Sustainability Governance Characteristics Method †MyAssignmenthelp

Question: Discuss about the Sustainability Governance Characteristics Method. Answer: Evaluating and identifying the threats haunting auditor independence: There are certain threats to auditing independence, which is why audit evaluation follows Generally Accepted Auditing Standards. Auditor independence meaning states that freedom of conducting ethical auditing without any interference fromexternal or internal parties. Arens, Elder and Beasley (2014) stated that auditors during 2008 crisis were forced to comply with the unethical ways of an organisation. Moreover, audit independence is an essential feature, which is enjoyed by auditors while conducting an evaluation on the company. This mainly allows the auditor to portray an unbiased opinion of the companys current financial status. On the other hand, Arens et al. (2015) argue that auditors audit report is influenced by unethical monetary gains provided by the company. There are certain services both Audit and non-audit are conducted, which are provided by auditors to their customers. These non-audit services could be identified as major source of economic promotional services and tax related services. Moreover, non-audit services mainly raise chance of auditors to increase their income from the same client. Birkey et al. (2016) stated that due to the non-audit services provided auditors mainly hamper audit independence hampered which increases the chance of unethical activities between the auditor and the organisation. On the other hand, Byrnes et al. (2015) argued that audit quality is often dealt with precision, as auditors tend to portray wrong valuation of company due to lucrative offers provided by the organisation. One of the major threats is Advocacy is identified, which could hamper independence of auditors in conducting the audit report. In the current situation, advocacy is mainly identified, as the major threat to auditor independence. The advocacy threat mainly refers to quality of audit, which is been provided by the auditor for certain organisation. The stakeholders do not trust the audit report and think this been compromised, which depicts the advocacy threat. Auditor is rendering advocacy services to organisation mainly compromises with auditors independence deduce actual financial condition of an organisation. Second situation: The second situation mainly states that Audit Independence is highly threatened if the auditor takes non-monetary and monetary benefits from the organisation, which is being audited. Cohen and Simnett (2014) stated that use of non-monetary benefits allows companies to influence the auditors and in turn shape the audit report according to the needs. According to the audit rules, auditors could not take any other benefits other than that mentioned in the audit agreement. In the current situation, there is a holiday package route, which is being presented to the auditing firm members. Acceptance of the non-monetary benefit could eventually affect the overall auditor independence, which could be stated as an unethical approach of the organisation. As depicted in the second situation the audit firm should stop receiving non-monetary gains from the organisation to reduce threat of audit independence. Furthermore, improving the Audit Independence Organisations is not allowed to use auditors who are related to the companies personally. The accommodation of relative in the audit report might increase the influence of the organisation on audit independence. According to the Australian audit law, auditors related to organisations, employees or owner is not allowed to conduct the audit report. This prevention is only implemented to reduce unethical audit procedures and improve viability of the audit report. The current situation states that father of the accountant auditor is a financial control of the business and if Michael accepts the offer for being a part of audit report then it might and hamper independence of the auditor (DeFond and Zhang 2014). This could nullify the audit report and increase doubt regarding the activities of the organisation. For protecting the audit, Independence auditors are mainly barred from associating with organisations employees, and directors. This restriction is mainly imposed to reduce the unethical influence, which might be posted on auditor and hamper the audit report. Auditors are mainly barred from contacting with organisations employees as they could develop a sympathetic side, which might hamper audit independence. This sympathy might directly affect auditors report and reduce its viability while increasing doubt among stakeholders.Duncan and Whittington (2014) stated that auditors are responsible for delivering the adequate valuation of the company and is the expected to provide the report without any emotional, unethical and influence. In this situation, the auditor has many offer services to the company in context to tax calculation and accounting transactions. This could lead to self-audit evaluation of the auditor, which is an unethical activity conducted by the auditor. Depicting any kind of protection for the above method threats: Changing the audit partner good mainly help in reducing the over familiarity threat and by any chance of manipulation in audit independence. Changing audit partner could not influence the effectiveness of the audit quality both historical and new data will be provided to the new audit partner. This could help in improving the audit quality and reducing any chance of unethical activities (Eilifsen et al. 2013). The main motive for the audit committee will only be to ensure transparency assurance in the audit report, which could only be attend if the audit Independence is not hampered. Thus, the audit committees main motive will be to ensure availability of relative information and reduction of unethical measures. The international auditing and ethical standards could be employed in the organisation for reducing the complexity and improving the audit procedures. This could eventually help in enhancing the audit report and reduced any unethical activities hampering audit independence (Hayes, Wallage and Gortemaker 2014). The independence of auditors could be monitored and checked whether any political or professional influence is been implemented on the auditor's. This evaluation could mainly help in providing the relevant transparency to the audit report and help in confining the confidential data of the organisation. Moreover, auditor needs to follow ethical standards while conducting the audit report, which is depicted in the code of ethics. This auditing standards many allow the auditor tomake adequate judgements during the audit procedure and reduce any kind of unethical activities in the organisation. The code of conduct mainly states the minimum measures, which must be taken by the auditor while conducting the audit report (Junior, Best and Cotter 2014). The use of above mentioned ethical standards and measures could mainly allow the auditor to reduce any influence on independent auditing. This reduction in influencing the independent auditing could eventually help the auditor to portray the adequate financial condition to stakeholders of the company. Depicting the overall risk of spare part inventory: There is relevant organisation who considers management factors to help take adequate steps in reducing the risk factor hindering the progress of the organisation. Some of the major risk, which could be identified for the organisation, is commercial risk, health and safety risk, and reputation risk. The violations of these could lead to declining in revenues and reduced its profitability. Louwers et al. (2013) stated that use of adequate risk evaluation techniques could help organisation to develop a strategic plan for confrontingthe future risk. On the other hand,Marques, Santo and Santos (2013) argued that without adequate research and valuation strategic plan could backfire and increase the damages, which could have beendealt by the risk. There are certain operational risks also with the spare parts inventory system, which might hamper the overall capability of the company to support its production activities. Thus, for reducing the operational risk companies are needed to implement policies for stocking the current inventory system. The organisation is mainly responsible for managing the overall operational risk my assuring adequate implementation of approaches, which could manage inventory in an adequate way.Ojala et al. (2016) stated that reduction in operational risk mainly allows organisation to improve their productivity and fulfil demands of their customers. On the other hand, Peter and Romi (2014) argued that lack in adequate inventory control could increase expenses of the company and in turn reduce the projected profits and block essential capital. Strategic risk could be considered as one of the risk, which accommodates inventory management of spare parts.Inventory management ofspare parts is one of the major risks, which is faced by an organisation. Increment in spare parts could lead to blockage of capital, and reduction in Inventory of spare parts could delay or halt production activity. Thus, it is necessary for the organisation to use an effective financial management activity for spare part inventory. Businesses mainly need to focus on both finance and stocks for reducing the risk level, which might increase the chance of loss. Srivastava, Rao and Mock (2013) stated that large quantity purchases could mainly increase chance of capital blockage, which could lead to reduction in production. Therefore, if a company is not able to comply with large stock purchase and extended downtime, it could use an effective inventory system, which replenishes stock according to the use of the organisation. On the other hand, Schmidt, Woo d and Grabski (2016) argued thatnot only spare part inventory system, the whole inventory method need to be revaluated to increase efficiency and minimise capital blockage of the organisation. According to the scenario, it is essential for the company to find an effective strategy, which might help in managing the spare parts effectively and reduce the risk associated with inventory system. Identifying the audit risk and its impact on account balance: There is relevant audit risk and it has an impact on a account balance, which could reduce viability of the audit report. In the current selection, inherent risk is many identified as the risk, which is affecting the financial report. Inherent risk is mainly considered an error omission in the financial report. So the more complexity of the transactions mainly increases the chance of inherent risk, which might hamper liability of the audit report and negatively affect companies reputation. This type of risk mainly has an effect on inventory balance and accounts receivable. In addition, the inherent risk also affects certain transactions and accounts where actual transaction loss or profit could not be detected. William, Glover and Prawitt (2016) mainly stated that inherent risk effectively reduces by implementing different auditing procedures. However, the occurrence of inheritance risk mainly increases the chance of manipulation, which might be conducted within the organisation. There are certain risks, which could be related to operations and are termed as detection risk. This type of detection risk is mainly conducted when auditor is unable to identify or detect a material misstatement associated with the organisation. This type of risk mainly appears when auditors fail in implementing relevant processes in the audit procedure. The state of detection is mainly considered to be beyond the capability of an accountant and thus it might influence balance of accounts. Thus, it could be considered that accounts are prone to greater risk if adequate detection risk is not reduced. There are three different types of accounts, which portray higher risk to revenue account, sales account and inventory account. Within these accounts does a chance of detection risk, which could hamper viability of the audit report. Wong and Millington (2014) stated operational risk only be reduced if auditors are able to back calculate all the relevant activities and detect the material misstatement. Reference: Arens, A., Elder, R. and Beasley, M., 2014. Auditing and assurance services-An integrated approach; includes coverage of international standards and global auditing issues, in addition to coverage of.Boston: Aufl. Arens, A.A., Elder, R.J., Beasley, M.S. and Jones, J., 2015.Auditing: The Art and Science of Assurance Engagements. Pearson Canada. Birkey, R.N., Michelon, G., Patten, D.M. and Sankara, J., 2016, September. Does assurance on CSR reporting enhance environmental reputation? An examination in the US context. In Accounting Forum (Vol. 40, No. 3, pp. 143-152). Elsevier. Byrnes, P.E., Al-Awadhi, C.A., Gullvist, B., Brown-Liburd, H., Teeter, C.R., Warren Jr, J.D. and Vasarhelyi, M., 2015. Evolution of Auditing: From the Traditional Approach to the Future Audit.Audit Analytics, p.71. Cohen, J.R. and Simnett, R., 2014. CSR and assurance services: A research agenda.Auditing: A Journal of Practice Theory,34(1), pp.59-74. DeFond, M. and Zhang, J., 2014. A review of archival auditing research. Journal of Accounting and Economics,58(2), pp.275-326. Duncan, B. and Whittington, M., 2014, September. Compliance with standards, assurance and audit: does this equal security?. InProceedings of the 7th International Conference on Security of Information and Networks(p. 77). ACM. Eilifsen, A., Messier, W.F., Glover, S.M. and Prawitt, D.F., 2013.Auditing and assurance services. McGraw-Hill. Hayes, R., Wallage, P. and Gortemaker, H., 2014.Principles of auditing: an introduction to international standards on auditing. Pearson Higher Ed. Junior, R.M., Best, P.J. and Cotter, J., 2014. Sustainability reporting and assurance: a historical analysis on a world-wide phenomenon.Journal of Business Ethics,120(1), pp.1-11. Louwers, T.J., Ramsay, R.J., Sinason, D.H., Strawser, J.R. and Thibodeau, J.C., 2013.Auditing and assurance services. New York, NY: McGraw-Hill/Irwin. Marques, R.P., Santos, H. and Santos, C., 2013. A conceptual model for evaluating systems with continuous assurance services.Procedia Technology,9, pp.304-309. Ojala, H., Collis, J., Kinnunen, J., Niemi, L. and Troberg, P., 2016. The Demand for Voluntary Audit in Micro?Companies: Evidence from Finland.International Journal of Auditing,20(3), pp.267-277. Peters, G.F. and Romi, A.M., 2014. The association between sustainability governance characteristics and the assurance of corporate sustainability reports.Auditing: A Journal of Practice Theory,34(1), pp.163-198. Schmidt, P.J., Wood, J.T. and Grabski, S.V., 2016. Business in the Cloud: Research Questions on Governance, Audit, and Assurance.Journal of Information Systems,30(3), pp.173-189. Srivastava, R.P., Rao, S.S. and Mock, T.J., 2013. Planning and evaluation of assurance services for sustainability reporting: An evidential reasoning approach.Journal of Information Systems,27(2), pp.107-126. William Jr, M., Glover, S. and Prawitt, D., 2016.Auditing and assurance services: A systematic approach. McGraw-Hill Education. Wong, R. and Millington, A., 2014. Corporate social disclosures: a user perspective on assurance. Accounting, Auditing Accountability Journal,27(5), pp.863-887.

PRIMARY SOCIALIZATION THEORY (742 words) Essay Example For Students

PRIMARY SOCIALIZATION THEORY (742 words) Essay PRIMARY SOCIALIZATION THEORYTraditional sociological analyses tie secondary socialization sources to behavior, usually using linkage through stress. Situations, personal traits, etc. lead to stress, and drugs relieve them. According to Oetting and Donnermeyer, these secondary socialization sources operate only via their effects on primary socializations sources. Unless a personality trait, a community characteristic, stress, or any other factor influences bonding with the primary socialization sources or alters the communication of norms through those sources, the theory proposes that there will be little or no effect on deviant behaviors. (Oetting and Donnermeyer, 1998)Thus far (there is to be a series of three articles, only one of which has been published) the major analysis has been of adolescents. Three primary sources of socialization are proposed: family, school and peer groups. While any of these groups are capable of transmitting both prosocial and deviant norms, family and school are seen as being primarily prosocial and peer groups carrying the main risk of trasmitting deviant norms. Family socialization contains two components which impact an adolescents risk for deviance: the strength of the family bond, and the use of those bonds to transmit prosocial norms. Dysfunctional families may either alienate their children and/or provide deviant normative information to them. The family bond of concern in these cases is not just a matter of support of love. It is more specifically limited to the level to which an individual is willing to accept and adopt values and norms from the family, and thus to behave accordingly. Society currently assigns schools the responsibility of transmitting certain cultural and behavioral norms. In the same way that there are dysfunctional families, there are also dysfunctional schools which have parallel weaknesses. The typical image of a dysfunctional school, of the resignation to chaos and deviance is only one type. Even in the best schools, there will be alienated peer groups. Poor grades, disciplinary problems etc. tend to erode the bond between an adolescent and school, and thus erode the ability of the school to transmit prosocial norms. These students are forced outside the circle in which other peers may be receiving normative socialization. Studies of these disaffected groups have shown that students experiencing alienation, lack of success within the school framework, and other problems with deriving rewards from school have a greater tendency toward drug use and deviancy in general. Peer groups form the last primary socialization group, and have the greatest impact on those alienated from the first two groups. These groups may be formed on the basis of, among other things, ethnicity or activity including drug use. An individuals choice of peer group has been shown to correlate with their risk of drug use/abuse (Oetting and Donnermeyer, 1998). Primary socialization theory thus provides a powerful tool in analyzing the sources of risk for subtance abuse. It integrates many other theories, and thus its applicability is extremely wide. In terms of policy implications, it points to the importance of maintaining social ties between family, school and adolescents. Moreover, it can reveal certain alienating aspects of punishment as counterproductive in the schools role as transmitter of prosocial norms. Finally, it suggests that a certain emphasis in creating social bonding among recovering addicts is uniquely important in successfully treating addiction. As an overall theme, there are two components to all of these instances. First, there must be a strong social bond of a very unique sort. It is one among people who draw upon each other when making normative judgements intimate to their lives, or more specifically, the course of action with respect to drugs. Identification with this group with respect to the judgement at hand is essential for the adoption of similar norms. The second component is that these bonds must become used to transmit that normative information. Strong bonds do not prevent drug use if that identity does not in some way involve a consideration of drug use as deviant. .ua8dd1a3ff017cee8d20905da292e26d0 , .ua8dd1a3ff017cee8d20905da292e26d0 .postImageUrl , .ua8dd1a3ff017cee8d20905da292e26d0 .centered-text-area { min-height: 80px; position: relative; } .ua8dd1a3ff017cee8d20905da292e26d0 , .ua8dd1a3ff017cee8d20905da292e26d0:hover , .ua8dd1a3ff017cee8d20905da292e26d0:visited , .ua8dd1a3ff017cee8d20905da292e26d0:active { border:0!important; } .ua8dd1a3ff017cee8d20905da292e26d0 .clearfix:after { content: ""; display: table; clear: both; } .ua8dd1a3ff017cee8d20905da292e26d0 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ua8dd1a3ff017cee8d20905da292e26d0:active , .ua8dd1a3ff017cee8d20905da292e26d0:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ua8dd1a3ff017cee8d20905da292e26d0 .centered-text-area { width: 100%; position: relative ; } .ua8dd1a3ff017cee8d20905da292e26d0 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ua8dd1a3ff017cee8d20905da292e26d0 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ua8dd1a3ff017cee8d20905da292e26d0 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ua8dd1a3ff017cee8d20905da292e26d0:hover .ctaButton { background-color: #34495E!important; } .ua8dd1a3ff017cee8d20905da292e26d0 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ua8dd1a3ff017cee8d20905da292e26d0 .ua8dd1a3ff017cee8d20905da292e26d0-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ua8dd1a3ff017cee8d20905da292e26d0:after { content: ""; display: block; clear: both; } READ: Wellness centers, health clubs, gyms and spas are EssayFinally, the limitations of this theory must also be considered. That is, in some cases, drug use stems from a perception that all social bonds have been severed. Thus the behavior is not learned from an intimate peer group, but from the environment in general. In this case, the old-fashioned analysis of stress relief has more effect, and the prescription for treatment may differBibliographyOetting, E.R. and Donnermeyer, J.F. Primary Socialization Theory: The Etiology of Drug Use and Deviance. I. Substance Use and Misuse 33 (4): 995-1026 (1991)

Invisible Man By Ellison Essays - Puppetry, Invisible Man, Dolls

Invisible Man By Ellison Life on the Strings Dolls. We are surrounded by dolls. G. I. Joe, Barbie, Polly Pocket, and WWF action figures. Prior to our plasticene friends we had paper dolls, marionettes, and delicately featured porcelain dolls. We are strangely fascinated by these cold, lifeless objects that look so much like ourselves. Children clutch them and create elaborate scenes, while adults are content to simply collect, allowing them to sit, motionless on a shelf, staring coolly back at their live counterparts. Which brings us to and interesting point, are people simply dolls for other people to play with or collect? One could make the arguement that we are all Tod Cliftons', doomed to dance by invisible strings while wearing a mask of individualism. However, unlike Tod Clifton, most of us will not realize that who pulls the string, is not ourselves. Ralph Ellison's novel, The Invisible Man is fraught with images of dolls as if to constantly reminded the reader that no one is in complete control of themselves. Our first example of doll imagery comes very early in the novel with the Battle Royal scene. The nude, blonde woman is described as having hair "that was yellow like that of a circus kewpie doll" (19). Ellison draws a very strong connection between the plight of the Negro man and the white woman. The fact that they are both shown as puppets or dolls in the work is no coincidence. The woman and the African are merely show pieces for the white men in the novel. Tod Clifton's dancing Sambo dolls are the most striking example of doll imagery. This small tissue paper doll has the capability to completely change the Invisible Man. When he sees that the powerful and enigmatic Clifton is the one hawking the abominable dolls, the narrator is so filled with humiliation and rage that he spits upon the dancing figure. But what is it that has caused this surging of fury? It is Tod Clifton and not the narrator who has degraded himself to such a base level. However, it is our narrator's sudden comprehension of his own situation that causes his wrath. The line "For a second our eyes met and he gave me a contemptuous smile" (433) illustrates this moment of realization for our narrator. It shows the reader that Tod Clifton was aware of his position as a puppet all along and chooses to enlighten the narrator at this particular point in the novel. The Invisible Man recognizes that all his life he's been a slave and a puppet to others. Whether those others were Bledsoe, his grandfather, or the brotherhood is irrelevant, but there has always been and imperceptible string attached to him governing everything he does. Not only a string but his own physical characteristics echo those of the grotesque Sambo dolls. It's cardboard hands were clenched into fists. The fingers outlined in orange paint, and I noticed that it had two faces, one on either side of the disks of cardboard, and both grinning. (446) Hands doubled into fists? This is the brotherhood message in a nutshell, Strong, ready to fight for what one supposedly believes in. Yet, at the same time these fists are controlled exclusively by the one holding the strings. And the black Sambo puppet blissfully unaware that he is merely a plaything. He smiles to the crowd and back to the puppeteer. It is the grin on the face of this doll that initially angers the Invisible Man. But why? Thinking back to the very start of the novel we have the Grandfather's dying words to our narrator, "...overcome 'em with yesses, undermine 'em with grins, agree 'em to death and destruction..." (16). It would seem as though the Grandfather and Tod Clifton are in league with one another as they both have a firm grasp on what power men have over men. We get a powerful and disturbing image of this very idea when the Invisible Man is in the factory hospital after the explosion. It is a scene that seems to fade into the mishmash of confusion that accompanies this part of the novel, but it is nonetheless very important. As the narrator lies in his glass enclosed box with wires and electrodes attached all over his body, he is subjected to shock treatment. "Look, he's dancing," someone called. "No, really?" ..." They really do have rhythm, don't they? Get hot, boy! Get hot!" it said with a laugh. (237) This image is almost a perfect match with that

Capitalization †What and When

Capitalization – What and When Capitalization – What and When? Knowing which words to capitalize can be a tricky business since there are dozens of conventions governing these things, so nobody should feel bad about having to seek expert advice in this regard. There are a few general tips you can follow here – most importantly, always check the relevant style guide and aim for consistent capitalization throughout your paper – but knowing when to capitalize is largely a matter of experience. Here are a few examples to keep in mind. The First Word in a Sentence Every time you begin a new sentence, it should start with a capital letter. This even applies to quotations in the middle of a sentence, as long as the quoted text is itself a complete sentence (e.g., â€Å"My friend said, ‘The movie Charlie’s Angels is the greatest work of art in history,’ but I disagreed with him.†). Titles of Works As the above example demonstrates via Charlie’s Angels, capitalization is required is when writing out a title. This applies both to titles of published works (articles, magazines, books, movies, etc.) and your own academic papers. It’s worth checking your style guide here, as institutions differ regarding whether you should capitalize all of the important words in a title or just the first word in the title and subtitle. The First Person Pronoun The first person pronoun â€Å"I† should always be capitalized, as should contractions incorporating â€Å"I† (e.g., â€Å"I’m,† â€Å"I’ve† and â€Å"I’ll†). Other pronouns (â€Å"we,† â€Å"you,† etc.) are usually only capitalized at the beginning of a sentence. Proper Nouns Proper nouns are words that name unique entities. So while the noun â€Å"egomaniac† applies to many of Hollywood’s leading lights, the proper noun â€Å"McG† refers uniquely to the director of movies like Charlie’s Angels and Charlie’s Angels: Full Throttle. All proper nouns, including McG, Cameron Diaz and Columbia Pictures, begin with a capital letter. Non-Charlie’s Angels related examples of proper nouns include: Personal names (e.g., Abraham Lincoln) Brand names and companies (e.g., Microsoft, Coca-Cola) Geographical features and locations (e.g., the Grand Canyon, Quebec) Languages and words related to nationality (e.g., Englishman, Spanish, Canadian) Months and days of the week (e.g., Tuesday, October) but not seasons (spring, summer, etc.) Special dates and events (e.g., New Year’s Day, the Olympic Games) Planets (e.g., Mars, Jupiter); however, while â€Å"Earth† the planet is capitalized, when referring to the ground or soil, the word â€Å"earth† is not Please note that this is far from an exhaustive list of proper nouns, so remember to check a dictionary if you’re not sure about any particular word. Other Capitalizations There are a few other cases when it’s important to capitalize your words, including: Titles (e.g., Ms., Mr., Dr.) Acronyms (e.g., NASA, FBI) Reverential capitalization: i.e., the use of a capital letter as a mark of respect, such as when â€Å"God† is capitalized in writing about Christianity; this is also why some job titles are capitalized when preceding a name (e.g., â€Å"President Barack Obama†).

Aviation Law (Application of law) Essay Example | Topics and Well Written Essays - 1500 words

Aviation Law (Application of law) - Essay Example However, local and state authorities have also enacted legislation that is aimed at reducing and abating the effects caused by noise pollution. In the case of Air Transport Association of America v Crotti, the courts in Northern California held that the proprietors or operators of airports might regulate the noise on the ground but not aircrafts that are on flight (304). This was in stark contrast to the finding in the Burbank case whereby it was emphasized that the power to control noise in airports does not preempt the federal government or the local as well as state authorities to adopt policies that will greatly reduce noise from aircrafts. Later the Federal Aviation Authorities (FAA) expressly rejected the exclusive control of noise abatement in instances of aircrafts but imposed upon the operators of airports the responsibility of reducing the effects of noise caused by aircrafts (310). When it comes to liability, the Federal Aviation Act explicitly provides that it neither abr idges nor changes the position held by common law and the remedies that can be provided by the statutes. In Greater Westchester the court’s examination of the Act found that nothing could make it think that the FAA possessed powers to adjudicate on disputes between operators of airports and those that are found in the surrounding areas. The intimation here is that those that are aggrieved by the noise from aircrafts in their neighborhood should direct their complaints to the operators of the airports for any remedies that accrue to them. Q.2 The United States Constitution Fourth Amendment protects the rights of individuals from unreasonable searches at airport checkpoints that may be reasonable or unreasonable which are lawful and unlawful respectively (Carson and Ramen, 2012). When it comes to searches at airports, the courts in interpreting the Fourth Amendment stress the application of the standard of reasonable suspicion of a criminal activity. In order that the search qu alify to be a seizure it is important that the authorities determine whether it was reasonable or unreasonable determined from the articulable facts and reasonable inferences that were available to the officer at the time of the arrest. However, the law expressly provides that a search against a person is unreasonable if it falls within the recognized exceptions, which may include searches and seizures applicable in valid incidents as was held in United States v Chadwick. For cases of reasonable suspicion of criminal activity in the application of the Fourth Amendment, the courts recognize the need for the privacy of a person from intrusion from the government that may be deemed unreasonable. The court recognizes the Fourth Amendment that takes care of citizens against police activity such as search and frisks that was ably discussed in the case of Terry v Ohio which elaborated on the level of intrusion. While the courts have continuously applied their own doctrines to justify searc hes at airports, it is important to note that the current searches done at airports are mainly informed by the need to ensure that national security is upheld. Therefore, it can only be said that the justification for searches at airports in line with the Fourth Amendment only fall within the arm bits of the Administrative Search Exceptions that must

Whats different about ethics in e-commerce Research Paper

Whats different about ethics in e-commerce - Research Paper Example In explaining the ethical foundations of e-commerce, the guiding question is, â€Å"How are ethics different in e-commerce?† This already shows that ethics in e-commerce are unique. The major concern will therefore be on those ethical aspects, which bring about the difference. The difference only comes in their manifestation. The conclusion will include a call for further research into establishing the uniqueness of e-commerce ethics, and problems this causes. Ecommerce avails an opportunity for business transactions to be conducted electronically through the internet. The business processes including advertisements of products, buying, selling, and paying are done electronically, without physical presence of the buyer and seller. In its nature, e-commerce attracts a great number of people across the world. It has brought efficiency in business, at a reduced rate, since hosting an online business is not expensive. Technology is highly employed in e-commerce, and includes, telephone, and computers (Nardal and Sahin 190). The utilization of a worldwide internet in e-commerce is advantageous to both consumers and owners of virtual companies. However, the internet presents a new environment, which can easily enhance the violation of ethics in business. Despite the tremendous growth of e-commerce over past years, consumers continue to complain about ethical issues they are faced with. These increased cases of violations of ethics in e-commerce raise concerns whether its unique nature of ethics helps in the propagation of these cases. Ethics is a critical issue for new businesses in the e-commerce world. New businesses in e-commerce may lose focus on the ethical part and pay more attention to its technological issues. Ethical implications in face-to-face businesses vary with those in e-commerce. For instance, it is harder to regulate selling of alcohol to an

Cause and Consequences of the Great Recession

Cause and Consequences of the Great Recession 1.0 Introduction There was a recession in the United States (US) at the end of 2007 (Verick and Islam 2010). McKean (2010) noted that a healthy economy will proceed into a period of high growth, slow growth or no growth. Power (1996) commented that the economy is needed to be contracting and expanding in order for the economy to be healthy. When the contracting period has last for a long period of time (such as at least two consecutive quarters of a year or 6 months in a row), the economy is considered as a recession (Arnold 2008; Brainard and Perry 2001). According to National Bureau of Economic Research (NBER) (2010), recession was defined as a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real gross domestic product (GDP), real income, employment, industrial production and wholesale-retail sales. According to Wang (2009), the US recession has leaded to a global financial crisis shattering businesses and consumers confidence in many countries such as in European Union, China, Japan and Asia countries. As a result, it has been named as the Great Recession which has caused financial meltdown in the US and was spread out quickly affecting almost every corner of the world (Kurki et al 2009). The great recession was seen as the worst economic downturn since the great depression that the world was in recession after World War II (Wang 2009; Verick and Islam 2010). According to economists, this episode of great recession was resulted from a sudden busting of house bubble in US, where the house bubble was caused by rapid growth of improper regulation on sub-prime mortgages (Merriam 2009; Wang 2009; Whitney 2007). This episode of great recession have proven and shown the accuracy of Greenspan prediction who was the former Federal Reserve Chairman predicting that US has one-third probability getting into recession at the end of 2007 (Torres 2007). In order to have a better understanding on the great recession, causes and consequences of this recession will be analysed at the following chapters. 2.0 Causes of the Great Recession Apparently, US was faced many severe problems including banks on the verge of bankruptcy, high record levels of public debt, a falling stock market, a plummeting dollar, frozen money markets and imminent threat of a recession (Lyons 2009; Stiglitz 2010; Taylor 2009). According to Verick and Islam (2010), the global financial crisis was greatly affected by global imbalances, perceptions of risks, interest rates, and regulation of the financial system (Figure 1). With references to the Figure 1, causes of the great recession was summarised as below: 2.1 Housing Crash US housing market are a major determinant of consumers spending and rate of economic growth (Congressional Budget Office 2007). There are various factors affecting house price to rise much faster than consumer incomes, and thus it was created overvalued assets (Eklavya 2008). Taylor (2008) noted that US house prices were raised rapidly until 2006 and experienced a fall of house prices after the boom. Figure 2 shows the trend for house price for 1991 to 2007. When house prices fall to correct the imbalance, it had a significant impact on consumers spending where people cannot remortgage to obtain extra capital for spending (Taylor 2008). 2.1.1 Subprime Mortgages Burst According to Eklavya (2008), there was no regulation of subprime mortgages where the mortgage industry was able to sell mortgages without considering whether the buyers could pay back. Global research (2009) was estimated the value of US subprime mortgages at $1.3 trillion on March 2007, but there was over 7.5 million first-lien subprime mortgages outstanding. It was because the subprime mortgage was spiked to nearly 20% of all mortgage originations during the peak of US housing bubble (Smith 2007). In figure 3, it shows that subprime mortgage was expanded significantly during the period of 2004 to 2006. The huge majority of the subprime mortgages were caused massive foreclosures, and thus it was greatly affected the institutions and independent mortgage brokers which were not covered by the Community Reinvestment Act (Pressman 2008). Thus, it was indirectly affected a slow growth or even started to fall on consumer spending and investment (Taylor 2009). 2.1.2 Low Interest Rate Economists commented that US monetary authorities had adjusted the interest rates at unprecedented levels which created a debt-finance consumption boom leading the way in boosting housing bubble (Taylor 2009; Eklavya 2008; Kurki et al 2009). Similarly, some economists argued that interest rates in the US were stayed too low for too long and even stood at just 1 per cent in 2003 and 2004 which activated the great recession (Figure 4) (Elmendorf 2007; Taylor 2009; Verick and Islam 2010). Verick and Islam (2010) criticized that the monetary policy in US was failed to tackle the overvalued asset bubble, and at the same time contributed to the rapid growth in subprime mortgages. 2.2 Credit Crunch McHugh (2007) commented that high subprime mortgage defaults in US had caused credit crunch which referred to a sudden shortage of funds resulting a decline in loans available. According to Bloom (2008), many investment banks and commercial banks were faced huge losses due to the risky mortgage loans. Therefore, banks were reluctant to lend money to anyone and even to other banks leading a shortage of funds in the money markets (Smith 2007; Verick and Islam 2010). Whalen (2007) commented that the shortage of liquidity in the finance sector had caused borrowing to be more difficult and more expensive which had leaded to a lower consumer spending and investment. 2.3 Budget Deficit and National Debt According to GAO (2009), the US national debt was stood at 65% of GDP for 2007 and it was even worst when pension liabilities were included. With such a large deficit, US government had less room for expansionary fiscal policy because demographics worked against fiscal stability and the stage of economic cycle worsened the deficit (Auerbach 2009). Kurki et al (2009) noted that the deficit has caused difficulties in attracting capital flow because Asian investors who were aware of the US deficit had slowed down the capital flow to US and contributed to devaluing dollar. Thus, it indicated that there is a fundamental imbalance between domestic production and consumption which had become a constraint for future economic growth (Auerbach 2009). 2.4 Devaluation of Dollar According to basic economic theory, a decrease in exchange rates will eventually help to increase exports and stimulate growth in the export sector (Grant and Vidler 2003). However, the depreciating dollar had contributed to cost-push inflation and declining in living standards where consumer goods were more expensive leading to lower spending power of individuals (Bloomberg 2010). Bloomberg (2010) argued that decline in dollar was resulted US to become less competitive compared to its trading partners. 3.0 Consequences of Great Recession Since US went into recession at the end of 2007, it had caused a crisis on economies across the world (Verick and Islam 2010). According to Taylor (2008), middle-incomes countries (especially in Central and Eastern Europe, and the Commomwealth of Independent States) were severely affected (Figure 5), where as low-income countries such as Uganda and Ethiopia were able to grow strongly despite the downturn (Figure 6). Verick and Islam (2010) noted that although most low-income countries have evaded from recession, these countries had experienced a slow growth in economy due to the negative implications for poverty. Lockstein (2010) argued that, in overall, the smaller and more open economies countries had been hit stronger, whereas the larger emerging economies countries could be survived by the supporting from domestic demand and government spending. It had been noted that China and India were able to recover faster from the great recession (Taylor 2009; Verick and Islam 2010). Llaudes, Salman and Chivakul (2010) commented that the great recession had caused various impacts to different countries. Thus, an analytical study on the consequences of great recession towards US and India have stated as below: 3.1 The United States According to Gulzar (2010), the great recession had caused a great impact on US labour market. Laibson (2010) noted that although government had adjusted the inflation rate causing the economy grew 2.2% in 2009 Q3, 5.6% in 2009 Q4, and 2.7% in 2010 Q1, the unemployment rate had stubbornly remained high. The unemployment rate had risen from 9.5% in June 2009 to 10.1% in October 2009, before it felt back to 9.5% in June 2010 (Laibson 2010). Altig (2010) commented that the disconnection between the demand and supply of workers which was reflected in statistics such as the hiring rate, the layoff rate, and the unemployment rate can be expressed by the Beveridge curve (Figure 7). Altig (2010) argued that, with the given average number of job opening in April and May, the unemployed were expected about 10.4 million instead of 15 million as stated in Figure 7. Some analysts have commented that the unemployment benefits policies should responsible for abnormally high unemployment rates (Altig 2010; Gulzar 2010; Verick and Islam 2010). Valletta and Kuang (2010) estimated that extended unemployment benefits may have increased between 0.4% and 1.7% of unemployment rate. Krugman (2010) argued that there is a strong tendency of high unemployment to become permanent because those who have out of work for a long enough periods have become less productive and less competitive in the job market. Ball (cited in Krugman 2010) prompted a problem that high unemployment tend to increase the level of structural unemployment, if there is a weak policy, thus inflation will increase much higher unemployment rates than before. 3.2 India During great recession, India economy was turning down because of Indian companies with big tickets dealing in the US were seeing their profits margin shrinking, and majority of Indian companies have major outsourcing deals with US (Malik and Pandit 2010). According to Alex and Kumar (2009), Indias merchandise has been exported to ASEAN (52%), followed by the EU27 (21%), and the US (13%). However, Malik and Pandit (2010) noted that the global crisis has caused the USs share felt to 11% (March 2009), which was even lower than the United Arab Emirates (13%) (Figure 8). Figure 9 shows that all of the products (except gems and jewellery) were experienced a major contraction during the great recession: petroleum and crude products have the largest contraction (about 45%), whereas agriculture and allied products contracted by 28%, engineering goods exports by 22%, chemical and related products by 9%, and textiles by only 2% (Alex and Kumar 2009). Besides, Indias financial market was hit badly from the great recession where share market was fall, rupee was weakening again dollars, and banks were faced severe cash crunch resulting in shortage of liquidity in the market (Eklavya 2008). Due to Foreign Institutional Investors (FIIs) were the main investors for India, the investors (majority based in US and Europe) had withdrawal their money from Indian Stock Markets to meet their liabilities at their home countries (Mohanty 2009). Alex and Kumar (2009) commented that rupee was lost its strength against dollar when FIIs converted their invested money into dollars. However, India was able to recover faster from the great recession due to Indian Banks were escaped from the ill-effects of subprime mortgage crisis where major Public Sector Banks exercising extremely caution in giving loans to needy people or companies (Eklavya 2008). 4.0 Conclusion In the age of globalisation, every country is affected by the fluctuations of world economy where no country can remains isolated (Eklavya 2008). Thus, great recession has caused a vast impact to the world such as fall in demands, shortage of cash, decreasing growth rate, and high unemployment rate (Taylor 2008; Verick and Islam 2010). On the other hand, recession can help to transform country or businesss outlook for the future (Kurki et al 2009). Although the recession has turned down the growth process, it helps to generate ideas and strategies stimulating the economic growth and maintaining stability of the market in order to become more competitive in the world.