Risks And Uncertainty In Entering New Markets Finance Essay - Free Essay Example

Sample details Pages: 7 Words: 2105 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? No one can deny that expand the business activity and entering new market as much as having new market for its resources is valid to survive This decision face obstacle which has variety of importance levels, some of them are reach a level of risks and other stay at uncertainty level and have to be considered in order not to reach the higher risk level The word uncertainty means that a number of different values can exist for a quantity and risk means the possibility of loss or gain as a result of uncertainties. In this report we will discuss the case of risk and uncertainty in Syrian case . Don’t waste time! Our writers will create an original "Risks And Uncertainty In Entering New Markets Finance Essay" essay for you Create order Risks: Whenever a purchase or sale is made there is a level of risk this risk can be progress from uncertainty to high risk; in order to fully study the type of risk and uncertainty influence on the international business we have to categorize it according to area of impacting here we will discuss those ideas according the following arrangement: Systematic Risk which include the political Economical and Exchange Risk in general and in Syrian market in specific Market risk which discuss Specific Risk Also in this essay we will discuss the Uncertainty and how we can manage it in order not to revert to risks after discussing the type and the different it and the risks. Systematic Risks: Political Risk: Political decisions can impact on many vital areas for business such as the education of the workforce, the health of the nation and the quality of the infrastructure of the economy It is imperative to evaluate the potential level of risk by using several different approaches and techniques, these approaches fall into several general and common categories: Systemic risk: It is Risks faced by investors as a result from shifts in public policy. New political leadership may adopt policies that differ from its predecessors. For example, Syrian released new regulation at the beginning of 2010 the new role assume that each Commercial Invoice not legalized form the Syrian Embassy of the exporter country is not trustworthy; therefore each exporter to Syrian market has to get a document from the Syrian embassy to certify that the Commercial Invoice value and information of this goods is authoritative; this new procedures badly affect any transaction related to export to Syria be cause not all embassies infrastructure is good enough to arrange all that type of legalization and documents (the size of work are related to the exporting volume to Syria from that country the most confusing situation was in Syrian embassy in China) which mean that the goods has to be wait at the port of discharge or the port of lading according to the type of goods, which mean increase the cost of demerge for goods in boards as well as the discrepancy of banks if the exporter choose the Letter of Credit as a payment term, fortunately this new regulation life period was short and they stop work on it after one month which create another confusing for international trade. A very uncertain political and economic outlook and a business environment with many troublesome weaknesses can have a significant impact on corporate payment behavior. Corporate default probability is high. Procedural risks: Political intervention in procedures to apply specific policy this policy can affect the economy in general. it Created by one movement of people, products and funds that move from point to point in the global market between the units involved, whether units of a company or units of a country. This situation appeared in Syria in the middle of 2006 when the government decides to switch from the Oriented Economy System to Social Market Economy The question arise here how it can affect the purchase or sale internationally and how it affect the companies which decide to login the Syrian market? In fact this policy shifts can create opportunities for some of foreign investors and some local investor as well, since the government apply a lot of facilities and low taxes for specific sectors like trade and tourism on the other hand it will badly affect the other economy sector such as the industries, agriculture and welfare. On the other hand the documentary risk is the main reason behind slow or non-payment in the international trade most of problem is related to the document incorrectly preparation, this document is required to complete the transaction, Cross-border transactions involve many documents, yet just one missing document or a discrepancy in a document can stop a payment temporarily or permanently, for example in the Syrian regulation information and stamps mentioned on the Commercial invoice has to match the one on the Certificate of Origin in case of producer and goods description while the Bill of Lading information has to match the information on the Certificate of Origin in case of carton number, weight and the H.S. CodeÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ etc. Some of the more common document problems are caused by Letters of Credit, some information dont match the open LC condition like the date of shipments and the port of lading nameÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ etc. Certifications such as certificates of origin, the information on it dont include the H.S. Code and other information required in host country custo ms. Customs documents: like real packing list or any specific document required according to country policy (in Syria if CI dont bear the paragraph which certify that this goods dont have any Israeli material of labor activity may stop the declaration procedures according the Syrian problems with Israel) Transportation documents, BL may not bear the H.S. code or the consignee party doesnt match the name of registered name of the company which receives the documents. Most important set of documents in Syria is Certificate of Origin, Commercial Invoice, and Bill of Lading, those documents may not have the same priority in other countries according to that country laws. Recently most countries start use the digital world features to facilitate preparing these documents, specially CO and other type of Certificates such as Health Certificate and Certificate of analysis for certain type of goods. Any mismatch between this information will increase the cost of declaration, dela y the payment and may stop the import procedures in all. It is important to pay more attention to the Procedural risks since the custom and monetary system is Syria is not flexible and have a lot of penalties in case of any mistake in the documents caused by the distrust between government and trader, however the procedural risk can be avoided by dealing with local commentator agency which moderate this kind of risks. Distributive risk: Distributive political risk reflects revisions in such items as tax codes, regulatory structure, and monetary policy imposed by governments in order to capture greater benefits from the activities of foreign firms. The new world system in this case is to use the H.S. Code to categorized the goods type and apply the tax accordingly that in case of trade as import and export; another case is to invest in a foreign country the dynamic of distributive political risk is creeping expropriation, a gradual elimination of foreign companys local prope rty rights. As the business grows more successful, officials may question whether they are receiving their fairÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬-share of the growing profits. Most of foreign investor in Syrian market has a good condition and medium tax rate comparing with neighbor countries but they cant own the land they work on it, but usually the corporate financing information often not available and when available usually unreadable Debt collection is unpredictable. The institutional framework has many troublesome weaknesses. Intercompany transactions run major risks in the difficult environments rated C according to COFAC the company who is specialised export credit insurance, managing its own products and State guarantees for French exports. Catastrophic risk: Catastrophic political risk includes those random political developments that adversely affect the operations of all firms in a country; this type of risk can devastate companies and countries as well. It includes political developments that adversely affect the operations of every company in a country, recently civil disorder has appeared which make troubles the trade in general that affect the . POINT-COUNTERPOINT: Political Risk Management POINT- ACTIVE POLITICAL RISK MANAGEMENT: Active political risk management reasons that if one measures the right set of discrete events, one should be able to calculate the degree of political risk in a country and estimate the likelihood that politically risky disruptions, will occur (e.g., civil strife, terrorism, regime change, ethnic tensions, contract repudiation, financial controls, transaction risks). In Syria case the political risk can be predicted since the scene political policy is same since last decade and sharply changes are improbable for the next decades if the catastrophic problem which starts recently become controllable by government so the other risk will be acceptable and can be managed easily. COUNTERPOINT- PASSIVE POLITICAL RISK MANAGEMENT: Many firms choose to treat political risk as an unpredictable hazard of international business. They adopt a strategic response by find a cost-effective way to minimize the risks like purchasing insurance for each of its operational activities which mean increase the cost of establishing of lunching the new market Economical Risk Economical risk can sometimes be forecast but is often completely out of the control in both the buyer or seller sides. Purchasing transaction insurance is essential for a buyer to minimize economic risk. In order to fully analysis the economical risk we will have a deep look at the Syrian Macro Economy act by analysis the following points: exchange rates Foreign exchange risk occurs when the rate of exchange between the sellers currency and the buyers currency changes dramatically between the time the order is quoted and the time the final payment is received, usually this risk appear when the political policy is not clear, in Syria the political policy stability add more stability to the exchange rate and add more trust to foreign investor. Trade Burden size CAD/GDP 2009: According to the World Bank data we can calculate the following: CAD/GDP= -1.1% it is greater than -2% and that a good indicator for low risk Debt service ratio 2009: Relates the cost of repaying foreign debt to the amount being earned by exports. It can be calculated as following: DSR= Total Dept Service/ Export X Total Export/ Export Goods Services DSR= 3.1 X 11,817/18,351= 1.996 It is less than 20% which is very good indicator for low risk Import Reserve Ratio 2009: To analysis how country can compensate its imports we will calculate the IRR IRR= Reserves / Total imports X12 IRR =6512 / 16121 X12 = 4.85 months since it is more than 3 it consider good After years of autarky, Syria still hardly open to the world, but this policy protect it from the bad effects of the economy crises 2009 and we can realize the booming in the real estate sector, also the oil production of country support the currency and government policy, the government facility for foreign investors as much as the availability of raw material and great location of Syria make the investment in the agriculture and transportation is good choice. CAD/GDP, DSR and IRR ratio is n ot the right indicator to evaluate any economy but it can advise us a background of general image of that country economy. POINT-COUNTERPOINT: Economical Risk Management POINT- ACTIVE ECONOMIC RISK MANAGEMENT: some company prefer to consider the Economical Risk management as part of market analysis research which mean that each result will be accompany with other evidence and can have a good research result as a result to have the right decision. COUNTERPOINT- PASSIVE ECONOMIC RISK MANAGEMENT: consider the Economic Risk analysis as a first indicator can give you a first sight at the target market and according to the result some companies prefer to precede the market research, but those companies have to draw more attention that considering the Economical risk analysis alone as a first step will let company loss a lot of good opportunities because usually the greater economy in the worlds can have high risk in some points such as CAD/GDP which has high risk in USA but it still have the best FDI chance since they support the FDI by good facilities offered to foreign investor. Specific Risk: Which also can called Market risk Choose the wrong industry? Choose the wrong positioning? Different types of Strategy.. Corporate Business Who is responsible for what? Uncertainty: https://www.wikinvest.com/stock/International_Business_Machines_%28IBM%29/Market_Risk https://wikieducator.org/Introduction_to_Political_and_Economic_Risk https://globaledge.msu.edu/countries/syria/risk/ https://www.coface.com/CofacePortal/COM_en_EN/pages/home/risks_home/country_risks/country_file/Syria?extraUid=572216

Cognitive, Social And Personality Changes - 1011 Words

Introduction The persistent personal characteristics that are revealed in a particular pattern of behavior in different situation are known as personality. This paper will explore the cognitive, social and personality changes that occur when a person is 24 years old. One of the major issues in cognitive development has been â€Å"nature and nurture†, i.e. if cognitive development is mainly determined by an individual’s innate qualities (â€Å"nature†), or by their personal experiences (â€Å"nurture†). First, the age is characterized by physical changes because it is the period when adolescents are almost becoming adults. Therefore, the age is a transition period from adolescence to adulthood. The person undergoes cognitive development whereby he tries to understand his real identity and becomes more sociable than before. Moreover, the personality of an individual is subject to the person’s need to be recognized and appreciated. Subject introduction The person used, in this case, is Odili Samalu. He is 24 years old. He is a male teenager, and is in his first year in college. I chose the person because of his manifest changes in development, including physique, cognitive and motor development. Additionally, Odili has changed the style of doing his tasks. In this regard, he has changed the walking style, voice, and he already has beards. Additionally, Odili is a representation of a typical teenager in a transition period to adulthood. Another reason for selecting this subject is that heShow MoreRelatedExpectancy Theory And Social Cognitive Theory Essay1190 Words   |  5 PagesMotivation Theories: Expectancy Theory in Practice and Social Cognitive Theory Expectancy theory in practice In Expectancy theory we focus on the mental processes when considering choice, or choosing. It clarifies what an individual feel while making choices. In the study of organizational behavior, we can see that expectancy theory is a motivation theory, it tells us that employees who are sure in their ability to perform a particular task are motivated by their expectations of the consequencesRead MoreExpectancy Theory And Social Cognitive Theory Essay1163 Words   |  5 PagesExpectancy Theory in Practice and Social Cognitive Theory Expectancy theory in practice Expectancy theory is about the mental processes regarding choice, or choosing. It explains the processes that an individual undergoes to make choices. In the study of organizational behavior, expectancy theory is a motivation theory first proposed by Victor Vroom of the Yale School of Management. Expectancy theory tells us that people who are confident in their ability to perform a particular task are motivatedRead MoreTrait Theory And Social Cognitive Theories1190 Words   |  5 PagesTrait theory and Social Cognitive Theories are currently and have been very influential in describing personalities in people over the years. They have both similar and opposite qualities as well and seem to work off of each other at times in my opinion. Although many theories are still helpful in some ways, I feel like these two are more beneficial due to them bringing a more positive approach to describing personalities and giving the person more control over their own behavioral change rather thanR ead MoreThe Social Of Social Cognitive Theory1591 Words   |  7 PagesAbstract: The Social Cognitive Theory is perhaps the most comprehensive and complex learning theories in the field of psychology. The theory attempts to explain how our social environment has a great influence on our behaviors and actions. Albert Bandura is the most notable psychologist of the Social Cognitive Theory. He has conducted intense research and experiments for over 50 years and continually strives to improve the strengths and correct the limitations of the theory. The Social Cognitive TheoryRead MoreLearning Personality Theories1154 Words   |  5 PagesLearning Personality Theories PSY/405 August 8, 2011 Linda O Connor Learning Personality Theories Psychologists have attempted to explain personality with the development of various personality theories. Each theory varies in regard to explanations and views. Each theory of learning personality provides explanations, ideology, and dimensions. Learning personality theories focus mainly on interactions individuals have with his or her environment. Each theory believes that individuals reactRead MorePsychodynamic Perspective, Behavioral and Social Cognitive Perspective,897 Words   |  4 PagesCompare and contrast the various personality theories: Psychodynamic perspective, Behavioral and Social Cognitive perspective, Humanistic perspective, and Trait perspective) and discuss which  perspective you think is most applicable. Support your argument (based on what you learned, examples, etc). Psychodynamic Perspectives- view personality as being primarily unconscious and as developing in stages. Psychodynamic theorists believe that behavior is merely a surface characteristic and that toRead MorePsychoanalytic vs. Social Cognitive Essay788 Words   |  4 Pageswe are, what drives our personality? Is it driven by deep seeded sexual desires or is it something a bit more mundane, something that while we still have no control over, is easily studied? Every single individual has a personality; it is the very quintessence of human existence. Personality drives our interactions with others, our desires – conscious and unconscious, our perceived needs, and to a certain extent, even our actions. Psychodynamic approaches to personality are focused on the beliefRead MoreIs Personality Based On Science?986 Words   |  4 PagesIs personality based on science? Is personality a science? Precisely, what is personality? There has been many theories about personality as it has been viewed differently over the years. With personality, no two theories are the same just as no two individuals are. Personality is an individual’s characteristic pattern of thinking, feeling, and acting. Personality has been studied by many well-known psychologists including Sigmund Freud, Carl Jung, Gordon Allport, Abraham Maslow, and Albert BanduraRead MoreJulian Rotter Walter Mischels Theories Essay533 Words   |  3 PagesJulian Rotter and Walter Mischel both theorized that cognitive aspects, more so than direct reinforcements, establish human reactions to environmental influences. Both psychologists propose that human expectations of impending events are the foremost factors in determining human performance. Recognized for his cognitive social learning model of personality, Mischel’s theory centered on the particular cognitive variables that inte rvene with the way new experiences influence a person (Feist FeistRead MoreCognitive Behavioral Therapy ( Cbt ) Essay1717 Words   |  7 PagesCognitive Behavioral Therapy (CBT) is an insight-focused therapy that emphasizes the here-and-now. It is typically brief and time-limited, collaborative in nature, fairly structured and empirically based (Freeman, Felgoise, Nezu, Nezu, Reinecke, 2005). Aaron Beck is a major name that arises when discussing the origins of CBT. Beck (1970) contends that individual perceptions of events shape feelings and behaviors. This theory places emphasis on the concept of automatic thoughts. Automatic thoughts

Potato Free Essays

The potato is a starchy, tuberous crop from the perennial Solanum tuberosum of the Solanaceae family (also known as the nightshades). The word may refer to the plant itself as well as the edible tuber. In the region of the Andes, there are some other closely related cultivated potato species. We will write a custom essay sample on Potato or any similar topic only for you Order Now Potatoes were introduced outside the Andes region four centuries ago, and have become an integral part of much of the world’s cuisine. It is the world’s fourth-largest food crop, following rice, wheat and maize. 1] Long-term storage of potatoes requires specialised care in cold warehouses. [2] Wild potato species occur throughout the Americas, from the United States to southern Chile. [3] The potato was originally believed to have been domesticated independently in multiple locations,[4] but later genetic testing of the wide variety of cultivars and wild species proved a single origin for potatoes in the area of present-day southern Peru and extreme northwestern Bolivia (from a species in the Solanum brevicaule complex), where they were domesticated 7,000–10,000 years ago. 5][6][7] Following centuries of selective breeding, there are now over a thousand different types of potatoes. [6] Of these subspecies, a variety that at one point grew in the Chiloe Archipela go (the potato’s south-central Chilean sub-center of origin) left its germplasm on over 99% of the cultivated potatoes worldwide. [8][9] The annual diet of an average global citizen in the first decade of the 21st century included about 33 kg (73 lb) of potato. 1] However, the local importance of potato is extremely variable and rapidly changing. It remains an essential crop in Europe (especially eastern and central Europe), where per capita production is still the highest in the world, but the most rapid expansion over the past few decades has occurred in southern and eastern Asia. China is now the world’s largest potato-producing country, and nearly a third of the world’s potatoes are harvested in China and India. [10] How to cite Potato, Essay examples

Brazil And The Andean Highlands Essay Example For Students

Brazil And The Andean Highlands Essay Brazil and the Andean Highlands The similarities between the societies found in Brazil and those found in the Andean Highlands are relatively few. The Andean Highland dwellers were mostly Incas, found in greatest numbers in Peru. The inhabitants of Brazil were mainly concentrated around the Amazon River Basin area. The Andean Highland people consisted in large part of the Inca civilization (the name of the ruling family, not an ethnicity). However, the geographic location of these societies is not the only disparity that exist between these groups of people. Perhaps the most striking of the differences is the characteristics of these societies and the advancements, or lack of, that where achieved in each. With each group having distinct characteristics in the way of life, government, and labor, this affected the colonizing groups in significantly different ways and ultimately led to the prosperity or decline of the colony at that specific time. The forms of rule in the Amazon Basin a nd the Andean Highlands were of great contrast. At the time of European discovery of the New World, there existed very little political hierarchy in the areas of the Amazon River Basin. At most, and this was fairly uncommon; there was a local tribal chief. However, the government did not extend any further. There was no network of higher ruling. This may have stemmed from the fact that villages were scattered around the Amazon, divided by dense forest. The tribal chiefs would make some village decisions and be a liaison with other local villages. Still, territorial war was a major aspect of the Amazon Basin dwellers lives. This is in sharp contrast to the political system that existed in the Inca civilization. The Inca had a profoundly intricate political system that was based on rule that was inherited through bloodlines. There were local, regional, and empire ruling leaders. These statesmen demanded tribute from the lower classes and also force labor upon them, but they did provid e services for the good of the people and the empire. The leaderships had relatively few physical duties other than overseeing the domain that he ruled. Territorial war was also a characteristic of the Inca society. This society has often been labeled either a socialist empire or a welfare state. Specifically, the people of the Amazon Basin lived in small villages around the Amazon River and relocated often (when the soil became fallow). They were a tribal society maintained through shifting agriculture and hunting and gathering. The staple of their diet was of the tuber variety, a kind of potato. The society had no classes that differentiated between the rich and poor because the people had very little or no private property. However, gift giving was very common in this culture. The Inca had communities that ranged all the way from small villages to thriving cities. The main city of political and civil culture was called Cuzco. This is where the ruler of the entire empire lived. Much like the dwellers of the Amazon Basin, communities were often formed among groups of relatives, which were known as ayllu. In contrast with those of Brazil, classes divided the Incas, and individuals did own property. The lower classes were essentially often used as slave labor and they also pai d taxes and tribute to their local and regional rulers through food, materials, and general gifts that were not reciprocated. Land and human labor power was a main source of wealth in the Inca civilization. The types of labor that took place were vastly different between these societies. In Brazil, the labor was very much communal. Everyone worked together for the good of the village and its people. They worked together to build dwellings as well as for the cultivation and care of the crops. They used a slash-and-burn style of farming and relocated once the nutrients of the land were used up. The Incas were much more advanced. In many areas, labor specialization was common, especially in the large densely populated areas like Cuzco. Many of the people were forced to work building or repairing paved roads, irrigation channels, fortresses, and mines in a system called mita. The Inca took part in labor-intensive agriculture. They employed much more advanced agricultural production methods also. They developed irrigation systems, terracing, and other advanced agricultural techniques. With the arrival of the European colonists, many of these existing institutions and practices were destroyed and replaced with the Europeans system of rule and social customs. However, these clashed with what was practiced before the arrival of the Europeans and this soon became evident. There was much turbulence and revolt against the European ways. In the Andean Highlands, the Incas power was totally lost to the Spanish through force. Every pre-existing class was driven into slavery. The Spanish also employed the ruling-class system of mita to suit their purposes. The lower classes were already used to this type of treatment from the ruling class, but the upper classes resisted and were force to somewhat reform their policies on the strict ruling of the Incas. .uc34d5ec000cdc469446754eb1f40fb12 , .uc34d5ec000cdc469446754eb1f40fb12 .postImageUrl , .uc34d5ec000cdc469446754eb1f40fb12 .centered-text-area { min-height: 80px; position: relative; } .uc34d5ec000cdc469446754eb1f40fb12 , .uc34d5ec000cdc469446754eb1f40fb12:hover , .uc34d5ec000cdc469446754eb1f40fb12:visited , .uc34d5ec000cdc469446754eb1f40fb12:active { border:0!important; } .uc34d5ec000cdc469446754eb1f40fb12 .clearfix:after { content: ""; display: table; clear: both; } .uc34d5ec000cdc469446754eb1f40fb12 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uc34d5ec000cdc469446754eb1f40fb12:active , .uc34d5ec000cdc469446754eb1f40fb12:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uc34d5ec000cdc469446754eb1f40fb12 .centered-text-area { width: 100%; position: relative ; } .uc34d5ec000cdc469446754eb1f40fb12 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uc34d5ec000cdc469446754eb1f40fb12 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uc34d5ec000cdc469446754eb1f40fb12 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uc34d5ec000cdc469446754eb1f40fb12:hover .ctaButton { background-color: #34495E!important; } .uc34d5ec000cdc469446754eb1f40fb12 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uc34d5ec000cdc469446754eb1f40fb12 .uc34d5ec000cdc469446754eb1f40fb12-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uc34d5ec000cdc469446754eb1f40fb12:after { content: ""; display: block; clear: both; } READ: Sexual Harassment EssayThe Amazon Basin dwellers essentially suffered the same fate as the Incas. Captaincies were developed along the Atlantic coast of Brazil and the indigenous people of Brazil were forced into working there. There were many attacks against these captaincies by the indigens, which strained their success. Also, these indigenous people were not used to organized work that the captaincies used. Many of the workers tried to escape or commit suicide. This eventually led to their replacement with African slaves. Because of pre-existing conditions, European colonists were forced to deal with enigmas that were ingrained in the culture. Force alone could not override the conditioning of hundreds or thousands of years. This called for the Spaniards and Portuguese to amend their methods of governing the people of this foreign land. BibliographyHansis, Robert. The Latin Americans: Understanding Their Legacy. New York: The McGraw-Hill Companies, Inc., 1997. Keen, Benjamin. A History of Latin America. 5th ed. Boston: Houghton Mifflin Company, 1996. Patterson, Thomas C. The Inca Empire and Its Subject Peoples. The Indian in Latin American History: Resistance, Resilience, and Acculturation. Ed. John E. Kicza. Wilmington: Scholarly Resources Inc., 1993Stern, Steve. The Rise and Fall of White-Indian Alliances. The Hispanic American Historical Review. Vol. 61.3 (1981) West, Robert C. Aboriginal and Colonial Geography of Latin America. Latin America: An Introductory Survey. Ed. Brian W. Blouet and Olwyn M. Blouet. New York: John Wiley Sons, 1982.

10 Reasons Dinosaurs Make Bad Pets

10 Reasons Dinosaurs Make Bad Pets It seems that everyone these days is keeping dinosaurs as pets, what with supermodels tugging tiny Microraptors on leashes and pro football players adopting full-grown Utahraptors as team mascots. But before you fill out the paperwork at your local dinosaur shelter, here are some things you may want to consider. (Dont agree? See 10 Reasons Dinosaurs Make Good Pets.) 1. Pet dinosaurs are expensive to feed. If you dont happen to have a Cycad Hut or Ginkgo Emporium in your neighborhood, you might find it difficult to scrounge up sufficient vegetable grub for your pet Apatosaurus (and your neighbors probably wont appreciate him eating the tops of their shrubs). And do you know how many cute, fuzzy mice, rabbits and Labrador Retrievers the average Deinonychus goes through every day? 2. Its virtually impossible to teach a dinosaur tricks. Believe me, its easier to train your cat to clean your windows than to teach the average dinosaur to sit, fetch or heel. Your pet Ankylosaurus will probably just sit there on the floor and stare at you dolefully, while your teenaged Spinosaurus eats the drapes from the top down. (With a little persistence, though, you might be able to teach a purebred Troodon to roll over.) 3. Dinosaurs create a lot of poop. Unless you live smack in the middle of a turnip farm, you may have a hard time disposing of the hundreds of pounds of poop the average Triceratops generates every day. Flushing it down the toilet isnt an option, and neither is using it for insulation in your attic. Some pet owners have experimented with creating kiln-dried dinosaur-poop furniture, with mixed results. 4. No veterinarian will want to de-claw your dinosaur. For liability reasons, most municipalities require you to trim the claws of any raptors, tyrannosaurs or allosaurs residing in your household. Good luck getting a vet to do thisand, if you do miraculously find someone willing to take on this task, even better luck stuffing your Gigantoraptor into your Honda Odyseey  and shlepping it to the clinic. 5. Your pet dinosaur will want to sleep in your bed. In the wild, dinosaurs are accustomed to hunkering down in rotting foliage, urine-soaked sand dunes and ash pits strewn with rotting carcasses. Thats why the average Styracosaurus will insist not only on sharing your mattress, but layering on every freshly washed duvet cover in the house and using your pillows as antler cozies. 6. Dinosaurs arent very good with children... As much as kids love dinosaurs, its unfair to expect the average Ceratosaurus to reciprocate that affection, especially since a well-fed five-year-old can supply a weeks worth of calories. Teenagers will have a slightly easier time of it; in any case, theyll put up more of a fight before being swallowed head-first. 7. ...or with other dinosaurs, for that matter. So youre looking forward to hauling your pet Majungatholus over the local dinosaur park and meeting that cute chick with the Archaeopteryx  popping out of her handbag. Well, bad news: the only thing dinosaurs hate more than children is other dinosaurs. Take your pet to the dog run instead, then sit back and watch the fun. 8. Dinosaur pet-sitters are hard to come by. Isnt it cute when your neighbors eight-year-old daughter drops by to pet your kitty, feed it kibble and scoop out the litterbox? Well, she might think twice about doing the same for your pet Therizinosaurus, especially given the mysterious disappearance of the last six pet-sitters you hired to do the job. 9. Most cities have very strict dinosaur leash laws. Unless you live in Seattle (for some reason, Seattle is very liberal about these kinds of things) you cant just saddle up your pet Centrosaurus and take it out onto the sidewalk. Flout the rules, and your municipalitys animal-control squad will gladly tug your pal over to the nearest dinosaur shelter, assuming they arent eaten first. 10. Pet dinosaurs take up a lot of room. As a general rule of thumb, the American Purebred Dinosaur Association (APDA) recommends at least 10 square feet of living space per pound of dinosaur. Thats not much of a problem for a 25-pound Dilophosaurus puppy, but it could be a deal breaker if you plan to adopt a full-grown Argentinosaurus, which will require its own aircraft hangar.

The Auditor and Fraud Essay Example

The Auditor and Fraud Essay Example The Auditor and Fraud Essay The Auditor and Fraud Essay EXPLAIN THE RESPECTIVE ROLES AND RESPONSIBILITIES OF MANAGEMENT AND AUDITORS IN THE PREVENTION AND DETECTION OF FRAUD. The primary responsibility for fraud detection lies with management. This arises due to a contractual duty of care. Directors are able to discharge their duty toward prevention and detection of fraud and error in many ways, for example: * Complying with the Combined Code on Corporate Governance * Developing a code of conduct, monitoring compliance and taking action against breaches * Emphasising a strong commitment to fraud prevention. This involves establishing a culture of honesty and ethical behaviour within the organisation with clearly communicated policies. * Establishing an internal audit function * Having an audit committee The role of the auditor is with assessing the effectiveness of the internal controls. Auditors should appraise the risk of misstatements due to errors and fraud. The role of the auditor in the detection of fraud is appraised within case law, for example: Re Kingston Cotton Mill (1896) – An auditor â€Å"is a watchdog not a bloodhound†. According to Melville (2007), this judgement set the tone for the audit profession for a century. Auditors were to be passive checkers rather than be proactive in searching out errors, misstatements and fraud. This statement may no longer have the force it once did in the light of ISA 240 The Auditor’s Responsibility to Consider Fraud in an Audit of Financial Statements. Auditor’s are now expected to recognise at least the possibility that fraud may exist and, consequently, adopt an attitude of professional scepticism in their approach to audit work. Re Thomas Gerrard Son (1968) highlighted the negligence of auditor in overlooking fraudulent activities committed by directors. Auditors relied on stock certificates given to them by the managing director, a person who they trusted. This was supported by the decision in Re Kingston Cotton Mill whereby an auditor is ‘justified in believing tried servants of the company in whom confidence is placed by the company’. It was held that their responsibility was to investigate the matter fully once their suspicions had been aroused. If they had done so, the fraud would have been revealed. This is supported by the content of ISA 240 which requires auditors to follow up anomalies. Once suspicions have been aroused, tests designed specifically and uniquely to detect and establish the extent of fraud will be performed. Auditor’s should plan and conduct their audit tests to limit the possibility that material fraud and irregularities go undetected. Certain assets such as cash are more susceptible to fraud than others and audit planning should take account of this. Tests are mainly carried out due to the need to assess whether a matter is material before reporting it. If the matte proves to be material, it should be first reported to management (unless management are implicated in the fraudulent activity themselves). Auditors cannot guarantee the detection of all frauds and errors because they are not able to spend the time searching for frauds as they only analyse a sample. A guarantee cannot be made as auditors provide an opinion. IDENTIFY AND DISCUSS BOTH THE ORGANISATIONAL AND PERSONAL FACTORS WHICH MIGHT CONTRIBUTE TO AN ENVIRONMENT WHERE FRAUD IS MORE LIKELY TO OCCUR. The integrity of the individual and whether they seem to have a strong sense of ethics. Although a difficult characteristic to assess, the behaviour of individuals and their opinions on issues may provide important evidence to assist the auditors in assessing this characteristic. Personal integrity may well be a key if not the most important factor in keeping a person from committing fraud. There are many cases in which individuals with severe financial or personal pressures and the opportunity to engage in fraudulent activity do not do so because they have a strong personal moral code. Some fraud investigators believe that a strong moral code can prevent individuals from using rationalisations to justify illicit behaviour. Typical rationalisations include: I am only borrowing the money and will pay it back Nobody will get hurt (perception of fraud as â€Å"victimless† crime The company treats me unfairly and owes me Its only temporary until my financial position improves Everybody’s at it!! The extent to which individuals appear to be motivated by greed. Again, a difficult characteristic to assess but the individual’s concern with money and consumer goods may provide some clues about this. If someone starts turning up to work in a brand new Ferrari, they may have won the lottery, or benefited from the demise of a loving relative, or they could be up to no good!! The degree of loyalty exhibited by an individual. If the individual has been with one firm a long time, this may indicate a certain level of satisfaction with their employment and perhaps reduce the likelihood of them committing fraud. You should, however, also be aware that experienced employees, because they are trusted, might have a greater opportunity to commit fraud. Ernst Young Survey (2000) found that nearly half of the employees who defrauded their firms had been employed for over five years. Also bear in mind that opportunities to commit fraud can arise when an employee reaches a level of trust in an organisation or when internal controls are weak or nonexistent. Then the employee if he or she is so motivated will perceive that there is an opportunity to commit fraud, conceal it, and attempt to avoid detection and punishment Also, recent research undertaken by the Wharton School at the University of Pennsylvania suggests that in order to make it to the top ranks of corporate management you of course have to be very self-assured, but this can turn into overconfidence which can lead you to â€Å"cross the line† and commit fraud. For example, a senior manager believes that his firm is experiencing only a bad quarter or patch of bad luck. He believes it is in the best interests of everyone involved – management, employees, customers, creditors and shareholders to cover up the problem in the short term so that these constituents do not misinterpret the current poor performance as a sign of the future. In addition, he is convinced that down the road the company will make up for the current period of poor performance. It is the optimistic executive or overconfident executive who is more likely to have these beliefs. May stretch the rules a little or engage in earnings management ploys, but what if things don’t turn around as expected? Then he has to make up for the prior period and that requires continuing fraudulent behaviour. There appears to be a belief that overly optimistic executives can turn their firms around before fraudulent behaviour catches up with them, at least according to the US research. Jordan (2002) as cited in Quirke (2008) reaffirms this attitude by quoting a communist era Czech axiom â€Å"If you do not steal from the state, you rob your family† Antonio Birritella; â€Å"All these funds from the EU were seen as a gift to the Mafia, easy pickings†

Gamal Abdel Nasser Essay Example | Topics and Well Written Essays - 3500 words

Gamal Abdel Nasser - Essay Example The nationalist revival during the period of British occupation revealed a public awareness among a segment of Cairo's population, but this seldom was transacted into positive achievements. Instead, the Egypt of 1952 was a stagnant country. Beset by political strife, successive national governments did little to foster the country's development. An archaic structure of land ownership, abysmal living conditions among the great majority of the population, an economy geared to benefit a privileged few, and political instability--this was the legacy after thirty years of independence (Frederick, 268). The existing political parties abdicated their right to govern. In their struggle with the King and their quest for power and office, they treaded ruthlessly on the welfare of their country. Egypt's political structure blocked progress, rooted as it was in the status quo. No parliament controlled by wealthy landowners and Cairo's privileged social elite would support sweeping reform programs to the detriment of the vested interests. Few groups were untainted by the corruption which permeated Cairo. Many ranking civil servants owed their positions to partisan politics; landowners gained protection from the Wafd; businessmen were dependent upon the government for favors; and high ranking military officers often owed their posts to the King's personal support. Only the middle-class military--the captains, majors, and colonels, and, perhaps, a few generals--had the moral credentials for a bona fide movement of reform. And, after the sordid manipulation of the Alexandria cotton market and the collapse of national government in 1952, only the military was prepared to take action in the name of the people. Humiliated in the 1948 Palestine War, the Egyptian army generally had done little to distinguish itself. In its ranks, however, was a cadre of sincere and talented, though inexperienced, officers, and it was they who toppled the government in 1952. Initially, a junta sought to establish a nonpartisan civilian government, but this body proved unwilling to initiate the reforms desired by the young officers. Thus, the job of governing fell to the Free Officers by default. Governing had not been their initial purpose, and they were ill prepared for the task; but they alone were in a position to raze the "old order." And the destruction of the "old order" was a prerequisite for the implementation of profound reforms (Frederick 269). Role in Modernizing Egypt Rapid development in Egypt required an authoritarian government, and it became increasingly obvious that the Revolutionary Command Council could not measure up to the task. Instead, a single leader, a man with dictatorial powers, was needed. Gamal Abdel Nasser became dictator of Egypt in April, 1954. His was a difficult task. The country had not rallied to the military movement. Moreover, there was no panacea for Egypt's problems, and his every move drew the sniping attacks of those without the responsibilities for government. To his credit, he approached his mission boldly. Easy as it was to be irresolute, he determined what was best for