The Differences in the Presentation of Poverty in...

Welcome to the year 1963. Three years into this decade have proved to be not only influential to the future of our nation but also to serve as a cautionary tale. New technological inventions, major political occurrences, and a more aware society have proved to be very important events. These events in addition to many others will undoubtedly influence our nation in many ways but it seems to be that our nation has lost grip of a crisis much closer to home and much closer to the individual person, this specific person mentioned is the American citizen. Rich, poor, middle class, privileged, etc. are all ways to define oneself in the American Society, but as we reach the end of this decade, will we be able to say we efficiently took care of†¦show more content†¦Harrington’s book would surprise most Americans who are sitting in their new suburban home in front of their new TV. To these members of our nation America appears to be doing completely fine economically and in te rms of social welfare. In the start of his book, Harrington says, â€Å"here is a great mass of people, yet it takes the effort of the intellect and will even to see them† (Harrington 2). According to Harrington’s research, he found that nearly 50,000,000 Americans live in poverty. Not only is this number quite large, but also worrying because these individuals have essentially become invisible to those who are not considered to be living under the poverty line. What Harrington means is that it takes someone who is actually paying attention to this issue in order to fully understand what is truly happening to our society. Harrington calculated our nation’s poverty by figuring the number of Americans who got by with an annual income of less than $3,000. He argued that this data wasn’t hard to come by as it was census data, but the average American who is well off has little to no real reason to ever pay attention to this sort of shocking truth. Our diverse country has beautiful coasts, large cities, and miles and miles of rolling hills in the Midwest. However, part of the problem we are experiencing is the lack of awareness of the isolation certain portions of our country create. The â€Å"Other America† Harrington references exist in the dirty slums of the

Gender Discrimination And The Transgender Community

Men are from Mars, Women are from Venus has become the emblem to defend the idea that biological sex assignments govern what an individual should and must adhere to. How one should dress, speak, express themselves, etc. Dalton Conley explains that gender â€Å"[Is] a collectively defined guidebook that humans use to make distinctions among themselves, to separate one being from another, and to comprehend an otherwise fuzzy mass of individuals.† (279) However, when this â€Å"collectively defined guidebook† is mildly altered, many individuals are confused and respond negatively towards these changes. Transgenders are individuals who identify with a gender that does not correspond with their sex, and so embrace the attributes of the particular gender they identify with. However, gender is a social construction that has allowed many to make sense of the world, it has established social norms, and those who follow it have been granted a sense of superiority against the tran sgender community. Consequently, when someone breaks these gender-based norms they are in many cases treated with no respect and unequally. Discrimination against the transgender community exists in nearly every sector of society, from educational attainment, job attainment, and proper medical attention. Transgenders additionally face difficulties within their families, which are supposed to be the primary source of support. There also continue to be those who are highly opposed to the choices these individuals make,Show MoreRelatedThe Transgender Community Is An Integral Part Of The Lgbt Community1364 Words   |  6 PagesThe transgender community is an integral part of the LGBT community, although there are slight differences. The purpose of this paper is to bring to highlight such differences and discrimination that the transgender community faces. The Merriam Webster’s dictionary defines being transgender as â€Å"of, relating to, or being a person (as a transsexual or transvestite) who identifies with or expresses a gender identity that differs from the one which corresponds to the person s sex at birth.† TypicallyRead MoreInjust and Inhumane Transgender Discrimination Essay examples1590 Words   |  7 Pages Transgender people are no strangers to society: the concept of not feeling comfortable in ones birth-assigned gender has been around since man can remember. Its quite puzzling to see that many centuries later, people still treat transgender people of an alien-like nature, of some sort of non-human species. Transgender people have been discriminated for long enough. The discrimination sent towards them is wrong: theyre just humans who made changes to their lives for the better as all people haveRead MoreGender, Sexual Orientation And Education1746 Words   |  7 Pagesthat revolve around gender, religion, sexual orientation and education. These divides have created an un-opened minded society that judge people and groups based on the prejudices and stereotypes that treat them differently. In the aspect of identity discrimination, American society plays a big role in keeping those that are different isolated from the rest of the world. Today’s society suffers huge from a spectrum that focuses power on discrimination. In this spectrum, transgender individuals are perceivedRead MoreGender Identification : An Exploration Of The Transgender Group1625 Words   |  7 PagesGender Identification: An Exploration of the Transgender Group and Their Relationship in Society Gender identification and expression of transgender individuals has become controversial in America because of lack of knowledge and societal acculturation of this group. As society continues to connect gender identity with sexual identity, those who identify as transgender are forced to conform to the cultural norms of society or choose not to openly portray their gender expression. Although the mediaRead MoreThe, Gender, And Gender Equality974 Words   |  4 PagesTransgender is a relatively new term; it refers to a person that believes that their gender identity doesn’t correspond with his or her biological sex. Doctors diagnosis this uneasy feeling about one’s gender as Gender Dysphoria. Often time’s he or she might undergo sex reassignment surgery to physically become his or her desired gender. Like every other citizen in the United States, transgenders are entitled to a series of rights. However, a transgender’s inconsistency in the presentation bet weenRead MoreTransgender Students Should Be Legal967 Words   |  4 PagesTransgender people are deserving of having the right to use public facilities that correspond with their gender identity instead of being forced to use facilities that match their biological sex, which could put them in danger. There have been many cases of transgender people being denied access to use bathrooms and locker rooms for the gender they identify with, out of worry that they’d make other people occupying said bathrooms and locker rooms uncomfortable. The reactions of other groups of peopleRead MoreGender Is A Complex And Controversial Phenomenon1415 Words   |  6 PagesGender remains a very complex and controversial phenomenon. Within most societies, gender is defined along binary lines- through a two-part system. Some individuals do not find it difficult being socialized and identifying with a societies’ definition of â€Å"femaleness† and â€Å"maleness†. Others, ho wever, have a more difficult time. The term â€Å"transgender† refers to particular individuals whose gender identification does not align with what society would rather regard them as, and are based on the conventionalRead MoreTransgender1370 Words   |  6 Pagesï » ¿ Transgender/Transsexual Olivia Warehime Tarleton State University ABSTRACT A transgender is someone that believes that their gender does not match their anatomy that they were born with. Transgender believes that they’re in someone else’s body. For example someone that was born a male believes he’s a female and vice versa. Keyword: heterosexism, LGBT, Lesbian, Gay, Bisexual, Transgender, Prevention Why are people transgender? ACN, S. (2011, February 27). Health experts believe that beingRead MoreAs Times Are Modernizing The Ideology That One Must Be1369 Words   |  6 Pages1999 there were very few H.R. transgender policies provided by US employers. As the years have gone by and almost twenty years later more and more Human Resource policies are being adopted and implemented in defense of not only those who in the lesbian or gay community, but for those with gender identity and/or expression that differs from that of an individual’s birth-specifically transgender to fight against discrimination and inequality in the workplace. Transgender issues are particularly importantRead MorePolicy Analysis Paper copy1430 Words   |  6 Pagesnation has seen an increased number of transgender students demanding to be included in activities and facilities they have been excluded from in the past. This has introduced a growing number of events that contradict the norms and labels our society has in place regarding gender and sex roles. The very definition of what it means to be female or male is being challenged by this small portion of the population. In their fight for gender autonomy and gender equality in the education field, they

Informtion Systems For HRM in the Organization’s Activities

Question: Discuss about the Informtion Systems For HRM in the Organizations Activities. Answer: Introduction Human resource management is an integral part of any organization for the major role it plays in ensuring successful progress of the employees. Human Resource Management is therefore known to be a devised system that majors on recruiting and providing directions to the employees. As proposed by William (2014), it is arguably responsible for the maximum performance of the workers. However, there are other numerous activities conducted by Human Resource Management in an attempt to maintain high-quality production. These operations include: selecting and hiring employees, strategic planning, and analysis, managing legal issue e.g. company policies employee's rights, performance appraisal, compensation and benefits which include wages and salaries among other activities. To run the above-mentioned operations, it is crucial to make use of modern technological systems that guarantees faster and reliable communication, within the company (Jamali, Dirani, and Harwood, 2015, p.125). The foll owing work takes a close examination of three activities conducted by HRM, and how information systems are incorporated to enhance productivity in the company. Appraising and Rewarding Performance Performance appraisal is one of the major roles carried out by HRM. It relates to evaluating the accomplishments of every individual in the company to determine whether they have underachieved or over performed their set targets. This operation helps the employees work hard to achieve the objectives, failure to which, consequences come in handy. The process is also relevant as it helps decide whether training needs to be effected in a particular employee/s or not and if promotion for a particular employee is needed, which translates to a pay hike (Armstrong and Taylor, 2014, p.128). There are much more significances of performance appraisal. Some of the various methods of carrying out the performance appraisal process include: using assessment centers. Here, the appraisee is taken to a center equipped with all the requirements for the task. After that, he/she is required to carry out the same task they would be expected to perform if promoted. The evaluators are obliged to observe ho w the assignment is being carried out by the appraisee. Key things that maybe evaluated here are; motivation, career orientation, interpersonal and intellectual skills among other capabilities. Behaviorally anchored rating is yet another method of appraising. Here, critical incidences are user to rate the reliability, job knowledge among other qualities portrayed by the worker, regarding; extremely good, good, above average, average or poor. With this information, the Human Resource manager can determine the staff in question. Management by objective (MBO) is yet another method, proposed by Armstrong (2014), where he outlined the advantages of managers having clear objectives which contribute in supporting the process of an individual in higher positions (Noe, Wilk, Mullen, and Wanek, 2014, p.153). The Role of Information Systems within Appraising and Rewarding Employees Performance With modern technology, information systems have played a big role in enhancing performance appraisal. For example, Automated performance management software is a system that makes it simple to set goals, evaluate employees progress and after that give appropriate feedback. Such a system enhances simplicity in making customers reviews. Other importance of information systems includes; linking performance with pay, gear towards goal attainment among others. Recruiting and Hiring Employee Secondly, selecting and hiring of employees is another crucial role carried out under HRM. The process of hiring involves job analysis, recruiting and selection. It is upon this department to ensure that the company has the high working personnel, who push the company to the desired level. The Human resource manager identifies the vacant position, which is the very initial stage, then advertises for applications so as to fill the void. It is worth noting, to avoid over employment in the company, this department must measure the need for hiring, as a way of regulating expenditures through wages and salaries (Marler and Fisher, 2013, p.18). Upon reviewing the position, recruitment takes place immediately. Chances are given to candidates with potential qualities. The requirement for the position must be clearly stipulated, to regulate the number of the applicants, hence making the selection process easy. During selection, proper screening must be done, so as to get highly qualified pers onnel, which impact the organization positively (Wilson, 2014, p.34). Information Systems in Recruiting and Hiring Employees It is worth noting; there are several functions that information systems play in the process of hiring. They help the interviewers settle on the best candidate, by making the selection process simple and accurate. It has been made possible by systems that, e.g., search criminal records of the applicants globally, the genuineness of the academic information provided, among others. Also, Information Systems manages the application process. For example, a much-developed organization only accept application through their official website or any other technological channel as stipulated in the advertisement. This method of receiving applications is convenient as every application is received and reviewed and evaluated with ease, soon after the candidate has applied. The process of evaluation using such systems is easy, as it locks out candidates who havent achieved the minimum qualifications (Gully, Phillips and Kim, 2014, p.162). Offering Training, Development and Orienting Employee to the Specific Posts Finally, Training and development are a core activity carried by HRM. It is the desire of every management to have employees who keep developing their skills, consequently benefiting the company (Tahir, Yousafzai, Jan, and Hashim, 2014, p.86). It is the duty of this division to provide basic training sessions to its employees. These training may be conducted in a seminar, or workshops, either internally r externally or internally. Such training helps in building the present day skills and abilities of the employee, for better outcomes in their production. The development of the worker, on the other hand, focuses on the future responsibilities of the organization (Jamali, Dirani, and Harwood, 2015, p.125). The Role of Information System in Training and Development Information systems have roles in every HRM, in the training of the employees. For instance, specific modules of information system help in managing and generating training calendar, regarding the employees requirement, reflected by his or her performance growth. Progress sheets for the employees are developed by such systems. Notably, these setups also generate the progress and effectiveness of the development programs that have been conducted before. It is achieved when changes are experienced after a particular training session, regarding quality output from the worker. The systems also play a significant role in helping the employees evaluate themselves, note their strengths and weaknesses and thereby making things straight. Compared to personal trainers, Information system software is readily available, convenient and less erroneous (Malln, Chiva, Alegre, and Guinot, 2016, p.463). Conclusion All in a nutshell, HRM ensures that the organization is moving towards the right direction, as far as the workforce is concerned. Without this department, many upheavals are experienced, hence poor production rate. Also, information systems highly benefit any organization, in running the discussed department. Every organization is at this moment advised to embrace beneficial technological systems, which help improve the performance of employees, a step that undoubtedly doubles the production rate. References Armstrong, M. and Taylor, S., 2014.Armstrong's handbook of human resource management practice. Kogan Page Publishers. DeNisi, A. and Smith, C.E., 2014. Performance appraisal, performance management, and firm-level performance: a review, a proposed model, and new directions for future research. Academy of Management Annals ,8 (1), pp.127-179 Gully, S.M., Phillips, J.M. and Kim, M.S., 2014. Strategic Recruitment: A Multilevel (pp. 161-183). The Oxford Handbook of Recruitment. Jamali, D.R., El Dirani, A.M. and Harwood, I.A., 2015. Exploring human resource management roles in corporate social responsibility: the CSR?HRM co?creation model. Business Ethics: A European Review, 24 (2), pp.125-143. Malln, F., Chiva, R., Alegre, J. and Guinot, J., 2016. Organicity and performance in excellent HRM organizations: the importance of organizational learning capability. Review of Managerial Science, 10 (3), pp.463-485 Marler, J.H. and Fisher, S.L., 2013. An evidence-based review of e-HRM and strategic human resource management. Human Resource Management Review, 23 (1), pp.18-36 Noe, R.A., Wilk, S.L., Mullen, E.J. and Wanek, J.E., 2014. Employee Development: Issues in Construct Definition and Investigation of Antecedents. Improving Training Effectiveness in Work Organizations, ed. JK Ford, SWJ Kozlowski, K. Kraiger, E. Salas, and MS Teach out (Mahwah, NJ: Lawrence Erlbaum, 1997), pp.153-189 Tahir, N., Yousafzai, I.K., Jan, S. and Hashim, M., 2014. The Impact of Training and Development on Employees Performance and Productivity A case study of United Bank Limited Peshawar City, KPK, Pakistan. International Journal of Academic Research in Business and Social Sciences, 4 (4), p.86 Wilson, J.P., 2014. International human resource development: Learning, education and training for individuals and organisations. Development and Learning in Organizations , 28 (2).

Multicultural Education In America Essays - Education,

Multicultural Education in America America has long been called "The Melting Pot" due to the fact that it is made up of a varied mix of races, cultures, and ethnicities. As more and more immigrants come to America searching for a better life, the population naturally becomes more diverse. This has, in turn, spun a great debate over multiculturalism. Some of the issues under fire are who is benefiting from the education, and how to present the material in a way so as to offend the least amount of people. There are many variations on these themes as will be discussed later in this paper. In the 1930's several educators called for programs of cultural diversity that encouraged ethnic and minority students to study their respective heritages. This is not a simple feat due to the fact that there is much diversity within individual cultures. A look at a 1990 census shows that the American population has changed more noticeably in the last ten years than in any other time in the twentieth century, with one out of every four Americans identifying themselves as black, Hispanic, Asian, Pacific Islander, or American Indian (Gould 198). The number of foreign born residents also reached an all time high of twenty million, easily passing the 1980 record of fourteen million. Most people, from educators to philosophers, agree that an important first step in successfully joining multiple cultures is to develop an underezding of each others background. However, the similarities stop there. One problem is in defining the term "multiculturalism". When it is looked at simply as meaning the existence of a culturally integrated society, many people have no problems. However, when you go beyond that and try to suggest a different way of arriving at that culturally integrated society, Everyone seems to have a different opinion on what will work. Since education is at the root of the problem, it might be appropriate to use an example in that context. Although the debate at Stanford University ran much deeper than I can hope to touch in this paper, the root of the problem was as follows: In 1980, Stanford University came up with a program - later known as the "Stanford-style multicultural curriculum" which aimed to familiarize students with traditions, philosophy, literature, and history of the West. The program consisted of 15 required books by writers such as Plato, Aristotle, Homer, Aquinas, Marx, and Freud. By 1987, a group called the Rainbow Coalition argued the fact that the books were all written by DWEM's or Dead White European Males. They felt that this type of teaching denied students the knowledge of contributions by people of color, women, and other oppressed groups. In 1987, the faculty voted 39 to 4 to change the curriculum and do away with the fifteen book requirement and the term "Western" for the study of at least one non-European culture and proper attention to be given to the issues of race and gender (Gould 199). This debate was very important because its publicity provided the grounds for the argument that America is a pluralistic society and to study only one people would not accurately portray what really makes up this country. Proponents of multicultural education argue that it offers students a balanced appreciation and critique of other cultures as well as our own (Stotsky 64). While it is common sense that one could not have a true underezding of a subject by only possessing knowledge of one side of it, this brings up the fact that there would never be enough time in our current school year to equally cover the contributions of each individual nationality. This leaves teachers with two options. The first would be to lengthen the school year, which is highly unlikely because of the political aspects of the situation. The other choice is to modify the curriculum to only include what the instructor (or school) feels are the most important contributions, which again leaves them open to criticism from groups that feel they are not being equally treated. A national ezdard is out of the question because of the fact that different parts of the country contain certain concentrations of nationalities. An example of this is the high concentration of Cubans

Issues in Industrial Psychology Essay Example

Issues in Industrial Psychology Essay Industrial psychology, often referred to as industrial-organizational psychology, is the scientific study of the workplace. Industrial psychologists conduct research exploring issues that are critically important in the business world. They often work as independent researchers or business consultants who apply existing knowledge to current problems in the workplace. Industrial-organizational psychology covers dozens of issues relevant to the modern workplace. EMPLOYEE SELECTION AND EVALUATION A main issue of interest to industrial-organizational psychologists is how employers make hiring decisions.Researchers examine the factors that improve an applicants chance of receiving an interview or job offer. They also seek to understand how employers screen applicants and what characteristics or behaviors are viewed negatively during the hiring process. Industrial-organizational psychologists also interested in evaluating employee performance. They may create evaluations of job performance and design incentive programs to improve productivity. Measuring and improving employee efficiency is a major issue in industrial-organizational psychology. TRAINING AND DEVELOPMENTIndustrial-organizational psychologists also implement training programs. How to design a high-quality training program and determining what factors increase information retention are of interest to industrial-organizational psychologists. They also identify areas in which employees could develop skills to improve efficiency and become a stronger asset for the company. SATISFACTION IN THE WORKPLACE A large field of interest to many businesses is increasing job satisfaction. Industrial-organizational psychologists research the characteristics of a workplace that lead to greater happiness and employee morale.Workers with high job satisfaction are more efficient and likely to stay with a company. Many businesses are keenly interested in maintaining worker satisfaction to prevent the considerable costs of re hiring and training new workers. Industrial-organizational psychologists identify ways in which employees achieve work-life balance and design programs to improve job satisfaction and address employees concerns. HURDLES IN INDUSTRIAL PSYCHOLOGY A) Conflicts Between Psychology B) Communication Hurdles C) Resistance To Change amp; Modifications

Dementia Essays - Cognitive Disorders, Dementia, Free Essays

Dementia Essays - Cognitive Disorders, Dementia, Free Essays Dementia What is Dementia? Dementia is an organic brain syndrome which results in global cognitive impairments. Dementia can occur as a result of a variety of neurological diseases. Some of the more well known dementing diseases include Alzheimer's disease (AD), multi-infarct dementia (MID), and Huntington's disease (HD). Throughout this essay the emphasis will be placed on AD (also known as dementia of the Alzheimer's type, and primary degenerative dementia), because statistically it is the most significant dementing disease occurring in over 50% of demented patients (see epidemiology). The clinical picture in dementia is very similar to delirium, except for the course. Delirium is an acute transitory disorder. By contrast Dementia is a long term progressive disorder (with the exception of the reversible dementias). The course of AD can range anywhere from 1.5 to 15 years with an average of about 8.1 years (Terry , 1988). AD is usually divided into three stages mild, moderate, and severe. Throughout these stages a specific sequence of cognitive deterioration is observed (Lezak, 1993). The mild stage begins with memory, attention, speed dependent activities, and abstract reasoning dysfunction. Also mild language impairments begin to surface. In the moderate stage, language deficits such as aphasia and apraxia become prominent. Dysfluency, paraphasias, and bizzare word combinations are common midstage speech defects. In the severe stage the patient is gradually reduced to a vegetative state. Speech becomes nonfluent, repetitive, and largely non-communicative. Auditory comprehension is exceedingly limited, with many patients displaying partial or complete mutism. Late in the course of the disease many neuropsychological functions can no longer be measured. Also primitive reflexes such as grasp and suck emerge. Death usually results from a disease such as pneumonia which overwhelms the limited vegetative functions of the patient. Dementia is commonly differentiated along two dimensions: age and cortical level. The first dimension, age, distinguishes between senile and presenile dementia. Senile dementia is used to describe patients who become demented after the age of 65, whereas presenile dementia applies to patients who become demented prior to that age. Late onset AD (LOAD) also known as senile dementia Alzheimer's type (SDAT) is the predominant cause of senile dementia. Early onset AD (EOAD) is the most frequent cause of presenile dementia, but HD, Pick's disease and Creutzfeldt-Jakob disease though not as frequent are also important causes in presenile dementia. The second dimension, cortical level, differentiates between cortical and subcortical dementia. Cortical dementia is used to describe dementia which results from brain lesions at the cortical level, whereas subcortical dementia describes dementia resulting from subcortical brain lesions. AD and Pick's disease are the best known examples of cortical dementia; whereas HD, Parkinson's disease (PD), and progressive supranuclear palsy (PSP) are good examples of subcortical dementia (Mayke, 1994). Dementia with both cortical and subcortical features is also possible, in that case the term mixed dementia is used. MID is a common example of mixed dementia. Historical developments in dementia Pre-Modern Developments The use of the term dementia dates back to Roman times. The Latin word demens did not originally have the specific connotation that it does today. It meant 'being out of one's mind' and, as such, was a general term for insanity (Pitt, 1987). It was the encylopedist Celsus who first used the word dementia in his De re medicina, published around AD 30. A century later the Cappadocian physician Aretaeus first described senile dementia with the word dotage (i.e., "The dotage which is the calamity of old age...dotage commencing with old age never intermits, but accompanies the patient until death."). Curiously, dementia was mentioned in most systems of psychiatric classification throughout pre-modern times, though the precise meaning of the word is often unclear (Pitt, 1987). Nineteenth Century It can be argued that the origins of the scientific study of dementia date back to the early nineteenth century. The initial steps were undertaken by the great French psychiatrist Pinel at the beginning of that century. Pinel's observations led him to the conclusion that the term dementia should be applied in relation to the "progressive mental changes seen in some idiots" (Pitt,3). Furthermore, Pinel thought that dementia was a distinct abnormal entity, and thus he used the term dementia to designate one of the five classes of mental derangement. However, by applying the term dementia

Zinc and Vitamin D Essay Example | Topics and Well Written Essays - 250 words

Zinc and Vitamin D - Essay Example Both of them have their own important functions which are necessary for the survival of the body. Zinc is a metallic element which is an essential product required by our body. It is present in some foods naturally alongwith certain drug supplements which contain the essential element. It is quite important in the metabolic functions of the body as it helps in improving the activity of the enzymes in the body. It is an important element for people who are undergoing growth for example children and pregnant women. It also helps in improving the immune functions of the body. The animal sources of Zinc are red meat, poultry and shellfish whereas the plant sources of Zinc are grains, nuts, seeds, legumes and rice. I think that i am getting enough of the element because my diet contains red meat and nuts almost on a daily basis. Vitamin D is also known as cholecalciferol in medical terminology. It is a fat soluble vitamin which is necessary for the absorption of calcium from the gut. Vita min D plays an important function in maintaining the calcium and phosphorus level in the blood. It is also important in preventing diseases like rickets and osteoporosis. I need the nutrient so i can balance my intake of calcium and strengthen my bones with the right deposition of calcium. Vitamin D can be found in dairy products of cheese, butter, fortified milk and cream. It is also found in fish, cereals and margarine. I think that i get enough of Vitamin D as my daily diet contains of margarine and milk. References Guyton, Arthur C, and John E. Hall.  Textbook of Medical Physiology. Philadelphia: Elsevier Saunders, 2006. Internet resource.

Culture industries Essay Example | Topics and Well Written Essays - 1500 words

Culture industries - Essay Example These are also sometimes known as creative industries. Generally it includes textual, music, television, and film production and publishing, as well as crafts and design. They are knowledge based and labour-intensive industries, and created employment and wealth. By nurturing creativity and fostering innovation, they help the societies to maintain cultural diversity and enhance economic performance. For some countries, architecture, the visual and performing arts, sport, advertising, and cultural tourism may be included as adding value to the content and generating values for individuals and societies (Hesmondhalgh, 2007). All activities which have been eligible for public funding is consider as ‘art’. The division between ‘art’ and ‘commerce’ is ideological and not analytical. The classical music world, though in receipt of enormous public subsidy, cannot be considered deeply commercial. Similarly, though aiming to ‘make it’ at some point, calling struggling pop musicians ‘commercial’ is to misunderstand a lot of what they do. The distributions of funds in these two areas are different. One relies on ‘the market’, and the other on a bureaucratic system of attributing value, and thus money. According to Hesmondhalgh (2007), the last few years have seen a boom in interest in the idea of ‘the cultural industries’ in academic and policy-making circles. In government cultural policy, this boom has been apparent at the international, national and local level. These are concerned fundamentally with the management and selling of a particular kind of work. Since the Romantic movement of the 19th century, there has been a widespread tendency to think of art as the highest form of human creativity. Both Sociologists and Marxists have argued that artistic work is not so different from other kinds of labour, as they say

Fasibility on Generic Pharmacy Essay Example for Free

Fasibility on Generic Pharmacy Essay INTRODUCTION According to http://en.Wikipedia.org/wiki/Pharmacy DRUGSTORE is a common American term for a type of store centrally featuring a pharmacy. Drugstores sell not only branded and generic medicines, but also miscellaneous items such as candy, cosmetics, and magazines, as well as light refreshments. During the height of the war on drugs, many stores removed the term Drugstore from their signage and replaced it with the more politically correct term Pharmacy. A PHARMACY is the health profession that links the health sciences with the chemical sciences and it is charged with ensuring the safe and effective use of pharmaceutical drugs. The scope of pharmacy practice includes more traditional roles such as compounding and dispensing medications, and it also includes more modern services related to health care, including clinical services, reviewing medications for safety and efficacy, and providing drug information. From http://en.Wikipedia.org/wiki/Drugstore A GENERIC DRUG is a drug defined as a drug product that is comparable to brand/reference listed drug product in dosage form, strength, route of administration, quality and performance characteristics, and intended use. It has also been defined as a term referring to any drug marketed under its chemical name without advertising. Although they may not be associated with a particular company, generic drugs are subject to the regulations of the governments of countries where they are dispensed. Generic drugs are labeled with the name of the manufacturer and the adopted name (non-proprietary name) of the drug. A generic drug must contain the same active ingredients as the original formulation. http://en.Wikipedia.org/wiki/Generic_Drug BRAND-NAME DRUG a drug that has a trade name and is protected by a patent (can be produced and sold only by the company holding the patent). http://audioenglish.net/dictionary/brand-name_drug A DRUG is a substance which may have medicinal, intoxicating, performance enhancing or other effects when taken or put into a human body or the body of another animal and is not considered a food or exclusively a food. http://en.Wikipedia.org/wiki/Drug In addition to being operated as a private business and selling affordable medicines, our pharmacy are also catering free services such as free medical consultations and check-ups. We are willing to help our fellow Filipinos by giving discount in their medicines especially in terms of calamities like those people who is flood victims and typhoon, our pharmacy is willing also to give substantial discounts to those who would like to buy medicines for donation purposes. In recent years, people demanded for cheaper medicines because of the change in the quality of living. At the same time the generic medicines industry is growing through the years and there are provisions that supports the selling of generic drugs in the Philippines which is R.A. #6675 which is an act to promote, require and ensure the production of an adequate supply, distribution, use and acceptance of drugs and medicines identified by their generic names. Our business proposal is a generic pharmacy. 1.1 COMPANY DESCRIPTION The proponents, Ms Asio, Charis Ann, Ms. David Divine Grace, Ms. Garay, Rosalie, Ms. Llanza, Buengie, Ms. Manto, Noreen and Mr. Montallana, Reynaldo will manage and supervise the entire operation of the Medicure Generic Pharmacy, an unlimited liability company. The proponents combined efforts in the creation of Medicure Generic Pharmacy have serve to come up with detailed plan that encompass the important elements required to succeed in today’s competitive pharmacy environment. In closing, we feel the business plan for Medicure Generic Pharmacy represents a realistic expectation of success for all parties involved. Moreover, we will be providing a benefit to the community by providing a great product and secure jobs to community residents. LOCATION The proponents decided to place the pharmacy in the corner of Jalleville Subdivision along Quirino Avenue San Dionisio Paranaque City based upon the facts that all potential pharmacy locations is far from the Our Lady of Peace Hospital. Our propose location are located in closest to hospital and also it is in the corner which many Barangay’s are located. It is also along in the Quirino Avenue which is most of the passengers and car owners from Las Pinas, Pasay and Paranaque City are pointing this road. CAPITALIZATION Establishing a Generic Pharmacy apparently needs capitalization. In approximation, the proposed business will cost P 1,390,000.00. The 65% of capital will be funded by the proponents and the remaining 35% are loan from the bank. Charis Ann AsioDavid Divine Grace| Php 150,583.33 150,583.33| Garay Rosalie| 150,583.33| Llanza Buengie| 150,583.33| Manto Noreen| 150,583.33| Montallana Reynaldo| 150,583.33| Capital ContributionBank LoanTotal Capital Investment| 903,500.00 486,500.00 Php 1,390,000.00| START-UP SUMMARY The Medicure Generic Pharmacy will incur the following needed start-up cost. * Office Furniture’s and Fixtures * Chairs * File cabinets * Desks * Machineries and Equipments * Computer server with a laser printer, and a back up system, installed with software; Microsoft Office, QuickBooks pro, drug interaction software, Physician Desk, Reference Software detailing side effects and other information pertinent to the customers * Two front counter, storage bins, cash registers * Refrigerators * Air-condition * Store Supplies * Envelopes * Ribbons * Bond papers * Ball pens * Tape * Staples and stapler * Trays * Plastic bags etc. * Store front build out * Signage * Logos * Paints etc. * Lease * Star-up inventory * Generic medicines * Miscellaneous items * Working capital * Contingency fund * Legal fees * * BIR * SEC * MAYORS PERMIT * BUSINESS PERMIT * MERALCO * NAWASA BREAKDOWN OF START-UP COST Office furniture’s fixtures Php 160,000.00 Machineries Equipments160,000.00 Store Supplies 50,000.00 Store Build Out200,000.00 Start-Up Inventory450,000.00 Legal Fees 70,000.00 - Working Capital300,000.00 Total Capital RequirementPhp1, 390,000.00 VICINITY MAP Medicure Generic Pharmacy 1.2 BUSINESS CONCEPT MISSION †¢ To offer the widest range of quality affordable generic medicines putting customer satisfaction above all by serving our clients’ needs efficiently, effectively, providing friendly and professional counseling. †¢ To recognize the importance of our employees in achieving our aspirations, and to keep them highly motivated based on the principles of fair compensation, meritocracy and respect. †¢ To educate the public about quality generic medicines and to provide various community services to fulfill our social responsibilities to our countrymen. VISION THE MEDICURE GENERIC PHARMACY aims to be the leading national chain of drugstores offering quality and affordable generic medicines with superior customer service that will satisfy the customers need. VALUES * Integrity We will commit to truth and honesty in what we say and do, and practice high standards of fairness and ethics at work and in our relationships. * Customer Satisfaction We will serve and interact with our internal and external customers as best as we can, in a professional and friendly manner. We constantly look for innovative products and services that will answer their needs. * Excellence We will aim high in everything we do and continuously seek to improve our level of performance. * Team work We will communicate and cooperate with one another, working together in an harmonious way to achieve the company’s goals. * Respect for the Individual We will show respect, appreciation and concern for every person. We engage in positive relationships based on mutual trust. * Social Purpose We will do believe that it is our responsibility to help the community and our countrymen. We recognize that the nature of our business, especially the corporate focus on quality affordable generic medicines, gives us a unique opportunity to make a very positive contribution to the health of the communities that we serve. TAGLINE Mabisang Gamot at Serbisyong Maaasahan GOAL The Medicure Generic Pharmacy long term goal is to become the number 1 generic drugstore in the Philippines offering a very effective and efficient customer service and having a strong sense of social purpose. HISTORY The proponents come up with an idea of putting up a Generic Pharmacy catering to customers when some of the proponents made a research in one of our major subjects which was Marketing Research. The research was entitled The Perception of the Consumer on the Effectiveness of Generic Medicines in a selected Barangay in Paranaque City. This completes its essence of the outcome of the research and will serve as a basis for future studies on business. We also agreed to come up with a business that was related to our research as mentioned which is a Generic Pharmacy. Since we already have the idea that this kind of business will have a chance in the market due to the needs of the consumers of affordable quality medicines. Since we are Business Administration students major in Marketing Management we are applying all what we have learned. The propose name of our business would be Medicure Generic Pharmacy. â€Å"Medi† is a short word of medicine and â€Å"Cure† means recovery or relief from a disease. We decided to have this catchy for an easy retention to our clients or customers. VENTURE DESCRIPTION The proposed establishment is a generic pharmacy named Medicure Generic Pharmacy. We will be able to sell generic drug prescriptions at reduced prices by carefully maintaining efficiencies and effective operations and by targeting a specific segment of the market or with over the counter and prescribed medication to our customer. Aside from catering generic medicines, we will be able to sell miscellaneous items such as cosmetics, tissues, toothbrush, candy, magazines, as well as light refreshment and etc. We believe that providing over†the†counter (OTC) medications that compliment prescription and miscellaneous items can create a â€Å"one†stop†shop† for the customer. For employees, a more comprehensive line of front†end and over the counter items that consist of items that may be needed during the work day such as tissues, toothbrush can create an added customer convenience. In both instances, providing non†prescription items can eliminate the need for the customer to travel to other settings that offer prescription services. When considering non†prescription items for product placement, durable medical equipment (DME) should also be considered for resell. By focusing on this segment it gives us additional efficiencies we avoid disruptions in cash flow often associated with insurance payments and we can eliminate unnecessary services for the type of knowledgeable, repeat customer taking maintenance-type medication. Our pharmacy will operate from one store that will serve walk-in customers or those persons visited personally and buying over the counter. We will thrive by employing friendly and knowledgeable personnel, which, along with our great prices, will drive the repeat business that we will rely upon. We only expect that as the price of medication continues to skyrocket, the pharmacy will appeal more and more to the customers sense of value and convenience. Concept Description and Statement The Medicure Generic Pharmacy is a business venture that sells generic medicine to customers prescribed medication. We sell also miscellaneous items such as candies, cosmetics, toiletries, baby care products and medical or surgical products to customers for a one-stop-shop experience. We believe that in selling other merchandise assortments except for a generic medicine will serve convenience to our target customer. Our propose location is in the corner of Jalleville Subdivision along Quirino Avenue San Dionisio Paranaque City with a lot area of 25m long and 20m wide. It consists of two (2) POS, shelves, waiting area with seats, parking lot, fire extinguisher in case of emergency and a room for employees with one (1) comfort room. We put three (3) computers with systems including the price per quantity item. This will help the customer to canvass the price for their prescribe medication and other items by asking a pharmacist. We put a storage area where we can store our new delivered products. The pharmacy is fully air conditioned to maintain the quality of our products especially medicines. We hire people to man the pharmacy in a day to day operation. It consists of a one (1) General Manager, Supervisor, Registered Pharmacist, and three (3) Pharmacy Assistant. The Medicure Generic Pharmacy anticipates serving continuously from seven (8) o’clock in the morning up to nine (9) in the evening everyday from Mondays to Sundays. The expected table of operation are as follows.

IPO Pricing: Underwriter and Litigation Risk Impact

IPO Pricing: Underwriter and Litigation Risk Impact Going to public fund is one of the strategies to company to getting additional fund. Before that, company must publish their share to bursa Malaysia before invite the public to buying their share. But for unlisted company they cannot simply publish their share to public and they must be listed in bursa Malaysia first. With that they must publish their prospectus when the first time they want to issue share to public and this is we called Initial Public Offering (first time going to public). Background In Malaysia history of IPO are begin when Malaysia stock market was establish as the Malaysian stock exchange in 1960. 1n 1973 the Kuala Lumpur Stock Exchange Berhad (KLSEB) and Singapore Stock Exchange (SES) are begin to replace the Malaysia Stock Exchange. In that time number of company that issuing IPO is not more to 500 companies. From 1973 until 2007 the IPO trend is showing quickly publish. In 1973 the number of listed company only 262 and up until 2007, Malaysia stock market have 1028 company. This rapid increase in the number of new listings is attributed to a number of factors, mainly to raise financing for expansion, to reduce the cost of new funds and to reduce the level of leverage (Shamsher et al., 1994). In 1980, the market valuation in Bursa Malaysia is about RM43 billion and reach to a trillion ringgit in year 2007. It happen when many companies are started to going public fund. Apart from that in year 1991 to 2003 the individual retailers have constituted more than 85% of the market player in bursa Malaysia IPO. Compared to the individual retailers group, the institutional investors group is reporting a smaller average at 2.05%. The remaining 6.47% of the market participants is consisting of others. From the 1984 to the 1995 the newly issue of IPO on the main board on KLSE is 173 company. Similar like that, when certain company wants to issuing the IPO, they are requiring by law to allocate 30% for Bumiputra investor. The main objective is to ensure the Bumiputra has own shareholding at least 33% on the entire market share. The pricing of IPO in Malaysia are regulated by Security Commission (SC) and it only take place when ministry of Trade and Finance (MITI) and Foreign Investment Committee (FIC) have giving their consent to the listing. It means the SC has make valuation on company in term of company financial statement and performance to evaluate whether certain company is really valuable to publish on the bursa Malaysia. One of the differential and unique IPO in Malaysia is, major of shareholder and the promoting bank (underwriter) have the choice to provide the profit guarantee not less than 90% on forecast profit on prospectus. Another way, the prospectus of company must be publish in Bahasa or English language and it must submitted to MITI, FIC and SC and the first trading is about in 12 month. The company, is not to seek approval the right issue from the SC during the 12 month they are listing, because actually the time between companies submit prospectus date to the SC for approval right issue to start trading is about 6 month. Recent reforms in Government Linked Companies (GLCs) are expected to improve performance and encourage private investment. More than 40 GLCs are listed, comprising less than 10% of Malaysias GDP. Changes in management, adoption of performance based contracts for management and implementation of key performance indicators (KPIs) are some of the reform that has been underway since April-May 2004. Merger and Aquistion (MA) actively declined in volume terms, due to a lack of very large transaction. Nonetheless, the number of MA transactions has remained stable over the past two years. Singapores Temasek Holdings acquired large minatory positions in Malaysia banking and plantations companies. In the automotive industry, Chery Automotive, a Chinese assembler has announced plans to earmark Malaysia as their regional distribution hub, while Proton reached a deal to assemble Volkswagen Cars and distribute them in Southeast Asia. Proton, Sime Darby and Telecom Malaysia have all announced acquisitions of foreign companies too. 1.2 Problem Statement Initial public offering (IPO) one of the manners to company get additional fund thru equity funding, when certain company wants to increase their operation, but it not sufficient fund of borrowing they can officially going to public fund primary market (when first time company going to public). In other words, this IPO tend use by small growth firm to increase their capital and to issuing new capital. This company must be perfectly evaluating certain cost, i.e. cost of underwriting, attorney fee, cost of management time allocation to the lawsuit, reputation cost and so on. All of these cost potentially become liability for a small company in the first time they issue IPO. The first problems of the research are to identify about the underwriter effect on IPO. Apart from underwriter, second areas on this research will looks on information of the companies, information also can become higher cost for issuer, they will incur cost to encourage information generation prior to the IPO and after the IPO because issuer want giving good impression to customer about their company. But for customer, cost will be incurred when they want searching strong information about certain company profile. Basically, IPO will be determining by investment bank and IPO firm managements to setting up IPO price (offer price spread). This to make comparison, between company offer price (company determine IPO price) and what actual price should be offer by company. On top of that, potential litigation costs are quite significant for firms that have recently gone public. Attorney fees, the costs of management time allocated to the lawsuit, reputation costs, and settlement costs represent an enormous potential liability for a young firm. The last areas we will look on relation between risk and IPO in an aspect of the litigation-risk, where the firms with higher litigation risk will affect their IPO? 1.3 Approach of the Study In research we have two methods, firstly we have quantitative and second the qualitative (Gubra and Lincon, 1994). In our research the quantitative method will be chosen with the purpose of this study because it able to value observation, precise measurement, statistical analysis, data collection is fix/cannot manipulate, variable truth and the most important is the hallmark good quantitative research are reliability and validity of data collection. After data are already collected it will be need to be edited, then data have to be coded and lastly data have to be key in and software programmed used to analyze the data. After data has been analyzed, we can make interpretation to getting conclusion about our research and make recommendation or suggestion to make improvement to Malaysia IPO. The final result also can be use for investor to do decision making about the attraction investment for them. 1.4 Scope of Study The scope of our research is consisting all company listed during 2000 until 2008 in Bursa Malaysia, whereby compasses 8 years in areas of to identity whether the Underwriter, Litigation and Prospectus will influence company pricing of IPO. CHAPTER 2 LITERATURE REVIEW This chapter we examine those factors generally considered to impact IPO performance to assess the extent to offering price is likely to be set and in setting the offering price. It is organized into two sections. The first section presents the historical of IPO and second section given the capital structure, secondary market return, litigation and prospectus in effected the IPO pricing. 2.1 Initial Public Offering Malaysia law define sale of expand authorize share of a company as new issue and the offer of share from the existing shareholder to the public is define as sale of share. The new issue market therefore consists of new issue and the sale of share of private company and government linked company to the public. Regulator approves new issue with elaborate care to ensure public interest is safeguard and the approval process may take up to a year in a large placement. Offering new issue to outsider help to raise finance for expansion and to obtain less costly source of new fund. Some research has been done by Fama 1984, company that listed in the New York market raise capital at a lower cost, the having from which amount to three quarter of one percent compare to unlisted company. Apart from that the investor has purchase of share listed in the secondary market obtain nominal yield, with are lower on average than in the new issue market. This extra return in a new issue market is the insider value factor which make offer price lower thus giving a high return. The over subscription of new issue keep feeding the frenzy for new issue. One study has suggest that the over subscription rate in Malaysia average 46 time (Dawson 1987, Yong 1991). Similar like that the new issues are price by the market at a much higher level than would be the case if (a) the new issue was equally like to be issue in bull or bear market and (b) there is no frenzy in wanting to subscribe to new issue. Because of the frenzy in the new market issue, there is practice pressure during the initial few month, which keep the price artificially high during this early period after listing. At the same thing, one would expect the price in the new issue market to attain normal level after the initi al few month when normal price unfettered by price pressure begin to emerge. For another part the new issue are substantially underprice in the Australian, UK, USA and the developed market. It similar behavior found in Malaysia because the offer price appears to be a deep discount of the initial day for market price. But the extent of underpricing is smaller in the developed market than in the developing market. The research finding on the IPO in the some developed country such as Australia, UK, USA and developing market such as Korea, Malaysia Singapore and other suggest an apparent underpricing of new issue because offer price appear to be a large discount off the initial listing day market prices. Considered again the long run share market return report in all these country, and the reward rate of those allocation new issue are substantially higher than normal rate of return in the secondary market of these country. Therefore, new issue should provide higher reward, which is the source of underpricing. apart from that the investment bankers try to reduce the offer risk and cost of underwriting by underpricing the issue. The present evidence of underpricing may also be due to the uncertainty about the real value of share and the related need to offer compensation to the investor for assuming the risk of the uncertainty. But for recent research has been done (Arif, Prasad, Shamsher and Annu ar 1994) contradict this widely disseminated explanation. Share appears to be issue at their intrinsic value but then price are bid up by an optimistic investment market, which wrongly interpret demand pressure as understanding. While Ross (1984) explain the underpricing of IPO using the idea of information asymmetry between informed and unimformed investor. He suggest that the asymmetry of information between the issuer and their investment banker is less relevant for pricing. 2.2 IPO and Secondary Market Returns Bradley et al (2009) examined IPO secondary market returns on the first day of trading during 1993-2003, and findings important things. First, there are open to close return are much larger than previously documented and potentially exploitable. It was averaging over 2% during the sample period. Second, we found that the market does not reach an equilibrium price until approximately 2 h into trading. Although this average is driven upwards by IPOs during bubble period. Third is that effect is persistent over the entire sample period, considered where they consider several non-mutually exclusive explanations, such as: price support by the lead underwriter, laddering, retail sentiment, and information asymmetry. They also examined the impact of retail sentiment on secondary markets return and found there were a strong positive relationship between the proportion of small trades and open to close returns consistent with the view that retail demand and sentiment can push IPO prices higher. But this argument assumes that these overoptimistic retail investors would ultimately experience a reversal. They also argue that information asymmetry can be in the form of aggregate demand uncertainty, which is unlikely to be resolved until the IPO opens for secondary market trading. 2.3 Company Capital Structure Basically firm has two source of fund, firstly they can use from internal fund and second for external fund. For internal fund they can use additional retain earning and also additional equity of shareholder and for external fund it can be use loan from financial institution and primary debt issue in the debt market. The capital structure theory is inconclusive about which factor determine borrowing level, expect providing the general idea that a firm ability to identify positive net present value investment should determine capital need, and further that a firm capital structure quality also determine the tax shield value from debt. Modigliani and Miller (1958) argue that the capital is not influence by a firm financing mix under the assumption that the capital market is perfect and there is no corporate tax. Average cost of capital will be lowering when market is imperfection and it increase value of the firm subsequent to borrowing. But for (Robicheck and Myer 1966, Hamada 1972) the firm financial risk will be increase when company has make decision to continuously borrowing. For another part if company is have extra debt, the shareholder risk will be higher. It happens because if these companies are going to bankruptcy, the first company obligation action is paying all their debt first. For (Gupta 1982) before company achieves maximum debt, the maximum value of the firm will always be reach first. Company has made decision going to public because they want to increase fund to run the business in big scale. For (Gordon 1990) examined the relationship between a firm financing structure and the company technology. His result has supported the idea that firm with high capital to labor ratio acquire financing to run it business. 2.4 IPO and Litigation risk In our study on litigation, Skinner (1994) finds that the threat of litigation potentially alters firms disclosure behavior, and Krishnan and Krishnan (1997) and Shu (2000) find that this same threat causes auditors to stay away from risky clients. We extend this line of research by documenting another effect of litigation risk, it leads IPO firms to lower their offer price as one form of insurance against future litigation. Tinic (1988) tests the litigation-risk hypothesis by comparing the IPOs prior to and subsequent to the 1933 Securities Act, which substantially increased the legal exposure of IPO issues. Alexander (1991) examines 17 computer-related IPOs in 1983. She finds that securities lawsuits were more likely filed when the dollar amount of the ex post stock price decline was sufficient to support the fixed cost of bringing a case. She also finds little variation among the settlements as a fraction of shareholder losses. Further, consistent with the deterrence effect of IPO, there is evidence that firms that engage in more IPO significantly lower their litigation risks, especially for lawsuits occurring closer to the IPO dates. After controlling for the endogeneity of initial returns and lawsuit probability, both the insurance and deterrence aspects of the litigation-risk. The simultaneous-equation framework used in this study is potentially useful for other settings. 2.5 IPO and Prospectus Information The process of taking a firm public enables firms owners to realize both personal and professional goals. Taking the firm public, for example, enables entrepreneurs who have invested considerable time and resources in building the firm to sell a portion of the firm, thereby providing personal funds as a reward for their efforts and enabling them to diversify their wealth (Rock, 1986). Moreover, the IPO helps entrepreneurs secure funding that allows them to pursue growth opportunities for the firm. As the firm grows, entrepreneurs may find themselves unable to secure increasing capital requirements to fund firm growth. Also, entrepreneurs may seek to avoid covenant-filled commercial loans that hinder their ability to take the risks necessary to pursue firm growth opportunities (Rock, 1986). Investment bankers are responsible for coordinating the stock offering for the IPO firms managers (Benviste and Spindt, 1989). They provide an invaluable source of guidance for IPO firm entrepreneurs and managers, most of whom will have had no prior experience with the complex, often lengthy, process of taking the firm public. In addition to facilitating the IPO process by counseling firms entrepreneurs and managers, investment bankers assume primary responsibility for effectively marketing the firms securities to the investment community. The investment bankers determine the offer price spread, which must be disclosed either in the preliminary prospectus or shortly after filing the registration statement in an amended prospectus. The actual offer price is not determined until the day prior to the stocks offering. This spread and offer price are of central importance to the entrepreneurs taking the firm public, as they determine the amount of funds the IPO firms owners can expect to raise as a function of the stock offering. Given their centrality in the IPO process, it is important to understand those factors that may assist investment bankers in their initial determination of the spread within which they believe the final offer price will be set and, subsequently, the final offer price. The price spread may provide an indication of the level of uncertainty surrounding the IPO. Uncertainty in the IPO context derives largely from the fact that the firm, while it may have an extensive operating history, has not previously operated under public scrutiny. CHAPTER 3 METHODOLOGY This chapter are consist and will be discuss about the purpose of the study, population of study, data collection, independent variable, dependent variable, research modeling and the lastly the data analysis. 3.1 Population of Study The population of our research is consisting all company IPO from 2000 until 2008. We also want to identity whether the Underwriter, Litigation and Prospectus situation will influence the investor to make the investment and how they react to company announcement of IPO in the good economic situation. On top of that, we might look on about company performance before and after the 1997 Malaysia financial crisis on the areas of our study. 3.2 Data Collection To investigate the new IPO issue since 2000 until 2008, which had all the require information for analysis on our research. The public record in various issue of investor digest, daily diary and the company files from Securities Commission (SC) and Bursa Malaysia (BM) were accessed to obtain value for the variable. On top of that, requests for IPO prospectuses were sent to all firms undertaking IPOs in 2000 and 2008 as identified by the SC. 3.3 Independent Variables We rely on three independent variables for hypothesis testing, the first is the Prospectus Information. Founder CEO is a dichotomous variable with zero being a nonfounder CEO and one a founder CEO. CEO retained equity is calculated as the percentage of the IPO firms stock that the CEO will hold following the opening day of trading. These data are reported in the prospectus filing. Board composition is measured as the percentage of independent outside directors serving on the board. Board size is measured as the total number of directors serving on the IPO firms board. Second independent variable is Litigation Risk, as argued earlier, a firm about to make an IPO faces a trade-off in its pricing decisions. A higher offer price increases proceeds from the IPO, but it also raises the expected litigation costs. Two predictions emerge concerning the cross-sectional relations between IPO and inherent litigation risks. First, firms with higher litigation risk purchase more insurance, that is, they their shares by a greater amount (the insurance effect). Second, firms who choose higher levels of insurance incur lower expected litigation costs in the form of reduced probabilities of lawsuits. The third part is underwriting. The underwriter is playing to influence the public confidence about the company. If the company IPO is not over subscribe, the underwriter will be help that company to resell the IPO and maybe buying the IPO behalf of the company. When the company first time to setting the IPO price, it to hart to determine the suitable price because lack of expertise. The simple way to company is making negotiate with the underwriter. The issuer and underwriter is lock to the offer price regardless of the subscription of the market movement. Basically inside the underwriter agreement it conclude the underwritten fee, amount and whether the issue will indemnify the underwriter again all liability, cost and expence incur by the underwriter in relationship to the issue. 3.4 Dependent Variables This variable is computed as the difference between the high and low values in the range of offer prices established by the investment bankers. We calculate this measure as the (stock price at the time of IPO the firms book value)/stock price at the time of IPO. This price reflects the price at which the firms stock will be sold to initial investors on the opening day of trading. A firm litigation risk is also increasing in the volatility of the stock. One way to obtain the expected volatility is to use the standard deviation of prior stock returns. However, this is not feasible for IPO firms. Another alternative is to use the standard deviation of post-IPO returns. However, this is not observable prior to the IPO and may not be in the managers information set at the time of the offering. For (Smith, 1991 and Raghavat 1996) the company that issue the new security in public need the investment banking to become their underwriter in return for a commission comprise management fee, underwriting fee and the lastly the selling concession. The compny also must carefully choose their investment banker to become their underwriter, because the good of underwriter will be able this company increase their IPO price (negotiation and discussion between bank and company). One of the criteria is the underwriter must know the company industry, tern of propose offering, potential conflict of interest relating to the investment banker affiliation with the issuer competitor and the ability to the company provide research support after the offering price. 3.5 Research Modeling DEPENDENT VARIABLE INDEPENDENT VARIABLE Prospectus Information Initial Public Offering Litigation Risk Underwriter E(à ¯?†¢i) = ÃŽÂ ²1 + ÃŽÂ ²2X2 + ÃŽÂ ²3X3 + ÃŽÂ ²Ãƒ ¢Ã¢â‚¬Å¡Ã¢â‚¬Å¾Xà ¢Ã¢â‚¬Å¡Ã¢â‚¬Å¾ + à ¯? ­i. ÃŽÂ ²1 = Intercept, value of à ¯?†¢I when X2, X3, X4, equal to zero (0). ÃŽÂ ²2 = Changing in à ¯?†¢i when X2 change with assumption X3, X4, is constant. ÃŽÂ ²3 = Changing in à ¯?†¢i when X3 change with assumption X2, X4, is constant. ÃŽÂ ²4 = Changing in à ¯?†¢i when X4 change with assumption X2, X3, is constant. X2 = Prospectus information X3 = Underwriter X4 = Litigation risk à ¯? ­i = Yi error in population. The hypotheses are stated below: H0 = 0, mean has no significant relationship. H1 à ¢Ã¢â‚¬ °Ã‚   0, mean has significant relationship. Prospectus information H0 = Prospectus information does not significant relationship to IPO H1 = Prospectus information has significant relationship to IPO Underwriter H0 = Underwriter does not significant relationship to IPO H1 = Underwriter has significant relationship to IPO Litigation risk H0 = Litigation risk does not significant relationship to IPO H1 = Litigation risk has significant relationship to IPO 3.6. Data Analysis The final stage of our methodology is data analysis. When the data already run we will elaborate on the various statistical test and make interpretation of the result. To analysis our research we use SPSS for window software. The data was analyse to identify, examine, compare and interpreted theme and pattern. The analysis has been started after the collection of all the necessary data basically come from secondary data collection. Use of this SPSS software is illustrated which mainly because they are easily available in business settings. In data analyses, we have three objectives, firstly getting a feel for the data, second testing the goodness of the data and lastly testing the hypotheses developed for the research.

Privacy in the Workplace Essay

There are specific laws that protect consumers as well as employees in the workplace. Many of these laws relate to others. Laws, such as, FERPA, SOX, CIPA, and COPPA also grant rights to individuals under the First Amendment. Family Educational Rights and Privacy Act (FERPA) protects a child’s student records from being viewed without parental consent. It gives parents access to their child’s education records, an opportunity to seek to have the records amended, and some control over the disclosure of information from the records. When the child becomes 18 years old, the parents are no longer obligated to have rights to access the child’s personal records. Children’s Internet Protection Act (CIPA) is also engineered to the protection of children. Children are to be protected physically and mentally while in the care of school professionals. Schools must have policies in place protecting children from accessing harmful or obscene content over the internet. This law requires that K-12 schools and libraries in the United States use Internet filters and implement other measures to protect children from harmful online content as a condition for federal funding. The Child Online Protection Act (COPPA) applies to the online collection of personal information by persons or entities under U.S. jurisdiction from children under 13 years of age. It details what a website operator must include in a privacy policy, when and how to seek verifiable consent from a parent or guardian, and what responsibilities an operator has to protect children’s privacy and safety online including restrictions on the marketing to those under 13. While children under 13 can legally give out personal information with their parents’ permission, many websites disallow underage  children from using their services altogether due to the amount of cash and work involved in the law compliance. Sarbanes–Oxley (SOX) set new or enhanced standards for all U.S. public company boards, management and public accounting firms. The sections of the bill cover responsibilities of a public corporation’s board of directors, adds criminal penalties for certain misconduct, and required the Securities and Exchange Commission to create regulations to define how public corporations are to comply with the law.

Literature and Journalism Essay

American Heritage Dictionary of English Language Fourth Edition. New York Houghton 2009. American Heritage New Dictionary of Cultural Literacy Third edition New York Houghton Mifflin Co. 2006 Glencoe Literature; The Readers Choice Columbus Glencoe/McGraw-Hill 2003 Hudson,W. H An Introduction to the Study of Literature. Harrap 1963 Ousby, I. Cambridge Guide to Literature in English Cambridge Cambridge University Press 1996. Hornsby, A. S. Oxford Advanced Learners Dictionary of Current English. OUP 2005 MASENO UNIVERSITY FACULTY : ARTS AND SOCIAL SCIENCES. DEPARTMENT : LINGUISTICS, LANGUAGES AND LITERATURE UNIT CODE: ALI 805 UNIT TITLE: LITERATURE AND JOURNALISM TASK: Difference between Literature and Journalism PRESENTED BY: JULIE E. OGONYA REG. NO. : PG/MA/063/2009 PRESENTED TO: DR, KITCHE MAGAK DATE: NOVEMBER, 2009. MASENO INTRODUCTION Literature and journalism are two genres that are interrelated and intertwined because literature borrows heavily from journalism and journalism borrows heavily from literature as well. Sometimes it gets problematic distinguishing literature from journalism, more so with the emergence of narrative journalism. According to Oxford Advanced Learners Dictionary, literature refers to pieces of writing that are valued as works of art, especially novels, plays and poems (in contrast to technical books and newspapers, magazines, etc. ). The same dictionary defines journalism as the work of collecting and writing news stories for newspapers, magazines, radio or television. In this paper, an attempt is going to be made to show the differences between literature and journalism. Differences between Literature and Journalism. The difference between literature and journalism can be seen from the definitions of the two genres where literature is defined as â€Å"pieces of writing that are valued as works of art†. Art refers to â€Å"the use of imagination to express ideas or feelings† (Hornby, 2005). The key word is imagination. This means that in literature, language is used creatively with a lot of imagination in expressing ideas. Literature has been described as a mirror of the society and it reflects the happenings in that society. The reflections more often than not depend on the type of the mirror, whether concave or convex. Consequently, literature can distort reality. Journalism, â€Å"the work of collecting and writing news stories for newspapers, magazines, radio or television†, on the other hand, is a picture of the society. What we see is what we get since journalism is reportage. Mikkel Hivid has provided some guidelines on the difference between journalism and literature. In this paper most of the differences used will be from a paper he presented entitled Fiction, Facts and Storytelling and Roy Peter Clarke’s essay : Between Fact and Fiction: Navigating Treacherorous Waters. First, Hvid says that â€Å"the difference between literature and journalism is characterized by more than just the difference between fact and fiction. The two genres have different expressions, different criteria for the truth and relevance and different priorities. Journalism must be true but writers of fiction are allowed to lie†. In literature, the diction is characterized by the use of literary techniques like imagery, personification, irony, juxtaposition, sarcasm, similes and so on. These are used to make the message being communicated to be brought out more effectively. The language or expressions used will depend on the writer’s attitude towards the subject with which he will attempt to influence the reader; if he hates the subject, he will be sarcastic and the words he uses will be sarcastic or derogatory. This unflattering choice of words is likely to influence the reader to develop a negative attitude towards a subject too. For example, in Achebe’s book The Trouble with Nigeria, he is strongly convinced that the main problem with the country is poor leadership. He uses very emotive words. He says; The trouble with Nigeria is simply and squarely a failure of leadership. There is nothing basically wrong with the Nigerian character. There is nothing wrong with the Nigerian land or climate or water or air or anything else. He uses literary techniques like alliteration (simply and squarely), and repetition of the word wrong to create emphasis. Clarke says that literature and journalism have different criteria for the truth. The ethics of journalism indicate that the main distinction between literature and journalism is based on the contents. Journalists must present facts- whether they are using the genre of narrative journalism or any other journalistic genre. Journalists are required to research their stories (Hvid, 2000). Journalism must be true whereas writers of literature are allowed to lie. What the journalist writes must be true in the sense that it can be documented by reference to a named source or actual circumstances. For instance what Barrack Obama wrote in Dreams from My Father is true and can be documented. It is a story about his life; the places and even people mentioned in the book are real. Fiction writers invent and make up stories. Literature does not have to be true to any outside reality, Hvid adds. In literature, the setting, characters, events and action are all in the writer’s imagination in as much as they may reflect reality. Sometimes the setting and characters can be out of this world, for example in stories of fantasy that involves the mention of the supernatural as well as in science fiction. Journalists must research their stories. Writers of fiction are allowed to add, invent and construct their own worlds. In his essay, Roy Peter Clarke lists a range of ethical demands on the narrative journalist. You cannot add anything to your story which was not present in reality. This is because only the truth should be told in journalism. He adds that you cannot write different scenes into one, and you are not allowed to merge a number of real characters into one. You must respect the timing of real events. This is in line with the 5ws of journalism of who, what, where, why, when and how. All these must come out distinctly because journalism is fact and not fiction. In fiction, a character or a thing can be an archetype. There can only be one scene of an incident and hence cannot be written into one. He says that finally there is the ethical demand which is perhaps the most important even if it sounds mainly as a kind of request: you must strive to provide as honest and correct an account of the reality of the reality you describe as possible. Literary texts can be interpreted in a number of different ways. This is because when different readers read a text, their understanding is not the same and sometimes the writer’s intention may be missed. For instance, in Jonathan Swift’s essay: A Modest Proposal, the writer, did not intend his proposal of rearing babies for food to be taken literally. Some of his readers were very outraged at the idea of infanticide and cannibalism. Literature as a body consists of three main components (literary history): 1) A body of knowledge 2) A system of investigation 3) A collection of skills and techniques. It also consists of four main aspects 1) Creativity 2) Practical criticism 3) Literary history 4) Literary theory. There are different theories used to interpret literature. These components and theories are used by literary analysts to interpret literary texts. In journalism, the text does not necessarily require such effort in interpretation. A message in journalism quite often appears in the first paragraph of the text where the journalist makes the logical conclusion. The message is direct with no room for interpretation. Literature and journalism have different ideas about their readers about their readers and what you can demand from them. Journalism presents readers with a complete package they can immediately relate to. For instance, a newspaper headlines simply stating: Jealous Man Murders Wife and Lover in Drunken Rage. This does not require any knowledge of literary criticism and  theory to understand that drunken jealous men can easily murder their wives. Literature readers, on the other hand, have to interpret and analyse the text to find what it means for them. This is sometimes a next to impossible task as some literary texts abound in symbolism and very abstract ideas that are too difficult to decipher. In journalism it is unacceptable to present readers with such a dilemma as readers have a right to demand a clear message. Relevance of the text is another area of difference in literature and journalism as there are different criteria used to determine relevance in the two genres. We read literature to experience other worlds, lives and people. For example, David Yallop’s book In God’s Name is an eye opener into the intrigues of the Catholic Church and how a pope was murdered because he was a threat to some bishops who were perpetrators of a lot of evil in the church. The relevance of that text comes in when we examine it we find that the murder of Pope really concerned the people at that particular time in history and even to date. We read literature to experience other worlds, lives, and people. We mirror our own lives in those of the characters we meet in literature. Plato said that literature is a moral force and so the characters in literature with which we compare our own experiences help in building our character since as we compare our own experiences to theirs we gain greater insights into our own lives through what we call experience by. We love the character who is our hero and when that character suffers, we suffer with him and when he triumphs over evil, we celebrate his victory. Every character or happening helps us learn about our own lives. The text is true when it is true and meaningful to us. Truth and relevance are decided in the meeting between the reader and the text In journalism, we do not read texts in order to mirror our lives with those we read about. The characters do not necessarily help us learn about our own lives. Sometimes there are no main character with which we identify with. Truth is a condition of journalism and the article must be relevant. Its relevance is seen when it teaches the readers something new and important about the world they live in. When we read a literary text, we become part of the story; we take sides, laud or condemn a particular character. In other words, we read literature for experience. As Aristotle recommended, literature provides the reader with a cathartic effect. After experiencing literature, there is purgation of dangerous emotions. On the other hand, we read journalism to take something out of it. This is why journalistic articles are â€Å"news†. We get information from journalism. In literature, stories comprise of two main elements; background and action. There is use of description of background that is spiced up with action. In journalism, storytelling is told with three strands. These are background, action and facts as a mandatory component. The journalist may add anecdotes to make his story interesting but the most important ingredient is fact. Lastly, there is the use of what has been referred to as the frame and the content. Creative techniques are used on the frame of the story or in the introduction that leads into the main story whilst the story itself is presented as summary or direct quotes. Barrack Obama’s Dreams from my Father is a typical example of a work where this is used. This is sometimes referred to as the inverted pyramid . Conclusion In this paper, the differences between Literature and Journalism have been discussed. It has been realized that the differences between literature and journalism arise because of many factors like fact or fiction, reality and probability, the relationship between the reader and the text, the roles of journalism and literature and so on. Whereas the two genres are infact different, the reality is that there is a possibility of te two complimenting and supplementing each other since literature borrows from journalism and journalism borrows from literature and this results in a rich mix.

14 Things You Should Never Say at Work

14 Things You Should Never Say at Work No matter how smart you are- or think you are- or how well you’re doing in your career, it’s always possible to make sure you’re not doing anything to sabotage yourself. There are a ton of little things you can do to fine-tune your conversation skills- eliminating corporate clichà ©s, getting rid of less-than-confident-sounding filler, and limiting your use of negative words. Here are a few words and phrases to weed out of your conversation in the office, for your own success.1. â€Å"Just†Ã¢â‚¬Å"I just wanted to†¦ † â€Å"I was just†¦ † â€Å"I just thought†¦Ã¢â‚¬  These are all basically code for â€Å"I’m sorry to bother you.† You’re not bothering anyone; you’re contributing. You’re doing your job. You’re probably delivering something necessary to a coworker. Start to notice how often you throw â€Å"just† as if trying to ask permission. Be less meek!2. â€Å"Unfair†N othing is fair. Even if you’re stating the obvious truth, stay quiet. You’ll only sound negative and immature. Stay constructive and keep your head above the fray.3. â€Å"Sorry†Especially â€Å"sorry, but†¦Ã¢â‚¬  Don’t apologize for asking for things, for taking up space, or for having ideas. Especially when you’re not actually sorry.4. â€Å"This is how it’s always been done.†Congratulations, you sound lazy and resistant to change. Like an old dog that can’t learn new and innovative tricks. Keep an open mind to new ways of doing things and better ideas.5. â€Å"I’m no expert, but†¦ †Women so often preface everything they say with this kind of qualifying phrase. You want to avoid sounding pushy or arrogant, but it’s just silly. Own your ideas. Just don’t be pushy or arrogant, and you’ll be fine.6. â€Å"This is a stupid question/silly idea†¦Ã¢â‚¬ You’re immediately s etting yourself up to look like you don’t belong at the big kids’ table. There are no stupid questions, not really. And sometimes silly ideas are the ones that turn a company around. Think before you speak, but don’t qualify what you say as trivial before you’ve even said it.7. â€Å"I’ll try.†Yoda perhaps said it best. â€Å"Do or do not. There is no try.†8. â€Å"It’s not my fault.†Even if this is true, you sound like you can’t take responsibility for anything. Roll your sleeves up and get your hands dirty trying to come up with a solution, rather than shirking blame.9. â€Å"I can’t.†If you were your boss, what would you think hearing that? That you’re unwilling to give it your best effort?10. â€Å"I hate this job.†I mean, really. You should know not to let this one slip already. Even in jest.11. â€Å"Like†Try to avoid talking like a valley girl (or like Shoshanna on HBOâ₠¬â„¢s Girls). Try to keep stupid filler words out of your sentences and avoid the supremely annoying speech tic that is â€Å"vocal fry.† If you’re an up talker? That’s always raising your pitch? At the end of every sentence? Try training yourself to read aloud lowering your arm every time you reach a period.12. 🙂   You don’t need to use emoji to express cheerfulness or camaraderie at work. That’s for your friends. Keep the cutesy and the capslock and the exclamation points for your iMessages and leave your work words unadorned.13. â€Å"Does that make sense?†It probably did before you asked. Don’t second guess yourself mid-explanation. That will only lead your coworkers to second guess you too.14. â€Å"You look tired.†Never tell anyone this, no matter how true it is. They’ll just feel awful about themselves. And you’ll look like a jerk.

April Fools Day Quotes

April Fools Day Quotes William Shakespeare famously said, Better a witty fool than a foolish wit. On  April Fools Day, showcase your wit and humor with these quotes. If you are a prankster, play a harmless prank, and tease your friends. If you are not a prankster, beware of those who are. Mark Twain, Puddnhead Wilson April 1. This is the day upon which we are reminded of what we are on the other three hundred and sixty-four. Plato Even the gods love jokes. George Orwell The aim of a joke is not to degrade the human being, but to remind him that he is already degraded. Will Rogers The trouble with practical jokes is that very often they get elected. Myra Cohn Livingston The maple syrups full of ants.A mouse is creeping on the shelf.Is that a spider on your back?I ate the whole pie by myself.The kitchen sink just overflowed.A flash flood washed away the school.I threw your blanket in the trash.I never lie- I- April Fool! Charles Lamb Here cometh April again, and as far as I can see the world hath more fools in it than ever. Poor Robins Almanac, 1790 The first of April, some do sayIs set apart for All Fools Day;But why the people call it soNor I, nor they themselves, do know,But on this day are people sentOn purpose for pure merriment. Thomas Shadwell The haste of a fool is the slowest thing in the world. Arabian Proverb A fool may be known by six things: anger without cause; speech without profit; change without progress; inquiry without object; putting trust in a stranger; and mistaking foes for friends. Horace Mix a little foolishness with your prudence: Its good to be silly at the right moment.

Wind and Solar Energy Essay Example | Topics and Well Written Essays - 250 words

Wind and Solar Energy - Essay Example Hence, they both need a storage mechanism to store the excess power obtained when the wind and the sun are available. Usually, the storage mechanism is a battery system, like the lithium-ion batteries. Nevertheless, differences exist between these two energy sources. Availability of the two power sources brings about a difference between them. The difference is that, solar power is only available during the day. On the other hand, wind power can be available throughout the day for as long as he wind is blowing. The methods of obtaining the two also differs in that; wind power is obtained mechanically with the aid of turbines while solar power is obtained through solar panels that convert sunlight to electricity. The differences and similarities given show that, renewable energy is feasible and it can be used to build green economies worldwide. It provides man with diverse means to obtain energy. The two renewable energy sources complement each other and can be used to provide energy in diverse weather

Sources of Finance for SMEs in UK and US Essay Example | Topics and Well Written Essays - 1000 words

Sources of Finance for SMEs in UK and US - Essay Example Thus the sizes, related industry, year of operating and organizational forms are the most important factors that determine the finance sources for a SME (Rutherford, Oswald, n.p, 1999) and most of the SMEs get finance through their internal funds like the starting capital of the owner, loan arranged by the owner of SME and the retained earning. However along with these internal sources the SME get external debts from the financial institution also and this credit help the SMEs in financing their different business operations. The main sources of finance for the SMEs of UK are identified in the survey conducted by Federation of Small Businesses (FSB) in 2004. According to the figures provided by FSB, SMEs do use more then one source to finance their business. 50.8% of the SMEs in UK use the bank drafts to finance their business, 30. 6% used personal savings, 29.5% use bank loans, 28.5% use retained profits and 25.5% use credit cards debts to finance their business (Carter et al, p14, 2004). The report of FSB further disclosed that leasing and factoring are not commonly used by the SMEs for getting credits to finance the business. The new SMEs mostly depend on personal saving and credit cards whereas the older SMEs depend more on supplier's credit. On the other hand, the survey conducted by SmallBusinessFinances(SSBF)of America in 1998 discloses the main sources of credit for SMEs in United States. The report discloses that there are 80 percent of US SMEs that used to take some kind of credit from differen t sources. 34% of the SMEs in US get credit to finance their business from business credit cards, 46% use personal credit cards, and 28% use credit line whereas 21 percent use vehicle loans. Financial institutions are also important source of credit and there are 38% of the SMEs that use to get credit from commercial banks and 13.3% SMEs take loans from finance companies. The report shows that the smaller size firms have little access to the banks and financial institution as compared with developed and big SMEs (Watson, p35, 1993) The credit availability to SMEs for financing is surrounded by an important issue of lending technologies. There are five major lending technologies used by the financial institutions and banks to provide credit to SMEs for financing their business operation. In UK and US the SMEs get loans from different financial institutions through different lending technologies among them the relationship lending and transaction based lending are the most important types (Thorsten and Demirguc, p2931, 2006). The commercial banks in UK and US mostly find it more profitable to provide credits to the SMEs through relationship lending as they got shelter ageists price competition by using this lending technology. (Allen, Udell, p2931, 2006) however this trend is more common among the UK banks and the banks in US like to provide credit to SMEs through transaction based lending as they get high interest rates and there is poor risk rating for this type of credit lending. In UK when the SMEs failed to get credit from banks and other financial institu

Car Safety Term Paper Example | Topics and Well Written Essays - 2000 words

Car Safety - Term Paper Example This paper will discuss a number of aspects of engineering and construction related to car safety such as car design, assembly, and equipment that eradicate or diminish car accidents. The History of Car Safety Car safety might have become a concern almost from the start of mechanized road vehicle expansion. The second artillery tractor that was powered by steam was produced by a Nicolas-Joseph Cugnot in the year 1771 and is described by some individuals to have crashed into a barricade through its demonstration run. On the other hand, Georges Ageon claims that the earliest declaration of this incident dates from the year1801, and it cannot be traced in any present-day accounts. The utilization of seat belts and cushion dashboards was advocated for in the year 1934, which led to the formation of the Automobile Safety League of America. The same year, GM undertook the initial barrier crash experiment. A number of experiments and addition of a number of items in the car through the year 1940 to date has developed the car design, assembly, and equipment for the eradication or reduction of car accidents (Hamer 156). Safety did not develop into a promotion point for novel cars until the late years of the 1980s, but it is without doubt now. There has been augmented public understanding of the relative efficiency of safety features within diverse models, which has been elevated by the prologue of self-sufficient crash tests, principally the New Car Assessment Program (NCAP), which is a global crash test establishment in which the NRMA, as well as other groupings are members. While noteworthy legislation, for example, the blood alcohol restrictions practice for driving has taken part in playing a key role in dropping road crash injury as well as deaths. However, to date, the seat belt is the development which has saved many human beings than any other (Jain 187). Active and Passive Car Safety Active safety refers to technology that supports in the avoidance of a crash w hile passive safety is a technology that supports in the avoidance of a crash to mechanisms of the vehicle such as airbags, seatbelts, as well as the physical construction of the car, which can aid in the protection of occupants when a crash occurs (Crandall, Bhalla & Madeley 234). Crash Evasion Systems Crash evasion systems and pieces of equipment assist the driver as well as the car itself to evade a crash. Cars are outfitted with a selection of lights as well as reflectors to mark their existence, position, distance across, length, and bearing of travel to put across the driver's intention and measures to other drivers. Crash evasion systems include the car's headlamp, which some have headlights that rotate with the obverse wheels of a car, revealing the pathway around a curve. Other evasion systems include front and back position lamps, turn warning signs, brake or stop lamps, repealing lamps, side marker lights, suspension systems, cars’ mirror, as well as reflectors. Dr iver Assistance Systems A division of crash evasion is driver support systems, which aid the driver to become aware of obstacles that are concealed and to manage the car. Driver support systems consist of mechanical braking systems that put a stop to or lessen the rigorousness of a crash. They utilize long and short array radar, to function efficiently at whichever