Ponzi Scheme

Introduction A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individual or organization running the operation. Objectives We learn how it started. We learn the key elements in running a Ponzi scheme. We learn how big a Ponzi schemes can get. We learn how a Ponzi scheme falls apart. We learn how to identify and avoid being involved in a Ponzi scheme. Methodology- This topic is from a secondary source. The scheme is named after Charles Ponzi, who became notorious for using the echnique in 1920.Ponzi did not invent the scheme (for example, Charles Dickens' 1844 novel Martin Chuzzlewit and 1857 novel Little Dorrit each described such a scheme), but his operation took in so much money that it was the first to become known throughout the United States. Five Key Elements in running a Ponzi Scheme: 1) The Benefit: A promise that the investment will achi eve an above normal rate of return. The rate of return is often specified. The promised rate of return has to be high enough to be worthwhile to the investor but not so high as to be unbelievable.Madoff, that had a great deal of credibility as he had been in the investment business since 1960. Madoff had also been the chairman of the board of directors of NASDAQ, an American stock exchange. The estimated losses from the Ponzi scheme are in between 34 and 50 billion U. S. dollars. Unravelling / Fallout of a Ponzi scheme -When a Ponzi scheme is not stopped by the authorities, it sooner or later falls apart for one of the following reasons

Mao

Twentieth century has brought many revolutions on the face of the world. The century have seen a list of dictatorships, some constructive and others destructive. Leader principle, has however, been recognized as a basis of dictatorship. Chinese Revolution has been one of these mega revolutions of the twentieth century. The ultimate objective of the revolution was to bring China out of the ‘liberal bourgeoisie’, and the revolution was launched by the communist party under the supervison of great Mao Zedong. While discussiong the Chinese revolution, the great leap forward and the immediate infulence of the revlotuion, the role that Mao Zedong played as a leader cannot be ignored. Mao’s career examplifies the leader principle in a variety of styles. Being trained in a Chinese classics and later receiving the modern education, Zedong has deeeply observed the oppresive conditions of the society and aimed to nip the adversities in the bud. The reason behind the fact that people of China regard him as a symbol is his philosophy. The development of Maoist ideology was based on the foreign philosophical doctrines of Karl Marx and Vladimir Lenin. Mao, however, sinified Marxism in an attempt to ensure unrealistic future growth (Cheek, Timothy). Though, following the Marxist school of thought for the betterment of the economic structure of the country Mao’s belief of dictatorship has also some great influences on his career. Every Communist must grasp the truth: Political power grows out of the barrel of a gun (Zedong Mao). This statement of Mao clearly mentions that, in order to bring a change in status quo, the importance of political power cannot be denied, and the political power lies in leader principle. Though Mao’s career has mostly been highlighted with reference to the great Chinese Revolution, but his efforts date from the foundation of Chinese Communist Party, then Mao during the Second World War, and of course the prominent figure of the Chinese Revolution. Mao’s personality following the leader principle during the Second World War has been highlighted mostly because of the policies of Chiang Kai Shek, the opposition leader who consumed all of his energies to fight the communists, instead of the invading Japanese forces. This gave a plus point to Mao in fact. After this Mao’s efforts to bring the economic equilibrium in the country with special reference to the Chinese Revolution, has emerged in the history as a milestone. Though the revolution has been aimed to nip the roots of socialism, and was certainly in the favor of masses, but it still faces some critiques. According to Timothy Cheek, The Great Leap Forward was a product of Mao’s utopian visions at the Beidaihe Conference in August 1958 (Cheek 160). The Great Leap Forward was in fact the ultimate outcome of Mao’s Marxist view. It resulted in the boost of industries on one hand pushing the production levels higher, but on the other hands the peasantry and the agriculture sector got neglected very badly, as most of the farmers and the peasants left the occupation and started making steel. Cheek further says that ‘people simply believed in Mao’ (Cheek xiv). This statement of Cheek is of contradictory nature. On one hand it gives an impression that, the policies of Mao have been much attractive for the people, and on the other hand it may reflect the essence of dictatorship, where by people have no other option. The twenty seven years of rule made Mao a different image in the history, combination of achievements and a bit flaws. One more important element in the career of Mao Zedong was the personality cult in 1968. This gave Mao the ultimate political power and according to some researches, he sent his disloyal official to the country side to work in the labour camps. In the same time Zedong ordered to the young intellectuals to move to the countryside in order to educate the masses at villages. This effort of Zedong has largely been appreciated among the Chinese and that is the reason they gave him a God-like status. The young intellectuals though ordered to move to the villages, were allowed to get back to the cities later. The Cultural Revolution, people’s access to criticize the social and cultural institutions, and the economic and the political development in China has largely been associated with Zedong’s principle leadership. His thought became the central operative guide for the people of China; they ignored the traditional art and ideas while praising his efforts. Though being so much praised, there are some other views as well. Cheek at one place says ‘Jiang and David Ashley purport that Mao’s revolutionary achievements allowed him to continue to command immense respect (Cheek, xiv). This may be true to some extent, but in general, if a leader moulds the society and the economy in a more productive way with a specific acceleration, the respect among masses is the only and biggest reward for him. Mao’s career entitled with a long list of achievements has not only led him to have the respect and a God like status, but to have his name as a great leader of the history as well. It’s reported that, on Mao’s death people have been found crying on the streets. Some experts rate Mao’s era with 70% success and 30% failure. So 70% success is not bad at all. And the leader leading the nation towards this success if given the God-like status is not a command respect in my opinion. Mao’s era entitled with the social and economic achievements, though criticized to a limited extent, makes him the best leader in the history of China. And while comparing the other dictatorships in the world during the twentieth century, he’s been the most respected and successful one. Â   Work Cited: 1- Cheek, Timothy. [2002] (2002). Mao Zedong and China's Revolutions: A Brief History with Documents. Palgrave Macmillan Publishing. ISBN 0312294298 Â   Â   Â   Â   Â   Â  

Fieldstone Private Capital Group Essay Example | Topics and Well Written Essays - 3000 words

Fieldstone Private Capital Group - Essay Example ally offers advisory services to the corporation about leveraged buyouts, private capital raises and mergers and acquisitions in infrastructure and energy industries globally. The company takes pride in being an independent employee owned venture and that allows them to offer unbiased, objective and independent ideas that are specifically designed and developed for the purpose of fulfilling the client’s long term needs (FPCG, 2013a). The company caters to a diversified client base. It ranges from small and medium sector enterprises to some of the world’s largest corporations. In addition to private sector companies, Fieldstone also offers advisory services to the government firms especially in the area of infrastructure and energy. Apart from the financial services, Fieldstone is also active in the field of CDO and high yield markets through its Fieldstone Capital Group, which is a division of Fieldstone Services Corp (Forbes, 2009). b) Location of Fieldstone Fieldstone is a company which has been able to generate a sense of trust among the consumers around the world. This is due to the company’s presence in the market for over 2 decades. During this epoch, there are hardly any negative statements came into light which was against the company or that hampered the image of the company (Keillor, 2007). Fieldstone operates in a number of places around the world. The places in which the company has presence are Berlin, Johannesburg, Hyderabad, Kuala Lumpur, London and New York (Bloomberg, 2013). The service offered by the company is almost similar in every country. However in case of South Africa, where the company operate through its Johannesburg office, offer some additional services to the customers. In the context of German market, the company is considered as an... Fieldstone is a company which has been able to generate a sense of trust among the consumers around the world. This is due to the company’s presence in the market for over 2 decades. During this epoch, there are hardly any negative statements came into light which was against the company or that hampered the image of the company. Fieldstone operates in a number of places around the world. The places in which the company has presence are Berlin, Johannesburg, Hyderabad, Kuala Lumpur, London and New York. The service offered by the company is almost similar in every country. However in case of South Africa, where the company operate through its Johannesburg office, offer some additional services to the customers. In the context of German market, the company is considered as an important player in the financial advisory services industry. For example, it has played the role of a financial advisor for a number of vital projects within the country. In the recent past, Fieldstone ac ted as exclusive debt advisor for Mainova AG in structuring, developing and facilitating the execution of the transactions.

Evaluation of the use of Internet Marketing in the Home Appliances Research Paper

Evaluation of the use of Internet Marketing in the Home Appliances Sector in India - Research Paper Example Computers and Information Technology (IT) have brought about a sea change in most of the domains of human activity The manner in which business enterprises conduct many of their business activities has also been hugely impacted on by computers and information technology, because of the benefits that business enterprises have found in incorporating computers and information technology into the various business activities. The Internet is one of the major developments in information technology. The spread of the use of Internet has been dramatic since its advent a little over five decades ago, such that there is hardly any sphere of human activity that it has not penetrated into. Marketing is a key functional area of a business enterprise and the Internet offers high potential for marketing to be more effective in all its areas of functionality. There is a growing body of knowledge to support the use of Internet in marketing efforts to make it more efficient and effective. The customer is the focus of any business enterprise and the Internet assists marketing in restating and emphasizing this focus India along with China is considered to be the growing and dynamic economic forces in Asia. Furthermore, India is known to have a strong base for software developments increasing the application of computers and the Internet in different fields. This strength has the potential to benefit the marketing efforts of Indian business organizations, as these business organizations attempt to spread their imprint around different places of the world. Understanding the depth to which the Internet is used by the business enterprises in their interaction with consumers and evaluating how it is used will add to the body of knowledge of the use of internet by business enterprises around the world. A feature of this increased understanding will lie in its ability to show how the business enterprises in an emerging economy can use the Internet for their marketing efforts and open out new lines of study to provide a comprehensive body of knowledge on it. From a personal perspective, I was born in I ndia and my early education was completed in India. I am keen to understand the characteristics of the business environment in India and this study helps me in that direction. Aim of the Study The aim of the study is evaluate the extent to which Internet marketing is used in the home appliances sector in Indi

IOM Assignment Example | Topics and Well Written Essays - 250 words

IOM - Assignment Example When the country is equipped with such a big number of professionals, it becomes much easier to satisfy the diverse needs of clients throughout the nation (DeWit 322). The acquisition of a baccalaureate degree is of great value because it can improve the standard of healthcare in the country. Therefore, it should be implemented by bringing the public and private sector together. First, the health care organizations within the country should urge all the nurses with diploma and associate degree qualifications to enroll for a baccalaureate degree program upon the completion of their courses (DeWit 319). Besides, both the public and private funders should be ready to work as a team. They should allocate enough funds to support bac ­calaureate programs. This would enable many nurses to enroll for it. Last, but not least, the U.S. Secretary of Education, Health Resources and Services Administration and other agencies should avail loans and grants for the nursing students who are willing to pursue baccalaureate degree programs. These would make it much accessible to them whenever they need

Network security Dissertation Example | Topics and Well Written Essays - 12500 words

Network security - Dissertation Example The consequences of plagiarism have been explained to me by my institution; and 3. The project is all my own work and I have acknowledged any use of others’ published or unpublished works. 4. The project was completed over the period from January 2011 to June 2011. Student Signature:_______________ Date: __________________ Acknowledgements I would like to thank all the technical staff of Majan College who have helped me throughout the completion of this project with various ideas. Also I would like to thank my friend Mr. Bader who actually was a major support with his connections in the educational institutions of Oman. Special thanks for my friend Mr. Safi Ullah Sharief who has helped me in proof reading of this project. I extend all my thanks to all the network administrators and the supporting staff in the computer department of various colleges in Sultanate of Oman, who despite of their busy schedule help me in providing the information and technical details, without which this project could not have be done by me. I express my gratitude to my family for their patience, understanding care and support which they provided to me during this period. And sincere appreciation goes to Dr. Kim Heng Teo for the advisory support during the formulation of this project Abstract Network security is a crucial issue. For wired network and wireless network, somewhat transformed security measures are required as wireless network requires more strict security as compared to wired network. The educational institutions make use of wired as well as wireless networks for their processes and procedures. Students, staff and other faculty members make use of the network for accessing required data and information. The combination of wired and wireless networks plays an important part in enabling network users to enjoy a network that is more optimized and resourceful. When wired network is combined with wireless network, there are some implications for security on educational institutions. A research is conducted with the help of a questionnaire that is generated to collect the responses of respondents on the issue of security needs for wired and wireless networks. A total of forty one respondents submitted filled in questionnaires. The research is set in colleges in the context of improvising the security of the college network after adding the wireless network (Wireless LAN) with the existing wired network (Local LAN). The problem for the Network administrators is focused on understanding that the security needs to be strengthened when a wireless network is added to the wired network. In addition to the questionnaire, interviews are also conducted with some questions to know the security issues raised after interconnection of the two networks. The research analyzes that the business impacts of combined wireless and wired network security in educational institutions. The benefits associated with the usage of combined network are better speed, enhanced bandwidth, wider communication and better information retrieval. Disadvantages such as theft of passwords and personal financial data are there. The combined network will be more beneficial than disadvantageous for the users of the network. Abbreviation IT Information Technology PC Personal Computer LAN Local Area Network MAC Mandatory Access Control WEP Wired Equivalent Privacy ADSL Asymmetric

Strategic Management Plan Research Paper Example | Topics and Well Written Essays - 2000 words

Strategic Management Plan - Research Paper Example The core competencies of the company have also been discussed so that measures can be adopted in order to enhance the core skills and expertise of the company. The basic business strategies of the company have also been discussed and the new strategies were designed keeping in mind the basic strategies. An organization chart has been shown to have a clear idea regarding the hierarchy of the company. The significant role played by Information Technology (IT) in the company has been discussed and the advantages of it have also been highlighted. The study also throws light on the fact that the company actively uses the IT which makes the operations of the company much easier. It has also been seen regarding the advantages that can be derived from IT to help people access information about medicines and other related topics quite easily and that too without needing a prescription. The need for control systems in the company for quality check and the need for a crisis management plan have also been discussed. ... Strategic planning is a tool of management which facilitates an organization to keep its energy focused, make sure that the employees and other members are working keeping in view the common goal of the organization and assist to evaluate and amend the course of the organization in reacting to the environmental changes. Strategic planning is a closely controlled endeavor to generate basic actions and decisions that would help in shaping and directing an organization (Namac, 2009). Strategic planning is known to be a ‘game plan’ that helps in achieving competitive advantage and fetch in high profits. Therefore, it can be understood that strategic planning is an indispensable part of every business, irrespective of the size of business. Large businesses have more time and resources to dedicate to strategic planning whereas small businesses have the advantage to act quickly and be in close contact with the stakeholders (May, 2010). Strategic plan of an organization is consi dered to be the base on which each and every activity of business can be linked and associated with (Lawlor, n.d). To get a proper understanding, a strategic plan will be designed for the organization, Pfizer and the vital elements of the particular strategic plan will be discussed. Overview of the Company Two cousins named Charles Erhart and Charles Pfizer established Pfizer in the year 1849. It is a pharmaceutical company that is devoted towards developing and finding out improved ways to treat and resist disease. The company aims at improving well being and health of people across the globe. The company operates a website of medicine safety where all kind of queries related to medicines are answered and allows people to access information regarding important

Conveyance Essay Example | Topics and Well Written Essays - 2000 words

Conveyance - Essay Example Normally the contract is conditional upon matters such as the sellers being able, before completion of the transaction, to prove that they have good title to the property and to exhibit clear searches from the property registers and the local authority. The system of conveyancing is designed to ensure that the buyer gets the land together with all the rights that go with it, i.e. title deed to the land and also by knowing about any restrictions in advance. A typical conveyancing transaction, whether a sale or purchase, contains two major 'landmarks', which are exchange of contracts and completion, plus the three stages: before contract, before completion and after completion. Under English law agreements are not legally binding until contracts are exchanged. This mainly involves a normal practice where the buyer negotiate an agreed price with the seller then organize a survey and have the solicitor (or conveyancer) carry out their searches and prepare the contract, which are signed by the parties. Similarly, deeds are done in writing and the signature of the party or parties making the deed must be witnessed. All conveyances, transfers, leases, mortgages and legal charges must be deeds. Thus, notwithstanding the growing use of electronic communication at all the other stages of a conveyancing transaction; the two key stages of making the contract and completion must be achieved by using paper documents. The process takes an average 10-12 weeks to get the deeds to the property, and during this period either party can pull out at any time. This gives rise to a risk of gazumping. The position in Scotland under Scots law is that the contract is generally con cluded at a much earlier stage, and the initial offer, once accepted by the seller, is legally binding. Bebchuk, Lucian A., and Mark J. Roe, (1999) In United States The conveyancing process in the U.S. varies from state to state depending on local legal requirements and historical practice. Edwin.T, Freedley (1858). In most situations, three attorneys will be involved in the process each representing the buyer, seller, and mortgage holder; frequently all three will sit around a table with the buyer and seller and literally "pass papers" to effect the transaction. (Some states do not require all parties to be present simultaneously.) In order to protect themselves from defects in the title, buyers will frequently purchase title insurance at this time, either for themselves or for their lender. In most states, a prospective buyer's offer to purchase is made in the form of a written contract and bound with a deposit on the purchase price. The offer will set out conditions (such as appraisal, title clearance, inspection, occupancy, and financing) under which the buyer may withdraw the offer without forfeiting the deposit. Once the conditions have be en met (or waived), the buyer has "equitable title" and conveyancing proceeds or may be compelled by court order. There may be other last-minute conditions to closing, such as "broom clean" premises, evictions, and repairs. Typical papers at conveyancing include: deed(s), certified checks, promissory note, mortgage, certificate of liens, pro rata property taxes, title insurance binder, and fire insurance binder. There may also be side agreements (e.g., holdover tenants, delivery contracts, payment

Economical Analysis Essay Example for Free

Economical Analysis Essay In this section, an economical analysis will be carried out to compare the generation cost of electricity from two different sources. The generation cost of electricity ($/kWh) from PV system as well as gas turbine will be considered. The computation for cost of electricity irrespective of the source depends on several factors such as the cost of capital, the productivity and the life of the plant as well as the fuel and operation and maintenance costs. Renewable sources have distinct characteristic of eliminating fuel cost and, as a consequence once the plant is setup, the energy costs are largely fixed and inflation has a slight affect. However, productivity is highly dependent on the site or location; hence the cost of energy cannot be uniquely defined. Generation of electricity by burning fossil fuels incurs elements of costs, which conventionally are not directly attributed to these processes. These costs are termed â€Å"External â€Å" costs. They originate, for example, in subsidies such as additionally provided infrastructure and Research and Development and environmental pollution. In contrast, renewable energy technologies incur marginal external costs. Generation costs may simply be evaluated as follows: G = C R + f + m E where G is the unit cost of energy ($/kWh) C is the initial capital cost ($) R is the annual charge rate (%) E is the annual energy yield (kWh/kW) f is the fuel cost per unit ($/kWh) m is the operation and maintenance cost per unit ($/kWh) The capital recovery factor varies according to the period over which the capital is to be recovered, n years, and the test discount rate, r, thus R = r / (1-(1+r) –n) The cost of electricity from a particular source of supply is therefore dependent upon the particular combination of value of these variables. Table (2) estimates the cost of kWh production from PV systems and Gas Turbine unit. To calculate the generation cost of the Gas Turbine, we assumed 25 years of unit’s lifetime, 8% discount rate, and the unit will operate at its rated power for 8 hours for 9 months a year (2,160 hrs). On the other hand, the generation cost of the PV cells was estimated using PV arrays with panels facing south (Tilt angle 25o), the yearly estimated generated energy was about 1964 kWh/m2/yr and the panel cost of $5/Wp. The calculations indicated that under the assumed rates of interest and capital cost the unit generation cost using PV cells is more than three folds the generation cost of the Gas Turbine. A sensitivity analysis was carried out by varying installation capital cost, and discount rate, Table (1). The results indicate that PV generation can be competitive to that from Gas Turbine when the capital cost drops to $2/Wp and at 8% interest level. The capital cost of PV generation is 30% higher than that of a gas turbine system for the specified parameters. This is contributed to the high installation cost of the PV system and the low conversion efficiency. Further sensitivity analysis of some parameters, namely, conversion efficiency and installation cost were carried out. The results are illustrated in table (2). The results suggested that a reduction of installation cost to 4 $/Wp the generation cost can be competitive to that of a gas turbine. Concluding that: 1. The mathematical modeling indicate that the optimum tilt angle for a plane facing south is 25oC in the State of Qatar, and the year average total daily radiation was a bout 5. 295 kWh/m2. day for 25oC compared to 5. 062 kWh/m2. day for a horizontal surface. 2. Using a photovoltaic system can be more expensive than buying power from the local utility, through the electrical outlet in your wall. However, it is dramatically less expensive than running a power line to a remote area that is currently with out service. 3. Finance rate and loan term are critical economic elements because photovoltaic is capital intensive. The formation of solar bank that makes capital readily available for solar energy systems and below market interest rates with more than 20 years terms should be pursued. 4. The basic economical evaluation of electricity generation in the State of Qatar suggests that photovoltaic technology is not far from being economically feasible. The advanced technology and wide market demand of photovoltaic systems result in improved conversion efficiency and lower unit cost. However, it should be emphasized that photovoltaic systems are clean source of energy and their positive impact on the environment should be taken into consideration. PV systems produce power intermittently because they work only when the sun is shining. More electricity is produced on a clear, sunny day with more intense sunlight and with a more direct light angle, as when the sun is perpendicular to the surface of the PV modules. Cloudy days can significantly reduce output, and of course no power is produced at night. PV systems work best during summer months when the sun is higher in the sky and the days are longer. Because of these variations, it is difficult for PV systems to furnish all the power you need, and are typically used in conjunction with utility-supplied electricity Renewable Resources In 1987, a United Nations commission chaired by Gro Harlem Brundtland, the then Norwegian Prime Minister, was formed to determine how to reconcile economic development with environmental protection. The term sustainable development was first used in the commissions report, Our Common Future. The report recognized that renewable energy sources are essential for sustainable development because they provide us with constant sources of energy with fewer effects on the environment. It also identified that globally, there was the need for more efficient use of energy and that the industrialized world, especially, had to improve its conservation efforts to lessen the impact of economic development on the environment. Renewable energy sources have been used for centuries. Until the mid-1800s, most of our energy came from two biomass sources, wood and peat. The location of many large plants and mills during the industrial era in Europe and North America was determined by the availability of fast flowing streams to generate power. It was not until the latter stages of the Industrial Revolution, the mid-1850s, and following the widespread incorporation of the steam-engine into factories, that fossil fuel use, mainly coal and oil, became commonplace. By incorporating fossil fuels into the manufacturing process instead of using water, industrialists were not limited to locations by rivers or streams. Plants could be located closer to sources of raw materials, markets or major shipping ports Renewable energy sources has been constantly being sought upon to replace dwindling fossil fuel reserves. The main question is where to look for these renewable energy sources. Some of them, like biomass, have already begun to contribute significantly to power generation in several developed nations like the US. Photvoltaic cells are economically viable in some locations and wind energy, though so far contributing only a tiny fraction, is rapidly expanding in the US and several European nations. The search for renewable energy sources points to photovoltaics, wind, solar thermal electricity, and biomass-produced electricity. These are highly prized due to the ease at which electricity can be transported and converted into othe forms, with the none or low polluting energy that these bestow and because of the potential that these sources may contribute in the near future. The earths atmosphere acts like glass in a greenhouse: sunlight can pass through, but the resulting heat cannot escape. Gases, such as carbon dioxide, are particularly effective at trapping heat. When burned, coal, oil and natural gas increase the amount of carbon dioxide in the atmosphere and the earths average temperature is raised. Renewable energy initiatives will result in reduced demand for fossil-fuelled electricity generation, thereby reducing greenhouse gas emissions These renewable sources once proven to be technically practical and economically feasible to provide required quantities of power, then there is no doubt that they would be greatly preferrable replace existing energy generation methods. An energy source can be classified as renewable provided the passed the following criterias: 1. there should be and indefinite supply or at least can be harnessed for an extreme length of time. 2. there would be a great reduction in the world pollution. Or at least the pollution released by the manufacturing and generation of power using these resources would not add up to current contributors to pollution. 3. and lastly, the must be able to provide energy self-sufficiency or at the very least provide a great reduction in the energy dependency.

Cultural Factors Considered By International Marketing Cultural Studies Essay

Cultural Factors Considered By International Marketing Cultural Studies Essay A good basic definition of concept of culture is that it is a set of traditional beliefs and values that are transmitted and shared in a given society. Culture is also the total way of life and thinking pattern that passed from generation to generation. Culture means many things to many people because the concept encompasses norms, values, customs, art and mores. Usunier and Lee(2009)suggests that this emphasis on world markets is often viewed as cross-border extensions of American marketing thought, ignoring people, languages, culture and advocating uniformity. According to Linton (1945), culture is the sum total of several attributes such as knowledge, attitudes, and habitual behavior patterns shared and transmitted by the members of a particular society. Edward Tylor(2002), suggests that culture is a complexity of factors including belief, knowledge, moral, law, custom, art and other capabilities acquired by man as a social being or the member of society. People in different cultures often have different ideas about the same subject. What is acceptable in one culture may not necessarily be acceptable in another. Therefore, a phenomena appearing in different cultures can be interpreted in different manners. Culture is shared and passed from generation to generation and is relatively stable and permanent. Old habits to die hard and a people tend to maintain its own heritage inspite of the fast changing world. Cultural pride and prejudice make many nations reject foreign ideas and imported products. But the reverse may also be true and a perception of greatness attributed to another culture may lead to eager acceptance of things reflecting the culture. For example, Japanese are proud of their culture and economic achievements and prefer to buy Japanese goods. On the other hand, the words Made in America marked on a product communicate quality and sophistication to people in many developing countries. The concept of what is right and wrong is based on culture. To he straight forward and honest are considered morally right in the US even though the feelings of the people are hurt. In Latin cultures, however, people avoid direct statements that would embarrass or would make others uncomfortable. Thus, even if a Latin businessman does not mean to do business, he would appear to have intention to do so. In an empirical study of French, American and Germany managers, substantial differences were noted on ethical issues. On an issue, that may benefit the firm at the expense of the environment, the French and German managers would more likely side with their employers and participate in what they perceive as a relatively minor infraction of environmental law. The American managers were less likely to approve a production run which would result in air pollution. Japanese are also very particular on the maintenance of environmental balance in their work ethics during the production of goods. Multinational corporations operate in different host countries around the world and in doing so have to deal with a wide variety of political, economical, geographical, technological and marketing situations. Moreover, each host country has its own society and culture which is different in many important ways from almost every other society or culture, although there are some commonalties. Though society and culture do not appear to be a part of marketing situations, yet they are actually the key elements in showing how marketing activities will be conducted, from what goods will be produced, and through what means they will be sold to establishing industrial and management patterns and determining the success or failure of local subsidiary or affiliate. Society and culture influence every aspect of overseas business of an MNC and successful MNC operations whether it is marketing, finance, production, or personnel has to be acutely aware of the predominant attitudes, feelings, and opinion in the local environment. Differences in values and attitudes between the management and the parent offices and expatriate managers at the subsidiary or affiliate level and local managers and employees can lead to serious operational and functional problems, which arise not because there are individual problems, but because of the important differences between societies and cultures. Society and culture often mould general attitudes towards fundamentals of life such as time, money, productivity and achievement all of which can differ widely across countries and lead to situations of differing expectations between the management in the home office and local employees of subsidiaries and affiliates. While some sociocultural differences are obvious, others are relatively subtle, though equally important. It is often difficult for an international manager to catch on these subtle differences if he or she has not lived or worked in cultures other than that of home country. MNCs have realised sometimes through costly blunders, that socio cultural factors are vital ingredients that make up overall business environment and that it is essential to appreciate these differences and how they influence the business before an attempt is made to set up an operation in a host country. There are too many human variables and different types of international marketing functions for an exhaustive discussion about culture. The main elements of culture are: Attitudes and beliefs Attitudes towards time Attitudes towards work and leisure Attitudes towards achievement Attitudes towards change Attitudes towards job. Attitudes and beliefs: In every society there are norms of behaviour based on attitudes, values and beliefs that constitute a part of its culture. The set of attitudes and beliefs of a culture will influence nearly-all aspects of human behaviour, providing guidelines and organisation to a society and its individuals. Identifying the attitudes and beliefs of a society and how if they differ from ones own culture will help the businessperson more easily understand the behaviour of people. Attitudes towards time: Everywhere in the world people use time tc communicate with each other. In international business, attitudes towards time are displayed in behaviour regarding punctuality, responses to business communication, responses to deadlines, and the amounts of time that are spent waiting in an outer office for an appointment. Attitudes towards work and leisure: Most people in the industrial society work many more hours than is necessary to satisfy their basic needs for food, clothing, and shelter. Their attitudes towards work and leisure are indicative of their views towards wealth and material gains. These attitudes affect the types, qualities and numbers of individuals who pursue entrepreneurial and management careers as well. Many industrial psychologists have conducted research in this area to determine what motivates people to work more than is necessary to provide for their basic needs. One explanation is the Protestant ethic which has its basis in the reformation, when work was viewed as a means of salvation and people preferred to transform productivity gains into additional output rather than additional leisure. Europeans and Americans are typically considered to adhere to this work ethic because they generally view work as a moral virtue and look unfavourably in the idle. Attitudes towards achievement: Cultural differences in the general attitudes towards work are also accompanied by significant national differences in achievement motivation. In some cultures, particularly those with high stratified and hierarchical societies, there is tendency to avoid personal responsibility and to work according to precise instructions received from supervisors that are followed by the latter. In many societies, especially where social security is low and jobs are prized, there is a tendency to avoid taking risks and little innovation in work or production processes. In such cultures, the prospects of higher achievement is not considered attractive enough to warrant taking avoidable risks. In many industrial societies, however, attitudes towards personal achievements are different. Personal responsibility and the ability to take risks for potential gain are considered valuable instruments in achieving higher goals. In fact, in many cultures the societal pressure on achievement -5 so intense that individuals are automatically driven towards attempting ambitious The types of attitudes among workers and managers often influence the types of management that has to be utilised to achieve corporate goals. In a culture that emphasises risk taking, greater responsibility, and individual decision making  « decentralised management system would be more appropriate. In a culture, where there is a tendency to put in only adequate amounts of work where achievement is not a valued attribute in a person, the company will follow a more centralisee management system with only limited delegation of decision-making authority. Attitudes towards change. The international manager must understand what aspects of a culture will resist change and how the areas of resistance differ among cultures, how the process of change takes place in different cultures and how long :: will take to implement change. There are two conflicting forces within a culture! regarding change. People attempt to protect and preserve a culture with an elaborate set of sanctions and laws on vogue against those who deviate from norms. Wher. differences are seen, they are perceived as, my method is right and other methods must be wrong. The contradictory force is one in which the public is aware that the cultural environment is continuously changing and that a culture must change in order to ensure its own continuity. In fact, in order to balance these attitudes, the manager must remember that a closer new idea can be related to a traditional one whed illustrating its relative advantage, the greater the acceptance of that new concept Usually, cultures with centuries old traditions that have remained closed to outside influences are more resistant to change than other cultures. The level of education in a society and the exposure of its people to the knowledge and experience of other cultures is an extremely important determinant of its attitude towards change. Attitude towards job. The type of job that is considered most desirable or prestigious varies greatly according to different cultures. Thus, while the medicinal and legal professions are considered extremely prestigious in the United States, civil service is considered most prestigious occupation in several developing countries including India. References Morgan, A., 1998, Copycat TV: Globalisation, program formats and cultural identity, Luton, England, University of Luton Press. Tylor Edward B., 2002, Primitive Culture in: Lambek Michael (ed.): A Reader in the Anthropology of Religion, Malden/Ma./USA Oxford/UK, pp. 21-34 Linton, Ralph 1945, The cultural background of personality. New York, Appleton-Century Philip R. Cateora, John L. Graham, 2007, International Marketing, 13th Edition, McGraw-Hills. Jean-Claude Usunier and Julie Anne Lee, 2009, Marketing Across Cultures, 5th edition, Prentice Hall. Latha Nair, 1999, Personnel Management, Himalaya publishing house. Dr. K. Aswathappa, Personnel Management and Industrial Relations, Himalaya publishing house. Svend Hollenses, A global Marketing decision oriented Approach, 3rd Edition. Stonehouse, G, Campbell, D, Hamill, J, Purdie, T, 2004, Global and transnationl business, 2nd Edition, John wiley and sons, west Sussex. Palmer, A, 2007, Introduction to marketing, Oxford university press, Newdelhi. (b) Cateora and Ghauri (2006) state that for the inexperienced marketer, the similar but different aspect of culture creates an illusion of similarity that usually does not exist. What do they mean by this statement? Explain and give specific examples to illustrate the points made. (50% of marks for this assignment) Consumption patterns, living styles and the priority of needs of the human beings play important roles on the culture. This in other words means that culture prescribes the manner in which people satisfy their desires/needs. Consumption of certain food gives a good example of how it influences the culture. Americans, Europeans and Arabians consume beef whereas Thais, Chinese and the majority of Indians do not consume beef at all believing that it is improper to eat cattle that work on farms, thus helping to provide food such as rice and vegetables. In Japan, the per capita annual consumption of beef has increased to 11 Lbs. which is very small compared to the 100 Lbs. per capita consumed in the US and Argentina. The Japanese eat uncooked sea food and the Iraqis eat dried, salted locust as snacks while drinking. The French eat snails. Americans and Europeans use honey (Bee expectorate or bee spit) and blue cheese or Roquefort salad dressing which is made with strong cheese with bluish mould. It has been seen that no society has a monopoly on their unusual eating habits when comparisons are made among various societies. Food preparation methods are also dictated by cultural preferences. Asian consumer prefers chicken broiled or boiled rather than fried. Consequently, the Chinese found that the Americans fried chicken style is foreign and distasteful. The culture not only dictates the type of food to be consumed but also it affects what should not be purchased. For example, Muslims do not purchase chicken unless it is hallaled and like Jews no consumption of pork is allowed. They also do not use alcoholic beverages, a habit which is shared by some of the Protestants. Moussy a non-alcoholic beer from Switzerland is a product that was manufactured for the consumption of Muslims being a non-alcoholic beverage. Life-style of individuals in every country has its own cultural influence. For example, in India majority of male and female wear dhoties/saris/lungis whereas in Pakistan they wear Salwar Kameez. In the western countries the dress code for men is suit with headgear as hat and for ladies it is skirt and blouse whereas in India the headgear is mostly turban. This life-style basically depends upon the weather conditions of the country. The priority of needs from one country to another also varies. For example, the westerners are effluent and buy their imported clothes in large quantities. In the developing countries the needs of individuals are meager. Hence most of the men and women are dressed in the minimum. Beside consumption habits, the thinking processes are also affected by culture. It has been observed that when the individuals travel overseas, it is virtually impossible for a person to observe foreign cultures without making reference, perhaps unconsciously, back to personal cultural values. This phenomenon is known as self reliance criterion (SRC). It is because of the effect of SRC the individual remains bound by his or her cultural assumptions. It is, therefore, necessary for the foreign traveller to recognise how the perception of overseas events can be distorted by the effect of SRC. The best example of SRC is the behaviour of the individuals treating their animals which reflects their thinking processes. Americans and Europeans usually treat dogs and cats as family members addressing the animals affectionately and even allowing them to sleep on their beds. Arabs view dogs as filthy animals. Some in the Far Eas: like Korea and Thailand, go as far as cooking and eating dogs. Hindus in contrast revere cows and are surprised as to how the westerners and the Muslims eat beef, that also in large quantity. The efforts of the international marketing man should be to reduce SRC effect on the individuals. The presence of SRC, if not controlled, can invalidate the results of the research study. Lee suggests a multi-step approach to remove the undue influence of SRC. Firstly the problem should be defined in terms of the culture of the researchers home country. Secondly, the same problem is defined again except that it is defined in terms of the cultural norms of the host country. Thirdly, a comparison is made of two cultural composites. Any difference between the composites indicates the existence of SRC. Although African, Arab and Asian business methods have endured for centuries, most American firms react to those methods in ethnocentric terms and prefer to conduct business along the familiar western lines. Project Heads launching a venture in less developed countries should consider the following guidelines: Resist the tendency to conduct business immediately on landing. Resist the tendency to conduct business at all times. Consider doing favour as a business tool to generate allies. Contact, cultivate and conduct field work among at least one sample clientele to serve as an initial testing centre for the firms product. Introduce the product line into the sample group by local forms of cause related marketing. Extend product acceptance beyond the sample clientele into related segments. An awareness of the influence of the SRCs is valuable because such awareness can help a manager to prevent a transfer of personal cultural norms on a wholesale basis to an overseas market. This awareness should make the manager more customer oriented and the marketing strategy thus developed will reflect through market needs. A country may be classified as a high context culture or low context culture. The context of culture is either high or low in terms of in depth background information. North America and North Europe are examples of low context cultures. In these types of societies messages are explicit and clear in the sense that actual words are used to convey the main part of information in communication. What is important is what is said, not how it is said and not the environment within which it is said. Japan, France, Spain, Italy, some countries of Asia like India, Africa (South Africa) and the Middle East Arabian nations are High-Context Cultures. In such countries the communication may be indirect and the expressive manner in which the message is delivered becomes critical because the verbal part does not carry most of the information. The context of communication is high because it includes a great deal of additional information such as message senders values, position, background and associations in the society. Ones individual environment such as physical setting and social circumstances determine what one says and how it is interpreted by others. This type of communication emphasises ones character and words as determinants of ones integrity making it possible for business persons to come to terms without detailed legal work. A common advertising method used by American advertisers is to present a TV commercial as an illustrated lecture. In this low context method, a product is discussed in the absence of its natural setting. Such a message is not easily understood in high context cultures because of the omission of the essential contextual details. In one of the studies, carried out by researchers they tested six European commercials on five cultural groups ranging from the high context Asian group to the low context Swedish group and the evidence supported Wells proposition. Compared to a low context culture, high context cultures perceive non-verbal communication elements as being more informative.

Compatibility Of Divine Foreknowledge With Human Freedom Philosophy Essay

Compatibility Of Divine Foreknowledge With Human Freedom Philosophy Essay In this essay I will discuss Leibnizs position that divine foreknowledge of all events is compatible with human freedom and why it is that I agree with his position. To do so, I will first discuss Leibnizs position. Next, I will discuss what divine foreknowledge is and what human freedom is, so that it will be much easier to understand Leibnizs position. Following these descriptions I will provide Leibnizs conclusion and then show that his position is in fact correct due to the lack of contradiction between the two concepts that would have made divine foreknowledge and human freedom incompatible. Leibniz believes that divine foreknowledge, meaning Gods prior knowledge of every action, occurrence or event, is compatible with human freedom (Schlà ¶sser) which means that there is no contradiction between the two and that they go hand-in-hand. This mention of compatibility shows that Leibniz believes that divine foreknowledge works with human freedom and does not disrupt freedom in any manner. Before venturing on with Leibnizs position, it is best to first describe the two concepts in which Leibniz is considering which is Divine foreknowledge and human freedom. Divine foreknowledge is the knowledge of the world and everything within it which is preordained by a divine figure, which in this case is God (Schlà ¶sser). This concept of divine foreknowledge assumes that everything in the past and things in the future, that have not occurred yet, have already been seen and put in place by God. The concept of divine foreknowledge can be related to a priori truths (Leibniz 31) because the ability to know and see everything prior to its occurrence leaves no room for truth without all possible facts. What I mean by this is that, since God has created all and has the ability to see everything in that past, present and future, it is impossible for the truth/knowledge to be without factual backgrounds and is therefore a priori. Divine foreknowledge also follows the principle of contradiction which relates to all truths that concern possible or essences and the impossibility of a thing or its necessity (Leibniz 19). There is quite a difference in terms of human knowledge as human knowledge contains both a priori and non a priori truths. The reason for this is because humans do not possess the unlimited knowledge as divine foreknowledge does. This means that humans are incapable of knowing everything in the past, present and future which deems their knowledge very limited and cannot possess the ability to know everything with complete factual backing. There are truths in human knowledge which are a priori such as there is no effect without a cause (Leibniz 31) but there are also non a priori truths that humans are subject to such as, a hundred people on Earth, weigh the same as a hundred people in an unknown universe, which cannot be proved because this unknown universe has no factual backing to it to prove this claim, yet the truth/claim still exists. A good example of divine foreknowledge, given by Leibniz, is Julius Caesar and his rise to dictator and emperor of Rome (45). Leibniz writes that it is within Caesars notion, or natu re, as predetermined by God, that Caesar would overthrow the Roman Empire (45). Leibniz does not say that to do the opposite (i.e. not overthrow the Empire) would be impossible but seeing that it has been predetermined it is impossible (45). That may seem confusing, but what Leibniz means is that Caesar always had the choice to do the opposite but chose to overthrow the Empire, and the foreknowledge of this event is irrelevant in the choice that was made. Leibniz states that to find a connection between the subject, Caesar, and the predicate, his successful undertaking, he would in fact be showing that Caesars future dictatorship is grounded in his notion or nature (45), which is a predetermination of God but still is founded on free will as the decision to [cross] the Rubicon and [win] rather than [lose] at Pharsalus was based purely on reason and not cause (45). With this example, Leibniz is able to show not only how divine foreknowledge works, but also its connection and compatib ility with human freedom. Human freedom, as described by Leibniz, is any action that is committed purely out of personal views, beliefs, goals, et cetera (Schlà ¶sser). This action cannot be influenced by any other source outside of ones own self, else the action cannot be deemed as free (Schlà ¶sser). Also, it is merely reasons that guide us rather than the cause, which means we do things based primarily on a reason to do so instead of committing actions consistently for the same cause as everyone else, which is to say we were being controlled at every moment. Human freedom is different, in a sense, than that of divine freedom. Human freedom is limited purely by the person committing the action and his/her morals, beliefs and values (Schlà ¶sser) that back the action, while divine freedom is somewhat similar in its limits where the actions are limited purely by doing the right thing and not the wrong. Overall both freedoms are similar in that they are limited by some form of morality or belief, one of the only differences being that there is still the free will to choose ones action (Schlà ¶sser) over preordained divine freedom which is already set in stone. Therefore if free will is based primarily on ones own self and nothing else, then it is safe to assume, still, that Gods foreknowledge of these events is compatible. Leibniz has shown what it means to have free will and what divine foreknowledge is, as I have discussed. What must now be discussed is what makes divine knowledge so compatible with human freedom? At first, it seems as if God already knows whats going to happen before it even occurs, but then it couldnt be possible for humans to have free will as their every action had been preordained. However, this is not the case. It may be the case that God does has foreknowledge of every event, even prior to its creation, but what allows for human freedom to exist is that it is the person who commits the action at that point and time (Schlà ¶sser). God may have pre-existing knowledge of what you are going to do, but God does not control your actions every step of the way. It is still the person who makes the choice based on their own reason (Schlà ¶sser). Unlike a machine (Schlà ¶sser), humans have the option to choose a different path regardless of divine foreknowledge. This can be seen in t he world everyday with overbearing amounts of sin. These sins were also predetermined but not prevented by God (Schlà ¶sser), because if all foreseen sinful acts were prevented than there would be no existing human freedom and therefore divine foreknowledge would, instead, not be compatible with human freedom as the two concepts would create a contradiction. That being said, since there is sin in the world, it means that God has allowed for humans to make their own decisions based on their own reasons, beliefs, nature, et cetera, which means that human freedom does exist, even when the event at hand had been foreseen by God. Therefore, Leibniz can conclude that divine foreknowledge is in fact compatible with human freedom. I am in complete agreement with Leibnizs position on human freedom and divine foreknowledge. Leibnizs concept of divine foreknowledge not interfering with human freedom appears to be sound in its explanation. There would be more issues concerning freedom if divine foreknowledge had any effect directly on human decision in real-time. This means that as the decision to act is being made, a divine being is there to bend our choices to the right decision (i.e. a puppeteer). If this is the case then there would not be any free will in existence because, as Leibniz notes in his explanation of free will, our will is being governed by some external force (Schlà ¶sser). Therefore the action committed is not a free choice but a controlled one. I believe Leibniz is correct in saying that divine foreknowledge is not a problem for human freedom because this knowledge of all events is predetermined long before the existence of such events and therefore has no direct effect on human freedom to cho ose between the right and wrong decision. There is another way to look at this scenario that may better solidify Leibnizs claims (other than the Caesar example). To stray away from divinity for a moment, lets say that there is an ordinary man who can see into the future. This man has a vision that a teenage thug is going to steal a purse from a store in downtown Toronto. Moments later a teenager walks into a purse store. At this very moment, the teenager has the choice to do the right thing and rather purchase a purse or leave the store empty handed. The other option is to do the wrong thing and steal the purse. This choice is what determines the existence of free will. The teenager chooses to steal the purse for her own reasoning and leaves the store. I will now pose the following question: is the mans ability to foresee this theft a disruption of the existence of this teenagers freedom? The answer is simply, no. This vision, or foreknowledge, is simply an ability to foresee other humans making their choices to do good and bad things and not the ability to command or change a persons mind to choose right over wrong, as this would disrupt human freedom. This example provides a well-rounded and more up to date explanation of Leibnizs claim. The only difference would be that the man with visions could choose to stop the person from doing what is wrong, which is a little different from God, who has known about all events prior to their creation but will not interfere with free will. To make the example a little more satisfying, we can say that the time between the vision and the action is mere milliseconds, so that no disruption will be provided to intervene with free will. All-in-all the mere fact that God allows for sin to occur and that he is all knowing shows that this divine figure does not wish to intervene in human free will and change the outcomes. Just like the man with the visions, God has foreseen a humans every action but what God sees is free will in action as the person chooses to commit right and wrong actions. By no means does foreseeing an event occur, grant that that something or someone is being controlled. If it were the case that foreseen actions were tampered with, then human freedom would not exist. The same can be said for the man with visions. If the man decided to assist those people he foresaw in charging their ways to the right decision (not taking into account the very minute time gap put in place between vision and action) he would also be interfering with another persons free will, but at the same time is making use of his freedom of choice in order to help this person. This means that the man must implement his free will in order to do the right thing (although it can be argued whether interfering with another persons free will can in fact be considered the right thing to do). Therefore this example shows that the mere foreknowledge of an event does not mean that it contradicts free will, which means that div ine foreknowledge is in fact compatible with human freedom and also that Leibniz is correct. In conclusion, I have discussed Leibnizs position, that divine foreknowledge of all events is compatible with human freedom, by providing an explanation of what divine foreknowledge is and what it means to have free will in accordance with Leibniz. I then grouped the two concepts and explained why Leibniz thought they were compatible and then provided Leibnizs example of Julius Caesar and divine foreknowledge to show this. I then concluded this essay with why I agree with Leibnizs position and provided an example of my own, regarding a man who has visions of the future, to provide a better understanding of Leibnizs position without the use of divine characters. After careful consideration of Leibnizs position and reasoning I have concluded that Leibniz is correct in his position and divine foreknowledge poses no contradiction to human freedom and is indeed compatible with it.

The Known Unknown :: Poem, Poetry

Man alone wonders at man's achievements, which are nothing. Had neither a wish we in this world to be born Nor we wish to be dead, as we wish to live on If our birth as well as death be not of our wish Why in life a wish and for each a skirmish? Crying arrived you oh! Man, people smiling around So smiling part from earth, crying people sound Mirth and merriment to your people your birth was Grieve them let your end, your life a noble cause mystery, death, unlocks the Creator of universe Still humans opine His very existence diverse Camel unseen, passed we claim, its footprints in the sand The universe does for the imprints of God's existence stand Man's knowledge is so wide, his wisdom so narrow Atom to space conquered but never tomorrow For a great tomorrow, live to eliminate human sorrow The clouds shed to give us a greener tomorrow

Alan Patons Cry the Beloved Country Essay -- Alan Paton Cry Beloved C

Alan Paton's Cry the Beloved Country The book I have chosen to write about is Cry the Beloved Country. This book is about ambiguity and reconciliation. The main character in the story Stephan Kumalo has to deal his the struggle of his family, and trying to keep them together. The first few chapters of this book are place in a small town called Ndotshenti. But the action in this takes place in the largest city on South Africa, Johannesburg. Stephan Kumalo finds out there can be day light even when nothing in you life is going right. The area of Ndoshenti is known as the â€Å"Velds†, which in Zulu means the green grassland. The rural country is what describes Ndotshenti best; on the other side of the town lies the European part of Ndotshenti. This is Ndoshenti where blacks are not allowed to go. Primarily because apartheid, which means total separation between blacks and whites. Stephan Kumalo is the minister in the small town. Stephan Kumalo helps those in need of help. Also find out very early, he is in need of help too. His son Absalom decides to leave home, because he does not like his father’s new wife. He goes with his friends Johannesburg to work the gold mines. However his son is not the only person causing stress on Stephan Kumalo, because with in a few days of his son leaving, he receives a letter pertaining to his sister. She very sick, but the man writing the letter says not physically, but mentally. At this point Kumalo is befu...