Industrialization and the Rise of Big Business Essay

From the period of 1870 to 1900, the United States became one of the world’s strongest and growing industrial nations. An industrial revolution that had begun with the manufacture of cotton and woolen textiles had, by the beginning of the 20th, transformed the production of most everyday goods. Ranging from food, clothing, appliances, and automobiles, the enormous output of industrial production led to the rise of big business as it coordinated methods of distribution and sales to forge an infrastructure for consumer culture. The rise of corporations, such as Carnegie Steel, J.P. Morgan, and Standard Oil, in the late 1800’s, was able to dramatically shape the country politically, socially, and economically and even continues to do so today through new modern finance and monopolies. Industrial growth was mainly fueled by a surplus in resources, immigration and therefore cheap labor, and major technological advances that expanded the capabilities of various industries. As technological advances transformed production and distribution, a wave of inventions, including the typewriter, light bulb, and automobile led into new industries. Through this boom in business, leaders learned how to operate many different financial activities throughout the nation. Ultimately, they were able to become larger and the modern corporation was â€Å"born† into one of the most important roles in the future of business. These corporations seemed â€Å"new† for many people in the country, but corporations actually date back to the 16th and 17th centuries, where they were used by royalty and governments to organize exploration and possible colonization. Many businessmen and politicians had been suspicious of the corporation from the time it first emerged in the late 16th century. Unlike the partnership form of business, which dealt with a small amount of people on a personal level, the corporation separated ownership from management. In Adam Smith’s The Wealth of Nations, he warns that because managers could not be trusted to steward â€Å"other people’s money†, â€Å"negligence and profusion† would eventually result when businesses organized as corporations. In 1811, New York became the first state that passed legislation concerning protocol and procedure for becoming a corporation, and other states eventually adapted this as well. Corporations were well suited to meet the demands of the Industrial Revolution, which generated a giant increase in business opportunities which, in hand, required massive amounts of money but â€Å"over the last 150 years the corporation has risen from relative obscurity to become the world’s dominant economic institution† (Bakan 5). â€Å"The genius of the corporation as a business form, and the reason for its remarkable rise over the last three centuries, was-and is-its capacity to combine the capital, and thus the economic power, of unlimited numbers of people† (Bakan 9). As corporations become more powerful and fuel development of large-scale industry, they affect politics. The men idolized by some and vilified by other, America’s 19th century Robber Barons were the true creators of the modern corporate era. The railroad was the first major monopoly in the United States. Since these railroads were massive undertakings, they required millions of dollars in capital investment. This was more than could be provided by relatively small group of wealthy men who invested in corporations at the turn of the century and the majority of the money was raised through the sales of stocks and bonds. With greed and corruption heavily present throughout the construction of the railroads, beginning in the 1890s, the corporation underwent a major transformation. The states of New Jersey and Delaware sought to attract valuable incorporation business to their jurisdictions by jettisoning unpopular restrictions from their corporate laws. In addition, they also repealed the rules that required businesses to incorporate only for defined purposes, to exist only for limited durations, and to only operate in certain locations. Another move consisted of loosening control on merger and acquisitions and they abolished the rule that one company could not own stock in another. Soon the rest of the country, not wanting to lose out in the competition for the incorporation business, soon followed their examples with revisions to their own laws. With flexible freedoms and powers now available, there was a large amount of incorporations by businesses. However, with all the constraints on mergers and acquisitions gone, it was only a matter of time before companies bought each other out. â€Å"1,800 corporations were consolidated into 157 between 1898 and 1904. In less than a decade the U.S. economy had been transformed from one in which individually owned enterprises competed freely among themselves into one dominated by a relatively few huge corporations, each owned by many shareholders† (Bakan 14). The era of corporate capitalism had begun with all those consolidations and mergers. With the economy dominated by a few huge corporations, we find ourselves looking at the development of monopolies, development the states started by limiting the set laws. With the growing capitalism pressuring politicians, a bizarre law was passed by the Supreme Court in 1886. â€Å"The courts had fully transformed the corporation into a â€Å"person†, complete with its own identity, separate from the actual people who were its owners and managers, like a real person, to conduct business in its own name, acquire assets, employ workers, pay taxes, and go to court. The logic of this law conceived if corporations were considered free individuals, or â€Å"persons†, corporations should be protected by the Fourteenth Amendment’s right to due process of law and equal protection of the laws, rights originally added to the constitution to protect freed slaves† (Hobsbawm 208). Trusts were becoming a problem after several years of abuse by major corporations. By the end of the 19th century, trusts used to crush competition and create monopolies throughout different industries had gotten to a point where the public demanded that there be something done. Congress ended up passing the Sherman Antitrust Act in 1890. This Act has two main prov isions which apply to most of the corporations of the time. Every contract or agreement, in the form of a trust or not, or conspiracy to restraint trade in commerce is illegal and second, it would be illegal for anyone to monopolize, try to monopolize, or conspire to monopolize commerce. The Sherman Act was just the first of a series of laws aimed at controlling attempts by business firms to conspire and establish monopoly power in industry and commerce. Other acts followed when it became apparent that the Sherman Act had loopholes. Teddy Roosevelt was known as the â€Å"trust buster† because of his anti-monopoly views. Many large corporations had complete control of an entire industry and Roosevelt went in to these companies and helped to stop this type of monopoly, even managing to break up Northern Securities and J.P. Morgan. A big supporter of labor, he set up child protection laws, which were used to prevent children to work in factories and set up workman compensation, which is a payment that employers had to pay employees who ge t injured on the job. After the Great Depression occurred sometime around 1929 until the early 1940s, Roosevelt stepped in and called for Congress to help him pass his â€Å"New Deal†. â€Å"The â€Å"New Deal† was a package of regulatory reforms designed to restore economic health by, among other things, crushing the powers and freedoms of corporations† (Bakan 20). On March 9 Congress passed the Emergency Banking Act, which allowed the federal banks to be inspected. They also passed the Glass-Steagall Act, which had stringent rules for banks and provided insurance for depositors through the newly created Federal Deposit Insurance Corporation (FDIC). Two more acts in 1933 and 1934, mandated specific regulations for the securities market, enforced by the new Securities and Exchange Commission (SEC). Several bills provided mortgage relief for farmers and homeowners and offered loans for home purchasers through. Also, the National Labor Relations Act of 1935 gave federal protection in the bargaining process for workers and established a set of fair employment standards. The National Labor Relations Act guaranteed workers the right to organize and bargain through unions and the Federal Fair Labor Standards Act of 1938, the last major program launched by Roosevelt specified maximum hours and minimum wages for most categories of workers. A monopoly is considered an economic situation in which only a single seller or producer supplies a commodity or a service. Economic monopolies have existed throughout most of history and in modern times we still deal with their continued threat. We usually encounter monopolies when giant business firms began to emerge and dominate the economy. Usually more than one firm in the same industry grows and dominates the market resulting in oligopoly, in which the market is dominated by a few firms. A modern example is Microsoft, which was founded in 1975 by Bill Gates and Paul Allen. In 1985, Microsoft released the Windows OS, an OS with the same features of MS- DOS just with a graphical user interface added for ease of use. Windows 2.0, released in 1987, improved performance and offered a new visual appearance. In 1990 Microsoft released a more powerful version, Windows 3.0. These versions, which came preinstalled on most new personal computers, becoming the most widely used operating systems in the industry at the time. In 1993 Apple lost a copyright-infringement lawsuit against Microsoft that claimed Window s illegally copied the design of the Macintosh’s operating system. In May 1998, the Justice Department and 20 states filed broad anti-trust suits charging Microsoft with engaging in â€Å"monopolistic† conduct. They wanted to force Microsoft to offer Windows without Internet Explorer or to include Navigator, a competing browser made by Netscape. In November 2001 Microsoft announced a settlement with the Justice Department and nine of the states. Key provisions included requiring Microsoft to reveal technical information about the Windows operating system to competitors so that software applications could be compatible with Windows, while also enabling personal computer manufacturers to hide icons for activating Microsoft software applications. A computer manufacturer could therefore remove access to Internet Explorer and enable another Internet browser to be displayed on the desktop. Corporations transformed the U.S. economy through breakthroughs in technology as well as new business practices and strategies. â€Å"The early Industrial Revolution not only changed manufacturing technically but also introduced a new organization of industry. These innovations followed from the new machinery but had advantages of their own. Together, these changes constitute its economic impact† (Stearns). Americans created giant enterprises. Businesses such as Standard Oil and Carnegie Steel brought together huge stocks of natural resources and unprecedented quantities of modern machinery to mass-produce goods for domestic and international markets. In meeting these demands, American entrepreneurs pioneered the development of modern business with its large-scale production and widespread markets, first by developing the railroad industry and then by creating industrial corporations. These railroads were massive undertakings, they required millions of dollars in capital investment. This was more than could be provided by relatively small group of wealthy men who invested in corporations at the turn of the century and the majority of the money was raised through the sales of stocks and bonds. â€Å"Everything the stock market is, and was, rooted in the basic idea of capitalism. Without that idea, stocks and bonds would never have come to be. Capitalism is an â€Å"economic system in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and reinvestment of profits gained in a free market† (Hobsbawn 48). In the steel industry, Carnegie developed a system known as vertical integration. Carnegie bought his own iron and coal mines because using independent companies cost too much and was inefficient. Through this method he was able to charge less than any of his competitors. Unlike Andrew Carnegie, John D. Rockefeller integrated his oil business into horizontal. He followed one product through all its stages. Although, Carnegie inclined to be tough-fisted in business, he was not a monopolist and disliked monopolistic trusts. John D. Rockefeller came to dominate the oil industry. He created the first U.S. trust in 1882 by persuading the stockholders of the 40 companies associated with his to turn over their common stock to nine trustees in exchange for trust certificates. However, in 1911, the Supreme Court found that unlawful monopoly power existed in his company ordered him to dissolve it into smaller, competing companies. The development of trusts coincided with industrialization in the U.S. The trust movement was both a way to create large-scale business firms in this period and a downfall of the tremendous growth of industry. The success of the Standard Oil Company and U.S. Steel company was credited to the fact that their owners ran them with great authority. In this very competitive era, many new businesses were being formed and it took talented management to get ahead and have the companies running smoothly while making a great deal of money. As corporations expanded they affected the social outlook of the nation and brought social changes fueled by the Industrial Revolution. â€Å"In the wake of the twentieth- century merger movement, many Americans realized that corporations, now huge behemoths, threatened to overwhelm their social institutions and governments† (Bakan 17). Many people believed that corporate greed and mismanagement had caused the Great Depression. In response, business leaders embraced corporate social responsibility, believing that it was the best strategy to restore people’s faith in corporations. â€Å"New Capitalism† was the term that was used to describe the trend that softened corporations’ images with promises of good corporate citizenship and better working conditions. â€Å"By the end of WWI, some of America’s leading corporations, among them, General Electric, Eastman Kodak, National cash register, Standard Oil, and US Rubber, were busy crafting images of themselves as benevolent and socially responsible† (Bakan 18). As economic activities in many communities moved from agriculture to manufacturing, production shifted from its traditional locations in the home and the small workshop to larger and more capable factories. A great amount of the population relocated from the countryside to the towns and cities where manufacturing centers were found. The overall amount of goods and services produced expanded dramatically, and the proportion of capital invested per worker grew. Industrialization gradually changed the nature of human life for many people. For the first time in American history, more than half the country’s population lived in cities. In Adam Smith’s The Wealth of Nations, he states that the most decisive mark of the prosperity of any country is the increase of the number of its inhabitants. On average, the population doubles in England and most other European countries around every 500 years. In America, the population doubles in about 25 years. With continued expansion of industrialization, America moves forward and advances with greater rapidity to the further acquisition of riches than any other countries. Key changes revolved around families as well, with work now farther from home, new specializations are required among some. While some women would be withdrawn from the formal labor force in order to supply domestic labor, and children were sent to school instead of being used in early industry. Outside the home, industrialization created new and unpleasant social divisions. The gap between the factory owners and the growing number of workers widened. New forms of protest, including strikes and political action developed alongside the advancement of industrialization. For years they had working long days on the farms, it’s the nature of the work that was biggest issue. Factory work tended to be monotonous and made work more dangerous. While on the farm, in the midst of the hard work, there was socializing and irregularity for the workers. Once in the shop, the workers had to deal with strict time schedules, and harsh working conditions. While wages were often low in the early years of industrialization, they ultimately improved, creating new opportunities for consumption. A small number of workers could also rise to become more highly skilled, even entering the ranks of supervisors. More substantial advancement, however, was rare. Most workers ultimately reduced their reliance on job satisfaction and sought shorter hours and higher pay instead. But life off the job did not necessarily improve rapidly. Working-class families might be tightly knit, but new tensions appeared. Many workers vented their frustrations on other family members and leisure life initially deteriorated with industrialization. Carnegie Steel, J.P. Morgan, and Standard Oil, are just some of the many corporations that rose in the late 1800’s, and were able to dramatically shape the country politically, socially, and economically and even continues to do so today. Without them, America would not be the world superpower that it currently is. The shift from and agricultural society into an industrial one may have been difficult for who lived during that era. However, by the turn of the century, industrialization had transformed commerce, business organization, the, the workplace, technology and general everyday life in America into something solid and positively profound. Now we face the challenge of deciding whether to leave the market to itself or to have the government regulate or control it. I believe that government control won’t amount to anything because of all the extra work needed. If the market was left to itself then corporations may take advantage of certain elements and monopolies may dominate the market. This best compromise would be for the government to regulate the market in a way that corporations are forced to do legitimate and legal business.

Introduction of Information Technology Related to Hotel and Restaurant Management

Chapter II Review of Related Literature Students look forward to the opportunity to choose their academic plans and classes. According to the enhanced cognitive engagement theory, allowing students to choose which classes they enroll in increases motivation and independence which in turn increases a student's cognitive processing and performance, however, the task of course selection is very complex with multiple considerations, most of which overlap with one another.Students are influenced by the different academic portions of the class such as the value of the content, the structure, and the workload. They also have to decide what is important to them with regards to their interests, personal academic goals, and their schedule. But students do not make these decisions alone because they do occasionally seek advice from their family, faculty, and/or friends. Not all of the different considerations of a course are as influential as others, but it is important to know what students wa nt from their classes, what they expect of themselves, and who they will listen to.Educators and schools need to know this information; especially those of elective courses so they can meet the needs of students and have them continue to enroll in their class. More importantly though, if teachers can adapt their classes to better meet the needs of students the students will be more engaged which will increase their comprehension and excitement for the curriculum, which should be any teacher's ultimate goal. The following paper provides further analysis on the most current research based on influential factors of course enrollment.The first section deals with the academic considerations such as, value and execution, teacher, and workload. The student must also take into consideration their own personal preferences of their interests, capabilities, gender, and their schedule, which is explained throughout the second section. The third component deals with the influential sources a stu dent may listen to including their family, peers, and the faculty at their school. Finally, the gaps and limitations of the research are discussed along with the need of further research. Reference: (http://voices. ahoo. com/the-factors-influence-students-decision-for-8258751. html) Each course is a unique mix of many different ingredients — from subject matter, to fellow students, to the jobs it leads to. The following points can be used as a checklist of things you need to find out about courses of interest. Think about what you will learn and how you’ll learn it . Subject matter is the first step to success is studying something you are interested in. Intellectual style, some courses are mainly ‘quantitative' (how's your maths? ), others are ‘verbal' or language based.Some encourage you to have your own ideas, ask the big questions and find out about the world. Work patterns, courses vary in the time students spend in lectures, tutorials, studios and lab classes and completing self-directed study. Some courses also have an industry-based learning component. If it is tough to study and pass. Some fields of study are notoriously tough, with high failure and drop-out rates. How long they take, VET certificates generally take a year or less of full-time study, diplomas and advanced diplomas around two years and bachelor degrees three or four years.Double degrees, ‘honours' courses and part-time programs will take longer. How much choice they allow, some courses require all students to complete the same ‘core’ subjects, while others allow you to choose a lot of electives. International study opportunities, optional summer study tours or study abroad and exchange programs may offer credit towards some courses. How you can study, courses may be offered full time, part time, by distance education or on an accelerated trimester schedule. Not all courses offer all options.Quality, regardless of their subject matter, course s should be well run by experienced staff and (if applicable) meet industry standards.Reference:(http://gooduniguide. com. au/School-Leavers/Choosing/How-to-choose-a-course) Choosing the course that you are going to study for the next 3 or 4 years can be difficult. Course content will vary between institutions and it is important to check that the courses you are applying for cover the topics you are most interested in. Reference:(http://www2. warwick. c. uk/study/undergraduate/apply/choosing/) The number of courses you take each semester will be one of the most important factors affecting your success at school. It's easy to get caught up in the excitement of choosing courses at the beginning of semester when you're rested and ready for a challenge. But you need to flash forward to mid-term – when the day-to-day reality of classes, assignments, reading, essays and exams will be all too real. Reference: (http://www. cmha. ca/youreducation/courses. html)

Analysis of the Authors Satire on the Presentation of Products to Consumers in The Onion

Analysis of the Author's Satire on the Presentation of Products to Consumers in The Onion In the mock press release from, The Onion, the author satirizes how products are marketed to their consumers and how people are gullible enough to believe all that marketers say about their product. By describing MagnaSoles, a fake product, the author brings about humor and realization in that most marketing campaigns are bogus. To achieve their purpose, the author uses his diction, appeals to ethos, and includes imagery to satire marketing. By using his diction, the author’s connotation behind his words satirizes marketers and the ridiculous claims that they place on their products. Through describing MagnaSoles as a, â€Å"total-foot rejuvenation system†, the reader can hear the sarcasm dripping from these words. Usually, these specific types of words are used in overplayed infomercials which overhype the product in attempt to sell. When a fake consumer describes their â€Å"intelligent† decision to buy MagnaSoles, they comment on how the product is â€Å"clearly endorsed† by doctors. Using these words, along with fake scientific-sounding jargon, reveals the connotation that people are gullible for believing that these doctors are real, just as many consumers of actual products for sale believe these products are endorsed by â€Å"doctors†. These doctors’ endorsements are used to make the product seem better and the gullible consumers believe what is put in front of them. With the phrase, â€Å"healing power of crystals†, the connotation is implied that anyone should see how this is clearly fake, satirizing how many customers believe anything a products’ website says. Through using diction, the author pokes fun at marketers and those dumb enough to fall for their bogus products. The author also appeals to ethos to satire marketers and their consumers by showing how those who are interested in buying a product, will believe anything they hear. By using customers testimonies, the product seems to actually works, and creates so called proof that the product does what it claims. This account creates a liaison between the customer and the marketer as people will believe â€Å"real† people. By using Helen Kuhn’s testimony of her saying, â€Å"Just try to prove that MagnaSoles didnt heal me†, the product seems to have proof that it works just as many real ads do. Using customer reviews on the MagnaSole, just as infomercials do, pokes fun at those who purchase certain products after hearing good reviews, whether it be from a friend or the TV. By using quotes from Dr. Arthur Bluhe, â€Å"the pseudoscientist who developed the products†, the audience becomes susceptible to being manipulated by the company as this man is posing as a doctor an d seems to know what he is talking about. Companies who create bogus products like MagnaSoles are being satirized through this as many use â€Å"doctors† to promote their products too. By appealing to ethos, just as many infomercials do, the author shows how people believe anything they hear and pokes fun at companies for the way they market to consumers. Through using imagery, the author describes the product and its’ effect in such detail as to be sarcastic about the benefits of MagnaSoles. By painting the image of â€Å"healing crystals used to stimulate dead foot cells with vibrational biofeedback†, the reader is able to see and understand how ridiculous this marketing campaign sounds. This makes fun of ads that try to in depth describe their product, but over exaggerate it and make it sound ridiculous. To continue with imagery, the author describes that foot problems come from when â€Å"the frequency of one’s foot is out of alignment with the Earth†. Anyone who reads this will instantly see how fake this sounds, yet people continue to purchase idiotic products like this. Through using imagery, The Onion describes the product and its’ effects so vividly as to satirize the product and its’ consumer. The Onion’s mock press release on MagnaSoles was meant to satirize marketers and the action they take to get consumers to purchase their product. By using diction, appealing to ethos, and adding imagery, the author shows how ridiculous most ads are.

What Factors lead to hyperinflations and what can be done to eliminate Essay

What Factors lead to hyperinflations and what can be done to eliminate them - Essay Example ral cause of hyperinflation may be described as follows – an unprecedented rise in money supply that is bereft of any growth in output or services creates a disparity between the demand and supply of money. This imbalance leads to a loss of confidence in the value of the money and finally, hyperinflation. The situation becomes such gruesome that any kind of legal tender laws, price controls, fail to return the confidence on the value of the paper money, which is without any intrinsic value to the consumer. If the government resorts to excessive printing of money and if it gets a friendly environment to foster inflation, hyperinflation keeps on sustaining and in a cumulative manner, erodes the economy day by day. The government in such case often fails to match the pace of its currency printing mechanism with that of the devaluating currency (the rate at which the currency is losing its value). (Hyperinflation: causes, cures†) The incident of hyperinflation is almost always associated with the paper form of money. This is because it is the simplest way to increase money supply. In most of the cases after experiencing hyperinflation, an economy reverts to hard money. An investigation into the basic causes of hyperinflation will offer more questions than answers. According to the monetarists and the classical economists, a hyperinflation is always led by irresponsible borrowing of money by the government in order to pay all of its expenses. The monetary and classical theory regarding the hyperinflation center on the untamed seignorage on behalf of the monetary authority and the gains they can reap off the inflation tax. The neo liberals, on the other hand, explain hyperinflation in terms of the confidence crisis. The neoliberal theory of hyperinflation is known as the quantity theory of hyperinflation. According to them loss of confidence of the mass on the capability of paper money to readily transform int o hard currency like gold, silver or other form of

Research Methods in Healthcare Essay Example | Topics and Well Written Essays - 1500 words

Research Methods in Healthcare - Essay Example For Polit and Beck (2004, p. 14), two important paradigm in research are positivism and naturalism. Ontologically, the positivist paradigm asserts that reality is objective and singular while the naturalistic paradigm holds that reality is multiple and subjectively constructed by an individual (Polit and Beck 2004, p. 14). Epistemologically, the positivist paradigm considers that the researcher is independent of its subject and, thus, findings are not influenced by researcher (Polit and Beck 2004, p. 14). In contrast, the naturalistic paradigm assumes that findings are product of the interactive process between the researcher and the researched (Polit and Beck 2004, p. 14). Axiologically, the positivist paradigm maintains that values and biases must be rejected in the interest of objectivity but, contradicting this, the naturalist paradigm hold that subjectivity is unavoidable (Polit and Beck 2004, p. 14). ... 18). Following Conger (1998), Bryman et al. (1988), and Alvesson (1996), Ospina (2004, p. 2) pointed out that there are at least three advantages in employing qualitative research. First, qualitative research designs are highly flexible as the research design can be modified in the course of research as unexpected situations unfold. Second, qualitative research is sensitive to contextual factors. Third, unlike quantitative research, qualitative research is more appropriate for symbolic dimensions and meanings. Hancock (2002, p. 2) pointed out that qualitative research is most appropriate for finding out the motives for behaviour, how opinions and attitudes are developed, how people are affected by events, and how social groups are different from each other. Hancock (2002, p.2) pointed out that qualitative research can concern itself with an elaborated description of the opinions, experiences, and feelings of individuals, something which quantitative research usually cannot do or can do so in a very limited way. There is an array of qualitative research techniques. Creswell (2007) focused on five: narrative, phenomenology, grounded theory, ethnography, and case study. Narrative studies involve the documentation and study of written or spoken texts (Cresswell 2007, p. 54). A narrative study can be an autobiography or a recording by the subject of the study (Cresswell 2007, p. 54). It can also be a biography which is a study in which a researcher writes and records the experience of another person (Cresswell 2007, p. 54). A narrative can also be life history when the narration portrays a person’s entire life (Cresswell 2007, p. 54). For healthcare studies, one possible use

Authentication Methods and Techniques Research Paper

Authentication Methods and Techniques - Research Paper Example In the simplest form of authentication, a person was authenticated by merely his/her physical appearance and voice as the authenticating party knew the person by face. As the person’s social circle increased, the need to be authenticated arose in environments where the person was unknown to the authenticating party. So the authentication method evolved and pictures were used in the authentication documents (such as passports, etc.). With time, the personal records and private information of a person increased not only in amount (as it became a requirement in schools, universities, offices, banks, airports, hospitals, ) but also in value (credit cards, debit cards, etc.). Means of authentication evolved significantly thereafter as with the availability of this information on public or private networks (e-banking, e-health, e-ticketing, e-commerce), the access points to this information also increased tremendously (on a public network the information is accessible to millions of Internet users all over the world). It was necessary that only the authorized personnel could access the information and so the authentication techniques relevant to the scenario and information worth would have to be brewed up. As the authentication methods progressed, so did the attacks aimed at stealing the private information (Mallow, n.d.). When an authentication method was compromised, an alternative strategy would be looked into for adapting to. This paper gives an overview of the various authentication methods that have been proposed in various applications and literature and have successfully been used for allowing controlled access to private information. The paper also discusses the vulnerability issues associated with each authentication method and assesses it against some important assessment factors. The paper also discusses how to decide the best authentication strategy while living amidst the sophisticated hackers’ realm. 2. Authentication Techniques and Meth ods As mentioned earlier, authentication involves providing a proof to the authority of one’s identity. The various authentication techniques can be listed down into three broad categories; proof by knowledge techniques, proof by property techniques and proof by possession techniques (Jensen, 2003; Cranor & Garfinkel 2005). All authentication methods can be placed into one of these three techniques. The available authentication techniques and methods can be assessed keeping into consideration the major factors of cost, ease of installation, level of authentication and the usability. In this section the various authentication methods alongside their assessment based on these factors is discussed. A. Authentication by Knowledge This category of authentication is based on the fact that only the actual person himself can know some particular information. Examples include text based passwords or Personal Identification Number (PIN) and the response challenges. a. Passwords / PINs Benefits: This type of authentication is the least expensive of all methods as no specific software or hardware is required to set it up. Furthermore, the method is so easy that the users can easily set up or even change the passwords

Brick and Mortar vs Based Businessess Term Paper

Brick and Mortar vs Based Businessess - Term Paper Example On the other hand, online business does not cost physical labor, though a businessman might have to spend some money initially purchasing licenses or getting his business registered as per the official requirements of trade. One needs to know and satisfy the legal ramifications of one’s online business before starting it (Elizabeth, 2010). Still, online business can be started immediately because it usually does not take long for initial online formalities to be met, whereas the traditional business costs much in terms of time, labor and money in the start. In traditional business, the staff required to do the work costs a businessman a lot. In addition to that, the businessman has to face overheads as office and serviceability charges, logistics, food and traveling expenses. On the other hand, an online business provides a businessman with the leverage that he can work from home. Although the businessman still might have to hire staff for organizing the work online, yet the overhead charges are significantly reduced. There are no traveling expenses, no utility bills except for internet or electricity bill and no food charges. It is indeed, irrational to count electricity charges here because computers and internet are also frequently made use of in traditional businesses. Brick and mortar businesses are far more expensive than online businesses because of overhead charges, insurance, taxes and other property charges (Kayne, 2010). Online business ensures effective communication. Communication and timely conveyance of instructions are vital for the success of a business. The electronic mail delivers instructions to the concerned immediately, and the sender does not have to incur any additional cost unlike traditional businessmen, who have to incur huge telephone bills and yet, the communication is hardly ever effective or meaningful. This drawback

Smoking and how to quit it Essay Example | Topics and Well Written Essays - 500 words

Smoking and how to quit it - Essay Example Part of quitting smoking successfully is to make the right preparations so you don’t have a relapse. The first action to quitting smoking is to set a quit date. This date should be long enough to give yourself time to mentally prepare yourself about quitting smoking, but should also be within a short period of time so you don’t keep procrastinating. The next thing you can do is change the environment that you live in. This is a big part of quitting smoking because our surroundings can remind us about when we used to smoke. Another thing to do is to remember previous times when you tried to quit and thing about what worked well and what did not (â€Å"5 Easy Steps to Quitting†). The final thing you can do in preparing to quit smoking can be not feel tempted to take another puff ever again, because this will bring back memories. The next step to quitting smoking is to find friends and family who will encourage you in your decision to quit. Studies have shown that y ou have a higher chance of success if you receive help (â€Å"5 Easy Steps to Quitting†).

Artistotle Rhetoric Essay Example | Topics and Well Written Essays - 250 words

Artistotle Rhetoric - Essay Example Hence, Aristotle’s approach of arguments is consistent concerning the use of emotional appeal. He explicitly elaborates that people’s perception of a speaker is a reflection of the appeal to their self-interest, inner sense of identity, and importantly their emotions Cognitive theory of the emotions that Aristotle based his arguments are frameworks that relate feelings with psychological status of individuals expressing them. Cognitive theories give all types of human emotions a genuine and noticeable cognitive thought. In relation to perceived appeal to the individual pathos, cognitive theories help to stamp notion that thoughts and other mental actions perform crucial roles in the development of emotions. Aristotle advances cognitive theory by illustrating the power of emotional appeal in arguments, speeches or personal relationships. Notably, Aristotle’s rhetoric’s emphasizes that pathos is a logical fallacy that can manipulate emotions and facilitate winning of an argument even in the absence of realistic evidence. In other words, emotion is structure of discourse. Thus, Aristotle further elaborates that human beings make decisions based on emotional aspects or appeals. Nonetheless, Aristotle’s theory of emotional appeal has some limitations. For instance, it addresses argumentative and non-argumentative implements of persuasion with considering conflicting perspectives. At some point, this theory outlines that argumentative technique becomes less effective because of worse condition of the audience. Thus, the theory fails to address emotional aspects of listeners

Response to Unprepared Essay Example for Free

Response to Unprepared Essay â€Å"Unprepared† Response Paper â€Å"Unprepared† by Jerry Groopman, tells the story of a patient whom Dr. Groopman encountered when he was still in Medical school. â€Å"Unprepared† refers to his own inexperience as a medical practitioner and the possible missteps he took in his interaction with this patient. The patient’s name was Esther Weinberg , a twenty-nine year old Orthodox Jewish woman. Upon learning of their shared faith, Ester confides in Groopman a shameful secret involving her own infidelity and her belief that her cancer is a punishment from God that has been visited on her because of her sins. The affair was an outgrowth of a loveless marriage and an unhappy life. Esther now feels bereft of all hope; she believes her cancer is deserved and because she has no hope of changing her circumstances she lacks the motivation to fight the disease. After undergoing surgery for the cancer she continues to vacillate between accepting treatment to extend her life and accepting the cancer as a death sentence the result of a â€Å"justice with stern †¦codes of conduct, that when violated†¦triggers retribution† .. (Groopman 10). In the end, she reluctantly and with some delay accepts the treatment prescribed by her doctors, but she loses the battle and dies. I used to be a very pessimistic person; no matter what the situation I would dwell on only the negative. My mother would say that my â€Å"cup was half empty† rather than half full. The spring of my Junior year in High School this all changed. It was my during my Junior year that I met Ashley. I remember the day I first saw her- a little blonde girl with a pink bow in her hair walking across the field towards my Lacrosse team clutching her mother’s hand. We had been told that her name was Ashley Jacobs, an adorable girl with brain cancer. She has been battling it her whole life and my coach thought it would be nice to â€Å"adopt† her as a member of our team. From the minute I met her, we had an instant bond and became very close. What I believe drew me to her so quickly was her positive outlook on life. Everyday she came to our Lacrosse practices, games, and dinners with a huge smile on her face. She was so happy and positive about life even though her prognosis was not good. We had all been told that the chances of her making it to high school were slim. All I could think about was how someone could be so happy and positive when her life consists of a daily struggle to stay alive. Still, she loved coming to our practices! If she felt up to it, she would be there. Every day during practice I’d look for Ashley’s little blond head with the pink bow in her hair as she ran across the field. When she wasn’t there I worried. I wondered if she was OK, if she would make it tomorrow. But then she’d come back, always the same happy, carefree little girl I had come to love. Although Ashley is a very hopeful and enthusiastic girl, she also had her low days. When she would get sick and have to go to the hospital, she was sad to miss school, a play date with friends, a lacrosse practice with us†¦Sometimes she would be weak and have to stay in bed for days. But Ashley never lacked company. Sometimes girls from the team and I would go over with cookies and crafts and spend time with her. Her family and friends would usually be there. We’d encourage her to keep fighting and remind her of all the fun things she would do when she got better. Her friends and family gave her hope; hope that if she listened to her doctors that one day she would get better and be able to live a full and happy life. Today Ashley is doing fantastic. She is happy and as healthy as can be. We still talk on the phone and although we don’t get to see each other as much, we are still very close. Reading â€Å"Unprepared† made me recognize the importance of having hope. Without hope for a better life the patient has no reason to battle the cancer. Ironically the only respite Esther found in her former life was the affair. It was the only thing that made her feel like she was not suffocating: â€Å"to be desired was enough for her to feel that she was not suffocating† (Groopman 6). She knew that without her breasts she would no longer be desired. There would be nothing left for her to go back to. Esther also had no support to encourage her to fight. Having to undergo side effects that accompany chemotherapy is awful enough but to have to battle the disease alone, without people to confide in and for support would be impossible. Esther didn’t even have the support of her children because they didn’t even know she was sick. â€Å"You see my life,’ Esther said. ‘Everything is hidden. Even what’s wrong with me can’t be spoken’† (Groopman 10). Esther had no support from her family because her family didn’t even know about the pain she was suffering. Also because Esther believed that the cancer was retribution from a righteous God, Esther â€Å"sees her cancer as some sort of divine judgment† (Groopman 11). Esther was without hope; without hope of recovery, without hope that could be given to her by a supportive family, and without hope of ever living a happy life. It’s sad that Esther didn’t have the support system Ashley did. At the end of the reading, Groopman states that â€Å"hope can flourish only when you believe that what you do can make a difference, that your actions can bring a future different from the present† (Groopman 13). Ashley and her friends and family possess a strong hope for a cure and a better day. A hope of a bright future for a remarkable little girl with a big smile and a positive attitude. I will always believe that the support Ashley receives helps her heal and to continue to be the healthy vibrant girl she is today. Ashley always reminds me to keep hope alive, and to try to remind myself to be positive, because hope for a better day is always possible.

Assignment On British Petroleum

Assignment On British Petroleum This Paper will concentrate on the organisation known as British oil typically referred to as British petroleum. This reason for this paper would be to examine and evaluate and analyse the present proper position of British petroleum inside the industry also once we proceed further we shall also consider the environment analysis, structural determinants from the concentration of your competition, structural analysis and competitive means of British petroleum, The entire paper continues to be split into three parts, simply one we consider the general analytical techniques like SWOT, PESTEL, suggested by M.E porter , latter simply two British petroleum is going to be analysed within the light of ansoff matrix and BCG matrix, and also the porters five forces, the ultimate part includes suggestions regarding the above mentioned analysis Introduction :- BP is among the worlds leading worldwide gas and oil companies, supplying its clients with fuel for transportation, energy for warmth and lightweight, retail services and petrochemicals items for everyday items http://world wide web.british petroleum.com/sectiongenericarticle.do?categoryId=3contentId=2006926 British oil well referred to as British petroleum is worlds major gas and oil company, it is among the the world third biggest company (source Wikipedia: http://en.wikipedia.org/wiki/British petroleum) its well know brand worldwide, as well as in business realm its much referred to as a corporation that has been positively taking part in vertical integration approach in each and every section of fuel industry, which includes excavation of oil and extraction and production refining distribution energy generation and buying and selling, lately British petroleum continues to be positively including in the introduction of alternative energy assets because it is thought through the finish of the century all of the mobile phone industrys reserves of conservative fuel deposits will vanish, however British petroleum has its own operation going through in 80 different nations and created roughly 4 million barrels of oil, Bps biggest maket share is within u . s . states mind quarted in Houston , the organization continues to be alleged for that threat of environment and safety concern following a recent spill in gulf, British petroleum may be the first company to understand the the long run interest in energy is anticipated to improve by 50% with within the next 2 decades as well as on the British petroleum website its mentioned the 85% from the energy demands is going to be met through the non-renewable fuels Medicare Part A:- British petroleum SWOT ANALYSIS: Talents: BPs History/brand:- British petroleum Among the mobile phone industrys well know brand that has been operating in the industry forever from the 1800s but formally referred to as Anglo- Iranian oil company , its history itself dictates its stability with in the industry, it includes a strong holds within the u . s . states market among the biggest consumer of gas and oil on the planet also Bigger producer within the Gulf:- As British petroleum is has its own strong root hold within the American market the organization features its own refining market and distribution channels thus it features a unique and formidable infrastructure, with the network of their subsidiaries making rivals daunting Geographically diverse organisation:- British petroleum continues to be operating in 80 different nations worldwide under different names like Amco, Burmah Castrol, British petroleum express, Arco, British petroleum connectAnd so on. British petroleum also indexed by NSE and FTSE and LSE. however British petroleum amco is among the most powerful brand among the rest of the brand that British petroleum works Leadership in oil related technology:- The oil related technology is understood to be Oil production related technology might help maintain revenue and profits by providing the controlling firm the opportunity to increase production on new oil fields. Superior technology also enables better usage of existing oil reserves from the production and refining capacity Source: (http://world wide web.wikiwealth.com/swot-strength:superior-oil-related-technology) using the definition above that British petroleum has acquired an aggressive edge among its other rivalries in growing producing new oil fields Concentrate on Conventional oil :- On february 2007 the organization has introduced it might be investing 8 billion dollars within the next 10 years within the research of numerous alternative techniques to search the conventional energy resources source (http://en.wikipedia.org/wiki/British petroleum#History) British petroleum has over checked out the fuel crisis thats likely to arise in in the future therefore it has transformed its logo design to Helios as one example of it corporate social responsibility thus by attaining the client confidence around the brand, this campaign had been based on slogan known as BP beyond petroleum Michael. E. Porter emerging industries are recently created or cool industries which have been produced by technological improvements, that elevate something new or service to the stage of potential viable of innovations pg 215 . Thus based on M. E porter using unconventional energy is definitely an emerging market where British petroleum makes extensive efforts to achieve the edge against your competitors. Also we will be talking about the likely methods that British petroleum can consider , once we proceed in to the next parts of this paper Weakness:- Negative consumer perception:- Though British petroleum continues to be striving difficult to position British petroleum like a environmentally friendly brand, the current occurrences has put British petroleum customers on dilemma concerning the brand positioning, because of recent spills in Alaska and gulf, also British petroleum has elevated it gas prices in in comparison to the rivals Unstable Oil industry:- Industries for example oil are in the stake because of their availability later on , however oil market is higly lucrative , additionally, it suffers unpredictability which decreases ale opportunities in the traders Possibilities:- Energy independence: since 8 billion dollars continues to be invested into research of conventional powers and alternative fuel techniques, you will see more possibilities developing within the fields of photo voltaic wind and gas energy Growth of areas:- British petroleum can consider growth of its edges to appropriate oil reserves and through purchase of gas and oil industries within the north ocean along with other areas globally Prices and quality:- British petroleum may also reconsider by flexing its prices policy to be able to answer the challenging competition, supported by very same top quality of fuel Risks:- Instability:- Many BPs oils creating regions are facing with unstable government making business much more volatile Oil Spill:- British petroleum continues to be alleged to be undertaking environment hazard activities in oil excavation following a spills in Alaska and Mexico, too a some periodic fire accidents within the British petroleum oil rigs, corrosion within the oil pipe lines can also be appearing a significant threat to the organization Saturation of assets:- Natural saturation of assets within the oil wells could be another major threat towards the companys existence PESTEL Analysis :- M. E Porter has recommended a frame work known as pestel analysis in understainding the forces within the macro atmosphere G. Schools and Remedy states that understanding how PESTEL factors might effect on and drive alternation in general is a great beginning point pg 66 The word PESTEL means political , economical social technological environmental and legal these forces have affect on the organisational exterior atmosphere POLITICAL à ¢Ã¢â€š ¬Ã‚ ¢ As talked about above because of unstable government authorities within the BPs production nations the mobile phone industrys energy marketplaces are becoming more volatile à ¢Ã¢â€š ¬Ã‚ ¢ Due to climatic change issues and weather disturbances government authorities are coming up with a powerful obstacles on oil excavations, besides encouraging such industries into discover more sustainable types of energy à ¢Ã¢â€š ¬Ã‚ ¢ On whole the worldwide energy marketplace is increasingly volatile because of ongoing oil demands in the under developed nations ECONOMIC à ¢Ã¢â€š ¬Ã‚ ¢ The economy is based on the power reserves for the reason that country à ¢Ã¢â€š ¬Ã‚ ¢ The interest rate of worldwide economic recovery supports the answer to energy prospect to next several years (IEA. 2010 details sheet ) à ¢Ã¢â€š ¬Ã‚ ¢ Energy marketplaces can envisage demand increase by nearly 60 % based on IEA à ¢Ã¢â€š ¬Ã‚ ¢ Due substantial increace within the alternative powers supply are required to develop within the next couple of decades quickly SOCIAL à ¢Ã¢â€š ¬Ã‚ ¢ Based on the Kyoto protocol, charge of the CF(swimming pool water fluorine) carbon pollutants has turned into a legal requirement à ¢Ã¢â€š ¬Ã‚ ¢ More attention continues to be attracted for the concerns on sustainability for the future though this might appear just a little impact right now because of unavailability of manufacture of cheaper types of renewable power for example photo voltaic and wind energy TECHNOLOGY à ¢Ã¢â€š ¬Ã‚ ¢ This pressure is probably appears to become a significant driver of alternation in the worldwide energy market because it is being underpinned with a technological developments of manufacture of economical methods for renewable power Part 2:- The Ansoff Matrix :- the ansoff matrix is really a 22 matrix with items market mix for existing and new marketplaces , it was initially suggested by H. Igor Ansoff, its a growth marketplaces matrix helps the organisation to consider its proper decision it may also help us to analyse how British petroleum has varied itself from British oil to beyond oil http://tutor2u.internet/business/strategy/ansoff_matrix.htm Existing product Cool product Existing market Market transmission This requires British petroleum stretching its physical frontiers, more retail shops, direct distribution etc Product Bio-fuels which are created inside a sustainable way, and solar power wind energy etc New market Market development Marketing and advertising flexing the prices policy in United kingdom and obtaining person possessed retail shops in prime locations Diversification Neat and renewable solar power for houses, streets and companies Use of ansoff matrix to the current organization:- Market transmission:- British petroleum includes a obvious and focused strategy in market penentration using its varied items for every single market segment like houses business as well as varied items like lubrication motor oils etc can also be found to aid its deliberate strategy into market transmission Product:- this tactic is better applied whenever a particular service or product is within maturity or perhaps a decline stage however because of global environment fuel crisis it is essential to search for any new energy assets, however this proper approach give an edge against your competitors towards the organisation like bio fuel through sustainable sources, thus British petroleum has switched its marketing tag from British oil to beyond oil IEA 2004, also predicted the future energy supply is going to be from renewable assets Market development:- British petroleum continues to be strongly and readily using the forex market strategy, because it is presently operating in 80 different nations, also as part of further market development, British petroleum hold its very own distribution channels besides getting dealer distribution channels, lately in India, British petroleum has specific a brand new demographic group ie., CNG( compressed gas) for domestic reasons, By which British petroleum has acquired a substantial share of the market. However, still theres a lots of space to develop in this region by growing more into Africa and Russia and Europe Diversification: Although diversification is definitely an very dangerous strategy, to secure BPs future British petroleum has invested 8 billion dollars in the introduction of economical methods to produce renewable and alternative powers, as you will find some speculations that solar power is going to be utilized more by 50% than its present usage (data monitor 2004). To be able to gain knowledge of this sector of ones production british petroleum has invested this type of great deal, to restore its deficits because of recent oil spills. British petroleum has acknowledged the significance of diversification strategy, when the expertise is acquired then its really a market leader by selecting emerging industry marketplaces entry methods BCG Matrix : Cash Cows British oil includes a large share of the market in gas and oil industry using its wings extended in 80 different nations, however, these SBU are rich in share of the market with less room for that growth because it is an adult market, these SBU have to be handled well with right technique to keep up with the profits STARS: British petroleum is presently well-established in many of their operating nations however, theres still room to develop to stars because it the 4th biggest when it comes to revenue making then royal Nederlander and Exxon Mobil (cnn, 2010) (http://money.cnn.com/magazines/fortune/global500/2010/full_list/) QUESTIONMARKS: British petroleum is attempting to head to new marketplaces by trading into sustainable and alternative energy assets, because it has small be part of high growth market because it is predicted that marketplace for these renewable powers were prone to rise quickly Also BPs CNG items could be another question mark because it has high growth which may be changed by gas within the developed nations DOGS: British petroleum business could be effected by electrification of rail transport within the under developed nations, Wherever British petroleum is working in. Because of the marketplace for delivering diesel to locomotives are in the dogs condition, since it has relatively low growth and small share, which market might sooner vanish. However British petroleum can continue this present SBU, because it cannot modify the other SBUs British petroleum includes a stable share of the market inside a unstable market, regardless of the facing accusations from recent gulf disaster Part 3:- Recommendations for British petroleum because of its entry into emerging energy industry:- Michael. E. porter (1980) recommended a few of the common early obstacles like à ¢Ã¢â€š ¬Ã‚ ¢ Proprietary technology à ¢Ã¢â€š ¬Ã‚ ¢ Access to recycleables along with other inputs à ¢Ã¢â€š ¬Ã‚ ¢ Risk, which boosts the effective chance price of capital there by effective capital obstacles Proprietary technology:- British petroleum may be the first company to recognize the necessity to invest into growth and development of new methods to produce energy its invested 8 billion dollars to build up and posses the brand new technologies being produced of wind and solar power Use of recycleables along with other inputs:- Although the inclination of the particular barrier may not appear appropriate to BPs manufacture of wind and solar power because they are freely and abundantly obtainable in character however British petroleum still can gain competitive advantage by arranging the copy privileges from the technology thats being/is going to be accustomed to convert the choice assets into energy. Thus producing revenue Risk:- Typically established information mill frequently not the first one to maintain the brand new emerging industry due ot technological advancement even getting the abilty and apparent talents , but climb this guitar rock band wagon latter, and attempts to establish by placing high greater chance cost, within this situation British petroleum has some relatively apparent talents like understanding from the clients and brand strength, so its advisable that British petroleum still press by trading into research of other fuels PORTER FIVE FORCES Brendan Examining the competitive atmosphere 5 Forces Framework of Industry Analysis British petroleum: An analysis while using Five Forces Framework Industry Competition British Oil (British petroleum) works within the energy industry. You will find only a small amount of firms inside the energy industry. It is really an oligopoly market you will find a small amount of producers taking pleasure in a sizable share of the market. The oligopoly market structure is really a fundamental driver of BPs profit increasing operation. British petroleum and it is rivals can make abnormal profits because of the marketplace structure that they compete. Theres mutual interdependence between companies within an oligopolistic market structure. BPs primary rivals are Exxon Mobile, Total SA, Chevron, ConocoPhillips and Royal Nederlander Spend. British petroleum can make abnormal profits like the method in which monopolist operate. A strong like British petroleum might not be fully efficient nonetheless they remain in a position to survive because of high obstacles to entry within an oligopoly market. Bain (1956) referred to obstacles to entry as factors which permit established firms within an industry to earn supernormal profits without bringing in entry. An oligopoly structure is characterised by high interdependence between rivals. The choices of British petroleum are heavily based on the choices of the rivals. Just how does British petroleum remain competitive on the market when they cannot take market leadership? Area of the answer lies using the dependency of competitor choices as well as an lack of ability to consider an expense leadership strategy. The possibility of taking this kind of strategy could induce a cost war and lower profits. If BPs rivals decrease fuel prices then British petroleum will most likely lower their cost to prevent losing clients. If however a strong decides to boost prices then its rivals is going to be unwilling to follow. For this reason costs are regarded as sticky as prices are usually resistant against change. Sticky cost levels could be described with a kinked demand curve produced by Hall and Hitch and Sweezy (1939), proven in figure 1.1. The kink reaches cost P. Any rise in cost above P can lead to a far more than proportionate fall in quantity required as customers tends to buy using their company firms who havent elevated their cost. Over the cost P the cost elasticity demand is greater and much more elastic. Home loan business cost below P demand becomes inelastic and fewer prone to a big change sought after. Because of the tight oligopoly market British petroleum compete inside it seems that British petroleum they may be colluding using their rivals on prices. The items they offer are extremely homogenous, the cost elasticity of demand is low and you will find high obstacles to entry, creating ideal conditions for collusion. Oligopolists are circular dependent (Lipczynski and Wilson 2001). How much transparency regarding cost is high, which allows British petroleum and it is rivals to consistently match the cost of the leading member. Scherer 1996 describes this as collusive cost leadership. By colluding on prices youll be able to earn abnormal profits. The best choice functions like a barometer, whose cost bulletins reflect market demand and supply conditions (Scherer 1996). I (an oligopolist) cannot define my favorite guidelines unless of course I understand You (my rival) are performing at the same time, however, you cant define your very best move unless of course guess what happens Ill do (Asch 1964, p.54). Threat of recent newcomers The mining, gas and oil industry is among the most lucrative. The Worldwide 500 ranks British petroleum the fourth most lucrative. Why exist only numerous firms within the energy industry taking pleasure in abnormal profits and total share of the market? Generating high profits generally draws in new newcomers, however new newcomers can experience obstacles to entry preventing them from entering the marketplace. You will find no obstacles to entry in perfect competition marketplaces, new firms can set-up and then leave with relative ease. Its not as basic for brand new firms to create-in an oligopolistic market. You will find several obstacles to entry stopping firms from doing this. Bain describes obstacles to entry as factors which permit established firms within an industry to earn supernormal profits without bringing in entry. Among the biggest obstacles to entry for brand new firms may be the great deal of capital needed to create-up in the market highlighted by figure 1.2. The price to a different firm could be much greater compared to average costs of existing firms. Another barrier to entry is BPs up and down integrated structure. Theyre involved completely across the logistics, from finding oil deposits, drilling and removing crude, refining into oil items, disbursing and selling at British petroleum possessed retail store franchisees, further denying use of new newcomers. They could make profits across the logistics, known as upstream and downstream profits. Vertical integration exclusions could be categorised as limited practice, for example limit prices cost methods (Lipczynski and Wilson 2001). Financial systems of scale prevent new newcomers attaining access in to the market. British petroleum is definitely an established, global organisation in the market which in a position to source, extract, refine and distribute oil in a reduced cost in comparison having a small start-up firm establishing on your own. At greater amounts of output a vertical integrated firm for example British petroleum can specialize in factors of production within the entire product existence cycle, in the exploration and extraction of oil (upstream) to distribution refining and selling gas (downstream) to customers through many that belongs to them retail shops. Trade obstacles are reduced the fuel retail market. In the beginning approximation fuel merchants seem to fall under the monopolistic competition category Scherer (1996). However, its important for merchants to know those things of the rivals. Machlup describes fuel merchants inside a neighborhood as chain oligopolists. Gas is definitely an inelastic good, a sizable alternation in cost wont change quantity required. To be able to lessen the uncertainty with prices, fuel merchants collude on prices. This can help these to gain the very best profit and might help to avoid one merchants missing out. For instance, imagine you will find two merchants A and B on opposite side from the road. If Your drops its fuel cost, B will loose out if he doesnt mirror the cost of the. Selling fuel in the lower cost can lead to both A and B making less profit. By colluding on the set cost, its possible for A and B not to loose out. This really is known as duopoly tacit collusion and is comparable to Cournots type of oligopoly. Theres however, the temptation for just one firm to interrupt the guidelines, or cheat by lowering cost underneath the agreed level to be able to gain competitive edge on rivals, which can lead to a cost war. The threat of recent entry appears within the oil market appears unlikely for the short term. You will find a number of very large oil and companies who dominate the which take advantage of financial systems of scale, vertical integration and incredibly high obstacles to entry. The resembles a monopoly as rivals co-operate to savor monopoly style profits, further restricting new newcomers. Possibly the threat of recent newcomers may promote themselves with the introduction of new fuel technologies as gradual fossil fuel demand declines. With ever growing pressure from government and pressure groups, combined using the depletion of world oil reserves, eventually you will see a change from oil consumption as supplies go out and new fuel options be a more appealing. Figure 1.4 shows the extraction of oil once we transfer to the long term. The cost will rise progressively with time as supply dries up. Conscious of this issue, British petroleum in 2007 selected the College of California, Berkley to guide a $500 million energy research programme. The programme will build up new sustainable technologies for British petroleum. By diversifying British petroleum continues to some primary player in the market getting into the long term. British petroleum has additionally pledged to take a position another 500 million over ten years to finance bioscience research programmes for br and new and cleaner energy development. Threat of substitute items Oil is really a scarce commodity thats greatly sought after. The planet is dependent on oil and presently you will find very few viable substitutes for oil presently available. With large nations for example India and china quickly growing the issue will simply worsen. The present options for fuels include coal, LPG (Liquid Oil Gas) both non-renewable fuels and hydrogen (which requires using fuel to create). Beyond these options theres wind energy, photo voltaic energy, geothermal power energy and nuclear energy. British petroleum Most of the substitutes for oil for example LPG already are written by British petroleum. British petroleum appear ready for just about any potential risks from potential innovative firms entering the marketplace, partially because British petroleum have considerable amounts of investment already in research and development. Negotiating energy of purchasers and providers Customers buy oil items from British petroleum possessed fuel merchants. The merchants purchase their fuel from British petroleum, who extract and refine crude from the 3 that belongs to them locations around the world. Effectively British petroleum doesnt have providers, because they supply themselves, even though they are subject to the marketplace cost of oil. The cost oil is dependent upon the availability of oil, mainly in the cartel of OPEC the worlds 13 biggest oil creating groups. By being employed as a cartel the oil creating nations (who depend heavily on oil revenues), can manipulate the cost of oil by growing or lowering the availability of oil. British petroleum needs to market oil to the merchants in the market cost which is passed onto customers. The cost of oil affects the entire logistics. British petroleum along with other rivals make bigger profits once the cost oil is high, once the cost of oil falls, generally customers take advantage of affordable prices in the pump and oil producers make more compact profits or even manages to lose. Figure 1.5 demonstrates an increase in prices when supply is fixed by oil providers. The negotiating energy of customers as purchasers is extremely limited. Theyre subject to the chain oligopolist merchants who collude on prices, following barometric cost level based on the marketplace cost leader. Although British petroleum is really a large firm theyre small in comparison to large oil creating nations for example Saudi Arabia. Principle nations for example Saudi Arabia are capable of take dominant firm cost leadership. They could do that by working together using the OPEC cartel modifying output levels to help keep prices high. This really is known as joint profit maximisation, although there might be a inclination for nations inside the cartel to cheat or increase output to be able to earn more money. The cartel prices strategy is effective if all gamers stay with the guidelines and offer the correct amount agreed through the cartel. This really is highlighted by figure 1.6. The cartel enjoy cost PCartel in the quantity QCartel. If your player decides to cheat and convey more oil he is able to privately sell more oil at quantity QCheat and also at a lower cost PCheat. Nations smashing the rules may pull it off for some time, however eventually the marketplace will react to the additional output and a decrease in the cost of oil will result. Government The function of presidency plays a huge role to managing the quantity of profits caused by sales of oil. Windfall taxes were created by the work government in 1997 on utility and companies for example British petroleum so that they can lessen the development of the lately privatised industry (BBC News [online] 31 The month of january 2008). Throughout 2007 the cost of the barrel of oil arrived at $147. Companies for example British petroleum recorded a 6% increase in profits. Unions known as for any windfall tax on British petroleum along with other producers. British petroleum contended they are already one from the biggest taxpayers (BBC News [online] 29 This summer 2008). British petroleum also contended the cost of oil is occur the relatively free market. Others state that even OPEC can perform little concerning the control on oil prices any longer. Restrictions while using Porters Five Framework You will find many exterior forces affecting the competition inside a market. Competition varies in various marketplaces. Porters Five Forces model helps organisations understand industry structure and shapes the competition that is a result of competing in various structures. Its important for firms to fully understand market structure that they operate (Worthington et al 2001). An analysis of British petroleum while using five forces framework presents numerous problems. The model doesnt think about the macroeconomic atmosphere, especially as British petroleum is really a global player. Political and legalities have to be considered. Whats the current legislation concerning cartels, monopolies and move rules? Similarly economic and technological changes are important for an organization for example British petroleum, always searching toward the long-term. An excellent illustration of financial aspects factors affecting British petroleum may be the current economic recession that ha s drastically reduced the interest in oil and company profits. Even though the oil industry presently seems to become a relatively stable for profitability, theres without doubt that eventually you will see a change from oil. Jergin identifies a big change will come by means of a significant technological breakthrough in alternate wind turbine or possibly from an environment crisis, diminishing oils importance. In either case Porters framework does not identify a few of these key issues. If used properly the model may be used perfectly, although if use wrongly, without thinking about underlying forces, then it may be meaningless. British petroleum, a hundred years-old global gas and oil company has experienced numerous major problems recently. Evaluation from the business structure and company culture at British petroleum clearly determines its significant responsibility like a cause of these problems. Presently British petroleum reaches the purpose of no return. Aggressive action through the board of British petroleum in structure

The Benefits of Medical Marijuana Essay -- Pro Marijuana Legalization

INTRODUCTION Marijuana, also known as weed, hemp, cannabis, pot, herb, grass, etc., is the most common illegal drug in the United States. Marijuana is also known to be a gateway drug because it can lead people to do more serious drugs. Marijuana is a dried plant often smoked like a cigarette or in a bong or pipe. A common argument today is why marijuana should be legalized for medicinal purposes. Although some will claim marijuana should not be legalized for medicinal purposes because it has harmful effects and is a gateway drug, I feel that it should be legalized. Marijuana should be legalized for medicinal purposes because it has many positive effects on diseases and health conditions. Marijuana should also be legalized for medicinal purposes because it is safer and less toxic than many other drugs that physicians are prescribing every day. For over 10,000 years, the marijuana plant has been used by humans. Marshall (2005) stated, â€Å"The first record of human consumption of marijuana for medicinal or recreational purposes dates back to 2737 B.C., when the Chinese emperor Shen Neng recorded the use of cannabis to treat gout, malaria, beriberi, rheumatism and poor memory.† (p.136). In India, marijuana was being used for medicinal purposes by 1500 B.C., in Greece by 70 A.D., and by the early 1500’s in Europe. (Marshall, 2005, p.136). Over centuries, it continued to grow around the world as people used it for different reasons. Seppa (2010) reported that today medicinal marijuana is legally used to treat different medical conditions in fourteen states in the United States. This requires some paper work and a recommendation from a doctor stating the medicinal purpose of the marijuana. If the patient does not w... ...ription and OTC drugs. Retrieved August 15, 2010, from http://blog.marijuanamedicine.com/?p=50 Marshall, P. (2005, February 11). Marijuana laws. CQ Researcher, 15, 125-148. Retrieved July 30, 2010, from CQ Researcher Online. http://library.cqpress.com/cqresearcher/cqresrre2005021100. Seppa, N. (2010, June 19). Not just a high: Scientists test medicinal marijuana against MS, inflammation and cancer. Science News, 177 (13), p. 16(5). Retrieved July 30, 2010, from Academic OneFile via Gale. University of California - San Diego (2007, October 25). Smoked cannabis proven effective in treating neuropathic pain. ScienceDaily. Retrieved August 15, 2010, from http://www.sciencedaily.com/releases/2007/10/071024141745.htm Wilson, C. (2005). Miracle weed. New Scientist, 185, 38-41. Retrieved July 30, 2010, from OmniFile Full Text Select database.

Adolf Hitler :: essays research papers

Adolf Hitler Adolf Hitler was born on April 20,1889. This was the beginning with horrible plans for power and control of other people.Some of the things that Hitler did throughout his life were very cruel things; first of all, he was a man who loved war and fighting. Second, he was in charge of putting all of the innocent Jews into Concentration Camps and killing them. Third, he wanted one dominate race of all the same kind of people. Fourth, he had a life long obsession with danger. Fifth, he blamed the Jews for the war debt and sentenced them all to die. So as you can see already Hitler was a very cruel person.   Ã‚  Ã‚  Ã‚  Ã‚   The fact that he wanted one dominate race was unbelievably true. First of all, the fact he would kill everyone one way or another that didn’t have blond hair and blue eye and was of German descent, was a frightening fact. The idea of this gives me quite a scare my self, because I have brown hair, and brown eyes and would I have been killed just because I did not Hitlers physical standards. Also Hitler himself did not have blond hair and blue eyes. Next, I don’t think that you should judge anyone by the way they look or what they do; that is very wrong. Hitler’s idea of one dominate race was a very bad one.   Ã‚  Ã‚  Ã‚  Ã‚  Adolf Hitler was born in an Austrian town known as Braunau am Inn. Hitler was the son of a man named Alois. Alois Hitler’s father was a Custom official’s, and his mother was named Klara. Alois was illegitimate, first of all he used his mother’s name, Schicklgruber until 1876, when he adopted the name Hitler. Adolf’s father was very strict with him, and ignored him most of the time because Adolf liked to dream. As you can see Adolf did not idealize his father very much, and his death in 1903 actually came as a relief to Adolf. Adolf really idealized his mother, whose death in 1907 had a traumatic effect on him. So as you can see Adolf lead a very mixed up childhood.   Ã‚  Ã‚  Ã‚  Ã‚  As Hitler grew up, he failed as a student in the classical secondary schools. This led Hitler to new opportunities, for instance his desire to become an artist. Adolf tried to pursue this dream but, was unable to attain admission to the Academy of Fine Arts. Since he was unable to do anything, he lead a shadowy, alienated existence in multicultural Vienna until 1913. Hitler was described as living his life in melancholy, aimlessness, and racial hatred.

Essay --

When asked about a certain food, the first thing that might come to mind is the taste, the look, or the texture. What does not come to mind is the ingredients that make the food for what it is. Today, many food items contain the ingredient high fructose corn syrup. While some people may cringe when they hear those words, others will explain the true meaning behind HFCS. Based on several articles, the truth of the matter is that high fructose corn syrup is just another replacement for sugar. There is no sufficient evidence proving that HFCS is worse than sugar, however that does not mean it is better for you either. HFCS is just as bad as sugar, meaning that there is no large effect on the body compared to sugar, but they both do have side effects if over consumed. When comparing and contrasting high fructose corn syrup with sugar, the similarities outweigh the differences. For instance, in the â€Å"myth vs facts† article it claims that HFCS is the same as sugar when it comes to the number of calories, composition and absorption in the human body. In addition, when it comes to sweetne...

The Battle of Gettysburg

The Battle of Gettysburg (local i/ t? sb? r? /, with an /s/ sound),[6] was fought July 1–3, 1863, in and around the town of Gettysburg, Pennsylvania. It was the battle with the largest number of casualties in the American Civil War[7] and is often described as the war's turning point. [8] Union Maj. Gen. George Gordon Meade's Army of the Potomac defeated attacks by Confederate Gen. Robert E. Lee's Army of Northern Virginia, ending Lee's invasion of the North.After his success at Chancellorsville in Virginia in May 1863, Lee led his army through the Shenandoah Valley to begin his second invasion of the North—the Gettysburg Campaign. With his army in high spirits, Lee intended to shift the focus of the summer campaign from war-ravaged northern Virginia and hoped to influence Northern politicians to give up their prosecution of the war by penetrating as far as Harrisburg, Pennsylvania, or even Philadelphia. Prodded by President Abraham Lincoln, Maj.Gen. Joseph Hooker moved his army in pursuit, but was relieved just three days before the battle and replaced by Meade. Elements of the two armies initially collided at Gettysburg on July 1, 1863, as Lee urgently concentrated his forces there, his objective being to engage the Union army and destroy it. Low ridges to the northwest of town were defended initially by a Union cavalry division under Brig. Gen. John Buford, and soon reinforced with two corps of Union infantry.However, two large Confederate corps assaulted them from the northwest and north, collapsing the hastily developed Union lines, sending the defenders retreating through the streets of town to the hills just to the south. On the second day of battle, most of both armies had assembled. The Union line was laid out in a defensive formation resembling a fishhook. In the late afternoon of July 2, Lee launched a heavy assault on the Union left flank, and fierce fighting raged at Little Round Top, the Wheatfield, Devil's Den, and the Peach Orchard .On the Union right, demonstrations escalated into full-scale assaults on Culp's Hill and Cemetery Hill. All across the battlefield, despite significant losses, the Union defenders held their lines. On the third day of battle, July 3, fighting resumed on Culp's Hill, and cavalry battles raged to the east and south, but the main event was a dramatic infantry assault by 12,500 Confederates against the center of the Union line on Cemetery Ridge, known as Pickett's Charge.The charge was repulsed by Union rifle and artillery fire, at great losses to the Confederate army. Lee led his army on a torturous retreat back to Virginia. Between 46,000 and 51,000 soldiers from both armies were casualties in the three-day battle. That November, President Lincoln used the dedication ceremony for the Gettysburg National Cemetery to honor the fallen Union soldiers and redefine the purpose of the war in his historic Gettysburg Address. The Battle of Gettysburg The Battle of Gettysburg (local i/ t? sb? r? /, with an /s/ sound),[6] was fought July 1–3, 1863, in and around the town of Gettysburg, Pennsylvania. It was the battle with the largest number of casualties in the American Civil War[7] and is often described as the war's turning point. [8] Union Maj. Gen. George Gordon Meade's Army of the Potomac defeated attacks by Confederate Gen. Robert E. Lee's Army of Northern Virginia, ending Lee's invasion of the North.After his success at Chancellorsville in Virginia in May 1863, Lee led his army through the Shenandoah Valley to begin his second invasion of the North—the Gettysburg Campaign. With his army in high spirits, Lee intended to shift the focus of the summer campaign from war-ravaged northern Virginia and hoped to influence Northern politicians to give up their prosecution of the war by penetrating as far as Harrisburg, Pennsylvania, or even Philadelphia. Prodded by President Abraham Lincoln, Maj.Gen. Joseph Hooker moved his army in pursuit, but was relieved just three days before the battle and replaced by Meade. Elements of the two armies initially collided at Gettysburg on July 1, 1863, as Lee urgently concentrated his forces there, his objective being to engage the Union army and destroy it. Low ridges to the northwest of town were defended initially by a Union cavalry division under Brig. Gen. John Buford, and soon reinforced with two corps of Union infantry.However, two large Confederate corps assaulted them from the northwest and north, collapsing the hastily developed Union lines, sending the defenders retreating through the streets of town to the hills just to the south. On the second day of battle, most of both armies had assembled. The Union line was laid out in a defensive formation resembling a fishhook. In the late afternoon of July 2, Lee launched a heavy assault on the Union left flank, and fierce fighting raged at Little Round Top, the Wheatfield, Devil's Den, and the Peach Orchard .On the Union right, demonstrations escalated into full-scale assaults on Culp's Hill and Cemetery Hill. All across the battlefield, despite significant losses, the Union defenders held their lines. On the third day of battle, July 3, fighting resumed on Culp's Hill, and cavalry battles raged to the east and south, but the main event was a dramatic infantry assault by 12,500 Confederates against the center of the Union line on Cemetery Ridge, known as Pickett's Charge.The charge was repulsed by Union rifle and artillery fire, at great losses to the Confederate army. Lee led his army on a torturous retreat back to Virginia. Between 46,000 and 51,000 soldiers from both armies were casualties in the three-day battle. That November, President Lincoln used the dedication ceremony for the Gettysburg National Cemetery to honor the fallen Union soldiers and redefine the purpose of the war in his historic Gettysburg Address.

Hamlet †Ghost’s Speech †Act 1 Essay

In the beginning of the play, the reader is introduced to the disorder in Denmark, a prevalent motif. The mysterious death of the king spurred the disorder, and the prospect of revenge was magnified by the supposed appearance of the late King Hamlet’s ghost. The ghost’s appearance and subsequent speech intensify the disorder by validating the reader’s suspicion of Claudius as a murderer and an incestuous, adulterous serpent. Hamlet is torn by this revelation, and responds with justified drama. Thus far Hamlet had a few reasons to hate Claudius; the ghost’s message emboldened everything he had suspected and even added to it. Previously in Act One, Hamlet had criticized Claudius for a few major grievances: for being opportunist upon the death of his father by marrying his newly widowed mother in order to seize the throne instead of Hamlet, for not properly mourning the king by waiting just a month to take his wife, and for acting like an animal by behaving in an incestuous and lustful manner. By playing on many of the same metaphors as Hamlet and bringing forth new claims too, the ghost- whose word the reader takes as truth- bolsters Hamlet’s claims. In the ghost’s rhetoric, Claudius is an unnatural, murderous â€Å"serpent†.(sc. 5 ln. 43) As a â€Å"fat weed,† his parasitic nature is apparent and matches Hamlet’s assessment of the situation as an â€Å"unweeded garden.† (sc. 5 ln. 39) (sc. 2 ln. 139) Later, the ghost goes on to describe â€Å"lewdness† courting â€Å"virtue† in Claudius’ despicable new relationship.(sc. 5 ln. 60-1) To Hamlet and the ghost, the new union is an embodiment of evil though it holds an honorable, royal position. The royal bed is now a couch for luxury and incest. (sc 5. ln.89-90) The queen has been corrupted by â€Å"wicked wit and gifts† and succumbed by what almost sounds like magic. (sc. 5 ln. 51) This too plays on the motif of unnatural existence in â€Å"Hamlet† as exemplified by the ghost. The ghost refers to public opinion as â€Å"the ear of Denmark.† (sc.5 ln.43) By misleading this one representative ear, the entire country has been misled.  The ghost then furthers the ear imagery by describing how he was personally poisoned through his ear. This deception perpetrated by the current king adds to the sense of unrest. The late Hamlet was â€Å"sleeping within (his) orchard,† an emphatically innocent action, as the juice was poured into his ear and coursed through his body like quicksilver. (sc. 5 ln. 66) The poison â€Å"tetter(ed)†¦about†¦with vile and loathsome crust.† (sc. 5 ln.78-79) This vivid and gory description adds to the sense of decay and discord. As Marcellus put it, â€Å"something is rotten in the state of Denmark.† (sc.4 ln. 100) Then the ghost talks about how that napping time was his â€Å"secure hour.† (sc.5 ln. 68) This describes the feeling of routine that once existed in the kingdom. Now time is cursed and nothing is happens in a proper time because of Claudius’ unnatural murder. The senses of touch and sight are very important in this speech. The ghost carefully describes how things looked and felt to actualize his feelings to Hamlet and the reader. When describing the queen, he uses a prickly set of descriptive words. She isn’t just part of a cursed union, she has â€Å"thorns that in her bosom lodge to prick and sting her,† by some heavenly will. (sc, 5 ln. 94-5) Additionally, the description of the poisoning is graphic to make it personal and real for Hamlet.

King Sahure and A Nome God & Demedji and Hennutsen Comparative Analysis Essay

Throughout past histories we’ve witnessed different forms of art and sculptures from different time periods. These changes occur for many different reasons and give historians a taste of what life was like people growing up in these times. King Sahure and A Nome God and Demedji and Hennutsen were both two sculptures created in the same time period. These two show the similarities and differences of life between their time period. Both statues at first glance have a similar appearance to them. King Sahure and A Nome God features the King Sahure, the second ruler of dynasty five. It was sculpted between 2458-2466 B.C. Next to King Sahure is a smaller figure labeled as the god of the Coptite provence of Upper Egypt.[1] At first glance this sculpture can be described as having a monumental scale, with a height of about 25 inches. The god coptite is shown reaching his hand out towards King Sahure, signifying the gods acceptance of King Sahure. The figures are considered high relief, in that they are protruding from the background. [2] The whole statues make is rough, an indicator of Ancient Egyptian Art. Demedji and Hennutsen was constructed during the fifth dynasty between 2465-2438 B.C. Like King Sahure and A Nome God, it shows two figures, husband and wife. Demedji was known as Overseer of the Desert, and his wife Hennutsen was known as the priestess of the goddesses Hator and Neith. [3]The husband sitting down looks massive in structure. He is wearing what appears to be a helmet, covering his head. He is sitting on a large stone, inscribed with hieroglyphics. His wife standing along side him is much smaller in statue. She, also has a headdress covering her head. The statue is in the round and has a monumental scale like King Sahure and A Nome God. The statue itself is only around 32 inches tall. The sculpture is a lot more rounded and smoother than the previous sculpture. Carved out of limestone, it shows a light beige tint. Something that really stuck out at me was the precision of space between the husbands arm and body. The bodies are sculpted with a smooth appearance. In both sculptures you could tell who was meant to be viewed as most significant in the sculpture. In King Sahure and A Nome God, King Sahure is larger in statue than the god of Coptite. This indicating that King Sahure reigns supreme over the god, determining that it is not a votive statue. It can also tell us a little s something about Ancient Egyptian culture, and what their values were. If the King was considered more superior than the god, it would give us an insight to religion during that time period. In the sculpture of Demedji and Hennutsen, the husband is seated and is also larger in stature. This also indicates supremacy over his wife. A difference that I picked up on with the two sculptures were the artists usage of space. King Sahure and A Nome God shows two figures that are submerged and connected to each other within the stone. They almost look like they are attached to each other. In Demedji and Hennutsen, the statues are seated very differently. The man and woman have a significant amount of space between both of them. Not only in proximity, but the spaces between their arms and legs is much more significant than the other sculpture. Giving the pair a sense of distance. Although both works King Sahure and A Nome God and Demedji and Hennutsen were created during the same dynasty and time period, they do have their differences. Each statue tells a story what everyday life was for the people of their time period. They give us a inside view of what their beliefs and cultures were like.

Gold Bear Golf INC. Essay

1.The professional auditing standards have a set of five management assertions. Of the five assertions, three are very important in regards to the Paragon audit. The descriptions below, audit procedure is explained that would have ensured the audit was completed accurately. a.Occurrence- The management assertion that ensures a particular transaction actually happened. In the case of a construction company such as Paragon, this could be verified by going to a job site and checking to see if the job is actually happening. b.Valuation/Allocation- The management assertion that ensures the transactions are accounted for the correct amount. Changing from percentage-of completion method to the earned value method resulted in significantly overstated revenues and material misstatements in the financial statements. The audit procedure that should take place in this situation is inspection of the records. Looking back at the records would show the change was not supported by the accepted accou nting standards. c.Presentation/Disclosure- The management assertion that ensures all changes within a company are stated in the notes of the financials. These changes should be easy to understand and depict a complete picture of the company from the year. The audit procedure that should have taken place during the audit is inquiry. Sullivan and the staff should have questioned the managers on his or her decisions instead of taking their word as to why the changes were made. 2.The audit failures the SEC were referring to was the fact that Sullivan and his staff relied on the manager’s word. Sullivan and staff did not perform the accurate assertions to test the information provided from Paragon’s managers. The audit partner, Sullivan in this case, is the individual who is in charge of ensuring everyone on the audit is performing his or her job completely and accurately. Sullivan will take the blunt of the responsibility because he is ultimately the person who is in charge of overseeing the auditing the audit as a whole, but the audit staff should also face consciences from the findings. 3.A high risk audit means the chance that of material misstatement and fraudulent activities are significantly higher. Weak controls, changes in management, and changes in accounting methods are several reasons why an auditor would conclude a company is a â€Å"high risk† engagement. The audit partner basis the risk of engagement on his or her observations from the company. When working a high  risk engagement, an auditor will examine a higher percentage of the transactions from throughout the year. Checking more transactions means the auditors are going to produce the most accurate financials possible and ensuring no fraudulent activities are taking place within the company. 4.Auditors do have the responsibility of following the AICPA Audit and Accounting Guides for specialized industries. The AICPPA set guidelines for companies in these industries to follow to ensure the end product is of highest quality. Auditors should make sure the managers are following all of the rules and regulation set forth for that type of company, but these guidelines should never override or replace the Statements on Auditing and Standards. The Statement and Auditing Standards is the rule book for how and what is to be performed in an audit. the AICPA should make the Audit and Accounting Guides for specialized industries in accordance with the Statement and Auditing Standards so the companies are operating with the highest quality, in both products and financial standing. 5.When making a change in the accounting principle used within a company, there has to be very good reason why the company wants to. When these changed are made, they must be presented retrospectively. Managers must produce the financial statements for the past several years so the public can see the effects it has on the company. On the other hand, the changes in accounting estimates are applied prospectively. Managers use the new method in estimating cost and revenues from that point forward. The changes Paragon made are for accounting estimates. The percentage-in-completion method and the earned value method are accounting estimate methods. Boyd and Curbello will use the new method from that point forward. The problem Paragon ran into is disclosure. The changes were not properly disclosed in the financials. This is a problem because two method result in very different numbers for the company.