Walking Around By Pablo Neruda Essay Example For Students

Walking Around By Pablo Neruda Essay Pablo Neruda gives us a good example of Vanguard Literature in his poem WalkingAround. We can see the influence of surrealism in the poem because it does notrhyme at all, instead is an effort to express feelings and emotions in a freestyle. We can also see the existentialism idea as Neruda is bold and tells useverything that is in his mind. Neruda tells us what he thinks about society ingeneral. In this poem we can see that Neruda is tired of technology, he saysthat he no longer desires to see elevators, or merchandise, or movie theaters. He is tired of all the new inventions humans have made. He is tired of seeingthe same things over and over again wherever he goes. Same shoe shops, samestores, etc. In my opinion, he thinks that we have lost our individuality andthat we all own the exact same artifacts and we all want to have whatevereveryone else has. I also think that hes sorry that humans cannot appreciatethe beauty of nature, and are polluting it with factories, buildings, and alike. We will write a custom essay on Walking Around By Pablo Neruda specifically for you for only $16.38 $13.9/page Order now Neruda grew up in the wilderness, and I think that he misses the wild landscapesand the fresh air he used to breath when he was a boy. The line that confused mewas when he says that it would be delicious to kill a nun. I thoughtthat because of his experience of loosing a friend during war, he would beagainst any kind of violence. But, I then I thought that since existentialismconsists of an active role of the will, and not the reason, Neruda was justbeing spontaneous. He probably was just trying to get out all that he felt, evenif this meant going to the extremes. Neruda was probably disappointed of the newinventions, and the destruction of nature and man itself. This poem clearlyshows that Neruda is tired of living in the world around him.

Spain and the Marshall Plan essays

Spain and the Marshall Plan essays The leader of the Nationalist forces, General Franco, headed the authoritarian regime that was in power in Spain after the Civil War (May, 1978). Francisco Franco became a general in 1926 and in 1934 became the commander of the Spanish army. Two years later, he led a revolt against the elected government of Spain. That revolt turned into the Spanish Civil War, which he won with the help of Hitler and Mussolini. After winning the war, Franco became leader of the now one-party Spain, which he ruled until his death. Franco's dictatorship caused Spain to lose out on foreign aid from the United States after World War IIa loss that cost Spain a great deal. Until he died in 1975, Franco ruled Spain " by the grace of God," as his supporters proclaimed (May, 1978, p. 142). In addition to being the tyrannical head of the armed forces, he was also chief of state and head of government, the ultimate source of legitimate authority. He reserved the power to appoint and to dismiss ministers and other major decision makers. Franco's life was spent as a professional soldier, and his conception of society showed this. Famous for his iron political nerve, Franco believed that he was the one designated to save Spain from the chaos and instability caused by parliamentary democracy and political parties, which he blamed for ruining the unity of Spain. His main goal was to maintain power in order to keep what he termed the "anti-Spain" forces from gaining power. He ruled Spain for nearly 40 years, managing to stay in power only because his nation was suppressed and in fear of him. The Spanish Falangist administration, both for its foreign policy during the war and for its human rights record, was unpopular abroad (Garza, 1987). In 1946 the United Nations (UN) called on Spain's representatives to withdraw their ambassadors from Madrid; Spain was not included in the list of countries that w...

Pros and cons of death penelty Research Paper Example | Topics and Well Written Essays - 500 words

Pros and cons of death penelty - Research Paper Example s a legal sentence that acts as a strong deterrence to the criminals who seldom desist from committing crime and are used to committing such heinous crimes such as murder and killing (Hood 211). The provision of death penalty scares away the people from engaging in such serious and inhuman crimes like murder and killing. It protects the society from the serious criminals who are incapable of mending their ways. It is a final resort against such criminals who are incapable of correcting their criminal tendencies. (2) The one other advantage of death penalty is that it assures that a criminal gets full and complete justice. Since the consequences of death penalty are irreversible, the legal system looks to it that the varied aspects of a crime are seriously considered before an individual is given a death penalty (Hood 179). (3) It is the duty of the criminal justice system to look to it that a criminal gets appropriately punished for the heinous crime committed by one. The provision of death penalty assures that a criminal gets suitably and appropriately punished in consonance with the inhumanity and gravity of the crime committed by one (Anckar 59). (4) Death penalty is also appropriate as it brings a sense of final closure to the family members and friends of the victims who are subjected to serious crimes. It gives a sense of solace to their families that the justice has been met with in a suitable and time bound manner (Anckar 119). (ca) The one big objection against death penalty is that it is deemed to be inhuman and immoral (Haines 62). It is owing to the inhuman and immoral nature of the death penalty that this legal provision has been banned in Europe and in many other nations. (cc) One other objection against death penalty is that it is highly susceptible to the quality and fairness of a trial (Haines 172). In case the trial in the case of a prisoner is not fairly conducted, it may subject one to a situation, the consequences of which can never be

Can Blockbuster Stand up to Netflix Article Example | Topics and Well Written Essays - 250 words

Can Blockbuster Stand up to Netflix - Article Example These forces have mostly come from the competition provided by illegal downloads of movies in local markets and the pirated copies of films available in foreign markets but most importantly Blockbuster faces competition from a company called Netflix. Instead of using local distribution channels, Netflix uses an online storefront which means that they have reduced their distribution costs to a great extent. Netflix has used a technological solution to give itself the first mover advantage forcing Blockbuster to play the catch-up game (Epstein, 2006). Â  As the latest information available from Blockbuster, the company is venturing into online rentals for films and allowing the distribution of media material from online sources such as websites and even in-store kiosks to locate older films (Blockbuster, 2006). However, this may be a case of too little too late since Netflix is already offering their clients the same services. Blockbuster tried to compete with Netflix on price but the running costs of having stores across America and the human resource cost of maintaining those stores means that Blockbuster will always find it difficult to compete solely on the price model. Â  It does not seem that Blockbuster has a good future since analysts from both the business world and the Hollywood entertainment industry consider it to be little more than a zombie about to be killed by modern distribution methods (Epstein, 2006). However, Blockbuster does have an established name in the rental business and it is still a place where individuals can see the choices they have rather than to scroll through the choices.

Ethnicity and Religion Essay Example for Free

Ethnicity and Religion Essay This compared with around 45% of Hindus and Sikhs. In contrast, only 11% of white people described themselves as belonging to the Church of England. Amongst Muslim men over the age of 35, four in five reported that they visit mosque at least once every week. Data from the 1991 census demonstrates that Britain is ethnically diverse, there is a wide range of ethnic groups with different religious affiliations, and there are more ethnic groups than identified in the census data Modood and Berthoud (1997) analysed the 1991 Census data on ethnicity they suggest that ethnicity comprises: 1. Subjective identification: with which ethnicity do I and my group identify? 2. Religious identification; to what extent does it help construct ethnicity? A number of general points can be made about religious affiliation among ethnic minority groups; that is, those people comprising the 5. 49% of the population identified in the Census as non-white. Most ethnic groups are more religious than the majority of the population. The table below shows the results of a survey conducted in Britain which asked respondents to state their religious affiliation

Discussing the challenges faced by financial institutions in managing risk

Discussing the challenges faced by financial institutions in managing risk When discussing the challenges faced by financial institutions in managing risk, it is important to have a consistent definition of the term risk. Risk can be defined as the volatility of a corporations market value. Risk management involves the protection of a firms assets and profits. Moreover, not only does it provide profitability but also other advantages like being in line with obedience function toward the rule, increasing the firms reputation and opportunity to attract more customers in building their portfolio of fund resources. Cebenoyan and Strahan (2004) suggest that the benefits of advances in risk management in banking may be greater credit availability, rather than reduced risk in the banking system (p.19). This means that banks will have a greater opportunity to increase their productive assets and profit. Only those banks that have efficient risk management system will survive in the market in the long run. They can follow a four-step routine to reduce their risk exp osures and achieve their risk management objectives, as shown below. Figure 1 steps for implementing risk management To properly manage risks, the bank must firstly identify and classify the sources from which risk may arise at both transaction and portfolio levels. Risks inherent in lending activities include market risk, liquidity risk, credit risk and operational risk. Market risk is the risk arising from adverse movements in the level or volatility of market prices of equities, interest rate instruments, currencies and commodities. Banks are always facing the risk of losses in on and off-balance-sheet positions arising from undesirable market movements. The fundamental role of banks in transforming of short-term deposits into long-term loans makes them inherently vulnerable to liquidity risk. The FSA has defined liquidity risk as: The risk that a firm, though solvent, either does not have sufficient financial resources available to enable it to meet its obligations as they fall due, or can secure them only at an excessive cost. Another risk that banks face is credit risk. It is the risk that can be incurred if the counterparty fails to meet its obligations in a timely manner. Loans are the most palpable source of credit risk in many of the banking systems; however, other sources of this risk originate through other activities of banks such as acceptances, trade financing, interbank transactions, financial futures, foreign exchange transactions, swaps, equities, options, bonds, and in the extension of commitments and guarantees, and the settlement of transactions. Operational risk, as its name suggests, is a risk arising from execution of a companys business functions. The Basel Committee has defined operational risk as: the risk of losses resulting from inadequate or failed internal processes, people and systems, or external events, such as the failure of computer systems or error and fraud on the part of staff. Apart from those risks mentioned above, the Federal Reserve System has recognised two other risks: legal risk and reputational risk. Legal risk is the risk of loss caused by sanctions or penalties originating from court disputes due to breach of contract and legal obligation. Another legal risk relates to regulatory risk, i.e., the risk of loss resulting from sanctions and penalties pronounced by a regulatory body. Reputational risk may be defined as the risk of loss caused by a negative impact on the market positioning of the bank. It can be seen as the blowing up of an initial loss, arising from credit, market, liquidity or operational risks. However, banks hardly pay attention to these categories of risks. Once identified, the risks should be evaluated to determine their impact on the companys profitability and capital. This entails measuring them by using various techniques ranging from simple to sophisticated ones. For example, market risk can be measured by using Value at Risk. This stage also calls for estimating three dimensions of each exposure: the potential frequency of losses that exposures have produced or may produce, the potential impact on the organisation if a loss should occur and the potential variation in losses that will occur during the exposure period. Accurate and timely measurement of risk is necessary because with these types of data the risk manager can determine which exposes are most serious and which deserve the most immediate attention. After measuring risk, bank managers should establish and communicate risk limits through policies, standards, and procedures that define responsibility and authority. In other words, these limits should serve as a means to control the risks associated with the banking institutions activities. There is a variety of mitigating tools that banks may employ to minimise the loss exposures. These tools may be diversification, securitization and even derivative such as withdrawal option, Bermudan-style return put option, return swap, return swaption and liquidity option. The final step involves appraising the operation of the program regularly to be sure that it is achieving planned results. It helps the managers to evaluate the wisdom of their decision-making. To efficiently monitor risk, all material risk exposures should be identified and measured again. To facilitate this procedure, banks should put in place an effective management information system (MIS) that will provide directors and senior managers with timely reports on the operating performance, financial condition and risk exposure of the firm. If corrective action is indicated at this stage, the first three steps should be repeated. 2.1 Corporate Governance in the banking sector Corporate governance is a term that is now universally invoked wherever business and finance are discussed. Its purpose is to coordinate a conflict of interest among all parties relationship within the company and to develop a system that can reduce or eliminate the agency problems arising from the separation of ownership and control (OECD, 1997). Agency problem occurs when the agents of an organization (e.g. management) use their power to satisfy their own interests rather than those of the principals (e.g. shareholders). It may also refer to simple disagreement between agents and principals. For example, the board of directors may disagree with shareholders on how to best invest the companys assets, especially when it wishes to invest in securities that would favour their interests. Not merely does the term corporate governance carries different interpretations, its analysis also involves diverse disciplines and approaches. One of the most quoted definitions of corporate governance is the one given by Shleifer and Vishny (1997): corporate governance deals with the ways in which suppliers of finance to corporations assures themselves of getting a return on their investment. The Cadbury Report, however, defined corporate governance as the system by which companies are directed and controlled (para 2.5). Additionally, it recognised that a system of good governance allows the board of directors to be free to drive their companies forward, but exercise that freedom within a framework of effective accountability (para 1.1). The Hampel Report, whilst accepting the Cadbury definition of corporate governance, also noted that the single overriding objective of companies is the preservation and the greatest practical enhancement over time of their shareholders investment ( para 1.16). In a similar vein, Charkham (1994) identified two basic principles of corporate governance: That management must be able to drive the enterprise forward free from undue constraint caused by government interference, fear of litigation, or fear of displacement. That this freedom- to use managerial power or patronage- must be exercised with a framework of effective accountability. Nominal accountability is not enough. In the banking sector, however, corporate governance differs greatly with other economic sectors in terms of broader extent of claimants the banks assets and funds. In manufacturing corporations, the issue is to maximise the shareholders value but in banking, the risk involved for depositors assumes greater importance due to the fact that almost every bit of banks investment are financed by the depositors funds. If it goes bankrupt, it will be depositors savings that the bank will lose. Indeed, Macey and OHara (2001) states that a broader view of corporate governance should be adopted in the case of banking institutions, arguing that because of the peculiar contractual form of banking, corporate governance mechanisms for banks should encapsulate depositors as well as shareholders. Arun and Turner (2003) also support this argument. Further, the involvement of government in banking is discernibly higher compared to other economic sectors due to the larger interests of the public (Capri o and Levine, 2002; Levine, 2004). Rational depositors require some form of guarantee before depositing their wealth in banks. Yet, it is relatively difficult for banks to provide these guarantees to them because communicating the value of a banks loan portfolio is quite impossible and very costly to reveal. As a consequence of this asymmetric information problem, bank managers can have an incentive to invest in riskier assets than they promised they would ex ante. To assure depositors that they will not expropriate them, banks could make investments in brand-name or reputational capital (Klein, 1974; Gorton 1994; Demetz et al 1996; Bhattacharya et al 1998), but these schemes give depositors little confidence, especially when contracts have a finite nature and discount rates are sufficiently high (Hickson and Turner, 2003). The opaqueness of banks also makes it very costly for depositors to constrain managerial discretion through debt covenants (Capiro and Levine, 2002, p.2). As such, government interventions provide the lacking assurance to economic agents in the form of deposit insurance. Nevertheless, although the government provides deposit insurance, bank managers still have an incentive to opportunistically increase their risk-taking, but now it is mainly at the governments expense. Apart from supporting the argument that a broader approach to corporate governance should be adapted to banking institutions, Arun and Turner (2003) also argue that government intervention do restrain the behaviour of bank management. The Bank for International Settlements has defined the governance in banks as the methods and approaches used to manage banks through the board of directors and senior management which determine how to put the banks objectives, operation and protect the interests of shareholders and stakeholders with a commitment to act in accordance with existing laws and regulations and to achieve the protection of the interests of depositors. The Table 1 below shows the general principles concerning corporate governance issued by the Basel Committee specifically for bank boards and senior management. Principle 1 Board members should be qualified for their positions, have a clear understanding of their role in corporate governance and be able to exercise sound judgment about the affairs of the bank. Principle 2 The board of directors should approve and oversee the banks strategic objectives and corporate values that are communicated throughout the banking organisation. Principle 3 The board of directors should set and enforce clear lines of responsibility and accountability throughout the organisation. Principle 4 The board should ensure that there is appropriate oversight by senior management consistent with board policy. Principle 5 The board and senior management should effectively utilise the work conducted by the internal audit function, external auditors, and internal control functions. Principle 6 The board should ensure that compensation policies and practices are consistent with the banks corporate culture, long-term objectives and strategy, and control environment. Principle 7 The bank should be governed in a transparent manner. Principle 8 The board and senior management should understand the banks operational structure, including where the bank operates in jurisdictions, or through structures, that impede transparency (i.e. know-your-structure). Table 1- Principles of corporate governance for bank boards and senior management 2.2 Corporate Governance Mechanism According to agency theory, the corporate governance mechanisms reduce the agency problem between investors and management (Jensen and Meckling, 1976; Gillan, 2006). Traditionally, governance mechanisms can be classified as internal and external. Llewellyn and Sinha, (2000) states that internal corporate governance is about mechanism for the accountability, monitoring, and control of a firms management with respect to the use of resources and risk taking. The main internal monitoring mechanisms are the board of directors, the ownership structure of the firm and the internal control system (Gillan, 2006). Whereas, external corporate governance controls encompass the controls external stakeholders exercise over the organisation and its primary external mechanisms are the takeover market and the legal/regulatory system. However for the purpose of this paper, we will mainly focus on some internal corporate governance mechanism such as the board of directors, more precisely on its independence and financial knowledge. Corporate governance best practices have also stressed in particular the key role played by the audit committee in reviewing a firms internal control system. Internal control systems contribute to the protection of investors interests by providing reasonable assurance on the reliability of financial reporting, the effectiveness of operations and the compliance with laws and regulations (COSO, 1994; 2004). As such, we will also draw some attention on the importance of an audit committee. 2.3 The boards independence The popular media as well as corporate governance experts have characterised boards largely as rubber stamps for management. They are the link between the shareholders of the firm and the managers entrusted with undertaking the day-to-day operations of the organisation (Monks and Minow, 1995; Forbes and Milliken, 1999). As stated in principle 4 above, bank boards should properly supervise the work of managers. Which type of directors performs better this duty than independent director? In fact, such directors can bring additional experience as well as clarity of thought to deliberations independent of views of management. Moreover, since their careers are not tied to the firms CEO, outside directors are believed to be more powerful in keeping efficiently the firms top management (Fama, 1980; Fama and Jensen, 1983), and so could be associated with better performance. Some papers do support this theory. Baysinger and Butler (1985), being among the first studies, find that the relative independence of boards has a positive effect on the firms average return on equity by comparing 266 major US businesses over a ten-years period. Kesner (1987); Weisbach (1988); Rosenstein and Wyatt (1990); Peace and Zahra (1992); Ezzamel and Watson (1993); MacAvoy and Millstein (1999); Brown and Caylor (2004) and Ho (2005) also show that shareholder returns are enhanced by having a greater proportion of outside directors on the board. Research by Brickley, Coles, and Terry (1994) shows significantly higher returns to firms announcing poison pills(rights issued to shareholders that are worthless unless triggered by a hostile acquisition attempt) when outside directors dominate the board. Other studies supporting the benefit of the boards independence are Dechow and Sloan (1996); Beasely (1996) and Klein (2002) who state that as outside membership on the board increase s the likelihood of financial statement fraud decreases. There is also Black et al. (2006) who reports that firms with 50% outside directors have approximately 40% higher share price by studying 515 Korean firms. And more recently, Staikouras C. K., Staikouras P. K. and Agoraki M. K. (2006) find that the percentage of independent directors is positively related with performance measured by Tobins Q on a sample of European banks. On the other hand, others find no convincing evidence that the level of outside directors on the board do add value to corporate performance. For instance, Fosberg (1989) finds that firms whose board is composed of a majority of outside directors do not have a higher performance as measured by the firms ROE or sales. Similarly, Hermalin and Weisbach (1991) find that non-executive directors have no impact on corporate performance in their sample of 142 NYSE firms. Pearce (1983) also find no relationship, as too Changanti et al. (1985) in their study of board composition and bankruptcy. The lack of relation between these two components has also been confirmed by Klein (1998), Bhagat and Black (2002) and Hayes, Mehran and Scott (2004). Other scholars refuting the effectiveness of outside directors on the board are Subrahmanyam et al. (1997) and Harford (2000) for the acquisition transactions, Core et al. (1999) for CEO compensation and Agrawal and Chadha (2005) for earnings restatements . It is normally the board of directors which overviews and approves the risk management policies. But, few papers have tried to link its independence to the firms risk management practices and hedging. By analysing a sample of bank holding companies, Whidbee and Wohar (1999) find that the likelihood of using derivatives seem to increase with the presence of external directors on the board but only when insiders hold a large proportion of the firms shares. Borokhovich et al. (2004) demonstrate that firms most active in hedging risk, especially when making use of interest rate derivatives usage, are those whose boards are dominated by external directors. Conversely, Dionne and Triki (2004); Mardsen and Prevost (2005) point out that outside directors has no impact on the firms risk management policy. Given the mixed empirical findings, it is quite difficult to assert whether the board independence contribute to corporate performance and the effectiveness of risk management. Although Fields and Keys (2003) assert that there is overwhelming support for independent directors providing superior monitoring and advisory functions to the firm, a unique and clear sign concerning the effect of the boards independence on any decision including the risk management one could not be predicted. 2.4 The financial knowledge of the board To adequately perform their supervision role, the board of directors must have financial knowledge (which relate to principle 1). Indeed, when board members are generalists and lack the technical financial knowledge to understand the complicated reports presented to them, they could vote for motions that increase the risks facing of the firm to a large extent. The company may collapse in this way and therefore hinder the shareholders interest. Because of the banks dominant position in the economy; they should possess some financial expertise directors on its board so as to make better decisions that will not lead the firm to go bankrupt. However, given its importance, the research on the value of the boards financial knowledge is quite scarce. At times, reports recognising the benefits of the boards independence also recommend financial literacy/expertise for directors in monitoring the firms performance. In fact, Booth and Deli (1999) and Guner, Malmendier and Tate (2004) suggest that commercial bankers on boards provide the financial skill needed to enable the business to contract more debt. Thus, this states that financial directors do add value to the firm. There is also Rosenstein and Wyatt (1990) who provide evidence that positive abnormal returns associated with the addition of an outsider to the board are higher when the latter is an officer of a financial firm. Later on, Lee, Rosenstein and Wyatt (1999) do come to the same conclusion. However, they were unable to make any statistically difference among the reaction of the three categories of financial directors they consider: commercial bankers, insurance company officers and investment bankers. Moreover, Agrawal and Chadha (2005) discover that the probability of earnings restatement is lower in firms whose boards have accounting or financially knowledgeable independent directors. To the best of our knowledge, researches on the boards financial knowledge have only been related with the firms performance and not specifically on its impact on risk management practices. As mentioned earlier in this study, the board of directors is usually responsible for the firms risk management policies. In other words, risk management is at the core of any board members charter. Financially knowledgeable directors will obviously make better decisions on risk management practices since they will have the technical background to understand the sophisticated financial tools involved in the risk management transactions. As such, firms whose boards are composed of financially knowledgeable directors engage more actively in risk management. 2.5 The audit committee The audit committee is intended to provide a link between the board and the auditor independent of the companys management, which is responsible for the accounting system (IOD, 1995). The chief objectives of an audit committee are to improve the quality of financial reporting, to reduce the potential authority for the non-executive director, to improve the channel of communication with the external auditor and, perhaps most importantly, to review the adequacy of the companys financial control systems. Tricker (1984) defines audit committee as being an important vehicle for ensuring the supervision and accountability at board level. As such, audit committees are very important in banking to safeguard the shareholders interest as well as the public trust. Just as for the board of directors, independence is also considered important for audit committees because outside directors can exercise their voice and be seen to make a valuable contribution since they are free of any influence arising from the firms CEO. Thus, the reported empirical evidence supports this argument. Klein (2002) shows that independent audit committees reduce the likelihood of earnings management, thus improving transparency. In addition, Abbott, Park and Parker (2002) argue that firms with audit committees comprising entirely of independent directors are less likely to have fraudulent or misleading reporting. Ho (2005) states that there is a strong positive link between independent audit committee and corporate competitiveness and also with return on equity after analyzing the international companies from 1997to 1999. Brown and Caylor (2004) do provide evidence that audit committees comprising of independent directors are positively related to dividend but not to operating performance. On the other hand, some authors find a negative relationship or simply no relation at all between independent audit committee and the firms performance. Hayes, Mehran and Scott (2004) prove that the firms performance measured by the market to book ratio is not affected by the proportion of outside directors sitting on the audit committee. Agrawal and Chadha (2005) do come to the same conclusion by indicating that independent audit committee members are unrelated to earnings restatement. There are also Beasley (1996) who finds no apparent correlation between audit committees and financial statement fraud, and Klein (1998) who reports no relation between share prices and the audit committees composition. Yet, Carcello and Neal (2000) report a negative relationship between the probability of receiving a going-concern report and the proportion of outsiders on the audit committee. According to BÃ ©dard et al. (2004), each member of the audit committee should possess a certain level of financial competency. Moreover, corporate governance literatures argue that there should be at least one member of the audit committee with accounting background. Audit committees with such characteristics are expected to provide effective monitoring as they possess the skills needed to understand what is going on in the organisation. Agrawal and Chadha (2005) show that firms whose audit committees have an outside director with accounting background or financial knowledge are less likely to report earnings restatement while Abbott, Parker and Peters (2002) discover that the absence of a financially competent director on the audit committee is highly associated with an increased in financial misstatement and financial fraud. Xie, Davidson, and DaDalt (2003) find that the presence of investment bankers on the audit committee decreases discretionary accruals in a firm. Defond, Hann and Hu (2004) and Davidson et al. (2004) show that the market has a positive reaction following the appointment of directors with accounting /auditing experience on audit committees board. The audit committees are also responsible for evaluating the risk exposures and the measures taken to monitor and control these exposures. To our knowledge no paper has tried to link audit committees composition with risk management practices. Because of the mixed and conflicting argument on independence, it is difficult to attest whether audit committees independence encourage more corporate hedging. Risk evaluation and risk management tools are quite difficult to use. Understanding them requires a good grasp of mathematics and statistics. Therefore, we expect firms whose audit committees members are qualified as financial expert to engage more actively in risk management practices. Furthermore, The Cadbury Report has insisted that all listed companies should have an audit committee comprising of at least three members. This is to encourage firms to devote significant director resources to their audit committees so that audit committees monitor the firms management more efficiently. However, several studies support the idea that large boards can be dysfunctional. Larger audit committees may be plagued with free rider, communication problem and monitoring problems. Therefore, as long as the increase in the audit committees size does not pose these types of problems, firms complying with this requirement are expected to report a higher hedging ratio. Often, corporations, especially financial ones, create another committee named risk monitoring committees. These types of committee are often responsible of the risk monitoring of the firm. However, this does not imply that audit committees are no longer responsible for evaluating and managing risks. They must still discuss and evaluate risk management processes. In other words, audit committees are there to review risk management processes proposed by the risk monitoring committees. As such, same characteristics as audit committees should be applied to these types of committees to fulfil their duties well.

Coca-Cola Company Financial Results Analysis Essay

This paper will attempt to discuss the North American market for The Coca-Cola Company in the impact to volume growth or declines for the period, discuss the drivers of profitability during the quarter at The Coca-Cola Company and the likely long-term impact of these drives on profits, discuss the EPS results for the quarter in comparison to historic results and long-term growth targets, and discuss the emerging markets for The Coca-Cola Company and the likely future impact on earnings per share. Coca-Cola Company Financial Results Analysis Discuss the North American market for The Coca-Cola Company in the impact to volume growth or declines for the period The North American market for The Coca-Cola Company is growing positively. Increasing mobility of the company and continuing a positive image for emerging new middle class clients is fueling Coca-Cola into claiming the title of number one beverage producer in North America. Providing that outside factors do not put a slump on the economy, strategic focus of building a strong brand, creating a positive value for the products, and keeping with sound investment practices will ensure the continuing growth of The Coca-Cola Company. For the first quarter of 2012, the North American market for The Coca-Cola Company impact on volume was positive. First quarter reported that the North America Group’s volume grew 2% in the quarter. (Muhtar Kent, 2012) The net revenues increased by 5% with â€Å"as reported† volume growth of 1%. (Muhtar Kent, 2012) The volume growth reflected the effect of having one less day for the quarter in the current year. There was also a positive price/ mix of 3% and a 1% benefit due to the structural change in relation to the acquisition of Greayt Plains Coca-Cola Bottling Company. (Muhtar Kent, 2012) Sparkling beverage volume, drinks with carbonation, grew by 1% for the quarter and still beverage volume grew by 6%. (Muhtar Kent, 2012) There was a reported decline in operating income in the first quarter. (Muhtar Kent, 2012) Due to the cycling of lower commodity costs in prior periods as well as having one less day for sales in the current year quarter, comparable currency nuetral operating income declined 9% in the quarter. (Muhtar Kent, 2012) This decline may be linked to current year timing in comparison to the prior year, which was comtemplated in The Coca-Cola Company’s internal planning process. (Muhtar Kent, 2012) Discuss the drivers of profitability during the quarter at The Coca-Cola Company and the likely long-term impact of these drives on profits. The drivers for profitability came from strong brand programming, positive pricing of products and overall structure change. Smart investing is also another driver of profitability. The advertisement seen at events and on television programming has helped push The Coca-Cola Company’s products into the view of the consumers. The planning processes have positioned The Coca-Cola Company into staying conservative with its investments and watch the market fluctuations as to creating long term investment growth possibilities. (Muhtar Kent, 2012) Things on the radar for The Coca-Cola Company include watching the employment rate in the countries where they are located and the economic environment globally, in relation to if the markets are improving or declining. (Muhtar Kent, 2012) Keeping brands and investments healthy and positive are the main drivers that will impact the long term profitability of this company. Discuss the Earnings per Share results for the quarter in comparison to historic results and long-term growth targets. The earnings per share reported for the first quarter was $0.89. (Muhtar Kent, 2012) In comparison to April 30, 2011, the diluted net income per share was up by 9%, up from $0.82. (Muhtar Kent, 2012) The Coca-Cola Company launched a new program that was to starting the first quarter of 2012 and ending in 2015 called the â€Å"Productivity and Reinvestment program†. (The Coca-Cola Company Reports Full-Year and Fourth Quarter 2011 Results, 2012) This program ihas been set to provide an incremental yearly savings of $550 to $650 million. (The Coca-Cola Company Reports Full-Year and Fourth Quarter 2011 Results, 2012) This goal is fueled by the more than $500 million annualied savings from the previous productivity program launched in 2009 and ending in 2011. (The Coca-Cola Company Reports Full-Year and Fourth Quarter 2011 Results, 2012) The Company’s 2020 goal of designing and implementing the most effective and efficient business system is well on its way towards becoming a reality. Discuss the emerging markets for The Coca-Cola Company and the likely future impact on earnings per share Volume growth for newer markets in China, Japan, and Thailand are on the forefront of The Coca-Cola Company’s main list of places to increase their product presence and strengthen their brand. Having a good price mix of investments and watching the economic status of these countries will help the Company to make sound investment strategies and increase their earnings per share in these regions. China will be an important player in the growth of business for The Coca-Cola Company. This is one of the fastest and largest markets to gain control of and strong marketing practices, along with bringing new jobs to this powerhouse economy will only increase the likelyhood of achieving a positive earnings per share return. In Japan, expanding the current market of items like coffee, sparkling beverages, and teas would help to increase sales in this country. Keeping the brand present as this country tries to recover from a natural disaster in 2011 will help to ease The Coca-Cola Company’s presence back into the line of things for the consumers in this market. Working closely with bottling groups and keeping good ties are helping to spur coke in a positive direction as Japan attempts to recover from the prior year’s decline due to natural disasters. The Coca-Cola Company’s outlook remains positive as it attempts to keep moving forward in the market of beverages. The Company’s long term goals of increasing its efficiency in branding, increasing its productivity, creating new jobs globally, and working on restructuring the company is helping to keep the Company as a top contender in the beverages category and will help maximize its efforts to increase profits for itself and the shareholders.

Describe and Explain the Findings of the Vegetation

Describe and explain the findings of the vegetation quadrats along a transect on Studland sand dunes. Figure 1 Figure 1 The results of the vegetation quadrats along a transect on Studland sand dunes showed that the amount of vegetation increased and changed, while the percentage of bare ground decreased as the sampling sites increased. The reasons behind this can be explained by clarifying what a typical transect is, starting with low embryo dunes near the shoreline and much taller mature dunes several hundred meters back from the shore (as indicated in Figure 1).As you follow the transect from the beach, the dunes get older and the vegetation changes, gradually coving more and more bare sand and increasing in height. A graph to show % vegetation cover on Studland Dunes A graph to show % vegetation cover on Studland Dunes The data suggests that at the first sampling point that there is no vegetation present. This can be justified by the fact that the sample was taken just as the dune s started on the embryo dune.Therefore reasons for no vegetation is that there are extreme conditions at this point; very high pH values (8+); rapid drainage; no humus; high wind speed and lots of salt spray, all of which make it almost impossible for vegetation to grown and the colonies, furthermore this dune can be disappear as quickly as they form. From the graph we can see that sample site 2, 3 and 4 that is on average 98% bare ground and some vegetation is appearing as is suggests there is 2% marram grass, and at sample site 5 and 6 have a 100% cover in marram grass.I think the reasons for this is because there is sparse vegetation it must be a fore dune and sample 5 and 6 might be on a yellow dune. The percentages can be explained by using knowledge of the fore and dunes which are similar except for the their maturity (yellow dunes being older and slightly more developed). Thus, the vegetation has started to grow there because there is reduced winds speed (although its still h igh, marram grass has long deep roots), decreased pH values (marram grass is salt tolerant), water is lightly more retentive (marram grass has inrolled leaves to reduce moisture loss), some humus is formed and the dune surface is continuously blow away and replaced by new sand (when t is replaced it accumulated around vegetation, however strangely marram grass thrives on being buried in sand). At sample sites 7 to 10 the graph suggest that many plants are co-existing and are also closer together which is suggested by the fact that there is 0% for bare ground, also the height of vegetation increases to 90cm, which are all characteristics of grey dunes.The wider variety, and the densely population vegetation can be explained by the features of the dune, which is a lower pH, less wind (shelter by seaward dunes), therefore less mobile sand, thus sand no longer accumulating and higher humus content all of which combine together to make a better habitat for vegetation. Lastly sample sites 11-16 must be the mature dunes, however the graph also indicates this as almost all those samples have a large percentage of heather, which is extremely common in mature dunes.Mature dunes are perfect for acid loving plants (like heather) and a wide variety co-exist together, in mature dunes there is normally acidic soils, increased organic mater content (humus), rich in nutrition and shelter developed for seaward dunes. In sample site 14 it is almost an anomaly for mature dunes, in retrospect the sample could have been in a dune slack as it is a 100% moss, because in dune slacks you find moisture loving plants, which can survive in damp low lying hollows, when there is a high water table in winter and varying pH habitat, all of which moss could with stand.Overall the graph to showing the percentage of vegetation cover and height on Studland Dunes can be explained by understanding the transect of the beach, as vegetation changes along the transect according to the pH, wind conditio n, the soils moisture, and all other factors which have been said above depending on the dunes maturity.

Grammar rules - Emphasis

Grammar rules Grammar rules Grammar sends many people into a panic, as they desperately try to recall what they learned in English lessons at school. But grammar doesnt have to be an impenetrable mass of rules and regulations. Breaking the English language down into bite-sized chunks and understanding the basic principles of grammar can really help you to improve your writing and make it clearer for others to understand. So here are a few basic tips to help you with grammar in your writing. 1. Parts of speech English can be complicated and its easy to get in a muddle. Heres a reminder of some of the languages parts of speech: A noun. This is a naming word to indicate someone or something. There are various types of noun: common nouns (cat, flower); proper nouns (Berlin, Andy Warhol); and collective nouns (group, team). A verb. This is most easily remembered as a doing or action word, for example, the boy eats a big bag of sweets. All sentences must contain a verb. An adjective. This is a word that describes a noun. There are different sorts of adjective: descriptive adjectives (a brilliant party, a sunny day); numerical adjectives (seven apples, five gold rings); and possessive adjectives (my hat, your coat). An adverb. There are several categories of adverb: adverbs of manner (he ran quickly, she walked slowly); adverbs of time (I hope that Gran will visit us soon); and adverbs of place (please sign here). In each instance, the adverb tells us more about the verb. 2. Match your subjects and verbs Make sure that the verb you use always matches your subject. Consider the following sentence: A bunch of grapes cost 1.99. This is incorrect, because the subject is a bunch of grapes, so you should treat it as singular. The correct version would be: A bunch of grapes costs 1.99. 3. Make words in a list match When listing items in a sentence, make sure that the words you use complement each other. Consider the sentence: You can get to sunny Scunthorpe by train, car or cycling. Here two nouns (train and car) have been mixed with a verb (cycling). It would be better to say: You can get to sunny Scunthorpe by train, car or bicycle. You can find out more about grammar on an Emphasis in-company or public course. Or you can email us to find out how we can help your organisation.

Biography of Edward Blackbeard Teach, Pirate

Biography of Edward 'Blackbeard' Teach, Pirate Edward Teach (c. 1683–November 22, 1718), whose surname was spelled Thache and is better known as Blackbeard, was the most feared pirate of his day and perhaps the figure most often associated with the Golden Age of Piracy in the Caribbean- or piracy in general, for that matter. Fast Facts: Edward 'Blackbeard' Thache Known For: English privateer and pirate BlackbeardBorn: c.1683 in Gloustershire, EnglandParents: Captain Edward Thache, Sr. (1659–1706) and his first wife Elizabeth Thache (d. 1699)Died: November 22, 1718 off Ocracoke Island, North CarolinaSpouse(s): At least one in Jamaica, who died before 1721; he may have married a local girl in Bath, North Carolina in 1718Children: Elizabeth, who married Dr. Henry Barham in 1720 Blackbeard was a skilled pirate and businessman, who knew how to recruit and keep men, intimidate his enemies, and use his fearsome reputation to his best advantage. Blackbeard preferred to avoid fighting if he could, but he and his men were deadly fighters when they needed to be. He was killed on November 22, 1718, by English sailors and soldiers sent to find him. Early Life Blackbeard was born Edward Thache Jr. (pronounced Teach and alternately spelled Teach, Thatch, Theach, or Thach) in about 1683, in Gloucestershire, England up the Severn River from the port city of Bristol. He was one of at least two children of Captain Edward Thache, Sr. (1659–1706) and his first wife Elizabeth Thache (d. 1699).  Edward Sr. was a mariner who moved the family to a plantation in Jamaica, where the Thaches lived as a respectable family living not far from Port Royal in the old city of Spanish Town, also known as St. Jago de la Vega. In 1699, Edward Sr.s first wife Elizabeth died. He remarried six months later to Lucretia Ethell Axtell. They had three children, Cox (1700–1737), Rachel (born 1704), and Thomas (1705–1748). After his father died in 1706, Edward Jr. (Blackbeard) turned over his inheritance from  his father to his stepmother.   Edward Jr. (Blackbeard) was a mariner based in Kingston, Jamaica, and was married to a woman who probably died before 1721- records were not kept in Kingston until then. The couple had at least one surviving daughter, named Elizabeth, who married Dr. Henry Barham in 1720.  Blackbeards sister, also named Elizabeth, married a man named John Valiscure, in Jamaica, in 1707. The Life of a Pirate The main source used for Thaches biography is A General History of the Robberies and Murders of the Most Notorious Pyrates, a book published in May 1724 by Nathaniel Mist (a.k.a. Captain Charles Johnson). It was an overnight success and a second edition was published a few months later, and a third in 1725 and expanded fourth in 1726- many of the details in the latest edition were embroidered to be more salacious and sensational. Mist, who was a former sailor, printer, and journalist in London, based his tales on trial records, newspaper reports, and personal contact with retired pirates. Mist described Blackbeard as outrageous and scary, but many of his tales were overblown.  Since then, historical, genealogical and archaeological studies have pared back to the events that are likely to have happened. Edward Thache Jr. was a mariner by trade who served on a Royal Navy vessel, the HMS Windsor, as early as 1706. He became a privateer under the English flag at the end of Queen Annes War (1702–1713), a common gateway to piracy. Association With Hornigold Thache joined the crew of Benjamin Hornigold, at that time one of the most feared pirates of the Caribbean. Their earliest joint venture was after July 3, 1715, when a hurricane on the coast of Florida wrecked 11 ships, an entire flotilla of Spanish treasure galleons, dumping that treasure along the coastline. The entire community had been fishing the wrecks and raiding the Spanish salvage workers when the governor of Jamaica commissioned Thache and Hornigold to recover it for them. Hornigold saw great potential in Teach  and soon promoted him to his own command. With Hornigold in command of one ship and Teach in command of another, they could capture or corner more victims, and from 1716 to 1717 they were greatly feared by local merchants and sailors. Hornigold retired from piracy and accepted the Kings pardon in early 1717. Blackbeard and Stede Bonnet Stede Bonnet was a most unlikely pirate: he was a gentleman from Barbados with a large estate and family who decided he would rather be a pirate captain. He ordered a ship built, the Revenge, and fitted her out as if he were going to be a pirate hunter, but the minute he was out of port he hoisted the black flag and began looking for prizes. Bonnet did not know one end of a ship from the other and was a terrible captain. After a major engagement with a superior ship, the Revenge was in bad shape when they limped into Nassau sometime between August and October 1717. Bonnet was wounded, and the pirates on board begged Blackbeard, who was also in port there, to take command. The Revenge was a fine ship, and Blackbeard agreed. The eccentric Bonnet stayed on board, reading his books and walking the deck in his dressing-gown. Blackbeard on His Own Blackbeard, now in charge of two good ships, continued to prowl the waters of the Caribbean and North America. On November 17, 1717, he captured La Concorde, a large French slaving ship. He kept the ship, mounting 40 guns on it and naming it Queen Annes Revenge. The Queen Annes Revenge became his flagship, and before long he had a fleet of three ships and 150 pirates. Soon the name of Blackbeard was feared on both sides of the Atlantic and throughout the Caribbean. Blackbeard was much more intelligent than your average pirate. He preferred to avoid fighting if he could, and so cultivated a very fearsome reputation. He wore his hair long and had a long black beard. He was tall and broad-shouldered. During the battle, he put lengths of a slow-burning fuse in his beard and hair. This would sputter and smoke, giving him an altogether demonic look. He also dressed the part, wearing a fur cap or wide hat, high leather boots, and a long black coat. He also wore a modified sling with six pistols into combat. No one who ever saw him in action forgot it, and soon Blackbeard had an air of supernatural terror about him. Blackbeard in Action Blackbeard used fear and intimidation to cause his enemies to surrender without a fight. This was in his best interests, as the victimized ships could be utilized, valuable plunder was not lost and useful men such as carpenters or doctors could be made to join the pirate crew. Generally, if any ship they attacked surrendered peacefully, Blackbeard would loot it and let it go on its way, or put the men aboard some other ship if he decided to keep or sink his victim. There were exceptions, of course: English merchant ships were sometimes treated harshly, as was any ship from Boston, where some pirates had recently been hung. Blackbeard had a distinctive flag. It featured a white, horned skeleton on a black background. The skeleton is holding a spear, pointing at a red heart. There are red blood drops near the heart. The skeleton is holding a glass, making a toast to the devil. The skeleton obviously stands for death for enemy crews who put up a fight. The speared heart meant that no quarter would be asked or given. Blackbeards flag was designed to intimidate opposing ship crews into surrendering without a fight, and it probably did. Raiding the Spanish In the late part of 1717 and early part of 1718, Blackbeard and Bonnet went south to raid Spanish ships off Mexico and Central America. Reports from the time indicate that the Spanish were aware of the Great Devil off the coast of Veracruz who was terrorizing their shipping lanes. They did well in the region, and by spring of 1718, he had several ships and close to 700 men when they arrived in Nassau to split up the plunder. Blackbeard realized he could use his reputation to greater gain. In April 1718, he sailed north to Charleston, then a thriving English colony. He set up right outside Charleston harbor, capturing any ships that tried to enter or leave. He took many of the passengers aboard these ships prisoner. The population, realizing that none other than Blackbeard himself was off their shores, was terrified. He sent messengers to the town, demanding a ransom for his prisoners: a well-stocked chest of medicine, as good as gold to a pirate at the time. The people of Charleston happily sent it and Blackbeard left after about a week. Breaking up the Company Near the middle of 1718, Blackbeard decided he needed a break from piracy. He devised a plan to get away with as much of his loot as possible. On June 13th, he grounded the  Queen Annes Revenge  and one of his sloops off the coast of North Carolina. He left the Revenge there, and transferred all of the loot to the fourth and last ship of his fleet, marooning most of his men on an island that was visible from the mainland. Stede Bonnet, who had gone to unsuccessfully seek a pardon, returned to find that Blackbeard had absconded with all the loot. Bonnet rescued the marooned men and set off in search of Blackbeard, but never found him. A Pardon and Marriage Blackbeard and some 20 other pirates then went to see Charles Eden, the governor of North Carolina, where they accepted the Kings Pardon. In secret, however, Blackbeard and the crooked governor had made a deal. These two men realized that working together, they could steal far more than they could alone. Eden agreed to officially license Blackbeards remaining vessel, the  Adventure, as a war prize. Blackbeard and his men lived in a nearby inlet on Ocracoke Island, from which they occasionally sallied forth to attack passing ships. In the town of Bath, local lore is said to have married a young woman there and had several children. He and his shipmates provided the town with cash, black market goods, and manpower. On one occasion, the pirates took the French merchant ship the Rose Emelye loaded with cocoa and sugar: they sailed it to North Carolina, claimed they had found it afloat and abandoned, and shared the spoils with the governor and his top advisers. It was a crooked partnership that looked to enrich both men. Blackbeard and Vane In October 1718,  Charles Vane, leader of those pirates who had rejected Governor Woodes Rogers offer of a royal pardon, sailed north in search of Blackbeard, who he found on Ocracoke Island. Vane hoped to convince the legendary pirate to join him and reclaim the Caribbean as a lawless pirate kingdom. Blackbeard, who had a good thing going, politely declined. Vane did not take it personally and Vane, Blackbeard, and their crews spent a rum-soaked week on the shores of Ocracoke. Local merchants soon grew infuriated with a pirate operating  nearby  but were powerless to stop it. With no other recourse, they complained to Governor Alexander Spotswood of Virginia. Spotswood, who had no love for Eden, agreed to help. There were two British warships currently in Virginia: he hired 57 men off of them and put them under the command of Lieutenant Robert Maynard. He also provided two light sloops, the  Ranger  and the  Jane, to carry the soldiers into the treacherous inlets of North Carolina. In November, Maynard and his men set out to look for Blackbeard. Blackbeards Final Battle On November 22, 1718,  Maynard and his men found Blackbeard.  The pirate was anchored in Ocracoke Inlet and, fortunately for the marines, many of Blackbeards men were ashore including Israel Hands, Blackbeards second-in-command. As the two ships approached the Adventure, Blackbeard opened fire, killing several soldiers and forcing the  Ranger  to drop out of the fight. The Jane closed with the  Adventure  and the crews fought hand-to-hand. Maynard himself managed to wound Blackbeard twice with pistols, but the mighty pirate fought on, his cutlass in his hand. Just as Blackbeard was about to kill Maynard, a soldier rushed in and cut the pirate across the neck. The next blow took off Blackbeards head. Maynard later reported that Blackbeard had been shot no fewer than five times and had received at least 20 serious sword cuts. Their leader gone, the surviving pirates surrendered. About 10 pirates and 10 soldiers died: accounts vary slightly. Maynard returned victorious to Virginia with Blackbeards head displayed on the bowsprit of his sloop. Legacy Blackbeard had been seen as an almost supernatural force, and his death was a great boost to the morale of those areas affected by piracy. Maynard was hailed as a hero and would forever after be known as the man who had killed Blackbeard, even if he didnt do it himself. Blackbeards fame lingered long after he was gone. Men who had sailed with him automatically found positions of honor and authority on any other pirate vessel they joined. His legend grew with every retelling: according to some stories, his headless body swam around Maynards ship several times after it was thrown into the water following the last battle! Blackbeard was very good at being a pirate captain. He had the right mix of ruthlessness,  cleverness,  and charisma to be able to amass a mighty fleet and use it to his best advantage. Also, better than any other pirates of his time, he knew how to cultivate and use his image to maximum effect. During his time as a pirate captain, about a year and a half, Blackbeard terrorized the shipping lanes between the Americas and Europe, but there is no evidence that he ever killed anyone until his final battle. All told, Blackbeard had  little  lasting economic impact. He captured dozens of ships, its true, and his presence greatly affected transatlantic commerce for a time, but by 1725 or so the so-called Golden Age of Piracy was over as nations and merchants worked together to combat it. Blackbeards victims, the  merchants  and sailors, would bounce back and continue their business. In Fiction and Archaeology Blackbeards cultural impact, however, is tremendous. He still stands as the quintessential pirate, the fearsome, cruel specter of nightmares. Some of his contemporaries were better pirates than he was- Black Bart Roberts  took many more ships- but none had his personality and image, and many of them are all but forgotten today. Blackbeard has been the subject of several movies,  plays  and books, and there is a museum about him and other pirates in North Carolina. There is even a character named Israel Hands after Blackbeards second-in-command in  Robert Louis Stevensons  Treasure Island. Despite  little  solid evidence, legends persist of Blackbeards buried treasure, and people still search for it. The wreck of the  Queen Annes Revenge  was discovered in  1996  and has turned out to be a treasure trove of information and articles. The final report was published in 2018 as Blackbeards Sunken Prize: The 300-Year Voyage of Queen Annes Revenge. Among the findings reported by archaeologists Mark Wilde-Ramsing and Linda F. Carnes-McNaughton, are the wrecks nearly certain identification as the QAR, based on the location and the presence of 45 classes of late 17th and early 18th century artifacts, including the ships bell cast with a date of 1705, and a Swedish-made cannon with a date of manufacture of 1713. Evidence also indicates that Blackbeard dealt in slaves, who were kept as menial laboaers and perhaps elevated to crew status. Many of the more interesting relics found there are on display at the North Carolina Maritime Museum in nearby Beaufort. Sources Brooks, Baylus C. Born in Jamaica, of Very Creditable Parents or a Bristol Man Born? Excavating the Real Edward Thache, Blackbeard the Pirate. The North Carolina Historical Review 92.3 (2015): 235-77.Cordingly, David.  Under the Black Flag  New York: Random House Trade Paperbacks, 1996.Johnson, Captain Charles [pseudonym of Nathaniel Mist].  A General History of the Pyrates. Edited by Manuel Schonhorn. Mineola: Dover Publications, 1972/1999.Konstam, Angus.  The World Atlas of Pirates.  Guilford: The Lyons Press, 2009Wilde-Ramsing, Mark U., and Linda F. Carnes-McNaughton. Blackbeards Sunken Prize: The 300-Year Voyage of Queen Annes Revenge. Chapel Hill: University of North Carolina Press, 2018.Woodard, Colin.  The Republic of Pirates: Being the True and Surprising Story of the Caribbean Pirates and the Man Who Brought Them Down.  Mariner Books, 2008.

Conflict in an organisation Essay Example | Topics and Well Written Essays - 1250 words

Conflict in an organisation - Essay Example Hence it is an easygoing workplace which takes care of the employees in a free-flowing way (Pelled 1999). The work tasks are therefore dependent on one another yet being independent at the same time. This means that there are as such no dependencies within the working bases of the employees however they have to interact with one another so that team development could prevail at the end of the day. This also gives the employees a chance to know each other better and in a more resolute way. They also explain the issues that crop up at their respective ends and then go about solving the same through collective bodies. The dispute that took place was between two employees who never got along at the workplace. It was an issue that happened due to inflated egos of John and George. Both of them detested each other in entirety and did not appreciate the existence of the other one whilst being at work (Harper 1994). There was a form of negative chemistry that existed between the two and it ha d long-lasting repercussions as far as work domains within the organization were concerned. Both of them had a heated debate in a meeting and this led to a physical brawl between the two. This was indeed the beginning of much more that was waiting to happen within the workplace realms. The clues present in the wake of understanding whether or not this was a conflict situation come about when one tries to relate the different nuances which happened in the first place (Meyer 2004). This was a conflict that led to a physical attack on the part of John which put George in a very difficult position. George could have held back and let John face all the music as then the human resources department would have taken serious notice of the fight but this did not happen. George lost his cool and attacked John in return. Both men started to fight without any purpose. They just wanted to make their viewpoints clear – the other one should not be allowed to have his way no matter what

Sab 361 unit 2 Essay Example | Topics and Well Written Essays - 500 words

Sab 361 unit 2 - Essay Example A true account is that sports are made up of aspects such as accountability, sportsmanship, setting a good example and acceptable moral behavior. It is therefore, expected that participation in sports in addition to a conducive environment and coaching strategy will to a significant extent, will modify thus build someone’s character. This has been the dreams of coaches, physical education teachers, trustees among other relevant stakeholders. However, the ideals of sports in relation to building an individual’s characters are usually degraded by situation of drug use (for enhancement purposes), injuries, fights and even instances of molestation (Edmundson, 2012). I believe that sports do play a significant role in building someone’s character. Practicing is important in any sporting activity. Practicing is concerned with trying out particular routines with a view to achieve perfection. It is important to note that trials do come with events of failure. It is only after failing that one succeeds. This entire process instills a sense of patience, hope, resilience among others. These are clearly elements of good character and should be encouraged at all costs. Sports offer a favorable opportunity for socialization. Sportsmen and women learn to play as a team, communicate in a similar language in order to achieve a common goal. In other words, sports enhance morality in addition to desirable qualities such as the effectives to handle tasks, time consciousness and perseverance. Sports can also result into negative traits such as violence. Farley (2010) reveals that excellence has always been the greatest desire of any athlete. Various types of sports have rules that are supposed to be adhered to. An athlete is therefore expected to train/practice with respect to those rules. It should be noted that an individual can succumb to intense pressure to perform. This