Regulatory Framework Of UK Financial Market Finance Essay - Free Essay Example

Sample details Pages: 11 Words: 3197 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? The Financial Services Authority (FSA) is an independent non-governmental body (quasi-judicial body) and a company limited by guarantee that regulates the financial services industry in the United Kingdom. It aims to promote efficient, orderly and fair financial markets, to help retail consumers achieve a fair deal and to improve its business capability and effectiveness. The Financial Services and Markets Act 2000 (FSMA) gives the FSA following statutory objectives: Statutory objectives The Financial Services and Markets Act imposed five statutory objectives upon the FSA: market confidence: maintaining confidence in the financial system; public awareness: promoting public understanding of the financial system; financial stability: contributing to the UKs financial stability; consumer protection: securing the appropriate degree of protection for consumers; and reduction of financial crime: reducing the extent to which it is possible for a business carried on by a regulated person to be used for a purpose connected with financial crime Don’t waste time! Our writers will create an original "Regulatory Framework Of UK Financial Market Finance Essay" essay for you Create order Actions relating to the 2007-2009 sub prime crisis The FSA has been held by some observers to be weak and inactive in allowing irresponsible banking to precipitate the credit crunch which commenced in 2007, and which has involved the shrinking of the UK housing market, increasing unemployment (especially in the financial and building sectors), the public acquisition of Northern Rock in mid-February 2008, and the takeover of HBOS by Lloyds TSB. On the 18th of September 2008, the FSA announced a ban on  short selling  to reduce volatility in difficult markets lasting until January 16, 2009 In the UK, there is a choice of two principal institutions that provide public markets for equity securities. These are: The London Stock Exchange; and PLUS Markets Group London is a highly attractive international centre that offers applicants access to a vast base of investor capital. This, together with the UKs more principles based approach to regulation and corporate governance (which stands in marked contrast to many prescriptive regulatory overseas regimes), results in the London market providing a more cost-effective offering with a lower cost to access capital than its counterparts in the US, The London Stock Exchange plc Founded in 1801 it is one of the largest Stock Exchanges in the world with over 1,600 companies listed on the Main Market, coming from over 60 countries and spread across 42 sectors. In 2006  £8.4 billion of funds were raised in new issues on the market with 66 new companies being listed. A further feature is the liquidity it offers for shares traded on the secondary market (i.e. after IPO). It also offers the widest investor base of all the UK markets and its secondary market is also the most liquid. A significant portion of this liquidity is generated by the inclusion of shares in the FTSE Index Series, which covers all primary listed shares on the Main Market (but not secondary listed shares or Depository Receipts Structure The London Stock Exchange has four core areas: Equity markets enables companies from around the world to raise capital. There are four primary markets; Main Market, Alternative Investment Market (AIM), Professional Securities Market (PSM) and Specialist Fund Market (SFM). Trading services highly active market for trading in a range of securities, including UK and international equities, debt, covered warrants, exchange traded funds (ETFs), Exchange Traded Commodities (ETCs) Reits, fixed interest, contracts for difference (CFDs) and depositary receipts. Market data information The London Stock Exchange provides real-time prices, news and other financial information to the global financial community. Derivatives A major contributor to derivatives business is EDX London, created in 2003 to bring the cash equity and derivatives markets closer together. PLUS Markets Group plc In July 2007, PLUS Markets Group plc was granted Recognised Investment Exchange status by the FSA (Financial Services Authority), PLUS operates two primary markets: PLUS-listed; and PLUS-quoted offerings PLUS-quoted PLUS Markets cater for international companies, but it does not have the overseas profile that AIM (or the Main Market) has acquired over recent years. PLUS-quoted is an exchange regulated market and has a similar regulatory regime to that of AIM. The PLUS Rules are very similar to those of AIM. Similarly, those sections of the Prospectus Rules that apply to AIM quoted companies also apply to PLUS-quoted companies. Financial instruments traded in secondary market in UK Equity shares This type of share is called as common stock. As a unit of ownership, common stock typically carries voting rights that can be exercised in corporate decisions. Preferred stock Preferred stock differs from common stock in that it typically does not carry voting rights but is legally entitled to receive a certain level of dividend payments before any dividends can be issued to other shareholders. Convertible Preference Shares Convertible preferred stock is preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Shares of such stock are called convertible preferred shares (or convertible preference shares in the UK) Derivatives The derivatives market is the financial market for derivatives, financial instruments like futures contracts or options, which are derived from other forms of assets. It has no independent existence without an underline asset and these are basically designed for investors to manage the risk efficiently and at the same time allowing them to hedge or speculate the market. Forwards A forward is a non-standardized contract between two parties to buy or sell an asset at a specified future time at a price agreed today. This is in contrast to a spot contract, which is an agreement to buy or sell an asset today. It costs nothing to enter a forward contract. The party agreeing to buy the underlying asset in the future assumes a long position, and the party agreeing to sell the asset in the future assumes a short position. The price agreed upon is called the delivery price, which is equal to the forward price at the time the contract is entered into. Futures Futures is a standardized contract between two parties to buy or sell a specified asset of standardized quantity and quality at a specified future date at a price agreed today (the futures price). The contracts are traded on a futures exchange. Futures contracts are not direct securities like stocks, bonds, rights or warrants. They are still securities, however, though they are a type of derivative contract. The party agreeing to buy the underlying asset in the future assumes a long position, and the party agreeing to sell the asset in the future assumes a short position. Options An option is a derivative financial instrument that establishes a contract between two parties concerning the buying or selling of an asset at a reference price during a specified time frame. During this time frame, the buyer of the option gains the right, but not the obligation, to engage in some specific transaction on the asset, while the seller incurs the obligation to fulfil the transaction if so requested by the buyer. The price of an option derives from the value of an underlying asset (commonly a stock, a bond, a currency or a futures contract) plus a premium based on the time remaining until the expiration of the option. Swaps A swap is a derivative in which counterparties exchange certain benefits of one partys financial instrument for those of the other partys financial instrument. The benefits in question depend on the type of financial instruments involved. For example, in the case of a swap involving two bonds, the benefits in question can be the periodic interest (or coupon) payments associated with the bonds. Specifically, the two counterparties agree to exchange one stream of cash flows against another stream. Usually at the time when the contract is initiated at least one of these series of cash flows is determined by a random or uncertain variable such as an interest rate, foreign exchange rate, equity price or commodity price. Global Depositary Receipts (GDR) is a certificate issued by a depository bank, which purchases shares of foreign companies and deposits it on the account. GDRs represent ownership of an underlying number of shares. It facilitates trade of shares, and are commonly used to invest in companies from developing or emerging markets. Prices of GDR are often close to values of related shares, but they are traded and settled independently of the underlying share. For example, UK investors wanting to buy shares listed in emerging market countries like Russia can face a tough time when there are government restrictions on who can own and trade them. GDRs offer a solution. Instead of trying to buy the share in its local market, the investor buys a depositary receipt, which represents the shares, instead. These are issued by investment banks, listed in the investors home market and traded separately from the underlying share. Apart from easier access, the key advantages of global depositary receipts include the fact t hey are priced in the investors home currency (typically US dollars), carry lower dealing costs and pay more timely dividends, again in dollars, than the shares they represent. Whilst similar in most respects to American Depositary Receipts, GDRs tend to be listed in European markets like the London Stock Exchange. Related innovative instruments Swaption: A swaption is an option granting its owner the right but not the obligation to enter into an underlying swap. Although options can be traded on a variety of swaps, the term swaption typically refers to options on interest rate swaps. There are two types of swaption contracts: A payer swaption gives the owner of the swaption the right to enter into a swap where they pay the fixed leg and receive the floating leg. A receiver swaption gives the owner of the swaption the right to enter into a swap in which they will receive the fixed leg, and pay the floating leg. Swaption = option, on an interest rate swap A pay-fixed swaption protects its purchaser from interest rates rising above a chosen rate, the strike rate. Likewise, a receive-fixed swaption protects its purchaser from falling interest rates. The cost (premium) of the swaption depends on several factors; but for otherwise equivalent pay-fixed swaptions the lower the fixed rate, the higher the swaption premium. The opposite dynamic holds for receive-fixed swaptions. The interest rate at which the cost of a pay-fixed swaption equals the cost of an otherwise equivalent receive-fixed swaption is referred to as the at the money swap rate for that period. Mortgage-Backed Security A mortgage-backed security (MBS) is an asset-backed security or debt obligation that represents a claim on the cash flows from mortgage loans through a process known as securitization1. Credit Default Swap A credit default swap (CDS) is a swap contract in which the protection buyer of the CDS makes a series of payments (often referred to as the CDS fee or spread) to the protection seller and, in exchange, receives a payoff if a credit instrument (typically a bond or loan) experiences a credit event. 1Securitization is a structured finance process that distributes risk by aggregating assets in a pool (often by selling assets to a special purpose entity), and then issuing new securities backed by the assets and their cash flows. The securities are sold to investors who share the risk and reward from those assets. Collateralized Debt Obligations Collateralized debt obligations (CDOs) are a type of structured asset-backed security (ABS) whose value and payments are derived from a portfolio of fixed-income underlying assets. CDOs securities are split into different risk classes, or tranches2, whereby senior tranches are considered the safest securities. Interest and principal payments are made in order of seniority, so that junior tranches offer higher coupon payments (and interest rates) or lower prices to compensate for additional default risk. Equity Cash Senior notes Interest Principal Assets sold to the SPV Funding Special Purpose Company Mezz notes Originating bank Debt/Equity Hybrid A debt/equity hybrid is a financial instrument that contains both debt and equity characteristics. Hybrid instruments can be designed so that they exhibit changing proportions of debt and equity over time. In addition, hybrid instruments may incorporate derivative characteristics. Some of the better known hybrid instruments include certain classes of preference shares, convertible notes, capital protected equity loans, profit participating loans, perpetual debt, endowment warrants and equity swaps. All Debt and No Equity No Debt and all Equity Some Debt and Some Equity This diagram above shows that corporations finance their activities by raising debt (such as issuing bonds payable) or by issuing common shares (equity) or do a little bit of both. Corporations (and the capital markets) are very inventive in designing not only new types of derivative instruments, but also new types of primary securities that have characteristics of both debt and equity. These new types of securities are called hybrid securities or investment vehicles. 2Tranche is one of a number of related securities offered as part of the same transaction. In the financial sense of the word, each bond is a different slice of the deals risk. Transaction documentation usually defines the tranches as different classes of notes, each identified by letter (e.g. the Class A, Class B, Class C securities) with different bond credit ratings. Market Derivatives in UK and various crises Dot-com bubble burst, 2001 The dot-com bubble was a speculative bubble covering roughly 1995-2000 during which stock markets in industrialized nations saw their equity value rise rapidly from growth in the more recent Internet sector and related fields. While the latter part was a boom and bust cycle, the Internet boom sometimes is meant to refer to the steady commercial growth of the Internet with the advent of the world wide web as exemplified by the first release of the Mosaic web browser in 1993 and continuing through the 1990s. The period was marked by the founding (and, in many cases, spectacular failure) of a group of new Internet-based companies commonly referred to as dot-coms. A combination of rapidly increasing stock prices, market confidence that the companies would turn future profits, individual speculation in stocks, and widely available venture capital created an environment in which many investors were willing to overlook traditional metrics such as P/E ratio in favour of confidence in techn ological advancements. The Sub prime crisis, 2007-2009 In the UK, where the financial market is most developed, H1 2008 turnover for several market derivatives reached a respectable 38% of the deal volume transacted in the base market. However, the outstanding notional value of these derivatives still accounts for only roughly 1% of the size of the UK commercial investment market. At this stage, market derivatives failed to effectively mitigate property risk. There was still a long way until their market potential was reached. Equivalent to todays proportions for equity derivatives, the potential is estimated to be about 35ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã¢â€ž ¢40% of the base market size. However, although the derivatives market is still small, its effect on the subprime crisis was already valuable. First, property derivatives might have accelerated the market clearance. Forward prices reflect, in equilibrium, the expectations of the market. In doing that, they are much more timely and realistic than forecast surveys and thus catalyse more realistic valuations. Liquidity: As market derivatives are standardized, trading volume is concentrated in a small number of fungible contracts. For example, in the heterogeneous market for physical properties and for MBS, liquidity typically evaporates in a sharp downturn. In Q2 2008 for example, transaction volume for UK commercial properties tumbled to GBP 6.1 billion, a 60% drop from the previous year. According to a survey, investors are waiting to see how far values fall. Further, the Royal Institute of Chartered Surveyors (RICS) reported a collapse in housing transactions, mainly due to the inability of many to secure mortgage finance. Time-on-market for housing more than doubled compared to the previous year. Finally, liquidity in the MBS market globally collapsed in 2008. At the same time, the nascent property derivatives market did not dry up but reached record trading volumes. Global nature of the financial market The OTC segment operates with almost complete disregard of national borders. Derivatives exchanges themselves provide equal access to customers worldwide. As long as local market regulation does not impose access barriers, participants can connect and trade remotely and seamlessly from around the world. The fully integrated, single derivatives market is clearly a reality within the European Union. Taken as a whole, the derivatives market is truly global. For example, today almost 80 percent of the turnover at Eurex, one of Europes major derivatives exchanges, is generated outside its home markets of Germany and Switzerland, up from only 18 percent ten years ago. Europes leading role within the derivatives market Today, Europe is the most important region in the global derivatives market, with 44 percent of the global outstanding volume significantly higher than its share in equities and bonds. The global OTC derivatives segment is mainly based in London. Primarily due to principle-based regulation, which provides legal certainty as well as flexibility, the OTC segment has developed especially favourably in the UKs capital. The unrestricted pan-European provision of investment services, in place since the introduction of the European Unions Investment Services Directive (ISD) in January 1996, has strengthened the competitive position of Europe in the global market environment. Many European banks are currently global leaders in derivatives. Historically, large derivatives exchanges were almost exclusively located in the US. Strong European derivatives exchanges appeared only after deregulation and demutualization in the 1980s and 1990s. These European exchanges were more independent of their users, who had been less supportive of significant changes at US exchanges. They revolutionized trading by introducing fully electronic trading and by setting industry standards. Over the years European players have strengthened their position, increasing their global market share from 24 percent in 1995 to almost 40 percent in 2007. They are now among the largest exchanges worldwide in a sector where the biggest players are international exchange groups that offer trading globally. Drivers of innovation Competition is the major driving force behind these product and technology innovations. Every product innovation is an opportunity for exchanges and broker-dealers to compete for new trading volumes. Consequently, even product segments that have been introduced recently are heavily contested. Meanwhile, technological innovations can often be a good way to enter a market. Electronic trading helped Eurex win the market for derivatives on long term German government bonds (Bund Future) the benchmark in European fixed-income markets, which had been served mainly by UK derivatives exchange LIFFE (London International Financial Futures and Options Exchange) before 1996. Facts and figures mentioned above, when summed up, gives a brief idea about secondary markets in UK. To summarise what has happened to the UK in the past ten years it would be as follows. Investment and growth have remained relatively subdued, compared with previous periods and with more dynamic growth areas, while at the same time being fairly stable. The UK has benefited from high levels of foreign direct investment. The finance sector became more important to the UK in both an absolute and a relative sense, and both domestically and in relation to the world economy, while manufacturing continued its long term decline. Household wealth grew mainly as a result of the housing bubble and the rise in the stock market, which along with easy credit and cheap imports led to a boom in retail consumption.

Online Slot Games And Online Gaming - 1792 Words

Blog 16 – Your guide to dominating the world of online slot games For the better part of a decade, it was card games that dominated the online casino landscape. But as 2010 rolled around there was a shift in dynamic that occurred, as card games were pushed to the wayside for something altogether more modern. Online slot games emerged from the shadows and have gone on to become the leading game genre within the online casino landscape. From penny slots to the big time, slot games are now anywhere and everywhere you look these days. The key element within online slots play is luck, but that isn’t all that players need to consider when they spin the reels. There are actual several elements within the game that can be controlled by the†¦show more content†¦With the rules of play in the back of your mind, you certainly have a better chance of making your free spin bonus count. After getting to grips with a game format, you need to look at the personal aspects of your game. Betting limits are key to online slots success, as they are what players must use to protect themselves when times to get tough. These limits need to take the form of a loss border, a no payout cap, and a target winnings amount. Loss borders are absolutely critical; as such a limit is the bottom end of the playing spectrum. It works as a number, that when hit, should signify the time that you get up and walk away from the game. No payout caps work in a similar fashion, just in the sense that it addresses the amount of money you can throw into a game before you give it up and move on. A target winnings amount is in place to prevent greed taking hold, as when it is hit a player should take their winnings and cash out. The final piece of the puzzle when it comes to online casino game strategy is choosing the right place to play. While not always easy to do, finding the right place to play is pivotal online casino success. Before you start spinning the reels consulting an online casino portal is an absolute must, as this is where you are going to find the cream of the crop when it comes to leading online casinos. Compare what you find there and you are likely to find that your online slots

Gender and Information Technology Essay Example For Students

Gender and Information Technology Essay Information and communications are playing an increasingly important role in economic and social development. Meanwhile, the recent developments in communications technology have progressively reduced the barriers to communicating over distances. At the same time, computers have enormously increased the capacity to accumulate and access information sources and data. Combined with communications technology, the possibilities for information access are almost infinite. In todays information society, the rapid access to relevant information is indispensable for timely intervention in most realms of human activity; access to this technology is therefore a key to successful action. It is widely recognized that in order for the world to be able to advance in the quest for sustainable development, peace, social justice and racial, ethnic and gender equality, it is fundamental for citizens groups and organizations throughout the world to have greater participation in the decisions that concern them and to develop their capacity to propose viable alternatives and priorities for economic and social development. This possibility depends to an ever-greater extent on the access of these groups to reap the benefits offered by the new and emerging communications and information technology. In particular, new decentralized technologies such as computer networks and fax, when democratically employed, constitute powerful instruments for socializing information, which could contribute to securing the advances made by humanity, such as fuller participation of women in all spheres of activity. Women in particular, tend to be under-represented in terms of access to these technologies, and especially women from less developed regions and from marginalized groups. Women from these social groups are precisely those who make up the work force that produces computer components, in working conditions that are often damaging to their health; similarly, women in low-grade technical and service jobs also make up the largest group of computer users, while many others have lost their jobs to increasing automation. In contrast, women are less present in fields such as computer systems administration and in technical development. They are also proportionally under-represented as users of computer networks. As a result, women have less access than men to the information and networking resources that these networks offer; and they have fewer possibilities of orienting development of this technology to answer their specific needs. This is not something that women have been pigeonholed into because of prejudice or restraint from abilities. I tired of women crying wolf on this particular topic due to lack of equality. Women have the same chances and rights as men in the IT field. Just because of the boom of high paying jobs that are being offered in this new century women want a piece of the pie, but in some cases they would rather complain, rather than get the proper training to be qualified for the positions. This is not to say that there maybe some prejudice against the hiring of a woman because she is a woman, that particular aspect is not part of my argument. I believe that there is not any inequality of opportunities in the IT profession. I believe that a lot women do not care to pursue this field and this is the reason for the so called inequality. Bibliography: .

Yet Messina Essay Example For Students

Yet Messina Essay The weaknesses and wrongs of Messina and its incapability for civilised seriousness, all cluster in this one obnoxious speech. However Beatrice and Benedick stand apart. Where Messina’s surface social practices are concerned, these two are just as susceptible to error as the rest of Messina and both are extremely fond of gossip and rumour. In the masked dance they play the role of slanderous gossip-bearers to each other and both are fond of eavesdropping and spying which lays them open to Don Pedro’s love-trick. We will write a custom essay on Yet Messina specifically for you for only $16.38 $13.9/page Order now However, Beatrice and Benedick are not as convention-bound and as role-bound as the others. They are not fixed in set roles by obedience to social stereotypes or artificial notions of pride and honour. They reveal their own blend of wit, romance and appropriate seriousness, unique in the world of Messina, in the two remarkable scenes where mutual love is declared in the shadow of Hero’s disgrace. Here we have an exchanged avowal of surprising love, and Benedick’s initial shocked refusal of Beatrice’s command ‘Kill Claudio’, followed by acceptance of his role as Beatrice’s champion. It is a scene with its roots in ancient chivalry, and is serious and worthy as a part of that tradition. Emotions run deep. There is a place for profound affection and for volatile anger. Yet conversation is also urbane, sophisticated and witty. The movement to and fro between comedy and seriousness in these scenes is an engagement of civilised and tender beings in a play of mutual discovery, and we witness all their suppleness of mind and feeling employed in the human art of growing and maturing. In their minds and emotions both Beatrice and Benedick display a kind of agility which is a condition of true life, and compared with them most of the other characters appear wooden and immobile, too easily trapped in destructive roles. These two lovers are unusual and unconventional citizens of this play’s comic world, but are also its most natural and successful ones. Their play on words between ‘hand’ and ‘hands,’ deploys wit for a wholly serious purpose and is a mark of exactly that free play between comedy and seriousness which sets Beatrice and Benidick apart from the rest of Messina. Claudio addresses Hero directly only three times in the play, each time briefly and each time in highly public circumstances of formal acceptance or rejection, whereas Beatrice and Benedick’s extensive, private interchanges could not be more emphatic, and it is Benedick who is able to drop his role of jester and by ceasing to joke break the fellowship in order to love. Beatrice and Benedick appear to us to be ‘realists’ because they are not idealists. Hero and to a slightly lesser extent Claudio are idealists. Beatrice and Benedick express Messina’s unruly margins and Claudio and Hero express its most serious aspirations. Claudio and Hero are idealists in the sense that they are fired by ideal visions of things, ‘ideal’ here meaning ‘the best imaginable’, the highest, the noblest, the purest. Idealism is the belief that what we really see around us is only the external appearance of something else, and that to get at it you must somehow have to get behind appearances. One of the play’s ironies is that it is the play’s ‘realists’ who will not take appearances at face value, but seek to get behind them. The jokes made by Beatrice and Benedick are sometimes blunt and crude, sometimes elaborate and self conscious. Puns, similes, metaphors, and paradoxes are all brought into play in their continual game of mutual insults and it is this aggressive verbal battle which pushes Beatrice and Benedick to the foreground of the play. Beatrice stands out from the rest of the women in Messina because she is as good at this kind of verbal game as any of the men, for she has taken over an area of discourse which the bachelors of Messina, and Benedick in particular, usually treat as a male preserve, a witty and aggressive word play which is used to ward off the prospect of marriage. .u924c470ca16a4e121bfbc53aa8059fe0 , .u924c470ca16a4e121bfbc53aa8059fe0 .postImageUrl , .u924c470ca16a4e121bfbc53aa8059fe0 .centered-text-area { min-height: 80px; position: relative; } .u924c470ca16a4e121bfbc53aa8059fe0 , .u924c470ca16a4e121bfbc53aa8059fe0:hover , .u924c470ca16a4e121bfbc53aa8059fe0:visited , .u924c470ca16a4e121bfbc53aa8059fe0:active { border:0!important; } .u924c470ca16a4e121bfbc53aa8059fe0 .clearfix:after { content: ""; display: table; clear: both; } .u924c470ca16a4e121bfbc53aa8059fe0 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u924c470ca16a4e121bfbc53aa8059fe0:active , .u924c470ca16a4e121bfbc53aa8059fe0:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u924c470ca16a4e121bfbc53aa8059fe0 .centered-text-area { width: 100%; position: relative ; } .u924c470ca16a4e121bfbc53aa8059fe0 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u924c470ca16a4e121bfbc53aa8059fe0 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u924c470ca16a4e121bfbc53aa8059fe0 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u924c470ca16a4e121bfbc53aa8059fe0:hover .ctaButton { background-color: #34495E!important; } .u924c470ca16a4e121bfbc53aa8059fe0 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u924c470ca16a4e121bfbc53aa8059fe0 .u924c470ca16a4e121bfbc53aa8059fe0-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u924c470ca16a4e121bfbc53aa8059fe0:after { content: ""; display: block; clear: both; } READ: Hamlet's words EssayIt is only Beatrice who will openly claim her fair share of lines in a conversation with a man, and it is only Beatrice who makes their kind of bantering language completely her own. Moreover, she can do this without seeming merely to be copying the men because Beatrice shares Benedick’s contempt for love and marriage. Beatrice equates a husband with ‘horns’, on the one hand a phallic symbol, but on the other the sign of a cuckold. Beatrice’s social position gives her a freedom the other characters cannot enjoy. She is not Hero’s sister and she is certainly an orphan. She has no parents in the play, and Leonato is her guardian. He calls her ‘niece’ a term which was used more broadly than it is now. She is related to Leonato and treated affectionately by him, but there is no suggestion that a dowry is one of her attractions and a dowry matters in the world of â€Å"Much Ado About Nothing† where Claudio coolly establishes Hero’s inheritance before Leonato signifies his approval of their troth. Beatrice is just a step down the social ladder and there is no serious prospect of her becoming the Princess of Aragon. Unlike Claudio, who initiates what is negative for his own honour, Beatrice initiates what is positive to honour her friend. If we are to save ourselves and the play from the emptiness of gossip, we need to grasp the conventions of the code of honour which govern the society of Messina. â€Å"Much Ado About Nothing† is best considered as a problem play, whose disturbing ending dramatises the inadequacy of the ideology by which its ruling classes rule. It is a comedy of social manners whose romance structure, with its improbable story, characters and denouement, makes deliberate play out of social tensions which in real life are not so readily resolved. It is an affectionate critique of upper-class manners, whose outwardness in matters of love and religion ran contrary to new expectations of the inner life that were becoming widely spread in Elizabethan England. For Beatrice and Benedick, their jokes become a means for them to resist the kind of love-relationship exemplified by Hero and Claudio. In the end the ‘happy-ending’ which sees Hero married off to Claudio is one fraught with contradictions, for the conventional relationship founded on romantic love which they exemplify has been severely satirised by Shakespeare. Beatrice and Benedick are offered to us as an alternative to Hero and Claudio, because they have managed to deploy their jokes and their bantering not only as a defence against love, but also as a language of love in order to define their own relationship, which is a more equal one than either of them could have expected in Messina. If the relationship between Beatrice and Benedick is not presented as an ideal, it is nonetheless seen as preferable to the fragility of an idealised, romantic love such as Claudio’s with its potential to collapse into loathing and disgust. And for Beatrice and Benedick to have wrested the language to their own ends in this way is in itself a cause for celebration.

Graduate School Philosophy and Goals Essays

Graduate School Philosophy and Goals Essays Graduate School Philosophy and Goals Essay Graduate School Philosophy and Goals Essay To me, jewelry design is an art and a way in which my creativity can shine through. Growing up, I watched as my mother expressed her creativity and talents through jewelry in Korea and could see the joy that it brought to her and to the people who bought her pieces. Later, as I began to design jewelry, I realized how incredible it felt to create something special for someone else, or even for myself. Often, the piece that you create has a sentimental value for someone else or, other times, it is the only thing in the world that the person has of any value. The feeling of fashioning something beautiful from nothing is one that has stayed with me from my youth. In terms of my goals, I have recently graduated after studying Jewelry Design for four years as an undergraduate, where I was on the Dean’s List. I have experienced the â€Å"real world† experience of working during a summer internship and at my current employer since my graduation. For me, a graduate degree would be the logical next step in furthering my career and my art of designing jewelry. While you cannot teach everything about designing jewelry as I believe some of it simply comes from inside a person and their own creativity, I am certain that I will be able to learn a great deal about the business end and be able to continue my education on issues that I found interesting as an undergraduate. As a graduate student, I hope to be challenged by the curriculum and be able to study under more professors, learn new techniques and experience more opinions so that I can take that into my own career and become a successful jewelry designer. :

ESL Beginning Level Writing Projects

ESL Beginning Level Writing Projects These short writing  assignments  are designed for  lower level classes  and give students an opportunity to write about a number of basic subjects including: studies, hobbies, travel, likes and dislikes, application forms, and work emails. Feel free to use the writing exercises in class or expand with further topics. Improve Descriptive Writing Students need to improve  sentence-level writing skills in order to expand into paragraphs. One problem students often face is a lack of descriptive language. Provide a list of descriptive adjectives, prepositional phrases, descriptive verbs, and adverbs and ask students to expand simple sentences into more descriptive language.   Descriptive Writing Exercise Use the following phrases to expand the simple sentences by adding  details with adjectives, prepositional phrases, and adverbs:   in the morning, slowly,  twice a week, down the street, at the moment, sweetly, fun-loving, a quick game of, quickly, difficult, long hot The children played soccer.I take classes.The man is singing a song.I get up early and take a shower. Application Forms Help students become fluent in understanding and filling in forms. If students are preparing for job interviews, create an extended application form using a standard job application template. Heres a less ambitious exercise to get students started. English Studies You want to go to a language school to study English. Fill in the application form. Finish the application form with a short paragraph about why you want to learn English. English Learners Plus Last NameMr./Mrs./Ms.First Name(s)OccupationAddressZip codeDate of birthAgeNationality Why do you want to learn English? Home Stay Program You want to stay with a family while you study English. Fill in the application form. In order to find the right family to stay with, write about your interests and hobbies. Family Exchange Last NameMr./Mrs./Ms.First Name(s)OccupationAddressZip codeDate of birthAgeNationality What are your hobbies and interests? Emails and Posts Students should also feel comfortable making short posts online and writing emails or informal letters.  Here are a few prompts to help them practice: You are on vacation at the beach. Write an email to your friend about your vacation.Write an email to a close friend with some new information about another friend.Post a comment on social media about a topic you are interested in.Write a short blog post to let your online friends know about your latest hobby. Short Emails to a Colleague Many students also need to use English for work. Provide prompts for students to help them practice writing work-related emails. Here are a few suggestions: Email a colleague to arrange a meeting for next week. Remember to arrange the time and meeting place.Reply to a colleagues email about a problem at work. Be sure to provide a solution or some advice about the problem.  Contact a business to ask some questions about one of their products. Use product and technical information found on the internet to ask more precise questions.   Continuing the Discussion Students should also practice carrying on a conversation via email. Use short prompts loaded with questions that demand a response: Read this email from your friend and respond to the questions: So, the weather has been great and we are having a fun time here in Switzerland. Ill be back at the end of July. Lets get together! When would you like to see me? Also, have you found a place to live yet? Finally, did you buy that car last week? Send me a pic and tell me about it! Comparing and Contrasting Help students become familiar with comparative language by asking them to use specific language such as subordinate conjunctions or connective adverbs. Here are a few suggestions: coffee/tea - even though, however, butshopping / hanging with friends - while, on the other hand, yetplaying soccer / watching TV - although, similarly, andcooking/eating - though, also, so,  studying English / studying math - like, even though, and The key to helping lower level students with writing is to keep the task very structured. Teachers sometimes ask students to produce longer writings such as essays before students have control of sentence-level writing skills. Make sure to help them build the skills before they move on to more ambitious writing tasks.

Ethical, Legal, or Sociocultural Issues Assignment

Ethical, Legal, or Sociocultural Issues - Assignment Example In the context of counseling, ethics is referred to as the philosophical discipline concerned with the standards that govern conduct perceived to be acceptable by a culture or society. Ethical considerations for carrying out testing and measurement, in any psychological context, from a participant perspective should include informed consent obtained from all the participants, voluntary participation and adhering to confidentiality of participant information like identity. Legally, all psychometric tests and measurements have to be performed by competent test users according to the regulation. According to the International Test Commission (ITC), â€Å"A competent test user will use tests appropriately, professionally, and in an ethical manner, paying due regard to the needs and rights of those involved in the testing process, the reasons for testing, and the broader context in which the testing takes place† (Dobbie & Fitzgerald, 2003). Abiding by the ethics codes such as confidentiality, right to informed consent, and voluntary participation are also covered under legal boundaries. From a sociocultural perspective, biasness in testing and measurement is the most common possibility. The psychologists involved in testing should have sensitivity, knowledge, and skills to work with individuals and groups with a diverse range of strengths and needs from a variety of racial, cultural, ethnic, experiential, and linguistic backgrounds. With this expertise, the psychologists will be able to reduce and/or eliminate possible biasness caused by these sociocultural norms, thereby helping participants of all backgrounds feel welcomed and appreciated in the group (NASP, 2000). The AMCD multicultural counseling competencies (Toporek et al, 1996) also advocates the counselor to educate their clients on the intention of psychological interventions such as goals, expectations, legal rights and the counselor’s

ETHICAL ISSUES IN LAW ENFORCEMENT Essay Example | Topics and Well Written Essays - 750 words

ETHICAL ISSUES IN LAW ENFORCEMENT - Essay Example The case presented says that on being a police officer and being sent to an accident spot, I discover that my car is involved in the accident. It appears that my spouse is involved in the accident. However, moving closer, I learn to my shock, that my spouse is badly hurt; and her illegitimate lover is also in the car. I am devastated on learning that I have been cheated upon. Both of them lay in badly tattered conditions and are literally on their death beds, begging for help and treatment. Now, both the individuals----my spouse and her lover---are on their death beds and I can save only one, since at least one of them would bleed to death. At this juncture, I need to take the call as to whom I would like to save; since time is a constraint and we could lose them any minute. This is certainly one of the most testing times, in my personal and professional lives intertwined together and I need to prove my mettle in this testing time. My objectivity is questioned at this point, since I need to play the role of a police professional and a husband, who is cheated upon and whose spouse and her lover are on their death beds. Besides this, I also need to act at the nick of the moment and take the decision fast.At this moment of uncertainty and chaos, hurt and confusion, I decide that I would save my spouse. This is because I still love her unconditionally and would not allow any deception or other causes to hamper my love and devotion. However, here, I would have to also retain my objectivity and humanity. Therefore, I hand over my phone to a passerby and ask the person to call up the emergency ambulance. This would ensure the safety of the other individual as well. The passengers-by assure to help me out and cater to his needs. I hand over my walkie-talkie to one of them and rush to the hospital with my spouse. I stay in touch with him, with regard to the progress at the other end. This way, I am certain thta the other individual would recoup soon.Meanwhile, I take up all the necessary steps to ensure that my spouse gets treatment. I rush her to the hospital, and perform small first aid steps on the way. I offer moral support. In spite of her guilt, I try to make her feel safe and secure. The wrong-doings can be sorted out later. However, life is more important at the moment.Meanwhile, I also correspond with individuals and deputy officers at the spot, about the health of the other individual. I see to it that both emerge safe. However, I would definitely confront the individual and m y spouse once they get better and would demand an explanation. Legally, I would take up the necessary action and find out the root cause for the accident. A case would be booked under the law concerned, for instance, speed driving. This would be in accordance to the laws and

The Need for Cultural Sensitivity in Multicultural Special Education Essay Example for Free

The Need for Cultural Sensitivity in Multicultural Special Education Essay Teachers in this changing multicultural society need to be aware of challenges in teaching English Language Learners as well as African-American students. Labeling students immediately as having a learning disability is a disservice not only to the student it is affecting, but also the entire school system. Teachers must learn to incorporate multicultural activities into their teaching style, which would allow them to connect with as many of their diverse students as possible. â€Å"For many multicultural learners, the noble ideal of leaving no child behind has not yielded the desired dividends in general and special education. †(Obiakor 148). I believe that students of all ethnic backgrounds would benefit from their teacher being more sensitive to their diverse cultures and backgrounds. Festus E. Obiakor’s article regarding† Effective Intervention for Today’s Schools† portrays a 9 year-old student named Ricardo whose teacher does not understand his culture and diversity. Ricardo spoke English with an accent, and had a hard time relating to his classmates. The teacher actually had made a note that he was trouble and did not get along with his peers (148). Ricardo was ultimately labeled as having a behavior disorder and was put into a special education classroom. Unfortunately, this is an alarming trend that is occurring in our nations Ramirez 2 schools. â€Å"Students learning English were disproportionately identified as having a disability in the three largest urban districts. †(Turnbull 79). Obiakor notes in his article, that according to the U. S. Department of Education in 2001 that although Hispanic students made up 4% of the general public school enrollments, there was a national average of 14% of these students being placed in special education services(149). This is where teachers need to turn to the theory of cultural relativism. If educators were able to â€Å"know what it is like to be a member of the second culture and to view the world from that point of view,† (Gollnick and Chin 17), teachers would be able to better understand the needs of their students of various ethnic backgrounds. Rather than place them in special education services hastily, by understanding the other culture, teachers perhaps would stop judging the ethnic minority students behaviors as deviant, and put aside their cultural biases (Obiakor 149). If an educator gains an understanding of their students’ background, becoming in-tune with their cultural nuances, they will then begin to turn the tide of stereotyping these students as having special needs. Culturally biased standardized tests are also another factor that affects the student from another culture to be unfairly marked as needing special education. â€Å"Unjustifiable reliance on IQ and other evaluation tools, high-stakes testing, and power differentials between minority parents and schools may also be contributing variables. †(Gollnick and Chin 185). Educators need to recognize that students may fail these tests due to differences in the child’s cultural and linguistic backgrounds. Festus E. Obiakor’s article states that African American learners in special education are continuing to experience â€Å"inadequate general and special education services. †(p. 28) African American students are among the highest ethnic group placed in special education services, due to the process of over-referrals. â€Å"â€Å"With over-referrals, teachers tend to make Ramirez 3 excessive referrals of students of color for placement in special education classes for students with disabilities. †(Gollnick and Chin 183) The disproportionate placement of students of color is one of the most problematic issues facing education (Gollnick and Chin 180). Many students, according to Obiakor’s article who attend urban settings are often labeled â€Å"slow learners† or â€Å"learning disabled†, which in turn takes them out of the running for higher educational opportunities(29). As is the case with Hispanic students, African American culture is not understood by the majority of teachers, most of whom have typically been White. I believe if teachers and administrators take on a culturally responsive aspect to their lessons, they eventually would stop making such rash assessments on these culturally diverse students, eventually allowing these students to be assessed according to their real capabilities, not based on their ethnocentric attitudes and feelings. As a future educator, I realize the need to challenge myself and my peers to become culturally and emotionally sensitive to students of diverse backgrounds. Labeling a child as learning disabled when they are in fact not, is a tragedy that none of us should make. Multicultural students will not only have to deal with discrimination based on their race, but they will also have to deal with the negative connotation a special education label may bring to them. Teachers have such an important role in a child’s life that it is important to try our best not to negatively impact any child. By understanding how a culture learns, the teacher needs to develop a curriculum that is culturally and historically relevant to these children. Educators need to take into account the vast learning styles of these students to make sure that we are not making the mistake of mislabeling a child as having a learning disability, when in fact, one is not present. References Obiakor, Festus E. (2007) Multicultural Special Education: Effective Intervention For Today’s Schools. Intervention In School and Clinic. Volume 42(3), pages 148-155. Obiakor, Festus E. (2010) African American Learners In Special Education: A Close Look at Milwaukee. Intervention In School and Clinic. Volume 5(2), pages28-48. Turnbull, A. (2010) Exceptional Lives: Special Education in Today’s Schools. (R. Turnbull, Michael Wehmeyer, Eds. ) New Jersey: Merrill.

Oliver Twist Essay -- Essays Papers

Oliver Twist A Criticism of Society or a Biography With all of the symbolism and moral issues represented in Oliver Twist, all seem to come from real events from the life of its author, Charles Dickens. The novel’s protagonist, Oliver, is a good person at heart surrounded by the filth of the London streets, filth that Dickens himself was forced to deal with in his everyday life. It’s probable that the reason Oliver Twist contains so much fear and agony is because it’s a reflection of occurrences in Charles Dickens' past. Oliver Twist also brought to light the evils of social injustice and the victims of it. During his childhood, Charles Dickens suffered much abuse from his parents. This abuse is often expressed in his novel. For example, while suffering from starvation and malnutrition for a long period of time, Oliver was chosen by the other boys at the orphanage to request more gruel at dinner one night. After making this simple request, the master (at the orphanage) aimed a blow at Oliver's head with a ladle and placed him confinement. As noted by Patricia Marks in her article on Dickens, â€Å"childhood experience and suffering had emerged as a significant new topic in romantic poetry, and Dickens was personally impelled towards it by memories of his own pre-teenage years when, with the rest of his family in prison and himself alone, he was thrown into manual labour.† Dickens was even quoted as saying, â€Å"I might easily have been, for any care that was taken of... Oliver Twist Essay -- Essays Papers Oliver Twist A Criticism of Society or a Biography With all of the symbolism and moral issues represented in Oliver Twist, all seem to come from real events from the life of its author, Charles Dickens. The novel’s protagonist, Oliver, is a good person at heart surrounded by the filth of the London streets, filth that Dickens himself was forced to deal with in his everyday life. It’s probable that the reason Oliver Twist contains so much fear and agony is because it’s a reflection of occurrences in Charles Dickens' past. Oliver Twist also brought to light the evils of social injustice and the victims of it. During his childhood, Charles Dickens suffered much abuse from his parents. This abuse is often expressed in his novel. For example, while suffering from starvation and malnutrition for a long period of time, Oliver was chosen by the other boys at the orphanage to request more gruel at dinner one night. After making this simple request, the master (at the orphanage) aimed a blow at Oliver's head with a ladle and placed him confinement. As noted by Patricia Marks in her article on Dickens, â€Å"childhood experience and suffering had emerged as a significant new topic in romantic poetry, and Dickens was personally impelled towards it by memories of his own pre-teenage years when, with the rest of his family in prison and himself alone, he was thrown into manual labour.† Dickens was even quoted as saying, â€Å"I might easily have been, for any care that was taken of...

Corporate Governance and Ethical Responsibility Essay

1. Determine at least three different internal and external stakeholders that Dr. DoRight might have to deal with on a daily basis at the hospital. Stakeholders are individuals who are involved in, have a vested interest in, or a â€Å"stake† in the success of an organization (Merriam-Webster, 2011), such as a hospital. Dr. DoRight is an influential decision maker as the President of the Universal Human Care Hospital and it is important for him to consider how his decisions and actions affect the stakeholders of the hospital. In the course of his daily activities Dr. Do Right will interact and impact many of the hospital’s internal and external stakeholders. Internal stakeholders are be committed to an organization’s success. Often internal stakeholders will participate in the strategic development of coordinating resources to fund and sustain an operation. Examples of internal stakeholders which Dr. DoRight might engage daily would be: Director of Public Health, Head of Health Intelligence and Information, Director of Nursing, Public Health Strategists, Vice President of Human Relations or Members of the Board of Trustees (Markwell, 2010). External stakeholders are not directly connected to the organization; however, they are vested in the hospital’s success as clients, business or community partners. These stakeholders have influence over organizational activities by contributing their views and experiences related to issues which are important to them. Medical providers or suppliers, Patient Advocacy Groups, Quality Assessors, the Media, and Heads of Local Community and Special Interest Groups are examples of external stakeholders Dr. DoRight may deal with on a daily basis (Markwell, 2010). 2. Compare and contrast potential conflicts of interest that may exist between the internal and external stakeholders. Conflicts of interest exist between the hospital’s internal and external stakeholders. Medical providers such as, staffed research doctors or pharmaceutical manufactures want to provide the ‘best’ wellness plan by providing cutting-edge tests, treatments and medications which are likely to be more expensive to the payer or patients. Payers, such as insurance providers and private paying patients, would prefer a more cost effective approach to wellness with accurate diagnosis and treatments with fewer visits and tests (Wiseman, 2005). Although internal and external stakeholders may have different priorities, they will share common objectives. All stakeholders will share common ambitions for Universal Human Care Hospital to provide quality medical services to its patients. Additionally, all stakeholders will appreciate the hospitals efforts to improve the quality of life for the community it directly serves. (Markwell, 2010). 3. Discuss whether Dr. DoRight has fulfilled his ethical duty by reporting the illegal procedures. Dr. DoRight has reported the illegal procedures and patents dying due to negligent supervision and oversight to his Regional Director, Compliance Manager, as well as an Executive Committee in January 2009, but he has not fulfilled his ethical duty. As a doctor it is his responsibility to protect all patients from criminal acts including the illegal procedures and negligent supervision which has been reported at Universal Human Care Hospital. As there has been no result from the investigation after two years he has a responsibility to take further action to preserve the lives of patients. His ethical duty should include reporting the illegal procedures, as well as, the negligent supervision and oversight to higher ranking internal authorities. If the appropriate investigation and corrective actions do not occur he has a further ethical obligation to report the incidents to external authorities. As a doctor he is legally bound to take reasonable action. The law recognizes several exceptions the â€Å"no duty to rescue† rule and several apply to Dr. Do Right’s ethical dilemma (Halbert & Ingulli, 2012). Continued deaths due to negligence and illegal procedures should be reported beyond the Regional Director, Complianc e Manager and the Executive Committee as the failure to do so may result in his dismissal or even criminal prosecution. As a doctor he assumes contractual responsibilities to medically help others, and prevent them from being harmed. Patients in the hospital in which he is President may be lulled into a false sense of security, believing they will be helped, only to be neglected when lifesaving assistance is needed. Doctors and nurses employed in the medial facility which he oversees are endangering their patients and he is currently participating in creating a dangerous situation for several patients. Finally, there is a â€Å"special relationship† between Dr. DoRight’s medical facility and their patients. This relationship has a degree of dependency from the patient to the hospital and those whom govern the medical facility. As the President of Universal Human Care Hospital he is required to reasonably protect all patients from harm including the protection from the illegal procedures performed by the medical staff, and neglect or oversight of the supervising staff (Halbert & Ingulli, 2012). 4. Describe the deontology principle and apply it to the ethical dilemma that Dr. DoRight faces in this case. The deontology principle â€Å"is marked by steadfastness to universal principles †¦[of] respect for life, fairness, telling the truth, keeping promises – no matter what the consequences† (Halbert & Ingulli, 2012). Immanuel Kant, the most famous deontological thinker, believed humans could rationally develop an absolute set of rules to govern behavior, and these rules should be applied in all situations without consideration of the consequences. For example, Immanuel Kant believed there is a never good time to lie, even if it could produce a favorable outcome, such as lying saving someone’s life (Halbert & Ingulli, 2012). Under the deontology principle, moral and ethical behavior â€Å"is a matter of holding, without exception, to certain principles† or categorical imperatives (Halbert & Ingulli, 2012). The first of these principles is that people should act under the assumption that the same action they chose should be repeated if roles were reversed and they ended up on the receiving end of those actions. In Dr. DoRight’s ethical dilemma a deontological approach would require him to make his decisions in the frame of reference of being a patient whose death resulted from the hospital’s negligence or oversight. If Dr. DoRight made decisions in this frame of reference it is doubtful two years would pass without any definitive findings from the internal investigation into patient deaths (Halbert & Ingulli, 2012). Another categorical imperative of the deontology principle is that it is unethical for people to use others for their own gain. A mutually beneficial relationship should exist where all stakeholders gain something they want. In Dr. DoRight’s ethical dilemma, the relationship could be mutually beneficial if the patient receives suitable medial services and attention in exchange for monetary compensation. Dr. DoRight’s decisions can be considered unethical as the relationship is not mutually beneficial. Patients within his hospital to continue to die as a result of a variety of illegal procedures, while Dr. DoRight continues to win awards for his leadership and meeting his business goals (Halbert & Ingulli, 2012). Patients have a right to make a fully informed decision when selecting their medical providers. Making fully informed decision for oneself is â€Å"of great ethical value in deontology† (Halbert & Ingulli, 2012). In the last two years, Dr. DoRight has told his Regional Director, Compliance Manager and the Executive Committee about the patient deaths due; however, disclosures are not provided to patients. With the insight of increased mortality rates due to the illegal procedures coupled with negligence and oversight it less likely patients will chose his medical facility for their health care needs. It is unethical according to the deontology principles to keep this information from patients. An infringement is being placed on some of the patients most basic rights; the right to life and health. Within the deontology principle this is never acceptable. Dr. DoRight falls short of several deontological principles, and is unethically infringing on the rights of his patients who are dying as a result of his decisions (Halbert & Ingulli, 2012). 5. Describe the utilitarianism principle and apply it to the ethical dilemma that Dr. DoRight faces in this case The utilitarianism principle guides individuals, like Dr, DoRight, to ethically â€Å"behave in a given situation †¦ to choose an alternative that is likely to produce the greatest overall outcome.† This principle evaluates the advantages and costs of an individual’s actions not only for the decision maker, but for all stakeholders who will be impacted by the decision. Within the utilitarianism principle the long and short term consequences to the stakeholders are analyzed when evaluating a dilemma, while weighing the size of the group and the effects of the decision upon the stakeholders (Halbert & Ingulli, 2012). In Dr. DoRight’s dilemma some consequences may be shared by numerous stakeholders, both internal and external. For example, the media could tarnish the reputation of the hospital and several of its staff by publicizing the deaths as pre ventable. This consequence could result in an increase of livelihood for external stakeholders such as the media, medical malpractice attorneys, or the extended family member of deceased patients. At the same time, it could result in the loss of livelihood amongst internal stakeholders such as; doctors, nurses and other members of as the hospital’s 5,000 employed staff (Halbert & Ingulli, 2012). Smaller external stakeholders carry the burden of the greatest negative consequences. Most costly would be the loss of life to patients who died as a result of illegal procedures and negligent supervision. Although this group of stakeholders may be small in comparison to the 20,000 patients treated at the hospital, â€Å"losses of life and health weigh heavily on the scale† when assessing the consequences of a decision within the utilitarianism principle (Halbert & Ingulli, 2012). The causes of deaths have not been revealed after two years of internal investigation. If an outside organization investigated the details of the illegal practices and neglect it could negatively impact some internal stakeholders. An external investigation could have a negative impact on hospital finances, the Executive committee, and the livelihood of the Regional Director, Compliance Manager or their direct staff. On the other hand, patients, doctors and other stakeholders could benefit from this same decision in the form of additional staffing, proper training and technology to provide accurate diagnosis. Ultimately, the short-term costs a few internal stakeholders of the hospital would be outweighed by the long-term benefits to several stakeholders if Dr. DoRight made this decision (Halbert & Ingulli, 2012). References Halbert, T. & Ingulli, E. (2012). Law, Ethics, Business. In Law & Ethics in the Business Environment (7th ed.). Mason, OH: South-Western Cengage Learning. Markwell, S. (2010). Health knowledge. Retrieved from http://www.healthknowledge.org.uk/public-health-textbook/organisation-management/5b-understanding-ofs/managing-internal-external-stakeholders Merriam-Webster. (2011). Stakeholder. In Merriam-Webster Dictionary. Retrieved from http://www.merriam-webster.com/dictionary/stakeholder Wiseman, B. (2005). Who are the stakeholders in healthcare?. Retrieved from http://patientsafetyed.duhs.duke.edu/module_a/introduction/stakeholders.html

Business Law, the Laws Applied in This Case Study Essay

Introduction Funster had suffered three forms of losses in this factual matrix, namely the broken ribs, the damaged iPhone and the torn T-shirt. Prima facie, Magic Studios is liable for the negligent damage caused to Funster. Therefore, whether Magic Studios should bear liability for the damage hinges upon whether they can successfully rely upon the exclusion clause set out in the ticket. The approach taken by the courts on determining the applicability of the exclusion clause is neatly set out in Press Automation Technology v Trans-Link Exhibition Forwarding [2003] 1 SLR 712. A court will first determine whether the clause is successfully incorporated, before applying the common law principles of construction to determine if it can be enforced. Following that, it will then apply the Unfair Contract Terms Act [UCTA] to determine if the clause can indeed be struck out by statute. Each point of law will be discussed in turn. Incorporation Two issues regarding the incorporation of a term arise in this case. The first is whether the term has been incorporated before the formation of the contract, and the second is whether there has been reasonable notice on Monster Studio’s part. Both issues will be discussed consecutively. On the first issue of incorporation before formation of the contract, the law is clear that terms should be incorporated into the contract before formation (Thornton v Shoe Lane Parking, [1971] 2 QB 163) [Thornton]. The terms and conditions of a contract should be well known to both parties before they are made to bear legal responsibilities under the contract. Therefore, the notice of a ticket must come before its formation. Elsewise, it will not be enforceable. In this case, it is likely that a court will decide that the term has been incorporated before offer and acceptance. This is because Magic Studios has clearly placed a sign above the ticket booth that certain terms and conditions will apply. Funster thus entered into the contract knowing that certain terms will apply to the transaction. In conclusion, the term would thus be properly incorporated into the contract. On the second issue of reasonable notice, the applicable law is clearly set out in the landmark English case of Parker v South Eastern Railway Co (1877) 2 CPD 416 [Parker] that the recipient of a ticket is bound if â€Å"he had reasonable notice that the document contains terms†, even if he remains ignorant of the terms. This means that the term can be incorporated into the contract only if it is reasonable that an ordinary person would have noticed the existence of such a term. The law in Parker was further clarified in Thornton that where the court held that if the party seeks to enforce an onerous term, it must take additional steps to bring its presence to the other party’s notice. In this case, it is clear that Magic Studios should be deemed as having successfully incorporated the exclusion clause. By using an obvious red font, it had clearly brought to any customer’s attention that there are underlying terms and conditions on the ticket. In any case, Funster had consulted an attendant about the exclusion clause and cannot claim that he does not know of such an underlying term. In conclusion, by applying the clear rules set out in Parker and Thornton, the exclusion clause should be successfully incorporated. Common law principles of construction Following the successful incorporation of the exclusion clause, the next issue is whether the clause can be enforceable by applying the common law principles of construction. As held clearly in Emjay Enterprises Pte Ltd v Skylift Consolidator, [2006] 2 SLR(R) 268, the rule of construction approach will be taken in Singapore where exclusion clauses are concerned. Following the landmark decision in The Suisse Atlantique, [1967] 1 AC 361, the court will determine, through a fair construction of the contract, if the parties have intended for such an exclusion clause to be enforced. Courts have traditionally taken a strict approach towards enforcing exclusion clauses purporting to exempt total negligence (Canada Steamship Lines v The King, [1952] AC 192, but following the enactment of UCTA, such a requirement has been visibly relaxed or non-existent [Jiang Ou v EFG Bank AG, [2011] SGHC 149) [Jiang Ou]. Applying the law to the relevant facts, it should be clear that the common law requirement of construction should be fulfilled. Both Funster and Monster Studios can be said to have reached an agreement as to the enforcement of this clause since Funster had only bought the ticket after seeing the large sign containing â€Å"terms and conditions apply† above the counter. Funster must thus have entered into the contract knowing that certain terms and conditions may apply. Moreever, as seen in Emjay, the court is reluctant to reject any claims at this stage of the inquiry, preferring to use UCTA to weed out unmeritorious exclusion clauses. In conclusion, the clause can thus be successfully enforced, pending passing the requirements in UCTA. Unfair Contract Terms Act As mentioned earlier, Funster had suffered three types of damages – personal injury, damage to iPhone and damage to T-shirt. Each of the damage will be discussed in turn using the appropriate provision in UCTA. Broken Ribs Section 2(1) of the UCTA clearly states that a person cannot â€Å"exclude or restrict his liability for death or personal injury resulting from negligence†. This clearly shows that parties are not allowed, under the law, to exclude liability for personal injury or death. Such a provision was written into law in order to protect parties, especially vulnerable ones such as customers to theme parks who might not have equal bargaining power, in cases whereby one party’s negligence have caused serious injuries or even death. Applying the s.2(1) to the facts, it is clear that Funster can claim for negligence with regards to the broken ribs he has suffered. Broken ribs belong to the category of â€Å"personal injury† in s.2(1), and a party clearly cannot exclude liability for such personal injury. As Monster Studios is already prima facie negligent, whether Funster can claim damages for his broken ribs hinges solely upon the application of s.2(1) of the UCTA. Applying the strict requirement in s.2(1), it is clear that Monster Studio cannot exempt liability for the personal injury that Funster has suffered. In conclusion, Monster Studios cannot rely on the exemption clause to exempt liability for Funster’s broken ribs. Damaged iPhone and Torn T-shirt Both the damaged iPhone and torn T-shirts may be classified under other forms of damage, applicable under â€Å"other losses and damage† under s.2(2) of UCTA. It is thus important to look at the relevant provision, which states that Monster Studio’s liability cannot be excluded except where it is reasonable to do so. While s.2(2) does not state what the term â€Å"reasonable† means, this is clarified in s.11 that a reasonable term is one which is â€Å"known or in the contemplation of the parties when the contract was made†. Typically, courts will consider several factors in determining whether a particular exclusion clause is reasonable. They include whether the relative bargaining powers of respective parties (Jiang Ou), whether there are any protests by the claimant (Kenwell & Co Pte Ltd v Southern Ocean Shipbuilding, [1998] 2 SLR(R) 583) and if there are any reasonable alternatives (Tjoa Elis v United Overseas Bank Ltd, [2003] 1 SLR(R) 747). As mentioned in Jiang Ou, the ultimate consideration by the court is whether it is against public policy to allow the enforcement of the particular exclusion clause, and such an inquiry is based on the particular facts of the case. In this case, there are two claims which arise with regards to s.2(2) of UCTA, namely the damaged iPhone and torn T-shirt. For both items, Funster should be allowed to claim for the relevant damages. Applying the several factors set out above, it is clear that Funster had little bargaining power over the inclusion of the exclusion clause and cannot be said to have any other alternatives but to accept the clause if he wishes to take the roller coaster. As discussed in Jiang Ou, it is against public policy if amusement parks such as Monster Studios are allowed to escape with their own negligence by drafting an exclusion clause. The UCTA was specifically drafted to protect consumers such as Funster from being denied legal recourse when faced with a negligent organisation such as Monster Studios. In conclusion, a court is unlikely to deny Funster the claims for his iPhone and the T-shirt. Conclusion In conclusion, Funster should be allowed to claim for his personal injuries, the broken iPhone and the torn T-shirt. While the exclusion clause drafted by Magic Studios can pass the requirements of incorporation and common law construction, it is unlikely to pass the stringent standards set by UCTA. REFERENCES Cases 1.Canada Steamship Lines v The King, [1952] AC 192 2.Emjay Enterprises Pte Ltd v Skylift Consolidator, [2006] 2 SLR(R) 268 3.Jiang Ou v EFG Bank AG, [2011] SGHC 149 4.Kenwell & Co Pte Ltd v Southern Ocean Shipbuilding, [1998] 2 SLR(R) 583 5.Parker v South Eastern Railway Co (1877) 2 CPD 416 6.Press Automation Technology v Trans-Link Exhibition Forwarding [2003] 1 SLR 712 7.The Suisse Atlantique, [1967] 1 AC 361 8.Thornton v Shoe Lane Parking, [1971] 2 QB 163 9.Tjoa Elis v United Overseas Bank Ltd, [2003] 1 SLR(R) 747 Books Ewan Mckendrick, Contract Law (8th Edition), Palgrave Macmillan Law Masters (2009) Websites Singapore Academy of Law. Singapore Contract Law (accessed on 3rd May 2012). URL: http://www.singaporelaw.sg/content/ContractLaw.html Stamford Law Legal Updates, Jiang Ou v EFG Bank AG (accessed on 3rd May 2012) URL: http://www.stamfordlaw.com.sg/legal.php?id=241

International Cinema essays

International Cinema essays AN ANALYSIS OF HECTOR BABENCOS FILM, PIXOTE This film takes place in Brazil during the early eighties. At first appearance, Brazil seems to be a modern day paradise. Large and exotic beaches line the city where tourists flock all year round. Even the people, at first glance appear to be very cultural and rich in heritage. However, this only part of the picture. What you dont immediately see is the overwhelming number of delinquent children who have no home. There are approximately twenty-eight million children in Brazil and roughly three million of them are homeless. Also, half of them are under the age of twenty-one. Children under the age of twenty-one commit the majority of all crimes in Brazil. This is because here, the laws protect the children. Until they reach eighteen years of age, they cannot be convicted of a crime. In the film Pixote, by Hector Babenco, this issue is addressed. The everyday struggles of the children on the street portray a dark counter-culture o the beautiful scenery that surrounds them. The film depicts the lives of numerous adolescents who take part in drugs, rape, theft, murder and prostitution. Because of their age they seemingly go un-punished. I believe the director used the main character, Pixote as a metaphor for the current state of Brazil. Through this character we see that the kids do survive despite their harsh surroundings and learn at a very young age how to survive at any cost. Children are constantly picked off the streets and thrown in to reform schools. However, these reform schools do little to help the children improve their standing. In fact, most of the children end up taking part in drugs; violence and pick up even more deceitful skills to use to help them survive in the world outside the reform school walls. I believe this expresses the main theme of the movie. I think Babenco, portrayed the homeless children of Brazil to show the differences between appearance and rea...

Reasons to Send Graduation Announcements

Reasons to Send Graduation Announcements Amidst everything else youre trying to finish before graduation- least of all, your actual classes- youre being pressured to send out graduation announcements. Why should you spend the time to send them out when you have so much else going on? Reasons to Send Graduation Announcements Your family and friends want to knowSure, some may know that you are graduating...sometime this year. An announcement is a great way to keep them informed and to let them know what your degree is and when, officially, youll be receiving it. Your parents and other family members want to brag about youHave you ever been to someones house and seen a graduation announcement hanging on their fridge? Wasnt it exciting and impressive? Your family has been supporting you during your time in school; let them have some bragging rights for the next few months by having their own announcement to post. Not to be crass, but...many folks might send you some cashIn many cultures, its traditional for friends and family members to send money as a graduation gift. And who doesnt need a little help as they have to pay for work clothes, a new apartment, and everything else thats needed for a new job (or even graduate school)? Its a good way to start networkingYoure graduating with a degree in Computer Science, and your uncle Chris just happens to work at a computer company youre interested in working for, too. An announcement can be a great way to open the door to future job opportunities  since people will know you are now officially a college graduate looking for work. Its a great keepsakeIt may seem like a pain now, but finding a copy 20 years from now of your graduation announcement, stored in a shoebox in your attic, is a great gift you can give your future self. Its a good way to keep in touch with peopleSure, Facebook and social media is a great way to keep in touch with friends. But what about family members or other folks who you dont see very often but still consider an important part of your life? Sending an announcement is a great way to keep the doors of communication open. Its a great way to celebrate your achievementLets not forget all the late nights, study sessions, hard work, cramming, and everything else you did to earn that degree. This is your perfect chance to let everyone know that youve finally earned your degree without sounding too pompous about it. Its a great way to thank those who helped you get to where you are todayDid you have an influential high school teacher who helped you get to college? A mentor in your church? A family member who really stepped in when you needed it? Sending graduation announcements to those who really made a difference in your life can be a great way to thank them for all their love and support.

The business and financial performance of J Sainsbury plc over the Essay

The business and financial performance of J Sainsbury plc over the last three year period - Essay Example fulness, this paper carried out an empirical study where it compared the firm’s stock prices with those of its rivals as well as its own financial position over a span of three years and actually found that such ground of concern of the financial managers is not baseless and that the firm’s position indeed has been deteriorating over the years. J Sainsbury Plc had historically been one of the leading grocery retail chains in the UK. It was founded by John James and Mary Ann Sainsbury in 1869 at Drury Lane, one of the poorest localities in London with just one shop in the beginning, which soon became popular amongst the locals because of the high-quality product they sold at affordable prices. Their popularity among the people helped them gather the funds needed to expand their business and eventually led them to build a chain of about 800 stores throughout the economy that today includes a chain of more than 500 super-markets and about 300 convenience stores built under the brand name Sainsbury. Although their journey started with just a retail store in a small part of London, very soon they started producing their own brand of products – the first among them was bacon which they started producing in their own smoking ovens in 1882. Gradually, Sainsbury, what was a mere firm, started producing and supplying a variety of other types of commodities that today amounts to more than 30,000 products comprising of both food and non-food items; and introduced a variety of services like self-help at the counters meant to avoid the rush and thus ease the efforts of their customers. The company also showed benevolence towards its employees when they began publishing regular store magazines for the counselling of their employees. The versatility of the firm soon became prominent when it showed its concern to the society during the world wars when it adopted some innovative measures for its betterment, which proved its consciousness over the issue. During the world

THE BP OIL SPILL IN MEXICAN GULF 2010 Essay Example | Topics and Well Written Essays - 1250 words

THE BP OIL SPILL IN MEXICAN GULF 2010 - Essay Example A crisis refers to an undesirable and unfortunate position that a business finds itself in, and which poses a great threat to the organization (Benoit, 1995). The value of communication in any company is very important, and this importance cannot be understated. The major concept of this work is crisis management, and will employ a special focus on the BP oil company, and the oil spillage crisis of 2010. It shall take keen interest on how well, or otherwise, the crisis was handled by the company. Two theories are important in this work. First is the structural function systems theory which provides an in depth insight in crisis management. It implies that those companies that have a very effective information and communication model are more likely to succeed in crisis management (Lightstone and Driscoll, 2008). The second theory, the diffusion innovation theory, which is a widely applied theory, helps to structure the framework of this work, theoretically. It shows how businesses co mmunicate and disseminate information through specified networks, or after a period of time which results to consistency (Hooghiemstra, 2000). Accounting theories lay great value in communication, and sets up assumptions, methodology and frameworks, to ensure timely, reliable, efficient and consistent information (Islam and Deegan, 2010). The crisis that BP found itself in was a great test to the company’s reputation, which has taken many years to build. The case The case study chosen, in this context is about BP oil spill in the Mexican Gulf in 2010. BP Ltd has operation sin over eighty companies. Statistics reveal that in 2012, it was the fifth largest company in terms of market share, and has over 87, 000 employees globally (BP, 2010). According to this report, on the morning of 20th April 2010, there was a huge explosion at the Macondo Prospect. A drilling rig had exploded, which resulted to the death of eleven people and seventeen others being injured. This was the worst marine accident in the oil industry, which put the reputation of the company at stake. The BP Company addressed the issue through several press releases, interviews, updates via new media including Facebook and Twitter and also through their annual financial report. The use of these means can be attributed to several accounting theories including the stakeholders and legitimacy theory, the systems oriented theory and the positive accounting theory, which will be discussed in the methodology section. Data After the accident, the company CEO, Tony Hayward, was interviewed by several media houses. In the interview, he consoled the family of the bereaved and the injured. The company also issued press releases regarding the accident. The press releases thereafter were released after a period of time, and each of it gave updates about the accident. For instance, between the day of the accident and the beginning of the year 2011, the company had released about thirty or more press release s on the same issue (Landau, 2001). New media has also boosted communication. The company therefore took its chances and continued to communicate via Facebook and twitter, updating all recent developments and photos of the progressing work. The other disclosure vehicle chosen was the annual report of 2010. In this, the chairman, Carl Henric Sanberg addressed the issue. In the same report, there is a summary of the accident, and a detailed explanation of what has been done, and what continues to be done (BP, 2010). The vehicles chosen for corporate analysis in this particular crisis were effective, though not fully. Methodology The

Customer Expectations & Environment Analysis Essay

Customer Expectations & Environment Analysis - Essay Example Bus services with four lines serving the city and suburbs is complements the transportation options. Many of the rooms in this property have a great view of Lake Geneva and surrounding mountains. What we want is to create a space in between where the global glamourous/cool crowd meets the local hip crowd. This potential crowd is served well by the Swiss hospitality. We offer a space where Swiss efficiency meets the simple, modern and productive Scandinavian customs and traditions, providing convenient locations for lunch and after-work drinks. We used Google Hotel Finder to scan the competition in the area. We found places with rates as high as CHF400 at Lausanne Palace and places as low as CHF112 at Ibis Lausanne. Our target clientelle is well traveled and well-educated business professionals who are looking for exotic experience(s) rather than product(s) offereing mundane experience(s) and run of the mill environment. We differentiate ourselves from our competition by creating a novel space. Our hotel will offer rates between CHF130-150 including power breakfast, the most important meal of the day, and more importantly free wifi which not many properties have the facility. But it must be kept in mind that the price(s) will fluctuate depending on the season, day of week, and length of stay etc. Taking into account the location of the property, and bearing in mind the target clients/customers/markets based on the analysis of benefits considered by the said clients/customers/markets, we are propose to brand and position our concept as follows: As can be seen from the proposed pricing, we plan to place ourselves between the 5-star hotels and the economy/ budget ones. However, such a pricing does not mean that we will comprise on the facilities and amenities that are required by our target market. It will be â€Å"affordable luxury†, as expounded by

Digital Music Case Study Media Essay

Digital Music Case Study Media Essay The industry condition that led to the revolution in audio distribution was the transformation of music from conventional songs and albums to new digitally recorded formats. The MP3 format not only provided the means to store more songs in a given media by reducing the size of each song but it also enabled digital music players to play these songs with relatively high levels of clarity. The new format also enabled the songs to be downloaded and played on personal computers. Another aspect of the revolution in digital music was the ability of the software to convert existing CDs to the new MP3 format. On a broader scale, the industry condition witnessed the advent of media sharing applications which enabled the users to freely share as well as distribute songs in MP3 format with users who possessed the same file sharing application. Napster was the most popular among such media file sharing applications (Protecting Innovation: The Digitial Music Distribution Revolution ). The stakeholder who would be benefitted the most from this digital revolution would be the consumers of the music, especially those who have a personal computer as well as an access to the internet. With the increased feasibility of sharing media files in the new MP3 format had increased the possibility of users with respect to the acquisition of freely available media files (Protecting Innovation: The Digitial Music Distribution Revolution ). Question 2: Why did the music stores created by the record labels fail to attract many subscribers? What, if anything, should the record labels have done differently? Answer: The music stores created by the record labels fail to attract many subscribers due to their utilization of proprietary file formats. These file formats meant that the songs would have limited playability in terms of the music playing devices. It also drastically limited the digital rights management schemes and this was further subjected to limited offering of media selection. However the unrestricted peer to peer services such as Napster, Gnutella and Kaazaa provided a large selection of free media in the new format which did not incur costs that were commonly incident on media obtained from authorized stores. It is this feature of the unrestricted media sharing applications which led to the music stores created by record labels being rendered as ineffective (Protecting Innovation: The Digitial Music Distribution Revolution ). The record labels should have at least considered the option of changing the format of their offered media to MP3 format in keeping with the current environmental trends and consumer preferences. This would have enabled the record labels to manage the competition by free sharing apps to some extent by providing the popular media format to the consumers (Protecting Innovation: The Digitial Music Distribution Revolution ). Question 3: What will determine how long the success of the iPod and iTunes endures? Should Apple allow its iPods to play non-iTunes songs? Should Apple allow iTunes songs to play on non-iPod MP3 players? Answer: The factors which would determine the longevity of the success of the iPod and iTunes pertain fundamentally to the appeal of the product / service offerings of Apple. One of the main factors is the coolness of the products which has been successful in appealing to the younger faction of the target segment. Adequate emphasis also needs to be maintained on the smart strategies adopted by Apple which has been instrumental in developing strong relationships with the record labels. These record labels had accurately identified the cool factor of Apples products and were able to foresee viable prospects if an association were to be established with it. Other factors which would contribute to the determination of the longevity of the success of the iPod and iTunes would relate to the use of widely adopted and popular media formats, competitive pricing of the media products (purchase as well as downloads) and the possibility of licensing agreements with the record labels by means of which a comprehensive solution could be provided wherein a one-stop music shopping portal would be offered to the consumers (Protecting Innovation: The Digitial Music Distribution Revolution ). Apple currently permits the playing of non-iTunes songs on its iPod. The restriction in this regard is experienced when the users burn music to blank CDs. In this case the non iTunes songs would not be written on the storage media due to restrictions imposed by Apple with respect to non-iTunes songs. Apple should permit iTunes songs to be played on non iTunes compatible MP3 devices. Currently the imposition of this decision would not hold much relevance as Apple has already achieved 73% of the MP3 players market share due to the relaxation in the restrictions which were imposed on the playability of the media formats (Protecting Innovation: The Digitial Music Distribution Revolution ). Question 4: Why would musicians sign away their copyright privileges to their songs through Creative Commons? Answer: Musicians sign away their copyright privileges to their songs through Creative Commons due to the varying degrees of openness which would have an impact on the extent of sharing of media undertaken by the consumers. This degree of openness has been deemed as highly successful for the file sharing applications and the same could be utilized by the musicians for promoting that their music was ready and available for downloading. A significant aspect of this approach is that musicians have been enabled to promote their music for downloading without bearing any risk of infringement lawsuits that would otherwise have been imposed by record labels in such situations (Protecting Innovation: The Digitial Music Distribution Revolution ). Question 5: How is podcasting likely to impact the appropriability of recorded music, radio broadcasting, or other types of audio transmissions? Answer: Podcasts are likely to impact the appropriability of recorded music, broadcasting and other types of audio transmission in terms of the creation rights of such media. Users can freely create and develop the podcasts and share the same with users on the internet. The boundaries of recording have been removed with the possibility of sharing free MP3 media on the net without the presence of restrictions and barriers. The musicians who utilize this method do not approach music labels for obtaining the legal rights to their compositions. Users of such applications have no labels but they are able to generate the require popularity levels in the public. This would directly result in the incurrence of heavy loss to the record labels and would in fact pose a threat to the already existing music productions which have been developed by them. The trend in this regard has already commenced though in its infancy stages, and has gained popularity especially with music bands. An apt example of thi s the initiatives of the famous rock band, Motorhead which had released its new album with download permission being provided to the users. Some of the features of their offering were: The songs were provided in the currently popular MP3 format and this was beneficial for appealing to the consumers preferences. Moreover the standard pricing for albums ($.99 a song) was not imposed on the songs. The band had provisioned that the consumers would be permitted to pay whatever amount that they felt to be nominal in their opinion. The band had not used any record label for distributing this release, but still they managed to get the required reach as desired for their songs. The above features exhibit the manner in which podcasting has affected and will continue to influence the appropriability of recorded music, broadcasting and other types of audio transmission (Protecting Innovation: The Digitial Music Distribution Revolution ).