Contract and Italian Cuisine

Tullula Investments Ltd is a large South Australian company, which owns and operates many hotel and restaurants throughout Australia. Italian Cuisine Ltd, a food and catering business whose headquarters are in Brisbane, supplies goods commonly used by businesses such as Tullula Investments Ltd. On September 1, 2000, Italian Cuisine Ltd sent a fax to Tullula Investments Ltd, which read: â€Å"Can offer latest ‘Speedy Rice Cookers' at $100 each.†On October 1, 2000, Tullula Investments Ltd faxed a reply stating: â€Å"Will have four dozen. Need delivery by November 1, 2000.† Upon receiving the fax Italian Cuisine Ltd then wrote back to Tullula Investments Ltd saying â€Å"thank you for your fax which is receiving our attention†. Subsequently and prior to November 1, 2000, Italian Cuisine Ltd packed the rice cookers and loaded them on a van for delivery to Tullula Investments Ltd, but before the van set out, Tullula Investments Ltd phoned Italian Cuisine Ltd to say that they no longer needed the rice cookers.TaskDiscuss the legal position of Tullula Investments and Italian Cuisine in relation to the law of contract. Use case references to support your answer.  Having read the case study, analyse the case in respect to the following categories. Formulate your answer using these categories. Introduction – identifies relevant area of the law elements of a simple contractIdentify the issue(s) — offer and acceptance, intention to create legal relationsDefine and examine the laws and principles of offer and invitation to treat (ITT)Apply the laws and principles to the fact — rules of offer and ITT (objective test). Include relevant casesApply the laws and principles to the fact — rules of acceptance. Include relevant casesApply the laws and principles to the fact — issue of revocation. Include relevant casesConclusionCase study answer guide This is the answer guide to the Tallula Investments case study. Comp are your response to this guide and make sure you have covered each of these points.†¢State relevant area of law — contract, in particular simple contract †¢Outline elements of a simple contract †¢Identify elements with which there is a problem — offer + acceptance = agreement (Has there been a genuine offer, which meets all requirements of law? Has there been an unqualified acceptance, which meets all the requirements of contract law?†¢Fax by Italian Cuisine to sell rice cookers at $100 does not constitute an offer but an intention to trade (ITT) or supply of information. Define and discuss Case reference: students may quote any case which discusses the difference between ITT and genuine offer, eg they may apply the test from Carlill v Carbolic to demonstrate their answer or Pharmaceutical Society of Great Britain v Boots Cash Chemists (Southern) (1953) 1 QB 401 or Partridge v Crittenden (1968) †¢Tallula Investments' reply by fax on 1 October, 2000 is not an acceptance but offer to buy the cookers at $100 each. Define and discuss Case reference: Harvey v Facey (1893)†¢Acceptance: define. Apply Italian Cuisine's response to Tallula Investments first reply â€Å"fax receiving attention† is not an unqualifiedd acceptance of Tallula Investments' offer Silence is not acceptance see Felthouse v Bindley (1862)†¢Revocation — define an offer can be revoked before communication of acceptance by offeror case reference Goldsborough Mort & Co Ltd v Quinn (1910) Apply: Therefore Tallula Investments would be entitled to revoke their offer before delivery of goods takes place.Model answer Below is a model answer based on the previous categories. The green highlighted text shows how the law has been applied to the facts. The yellow highlighted text shows relevant case citations.The case study deals tih a simple contract, which is not required to be in writing. The elements of a simple contract are: 1.Intention to create legal relations 2.Offer and acceptance (an agreement) 3.Consideration 4.Capacity of the parties 5.Certainty of terms 6.Legality of objectThe main issue in this problem is whether there is an ‘agreement' – offer and acceptance However, on the first element of intention to create legal relations, it is clearly a business/commercial relationship between Tallula Investments Ltd and Italian Cuisine Ltd and therefore the presumption is that the parties intend to enter into legal relations. There is no evidence to rebut this presumption (see Jones v Vernon Pools). The next issue to be dealt with is the ‘offer'. Has Italian Cuisine made an offer to Tallula in the fax September 1, 2000 which read: ‘Can offer latest speedy Rice Cookers at $100 each'In my view this is not a genuine offer, it is more in the nature of an invitation to treat. The words ‘can offer' is not a definite proposal to sell the cookers at the stated price but is simply suggesting that the Speedy Rice Cookers are available for sale. The test in deciding between an offer and an invitation to treat was set out in Carlill v Carbolic Smoke Ball Co which held that an ‘invitation to treat is a request for offers' and determined by the ‘ordinary person test'.Clearly here, we have an inducement sent out by Italian Cuisine to Tallula to enter into negotiations  for the purchase of the rice cookers. It is not a definite proposal, made with the intention that it becomes binding once accepted (see Partridge v Crittenden ). As the fax sent on the 1st September, 2000 by Italian Cuisine is not an offer we now need to consider the position with the Tallula fax at 1st October, 2000.This reply is not an acceptance. An acceptance is an agreement to be bound to the terms of an offer. The fax by Tallula is actually an offer to buy the cookers at $100 (see Harvey v Facey ).Italian Cuisine's response to the Tallula Investments' fax ‘receiving attention' is not an ac ceptance to the offer. An acceptance must be clear and unqualified to be binding. It can be argued that Italian Cuisine is actually ‘silent' on the issue of acceptance an silence is not acceptance (see Felthouse v Bindley ). We must now look at the issue of the revocation and decide whether Tallula Investments is required to take delivery and pay for the cookers. Since Tallula made the offer to Italian Cuisine which was not actually accepted, they are entitled to revoke that offer. An offer can be revoked by an offeror before communication of acceptance by the offeree (see Goldsborough Mort & Co v Quinn). Tallula Investments therefore, do not have to take delivery or pay for the rice cookers as they are not bound by the contract of law.

Electronic Bill Payment in Canada

1-Introduction: In today’s evolutionary world, where technology keeps on revolutionizing our everyday tasks, electronic bill presentment and payment offer a whole new billing process by offering online and real time presentment of bills and payment choices. It offers great advantages and significantly improves customer care and customer relationship management. We will cover the information found in an electronic bill, followed by the process of a bill presentment. We will briefly compare traditional paper-based bills and electronic bills.And then, we will expose the different parties involved in an electronic bill presentment and payment, followed by the different evolution phases. The advantages and the risks associated with the adopting the EBPP or not. Finally we will see the different users of EBPP in Canada. Electronic transactions will gradually become the principal method for both consumers and companies to pay their bills. The main business driver is the important cos t reduction for billers from reducing manual work and paper, but it must also present an advantage to customers in order to be successful.For now, customers who have become accustomed to internet banking are the prime candidates for EBPP. On July 8, 2004, EPO Inc (Canada Post’s epost) acquired Webdox, the only other bill delivery service in Canada. Together they will provide Canadians with a single EBPP service that will be one of the most advanced of its kind in the world. Figure: Billing Process Stages 2-Definitions: Instead of the hassle of having to make physical payments, electronic payments are payments made online. They are made through the financial institution’s website.Electronic Billing is the electronic delivery and presentation of bills, invoices, and related information sent by a company to its customers. Instead of receiving paper bills through the mail, and then writing out and sending a check, bills can be received by e-mail, or accessed through the bi ller’s website. It is also known as Electronic Bill Presentment and Payment, or EBPP, which is a model based on business-to-consumer. Electronic Invoice Presentment and Payment, or EIPP, is the equivalent for a business-to-business payment, however, we won’t be overing it in this paper. The Electronic Bill Presentment & Payment (EBPP) model enables customers of banks and billing companies to use the internet or the phone to conveniently remit payments as well as access their billing information. It was created in the United-States by the Council for Electronic Billing and Payment (CEBP) of the National Automated Clearing House Association (NACHA) The biggest and most obvious difference between EBPP systems and the traditional method of bill payment, is that of technology.Rather than receiving a bill through the mail, writing out and sending a check, consumers receive their bills in an email, or are prompted to visit a website to view and pay their bills 3-Content Creat ion and Bill Design: There are several types of information in an electronic bill, most of which are the same you would find in a traditional paper bill. First, it identifies the customer, or their authorized agent, in order to link this particular bill to the biller’s account receivable processes.It includes the name and address, the account number with the Biller (or any other information that the biller has determined to identify its customers like an ID number, username, or phone number), and the time period for the bill ( a week, or a month, or a year). Second, it states the amount due from the customer, as well as any details explaining new charges over the billing period if there are any; for example, long distance phone bills contain details of each call and other specific charges included in the amount due. Third, it specifies the date when the total amount is due.Fourth, it includes a period-to-period reconciliation of activity since the last bill or statement was p roduced, so that the customer is able to compare the differences. Fifth, it specifies the disclosure information from Biller to Customer, so that the Customer is advised of the disclosure policy of the biller. Sixth, the customer can view his previous bills and account activity history from prior billing cycles. The electronic bill is also an opportunity for advertising (which the biller controls) that help in cross selling and marketing the biller’s product and services.Finally, customer care contact information is available in case a customer needs help or guidance. The term Bill Summary is generally used to encompass the essential items : Name, Amount due and due date. The term Bill Detail is used to include any of the remaining items, which a Biller may elect to send to its customers 4-Presentment of the Bill – Process: Transitioning from Paper-Based to Electronic Formats There are five different methods of porting the printed documents and their information conten t to an online form that can be utilized by EBPP: 1. Conversion to PDF format . Rasterization to GIF, JPG or PNG formats 3. Recomposition into HTML or XML 4. Conversion to normal HTML or XML 5. Translation to highly formatted HTML or XML Each of these methods has advantages and disadvantages. Depending on the application, the organization will decide which method to use. i)Content Creation and Deployment: In the bill-presentment stage, the primary steps of content authoring and deployment are essential. The steps include creation of the content, content reviews, approving the content, modification of the content and lastly, the deployment of the content.Exhibit 1, illustrates the process involved in the content creation and deployment phase. The policies and procedures involved in the content creation and deployment require responsibilities to be designated to certain individuals to further ensure that all aspects of the web page are well maintained. Developing an internal style gui de would serve to provide the page layout, design elements and maintain consistency in terms of the look and feel of the web pages. The style guide would also facilitate the system by providing information on how to link one page to other pages. The creation of the web page (presentment) is rather straightforward.The true challenges arise when facing a number of issues, namely the maintenance of the web page in terms of the content of information and errors/breakdowns and up to date modifications (could be daily), as well as the configuration of the access network on which the web page is based. ii)Notification Notification about the invoice can be delivered to the customer (bill payer) in a variety of ways. The most common method used is notification through e-mails. The customer receives an e-mail notifying them of the account balance or amount due. However, this method is limited in terms of its graphical presentation and potential.A more effective method of notifying the consume r of their invoice is to send the URL (link of the website) that contains the invoice in order to overcome the limitations of e-mailing the invoice. The latest trend however in the notification aspect of a bill is via mobile phones and personal digital assistants (PDAs). Instead of e-mailing the customer, the biller may establish a database for the client’s phone numbers and send them text messages stating the amount due, the due date of the bill as well as any additional information the biller finds necessary to provide.In the traditional case of paper-based bills, notification is done through mailing the actual invoice to the customer/client. iii)Bill Presentment: Under EBPP, bill presentment is the stage where the biller/consolidator delivers a copy of the actual bill to the customer/client in an electronically generated format. The bill may be presented with complete details of the invoice or as a summary of the details, depending on the extent and intensity of the detail s involved. Through bill presentment, the biller is able to communicate more effectively with the clients being billed.The reason why interaction between the biller and the clients is enhanced is due to the ability of the biller to guide the customers to the areas of interest as well as study or better understand the client’s preferences and trends. Electronic bill presentment may also assist the biller by improving brand loyalty by providing the clients with a well developed a compelling experience. Aspects concerning marketing and advertising can also be addressed by monitoring and controlling the space of the web page surrounding the area of the invoice.Additional aspects may be provided by making information about pending orders, past payments as well as pending payments available. iv)Electronic Payment and Posting: This presents the last stage involved in EBPP. The Billers as well as the consolidators are required to provide the customers with various forms of payments i n order to provide the customer with flexibility. Payments may be set to be made automatically or at the discretion of the customer. The types of payments may include: †¢Direct debit from accounts †¢One-time payments †¢Check payments Online payments/ Electronic funds transfers †¢Bank cards/ Credit card payments. Customers are also provided with the choice of making multiple payments to a single provider or one combined payment for multiple services to the consolidator (such as epost). The concept of â€Å"Posting† highlights the documentation of the information on when the bill was paid, how the payment was made and the amount of the payment made for the services. Such information is then updated to the biller’s accounts-receivables systems. 5-Comparison of Paper-Based and Electronic SolutionsExhibits 2 and 3 show the comparison between the paper based billing cycle and the electronic billing cycle. In both billing cycles (electronic and paper based ), the creation of the bill goes through the same stages: Data collection, Mediation, Rating and Content creation and bill design. In the stage of bill design and creation however, the bill is only formatted when it’s a paper based one, and printed when it’s an electronic bill. The main difference between the two cycles is at the stage of the Presentment of the bill.In the case of a paper based payment, after the bill is formatted, there is notification by regular mail and then the bill is presented. In the case of the electronic billing cycle, there is notification by internet and then there’s an extra stage where the bill is converted onto a Web-friendly format, this is referred to as the Transition to Electronic stage. Finally, the bill is presented either by Web or printed and the check is sent to the biller if it’s a paper based bill, or the payment could be executed immediately and electronically in the case of an electronic bill. – Parties I nvolved: Billers, bankers, aggregators and consolidators implementing EBPP can play various roles in the overall EBPP process. Once roles are defined, it is easier to identify which model (aggregator, biller-direct or e-mail based) is most appropriate for the client's EBPP strategy. Billers may also implement more than one model in order to best serve their clients. Because the industry is continuously changing and redefining, the options and opportunities for EBPP will continue to expand.There are several parties involved in the EBPP process: The biller payment provider, or BPP, is the biller’s bank that receive payment and provides account receivable information. It is an agent of the biller that accepts remittance informatio on behalf of the biller. The bill service provider, or BSP, provides EBPP services to the biller like posting bill details, consolidating bills and delivering them to the customer service provider, or providing bill summary ditribution. The customer se rvice provider, or CSP, as it names implies, provides the customer with an interface for bill presentment.It enrolls them, enables presentment and provides customer care and support. They are contacted directly by the customer to help with a payment or receive general assistance and answer questions. The Consolidator is a biller service provider that aggregates all the customer’s bills from multiple billers in one central website. An example of a consolidator is Canada’s epost where the customer securely accesses the website to both view and pay his/her bills. It is advantageous in that the customers can view and pay all their bills at once. 7- Evolution Phases:The fast paced development of the Internet (World Wide Web) has enabled the establishment of an environment where companies and customers have direct and immediate forms of communication. This made way to more effective and efficient methods to undertake transactions between two or more parties. Services such as Electronic Bill Presentment and Payment (EBPP) were bound to take place. The end result was replacing paper mail bills with electronic documents that served the same purpose, only in a more efficient light. In 1999, Canada post implemented the world’s first electronic post office, epost.This put Canada in the forefront of the Electronic Bill Presentment and Payment market. By providing a free and universally available service, epost dominated the e-billing market and provided solutions to many Canadians. By 2002, the e-billing market was split between epost and Webdoxs, epost’s main competitor at the time. In July 2004, epost increased its market share through its acquisition of webdoxs. This made epost Canada’s main EBPP service provider and by the end of 2004, epost secured 1. 6 million registered users. However, despite the growth of the e-billing sector, the profits generated were not significant.The combined revenue of e-billing service providers, namely, epost, Innovapost and Canada post International Ltd. was $192 million in 2004, $18 million less than the previous year. Despite the substantial drop in the revenues generated by e-billing service providers the prospects for the e-billing sector remained optimistic due to the high growth potential of the e-billing sector. Canada post was aware of the fact that the average bill paying customer needed time to adapt to the new techniques provided by e-billings sector. Visa Canada's national purchasing study, â€Å"How Business Buys,† released May 2001, shows that e-commerce based billing and ordering processes will more than quadruple by 2005. Currently, e-billing accounts for only two percent of corporate billing. Benefits include reduced internal costs and reduced time consumption. † Visa Study published by Allbusiness in 2001 (http://www. allbusiness. com/public-administration/1169884-1. html) In 2005, epost approached Canada’s major financial institutions in orde r to implement the e-billing component through the financial institutions’ online banking element.Such a step would allow the banks’ clients to gain access to the same epost features (receiving, viewing, paying and storing bills online) directly from the financial institutions’ website. This in turn would enable epost to reach a larger market base of customers through the financial institutions. â€Å"Research that focused on people who bank online shows they are increasingly valuable, long-term bank customers who are more likely to invest more money and purchase additional services. These are the same customers that would be attracted to and benefit from EBPP.It’s our goal to have every Canadian banking online, receive all their critical mail online through epost. † As stated by Roger Couldrey, president and CEO of epost. By the end of 2005, epost had been integrated into many of Canada’s major financial institutions, namely Bank of Montrea l (BMO – Canada’s first bank), CIBC, Laurentian Bank, Desjardins, Royal Bank of Canada Financial Group, National Bank of Canada, Scotia Bank and Toronto Dominion Trust. By targeting Canada’s online banking customers, epost was able to effectively increase interest and use of the e-billing sector.According to statistics gathered by ComScore Media Metrics in 2004, 11 million Canadians browsed their financial institution’s website in order to access their financial information. Additionally, in 2003 Forrester Research found Canadians to be early adopters of Web-based financial services when compared to Americans. A large number of Canadians, 55 percent, used the web for banking/financial services while only 37 percent of Americans used the internet for banking services. Such statistics set the market base for epost and established the key basis for its inevitable expansion as Canada’s leading EBPP service provider.Today EBPP is one of the most utilize d concepts in North America, with a market of approximately 330 million regular users. Interest among Canadian businesses is growing at an overwhelming pace; many are discovering that it is the most cost effective method to undertake the billing aspect of conducting business. Moreover, due to the ever increasing importance of preserving the environment, the implementation of the e-billing component would contribute to the cause of saving the environment by using less paper and producing less waste. 8- Advantages of EBPP )Benefits to the corporations/implementers: The implementation of EBPP has brought about many advantages for both the companies billing and the customers getting billed. The 100+ Canadian companies, now using epost’s e-billing services, have experienced a number of advantages starting with delivering bills to their customers instantly. This saves a substantial amount of time for the billers, since the mailing and processing floats will be significantly reduced , leading to quicker payments of bills, as well as reduced Days Sales Outstanding (DSO).This means that bills will be collected faster by firms, enabling them to pay their suppliers earlier, hence enhancing the way in which business is conducted between a corporation and it’s paying clients by reducing the cash conversion period. Payments made by customers will be automatically linked to the corporation’s Accounts Receivables, providing the company with better control over its pending payments and overall cash position. Beyond the aspect of speed, the corporation’s costs of presentment will be significantly reduced, up to 80%.It would also abolish the costs of paper, printing and postage fees. With the lowest possible costs of payment processing, distribution and collection of bills, firms will be reducing their costs effectively while increasing their profits. Additionally, the costs of implementing the e-billing component are relatively little, taking into acc ount the vast cost reductions of implementing the system. Furthermore, EBPP will enable a corporation to observe its customer’s behavior, since customer needs will be apparent through the usage of the features provided.The corporation will be able to achieve customer satisfaction by placing emphasis on and enhancing the features its customers appear to be utilizing the most. The corporation will also be able to reach its customers through the â€Å"interactive† statement messages system, which can be used as a tool for marketing and advertising new features, products and/or services. Furthermore, such a system can be used to get clients registered for recurring automated payments each month/period as well as providing the option of non-recurring payments, such as a one-time bill.Taking into consideration the overall advantages provided by the implementers of EBPP, it would be safe to say that the growth potential for the e-billing sector is enormous. Up until now, ther e are approximately 100 Canadian companies implementing the system. This number is expected to grow in time due to the vast number of advantages provided by EBPP. ii)Benefits to the customer: Although most systems are designed to further benefit the company implementing them, EBPP is a tool for both the company and its clients.EBPP enables the customer to immediately self-activate (open) their account in order for them to make recurring periodic (monthly) payments. It ultimately saves the customer the time taken to physically mail or make the payment at their financial institution, and practically eliminates the mail float by allowing the customer to make payments immediately after viewing the bill online. EBPP is also flexible in the sense that it can be implemented in many different forms providing the customer with a vast number of ways to utilize its many features.EBPP gives the customer an array of drafting options, from customer-initiated payments to automatic drafts or even s afety drafts if necessary. Customers can make the payments either through a consolidator such as epost, the corporation itself such as Rogers Telecom or through their bank such as Bank of Montreal. By giving the customer a wide range of choices, he/she can choose what they are most comfortable with in terms of security and quality of service.The number of errors made by the bill payers and the billers are also substantially reduced due to the ability of the platform to allow pre-filled customer interactive information to ensure all content collected/distributed is correct. Additionally, epost provides its registered users with the option to store their bills for up to 7 years. This allows for maximum efficiency, the customer will no longer have to pile up his/her paper bills for future reference rather, they will have their bills stored online and accessible at all times. Security wise, EBPP is rather comprehensive.In order to gain access to an account, the account number and its ma tching password are required. Furthermore, it encrypts the information transmitted from a computer to the designated server through Secure Socket Layer (SSL) technology. This reduces the chances of confidential information falling into the wrong hands. Overall, EBPP systems are usually designed to maximize security and confidentiality in order to encourage users to share their personal financial information to streamline the activities involved in making payments for desired products/services. ii)Benefits to the Environment: Although the benefits to the environment are clearly visible, translating the benefits in terms of Greenhouse Gas (GHG) emission reductions would illustrate the concept in a more effective light. If Canadians were to replace 40% of their paper bills with electronic bills and only print 20% of the electronic bills, GHG emissions would be substantially reduced by 10,500 tonnes per year. Replacing 80% of the paper bills and printing only 5% of the electronic ones w ould lead to 22,000 tons of reduced GHG emissions.Such goals would serve to better preserve the environment and would reduce the amount of waste produced by a significant portion. Canadian businesses would end up saving approximately $1. 1 billion dollars in total. Doubling the implementations would lead to a $2. 2 billion reduction in expenditure by businesses increasing their overall profits while ensuring that their operations are in line with the environmental constraints of reducing waste/GHG emissions. 9-Risk Affiliated with the Adoption and Non-Adoption of EBPPBillers must take into consideration every type of billing presentment and payment the market offers today since it is their main ingredient to be successful. Therefore, billers have to offer the optimal billing presentment and payment that will bring customer satisfaction and be convenient for the biller at the same time. After the introduction of Electronic Bill Presentment and Payments (EBBP) many billers are facing a dilemma of risk due to the adoption or non-adoption of EBPP.For instance, if the biller decides to adopt EBPP, there will be potential of non-acceptance from the biller’s customers after the implementation of EBPP and that will lead to a decrease in the profit margins because of lost customers. The biller might also encounter fraud attempts especially because the bill will be electronically paid. Moreover, there might be a defect in the operational process of electronic presentment and payments such as a system freeze which will incur more costs on the behalf of the biller.Then again, if the biller decides not to implement the EBPP, the biller might be going against the market’s new trend hence this will put the company in a competitive disadvantage. Therefore, the biller will start losing market share and this will reflect negatively as a decrease in the biller’s profit margins due to lost customers. 10- Users of EBPP in Canada (Business Sectors): Most busine sses that implement EBPP provide their customers with services that require recurring payments, rather than a one-time payment (non-recurring).This implies that EBPP would be more convenient for service geared businesses that provide the customer with an ongoing service, which would require the customer to make repeated payments. Businesses operating in the following service providing sectors would greatly benefit from the implementation of EBPP, since all forms of viewing/paying the bill would be streamlined and undertaken from one location. i)Telecommunications Service Providers ii)Utilities Service Providers iii)Visa/Master Procurement cards iv)Banks and financial institutions v)Insurance providers vi)Postal Industries 11-Conclusion:Electronic Bill Presentment and Payment offers a streamlined method of payment, which is very advantageous for both the billers and their clients and notably the environment. Moreover, it considerably reduces costs and the amount of time to make a pay ment. Despite the drawbacks or risks of implementing EBPP, the benefits clearly outweigh the disadvantages. We believe that by 2015 paper bills will probably be inexistent in Canada, due to the expectations of recessions, companies will realize that they will save a lot of money by implementing the e-billing component, despite its high implementation costs.EBPP is the next trend for all businesses, and is expected to become the standard form of bill presentment and payment. 12-References: http://findarticles. com/p/articles/mi_m0EIN/is_2004_July_8? pnum=3&opg=n6098705&tag=artBody;col1 http://findarticles. com/p/articles/mi_m0EIN/is_2004_July_8/ai_n6098705 http://cebp. nacha. org/documents/ebpp-buspractices-2-1. pdf www. cdnpay. ca www. wikipedia. ca http://www. bce. ca/data/documents/responsibility/innovating_toward_a_low_carbon_canada. pdf Margaret Tan (2005). E-payment: The digital Exchange. NUS Press Kornel Teplan (2003). Electronic Bill Presentment an

A Light to My Path

Grady has only known life with his mama and playing with Missy Caroline (from A Candle in the Darkness) when he’s sold away from the Fletcher plantation. He serves a slave trader for many years before managing to be gambled away to a kinder owner, Massa Fuller. When Massa Fuller begins calling on Miss Claire, Grady and Kitty’s paths cross. The pretty, naive artist intrigues Grady, but his hatred for anyone white clashes with her subservient attitude. Though Missy Claire treats her like an animal, Kitty is wholly devoted to the only person who’s shown her even the barest scrap of affection. The Civil War begins shortly after their owners marry. Grady sees this as the perfect opportunity for escape, but Kitty is terrified of the idea. Which will win, her love for Grady or her fear? And Grady must choose between his hatred and the Jesus he believed in as a child. Blending breathtaking historical detail with intriguing characters, Lynn Austin crafts a deep tale with important spiritual truths. The Refiner’s Fire series, which can be read in any order, will have the most appeal to women, even for those who don’t prefer books set during the Civil War. Pick up A Light to My Path and prepare for a soulful escape to the past. — Katie Hart, Christian Book Previews. com Book Jacket: This powerful conclusion to Lynn Austin’s REFINER’S FIRE series brings to a close one of the most acclaimed sagas in Christian fiction ever. Each of the first two novels won Christy Awards for Historical Fiction. Now Austin completes her trilogy with a dramatic examination of the Civil War through a slave’s perspective. Riveting, eloquent, and gripping as all of her previous works, it’s the conclusion for which you’ve been waiting. A Light to My Path Grady has only known life with his mama and playing with Missy Caroline (from A Candle in the Darkness) when he’s sold away from the Fletcher plantation. He serves a slave trader for many years before managing to be gambled away to a kinder owner, Massa Fuller. When Massa Fuller begins calling on Miss Claire, Grady and Kitty’s paths cross. The pretty, naive artist intrigues Grady, but his hatred for anyone white clashes with her subservient attitude. Though Missy Claire treats her like an animal, Kitty is wholly devoted to the only person who’s shown her even the barest scrap of affection. The Civil War begins shortly after their owners marry. Grady sees this as the perfect opportunity for escape, but Kitty is terrified of the idea. Which will win, her love for Grady or her fear? And Grady must choose between his hatred and the Jesus he believed in as a child. Blending breathtaking historical detail with intriguing characters, Lynn Austin crafts a deep tale with important spiritual truths. The Refiner’s Fire series, which can be read in any order, will have the most appeal to women, even for those who don’t prefer books set during the Civil War. Pick up A Light to My Path and prepare for a soulful escape to the past. — Katie Hart, Christian Book Previews. com Book Jacket: This powerful conclusion to Lynn Austin’s REFINER’S FIRE series brings to a close one of the most acclaimed sagas in Christian fiction ever. Each of the first two novels won Christy Awards for Historical Fiction. Now Austin completes her trilogy with a dramatic examination of the Civil War through a slave’s perspective. Riveting, eloquent, and gripping as all of her previous works, it’s the conclusion for which you’ve been waiting.

Taking Care of the Elderly Essay Example | Topics and Well Written Essays - 3750 words - 1

Taking Care of the Elderly - Essay Example Moreover, this sets the foundation for recognition and appreciation of the role of the elderly in society. This can come from the fact that was it not for the elderly, we would be nowhere in society being as they gave birth to us. Â  The case study is majorly about the elderly in society. Writing a reflective account on the same creates a basis for understanding the major issues that these people go through. It is important to understand that one of the contemporary issues regarding the elderly is the creation of elderly nursing homes. These homes are important from the fact that many people currently live very fast lives and are always up and working. This often has the people beyond 60 years lacking someone to take care of them at that age (Aveyard, 2007, 62). Â  This has had people investing in nursing homes to take care of the elderly. This assists their kids in that they have a less burden when it comes to taking care of these people. One organization, in particular, is The Good Care Group in East London. This has assisted people of the province to multitask and get alternative means of income generation. It is important to review the running of this organization in an attempt to gain the entire scope of the manner through which it is run (Carnwell, 2009, 114). Â  The organization was established back in the year 2006. A section of business people came together and decided to start the organization seeing as people of that community were undergoing a lot of suffering, spending the days at home and not having anything reasonable to do. Without anything to do, the elderly used to remain unattended to at home. However, after the mentioned strategies outlined by the business people, the elderly of London finally got an establishment that they would rest and receive the quality and quantity care that they deserve in their fragile age (Cowan, 2009, 108).

Cross married Essay Example | Topics and Well Written Essays - 750 words

Cross married - Essay Example Our family does effect in their community of friend; however, each family believes by their ancestor value passed down from their own knowledge of judgment in every learning activity from the family. A family member married outside their race. For example, in the movie "Guess who coming for dinner", marrying from another race is a threat to the family. This may bring about more family tradition or upper class family. This results to race differences that make families to slowly lose their traditional value. The community is supposed to be supporting this but this is not the case since human beings are jealousy, greedy for power and fame. Therefore, if something is unusual in the community of friend, then it could be an opportunity for one to judge other than to gain respect for their own. New couples without serious love may have an unstable relationship. On the other hand, new couples will continue to be criticized by their families and the community over time and this could lead to boiling point. In the movie "Guess who coming for dinner" shows a different point of view. The mother has a strong support in Joanna, and she sacked one of her good worker because the worker had a negative opinion in her daughter's relationship. The father approved his daughter's married. The family should accept cross marriages no matter how the community views it; they should not stop the marriage. Strong family approval helps the new couples to easily succeed in life. Cross marriage usually has a tough time in communication. Communication comes from the knowledge of the family background and friends we know well. In this case, parent have wire rang of knowledge and norm, and they can teach the children since they have a good judgments foundation. What happen to a child who has missed a fortune that the parent did not teach them in the right direction of norm The child grows up and makes multiple judgments according to his own opinion and logics. The communication has no boundary because the consequence of bad judgment has very little effect on their feeling. In addition, based on the movie, the knowledge and wisdom from Dr. John said in a few words to Joanna's parents did mean a lot. Dr. John understands in the norm of what the right thing to be done and what is not to be done. The moral value gives him an idea on how far he can go without stepping over the boundary. On the other hand, Joanna thinks very similar to most young couples. She speaks o n her feeling but without consequence of others. It is a very risky situation, but Joanna decision went as planned. However, in the story of "Grace", after many months, Grace felt that her parent-in-law's should have moved back to live with her sister in law. Grace decision did turn out in her plan, so she moved out from the house. Two-way moral communication is usually the best choice. Cross marriage has another problem of language barrier. Grace had problem of communicating with her mother-in-law because she do not speak English. Two-way communication is the best choice, but two different languages build a wall between two sides. Nothing else is more important in cross marriage than to have to have a stable income. So far, the movie "Guess who coming for dinner" and the story "Grace" were successful marriage. Dr. John is considered as a high class person, very knowledgeable person, and one who has a stable income. Dr. John marriage to Joanna was not a major change in her

Write a response to the film Genetics and Public Policy. What was new Movie Review

Write a response to the film Genetics and Public Policy. What was new to you What surprised you Did you agree with the arguments presented - Movie Review Example Watching the film, I found it amazing to what extent genes control human organisms. I have read about genes before, but I had no idea about the latest findings in the industry. They make up chromosomes, which compose DNA. The documentary states that 99% of DNA people have are identical and only 1% makes all people unique. Any deviations in chromosomes result in disabilities or certain diseases like sickle cell disease or Down syndrome. Indeed, if people can observe the development of chromosomes and detect deviations in their number or structure, they can help couples have healthy children. It is interesting that scientists can use genetic testing to â€Å"program children†; for instance they could influence eyes color or even sex of a future child. In this way people can predict and support healthy and sustainable future generation. The biggest surprise for me is that scientists do not share common views on the need of regulation for genetic testing. Some of them say that government already pays too much attention to what they do and it makes the process slower. The other group of scientists believes that the process is already too fast and government should impose more regulations on genetic testing. This group of scientists is afraid of opening a new Pandora box because nobody knows how far people can go in search of a perfect human being. I agree with the arguments which support stronger regulations for genetic testing. It is a great progress in science, but its results will support unwanted consequences such as greater gap between the rich and the poor. All scientists agree that genetic testing is a costly procedure; as a result, only rich people will afford to use it to have better and healthier children. Poor children will be deprived of these advances and their children will be weaker. Moreover, disabled people will be oppressed by the fact that their parents could prevent their disability but they did not do it. Developing technologies

Outline and discuss the evolution of CSR, including its history, role Essay - 1

Outline and discuss the evolution of CSR, including its history, role in the financial crisis and prospects for the future. Supp - Essay Example The topic of social responsibility is a highly debated one, as several theorists think that â€Å"business is obligated only to make profits.†2 On the other hand, many believe that all business entities have a social obligation it is bound to fulfill. However, there is no denial of the fact that while operating to make profits, a business organization has to ensure that they keep the interest of the society and environment in mind because basically the revenues they make have to primarily derive from the same society and environment. Definition: Corporate Social Responsibility can be defined as the â€Å"relationship between global corporations, governments of countries and individuals citizens.†3 CSR is also encompasses the relationship between corporations and their stakeholders. The EU Commission further defines CSR as a concept where â€Å"companies integrate social and environmental concerns in their business operations†4 as well as during their interactions with stakeholders on a â€Å"voluntary basis.†5 Thus, in simple terms it is the responsibility corporate organizations have towards the society they work and operate in. Furthermore, this responsibility is not limited to the present generation in a particular society, but also extends to coming generations, that is the â€Å"future members of the society.†6 CSR is greatly related with â€Å"corporate citizenship, business responsibility, business reputation, ethical corporation, sustainable business†7 etc but is different from them. The CSR approach believes that stakeholders such as â€Å"consumers, employees, the community at large, government, and the natural environment†8 are supposed to be given a stronger focus. Social responsibility of the firms basically stems from the fact that they are using the natural resources available in the area where they function. Thus, they are bound to give something back to the society. In the present day, the wellbe ing of society has become increasingly important, and community is given the main priority in all spheres. In such a community centered world system, the question of who is responsible to safeguard the interests of the people cannot simply be answered by government. While government has a key role, the growing private sector companies including corporate entities need to focus not only on making profits, but also consider the impact of their operations within the society. History and Evolution of Corporate Social Responsibility: The basic idea of CSR has its roots in the era before the birth of Jesus Christ and is first seen when in â€Å"1700 BC†9 the ancient Mesopotamian ruler brought into practice a code that imposes punishment on â€Å"builders, innkeepers or farmers†10 by death if as a result of â€Å"their negligence†11 any inconvenience is caused to local citizens. The people engaged in any trade related activities have to abide by this code, not merely b ecause they feared â€Å"legal consequences†12 but because of their strong sense of â€Å"moral conviction.†13 On the other hand, ancient Roman senators were upset with the fact that businesses were unable to provide adequate taxes in order to â€Å"fund military campaigns,†14 therefore unsuccessful to â€Å"contribute to the war programme.†

Assignment c Example | Topics and Well Written Essays - 500 words

C - Assignment Example Leadership must develop a sense of vision and encourage, inspire and motivate team members so that all share the common goal of achieving organizational success (Kleinwort, 2014). Jeff Bezos of Amazon is one business leader that been successful in revolutionizing the manner in which business is done with his concept of predictive analytics. Business acumen encompasses working a lot of keenness and right speeds when responding to and making decisions in unique business situations. individuals with business acumen those who are smart when it comes to business decisions; they have the capabilities of obtaining necessary information regarding situations in a timely manner, focusing specific objectives, recognizing all available alternatives for the solution, settling on the most appropriate actions and setting in motion plans of getting it done. Acumen requires the individual to think in a manner that focuses on most critical components, appreciation of possible consequences of their actions recognizing close monitoring and adjustment of plans are crucial in defining the future. An example of an entrepreneurial personality is Steve Jobs; he was successful in combining functionality, convenience and accessibility to give value for customers in the iPad product. Teamwork involves working in collaboration with members of a group towards achieving common objectives. Teamwork is a very essential element of business since most of the time colleagues are required to work together which is sometimes not easy. It calls on members of the team to cooperate with one another and give constructive feedback even with the conflicts that may arise due to personal differences (Scouller, 2011). To achieve the vision and business goals, leaders must therefore be able to cultivate the spirit of teamwork and get people to share the same vision. John Mackey has successfully cultivated a culture of teamwork and achieved tremendous business success at Whole Foods

Analysis of The movie the terminator in aspects of reality and Essay

Analysis of The movie the terminator in aspects of reality and technology - Essay Example Traveling through time is not achievable. If one could travel through time and know the future, the movie would be more realistic. Although the movie does not portray reality, the movie offers a good prediction of the future regarding technology. Many technological advances that the movie predicts are not so far from reality as 2012 approaches. A scene in the movie shows the terminator shopping for guns in a gun store. He asked for a weapon that has not yet been invented. Although the weapon has not yet been invented in 1984, in 2029 the weapon is considered a weapon of choice. Overall, the movie the terminator is an unrealistic prediction as far as time travel, but an accurate assumption of what life was thought to be like in the year 2029. The terminator movie and its many series have become classic movies and blockbuster hits, offering viewers an action packed sci-fi thrill

Examine the role played by the GATT and the World Trade Organisation Essay

Examine the role played by the GATT and the World Trade Organisation (WTO) in regulating international trade. What were the difficult issues it faced in the Doh - Essay Example The agreements are arrived at through a series of negotiating 'rounds', which are named after the location where the talks take place. The current round of talks are known as the Doha Round after Doha Qatar and include negotiations on goods, services, and intellectual property. In 1947, several nations came together in the post World War II environment to remove protectionist tariffs and foster international trade co-operation. GATT has never been recognised as an official international organisation and refers only to the body of agreements among its member nations. GATT's primary mechanism for regulating and stimulating international trade has been tariff reduction and elimination. "In the late forties, the average duty on industrial products imposed by developing countries was around 40 per cent ad valorem. As a result of the Uruguay Round and the previous Rounds, the average duty is as low as 3.9 per cent" (United Nations Conference 2003, p.45). While GATT experienced much success through the reduction of tariffs, many nations remained reluctant to enter into agreements that addressed other aspects of trade. The initial agreements were successful not only by freezing and reducing tariffs; they also discouraged the formation of preferential trade agreements. GATT was based on the concept of the "Unconditional Most Favored Nation" (MFN) status. This policy mandated that all members treat each other member with the same status as their most favoured trading partner. This gives equal access to all members and stimulates open trade. Some preferential agreements, based on geographical proximity, have been allowed under GATT. The European Economic Community (EEC) was a regional trade bloc that grew out of the European Coal and Steel Community (ECSC). Though it promoted preferential regional trade, it was allowed under a waiver of GATT's no-new-preferences rule (Kenwood 1999, p.285). Lower tariffs and equal access to markets is the foundation of GATT. Though the preamble of the GATT states that its purpose is the "reduction of tariffs and other barriers to trade and to the elimination of discriminatory treatment in international commerce", the agreements spread into many other areas (University of British Columbia 1998). One of the main thrusts of GATT has been the elimination of quantitative restrictions. Quotas and import restrictions had placed a serious impediment to world trade in the years 1913-1950. Quotas were even more damaging to trade than tariffs because they set a strict limitation on trade. GATT addressed this issue by condemning quantitative trade restrictions except for extreme situations such as short-term balance of payment purposes and for the protection of 'infant' industries (Kenwood 1999, p.242). The reduction of tariffs and the elimination of quantitative restrictions were primarily responsible for the UK's global trade growth in the last half of the 20th century. In the period 1913-1950 the UK had a negligi ble export growth rate. Under GATT the growth rate had increased to 5% for the period 1990-1996 (Kenwood 1999, p.24). GATT has also addressed other issues that promote free trade and the fair treatment of its members. The Uruguay round, 1986-1994, was designed to meet the challenges of technology and communications. The talks were directly responsible for $740 billion in tariff cuts and it has been estimated that global trade would increase by $270 billion a year and that the world would be over $500 billion

International Trade Theory and Policy Essay Example for Free

International Trade Theory and Policy Essay Multilateral trade negotiations forums are organizations established to regulate trade between many countries of the world. The agreement involves establishing organizations which regulate trade in the entire world. The increase in globalization has forced many countries to form regulatory organizations to avoid bad trade practices. To enhance trade many countries have created trade agreements to remove barriers to trade. Economic integration is the most important aspect discussed by the trade agreement organizations. The organizations aim at achieving an integrated economy where countries can trade with each other. After the World War II many leaders of the world felt that the economies of the destroyed countries could only be improved through trade. One of the proposals to improve trade was to create a laissez-faire global economy but this was rejected since it was not applicable. The leaders agreed to establish global trade organizations which would enhance trade by reducing the barriers to trade which had been placed by the countries. During the war many countries created strict barriers to trade to protect their economies from external influence (Anderson, 2005). The General Agreement on Trade and Tariffs was the first agreement to be established. The agreement was established to enhance trade between the member countries but was later converted into World Trade Organization (WTO). The International Monetary Fund was also created to regulate the economic status of the developing nations as well as regulate international economic activities (Smith, Sumner Rosson, n. d. ). Reconstruction of the damaged economies after the World War II was the priority of these organizations. For many years several amendments have been made to accommodate the changing economic climate. Trade liberalization has been the most important aspect during the amendments. For example, according to Anderson. (2005, pg. 414), the Uruguay Round of multilateral trade negotiations led to agreements signed in 1994 that contributed to trade liberalization over the subsequent 10 years. † Despite the many advantages accompanied by the establishment of the international trade organizations, there have been several disadvantages accompanied by the activities of opening up of domestic markets to international trade. An example is the global economic recession of the 2007-2009 that was experienced by the world economies after the banking industry and the mortgage industry collapsed due to poor financial practices by the U. S. banks. Importance of multilateral trade institutions The multilateral trade organizations were created to enhance trade and stability of the economies of the member countries. Initially they were established to reconstruct the economies which had been destroyed during the World War II. Many countries realized the importance of trade in improving the economies after the war. Trade was the only tool that could restore the original status of the economies. Before and during the war many countries had put a lot of trade barriers to prevent trade with other countries. Opening up domestic economies required negotiations with all countries of the world to enhance a more open economic system (Warnke, 1996). Multilateral trade institutions improve international trade since they encourage member countries to open up their domestic markets to international trade. Trade disputes are resolved more easily between and among conflicting countries, hence leading to a good relationship between countries. Production according to comparative advantage has been encouraged by the improvement in international trade. Countries are encouraged to produce goods which they can produce most economically. Different countries have different resources which give them the potential to create income generating products. Through international trade resources are utilized optimally since an economy will specialize in the production of products which it has greater advantages (Bernard et al. 2007). International trade has encouraged countries to specialize in the production of goods and services. The mobility of factors of production has been accelerated by globalization. More industries are encouraging division of labor to increase the productivity of labor factors of production. More industries have developed with the expansion of international trade. These industries create more employment opportunities to the citizens of a country. As the par capita income of the people increases their living standards is improved. Poverty alleviation campaigns have encouraged improved international trade as one of the strategies to enhance development of nations (Bernard et al. 2007). Opening up the domestic market to international trade creates more advantages than disadvantages. The international prices are lower than the domestic prices. The consumers obtain goods and services at lower prices. The competition created by the international trade encourages the domestic firms to be efficient in their production systems. The customers are provided with a wide variety of products to select from (Bernard et al. 2007). Multilateral trade organizations control the globalization of economies. Globalization refers to the international operation of business activities and the transfer of information between countries. Globalization has affected business activities both positively and negatively. Global markets have emerged and many companies are operating in several countries. This has created competitiveness of the companies since the global markets are larger than regional markets. Globalization is the process of integrating the global economies, societies and cultures by connecting communication and trade networks. Economic globalization refers to the integration of global economies by enhancing trade, foreign direct investment, sharing of technology, movement of people and flow of capital. The factors which influence the rate of globalization are the world economies, technology, and socio-cultural, political and biological aspects (Warnke, 1996). Globalization has improved the exchange of technologies and knowledge. This has increased the capacity of businesses to expand on the number of innovative products in the market. The public sector alone cannot accommodate all the skilled labor in a country and trade provides more employment opportunities for the people in a nation. As economies become more global people with skills can move to countries where there is high market potential for their labor. The introduction of internet has increased efficiency in trade by enabling people transfer information more easily. Trade attracts private investment and this generates more capital in the economy. The gross domestic product of a country increases with increase in trade. Growth and development of an economic is accelerated by trade since more income is generated and the living standards of the people are improved (Daniels, Radebaugh Sullivan, 2007). Poverty levels in both developing and developed countries have declined by greater margins due to participation of countries in the international trade. Economies have acquired more wealth and the gross domestic product of countries has improved. WTO has become the custodian of international law on trade. The enforcement of trade laws about good trade practices has been possible after the creation of WTO. The establishment of regional and multilateral trade agreements was experienced after WTO was created. This has encouraged many countries remove barriers to trade (World Trade Organization 2010). Weaknesses of multilateral trade institutions Most of the multilateral trade organizations are affected by the political climate in the member countries. Any political war between the member countries can ruin the operation of the organizations. When the organizations support some political organizations; they affect the interests of the members and this reduces the delivery of the required obligations. Politically strong countries have dominated the operations of the multilateral organizations and this is causing a lot of concern to the global trade communities. Decision making at the trade organizations has become very difficult since many participants are not willing to accept rules which affect their economies negatively. Anderson (2005, pg. 417) suggests that although trade can and should play an important role in allowing developing countries to lift themselves out of poverty, in reality international trade agreements and institutions have more often than not contributed to the continuation of global social and economic injustice. The developed nations have dominated the multilateral trade organizations. For example, according to Anderson (2005, pg. 31) with decision-making based on a consensus system, so each member has equal decision-making power, the WTO is held to be the most democratic of all the international institutions with a global mandate. In practice, however, the working methods of the WTO lack transparency, inclusiveness and equity. There have been conflicts as the developing nations are becoming concerned about the great influence the developed nations have on the decisions in these organizations. Multilateral trade agreements are complicated to establish since many countries are involved. The interests of each country should be represented during the negotiations to ensure that conflicts do not arise afterwards (Amadeo, 2010). Despite the establishment of the trade organizations many countries continue to place more trade discrimination measures upon other countries. They include not just trade taxes-cum-subsidies but also contingent protection measures such as anti-dumping, regulatory standards that can be technical barriers to trade, and domestic production subsidies Anderson (2005, pg. 415). Many trade distortions have occurred since the global economies were established. Multilateral trade organizations have encouraged the opening up of economies to international market influence. The opening up of domestic markets has affected the global economies. Several disadvantages have been accompanied by the opening up of the domestic markets, for example, the global economic meltdown of the 2007-2008. The crisis started with the rise in prices for basic products due to the international increase in fuel prices. The prices of oil and food products increased within a short duration leading to an economic crisis which affected many people in US. The prices for many products increased and inflation was experienced all over the country. Many subprime borrowers had low incomes and the rise in prices for basic products increased the expenses for their living. Many companies retrenched employees to accommodate the increasing production costs. The borrowers were unable to repay the loans resulting to massive defaults. More than 100 subprime mortgage intermediaries filed for bankruptcy. Reacquisition of the houses from the defaulters caused a lot of people to become homeless (Platt, 2008). Subprime mortgages are policies which have a high risk of default. Subprime borrowers are the people with low incomes and have a poor credit history. They have higher risk of default compared to the prime borrowers. The US government had deregulated the real estate mortgages leading to massive investment in subprime mortgages. This caused the risky lending of subprime mortgages. The subprime mortgages were not popular initially but they became widely used in the 1990s. The climax of the sub prime mortgages was in 2006 when they accounted for more than 21 percent of all mortgages traded in the US market. The value of subprime mortgages in 2006 was valued at $600 billion. Many subprime mortgage intermediaries were established to reap the benefits of the expanding industry (Helleiner, 2009). The world economies have experienced a major decline due to poor performance of many industries. This is a crisis which has affected all sectors of the economy. Williams (2009) claims that the crisis was initiated by the subprime mortgage lending crisis in US. The banking sector issued many loans to subprime mortgage intermediaries. Due to the expanding market in the sub prime mortgage market many banks issued unsecured loans to the intermediaries. The climax of the boom was reached in 2007 when the prices of products started to increase and many subprime mortgage lenders were unable to repay their loans. This led to massive default of debts and banks registered huge losses. This reduced the lending capacity of many banks. The resulting effect was lack of credit in the economy and the collapse of many companies (Stapledon, 2009). The government of US is to be blame for the crisis. The 102nd Congress under the leadership of George W. Bush deregulated the housing sector in 1992 (Guttmann, 1994). The main aim was to increase the availability of money for buying housing. Fannie Mae and Freddie Mac companies were deregulated and could spend $97. 50 to buy housing loans. Banks with $100 could spend more than $90 buying mortgage loans. The companies had been ordered by the congress to retain more capital to for risk allowance but this was not practiced. Since 1992 the mortgage sector experienced the highest boom with many companies investing heavily in the sector. Subprime mortgage intermediary companies were developed to assist homeowners acquire loans from the banks (Stapledon, 2009). The banking sector was the worse hit by the crisis. Inter-bank lending declined and banks had no money to issue to their customers. Most of the banks collapsed while others registered huge losses. This was as a result of failure by many subprime mortgage intermediaries which defaulted the huge loans they had acquired from the banks. The central bank could not lead to all the banks due to the massive crisis that affected the entire country. Since US is a market for many commodities from other countries there was an extension of the crisis to other economies causing a global economic meltdown. Many economies declined since they had no market for their goods. Inflation increased as prices persistently increased. The entire world encountered economic crisis which resulted into failure by all sectors of the economy in the world (Stapledon, 2009). Many international organizations have intervened to eradicate the problem. The intervention by the World Bank has created better results in the efforts to reduce the impacts of the crisis. World Bank has issued loans to many countries to increase the income levels of the people. Many companies have been able to access loans due to the fun ding by World Bank. The availability of loans has increased since last year and many companies have regained their capacity (Bayne, 2008). The World Trade Organization has negotiated with the oil producing countries to reduce the oil prices as one of the measures to reduce the effects of the crisis. The global oil prices increased causing the prices of many products to rise. The high product prices caused inflation in the whole world. WTO has also encouraged trade by persuading some countries remove the trade barriers they had placed upon their trade partners when the crisis was at the climax (Stephen, T. 2008).

Case Analysis Essay Example for Free

Case Analysis Essay Strategic Human Resource Management Unit 1 What is Strategic Management, and why is it critical to the success of an organization in meeting its goals and mission? Strategic management is setting priorities and goals within a business. It’s used with upper management to strengthen a company and prepare for future outcomes. Making a product that is highly profitable and easy for customers to use and benefit from is the main focus of Apple, Inc. The organization of Apple, Inc. started in the 1970’s and has been very profitable since. In 1978 they sold the Apple II and made billions of dollars from the product in less than three years. Between 1983 and 1984 Apple, Inc. lost sales and have fell into a crisis because of the slow processor speed and the compatible software. During this time it was hard for the organization due to competition. The problem Apple Inc. was facing at this time is other companies have found easier and faster ways for people to use the different products other than Apple, Inc. , during the 1985-1993 Apple, Inc. turned global, thus making sales up to 1 billion and was the most profitable PC Company in the world. Being able to turn any company global in an organization is very profitable, most people like new products. The beginning of 1993-1997 Apple Inc. starting playing a role in K-12 grade helping out the school systems with education with the product and this helped them out tremendously. By 2008 Apple Inc. started charging premium prices on their product knowing that with their name would be sold all over the nation. They also came out with the iPod roughly selling over 150 of them. This was giving the customer portable music and other exiting things and they still sell to this day. Today Apple, Inc. is one of the top rated organizations for iPhones, iPods, iPads, computer systems and much more. The only problem with Apple, Inc. now in this day in age is the competition. There are a lot more companies that are coming out with the same product just a different name. For example, the Kindle Fire is the same thing as the iPad, just a different name brand. A lot of people are purchasing the competitors product instead of the Apple name brand product. The reason behind this is that people would rather pay $200. 00 dollars for a Kindle Fire verses $500. 0 for the Apple iPad. Apple, Inc. needs to lower prices for their products so more and more people with purchase them. In years to come this is a critical problem that Apple, Inc. faces, to be successful in any organization you have to think like the customers. Majority of the customers are going to try and same money and buy the generic brand verses the name brand product. What Apple needs to do is, if they start seei ng a drop in profit they would need to start lowering prices down to match their main competitors so that more people will purchase their product. One of the main problems in 2013 is Apple iPad verses Amazon Kindle Fire. â€Å"The Amazon Kindle Fire has been called a potential iPad-killer by the media† states (Nations, D). The Amazon Kindle Fire is $199 and can do everything the Apple iPad and do. They are very similar and it’s making the customer purchase the Kindle Fire instead. When looking at both products â€Å"Instead of looking at the Kindle Fire verses the iPad in a direct match up of features, which would be about like comparing a Ford Escort to a Mercedes, (Nations, D). This is a great example of not only just the Amazon Kindle Fire verses Apple iPad, its everyday life. From the groceries that customers buy at the store to clothing lines at a local mall. Everything has a generic name and lower price and most of the top name brands are sold and get good profit but a lot of people are trying to save money for more important things like their children’s college or a vacation for the family, or just trying to get by with bills. So this would be a good example of why the Kindle Fire is being called the iPad-killer, because more likely people will purchase the Kindle for the lower price. Some of the advantages of the Kindle Fire is the low cost and being able to use the amazon app store to purchase games, books, movies and much more. Some advantages of the iPad is it’s faster, has more storage and dual face cameras on the iPad 2. Both of the products use full-color back-lit displays so both of them will have problems in direct sunlight. Both of them are good but the main concern is the price. To stay successful you have to look at your main competitors products and come out with bigger and better things to catch the customer’s eye. With doing this the product needs to be reasonably priced and affordable to the public. Otherwise the customers will go for the cheaper one to save costs. A good example of this is looking deeper into strategic management and why it is important. Strategic management is all about change, and facing challenging situations in the work place. Being able to except the change and work through it, and make important decisions and implement appropriate strategies. Some other examples of strategic management are resource limitations, changing environment, matching competitors, and improved decision making. Resource limitations is being able to deal with limited resources of money. A lot of business go through this and Apple Inc. went through it back in 1983-1984 Apple, Inc. was in a crisis and had to make important changes to make more profit. Matching competitors is very important, a business could go down in profit if other companies come out with a similar product. Improved decision making is very important due to change in a product or being able to come out with a new product. Strategic management is setting priorities and goals within a business. It’s used with upper management to strengthen a company and prepare for future outcomes. References Nations, Daniel, ed. The Amazon Kindle Fire vs the Apple iPad. N. p. , n. d. Web. 5 May 2013. lt;http://ipad. about. com/od/Tablet_Computers_eReaders/a/The-Amazon-Kindle-Fire-Vs-The-Apple-Ipad. htm Sind, M. , amp; Yoffie, D. B. (February, 2008) Apple, Inc. (Case Study) Retrieved from Harvard Business Online website

The Importance of Communication in Business

The Importance of Communication in Business Communication is the lifeblood of a business organization; no organization can succeed or progress, without effective communication. We can build good relationship within or outside the organization, build organizational image etc, through effective communication In any business, the communication of information is an essential part of three key business activities: Management decision-making (without relevant, timely and accurate information, decision-making at any level becomes quite tricky!) Co-ordination of departments, teams and groups e.g. making sure that marketing, production and administration know what each other is doing, when and why Motivation of individuals A program that focuses on general communication processes and dynamics within organizations. Includes instruction in the development and maintenance of interpersonal group relations within organizations; decision-making and conflict management; the use of symbols to create and maintain organizational images, missions, and values; power and politics within organizations; human interaction with computer technology; and how communications socializes and supports employees and team members. (Source: U. S. Department of Education) Process: Communication is a dialogue, not a monologue. In fact, communication is more concerned with a dual listening process. For communication to be effective, the message must mean the same thing to both the sender and the receiver. Directions: Horizontal/Literal Diagonal Vertical Horizontal/Literal Communication: Horizontal communication normally involves coordinating information, and allows people with the same or similar rank in an organization to cooperate or collaborate. Communication among employees at the same level is crucial for the accomplishment of work. Horizontal Communication is essential for: Solving problems Accomplishing tasks Improving teamwork Building goodwill Boosting efficiency Diagonal Communication: Less common; this involves interdepartmental communication by people at different levels. A good example would be a project team drawn from different grades and departments Vertical Communication: In a organization, vertical communication is communication between those who are on different levels of authority within the company. Examples are: manager to employee, general manager to managers, foreman to machine operator, head of the department to cashiers, etc. It includes Top-Down and Bottom-Up communications. Top-Down Bottom-Up Top-Down Bottom-Up TOP-Down Communication: A flow of communication from higher management to the lower level in the form of Orders, Instructions, and Plans. Information flowing from the top of the organizational management hierarchy and telling people in the organization what is important (mission) and what is valued (policies). Downward communication generally provides enabling information à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ which allows a subordinate to do something e.g.: Instructions on how to do a task. This type of communication is needed in an organization to: Transmit vital information Give instructions Encourage 2-way discussion Announce decisions Seek cooperation Provide motivation Boost morale Increase efficiency Obtain feedback Bottom-Up Communication: A flow of communication from the lower level to high level in the form of suggestions, feedback, and information. Upward communication is the flow of information from subordinates to superiors, or from employees to management. Without upward communication, management works in a vacuum, not knowing if messages have been received properly, or if other problems exist in the organization. By definition, communication is a two-way affair. Yet for effective two-way organizational communication to occur, it must begin from the bottom. Upward Communication is a mean for staff to: Exchange information Offer ideas Express enthusiasm Achieve job satisfaction Provide feedback Top-Down Vs. Bottom-Up: External Communication External communication covers how a provider interacts with those outside their own organization. This may be with the public, employers, community organizations, local authorities, job centres, careers offices, funding bodies, specialist agencies and other training providers. External communication is equally important as internal communication to provide a link between the employees and the shareholders and other third parties. As a matter of fact, external communication is considered as lifeblood of the modern business. External communication can be arranged by oral or verbal communication as well as through written media. Television Telex Telephone Tele printer Transmitters NWD ISD and other modern sophisticated communication technologies can be used for external communication. Written media like letters, circulars, Jl1emos, notices, legal notices, newspapers, magazines, manuals, periodical reports, pamphlets etc., are also used towards external communication. External correspondence is mostly in written form except in extraordinary circumstances resorting to telecommunication services. Internal/Organizational Communication Internal communication involves the communication that exists within a company and can take many forms. Key to the success of an organization is communication from within. In order to effectively engage in two-way symmetrical relations, (the goal of public relations practitioners), communication is essential internally. With increased use of e-mail, managers substitute face-to-face communication with email. Medium of internal Communication Employeesà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ Handbook House Magazines and Newspapers Memos/Letters Reports Bulletin board notices Posters Computers/e-mail/Fax Functions of Internal and External Communications. Technology has rapidly expanded the types of internal and external communication available to organizations. The diagram illustrates the vast array of internal and external communication available. Combined together internal and external types of communications allow various sectors of the local, national and international community to interact, liaise and conduct business. Communication Policy Communication policy defines and controls the process of communicating information in order to make relation with other institutions, professional bodies and within organization. It also helps in making relation with the public through internet, publications and events. It gives us guidelines and restrict us in order to share information. Communication policy defines controls the process of communicating information Relations with other institutions, professional bodies, and within organization Relations with the public through Internet, publications and events; and Relations with the media. Protecting Sensitive Information: Information technology (IT) security is indispensable to an organizationà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s ability to conduct business and achieve its objectives Security requirements affect almost every business process and system, and successful security measures help protect a businessà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ brand value, stakeholder confidence, risk management strategies, and compliance status. Requirements vary among industries, geographies, and regions, but the need to protect privacy, retain important data, and facilitate e-discovery are common to all For example: Once we initiative the activity in our office. We feel as we are not having Privacy Data confidentiality must also include intellectual property and other company-sensitive data to protect stakeholder interests and brand reputation. Data Retention Requirements Data retention requirements are mandated in support of right-to-information acts or in securities trades, which may be investigated years after the fact Data retention laws vary across geographies but have the common theme of specifying that certain types of data be stored for specific periods of time Privacy Pervades e-Discovery and Data Retention Requirements Tamperproof with an audit trail (data integrity) Only viewable by authorized parties (access control) Protected from viewing by unauthorized parties (confidentiality through encryption) Conclusion Developing a communication strategy and its implementation in an efficient and effective manner is quite beneficial for an organization. You need to be transparent about your goals and values. Consistency has to be maintained. You need to adopt comprehensive persuasive methods for that. All this needs a long term focus. The importance of communication in business The importance of communication in business In our daily life, communication is a tool that uses to maintain the relationship in between people surrounded us, and there will be no different in business environment. Business firm used communication tools or channel to start or maintain a good relationship with their shareholder and stakeholder. From the separate understanding, business is à ¢Ã¢â€š ¬Ã‚ ¦any goods and services that sent into the market for purpose of exchanging benefits or profits (Dictionary.com). Communication is à ¢Ã¢â€š ¬Ã‚ ¦a process that involves exchange of information, thought, idea and emotion from sender to receiver through one or two way deliveringà ¢Ã¢â€š ¬Ã‚ ¦ (Buzzle.com). So business communication can be defined as a process or tools that helps business to show, promote and present their companys latest products/ services, current promotion, their market positioning, and situation. For example, Digi telecommunication will compare their product is better that others in their promotion catalog. Source: DiGi Prepaid Campus Plan Rate, 2010. By having a good communication system, it will lead the business to success. Business communication is divided in to two types that are internal and external. Internal communications is the communication system that used inside the company and it has function of building up a good relationship in between the company and their staff and it give the opportunity for employees and employer to develop strategy for improvement and setting goals together. Internal communication is also a fundamental element for maintaining an organization, improving employees morale value, promoting a vivid message and reducing errors in communication. In the other side, external communication is functioned form outside of the company. It involved goods and services production, advertising of the company, public relation, and the business negotiation. External communication is important because it exchanged the information or messages in between the organization with other firms, groups, which linked to pro fit making. Besides that, external communication main task is to make the organization cooperate smoothly with the public/stakeholder such as suppliers, investors and stockholders and also to promote a bright image on their goods or services to current and new potential customers. Business communication is an important tool for the company which will help every company to improve and also develop themselves. Context There are certain channels of communication that helps business to promote them, which are Internet, Print (Publication) Radio, Television, Ambient Media, Outdoor and words of mouth. Internet First of all, as the technology is kept on innovating, Internet has become a common tool to communicate and information transfer. By using Internet, people can communicate easily and efficiently, thought internet people can communicate with their friend and family around the world at anytime. From this perceptive, Internet has attracted people to do business through it. When goods and services sell through online, the market is global wide means thats the goods or services can be purchase by the people around the world. The internal business communication system in Internet is thats the employees can communicate and deliver important notice through email to their superior or subordinate. There are many company have their own email system for prevent their important file or data spread to the outside world and also to make their employees work more easily. For example; Eastern Oxygen Industries Sdn Bhd has their own email system for their employees to keep update on the situation of t he production and also let them done their works easily when they are not in the office. Image from: http://mymail.eox.com.my/mail/index.html. In other side, the external influences of business communication tools are usage of the internet advertising and promotion to attract the attention of potential customers. Normally, marketers/firms will choose the high hits website to invest in, such as YouTube, Amazon, Lelong.my, EBay, and etc. By putting their advertisement banner at the website, the firm can save time and costs. Because consumers can come across the product randomly at anytime that they are convenient as long as they surf the Internet. Another advantage of promoting through Internet is it does not require any specific product and consumer groups. All products can be promoted regardless of the type of product and the targeted consumer groups. Resource from: Amazon.com Besides promoting through website banner, marketer will also keep updated with their consumer by sending them the latest promotion or deals through email. Marketer will use their existed data base to create the business opportunity. This method is often used by software firms such as Megaupload, cyberlink, brothersoft and others to ensure that their customers are aware on their promotion and allowing them to purchase cheaper software product than other consumers. This will make the customers feel prioritized and appreciated by the firm. The image: Cyberlink Promotion through e-mail. Publication Print (Publications) Publications are another tool that business used to communicate with public. Its included all the product of books or other written material thats available in the market to anyone who interested through distribution or offer for the purpose of selling or other monetary exchange. (Thefreedictionary.com) Publications involve all information that is made to public through printing distribution such as newspaper, brochures and magazines. Advertising in newspaper is one of the most common forms and effective way to promote products because people will read the newspaper every day. Normally newspapers have two types of advertisement. First is text advertisement, it normally used as vacancy and small retail advertisement. It is a communication tools that help the company to sending massages to the external environment of the company and help them to find new members. For example, when a company advertise a hiring advertisement in newspapers, people that had read this advertisement will know this company is lacking of employees and they will intro their friend that are qualified to have a try on that position. Another type of newspaper advertising is display advertisement, these advertisement are normally use by commercial firm. It helps the firm to promote their goods and services, and also help them to attract new customer group. Magazines are another type of publication thats used by marketer to promote products. There are different types of magazines such as business magazines, mobile magazines, schools magazines, and etc. The advertisement are made depends on the target market of the goods and service. For example; Ring tone supply firm will do their advertisement in Mobile phone magazines such as e-ring, Sogi and others. Besides advertising on the companys goods and services in magazine, business magazines are also important to the business for seeking new investor to the company. These business magazines will interview the high potential company and analyze the company future movement for the reader. Sometimes business firm will also announce their company new project or upcoming plan to the magazine, and reader will able to know the company current and follow this information to do invest. Example of business magazines are Forbes, Times magazines, Business Week, The Edge TM and others. Radio Radio is another channel of business communication that helps business to communicate or deliver information to customer or stakeholder. Radio advertisements are only transmitted orally but it can reach a wide range of consumers because we normally use car or others transport to our destination and when we had stuck in the traffic jam we will turn on the radio. From this perspective, the radio advertising is targeted on the driver so the advertisement needs to be very specific and full of sense of humors. There are some disadvantage on advertising through radio thats are the advertisements does not have any visual or text, so it might fail attracting youngster especially students and young adults because they like visual stimulus more than oral stimulus. Television Television advertisement is an effective way to promote product and attract customers to purchases the product. The factor of television advertisement is different and more success than radio advertisement is because of it contains vivid motion and picture to promote the product. Besides that, it has interesting description and creative presentation that gave the products or services the chances to gain audiences attention and make them got the desire to buy or own the products. There are also some factors that firms need to consider when promoting their product through television. First, the advertisements fees of television are very costly; the firm needs to consider the time, way and contents to be broadcast. A research done by eHow.com, said that the estimated average cost of producing a 30-second commercial advertisement in the Super Bowl are coasted around $2.4 million, so the business need to fully utilized the costs to reach the targeted consumer group. The second factors that need to be considered are related to the demographic of the target market. Marketer need to follow the demographic of their potential consumers to fix in the broadcast time of their advertisement. For example, toys products advertisements need to broadcast on the time that kids were watching cartoon. By following these ways, business firm will be able to spend more efficiently on attracting their targeted consumer groups. Words of mouth The last business communication channel is word of mouth. Word-of-Mouth is the most efficient communication tools but it also a high risk utility. Word-of-Mouth is the informal communication between consumers of particular goods and services (Neal et al, 2004). If the firm used word of mouth as the tools to promote their product, they need explain the product clearly to ensure that the listener can fully understanding about the information because the listener might spread the false or blur information about the product to their friends or relatives if they didnt understand clearly, and this will cause the business to have a bad images/reputation on their product although it is a good product. Normally, the people who run the Word-of-Mouth tools are the opinion leader of any group. Opinion leader is defined as à ¢Ã¢â€š ¬Ã‚ ¦an individual who has a greater long-term involvement with a product category than the non-opinion leaders in his or her groupà ¢Ã¢â€š ¬Ã‚ ¦ (Neal et al, 2004) The characteristic of an opinion leader are they can interpersonal communicate with their follower and observe the followers consume behaviors, have the similar demographic characteristics with the follower and have involvement with a product category than the non-opinion leaders in his or her group. So marketer will targeted these opinion leaders when they are using Word-of-Mouth as the business communication tools to promote or attract to purchase their goods and service. Examples of opinion leader are CEO, parents, and etc. For example, when the parents are using Maxis as the telecommunication tool, then their children will follow them. Conclusion As a conclusion, business communication is the key to success as the business wont succeed without communication. The reason of business communication is a fundamental element to business is because it helps the company to communicate with their employees and help them to motive, satisfy, and fulfill their employees need and wants. In another side, it also helps the employees to understand the company target goals, future achievement, the company policies and authority, and etc. Besides that, business communication tools also help the business to promote their goods and services to the public through all kind of advertising path. But advertisements are very costly for the business so the types of advertisement are the main issue that the company needs to consider. The company needs to follow their products and target market to choose their advertising tools. For example, if the company is selling toys and their target market are kids so they need to do advertisement in television on cartoons channels. Besides that, business communication tools also help the company to communicate with the public. For example, the vacancy advertisement in newspaper has sent the information to the public thats the company is lack of employees so those who want to find job can go this company for an interview. However, business communication has also disadvantages but it depends how the business utilize it. APA Referencing Consumer behavior: implication for marketing strategy, Neal, Quester and Hawkins, 2004, Australia: McGraw-hill Australia Pty Limited. Dictionary.com, 20 march 2011 1312 hours, http://dictionary.reference.com/browse/business Buzzle.com, 21 march 2011 1520 hours, http://www.buzzle.com/articles/communications/ Ehow, Fenell, 22 March 2011 1436 hours, http://www.ehow.com/about_5448301_average-cost-tv-commercial.html Thefreedictionary, Farlex, 30 March 2011 1444 hours, http://legal-dictionary.thefreedictionary.com/Print+publication

Youth Rebellion and Counterculture :: Papers

In both of the books, there are some central themes. Among them are self expression through music and sex. The media also plays a role in both of the books, however much more so in Douglas's. Douglas is more of a activist from within, more of a bystander than is Janis Joplin. Janis, from the start, is a rebel who did not want to be confined by the shackles of society. She was rebellious from high school and continued to be throughout her life. People like Janis, who participated in many movements as well as became a well-known icon, was able to get in touch with the youth. Women looked to Janis, as well as many others, for inspiration. Janis cut through many racial and gender lines with her music and public displays of sexual and individual freedom. Unfortunately, Janis did not live long enough to see the women's movement, in which she played a notable role. In Where the Girls Are, Susan Douglas talks about herself as part of the baby boom generation. From the beginning of the book, she concentrates on the media's role in the female psyche. She begins by describing the fact that her generation was extremely large, and the media knew it. Douglas talks about the media's role in programming young girls to believe that they are "the chosen people," and that they could do anything. They were told that they have opportunities beyond their mother's wildest imaginations. The television, however, sent mixed messages, as the news demonstrated the conflict, inequality, and insecurity in the world. This confused these children because none of this was shown on the shows. Moreover, the shows depicted the women's role as her husband's keeper. Cartoons, particularly Disney cartoons, showed the same types of bias and sexism. In 1961, Jacqueline Kennedy became first lady, and she became an important symbol for the baby boom girls. Douglas, being exposed to all of this media, knew one thing for sure, she didn't want to end up like her mom. In this respect, the media played a huge role in the lives of Douglas as well as millions of other people.