Wal-Mart and Nordstrom

Wal-Mart and Nordstrom are well known companies and established brands listed on Fortune 500 list. Wal-Mart caters almost all needs of its customers from grocery to clothing while Nordstrom operates in fashion retainging industry. It keeps collection of more than 500 brands in its store. Wal-Mart Wal-Mart is the largest retailer in America. These discount stores became part of American’s life in 1960s. At present it is operating in 15 countries, it employs more than 1.8 million associates worldwide. The number of stores is nearly 6,500 stores and serves more than 176 million customers per week. The â€Å"most admired retailer† according to FORTUNE magazine has just completed one of the best years in its history: Wal-Mart generated more than $312.4 billion in global revenue in the fiscal year ended January 31, 2006, establishing a new record and an increase of 9.5 percent. The company earned almost $11.2 billion in net income in fiscal 2005.[1] Wal-Mart has gone through considerable changes through the year 2003-04. Wal-Mart had increased its advertising budget by $434 million between 2003 and 2004. The mission of Wal-Mart has been to provide good jobs, good works, and citizens and do good investments in 2004. The vision of Wal-Mart has always been to provide customer each and every product at the lowest price. Wal-Mart focused on cost cutting by its strategy on the merchandise mix and various operations. It utilized its database for consumer and requirement analysis. This helped it to understand the demand pattern of various products and helped in inventory management to make products available when customer wanted it most. The marketing activities revolve around the equation People+ Price+ Product=Value. Company’s promotional strategies are not limited to a particular source. Company has utilized all the traditional and modern channels to reach its customer with its best offers. Wal-Mart adopts simple price promotion strategy in all its strategies. Its website is colorful attractive and displays various products and offers in each of its web page. Wal-Mart uses billboards and signboards which are placed at the public places and the places with high visibilities. The pamphlets and print materials are used for both in side the store promotion as well as outside the stores. Nordstrom Its one of the largest fashion retail stores in US. Its annual revenue is $7,722.9 million. It is ranked 8th in the general merchandiser group of fortune 500 companies. â€Å"Today, Nordstrom has grown from one downtown Seattle shoe store into a nationwide fashion specialty chain with renowned services, generous size ranges and a selection of the finest apparel, shoes and accessories for the entire family. The company's philosophy has remained unchanged for more than 100 years since its establishment by John W. Nordstrom in 1901: offer the customer the best possible service, selection, quality and value.† This claims to provide branded clothes in the best minimum prizes. It adopts various promotional strategies for the promotion of its store. These strategies include electronic medium such as internet and computers, events and programs and printed materials. Events like designer clothes events, in store beauty events, sales events and many others. The web presence of the Nordstrom’s website is elegant. It also works as a platform for the promotional strategies. Currently $ 5 shipping campaign is going on this website.   Its webpage has various attractive pictures creating interest about the products as well as self promotion of the company. It has its own e-catalogue which list all its product and accessories for the information and shopping purpose. Each of the company uses almost all kind of promotional tools to reach their target consumers and other stake holders. The use of web pages in both the cases has been different with similar objective of attracting consumer and selling. However the e-catalogue of Nordstrom and images used in the website is more urban and attractive. Wal-mart tries to attract mass and it is evident from its website presentation. Nordstrom conducts various events as one of its most important promotional strategies. Reference: Kotler, Philip, Marketing Management, Prentice-Hall Inc. New Jersy, 10th Edition, 2000 Nankani, Economic Growth in the 1990s: Learning from a Decade of Reform retrieved on 22 January 2007   from http://www1.worldbank.org/prem/lessons1990s/chaps/01-Ch01.pdf Serres, Chris Target vs. Wal-Mart, Is Target Corporation Any Better for Workers? May 22nd, 2005 retrieved on 22 January 2007     from http://www.reclaimdemocracy.org/walmart/2005/target_better.php http://investors.target.com/phoenix.zhtml?c=65828;p=irol-newsArticle;ID=233786;highlight=accessed on 22 January 2007 http://www.sathguru.com/Note_on_Retail_Industry.pdf accessed on 22 January 2007 http://money.cnn.com/magazines/fortune/fortune500/snapshots/957.html accessed on 22 January 2007 http://about.nordstrom.com/aboutus/companyhist/companyhist.asp accessed on 22 January 2007 [1] http://walmartstores.com/GlobalWMStoresWeb/navigate.do?catg=5

Empowering Community at Grassroorts

We had 16 youth representatives from Nepal, Bangladesh, Sir Lankan and India. (Unfortunately, Pakistan Participants were not given visa, though the clearance from the Ministry was given. Secretariat has already sent the protest note to the all concerned. ) This workshop took place as a part of Core Group new mission statement. For this workshop, we brought together youth of South Asia who are willing to work as community facilitators at the grassroots.The workshop main Contents were: SAP Perspective on Globalization Conflict and Conflict Transformation Non-violent process Cycle of Violence/Breaking the cycle of violence Case study discussion : Role of teacher, student and parent Consensus building demonstrative exercise Community Facilitation process Role of facilitator Participatory process Prepare two day workshop and prepare one sample activity sheet Prepare One year plan Globalization: Introducing the theme Regional brought the SAP perspective: need for SAP mission, SAP mission i n the context of globalization.Role of youth in it. He explained in simple language the character of the present globalization. Normalization, Prevarication and Mechanization. Each one of them was picked up with example and also small role lays, how this three are playing havoc with the lives of people. Mr.. Rammers built on the perspective on globalization further with the group by undertaking group exercise and examples. Linking further with Globalization and conflict. Looking deeply into globalization and its impact on the daily lives and also its national and International dimension.He moved from conflict to conflict transformation process. Rammers presented detail analysis and made participants understand through group exercises. The role of Democratic Globalizes in challenging the process and model of development and how one can go about it in tackling the issues. Consensus building demonstrative exercise Living in pluralistic society and participation of community in the deci sion making process is important. Nobody should feel left out. Working with the community and arriving at a decision is a difficult process.It takes time and requires patience. There are many ways to make decision, if you want to work in groups. Voting, raising hands have limitation and creates problem. Majority and minority decision making leaves out people dissatisfied. Giving equal share, keeping people together, helping group to grow. It is about the value, democratic view. Why it is preferable, as it helps n taking people along with you. Group Exercise: RSI. 50 from each person was collected from the group (Total RSI. 850).The group was given the task that they need to arrive at a decision â€Å"collectively' how the amount needs to be spent. Everyone needs to agree with it and there is should be Consensus. What are things they need to do for facilitating? Aware in using words Listening attentively Respect for each other. Everyone (Cooperates) help to facilitate Reminding the group to be focused : About the Time and goal Follow the process To be aware of actions when we facilitate Reminding and summering the agreementsJustifying the one opinion and giving reasons for opposing Avoid distraction or deviating from the Goal Lesson learnt Facilitator listens and needs to interpret properly Combination of ideas and Linking Collective ideas for our goal It requires lots of team work Respecting one another Facilitator to know-What and How Rules and regulations(No exceptions) Cooperation (We should know how to work in groups) Cycle of Violence Typography focused on the Non-violent process. Taking Journey by making effort to make group understand the Violence, the Cycle of Violence and how to break the cycle of violence.Typography also made group work on the case study. Where student in a school had a problem with the teacher. The group then divided into three groups: Parents, teachers, Students and came out with different perceptions that each stakeholder had. Ga ndhi thought is revolutionary Mr.. Alabamian, known as born atheist. Influenced by Gandhi values and he has been practicing nonviolence. He came all the way from Piscataway to share his knowledge and wisdom to the youth. He gave a Historical perspective of nonviolence movement in India and how Gandhi embroiled the people by feeling pulse of the national Gandhi thought is revolutionary.Gandhi was traditional, was a visionary and revolutionary personality. A rare combination. He carried the traditional wisdom, had vision and courage to act on it. The activism inside him made Gandhi a revolutionary personality. He went on with saying that Human become enemy of nature and how the Globalization is creating conflicts. SAP PLANS Towards the end of the workshop. Typography said, muff need to continue to work what you are doing. We expect you to integrate the learning. They need to identify the specific area and community.Participants were given assignment of Preparing a model two day worksh op for their areas. And out of all the activity planned for two days they pick up one activity and come out with One activity sheet. Narrating details of how that was to be done. All participants were also asked to prepare One year calendar plan of activities. Bangladesh 1 . Mr.. Mohammad and Mr.. Talked came from Bangladesh. Both male participants were shy in the beginning. Language was the problem as they knew only Bengali language.Mohammad was able to understand some English and communicate the other was not able to understand at all. 2. Participation Level: Can be said as fair. They plan to meet Anastasia and discuss with him. They also plan to interact with the community. They plan to organize programmed like games, cultural programmed etc. They will also organize programmer based on the learning from the workshop. Yearly chart of activities has been prepared by them. Sir Lankan 3. Ms. Kilogram and Mr.. Roman from Sir Lankan actively participated in the process.Both of them pre pared separate plans and both seem to be clear about what they will do. Ms. Kilogram prepared chart having columns of Content) With whom(Target Group) What (support needed) 4. Mr.. Roman came up with â€Å"Building up a Non-violent community's mini project proposal with project aground, Target group, Resources required, objectives and time line. Nepal 5. Mr.. Jaywalk and Ms. Klan both of them Jointly made a plan sheet which included org workshop, Radio programmer and having program on the human rights day. Both were active in the session 6. Mr..Jaywalk came from Gate organization and is working in grassroots. Klan is with Antenna foundation. Both have showed the commitment. India 7. From India we had two Ms. Maya and Ms. Bin from attractant, Lax Ashram (Our co-coordinator Radar Bath place. 8. Ms. Maya was more vocal and shared experiences and raised questions. Bin was quiet but sensitive. She knew about the issues. Both made presentation in Hindi. They were married and working with community. 9. Ms. Sarnia and Vandal came Visitants network organization. Santa is young, enthusiastic and willingness to learn new things.She has field experience and is adventurous. 10. Vandal is matured, stable and good field workers. Good understanding capacity. Both were married and worked with the community. 11. Mr.. Kennedy is interesting young person from Maniple, North East, India. His recommendation came from HIM. Keen learner. Eager to facilitate. He has gone to the field of Est. Parish and was charged up with what he saw. His plan talked of exposure, helping the organization. He has good links with Nehru Yuba Kinder (Youth network of Goof India). His link organization will be HIM. 2. Mr.. Hammered represented HIM in the Workshop. â€Å"Culture of peace† is the programmer that he will be coordinating for HIM. He is enthusiastic learner. He also contributed his translation skills for the workshop. 13. Mr.. Regenerated was recommended by HIM. He is actively engaged w ith the community on the land and livelihood issues for several years. He had good interaction with Regional and is eager to be part of Jan Straight 2012. Susann is the organization and has developed good cadre in Andorra Pradesh. 14. Mr.. Sham is active youth workers.He is with â€Å"Peace Film Fest† which is traveling film festival reaching out to educate the community on the issue of Nonviolence, Justice and Peace. 15. Mr.. Dharma and Krishna came from South India. Danna is active worker in Thumbnail. He is too eager to take forward the learning to the field. It was good to have Krishna in the workshop. SAP has invested good amount of resources in building the capacity. He will be closely working with Bijou to coordinate SAP south India. Krishna has made plan for follow up and a yearly calendar prepared. Visa Barbarity April 18, 2011

Important Advice †Do Not Deceive Essay

Humanity is facing many problems like poverty, diseases, violence, homicide, economic recession, and many other miseries, which cause fear in a blissful soul. Since money buys the means that give comfort and happiness to a human, the people are striving either to sustain the basic needs of livelihood, or to expand their existing financial kingdom. However, during their struggle for earning money, some people try to deceive others, and cause sorrow to the bereaved persons. In doing so, although they might have gained more money, but their act of deceit reverts to them, and they also suffer some kind of loss- money, health, happiness, or peace of mind. It is the law of nature that we reap what we sow. If somebody causes pain to a fellow human, then the same pain will return to the miscreant. Can anybody get happiness by snatching happiness from others? Can anybody prosper by cheating somebody through cunning means? It can be seen from the ongoing economic recession that big businesses, who had committed fraud and deception, collapsed eventually. It is true that deceptive acts lead to disaster, foreclosures, layoffs, and suffering. The manipulations in the account statements, which were done by well-paid executives, not only deceived the investors, but also caused grief to the fraudsters, who lost billions of dollars during the slump. Hence, my advice to humanity is that one should never deceive somebody. Relations and economy prosper on mutual faith, and they perish if deception becomes the means of attaining them. Bhagavan Sri Sathya Sai Baba preaches â€Å"Love all, serve all,† and â€Å"Help ever, hurt never. † Since we all are humans, and we are liable to commit errors, we should forgive others for their unintentional mistakes, and always encourage them to improve their performances. In a positive work environment, workers are motivated to produce the best results, and they try to excel through their sincerity and diligence. Please do not deceive anybody for your own benefit.

Module 5& Essay 1 Example | Topics and Well Written Essays - 1000 words

Module 5& 1 - Essay Example reated four classes which each had a set of rights and duties: they were, in order of decreasing wealth, the Pentacosiomedimni, Hippeis, Zeugitae, Thetes). These classes formed groups that eventually became the governmental bodies in a democracy. First of these bodies was the Ecclesia or Assembly, where all citizens, whatever their designation, were entitled to participate. The Ecclesia became the sovereign body, whose task it was to promulgate laws and decrees, elect officials, and hear appeals from the courts. The second group was the Boule of 400, the council of citizens tasked to run the day-to-day affairs of the city and prepare the business of the Ecclesia. Only citizens from the upper three classes could qualify to be a member of the Boule, and membership was bestowed by election. Each citizen was entitled to serve for only one year, and may serve only twice in his lifetime. Every month, 50 men are chosen by the boule of 500 from among themselves to served in the prytany (the leaders of the Boule), and every day a new leader is chosen by the 50 from among themselves. Except for holidays, the Boule met every day. Another group, the archons or magistrates was reserved for the two higher income groups, and they occupied the higher governmental post. The retired archons then comprised the Areopagus, who oversaw and called attention to any improper actions of the Ecclesia (Kurt A. Raaflaub, Josiah Ober, and Robert W. Wallace, Origins of democracy in ancient Greece, 2007). The laws eventually created by the Ecclesia eliminated slavery of Athenians by Athenians, established rules and procedures for legal redress against abusive archons, and determined political privilege based on productive wealth rather than noble birth. This early democratic system was eventually adapted by the Romans. Many of the basic principles of rule by the people were adopted; Rome had its Senate which took the place of the Assembly, and its decimviri took the place of the boule.

Uzbek Music (anthropology) Essay Example | Topics and Well Written Essays - 1750 words

Uzbek Music (anthropology) - Essay Example Thesis Statement: The purpose of this paper is to present the argument that the ethnomusicology of Uzbek music and understanding it, help to gain insights into Uzbek culture. The analysis will be supported by ethnographic evidence and examples. The rich and diverse musical heritage of Uzbekistan has contributed significantly to the establishment of a national self-consciousness and cultural identity for the nation as a whole, particularly after the country achieved independence in 1991 from the Soviet Union. The main sources are written texts including historical manuscripts, contemporary national studies and samples of traditional music notated in the Western staff system; and an extensive range of national melodies and â€Å"intonations†, together with the emotional images of the national spiritual world (Djumeiv: 166). The Uzbek’s way of life, customs, thoughts, hopes and struggle for social and national liberation are deeply reflected in Uzbek folklore, causing a variety in theme and genre of Uzbek folk songs. The main types of songs are: daily life songs such as lullabies, children’s songs, calendric songs and lyric songs, the latter including songs of love, humor, nature, meditation, etc. Family ceremonal songs such as wedding songs and laments in funerals, work songs, songs of social protest, and historical songs. In turn this thematic variety led to musical diversity. The above are the specifically ceremonial and daily-life songs, which is one genre of Uzbek folk songs. The other genre included those songs which were performed everywhere with a great variety of theme: the terma or chublama, koshuk, lapar, yalla, and ashula genres. Except for ashula, the aforementioned genres are basically strophic in structure, melodically narrow and improvisatory. â€Å"The ashula is particula rly distinctive, with its extensive melodic structure and

Subcultures & Countercultures Essay Example | Topics and Well Written Essays - 500 words

Subcultures & Countercultures - Essay Example 3) a. Dominant Culture Dominant culture encompasses the prevailing customs, religion, norms, and all things that constitute a society. Mediated by ideological representations, members of society live the dominant culture’s reality without questioning its origins. The dominant culture in the film was characterized by loyalties in the institutions of family, marriage, and moral standards. The family of the bride was traditional and ideal in the sense that the mother, father, and daughter fulfilled their stereotypical roles. The father, who was a deputy of the Cultural Order, symbolizes crumbling morality as represented by the broken marriage of the groom’s parents, and the president who slept with a black prostitute. b. Subculture Subculture refers to a societal group that embodies the resistances and deviations from the dominant culture. This segment of society possesses its own style, language, norms, and beliefs. In the film, gay men wore make-up, corsets, silk robes, and high heels. Albin (Michel Serrault) spoke in high-pitched voice and considered herself a woman. In one scene, Albin and Renato (Ugo Tognazzi) were in a bar crowded with heterosexual men. The gay subculture in that scene manifested how sexually and physically distant it was from the dominant culture. c.

M3 Mortality Data Paper Essay Example | Topics and Well Written Essays - 500 words

M3 Mortality Data Paper - Essay Example It helps to determine the competence of health facilities, the efficiency of drugs used by specific patients and the effects of lifestyle habits on health (Shi, 2008).  Ã‚  Mortality data is limited because it cannot accurately determine future death trends. Socio-economic factors, socio-political factors, lifestyle habits, natural calamities, and migration influence the value of the data since these factors are significant especially when authorities manipulate them. Therefore, mortality data is limited in the mode of collection and interpretation. Most deaths go unreported, especially those that do not occur in health institutions. Consequently, deaths that do not occur in hospitals are rarely investigated.  This may result in wrong recording and interpretation of recorded data (McKenzie et al., 2012). Additionally, recording of death in the health departments may lead to multiple records, thus distorting the figures. Descriptive research attempts to explore the health problem extensively through the analysis of mortality data.   In understanding the problem, descriptive research engages the three elements of time, place and person in integrative ways and relates findings with emerging phenomena. It appraises the regularity and pattern of the three elements as they influence public health (McKenzie et al., 2012). It also evaluates the circumstances defining a person by assessing the social patterns causing ill health and mortality. Place implies the geographic locality and its features that are likely to influence health. By studying a place, epidemiologists assess the incidences of diseases and the causation factors in the environment (Shi, 2008). Place may imply the environmental surroundings such as school, workplace, and the population density of an area. In evaluation of â€Å"person,† factors of social status, age, education levels, gender and access to health services are assessed .   The research also evaluates personal habits

BUSINESS Report Essay Example | Topics and Well Written Essays - 1000 words

BUSINESS Report - Essay Example Also we can observe that the management has redesigned the job of the workers. The hierarchical structure has been diminished and the teams hold more responsibility. Eventually, this will create new challenges for the members of the team. The jobs of the workers are enriched. The jobs of the team members are halved so that they can concentrate on the development of the team. Every fortnight the team members talk for 45 minutes to solve problems and to gather new ideas. The responsibility of the workers has been increased and the role played by the workers is changed. From mere assembly line work the job now involves various tasks such as planning, organizing, leading and directing. b) The management of BMW has taken the approach to motivate the employees as mentioned in theory Z. Theory Z mentions the major postulates of Japanese management practices and how these practices can be adopted to the environment of other countries. The major features of this theory are building trust, strong bond between the organization and employees, employee involvement and no formal structure. According to this approach, trust is the first primary factor for motivation. Trust between the members of the organization at various levels has to be built through integrity and transparency. At BMW, the work teams have been very effective in building the relationships between the employees across the organization. Another major aspect that has to be noted in this approach is the employee involvement. Any decision affecting the production practices is being done by the team members which increases the motivation of the members. Also this increases the commitment of the employees and gives due recognition to their role. Under this approach the formal structures in an organization are no longer adopted. Here, at BMW, the work teams resolve the issued irrespective of the formal hierarchical structures. The major advantages of

Differences in writing from 1945-present Essay Example | Topics and Well Written Essays - 750 words

Differences in writing from 1945-present - Essay Example â€Å"Church Going† and â€Å"The Sharping Stone† are very similar looking poems at first glance. This is because, at their most basic level, these poems both rest on the same poetic foundations. Each poem is about sixty lines long, divided into seven and six stanzas respectively. (Larkin, Heaney). The main reason they appear so similar, however, is that they both share the same poetic structure, blank verse. This poetic structure, with each line five sets of two stressed-unstressed syllable pairings and no rhyme scheme, gives both poems a simultaneous feel of modernity (because of the unrhymed, prose-style structure) and timelessness (due to their use of Iambs, the same poetic structure that Shakespeare wrote in). Clearly some of the timeless forms of English poetic structure span the tale of years and are used at the opening of the twenty-first century much in the same way they were in the middle of the twentieth. While they appear very similarly on the page due to ut ilizing the same length, stanza structure and poetic pattern, reading the poems reveal that they have more differences than similarities. â€Å"The Church Going† relies on a simple narrative structure to convey its messages, telling a story in a logical order in the first person: â€Å"Once I am sure there’s nothing going on / I step inside, letting the door thud shut† (Larkin lines 1-3). This story flows in a chronological order and makes perfect sense to the reader as such. Seamus Heaney, however, creates a series of detailed vignettes, changing scene from â€Å"an apothecary’s chest of drawers† to â€Å"Airless cinder-depths† and even switching person from first to third throughout, depending on what was most appropriate for the scene (Heaney 1, 7). While these two poems share the same bones, very different structures are built on them, from Larkin’s classic and relatively simple narrative to Heaney’s incredibly complex seri es of seemingly disconnected vignettes. An examination of short stories shows that, much like poetry, short stories have the have the same fundamentals even over a sixty year time-span. Both Bradbury’s â€Å"The Veldt† shares the same basic short story format, with exposition, rising action, a climax and a resolution. Both books open with an introduction of the characters: two parents, George and Lydia in â€Å"The Veldt and Ruma and her father in â€Å"Unaccustomed Earth† (Bradbury 7, Lahiri 3). This exposition section is quickly followed by the generation of conflict, in the forms of a broken holographic nursery which produces a lion-filled jungle to hunt the parents in â€Å"The Veldt† (Bradbury 9) and the conflict between father and daughter over acclimatization to new cultures in â€Å"Unaccustomed Earth† (Lahiri 5). Both stories also have an unexpected event for a climax and a brief denouement (Bradbury, Lahiri). Though sixty years separate them, Bradbury and Lahiri both use the same tried and true formula, and the most basic of elements of both of their stories strongly resemble each other in that respect. Like in the case of poetry, however, the structural similarities do not translate to similarities in the more nuanced aspects of each work. One of the biggest areas of difference is the sensory experience given by each book. â€Å"

Reporting Practices & Ethics Essay Example for Free

Reporting Practices Ethics Essay Financial management can be defined as both an art and a science of organizing the financial resources of an organization in such a way as to achieve maximum output from the finances that are available to the organization. (Brigham Ehrhardt, 2004). Financial management is one of the key aspects that each organization including healthcare facilities need to put more emphasis on to increase efficiency. The four elements of financial management There are four fundamental elements that guide the art of financial management (Baker Powell, 2005) these include: i) Financial accounting and reporting This element of financial management enables both the financial managers and the general managers to be able to undertake the legal reporting responsibilities by providing the information and data that can be scrutinized. ii) Financial Analysis It is an indicator of the performance of an institution or a company. It can be used to expose potential shortcomings or any weaknesses which the management should put more focus on to be able to meet both short and long term goals of the institution. iii) Financial planning Budgeting The first two elements of financial management i. e. financial accounting and reporting and financial reporting, lead to the third element which is financial planning and budgeting. The financial plans and budgets are prepared from the first two tools and will help to guide the company or institution in both the short run and the long run (Brigham Ehrhardt, 2004). This is an important financial tool that can help to identify any shortfalls or deficits in the internal funds in an institution and thus point to the need for external funding such as debt or equity financing. iv) Financial Activities These are the activities which a company can explore to be able to make up for any deficit in the internal budget. These sources of financing could include: retained earnings, contributions from donors and governments, equity and debt financing and leases or concessions. Generally acceptable accounting Principles There are several principles that can be considered as acceptable in financial management and these include: i) Consistency-this means that across all time periods, all information that is gathered and presented should be the same. It holds that a company/institution cannot for example change the way in which they do their inventory without a valid reason for the change being included in the financial statements. ii) Relevance-this stands for the appropriateness of the information that is contained in the financial statements presented. These statements should be able to help one to predict the future financial state of the company or institution. Reliability-an independent party should be able to verify the information that is presented in the financial statements. The institution must be sure that an independent auditor would come up with the same findings if they were to carry out the same analysis (Brigham Ehrhardt, 2004). This is a great way for the company or institution to prove that it is transparent and can be trusted. iv) Comparability- this means an institution’s financial statements can relate with similar businesses within the same industry. This enables investors to note the differences within an industry to compare the performance of a company in relation to others in the industry. These generally acceptable principles ensure that all the companies are on the same level playing grounds. General Financial Ethical Standards The ethical standards that should be closely observed in financial management include: i) Conflict of Interest It occurs as a result of a clash of the private interests of an individual with the interests of the company. As a result of these actions one is unable to effectively carry out the duties due to him/her in the organization. This can also be as a result of an individual or a member of his/her family receiving personal benefits in an improper way due to the position they hold in the organization (De Boers etal, 2007). Another case that can bring about a conflict of interest is when one at the time of working for a company has associations with a competitor. Thus all staff of a company should report to the executive officers any transaction that is likely to bring about any conflict of interest. ii) Corporate opportunities This deals with the fact that one should always help the company to advance its interests first wherever possible and there should be no use of corporate property or information for improper personal gain. Employees are also prohibited from competing with the company or organization either directly or indirectly. This ensures that the institution always gets top priority from its employees and at such improves business practices. iii) Compliance and Reporting All the employees of financial institutions should make it top priority to identify any potential problematic issues. They should also seek for help whenever they have doubts about the codes of conduct in the financial institution (De Boers etal, 2007). Any violation of this should lead to subsequent disciplinary action. This standard is important as it helps the institution to identify any potential problem way before they occur if all the employees observe this standard keenly. iv) Public Disclosure The information in the public domains should not only be fair and accurate, but also timely and understandable and should include the interest of all the key stakeholders in the institution. Information should not be knowingly misinterpreted or omitted or be presented in such a way as to cause others to do the same. This standard helps the institution to win the confidence of the public and more so the shareholders as it displays that their operations are transparent. v) Fair Dealing Each employee in the institution should strive to be fair in their dealings with all the involved parties and especially the clients, suppliers and service providers as well as employees and competitors alike. This helps the institution to gain goodwill of all the people the deal with and it helps to build the reputation of the institution (Baker Powell, 2005). Reporting Illegal and Unethical Behavior It is the duty of all employees to report any one that is deemed to be going against these ethical standards. This reporting can either be internal or external and it should be treated with utmost confidentiality. References Brigham, E. Ehrhardt, C. (2004). Financial Management: Theory and Practice. Boston Massachusetts: South Western College Publishing. De Boers, P. , Ruud, B. , Wim, K. (2007). The Basics of Financial Management: An introductory course in finance, management accounting and financial accounting. New York : Routledge Publishers. Baker, K . , Powell ,G. (2005). Understanding Financial Management: A Practical Guide. New Jersey: John Wiley Sons Inc.

The industrial ecology

The industrial ecology ABSTRACT:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Industrial ecology is the main topics of industrial ecology Subject. Here also come Ecology, Ecosystem, Industrial ecology, Industrial system, Relation between industrial ecology and industrial system. Then describing and discussing the similarities and differences between an ecosystem and an industrial system. Then describing and discussing the actual definition of industrial ecology in the main body of this assignment. Here we can also see that the result and the conclusion at the ends of the body. At the end of this assignment we see the references which I have added to see the original information. Introduction:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  At first we need to know what is ecosystem and what is industrial system? So we need to know, what is ecology? Ecology is a broad biological science and can be divided into many sub-disciplines using various criteria. Many of these fields overlap complement and inform each other (refer 1).So I think Ecosystem is a system which we see the natural world where every thing is running automatically called natural system is one kind of ecosystem. On the other hand industrial system is a system where we get a product or energy when we add some materials. Discipline that traces the flow of energy and materials from their natural resources through manufacture, the use of products, and their final recycling or disposal.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Secondly we need to know, what is industrial ecology? Industrial ecology is an interdisciplinaryframework for designing and operating industrial systems as living systems interdependent with natural systems (refer3).we also get in our textbook, Industrial ecology consciously incorporates the word ecology, a term originated with reference of biological system. In my assumption, Industrial ecology is one of the systems which we can contribute by the industry. It is very difficult to identify the actual definition of industrial ecology. Aims and Objectives:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  The objectives of this assignment are to describe and discuss the similarities and differences between ecosystem and industrial system and also we will describe and discuss the definition of Industrial ecology in practice and research.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  In our main goal is describing and discussing elaborately and find the main difference and similarities between ecosystem and industrial system and also we try to find and learn the actual definition of industrial ecology. Methodology:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Through gathering information from Chapter 4 of Graedel and Allenby (2003) and Chapter2 of Erkman and Ramaswamy (2003), and other on-line sources about the similarities and differences between ecosystem and industrial system and also collect the information about the definition of Industrial ecology. Here I have given two questions answer and also discuss of that questions to broader our knowledge and to give a more realistic view of industrial ecology. Describing and discussing the similarities and difference between an ecosystem and an industrial system: Similarities between ecosystem and industrial system:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  In the ecosystem we see that where use some materials and energies on the other hand industrial system we also use some materials and energies.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  If we consider the things that we get ecosystem is a cycling system and industrial system also a cycling system.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  If we consider the natural things like that biological system then we see that ecology is a one kinds of food chain and industrial system when a product finally   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  out from the system then the system also go to the beginning process.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  So it is also one kind of food chain.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Some waste out from every system, most of the time we see that in ecosystem can recover their waste naturally and industrial system also tries   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  to recover their waste. For example:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  In biological systems, trees use nutrients to produce nuts, which are eaten by squirrels, and the nut resources are used to produce baby squirrels. Some of those babies become food for foraging mammals and birds. The squirrels is thus both pray and predator, secondary producer and consumer. A similar situation exists in industry, where a factory acting as consumer may receive disk drives, housings, and key boards as a consumer and assemble computers as a secondary producer. Differences between ecosystem and industrial system:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  In the ecosystem we see that where the physical energy dont come directly like as a nutrient but industrial system where physical energy come from directly like as a mechanical or human being.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  In the ecosystem we get the primary condition and sometimes we get the secondary condition like as gas, coal, oil. But the industrial system only we get the secondary condition like as electricity, light etc.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  And at last in the ecosystem we see some wastes but maximum wastes can recover naturally but industrial system we see the waste more and most of the time it cant recover to use the system. Describe and discuss the definition of Industrial ecology in practice and research:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Industrial ecology explores the assumption that industrial activities should not be considered in isolation from the wider world but rather in terms of an industrial ecosystem functioning within the natural ecological system or biosphere.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  However here there is no standard definition of industrial ecology. Industrial ecology more or less follows three key elements which is below Industrial ecology is a systemic, comprehensive, integrated view of all the components if the industrial economy and their relations with the biosphere. It emphasizes the biophysical substratum of human activities. It considers technological dynamics.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  So we can say that if we can recover our industrial system then we get the actual industrial ecology. We can recover it by restructuring the industrial system.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  We can restructure the industrial system by using four main elements Optimizing the use of resources. Closing material loops and minimizing emissions. Dematerializing activities. Reducing and e laminating the dependence on non renewable sources of energy.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  If we consider in this four elements to restructure of our industrial system then we can see the industrial ecology. Results:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  We have already described and discussed our topics elaborately in the body assignment. We also have described the definition of industrial ecology but it is very difficult to find the definition of industrial ecology. Conclusion:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  In end of this assignment, my assumption is that the industrial system is not the same of the industrial ecology. References: en.wikipedia.org/wiki/Ecology_(disciplines) Industrial ecology(webside) www.indigodev.com/IE.html Industrial Ecology(text book) Graedel and Allenby (2003) Industrial Ecology Erkman and Ramaswamy (2003)

Role Of Law In Modern Society Law Essay

Role Of Law In Modern Society Law Essay The main role of law in modern societies is hard to overestimate. The systems are hard to understand, the institutions are different and range from small to mammoth, and the number of people concerned, from para-legal to federal judge, can only be proof of its central role in society. Law and legal issues are left to lawyers, legal theorists and the occasional sociologist. For most people, the law is only reluctantly confronted during those signature events in life: marriage, paying taxes, immigrating. The history of law is closely related to the development of civilization. Ancient Egyptian law, 3000 BC, restricted a civil code that was probably broken into twelve books. It was based on the concept of Maat, characterized by tradition, symbolic speech, social equality and objectivity. By the 22nd century BC, the ancient Sumerian ruler Ur-Nammu had formulated the first law code, which consisted of casuistic statements and in that law they just had:if then Around 1760 BC, King Hammurabi further developed Babylonian law, by codifying and inscribing it in stone. Hammurabi placed several copies of his law code throughout the kingdom of Babylon as steal, for the entire public to see; this became known as the Codex Hammurabi. The most intact copy of these steal was discovered in the 19th century in Britain, and has since been fully transliterated and translated into various languages, including English, German, and French. Civil Law and Common law The terms of common law system and civil law system are different and used to discriminate two distinct legal systems and approaches to law. The term civil law refers to jurisdictions that took over the continental system of European law resulting basically from ancient Roman law, but much accept the Germanic tradition. The term common law refers to all legal systems, which have adopted the historic English legal system. The distinction to be made between the two systems is that the common law system has a certain characteristic to be case-centered and hence judge-centered, allowing scope for an optional, pragmatic approach to the particular problems that show before the courts. From one point, the law can be developed on a case-by-case basis and from another point the civil law system tends to be a codified body of general abstract principles that control the implement of judicial discretion. In reality, both these views are limited, with the former overemphasizing the extent to which the common law judges can impose their discretion and the latter underestimating the point to which civil law judges have the power to exercise judgment. It is possibly significance mentioning at this point that the European Court of Justice, established, in assumption, on civil law principles, is, in practice, increasingly recognizing the profit of establishing a body of case law. Even though, the European Court of Justice is not bound by the operation of the doctrine of stare deices, it still does not decide personal cases on a personal basis without reference to its previous decisions. Substantive vs. Procedural Law Substantive law refers to all categories of public law and private law, including the law of contracts, real property, torts, and criminal law. First, there is a brief definition of the two terms. When you say substantive law, it actually mansions to the written or constitutional law which governs the connection between people, or between people and the state. Procedural law is the set of rules followed when a court is hearing a case so it basically dictates what will happen during a civil or criminal proceeding. Compare this with procedural law, which provides a government with the machinery to implement the rights and duties as distinct in substantive law. In laymans terms, substantive law defines how the facts in a case will be handled, as well as how a particular case is to be charged. As the name implies, its the substance of the case that is being handled. Only procedural laws can be applied to non-legal contexts, but substantive law cannot. Procedural law is more about how the law will be executed, while substantive law provides the legal result to a case. Summing up: 1. Substantive law is about the characterization of peoples rights, duties and power, while procedural law is about prescribing the form and order by which the law will be enforced. 2. Substantive law defines how the details or information in a case will be handled, while procedural law defines the step-by-step process that the case will go through. 3. Substantive law cannot be applied to non-legal contexts, while only procedural law can be applied to non-legal contexts. 4. Substantive law defines how the case is handled, and how a crime is to be charged, while procedural law describes the method in which a case will progress. Criminal and civil procedure Criminal and civil procedures are not similar to each other. Even if some systems, together with the English, stand for private persons to bring a criminal prosecution against another person, prosecutions are almost always in progress by the state, in order to punish the defendant. The cases are usually in different courts, and juries are not so often used in civil cases. Civil procedure is the main body of law that sets out the rules and principles that courts follow when adjudicating civil lawsuits. These rules manage how a lawsuit or case may be commenced, what type of service of process is necessary, the types of pleadings and statements of case, applications, and orders allowable in civil cases, the timing and manner of depositions and discovery, the conduct of trials, the process for judgment, various available remedies, and how the courts and clerks should function. Civil procedure is central, necessary and special procedural systems even criminal procedure has tended to develop or extend as variations on the civil procedure model. Civil law proceeding is that evidence is received and the summary record prepared by someone other than the judge who will decide the case. In civil law nations, where there is no tradition of civil trial by jury, an entirely different approach has developed. There is no such thing as a trial in our sense or no single, concentrated event. The typical civil proceeding in civil law country is actually a series of isolated meetings of and written communications between counsel and judge. Criminal One of the most comparisons one hears made about criminal procedure in the two traditions is that the criminal procedure in the civil law tradition is called inquisitorial at the same time as that in the common law tradition is called accusatorial. The criminal trial is a challenge between the accusers and the accused with the judge as a referee. Usually the proceedings takes place publicly and orally and is not preceded by any official investigation or preparation of evidence. At the same period of time there are important differences between civil and criminal procedures. The most civil law system consists of separate codes of civil procedure and criminal procedure. The principle of evidence plays more important role in a criminal case if the people judging it doubt the guilt of suppose and have a reason for this doubt a crime cannot be proven. But in a civil case, the court and judge will evaluate all the proof and decide what is most possible. In civil matters the parties are the plaintiff and the defendant. In criminal matters the parties are the Crown and the defendant, in civil matters the parties are the plaintiff and defendant. A prosecutor conducts the case on behalf of the Crown. In the Magistrates Court the prosecutor is a police officer while in the higher courts the Director of Public Prosecutions conducts the prosecution. The plaintiff or prosecutor must prove their case before the court. Conclusion In conclusion, essay explains the differences between criminal procedure and civil procedure and different legal systems.

Essay on Voltaire’s Candide: Use of Language -- Candide essays

Use of Language in Candide      Ã‚  Ã‚   A great philosopher Liebnitz once said that this is the best possible of all worlds. Voltaire disagrees. In Voltaire's Candide, the impartial narrator travels to distant lands and experiences a range of extremes. After having spent a great deal of time away from his homeland, and having seen more than most people see in a lifetime, the narrator is forced to conclude that this may not be the best possible world because of the reality of evil. Voltaire relates this point very effectively through his mastery of language and the choices he makes, both gramatically and content-related.    In one particular passage, Voltaire uses explicit diction, exaggerated details and manipulated syntax in order to contrast the optimist's romantic view of battle with the horrible reality that is war. Voltaire's grossly exaggerated details give a somewhat comical description of an otherwise horrible event.   "The cannons battered down about six thousand men", and then "the musket-fire removed...about nine or ten thousand" and finally, the bayonet kil... ...g his lifetime, Voltaire awakened people through his writing.   He masterfully chose his diction and details to show the contrast between the ridiculous ideas of the optimist and the truth that only the realist could see.   His choice of syntax leaves the reader with unforgettable images of war that will have a lasting effect.   Through his clever satire, Voltaire urges the reader to be more practical rather than happily ignorant.    Work Cited: Voltaire.   Candide.   Trans. Bair, Lowell.   New York: Bantam Books, 1988.

Essay --

1. There is a very homoerotic/masculine feel from the opening scene of Rambo III. We are introduced to a ripped and glistening character that looks like he has been bathing in baby oil/tanning oil for the past 48 hours. There is nothing that seems to hurt Rambo as he takes every blow delivered to him in the opening scene. He is also willing to kill countless amounts of Russians in order to save the American general. The game that Rambo learns to play? It is only a physical game played with goat carcass. Rambo is made out to be un-stoppable and even God-like. When Trautman reveals that Rambo is coming to resue him, Zaysen asks Trautman who he thinks Rambo is†¦God? Trautman replies, â€Å"No, God would have mercy†¦he won’t.† Rambo would rather die than not fight for what he believes in. Even at the end, when all seems lost, he refuses to go down without a fight. His determination to fight is the greatest testament to his masculine identity. The Afghanis respec t this and in this sense, Rambo almost becomes a martyr to them. By the end, it almost seems like they aren’t fighting for themselves, but for Rambo! In relation to Jeffords, the â€Å"hard-body† physique is clearly present with Stallone’s character as are the narratives of heroism, toughness, strength, etc†¦ in the film which helps to clearly demonstrate the mastery over foreign enemies. 2. Orientalism is the way that the Middle East is depicted by its’ friendly acquaintances over in the West. In other terms, it is a â€Å"racist discourse which constructs the orient for Western aggrandizement.† The way that the Afghans are depicted in the film alongside Rambo makes the audience sympathize with them. The little boy also looks up to Rambo. He looks up to him a masculine father-figure. Using th... ...ew what we know now. If only they knew about how 9/11 and the actions the Bush administration took because of it. Furthermore, I wouldn't be surprised if the same question asked of Rambo â€Å"Where’s the honor here?† is asked today by Afghans/Pakistanis wondering where the â€Å"honor† is in unmanned drones? It was hard to figure out who to root for in the film†¦especially with historical bias†¦because the Taliban and entire nation of Afghanistan are made out to be heroes in the film. Back then, it may have been acceptable to insinuate that anyone fighting Russia was practically Christ. They are even referred to as â€Å"freedom fighters† in the film (President Reagan would use this term as well). Today though, we have to watch this film while knowing about the death and destruction caused by terrorists on September 11. Back then, our present â€Å"enemies† were our former â€Å"comrades.†

Punishment Versus Rehabilitation

Punishment vs. Rehabilitation Brenda A. Dove AJS/502 Version I September 10, 2012 John V. Baiamonte, Jr. Ph. D. Punishment vs. Rehabilitation Punishment versus Rehabilitation, there has been many debates on the effectiveness of punishment compared to the effectiveness of rehabilitation of convicted offenders in prison and under community supervision. If an individual commits a crime serious enough to warrant incarceration, then the individual is sent to prison as a form of punishment.While incarcerated the individual may have the opportunity to receive rehabilitation. Does it mean that the individual will be rehabilitated? One can only imagine. This is a debatable issue. Is punishment or rehabilitation more effective in combating crime? These findings will be discussed in this paper in more depth. According to DeLuca, Miller, and Wiedemann (1991), â€Å"Some prison facilities use punishment as the main approach, such as Texas. Massachusetts and Connecticut stress rehabilitation, and some facilities use punishment and rehabilitation, such as Michigan.There is currently no prison facility that focuses on incarceration as a short period of punishment followed by a long period of community-based rehabilitation and strict supervision† (para. 6). Rehabilitation wants to educate individuals about the wrong choices that they have made and help encourage these individuals to make better choices in the future. Rehabilitation recognizes that offenders may be victims of social economic conditions, and wants to help offenders learn from their mistakes, with the intention of not committing crimes when they get released.According to Logan, and Gaes (1993), â€Å"Meta-analysis is the study of other studies, and in this case, the studies test the effectiveness of various programs of correctional treatment. Advocates of rehabilitation believe that meta-analysis can be used to supply deposits of prior research, to reveal hidden veins of effective treatment not necessarily revealed by individual studies† (para. 2). According to Logan, and Gaes (1993), â€Å"Each study is coded on a number of variables such as characteristics of the research design, characteristics of the subjects studied, and haracteristics of the treatment applied. In theory, by combining and reanalyzing studies, meta-analysis may be able to separate treatment effects from differences due to uncontrolled characteristics of the subjects, or other deficiencies of research design, even if those sources of error were not controlled adequately by any of the primary studies taken separately† (para. 3). According to Logan, and Gaes (1993), â€Å"It may not be worthwhile to debate whether meta-analysis or other research has identified â€Å"what works† by way of prisoner rehabilitation.Engaging in such debate presupposes that effectiveness, or utility, is the crucial issue in discussing the value of rehabilitation in the criminal justice system generally and inside pris ons in particular. Underlying the zeal with which meta-analysts claim to have proved scientifically that â€Å"something works after all† is the implicit argument that because rehabilitation can be made more scientific it is therefore both a viable and a desirable alternative to punishment† (para. 4).According to Logan, and Gaes (1993), â€Å"The meta-analysts believe that we turned away from treatment and toward punishment because Martinson and others convinced everyone that nothing works; therefore, convincing people of the opposite should help to turn them back in the â€Å"proper† policy direction† (para. 5). According to Rhine, Smith, and Jackson (1991), [In 1974, Robert Martinson published â€Å"What Works–Questions and Answers about Prison Reform,† an article describing research on the effectiveness of correctional treatment.Martinson made several key points about a massive review of research on correctional treatment. His first point was that the research showed that there was not much good news about rehabilitative programs. Some programs worked, but they were few and far between (para. 1). The second point, which was largely ignored, was that the quality of the program implementation and research was so poor that it was hard to draw many strong conclusions. The nuances of his findings were lost, and the research was presented as showing that correctional treatment programs did not work at rehabilitating criminal offenders.The infamous sound bite that emerged from this was that â€Å"Nothing Works† when it comes to rehabilitation (para. 3). In fact, the actual results said no one approach works with everybody. Despite the fact that the sound bite was an exaggeration, the message carried great influence in legislative and public policy debates and actions. The Nothing Works message swept the political and public policy arenas and correctional programs and practice. Rehabilitation programs and services wer e greatly reduced from the correctional landscape (para. ). This belief indicated that if offenders could not be rehabilitated then they should be punished and it was time to get tough on crime. Within a relatively short time parole was attacked and the individual approach of indeterminate sentencing, or release by the authority of a parole board was abolished in 16 states (Rhine, Smith, and Jackson, 1991) and some form of determinate sentencing was adopted in all 50 states (Mackenzie, 2000)]. According to Department of Corrections, (n. d. ), [However, not all hope was lost.A small number of vocal critics of the ‘nothing works’ doctrine actively challenged the assumptions and empirical evidence presented by Martinson and colleagues. Foremost in this debate were a number of North American researchers, including Ted Palmer, Paul Gendreau, Don Andrews and Robert Ross. At the same time as Martinson was announcing that very few things had any effect on recidivism, Palmer (19 75) was reanalyzing the same data and finding that more things worked than the original analysis showed (this position was also supported by Thornton’s (1987) reanalysis of a selection of studies used by Lipton and co-workers in 1975).Similarly, Gendreau and Ross (1979) and Ross and Gendreau (1980) were reporting on research that documented positive outcomes, directly countering the argument that nothing worked. Perhaps the most damaging blow to the ‘nothing works’ position was delivered by Robert Martinson himself. In 1979 he wrote a paper which acknowledged errors in the earlier reviews and reported on a number of new studies which demonstrated that some things did work. On the basis of substantial contradictory evidence, Martinson recanted the ‘nothing works’ statements made in his 1974 article] (para. ). Incarceration is for those offenders that have broken the law and as a result they have received imprisonment. It punishes offenders for what th ey have done wrong and acknowledges the victim by giving them justice for the wrong that has been committed against them by the offender. Incarceration allows the offender to be confined and take some form of initiative to seek help and learn how to change their behavior. If an offender wants to change their life around, they can seek the necessary resources to make those changes. Offenders have to want to change their lives around.If offenders do it simply because they are made to do so then, they will eventually be back in prison. It is about changing the mindset and making a decision to turn away from wrongdoing and make the right decision to make positive choices. Punishment is more effective in combating crime. It helps offenders to understand what they have done wrong and accept accountability and responsibility for their behavior. Punishment is a constructive endeavor, not a destructive endeavor. Punishment is a positive good rather than a negative evil. It requires the right people with the right attitudes.If prison officials are hostile, cruel, and inappropriate towards inmates, it defeats the purpose. Prison officials need to be professional and firm but respectful towards inmates. If inmates are not treated fairly in prison, they will find it hard to understand that it is fair for them to be incarcerated in the first place. In order for inmates to accept their punishment they must understand that it is just, not malicious. The duties and responsibilities of prisons are to manage and handle their facilities to the best of their ability.In closing, it is not the responsibility of prisons to reform, rehabilitate, or reintegrate offenders into society. Each inmate needs to be responsible for their own wellbeing, social correction, and their future conduct. While it may not be an easy task for any inmate, they have to make the decision to change their life around. It has to be there decision; no one can do it for them. They must have the right mindset an d be willing to make changes for the better. References Bureau of Justice Assistance. (n. d. ). â€Å"Nothing Works†, Retrieved on September 10, 2012, from, https://www. bja. gov/Publications/APPA_PSN. df Department of Corrections. (n. d. ). Historical Background: The â€Å"What Works? † Debate, Retrieved on September 10, 2012, from, http://www. corrections. govt. nz/research/the-effectiveness-of-correctional-treatment/historical-background. html Federal Bureau of Prisons. (1993). Meta-Analysis Rehabilitation of Punishment, Retrieved on September 10, 2012, from, http://www. bop. gov/news/research_projects/published_reports/cond_envir/oreprlogangaes. pdf National Criminal Justice Reference Service. (1991). Punishment vs. Rehabilitation: A proposal for revising sentencing practices, Retrieved on September 10, 2012, from,

Managerial Behavior Essay

Manager is anyone who responsible for the work of other people. Stewart (1988) defines manager as those above a certain level in the hierarchy, usually those above foreman level on the works side and those above the first level of supervision in the offices. Managerial behaviour is the behaviour that can be reported, whether from observation by others or by self-reports. Managerial objective is the aim that a manager of a firm wants to achieve. In perfect markets a proper managerial objective is to maximize its firm’s market value. The powers of the managerial behaviour are by no means unconstrained. On one hand they are constrained by the shareholder, involuntary takeover, and by the debt market through threat of capital starvation while on the other hand they are constrained by the ever present force of competition in product markets and its managerial labour market. While there are significant differences among countries, managerial constraints are ineffective and managerial objectives predominate. The first constraint in managerial behaviour is coming from the share holders. The reason is that, dispersed ownership in large firms increases the principal-agent problem due to asymmetric information and managers are subjected to bounded rationality. Because the contracts between managers and shareholders are unavoidably incomplete as future contingencies are hard to describe, shareholders must monitor managers. However, the cost of monitoring tends to be really expensive and when the equity is widely dispersed, shareholders do not have appropriate incentives to monitor managers since it is often that managers have better information and are more knowledgeable. The common solution is by appointing the Board of Director with the fiduciary obligation to look out for the best of their interest and monitor managers. Nevertheless, this is only partially successful since in most cases the Board of Directors is also in the management. One way to align manager is by introducing Management Remuneration Schemes. This is not only to motivate managers to work harder or guarantee them a  competitive salary, but a way of getting them to work in the interests of the owners. The remuneration scheme is the signal of owner expectations from management and can be divided to Cash-Based which includes performance-related and profit-related, and Share Ownership or Share-Value-Based. The argument for cash-based incentives is that it provides motivation for effort and cooperation to maximize results for the firm, and that it is good for morale if managers get more when profits are good. However, the disadvantage is that, it transfers part of the risks of a firm to the managers, who if they are risk-averse might prefer incomes which were smaller on average, but safer. Among the share-based systems, the most common are stock options. Stock options are long-term incentives, normally supplementing short-term schemes like performance - related pay. Nevertheless, when managers are subjected to stock options compensation, they are most likely to focus more on their stock returns. The effect in shareholders control to manager is different among countries. For cooperative system in European countries, constraints on managers are not only coming from the owners, but also from other stakeholders such as employees, customers, suppliers and the local community. Therefore, managerial behaviour is highly constraint in this region. Unlike in the Europe, the concept of the stakeholder firm that emphasize cooperative labour relations was largely ignored by US and UK whereby shareholders are the only residual income claimants and risk bearers in a firm (Fitzroy 1998). In the UK and US, maximization of shareholder value is generally regarded as the only legitimate goal of the firm through stock-options or bonus payment which leads to high basic salary and other payments. Hence manager of a larger firm not would prefer to be risk-averse rather that achieving profit-maximizing and would intend to pursue operations that are subjected to lesser risk as they had already receiv ed high incomes (Fitzroy 1998). In addition, for a large company with dispersed ownership structure, shareholders have little incentive to discipline the management to act in their interest due to free-rider problem. The second constraint that is being used by the owner for disciplining management and correcting managerial failure is the takeover mechanism which  resulted in the downsizing of multi-sector conglomerates. Managers will wish to have certain amount of net profits to distribute as dividends in order to keep their shareholders satisfied with the firm’s performance. Unsatisfied shareholders may either replace the manager or attempt to sell their shares causing share devaluation and encouraging hostile take over bid (Moschandreas 2000). Meanwhile, the manager wants to keep their jobs and will try to increase the costs of takeover to the potential bidder is decreasing in takeover costs which mean the higher the take over cost, the more unlikely the firm to be take over and therefore the managers will have higher job security. Countries differ dramatically in the ease and frequency of takeovers which arises not only from differences in the regulatory framework underlying takeovers but also from cultural and historical attitudes towards takeovers. As for equity-based countries like US and UK, with dispersed ownership, take-over threat is higher caused by devaluation of shares as bidders are much feasible to raise large sums of money. Besides, there are also difficulties in manager entrenchment and higher liquidity in secondary markets which facilitates transfer of large blocks of voting shares has also made take over threat more feasible. On the other hand, in the bank-based countries, take over mechanism is unlikely to work because the cooperative society usually retains their majority of the shares. For example, in German and Japan are virtually unknown because of the concentrated ownership and long-term relationship investing by banks, the manager is entrenched and takeovers are ineffective in disciplini ng him. Creditors which are mostly banks are another type of constraint in managerial behaviour. By pooling the resources of many depositors and lending to many firms, creditor can hold a substantial piece of a firm’s debt giving banks incentives to monitor. In most cases, manager issues bank debt in order to raise capital. The controlling effect of debt is firstly that, as it is normally granted for a relatively short period, management must make a real effort to find productive ways of operating in order to amortize the loan, and secondly, if the company is unable to meet its debts, the creditors have  the right to apply for bankruptcy and realise the loan guarantees. The cost of monitoring by banks differs across economies as countries differ widely in regulatory regime applicable to the banking system. Japan and European systems are typically bank-based and owner concentrated, where as American ones rely on the stock market and dispersed ownership. The differences are due to legislation, the nature of financing and also partly to social attitudes. Since the creditor-depositor relationship is closer, banks in these Japan and European countries also have lower cost of bank monitoring. Therefore, manager in these region are much more constraint by their creditors. However, unstrict legal systems in concentrated ownership will offer a lot of discretion to the manager, allows him to make project choices which are in his best interests, for example the choices which accord him with larger private benefits. On the other hand, US and UK have legal restrictions on corporate shareholding and are tends to have external relationship with the depositor which has lead to problem such as asymmetric information in the Principal-Agent relationship. The environment in US and UK is not conducive to bank monitoring are regarded as having a high cost of bank monitoring. However, in dispersed ownership, monitor through creditors is ineffective since manager will adhere to the bank debt only if his private benefits are much lesser than the benefits that he will get from commitment with the bank debt. In addition, they would rather prefer to be risk-averse than undertake any risky decisions. The next constraint on managerial behaviour is due to product market competition. According to Leibenstein (1966), there may be a substantial amount of X-efficiency if output markets are perfectly competitive because manager would normally work harder and more effective. Contrarily, in situations where competitive pressure is light, manager will trade the disutility of greater effort, or search for the utility of feeling less pressure and of better interpersonal relations. In addition, Schmidt (1997) stated that, when the product market for managers is tough, an increase in competition is less likely to also increase in incentive schemes. He argues that increased competition reduces the firm’s profit, which induces the manager to work harder for a cost reduction in order to avoid liquidation. Nevertheless, rising of product market power will also increased the managerial discretion because manager has more bargaining power and will takes this opportunity to pay more attention on increasing their incentives rather than committing themselves to maximize the firm’s profit. Plus, in order to retain its competitiveness, a company will invest in long-term product development, but managers are actually more concern on their own short-term-less-risk goals rather than long-term ones that would lead them to pursue their own objectives instead. Product market competition is also different among countries. For instance, competition between individual is stronger in the US than in UK as in the US, the inefficient manager will be fired more readily. In the latter, incompetent but long-service managers in a large company used to be kicked upstairs and given jobs with a high-sounding title but which did not let them handicap the firm’s efficiency (Stewart 1985). The fifth constraint in managerial behaviour can be classified as the managerial labour market. In managerial labour market, managers are preferred to be associated with good performance because this would allow them to earn a good reputation. Additionally, they have also found that executive cash compensation and top management turnover are strongly performance-sensitive. Top executive turnover is shown to serve as a disciplinary mechanism punishment for corporate underperformance whereas compensation rewards good performance and will provide strong managerial incentives to seek superior corporate performance in the subsequent periods. This type of managerial constraint is somehow ineffective in controlling managerial behaviour since manager would not want to commit to any risky projects because their decision might disrupt their good labour market and therefore will affects their incentives. Since all of the managerial constraints are ineffective in controlling the managers, they will tend to pursue their own objectives which would much benefit them later rather than aligning themselves to the owners’ interest.  Managers may want to choose projects that give them a larger level of discretion and higher private benefits of control. According to Dicretionary Theory, Baumol (1959) argued that manager’s aim is to maximise their sales revenue while Williamson (1964) stated that managers would create discretionary funds for investment and spend excessively on emoluments and staff expenditure (Moschandreas 2000). The first reason is because most managers want to achieve short term goals. In fact, any accounting based measure leads to short term thinking and may be counterproductive since managers often influence and control accounting practices. Most common stock-based managerial incentive plans are relatively liquid, such as stock options with stock appreciation rights or share-performance cash bonuses. Additionally, if they are going to negotiate for a certain matter they will also adopt to short termism actions. For example, the recent merger between Time and Warner company has raise doubts to the public since the entire merger was took place for only five months and all other aspects of the agreements came very easily. However, recent findings has proved that the one real deal-breaker was took place for the compensation benefits of the head of Time-Warner. The second reason for predomination of managerial objective is because they want to maximize their own incomes i.e. private benefits, managerial ownership of the firm, expected cash flows to equity holders and salary. Manager will pursue their objective anytime when the private benefits are sufficiently large to offset the incremental value of his share of the higher cash flows as a result from his alignment. In Europe and Japan, managerial salaries do not seem to grow faster than average pay and indeed CEO in these countries tend to earn lesser than their US counterparts today. In these regions, stock options are not widely being used and PRC are less important since it have no detrimental effects on firm performance (Fitzroy 1998). Contrarily, in UK, CEO compensation rose much faster than average pay throughout the 1980s and 1990s. More companies were introducing PRC, stock options and bonus schemes to align managerial incentives and shareholders’ interests and detailed studies had shown that  this system to be tenuous at best. According to Bureaucratic theory by Monsen and Downs (1965), the best established empirical fact about top manager’s pay is that total compensation is closely related to the firm’s size. Stewart (1985) argued that the manager of large companies would become more bureaucratic because of increasing in size and greater complexity. Therefore, in large firm, for the same level of positions, the managers are getting more pay compared to the smaller one. This has contributed to predomination of managerial objectives in large firm in maximizing their incomes. The second reason for predomination of managerial objectives is because most managers are risk-averse because they expected to be blamed for failures but inadequately rewarded by the profits of success and pay depends on output will exposes employees to greater risk (Milgrom and Roberts 1992). Managers therefore prefer to diversify in their decision making between unrelated lines of business which would lead to devaluation of firm because of lack of economies of scope. Additionally, outside shareholders would like manager to maximize the value of the firm as this will lead to higher share prices but managers would try to offer shareholders steady capital gains and earnings increases, in contrast to possibly more fluctuating but on average more lucrative possibilities. The third reason is because manager would always want to have a very high job security. Most managers don’t dare to jeopardise their jobs to achieve profit maximization by taking high risk decision. According to the Growth theory by Marris (1964), the various possible candidates for inclusion in a managerial objective function are collapsed into the single motive of desire for sustainable long-run growth in size. Managers have the power to pursue a long-term growth rate faster than the one which would be optimal for shareholders, but the further they go, the more they are in danger of depressing the market value of the firm to the point where there is a serious risk of involuntary takeover, the latter being feared because it means loss of job. Hence, manager may want to subject to unprofitable on average as this will increase both the size of the firm and also their own compensation (Fitzroy 1998). The fourth reason is because managers may want to sustain their political reputation in the firm and would only run his objectives that will not disturb their political reputations. This would enable them to maintain supports from their staffs. In Japan, the preservation of individual status and prestige is much more important than in the US and UK. Promotion is largely by seniority at all levels (Stewart 1988). Some managers may want to pay their employees more than they deserve to maintain good relations with them and hence increase their political reputation and makes them more entrenched in the company. As for conclusion, it is considerably clear that managerial behaviour is ineffective in controlling managers because they are more preferred to achieve short term goals, maximizing profits, being risk averse and securing their job security, which has lead to predomination of managerial objectives. The Growth Theory by Marris, Discretionary Theory by Baumol and Williamson, and Bureaucratic Theory by Monsen and Downs explain clearly the reasons for objectives predomination by managers. Besides, there are also different impacts of managerial constraints on managerial behaviour among bank-based and share-based system on different countries i.e. European, Japan, US and UK. Lastly, in any large firms regardless of the system of corporate governance, it is impossible to totally eliminate the predomination of managerial objectives. However, this problem can be reduced through development of management control systems and development and evaluation of remuneration schemes.

Brain Drain In pakistan Essay

1.Brain drain is basically understood as the country’s loss of highly-skilled human capital together with a simultaneous lack of â€Å"brain circulation†, that is, the flow of talent from one country to another country. Pakistan is facing a twofold challenge, on the one hand an alarming increase in the skill level of human capital exiting the country’s economic system, particularly the scientifically- and technologically-skilled personnel, resulting in the erosion of national competitiveness. On the other hand, there is the system’s poor ability to attract skilled human capital from the rest of the world. A loss of our talent, combined with an inability to attract foreign â€Å"brains†, heavily penalizes the country in the context of a globalized world that increasingly competes on the basis of knowledge and innovation. The policies instituted to date by the our govtt, as well as by the private sector, aimed at reversing outward flows or attracting highly-skilled individuals to Pakistan have been inadequate. The main shortcoming of these policies has been that they have taken the form of low-key and often uncoordinated initiatives Aim 2. To find out the causes of Brain drain in pakistan and suggest measures to dec it. Seq 3.This paper will be unfold in fol seq:- a.Definition and types incl cat of skilled pers of brain drain b.Factor Causing brain drain. c.Remedies for brain drain. d.Analysis e.Recommendations f.Concl Definition and types of brain drain 4.What is Brain Drain.It the phenomenon of abandonment of a country in favor of another by professionals or people with a high level of education, generally following an offer of better pay or living conditions as well as improved conditions for conducting one’s professional activities. 5.Types.Fol are the types of brain drain :- a.Eco Brain Drain b.Religious brain drain c.Educational Brain drain d.Intellectuals Brain drain 6.Fol are the cat of skilled pers who form part of brain drain:- a.Corporate transferees. These persons operate at an international level through internal labor markets. Their transfers are prompted by various reasons and may last for periods of time of varying length. Frequently, such transfers are motivated by career advancement and training needs. This category also includes specialists in production systems, marketing and research; their transfers meet the organizational needs of the firms for whom they work .b.Technicians and visiting firemen. These are individuals whose movements reflect the specific occupational skills they possess. Their movements can take place within international labor markets or within the ambit of the operations of multinationals. Transfers may be related to specific development projects, or they may come about unforeseeably or in response to management needs in crisis situations. c.Professionals.Who often work in the healthcare or education sector, and are frequently engaged by non-governmental organizations (NGOs). Selection takes place on an individual basis and is for specific periods of time abroad. In some NGOs, deployment abroad may become permanent. d.Project specialists. Their migration is related to specific projects being carried out abroad. Transfers technically speaking go through internal labor systems, although sometimes these persons are recruited on the external labor market for limited contract periods. e.Consultant specialists. An increasing number of white-collar organizations are resorting to engaging specialists for a wide range of activities. The destinations are global, according to the organizational structure of the client. The consultancy firms themselves are becoming transnational in nature. f. Private career development and training. Many people are seeking opportunities through external labor markets for career advancement and further training, which necessitate stays of varying lengths abroad. This group includes different professions, but also young people in their early career years seeking experiences in foreign settings. This category also includes those who are in later stages of their career and whose transfers may be read in terms of â€Å"chasing the dollar†. g.  Priests and missionaries.   Religious and â€Å"semi-religious† orders who traditionally send their members abroad for periods of varying durations. The groups involved overlap with other types of emigrants, especially in the healthcare and education sectors. h. Entertainers, sportspersons and artists. This is a diverse internationally mobile group of persons whose stays abroad are often for brief periods. Some of them can, however, settle overseas permanently. i. Academics, researchers and other academic staff. There is a substantial exchange of academics and researchers between universities and similar institutions for periods of variable length. Many transfers are for relatively short periods, such as an academic term, whilst others are for longer durations (the archetypal brain drain situation). j. Students in higher education institutions. A growing number of young people are undertaking studies abroad, at all levels and for periods of varying duration, ranging from several months to a number of years. k. Spouses and children of the abovementioned categories can be reasonably included in all evaluations of the migration processes of highly-skilled individuals, though in strict labor-market terms, their inclusion would be questionable. Brain circulation This concept describes training and career paths in which students or workers go abroad to specialize and then return to their country of origin, drawing on the experience they have amassed to secure more advantageous employment conditions. Factor causing brain drain in Pakistan 6.Some of the major causes of brain drain are as fol ;- a.Un-employment b.Social Injustice c.Lack of institutional Facilities. d.Poverty e.Lack of Nationalism f.illiteracy g.Lack of Counseling Institutions h.Provisional Discremation. PROPOSALS FOR ACTION: GOVERNMENT AUTHORITIES In terms of government authorities, five main areas of action are proposed: investment in research on par with that of other major economies; clear-cut policy choices that promote brain circulation; the adoption of models apt to encourage study and specialization abroad, and a subsequent return to Italy; the establishment of public-private partnerships; and the facilitation of entry visa procedures for foreign researchers and talent. In terms of universities and other public and private research centers, the work to be done is extensive and should form part of an earnest reform of the university system. There are at least nine main areas of action proposed: an overhaul of competitive exams for academic posts; the establishment of PhD courses in line with modern and competitive criteria; the delocalization abroad of periods of university and postgraduate study; the creation of academic centers of excellence; a shake-up of research funding; the conduct of university courses in English and the internationalization of curricula; the optimization of remuneration packages; mandatory retirement at age 65 in respect of all managerial roles performed by university academics, with a view to facilitating renewal; and the establishment of exchange programs. A boost in research investment First and foremost, we note that research cannot be undertaken without investment. Paksitan spends 0.8% of GDP on research and development (2008 figures). This percentage is surprisingly low compared to that for countries such as the United States (2.8%) or the Swiss Confederation (2.9%), but also relative to the European average (1.8%). The adoption of policy choices aimed at promoting brain circulation Policy choices apt to facilitate the departure and arrival of skilled human capital from around the world are a necessary precondition for Italy to be geared towards social and economic development that is competitive with that of other countries. Such policies should also tackle the social immobility, patronage, parochialism and vested interests that have historically contributed to the brain drain from Italy and, at the same time, hinder the influx of skilled human capital to our country. The creation of public-private partnerships Government institutions should encourage partnerships with the private sector and with universities, and strengthen their links with the local labor market. Such collaborative relationships would also instill a more international and global culture in a society that would become more competitive and transparent. Proposals for action: universities and other research bodies It is essential that our universities and other research centers be made attractive, international and accessible to foreign students and researchers, in order to help even out the balance between incoming and outgoing talent. This obviously entails making the university system more open and meritocratic, giving rise to a need for serious and farsighted reforms. The creation of centers of excellence In order to ensure the workability of two-way exchange programs, it is necessary to create centers of excellence capable of attracting and hosting the best international students and researchers, providing them with a standard of quality similar to that in their sending country or which they would be able to find elsewhere in the world. A shake-up of research funding We propose that an end be put to indiscriminate funding, which should instead be allocated according to peer-reviewed proposals with calls issued on a regular basis. Adjudication panels should draw on international experts with no ties to the research institutes associated with the proposals. Medium-term and final reports should be required and be a key condition for obtaining further funding. Remedies For Brain Drain in Pakistan 6.Some of the major remedies of brain drain are as fol ;- a.Aval of jobs. b.Provn of Social Justice c.Improvement in institutional Facilities. d.Eco Reforms e.Uplifting Nationalism f.Security Sit g.Making of Counseling Institutions h.Role of Media. i.Revision of Immigration Policies

Environmental economics Essay

It is a familiar characteristic of city life; it is a type of large scale outdoor pollution. It consists of fog grossly contaminated by the product of the inefficient combustion of coal. Chemical reaction between pollutants derived from different sources primarily automobile exhaust and industrial emissions. For each city that exact causes of pollution may be different, depending on the geographical location, temperature, wind and weather factors, smog in its acute form occurs especially during the warm months of the year. Notable, air pollution disaster of this kind was recorded in December 1952 where London smog lasted in the acute stage for five days and overall for ten days. Casualties were among cattle and opera performance had to be stopped after the audience had no vision of the stage. More seriously though, it was estimated to have been directly responsible for an additional four thousand deaths. Specify the externalities/factors that have made this problem and the extent of the externalities involved, the impact and recent trends. In pure market economy resource allocation is the result of the decisions of consumers (households) and producers (firms) who seek to maximize the difference between benefit and incurred costs i. e. private benefit and private cost. But in the weakness of the market economy is that it may fail to take account of any additional benefit or cost which spill over from the original decisions. The cost or benefits additional to those which are the immediate concerns of the parties to a transaction are the spill-overs or externalities, they are not provided for directly in the market place. Due to activities of individuals or firms human based or naturally pollution occurs as a result of emitting too much of a substance to the environment so as to have harmful effects. Every time we breathe, we risk inhaling dangerous chemicals present in the atmosphere. These dangerous chemicals can be either in form of gases or particles and have diverse and numerous effects on human beings and the natural ecosystems. Because it is located in the atmosphere, air pollution is able to travel easily therefore making it a global problem and to a subject of cooperation and conflict. Emission of nitrogen oxide, carbon monoxide, sulphur dioxide, lead, suspended particulates and organic compounds that can evaporate and enter the atmosphere. Air pollution caused naturally includes forest fires, volcanic eruptions, wind erosion, pollen dispersal, evaporation of organic compounds and natural radio activity. This does not occur in abundance in particular locations. Most pollution is as a result of human activity. The biggest causes are the operation of fossil fuel: – burning power plants and automobiles that combust fuel. These few factors are responsible for up to 90% of all air pollution in the United States alone. Other cities like Japan, China, Mexico and San Paulo have some of the most deadly pollution emission levels in the world. The world we are in is driven by fossil fuels, cars and other forms of transportation i. e. tracks, trains, aeroplanes e. t. c. run primarily on gasoline derived from oil. We can therefore say that some of the pollution issues that we face currently are directly related to the energy choice we have. Cooking, heating, lighting, e. . c. for homes, work places, industries using oil, coal and natural gas making us prone to pollution. Solutions to this problem begin with the logic of cost. This is where issues of renewable energy alternatives are suggested but corresponding arguments of greater energy efficiency and reliance on renewable energy is also advocated for. Some notable air pollution disasters are for example: the most publicized issues of second hand smoking. The smokers not only harm themselves but also others close by when they breathe this smoke. Industrial emissions did contribute to respiratory symptoms for several individuals and sixty deaths in Meuse area of Belgium in December 1930. In Danara, Pennsylvania, October 1948, twenty people died as a result of smog. This is a recurring problem that has seen world population mortality rate go up, low life expectancy e. t. c, this is due to diseases present in modern society and were not present 100 years go. Define using examples how policies to reduce this problem could be measured. Benefit management Policies set out to restrict smoking are important in attaining a healthy environment and individual. Policies to regulate smoking are in effect in some locations, but personal exposure should be motivated and limited wherever possible. However a combination of scientist, legislators, business leaders and individuals is a prerequisite for adherence and advocacy with a view to achieving a better environment. In this case therefore second hand smokers are protected especially in public places, this has therefore resulted to a decline in lung cancer, respiratory cases which would have cost the government and the unsuspecting persons a lot of money for treatment. On realizing the catastrophic effect of pollution and the environmental and personal costs associated with it, monitoring the air and environment campaign lead to: (i) Education in schools and universities where students begin at a very young age learning about the effects of pollution. They are taught and trained on management and conservation which carries in handy in the proceeding years of their life. (ii) Scientific groups have also been formulated as a result of government policies. These aim to study the environment with a view of coming up with solutions of encroaching problems and finding lasting and workable solutions (iii) legislative bodes have also contributed enormously by writing down laws that control emission. In this case therefore persons found violating the set laws is liable for prosecution. This makes industries oblige to avoid pollution and consequently revert to better and safer methods of production. (iv) Policies have also enabled the setting up of regulatory agencies e. g. united nations, the atmosphere management program to carry out environmental projects. They are bale to monitor, advocate and control the environment. These and much more are examples on policy formulated for better management and monitoring of the environment. As a result therefore emission of waste to minimized, controlled and checked. Dumping, waste disposal and waste management is carried out in a better way and thus reducing pollution levels. We also see that health cases and deaths are minimized, the government and individuals end up spending less for treatment in pollution related illnesses. The scenarios and beauty of landscapes, plants, etc is also retained. Measuring the cost of reducing the problem In conducting environmental sound economic analysis, we are required to determine the environmental and natural resource impact of the project or policy in question. In this case therefore it is the smog effect. It should also handle biological and social effects. One needs to measure the impact to determine the cost of solving it and this relies on the experts such as engineers, ecologists, agronomists, etc. We also put into consideration valuing the physical impact and relationship. Environmental impact can result in a miserable change in environmental quality. Estimating cost is generally easier than estimating benefits but it is not easy. One major problem derived from the fact that benefit cost analysis is forward looking and thus requires an estimate of what a particular strategy will cost which is more difficult than tracking down what an existing strategy does cost. Another fundamental problem disposed by collecting cost information when the availability of the information is controlled by a firm having an interest in the outcome.