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Saturday, May 23, 2020

Assessing the View that Family Diversity is Leading to a...

Assessing the View that Family Diversity is Leading to a Weakening of Traditional Family Values Given the culturally diverse character of the United Kingdom today, there are considerable variations in family and marriage within the country. The structure of families has altered over time and is still changing today. Changing relationships between spouses in the family, and in particular, the changes in the position of women in the family. The family in the UK today reflects a range of factors, including Britain as a multi-ethnic society, differences in social class, and as a society in which women choose or are forced to head families by themselves. A significant section of the population chooses not†¦show more content†¦This had two consequences according to (Harris, The Family). Ownership of land stayed intact and the male who inherited was likely to be well off and that the sons and daughters who did not inherit formed a mobile labour force which went in search for employment. (Parson) and, separately (Goode, World Revolution and Family Patterns) claim that the I ndustrial Revolution weakened the extended family by taking away crucial economic and social functions from the family. However an alternative approach from (Anderson, Approaches to the History of the Western Family) who has argued that early Industrial family actually helped to form extended families. Using data from 1851 Preston Census, Anderson found 23 percent of household members contained family members other than those in nuclear families. ====================================================================== There are a number of factors that have contributed to the increasing diversity of family and household forms; every thing in society has a function to perform. In sociological theory Sociological Action theorists support the belief that human action is based on choice. This approach emphasizes that people can chose/negotiate alternative lifestyles in the light of their understanding of their situation, and within the limits that their circumstancesShow MoreRelatedThe Fifth Discipline7838 Words   |  32 Pagesrecognize the patterns of interaction in teams that undermine learning. The patterns of defensiveness are often deeply engrained in how a team operates. If unrecognized, they undermine learning. If recognized, they can actually accelerate learning. Assessing the organization’s learning disability Most organizations learn poorly. The way they are designed and managed, the way people’s jobs are defined, and most importantly, the way people have been taught to think and interact, create fundamental learningRead MoreControl Theory15246 Words   |  61 Pagestheoretical question: Why are people motivated to commit crimes? For differential association theory, the answer was that youths are enveloped by a deviant culture that they learn in interaction with others. This positive learning—that is, learning to value crime—is what moves them to break the law. For strain theory, the blockage of goals creates a frustration that is the engine that drives individuals into crime. Hirschi, however, asserted that these theories were explaining something that did not requireRead MoreHrm in Japan, Usa and Europe9900 Words   |  40 Pagesresource management has attracted considerable attention over the last two decades from scholars and practitioners alike. While part of t he debate has centered on its application and theoretical underpinnings, the other has been on its prescriptive value for the survival of organizations in a turbulent and a volatile business environment. More recently, the issue of whether to situate the HRM debate in the organizational or the international context has arisen. This is because organizational responsesRead MoreLabour Market Context11897 Words   |  48 Pagesin the previous chapters, the aim is to provide a number of reference points by which we can understand the role of HRM in the contemporary organisation and how it can provide the strategic means to enable firms to cope with uncertainty and add value to business processes. It provides part of the backdrop by which the following chapters on HRM practices and issues can be better understood. What is a labour market? A labour market can be understood as the mechanism through which human labourRead MoreCase Study148348 Words   |  594 Pagesarticles or press cuttings) that might be used to develop a presentation on the course. †¢ †¢ 4.2 Starting the course The specific requirements of each course will vary but here is some guidance on how courses in strategy might be started: †¢ A traditional approach would be to run through the issues in Chapter 1 and relate them to the structure of the course. This is very successful if the course follows the text quite closely and in chapter sequence. With groups of experienced managers, it can beRead MoreDiscuss the Importance of Non Verbal Communication to Education24125 Words   |  97 Pagesstrategy paper on HIV/AIDS for East and Southern Africa IFAD strategy paper on HIV/AIDS for East and Southern Africa A. Assessing the Impact of HIV/AIDS on IFAD-Supported Projects 34. This section looks at the relevance of HIV/AIDS to agricultural and rural development projects, considering the vulnerability of project target groups and IFAD project staff and their families to HIV/AIDS; the reduced project implementation capacity resulting from the epidemic; and the continued relevance of IFAD-fundedRead MoreLibrary Management204752 Words   |  820 Pages . . . . . . . . 95 Planning—The Outcome . . . . . . . . . . . . . . . . . . . . . . . . 96 Environment—The Assessment . . . . . . . . . . . . . . . . . . . 99 Vision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107 Values and Culture . . . . . . . . . . . . . . . . . . . . . . . . . . . 107 Mission . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 Goals, Themes, and Directions . . . . . . . . . . . . . . . . . . 110 Objectives, InitiativesRead MoreA Case Study of International Brand Management: Comparison of Lexus Brand Management in Bra zil, United States and Japan.39374 Words   |  158 Pages ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ · 13 Core and Extended Identity  ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·13 The prism of identity  ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·14 I.1.3. I.1.4. Value Proposition ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·  ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ · 15 Brand Positioning ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ · 15 Part  ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·Ã‚ ·16 Read MoreStrategic Marketing Management337596 Words   |  1351 Pagesare we now? Strategic and marketing analysis 2 Marketing auditing and the analysis of capability 2.1 2.2 2.3 2.4 2.5 2.6 2.7 Learning objectives Introduction Reviewing marketing effectiveness The role of SWOT analysis Competitive advantage and the value chain Conducting effective audits Summary 3 Segmental, productivity and ratio analysis 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9 3.10 3.11 3.12 Learning objectives Introduction The clarification of cost categories Marketing cost analysis: aims and methodsRead MoreDeveloping Management Skills404131 Words   |  1617 PagesBuilding Relationships by Communicating Supportively Gaining Power and Influence 279 Motivating Others 323 Managing Conflict 373 PART III GROUP SKILLS 438 8 Empowering and Delegating 439 9 Building Effective Teams and Teamwork 489 10 Leading Positive Change 533 PART IV SPECIFIC COMMUNICATION SKILLS 590 591 Supplement A Making Oral and Written Presentations Supplement B Conducting Interviews 619 Supplement C Conducting Meetings 651 Appendix I Glossary 673 Appendix II References

Tuesday, May 12, 2020

Drug Addiction - 982 Words

Drug Addiction Drug addiction is a dependence on an illegal drug or medication. Many people confuse it with drug dependency, which is when a person needs a drug to function normally. The difference between drug addiction and drug dependence is drug dependence is when a person needs a drug to function normally, like some blood pressure medications can cause a physical dependence, but the person is not addicted to the drug. A person can have a physical dependence, but not be addicted. Many scientist believe that drug addiction is a brain disease, and this disease causes compulsive drug-seeking and use, despite the consequences that person may suffer. Taking a drug causes surges in your brain of dopamine. Dopamine is a neurotransmitter,†¦show more content†¦Tobacco contains a very addictive and dangerous drug called nicotine. Nicotine in through the lungs into the bloodstream, then into the brain, making the smoker feel relaxed yet alert. Nicotine is the reason 7 out of 10 smokers want to qui t, but can’t, because they are addicted to the nicotine. Scientists believe by 2050, 400-500 million more people will smoke cigarettes. That’s a scary thought, considering that right now 1,200 people die each year from tobacco-related illnesses. For women who are addicted to a drug, it increases risk for anemia, blood, heart and skin infections and hepatitis. It also increases the risk of STDs. It is dangerous for a pregnant woman to use drugs because most drugs cross the placenta, and cause direct toxic/poisons effects and the child can be born with a drug addiction. The use of marijuana during pregnancy is linked to behavioral problems in the child. The use of cocaine during pregnancy can bring on premature delivery, or stillborn. Many people believe that overcoming drug addiction is just a matter of will power, but the truth is drug addictions alters the brain in ways that create powerful cravings and compulsion to use that drug. Drug addiction is a scary thing, and many people believe that once you are addicted, you can never recover because it is a brain disease. Yes, it’s a brain disease, but you can recover. Books: Willwerth, Pamela.Show MoreRelatedDrug Addiction : Drugs And Heroin Addiction1130 Words   |  5 PagesThe arguments for whether or not to prescribe heroin to treat heroin addictions are controversial. Henden and Baeroe (2015) state both sides of the arguments being that some believe â€Å"it is in the nature of heroin addiction for individuals to lose their ability to resist their desire for heroin,† which knowing the nature of chemical dependency, heroin addicts would not refuse any heroin, so it still possibly an invalid consent to research participation as they did not have a free choice to reallyRead MoreDrug Addiction : Drugs And Drugs Essay744 Words   |  3 PagesWhen people first hear the word drug, they think of illicit drugs such as cocaine and methamphetamine. They also think about the user and sometimes why they use. One thing that is overlooked by the public is the treatment programs that are available to drug users. There is a stigma in our society around drug use that is very negative. Many believe that people that do drugs do them just to do them and even if this is true in some cases, no one wakes up one morning and decides that today is the dayRead MoreDrug Addictions802 Words   |  4 Pagesof the states, is facing drug problems. This state is considered one of the deadliest drug epidemics in American history. There are two types of drugs mentioned in the article. One of them is opioid. An opioid is a substitute for morphine and widely used. According to the statistics, 500 people had died from an overdose in 2005. In 2013, the numbers soared from 500 deaths to 2,700. Another drug(s) is known as synthetic opioids. Fentanyl and Carfentanil are the two drugs mention by Phil Plummer,Read MoreDrug Addiction3845 Words   |  16 PagesDrug Addiction (Focus of the Study: â€Å"Shabungan† at Brgy. Victoria Reyes, Dasmarià ±as, Cavite) Group No. Cuenca, Ma. Kristina B. Enon, Jane Loraine S. Tuban, Julie An Pelisco, Marvelous Salcedo, Yvette Laganzo, Ma. Riellyn Mae Austria, Gerald Mateo, Alyssa INTRODUCTION: Drug Addiction is a chronic disease affecting the brain, and just about everyone is different. It was also a condition that characterized by compulsive drug intake, craving and seeking despite what majority of societyRead MoreAddiction : Drugs And Addiction947 Words   |  4 Pages Addiction is a problem that’s very prevalent in our society. Considering that drugs and alcohol are being introduced to kids in middle school, this isn’t that surprising. We as a society constantly bombarded with talks about the â€Å"war on drugs† and addiction. There are constant conversations about what should and shouldn’t be legal and what addiction really means. Is addiction in the head, or is it something a person chooses? Should we help or punish people with addictions. Everyone has opinion,Read MoreDrug Dependence And Addiction : Drugs1231 Words   |  5 Pagesobvious assumption that drugs have an effect on the mind, but what exactly goes on and how do these substanc es affect your brain and change your state of consciousness? This is the question that interested me and brought me to want to write about this certain topic. Drugs alter the way people think, feel, and behave by disrupting neurotransmission, the process of communication between brain cells. Over the past few decades, studies have established that drug dependence and addiction are features of anRead MoreDrug Addiction and Drugs1219 Words   |  5 PagesDrugs Addiction Miami Beach Senior High Ashley Gonzalez Ms. Cooper/Mr.Sussman English II-Period Three 06 March 2013 Drugs Addiction Topic and Thesis Statement Miami Beach Senior High Topic: Drugs Thesis Statement: In an examination of drugs I will discuss causes of this disease/or social dilemma. I will also discuss the effect of drugs on individuals, families and society. Read MoreDrug Dependence And Addiction : Drugs1231 Words   |  5 Pagesobvious assumption that drugs have an effect on the mind, but what exactly goes on and how do these substances affect your brain and change your state of consciousness? This is the question that interested me and brought me to want to write about this certain topic. Drugs alter the way people think, feel, and behave by disrupting neurotransmission, the process of communication between brain cells. Over the past few decades, studies have established that drug dependence and addiction are features of anRead MoreThe Drug Of Drug Addiction Essay1270 Words   |  6 Pagesmy older brother struggle with drug addiction has taught me more in my life than anything else. He was a smart kid with a good head on his shoulders.   As he grew older he made some unwise choices with regard to substance abuse that quickly turned into a full blown addiction lasting over five years and landed him in and out of four different rehabs.   He was striving to get clean, but every time he took one step forward he fell three steps back.   Taylor entered Drug Court, after finding himself inRead MoreDrug Addiction : Drugs And Drugs1017 Words   |  5 Pages In today’s society, it is now normal to know somebody who has a drug addiction especially to opiates. A dr ug addiction is a mental disorder that the person can no longer control their actions. The person addicted to the drug will no longer care about the outcome of their actions as long as they can get that high they are seeking. **from textbook pg. 303** â€Å"Opioids are classified as narcotics- strongly addictive drugs that have pain relieving and sleep-inducing properties. Opioids include both naturally

Wednesday, May 6, 2020

Financial Crisis Free Essays

string(61) " pleasured to borrow currency to these sub- prime borrowers\." The latest global financial crisis was exploded in 2008. This was the most serious financial crisis since the economic depression which occurred in sass and it severely impacted the global financial market. Lots of corporations collapsed during the 2008 financial recession which was caused by breakage of capital chain. We will write a custom essay sample on Financial Crisis or any similar topic only for you Order Now Although some companies did not bankrupt during that period, they also had suffered huge loss. The 2008 global financial crisis began from America. American financial crisis came from the prosperity of real estate. Before the 2008 global financial crisis, a large umber of financial derivatives were generated and financial bubble became more and more serious. Finally, American sub-prime crisis occurred which leaded to a large number of bank failure. This paper will analyze the reason of American sub- prime crisis and indicate the relevance between Shoal’s article, agency theory and the 2008 global financial crisis. This essay will argue that agency theory contributes to the 2008 global financial recession. 2 Review of the literature 2. Agency theory Agency theory has described a relationship between principals and agents. It also an solve this relationship through a contract that ‘one or more persons (the principal(s)) engage another person (the agent) to perform some service on their behalf which involves delegating some decision making authority to the agent’ denser and Neckline, 1976:308, citied in Lehman and Continue, 2013). 2. 2 Bad theory and humans morality and ethic A fter the collapse of Enron, Shoal (2005) strongly argues that business school does not need to do lots of things. In contrast, they Just need to terminate some old courses which they are teaching for their students. The reason is that the root of the issues in management practices can be found in the theories of management. Additionally, management practices which are condemned are enhanced by these ‘theories and ideas’ (Shoal, 2005: 75). Moreover, business school cannot address the issues of moral and ethic. Clansman, Setback and Heckler (1998: 77, citied in Shoal, 2005) claim that management studies is regarded as ‘a branch of’ the social sciences. Namely, the issues of business studies can be analyzed and resolved in method of social sciences. However, Ghosted (2005: 77) strongly argues that people use ‘scientific’ way o explore regulation so that they have ignored the moral and ethics of humans. Because there are some underlying basic diversities between physical sciences and business studies, some theories of physical sciences are not suitable for business studies. Furthermore, the parts of business studies which are related to physical (2005), even though ‘scientific methods’ (p. 7) exerts some positive influences, the cost is expensive. Therefore, this approach denies the subjective initiative of human. In addition, humans morality and ethic which are neglected by individuals are inevitable in human intentionality. Jensen and Michelin (1976, cited in Shoal, 2005: 75) assert that an idea which ‘mangers cannot be trusted’ was taught to their students in business school. As a result, whe n these students graduate, they hardly trust their leaders and do not realize that they should strictly maintain personal integrity. Additionally, Even though Friedman (1953, citied in Shoal, 2005) acknowledges that the duty of agents is to maximize the profit of shareholders, Shoal discounts this view and argues that compared with finding a new Job by employees, it is easier that shareholder can sell their corporation (Shoal, 2005). Furthermore, shareholder value minimization is the fundamental of the agency theory. However, Shoal (2005: 81) strongly asserts that they are not relevant and points out that these research and analyses are built on incorrect assumption, which meaner they are ‘unrealistic’. Moreover, ‘Chicago Agenda’ extreme emphasis laws and rules and against human intentionality and indicates that ethic and morals which are only relevant with persons can be removed from social science (Shoal, 2005). Nevertheless, Shoal disagrees this view and approves of the stewardship theory, because it can effectively give consideration to he profit of ‘customers, employees, shareholders’ and their ‘communities’ (Davis, Chairman and Donaldson, 1997, citied in Shoal, 2005: 81). 2. 3 Background of financial crisis The 2008 global financial recession has been described a ‘once in a century credit tsunami’ (Earl, 2009: 785). This is a disastrous blow to global financial community. Ballard (et al, 2009, citied in Huh et at, 2012) points out that many economists regarded the global financial crisis as the most serious global finance disaster since sass. Compared with only 11 banks was bankruptcy during 2003 to 2007, at least 160 American banks went broke in 2008 and 2009 (Fide, 2011, citied in Huh et al, 2012). From this statistics, it is not difficult to know how strong influence brought by this financial crisis. There is a close link between the 2008 global financial crisis and sub-prime crisis. Bernard (2007, citied in Hellenize and Chaos, 2012) asserts that ‘sub-prime mortgages are loans made to borrowers who are perceived to have a high credit risk, often because they lack a strong credit history or have other characteristics that are associated with high probabilities of default’. Furthermore, during 1990 to 2000, cause of the IT bubble economy, the American government took some steps to prevent economic downturn, such as reducing interest rate, cutting tax, decreasing the cost of sub-prime etc. Even though there were higher risks that some of sub- prime borrowers cannot repay currency punctually, the sub-prime mortgage had become an extremely phenomenon in that period, because this kind of debits can get more return due to the higher interest rate. In addition, secondary market had Thus mortgagor can easier receive mortgage credit, no matter he or she is the sub- prime borrowers or prime borrowers. As a result, sub-prime mortgage market had developed rapidly. Furthermore, a large portion of American preferred to buy a house in installment plan before the 2008 global financial crisis and some of them were sub-prime borrowers. Basic and Chine (1996, citied in Change and Chine, 2013: 14) claim that people need ‘more than enough’ fortune to certify their social status. This is why lots of American purchased a house in installment plan. Because of the higher interest rate, local banks were pleasured to borrow currency to these sub- prime borrowers. You read "Financial Crisis" in category "Papers" Goodhearted (2007) claims that in order to assess the default risk, here is no experience that the price of house has declined in the whole of America. However, the price of house started to fall from the end of 2006 in lots of areas of America (Goodhearted, 2007). Because the value of mortgage is less than the debts and the growing interest rate, increasingly sub-prime borrowers gave up repaying currency to banks. Consequently, even though lenders had sold these mortgages, it cannot cover the loss. In other words, the income gained by selling houses was not enough to offset the values of the credit and interest. As a result, these banks were suffering serious loss and some of them had to close down. 4 The link between Shoal’ article, agency theory and financial crisis In recent years, agency theory is widely used in lots of corporation and regarded it as the fundamental theory of corporate governance. Agency theory has played an important role in traditional control systems. Moreover, in this theory, shareholders use the method of supervision and reward to control mangers and employees. It is the foundation of agency theory to maximize the value of shareholders. Principals need to supervise agents whether they focus on shareholder’ interest when they are operating a corporation. However, Shoal (2005) strongly points out hat this theory does not improve the company’s performance, because it is analyzed by physical science and then neglect the moral and ethic of human. Because the different perspectives between shareholders and agents, they can make the diverse decisions. Thus some primary issues should be focused on in agency theory. Firstly, because of the diverse goals between principals and agents, how to ‘align’ them has become thorny (Lehman and Continue, 2013: 1). Secondly, how to guarantee agents carry out according to principals’ ideas. Lehman and Continue, 2013). Shareholders are interested in long-term strategies which can sustainable evolve their corporations. In other words, in long-term strategies, shareholders’ value, such as stock price and dividends, can be maximized (Klein, 2009). In contrast, agents focus on short-term strategies so that they reject long-term strategies. In this way, they not only can effect ively avoid unpredictable emergency which usually occur in long-term strategies, but also can get profit in a short time. It is why leaders Just pay attention to currently profit and overlook long-term development. For example, they may use ‘inferior raw material’ to manufacture (Lehman and Continue, 2013: 1). As a result, current margin can increase; however, they have overlooked some more corporation. Obviously, the loss of long-term cannot be estimated. This is similar as the sub-prime mortgage. Lenders prefer to lend currency to sub-prime borrowers, because of the higher interest rate. They can collect more properties in a short time. In addition, if the housing price is higher than the price of mortgages, borrowers will try their best to repay the debt, because they do not want to lose their house. To assume, if a mortgagor cannot timely repay, house, as a mortgage, will belong to the bank. Namely, when the bank sale this house, it can get extra property immediately. In this case, lending currency to borrowers, even though they are sub-prime borrowers, it is hardly to get damage to lenders. However, loaners have only noticed the short-term profit, therefore, they loaned mortgage to sub-prime borrowers instead of prime borrowers; however, they had neglected sustainable development, especially when the price of house dramatically declined. In fact, when the housing price decreased, some borrowers preferred to give up the mortgage to lenders, especially the value of house is lower than the loans (Klein, 2009). In other words, banks only can receive these mortgages instead of the loans. As a result, huge loss derived these banks collapse. Furthermore, mortgage lender also can resell theses mortgage to investment bank. However, some of them had hided some information in order to a higher price (Klein, 2009). In this way, some drawback of mortgage cannot be known by a new buyer. What is worse, these shortcomings may be modified to become some advantages to attract others. This fraud and sharp practice had continuing occurred. Namely, there are increasingly investing companies were involved in this event. Nevertheless, because the housing price decreased, these mortgages had devalued, which caused a serious debt crisis. Shoal (2005) points out that business school should open some ethic courses to teach their students more accountable. Obviously, he has predicted this perspective. Initially, if lenders do not only pay attention to short-time strategies, they did not only pursue the minimization of value in a short time and preferred to lend currency to prime borrowers rather than sub-prime borrowers. Even though the price of house decreased, borrowers are bound to consider their reedit, because they do not want to be classified in sub-prime borrowers. Additionally, they had stable Jobs to ensure the possible of repayment. Namely, banks may not consistently suffer such a huge blow. Furthermore, in order to earn greater profit, some agents had lent more than 20 times cash than the value the company’s security assets. Was (2010) convincingly points out that ‘highly leveraged balance’ existed in some financial institutions. For example, investment banks’ liabilities-to-assets ratio was 0. 96 at the end of 2006 (Was, 2010). In other words, the majority of assert was borrowed. Even though these agents used insurance to transfer risk, blind pursuit of interests had brought some huge hazard. Sometimes, if an agent is indeed regarded as a selfish man, it will damage the benefit of his or her corporation. Even though it may be reasonable that agent should some underlying differences between physical science and business studies. In other words, some theories which are correct in physical science cannot be reasonably used in business studies. Eisenhower (1989, citied in Lehman and Continue, 2013: 1) points out that it is a significant issue that if an agent makes a decision, it will be fisticuff for principals to check whether this decision is beneficial for the company, such as ‘creative accounting’ which is seriously harmful the profit of corporation. Furthermore, managers may not want to spend capital on ‘long-term research and development’, because it can reduce the short-term interest (Lehman and Continue, 2013: 2). Therefore, even though it seems exact that mangers should maximize the value of shareholders, Shoal discounts this view. He (2005:81) convincingly argues that this is the ‘unrealistic assumptions’ and humans moral and ethic have been overlooked in this theory. In fact, shareholders and agents have the diverse goals, which meaner that shareholders are interested in long-term strategy; oppositely, agents prefer to focus on the short-term strategy. Because of the unrealistic assumptions, agency problems which contribute to the 2008 global financial crisis are ignored. 3 Implication in article 3. 1 Stewardship can remit financial crisis In Shoal’s article, he argues that stewardship theory which can be alliterative to replace the agency theory can remit the problem between principals and agents (Shoal, 2005). Stewardship theory does not advocate personal interest, but the elective profit. In this theory, collective profit is higher than the personal benefit. Hernandez (2008) points out that agents’ and shareholders’ benefit can be aligned in stewardship theory. ‘Responsibility’ and ‘psychological ownership’ are combined with the profit of shareholders (Block, 1996; Davis, Chairman, and Donaldson 1997; citied in Spheres et al, 2012:2). In other words, they have become a collective and the interests of collective have closely linked with personal profits. According to Hernandez (2008), employees can feel more responsible and fulfill their obligations in stewardship theory. Because the interest has become consistent, the conflicting goals may not exist. Compared with agency theory which monitoring is necessary between shareholders and agents, shareholders and staff can cooperate in a harmonious environment. Furthermore, stewardship is also beneficial for realizing the interactions between sales personnel and consumers (De Router, De Gong and Wetness 2009; Hernandez, 2008, citied in Spheres et al, 2012). Therefore, it is good for a corporation to pay attention to customers, staff and shareholders simultaneously. Take sub-prime crisis makes an assumption, if the majority of corporation accepted he stewardship theory instead of the agency theory before the 2008 global financial crisis, the credit tsunami might not occur or it was not as heavy as this. Interest among agents’, shareholders’ and customers’ are tightly relevant. In other words, agents and shareholders may not only focus on the short-term profit and ignore long- place. Therefore, they may prefer to lend currency for prime borrowers while limit the amount of loans which is loaned to sub-prime borrowers. In addition, when lenders resell their mortgage, they may not deliberately hide weak information and ay not modify shortcomings in order to resell a higher price. Even though the agency theory has been extensively used in the world, Shoal has realized the drawback of it and try to replace it. The agency theory has contributed to the 2008 global financial crisis to a large degree. Namely, Shoal has forecasted the issue which has widely existed in the majority of companies. Furthermore, the stewardship theory advocated by Shoal can effectively remit the problems between shareholders and agents. It also can decrease the harm brought by financial crisis to some extent. 4 practice relevance 4. The power of government While it can effectively decrease the probability of financial crisis that using the stewardship theory replaces the agency theory, it is not enough. Therefore, the power of government cannot be overlooked. Because it can cause economic bubble that a government continually slash interest rates or dramatically reduce interest rates. However, American government had constantly reduced the interest rate thirteen times from 2001 to 2003. As a result, it caused the boom of American real estate. In addition, the application condition of sub-prime mortgage had decreased. A large umber of people preferred to purchase a house in installment plan, which caused the 2008 global financial crisis. Therefore, except for the stewardship theory, government also should pay attention to the frequency and the range of decreasing rate. Excessively fast decline the interest rate or oversize decrease them may cause economic bubble, which can harm for the domestic financial market. What is worse, it can lead to global economic crisis. Thus improper regulations may indirect lead to financial crisis. In addition, it is important that government should limit the rate of the sub-prime mortgage in any investment bank. Klein (2009) points out that regulation which can defend financial marker should be built by government. In other words, reasonable legislative can effectively prevent financial crisis. Consequently, the effect of government cannot be ignored. It also can effectually protect financial market and prevent huge loss. While the dominant economic system is free marker, governmental macro-control, which is beneficial to the current economic system, is inevitable. 5 Conclusion Agency theory has described the relationship between principals and agents. Even Hough the foundation of the agency theory is to maximize the value of shareholder, Shoal (2005: 81) convincingly points out that it is incorrectly built on an ‘unrealistic crisis. Because sub-prime borrowers have the lower credit and lower repayment ability, when the value of mortgage was less than the loan, they preferred to give up repaying the debt. As a result, sub-prime lenders had to sustain the huge loss. However, agents only focused on the short-term profit. They preferred to loan currency to sub-prime borrowers. Therefore, borrowing currency to sub-prime borrowers had become a common phenomenon in that period. Even though Shoal’s article was published before the international financial crisis, he was still aware of the problems of agency theory in economic system. While agency theory is accepted by the majority of corporations, it still has some serious problems. How to cite Financial Crisis, Papers

Saturday, May 2, 2020

Drug Dependence Essay Research Paper Drug Dependence free essay sample

Drug Dependence Essay, Research Paper Drug Dependence In order for a chemical to be considered a drug it must hold the capacity to impact how the organic structure works # 8211 ; to be biologically active. No substance that has the power to make this is wholly safe, and drugs are approved merely after they demonstrate that they are comparatively safe when used as directed, and when the benefits outweigh their hazards. Thus, some really unsafe drugs are approved because they are necessary to handle serious unwellness. Digitalis, which causes the bosom musculus to contract, is a unsafe drug, but physicians are permitted to utilize it because it is critical for handling patients whose bosom musculus is weak. A drug every bit potent as digitalin would non be approved to handle such minor complaints as impermanent weariness because the hazards outweigh the benefits. Many individuals suffer sick effects from drugs even though they take the drug precisely as directed by the physician or the label. We will write a custom essay sample on Drug Dependence Essay Research Paper Drug Dependence or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The human population, unlike a settlement of emmets or bees, contains a great assortment of familial fluctuation. Drugs are tested on at most a few thousand people. When that same drug is taken by 1000000s, some people may non react in a predictable manner to the drug. A individual who has a alleged idiosyncratic response to a peculiar sed ative, for illustration, may go excited instead than loosen up. Others may be allergic, or highly sensitive, to certain drugs, enduring reactions that resemble allergic reactions. A patient may besides get a tolerance for a certain drug. This means that ever-larger doses are necessary to bring forth the coveted curative consequence. Tolerance may take to addiction, in which the individual becomes so dependent upon the drug that he or she becomes addicted to it. Addiction causes terrible psychological and physical perturbations when the drug is taken off. Morphine, cocaine, and Benzedrine are common addictive drugs. Finally, drugs frequently have unwanted side effects. These normally cause merely minor uncomfortableness such as a tegument roseola, concern, or sleepiness. Certain drugs, nevertheless, can bring forth serious, even dangerous inauspicious reactions. For illustration, the drug Thalidomide was one time called one of the safest depressants of all time developed, but 1000s of adult females in the United Kingdom who took it during gestation gave birth to earnestly distorted babes. Other inauspicious reactions stem from blending drugs. Therefore, taking acetylsalicylic acid, which has blood-thinning qualities, for a concern can be really harmful if one is besides taking other blood-thinning drugs such as Lipo-Hepin or dicoumarol.