My Ethical Beliefs Essay Example for Free

My Ethical Beliefs Essay As I plunked down to compose this paper, I truly attempted to kick it off with this definition. It is a unique little something that whenever spoken about, you realize what it is, yet the moment you are approached to separate it, the assignment isn't simple. I surmise I will start by saying that morals is what is commonly acknowledged as right, or right. Despite the fact that morals are normally use all the while with ethics, I think ethics are increasingly acquired and individual while morals are what most of individuals in a single culture consider to be moral. As it were, morals resemble a lot of decides that oversee human practices and fill in as a reason for right direct standards. Subsequent to looking into the moral methodologies, a couple stood apart to me as being applicable to my own convictions. The primary that I perceived was the equity approach for its utilization of decency. At the point when I am attempting to determine a difficult I generally attempt to gauge the great with the terrible as in this methodology. The equity approach at last poses the inquiry, â€Å"Is this a reasonable dispersion of advantages and burdens?†, which I believe is only that. You need to consider how much good or mischief will happen to your choice. I imagine that this methodology is imperative to apply in the study hall. I discovered that reasonable and simply doesn't generally mean everybody gets what they need. There will be a lot of times when a circumstance won't have an answer that satisfies everybody, except that is the place the equity approach becomes an integral factor. In the study hall, I think it is significant for educators to once in a while remove their feelings from a circumstance and truly observe it for what it is as opposed to suspecting who will be distraught or vexed about a choice. For instance, if there are ten understudies out of a class of 30 that can not finish a task on the day it was expected in any way, shape or form despite the fact that it had been plainly set with time ahead of time, at that point as indicated by this methodology, the instructor may drive the due date further down since all the understudies would profit by it and the understudies evaluations would be hurt in the event that it was not changed. Notwithstanding, the educator may offer the understudies that did the venture on an ideal opportunity to have additional credit or may very well punish the ten understudies marginally so as to keep it reasonable for everybody. The other methodology that sticks out to me was the one identifying with temperances. I like to feel that I am non judgemental and regard people’s convictions however with regards to settling on my own choices, I certainly search inside my own convictions to settle on decisions. The temperance approach inquires as to whether your choice mirrors the individual you need to be which or the perspectives on an association you speak to. I attempt to hold myself up to an exclusive expectation of ethical quality and I discover this methodology coordinates that idea well. Each educator has their own exceptional style of instructing and their own convictions, and there is nothing amiss with that. It is in reality significant for understudies to encounter distinctive kind of individuals as their instructors with the goal that they can encounter how various individuals can be. With regards to this ideals approach, I feel like this idea could be difficult to actualize. Not generally, however I accept now and then educators need to set aside their own ethics to manage certain circumstances. Be that as it may, then again, I figure passing by this methodology can likewise be useful, if an instructor has great ethics, they are bound to use sound judgment. A case of this could be in a circumstance where an understudy carries on in class however you realize it is a consequence of a negative circumstance that happened in their home. Much of the time, an instructor may chide that youngster and not think about whatever else, however on the off chance that an educator were to look into her/his own ideals and attempt to work out the circumstance with the understudy since they realize it isn't originating from a noxious spot. There might be significantly more than only two alternatives offered as an answer in some random circumstance. Consequently, instructors have the Florida Department of Education Code of Ethics by which we pass by. This code of morals is set up as an approach to set a norm. Not every person has a similar arrangement of ethics and morals however by composing this code the branch of training they make it understood to all instructors that so as to fill in as an educator in the province of Florida, at that point you should submit to their standards. The code considers instructors responsible for their activities with no ill defined situations. It is applied to all instructors in the state funded educational system and influences them straightforwardly therefore. As future educators, we have to acknowledge that regardless of whether we don't generally concur with it, we need to submit to the standards in the code of morals. The guide will direct how to go about huge numbers of the circumstances we may experience in our study halls. In this way, the Florida Department of Education Code of Ethics is fundamental to our calling.

The Culture of Cola: Social and Economic Aspects of a West African Domesticate :: Botany

The Culture of Cola: Social and Economic Aspects of a West African Domesticate The territory of study known as financial herbal science is a wide-extending one, however is frequently worried about the connection among people and the plants they use for food and medication and crude materials for haven, instruments and other material needs. Less frequently referenced, in spite of the fact that not so much disregarded, are those plants that might be seen fundamentally as being of more subtle and direct material advantage to the individuals who use them. The nut of the cola tree gives a case of such a plant item, one of constrained healthful or material use, however being of incredible social significance. Among the different societies utilizing it, the cola nut assumes significant social jobs in for all intents and purposes each part of life, from birth to death. The cola tree has a place with the Sterculiaceae family and is indigenous to West Africa, particularly the countries of Sierra Leone, Liberia, Ivory Coast and Nigeria, yet is discovered eastbound to Gabon and the Congo River Basin. The class Cola is contained around forty species, however the most usually utilized are Cola verticillata, C. anomala and C. nitida, with the last two being of the best financial significance (Lovejoy, 1980). Cola is identified with the cacao tree, yet is taller (up to 30-40 feet), and has smooth bark with longitudinal splits and thick foliage with enormous, rugged oblongate leaves exchange on huge petioles. It has little cup-molded blossoms borne in bunches on short pedicels in the leaf axils. Both male and bisexual blossoms are found, in spite of the fact that the last are practically female since the anthers are not dust shedding. The natural products are borne on youthful branches and structure a star-formed bunch of cases, for the most part numbering five, with every follicle bearing 4-10 chestnut-sized seeds. C. nitida is dicotyledonous, while C. acuminata has multiple cotyledons, and may have at least six (McIlroy, 1963). Generally, the nut is utilized as a masticatory in a way like that of betel-nut. Its notoriety is because of the a lot of caffeine and littler measures of theobromine, kolatin and glucose it contains, all of which go about as energizers and might be somewhat addictive (Lovejoy, 1980). Its energizer impact likewise makes it helpful as a craving suppressant, and it was regularly utilized as iron proportions for armed forces on the walk, permitting enormous separations to be voyage while conveying at least food (Sundstrom, 1966).

NameCheap April 2010 Discount Coupon

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Corporate Finance - 778 Words

WEEK 2 NPV, PBP, IRR, EAC( equivalent annual cash flow) NPV: If NPVgt;0, accept the project [which are expected to add value to the firm], otherwise don’t bother. Reminders Rule 1: Only cash flow is relevant Cash flow ≠  accounting income †¢In an income statement, profit is shown as it is earned rather than when the company and its customers get around to paying their bills. †¢Cash outflows are sorted into two categories: 1) current expenses, deducted when calculating income; and 2) capital expenses, depreciated over several years. †¢Always estimate cash flows on an after-tax basis; taxes should be discounted from their actual payment date Rule2: Estimate cash flows on an incremental basis Do not confuse average with†¦show more content†¦EAC: Equivalent Annual Cash Flow The cash flow per period with the same present value as the actual cash flow as the project Markowitz Portfolio Theory Conditions: 1. If returns are normally distributed, expected return and standard deviation are the only two measures that an investor need consider. 2. Combining stocks into portfolios can reduce standard deviation, below the level obtained from a simple weighted average calculation. 3. Correlation coefficients make this possible. 4. The various weighted combinations of stocks that create this standard deviations constitute the set of efficient portfolios. †¢The expected return of the portfolio: E(Rp)=w1E(R1)+w2E(R2) †¢The standard deviation of the portfolio: ÏÆ'p=w12ÏÆ'12+w22ÏÆ'12+w1w2Ï 12ÏÆ'1ÏÆ'2 †¢The key to diversification is Ï  The gain from diversification depends on how highly the stocks are correlated. Unsystematic risk 1. Diversifiable risk; â€Å"Unique risk†; â€Å"Asset-specific risk† 2. Risk factors that affect a limited number of assets 3. Risk that can be eliminated by combining assets into portfolios Examples: labour strikes, part shortages, etc. Unsystematic risk 1. Diversifiable risk; â€Å"Unique risk†; â€Å"Asset-specific risk† 2. Risk factors that affect a limited number of assets 3. Risk that can be eliminated by combining assets into portfolios Examples: labour strikes, part shortages, etc. †¢If Ï  = 1.0, there is no gain in diversification. †¢If Ï  =−1.0, the portfolio would have no riskShow MoreRelatedCorporate Finance Notes1881 Words   |  8 PagesStudy notes By Zhipeng Yan Corporate Finance Stephen A. Ross, Randolph W. Westerfield, Jeffrey Jaffe Chapter 1 Introduction to Corporate Finance ..................................................................... 2 Chapter 2 Accounting Statements and Cash Flow.............................................................. 3 Chapter 3 Financial Markets and NPV: First Principles of Finance................................... 6 Chapter 4 Net Present Value....................................Read MoreNotes for Corporate Finance2082 Words   |  9 PagesCorporate Finance Notes * Chapter One: Introduce to Corporate Finance 1. Three Questions: A. What Long-term asset should be invested? Capital Budgeting B. How to raise cash for capital expenditures? Capital Structure C. How to manage short-term cash flow? Net Working Capital 2. Capital Structure: Marketing Value of Firm = MV of Debt + MV of Equity 3. Finance perspect and Accountant perspect: Finance: Cash Flow ! Accountant: A/R means profit ! 4. Sole proprietorshipRead MoreCorporate Finance69408 Words   |  278 PagesCorporate finance P. Frantz, R. Payne, J. Favilukis FN3092, 2790092 2011 Undergraduate study in Economics, Management, Finance and the Social Sciences This subject guide is for a Level 3 course (also known as a ‘300 course’) offered as part of the University of London International Programmes in Economics, Management, Finance and the Social Sciences. This is equivalent to Level 6 within the Framework for Higher Education Qualifications in England, Wales and Northern Ireland (FHEQ). For moreRead MoreCorporate Finance4881 Words   |  20 PagesTrends of Leverage 7 2.3 Comparison of capital structure with similar companies 9 2.4 Capital expenditures and its financing 10 2.5 Important factors influencing the use of debt financing 10 2.5.1 Tax Advantage 10 2.5.2 Corporate Tax Rate 11 2.5.3 Credit rating 11 2.5.4 Interest rate 11 2.5.5 Company’s Industry 12 2.5.6 Company’s growth rate 12 2.5.7 Some other arguments about Harvey Norman 12 2.6 Evidence of financial distress 13 Read MoreCorporate Finance1421 Words   |  6 Pagesoperating earnings of the firm. The capitalization is to be made at a rate appropriate to the risk class of the firm. Growth Plans, are involved in capital structural theories in which a certain amount will be allocated for the growth plans. A finance manager should draw a plan according for the dividend policy. For Example: The firm has $10 million as equity capital and $6 million as debt capital and the firm made a profit (after tax) of $2 million, and the fund allocated to the growth plan wasRead MoreCorporate Finance - Concept Questions12247 Words   |  49 Pagesquestions of corporate finance? a. Investment decision (capital budgeting): What long-term investment strategy should a firm adopt? b. Financing decision (capital structure): How much cash must be raised for the required investments? c. Short-term finance decision (working capital): How much short-term cash flow does company need to pay its bills. ( Describe capital structure. Capital structure is the mix of different securities used to finance a firms investmentsRead MoreFundamentals of Corporate Finance 9e82683 Words   |  331 Pageshttp://helpyoustudy.info Chapter 01 - Introduction to Corporate Finance Chapter 01 Introduction to Corporate Finance Answer Key Multiple Choice Questions 1. Which one of the following terms is defined as the management of a firm s long-term investments? A. working capital management B. financial allocation C. agency cost analysis D. capital budgeting E. capital structure Refer to section 1.1 AACSB: N/A Difficulty: Basic Learning Objective: 1-1 Section: 1.1 Topic: Capital budgeting Read MoreCorporate Business Finance 7343 Words   |  30 PagesCorporate Business Finance Seminar 5 Project Finance Lauren Leigh Essaram 207507339 Ruvimbo Mukorera 206525531 27 September 2010 Submitted in partial fulfilment of the duly performed requirement of International Business Finance, School of Economics and Finance, University of KwaZulu-Natal Abstract Non-recourse financing has grown in popularity, especially in developing countries. It has done so more specifically in the basic infrastructure, natural resources and also in the energyRead MoreAdvanced Corporate Finance4303 Words   |  18 PagesUniversity of Puget Sound School of Business and Leadership BUS 434 Advanced Corporate Finance Professor Alva Wright Butcher Tues-Thurs 11:00-12:20 McIntyre 107 Spring Semester 2012 Office: McIntyre 111 I Phone: 253-879-3349 FAX: 253-879-3156 Office Hours: T-Th: 1:00-1:50 Wed: 9:30-10:30 And by appointment Note that I am always willing to schedule additional office hours by appointment. I check email frequently, so that is also a goodRead MoreEssay Corporate Finance1613 Words   |  7 Pages Why is corporate finance important to all managers? Corporate finance is a specific area of finance dealing with the financial decisions corporations make and the tools as well as analyses used to make these decisions. The primary goal of corporate finance is to enhance corporate value, without taking excessive financial risks. A corporations managements primary responsibility is to maximize the shareholders wealth which translates to stock price maximization. Corporate finance provides

Nike s Quest For Success - 1525 Words

Winning Most Valuable Player of the NBA four times, two Olympic gold medals, and the NBA scoring title, LeBron James is known as one of the greatness athletes of all time. Although LeBron James has become the best of the best, being a famous athlete is not necessary in achieving greatness. Anyone is able to find greatness if they look and work for it. Nike’s â€Å"Find Your Greatness† ad campaign uses everyday athletes to attract people of all skill levels to become active and purchase their athletic gear for doing so. Nike launched their â€Å"Find Your Greatness† ad campaign during the 2012 Olympics in London; however, they chose not to focus on the Olympic athletes. They share stories of everyday athletes to show that greatness is not just for the top athletes and superstars, but also everyday people. The campaign grew to a new level once #findgreatness started trending on Twitter. Athletes all around the world were sharing their stories about finding greatnes s using this hashtag. Nike uses TV and web commercials, along with print ads, to publicize their â€Å"Find Your Greatness† campaign. The first commercial features an overweight teenage boy running down an open road. It starts with him appearing in the distance and he continues to become closer and closer to the camera as the video progresses. The boy is clearly putting a great amount of effort into his running and working hard to keep going, even though it is not easy. In addition to the boy running, there is a man’s voice inShow MoreRelatedNikes beginning history and success.1356 Words   |  6 PagesNike: The Beginnings The Nike Corporation originated from two sources, Bill Bowermans quest for lighter, more durable racing shoes for his Oregon runners, and Phil Knights search for a way to make a living without having to give up his love of athletics (Hincker 1). Their ideas and actions within Nike have radically changed the way sports, business, and popular cultures interact. This influence is seen best through the history of Nikes formation in its beginning years. The concept that wouldRead MoreNike1194 Words   |  5 PagesNike Case Analysis Prepared for Consumer Behavior Introduction Nike is the largest seller of athletic footwear and athletic apparel in the world with subsidiaries in over 200 countries across the world. It is a company that was founded by Phil Knight in the 1960’s, who was a talented middle-distance runner from Portland. He approached the Onitsuka Co. in Kobe, Japan, and persuaded the manufacturer of Tiger shoes to makeRead MoreValue Chain and Competitive Forces Essay1247 Words   |  5 PagesDeveloping a strategy to maintain sustainability, or as some novice management called it â€Å"maintain business viability† (Fromartz, S. (2009), is key to ensure long-term success. Better Place’s strategy is accruing a competitive advantage in removing a major barrier to the widespread adaption of electric cars by identifying favorable locations. Mini Case # 2 – Nike Nike had a unique challenge to overcome compliance over criticism of labor practices and capitalize on sustainability efforts. IdentifyingRead MoreInternal and External factors in Nike1985 Words   |  8 Pagesas globalization, technology, innovation, ethics and diversity. The successful application of the four management functions when dealing with these factors, impact the success and failures of Nike. According to DeCarlo (2008), Nike has made the rank of 419 out of 2000 on Forbes global 2000 list of the worlds biggest companies. Nike has dominated the shoe industry since they first started back in the 1960s and have yet to slow down. They have grown from selling shoes in the back of a trunk to sellingRead MorePepsi Analysis : Pepsi Cola Essay1481 Words   |  6 Pagesiteration of the Pepsi logo appeared (see figure 1) (â€Å"The History of Pepsi-Cola†). Around this time, many logos consisted of a scripture or an elaborate drawing. For example, Nokia’s earliest logo was a picture of a fish and IBM had a fancy â€Å"S.† Pepsi followed the trend with a scripture of its own but also adding an aggressive twist in the font. The font appeared thin while some parts of the character had two points sticking out on opposite sides. The logo looked extremely sharp as a resultRead MoreTiger Woods Case At The Age Of 201362 Words   |  6 PagesPlayer of the Year. According to ESPN Woods other golf accomplishments consisted of him winning 14 major golf tournament. Which included, 5 Master’s Tournaments, and 4 PGA Championships. After Tiger Woods first Master’s victory, he signed a deal with Nike. Woods signed a 5 year, $60-million-dollar contract to introduce their line of golf shoes and apparel bearing his name with the Tiger Woods signature logo (Jensen, 1997). Almost a decade later, Tiger had gained endorsements from companies such as GatoradeRead MoreUnder Armour Is Gaining Market Share And Challenging Nike2043 Words   |  9 Pages Abstract Under Armour is gaining market share and challenging Nike in the sports apparel industry. However, Under Armour is having major issues with inventory management and managing cost. Inventory cost has increased steadily over the past three years and is now at the point where it is out weighing revenue. UNDER ARMOUR: CHALLENGING NIKE IN SPORTS APPAREL 3 CASE DESCRIPTION Under Armour, Inc., was founded in1996, by Kevin Plank, by a former University of Maryland footballRead MoreLululemon Case Analysis Essay4336 Words   |  18 PagesLululemon An analysis of the key success factors within the yoga-inspired athletic apparel industry An evaluation of the driving forces of change within this industry An assessment of Lululemon Athletica Inc.’s current strategy An analysis of Lululemon Athletica Inc.’s strengths, weaknesses, opportunities, and threats A weighted competitive strength assessment of Lululemon Athletica Inc. and its two closest rivals in the industry An assessment of Lululemon Athletica Inc.’s competitive advantage AnRead MoreSports Drinks Industry Analysis2887 Words   |  12 PagesExecutive Summary We have noticed an increasing number of businesses catering to the recent rise of a new target market: the health-conscious consumer. At Nike, our goal has always been to give consumers what they want now, as well as to anticipate their future tastes, and to thus tailor our strategy to accommodate those tastes. We have recognized an unfilled market potential in the non-carbonated energizing sports drink arena, thus developing an entirely new product category. Our brandingRead MoreGolf Industry Competition1247 Words   |  5 PagesCase #3: COMPETITION IN THE GOLF EQUIPMENT INDUSTRY† From its earliest beginnings in the 1450’s, golf was a peculiar game that tested the individual skill of each person who played. It is a game that takes a player on a journey through a number of â€Å"greens.† The player must try to get the small, hard golf ball into the â€Å"green† or â€Å"putting green† which contains a hole in the ground. The player can only hit the ball with a golf club. Golf equipment, such as golf clubs, golf balls, and the like

Social And Emotional Intelligence Quotient - 1195 Words

Social and emotional intelligence refers to the quotient of competency one possesses in the areas of self-awareness and social awareness. With the ability to be crafted throughout the course of one’s life, SEI is a learned skill or cognitive skill. Thus, one can alter his/her social and emotional intelligence quotient (SEIQ), making it subject to either improvement or decline. SEI is divided into two separate categories of Intrapersonal and Interpersonal. The Intrapersonal category relates to one’s capacity to manage his/her own feelings and emotions. The interpersonal side refers to the discernment of the emotions and feelings of others. Social and Emotional Intelligence (SEI) is vital to one’s ability to understand, lead, and manage†¦show more content†¦Given the traits this quadrant was comprised of, I fully anticipated scoring highly in Other Awareness. On the other hand, I was slightly surprised that Self Management proved to be my weakest quadrant. However, I am by no means confused by this when I consider which traits brought that overall score down. That said, I do agree with my overall quadrant scores and can definitely see these score as an apt reflection of my personal strengths and weaknesses in these areas. Within the 26 individual trait scores, I gained a great deal of insight into what areas I excel in and what areas I should focus on improving. My highest scored traits were Empathy (15), Situational Awareness (14), Service Orientation (14), and Emotional Self-Awareness (14). Empathy is defined as the ability to sense the feelings and perspectives of other, whilst taking an active interest in their concerns (Institute for Social + Emotional Intelligence, 2015). This is an area that I know myself to be extremely strong in and thus figured on it being one of my highest scoring traits. The ability to be empathetic towards others comes very naturally to me, so much so that I have a tendency to overexert and exhaust myse lf frequently. Wanting to help, support, and understand others emotionally is an integral part of my personality and I very rarely experience difficulty in understanding someone on an emotional level. However, I sometimes go into emotionalShow MoreRelatedEmotional Intelligence And Personal Intelligence1571 Words   |  7 Pagesthe task to explain emotional intelligence, and give two (2) example of the concept. Second, to examine, the concept of â€Å"emotional quotient† compared to traditional â€Å"intelligence quotient.† Third to suggest two to three (2-3) reasons why leaders’ need emotional intelligence to manage today’s workforce, as well as to speculate on at least two (2) possible consequences should a leader not possess emotional intelligence. Fourth, to explore the elements of emotional intelligence that leaders must beRead MoreEmotional Intelligence And Psychological Intelligence1493 Words   |  6 Pagescalled â€Å"emotional intelligenceà ¢â‚¬  which puts you in tune with not only your emotions but the emotions of others as well. This paper will fully explain â€Å"emotional intelligence† along with examples of the concept, examine the theories of â€Å"emotional intelligence† compared to traditional â€Å"intelligence quotient†, suggest reasons why leaders’ need emotional intelligence in today’s workforce, speculate on the consequences when leaders do not possess emotional intelligence, explore elements of emotional intelligenceRead MoreEmotional Intelligence ( Eq ) And Emotional Quotient Essay1537 Words   |  7 PagesBobby Lindsey Mrs. Ehlers CollegeNow Comp 151 18 September 2016 Emotional Intelligence Many people ponder about the question â€Å"What is Emotional Intelligence (EI) or Emotional Quotient (EQ) and how is it different from Intelligence Quotient (IQ)?† Many people know about Intelligence Quotient or IQ and they probably hope to have a high one, but they may not realize there is also something called EQ and it plays a role in people’s lives every day. EQ is an important concept to learn and understandRead MoreEmotional Intelligence Performance And The World Of Academia Essay954 Words   |  4 PagesEmotional Intelligence Introduction Traditionally, the applicant with the higher Intelligence Quotients (IQs) places first in the employment arena. However, Human Resource Managers indicate that candidates with high IQs, but less than desirable Emotional Intelligence Quotient (EQ) may be questionable in job performance and the world of academia. The purpose of this paper is to define, discuss, and provide examples of emotional intelligence and theories significant to the subject. AdditionallyRead MoreEmotional Quotient1145 Words   |  5 PagesSTUDY SKILLS/PERSONAL DEVELOPMENT PORTOFOLIO EMOTIONAL INTELLIGENT By: Name: Andre Suryana Yahya Class: Dip15C Student No.: DipBA1509 Emotional quotient is the ability to sense, understand, and effectively apply the power of your emotions to build relationships compatibility (Estes, 2009). Emotional Intelligence is one of emotional quotient which is very important to allow us to be successful in managing our lives, environment, and the people around us since EQ will helps us to controlRead MoreEmotional Intelligence And Effective Leadership1107 Words   |  5 PagesEmotional Intelligence and Effective Leadership Emotional intelligence is defined as the ability to manage one’s emotions in an intelligent manner such that they do not affect the decision-making process. It is also the ability to understand other people emotions, to know the reason for their behaviors and thus be able to communicate with them (Mayer, 2006). Emotional intelligence involves one’s proficiency in realizing and then being able to behaviors, moods and impulses and thus managingRead MoreUnemployment And Underemployment Of College Graduates1072 Words   |  5 Pagesand African American’s unemployment rate showed higher than White (Shierholz et al., 2014, Para 4). The report indicated that less jobs required general intelligence associated intelligence quotient (Shierholz et al., 2014, Para 4). Employers may demand a new skill set. BUSINESS AND EMOTIONAL INTELLIGENCE Importance of Emotional Intelligence Demand for teaching college students with a new skill set has increased among college educators. Learning and developing hard skills such as technical andRead MoreEmotional Intelligence And Effective Leadership Essay1144 Words   |  5 PagesEmotional Intelligence and Effective Leadership The correlation between emotional intelligence (EI) and leadership skills is gaining interest among scholars and business leaders. These professionals are interested in determining how understanding and managing emotions of the self and others affects leadership skills. Moreover, scientists and business professionals are interested in understanding the elements of emotional intelligence. To this end, the concept of emotional intelligence integratesRead MoreLanguage Development Of Language And The Processing Speed1635 Words   |  7 PagesHowever, research rarely focuses on the parent’s emotional intelligence and how it has an effect on a child’s language growth. Emotions are defined as, â€Å"internal events that coordinate many psychological responses, cognitions, and conscious awareness† (Mayer et al., 1999 p.268). Yet, emotional intelligence is the ability to perceive, assimilate, understand, and manage emotions and helps guide thoughts and behaviors; for tunately, emotional intelligence develops with age (Mayer et al., 1999; SaloveyRead MoreCultural Intelligence607 Words   |  3 PagesWhat is cultural intelligence? â€Å"Cultural intelligence is a theory within management and organizational psychology which states that understanding the impact of an individual’s cultural background on their behavior is essential for effective business, and measuring an individual’s ability to engage successfully in any environment or social setting.† (Wikipedia) One’s cultural intelligence (or cultural quotient) includes three components that work together: cognitive, emotional, and physical. The

Segmentation and Targeting for the DSO Free Sample For Students

Questions: 1.Wirte a Research Report Profiling Market / Client Characteristics for an Organisation, Involving Segmentation Targeting from a Buyer Behaviour Perspective 2.Identify and Evaluate a Specific B2C Niche Customer Segment for the DSO Marketing Team to Focus on. 3.Identify and Describe a Specific B2B Niche Segment for the DSO Marketing team to Focus on.4.Acknowledge the Importance of Understanding Customer Behaviour to the Positioning Stage of the STP Process. Answers: 1.Segmentation and Targeting The Darwin Symphony Orchestra is a not-for-profit organization and comprises sixty-five musicians as volunteers and a small foundation of professionals, who works and lives within the Darwin community. The DSO had been establishing itself since 1989 and has become one of the most culturally important and diverse musical institution and reaches its audiences in every corner of the territory. It has an adventurous and impressive history in the Central and Western Australia (Hince et al. 2015). The company aims at gaining a larger audience from the international stage performances and concerts. DSO enticed the journalists from all across the corner that include the BBC magazine of music and other lovers of music to gather in worldwide performances. The soloists and the local musicians are the major target of the company to attract the customers. It also has represented a program that is diverse in nature and has incorporated all the tastes and style of the music. It has divided its segments from the indoor performances to the free family entertainment in the outdoor that caters to a large community of members. The orchestra has been hosting many leading musicians from all the genres like jazz to experts of didgeridoo in Australia (Orelus 2016). It has strong traditional behavior of championing the music of Australia and the director and the orchestra has made a continuous and conscious effort to the programs for each concerts or performance. DSO has targeted towards the collaborative efforts with the local and territory based institutions and organizations for offering of the unique or special opportunities for the engagement of the community with the symphony orchestra and comprising of the regular performances with the chorals, students and other music communities (Emmens 2016). It has a target of providing the music education in the schools and it has already been successful in reaching over 2000 schools from the inception in the territories of the country. It also focuses on providing the music to the resource and other challenged musicians and the public to receive free musical programs and perfecting themselves. Segment Evaluation As discussed above, DSO has an outreach towards the international and the territories in the country. There must be an effective evaluation along with an effective assessment of the segments as it is the most crucial and critical part for a company. The sustainability, measurability and ability of serving the other segments need to be considered. The DSOs market comprises of various segments comprising of both the B2B and B2C consumers (Hardy 2012). 2.The B2C segment identifies and includes the following: Live Performances: The customers are the centered and approached people, through the live performances held by the recognized and most appreciated musicians from all over the world. It is integral part for the business, as it reaches both the audiences and raises the income generated through the performances. Over nine million tickets are sold on an annual basis by the Live Performances for the live music and theatre performances resulting to an income of over $1.5 billion. Thus, the audiences prove to be creating an industry of live performances that is larger than the sector of television, video games and movies. The live music also supports employment facilities to around 15000 jobs, hence the attraction of these customers will affect the income of both company and public. Recorded and Digital Music- The modern age is digitalized and hence there is an increased emphasis on the live music and distribution of digital and recorded music. With the decrease in the recorded music sales, the company has adapted a rapid procedure for increasing its emphasis on the live performances and distribution of the digital music. Digital music formed by a conglomerate in the imaginative content sector, lists numerous digital services that caters to every experience in music, movies and television (Ball 2012). Media- The social media is an active scenario in the modern times and the companies are becoming recognized even more, with the advent of various social media procedures like face book, YouTube and other public reachable forms of media. Hence, the company must focus on attracting and appealing the customers for following them live and in both online and offline forms through numerous internet resources mentioned above. The customers i.e. the audiences must be guided through the websites and other pages formed by the company for the easy access to the customers. The page must be easy to apprehend and understood by the customers with various links provided all along the page (Waitt and Gibson 2013). Discounts and offers for promotions- DSO has a huge base of the customers and hence it can work towards attaining a greater amount of revenue through appealing the customers by attractive promotional strategies like discounts and concessions on bulk purchases or any particular criteria to be fulfilled for attractive deals and discounts. Aspiring Musicians: Many followers in schools and other places are not able to acquire the desirable position. Hence, through direct or indirect connections, one can acquire reputation and trust of a majority of public. Contemporary and Classical music are the broad categories of the music in the profession of Australia. They can be included in the schools and other centers for training and knowledge (Connolly 2015). 3.The B2B segment identifies and includes the following: Imaginative Capital Copyright Industries: Music is an integral contributor to the industries with the copyright of Australia. It provides employment to 8%of the labor force, which in turn generates an economic value of over $ 90 billion and increases over $10 billion from the exports. The impact of the digitalization in the modern age on many copyright industries that mostly include the books, music and journalists, has seen unenthusiastic growth in modern years with a seven percent fall from the years 1997 to 2011 in the country Australia. This makes available a commanding motive to construct fresh and effectual allotment methods sustained by firm frameworks of the policies and actions undertaken by the industry (Aquino 2016). Sponsorship: Various sponsors act as the business groups in carrying on the businesses and functions of the company. The sponsors attract the audiences through sponsoring of the brand name and the services offered by the company. The musicians earn a huge amount from the recordings and the sales of the recordings and thus their sponsorship is a great boon. The musicians are turning into partnerships with the sponsors for uplifting them as well as the sponsoring companies as a whole. The musicians huge a lot of income through the recordings and performances created by the sponsors. Even the small musicians get an augmented value with the help of the sponsors. The studies show that the festivals cannot be successful without an effective sponsorship. In South Australia, in the Southwest festival, Lady Gaga and their partners performed with many bands, which according to Lady Gaga was only possible through the sponsors. However, there have been many arguments against the saying that the sponsors are not the only reason but lastly all of them agree to the same. The sponsorships are helpful in bridging the gaps that have become evident from the sales of the CD and other less meaningful services of streaming music like the Radio and Spotify (Thomas and Thomas 2016). Touring: The tourism industry comes under the rescue of the musicians and the band performers of the orchestra to support and elucidate the talent of the company. There are various infrastructures provided by the tourism industries to attract the tourists and the funds attracted are given to the company in a manner contracted with the company. The tourist companies are provided particular license to continue the sponsoring of the brand in various centers located both locally and across the territories (Vahrenkamp and Kotzab 2012). The diversification is taking place with a wider approach to the digitalization and participation of the development and all the above are designed to above the broader audiences and engagement of the communities and sponsors for the generation of the sustainable incomes. B2C target The company must have a focus in extending its services i.e. creation of more bands and performances across the globe. It must diversify the musical industry to all the countries along with its native country. Although, it has been successful in managing the same, it needs to facilitate the diversification of the music. The company must focus on the recording companies and the artist organizers to increase the involvement in the touring, licensing, festivals and merchandising. There must be more events and festivals conducted to display their talents and increase the appreciation received from the audiences. The design of the plan and strategy must be appealing and easy to be apprehended by the customers i.e. both the audiences and musicians wanting to rise up high in the near future. The customers must be motivated and approached for extra funds to get them the best performance access. The Consumer behavior has a deep influence by the cultural factors that include the culture of buyers, subculture, and community class. The company must work towards understanding and approaching the audiences through understanding their culture and mental behavior. The social behavior has also a major influence on their decision-making process and hence they must be talked and discussed with. It should be done for the better implementation of the plans and strategies in the future (Solomon et al. 2012). The company must have a focus on the age and life cycle factors that include the influences caused by them. Music is loved by people of all ages and hence everyone comes under the active audience category. Still, the teenagers have a more attraction towards the music and modernized approach and hence, they must be approached and appealed for the, effectiveness and increment in the revenues and incomes (De Mooij 2013). The company must focus on the perception and sensational approach of the consumers towards the music and other organs introduced by the industry. The live performances create huge sensations and rise in the stimuli, which attract the customers for all the concerts and performances. Therefore, the company must focus on the ways to create the required sensations and lead the audiences towards its concerts and live performances. Learning is a change in the processes of thoughts that is caused by past and prior experience. Consumer learning may be an outcome from effects that marketers give and may be an outcome of the response or stimuli that have no connection with marketing. The advertisements must have a link with such past experiences and the irrelevant things must be removed while considering the strategies to be implemented by the company. There must be an effective relationship between the customers and the company for maintenance of their position and brand name and fame forever (Joy and Li 2012). Therefore, the company must consider the above beliefs and attitudes of the consumer to go through the strategy and implementation with great effortlessness and ease. Furthermore, the company must try to gather the required feedbacks from the audiences and other consumers for further efficiency and effectiveness in the implementation of the strategies (Alvesson 2012). B2B target The Businesses must focus on the business like the sponsorship and other touring and copyright facilities. To understand a buyer needs and understand the habits of the buyers and his main concerns is required to appreciate and be acquainted with the individuality of the buyer. Individuality indicates the internal emotional distinctiveness that reflects the manner in, which a person acts in response to his surroundings. Character shows the choices of an individual for a variety of products and brands. It assists in the marketers in making a decision when and in a manner to uphold the product. Character can be classified based on traits of individual, likes and dislikes (Sarker et al. 2013). Though qualities and traits of the buyers are stationary, it can alter owing to the major proceedings such as demise, beginning or wedding and can modify slowly but surely with time. By linking with the character distinctiveness of a human being, a vendor can expediently put together the advertising strategies. The traits are the features or characteristics of an individual or propensity of an individual in a specific manner. The traits help in defining the behavior and the traits must be known to make the buyers feel understood. The theory has a representation of the multiple personality theories, the assumptions must include the stability in the nature, and limited number is common to most of the buyers and the coinsurers (Finkelstein 2013). The buyers i.e. the sponsors must be convinced to uphold and upgrade the position of the company and its business process. Furthermore, the Self-concept is definite and defined as the way, which considers the preferences, beliefs, attitude and the opinions prearranged in a methodical manner and the way in which one should conduct oneself and react in a variety of roles of existence. Self-concept is a complex subject, as one can know the perceptive behavior of ones traits, psychology, and ability sometimes is a difficult process. The consumers acquire and make use of the products and services and support the retailers whose traits or imagery speak about in several way or additional to their individual self-imaginations (Barrick et al. 2013). Traditionally, individuals are considered to be having a single self-image which they normally exhibit. Such type of consumers is interested in those products and services, which match or satisfy these single selves. However, as the world became more and more complex, it has become more appropriate to think of consumers as having multiple selves. The self-concept in life is not a constant theory and it may alter with the instances that take position during the lifetime. When one faces different state of affairs and new confrontation in life, the insight towards belongings might revolutionize. One behaves accordingly to the things and situations and it is observed that self-concept is an incessant progress where one let go things that does not have a match to their self-concept and grasp on the things that one think are supportive in construction of ones positive awareness (Hsu et al. 2012). 4.Positioning customer behaviour The there positions of the customer behavior or the tools for the alignment of the products with right customers include segmentation, targeting and positioning. The fundamental principle is that each product or service proposes dissimilar value for unlike customers. For instance, if one is at a bank trying to get people to use an account or draw money from the bank, there can be different category of customers benefitting from that service. There can be various usage with respect to the different buyer groups that would require the production for different uses like the following: The kids of high schools might have the requirement of saving funds or building the credit and the college student might have the requirement of having the conveniences of ATM and other cards towards receiving the money from the family and the financial planning for the future and daily expenditures. The families involved in the relocation to different circumstances might need a new bank due to the nearness of a branch, supplementary ATMs and added local services, which the past bank had been lacking towards the customer (Lewis 2015). Thus, on the basis of the above, segmentationis the process of grouping the customers that is based on the need based on the demographics and the firmographics. Targetingis the procedure to market to a specific market segment in the industry Positioningis the expansion of value suggestion for a specific market segment in the industry (Marques et al. 2012) References Alvesson, M., 2012.Understanding organizational culture. Sage. Aquino, D., 2016. When Music Changes Lives.ReVista (Cambridge),15(2), p.32. Ball, P., 2012. Computer science: Algorithmic rapture.Nature,488(7412), pp.458-458. Barrick, M.R., Mount, M.K. and Li, N., 2013. The theory of purposeful work behavior: The role of personality, higher-order goals, and job characteristics.Academy of Management Review,38(1), pp.132-153. Connolly, C., 2015. Remembering Peter Sculthorpe (1929-2014).Miranda. Revue pluridisciplinaire du monde anglophone/Multidisciplinary peer-reviewed journal on the English-speaking world, (11). De Mooij, M., 2013.Global marketing and advertising: Understanding cultural paradoxes. Sage Publications. Emmens, M.K., 2016.Boys of the Maple Leaf(Doctoral dissertation, Old Dominion University). Finkelstein, J., 2013.The fashioned self. John Wiley Sons. Hardy, M.A., 2012.Defining community need through the lens of the elite: a history of the Indianapolis Foundation and its funding of the Indianapolis Symphony Orchestra, 1893-1984(Doctoral dissertation, Indiana University). Hince, B., Summerson, R. and Wiesel, A., 2015.Antarctica: Music, sounds and cultural connections. ANU Press. Hsu, C.L., Chang, K.C. and Chen, M.C., 2012. Flow experience and internet shopping behavior: Investigating the moderating effect of consumer characteristics.Systems Research and Behavioral Science,29(3), pp.317-332. Joy, A. and Li, E.P.H., 2012. Studying consumption behaviour through multiple lenses: An overview of consumer culture theory.Journal of Business Anthropology,1(1), pp.141-173. Lewis, D.M., 2015. Evolved individual differences: Advancing a condition-dependent model of personality.Personality and Individual Differences,84, pp.63-72. Marques, C.S., Ferreira, J.J., Gomes, D.N. and Gouveia Rodrigues, R., 2012. Entrepreneurship education: How psychological, demographic and behavioural factors predict the entrepreneurial intention.Education+ Training,54(8/9), pp.657-672. Orelus, P.W. ed., 2016.Language, Race, and Power in Schools: A Critical Discourse Analysis. Routledge. Sarker, S., Bose, T.K., Palit, M. and Haque, E., 2013. Influence of personality in buying consumer goodsA comparative study between neo-Freudian theories and trait theory based on Khulna region.International Journal of Business and Economics Research,2(3), pp.41-58. Solomon, M., Russell-Bennett, R. and Previte, J., 2012.Consumer behaviour. Pearson Higher Education AU. Thomas, R.J. and Thomas, R.J., 2016. Multistage market segmentation: an exploration of B2B segment alignment.Journal of Business Industrial Marketing,31(7), pp.821-834. Vahrenkamp, R. and Kotzab, H., 2012.Logistik: Management und Strategien. Walter de Gruyter. Waitt, G. and Gibson, C., 2013. The Spiral Gallery: non-market creativity and belonging in an Au

The German Way of War

Medicare essays

Medicare essays The publicly financed and universally accessible Canadian healthcare system has been a source of pride and delight to many Canadians since 1947, when Saskatchewan first adopted the policy of Medicare. In fact there was so much enthusiasm for publicly financed, universal healthcare that within 14 years, all 10 provinces and two territories had public insurance plans that provided comprehensive coverage for in-hospital care. (Health Canada) However over the past ten years, the perceived quality of health care has markedly decreased and an increasing number of Canadians are crying out for Medicare reform. The healthcare situation is perceived to have become so grave that in 2000, Ipsos-Reid surveyed Canadians on the state of Medicare: 78 percent of Canadians suggested that the system is in crisis. (Gratzer 18) Many Canadians find even the current level of service inadequate. Further, as the average age of Canadians increases, the cost of maintaining even todays level of service wil l undoubtedly increase. Most Canadians agree that some reform is in order, however the nature and extent of such reform remains a hotly debated subject. A question that arises in Medicare debates is: whether American-style privatization would be preferable to our publicly funded system? Advocates of the former view argue that the American brand of healthcare offers its users maximum flexibility (Gladwell and Gopnik 366) and that allowing the healthcare sector to be controlled by the market will solve its inefficiencies and will ultimately give you all the things markets give you: innovation. (Gladwell and Gopnik 368) Conversely, others argue that socialized medicine must continue to be maintained in its entirely, i.e. 100 per cent. One such advocate, Adam Gopnik, asserts that completely socialized medicine is the ideal system in part because users need not worry How much will th...

Infrindgment & others Essay Example | Topics and Well Written Essays - 750 words

Infrindgment & others - Essay Example A computer is a device that is meant to ease work as well as make data organized and easily accessible. In the developed countries, children are introduced to computers at a very tender age, and they use them for the rest of their lives and hence are hardly hit by the negative effects. Computers pose a risk of the user suffering from musculoskeletal disorders due to the repetitive poster and body movements one has while using the computer (Karavidas, Lim, and Katsikas, 2005, p.699). The continuous use of a computer can make on experience pain on the fingers and upper arm since these body parts are in action while using the computer. The repetitive use of the keyboard leads to inflammation in the carpal tunnel and hence causing a painful syndrome called the carpal tunnel syndrome (Saba, Pocklington  and Miller, 2008, p.66). Many people use the computer for prolonged hours which lead to there being little blood flow in the muscles. The body muscles do not contract and relax and hence an imbalance of blood flow in the muscles takes place which can cause pain on the muscles of the user. Computers are used while sitting and this body posture leads to complications with the back, neck and shoulders. Consistent and continuous use of the computer causes the back to ache due to poor blood flow and also causes the neck to ache due to maintaining one position for a long time. A computer user often has their arms folded at ninety degrees while typing and this position of the hand fatigues the shoulder very fast. The most common health risk of computers is eye and vision impairment due to the bright light that computers produce and the fact that the light is so close to the eyes. Continuous use of the computer makes the user have a blurred vision once they withdraw their eyes from the machine. The eyes have a tendency of getting fatigued and due to so much straining

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Business Models and Planning Chapter Questions - Assignment Example This saw poorly thought out business models become the downfalls of many dotcoms. On the other hand, however, business model is said to date back to the earliest days when business just begun and merely used to describe how a company generates it money. There is a variation in simplicity or complexity of a business model. For this case, business model can be either simple or very complex. Looking at an example of a business model, a restaurant’s business model is described as to make money through cooking and serving food to the hungry lot of customers. This is an example of a simple business model. A television’s business model may seem to be not clear as it is not very vivid how they make their money. Some make money through advertising for other companies while others get money by selling particular products. This makes this kind of business model to look very complex. 2. What does it mean to innovate the business model? Sometimes a business can reach a stage where it does not make any positive proceeds anymore. Mostly, this takes place at a stage in a business known as decline stage. At this point, the business has lost competition in the market to new entrants or aggressive competitors. The level of revenues has reduced and the business is nearing its end time of closure. To enable the business stay alive and regain its competitive edge so much that it makes profit once again and stimulate company growth, the management must reinvent the business. By this, new strategies must be put in place and all such strategies must be aimed at a major element which is customer satisfaction. This is process of business reinventing itself to regain competitive edge and improve business growth is what is known as business model innovation. When working on a business innovation model, the management needs to consider factors such as the weakness of the current business. This gives the management a point of action in order to improve competitive edge by working to

How Do Financially Distressed Companies Overcome Decline Economics Essay

How Do Financially Distressed Companies Overcome Decline Economics Essay The present paper analyzes the recovery process of 526 US firms facing an initial financial distress situation in order to determine the variables of influence on their final survival status. The proposed model of this recovery process implies that severity and reaction capability should be understood as initial conditions that will impose restrictions in the selection of strategies which will drive the performance during recovery, thus, determining the final resolution of long term financial distress process. We found that these variables have an impact on i) the ability of a company to overcome decline; ii) the efficiency of the selected strategies and iii) the results of these strategies on post-distress fit position. Keywords: Recovery process, financial distress, severity, Data Envelopment Analysis Introduction Every organization is inevitably exposed to ups and downs during its lifecycle (Krueger and Willard, 1991; Burbank, 2005) and failure is not a sudden event (Agarwal and Taffler, 2008). The ecological theory of organizations states that in a continuous process of firms, those who survive are better capable to compete. Kahl (2001) defines fittest firms as the ones that have greater chance to survive. In this way, the financial distress process should be understood as a selection mechanism by means of which good performers survive and bad performers do not. In this same line, Sheppard and Chowdhury (2005) consider that failure is a firms misalignment with its environment. Failure is a reversible process and not necessarily degenerative if the company is able to detect signs of underperformance and to achieve an effort in its economic performance. Firms facing a distressed financial situation usually share a series of common patterns which make it difficult to estimate a possible outcome of this situation (Barniv et al., 2002). Among the distressed firms, there are little divergences in the financial weakness indicators in the different failure processes (Ooghe and Prijcker, 2008). The dissimilarities between the failure stages and the turnaround effectiveness as well, become evident on the how quickly the indicators evolve and on the ability of the management to react when distress signals are detected. Ignoring these alert signals may lead to a continuous decline process which may end up in failure without even trying any recovery strategy (Burbank, 2005). Managing a crisis situation is a fundamental issue as it is not a spontaneous process. Moulton and Thomas (1993) affirm that the reorganizations during a financial distress situation are not a simple matter and the probability of a successful exit is very low. However, the percentage of firms that succeed in getting through decline cannot be disregarded. Barniv et al. (2002) found that 50% of the sample firms which filed bankruptcy from the Office of the General Council of SEC resolved their situation as emerged firms. One third of the financially distressed firms in Kahls (2001) study survived as independent companies. Moreover, Gonzà ¡lez-Bravo and Mecaj (2011) found that 22.5% of sample firms presenting a strong crisis situation were still active in the market 10 years later. Yet, we should consider that the exit from a difficult condition, as Moulton and Thomas (1993) sustain, is only the beginning of the story. Not all the successfully exiting firms manage to keep the new situa tion stable. For some firms, operating in a crisis situation constitutes their normal state of environment with crisis periods that can attenuate or loose up. Anyway, being able to maintain this kind of condition is also a manner to survive. In this sense, Kahl (2002) states that the financial distress should be considered a long term process that makes firms end up debilitated even after having recovered from decline. This weakness is observed in poor performance that inevitably may again drag the firms to a new financial distress situation. Hotchkiss (1995) attested that during the first five years after exiting a bankruptcy, 35 to 40% of firms show negative operating income and up to one third of the firms that manage to ease their distress through debt restructuring re-enter a financial distress situation a few years later. Several studies have shown that different factors may determine the exit from a crisis situation. These factors may have a direct influence on the recovery process or on the capacity of the company to develop appropriate redirection strategies. The initial severity degree is considered an important hurdle in implementing successful actions. In this line, Smith and Graves (2005) found that, among all variables of the study, severity and firm size were the only variables significantly important during a turnaround process. Other authors (Robbins and Pearce, 1992; Pearce and Robins, 1993; Harker and Harker, 1998) state that strategies oriented towards cost reduction and efficiency improvement were safe bets for a favorable outcome. However, Castrogiovani and Bruton (2000), Sudarsanam and Lai (2001) or Smith and Graves (2005) affirm that no positive relation could be found between certain strategies and successful outcome. These results indicate that severity, through its influence on th e selected strategy, could be an indirect factor in the turnaround process (Robbins and Pearce, 1992). More consensual results were obtained when stating that the performance in-distress is fundamental for the outcome of the difficult situation. In particular, it is observed that successful companies show better returns when compared to unsuccessful firms (Routledge and Gadene, 2000; Pearce and Doh, 2002; Kahl, 2001). The present paper analyzes the recovery process of 526 US firms facing an initial financial distress situation in order to determine the variables of influence on their final survival status. The proposed model of this recovery process states that severity and reaction capability should be understood as initial conditions that will impose restrictions in the selection of strategies which will drive the performance during recovery, thus, determining the final resolution of long term financial distress process. These variables have an impact on i) the ability of a company to overcome the difficult situation; ii) the efficiency of the selected strategies and iii) the results of these strategies on post-distress healthy position. The proposed model considers that final survival status measures the welfare quality of a firm based on its risk to re-enter in distress, so it discriminates well performers and best performers during the management of a crisis process. Overcoming a financial distress: Determinant factors Even though some weak crisis situations tend to show a natural evolution throughout the exit and may be solved by simply making routine decisions (Gonzà ¡lez-Bravo and Mecaj, 2011), recovery process is not a spontaneous event. The distressed firms will face a long term scenario involving a continuous effort of adaptation to the diverse situations through which a firm passes during the upturn. The effort invested in this process will allow the reestablishment of stakeholders trust, while the variables related to solvency and profitability gain stability (Burbank, 2005). Companies that do not have a long term orientation and just adopt patch strategies do not usually reach successful exits (Pretorius, 2008). However, certain initial conditions may affect the reaction capacity as well as the effectiveness of the measures taken by managers. Severity Similar to a disease process, the gravity of the initial crisis position not only conditions the measures to take but also their success possibilities. Firms that face worse starting situation need to make greater efforts. In this sense, Robbins and Pearce (1992) affirm that there exists a relationship between retrenchment strategies and performance in firms having a severe starting situation while this relationship is not observed in firms facing a weak crisis state. Although Smith and Graves (2005) indicate that the gravity of the starting situation is strongly associated with the probability of recovery, Kahl (2002) sustains that the financial distress diagnosis is an imperfect indicator of the economic feasibility of a firm. In the same line, Gonzà ¡lez-Bravo and Mecaj (2011) affirm that the severity of the initial situation, observed in widely accepted indicators, does not have to be a crucial factor in the outcome of the crisis. Perhaps, following Moulton and Thomas (1993), th e initial gravity status has an influence over the process of recovery more than on the final resolution. Thus, severity determines the rate of recuperation, so that the harder the severity, the greater the effort to react and the slower the process of healing the levels of solvency and profitability. This effort during the process, and not the starting situation, may be the main determinant of the final outcome. Moreover, solvency and profitability indicators such as continuous negative results, inability to generate income by means of operating activity, continuous solvency and/or liquidity problems or incapacity to generate cash flow which reflect problems in the health of the company, are widely accepted as measures of severity degree (Mutchler and Williams, 1990; Gilbert, Menon and Schwarz, 1990; Ponemon and Shick, 1991; Poston, Harmon and Gramlich, 1994; Geiger, Raghunandan and Rama, 1995; Raghunandan and Rama, 1995; Davydenko, 2007). Reaction capability The possible effect of severity on the initial state may be mitigated if the firm counts on appropriate resources which increase the probability of a successful recovery. The structural reaction capability may ease the recovery process to a safe position cushioning the possible actions to implement. The capacity to obtain additional funds or generate additional incomes to implement treatment strategies can soothe the prior pressure imposed by a deteriorated financial distress position. In this sense, Barker and Duhaime (1997) associate successful turnaround processes with increases in sales that make companies have more options to undertake change strategies. Similarly, Pearce and Doh (2002) affirm that firms in distress that used debt and supported their sales to improve profitability successfully solved their difficult situation. They also state that changes in activity and in leverage level are associated with different phases of a turnaround process. In turn, Jostarndt (2006) ide ntifies three factors which could be helpful to measure the risk of becoming financially troubled. An excessive leverage level, a poor firm performance, and an industry downturn may inhibit firms from obtaining the right amount of cash flow to operate normally. Firm operating performance trend dominates as the reason causing financial distress showing that a firm may fail but not only for financial reasons. This allows the author to consider an association between financial distress and economic distress. These results are comparable to the patterns evidenced by Gonzà ¡lez-Bravo and Mecaj (2011) when distressed firms with remarkable financial reaction capacity and/or a solid financial structure evolve mainly toward a healthy zone. However, concerning debt structure Kahl (2001) did not find evidence on if the debt level or the debt structure of a firm influences the final outcome of a crisis situation. Severity Status and Reaction Capability, as initial restrictions, could be moderated by firm size when considering the exit from a crisis situation (Moulton and Thomas, 1993; Barniv et al., 2002; Schutjens, 2002). Altman and Hotchkiss (2006) found that one of the most obvious factor that discriminates between firms that successfully restructure and those that liquidate, after being classified inside Chapter 11, was the firms size. Nevertheless, other works observe that this variable did not present any clear relation with the survival chance (Kahl, 2001; Ooghe and Prijcker, 2008). Possibly, firms size does not determine the final resolution of a distress situation but it influences the reaction capability to confront it, moderating /strengthening the drawbacks when additional support should be guaranteed and restructuring decision must be made. Performance in-distress Regardless of the initial state restrictions, the adopted strategies and the behavior of companies during a financial crisis are crucial for the exit process (Sun and Li, 2007). An inappropriate diagnosis of the firms weaknesses in order to act and react quickly may lead to a fast deterioration of the financial indicators (Barker and Duhaime, 1997). Beaver (1966) already stated that if a difficult situation was properly detected, measures that lead to an improved position could be taken, avoiding so a state of ultimate failure. A series of strategies and action plans should be implemented aiming to reduce the detected weaknesses of the company (Smith and Graves, 2005; Krueger and Willard, 1991, Robbins and Pearce, 1992; Pearce and Robbins, 1993; Arogyaswamy et al., 1995; Castrogiovanni and Bruton, 2000, Pearce and Doh, 2002 and Pretorius, 2008). The operating performance during the recovery process drives a successful evolutionary route towards a new healthy scenario (Kahl, 2001; Routledge and Gadenne, 2000). Improving efficiency through some actions like cost cutting and/or asset reduction is crucial in this sense, having a positive impact on firms performance despite the underlying weaknesses (Robbins and Pearce, 1992; Pearce and Robbins, 1993; Harker and Harker, 1998). Firms facing a distress situation and carrying out a retrenchment strategy are more likely to survive, even though the performance was statistically not greater than that of not retrenched firms (Castrogiovanni and Bruton, 2000). In this sense, Sudarsanam and Lai (2001) showed that the strategies applied by firms successfully recovering were not that different from the strategies applied by firms that did not recover. So, the implementation efficacy was the cause of these differences, even though more intensive restructuration was done by firms that could n ot redirect their situation. The effectiveness of efficiency oriented strategies is supported by the results showing that firms resolving a situation of financial distress are statistically more profitable than those who did not settle (Campbell, 1996; Routledge and Gadenne, 2000; Pearce and Doh, 2002). These authors found that operating efficiency was the only variable used in distinguishing successful turnarounds from unsuccessful ones that significantly persisted during the recovery process. Kahl (2001) also stated that, in-distress, operating performance has a strong positive relation with the survival prospect. In particular, the author shows that an improvement in the standard deviation of ROA during a crisis period can increase the survival probability up to 0.62. In the same line, Gonzà ¡lez-Bravo and Mecaj (2011) found evidence that the companies positioned in a safety zone, starting from a situation of failure status, are characterized by a strong managerial action measured by ROA ratio, generating fu rthermore higher operating cash flow. However, other authors such as Barniv et al. (2002) or Laitinen (1993) found that the ROA coefficients were statistically not significant in predicting the outcome of a crisis situation. The post-distress status The main objective of a firm facing a distress situation is to heal the crisis state. Some researches, oriented to modeling the variables that influence a recovery process, identify the final stage of this process when a firm objectively exits a failure situation emerging as an independent firm, leaving Chapter 11 classification or keeping a defined period of positive income (Smith and Graves, 2006; Barniv et al., 2002; Altman and Hotchkiss, 2006; Kahl, 2001). However, the accomplishment of this objective should have one necessary quality condition. The new post-failure position should be achieved in suitable conditions that would permit an appropriate and continuous growth and performance rate. A financial distress process could place a firm in a weak position, even if it had managed to solve its difficulties, inciting a poor performance that inevitably makes it enter again in an emergency situation (Kahl, 2002). If a firm does not emerge profitably in the restructuring phase, in order to achieve a long term success, the probability of a successful exit process is very low (Burbank, 2005). In this sense, Hotchkiss (1995) showed that up to one third of the firms that relieve their conditions by means of debt restructuring tend to go into a financial distress situation few years afterwards. With regard to post-distress position, Robbins and Pearce (1992) affirm that industry indicator variations should be considered in order to better identify the good performers or the exceptional good performers during turnaround. Despite of the assessment of Altman and Hotchkiss (2006) stating that the firms overcoming a Chapter 11 situation perform below firms of the same industry that di d not pass through that same situation, Kahl (2001) found that the post-distress operating performance of firms getting through a crisis situation is similar to the industry performance. The model of recovery When a firm is facing a distress situation and considering all the above analyzed dimensions, severity and reaction capability should be understood as initial conditions that will impose restrictions in selecting the strategies which will drive the performance during recovery, thus, determining the final resolution of long term financial distress process as shown in Figure 1. (Figure 1 here) The left side of the diagram gathers the initial determining factors to initiate the recovery process, outlining the firms ability to improve its future and overcome the difficult situation. Severity Status offers valuable information about the initial degree of gravity of a firms situation. This degree will condition the actions to be taken in a deteriorated situation and the possible outcome as well. Reaction Capability measures the firms capacity to apply such actions through: i) the possibility to obtain further resources without worsening its position, ii) the capacity of debt negotiation or iii) the ability to generate additional incomes which may facilitate the application of strategy changes. The right side of the above Figure 1 defines the final subsequent status of firms, once specific actions have been taken. Post-distress Status shows the effectiveness of the management effort in a crisis situation, not only because the firm solves the initial state, but also since the new position is reached evidencing a well performance to set a suitable continuity in the new balanced situation. Accordingly, Post-distress status assesses the quality of firms welfare accounting for the risk to re-entry into distress discriminating well performers and best performers in a crisis management process. In a distress context, a well-performer just achieves the objective (i.e. exiting the crisis situation) while best-performers are located in a new healthy scenario minimizing the likelihood to reenter in distress. Hence, considering the above model, the following hypotheses will be tested: H1: Severity degree of financially distressed firms is likely associated with the post distress status. H2: Reaction Capability of distressed firms is positively related to a fit final position after recovery process. H3: Performance in-distress is positively related with the welfare of the post distress status. H4: Retrenchment strategies have a positive influence on the outcome of a distressed situation. H5: Size of financially distressed companies is associated with the final position after recovery process. Methodology, sample and variables To test the hypothesis we use the financial data of US firms derived from the Compustat Database in an eight year period: 1993-2000 which is considered to be economically appropriate for the analysis. Smith and Graves (2005) affirm that in an economic expansion context distressed firms could easily perform a successful turnaround. Particularly, the US economy experienced an economic expansion during the analyzed period. According to the National Bureau of Economic Research (2001), a peak in business activity occurred in the U.S. economy in March 2001. A peak marks the end of an expansion and the beginning of a recession  [1]  . So, the year 2001 was marked by events like the Dot-Com Bubble, Stock Market Crash, the loss of investors confidence in the Stock Market or the emergence of corporate fraud and corporate governance. The September 11, 2001 attacks also, may have been an important factor in turning this decline in the economy into a recession. The financial data for the year s after 2000 would be, to a greater or lesser extent, influenced by all these external factors. From a total of 1721 companies that offer complete data in their financial statements during all years, only the ones that presented a crisis situation in the first year of analysis, 1993, were selected. We consider a crisis status as a variety of enterprise adversity situations that threaten the future viability of the company (Turetsky and Mcwewn, 2001; Graveline and Kikalari, 2008), which show some incapacity to generate resources and/or to fulfill the payment of debts in time. This incapacity can be transitory and of a major or minor gravity and it can be observed through a series of symptoms alerting that the health and the future of the company are at risk. Considering this general approach and following Gonzà ¡lez-Bravo and Mecaj (2011), we classify a firm as financially distressed if, in the first year of our analysis, it presented one or more of the following criteria: Negative Net Income, Negative Operating Income, Negative Retained Earnings, Negative Working Capital, Negative Cash Flow, Negative Operating Cash Flow and Negative Shareholders Equity. In agreement with Gilbert, Menon and Schwartz (1990), to prevent the selection of firms that only had a poor performance in t he starting year firms presenting merely a Negative Net Income for the year 1993 were not selected. This criterion made possible that poor performers were selected only when they also showed a continued instable situation such as losses in previous years or solvency problems. As a result, our study is performed on a total of 526 companies that satisfied all the previous conditions. Table 1 shows the principal features of the analyzed sample. (Table 1 here) The number of observed symptoms permits an objective a priori classification based on the gravity of the starting situation. A firm would experience a weak crisis if it presents three or less criteria and, on the contrary, a strong crisis if it shows 4 or more. Following this further, in the first year of the analysis 77.38% of the firms encounter a weak crisis while 22.62% are facing a situation of strong crisis. Variables Severity Status, Reaction Capability and Fitness Status, as representative indicators of post-distress position, in the above proposed model (Figure 1) are built by gathering information given by some individual variable-indicators according to the features evaluated. The complete picture integrating the model and variables is showed in Figure 2. (Figure 2 here) Severity status (SEV_STAT) should be understood as an index assessing the degree of severity distress by seven financial ratios. These ratios correspond to the 7 symptom-indicators used to classify a firm as being in financial distress previously described, all divided by Total Assets in order to eliminate the size effect. Ratios such as: Net Income/Total Assets, EBIT/Total Assets and Retained Earnings/Total assets, representatives of the economic performance, are also commonly used to determine the existence of a decline phase in turnaround and recovery research (Pearce and Robins, 1993; Arogyaswamy et al., 1995; Smith and Graves, 2005). Negative Operating Cash Flow is also an indicator of liquidity deterioration and of financial distress probability (Anandarajan et al. 2001; Bell and Tabor, 1991; John, 1993). These seven indicators should be considered in a negative direction with respect to financial distress. That is, the lower value of the indicators, the worse the starting situ ation of the firm. In the same way, the more the number of negative indicators in a firm, the higher the crisis severity degree will be. Reaction capability is evaluated through three indicators: Sales/Total Assets (TURNOV), Shareholders Equity/Total Liabilities (FIN_AUT) and Current Assets/Current Liabilities (SOLV). The first one reflects the capacity of the company to enhance profitability while the other two indicators are linked to the financial structure of a firm and enable us to value its self-sufficiency and solvency. Together, these three variables measure the capacity of a firm to obtain external and additional funds or to reorganize its debts, the short term response capacity and the ability to generate resources. Fitness status (FIT_STAT) is defined as an index measuring the final health position on an objective and on a quality base as well, by means of 4 variables. Final Position is a categorical variable which indicates the existence or not of a crisis situation, when the firm still presents any symptom of distress. This variable takes value 0 if the firm exits successfully and doesnt present distress signals or value 1 otherwise. Additionally, to measure the health quality of this position, we follow the approach of Jostarndt (2006) when he identifies three factors that could cause financial distress: excessive leverage, a poor firm-specific operating performance and an industry downturn. These factors could be interpreted as indicators of the incapacity of a firm to generate cash flow which may influence a continuous economic and financial deterioration. The variables are defined as follows: (For further details on all variables calculation refer to Appendix B): Debt payment level: it permits the evaluation of the effects that a higher debt level of a firm has on cash flow generation, with respect to the industry where it operates. It indicates the level of interest payment the firm is paying compared to the median of the sector. If the level is above the median, the firm is paying more than other firms, so it should reduce it. Firm Performance: It measures the effects that a poor performance, lower than the median of the industry, has on cash flow generation. It measures the operating income of a firm compared to the median of the sector. It indicates if the firm is performing above or below the median of the sector. Sector performance: it allows analyzing to what extent the trend of the performance of the sector where the firm operates influences its capacity to generate cash flow if it behaved as the industry average. This item measures the improvement or the deterioration of a sectors performance, compared to its performance the year before. These three variables measure the risk of distress which could be the consequence of leverage problems or economic issues, including the downturn of the industry. The former three defined ratio-indicators should be understood in a negative sense, thus, the higher the three ratios are, the worse the quality position of the firm and the greater the probability of financial distress. Therefore, Fitness Status variable measures the position of a firm t years after the financial distress has been detected, allowing to evaluate the performance in managing a difficult situation. Severity Status and Fitness Status indexes could be interpreted as two composite indicators gathering the information of 7 and 3 individual ratios, respectively. To overcome some of the drawbacks of aggregated indexes, such as the degree of subjectivity in attribution of weights to each individual component (Munda, 2005; Messer et al., 2006; Munda and Nardo, 2009; Ramzan et al., 2008), we decided to use Data Envelopment analysis to summarize the complex information in just one index (Nardo et al., 2005a; Cherchye et al. 2008; Dyckhoff and Allen, 2001). DEA is a non-parametric performance measurement technique, based on a productivity approach, widely used to evaluate the relative efficiency of Decision Making Units (Cooper et al., 1999; Seiford, 1997; Gattoufi et al. 2004; Sherman and Zhu, 2006). However, this methodology has also been used to create indexes combining different components by means of an optimization process, when the structure of weights of these components is not kn own, and without making any assumption concerning the internal operations of a DMU (Cherchye et al., 2006; Zhu, 2000 and 2001; Puig-Junoy, 1998; Sexton and Lewis, 2003). Thus, both Severity Status and Fitness Status scores are obtained applying a DEA model without explicit inputs, called DEA-WEI models by Liu et al. (2011). This formulation, discussed by Lovell and Pastor (1999), considering a model with only outputs and a single constant input, has been used by Chen (2002) and Cooper et al. (2009), and it is similar to other approaches as DEA-R (Despic et al., 2007) or DEA-Index composite (Cherchye et al. 2008). Fitness Status use as DEA variables a series of indicators that measure negative features of a firm and they are also linked to the possibility of presenting a marked financial distress situation. This consideration is in agreement with the called pessimistic DEA approach, where the efficiency frontier contains, using Azizi and Ajirlu (2011) terminology, the worst-practisers as efficient in being poor-performers. In this way, DMUs scoring unity or close to unity levels will be the ones with higher degree of severity in their financial distressed situation. Furthermore, Fitness Score DEA manages a categorical variable Final Status indicating the existence or not of distress symptoms. In this sense we follow the approach of Banker and Morey (1986) concerning the treatment of exogenously fixed data. To measure the strategies and the behavior of firms during distress, profitability and downsizing actions have been included in the analysis. With regard to profitability, we use ROA in the last year of the analysis (ROA) and the average of its variations in the previous years (ROA_AVG) to measure the impact of efficiency oriented strategies to the final post-distress position. Concerning downsizing actions, variations in total assets during previous year are included to measure the impact of retrenchment strategies (RET_STG) Finally, to control the size effect (SIZE), natural logarithm of sales [ln(sales)] is included in the analysis in order to assess the influence of size on the possibility to return on a healthy scenario. Methodology The DEA score Fitness Status will be treated as a dependent variable in order to analyze to what extent post-failure position could be explained by issues such as severity, reaction capability or certain strategies implemented by the firms. Many different approaches can be found in the literature when a DEA score is used as a dependent variable of a regression to relate efficiency to the factors and study their influence on the former. The consideration of the DEA score as a censored variable (showing values between zero and unity) has been the argument for using regression censored models such as Tobit. On the other hand, Mancebà ³n and Molinero (2000) do not share this opinion and affirm that efficiency takes natural limits of zero and one and they estimate a model of the log type to explain inefficiency. In the same line, Puig-Junoy (1998) considers that DEA scores do not fit the theory of sampling censoring for Tobit models explaining inefficiency by a multiplicativ

Free College Essays - Eliezer Wiesels Night :: Eliezer Wiesel Night Essays

Eliezer Wiesel's Night      Ã‚  Ã‚  Ã‚   The Book Night was the autobiography of Eliezer Wiesel.   This was a horrible and sobering tale of his life story.   The story takes place in Sighet, Translyvania.   It's the year 1941 and World War II is occurring. Eliezer was 12 at this time and wasn't really aware of what was occurring in the world concerning the Jewish people.   He had a friend who went by the name Moshe the Beadle.   Moshe was very good friend of Elezers'.      Ã‚  Ã‚  Ã‚   One day it was ordered that all foreign Jews in Sighet be deported by German troops.   They were told they had to wear yellow stars to identify themselves.   Eliezers friends Moshe was also a foreign Jew, which meant he had to be deported.   Eliezer did not see his friend Moshe for months.   When he finally saw him, Moshe was weeping.   Eliezer asked him what was wrong. Moshe told him he was in a concentration camp.   He said they threw him in a pit and shot his leg, but he managed to escape to worn him to flee for his life.   Eliezer didn't listen to him anyway.      Ã‚  Ã‚  Ã‚   About three days later, German troops entered Sighet.   They order the people of Sighet to surrender to them or die.   The people surrendered and had to give up all their possessions.   Moshe was right, it did happen.   All the people of Sighet were jammed into train cars and shipped to the concentration camp of Aushcwitz.   At that point Eliezer was separated from his family forever with the exception of his father.   There was a large crematory in Aushcwitz.   You could smell the burning flesh in the air. Eliezer was ordered to the crematory.   He came within two paces of it, but then was ordered to the barracks.   He was saved for that night only.   After that incident, he lived with fear of when was he going to die.      Ã‚  Ã‚  Ã‚   Eliezer later went to other concentration camps in Bakenau and Buna. During these years in the camps he lived through great suffering. Starvation, and survival.   He also witnesses thousands of people die and murdered including his own father.   Eliezer was finally shipped to Buchenwald.   Which would end up being his last stay at any concentration camp.   It was now the year 1945 and this ordeal was finally over.

Disposal of Toxic Waste

A waste is considered toxic or hazardous if it threatens the health of the people and the destruction of the environment. The waste may be in any form and may be considered toxic even upon its storage. A more distinct characteristic of a toxic waste is given by U. S. Environmental Protection Agency (EPA). These are ignitability, corrosivity, reactivity and toxicity. Ignitability is characterized by the ability of the waste to create or catch fire. Not only is the waste needed to be able to start fire, but even to just catch it and spread it that it is considered to possess this characteristic.On the other hand, it fells under corrosive if it has the capacity to cause rusting to metal substances. Usually, these wastes are categorized to acids or bases. A substance with pH level with less than or equal to 2, or greater than or equal to 12. 5 is corrosive. Substances under this category are acids or bases that have the ability to harm the environment due to its high acidic and basic pro perties. Reactivity is described as instability under â€Å"normal† conditions. This means that without any special treatment or mixture with other substance, the waste has the tendency to explode or emit hazardous cyanide or sulfide gas.The last characteristic is proven when there is fatal consequence of its ingestion or absorption. A fatal consequence may be a severe illness, discomfort or even death. Depending on this consequence, the waste can be further classified as carcinogenic, mutagenic, or teratogenic according to the EnviroFacts. If it caused the development of cancerous cells in the body of the victim, it is considered carcinogenic. On the other hand, if its ingestion results to damage in chromosome of the victim, it is considered mutagenic.Lastly, if the victim is an expectant mother and the contact with the toxic waste affected the baby even before its birth, then the waste is teratogenic. The procedure that is being used in identifying and determining the toxic ity of the substance (or what is known to as EPA) is Toxicity Characteristic Leaching Procedure (TCLP). If the toxicity of the waste affects the plants or animals, it is bioaccumulative, that is, the plants or animals which are active parts of the food chain can infect other organisms.The characteristics above need not be fully applicable to the whole material for it to be considered a toxic waste. A small presence of toxic substance in a waste is enough for the latter to be toxic. Even if it is mixture or residue, it is still considered toxic waste. Hazardous wastes are usually by-products of different industries and commercial entities. Biological processes can also create a toxic waste. Even households can be held liable for the continuous increase of toxic wastes in the world. Hospitals also have its contribution, as well as the military. As such, the U. S.Environmental Protection Agency or EPA provides a categorization of toxic wastes based from the source. Differences in sourc e gives different kinds of wastes, and hence, treatments and means of disposal. According to the EPA website, hazardous wastes may belong to the F-list, K-list or P-list and U-list. The wastes belonging to the F-list are the most common among industries especially those engaging to manufacturing. Since there are numerous of this in a state, this list is also called the non-specific source wastes. These include solvents and other substances used for cleaning or degreasing purposes.If the industry that served as source for the waste is easily identifiable such as oil company or petroleum refining company, the wastes they produce belong to the K-list or the source-specific wastes. Lastly, discarded commercial chemical products belong to the P-list and U-list. Medicines and pesticides belong to this group. Toxic substances have the capacity to contaminate air, land and water. In effect, all organisms that interact or have contact with these can also be victims of the hazardous effects t hese substances bring.As such, government agencies and different organizations designed ways for these materials to be treated and disposed. According to the EnviroFacts site, there is really no completely safe way to treat these kinds of wastes. Land disposal, incineration and chemical or biological treatment were just the safe ways to solve the problem. Land disposal means dumping the waste in a selected area called landfills. These must be far from settlers, animals or humans alike and must be permanently sealed. Seals can either be plastic or clay. A concrete wall can also be built to enclose the garbage.However, these wastes can still penetrate the ground and eventually mix with the ground water. Some substances that oxidize can also affect the air causing illness or hazard to any organism. EnviroFacts also suggest incineration. This is burning the waste in either low or high temperature. In this process, the wastes are confined and are burned. This is highly preferred for hosp ital wastes. However, large caution must be taken in using this method. Several substances may produce highly toxic gases when burnt. For instance, lead or arsenic is released in the air when old painted surfaces are burned.Chlorinated hydrocarbons on the other hand produce hydrochloric acid and dioxins. Even solid by-products of this process that are left in the incinerators must be treated as hazardous as well. Lastly, certain chemicals or bacteria are added to the waste to lessen its toxins. Bacteria are believed to â€Å"eat† the toxins in the material, making it lesser hazardous. Water is used in the United States to treat hazardous wastes. Sulfuric acid wastes, if not recycled, can be treated with ammonia wastes from the same plant, forming ammonium sulfate, a fertilizer (Encarta Encyclopedia, 2007).Another treatment for the wastes is solidification. In this process, the waste is melted and then mixed with binder for it to huge solid mass. This process is widely used fo r radioactive wastes. Specific types of wastes require specific treatment. Lack of knowledge regarding this often leads to more trouble and danger. Caroline Black and Chris Stavroudis presented several ways for treatments and disposal of certain wastes and gave precautionary measures in dealing with them. In their article Hazardous Waste Disposal, they started with the solvents.These are highly corrosive materials that may include paints, oils or polymer residues. These must be kept in glass jars and not in metal containers to avoid rusting. If what is left to dispose is only a small amount, it can be allowed to evaporate. However, it must not be disposed on sinks and water pipes. This rule does not exempt water-soluble substances. When these accumulate in water pipe, it may cause fire or explosion. Since detergents are widely used in household, it is important to know that this is the only toxic substance allowed to be disposed of in the drain.Unlike solvents, there is no tendency to accumulate flammable vapors that pose threat of explosion in the detergents. However, the triethanolamine is exempted from this. This particular substance must be treated as a solvent (Black C. and C. Stavroudis). For alkali and acids, the first thing that has to be done before treating or disposing it is the presence of a heavy metal like mercury, copper, zinc or cadmium. If any of this is a component of the waste, it must be put in a container and be removed with the help of the authorities. It must not be disposed in the sewer system.Otherwise, the acid and alkali can be neutralized with the use of vinegar and baking soda, respectively. Then, they can be disposed in the drain with the aid of plenty of water. Ether, being a highly flammable substance must be treated with utmost care. It must be kept in a metal jar, not a glass one, to reduce the formation of peroxide. Upon using ether, there must be no fire that is near. Even a lit cigarette can ignite fire. If the ether was ke pt beyond three months, it must be surrendered to bomb squads because it has higher tendency of exploding (Black C.  and C. Stavroudis).While several chemicals can be used to neutralize and treat some toxic substances, there are some which can aggravate the problem than minimize it. For one, acids and alkalis must be kept separated, as well as solvents and known flammable substances(Black C. and C. Stavroudis). Because toxic waste disposal has been a long-running problem, countries have long tried different measures to address this problem. However, the process of treating and disposing the wastes are too costly and not to mention health-threatening.Even if there are ways to treat it in landfills or special sites, it is difficult to find a place where dumpsites could be established. And so, rich nations opt to bring them to the Third World nations in exchange for several billions of dollars or so. These Third World Nations, driven by their need for funds for their own development oftentimes accept these offers, discounting the threat it pose. This act increases the problem. The shipment of toxic wastes is usually by means of cargoes or ships. The tendency of spilling the wastes in its way to its destination is high.Also, the recipient nations do not usually have enough facilities and technologies to treat the wastes properly. This result to a larger threat for the people and the environment of the receiving nation. Also, landfills and dumpsites are usually inhabited by slums and squatters, ignoring the huge possibility of acquiring illness. Although several nations already realized the adverse effects of accepting wastes from other nations, still, there are some which continues to be the garbage bag of the richer nations. However, it is very essential to say that this act do not solve the problem.It just moves it. It is like passing the burden to the other. Through time, much legislation has been passed to address the issue of proper waste, especially toxic wastes, management. However, the main concern is their treatment and disposal. But the catch is there is no completely safe way to do this. One way or another, the waste would still affect the land, the water, and the air. And so, to really address this problem which started with the existence of these waste materials, the control must be put on the production and manufacturing of this highly toxic substances.The industries must find alternatives to their existing materials to find them less toxic. Further studies may also be concluded to improve the sewer system. Recycling and reusing had also been the longest running advice to minimize the waste. The problem on waste disposal must be addressed right down to its roots. It is not just the duty of the government officials, or the environmentalists, but rather, it is the duty of everyone. It might not be realized, but everyday is an opportunity to change the situation.