Accounting Standards Of An Economy - 2023 Words

INTRODUCTION Guidelines are needed in every sector of an economy, firm and even households to prevent and control unethical practices. Therefore, financial reporting is not LEFTOUT as standards of authentication are set; these accounting standards play vital roles in the direct and effective functioning of businesses and capital markets. They provide shareholders, other users and the general public of financial information with key elements of a company’s financial control and systems which have been reported and assessed on. Its key objective is to standardize general accounting practices globally, ensuring fair and accurate reporting of financial statements. The different sets of standards used in the accounting world depend on the business type or firm and its area of location. They include the Generally Accepted Accounting Principles (GAAP) which was developed by the Financial Accounting Standards Boards (FASB), the GAAP are used essentially by public traded and private companies in th e United States to watch over and protect the public’s interest. The items covered by the GAAP are revenue recognition, outstanding share measurements and classification of balance sheet items. The International Financial Reporting Standards (IRFS) developed by the International Accounting Standards Board (IASB), the IRFS are devised to eliminate disparities and to serve as a common accounting language in financial reporting documents for businesses operations that run through globally andShow MoreRelatedShould China Adopt International Accounting Standards?.1532 Words   |  7 PagesInternational Accounting Standards? The International Accounting Standards Board (IASB) issued and developed the new International Financial Reporting Standards (IFRS) as new international accounting standards after 2001. In 2006, the Chinese government issued a new set of Accounting Standards for Business Enterprises (ASBE) which are substantially consistent with IFRS. As mentioned in the scholarly article of Li and Sun (2011), there are some primary differences between Chinese accounting standards andRead MoreAccounting Theorist Economist Recommending1112 Words   |  5 PagesHI6026 Memo 01 –T02, 2015 Memo To: Mr Tu Dewey From: Mrs. Jaya Jawalkar (Student ID: DC2369) cc: Mr. Safayet Hossen Date: September 14, 2015 Re: Accounting Theorist Economist recommending to deregulate GPFR This memo is in response to Mr. Dewey’s concern regarding large businesses asking for discount in their audit fees many positivist accounting theorists and right-wing economists recommend that general purpose financial statements (GPFS) be deregulated because they think that market forcesRead MoreFinancial Management Coursework1694 Words   |  7 Pages Grade Awarded___________ For Office Use Only__________ Final Grade_________ Moderation required: yes/no Tutor______________________ Date _______________ Topic 4: Economic consequences of adoption of the International Financial Reporting Standards (IFRS) 000744245 Thi Hoai Ly Dinh 000745588 Phuong Thao Nguyen 000748773 Adjoba Houra Content Page Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.4 Mandatory IFRS adoption’s impact on analysts forecasts†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5 Read MoreCurrent Financial Reporting Standards On The Workplace Essay1744 Words   |  7 PagesCurrent Financial Reporting Issues It is incontestable that international financial reporting standards (IFRS) are in vogue and global conformity theoretically on the doorstep as about 100 countries implement standard financial regulations. The idea that uniform reporting standards have the same effect on financial reporting undervalues the contested ability to be flexible in financial reporting and introduces another level of debate on the issue of flexibility and uniformity. Apart from the factRead MoreIntroduction To Australian Accounting Standards Board1043 Words   |  5 Pages Accounting Abstract Accounting has been playing a very important role in many places such as Australian accounting standards. Australian accounting standards is also developed by the Australian Accounting Standards Board (AASB). This essay will firstly discuss what AASB is, the role and the functions of AASB. And then, following this, the other projects’ role such as Financial Reporting Council (FRC) and International Accounting Standards Board (IASB) and the relationship between AASB, FRC andRead MoreInternational Convergence Of Accounting Standards1494 Words   |  6 Pagesconvergence of accounting standards has risen since the end of World War II, resulting to the revolution of financial reporting. â€Å"IFRS for example are accounting standards issued by the IASB, an independent organisation based in London, UK† (Ball, 2006). IASB is primarily established to promulgate IFRS and are responsible to set rules that can be equivalently implemented by public companies internationally. Unif orm accounting standards are simply demanded in order to produce a comparable accounting informationRead MoreThe International Accounting Standards Board1603 Words   |  7 PagesInternational Accounting Standards Boards (IASB) and the Financial Accounting Standards Board (FASB) are making an effort to converge to develop International Financial Reporting Standards (IFRS) by gathering accounting standards that can be used in financial reporting whether it is in the home country or in the host country. Both the International Accounting Standards Board and the US FASB have proven to be vital promoters of the globalization of international financial accounting standards (Kirsch,Read MoreInternational Financial Reporting Standards On The Workplace Essay1740 Words   |  7 PagesIt is incontestable that international financial reporting standards (IFRS) are in vogue and global conformity theoretically on the doorstep as about 100 countries implement standard financial regulations. The idea that uniform reporting standards have the same effect on financial reporting undervalues the contested ability to be flexible in financial reporting and introduces another level of debate on the issue of flexibility and uniformity. Apart from the fact that the merits of flexibility areRead MoreGlobalization And Convergence Of Us.gaap Ifrs Standard As Prescribed By The Security And Exchange Commission ( Sec )1120 Words   |  5 Pages– IFRS Standard as prescribed by the Security and Exchange Commission (SEC) for users that set up financial statements in accordance with IFRS as issued by IASB. This followed would lead to a worldwide adoption of IFRS over the next few years. In his work, Barry (2009, p.26-27) states, â€Å"The advantage of a single set of financial reporting standards are manifest, particularly as internationalization of business activities became the norm. In particular, having uniform, high quality standards has beenRead MoreContribution Of Accountancy On Sustainable Development1485 Words   |  6 Pages FINANCIAL ACCOUNTING THEORY | BBAC502 Group Assignment â€Æ' Topic # 1 CONTRIBUTION OF ACCOUNTANCY IN SUSTAINABLE DEVELOPMENT â€Å"Bookkeepers will spare the world†, said Peter Bakker, the Chief Executive of of the World Business Council for Sustainable Development. The idea of sustainability includes working in a way that assesses an association s effects on the planet, its kin and what has to come. A developing number of bookkeeping scholastics have been looking

The Employment Non Discrimination Act - 904 Words

The Employment Non-Discrimination Act (ENDA) is legislation proposed in the United States Congress from the mid 1990’s and finally became law in 2013. This law prohibits discrimination in hiring and employment on the basis of sexual orientation or gender identity by employers with at least 15 employees. Those which favored the law intend it to address cases where gay, lesbian, and bisexual and transgender (GLBT) employees have been discriminated against by their employers because of their sexual orientation of gender identity (Raghavan,2013). Employees were not able to find protection under the law and not seen as a suspect class by the federal courts and appropriate as the United States Constitution guarantees equal protection and due process to all (Wiki, 2013) Those who favored the law firmly believe that people should be judged by their work and not by unrelated factors. Not everyone say the law as necessary and voted against it (Raghavan, 2013). The American Family Association (AFA) and others who apposed the bill felt the bill would discriminate against religious organizations and education systems. The Untied States Conference of Catholic Bishops went further with their claims as they saw the bill as to be â€Å"lacking and affirming of extra material conduct, re defining of marriage †¦..threatening of religious liberty’s and punishing some organizations, but not all. Clearly there are those who have litigated, Burwell v. Hobby Lobby Stores, Inc. and have found to beShow MoreRelatedThe Proposal Of The Employment Non Discrimination Act1551 Words   |  7 Pages The proposal of the Employment Non-discrimination Act by the American Congress has attracted the warm attention that most victims of sexual-oriented and gender-based discrimination wished dawned on their fellow citizens. This arises from the prevalent cases of reported discrimination in the workplace today, implying a modern society, yet to discharge the traditional perception of prejudice. It emerges amidst the outcry to free the workplace elements of discrimination, still locking out a crop ofRead MoreOn the Employment Non-Discrimination Act Essay610 Words   |  3 Pagesâ€Å"US Bishops oppose Employment non-discrimination Act; Say it punishes disapproval of conduct; three chairmen of the United States Conference of Catholic Bishops have criticized the Lesbian, Gay, Bisexual, and Transgendered; backed Employment Non-Discrimination Act (ENDA) of 2013, which was passed on Thursday by the United Senate, arguing that it punishes those who show a disapproval of same-sex sexual condu ct. â€Å"Our dignity as children of God extends to our sexuality. Being a male or a female isRead MoreA Brief Note On Employment Non Discrimination Act2185 Words   |  9 PagesEmployment Non-Discrimination Act Researchers show that anywhere from 15% to 43% percent of LGBT have encountered some variety of unfairness and harassment in the workplace (Center Progress, 2011). Further, 8 % to 17 % of LGBT state being passed over for employment or fired due to their sexual orientation. Ten percent to 28 percent experienced a negative performance review or were overlooked for a promotion due to being gay. Moreover, 7 % to 41 % of gays faced harassment, abuse, or antigay vandalismRead MoreThe Employment Non-Discrimination Act of 2009—Ensuring Equality in the Workplace for Gay, Lesbian, Bisexual and Transgender Workers1485 Words   |  6 Pagesthe US, it is legal to fire an employee for being gay, lesbian or bisexual. 38 States in the Union have no laws on record preventing discrimination against gender identity or expression—commonly known as transgender. While these statistics may be disheartening for many gay, lesbian, bisexual, and transgender (GLBT) individuals, it is not all do om and gloom. Employment protections and rights for GLBTs have grown exponentially in the past two decades. Fortune 500 companies have helped lead the chargeRead MoreHcs430 Employees Handbook Essay1732 Words   |  7 PagesEmployee Handbook Non-Discrimination XXX HCS/430 – Legal Issues in Health Care: Regulations and Compliance University of Phoenix CERTIFICATE OF ORIGINALITY: I  certify that  the attached  paper is my original work and has not previously been submitted by me or anyone else for any class.  I further declare I have cited all sources from which I used  language, ideas, and information,  whether quoted  verbatim or paraphrased, and that any assistance of any kind, which I received while producingRead MoreEmployment Equity1660 Words   |  7 PagesEMPLOYMENT EQUITY Contents PAGE EXECUTIVE SUMMARY 2 INTRODUCTION 2 WHAT IS EMPLOYMENT EQUITY 3 HOW DOES IT WORK 3 - 4 WHAT IS AFFIRMATIVE ACTION 5 IMPLEMENATION OF AFFIRMITIVE EMPLOYMENT EQUITY 6 - 7 OBSTACLES CHALLENGES 7 ACKNOWLEDGEMENTS 8 CONCLUSION 8 BIBLIOGRAPHY 9 EXECUTIVE SUMMARY This assignment deals with the Employment Equity Act of 19 October 1998. It covers the workings of the act in terms of equityRead MoreHarrassment Is an Example of Discrinimation in Employment Essay example821 Words   |  4 PagesJob Discrimination by definition is the practice of using an individuals race, color, national origin, sex, or religion to make employment decisions related to hiring, firing, compensation, evaluations, promotions, and training. There is a lot of discrimination in employment and the example of discrimination that occur is Harassment. Harassment Sexual harassment is one of the most heard in the workplace and usually it occur when employees are subjected to unwanted and unwelcome treatment due toRead MoreSex, Religion, And Discrimination1132 Words   |  5 Pages1. Chapter Summary Historically, there has been race, sex, religion, and many other sources of discrimination worldwide. America has come a long way in bringing justice to those who have been discriminated, and to prevent it from happening by implementing relevant policies. However, it is apparent that traces of these historical discriminations have followed us onto the new era of the 21st century. In the past few months alone, there were a few laws executed to stop inequity allowing for: †¢ SameRead MoreDisability Discrimination In The Workplace1439 Words   |  6 PagesOver the years, the workplace has experienced several instances of discrimination. In attempt to stop the discrimination, Title VII was passed. Although Title VII helped employers in terms of race, color, gender, religion and national origin, those who had disabilities continued to face the frustration of disability barriers in the workplace, given disability was not one of the listed protected classes. Employers abstained from hiring the disabled in fear of them not being able to perform at theRead MoreDiscrimination : Discrimination And Discrimination1169 Words   |  5 PagesII 10/5/2017 Discrimination Of People in the Workplace Does Discrimination still exist in the work environment? You bet. This paper focuses on discrimination laws that help women and men, who are treated differently because of their sexuality, race, religion and gender identity. Federal and State laws forbid discrimination against race, religion, sexual orientation, sex, and gender identity even though it still happens to many people. (Employment Law Handbook. (n.d.).) Discrimination Laws Organizations

Potential Liability Certified Information Systems

Question: Discuss about the Potential Liability for Certified Information Systems. Answer: The auditor is a person who is qualified to evaluate and validate that the accounting information given by an audited organization precisely fits in to the actions that are acquired by an organization. The auditor's responsibility is to prepare a report at the end of the audit, which decides the standard of accurateness and clearness that the company has considered. For a moment, if every step related to accounting prepared by an organization is illustrated in the records, and all information that is noticeable in the books matches to the course of trade in an organization, then it states that audit will show no inaccuracy (Economic, 2016). Power and duties of auditors The power of the auditors helps them to properly analyze the financial position of the firm. Auditors should have right to access the accounts and vouchers of organization. The organizations management should provide all the relevant data to the auditors, for performing duties without any hindrance. Auditors have the authority of signing the audit report of organization and other financial documents as well (Bainbridge, 2012). Notices and communications related to any meeting should be properly sent to auditors on time. Remuneration of the auditors should be made clear within the general meetings or any other way of communication. The duties of the auditors make them responsible for indicating things in advance to organization (Cannon, 2011). Auditors should make audit report for the company, as it helps to know about the financial statements. Auditors work should based on the certain principles of the auditing. Auditor while performing his/her duties founds out that illegal act is i nvolved, fraud is being committed in opposition to the organization by officers or employees, auditors should right away inform the fact to the Central Government on time and by following approved procedure (Pickett, 2010). Duty of care Duty of care can be explained as, the accountability or the lawful duty of an individual or association to keep away from actions or measures, which can create damage for others. An accountant owes it in properly developing organizations accounts, an auditor owes it in validating an organizations financial statements appropriately, which represents financial position of an organization. Director to shareholders it is owed in preserving the firms assets and manufacturer to consumers it is owed for the security of goods and every party to a contract it is owed to the other parties who are contracting (Giove, 2015). Global financial crisis is a universal era of financial complexity accustomed by markets and customers. A global financial crisis is a complex business environment to do well because possible customers are likely to decrease their acquisition of products and services up till the economic conditions develops (Davies, 2010). The financial crisis and auditor liability The global financial crisis (GFC) is frequently presumed to have begun in July 2007, when there was loss of motivation by US financers in the worth of sub-prime debts induced a liquidity crisis. This, sequentially, evolved out in the US Federal Bank introducing a huge amount of investment into monetary markets. With September 2008, the crisis had aggravated as stock markets across the universe strike and resulted in extremely unstable manner. Customer motivation hit the rock bottom as everybody tightens belts in terror of what could happen further (Davies, 2014). Auditors are under attention due to faith that a green signal provided by the auditor means that a states that organizations accounting application have approved inspection (Pal, 2010). The table below illustrates that anxious ?nancial ventures, in Netherlands, Iceland, Germany, UK, France, USA, or Switzerland, acknowledged unquali?ed audit viewpoints on their ?nancial statements issued right away former to the public announcement of ?nancial problems. These viewpoints were given by one of the Big Four accounting enterprise Ernst Young, KPMG, Deloitte Touche, and Price water house Coopers. The principles of auditing in Australia are very much associated with international principles of auditing, which illustrates that the auditors process essentially engage a thought of the organizations capability to carry on in operational continuation for the future nearby. Sequentially, that compels deliberation of the present and the probable future conditions of the company and the surroundings in which it works. Principles of auditing also need auditors to present audit process planned to acquire adequate suitable audit proof that all proceedings until date of the report of auditor may need modification of, or revelation in, the ?nancial statements, which is recognized (Malb, 2013). Lehman brothers case On 28 January 2008, Lehman Brothers who acknowledged an unquali?ed audit viewpoint on its accounts annually, on 10 July 2008, which was chased by vigorous clean bill in terms of accounts quarterly (Rootzen, 2011). On the other hand, nearby August it was undergoing rigorous ?nancial troubles and on 14 September 2008 registered for insolvency. Bear Stearns, Americas fifth chief investment bank, on 28 January 2008 acquired an unquali?ed audit viewpoint. On the other hand, by 10 March, its ?nancial troubles strike the headings and on 14 March, with the help of state, JP Morgan Chase purchased it (Harress and Caulderwood, 2013). The German migrant Henry Lehman and his brothers came with the establishing Lehman Brothers in the 1850s. In its initial years organization traded cotton, however with the commencement of the 20th century the organization entered in trading of banking and securities, ultimately became a speculation bank (Historical Resources, 2010). Financing and performing business in rising section of the 20th century, moreover, preceding worldwide and obtaining other firms, Lehman Brothers extended along with becoming worlds chief speculation banks . Modern speculation banks like Lehman are complicated academies with superior and difficult formation, with every day undertakings of numerous billion of dollars. Prior to the fall down of Lehman Brothers the chief business sectors was characteristic speculation banking, also equities, capital markets, fixed income and speculation administration. Lehman Brothers speculation banking industry gave financial services like, underwritings and issuing securities, mergers and acquisitions (Rootzen, 2011). Further business areas related to the equity sector of Lehman financed in equity across the globe. However, the fixed income, speculation administration and capital markets sector focused on wealth administration and different services. The size of the undertakings or services given was charged and their major revenues were acquired from these (Hantoft and Jerkrot, 2012). Financial crisis in Lehman Brothers Lehman Brothers executive and auditors failure caused the bank collapse that unbinds the worst of financial crisis. Lehman Brothers continuously extended their own domestic risk limits and commands and huge range of worst calls due to its management caused the failure of bank, stated in the report commenced by inspector Anton Valukas. The U.S. Bankruptcy Court for the Southern District of New York to examine the causes of Lehmans failure appointed Valukas, of New York law firm Jenner Block, in January 2009 (Wong and Smith, 2010). Credit crunch led investor motivation to fall down and in 2008, Lehman tried to anticipate collapse creating a false image of its financial situation. Lehman Brothers executives could have done better in comparison. Valukas, held responsible Lehman executives for aggravating the organizations troubles, creating the financial down fall for creditors and shareholders. The executives' behavior towards balance sheet manipulation is a severe but unoccupiable mistake related to business decision. Lehman Brothers make use of Repo 105 to make their accounting records look better. Instead of selling $ 50 million at a loss, they used Repo 105 to create a false picture in the balance sheet, which removes these assets from the balance sheet (Wong and Smith, 2010). Lehman Brothers global financial controller provided confirmation in context of Repo 105 use was only for showing reduction in transaction from balance sheet. Ernst Young the auditor was conscious about the use of Repo 105, except that also it did not confront or inquiry in context of this. However, there was not any evidence regarding the awareness of auditors about the use of Repo 105 (The Guardian, 2015). Charlie Perkins Ernst Young representative pivoted liability from his company, stating that Lehman Brothers insolvency was the outcome of a sequence of unfavorable proceedings in the financial markets. Ernst Young stated that they audited the financial statements according to the Generally Accepted Accounting Principles. Hence, auditors are not liable for the insolvency of Lehman Brothers (CNBC, 2016). Recommendations Based on the report it can be recommended that accountants, managers, boards of members are responsible along with auditor for financial crisis. Hence, it becomes the combined responsibility of the all of these to work in a proper format to avoid financial crisis following prescribed standards. Regulators should be allowed to take responsibility directly for auditing. It is not anticipated from auditors to provide assurance for the continued existence of any organization. Rather than auditors should be allowed to work independently for the organizations they are auditing and should work out sensibly with concern and ability. Auditors should be good at predicting the performance of the organization since previous 12 months accurately, by providing justified and reasonable view over the performance. Auditors work is to focus on the historic information not over the future prediction. The auditors should focus on the reliability and impartiality strategy. The cooperation of the manageme nt is necessary for the auditors to create a fair audit report for the organization. The organization must inform the auditors about the meetings that have to be attended on time. Public expectations and actual facts should be met out, there should not be any gap between actual and expected. Conclusion From the report, it can be evaluated that financial crisis has the huge impact on auditors liability. Principle of auditing has been changed from time to time. Auditors play very crucial role in the organization. Investors and lenders before dealing with nay organization focus over the auditing reports of any company. Auditing report helps to judge the financial position of the organization. Power and duties help auditor has to perform their jobs properly. Auditors cannot be fully blamed for financial crisis, as accountants, manager, board members are also responsible for the organization. Direct responsibility of the regulators can restrict financial crisis probably. Auditors do not have the liability to provide guarantee for the survival of the organization. Auditors can only analyze the financial statements of the organizations and provide accurate report to the company. The job of auditor is not to forecast future rather to provide guarantee that organizations financial statement s provide a factual and reasonable analysis over the preceding 12 months presentation. References Bainbridge, S. M. (2012) Corporate Governance After Financial Crisis. New York: Oxford University Press Cannon, D. L. (2011) CISA Certified Information Systems Auditor Study Guide. Australia: John Wiley Sons CNBC (2016) On this day 8 years ago, Lehman Brothers collapsed: Have we learned anything? Available at: https://www.cnbc.com/2016/09/15/on-this-day-8-years-ago-lehman-brothers-collapsed-have-we-learned-anything.html (Accessed: 13 January, 2017) Davies, H. (2010) The Financial Crisis: Who is to Blame? UK: Polity Davies, J. (2014) Global Financial Crisis What caused it and how the world responded. Available at: https://www.canstar.com.au/home-loans/global-financial-crisis/ (Accessed: 13 January, 2017) Economic (2016) What is an auditor? Available at: https://www.e-conomic.com/accountingsoftware/accounting-words/auditor (Accessed: 13 January, 2017) Giove, F. C. (2015) Auditing Essentials. New York: Research Education Assoc. Gramling, A. A., Johnstone, K. M., and Rittenberg, L. E. (2012) Auditing. USA: Cengage Learning Griffithis, P. (2016) Risk-Based Auditing. USA: CRC-Press Hantoft, L., and Jerkrot, H. N. (2012) Statistical Report Lehman Brothers. Available at: https://www.math.chalmers.se/~rootzen/finrisk/Statistical%20Report%20Lehman%20Brothers%20Group%208.pdf (Accessed: 13 January, 2017) Harress, C., and Caulderwood, K. (2013) The Death Of Lehman Brothers: What Went Wrong, Who Paid The Price And Who Remained Unscathed Through The Eyes Of Former Vice-President. Available at: https://www.ibtimes.com/death-lehman-brothers-what-went-wrong-who-paid-price-who-remained-unscathed-through-1405728 (Accessed: 12 January, 2017) Historical Resources (2010) History of Lehman Brothers. Available at: https://www.library.hbs.edu/hc/lehman/history.html (Accessed: 13 January, 2017) Malb, M. (2013) The role of the Auditors Liability in the global financial crisis. Available at: https://prezi.com/vsujbqrl8kdw/the-role-of-the-auditors-liability-in-the-global-financial-crisis/ (Accessed: 12 January, 2017) Pal, T. (2010) The Impact Of The Economic Crisis On Auditing. European Integration Studies, Miskolc, 8(1) pp. 131-142. [Online]. Available at: https://www.matarka.hu/koz/ISSN_1588-6735/GTK_vol_8_no_1_2010_eng/ISSN_1588-6735_GTK_vol_8_no1_2010_eng_131-142.pdf (Accessed: 12 January, 2017) Pickett, K. H. S. (2010) The Internal Auditing Handbook. 3rd edn. Australia: John Wiley Sons Rootzen, H. (2011) A Case Study of the Lehman Brothers Bankruptcy. Available at: https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.186.5564rep=rep1type=pdf (Accessed: 12 January, 2017) The Guardian (2015) Lehman Brothers' former CEO blames bad regulations for bank's collapse. Available at: https://www.theguardian.com/business/2015/may/28/lehman-brothers-former-ceo-blames-bad-regulations-for-banks-collapse (Accessed: 13 January, 2017) Wong, G., and Smith, A. (2010) What killed Lehman. Available at: https://money.cnn.com/2010/03/12/news/companies/lehman_examiner/ (Accessed: 13 January, 2017)

Week 3 Devry Business Law Assignment Essay Example

Week 3 Devry Business Law Assignment Essay The definition of a valid contract is that it complies with all of the legal requirements for a contract. There are several types of contracts. First is a unilateral contract, which is one that only one of the parties involved makes the promise. The other party involved would than act in return for the promise stated. A bilateral contract is when both partied make a promise. An implied contract is when there are surrounding circumstances along with facts, which show that a promise was created. A contract is not executed when all of the parties involved have fully completed their promise and contractual duties. In order for the offer to be valid, there are several basic elements. First, there must be intent to contract. Secondly, it must be communicated to the acquirer. Lastly, the terms and conditions needs to be certain and definitive. All parties involved have the right to duress from one another. If these elements are not met, the contract may be seen as invalid. In contract law, in order for a contract to exist, one part must make an offer and the other must accept the offer. There are several rules to the accepting of an offer. First, prior to the offer being accepted, the offer may be withdrawn. We will write a custom essay sample on Week 3 Devry Business Law Assignment specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Week 3 Devry Business Law Assignment specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Week 3 Devry Business Law Assignment specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The offeree must accept the offer, which is the person who was made the offer. Another person cannot accept the offer of their behalf without specific authorization. For example, if a power of attorney exists, another person may be able to accept the offer. If the offer specifies a method in which the acceptance should be given, it must come in that form. For example, if the offeror states that the acceptance must come via fax and no other method is allowed, it is the only form that can be accepted. In order for a binding contract to be created, there must be consideration in order for it to become legally sufficient. The consideration in contracts is when one party for a specific promise gives something of value from the other party stated in the contract. The consideration may be given for the performance of an act or not performing an act. One example of this would be that one party pays another party to not put up a fence of their property. In order for the contract to become enforceable, the consideration must be adequate. The adequacy does not mean that the price matches, exceeds, or is the fair market value. Instead, it means that the agreed consideration is measured. There must be value that can be objectively determined in order for consideration to exist. Pennsylvania law allows for the recovery of damages when a contract is breached. Essentially, any damages incurred due to the breach will total a sum that will compensate the non-breaching party for all loss in which they sustained. In order for this to take effect, the non-breaching party must present sufficient evidence of what exactly the damages where. The damages needs to be reasonably foreseeable at the time the contract was entered into and also reasonable certain as to the calculations. Examples of these damages would include lost profits, lost rental income, an increase of rental costs, an increase of labor costs, an increase of material costs, and so forth. References: Miller, R. L. , Jentz, G. A. (2010). Business Law Today: Comprehensive Edition. In R. L. Miller, G. A. Jentz, Business Law Today: Comprehensive Edition (pp. 248 256). Cengage. Schwartz, S. (2012). Schwartz Blackman. Retrieved from Pennsylvania Commerical Law: Breach of Contract and the Duty to Mitigate Damages: http://www. schwartzandblackman. com/pennsylvania-commercial-law- breach-of-contract-and-the-duty-to-mitigate-damages-part-two/

Night Essays (715 words) - The Holocaust, Holocaust Literature

Night The Absence of Knowledge Never shall I forget that night, the first night in camp, which has turned my life into a long night never shall I forget that smoke Night doesnt always represent the absence of light, but is a symbol for the absence of knowledge. Elie Wiesels book Night is a true account of what the Holocaust did, not only to many Jews but to humanity as well. The night was dark, flooded with death and decay, in the silent gray sky, secreting all that happened in Germany at that time. Crematories filled the night sky with the horrific odor of burning flesh, searing your nostrils. In this night, a concealed operation was occurring. Millions of Jews, including Elies family suffered horrible deaths of incineration, being shot to death, lack of food, and terrible death marches. This book was titled Night because of the worlds ignorance towards the slaughtering in Germany by the Nazis. Elie and his family were transported by train; cramped, starved, and fearful of death. These massive trains carried thousands of women, children and men to an unknown destination, leaving them in the dark, without windows or fresh air they were living in an everlasting night. Many Jews went crazy and tore their hair out from living in a cramped space. They were not given food or water for many days so they became dehydrated and desperate for just a bite of hard bread. There was no sanitation in the boxcars. Not having bathrooms and sinks made the train cars reek of waste. Many people went crazy like the woman in Elies car who had images of smoke and fire, screaming and yelling till she got knocked out. Because the train cars were so dark and dim it gave everyone within them a long night, full of fear. Gleiwitz concentration camp was one of the nastiest camps he had been to. Elie Wiesel worked endless nights, trying to stay alive, and keep his father alive. Many Jews were worked to death by hard labor and no food. His father was getting weak, so Elie gave him extra rations of food to keep him living. Another hardship was the long, arduous death marches. The allies were coming closer to the camps, so the Nazis made Elie and his father run from Buna to Gleiwitz, to evacuate to a more central part of Germany. The transfer was a long journey through bitter cold, and thick falling snow. Elie fought these hardships, unlike many who died, and came through to live to this day. Throughout the book Elie showed the reader how the evil Nazis broke the pride and spirits of the Jews. As the time he was in the camps went by, he began to lose faith in God. He saw many brutal beatings and killings that made him think. Why does god exist, and if all those people were dieing and suffering without any help from him. As he watched this happen, he knew he was going to be physically and mentally impaired during the time at camp. He learned to be quiet and take a beating if you must do so in order to live, and not to fight back. Because of all this, it made him wonder if God was really watching him and taking care of him. Elie was a great example of how the Nazis broke the Jews down and made them weak. The Holocaust threw a blanket over the rest of the worlds eyes. It seemed impossible to believe such horrors could occur so suddenly. Other countries ignored the fact that six million people were killed. The Nazis pursued that goal in liquidating millions of Jewish, gay, handicapped, and black citizens. By the end of the war Elie had lost all faith in God, and his people forever. The terrible train rides, death marches, the loss of spirit, and faith in his fellow man, provides the title Night for this great authentic novel. The night was a time for suffering and sorrow, a time of history that no one will ever forget. We need to remember the horrors of the Holocaust so that this night, or absence of knowledge, will never be allowed to occur ever

Free Essays on Bilingual Educatio

Bilingual Education: A Necessity in Today’s World? Education is a privilege offered in the United States that the children of America take advantage of everyday, but unfortunately not all the children can enjoy this opportunity because they do not speak the common language. Bilingual education is another avenue that needs to be explored by more school districts across the nation because children should learn that there are other forms of communication. High schools require their students to take a foreign language before graduating, so why is this form of bilingual education accepted; yet an elementary bilingual program is under constant criticism? Bilingual people are rewarded in today’s society by the higher wages and better positions. The ridicule of the bilingual education programs that provide students with this wonderful advantage is unfounded ad usually due to misunderstandings. In today’s society, being monolingual is not longer a desirable trait; and schools must continue to support children with this spec ial gift of bilingual education. Why take away a language that child will benefit from in the future? This a country of immigrants with different ethnic backgrounds and languages; and if the retention of ethnicity is supported, it will excel above the rest of the world. Bilingual education has an impressive history, and the arguments against it are usually unfounded. History has served as a guideline foe the actions of today’s government, businessmen, and all-important issues. The history of the bilingual education is not a well-known topic, and yet it is significant in the argument for bilingual education. For many Americans, the idea of teaching children in other languages is affront to traditions (Crawford), but why not consider the traditions of the settlers, for it had been proven that in the Thirteen Colonies settlers developed bilingual schools to help the assimilation of the immigrant settlers and ... Free Essays on Bilingual Educatio Free Essays on Bilingual Educatio Bilingual Education: A Necessity in Today’s World? Education is a privilege offered in the United States that the children of America take advantage of everyday, but unfortunately not all the children can enjoy this opportunity because they do not speak the common language. Bilingual education is another avenue that needs to be explored by more school districts across the nation because children should learn that there are other forms of communication. High schools require their students to take a foreign language before graduating, so why is this form of bilingual education accepted; yet an elementary bilingual program is under constant criticism? Bilingual people are rewarded in today’s society by the higher wages and better positions. The ridicule of the bilingual education programs that provide students with this wonderful advantage is unfounded ad usually due to misunderstandings. In today’s society, being monolingual is not longer a desirable trait; and schools must continue to support children with this spec ial gift of bilingual education. Why take away a language that child will benefit from in the future? This a country of immigrants with different ethnic backgrounds and languages; and if the retention of ethnicity is supported, it will excel above the rest of the world. Bilingual education has an impressive history, and the arguments against it are usually unfounded. History has served as a guideline foe the actions of today’s government, businessmen, and all-important issues. The history of the bilingual education is not a well-known topic, and yet it is significant in the argument for bilingual education. For many Americans, the idea of teaching children in other languages is affront to traditions (Crawford), but why not consider the traditions of the settlers, for it had been proven that in the Thirteen Colonies settlers developed bilingual schools to help the assimilation of the immigrant settlers and ...

Discussion Questions Week 2 Essay Example | Topics and Well Written Essays - 750 words - 1

Discussion Questions Week 2 - Essay Example Those who are transiting between jobs can be included in this category. Frictional unemployment is that unemployment caused by information or search costs. Usually when a person quits, is fired, or enters the labour market, there are jobs available for which that person is qualified. The person will be frictionally unemployed because it takes time (and effort) to find the jobs that are available. The emerging students after the completion of their studies who are searching for jobs (new entrants), and those who are seeking better jobs than the present one (Re-entrants) can be considered frictionally unemployed. Frictional unemployment results from the day-to-day changes in a dynamic, changing economic system in which old industries die and new ones are born, in which people get tired of old jobs and old bosses, in which bosses find work of subordinates unsatisfactory, and in which new people enter and others re-enter the labour force. Frictional unemployment exists because both jobs and workers are heterogeneous, and a mismatch can result between the characteristics of supply and demand. Such a mismatch can be related to skills, payment, work time, location, attitude, taste, and a multitude of other factors. The government can advice the students about the career prospects and they can guide them through proper counseling. Proper career oriented training and schooling will help the students in attaining the desired jobs. The available jobs can be notified to the job seekers using different means and at the same time the organizations that have job vacancies should be informed about the available labour force by the government. The prejudices about the jobs and the employees can be avoided through the intervention of t he government. The government can also provide incentives to the unemployed. In this case, the number of unemployed workers exceeds the number of job vacancies, so that if even all open jobs were filled, some workers

Gender isues in employment Essay Example | Topics and Well Written Essays - 2000 words

Gender isues in employment - Essay Example "It is a people business. Tourism is the largest employer of any industry in the world now; its growing by leaps and bounds. And tourism is the largest employer in San Francisco. This gives women a chance to hone their management skills." (Armstrong, 2006) Employment opportunities in the hospitality profession abound all over the world. In the majority of West European countries women predominate in the hotel staff but unfortunately, only a small number of women are in management positions. Purcell postulates that there are three mutually-reinforcing but distinct elements which influence the allocation or denial of particular work to women: labour cost, sexuality and patriarchal prescription (Purcell, 1996) A study by Kattara in 2005 on career challenges of female managers in Egyptian hotels found out that the majority of female managers were not in situations that would lead them to the positions of general managers. â€Å"The study detected several factors preventing female managers from reaching the glass ceiling. The stepwise multiple regression showed that 35.5 percent of the variance in the existence of challenges could be explained by four factors; gender discrimination, relationships at work, mentor support and lack of network access† (Kattara, 2005) In the hospitality sphere there also exists a strong gender-segregation in work. Burgess, in her research, claims that there exist considerable discrepancies between the career development and salaries of men and women in the hospitality industry. The most prestigious and, therefore, better-paid job positions are occupied by men (Burgess, 2003).. Female employees tend to work in housekeeping, the kitchen or in the food and beverage departments. While there tends to be an equal amount of men and women in front office, top managerial positions still tend to be held by men. There appears to be a constant conflict between mutually beneficial

Environmental Experiences Essay Example for Free

Environmental Experiences Essay The capability of a location to enhance environmental experience depends on the landscape and its potential to foster and create subjective interpretations among individuals. These places also are significant to visitors since it promotes education and other indirect effects. Recognizing the need for architecture is important for people to fully understand and feel the landscape experience. The Tree Top Walk at the Valley of Giants in Australia â€Å"is a walkway that rises up to 38m above the forest. † Visitors can be able to create the feeling of environment. Visitors get a different perspective on the shapes, sounds and movement of the forest. The Oregon Paleo Lands Institute will help you discover Oregons past and explore its present landscapes. The place helps educate individuals and visitors of the wonders the place has to offer. Our mission is to help northwest residents and visitors of all ages to explore, understand, and enjoy the world-renowned natural history of north central Oregon, the ancient and living landscapes of Oregon’s last 400 million years, and the full fossil record of earth’s last 50 million years. The Lady Bird Johnson Wildflower Center in Texas seeks to inform individuals of the diverse native plants in the region. First as the National Wildflower Research Center and later as the Lady Bird Johnson Wildflower Center, this special place exists to introduce people to the beauty and diversity of wildflowers and other native plants. This is in response to the threats and the call for preservation of these plants. These places help enhance their experience of understanding landscape by how each one creates the feeling of satisfaction and cultivate the feeling of appreciation that contributes to the landscape experience. It must be a mixture of both understanding and at the same time appreciation of his/her perceptive abilities. However, an individual must not only settle for what is observable. The visitor must create and conceptualize his/her own interpretation of the landscape. This image will bear some relationship to the way in which the individual responds to and structures his world as a result of his physical perceptual capacities, socio-economic, cultural, personality, experiential and other characteristics. The three types of places mentioned give both direct and indirect experiences to the visitor. Looking at it, the area of indirect experiences is classified to be relative. An experience of an individual may vary depending on how each one perceives a landscape and associates it to personal experience. A person feeling can range from curiosity over the landscape to happiness and awe. There are varied reactions among people and this creates different reactions that cultivate experience. On the other hand, there are also direct experiences that the landscape contributes to a visitor. These are (1) education, (2) environmental education and (3) interpretative centers. Education can be considered as one important contributions of landscape experience. It creates awareness that has been stimulated by the actuality of perceiving, analyzing and understanding the landscape. A visitor creates its connection with the landscape by the way it manifests itself to the viewer and in return how the person responds to it given the factors that revolve around the environment and the individual. Thus, this creates the process of education for each visitor. Environmental education can also be seen as an outcome of landscape experience since the three examples that were given are primarily natural or ecological sites. Landscape experiences gives idea to visitors of the current situation of these sites. This experience creates awareness especially during this time that the call for environmental concern has been constantly increasing. Effective and meaningful environmental education is a challenge we must take seriously if we and future generations are to enjoy the benefits of our natural heritage. Thus, landscape experiences creates an avenue for environmental education by showcasing visitors the beauty and wonder of these sites and how each one is responsible for its protection and continued sustenance. The last mentioned is landscape experience creates interpretative centers. Landscape experience gives opportunities for interpretative centers to provide adequate information regarding the site. Also, interpretative centers provide cultivate interests of volunteers and organizations to further promote the site. Architecture plays an important role in landscape experience. People who have background in the topic understand that its facets are diversified. To fully appreciate architecture, students need to deconstruct its meaning from a variety of perspectives: artistic, social, and scientific. Architecture serves as a guide for visitors to engage in their local landscape. The idea is that each individual seeks find meaning and experience in the landscape however this cannot be done without an understanding architecture. Another is that architecture’ diversity and varied perspectives paves the way for an increased landscape experience among visitors. Different meanings and interpretations are derived from these sites that foster deeper learning experiences. There are many variants and factors that determine the landscape experience of an individual. The capability of an individual to associate the landscape with an understanding of architecture and different subjective interests’ can create a meaningful and worthwhile experience. The full appreciation of the environment experience again is achieved if a learning process is obtained by the individual upon exposure to the landscape.

The child sex tourism industry in india

The child sex tourism industry in india Introduction The commercial sexual exploitation of children is a fundamental violation of childrens rights. The child is treated as a sexual object and as a commercial object. The commercial sexual exploitation of children constitutes a form of coercion and violence against children, and amounts to forced labor and a contemporary form of slavery.1 Child Sex Tourism is part of the global phenomenon of commercial sexual exploitation of children. It involves the sexual abuse exploitation of both male and female children, usually but not always, in tourism destinations. Several studies have attempted to understand the extent and severity of the phenomenon, emphasizing different aspects thereof: be it travel trade, psychological, socioeconomic facets. The factors that push children into sexual exploitation are numerous for example: family disintegration, inequitable socio-economic structure, harmful and religious practices which undermines fulfilment of the basic need of the children. By treating the child as a commodity which can be purchased, hired sold or thrown away is no longer a question of poverty, but rather one of values, in particular the values of consumerism. According to NHRC Report on Trafficking in Women and Children, in India the population of women and children in sex work in India is stated to be between70, 000 and 1 million of these, 30% are 20 years of age. Nearly 15% began sex work when they were below 15 and 25% entered between 15 and 18 years (Mukherjee Das 1996). In public view child sex tourism is not considered a major social issue in India, partly because of the perception that the problem is not as acute as in some countries of South East Asia and partly because the problem is largely associated only with poverty. Every hour, four women and girls in India enter prostitution, three of them against their will. Here when a women or a children are forced for such things then Are these not a concern related to ethics? This paper will discuss the causes of the problem of child prostitution for sexual needs in India. Sex tourism refers to an organized tour whose primary purpose is the commercial-sexual relationship with an individual from the country that he or she is visiting. There are three major categories of sexual exploitations that occur within sex tourism. These are prostitution, pornography and trafficking for sexual purpose. Recently, the trend of sex tourism is to provide sex tourists a wider number of children as opposed to older and more mature women. In fact, the commercial sexual exploitation of minors by international tourists today is considered as a human tragedy occurring in a grand scale with virtually no consequences for those who practice this. The World Tourism Organization, a specialized agency of the United Nations, defines sex tourism as trips organized from within the tourism sector, or from outside this sector but using its structures and networks, with the primary purpose of effecting a commercial sexual relationship by the tourist with residents at the destination. But it also refers to business people, transport industry workers or military personnel. Attractions for sex tourists can include reduced costs for services in the destination country, along with either legal prostitution or weak law enforcement and access to child prostitution. More than 2.4 million tourists visit India every year and growth of the tourism industry in the country has contributed to an increase in the sexual exploitation of children by tourists. Child sex tourism is prevalent in Goa, North Karnataka, Kerala, Tamil Nadu, Orissa, West Bengal and in Rajasthan. Mumbai is believed to be the biggest centre for pedophilic commerce in India. Child sex tourism involves hotels, travel agencies and tour operators and some companies openly advertise availability of child prostitutes. They have contacts with adult sex workers, rickshaw pullers; petty traders who make contact with street or other vulnerable children and bring them to tourist hotels and lodges. Children are often promised better jobs and then forced into sex and in many cases moneylenders force parents to sell their children to repay debts. A traveler may not intend to engage in sex with children while he is away from home, but he does so because a child is made easily available to him. Op portunistic exploitation, then, along with organized child sex tourism, is a critical factor compounding the complex socio-economic factors that push children into local prostitution industries. Here are some of the prominent  facts about child sex tourism in India: India has the largest number of children (375 million) in the world, nearly 40% of its population 69% of Indian children are victims of physical, emotional, or sexual abuse (or read it as every 2 out of  3) New Delhi, the nations capital, has an abuse rate of over  83% 89% of the crimes are perpetrated by family members Boys face more abuse (>72%) than girls  (65%) More than 70% of cases go unreported and unshared even with parents/family There are many factors that make children vulnerable to sex tourism. They may also be called as a Push factor for them in child sex. Let us discuss some of them. Organised prostitution: It is known that child prostitution is the sexual exploitation of the child for remuneration in cash or in kind, usually but not always organized by an intermediary (parents, family members, procurers, etc.). Many children, particularly girls, are abused within brothels that are frequented by both, local, regional and foreign child abusers. Some research suggests that girls enter the sex industry as a direct result of coercion or an unspoken expectation by other family members, including sisters or mothers already in the industry. Many of the girls are from the States of Karnataka, Andhra Pradesh and Maharashtra and often the daughters of migrant women involved in the sex industry. Poverty and economic insecurity: The majority of the children, both migrant and local, come from poor backgrounds and have little or no access to education. The parents are unskilled workers from neighbouring States who need to migrate to various regions in search of employment. As a result, many of the children are also compelled to work and can be found around beach and resorts areas, often working as vendors. The nature of their work requires them to be friendly to tourists and therefore leaves them open to offers by sex tourists. Weak family structure: Family breakdown is seen as an important aspect leading to children being exposed to abuse. Many children have run away from home and live on the streets due to problems at home ranging from drug abuse, alcoholism or physical or mental illness. Like all children who suffer from violence and abuse, they may be physically, mentally injured. They are at high risk of: long-lasting physical, social, and psychological damage, disease (including HIV) or unwanted pregnancy and forced abortions. Lack of parental supervision: Many of the abused are migrant workers children who are unsupervised and alone on the streets while their parents take up casual or daily wage work in Goa. These children often end up wandering on the streets and are vulnerable to the lures of sex tourists. Trafficking: Trafficking of children is a worldwide phenomenon affecting large numbers of boys and girls every day. Children and their families are often lured by the promise of better employment and a more prosperous life far from their homes. Others are kidnapped and sold. Trafficking violates a childs right to grow up in a family environment and exposes him or her to a range of dangers, including violence and sexual abuse. There is also some evidence to suggest that children are being trafficked to Goa from other parts of the country or even from other countries for purposes of sexual exploitation. Children are also sold by poor families from different regions and then forced into working in the sex industry or other labour around coastal areas where they are at risk from sex offenders. It appears that some families sexually exploit their own children by either selling them to traffickers or by forcing them into prostitution. Such families prize material benefits at the cost of an y abuse to their child. Pornography: Pornography is like a media in sex tourism. Child prostitution is somehow connected with child pornography. It refers to the visual or audio depiction of the child for the sexual gratification of the use, and involves the production, distribution and or use of such material. Pornographic images of children are often copied multiple times and may remain in circulation for many years; the victim continues to be subjected to humiliation long after the image has been made. Discrimination: Many prostitutes in India are victims of the Devadasis (temple prostitute) system and have been dedicated to the Goddess Yellamma (around 10,000 girls in India are dedicated annually). Goa is no different and many of the girls in its red light districts are victims of this system. After knowing all the factors which push children into such vulnerable situation, one thing which comes instantly into mind is that all contrary to the principles of Integrity and Fairness. It is always questionable that Are these children not a human being? How a parent can do such pitiful things with their own child?Every child has its own integrity and has the right to live a life of respectful human being. The exploitation of human beings dehumanizes the individuals who are trafficked, rewards the inhumanity of the traffickers, and weakens the moral and social fabric of society at large. Restoring dignity to persons who have been exploited is not easy, and the danger of paternalizing trafficked victims in the name of aiding them must be kept in view. Traffickers and parents who expose their children need to be stopped and held accountable, but they also need those who will help them to a transformation of heart and mind. Sex tourism is the dark side of the global phenomenon of tourism. Every day we read about the benefits of tourism, its income and employment potential, its ability to bridge the gap between the rich and the poor, its potential to overcome uneven development in backward regions of the world Asks why sex tourism is being condoned and wonders why more voices are not raised in protest against its continuance. It often raises a concern for the Indian society but why only India society, child sex tourism is the part of every country whether in Asia or Europe or America. Do societies and Government need not to show Concern and Respect towards these children. Children are the future and some even call them Gift of God. Travellers who travel to some less developed country think that they have all the rights to use people as they want. The methods that sex offenders use to lure children into abusive situations range from offering them money or gifts, convincing parents that the child will enjoy a better life and providing children with shelter and employment. Such grooming methods are the hallmark of the preferential sex offender whereas the opportunistic ones exploit the children they meet on the street or are offered by pimps. The justifications that sex tourists offer for their abuse of children include the perception that they are helping the children monetarily and also giving children the love that they appear to crave. Many travel agencies, hotels and others are all involved in this whole process. These people think that it is part of their job and they are rendering their services to these travellers. But are their not any Code of Ethics in tourism industry. Develop an ethical policy regarding trafficking and commercial sexual exploitation of children. Providing information to tourists on CST and request them to help dealing with the problem by informing if they see any doubtful behaviour of tourists who accompany children. To provide information to travellers by means of catalogues, brochures, in-flight films, ticket-slips, home pages, etc. The study calls for specific national, regional and local actions to safeguard children who are being sexually exploited, or are at-risk of sexual exploitation. Recommendations include the Ministry of Tourism creating a National Plan of Action to Counter Child Abuse in Tourism and for businesses in the tourism industry to shoulder more responsibility for this problem by, for example, joining the Code of Conduct (www.thecode.org). It was recommended that state and central tourism departments report annually on the status of child abuse cases, set up mechanisms along with other bodies for the protection of children, and to demonstrate a clear stand against any form of child sex abuse. The Ministry of Women and Child Development (MWCD) are also called on to create a comprehensive Act that imposes severe punishment of offenders, including extradition laws (through the Ministry of Home Affairs). The report also calls for child sex tourism cases to be treated as non-bailable offences. Trai ning on child rights laws and how to handle child abuse cases for Police was also recommended, along with sensitization training and mandatory reporting of child abuse (including adults traveling with children under suspicious circumstances) both by Police and by airport and railway authorities. More in-depth study on the commercial sexual exploitation of children is also necessary to inform policy, protection mechanisms and campaigns. What can we do? Here are my thoughts: Educate our children about sex. If you are not parents yourselves, but know and care about other families of friends and relatives, open up this topic for discussion and encourage the parents to do what is  right. If you think talking about sex is difficult for you, dont just be embarrassed,  shrug  it  off, and give it up. Many parents dont know their children are victims, and live in a fantasy world of nothing like that would ever happen to my child. Talk to your parents in order to understand what diffi culties they had to face culturally when bringing you up. That may give clues to how to overcome cultural taboos. Finally, spread the word. Spread the awareness. We owe it to the next generation. With the knowledge that our children know the basic facts to safeguard themselves, we can at least hope to hold our heads high once  again. With the economic growth more tourism increased salaries limited family lifeà ¢Ã¢â€š ¬Ã‚ ¦ more luxury lifeà ¢Ã¢â€š ¬Ã‚ ¦ money being spent for temporary pleasure going highà ¢Ã¢â€š ¬Ã‚ ¦ all kind of un-social activities will be going high. It is the real form of terrorism. Let the policy maker and the party in power and the opposition party see that this is the new form of suicide bomb. After centuries of being shoved under the carpet, the truth is out. And we, as Indians, should stop, hold our breath, drop our heads in shame, and introspect. In the fight against trafficking government organizations, non-governmental organizations, civil society, pressure groups, international bodies, all have to play an important role. Law cannot be the only instrument to take care of all problems. Notes A statement from The Declaration and the Agenda for Action from the First World Congress against the Commercial Sexual Exploitation of Children, held in Stockholm, 1996

Enviromental Change – Transboundary Pollution

Chapter 10 – Transboundary pollution page 120 Aim of this lesson To be able to describe one major pollution event affecting more than one country and examine the consequences of and responses to this event. View together ‘’It happened in Chernobyl’ Part 1 and Part 2 – discuss http://www. youtube. com/watch? feature=player_embedded&v=b11aWXkehtY http://www. youtube. com/watch? v=BwMdh2SZ5-k&feature=player_embedded Using – * Consequences in more than one country http://www. grida. o/graphicslib/detail/the-continental-scale-of-the-chernobyl-accident_12e3 * The Torch report http://www. chernobylreport. org/? p=summary * THE GUARDIAN – Affects of Chernobyl explained http://www. guardian. co. uk/environment/2009/may/12/effects-chernobyl-uk-farmers 1. Annotate an outline map of Europe (enlarged to A3 size) with the consequences of the 1986 Chernobyl Disaster. Try and include impacts in at least 4 different countries and for a range of time sca les. 1. Complete the table with as much detail as you can –Responses to the 1986 Chernobyl Disaster at a range of scales| Short-Term| Long-Term| National [within Russia / Ukraine]| * People must be evacuated from area * Many â€Å"instant† deaths from radiation poisoning * Later deaths from radiation poisoning * Deadly radiation poisoning from nuclear fallout/radioactive cloud spreading * Widespread panic and fear| * Radioactive land becomes uninhabitable for many years * Birth defects in the generation after the incident due to lingering radiation poisoning in gametes * Distrust of nuclear power as a renewable energy source * Radiation poisoning causes health problems in the future| International| * Deadly radiation poisoning from nuclear fallout/radioactive cloud spreading * Widespread panic and fear| *    Birth defects in the generation after the incident due to lingering radiation poisoning in Enviromental Change – Transboundary Pollution Chapter 10 – Transboundary pollution page 120 Aim of this lesson To be able to describe one major pollution event affecting more than one country and examine the consequences of and responses to this event. View together ‘’It happened in Chernobyl’ Part 1 and Part 2 – discuss http://www. youtube. com/watch? feature=player_embedded&v=b11aWXkehtY http://www. youtube. com/watch? v=BwMdh2SZ5-k&feature=player_embedded Using – * Consequences in more than one country http://www. grida. o/graphicslib/detail/the-continental-scale-of-the-chernobyl-accident_12e3 * The Torch report http://www. chernobylreport. org/? p=summary * THE GUARDIAN – Affects of Chernobyl explained http://www. guardian. co. uk/environment/2009/may/12/effects-chernobyl-uk-farmers 1. Annotate an outline map of Europe (enlarged to A3 size) with the consequences of the 1986 Chernobyl Disaster. Try and include impacts in at least 4 different countries and for a range of time sca les. 1. Complete the table with as much detail as you can –Responses to the 1986 Chernobyl Disaster at a range of scales| Short-Term| Long-Term| National [within Russia / Ukraine]| * People must be evacuated from area * Many â€Å"instant† deaths from radiation poisoning * Later deaths from radiation poisoning * Deadly radiation poisoning from nuclear fallout/radioactive cloud spreading * Widespread panic and fear| * Radioactive land becomes uninhabitable for many years * Birth defects in the generation after the incident due to lingering radiation poisoning in gametes * Distrust of nuclear power as a renewable energy source * Radiation poisoning causes health problems in the future| International| * Deadly radiation poisoning from nuclear fallout/radioactive cloud spreading * Widespread panic and fear| *    Birth defects in the generation after the incident due to lingering radiation poisoning in

Narrative Essay. A Day of Mixed Happiness and Sadness Essay

Do you think that it’s unbelievable to feel happy and sad at the same time? Actually, it is really possible to feel these two feelings inasmuch since it is something that happened to me five years ago when I graduated from college. I was happy because it was my graduation party, but I was sad because we my classmates and me – would go our separate ways again after four years of being in a close-knit relationship. . First of all, as I had gotten up earlier than usual and prepared myself for the party, I arrived at college early. Of course I was really happy at that time and I took a seat next to my classmates, my friends. After a little time, as our classmates, guests and our teachers arrived at the large hall, the party began with the reciting of some Quranic verses, and the welcoming speech. Then we listened to the speeches of the rector of the university – University of Aden, the dean of the faculty of Education-Aden and the graduates’ valedictorian. After that we enjoyed some celebratory sections of the party, such as watching a play and listening to some popular and pleasant songs performed by some students. The official party of our graduation ended up with announcing the names of the honor students and distributing certificates of appraisal at the finale at the time at which we heard the call to Al-Dhuhr prayer. Then, after prayer everyone in our group was ready for the special party of our group – group two – at the college campus. It had been agreed the day before by the group students to bring lunch, cake and drinks. So we began to eat those delicious homemade meals and then moved to have some cakes, and sweets as one real family. When everybody had finished eating, the group party started pleasantly with remembering and discussing our college memories and stories with hearts full of nostalgia longing to return to those sweet past days and moments. Lastly, despite the concealed feelings of sadness and nostalgia, we had some moments of fun and amusement when some of our female classmates brought some humorous evaluations they had prepared about the personalities of most of us. But as we began to talk about our farewell and asked each other to write down some memorable notes in their notebooks as well, feelings got triggered until some eyes filled with tears and the hearts of all became full of mixed happiness and sadness, hopes and disappointments and also waves of nostalgia for the beloved past and storms of longing for the hoped future. To conclude, of course, on our significant date of graduation, we separated as it was the farewell day, but we made our way of communicating with each other by creating a group on â€Å"Facebook† with the same name of our study group. And we learned a lot throughout this experience, such as â€Å"whomever you like, some day you will be parted from† and we knew that this is the mores of life, which has its advantages and disadvantages in our points of view. Finally, my graduation party was so exciting because I graduated from college; on the other hand, that day was one of the saddest days of my life as a result of separating us after four years of brotherhood, intimacy, friendship and closeness.

History of the Byzantine Empire essays

History of the Byzantine Empire essays The Byzantine Empire is sometimes referred to as the East Roman Empire. The word Byzantine, in fact, comes from "Byzantium," which is the Greek name for a city on the Bosphorus. It was established with the foundation of Constantinople, the capital. The Empire included parts of both southern and Eastern Europe, the Middle East, and northern Africa. The ancient Roman Empire having been divided into two parts, an East and West with the east being the Byzantine. It was around between 312-1453AD and it reached its most powerful point in the 500's A.D. People of the Empire called themselves Romans, although they weren't really Romans; they were descendants of various ancient people. They were a mixture of mainly Greeks and Latin The Byzantine Empire was greatly influenced by the Greeks, who colonized the area, in the mid 600's BC. When Constantine the Great moved the capital of the Roman Empire from Rome to Byzantium, which he renamed after himself Constantinople, in 330 AD, When the Empire began to grow in number and power. The Empire lasted close to 1250 years until the Ottoman Turks came in and beat Constantine the Great and renamed it Istanbul, which it is known as today. Christianity influenced the culture of Byzantine including art, music, and architecture. Being that Constantinople was the capital of the Empire it was where everyone would go to read and write the language of ancient Greece. This period made many beautiful works of arts and fine poetry. Visual arts also flourished, too. Most of the artist worked as servant s of the court or belonged to religious orders, and they remained anonymous, which explains why most Byzantine artwork has no artist, so one or many people could have made these great works, and we would never know. The artworks on churches were also very popular the Church of the Holy Sepulcher, known to the Byzantines as the Church of the Resurrection at the order of Emperor Constantine probably took ten years...

Honey Badger Facts (Mellivora capensis)

Honey Badger Facts (Mellivora capensis) Both the common and scientific names for the honey badger (Mellivora capensis) refer to the animals love of honey. However, its not actually a badger. Honey badgers are more closely related to weasels. The other common name for the honey badger is the ratel, which refers to the rattling sound the creature makes when its agitated. Fast Facts: Honey Badger Scientific Name: Mellivora capensisCommon Names: Honey badger, ratelBasic Animal Group: MammalSize: 22-30 inches plus a 4-12 inch tailWeight: 11-35 poundsLifespan: 24 yearsDiet: CarnivoreHabitat: Africa, southwestern Asia, IndiaPopulation: DecreasingConservation Status: Least Concern Description A honey badger has a long, thick-set body, flat head, short legs, and short muzzle. The body is well-adapted to fighting, with small eyes, small ear ridges, clawed feet, and irregular teeth. Honey badgers have a special anal gland that ejects a strong-smelling liquid used to mark territory, deter predators, and possibly calm bees. Most honey badgers are black with a white band running from the top of the head to the base of the tail. However, one subspecies is completely black. Honey badgers are the largest weasels (mustelids) in Africa. They average 22 to 30 inches in length with 4 to 12 inch tails. Females are smaller than males. Males weigh between 20 and 35 pounds, while females weigh from 11 to 22 pounds. Habitat and Distribution The honey badgers range includes sub-Saharan Africa, western Asia, and India. It occurs from the tip of South Africa to southern Algeria and Morocco, Iran, Arabia, Asia to Turkmenistan, and India. Honey badgers are adapted to habitats ranging from sea level into the mountains. They prefer deciduous forests and grasslands. Honey badger distribution. Craig Pemberton, Creative Commons License Diet Like other members of the weasel family, honey badgers are primarily carnivores. They are solitary hunters, except during the breeding season, when they may hunt in pairs. Usually, honey badgers forage during the day, but they will hunt at night near human habitation. While they favor honey, the hunt insects, frogs, birds and their eggs, small mammals, and small reptiles. They also eat carrion, fruits, and vegetables. Behavior Honey badgers have few natural predators. Their size, strength, and ferocity drive away much larger predators, including lions and leopards. Their skin is largely impenetrable to teeth, stingers, and quills. Its loose enough to allow the animal to twist around and bite its attacker if caught. Honey badgers are also extremely intelligent. They have been observed using tools to escape traps and access prey. Reproduction and Offspring Very little is known about honey badger reproduction. They typically breed in May and give birth to two cubs after about six months gestation. The cubs are born blind in the honey badgers burrow. Both males and females dig burrows using their powerful front claws, although the animals sometime take dens made by warthogs or aardvarks. The honey badgers lifespan in the wild is unknown. In captivity, they have been known to live 24 years. Honey badger carrying her pup. Derek Keats, Creative Commons License Conservation Status The IUCN classifies the honey badgers conservation status as least concern, but the animals are rare throughout their range and the population size is decreasing. Honey badgers are protected throughout portions of their range, but have gone extinct in other areas from poisoning programs. Threats Humans pose the most significant threat to honey badgers. They are hunted for bushmeat and used in traditional medicine, but most animals are killed by apiculturists and livestock farmers. They are also killed by control programs intended to target other species. A 2002 study found bee hive damage may be eliminated simply by placing hives a meter off the ground, potentially reducing the conflict with apiculturists. Honey Badgers and Humans Honey badgers are not aggressive unless provoked, but there have been cases of attacks on children. There are documented cases of honey badgers digging up and feeding upon human corpses. The animals are reservoirs of some diseases that can affect people, including rabies. Sources Do Linh San, E., Begg, C., Begg, K. Abramov, A.V. Mellivora capensis. The IUCN Red List of Threatened Species. IUCN: e.T41629A4521010. 2016. doi:10.2305/IUCN.UK.2016-1.RLTS.T41629A45210107.enGray, J.E. Revision of the genera and species of Mustelidae contained in the British Museum. Proceedings of the Zoological Society of London: 100–154, 1865. doi:10.1111/j.1469-7998.1865.tb02315.xKingdon, Jonathan. East African mammals, Volume 3 : An Atlas of Evolution in Africa. University of Chicago Press, 1989. ISBN 978-0-226-43721-7.Vanderhaar, Jane M.; Hwang, Yeen Ten. Mellivora capensis. Mammalian Species (721): 1–8, 2003.Wozencraft, W.C. Order Carnivora. In Wilson, D.E.; Reeder, D.M (eds.). Mammal Species of the World: A Taxonomic and Geographic Reference (3rd ed.). Johns Hopkins University Press. p. 612, 2005. ISBN 978-0-8018-8221-0.

International Business Essay Example | Topics and Well Written Essays - 2000 words - 4

International Business - Essay Example The airline grew at a faster rate through the acquisition of new planes and expanded route offerings that were made more appealing through such initiatives as frequent flyer program and business class seats. Despite the rise in the number of passengers, Ryanair continued to make losses due to the fact that it offered low fares though it was not a low-cost airline. As competition soared in the airline industry, the competing airlines, Ryanair was forced to lower their prices even further and eliminating the costly routes and increasing presence in the profitable routes. Through flying to regional airports that have lower costs of landing and faster turnaround times, Ryanair started attaining profitability through offering cheap flights across Europe. The cheap flights were obtainable through the elimination of free meals during flights that led the company to improve their profitability in successive years. In 1997, Ryanair put on offer an IPO that managed to raise it a lot of capital that made it easier for it to acquire other aircraft thus increasing its fleet. In the year 2000, Ryanair started making its bookings online that made it increase the number of passengers that it transferred across destinations. ... Amidst intermittent performances in the year 2009, Ryanair made other strategic changes aimed at reducing costs such as elimination of check-ins in favour of baggage drops that returned it to profitability (Ryanair. n.d). With time, the company has been able to make several strides as regards profitability albeit with numerous challenges and obstacles. Currently, Ryanair is the most favoured airline in the world with bases in forty one airports operating across twenty six countries with over two hundred aircraft transporting about 80 million passengers in the year 2010/2011. As at the moment, it prides itself as having the cheapest air ticket as compared to its competitors namely easy Jet and Aer Lingus and this has contributed to its profits to grow by an average of 25% that totals about 503 million Euros. Market Entry Strategies adopted by Ryanair Ryanair embarked on adopting certain market entry strategies aimed at positioning itself as the leading low-cost flight in Europe throug h continuous improvement of its services and route offerings. Therefore its main objective was to offer low fares that can translate to increased flow of passengers that is aimed at containing the costs as well as reducing the costs of operation. Through offering low fares, Ryanair was able to stimulate demand that may be derived from those that are aimed at those that are conscious of the fares they pay or those who may opt for alternative modes of travel. To achieve this, it offers its tickets through travel on a one-way basis thus minimizing requirements that may be pegged on the basis of stay requirements. Ryanair sets fares or travel costs on the basis of demand requirements of specific flights and in reference to

Marketing Essay Example | Topics and Well Written Essays - 2500 words - 3

Marketing - Essay Example With time the bank has been able to establish a good market position in Europe, US and Asia. The products and services offered by the bank range from fund management, stocks and annuities to mutual funds, asset management and health & life insurance schemes. The bank has built its portfolio based on tradition and acquisitions pursued over the years. UBS has successfully entrenched itself in the various business segments and its wide range of customer services are highly valued by the global clients (Thirkell-White, 2004). Strengths Umbrella brand strategy- It has been observed that ‘umbrella brands’ used by the firms, with multi-business operations, foster improved market penetration. An umbrella brand refers to the use of a common brand for various businesses. UBS has also adopted this concept of a single brand across all its businesses by abolishing the local brands in order to form a â€Å"global umbrella brand†. By leveraging the reputation and trust effects a ssociated with a strong brand image a firm can make use of various growth opportunities. To make use of the growth synergies that comes along with it, Swiss based bank UBS recently moved towards an ‘umbrella brand’. ... UBS officials viewed that the adoption of ‘one brand for all its businesses could convey the bank’s core values to the clients more effectively and consistently. The bank seems to be reaping the benefits of this umbrella brand. The brand value of UBS has increased from US$6.5 billion in 2004 to US$8.7 billion in 2006. Besides this the customers increasingly affirm to the key attributes of the bank like â€Å"UBS is a global power-house†; â€Å"UBS takes time to understand us† and â€Å"UBS has superior expertise† (Knoll, 2008, p.164). The strength of UBS is reflected from the rise in its brand value over the years. As per the survey conducted by Business Week in 2007 the bank’s brand value is nearly $9.8 billion and it ranks among the top forty most valuable brands in the world. The brand value of the bank enhanced significantly by nearly 13% in the year 2007. This is very important in making customer recall and leads to improved market penetr ation. UBS has an international clientele base. The global nature of its business operations creates additional value for its customers by integrating the expertise and resources of its various business segments. Competitive advantages of UBS- The strength of a business strategy is based on the competitive advantages that it enjoys as compared to the rival firms. According to Porter competitive advantage lies at the centre of the performance delivered by a firm in a competitive market scenario. This means that competitive advantages imply product differentiation, low costs etc (University of Northern Iowa, n.d.). The present business mix of UBS is a by-product of many years of development, acquisitions and internal growth. UBS has consistently worked towards

Consumer Culture in terms of Social Status and Identity Essay

Consumer Culture in terms of Social Status and Identity - Essay Example The global arena, as experienced in the contemporary arena, has undergone through various changes, as historically provided. History provides a review of the evolution of Man, which culminated in great advancement during the past two centuries in terms of different contexts. The 20th century was indeed the hallmark of human irony, where various contexts influenced and were in turn affected by human civilization. Thus despite the clashes of human ideology, which inadvertently resulted in two deadly global wars, and a 45-year long Cold war, the real winner of all this was an unlikely candidate. What do I mean by this? That while the United States became the eventual global leader, the century did not culminate in its political ideas’ dominance in global affairs rather it was the concept/ aspect of consumerism that won. Consumer culture, individualism, individual strive for success, and materialism became the dominant identity factor, which portrayed then and still does, Man’s ultimate gains (Cross, 2002). While the political and economic spheres had been influential in humanity’s existence, as portrayed throughout history, it is the 20th century, which ultimately defined Man. In the superpower itself, and increasingly across the globe, the visions of a political society of active citizenship and stable, shared values did not become enshrined in the human subconscious. Rather, the seemingly passive, yet dynamic society became ingrained in material consumption in the manner. Jhally (2006) portrays that this is what has come to define our current society, the geopolitical, social and economic factors notwithstanding. To augment the aforementioned drive has been the greatly influential aspect of globalization. Despite the great expansion of government, the very basic ideal of political life being primary to social coexistence and human interaction, it has receded to the  background; paving way for a consumer public.

Psychological Portraiture Essay Example for Free

Psychological Portraiture Essay Another distingished legacy that Halsman left behind was essentially a product of a probing psychologist in him who could treat his subjects with a deep insight and empathy and could make them reveal their characters in profound and extraordinary shades, which he eventually employed superbly in his works of photography. Also, with courteous manners, sauve witticism and stylish European accents, Halsman could establish an immediate connect with his American subjects (who, incidentally, dealt with psychology with an amused cynicism, of sorts) which greatly facilitated him to extricate the very best out of his subjects with rare aplomb and liveliness. In fact, he employed an extremely innovative technique, when he worked on a photography session with Marilyn Monroe, on an important assignment from Life. He made her stand in a corner and took around 40 –50 snapshots, as encircled by few admiring men, Monroe could put her spontaneous and effortless best as she ‘smiled, flirted, giggled and wriggled with delight† and enjoyed herself superbly, there-by, almost unknowingly, giving a large number of photo-opportunities to Halsman, who utilised the same to rare perfection. (Jones, 2001) While Halsman could craftily avoid any livid or lurid references of any â€Å"physical assests† of his character (an off-shoot of his somewhat traditional disposition? ), he was a modernist enough in his approach to employ all his subtle finery and sophistication to provoke his subjects into actually emoting the best reactions which, in effect, constituted the very staple of his subject of portraiture photography, bringing him world-wide recognition and acclaim.

HOVENSA: Economic Boost and Environmental Disaster Essay -- Environmen

By far the largest private employer in the Virgin Islands, HOVENSA has decided to cease operations, despite the ongoing economic crisis plaguing the territory which desperately relies on the refinery’s vital tax revenues. Nevertheless, the company cites its present fiscal woes as the primary reason behind such a brash decision. In so far as, fluctuating oil prices brought on by various world events, in concert with other minor details including the manner in which the plant is run and the amount of expenditures incurred, have caused the oil giant to generate about $1.3 billion dollars in losses. What seems odd are the events is the surrounding environmental issues which have plagued the plant during 2010 and 2011, which caused the Environmental Protection Agency to sanction the company with a $700 million dollar mandate. Such legal action taken was the result of a series of mis-steps with the refinery’s engineering/environmental protection practices, resulting in one of the worst environmental disasters to hit the territory. HOVENSA came about as a new joint venture in the region between parent company, Hess Oil, and state owned oil company, Venezuela National Oil Company. Beginning in 1966 however, we notice that the precursor to HOVENSA, Hess Oil Virgin Islands Corporation, was seen as more of an economic miracle rather than a disaster in the making. Years subsequent to 1966 witnessed a continued expansion of the oil refinery petroleum producing capacity, essentially elevating it from what was known as humble operation to what would be considered to be a monolithic organization. Whether that included the refineries increased capacity from 45,000 barrels a day to well over 500,000 barrels a day, or the company’s innovative te... ...vironment is once again held paramount. Works Cited 1) Blackburn, Joy. 2011. "EPA launches HOVENSA air quality study." Virgin Islands Daily News, The (St. Thomas), February 16. 2) "Nation's Second Largest Refinery to Pay More Than $5.3 Million Penalty for Clean Air Act Violations." Allvoices. Web. 02 Mar. 2012. . 3) "Government De Jongh Seeks Federal Assistance in Aftermath of HOVENSAClosure." Governor John P. DeJongh. Web. 02 Mar. 2012. . 4) "HOVENSASt. Croix, U.S. Virgin Islands." EPA. Environmental Protection Agency. Web. 02 Mar. 2012. .

Kwanpen Case Study

Consumer Behavior: Singapore and desire for luxury: Singapore is among the top 10 destinations for luxury brands worldwide (69% of all usury retailers present). Luxury stores are present everywhere in the city more particularly In Orchard Road and shopping centers. Between 2006 and 2010, sales of luxury goods grew by 18% 1. Even if the sales have slowed down during the scrolls of 2009, they rose again In 2010 The luxury goods become more and more popular whatsoever watches, clothes or handbags.One of the mall reasons of this trend Is the growth of high-income households. The annual disposable incomes above US $75,000 increased by 4% between 2006 and 2010, so more Singapore are able to afford luxury goods. On the other hand their awareness to luxury brands (especially European ones) increased significantly. Luxury brands take more and more importance in lifestyle magazines and all others advertising mediums. We know that usually Asian people attach importance to the image. When they b uy a product they think about the image returned by this product.Many business men and women, with high Incomes, deal with foreign clients; they want to present a groomed Image. That Is the reason why they are willing to buy luxury products. Other high-income earners In Singapore are the experts. They tend to buy luxury goods and then Influence the local trends and the way Singapore see luxury products. This desire to own luxury brands coupled to high incomes and advertising presence in Medias will maintain and increase the demand for luxury brands. Luxury companies expected to benefit from important sales over the forecast period.However, growth of luxury goods seems not be able to affect non-luxury products, because most Singapore are still prudent with their spending. Why Singapore prefer global brands instead of local brands? 2 â€Å"Rider's digest trusted brand survey 2008†, 23 April 2011, My Paper According to the newspaper â€Å"My Paper† market survey, 26% of S ingapore favor local brands (so 74% favor global brands)2. Even if there are many strong local brands such as Tiger or Singapore Airlines the support of home- growth brands Is very low.So we will try to understand why Singapore have a preference for global brands instead of local brands. The mall reasons that come In mind are that Singapore attach a lot of Importance to their Image. The 2 notions of status and belonging are key points of the Asians consumer behavior. Singapore is a modern society Tanat Keeps peep collectivist relations slantingly. The Singapore society is highly, individuals are strongly sensible of their place thin the group, institution or society as a whole, and their attitude, dress and speech corresponding to their status.They are extremely fussy about the need to keep their dignity. They attach great attention to the choice of products; prices, brand and presentation should reflect its own social status. As to personal appearance, color, material and style of clothing, they must match the social status that defines the age, sex, occupation†¦ Singapore wear luxury goods show to others that you are part of high class. The quality of the product has less importance than the image that the brand will reflect. Awaken has the opposite positioning in Singapore.Belonging It is essential for Asian people to be accepted by his peers and the fear of rejection, exclusion, is intense, creating a need to always be part of the trendy and fashionable group. Singapore have a different approach of buying luxury goods compare to westerns people. They buy this kind of product to be a part of a group, because the trend is to buy western fashion products. It is a consequence of the westernizes. PERSONAL We can compare the Moscow pyramid of the western people and the one of Asian people.It appears that personal need which is very strong in western societies sonnets exist in Asians societies. Status Self-actualization SOCIAL Admiration Affiliation Belongin g Prestige Safety PHYSICAL Physiological The statement that Singapore prefer global brands can be contradicted by the fact that there are only a few Singapore brands, so we have the feeling that Singapore do not support their own brands. But in many industries and especially in the fashion industry, local brands suffer from the comparison with global brands.For the case of Awaken it is obvious that the brand is subjected to this specific consumer behavior. But in an other hand Awaken achieved to succeed n Hong Kong, a very similar market than Singapore. We can explain this by many facts. First Awaken is not seen as a local brand in Hong Kong, they overcame the Asian consumer behavior difficulties. We will now explain what the main defaults of the brand which prevent Awaken to succeed in Singapore. Brand equity & Obstacles 10 netter unreason ten salmonella's customer Attlee towards Awaken, lets study the key components of Awakener's brand equity.Thanks to the brand equity definition, 3 keys have to be taken in considerations: â€Å"The differential effect†, â€Å"the brand knowledge† and â€Å"the consumer response to marketing†. In the luxury market, the differentiation is based on what the brand reflects to the costumer and less on what the product is. Awaken is trying to differentiate himself from his competitors on the product characteristics (handmade, crocodile skin†¦ ). The Awakener's differentiation strategy is not appropriate with the luxury market where the differentiation is done through the brand image since the quality is implicit.Therefore there is a lack into the Awakener's brand equity. Since the three keys of the brand equity are pretty linked, the brand knowledge is weakened such as the consumer response to marketing. In order to give some recommendations to Awaken, it's relevant to focus on the sources of brand equity in order to understand what goes wrong with Awaken. There are three sources of brand equity that are : brand association, brand awareness and brand accessibility The brand awareness is the extent for a customer to recognize a brand and its elements.Awaken does not have a lot of brand awareness. Indeed, as our opinion poll pinpointed only 21% of the people do know that the brand exists. Moreover only 8% of the people recognized the brand logo and 59% did not really like it. Therefore it's hard to create a favorable attitude toward the brand and receptiveness to the message. The accessibility of the shops reinforces the brand awareness. Accessibility is how easy it is or how easy it seems to be, for customers to interact with and to purchase the brand.In the case of Awaken this component of the brand equity is well done since the number of point of sales correspond to such a product ‘E: one or two maximum in each principle market. This kind of strategy with a very exclusive distribution channel is very efficient especially in the luxury business. However the flags ships are a b it less luxurious and with less mantra than the other brands. For all those reasons, even if the accessibility is a drawback and could be improved. The last source of brand equity is the brand association. Brand association is relative to past experience between the customer and the brand.Product use and advertisement are the basis of this concept. As Awaken is not wildly spread in Singapore and does not do any advertisement, the costumer cannot easily associate the brand to anything. According to our opinion poll, it's clear that a large majority (79%) of the costumers does not have any mental association for this brand since they don't know the brand. For those that know the brand (21%) the mental map is as follow: As we can see on the mental map ( appendices B) all the associations that are made with the brand are very material and none is related to brand universe, Which is a basic feature in the luxury market.Now lets consider the uniqueness of the selling proposition that is à ¢â‚¬  fashionable, handmade and high quality crocodile product that last for life†. This positioning is quiet unique and in one hand can be a compelling reason to buy product from the brand but in the other hand in this market it's debatable whether this proposition is efficient. Indeed, the kind of costumer that buy products for the quality are not focus on fashion and are more likely to appreciate very classic model with a style that will last over the years.Last but not least the colors are too flashy for such a proposition ii a 30 years old woman can appreciate a pink purse but will it be ten same when seen Is pyramid of Awaken. Considering all tense International we can Dull As it appears on the pyramid some part of the pyramid are missing. Therefore we can conclude that the brand has not built a brand image yet. In Singapore their target market is very narrow. Indeed they target people with high incomes that are only looking for quality and don't care about consideratio ns such as: the image that is shown by the product.In Singapore people buy product to be part of a group and the rich people group like to buy European brands. Therefore the target market is very narrow. Recommendations Awakener's marketing strategy is not efficient. Gingersnap's market is a particularly one, as we pointed out in our first part. We do really think that Awaken should first redefine the target. The target is not clear, so the positioning does not match with the target expectations. So the positioning should be created for this specific target. Now, the positioning is focus on the product characteristics.But in a luxury market customers are less likely to buy a product for rational reasons (product's characteristics) than irrational ones (brand universe). So the key points on which Awaken should work salience, imagery, feelings and resonance, that is to say the missing points of the CUBE pyramid. Nowadays Awaken focus only on the product and the quality, they should de velop their brand. The brand is not valuable in Singapore. They do really have to work on the brand equity. The salience can be improved by the communications. As we mentioned Awaken do not use the media and either did not do any advertisements.So our recommendations to fix that would be to launch a communication campaign into specialized Medias, such as fashion magazines (Vogue, Ell†¦ ). We could also imagine exposing Awaken handbags in window-store in luxury hotel halls The biggest obstacle concerning the imagery is that Awaken is not seen as an international luxury brand. As explained before Singapore are more willing to buy global brands products instead of local rand's especially in the luxury market. Awaken cannot hide its Singapore origin, but the can make the customers forget about it.For instance they should hire western models instead of Asian ones and do brand endorsement with international stars which are particularly famous in Singapore. It will also show that the brand is well- known abroad. According to our opinion poll Awaken has no dominant â€Å"feeling†. They should develop the image of the brand so that they would be able to make the customer have specific feelings when they buy a handbag. The main feelings that must be developed are the social approval feeling that is common to almost all luxury brand and the security feeling to differentiate itself from its competitors.For instance they could associate themselves with a very famous international luxury watch company (as Jaeger Lecture or Role) to make crocodile skin bracelet. Consumer will associate the feelings of security and social approval of the watch brand with Awaken. And it will increase the international image of Awaken. The last feeling that Awaken should work on is the resonance. They should work on the brand universe to increase customer loyalty. Entering Into a Awaken snoop NAS to De a unlike experience. I nee should increase their shop standards.