Property and Capital Markets - Free Essay Example

Sample details Pages: 4 Words: 1152 Downloads: 1 Date added: 2017/06/26 Category Housing Essay Type Narrative essay Level High school Did you like this example? Property and Capital Markets School of Property, Construction and Project Management Table of Contents Introduction1 Location of Properties 2 Types of properties 3,4 Trust size and debt levels 5 Location of Head office 6 Reference List 7 Introduction Australian real estate investment trusts (A-REITs) allow investors to access property assets that may be out of financial reach for individual investors, due to the large cost of purchasing property. Trading costs of A-REITs are approximately 0.5% of the transaction cost when compared to the physical purchase of property. (Lecture notes, 2014) A-REITs appeal to investors because of the liquidity factor and enhanced continual income generated from lease agreements. Investors can also diversify their portfolio into a range of property types. The Folkestone Education Trust (FET) was officially listed on the Australian Securities Exchange (ASX) on 22nd of May, 2003. In June 2014, the Austral ian Education Trust (ASX code: AEU) changed its name to Folkestone Education Trust (ASX code: FET). (FET, 2014a) The Folkestone Education Trust is the largest Australian listed real estate trust that invests in early learning properties within Australia and New Zealand. The structure of Folkestone Education Trust allows it to hold and manage a portfolio of assets on behalf of their investors and shares are bought and sold on the ASX. The Folkestone Education Trust is a trust, where investors own units. Distributions are paid quarterly through to investors, they include rental income and capital payment for example if a property was sold. (FET, 2014a) The funds manager is separate from the trust. The Trust has 205,069,661 units on issue as at 30th of June, 2014. The majority shareholder is J P MORGAN NOMINEES AUSTRALIA LIMITED who holds 31,206,018 units which is approximately 15% of the total units available. (FET, 2014b) Location of Properties Folkestone Education Trust early learning properties are located mainly in Australia. The Trust also have a small portion of properties in New Zealand both in the north and south islands. The location of Folkestone Education Trust properties is shown in figure 1. Figure one: Location of Properties Source: FET, 2014b Figure one shows Folkestone Education Trust has 298 Australian properties primarily located in Queensland (107) and New South Wales (88). The Folkestone Education Trust also has 56 properties in New Zealand (36) in the north island and (18) in the south island. The trust has property in each state of Australia and both islands of New Zealand. The trust owns 5 development sites that are not shown in this analysis therefore the total amount of properties is 357. (FET, 2014b) Types of Properties Folkestone Education Trust solely focuses on early learning centres. The trust has 5 development sites as well and hopes to develop them into new early learning centres. The typical configurat ion of an early centre owned by the trust consists of up to five childrenà ¢Ã¢â€š ¬Ã¢â€ž ¢s activity rooms with direct access to external play areas. The internal layout consists of a feature entry foyer, central hallway, toilets for varying ages, shower, preparation areas, nursery, kitchen, additional staff area, reception, administration area, storage, and disabled toilet. The external play areas consist of shade cloths, sandpits, awning covered verandas adjoining external play areas, grass and rubber matting to external play areas, child proof fencing throughout, paving, landscaping, lighting and signage. Also early learning centres consist of on-site car parking spaces in marked bays (incl. 1 disabled) average 16, maximum 48. All tenants must comply with regulations to meet the required legislative requirements regarding building services, occupational health safety and early learning licensing requirements. Location is typically within established residential and commercial locations featuring medium to high traffic areas, good accessibility and access to public transport. (FET, 2014c) In figure two the tenant diversification is shown by rental income as at 31st of December, 2013. Figure two: Tenant Diversification by rental income as at 31st of December 2013 Source: FET, 2014c Figure two shows the trust has 28 tenants, 27 in Australia and 1 in New Zealand. 203 lease agreements with Goodstart Early Learning Limited for early learning properties in Australia, equates to 60% of the rental income for the trust. Kidicorp Limited has 56 leases with all the early learning centre properties in New Zealand, equates to 11% of the rental income for the trust. Figure three: Lease expiry profile Source: FET, 2014b Figure 3 displays the amount of income earned during the lease agreement until the lease expires. From 2019 onwards until 2023 lots of leases will expire. Folkestone Education Trust will have to renegotiate new leases with tenants in order to secure future income. Trust size and Debt levels As at 30 June 2014, the Folkestone Education Trust total assets are valued at $464.6 million. Gross debt was $147.3million and net assets were $306.7million. The net tangible asset per unit is $1.50 (Last financial year 30 June, 2013: $1.33). The Trust has gearing (borrowings and cash overdraft / total assets) of 31.7%. (FET, 2014b) The major financiers for the Folkestone Education Trust are the National Australia Bank (NAB) who provide the major capital and Australia New Zealand Bank (ANZ) who provide the cash overdraft. Both these banks provide the debt facilities for Folkestone Education Trust. The trust got an extension of the debts maturity to June, 2017 with the National Australia Bank and a $50 million increase to the facility limit to $173 million. The Trust also has an overdraft facility with ANZ in order to more efficiently manage its working capital position $0.3 million as at 30 June, 2014 with a limit of $10 million. (FET, 2014b) Figure four: Gearing level for the past four years Source: FET, 2014b Figure four demonstrates the gearing level from 2011 to 2014. The gearing level in 2011 was 39.60% and has fallen to 31.70% as at 30th of June, 2014. There are two reasons that could explain how Folkestone Education Trustà ¢Ã¢â€š ¬Ã¢â€ž ¢s gearing level has fallen. The first reason could be borrowing less cash from financial institutions reduces the gearing level. The second reason could be an increase in total assets will lower gearing. Location of the head office Folkestone Education Trust has one office in Australia. The responsible entity is located in Melbourne. To find out more about Folkestone Education Trust or any questions contact the responsible entity as per details below. Responsible Entity à ¢Ã¢â€š ¬Ã¢â‚¬Å" Folkestone Investment Management Limited Level 12, 15 William Street, Melbourne Vic 3000 Tel: +61 3 8601 2668 Fax: +61 3 9200 2282 Email: [email  protected]/* */ (FET, 2014a) Reference list Lecture notes 2014, Property and Capital Markets BUIL1228, Module 3 Understanding Property Investment Markets Session 9: Real Estate Investment Trusts, RMIT University, Melbourne, viewed 20th of August, https://lms.rmit.edu.au/bbcswebdav/pid-5507329-dt-content-rid-11236982_1/courses/BUIL1228_1450/Lecture Notes S9.pdf Folkestone Education Trust 2014a, Folkestone Education Trust website, FET https://educationtrust.folkestone.com.au/, viewed 20th of August 2014 Folkestone Education Trust 2014b, 6th of August 2014, Annual report 2014, FET, Melbourne, viewed 20th of August 2014, https://educationtrust.folkestone.com.au/wp-content/uploads/sites/2/2014/04/FET-Annual-Report-30-June-2014.pdf Folkestone Education Trust 2014c, 31st of December 2013, Folkestone Education Trust Profile, FET, Melbourne, viewed 20th of August 2014, https://educationtrust.folkestone.com.au/wp-content/uploads/sites/2/2014/04/FET-Profile-Final.p df Australian Securities Exchange (ASX), 6th of August 2014, ASX ANNOUNCEMENT, Australian Securities Exchange (ASX), Sydney, viewed 20th of August 2014, https://www.asx.com.au/asxpdf/20140806/pdf/42r9q57pc0c0fc.pdf Don’t waste time! 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Origin of Mass of Subatomic Particles Essay - 927 Words

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H.G. Wells free essay sample

This essay tells the story of Wells life and works and how they relate to the authors life. This paper looks at the life of famed novelist H.G. Wells. The author describes his childhood, education, marriages, and most importantly, Wells science fiction works, such as The Time Machine, and The Island of Dr. Moreau. The paper also discusses Wells as a staunch socialist and how he conveyed his political beliefs in his writing. From the paper: Herbert George Wells was born at Bromley, Kent, on September 21, 1866, and died in 1946. H.G. Wells? family was not wealthy. His father owned an old China shop and his mother was a lady?s maid. Both parents made very little money. George Wells had little education and had been hired at a large drapery emporium. At the emporium he had the position of a draper?s apprentice. Here he had to wait on customers, show samples of merchandise, stock, and also account of all money taken in. We will write a custom essay sample on H.G. Wells or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page

Western Expansion Of The U.S. Essay Paper Example For Students

Western Expansion Of The U.S. Essay Paper Western Expansion of the U.S.International borders have always been centers of conflict, and the U. S.-Mexican border is no exception. With the European colonizing the New World, it was a matter of time before the powers collided. The Spanish settled what is today Mexico, while the English settled what is to day the United States. When the two colonial powers did meet what is today the United States Southwest, it was not England and Spain. Rather the two powers were the United States and Mexico. Both Counties had broken off from their mother countries. The conflict that erupted between the two countries where a direct result of different nation policies. We will write a custom essay on Western Expansion Of The U.S. Paper specifically for you for only $16.38 $13.9/page Order now The United States had a policy of westward expansion, while Mexico had a policy of self protection. The Americans never had a written policy of expansion. What they had was the idea of Manifest Destiny. Manifest Destiny was the belief that the United States had the right to expand westward to the Pacific ocean. On the other hand, Mexico was a new country wanting to protect itself from outside powers. Evidence of U.S. expansion is seen with the independence of Texas from Mexico. The strongest evidence of U.S. expansion goals is with the Mexican-American War. From the beginning, the war was conceived as an opportunity for land expansion. Mexico feared the United States expansion goals. During the 16th century, the Spanish began to settle the region. The Spanish had all ready conquered and settled Central Mexico. Now they wanted to expand their land holdings north. The first expedition into the region, that is today the United States Southwest, was with Corando. Corando reported a region rich in resources, soon after people started to settle the region. The driving force behind the settlement was silver in the region. The Spanish settled the region through three major corridors; central, western and eastern. The first settlements were mainly through the central corridor. The Spanish went thorough what is now the modern Mexican state of Chihuahua into the U.S. state of New Mexico. Eventually the Spanish established the city of Santa Fe in 1689. The eastern corridor was through modern day Texas and led to the establishment of San Antonio. The eastern expansion was caused by the French expansion into modern day Louisiana. The Spanish crown wanted a buffer between the French in Louisiana and central Mexico. The last corridor of expansion was in the west, through the sea, which led to the establishment of San Diego in 1769 and Los Angles in 1781. The Spanish were not the only European power to colonize the new world; French, English and the Dutch also settled North and South America. The Spanish and the French settled what is present day U.S. -Mexico border region. The French settled modern day U.S. midwest, while the Spanish settled present day Mexico and U. S. southwest. As time went on, European influence in the region diminished.. The French sold there claims to the United States, in 1803 with the Louisiana Purchase. Mexico gained independence from Spain in 1821. Once the United States bought the Louisiana Purchase, western expansion began. This set the stage for major conflict in the region. The United States gained independence from England in 1775. After 1775, the Americans started to expand west. By the time Mexico gained independence, the United States had reached the Mexican frontier. Mexico needed to protect its northern borders. To protect the border region, Mexico needed to populate the area. Mexico continued the policy started by Spain of allowing Americans to settle Texas. The Americans had to follow Mexican law, religion and customs. The settlement of Texas played into the United States expansion plans. .u9f4ec47f7b7816d4346cd42faf3c3aaa , .u9f4ec47f7b7816d4346cd42faf3c3aaa .postImageUrl , .u9f4ec47f7b7816d4346cd42faf3c3aaa .centered-text-area { min-height: 80px; position: relative; } .u9f4ec47f7b7816d4346cd42faf3c3aaa , .u9f4ec47f7b7816d4346cd42faf3c3aaa:hover , .u9f4ec47f7b7816d4346cd42faf3c3aaa:visited , .u9f4ec47f7b7816d4346cd42faf3c3aaa:active { border:0!important; } .u9f4ec47f7b7816d4346cd42faf3c3aaa .clearfix:after { content: ""; display: table; clear: both; } .u9f4ec47f7b7816d4346cd42faf3c3aaa { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u9f4ec47f7b7816d4346cd42faf3c3aaa:active , .u9f4ec47f7b7816d4346cd42faf3c3aaa:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u9f4ec47f7b7816d4346cd42faf3c3aaa .centered-text-area { width: 100%; position: relative ; } .u9f4ec47f7b7816d4346cd42faf3c3aaa .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u9f4ec47f7b7816d4346cd42faf3c3aaa .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u9f4ec47f7b7816d4346cd42faf3c3aaa .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u9f4ec47f7b7816d4346cd42faf3c3aaa:hover .ctaButton { background-color: #34495E!important; } .u9f4ec47f7b7816d4346cd42faf3c3aaa .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u9f4ec47f7b7816d4346cd42faf3c3aaa .u9f4ec47f7b7816d4346cd42faf3c3aaa-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u9f4ec47f7b7816d4346cd42faf3c3aaa:after { content: ""; display: block; clear: both; } READ: Thirty Years from Now Essay Eventually Mexico City closed Texas from more Americans from entering. This angered the Americans wanting to enter and Americans already living in Texas. Texas revolted from Mexico in 1833. Mexicans did live in Texas, and fought for the independence of Texas. The majority of Texans were Americans and fought for their independence. After the war the Americans intentionally or non-intentionally forced most Mexicans out of Texas. The ones that stayed faced racial tensions that continue to today. After gaining independence from Mexico, Texas wanted to join the United States immediately. The U.S. Congress voted against Texas from joining the Union. Congress was worried that annexation of Texas would anger Mexico. Mexico had never officially recognized Texas as independent. Congress was concerned that annexation would start a war with Mexico. Mexicos repose to American annexation was not the only factor in deciding against annexation. If Texas was to become a state, it would be a slave state. At the time, the United States an even balance between slave and non-slave states. Texas entering the Union would disrupt the balance, giving slave states an advantage in th ..e U.S. House and Senate. Since the United States was not ready to annex Texas, Texas declared itself a sovereign country. In 1837 President Andrew Jackson formally recognized Texas a country. Texas wanted to be part of the United States. It needed the protection of the Untied States. President Tyler could not get the 2/3 majority needed to admit Texas. Instead, he changed the law to require only a simple majority. It was not until 1845 and two Presidents later that Texas was annexed into the United States. Mexico protested the admission of Texas into the United States. The United States saw Mexicos protest as a excuse to spend troops into Texas. The annexation of Texas was a represented the United States expansion goals. The United States wanted to settle in Texas, but Mexico owned the land. That did not matter to the United States, they settled in the region regardless. The Americans that settled the region agreed to Mexican law and customs, but still considered themselves Americans. After the annexation of Texas, Texas also wanted to expand. Texas claimed that New Mexico and California were part of Texas. The boundary with Mexico was also disputed. The United States claimed that the Texas border was at the Rio Grande. Mexico disagreed, Mexico stated the border was at Nueces River. The United States did try to settle matters diplomatically. The United States sent inexperienced diplomat John Slidell. Slidell tried to buy area known as the U.S. Southwest. Slidell, being an inexperienced diplomat, was rejected. Not only was he not successful in buying the land, he aroused Mexican fears. This set the stage for the Mexican-American War. The United States also had no written policy of expansion, but the government quietly supported it. The United States has always had troops the region, even though they held no land in the region The United States kept ships off the coast of California. In 1842 the U.S. commander in the region, Commodore Thomas Jones, attacked and took the city of Monterrey in California. He falsely believed that Texas and Mexico were at war. Once he realized his mistake he withdrew his forces and apologized to the Mexican government for his action and claimed that he did not act with orders from the U.S. government. Although Jones claimed that he did not act with orders from the U.S. government, clearly the government did not stop the practice. Another example of the United States expansion goals was the Mexican-American War. This is the first time America has fought a war with land expansion as its main goal. The war started on April 25 1846 with the attack from Mexican troops and the counter attack from General Taylor of the U.S. Army. .uffda518a24623df48f9228b87858cc69 , .uffda518a24623df48f9228b87858cc69 .postImageUrl , .uffda518a24623df48f9228b87858cc69 .centered-text-area { min-height: 80px; position: relative; } .uffda518a24623df48f9228b87858cc69 , .uffda518a24623df48f9228b87858cc69:hover , .uffda518a24623df48f9228b87858cc69:visited , .uffda518a24623df48f9228b87858cc69:active { border:0!important; } .uffda518a24623df48f9228b87858cc69 .clearfix:after { content: ""; display: table; clear: both; } .uffda518a24623df48f9228b87858cc69 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uffda518a24623df48f9228b87858cc69:active , .uffda518a24623df48f9228b87858cc69:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uffda518a24623df48f9228b87858cc69 .centered-text-area { width: 100%; position: relative ; } .uffda518a24623df48f9228b87858cc69 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uffda518a24623df48f9228b87858cc69 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uffda518a24623df48f9228b87858cc69 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uffda518a24623df48f9228b87858cc69:hover .ctaButton { background-color: #34495E!important; } .uffda518a24623df48f9228b87858cc69 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uffda518a24623df48f9228b87858cc69 .uffda518a24623df48f9228b87858cc69-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uffda518a24623df48f9228b87858cc69:after { content: ""; display: block; clear: both; } READ: Elian Gonzalez Should Stay In The U.S. Essay Taylor sent a message to President Polk that hostilities have started. President Polk, with a pre-drafted declaration of war, asked Congress to declare war against Mexico. President Polk knew that Mexico would lose the war and would gain new lands in the end. The Mexican-American war lasted two years, and ended with the signing of the Treaty of Guadeloupe on February 2 1848. The United States had succeeded in winning the war. With the Treaty of Guadeloupe the United States had succeeded in completing its Manifest Destiny. The Treaty itself represented the United States expansion goals. The United States wanted to settle on were the international border was to be. Mexico wanted the border to north of the Rio Grande river, but finally decided upon the middle of the Rio Grande river. Mexico having been bankrupt from the war, agreed to take the 15 million as payment for the vast land. In addition, the United States agreed to pay off all Mexican debts owed to the United States. This amount was small in comparison to what the United States gained in territory. The United States took advantage of a weak country of obtained its expansion goals. Another example of the United States taking advantage of Mexico is the Gasden Purchase. The Gasden Purchase was ratified in 1854 for the selling price of 10 million. Mexico was going through rough economical time and desperately needed the money. The United States seeing an opportunity to build a railroad through the region brought the land at a cheap price. The selling of the Gasden Purchase was the down fall of President Santa Ana, and led to his replacement. The conflicts along the border region were a direct result of U.S. expansion policies and Mexican fear for the United States. The Americans saw Manifest Destiny, westward expansion, as there God given right. The United States proved often that it supported policy of expansion. With the Mexican-American war, the United States completed its Manifest Destiny. The United States completed Manifest Destiny at the cost of the Mexican government and its people. Bibliography American History by James Smith: the american history publishing company copyright 1891 http://www.encarta.com

Bertrand Russell essays

Bertrand Russell essays Bertrand Russell is a very adamant philosopher and he feels strongly about how philosophy relates to people and everyday life. He is a strong believer in philosophical thinking and casting doubt upon everyday questions and actions. Russell believes that philosophy can enlarge our intellect by asking questions to various things which can be analyzed to a greater extent. Not to find exact answers to these questions, but to further our knowledge and to, Enlarge our conception of what is possible. In the reading on the value of philosophy, Russell makes a distinct difference between science and philosophy. He says that philosophy is separate from science because philosophy does not present any definite answers to its questions. Those questions that have definite answers are placed in the sciences. He states that as soon as definite knowledge concerning any subject becomes possible, that subject ceases to be called philosophy, and becomes a separate science. Russell believes that people should study philosophy to increase their knowledge and step out of what they know is real and true. He mentions the practical man in his writing as a person who is only concerned with what they need to survive physically. Russell thinks that people need to feed their minds with knowledge to better the person and all of mankind. He thinks society would be better off thinking in a philosophical sense, rather than sticking to what they already know and what they were raised to think. He thinks that the more people to do so, the better. He wants people to practice philosophical thinking, more so than studying the subject. He thinks all people should do so that are serious about philosophy, but not the people who are closed-minded individuals who stick to concrete beliefs and are not open to interpretation and questioning of issues. While taking this philosophy class this semester, I hope to further my knowledge in...

Code of Ethics for US Government Service

Code of Ethics for US Government Service   In general, rules of ethical conduct for persons serving the U.S. federal government are divided into two categories: elected members of Congress, and government employees. Note that in the context of ethical conduct, â€Å"employees† includes persons hired or appointed to work for the Legislative Branch or on the staffs of individual Senators or Representatives, as well as those executive branch employees appointed by the President of the United States. Active duty members of the U.S. military are covered by the codes of conduct for their specific branch of the military. Members of Congress The ethical conduct of the elected members of Congress is prescribed by either the House Ethics Manual or the Senate Ethics Manual, as created and revised by the House and Senate committees on ethics. Executive Branch Employees For the first 200 years of U.S. government, each agency maintained its own code of ethical conduct. But in 1989, the Presidents Commission on Federal Ethics Law Reform recommended that individual agency standards of conduct be replaced with a single regulation applicable to all employees of the executive branch. In response, President George H.W. Bush signed Executive Order 12674 on April 12, 1989, setting out the following fourteen basic principles of ethical conduct for executive branch personnel: Public service is a public trust, requiring employees to place loyalty to the Constitution, the laws and ethical principles above private gain.Employees shall not hold financial interests that conflict with the conscientious performance of duty.Employees shall not engage in financial transactions using nonpublic Government information or allow the improper use of such information to further any private interest.An employee shall not, except as permitted ... solicit or accept any gift or other items of monetary value from any person or entity seeking official action from, doing business with, or conducting activities regulated by the employees agency, or whose interests may be substantially affected by the performance or nonperformance of the employees duties.Employees shall put forth honest effort in the performance of their duties.Employees shall not knowingly make unauthorized commitments or promises of any kind purporting to bind the Government.Employees shall not use public offic e for private gain. Employees shall act impartially and not give preferential treatment to any private organization or individual.Employees shall protect and conserve Federal property and shall not use it for other than authorized activities.Employees shall not engage in outside employment or activities, including seeking or negotiating for employment, that conflict with official Government duties and responsibilities.Employees shall disclose waste, fraud, abuse, and corruption to appropriate authorities.Employees shall satisfy in good faith their obligations as citizens, including all just financial obligations, especially those- such as Federal, State, or local taxes- that are imposed by law.Employees shall adhere to all laws and regulations that provide equal opportunity for all Americans regardless of race, color, religion, sex, national origin, age, or handicap.Employees shall endeavor to avoid any actions creating the appearance that they are violating the law or the ethical standards set forth in this part. Whether particular circumstances create an appearance that the law or these standards have been violated shall be determined from the perspective of a reasonable person with knowledge of the relevant facts. The federal regulation enforcing these 14 rules of conduct (as amended) is now codified and fully explained in the Code of Federal Regulations at 5 C.F.R. Part 2635. Part 2635. Over the years since 1989, some agencies have created supplemental regulations that modify or supplement the 14 rules of conduct to better apply to the specific duties and responsibilities of their employees. Established by the Ethics in Government Act of 1978, the U.S. Office of Government Ethics provides overall leadership and oversight of the executive branch ethics program designed to prevent and resolve conflicts of interest. The Overarching Rules of Ethical Conduct In addition to the above 14 rules of conduct for executive branch employees, Congress, on June 27, 1980, unanimously passed a law establishing the followinggeneral Code of Ethics for Government Service. Signed by President Jimmy Carter on July 3, 1980, Public Law 96-303 requires that, â€Å"Any person in Government service should:† Put loyalty to the highest moral principles and to country above loyalty to persons, party, or Government department.Uphold the Constitution, laws, and regulations of the United States and of all governments therein and never be a party to their evasion.Give a full days labor for a full days pay; giving earnest effort and best thought to the performance of duties.Seek to find and employ more efficient and economical ways of getting tasks accomplished.Never discriminate unfairly by the dispensing of special favors or privileges to anyone, whether for remuneration or not; and never accept, for himself or herself or for family members, favors or benefits under circumstances which might be construed by reasonable persons as influencing the performance of governmental duties.Make no private promises of any kind binding upon the duties of the office, since a Government employee has no private word which can be binding on public duty.Engage in no business with the Government, either directl y or indirectly, which is inconsistent with the conscientious performance of governmental duties. Never use any information gained confidentially in the performance of governmental duties as a means of making private profit.Expose corruption wherever discovered.Uphold these principles, ever conscious that public office is a public trust. Is There a Presidential Code of Ethics? While the elected members of Congress have chosen to adopt their own code of ethics, the President of the United States, as an elected rather than hired or appointed representatives of the people, is not subject to any specific statute or rule governing his or her ethical conduct. While they are subject to civil suit and criminal prosecution for violations of common laws, presidents are generally immune from punishment for conduct related to their official acts. In other words, presidents are generally free to lie or misrepresent facts, as long as they do not intentionally defame any specific person or persons in doing so. In fact, the only the only practical remedies to unethical conduct on the part of the president are the constant vigilance of a well-informed public, congressional oversight, and ultimately the threat of impeachment for â€Å"high crimes and misdemeanors.†

Hr1 Essay Example | Topics and Well Written Essays - 4500 words

Hr1 - Essay Example Explain the Purpose of Human Resource Management Policies in Organisations 16 3.2. Analysing the Impact of Regulatory Requirements on HRM Policies of Millennium Hotels 18 3.2.1. Positive Impacts of Regulatory Requirements on HRM Policies 18 3.2.2. Negative Impacts of Regulatory Requirements on HRM Policies 19 Task 4 20 4.0. Examining Human Resource Management in an Organisation 20 4.1. Analysing the Impact of Organisational Structure and Culture on HRM 20 4.2. Impact of Culture on HRM 21 4.3. Effectiveness of HRM on Monitoring Organisational Performance 22 4.4. Recommending Steps towards Improving HR Functions 23 Conclusion 24 References 26 Introduction The organisations in the present competitive business environment seek to increase their capability of managing and controlling the performance of their workforce for the purpose of competing with their major rivals and accomplishing superior competitive position. In this similar context, the idea concerning Human Resource Management (HRM) of different organisations play a fundamental role towards strengthening the optimal performance of the workforce and enabling the organisations to gain overall business or operational efficiency in this composite business environment. The conception of HRM considerably ensures to provide adequate potential synergy in order to empower the substantial growth of a particular organisation. Moreover, the concept of HRM can also be considered as one of the major influencing factors of an organisation which facilitates to enjoy adequate capability of increasing the performance of the workforce and attaining the desired objectives of the organisations (SAGE Publications, n.d.). In the context of Strategic Human Resource Management (SHRM), the thought i.e. HRM can be regarded as a holistic approach which ensures to align human resource (HR) related functions of an organisation with its strategic objectives. The primary objective of SHRM implies the practice of identifying the key area s of HRM and developing effective strategy to meet the ultimate organisational goals and objectives (Salaman & et. al., 2005). With this concern, the primary objective of this report is to understand the contribution of SHRM in Millennium Hotels towards the attainment of its desired business objectives. Additionally, the discussion would further identify and analyse the major factors that underpins the need of an adequate HRM plan for Millennium Hotels. Furthermore, the purpose of HRM policies and their potential impacts will also be analysed in accordance with the HRM policies of Millennium Hotels. At last, the report will be concluded through analysing the impact of organisational structure and culture in the HRM practices and examining the efficiency of HRM in Millennium Hotels. Task 1 1.1. Significance of Strategic Human Resource Management (SHRM) Functions The practice of SHRM can be observed as the approach of preserving effective interrelation between the organisational strat egic decisions and overall HRM strategies. It intends to build a paramount approach for an organisation on achieving a greater degree of managing capability to efficiently attain its predetermined business goals (Gratton & Truss, 2003). In the context of Millennium Hotels, the approach i.e. SHRM can be viewed as one of the major attributes behind the continuous success of the organisation in the global hospitality industry. In relation to the fiercely growing competitiveness in the modern business

Poverty Essay Example | Topics and Well Written Essays - 750 words - 5

Poverty - Essay Example Being in a different position however blurs the audience that cannot perceive what poverty means. Class also plays a significant role in the essay as the narrator uses possession to define poverty. Whether social or economic class, people in a given class are characterized by possession that members of lower classes may not afford comfortably and the narrator uses inability to afford underwear to communicate the article’s theme of poverty. She associates herself with a poor class that cannot afford the type of cloth and explains this to the audience as an approach to explaining her poverty. The concept of class is similarly significant to the essay’s theme because it established difference in leaving standards towards definition of poverty. People in higher classes, whether social or economic, considers a lot of factors in life such as sanitation and the narrator uses this by identifying her poor condition of being dirty and having odors. The narrator’s use of th ese class-based factors communicates the significance of class as the essay’s theme of poverty (Nazario, Borchers and Lewis 323). Significance of class in the essay extends beyond developing a basis for defining the core theme, poverty, and facilitates understanding of reasons for persistence of poverty in the society. ... Using this concept, the narrator explains that poor people wake up in their same state daily, a condition that is not healthy. He further notes that this condition is permanent and this identifies the concept of immobility across social classes. Significance of class in the essay is also identifiable from the narrator’s perception of the reasons for persistence of poverty among some classes in the society. While the poor class does not like the condition, despite accepting it as part of their lives, tools to eradicating poverty are not accessible to them. Further, the tools are available among other classes but members of these classes are not keen to use these tools or aid their application by members of the poor classes. The narrator also associate the tools with economic resources such as money that are more limited among members of poor classes that other members of the society. In this application, the essay identifies the importance of class in sustaining existence of po verty in the society (Nazario, Borchers and Lewis 323). The concept of class also plays a significant role in the essay’s identification of the position of the poor in the society. Class identifies inferiority of the poor who lacks a voice to speak for them and ability to satisfy their needs as members of other classes would. Based on the concept of the type of life that people have adapted in different classes, the narrator identifies the type of food that she, and supposedly other members of her poor class, consumes with a medical complication and this means that the complication is limited to poor people who cannot afford high standard diets. Class also determines the type of treatment that people receive in the society. The rich are able to argue and discuss

How Not Getting Enough Sleep Affects Your Body Essay Example for Free

How Not Getting Enough Sleep Affects Your Body Essay It is extremely important for people to understand how lack of rest affects the body so that they will be more aware of the effects of not getting enough sleep every night. A lack of sleep can cause loss of brain function, and even death if continued for a long period of time. The effects of a consistent lack of sleep can be very dangerous to the person and others around them. The longer the person goes without sleep, the worse the effects will be until the person passes out and becomes hospitalized or has a fatal accident. A lack of sleep affects different parts of the body in more than one way and in different degrees depending on how long the person has gone without sleep. The largest effects of lack of sleep on the body can be seen on the brain of the individual. Going without sleep for a 24 hour period can result in the person exhibiting behavior resembling drunkenness, with studies showing that people in this condition are more dangerous when driving than people that are legally drunk. People that are suffering from lack of sleep can experience memory lapses, decreased concentration, and hallucinations. As this continues, the person can experience depersonalization where they do not believe that they or any of the people around them are real, almost ass they feel they are living in a dream. Psychotic episodes may also appear in the person which may or may not disappear after the person has returned to a normal sleeping schedule. A lack of sleep does not only affect the brain, but affects money other areas throughout the body as well, People that have gone without proper amount of sleep for a long amount of time can experience muscle fatigue, a weakened immune system, blurred vision, headaches, and nausea. Other effects such as muscle tremors, color blindness, hyperactivity, and weight loss or gain may occur. Lack of sleep has been linked to many different health conditions including hypertension, diabetes, heart disease, and many different mental conditions. In most cases, returning to normal sleep each night can stop these conditions but in some cases, the damage is irreversible. There are many ways that a lack of sleep can affect the body and each of the consequences of not getting enough rest can be dangerous to the person health and well being. Washington

Labor Supply Responses to Taxes and Transfer Payments Essay -- America

A good understanding of labor supply reactions to tax and transfer policies is necessary for achieving related policy goals. Income support programs intend to alleviate poverty and create a more equitable society. However, the reaction of the labor supply can derail the intended results and need to be carefully evaluated for effective policy. Economic theory suggests that as taxes and transfer payments increase, the amount of hours and/or number of employees will decrease (Borjas 2005). The exception is transfer payments with work requirements, where the labor supply moves in the same direction as benefits. In the labor market, individuals have two basic choices: how many hours to work (intensive), and whether or not to work at all (extensive). If the labor supply has largely intensive reactions, certain types of programs, such as food stamps, are most effective, when EITC type programs are more effective for extensive reactions. Government tax and transfer policies affect the labor supply because when the real wage changes the labor supply reacts. This paper will look at the response of the U.S. labor supply to changes in taxes and transfer payments. It will determine if the response is concentrated towards intensive or extensive margins and observe the direction and magnitude of the changes. Understanding labor supply responses is crucial for governments desiring to reach intended policy goals. Labor market behavior can have significant long run effects on potential output. According to the Congressional Budget Office, the size and quality of the labor force, capital stock, and the efficiency of production, determine a country’s potential output. When policies influence relevant factors, such as the size of the labor force, the... ...e to participate at a paid wage lower than they would typically require. More people working expands the tax base while reducing the amount of transferred income. The government is able to collect more revenue and still provide a guaranteed income level. (Dickert et al.1995; Browning 1995). EITC type programs can help the government achieve its objectives with minimal negative effects to the economy. Not all labor markets have identical sizes or types of responses to government decisions. The direction and magnitude of each response will inform policy makers about optimal decisions. Section II of this paper reviews the empirical literature on tax and transfer policies and the labor market. Section III discusses the methodology. Section IV summarizes the results of this study. Section V presents the conclusion as well as identifies areas for further research.

Multicultural and ethnic sensitivity

Paper should discuss multicultural and ethnic sensitive an individual might encounter or face in working in Human Service Agencies. Nowadays people are inseparable from the economic, social, political and historical context. It is very important to comprehend the impact of this on the individuals` conduct. The word â€Å"multicultural† can be defined as interplay between the individuals that represent different minor racial and ethnic groups. We should understand the factors that call forth the attitude to the people from different groups. At this there is a tendency to overstate the differences between groups and conformity inside a particular group as well as the trend to support one group more than the other and can be done thoughtlessly. (G.Ramsey, R.Williams & Vold, 2002) People within one group show more value and trust, better cooperation contrary to competition. When affiliation is strong they show a lot of prejudice. If one group is more powerful than the other one or if resources are not distributed justly it may cause problematic issues. This is what is going on in the United States. (G.Ramsey, R.Williams & Vold, 2002) Such prejudice and viewpoints may cause miscommunication as behavior that corresponds to norm in one group may not be realized or valued by another group. For instance, when one addresses clients by their first name can be admissible for the ones, but can be totally unacceptable by the other minor racial or ethnic group representatives that are used to more proper relations. (G.Ramsey, R.Williams & Vold, 2002) It is said that we could see improvements of the relations within group if affiliation is amended. This can be attained if those who would like to make relationships inside the group better use a â€Å"color-blind† approach while interacting with individuals from other minor groups and differ from them. This may decrease racial or ethnic differences and an accent is made on the global or human slants of behavior. (G.Ramsey, R.Williams & Vold, 2002) In essence the rightful relations between groups can not be achieved only by color-blind approach. From all evidence this kind of approach is not as accurate as multicultural one. But even if we realize every point of individual’s ethnic and racial context this is not enough to get efficacy unless we treat people with the global view. Such a global view is useful to touch on relations between the different groups. (Grant & Lei, 2001) One could treat the client or any other individual in a various ways and this could cause the problems in communication process or could even result in a hasty break of relationship. (Grant & Lei, 2001) The existing works on characterization in the society consider the interaction between the groups within a cultural context and emboldens the comprehension of different factors that have an impact on how we perceive others. (Grant & Lei, 2001) It is very important for everybody to have multicultural awareness and knowledge along with skills. (Grant & Lei, 2001) It is said that in order to reduce the attitude full with stereotypes one should have knowledge of the attitudes and values, The research on reducing stereotypic attitudes and biases suggest a number of Strategies awareness of those attitudes and values, make reasonable efforts for changing the auspicious attitude within group that is shown automatically and reduce the negative perceive of people that represent another ethnic and racial groups. (Grant & Lei, 2001) It is necessary to treat individual as individual and do not divide people into groups. Numerous researches were made in order to help people to decrease prejudice of the members of other groups as if we will be close to those groups and establish contact with their members this will definitely result in a better multicultural interaction and will break the stereotypes. (Shepard, 1994) It is of vital importance to comprehend better and value the outlook of the other groups` members and understand the prospects they have even if they are racially or ethnically different. When you understand the outlook that the client has, including the feeling that he might have being a member of disgraced group, it will help you to realize the prospects he or she might have and eventually the behavior of your client.   (Shepard, 1994) Depending on the outlook and life experience customers may behave in a different ways. They might seek for support in social networks, treatment and persistency in treatment. If you get the sufficient knowledge and will realize the cultural context of the clients you can address this problem. (Walsh, 1996) More over it is recommended to learn the process of historical development and study the history of the United States with the object to its difference form another major social groups` history. We had many examples in the past history like American Indian holocaust, concentration camps in Asia, Latino groups colonization and all this had an impact on the history development and outlook of the individuals. (Shepard, 1994) Any relations between individuals can be considered to be multicultural. One should also gain knowledge on the federal legislation in order to increase susceptibility and to understand the things deeper. In the United States there are major demographic shifts. There are a great number of immigrants from different countries such as China, Mexico, India, the Philippines, Latin America. These people speak their native languages at home while they speak English in their social life. One should be aware of the social environment and how the clients will find it, for instance to offer phone line services in a couple of languages, to offer press in different languages in the waiting rooms and use another methods to show linguistic and cultural susceptibility. (Shepard, 1994) Anyway everyone should show cultural competence while delivering services to the clients. References G.Ramsey, P., R.Williams, L., & Vold, E. B. (2002). Multicultural Education: A Sourcebook. New York: RoutledgeFalmer. Retrieved May 21, 2007, Grant, C. A. & Lei, J. L. (Eds.). (2001). Global Constructions of Multicultural Education: Theories and Realities. Mahwah, NJ: Lawrence Erlbaum Associates. Shepard, K. B. (1994, February). ACA, PERF Develop Training on Multicultural Awareness. Corrections Today, 56, 94+. Retrieved May 21, 2007, Walsh, C. E. (Ed.). (1996). Education Reform and Social Change: Multicultural Voices, Struggles, and Visions. Mahwah, NJ: Lawrence Erlbaum Associates. Retrieved May 21, 2007,               

Business ethics in different countries Essay

A Code of Ethics is a business or an organization’s policy applicable to all its activities and relationships. It should identify principal responsibilities its stockholders, shareholders, employees and communities. Its main function is to provide guidance in cases of moral dilemmas. Many corporations have implemented codes of conduct that define unacceptable behavior and serve as a guideline for the practice of ethical conduct. This is a step in the right direction, but it is not enough for an organization merely to have written codes of ethics. Many business organizations are also  taking a more proactive position in the area of promoting the practice of ethical behavior. To reinforce the organization’s values and standards, ethics training programs should be held on a regular basis rather than being a one-shot deal. Business ethics should be practiced in every country around the world. The United States, Hong Kong and Russia are several countries that will be menti oned that practice business ethics. In The United States, business ethics is a topic that businesses are becoming more aware of. An article in USA Today Magazine in January 1998,states, â€Å"Companies are discovering the value of ethics†. The discussion of ethics in the business world goes hand and hand with the term, profit. It was thought that the more ethical a business is, the less profitable it is; the more profitable, the less ethical. In recent times, there is a positive relation between ethics and profit. Ethics serves as a foundation for the success of businesses. An ethical company provides a moneymaking opportunity and can be the source of a competitive advantage. Employee and customer theft is a major problem for businesses, as a shrinking on the job and declining work ethic. A culture in which drug abuse certainly does not help minimize the problem of theft, businesses are ultimately forced to administer drug-screening tests. The expenses for the drug tests incur great costs for the businesses. Employees with the right values would not need to take the drug testing, thus the company would save money. Consequently, employers will try to hire employees who statistically are more likely to be honest. Ethical behavior is like a virtuous cycle between the customers, employees, and suppliers. As a company builds trust, customers, employees and suppliers are less likely to act immorally. Another benefit of ethical behavior is that it provides a solution to what theorists call â€Å"collective action problems†. A way to tackle the problem is to provide incentive so that the cost-benefit ratio is reversed. In certain situations, production of goods or services requires a team effort so that the individual contribution of each team member cannot be isolated or measured. Any team member who acts in a purely self-interested manner would free ride off the others. The benefits of group activity are optimized only when free riding does not take place. When team members or work associates are bounded  by trust and respect a common value will be present. Another benefit of ethical behavior is that it preserves the social capital that makes a free market possible. A market coexists with many other institutions in society, including: the family, the church, and the political, criminal justice, and educational systems. Each of these institutions contributes toward making capitalism possible: The court system enforces contracts; the political system provides monetary stability; and the educational system trains future employees and prepares them for the workforce. Corporate misconduct raises the cost and reduces the amount of social capital. The more businesspeople try to avoid the terms of their agreement, the greater the number of disputes that end up in court. Increased government activity adds to the cost of government. A market system needs moral capital as well. If capitalism is to be successful, there must be a widespread acceptance of certain moral norms, such as truth telling, and fair play. â€Å"As more and more people abandon these moral forms, the social capital that makes market activity possible, is depleted†, as stated by Norman Bowie. Bowie also states, â€Å"America is obsessed with quarterly reports -one that forces managers to focus on the short run, rather than the long run.† If corporations took the moral point of view, they would focus on meeting the needs of their stakeholders and focus on providing secure work for their employees and quality products for customers. If this were done, profits would follow. American capital differs from the capitalism in other countries. Ethical behavior can lower costs, increase productivity, and preserve the social capital that makes capitalism possible. It is in the nations’ interest to ensure that American capitalism is a leader in ethics as well as in product development. To help promote mutual understanding between the people of Hong Kong and foreign countries, as well as the development of business relationship, several major foreign countries have established their own chamber of commerce. â€Å"More recently, the ICAC and six chambers of commerce joined hands to boost corporate education as a way of increasing awareness of ethics in business.† The result was the founding of the Hong Kong Ethics Development Center in 1994. Among those foreign chambers of commerce, the American Chamber of Commerce has been playing an active role in promoting worker welfare and safety, and business ethics. The American Chamber of Commerce was an active participant in the establishment of the Hong Kong Ethics Development Center. â€Å"The American Chamber of Commerce is the only foreign chamber of commerce which incorporates the codes of conduct as part of their position paper.† Although the basis brief of Hong Kong Independent Commissions Against Corruption (ICAC) is to fight corruption, it also helps firms devise codes of ethics. To those international firms with an attempt to set up their Codes of Conduct in Hong Kong, the ICAC provides some advice regarding the basic concepts and contents. Honesty, integrity and social responsibility must be included in the Codes of Conduct. A study surveyed 197 second-year students who attended an international business course in an institution in Hong Kong, both at the beginning and the end of the term. Active learning about business ethics displayed significant effects on later ethical reasoning and judgment. A proactive finding is that business students learned business ethics to a lesser extent than did other students. The relative ignorance of business students needs special concern for enhancing their awareness of business ethics. Although female students were significantly more ethical in exhibiting judgments than male students, they learned about business ethics to a lesser extent. Female students should be of particular concern for promoting their ethical development through business ethics education. â€Å"Known as an amoral society, Hong Kong tends to be at risk for problems of business ethics.† â€Å"A study found that business students in Hong Kong were less ethical toward customers than Taiwanese and Japanese counterparts.† With the help of The American Chamber of Commerce and the Hong Kong Ethics Development Center, the people of Hong Kong will be on their way to succeed in becoming a more ethical nation. Perhaps, the surveys taken in the future will show outstanding results from Hong Kong’s ethical improvements. The Hong Kong Institute of Land Administration has established their own code of ethics, which have twelve guidelines, which are as follows: 1.This Code is meant to ensure the professional competence and integrity of all members in providing their services to the client or the general public. 2.Members should devote their utmost effort to become competent by qualification and experience to perform services, which they are appointed to take. Furthermore, they have to constantly update and upgrade themselves in new developments, law and technologies to cope with the changing demand, practice and procedures, and Government policies. 3.Members have a duty to contribute towards the improvement of professional standards and the training of their staff as well as any other people interested in the profession through career development, lectures or running courses, etc. 4.Members shall endeavor to co-operate with other professionals, disciplines and individuals so as to achieve optimum results in respect of their tasks and assignments. 5.Members should not take part in any business, malpractice or any act of misbehavior, which may cause an adverse effect on, or damage to the public image and reputation of the Institute. 6.Members should not get involved in any suspected or known illegal dealings especially in connection with their profession or duties. They have the obligation to uphold justice in land administration and in providing their professional services. 7.In the event of any controversies occurred between members of the Institute, the respective Committees of the Council, or the full Council of the Institute should settle them either between themselves or without involving any non-member third party, outside bodies or the public media to safeguard the professional reputation of the Institute. 8.Members should not publicly criticize their fellow members of the Institute without the explicit consent given and in a manner approved by the Chairman in Council Meeting. 9.No member shall injure falsely or maliciously, directly or indirectly, the reputation, prospects or business of other members. 10.Any member charged under the prevailing laws of the Hong Kong Special Administrative Region (HKSAR) in connection with his/her professional activities or duties whether or not involving the Institute shall report the occurrence forthwith to the Institute. 11.Members must disclose to their employers or clients any personal or conflicting interest involved in the course of performing their duties or assignment. This also covers any benefit gained from a third party even not in breach of their professional responsibilities. If they are acting for their company, then any conflicting interest with other client(s) shall be disclosed to the client. 12.Members must protect the privacy of any data provided by or belonging to their clients for the sake of professional integrity as well as compliance with the relevant legislation of the HKSAR. â€Å"Internally, a Code of Ethics conveys to all staff a clear idea of the accepted conduct for achieving business goals.† It also helps maintain consistent standards of behavior throughout the company. Externally, the Code of Conduct enhances a company’s reputation for fair and responsible dealing. â€Å"It also strengthens Hong Kong’s reputation as an international business center where honesty and fair play prevails.† An effective Code of Conduct reduces costs and enhances profits because: it reduces incidents of corruption fraud and other malpractices, it reduces conflict if interests situations, it enhances the trust of your customers, suppliers and contractors. It enhances the credibility of your buyers and salespersons; it enhances the loyalty and goodwill of your employees and other stakeholders.  Individual companies as well as the Hong Kong business community continue to enjoy a reputation of honesty and fair play. Another country that is practicing business ethics is Russia. Although many people still view Russia as a corrupt country it is trying to modernize in the business world as compared to Hong Kong and the United States. Corruption has become a way of life for Government officials in Russia. Bribe taking, in fact, is a widespread practice throughout the Russian bureaucracy. A number of U.S. and other Western businesses and businessmen routinely pay bribes to Russian Government officials in order to conduct their businesses in Russia. â€Å"Indeed, the most prevalent crime in Russia today is bribery†. â€Å"Of those charged with bribery and corruption in Russia in 1993, over forty-two percent were Government officials and over twenty-five percent were law enforcement officers†. Not only do Russian officials routinely accept and even demand bribes, they have also entered into an illicit partnership with organized crime and with clandestine business groups. â€Å"Former Communist apparatchiks, who continue to work within the Russian bureaucracy, exploit previously made black-marketers relationships to profit in the new post-Revolutionary Russian system.† Not only does the Mafia kill and steal in Russia, it does so in the United States as well. â€Å"The Russian Mafia is increasingly engaged in crime in the West.† Mafia members are involved in â€Å"theft, extortion, money-laundering, gun-trafficking, drug running, prostitution, smuggling, loan sharking, contract killing and more. The U.S. Department of Justice (DOJ) has established task forces to deal with the Russian Mafia in New York, Los Angeles, and Miami. Thus, U.S. businesses that pay bribes and protection money in Russia may be unintentionally financing Russian criminal activity back in the United States. â€Å"Bribe-taking is standard practice among Russian Government officials, a fact of which the Yeltsin Administration is well aware.† In 1994, the Yeltsin Government reported that seventy to eighty percent of private businesses were paying extortion money to organized criminal gangs. Eighty percent of all U.S. businesses in Russia have bribed a Russian government official at least once. It is not uncommon for businesses in Russia to employ assassins in the collection of business  debts. † In 1993, organized crime controlled forty percent of the turnover in goods and services in Russia, according to the Russian Ministry of Internal Affairs.† Moreover, the growth of organized crime has severely hampered the growth of private small businesses in the Country. The success of Russian democracy represents a fundamental pillar of U.S. foreign policy. The U.S. Government spends millions of U.S. tax dollars to promote democratic and market, economic reforms in Russia. Meanwhile, U.S. businesses and businessmen who pay bribes to Russian Government officials may be unwitting supporters of organized crime in Russia. More importantly, bribery of Russian Government officials undercuts efforts to create an open and democratic government in Russia. On the brighter side the Russian Government is taking action to control the ethical standards of the country. On November 8, 2000, the first Center for Business Ethics (CBE) in Russia was officially registered in St. Petersburg. The new Center evolved out of the private sector voluntary initiative, the â€Å"Declaration of Integrity in Business Conduct in St. Petersburg†, supported by over 130 leading companies in the community. â€Å"The Center for Business Ethics has two founding partners: a US company â€Å"Sovereign Ventures, Inc.† and a Russian firm â€Å"Bronze Lion†. The main counterpart of CBE is the Ethics Resource Center (ERC), headquartered in Washington DC, with over 50 years experience specializing in consulting businesses on corporate culture.† The mission of the newborn organization is to institutionalize ethical business in St. Petersburg. CBE provides an anti-corruption toolbox for businesses from ever industry operating in the region. Members of the new Center can obtain the following services: assistance in development a company’s code of conduct, advice on the effective ways of repudiation of bribery, hints on fair tax payment, development of ethics training programs for employees, publicity for ethical leadership, raising issues connected with business ethics a given industry branch. They can also network with other ethical businesses and thereby find natural partners for growth. â€Å"The Center for Business Ethics is a response to demand from local and  government business leaders who founded the â€Å"Declaration of Integrity† for a non-profit organization that could sustain a variety of new programs designed to create a culture of ethics compliance in St. Petersburg.† – says Matthew Murray, President of â€Å"Sovereign Ventures, Inc.†, who will also serve as the first President of the Board of CBE. The team of business ethics experts working for the Center consists of several Russian attorneys, a senior accountant and a journalist. They have been professionally trained by in the US at the Ethics Resource Center or other organizations in international practices of business ethics. The 6 experts include: Anna Ossipova (director), Anton Andreyev (ethics consultant), Elena Fedyushina (ethics consultant), Alina Mitzkevich (ethics consultant), Natalya Clark (PR manager), Oksana Trofimova (senior accountant). The first project launched by the Center for Business Ethics is an â€Å"Island of Integrity† designed to promote open tenders in the construction business and attract further investment to St. Petersburg. â€Å"It has been less than one week since our Center was opened, and the Open Society (Soros) Foundation has offered CBE a grant for the â€Å"Island of Integrity†. – Announced Anna Ossipova, Director of CBE- â€Å"It shows that the momentum behind voluntary initiatives to undertake honest business is growing†. The Saint Petersburg Ethics Center proposed the development of the St. Petersburg Ethics Center (SPEC). The organization’s mission will be to help cultivate the social capital or core values. SPEC will create the institutional framework to ensure sustainability of business ethics initiatives in the city. It will locally develop and retain important skills and capacities. The organization will serve as the legal framework to raise local and international funds in support of its programs. It will become a resource for the community at large, and the champion of the ethics dialogue in St. Petersburg. Specifically, SPEC will initially undertake a variety of proactive business ethics and anti-corruption initiatives and programs such as: Promoting the declaration of integrity; providing training, education and technical assistance; fostering dialogue about ethics education at the university and professional levels; assisting professional and trade  associations to develop codes of conduct, ethics programs and enforcement infrastructure for their membership. Other programs include: increasing awareness about corruption and the strategies to fight it; identifying concrete steps to encourage public-sector reform and conduct research and generate new learning. â€Å"The new learning generated through these activities will then inform the work of SPEC through the creation of culturally relevant approaches and strategies for the other programs of the organization.† Government corruption in Russia is a historical burden on economic and political modernization. Russia must find its own path to root out corruption, using the multitude of positive values and ethical traditions found in Russian culture. They are beginning a long-term process to integrate their strong moral traditions with international standards of business ethics. The present project is designed to sustain these accomplishments by developing and launching SPEC to institutionalize ethical business practices between businesses and government officials in ST. Petersburg and other regions of Russia. 1 Shrinking occurs when an employee or customer steals from a company in which they work or shop, and the outcome is less profit and shortage in inventory. 2 A Collective action problem occurs when an obvious public good cannot be achieved because it is not in the self-interest of any individual who is part of the problem to take steps to resolve it. 3In Hong Kong, there are the American Chamber of Commerce, the Australian Chamber of Commerce, the British Chamber of Commerce, and the Canadian Chamber of Commerce. 4According to an article â€Å"International Business Ethics: Hong Kong from Joseph M. Katz Graduate School of Business 5 According to an article â€Å"International Business Ethics: Hong Kong from  Joseph M. Katz Graduate School of Business 6 College Student Journal. December 1999.  © 1999 Project Innovation (Alabama) 7 College Student Journal, December 1999. In Ikels, C 1989. Becoming a human being in theory and practice: Chinese views of human development. In D.I. Kertzer & K.W. Schaie (Eds.), Age Structuring in comparative perspective (pp.109-134). Hillsdale, NJ: Lawrence Erlbaum 8College Student Journal, December 1999. In Nyaw, M.K., & Ng, I. (1994). A Comparative Analysis of Ethical Beliefs: A Four Country Study. Journal of Business Ethics, 13, 543-555. As stated in Corporate Code of Conduct As stated in Corporate Code of Conduct To Whom Belongs Power in Russia? Ministry of Thieves-in-Law: An Attempt at Breaking into Politics, Izvestia, July 20, 1994, at 1, 5 [hereinafter Izvestia]. George Nikides, Journalists Hit TV Mafiya, Moscow Times, Oct. 5, 1994, at 10. While virtually all activities were controlled by the Government in the former Soviet Union, there are now a large number of government officials working in what is now the private sector. Id. As the Author notes: See To Whom Belongs Power in Russia?, supra note 4, at 1, 5; Money Talks, supra note 8, at 10. Stephen Handleman, Comrade Criminal 55-56 (1995). Daniel Klaidman, How To Police an Ex-Police State, Legal Times, July 11, 1994, at 12. Leonid Bershidsky, Aids Say State Loans Still Open to Bribery, Moscow Times, July 13, 1994, at 1-2. Officials in the Yeltsin Administration admitted that bribes often determine who and what organizations get government loans and  assistance. Id. U.S. Business and the Russian Mob As stated in Defense Industry Initiative on business ethics and conduct As stated in the Ethics Resource Center

Contrast Horses essays

Contrast Horses essays Horses have been an important and influential part of North American and European history. In his book, Ecological Imperialism: The Biological Expansion of Europe, Alfred W. Crosby argues that horses helped to bring about European's successful colonization of a number of temperate regions such as North America, Australia, New Zealand, and some parts of South America. He argues that the profound success of horses in these regions resulted from the filling of an empty biological niche, and that the arrival of horses on the plains in North America resulted in profound changes in the lives of North American Indians. In his article, The Rise and Fall of Plains Indian Horse Cultures, Pekka Hmlinen argues that the common view that horses brought success to Native Americans is fundamentally oversimplified. He suggests that the common focus on only the successful incorporation of horses by the Lakota people has distorted modern understanding of plains history, and obscures the damaging impact of the arrival of horses on native American culture and ecology. In Ecological Imperialism: The Biological Expansion of Europe, Crosby argues biology played a large part in the fact that Europeans displaced the native people of many temperate zones in the world (including North America, New Zealand, temperate South America and Australia). While the success of European imperialism is commonly thought to stem from military might, and advanced technologies, it can be better explained by other factors, notes Crosby. Essentially, Crosby argues that the native biology of these conquered temperate places (including humans) was not equipped to deal with European invaders. European diseases like smallpox decimated native populations, and European weeds and agriculture brought large scale Overall, the animals, weeds, and diseases that Europeans brought to the New Wor...

The Legacy of Darwins On the Origin of Species

The Legacy of Darwins On the Origin of Species Charles Darwin published On the Origin of Species on November 24, 1859 and forever changed the way humans think about science. Its not an exaggeration to say that Darwins landmark work became one of the most influential books in history. Decades earlier, the British naturalist and scholar had spent five years sailing around the world aboard a research ship, H.M.S. Beagle. After returning to England, Darwin spent years in quiet study, examining plant and animal specimens. The ideas he expressed in his classic book in 1859 did not occur to him as sudden bursts of inspiration, but were developed over a period of decades. Research Led Darwin to Write At the end of the Beagle voyage, Darwin arrived back in England on October 2, 1836. After greeting friends and family he distributed to scholarly colleagues a number of specimens he had collected during the expedition around the world. Consultations with an ornithologist confirmed that Darwin had discovered several species of birds, and the young naturalist became fascinated with the idea that some species seemed to have replaced other species. As Darwin began to realize that species change, he wondered how that happened. The summer after returning to England, in July 1837, Darwin began a new notebook and took to writing down his thoughts on transmutation, or the concept of one species transforming into another. For the next two years Darwin essentially argued with himself in his notebook, testing out ideas. Malthus Inspired Charles Darwin In October 1838 Darwin re-read Essay on the Principle of Population, an influential text by the British philosopher Thomas Malthus. The idea advanced by Malthus, that society contains a struggle for existence, struck a chord with Darwin. Malthus had been writing about people struggling to survive in the economic competition of the emerging modern world. But it inspired Darwin to begin thinking of species of animals and their own struggles for survival. The idea of survival of the fittest began to take hold. By the spring of 1840, Darwin had come up with the phrase natural selection, as he wrote it in the margin of a book on horse breeding he was reading at the time. In the early 1840s, Darwin had essentially worked out his theory of natural selection, which holds that organisms best suited to their environment tend to survive and reproduce, and thus become dominant. Darwin began writing an extended work on the subject, which he likened to a pencil sketch and which is now known to scholars as the Sketch. The Delay in Publishing On the Origin of Species It is conceivable that Darwin could have published his landmark book in the 1840s, yet he did not. Scholars have long speculated on the reasons for the delay, but it seems that its simply because Darwin kept amassing information he could use to present a lengthy and well-reasoned argument. By the mid-1850s Darwin began working on a major project  that would incorporate his research and insights. Another biologist, Alfred Russel Wallace, was working in the same general field, and he and Darwin were aware of each other. In June 1858 Darwin opened a package sent to him by Wallace, and found a copy of a book Wallace had been writing. Inspired in part by the competition from Wallace, Darwin resolved to push ahead and publish his own book. He realized he could not include all his research, and his original title for his work in progress referred to it as an abstract. Darwins Landmark Book Published in November 1859 Darwin finished a manuscript, and his book, titled On the Origin of Species by Means of Natural Selection, or the Preservation of Favoured Races In the Struggle for Life, was published in London on November 24, 1859. (Over time, the book became known by the shorter title On the Origin of Species.) The original edition of the book was 490 pages, and had taken Darwin about nine months to write. When he first submitted chapters to his publisher John Murray, in April 1859, Murray had reservations about the book. A friend of the publisher wrote to Darwin and suggested he write something quite different, a book on pigeons. Darwin politely brushed that suggestion aside, and Murray went ahead and published the book Darwin intended to write. On the Origin of Species turned out to be quite a profitable book for its publisher. The initial press run was modest, only 1,250 copies, but those sold out in the first two days of sale. The following month a second edition of 3,000 copies also sold out, and the book continued selling through successive editions for decades. Darwins book generated countless controversies, as it contradicted the biblical account of creation and seemed to be in opposition to religion. Darwin himself remained mostly aloof from the debates and continued his research and writing. He revised On the Origin of Species through six editions, and he also published another book on evolutionary theory, The Descent of Man, in 1871. Darwin also wrote prolifically about cultivating plants. When Darwin died in 1882, he was given a state funeral in Britain and was buried in Westminster Abbey, near the grave of Isaac Newton. His status as a great scientist had been assured by the publication of On the Origin of Species.

Annotated Biblography Assignment Essay Example | Topics and Well Written Essays - 1000 words

Annotated Biblography Assignment - Essay Example Researchers asserted that the Malaysian government, in its vigorous effort to uphold community health care for mentally ill patients, must also ensure that those who are proving services be formally educated on how to implement integrated mental community-based health care by addressing the need to immerse them with knowledge on the use of traditional multicultural belief systems specially in â€Å"family caregivers, mental health service users and service providers.† With the dearth of mental health facilities especially in rural region of Malaysia, family caregiving for mentally-ill patients became the primary resort amongst significant number of family caregivers. Researchers further argued that notwithstanding numerous scholarly studies on family caregiving services for mental illness under Western medical healthcare practices but these are not sensitive to the eastern culture of Malays. The need to have a sensitive approach on mental health care delivery pose a challenge for healthcare providers in Malaysia and indeed, the multi-dimensional ways of caregiving should be utilized as for both traditional and scientific approaches of healthcare. The researchers likewise asserted that studies should likewise be expanded to include concern to mental health social work practices. Further, it was noted that while the government recognize the role of the family in according responsible healthcare for their members as part of its culture and tradition, but mental illness care require a multidisciplinary approach too to respond to the behaviours of the patient and professional or institutional support should be highly regarded too, especially when patients are in a dire need of professional medical attention. Severely ill patients necessitate not only the traditional or customary way of mental healthcare but also professional support because mental illness is a broad illness which cannot be simply regarded as simply possession of evil spirit or a moral weaknes s of a patient or God’s formidable punitive way for human being’s excessive immersion to sins. There are scientific bases on mental illness and there are also specific medications that can be optimized to normalize the behaviour of a mentally ill person. Medical expert intervention is also necessary to address symptoms, effects, and impacts of mental illness to persons, especially those that have tremendous tendency to inflict harm to self or those that are possessing violent capacities. Psychiatric help is also essential in understanding the sociological context of mental illnesses. Alpar, G., Hoepman, J-H., Siljee, J. (2011). The Identity Crisis: Security, Privacy and Usability issues in Identify Management, Radboud University Nijmegen: The Sentinels, pp, 1-14. This research is focused on the ‘identity crisis’ emerging from â€Å"substantial security, privacy and usability shortcomings encountered in existing systems for identity management (Alpar, Hoep man, & Siljee, 2011, p. 1).† Substantial research is deemed essential to resolve issues arising from the utilization of information technology where

Advertisement in the Far East Economic Review magazine in 1972 Essay

Advertisement in the Far East Economic Review magazine in 1972 - Essay Example This "Advertisement in the â€Å"Far East Economic Review† magazine in 1972" outlines and analyzed the ad which was published in this particular media, its style and strategies. This advertisement uses sexual appeal to attract potential customers to use the airline. The advertisement poem is based entirely on sexuality to attract customers to choose MSA for there are beautiful airhostesses waiting to serve them early in the morning. Not just that, the picture that accompanies the text, shows a very pleasant looking woman standing amidst the passengers who are all men. This too is hinting at some sort of sexual discrimination that the airline seeks to exploit in order to get new customers (Goffman, 1979). Besides the critical sexist outlook of the advertisement, the poetry used in the advertisement is pretty catchy. Small verses are always helpful since the readers get them on their tongues quicker and they can relate to what they read when they are looking for a reliable service or product. The ad by MSA uses short verses, catchy words and sexual attraction to persuade customers to the airline. Although the ad is about attracting all kinds of customers to MSA, the picture depicts a slightly different story. It shows customers who are well suited indicating that MSA would be a great service for professional elites. By doing so, it would attract customers who are at the wealthier side and can afford more airline visits. This is indeed a clever strategy by the airline. That is again a very important aspect in the advertisement.

Fracking Research Paper Example | Topics and Well Written Essays - 1750 words

Fracking - Research Paper Example Any support and activities on fracking is equivalent to sitting on a time bomb and doing nothing about it. It is time for environmentalist to take action and stop fracking activities before the earth is in for irreversible troubles. Fracking and its related activities cause numerous harm to the environment and human beings, in addition to being unethical practice, and thus, it should be stopped. Fracking uses a lot of water, which in most cases is not available at the fracking site. Therefore, the stakeholders involved seek water also used by the community, which leads to depletion of community water sources; depleting water supplies could affect the cost of water for farmers and nearby communities. Transportation of water to the sites is very expensive, and the costs used in this transportation would have been put into better use like supporting the needy in society. Not to forget that clean water is a precious resource and scarce; hence it is very unfair to misuse it for fracking activities (Berkowitz 24). Moreover, transportation of this water uses a lot of energy, which can be put into other useful uses. Furthermore, the tracks for transporting this water release toxic gases into the atmosphere, which pollutes the air and cause environmental degradation. Furthermore, trucks used to transport the fluids cause extensive destruction of roads hence increase in the costs ass ociated with road renovation. The transport trucks are also responsible for noise pollution, not forgetting the large volumes of dusts associated with them. A combination of the above negative effects causes discomfort on the locals around the fracking sites hence in flinching on their rights to clean and healthy environment. Research shows that the chemicals used in fracking have carcinogenic properties; in the event that they escape through accidents or leakages and contaminate ground water, serious health concern arises due to possible

The Ethical and Moral Business Practices of Nestle

The Ethical and Moral Business Practices of Nestle In recent years the issue of ethical and unethical business practices have received lots of attention around the world especially by media. Ethics in business can be defined as behaviours that a business tie to in its daily dealings with the world or in other words what society believes is right or wrong which involves or impact how a business is carried out. Ethical or unethical business practices concerns not only to how the business interacts with the world at large, but also to their one-on-one dealings with individuals. Many businesses are interested in making money, and that is the bottom line or in other words they just want to be in business; on the other hand there are many businesses that making money does not mean everything to them, but doing the right thing and having responsibility and commitment toward society have far more importance. In past years there have been numerous reports from global businesses, including most of the major brands that the public use for their poor business ethics, which have received a huge attention by people around the world. One of the most shocking reports came from a well-known company Nestlà ©. The main ethical issues concerning Nestlà © company was endorsing infant formula with ambiguous and unsafe strategies, using suppliers that violate human rights and promoting harmful food. On the other hand in recent years many companies gained a huge reputation mainly because of their ethical business practices, such as Xerox, Pepsi, Solae and many other well-known companies. Solae Company was positioned as one of the most Worlds Most Ethical Companies in Food Industry in 2010. Solae mostly gained its reputation through its core value which cornerstone of that they are and what they stand for, values such as public safety and health, high ethical behaviour and respect for people. 1.0 Nestlà © S.A 1.1 Nestlà © History Nestlà © S.A is the world largest fast moving customer goods company in the worldwide; Nestlà © was originated, founded and headquartered in Vevey, Switzerland in 1906 by merger of the Anglo-Swiss Milk Company and the Farine Lactà ©e Henri Nestlà © Company. Nestlà © start growing after the First World War following the Second World War by expanding its market from 13 to 86 countries around the world, the company currently has more than 283,000 employees. In 2000 Nestlà © joined the World Coca Foundation (WCF) in order to deal with issues associated by farmers, the WCF goal is to help farmer in earning more income, encouraging them for more efficient farming technique and environmental and social practices (Mcspotlight, 2002). The Nestle Business Principles form the companys culture which has been developed over the period of 140 years. Nestlà ©s Corporate Business Principles are handed out to its 282,000 worker along with training tool in order spread out the companys core values and mission. The Company management is allocated according to its demographic location, along with the exception of Nestle waters and nutrition which are managed by a global department (nestle, 2010). 2.0 Nestlà © Controversy and Criticism In past ten years Nestlà © Company was accused by many of experts and organisations around the world for unethical business practices in the way the company does its business, the company was involved in serious boycotts which ruined the company overall reputation in past years. In this essay we have discussed and analysis some of the most serious Nestlà © unethical business practices (Phdinparenting, 2010). 2.1 Unethical Marketing of Artificial Baby Milk One of the most critical issues that Nestlà © has been criticised for during past 15 years is the promotion of the use of infant formula to mothers across the world. Many believe that Nestlà © strategy for promoting its infant formula was misleading and harmful that violates both International Symbols of Marketing of Breast milk Substitutes and WHO Code amendable the marketing of breast milk substitutes (Mcspotlight, 2002). Nestlà ©s marketing campaign encouraged mothers across the world for bottle feeding instead of breast feeding, they used free sample to pursue this mission in addition Nestlà © implies that malnourished mothers and mothers with twins have not the ability to Breastfeed their child, despite many international health organisations claimed that there is no sufficient evidence to shore up this statement which could put both the mothers and babies life in danger (Corporatewatch, 2003). There have been numerous reports of direct advertisement targeting mothers across the world in countries such as Malaysia, South Africa and Ireland as a result advocacy groups and health organizations accused Nestlà © of unethical methods of promoting its milk and demand the company to immediately stop its marketing strategies (Mcspotlight, 2002). One of the Health organisations that criticised Nestlà © for its marketing strategy was IBFAN which believed Nestlà © is harming misleading mothers by offering them a free sample of milks as they are in hospitals, because as mothers are released from hospitals they have to continually buy Nestlà ©s formula since babies get adapted to the Nestlà ©s milk. IBFAN also maintained that Nestlà © exercise Humanitarian Aid to form markets by offering striking gifts and different sponsorships to influence health officials to market and promote its products by targeting young mothers who have given birth (Corporatewatch, 2003). 2.2 Using Suppliers That Violate Human Rights Another controversy issue faced by the company during past years was using suppliers that violate human rights, in 2009 BBC reported that Nestlà © buy its milk from a farm seized from its white owners which is now owned by the wife of Zimbabwes President Robert Mugabe, they supply between 10% to 15% of Nestlà ©s local milk supply (Corporatewatch, 2003). However the company denies the proclamation and claims that the only reason they purchase their milk supply from its African supplier is to help meet the food needs of Zimbabwean consumers (BBC, 2009). 2.3 Exploiting Farmers In 2001, Nestlà © faced huge criticism for purchasing cocoa from the Ivory Coast and Ghana suppliers, which may have been produced using child slaves. An investigation by BBC showed that hundreds of children who lived in Mali, Burkina and Togo were being purchased from their parents and sent to countries such as Ivory Coast and Ghana to be used in production of coca (BBC, 2001). Most of the children who work in coca farms are ranged between 12 to 14 years old, and are forced to work 80 to 100 hours each week while they are not paid fairly, barely fed and beaten regularly (Corporatewatch, 2003). After the widespread of these reports Nestlà © Company faced huge criticism from health and labour organisations around the world to put a stop to these anti-humanities act, as a result the company did not have any choice except to express its concern over the use of child labour in coca farms to, however the company never confirmed that non of its chocolate products derived from these anti-humanities resources (Mcspotlight, 2002). 2.4 Union Busting In late 2001, labour organisations accused Nestlà © for denying its worker right; one of the countries that most of the accusation came from was Columbia, in which eight worker of the company got assassinated because they were part of food and drink labour union called SINALTRAINAL; however there have been no evidence linked Nestlà © to these assassinations. In another example involving Nestlà © union busting, in 2001 the management of Nestlà © subsidiary Comestibles La Rosa threatened the company worker that they must either renounce their union membership or they should leave the company (Corporatewatch, 2003). 2.5 Promoting Unhealthy Food Nestle was recently criticized after a report by the UK consumers association claiming that 7 out of 13 of the Nestlà ©s breakfast cereals containing the highest level of fat, sugar and salt. In addition the company is accused for denying and ignoring the role of community responsibility in promoting its product to public, however the company has made so many changes in past few years in order to gain back its reputation as healthy food provider but still there are many who critics the company despite all the changes (Corporatewatch, 2003). 2.6 Illegal Extraction of Groundwater The company was also accused for abusing and ruining water resources in Brazil and United State. In the region of Serra da mantiqueira in Brazil which is known for its susceptible groundwater resources, Nestlà ©s over pumping action has resulted in exhaustion and long term damages to the region water resources (Corporatewatch, 2003). Nestlà ©s was accused because people of the Serra da mantiquira believe that the company action has changed the taste of their drinking water and also the over pumping has caused complete dry out on the main region water resources. Nestle used these water resources for producing mineral water called Pure Life (Phdinparenting, 2010). Unfortunately, after analyzing Nestlà ©s corporation act, clearly ethics has no place in the company long term strategy. This fact has greatly influenced companys reputation and has ruined its position in food industries around the world. After the widespread of these reports Nestlà © Company faced huge criticism from health and labour organisations around the world to put a stop to these anti-humanities act, as a result the company did not have any choice except to express its concern over the use of child labour in coca farms to, however the company never confirmed that non of its chocolate products derived from these anti-humanities resources (Mcspo tlight, 2002). 3.0 Solae Company 3.1 Solae History Solae LLC is an international soy supplier which is based in Louis, Missouri. This company is the world leader in developing and producing innovative soy technologies, meat and other nutritional products. The company was founded in 1958 by producing just industrial soy protein products; however Solae started producing other food product (such as baked goods, meats, beverages and nutrition bars) in 1973 after DuPont and Bunge created Solae Company as a joint venture (Solae, 2010). Solar use soybean resources around the world in order to create nutritious and great-tasting ingredients including baked goods, meats, beverages and nutrition bars which are consumed by thousands of customers and consumers in more than 120 countries worldwide. The company has approximately 2,400 employees in different parts of the world as well as North America, Asia, Latin America and Europe (Solae, 2010). Solaes commitment to innovation and development has resulted in production of new soy product tag along by more than 98 patent and 338 patents pending which is more than any other soy provider in the world (Solae, 2010). On 26 of March 2010, Solae Company was identified by the Ethisphere Institute as one of the worlds most ethical companies in food industry. Each year Ethisphere Institute gathers a list of 100 companies which it believes are the most ethical companies in the world. The institute recognise these companies on basis of attitude and future refinement (Ethisphere, 2010). The world most ethical companies are recognize not only making statements about doing business ethically but also translating those statements into action. Solae was ranked among on of the 100 most ethical companies in the world along with giant companies like Pepsi, Nike, Ford, Xerox, Henkel and LOreal in addition the company was positioned at top 5 most ethical companies in food and beverage industry joined by Campbell, Mills and PepsiCo (Ethisphere, 2010). Solaes commitment to environment is one of the core value developed by the company which has allowed the company continually improve and implement main manufacturing process and activities to reduce its impact on Mother Nature, It is believed that Solae track its activities across all manufacturing department in order to replicate successful improvement where it is needed. 4.0 Solae Ethical and Decent Practices Solae ethical and moral practices are inspired by the companys core value which mostly concentrate on what the company is and what it is stand for, Solae top executives believes the strength of the company begins with a deep commitment to ethics from the top to bottom in the company, ethical behaviour is one of the core values at Solae, which is important in both the companys professional and personal lives. According to Solae officials, at Solae ethic codes are designed to make sure that each of the companies personnel are constantly upholds the companys standards and objectives. Any act that deliberately violates the law or regulation to screen non-compliance with this Code of Conducts, or company overall policy is an ethical violates (Solae code of conduct, 2010). 4.1 Safety and Health Solae Company believes that in doing business all occupational illnesses, environmental incidents and injuries are preventable and can be controlled by implementing the right business practices along with providing the best and high quality foods to consumers. The companys overall goal is zero for incidents, meaning that safety and health are the most central aspects of Solae Company in different levels involved in manufacturing and promoting its products (Solae, 2010). Every employee at Solae is responsible for acting in reliance with safety and health law which was developed to prevent any incident involving employees and other Solae personnel. Managements in each department are responsible for training, educating and motivating employees to understand and act accordingly to applicable safety and health laws. 4.2 Sustainable Practices for Society Solae core value of environmental custodiantion is a significant example of the companys commitment for people in different societies. At Solae employees are expected to compete lawfully at all manners, they are also expected to protect the environment and to be a responsible keeper of the company operations, services and products in all levels of the company (Ethisphere, 2010). 4.3 Environmental Practices Since the company was founded, Solae mission has been to be the preferred universal partner in the expansion and delivery of nutritional and efficient solutions for its customers, the Company is constantly committed to promise to conduct business and operations with respect and care for the Mother Nature. Since Solae main business is product of soybean resources, the company pays a great respect and attention to environmental practices which helps to keep our nature green and un harmful. At Solae managers at each corporate level are held responsible for educating, training, motivating and instructing employees to understand the important of Solaes commitment to protect environment in addition each employee at Sola company has the responsibility to meet and fulfil the terms of Health and Environment which were developed to guide each employee in pursuing the companies mission and vision (Solae code of conduct, 2010). Solaes commitment to environment is one of the core value developed by the company which has allowed the company continually improve and implement main manufacturing process and activities to reduce its impact on Mother Nature, It is believed that Solae track its activities across all manufacturing department in order to replicate successful improvement where it is needed. The company has received several awards because of its environmentally friendly business practices around the world. For example: In 2009, the company headquarter in St.Lous was given a Leadership in Energy and Environmental Design Green Building Certificate for having the most energy efficient, greenest and high productive building in the region (Solae, 2010). In 2005, Solae received two awards from different non-profit organisations for reducing total energy consumed by the company by more than 10 percent and decreasing greenhouse emissions by 7.7 produce by the company (Solae, 2010). 4.4 Ethical Competition Law Practices It is believed that, Solae competes forcefully in the marketplace to best supply its customers needs and preferences. Solae Company has gain most of its reputation as a result of its Competition Laws which the company follow in most of the countries that operates, these laws are compound and can vary from country to country depending to its market place competition condition and pressure (Solae code of conduct, 2010). 4.5 Water and Energy Consumption Solae is well known around the world for its efficient water and energy consumption in compare with other companies involved in food industry. The company uses very low water resources in compare with other food manufacturing companies because soy uses less water than other kind of proteins such as meat, milk and eggs. In addition soy is known to be an efficient source of protein based on return amount of energy use in compare with other resources of proteins. C:UsersArmanDesktopvirtuawater.jpg C:UsersArmanDesktopenergyefficiency.jpg USDA; FAO/ UNICEF, USA Protein Advisory Group (2005) As it can be seen beef, pork and chicken consume 5 or 6 times more water than soy products and soy much more efficient source of protein based on return amount of energy use in compare with milk, chicken, eggs and beef. 4.6 Equal Opportunity Non Discrimination Solae Company is strictly against any discrimination regarding any companys personnel or new application who wishes to join the group because of race, sex, age, colour, national origin, marital status, expression or ancestry. According to Solaes core value employees are treated the same despite their position in the company (Solae, 2010). Conclusion To sum up, Core values are particularly critical in these days as we operate in markets around the world and aiming to serve customers with different needs and ideas. Obviously at Solae Company the central attention is to understand responsibilities and obligations toward individuals and environment. As experiment has shown us a companys success is pretty much dependent on ethics and moral which builds a long term reputation for both the company and industry. Unfortunately, after analyzing Nestlà ©s corporation act, clearly ethics has no place in the company long term strategy. This fact has greatly influenced companys reputation and has ruined its position in food industries around the world. As a result the concept of ethics has become one of the most important aspects of management duty. For companies as big and successful as Solae and Nestle training employees to follow ethical and social principles are key success factor and has to be observed and practice continually. Many businesses are interested in making money, and that is the bottom line or in other words they just want to be in business; on the other hand there are many businesses that making money does not mean everything to them, but doing the right thing and having responsibility and commitment toward society have far more importance. Solae has to continue its effort in practicing ethical principles in all company levels and Nestle has to change its long term strategy and pay attention to what is right and wrong.