The Progressive Eras influence on the New Deal Essay Example For Students

The Progressive Era?s influence on the New Deal Essay The accomplishments taken place upon the onset of the many New Deal legislations owe much to the seeds implanted and unknowingly disseminated by the pre-WWI Progressive movement. Sparked by the new image as a world power, industrialization, and immigration at the dawn of the new century, a new found reform movement gripped the nation. With the new found image of the nation and world as a whole, the reforms advanced the position of the previously ignored people of the nation, as did its reincarnation and rebirth apparent in the New Deal. Although the first signs of this pristine Progressive movement shone since the mid-1800s, no one had cleared the way for its momentous effect upon the nation in the same degree as Theodore Roosevelt. Although at times hot-tempered and brash, his charismatic attitude pushed forward many of the original progressive legislations. We will write a custom essay on The Progressive Era?s influence on the New Deal specifically for you for only $16.38 $13.9/page Order now For example, his Sherman Anti-Trust Act proposed the life of a trust should be based on its history and actions, since he believed good trusts existed along with bad ones. Next, the Elkins Act proposed railroads and shippers to offer rebates illegal. They also had to have fixed rates, and couldnt change without notice. Also, the Hepburn Act gave ICC the power to set maximum railroad rates. Next, of course because of the impetus for reform provided by the many socialist writers, such as Upton Sinclair, was the landmark Pure Food and Drug Act and the Meat Inspection Act, protecting the health and safety of consumable products and establishing the Food and Drug Administration. He also wished to preserve the untainted countryside, and established the National Forest Service and also strengthened the Forest Bureau. He also passed the Newlands Act which helped to create subsidies for irrigation in 16 western states. The actions taken by Theodore Roosevelt proved to throw the Progressive movement into the mainstream of the nation, showing its true, ingenuous face. When Theodore Roosevelts successor, William Howard Taft, failed to continue Roosevelts ongoing charismatic progressivism, both were bested by the newcomer, Woodrow Wilson. Although not receiving a majority in the vote, he, nonetheless, knew the country still ached for the progressivism it jubilantly basked in for so many years, which he called his ;New Freedom.; Immediately, Wilson went to work on what the countrys sworn enemy, thus his enemy, the triple wall of privilege, consisting of the tariffs, the banks, and the trusts. A true idealist, his crusades against these evils were truly heartfelt and in his mind, the best action to take for the nation. Beginning with the Underwood Tariff of 1913, it was the first lowering of taxes since the Civil War and stood against the protectionist lobbying. Next, he introduced the Federal Trade Act, which set up the Federal Trade Commission to investigate and halt unfair and illegal business practices. Also, the Clayton Anti-Trust Act deemed certain businesses illegal (trusts and horizontal mergers), declared unions legal, and also strikes, boycotts, picketing and the collection of strike benefit funds were ruled legal. The, a landmark legislation, the Federal Reserve Act in 12 districts would print and coin money as well as set interest rates. In this way the Fed, as it was called, could control the money supply and effect the value of currency. The more money in circulation, the lower the value and inflation went up. In effect, the less money in circulation, the greater the value and this would lower inflation. Theodores true successor, Wilson finished Roosevelts job on the trusts and branched out towards the other deleterious aspects of the nation as well. He gave the surging mainstream progressive movement an innocent morality he naturally possessed. While many of the Progressive accomplishments are attributed to these two leaders of the movement, many major events stand alone as Progressive milestones. The long-awaited 19th amendment was finally passed, granting women their right to vote. The role of women in our society was gradually coming into the social world. .ude429f0e65d50146d393bf90fda5cf7a , .ude429f0e65d50146d393bf90fda5cf7a .postImageUrl , .ude429f0e65d50146d393bf90fda5cf7a .centered-text-area { min-height: 80px; position: relative; } .ude429f0e65d50146d393bf90fda5cf7a , .ude429f0e65d50146d393bf90fda5cf7a:hover , .ude429f0e65d50146d393bf90fda5cf7a:visited , .ude429f0e65d50146d393bf90fda5cf7a:active { border:0!important; } .ude429f0e65d50146d393bf90fda5cf7a .clearfix:after { content: ""; display: table; clear: both; } .ude429f0e65d50146d393bf90fda5cf7a { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ude429f0e65d50146d393bf90fda5cf7a:active , .ude429f0e65d50146d393bf90fda5cf7a:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ude429f0e65d50146d393bf90fda5cf7a .centered-text-area { width: 100%; position: relative ; } .ude429f0e65d50146d393bf90fda5cf7a .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ude429f0e65d50146d393bf90fda5cf7a .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ude429f0e65d50146d393bf90fda5cf7a .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ude429f0e65d50146d393bf90fda5cf7a:hover .ctaButton { background-color: #34495E!important; } .ude429f0e65d50146d393bf90fda5cf7a .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ude429f0e65d50146d393bf90fda5cf7a .ude429f0e65d50146d393bf90fda5cf7a-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ude429f0e65d50146d393bf90fda5cf7a:after { content: ""; display: block; clear: both; } READ: Social Darwinism Essay Starters In effect, years later during the Depression, the changing roles of women into heads of families and laborers blew away the stereotypical woman. More independent than ever, independent women pushed to obtain challenging jobs and experiences never fathomed before. Also, as women .

Kick the academic habit †academic writing vs business writing - Emphasis

Kick the academic habit – academic writing vs business writing Kick the academic habit – academic writing vs business writing Most students are familiar with that morning-after feeling. But academic life can leave you with another kind of hangover youll want to shake off before heading off to work: an academic writing style. When your key reader is more likely to be found in a boardroom than a staffroom, you need to change your approach. The focus should be less on displaying every last bit of knowledge and more on the results you want your document to produce. Plus, its pretty likely your new reader wont have the patience of your university lecturer. So save the flowery prose and make sure to leave these three typical habits behind, along with your lava lamp and Pink Floyd poster. Confusing transitions No, not the last few stops on the pub crawl. This is the careless use of linking words such as moreover, however, furthermore and nevertheless. Theres nothing inherently wrong with these words, but using them doesnt automatically make the connection between paragraphs clear, or even guarantee that what you write is connected to what went before. If you imply a link that is unclear or non-existent, youre going to end up with a confused reader or, worse, an ex-reader. Ask yourself if you can make the connection more explicit to help your reader follow your argument. A good way to do this is to bring a phrase or reference from the previous paragraph into the next. For example, if in one paragraph youve been describing the benefits for a certain department of using a particular system, you might follow with something like: However, the benefits for HR have been outweighed by problems elsewhere One too many Hey, were not here to judge what you do after you clock out. But in working hours, try to show a little restraint with how much you try to fit into one sentence, that is. The overeager student starry-eyed with newly acquired knowledge and an excess of Red Bull is often moved to squeeze every last thing they know about a topic into one paragraph, or even one very long sentence. Post-graduation, give your reader (and yourself) an easier time and a better chance of understanding and acting on your information by sticking to one idea per sentence. Be selective with your information, too. The goal is to give your reader the information they need to know, not a brief history of everything that could possibly be related to it. Short paragraphs can be helpful too, as huge blocks of text on a page can be overwhelming or offputting for the reader. But dont break at a random point just to accomplish this: it will be disorientating and disrupt the flow. Make sure that while every sentence contains only one idea, every paragraph contains just one theme. Sesquipedalian* show-offs * (adj.) pertaining to or given to the use of overly long words Your lecturer may have sighed rapturously at displays of a wide and poetic vocabulary, but the reader of your report may be less entranced. In fact, if you send them off to find a dictionary, they may never return. So make sure you swap unnecessarily long words and phrases for simpler alternatives. For example, is it really vital to write in close proximity to rather than near? Not only are shorter versions understood more readily, being more direct will help the connections youre making come across more clearly: a bold because is preferable to a detached due to the fact that. And avoid nominalisations (the use of a verb as a noun), as they attract unnecessary extra words and disguise the action in a sentence. Why say undertake the implementation of when you could simply say implement, or an even more everyday alternative such as put into place? Why, academia, why? And now, class, let us draw to a close with this question: would it be better if students werent encouraged to write in the academic style in the first place? Richard Dixon, a freelance journalist and commentator who was chief revise editor of The Times for nine years, would say a resounding yes. He recalls having to defend the clear, precise language in his PhD thesis to the external examiner: She criticised my thesis as having some paragraphs with only two ideas, as if this were a mortal sin, and being written in a simple (or maybe simplistic) style not usual in academic writing. I told her that those were the early benefits of training as a sub-editor on a properly edited research journal. And, having himself helped recovering academics grope towards a clear journalistic style, he notes: Very few of them have felt they needed to buy a Dixon voodoo doll and stick pins in it in retaliation. Some have even been grateful. Sadly, even with Richards input, we probably cant expect to change the entire university systems writing habits in the immediate future. But if you can take on board a few of these tips, at least we can help you graduate into the world of business writing with flying colours.

Marketing Channel - Reverse logistics Essay Example | Topics and Well Written Essays - 1250 words

Marketing Channel - Reverse logistics - Essay Example implementation and management of proficient, cost effective streaming of raw materials in process catalog, finished products and other information reversing from the consumers point back to the origin. This topic may as well include remanufacturing and renewing. Remanufacturing involves manufacturing of products that the company had manufactured while renewal involves renovation of already manufactured goods. It encompasses the sale of superfluous goods, other paraphernalia and machines that customers return to the manufacturer, and leasing businesses because of different reasons. Talking of logistics, we refer to the events surrounding the movement of goods from the producer to the consumer and reverse takes the goods at least a step or more backwards the supply chain.1 A manufacturer may produce a product which, through a supply chain, moves through the distributor to the consumer. Any other process after the sale of the product is reverse logistics; if the product is substandard of defective, then the customer would certainly return it. This would mean that a manufacturer has to incur shipping expenses to fetch the product, test the product, 2possibly dismantle the product, repair, recycle or even dispose the product. This means that the product reverses the chain of supply network for manufacturers to gain any use from the defective product. This has effects on the market and the overall business enterprise since most retailers consider products that their customers return as personally dislodged deals. The retailers have the main challenge in processing the returns at an expertise level for faster, proficient and money-making collection and return of the product3. The probability of product returns depends on the consumer requirements which end up aiding high service standards including accuracy and timeliness. Retailers can address all the operational and customer base retention issues in regards to merchandise returns through following the best

Computer Software Essay Example | Topics and Well Written Essays - 1000 words

Computer Software - Essay Example The ultimate objective is to get ordinary persons to be able to use the computer for their requirements. The nature of software divides it into three portions - operating systems, languages and applications. The first of these is the operating system which sets down the laws for exchange of information between men and the machine. This is taken by users as being part of the machine and is generally seen by individuals when they first switch on their computers. In many cases, for individuals using a computer at home, this is Windows. Till the system becomes functional and the loading of Windows stops, the user will not be able to start using the machine. Anything that is typed by the operator before Windows is ready for taking instructions will only result in the computer just clogging up and stopping operations. At the same time, Windows is not the only possible operation for a computer, as it may also have "UNIX, Apple Mach, Ban, VMS, RS, OS2, Irix, AIX or HP-UX" among others. (Comp uter Software) However, the operating systems lead to files being written in particular languages, and thus it is difficult for information to be exchanged between computers which have different operating systems. This is very important today in view of the high usage of Internet and sending of mail across the world. That is made simpler as the language for sending information is generally Internet Explorer or Mozilla Firefox. Files in these languages are accepted by all operating systems so that communication is not interrupted. In the same machine also it is possible to have more than one language like having both Windows and Linux, though Windows does not recognize the existence of Linux as it is viewed as a competitor. The next question is of languages used for writing instructions for the operation of the computer. This is the language used by programmers so that the computer itself can translate their instructions to machine language for the operation of the computer. It is important to know that the operations of the computer are carried out in machine language and that is in the simple method of off or on. Off is viewed as zero, and on is viewed as 1. Thus 2 are written in machine language as 10, and three is written as 11, and four as 100. Similarly, there are also codes for the alphabets, and for every character, there are 16 bits or 32 bits being used now. This also results in large sizes for files in computers. One page of typed matter has a size of over 20,000 units of bits. This makes it essential that computers have large storage capacities, presently over 80 gigabytes or 80 trillion bytes. Coming back to the point that we were discussing, some common languages are "C, C++, FORTRAN, COBO L, Pascal, Perl and Java". (Computer Software) Presently, the language popular among programmers is Java, as the instructions in that language can be the shortest. However, the ultimate language for passing on all instructions to the computers is machine language, and

The Economics of Speculative Construction Development Term Paper

The Economics of Speculative Construction Development - Term Paper Example The housing sector in 2010 had recorded sales of 276,000 houses in the urban and semi-urban areas. This figure in last few years has increased to approximately 454,000 (Athey, 2009). Although the housing sector has been earning steady revenues, the required rate of growth has not been satisfactory. Common people are finding it risky to invest in property by acquiring loans due to the consistent rise of interests. Post financial crisis, most of the financial institutions have established stringent policies in respect of providing housing loans. The housing sector of the U.K. however plays a major role in the development of the economy as a whole. Even though the sector has been incurring slow growths, the revenue obtained from the housing and development sector is seen to be persistently high. The demands for houses have remained high as the economy is quite prosperous. Individual in the U.K have a high level of disposable income, due to which they find it feasible to invest in proper ty (Berry and McGreal, 2003). Research and studies in this sector have indicated that the demand for houses is expected to rise steadily. Construction companies are, hence, considering it profitable to develop sites and invest in properties of the U.K (Harrison and Leitch, 2010). In order to boost the housing and development sector, foreign investors are devising different types of schemes. Since population is consistently rising, it is essential for property developers to construct more homes. A recent survey had estimated that it is essential to build at least 150,000 new homes each year so as to be able meet housing requirements of the growing population (Haveman and Sexton, 2008). In the recent years, many real estate developers from the U.S. have increased their investments in the U.K. The positive market trends and steady growth in real estate have been successful in attracting foreign investors (Berry

Stakeholder Tertiary Project

Stakeholder Tertiary Project Task Statement: To address the theme of project requirements carry out research and from your finding draft clearly structured notes that explain what is: Meant by the primary, secondary and tertiary stakeholders The purpose of a scope document and sections it should contain Task Objectives: This task is given to find out the description about primary, secondary and tertiary stakeholder of a project and their activities with their concern area. All these will be described on the first section of this task. And the second section here will be defined and described about the purpose of a Scope document and also will be mentioned about its sections it should contain. Stakeholders The persons or organizations having an investment in what will be learned from an evaluation and what will be done with the knowledge. Stakeholders are groups of people who have an interest in a business organization. They can be seen as being either external to the organization, or internal. But some may be both. Primary Stakeholders Primary stakeholders are the intended beneficiaries of the project. Roles of Primary Stakeholder: Participation of primary stakeholders is essential in projects which are expected to have a direct positive impact on defined groups of people Examples of Primary Stakeholder: Employees Owners/Stockholders Customers Suppliers Stakeholder Secondary Stakeholders Secondary stakeholders are those who perform as intermediaries within a project. Roles of Primary Stakeholder: The main role of secondary stakeholder is linking local governance with national policies. In a few cases, secondary stakeholder plays a role also in consensus building, conflict management, decision making and financing. Example of secondary stakeholder: Intermediate government Local government NGOs The General Public Tertiary Stakeholders Tertiary stakeholders are those actors who are considered to have significant influence on the success of a project. Roles of tertiary Stakeholder: Tertiary stakeholders provide technical assistance, backstopping, extension and training services in their area of competence. They participate in decision-making and action taking and in awareness raising activities Tertiary stakeholder may assist in marketing, and provide financial support through investments. Example of Tertiary Stakeholder: Line agencies Enterprises and companies Banks National government authorities NGOs The purpose of Scope Documentation: The scope document is a general term for any document that refines and defines the requirements aspect of the triple constraint of time, cost, and requirements. In this general sense, it provides an overview of what the project is supposed to accomplish and clarifies how those accomplishments will be achieved. It may also provide the team members, customer, and project manager with insight on what is specifically not in the scope. The sections of a scope document: The outline for a scope document may include the elements discussed in the following sections. 1. Introduction/Background of the Project This includes the history and any environmental definitions required to understand the project. 2. Rationale/Business Opportunity This component expresses the advantages of moving ahead with the project and why it was undertaken. 3. Stakeholders and End Users This will list both business areas and individuals, citing their responsibilities, involvement, and any responsibilities or deliverables they may generate associated with the project. 4. Project Details This will sometimes be broken out into the functional requirements for the project and the technical requirements. The scope statement may only include the functional requirements. It should incorporate all of the mandatory requirements from the contract or memorandum of understanding, Should incorporate detail on the features of the deliverable that will serve those requirements. Administrative Requirements Because administrative responsibilities can be almost as onerous as project deliverable responsibilities, they should be clearly defined as components of the project scope Postproject Considerations Because the project effort normally makes up only a small component of a total system life cycle, any long-term considerations that will directly affect the project decision-making process should be incorporated in the scope document. Conclusion: This task was about the types of stakeholders and their respective responsibility in a project. And about their working roles with the example of stakeholder are provided in the task solution as I understand by reading the task statement and from my findings. I also tried to provide the information about scope documentation and its possible purposes. Reference: Web site: http://e-articles.info/e/a/title/Scope-Document/

Abortion Essay -- essays research papers

ABORTION Abortion, in my opinion, has been one of the largest debataable issues in American Society. There are so many aspects and views to examine before one can even begin to form their own opinion. In order to discuss an important issue such as abortion, we must first understand what it means. Abortion is the ending of a pregnancy before the fetus has developed and grown enough to live outside the mother. When abortion happens naturally before the 20th week it is called a spontaneous abortion, or miscarriage. If it happens naturally after the 20th week it is termed a late fetal death or a still birth. An abortion caused by a medical procedure is called an induced abortion. Most induced abortion are performed in the first trimester or first 12 weeks after conception.   Ã‚  Ã‚  Ã‚  Ã‚  The abortion debate seems like an unresolable conflict of rights. The right of women to control their own bodies, and the right of children to be born. In the United States abortion became legal in 1973. Recently, courts have upheld the right of a woman to have an abortion, and as a result, has caused many heated debates. The opposing abortion groups are refered to as â€Å"pro-life† and â€Å"pro-choise.† The people who refer to themselves as pro-choise belive the woman has the right to choose for herself whether to have an abortion. It has nothing to do with the humanity of the fetus but is entirely about the womans freedom. They say every persoon has the right to live and move in freedom. A pregnant woman and her unborn child are one and the law should protect the woman’s right. They most often refer to the embryo as nothing â€Å"a blob.† Saying that the fetus is not alive because it can not live outside the womans womb. Furthermore they gone as far as saying the world is already over-populated. They claim abortion is a personal choice. Therefore an abortion is justified if the mother wants an abortion. Whereas pro-life people belive that destroying a human life is morally wrong and should be restricted. Their belive that the loss of one’s life is one of the greatest losses one can suffer. The loss of one’s life deprives one of all the experiences, activ ities, and enjoyments that would otherwise have constituted one’s future. In their eyes abortion is a sin. They claim that human lives are being taken at a rate of 1.5 million a year for convenience. Is abortion right or... ...he already has all the children she wants. Also she could be very young and her parents do not want her to have the baby. Abortions under these circumstances are similar because it’s the deliberate taking of a life just for convenience.. I belive a pregnant woman should seek counseling and advice before making a decision to have an abortion. Counseling early in the pregnancy is important for a positive outcome regardless of whether the pregnancy will continue or an abortion is chosen There is other options for instance the baby could be given up for adoption. Besides if you know you have had unpotected sex there is emergency contraception methods available to prevent pregnancy up to 72 hours after the unprotected sex accoured. There are so many birth control methods currently available for there to be any unwanted pregancies. With one exception for pregnancies tresulting from rape or incest. I feel in my heart that a human life should not be sacrificed because it is a gift from God. This is only my opinion. There are alot of arguments regarding abortion. They all provide food for thought. If you want to hear other arguments just bring up the subject at your next family gathering.

Halting the wheels of hope Essay

The concept of governmental tyranny is often difficult to grasp to those living in more democratic nations, and media output and literature become key in growing to understand it’s implications. Serving to heighten this political perspective is â€Å"The Wheels of Freedom: Bicycles in China† by Fred Strebeigh, which describes China’s bicycle ban in 1989 and subsequent protests in Tiananmen Square, Beijing. The bicycle provided significant growth and freedom within Chinese culture, and Strebeigh endeavors to communicate this to readers. Illustrating this, he defends the will of the people to preserve their right to ride them in the face of government opposition, and the tragedy imposed by political oppression. Upon the bicycle’s introduction to the people of China in the early 20th century, many looked to it through eyes of bewilderment. A fascinating and not yet popularized machine, it was most commonly ridden by members of affluent societies. As it’s newness wore off, however, it slowly became available those of the more humble classes, and in place of the word â€Å"bicycle†, the term â€Å"foreign horse† found it’s use in the minds and mouths of the masses. Strebeigh includes that the term â€Å"foreign† communicated the people’s feelings of admiration for the bicycle while alluding to the fact that it was modern. The peasantry of China found themselves with the deepest sense of admiration for the â€Å"foreign horse†. To them, the thought of owning one brought to mind the ease it could bring to their everyday lives, as they often carried burdensome loads on their backs. Yet, the low supply and thus high cost of the bicycle made it’s acquisition impractical for them. In response to the desire, the government later began regulating higher production rates of the bicycle to readily supply them to the impoverished and raise morale. However, the term â€Å"foreign horse† was banned in light of it’s glorification of another nation’s ingenuity, highlighting the extremes of the Chinese government to exercise their sovereign of the people. In it’s place, the name â€Å"self-running cart†. This served to express the government sentiment that the people could have what they wanted, but only at it’somplete jurisdiction. The people tolerated the name change of their beloved bicycles, as the trade-off of name for it’s widespread distribution was easy enough, and many still used it’s original moniker in private. Following it’s popularization, the lives of many saw an enrichment in quality. The dignity of the people improved, as it granted them new freedoms and eased the stress of everyday tasks, al lowing for flourishing business and connectedness within communities. Perhaps stated best, Strebeigh wrote of it’s wide use, â€Å"Everywhere, cycles kept life rolling† (Strebeigh). In addition to heightening the commerce of societies, it introduced the occupation of bicycle repair, which Stebeigh revered as perhaps the â€Å"freest† job in China. In it’s praise, he wrote, â€Å"A hard worker needed only a street corner and a few tools. Before his eyes bikes would inevitably break down and, if he was skilled, clients would multiply. Bicycle repair seemed to offer an extension of what the bike itself offered and what so many Chinese sought: modest dignity, new choices, ample freedom. † (Strebeigh). Bike repair was a choice outside of the typical, and entirely pursued as an individual pleased. Sadly, it was the bicycles issuance of dignity, choices, and freedom that that ultimately inflicted threat upon the Chinese government. They understood that with bike ownership, the people were growing to a height of advantage. It was their supposition that, if the people continued in such a fashion, government control perhaps had the potential to become menial. To ensure that their ultimate authority was not being overlooked, a ban was placed on bicycles within China. News of this did not come amicably to the people, and their response was protest. It was Tianenmen Square in Bejing which saw the organization of a large-scale demonstration which rallied for government reform. It lasted weeks, and ended upon the mobilization of troops to the area. Their invasion was destructive and resulted in the loss of many lives as troops initiated the use of tanks and weaponry to control the people. In media coverage, it was not the bloodied bodies of victims that were aired on television screens in Chinese homes, but rather the depiction of bicycles which had been crushed by the military. Of it, Strebeigh writes, â€Å"They wanted to show crushed dignity, crushed humanity, crushed freedom–so much that the bicycle means in China. † (Strebeigh). This image was a wise devise of the government. They knew what the bicycle represented to the people, and knew that to show it destroyed would communicate their dominance and triumph. The concept of tyrannical rule and its implied bleakness are often incomprehensible, or altogether unrecognized by the people of more democratic countries given their many freedoms. With the words of Fred Strebeigh, however, perspective expands. The honor of an object as seemingly simple as a bicycle becomes worthy of defense, even dying for, and the tragedy of oppressive rule becomes very real. Works Cited

Banking Industry in Nigeria

Against the backdrop of the role of banks as financial intermediaries and their function as the engine of growth of the economy, this paper examines the extent to which the banking industry has helped to stimulate economic activities in Nigeria and what the prognosis looks like in the post-consolidation era.The paper notes that the banking industry in Nigeria witnessed a remarkable growth in terms of deposit base, number of branches, total asset and volume of loans and advances, especially since the de-regulation of the financial services sector in the last quarter of 1986. However, given the potentials of the market, banks need to do more, particularly in financing the real sector of the economy.It is argued that the consolidation programme is expected to have a positive effect on employment in the long-run, and that has drastically altered and redefined the nature of competition in the banking industry. Furthermore, it argues that mere size would no longer be a critical factor in t he customers’ choice of which bank to patronize. Rather, emphasis would shift to the ability to deliver superior value to customers. THE BANKING INDUSTRY AND THE NIGERIAN ECONOMY POST-CONSOLIDATION By DR. B.B. EBONG GROUP MANAGING DIRECTOR/CHIEF EXECUTIVE UNION BANK OF NIGERIA PLC 1. 0 INTRODUCTION Banks facilitate economic growth in a variety of ways. In the first instance, they act as financial intermediaries between the surplus generating units and the deficit spending ones. This is a two-fold function involving the mobilisation of savings from the former group which are then channelled to the latter to support productive economic activities. This intermediary role is important in two respects.First, by pooling together savings that would have otherwise been fragmented, banks are able to achieve economies of scale with potential benefits for the users of such funds. Secondly, in the absence of banks, each person or business seeking credit facility would have had to individ ually look for those with such funds and negotiate with them directly. This is a cumbersome and timeconsuming process of double coincidence of wants. By matching the preferences of savers with those of borrowers therefore, banks help in overcoming such difficulties.It is pertinent to note that it is from this intermediation function that banks normally not only earn the bulk of their income by way of interest margin but also pay out returns to savers, compensating them for the opportunity cost of their money. It is important to bear this point in mind because, as we shall see later, if any bank is unable to recover the funds it lends out, its own existence as a going concern would be undermined rapidly and ultimately. This is to the extent that its ability to meet the withdrawal needs of depositors would be impaired.It is for this reason that the officials of any bank cannot afford to toy with the management of its risk assets. Towards ensuring that the funds they lend out are recov ered, banks have found it expedient to provide business advisory services to their customers. The essence of availing their clients these services is to assure themselves that the beneficiaries adopt modern management policies and practices in running the affairs of their respective companies which benefit from borrowed funds. The ultimate goal is to guarantee that these customers are in a position o service their loan obligations as and when due. This, in turn, would enable banks meet their obligations to depositors while also earning a narrow margin to ensure business continuity and corporate growth. Banks also play a pivotal role in an economy by providing a mechanism for producers/buyers and consumers/sellers to settle transactions between themselves. They do this not only within a country but also across national boundaries through a highly efficient and technologically enabled payments systems.In the process, banks encourage specialisation and division of labour, a major advan tage of which is the enhanced production and economic growth of the country. Furthermore, banks act as a conduit for the transmission of monetary policy. They provide a veritable platform when it comes to the implementation of monetary, credit, foreign exchange, and other financial sector policies of the government. Among other things, monetary policy is designed to influence the cost and availability of loanable funds with a view to promoting non-inflationary growth.The instruments available to the Central Bank to achieve this include open market operations (OMO), the cash reserve ratio (CRR), liquidity ratio (LR) and of course, moral suasion. The capacity of the banking industry to perform these functions effectively is, to a large extent, determined by the financial health of the individual institutions themselves and soundness and viability of the industry as a whole. For instance, where the majority of banks are adjudged to be weak and unhealthy, that will impair the ability of the industry to lubricate economic growth and vice versa.Against this background, the objective of this presentation is to examine the extent to which the banking industry has helped to stimulate economic activities in Nigeria and what the prognosis looks like in the post-consolidation era, come January 2006. To achieve its objective, this paper is organised into five parts. Following this introduction, we review the performance of the Nigerian banking industry between 2000 and 2004 in section II. The challenges facing the banking industry, which the current reform programme was designed to address, are highlighted in section III.In section IV, we present the prognosis and outlook during the post-consolidation era while section V contains the concluding remarks. 2. 0 THE PERFORMANCE OF THE NIGERIAN BANKING INDUSTRY IN 1990 – 2004 PERIOD. The banking industry in Nigeria has witnessed a remarkable growth, especially since the de-regulation of the financial services sector in t he last quarter of 1986. In terms of headcount for instance, the number of banks increased by about 154. 8% from 42 in 1986 to 107 in 1990. It further increased by about 12% to120 in 1992.By 2004, however, the number had reduced to 89. This was because, some banks had to be liquidated on account of their dwindling fortunes. The number of bank branches also rose from 1,394 in 1986 to 2,013 in 1990, 2,391 in1992 and by 2004 in spite of the reduction in number of banks, it had reached 3,100. This translates to an inter-temporal increases of 44%, 18. 8% and 29. 7%, respectively. Given this scenario, the pertinent question agitating the critical mind is the extent to which the expansion in the number of banks and their branch network had impacted on the economy.Another way to evaluate the performance of banks is to carefully examine the credits they granted, both in terms of volume, distribution by sectors, and the maturity profile. The data on banks’ credit to the economy are sho wn in table 2 below. Table 2: Banks’ Credits to the Economy, 1990 – 2004 Year Aggregate banks’ credit (Net) (N billion) 42. 58 49. 41 59. 25 125. 75 162. 83 194. 05 266. 44 Growth rate (%) Net Domestic Credit Target (%) 13. 5 10. 6 13. 2 17. 5 9. 4 11. 3 12. 0 Actual (%) 17. 1 45. 3 69. 1 91. 4 29. 2 7. -23. 4 1990 1991 1992 1993 1994 1995 1996 16 19. 9 112. 2 29. 5 19. 2 37. 3 1997 1998 1999 2000 2001 2002 2003 2004 302. 31 378. 08 608. 44 807. 01 1,033. 64 1,302. 2 1,591. 2 2,078. 1 13. 5 25. 1 60. 1 32. 6 28. 1 26. 0 22. 2 30. 6 24. 8 24. 5 18. 3 27. 8 15. 8 57. 9 25. 7 24. 5 -2. 8 46. 8 30. 0 -25. 3 79. 9 64. 6 29. 1 12. 0 Source: Central Bank of Nigeria, Annual Report and Statement of Accounts, (various years) As the figures show, the rate of growth of aggregate bank credit (net) to the domestic economy ranged from 13. % in 1997 to 112. 2% in 1993. However, according to the Central Bank of Nigeria, in its 2004 Annual Report and Statement of Accounts, an ana lysis of the sectoral allocation of these credits revealed that the less productive sectors of the economy continued to be favoured. For instance, in 2003, those sectors comprising agriculture, solid minerals and manufacturing got only 40. 2% of the credits. The situation worsened in 2004 as this figure further declined to 37. 0%.The corollary of this is that, on average, it was more attractive for banks to lend to such sectors as distributive trade, especially import financing, because the risks associated with such lending were relatively lower. The turn around time was equally shorter. Furthermore, as shown in the last column of table 2, actual domestic credit (net) consistently deviated from target for most of the years for which data was shown. If we take the targets to be representative of societal preference, what this means is that the flow of credit for each of those years was far from what was socially desirable.The quality of these risk assets has worsened progressively s ince 2002 as the statistics in table 3 demonstrate graphically. Table 3: Asset Quality of Nigerian Banks, 1990 – 2004 Year Ratio of non-Performing Credit to total Credit (%) Ratio of non-Performing Credit to Shareholders’ Funds (%) 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 44. 10 39. 00 45. 00 41. 00 43. 00 32. 90 33. 90 25. 81 19. 35 21. 5 16. 9 21. 3 21. 6 23. 08 344. 00 222. 00 299. 00 380. 86 567. 70 496. 00 419. 80 253. 09 89. 20 92. 2 77. 1 85. 9 89. 105. 3 Source: Nigeria Deposit Insurance Corporation, Annual Report & Statement of Accounts, Various Issues The data in table 3 reveal that the ratio of non-performing credit to total credit declined from 45% in 1992 to 23. 08% in 2004. This means that of every N100. 00 lent out during these years, banks lost an average of N30. 60. These losses contributed in no small way to the erosion of shareholders’ funds as shown in the table. These bad accounts represented 567. 7%, 419. 8 % and 105. 3% of shareholders’ funds in 1994, 1996 and 2004, respectively.In deed, in the years 1990 to 1997, the shareholders’ funds had been impaired by non-performing risk assets in several multiples. The factors responsible for the poor quality of risk assets range from inadequate appraisal of credit proposals, unfavourable environmental factors that adversely affected the cash flow of the clients’ businesses to sheer unwillingness to repay credit facilities on the part of borrowers and the corresponding ineffectiveness of the rule of law to catch up with pathological loan defaulted some of whom moved round and ravaged one bank after the other.The deterioration in the quality of banks’ risk assets took its toll on the health of the industry as the outcome of the rating of all licensed banks by the Central Bank of Nigeria using the CAMEL parameters has shown. The result of that exercise, which is reproduced in table 4 below, has shown glaringly that th e performance of banks in the country has deteriorated since 2001. Table 4: Rating of Banks Using the CAMEL Parameters, 2001 – 2004 2001 No. of % of Banks Total Sound 10 11. 1 Satisfactory 63 70. Marginal 8 8. 9 Unsound 9 10. 0 Total 90 100. 0 Category 2002 No. of Banks 13 54 13 10 90 2003 No. of Banks 11 53 14 9 87 2004 No. of % of Banks Total 10 11. 5 51 58. 6 16 18. 4 10 11. 5 87 100. 0 % of Total 14. 4 60. 1 14. 4 11. 1 100. 0 % of Total 12. 6 60. 9 16. 1 10. 4 100. 0 Source: Central Bank of Nigeria, Annual Report and Statement of Accounts, 2004 From the table above, it can be seen that the banks adjudged to be sound was consistently less than 15% of the total number for the four-year period.In addition, those whose performance was considered satisfactory represented as high as 70% of the total in 2001. By 2004, however, this group represented only 58. 6% of the total number of banks covered by the exercise. Apart from poor quality assets, other factors responsible for th is state of affairs include under-capitalisation, weak corporate governance practices, and the challenges of ethics and professionalism. It is these factors that the on-going reform agenda seeks to address with a view to totally overhauling the system.These issues are examined in more details in the next section. 3. 0 CHALLENGES FACING THE BANKING INDUSTRY IN NIGERIA The current banking sector reform in Nigeria was designed to promote the viability, soundness and stability of the system to enable it adequately meet the aspirations of the economy in terms of accelerated economic growth and development. The reform agenda was motivated by the need to proactively put the Nigerian banking industry on the path of global competitiveness to enable it effectively respond to the challenges of globalisation.The overall objective is to guarantee that the economy and Nigerians do not remain fringe players in the context of a globalizing world. The major challenges that the reform was targeted at include inter alia, the following: Weak capital base. Most banks in Nigeria had a capital base that was less than US$10 million while the largest bank in the country had a capital base of about US$240 million. This compared unfavourably with the situation in Malaysia where the smallest bank had a capital base of US$526 million.The small size of most local banks, coupled with their high overheads and operating expenses, has negative implications for the cost of intermediation. It also meant that they could not effectively participate in big-ticket deals, especially within framework of the single obligor limit. The challenge of ethics and professionalism. In a bid to survive the stiff competition in the market, a number of operators had resorted to unethical and unprofessional practices. Strictly speaking, some even went into some businesses that could not be classified as banking.In appreciation of the enormity of the problems caused by the failure to adhere to professional and ethi cal standards, the Bankers’ Committee set up a sub-committee on â€Å"ethics and professionalism† to handle complaints and disputes arising from unwholesome and sharp practices. Poor corporate governance practices. There were several instances where Board members and management staff failed to uphold and promote the basic pillars of sound corporate governance because they were preoccupied with the attainment of narrowly defined interests. The symptoms of this included high turn over in the Board and management staff, inaccurate reporting and on-compliance with regulatory requirements. Gross insider abuses. One area where this was pronounced was the credit function. As a result, there were several cases of huge non-performing insider-related credits. Insolvency. The magnitude of non-performing risk assets was such that it had eroded the shareholders’ funds of a number of banks. For instance, according to the 2004 NDIC Annual Report, the ratio of non-performing cr edit to shareholders’ funds deteriorated from 90% in 2003 to 105% in 2004. This meant that the shareholders’ funds had been completely wiped out industry-wide by the non-performing credit portfolio.Over-reliance on public sector deposits. These deposits accounted for over 20% of total deposits in the system. In some institutions, such public sector funds represented more than 50% of total deposits. This was not a healthy situation from the viewpoint of effective planning and plan implementation, given the volatile nature of these deposits. On account of the huge reliance on public sector funds, a number of players did not pay adequate attention to small savers who normally constitute a major source of stable funds which should be channelled to finance the real sectors.Instead, they concentrated on a few high networth individuals, government parastatals and blue chip companies. It was in response to this situation coupled with the need to accord the small and medium ent erprises sub-sector the priority it deserves that the Bankers’ Committee came up with the Small and Medium Enterprises Equity Investment Scheme (SMEEIS) with a view to redirecting credit flows to the sub-sector Distinguished Ladies and Gentlemen, the foregoing captures the situation in the banking industry at the time the reform agenda for the sector was conceptualised and introduced.One has taken time to highlight the challenges that the industry was grappling with to enable us better appreciate the rationale for the reform in terms of what it is intended to achieve. Even though the consolidation programme has thirteen basic elements, it is those relating to the minimum capital base for banks and mergers and acquisitions that have received the most attention in the ensuing public discourse on the subject. In the light of this, it might be useful to enumerate these elements, more so that they are at the centre of this discussion.These planks of the reform programme are: Incre ase in the minimum capital base of banks from N2 billion to N25 billion with December 31, 2005 as deadline for compliance; Consolidation of banks through mergers and acquisitions; Phased withdrawal of public sector funds from banks, beginning from July, 2004; Adoption of a risk-focused and rule-based regulatory framework for the industry; Adoption of zero tolerance in the regulatory framework particularly in the area of information rendition/reporting. All returns by any bank must now be signed by the Managing Director;The automation of the process for rendition of returns by banks and other financial institutions through the electronic Financial Analysis and Surveillance System (e-FASS); Establishment of a hotline and confidential internet address to enable Nigerians wishing to share confidential information with the Governor of the Central Bank of Nigeria to do so; Strict enforcement of the contingency planning framework for systemic banking distress; The establishment of an Asset s Management Company as an important element of distress resolution;Promotion of the enforcement of dormant laws, especially those relating to the issuance of dud cheques and the law relating to the vicarious liabilities of the Board members of banks in cases of bank failure; Revision and updating of relevant laws, and drafting of new ones relating to the effective operations of the banking system; Closer collaboration with the Economic and Financial Crimes Commission in the establishment of the Financial Intelligence Unit and the enforcement of the antimoney laundering and other economic crimes measures; andRehabilitation and effective management of the Mint to meet the security printing needs of Nigeria, including the banking system which constitutes over 90% of the Mint’s business. The likely impact of these measures on the banking industry and the economy are examined in the next section. 4. 0 ANTICIPATED IMPACT OF THE CONSOLIDATION PROGRAMME ON THE BANKING INDUSTRY AND T HE NIGERIAN ECONOMY In this section, we will attempt to paint a scenario regarding the probable impact of the consolidation programme on the banking industry and, hence, the economy.In doing so, it is important to reiterate that even though the reform agenda is targeted at the banking industry, its ultimate focus is the Nigerian economy. In view of this, and in order to put the discussion in proper perspective, we would like to begin this section with a brief review of the performance of the economy between 2000 and 2004 which data are presented in table 5 hereunder: Table 5: Nigeria, Selected Macroeconomic Indicators, 2000 – 2004 Indicator Real GDP Growth Rate (%) Oil Sector Non-Oil Sector Manufacturing Capacity Utilisation (%) Gross National Savings (% of GDP) Gross Fixed CapitalFormation (% of GDP) Inflation Rate (%) External Reserves (US $ million) 2000 5. 4 2001 4. 6 2002 3. 5 2003 10. 2 2004 6. 1 11. 3 2. 9 5. 2 4. 3 -5. 7 7. 9 23. 9 4. 5 3. 3 7. 5 36. 1 39. 6 44. 3 45. 6 45. 0 NA 11. 3 15. 6 13. 6 15. 3 7. 3 7. 2 9. 1 12. 0 16. 2 6. 9 9,910. 4 18. 9 10,415. 6 12. 9 7,681. 1 14. 0 7,467. 8 15. 0 16,955. 0 Source: Central Bank of Nigeria, Annual Report and Statement of Accounts, 2004 The data in table 5 reveal that, in real terms, the rate of growth of domestic output ranged from 3. 5% to 10. 2% between year 2000 and 2004. The average annual growth rate for the period was 5. 6%, which falls far short of the 10% minimum that is required for the country to meet the targets set in the Millennium Development Goals (MDG). Furthermore, the service sector and wholesale & retail trade still account for a disproportionate share of total output, considering our stage of economic development. On the other hand, the real productive sectors like agriculture and manufacturing are yet to assume their pride of place in the economy. As can be seen from the statistics, capacity utilisation in the manufacturing sector was consistently below 50% throughout the five ye ars.Among other things, this is a reflection of the undue competition that local manufacturers have had to face from their relatively more mature and efficient overseas counterparts. These are not healthy developments from the viewpoint of a developing country that is desirous of achieving sustained economic growth. Given the low level of domestic output, coupled with the rising demand, it is not surprising that the authorities were not able to keep the inflation rate below double digit as intended.It is this parlous state of the economy that the banking sector reform was designed to address at the end of the day. The expectation is that the reform programme will impact positively on the banking industry and thus put the economy on the path of sustainable growth. While most analysts have expressed serious concerns regarding the adverse impact of the consolidation programme on the level of employment, the authorities at the Central Bank of Nigeria have allayed such fears.While acknow ledging that employment opportunities in the industry would shrink, at least in the short run, the management of the Bank is optimistic that the long-term positive effects of the reform programme on the labour market will be more far- reaching. The thrust of the argument is that at the end of the day, the consolidation programme will lead to a stronger and more robust banking industry that will adequately support the expansion of economic activities, especially in the real sectors of the economy. In this process of rejuvenating the economy, more job opportunities will be created.The consolidation programme will drastically alter and redefine the nature of competition in the banking industry. By significantly increasing the minimum capital base for banks, the policy has not only raised the barriers for new entrants, it has also reduced the number of banks in the system through the mergers and acquisitions. It will be recalled that hitherto, competition in the industry was essentially between those players that one may safely refer to as the â€Å"industry giants† on the one hand, and those popularly referred to as the new generation banks, on the other.Going forward, however, what we will witness is a battle for survival among the ensuing mega banks, all with extensive branch network. In the new dispensation, stability of individual institutions and, hence, safety of depositors’ funds is not likely to remain a major consideration in customers’ choice of which bank to patronise. Rather, emphasis will shift to the ability to deliver superior value to clients and stakeholders generally as well as the prices for bank products and services. As pointed out earlier, many banks in Nigeria had relied heavily on the public sector as a source of funds.Consequently, they did not aggressively explore available potentials in other market segments. This situation will, however, change with the withdrawal of public sector funds from the vaults of banks as part of the policy shift. We therefore expect that banks will focus more on those sectors that were hitherto underserved like the real, informal sectors, including the consumer market. They need to devise creative ways of effectively tapping into the opportunities in these market segments, both in terms of deposit mobilisation and the provision of credit facilities.Going forward therefore, banks are more likely to provide better support for sustained economic growth in Nigeria. The pressure to aggressively explore those market segments that were hitherto underserved will be reinforced by the desire on the part of the management of each bank to continue to generate attractive returns to shareholders. Currently, the average return on invested capital (ROIC) in the Nigerian banking industry is estimated at 38%. With the substantial increase in shareholders’ funds, however, each bank will need to generate a minimum of N9. billion in profit before tax in order to maintain the same rate of return. This is a daunting challenge that calls for creativity. To meet the challenge, banks will need to radically redefine their business models and strategies. The status of corporate governance in the banking industry is expected to improve remarkably following the change in ownership structure. This is because, even though poor governance practices cut across the industry, they were more pronounced in the privately owned institutions.Given the dilution of ownership in the new dispensation, the situation where individuals and their cronies had overbearing influence in the running and management of banks will become a thing of the past. Moreover, as public companies, each bank will now be subjected to a higher standard of governance in terms of information disclosure. 5. 0 SUMMARY AND CONCLUSION In this paper, we have examined the probable impact of the on-going banking sector reform on the Nigerian economy.In the process, we drew attention to the challenges facing opera tors in the banking industry that need to be addressed for the industry to make desired contributions to the orderly growth of the economy. These challenges encompass those of unethical and unprofessional behaviour, poor corporate governance practices, weak capital base, and over-dependence on public sector deposits. From the analysis, it is clear that the consolidation programme will impact positively on the economy for a number of reasons.First, the development is expected to have long-term beneficial effects on the level of employment considering that it will facilitate enhanced production in diverse sectors of the economy. The reform programme will also redefine the nature of competition in the banking industry such that each institution will have no choice but to assign priority to its capacity to deliver superior value to its clients, since this is what will ultimately make the difference between losers and winners. By denying anks access to public sector deposits, the reform will make it imperative for them to shift focus to those market segments that were largely unbanked and untapped hitherto. Furthermore, it is envisaged that the consolidation programme will have salutary effects on corporate governance practices in the industry. In concluding this discussion, it is important to reiterate that the realisation of these outcomes would depend on the effective implementation of the programme. In particular, it would depend on how the banks that have embraced mergers and acquisition handle the post integration challenges that will face them.Where these issues are nor properly handled, the anticipated synergy may become elusive.BIBLIOGRAPHY Central Bank of Nigeria, Annual Report and Statement of Accounts, (various issues. ) Nigeria Deposit Insurance Corporation, Annual Report and Accounts, (various issued) Statement of Mckinnon, R. I. (1973), Money and Capital in Economic Development Washington, D. C. : The Brookings Institution. Oboh, G. A. T. (2005), Sel ected Essays On Contemporary Issues In The Nigerian Banking System. Ibadan: University Press Plc.

Free Essays on Moving Out

The common phrase, â€Å"I can’t wait to move out†, is repeatedly heard by parents of college students all across the world. These fine young men and women finally get their chance to move out and quickly realize what they have gotten themselves into. Although moving out seems like the best thing in the world, homesickness quickly sets in. These students finally become conscious of the fact that they now have to pay bills, they have to deal with sloppy roommates, and there is no longer anyone to pick up after them. There is not one eighteen year old in this country that hasn’t thought about moving out of their parents house. The concept is most liberating for college students. â€Å"Ha-Ha, I get to do whatever I want now†, they declare. Though the idea seems like the best notion to most students, it is quickly overshadowed by its disadvantages. The bill for living on one’s own starts anywhere from three hundred to eight hundred dollars depending on how big of a place the student has rented and how many roommates have also come along for the venture. To many individuals three hundred dollars is not an immense amount of money, but to a college student it could be a fortune. With their days consisting of one to six hours of class and having to juggle so many social contracts (partying), it can be hard to find enough time for work to pay the rent. Students also have to bear in mind that rent is not the only thing they will be spending their money on. Food is one of the most basic needs of humans; but as a matter of fact, college kids usually overlook this expense. Students must buy, prepare, and cook for themselves, which can turn ugly. Since this takes so much time and management skills, fast food is a quick out. This, in turn, may become costly. For example, my roommates and I have been known to drop anywhere from fifty to one hundred dollars of hard earned cash on fast food restaurants. This sincerely dips into the students r... Free Essays on Moving Out Free Essays on Moving Out The common phrase, â€Å"I can’t wait to move out†, is repeatedly heard by parents of college students all across the world. These fine young men and women finally get their chance to move out and quickly realize what they have gotten themselves into. Although moving out seems like the best thing in the world, homesickness quickly sets in. These students finally become conscious of the fact that they now have to pay bills, they have to deal with sloppy roommates, and there is no longer anyone to pick up after them. There is not one eighteen year old in this country that hasn’t thought about moving out of their parents house. The concept is most liberating for college students. â€Å"Ha-Ha, I get to do whatever I want now†, they declare. Though the idea seems like the best notion to most students, it is quickly overshadowed by its disadvantages. The bill for living on one’s own starts anywhere from three hundred to eight hundred dollars depending on how big of a place the student has rented and how many roommates have also come along for the venture. To many individuals three hundred dollars is not an immense amount of money, but to a college student it could be a fortune. With their days consisting of one to six hours of class and having to juggle so many social contracts (partying), it can be hard to find enough time for work to pay the rent. Students also have to bear in mind that rent is not the only thing they will be spending their money on. Food is one of the most basic needs of humans; but as a matter of fact, college kids usually overlook this expense. Students must buy, prepare, and cook for themselves, which can turn ugly. Since this takes so much time and management skills, fast food is a quick out. This, in turn, may become costly. For example, my roommates and I have been known to drop anywhere from fifty to one hundred dollars of hard earned cash on fast food restaurants. This sincerely dips into the students r...

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Discussion question - Essay Example If companies were able to realize that in the long run it is better to be environmentally-conscious, then I am sure that more companies would be socially responsible. It is in the self-interest of companies to be socially responsible because the decisions that they make and actions that are taken will reflect back on the company. For corporations that become well-known for damaging the environment, the consequences may be devastating. Most consumers do not like buying a product from a company that disrespects society and looks to take advantage of people. Once a corporations actions are discovered, it is likely that customers will take their business somewhere else. This is why it is best for firms to come up with ways to protect the environment because it makes commercial sense rather than the government forcing these corporations to pay up. 2- Lincoln Electric considers customers and employees to be more important stakeholders than shareholders. Is it appropriate for management to define some stakeholders as more important than others? Should all stakeholders be considered equal? It is not appropriate for management to differentiate between stakeholders in order of importance. The fact is that each stakeholder has a vested interest in the business and so they should be treated with the same respect. Of course each stakeholder has a different role to play, but a business would not survive without the participation of all of the stakeholders. Customers are the lifeblood of a business because without consumers choosing to part with the money, a business would not make any revenue. Employees also play a vital role because they are the face of the business and are the go-between for management and customers. It is up to employees to sell the brand so that the customer is willing to part with their money. On the other hand, while shareholders may not seem to play an important role in

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Literary Analysis - Essay Example The fact that everything is red is something Carson brings and uses. Everything about Geryon is red, as well as everything in Autobiography of Red. What does red mean? Is the book a personal history of the color red as composed by Anne Carson? Not likely. Red is a striking color, more striking than dark, or chestnut, or blue. Red is striking and peculiar and, accordingly, red is the ideal illustration for difference, which Carson uses throughout Autobiography of Red to convey Geryons part as an outsider, a test to the hetero-narrative. Geryon had, what most would say, a bad youth and, likely, a different one from his peers. His mother was well intentioned, however pointless, while his father was mostly absent. Geryons older sibling sexually abused him. Geryon was red even in his adolescence, as was every little thing about him, from the "red silk chalk" utilized by his instructors to the "dull pink air" that encompassed his home (Carson 26, 36). In Geryons personal history, he set down the facts believed about himself, above all else of which is that "Geryon was a monster whose every little thing about him was red" (Carson 37). Geryon was such a different individual, to the point that he would not take the conventional route to his classroom at school. He would stroll to the most distant end of the building and "stand still until somebody inside noticed and turned out to show him the way. He didnt move neither did he knock on the glass but little, red, and upright he held up† (Carson 25). When he was far fro m his peers, he stood and waited to be included in their games or activities. He was commonly known as the different one, the other. Having a contemporary hero who is actually red is, to a degree, a different thing from what people are used to. Yet, what difference is using red, as an analogy, if yellow or orange would work and are additionally striking shades? Geryon must be red or the analogy, primarily,