Martha Stewart: Organization Ethics of Insider Trading

On December 27, 2001, Martha Stewart made a decision that changed her life, and the decision jeopardized the livelihood of her stakeholders. Ms. Stewart received a call from her stockbroker’s assistant letting her know that Dr. Samuel Waksal was trying to sell his holdings in ImClone. Dr. Waksal was the chief executive officer and founder of ImClone, and he had just received notice from the Food and Drug Administration that the drug Erbitux did not receive approval to be used as a cancer drug. Stock in ImClone was at a high due to expectations of Erbitux getting approval, and once the news of it not getting it reached the public, Dr.  Waksal knew that the price of its stock was going to decline. (Carroll & Buchholtz, 2009, p. 814) This is an example of insider trading. â€Å"Anytime a company executive or employee buys or sells stock in the company that person works for, an inside trade has occurred. † (Newkirk, 1998) In this essay I will explore who the ‘insiders’ were that knew that the stock was in danger, and the people who did not know. I will examine how Martha Stewart’s decision affected her company, Martha Stewart Living Omnimedia, and what she could have done differently. The concept of insider trading is when a person has knowledge, positive or negative, that can impact a company’s stock price and a trade is made based on that knowledge. Insider trading is illegal. Martha Stewart â€Å"acted on inside information when she sold 3,928 shares in biotechnology company ImClone Systems†. (White, 2006) The Securities and Exchange Commission (SEC), the federal agency that has the responsibility of regulating stock trading in the United States, alleged in its case against Ms. Stewart that she received an illegal tip from her broker Peter Bacanovic. The tip was that Dr.  Waksal and his family members were selling their shares of ImClone stock. Bacanovic was the broker for Dr. Waksal and for Ms. Stewart. (White, 2006) When insider trading takes place, there is a select group of privileged people who have information about the stock’s possible rise or fall. In the case of ImClone, Dr. Waksal let certain individuals, his father, his daughter and his broker’s assistant, know that a change was about to take place with ImCone stock by attempting to sell his shares. These are the people that the investigation revealed did ImClone stock trading on the day before the news become public. Martha Stewart found out about the news when Bacanovic’s assistant, Douglas Faneuil, notified her that Dr. Waksal was selling his holdings. (Hurtado, 2004) Each person who sold their holding in ImClone on December 27, 2001 with knowledge of the possible decline participated in insider trading. The other individuals that owned holdings in ImClone were not privileged to that information, they did not have an inside advantage. The two parties who knew ImClone’s stock was going down and the people who did not know have several things in common. They all felt that ImClone’s stock was a good investment and they were all about to loose money once the FDA’s decision was made public. The difference between the two parties is one had a closer connection to the executives of ImClone and the other did not. High level employees of an organization are privileged to insider information. The spouses, friends, bankers and lawyers are connected to individuals who have â€Å"awareness of material information that’s not publicly available† to everyone. (Clark, 2009) Martha Stewart and Dr. Waksal were close friends at the time of the ImClone scandal. This allowed her to have an inside advantage. When Dr. Waksal received the news that the FDA was not going to accept Erbitux’s application for approval, he had an ethical dilemma. He knew that he could not control what was about to happen to ImClone, but he wanted to â€Å"minimize his losses, and maybe the losses of some family members and close friends†. (Carroll & Buchholtz, 2009, p. 814) Dr Waksal; his father, Jack; his daughter Aliza; and a number of close friends had significant investments in ImClone†¦Of course, elling his stock and advising his father, daughter, and friends to sell their stock would reduce their loses†¦ Dr. Waksal was faced with a tough decision. On one hand, he could refrain from engaging in questionable trading practice and thereby incur a significant amount of losses in his investment. On the other hand, he could choose to sell his stock based on the information he received, reducing his investment losses, but violating the law and ethics of fair trade. (Carroll & Buchhlotz, 2009, p. 814) Dr. Waksal influenced each person he told about the FDA’s decision and each person who knew he was trying to sell his holdings. When the head of an organization decides to sell his/her holdings in the organization, knowledge of this greatly influences others to do the same. Once Martha Stewart became aware of the possible decline in ImClone stock, she had a decision to make too. Her decision was whether to do nothing or to sell her stock. The decision she made affected more people than just herself. It affected every stakeholder she was associated with at that time. This included her employees at Martha Stewart Living Omnimedia (MSO), customers and competitors of MSO products, the Kmart Corporation, CBS’s â€Å"The Early Show† where Ms.  Stewart was a style contributor, and other business leaders and the public. Employees of MSO were left wondering if their jobs were in jeopardy, customers and competitors of MSO did not know the fate of the company, Kmart’s revenues suffered, Ms. Stewart was no longer needed at CBS, and the public was left with mixed views. The ethical thing that Ms. Stewart should have done that would have spared her company’s reputation and prevented the public scrutiny that each company and person close to her had to endure would have been to not act on the tip she received about ImClone’s stock. The company’s reputation would have been saved and Ms. Stewart would have saved money. She avoided a loss of $47,673 by selling her stock in ImClone before the news of the FDA’s decision was made public. (White, 2006). â€Å"The cost to her of selling that stock, factoring in penalties, restitution, and legal cost has been estimated to be about $300 to $400 million. Furthermore, had she held on to her shares of ImClone rather than selling them, she would have made a nice profit†. (Carroll & Buchholtz, 2009, p. 17) In February 2004, after a new clinical trial and refilling by ImClone’s partner, the FDA approved the use of Erbitux for colon cancer and the price of its stock soared again. (Carroll & Buchholtz, 2009, p. 816) Dr. Waksal’s punishment for his actions was the maximum sentence of seven years in prison and he was asked to leave his position at Stanford University, the National Cancer Institute of the National Institutes of Health, Tufts University School of Medicine and Mount Sinai School of Medicine. He also lost his position of CEO with ImClone and he had to pay a fine to the SEC. His plea agreement with the government and his admittance that â€Å"he tipped undisclosed individuals to dump their stock before the FDA decision was made public† spared his father and daughter from facing charges. (Carroll & Buchholtz, 2009, p. 815-816) Dr. Waksal’s and Martha Stewart’s stockbroker, Peter Bacanovic, was sentenced to five months in prison, five months of house arrest, and fined $4,000. Bacanovic’s assistant, Douglas Faneuil was fined $2,000. (Hurtado, 2004) The original investigation of Martha Stewart was for insider trading, but she was not indicted for insider trading. A spokesperson for Ms. Stewart denied the allegations and insisted that Ms. Stewart had a prearranged agreement with her broker, Mr. Bacanovic, to sell ImClone stock if it fell below $60†¦Her assistant broker, Mr. Douglas Faneuil, however, claimed that such an agreement never existed and that Ms. Stewart sold her four thousand shares of ImClone after she learned that Dr. Waksal and other family members had dumped their stock. (Carroll & Buchholtz, 2009, p. 815) Ms. Stewart was indicted on nine federal counts. The nine-count indictment alleged that Stewart altered evidence that she traded on inside information about the biotech company ImCone Systems, conspired with her stockbroker to lie to federal officials investigating the trade, and defrauded shareholders in her company, Martha Stewart Living Omnimedia, by misleading them about why she had sold the stock†. (Carroll & Buchholtz, 2009, p. 815) Martha Stewart was found â€Å"guilty on four counts: obstruction of justice, conspiracy, and two counts of making false statements†. (Carroll & Buchholtz, 2009, p. 816) Ms.  Stewart’s punishment for her crime was five months in prison, five months in home confinement, and two years of probation. The fines she had to pay included $30,000, and $195,00 that included the $47,673 she saved by selling her shares in ImClone plus $137,019 in penalties that represent three times the loss avoided amount. (White, 2006) â€Å"In addition to the fine, Ms Stewart agreed to a five-year ban on serving as a director of a public company and to limitations during those five years on the extent of her service as an officer or employee of a public company†. (White, 2006) Ms. Stewart resigned as CEO and chairman of Martha Stewart Living Omnimedia on the same day she was indicted, but remained on the company's board. She also â€Å"resigned her position as board member for Revlon and the New York Stock Exchange. † (Carroll & Buchholtz, 2009. p. 816) Some think Ms. Stewart was justly tried and convicted, while others think she was a scapegoat for larger corporate scandals. My opinion is that the punishment given to Ms. Stewart was fair. The maximum amount of time the crime she was convicted for can be unto 20 years in prison. (Hoffman, 2007) Regardless of whom you are, consequences should follow when the law is broken. Martha Stewart broke the law in a minimal way, so her punishment fits the crime. When shareholders invest in a corporation, they do so to make a profit. The money they invest is used in several ways by the corporation. It is used for product research and development, improvements, overseas expansion, and to keep the company afloat in tough times. If the company is not successful, the investors loose money. If the company is a success, the investors are rewarded with higher values of their stock shares in the company. (Clark, 2006) Martha Stewart’s action brought an initial loss for her investors. Advertising sales plunged at MSO’s magazine when the incident began. â€Å"MSO stock plummeted by 60 percent after the charges were made public†. (Carroll & Buchholtz, 2009, p. 815) However, â€Å"when Ms. Stewart received the minimum sentence, the stock price of her company rose by 37 percent†. (Carroll & Buchholtz, 2009, p. 816) Before the ImClone scandal in 2001, Martha Stewart’s products were sold in Kmart and she was the CEO of MSO. During the ordeal, her magazine Martha Stewart Living loss advertising sponsors and pictures of Ms. Stewart were removed from the magazine. Less than three years after she got out of prison, the magazine showed an increase in advertising pages, pictures of Ms. Stewart are back in the magazine, she has a channel on Sirius satellite radio, she has a new magazine called Blueprint for younger people, and she has a line of homes with KB Homes. â€Å"In 2006, she published Martha Stewart’s Home-keeping Handbook, a 744-page guide to all things domestic†. (Carroll & Buchholtz, 2009, p. 817) As of today, MSO is a thriving organization. Martha Stewart has a line of products at The Home Depot, PetSmart and Macy’s, along with The Martha Stewart Show on the Hallmark Channel. The company reported $49. 7 million for its third quarter earnings in 2010. (â€Å"Martha Stewart,† 2010) Prior to the ImClone scandal, Martha Stewart owned a magazine, her products were in Kmart and she worked for â€Å"The Early Show†; after coming out of prison, she still owns the magazine, her products are with more prominent companies, she has her own show on television and her organization is still making profits. The relationship she had with her stockholders may have suffered during the scandal, but today the relationship is mended. Ethical and public issues must be considered in a stockholder relationship. Decisions made by executives can have enormous effects on a company which can then cause negative and/or positive changes in a stockholder’s shares depending on how the public receives a brand or corporation once it has gone through a scandal. Loyalty to the Martha Stewart brand has helped the company to endure through the storm of the scandal. (Carroll & Buchholtz, 2009, p. 816) Shareholders should be considered when decisions are made that are unethical or that could be harmful to the company’s public image.

In Exile Poem Analysis (Arthur Nortje) Line By Line

English 101D First Assignment Unique Nr: 826883 Dedre Immelman Student nr 5012-960-0 In Exile  Poem Analysis (Arthur Nortje) Line By Line Question 1 The poem â€Å"In Exile† was written by Arthur Nortje in the 1960 – 1970 period. There could be different interpretations to the meaning of the title â€Å"In Exile†. Arthur Nortje won a scholarship to study at the Jesus College at Oxford University. Arthur became one of the privileged few â€Å"chosen† to further their education outside the borders of South Africa. Can he be seen as truly in exile? I will argue that the title of the poem is relevant and is a reference to the personal feelings and experiences of Arthur Nortje during his time spent in England and Kanada. This poem was written during the time period 1960 to 1970 – during this time South Africa had a volatile political situation and many a young activists fled the country. As mentioned, the poet did not flee the country but this title can be seen as an identification with those fellow South Africans in exile as well as a emotional reference to the feelings one experiences when you leave your country of birth and need to settle new roots in the soil of a new country. In Exile† indicates that something or someone is unsettled and not in their place of true origin. They have moved away – either voluntarily or by force. The title does not indicate whether this exile is a positive or negative experience. It does however refer to an action because exile indicates motion. One other aspect worth conside ring is the fact that the poet was born from a mixed couple and classified as colored. This could have left him with a feeling of alienation and the social implications could have left him with a feeling of being in â€Å"exile†. Question 2 The poem could be seen as a lyric description of the poet’s feelings. The poet is writing about 2 things – his country of origin and his feelings of desolation and possibly anger towards his birth country. Secondly, he is painting a picture of a landscape in his new adopted country. Nortje often uses imaginative landscapes to compensate for his personal dislocation and feeling of isolation. It also refers to South Africa and the political isolation characteristic to certain groups of our population during that period of time in our history. The communicative aim of the poet is to tell the reader more about the feelings of isolation he experienced and how wounded his soul was. It also refers to South Africa and the political and emotional context of fellow anti-apartheid or rather non-white patriots during that time. He is strongly relying on connotations in the reader’s imagination to bring his story across. A picture is painted of a current landscape but the poet makes you realise that you can’t see the beauty of a new picture without dealing with the hurt of the past. Question 3 The poet is relying on the readers understanding of the political and economic situation in South Africa during the time period in which this poem was written. In the first line â€Å"Open skies flare wide enough† – this is the first reference to the power of memory because the word â€Å"flare† could be a reference to the noise and action when a grenade explodes during war. The flare is often seen and heard when the grenade explodes. In the second stanza, the poet refers to â€Å"boots passing through† – this could be a reference to the unseen soldiers of apartheid South Africa passing through the townships at night to make sure no non-whites were out in the street. If you have experienced South Africa during that time, the boots passing through will remind you of oppression and fear or on the other side it might remind you of protection and hope. The words â€Å"wrong pigment† gives the reader an indication of a situation where people are judged simply because they don’t have the correct appearance – their skin color is unacceptable and thus they are unacceptable. Question 4 The poet is referring to storm clouds in his past and also to clouds in the history of South Africa. He was declared â€Å"colored† in the time when this ethnical group faced many adversaries and oppression in South Africa. He is using a picture of a landscape to refer to the political isolation in South Africa during that time. It could also be a reference to the repetitiveness of the storm clouds – they have been there before and they will probably be there again in the future. He has experienced hardship in South Africa and he is probably experiencing hardship again in his new country. Question 5 In view of the title and substance of the poem, it seems like the description of the boots passing through is a reference to the South African Armed Forces and specifically soldiers marching. It could be a reference to the enforcement of the group areas act – people were forcefully moved from their homes by soldiers. The noise of their boots must have left many fearful. Alternatively it could also be referring to the political unrest of that period in South Africa. Non-whites started standing up for their rights and the government tried to squash it by using the military to enforce their apartheid laws. Question 6 The poem is primarily about a person in exile remembering certain images from his home country whilst referring to new experiences in his adopted country. Nature is used to describe certain emotions and feelings. If we look at verse 14, reference is made of paradise. It is poignant as the overall concern of the poem is about negative experiences from both the past and present. However, the speaker uses the word paradise to tell us that we can choose to remember the good things about our past. Our memory and associations can help us remember the good things about our past. South Africa is not all doom and gloom – there are positive experiences as well. Question 7 The word benign, indicates that something/growth is not cancerous or negative. Benign indicates that it is good-natured or favorable – doing very little harm. The speaker could be referring to actual hunger or a spiritual hunger for a little sunshine that is hidden behind a cloud. The cloud is not life threatening but it is keeping the speaker from reaching his full potential or target. There is hope that this cloud can be overcome as it is benign. If one looks at the content of the poem, it is clear that the speaker is looking at a beautiful landscape and he is trying to see the positive aspects of both the picture and his life. However, he has a benign cloud covering his picture. The reader needs to answer the question â€Å"if it is possible to see the sun with this benign cloud of the past obscuring it? † Question 8 â€Å"In Exile†, by Andrew Nortje speaks to the reader from the first word in the title to the last word in the last stanza. If one looks at the content of the poem, it is clear that the poet is painting a picture of a landscape in front of him. He is making reference of open skies with strands of clouds, winds sweeping through the towers of buildings and his clothes trembling in the wind. He is also thinking about an imaginary picture of the sea. However, from the first stanza, the reader is reminded of a different landscape in another â€Å"exiled country† The poet is painting a somber picture of skies where we get flares making us anxious, soldiers passing through with their boots making noise, wrong pigment leaving you without hope or opportunity and bad memories clotting your vein of memories. At the end, the reader draws the conclusion that one can’t build a new picture of beautiful sunny days and wind still situations without making peace or taking into consideration, the memories of the past. I think the message of this poem is positive. In the beginning everything reminds the speaker of his horrid past – even blue skies with thin wispy clouds remind him of South Africa and the fear and anger he experienced there. He has definite negative feelings towards his country of origin. However, as time passes one gets the feeling that the speaker is growing into the understanding that one has to deal with the past in order to survive the present. He realises that one’s soul will decay even in exile if you don’t stop the negative memories from the past and start building a new picture with a positive attitude. One can never leave the past behind but you can turn the malignant memories into benign clouds. The poem is a free verse with no specific rhyming except in the 4th stanza. It is interesting that we only have one incident of rhyming and that is in line 17 and 19. The poet refers to â€Å"wrong pigment† that has no future and this gives the reader a strong indication that he was feeling rather negative and angry about the classification of people according to skin color. He uses 5 stanzas with no specific and they differ in length from 4 lines to 6 lines each. I think the effect of this single rhyming verse is very important. It clearly indicates the importance of the fact that once the poet was judged and classified as colored – it stayed with him and impacted his whole life. The poet used personification to help the reader understand the untold story of his past. In the first stanza the reader is told that the open skies made the poet anxious and that clouds are tracing patterns of the past. The reader gets the first indication that the poet is feeling estranged and sad about his past. He is telling the untold story of war and anxiety, things that happened in his past. The poet is using alliteration in certain instances to emphasize the stories f the past. â€Å"My heart is hollowed with the boots passing through† and â€Å"garments gather† are examples of alliteration. If we look at the language used in this poem, there is a change in tone in the poem. In the first 3 stanza’s a description is given of a nature scene or rather that is the first impression. On closer inspectio n, the reader learns about the fear experienced in â€Å"open skies† in Africa, clouds reminding you of the horrible past and wind reminding you about the horrors of the past – of boots of soldiers creating fear, anger and sadness. It seems like we are lost in the picture of the past. A perfect paradise seems impossible but then in the 4th stanza, the poet states that we to meet certain conditions in order to keep your soul from decay. In order to see your new paradise, you need to realize that you have to stop the vein of bad memories and build a new positive picture of your present life. The writer reaches a turning point in the last stanza. He no longer only seems to remember the ugly pictures of the past. He is building or describing a new nature scene by building a new picture on a sand slope. It is still very vulnerable and the grains slide away easily. However, his past is now only a benign cloud that obscures the sun. He can choose to look at this new positive landscape or picture of the sea and get hope. His past will always be part of him even in exile; however, the reader is brought to the point where he or she can choose to look at the sun through only a benign cloud. I think the use of the words â€Å"the soul decays in exile. But wrong pigment has no scope† are very important when analyzing this poem. It seems to be a turning point. This is the essence of what is hurting the writer and causing him to feel estranged and in exile. He realizes that he will not move forward as long as he only thinks about him being colored and that his soul will die if he doesn’t move on. I think the writer has succeeded in using imagery to relate the untold story of South Africa and his walk through life. He has told us about his pain and anger and the feelings of abandonment experienced in South Africa. At the end the reader is brought to the realization that in order to make peace with ones past, and see the new beautiful landscape of life, one has to move forward to a point where the hurt and anger merely becomes a dark memory, shaping the way you look at your future.

Royal Army WW2 Letter Home

Dear Delyla, I'm sorry I haven't been in touch lately; things have been getting really bad over here. There are talks about going over the top but it must be nonsense, we'd all get killed if we did. I hope you all are well. My foot is getting better but I think it will be a long time before I'm fully recovered, the bullet only skimmed my ankle so I was quite lucky I can still walk. Thank you for the pictures, it's been a long time since I've seen your face and I was starting to forget it! It gets so hard out here sometimes you wouldn't believe. You try to sleep at night but there's a constant ringing in your head from the bombs going off and the guns being shot. Then there are the injured soldiers, god bless them for being braver than the rest of us, but it has been there downfall. The screams of pain are agonizing so much so that you yourself feel as though you are also dying a slow and excruciating death. I look at you and it makes me happy for a while, but then I think why I am here and it devastates me. I long to be with you again, to hold you in my arms, to feel your long golden mane flowing through my hands. I miss you dearly. Without you I am nothing. I long for the day I see you again my dear. The thought of what is to come is unbearable, if I was to die I would never forgive myself. But then again I have to fight for my country. There is power to be regained and you who I love the most and many more are counting on me and thousands to pull through and win this conquest. We all pray to God each night to help us, and I ask you to pray for us too. The boiled sweets that you sent me are delightful! I never ever thought that one day I would cherish the taste of a boiled sweet in my mouth! From this exuberating experience I have learnt so much. I now see the world in a completely different light. Its like the saying, you never know what you've got till it's gone, and now I know! I will never again take for granted the small things in life, and if and when I get back I plan to write a book about my hardship. People deserve to know what all us thousands of courageous soldiers have been through, as it should never be brought upon any sole again. We should all be able to get along in life, nobody should lose lives for the sake of such trivial things as land and belongings, its ridiculous. If only us men weren't so obsessed with power. If this be my last letter to you then I want you to know something. I love you more than anyone could love anyone or anything, ever. I think about you every minute of every day and it pains me so much to think of what you are going through without me, having to cope with our young baby and what not. But believe me, I would change it if I could. If this be the end then I bid you goodbye, my one and only love. I will meet you again in a place not so far away and we will be together forever once more. I'll love you for eternity. Mr.Jimbob Jones

Research Methods Essay Example | Topics and Well Written Essays - 1500 words

Research Methods - Essay Example To increase the effectiveness of research, it may be helpful to implement multiple research methods that are divided on qualitative and quantitative. However, each research method has its own positive and negative sides, some of which will be mentioned in the current paper. A bright example of pragmatic approach will be analyzed to show the role and effectiveness of specific research methods. Introduction Each science is based on the facts that can be received with the help of relevant and complete streams of information. All spheres of human life, including economical, political, technological, educational and social aspects, never stop progressing. However, to receive valid results and make germane conclusions, researchers require using specific research methods that can be characterized with a great abundance (McNeill & Chapman 2005). It is fair to state that each research approach has its pros and cons that is why for every research problem, the choice of the best methods should be made with special seriousness otherwise incorrect and irrelevant research techniques may bring the study to invalid and erroneous findings (Freeman, Robinson & Woodley 2004). Research philosophy In its widest meaning, the word â€Å"method† can be interpreted as a way to something and represents more an artificial than existed in nature the system of rules and operations (Kothari 2006). Basically, research methods are implemented to gather the full data base with the help of which a researcher is able to make appropriate conclusions and elaborate further recommendations on how to benefit from favorable consequences or eliminate the negative influence. According to Walliman (2011, p. 7), research methods are all â€Å"about advancing the frontiers of knowledge†. The usage of various research methods for one study increases the accuracy of the findings and helps to view the problem from the different aspects. Research approach The bright example of research combinatio n is the study of Luthans and Sommer, who based their results on both qualitative and quantitative methods. The article emphasizes how seriously the market conditions have been changed compared to previous periods of production relationships. Hence, the favorable results of each company’s performance are influenced by management’s policy aimed at the improvement of product characteristics, raise of product quality, decrease of total costs, increase of productivity and superiority over competitors (Luthans & Sommer 2005). It is important to persuade the target consumers that offered brand is better than the rest of analogues and it is considered that such scheme can be achieved only with the help of strong knowledge base of the company’s personnel, effective training programs, professional skills of senior managers and attractive motivational factors. The study provides extensive demonstration on how relevant management of human resources correlates with companyà ¢â‚¬â„¢s financial results. The main purpose of the mentioned research is to represent proofs regarding the significant impact of the efficacious system of human resource management on the favorable performance of an organization. The further objective of the study is

Drama Essay Example | Topics and Well Written Essays - 250 words - 1

Drama - Essay Example Henceforth, the attitude created by the actor in the stage is critical because that attitude determines the environment and the thought the audience will have towards the script. Learning the tactics of acting in a theatre is very important. The actor must familiarize with the character and afterwards learn the details of the subject, which will enable the actor to assume the character and blend with other characters in the vicinity. Before an actor presents the character to the society, the actor must subject the character to the society viewpoint. Brecht and Mueller argue that Stanislavski method of physical action as advantageous in modern acting (160). Brecht and Mueller explain â€Å"first rehearsals the actor show the plot, the event, the business, convinced that feeling and mood will eventually take care of themselves† (160). Therefore, Stanislavski method of physical action gives time to an actor to transform to the character and as the rehearsal proceeds, empathy and mood eventually develop. Brecht and Mueller states that, â€Å"Stanislavski speaks of rhythms which sweep across scene† (160). Sometimes, the rhythm may be insignificant in a scene because of the manner in which an actor expresses the words. In addition, I also agree that the use of images during acting bring forth a better understanding to the audience. Although, Stanislavski system may be challenging to some actors, the system has incredible method of harmonizing several weakness during acting. The system also provides a platform for learning to new and weak actors. Moreover, the system can measure the actor’s talent through the actor’s ability to manage incomplete

Complete College Design Presentation Research Paper - 1

Complete College Design Presentation - Research Paper Example Many fresh graduates are sailing in the same boat of poverty and unemployment. Even after graduating from colleges with good and competent degrees, the fact remains that many remain unemployed for long periods of time (Heckers, 2013). The growing technology has enabled managers to always post vacant positions on the website only to receive thousands of applications.   This means also that many resumes end up in the deleted folder. Economic status of countries have been blamed and marked as the key causes of unemployment among the fresh graduates. Levels of unemployment are positively correlated to the fluctuations of world’s financial situations (Heckers, 2013).   The same problem has been noted among the graduates and senior students who look for internships and contract placements. Even graduates have found it difficult to get volunteer positions because most companies think of spending more money. Most companies fear that volunteers are expensive to maintain and manage (Weissmann, 2012). Governments have also not designed ways of curbing unemployment brought about by the increasing number of graduates. Every year, colleges and university produces graduates in all fields while there is little done by the institution under consideration and the government to manage the situation appropriately (Wanping, 2004). Another reason for student related problems and graduates are lack of networking among the students. Correspondence between students and their seniors helps in integration of ideas and the new interface.

Disaster Resilient Engineering Innovations Essay

Disaster Resilient Engineering Innovations - Essay Example For a holistic approach to mitigating the impact of the catastrophe, a multi-stakeholders collaboration is necessary. For engineering plans to be successful, knowledge, researchers, and information from other disciplines such as geologists, sociologists, public administrators, information technology, the government and several others must be involved. With the experiences of the countries on the different types of calamities, the government and the concerned private groups that includes engineering organizations, continually devise plans and designs to make communities resilient and sustainable amidst the threat of natural disasters. This paper will present the innovations and initiatives implemented in the field of engineering to mitigate the impact of natural disasters, particularly earthquakes, flood, and tsunami. Earthquakes, flood, tsunamis, and other natural disasters have occurred in more frequency around the globe have caused billions of dollars lost and an unaccounted number of deaths. These natural calamities have challenged the stability of buildings, bridges and other infrastructures. Thus, engineers and planners have continually engaged in innovative engineering approaches in order to mitigate the impact of these natural forces. Floods, earthquake, and tsunamis, as well as landslides, cyclones, etc. have posted a major challenge to governments, much more than they have become a regular occurrence. 1 A great challenge to the government is to protect the lives of people and animals, as well as properties. 2 In order to attain these goals, engineering plans must be designed capable of bearing the force that these natural disasters bring forth. Also important is building of rehabilitation and medical institutions that could bear the load since victims will be treated in these facilities when a disaster strikes. 3 Rehabilitation and medical facilities must be constructed farther from fault zones and coastal.

De Beers Case Study Example | Topics and Well Written Essays - 2250 words

De Beers - Case Study Example This $400 million employs 760 people, working day and night. De Beers is at present being faced with a quantity of new challenges that are making it essential for us to believe a change in the way that they do business. With new chaos in Western Africa, where illegal diamonds are starting to come from war torn villages, as well as other sources of diamonds are being discovered in Russia as well as Australia, it is obvious that they seriously need to start to move into the U.S. market. Antitrust law permits the imposition of a maximum fine of $10 million, or twice the gain or loss caused by a price-fixing scheme. The indictment does not specify how much the scheme cost purchasers of industrial diamonds. (http://www.nytimes.com/2004/07/10/business/worldbusiness/10diamond.htmlex=1247112000&en=20aa08705cd558b8&ei=5090&partner=rssuserland) A PEST analysis has been performed on the current situation facing De Beers. In the following section, I will focus on the most important problems identified in the PEST analysis for which we must find solutions and also on the most important positive forces that we must leverage to our advantage in order to maintain or gain market share. Please see Exhibit 1 for details on the PEST analysis and additional information on other issues we are facing and forces that might help or hinder our market share in the U.S. The most important of the problems we are faced with are due to Political issues in the United States and elsewhere. Due to war in western Africa, diamonds are beginning to flow from the war torn fields of Sierra Leone and Angola, and in Russia, mines are being controlled locally as opposed to in collaboration with De Beers. These challenges alone pose a threat to the power that De Beers currently holds over the diamond industry. Due to these challenges, we initiated a branding campaign attempting to brand De Beers diamonds to the consumers. This campaign was cantered in the U.S., where "legally, the entire De Beers group - its officers, its operations, its marketing structure - was in violation of the U.S. antitrust law" .This prohibited De Beers from directly selling in the United States. Additionally, a political issue that we need to leverage to our advantage is the U.S. foreign policy towards helping to rebuild Africa. These political issues will be further addressed in the reco mmendations section. Economically, there is an expected surge in diamond sales expected to occur in the U.S. this year. This emphasizes

Forensic Psychology and Serial Murders Term Paper

Forensic Psychology and Serial Murders - Term Paper Example Whether it is fiction or truth, the serial killer has always found a place in modern society. Eventually serial killers are caught and it is often forensic evidence that puts them in prison. Once they are captured, they give the police who capture them important information to use into how to find others who commit these crimes. The purpose of this research is to examine the forensic psychology that may go into gaining a conviction of some of the most famous serial killers. The challenge is that this information is not always available and the researcher must examine what they can find and see how forensic psychology fits into it. In the cases of most of the famous serial killers, they did something that put the police on their trail. As an example, John Wayne Gacy and Jeffrey Dahmer had police come to their homes after someone escaped from their grasp. When the police entered their living quarters, they found evidence out in the open (though Gacy's was buried in his crawl space) tha t eventually led to their conviction. In this paper, I will examine some of the most famous serial killers: John Wayne Gacy, Ted Bundy, Stephanie Wernick, Jeffrey Dahmer and David Berkowitz. Each of these killers hunted other humans and they were subsequently hunted by the police, the FBI and forensic teams. Each was eventually found through something that they did, but forensic psychology had a hand in establishing their guilt and finally putting them in prison where they belonged. 1. Defining Forensic Psychology Although many people may think that forensic psychology is only about profiling criminals, there is more to it than profiling. In reality, forensic psychology blends several areas. It combines the civil and criminal sides of the justice system with the clinical and experimental aspect of psychology (Roesch, Zapf and Hart 3). Because of this blending, it has been difficult for experts to find an exact definition of this science. Instead, different organizations have created their own definitions. According to the American Board for Forensic Psychology, the definition for this science "is the application of the science and profession of psychology to questions and issues relating to law and the legal system" (as qtd. in Roesch, Zapf and Hart 4). This is a very vague definition and there are none that are more specific. In this paper, this definition will be used. 1.1 The Beginnings of Defining Serial Killers The term serial killer is not as old as people may think. It was actually coined during the David Berkowitz ("Son of Sam") hunt by an FBI Agent, Robert K. Ressler, who was an expert on serial murders (Simon 252). According to the FBI there are only about 200-500 people who are committing serial murders and they kill approximately 3500 people a year (Simon 19). The most heinous seem to be the ones that most people hear about in the news. There are many categories of serial killers. Some kill for sexual pleasure, some are mentally ill, and others are considered psychopaths. To convict serial killers, forensic evidence must be used to attach information that the police have found to the individual charged with the crime. 2. The Common Characteristics of Serial Killers All serial killers have similarities especially when they are categorized into the type of serial killing they do. According to Forensic Psychiatrist Robert Simon, serial

America Air Pollution Essay Example | Topics and Well Written Essays - 1000 words

America Air Pollution - Essay Example The air pollution was in the first industrial revolution because of massive amounts high-sulfur coal usage in the production process. Great amounts of industrial production largely used high-sulfur coal hence producing abundant SO2 into the air. Air pollution specifically in the cities is not a new encounter. In the Middle Ages, using coal in the cities had escalated. The challenge of poor quality of urban air as early as in the sixteenth century depended on the use of coal. After the first industrial revolution, the air pollution problem formed and developed during the second industrial revolution as a form of â€Å"smoke†. Many industries were located in the cities and towns. The fumes from these industries and the coal from domestic heating in the home made the levels of air population in the urban region be high. In times of foggy situations, the level of pollution increased leading to the formation of urban smogs (a mixture of fog and smoke). This made the cities in America to be brought to a halt, interfering with the traffic and causing the rates of death to increase dramatically. The influence of pollution on vegetation and building was obvious. In the year 1960 to 1990, the congress of the United States enacted a number of clean air acts that were useful in strengthening the air pollution regulation. These initiatives were followed by many states in the United States. The Clean Air Act established some numerical concentration limits of th e basic air pollutants thus giving the reporting and mechanisms of enforcement.

Advertising Objectives Essay Example for Free

Advertising Objectives Essay Furthermore, Budweiser’s mission is to pursue a long-term growth strategy by pursuing high consumption markets and attaining a firm market share among competitors. Budweiser has a strong brand name domestically, but for this particular region it will need to implement a penetration strategy. Also, Budweiser will focus on securing valuable distribution channels including pubs and supermarkets. The product positioning strategy reflects competitive pricing and product differentiation. Inherently, the product reflects cultural values of the target country, with attributes such as caffeine and local flavors that represent regional preferences. The brand may potentially increase market share via acquisition of equity investment. Tactical Details Product Various product attributes will be localized to appeal to consumer tastes such as a diet/lighter version beer with caffeine. Offering smaller glass bottles, which align with European consumption volume trends, will differentiate product packaging. The beer base content will be standardized but with local flavors based on market research. Also, based on potential research findings there is a possible product extension for an â€Å"all-natural† beer within the Austrian market. Additionally, products will be available in mini kegs to support the younger market segment behavioral characteristics. Advertising Implementing TV, Radio, Direct mail, Print ads, and Internet will be necessary to keep up with competitive advertising within this region. Messaging will focus on initially creating awareness. Ultimately, message strategies will portray a global brand through localized messaging. Internet advertising will be highly influential for the demographic market segment. Advertising will include viral ads, flash advertisements, and promotional incentives and incorporate sites such as MySpace and blogs (for the younger generation). Furthermore, sponsorship from popular celebrities or musicians for events and products will appeal to the target market. Personal Selling Face to face education via account executives with clubs/pubs will be imperitive to create awareness and motivate front-line distributors. Additionally, face-to-face points of contact in grocery stores and super/hypermarkets will be important in order to impact this a vast portion of purchases. These tasks will be contracted out to a local sales force that understands the culture, industry and competitive environment. Routine follow-ups and frequent interactions will be emphasized in order to maintain strong distributor relationships. Sales Promotion Incentives will be offered to club owners, super markets and so forth that will be based on volume discounts. A sales contest will also be commenced across the club/pub segment and the supermarket segment to increase purchases, emphasize product push through distribution channels and create awareness for caffeinated beer. Sub-brand specific websites will offer promotional incentives as well (BOGO, etc). Sleek, appealing point of purchase displays will be exhibited in supermarkets. Promotional partnerships with record a company, such as free iTunes downloads with purchase will be implemented to appeal to youthful market. Distribution Distribution will primarily focus on clubs/pubs, closely following the Red Bull distribution model and its flourishing success within this region. Distribution will also be emphasized in super and hypermarkets. Price Policy Pricing will remain competitive, but not premium. Also, based on market research, pricing will reflect that of energy drinks. Product differentiation and promotional efforts will not focus on price, but instead aim to increase purchasing through incentives such as volume discounts. Research A partnership with an experienced European market research agency (i. e. EURO, RSCG) will be imperative to monitoring quality perception and target market acceptance. Research will closely examine brand recognition development over time. Data mining from distributors to track trends will also be influential in understanding consumption behaviors. Research will also be needed in evaluating the possibility of launching a more mainstream bud beer. Finally, based upon success within Austria, further research into surrounding countries will be necessary.

Roles and Ways of Knowing Essay Example for Free

Roles and Ways of Knowing Essay

A FACETS model analysis

A FACETS model analysis Abstract In the modern world the growth of communications, global marketplace and the internet has lead to an increase in the number of small business start-ups. The entrepreneurs responsible for these business possess a large variance in skills, qualities and ideologies. It can be challenging to quantify such characteristics in a comparable way, however there are some frameworks that can assist, one of which as proposed by Bolton Thompson (2003) is the FACETS framework which uses six broadly defined character themes, focus, advantage creativity, ego, team and social. To asses to the results of this model it is applied to a young, successful entrepreneur from the music industry who has received much attention in recent media, Martin Webb. Martin not only writes a columns for both the the Telegraph and Independent but is also the featured entrepreneur on Channel 4s acclaimed Risking It All series. With so much media attention and written material this makes him an ideal candidate for the appl ication of the FACETS framework. Introduction The FACETS model It is important to provide an overview of the theories of to the FACETS model and how these are categorised before its application to a particular entrepreneur. The six defined character themes that form the basis of the framework, focus, advantage creativity, ego, team and social. Bolton Thompson (2003) have stated that some of these themes can be further broken down into the several sub themes which allow for a basic application of the model. Focus As one of the most important themes of the model and desirable not only just for entrepreneurs but also in ones general work ethic, it manifests itself as a sense of urgency, a desire to complete projects in a timely fashion and stick to deadlines. It is broken down into target focus, time focus and action focus. Advantage Advantage relates to the business strategy of the entrepreneur giving them the competitive edge to distinguish between ideas and opportunities that are worth developing and the lemons Creativity This could be described as the life blood of the entrepreneur, it provides the opportunities and ideas that an entrepreneur develops. Bolton Thompson (2003) describe this definitively as the theme from which all else springs It can be broken down into the sub themes of ideas, opportunities and solutions. Ego A complex facet that is split into outer ego and inner ego and can then be subdivided up into six other elements. The inner ego comprises dedication, motivation and self-assurance and the outer ego, responsibility, accountability and courage. Bolton Thompson (2003) describe the outer ego as an entrepreneurs centre of control and stems from a desire to be in charge of their destiny. The first three FACETS are often grouped into FAC and are classified as linked talents. The Ego will act as a control mechanism and then influence how well the talents are utilised. Bibliography Enterprise: Entrepreneurship and Innovation: Concepts, Contexts and Commercialization Entrepreneurs: talent, temperament, technique The Entrepreneur in Focus: Achieve Your Potential

Deviance In Society Essay -- essays research papers

What does it mean to say, â€Å"deviance is socially defined?†   Ã‚  Ã‚  Ã‚  Ã‚  Deviance is defined as, â€Å"The recognized violation of cultural norms.† Deviance is an act of rebellion against set of rules, and expected behavior established by a certain society. Deviance is defined in many different ways. It is depended on the norms of the society, and region. Individuals become deviant when people label their actions as deviance. It depends on how that certain society defines deviance on individuals. The establishment of rules, and breaking rules in society is determined by strong social powers. This event leads to social inequality in society. â€Å"The Saints and the roughnecks†, are an example to labeling individuals as deviants, and it shows how social power causes inequality. Deviance appears in all likes of society. Deviance has many meanings to unconformity on a cultural norm. It depends on that the state of society, and its region. Prostitution is a profession that has existed since the beginning of society. Prostitution is viewed as a sleazy way of making money. The United States outlaws this profession, because it degrades females. Yet it is legal, and accepted in the city of Las Vegas, Nevada. Residents in Nevada view prostitution, as any other job.   Ã‚  Ã‚  Ã‚  Ã‚  Individuals become deviants when society decides to call the acts deviance. It is a labeling process put on the person. An example of deviant behavior would be the teen youth wearing ba...

Renissance and Reformation Essay -- Political, Economic, Social Develop

The arrival of the Renaissance in Europe brought many developments that led to an entirely new political, economic, and social structure. During the 1400s and 1500s, there was a major change that took place in all aspects of life in Italy. The Renaissance period of the 1500s was a time of artistic wonders of inspiration that emphasized individual achievements, which gave individuals their own ideals to follow. Inspiration from the ancient Greek and Roman people led to humanist beliefs and encouraged men to have achievements in many areas. Recovery from disasters of the fourteenth century such as the plague, political instability, and a decline in Church power led to interests in ancient culture. As interests grew, Renaissance arose in Italy for three reasons. First, Italy had several important cities, whereas most of northern Europe was still rural. Second, these cities included a class of wealthy and powerful merchants and bankers. Third, the ruined buildings and other reminders of classical Rome inspired Italian artists and scholars. The society also divided into three estates, or social classes. First estate was clergy, second was nobility, and third was commoners, which were peasants and townspeople. Also, marriages were arranged to strengthen political ties, and the humanism, new interest in the classical part, led to an important value in Renaissance. The ideals of the people changed . Italian writers, Machiavelli and Castiglione, began to create plays and other pieces of writing that did not hold back their true beliefs. Art, literature, math, and science greatly progressed due to humanism, and artworks became more realistic. Techniques such as fresco, developed by Masaccio, enabled the illusion of depth. Many other te... ... chief pillars were the Jesuits founded by the Ignatius of Loyola, reform of the papacy that happened in part to Protestantism, and Council of Trent that was a Reform Commission appointed in 1537 to determine Church’s ills and affirm traditional Catholic teachings. Then, Protestantism spread more the further it got from Rome. The arrival of the Renaissance in Europe brought many developments that led to an entirely new political, economic, and social structure, but it also brought a corruption in the Church. Inspiration from the ancient Greek and Roman people led to humanist beliefs and encouraged men to have achievements in many areas. The Church was no longer the center of life for many people, but it was still an important aspect. When it was brought to serious questions and political concerns, the Reformation caused Catholic responses in many areas of Europe.

The Worst Vacation Of My Life Essay -- Summer Vacation Essays

I used to spend the last part of my summer vacation with my uncle and aunt. As a continuation of a long-ago-established tradition we decided going to York - a small, picturesque tourist town at the seaside, located in the southeastern part of Maine. On the 27th of August, early in the morning we went to my uncle’s car with the entire luggage, prepared to leave and spend a nice, relaxing vacation, far away from the problems of the city. Unfortunately the unpleasant surprises started from the first second of our vacation. To our great disbelief the two front tires of the car were missing, and as later became clear, stolen during the night so at this moment the car was lying on the pavement, like a big wounded animal. I remember that my aunt said that this ought to be an omen of bad luck, warning not to go against your destiny and luck. After several hours repairing the car we, eventually, headed on, ready, for what turns to be the worst vacation in my entire life. However, our lack of luck was not over yet. On our way to the seaside we had a flat tire and after one more wasted hour searching for auto-service and proper repairment we were ready again. Unfortunately, our complete misfortune was still with us. Near Veliko Tirnovo the headway was closed, due to repair works, so we had to turn back a few kilometers and find another, this time not so good way. By this time the day was quickly turning into night. From the car windows I was seeing only the lights coming from the distant villages and the workers hurrying to get home. I thought for a moment, observing those people, that humans are very fragile. They were searching shelter from the coming night in those tiny lights, as they can save them from the perilous dark. ... ...one hospital I understood that she was lucky, because she had no other damages except 3 broken ribs and many bruises all over her body. That accident changed my prospective of seeing things. Long after the vacation I was feeling guilty because I had the chance of helping my aunt, but I failed. I was thinking that if I had not accepted her idea I might have prevented this. For the first time of my life I felt responsible for something. I discovered the meaning of the word â€Å"vulnerable†, and that made me even sicker. I was self-blaming for my inactivity and my helplessness. As the years pass I think that those memories are already left far in the past, that, slowly, I am surpassing them. But the changes are still visible- I am more cautious, knowing that every single moment is bringing certain risk and if I fail to notice it I may easily â€Å"fall from the cliff†.

Cause and Effect Solar Energy

Cause/Effect: Solar Energy Solar radiation is an energy resource many times larger than mankind’s energy needs. Mankind has been able to capture/harness this energy resource, but only on a limited scale. Mankind has found that the use of the sun was quite useful. They used it to grow and dry crops, dry clothing, produce heat, and for light. The sun is a sphere, on the inside of the sun there is a continuous process of fusion in which hydrogen nuclei combine to from helium nuclei. There is less helium than that of hydrogen, which allows the sun to create energy.The energy is then radiated out of the surface of the sun, in which only a small portion is intercepted by plant earth. Just outside of the earth’s atmosphere, approximately 93 million miles from the sun, has the intensity of radiation of about 1. 36 kilowatts per square foot. This process is also called the Solar Constant. This energy is absorbed, dispersed, and reflected by the atmosphere; beaming its radiation to earth’s ground. Almost half of this energy is visible light, approximately half is infrared radiation, and a very small portion of it is ultraviolet radiation.There are many ways to convert this energy. Some use it to heat their water and homes; some convert it to Electrical Energy. Most of the world’s energy needs have been met by converting solar energy into its electrical or mechanical forms. Electrical energy conversion of solar energy can be quite expensive. Much more than it would be to convert into thermal energy, but worth it in the long run. Solar panels or solar cells have been created to convert solar energy into mechanical energy, which can then be converted into electrical energy or used directly.This green energy alternative would cause a reduction in our environmental impact because it has less physical impact on the environment. They also help reduce the level of greenhouse gases produced and would decrease the demands of fossil fuels. Without a reli able, yet sustainable source of energy for the future, mankind will face a continued environmental destruction and continue to contribute to the growing problem of global warming. In order to stop the damage that is being done to the environment, we need to switch to an environmentally friendly energy production system.If we do not switch, the current facilities who rely mainly on fossil fuels, will continue to destroy the earth because they are leaving behind toxic residues and wasteful by products that will have to be dealt with for many years. The future lies with systems that eliminate these toxic and wasteful by products. Only by switching to fully renewable energy systems will humanity be free of these toxins. With our current technology and the expanding knowledge of tomorrow, wind turbines have a 30 year life span.The effort used to run these turbines is lower than the use of traditional power plants. Using wind energy to power turbines instead of plants using fossil fuels f or energy will reduce the overall impact of the U. S. Energy production. The before mentioned solar panel has a life expectancy of approximately 25 years. The total cost per kilowatt is way lower for solar panels than that of fossil fueled based power plants. These panels, once installed, need little to no maintenance. There is no monthly bill or added fees.Just like wind energy, solar energy is completely sustainable and they do not produce any physical by products. I believe that wind and solar energy is the perfect solution to the future of preserving the earth’s environment. Our environment is turning against us and there is a shortage of fossil fuels. It seems as though mankind as a whole is killing itself off. Mankind as a whole needs to rid itself of its dependency of fossil fuels. While wind and solar energy are not the only options available for sustainable energy solutions, in my opinion, they are the best alternative solutions.

Shanker’s Article on The Real Victims

Albert Shanker for 25 years was the columnist for â€Å"Where We Stand† in the New York Times and also president of the American Federation of Teachers. His article on the Real Victims addressed the need for alternative programs to resolve violence and disorder in schools. He agrees with Education reformers about setting high standards for students to achieve. But its worthless Shanker argues if students are continually in fear of a stray bullet hitting them or classes ruled by disruptive students. Shanker opens with an example of school violence, how it terrified one student witnessing the stabbing of another student. Fearful of herself being stabbed too, the girl dropped out of school but managed to earn a GED and further her education into college. Not many could follow the footsteps of this successful girl Shanker warns. Many students he states are scared and disarrayed and lost to school and learning. He gives an example of disruption and how if not equally more damaging it is when compared to school violence. If there is one student that is disruptive in a class then the teacher†s time will be spent on trying to contain this student rather than attend the many who want to learn Shanker states. As a consequence Shanker concludes this will wreck the concentration of the many learning students in that class. There is a high level of tolerance for this kind of behavior he states, and school officials seem to be at a loss. Shanker claims that students carrying guns or drugs or who have been violent to other students have simply been transferred to another school, and those students who are chronically disruptive seem to deserve more tolerance. He states that little is done to kids who keep others from learning. As a result of this failure to remedy the problem Shanker observes that parents that are very much aware of the situation go for vouchers and tuition tax credits. Hoping that by placing their children in schools that do not tolerate violence or disorderly conduct will shield them from it. Many education experts he points out argue that our first responsibility is to the minority of violent and disruptive kids. These kids they claim have a ‘right† to an education and that they deserve to stay in class too. He refutes this point by addressing the rights of the rest of the students making the majority of the class. Those he claims that are ready to work and willing to learn. Why he questions would we want to threaten their security and education. Shanker defends himself that he does not want to put the violent and disruptive children on the streets rather; he wants to see a change in the system. A system he urges that does not surrender the vast majority of willing and learning children for the few and violent children. A consequence of not finding an effective remedy to the system of things is that children with impressionable minds will learn the wrong lessons Shanker claims. To support his reasoning he gives an example of a child committing violence against another. The by-standers watching this happen are positive something bad will happen to this violent student. To the surprise of the children, the teacher gets in trouble for reporting the incidence. Children†s sense of right and wrong fades, a bad lesson taught and a violent child is automatically made a leader for the rest to observe and follow Shanker concedes. Shanker argues that the system is irrational and this is why irate parents demand vouchers and tax credits, anything that could save their children from the few violent children who take hostage the educational system. Rather than the majority of wiling and learning students move out, why not move the few aggressive and troublesome students, Shanker concludes.

Investigational New Drug Review Process

INVESTIGATIONAL NEW DRUG REVIEW PROCESS Investigational New Drug Review Process Prashanth Kumar Ponugoti Northeastern University INVESTIGATIONAL NEW DRUG REVIEW PROCESS Abstract Investigational New Drug (IND) review process begins from the time the sponsor files investigation new drug application and the purpose of the review is to confirm the safety and efficacy of the patient for the drug.Moreover in the process of review if the review committee notifies any deficiencies by the new drug then there will be a clinical however if there are no deficiencies the drug will be approved for new drug application and will be under continuous review to make sure , that the drug does not cause any potential harm. This entire step wise process of review is explained in the following paper INVESTIGATIONAL NEW DRUG REVIEW PROCESS The following flow chart gives an overview of the IND review process Applicant (Drug Sponsor)IND Review by CDER Statistical Pharmacology/ Toxicology Medical Chemistry Spo nsor Submits New Data Safety Review Safety acceptable for study to proceed Clinical Hold Decision Notify Sponsor Complete reviews Reviews Complete and Acceptable? Sponsor Notified of Deficiencies No Deficiencies Study Ongoing INVESTIGATIONAL NEW DRUG REVIEW PROCESS I. Applicant (Drug sponsor): An applicant or the sponsor is a person or a group who takes responsibility and initiates for the investigation of new drug.A person other than an individual that uses one or more of its own employees to conduct an investigation that it has initiated is a sponsor. The sponsor may be an individual, partnership, government agency, private agency, or any other organization and moreover the sponsor does not conduct the investigation process unless the sponsor is a sponsor-investigator. The applications are submitted to Center for Drug Evaluation and Research (CDER) Food and Drug Administration Document and Records Section 5901-B Ammendale Rd. Beltsville, Md. 20705-1266 II.Investigational New Drug Application: Sponsor thinks about new drug application when he has a successful results in preclinical studies (The studies conducted in animals to find the use of drug in human and ensure safety and efficacy) in other words it is the step taken after the successful preclinical studies to continue further studies that is clinical trial in humans. During the conduct of preclinical trial, step by step information of the process is recorded as data and stored. Thus stored information is helpful in filling an IND. The information is as follows A. Animal Pharmacology and toxicology studiesB. Manufacturing Information C. Clinical protocols and investigators information Animal Pharmacology and toxicology studies: The studies conducted in animals to ensure the use of the product is reasonably safe for initial testing in humans. Manufacturing Humans: This is the information obtained from manufacturing, storage, composition, storage and stability, for manufacturing of drug substance and produ ct. Clinical protocols and investigators information: protocols for proposed clinical studies to assess whether the initial-phase trials will expose subjects to unnecessary risks.Information on the qualifications of clinical investigators—professionals who oversee the administration of the experimental compound–to assess whether they are qualified to fulfill their clinical trial duties. The IND is not a marketing approval but The IND is the means through which the sponsor officially obtains this exemption from the FDA: however, its main intention is to detail the data that provide documentation that it is indeed reasonable to proceed with certain human trials with the drug. Types of INDs i. Investigator INDs ii. Emergency Use INDs and iii.Treatment IND After the submission of the IND to the Center for Drug Evaluation and Research (CDER) committee it checks thoroughly the medical, chemistry, toxicological, and statistical data INVESTIGATIONAL NEW DRUG REVIEW PROCESS The se terms are explained below in detail III. Medical Review: Medical also called as clinical review is conducted by medical officers or physicians to ensure the initial use of the drug in patients and are safe to use . This review is also conducted by the non medical officers based upon the data available from the re clinical studies.Medical review plays a major role in new drug review process and is an initiating step for the test of the drug in humans: however it is an important step to be conducted and based upon the results obtained from the review it has a further scope to apply for next steps that is to file new drug application. During this review process the medical reviewers or physicians evaluate the clinical trial protocol for to determine A. If the participants will be protected from unnecessary risks; and B. If the study design will provide data relevant to the safety and effectiveness of the drug.However the safety of the drug is taken by the sponsor during the phase I studies but during phase II, III, and IV Food and Drug Administration (FDA) must also ensure the safety of the medicament in humans for market approval. IV. Chemistry Review: Each review committee has an chemistry review department for reviewing the chemistry of the drug and the agenda of this chemistry department is to address issues related to drug identity, manufacturing control, and analysis. The reviewing committee ensures that the investigational new drug is adequately reproducible and stable.If the drug is neither adequately reproducible nor stable then the chances of approval for IND are less because they are not sure about the drugs action in the body, and don’t know what it does. So the major purpose of chemistry review is i. To ensure that the compound is adequately reproducible ii. To ensure that the compound is adequately stable In addition to this the sponsor should discuss any manufacturing and chemistry differences between the drug product proposed for the cli nical use and drug product used in animal toxicology studies.However these differences might affect the safety profile of the drug product and need to be stated if there are no differences. V. Pharmacology or Toxicology Review: This committee is a group of pharmacologists and toxicologists who evaluate the results of animal testing made during the clinical trial and compare it with the potential effects in humans. That is to ensure safety of the humans for the new drug. i. Pharmacology and Drug Distribution (21 CFR 312. 23(a)(8)(I)): This is nothing but absorption, distribution, metabolism and excretion of the drug in the animals.These results should be obtained by conducting them in animals, so it should be recorded with an example. Moreover this should not be a reason for the clinical hold because these rae the studies conducted in phase one of the IND and where FDA feels it as sponsor great responsibility factor for the drug in achieving safety and efficacy to the humans. ii. Tox icology Data (21 CFR 312. 23(a)(8)(ii)(a)): INVESTIGATIONAL NEW DRUG REVIEW PROCESS Toxicology data is required from both vitro and vivo studies, because particular studies depend upon nature of the drug and phase of human investigation.VI. Safety Review: After submission of the IND to the CDER then the committee takes about good 30 days to conduct review in every factor to achieve safety and efficacy and to avoid potential harm to the human. The review is an ongoing process however CDER notifies the sponsor immediately if there are any potential high risks associated with the drug upon usage in humans. If a notification is sent to sponsor then it is clear that the application is put on hold and the sponsor should conduct enough studies to clear the hold.This hold will be removed and allows the sponsor for further studies only when changes made to the clinical hold achieve the safety and efficacy and does not case potential risks. If the sponsor is not notified with any information from CDER from the day of IND submission to the 30 th day then on the 31st- day further study can be proceeded as submitted. VII. Clinical Hold Decision: The Clinical hold is issued in during the thirty day review period and this is due to the following factors 1. The drug causes potential harm to the humans 2.If drug is not having enough stability 3. The IND does not contain sufficient information required under 312. 23 to assess the risks to subjects of the proposed studies 4. The plan or protocol for the investigation is clearly deficient in design to meet its stated objectives. And CDER can hold the studies during the initial phases of the studies that is when filed for IND if observes potential risks on the data submitted initially. The Clinical hold will be removed if the sponsor addresses the issue based on the hold before the order is removed.In addition the clinical holds are reviewed by higher authorities of CDER to assure scientific quality and consistency in the Center's clinical hold decisions. IX. Notify Sponsor: X. Sponsor Notified of Deficiencies XI. Study Ongoing Xii. Conclusion†¦.. Page 17 and page 18 lo matter unnnadhi †¦ use gooogle search for material if required and provide the refrence where ever u grab the material†¦Ã¢â‚¬ ¦ Refrences: http://www. accessdata. fda. gov/scripts/cdrh/cfdocs/cfcfr/CFRSearch. cfm? fr=312. 42 http://www. fda. gov/downloads/AboutFDA/CentersOffices/CDER/ManualofPoliciesProcedures/ucm082022. pdf

Partners Healthcare Case Question

Portfolio Theory Case (Professor David Moreno) PARTNERS HEALTHCARE CASE The goal of this case is to teach to students the relevance of non traditional assets (as real states or commodities) in a well-diversified portfolio. Moreover, students will be able to practice with the most important concepts from portfolio theory as efficient frontier, dominated portfolios, Sharpe ratio, among others. In addition, students are learning how portfolio theory can be useful not only for portfolio managers but for any company or firm with some funds to manage.To do this case students must work in groups and, at the end, each group must give a printed copy of the answers to all these questions. Moreover, they should prepare a presentation in Power Point or Word answering these questions for their presentation on the classroom. Short Questions (You should answer these questions very shortly) 1. How do the hospitals obtain their profits? Why do the hospitals use or need the Long-Term Funds? Compute th e annual returns obtained by the LTP between 1995 and 2004 and represent them on a graph.In addition, what has the average return been during that time period? 2. According to the text the physician organizations or hospitals can invest their financial resources in several centrally-managed pools. What are these pools? How are they? 1 Portfolio Theory Case (Professor David Moreno) 3. The problem presented in the case is a typical problem of portfolio theory. Is it a security selection problem or an asset allocation problem? Explain the differences among them. 4. During the last years the Parthners Investment Comitte have introduced a new asset class, REITs and Commodity Index.Explain these non traditional assets and if in your own opinion they should be interesting or not. Long Questions (in this case you will be considered a portfolio manager trying to explain or to answer to these question in a company or comitte, then use everything you need, computer, graphs, mathematics,†¦ ) 1. Suppose different hospitals within the Partners system choose different mixes of the â€Å"riskfree† STP and the baseline LTP, whose future expected returns and risks are shown in Exhibit 3.On Exhibit 3, plot the returns and risks of the various potential portfolios that can be formed by allocating funds between the STP and baseline LTP. What shape does a line drawn through these portfolios take? Why? 2. On Exhibit 5, plot the curve for the risks and expected returns of the optimal portfolio combinations in the 4 asset case detailed in Exhibit 6, namely: US Equities, Foreign Equities, Bonds, and REITs. Do the same for the 4 asset case shown in Exhibit 7: US, Foreign, Bonds, and Commodities.Do the same for the 5 asset case detailed in Exhibit 8: US, Foreign, Bonds, REITs, and Commodities. How much does each of the â€Å"real assets† improve the potential opportunities for the hospitals investing in the LTP? 3. About the results in the previous point: What are the i mportant factors that determine the degree of improvement when non traditional assets are introduced? 2 Portfolio Theory Case (Professor David Moreno) 4.Consider the hospital that wishes to invest in the STP and the LTP such that the total expected return on the portfolio is 6%. How does the introduction of real assets alter the risk and composition of their most attractive portfolio? 5. Consider the hospital that is fully invested in the LTP with its current standard deviation and wishes to maintain this level of risk. How much does the introduction of real assets help them, if at all? If it was needed consider the possibility of taking short positions. 3

Drawing from key readings (e.g., Chandler, 1990 Hoskin et al, 2006 Essay

Drawing from key readings (e.g., Chandler, 1990 Hoskin et al, 2006 Drury, 2012) and your answer in part a) and part b), critical - Essay Example The presentation of this information is normally done by a company representative. This mandate normally falls on the manager and he is faced with the task of deciding what ought to be presented and what to withhold. The reporting structure of every company is often standardized and well defined. The methods that are sued in the preparation and the reports that are to be presented are governed by standard rules that are set by the organizations in question. Additionally, the external parties are only presented with the aggregated and summarized data (Chandler, 1990 pg 7). This is in great contrast with organizational managers that need a more detailed report and information. In most cases, the information required can be adopted from familiar formats. The subsequent chapters of the report are dedicated to revealing typical examples of budgets and segment income reports among others. A manager needs to have a fundamental awareness of the processes involved in financial accounting (Hos kin, Macve & Stone, 2006 pg 9). It is also important for them to be aware of the resulting financial statements that are important requirements to understanding the framework used in these distinctive managerial accounting reports. Besides this, managers are also in a position to request for reports that are tailored to only specific tasks that are vital in decision making. These reports are pertinent to assuming a more free-formed format. It is, therefore, important for managerial accountants to be in a position in which they can easily adapt their generalized accounting knowledge in the development of personalized data and reports that are rational and which uphold sound management processes. The information in managerial accounting tends to be focused on activities, products and departments. This information also cuts across a broad range of key functional areas that are inclusive of finance and marketing among others. In most organizations, internal auditing units are referred t o as strategic finance to the wide scope of duties that they perform (Hoskin, Macve & Stone, 2006 pg 9). Managerial accounting information is based on internal specifications that are given for data presentation and accumulation. In this case, the internal specifications ought to be clear, concise and consistent. This means that great care should be taken to ensure that any submitted reports are sufficiently rational to enable the managers to make good decisions. It is also important to replace specific reporting periods with real-time data that will facilitate quick response. On the same note, forecasted outcomes from these real-time data would be vital for planning within the organization. Besides these, cost information should be done in such a way that would mandate managers to focus and be held accountable for their business segments and components. The crucial function of any given manager is to manage and take control over organizational problems (Horngren, Bhimani et al, 200 8 pg 44). This is to mean that every organization has its own share of problems and it is the work of the manager to deal with them. However, this does not necessarily mean that the role of the manager is to deal with organizational problems. Their functions go beyond that. Managing requires one to be adept and have numerous skills set. A manager requires visionary and leadership skills besides having the ability to mobilize both

Opinion Coulums Dissection Essay Example | Topics and Well Written Essays - 1250 words

Opinion Coulums Dissection - Essay Example From this point on, the writing is structurally focused on the spirit of sharing reflected in small gestures among ordinary people and how this is revealed through the sharing of the most precious commodity in the desert countries – water). But if we open our eyes, there are also those around us doing good for others away from the limelight and without seeking any recognition. (At this point, the focus of the article shifts from the negative impact of the media to the small acts of kindness which are not broadcast). Elsewhere, up near the Talk of the Town,(alliteration) Adliya, a householder has provided for several years a constant supply of drinking water for passers-by, with a purpose-built (passers-by and purpose-built is a consonance and alliteration, because the first letters and b of the respective words are similar) fountain, with a metal cup attached by a chain. (The use of drinking water supply with attached cup for passers by is a deliberate repetition, to emphasize the significance of the act of kindness extended by some Bahrainis to strangers.) This is a part of the world where water has always been precious and where in the days before modernization, people had to walk to wells to get their daily supply (Consonance) (historical imagery of the past and people walking in deserts to get their water supplies). These seemingly gestures of making water available to passing strangers who may be thirsty can be seen all over Bahrain and they are a small but significant symbol of the survival of community spirit. (Another repetition of the act of making water available to strangers to symbolize sharing and the good existing in society – also a historical allusion to the community spirit that existed in Arab culture which is continuing). It will soon be Ramadan, when the sharing spirit (example of consonance) comes to the force, with neighbors going from

The World Of Vampires Essay Example | Topics and Well Written Essays - 1250 words

The World Of Vampires - Essay Example As with all forms of culture, a great deal can be said with regards to society and the mores and norms that this society integrates with regards to the types of popular culture that are exhibited within our current system. As a function of this brief analysis, the author will seek to understand the core complements of the female action star as well as to relate these attributes to present dynamics within current culture and society. It is the hope of this author that such a process will help the means by which seemingly trite, or otherwise simplistic films, speak to broader issues within culture and society. Further, by utilizing these movies as a vehicle to understand feminism, society, and the current culture that we live in, it is the further hope of this author that these two film franchises will be able to shed a degree of light on the means by which feminist concepts are displayed and integrated. The first determinant that can of course be seen with regards to these female acti on stars is the fact that they are almost invariably highly sexualized. In the case of the vampire Selene from the Underworld franchise, the viewer is presented with a dynamically powerful yet conflictingly feminine heroine that displays unbelievable prowess with regards to the use of weaponry, assassination, and coldhearted murder; however, also represents the fragile qualities of stylize womanhood in the fact that she has the capability to love and ultimately becomes a mother. This represents a unique dynamic due to the fact that the highly sexualized nature of the star is of course intended to draw in male audience members to the plot line. Speaking candidly, the plot in and of itself is quite weak (Stein 133). However, due to the fact that an impressively attractive Kate Beckinsale plays the lead role, arrayed in a skintight leather one piece, the degree to which the male audience will integrate with such a film is radically increased. This dynamic becomes even more interesting as the viewer realizes that the empowerment that is displayed within the film is ultimately representation of feminism; i.e. a backlash against traditional male oriented entertainment that features brawny men in explosive action movies. This complex dynamic becomes even more complicated when one realizes that the feminist agenda that is incorporated into these films is necessarily weakened by the fact that the women portrayed as the lead characters must sexualized themselves as a means of integrating the story with the audience. Much the same is true with Mila Jovovich’s main character in the Resident Evil film series. Whereas the character of Selene in the Underworld movies fights against werewolves, Mila Jovovich’s character within the Resident Evil franchise fights against throngs of the undead. However, regardless of the differential and plot lines, the very same approaches followed. Ultimately, Jovovich’s character is represented as a reluctant wife and pro fessional who is dragged into the abyss that the Umbrella Corporation creates with regards to an experiment gone wrong. Following specifically and almost identically the same mechanism whereby Kate Beckinsale’

MGMT315 U5 IP Research Paper Example | Topics and Well Written Essays - 1250 words

MGMT315 U5 IP - Research Paper Example The new office which is being planned to be opened in Austin would also need employee strength of the same numbers. This report would look into the various processes that the Chief Human Resource Officer has to take in order to acquire the brightest and the efficient talents from the job market and the strategies that are necessary to make an optimal workforce planning for the forthcoming fiscal year. Literature Review Any workforce strategist would employ a specialised process of identifying the right mix of talents in order to build up a successful team that would prove to be effective as well as efficient in their performances. There are several stages that most of the HR teams of an organisation undertake to ensure that the best talent come on board. The first step of any recruitment process is the job analysis. In this process the human resources department of the organisation has to decide how many roles have been created for that particular financial year. The managers have to perform a task analysis in order to understand the necessary requirements of the candidates who would be able to fulfil the job role. For this the HR managers has to find out the right educational qualification and work experience for the candidates and the suitable skills and experiences. The organisation has to take the help of the possible sourcing techniques like the job portals, employee referrals, newspaper advertisements as well as the other forms of the online media. The company can also go for lateral hiring and pick up candidates from the competitors. The screening and selection process comes next. This can be done with the help of written aptitude tests, psychometric tests, the screening of the candidates based on their educational qualifications and work experience, application tracking systems and so on. In doing so the company has to follow the legal and ethical mandates of the country. The screened candidates then would either go through a group discussion process or may go for an interview process which is generally held in different stages. The soft skills of the candidates are tested. The expected salaries and the other necessary aspects of the job like the timings; the responsibilities are discussed in this phase. Finally the documents of the selected candidates are verified and they are offered the job with the prospective date of joining and the mandatory medical tests that have to be undertaken. HR planning for new office in Austin In the first place the CHRO of Thinkcraft has to decide on the various kinds of roles and jobs that would be required to fulfil the requirements of the company. Just like the other offices the Austin office of Thinkcraft intends to have a capacity of 150 to 175 employees. This would include employees of all the levels. The Austin office would have a proportionate mix of software engineers who would take the control of the technicalities of the software support and the finance experts who would take care of the accounting and the core areas of the software for the financial institutions. The company has to ensure that the major process of the compliance and the auditing part are done by the auditors who are being certified by the government. This would require 50 technical experts and 50 financial experts. There would be 10 teams each having 5 experts from each of the specialised fields. The teams would be managed by 10 managers who have to be both technically sound and should have financial

Obligation in Law Case Study Example | Topics and Well Written Essays - 2000 words

Obligation in Law - Case Study Example Jack - he was watching the news at home when a live feed of the accident came on TV and realised that his wife and daughter were among the spectators. He was a nervous wreck for several weeks although he had learned earlier that his wife and daughter left the airfield 30 minutes before the accident. The claims by the five individuals when consolidated into one imposes on the plane manufacturer an obligation in law arising ex delicto, or from the tortuous acts of negligence and recklessness (Classic Encyclopaedia, online; 'Lectric Law Library, 2001). Negligence is in fact one of the five major offenses punishable under the tort law, the other four being trespass on land, trespass against goods, trespass against person, and defamation (Street, 1999). This suggests that the plane manufacturer as respondent or defendant in the five tort cases has civil liability to compensate the claimants for the alleged damages they sustained from the crash in the form of "nervous shock." However, a careful reading of the law, specifically the assigning of civil liability and the circumstances that warrant the awarding of damages thereto, makes that proposition doubtful. Obligation is defined as an act or course of... Negligence is in fact one of the five major offenses punishable under the tort law, the other four being trespass on land, trespass against goods, trespass against person, and defamation (Street, 1999). This suggests that the plane manufacturer as respondent or defendant in the five tort cases has civil liability to compensate the claimants for the alleged damages they sustained from the crash in the form of "nervous shock." However, a careful reading of the law, specifically the assigning of civil liability and the circumstances that warrant the awarding of damages thereto, makes that proposition doubtful. Obligation Obligation is defined as an act or course of action required of a person by law or by virtue of his position, religion or the prevailing custom (Currie & Cameron, 2000). In this case, it is the law that supposedly obliges the plane manufacturer to compensate the five claimants for nervous shock, which amounts to damages difficult to quantify. The inherent difficulty of quantifying nervous shock is the first hurdle that the claimants need to overcome to prove their case against the respondent. As noted by Cabresi & Hirschoff (1972), such emotional pain and suffering, which leads to loss of enjoyment of life, is not easily quantifiable and depends on the individual circumstances of the claimants. Looking into these individual circumstances, it seems hard to believe that Jack was in shock for a prolonged period since he was not on the scene at all and he immediately learned that the family members he was worried about left the air show 30 minutes before the accident. The same question c an be asked of John who lives quite a distance from the airfield, of

National Programme for Information Technology Essay

National Programme for Information Technology - Essay Example The NPFiT programme is designed to be in ten years and deliver key elements that are concerned with NHS care record service (National patient Record Spine and Local Service Providers), electronic bookings, electronic transmission of prescriptions and underpinning IT infrastructure and network. The implementation of the program will involve new technology and information systems are being implemented in planned phases both at national and local levels. National Application Service Providers are responsible for purchasing and integrating IT systems common to all users nationally whereas locally, this will be provided by Local Service Providers across ten strategic health authorities in England grouped into three regional programmes. Their mandate is to ensure that the local systems that exist or being put into use go hand in hand in meeting the national standards that will also facilitate the flow of data nationally and locally.This program has key components set up to deliver the new IT systems and services that include the national network providing infrastructure and broadband connections for the NHS to enable patient information to be shared between organisations. Care records service ensures every patient will have his individual record easily accessible to him and health professionals hence reduce administrative and clinical errors. A national central database – referred to as Spine – will is the backbone of the project as it has a summary of patient records and key data. such as NHS numbers, demographic details, drug allergies, medications and significant diagnoses or problems. It will also point

MACROECONOMIC Essay Example | Topics and Well Written Essays - 1000 words - 1

MACROECONOMIC - Essay Example Therefore, fiscal policy addresses matters relating to the government’s debts and expenditures. It provides an understanding about measures that a government takes to collect taxes and incur expenditures. Answer 2: Fiscal policy aims to affect the economy through changing spending and collection of the government’s revenue. It includes all measures that are involved to stimulate the economical activity (Vitek, 2012). The main objective is to stimulate the national income through aggregate demand (Vitek, 2012). There are three instruments of fiscal policy 1. Government revenue or taxation 2. Government expenditure or Government spending 3. Government debt and management or government deficit The main instrument of fiscal policy is taxation (Perry, et al., 2008). By increasing or decreasing the tax burden on the public, it can influence government revenue (Vitek, 2012). Increasing tax burden will increase the general prices that will result in reduction in cash flow in an economy. Contrary, decreasing tax will reduce the general prices resulting in an increase of cash flow. Y   The above diagram shows the effect of taxation on an economy. It shows the effect of increase (Da1) and decrease (Da2) of tax on an economy. When the tax is increased from Da2 to Da1 it results in lower equilibrium and vice versa. Government expenditure is another instrument of fiscal policy in order to encourage the economy to grow (Perry, et al., 2008). Government expenditure involves spending activities of the government in the country which promotes expansion of businesses and creation of job opportunities (Vitek, 2012). It mainly involves expansion of the governmental sectors like schools, infrastructure projects, industries, and hospitals etc. The above diagram shows two different autonomous investments. When AD1 is the investment, the national income is raised and when the autonomous investment is decreased to AD2 the equilibrium declines. Government deficit refers to spending more than the government’s revenues. Mainly, under-developed countries are deficit financed because the growth of the economy is poor (Perry, et al., 2008). This tool aids underdeveloped countries to improve their economic conditions and boost growth. Resources for deficit budget are met by borrowing referred to as deficit financing (Hansen, 2003). Answer 3: According to Australian national statistic, the Australian government decreased taxes which caused the government’s revenue to fall by five million dollars. Taxation relief was a substantial step by the Australian government to encourage growth in its economy. Decline of about two million tax revenue was due to ineffective tax collection from companies. According to the information, tax burden was increased for people having higher incomes. Taxation was levied on industries and large scale companies whereas small businesses had significant reliefs (Perry, et al., 2008). Moreover, heavy tax was imposed on the duty free cigarette which resulted in a major saving in the transfer payment that was being done for import of tobacco and cigarette. The Australian government seems to be more inclined towards reducing the taxation rate (Perry, et al., 2008). This tool of fiscal policy encouraged people to invest and spend. The decrease in the