Opinions of Experts in the Search for Knowledge Research Paper

Opinions of Experts in the Search for Knowledge - Research Paper Example his is where the expert and the ordinary individuals diverge, in the way they form their opinion, then acquire and interpret knowledge. Who is an Expert? According to Christine Hogan (2000), â€Å"an expert is a person with a high level of intelligence, skills or knowledge in a particular sphere, reinforced by publicity and honors by others, by research and publications† (57). A more complicated definition was posited by Kurz-Milcke and Gigerenzer (2004), who stressed that an expert is a social figure in the distribution of knowledge – those who, in comparison to most, not only have more knowledge but also are able to manage knowledge transfers (42). The authors further explained that an expert can only become an expert by way of his or her performances wherein he or she translates and integrates knowledge into popular meaning systems (42). And so, a learned person who has merely acquired knowledge but has not displayed or demonstrated his learning cannot be considered one. Society will not accord him or her the status of an expert unless work or several works were published that would support his being so. No one can claim such title or role without the explicit consent of many individuals, institutions, and organizations. It is, hence, easy, based on the previous two definitions, to identify whether one is interacting with an expert. An expert is someone who has previous knowledge or expertise on the subject and also he or she is known to have demonstrated those characteristics, one who built his reputation, translating it into status and recognition from the society he belongs. An individual will know that he is talking with an expert if that person speaks authoritatively, especially basing from his specialized skills and experiences in addition to the credibility he has earned in the society. The society reinforces this with recognition since its institutions value performance and contributions to the continuing search for knowledge. The above definitions also reveal an important variable - why an expert’s opinion is valuable and this is demonstrated in several areas of knowledge.

Swot B&B Ice Cream Essay Example for Free

Swot BB Ice Cream Essay SWOT analysis is a very useful technique for understanding internal and external environment of the business based on its strengths, weaknesses, opportunities and threats. SWOT analysis on Ben and Jerry’s, we can see the secrets of its success and what are areas for growth. Strengths: 1. Ben and Jerry’s has a well-funded and large-scale parent company. 2. Ben and Jerry’s has a good reputation of the high-quality products. 3. Ben and Jerry’s has the various and innovative products. 4. Ben and Jerry’s is a powerful brand with the high market share. 5. Ben and Jerry’s has a well-known social responsibility and environmentalism. 6. Ben and Jerry’s ensures employee satisfaction. Weaknesses: 1. Less media advertisement investment. 2. Life cycle of single flavor is short. 3. High price. Opportunities: 1. Ben and Jerry’s can keep on developing new products. 2. Ben and Jerry’s can make its ice cream more convenient to buy. 3. Ben and Jerry’s can enter the Chinese market. 4. Ben and Jerry’s can cooperate with other brands. Threats: 1. Food safety. 2. The price of raw material. 3. The raise of human health awareness. 4. Already existed competitors and new competitors. Ben and Jerrys Ice Cream is best known as a premium ice cream brand and it has 800 franchises and 5800 eating locations in 28 countries around the world. Annual sales revenue for Ben and Jerry’s exceeds $132 million. (Statistic Brain, 2012) There is no doubting, Ben and Jerry’s is one of the best companies in the dessert market. Ben and Jerrys were bought over by an Anglo–Dutch multinational consumer goods company Unilever in 2000. As a world’s third-largest consumer goods company and the world’s largest maker of ice cream, Unilever not only has provided the sufficient funds and vast global market for Ben and Jerry’s, but also has offered organizational management mode and scientific management method. By virtue of good resources, Ben and Jerry’s can strengthen market, enlarge brand, perfect management and get more profit. If you do eat Ben and Jerry’s ice cream, you have to admit that Ben Jerrys is more flavorful compare with other cheaper brands of ice cream. It is because Ben and Jerry’s ice cream contain higher percentage of butterfat and it is made with high quality vanilla, nuts, chocolate, fruits and flavorings. In addition, all Ben Jerrys ice cream is made by non-genetically modified ingredients, like organic milk and organic eggs. Not all consumers can distinguish the difference of coco between West Africa and South Asia, but almost everyone knows choose organic means choose health. And high quality of raw materials can insure the tasty and healthy of Ben and Jerry’s products. Quality is the eternal subject of companies. Only good products can retain the consumers, help business win the competitive advantage from strong market competition. Meanwhile, in order to meet different people’s needs, Ben and Jerry’s has already developed over 100 flavors of products including ice cream, frozen yogurt, sorbet and ice cream novelty products and the new flavors of ice cream is developing ceaselessly. They are using special characteristics to distinguish the difference types of ice cream. For example, low sugar, and low fat ice cream have special color effects on their packages, they can attract people who are serious about weight. And some ice cream packages with different Disney’s characters for attracting more children. Ben and Jerry’s strengthens advertising to make more people who never eat Ben and Jerry’s taste their most popular products named Cookie Dough and Chocolate Fudge Brownie, because without first attempt, there is no customer loyalty. These marketing tools not only convenient consumers to choice and remember, but also expand the range of target market. In addition, Ben and Jerry’s has a strong brand name. It is a stable and successful company with high market share. According to west European deserts market research, Ben and Jerry’s has the largest share of the luxury ice cream market was 39.1% (IRI convenience sales, 2008). High market share help Ben and Jerry’s take the initiative. Ben and Jerry’s has been working on charity and environmental protection. This is the key difference above other brands. Ben and Jerry’s not only put much money into public every year, but also promise to produce eco-packaging. Their foundation awards about $1.8 million annually and charity events beyond count. Advertisement is the most effective way to inform and persuade the consumers and charity is the best advertisement, it has longer term efficacy than media advertisement. The employees are major wealth of the business. Ben and Jerry’s through different ways to encourage their staffs, such as high salaries, Ben Jerrys livable wage benchmark was $15.34/h in 2011 and far above the USA minimum wage was $7.25/hr. (BJ USA homepage, 2011) Besides, extra premiums, staff health programs and community garden all can improve the employees empower and motivate. Employee satisfaction is a factor of Ben and Jerry’s success as well. To sum up, business success not accidental and lucky, large parent company, good reputation, innovative products, powerful brand name, high social responsibility and employee satisfaction are the causes of Ben and Jerry’s success. But there are no excellent companies, Ben and Jerry’s is no exception. Firstly, as a profit making organization, Ben and Jerry’s puts more money into charity rather than media advertisement. Charity is good, but less advertisement investment against Ben and Jerry’s expanding corporate recognition. Secondly, Ben and Jerrys has some flavors that had taken off shelves quickly. Keeping fresh is fine, but every new product used large resources before they launch in the market. Too short life cycle of product will lead to resources waste. Thirdly, in Tesco, Ben and Jerry’s ice cream’s price is  £0.90/100ml, but most of other brands’ prices are  £0.20- £0.40/100ml. The high price will close the door on many consumers. Ben and Jerry’s has many opportunities of producing, such as it can develop more flavors and increase the life cycle of some products. They also can build a few flavors only belong to Ben and Jerry’s. Just like when consumers hear Big MAC, they associate McDonald’s. And different sizes and shapes of ice cream also can attract more consumers, such as super size ice cream tub or ice cream bar, because now Ben and Jerry’s only has two sizes of ice cream tub (500ml and 150ml). And healthier products are necessary, fat free or sugar free all the good choices. Ben and Jerry’s still do not have a list of gluten-free flavors, so they can fill this gap. The opportunities of market is that make their ice cream vending machine go into more Cafà ©s, schools, railway stations and cinemas. It is convenience for people who need to replenish energy and just greedy. At the same time, Ben and Jerry’s can expand new markets, such as Asia market and Africa market. Some professionals say that the scale of Chinese ice cream market has more than  £30 millions and expect the luxury ice cream share of 20%-30%. Haagen Dazs has entered the Chinese high-end ice cream market early, its success shows large market demand in developing countries. Ben and Jerry’s should catch this business opportunity. In addition, Ben and jerry’s can produce different products according to the different cultural. Fox example, the consumers can buy fried bread stick and meat congee in Chinese KFC. So Ben and Jerry’s can launch the ice cream moon cake to meet Chinese consumers’ tastes. Forthemore, Cooperation is also a good choice, and this cooperation can be different sectors, like cooperate with AMC Theatres, and the consumers only can buy Ben and Jerry’s ice cream at AMC Cinemas. And they also can cooperate with clothing brands and print their unique cow images on limited edition clothing. This is a good way of advertising as well. Of course, Ben and Jerry’s can cooperate with food companies, like Cadbury, to produce â€Å"Cadbury Jerry’s† chocolate ice cream. Powerful combination will be easier for win-win. Preventing accidents before they occur is necessary. Food is related to human health, so from raw materials to production, every stage exist risk. Such as, raw material pollution, unqualified food additives and unclean food processing. Every single detail can decide the quality of products. And with the price of cattle feeds is raising will lead to the price of milk up, so Ben and Jerry’s has to cost more on raw milk. Meanwhile, more and more people focus on health, the frozen foods will suffer winter. Obviously, Haagen Dazs is an arch rival and it has more market share around the world. At the same time, the new competitors can appear at any time. In conclusion, in view of Ben and Jerry’s ice cream long-term development, Ben and Jerry’s should match strengths to opportunities, convert weaknesses into strengths and convert threats into opportunities. And then it will get more successful in the future.

Feminine Roles in Shakespeares Macbeth :: GCSE English Literature Coursework

Macbeth's Feminine Roles    The feminine roles in William Shakespeare's Macbeth are only two, the witches being not human in many ways, and we shall consider only one in great detail in this essay - that of the all-important Lady Macbeth. The witches are considered briefly.    In "Memoranda: Remarks on the Character of Lady Macbeth," Sarah Siddons comments on how the feminine role of the leading lady is not a typical one as regards attitude:    [Macbeth] announces the King's approach; and she, insensible it should seem to all the perils which he has encountered in battle, and to all the happiness of his safe return to her, -- for not one kind word of greeting or congratulations does she offer, -- is so entirely swallowed up by the horrible design, which has probably been suggested to her by his letters, as to have forgotten both the one and the other. It is very remarkable that Macbeth is frequent in expressions of tenderness to his wife, while she never betrays one symptom of affection towards him, till, in the fiery furnace of affliction, her iron heart is melted down to softness. (56)    Fanny Kemble in "Lady Macbeth" finds that the main female role could have ended in madness due to the evil tendencies of the lady:    Lady Macbeth, even in her sleep, has no qualms of conscience; her remorse takes none of the tenderer forms akin to repentance, nor the weaker ones allied to fear, from the pursuit of which the tortured soul, seeking where to hide itself, not seldom escapes into the boundless wilderness of madness. A very able article, published some years ago in the National Review, on the character of Lady Macbeth, insists much upon an opinion that she died of remorse, as some palliation of her crimes, and mitigation of our detestation of them. That she died of wickedness would be, I think, a juster verdict. Remorse is consciousness of guilt . . . and that I think Lady Macbeth never had; though the unrecognized pressure of her great guilt killed her. (116-17)    Clark and Wright in their Introduction to The Complete Works of William Shakespeare contradict the impression that the female protagonist is all strength:    Lady Macbeth is of a finer and more delicate nature. Having fixed her eye upon the end - the attainment for her husband of Duncan's crown - she accepts the inevitable means; she nerves herself for the terrible night's work by artificial stimulants; yet she cannot strike the sleeping king who resembles her father.

Recrystallization and Melting Point Determination

Consider what happens when a solid material is placed in a solvent in which it has a low solubility. Not much! A small fraction of the solid will dissolve, but the rest will just sit there. (Actually, it doesn't just ‘sit there' since an equilibrium is in effect, with solid molecules going into solution, and an equivalent number of dissolved molecules reforming solid, but we see the same amount of undissolved material). How can we get the entire solid to dissolve? One way is to heat the solution — most materials are more soluble in hot solvent than in cold. Suppose we heat to the boiling temperature of the solvent (the highest temperature which is practical), and the entire solid goes into solution. If we now let the solution cool, what will happen? Obviously, at some temperature, the concentration of solute will exceed its solubility, and the solid will start to come back out of solution – it will crystallize. By the time we return to the initial temperature, nearly all of the original material has formed crystals, which can be removed from the solvent by filtration. Now, suppose that the original solid contained small amounts of impurities. These would go into solution as well, but since the impurities are present only in small amounts, they remain soluble when the temperature is lowered again. Thus, the crystals, which come out of solution, are more pure than the original sample. This is the essence of purification by recrystallization (Fig. 1). [pic] Figure 1: An impure solid in: (A) cold solvent in which it has low solubility, (B) solvent that has been warmed up to dissolve all of the solid, and (C) solvent that has cooled down to the original temperature. The crystallized solid is now pure, while the impurities remain in solution. Recrystallization Recrystallization is the preferred method for purification of organic solids. The technique can be used for large or small quantities of materials, and is usually very effective and efficient. The most important aspect of the recrystallization technique is the selection of the solvent. A large number of solvents are commonly used for recrystallization of organic compounds. Among these are water, ethanol, ethyl ether, and hexane to name just a few. A solvent, which works beautifully for one recrystallization, may be totally unsuitable for purification of a different compound – the choice for recrystallization solvent is made on a case-by-case basis. This is because of the variation of solubility of different organic compounds in these solvents. We can identify a set of characteristics which are desirable for a recrystallization solvent: 1. The substance to be purified must have a high solubility in the solvent at its boiling point, and a significantly diminished solubility at lower temperatures (limited only by the freezing temperature of the solvent). Obviously, the first part is necessary so that you can get the material into solution, and the second part is required so that the purified compound will come back out of solution. 2. The solvent should dissolve the impurities at all temperatures. Actually, its OK if the impurity dissolves readily or doesn't dissolve at all, as we'll see. The important point here is that purification will be accomplished only if the impurities remain in solution as the mixture is cooled. This isn't too hard to accomplish if the amount of impurity is small. Obviously, it's a bit more difficult if a large amount of an impurity is present, but if the solubility characteristics of the desired substance are sufficiently different from the impurity, as is often the case, a suitable solvent can usually be found. 3. The solvent must not react with the substance to be purified. It's hard to get your compound to come back out of solution when it is consumed by a reaction. 4. A reasonably volatile solvent is preferred. This consideration is dictated by the need to ultimately remove traces of solvent from the crystals, and this is most easily accomplished by evaporation, either at room temperature or in an oven. Even with an oven to aid in the drying, only moderate temperatures can be used, since you should stay below the melting temperature of the solid, and definitely below temperatures where the material will decompose. Generally speaking, solvents with boiling temperatures below ~150 °C are OK. 5. Ideally, the solvent should be inexpensive, non-toxic, and non-flammable. These are not absolutely required, but desirable characteristics, which can help to determine the choice of a solvent. Obviously, water is an ideal choice based on these criteria, and is the preferred solvent if it satisfies conditions 1-4. How does one go about choosing the proper solvent? If you are dealing with a known compound, it makes sense to use solvents that have been used before. You can go to the CRC Handbook of Chemistry and Physics (printed or online), and frequently a solvent suitable for recrystallization will be indicated. This may show up in two places: First, in the column headed â€Å"color, crystalline form† is often listed the solvent used to obtain the crystals in question. Otherwise, you can move to the columns near the right-hand side of the page, which deal with solubility. The CRC has changed its presentation of solubility data over the years. For this purpose, the older editions (before 1980) are significantly better than the recent ones. Whereas the new editions simply list solvents in which the compound is soluble, the older ones provide more information, which can be useful in selecting a crystallization solvent. Qualitative indicators for solubility in various solvents range from i (insoluble), d (slightly), s (soluble), to v (very). Especially useful is the fact that some solvents are given two listings, one for hot solvent, the other for cold. What if you are working with a brand-new compound, which is often the case? Here, the only thing to do is try different solvents. The choice of solvents is often more art than science – everybody has their personal favorites based on their own experience, but those mentioned above are typical solvents to try. A small amount of the solid is placed in a test-tube and a few drops of cold solvent are added. If the solid dissolves, you can forget this solvent – you need low solubility at low temperature. If the solid remains, so far, so good, but this is only the beginning. Now the sample is warmed to the boiling point. If the solid dissolves, things look good. The next test is to let this solution cool, and to see if nice crystals actually form. If they do, you're in luck. Further tests with this solvent on larger samples of material can then determine whether the desired degree if purification is achieved, and if the loss of material is acceptable. Sometimes, though, no crystals form. This may be a problem with the rate of crystal nucleation – that event where the first few molecules get together to form the growing crystal. A trick which often works in this case is to take a glass rod and rub vigorously the wall of the test-tube just below the solvent surface. Often, this will stimulate crystal formation, presumably because some of the microscopic scratches serve as nucleation sites. Alternatively, the solution can be ‘seeded' with a few tiny crystals of the substance (if these are available), and then to allow the solution to stand undisturbed until crystal formation is complete. If no crystals form, you must consider the possibility that the substance is too soluble in this solvent, and the fact that it did not dissolve at first may simply be because it dissolves very slowly. If this is the case, it's back to the drawing board with a new solvent. A not-uncommon result is for the solute to separate from solution as an oil which will not crystallize. This annoying situation arises particularly for low-melting solids and frequently results when the solution becomes saturated at a temperature higher than the melting point of the solute. A remedy which is often effective is to ensure that separation does not occur until the solution has cooled below this melting temperature, either by using more solvent or by switching to a different solvent. Once this is settled, scratching and/or seeding are often helpful for obtaining crystalline product. Quite often, a single solvent which gives suitable results cannot be identified. In such cases, the use of mixed solvents (solvent pair) is often successful. Two solvents are chosen, one which dissolves the substance readily, and another in which the solute is only sparingly soluble. Note that the two solvents must be completely miscible. The usual procedure is to dissolve the crude solid in the better solvent at its boiling point, and to add the weaker solvent dropwise until a faint cloudiness persists, indicating that the solute is starting to come out of solution. A few drops more of the better solvent are then added to put the solute back into solution, and the mixture is allowed to cool to effect crystallization. Typical solvent pairs are water and ethanol, or hexane and benzene, where the ‘weaker' solvent is listed first. These mixed solvent systems are interesting — it seems that the solubility characteristics of the better solvent dominate at higher temperatures, while the mixture behaves more like the weaker solvent at lower temperatures. Once the crystallization solvent is chosen, consideration can be given to other features of the crystallization process. The idea is to maximize the recovery of purified compound. Enough solvent must be used to keep the impurities in solution, but if an excessive amount of solvent is used, a large part of the desired compound will remain in solution, and the recovery will be low. For this reason, the minimum amount of hot solvent which will dissolve the desired compound should be used. It is possible to further improve the recovery of material by harvesting a ‘second crop' of crystals. After the purified crystals have been separated by filtration, the filtrate (called the ‘mother liquor') is concentrated by evaporation of ~1/2 – 2/3 of the solvent. On cooling, more of the compound will crystallize, and this can be isolated by filtration. The purity of these crystals is generally not as good as the original crop, since the concentration of the contaminants in the mother liquor is always increasing. The proper apparatus for recrystallization is the Erlenmeyer flask. A beaker is not appropriate. The shape of the Erlenmeyer flask allows swirling of the mixture without sloshing, and the conical walls tend to condense and return refluxing solvent. The flask should not be overfilled – about 60% of the listed capacity is the maximum, and so the flask volume should be chosen accordingly. Decolorizing a Solution and Hot Filtration Special problems are posed by insoluble impurities and highly colored, resinous contaminants. The best way to remove insoluble material is to filter the hot mixture, while the desired material is dissolved. Insoluble debris will be trapped on the filter paper. The colored, resinous impurities are usually large, relatively polar organic molecules which have a strong tendency to be adsorbed on surfaces. Crystals grown from solutions containing such resins are often discolored by surface contamination by these materials, and it is therefore desirable to also remove them from the solution before recrystallization. They can be taken care of by addition of a small amount of powdered, activated charcoal (Norit ® or Darco ®, also decolorizing carbon) to the hot solution before filtering. Decolorizing carbon has a huge surface area, and readily absorbs the colored impurities. The hot filtration then removes the charcoal; the filtrate, now free of this contamination, is allowed to cool and deposit crystals. The decolorizing/hot filtration procedure requires some care. First, the addition of the powdered charcoal to hot solvent can cause a vigorous foaming which may result in loss of some of the solution. This can be avoided if the hot solution is allowed to cool for 15-20 seconds, and the charcoal is added cautiously. Only a small amount of charcoal is required — add too much and significant amounts of the desired compound will also be absorbed, and low recovery will result. After addition of the charcoal, the mixture should be heated to a gentle boil for a few minutes, to ensure that any compound which might have precipitated during cooling is brought back into solution. Filtration of the hot mixture must be done rapidly to avoid crystallization of material on the filter paper or in the funnel. The setup depicted in Figure 2 shows how the filter can be kept hot during filtration. The speed of filtration is enhanced by the use of a ‘fluted' filter paper and a stemless funnel. ‘Fluting' a filter paper is organic chemistry origami and the process is best demonstrated in person. A fluted paper uses the entire surface area of the filter paper, and therefore filters more rapidly than the conventional conical fold. The stem of a funnel is susceptible to clogging by formation of crystals, so a stemless funnel is used. To minimize crystallization in the filter paper it is common to place a small amount of solvent in the receiving flask, and to heat this to boiling during the filtration. The hot vapors help to keep the filter warm. In addition, it is prudent to use about 10% more than the minimum amount of solvent, to account for evaporation during the heating, and to allow for the small amount of cooling which will occur. Finally, the mixture should be poured onto the filter in small portions which will filter within about 30 s, so that excessive cooling does not occur. The [pic] remainder of the mixture is kept heated until it can be poured on the filter. When all of the solvent has been filtered, it is a good idea to rinse the flask and filter with a small portion of fresh, hot solvent (~5 – 10% of the volume already used). This will help to dissolve and pass through the filter any material which has crystallized. The filtrate should be collected in an appropriately sized Erlenmeyer flask. Some crystals may have formed in the flask by the end of the filtration, but these are often very small and not well formed. They should be dissolved by warming the filtrate. The best crystals are obtained by slow cooling without agitation of the solution. Therefore, the filtrate should be placed in a spot where it can remain undisturbed as it cools. The mouth of the flask may be loosely stoppered, but this is normally not necessary. Crystal growth is normally well along by the time the mixture reaches room temperature. Further cooling in an ice-water bath will cause additional crystallization. Crystals come in a variety of shapes and sizes: long needles, blocky prisms, and flat plates are common. Slow crystal growth not only gives the most pleasing display; the product is generally purer. Too-rapid crystallization generally leads to smaller, more poorly formed (and less pure) crystals. pic] Vacuum Filtration Once crystal formation is complete, the product is isolated by vacuum filtration. This technique permits fast and efficient removal of the mother liquor. A special flat-bottomed funnel (a Buchner funnel) is used in conjunction with a heavy-walled Erlenmeyer flask with a sidearm called a filtering flask. The apparatus is illustrated below (Figure 3). A circle of filter paper, small enough to lie completely flat on the perforated base of the Buchner funnel, but large enough to cover all of the holes, is placed in the funnel, and moistened with a small amount of solvent to hold it in place. With the vacuum on, the cold crystallization mixture is poured as rapidly as possible onto the filter paper. It helps to swirl the flask a few times to loosen the crystals, and with a little bit of skill the entire mixture can be deposited on the filter, with only a few stray crystals adhering to the walls of the flask. The mother liquors are rapidly drawn into the filter flask by suction, and the crystals are squeezed dry of solvent by pressing with a clean cork while drawing air through them. Now, this procedure does not remove all of the mother liquor. Invariably, there is a film of solvent coating the surface of the crystals. Since the mother liquor contains impurities, this must be washed away with fresh solvent. The crystals are washed as follows: the suction is stopped and enough fresh, cold (why? ) solvent is added to just cover the crystals in the funnel (this solvent can be used to rinse the last few crystals out of the crystallization flask). The crystals should be stirred gently with a glass rod or a spatula so that all come in contact with the wash liquid, then the vacuum is restarted and the crystals sucked and pressed dry as before. In some cases, it may be necessary to repeat the wash a 2nd time. Air is drawn through the crystals until they are as dry as possible, at which time they are spread on a watch glass for further drying in the air or in an oven. The steps in recrystallization can be summarized: 1. Dissolve the crude material in a minimum amount of hot solvent. 2. Treat with decolorizing charcoal. 3. Filter hot solution to remove charcoal and other insoluble impurities. 4. Cool to effect crystallization 5. Filter crystals, wash to remove adhering mother liquor. 6. Dry crystals to remove last traces of solvent. Melting Point Determination Once we have purified a solid, how do we establish that the product is, in fact, pure? Undoubtedly, the simplest criterion for purity is determination of the melting point, or more accurately, the melting range. Strictly speaking, the melting point is defined as the single temperature at which the vapor pressure of the liquid phase of a compound is equal to the vapor pressure of the solid phase, and so the liquid and solid are in equilibrium. These values are actually rather difficult to measure. Much simpler is the determination of the capillary melting range, which, as the name implies, is the temperature interval over which the compound is found to melt. Since, during the melting process, the system is not at equilibrium, this is not identical to the true melting point, but the values are normally very similar. In fact, most of the ‘melting points' in the literature are actually capillary melting point ranges. An important distinction is that the latter is always presented as a range of two temperature readings, from the temperature where melting is first observable to that where melting is complete. For pure compounds, complete melting normally occurs over a very narrow range, often

Key Factors to a Supportive Environment

Key factors that support speech, language and communication environment: 1. Your room/setting layout – what does your physical environment look like? The noise level – are there quieter and noisier areas, planned times or activities. Evidence: There are two main rooms that are in use during morning and afternoon sessions, the classroom and larger hall area. The classroom has a book corner with a child's size couch and soft cushions on the floor. This area is ideally for quiet time and reading. The rest of the classroom and large hall allows for noisy and more social activities.Throughout the day there are planned adult lead activities, circle times, outdoor play, snack bar and lunch club. Which work on a rota based system. Quality of light – are play areas well lit for children to see ; communicate well with each other, see mouth movements, resources ; staff. Evidence: The classroom and main hall both allow for a substantial amount of natural light through large windows and also have more then one artificial light in either room. Space to move, expressively, with whole bodies, with and without speedEvidence: The main hall area is a large open space with a substantial amount of room for children to move freely and expressively. This room is used for more active activities and also for when outdoor play is restricted due to poor weather conditions. The children will use this area to build train tracks, stack blocks, act out role plays and imaginary games, as well as group games such as duck duck goose and ring a ring a roses. The outdoor area is also set up in a way that allows for all types of movement. There is an large space for bikes and smalls cars, which is also used for obstacle courses and tents.This is divided from the rest of the playground by log stumps that the children can also walk across. Resources and toys – is there a varied selection available for both indoor ; outdoor play. Evidence: Within the classroom and hall the re is a large variety of resources and toys to cater for all the children. For example; a home corner, roll play area, mark making area, play dough and sand/water trays, block building, music corner, small world toys, ICT area book corner. The outside area has a large storage cupboard which allows us to alternate what goes outside to create interest and excitement.There is an outside book corner with bean bags and blankets, large wooden blocks for building, play house with kitchen and work bench, prams, bikes and large cars, balls, rackets, a table and chairs to encourage mark making, blackboard with chalk and a variety of playing apparatus's. 2. Staff – Involvement/roles – how does everyone interact with children to promote communication. Evidence: Most children attending the pre-school will have an all about me book, which their key person and any other staff member are allowed assess. It contains information and pictures on the child's life including family, pets, f riends, likes and dislikes.The children also receive a settling in performer after two weeks of them attending the setting. Which goes over how they are doing and is sent home to their parents to read and comment on, then sent back in. This is kept in the child's learning journey. The children are also given a chance to have their say on what they would like to do at pre-school, with the children's planing board. Where any ideas that are given from the children are written on and then added to the planing in future sessions. We have a classroom rules board, illustrating the main rules of the setting. Which is positioned down low at the children's eye level.There is also a ‘how are you feeling today' poster with photos and illustrations of different facial expressions, again at the children's eye level. We also try to operate with a positive language approach when reminding children of rules, for example saying ‘walking feet and kind hands' instead of ‘no running an d don't hit each other. ‘ Staff responsibilities – does a key person system operate to support your children? Evidence: A key person system is operational within the setting, each key person has on average 11 children under their care and are also responsible for the overall care of every child.Observations are made on every child and logged in their learning journeys, which are kept in a locked cupboard. Planning daily routines – are there times of the day to support communication eg. greetings and goodbyes, toilet asking times? Small/large group and individual activities? Evidence: Our setting works on an rota based system, in which there are set times for snack bar, lunch club, tidy up times, free play, adult led activities, nappy changes, circle times and outdoor play. This helps the children and staff to get into a routine.Who ever is responsible for nappy changes that day will also be reminding children to go to the toilet, both are logged in a daily folder . The children are welcomed in the mornings/afternoons and self register with name cards. At the end of both morning and afternoon sessions the story of the week is read and the children can give thanks in prayer. The children are then dismissed when their allocated parent/carer arrives. Training opportunities? Child Development, Safeguarding, Impairment, Activity intervention & awareness.Evidence: All staff are given the opportunity to attend relevant training that is beneficial for the setting and themselves. I myself have already attended four training courses since joining in September 2012. Certificates given at the completion of the training days and are displayed on the wall inside the classrooms setting. We also have a weekly policy quiz, with a different quiz selected each week for staff to read through and then be tested on. 4. Parent & carer involvement – Evidence: The Pre-school welcomes parent and carer involvement within and outside of the setting, especially du ring the festive period.We often have parent helpers for the day that provide us with an extra pare of hands. The pre-school also recently held a fundraising event at the local community center, where we saw an overabundance of support from parents/carers. How does the setting engage with parents to share activity ideas, rhymes, resources, books, event dates, news, parent's language needs, knowledge ; expertise Evidence: Each week parents and staff receive the ‘weekly update sheet' via email, which provides information on the up and coming week.This information consists of the theme of the week, number, letter sound and shape, story focus, our star of the week (child), important dates, resources needed for any activities planned, how they can support their child and a photo gallery of what their children have been up to in the previous week. 5. Language itself – Identify the types of language/methods of communication used in the setting; facial, body, creative, expressi ve and behavioral. Evidence: At the entrance to the classroom there is a mood board on the wall with the phase ‘how do you feel today'.The board displays a variety of facial expressions and words for the children to relate to and caters especially to children still developing their speech or children that have English as an additional language. We also have a mark making area with creative resources for the children to express themselves. Throughout the setting there are posters and images reminding the children of the pre-school rules, for example use kind hands, put hands up during circle time, line up in a straight line and two children at the I. T station. Additional Language-Is there support within the setting for children with additional languages. Evidence: All resources accessible to the children are labelled with the relevant wording of the contents and a photo or picture to support visual aid. Around the main classroom we have numerals 1-10 in additional languages an d greetings/farewells in multiple languages. When the children join the setting their parents/careers are asked if they speak any additional languages or if English isn't their first spoken language. During circle times, we will often greet each child in an additional language.

How marketing research determines the mamanement decision problem.

How marketing research determines the mamanement decision problem. The management decision is always connected with the problem or opportunity the company comes across at some point its business activity. It may be the decision about the introduction of the new product or adoption of the most effecting pricing or campaign.To help the client undertake the decision which action to follow, the market researcher starts with the research process, which first step is the problem definition. The researcher must understand what the needs and objectives of his client are and know how to translate the management problem into the market research problem. Market research problem unlike the managerial problem does not focus on action but rather concerns what kind of information is needed to come to the solution or make the decision. To be able fully understand what kind of information is needed the researcher often is required to consult with management (problem audit), industry experts, investigate the secondary data or undertake some qualitative research.Data analysisThe understanding of the problem comes also from the deep understanding the environmental context of the problem that means the background of the problem. The factors here are past information and forecast, Resources and Constrains, Objectives, Buyer Behavior, Legal environment, Economic Environment, and Marketing and Technological skills. The company exists with the complex environment all of its factors have an impact on it.The second step in the research process is the design formulation. It is the set of procedures and instructions, the blueprint of the research. It answers the following questions:a) What kind information is needed? (regarding a problem or population)b) How obtain and how use the secondary data?d) Whether the qualitative, descriptive or causal research is needed?e) How collect the qualitative data and what kind of measurement and scaling procedures use (how to...

Bonobos as Model for Human Behavior essays

Bonobos as Model for Human Behavior essays The bonobo, or pan paniscus is a very unique, and relatively unknown member of the primate family. They share many of the same physical features and genetic makeup as their relative the chimpanzee, and are so similar that they are commonly known as pygmy chimpanzees. Bonobos however, vary in quite a number of ways from their relative the chimpanzee and these differences will be discussed in detail through this essay as well as how similar our behavior is in many respects as these exceptional creatures. Bonobos are a relatively newfound species with the official discovery coming in 1928 by American anatomist Harold Coolidge. He was studying the skull of what was believed to be a juvenile chimpanzee, however slight but distinct differences in the structure led him to believe that the skull was something other than a chimpanzee, it was a bonobo. This discovery eventually led anatomists, anthropologists, and other researchers to the left bank of the Congo River where the bonobos are native (figure1). The surrounding area is populated by chimpanzees and gorillas, so for the most part bonobos were largely lost in the fray, or mistaken for chimpanzees. It was not until the distinction was made between the two that researchers began to find out the difference between these two intriguing creatures. As stated earlier bonobos are native to the left bank of the Congo River, which is an area that is almost exclusively habituated by these apes, other primates such as monkeys reside there however. The areas east, west, and north are all home to different types of chimpanzees as well as gorillas. The surrounding river provides a sort of moat that keeps the area exclusive to the bonobos. This area is approximately 1000 km east to west and 750 km north to south, which provides almost a little kingdom of bonobos. Within this habitat the bonobos predominantly consume fruits as the major part of their diet. Bonobos also eat foods such as pith, leave...

Vocab Practice 1

Vocab Practice 1 Trying to prepare yourself for your next reading test? Whether youre prepping for the Verbal section of the GRE, the Critical Reading section of the SAT, the Reading section of the ACT or just your typical reading test in school, chances are good youll have to understand a vocabulary word or two in context. Sure, youll also find standard questions about finding the main idea, distinguishing the authors purpose and making inferences, but those can be tricky whereas vocabulary words in context are typically the easier ones to manage if you complete some vocab practice. So, lets get on with it, shall we! Read the passage below and answer the corresponding questions. Teachers, feel free to print and use the PDFs below for easy sub plans or vocab practice as you see fit. Vocab Practice 1 WorksheetVocab Practice 1 Answer Key Vocab Practice 1 Adapted from, The Boarded Window by Ambrose Bierce. In 1830, only a few miles away from what is now the great city of Cincinnati, lay an immense and almost unbroken forest. The whole region was sparsely settled by people of the frontierrestless souls who no sooner had hewn barely habitable homes out of the wilderness and attained to that degree of prosperity which today we would call indigence, than, impelled by some mysterious impulse of their nature, they abandoned all and pushed farther westward, to encounter new perils and privations in the effort to regain the meager comforts which they had voluntarily renounced. Many of them had already forsaken that region for the remoter settlements, but among those remaining was one who had been of those first arriving. He lived alone in a house of logs surrounded on all sides by the great forest, of whose gloom and silence he seemed a part, for no one had ever known him to smile nor speak a needless word. His simple wants were supplied by the sale or barter of skins of wild animals in the ri ver town, for not a thing did he grow upon the land which, if needful, he might have claimed by right of undisturbed possession. There were evidences of improvementa few acres of ground immediately about the house had once been cleared of its trees, the decayed stumps of which were half concealed by the new growth that had been suffered to repair the ravage wrought by the ax. Apparently the mans zeal for agriculture had burned with a failing flame, expiring in penitential ashes. The little log house, with its chimney of sticks, its roof of warping clapboards supported and weighted with traversing poles and its chinking of clay, had a single door and, directly opposite, a window. The latter, however, was boarded upnobody could remember a time when it was not. And none knew why it was so closed; certainly not because of the occupants dislike of light and air, for on those rare occasions when a hunter had passed that lonely spot the recluse had commonly been seen sunning himself on his doorstep if heaven had provided sunshine for his need. I fancy there are few persons living today who ever knew the secret of that window, but I am one, as you shall see. The mans name was said to be Murlock. He was apparently seventy years old, actually about fifty. Something besides years had had a hand in his aging. His hair and long, full beard were white, his gray, lusterless eyes sunken, his face singularly seamed with wrinkles which appeared to belong to two intersecting systems. In figure he was tall and spare, with a stoop of the shouldersa burden bearer. I never saw him; these particulars I learned from my grandfather, from whom also I got the mans story when I was a lad. He had known him when living near by in that early day. One day Murlock was found in his cabin, dead. It was not a time and place for coroners and newspapers, and I suppose it was agreed that he had died from natural causes or I should have been told, and should remember. I know only that with what was probably a sense of the fitness of things the body was buried near the cabin, alongside the grave of his wife, who had preceded him by so many years that local tradition had retained hardly a hint of her existence. Question 1 As it is used in paragraph one, the word indigence most nearly means†¦A. sustenanceB. wealthC. influenceD. poverty Answer and Explanation Question 2 As it is used near the end of paragraph one, the word suffered most nearly means†¦A. enduredB. allowedC. instructedD. agonized Answer and Explanation Question 3 As it is used in paragraph two, the word traversing most nearly means†¦A. travelingB. crossingC. shiftingD. holding Answer and Explanation Question 4 As it is used in paragraph three, the word lusterless most nearly means†¦A. dullB. brokenC. barrenD. alarming Answer and Explanation Question 5 As it is used in paragraph five, the word retained most nearly means†¦A. romanticizedB. commendedC. preservedD. illustrated Answer and Explanation

Maternal stress as a potential risk factor for having an offspring Research Proposal

Maternal stress as a potential risk factor for having an offspring with a ventricular septal defect - Research Proposal Example ency, misalignment or failure of fusion of the components of the interventricular septum, viz., endocardial cushions, aorticopulmonary septum and the muscular part of the septum, is the primary cause of the ventricular septal defects (Shinebourne et al, 2006). A hole or complete absence of the septum allows the blood to mix in the ventricles, which is supplied to the lungs as well as the rest of the body giving rise to symptoms like ‘blue babies’. Soto et al (1980) gave an objective classification of the ventricular septal defects (VSD). On the basis of angiograms of 220 children with VSD, they observed that the defects in the septum could present with the following morphologies - perimembranous defects; muscular defects and subarterial infundibular defects. Perimembranous defects as well as the muscular defects were further divided into three sub-groups each. A stressful life of the mother has been studied as a risk factor for a number of congenital malformation in the offspring, e.g. orofacial cleft (Montenegro et al, 1995), neural tube defects (Carmichael and Shaw, 2000) and conotruncal heart defects (Suarez, 2003). Carmichael et al (2007) have conducted a comprehensive population based case-control study involving 1355 mothers and calculated a ‘stressful life event score’ based on exposure to 18 possible stress-events and its association with congenital birth defects. Their results showed that a 3-point increase in the stress score increases the odds-ratio of a birth defect to 1.45 ( C.I. 1.03-2.06) and the risk is further aggravated to O.R. of 2.35 (CI = 1.47 – 3.77), if the mother is not taking vitamin (folic acid) supplement during early pregnancy. Hansen et al (2000), in a rare 12 year prospective study with a 16 months retrospective component, reported an increased incidence of cranial-neural-crest malformatio ns as well as other congenital malformations in children born to mothers exposed to severe life events like death, hospitalization for

The snows of kilimanjaro Research Paper Example | Topics and Well Written Essays - 1750 words

The snows of kilimanjaro - Research Paper Example . Harry is the protagonist of the story. Hemingway’s depiction of the character Harry is amazing. The way in which he ruminates about his past life experience and the sudden retrieval to the present to quarrel with his wife is skillfully drawn. His conscious effort to correlate himself with the character Harry is obvious. He made his character realistic with his own ‘professional resume to give him a journalistic background’. The wife of Harry, Helen, resembles Hemingway’s second wife. Harry never calls his wife by name. Helen is more advanced character made by the writer. Harry sees Helen as wealth itself. It exposes the outlook of Harry which causes his decay. The protagonist of the story is a writer, who is on a safari in Africa with his wife Helen. Harry is scratched on the leg by a thorn and the infection slowly becomes gangrene. Helen is trying to make him comfortable and gives him hope to live. But he seems to be a person waiting for death and that d istresses his wife. Helen’s concern and anxiety never vibrates the mind of the protagonist. He is addicted to disappointment and self pity which leads him to languor and laziness and also exhibits distasteful attitude to his wife. The rest of the story is his rumination on his wide ranging and scattered life experience. He feels the disappointment of reaching nowhere as a writer because he spent most of the time with wealthy women by marrying them. The whole story is a stream of consciousness of the protagonist that he jumps to the past and present. Hemingway uses flash backs to tell the story. In the first flash back he remembers about World War 1 and the diverse scenes. His first memories are of journeying through Europe during the war, hiding, hunting and his skiing excursions. He also listens to the bombing. When the flashback finishes he comes back and engage in verbal battle with Helen. Harry then falls asleep and wakes up at evening to see Helen returning after shootin g an animal for them. Then he slips to think about her as a wife. He recognizes with pain the time he spend with a series of women neglecting his true talent as a writer. Helen is a rich widow who had already married and had two children among them one had died in an air crash. Because of her admiration in his writings and they share some common interests, she got married to Harry. After drinking together, he again slips into sleep. In between he reflects on the process by which he has got gangrene. He was trying to take the photograph of some water buck and had a scratch on his knee. He did not apply iodine and it became gangrenous. In the second memory he remembers his life in New York with prostitutes and his journey to Paris after a quarrel with an American soldier for a prostitute to have the new wife Helen. Then we see they both take dinner and again Harry ruminating on his grandfather’s house, his fishing in the Black forest, his relations with the poor neighbors and t hus he continues in his ponderings. Along with the reflections in his mind Harry slowly feels the approach of death when he hears the hyena crying. Helen takes his cot to the tent and he feels death close to his heart. Harry dreams of a rescue in the form of a man called Compton. He was taken by that man to the top of Kilimanjaro where he saw the white snow, a new experience where there is only

UN Resolution on Israel (assigned Country is Nigeria) 1.15 single Essay

UN Resolution on Israel (assigned Country is Nigeria) 1.15 single spacings - Essay Example ons Human Rights Council of 24 January 2008 and of the United Nations  Office for the Coordination of Humanitarian Affairs of 25 May 2010, as well as the statements conveyed by the United Nations Special Rapporteurs present in the Gaza Strip, Fully alarmed that the continuation of the present crisis in the relations between the State of Israel and the Palestinian authorities in the Gaza Strip may undermine the peace process and lead to significant challenges to the regional stability, 1. Calls upon the two Parties concerned to exert all efforts necessary to resolve their differences and to make full use of the instruments of pacific settlement of disputes provided for in Chapter VI of the Charter of the United Nations. Such a settlement shall be conducted under the procedural rules the two Parties find the most beneficial to their common interests, and shall be supervised by the special Commission of the Security Council of the United Nations; 2. Condemns the unjustifiable acts of violence committed by the armed forces of the State of Israel and the paramilitary formations of the Palestinian authorities in the Gaza Strip against the civilians residing both in Israel and Palestine and calls for the objective arraignment of all the persons involved in them; (a) Avoid interfering with independent attempts of international non-governmental organizations to provide humanitarian assistance to the civilian population of the Gaza Strip, invite the States concerned to provide security assistance to the participants in such efforts; 4. Recalls an obligation on both Parties to respect the previous Resolutions of the Security Council with regard to maintenance of the peace and stability in the Middle East and appeals to all Parties concerned to exercise the maximum restraint when faced with mutual disagreements; 5. Welcomes the efforts of the Government of the United Kingdom of Great Britain and Northern Ireland to enable the relaxation of the blockade of the Gaza

Efficient Market Hypothesis Essay Example | Topics and Well Written Essays - 2500 words

Efficient Market Hypothesis - Essay Example Importance of efficient market hypothesis can be identified from empirical implications of it in many pieces of research and studies by empirical researchers. Literature on efficient market hypothesis before LeRoy (1973) and Lucas (1978) was evolved around the random walk hypothesis and magnitude model. These are statistical description of price changes that can be Lo and McKinley (1988) forecasted and initially taken to be implication efficient market hypothesis. The first test of random walk hypothesis was developed by Jones and Cowles (1973), and they compared frequency sequence and reversal in historical return of stocks. They identified same sign of former pairs of consecutive return and the opposite sign of latter pair of consecutive return. Osborne (1959), Fama (1963; 1965), Cootner (1962; 1964), Fama and Blume (1966) conducted tests of random walk hypothesis and supported previous studies of random walk hypothesis using historical stock return. Lo and McKinley (1988) reported that variance of two week stock return is double the variance of one week stock return. They conducted this test on US indexes from 1962 to 1985. French and Roll (1985) identified from their study that variance of stock return over weekends and holidays are much lower than variance of week days, especially first three weekdays of a week. Poterba and Summers (1988) and Fama and French (1988) found out negative correlation in US stocks indexes return from stock return data of 1962 to 1986 actually occurs.... In the process they use different forecasting techniques as well as some valuation methods. The combination of the techniques helps them in their decisions regarding investments. However, the hypothesis states that the techniques are not effective and no one has the capability to predict the outperformance of the market. If the investors enjoy any advantage, it is supposed not to exceed the incurred cost of transaction and research (Timmermann, & Granger, 2003, p.5). Literature review The origin of efficient market hypothesis can be traced back in the studies of two individuals in 1950s. One is Paul A. Samuelson and the other one is Eugene F. Fama. They identified the notion of market efficiency from two different research agendas. Samuelsson’s contribution in the invention of EMH was great, and the researcher summarized that in efficient market, changes in asset (stocks, bonds and other traded instruments) price can be forecasted if these are properly anticipated. This means price should fully incorporate all the information and expectation of all the market participants. In contrast to Samuelsson, Fama concentrated on statistical measures of stock price and resolving the debate regarding technical analysis and fundamental analysis of stock price. This researcher summarized that current price stocks fully reflect all information available to market participants. These two empirical research studies on this critical area of finance have helped many researchers thereafter to develop several econometric single or multifactor linear asset pricing models (Seweel, 2011, p.4). Random walk hypothesis Importance of efficient market hypothesis can be identified from empirical implications of it in many pieces of research and studies by empirical researchers.

Report based on group discussion Essay Example | Topics and Well Written Essays - 1000 words

Report based on group discussion - Essay Example BASF has an employee base of 112,000 employees who have helped the company post a strong revenue growth; in 2013 the company’s turnover was â‚ ¬74.0 billion and a profit of â‚ ¬7.2 billion (BASF). BASF like other companies in the chemical industry represent an important sector in every economy, in our case Germany. At the same time, the industry represents one of the greatest environmental costs and is a clear threat if no mitigating factors are enforced. The chemical industry is also interlinked with other sectors in the economy considering that only about 13 percent of the total production leaves the plant as finished products (Esty & Simmons, 2011.p.15). In regard to the environment, chemical production utilizes the environment to source for materials with much greater intensity than any other sector. At the same time, these companies use the environment as a medium for production, storage, transport, and disposal of resulting products. Almost every stage of the production process in chemical companies represents a threat to the environment. However, this should not be the case as there are ways and means to curtail these threats without affecting the company’s prof itability. In studying BASF, we examine ways through which the company can sustainably fashion its production process and products to achieve eco-efficiency. Eco-efficiency in this case not only represents green processing but a means to improve the company’s financial standing. In setting up a win-win strategy, BASF will have to address the major processes especially those with the highest impact on the environment. In this section, we look at the foremost changes that would help achieve eco-efficiency with greater emphasis on the manufacturing processes. The first step is to research and put up alternate means of supplying energy to the manufacturing process. At present, there are several ways through which energy for manufacturing

Efficient Market Hypothesis Essay Example | Topics and Well Written Essays - 2500 words

Efficient Market Hypothesis - Essay Example Importance of efficient market hypothesis can be identified from empirical implications of it in many pieces of research and studies by empirical researchers. Literature on efficient market hypothesis before LeRoy (1973) and Lucas (1978) was evolved around the random walk hypothesis and magnitude model. These are statistical description of price changes that can be Lo and McKinley (1988) forecasted and initially taken to be implication efficient market hypothesis. The first test of random walk hypothesis was developed by Jones and Cowles (1973), and they compared frequency sequence and reversal in historical return of stocks. They identified same sign of former pairs of consecutive return and the opposite sign of latter pair of consecutive return. Osborne (1959), Fama (1963; 1965), Cootner (1962; 1964), Fama and Blume (1966) conducted tests of random walk hypothesis and supported previous studies of random walk hypothesis using historical stock return. Lo and McKinley (1988) reported that variance of two week stock return is double the variance of one week stock return. They conducted this test on US indexes from 1962 to 1985. French and Roll (1985) identified from their study that variance of stock return over weekends and holidays are much lower than variance of week days, especially first three weekdays of a week. Poterba and Summers (1988) and Fama and French (1988) found out negative correlation in US stocks indexes return from stock return data of 1962 to 1986 actually occurs.... In the process they use different forecasting techniques as well as some valuation methods. The combination of the techniques helps them in their decisions regarding investments. However, the hypothesis states that the techniques are not effective and no one has the capability to predict the outperformance of the market. If the investors enjoy any advantage, it is supposed not to exceed the incurred cost of transaction and research (Timmermann, & Granger, 2003, p.5). Literature review The origin of efficient market hypothesis can be traced back in the studies of two individuals in 1950s. One is Paul A. Samuelson and the other one is Eugene F. Fama. They identified the notion of market efficiency from two different research agendas. Samuelsson’s contribution in the invention of EMH was great, and the researcher summarized that in efficient market, changes in asset (stocks, bonds and other traded instruments) price can be forecasted if these are properly anticipated. This means price should fully incorporate all the information and expectation of all the market participants. In contrast to Samuelsson, Fama concentrated on statistical measures of stock price and resolving the debate regarding technical analysis and fundamental analysis of stock price. This researcher summarized that current price stocks fully reflect all information available to market participants. These two empirical research studies on this critical area of finance have helped many researchers thereafter to develop several econometric single or multifactor linear asset pricing models (Seweel, 2011, p.4). Random walk hypothesis Importance of efficient market hypothesis can be identified from empirical implications of it in many pieces of research and studies by empirical researchers.

Blood wedding (after seeing the play) Essay Example | Topics and Well Written Essays - 500 words

Blood wedding (after seeing the play) - Essay Example desires, the moon’s movements, in contrast is rather limited and passive, and it makes the bride seem to represent the woman who finally refuses to be oppressed by a traditional marriage, while the moon seems to represent a woman who is stuck in the usual suppressed life dictated by the traditional norms of a typical wife.This essay will attempt to elaborate upon this contrast in these two characters and how these were exemplified through the spatial dynamics. First, from the contrast in the extent of movement around the stage, the bride seems to represent a free woman who pursues what she wants, while the moon is still a suppressed woman. The bride’s movement around the stage seems to be free, fast and strong. Specifically, her distance from the bridegroom and Leonardo are contrasted intentionally. In the beginning of the play, the bride tries to accept her fate marrying the bridegroom and tries to be away from Leonardo. However, as the play proceeds, the bride desires to follow her heart start dominating and she chooses Leonardo. The state of the bride’s mind was strongly reflected in the differet distances she maintains from the two men in her life. Whenever she tries to keep away from either of the men, she quickly runs away as the man approaches and even aggressively shakes off their physical contact and keeps distance at times. For instance, in the beginning of the wedding the bride tries to control her true desire and thus maintains a significant distance from Leonardo but although her true feelins are revealed in the glances she throws at him as well as often spaced out thinking of him throughout wedding. Eventually, by the end of her wedding reception, she chooses to follow her heart and runs away with Leonardo. In contrast to the Brides dynamism, the moon, which appears in the woods scene has very static and limited body movement and further, uses only so much of the stage-space. The fact that the role of the Moon is played by the same actor who

Reconstitution of a Partnership Essay Example for Free

Reconstitution of a Partnership Essay Partnership is the relation between persons who have agreed to share the profits of the business carried on by all or any of them acting for all. An essential element of partnership is to have an agreement and wherever a change takes place in this relationship it results in reconstitution of the partnership firm. Reconstitution of the firm may happen under any of the following circumstances and as a result there will be a change in the profit sharing ratio: 1) Change in the profit sharing ratio amongst the existing partners; 2) Admission of a new partner; 3) Retirement of an existing partner; 4) Death of a partner and 5) Amalgamation of two partnership firms Change in the profit sharing ratio of existing partners: The partners of a firm may decide to change their profit sharing ratio and in such eventuality, the gaining partner (i. e. the partner whose share has been reduced) unless otherwise agreed should be paid some compensation and the compensation is the value of goodwill represented by the gain because the change in profit sharing ratio means that one partner is purchasing from another partner of the profits. For example; James and Jones, two partners of a firm are sharing the profits of the firm in the ratio of 3:1 and if it is decided that in future both will be equal partners, it means that James is selling to Jones  ¼ th (3/4-1/2) share of profits. Therefore, Johns will pay to James an amount equal to one fourth of the total value of goodwill. In concrete terms, suppose, the profit is $20000 previously James would get $15000 and Jones would get $5000. After the change in the profit sharing ratio, each would get $10000. James, therefore, loses annually $5000 and Jones gains $5000. If the goodwill is valued at $40000, Jones must pay James one fourth of $40000 namely $10000. This adjustment is usually made by passing an adjustment entry. In this case, Johns capital account will be debited and James capital account will be credited with $10000. In addition to the adjustments for goodwill, the change in profit sharing ratio also requires the adjustment of profit/loss on revaluation of assets and reassessment of liabilities, accumulated reserves and profit (or loss) etc. Sacrificing ratio and gaining ratio: Change in the profit sharing ratio of existing partners will necessarily mean that one or more partners are surrendering a part of their share in the profits in favor of one or more other partners. A part of share being so surrendered is termed as sacrificing ratio while the share gained by each partner is termed as gaining ratio. Sacrificing ratio is computed by deducting the new ratio from the old ratio. Gaining ratio is computed by deducting the old ratio from the new ratio. References: http://classof1.com/homework-help/accounting-homework-help/

Corporate Social Responsibility A Strategy For Inclusive Development Business Essay

Corporate Social Responsibility A Strategy For Inclusive Development Business Essay Events around the world over the last few decades have emphasized the need for corporate entities, their stakeholders, governments and international organizations to take the issue of Corporate Social Responsibility seriously. Incidents such as the explosion at the Union Carbide Bhopal, India in 1984, the oil spillage at Prince William Sound, Alaska USA in 1989, a few corporate scandals; for example the Mirror Group UK 1991, the Bank of Credit and Commerce International (BCCI) 1991, UK, Polly Peck 1992, UK, Enron USA 2001, World Com USA 2002, Parmal at Italy 2003 remain fresh and indelible in our minds. Issues such as rampant poverty, climate change and global warming, human rights abuses, terrorism and the globalization of the world economy also affect how corporate entities conduct their operational practices. These operational practices consequently impinge on how corporate entities perceive their responsibilities to societies; and in turn societies expectations from corporate ent ities have increased. Societies give license to businesses to operate and consequently businesses have to serve society not only by creating wealth, but also by contributing to social needs and social expectations towards society. The current state of world affairs, calls for development that is inclusive. This paper delves upon issues such as the need for inclusiveness in development, the role of business in the contemporary society and its association with inclusive development, the Governments contribution towards CSR facilitation and the promotion of CSR by the corporate sector as a strategy for Inclusive Development. Inclusive Development Many people end up being excluded from the mainstream society; the reasons may be varied like gender, ethnicity, age, sexual orientation disability or the deprivation of basic human rights. This exclusion has resulted in making poverty and inequality a global challenge today, affecting nearly all countries of the world. The World Bank estimates for the year 2008 indicate that approximately 3 billion people or 45% of the global population is living below the international poverty line ($1-2 a day). If inflation is taken into account global poverty is on the rise. Poverty is a vicious cycle and the poor or unfortunate are in a way trapped in this cycle.   They lack access to good nutrition, health care and decent living conditions face barriers to education, employment and public services and are thus denied a dignified human existence.    Economic growth is an important factor in reducing poverty and generating the resources necessary for human development and environmental protection. The past fifty years have seen unprecedented global economic growth. This growth evidently has failed to bring about an overall development to societies across the world. The challenges discussed so far underscore the need for Inclusive development, an  emerging concept that recognizes diversity as fundamental to sustainable socio-economic and human development, based upon the notion that every human being can and should contribute to the development process where isolated policies be replaced by integrated strategy benefiting individuals and societies as a whole.   It is only right then that economic growth and development today is revisited by all actors in the society instrumental in generating this development. In order to structure such a strategy, all projects related to  education, health promotion, environmental and social protection need to consider those trapped in the vicious cycle of poverty. Development that is Inclusive reduces poverty where all groups of people contribute to creating opportunities, share the benefits of development and participate in decision-making. United Nations Development Programs human development approach complements Inclusive development as it integrates the standards and principles of human rights: participation, non-discrimination and accountability for all social and environmental concerns. Sustainability and Inclusive Development Sustainable practices encourage conserving, mitigating waste and enhancing our resource bases by gradually changing the ways in which we use natural resources available to us for industrial and personal consumption and the technologies we choose and the way we apply them. Nations strive to meet the basic requirements of their people for employment, food, energy, water and sanitation. To achieve this sustainably, there is need to balance economic, environmental and social goals so that prosperity is ensured not only for the current but future generations as well. Poverty eradication is an integral part of the goal of an environmental strategy for the world. The concepts of a shared planet, global citizenship, spaceship earth cannot be restricted to environmental issues alone. They apply equally to the shared and inter-linked responsibilities of environmental protection and human development. Restoring natural systems and improving natural resource management practices at the grassroots level are central to a strategy to eliminate poverty. It can be inferred that sustainable development is a precondition to achieving inclusive development. Role Of Business Corporate Houses have become powerful institutions on the planet in the last 50 years. Businesses have emerged stronger and more powerful when compared with Nation states. Willis Harman notes that the dominant institution in any society needs to take responsibility for the whole as the church did in the days of the Holy Roman Empire. The expectations from Business are indicating reflections of a demand for change. Business has been asked to be Inclusive and not just merit based; maximal and not just legal; to be ahead of law and not just run with it; to be consultative rather than just procedural; to meet global standards and not just local ones. In short, a large part of social responsibility is expected to be taken by corporate houses and therefore the concept Corporate Social Responsibility has emerged over time. Inclusive Development is to be shaped by various factors, such as; the functional definition of inclusive development, interventions that enhance governance and promote effective institutions, sound economic policies, and cultural and socio-economic considerations in policymaking and implementation. Inclusive development is an effective tool for overcoming social exclusion, combating poverty and ensuring social and economic sustainability, i.e. all sections of the society benefit out of such initiatives. Governance, trade, technology and financing practices determine social justice and protection of the rights of the underprivileged. It involves all actors in the society the government, businesses, public and private sector institutions, civil society or communities themselves. CSR as a strategic tool by companies with collaborative support of the above mentioned actors can and has become one of the important drivers to promote overall human development ensuring environmental protection. Such development is sustainable and leads to Inclusive Growth. CSR Models Today we have innumerable examples of Companies where Inclusive Development has been the guiding principle for Business in the long run. A few International names include Coca Cola, Starbucks, Johnson Johnson and Microsoft. In the Indian scenario we can begin with the legendry Tatas followed by Infosys, ITC, Bharti, Mahindra Mahindra, Wipro and many others. Initiatives of a few companies are covered underneath. The Tata Group Pioneers in the area of CSR in India, the TATA group has always played an active role in nation building and socio-economic development. Over the years, the Tata philosophy to Give back what you get has been followed by all their enterprises across India. Be it relief measures, rural development, health care, education, art and culture, they have been very forthcoming. As a result every year, the Tata Groups contribution to society has been phenomenal. Tatas spent Rupees 1 billion on 8 community development and social services projects during the fiscal 2001-02-the highest by any corporate house in India. ITC ITC partnered the Indian farmer for almost a century. They are now engaged in elevating this partnership to a new paradigm by leveraging information technology through its trail blazing e-Choupal initiative. Figure 1 : An ITC E- Chaupal In June 2000, ITCs Agri-Business Division conceived E-Choupal ( Figure 1) as a more efficient supply chain aimed at delivering value to its customers around the world on a sustainable basis. The model has been specifically designed to tackle the challenges posed by the unique features of Indian agriculture, characterized by fragmented farms, weak infrastructure and the involvement of numerous intermediaries, among others. E-Choupal also unshackles the potential of Indian farmer who has been trapped in a vicious cycle of low risk taking ability > low investment > low productivity > weak market orientation > low value addition > low margin > low risk taking ability. It makes the farmer and the Indian agri-business sector globally uncompetitive, despite rich abundant natural resources. Such a market-led business model can enhance the competitiveness of Indian agriculture and trigger a virtuous cycle of higher productivity, higher incomes, enlarged capacity for farmer risk management, larger investments and higher quality and productivity. Infosys Infosys, Mr. Narayan Murthy has been at the forefront to champion the role of good corporation He said we should look for public good and private good will automatically come. In March 1996 the Infosys Foundation was created in the state of Karnataka operating in the areas of health care, social rehabilitation and rural uplift, education, arts and culture. Since then, this foundation has spread to the Indian states of Tamil Nadu and Andhra Pradesh, Maharashtra, Kerela, Orrisa and Punjab. The foundation receives 1.5 % of the company after tax profits. In line with its stakeholder driven approach the allocation of funds is based on a participatory process. Since 2004, Infosys has embarked on a series of initiatives to consolidate and formalize its academic relationships worldwide under the umbrella of a program called the AcE ie Academic Entente. Through case study writing, participation in academic conferences and university events, research collaborations, hosting study trips to Infosys development centres and running the instep Global Internship program, the company communicates with important stakeholders in the academia promoting meaningful development. Starbucks Starbucks, a leading example of Environmental Sustainability has outlined a bold global environmental strategy that will help achieve a meaningful reduction in the companys environmental footprint. Starbucks has identified climate change as a key priority for the company and is in the third year of implementing its climate change strategy. The company has committed to significant renewable energy purchases for its stores and has also focused on ways to improve energy efficiency through store design. Starbucks also believes it has a role to play in consumer education and awareness, and is beginning to engage its supply chain partners on climate related issues such as renewable energy. In 2005, The Starbucks Emerging Issues Council, (a group 18 senior Starbucks executives) prioritized climate change as a key issue for the company in response to the environmental threats facing coffee growing communities. The council is also involved in determining what further measures are needed for the company to proactively and responsibly address the issue of climate change in a leadership capacity. The Starbucks three year climate change mitigation strategy includes the following steps to reduce the companys emissions: Purchasing renewable energy Focusing on energy conservation measures Educating and advocating the need for collaborative action Figure 2: A Starbucks Plantation The Starbucks three year climate change mitigation strategy includes the following steps to reduce the companys emissions: Purchasing renewable energy Focusing on energy conservation measures Educating and advocating the need for collaborative action As a responsible company, Starbucks is open and honest about the successes and challenges they face. Their Global Responsibility Reports give a clear picture of the progress theyve made in the areas of ethical sourcing, environmental stewardship and community involvement. Coca Cola Established in 1886, The CocaCola Company operates in more than 200 countries and markets nearly 500 brands. They are a global business that operates on a local scale in every community where they do business. The CocaCola system operates in the context of a broader value cycle: They work with others to source ingredients, create packaging, sell products, recover and reuse packaging materials and replenish the water used. Managing sustainability through a complex business cycle can be challenging, however collaborating closely with our business partners, communities and consumers, they seek to ensure environmental and social responsibility and are working to encourage consumers to recycle the packaging materials associated with their products. Global Sustainability select goals and targets for Coca Cola include: Active Healthy living, Energy management, Climate protection, Community, Sustainable packaging and Water stewardship. It is evident that a new paradigm for innovation is emerging: a partnership between private enterprise and public interest that produces profitable and sustainable change. Companies are moving beyond corporate social responsibility to corporate social innovation. Traditionally companies viewed the social sector as a dumping ground for spare cash, obsolete equipment and tired executives. This mindset could not create lasting change. Community needs are now viewed as opportunities to develop ideas and business technologies leading to both business and community payoffs. Government as a CSR facilitator Inclusive development requires that planning and interventions are state-led, with indispensable but ancillary engagement by the private sector and other stakeholders. CSR has not evolved separately from the public policy. Many governments have actively participated in encouraging corporations to voluntarily assume greater responsibility of the social/environmental aspects of their business policies by way of seeking to harness various market mechanisms to promote CSR. They have been promoted by various National governments, the European Union and several Inter-Governmental Organizations most notably the United Nations and the Organization for Economic Co-operation and Development (OECD). It is interesting to note the shift in the motivations of governments for encouraging CSR. For almost three decades now it has been associated with addressing corporate governance deficits but more recently improving corporate policies with respect to issues like social cohesion, national competitiveness and environmental stability have been emphasized. The interest of the Governments is not only to encourage CSR initiatives but also to build CSR capacity. Shift is also being witnessed from endorsing and facilitating CSR by corporate to including partnering and mandating CSR through soft legislation. In advanced capitalist countries governments are playing extensive roles in a variety of initiatives to encourage CSR. The last decade has seen developments of newer roles and relationships between Governments and corporations. The UK Government has created a ministerial portfolio of CSR; corporations have created forms of self reporting and self regulation for instance The Global Reporting Initiative (GRI) ; NGOs such as the World Wildlife Fund (WWF), Amnesty International, to name but just two have entered partnerships with corporations to help them improve environmental and social practices. There is evidence of substantial growth in the number of ethical or social mutual funds as well. In India, The Ministry of Corporate Affairs has issued CSR Voluntary Guidelines in 2009 for the Private Sector, to help encourage business entities formulate a CSR policy, guide its strategic planning and provide a roadmap for its CSR initiatives which are an integral part of the overall business policy and aligned with its business goals. The policy is expected to be framed with the participation of various level executives and approved by the Board. The Ministry of Corporate affairs has urged all companies to create a separate fund for their CSR activities in the interest of greater transparency. The recommendation is a part of Voluntary guidelines for companies especially those listed on the stock market. Core Elements of the Policy Guidelines include: Care for all Stakeholders: The companies should respect the interests of, and be responsive towards all stakeholders, shareholders, employees, customers, suppliers, project affected people, society at large etc. and create value for all of them. Ethical functioning: Their governance systems should be underpinned by Ethics, Transparency and Accountability. They should not engage in business practices that are abusive, unfair, corrupt or anti-competitive. Respect for Workers Rights and Welfare: Companies should provide a workplace environment that is safe, hygienic and humane and which upholds the dignity of employees. They should provide all employees with access to training and development of necessary skills for career advancement, on an equal and non-discriminatory basis. Respect for Human Rights: Companies should respect human rights for all and avoid complicity with human rights abuses by them or by third party. Respect for Environment: Companies should take measures to check and prevent pollution; recycle, manage and reduce waste, should manage natural resources in a sustainable manner. Activities for Social and Inclusive Development: Depending upon their core competency and business interest, companies are expected to undertake activities for economic and social development of communities and geographical areas, particularly in the vicinity of their operations for disadvantaged population. The CSR policy of the business entity is also expected to provide for an Implementation strategy that includes identification of projects/activities, setting measurable physical targets with timeframe, organizational mechanism and responsibilities, time schedules and monitoring. The Implementation Guidelines: *Companies may partner with local authorities, business associations and civil society/non-government organizations. *Companies should allocate specific amount in their budgets for CSR activities. *To share experiences and network with other organizations the company should engage with well established and recognized program/platforms which encourage responsible business practices and CSR activities. *The companies should disseminate information on CSR policy, activities and progress in a structured manner to all their stakeholders and the public at large through their website, annual reports, and other communication media. In addition to the Voluntary Guidelines another Government initiative if materialized, would lead to a situation where Corporate Social Responsibility for a state-owned firm may no more be just a photo opportunity for its chairman but would involve people-centric projects to be funded by 2-5 per cent of the companys net profits. The Department of Public Enterprises (DPE) is in the final stage of preparing guidelines for the Central Public Sector enterprises (CPSE s) to take up important CSR projects. The proposal, cleared by the Committee of Secretaries is awaiting approval by Heavy Industries and Public Enterprises Ministry. It proposes a contribution of 3-5 % for enterprises with net profits of up to Rs 100 crore. Those earning net profit of more than Rs 100 crore may be asked to contribute up to two per cent of the amount. The Government has taken a very firm step and its regularization may see tangible impact on CSR initiatives undertaken by the companies. The CSR would inherit dimensions apart from traditional welfare related CSR practices like organizing blood donation camps charity events and the like. The CPSEs would be obliged to take up specific projects to help people affected directly or indirectly by their businesses. It would be the Companys primary obligation, to recycle part of their profits in order to help the society. While several CPSEs provide funds for CSR projects, it is not obligatory in nature so far. The guidelines would provide for measurement of the CSR. These obligations would be set in the Memorandum of Understanding, which sets targets for an individual CPSE. The performance evaluation of the companies would also have CSR performance as one of the parameters of overall performance of the company. The CSR Credits system that was proposed recently by the Corporate Affairs Minister Shri Salman Khurshid is a way forward where soft legislation will gradually facilitate CSR integration into the very core of corporate strategy. Mr. Khurshid believes that charity is rewarded in tax exemptions and other benefits however CSR remains unrewarded. Reiterating the idea of making CSR quantifiable he has urged corporate to debate the possibility of establishing a CSR exchange to deal in CSR Credits. Through the CSR exchange mechanism, companies would be able to trade in CSR credits, akin to trading in carbon credits. This is to be done through certification for their CSR activities by a government body. The credits could then be traded in a CSR credit exchange. The system translates into a situation where a company yet to engage in CSR may be able to compensate it through purchasing CSR credits from company that has already earned them. This would be quite similar to carbon credits where a polluting entity has to buy carbon credits from companies that have earned them through environment-friendly activities. In addition to this another issue under consideration is the conflict of interest where a company produces consumer products that are deemed harmful to consumption and health. Shri Khurshid said If there is a business that is inherently destructive and unwholesome, a way has to be found to offset the negativity of that business. The Governments are using CSR to complement Government policies in order to promote Inclusive Development. This system reflects new forms of Governance in which Governments employ a much richer and subtler array of mechanisms to affect business behavior rather than employing enforcement. The use of policies that endorse, facilitate and partner with firms is further characteristic of a new governance paradigm which emphasizes norms, networks, incentives and volunteerism. Government participation in promoting CSR may be an anathema to the business world as it may conjure up visions of control and constraints to operate competitively in a global world but positive though incipient signs of change are visible as we trace the evolution. CSR-Business Society Interface The phrase Corporate Social Responsibility originates with H. Bowen, who wrote Social Responsibility of Businessmen in 1953. Corporate Social Responsibility (CSR) is used to describe businesses integration of social and environmental issues into decisions, goals, and operations. Other terms used in the CSR context are: Corporate Responsibility, Sustainability, Corporate Citizenship, Ethical Business Practices, Social/Environmental Responsibility, Triple Bottom Line and Environmental and Social Stewardship. The basic questions at the heart of CSR are as old as business itself, such as what is business for? What contribution does it make to society? Its rise to prominence however has not been a smooth one, as the concept has been frequently discredited, written off, marginalized or simply overlooked in favor of new or supposedly better ways of conceptualizing the business and society interface. Archie Carroll has provided an interesting overview of some of the prominent CSR Definitions. Milton Friedman (1970) contends that social responsibility of the firm is to increase its profit, Keith Davis (1973) supported the view that CSR requires consideration of issues beyond the narrow economic, technical, and legal requirements of the firm. Definition concepts in the Oxford Handbook range from CSR as an obligation to respond to the externalities created by market action to CSR as a discretionary spending in furtherance of an explicit measurable social objective consistent with relevant social norms and laws and CSR as an additional political responsibility to contribute to the development and proper working of global governance. Defining CSR is therefore not just a technical exercise but also a normative one in setting out what corporates should be responsible in society or an ideological one describing how the political economy of society should be organized to restrain corporate power. CSR is still a developing field of research as also Lockett et al concluded from a decade long study of CSR literature that CSR knowledge could best be described as in a continuing state of emergence. To sum up Corporate social responsibility (CSR) can most comprehensibly be called an approach through which companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis. The relative ambiguities regarding the definition and clear identity of CSR as an area of academic enquiry is also reflected in the institutional infrastructure of CSR, most notably in the Journals where CSR research is published, the societies and conferences which facilitate scholarly debate, and institutionalization of CSR as a field of academic teaching. The table below lists the Journals in the field of CSR. It can be noted that none of the CSR Journals have CSR as a title. Table 1: CSR Journals Journal Name Formation Date Editor Base Business Society (Sage) 1960 USA Business Society Review(Blackwell) 1972 USA Journal of Business Ethics ( Springer) 1982 Canada Business Ethics Quarterly(Society of Business Ethics) 1991 USA Business Ethics: A European Review ( Blackwell) 1991 UK Corporate Governance:International Journal of Business in Society(Emerald 2001 UK Journal of Corporate Citizenship (Greenleaf) 2001 UK Corporate Social Responsibility and Environmental Management 2002 China CSR Evolution: The concept of CSR has long and wide ranging history, it is mostly the product of the 20th century especially since the 1950s. It was referred more as social responsibility (SR) than CSR for many years. Patrick Murphy in the University of Michigan Business Review, 1978 states that the period before 1950s was the philanthropic era in which companies donated to charities. Between 1953 and 67 was the awareness era during which there was more recognition of the overall responsibility of business and its involvement in community affairs. The period between 1968 -73 was termed the issue era in which companies began to focus on specific issues such as urban decay, racial discrimination and pollution problems. Finally the responsiveness era 1974-2008 and continuing beyond, companies began taking serious management and organizational actions to address CSR related issues. CSR Theories: Various CSR Theories have taken shape over time the most comprehensive are compiled by Garriga and Mele (2004) mentioning precisely four theories about the responsibilities of Business in Society: Corporate Social Performance Theory, Shareholder Value Theory, Stakeholder Theory, Corporate Citizenship Theory. Corporate Social Performance Theory has its roots in Sociology. It has evolved from several previous notions and approaches. It is a configuration in the business organization of principles of social responsibility, processes of response to social requirements and policies, programs and tangible results that reflect the companys relations with society, (Wood 1991). Archie Carroll (1979) was the first to introduce the concept of Corporate Social Performance. He made a synthesis of the basic principle of social responsibility. Carroll suggested that the entire range of obligations that business has to society must embody economic, legal, ethical and discretionary (philanthropic) categories. In 1991, Carroll first included them in a Pyramid of Corporate Social Responsibility, as shown in Figure3. Figure 3: CSR Pyramid The four classes reflect that the history of business suggests an early emphasis on the economic and then legal aspects and a later concern for the ethical and discretionary aspects. It was suggested that, although the components are not mutually exclusive, it helps the manager to see that the different types of obligations are in a constant tension with one another. More recently, Schwartz Carroll have proposed an alternative approach on three core domains (economic, legal and ethical) and a Venn model frame work. The Venn framework yields seven categories resulting from the overlap of three core domains. Wartick Cochran extended the Carroll approach suggesting that corporate social involvement rests on principles of social responsibility, process of social responsiveness, and the policy of issues management. In recent times more and more corporations are being proactive in publishing reports on economic social and environmental performance. The Global reporting initiative has become more and more popular as have certifications or reports, such as the UN Global Compact, AA1000, SA 80000 and others . All of this introduces more complexity into the corporate social performance models but in essence, the conceptual foundations remain unalterable. Shareholder Value Theory is based on Economic Theory. It is also referred as Fiduciary Capitalism and holds that the only social responsibility of business is making profits and as a supreme goal, increasing the economic value of the company for its stakeholders. In the 1960s and 70s there was a debate between Friedman and others who defended the business enterprise as being responsible only for making as much profit as possible, in contrast scholars including David and others argued that corporations had power and power entails responsibility, therefore corporations had responsibilities beyond economic and legal. Friedmans position was clearly against that of the concept of social responsibility. Theodor Levitt, (once the editor of HBR) wrote about the dangers of corporate social responsibility. In his words Corporate welfare makes good sense if it makes good economic sense, and not infrequently it does. But if something does not make economic sense, sentiment or idealism ought not to let it in the door Since then some economists have argued that the market, instead of managers, should have control over allocation of resources