Cultural Values Of The Body Shop

Cultural Values Of The Body Shop I just want The Body Shop to be the best, most breathlessly exciting company and one that changes the way business is carried out. That is my vision. Anita Roddick, Human Rights Activist Founder of The Body Shop This was the vision with which Anita Roddick started off The Body Shop in The United Kingdom. Anita had stepped into this industry in 1976 when she used  £4,000 to finance for a small stand-alone shop of natural-ingredient cosmetics and personal care products. Her idea was inspired from a visit to a shop with a similar name in California. Her aim, at that time, was to support herself and her two daughters while her husband had gone horse-riding for two years. The interior design of her store, product packaging, and marketing approach were all born from survival instinct to support the livelihood of her family. She used dark green paint on the walls to hide cracks (and not in symbolism of the environment!). The clear plastic bottles she used then, that received much appreciation were in fact urine sample containers which she has purchased from a local hospital. She saw success promptly. Her cosmetic store flourished, and she was motivated to open another even before the company had their first anniversary. When her husband Gordon Roddick returned in 1977, he joined hands with his wife in her thriving business. Together they realized that they wanted to franchise the operations of their enterprise during the companys second year. By 1984, The Body Shop already boasted of 138 stores, 87 of which were located overseas, i.e. not within the territory of United Kingdom. Over time, franchising soon took over the number of openings of company-owned stores in 1994 franchises comprised 89 percent of Body Shop stores. Over the years of success Anita decided to support and contribute to social and environmental change through her enterprise. Initially she associated The Body Shop with reputable groups, which include Greenpeace, Amnesty International, and Friends of the Earth. Later she launched her own campaigns, specifically on ones that focused primarily on recycling and abolishing animal testing in the cosmetics industry. Body Shops put up posters and made petition sheets for the customers. Half way through the 1990s, the franchises were also asked to support some of these campaigns a year for such causes as AIDS education, voter registration, and opposition to animal testing in the cosmetics industry. The Body Shop, now has 2,400 stores in 61 countries, and is the second largest cosmetic franchise in the world, following O Boticario, a Brazilian company. The Body Shop is headquartered in Little Hampton, West Sussex, England, is now part of the LOrà ©al corporate group. Cultural values of The Body Shop The Body Shop follows the mission statement: To dedicate our business to the pursuit of social and environmental change. Dame Anita believed that businesses have the power to do good, contrasting with the traditional view of profit-driven businesses. In 1999, few days before third ministerial conference of the World Trade Organization (WTO), she campaigned against WTOs profit-obsessed system that overlooked social and ecological aspects of businesses. These standards transcend to personal values and motivating factors for external stakeholders, employees and consumers to do good for the society and at the same time, act as strategic marketing tools to gain popularity and reputation for the organization. Every product in The Body Shop has a story to tell; each communicates ideas on business ethics, human rights and environmental issues. From raw material extraction to product packaging, every process is inseparable from the firms values. The five core values include activating self-es teem, protecting our planet, against animal testing, supporting community trade and defending human rights. Activate Self-Esteem Dame Anita believed that being confident in appearance and feeling good about self are crucial in developing ones self-esteem and confidence. While The Body Shop uses people to portray vigor, energy and attitude that embrace ones style and self-worth, it does not use very thin and young models to avoid giving the impression that size and age defines beauty, unlike many other beauty products out there in the market nowadays. They look for pink and fresh faces that are full and blossomed. Treating women with respect and empowering them boosts confidence and self-esteem. This belief ties in with the value support community trade as the firm outsources its natural ingredients to marginal communities, using trade to empower women and giving them employment, improving the lives of their family in more than one ways. Volunteerism is intertwined with The Body Shops philosophy of looking good, feeling good and doing well. The global volunteering policy was implemented in 2008, offering all employees at least 3 paid volunteering days yearly and maximum to 6 different locations. An Anita Week was also introduced to encourage employees to undertake additional volunteering activities. Individual self-development is highly embraced as the firm provides leadership training and management development programs for its employees worldwide, providing opportunities for learning, self-improvement and skills upgrading. It also rolled out a Learning is Of Value to Everyone (LOVE) program which funds employees for courses, events, training and health treatment, encouraging them to learn new skills, and stay fit and healthy. Protect our planet The Body Shop dedicates enormous amounts of efforts in its efficient environmental system and continues to review their high, yet achievable targets set through the voluntary European Union Eco Management and Audit Regulation, ensuring constant progress in protecting our planet. The firm pays attention to fine details of supply chain processes. Even when sourcing for natural raw materials, the Body Shop obtains supply only from those sustainable plantations and rainforests, ensuring no deforestation or destruction of fragile ecosystems associated. Since the beginning of 2008, all soaps have been sourced from suppliers successfully audited against the Roundtable on sustainable palm oil (RSPO) criteria. With the progress of obtaining its 63% of wood from sources managed by the Forest Stewardship Council (FSC) in 2008, The Body Shop aims to source 100% of its wooden products by the end of 2010. In 2001, the Body Shop partnered with Greenpeace International in a joint campaign, raising awareness on renewable energy to combat global warming. In becoming a Carbon Neutral Retailer the firm actively seeks renewable sources, achieved 30% reduction of store carbon emissions and reduced emissions from transportation of products by using 93% hybrid cars and offsetting all air travel. Even at the end of life of each product, environmental considerations are taken into account. While as little packaging is used for all products, recycled used plastic known as Post Consumer Recyclate (PCR) is used to make bottles of the products that are sold are retailed. Also, the 100% recyclable and 100% biodegradable paper bags used in all stores are strong enough to be re-used several times after being taken from the stores. They even looked into delicate details such as use of water-based ink that contain no harmful solvents. The meticulous nature of this kind is remarkable. The Body Shop carefully selects chemicals, ensuring the quality, safety and efficacy of products to maintain a good environmental record. It resorts to use of synthetic chemicals only when there are no other appropriate natural alternatives available. With regular reviews, following up updates on environmental research on chemicals and constantly refining guidelines for product production, the Body Shop phases out and bans chemicals that are harmful, i.e. polycylic musk that contributes to the fragrance component. Against Animal Testing The Body Shop is known for its effort in advancing Cosmetics Directive successfully in March 2009 to ban animal testing on all cosmetic products in The European Union. It is one of the few firms that adhere to the Human Cosmetics Standards(HCS), an internationally-recognized scheme that allows consumers to identify and purchase cruelty free products. While the Body Shop collaborates with suppliers endorsing non-animal testing ingredients only, it has regular audits both internally and externally to ensure adherence to HCS. The Body Shop invests heavily in developing alternatives for animal lab-based tests. Recently, it bought Loreals non-animal skin irritancy test technology which develops artificially grown human skin for all Body Shops product testing. Even where animal-derived ingredients are used, the Body Shop commits that these ingredients do not cause or derived from the death of animals and they are suitable for vegetarians use. Common animal-derived ingredients include bees wax, honey, wool wax (lanolin) and shellac (resin secreted by lac bug). Community Trade Community trade is another aspect that The Body Shop has been actively practicing. Being the pioneer of the program, the company performs a fair trading relationship with its suppliers which involve income fairness, community development, and predicable supply. In line with the values, the organization has been trading with communities from third world countries with regards to ingredients used, gifts and accessories. Such an approach is utilized so that these communities will be able to benefit from the trade and use the financial resources to develop the area around them and for education of the youth. To begin with, natural ingredients are obtained from marginalized communities from Brazil to Samoa. Ethical concerns are addressed by ensuring workers human rights are in accordance to international standards. Most importantly, child labor and excessive hours are prohibited as suppliers adhere to The Body Shop Code of Conduct. Moreover, to tackle the issue of deforestation, palm oil for Body shops products is sourced reliably to prevent deterioration of this global phenomenon. Over the past years, new trade relationships have been forged with communities such as Kenya Organic Oil Farmers Association and CADO from the mountains of Ecuador. The organization have also traded with Teddy Exports, a manufacturer based in Tamil Nadu with the aim to solve social problems in the region by exporting timber and textile related products to both domestic and international market. In all, over 25, 000 people in more than 20 countries have benefitted from this approach. Defending Human Rights Not all social issues can be resolved due to inadequate awareness and low coverage by the media. Thus, the company decided to focus on areas of social issues that are usually ignored in an attempt to overturn the situation. One example of social issue faced by the world is domestic violence. To put a stop to the rampage of this human right abuse, The Body shop aided by raising awareness of the public, generating funds for the victims and their families as well as work alongside with governmental bodies to prevent at-risk and affected individuals. Increasingly over the years, there has been a rise in markets undertaking the campaign of Stop violence in the home. Since The Body Shop is not expert in working on the issue, funds were raised and contributed to non-governmental organizations that focus on them. Training programs were also administered to employees globally enabling them to become active campaigners rather than passively promoting the issue. In total, more than 375 million of children are affected positively and the markets participating in the campaign raise both funds and awareness to protect the children from further harm. Another social issue faced is the prevalence of HIV and AIDs, where The Body Shop has been partnering with MTV international to increase the awareness amongst young people and raise funds for the fight against the issue. Raising awareness of how the disease is transmitted is one of the best ways to prevent the spread of the epidemic, as prevention is always better than cure. Amounts are also granted to entrepreneurial projects to reach out to youths at risk ad keep them safe from HIV. More markets around the world have also joined in to reach out to millions of young people worldwide. Till date, the Body Shop has made some notable achievements around the world: Organized street march in Seoul, calling for the government to provide better rehabilitation services, more financial assistance and increased protection for victims of domestic violence Sponsorship for the site to tie in with Stop violence in the home campaign in Switzerland and took the message in classrooms. Long term partnership with The National Coalition Against Domestic Violence to help create awareness in US. Programs such as Face-to-Face reconstructive surgeries for victims to rectify fatal injuries caused by domestic violence benefitted from the funds that were raised. Charitable Organization Last but not least, the organization set up a charitable trust known as The Body Shop Foundation that annually donates to more than 3000 projects around the world. To induce social and environmental changes, innovative projects are funded to aid in promoting the common good. Currently, the foundation is working on environmental conservation in Romania, education in Zambia as well as domestic violence initiatives across Europe and child trafficking in Asia. Critiques Authenticity of Claims In reinstating its position as a company that cares for its environment, Body Shop claims to be many things: To use all natural products To be involved with environmental protection Trade not aid Anti-animal testing Natural Products Despite its claims, many of the ingredients used are not being disclosed appropriately and are dubious with regards to origins. This is unlike industry norm wherein companies marketing the same products would in their packaging state the original sources of their ingredients. Any discerning consumer should note that the seemingly superiority attached to the word natural over man-made is not always guaranteed. In actuality, many natural ingredients can conjure allergies and are thus less safe than the well-tested synthetics. Moreover, the marketing counterparts of consumer companies are quick to exploit the loophole due to deficiency in universal meaning accrued to the word, natural. The public at large may gullibly assume a product that reads 100% natural to be free from any synthetics, when in fact; they may just as well be derived from petrochemicals. Although synthetic chemicals were said to be introduced only to prolong shelf-life of its products, it has been shown that they were used for other reasons as well. In fact, the Body Shop has used synthetic colourings and fragrances widely in their line of products. In fact, these cheerfully-coloured perfumes and lotions became part of the companys trademark. In effect, this seems a case of exploitation the word natural. Environmental Protection Given its extensive greening efforts, ranging from sourcing of ingredients to materials for packaging, the Body Shop serves as a Green Model for other companies. Even so, there exist some environmental contradictions and setbacks. Long gone are the days when the Body Shop offered the option of refills for customers as part of its innovative take at reducing packaging and waste. However, it is due to the heightened safety-regulatory issues that this service has been terminated. To overcome this setback, the Body Shop uses recycled materials in manufacturing of the packaging. This allows for significant reduction of resources, bypassing the need for customers to transport them back. Also, standing in contention with the 100% recyclable paper bag, in 1993, the Body Shop switched to printing their pamphlets on ReComm Matte paper from Georgia Pacific, infamous for rainforest logging. Trade not Aid Whilst the Body Shop claims that it ethically sources its products and takes prides in its Trade Not Aid policy, which pays first world prices to third world workers. The impact of this program is queried by many industry observers and critics. For instance, according to renowned journalist, Jon Entine, the company failed to match up to its claims and commitment on emphasizing trade with other third world countries. In fact, in 1993, these products made up less than 1% of Body Shops overall purchases. In particular, the controversy centered its sourcing of Brazilian nuts. Broken promises to former face of this promotion, Kayapo Chief, Pykati-Re, landed in a successfully lawsuit against Body Shop International (BSL) for exploitation of the natives image. In words of Dr Turner, Body Shop gets the aid in the form of native images and in return, natives get almost no tradein return. Currently, the term has been replaced by Fair Trade. Nevertheless, Roddick has facilitated the idea that trade was superior to aid, in the long run; poor people were better off with businesses of their own, rather than with dependency on handouts. Animal Testing What immediately conjures to mind when we think of the Body Shop? The phrase Against Animal Testing is bound to be amongst the first. It is pivotal that we note that this was a fairly recent phenomenon, with BSI revision (in1996) that they will cease to use an animal-tested ingredient for the cosmetic industry after December 31, 1990. Their efforts today are evident in clearance of the regular audits which ensures adherence to Human Cosmetics Standards (HCS). However, an internal memo exposed in 1992 suggests that almost 50% of the companys products are linked with animal testing. According to Hoffman LaRoche, vice president of cosmetics specialties, Dave Djerrasi , purchased animal-tested Vitamin E acetate in 1991 from Hoffman LaRoche for use in sunscreen. Franchising and IPO According to Paul Burns an observer of the company, Body Shop brand is inexorably linked with its culture, which in turn is based firmly in its ethical and environmental beliefs and values. However, with its extensive franchising and expansion to different location across the globe, there appears to be a dilution of its corporate culture. For instance, according to Paul Burns, in Body Shop, employees are given time off to work on local social projects, however, it would be very difficult to enforce this on every single Body Shop outlet across different countries, even if they were to state it in a clause, enforcement itself would be difficult too. In relation to their massive expansion and foray into the equity market, as any finance and behavioral management would postulate, a decrease in ownership stake would meant less incentive for the owners to be involve in the company which also arises from lesser control over their company. For the case of Body Shop, after a failed attempt at re-privatization and voluntarily limiting their involvement in the company, the Roddicks eventually resign from the company in 2000. This is especially detrimental to Body Shops image as Anita is often regarded to be the human face of Body Shop and the soul of its many humanitarian initiatives. Hence, Body Shops authenticity as an activist for the environment is increasingly challenged as Body Shop expands. The Loreal Takeover The companys authenticity as an activist for the environment is further challenged after takeover by Loreal -a large MNC with an opposite business culture as Body Shop: ruthless profit maximization versus profits with a conscience. In an attempt to lessen the connection between Loreal (an MNC) and Body Shop, Loreals CEO reassures that Body Shop will be run as an independent subsidiary from Loreal. Roddick justified the decision to merge with Loreal using the Trojan Horse Theory, which means that to enact any change, The Body Shop has to enter the company. However, it remains questionable as to whether full autonomy is really possible given the strong capitalistic outlook of Loreal and if two distinct corporate culture remained independent from each other even after merger. Conclusion At its heart, Body Shop is a profit-generating company, the very fact that it is a listed company meant that its main obligations stems from its promise to its investors to generate revenue that matches with their expected return on this investment. The question remains as to whether Body Shop is able to fulfill its dual responsibility: one to its investors and the other to the environment; and whether these two responsibilities are inherently contradictory with one another. When Dame Anita Roddick began her campaigning ways, social marketing was a radical stance in the corporate world. Now, every part of the company appeared to be going green. Arguably, many of these socially responsible initiatives have their origins in promotions embraced. This raises an important question: What is Anita Roddicks real legacy? Did The Body Shop walk its talk as Anita and her husband, Gordon used to boast? However, the fact still remained that the Body Shop had a good record of environmental audit and disclosure. The Body Shop was a signatory of the CERES principles, an environmental code of conduct that was created by environmentalists and social investors. Apart from that, the Body Shop was one of the few companies to have an efficient environment management system and environment audit which followed the voluntary European Union Eco Management and Audit Regulat References Funding Universe. (2003). The body shop international plc. Retrieved from http://www.fundinguniverse.com/company-histories/The-Body-Shop-International-plc-Company-History.html Hope, C. (2005). Anita Roddick to give away entire  £51m fortune. Telegraph.co.uk. Retrieved from http://www.telegraph.co.uk/finance/2928175/Anita-Roddick-to-give-away-entire-51m-fortune.html National Post. (2007). The myth of the green queen. Retrieved from http://www.canada.com/nationalpost/news/issuesideas/story.html?id=41bea314-6b01-4697-83c1-593f4a22d0c1 National Public Radio Morning Edition. (1994). Body Shop International takes heat with ethics charges. Retrieved from http://www.jonentine.com/articles/NPR.htm Paul, B. (2010) Case Studies in Entrepreneurship. Entrepreneurship and small business. (3rd Ed.) Retrieved from http://www.palgrave.com/business/burns/students/pdf/06%20Body%20Shop.pdf Roy, S. Ghosh, L. (2008). Business as unusual: A case study on the Body Shop. Journal of Applied case research. Retrieved from http://www.swcrahome.org/Cases/Body_Shop.pdf The Body Shop International PLC. (2008). Chemicals Strategy. Retrieved from http://www.thebodyshop.com/_en/_ww/services/pdfs/AboutUs/BSI_Chemicals_Strategy.pdf The Body Shop International PLC. (2009). Living our values: values report 2009.Retrieved from http://www.thebodyshop.com/_en/_ww/values-campaigns/assets/pdf/Values_report_lowres_v2.pdf The Body shop International PLC. (2010). How we make our customers and employees feel good about themselves? Retrieved from http://www.thebodyshop.com/_en/_ww/services/pdfs/AboutUs/BSI_Chemicals_Strategy.pdf The Body Shop International PLC. (2010). Our history. Retrieved from http://www.thebodyshop.com/_en/_ww/services/aboutus_history.aspx

Microsoft Csr

â€Å"Technology creates opportunities for people and organizations to realize their full potential† is the thought driving Microsoft’s corporate citizenship program. With the enduring commitment to serve needs of communities worldwide Microsoft is playing the role of a responsible global citizen. Going far beyond its products and services it has collaborated with business partners, governments and non profit organizations around the globe to fulfil its commitment. It delivers new technology to people and organizations to unleash their creativity, productivity and opportunity across borders.In today’s world there is no scarcity of opportunities yet there is a growing divide between young people who have the chance to succeed owing to their enhanced skills and those who don’t. In response to this divide Microsoft has targeted its corporate citizenship program particularly towards youth empowerment. Microsoft YouthSpark is a youth empowerment initiative that connects millions of youth the world over and provides them with opportunities for education, employment and entrepreneurship.It brought together more than 350,000 students from more than 260 regions and countries to participate in the 2012 Imagine Cup—the world’s largest student technology competition. In the auspicious event students from different parts of the world and cultures use their skills to solve world’s most challenging problems. Such competitions are great motivators for youth as it provides them with a platform to showcase their talent across borders and to explore and enhance global opportunities.Microsoft has provided students free access to state-of-art technology facilities at more than 90 Microsoft innovation centres in 44 countries to accelerate their career opportunities. It has also provided innovative designer and web developer tools to students and teachers around the globe under the Microsoft Dreamspark initiative. Most of the companyâ €™s donations are targeted towards Non-profit organizations addressing the need of youth skill development. Also, through Microsoft BizSpark the company is helping young entrepreneurs launch new businesses by providing access to software development tools, industry connections, and investors.Empowering non profits: It goes without saying that the biggest problem a non-profit organization faces is raising funds for the upgrade and betterment of its core processes. â€Å"Nonprofits need powerful tools to transform passion into progress. Modern productivity, communication, and collaboration solutions help people drive social change where it’s needed most. † says Kurt DelBene, President, Microsoft Office Division. Through its technology for good program Microsoft is helping 62,000 non profit organizations around the globe to get affordable access to technology for serving communities with a greater zeal.Some activities under the initiative were donating hardware and so ftware to non profit organizations and providing them with refurbished laptops at relatively cheaper rates. Microsoft also collaborates with nonprofits for hosting more than 100 NGO Connection Days and in educating NGO staff on how to get the most value from donated software via webinars. Other than the above mentioned points Microsoft also provides technological process solutions to the non profits so that they can reach out to the people in need efficiently and effectively.Microsoft’s Employee giving program: Employees are the heart of any organization and the initiatives taken by them are prone to be embedded in the core of the organizational culture . The Microsoft’s employee giving program is a campaign by which employees devote their time and money as a service to the communities. Since its inception in 1983 the company has raised nearly $ 1 billion as donations. On 18th Oct, Microsoft CEO Steve Ballmer and Chairman and Founder Bill Gates commemorated Microsoftâ €™s 30th Employee Giving Campaign during a special town hall event where the congratulated the employees for their efforts.In FY12 the employees gave nearly $100 million with a volunteering percentage of 65%. The company Encourages employee giving and volunteering by offering company matching contributions for US employees up to $12,000 for total time and cash donations. It gives employees at least three days off from their office work if they want to volunteer outside the United States. The volunteering percentage has increased 12. 5% year over year and more than 12000 employees and 2,000 non-profits have been registered on Volunteer Manager, Microsoft’s opportunity matching system for bringing needs and skills together.The organization motivates volunteering through the Give SharePoint site, where employees can share experiences and opportunities with the rest of the Microsoft community. Beyond direct service to the community, Microsoft has made significant strides in t he areas of human rights and environmental sustainability. It consulted with businesses, government and other key stakeholders to develop a human rights statement that brings together long-standing policies on issues such as privacy, security, free expression and labour rights.It exceeded its goal to cut carbon emissions by 30 percent compared with 2007, due in part to the 1. 1 billion kilowatt hours of green power it purchased, the third most of any US company. Its endorsement of the United Nations Global Compact drives Microsoft to continually improve its business practices and increase its accountability. â€Å"Stick to your core competenciesâ€Å"– the famous business jargon is what Microsoft is incorporating in its pursuit of becoming a world leader in Corporate citizenship.

Why Absolutely Everyone Is Talking About Unique Persuasive Essay Topics and What You Need to Do

Why Absolutely Everyone Is Talking About Unique Persuasive Essay Topics and What You Need to Do More it is also simple for the students now to seek out emergency essay writing services anytime. If you can select the matter all on your own, it's possible to develop the issue of interest! You should have your reasons, and our principal concern is that you wind up getting an excellent grade. In such a situation, a student is needed to pick a proper topic to write about. The Advantages of Unique Persuasive Essay Topics Consider what you know. Students have to finish a lot of writing assignments during college years. Many students think that it is a waste of time. It's possible to also restate the ideas you've discussed in the body paragraphs in order to make your point valid. The variety of body paragraphs will mostly be based on the period of your paper. When you settle on this issue and select the position on which you will base your essay, the remainder of the job can then begin. Learn which of the topics, you currently have a fairly good background on which will make it possible for you to have a relative edge. Odds are, other individuals also feel the exact same waywhich usually means it would earn a compelling topic for a persuasive speech. Among the most frustrating things for a youthful person to run into is being told that you can't access or take part in something as you do not meet the age requirement. Many people wind up covering the exact tired topics they see in the media daily, just because they can't produce a better idea. You are able to also write about a frequent problem that numerous men and women are speaking about nowadays and bring your fresh ideas to the discussion. You're an actual topic enthusiast! Clearly, you shouldn't purposely choose a topic that will bore your audience. You shouldn't use a topic to just get attention and deviate from it once you've got an audience. If you are able to throw yourself into a topic you've got a great deal of private interest in, you're more likely to be successfully persuasive. The Bizarre Secret of Unique Persuasive Essay Topics School should occur in the evenings. School tests aren't effective. Students ought to be permitted to pray in school. Students and teachers can buy balanced lunch and drinks aside from alcohol, that allows them to feel nice and study far better. Most issues can have essays on all the aforementioned questions. Qualities of a great persuasive essay topic The topic ought to be specific. It will be simpler that you compose a superior persuasive essay if it's a subject in which you have knowledge. To find the absolute most from the education essay topics, explore the many resou rces about the problem you're writing about. Good persuasive essay topics must be persuasive. Persuasive essays are a fantastic means to encourage the reader to check at a particular topic in a different light. They share a great deal of resemblance with argumentative essays. All persuasive essays are like argumentative essays. New Step by Step Roadmap for Unique Persuasive Essay Topics There are varying views on whether or not a college education is needed in order to have a thriving life. Needless to say, it's the topics you may have a small laugh about! Though people believe education is a correct and will make society, generally, a better place for everybody, others feel there's no genuine method to provide a free college education as colleges would still must be funded (likely through tax dollars). There are times that you feel as though you want to go over some problems and issues that are presently happening in our society, but don't exactly understand what you'd like to discuss. Writing a persuasive essay wants a good deal more than the capacity of convincing the readers. The value of research in persuasive writing cannot be overstated. Even if you think in a specific argument very strongly, if you lack the evidence to show your point, then your argument might just be as great as lost. You may find there's a compelling argument for learning another language after all! What Does Unique Persuasive Essay Topics Mean? Folks tend to find unusual and distinctive topics to create persuasive speeches to continue being prominent among others. Every American should learn how to speak Spanish. He should learn to speak English.

Buddhism Essay - 1537 Words

Buddhism What is Buddhism? Buddhism is a philosophy of life, it was started by Siddhartha Gotma , who is more commonly known as Buddha. Buddha isn’t god to them however he is well respected for passing down knowledge of how to find true happiness. The Buddhists major aim in life is to find enlightenment (true happiness).Buddhist monks live by a strict moral code, in which they are given food, they live a life structured around the teachings of Buddha. Who was Buddha? Siddhartha Gotama was born into a rich royal family, located in Nepal in 563 BC. Siddhartha’s birth was prophesied by his mother whom had Queen Maya dreamt that a white elephant with six white tusks entered her right side (a sign of great importance in that†¦show more content†¦He died at the age of 80. Major Festivals Buddhist New Year: In the countries that follow the Theravadin tradition (Thailand and Sri Lanka) New Year is celebrated for 3 days and in celebrated on the first full moon day of April. In the Mahayana countries the New Year is on the first day of January. Vesak: Traditionally, Buddhas Birthday is known as Vesak or Visakah Puja (Buddhas Birthday Celebrations). Vesak is the major Buddhist festival of the year as it celebrates the birth, enlightenment and death of the Buddha on the one day, the first full moon day in May, except in a leap year when the festival is held in June. This celebration is called Vesak being the name of the month in the Indian calendar. The Key Beliefs of Buddhism In a nut shell the main beliefs are the four noble truths and the eightfold path these two things are the basis of which Buddhism is centered. The Four Noble Truths: 1. The First Noble Truth: â€Å"Life means suffering† This is saying that ultimately we must accept that we may get sick, we will get old and ultimately we will die. However it spreads to the psychological level as well, we will all suffer exclusion, loneliness, frustration and fear. 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Buddhism teaches us that life is, and full of suffering and that nothing in life is eternal. The ultimate goal of Buddhism is Nirvana, which means liberation from the constant cycle of life and death, andRead MoreThe Teachings Of Buddhism And Buddhism939 Words   |  4 Pagesfamous religion icon of all time the Buddhism. Many people became followers of this very wise man we know as the Buddha. Buddhism is based on the teaching of Siddhartha Gautama, Buddha, who was born in the Ganges River Valley, the foot of the Himalayas. The Buddha led people in meditation and enlightenment to the next level. Philosophers such as Santideva and Thich Nhat Hanh, have led the life to follow the Buddhism ways and live their day to day life off of it. Buddhism gave them the enlightenment toRead MoreThe Religion Of Buddhism And Buddhism1730 Words   |  7 Pageslife. The religion of Buddhism is one of these that had this effect when it began to spread from India where it originated, to many Asian countries especially China where it would have the biggest impact. In China, Buddhism would take root and would grow to become a popular religion in the country much like the other major religions of China, Confucianism and Taoism, which together with Buddhism would later be known as the â€Å"Three Teachings†. Additionally, at some point Buddhism would began to loseRead MoreReligion Of Buddhism : Buddhism963 Words   |  4 Pagesinterested in the religion of Buddhism. After I watched Oprah Winfrey’s television series, Belief Buddhism has become something I wished to look into on a deeper level. Therefore, On October 9, 2016, I visited Wesleyan college East Asian studies facilities to participate in their Sunday meeting of Practice and Talk. During this hour and a half meeting, individuals who are exploring Buddhism wil l learn the surface practice of Buddhism more specifically shin Buddhism. Shin Buddhism or the teachings of ShinranRead MoreBuddhism, Buddhism And The World Essay1999 Words   |  8 PagesBuddhism is the fourth largest religion in the world, with more than 5 million believers in the world. Buddhism is a kind of religion and law that contains various traditions, beliefs, and spiritual practices. Buddhism from India, between the sixth and fourth centuries BC, and gradually spread to Asia. Although Buddhism originated in India, China has many believers in the dissemination and contribution. Chinese Buddhism began in the Han Dynasty and became the most powerful in the Tang Dynasty. WithRead MoreBuddhism : The Popularity Of Buddhism1306 Words   |  6 PagesBuddhism Culture in China Instructor Dr. Jack Name: Zhoudongxue Zhang Student #: 100311725 Date: 26/11/2015 The Popularity of Buddhism in China Buddhism is one of the most popular religions in the world. The Pew Research Center reports that nearly 488 million people practice Buddhism, which represents 7% to 8% of the world’s entire population. Buddhism is mainly practiced in the Asia-Pacific region with approximately 481,290,000 Buddhists, which means 99% of Buddhists live in Asia-Pacific

My Life in a Page - 781 Words

Cough, cough. I’m sorry; please lean in close as I know I am not far from the Heavens. Pray, please listen to my story. Do you hear the sound of that baby? That was I breathing in my first breath. Ah, I can just smell the air of that spring day. I was born on March 18 1782 in Abbeville, South Carolina to Patrick and Martha Calhoun of Scotch-Irish descent. This hat here is an artifact from a confrontation between the Native Americans and my father and his family. My father lived but with four bullet holes to his hat but unfortunately my grandmother, two of my cousins, and my uncle did not make it. I graduated from Yale in the year 1804 but sadly I wasn’t able to deliver my senior speech â€Å"The Qualifications Necessary to Constitute a Perfect Statesman† since I was sick. I married my first-cousin-once-removed Floride Bonneau Calhoun on January 8, 1811. We had ten children together but only seven survived to adulthood. The other three died within a year of their birth. My fourth child, Anna Maria lived the longest, to the age of 58. She married Thomas Green Clemson who founded Clemson University. (http://www.clemson.edu/about/history/calhoun-clemson/johnccalhoun.html) I was called â€Å"The Young Hercules† and was described as â€Å"a master spirit who stamps his name upon the age in which he lives †¦ felling down the errors of his opponents with the club of Hercules.† (http://www.clemson.edu/about/history/calhoun-clemson/johnccalhoun.html) During and before the War of 1812 I was a warShow MoreRelatedAnalysis Of Four Seasons1515 Words   |  7 Pagestitled Four Seasons, it refers to the loss of a family member and the deterioration of that person in their final year of life. Life itself is represented in the book that draws upon happy memories with family. Death is also represented as the second life, where a parent might have to explain to a young child what happens when somebody dies and where are they now? 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In my opinion, what the lyricist refers as â€Å"food†Read MoreA Rose For A Slave Girl By Harriet Ann Jacobs1516 Words   |  7 PagesIn modern day American culture we can see many citizens striving to achieve the American dream of a brighter future, but imagine having your dream destroyed based on your physical appearance and ethnical background. In the novel Incidents in the Life of a Slave Girl by Harriet Ann Jacobs, the author writes in her first point of views and recounts her experiences as a slave during this time in American history which helps brings the attention of social issues amongst African American slave. The mainRead MoreThe Importance Of Corruption In Fahrenheit 4511209 Words   |  5 Pagesfingertips are banned. The dystopian novel that Ray Bradbury wrote takes you through the main character Guy Montag life as he discovers there s more to than what meets the eye. 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Test Bank Ch8 3616 Butler Free Essays

PART IV Managing the Risks of Multinational Operations Chapter 9 The Rationale for Hedging Currency Risk True/False 1. In a perfect financial market, financial contracts are zero-NPV investments. ANS: True. We will write a custom essay sample on Test Bank Ch8 3616 Butler or any similar topic only for you Order Now 2. If hedging currency risk is to add value to the stakeholders of the firm, then hedging must impact either expected future cash flows or the cost of capital or both. ANS: True. 3. If financial markets are informationally efficient, then corporate financial policy is irrelevant. ANS: False. Don’t confuse informational efficiency with a perfect market. Although the perfect market conditions ensure informational efficiency, informationally efficient markets can be imperfect. 4. Perfect financial markets are a necessary condition for corporate risk hedging to have value. ANS: False. Market imperfections are necessary conditions. 5. In perfect financial markets, corporate financial policy is irrelevant. ANS: True. 6. In a perfect financial market, the law of one price holds. ANS: True. 7. Equal access to perfect financial markets ensures that individual investors can replicate any financial action that the firm can take. ANS: True. 8. In perfect financial markets, corporate hedging policy has no value. ANS: True. 9. In perfect financial markets, corporate investment policy is irrelevant. ANS: False. Firm value depends entirely on the firm’s investments in a perfect financial market. 10. If corporate financial policy is to have value, then at least one of the perfect market assumptions cannot hold. ANS: True. 11. Real-world financial markets are perfect markets. ANS: False. Perfect markets are a theoretical ideal and not a practical reality. 12. Market imperfections are greater across national boundaries than within national boundaries. ANS: True. 13. In perfect financial markets, multinational corporations have an advantage over domestic firms in financing their investments. ANS: False. The law of one price holds in perfect financial markets. 14. Multinationals have a comparative advantage over domestic firms in exploiting cross-border differences in financial markets. ANS: True. 15. Progressive taxation is a system in which larger taxable incomes receive a higher tax rate. ANS: True. 16. Tax preference items are goods that are sold on a tax-free basis. ANS: False. Tax preference items are items such as tax loss carryforwards and carrybacks and investment tax credits that are used to shield corporate taxable income from taxes. 17. A call option is an option to buy an underlying asset at a predetermined price. ANS: True. 18. A call option is an option to â€Å"call in† or demand payment on a loan. ANS: False. A call option is an option to buy an underlying asset at a predetermined price. 19. Indirect financial distress costs are relatively unimportant for firms selling products for which quality and after-sale service are important. ANS: False. Reputation is easily eroded in these instances. 20. Managerial gamesmanship is least prevalent during financial distress. ANS: False. Gamesmanship is more prevalent during hard times. 21. Option values increase with an increase in the volatility of the underlying asset. ANS: True. 22. A decrease in the variability of firm value is good news for debt and bad news for the equity call option, other things held constant. ANS: True. 23. Corporate hedging of business risk unambiguously increases shareholder wealth when the firm is in financial distress. ANS: False. Because debtholders have first claim on corporate assets, corporate hedging of business risk helps debtholders first and may or may not help equityholders. 24. In the real world, corporate hedging policy can change expected future cash flows but is unlikely to reduce the cost of debt. ANS: False. Hedging policy can decrease the variability of firm value and can thus reduce the risk of debt and the required return charged by debtholders. 25. Direct costs of financial distress are far more important to corporate hedging decisions than are indirect costs. ANS: False. The indirect costs of financial distress influence the activities of firms not just in bankruptcy but prior to bankruptcy as well. 26. Underinvestment occurs when debtholders refuse to invest additional capital into the firm during financial distress. ANS: False. Underinvestment occurs when equity foregoes positive-NPV investments. 27. In financial distress, equity has an incentive to take on large risks in order to increase the value of the equity call option. ANS: True. 28. In Miller-Modigliani’s perfect world, the firm’s optimal investment criterion is â€Å"Accept all positive-NPV projects. ANS: True. 29. In practice, management’s objective is to maximize shareholder wealth. ANS: False. Managers act nominally as equity’s agents but, in actuality, in their own best interests. 30. Managers have little incentive to hedge company-specific risks. ANS: False. As undiversified stakeholders, managers are concerned with both systematic and unsystematic risk. 3 1. Managers have an incentive to hedge their unit’s transaction exposure to currency risk. ANS: True. 32. Hedging can increase firm value by reducing the costs of agency conflicts between managers and shareholders. ANS: True. 33. Exchange-traded options and futures contracts have a fixed cost per contract so that costs are proportional to the number of contracts traded. ANS: True. 34. The costs of hedging through operations are likely to be less burdensome for a large multinational corporation with diversified operations than for a small, less-diversified firm. ANS: True. Multiple Choice 1. The perfect market assumptions include each of the following except ____. a. equal access to market prices b. equal access to costless information c. frictionless markets d. rational investors e. table governments ANS: E 2. Frictionless financial markets could have which of the following? a. agency costs b. bid-ask spreads c. brokerage fees d. government intervention e. irrational investors ANS: E 3. Which risk management guidelines in a) through d) is not recommended by the Group of Thirty Global Derivatives Study Group? a. assess the credit risk arising from derivatives activities b. combine authority over trading and bookkeeping functions into a single department c. quantify market risk under adverse market conditions and perform stress tests d. alue derivatives positions at market e. all of the above are recommended ANS: B 4. Which of a) through d) is unlikely to result in a decision to hedge currency risk? a. bid-ask spreads on foreign exchange b. costs of financial distress c. differential taxes on income from different tax jurisdictions d. stakeholder game-playing e. all of the above are incentives to hedge ANS:A 5. Which of the following factors does not contribute to tax schedule convexity? a. Alternative Minimum Tax (AMT) rules in the United States b. progressive taxation c. sales taxes d. ax preference items e. all of the above contribute to tax schedule convexity ANS: C 6. Indirect costs of financial distress impact the firm in each of the following ways except ____. a. higher financial costs b. higher legal costs in bankruptcy c. higher operating costs d. lower revenues e. stakeholder gamesmanship ANS: B 7. Which of statements a) through c) regarding costs of financial distress is false? a. Both debt and equity unambiguously benefit from corporate risk hedging. b. Hedging can increase expected cash flows by reducing the costs of financial distress. c. Hedging can reduce debtholders’ required return and hence the cost of capital to the firm. d. All of the above are ANS: True. e. None of the above are ANS: True. ANS: A 8. Which of the following was most responsible for the collapse of Barings Bank? a. bankruptcy proceedings b. failure to monitor the activities of its traders c. index arbitrage d. index futures and options trading e. the 1991 fall in share prices on the Tokyo stock exchange ANS: B 9. Management has an incentive to hedge which of the following exposures? a. operating exposure b. transaction exposure c. ranslation (accounting) exposure d. all of the above e. none of the above ANS: D 10. Tax schedules are said to be progressive when ____. a. the effective tax rate is greater at high levels of taxable income than at low levels b. the effective tax rate is greater at low levels of taxable income than at high levels c. they do not discriminate on the basis of race, creed, or color d. when tax rates vary by the age o f the taxpayer e. none of the above ANS: A Problems 1. In what way is equity a call option on firm value? Tax schedule convexity: progressive taxation 2. Suppose corporate income up to $250,000 is taxed at a rate of 25 percent. Income over $250,000 is taxed at 40 percent. The taxable income of Quack Poultry will be either $200,000 or $300,000 with equal probability. Quack’s income variability arises entirely from an exposure to currency risk. a. Draw a graph like Figure 9. 2 depicting tax schedule convexity in the United States. b. What is Quack’s expected tax liability if it does not hedge its currency risk? c. What is Quack’s expected tax liability if it is able to completely hedge its currency risk exposure and lock in taxable income of $250,000 with certainty? . In what way does hedging have value for Quack Poultry? Direct and indirect costs of financial distress 3. A firm based in the United Kingdom has promised to pay bondholders ? 10,000 in one year. The firm will be worth either ? 9,000 or ? 19,000 with equal probability at that time depending on the value of the dollar. The firm will be worth ? 14,000 if it hedges against currency risk. a. Identify the values of debt and equity under unhedged and hedged scenarios assuming there are no costs of financial distress. b. Suppose the firm will incur direct bankruptcy costs of ? ,000 in bankruptcy. Identify the value of debt and of equity under both unhedged and hedged scenarios. c. In addition to the ? 1,000 direct bankruptcy cost, suppose indirect costs reduce the asset value of the firm to either ? 6,000 or ? 18,000 (before the ? 1,000 direct bankruptcy cost) with equal probability. Hedging results in firm value of ? 12,000 with certainty. Identify the value of debt and of equity under both unhedged and hedged scenarios. d. Can hedging add value to shareholders in this problem? Problem Solutions 1. If the firm’s assets are worth more than that promised to debtholders, equity will exercise its option to buy the assets of the firm from the debtholders at the exercise price. If firm assets are worth less than the promised claim, equity will not exercise its option and debt assumes control of the firm. Tax schedule convexity: progressive taxation 2. a. [pic] b. Expected taxes with no hedging: (? )[($200,000)(0. 25)] + (? )[($250,000)(0. 25)+($50,000)(0. 40)] = (? )($50,000) + (? )($82,500) = $66,250. c. Expected taxes with hedging: ($250,000)(0. 5) = $62,500 $66,250. d. Hedging allows Quack to minimize its expected tax liability. This increase in expected future cash flows to equity results in an increase in equity value. 3. a. If firm value is ? 9,000, equity will not exercise its option to buy the firm at a price of ? 10,000. In this case, equity receives nothing and debt receives ? 9,000. If the firm is worth ? 19,000, equity pays the bondholders ? 10,000 and retains the residual ? 9,000. Firm value can be broken down into E[VFIRM] = E[VBONDS] + E[STOCK] = [(? )(? 9,000)+(? )(? 10,000)] + [(? )(? 0)+(? (? 9,000)] = ? 9,500 + ? 4,500 = ? 14,000. Hedged, firm value can be broken down into VFIRM = VBONDS + VSTOCK = ? 10,000 + ? 14,000 = ? 14,000. In the absence of costs of financial distress, the reduction in the variability of firm value results in a reduction in call option value and a ?500 shift in value from equity to debt. b. Unhedged, firm value is decomposed as: E[VFIRM] = E[VBONDS] + E[STOCK] = [(? )(? 9,000 1,000)+(? )(? 10,000)] + [(? )(? 0)+(? )(? 9,000)] = ? 9,000 + ? 4,500 = ? 13,500. With hedging, VFIRM = VBONDS + VSTOCK = ? 10,000 + ? 4,000 = ? 14,000. As in the previous example, the reduction in the variability of firm value is accompanied by a ? 500 transfer of wealth from equity to debt. Hedging also avoids the deadweight ? 1,000 bankruptcy cost and yields an expected gain of (? )(? 1,000) = ? 500. In this example, debt captures the expected gain of ? 500. Equity will capture some of the gain if hedging results in lower interest payments on the next round of debt. c. Unhedged, firm value is E[VFIRM] = E[VBONDS] + E[STOCK] = [(? )(? 6,000 1,000) + (? )(? 10,000)] + [(? )(? 0)+(? )(? 8,000)] = ? 7,500 + ? 4,000 = ? 11,500. If the firm hedges, then VFIRM = VBONDS + VSTOCK = ? 10,000 + ? 2,000 = ? 12,000. This is the same as b) after including indirect costs of financial distress with an expected value of [(? )(? 9,000 6,000)+(? )(? 19,000 18,000)] = ? 1,500+? 500 = ? 2,000. d. Hedging can add value to shareholders if they can negotiate lower interest payments on debt because of their hedging policies. Even in financial distress, equity could offer to renegotiate the bond contract to more evenly share the gain in firm value from hedging. In this way, they can share in any gain from reducing the probability and costs of financial distress. How to cite Test Bank Ch8 3616 Butler, Papers

What Caused the Dust Bowl free essay sample

The early 1900s were a time of turmoil for farmers in the United States, especially in the Great Plains region. After the end of World War I, overproduction by farmers resulted in low prices for crops. When farmers first came to the Midwest, they farmed as much wheat as they could because of the high prices and demand. Of the ninety-seven acres, almost thirty-two million acres were being cultivated. The farmers were careless in their planting of the crop, caring only about profit, and they started plowing grasslands that were not made for planting. Because of their constant plowing year after year and the lack of rainfall, the soil was quickly losing its fertility. With unfertile, dry land, the wheat crop started dying, and then blowing away with wind. Due to the improper farming, along with a long drought, dust storms made life in the Dust Bowl very burdensome. During the 1930s, the Great Plains was plagued with a drought, a long period of dryness, which brought demise to many of the farmers in the region. We will write a custom essay sample on What Caused the Dust Bowl? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This horrible drought started in 1930, a year that saw heavy rains in a very short time, which cause flooding in many areas of the Oklahoma Panhandle. The year continued to with horrible blizzards in the winter and a drought into the late summer. Many of the farms in the Great Plains, losing most of the crop, were greatly affected by the first droughts of the 1930s. The months of July and August saw about a forty-percent decrease of precipitation compared to previous years. From 1934 to 1936, A record drought hit the southwestern region. In 1934 the temperature was excruciatingly hot, causing many to die as a result of the heat. 1935 was a year where rainfall was very, very scarce. The heat began to rise at fast rates in the summer of 1936, with many days reaching above 120 degrees. The drought, along with the dust storms, were major reasons for poor farming in the Great Plains during the early to mid-1930s. Because of the drought, the ground became very dry in the Great Plains. This area, known as the Dust Bowl, was a region of horrible dust storms during most of the 1930s. The storms accompanied the drought and intensified the problems of the farmers. With the drought, many fields were not in a situation to grow crops. Since the fields were so dry, the topsoil would easily blow away with the passing  wind. In 1932 many fields were starting to be brutally damaged by the dust. The Oklahoma Panhandle was hit for twenty-two straight days of dust storms, which created drifts everywhere. This flying dirt killed off much of the crops. In a one-year span 139 days were considered to have had dust storms. Even though the dirt storms were less common in 1934, it was the year in which national attention was gained for the region because of the extreme heat. Also in 1934, approximately 350 million tons of soil was lost in just one storm. The following year was a time of large, powerful dust storms. During the month of May in 1935, a storm known as Black Sunday created winds up to sixty miles per hour and left many farms ruined. The storms were normality by 1935, and extreme weather was a common characteristic. The number of storms began to rise again in 1936, and the temperatures became scorching. But by the end of 1936, rain started to fall once again; however, the droughts soon returned and forced many farmers to leave their fields and to move west. By 1938 there was mixture of snow and dirt that reached blizzard like sizes, which were call snusters. These storms caused a great amount of destruction to the farms and sorrow to the farmers. With farms in horrible conditions, farmers in the Dust Bowl found farming a very difficult task. President Roosevelt and his New Deal tried to ease the pains of the farmers. The Agricultural Adjustment Administration (AAA) was formed to help out the farmers in their time of need. It paid farmers not to farm parts of their land to get prices back up. The Supreme Court ruled the AAA unconstitutional in 1936. Congress responded by passing the Soil Conservation and Domestic Allotment Act of 1936, which paid farmers to plant soil-conserving crops such as soybeans, or they could leave their land fallow. The AAA helped to lift the burden put on many farmers during the dirty 1930s, but the almost every farmer suffered greatly due to the drought, their farming, and dust storms.