5 Tips About Freelance Work

5 Tips About Freelance Work 5 Tips About Freelance Work 5 Tips About Freelance Work By Mark Nichol Self-employment is not for everyone, but many publishing professionals thrive, or at least survive, in a freelance capacity. Before you decide whether to join them, however, keep these factors in mind: You probably won’t get rich from freelance writing or editing, but the qualitative rewards are manifest. Self-employed editorial professionals are hereby excused from useless, time-wasting, poorly run meetings. (Freelancers sometimes need to attend in-person or online meetings as part of a project they’ve been hired for, but such gatherings tend to be more efficient than the average company or department to-do.) Freelancers also are fortunate enough to be able to avoid demoralizing company policies, depressing workplace ambience, petty office politics, inept managers, and annoying colleagues. Then there’s that whole commuting thing and no traffic reports (unless you want to tune in just for the sake of nostalgia). When you work at home, you also get to choose what kind of clothes you wear or whether you wear anything at all. But self-employment is a challenge, especially for those who do not have a strong aptitude for business management after all, you, as a freelancer, are running a business. Therefore, you have no one but yourself (unless you hire someone) to manage your finances or your marketing. Each year, if you’re a US citizen, you must submit a profit-or-loss statement and figure (and pay) a self-employment tax, and you should always be working on getting your next project while you’re completing your current one. Furthermore, your income will be variable. And if you’re paid a flat fee, false starts and dead-end ideas don’t earn you any money. Fiction writers, especially, have to put in seemingly endless hours in a gamble to earn a decent living in royalties and you’re nowhere near done even when the not-so-final draft of your manuscript is accepted. Still determined to go independent? Then follow my advice: 1. Find an anchor client. Your first priority is to enter into a relationship with a company that provides you with a steady source of work that provides you with enough income to get by. Everything else is just frosting on the cake, but bake the cake first. 2. Don’t be particular at first. Certainly, you should search your soul for what kind of content you’d like to work on. But when you’re starting out, accept any assignment that involves writing or editing words and, even though you should have a pay range in mind, be prepared to accept less compensation than is ideal. You can always ask for a â€Å"raise† later, and you can always increase your rate when you are engaged by new clients. 3. Be flexible about your rates. I’ve varied my hourly editing rate by up to $50, depending on the client. Online research will yield extensive information about the market rate for writing and editing in various media, in different industries, and so on. You may very well end up straddling two or more markets, and your pay rate may vary substantially. (Also, if you’re asked what rate you’ll accept, rather than offered one, propose a range with a $5-$10 differential starting at your minimum.) 4. Don’t give up your day job. Not right away, at any rate. Nights, weekends, summer vacations for educators these are the opportunities to wade into the freelance pool. Even if your steady job is making you mentally unsteady, stick it out until you have an anchor client. The transition period may exhaust you as you try to juggle full-time work, your personal life, and your efforts to start your own business, but you may be able to jettison your job sooner than you think. (Or you can work for a part-time salary and be self-employed, too.) 5. Keep it simple. You don’t need much in the way of infrastructure. You can probably get away without business cards. You don’t need a fancy-looking invoice template. Some self-employed people rent a small office or use an outbuilding as a way of separating their professional life from their personal one, but few of us can afford that luxury. Turning a spare room into an office, or using an existing study, or even setting aside part of a bedroom or a family room, is sufficient for most people. (But make sure others in your household know that when you’re on the clock, you’re off limits.) Remember, too, that self-employment will always be hard work but virtually any employment is a hard work, and being your own boss is its own reward. Note: The DWT Freelance Writing Course will re-open September, so stay tuned. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Freelance Writing category, check our popular posts, or choose a related post below:100 Beautiful and Ugly WordsOne Sheep, Two Sheep, One Fish, Two Fish . . .Passed vs Past

religion essays

religion essays Syed Shah September 15, 2004 Mr. Flynn 305/01 Throughout history, people have established different systems of government. They have been based on different views of how people should be ruled. There are many types of governments. Some types of governments are democracy, republic, monarchy, communism and many others. The democratic government was first introduced by Ancient Greece. The democratic government is a political system in which the people of a country rule through any form of government they choose to establish. In modern democracies, supreme authority is used for the most part by people elected by vote. In a democratic government majority rules. Monarchy has been around since the Egyptians. The pharaoh was the King of the monarchy. A monarchy is a form of government in which one person has the hereditary right to rule as head of state during his or her lifetime. Monarchs include such rulers as kings and queens, emperors and empresses, tsars, and Kaisers. In a monarchy the person really doesnt deserve the position and the only reason they get it because of hereditary right or they were born into the royal family. I think a democratic government is better because it lets the people chose. They chose their leaders and the leaders they vote for are the ones that have similar ideas with them and the people know what the best is for the people. They experience everyday life and they know what the problem is in their society. In a Monarchy the King or Queen do what they think is right and they might not know what happens in the society. They dont know the problems the people are facing with unless advised. There are many different types of governments. Each government was suitable for its civi ...

How does the human body defend itself against pathogens Essay

How does the human body defend itself against pathogens - Essay Example Communicable illnesses are transmitted by germs particularly bacteria, viruses, and fungi. It is also important to explicate the fact that there are various points of entry of these germs into the human body. Some of these points of entry include the mouth, nose, and injured areas of the skin. Some illnesses are transmitted by insects such as malaria. There are three defence lines in the body. The first line of defence include the skin, second line of defence include the white blood cells, while the third line of defence involves the lymphatic system. Once germs or pathogens enter into the human body, the body reacts automatically to fight these germs. However, if the body is not in a position to confront these pathogens, the germs react by reproducing themselves and subsequently assault the numerous cells in the body in large numbers. The result is serious illnesses that can be life threatening. Other than pathogens, illnesses can also result due to abnormalities in the body itself. For instance, some diseases such as cancer are caused by abnormalities in the body, as mentioned earlier (Rosdahl and Kowalski, 2008). Nevertheless, the focus in this paper is pathogens. There are various ways that the body defends itself against disease causing pathogens or micro-organisms. The skin is the outer coating of the human body. In simple terms, the skin functions as a tool that blocks or barricades disease causing pathogens from entering the body. The outer layer of the skin is known as epidermis. This layer is important in defending the body against pathogens as it functions as a wall or blockade that blocks grime and pathogens out. The components that make up the skin are structured in a very compact way such that disease causing micro-organisms can penetrate only in case the skin is injured. The skin also prevents the entry of pathogens through notifying or sending signals to the immune system of an impending

Early twentieth century arts Essay Example | Topics and Well Written Essays - 750 words

Early twentieth century arts - Essay Example The renaissance was a cerebration of the African-American heritage which was expressed through art, music, literature and dance (Watson 19). The Harlem renaissance began to wind down in the year 1929; this was partly caused by the great depression because financial necessities became of more importance than the artistic expression. Great waves, of the African-Americans, travelled to the northern cities so that they may seek employment opportunities in many factories, which were available in response to World War 1. These African-Americans were forced to settle in urban segregated housing, due to the social attitudes of the 20th century, and ended up creating metropolises. This caused that period of artistic and intellectual activity in the African American community, in New York, which finally lead to the Harlem Renaissance (Watson 19). The Harmon foundation was started by one of the many white Americans who expressed interest in the artistic eruption of the black Americans. He established the foundation in the city of New York. The main aim of the foundation was to recognize the African American achievements, in fine arts and also in other fields like, music, farming, relations, literature, race, education, science, religious service and business (Watson 19). Some scholars are today critics of the Harmon foundation. They say that the foundation puts emphasis on the celebration of the African-American cultural achievements and overlooks the difficult living conditions that are found in many black suburbs in urban settings. Many artists have been given support by the Harmon foundation. They include artists such as; Robert Russa Moton, Hale Woodruff, Palmer Hayden, Langston Hughes, Archibald Motley, Countee Cullen and Claude McKay. All the above named artists have all received various awards in fine arts and literature (Watson 19). Jackson’s works of Art

MS ITM Core Learning Objectives Thesis Example | Topics and Well Written Essays - 3000 words

MS ITM Core Learning Objectives - Thesis Example This objective can also be related with all three issues as it is highly important for all involved stakeholders to take their responsibility in the process of finding and implementing solutions. ECONOMICS OF INTERNATIONAL TRADE  » Issues of International Trade which deal with real transactions that involve physical movements of goods and services. Yes all are relevant. The first issue involves movement of energy resources, second issue involves health problems due to movement of goods and services by vehicles which generate poisonous gases, whereas airplanes use more energy resources to transport goods and services from one place to another.  » Theory of international trade and issues of trade policy. First two issues are relevant. Theories have been developed for trade of energy resources and pollution generated by vehicles using these fuels. Third issue is not relevant.  » Basics of International Finance theory & policy implications. All three issues are irrelevant. Internat ional finance trade involve balance of payment, exchange rate, global financial system, foreign direct investment, and the affect of these resources towards international trade MIS IN TRANSPORTATION  » Use IT-enabled management information systems. All issues are relevant because IT-enabled management information systems help to solve these issues  » Who, what, when, where, why, how of IT deployment. All are relevant because it is necessary to answer who, what, when, where, why and how the IT based management system should be used to solve issues.  » Examples of IT use from industry sectors All issues are relevant because examples of IT use in the transportation industry help to use appropriate IT model to solve these issues.  » Contemporary IT deployment for Global Intermodal...The learning objective is very relevant with the three issues discussed previously. All the three issues need proper Information system in order to solve them. The system should collect data and dete rmine the best appropriate way to resolve these issues. Therefore, a report must be prepared in a written form which should describe the plan, analysis and designs for construction and implementation of business information system. The report should be prepared by considering the above issues. For example, the report must ensure a plan which is useful to develop a system in order to find out the appropriate Energy Resources Transit Model. Employ electronic software to enhance oral and written communication about an information system Information systems have taken important place in the daily operations of any organization (Laudon and Laudon, 2010). The three issues being analyzed and discussed can also be related with this learning objective. To develop a proper information system to solve above issues, a suitable software must be designed which is helpful in oral and written communication for an information system. All the issues must be treated using software so best possible solution can be obtained. It is important to understand the different phases and dimensions associated with the system process in order to come up with proper systematic solutions for the all issues being discussed.

Effects of Marginalizing Social and Environmental Reporting

Effects of Marginalizing Social and Environmental Reporting AIM The aim of this research work is to observe and analyze the implications of marginalizing Social and Environmental reporting and explain how such reporting can be strengthened. RESEARCH OBJECTIVES Problem statement Conventional accounting reports place more emphasis on the financial performance of reporting entities compared to their social and environmental performance. Guidance on social and environmental reporting is currently provided by organizations outside the accounting profession, such as AccountAbility (AA) and the Global Reporting Initiative (GRI). We are going to discuss the implications of marginalizing social and environmental reporting. We will also shed light on how such reporting can be strengthened. Objectives To shed light on the above we will try to find out the following in our project: Identify what has impelled the need for social and environmental reporting. Identify how and why Social and Environmental reporting is being incorporated by entities into their reporting. Identify the alternative approaches to Social and Environmental reporting. Illustrate the relevance of the guidelines presented by organizations such as AccountAbility and Global Reporting Initiatives on Social and Environmental Reporting. Discuss the nature of voluntary disclosure. State the implications of marginalizing Social and Environmental reporting. Outline how such reporting could be strengthened and be effectively incorporated by reporting entities. RESEARCH METHODS The following methods were used to gather information to compile this project: Literature review was done. Previous working papers and journal articles of different accounting professionals and authors were analyzed in order to attain information that was both relevant and reliable in regards to social and environmental reporting. We also interviewed Mr Napolioni Batimala (Audit Manager à ¢Ã¢â€š ¬Ã¢â‚¬Å" PWC) to derive the current information available regarding the issues concerning social and environmental reporting and its current stand. Case studies on three Fiji companies were conducted, in order to determine the situation in Fiji regarding Social and Environmental reporting. A qualitative data analysis of the results was carried out. These were selected based on their extensive environmental (FSC) and social (BAT) impacts. FMF was also considered, as it is the largest, manufacturing company in the country. British American Tobacco Fiji Ltd Fiji Sugar Corporation Flour mills of Fiji Library research was also conducted. Extensive archival research and literary research from respective journals was carried out in order to find extensive views and analysis and to get insight on past research and current thoughts on this topic. Annual reports were analyzed such as: British American Tobacco (2005 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 2007) FSC (2005 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 2008) Flour Mills of Fiji (2005-2008) Internet research was conducted as well. Proquest references were sourced to get hold of electronic journals for the issues of journals that USP library does not hold. The access of Internet references provided more up-to-date statistics and secular information that were available in library references. The South Pacific Stock Exchange (SPSE) website was also extensively visited. Corporate websites for these companies were also visited. This project was compiled from discussion generated in our group during meeting in which information obtained by the methods mentioned above were extensively analyzed. ACKNOWLEDGEMENTS The research topic we undertook reflected the social and economic reality of many countries. It no doubt is an indication of the future of many companies in Fiji itself. This project would not have been possible without the contribution of the following authorities and individuals for providing us with latest information and their views on social and environmental reporting. We are very appreciative to: Mr. Tevita Veituna Our Tutor Mr. Nacanieli Rika The Course Co-coordinator Mr. Napolioni Batimala à ¢Ã¢â€š ¬Ã¢â‚¬Å" Audit Manager (PWC) The organizations and individuals who have contributed information We would like to take this opportunity to thank anyone else who contributed towards the project in any way possible. DECLARATION OF ORIGINALITY We, Rieaz, Moreen, Priya and Zafeen hereby declare that the information presented in this project is our original work and correct to date. All the working papers especially used in the literature review or in guidance of this project are clearly referenced in the bibliography with in text referencing given after the various quotations used. RATIONALE With the emergence of many social and environmental problems globally including gender discrimination in the workforce, and excessive use of child labor, à ¢Ã¢â€š ¬Ã…“the thinning of the ozone layer and global warming, deforestation, species extinction, waste disposal, energy usage land, air, and water pollution, usage of toxic chemicals, and resource scarcity together with the occurrence of significant environmental disasters such as the Exxon Valdez oil spill and the Bhopal gas leakà ¢Ã¢â€š ¬? (Lodhia, S., 2004: p.111) and the growing power of the media to air these issues worldwide together with the apparent popularity of vocal special interest groups such as Greenpeace and Amnesty International, has resulted in à ¢Ã¢â€š ¬Ã…“increased community attention towards the identification of approaches to deal more effectively with these concernsà ¢Ã¢â€š ¬?(Wilmshurst Frost, 2000). This is what the Association of Chartered Certified Accountants (2001) has to say, A combination of growing awareness of environmental issues by the general population and increased non-governmental organization (NGO) pressure and activity has led many corporations to reflect on and revise their corporate environmental responsibilities. This heightened anxiety amongst the members of society over the adverse effects of business operations on the physical and social environment has culminated into what is referred to as social and environmental reporting, or synonymously, corporate social responsibility reporting (CSR). Social and environmental reporting as acknowledged by Deegan (2006) is à ¢Ã¢â€š ¬Ã…“reporting that typically involves the provision, to a range of stakeholders, of information about the performance of an entity with regard to its interaction with its physical and social environment, inclusive of information about an entityà ¢Ã¢â€š ¬Ã¢â€ž ¢s support of employees, local and overseas communities, safety record and use of natural resources.à ¢Ã¢â€š ¬? This seminar paper endeavors to report on the main issues concerning social and environmental reporting. Thus, it will seek to address the following issues in relation to social and environmental reporting: how specific accounting theories help us to understand it, its perceived benefits to the reporting entities and society and some alternative approaches to social and environmental reporting such as AccountAbility and Global Reporting Initiative. It is important to note that in Fiji, social and environmental reporting is voluntary in nature. Furthermore, the implications of marginalizing social and environmental reporting is also discussed together with suggestions on how this type of reporting can be strengthened. INTRODUCTION Conventionally, the accounting function of business organizations have been based on the accounting entity, measurement of economic events in financial terms and users of reports who are only concerned with the financial implications of entity on business position and performance. However, there has been emerging a new focus in business reporting in this era where there are now various stakeholders who are demanding information on social and environmental performance of entities to be disclosed as well as financial performance. These demands have increased pressures on entities to use social and environmental issues in the decision-making process. This is particularly vital for the South Pacific Island communities, which have been plagued by a range of environmental problems culminating in sea-level rise and unexpected climatic change in the Islands. These issues are also critical in Fiji and in recent years growing public awareness has resulted in closer scrutiny of the activities of the major industries that may be contributing to environmental degradation. The oil spillages in Suvaà ¢Ã¢â€š ¬Ã¢â€ž ¢s major industrial area, Walu Bay (Fiji Times, 19 April 1998; Fiji Sun, 2 Feb 2000) and many activities as such have provoked the need for appropriate environmental and social legislation in Fiji. Many companies throughout the world publish reports that discuss their economic, environmental and social performance. This evidently shows that companies today are now embracing sustainability as a corporate goal, rather than simply aiming for profitability. These practices represent moves towards sustainable development by these organizations, which require these entities to unequivocally consider various aspects of their economic, social and environmental performance. ( Deegan 2006 p.327) Such disclosure includes that in-printed form such as- Examples standalone environmental reports, triple bottom line reports, sustainability and annual reports. In addition information that is disseminated on the Internet via corporate websites. (Hooks van Staden 2007 p.197) These social reporting practices are often referred to as corporate social responsibility reporting, or sustainability reporting. The latter covers aspects of both financial sustainability and performance, and social and environmental sustainability.(Deegan 2006 p.329) The moral arguments for greater corporate social responsibility arise from the increases in size, power and spread of multinational companies, as well as an increased awareness of the impact of companies on the environment and local communities.(Adams 2004 pg.731) This increase in awareness has been brought about by the media, the Internet, and the action of non-governmental organizations. These social reporting practices are often referred to as corporate social responsibility reporting, or sustainability reporting. The latter covers aspects of both financial sustainability and performance, and social and environmental sustainability.(Deegan 2006 p.329) The moral arguments for greater corporate social responsibility arise from the increases in size, power and spread of multinational companies, as well as an increased awareness of the impact of companies on the environment and local communities.(Adams 2004 pg.731) This increase in awareness has been brought about by the media, the Internet, and the action of non-governmental organizations. Social and environmental reporting developed as stakeholders began to demand information on other aspects of an organizationà ¢Ã¢â€š ¬Ã¢â€ž ¢s operations, apart from their financial performance. Stakeholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ expectations and needs have extended to the entitiesà ¢Ã¢â€š ¬Ã¢â€ž ¢ social and environmental performance. These were in the form of widespread interest of stakeholders in terms of demand for social reports of entities, pressure from environmental lobby groups to increase environmental disclosures, and also the increased competitiveness of the business environment where stakeholders today demand more accountability and transparency from organizations, concerning the utilization of their resources. Our project will basically emphasize on social and environmental reporting by business firms. We will also shed light on the organizations outside the accounting profession namely, AccountAbility (AA) and the Global Reporting Initiative (GRI) who are providing guidance on social and environmental reporting. It also incorporates the implications of marginalizing social and environmental reporting and how such reporting can be strengthened and effectively be incorporated by reporting entities. The various theories relating to voluntary disclosure are looked at, such as the legitimacy theory, stakeholder theory and institutional theory etc. How the information is reported and what implications it might have on the users of social and environmental information, in helping make decisions is also discussed. An analysis on some Fiji companies has also been undertaken to determine the extent of environmental and social reporting. However, social and environmental reporting in Fiji, is voluntary in nature to this day. THEORETICAL UNDERPINNINGS The different theoretical perspectives need not be seen as competitors for explanation but as sources of interpretation of different factors at different levels of resolution. In this sense, legitimacy theory and stakeholder theory enrich, rather than compete for, our understandings of corporate social disclosure practices. (Gray, Kouhy and Lavers 1995 ) Specific accounting theories help us to understand social and environmental reporting, by seeking to explain why many organizations publicly release information about their social and environmental performance, even with the general lack of regulation in this area. That is, it helps us understand what motivates entities to release this information voluntarily. LEGITIMACY THEORY According to Lindblom, legitimacy is à ¢Ã¢â€š ¬Ã…“a condition or status which exists when an entitys value system is congruent with the value system of the larger social system of which the entity is a part. When a disparity, actual or potential, exists between the two value systems, there is a threat to the entitys legitimacy.à ¢Ã¢â€š ¬?[1] This theory asserts that organizations continually seek to ensure that they are perceived as operating within the bounds and norms of their respective societies (which change over time), that is, they attempt to ensure that their activities are perceived by outside parties as being legitimate. Information disclosure is therefore vital to establishing corporate legitimacy.(Deegan 2006 pg.275) Under Legitimacy Theory, an entity would undertake certain social activities (and provide an account of this), if management recognizes that the particular activities were expected by the society in which it operates. It is part of their social contract, or as is often stated by companies, part of their license to operate. If an entity fails to undertake these activities that are expected by the community, it would be identified as breaching its social contract. This will result in the entity no longer being considered legitimate. Therefore this will have an effect on the support the entity receives from the society, and consequently its survival. Hence, success for an entity under this theory is impendent on it fulfilling its social contract. Lindblom, 1994 and Patten, 2000 state that à ¢Ã¢â€š ¬Ã…“according to legitimacy theory, social disclosure is a means to deal with the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s exposure to political and social pressuresà ¢Ã¢â€š ¬? (as cited in Freedman Jaggi 2005). Those companies without much regard to environmental and social performance might find it faced with sanctions or explicit regulations imposed on them. In addition, they may also find it very difficult to obtain resources and finance or find the support of the community in which it works in the form of employee dissatisfaction. Legitimacy theory assumes that society will allow an organization to continue operations up until the firm meets the societyà ¢Ã¢â€š ¬Ã¢â€ž ¢s expectation. And the firm generally meets expectations to avoid further government regulations on operations or bad effects on reputation. But if there are some expectations that the management feels are unreasonable, they may try to change stakeholder expectations or try to justify their actions. Legitimacy theory has been examined in numerous empirical studies with the results being fairly consistent in confirming the theory. For example the Deegan and Gordon (1996) study indicated among other findings, that there was a positive correlation between the environmental sensitivity of the industry to which the corporation belonged and the level of corporate environment disclosure. In addition, another study by Deegan, Rankin and Vought (2000) found that companies did appear to change their disclosure policies around the time of major company and industry related incidents. That is, social disclosure policies in the annual reports of companies tended to change when major social incidents or disasters occurred in the industry. However, legitimacy is not only achieved by the actual conduct of the organization. Legitimacy is gained as long as the society perceives that the firm is acting responsibly. But sometimes, the societyà ¢Ã¢â€š ¬Ã¢â€ž ¢s perceptions are quite misplaced as information disclosures, which are vital to establishing legitimacy do not give an accurate account of the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s activities. à ¢Ã¢â€š ¬Ã…“An organization may diverge dramatically from societal norms yet retain legitimacy because the divergence goes unnoticed.à ¢Ã¢â€š ¬?(Suchman, 1995, p. 574) So if society does not know that a firm is not acting ethically, then legitimacy cannot be threatened. Lindblom describes 4 strategies of legitimization that an organization can adopt. The firm may seek to: educate and inform its à ¢Ã¢â€š ¬Ã‹Å"relevant publicsà ¢Ã¢â€š ¬Ã¢â€ž ¢ about actual changes in the organisationà ¢Ã¢â€š ¬Ã¢â€ž ¢s performance and activities. change the perceptions of the relevant public without having to change the organisationà ¢Ã¢â€š ¬Ã¢â€ž ¢s actual behaviour manipulate perception by deflecting attention from the issue of concern to other related issues through an appeal to, for example, emotive symbols change external expectations of its performance Hence, we can conclude from the perspective of this theory that, social and environmental reporting may be just a tool that entities use to legitimize or justify their operations. Particularly in the case of entities in industries which have extensive environmental and social impacts. For example, petroleum, oil or gas companies, tobacco producers, pharmaceutical companies, and manufacturing companies. STAKEHOLDER THEORY Stakeholder theory is concerned with how management addresses the various issues associated with relationships with stakeholders. In other words, it is how an organization manages its stakeholders. According to Freeman (1984), traditionally, the firms used the inputs of investors, suppliers and employees to convert inputs into usable outputs which customers use and return to the firm some capital benefit. By this, firms only address the needs and desires of those four parties which are investors, suppliers, employees and customers. Stakeholder theory acknowledges that there are other parties involved, including governmental bodies, political groups, trade associations, trade unions, communities, and associated corporations. This view of the firm is applied to identify the specific stakeholders of a corporation, that is, the normative theory of stakeholder identifies as well as examines the conditions under which these parties should be treated as stakeholders, the descriptive theory of stakeholder. The two make up the modern treatment of Stakeholder Theory. It attempts to describe, prescribe, and derive alternatives for corporate governance that include and balance a multitude of interests. In the ruling paradigm of corporate governance, those who invest their capital into any type of business, and those who risk losing their investment in parts or in total, have a right and a responsibility to govern the business they have invested into. Capital investors or principals either govern the business themselves, or they do so with support of agents or managers who they may appoint. One way to sum up the use of the stakeholder concept in the management literature and stakeholder theories is by reference to the framework suggested by Donaldson and Preston (22). It can be used in a number of ways, they identify a descriptive, and an instrumental and a normative aspect of stakeholder theory that can help understand and classify the different facets of stakeholder theory. They argue that: Stakeholder theory is descriptive as à ¢Ã¢â€š ¬Ã…“it describes the corporation as a constellation of cooperative and competitive interests possessing intrinsic valueà ¢Ã¢â€š ¬? (p.66). This is also known as the positive approach. Stakeholder theory is instrumental since à ¢Ã¢â€š ¬Ã…“it establishes a framework for examining the connections, if any, between the practice of stakeholder management and the achievement of a variety of corporate performance goalsà ¢Ã¢â€š ¬? Lastly, à ¢Ã¢â€š ¬Ã…“the fundamental basisà ¢Ã¢â€š ¬? of stakeholder theory is normative and involves acceptance of the following ideas: à ¢Ã¢â€š ¬Ã…“stakeholders are persons or groups with legitimate interests in procedural and /or substantive aspects of corporate activityà ¢Ã¢â€š ¬? and à ¢Ã¢â€š ¬Ã…“the interests of all stakeholders are of intrinsic valueà ¢Ã¢â€š ¬? The difference between the three uses of stakeholder theory is explained by the fact that they imply different types of claims and include different forms of reasoning for their justification. Positive (or descriptive) uses of stakeholder theory make claims to truth and are justified through constative discourses, strategic (or instrumental) uses make claims of effectiveness and employ pragmatic discourses, and normative uses of stakeholder theory can entail different types of claims (rightness, goodness) and be justified through different types of discourses (moral, ethical). However, this research report is limited to explain that the stakeholder theory comprises of an ethical/moral or normative branch also known as the prescriptive branch and a positive or managerial branch. The ethical or normative branch of the stakeholder theory basically deals with fairness, that is, to treat all stakeholders the same. While the positive or managerial approach focus more on the ability of the stakeholders to influence or be influenced by a company. It is primarily a theory of the private-sector firm although the insights can be applied in parts to public sector settings. This is due to the circumstance that public management responsibilities are similar to private sector management tasks not only formally but also concerning the rising network nature of organizations in both spheres. It gives a more refined solution by referring to particular groups within society, that is, stakeholder groups while the Legitimacy theory discusses the expectations of society in general. Stakeholder theory recognises that as different stakeholder groups will have different opinions about how an organization should carry out its operations, there will be a variety of social contracts à ¢Ã¢â€š ¬Ã‹Å"negotiatedà ¢Ã¢â€š ¬Ã¢â€ž ¢ with different stakeholder groups, instead of one contract with society in general. Stakeholder Theory (Normative/Ethical Perspective): The ethical or normative branch of Stakeholder theory argues that all stakeholders have the right to be treated fairly by an organization, regardless of the resources that they individually control or how economically powerful they are. Therefore organizations should consider the rights of all parties affected by the operation of the entity. The definition of stakeholders in this case would include à ¢Ã¢â€š ¬Ã…“any group or individual who can affect or is affected by the achievement of the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s objectivesà ¢Ã¢â€š ¬? (Freeman 1984). Stakeholder Theory (Positive/Managerial Perspective): The managerial or positive branch of stakeholder theory predicts that management is more likely to focus on meeting the expectations of powerful stakeholders. These are those that have the greatest potential to influence the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s ability to generate profits, that is have the most economic power and influence over the firm. Under this perspective, management would be expected to undertake those economic, social and environmental activities expected by the powerful stakeholders, and also provide an account of these activities to these stakeholders. (Deegan 2006 p.298) Defining Stakeholders A stakeholder in an organization is by definition any identifiable group or individual who can affect or is affected by the achievement of the organizations objective (Freeman, 1984: 25). As a broad definition this includes many individuals or organizations for instance, governments, shareholders, creditors, employees and their families, local charities, local communities, media and so forth. It also allows the inclusion of groups such as terrorists and competitors (Phillips, 1997). For clarity this dilemma can partly be resolved by narrowing the definition in a meaningful way, that is, to divide the stakeholders into primary and secondary stakeholders. By following Clarksons argument (Clarkson, 1994), Mitchell et al. claimed that the use of risk as a second defining property for the stake in an organization helps to narrow down the stakeholder field to those with legitimate claims, despite the legitimacy of their relationship to the firm or their power to influence the firm. (Mitchell et al., 1997, 857). Therefore, a primary stakeholder was identified as à ¢Ã¢â€š ¬Ã‹Å"one whose continuing participation to the corporation is vital as a going concernà ¢Ã¢â€š ¬Ã¢â€ž ¢. While secondary stakeholders were identified to be à ¢Ã¢â€š ¬Ã‹Å"those who affect or influence, or are affected or influenced by the corporation but they are not engaged in transactions with the corporation and are not crucial for its survivalà ¢Ã¢â€š ¬Ã¢â€ž ¢. According to Clarkson, primary stakeholders must primarily be considered by management, as they are essential for the survival of a company. Also, in order for the company to succeed in the long run, it must primarily be administered for the benefit of all stakeholders. This definition may be related to the managerial branch of the stakeholder theory that will be discussed later. However, with the focus on primary stakeholders; it is challenged by the ethical branch of the stakeholder theory that all stakeholders have a right to be considered by management. Critiques of Stakeholder Theory There have been a variety of critiques of stakeholder theory from many viewpoints. Weiss (1995) discards the descriptive and instrumental usage of stakeholder theory and comes to a conclusion that the normative use à ¢Ã¢â€š ¬Ã…“probably might be too limited and has a too weak foundation to be considered as either useful or valid.à ¢Ã¢â€š ¬? Further critiques suggest that business interests are vital in both the identification of stakeholders and prioritizing their demands (Thomas, 1999; Banerjee, 2000). The stakeholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ needs and demands may be limited particularly where stakeholders groups have very different social, cultural and political agenda. A great deal of critique has been towards the level of engagement with stakeholders that is, little consultation instead of genuine dialogue and the exchange of ideas. That is, the stakeholderà ¢Ã¢â€š ¬Ã¢â€ž ¢s needs are not taken seriously. INSTITUTIONAL THEORY Institutional Theory is a relatively new perspective that assumes that managers of an organization will develop or adopt new practices (such as social and environmental reporting) as a result of a variety of institutional pressures. For example, managers may be concerned that if they do not keep up with other entities in developing new practices, they will risk disapproval from some of their economically powerful stakeholders. SOCIAL CONTRACT THEORY According to Godfrey, Hodgson and Holmes (2003), social contract has been described as à ¢Ã¢â€š ¬Ã…“the interaction between individuals or organizations within society through implicit or explicit boundaries of behaviorà ¢Ã¢â€š ¬?, where implicit boundaries are moral obligations and explicit boundaries are regulatory requirements. Therefore, the social contract explains the boundaries of acceptable interaction between participants in a society. The social contract is sometimes used to explain the behaviour of firms where productive organizations are à ¢Ã¢â€š ¬Ã…“subject to moral evaluations which transcend the boundaries of the political systems that contain them. The underlying function of all such organizations from the standpoint of society is to enhance social welfare through satisfying consumer and worker interests, while at the same time remaining within the bounds of justice. When they fail to live up to these expectations they are deserving of moral criticismsà ¢Ã¢â€š ¬? Thus, because of a businessà ¢Ã¢â€š ¬Ã¢â€ž ¢ social contract with stakeholders within a community, it is expected to perform only those actions which are desirable and beneficial to the whole society, rather than having to the investors only. This will give the firm acceptance from the society. Hence, management responds positively to environmental and social issues, because it has it has moral obligations to the society and failure to exercise care while carrying out their activities i.e. doing misdeeds towards the community will result in introduction of regulatory requirements to control management performance on environment and employee, for example. POSITIVE ACCOUNTING THEORY: Positive Accounting Theory predicts that all people are driven by self-interest. As such, particular social and environmental reporting activities, and their related disclosure, would only take place if they had positive wealth implications for the management involved. Therefore motives for social and environmental reporting can be a result of a reporting entityà ¢Ã¢â€š ¬Ã¢â€ž ¢s desire to maximize financial returns for shareholders and (or) managers by using social and environmental reporting as a tool to maintain and enhance the support of economically powerful stakeholders. On the other hand, it may also be a result of an entityà ¢Ã¢â€š ¬Ã¢â€ž ¢s desire to discharge duties of accountability for the social and environmental impact the organization (potentially) has on a wide range of stakeholders. LITERATURE REVIEW Historical Development: Non-financial disclosure existed in a variety of forms in corporate reports in periods long before the 1990à ¢Ã¢â€š ¬Ã¢â€ž ¢s.Studies have found that such voluntary disclosure have existed for a number of decades. For example, Unerman (2000a,b) found evidence of social disclosures in annual reports of the Anglo-Dutch oil company Shell since 1897,with these disclosures becoming more prevalent from the 1950s.Adams te (1998) analysed UK banks and retailers from 1935,Tinker mark (1987,1988) and Neimark (1992) analysed social-type disclosures in the annual reports of the US company General Motors from 1916.Studies by Campbell (2000) and others have examined social and environmental disclosures in companies from the 1960s and 1970s. Thus, the development of social and environmental reporting in the 1990s was a development of non-financial reporting practice rather than a completely new phenomenon. (Deegan 2006 p.331). A review on à ¢Ã¢â€š ¬Ã…“ Social responsibility and impact on societyà ¢Ã¢â€š ¬? by Mohamed Zairi (2000) discusses the emerging commitment to address both environment and societal concerns, an area which is growing in terms of significance and proven to impact on business performances, reputation and corporate image. The observation made was that the world wide organizations have staged conferences to debate the relevance of social and environmental reporting on corporations and stakeholders. Also companies have started to make real headway in this area of reporting by proposing a framework that deals with social and environmental reporting and disclosing issues that concerns social and environmental reporting. According to Trevor Wilmshurst and Geoffrey Frost (2000) , they tried to analyze the link between the importances of, as stated by reporters of specific factors in the decision to disclose environmental information and actual reporting practices. They used Legitimacy theory as an explanatory theory of environmental disclosure. The legitimacy t

The Manifestation Of Sin :: essays research papers

The Scarlet Letter is a book of much symbolism. One of the most complex and misunderstood symbols in the book is Pearl, the daughter of Hester Prynne. Throughout the story Pearl develops into a prominent symbol of the "A". In this essay the example of symbolism Pearl comes to represent will be explained.In the Scarlet Letter, Hester, for her sins, received a scarlet letter, "A" which she had to wear upon her chest for the rest of her life in Boston. This was the Puritan way of punishing her for her then criminal action of adultery. She wondered the streets to be given sour looks from all. This eventually caused so much mental and physical anguish that she eventually questioned why she should live if it weren't for her Pearl. Pearl was a bundle of life sent from god to remind her of her wrong doing each and every moment and as a walking sermon to preach against sin for others.Hester's wasted life the ultimate price that Hester paid for Pearl. With Pearl, Hester's life was almost never filled with joy, but instead a constant reminder of the harsh word adultery. Pearl would also make her own "A" to wear, and sometimes she played games wither her mother's trying to hit it with rocks. When Hester would go into the town with Pearl, the other children would make fun of her and Pearl and would yell and throw dirt at them. So in this case, Pearl symbolized the decimation of Hester's life and mental state. Although Hester had so much trouble with Pearl, she still felt that Pearl was her ultimate treasure. Pearl was really the only thing that Hester had in life. Surely if Pearl wasn't in Hester's life, Hester would have taken her own life. Once and a while, Pearl would bring joy to Hester's life, and that helped her to bare the guilt, lonesomeness, and isolation that became the main theme of her life. Pearl could be compared to weather, sometimes good, sometimes bad, but always changing. It was Pearl's pounding storms that gave Hester so much grief. Pearl's exuberant personality caused Puritans to believe she was a child of witchcraft and a mischievous little elf. But basically she represented everything that was the exact opposite of Puritan belief. Pearl's taunting and malice disposition sometimes even caused Hester to make outbursts like "Thou art not my child! Thou art no Pearl of mine!" Some would believe the "A" stood for anti-puritan for her wild soul could never be confined by the rules of the conservative Puritan Society.

Services Oriented Architecture Is the Future

Services Oriented Architecture is the Future The current buzz word in the Information Technology world is Service-oriented Architecture, also known as SO. Businesses are increasingly becoming interested in implementing SO but are reluctant to adopt what might appear to be a silver bullet due to the complexities involved in this hot new business model. Granted, SO is a new complex approach to building IT systems but it takes advantage of the companies existing assets making it an attractive option that will improve their current software architecture.SO has many benefits for businesses and if the inundation is implemented properly it represents huge cost savings in the software life cycle. Software architects should understand the concepts of SO along with the recommended best practices and standards for implementing a well structured architecture model to determine if SO is the right solution for their business. â€Å"A thoughtful, organized approach to enterprise SO enables compani es to implement, adapt and reuse business processes with unprecedented speed and ease.To enjoy the opportunities that enterprise SO delivers, companies need an open, flexible technology platform to integrate best practices and third-party solutions. In addition, they need business-focused, reusable enterprise services. When companies can design services that are reusable across the enterprise, as well as in different regional organizations and across departmental lines, they achieve an increased efficiency and productivity that in turn results in the ability to rapidly innovate with differentiating services to drive additional business success. (SAP accelerates the path to SO for customers, 2008) Many solutions are available to companies that handle complex network services which use well known standards and technologies hat have been working in the business for a long time so business leaders may discount SO as a new fad without understanding exactly what SO really is. Taking time to learn about this new method of doing business is strongly advised to the architects responsible for companies IT infrastructure so they can make an informed decision regarding how they will do business in the future and if SO would be a good option for them.Service-oriented Architecture is an infrastructure that hosts web services to support software requirements. Legacy applications and services are dad available as a web service that can be accessed using a common application interface. These service oriented concepts can be applied to business, software and other types of legacy systems. SO uses an easy to implement approach to developing IT systems that enables application interoperability and reuse of IT assets. As such, it enables business to offer services with existing applications that are supported by new technology rather than constrained by old legacy technology.SO is the framework that enables a business to change, adapt, partner, and reinvent it itself easily by dec oupling systems making them independent of their peer reverie. Many businesses have an infrastructure that consists of various applications offering services that run on a wide variety of technology which don't all work together. Global enterprises tend to suffer the most from this blend of various platforms such as UNIX, Linux, Windows, or mainframe systems that use different languages like . NET, JOKE, Java, C/C++, or COBOL..IT managers are concerned about the cost and time needed to remodel these services onto a common platform is to much and are hesitant to introduce a new business model that will require restructuring the foundation architecture. Fortunately with SO each application doesn't have to change the current platform they are working on, rather they would create Web Services that are allowed access to the current systems and then publish the web service so other applications can consume the service using a common interface. Web services provide a standard meaner of int erpretation between different software applications, running on a variety of platforms and/or frameworks. A Web service is a software system designed to support interoperable machine-to- machine interaction over a network. It has an interface described in a machine- resalable format (specifically WSDL). Other systems interact with the Web service in a manner prescribed by its description using SOAP messages, typically conveyed by using HTTP with an XML serialization in conjunction with other Web-related standards. (Zane & Abaca, 2006) In a SO implementation, Web Services act like building blocks where each block is a service that is linked to a business task, business object, or workflow. Because all of the building blocks fit together, you can assemble and reassemble them on the fly. Managing data across disparate systems is a constant challenge for all systems but SO tends to highlight the robbers related to duplicated or undefined data that isn't standardized, making data mapping very difficult and time consuming.In order to have a reliable infrastructure model, resources must be dedicated to the task of defining, standardizing, and maintaining the data that is used in all of the services that are offered. SO uses a standard business object model to easily define the data for services called a Business Object Document (SOD). A BODY is a business document that is exchanged between software components and provides a common messaging architecture. It provides the document structure and naming standards that are used o define and map meta-data to the XML documents which ensures both the publisher and subscriber can understand the content.By understanding the concepts behind SO and how web services and data management are used software architects are able to analyze their current systems and make an informed decision on the value SO would have for the business. Many benefits exist to companies that implement a well planned Service-oriented Infrastructure. Intero perability can be found throughout the enterprise, multiple user groups, multiple business processes, multiple application styles, and multiple delivery channels with the use of SO. Flexibility is greatly increased to adapt to business operation changes increasing the time to implement new services.Web Services reuse low-level components as well as high-level business services decreasing the cost of system management. Integrating disparate systems with a solution that is platform independent reduces the need to restructure the current infrastructure while still allowing the systems to work together in harmony. Service-oriented Architecture's good reputation in the information technology industry is growing at a rapid rate making it the software architects best choice when faced with the task of implementing business integration technology and is highly recommended for companies that need to streamline their business workflow.

versailles essays

versailles essays The Treaty of Versailles, which was a peace treaty that called for the end of World War 1(between Germany and the Allies), was defeated in the Senate by an unknown alliance of two forces. The two forces were President Wilsons all or nothing attitude and the strong opponents of the Treaty in the Senate. William Borah (Sen, Idaho), one of the irreconcilables, brings out a clear weakness in the Covenant of the League of Nations in his speech to the Senate. The weakness is that will any country really feel comfortable, or approve of, another countrys government dealing with their domestic affairs and concerns, especially if they have an army to support whatever they decide. He also brings up a point that no one would approve of a tribunal, with 41 other nations in it, to settle a problem that might arise between members of the nation because what one nation sees a vital, another nation may see as wasteful, which might just lead to another World War. The League as he describes it is contradictorial in all that it is to accomplish (force to destroy force, conflict to prevent conflict, militarism to destroy militarism, war to prevent war) and it cant work like that because it has no authority to back up its own judgment. This goes against Wilsons idea of the League because he helped create it and it is a very important and big step to him in creating a worldwide government (Doc A) The Treaty as portrayed in The New Republic is useless, which is a strong reason it shouldnt be passed. It wasnt useless in the sense that it would officially end the war, but in a sense that it would not moralize nationalism. The moralization of nationalism could be achieved by ending the separation of classes and ambitions that could only be enjoyed by some, not all, people in the country. According to the journalist the Treaty d...

break up of USSR essays

break up of USSR essays The Soviet totalitarian regime held the many nations of the USSR together for almost three quarters of a century; the disintegration of this political system brought with it economic and political instability as well as civil wars in the separated states. Why did the collapse of the communist regime in the Soviet Union have such a negative impact? The states struggled to coordinate market mechanisms and private ownerships into their economies. Rebellions and radical reform leaders emerged and years of ethnic tensions and feelings of frustrated nationalism erupted in this new, open society that Gorbachev created. The anti-Soviet revolution in 1991 shattered the authoritarian grasp of the Soviet Union ¡s communist party. As the Russian, Ukrainian and Belorussian leaders declared on Dec. 8th 1991  ¡The Union of Soviet Socialist Republics  ¡K is ceasing its existence ¡ (Mandelbaum 355). Mikhail Gorbachev ascended to power in 1985, bringing with him new ideas for radical changes in a struggling nation. Gorbachev demanded reforms however he did not anticipate the consequences. Society ¡s dissatisfaction, dissolutionment and despair with the way communism operated resulted in change (Resnick 7). Gorbachev ¡s reforms included glasnost (openness), democratization, and perestroika (economic restructuring). Glasnost ended information restrictions and permitted public discussion about the past and present. Citizens who had been too terrified to speak broke their silence. This  ¡openness ¡ had a revolutionary impact on the Soviet Union for its citizens had lived  ¡under a regime that felt no hesitation in executing innocent  ¡K that best hope of surviving lay in  ¡K abandoning any thought of independent public activity  ¡K and withdrawing into one ¡s private world ¡ (Mandelbaum 6). Gorbachev recommended introducing a market economy that included privatization and democratic freedom. His economic perestroika restru...

Impact of Corporate Governance in Curtailing Financial Risks in Dissertation

Impact of Corporate Governance in Curtailing Financial Risks in Organizations in the United Kingdom - Dissertation Example set of rules and regulations affecting the political, social and economic environment of a nation and the research aim at analysing the same in an analytical manner. In order to achieve above mentioned aims, the research focuses on objectives including: To analyse the impact and influence of corporate governance on the social, political and economic environment of the United Kingdom To investigate the reasons of financial risks and role of corporate governance in curtailing it To evaluate the contribution of corporate governance in offering transparency and systematic approach to deal with the social and business environment 1.3 Research Purpose The major purpose of the research is to identify the role of corporate governance in curtailing financial risks in financial institutions in the United Kingdom along with assessing its influence over the business and social environment. This would further help in understanding and analysing the loopholes pertaining to corporate governance. 1. 4 Research Gap The researcher accepts the fact that many researchers have followed single and multi cue approach for this particular subject but very few have used conjoint analysis approach that would be used to assess the importance of corporate governance in curtailing financial risks. It would further help in analysing its role in context to Saudi Arabia in the near future Chapter 2: Literature Review 2.1 Introduction The chapter starts with introducing the concept of Corporate Governance along with highlighting its role in curtailing financial risks in the financial institutions. It also highlights reasons behind a number of financial risks along with the need of introducing effective corporate governance measures. 2.2 Corporate Governance Clarke and Thomas (2004) defined corporate... Center of discussion in this paper is corporate governance as a set of processes and policies affecting the way an organisation is directed, controlled and administered in the political, social and business environment. The accountability of individuals and organizations in the society is assessed through corporate governance in an effective and efficient manner. Until very recently, the financial services sector in the United Kingdom has been managed and regulated in a unique self regulated environment where interested bodies stood up when problems arose and offered solutions. This system has several critics but the combination of efficient financial services organizations and cooperative government controlled and administered the industry in an exemplary manner. However, with a number of scandals, the state took the regulatory control of the area in the year 1997 offering very little scope to the self regulated process. It needs to be understood that corporate governance must have played a unique role in offering freedom to independent and government bodies in regulating and administering the industry. The state took the control because of a series of scandals lacking corporate governance. As per Stevenson’s report published in The Independent, one of the most unfortunate financial scandals include the Lloyd of London; the oldest and most trusted financial institution in the United Kingdom. The bank gambled its fortune along with the fortunes of few hundred investors and went under huge debts.

Business analysis Essay Example | Topics and Well Written Essays - 5000 words

Business analysis - Essay Example Retail is all about selling goods from businesses or individuals to the end user. In this industry retailers are often considered to be a part of the integrated supply chain. Large quantities or products are purchased by retailers from respective manufacturers. These purchasing process are either done through a wholesaler or directly from the producer and are then passed on to the end users in considerable small quantities. There are various mechanisms through which retailing can be done either in the form of fixed stores or markets or by delivery or door to door selling. The retail industry in the present scenario is considered to be the most competitive industry. As the consumer market demand is increasing there are many new players emerging in this segment which is making the competition fierce. It can be stated that customers are at a profitable end in terms of the scenario of retail industry with multiple players operating to deliver best services and goods at competitive prices . In context of global retail industry there are firms performing their operations through online websites, home delivery and even increasing convenience of users by electronic payment. Retailing is usually associated with providing services to a wide base of customers and encompassing wide range of products. This may include clothing to grocery or even any other household items. However the type of products which are included in a retail store are food products such as those which require facilities of a cold storage, durable goods or hard goods such as appliances, automobiles, sporting goods, electronics, furniture, etc., consumables or soft goods such as clothing, footwear, medicines, other fabrics, cosmetics and stationary, and the last type of product is arts. The importance of selecting a particular industry in this study is that it would help to identify the probable challenges which are affecting the industry. On the