IT Governance in the School of Professional and Continuing Education Dissertation

IT Governance in the School of Professional and Continuing Education Of ABC University - Dissertation Example The world of business is becoming more and more digital, computer-based, and interconnected by a network and accessible to the national and global communities. It is imperative for an organization like the ABC University to see the value of Information Technology (IT) as a strategic resource so that all investments related to IT will have maximum returns in terms of increasing the value of the school in the minds of society. Nicholas Carr (2003, p.1), Harvard Business Review Editor, believes that as a result of ready availability of IT resources, the key purpose of IT has ceased to be for purposes of discovering opportunities and gaining competitive advantages. Instead, he says it should â€Å"focus on reducing risk† (p.1). This means having good governance of security for the data and minimizing costs of maintaining and utilizing IT for strategy development. Rajiv Kohli and Sarv Devaraj (2004, p. 53) recommended 4 phases that will give value to IT, and called it the AIAC Fram ework. This stood for the processes of Alignment, Involvement, Analysis, and Communication. Details of the each process are shown in the appended AIAC Framework Model. See Figure 1. In the course of research, analysis, and planning, the ABC University IT Governance will be reviewed in terms of the processes in this framework. Although there are many other frameworks that are available, the AIAC will be utilized primarily because it aims to quantify the value of IT governance. However, there will be modifications to include those recommended by other frameworks and are not found in the ALAC framework. Information technology serves the role of a strategic partner instead of only a technology provider. The IT Governance Institute (ITGI, 2003) believes that effective IT Governance helps to ensure that IT supports business goals and optimizes business

Prospect Theory Essay Example | Topics and Well Written Essays - 1000 words

Prospect Theory - Essay Example ranked based on the level of preference to the consumer despite the notion that utility derived from goods cannot be measured (Kahneman and Amos 265). The sum spent on a good or service is used to measure the utility since a rational consumer is bound to spend more on a good if the resulting marginal utility is less than that of another preferred good. Notably, the marginal utility of a specified good is related to its price. The two theories are dependent on different principles. The expected utility theory is based on the expectations, asset integration, and risk aversion. The expectation can be defined as the anticipated utility of an outcome that depends on the price of an item or service. Asset integration results to the measurement of the utility through the prospect of a consumers assets (Kahneman and Amos 266). Utility from one asset alone should exceed the utility of the other assets. Risk aversion shows the level of risk that a consumer is willing to undertake for a defined item. It is equal to the concavity of the utility function. On the other hand, prospect theory is based on principles such as the measurement of gains and losses. The principles lead to a two-way process that involves the editing and evaluation of a consumers defined situation. During the editing stage, a consumer uses a personal reference point to make adjustments on wealth based on the choice being made. As a result, consumers tend to be reluctant to adjustments known as gain and prefer losses to make their final decision. During the evaluation phase, the consumer will tend to prefer likely events and defer the likely events. Utility is the computed value of evaluation that is based on respective probabilities sand the potential outcomes (Kahneman and Amos 266). Decision makers in the utility theory are consistent and ordered. They can also rank their choices based on their current situations and attractiveness of each alternative. Preferences cannot be the nature of the choice

Homosexual Couples Essay Example for Free

Homosexual Couples Essay Children adopted by homosexual parents will become targets of homophobic bullying. According to a teacher’s association in the United Kingdom specializing on teaching issues, homophobic bullying â€Å"can affect any young person, for example, someone with gay family members† (Association of Teachers and Lecturers, 2006). The teacher’s association points out that having homosexual parents is enough to engage homophobic behavior. This form of bullying not only persists but worsens throughout the child’s schooling because it is one of the most difficult forms of bullying to notice. The effects of bullying are well known. Leading psychologist Victoria Clarke, among others, notes that homophobic bullying in particular â€Å"is a serious problem that carries many severe psychological consequences† (Clarke, 2006). Victims of teasing and bullying often are often shy and keep to themselves. Most victims of bullying have a hard time communicating to others and have many relationship problems, as a direct result of the the violence that they experience. What these children actually learn from their experiences is that self-expression can lead to actual physical harm. This necessarily puts a financial strain on the family of those suffering from bullying. It frames the self-esteem of these victims to such an extent that they fail to overcome a mindset where they think that they are victims. They then fail to take positive control of their lives and often spiral into depression. Those who support adoption by homosexual parents center their argument on studies that show that homosexual parenting has no negative effects on children. These arguments overlook the fact that what is important is the best interest of the child. These studies do not take into account the other indirect negative effects of being raised by homosexuals, like being more vulnerable to sexual abusers – not that the parents themselves would abuse their children – but these children are more likely to come into contact with other homosexuals who are sexual predators. According to the Family Research Institute, â€Å"all to almost all childhood molestations of boys are made by adults of the same sex with homosexuals accounting up to more than one third of the pedophiles under studies made as early as 1948† (Cameron, 2006). It is not far to imagine that of the many homosexuals that these children may be exposed to, at least one may try to sexually abuse them. This is a scary number that should not be ignored. Although I do not suggest that all homosexuals are pedophiles, it cannot be ignored that these pedophiles are almost entirely gay. This link between homosexuality and sexual abuse is well-documented by critics such as Charles Coughlin, who claims that â€Å"[a]s early as 1948, the Kinsey survey revealed that 37% of homosexual men admitted to having sexual relations with underage boys; and if gay men were admitting these crimes in 1948, when society was far more conservative, what would the numbers be today when people are more tolerant of gay relationships? † (Coughlin, 2006). The increasingly liberal attitude society has taken since 1948 points toward an even larger number of sexual predators who come into contact with our children. Thus, more lives are at stake than what we realize. We have to remember it only takes one encounter with a sexual predator before an innocent child’s life is changed forever. It is clear that allowing homosexuals to adopt children is not in any child’s best interest and should be disallowed. In no instance should a child be exposed to sexual predators. Children deserve to be brought up in a home environment where there is a balance of male and female influences. Finally, being adopted by homosexual parents exposes the adopted child to homophobic bullying which is not only traumatic, but harmful to a child’s proper physical, emotional, and psychological development. Sources:Hayton, Bradley, 1993. To Marry or Not: The Legalization of Marriage and Adoption of Homosexual Couples at http://radiance. m6. net/myrrh/doc-samesx. html Cameron, Paul, 2006. Child Molestation and Homosexuality. at http://www. familyresearchinst. org/FRI_EduPamphlet2. html Coughlin, Charles, 2006. 37% of Gay Men Admit Molestation at http://www. whitecivilrights. com/37-of-gay-men-admit-molestation_611. html Dailey, Timothy. â€Å"Homosexual Parenting: Placing Children at Risk,† Insight 238, Family Research Council, http://www. frc. org/get. cfm? i=IS01J3. Wardle, Lynn D. 1997. â€Å"The Potential Impact of Homosexual Parenting on Children. † Universityof Illinois Law Review 1997:833–919. p, 860 cited in (How) Does the Sexual Orientation of Parents Matter? † Judith Stacey and Timothy J. Biblarz at http://www. e-noah. net/ASA/MO/articles/stacey. pdf Sotirios Sarantakos. 1996. Children in three contexts: Family, education and social development, Children Australia, Vol. 21, No. 3, (1996): pp. 23-31 at http://www. acl. org. au/pdfs/load_pdf_public. pdf? pdf_id=586from=SEARCH Clarke, Victoria, et. al. 2004. Kids are just cruel anyway: Lesbian and gay parents talk about homophobic bullying. British Journal of Social Psychology, Volume 43, Number 4 Association of Teachers and Lecturers, 2006. Different forms of bullying. http://www. new2teaching. org. uk/tzone/Behaviour/pupil_bullying/different_forms. asp

Benefits of Cross Border Mergers and Acquisitions

Benefits of Cross Border Mergers and Acquisitions In the process of businesses creating or building shareholder value, they the management are motivated to undertake cross border mergers and acquisitions in other to expand their operations which will then generate greater profits or potential for owners (shareholder) value creation than that of internal growth. Cross-border mergers and acquisitions (MA) internationally have played a key part in this issue of globalisation or global activity of growth and expansion. When firms and companies otherwise known as enterprises continually increase in size, they tend to look for more funding or capital from outside their territory (locality) or country of operation which may not be readily available in their home country of operation to further advance their growth and expansion drive. And this particularly involves transnational firms such as HSBC, British Petroleum (BP), Vodafone and Shell for example taking over companies or businesses in other countries by parting away with huge sums of money. According to Krekel et al.(1969) mergers usually involve businesses or corporations of same or equal size, whilst the acquiring firm in the case of acquisitions tends to be bigger or larger. According to recent trends in cross border mergers and acquisitions (MA), most of these Multinational Enterprises (MNEs) move to emerging markets in order to take charge or buy controlling interest in those markets. The creation of the European Union (EU) internal market on 31 December 1992 (which seeks to remove trade barriers among member nations) brought about influx of US, Japanese and EU companies holding market positions in EU. And thus the late nineties witnessed more MA involving both local and International partners, with mega mergers between multinationals like DaimlerChrysler and Exxon-Mobil, which transformed global market competition. During this period many businesses in emerging markets were privatised thus creating growth opportunities for MNEs to gain access to previously closed markets of enormous potential. The United Nations Conference on Trade and Development (UNCTAD, 1998) unfold the driving forces behind cross border MA as per current globalisation. Practitioners of cross border MA deals encourage deregulation or diversification and liberation of the local and state owned businesses or enterprises, thus affording foreign enterprises or businesses in advanced economies to invest directly, joint venture ship or partnership or even outright take over (UNCTAD, 1999) This paper will try to address the significant benefits and also some pitfalls of cross border, mergers and acquisitions as pertaining to global market growth and expansion of Multinational Enterprises (MNEs) or businesses. UNCTAD, 1999 reports that the transition host nation in a greenfield investment or mergers and acquisition stands to benefit in resources or technology. For instance the flow of foreign direct investment to a transition host nation will boost its foreign reserves (Gross domestic product). A clear example is the take over of Cadbury UK plc by Kraft Company which undervalued these shares (Cadbury) but yet invested in excess of Nineteen billion pounds (Â £19) into the UK economy in the midst of the global economic crunch. According to Razin et al (1998), low level of taxes or incentives in some European Union (EU) countries, prompted Investors within UK, to move their production wing of their firms from the UK to E U countries in order for these firms to enjoy stron ger market positions. Investors usually consider tax issues before deciding on where to invest or move their investments to. Many a times, investors favour or decide on nations where the tax laws and policies are relaxed thus favouring their cause in terms of releasing their investment back with maximum gain. Hitt et al (2001 a,b) described acquisition as the process by which controlling stake in a business enterprise or venture is purchased by another larger firm via an open market or on an exchange. Acquisition which is otherwise known as Takeover occurs when majority shares or stake in an organisation is purchased by another bigger firm. By this, the bigger firm take control or charge of the assets as well as the liabilities of this target business which now becomes its subsidiary. Hitt et al (2000) further saw merger as the situation where two or more smaller corporations decide to pull their resources together in order to become a giant leader in their industry or market. When this happens, a new corporate identity will adopted thus both companies will drop their old or individual identities and put on the new one after an agreement has been reached amongst the parties involved. A clear example will be the ongoing merger agreement being entered into by British Airways and Iberial Air lines which aftermath will birth a new corporate identity and image as agreed upon by the parties involved. Another example is that of GlaxoSmithKline which involved synergy between two pharmaceutical firms namely Glaxowellcome and Smithkline Becham that merged to form the second largest pharmaceutical company in Europe. It is worthy to note that synergy will provide more gain since the two companies stands to produce more when they are together through sharing of ideas and technical know how than being on their own as individual. Thus the equation of one plus one equalling three came to being (synergy theory) through merger and acquisition as beneficial to the two firms that came together as one entity or under one umbrella. Again these large companies or businesses with global repute or stature enjoy tremendous benefits in the area reduction in prices, increasing control of market and economies of scale. According to Fatemi et al (1988), even though introducing cross border MA in a near perfect market situation, the owners of the business may not enjoy dividends as per from local operation and this varied valuations for local and international mergers will seek to uncover the imperfect capital market dealings. Pringle (1991) stressed that market accessibility is the main rationale for foreign direct investment. To add to this Harris et al (1991) further elude to the fact that giant or larger companies or firms join with other firms in other nations simply to access their foreign market share. In other words it aids in its saturation into new areas or segments of other markets with no restrictions whatsoever and in addition access credit facilities whilst enjoying tax rebates reserved for local businesses. HOW CROSS BORDER MERGERS AND ACQUISITIONS ARE DETERMINED Investors are always drawn to or interested in investing in high flying corporations who are consistent and increasingly growing and engaging in expansion drive of their various businesses or business units. Growth and expansion performance of businesses may be as a result of good corporate governance practices and policies adopted by or from the side of Management of that firm in line with that of the growing target market. In the words of Cheng et al (1989) and that of Moore (1996), overseas business owners or investors enjoyed high returns on their investments after being encouraged to put or invest their wealth in financial institutions (bank), outside the United States for the simple reason of their good financial health thus, favourable growth rates and high turnover in assets and expansion drive. Among other factors that positively influence cross border dealings in emerging economies like that of Africa, Eastern Europe and South America is profitability and efficiency that st ands out as the number one reason. Financiers and investors from both the United States of America and United Kingdom channel their wealth to some financial institutions (banks) and other businesses in these regions via direct investments or mergers. Hannan et al (2007), Vander (2007) and Pasiouras et al (2007) all consented that investors from the United States will shy away from investing their wealth in those financial institutions that constantly make a deficit after they (investors) have critically scrutinised and reviewed the said financial data, profitability and investor ratios before choosing the right venture to invest in, in order to maximise their wealth. In the words of Hannan et al (2007) a lot of mergers and cross border acquisition happen due to the challenges businesses go through in sourcing for more funds or capital to expand their businesses. Hannan et al (2007) again said many of the larger financial institution (banks) and companies exploit the option of target ing emerging markets in terms of investing their resources when considering expanding their corporations. The results from this movement by the larger companies will better advance the economies of these target countries where the small firms are located for which takeover occurred since the cost involved in business transaction will be drastically reduced due to the size and capital base of these larger firms. Among other things, cross border mergers and acquisition can occur where there is concentration of similar businesses such as banks in a catchment area or region. Businesses like banks and stores according to Hannan et al (2007) would always want to take their services and operations to the door steps of the clients, thus concentrating on high streets and other prime locations to better meet their clients need as can be attested in the United Kingdom (UK). Another point worth considering in this determinant of cross border acquisition and merger is Taxation. As with most countries, local companies enjoy tax reliefs or exemptions for awhile whilst foreign companies are made to pay income tax on their local business enterprise as well as foreign income tax. In the words of Scholes et al. (1990), Servaes et al. (1994) and Desai et al. (2002), investors within advanced economies or markets who pay higher taxes tend to invest overseas where they avoid tax and enjoy exemption from foreign or overseas income. For this reason several indices were created by La porta et al. (1998), useful for eper this larger created affiliation. In these indices there is also rule of law and efficient judiciary process thus ensuring that the rights of individuals are respected by all and sundry. In the same vein, Johnson et al. (2000) agreed with the above statement with emphasis on minority shareholders whilst the rights of creditors should be enforced when f irms default in their payments after notices are served. And last but not the least, there must be fair treatment within the confines of the laws or regulations with respect to company directors (Executive and non executive directors). LIMITATIONS It is important to note that cross-border acquisitions and mergers are not, however, without pitfalls. Irrespective of acquisition being domestic or cross-border, investors experience problem of over paying thus suffering excessive financing costs (Eiteman et al., 2004 pg. 590). Merging corporate cultures between a local firm and an overseas one becomes a problem since regulations for example like governance practices might differ from country to country. Managing the aftermath of cross-border merger and acquisition process is normally characterised by retrenchment to achieve economies of scale and scope in overhead duties or functions. The outcome of this is unproductiveness among employees of the target company who fear of losing their jobs or been laid off. For example the take over of Ghana Telecom by Vodafone in January 2009 saw more than thousand workers being laid off. And their new Chief Executive Kyle Whitehill indicates that further restructuring is necessary to ensure that the company is able to deliver prudent returns Source: Joy Business/Myjoyonline.com/Ghana (July 29, 2010). Even for some top executives, for fear losing their jobs become uncooperative when it comes to merger and takeover talks. United Kingdoms example is the aftermath of takeover of Cadbury UK by Kraft plc from United States which saw the downsizing of over four hundred of its employees after the production plant or unit in UK was relocated in Poland to reduce labour and operative costs. In the words of Hadlock et al (1999), company bosses or executives, for fear of losing their jobs after the takeover will conceal some vital information or be reluctant to provide important data that will aid the investors to properly come to a decision as to whether to invest or not in a target business. Globally, additional problems occur from the part of host countries where their government intervene in price discrimination, financing, employment guarantees, segmentation and general nationalism and favouritism which includes capital flight and corrupt practises by foreign investors with the help of personnel in state departments from target nation (see Eiteman et al., 2004 pg. 590). An example is the Quality Grain Scandal in Ghana where some ministers connived with foreign investors to cause financial loss to the state is seen as the most corrupt deal in the country (Source: newsinghana.com). Also the preparation of final accounts might differ from country to country thus it is advised that there must be consistency in its preparation among subsidiaries of that holding company for easy comprehension. For some countries among emerging economies, the host government creates its own standards which differs from that of developed economies for example United States where private sectors and the Government set up GAAP with other principals and standards. Radebaugh et al (1997), Choi et al (1991) and Land et al (2000) all confirmed the differences in the way financial statements are prepared in US, UK and other European countries with makes it difficult for entrepreneurs to understand and compare with similar statements (profit and loss) within sector. According to Ali et al (2000) and Ball et al (2000), Germany lacks in the preparation of returns such that investors or entrepreneurs request for more insight to facts from host nations outside that of the financial report. Anoth er area worth considering is disclosure policy pertaining to corporate governance. Unlike the US and UK where disclosure in corporate governance is held in high esteem, that of emerging countries is very low. For instance some public companies and their private counterparts in these emerging refuse to practise international accounting standards been accepted globally and for that reason are reluctant to fully disclose information freely to prospective investors or other third parties (see UNCTAD 2000). In fact, the ability to successfully complete cross-border acquisition may itself be a test of competency of the MNE in the twenty first century (see Eiteman et al. (2004) pg. 590). SIGNIFICANT ADVANTAGES OF CROSS-BORDER MERGER AND ACQUISITION CONCLUSION Finally, managers tend to take uneconomical plans of takeovers. Sometimes, the motives for takeover decisions by managers may be attributed to availability of free cash flow or for no just cause. The number and dollar value of cross border mergers and acquisitions has grown rapidly in recent years but the growth and magnitude of activity is taking place in the developed countries, not the developing countries. As opposed to the fighting and scraping for market share and profits in traditional domestic markets, a MNE can expect greater growth potential in the global marketplace. There are a variety of paths by which the MNE can enter foreign markets, including Greenfield investment and acquisition. The drivers of MA activity are both macro (the global competitive environment) and micro in scope (the variety of industry and firm-level forces and actions driving individual firm value). The primary forces of change in the global competitive environment technological change, regulatory change, and capital market change create new business opportunities for MNEs, which they pursue aggressively.

Science and Morality in Shelleys Frankenstein - Consequences of Technology :: Frankenstein essays

The Consequences of Technology Revealed in Shelley's Frankenstein      Ã‚  Ã‚   In Mary Shelley’s Frankenstein, written in the late nineteenth century, the author proposes that knowledge and technology can be dangerous to individuals and all of humanity.   Frankenstein was one of the first cautionary tales about scientific research.   Shelley's novel offers profound insight of the consequences of morally insensitive scientific and technological research.    Learn from me. . . at least by my example, how dangerous is the acquirement of knowledge and how   much happier that man is who believes his native town to be the world, than he who aspires to become greater than his nature will allow (Shelley 101)      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The popular belief of how Frankenstein came to be written derives from Shelley herself, who explains in an introduction to the novel that she, her husband Percy Shelly, and Lord Byron set themselves the task of creating ghost stories during a short vacation at a European villa.   According to Shelley, the short story she conceived was predicated of the notion as the eighteenth became the nineteenth century that electricity could be a catalyst of life.   In her introduction she recalls the talk about Erasmus Darwin, who had preserved a piece of vermicelli in a glass case, till by some extraordinary means it began to move with voluntary motion," (Joseph vii).   The extraordinary means forms the basis for Frankenstein.   Many people also believe that a nightmare that Mary Shelley had could also be partly responsible for the creation of the novel.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   At the time the novel was written, England was on the brink of leading the Industrial revolution in Europe.   The experiments of Huntsman (crucible steel manufacture), Newcome (steam-powered pumps), and Cochrane (coal tar production) throughout the eighteenth century in England were decisive in the initial transformation of England into an industrialized country (Burke 137, 173, 195).   The emerging age of technology appears to have found followers throughout the culture and to have become firmly reinforced by the time   Frankenstein was written.   Eric Rabkin (author), says that in England early in the eighteenth century, "there exist a populous discourse community that accepted the rhetoric of science" (Rabkin 39).   This rhetoric has proof extending back to the English Renaissance. Those sensitive to change and those prepared to embrace a rhetoric of change need not be scientists.   While scientists address a discourse community of scientists, novelists   Ã‚   address a wider discourse community of the literate.   If we can accept the earlier   argument that science and poetry are not ontologically antagonistic, then we might well hope to find fictional uses of the rhetoric of science . Science and Morality in Shelley's Frankenstein - Consequences of Technology :: Frankenstein essays The Consequences of Technology Revealed in Shelley's Frankenstein      Ã‚  Ã‚   In Mary Shelley’s Frankenstein, written in the late nineteenth century, the author proposes that knowledge and technology can be dangerous to individuals and all of humanity.   Frankenstein was one of the first cautionary tales about scientific research.   Shelley's novel offers profound insight of the consequences of morally insensitive scientific and technological research.    Learn from me. . . at least by my example, how dangerous is the acquirement of knowledge and how   much happier that man is who believes his native town to be the world, than he who aspires to become greater than his nature will allow (Shelley 101)      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The popular belief of how Frankenstein came to be written derives from Shelley herself, who explains in an introduction to the novel that she, her husband Percy Shelly, and Lord Byron set themselves the task of creating ghost stories during a short vacation at a European villa.   According to Shelley, the short story she conceived was predicated of the notion as the eighteenth became the nineteenth century that electricity could be a catalyst of life.   In her introduction she recalls the talk about Erasmus Darwin, who had preserved a piece of vermicelli in a glass case, till by some extraordinary means it began to move with voluntary motion," (Joseph vii).   The extraordinary means forms the basis for Frankenstein.   Many people also believe that a nightmare that Mary Shelley had could also be partly responsible for the creation of the novel.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   At the time the novel was written, England was on the brink of leading the Industrial revolution in Europe.   The experiments of Huntsman (crucible steel manufacture), Newcome (steam-powered pumps), and Cochrane (coal tar production) throughout the eighteenth century in England were decisive in the initial transformation of England into an industrialized country (Burke 137, 173, 195).   The emerging age of technology appears to have found followers throughout the culture and to have become firmly reinforced by the time   Frankenstein was written.   Eric Rabkin (author), says that in England early in the eighteenth century, "there exist a populous discourse community that accepted the rhetoric of science" (Rabkin 39).   This rhetoric has proof extending back to the English Renaissance. Those sensitive to change and those prepared to embrace a rhetoric of change need not be scientists.   While scientists address a discourse community of scientists, novelists   Ã‚   address a wider discourse community of the literate.   If we can accept the earlier   argument that science and poetry are not ontologically antagonistic, then we might well hope to find fictional uses of the rhetoric of science .

Effects of the War on the Students of Devon in A Separate Peace Essay

Effects of the War on the Students of Devon "Looking back now across fifteen years, I could see with great clarity the fear I had lived in, which must mean that in the interval I had succeeded in a very important undertaking: I must have made my escape from it" ( Knowles 5). In this novel A Separate Peace, using these words, John Knowles reveals the fear that haunts the students at Devon and when they proceeded with all their training for the war they mature into adults. A Separate Peace shares the lives of students at Devon that are forced into an unknown world of fear, problems, and uncertainty as they head off to World War II in training to fight and represent their country where they will find or lose themselves and make important decisions that will impact their future. The students at Devon are put into adulthood at an early age, having to fight and make their country proud, but they are left feeling pressure for a war they do not start. The students enter a world of unexpectedness and dread where they are forced into adulthood through war, and are exposed to self sacrifice, physical awareness, and patriotism. Self-sacrifice is a major value that effects the students of Devon as they decide to enlist and sacrifice their luxuries. The students are faced with the unfamiliar pressures of the adult world where they must sacrifice themselves for the good of their country. For example, when a recruiter comes to Devon to encourage the students to join the ski-troops in the army, Leper Lepellier decides to enlist because even though he fears the war he knows he is pressured to make a decision ( where to enlist ) and this is one war job, he can execute. Leper , a loner, has finally found wh... ... and in doing so represent their country even more. Trying to be patriotic becomes hard for Brinker when his father wants him not to embarrass himself and do more for the country because Brinker feels that his father doesn?t understand that he is afraid to go to war. Brinker says", He and his crowd are responsible for it and we're going to fight it " (190). This quote shows how agitated Brinker is with his father for trying to tell him to accomplish more in a dangerous war, that Brinker wants nothing to do with, that can possibly lead to his own death. To sum up, patriotism is a necessity in going to war and representing the country because it shows feelings from the fighter to his or her country. To sum up, the boys at Devon have endured a lot as teenagers. They are faced with pressures and values that cause them to develop into adults, at an early age. Effects of the War on the Students of Devon in A Separate Peace Essay Effects of the War on the Students of Devon "Looking back now across fifteen years, I could see with great clarity the fear I had lived in, which must mean that in the interval I had succeeded in a very important undertaking: I must have made my escape from it" ( Knowles 5). In this novel A Separate Peace, using these words, John Knowles reveals the fear that haunts the students at Devon and when they proceeded with all their training for the war they mature into adults. A Separate Peace shares the lives of students at Devon that are forced into an unknown world of fear, problems, and uncertainty as they head off to World War II in training to fight and represent their country where they will find or lose themselves and make important decisions that will impact their future. The students at Devon are put into adulthood at an early age, having to fight and make their country proud, but they are left feeling pressure for a war they do not start. The students enter a world of unexpectedness and dread where they are forced into adulthood through war, and are exposed to self sacrifice, physical awareness, and patriotism. Self-sacrifice is a major value that effects the students of Devon as they decide to enlist and sacrifice their luxuries. The students are faced with the unfamiliar pressures of the adult world where they must sacrifice themselves for the good of their country. For example, when a recruiter comes to Devon to encourage the students to join the ski-troops in the army, Leper Lepellier decides to enlist because even though he fears the war he knows he is pressured to make a decision ( where to enlist ) and this is one war job, he can execute. Leper , a loner, has finally found wh... ... and in doing so represent their country even more. Trying to be patriotic becomes hard for Brinker when his father wants him not to embarrass himself and do more for the country because Brinker feels that his father doesn?t understand that he is afraid to go to war. Brinker says", He and his crowd are responsible for it and we're going to fight it " (190). This quote shows how agitated Brinker is with his father for trying to tell him to accomplish more in a dangerous war, that Brinker wants nothing to do with, that can possibly lead to his own death. To sum up, patriotism is a necessity in going to war and representing the country because it shows feelings from the fighter to his or her country. To sum up, the boys at Devon have endured a lot as teenagers. They are faced with pressures and values that cause them to develop into adults, at an early age.

Business Finance

Multinational Business Finance, 12e (Eiteman, et al) Chapter 1 Globalization and the Multinational Enterprise 1. 1 Globalization and Creating Value in the Multinational Enterprise Multiple Choice 1) Which of the following are critical to a firm trying to reach the top of the â€Å"firm value pyramid†? A) An open market place. B) High quality strategic management. C) Access to capital. D) all of the above Answer: A Diff: 2 Topic: 1. 1 Globalization and Creating Value in the Multinational Enterprise Skill: Conceptual 2) A well-established, large U.S. -based MNE will probably NOT be able to overcome which of the following obstacles to maximizing firm value? A) An open market place. B) High quality strategic management. C) Access to capital. D) none of the above Answer: D Diff: 2 Topic: 1. 1 Globalization and Creating Value in the Multinational Enterprise Skill: Recognition 3) A well-established, large China-based MNE will probably be most adversely affected by which of the follow ing elements of firm value? A) An open marketplace. B) High-quality strategic management. C) Access to capital.D) Access to qualified labor pool. Answer: A Diff: 2 Topic: 1. 1 Globalization and Creating Value in the Multinational Enterprise Skill: Conceptual 4) A well-established, large, Brazil-based MNE will probably be most adversely affected by which of the following elements of firm value? A) An open marketplace. B) High-quality strategic management. C) Access to capital. D) Access to qualified labor pool. Answer: C Diff: 2 Topic: 1. 1 Globalization and Creating Value in the Multinational Enterprise Skill: Conceptual True/False ) Three necessary conditions for a firm to reach the top of the â€Å"firm value pyramid† are an open market place, high quality strategic management, and access to capital. Answer: TRUE Diff: 1 Topic: 1. 1 Globalization and Creating Value in the Multinational Enterprise Skill: Conceptual 2) Comparative advantage is one of the underlying principles driving the growth of global business. Answer: TRUE Diff: 1 Topic: 1. 1 Globalization and Creating Value in the Multinational Enterprise Skill: Recognition Essay 1) List and explain three strategic motives why firms become multinationals and give an example of each.Answer: The authors provide 5 strategic motives for firms to become multinationals: market seekers, raw materials seekers, production efficiency seekers, knowledge seekers, and political safety seekers. Market seekers are looking for more consumers for their products such as automobiles or steel. Knowledge seekers may be looking for an educated work force similar to the way firms seeking R and D set up shop in university towns. Raw materials seekers may be after commodities such as oil or copper. Production efficiencies may occur in countries like Mexico that have capable workers and lower wages.Political safety seekers are looking for countries that will not expropriate their assets, so they may stay away from countries that in the post have engaged in such activities. Diff: 3 Topic: 1. 1 Globalization and Creating Value in the Multinational Enterprise Skill: Conceptual 1. 2 The Theory of Comparative Advantage Multiple Choice 1) The theory that suggests specialization by country can increase worldwide production is ________. A) the theory of comparative advantage B) the theory of foreign direct investment C) the international Fisher effect D) the theory of working capital managementAnswer: A Diff: 2 Topic: 1. 2 The Theory of Comparative Advantage Skill: Recognition 2) Which of the following is NOT a reason governments interfere with comparative advantage? A) Governments attempt to achieve full employment. B) Governments promote economic development. C) National self-sufficiency in defense-related industries. D) All are reasons governments interfere with comparative advantage. Answer: D Diff: 2 Topic: 1. 2 The Theory of Comparative Advantage Skill: Recognition 3) Which of the following factors of p roduction DO NOT flow freely between countries? A) Raw materialsB) Financial capital C) (Non-military) Technology D) All of the above factors of production flow freely among countries. Answer: A Diff: 1 Topic: 1. 2 The Theory of Comparative Advantage Skill: Recognition 4) Which of the following would NOT be a way to implement comparative advantage? A) IBM exports computers to Egypt. B) Computer hardware is designed in the United States but manufactured and assembled in Korea. C) Water of the greatest purity is obtained from wells in Oregon, bottled, and exported worldwide. D) All of the above are examples of ways to implement comparative advantage.Answer: D Diff: 2 Topic: 1. 2 The Theory of Comparative Advantage Skill: Conceptual 5) Of the following, which would NOT be considered a way that government interferes with comparative advantage? A) Tariffs. B) Managerial skills. C) Quotas. D) Other non-tariff restrictions. Answer: B Diff: 2 Topic: 1. 2 The Theory of Comparative Advantage Skill: Recognition True/False 1) The theory of comparative advantage owes it origins to Ben Bernanke as described in his book The Wealth of Bankers. Answer: FALSE Diff: 1 Topic: 1. 2 The Theory of Comparative Advantage Skill: Recognition ) International trade might have approached the comparative advantage model in the 19th century, and it does so even more today. Answer: FALSE Diff: 2 Topic: 1. 2 The Theory of Comparative Advantage Skill: Conceptual 3) Comparative advantage shifts over time as less developed countries become more developed and realize their latent opportunities. Answer: TRUE Diff: 2 Topic: 1. 2 The Theory of Comparative Advantage Skill: Recognition 4) Comparative advantage in the 21st century is based more on services and their cross border facilitation by telecommunications and the Internet.Answer: TRUE Diff: 1 Topic: 1. 2 The Theory of Comparative Advantage Skill: Recognition 5) Comparative advantage was once the cornerstone of international trade theory, but tod ay it is archaic, simplistic, and irrelevant for explaining investment choices made by MNEs. Answer: FALSE Diff: 2 Topic: 1. 2 The Theory of Comparative Advantage Skill: Recognition 1. 3 What Is Different about Global Financial Management? Multiple Choice 1) Which of the following domestic financial instruments have NOT been modified for use in international financial management? A) Currency options and futures.B) Interest rate and currency swaps. C) Letters of credit. D) All of the above are domestic financial instruments that have also been modified for use in international financial markets. Answer: D Diff: 2 Topic: 1. 3 What Is Different about Global Financial Management? Skill: Recognition True/False 1) MNEs must modify finance theories like cost of capital and capital budgeting because of foreign complexities. Answer: TRUE Diff: 2 Topic: 1. 3 What Is Different about Global Financial Management? Skill: Recognition 1. 4 Market Imperfections: A Rationale for the Existence of the Multinational FirmMultiple Choice 1) In determining why a firm becomes multinational there are many reasons. One reason is that the firm is a market seeker. Which of the following is NOT a reason why market seeking firms produce in foreign countries? A) Satisfaction of local demand in the foreign country. B) Satisfaction of local demand in the domestic markets. C) Political safely and small likelihood of government expropriation of assets. D) All of the above are market-seeking activities. Answer: C Diff: 2 Topic: 1. 4 Market Imperfections: A Rationale for the Existence of the Multinational Firm Skill: Recognition ) ________ investments are designed to promote and enhance the growth and profitability of the firm. ________ investments are designed to deny those same opportunities to the firm's competitors. A) Conservative; Aggressive B) Defensive; Proactive C) Proactive; Defensive D) Aggressive; Proactive Answer: C Diff: 2 Topic: 1. 4 Market Imperfections: A Rationale for the Existen ce of the Multinational Firm Skill: Recognition True/False 1) For firms competing in a world characterized by oligopolistic competition, strategic motives can be subdivided into proactive and defensive investments. Answer: TRUEDiff: 1 Topic: 1. 4 Market Imperfections: A Rationale for the Existence of the Multinational Firm Skill: Recognition 2) Defensive measures are designed to enhance growth and profitability of the firm itself. Answer: FALSE Diff: 1 Topic: 1. 4 Market Imperfections: A Rationale for the Existence of the Multinational Firm Skill: Recognition 1. 5 The Globalization Process Multiple Choice 1) The phase of the globalization process characterized by imports from foreign suppliers and exports to foreign buyers is called the A) domestic phase. B) multinational phase. C) international trade phase.D) import-export banking phase. Answer: C Diff: 2 Topic: 1. 5 The Globalization Process Skill: Recognition 2) The authors describe the multinational phase of globalization for a firm as one characterized by the A) ownership of assets and enterprises in foreign countries. B) potential for international competitors or suppliers even though all accounts are with domestic firms and are denominated in dollars. C) imports from foreign suppliers and exports to foreign buyers. D) requirement that all employees be multilingual. Answer: A Diff: 2 Topic: 1. 5 The Globalization Process Skill: Recognition ) A firm in the International Trade Phase of Globalization A) makes all foreign payments in foreign currency units and all foreign receipts in domestic currency units. B) receives all foreign receipts in foreign currency units and makes all foreign payments in domestic currency units. C) bears direct foreign exchange risk. D) none of the above Answer: C Diff: 2 Topic: 1. 5 The Globalization Process Skill: Conceptual 4) Of the following, which was NOT mentioned by the authors as an increase in the demands of financial management services due to increased globalization b y the firm?A) Evaluation of the credit quality of foreign buyers and sellers. B) Foreign consumer method of payment preferences. C) Credit risk management. D) Evaluation of foreign exchange risk. Answer: B Diff: 2 Topic: 1. 5 The Globalization Process Skill: Recognition 5) Of the following, which was NOT mentioned by the authors as an increase in the demands of financial management services due to increased globalization by the firm? A) Evaluation of the credit quality of foreign buyers and sellers. B) Foreign consumer method of payment preferences. C) Credit risk management.D) Evaluation of foreign exchange risk. Answer: B Diff: 2 Topic: 1. 5 The Globalization Process Skill: Recognition 6) The authors describe the multinational phase of globalization for a firm as one characterized by the A) ownership of assets and enterprises in foreign countries. B) potential for international competitors or suppliers even though all accounts are with domestic firms and are denominated in dollars . C) imports from foreign suppliers and exports to foreign buyers. D) requirement that all employees be multilingual. Answer: A Diff: 2 Topic: 1. 5 The Globalization ProcessSkill: Recognition 7) The twin agency problems limiting financial globalization are caused by these two groups acting in their own self-interests rather than the interests of the firm. A) Rulers of sovereign states and unsavory customs officials. B) Corporate insiders and attorneys. C) Corporate insiders and rulers of sovereign states. D) Attorneys and unsavory customs officials. Answer: C Diff: 2 Topic: 1. 5 The Globalization Process Skill: Recognition True/False 1) Typically, a firm in its domestic stage of globalization has all financial transactions in its domestic currency.Answer: TRUE Diff: 1 Topic: 1. 5 The Globalization Process Skill: Conceptual 2) Typically, a â€Å"greenfield† investment abroad is considered a greater foreign investment having a greater foreign presence than a joint venture with a foreign firm. Answer: TRUE Diff: 1 Topic: 1. 5 The Globalization Process Skill: Recognition 3) The authors argue that financial inefficiency caused by influential insiders may prove to be an increasingly troublesome barrier to international finance. Answer: TRUE Diff: 2 Topic: 1. 5 The Globalization Process Skill: Conceptual