Saturday, January 18, 2020
Analysis of Priceline
Priceline Inc. is an online travel booking site that helps customers worldwide purchase airfare, hotels, rental cars, and much more. The three categories I chose to analyze are business model and strategies, business finances, and expansion of the company through acquisitions. For Priceline to have success, I believe the business model and how the company builds its model is extremely important. Next, it is crucial that we look at the finances of the company to ensure it is profitable. The finances of the company are tied to the various acquisitions Priceline has acquired in the past few years. By looking at the companies Priceline has acquired, I strongly recommend investing in Priceline based off of the record earnings posted by the company. Not only is Priceline profitable, the corporation also has an unique business strategy to make money. When assigned this paper, I began to use databases and Factiva to search for information about Priceline. I used the information found from da tabases and used them as research to support my report. I then researched Priceline’s marketing techniques as well as stock prices in order to elaborate on the company’s finances. Finally, I learned about the companies Priceline has acquired over the years to expand its market presence. To figure out the formatting and structure of this paper, I used other people’s reports as guidance.IntroductionPriceline’s business model includes value proposition of connecting vendors and customers. It consists of a revenue model where there are transaction fees and spread earned by the company between vendor and customer price. Launched in 1998, Priceline Inc. does not directly supply travel services, but rather they bring buyers and sellers together to complete a transaction. Priceline saves consumers money by trading travel flexibility of brands and product features for sellers’ lower prices. Business Model and StrategiesEver since the development of the inte rnet, dot-com companies have been booming left and right. One of those companies founded during the dot-com boom was Priceline Inc., an online travel booking site that revolutionized the way consumers purchased air tickets, hotel rooms, rental cars, and much more. Priceline Inc. developed and innovated a new system of â€Å"Name your own price†for customers to finalize their travels. They were able to turn excess inventory otherwise not sold by the airlines to consumers while at the same time price discriminate in order to maximize profits. In the airline industry, it is estimated that only 65% of the seats on a plane are occupied on a daily basis.Airlines definitely were looking a way to vend the rest of the inventory. However, they could not advertise these excess seats with special discount because in doing so, it would destroy its retail fare structure. Priceline was the solution to this as they are able to help shield airlines branding in two different ways. First, w hen consumers try to name your own price on Priceline, they must choose travels between two cities. In this case, the airlines’ branding and product configurations are protected as customers have no idea which airline they will be selecting. Only after a bid is accepted will they learn their exact flight information and itinerary. Secondly, Priceline protects those who are considered free riders. These are people who would receive the benefit of a discount but they are already willing to pay for an air ticket at a higher price (Eisenmann 47-48). Name Your Price GuaranteeFigure 1.1Source: (Priceline.com) Revenue Generation: Priceline is able to effectively generate revenue one of two ways. First, it calculates a spread between the lowest prices offered by the Airline partner and the highest prices a customer is willing to pay. In this scenario, neither party the airline partner nor the customer have the option of knowing the asking price or the bid price. A customer has no ide a what unpublished rate the airline is offering. Only Priceline would have this secret information. On the other hand, the airline does not get to see how much the consumers bid on the air ticket. For example, if a customer bids $300 on a ticket from LAX to JFK and the lowest unpublished rate for any given airline is $200, then the spread would be $100, which Priceline retains as its earnings. As seen from this model, profiting from the spread is highly successful given the economies of scale from customers (Eisenmann 47-48). Adaptive Marketing and Cross Subsidy:Furthermore, Priceline also offers consumers to bump up their bids by participating in â€Å"adaptive marketing†and â€Å"cross-subsidy†promotional programs. For instance, Priceline could add $50 to an existing $100 bid to make it more likely that a ticket will be sold if one signs up for a credit card. If that is the case, the credit card company may pay Priceline $75 for every referral that signs up for the card. In this case, Priceline would simply pocket the difference. If the asking price for the ticket was already under $100, then Priceline would keep all of the money coming from credit card sponsorship (Eisenmann 48).Business Finances Early Stages of Priceline: At the beginning of year 2000, Priceline had a market share of 3% of all airline tickets sold in the U.S. Attracting over 3.8 million unique visitors, Priceline sold tickets for all eight domestic airlines as well as 20 international carriers. One year after its establishment in 1998, Priceline’s revenue was $482 Million in 1999 and $1 Billion in 2000 (Eisenmann 48).However, the dot-com bubble would halt Priceline’s success only temporarily. 1999 was a tough year for Priceline as it stated a $1.1 Billion loss on its financial statement. Stock prices plunged from $974 to $7 a share. According to Walker, â€Å"there was a credibility issue†within the organization and investors did not completely trust t he dot-com industry. Priceline’s financials would improve slowly. In 2002, Priceline reported a net loss of $19 Million. When CEO Jeff Boyd took over the company in 2002, Priceline stocks had suffered one of the worst drops in its brief history. But soon enough, Priceline was able to make a turnaround when it introduced William Shatner as the negotiator character out of the blue to help consumers save money. Instantaneously, people remembered the advertisements put up by Priceline and associated with Shatner, a former Star-Trek star’s self-parody. William ShatnerFigure 1.2Source: (Thepenaltyflagblog.com) From Loss to Profit: Priceline started making a profit in 2003, but it wasn’t until 2004 and 2005 when Boyd bought two European hotel reservation sitesâ€â€the U.K.'s Active Hotels and Amsterdam-based Booking.com that Priceline hit a turning point. â€Å"Priceline's earnings growth and stock market success since then have been attributable largely to those t wo acquisitionsâ€â€Booking.com in particular. It would be tough to argue that there's been a better acquisition in Internet history,†says Thomas White, an analyst at Macquarie Securities. â€Å"It's why the stock has been such a home run,†says White.Thomas White and Barclays' DiClemente would agree that investors lack the knowledge that most of the revenue come from overseas. Since Europeans have many more vacation days as Americans, it is not surprising that more revenue is inflowing from Europe. Jeff Boyd, the CEO of Priceline, was smart about targeting such a market in Europe. â€Å"Moreover, the growth of discount airlines in Europe such as EasyJet and Ryanair have increased the popularity of â€Å"city breaks†â€â€the European equivalent of a weekend getaway,†states Birger. Earnings Report in 2012:In 2012, Priceline continued to post better than expected earnings reports. In the third quarter of 2012, Priceline reported third quarter revenue s of $1.71 Billion, up 17.4% from a year ago in 2011. Also, Priceline beat the estimate of $1.65 Billion projected revenue determined previously by analysts. Non-GAAP profits stood at $12.40 a share, ahead of the estimate of $11.81 a share. Gross bookings came in at $7.8 billion, elevated 25.2% from a year ago. For quarter four in 2012, Eric Savitz of Forbes magazine states â€Å"Priceline projected revenues to be up 21-28% or 22%-29% in local currency; revenues are expected to improve 15%-22%, with non-GAAP profits of $6.12 to $6.57 a share. Consensus has been for $6.34 a share.†Continuous Growth: In the mean time, CEO Jeff Boyd continues to have high hopes for Priceline. â€Å"Globally our hotel business grew room nights by 36% over the same period last year, compared to 39% growth in the second quarter,†he said. â€Å"Our rental car business grew rental car days by 35% over last year, an acceleration from 29% in the second quarter, led by improving results at Pric eline.com and continued strong growth from Rentalcars.com. While we remain concerned about economic weakness across Europe, Asia and the U.S., the [company] intends to focus on solidifying its position as the world's largest and most profitable online hotel reservation service by continuing to add hotels and other accommodations and better servicing our customers through constant innovation in our mobile and desktop sites.†As promised by Boyd, Priceline continued to show tremendous growth. On November 1st, 2012, Priceline stock was up $12.22 in regular session trading and jumped another $52 a share in after-hours trading to close at $638.95 (Savitz). Since then, Priceline sustains its momentum by reporting record earnings in the preceding quarters. Today, stock price for Priceline is even higher than few years ago. It currently trades at over $1,000 a share and constantly out competes against their rivals Expedia and Orbitz (Birger).10 Year Graph of Priceline (PCLN) Figure 1.3 Source: (Yahoo Finance) Acquisitions and Expansions Booking.com: Priceline is on track to make a very good move because it is believed that the online travel reservation market still has room for expansion in Europe. Priceline typically takes 15% of every transaction done on Booking.com; in return, the hotels have a much better chance to market and advertise to potential customers. After Priceline’s acquisition of Booking.com in July 2005 for $135 Million, its profits skyrocketed from $10 million in 2003 to $1.1 billion in 2011. No other acquisition has proven to be that successful in the 2000’s (O'Neill). Agoda and TraveljigSaw:In addition, Priceline is increasing its brand in Asia via its Agoda brand and it is growing its rental cars division as well, aided by a 2010 acquisition of global car-rental site TravelJigsaw. Ever since these acquisitions of smaller travel companies, Priceline is able to expand its market cap while its stock prices surged over 500% in the fo llowing five years (Birger). Kayak:In 2012, Priceline Inc. continues its acquisition practice with the purchase of Kayak for $1.8 Billion. Shareholders of Kayak received $40 per share. Kayak is successful in that it raised $91 Million in the July 2012 IPO through selling of 3.5 Million shares at $26 apiece. It has processed 302 million queries across its web. Kayak and Priceline are â€Å"two of the largest online-travel companies and it makes sense that these two companies would want to work together, of course, because they do have different strengths and different objectives,†said Dan Marcec, an analyst at Emarketer. With the acquisition of Kayak, Jeff Boyd states that â€Å"Priceline’s intention is for Kayak to be operated independently under the leadership of existing management, as with our other hands, with a primary focus on building value for its customers and advertising partners†(Levy).Conclusion Priceline Inc. operates as one of the biggest travel booking sites in the world. Its global presence in Europe and Asia as well in the Americas cannot be ignored. Priceline Inc. should be a company that is to be heavily invested in because of its revenue and profit posted by the corporation. Its record breaking earnings in the billions should easily attract the eyes of a savvy investor. Priceline will continue to post earnings through the way it does business by matching consumers with vendors and earning the difference in prices. With its continuous acquisitions of smaller booking sites, Priceline is set on par to be the dominant and primary go to website when it comes to travel bookings. Without a doubt, its stock prices will continue to soar as it expands its presence in Asia.
Friday, January 10, 2020
Childhood and Adolescent Depression and the Risks of Suicide Essay
Introduction Problem and its Background            One of the most common reasons for referral of children and adolescents to mental health professionals is suspected depression. There are continues debate as to whether childhood and adolescent depression are a reflection of normal variation in mood. It is reasonable for the primary care physician to view childhood depression as a constellation of factors that forms a syndrome. This constellation consists of a persistent mood disorder and dysfunctional behavior that intrudes and distorts the child’s day-to-day activities (Gottlieb & Williams, 1991 p.1). A firm denial gave way into a general and strong conviction about significance of depressive syndromes in childhood and adolescents, and of the implications throughout the life course. The realization of the problem occurrence made it possible for the therapeutic interventions and prevention programs to be developed and set up for depressive children, and to have these programs sponsored and evaluated on a scientific perspective. Various factors have facilitated the progression of this study concerning the recognition of childhood depression. Society is approached with enormous cost of untreated childhood depression later on in life (Corveleyn etal, 2005 p.165).            The concept of a depressive syndrome that is distinct from the broad class of childhood onset emotional disorders has been linked to incidence of suicidal rates worldwide. The condition of such incidence is becoming evidently alarming as the number of suicidal rate continue.            The treatment of such depressive states range from pharmacologic drugs up to psychological modifications and therapies, such as behavioral, peer and group focused groups, etc. With the serious nature of childhood / adolescent depression, it is crucial that treatments with known efficacy and more than transitory effects be provided promptly and skillfully (Maj & Sartorius, 2002 p.292). Scope and Limitations            The treatment procedures and the condition of health care management for the case of childhood and adolescent depression are the primary subjects of the study. The concept on treatment procedure involves the pharmacologic, medical and psychological interventions that are absolutely necessary in the health care management of such condition. The study shall cover the discussion of depressive condition of the childhood and adolescent age group. Diagnostic procedures and issues shall be tackled in this research in order to portray possible conflicts and difficulties that occur in diagnosing the condition. The neurobiology of the depressive state shall be elaborated utilizing psychophysiology of the disorder, and linked to probable external physiological occurrences. Lastly, since the study focuses on therapy and medication as treatment modalities, the following methods and means of treatment shall be involved in the study. The following shall be the objectives of the over-all study. To be able to define, discuss and elaborate the conditions involved in the occurrence of depression in adolescent and childhood stages To be able to provide and tackle the treatment procedure as the center scope of study, accompanied by the issues, physiology and specific drugs involved in depression health care management. Discussion            Cases of despondency and depression in children and adolescents were reported as early as the seventeenth century. Prior to the 1970s, however, little attention was paid to depression in youth (Hersen & Hasselt, 2001 p.243). The study on depression had been more inclined to adulthood depression and not on childhood and adolescence.            Depression among children and adolescents is relatively common, enduring, and recurrent disorder that has an adverse impact on a youngster’s psychosocial development and in some cases is associated with self-destructive and life-threatening behaviors. Depressive disorders during childhood and adolescence may be more virulent and of longer duration than depressive disorders in adults. Depressive disorders during childhood are a risk factor for the development of additional psychological disturbances and for the development of depressive disorders later in life. The number of youths who are experiencing depressive disorders is increasing at the same time that the age of onset is decreasing (Mash & Barkley, 2006 p.336).            Depression can be conceptualized both as a dimension and as a category. Epidemiological studies suggest that juvenile depression is a continuum that is associated with problems at most levels of severity. According to Oregon Adolescent Depression Project, the level of psychosocial impairment increased as a direct function of the number of depressive symptoms. Moreover, in line with studies of adults, much of the morbidity associated with depression occurred in the â€Å"milder†but more numerous cases of minor depression. Such results suggest that even mild forms of adolescent depression are a risk factor for depression in early adulthood (Rutter & Taylor, 2002 p.463).            In recent years, increased attention has been given to evidence-based psychosocial and pharmacological interventions for depressed youth. The need to highlight what we know about treatment is underscored by the fact that most depressed youth do not receive treatment. However, as knowledge about treatments for youth depression has increased, the rate of treatment appears to have developed. Although depression among youth is treated more often, it is not clear that standard practice is effective at alleviating depressive symptoms or preventing recurrence. Moreover, there is a bias toward the utilization of pharmacologic drugs and extremely brief psychosocial interventions (Gotlib & Hammen, 2002 p.441). Diagnostic Issues involved in Depression            The Diagnostic and Statistical Manual of Mental Disorders, fourth edition, text revision groups mood disorders into two categories: depressive disorders and bipolar disorders. Both types of disorders are characterized by depressive episodes. For a diagnosis of depressive disorder, the child must be experiencing a mood disturbance for a period of at least 2 weeks, and the symptoms must be present more often than not. At least four of the following symptoms must be present during the same period (Mash & Barkley, 2006 p.337): Significant, unintentional weight gain or loss Insomnia or hypersomnia Psychomotor retardation or agitation fatigue or loss or energy feelings of worthlessness or extreme guilt Diminished concentration pr ability to make decisions Recurring thoughts of death, suicidality, or suicide attempts In depressed preadolescents and adolescents, a lack of perceived personal competence was associated with depression; however, in adolescents, the more abstract concept of contingencies is also related to depression (Mash & Barkley, 2006 p.338). Confusion sometimes arises in the childhood depression field, as it does with adult depression, because of different usages of the term â€Å"depression†and associated differences in methods of assessment. Moreover, the Diagnostic and Statistical Manual of Mental Disorders, which is the primary reference of psychiatric diagnosis, frequently changes. One example is in studies of childhood and adolescent depression, the term is variously used to identify depressed mood, a constellation of mood and other symptoms forming a syndrome, or a set of symptoms meeting official diagnostic criteria for depressive disorder. The usage of such term connotes various meaning, such as depression as a symptoms (lonely, fear impulses, guilt, etc.) and depression as a syndrome (comprises clusters of various signs and symptoms) (Mash & Barkley, 2003 p.336). Neurobiology of Childhood & Adolescent Depression            Biologic studies in children are difficult to implement since they often require several blood draws, subjects remaining still more long periods of time, and the overall cooperation of the children and adolescents. Three types of investigation have provided information on possible developmental differences in the neurobiology of depression. The first is the study of Cortisol secretion, measured by investigations such as the dexamethasone suppression test (Rapoport, 2000 p.230).            Studies of neurotransmitters in depressed adults have focused on norepinephrine, serotonin, and acetylcholine. Serotonin regulation studied in adults with depression reported that in response to L-5hyroxytrytophan in 37 pre-pubertal depressed children secreted less Cortisol and more prolactin than age-matched and gender-matched normal controls, suggesting a deregulation of central serotonergic systems in childhood depression.            Abnormalities of the hypothalamic pituitary-thyroid axis and the hypothalamic pituitary-growth hormone axis have been reported in depression in adults. However, Cortisol hypersecretion, as measured by repeated samples over a 24-hour period or by nocturnal sampling, has not been identified in depressed children and adolescents although adolescent showed a Cortisol elevation at the approximate time of sleep onset (Coffey, 2006 p.266).            The second type of developmentally informative investigation is the study of sleep. Polysomnographic studies of depressed children and adolescent have tended to demonstrate abnormalities of sleep, including shortened rapid eye movement (REM) latency and reduced slow wave sleep. These generally positive results of polysomnographic studies with children have shown few differences (Rapoport, 2000 p.231).            The third type of developmentally informative investigation is the study of growth hormone. A variety of pharmacological challenge agents that stimulate release of growth hormone have been studied in depressed adolescents and children. Interestingly, the results with adolescents have been negative in terms of slow blunted growth hormone response to provocative stimuli. However, some studies have reported high levels of growth hormone in adolescents with major depression. Moreover, pubertal children both during depressive episode and after recovery have demonstrated blunted growth hormone response to provocative stimuli (Rapoport, 2000 p.231). Psychopharmacology: Antidepressants (SSRIs)            Special considerations arise in treating children and adolescents with antidepressants. Empirical data on antidepressants in young patients are quite limited. Psychiatrists, faced with depriving children of potentially effective medication or prescribing medication or prescribing medications â€Å"Off Label,†need information on which to base treatment decisions, and efforts are underway to promote research in this area. Clinically significant differences in pharmacokinetics and possibly pharmacodynamics between adults and younger patients can also complicate treatment. Moreover, younger patients may also be more sensitive to adverse effects of medications (Preskorn, 2004 p.356).            The antidepressant drugs are a heterogeneous group of compounds that, in adults, have bee found to be effective in the treatment of major depressive disorder. This particular pharmacologic intervention is also utilized in adolescent and children with major depression; although, there have been no studies that validate the appropriateness of such medications. The following are considered as the major treatment of adolescent depression, specifically Tricyclic Antidepressants and (SSRI) Selective-serotonin reuptake inhibitors (Rossenberg & Ryan, 1998 p.28).            Tricyclic antidepressants (TCAs) have long been the first-line antidepressants used by most clinicians for adults because of their established efficacy, safety, and ease of administration, but they have been less successful in the treatment of child and adolescent conditions. The mechanism by which TCAs are effective in the treatment of adult depression and other disorders has not been clearly established. There is, however, evidence that these agents affect monoamine neurotransmitter systems in the central; nervous system, such as serotonin and norepinephrine (Rossenberg & Ryan, 1998 p.28-29). The TCAs inhibit the reuptake of norepinephrine and serotonin, potentiating their action. It has been suggested that antidepressants work by increasing noradrenergic and/or serotonergic transmission, compensating for a presumed deficiency. Controlled studies failed to demonstrate that TCAs are superior to placebo in the treatment of childhood and adolescent depression (Rossenberg & Ryan, 1998 p.28-29).            Since serotonin is also implicated in the etiology and maintenance of affective disorders, particularly depression; hence, the use selective serotonin reuptake inhibitor (SSRIs) is possible. SSRIs prevent the re-uptake of serotonin, which poses significant therapeutic value although has been shown to be less effective in therapeutic trials in children (Mash & Barkley, 2006 p.384). The SSRIs are now first-line agents for treating child and adolescent depression. The newer antidepressants, such as bupropion and mirtazapine, do not have an adequate empirical base with children; however, they are sometimes used as second-line treatments for those youths who do not respond to SSRIs. Thus far, none of the SSRIs has produced irreversible damage in children and adolescents. However, as the SSRIs gained wide use with depressed adolescents, concerns emerged about the safety of this class of medications. Reports suggested that they were responsible for increased suicidal ideation and behavior among youths (Mash & Barkley, 2006 p.384). In 2003, the British Medicines and Healthcare products Regulatory Agency (MHRA) concluded that most of the SSRIs do not show benefits exceeding their risks of suicidal ideation, and thus should not be prescribed in the child and adolescent population (Mash & Barkley, 2006 p.384).            If the adolescent fails to respond to any SSRI, then switching to a different class of antidepressant is recommended. At present, no data support the use of one agent over another. Therefore, whether the clinician chooses a TCA, nefazodone, or venlafaxine should be based on clinical experience. Other factors to consider for a given adolescent are medication side effects, medical conditions, previous medication trials, comorbid psychiatric conditions, and familial history of a positive response to particular antidepressants (Esman, 1999 p.222). Other classes of antidepressants are fluoxetine, setraline, paroxetine, fluvoxamine, venlafaxine, bupropion, trazodone, and nefazadone. As major depression has a high recurrence rate, it is recommended that pharmacologic treatment continue for a minimum of six months achieving resolution of symptoms. Medication discontinuation should be accomplished gradually, with a slow, stepwise reduction in dosage over a two- or three-month period. The health care providers should carefully monitor the adolescent for withdrawal syndromes and reemergence of depressive symptoms (Esman, 1999 p.222). Relationship to Suicide Rates            Suicidal thoughts and attempts are among the diagnostic criteria for major depression. Suicidal ideation is quite common, and has been reported in more than 60% of depressed preschoolers, preadolescents, and adolescents. Actual suicidal attempts also may occur, at rates that appear to be higher among depressed adolescents than among depressed adults (Mash & Barkley, 2003 p.336).            Studies have shown consistently high rates of comorbid psychiatric disorders in depressed children and adolescents. The comorbidity rate in children and adolescents with depression has been reported to be 80% to 95%. The most common comorbid disorders in adolescents with depression are anxiety disorders, with rates ranging from 40% to 50%. Moreover, substance abuse frequently co-occurs with depression. Adolescents with major depression are at risk for impairment in school performance and interpersonal relationships, which may interfere with achievement of appropriate developmental tasks. Suicidal behavior is a common sequela. A 10-yar follow-up of depressed child and adolescent outpatients found that 4.4% committed suicide. Mood disorder, prior to suicide attempt, and substance abuse are major risk factors for adolescent suicide (Esman, 1999 p.216).            Depressed and suicidal children and adolescents are often not identified. Identification of children and adolescents who express suicidal ideation or suicidal acts is crucial since such symptoms are recurrent and strong predictors of youth suicide. Other risk factors for youth suicide behavior have been described including family, other environmental and biological factors. Notably, family history of suicidal behavior increases risk for youth suicide (Rapoport, 2000 p.231). Reference Coffey, E. C. (2006). Pediatric Neuropsychiatry. Lippincott Williams & Wilkins. Corveleyn etal, J. (2005). The Theory and Treatment of Depression: Towards a Dynamic Interactionism Model. Routledge. Esman, A. H. (1999). Adolescent Psychiatry: Developmental and Clinical Studies. Routledge. Gotlib, I., & Hammen, C. L. (2002). Handbook of Depression. Guilford Press. Gottlieb, M. I., & Williams, J. (1991). Developmental-behavioral Disorders: Selected Topics. Springer. Hersen, M., & Hasselt, V. B. (2001). Advanced Abnormal Psychology. Springer. Maj, M., & Sartorius, N. (2002). Depressive Disorders. John Wiley and Sons. Mash, E. J., & Barkley, R. A. (2006). Child Psychopathology. Guilford Press. Mash, E. J., & Barkley, R. A. (2006). Treatment of Childhood Disorders. Guilford Press. Preskorn, S. (2004). Antidepressants: Past, Present, and Future. Springer. Rapoport, J. L. (2000). Childhood Onset of â€Å"Adult†Psychopathology: Clinical and Research Advances. American Psychiatric Pub., Inc. Rossenber, D., & Ryan, N. (1998). Pocket Guide for the Textbook of Pharmacotherapy for Child and Adolescent Psychiatric Disorders. Psychology Press. Rutter, M., & Taylor, E. A. (2002). Child and Adolescent Psychiatry. Blackwell Publishing.
Thursday, January 2, 2020
The Stains of Watergate - 1568 Words
On June 17, 1972, security guard Frank Wills became a national hero. At twenty four years old, he was working the midnight shift at the Democratic National Committee (DNC) headquarters at the Watergate complex in Washington, D.C. He discovered tape over a basement door lock and thinking none of it, he removed the tape. On another inspection round, he found the lock taped over again and called the police. They locked the doors, turned off the elevators, and started checking darkened offices. At 2:30 a.m. on the 6th floor of the Watergate complex, the police discovered five men who were identified as the Plumbers Unit on orders by The Committee to Re-elect the President (CREEP) to burglarize the DNC. The men, one who was an ex-CIA agent, were convicted of conspiracy, burglary, and illegal wiretapping. However, what started as a third-rate burglary unravelled into a broad network of political corruption and espionage within the Nixon administration that became known as Watergate. Before the summer of 1972, the term â€Å"Watergate†meant nothing more than a luxurious complex in Washington, D.C., but because five highly cunning men were somehow caught by an average, $80-per-week security guard, it became associated with the greatest political scandal of the century and many more after that. The Watergate scandal proliferated public skepticism of and mistrust in the federal government, and an angry American public called for immediate response. The widespread public mistrust andShow MoreRelatedThe Stains of Watergate1352 Words  | 5 Pagesdue to the exposure of the Nixon administration’s corrupt activities in addition to the President’s graceless resignation, the public and the news media scrutinized the backgrounds of people who sought power more carefully. A positive outcome of Watergate was the successful national movement for government transparency: to make meetings and records more accessible to the public. In 1974, Congress overrode a presidential veto and revised the Freedom of Information act, providing the public and mediaRead MoreThe Resignation of President Richard Nixon Essay1371 Words  | 6 PagesLegal Brief/Background During the year of 1972, a case submerged that shook the United State Supreme Court, as well as the world. Five intruders were caught breaking and entering into the Democratic National Headquarters in the Watergate Hotel in Washington, D.C. The Democratic National Headquarters were responsible for various things, but one key aspect of their job was to raise money and organize campaigns for Democratic candidates, including the presidential candidate, George McGovern. SoonRead MorePresident Nixon And The Watergate Scandal1641 Words  | 7 Pagesdisregarded the Constitution and the oath of office of the President of the United States. President Nixon is most famous for his involvement in the infamous Watergate scandal, which took place on June 17th, 1972 (Timeline). Nixon hired six burglars to break into the Democratic National Committee’s offices, which were located inside the Watergate office, complex in Washington. The burglars’ mission was to plant audio transmitt ers, but they were arrested after being discovered by an on duty watchmanRead MoreMusic And Its Impact On Society1340 Words  | 6 Pagesculture. Individuality, self-expression and the need for political reform were emphasized in concerts such as Woodstock. During the late 1960s and early 1970s, the intertwining of music as an expression of people’s disapproval of the Vietnam War and Watergate, shaped James Murray into the musically oriented and political cautious man he is today. James’s adult life began during a period of powerful change, where the youth of America began questioning parts of their country that society accepted. ManyRead MoreEssay about Past Political Controversies2078 Words  | 9 Pageshistory that show the need for ethical political leaders in our government, and why that would benefit society. Past Political Controversies: The Watergate Scandal The Watergate Scandal is an infamous controversy that provides insight into the corruption and operation of the President, Congress, or the Supreme Court. The term â€Å"Watergate†is used to describe the complex and tight-woven web of political scandals that occurred during President Nixon’s presidency between 1972 and 1974. The termRead MoreEssay on World Phone Hacking Scandal2506 Words  | 11 Pagesposition while an act deontologist would have straight up said no to any thought of unethical behavior. Perhaps if Murdoch and those below him had acted in a more deontological manner, the News of the World would still be open and there would not be a stain on the Murdoch brand name. If given the choice of how to obtain information and sources in Rupert Murdoch’s position, I would take the deontological route. I believe every person has the basic right of privacy and that personal information should
Wednesday, December 25, 2019
George Orwells Essay Showing Regret for Shooting an Elephant
This story is a representation of George Orwell’s perception of British imperialism around the world. It is a firsthand account of how imperialism affects both rulers and the oppressed using a short story. The author shows how imperialism is a prison to not only the Burmese, but also the British. The message can clearly be seen though Orwell’s regret in being forced to kill an elephant. The purpose of this essay is to explain Orwell’s true message of anti-imperialism using the nature of tyranny and the British Empire as examples. The author is introduced as a police officer who is sympathetic to the Burmese people. This is not a rare feeling among off duty British police officers according to Orwell. Ironically, the people hate Orwell, because he is a police officer and a representation of the British. It is clear the Burmese don’t like Europeans. Orwell says a European woman would probably get spit on if she was alone at the markets. This hate is understa ndable, because the Burmese people were conquered. This resentment is transferred to Orwell in verbal abuse on the street and physical abuse on the football field. This is interesting because even before the elephant Orwell is conflicted with his role and his beliefs. When the elephant’s escape becomes relevant, Orwell adapts the role he is expected to play. The best description is explained by Orwell with the metaphor about a face growing to fit a mask. Orwell does what a police officer is expected to do rather than whatShow MoreRelatedEssay about Ethical Decision Making3074 Words  | 13 Pagestheir choices, no matter what the income. In George Orwells Shooting an Elephant Orwell is confronted with a situation in which the latter statement directly applies. While in Burma, working as a police officer for the British, Orwell is called upon to contain an escaped pet elephant. While searching for the animal a villager is trampled to death. The villagers become scared a nd look towards Orwell to maintain control. He sends for an elephant rifle to show the people that he does have theRead MoreDescriptive Analysis6093 Words  | 25 PagesDescriptive Analyses of the Essays and Short Stories Narration and Description THE STRATEGIES Although the narrative and descriptive essays are often given as separate assignments in composition courses, they are combined in this first section so that teachers can present expressive writing and still reserve time for the many forms of informative and argumentative writing. This choice is tricky because it confirms the folk wisdom about expressive writing and rhetorical difficulty. According to
Monday, December 16, 2019
Informative Speech/Outline Vegetarians Essay examples
Topic: Vegetarians. General purpose: To inform. Specific Purpose: To inform my audience about two top types of Vegetarians. Central Idea: There are two top types of Vegetarians: vegetarian and vegan. Introduction There are vegetarians all over the world. They just want what most people want: good food and a choice. And some people become vegetarians because of their religion, their culture, and the place they live. There are different kinds of vegetarians. Some vegetarians do not eat beef or red meet, but they eat chicken and fish. Some do not eat red meat, chicken and fish, but they eat cheese, butter, eggs, milk, and other animal products. Other vegetarians do not use anything that comes from an animal. Some†¦show more content†¦2) Ovo-vegetarians refer to people who do not eat meat or dairy products but do eat eggs. Connective: I have spoken so far of vegetarians’ types. Let’s move to another group. 2. The second group is vegan. A. Veganism excludes all animal flesh and products, such as milk, honey, and eggs, as well as items refined or manufactured through any such products, such as sugar, some wines or animal-tested baking soda. B. Raw veganism includes only fresh and uncooked fruits, nuts, seeds, and vegetables. Vegetables can only be cooked up to a certain temperature. C. The next is fruitarianism – permits only fruits, nuts, seeds, and other plants matter that can be gathered without harming the plant. Conclusion So, there are many different types of vegetarians. And probably just as many definitions. As a fact, vegetarians today are everywhere. They belong to different social groups in both rich or poor countries. In parts of the world such as Africa, the Middle East, and Southeast Asia, meat is uncommon, and therefore it is an easy choice to be vegetarian. Surveys show that in both the United States and Britain about 4% of population is vegetarian. More and more people are choosing vegetarianism every day. Many people became vegetarian for health reasons. They look and feel better when they stop eating meat. Some famous vegetarians include Leonardo da Vinchi, Albert Einstein, Thomas Edison,Show MoreRelatedVegetarianism : Is It The Right Lifestyle Choice For You?4983 Words  | 20 Pagespeoples body s change and so do personal goals. When one chooses to become a vegetarian it is important to consider all factors and to educate oneself. When considering the life style of being a vegeta rian one needs to look at health benefits and facts, different types of the diet, the disadvantages, and understand how to go about it in a healthy way. For a person to take part in the lifestyle choices of a vegetarian it is important to understand the commitment and the many advantages and draw
Sunday, December 8, 2019
Present And Future Of Management Accounting â€Myassignmenthelp.Com
Question: Discuss About The Present And Future Of Management Accounting? Answer: Introduction Management accounting, is one genre of accounting, which unlike financial accounting, deals with the provision of timely and precise financial information useful for the purpose of decision making in business. The need for management accounting was felt with the change in the dynamics of the businesses and commercial activities, which contributed to their complexities. Though having its base in the early nineteenth century, accoeding to many researchers, the management accounting, as a profession has significantly changed over time, taking into account its flaws, criticism and needs of the situations. The essay tries to see the course of evolution of management accounting as a profession, over the years, in a global framework (Kaplan, Atkinson Morris, 1998). Evolution of management accounting The notion of management accounting before 1950, was that of a simple technical process which was mainly beneficial for the purpose of fulfilling the organizational objectives of the commercial enterprise. This mainly dealt with the determination of the cost of production of a business, as the business activities at that point of time were not much complicated. As the costs of production were identifiable easily, management accounting resembled the format of cost accounting broadly. A more robust management accounting system appeared in the nineteenth century in the United States of America. This type of accounting was an amalgamation of simple as well as complicated methods of accounting. These new frameworks, also including cost accounting, intended to keep a tab on the outflow of resources and in maintaining a timely and accurate report for the purpose of management of the business activities and also for helping future speculations. Management accounting in the nineteenth century also saw a few other progress which helped it to shape up more efficiently. With the emphasis on the productivity and efficiency of utilization of the capital resources, the need was felt to account for the performance of such resources in the commercial activities. This gave rise to the Du Pont procedure for management accounting, which had the provision to evaluate how well a firm can utilize the capital assets which are present with it. This method seemed to be immensely beneficial for the purpose of making the investment decisions in the commercial activities. Non accounting information usage, as a part of this type of accounting also came to existence in the first half of that century itself, which indirectly involved an economic perspective as well. This method involved the studying and analyzing of the financial behaviors of the different agents who are participating in the business activities, both on the demand side as well as on the supply side. From 1950 till now Though before 1950, the management accounting was a simpler process, slowly evolving and showing characteristics which were quite unique and different from the usual accounting behavior, the focus of this genre shifted massively from just financial accounting to dealing with information in the aspects of planning and controlling the commercial activities of a firm. The activities were getting slowly molded towards the control of the internal administrations and planning for the future business ventures. With the management accounting techniques becoming more of a problem detecting and solving one, in case of irregularities and fluctuations in the business activities, newer methods went on evolving in this field and nearly 30 methods came into existence by the end of the 1980s. In 1950s the methods followed were Cusum charts and transfer pricing, which led its way to technical methods using computers by the end of 1960s. Decision tree and Zero budgeting also came into existence in this period. Economic insights were included in this genre fro, 1970s with the increasing complexities and cognitive nature of the commercial enterprises and the expansion of their domain. Portfolio management and techniques like just in time scheduling also came into existence at this point of time (Parker, 2002). The 1980s saw few global economic turmoil like the oil price increase and a world wide recession. The period was also marked by a huge increase in competition in the commercial environment in the international framework. The commercial enterprises needed a far more comprehensive method of management accounting and this need gave rise to more robust forms of management accounting processes and the cost accounting and management techniques also saw huge transformations. The primary challenge for the management accountants became the proper usage of these techniques so as to find out the information which would be beneficial for the businesses to stay ahead of their competitors in the global business framework. Techniques like targets costing, Benchmarking and the value added type of management also came into existence during this period (Langfield-Smith, 2008). From the beginning of the 1990s, the global business framework was subjected to uncertainties and unanticipated phenomena which led to the need of taking abrupt decisions on part of the commercial enterprises. The expansion of internet and technological innovations played a huge role in the change in the dynamics of the business activities in the world wide framework. Technology also cam e into use in the management accounting field with the introduction of checking and monitoring mechanisms of customer and shareholder values and other innovations which are used in the current day management accounting. Management Accounting as a profession has been growing for the last few decades, though the concept has been there since the early nineteenth century. With the growing complexities in business, diversifying specializations and newer innovations in the technology, the needs of the commercial enterprises are also changing in order to stay competitive. In this context, management accounting comes as a cognitive branch of accounting, which not only takes into account the financial statistics, but also incorporates economic and business insights in it to help in making the decision making process easier for the managers. As can be seen from the recent developments, the evolution of the techniques in this field in the last two decades have been much higher than in the two decades prior to that. The dynamics and the complexities in the business activities are also leading to constant change and innovations in the firld of management accounting as a profession (Waweru, 2010) Conclusion It can be concluded from the above discussion that management accounting, as a profession, has had its share of ups and downs and has undergone a huge amount of changes in all of its dimensions. The management accountants over time came across different types of frauds and other hurdles, which in its turn, led them to proceed to find out newer and more innovative way outs, thereby progressing successfully. Technology also, over the years, changed and consistently had impacts on the method of management accounting, in a global framework and is contributing significantly in opening up new arenas for venturing in near future and management accounting, with the features of accounting, economics and managerial insights in it, poses as a robust business tool for the commercial enterprises in future. References Kaplan, R. S., Atkinson, A. A., Morris, D. J. (1998).Advanced management accounting(Vol. 3). Upper Saddle River, NJ: Prentice Hall. Langfield-Smith, K. (2008). Strategic management accounting: how far have we come in 25 years?.Accounting, Auditing Accountability Journal,21(2), 204-228. Parker, L. D. (2002). Reinventing the management accountant.Transcript of CIMA address delivered at Glasgow University,15. Waweru, N. M. (2010). The origin and evolution of management accounting: a review of the theoretical framework.Problems and Perspectives in Management,8(3), 165-182.
Sunday, December 1, 2019
Women Empowerment Essay Sample free essay sample
Introduction Women engagement and leading function in administration is imperative to good administration to guarantee ( I ) demographic representation and engagement of communities in legislative and policy devising procedures ; ( two ) representative articulation of demands towards human development ; and ( three ) part [ movie ] to authorities effectivity and answerability. Although there has been an betterment and acknowledgment of the importance and function of adult females in administration in recent times. their function and engagement has been limited by unequal capacity. failure to acknowledge adult females accomplishments and competences by most administration constructions and marginalising institutional and cultural patterns. Irrespective of the constitutional commissariats. adult females still see a hostile administration environment that hinders their effectual engagement and leading function. South African Context Since 1994. the South African authorities has introduced policies. programmes and establishments to guarantee adult females engagement. emancipation and created chances for adult females development. For illustration. ( I ) gender equality is a cardinal dogma under the Bill of Rights of The Constitution of South Africa. We will write a custom essay sample on Women Empowerment Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page and the state has adopted sophisticated rights-based statute law with expressed mention to gender equality ; ( two ) the South African authorities is a signer to regional and international instruments that promote gender equality ; ( three ) gender considerations are integrated into authorities policies and programmes ; ( four ) In 2005 South Africa was the eleventh state to establish the 50/50 run ; ( V ) the Women Empowerment Unit was established to place factors that hinders adult females full engagement in the legislative devising procedures ; ( six ) Commission on Gender Equality was established ; ( seven ) municipality Structure Act ( 1998. 11 ( 3 ) stipulate equal gender representation ; the National Gender Machinery has been institutionalized ; and ( eight ) the Ministry for Women. Children and Persons with Disabilities is a cardinal co-coordinating point for the promotion and protection of the rights of adult females. kids and individuals with disablements. Some of the cardinal accomplishments towards adult females administration engagement and leading function to day of the month include: †¢ The representation of adult females in parliament has increased from 25 % in 1994 to 44 % after April 2009 elections ; †¢ The figure of adult females Ministers and Deputy Ministers increased from 18 % in 1994 to 40 % in the 2009 election ; †¢ Women constitute 42 % in Provincial legislative assemblies and 40 % of all elected councilors at the Local Government Level ; †¢ 30 % of adult females in the National Council of Provinces are adult females ; †¢ Five of the nine states are led by adult females Premiers. †¢ three of the country’s six metropolitan metropoliss are led by adult females Mayors ; and †¢ South Africa is rated 3rd globally in adult females representation in Parliament after Rwanda and Sweden. The Strategy/Approach: The overall aim of the programme is aimed at bettering adult females engagement and leading function through capacity development within political parties and other political formations. i. e adult females Parliamentarians and councilors. The push of the programme attack is: †¢ Local ownership of the programme at provincial degree to guarantee sustainability ; †¢ Monitoring mechanisms to guarantee relevancy and impact. and spread out on the current cognition base on adult females engagement and leading function ; †¢ Multistakeholder attack to guarantee wide engagement and support ; †¢ Non-partisan attack to diversify input to enrich the programme ; and †¢ United Nations interagency coaction to broaden competences and expertness and cognition base. Envisaged Results †¢ Improved adult females engagement and function within administration establishments ; †¢ Increased figure of adult females Parliamentarians and councilors within administration constructions ; †¢ Effective administration establishments ; †¢ Improved administration public presentation ; †¢ Increased attainment of the Constitutional commissariats. in peculiar the gender equality ; †¢ Increased consciousness on the importance of adult females engagement and leading within administration constructions ; A ; †¢ Progressive alteration of mentality about adult females engagement and leading function within administration establishments ; Beneficiaries The donees of the Training programme include: Womans Parliamentarians and councilors ; South African administration establishments ; Political parties ; Civil society administrations ; Labour administrations ; and South African statute law establishments. Advancement to day of the month The first stage of the preparation programme was conducted by Gender Links. a Southern African NGO based in Johannesburg. Women from nine states participated in the preparation. [ movie ] Gender Links has a repute for carry oning high quality research which it uses to inform policy and schemes. speedy action and first-class bringing. These are underpinned by a strong institutional construction that includes a high profile but hands on board ; experienced staff and direction squad ; sound fiscal direction and answerability and a strong monitoring and rating unit. GL is an commissioned preparation establishment with the Education. Training. Development. Practices Sector Education Training Authority ( ETDP SETA ) . Faculty 1: Gender Awareness The aims of this faculty were to: equip participants with cardinal gender constructs for application in their work and to familiarize participants with cardinal national. regional and international committednesss for accomplishing gender equality. The Outcomes of the preparation programme include: †¢ Women in determination devising empowered to incorporate gender into all their programmes. †¢ Enhanced women’s assurance and ability to utilize their power for more effectual service bringing. †¢ Womans from political parties who attended the preparation included gender and women’s representation on their party’s docket. Faculty 2: Gender and Media Literacy The aim of this faculty were to: Understand the construct of media literacy ; Understand the proviso of SADC protocol on Gender and Development and use them to their different context ; Understand the gendered dimension of administration ; Gain accomplishment to keep media and leaders accountable ; Figure out how to construct gender into runs ; and Develop their IT for protagonism. The results of the preparation programme include: †¢ 128 adult females participated in online confab on the cyber duologues. †¢ 128 adult females empowered on the use of cyberspace to make research and with accomplishments to critically prosecute with the media †¢ Increased consciousness on the commissariats of the SADC Protocol on Gender and Development. †¢ Enhanced ICT literacy accomplishments †¢ Enhanced apprehension of the impact of the media literacy class Second stage: Phase two will concentrate on gender mainstreaming within policy preparation processes. programme development and monitoring and impact appraisal.
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