Conflict Essay Example for Free

Conflict Essay The bringing of people together in social interaction necessarily involves a set of interpersonal dynamics which sooner or later will lead to conflict. Conflict between people or groups often arises from competition for resources, power, and status. Family members compete for attention. Individuals compete for jobs and wealth. Nations compete for territory and prestige. Different interest groups compete for influence and the power to make rules. Often the competition is not for resources but for ideas, one person or group wants to have the ideas or behaviour of another group suppressed, punished, or declared illegal. When you consider what a diverse society we live in, with so many different backgrounds, perspectives and approaches to life, it is not surprising that conflict is established as part and parcel of our everyday life. This is because people will have competing interests and competing perspectives in relation to the same issues, and so we should not be surprised when tensions exist between individuals and groups. Conflict is concerned with difference. If we were all the same, then there would be little or no conflict. However, thankfully we are not all the same, and so part of the price that we pay for the richness of diversity is that conflicts will arise at certain times. Conflicts are inevitable in ones organizational life and personal life. Conflict tends to have negative consequences for both the individual and the organization. Performance is adversely affected. Decisions made may not be appropriate. Occasionally, they might even be unrealistic or irrational. Thus, conflicts tend to impair one’s efficiency. Sometimes, conflict is also observed to give rise to certain maladjusted behaviours in individuals trying to cope with it. These include alcoholism, drug abuse, excessive smoking, under eating or overeating and extremely aggressive or submissive behaviour. Conflict has also certain physiological consequences in that, certain changes take place within the physiological system which are often ignored or unnoticed. Hence, it may be understood that conflict not only affects an individual’s performance, but also gives rise to psychosomatic disturbances, which undermine the health of the individual. It can also be argued that conflicts are not necessarily bad. The progress we have made so far in our civilization is due to the conflict between nature man. Conflict releases energy at every level of human activity, energy that can produce positive, constructive results. Conflicts tend to have a motivational value; they drive or energize an individual to tackle a situation. To resolve a conflict one might explore different avenues or alternatives of action, which make him/her more knowledgeable. Conflicts also provide opportunities to test one’s own abilities. Conflict can occur at personal level, interpersonal level, group level. It can be latent or covert. Causes of Conflict 1. Conflicts arise when people are competing for the same resources, when they are not fairly distributed or when there are not enough to go round. 2. Conflicts arise when the people are unhappy with how they are governed. 3. Conflicts arise when peoples beliefs clash. Religious and political views are particularly sensitive, because people often depend on these for a sense of identity and belonging. Sometimes the conflict is caused by a religious/political group being attacked; sometimes it is because the group is eager to spread a particular belief and even enforce it on others. Some leaders may aggravate religious and political differences as part of their tactics for keeping or gaining power. 4. In the same way ethnic differences can cause conflict, or be made to cause it. Again, peoples ethnicity gives them a sense of identity and belonging, and it is threats to this sense which can cause violent responses, just as individuals may lash out with angry words or gestures when they feel threatened. Causes of conflict in the work place The cause of workplace conflict is often misunderstood and blamed on personalities and misbehaviour, but in reality much workplace conflict is systemic and endemic to the workplace environment. Ineffective organisational systems, unpredictable policies, incompatible goals, scarce resources, and poor communication can all contribute to conflict in the workplace. Workplace conflict causes loss of productivity, distractions, and employee dissatisfaction. However, management can produce positive results by paying attention to and addressing the true causes of conflict in their organisations. Managing conflict Managing a conflict contains specialized interaction that prevents a dispute from becoming a destructive battle. Managing a conflict attends to the personal issues so as to allow for a constructive relationship, even though the objective issues may not be resolvable. For example, the former Soviet Union and the United States managed their conflict during the Cold War by using a variety of mechanisms. The objective issues in the dispute were not resolved, and neither were the personal issues, which contained significant perceptual differences. However, both sides attended significantly to the relationship to keep the disagreement from turning into a destructive battle. Ways people deal with conflict There is no one best way to deal with conflict. It depends on the current situation. Here are the major ways that people use to deal with conflict. 1. Avoidance. Pretend it is not there or ignore it. Usually this approach tends to worsen the conflict over time. 2. Accommodation. Give in to others, sometimes to the extent that you compromise yourself. Usually this approach tends to worsen the conflict over time, and causes conflicts within yourself. 3.  Competition. Work to get your way, rather than clarifying and addressing the issue. 4. Compromising. Mutual give-and-take. 5. Collaboration. Focus on working together. This approach sometimes raises new mutual needs. Effects of conflict Conflicts have positive and negative effects. They can lead to change if they are well managed, they can be used as a learning experience and they can be used to open up opportunities. However, prolonged conflicts can erupt into violence and disrupt the activities of the organisation, they may also damage relationships permanently and they can also lead to the death of an organisation. Change Most of us live and think as if the world were static, or as if it should be. As individuals, as professionals, and as members or leaders of organizations, too often the way we act, plan, and react betrays the assumption that tomorrow will be much like today, that well slide by all right if we just get a little better, a little smarter, at doing what we are already doing. Some people, and some organizations, fall apart in the face of change. They seem well organized until something changes in their environment. According to Robbins (1999), change is concerned with making things different. Things must be different because they change constantly. When an organizational system is disturbed by some internal or external force, change frequently occurs. Change as a process, is simply modification of the structure or process of a system. It may be good or bad, the concept is descriptive only. It may be constructive, destructive, comfortable or uncomfortable. People and organizations seem to have a pattern over their lifetimes. People and organizations that thrive on change share some fundamental attributes. Change is fractal: its basic nature looks the same at different scales. So the attributes that make an organization powerfully adaptive also make a relationship flexible and fruitful, a community liveable, and an individual creative, adaptive, and secure in the midst of turbulence. It is not possible to change an organization without changing oneself. Changing oneself will change an organization. The two are inextricably linked. If people seriously intend to help their organization go through the massive changes, they must set out on a path of changing their own lives, of learning the skills of change and applying them first to themselves. Any change is, in part, physical. It can be understood in one’s head, but until it lives in their body, it wont change their behaviour. If a person wishes to be different, that person must learn to move differently, to make different physical decisions. Stick to your knitting, turns out to be a useful thought for dealing with change. However, at the core of every truth is a fallacy, a route to a deeper truth. The fallacy at the core of stick to your knitting is the invitation not to change, to stay satisfied with the way we are. Many of us have a grudging acceptance of the need to change. The reality is that every change is a new skill, one that takes time and attention to learn. If I wait to change until I am forced to it, I will be too late. To wait until change is forced on me is to stay perpetually behind on the learning curve. Whenever a person is trying to change something in his life, they should always remember that change without getting rid of the beliefs that cause the current behaviour or feelings is almost impossible. Furthermore, change probably is difficult when one is onvinced that they either saw or felt the belief causing their current behaviour or feeling on numerous occasions earlier in life. When they realize they never saw their belief and they caused the feeling, not reality, their belief will just dissolve. Today change is the essential of survival and a way of carrying out business. Every business firm whether big or small has to change with time or it will perish. This change along with it brings insecurities and pain that forces human beings or individuals to come out of their comfort zones to zone of uncomfortable debate and this leads to resistance to change.

Comparison of Marketing Strategies in Banking Industry

Comparison of Marketing Strategies in Banking Industry 1. Introduction There has been progress and advancement in the field of finance and business due to the widespread use of information technology. Banking Industry has proved that it is far ahead due to the implementation of several technologies and most of its industries and businesses are doing exceedingly well because of this. In todays times, when one is interacting with banks and other financial institutions there is a gap in services which is felt by the demanding and upmarket consumer. Due to this banks have had to pull up their socks and turn around their operations by introducing sophisticated means of conducting business. They have hence provided ATMs (automatic teller machines), computer and internet banking, phone banking and banking kiosks are proving to be alternative means to benefit from the banking services in a comfortable and convenient manner. According to scholars Wong (1998) and Kimball Frisch (1997), e-channel, also known as innovative distribution channel or online banking, as per Daniel (1999) or technology-intensive delivery system, says Filotto et al. (1997), is interpreted as the approaches used to deliver financial products using electronic media such as personal computer, the telephone and the Internet, say Dannenberg Kellner (1998). The ATM as a matter of fact is the most commonly used electronic distribution channel that aids the customers of a bank to conduct their banking transactions, which could be deposits, withdrawal or balance enquiry 24-hours a day. All banks in Malaysia provide ATM services coupled with the phone banking option. As the customer service department has been centralized services such as phone banking, account balance enquiry, instruction to issue bankers cheques and giving standing instructions are services which can be executed for all. Though a call will first reach an automated respo nse system, a customer may want to talk directly with a service representative. The phone banking facility is available 24 hours a day. Some examples are Direct Access of Southern Bank, Tele-banking of RHB Bank and Maybank. Phone banking, or also known as remote e-banking, self-service banking, home banking and office banking, is the third type of e-banking. There is internet banking as well which makes use of the Web. This is a comfortable way of finding out the balance in your account, if you need to transfer funds or request for a cheque book, and make the payment of bill, and can be done at home or while you are in office. Within three years, marketing companies believe that the financial services business over half of the customers will use the Internet to make themselves knowledgeable about the new financial services, products and search for more information, if they do need it. This number can even go higher in a short period of time. LIMRAs optimizing Opportunities with Online Consumers (2007) came to the conclusion that around out of 10 online customers, 7 say that they expect to check products, prices, grading and details of the company on the internet. These findings show that there is plenty of opportunity for people to make use of the internet to introduce opportunity within a large number of prospective customers. As the World Wide Web continues to grow, the expectation of the user and his behaviour are also changing. Potential customers now have the skill to develop content online and play a proactive part in creating and sustaining relationships with companies they are able to find online. This dissertation aims at exploring the effectiveness of e-marketing in banking industry and its impact on the industry. 2. Problem Statement In order to increase the customer base, the marketing team of a bank uses content and illustrations in direct mail or ad campaigns to attract and draw customers towards it schemes and products. Of late there has been an increase in tele-callers as well who persistently call and promote the various products available. On the Internet, which is fast-paced in form and function, banner ads and smartly written click-to-pay has become a trap to captivate customers. The other level is keyword buying from Google and other search engine providers, and especially the buying of regional keywords. This one is a fresh technique used to bring the surfer to a website, where he or she will find ways to do business with your bank. The use of technology in the marketing of service industry especially banking industry is not such a new concept. Its been used and have been in use for various countries but it should have a key focus which will be discussed in this research. 3. Research Question What is the effective e-marketing tool(s) used in bank industry marketing? Evaluate the comparison between UK and Indian Banks? 4. Research Objectives The key objectives of the research are: To evaluate the various marketing strategies used by the banking industry. To study the effectiveness of different marketing strategies used. To examine the various e-marketing methods used by the service industry. To study the effective e-marketing tools used by UK Banks. To study the effective e-marketing tools used by Indian Banks. To evaluate the comparative analysis between e-marketing tools used in UK Bank and Indian Banks. 5. Literature Review The Meaning of Marketing Marketing has a two-way definition when it talks comes to discussing corporate activities. Firstly, it is used to adjust its resources on a constant scale so as to satisfy its chosen customers and in doing so to offer social and financial benefits. This is being tagged as marketing concept and stresses on the accountability of senior management to keep an eye on the situation and acclimatize oneself to changing situations. The scholar Levitt (1983), is a promoter of this concept. The other definition is to perceive marketing as a subject of demand management, primarily a technology to affect the behaviour of customer groups. This method is tagged as marketing management and it stresses the accountability of operational management to stage-manage demand in support of the business. It handles the selection of target markets, collection of appropriate offerings and stresses on advertising. According to Anderson (1983), it has many advocates as this been in the thoughts of most marketing theorists to date. Marketing in Banking The UK clearing banks have a branch network which is similar the field sales force of a production company. It is through these branches that customers are able to make use of the services of the bank. The branches work as outlets through which the banks policies are put forth, its relationships with its customers is tackled and the markets are surveyed and intelligence reports are gathered. Hence the branch and its management seem to be pivotal to any marketing exercise and their behaviour towards marketing an essential element in its acceptance. It may be debated that technical transformations like cash dispensers, credit cards and other electronic modernization is taking the customer further and further from his branch and he is becoming a stranger with the staff of the bank. The branch of the bank is the main crossing point with the customer and these very alterations are likely to increase the value of the branch as a stage for business development and cut down on its role as a performer of money transactions.Whether marketing in the short term has improved the situation of a company by the results achieved in their branches, management is likely to introduce marketing. In the initial days when bank marketing was introduced in the UK, there were some doubts about the capability of a conventional line of work to acknowledge what appeared to be a different method to take up. The procedure and the concerns linked with the application of marketing to financial services is hence special interest to students of marketing and ba nking. Indian Banking Scenario In the 1960s marketing in banks began in its most conventional form of publicity and public relations. Even though they functioned within the stipulation that there can be only small changes among individual banks, the marketing environment of a bank has since then changed to a large extent. Today banks are facing strong opposition from the foreign, private and public sector banks, and there is a pressure from other financial institutions. Financial institutions are not only better placed statutorily, they provide higher returns and a handy product-mix which offer tax rebate benefits as well. A far as the supervision of their marketing function is there, these companies are better supervised and administered. While, it is discouraging to observe that the immense boost received by the banking sector thanks to nationalization has not been factored in in productivity and profitability, on the other hand, its cost of carrying business has gone up, its bottom line has dropped and the disp arity between the anticipated and perceived quality of customer service has also become broader. As a result, the banking sector has been under strong criticism by the Government and the public alike. In order to make their business environment more positive, in the last few years, banks have adopted various steps which are initiating creative schemes; organizing processes to reduce paper work and delays; introducing teller systems; competent enhancements in the look and feel of the banks branches; looking up the model, expert and service branches; offering extra boost to their publicity initiatives; creating customer service bodies at the banks offices; carrying out customer relations programmes; establishing customer service departments at the head office of banks; making courtesy weeks/fortnights, customer service campaigns and door-to-door surveys; setting up May I help you? counters and placing public relations officers in large branches. These reactions of the bank show that may be they have woken up to a logical way of marketing their financial services, and to think beyond the narrow course of marketing as publicity and public relations held so close by them. UK Banking Scenario In developed countries, though industrial and consumer goods industries have increased their marketing exercises, service companies and the banking businesses seem to be slow in taking up and enforcing the marketing concept, for case studies in various countries, say Watson (1982), Donnelly Berry (1981), Lewis (1981), Cramer (1968). To the best of the present authors knowledge, there are no researches of bank marketing in developing countries, more so in Turkey. As Turkey becomes more liberalized and industrialized, marketing of bank services becomes crucial to its economic development. Also, data about bank marketing is important for foreign bankers, international monetary agencies, domestic policy makers and overseas businesses which deal with Turkish markets. Technology Marketing in Banks The banking industry would not have been so sophisticated and evolved had technology not been harnessed to its maximum. There have been a number of factors responsible for its progress and evolution. Broad economic trends and social forces, toned down by government policy and controls, become the environment within which progress occurs, and the level of oppositions largely decides the rapidity of amendments. Technology is a way to prevail over obstacle and expenses, but in recent years it has become all-embracing and advocated change. It has also been accountable for the rise in superiority of marketing in the supervision of banks. There are two factors why only providing a gist of a single banking system at the present time would be insufficient to study the influence of technology. The first is that the application of technology is unequal among countries and period of time, and the other is that technology is growing very fast and will continue to do so. There is a time gap before technological developments are implemented and we need to know what decides this gap. The only way to move forward is by way of a historical study, sketching an outline of the parallel progress of technology and banking operations since the 1950s and perhaps into the future. Technology and Marketing It is a well-accepted fact that the value of marketing in dependent on the level of opposition in a certain market. Since 1950s, competition has shot up in all banking markets, and it continues to grow with the existing trend of de-control, which focuses on getting rid of structural barriers between types of institutions and market, while escalating the control for prudential objectives. In this environment and period, the growing worth of marketing departments is not alarming. Even a perfunctory glance at marketing literature reflects that the contribution of bank marketing has undergone a change in this period. Some writers have typified three different stages through which it has progressed the first stage was the one in which marketing was restricted to advertisements that reiterated the banks strong points; the second was one in which the bank was proactive in marketing its new products; and the last stage began when banks tried to find out and match the actual requirements of the customer. In the first stage there was not much that a marketing department could do, however, in the second and third stages marketing had a powerful role to enact in bank management. In the second stage, technology took on an important role in bank marketing, with the design of new products. One mode that was adopted was to put up accounts for depositors, which often had a layering of interest rates as per the size of balance or a rate that altered daily and weekly with money market rates. Others offered some connection between two different accounts, perhaps a current account and an interest-bearing account; when the latter account was operated by a building society or savings bank that had little influence to offer current accounts, transfers between the accounts included two institutions. It was typical of banks in the second marketing stage to get lazy and so slow down the customers from making the most of the power to minimise their current balances day by day; in the third phase they are expected to meet the customers requirements, but it is surprising how few of them have yet to provide sweep accounts so that the current account balance is exactly zero by the end of the day. These features of the new accounts would have been impossible without support from the computer. The third stage is the one in which marketing becomes the superior part in the strategy of the banks, when marketing departments lose their shine as the banks management, at the highest levels especially, must comprise of people who have experience of marketing. It is also a stage in which the method is to fractionalize the retail customer base. Banks which provide payment services can easily beat the rivals on the basis of their computer record of the traits and the financial behaviour of their customers. Technology is hence vital for this stage but it would be wise to remember that technological support for new products and segmentation has been in existence since 1980 in the form of mainframe computers; the only new thing is the addition of new software. 6. Research Methodology Research approach The researcher took on a case study method to get a detailed understanding of how e-marketing Industry. As per Denscombe (2000) when emphasizing on one or few research units with the objective of obtaining detailed information, the best method is to take up the case study approach. As per Yin, when the researcher has almost no control over happenings and when the stress in on a certain event in real life and to answer how or why questions, case study is the preferred method approach. Case selection By using random sampling techniques, the researcher found 4 banks which include 2 from each country i.e. UK and India. One public and one private sector bank was chosen for both the countries. As per scholars Hunt Shelley (2004), a qualitative method makes the researcher grasp and construe the qualitative character of the information. The way forward keeping the qualitative aspect of the study in mind will include an in-depth study and assessment of the existing research and techniques applicable to the specific research problems, involving environmental issues within the marketing mix and policies created by the companies. The purpose is to fully grasp the way the companies create marketing strategies to remain in the competitive market. Data collection Primary data: According to Denscombe (2000), for an in depth knowledge and understanding of the importance of e-marketing strategies in in Bank. The researcher used a face-to-face interview as the most apt method. This would not only enable him to seek information, but also give him an opportunity to seek detailed clarifications on the thoughts. Walshman (1995) had stressed on the advantages of personal interviews as one of the best ways to record the views and aspirations of the interviewee. The researcher faced problems such as limitations on the selective thoughts of one person, inconsistencies due to rigid beliefs of the interviewee, collation of voluminous data, transcription by using this methodology. To gather information from the interviewee, the scholar has suggested to use the semi-structured interview guide as interview questions would differ as cases had very different strategies. According to Walshman (1995) interviews provide the best way to understand the views of the participants regarding the actions and events, which have or are taking place and the views and aspirations of themselves and other participants. In qualitative approach there is the extra benefit of permitting the researcher to go back to the drawing board and assess the understanding provided by the respondent in more detail as compared to other methods. The interviews will be carried among managers of the companies who are accountable for the creation of green marketing strategies. The researcher documented the responses and also simultaneously recorded them to transcribe later. The researcher will be going for 5-10 interviews from each bank. Secondary data collection Secondary data is gathered from different sources such as websites, annual reports, books, journals and articles and case studies. The objective this information gathering is to find out the related data regarding strategies adopted by the Trident Solutions. Pilot study: A pilot study was carried out among interviewees to ensure that the terms used are correct and suitable. As per Denscombe (2000, p 135), interview will be held using the face to face approach in order to aid the interviewer to ask questions which were not in the interview guide depending on the respondents answers. Data analysis The information was studied using content analysis. After the interview got over, information was cut down to recognize the patterns and themes and obtain a clear understanding. As per Ghauri and Gronhaug (2005) information was explored, studied and classified based on the questions in the research questions. If more information was needed or when new questions arose, then another round of data collection would be conducted.

Private Limited Companies Advantages and Disadvantages

Private Limited Companies Advantages and Disadvantages Financial Accounting Is the information to make decisions related to the organizations, it begins with the principles, concepts, and applications of financial accounting. Financial Accounting follows a set of rules and legislation known as accounting concepts, accounting policies, and procedures like the entity and prepayments. Financial Accounting explains for us what are the financial statements, tells us what are the rules of legislation while they are getting prepared, shows us how the financial accounts are prepared, helps us to understand how the various fields of business work together. It also keeps tracks of companys financial business like the cash flow and cash inflow. It provides stakeholders with official information like for Example: balance sheet account, profit and loss account, trading account. Sole Trader: It is owned by only one person, that has no exact legislation and has one or more employees, their main aim is to make profit. Sole Trader Advantages: They can make decisions easily and quickly Owner can control anything. Less legal formalities. It is simple to set up Sole Trader Disadvantages: Lack of capital. They have to work and think hard because For Example: If the owner is sick, they will not be able to work. Unlimited liability. Partnership: is between 2 to 20 partners or shareholders that works together and easy to setup, the owners share with each other the profits or losses of their business, and their main aim is to make profit. Advantages of a Partnership: It is easy to setup by the deed of partnership More capital is available. There are few paper to work on Disadvantages of a Partnership: Lack of goals to be achieved Unlimited liability Profits have to be divided between the partners Private Limited Company: Is known as ( LTD), it must have one or more director, they do not need a trading diploma, and it offers limited liability to its shareholders but it places certain limits on its ownership. Advantages of Private Limited Company: Limited liability. More serious than the status of a sole trader. Disadvantages of Private Limited Company: The corporation tax has to be paid. Cannot sell shares to public. Public Limited Company: Is known as PLC , its a company whose shares may be purchased by the public and whose share capital is not less than a statutory minimum, and must have minimum 2 directors. Advantages of a Public Limited Company: greater borrowing power the shareholders have limited liability shareholders can sell their shares freely to public Disadvantages of A Public Limited Company: The personal touch may be lost Published accounts have to be prepared Difficult to control and manage Too many legal formalities Clubs: It is the business that is connected from two or more people that has the same goal that they want to achieve. Their main objective is to provide services to the community Charities: It is known as the charities that we know for foundation like Dubai cares. Their main objective is to help other peoples or countries that are unable to pay for their needs and wants. The Advantages of being a Charity The Charity task can provide advice and information to assist a charity administration. Charities are not liable to pay Corporation Tax which is charged on clubs, societies and voluntary organisations. The Disadvantages of Being a Charity Limited rules that are carried on by charities. Trustees are not generally allowed to benefit financially from the charity. Companies Act ( 1985 ) Is the act of the congress of the UK, which will help the companies to register and to set responsibilities of the companies, their secretaries and directors. The act was the instance of consolidation of many other pieces of company legislation, and was one constituent part of the rules governing companies, it was governed by its own articles of relationship. The act is applied only to companies that will form into a legal corporation under it, or under older companys acts. In the act limited liability partnerships, sole traders, and partnerships were not governed by it. Companies Act (1989) Is an act to amend the law relating to the accounts of company, to make new provisions, to amend the companies act 1985 with respect of powers to get information, to create new provision with respect to the registration of charges in the company and to modify the law related to companies, to rephrase the fair trading act 1973, to allow provision to be made. Partnership Act (1890) Its the relation which exists between persons holding on a business in common with the view of profit. No interest is to be charged on drawings. Profits and losses are shared equally among partners. The relation between members of any company like: It is not a partnership within the meaning of this act Registered as a company under the companies act 1862 Rules for Determining Existence of Partnership To determine whether a partnership does or does not exist, you should follow the rules: Joint property, Joint tenancy, tenancy in common, common property, or part ownership does not of itself create a partnership, whether the owners do or do not share any profits made by the use The sharing of gross does not create a partnership, whether the persons sharing returns have or have not a common right or interest in any property Accounting Concepts Business Entity Concepts: It is a separated business and completely different from the owner at that business. It also can be applied to limited business like the charities. The owners personal spending is not recorded in the books at the business. The owners personal transaction appear in the book is when the introductions capital or makes drawings. Materiality: It is a rule which applies to the materials that are not always included in accounting rule; its applied to sole traders, partnership, limited companies, clubs and charities. Going Concern Concepts: It is the statement that business will continue operating in the future except if there a strong evidence or if there a weak evidence, the value is not taken from their break-up value which is the amount that they can sell it in a slow way. In final accounts of a business one of them prepares on the basis that there is no intension to close down the business. Accruals (Matching) Concepts: It is the income that will be received in some trading, lost profit and loss accounts. They should be given out from time to time to be paid. It also allows some people to go against other accounts if the amounts were so small that will be misled, in another words its when we have use something in a period of time. E.g.: bill phone, gas bill, and water bill. Prudence Concepts: It states that the inventory and the profits should not be expected but also included in the profit and loss account. This concept is known as conservation, If we applied this concept ensures that the account present a practical pictures of the state of the business. This concept is applied for making provisions for reduction of debts and stock valuation. Consistency Concepts: It is a way that accounting method uses it to there business, and the business has to keep on using it from time to another. In some areas of accounting a choice of method is available, and when it will be chosen, then they should apply it consistently from years to years. Money Measurement Concepts: It shows the transactions that can be used in monetary terms and in using measuring unit for financial reports. The account at a business only records the information which can be expressed in monetary terms. The value of a good manager that contains loyal work force, high stall morale, will make great benefits to the business. Historical Cost Concepts: It is the account that asset the price and the balance sheet that is based to an original cost when the company require it. Duality (Double Entry) Concepts: It is only one account that is joined together. For every transaction there is aspect in accounting that is made on the basis. A giving and a receiving is known as Dual Concept of all transaction. This is known as double entry. Principles of Relevance Concepts: It is a fact that is known to be gathered from one point of view and keep it. Reliability: It is a degree of person, measure, or object. It is important that profit is only recorded when it has actually been earned. Profits are not regarded as being earned when a customer places an order for goods. Profit is regarded as being earned at the time of goods or services pars to the customers. Comparability: It is the quality of the things that is used in business. Information in financial statements in a business can be more useful. it is compared with similar information about the same business for some other period of time or with other similar information about other business. Understand ability: Its how you understand the others and be able to talk and communicate to them. Information should not be omitted from the financial statements because it is believed it is too complex for users to understand financial statements must be capable of being understood by the users of those statements. Principles: They have two types in UK and US In US they have a lot of rules but when they prepare for their account they use the rule book and if it doesnt cover the rules, the rule book is approved to be used. In UK there is a general law applied to the accounting practice, but the only difference between US and UK that in UK they have an over riding requirements, the account has to be required it is called true and fair views Conventions: It is rules and procedures which are followed by all the organization it also guides the organization for the preparation of their accounts. Rules and Procedures Which Apply To Financial Statements: Financial statement shows only the business that can be given in a monetary terms. Depreciation: It is a company that has the free choice in choosing the company policies, procedures, and also it will affect on the reduction of the money amount that is used in your normal time in life. The organization has two methods to choose from: the straight line depreciation reducing balances Each method of them will result with a different amount of depreciation being charged against the profits. Bad Debts: The balance sheet reflects the amount of the money that the organizations owing it from sales, there is a lot of debtors that may not be able to pay the full amount. So The organizations need to allow a percentage of bad depts. The organization can choose what percentage they want and when to write the bad debts to make a provision, at the end it will affect the over all profit recorded. Provision for Doubtful Debts: It is a small amount that is set aside for something very expensive or something will happen later in the future (Debtors who may not pay their bills to the company) , they usual state the percentage of the great trade debtors. In future accounting, the profit periods would be twisted if the entity suffered a whole series of bad debts. So it seems cautious to allow for the chance that some debts may become bad. Accruals: It is an amount due for a service provided during a particular accounting period but still not paid for at the end of it. We should include them in our accounting before the year ends to show the true and fair views the organization need to ensure that this accounts is complying with accounting concepts. The addition will be included in the amount charged to the profit and loss account for the period as part of the cost of the service provided. Prepayments: It is an amount paid in cash during an accounting period for a provision that will be provided in a later period. Prepayments made will be deducted from the amount charged to the profit and loss account. Valuation of Stock: It should be valued at the lower cost and to be on the net value to observe with the conservative and caution concept. It has three main methods of valuing stock: FIFO LIFO AVCO Each will lead to different value and will affect the profit level. The Similarities and Differences of Sole Trader and Partnership Sole Traders: It is owned by only one person. One has to keep careful evidence if he is self-employed. If the business falters; his personal assets are likely to be liquidated. They dont need to divide there profit. Its easy to set up. Partnerships: Its owned by two or more people together. Profits are shared either equally or as per the terms given. If profits are to be shared, so are the liabilities too. Partners can profit from limited liability and collect tax advantages. Application of Accounting Conventions and Regulations We have in accounting a concept called true and fair view which help to ensure that accounting information is presented accurately and consistently. The most commonly encountered convention is the historical cost convention This requires transactions to be recorded at the price ruling at the time, and for assets to be valued at their original cost. Under the historical cost convention, therefore, no account is taken of changing prices in the economy. And there are other conventions in accounting we can summarize as follows: Monetary Measurement: Like workforce skill, morale, market leadership, brand recognition, quality of managementà ¢Ã¢â€š ¬Ã‚ ¦And the accountants should not account for items unless they can be quantified in monetary terms. An important convention.. The concept of materiality is an important issue for auditors of financial accounts.

scuba diving :: essays research papers

Many people think of scuba diving as just a swim in the water, but in reality it is a very exciting, dangerous, and potentially fatal sport and activity. There are many types of scuba diving, ranging from recreational to sport to career diving. Scuba Diving is just not a swim in the water, scuba requires certification, uses technical equipment, and there is a lot of risk involved with scuba diving. Scuba, which is actually an acronym for â€Å"self-contained breathing apparatus†, Allows divers to dive deeper and stay submerged longer. Scuba comes a long way from other forms of diving by using an air-tank and regulator. This is what allows them to stay under longer and dive deeper. Scuba originally began with military and commercial applications, where it is still used today. But now, by far the largest group of divers is â€Å"Recreational Divers†. These dives are practiced at depths of less than 130 feet, from these depths, divers can make a straight ascent to the surface. Diving beyond this limit requires advanced training. (Lawrence, 4) Before recreational or sport divers can take a plunge into the water, they must complete a course in scuba diving and become certified. There are many scuba diving agencies, the largest being PADI, but there are many others, including the National Association of Underwater Instructors and the National Association of Scuba Diving Schools. All agencies require that participants be proficient swimmers, in reasonably good health, and at least 12 years of age. The course usually consists of classroom work, practice in a pool or confined body of water, and dives in open water. In the course, students learn to use diving equipment, to equalize air pressure as they descend, to swim efficiently underwater, to clear the mask if water leaks in, and to ascend safely. Because divers cannot talk to each other underwater, they also learn how to communicate underwater with hand signals. Scuba diving should always be practiced with at least one other person, and partners should remain together throug hout the dive. Certification courses teach divers the rules and advantages of the buddy system. Diving partners learn to double-check each other’s equipment, share a single air supply, and assist one another should a problem occur. Neutral Buoyancy is an important skill taught in certification class. Neutral Buoyancy is a state, in which the individual neither sinks nor floats. In this weightless state, a diver conserves energy and air and keeps diving equipment off the bottom where it could be damaged.

Reservoir Dogs :: Art

Reservoir Dogs Gangsters, violence, murder and corruption !!!!! If these are some of the things that you're into, then this is your kind of movie. Be ready to watch it more than once to be sure to get all the movie has to offer because it jumps from subject to subject and can be a little confusing. The movie on the whole was really great. It was filled with some pretty gory scenes and extreme violent content, Tarantinos' trademark. The way he portrays the real life aspects of crime and violence are unbelievable. I wonder if he experienced some of these things himself and that's why he has a realistic view of them. Then again, I can't really gauge how realistic any of these themes are because after watching this kind of movie it makes me feel like I lead a really sheltered lifestyle. Why does all the violence in Tarantinos' movies become so attractive to us normal people? I think it's because most of his material is underworld stuff. He deals with things we can barely relate to. Topics that are so far fetched to a "normal" person that they kind of hypnotize us into watching. Things happen in his movies that are so bizarre, we can't begin to imagine them happening to us in real life. The weird part is, many of these things DO happen every day. We all know there really are gangsters, mobsters and really low-life people that involve themselves in what we think of as underworld crime. Drug deals.... on a level so great... amounts we can't begin to comprehend. Murders, for whatever reason. Even the thought of hiring someone to kill someone else gives us a goose bump or three. In his movies it's almost like borrowing a cup of sugar from your next door neighbor. Chopping off someone's ear would repulse me and probably make me want to spew my lunch. Tarantinos' characters chop off ears then talk into them as if they were using ma bell. His characters attitudes are totally ruthless. They could give a shit if you were the cousin of the president or a nanny. They have a job to do and they do it. No holes barred, no questions asked, no thought given to actions or consequences. They are almost like robots, zombies of the underworld that have no emotions or respect for the value of life.

You Are What You Eat

Lauren McFall Mr. Gossett English 10H-4 March 17, 2008 You are What You Eat Throughout the past twenty years, obesity in the United States has drastically increased. Currently, one-hundred and seventeen billion people in the United States are obese. Out of those people, three-hundred thousand people die each year because of complications due to being over-weight. One out of every four children in the average school in the United States is over-weight. In an effort to combat this growing obesity epidemic, concerned members of the school community have petitioned the GRCSS School Board, recommending that high-calorie beverages in school vending machines and high-fat-content food items currently available from the hot-lunch menu be replaced by more healthful alternatives. Admittedly, one concern is that many schools have a hard time budgeting this kind of substitution. Healthful foods are currently more expensive for schools to provide, and also, schools worry that children who are addicted to eating their high-fat junk food will not buy healthful foods if they substitute them, decreasing income used for extra-curricular activities, sports, clubs and more. It is also true, of course, that some students will instead, bring in their own junk-food and high-calorie beverages from home. These concerns for altering the hot-lunch menu are genuine. However, if high-calorie beverages and foods in schools are replaced with more healthful alternatives, some children will establish more healthful eating habits at young ages, and carry that over with them into adult-hood. Schools that have made the switch have said, â€Å"It’s not true that children will only eat junk, they just need healthier choices. And granted the school may suffer financially, a school free of vending machines and fast food in the cafeteria values the well-being of their students. Another reason this switch could be beneficial is because research has shown that the high sugars in soda can be linked to hyperactivity, anxiety and difficulty concentrating. Children who eat junk food and drink regular soda are not getting essential vitamins and nutrients, decreasing the efficiency and effectiveness of their education in the classroom. Those students who take in their daily amounts of fruits and vegetables, and eat overall healthier meals, will feel better and have greater intentness in the classroom. Clearly, then, it is in the best interest of the students of schools that high-calorie beverages in vending machines and high-fat-content food be eliminated from hot-lunch menus. Not only will it establish more healthful eating habits in young-adults, but it will hopefully also limit the sickening statistics of obesity in our country. You Are What You Eat Lauren McFall Mr. Gossett English 10H-4 March 17, 2008 You are What You Eat Throughout the past twenty years, obesity in the United States has drastically increased. Currently, one-hundred and seventeen billion people in the United States are obese. Out of those people, three-hundred thousand people die each year because of complications due to being over-weight. One out of every four children in the average school in the United States is over-weight. In an effort to combat this growing obesity epidemic, concerned members of the school community have petitioned the GRCSS School Board, recommending that high-calorie beverages in school vending machines and high-fat-content food items currently available from the hot-lunch menu be replaced by more healthful alternatives. Admittedly, one concern is that many schools have a hard time budgeting this kind of substitution. Healthful foods are currently more expensive for schools to provide, and also, schools worry that children who are addicted to eating their high-fat junk food will not buy healthful foods if they substitute them, decreasing income used for extra-curricular activities, sports, clubs and more. It is also true, of course, that some students will instead, bring in their own junk-food and high-calorie beverages from home. These concerns for altering the hot-lunch menu are genuine. However, if high-calorie beverages and foods in schools are replaced with more healthful alternatives, some children will establish more healthful eating habits at young ages, and carry that over with them into adult-hood. Schools that have made the switch have said, â€Å"It’s not true that children will only eat junk, they just need healthier choices. And granted the school may suffer financially, a school free of vending machines and fast food in the cafeteria values the well-being of their students. Another reason this switch could be beneficial is because research has shown that the high sugars in soda can be linked to hyperactivity, anxiety and difficulty concentrating. Children who eat junk food and drink regular soda are not getting essential vitamins and nutrients, decreasing the efficiency and effectiveness of their education in the classroom. Those students who take in their daily amounts of fruits and vegetables, and eat overall healthier meals, will feel better and have greater intentness in the classroom. Clearly, then, it is in the best interest of the students of schools that high-calorie beverages in vending machines and high-fat-content food be eliminated from hot-lunch menus. Not only will it establish more healthful eating habits in young-adults, but it will hopefully also limit the sickening statistics of obesity in our country.

Weber and Marx: Inequality

Marx vs. Weber in today’s society Marx and Weber have not lived within the same social conditions we are facing today, and one question that may arise is, whose approach to social class and inequality is more compatible with today’s society? Taking a closer look at Weber’s analogy, and the concept of â€Å"life chances†, one may attempt to conclude that his approach is more flexible and fitting in today’s society. Weber offers a micro level analysis of inequality at the individual’s level, which makes his approach more versatile.Furthermore this approach can explain the changes in regards to class determination by the market situation over time through the concept of life chances. Marx is known for putting forth a theory of classes that is centered on economical grounds where â€Å"society [†¦] is [†¦] splitting up into two great hostile camps [†¦]: bourgeoisie and proletariat † (Marx, 1978, p. 474). Belonging to either class will depend on whether you own the means of production or not; from this system stems inequality.Weber takes a step further then Marx, and discusses other social forces then economical one, that influences social class and inequality. Weber put central importance to the concept of power, â€Å"the chance of a man or a number of men to realize their own will in a communal action even against the resistance of other who are participating in the action† (Weber, 2003, p. 95). The way power is distributed creates â€Å"three discrete but interrelated realms [classes, status groups and parties]† (Weber, 2003, p. 94).These three dimensions in relation to power are used to explain inequality. Distribution of power among classes leads to unequal access to material resources since classes are â€Å"purely economically determined† (Weber, 2003, p. 99). As for status power, one’s â€Å"social estimation of honor† (Weber, 2003, p. 99) determines the capac ity to exercise power upon those who view him or her as a superior. Class and Status power â€Å"influence one another and they influence the legal order and are in turn influence by it† (Weber, 2003, p. 99).Parties on the other hand, focus on gaining social power that enables them to have influence on decision-making. From Marx’s Manifesto of the communist party (1978) one can concluded that the Bourgeois and the proletariat are mutually dependent on one another, but this does not make them equal in a capitalist society. Weber does agree that the capitalist society and the â€Å"economy has a particularly determinative impact on the social order and power† (Weber, 2003, p. 94). However Weber points out that individual still have agency and â€Å"a relative autonomy to culture and politics† (Weber, 2003, p. 94).Hence, the determination of class-situation by the market situation cannot be exclusive to Marx view based on the relationship to the means of pro duction. Weber’s puts forth a concept of â€Å"life chances† which entails that even the dominated still have a scoop of choices. In today’s society, these choices have expanded and become more equal. For example, today’s market is seen to be a knowledge-based market, where higher education and skill set is given more value. Those in lower classes also have a possibility to compete in the labour market since higher education is becoming more accessible to everyone.Weber’s approach gains versatility by looking at the role of social action and therefore takes into consideration an individual’s â€Å"rationally motivated adjustments of interest† (Weber, 2003, p. 97). Marx’s approach focuses too much on the economical conditions, and although it may still be relevant today economy, it fails to accurately predicted other dimensions of life that have influenced social class and inequality. A shift to a knowledge base labour market an d increase in higher education accessibility has improved individuals â€Å"life chance†.However upon putting forth the argument that individuals have more choices now then before, one may questions the true intention of these choices. It could be, as Marx may suggest, an illusion of choice set forth by the dominant classes to prevent a revolution from the dominated class. Reference: Marx, K. and Friedrich E. (1978). Manifestation of the Communist Party. The Marx-Engels Reader, (2nd ed), edited by Robert C. Tuker. 473-483. Weber, M. (2003) Class, Status, Party. Social Theory: the Roots and Branches, edited by Peter Kivisto. 95-100.