever, vomiting, diarrhea, abdominal cramps, including dehydration. (Principles and Practice of Infectious Diseases) In the United Kingdom year 2000 the individual bacteria involved there were as follows: Salmonella20. 9% , Campylobacter jejuni 77.3 % Escherichia coli O157:H7 1.4%, and all the others less than 0.1% (Food Standards Agency) Food safety is the increasingly grave public health issue. Governments just all over the world are deepening their efforts to promote health and food safety. In the UK serious outbreaks of food borne illness since year 1970s prompted key changes in UK food safety law. These efforts are just in response to the ever increasing food safety problems and rising consumer concerns. Actual Examples: 1. The global incidence of food borne disease is very difficult to quantify, but in 2005 alone 1.8 million people died from diarrheal diseases. A greater proportion of such can be attributed to the contamination of food and the

Consumer law in england and wales Article Example | Topics and Well Written Essays - 3250 words

Consumer law in england and wales - Article Example Accordingly, in this paper I shall adopt a focused approach and particularly consider the e-commerce driven consumer measures and their concomitant impact on consumer law in England and Wales. The rapid pace of online business activity has fuelled piecemeal responsive legislative measures in an attempt to balance the interests and protection of consumers whilst simultaneously facilitating market growth. It is submitted at the outset, that ad hoc responsive EU legislative measures have been insufficient to cover the multifarious consumer transactions covered by the "e-commerce" umbrella. Moreover, the underlying weakness in such measures has been the fact that effective online business is clearly dependent on effective consumer protection as opposed to being mutually exclusive. If we consider this contextually, within England and Wales the primary issue impacting consumer protection under the e-commerce paradigm has been effective consumer protection vis-'-vis optimum market facilitation. ... Additionally, in order to commercially exploit the new e-commerce business model, the key to growing a successful online business is to ensure compliance with legal requirements regarding the selling of goods and services to consumers, work with reliable internet service providers and programmers and utilise effective marketing tools to promote business (Alexiou, 2002). As such, the central consumer protection legal issues raised by this are as follows: 1) The use of online terms and conditions - Standard commercial agreements need to consider the protection against unfair commercial practices and unfair contract terms (Singleton, 2003). Moreover, consumer contracting on online terms and conditions raises jurisdiction and applicable law issues; and 2) Data protection compliance needs to be addressed both in respect of collecting information on online users, selling customer lists and monitoring e-mail and viral marketing. Businesses must be registered with the Information Commissioner for processing and implement an online privacy policy and marketing and detailed internal policies on employee monitoring (Smith, 2001). Furthermore, the e-commerce business model involves the provision of goods and services online in the course of business to consumers at a distance and as such, raises issues as to applicable law and enforceability, which is further compounded by borderless frontiers in enforcement (Smith, 2001). The global nature of transacting online has fuelled a number of international e-commerce initiatives (Lloyd 2004). However, the rhetoric of these proposed models focus solely on the regulatory aspect of e-commerce, which is arguably one element of wider issues raised by e-commerce from a

Case analysis Study Example | Topics and Well Written Essays - 1250 words - 4

Analysis - Case Study Example Under the space shuttle program, NASA launched the Challenger and hired Thiokol to supply SRB (SRB). SRB was a fuel system consisting of a combination of both solid and liquid systems. It was cheaper, and NASA found it sustainable, in the long run. A. Economic: NASA operated in a hostile economic environment because it experienced a reduction in budgetary allocation since its inception. Over the years, the government cut its budgetary allocation to the organization. For instance, the government reduced its budgetary allocation by 5.1 billion thus forcing NASA to seek alternative funding. Additionally, NASA was experiencing high costs of producing its shuttles thus the need to adopt SRB. Fortunately, NASA got the financial support of the U.S. Air Force, and it sustained its operations up to 1986. B. Political: NASA was formed by the government and enjoyed the full support of the government during its early times. It had the goodwill of the government because the U.S. government was using it to dominate the field of space exploration. Thus, it was a government project and its operations were influenced by government policies. C. Technological: NASA was operating its rockets using an all-liquid fuel system and was incurring huge costs of operation. Later on, the organization modified its shuttle design to reflect low costs. Consequently, NASA adopted the SRB fuel system. Roger Boisjoly worked for Morton Thiokol as an engineer and was objected to the launch of the Challenger because of temperature issues. Morton Thiokol was one of the two organizations that were involved in the shuttle program along with NASA. Roger was against the launch of the Challenger because he believed that there were some unresolved issues about the O-rings technology. According to Roger Boisjoly, a past research study found out that the O-rings were rigid and could not seal at low temperatures. He found out that the O-rings has Case analysis Study Example | Topics and Well Written Essays - 1500 words - 1 Analysis - Case Study Example The company has diversified and integrated product and service portfolio that include web search, Google Chrome, Google News, Google Scholar, Google Docs, Google Analytics, Google Apps, Google AdSense, Google Adword, You Tube, Google Maps, and Google Earth (Eldeman & Eisenmann, p 1). The factors that determine the paid listings provider’s revenues include the coverage rate, the average cost per click, the click-through-rate and revenue split (Eldeman & Eisenmann, p 4). Google has an extensive coverage rate and has improved the click-through rates through innovation of the keywords. The revenue split is the percentage of revenues paid to network affiliates and ordinary partners receive about 60 percent of revenue share (Eldeman & Eisenmann, p 3). Google now controls approximately 90 percent of the internet searches and has diversified its operations to other products such as mobile and cloud computing, music and video distribution (Eldeman & Eisenmann, p 8) The corporate strategy of Google is aimed at organizing world’s information in a manner that makes it more accessible and useful. The company is committed to informing, educating and entertaining the users through diversified products and services. The company is currently attaining growth through vertical integration with suppliers and diversification strategy that has led to addition to new different products to its mix (Daft, 2009). The business strategy of Google is aimed at ensuring consistent technological innovation and sustained acquisitions that will lead to revenue growth and satisfy emerging customer needs (Daft, 2009). The business strategy is geared at developing distinctive competencies and identifying new market niches such as the Google Checkout and Google TV (Google, 2014). Google has deployed several functional strategies such as innovation and use of superior search engine technology,

The Great Depression Essay Example for Free

The Great Depression Essay A large amount of literature including research and text books, exist on the subject of the Great Depression. It is considered by many economists as the worst economic crisis in American History. Statistics suggest that from the business cycle peak in 1929 to the trough in 1933, the real Gross Domestic Product (GDP) contracted by 39%. From 1929 to 1933, the unemployment rate rose from 3. 2% to 25% any may who had jobs were only able to work part-time. By 1933, 50% of American banks had failed. From 1929 to 1933, the consumer price index (CPI) fell by -25%. The Dow Jones industrial average fell -89. 2% between September 1929 and March 1933. Net investment was negative from 1931 to 1935 and the economy experienced a sharp decline in aggregate real income, then there were massive defaults and bankruptcies by business and households (Bernanke. S, 2004, White, 2009). But what caused the great depression? Or rather, why did the recession of 1929 turn into a depression? Calomiris (1983) remarks there is still very little consensus amongst economist on this question. Before Maynard Keynes (1936) General Theory of Employment, Interest and Money, economist relied on the Classical approach both to manage and explain the Great Depression. However, the classical theory could not explain a lot of the data at the time; for instance, it could not explain the protracted unemployment (Keynes, 1936). This signified the need for a new theory of macroeconomics. Such a theory was provided by Keynes. The essence of Keynes theory is contained in the simple aggregate demand model. Keynes identified the collapse of the growth in the 1920s as part of the problem. In his opinion, the collapse of growth led to a reduction in investment opportunities and a downward shift in investment demand. The unprecedented levels of unemployment could also be explained by the collapse of aggregate spending. Keynes along with Irvin Fischer (1933) also identified the financial markets as important sources and propagators of economic decline during the Great Depression (Calomoris, 1983). However, the exact nature of this connection is still a hot topic of debate, and this is where much of the literature on the great depression can be found. According to Keynes theory of aggregate demand, monetary policy had no causal role in the Great Depression (Mishkin, 2007). Mishkin (2007 p 588) argues that this assumption was based on three pieces of evidence. He states that during the Great Depression; interest rates on U. S treasury securities were extremely low (Below 1%). To the early Keynesians, the low nominal interest rate meant that the monetary policy was easy – expansionary (Hamilton, 1987). The second assumption was underpinned by the lack of empirical evidence on the co-movement between nominal interest rates and investments spending. While the third assumption was based on the fact that surveys by macroeconomists carried on businessmen indicated that their decision to invest was not influenced by market interest rates (Mishkin, 2007). In 1963, Friedman and Schwartz published the Monetary History of the United States in which they outlined a theory implicating money supply as the major cause of the Great Depression. In their opinion, what transformed the recession of 1929 into a depression were the imprudent policies by the Federal Reserve, which led to the stock market crash; and to the waves of banking failures which reduced the money multiplier and the money stock (Bernanke, 1983a; Friedman and Swartz, 1963). The figure 1 below shows the close correlation between GDP and the money stock. Friedman and Swartz countered the Keynesians argument that interest rates on U. S. treasury securities and high grade corporate bonds were low was countered by the observation that interest rates on lower grade bonds rose radically during the peak of contraction (between 1930-1933) this indicated that monetary policy was tight (Mishkin, 2007). The second reason why the Keynesian assumptions were regarded as misleading on the question of the tightness of the monetary policy during the depression was that; in a period of deflation; the important interest-rate transmission mechanism is through the real interest rate and not the nominal interest rate, hence low nominal interest rates do not necessarily mean that cost of borrowing is low and that monetary policy is easy since public expectation of a reduction in price levels can increase real interest rates (Hiuzinga, 1986; Summers, 1984). A good example of how the real-nominal interest rate relationship affected the U. S. economy during the Great Depression was seen in the housing sector. Wheelock reports that even though the nominal value of mortgage dept peaked in 1930, deflation caused a rise in the real value of outstanding mortgage dept up to 1832. Thus the outstanding mortgage dept burden increased sharply during the contraction phase of the depression (Wheelock, 2008). Researchers also criticized the use of Structural Model evidence by Keynesians. Mishkin (2007) argues that the quality of this type of evidence is dictated by the goodness of the model used. Friedman and Swartz narrative on the Great depression was that the original trigger of the Great Depression was the, 1928, Federal Reserve attempt to contain inflated share prices at Wall Street which they attributed to speculative activity. To accomplish this, they raised the policy interest rate. This depressed interest-sensitive spending in areas such as construction and Motor industry. This in turn induced a drop in production and investments, which led to reduced hiring of workers by companies. The tightening of the monetary policy through the recession which begun in August 1929 precipitated the October 1929, stock market crash (Hamilton, 1987, Bernanke, 2002b). The stock market crash eroded the nation’s accumulated savings, leading to a reduction in aggregate demand. From 1930, the contracting economy triggered successive waves of widespread banking panics (Calomiris etal, 2003; Hamilton, 1987; Chandler, 1970). Bank failures and hoarding of cash increased both the currency deposit ratio and the reserve – deposit hence a decline in money stock; this added to the deflationary pressures (Bernanke, 2007b; White, 1984). They asserted that â€Å"failure by the Fed to reverse the decline in money stock with open market operations and loans to banks through discount windows added further pressure to the economy (Friedman, 1963). † According to them, the 1937 -1938 recession was triggered by the Fed’s attempt to stimulate lending by doubling of the required reserve – ratio, this had the opposite effect. Mishkin (2007) writes that the importance of this theory to most economists is that it opened a whole new connection between the financial sector and the macroeconomy. Another important contribution was that it suggested new research agenda; Calomiris (1993) summarized them thus: 1) Can the reduction in money stocks from 1930 to 1933 explain the bank failures or did they have a separate origin? 2) Was the demand for money stable given the low nominal short term interests rates in the 1930s or was there a liquidity trap 3) Could nominal price and wage rigidity offer an adequate explanation for the persistent stagnation during the 1930s? 4) Were policy failures by the Fed actions acts of omission or commission or did they represent the application of the old classical theories to new circumstances? 5) Were open market operations by the Fed, unaccompanied by reforms in the monetary and bank regulations, sufficient in reversing the 1930-1933 stagnation? Following the publication of the Monetary History, economist focused either on confirming Friedman and Swartz assertions or in researching the implications of their findings. For two decades, the focus was mainly on the first three questions. Unfortunately, economists restricted there inquiries within the framework of the sticky-price, IS-LM paradigm. This approach severely limited the search for alternative transmission mechanisms between financial markets and the macroeconomy (Bernanke, 1983). Support for the Monetarist theory has come from formal statistical tests which examined the correlations between money and aggregate spending (Mishkin, 2007) a number of researchers found that there was no liquidity trap during the 30s; therefore, money supply shocks could have had an important effect on aggregate output (Meltzer, 1963; Temin, 1989). Field argued that the pre-depression stock market boom increased money demand and that this was not offset by corresponding increase in money supply. This resulted in increases in the interest rates and in deflation (Field, 1984). Evidence corroborating Friedman-Swartz illiquidity hypothesis as the trigger of the bank failures came from data on bank suspensions aggregated at national or regional level, this data show a correlation between bank failures and turning points in indices of industrial production, the money supply, the money multiplier, interest rate, and deflation rate (Friedman, 1963; Wicker, 1980). According to White (1984, p 138), the first bank failures in the 1930 were not unique; rather, it was a continuation of the banking failures of the 1920s. Recently studies by Calomiris and Joseph (2003) have revealed a strong correlations between the characteristics of banks, the economic environment in which they operated and their chances of survival. The thesis that banks failures were not panic induced, but were a continuation of the bank failures of the 1920s, which were linked to bank overbuilding suggested a lesser role of bank failures as a transmission mechanism. Other critics â€Å"advocated additional exogenous expenditure shocks to explain the cause of the depression noting that the real money stock had not contracted during the early stages of the depression (Temin,1976; Bernanke,1983 ). † At the same time, some scholars argued that the reduction in money stocks during the initial stages of the depression was not large enough to trigger the depression (Meltzer, 2003) In short, economists realized that money shocks alone could not have transformed the recession into a depression. Thus, additional link were needed between the financial markets and the macroeconomy. Bernanke captured it this way in his 1983 research paper: â€Å"One problem is that there is no theory of monetary effect {per se} on the real economy that can explain protracted non neutrality. Another is that the reduction of money supply in the period seems quantitatively insufficient to explain the subsequent fall in output (Bernanke, 1983, p257)† The new paradigm shift came with the application of theoretical models of credit allocation under asymmetric information in imperfect markets to the Great Depression. Mishkin was the first to apply this model in his study of the impact of changes in household balance sheet and consumer spending during the Great Depression (Mishkin, 1978). He argued that â€Å"in the 1930s, the depressive effect of aggregate wealth reduction on consumption was compounded by the dept deflation which in turn reduced aggregate consumption demand. Using empirical evidence, Bernanke research suggests that the efficiency of credit allocation was reduced under imperfect market conditions of the 1930s and that aggregate demand was reduced by the resulting higher cost and reduced availability of credit (Bernanke, 1983). This process, in his opinion, can account for he protracted length of the great depression. Taken together, this new paradigm was not a rejection of Friedman and Swartz thesis, it merely showed that the monetary shock and other events in the early phase of the Depression prolonged the Depression through there effect on the institutional structure of the credit markets and the balance sheet of borrowers (White, 1984; Romer,1989). In short, macroeconomists have concluded that the tendency of banks to respond to deposit outflows and increased risk of loan defaults by freezing credit can aggravate recessions, magnifying declines in investment, production and asset prices (Calomiris, 2008) The focus on deflation and financial collapse throughout the world also suggested ways through which the depression was channeled to other countries. Currently, economists agree that the gold standard played an important role in transmitting the economic decline in America to the rest of the world (Campa, 1990; Bernanke, 2002b) under the gold standard; trade imbalances gave rise to international gold flows. In his analysis of international transmission of the American Depression, Kindleberger reasoned that that the stock market collapse and deflationary shocks triggered a liquidity squeeze, a reduction in bank lending and the international financial collapse of the 1930s i. e. the lack of access to credit forced less-developed countries to use up their gold and foreign exchange reserves; this forced them to sell old quantities of primary products at reduced prices (Kindleberger, 1973). He also noted that the depression was more protracted in countries which stuck to the gold standard The countries that abandoned gold pursued independent monetary policy and were able to rebound faster. International studies correlating adherence to the gold standard, deflation and continued economic decline have confirmed this argument (Bernanke and James, 1991; Eichengreen, 1992). Economists also believe that the enactment of The Smoot-Hawley Tariff which was supposed to protect American Farmers triggered a counterproductive wave of protectionist measures around the world, which worsened the depression (Draghi, 2009; Hamilton, 1987, Meltzer, 1963) Although most of these debates occurred after the Great Depression, scholars now agree that both inept fiscal and monetary policies transformed a normal business cycle into a depression. Since monetary contraction was part of the problem during the Depression. Currency devaluation and monetary expansions had to play a leading role in the recovery process. A number of commentators have shown that the American money supply increased by 42% between 1933 and 1937 and worldwide monetary expansion led to a lowering of interest rates and easy access to credit (Mishkin, 1991). Economists argue that since fiscal expansion can reduce expectation of deflation, they can reduce the cost of borrowing (Romer, 2009). Keynes theory that government spending, tax cuts, and monetary expansion are essential in countering recession can also be justified in light of historical evidence. Economists reason that the massive government spending, such as the New deal program {specifically Work Progress Administration (WPA) and Agricultural Adjustment Administration (AAA)} reignited the economy (Calomiris and Mason 2003, Romer 1989, Temin 1989). In fact, the general consensus among scholars is that the economy â€Å"American economy began to recover with a new monetary expansion and spending in preparation for war (White, 2009b). † Concerning Banking sector reform, the view on the Bank Holiday is that it was a dramatic and effective remedy. The other reforms have also drawn support from Great Depression scholars (Blinder, 2008; Gapper, 2007; White, 2009b). These reforms saw the creation of a number of regulations and institutions, Banking Act of 1933 (commonly known as Glass Steagall Act) – the act prohibited commercial banks from underwriting of dealing in corporate securities. Insurance of bank deposits by FDIC was designed to prevent depression type bank runs. SEC regulated investment and Federal Home Loan Bank (FHLB) guaranteed Residential mortgage loans. Collectively, scholars now believe that these regulations insulated America’s banking system from the booms and busts of the financial markets (Russell, 2008). Bernanke (1983 p2) â€Å"argues that only with the rehabilitation of the financial system in 1933-35 did the economy begin its slow emergence from the Great Depression. † The 2007 Economic recession The economic literature on the current recession is still limited, however adequate amount of literature exist on the impact of the down turn on the U. S. economy. The Economic Report of the President Jan, 2009 gives a comprehensive coverage of how the recession started; where it started and what is to be done. A large amount of literature can also be found on the causes of the crisis. among others. In terms of impact, the reports from the Bureau of Economic Analysis (BEA) indicates that from Dec 2007 to May 2009, America has had 57 bank failures; the unemployment rate has increased to 8. 9%; the economy has declined by – 3. 3% from the second quarter 2008 – first quarter of 2009; from Sept 2008 to may 2009, the federal government has increased the money stock by 125% and over the same period the biggest fall in the Dow Jones industrial stands at -53. 8%. The outlook is equally dire; most analysts have predicted a recession that may last up to two years (Roubini, 2009) Moody’s Investors Services (MIS), while further job losses are also expected have predicted increased foreclosures, while further job losses are also expected. But the impact has not been limited to America. The International Monetary Funds (IMF) World Economic Outlook published in Jan 2009 painted a bleak picture of the world economy in general: They predict that the real global growth will be close to zero; in the same report, growth in advanced world economies was projected at -2%. In his report, presented to the V Symposium on International Trade (Feb 20, 2009) Cline reported that the economic crisis in America has triggered a highly synchronized global recession, which has seen a contraction in all economies (see the Graph below showing global growth over 3 decades (Cline, 2009). Figure, 3 Showing the Synchronization of Global Recession Taken together, commentators are unanimous that, in term of severity, this recession is still mild vis-a-vis The Great Depression. Shiller (2009) writes that a lot of the upheavals in the economy have not been seen since the Great Depression. He cites the stock market volatility, the bank failures, the housing bust, the breakdown in intermediation, and the near zero interest rate. Besides the statistical comparisons, the current debate and research effort is focused on how the how the crisis started. The proximate consensus is that: the mortgage security backed housing boom in America it to blame and that the origination and distributions of this paper assets is at the heart of the problem (Markus; 2008; Grotty, 2009; Bernanke, 2009; Gapper, 2009) at the same time, researchers maintain that the crisis in the banking sector, was not independent, but resulted from distortions and incentives created by past policy actions. Blundell-Wignall, etal (2009), in there paper presented at a Reserve bank of Australia conference, averred that the current financial crisis is caused by global macro policies affecting liquidity and by very poor regulatory frame work. More specifically, economists recognize that any theory of causality, must, among other things, explain how the housing boom started, describe the factors behind the explosion of the residential mortgage backed securities (RMBS), how the banking crisis was triggered and the policy distortions that made it possible (Tett, 2007; Rajan 2009; Grotty, 2009). The findings of a number of researchers who have studied the causes of the current financial crisis in America conclude that the policy distortions started with gradual undermining of the Glass Steagall Act, from the 1980s; and the rise of the neo-classical theory of free markets (which advocates markets deregulation) Shiller (2005, p 43) argues that business cycles in the financial markets would not have been a major problem had banks been kept off the asset markets. The same argument is advanced by Summers (2008) who asserts that the deregulations in the banking sector exposed the banks to the bubbles and bursts of asset markets. Wray (2009) traces the poor regulatory framework in the U. S to the New Financial Architecture (NFA) which he claims is represented by a globally networked system of giant bank conglomerates and shadow banking system of investment bank, hedge funds and bank created special investment vehicles (SIV). In short, most scholars agree that the Riegle-Neal interstate banking and Branching efficiency Act of 1994 and the repeal of Glass Steagall Act in 1999 through the Gramm-Leach-Bliley Financial Act played a crucial role in laying the foundation which led to this crisis (Mishkin, 2009, p 268; Grotty, 2009). Atkinson, Wigall, and Lee (2009) have also concluded that the Basel II accord on international bank regulation also opened an arbitrage opportunity for banks which led to the acceleration of off-balance-sheet activities. In the same paper, they claim that SEC 2004 decision to allow investment banks to manage there own risk was a major policy blunder. Soros puts it this way. â€Å"Since 1980, regulations have been progressively relaxed until they have practically disappeared. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦authorities could no longer calculate their risks and started relying on the risk management methods of the banks themselves (Soros 2008)† At the same time, scholars have concluded that the other root cause of the problem is traceable to the easy availability of credit. Diamond, etal (2009, p 615) argue that the policies affecting liquidity availed a lot of funds to the banks. The 1% federal interest rate, the % interest rate in Japan, the fixed exchange rate in china and large reserves of sovereign wealth funds are listed in his paper as sources of cheap credit which fueled the economic boom in America led to an inflation of prices around the world. The claims that interest rates were low are supported by statistics which indicates that real short term interest rates were negative from mid 2001 to mid 2005, given the modest values of inflation (Yellen, 2008) The low interest rates, in turn, ignited a housing boom. Fig, 3 shows the Case-Shiller house index from 2000-2008. According to Grauwe (2009), the doubling of US house prices from 2000-2006 was not underpinned by real changes in the U. S economy. In the same survey, he reports that between July 2006 and July 2007 the value of Dow Jones and the SP 500 rose by 30% while GDP increased only by 5%. Taken together, researchers have concluded that the collapse of the real estate market in 2006 was the origin of the crisis. The rising foreclosures turned the credit boom into a bust. however, economist have at the same time stated that the severity of the housing market bust has been compound by the weakness inherent in the financial system (Calomiris, 2008; Rajan; 2009; Bookstabber, 2007) namely; use of bank deposits for speculative activities- this operation was made possible though special investment vehicles (SIV) sometimes called shadow banking; new financial innovations – derivative products like Credit Defaults Swaps (CDS) and Collateral Dept Obligations (CDO): they have been described as complex and overly opaque; failure of rating agencies to properly calculate the risks embedded in this instrument; and failures by regulators and supervisors. Some have added that the formulas used to compute the level of risk in this instrument was questionable and that the development of riskier higher order CDOs tended to magnify the systemic risk (Volcker, 2008; Veneroso, 2007; Soros, 2007; Rajan 2009 b). Sorros (2008) argues that the new types of mortgage-backed securities central to the boom were too complex and opaque to be priced correctly. Grotty (2009 p 40) also argues that these instruments encouraged fraud since most investors did not even know what they were buying. That when the risk inherent in these products became apparent in 2007, investors pulled back from structured products in general, banks had to re-absorb the losses incurred by their off balance entities – SIV, straining there balance sheets in the process. Moral hazard problems and adverse selection worsened with time lending to a credit freeze which led to a slow down in economic activities around the world (Mishkin, 2007, Folkman etal, 2007; Dornbusch etal, 2000) Concerning solutions, most policy makers agree that to reverse the recession, there is need for closely coordinated intervention at global level and that efforts must focus simultaneously on fiscal, monetary and financial stability policies. The underlying assumption is that restoring confidence in the prospects for employment and income and returning to balanced growth are the only way out of the recession (Draghi, 2009). Strong expansionary fiscal policies, with measures to support demand and safeguard banking and financial system have been instituted throughout the western world. The $ 800 billion dollar stimulus plans in America has been seen as bold policy initiative, although many economist are worried about its repercussion on the national dept. The proponents of this plan see it as the best way to either create jobs or prevent job losses (Romer, 2009). At the same time, most central banks around the world have rapidly lowered there interest rates. Draghi (2009) argues that in the initial stages of a crisis, rapid disinflation should not be allowed to turn into a deflation. To keep the banks afloat, central banks have injected large quantities of money into the system; in some instances, they have bought corporate dept to keep financial institution afloat. Russell (2009) notes that reactivating financial intermediation is also essential since capital requirements cannot be satisfied by the state alone. To achieve this goal, economists agree on three basics steps. The need to guarantee liabilities to stop bank runs; taking the banks through a stress test to identify the banks with solvency problems and ring-fencing the problematic securities or transferring them to separate entities such as bad banks followed by recapitalization (Wheelock, 2009; White, 2009, Draghi, 2009) are possible ways of unfreezing bank lending. At the same time, economists agree that a solution to the housing crisis is necessary. Lastly economists have pointed out that there is a need to reform securitization, credit rating agencies, poor risk modeling and underwriting standards, as well as corporate governance lapses (Krugnall etal, 2008). Some economist has also concluded that massive failure in corporate governance in some companies reflects poor incentive structures for decision, thus bank reforms should be extended to corporate remuneration practices (White, 2009; Blinder, 2008, Crotty, 2009) Reference Bekaert, G, Harvey, C. R. , 2005, â€Å"Market Integration and Contagion,† Journal of Business, Vol. 78, (No. 1), pp. 39–96. Bernanke, B. S. , 1983. Nonmonetary effects of the financial crisis in the propagation of the great depression. American Economic Review 73, 257–276. Bernanke, Ben (2002). On Milton Friedmans Ninetieth Birthday, at the Conference to Honor Milton Friedman, University of Chicago, Chicago, Illinois, November 8. www. federalreserve. gov. (accessed on May, 10, 2009) Blinder, Alan, 2008. What Created This Monster? , New York Times, 23. Bookstabber, R. , 2007. The next financial crisis starts here, Financial Times, August 23. Calomiris, W. C. , Mason, J. R. , 2003. Fundamentals, panics, and bank distress during the depression. American Economic Review 93 (5), 1615–1646. Calomiris, C. W. , Financial Factors in the Great Depression. The Journal of Economics Perspectives, Vol 7 (2) pp 61-85.

Thucydides and international relations

Thucydides and international relations Thucydides is seen by some scholars as the first writer in the realist tradition as well as the founding father of International Relations.[1] There are contrasting interpretations of the History of the Peloponnesian War as Thucydides rarely gives his opinion about the events described and the characters actions. This essay will adopt the realist interpretation of Thucydides and argue that he is still relevant today due to the prevalence of fear, self interest and power politics in todays world. It will use competing interpretations of his work to show that, even though there are important differences between his world and todays world, his insights into human nature are relevant and are one of the best sources to learn from history.[2] Thucydides work is valuable as it investigates the causes and dynamics of war. He states: What made war inevitable was the growth of Athenian power and the fear which this caused in Sparta. [3] According to Lebow, power transition theories are based on the premise that hegemons are unwilling to relinquish their status to upcoming powers.[4] Power transition theories investigate how a shift in an actors power in the system affects other actors. Theorists stress the critical importance of changes in the relative power of states as these changes produce fear and result in the security dilemma. Thus the system becomes increasingly unstable and small events can precipitate a major conflict. [5] Sparta was afraid that a shift in the balance of power would be to the detriment of its national security and thus according to power transition theory it felt aggression was necessary to address the imbalance. A theme that dominates Thucydides narrative is how fear in conjunction with honour and i nterest result in a state taking action in the hope of safeguarding its national security and independence.[6] The Peloponnesian war was the product of two developments. The first was the uneven and unprecedented growth of Athens. The issuance of the Megarian Decree was another provocative action. Athens believed that the integrity of their empire was at stake due to their fear of a revolt of their colonies. Athenss use of economic sanctions aimed to dislodge Megara from its alliance with Sparta posing a direct threat to Spartan and Corinthian security.[7] The Corinthians warned their Spartan allies that unless they asserted themselves against the Athenians, they (the Corinthians) would form a new alliance thus harming Spartan security. Thus Sparta delivered the ultimatum calling for the revocation of the Megarian decree. Rejection of the ultimatum was the immediate cause of the war. Thus the security dilemma can be said to have drove the hegemons into a war that neither desired.[8] A modern example of this theory is the change in American perception of Soviet power after the first Soviet ICBM launch. The so called missile gap resulted in US insecurity as the Kennedy administration believed Khruschchev was behaving aggressively in Berlin because he felt the power balance was shifting in his favour. Concern to maintain US power led Kennedy to increase the US strategic buildup.[9] However Kauppi states that there are intervening variables preventing the shifting balance of power leading to war in the cold war world. He cites modern examples of the restraining effect of nuclear weapons, and the existence of neutrals as having a stabilizing influence by not entrapping the superpowers in a zero sum game. He also cites the role of ideology as convincing both superpowers that they could win without war. [10] Thus while power transition theory and the resultant fear explain the pressure imposed on states, other factors can prevent fear from resulting in war. Lebow con tests the basis of power transition theory by pointing out that Athens reached the zenith of its power 20 years before the outbreak of war, he adds that it is the perception of power that is vital to power transition theory and war. The effect of middle powers like Corinth is another factor to consider. [11] While there was no direct conflict between the superpowers in the cold war, the massive defence budgets and development of weapons of mass destruction shows that both superpowers were using fear to deter their enemy and acting on fear by arming themselves. Another central feature of Thucydides thought is that of self interest. According to Gilpin, Thucydides believed that human nature was unchanging and since human beings were driven by interest, pride and fear, they always seek to increase their wealth until others driven by like passions, try to stop them.[12] In the Melian dialogue the Athenians say: Our opinion of the gods and our knowledge of men lead us to conclude that it is a general and necessary law of nature to rule wherever one can. [13] The Athenians state that maintaining their empire is their only concern and they try to convince the Melians that it is in their interest to surrender. They ask the Melians to ignore the matter of justice and claim that it is not in Spartas interest to intervene on their behalf.[14] The Melian dialogue shows the primacy of self interest not only as a practical course of action but as a law of nature. A modern example of self interest is the statist concept the national interest- seen in th e Mytilenian debate. Even though Cleon and Diodotus have different thoughts of the way forward they both seek to deal with the situation to Athenss benefit. For Diodotus, considerations of justice are inapplicable to interstate relations. [15] A modern example of the national interest at work is the October, 2006 United States doctrine on space. The United States will preserve its rights, capabilities, and freedom of action in space and deny, if necessary, adversaries the use of space capabilities hostile to US national interests. [16] In todays world while the national interest is seen as a guiding principle it need not always be action by a sole state. States may cooperate to ensure the common good. In an increasingly globalised world states must consider and temper their exercise of national interest. The development of international law, particularly humanitarian law, shows that there are norms of non intervention and human rights that states are obliged to follow. Condemnation from the international community in case of their violation would not be in a states national interest. Thus while the national interest is a key component of state decision making, today, the experience of two world wars and the prevalence of liberal ideas mean that the national interest is still important but not the sole reason for state behaviour. Self interest and fear result in power politics. The Athenians say ones ability to engage in power politics depends on strength. The standard of justice, depends on the equality of power to compel and that, in fact, the strong do what they have the power to do and the weak accept what they have to accept.[17] Thus ones ability to enforce ones demands depends on relative power. The quote above from the Melian dialogue shows Athens warning Melos to submit as they are too weak to resist. Since there is anarchy in relations among states, the order that exists is created and sustained by the powerful that impose their power within their sphere of influence. States, like individuals, are motivated by fear and self interest and appeal to justice only when their interest is served. The natural right of the stronger to rule over the weaker is a rather simplistic explanation and justification of imperialism. [18] A modern example of this is the ultimatum given by the US warning countries that they were either with us or against us. This can be seen as a threat to compel unity in the war on terror. Thucydides adds that an actors power determines his treatment thus showing the essential nature of the balance of power in international relations. This is the safe rule to stand up to ones equals, to behave with deference towards ones superiors and to treat ones inferiors with moderation. [19] A quote from US Secretary of State Condoleezza Rice about nations that didnt support the war on Iraq illustrates this: Punish France, ignore Germany and forgive Russia.[20] For Thucydides it is a law of nature that the weak become subject to the strong and when the opportunity of aggrandisement is offered by superior strength considerations of right and wrong are sacrificed to self interest. [21] Welch adds that while Thucydides does not deny the notion of universal justice; he simply acknowledges that for better or worse it has no constraining force in a system composed of states unequ al in power.[22] However Bagby argues that not all states choose to maximise power. He cites the example of Sparta and how the Corinthians call them timid and weak in contrast to Athens. King Archidamus of Sparta confirms these national differences when he asks fellow Spartans to be not ashamed of the slowness and dilatoriness for which they censure us most.[23] According to Doyle, the political ideologies of both Athens and Sparta, and the different sectors of society they appealed to, were an important component of their conflict. He picks up on Thucydides emphasis on the national character of Athens, both in its restless culture and its democratic institutions, as well as the character of Sparta, with its slow and cautious character and the conservation of its oligarchic institutions.[24] Thus the goal to maximize power can be seen as a powerful motivator but domestic influences and domestic character are also important. In conclusion, Thucydides was among the first to set out three basic assumption of classical political realism: states are the key units of action, they seek power either as an end in itself or as a means to other ends and they behave in ways that are by and large rational. [25] While Thucydides has been interpreted in various ways, his ideas about human nature fear, self interest and power maximisation are enduring. They explain the pressures acting on states in todays world pushing them to make decisions. While there are many differences between today and his time, Thucydides effectively explains the psychological and social tendencies in strategy and is thus still relevant today. Bibliography International Relations in Political Thought: texts from the ancient Greeks to the First World War, Brown, C, Nardin, T and Rengger N, Cambridge, Cambridge University Press, 2002. The Use and Abuse of Thucydides, Bagby, L, International Organization, 48, 1, Winter. Political Theories of International Relations, Boucher, D, Oxford, Oxford University Press. Ways of War and Peace, Doyle, M, New York, Norton, 1997. Hegemonic Rivalry, R N Lebow, B Strauss (eds), Boulder, CO: Westview Press, 1991. Why International Relations theorists should stop reading Thucydides, Welch, D, Review of International Studies, 29, 3, 2003. www.commondreams.org/headlines03/0525-09.htm http://news.bbc.co.uk/2/hi/americas/6063926.stm Paul Viotti and Mark Kauppi as cited in Bagby, L, The Use and Abuse of Thucydides, International Organization, 48, 1, Winter, Page 131 Lebow, R, Hegemonic Rivalry, R N Lebow, B Strauss (eds), Boulder, CO: Westview Press, 1991, Page 1 Brown, C, Nardin, T and Rengger N, International Relations in Political Thought: texts from the ancient Greeks to the First World War, Cambridge, Cambridge University Press, 2002, Page 36 Lebow, R, Hegemonic Rivalry, R N Lebow, B Strauss (eds), Boulder, CO: Westview Press, 1991, Page 135 Welch, D, Why International Relations theorists should stop reading Thucydides, Review of International Studies, 29, 3, 2003, page 301 Kauppi, M, Hegemonic Rivalry, R N Lebow, B Strauss (eds), Boulder, CO: Westview Press, 1991, Page 103-104 Gilpin, R, Hegemonic Rivalry, R N Lebow, B Strauss (eds), Boulder, CO: Westview Press, 1991, Page 34-35 Lebow, R, Hegemonic Rivalry, R N Lebow, B Strauss (eds), Boulder, CO: Westview Press, 1991, Page 127 Lebow, R, Hegemonic Rivalry, R N Lebow, B Strauss (eds), Boulder, CO: Westview Press, 1991, Page 142 Gilpin, R, Hegemonic Rivalry, R N Lebow, B Strauss (eds), Boulder, CO: Westview Press, 1991, Page 47-48 Lebow, R, Hegemonic Rivalry, R N Lebow, B Strauss (eds), Boulder, CO: Westview Press, 1991, Page 128 As cited by Welch, Welch, D, Why International Relations theorists should stop reading Thucydides, Review of International Studies, 29, 3, 2003, Page 304 Brown, C, Nardin, T and Rengger N, International Relations in Political Thought: texts from the ancient Greeks to the First World War, Cambridge, Cambridge University Press, 2002, Page 57 Ibid Welch, D, Why International Relations theorists should stop reading Thucydides, Review of International Studies, 29, 3, 2003, Page 76 http://news.bbc.co.uk/2/hi/americas/6063926.stm Brown, C, Nardin, T and Rengger N, International Relations in Political Thought: texts from the ancient Greeks to the First World War, Cambridge, Cambridge University Press, 2002, Page 52 Welch, D, Why International Relations theorists should stop reading Thucydides, Review of International Studies, 29, 3, 2003, Page 75 Brown, C, Nardin, T and Rengger N, International Relations in Political Thought: texts from the ancient Greeks to the First World War, Cambridge, Cambridge University Press, 2002, Page 58 www.commondreams.org/headlines03/0525-09.htm Welch, D, Why International Relations theorists should stop reading Thucydides, Review of International Studies, 29, 3, 2003, Page 75 Ibid Bagby, L, The Use and Abuse of Thucydides, International Organization, 48, 1, Winter, Page 138 Doyle, M, Ways of War and Peace, New York, Norton, 1997, Page 150-152 Keohane as cited in Bagby, L, The Use and Abuse of Thucydides, International Organization, 48, 1, Winter, Page 132

Strategic Human Resource Management: British Petroleum

Strategic Human Resource Management: British Petroleum William DArcy of Anglo-Persia Oil Company is the founding member of BP, in the year 1901. However, BPs first retail gas station first ever opened in Britain in 1921. Through the years it has grown massively due to its brand reputation worldwide. It has since become a very powerful Oil company and enjoys a fair market share. Upon merging with Amoco- a USA Oil Company, in 1998, BP then rebranded its retail gas stations and convenient stores. BPs is into the extraction and refining of oil and natural gas. Their retail ventures are under subsidiaries of Arco and BP filling stations. Since the turn of the millennium, BP took into investing into research and development, focussing on alternative energy sources like bio fuels and so far it seems to be leading in this regard. In 2009, BP was reported to be worth over $238 billion in assets with equity of $101.6 billion. With the ever increasing oil prices, their profits were reported to be nearly $21 billion in revenues of $291 billion. Today they have since gone beyond the above quoted amounts of 2007. They employ over 96, 000 people worldwide. MISSION, VISION AND VALUE STATEMENT BP has a slogan statement that has not officially been says What we stand for BP wants to be recognised as a great company that is competitively successful and a force for progress. We have a fundamental belief that we can make a difference in the world. We help the world meet its growing need for heat, light and mobility. We strive to do that by producing energy that is affordable, secure and doesnt damage the environment. PRODUCTS BP products include; Bio fuels, Gas and petrol stations, Motor oil and lubricants Route and journey planner, Gas and petrol station locator Target neutral a non profit carbon offsetting initiative Liquefied petroleum Gas Solar energy Business investments include; Air BP, Arco Aluminium, Aromatics Acetyls, Asphalt and bitumen, BP Crudes, Franchising, Shipping Gas and fuel cards, gas and power energy, Natural Gas Liquids, Solar power Industrial lubricants, Invoice tracking systems, Marine fuels and lubricants Organisational Structure This is the line of command in an organisation. It is a hierarchal structure that shows the composition and relation between the different departments within the organisation, showing clearly the channel of command, which may either, be a tall or flat kind of structure. BPs organisational structure Board of Directors Robert Dudley Iain Conn Byron Grote Executive Management Mike Daly Sally T. Bott Rupert Bondy Mark Bly Lamar Mckay Bob Fryar Bernard Looney Andy Hopwood Steve Westwell BPs Executive Management (bp.com) includes; Robert Dudley Group Chief Executive He became Group Chief Executive from 1st October 2010, taking over from Tony Haywood. Dr Byron Grote Chief Financial Officer Is a member of BP board of directors and a member of the executive management team. His responsibilities include, accounting for BPs integrated supply and trading activities. Iain Conn Chief Executive Refining and Marketing He is the chief executive of the BP Groups refining and marketing business and also holds regional responsibilities for Europe, Southern Africa and Asia Pacific. He is a member of the board of directors and a member of the BP executive management team Mark Bly Executive Vice President Safety and Operational Risk His responsibilities includes strengthening safety operations, Risk Management and the systematic management of operations across BP corporate group Rupert Bondy Group General Counsel He is responsible for legal function, trademark, patents and licensing and compliance Sally T. Bott Executive Vice President Human Resource She has held the post since her appointment, in 2005. Bob Fryar Executive Vice President EP Production His responsibilities are for the Safe and Compliant Exploration and Production and Stewardship of resources across all regions Mike Daly Executive Vice President Exploration He is accountable for the leadership of BPs access, exploration and resource appraisal activities and the long term replacement of BPs resource base. Andy Hopwood Executive Vice President, EP- Strategy and Integration Has worked in various positions in which he has been successful. He is also a member of the executive team Bernard Looney Executive vice President -Development Is responsible for Drilling and completions and project activity in the upstream Lamar Mckay President BP America. He is the chief BPs representative in the United States. Based in Houston Texas, where BP business units are involved in oil and natural gas exploration and production, refining chemicals, shipping and alternative energy Steve Westwell Executive Vice President Strategy and Integration He is accountable for BPs alternative energy businesses and manages all of BPs corporate activities in strategy and policy, internal communication media, press, investor relations, economics and long term research and technology. 4.2 ANALYSE THE IMPACT OF BPS CULTURE ON THE MANAGEMENT OF HUMAN RESOURCES. Organisational culture is the collection of relatively uniform and enduring values, beliefs, customs, traditions and practices that are shared by an organisations members, learned by new recruits and transmitted from one generation of employees to the next. (Buchanan Huczynski 2004). It has been very successful in line with its brand name and corporate reputation. Its culture reflected in their statement slogan as below BP is progressive, responsible, innovative and performance driven. They have further defined this statement as: Progressive They are restless in the research and development and improvement in exploration and refinery of oil, gas and fuels. They believe they have the principle of mutual advantage and can build productive relationships between themselves, their clients and partners. Responsible It is committed to the safety and development of its people and the communities in the societies in which they operate. They aim for no accidents, no harm to people and protecting the natural environment. Innovate we push boundaries today and create tomorrows breakthroughs through our people and technology Performance Driven BP is committed to deliver on their promises through continuous improvement and safe, reliable operations, by learning from their mistakes BP has over the years, has maintained a culture that, as exhibited in its code of conducts and their governance procedures in place. One characteristic business strategy that BP has continued to use in its system is that of Mergers. Over the years, BP has merged with other oil companies in most parts of the world and this had lead to the organisations diverse corporate culture. Generally BP has a large market share and has always had the potential to grow- thanks to other strategies, such as Acquisitions, Franchising and licensing .The BP brand is so strong and successful world over and enjoyed a good reputation. Unfortunately, the fatal accidents at the refineries (2005) and the latest oil spill off the Gulf of Mexico in April 2010 are not helping the current situation that the organisation is in. It has presumed that BPs outmost interest is profit marginalising than the welfare of employees and the general environment within which the firm operates. Trends of its culture in the nex t few months to come are expected to have been improved, if not changed completely, in relation to how the organisation operates. BP is primarily made up of two segments: Exploring and Production and the Refining and Marketing, along with other business units including alternative energy. BP prides its human resource capital and refers to them as our people. The organisations Human resource management aims to get the right people in the right jobs, accessing different specialist skills and promoting excellent performance. They carry out a focussed recruitment procedures, they analyse performances and reward accordingly and invest in training and development. The human resources department is made up top level executives and these make up what is known as People Committee, which takes the overall responsibilities for policy and decision relating to the employees. BP being a multinational corporation, and having employees from different countries, altogether, ensures that has one of the most biggest BPs human resources are highly skilled and efficient. The organisations Human Resource professional act as business partners, some delivery strategic guidance, while others support the day-to-day needs of managers and employees. In supporting its employees, BP invests in systems, data and core processes like governance, policy and compliance, so as to enable its human resource to respond quickly and effectively to the fast changing energy industry. 4.3 EXAMINE THE EFFECTIVENESS OF HUMAN RESOURCES MANAGEMENT IS MONITORED IN THE ORGANISATION BPs Human Resource management is one of the tops around the world. Its activities have also been admired and BP used to be one of the top priorities for employment in the energy sectors. Human Resources Systems This is the systems that BP has set in place in terms of its human resource management. It involves; Recruitment BP is committed to a culture of diversity, this helps them attract, develop and retain outstanding talent- regardless of background, age, religion, ethnic origin, nationality, disability, sex orientation, gender or marital status (BP code of conduct document) (BP sustainability review 2009) BP was named as the best energy company to launch a career in, based on factors like pay, rapid advancement and training programmes. (Business Week 2009) The organisation has schemes like the student and graduate employment facility which offers interested students and graduates intern opportunities. BP recruits graduates from a wide range of technical disciplines. In 2009, BP employed about 6500 out of which 470 were graduates. As BP is ever expanding, it requires qualified and skilful workers for its various projects around the world. Reward Systems BP has redesigned its reward strategies and processes, in such a way that, they can identify and reward top-performing businesses and individuals. In addition to pay, employees are rewarded according to how well they perform against specific objectives that must be clearly linked to the goals of the team as a whole. BP ensures to have benefit packages that are fair, attractive and sustainable for the long term for its employees. It states on their website, that as of 2010, they introduced a new flexible benefits plan in the UK, which includes private medical insurance and health screening, as well as a cash allowance for new hires to purchase benefits and defined contribution pension plans for those employees no longer eligible for the defined benefit plan Executive Reward packages Remuneration for executives is in cash and equity. This policy has been established by the remuneration committee of the board, whereas the policy for all other employees is by the group people committee. According to BP, their reward packages, strike the appropriate balance between rewarding individual performance and reflecting group performance. Performance Management BP does recognise that its high organisational growth and market share is due to the employees great performances (both individually and as a team). It strives for a performance -driven culture, with a clear alignment between team performance, individual performance and bonuses that are received. BPs performance approach entails that each BP business plan is designed to accomplish elements of the groups overall strategies. Objectives and milestones for each individual are set in accordance with the team plan. There is a direct link between the goals set by BP board and that or other BP key businesses, and the performance contracts of their executive leadership. Standard approach is that, the executives performance is evaluated against their performance contract. BP carries out an internal and external evaluation processes in developing plans for these group leaders Managers, peers and team members review leaders performance, using a 360ÂÂ ° feedback tool, to identify their top three relative strengths and weaknesses. It runs Career Acceleration programme which supports rapid development of employees who have the highest potential and are expected to achieve For Managers, it runs a series of development programmes called Managing Essentials. This is aimed to assists line managers in attaining leadership skills. They encourage leaders to develop, as they expect the leaders or managers to not only exhibit valuable expertise, but also to influence and motivate employees and be able to act decisively and deliver high quality results. RECOMMENDATION OF THE EFFECTIVENESS OF HUMAN RESOURCE MANAGEMENT IN BP Having researched and discussed the Human Resource Management in BP, I hereby recommend the effectiveness of the Human Resource Management. Their current systems in comparison to most local jobs (companies) are indeed second to none. Some of the highlighting points I base my recommendation on, includes the following working conditions: BP recognises the needs of individuals and has set out innovative working practices that encourage employees to enjoy a happy and productive work and life balance at every stage of their career. Flexible working BPs Information Technology infrastructure helps support flexible working and there are a variety of flexible working arrangements e.g. part time, and depending on employees role, they have home-based working or teleconferencing in some circumstances replaces the need to travel. Time to live As a global business, there are occasions when people have to work very hard an unsociable hours. If this is the case, BP may consider whether to provide extra time off and or additional benefits. Family time BP supports family friendly policies, such as career breaks and adoption leave, aimed at allowing people to contribute to their families without compromising their professional development aspirations Global Diversity and inclusion Council in the lead, is the Group Chief Executive. He ensures that the managers have the support they need to promote diversity and inclusion at every level of BP. It includes other senior managers and together they share their focus on making diversity and inclusion priority. Global Affinity Groups These are local affinity groups, employee-led teams of individuals who share interests or backgrounds. These groups offer support, information and the opportunity to help the business reach its diversity and inclusion goals. BPs Human Resource Management aims to attract and retain the best people, by offering opportunities to employees to learn and develop both informal training and mentoring. Teams set out to support individuals through their progress, by assisting new employees discover their talents and abilities. BP has a focused performance management system is one of the best in the world When employed, BP will align the individual objectives with the goals of the area of specialisation, upon which will be measured to ascertain the effectiveness of the individuals performance against the objectives and contributions to those goals. Norman Rockwell: Artist Biography Norman Rockwell: Artist Biography Norman Rockwell was born in 1894. Rockwell enjoyed drawing at an early age and soon decided he wanted to be an artist. At age 15 he left high school and enrolled in two art schools simultaneously. His mornings were spent at the National Academy of Design, and his afternoons, spent at the Art Students League. He is perhaps best remembered for his countless Saturday Evening Post illustrations and artistic contributions to the advertising industry. His early covers made Rockwell a star, and his paintings appeared in magazines and advertisements for the next half-century. Rockwell never considered himself an artist, but rather a commercial illustrator. After all, Rockwell never painted freehand, and almost all of his paintings were commissioned by magazines and advertising companies. No matter how many contributions Rockwell made to the commercial arts over his career, they all had something in common. He understood the importance the drawing process had in order to achieve effective ill ustrations for his advertisements and magazine covers. In the beginning of his career Rockwell worked from real life. He used models drawing directly onto his canvas. It has never been natural for me to deviate from the facts of anything before me, he says, so I have always dressed the models and posed them precisely as I have wanted them in my picture; then I painted the thing before me. If a model has worn a red sweater, I painted it red I couldnt possibly have made it green. I have tried again and again to take such liberties, but with little success. To keep up with the demand for a quicker turnaround for finished art, Rockwell began to use photos as a reference for his drawings. For twenty-three years I did all of my drawing and painting without any help from the camera. Even today I often work without photographs, yet I have found that if they are properly utilized they can sometimes prove an invaluable aid. I feel very strongly, however, that no one should resort to photographs until he has learned to draw and paint extremely well without them.In Guptills book Norman Rockwell Illustrator a description of Rockwells technique is given in extensive detail. The first step was to get an idea. Without a good idea right at the start, only failure can result, Rockwell said. Once he had an idea, his procedure was to make small scale thumbnails with pencil. When the idea was approved, the models were selected. He commonly used friends and neighbors and his models. He always insisted on getting the perfect model even if it entailed a len gthy search. Rockwell then acquired the necessary props and would hire a photographer to shoot the scenes, while he directed the models. With his okayed preliminary pencil sketch and his selected photographs, Norman then did a small sized study in pencil. This was done to organize his materials and his thoughts about layout and composition. Next, he made a full size detailed charcoal drawing on architects detailpaper. This was made to the exact size which he intended his final painting to be which varied according to the subject matter it was used for.Now the photographer was called again to reshoot the desired layout. Rockwell then painted from the photographs and did several color studies which allowed him to make tweaks to the tone, form or color. Rockwell then made a transfer from his full size charcoal layout on to his prepared canvas. First, he would trace this ona sheet of architects tracing paper, which he would then attach to his blank canvas. Between the tracing paper and the canvas he would place transfer paper and traced it onto the canvas. After all this meticulous prepping he was now ready to paint. Eventually, Rockwell altered his sketching process by using an opaque projector called a balopticon, which allowed him to cast photographic images onto his drawing surface, and lightly trace them. Rockwell said, When using the balopticon in this way, I do not simply copy everything which is projected from the photograph. Instead, I make many, many changes, large and small, in order to make the drawing like the image in my mind of what I want to portray. I cannot emphasize this point too much. The real danger in using the balopticon is that you will develop the lazy tendency to follow the image exactly instead of following the creative idea or image within yourself.Painting from photographs canbe a wholly creative performance if the artist himself is creative. To copy the form, tone and color of a photographic print certainly is not creative. But one can be creative by modifying drawing, values and other aspects of the photo to realize the creative needs of the subject. The camera is no substitute for those creative faculties of mind and hand which have always produced art and always will. The artist who cant draw or paint will never getanywhere trying to work from photographs. Probably the most important stage in Norman Rockwells technique was the drawing stage. In this stage, subjects were drawn in great detail, going so far as to indicate differences in light and shade by filling in areas with varying values of grey. If you look closely at a Norman Rockwell painting, much of his pencil lines can be seen lurking below the paint. I take the making of the charcoal layouts very seriously, Rockwell once remarked. Too many novices. I believe, wait until they are on the canvas before trying to solve many of their problems. It is much better to wrestle with them ahead through studies. Knowing that the success of his covers and advertisements depended on the strength of his ideas, Rockwell struggled to develop engaging picture themes. With the emphasis on preliminary drawings this allowed Rockwell to produce strong illustrations for his commissions. His successes in commercial art and the advertising industry are a result of those drawing phases. With his art on cover of the Saturday Evening Post, Norman Rockwell became an American icon. Although hesitant about approaching the Saturday Evening Post, he had dreamed for years of having his illustrations on the cover. Rockwell put aside his fears and in 1916 took two paintings and three sketches to Phildelphia and Mr. Lorimers office. Mr. Lorimer liked the two paintings and approved the three sketches for future covers for the Saturday Evening Post. The first Norman Rockwell Saturday Evening Post cover was published May 20, 1916. Entitled Boy with Baby Carriage (See fig. 1), it shows 2 boys in baseball uniforms making fun of another boy dressed in his Sunday suit pushing a baby carriage. One of Norman Rockwells favorite models, Billy Paine, posed for all three boys. On June 3, 1916, the second Saturday Evening Post Norman Rockwell cover was published. His second effort featured a kids circus with one kid in long underwear being the strong man. Another kid in a top hat was the ci rcus barker, extolling the other kids in the painting to see the show (See fig 2). This was the second of the two finished paintings Rockwell originally showed to Mr Lorimer. All in all, more than 300 Norman Rockwell Saturday Evening Post covers were published. Norman Rockwells painting of a colonial tavern sign painter in the February 1936 issue of The Saturday Evening Post had caught the eye of Princeton architect Thomas Stapleton, who decided to commission Rockwell to do a mural for the reconstructed 1756 Nassau Tavern located in Princeton. Rockwell enjoyed doing colonial subjects and because Princeton was the site of a major Revolutionary War battle, a painting of Yankee Doodle seemed appropriate. Yankee Doodle was placed behind the bar to be enjoyed by all the male guests (See Fig. 3). Rockwell researched and had new costumes made for his models. He engaged his friend, Fred Hildebrandt, a professional model and illustrator, who had posed as the colonial sign painter, to pose as Yankee Doodle. This painting underwent several phases in preparation for the oil painting. First, a drawing was done from the model, with very little changes being done (see fig 4). Second, a drawing was done from the first drawing. In this version the drawing was pushed further. Here he makes the body thinner, the arms and legs are elongated, and the shape of his nose is changed. The clothing also adds to the character and his action. The vest now creates a more interesting silhouette, while the smaller scarf helps thin the shape of his upper body. The negative space between him and the saddle, as well as the disheveled hat, flowing hair and coat, convey a bouncing ride (see fig. 5). Third, the drawing is transferred and a color-study is done (See fig. 6). Finally, the finish changes are made. Most are subtle, but there is improved contrast to the coats folds, and changes to the negative space in relation to the elbow. (see fig 7). These process images support Rockwells comments that the ability t o draw is the most import. In the cover illustration for The Saturday Evening Post on April 16, 1955, Art Critic, Rockwell was far from beginning his final painting when he completed this drawing. His photographer recalls that Rockwell considered this one of the most difficult paintings he had done. He spent more time on it than on almost any other Post cover. Using his wife Mary as the model, the face of the woman in the portrait changed no fewer than 17 times. (See fig 8). For each alteration, Rockwell painted a separate oil-on-acetate sketch, which he then could place for consideration within the portraits frame. At some point Rockwell replaced the 17th-century landscape on the opposite wall with a group portrait of Dutch cavaliers. The cavaliers critical observation of the students close examination of the ladys pendant added a new dynamic and further compelled the viewers participation in Rockwells painting. You can also see Rockwells process drawings leading up to his finished Post cover paintings in Fix ing a Flat August 3, 1946 (See Fig. 9) and Weighing In June 28, 1958 (See Fig. 10). Record of his work process is rare and really provides insight in to his technique. On the cover of The Saturday Evening Post, Norman Rockwell earned his reputation as an artist. Inside, however, his work was just as moving. His paintings regularly appeared inadvertisements. Rockwells advertising career started in 1914 with a Heinz ad in the Boy Scout Handbook and ended 64 years later in 1976 with Lancaster Turkeys. Rockwell also did advertising illustration for companies like Jell-O, Willys cars, Grape Nuts and Orange Crush. He is also remembered for his numerous advertisements for such companies as Coca-Cola, Ford Motor Company, and Sun-Maid Raisins. Even in Rockwells advertisement illustrations he continued his technical processes and the use of drawing with models and photographs. When people ask why I sometimes resort to photographs, I tell them what a job it is to get models to take and hold poses like in this Interwoven Socks advertisement. Any time you wish to become a model, try either of these poses for a few minutes, says Norman. (See Fig. 11). In the Fisk Tire advertisement he draws from a live model rather than a photograph to create his painting (see fig. 12). In this case my model was old Pop Fredricks, known to all illustrators. He was a great guy, an old actor. He used to pose twenty-five minutes and then rest. Before the pose we would set the alarm clock, a noisy Big Ben. Waiting for the blasted thing to go off was nerve-racking; after about twenty minutes I would be on edge. Once I had Pop in a sleeping pose and he actually fell asleep, I let him sleep until noon. One of Rockwells advertising campaigns resulted i n 81 black-and-white drawings. The Massachusetts Mutual Life Insurance Co. commissioned him to create scenes reflecting family life for a national advertising campaign. Rockwell reportedly used a hard, grease-free type ofcrayon for the sketches (see fig.13). Massachusetts Mutual chose the black-and-white medium because it represented a contrast to the color advertisements used by most companies in the 1950s and 1960s, and the company hoped it would grab peoples attention. The company ran ads with the drawings in The Saturday Evening Post, Time and Newsweek.