Role of Congress and American Presidency in Voters Representation

Introduction This essay analyses role of congress and role of American presidency with the aim of establishing which institution represents voters most. For an individual to answer the question of whom between the president of the United States and the country’s congress best represents the American voters, one needs to understand US politics and how the system of governance in the US is structured. Moreover, one has to understand the milestones, if any, which are attributable to the US presidency and the US congress as independent institutions.Advertising We will write a custom essay sample on Role of Congress and American Presidency in Voters Representation specifically for you for only $16.05 $11/page Learn More A president, who is the head of state and government, governs the US. The president of the US is the commander in chief of the Armed forces and thus is chief security officer of the nation. Congress is the bicameral legislature that com prises of the senate and the House of Representatives (Fein, 26). Fein (28) further observes that elections for the members of the house of representative are conducted after every two years. On the other hand, Senators are elected for a six-year term. Congress The issue of voter representation is a relatively tricky question, because level of representation is dependent on individual elected official. To the extend an elected officer listens to his or her people or is in touch with the people’s interests, to that extent he or she represents them. Representative politics assumes that the person who has been elected by the voters actively fights for their rights, interests and needs. Congress as an institution is supposed to be the most representative of Americans’ interests. Given there are many members from diverse backgrounds and representing different interests in congress, one can argue that it is more representative of Americans than the president. Comparing the t wo houses, one can validly argue that the members of the House of Representatives are more pressed to actively fight for the rights of voters than the senate given their term is shorter compared to that of the Senators. The fact that they have to go back to the electorate and seek a new mandate after every two years coerces them to focus more on the interests of their people. Consequently, one would expect them to work like bees in order to proof to the electorates that they are still pushing for or are keen on helping them realize their rights thus being given another chance in congress. Senators have a relatively more stable term in office. However, the length of the term does not translate into complacency. The senators just like the members of the House of Representatives are always on toes to represent the electorate. President Unlike members of the House of Representatives and the Senators, who often tend to represent particular interest groups, the president is a symbol of na tional unity. Although different parties with different philosophies and ideologies sponsor presidential candidates, once sworn in, the president is expected to be representative of all well meaning Americans’ interests. Being the head of state and government, the American president is a very powerful individual.Advertising Looking for essay on government? Let's see if we can help you! Get your first paper with 15% OFF Learn More Unlike the members of House of Representatives and the Senate, the president is elected by a much bigger number of voters and has to appeal to cross cutting interests of the Americans. This implies that the president represents a bigger number of voters compared to senators and members of the House of Representatives. However, in terms of determining national interests, both congress and the presidency have to work together to attain favorable results. Public Good/ National Interests To understand how Congress and the presidency work to gether for the good of American, it is important to consider the legislation process in America. When it comes to passing bills, collaboration and collective action is of necessity. Recently, the president managed get a bill passed on medical policy. Healthcare is an issue at the heart of many Americans concerns. The bill did not pass without any opposition from Congress. Due to differing interests among Americans, there were those members of Congress who were against the bill and others who supported the bill. Consequently, the president had to persuade and use incentives to have the bill passed by congress. The politics around the medical bill raises the question of who actually has the passion and interest of the American people at heart; is it the president or the congress? Even when a bill like the health care one may be expected to help the entire American citizenry regardless of race, sex, religion, and creed, it is interesting that some senators or members of the house of re presentative, due to ideological or merely political reasons, actually oppose such bills. Although the president may not be seen time and again interacting with voters, it does not mean that, he or she does not have their interests at heart. Over time in the history of America, it is presidents who often come out urging members of the Congress to stop looking at individual needs and focus on national interest. Therefore, as discussed by Kernell et al (356) presidents in a nation are more concerned about the common good and proper use of public resources. Managing public resources is not a very easy affair. In actual sense, politics is about who gets what share of the public resources. Public resources are open resources i.e. none is excluded from them. However, due to competing interests one has to go beyond selfish interests and seek the common good or interests that bind all together. There are also those interests in which all Americans share e.g. need to secure America from its enemies. The president, being the commander in chief of the armed forces of the US, has the sole authority of assuring the public of their security through commanding the armed forces when necessary.Advertising We will write a custom essay sample on Role of Congress and American Presidency in Voters Representation specifically for you for only $16.05 $11/page Learn More However, how to go about assuring public security is a very debatable issue. Therefore, congress comes in to check the measures of the executive aimed at ensuring security for all Americans. Through its debates, anchored on the interests of different interest groups that they represent, congress digests measures by the government and provides valuable suggestions for the good of the nation. From the foregoing discussion, it is clear that representation of voters’ interests is largely dependent on the interests and disposition of respective president and members of congress. In som e instances, there have been presidents who have been more pro-people than Congressmen have. In other cases, there have been presidents held hostages by certain interests and thus not championing the interests of all Americans. Considering numbers, the congress is more likely to represent diverse voter interests than the president. However, the role of the president’s office makes him more of an national figure (Margulies, 162). In the president, the different competing interests that congressional representatives represent find harmonization or reconciliation. The presidency should thus represent more of compromised interests i.e. interests that every American can identify with. Margulies (166) argues that the status of US as the world super power and economic giant equally prevents the president from having that adequate time to interact with the public as closely as the Senators and members of the House of Representatives are able to. The attention of the president is requ ired both nationally and internationally, a factor that further distances the president from the American people in their day-to-day lives. However, it has to be noted that even while engaging international issues, he or she performs these roles in order to represent the American people with the aim of safeguarding American interests internationally. Therefore, unlike congress representatives, the president’s representation of Americans goes beyond just national issues to espouse international interests. By doing so, he or she is still representing the voters that elected him or her but at a broader international level. Conclusion In conclusion, both the president and congress represent the American people. However, as a national figure, the president has to be representative of the interests of Americans as a whole. Congress is more representative when one considers the number of elected people in congress. However, congressional representatives tend towards partisan interes ts and in often cases, the president has had to come in to rally them towards common interests that are in national interest. The American people believe in democracy and related values. However, the kind of democracy currently exercised in America is representative democracy. At the heart of democracy is the idea that the government is of the people by the people for the people. This, ideally, means that all elected members of the executive and the legislature executed their services on behalf of the people and for the people.Advertising Looking for essay on government? Let's see if we can help you! Get your first paper with 15% OFF Learn More Works Cited Fein, Eric. The US Congress. Washington DC: Capstone press 2008 print. Kernell, Samuel, Jacobson, Gary Kousser, Thad. The Logic of American Politic. New York: CQ press, 2008 print. Margulies, Phillip. America Role in the World. Washington DC :InfoBase publishing, 2009 print This essay on Role of Congress and American Presidency in Voters Representation was written and submitted by user Theodore M. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

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Ethics In Nigeria Oil And Gas Industry Politics Essay

Ethics In Nigeria Oil And Gas Industry Politics Essay Nigeria is Africas most populous nation and also its largest producer of oil. The country is ranked fifth in terms of oil exportation to the United States. The country has the potential to reach the third spot replacing Norway in a few years though it is plagued with social unrest as well as corruption in the Niger Delta posing significant challenges to the production of oil. The intermittent economic crisis and the political turmoil the country faces dates back to independence in 1960. At the centre of this is the oil industry. This is highlighted by its human development indicators which are among the lowest in the world even though the revenue from gas and oil has gone up to 40 billion per year. This means that the countrys majority lives in extreme poverty. 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The oil and gas Transnational Corporation operating in Nigeria are active in addition to playing leadership roles in developing good codes of conduct and corporate practices in the work place as well as in engaging with different facets of the community. The involvement of Shell, BP-Amoco, Chevron Texaco, ExxonMobil, TotalFinaElf, Occidental, ENI among others in the Global Reporting Initiative (GRI), the United Nations Global Impact, the Sullivan Principle, the Millennium Development Goals, the Voluntary Principles on Security and Human Rights, Dow Jones Sustainability Index are some instances (Carrol Bulcholtz, 2003). The footprints of these companies are seen in the transfer of foreign direct investment (FDI), technology and skills: accounting for the majority of the state revenue; and a major employer of labor. They have also undeniably have contributed to the development of communities via programs in health, education, commerce, transport, agriculture, construction among others. Tuodolo (2009) argues that despite the contributions to the community and achievements, the oil transnational Corporations have been the targeted by negative and anti-corporate and negative campaigns in the last two decades. Many civil society actors have been responsible for damaging campaigns against these companies and the institutions that collaborate with them. The strategies they employ in this campaigns include publicity, networking, walk-outs, sit-ins, litigation, lobbying, peoples development plans, socially responsible investment, public hearings, blockades, exposures, seizures and closures. These campaigns cover ethical issues such as human rights abuses, environmental, safety, health, corruption and climate change. In Nigeria, one of the main protests by the civil society against an oil company was against Shell in the Gas flaring taking place in the region and on the Ogoni environmental issues, Niger Delta area (Amnesty International, 1995). The world has experiences massive campaigns carried out by the civil society actors against oil giants such as Shell, ChevronTexaco, ExxonMobil, Occidental, ENI. These campaigns often disrupt business activities, damages and embarrass the reputation of the business; the major civil society actors include Greenpeace, Friends of Earth, and the Sierra club, Amnesty, Global Witness, Christian Aid, Oil-Watch, Human Rights Watch and Corp-Watch. Yazji (2006) noted that many civil society actors view the Transnational Corporations more as strange bedfellows or enemies finding it difficult o associate with them. This is often based purely on grounds of ethics. However, recent years have seen a new trend in the relationship that exists between the Transnational Corporations and the civil society actors. Most notably is the development of collaborative relationships that are aimed at directing funding of programs for the civil society. Many of the civil society actors now maintain very cordial relationships with the oil companies with partners collaborating and doing business with the enemies, the oil and gas industry. According to Warren (2005), this is seen to benefits the image and public relation of the business more than the communitys welfare. This has created an image of rapprochement or collaboration between the civil society actors, the publics watch dog, and the oil transnational corporations. An example of this collaboration in Nigeria is witnesses in community development projects that are run by International Foundation for Education and Self-Help (IFESH) in collaboration with Chevron Texaco (Bendell Lake, 2000). These actions raise many questions that are still to be settled: have the ethical issues that the civil society had campaigned for in the past been resolved or changed? Have the oil industry players changed or repented for the better on the contentious issues that the civil groups raised in the past? Have the actors in civil societies lost track or are they comprised? Have the civil society actors been won over of placated by the big businesses? Or had the public relations machinery and campaigns by the corporations become more effective and can now shield their bad deeds. LITERATURE REVIEW Oil and gas industry in Nigeria Nigeria is Africas largest oil producer and is ranked eighth in the world. Commercial quantities of oil in the country were discovered in 1956. It can on average pump 2.5 million barrels of oil every day. This accounts to approximately 3 percent of the worlds total consumption. The Wall Street Journal stated in an article that the country exports the majority of this output. Oil provides around 90 percent of the countries total foreign exchange and around 80 percent if the federal revenues. This makes the country the fifth-largest foreign crude oil supplier to the United States behind Mexico, Canada, Venezuela and Saudi Arabia. Despite this richness in natural oil and gas resources, the country is ranked a lowly 20th poorest country in the world. Much of this poverty as well as underdevelopment can be attributed to the bad governance, mismanagement of the countys resources (oil and gas), political instability and the lack of infrastructure as well as policies to govern industries. Mo st of the many oil companies in the country are American. They utilize the countrys crude oil and gas resources to gain astronomical profits. These companies also utilize the environment to operate and produce within the oil industry. The Niger delta is the oil-rich region in Nigeria and is currently involved in conflicts that surround the oil companies. These companies are usually viewed as parasitic by the local communities as they take the regions resources while giving nothing or very little in return (Bird, 2004). Karl (1997) argues that as in many of the other petro states, the windfall revenues from oil and gas have proved to be more of a curse than a blessing. The country is plagued with conflict that stems out of inequitable distribution of oil revenue and the exploitation of the resources by the oil companies operating in the country. According to the constitution of Nigeria, all natural minerals including the gas and also belong to the Nigerian federal government. The government is then responsible for negotiating the terms for oil production with the international oil companies. Most of the production and the exploration of oil in the region is done by United States and European companies. These companies operate joint ventures in collaboration with Nigerian National Petroleum Corporation (NNPCC). The state oil company owns up to 60 to 55 percent of these ventures (Ukeje, 2004). Public relations and ethical issues facing the oil and gas industry in Nigeria Most of the ethical issues in the oil and gas industry in the country arise from the poor monitoring and enforcement of laws governing the oil producing companies. This is despite the fact that the laws in Nigeria are comparable to other international equivalents. This has seen the region experiencing significant damage to both the environment and to the livelihood of the people that live within the oil producing companies. The companies have failed in their ethical responsibility to relate well with the communities in which they operate. Compensation for the resultant damages is virtually nonexistent (Frey, 1997). The transnational corporations (TNC s) operating within the Nigerian oil and gas industry as well as institutions that collaborate with them have over the years come under negative/anti corporate campaigns by the community they operate in as well as by civil society actors. These actors include anti-capitalists, anti-corporate campaigners, anti-globalist, academics and greens. Although this is despite the contribution they seemingly bring to the development of a community, this actors have managed to shed light on unethical practices of corporate ensuring they practice positive public relations. In recent decades however this relationship has developed into a more collaborative one the purpose of which appears to favor the image of the business rather than the society (Newell, 2005). The other side of Corporate Social Responsibility There is no dispute that the community development programs initiated by the major players in the oil and gas industry have benefits most of the local communities. It is however important to not that these efforts in public relations have positive as well as negative impacts. Most of the local communities pay a great cost for enjoying the benefits of these Corporate Social Responsibility programs. Either by commission or omission, the activities or of shell and the program delivery processes have a negative impact on the local community that often outweigh the positive benefits of this corporate Social Responsibility endeavors. The role that the oil companies play in social and environment impacts illustrates this point. According to Human Rights Watch (1999), the Niger Delta in general and Nembe in particular, the oil activities have resulted in serious environment damages. This has been as a result of oil spills from flow stations, pipelines, well-heads; discharge of production and drilling waste; and gas flared from several oil fields. All this has occurred in/on creeks, air, sea and land of Nembe. In the process, fish ponds and farm lands are destroyed, sea and forest animals and plants are forced to migrate or are destroyed; as well as the air being polluted. This environmental degradation has negative impacts ranging from loss of livelihood (farming and fishing), low farm produce, limitation of economic activities, diseases, polluted water, food shortage among others. In certain cases, death of unsuspecting fishermen has occurred after oil spills occurred in the Nembe creek. The negative impact this has on the local communities livelihood and health is enormous. The community at one time indica ted that they are all fishermen who rely on fish for their survival. They also claimed that the oil spillage by Shell wells were destroying the marine life and in extension the peoples occupation. The farmlands as well were not fertile anymore from the pollution and the fish in the river had died. The people are only left with the option of fishing in the high seas which is very dangerous undertaking (Tuodolo, 2009, p.532) Shell on its part has not denied that its operations have been responsible for the degradation of the environment but has adamantly disagreed on the extent the damage to the environment resulting from its activities. Shell alone recorder 3,214 incidents of oil spillage from 1995 to 2004, an average of 300 incidents annually. This has resulted in a spillage of more than 450,000 barrels of oil onto the environment in the Niger Delta and the flaring of large volumes of gas, approximately 604 millions scf daily (SPDC, 2006). Considering that this are figures from only one company, the consequences experienced by the local community in terms of environment, livelihood, climate change or global warming are unimaginable. According to Agagu (2008), negative impacts of the corporate social responsibilities are further illustrated by the social effects they have on the local community. The Nembe case becomes significant once again. The relationship that shell has with the local community via the development programs and its operations have resulted in conflicts being commercialized where groups and individuals constantly fight over the patronage or benefits from shell; funds for community development are misappropriated, mismanaged and embezzled by the leaders or shares amongst cliques and community leaders to the exclusion of the other members of the community. Further negative effects include destroying of community governance by emerging youth groups that usurp the authority and powers of the chieftaincy institutions as well as the exacerbation of several forms of social disorder such as an increase in illiteracy, proliferation of arms, lawlessness, criminality and the disintegration of culture and t radition. These youth groups were apparently armed by the Corporation. Shell sponsor some youth in the community, purchased arms and ammunition for them to fight whoever that is fighting them or protesting for their right from Shell (Tuodolo, 2009, p.538). From 2000 to 2006, the number of intra-communal conflicts numbered 21 with six of these inter-community conflicts being linked to the activities that shell was involved in The oil companies, particularly Shell, Agip and their servicing companies, are central to the crises in the community (Tuodolo, 2009, p.538). The Nembe Indigenes summarizes the social impacts resulting from Shells activities as, These oil or multinationals have thrust a knife in our midst and we have fallen apart. The love for money and our political selfishness have set us against each other and we no longer see ourselves as brothers, fathers, chiefs, sisters, we disregard ourselves for temporary and temporal things, which have led to the formation of nocturnal and clandestine groups which have transformed Nembe to Sicily (Italy). Groups that are sponsored by chiefs, elders, politicians, government agents and the multinationals have succeeded in causing our aged parents and children, while our young men die prematurely in arms struggle, our parents die of heart attack and the children are denied knowledge by preventing them from going to school (Tuodolo, 2009, p.538). And, What wrong has the Nembe man done to Shell and the Federal Government that all these wrongs are visited on him within a decade? (Tuodolo,2009, 538) This continues to raise ethical questions related to the true intentions and the practices of these transnational corporations, the efficacy of their machinery of public relations or the position and campaigns of the civil society actors. This paper attempts to answer the question of dilemmas that the oil and gas industry face in public relations management and ethic by examining the activities of the oil companies in Nigeria. Particular attention is given to the impact of these companies on the communities residing in the oil rich Niger delta region. The paper is based on review of articles that have been written on the matter ranging from academic articles to newspaper articles. METHODOLOGY This study utilizes qualitative content analysis so as to explore the conditions that the oil and gas industry in Nigeria operate in that create the dilemmas in public relations and ethics of practice. This is according to recommendation by Jensen (2002) on qualitative research. The study is iterative/repeat process as this topic has been covered numerous times before. As such, this method allows for an application of analytical procedures and theoretical concepts employed to a variety of empirical domains that is flexible. This discourse will contain information source from academic articles from online journals, press releases and webpage pieces from the oil corporations operating in Nigeria and news paper articles that span the last two decades that have seen the ethical issues and public relations deteriorate as well as receive world wide attention. In addition to these article, particular case study on dilemmas faced by in Particular Shell are employed to give a clearer picture of the situation in Nigeria as well a to provide for a fuller analysis. Sample The method of data collection used in this discourse studies information content in article spanning two decades, from the 1990s to current date. The documentation is comprised of academic articles, magazine and newspaper articles, government reports and civil society articles and reports produced in the contest of normal publicity business to address the crisis facing the oil industry in Nigeria. According to Lindolf Taylor (2002), this ensures that the sources are free of bias from the researcher. A limitation of this method is that it may prove to have a limited or indirect exploratory value for the research questions to be addressed. However, it will be able to fully address the question of ethical and public relations dilemmas faced by the industry. This is because of the intense media civil society and international attention this case has received over the years with particular emphasis being placed on the misdeeds of the oil multinationals operating in the Niger Delta. ANALYSIS The analysis section will focus on a debate that addresses the various issue faced by the oil corporation and in particular Shell in their operations. This will lead up to the various public relations steps and strategies employed by the companies to address their alleged ethical misconduct in the wake of political and economical turmoil allegedly exacerbated by their operations in the country. In their attempt to maintain a public faces, the companies spawned public relations strategies that aimed to portray them as saviors to a people long subjected to poverty as a result of bad governance. This is through the numerous development projects that are operated under the patronage of these companies in the country. On the background of this is the numerous environmental and human right violations that have continued unhindered as a direct or indirect result of these companies continued exploitation of Nigeria natural resources, oil and gas, to meet their bottom line, astronomical profi ts. The case of Ken Saro-Wiwa and the Ogoni People initiated the international concern in the region and offers a backdrop to the origin of the conflict between the oil corporation and government of Nigeria on one hand and the people of the Niger Delta in general on the other. DISCUSSION The debate on dilemmas in public relation and ethics in the oil and gas industry in Nigeria Milton Friedman (1970), a free-market economist, ascertained that a businesss one and only social responsibilities involves the making of profit. This view is less popular in present day business. However, many economists and business leaders still believe that the best way for a company to promote the local communitys social development is comprised simply of increasing the overall level of activities in economy through investment and trade. In taking this view, the administration of revenue generated, environmental standards tolerated of the respect for the human rights in the community residing in the area of operation are simply not relevant. These factors are in fact viewed as hindrances to the corporations main business and in the long run to the countrys social development itself. If standards employed for developed countries are duplicated in the developing countries, then they will simply never catch up, this is because dangerous working conditions, below-market wages that w orkers in third worlds are subjected to are justified as being better than there being no jobs at all. The corporations shareholders make the situation worse by justifiably complaining if the directors pay attention to issues that may negatively impact the companys financial bottom line (Soremekun, 1995). However, this attitude is increasingly changing as the companies come under more pressure from activists and consumers who are worried about the impact globalizations of the economy is having on the worlds poor. In addition, directors of these corporations have come to see that wider issues of social development have a direct or indirect impact on their operations. This trend has brought with it the buzz phrase triple bottom line encompassing social, economic and environmental outcomes. A good reputation for the corporation is seen as a valuable asset as it attracts customers and helps in recruiting competent employees. Good public relations with the local communities promoted by development programs that are properly administered as well as good labor relations minimize the shut-downs that cause protests directed towards the operations of the company. Even though low environmental standards and low wages can in the short-term be useful to the company, in the long run the company mak es more money if it is accountable for its operations. Studies carried out, have not revealed any correlation between the foreign direct investment that oil transnational corporations inject into the developing countries itself and the respect for human rights in these countries. In Nigeria, the presence of the oil multinationals is viewed to have seemingly contributed to promoting the successive military regimes that ruled the country for a long haul. These regimes were responsible fro multi human rights violations in addition to misappropriation of funds meant to promote development. The companies interest should therefore focus on the promotion f steps geared at the positive development of the communities social welfare. They should also minimize their environmental effects while also aiming for their core business, maximizing profits (Uduaghan, 2008). Oil multinational corporations have increasingly become more powerful within the global economies. The companies operating in Nigeria have substantially large global resources than the country itself. This has resulted in the country being almost paralyzed in enforcing international and/or domestic law against these companies. This is especially true when these companies have diplomatic support from the first-world country where the corporate headquarters are located. May of the laws that have been developed to govern the conduct of multinational across the world have been largely opposed to by the developed countries. This is especially because of their provisions/recommendations of treatment of the multinationals by the host countries. An example is the U.N Code of Conduct on Transnational Corporations. As such, no laws are currently legally binding in terms of the public relations responsibilities of the multinationals. Some companies have recognized that it is in their best inter est and have started initiatives to address questions raised regarding their operations. However, human rights and environmental activists have notes that the companies statements of intent are not worth it without the strategies meant to ensure they are implemented. They also call for independent auditing of the human rights and environmental performance. Up to date, no oil corporation, Shell include, has agreed to be subjected to such an audit (Nigerian Tribune, 2008). The experience of Shell in Nigeria offers a glimpse on how an oil transitional corporation ought to learn from a significant sustainability dilemma. In response to these significant challenges, shell setout to develop practices and policies that were designed to address the problems. They included the company engaging the local community the international forum and the civil society in dialog. In addition it began to actively participate in the developments of norms for corporate citizenship (Eyinla Ukpo, 2006). Having operated in the Niger Delta since the 1950s, Shells operations and the influence it had politically in the region only came under scrutiny after the execution of Ken Saro-Wiwa author-activist and a member of MSOP, Movement for the Survival of the Ogoni People, in 1995. The author and activist castigated the companys operations in Nigeria, gaining international attention. He highlighted the role that the oil industry had played in the stagnation of the economy of the Delta. The Nigerian economic growth pace has not kept abreast with the growth that the countys oil industry has been able to achieve. The industry is currently able to produce in excess of 2 million barrels of oil daily (Eyinla Ukpo, 2006). Shell has reportedly admitted that the approach it has taken in public relations causes the disorder in the community. The cash payments made, for instance standby labor, access fees to community youths, have seemingly been at the center of inter-community disputed as well as for the distortion of genuine needs of the community. Despite all this, Shell has yet to change its practices although it still claims it is practicing corporate social responsibility (Tuodolo, 2009). According to Birnbaum (1995), the inequitable distribution of the oil revenue, the high rates of poverty coupled with the episodically harsh rule is responsible mainly for spurring the conflict in the Niger Delta. The Human Right Watch (1999) cited that while the people of the Niger Delta have faced the adverse effects of the oil extraction, they have in general also failed to gain from the oil revenue. By galvanizing the up to 500,000 people of the Ogoni-land in MSOP, Saro-Wiwa was able to draw the worlds attention to the grievances of his people. He constantly cites Shells complicity as the symbol of the status quo. Eventually, the federal police forces acted to shutdown MSOP. This saw numerous people being detained, injured or even killed. Nine activists, among them Saro-Wiwa were arrested in 1994. This was allegedly because of murdering four local leaders. All the accused would go on to be executed in November 1995 after court proceedings that the then United Kingdom Prime Minist er John Major termed as judicial murder. (BBC News, 1995). The role that Shell played in the Ogoni incident is a complex one. The company is reported to have sought clemency for the nine accused. In several statements, it lamented about the heavy handedness and the violence that both sides of the conflict in Ogoni-Land had over time displayed (Human Rights Watch, 1995). Contrary to these statements, the company later disclosed it had on several occasions in 1993 made direct payments to the states security forces under duress. Appearing before the U.S House of Representatives International Subcommittee on Africa in 1996, Stephen Mills, the environment and human rights campaign director for the Sierra Club stated that The Sierra Club is of the opinion that Shell should feel considerable responsibility for the death of Ken Saro-Wiwa and the other Ogoni activists. Shells massive pollution, repeated denial of responsibility for it, its refusal to clean up the Ogoni territory, and its appeal to the Nigerian military to silence the protestors is what incited the civil unrest (Sierra Club, 1995). In a recent statement, Mills released a follow-up piece that stated, A peaceful solution to the crisis in the delta seems remote as anger grows over record oil profits amid the striking poverty. The Riyal Dutch Shell earned a whooping 18.5 billion dollars in 2004 yet some villages within sight of the gleaming shell facilities have no electricity or running water. However, the campaign Ken Saro-Wiwa led to hold Shell accountable for their pollution and complicity in human rights violation has not been in vain. After the death of Saro-Wiwa, the company did adopt stronger social and environmental responsibility guidelines. It is up to communities in the delta and groups like mine to make sure that Shell and other oil companies live up to their promises (Sierra Club, 2008). Shell as under severe criticism for the perceived role it played in the events that lead up to Saro-Wiwas death. Amnesty international however recognized the companys willingness to discuss the groups concerns regarding its human rights record. In a report released in 1996, Amnesty International noted that only Shell has responded to its appeal to Shell and other oil transnational companies operating in Nigeria to acknowledge that they have a responsibility to at all costs uphold the human rights under the Universal Declaration of Human Rights. Despite this, many questions still lingered on the companys operations in the region. The UN Special Rapporteur of the Commission on Human Rights issued a report in 1997 calling for attention to be renewed on the persistency of oil spills in the delta region. Some of these spills were as a result of sabotage. The report raised deep concerns about the severe and widespread environmental damage to the River Delete region as a result of the oil o perations and exploration by Shell. The company took account of the issues that were raised and undertook a major review of its internal operations (Newell, 2005). Meanwhile, by the turn of the century, the relationship between Shell and the communities in the oil producing region had worsened since Ken Saro-Wiwa had been executed. This was despite the efforts of the company to improve on Public relations, in particular by increasing its spending on developments and the professionalization of the developmental projects management. It is fair to note that most of the deterioration experienced was as a result of the government failing to respond to the demands that had been presented by the Delta communities rather than by the activities of the company. The continuing dilemmas and problems illustrate just how difficult it is to put the fine words contained in the Statement of General Business Principles into actual practice (Tuodolo, 1999). Shell and public relations in Nigeria Shell has undoubtedly contributed immensely to Nigerias economic growth as well as to the development of the local communities residing in the companys area of operation. Shells activities employ around 12,000 persons as skilled and unskilled labor making it a major employer of labor. The greatest evidence of shells effort to maintain positive public relations are in its development programs in the communities it operates in. Through community development programs, the company contributes to development of education in the local communities. The company achieves this through the provision of scholarships from primary up to university level, to local level, construction of classrooms, provides appliances and equipments and at times pays allowances for teachers in post primary. For some of the communities, shell provides or sponsors training in basic skills such as joinery, mechanics, craftsmanship, tailoring among others, for the indigenous (SPDC, 1999). Shell also plays an active role in several other sectors aimed at community development, for instance, transportation: building jetties, construction of roads, donation of cars and speed-boats; agriculture: donation of equipment for farming, microcredit schemes for the farmers, training of farmers; water: construction of water pipelines, sinking boreholes; electricity: supply of diesel, donations of power plants; and the provision of infrastructures such as land reclamation, shore protection comm

Flood of Epic of Gilgamesh and Book of Genesis of the Holy Bible :: Epic Gilgamesh essays

The Flood of Gilgamesh and Genesis  Ã‚   The Epic of Gilgamesh records a story of a world-wide flood and pre-dates Genesis. So some claim that this invalidates the Genesis record. But P.J. Wiseman presents an interesting theory in this regard in his book Ancient Records and the Structure of Genesis (New York: Thomas Nelson, 1985). He believes that Moses did not write Genesis but rather translated it from ancient stone tablets written in Cuneiform script. The tablets each would have been originally written by eye-witnesses of the particular events, or those who received their information from eye-witnesses. He breaks Genesis into parts according to the phrase "These are the generations" (KJV; "This is the history" - NKJV; "This the account" - NASB; NIV; Gen 2:4; 5:1; 6:9; 10:1; 11:10; 11:27; 25:12,9; 36:1,9; 37:2). He compares the use of this phrase and the structure of each section to the stone tablets written in cuneiform script. Many of these tablets have been discovered and they date to the third millenium BC. Wiseman's theory is that Genesis is translated from individual tablets which would have contained the material before each occurrence of the above phrase. So the narratives of the creation of the universe (Gen 1) and of the Garden of Eden (Gen 2) would have been written on one tablet by Adam as these events were revealed to him by the only Eye-witness of the events, God Himself. The narratives of the Fall and subsequent events would have been written on another tablet by Adam as an eye-witness of the events. Adam then passed each of these tablets on to his descendant Seth. Seth then recorded the events of Gen 5 and passed the tablets to his descendant Noah. Noah then recorded the events of Gen 6-9 and passed the tablets to his descendant Shem, and so one until Joseph. Joseph then recorded the final chapters of Genesis and placed all of the tablets in the library of the pharaohs. Moses then, while in pharaoh’s court, would have had access to these tablets. He then translated them into his native Hebrew. The above theory "fits" with various evidences in the Scriptures. For instance, it would explain such passages as Exod 6:3: "I appeared to Abraham, to Isaac, and to Jacob, as God Almighty, but by My name, LORD [YHWH], I was not known to them." But the Tetragrammaton appears in Genesis, making for an apparent contradiction.

Learning Theories Essay

Lev Vygotsky, born in the U. S. S. R. in 1896, is responsible for the social development theory of learning. He proposed that social interaction profoundly influences cognitive development. Vygotsky’s key point is his belief that biological and cultural development do not occur in isolation. Vygotsky approached development differently from Piaget. Piaget believed that cognitive development consists of four main periods of cognitive growth: sensory motor, preoperational, concrete operations, and formal operations. Piaget’s theory suggests that development has an endpoint in goal. Vygotsky, in contrast, believed that development is a process that should be analyzed, instead of a product to be obtained. Marcy P. Driscoll stated (as cited in Riddle, 1999) that â€Å"Vygotsky believes the development process that begins at birth and continues until death is too complex to be defined by stages†. The major theme of Vygotsky’s theoretical framework is that social interaction plays a fundamental role in the development of cognition. Vygoysky states: â€Å"Every function in the child’s cultural development appears twice: first, on the social level, and later, on the individual level; first between people (interpsychological) and then inside the child (intrapsychological) (Funderstanding, 2001). This applies equally to voluntary attention, to logical memory, and to formation of concepts. All the higher functions originate as actual relationships between individuals. A second aspect of Vygotsky’s theory is the idea that the potential for cognitive development is limited to a certain time span that he calls the â€Å"zone of proximal development† (ZPD). Vygotsky believed that this life long process of development was dependent on social interaction and that social learning actually leads to cognitive development (Kearsley, 1998). Vygotsky describes it as â€Å"the distance between the actual development level as determined by independent problem solving and the level of potential development as determined through Learning Theories 3 problem solving under adult guidance or in collaboration with more capable peers† (Funderstanding, 2001). In other words, a student can perform a task under adult guidance or with peer collaboration that could not be achieved alone. The Zone of Proximal Development bridges the gap between what is known and what can be known. Vygotsky claimed that learning occurred in this zone. Therefore, Vygotsky focused on the connections between people and the cultural context in which they act and interact in shared experiences. According to Vygotsky, humans use tools that develop from a culture, such as speech and writing, to mediate their social environments. Initially, Children develop these tools to serve solely as social functions, ways to communicate needs. Vygotsky believed that the internalization of these tools led to higher thinking skills (Riddle, 1999). When Piaget observed young children participating in egocentric speech in their preoperational stage, he believed it was a phase that disappeared once the child reached the stage of concrete operations. Driscoll states (as cited in Riddle, 1999) â€Å"in contrast, Vygotsky viewed this egocentric speech as a transition from social speech to internalized thought†. Thus, Vygotsky believed that thought and language could not exist without each other. Vygotsky’s theory was an attempt to explain consciousness as the end product of socialization. For example, in the learning of language, our first vocal noises with friends or adults are for the purpose of communication, but once mastered they become internalized and allow â€Å"inner speech†. Traditionally, schools have not promoted environments in which the students play an active role in their education and in the education of their friends. Vygotsky’s theory, however, requires the teacher and students to play untraditional roles as they collaborate with each other. Instead of a teacher dictating the lessons to students and later evaluate them, a teacher should collaborate with her students in order to create meaningful ways that students can make their own evaluation. Learning then becomes a reciprocal experience for the students and the teacher. Learning Theories 4. The physical classroom, based on Vygotsky’s theory, would provide clustered desks or tables and work space for peer instruction, collaboration, and small group instruction. Like the environment, the instructional design of material would be structured to promote and encourage student interaction and collaboration. Thus, the classroom becomes a community of learning. Because Vygotsky asserts that cognitive change occurs within the Zone of Proximal development, instruction would be designed to reach a developmental level that is just above the student’s current developmental level. Vygotsky proclaims, â€Å"learning which is oriented toward developmental levels that have already been reached is ineffective from the view point of the child’s overall development. It does not aim for a new stage of the developmental process, but rather lags behind this process† (Social Development, 1996). Appropriation is necessary for cognitive development within the zone of proximal development. Individuals participating in peer collaboration or guided teacher instruction must share the same focus in order to access the zone. Samuel J. Hausfather states (as cited in Riddle, 1999), â€Å"joint attention and shared problem solving is needed to create a process of cognitive, social, and emotional interchange†. Furthermore, it is essential that the partners be on different developmental levels. In addition, the partner that is on the higher level needs to be aware of his partner’s lower level. If this does not occur, or if one partner continually dominates, the interaction is less successful. Scaffolding and reciprocal teaching are effective strategies to access the zone. Scaffolding requires the teacher to provide students the opportunity to extend the current skills and knowledge. Hausfather reports (as cited in Riddle, 1999) â€Å"the teacher must engage students’ interests, simplify tasks so they are manageable, and motivate students to pursue the instructional goal. In addition, the teacher must look for discrepancies between students’ efforts and the solution, control for frustration and risk, and model an idealized version of the act†. Learning Theories 5 Reciprocal teaching allows for the creation of a dialogue between students and teachers. This two-way communication becomes an instructional strategy by encouraging students to go beyond answering and discussing questions. A study (as cited in Riddle, 1999) demonstrated the Vygotskian approach with reciprocal teaching methods in their successful program to teach reading strategies. The teacher and students alternated turns leading small group discussions on reading. After modeling four reading strategies, students began to assume the teaching role. Results of this study showed significant gains over other instructional strategies. Cognitively Guided Instruction is another strategy to implement Vygotsky’s theory. This strategy involves the teacher and students exploring math problems and then sharing their different problem solving strategies in an open dialogue (Riddle, 1999). Vygotsky’s social development theory challenges traditional teaching methods. Historically, schools have been organized around recitation teaching. According to Hausfather, (as cited in Riddle, 1999) â€Å"the teacher disseminates knowledge to be memorized by the students, who in turn, recite the information back to the teacher†. However, the studies described above offer empirical evidence that learning, based on the social development theory, facilitates cognitive development over other instructional strategies (Riddle, 1999). School structure does not reflect the rapid changes that society is experiencing. Opportunities for social interaction have greatly increased with the introduction and integration of computer technology. Therefore, the social context for learning is transforming as well. Learning relationships can now be formed from distances through cyberspace, whereas collaboration and peer instruction was once only possible in shared physical space (Bacalarski, 1994). Computer technology is a cultural tool that students can use to mediate and internalize their learning. According to Kathryn Crawford (as cited in Riddle, 1999) â€Å"recent research suggest changing the Learning Theories 6 learning contexts with technology is a powerful learning activity†. If schools continue to resist structural change, students will not be as prepared as they should be for the world. Lev Vygotsky lived during the Russian Revolution, a time of great change in his culture. His theory was that biological and cognitive development does not happen apart from each other. These two developments sustain and grow from each other. This is when learning takes place. Because of this theory, his environment of change was a great influence in his own cognitive processes. Learning Theories 7 References Bacalarski, M. C. , (1994). Vygotsky’s Developmental Theories and the Adulthood of Computer Mediated Communication: a Comparison and an Illumination. Retrieved November 7, 2003 from http://psych. hanover. edu/vygotsky/bacalar. html. Funderstanding, (2001). Vygotsky and Social Cognition. Retrieved November 7, 2003 from http://www. funderstanding. com/vygotsky. cfm. Kearsley, G. , (1998). Social Development (Vygotsky). Retrieved November 9, 2003 from http://members. aol. com/daidpeal/vygotsky. html. Riddle, E. M. , (1999). Lev Vygotsky’s Social Development Theory. Retrieved November 7, 2003 from www. kihd. gmu. edu/immersion/knowledgebase/theorists/constructivism/vygotsky.

The Whole Language Approach To Learning

The Whole Language Approach To Learning There are a lot of specific methods and approaches to teaching. There is no one particular method affirmed by all the teachers, therefore the vast majority of ideas exists. The differences in perception of the ways for teaching lead to the presence of various methods to learning.Advertising We will write a custom essay sample on The Whole Language Approach To Learning specifically for you for only $16.05 $11/page Learn More The Whole Language ideology is a particular method for teaching which deserves attention due to its peculiarity. The main purpose of this discussion is to consider the problem of the Whole Language in detail, referring to the system of reading as the particular method for helping students understand the nature of language as a whole. Considering the approach under discussion, it may be stated that it is based on the idea that the language is a whole and it should be taught as a whole. Traditional system of teaching presupposes division of the learning procedure into several segments which are given to children separately. The peculiarity of the Whole Language approach is that students are offered knowledge into one specific approach which combines necessary items that help students obtain necessary knowledge (Çekià § 223). The whole language approach is based on a number of particular principles which help many students learn languages as a system of knowledge. Thus, the main principles of the whole language instructions are as follows, (1) the lessons are run from the whole to the pieces, (2) lessons are learner-oriented, (3) the lessons are meaningful and purposeful for students, (4) students are involved into social interaction, (5) simultaneous development of receptive and generative competencies is observed, (6) in case a foreign language is taught, native language should be used for instruction, and (7) â€Å"teachers should help second language learners decrease their affective filters† (Adunyarit tigun n.p.). Much research has been conducted in the sphere of whole language study system and the results are rather impressive. Those who were offered this particular system made remarkable process in their education. Therefore, Ahmed is sure that writing skills are developed better if this complex system is used. Many scholars point at the fact that students express interest in studying foreign languages if this particular approach is implemented. One of the main problems in learning a foreign language is the inability to use this language.Advertising Looking for essay on education? Let's see if we can help you! Get your first paper with 15% OFF Learn More Students are to study different aspects of language and after these boring exercises students may be able to talk. The whole language approach states that students will have an opportunity to become interested in language earlier before they will be able to talk (Schwarzer and Luke 87). Theme studies, pr ocess writing and literature-based breading combine the whole language approach. It means that performing a particular task students are involved several processes which help them learn information faster and better (Lamme and Beckett n.p.). Having considered the main idea of the whole language approach to the education, it is possible to point at the advantages and disadvantages of this system. As it has already been mentioned, the difference between the traditional education and teaching children with the help of the whole language may perfectly underline the pros and cons for using the whole languages. First of all, it should be stated that while writing students just see the graphical correspondence of the letters, while reading aloud they do not involve thinking and creativity and while thinking and answering the question students are unable to apply their writing skills. The whole language approach is the only educational instruction which is ready to combine all of these comp etences. This is one of the main values of the system and the reasons why it is better from the traditional one (LeDoux n.p.). One of the main disadvantages of the whole language approach is the absence of the sufficient explicit phonics instruction. Being apparently new system which is not involved largely, many teachers do not want to be bothered with the innovation. However, referring to Schwarzer and Luke’s point of view in the relation to the whole language systems implementation, the following principles should be considered.Advertising We will write a custom essay sample on The Whole Language Approach To Learning specifically for you for only $16.05 $11/page Learn More Language arts should be integrated, â€Å"language is not an end in itself, but a means to an end† (Schwarzer and Luke 95), students should take part in literacy events and be circled with authentic print, students learn new information by doing a complex of activities an d they are personally responsible for the knowledge they will obtain. Assessment is an inevitable part of the whole language system (Schwarzer and Luke 95). Additionally, traditional system of education is based on teaching students literacy and language. The Whole Language approach is much broader in this concept as depending on the books accepted for reading, students are taught social justice and other particular notions. Using the whole language approach, students are taught â€Å"a range of social and cultural practices which assist students to question the truth of texts, to ask different questions about texts, and indeed to seek out conflicting texts† (Taylor and Otinsky 71). Ethical and moral issues should be met while implementing the whole language approach (Taylor 106). Therefore, it may be concluded that the choice of the books for reading should be appropriate. To help teachers understand what kind of books should be used, this list of the books for reading for t he sixth grade should be checked. The selection of the books for reading is based on the principles of the whole language learning approach and the peculiarity of teaching students. It is important to remember that the support of speech, language and communication are the central goals for teaching students at the sixth grade and the use of the whole language approach may be an ideal method (Leyden, Stackhouse and Szczerbinski 207; Jones n.p.).Advertising Looking for essay on education? Let's see if we can help you! Get your first paper with 15% OFF Learn More The following list of books is provided with the purpose to inform teachers which books should be covered in the program. The choice of the books is based on their usefulness in the whole language approach. Therefore, the following sources should be considered: The Golden Dream of Carlo Chuchio by Lloyd Alexander, No Castles Here by A. C. E. Bauer, Getting to first base with Danalda Chase by Matt Beam, My name is Henry Bibb: a story of slavery and freedom by Afua Cooper, The Million Dollar Putt by Dan Gutman, A Taste for Red by Lewis Harris, The Genie Scheme by Kimberly K. Jones, Lost Time by Susan Maupin Schmid Its Only Temporary by Sally Warne Closed for the Season by Mary Downing Hahn. These books should be read by the sixth grade students as the part of their whole language approach as there is much to discuss in these novels and stories. Adunyarittigun, Dumrong. Whole language: A whole new world for ESL programs. (1993): ERIC. Web. Ahmed, Abdelhamid Mohamed Abdelhamid. The E ffect of using the whole language approach on developing some composition writing skills in English for experimental secondary students In Egypt. Online Submission (2006): ERIC. Web. Çekià §, Ahmet. The basis and applications of the whole language approach to ELT. Educational Sciences Series 62.1A (2010): 223-229. Print. Jones, Jeffrey M. Learning to read and whole language ideology. Web. Lamme, Linda Leonard and Cecilia Beckett. (1992). â€Å"Whole language in an elementary school library media center.† ERIC Digest. Web. LeDoux, Amanda. Investigating the implementation of whole language: Strengths and weaknesses. Online Submission (2007). ERIC. Web. Leyden, Jenny, Stackhouse, Joy and Marcin Szczerbinski. Implementing a whole school approach to support speech, language and communication: Perceptions of key staff. Child Language Teaching and Therapy 27.2 (2011): 203-222. Schwarzer, David and Chris Luke. Inquiry cycles in a whole language foreign language class: some theor etical and practical insights. Texas Papers In Foreign Language Education 6.1 (2001): 83-99. Taylor, Monica, and Gennifer Otinsky. Becoming whole language teachers and social justice agents: Pre-service teachers inquire with sixth graders. International Journal of Progressive Education 3.2 (2007): 68-82. Taylor, Monica. Whole language teaching, whole-hearted practice: looking back, looking forward. New York: Peter Lang, 2007.

Free Essays on Finanical Analysis

Financial Analysis The May Department Stores Company May Department Stores Company began in 1877, David May opened the first store of what was to become The May Department Stores Company in Leadville, Colo., a silver-mining boom town. May headquarters moved to St. Louis in1905. 1910 the May Department Stores Company was incorporated. Earnings were $1 million. The company was listed on the New York Stock Exchange in 1911. In St. Louis, May acquired the William Barr Dry Goods Company and combined it with The Famous Clothing Store to form Famous-Barr. May Merchandising Company was formed under the original name of The Sostman Mercantile Company and became May Merchandising in 1969. The May Department Stores Company operates six regional department store divisions in the United States. . May Department Stores Company is more diverse than it’s direct competitors, Dillard’s Inc., Federated Department Stores Inc. and Saks Inc.. The department store divisions are Lord Filene's and Kaufmann's; Robinsons-May and Meier Hecht's and Strawbridge's; Foley's, and Famous-Barr, L.S. Ayres and The Jones Store. As of January 31, 2004, May operated 444 department stores in 36 states and the District of Columbia. May National Bank of Ohio, an indirect subsidiary, extend credit to customers of May's six department store divisions. May Merchandising Company, an indirect subsidiary, works closely with its six department store divisions and merchandise vendors to communicate emerging fashion trends and to develop merchandise assortments. In addition to its department stores, May's Bridal Group operates 210 David's Bridal stores, 460 After Hours Formalwear stores and 1 0 Priscilla of Boston stores. In July 2004, the Company acquired the Marshall Field's department store group from Target Corporation. May Department Stores Company is a collection of some of the most well-respected names in the retail busines... Free Essays on Finanical Analysis Free Essays on Finanical Analysis Financial Analysis The May Department Stores Company May Department Stores Company began in 1877, David May opened the first store of what was to become The May Department Stores Company in Leadville, Colo., a silver-mining boom town. May headquarters moved to St. Louis in1905. 1910 the May Department Stores Company was incorporated. Earnings were $1 million. The company was listed on the New York Stock Exchange in 1911. In St. Louis, May acquired the William Barr Dry Goods Company and combined it with The Famous Clothing Store to form Famous-Barr. May Merchandising Company was formed under the original name of The Sostman Mercantile Company and became May Merchandising in 1969. The May Department Stores Company operates six regional department store divisions in the United States. . May Department Stores Company is more diverse than it’s direct competitors, Dillard’s Inc., Federated Department Stores Inc. and Saks Inc.. The department store divisions are Lord Filene's and Kaufmann's; Robinsons-May and Meier Hecht's and Strawbridge's; Foley's, and Famous-Barr, L.S. Ayres and The Jones Store. As of January 31, 2004, May operated 444 department stores in 36 states and the District of Columbia. May National Bank of Ohio, an indirect subsidiary, extend credit to customers of May's six department store divisions. May Merchandising Company, an indirect subsidiary, works closely with its six department store divisions and merchandise vendors to communicate emerging fashion trends and to develop merchandise assortments. In addition to its department stores, May's Bridal Group operates 210 David's Bridal stores, 460 After Hours Formalwear stores and 1 0 Priscilla of Boston stores. In July 2004, the Company acquired the Marshall Field's department store group from Target Corporation. May Department Stores Company is a collection of some of the most well-respected names in the retail busines...

Article review 2 Essay Example | Topics and Well Written Essays - 500 words

Article review 2 - Essay Example rules and concepts that govern the field of accounting as the basic accounting  principles and guidelines that form the basis for Financial Accounting Standards Board (FASB) and the Generally Accepted Accounting Principles (GAAP). The article notes the requirement and importance of using the generally accepted accounting principles in the preparation of financial statements. The GAAP ensures professionalism, consistency,  and uniformity in accounting. However, the article notes that GAAP have become more complex over the years because financial transactions have become more complex. The article recognizes ten basic accounting principles and guidelines that form the basis of the Generally Accepted Accounting Principles. They include the economic entity assumption, monetary unit assumption, time period assumption, cost principle, full disclosure principle, going concern principle, matching principle, revenue recognition principle, materiality, and conservatism principle (Accounting Coach 1). I agree with the article’s position and insight on the basic accounting principles and guidelines for various informed reasons. Indeed, all financial statements must comply with the set rules and standards to reflect professionalism, consistency, and uniformity in accounting. Public organizations must present financial statements to the shareholders and directors quoting the Generally Accepted Accounting Principles used to reach at such financial positions. The use of such principles is significant in accounting since the operations, shareholders, and directors of public companies emanate from all over the world hence the need for a standardized code of accounting to represent the diverse backgrounds of the concerned parties. This is also significant in comparing different public companies. The ten basic accounting principles and guidelines relevantly encompass all the financial aspects and needs of any business entity, big or small. The points discussed in the article,

Economy Assignment Essay Example | Topics and Well Written Essays - 5250 words

Economy Assignment - Essay Example We know that exchange rate is influenced by the demand of the particular currency. Sterling exchange rate against Yen has shown significant growth in the first quarter of year 2002. It indicates that the demand of the Sterling have grown against Yen. In the year 2003 Yen have appreciated against Sterling. In reviewing the exchange rate on a broader base than quarterly it is evident that although although 2000 was a year of decline for the Sterling against the Yen, there was a remarkable jumps in the first quarter of 2001 which saw the quarter ending at the same rate per se as the first quarter of 2000 (the quarter in which we began the analysis.) In total for year 2001 the Sterling saw no depreciation against the Yen. After its approximate 12 point jump between the 4th quarter of 2000 and the 1st quarter of 2001, the remainder of the year saw slight growth. Then although not as dramatic as was the 10 point leap between 4th quarter of 2001 and the 1st quarter of 2002. During 2002 saw the first depreciation in the Sterling of approximately 4 points in quarter 2 where it remained constant through the 3rd quarter. Again in between quarter 3 of 2002 and the 4th quarter of 2002 the Sterling gained almost 8 points before dropping slightly in the 1st quarter of 2003 only to moderate in the 2nd quarter and then steadily decline through the end of the quarter. A noticeable factor during the four year analysis other than quarter fluctuations the last quarter of 2003 ended with the Sterling just shy of gaining 15 points against the Yen. Figure 1 As we can see from the graph above, the Sterling exchange rates have depreciated to its minimum during the fourth quarter of year 2000. It was the period when the Iraq war had impacted the global economy as a whole and was not in particular related specifically to the Yen. In the year 2001 it has shown slow and steady growth. The value ranged 172.26 to 178.45 with a growing pattern. During the first quarter of year 2002 it was a good jump in the value of sterling against Yen with an increase realization of almost 12. It was 188.79. This value depreciated in the next two quarters. The fourth quarter of the same year it was maximum of all the four years. The fluctuation pattern of the Sterling exchange rate in the year 2003 has been of depreciation. The Sterling value has increased to 191.9 in the quarter 2 of the 2003 which was higher than the first quarter which again depreciated sharply in the next two quarters. The Sterling Exchange Rate against The Japanese Yen 2000-2003 Quarter 1 Quarter 2 Quarter 3 Quarter 4 2000 171.99 163.52 159.19 158.89 2001 172.26 174.19 174.67 178.45 2002 188.79 185.29 184.85 192.42 2003 190.67 191.9 189.14 185.64 Source: Economic Trends (2004), Table 6.1, P126 Table 1: Sterling Exchange Rate against Japanese Yen Year 2000-2003 b. Provide an analysis of the possible causes of exchange rate appreciation of Sterling against Yen.(20 Marks) (a n b 1250 words) Answer: The fluctuation of the value of any currency means appreciation or depreciation of the value of the currency against the other currency. The cause of fluctuation of any currency