Wesfarmers : Financial Analysis

Wesfarmers : Financial Analysis Wesfarmers main focus is very simple but an effective objective of providing a satisfactory return to its shareholders. The beauty of this objective is that it is measurable, and they seek to achieve a return on equity, which ranks Wesfarmers in the top 20 percent of Australia’s listed companies and able to manage the portfolio of businesses which make up the group with strong financial focus (Australian Securities Exchange,2008). The ongoing success of Wesfarmers is based on shareholder focus, financial disciplines and goodwill and hence it has achieved significant financial growth in the preceding 6 years. It is a â€Å" diversified Australian group, provides home improvement products, building supplies, coal mining, gas, industrial and safety products, food, groceries, apparel, office products and insurance (Business Review, 2008). Wesfarmers key strategy is to grow through acquisitions. In line with the strategy, Wesfarmers made several acquisitions over the years which enhanced their financial position and stability. Over the years the group acquired Linde Gas, which is a major provider of gas to the Australian Industrial market. In 2003 Wesfarmers finalized the acquisition of Lumley Australian and New Zealand insurance business which helped diversify Wesfarmers business operations and finally in 2007, Wesfarmers acquired the Coles group (Greenhalgh, 2008). Table 1: Major Acquisitions BusinessPriceEBIT ($m)EV/EBIT multiple OAMPS7255812. 5 Linde Gas5007313. 5 Coles Group19,3001,15016. 8 Source: www. wesfarmers. com. au The most common form of financial analysis is undertaken using ratios, using the data from financial statements and other related sources. By analyzing and calculating the figures obtained from the Wesfarmers financial statements of the preceding 5-6 years we can develop an insight to the success and growth of the company (accounting text book). Over the years Wesfarmers has grown significantly both physically and financially. In 2003 the group achieved a result with net profits reaching $538 million, with an after tax net profit of 16 percent. Earnings per share before goodwill amortization were up by nine percent and shareholders received an increase in dividends by up to 14 percent. The total operating revenue increased five percent a revenue of 7. 8 billion when compared to the previous year, and a 20 percent increase in net operating cash flow due to a strong focus on working capital and preceding years higher profit (Wesfarmers 2003). Over the last 4 years Wesfarmers net revenues kept rising dramatically from 7. 54 billion in 2005 to approximately 8. 71 billion in 2007. With the acquisition of Coles retail assets in 2007, the scale of Wesfarmers retail operations increased extensively with operations from over 3,200 stores throughout Australia and total sales of $39. billion in the year 2007. This substantially demonstrates the significant buying power with suppliers manufactures and obtains benefits associated with dedicated networks and shareholder goodwill (Wesfarmers, 2007). There was a significant rise in net profit margin 7. 65% in 2004 to 9. 85 % in 2006. However 2008 being a difficult year due to the global financial crisis there has been a drop in ne t profit margin. There has always been a constant increase in the Return on asset from 8. 60% in 2004 to 12. 2 % in 2006 and also large increase on the return on equity a tremendous increase to 26. 15% in 2006. This demonstrates the overall growth and performance over the years (FinAnalysis,2009). As organizations grow and expand successfully they are also faced with a lot of challenges. Given the recent acquisition of Coles, Wesfarmers financial policies and liquidity position has changed significantly. Until 2008 Wesfarmers has a strong control over their assets, and the ability of the company to meet short term obligations were high. However off late their liquidity position is considered to be weak, considering the significant level of short term debt they have acquired, although a portion of it was paid off by the end of 2008, there is still a segment of it which is yet to be completely cleared off. However given the global financial and economic crisis, Financial experts have predicted that Wesfarmers debt levels are going to rise in the short to medium term of 2009 (Greenhalgh, 2008). This shows the ability of Wesfarmers to purchase assets using borrowed funds and thus lever up their total assets. The short to medium term debt will have to be refinanced in the coming months to assist it reducing any further risks. Wesfarmers services a diverse customer base reflecting the broad range of industries in which the company operates, given this diverse operations of groups they have a large number of competitors including MITRE 10, BHP, RIO and Orica, Caltex etc ( FinAnalysis, 2009). However the major one of them all being Woolworths. Woolworths has established a clear lead in sales growth in recent years, and is estimated to hold approximately 27% of the market with Coles falling down to 23%. Woolworths has clearly demonstrated a lead in terms of supermarket margins and supply chain automation resulting in heavy price discounting, and they have reported a solid growth in margins from 4. 7% in 2005 to 6. 2% in 2007(Woolworths, 2008). As Wesfarmers operate in various other industries and segments they have demonstrated a strong position in the market. General merchandising and apparel store Target has performed strongly compared to peers, reporting margins growing from 2. 1% in 2002 to 8. 8% in 2007. However both Coles and Woolworths operate in a duopolistic market for large scale retailers, with other competitors finding it difficult to compete with these two massive players. Stakeholder analysis: â€Å"The Board of Wesfarmers Limited is a strong advocate of good corporate governance and is committed to providing a satisfactory return to its shareholders and fulfilling its corporate governance obligations and responsibilities in the best interest of the company and its stakeholders complying with the ASX corporate Governance Council’s Corporate Governance Principles and Recommendations† (Wesfarmers, 2008). The stakeholders include employees, customers, suppliers and other contractors, government agencies, local communities, and also shareholders in the parent company. The company strives to expand and improve its sustainability efforts into the future by enhancing the physical environment in which they operate, provide a safe working environment for employees, customers and other stakeholders, treating all stakeholders with respect, investing in the communities for development and better standards of living and most of all, behaving in a legal and ethical manner (Hill et,al. 007, p. 34 & Wesfarmers, 2008). However there were a few discrepancies and criticism in the early 1990’s, regarding environment and longstanding pollutions issue from sites used for fertilizer production by Wesfarmers. The government and the public were concerned about leaching of heavy metals into the water table. Criticism also leveled at the company over its adequate stakeholder involvement in the issue ( Sustainable Asset Management, 2003). It was also known that a large number of stakeholder of the parent company were now pleased and supportive of the acquisition of Coles group. However eventually it was understood that shareholders supported the proposal and realized it was an opportunity for future growth, increased market share, and higher share prices and returns (Bolt, 2007). Over the years Wesfarmers made strong efforts and changes to advocate the best practice in Corporate Governance by fulfilling its obligations and responsibilities. The board approved new terms of reference for the audit and compliance committee. The committee also has the responsibility to assess the effectiveness of the group’s compliance reporting programe to cover areas such as crisis management, legal liability, risk review, insurance, financial issues, environmental health and safely management (Wesfarmers, 2007). Wesfarmers also revised their disclosure process and policy and improved timely disclosure of relevant information to the market, this includes the conduct of investor and analyst briefing and communication with the media. Stakeholders are involved in reviews and stakeholders surveys to tackle key areas such as supply chain, OH&S, resource consumption, product stewardship, feedbacks and complaints etc to comment on the company’s performance. The Australian Standards Technical Committee, Australian Water and other authorities have concluded that Wesfarmers has involved in ensuring environmental responsibility and safety (Wesfarmers, 2007). Succession planning is another issue which is constantly under review within the group. Together with the mergers and acquisitions taken place over the years, Wesfarmers board ensured that these transitions were a smooth one, keeping abreast with the history and culture of the company. This evolution had diversified and strengthened the company together with the experience and knowledge and skill of highly committed directors (Wesfarmers, 2007). References Wesfarmers, 2008, ‘Corporate Governance’, retrieved on 27 December 2008, . Bolt, C, 2007, ‘Wesfarmers makes improved offer for coles, The West Australian, retrieved on 27 December 2008, . Wesfarmers, 2008, ‘Submission on the federal government’s Green paper for a proposed carbon pollution reduction scheme’, retrieved on 27 December 2008, . Sustainable Asset Management, 2003, ‘Sustainability Leaders Australia Fund’, retrieved on 27 December 2008, . Wesfarmers, 2007, ‘Annual General Meeting – Chairman’s Address’, retrieved 29 December 2008, .

The Vampire Diaries: The Awakening Chapter Nine

She was not the reincarnation of Katherine. Driving back to the boarding house in the faint lavender hush before dawn, Stefan thought about that. He'd said as much to her, and it was true, but he was only now realizing how long he'd been working toward that conclusion. He'd been aware of Elena's every breath and move for weeks, and he'd catalogued every difference. Her hair was a shade or two paler than Katherine's, and her eyebrows and lashes were darker. Katherine's had been almost silvery. And she was taller than Katherine by a good handspan. She moved with greater freedom, too; the girls of this age were more comfortable with their bodies. Even her eyes, those eyes that had transfixed him with the shock of recognition that first day, were not really the same. Katherine's eyes had usually been wide with childlike wonder, or else cast down as was proper for a young girl of the late fifteenth century. But Elena's eyes met you straight on, looked at you steadily and without flinching. And sometimes they narrowed with determination or challenge in a way Katherine's never had. In grace and beauty and sheer fascination, they were alike. But where Katherine had been a white kitten, Elena was a snow-white tigress. As he drove past the silhouettes of maple trees, Stefan cringed from the memory that sprang up suddenly. He would not think about that, he would not let himself†¦ but the images were already unreeling before him. It was as if the journal had fallen open and he could do no more than stare helplessly at the page while the story played itself out in his mind. White, Katherine had been wearing white that day. A new white gown of Venetian silk with slashed sleeves to show the fine linen chemise underneath. She had a necklace of gold and pearls about her neck and tiny pearl drop earrings in her ears. She had been so delighted with the new dress her father had commissioned especially for her. She had pirouetted in front of Stefan, lifting the full, floor-length skirt in one small hand to show the yellow brocaded underskirt beneath†¦ â€Å"You see, it is even embroidered with my initials. Papa had that done. Mein lieber Papa †¦Ã¢â‚¬  Her voice trailed off, and she stopped twirling, one hand slowly settling to her side. â€Å"But what is wrong, Stefan? You are not smiling.† He could not even try. The sight of her there, white and gold like some ethereal vision, was a physical pain to him. If he lost her, he did not know how he could live. His fingers closed convulsively around the cool engraved metal. â€Å"Katherine, how can I smile, how can I be happy when†¦Ã¢â‚¬  â€Å"When?† â€Å"When I see how you look at Damon.† There, it was said. He continued, painfully. â€Å"Before he came home, you and I were together every day. My father and yours were pleased, and spoke of marriage plans. But now the days grow shorter, summer is almost gone-and you spend as much time with Damon as you do with me. The only reason Father allows him to stay here is that you asked it. Butwhy did you ask it, Katherine? I thought you cared for me.† Her blue eyes were dismayed. â€Å"I do care for you, Stefan. Oh, you know I do!† â€Å"Then why intercede for Damon with my father? If not for you, he'd have thrown Damon out into the street†¦Ã¢â‚¬  â€Å"Which I'm sure would have pleasedyou , little brother.† The voice at the door was smooth and arrogant, but when Stefan turned he saw that Damon's eyes were smoldering. â€Å"Oh, no, that isn't true,† said Katherine. â€Å"Stefan would never wish to see you hurt.† Damon's lip quirked, and he threw Stefan a wry glance as he moved to Katherine's side. â€Å"Perhaps not,† he said to her, his voice softening slightly. â€Å"But my brother is right about one thing at least. The days grow shorter, and soon your father will be leaving Florence. And he will take you with him-unless you have a reason to stay.† Unless you have a husband to stay with . The words were unspoken, but they all heard them. The baron was too fond of his daughter to force her to marry against her will. In the end it would have to be Katherine's decision. Katherine's choice. Now that the subject was broached, Stefan could not keep silent. â€Å"Katherine knows she must leave her father sometime soon-† he began, flaunting his secret knowledge, but his brother interrupted. â€Å"Ah, yes, before the old man grows suspicious,† Damon said casually. â€Å"Even the most doting of fathers must start to wonder when his daughter comes forth only at night.† Anger and hurt swept through Stefan. It was true, then; Damon knew. Katherine had shared her secret with his brother. â€Å"Why did you tell him, Katherine? Why? What can you see in him: a man who cares for nothing but his own pleasure? How can he make you happy when he thinks only of himself?† â€Å"And how can this boy make you happy when he knows nothing of the world?† Damon interposed, his voice razor-sharp with contempt. â€Å"How will he protect you when he has never faced reality? He has spent his life among books and paintings; let him stay there.† Katherine was shaking her head in distress, her jewel-blue eyes misted with tears. â€Å"Neither of you understand,† she said. â€Å"You are thinking that I can marry and settle here like any other lady of Florence. But I cannot be like other ladies. How could I keep a household of servants who will watch my every move? How could I live in one place where the people will see that the years do not touch me? There will never be a normal life for me.† She drew a deep breath and looked at them each in turn. â€Å"Who chooses to be my husband must give up the life of sunlight,† she whispered. â€Å"He must choose to live under the moon and in the hours of darkness.† â€Å"Then you must choose someone who is not afraid of shadows,† Damon said, and Stefan was surprised by the intensity of his voice. He had never heard Damon speak so earnestly or with so little affectation. â€Å"Katherine, look at my brother: will he be able to renounce the sunlight? He is too attached to ordinary things: his friends, his family, his duty to Florence. The darkness would destroy him.† â€Å"Liar!† cried Stefan. He was seething now. â€Å"I am as strong as you are,brother , and I fear nothing in the shadows or the sunlight either. And I love Katherine more than friends or family-† â€Å"-or your duty? Do you love her enough to give that up as well?† â€Å"Yes,† Stefan said defiantly. â€Å"Enough to give up everything.† Damon gave one of his sudden, disturbing smiles. Then he turned back to Katherine. â€Å"It would seem,† he said, â€Å"that the choice is yours alone. You have two suitors for your hand; will you take one of us or neither?† Katherine slowly bowed her golden head. Then she lifted wet blue eyes to both of them. â€Å"Give me until Sunday to think. And in the meantime, do not press me with questions.† Stefan nodded reluctantly. Damon said, â€Å"And on Sunday?† â€Å"Sunday evening at twilight I will make my choice.† Twilight†¦ the violet deep darkness of twilight†¦ The velvet hues faded around Stefan, and he came to himself. It was not dusk, but dawn, that stained the sky around him. Lost in his thoughts, he had driven up to the edge of the woods. To the northwest he could see Wickery Bridge and the graveyard. New memory set his pulse pounding. He had told Damon he was willing to give up everything for Katherine. And that was just what he had done. He had renounced all claim to the sunlight, and had become a creature of darkness for her. A hunter doomed to be forever hunted himself, a thief who had to steal life to fill his own veins. And perhaps a murderer. No, they had said the girl Vickie would not die. But his next victim might. The worst thing about this last attack was that he remembered nothing of it. He remembered the weakness, the overpowering need, and he remembered staggering through the church door, but nothing after. He'd come to his senses outside with Elena's scream echoing in his ears-and he had raced to her without stopping to think about what might have happened. Elena†¦ For a moment he felt a rush of pure joy and awe, forgetting everything else. Elena, warm as sunlight, soft as morning, but with a core of steel that could not be broken. She was like fire burning in ice, like the keen edge of a silver dagger. But did he have the right to love her? His very feeling for her put her in danger. What if the next time the need took him Elena was the nearest living human, the nearest vessel filled with warm, renewing blood? I will die before touching her, he thought, making a vow of it. Before I broach her veins, I will die of thirst. And I swear she will never know ray secret. She will never have to give up the sunlight because of me. Behind him, the sky was lightening. But before he left, he sent out one probing thought, with all the force of his pain behind it, seeking for some other Power that might be near. Searching for some other solution to what had happened in the church. But there was nothing, no hint of an answer. The graveyard mocked him with silence. Elena woke with the sun shining in her window. She felt, at once, as if she'd just recovered from a long bout of the flu, and as if it were Christmas morning. Her thoughts jumbled together as she sat up. Oh. She hurt all over. But she and Stefan-that made everything right. That drunken slob Tyler†¦ But Tyler didn't matter anymore. Nothing mattered except that Stefan loved her. She went downstairs in her nightgown, realizing from the light slanting in the windows that she must have slept in very late. Aunt Judith and Margaret were in the living room. â€Å"Good morning, Aunt Judith.† She gave her surprised aunt a long, hard hug. â€Å"And good morning, pumpkin.† She swept Margaret off her feet and waltzed around the room with her. â€Å"And-oh! Good morning, Robert.† A little embarrassed at her exuberance and her state of undress, she put Margaret down and hurried into the kitchen. Aunt Judith came in. Though there were dark circles under her eyes, she was smiling. â€Å"You seem in good spirits this morning.† â€Å"Oh, I am.† Elena gave her another hug, to apologize for the dark circles. â€Å"You know we have to go back to the sheriff's to talk to them about Tyler.† â€Å"Yes.† Elena got juice out of the refrigerator and poured herself a glass. â€Å"But can I go over to Vickie Bennett's house first? I know she must be upset, especially since it sounds like not everybody believes her.† â€Å"Do you believe her, Elena?† â€Å"Yes,† she said slowly, â€Å"I do believe her. And, Aunt Judith,† she added, coming to a decision, â€Å"something happened to me in the church, too. I thought-† â€Å"Elena! Bonnie and Meredith are here to see you.† Robert's voice sounded from the hallway. The mood of confidence was broken. â€Å"Oh†¦ send them in,† Elena called, and took a sip of orange juice. â€Å"I'll tell you about it later,† she promised Aunt Judith, as footsteps approached the kitchen. Bonnie and Meredith stopped in the doorway, standing with unaccustomed formality. Elena herself felt awkward, and waited until her aunt left the room again to speak. Then she cleared her throat, her eyes fixed on a worn tile in the linoleum. She sneaked a quick glance up and saw that both Bonnie and Meredith were staring at that same tile. She burst into laughter, and at the sound they both looked up. â€Å"I'm too happy to even be defensive,† Elena said, holding out her arms to them. â€Å"And I know I ought to be sorry about what I said, and Iam sorry, but I just can't be all pathetic about it. I was terrible and I deserve to be executed, and now can we just pretend it never happened?† â€Å"Youought to be sorry, running off on us like that,† Bonnie scolded as the three of them joined in a tangled embrace. â€Å"And with Tyler Smallwood, of all people,† said Meredith. â€Å"Well, I learned my lesson on that score,† Elena said, and for a moment her mood darkened. Then Bonnie trilled laughter. â€Å"And you scored the big one yourself-Stefan Salvatore! Talk about dramatic entrances. When you came in the door with him, I thought I was hallucinating. How did youdo it?† â€Å"I didn't. He just showed up, like the cavalry in one of those old movies.† â€Å"Defending your honor,† said Bonnie. â€Å"What could be more thrilling?† â€Å"I can think of one or two things,† said Meredith. â€Å"But then, maybe Elena's got those covered, too.† â€Å"I'll tell you all about it,† Elena said, releasing them and stepping back. â€Å"But first will you come over to Vickie's house with me? I want to talk to her.† â€Å"You can talk tous while you're dressing, and while we're walking, and while you're brushing your teeth for that matter,† said Bonnie firmly. â€Å"And if you leave out one tiny detail, you're going to be facing the Spanish Inquisition.† â€Å"You see,† said Meredith archly, â€Å"all Mr. Tanner's work has paid off. Bonnie now knows the Spanish Inquisition is not a rock group.† Elena was laughing with sheer ebullience as they went up the stairs. Mrs. Bennett looked pale and tired, but invited them in. â€Å"Vickie's been resting; the doctor said to keep her in bed,† she explained, with a smile that trembled slightly. Elena, Bonnie, and Meredith crowded into the narrow hallway. Mrs. Bennett tapped lightly at Vickie's door. â€Å"Vickie, sweetheart, some girls from school to see you. Don't keep her long,† she added to Elena, opening the door. â€Å"We won't,† Elena promised. She stepped into a pretty blue-and-white bedroom, the others right behind her. Vickie was lying in bed propped up on pillows, with a powder-blue comforter drawn up to her chin. Her face was paper-white against it, and her heavy-lidded eyes stared straight ahead. â€Å"That's how she looked last night,† Bonnie whispered. Elena moved to the side of the bed. â€Å"Vickie,† she said softly. Vickie went on staring, but Elena thought her breathing changed slightly. â€Å"Vickie, can you hear me? It's Elena Gilbert.† She glanced uncertainly at Bonnie and Meredith. â€Å"Looks like they gave her tranquilizers,† said Meredith. But Mrs. Bennett hadn't said they'd given her any drugs. Frowning, Elena turned back to the unresponsive girl. â€Å"Vickie, it's me, Elena. I just wanted to talk to you about last night. I want you to know that I believe you about what happened.† Elena ignored the sharp glance Meredith gave her and continued. â€Å"And I wanted to ask you-† â€Å"No!† It was a shriek, raw and piercing, torn from Vickie's throat. The body that had been as still as a wax figure exploded into violent action. Vickie's light-brown hair whipped across her cheeks as she tossed her head back and forth and her hands flailed at the empty air. â€Å"No! No!† she screamed. â€Å"Do something!† Bonnie gasped. â€Å"Mrs. Bennett! Mrs. Bennett!† Elena and Meredith were trying to hold Vickie on the bed, and she was fighting them. The shrieking went on and on. Then suddenly Vickie's mother was beside them, helping to hold her, pushing the others away. â€Å"What did you do to her?† she cried. Vickie clutched at her mother, calming down, but then the heavy-lidded eyes glimpsed Elena over Mrs. Bennett's shoulder. â€Å"You're part of it! You're evil!† she screamed hysterically at Elena. â€Å"Keep away from me!† Elena was dumbfounded. â€Å"Vickie! I only came to ask-† â€Å"I think you'd better leave now. Leave us alone,† said Mrs. Bennett, clasping her daughter protectively. â€Å"Can't you see what you're doing to her?† In stunned silence, Elena left the room. Bonnie and Meredith followed. â€Å"It must be drugs,† said Bonnie once they were out of the house. â€Å"She just went completely nonlinear.† â€Å"Did you notice her hands?† Meredith said to Elena. â€Å"When we were trying to restrain her, I got hold of one of her hands. And it was cold as ice.† Elena shook her head in bewilderment. None of it made sense, but she wouldn't let it spoil her day. She wouldn't. Desperately, she searched her mind for something that would offset the experience, that would allow her to hold on to her happiness. â€Å"I know,† she said. â€Å"The boarding house.† â€Å"What?† â€Å"I told Stefan to call me today, but why don't we walk over to the boarding house instead? It's not far from here.† â€Å"Only a twenty-minute walk,† said Bonnie. She brightened. â€Å"At least we can finally see that room of his.† â€Å"Actually,† said Elena, â€Å"I was thinking you two could wait downstairs. Well, I'll only get to see him for a few minutes,† she added, defensively, as they looked at her. It was odd, perhaps, but she didn't want to share Stefan with her friends just yet. He was so new to her that he felt almost like a secret. Their knock on the shining oak door was answered by Mrs. Flowers. She was a wrinkled little gnome of a woman with surprisingly bright black eyes. â€Å"You must be Elena,† she said. â€Å"I saw you and Stefan go out last night, and he told me your name when he came back.† â€Å"You saw us?† said Elena, startled. â€Å"I didn't see you.† â€Å"No, no you didn't,† said Mrs. Flowers, and chuckled. â€Å"What a pretty girl you are, my dear,† she added. â€Å"A very pretty girl.† She patted Elena's cheek. â€Å"Uh, thank you,† said Elena uneasily. She didn't like the way those birdlike eyes were fixed on her. She looked past Mrs. Flowers to the stairs. â€Å"Is Stefan home?† â€Å"He must be, unless he's flown off the roof!† said Mrs. Flowers, and chuckled again. Elena laughed politely. â€Å"We'll stay down here with Mrs. Flowers,† said Meredith to Elena, while Bonnie rolled her eyes in martyrdom. Hiding a grin, Elena nodded and mounted the stairs. Such a strange old house, she thought again as she located the second stairway in the bedroom. The voices below were very faint from here, and as she went up the steps they faded entirely. She was wrapped in silence, and as she reached the dimly lit door at the top, she had the feeling she had entered some other world. Her knocking sounded very timid. â€Å"Stefan?† She could hear nothing from inside, but suddenly the door swung open.Everyone must look pale and tired today , thought Elena, and then she was in his arms. Those arms tightened about her convulsively. â€Å"Elena. Oh, Elena†¦Ã¢â‚¬  Then he drew back. It was just the way it had been last night; Elena could feel the chasm opening between them. She saw the cold, correct look gather in his eyes. â€Å"No,† she said, hardly aware that she spoke aloud. â€Å"I won't let you.† And she pulled his mouth down to hers. For a moment there was no response, and then he shuddered, and the kiss became searing. His fingers tangled in her hair, and the universe shrank around Elena. Nothing else existed but Stefan, and the feel of his arms around her, and the fire of his lips on hers. A few minutes or a few centuries later they separated, both shaking. But their gaze remained connected, and Elena saw that Stefan's eyes were too dilated for even this dim light; there was only a thin band of green around the dark pupils. He looked dazed, and his mouth-that mouth!-was swollen. â€Å"I think,† he said, and she could hear the control in his voice, â€Å"that we had better be careful when we do that.† Elena nodded, dazed herself. Not in public, she was thinking. And not when Bonnie and Meredith were waiting downstairs. And not when they were absolutely alone, unless†¦ â€Å"But you can just hold me,† she said. How odd, that after that passion she could feel so safe, so peaceful, in his arms. â€Å"I love you,† she whispered into the rough wool of his sweater. She felt a quiver go through him. â€Å"Elena,† he said again, and it was a sound almost of despair. She raised her head. â€Å"What's wrong with that? What could possibly be wrong with that, Stefan? Don't you love me?† â€Å"I†¦Ã¢â‚¬  He looked at her, helplessly-and they heard Mrs. Flowers's voice calling faintly from the bottom of the stairs. â€Å"Boy! Boy! Stefan!† It sounded as if she were pounding on the banister with her shoe. Stefan sighed. â€Å"I'd better go see what she wants.† He slipped away from her, his face unreadable. Left alone, Elena folded her arms across her chest and shivered. It was so cold here. He ought to have a fire, she thought, eyes moving idly around the room to rest finally on the mahogany dresser she'd examined last night. The coffer. She glanced at the closed door. If he came back in and caught her†¦ She really shouldn't-but she was already moving toward the dresser. Think of Bluebeard's wife, she told herself. Curiosity killedher . But her fingers were on the iron lid. Her heart beating rapidly, she eased the lid open. In the dim light, the coffer appeared at first to be empty, and Elena gave a nervous laugh. What had she expected? Love letters from Caroline? A bloody dagger? Then she saw the thin strip of silk, folded over and over on itself neatly in one corner. She drew it out and ran it between her fingers. It was the apricot ribbon she'd lost the second day of school. Oh, Stefan. Tears stung her eyes, and in her chest love welled up helplessly, overflowing. That long ago? You cared about me that long ago? Oh, Stefan, I love you†¦ And it doesn't matter if you can't say it to me, she thought. There was a sound outside the door, and she folded the ribbon quickly and replaced it in the coffer. Then she turned toward the door, blinking tears from her eyes. It doesn't matter if you can't say it right now. I'll say it for both of us. And someday you'll learn.

Culture Convergence

Introduction In recent times, the globalization topic is one of the most discussed issue across the world. With globalization, countries has started to build stronger economic ties and be increasingly reliant on each other as it has never be. Some researchers argue of cultural convergence; that is, as two countries become closer with each other, they will be more likely to influence each other's culture, thereby bringing the two different cultures to be more similar.For example, the popular culture, which originates from Western European and America, is often to be said to influence the developing Asian countries' culture, and is often dubbed as Westernization (Leung et al, 2008). Conversely, there are many that argue also of cultural divergence; which is the belief that each nation's culture are deeply rooted in the countries' history, so that even if outside culture try to influence the belief and attitude of the people, the difference between cultures can still be maintained, and can even increase over time (Axelrod, 1997; Turnbull & Sheehan, 2012).Hofstede (1980) defined four dimensions of culture that describes the fundamental similarities and differences of human behavior and decision making process that forms part of culture. These dimensions will be valuable for measuring cultural convergence or divergence. They consist of masculinity/femininity, power distance, individualism/collectivism and uncertainty avoidance. Power distance is the dimension of which inequality of power is expected and accepted as normal by the less powerful members of organization and society.Masculinity/ Femininity is the measure of which society is oriented towards ‘masculine' value : competitiveness, assertion, success , good performance, etc. instead of ‘feminine' value: kindness, caring, empathy, etc. Individualism/Collectivism measures to what extent society lets each individual care for their own: more individualism means that the ties between individuals in the society is more loose. Uncertainty Avoidance is the measure as to how much the members of the society avoid risky behaviors and stay the conservative way.This essay will try to discuss whether countries has experienced cultural convergence or divergence, by first looking to the cultural divergence phenomenon, and then the cultural convergence phenomenon, and finally comparing both and giving recommendation as to how the risks of the phenomenon observed can be mitigated. Discussion Cultural Divergence Axelrod (1997) argued in his model that local convergence may cause global polarization. He contends that the convergence in society will stay in local area only, as the culture converge in a region that have nothing in common with neighboring regions.This causes local regions to have culture convergence, but in the bigger area, the difference between cultures remain stable, thus increasing polarization or cultural divergence. Axelrod (1997) also argues that polarization level gets hig her if there are a few dimensions of the culture, many alternative traits on each dimensions, and if the size of the region is large enough to allow for many cultures, but small enough for the change process to finish before all cultural boundaries are dissolved by the spread of cultural traits. Further, Klemm et al. (2003) argued that the level of perturbation to a culture influences how the culture drifts.They argued that perturbation, up to a level, will bring a culture to converge together, but when the perturbation or influence is high enough, the culture will split into several sub-culture, meaning the culture has been polarized or diverged. This phenomenon can be attributed to several reasons, such as preference for more extreme views, geographical isolation, social differentiation (tendency for groups to differentiate themselves compared to other groups), drift, the in and out of fads and fashions, specialization and changing environment or technology (Axelrod, 1997).There a re some examples of this phenomenon in the real life. For one, Turnbull & Sheehan(2012) argued that due to historical and cultural differences, the chain fast food company McDonald have to alter their strategy and brand imaging in Canada and Japan. This happens even though they are a company that is trying to build a similar image in every country they are established in. Furthermore, they also found that some of Australia's public relations policy clearly rejects that their culture has been assimilated to the US culture.Another example is given by Darling-Wolf (2004) interview with Japanese women about foreigners, in which he found that Japanese women are still viewing Western women as shallow, vain and selfish. Martin (2010) also found that Japanese people found foreign actors and actresses to be more likeable if they exhibit some Japanese characteristics. This indicates that Japanese women still hold their cultural values highly, and not influenced by the Westernization that may happen as a result of the strong ties between Japan and America. Finally, Anderson et al. 2000) found that there are significant differences between Indian and American aerospace scientists and engineers, especially in the power distance, individualism and uncertainty avoidance dimension, indicating cultures still at the very least maintain their differences, if not diverging from each other. Cultural Convergence The theory behind cultural convergence notion is that a nation's culture is viewed as a subsystem of a global culture, and that culture is an open system that can exchange input and outputs with other cultures.Given this, to avoid entropy a system needs to reach an equilibrium, which is the state where all cultures are assimilated, and hence forming a culture convergence. This theory proposes that if two cultures interact frequently, they will most likely be converged together(Bergiel, 2011). One example that comes to mind when discussing convergence is Westernization, whic h is the phenomena where non-Western (typically Asian) culture are often changed and influenced with Western cultures through the exposure by media such as TV and Internet, as well as from various other interaction between the two cultures.The ever increasing global marketing, as well as the increasing number of businesses that expands their business to foreign countries, only serve as a vehicle for cultural assimilation to happen, as the two cultures will mesh together and form a stable equilibrium according to this notion. This notion of cultural convergence also gain some support from researchers.As an example, Bergiel (2011) found in his study about Japanese and US culture that in regards of individualism, masculinity and power distance the trend of convergence has been found to be very extreme, as the role of the two country reverses in between the two decades since Hofstede released his study in 1980. In 1980, the US society were said to be holding up the value of individualis m, have low power distance and masculinity, while in this study it was found that now Japan culture has now moved from collectivism to individualism, surpassing the US score in the dimension, have lower power distance compared to the US, and is more masculine.However, this may be also influenced by the politic-economic factors in the two country, and not solely by the fact that the two culture interacted with each other. Also, in the long-term orientation it has been found that the two cultures converge, sporting similar score in that dimension. Further, Nieves et al. (2006) also found from their study that Mexican and American engineers has converged their culture in the individualism dimension, compared to when Hofstede did his research in 1980.Convergence Vs. Divergence Hence, while cultural convergence theory contends that over time and different cultures that interacts with each other will form a stable equilibrium eventually, the cultural divergence theory contends that cultur es will maintain its own unique identity, as culture needs big enough perturbation to have a lasting change, and they typically maintain their difference despite the influence from foreign cultures/countries.Some researchers argue that globalization will make cultures to converge, as globalization means that information is very easily accessible, and cultures are exposed to other cultures constantly, so that in cultural convergence theory this will cause those cultures to form an equilibrium, and that the world is converging into a ‘global village'. (Inglehart & Welzel, 2005). However, some researchers also argue that globalization may not necessarily cause convergence. Inglehart & Norris (2009) argued that the globalization may even cause polarization of the cultures.They argued that the values that the rich country's public hold usually changes rapidly, while poorer countries generally are slower in adapting change in culture. This opens up a gap in culture difference betwee n rich societies and poor societies. Further, they also found that richer countries also differ in culture in religiosity to poor societies. Richer countries are becoming more and more secular in these days, while poorer countries are typically more traditional and religious.Similarly, richer countries are also moving towards gender equality, while many poorer societies still hold patriarchal values highly (Inglehart ; Norris, 2009). Further, this can also apply not to nation's cultures, but also its subcultures. Typically, the richer societies in the urban area adopt new values more rapidly, and rural society sticks with their traditional culture and adopt changes slowly. Finally, convergence theory is argued to be exaggerating the level of consensus of core value between US and other countries, thereby reducing the actual level of assimilation barrier that exists in the real world.Hence, it is most likely that cultural divergence and polarization is what actually happens in the wo rld. Organizations should take note of this divergence phenomenon in order to successfully conduct a global or multinational operation. Some researchers argue that the national cultural difference may bring problems in an organization in the integration process and consequently knowledge transfer (Vaara, 2003). The reason this happens is cultural difference is often thought to impede cooperation between the members.Further, Hogg & Terry (2000) argued that similarity are often a factor in deciding attractiveness and trustworthiness, and having different culture makes an individual automatically less attractive and trustworthy compared to someone from the same culture. However, Sarala & Vaara (2009) argued that with different culture, organization may benefit from having different knowledge and repertoire that could be shared around. Hence, with cultural difference, knowledge transfer can potentially be more effective as there are more knowledge to go around.Although the knowledge pot ential is great, what is more important is to actually manage to spread it around the organization and make sure that individuals from different cultures are comfortable with each other. Sarala & Vaara (2009) argued that the way for organization to do this is through facilitated communication, in order to reduce uncertainty and increase trust between the members of the organization. Also equally important is that the organization management practice must be aligned with the nation's culture that they are in, in order to operate smoothly in the face of cultural difference (Nieves et al, 2006).Hence, to be successful, an organization must proactively try to make the members of the organization increase their trust with each other, as well as changing their managing practices, depending on the culture that they are currently residing in. Conclusion In conclusion, cultural convergence is the theory that different cultures that interact in a regular basis will influence each other and fo rm a stable equilibrium, thus converging the two cultures, while cultural divergence is the theory that states that cultural differences will be maintained, and even grow apart from each other even though they interact in a regular basis.The basis of cultural convergence theory is that the member of society will try to imitate and assimilate the new foreign culture, while the cultural divergence theory contends that group tends to stay within themselves and differentiate themselves from other groups. In real life, it seems likely that the cultural divergence theory is correct, as even if a culture is experiencing change from foreign culture, the rate of change in the different part of society may be different, thus creating a gap as well.For example, richer societies tend to adopt new values quickly, while poorer societies might hold to their traditional value, hence creating a cultural divergence overall. To overcome this issue, organization needs to actively try to facilitate comm unication between the members of their organization if they have different cultures, as well as altering their management practice to fit the culture of the society that they are currently residing in. Reference Anderson, C. J. , Glassman, M. , ; Pinelli, T. (2000).A Comparison of Communications Practices Among Indian and US Scientists and Engineers. Journal of East-West Business,  6(1), 81-108. Axelrod, R. (1997). The Dissemination of Culture A Model with Local Convergence and Global Polarization. Journal of conflict resolution,  41(2), 203-226. Bergiel, E. B. , Bergiel, B. J. , ; Upson, J. W. (2012). Revisiting Hofstede’s Dimensions: Examining the Cultural Convergence of the United States and Japan. American Journal of Management,  12(1), 69-79. Bredillet, C. , Yatim, F. , ; Ruiz, P. (2010).Project management deployment: The role of cultural factors. International Journal of Project Management,  28(2), 183-193. Darling-Wolf, F. (2004). Women and new men: Negotiating masculinity in the Japanese media. The Communication Review,  7(3), 285-303. Hofstede, G. (1980). Culture's consequences: International differences in work-related values  (Vol. 5). Sage Publications, Incorporated. Hogg, M. A. , & Terry, D. J. (2000). Social identity and self-categorization processes in organizational contexts. Academy of management review, 121-140. Inglehart, R. & Welzel, C. (2005). Modernization, cultural change, and democracy: The human development sequence. Cambridge University Press. Klemm, K. , Eguiluz, V. M. , Toral, R. & San Miguel, M. 2003. Global culture: A noise induced transition in finite systems. Physical Review E 67, 045101(R). Leung, K. , Bhagat, R. S. , Buchan, N. R. , Erez, M. , & Gibson, C. B. (2005). Culture and international business: recent advances and their implications for future research. Journal of International Business Studies,  36(4), 357-378. Martin, D. (2012).Foreign women in Japanese television advertising: Content analyses of a cultural convergence paradigm. European Journal of Marketing,46(1/2), 157-176. Nieves, R. , Mujtaba, B. G. , Pellet, P. F. , & Cavico, F. (2011). Culture And Universal Professional Values In Global Organizations: Is There A Divergence Or Convergence Of Cultural Values?. Journal of Diversity Management (JDM),1(1), 31-38. Norris, P. , & Inglehart, R. (2009). Is national diversity under threat? Cosmopolitan communications and cultural convergence. Cosmopolitan Communications and Cultural Convergence Sarala, R.M. , & Vaara, E. (2009). Cultural differences, convergence, and crossvergence as explanations of knowledge transfer in international acquisitions. Journal of International Business Studies,  41(8), 1365-1390. Turnbull, N. , & Sheehan, M. (2012, November). The impact of divergent historical and cultural factors on convergence in global communication practice. In  WORLD PUBLIC RELATIONS FORUM 2012  (p. 128). Vaara, E. (2003). Post? acquisition Integration as Sensemaking: Gl impses of Ambiguity, Confusion, Hypocrisy, and Politicization. Journal of Management Studies,  40(4), 859-894.

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

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Managing cultural diversity and perceived organizational support - Essay Example The findings did not support this association. However the regression analysis indicated that there is an indirect association between cultural diversity management and affective commitment via perceived organizational support. A real-world example of cultural diversity management can be found in Wal-Mart (Wal-Mart 2009 Sustainability Report). It is a large international discount retail chain which implements a variety of diversity programs in order to create an internationally diverse workforce. Programs such as diversity training and supplier diversity have enabled the multinational company to provide organizational support to minority-owned businesses. This has been a source of competitive advantage globally. The diversity management programs have enabled the company to build an organizational culture that supports employment resourcing effectively internationally.

Solar Panel Energy as an Alternative to Traditional Electrical Energy Research Paper

Solar Panel Energy as an Alternative to Traditional Electrical Energy for Residental Dwellings - Research Paper Example The solar energy is a significant source of energy to all living things on the earth. Traditionally, individuals depended on fossil fuels such as coal and oil for electricity production. However, coal and oil being fossil fuels are infinite and cannot be renewed or regenerate themselves. According to research conducted, it is evident that the fossil fuel reserves will become exhausted in few centuries to come. Traditionally, there existed a belief that an alternative fuel to coal and oil would be nuclear power. However, its rate of nuisance is characterized by the 1986 Chernobyl catastrophe in Japan. This has made solar energy to be regarded as the best replacement for fossil fuels. This is because of its greatest accuracy and safety. In addition to that, it is the most reliable and impressive energy source. For instance, the solar radiation on an average day can be five times higher in summer as compared to winter. Nevertheless, in winter to be precise during the sunny day, it is po ssible to capture a radiation of 4-5kWh/M2 /day. This is possible in regardless of the temperatures within the surrounding (Brown, 2006). Solar systems and panels are significant in solar power exploitation and have application in various dimensions. These are such as, domestic hot water preparation, heating of pool water, technology process heating and heating of buildings via heat input. In residential dwellings, there is incorporation of solar thermal systems that are modern without any difficulties in the facilities of the building (Hodgson, 2008). Furthermore, the systems have a longer lifespan (more than 20yrs) thus making them to be effective in complementing the modern technology of heating. Thus, the purpose of this proposal is to analyze solar panel energy as an alternative to traditional electrical energy for residential dwellings. Problem Statement The demand for energy in the world is increasing rapidly. People require energy to communicate, light their houses, and prep are their meals among other functions. The demand is as a result of increased population growth and individuals living standards. The utilization of energy in the world has doubled over centuries. The main source of energy being utilized in the world is oil whose production is projected to peak in the coming few years. Another most utilized source of energy is coal. Coal and oil greatly pollutes the environment. For instance, they are the major causes of climate change and acid rain. That is why the world needs urgently cleaner energy to satisfy its energy demands and reduce negative environmental impacts as a result of traditional method of electrical production. Justification of the study Many environmentalists and scientists perceive that the world needs to reduce on its greenhouse gas emission for purposes of decreasing global warming. Greener energies such as solar power provide a solution to this problem. Even though solar energy is a cleaner alternative source of energy, ther e exist many challenges that need to be addressed. The challenge is such as its ability to be utilized on a wide scale and replace the utilization of fossil fuels as the principal source of energy. In comparison to other methods of electricity production, solar energy is a renewable form of energy that is clean; the solar panels can be utilized sufficiently and effectively to heat homes and water.

Poverty and Underdevelopment in Modern Times Essay

Poverty and Underdevelopment in Modern Times - Essay Example From this paper it is clear that this serves as grounds for the presence of the sick, the poor and the illiterate. These three are not only indicators of poverty, but are also indicators of underdevelopment. A country is said to be underdeveloped if it has a high rate of illiteracy. While First World countries have high literacy rates, the opposite is seen in countries that do not have enough teaching facilities and teachers. The cycle of underdevelopment is one that is hard to break. Through the lack of university graduates that add up to their workforce, there is not much to be expected of professionals in the underdeveloped country. Furthermore, the quality of industrial products produced in a country where native is more advanced than technology itself cannot be seen as worthy of being exported. Another determining factor of an underdeveloped country is the preference of imported products over the locals. Due to the availability of high priced imports, the local sector is deplete d of wealth and therefore the budget is decreased. Furthermore, the growing populations which cannot be supported by the government due to the lack of enough funds are forced to live daily on malnutrition. The cost of living in rural areas differs significantly with urban areas, and the marginalized sector is ever present. Simply put, poverty is the outcome of a country’s underdevelopment. The lack of funds for every citizen in the country to receive the benefits due him results to inefficiency and deprivation. These in turn lead to a poor way of life that will be resulting to a country which is poor. Poverty is an issue that cannot be easily alleviated. Even with the presence of organizations that claim to target the elimination of poverty, it still lingers and is growing still. Along with the population explosion comes the increase in poverty. It is a primordial matter of country security.

Ways We Change Essay Example | Topics and Well Written Essays - 500 words

Ways We Change - Essay Example Sometimes, the process of change takes place automatically and sometimes, one has to push himself to be a part of a particular change process as mostly, people are afraid of the consequences of the change and therefore are resistant to it. However, humans have to face the monster of change in every step they take. So, changing is an intrinsic feature of human nature. The foremost reason highly observed for being involved in the â€Å"change process† is, as human beings grow up, they get to understand themselves better; their likes, dislikes, feelings, values, preferences, environment and surroundings. All these things make up his mind whether to change himself or not. The living needs of the world, the circumstances around us and the prerequisites to survive in this competitive world actually pushes an individual to change himself in almost all the areas of life. The change process of anything can be divided into four steps; pre-contemplation, contemplation, action and maintenance. In pre-contemplation, one tries to resist the change process and not thinks about it. Then, in contemplation, one starts to think about changing by weighing the pros and cons of change. Afterwards, in action, one tries to take steps to adopt the change process and lastly in the maintenance stage, one tries to preserve the momentum of the change and tries not to dissuade the change. Human life is full of examples where he/she has to pass through the change process. Educational Traveling is one such example. Mostly, students have to go abroad for higher studies. They have to adapt themselves according to the culture, values, traditions and norms of that particular country and have to adapt themselves to their educational system. Further, talking about marriage, as one gets married, he has to go through an immense kind of change process; he has to mould his habits according to the likes and dislikes of his partner. He has to forgo his careless nature and has to be

Forgiveness concept Essay Example | Topics and Well Written Essays - 750 words

Forgiveness concept - Essay Example According to them God brought every being to life by breathing into them like people do when administering CPR when trying to resuscitate someone. Religion supports their argument by quoting the Holy books such as the quaran and the bible. Religion is seen to expound on the concept of forgiveness by quoting the Holy books such as the quaran and the bible. Looking at the bible as a reference point, the first book of Genesis outlines how God created Adam and Eve and gave them a place to inhabit and also gave them the responsibility to take care of his creation. All God wanted was to have a good relationship with man. However God gave Adam and Eve a condition which was that they were not to eat a fruit from one specific tree. Despite this Adam and Eve betrayed God and went ahead and ate the fruit. This angered God and he burnished them from the garden of the Eden. However grave their sin was God forgave then and continued to bless them and watch over them. All religions have an aspect o f forgiveness in them. Aside from religion, human beings from time immemorial have been seen to also apply this concept of forgiveness whereby in the early ages indigenous communities after wars or misunderstandings decided to forgive each other and resolve conflict by forgiving each other and living an harmony. These communities just saw no need to have grudges against each other. I believe therefore that this concept is bore within us whereby these communities had no religion or reference point but they saw the need to forgive each other. Forgiveness goes hand in hand with peace and therefore these communities lived in peace with each other. Looking at the concept of forgiveness it is letting go of the bad things or harm another individual has committed against them. According to the Christians forgiveness is not directly proportional to the amount of harm one has caused against you. In that Christians

Competition, Marketing Mix, and Pricing Research Paper

Competition, Marketing Mix, and Pricing - Research Paper Example Key Characteristics of the Users Maryland General Hospital offers wide range of services to its customers with different characteristics and with different needs and requirements. The hospital is based in Baltimore City, which is the largest city of Maryland. A sharp decline can be found in the Baltimore’s poverty line. Most of the people who find themselves under the federal poverty line are moving to the suburban areas from the urban or metro cities. In the city of Baltimore, there are more than 21,000 people who are below poverty line, but recently a major decline in the rate of the poor population has taken place. Maryland General Hospital targets people from both the metro and suburban area of the Baltimore. They offer specialized premium services for the premium patients with high income level and also offer general service for the mass. They also offer different special services to different demographic strata, such as children care, senior citizen care and women care. For example, Heart catheterization is provided to adult and children separately. The Hospital offers some specialized service within the framework of women care. The Competitive Environment of the Health Care Provider The competition generally arises on one or more elements like quality, price, convenience etc. Competition eliminates the inefficiency of the players. But in case of Maryland General Hospital, there is no such price competition among the leading players in the market as 75% of total cost for the treatment of an individual is provided by the health insurance company (Kronick, Goodman & Wennberg, 1993). Different hospitals try to differentiate its services on the basis of quality. If Porter five forces model is applied for Maryland General Hospital it will be clear that most of the competitions are coming from the rival hospitals. The competition is immense for Maryland General Hospital. There are 14 hospitals in Maryland. All the hospitals provide customized services. A study suggests that 58% of the patients recommended for going again to Maryland General Hospital while 77% people recommended for going Greater Baltimore medical centre. Many people also recommended for Good Samaritan Hospital. Even in this respect the Mercy Medical Centre Inc has also got high points than Maryland General Hospital. The hospital faces quite low bargaining power from the suppliers as there are many suppliers present in the market. The timely delivery of equipment and medicines are very essential for the hospital. The hospital needs to depend highly on its suppliers to maintain goodwill in front of the customers as most of the hospitals are competing mostly on the quality and not on the price. There is no such threat from a new entrant in the market as the set up cost is very high for any new entrant and the physical evidence is the most important factor for any hospitals so the new entrant has to face a tough competition from the old players as the physical evidence is very strong of the old players. There is no such substitute in hospital’s product as it is a necessary service for all. The buyers bargaining power is also strong but as mostly the insurance company pays the bills, the bargaining power gets reduced. Tools of Marketing Mix Marketing comprises of seven elements. For the health care sector all the 7P’

Inkwell Accounting Department Essay Example for Free

Inkwell Accounting Department Essay The Accounting Department 1. Inkwell has a small finance team. The accounting department is based in the head office of the company, which is located in Birmingham. There are 8 people in the finance team. Each member of the team has their own computer. The team has access to the internet using Firefox and two printers integrated to each computer. 2. Inkwell has one Financial Director, Anil Gupta. Anil’s main job is to manage the overall financial position of the business, ensuring capital investments and corporate strategy is properly dealt with. He has delegated the running of the accounts department to the company accountant. 3. Inkwell has one company accountant, Michael O’Payne who has been in charge of most financial affairs before Anil Gupta joined the company. The others in the financial team report to him. 4. The team consists of one accounts technician, one General Ledger and Inventory Clerk, one Accounts Payable Clerk, one Accounts Receivable Clerk, one Costing Technician and one Payroll and Personnel Database clerk. 5. The accounting department keep a close relationship with the shop staff. The main mode of communication is through email and phone calls, occasionally a member from the team will pay them an unexpected visit. The Accounting Department- Key Internal Stakeholders 1. Anil Gupta, Financial Director, has the overall responsibility for all finance, legal and accounting procedures and systems. He produces annual reports and statutory accounts. Alongside this he deals with financial issues such as banking and also legal issues, such as contacts. Anil has 30% of the company’s shares when joined the directors in 2008. 2. Michael O’Payne, the Company Accountant, has been in the company since the set up of the company. His main duties include running the day to day responsibility of the accounts department. He also produces monthly management accounts and approves payments to suppliers. After observing the company there is a low level of tension between him and Anil. However, Michael still needs to report to Anil, if he likes it or not. 3. Alex Fox, accounting technician, has the responsibility of making sure the accounting system is reviewed and recommend changes, along with other project work. She has to report to both Anil and Michael, however works more closely to Michael. 4. Michelle Labelle, General Ledger and Inventory Clerk, has the duties of maintaining the company’s cash book and keeping control on the company’s inventory. This requires Michelle to keep in close communication with the store managers. She too reports to Michael. 5. Liana Khan, Accounts payable Clerk, has the responsibility of entering all the suppliers’ invoices and credit notes on to the accounting system. She also has to ensure payments are arranged to suppliers. Liana also reports to Michael, her Father in Law. 6. Greg Morris, Accounts Receivable Clerk, has the duties of inputting all data received by customers, as well as credit control duties. These duties include sending out monthly statements to customer, working out discounts and chasing customers who have not paid in the time given. 7. Alan Cook, Costing Technician, has the responsibility of operating the costing system. This means Alan has to work closely with the Sales director in order to reach market prices. Alan uses Quickcost software to do his work and has been doing it for since the company started. He also monitors the cost and profitability of each cartridge on a monthly bases and advises management about variance targets. 8. Sharon Ward, Payroll and Personnel Clerk is responsible for the running of the payroll, both Weekly and monthly and also to make sure the personnel database is always up to date. Sharon uses Sage Payroll systems to process all her statutory forms.

One set of Global Accounting Standards Good idea

One set of Global Accounting Standards Good idea The US GAAP has influenced accounting standards in many countries. A decade ago, some still expected that it would eventually become globally accepted but in recent times, this is not likely because there has been a distinctive global shift towards the use of International Financial Reporting Standards (IFRS) in the past few years. Many nations such as Japan, China and India have active programs designed to achieve convergence with IFRS for financial reporting purposes and more than 100 nations either require or permit the use of IFRS for financial reporting and is likely that it will soon become globally accepted (James, 2009). There has been a broad movement in the US towards the acceptance of IFRs, supported by the Financial Accounting Standard Board (FASB). The Security Exchange Commission (SEC) is also considering allowing US companies choose between US GAAP and IFRS when reporting to the SEC and may require that all US public companies utilize IFRS by the year 2016 and while no final decisions have been made, it is quite certain that the US will be moving away from the traditional GAAP and towards a convergence with IFRS(James, 2009). For several decades, global organisations such as the European Union (EU), International Organisation of Securities Commission (IOSCO) and the International Accounting Standards Commission (IASC) have supported international efforts to harmonize financial accounting standards and reporting(James, 2009). To some extent, the EU gave global convergence a kick-start when they made it compulsory for EU companies listed on an EU exchange prepare their consolidated accounts after Jan 2005, under IFRS (Gill and Rosen, 2007). In 2001, the IASC reorganized and the IASB was created. Harmonization efforts thereby shifted to globalization and in 2002, the FASB and IASB signed what is commonly referred to as the Norwalk Agreement, in which the two standard setting organisations agreed to work together to develop a high quality single set of accounting standard that would be used internationally for domestic and cross border financial reporting. It was agreed that to achieve this goal, they would e liminate existing differences between US GAAP and IFRS and coordinate their efforts on future standard setting projects. As a result of this, they are now compatible in many areas even though some significant differences still exist such as LIFO inventory cost valuation which is widely used in the US but is specifically prohibited under IFRS. Others like presentation, pre-operating and pre-opening costs, borrowing costs and fair value (Gill and Rosen, 2007) exist and have to be reconciled if a global set of standards are to emerge (FASB, 2002). POTENTIAL ADVANTAGES AND DISADVANTAGES ARISNG FROM ONE SET OF GLOBAL ACCOUNTING STANDARDS Having a single set of global accounting standards has its benefits. Firstly, a single set of high quality globally accepted financial accounting standard tends to serve the financial users better and would likely lead to the greatest comparability between companies (James, 2009). The SEC identifies comparability of financial information to investors as a key benefit. Firms choose to adopt IFRS in order to increase opportunities such as increasing the number of global customers and suppliers. US companies want to investigate the financial strength of these customers when establishing long term relationships and these can be facilitated through the use of one reporting standard Secondly, academic research suggests that investors prefer to invest in companies that use familiar standards. Firms that engage in international activities would benefit from convergence and are more likely to voluntarily adopt IFRS if they have more international interactions (Bradshaw et al., 2010). Furthermore, voluntary adoption of IAS reduces the tendency for investors to over invest in domestic stock and under invest in foreign stocks. This could suggest that foreign investment decisions are related to conformity of accounting methods with domestic accounting standards. US Companies will therefore benefit from convergence of US GAAP and IFRS given that IFRS has over 100 countries adopting to it , thereby increasing foreign investment (Bradshaw et al., 2010). One set of global accounting standards would lead firms to exhibit less earnings management, more timely, less recognition and more value relevant information. There would be improvement in accounting quality and also increased liquidity in markets because IFRS is considered a higher quality set of standards as evidenced by lower information asymmetry and greater liquidity (Bradshaw et al., 2010). Lastly, it allows US issuers greater opportunity to compete in global capital markets. Replacing the competing and often contradictory standards would improve investor confidence, allow investors draw better conclusions and simplify the process and cut costs for issuers (Gill and Rosen, 2007). However, having only one set of global accounting standards has its demerits. Adopting IFRS when material differences exist at both conceptual and magnitude level could pose great costs and can be detrimental to investors(Bradshaw et al., 2010). For smaller companies, challenges will arise when their clients are acquired by foreign owners wanting to file under IFRS and this will be due to the firms not being prepared for the change because they dont have the same resources as the big firms(Rahr et al., 2010). Secondly, transition is costly and time consuming especially for public accounting firms due to initial education and software modifications which will require time and money to compute when transition to IFRS takes place. Fees for advising companies by CPAs would be substantial (Rahr et al., 2010). Furthermore, it can lead to users of financial statements claiming that preparers claim that they used standards that are not reliable and that they dont have sufficient knowledge of IFRS, leading to litigation issues (Rahr et al., 2010). Lastly, US colleges and universities dont appear to be equipped to teach IFRS at a level necessary for near-term adoption of standards (Bradshaw et al., 2010). WOULD ONE SET OF GLOBAL STANDARDS BE APPROPRIATE FOR ALL COUNTRIES? Though having one set of accounting standards have their benefits, it may be naÃÆ'Â ¯ve to think that adopting one set of standards for all countries. Skills transferred from Anglo-American countries to developing countries may network because they are culturally irrelevant or dysfunctional in these developing countries (Perera 1989, Cited in Deegan 2001). Also, the IASC standards are strongly influenced by Anglo- American accounting models and thus tend to reflect the circumstances and patterns of thinking in a group of countries. They are likely to have problems of relevance in countries with different cultural environments from Anglo American countries (Craig Deegan, 2001). Lastly, efforts towards assisting countries, particularly the developing countries by providing them with a mechanism to use western style accounting systems may cause harm because UK professional bodies dont make concessions to overseas students and insist on a set of knowledge known to UK practice and are irrelevant and harmful if applied in the wrong way (Seminar note). ADVANTAGES AND DISADVANTAGES OF A PRINCIPLE BASED APPROACH AND RULES BASED APPROACH FOR REGULATION OF FINANCIAL REPORTING. IFRS are generally principle based standards while the US GAAP is more rules based. They differ on a number of points and can affect an entitys reported results(Gill and Rosen, 2007). The rules based approach has been under fire of late due largely to the Enron Corporation failure whereby Arthur Anderson was seen as designing client-originated financial instruments that met the technical requirements of GAAP while violating the intent (Benston et al., 2006). The Sarbanes-Oxley Act of 2002 (SOX) was then issued to improve financial reporting and protect investors and it requires that the SEC conduct a study on the adoption of a principles based set of accounting standards (James, 2009). Principle based approach encourage the use of professional judgement with a focus on what is right and not what is in the rules and thus discourages financial engineering. They have a better ability to cope with the speed of change of environment and they are also less voluminous and easier to understand as they provide latitude to financial statement preparers and are easier to conform with international standards(Moneywatch.com, 2002). However, the flexibility of principle-based approach leads to professional judgement calls when financial statements and audits are prepared and this could lead to financial restatements and increased litigation if the users disagree with the CPAs judgment. They can also be a significant loss of comparability among reporting entities because preparers and auditors are required to exercise judgement in accounting for transactions (Benston et al., 2006). The Rules based Approach are developed to meet demands of major constituents like management and auditors who want a clear answer to every perceivable accounting issue and this protects accountants from criticisms and lawsuits (Benston et al., 2006). There is also less need for explanation in financial statements and less room for interpretation which results in less complex and more transparent financial statements and it reduces problems in countries such as the US characterized by a litigious environment and dominated by a very legalistic framework as the rules are stated clearly (Benston et al., 2006). However, they are too voluminous as it comprises of over 2000 separate pronouncements which are several hundred pages long and issued in various forms and formats by numerous bodies (Gill and Rosen, 2007). Secondly, because of its detailed regulations, application of rules-based approach has led to a lack of transparency regarding matters like revenue recognition derivatives, off-balance sheet finance and the likes (Elliot and Elliot, 2006). Lastly, rules can become useless or dysfunctional when the economic environment changes or if managers create innovative transactions (Benston et al., 2006). CONCLUSION Convergence of IFRS and the US GAAP is in the best interest of US companies in the long run if it provides greater comparability and yields equal or higher quality standards. They both represent a high quality set of accounting standards in terms of mitigating information asymmetry and providing information important for valuation. However, its unclear whether IFRS provides equivalent financial reporting quality relative to US GAAP(Bradshaw et al., 2010).

Play and Spoken Language Development Essay -- Child Development

The Plowden report (1967) published the intrinsic worth of play as the central approach of acquiring knowledge in the early years of children’s lives. The word play cannot be easily defined because it always depends on the contexts and the contexts also vary. There are different forms of play such as fantasy play, free flow play, constructive play, imaginative play, role play, socio-dramatic play, structured play, pretend play and heuristic play. These forms of play are categorised as â€Å"Play as learning†, and â€Å"Play as Practice† (Macintyre 2001:6). Moyles (2005), states that it is quite adverse that the phrase play has numerous meanings, and this makes parents to be wary of it. Meckley (2002) in his framework suggests that all different types of play involves varieties of activities and behaviours which results in diverse developmental and learning outcomes. Research suggest that the means to spoken language development in children’s brain is hearing language consistently because it is as a result of this that they would be able to speak (Brotherson,2005).There are evidences that toddlers who experience d talking with their mothers when they were infants have advanced vocabularies and a firm foundation for future communication. Snow (1997) claims that children who are deprived of language experiences at age four encounter a breach which barely expands over the school years. Claxton (1984) defined play as a method and approach which offer learning culture in which children’s fundamental learning needs can be met. He argued that these needs include the chance to communicate, question, interact with others and be part of a wider social experience in which flexibility, lenience and self –discipline are crucial. Moreover, different typ... ... principles, 2008).The EYFS has been a statutory requirement ever since 2008 for each and every ofsted registered settings. Furthermore, contributions from brain research have presented a lot of backups for the early years as a time for nurturing children’s learning holistically. Children’s communications and early experiences while they play has impact on the way the brain develops, and assist in shaping its formation(Shore,1997).This research, acknowledged the value of play as a â€Å"scaffold for development, a vehicle for increasing neural structures, and a means by which all children practice skills they will need in later life†(Isenberg&Quisenberry,2002:33). Meek (1985),proposed that it is through reading activities that children will start to learn a bit regarding metalinguistics, the language of language, and the concepts of words.

The Washington Monument Essay -- Architecture History Historical Essay

The Washington Monument The most stunning monument in our capital is the Washington Monument. At 555 feet high, it is the tallest such monument in the world. It is an obelisk by shape, yet not a true obelisk because it is not carved out of a single stone. The monument was built at intervals between 1848 and 1885. It memorializes George Washington's achievements and his devotion to principles and to his country. The Washington Monument has an interesting history. The idea of a monument celebrating George Washington was first considered by the Continental Congress in 1783. However, the next three decades brought neglect by Congress to take action. Finally, in 1833 the Washington National Monument Society was organized to forward the progress of the monument. Progress was slow for the society and by 1847 they had raised $87,000. Robert Mills, a well-known architect, was soon selected to design the monument. His design called for a decorated obelisk that was 600 feet high, rising out of a circular colonnaded building. This building was to be a 'temple' , an American pantheon, which would house statues of presidents and national heroes, including a large statue of George Washington. The design changed over the years and finally settled on a the obelisk without decoration as we know today. The building progressed well until the civil war. At this time construction was halted for almost 25 years. This left the unfinished obelisk standing 150 feet. Finally, on August 2, 1876, President Grant ordered the completion of the monument. The capstone was placed on the monument on December 6, 1884 and it was finally dedicated on February 21, 1885. Elevators were first powered by a steam hoist. The current elevator was installed in 195... ...ke the ancient Egyptians, we still raise monuments to commemorate our present day heroes. Although today these monuments are ordered and directed by the general public and not by the king or hero themselves. (This probably accounted for the difficulty in final completion of the Washington Monument) The long history or the obelisk being built, toppled, and stolen, further illustrates the ideas it contains. It stood for power and divinity. Today, the Washington Monument stands as a symbol of George Washington's contribution to our nation and our citizens still pay tribute to the great leader. Works Cited: Badawy, Alexander. A History of Egyptian Architecture. University of California Press. 1968. Tompkins, Peter. The Magic of Obelisks. Harper & Row Publishers, New York, 1981. Engelbach, L. The Problem of the Obelisks. T. Fisher Unwin Limited, London, 1923.

The Causes of School Violence :: Expository Cause Effect Essays Columbine

Violence in schools is an ever-growing problem in America. It seems every time we turn on the television we hear news of a new and even more disastrous event. The question we need to ask ourselves now is how can we prevent these tragedies. Many agree that looking at the behavior of students and trying to catch the problem before it escalates could be the solution. Schools increasingly believe that their responsibility is not only to teach academics, but also to curb violent, disruptive, and antisocial behavior. They recognize that underlying problems, such as bullying, teasing and learning disabilities, need to be addressed. Many of these problems were present in Eric Harris and Dylan Klebold, the adolescent murderers from Littleton, Colorado, but were not adequately addressed before the tragedy. Dylan and Eric had been quiet, intelligent boys and respectful to their teachers throughout middle school, but as they entered high school, things began to change. Dylan and Eric began to alienate themselves and became "loners". They would play violent games and were easily agitated. For a class project, Dylan and Eric made a video featuring gunmen in long coats shooting athletes in the school hallways. They were often made fun of by the "popular" crowd. Why were these signs left unaddressed? Research has shown that the students most likely to own guns and bring them to school have histories of antisocial behavior involving violations of school codes of conduct and criminal laws. Violence, typically, is used to express feelings, to manipulate others, or to retaliate against others. Warning signs include: * Inability to self-regulate emotions * Exposure to violence/abuse * Alienation/rebelliousness * Peer rejection * Substance abuse * Academic failure/ low goals, aspirations * Lack of effort in school Violent youth usually feel alienated. The key to curbing this behavior is learning to recognize these signs and getting professional help for those displaying them. The earlier the intervention, the more effective it will be. Some medical conditions have been connected with violent behavior in young people.

Assessment On Guidance And Counselling Education Essay

This brief essay efforts to discourse the function that school counselors, larning and disablement specializers, school psychologist and sometimes even private pattern clinicians play in the procedure of educational ability appraisal. The paper ‘s statements are entirely based on a reappraisal of the modern-day relevant literature. The essay begins with a brief reappraisal of the kineticss involved in instruction ability appraisal and so examines in inside informations, what function that these professionals play. Measuring Education Ability By education/academic ability, the paper refers to a pupil ‘s possible and accomplishment in formal acquisition ( Oosterhof, 1994 ) . The appraisal is conducted to find the degree of possible and or attainment that a pupil has upon exposure to a peculiar acquisition environment ( Oosterhof, 1994 ) . In measuring a kid, the experts involved attempt to measure the extent of basic academic accomplishments that such a kid can or has accumulated at a given phase. In most instances, what is evaluated scope from cognitive accomplishments, reading and composing abilities, comprehension, callback, arithmetic accomplishments, communicating abilities etc ( Oosterhof, 1994 ) . For the intents of this paper, instruction ability assessment shall entirely mention to the potency of a kid to achieve academic accomplishments and non the already achieved accomplishments. Appraisal is besides conceived as supplying a scope of trials that help measure the potency of such a kid to larn and retain cognition in an academic scene ( Oosterhof, 1994 ) . There are those kids who display model academic accomplishments in such appraisals, normally classified in a group of superior larning ability, while others may hold a lower than mean possible, normally classified in a group of larning disablement ( Oosterhof, 1994 ) . Available literature suggests that in the yesteryear, instruction ability appraisal has meant a measuring of a kid ‘s rational ability. Such appraisals have merely constituted of sets and separate subtests of differing academic accomplishments ( Wiggins, 1993 ) . There are times that such assessment becomes critical ( Elliott, 2000 ) . For case, the school can acknowledge a kid who is executing beyond norm and even better than those far in front his or her degree ( Elliott, 2000 ) . These ‘genius ‘ pupils can sometimes hold the ability of pupils 10 old ages older and therefore necessitate particular attending and publicity to their degree of ability ( Wiggins, 1993 ) . At other times, a pupil can bespeak below-par public presentation and the school be willing to carry on a trial to find whether the kid has a disablement in acquisition ( Wiggins, 1993 ) . Independently, pupils are besides put through such appraisals when fall ining a new school, a new class or measure uping for a peculiar entry that requires a peculiar degree of instruction ability ( Taylor, Personal writer, compiler, or editor name ( s ) ; click on any writer to run a new hunt on that name.1997 ) . In all these cases, the appraisal is conducted by a panel of multi -disciplinary professionals, all of whom have single countries of expertness which combine in supplying the assessment consequences of such a kid ( Wiggins, 1993 ) . Professional Roles in Assessing Education Ability Education ability appraisal has attracted voluminous involvements in the last two decennaries. Presently, most of the available literature has been concentrating on the experts behind the appraisal procedure, inclusive of the diverse professionals responsible of doing the appraisal ( Aas et al. , 2009 ) . The assessors ‘ judgements carry important weight and impact for the assessed persons, the instruction plans and their establishments ( Aas et al. , 2009 ) . It is hence imperative that the function that these professionals/experts play be regulated by standardised processs and protocols if the appraisal is to be used for such cardinal determinations as a kid ‘s hereafter. The fact that academic ability appraisals have become a cardinal constituent of academic plans across the Earth in about every state on Earth makes it really of import that there be a cosmopolitan standards, criterion and codification of pattern employed in such procedures. Pertinent to this position is the method employed, the ends set and the functions that each expert plays in the appraisal ( Aas et al. , 2009 ) . Most schools have employed staff school counselors, larning and disablement specializers, school psychologist and sometimes even private pattern clinicians to panel the educational ability appraisal processes whereby they employ their professional expertness and cognition to organize an independent equal appraisal of kids in that school. The professio nals can be hired on a full-time, parttime and long-run footing ( Aas et al. , 2009 ) . One of the functions that these professionals play in the appraisal processes is naming larning jobs in pupils. Using the clinical psychological science theories, the experts diagnose whenever a kid has physiological, psychological and emotional jobs that mar his or her ability to larn. Identification of such jobs helps in finding ways to assist such kids in their acquisition. Second, the clinical psychological science professionals help to fit pupils with their optimum acquisition environments. This is done through measure uping which pupils fit which environment and which do non ( Taylor, Personal writer, compiler, or editor name ( s ) ; click on any writer to run a new hunt on that name.1997 ) . A pupil may be able to get by with certain demands of a peculiar acquisition environment while being wholly unable to get by with another environment ( Elliott, 2000 ) . These professionals help to fit a pupil with his or her ideal degree of challenges, demands and outlooks, non merely to forestall disheartenment and defeat for that kid, but besides to put the kid in the environment that he or she can be at his or her best ( Taylor, Personal writer, compiler, or editor name ( s ) ; click on any writer to run a new hunt on that name.1997 ) . Chiefly, these assessment Sessionss are the footing that many instruction establishments conduct abnormal psychology, psychological rating, psychoeducational guidance, audience, etc, for the pupils or possible pupils of such establishments ( American Psychological Association, 2007 ) . These professionals are charged with a experimental decision-making authorization, whereby they evaluate a kid and do a determination about such a kid ‘s ability to larn in peculiar environments. Notably, these professionals besides help the kids by coaction with the instructors in reexamining the best ways that a kid can be helped to achieve his or her possible ( Elliott, 2000 ) . This provides a important penetration to ideal direction and kid development methods in an purpose to expeditiously come on each kid ‘s cognitive/academic abilities. The professionals are besides able to name jobs in and propose ways of amending the socialisation processes of such kid ( Aas et al. , 2009 ) . In many cases, the professionals accumulate informations that is valuable to instruction and kid development and or psychology research while besides assisting reform educational systems organisations, policies and climes in favour of pupils ( Oosterhof, 1994 ) . Importantly, the professionals are given the authorization of forestalling crises and salving kids before their jobs get worse, utilizing their expertness to nail possible jobs even before such jobs become open ( Taylor, Personal writer, compiler, or editor name ( s ) ; click on any writer to run a new hunt on that name.1997 ) . School counselors, larning and disablement specializers, school psychologist and private pattern clinicians play the parental function in educational establishments by looking into the public assistance of each kid, for intents of heightening their acquisition ( Aas et al. , 2009 ) .

Cultural Practices that Affect Health Essay

The Community Health Nurse (CHN), an individual who works outside of the hospital setting and typically with a specific community to provide basic health care systems (All Nursing Schools, 2009) can be perceived as the bridge to address the gap between western medicine and cultural traditions. In cases when cultural practices cause physical harm and health risks, the CHN can be the tool to provide information and educate individuals to inform them of the tangible health risks and often permanent damages caused by such practices. What is also important to acknowledge is that there is an imminent health risk that needs to be addressed. According to Megan Costello (2004), in an article about female circumcision, sometimes making a practice illegal does not serve as a good enough deterrent. Costello (2004) explains that what people need is more information to understand the health risks and the unwarranted, in terms of perceived health benefit, practice. In North African countries, an average of 94 percent of women are subjected to female circumcision (Brigham and Women’s Hospital, 2008). In the United States there are an estimated 228,000 girls and women at risk of female circumcision (Brigham and Women’s Hospital, 2008). The CHN through community agencies or organizations can work to create care systems that will facilitate the dissemination of information. The CHN can effect policy change that will bring health care to the disadvantage populations or minority groups, such as refugees, who may have little understanding of western health care systems. Essentially, to address the gap between large health care institution and individual members of small communities, the CHN has the task of developing a system that will inform members of these groups of the serious harm caused by their practices. Similarly, the CHN through the same system can protect the young adults often subjected to these traditional practices. In the case of female circumcision, Bien Aime of Equality Now (quoted in Costello, 2004) says, â€Å"†¦ people need education. We need people on the ground who have access to girls and young women at risk, to help them understand that not only is this procedure against the law, but also that there are harmful effects. † As more and more cultures and ethnic backgrounds are assimilated through migration activities there is a need to provide health care that is culturally competent. The CHN becomes integral in the task of providing adequate care to all individuals with equity regardless of cultural or ethnic backgrounds through a sensitive approach. In cases where the cultural practice causes permanent injuries and prolonged negative complications to health the CHN can contribute to changing these practices. References All Nursing Schools. (2009). Become a Community Health Nurse. All Nursing Schools. Retrieved March 7, 2009, from http://www. allnursingschools. com/faqs/community-health-nurse. php Brigham and Women’s Hospital. (2008). African Women’s Health Center. Brigham and Women’s Hospital. Retrieved March 7, 2009 from http://www. brighamandwomens. org/africanwomenscenter/FGCprevalence. aspx and http://www. brighamandwomens. org/africanwomenscenter/education. aspx? subID=submenu4 Costello, A. (2004, February 19). Two in U. S. Accused of Genital Mutilation. Women’s E News. Retrieved March 7, 2009 from http://www. womensenews. org/article. cfm/dyn/aid/1718

The Neighbourhood Principle

Has The Neighbourhood Principle failed? â€Å"My neighbour asked me if he could use my lawnmower and I told him of course he could, so long as he didn’t take it out of my garden. †1 This is the concept which most people tend to associate the word ‘neighbour’ with. However, in the court room, the word makes a decisive shift away from this traditional meaning and endeavours to establish to whom a common law duty of care is owed. The law has expanded considerably by the onset of the concept of foreseeable plaintiffs which is almost 80 years in existence in the UK.It is evasive in determining â€Å"whether proximity should now be regarded as a discrete analytical concept around which arguments may be constructed, or merely as a slippery expression reflective of the fairness, justice and reasonableness of imposing a duty of care upon the defendant in the light of the nature of his relationship with the claimant. † 2 This essay sets out to establish whethe r the neighbour principle was successful or if it has fallen short and where, it will present court decisions, statutes and constitutional provisions pertinent to this area of law.In articulating what was meant by â€Å"the neighbour principle†, Lord Atkin famously stated the following proposition: â€Å"The rule that you must love your neighbour becomes in law you must not injure your neighbour; and lawyer’s question, ‘who is my neighbour? ’ receives a restricted reply. You must take reasonable care to avoid acts or omissions 1 2 Eric Morecombe (English comedian, 1926-84) Hartstone, J. , ‘Confusion, contradiction and chaos within the House of Lords post Caparo v. Dickman’, (2008) 16 Tort L Rev 8 which you can reasonably foresee would be liable to injure your neighbour?The answer seems to be – persons who are so closely and directly affected by my act that I ought reasonably to have them in contemplation as being so affected when I am directing my mind to the acts or omissions which are called in question. †3 His definition was to become the foundation stone of later cases involving negligence and was, in due course, accepted as â€Å"the first definitive test of when a duty of care was owed. †4 Atkin’s statement has given rise to much discussion. At first, some displayed uneasiness at the very wide and flexible terms in which it was propounded 56.It is important to remark that this neighbour principle formed part of the ratio decidendi of Atkin’s judgment but that it cannot be said that it is the ratio decidendi of his decision. â€Å"For although both Lord Thankerton and Lord Macmillan contemplated the addition of new duties to the law of negligence, neither of them attempted to formulate the principle or principles upon which this might be done. Nor is the generalising approach of the neighbour principle appropriate to the criminal law, where precision and certainty are all-importan t. †7 As a consequence of the Donaghue v.Stevenson [1932] case in the UK, the people were given a potential remedy to take against the providers of consumer products even where no privity contract had been in existence between the 3 4 Ibid at 580 Connolly, U. , Tort Law, (Second Audition, Thomson Reuters (Professional) Ireland Limited, Dublin, 2009) at 16 5 Smith v. Howden’s Ltd [1953] N. I. 137 per Lord MacDermott C. J. 6 London Graving Dock Co. Ltd. v. Horton [1951] A. C. 736 7 Heuston, R. F. V. , ‘Salmond on the Law of Torts’, 17th edition, (Sweet & Maxwell, London, 1977) at 198 complainant and the individual or company tortfeasors.If the proviso for ascertaining that a duty of care was met, then such individuals could bring negligence claims in any situation. The dictum was accepted into Irish law in Kirby v. Burke [1944]. 8 The decision in this case â€Å"stands on the boundaries of actionable negligence,†9 and does not contend nor purport to gi ve guidance on the obligations arising from already distinguished duties, or in fact, recognisable relationships – e. g. that of occupier and visitor. 10 Sometimes the particular duty can subsist contemporaneously with the Atkinian duty,11 but sometimes it displaces it. 2 Duties may be divided into those owed to someone else i. e. â€Å"if it was imposed for the benefit of that someone else;†13 and duties owed to no one in particular i. e. if it was not imposed for the benefit of a particular individual but was imposed for the benefit of the community as a whole or for the benefit of some section of the community. †14 In an ever conscious society, there was much need for the modernisation of the law with regard to the wider duties and especially the neighbourhood principle. The Anns v.Merton15 case brought about the ‘two-stage test’ in order to ascertain 8 9 Kirby v. Burke [1944] I. R. 207 Smith v. Howdens Ltd. [1953] N. I. 131, 137, per Lord MacDerm ott C. J. 10 Smith v. Scott [1973] Ch. 314 11 Commissioners for Railways v. McDermott [1967] A. C. 1054 12 Commissioners for Railways v. Quinlan [1964] A. C. 1054 13 Bagshaw, R. and McBride, N. , ‘Tort Law’, (Pearson Education Limited, Essex, 2001) at 3 14 Ibid at 3 15 Anns. v. Merton London Borough Council [1978] A. C. 728 the existence of a duty of care in negligence.Lord Wilberforce initiated the requirement of: I. II. â€Å"A sufficient relationship of proximity based upon foreseeability†16 And secondly, the deliverance of reasons as to why a duty of care should not exist. In 1990, concerns arose with regard to the duty of care. 17 â€Å"Lord Bridge and Oliver in Caparo sought to remove any temptation on the part of the practitioners to view proximity as a discrete legal concept capable of precise application to the resolution of legal disputes. Instead, encouragement was given to view proximity in descriptive terms rather than as a definitive concept. 18 Th is time a three-stage test was introduced to establish a duty of care I. II. III. Foreseeability of damage was required, A relationship characterised by neighbourhood19 And that it would be fair, just and reasonable to impose a duty which would benefit the other party. â€Å"The Caparo tripartite approach made no reference to the concept of policy. Instead, Lord Bridge spoke only in terms of a duty of care being imposed where the 16 17 18 Ibid at 741 Caparo Industries Plc v. Dickman [1990] 2 A. C. 605 Op cit 2 as per judgment of Lord Atkin ‘Caparo v.Dickman’ (2008) 16 Tort L Rev ‘Caparo v. Dickman’ (2008) 16 Tort L Rev 8Lawbook Co. at 13 8Lawbook Co. at 13 19 court considered that it would be fair, just and reasonable to do so. †20 It is also interesting to note that a two-part test is now in place in certain jurisdictions, e. g. New Zealand, for novel fact circumstances where the finding of a duty now has to be balanced against applicable policy mat ters. 21 The two-step test established in Donaghue22 and later developed in Anns23 was that accepted by the Irish courts until 2002 until the decision of Glencar Exploration Plc v.Mayo County Council [2002]. 24 This case marked the adaptation of a two-step test which gave precedence to the â€Å"incrementalist approach†25 that was being applied in the English courts at the time. Implications of the decision in this case made by the Supreme Court became blatant in the case of Fletcher v. Commissioners of Public Works. 26 â€Å"A plaintiff who suffered reasonably foreseeable psychiatric injury, which had resulted from the defendant’s negligence towards him as his employer, was denied the damages awarded to him by the Supreme Court on ‘policy’ grounds. 27 This new approach is much more sympathetic. Since 2005, proximity has once again come to the fore with regards to decisions made by the House, some of their Lordships have adopted it as a â€Å"central ana lytical tool for disposing of appeals. †28 Thus, the notion that this principle of 20 21 22 23 24 25 26 27 28 Ibid at 13 Scott Group Ltd. v. McFarlane [1978] 1 N. Z. L. R. 553 Op cit. 4 Op Cit 19 Glencar Exploration Plc v. Mayo County Council [2002] 1 I. R. 84 Class notes on Negligence authored by Connolly, U. , distributed by Hackett. C. Fletcher v.Commissioners of Public Works in Ireland [2003] 2 I. R. 465 Byrne & Binchy, Annual Review of Tort Law, (2003) at 526 Op cit 26 at 13 proximity could â€Å"have been elevated to the dignity of being a concept in its own right†29 originated. It is subsequently unclear now as to whether it should be regarded as â€Å"a discrete analytical concept around which arguments may be constructed, or merely as a slippery expression reflective of the fairness, justice and reasonableness of imposing a duty of care upon the defendant in the light of the nature of his relationship with the claimant. 30 To bring to a close, the term ‘ neighbour’ and proximity clearly have a much wider interpretation – physical proximity, causal proximity or indeed the denotation of a legal relationship. Furthermore, if this test is satisfied, it is then up to the court to decide whether any policy reasons (or otherwise) exist so as not to acknowledge a duty of care in that particular case. The elusiveness of how this dictum is interpreted may never be resolved. It is the application of policy to novel situations of what is fair, just and reasonable that has instigated the advancement of the neighbour principle.In other fields of law, the broader legal concepts of reasonableness and unconscionability are applied every day. The courts are in a state of uncertainty with regard to the dictum. It is evident that the law has had to expand considerably. So perhaps, in the future, the test of fair, just and reasonable as displayed in the Glencar31 case will be triumphant due to its conversion of the practical, everyday test for negligence into the legal test. Despite having its flaws, it still makes the law comprehensible to all. 29 30 31 Ibid at 13 Ibid at 13 Op cit 34