American Revolution Being a Civil War Essay

To a certain extent it is accurate to call the American Revolution a civil war. The colonists were  under British control at the time, between regions of the same country. It becomes a war between two  nation states.  Within the colonies, Revolutionaries were not only fighting against the British but also with the  Loyalists who still believed and agreed with the king. As Britain being the overall state, it was a war  within their sovereign, but also within their country. But, the American Revolution was the colonists  believing that they had a right to develop their own country and succeed from Britain. During the battle  of Kings mountain one side consisted of Loyalists under British control and serving in their army. The  other side consisted of Patriots who were the overmountain men. Both sides were completely American  but one side supported Britain and the other opposed. The American Revolution was to overthrow  the government and start to create one of their own, which is exactly what is what it was. So although  the American Revolutionary War was between those of the same citizens, like a civil war,  it also falls under the definition of a Revolution. Although some do believe that the Revolutionary War was, just that. But taking into  consideration the fact of the colonies being an actual part of Britain and being a war within Britains  control and their provence, it can be considered a Civil war. So to a certain extent, the Revolutionary  War can be considered a Civil War.

Employment Conditions on Employee Productivity

INTRODUCTIONThe main purpose of devising and improving employee productivity is to increase efficiency, and these results partly form better industrial relations. If people are in suitable jobs, they are more likely to be contended with their work, and this will react favorably on the output directly and will promote co-operative relations. Conducive employment conditions environment stimulates creativity of workers. Non-improvement in work environment and bad working conditions contribute to low productivity of employees because employees lack the motivation to give their individual best towards production.A favourable working condition is one of the most important factors that boost employee productivity, and the level of interaction amongst the employee, employer and the superiors gingers the employees to be either effective or otherwise. According to Likert (1959), the contribution of working conditions to an individual’s job satisfaction varies widely, but generally, it i s considered relatively small. Other things employees complain about include health and safety measures against accident and fire, sanitation and suggestion system. In Nigeria private companies, the plight of workers reflect Fredrick Taylor’s thesis on factory management which states that in the past, the man had been first, in the future the system comes first.Fredrick Taylor says that managers are technically oriented. Greater emphasis is placed on output, higher production and cost savings, no matter the human cost that may be involved in the process of achieving their objectives. For this to be achieved, there must be constant improvement in working conditions which covers claims for higher wages, shorter hours of work, holiday arrangement and pay incentives and bonus e.t.c. Adequate grievance procedure and provision for arbitration over disputes are further safeguarded.Under the 1979 constitution, it is provided that the objectives of the Nigerian states are geared towar ds ensuring that: (a) Health, safety and welfare of all persons in employment are safeguarded and not endangered or abused; b) Conditions of work are just and humane while there are facilities for leisure and for social, religious and cultural life. c) Opportunities are provided for citizen to secure adequate mean of livelihood and suitable employment and d) There are adequate medical and health facilities for all persons.According to Mayedeo and Markak (1962), productivity may be defined as the ratio between the production of a given commodity measured by volume and one more of the corresponding input factor measured by volume. A look at the above definition shows that productivity is made up of labour, raw materials or combination of many factors. It should be however said that productivity of labour has been the main concern. The ratio of output of the factor is the measure of productivity in relation to the particular factor of production.Production = Output of ProductionInput o f Labour P = O/M Where `p’ = Productivity O = Output M = Man hours put inThis research aims at investigating, examining and the analyzing of employment conditions and its effect on employees in an industrial organization on their rate of productivity. Productivity is a vital and major concept to every industrial organization. As a matter of fact, no organization would be able to achieve its goals if the matter of productivity is neglected. It has also been argued that labour aspect is the most vital without which the organization would be far from reaching the desired goals. Even in the committee of nations, productivity is a major tool for development.Productivity took a new dimension with the industrial revolution where productivity transcended mere subsistence. High productivity in industries is highly important as a result of the fact that it is a necessary condition for organizational sustenance and continuity in addition to improved standard of living. It is worthy of m ention that industrialization is an advancement of work. Work itself is seen as an effort or activity carried out for personal or organizational sustenance. Much expectation is attached with the concept of work, in addition to the provision of economic security. Work makes life meaningful and gives the feeling of self-actualization and acceptance to the worker in an industrial environment. However, the importance of work elucidated above working in the Nigerian industrial environment has not been that easy in recent time .So  many thing come into play which affect workers in the process of their daily activities as far as working condition are concern. These challenges often force industrial workers to feel concerned about some important working conditions such as the pay, the physical environment, safety, participation in decision making, career development /progression, heath etc.STATEMENT OF PROBLEMIn a situation whereby the working environment is not conducive enough for the e mployees, there may be a setback in the production level. A number of problems may arise while trying to create a good working condition. This may include good salary package, incentives and bonuses, good insurance policy, allowance, cordial relationship of the superior and subordinate and good compensation.Organization must make sure that the working conditions are favourable so as to motivate the employee without any grudges towards achieving the organizational goals and objectives. Some of the problems that will make an employee less productive will include: Low job satisfaction, inadequate communication, poor employee/management relationship, neglect of job analysis, autocratic management style, weak union structure, and arbitrary change of work rule.AIMS AND OBJECTIVES OF STUDYThe purpose of study will include:To find out the extent to which employment conditions and employees productivity can be improved and the impact in on Cadbury Nigeria Plc. To find out how a well carried out job analysis improves productivity in Cadbury Nigeria Plc. To examine the type of leadership style and the relationship between the management and employees To determine the extent of labour turnover in relation to working conditions in Cadbury Nigeria Plc.RESEARCH QUESTIONSThe research questions of the study will include: i. What leadership style is being adopted by the management of Cadbury Nigeria Plc.? ii. Is there any relationship between social interaction and employee productivity? iii. How can working conditions influence employee productivity in Cadbury Nigeria Plc? iv. Is there a direct relationship  between working conditions and employee productivity? v. Does wage rate determine employee’s productivity?RESEARCH HYPOTHESIS Hâ‚€: There is no direct relationship between working conditions and employee productivity. Hâ‚ : There is a direct relationship between working conditions and employee productivity.Hâ‚€: There is no positive relationship betw een social interaction and employee’s productivity. Hâ‚ : There is a positive relationship between social interaction and employee’s productivity.Hâ‚€: Employees are not satisfied with the working conditions and are likely to express the need to leave the organization. Hâ‚ : Employees are satisfied with the working conditions and are likely to express the need to leave the organization.SIGNIFICANCE OF STUDYThe study shows that productivity is a very essential factor in any organization. There is a need for the parties to strive hard to ensure that well carried out job increase productivity and it should be adhered to especially at the company level and there is the pursuit of rendering excellent services to customers. This research seeks to find out why expected returns are not accruing to some organizations while others are reaping the fruit of their labour. The research is also of particular interest in finding out whether employees with best performance are expressed within the range of their working conditions.SCOPE OF STUDYThis study is limited in scope to finding impact of working conditions on employee productivity. This study additionally identifies productivity related problems confronting organization with the intention of providing relevant solutions’ to them. This study is focused on the Food, Beverage and Tobacco industry. This is one of growing industry in Nigeria economy and Cadbury Nigeria Plc. is chosen. It is chosen with the belief that it will provide us an overview into the performance assessment exercise in the Food, Beverage and Tobacco industry.LITERATURE REVIEWLiterature review is very important and crucial to any research work. This is because the review of literature provides us with guidance and exposes us to other works that have been done in any particular field. It facilitates an insight into the understanding of the subject matter of research. Here, various opinions shall be discussed so as to ma ke it easy for other researchers who wish to embark on the same subject matter. Relevant and current literatures will be reviewed.Brenner (2004) argued for modeling of work environment to improve employees’ productivity calls for management responsibilities of holding everything together, improving motivation and creating commitment in the work environment. He postulated the PRIDE model, which managers can use in order to be successful in modeling the work environment. Providing a work environment that simultaneously achieves company goals and employees’ goal involves motivating such work environment with quality of work life.This involves giving employees opportunity for their personal growth, achievement, responsibility, recognition and reward so as to get high quality productivity from employees (Cecunc, 2004). According to Yesufu (1984), the nature of the physical condition under which employees work is important to output. Offices and factories that are too hot an d ill-ventilated are debilitating to effort. There should be enough supply of good protective clothing, drinking water, rest rooms, toilets, first aids facilities etc. Both management and employees should be safety conscious at all times and minimum of requirement of the factories act must be respected.RESEARCH METHODOLOGYThis shall highlight the method that will be employed in gathering relevant information and analyzing such information. The areas that would be covered includes, the research population, sample size, research design, research instrument, re-statement of hypothesis, method of data collection and method of data analysis.The population of this research is based on the food, beverage and tobacco industry, while the sample is Cadbury Nigeria Plc. The research instrument to be adopted will involve the use of questionnaires and  interviews. A questionnaire is a research instrument consisting of a series of questions and other prompts for the purpose of gathering informa tion from respondents.SAMPLE AND SAMPLING TECHNIQUESThe whole population cannot be studied, thus a sample was drawn to represent the population. The finding from the study of sample shall be generalized for the entire population; all employees of the Cadbury Nigeria Plc. They will be given equal and independent chance of being selected and included in the sample,DATA ANALYSIS AND INTERPRETATIONData analysis and interpretation is the life-wire of any research study, an attempt will be made to classify responses according to sex, age, educational level, marital status, length of service and current salary grade. Simple Random Sampling shall be employed in analyzing the collected data whereby each individual is chosen randomly and entirely by chance, such that each individual has the same probability of being chosen at any stage during the sampling process.DEFINITION OF TERMS i. Job satisfaction Is in regard to one's feelings or state-of-mind regarding the nature of their work. Job sat isfaction can be influenced by a variety of factors, eg, the quality of one's relationship with their supervisor, the quality of the physical environment in which they work, degree of fulfillment in their work, etc.ii. Arbitration A non-court procedure for resolving disputes using one or more neutral third parties — called the arbitrator or arbitration panel. Arbitration uses rules of evidence and procedure that are less formal than those followed in trial courts, which usually leads to a faster, less-expensive resolutioniii. Leadership style Leadership style is the manner and approach of providing direction, implementing plans, and motivating people.iv. Productivity Productivity is the relative efficiency of economic activity—that is, the amount of products or services produced compared to the amount of goods and labour used to produce it. It can also be said to be the amount of goods and services that a worker produces in a given amount of time. v. Working conditions Working conditions is the safety and healthfulness of the workplace, including the physical work environment and the procedures followed in performing the work.

Individual work Essay Example | Topics and Well Written Essays - 500 words

Individual work - Essay Example Service delivery industries’ success is dependent on customer satisfaction. Lack of respect and ethical impairment is also visible among the company staff. For instance, the hotel’s manager insults the disabled guest of being unable to get to the dance floor instead strategizing on the required changes for improving on service delivery. One of the possible means of addressing these issues is the assessment of the service quality for improving service delivery, identifying customer problems and ensuring satisfaction. The manager should also identify and target the service needs of clients in order to satisfy them. The staff members should always be able to handle all guests regardless of their age and gender. The client should establish a service culture through staff training. The management should not be focused on the number of guests they receive, but the quality of service they offer. The guest’s expectations can only be achieved if the challenges facing the employees are addressed adequately. Listening to the employees enables the management to identify and curb the challenges facing them. The new employees should be tested to prove their ethical qualifications. This ensures that the services being offered to customers are of high quality. Guests should not be discriminated under any consideration regar dless of their physical strengths or weaknesses. The client should include regulations capable of accommodating the emerging services. The client should also ensure that all the services offered conform to current changes in technology. For instance, the disabled guest could have accessed the dance floor if the necessary technology was available. Lack of prior booking by the guest is an indication of existence of poor marketing and inefficient awareness. This implies that the client should invest in promoting marketing and customer awareness. The main

Kwon's Investigation to the Artists Essay Example | Topics and Well Written Essays - 1000 words

Kwon's Investigation to the Artists - Essay Example Traditionally, the word â€Å"art† had a limited meaning but with the passage of time, it has broadened its meanings and forms. Public art has faced many controversies from the critics all over the world. But feminist art has emerged in the history as a strong and the most controversial medium through which the efforts and achievements of the feminist artists have sought a medium to reflect the experiences and various colors of a woman’s life. This has changed the idea of contemporary art. The history of feminist art has its roots deeply ingrained in the history of art and therefore, the changes brought by the feminist artists have contributed greatly in changing the history of art. In other words, we can say that feminist artists have intervened in the history of art. The feminist art movement started with the idea that everyday experiences in a woman’s life should be represented through art, where they have been either neglected or underestimated by various fac tors such as the society, culture, politics etc. The emergence of feminist artists took place even before the rise of the feminist art movement in early 1971. ... In addition later in year 1971, women artists were excluded from the exhibition and art galleries by Corcoran Biennial in Washington D.C. which provoked an organized protest from New York Women in Art against the gallery owners for their discriminatory actions. Later in the same year, Judi Chicago founded Feminist art program at Cal State Frenso. Judi Chicago was one of the most recognizable activists in the Movement. She has played a key role in creating awareness among the feminine artists for their roles, rights and contributions in the artwork. In 1972, Judi Chicago came up with another masterpiece entitled as â€Å"WomanHouse† along with Miriam Schapiro at California Institute of Arts. WomanHouse drew the attention of crowds as well as gained the national publicity for the active work from the activists of the Feminist Art Movement (Harper; 1985). This was a collaborative effort by the students to display their artwork; expressing their feelings for being discriminated an d condemned by various performances. It is imperative to understand the term â€Å"feminist art.† This has raised a debate between the art historians and theorists around the globe. It is still difficult for them to understand and extract the exact meaning of feminist art as a movement, a milestone in art history or is it a diversified shift in artwork. Many critics have compared this form of art as an unreal and challenging way of performing art and making it to be seen by the audience. Feminist art has raised many questions that are closely associated with Postmodernism. Feminist art gave a new meaning and dimension to its form. However, Postmodernism has denied the inflexible nature

Criminal Justice Assignment Example | Topics and Well Written Essays - 250 words - 4

Criminal Justice - Assignment Example Eventually, the court sent Gault to six years in detention, prompting his parents to apply for a habeas corpus. Unfortunately, their application was declined by the Superior Court of Arizona and subsequently by the Arizona Supreme Court (Gold 112).   The rationale: the Court upheld the Due Process Clause of the 14th Amendment, noting that it is the basis of fair trial. Justice Black noted that without due process, the much needed distillation and assessment of vital facts from trivial issues would not suffice, hence the lower courts created room for an injustice (Stansby 1204). The case underscored the need to observe Due Process provisions by all parties in the criminal justice system irrespective of the magnitude of the case; that a child or an adult should be afforded the same treatment. Juvenile gangs would be handled best by enforcing severer punishment for gang-related crimes (Ross 425). Creating more juvenile correction and probation facilities would modify and keep juveniles from engaging in recidivism. Improving access to schools and creating awareness on the demerits of juvenile gangs would keep children out of the criminal justice system. I believe the decision made in this case corrected the misconception that unlike the adult criminal justice, juvenile justice should be informal. The ruling also discounted probation and long periods of incarceration as the basis of juvenile

Discussion forum in English II Essay Example | Topics and Well Written Essays - 500 words

Discussion forum in English II - Essay Example r it is a story, poem or a novel has the power to evoke ‘mental representation of an object or action that can be known by one or more of the senses† (Schakel & Ridl 552). There are a number of verbal images in Maxine Kumin’s poem â€Å"The Sound of the Night† that describe the sights and sound of night at a Lakeshore cottage which appeal to the mind’s eye and ear of the reader. The first stanza of the poem offers the reader with the images of birds, bats and the fat frogs. The image of the birds crowding the trees and making the air â€Å"thick with their vesper cries† is appealing. The image of the bats with their â€Å"seven-pointed Kites† is outstanding; strong verbs such as ‘squeak’, ‘chirp’, ‘dip’ and ‘slum’ add to the image of the bats and such words appeal both to the reader’s senses of sight and hearing. However, the image that stands out in the first stanza as well as in the whole poem is that of the image of the fat frogs. The phrases that describe the fat frogs-â€Å"wake and prink wide lipped†, â€Å"noisy as ducks†, drink on the bo ozy black†, and â€Å"gloating chink chunk†- are the best in the poem (Schakel & Ridl 552). The reader can clearly draw the picture of the fat frogs in his/her mind and can experience their noise that resembles the ducks. However, a good reader can go beyond these images to find the implied connotations in all these images. It is important to understand the voice and tone of the narrator in a story or a poem. One should keep in mind the fact that even in first personal poems the ‘I’ in the poem is not always the author or someone who is quite identical to him. The ‘I’ in the poem could be â€Å"a character separate and different from the author† (Schakel & Ridl 571). Charles Bukowski’s poem â€Å"My Old Man† narrates the relationship between a father and the son and the reader understands from the second stanza of the poem that Henry is the narrator of the poem and that he is not a persona of

Decisions in Paradise Paper part 1,2, and 3 Essay

Decisions in Paradise Paper part 1,2, and 3 - Essay Example It is often seen that fast urbanization and the technological advancements have been responsible for global climate change which may have contributed to the increased frequency of natural calamities, throughout the world. Kava too is prone to natural disasters and at the same time external factors like terrorism and internal strife, has produced many securities among the local population. Hence, we need to apply the technique of decision making that would help us to decide on the projects that are best suited to benefit both Kava people and us. ‘Decision matrices are most effective where you have a number of good alternatives and many factors to take into account’ (internet). Decision Matrix Analysis would facilitate us to reach to the right decision because it incorporates a huge range of factors for the various projects that can be started here. The various business options may include tourism, petroleum, natural gas and agricultural produce. The few of the salient fac tors that may influence the decision include existing interests of the company, preliminary cost, scope, local resource, local development etc. ‘Using such a distributed assessment framework, the features of a range of evidence can be catered for whilst the assessor is not forced to pre-aggregate various types of evidence into a single numerical value. Both complete and incomplete assessments can be accommodated in a unified manner within the framework’ (Yang, 2001). Kava is bestowed with rich local raw materials which include products like petroleum, natural gas, cocoa, spices, sugar etc. Another area that has vast potential is the tourism industry that can be developed into a roaring business. Initially we must identify two areas which can be developed into concrete business solution. Later the company can diversify to introduce new areas for fresh ventures. Therefore, looking at

Accounting + Finance - auditing Essay Example | Topics and Well Written Essays - 1500 words

Accounting + Finance - auditing - Essay Example Audit concentration with big 4 is a globalised issue. An â€Å"analysis of auditor concentration among G8 economies revealed a high of 99% in Italy, followed by UK (98%), the US (97%), Canada 96%, and Russia (90%). Japan revealed a lower auditor concentration of 84%- while the reasons are unknown, increased activity is occurring in the Japanese audit market owing to PwC winding down their affiliates earlier this year. Relatively lower concentration in Germany (83%) cannot be attributed to any particular cause, whereas G8’s lowest concentration levels in France (61%) are largely due to the implementation of French joint- auditing regulations which were imposed in 1966. Across G8 the Big 4 firms accounted for an average of 91% of the market.† (Grant Thornton LLP, 2008)1. The 98% concentrated UK large audit market can further be divided into two segments; first segment is of FTSE 100 and FTSE 250 companies, and the other segment is of smaller listed companies. The concentration of large audits is evidenced by the fact that segment of â€Å"FTSE 100 and FTSE 250 are supplied audit services almost exclusively by Big Four, which audit all but one FTSE 100 companies, and 242 FTSE 250 companies. The other segment of market- smaller listed companies- is supplied by both the Big Four and mid- tier firms. Even here, the Big Four individually have significantly higher market shares than mid- tier firms.† (Oxera, page iv)2 Quantum wise larger audit assignments are only a small portion of total audit market in UK, and 98% of this section of total pool of audit work is concentrated with Big 4 firm. The Big four (Ernst & Young, KPMG, PricewaterhouseCoopers, and Deloitte) have an advantage because â€Å"the reputation and depth of resources of big firms put them in a strong position to mitigate the agency and costly contracting costs that are increasingly

Addressing goals for the DNP program Essay Example | Topics and Well Written Essays - 250 words

Addressing goals for the DNP program - Essay Example Every person pursuing a career needs to increase his or her skills in order to give better output. In a nursing career it is no different. However, the advancement of studies plays an important role not just in additional skills or knowledge, but also for the nurse to be able to provide better care to patients within a population, as well as to be able to function as a leader or one of the leaders within health and nursing organizations. To be able to achieve these end results, the Doctorate of Nursing Practice (DNP) Program created goals that would be teaching nurses knowledge that give more emphasis to: acquiring an advanced degree of skills used in a multitude of situations; being able to use the results of nursing research in applications as needed; playing an active role in leadership of an organization; and being proactive in the implementation as well as creation of health policies that would be inclusive to all patients. At present, I plan to pursue higher education as an adv anced nurse practitioner (ANP) in the DNP program, and with these goals of DNP in mind, I plan to become fully equipped in advancing my skills and knowledge for my nursing career, and share my knowledge with students if given the chance. In the course of nursing duties, it is required that a nurse be fully prepared in all situations, and to act according to the best course of action, especially when the patient’s life is at stake.

Sports Development and Governance Essay Example | Topics and Well Written Essays - 2000 words

Sports Development and Governance - Essay Example This paper analyses practices as well as challenges facing development as well as governance of sports in Russia. The Russian complete governmental leadership, educational, scientific, as well as medical assistance that is aimed at maximization of mass fitness as well as best performance in sport is guided by the organizational as well as the philosophical ideologies that were inherited from the former Soviet Union as well as the Tsarist Empire by the present day Russia. Governance refers to the manner in which bodies that govern get controlled as well as directed. The mechanism of governance, for instance organizational structure, formal documents, specify the manner in which power, rights, responsibility and authority are distributed amongst participants with an aim of monitoring performance as well as achieving goals. Good governance encompass several characterizes which include participatory, equitable and inclusive, responsive, and consensus orientation (Thomas, et al., 2008, P.12). A clear direction that aligns with the mission and vision for the organization. Russia did well in sports before the Soviet Union era. When the Soviet Union and this was due to the fact that at the time, organizations governing sports had a clear direction, which aligned with the vision and mission of the sports industry. Since 1998, soviet sport authorities directs a mass national spartakiards, which encompass more than the Olympic Games sports types. This has been improved on and on up to year 12011. The youth spartakiad of 2011 had 4 competition levels: individual educational institutions, regional an municipal levels, then culminating at national levels. Preparations for Olympics begins 5 years earlier preparation plans for athletes integrate training programmes, training calendars and medal objective. These plans of things show a clear direction

Liberalism Notes Essay Example for Free

Liberalism Notes Essay * Mainstream western philosophy. Other philosophies define themselves in relation to liberalism. * Evolution over time, though constant stress on individual freedom. Intellectual antecedents are 16th century religious reformations, 17th century scientific revolution and 18th century Enlightenment. !8th/19th century industrialisation created new class interests with commitment to reform programme so term liberalism dates from early 19th century. * Liberalism a reaction to 19th century absolutist regimes hence inextricably bound up with national self-determination. Movements for national freedom/unity associated with demands for civil/political rights and for constitutional checks on government. Contrast with Britain, where parliamentary sovereignty established in 17th century hence liberal domestic programme focused on other objectives such as parliamentary reform, religious toleration and free trade. * 19th century continental liberalism primarily a political creed and even in Britain the centrality of free markets to liberalism has been exaggerated. Victorian liberalism stood for political reform at home and support for constitutional/national movements abroad. Inspired more by religion (radical nonconformism) than by economics. Indeed from 19th century British liberalism repudiated laisser-faire and accepted need for state intervention (New Liberalism) especially in social welfare. * Decline of Liberal Party in 20th century, but ascendancy of liberal ideas. Dominant orthodoxy until late 1970s was derived from New Liberalism Keynes and Beveridge marked culmination of New Liberal thinking. Challenge to consensus came principally from an older free market version of liberalism i.e. neo-liberalism. Battle of ideas post 1945 less between left and right than between old and new liberalism. * Today liberal has different meanings in different places UK Liberals/Liberal Democrats long seen as centre/left of centre; in EU liberalism normally associated with the right; in USA a term of abuse for radical-progressive (crypto-socialist) ideas; label also associated with free market advocates (Hayek, Friedman, New Right). And almost all mainstream ideologies can be regarded as variants of liberalism. * Liberal values/ideas of vital historical importance central to development of British political tradition UNDERLYING ASSUMPTIONS AND VALUES OF LIBERALISM * Hall (1986) describes liberals as open-minded, tolerant, rational, freedom-loving people, sceptical of the claims of tradition and established authority, but strongly committed to the values of liberty, competition and individual freedom. 19th century liberalism stood for individualism in politics, civil and political rights, parliamentary government, moderate reform, limited state intervention, and a private enterprise economy. Widespread agreement over key liberal ideas/values though not over their later development and interpretation. * Key assumption is individualism. Individuals (rather than nations/races/classes) are the starting point. Society an aggregate of individuals; social behaviour explained in terms of some basic assumptions about human psychology. Some liberal thinkers saw society as an artificial creation prior state of nature where neither society nor government existed. Implication that society and government were purposefully created by individuals in pursuit of their own self-interest. So no social interests beyond the interests of individuals who make up society. * Individuals pursue their own self-interest rationally. No-one else (especially rulers) can determine the individuals own interest. Optimistic assumption that the general pursuit of rational self-interest will produce not only individual satisfaction but also social progress and the happiness of the greatest number. * Freedom the key value individuals must be free to pursue their own self-interest (Mill). Originally this had a negative interpretation i.e. importance of freedom from external constraint. In early history of liberalism this entailed firm limits on power of government to interfere with individual liberty. An important application was principle of toleration applied especially to religious belief championed by Locke (1689) Mill (1859) went on to demand full freedom of thought and expression. Later some liberals stressed freedom to enjoy certain benefits (positive liberty) thus entailing extensive state intervention to enlarge freedom (Green (1881) and Hobhouse (1911) and Berlin (1975)). Conflict between positive and negative views of freedom (and divergent implications) a major theme in the development of liberalism in 20th century. * Influence of egalitarian assumptions. So stress on equality before the law, and equal civil and political rights (though little agreement on what these should be in practice). Some liberals thus justify state provision of education et al to create greater equality of opportunity. But this commitment generally accompanied by acceptance of considerable inequality of income and wealth so in practice equality sacrificed to liberty? * Freedom entails the freedom to be unequal? But liberals deny that individual liberty is inconsistent with social justice. Self-seeking individualism, yes but equation of might and right, no. Squaring of circle attempt to make justice consistent with pursuit of rational self-interest (Rawls, 1971). Implies optimistic view of human nature and thus scope for reconciling individual and collective goals. Hence liberalism differs here from traditional conservatism (more pessimistic about human nature) and socialism (deny reconciliation can be readily achieved) SUMMARY OF THE HISTORICAL WHIG-LIBERAL TRADITION * 17th century Puritanism and Parliamentarism * Late 17th/18th century The Whig Tradition: Glorious Revolution (Locke), constitutional monarchy, government by consent, division of powers, religious toleration (Charles James Fox), oligarchy, mercantilism. * Late 18th/early 19th century Radicalism: revolution (Paine), rationalism, rights of man. * Classical liberalism (Smith) Individualism (Malthus), free markets (Ricardo), utilitarianism (Bentham), representative democracy ( James Mill). * Mid 19th/later 19th century Victorian Liberalism: Manchester liberalism (Cobden), nonconformism (Bright), free trade (Gladstone), nationalism (Mill), municipal gospel (Joseph Chamberlain). * Late 19th century/early 20th century New Liberalism (T.H.Green): social reform (Hobhouse), state intervention (Hobson), liberal imperialism (Edward Grey), national efficiency (Asquith), constitutional reform (Lloyd George). * 1920s to 1970s Decline of Liberal Party but progressive liberal consensus (Keynes, Beveridge). * Late 20th century/early 21st century Liberal revival? (Steel): European Union (Ashdown), devolution (Kennedy). THE WHIG TRADITION * Whig party in 17th century opposed royal absolutism and championed religious dissent; support for rights of parliament and for limits on royal power. Influence of Locke (1632-1704) belief in natural rights to life, liberty and property; government should rest on consent of governed, whose rebellion was justified if their rights were infringed. Need for constitutional limits on government, and division between legislative and executive powers ideas enshrined (imperfectly) in British Constitution post 1688 Glorious Revolution, and later helped to inspire French and American Revolutions. * Contradictions in Whiggism. Defence of material interests aristocrats and merchant/banking allies sought to preserve own power, property, privileges from threat of crown. No concern for massive 18th century wealth/income inequalities. And no wish to spread power beyond the propertied, so constitution they developed/defended was oligarchic/conservative. Fortunes made out of war, slave trade, India. Enclosure of land at expense of rural poor; ruthless enforcement of game laws. * Radical interpretation of Whiggism also no taxation without representation (slogan of parl. opposition to the Stuarts) also became cry of American colonies. 1776 Declaration of Independence based on Whig principles; French revolution welcomed by most Whigs Whig leader Charles James Fox defended its principles/championed civil liberties in England (until death in 1806). * Out of office, 1783-1830, so able to proclaim continued attachment to peace, retrenchment and reform unsuccessful parl. Reform bills, 1797 and 1810. Some credit claimed for abolition of slave trade, while traditional Whig demand for religious toleration reaffirmed in support for Catholic emancipation. * Defection of Old Whigs and accommodation within Foxite remnant of party of new radical generation, committed to reform, helped to preserve/reestablish a politically progressive Whig tradition that ultimately merged into liberalism. 1832 Reform Act the culmination of the Whig tradition yet underlines its essentially conservative nature very modest franchise extension (some of the propertied middle classes). Yet new urban centres gained at the expense of the shires; manufacturing/commerce at the expense of land. Whig aristocrats ultimately lost influence to urban-based business and professional middle classes (the muscle behind Victorian liberalism), though Whigs remained an important, if diminishing, element within the Liberal coalition until the late 19th century. (An antidote to those who view liberalism almost exclusively in terms of free markets neglects the Whig foundations). * The Whig-Liberal tradition is essentially a political tradition, concerned with constitutional issues/civil liberties/parl. sovereignty/ government by consent/freedom of conscience and religious observance/no taxation without representation. Whiggism served economic interests but never really an economic doctrine not about free trade/markets. Foreign trade policy in 17th/18th centuries mercantilist aimed to secure (through colonisation, Navigation Acts and war) the largest possible British share of world trade. RADICALS * Radical reformers at different times, interwoven with or opposed to Whig tradition influence on both liberalism and socialism. Radicalism a broad term, with different connotations for different periods, yet huge influence on British liberalism and 19th century Liberal party. * Paine (1737-1809) never absorbed into the Whig (later Liberal) establishment argued that once sovereignty had been transferred from the monarch to the people, there was no logical case for restricting the franchise his ideas the logical outcome of Whig slogans. Paine a liberal? (uncompromising individualism, sympathies with manfacturers, hostility to government). Or a socialist? (Blueprint for the Welfare State, support for graduated income tax, inspiration for Chartists). More impact in USA/France than in Britain seen as dangerous due to uncompromising republicanism, total opposition to hereditary principle, rejection of Christianity. * Philosopher radicals (or utilitarians) such as Bentham were in touch with progressive Whigs; Whitbread and Brougham constituted the progressive wing of the parl. party. Cobbetts radical populism harked back to pre-industrial age; Bright (Quaker manufacturer) belonged to new generation of post 1832 MPs himself displaced by new breed of radicals who took over the Liberal party in latter part of 19th century. * Radical pressure reinforced Whig commitment to parliamentary reform in 1832, and later. Association with religious dissent in 2nd half of 19th century imbued it with strong moral character fuelled demands for non-denominational state education and C of E disestablishment. Also strongly associated with the municipal gospel in local government. Fusion of Whigs and radicals with former Peelites created Liberal Party, 1859. Whigs continued to dominate Liberal Cabinets, but radicals dominated increasingly important grass roots level, especially after 1859 formation of the National Liberal Federation. * Yet it was a relatively restrained, religiously inspired, and peculiarly British strand of radicalism which eventually prevailed rather than the fiercely rationalist, republican radicalism of Paine. CLASSICAL ECONOMICS AND UTILITARIANISM * Intellectual (rather than moral) influence on Victorian liberalism of classical economists and utilitarians. Smith (1732-90), Malthus (1766-1834) and Ricardo (1772-1823) established importance of markets in the allocation/distribution of resources. And Benthams (1748-1832) utility principle was applied to a wide range of institutions/practices fiercely rationalist analysis (What use is it?). The greatest happiness of the greatest number was the only right and proper end of government. * Both stemmed from the 18th century Enlightenment; both shared the individualist/rationalist assumptions underpinning liberalism; each tended to share the implications of the others approach. Mill had a foot in both camps. * But modern neo-liberals argue it is only Smith and Hume (18th century Scottish Enlightenment) who represent the true spirit of liberalism. Bentham et al are blamed for ideas which provided a warrant for much later illiberal interventionist policy (Gray, 1986). The greatest happiness principle is seen as a breach of free market economics, since the principle of representative democracy (advocated by Mill who converted Bentham) might involve electoral pressures for interference with free market forces; moreover, neo-liberals are opposed to Benthams advocacy of bureaucracy, and thus the appointment of qualified, salaried public officials. The contradictory implications of Benthamite thinking are seen in the utilitarian-influenced Poor Law Amendment Act (1834) the able-bodied poor must enter a workhouse where their condition would be less eligible than that of the lowest independent labourer (free market incentives); at the same time theAct required a comprehensive network of administrative areas and officials, and a large degree of central control and inspection (bureaucracy). * Hence modern neo-liberals are critical of Benthams constructivist rationalism (Hayek, 1975); Gray (1986) claims that it had an inherent tendency to spawn policies of interventionist social engineering. Their refusal to recognise Bentham as a liberal involves an artificial conception of liberalism which has little in common with the Whig/Liberal tradition. * The major classical economists contributed significantly to Victorian liberalism, but their ideas were extensively vulgarised. Even Smith allowed for significant exceptions to his invisible hand. Popularisers such as Harriet Martineau, Edward Baines and Samuel Smiles reduced the principles of classical economics to laissez-faire (for governments) and self-help (for individuals). Public policy, moreover, was never consistently governed by laissez-faire look at the various Factory Acts, Public Health Acts and Acts to regulate the railways and banks passed in the early Victorian period. VICTORIAN LIBERALISM * Although the term liberal was applied from the early 19th century, the Liberal Party emerged only in the 1850s from a party realignment of Whigs, radicals and Peelite Conservatives. Gladstone (1809-98), originally a Con. follower of Peel, the embodiment of Victorian liberalism. Domination of Liberal party, and shaped in his own image; he became more radical and populist with age. Also inspired by Christian moral fervour struck chord among nonconformists. So Gladstonian liberalism a moral crusade (Vincent, 1966). * Several strands. Parliamentary reform derived from Whig tradition; advocacy of Bright, then Gladstone turned it into a populist cause. Proposals for modest franchise extension developed into radical demands for full manhood suffrage. Nonconformist strand while the 1860s parliamentary party was still overwhelmingly Anglican, the Liberals were becoming the party of the nonconformist conscience (Vincent, 1966).Nonconformist pressures spawned the National Education League (to campaign for a national, free and secular system of education), which provided the model for the National Liberal Federation (1877) which established a national organisation for he Liberal party, and tipped it decisively towards radical nonconformism. By the 1880s the PLP (and the party in the country) was predominantly nonconformist. * Support for liberal and nationalist movements in Europe, especially Italian unification, helped create Palmerstons 1859 government and kept it intact; Gladstone campaigned against the Bulgarian atrocities, bringing him out of premature retirement and into close collaboration with the nonconformists. The religious fervour behind his mission to pacify Ireland both split the party and strengthened the moral element in liberalism. * Manchester liberalism also quite influential in the party after 1859. Free trade was established as a liberal principle. Gladstone, as Chancellor, built on earlier work of Cobden and Bright (Anti Corn Law League, 1846 repeal of Corn Laws reflected transfer of power from landed to manufacturing interests) by abolishing a range of duties; Cobden negotiated Anglo-French trade treaty of 1860. But free trade did not entail laissez-faire in domestic policy Cobdens opposition to Factory Acts increasingly out of tune with the times. * Increased state intervention entailed by liberal practice major reforms in education, the army, the law and civil service, 1868-74. Third Reform Act, 1884 triumph of radical demands over Whig caution. Chamberlains Unauthorised Programme (1885) and the Newcastle Programme (1891) marked decisive shift towards radicalism. * Pace of change too fast for some Herbert Spencer (1820-1903) combined laissez-faire economics with evolutionary survival of the fittest; opposition to most forms of state intervention being introduced by Liberals at national and local level; but out of step. By contrast, Mill (1806-73) key transitional figure in evolution of liberalism. The sole end for which mankind are warranted, individually or collectively, in interfering with the liberty of any of their number is self-protection (1859) effectively a plea for minimal state intervention (Mill denounced censorship and argued for full liberty of thought and expression). Yet his commitment to individuality (and advocacy of democracy) caused him to fear the tyranny of the majority and the despotism of custom, seen as a greater threat to individuality than deliberate actions by governments. So a watershed thinker in the development of liberalism from individualism to collectivism (Gray, 1986). LIBERALISM, CAPITALISM AND DEMOCRACY * Liberalism closely associated with rise of industrial capitalism preeminently the creed of the owners of industrial/financial capital. Its political objectives focused on the enfranchisement of the new middle classes and the transfer of political power to the major manufacturing urban centres. No coincidence that Liberal party finally emerged in the 1850s when Britains industrial and commercial dominance was unchallenged, and the working classes were ununionised and unenfranchised. Even further back, protestant dissent (and especially puritanism) embodied ideas favourable to the spirit of capitalist accumulation. * But British liberalism cannot be simply derived from capitalism. The leading Whig MPs, who were still prominent in 19th century Liberal governments, were large landowners; many rank and file Liberals were not manufacturers but small shopkeepers and tradesmen; many of the working class were attached to the Liberal cause (even before the vote). In practice liberalism a coalition of class interests. Many of its causes temperance, religious disestablishment, home rule were scarcely connected with the interests of capitalism. Leading liberal thinkers Mill, Hobhouse, Keynes, Beveridge gave capitalism only qualified support. * Establishment of capitalist economy accompanied by the gradual establishment of a liberal democratic system no coincidence. Indeed, Marxist view is that rep. democracy offers best shell for capitalism so hardly surprising that party of the bourgeoisie was at forefront of parliamentary reform movement, though stopping short of support for full rep. democracy. Gray (1986, and a neo-liberal) accounts for this by arguing that unlimited democracy cannot be liberal government since it respects no domain of independence or liberty as being immune to invasion by governmental authority. * But representative democracy in early 19th century was largely untried, so not surprising liberals were apprehensive about what was a radical minority cause. Yet Paine advocated full manhood suffrage, and Mill argued for extension to women of full political rights. Once the logic of reform was accepted and liberals became committed to the theory and practice of rep. democracy their conversion was wholehearted, and seen by many (such as Chamberlain) as a justification for abandoning earlier limitations to government intervention. Herbert Samuel (1902) argued a reformed state could be entrusted with social reform Now democracy has been substituted for aristocracy as the root principle of the constitution .the State today is held worthy to be the instrument of the community in many affairs for which the State of yesterday was clearly incompetent.. Acceptance of democracy a critical step towards New Liberalism. Inexorable logic by which liberals progressed from parliamentary reform to representative democracy, to state intervention and the apparent abandonment of some of the principles associated with earlier liberalism. THE NEW LIBERALISM * Flourished in late 19th/early 20th centuries involved state economic/social reform which repudiated laissez-faire liberalism. Controversial development natural extension and refinement of the old principles OR culmination of anti-liberal elements present in the liberal tradition from the 1840s in the work of Mill. (Socialist critics dismiss NL as a forlorn attempt to revive an outmoded ideology Arblaster, 1984). * Origins of NL? Influence of Hegelian idealism? Party project to win working class support and head off rising Labour challenge? Need to modernise British economy/society and thus to compete more effectively? Or simply a rationalisation of the substantial growth in government intervention that had already occurred? * Key NL thinkers were Green, Hobson and Hobhouse. Green (1836-82) an Oxford philosopher and Hegelian; Hobson an economist who believed under-consumption to be the cause of unemployment; Hobhouse (1864-1929) a philosopher/sociologist. Common aim to redefine old liberal values in line with new political practice. So freedom, according to Green, meant a positive power or capacity and must be enjoyed by all. Hobson referred to the provision of equal opportunities for self-development so state intervention might be needed to remove obstacles. (But each enlargement of the authority and functions of the State must justify itself as an enlargement of personal liberty, interfering with individuals only in order to set free new and larger opportunities). Hobhouse justified interference with the market to secure the right to work and the right to a living wage, given the powerlessness of individual workers to secure such rights. * Liberal politicians were more cautious than the NL ideologues, though were increasingly interventionist, both at national and at local level. Locally, enthusiasm for civic improvements amounted to a municipal gospel city government seen as a test-bed for policies which could be applied nationally. Chamberlain (1836-1914) a radical Liberal mayor of Birmingham before moving to national politics (later split with Gladstone and allied with the Conservatives) campaign for the Unauthorised Programme (1895) based on LG experience hospitals, schools, museums, libraries, galleries, baths, parks, etc. Explicit rejection of laissez-faire, which was equivalent to acceptance of selfish wealth alongside poverty; accepted charge that proposed reforms were in practice socialism. Radical, reforming approach of 1895 UA echoed in 1891 Newcastle programme. At national level, little opportunity to implement the NL programme before the Liberal landslide victory of 1906. * 1906-14 Liberal Government key figures were Asquith and Lloyd George. Welfare reforms included provision of school meals and OAPs, and LGs introduction of national health and unemployment insurance (1911). LGs 1909 budget involved some modest income/wealth redistribution through the land tax and progressive income tax. And Churchills labour exchanges showed willingness to intervene in the labour market. * Key stimulus was rising challenge of labour; historians disagree over electoral appeal of state welfare advocated by leaders of organised working class, but not necessarily popular with working class voters, and frightened many middle class voters. Rosebery (briefly PM post Gladstone) thought Newcastle programme cost the party votes, though his Liberal Imperialism appealed to a chauvinistic working class, while his more modest economic/social reform programme promoted National Efficiency and appealed to progressive businessmen set on competing successfully with the rising economies of Germany, USA and Japan. DECLINE OF THE LIBERAL PARTY AND TRIUMPH OF LIBERALISM? * NL failed to prevent decline of Liberal party. WW1 undermined Liberal internationalism. Pressures towards collectivism/coercion associated with modern warfare created huge strains for Liberal individualism especially on symbolic issue of conscription. And after WW1 many Liberal causes (religious nonconformism, temperance, free trade) seemed less relevant. * Yet the disintegration of the Liberal party signifies the triumph of liberalism .. if liberalism is now partly invisible, this is because so many of its assumptions and ideals have infiltrated political practice and current awareness. (Eccleshall, 1986). Culmination of liberal thought seen in Beveridges social welfare proposals and in Keynesian economic theory provided basis of the post WW2 ideological consensus. 1942 Beveridge Report based on insurance principle, and was in keeping with spirit of LGs 1911 insurance scheme though much more comprehensive. Keynes economic theory provided for macro government intervention but allowed markets to operate freely at the micro level. Both B and K favoured private ownership of the means of production. It was precisely this kind of state intervention to promote employment and welfare provision which was favoured by earlier NLs like Green and Hobhouse. * Other liberal ideas long absorbed into British culture. 1960s changes in the law on divorce, homosexuality and abortion; some relaxation of censorship all compatible with Mills 1859 proclamation of principles of individual liberty. Later laws on equal pay, equal opportunities, and race and sex discrimination in 1970s fully consistent with liberal ideology. Thus a progressive liberal orthodoxy was established, with support from all parties. * Apparent triumph of economic/social ideas of NL complicated by revival (from 1970s onwards) of the older free market liberalism associated with classical economics. Hence modern use of term liberal requires a qualifying prefix. Hence progressive (or social) liberals advocate penal reform, civil liberties, protection of rights of minorities, freedom of expression, and open government unashamed economic interventionists. Neo-liberals (Hayek, Friedman) favour free market ideas on the right of the political spectrum, with key influence on the New Right and on Thatcherite conservatism. THE IDEAS OF MODERN LIBERALS AND LIBERAL DEMOCRATS * Modest revival in Liberal party fortunes began in 1960s; accelerated in mid 1970s; given impetus by alliance with SDP in 1983 and 1987; merger to form LDs. Now involved in coalition in Scotland and Wales, have large role in English LG, and 52 MPs after 2001 General Election. Accompanied by revival in associated political ideas. * Policies of Liberals/LDs involve continuation of NL tradition welfare capitalism, with strong stress upon individual rights. Distinctive Liberal policies included early advocacy of UK membership of EU, devolution, incomes policies, partnership in industry, electoral and other constitutional reform, and a focus on the community (linked with Liberal successes in LG). * Postwar Liberal party did little to extend/develop liberalism no startling new ideas or major thinkers. Neither electoral successes nor failures owed much to liberal ideology. Key decisions for leadership have been tactical, not ideological whether to accept Heaths coalition offer in 1974, whether to support the Labour government after 1977, how to handle the SDP breakaway from Labour in 1981, and how soon to promote a merger with the SDP. In fact, more intellectual ferment among the SDP, and their post -merger remnants. Dividing line between NL and Fabian socialism has always been thin? Hobhouse talked of liberal socialism in 1911; Hobson joined Labour after WW1. Thinner still following revisionist tendencies on the Labour Right in the 1950s, and the SDP breakaway in 1981. Hence the Liberal/SDP Alliance (and later merger) can be seen as the practical expression of an ideological convergence that was already well under way (Behrens, 1989). But ultimately it was the Liberals that swallowed the SDP, and not the other way round so the modern LDs are the clear lineal descendants of the old Liberal party. * Paradoxically, as fortunes of the Liberals/LDs have risen, LD ideas have become less distinctive. For most of post WW2 period Liberals adopted an intermediate position between Con and Lab. Briefly, in early 1980s, Liberals (and allies) seemed to offer a distinctive middle way between Thatcherism and left wing socialism. Since then Lab has reoccupied the centre ground previously vacated, leaving the LDs with little ideological space and few distinctive ideas or policies on the management of the economy, constitutional reform, Europe, defence and foreign policy the differences between the LDs and Lab are ARGUABLY more of degree than kind. * Under Ashdowns leadership, coalition with Labour seemed logical, even likely, given Blairs keenness to heal the divisions on the centre-left which had left the Cons dominant for most of the 20th century. Coalitions in LG and in the devolved bodies provide continuing impetus but sheer scale of Labs victories in 1997 and 2001 (and resistance within both parties) have weakened the project. LDs have pursued a more independent and critical line under Kennedy, without yet returning to earlier policy of equidistance between Lab and Con. * Attempts made to articulate a distinctive LD philosophy in these unpromising political circumstances by Wallace (1997), Russell (1999) and Ballard (2000). Yet terminology employed cooperation, working with others, partnership politics, community shared by New Labour and progressive Conservatives. Higher profile of LDs has drawn attention to considerable diversity of views in the party free market liberals, social liberals, conservatives with a social conscience and dissatisfied ex-Labour voters, greens, anarchists . (Ballard, 2000). Shows tolerance and inclusiveness? But not ideological coherence. The real problem is that there is now little distinctive ideological ground for the LDs to occupy, but this underlines the widespread acceptance of liberal ideas across mainstream British political parties.

Boston Beer Analysis Essay Example for Free

Boston Beer Analysis Essay Boston Beer Company (SAM) is a brewery in Massachusetts most commonly known for its Samuel Adams line of â€Å"craft† beers. The Samuel Adams line of beer was introduced in 1985. Since then the company has grown to do over 580 million dollars in revenue each year. 580 million is a very small piece of the food and beverage industry but the amount of shareholder wealth they are providing is impressive. Boston Beer Company has been named one of the top publically traded businesses to watch in 2013 by Forbes. Boston Beer Company is actually part of two markets. In the overall U. S. Beer market they have a mere one percent of the market. However, they own 22% of the craft beer market. In their industry, 66% of those competing in the craft brew market are brewpubs, which generally do not do mass distribution giving Boston Beer Company an edge. (Smith, 2011) Boston Beer Company has one major difference from its competitors. The company has no debt. The entire company runs on cash even though they have a 50 million dollar line of credit available to them, which they have never used. The company purchased Diageo’s Pennsylvania Brewery in June of 2008 for 55 million dollars cash so that they could produce 100% of their product without having to subcontract larger orders out. Boston Beer Company is capitalized with no bonds or preferred stock, only 13. 6 million shares of common stock. (Smith, 2011) Boston Beer Company’s cost of capital is 6. 60% since their weighted cost of equity is 6. 60% and their weighted cost of debt is 0. 00%. (Market Grader Inc. , 2013) Price to Revenue Ratio (Price to Sales) Boston Beer Company’s price to revenue ratio (TTM) is 3. 54 The price to revenue ratio is usually applied in place of the price to earnings ratio. This ratio is usually applied to companies within the same industry, however it excludes debt and expenses so the information the ratio provides is limited. Price to Cash Flow Ratio The current price to cash flow ratio for Boston Beer Company is 25. 76. The price to cash flow ratio is used to evaluate the price of a company’s stock as compared to the amount of cash flow it generates. The price to cash flow ratio is important for one main reason, it allows the comparison of companies from different jurisdictions because it removes depreciation (which may vary by country) and other non-cash factors. Therefore, it would allow an investor to compare Boston Beer Company’s stock to that of AB InBev along similar financial values. Price to Book Ratio (MRQ). The price to book ratio for Boston Beer Company is 8. 34. The price to book ratio measures a company’s market value in comparison to its book value. The price to book ratio indicates whether or not a company’s asset value is comparable to the market price of it’s stock. Because the price to book ratio for Boston Beer Company is well over one it may be an indicator that the stock is overvalued. An over valued stock for Boston Beer Company could imply the rapid decline in stock value in the near future, especially since the stock has climbed almost 25% in the last quarter alone. With the book value ratio as high as it is, a drop in stock price seems likely in the near future. Current Ratio (MRQ) Boston Beer Company’s current ratio is 1. 83. Current ratio is defined by a company’s current assets divided by is current liabilities. A company’s current ratio is a liquidity ratio that measures a company’s ability to pay short-term obligations. This ratio also takes into account inventory as current assets, although it may easily be converted into cash quickly. Because Boston Beer Company’s ratio is well over one, it means they have the assets and cash flows available to pay off any immediate debt should it be made due. The company’s amount of inventory provides a great deal of assets that makes the company much more liquid when this formula is used. Quick Ratio (MRQ) The quick ratio for Boston Beer Company is 1. 33. A company’s quick ratio is an indicator of a company’s short-term liquidity. This ratio is a more conservative form of the current ratio because it does not take into account inventory of the company when determining its current assets. Boston Beer Company still has a favorable ratio well above 1. 0. While their current ratio is much better with all the inventory, Boston Beer Company is still a reliable company that can pay off its short term debts if need be. Measuring Returns Primary Stakeholders Boston Beer Company has five primary stakeholders within company, Martin F. Roper (President and CEO), C. James Koch (Founder and Chairman), William F. Urich (CFO and Treasurer), John C. Geist (Vice President of Sales), and Thomas W. Lance (Vice President of Operations). Of the five of them C. James Koch holds more than 34% of the shares and is the sole holder of the class B common stock that gives him the right to appoint five of the eight members that are chosen to be on the board as seen in the following quote from the 2013 Proxy Statement. â€Å"At the Annual Meeting you will be asked to elect three Class A Directors and cast an advisory vote on executive compensation. As the sole holder of Class B Common Stock, I will elect five Class B Directors and cast a vote to ratify the selection of our independent registered public accounting firm. † (Boston Beer Company, Inc. , 2013) While Koch may have stepped down from CEO in 2001 he has maintained a great interest in his company and has positioned himself to have great control over the Company with his position as Chairman of the Board. His actions and goals are seen laid out in all of the company’s press releases and the company is continuing to be grown and maintained the same as it always has been with the exception of Boston Beer Company running its own breweries instead of subcontracting out their orders. Capital Budgeting Boston Beer Company runs just like any cash business. They have no money tied up in debt and any investment they make is paid for in cash. There is an upside and downside to this method of running a company. On the upside, the company is very liquid, meaning they can pay for most investments on the spot without accruing any debt. However, no debt might deter some investors from buying into the company. Having no debt throws off a company’s ratios in comparison with other companies within the industry and can make it difficult for investors to trust in the company. A typical investment for Boston Beer Company would be opening a new brewery or purchasing an existing one to help the company keep up with the demands for their products. The acquisition of the Diageo brewery 60 miles outside of Philadelphia in 2008 was the company’s most recent investment. Since the purchase, Boston Beer Company has been pouring tens of millions of dollars into the facility that used to employ 220 people to make Smirnoff and now employs 260 people to brew Sam Adams. â€Å"Boston Beers Breinigsville facility employs 260, up from 220 workers when the plant was purchased from Diageo. † (Richardson, 2012) Boston Beer Company now has three breweries. They are located in Cincinnati, Ohio, Breinigsville, Pennsylvania, and Boston, Massachusetts. Boston Beer Company has been weary to invest in the western half of the U. S. because they believe the craft beer market is oversaturated and they will not have much success, however, some market specialists believe they should do a trial batch with a brewery in the western market and measure real results. The only real measure of value for Boston Beer is the volume being sold. Boston Beer used to lease brewery locations in order to brew according to their demand. Within the last five years the demands for craft beers have grown significantly especially among the younger alcohol consuming demographic that is looking for something more the generic beer taste of the three big beer companies, Anheuser Busch InBev, MillerCoors, and Pabst. Boston Beer Company no longer has the need to lease other breweries after the purchase of the Diageo brewery. Now that they have the capacity to brew their own beer and staff accordingly Boston Beer Company has not only added value to the company, but have positioned them self to expand as the demands for their products continue to increase. The only place that Boston Beer Company seems to be struggling with is the money that they are leaving sit idle. While the company is very profitable and is run as a cash business, some of their cash flows could be invested to generate a better return than they are currently getting.

The Audit Risk Model Accounting Essay

The Audit Risk Model Accounting Essay The Audit Risk Model (ARM) is defined as: Inherent Risk is the auditors measure of assessing whether material misstatements exist in the financial statement before considering of internal controls. Ignoring internal controls, if the auditor assesses that the likelihood of material errors is high, the auditor will assume that the Inherent Risk is high. As the Control Risk constitutes a separate component of the Audit Risk Model, it is ignored here.   Control Risk is the auditors measure of assessing the likelihood that the clients internal control system is unable to prevent or detect material misstatements exceeding a tolerable level. In assessing the level of the Control Risk, the auditor will assess the effectiveness of the firms internal control system during his audit, e.g. through questionnaires. The lower the effectiveness of internal controls the greater the frequency of error. Detection Risk is the auditors measure of assessing the likelihood that the auditor  wont detect material misstatements. Auditors will carry out more audit work to increase the detection rate if  Internal Risk and Control Risk are too high in order to meet the Audit Risk target. When applying the Audit Risk Model, the auditor has to determine a target level of Audit Risk that is in accordance with providing reasonable assurance. The Internal Risk and Control Risk can be pooled together as Occurrence Risk (OR), i.e. the risk of the existence of  misstatements before the actual audit. The Detection Risk on the other hand is the risk of the existence of misstatements during the actual audit. The first step in applying the Audit Risk  Model is to determine a tolerable level of Audit Risk. In the next step the Audit Risk is decomposed into its three components. The auditor has no control over the Internal Risk and Control Risk but must assess their levels in order to determine the level of Detection Risk that is sufficient to achieve the target Audit Risk. The Detection Risk can be influenced by the extent of testing. Applying the formula of the Audit Risk Model, the auditor will need to perform more testing, that is collect more evidence, and thus reduce the Detection Risk, in case the level of Internal Risk and/or Control Risk is high in order to achieve (maintain) the target. The Detection Risk  can be influenced by the nature, timing, and extent of the audit procedures. 2. One of the components of the audit risk model is inherent risk. Describe typical factors that auditors evaluate assessing inherent risk. With the benefit of hindsight, what inherent risk factors were present during the audits of the 1989 through 1992 Comptronix financial statements? Internal Risk is the auditors measure of assessing whether material misstatements exist in the financial statement before considering the effectiveness of internal controls. Besides factors related to the peculiar assertion, the auditor needs to take external circumstances into account that might influence the Internal Risk. Those can comprise the nature of business and industry, the integrity of management, the size of account balances, the existence of related  parties, the lack of sufficient working capital to continue operations, etc. Taking into account those numerous factors, professional judgment has to be applied by the auditor. Examples of accounts that pose low Internal Risk comprise traded securities or fixed assets in contrast to accounts with high Internal Risk such as those for which estimates have to  be used or complex calculation have to be conducted. With hindsight the following inherent risk factors were present: Fictitious purchases of equipment An audit that would have included a physical inspection of Comptronixs equipment might have revealed that certain recognized assets do not exist or  that considering the age of and thus the depreciation for the equipment that certain pieces of  equipment are not worth their book values. Fictitious accounts payments for the equipment Besides auditing in a manner that would have revealed the nonexistence of certain purchases of equipment the auditors could have also audited check records and bank statements to see where and by whom the checks were cashed in. This would have revealed that the checks were never cashed in by a third, outside party, but were cashed internally. Fictitious sales and accounts receivables In the same manner as with the fictitious accounts for equipment, the auditor could have checked the inventory to verify the decrease in inventory of goods for sale as well as the payments by the customers. The former would have revealed the lack of sales while the latter would have revealed the lack of external customers for no outside  party deposited money in Comptronixs account. Another approach would have comprised matching the sales with the order papers and invoices. Here the auditor would have realized that there are no records for the bogus sales and hence no sales were realized. 3. Another component of the audit risk model is control risk. Describe the five components of internal control. What characteristics of Comptronixs internal control increased control risk for the audits of the1989 1992 year-end financial statements? Control risk is an auditors ¶ assessment of the internal control systems of a company. This also includes the attitude and expertise directors and management have towards internal controls. If  control risk is high then the amount of substantive procedures that have to be conducted increases accordingly. The internal control: Integrated Framework published 1994 by COSO breaks effective internal control into five interrelated components: control environment risk assessment control activities information and communication monitoring The control environment encompasses the internal control framework and is considered a foundation for all other elements. Included factors are integrity, ethical values, competence, managements philosophy, operating cycles, assignment of authority and the attention and direction provided by the board. Generally the control environment materializes in a written statement being the code of conduct. The risk assessment is best described as the means of identifying and analyzing internal and external risks to the achievement of financial reporting control objectives. Control activities are developed to address each control objective and to minimize risks identified. Information and communication from management to personnel must be clearly stated and should stress that control responsibilities must be taken seriously. The personnel must understand its role in the internal control system. Thus the company identifies methods and procedures by which right information is provided to the right people. Finally, monitoring is the process (internal or external) to evaluate the performance of the internal control system over time. At Comptronix various factors increased the control risk for the company. First, the loss of one of the major customers is a circumstance that increases control risk as management has an incentive to misstate earnings and other accounts to stay profitable. Second, the accounting system could be bypassed by management with factious manual entries. This increases control risk as it grants unlimited authority to top management for changing and manipulating accounts. Also cash disbursements could be approved by management based solely on an invoice. Finally the computerized accounting system in the shipping department, which constitutes a good internal control device, could be accessed and manipulated by the controller. In summary management had too much authority to enter and change the electronic accounting systems of the company, while there were no double checks in place to verify and control manual changes in the system. 4. The board of directors, and its audit committee, can be an effective corporate governance mechanism .a) Discuss the pros and cons of allowing inside directors to serve on the board. Describe typical responsibilities of audit committees. Inside directors on the board can facilitate its effectiveness by establishing strong connections  between the board and day to day business. However, inside directors can also comprise the independence of the board when it comes to personal interests. For example, the ability of the  board to set bonuses that are tied to performance and salaries of management is an important argument against inside directors. Another common topic in research is that adding insiders to the board of directors reduces board monitoring. On the other hand, a study by George Drymiotes shows that a less independent board, one that also looks after the agents interests to some degree, can sometimes fulfill its monitoring role more effectively than a board that is completely independent. A fully independent boards inability to commit to a specific level of  monitoring effort makes monitoring ineffective. Having insiders as part of the board, however, shifts the boards interests closer to those of the a gent and mitigates the boards incentives to short-change the agent (Drymiotes, 2007). The paper also suggests that any other mechanisms that align the boards interests, to some extent, with those of the manager may be beneficial to organizations. For instance, board and management interests can become more aligned when management owns a portion of the firm. Giving management a share of the firm means that a group of shareholders is managing the firm. Importantly, this particular group of shareholders finds ex post monitoring desirable, the same way inside directors do. Thus, a board representing shareholder interests may have stronger incentives to monitor the agent ex post. The audit committees responsibilities can be summarized as assisting the board of directors in verifying: the integrity of the companys financial statements the independence, integrity, qualification and performance of the external auditors the performance of the companys internal audit functions the appropriateness of the internal control systems the monitoring of compliance with laws and regulatory requirements and the code of conduct b) What strengths or weaknesses were present related to Comptronixs board of directors and audit committee? First of all the CEO and COO of Comptronix represented management of the board which constitutes already for 28.6% of the board of directors. Despite the evidence above and considering that the managers engaged in fraud, the high percentage of inside directors on the  board is a considerable weakness. Moreover, the remaining five outside board directors, rather  undermined than strengthened the boards independence: Two of them had close affiliations with management, the other maintained relations that were not that apparent at first glance, but nevertheless substantial. One, for example, was the partner in the venture capital firm that owned over 5% of Comptronix. Finally four annual board meetings seem to not have been sufficient to exert control over management. Concerning the audit committee it can be maintained that it was neither independent nor  qualified. The committee members, two outside and one gray director, were drawn from the  board of directors which was already evaluated as not being independent. Furthermore, not any of the members had accounting or financial reporting backgrounds, therefore lacking crucial expertise and experience in their function as an audit committee. 5. Public Companies must file quarterly financial statements in Form 10-Qs, that have been reviewed by the companys external auditor. Briefly describe the key requirements of  Auditing Standards (AU) Section 722, Interim Financial Information. Why wouldnt all companies (public and private) engage their auditors to perform timely reviews of interim financial statements? The SEC requires all public companies to have quarterly financial statements reviewed by the external auditor on a timely basis. SAS No. 71 provides guidance on the nature, timing, and extent of procedures to be applied by the independent accountant in conducting a review of interim financial information. The objective of a review of  interim financial information is to determine whether material modifications should be made for such information to conform to GAAP. A review of interim financial information consists principally of inquiries and analytical procedures. It does not include (1) tests of accounting records, (2) the evaluation of corroborating evidential matter in response to inquiries, or (3) other normal procedures ordinarily performed during an audit. Thus, the accountant does not obtain reasonable assurance that would serve as the basis for an opinion on that financial information. In performing a review of interim financial information, the accountant needs to have sufficient knowledge of a clients internal control as it relates to the preparation of  both interim and annual financial statements. That knowledge assists the accountant in identifying the likelihood of potential material misstatements in interim financial information and in selecting the inquiries and analytical procedures that will provide the accountant a basis for reporting whether material modifications should be made to the interim financial information in order for it to conform to GAAP. Non-public companies are not required to engage independent accountants to  perform a review of interim financial statements. Thus, a private companys decision to engage an independent accountant to conduct a review of interim financial information is a cost-benefit decision. The services associated with obtaining such a review require time and money. If top executives and the board of directors do not believe the related  benefits exceed the costs, then they are not likely to engage independent accountants. The guidance in SAS No. 71 applies to interim financial information that is included in a note to the audited financial statements of a non-public company. If the interim financial Information for the non-public company is presented in a separate complete set of interim financial statements, the accountant should comply with the AICPAs Statements on Standards for Accounting and Review Services. Recently, there has been increased attention on interim reviews because of alleged financial reporting fraud involving interim financial statements. The SEC requirement for timely interim reviews for public companies was sparked by the February 1999  Report and Recommendations of the Blue Ribbon Committee on Improving the  Effectiveness of Corporate Audit Committees (The Blue Ribbon Report). That report included a recommendation that the SEC require a reporting companys outside auditor to conduct a SAS No. 71 interim review prior to the companys filing of its Form 10-Q with the SEC. According to the Blue Ribbon Panels report, the  ³increased involvement by the outside auditors and the audit committee in the interim financial reporting process should result in more accurate interim reporting. 7. Provide a brief summary of each of the three fraud conditions. Additionally, provide anexample from the Comptronix fraud of each of the three fraud conditions. 1) I ncentive or pressure to perpetrate fraud  ± Bonus for superb performance. Company awardstock incentive to key employees2) An opportunity to carry out the fraud  ± Executive positions that may bypass existing accountsystem. I nternal controls are insufficient. Board of directors composes of mostly internaldirectors and acquaintances.3) Attitude or rationalization to justify the fraudulent action.  ± helped company avoidingreporting net losses. 8. Auditing Standards (AU) Section 3 16, Consideration of Fraud in a Financial StatementAudit, notes that there is a possibility that management override of controls could occur inevery audit and accordingly, the auditor should include audit procedures in every audit toaddress that risk.a) What do you think is meant by the term  ³management override ´? Management override can be defined as the possibility for management to circumvent internalcontrols that appear to work efficiently, in order to manipulate accounting records and preparing fraudulent financial statements directly or indirectly. As the internal control system is expectedto function properly, the ways in which management can override controls are unpredictable. b) Provide two examples of where management override of controls occurred in theComptronix fraud The executives were able to bypass the existing accounting system. They could record fictitious  journal entries of sales and purchases manually inventing some customer order numbers andquantities that did not exist and obviously were not cross-checked with other internal systems,like the customer order- or inventory system.  Next to that it was possible to record fictitious purchases of equipment without creating thenecessary documents accompanying such purchases. The internal control failed to detect thisirregularity.Another example is the possibility of overriding control systems over cash disbursements. With afictitious vendor invoice it was possible to make an accountant payable clerk prepare a check  without the necessity to crosscheck whether the delivery of the goods actually took place or anorder number generated by the vendor existed that should have been found on the invoice later  on. c) Research AU Section 3 16 to identify the three required auditor responses to furtheraddress the risk of management override of internal controls Paragraphs 58  ± 67 in Section 316 of the Auditing Standards by the PCAOB describe proceduresthat should be performed to further address the risk of management override of controls. Thethree main responses that should be undertaken by the auditor are as follows:1. Examining journal entries and other adjustments for evidence of possible materialmisstatement due to fraud.Material misstatements due to fraud mostly occur by:a. recording inappropriate or unauthorized journal entries throughout the year or at periodend or  Ã‚  b. making adjustments to amounts reported in the financial statements that are not reflectedin formal journal entries due to consolidating adjustments, report combinations andreclassifications.Therefore, the auditor should test the appropriateness of journal entries recorded in the generalledger and other adjustments. I n particular, the auditor should:à ®Ã¢â€š ¬Ã¢â€š ¬ Obtain an understanding of the entitys financial reporting process and the controls over  Ã‚  journal entries and other adjustments à ®Ã¢â€š ¬Ã¢â€š ¬ I dentify and select journal entries and other adjustments for testingà ®Ã¢â€š ¬Ã¢â€š ¬ Determine the timing of the testingà ®Ã¢â€š ¬Ã¢â€š ¬ I nquire of individuals involved in the financial reporting process about inappropriate or  unusual activity relating to the processing of journal entries and other adjustments2. Reviewing accounting estimates for biases that could result in material misstatement due tofraud.The assumptions and resulting accounting estimates that management has to make to prepare thefinancial statements affect the underlying accounting techniques and figures. Therefore, a lot of  fraudulent financial reporting is done by intentional false estimations of management. Theauditor ¶s task is to consider retrospectively whether single estimates are supported by auditevidence and whether the ones that underlie the reported financial figures widely diverge and, if  so, investigate whether the assumptions and accounting estimates were intentionally biased in  part of management. Thereby, the auditor should test those accounting estimates that are basedon highly sensitive assumptions or are otherwise s ignificantly affected by management  judgements. I f single management estimates were biased, affecting the financial figuresmaterially, the auditor should investigate whether there have been circumstances that led to this  bias and if these circumstances can constitute a risk for financial statement fraud. Also theestimates taken as a whole should then be re-considered by the auditor.3. Evaluating the business rationale for significant unusual transactions.Transactions that are outside the normal course of business for the company or entityinvestigated or that appear to be unusual should be investigated by the auditor . I t should also beevaluated whether there is an underlying rationale behind those transactions or whether they are  possibly an indication of fraudulent financial reportingTo understand the underlying rationale for the transactions in question, the auditor shouldinvestigate:à ®Ã¢â€š ¬Ã¢â€š ¬ Whether the form of such transactions is overly complex (e.g. whether it involves multipleentities within a consolidated group or unrelated third parties)à ®Ã¢â€š ¬Ã¢â€š ¬ Whether management has discussed the nature of and accounting for such transactions withthe audit committee or board of directorsà ®Ã¢â€š ¬Ã¢â€š ¬ Whether management is placing more emphasis on the need for a particular accountingtreatment than on the underlying economics of the transactionà ®Ã¢â€š ¬Ã¢â€š ¬ Whether transactions that involve unconsolidated related parties, including special purposeentities, have been properly reviewed and approved by the audit committee or board of directors à ®Ã¢â€š ¬Ã¢â€š ¬ Whether the transactions involve previously unidentified related parties or parties that do nothave the substance or the financial strength to support the transaction without assistance from theentity under audit

The Transcontinental Railroads :: essays research papers

The Transcontinental Railroads The Transcontinental Railroad consisted of ten major railroads that together would span the distance between the East and West Coasts of the United States. The completion of these railroads brought change, both for good and bad, and had an enormous impact on the United States and other countries of the world. Without a doubt, each railroad played an important role in shaping America into the country it is today. The Great Northern Railroad was an 8,316-mile long railroad created in September 1889 by predecessor railroads in Minnesota. It went from Lake Superior to Washington, traveling through North Dakota, Montana, and Idaho. The line was the dream of James Jerome Hill who was known as the â€Å"Empire Builder† since he had the ability to bring prosperity to areas that were barren before his influence. This railroad provided service and helped build up the grain, potato, and sugar beet regions in North Dakota, Montana, and Eastern Washington. It also played a pivotal role in the prosperity of the cattle counties of Montana as well as the oil, copper, and lumber industries (http://www.gnrhs.org). The Northern Pacific Railroad originally started in 1864 by Josiah Perham; unfortunately, due to financing problems the project was stalled until 1869. The route stretched from Lake Superior to the Puget Sound in Washington. This railroad was unique since it received no government loans to assists in its financing. The Northern Pacific lines were vital in bringing immigrants to various cities along the routes through advertising at home and abroad. Their effort to attract settlers into these regions was directly responsible for Montana, Washington, North Dakota and South Dakota becoming states in 1889. This stimulated the economies in these regions (http://www.linecamp.com). The Union Pacific Railroad was created in 1862 by government grants. Construction began in late 1863 in Omaha, Nebraska. Over a period of six years it was run through Wyoming and on to Promontory Point, Utah. The Union Pacific routes later expanded to reach north to Washington and south to Texas, with numerous subsidiary lines in Colorado. In 1936, the railroad opened Sun Valley, Idaho Ski Resort, which became a model for other ski resorts to follow (http://www.linecamp.com). The Kansas Pacific was the southern branch of the Union Pacific. The building of the route began in 1863 with the intent to transport passengers (immigrants) westward through the Great Plains. The route ran from Kansas City to Denver. Towns sprung up along the different junctions providing economic booms in those areas.

A Corporate Code of Ethics is Not Enough Essay -- Sarbanes-Oxley Act o

After news of the scandal of Enron, one of the hottest items on e-Bay was a 64-page copy of Enron’s corporate code of ethics. One seller/former employee proclaimed it had â€Å"never been opened.† In the forward Kenneth L. Lay, CEO of Enron stated, â€Å"We want to be proud of Enron and to know that it enjoys a reputation for fairness and honesty and that it is respected (Enron 2).† For a company with such an extensive code of ethics and a CEO who seemed to want the company to be respected for that, there are still so many unanswered questions of what exactly went wrong. I believe that simply having a solid and thorough code of ethics alone does not prevent a company from acting unethically when given the right opportunity. Investors and the media once considered Enron to be the company of the future. The company had detailed code of ethics and powerful front men like Kenneth Lay, who is the son of a Baptist minister and whose own son was studying to enter the ministry (Flynt 1). Unfortunately the Enron board waived the company’s own ethic code requirements to allow the company’s Chief Financial Officer to serve as a general partner for the partnership that Enron was using as a conduit for much of its business. They also allowed discrepancies of millions of dollars. It was not until whistleblower Sherron S. Watkins stepped forward that the deceit began to unravel. Enron finally declared bankruptcy on December 2, 2001, leaving employees with out jobs or money. For a company to be successful ethically, it must go beyond the notion of simple legal compliance and adopt a values-based organizational culture. A corporate code of ethics can be a very valuable and integral part of a company’s culture but I believe that it is not strong enough to stand alone. Thought and care must go into constructing the code of ethics and the implementation of it. Companies need to infuse ethics and integrity throughout their corporate culture as well as into their definition of success. To be successfully ethical, companies must go beyond the notion of simple legal compliance and adopt a values-based organizational culture. Creating a Solid Code of Ethics What a Code of Ethics Should Entail The importance of having a code of ethics is to define acceptable behaviors and promote higher standards of practice within a company. The code should provide a benchmark for... ...y’s code but to our own code. We must make the choice of what is right and wrong and if put in a situation that is against our code we must stand up for what is right. A corporate code of ethics is a necessity in today’s society, but the company cannot simply rely on just a code. For the code to be successful, the company must prove to their employees that they have the desire and drive to back the words of their code. Bibliography Enron. Code of Ethics. Jul. 2000. 20 Feb. 2005. . Flynt, Sean. â€Å"Enron Whistleblower Tells Chilling Tale of Corporate Ruin.† Samford University. Ed. Donna Fitch. 19 Feb. 2004. 3 Mar. 2005. . Hawkins, John. â€Å"The Path to Ethical Internalization: Moving the Code from the Wall to Daily Life.† Leadership Lifestyle. May. 2003 Johnson & Johnson. Our Credo. 18 August 2004. 3 Mar. 2005. . Wee, Heesun. â€Å"Corporate Ethics: Right Makes Might.† Business Week Online. Ed. Douglas Harbrecht. 11 Apr. 2002. 3 Mar. 2005. United States of America. One Hundred Seventh Congress. Sarbanes-Oxley Act of 2002. Sec 406. Brooks, Leonard J. Business & Professional Ethics for Directors, Executives, & Accountants. Mason: Thompson South-Western, 2004. p227.

Character Analysis of Dee Johnson in Everyday Use by Alice Walker Essa

Alice Walker crafts the character of Dee Johnson in the short story â€Å"Everyday Use† in a clever way. Starting from the first paragraph, Walker creates an image of Dee, who at first seems very shallow. Dee then becomes a more complex character as the story progresses. Blessed with both brains and beauty, Dee emerges as someone who is still struggling with her identity and heritage. Dee is a flat character, who is described as arrogant and selfish. Through the eyes of Dee, one can see her egotistical nature. Dee is portrayed as a light-skinned black person who feels as though she is better than everyone else because her waist is small, her skin is light, she has a nice grade of hair, and she is somewhat educated. Although she may be educated when it comes to college, she is not educated w...