Business Ethics Essay Example | Topics and Well Written Essays - 2500 words - 7

Business Ethics - Essay Example Social responsibility according to Ferrell & Ferrell 2014, p.30) refers to the obligations of an organization to ensure it positively affects the society while minimizing its negative impacts on the society. It is worthwhile to note that although the terms ethics and social responsibility are often used interchangeably, they do not have a similar meaning. Social responsibility is a general concept that relates to the impact of entire organization’s activities on the society, whereas business ethics is linked to a work group or an individual’s decisions that the society evaluates as right or wrong (Ferrell & Ferrell 2014, p.30). Bank Muscat is the flagship financial institution in Oman with a proven record of accomplishment of excellence in service. The bank enjoys a 40% market share in Oman. The bank’s head office is in Muscat, Oman and it has an extensive network of branches throughout Oman. Additionally, the bank operates directly and indirectly in all six Gulf Cooperation Countries states, a representative office in Singapore that focuses on trade business and financial institutions, and an associate in a securities company in India. The bank is publicly listed as a joint stock company on the Muscat Securities Market as well as on the Luxembourg Stock Exchange (Bank Muscat 2012, p.14). Bank Muscat is the pioneer bank in Oman to set up a fully functional Corporate Social Responsibility (CSR) department. The organization considers CSR as one of its central values, and the bank’s CSR policy is founded on a strong belief in the positive significance of CSR. The bank’s CSR policy reflects its care and concern for various segments of the society. Bank Muscat does not view social responsibility as mere involvement in charitable activities and organizing voluntary programs, but responsibility for the overall society’s development (Bank Muscat 2011, p.15). The objectives of this paper are to explore the concepts of business ethics

Christian Theology in A Good Man is Hard to Find Essay Example for Free

Christian Theology in A Good Man is Hard to Find Essay â€Å"A Good Man is Hard to Find† by Flannery O’Conner reflects the Christian belief that even the most unlikely of people can be recipients of God’s grace. The grandmother and the Misfit, both â€Å"bad† in their own ways, are each unlikely and undeserving recipients of grace. According to Christian theology, humans are granted salvation through God’s grace, which can be bestowed upon to even the most unlikely. The grandmother’s and the Misfit’s moral codes they live by that affect their actions, decisions and perceptions. The term â€Å"moral† doesn’t necessarily mean good, but is simply the way people choose to live their lives. At first it seems as if it is the Misfit who lacks guidance as he continuously murders people. It is the grandmother whose moral code is weak and inconsistent. She has built her morals solely on what she believes make people â€Å"good.† She pays a great amount of attention in being a lady, repeatedly deceives her family, and lacks a clear standpoint on the world around her. She boasts about her love for Christianity, but does not seem to be able to pray when she finds herself in crisis. She even begins to question the power and divinity of Jesus. It is clear the grandmother is not sincere and aware of her actions. The Misfit has a strong and consistent moral code. The Misfit believes that the punishments he received from his experience of being a convicted criminal were always disproportional to his crime, and the crime doesn’t even matter at the end. He also shows a genuine curiosity about religion. The grandmother accepts faith unquestioningly while the Misfit challenges these beliefs and thinks deeply on how he should follow them or not. The Misfit has chosen to live under his assumption that religion is pointless and goes with his own belief â€Å"No pleasure but meanness.† (OConner 941). The Misfit only wishes he was present to see Jesus rise from the dead so he could know the events were factual. It is obvious the grandmother in â€Å"A Good Man is Hard to Find† lies to her grandchildren, manipulates her son, and makes several remarks as to why the  past times have superiority to the present. She believes she is morally superior to those younger than her. She also believes she has the right to judge the goodness of others and tell them how to live their lives. The grandmother seems quite oblivious to reality as she heads the family to somewhere completely different than where she thought they were. The tragic wreck was all due to the grandmother’s ignorance. Towards the final moments of her life, she instructs the Misfit to pray, despite the fact she lacks the sincere qualities herself necessary to form a prayer. As she grows afraid of what will happen to her, she agrees with the Misfit and changes her mind about Jesus rising from the dead. Her doing so reflects she is confused and unsure of her beliefs making her a very unlikely recipient of grace. The Misfit is an unrepentant murderer who finds no pleasure in anything but meanness. He shows no remorse for his actions. The Misfit was aware of Jesus being crucified, but felt that he would have had to see it to believe it for sure. Both characters show habitual sins and ultimately are each undeserving recipients of grace. Even people like the grandmother and the Misfit have potential to be saved by God, according to Christian Theology. The grandmother experiences a moment of grace after the Misfit’s wish to know for sure what Jesus did and didn’t do. Her head clears momentarily and she says â€Å"Why you’re one of my babies. You’re one of my own children!† (O’Conner 948). This suggests that the grandmother is realizing that they both are of the same kind. Given the circumstances, her comment seems pretty insane, but this is the g randmother’s clearest moment in the story. She shows compassion which implies that God has granted her grace just before she is shot by the Misfit. The Misfit too, is open to grace at this moment. He claims earlier in the story there was â€Å"no pleasure but meanness† in life, and now denies there is any pleasure in life at all after killing the grandmother. All his killings have quit giving him happiness, suggesting that he, too, may foster the possibility to change. â€Å"A Good Man is Hard to Find† has a strong, somewhat harsh portrayal of religion. The characters in this story are both awakened and their faith is altered. The Christian idea of moments of grace in this story apply to real life. It is believed among many Christian followers that God’s grace is very powerful, unlike any other human could give to another. Most people misunderstand this and think that blessings are granted upon those who do good works and  punishments through bad works. The use of grace has nothing to do with any kinds of works, which is where most people are mistaken. Rather, the principle to the Christian theology of grace is recognized in the bible by Solomon. He said it is vain to judge God on matters of good or bad works. God can surely do as he pleases and His ways are opposite of man’s ways. Solomon says: â€Å"There is vanity that is done under the earth; that there be just men, unto whom it happens according to the work of the wicked; again, there be wicked men, to whom it happens according to the work of the righteous: I said that this is also vanity.† (Ecclesiastes 5:14) This quote suggests that despite the actions one may do, it is up to the grace of God that determines what that person deserves or does not deserve. The use of grace is all part of God’s plan for humans. No matter how many men judge a person, it is only God’s judgment that determines who receives grace. The grandmother and Misfit have been awarded the positive aspects of grace, which is not dependent on works of any kind. According to Christian theology, humans are commanded to be righteous and not evil. It says in the bible that God loves his creations so intensely he gave his only son to die for all human sins, which was a big question mark for the Misfit. If only he had known for sure maybe he would have never committed the immoral crimes he did. If the Misfit would have only known that according to Christian theology, all humans are destined by God’s divine grace no matter what deeds that have been done on earth, he would have made wiser decisions. If only th e grandmother had been shot every day all of her life, according to the Misfit, would she have been a better lady. When thinking of Christian theology, one would agree it just pertains to religion and God. Theology is the study of religion, and God’s relation to the world. Theology is based upon the Old and New Testament in the Bible, as well as historic traditions practiced by Christians. It has been practiced for thousands of years. People have always tried to make justifications to argue, examine, clarify, defend or promote Christianity. The Misfit seems to know most aspects when it comes to the Christian religion, as he talks about all of Christ’s works in the story. The way he viewed Christian beliefs was all an outcome on how he lived his life. â€Å"Our concepts about the divine  inform our lives more deeply than most people can trace. Whether God is viewed as distant or near, as gracious or capricious, as concerned or apathetic, the conclusions we reach—whether the result of careful reflection or negligent assumptions—guide our lives.† (Kapic 1) The wa y people live their lives depends on an individuals’ belief about theology and the way God relates to the world. It is the beliefs people choose to accept that ultimately guides everyday lives. Whether people choose to accept or deny that there is a God, it is all based on individual experiences and beliefs. The grandmother seemed to have thought she knew all about Christianity, but judging by her actions, it is clear she did not genuinely live righteously. There is no factual evidence that Jesus is real, but many have come to receive grace in their final moments, as shown in â€Å"A Good Man.† Believers of Christian faith are thought out to be hypocritical and this stereotype fits the grandmother’s character in â€Å"A Good Man Is Hard to Find.† Just like the grandmother and Misfit in the story, it is grace that enabled them to come to Christ sincerely. The final lines in the story depict both the grandmother’s and Misfit’s realizations as if they have received answers to all questions about life. â€Å"A Good Man is Hard to Find† reflects the Christian theology of grace. The grace of God is a gift, and if willing to accept it, even when undeserving, humans can be granted salvation like the grandmother was. The grace of God has been shown not to bestow upon the mere form of actions, but onto ones who are open to Christ, according to â€Å"A Good Man Is Hard To Find.† Works Cited New King James Version. Thomas Nelson, Inc., 1982. Print. Kapic, Kelly M. A Little Book for New Theologians. InterVarsity Press, 2012. Print. O’Conner, Flannery. â€Å"A Good Man Is Hard to Find.† The Writer’s Presence. Bedford/St. Martins; Fourth Edition, 2003. 931-943. Print.

Social Exchange Theory

Social Exchange Theory Social Exchange Theory is a perspective of the field of social psychology and sociology to explain social change and stability, representing them as a process of negotiated exchanges between people. Social exchange theory can be described as the theory, according to which, human interaction is a unique transaction, which seeks to increase the rewards and to reduce the costs. The social exchange theory advocates that all human relationships are formed by using a cost-benefit analysis and comparison with alternatives.ÂÂ  For example, when a person perceives the costs of a relationship over the profits made, the person, according to this theory, leaves the relationship.ÂÂ  This theory has its roots in economics, psychology and sociology. The social exchange theory is linked to the rational choice theory and structuralism, its major features. Exchange theory arose as a reaction to functionalism, which focused on the impact of a phenomenon on the system.ÂÂ  This is not a single theory, but rather the band theory, describing the social world as a system of exchanges of goods (tangible and intangible) between individuals and social groups.ÂÂ  Social exchange theorists see every interaction as a transaction something for something.ÂÂ  It is like a theory of individual self-interest.ÂÂ  If a person takes any action, it does so with the prospect of benefit for himself.ÂÂ  Often it is the intangible benefit, such as respect from others, obedience, satisfaction, etc. Social exchange theory is a theory in social science which states that there are elements in social relations without discipline, sacrifice, and benefits that affect each other. This theory explains how humans view their relationships with others in accordance with the assumption of human self is to: the balance between what is given to the relationship and what is excluded from that relationship. There is no unified sociology of exchange, but one can distinguish three main theoretical points of theories. Taking the example of the mutual exchange of between the bride and groom, so this could be either a civil contract between two different-actors to the mutual exclusive use of their bodies, or a mutually donated sacrament, by which ChristianityÂÂ  continues, or view as an institutional and thus pacification a driver or will form. Exchange of individuals.ÂÂ  Sociological theorists think consider the assumption that individuals always act when exchanged (individualistic, paired, antagonistic perspective).ÂÂ  No matter what they share in a particular case, there are always sociological social sanctions.ÂÂ  As positive sanctions, for example, congratulations or goods, but as negative there are insults or threats.ÂÂ  Often in the exchange theory only positive or ambivalent sanctions are treated, but include more general approaches and negative sanctions. In the distribution of conflict the actors face each other with conflicting interests. The one advantage is the other drawback: any one tried if it goes to positive sanctions, and spend as little as possible from the opponent to gain as much as possible.ÂÂ  In economics, this strategy, which it called only for positive sanctions (such as goods for money in markets), is the minimax principle.ÂÂ  And also, if people have antagonistic re lations and negative social sanctions (for example acts of violence against violence, such as in war) taken into account, the exchange ends here trying to minimize its losses and maximize the opponent. Considering the criticism, critical is pointed out that this is based on Homans and Blau, Exchange Theory as a variant or mutation of the behaviorism. It had become a rational choice model, and this methodological simplification was achieved at a price, as compared toÂÂ  classical and other approaches in sociology would be neglected by extra-economic motivations, norms and institutions and their history in general. Durkheim or Mauss expected to behave in exchange for all social collectives (community, systemic view).ÂÂ  Controlled by the exchange, the consideration to the group received the actors (mostly positive) from each other sanction.ÂÂ  The players share a common interest in the welfare of the collective, which is the individuals self-interest.ÂÂ  Each exchange includes the end and always a compromise in favor of the collective, even as a loyal member of a community and even with regard to his own advantage.ÂÂ  The Collective is always with a person, which is reflected in valid rituals (for example the handshake) or norms (such as the Commercial Law) that express stability.ÂÂ  Because of that, all exchange behavior is also spoken of as amphibole exchange. The theorist Clausen considers one of some forms of exchange that, in addition to the nature of man involves him into it with acting. Here, the parties conduct an exchange so that the survival of the human speci es will be encouraged to nature and other species.ÂÂ  So it is not only a sociological but also the anthropological institution.ÂÂ  This refers in particular to reproduction, child care and fighting prowess.ÂÂ  The most common example is the dyad between infant and caregiver time (usually, but not necessarily the mother), is expected to result that in the both the exchange is biologically supported and the happier they are, the better it is for others. Exchange theory by Homans. According to George Homans, the social behavior is an exchange of material goods, and it is also intangible, such as the symbols of approval and prestige. Homans, George tried to explain the behavior defined in the broadest sense as a result of interaction in which individuals acquire, sell, or share resources. He tried to explain social behavior using fundamental concepts of behavior, developed by behavioral psychologists, and neoclassical economists.ÂÂ  Behavioral model of operant conditioning is based on the utilitarian principle that individuals will seek to maximize enjoying and to avoid or minimize the pain.ÂÂ  It is assumed that individuals will respond as expected to reward and punishment.ÂÂ  Any interaction provides an opportunity to share resources, in which each party tries to get resources, with a higher value in comparison with that which he or she gives or which refuses. All social organizations were created on the basis of the network exchanges.ÂÂ  The organization needs the unit to be fulfilled by other bodies belonging to this organization.ÂÂ  Homans has developed five general provisions relating to social behavior and resource sharing.ÂÂ  Three of them reproduce the model of behavioral psychologists. The first statement directly follows from the model of operant conditioning, and says: In respect of any acts performed by people, the more often a person is rewarded for a particular action, the more that person will perform this action.ÂÂ  The second situation is linked to recognition of the role of past experience: In the past, the emergence of a particular stimulus or set of incentives has created a situation in which human action is rewarded, the more the present-day incentives are similar to those past stimuli, the more that person will perform the same or similar toÂÂ  his action in the present.ÂÂ  However, the third provision states that for their actions when a person does not receive the expected rewards or receive unexpected penalty, he goes berserk and can behave aggressively.He created a series of allegations, among them are the claim of success, the assertion of deprivation and that there is saturation of aggression. These statements are a part of seven and, according to crowning this list is the assertion of rationality, which says that the body of the two alternative measures will choose the one which gives the most likely results to achieve greater benefits. The basic proposition is: success: the more action the individual is rewarded with, the more likely it is to take this action. the stimulus: if the past occurrence of a specific stimulus or combination of stimuli was a circumstance, in which individual action has been rewarded, the more likely it is that the unit would take this or a similar effect. value: the more the action is for the individual securities, the more likely that it will be demonstrated this action. -saturation of deprivation: the more frequently in the recent past, the unit received a particular prize, the less valuable it becomes for each additional unit of the award. frustration-aggression: If the unit does not bring action to obtain a reward or punishment received by the entity, which they did not expect, it will react with anger, and anger aggressive behavior results will have a reward value. Exchange Theory by Peter Blau. Peter Blau introduced the analysis of exchange, which processes the term marginal utility, which says that the more the expected rewards entity obtains from a particular act, the less valuable this action is, and the less likely it will be.ÂÂ  The idea is that if in a result of the exercise we get some action on the awards, you will have less value, which will be a new round of the award.ÂÂ  Another concept introduced by Blau is the concept of standards for fair exchange, which indicates what should be the ratio of rewards to costs in the exchange relationship.ÂÂ  If these standards are shaken, then the injured party may disclose to aggressive behavior. Blau concept differs from the concept of Homans that provides conflict situations. Balance in one relationship, which is impaired by homeostasis seen in another.ÂÂ  Blau has another concept, which is social attraction that is the perception of opportunities for reward.ÂÂ  This is according to sociologist factor, necessary for the existence of the exchange ratio, which is based on the belief that people who give awards, in turn, you will receive the award as payment for the goods delivered.ÂÂ  There are four types (classes): the prize money, social acceptance, respect (deference) and submission.ÂÂ  Of these, the greatest value is the submission, then the respect, acceptance, and the least appropriate reward in the relations of social exchange is money. Submission is the most valuable prize because for Blau it is inherent in the relationship of power, and this in turn gives a possibility of denying rewards to those who do not want to comply with the standards.ÂÂ  Power is born when the value of services exceeds the value of services received in return.ÂÂ  If people have to choose only one or a few alternative sources of awards, then it also comes to forcing submission.ÂÂ  This is further facilitated if people are not giving to the possibility to use the coercion and opposition to a person providing services.ÂÂ  Inability to work around without data prizes also affects positively the opportunity to force the submission by the person in possession of these awards. Exchange in social psychology. Social psychology also speaks about human relations as relations of exchange. These systems are based on the so-called rule of reciprocity, under which we are committed to the future for favors, gifts, invitations and the goods that we have received.ÂÂ  According to social psychologists one of the important principles is governing the human investigation.ÂÂ  This commitment to the rematch probably exists in all human societies.ÂÂ  Researchers say that this rule has developed in order to encourage people to contact, based on mutual exchange of services without fear of giving something to another, and we lose it forever.ÂÂ  Another form of this rule is called reciprocal concessions, namely: if someone goes to hand us, we do it to him, too.ÂÂ  Thus we can safely take the first step to someone, as he will be obliged to give us a similar sacrifice.ÂÂ  This rule is valid according to social psychologists and it is an effective r egulator of social relations. The emergence of social exchange theory. In general, the social exchange theory consists of social relations rather than public. The societies have viewed the behavior influence of each other in the relationship; there are also elements of discipline, of sacrifice and gain that reflect social exchange.ÂÂ  The reward is all that through the sacrifice, when the sacrifice can be avoided, and the benefit is reduced by the rewards of sacrifice.ÂÂ  So the social behavior of the exchange at least between two people is based on the cost-benefit calculations.ÂÂ  For example, patterns of behavior in the workplace, romance, marriage and friendship. Analogy from the case, at some point people can feel in any of their friends, who, usually, are always trying to get something from you.ÂÂ  At that time you always give what a friend needs from you, but the opposite is actually happening when you need something from your friends.ÂÂ  Each individual course has a goal to be fri ends with each other.ÂÂ  These individuals would be expected to do something for others, help each other if needed, and provide mutual support.ÂÂ  However, maintaining friendly relations also requires the costs, such as the lost time and energy and other activities.ÂÂ  Although these costs are not seen as something that is expensive or burdensome when viewed from the point of reward obtained from these friendships.ÂÂ  However, these costs should be considered if we are to objectively analyze the relationships that exist in a friendly transaction.ÂÂ  If the cost seems not in accordance with the compensation, what happens is the uneasy feeling of a person who feels that the benefits received were too low compared to the cost or sacrifice that has been given. An analysis of the social relationships that occur according to the cost and reward is one characteristic of the exchange theory.ÂÂ  This exchange theory has focused on micro-level analysis, particularly at the interpersonal level of social reality.ÂÂ  In this discussion the focus will be on the notion of exchange theory by Homans and Blau.ÂÂ  Homans in his analysis insisted on the necessity to use the principles of individual psychology to explain social behavior rather than merely describing it. But Blau, on the other hand, was trying to move from the level of interpersonal exchanges at the micro level to the macro level of social structure.ÂÂ  He attempted to show how larger are the social structures that emerged from the basic exchange processes. Unlike the analysis described by the theory of symbolic interaction, exchange theory was mainly seen as the real behavior, not the processes that are purely subjective.ÂÂ  This was also adopted by Homans and Blau, who were not focused on the subjective level of consciousness or reciprocal relationships between the levels of dynamic interaction of subjective.ÂÂ  Homans further argued that scientific explanations should be focused on real behavior and then can be observed and measured empirically. The process of social exchange has also been expressed by the classical sociologists.ÂÂ  As expressed in the classical economic theory of the 18th and 19th century, the economists like Adam Smith have analyzed the economic market as a result of a comprehensive collection from a number of individual economic transactions.ÂÂ  He assumes that transactions will happen only if both parties can gain from these exchanges, and welfare of the community in general can be very well s ecured when the individuals are left to pursue personal interests through negotiated exchanges in private. Conflicts of individualistic and social exchange in collectivism. Conflict that occurs is a result of the growing contradiction between the individualistic orientation and collectivism.ÂÂ  Homans is probably someone who was very stressed on an individualistic approach to the development of social theory.ÂÂ  This is certainly different from the explanation that the Levi-Strauss, a collectivist, in issues especially regarding to marriage and kinship patterns. Levi-Strauss is an anthropologist who comes from France. He developed a theoretical perspective of social exchange on the practice of marriage and kinship system of primitive societies. A general pattern of analysis is when a man marries his mothers daughter.ÂÂ  A pattern that happens is that people rarely marry the daughter of his fathers brother. This latter pattern was analyzed further by Bronislaw Malinowski, who advanced by the exchange of nonmaterial. In explaining this, Levi-Strauss distinguishes two exchange systems, which include restricted and generalized exchange.ÂÂ  In restricted exchange, members of the dyad groups are directly involved in the exchange transaction, each member of the couple give each other a personal basis.ÂÂ  And in the generalized exchange, members of a group of triads or even larger accept something other than a dyad who gives something useful. In these exchanges the impact is on the integration and solidarity groups are inÂÂ  a more effective manner.ÂÂ  The main purpose of this exchange process is not to allow couples who are involved in an exchange to meet the needs of individualization. An analysis of marriage and kinship behavior is a criticism of Sir James Frazers explanation of a British expert who studies the economic anthropology on patterns of exchange that occurs between mating pairs in primitive society. The theory of exchange today does not represent a single school of thought.ÂÂ  Strictly speaking, there are several theories that share a common position that human interaction is a process of exchange.ÂÂ  In addition, each of them has their own views on human nature, society and social science. Theories of exchange have been and still are often criticized for the lack of freshness, the evidence of certain statements, ignoring the existence of a forced situation.ÂÂ  Most can be found with the view that this point of view narrows the social life and relations between people only to the physical assets. As a fact, social forms of exchange are perceived differently and communicated, as a sociological and anthropological analysis would be expected to.ÂÂ  As the question of justice, including equivalence of an exchange is directed according to dominant values, or it is judged differently from the representatives of warring values. Social exchange theory Social exchange theory Main dependent factor(s): Value and utility: profit, rewards, approval, status, reputation, flexibility, and trust Main independent factor(s): Exchange relation, dependency, and power Summary of theory Social exchange theory was formed by the intersection of economics, psychology and sociology. The theory was developed to understand the social behaviour of humans in economic undertakings, according to the theorys initiator Hormans (1958). There is a fundamental difference between the two the theories: economic exchange and social exchange theories, which is the way in which the actors are seen. Exchange theory views actors (persons or a firm) as dealing not with another actor but with a market (Emerson, 1987, P.11), reacting to various market characteristics; while social exchange theory sees the exchange relationship between specific actors as actions contingent on rewarding reactions from others. (Blau, 1964, P.91) Nowadays, various forms of social exchange theory exist, but all of them possess the same driving force which essentially is the same central concept of actors exchanging resources via a social exchange relationship. Where social exchange (e.g., Ax; By) is the intentional transfer of resources (x, y ) between several actors (A, B) (Cook, 1977). A network model (Cook, 1977) with market properties (Emerson, 1987) is the evolved form of the theory which previously was a dyadic model. The core of the theory is best captured in Homanss own words (1958, P.606) Social behaviour is an exchange of goods, material goods but also non-material ones, such as the symbols of approval or prestige. Persons that give much to others try to get much from them, and persons that get much from others are under pressure to give much to them. This process of influence tends to work out at equilibrium to a balance in the exchanges. For a person in an exchange, what he gives may be a cost to him, just as what he gets may be a reward, and his behaviour changes less as the difference of the two, profit, tends to a maximum.In conclusion, social exchange theory is best understood as a framework for explicating movement of resources, in imperfect market conditions, between dyads or a network via a social process (Emerson, 1987). Agency Theory or Principal-Agent Problem Key dependent factor(s) Efficiency, alignment of interests, risk sharing, successful contracting Key independent factor(s) Information asymmetry, contract, moral hazard, trust Summary of Theory In economics, the principal-agent dilemma treats the technical hitches that come up under conditions of unfinished and asymmetric information when a principal hires an agent. A variety of mechanisms could possibly be used in an attempt to align the interests of the agent with those of the principal, for instance piece rates/commissions, profit sharing, efficiency wages, the agent posting a bond, or fear of firing. The principal-agent problem is seen in the majority of employer/employee relationships. Agency theory is focussed at the ever-present agency relationship, which basically is: one party (the principal) entrusts work to another (the agent), who carries out that work. The resolution of the two problems in an agency relationship that can occur is the primary concern of agency theory. Firstly, is the agency problem which surfaces when (a) the desires or goals of the principal and agent conflict and (b) its difficult or expensive for the principal to authenticate what the agent is actually doing. The predicament here is the principal cant confirm that the agent has behaved fittingly. Secondly, is the problem of risk sharing that arises when the principal and agent have dissimilar attitudes towards the risk. The problem at this point is that the principal and the agent may fancy different actions since they have different risk preferences. Relationship between theory and Information Systems Agency theory sees the firm as a nexus of contracts amongst interested individuals. The owner employs agents (employees) to execute work on his/her behalf and delegates some decision-making power to the agents. Agents must be under constant supervision and management; this stems the introduction of management costs. As firms grow consequently management costs rise. Information technology minimises agency costs by providing information without difficulty so that managers can oversee a larger number of people with fewer resources. Simply, technological changes support the agency theory, which enables managers to supervise more employees at a reduced cost. Technology in general, and information systems particularly, save companies lots of money by reducing the number of managers needed to oversee larger numbers of workers. Transaction Cost Theory or Transaction cost economics Main dependent factor(s) Governance structure, degree of outsourcing, outsourcing success, inter-organizational coordination and collaboration Main independent factor(s) Coordination costs, transaction risk (opportunity costs), coordination costs, operational risk, opportunism risk, asset specificity, uncertainty, trust Summary of Theory In the field of economics and its related disciplines, a transaction cost is a cost incurred while making an economic exchange. A variety of transaction costs exist, for instance, search and information costs are the costs incurred in determining if a required good is available on the market, who has the lowest price, etc The costs required to achieve a satisfactory agreement with the other party to the transaction, drawing up an suitable contract, etc., is known as the bargaining cost. Policing and enforcement costs are costs that make sure the other party abide the terms of the contract, and taking appropriate action (regularly through the legal system) if this turns out not to be the case. Transaction costs consist of costs incurred in the process of looking for the best supplier/partner/customer, the cost of drawing-up a supposedly air-tight contract, and the costs of monitoring and enforcing the carrying out of the contract. Transaction cost theorists state that the total cost incurred by a firm can be grouped basically into two components: transaction costs and production costs. Transaction costs, which are often referred to as coordination costs, are the costs of all the information processing necessary to coordinate the work of people and machines that perform the primary processes, whereas production costs comprise the costs incurred from the physical or other primary processes necessary to create and distribute the goods or services being produced. Relationship between theory and Information Systems Transaction cost theory is based on the notion that a firm incurs transaction costs when the firm buys on the marketplace in comparison to making products for itself. Traditionally, in an attempt to reduce transaction costs firms wouldve gotten bigger, hired more employees, integrated vertically and horizontally, and wouldve taken over small-company. IT helps firms reduce the cost of market participation (transaction costs) and helps firms minimise their size while producing the same or even greater amount of output. In simplified terms, transaction cost theory supports the idea that assistance or through the help of technology businesses can minimize their costs of processing transactions with the same emphasis and enthusiasm that they attempt to minimize their production costs. Frameworks Traditionally, the Chief Information Officer (CIO)s job description entailed ensuring that the Business Strategy and Information Systems strategy were aligned. Successful information technology/business alignment, however, entails more than executive level communication and strategy translation. Achieving alignment is usually done by establishing a set of well-planned process improvement programs that systematically tackle obstacles and go further than executive level conversation to filter through the entire IT organization and their culture. IT/Business Alignment Cycle A generally used methodology is the IT/Business Alignment Cycle, which introduces a straightforward framework that the IT organization can take on to manage a broad range of activities. The cycles four phases are: plan, model, manage, and measure. Organization-wide shared expectations between business and IT managers are fostered utilizing this cycle, and a universal framework is defined for a wide-range of activities that jointly serve to align IT and business objectives. Within the cycle the best practices and common processes within and between IT functional groups are identified which makes IT/business alignment sustainable and scalable. When integrated and automated with software applications and monitoring tools the framework functions optimally. Plan Phase: In this phase business objectives are translated into quantifiable IT services. This phase aids in closing the gap between what business managers need and expect and what IT can deliver. Giga Research reports that IT leaders in poorly aligned organizations are still trying to elucidate technology management issues to their business colleagues and havent made that leap to comprehending business issues and communicating with them on a business-minded level. To bridge the gap between what business expects and what IT can deliver, IT must have an ongoing dialogue to elucidate business needs in business terms. Without any ongoing dialogue, its difficult for IT to determine which IT services to offer or how to efficiently allot IT resources to maximize business value. Also, when business needs change, IT ought to adjust and modify the service offering and IT resources fittingly. CIOs should consent the use of a regimented service level management process that will lead to agreement on precise IT services and service levels required to support business objectives. IT management can then translate service definitions and service levels into fundamental rules and priorities that empower and guide IT resources. Lastly, IT needs a method to measure and track both business level services and the underlying capabilities that support the services. Model Phase: An infrastructure should be designed to optimize business value. The model phase pinpoints resources needed to deliver IT services at dedicated service levels. This phase involves mapping IT assets, processes, and resources back to IT services, then prioritizing and planning resources that support those business critical services. The bottom line in measuring the triumph of an alignment is the extent in which IT is working on the things which business managers care about. This implies that IT must have processes in place for prioritizing projects, tasks, and support. To effectively prioritize resources, IT needs a service impact model and a centralized configuration and asset management repository to connect the infrastructure components back to particular IT services. This amalgamation is vital if IT is to efficiently plan, prioritize, and constantly deliver services at agreed-upon service levels while also minimising costs. Manage Phase: Results should be driven through fused service support. The manage phase permits the IT staff to deliver pledged levels of service. Assurance from the CIO that the organization meets expectations by providing a single location for business users to submit all service requests and by prioritizing those requests based on pre-defined business precedence. Without a single point-of-service request, it isnt easy to manage resources to achieve agreed-upon service levels. Furthermore, lacking a system for effectively managing the IT infrastructure and all changes, the IT staff is faced with the danger of causing failures. In order for the IT staff to ensure the effectiveness of the service desk they need to provide: A technique for prioritizing service requests based on business impact. A well-organized change management process to reduce the risk of negatively affecting service level commitments. An IT event management system to monitor and manage components that support business critical services. The basic operational metrics that enable service delivery at promised levels, in addition to the means for measuring and tracking the advancement of service level commitments using these metrics. Measure Phase: Involves the verification of commitments coupled with improvement of operations. Cross-organization visibility into operations and service level commitments is improved in this phase. Conventional IT management tools operate in functional silos which confines data collection and operational metrics to focused areas of functionality, relating more to technology than to business objectives. Component-level metrics and measures are definitely essential for continuing service availability. Nevertheless, to support real-time resource allotment decisions, these measures must be construed in a broader business context, with the inclusion of their connections to business-critical services. Without a business context for construing measures and metrics, isolated functional groups cant get a holistic view of IT services that sustain business objectives. By committing to the cycle and integrating and automating activities using software solutions, its possible to align a whole organization to make logical improvements that prevail over obstacles. Competitive Forces Model Porters competitive forces and strategies is one of the popular and effective models for formulating a strategy. After studying a number of business organizations, Michael E. Porter proposed that mangers can formulate a strategy that makes an organization achieve a higher level of profitability and reduce vulnerability if they understand five forces in the industry environment. Porter found the following forces determine a companys position vis-ÃÆ'Â  -vis competitors in the industry: The rivalry among existing competitors The threat of new entrants The threat of substitute products and services The bargaining power of buyers The bargaining power of suppliers Porters framework (competitive forces model) has long been acknowledged as a valuable tool for business people to utilize when thinking about business strategy and the impact of IT. Porters framework illustrates why some firms do better than others and how they gain competitive advantage. It also analyzes a business and identifies its strategic advantages, as well as, demonstrating how entrepreneurs can develop strategic advantages for their own business. And lastly, it shows information systems contribute to strategic advantages. The threat of new entrants: The threat of new entrants to an industry can create pressure for established organizations, which might need to hold down prices of increase their level of investment. The threat of entry from in an industry depends largely on the amount and extent of potential barriers, such as cost. The power of suppliers: Large, powerful suppliers can charge higher prices, limit services of quality, and shift costs to their customers, keeping more of the value for themselves. The concentration of suppliers and availability of substitute suppliers are significant factors in determining supplier power. The power of buyers: Powerful customers, the flip side of powerful suppliers, can force prices down, demand better quality or services, and hence drive up costs for the supplying organization. The threat of substitutes: The power of alternatives and substitutes for a companys product or service maybe affected by changes in cost, new technologies, social trends that will deflect buyer loyalty, and other environmental changes. Rivalry among existing competitors: In most industries, especially when there are only a few major competitors, competition will very closely match the offering of others. Aggressiveness will depend mainly on factors like number of competitors, industry growth, high fixed costs, lack of differentiation, capacity augmented in large increments, diversity in type of competitors and strategic importance of the business unit. Information Systems Competitive Advantage In order to be competitive, companies must have a degree of quickness, nimbleness, flexibility, innovativeness, productivity, thriftiness and customer centricity. It must also align its IS strategy with general business strategies and objectives. Given the five market forces mentioned above, Porter and others have proposed a number of strategies to attain competitive advantage: Low-Cost Leadership Information systems can be used achieve the lowest operational costs and the lowest prices. For instance, Wal-Mart has utilized IT to develop anefficient customer response systemthat directly links customer behaviour back to distribution, production, and supply chains. Product Differentiation Information systems can be used in the process of enabling new products and services, or significantly changing the customer convenience in the use of an existing products or services. Mass customization enables organizations to offer individually tailored products or services through the use of mass production resources. Focus on Market Niche Using information systems enables a firm to pinpoint a specific market focus, and thus allowing them to serve this narrow target market better than competitors. Information systems can support this strategy because it can be used to produce and analyze data for use in finely tuned sales and marketing techniques. Companies can now analyze customer buying patterns, tastes, and preferences closely so that they efficiently and effectively pitch advertising and marketing campaigns to smaller and smaller target markets. Strengthen Customer and Supplier Intimacy The use of information systems tightens linkages with suppliers and develops intimacy with customers. Switching costs increase when and where therere strong linkages between customers and suppliers (expense a customer or company incurs in lost time and expenditure of resources when changing from one supplier or system to a competing supplier or system). STRENGTHS OF THE FIVE COMPETITIVE FORCES MODEL The model is a strong tool for competitive analysis at industry level, compared to PEST analysis It provides useful input for performing a SWOT Analysis LIMITATION OF PORTERS FIVE FORCES MODEL Care should be taken when using this model for the following: do not underestimate or underemphasize the importance of the (existing) strengths of the organization (Inside-out strategy). The model was designed for analyzing individual business strategies. It does not cope with synergies and interdependencies within the portfolio of large corporations. From a more theoretical perspective, the model does not address the possibility that an industry could be attractive because certain companies are in it. Some people claim that environments which are characterized by rapid, systemic and radical change require more flexible, dynamic or emergent approaches to strategy formulation. Sometimes it may be possible to create completely new markets instead of selecting from existing ones.

Causes Of The Great Depression Essay -- essays research papers

Causes of the Great Depression Many people think that the Great Depression was caused solely by the stock market crash. Anybody who tells you this probably didn’t pass U.S. History in high school. The fact is, the Great Depression was caused many different factors. Four of which were overproduction, uneven distribution of wealth, protective tariffs, and the four â€Å"sick industries† of the 1920’s.   Ã‚  Ã‚  Ã‚  Ã‚  After World War I, new technological improvements helped factories to produce higher quantities of goods using smaller amounts of employees. Fewer workers meant less money being redistributed to the consumers to purchase products. America didn’t have a necessity for this higher quantity of goods with less people receiving paychecks. Thusly, the age-old system of supply and demand began to wither because there were too many products with too few people who could afford them.   Ã‚  Ã‚  Ã‚  Ã‚  In 1922, the average weekly earning for most people was about 22 dollars. Because of this uneven distribution of income, families couldn’t afford to buy most products. Businesses suffered additionally because they had trouble selling goods. Most profits that could have been put into employee’s salaries went to shareholders or back to the business itself. If the workers had higher wages, they would be able to purchase goods and thus help the economy.   Ã‚  Ã‚  Ã‚  Ã‚  In 1930, congress passed the Hawley-Smoot Tariff Act, which created the highe...

Promoting cultural diversity in work with children and young people Essay

Culture can have many different meanings and the way the word is used has changed over time. Culture can cut across nationalities and religions. It is what gives groups of people in our society their identity. Culture also refers to the way groups live, for example – travellers with, shared customs, thoughts, arts, language and social activity. Recognising and promoting cultural diversity of individuals and groups within the school will develop learning and encourage the knowledge and understanding of all pupils. It is important that schools celebrate the bilingual or multilingual skills of pupils. Schools will have a policy in place which states how to ensure inclusive practice, including the additional support for pupils who need to improve their English if it is not their first language. We have a child in our class (Year 2) who is learning 2 languages that are spoken in Venezuela, where his parents are from. He is learning Spanish and Warao. We have noticed that he is finding it difficult sometimes to comprehend instructions. As teaching staff we are understanding and sympathetic to his needs as we are aware he is learning about his culture which is extremely important to his parents and his upbringing. We repeat any instructions given and check he has understood them. Understanding and taking account of our pupil’s background and culture is essential for us to build effective relationships and provide support. The diverse cultures in our society should be recognised and reflected throughout the curriculum. For example, incorporating music, foods, stories and drama from a range of cultures will help to contribute to a prosperous curriculum. This demonstrates that we (as a school) are not only valuing the culture of groups but also supporting all pupils to explore and understand cultures which are different from their own. During International Week in school last year each class picked a country to explore and learn about. The children had to learn about the culture, language, foods, traditions and the flag of their chosen country. The class teacher also did the register in the language of the country and the children answered ‘good morning’ in the language also. At the end of the week we held a school assembly for each class to do a presentation of their work on their country and the interesting and cultural things they had found out.

Essay on Edexcel G3 June 2010 40 mark question

Essay on Edexcel G3 June 2010 40 mark question Essay on Edexcel G3 June 2010 40 mark question Throughout the world there is a huge disparity in the wealth between nations in the world. Whilst the richest countries maintain a high quality of life the same cannot be said for those poorest countries (LDC’s). LDC countries often have population living in poverty with a low quality of life, barely any social mobility and little if any access to change and develop as a country. However the world seeks to change these impacts and hopes to change the future of LDC countries, but around the world there are many different views on how these countries can develop be that from intervention or not. There are many barriers which LDC countries face, these have all been seen as essential factors to develop and so the UN created a set of goals (Millennium Development Goals) as targets for some of the poorest countries to achieve. These 8 goals include stopping poverty, greater primary education rates, equality, improved health and also striving for sustainable methods to develop. Whilst few countries have achieved all or any of these targets, they have set ways for countries to develop and to provide a better life for their population. A number of NGOs are also helping to achieve these goals with groups like the Micah Challenge, Millennium Campaign and others. This shows two types of aid, both bilateral as all UN government members work together to help, as well as multilateral through the NGO’s and other charities which worked to help solve these issues. However aid cannot for all countries as for many it becomes something they have to rely on, such as Mozambique were aid a ccounts for 60% of the country’s GDP, which in the long run is incredibly unsustainable. While many do agree that intervention is needed for these countries to develop those who don’t believe in intervention from the rest of the world point to the Asian Tigers a grouping of nations who rapidly developed and have since made a huge impact on a global economic stance as they have entered the manufacturing sector and out priced other countries. This was a stark rise before their recent rapid rate of economic development. One of the largest growths of development can be seen with South Korea one of the tigers, before the rapid industrialisation they had a HDI of 0.640 in 1980 the equivalent of 117th in the world today, however they have rapidly risen to 12th in the world with a rating of 0.909, better than the UK and France. Although many believe that this growth has come from not outside intervention. However although little aid has reached the Asian Tigers to help them development they instead benefitted from large levels of FDI from tnc’s mainly based in the western world. This investment has greatly increased the general quality of life in the country as the manufacturing provided more stable and greater earning than the previous dominant agriculture business. This extra income has allowed the population to increase their services through taxes as well as to provide more stuff for their family. However many see this type of intervention as impossible in the poorest countries in the world and they cite the high prevalence of corruption in the countries as a huge negative for foreign companies to invest. Whilst there was corruption in the Asian Tigers they also had other negatives to get investment including higher levels of literacy as well as close transport links to large areas of consumption especially to the booming South East Asian countries including China

Best Summary and Analysis The Great Gatsby, Chapter 3

Best Summary and Analysis The Great Gatsby, Chapter 3 SAT / ACT Prep Online Guides and Tips In Chapter 3 of The Great Gatsby, we finally - finally! - we get to see one of Gatsby’s totally off the hook parties! And, it more than lives up to the hype as far as Nick is concerned. Even more excitingly, we finally get to meet the man, the myth, the legend himself - Gatsby, in the flesh! So why then does this reveal, which the novel has been building toward for 2.5 chapters, seem so anticlimactic? Read on for our Great GatsbyChapter 3 summary, coveringthe highs and lows of the Gatsby Saturday night experience. Quick Note on Our Citations Our citation format in this guide is (chapter.paragraph). We're using this system since there are many editions of Gatsby, so using page numbers would only work for students with our copy of the book. To find a quotation we cite via chapter and paragraph in your book, you can either eyeball it (Paragraph 1-50: beginning of chapter; 50-100: middle of chapter; 100-on: end of chapter), or use the search function if you're using an online or eReader version of the text. The Great Gatsby: Chapter 3Summary Nick describes watching endless parties going on in Gatsby’s house every weekend. Guests party day and night and then on Mondays servants clean up the mess. Everything is about excess and a sense of overkill. Each weekend, guests are ferried back and forth to Manhattan by Rolls-Royce, crates of oranges and lemons are juiced, an army of caterers sets up tents and lighting, food is piled high, the bar is overwhelmingly stocked, and there is a huge band playing. It's an even bigger deal than it sounds because all this is happeningduring the Prohibition, when alcohol was supposedly unavailable. The first night Nick goes to Gatsby’s for a party, he’s one of a very few actually invited guests. Everyone else just crashes.At the party, Nick is ill at ease. He knows no one. There’s a surprising number of English people at the party, who seem desperate to get their hands on American money. No one knows where Gatsby himself is. Nick hangs out near the bar until he sees Jordan Baker.Nick and Jordan chat with other party people. A young woman tells them that at another one of these parties, when she ripped her dress by accident, Gatsby sent her a very expensive replacement.They gossip about what this odd behavior means. One rumor has it that Gatsby killed someone, another that he was a German spy. Food is served, which Nick and Jordan eat at a table full of people from East Egg, who look at this insane party with condescension. Theydecide to find Gatsby since Nick has never actually met him. In his mansion, they end up in the library, which has ornately carved bookshelves and reams of books.A man with owl-eyed spectacles enthuses about the fact that all these books are actually real – and about the fact that Gatsby hasn’t cut their pages (meaning he’s never read any of them). Back out in the garden, guests are now dancing, and several famous opera singers perform. Some partygoers also perform relatively risquà © acts. Nick and Jordan sit down at a table with a man who recognizes Nick from the army. After talking about the places in France where they were stationed during the war, the man reveals that he is Gatsby.Gatsby flashes the world’s greatest and most seductive (not sexually, just extremely appealingly) smile at Nick and leaves to take a phone call from Chicago. Nick demands more information about Gatsby from Jordan, who said that Gatsby calls himself an Oxford man (meaning, he went to the University of Oxford). Jordan says that she doesn’t believe this, and Nick lumps the info in with all the other rumors he’s heard (that Gatsby had killed a man, that he was Kaiser Wilhelm’s nephew, that he was a German spy, etc.). The orchestra strikes up the latest number one hit.Nick notices Gatsby looking over his guests with approval. Gatsby neither drinks, nor dances, nor flirts with anyone at the party. When Jordan is suddenly and mysteriously asked to speak to Gatsby alone, Nick watches a drunk guest weep and then pass out. He notices fights breaking out between other couples. Even the group of people from East Egg are no longer on their best behavior. Despite the fact that the party is clearly over, no one wants to leave.As Nick is getting his hat to leave, Gatsby and Jordan come out of the library. Jordan tells Nick that Gatsby has just told her something amazing – but she can’t reveal what. She gives Nick her number and leaves. Nick finds Gatsby, apologizes for not seeking him out earlier. Gatsby invites him to go out on his hydroplane the next day, and Nick leaves as Gatsby is summoned to a phone call from Philadelphia. He waves goodbye from the steps of his mansion, looking lonely. Outside, the man with the owl-eyed spectacles from the library has crashed his car. An even drunker man emerges from the driver’s seat of the wreck and is comically but also horrifyingly confused about what has happened. Suddenly, the narrative is interrupted by present-day Nick. He thinks that what he’s been writing is probably giving us the wrong idea. He wasn’t fixated on Gatsby during that summer – this fixation has only happened since then.That summer, he spent most of his time working at his second or third-tier bond trading company, Probity Trust, and had a relationship with a coworker. He started to really like the crowded and anonymous feel of Manhattan, but also felt lonely. In the middle of the summer, Nick reconnects with Jordan Baker and they start dating. He almost falls in love with her and discovers that under her veneer of boredom, Jordan is an incorrigible liar. She gets away with it because in the rigid upper-class code of behavior, calling a woman out as a liar would be improper. Nick suddenly remembers the story he had read about her golfing career: Jordan was accused of cheating by moving her ball to a better lie, but the witnesses later recanted and nothing was proven. When Nick complains that Jordan is a terrible driver, she answers that she relies on the other people on the road to be careful instead of her.Nick wants to take their relationship further, but reigns himself in because he hasn’t fully broken off the non-engagement back home that Tom and Daisy had asked him about earlier. He claims that he is one of the few honest people that he’s ever met. So, lots of car accidents, and talk about car accidents, all in the vicinity of alcohol? Can you say foreshadowing? Key Chapter 3 Quotes I believe that on the first night I went to Gatsby's house I was one of the few guests who had actually been invited. People were not invited- they went there. They got into automobiles which bore them out to Long Island and somehow they ended up at Gatsby's door. Once there they were introduced by somebody who knew Gatsby and after that they conducted themselves according to the rules of behavior associated with amusement parks. Sometimes they came and went without having met Gatsby at all, came for the party with a simplicity of heart that was its own ticket of admission. (3.7) Gatsby’s parties are the epitome of anonymous, meaningless excess – so much so that people treat his house as a kind of public, or at least commercial, space rather than a private home. This is connected to the vulgarity of new money– you can’t imagine Tom and Daisy throwing a party like this. Or Nick for that matter. The random and meaningless indulgence of his parties further highlights Gatsby's isolation from true friends. As Jordan says later, large parties are great because they provide privacy/intimacy, so Gatsby stands alone in a sea of strangers having their own intimate moments. A stout, middle-aged man with enormous owl-eyed spectacles was sitting somewhat drunk on the edge of a great table, staring with unsteady concentration at the shelves of books. †¦He waved his hand toward the book-shelves. "About that. As a matter of fact you needn't bother to ascertain. I ascertained. They're real†¦."Absolutely real- have pages and everything. I thought they'd be a nice durable cardboard. Matter of fact, they're absolutely real. Pages and- Here! Lemme show you." Taking our skepticism for granted, he rushed to the bookcases and returned with Volume One of the "Stoddard Lectures." "See!" he cried triumphantly. "It's a bona fide piece of printed matter. It fooled me. This fella's a regular Belasco. It's a triumph. What thoroughness! What realism! Knew when to stop too- didn't cut the pages. But what do you want? What do you expect?" (3.41-50) Belasco was a renowned theatrical producer, so comparing Gatsby to him here is a way of describing the library as a stageset for a play – in other words, as a magnificent and convincing fake. This sea of unread books is either yet more tremendous waste of resources, or a kind of miniature example of the fact that a person’s core identity remains the same no matter how many layers of disguise are placed on top. Gatsby has the money to buy these books, but he lacks the interest, depth, time, or ambition to read and understand them, which is similar to how he regards his quest to get Daisy. He smiled understandingly- much more than understandingly. It was one of those rare smiles with a quality of eternal reassurance in it, that you may come across four or five times in life. It faced- or seemed to face- the whole external world for an instant, and then concentrated on you with an irresistible prejudice in your favor. It understood you just so far as you wanted to be understood, believed in you as you would like to believe in yourself and assured you that it had precisely the impression of you that, at your best, you hoped to convey. Precisely at that point it vanished- and I was looking at an elegant young rough-neck, a year or two over thirty, whose elaborate formality of speech just missed being absurd. Some time before he introduced himself I'd got a strong impression that he was picking his words with care. (3.76) Lots of Gatsby’s appeallies in his ability to instantly connect with the person he is speaking to, to make that person feel important and valued. This is probably what makes him a great front man for Wolfsheim’s bootlegging enterprise, and connects him with Daisy, who also has a preternaturally appealing quality – her voice. Dishonesty in a woman is a thing you never blame deeply- I was casually sorry, and then I forgot. (3.161) The offhanded misogyny of this remark that Nick makes about Jordan is telling in a novel where women are generally treated as objects at worst or lesser beings at best. Even our narrator, ostensibly a tolerant and nonjudgmental observer, here reveals a core of patriarchal assumptions that run deep. Every one suspects himself of at least one of the cardinal virtues, and this is mine: I am one of the few honest people that I have ever known. (3.171) There are layers of meaning and humor here. First, the humor: While in Christian tradition there is the concept of cardinal virtues, honesty is not one of them. So here, since the phrase â€Å"cardinal sin† is the more familiar concept, there is a small joke that Nick’s honesty is actually a negative quality, a burden. Nick is telling us about his scrupulous honesty a second after he’s revealed that he’s been writing love letters to a girl back home every week despite wanting to end their relationship, and despite dating a girl at his office, and then dating Jordan in the meantime. So honesty to Nick doesn’t really mean what it might to most people. Second, the meaning: What does it mean to have our narrator tell us in one breath that he is honest to a fault, and that he doesn’t think that most other people are honest? This sounds like a humblebrag kind of observation. But also, we need to question Nick’s ability to understand/empathize with other people if he thinks he is on such a removed plane of existence from them. And of course since he just showed us that he is not actually all that honest only a paragraph ago, we need to realize that his narration is probably not completely factual/accurate/truthful. Plus, this observation comes at the end of the third chapter, after we've met all the major players finally - so it's like the board has been set, and now we finallt have enough informationto distrustour narrator. I guess we’re going with â€Å"Nick Carraway: World’s Most Honest Liar† on this one? Chapter 3 Analysis This is a good time to step back from the plot and the text to see how this chapter connects to the book's bigger picture. Themes and Symbols Money and Materialism. Nothing says Roaring 20s excess like the insane party Gatsby throws. In Nick’s description, it’s an explosion of decorations, food, alcohol, music, and anonymous guests who don’t even know the host. This, combined with the over-the-top level of entertainment he provides is jarring even for the wealthy West Egg crowd, and speaks to the materialism and conspicuous display of consumption the novel deplores. It’s interesting that Gatsby orchestrates but doesn’t participate in his extravaganzas – even the guests become display pieces of his wealth as he stands above them and watches. Society and Class. At the same time, we get a sense of the West Egg/East Egg divide as Jordan Baker’s East Egg friends stick together and do not mix with the rest of the guests, regarding them as vulgar and beneath them. Mutability of Identity. The beautifully decorated libraryfilled with books that have never been read speaks to Gatsby’s theatrical approach to crafting his new identity. He can create the trapping and appearance of an Oxford man, but doesn’t have the background or inner resources to actually be one.At the same time, the mystery around Gatsby deepens. We get new theories about his background - he killed a man, he was a German spy during the war, he went to Oxford. And we also see him doing all sorts of inexplicable things – taking business phone calls from Chicago and Philadelphia, telling Jordan something secret and fascinating, not actually partying at his own party. At the same time, we get the first glimpse into the â€Å"great† Gatsby – that dazzling smile that captivates Nick with its empathy and connection. Motifs: Sports.We get our second mention of organized sports in Nick’s brief description of a golf cheating scandal that Jordan was involved with. He chalks it up to her general tendency to lie. Golf is the perfect sport for Jordan to play. It is a game that is highly ordered by social rules and customs, so it fits neatly into her lying MO- she relies on the idea that accusing a woman of cheating is seen as ungentlemanly. Jordan Baker: using the staid rules of the behavior of the upper crust to leverage her golf game, like a boss. Crucial Character Beats Nick and Jordan meet the man with the owl-eyed spectacles (a mysterious and yet somehow important minor figure - later, he will be the only person who will show up to Gatsby’s funeral) who shows them Gatsby’s library of unread books. Like the rest of Gatsby’s life, this library is just window-dressing. We finally meet Gatsby! The title character of the book doesn’t appear until Chapter 3 – and by this point, he’s no longer just a man. He’s a myth and a legend. His actual appearance doesn’t dispel the mystery, but deepens it: why is he getting business phone calls on a weekend? How does a man as young as he is have this kind of money? Why doesn’t he participate in his own party? Why doesn’t Nick describe what he looks like (the way he does every other person in the book)? The owl-spectacles man and his even drunker companion crash a car that they have no idea how to drive. This alarming combination of driving and alcohol is here played for laughs, but is also an important bit of foreshadowing. The foreshadowing is laid on even thicker when Jordan says that as a careless driver, she relies on other people to watch out for her, and Nick points out the danger of two careless people meeting on the road. Present-day Nickinterrupts his story to let us know that the things that he is describing as significant now didn’t appear so at the time. This both shows how much his fascination with Gatsby has grown over time, and makes the novel’s heavy use of foreshadowing all the more significant. Nick and Jordan start dating, and he realizes that she is a compulsive liar. What’s Next? Learn more about what makes Jordan tick in preparation for the next chapter, when she will take over narrator duties for a while. Consider the role the motifs of music, alcohol, and sports play in the novel. Think about how Gatsby’s parties have been portrayed in the movie adaptations of this novel, since these are the scenes that have become iconic in the way Gatsby has seeped into the larger culture. Move on to the summary of Chapter 4, or revisit the summary of Chapter 2. Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

Is the common law fair Essays

Is the common law fair Essays Is the common law fair Essay Is the common law fair Essay Essay Topic: Law From a moral point of view one might say that honest people act in accordance of good faith and fairness. But morals normally originate from religion or culture. The Common Law on the other hand is laissez faire, which means that the law doesnt interfere a lot in legal affairs of businesses. It doesnt sympathise a lot with the nature of good faith and fairness as long as one doesnt misrepresent and deceive or doesnt act unconscionably. Moreover in the case of Walford v. Miles [1992] Lord Ackner states that The concept of a duty to carry on negotiations in good faith is inherently repugnant to the adversarial position of the parties when involved in negotiations. Each party to the negotiations is entitled to pursue his (or her) own interest, so long as he avoids making misrepresentation1 This shows that from the judiciaries point of view the law shouldnt be concerned with good faith and fairness but with negative actions. This is possibly because the common law wants to promote healthy businesses where parties can pursue their interest in their own way but not misrepresent or deceive the other party. Therefore on one hand the common law wants to promote healthy business but at the same time stop people from misleading other people into a contact. The Unfair Terms in Consumer Contracts Regulations 1999 on the other hand implies good faith upon the law. As you can see in Article 5 of the Unfair Terms A contract term which has not been individually negotiated shall be regarded as unfair if, contrary to the requirement of good faith, it causes a significant imbalance in the parties rights and obligations arising under the contract, to the detriment of the consumer2. Therefore since we know that the common law doesnt stress the good faith as much as the Unfair Terms in Consumer Contracts Regulations 1999, I will now move on and asses whether fairness is really necessary and welcome in English Law. Some Lawyers would argue that fairness isnt necessary and welcome at all because it removes the traditional laissez faire businesses culture. In their opinion the Common Law has already tackled the most important issues in contract Law. This is because it had already developed the necessary tools to allow the courts to police contracts adequately. This tools include the Law of misrepresentation, The Unfair contracts term act of 1977, duress and inequality in bargaining power. First I will start of with misrepresentation. In Mckendicks casebook misrepresentation is defined as an unambiguous, false statement of fact or law which is addressed to the party misled, which is material and which induces the contract3 So we can see that in misrepresentation the common law is already providing fairness to the involved parties, to some extent by making sure that a party doesnt argue another party into a contract by misleading them. In the case of Esso Petroleum Ltd v. Mardon [1976], which you can read up in the Mckendrick textbook, Esso offered the defendant to buy a petrol filling station which was still under construction. They also told the defendant that the throughput of the petrol station was likely to reach 200 000 gallons a year. But at the end the local authority refused planning permission for the petrol pumps to front on the main street. Instead the, station had to be built back to front with the forecourt at the back. Esso assured the defendant these changes would not affect the projected throughput of petrol. However the throughput of the petrol that year was only 78000 gallons. The defendant sues Esso for negligent misrepresentation. Now in the court Esso argued that their statement as to throughput was a statement of opinion and not a statement of fact. 4 Esso tried to use the same defence as in Bisset v Wilkinson [1927] where the court decided that the vendors statement was a statement of opinion and not a statement of fact. 5 However the problem Esso faced was that unlike the vendor in Bisset, Esso had more knowledge then the customer had who it induced into the contract. This made the statement of opinion become a fact. This is why the court decision held that Esso did mislead the consumer into the contract. Furthermore in Smith v Land and house property Corporation justice Bowen argued that we can see that the Common Law always provided fairness to the parties, in these cases to the consumers who deserve it. In Bisset the vendor didnt have greater knowledge then the consumer so the statement he made suddenly became an opinion rather than a fact. Therefore one can argue that the contract Law already provides its parties with adequate fairness so a new law wasnt needed. Similarly another doctrine which promotes fairness in common law is that of duress. Duress is when someone threats someone to induce them into a contract. In common law Duress can terminate a contract if one party is threatened by duress to person, goods and financial duress. The common law tries its best to give justice to people who didnt willingly want to enter a contract but were forced to enter one. In the case of Barton v. Armstrong. It was argued that Barton was threatened to be murdered if he wouldnt enter the contract with Armstrong. However the jury decided that because Bartons primary reason for entering the contract wasnt duress but a commercial reason, the court dismissed the appeal of Duress in the court of appeal. However Barton appealed to the Privy council where Per Lord Cross argued that it did not matter that Bartons primary motive in agreeing the deed was commercial- that he may have signed it even if the threats had not been made The case of Barton V Armstrong proves that the common law gives the courts adequate ruling power of a case. As in the previous misrepresentation case the courts were allowed to assess the situation and make their own decision. Clearly we can see that although in Barton V Armstrong Duress wasnt the main reason why Barton entered the contract but duress of person was still in place. In my opinion the court didnt just want to give fairness to Barton in this case but it also wanted to set a bench mark for people who are thinking to use duress to induce people into a contract. Another important doctrine in common law is the doctrine of Consideration. In its very essence consideration means simply something of value received by a promisor from a promisee. It can take the form of a right, interest or benefit accruing to one party, or some forbearance, detriment, loss, or responsibility, given, suffered or undertaken by the other. 6 The doctrine of common law sounds very simple. However the complexity with Consideration really starts in sufficient consideration when someone is doing more then he is obliged under his legal duties. For instance in the case of Stilk v Myrick [1809] a captain promised its 9 men remaining crew the split wages of the two deserters if they would sale back with him to London. However once arrived back in London the captain refused to pay the extra money. In any normal circumstances the claimant would have received the money. However because of a just and proper policy in the case of Harris v Watson which made it clear that a sailor is not entitled to claim any extra wages, which were promised to him at a time when the ship was in danger. Therefore the court decided that the claimant were not entitled of the extra wages. The court came to this decision by looking at various facts. One was that there was no consideration for the extra work before the sailors started their journey. The sailors already agreed that they would do anything they could before the journey to make sure that the ship returns to London safely at any circumstances. However there are still some lawyers doubting the fairness given to the sailors in this case. Surely the sailors worked overtime and had to work more now then they originally planned and now they would have deserved some extra money. Some lawyers even go that far to question the doctrine of Consideration. Some as Professor Atiyah would argue for the case of Harris v Watson proves there is no coherent doctrine of consideration based on reciprocity. He states that : the truth is that the courts have never set out a doctrine of consideration. They have been concerned with the much more practical problem of deciding in the course of litigation whether a particular promise in a particular case should be enforced When the courts found a sufficient reason for enforcing a promise they enforced it;and when they found that for one reason or another is was undesirable to enforce a promise, they did not enforce it 7 All in one we can see that the Common Law pretty much tries its best to give people fairness. The fact that courts are allowed adequately to police contracts is important because in this way they can do their best to provide fairness to people using Law and a bit of good faith. However in the other hand there are also critics of the common law who believe that there need to be a set of rules, which regulates contracts and includes good faith and fairness. One argument is that the replacement of the unfair contract terms act of 1977 was necessary to be replaced by unfair terms in consumer contracts regulations 1999. The main purpose in the regulations of 1999 is to regulate the unfair terms in contract between consumer and seller. The word consumer has a different meaning in UTCCR 1999 and a different in the UCT 1977. If we look at the regulations then consumer means any natural person who, in contract covered by these Regulations, acting for purposes which are outside his trade, business or profession. But if we look at the Unfair terms act of 1977 we will find that it doesnt exclude companies from possible consumers. A consumer here means any natural or legal person who, in contract covered by the regulations, is acting for purposes relating his trade, business or profession, whether publicly owned or privately owned. 8 One can see that the regulations of 1999 are much more protective over the consumer then the common law. Further more if you read Regulation 5 (4) The burden of proof is upon the seller or supplier to show that term has been individually negotiated. 9 The regulations are trying to remove the burden from the supplier theyre not necessarily making the Law fairer for everyone. In a direct comparison to the common Law in my opinion the common Law provided much more fairness because then the judges still had adequate ruling power and could confront the situation much better than the statute can ever do. The UCTA on the other hand is confined with clauses as the exclusion, limitation and indemnity. As mentioned before the Common Law includes some bits of good faith but still doesnt recognize a doctrine of good faith. In this way it stands out from many other states in the world. However with the help of the Regulations of 1999 the English law is becoming more aware of fairness and good faith. However some people again that although Britain never had a doctrine of Good Faith doesnt mean that it needs one now or didnt have important bits to it already. But moreover the Unfair terms in consumer contracts regulation 1999 didnt introduce a doctrine of good faith either. It was never that important before the regulations neither is it now. So one can argue that even tough we have a new law system but we still dont have a doctrine of good faith, which makes some question themselves did we really need the changes from common law to the regulations if the doctrine of good faith hasnt even become a doctrine yet. Maybe the doctrine of good faith will never play an important part in English Law. The English law was never about good faith and fairness, it always promoted a laissez faire business culture. Therefore I think that the Common Law was already in itself a very fair sets of Law which took great emphasis on good faith. The misrepresentation made sure that people werent mislead into a contract but still promoted a healthy business. The doctrine of Duress made sure that none would be forced into signing a contract by threatening them about their life, wealth or goods. Common Law always promoted healthy and fair businesses and not business deals under duress. Consideration is the very basic idea of a business You give me some equally valuable for my goods, which the common law wanted to uphold. The Common Law always tried its best to be fair by not letting people mislead, forcefully induce people to contacts. However on the other hand the regulations of 1999 want to give me more security to consumers. Especially after it includes companies as well to consumers.

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