Essay on Immorality of Assassinating Political Leaders

More than thirty-five political leaders have been assassinated since 1825. The assassin and the political leader had different beliefs and ways they thought the government should have been run. It is thought by some, that assassination is the wrong choice to make when it comes to differences in beliefs. There are many reasons why people have different thoughts and actions on controversial subjects. Many people believe that killing is the wrong choice to make because it goes against our legal system, and it leads to social and political chaos. Lastly, killing is never justified based on religious beliefs. First, one of the reasons many people believe that assassination is wrong, because it goes against our legal system. Abraham Lincoln†¦show more content†¦Our thirty-fifth president was killed by Lee Harvey Oswald. His reasoning of taking John F. Kennedy’s life was because of Communism. The next event also went down in assassination history, two days later Oswald was s hot by Jack Ruby as he was heading to the courts. â€Å"Mohandas Gandhi was assassinated by an Indian who resented his program of tolerance for all creeds and religions† (â€Å"Gandhi†). Mohandas Gandhi, a free spirit leader, in the 1900s helped India to be free from the British. He was a discriminated Indian who claimed his life to be treated as a British. During his campaigns he had been arrested many times, went on fasts, and was nonviolent in passing on his religious beliefs. While being in prison for several years, he believed he was there for a good cause. Another reason why assassination is wrong is it could lead to social and political chaos. As an African American minister, Martin Luther King Jr. caused great turmoil in the United States. The immediate shock, grief, and anger throughout the African American community. â€Å"A few months later, the Congress passed the Civil Rights Act of 1968, which prohibited racial discrimination in the South and rental of most housing in the nation† (Garrow). MLK led several protesters from Selma to Montgomery that caused a riot to be broken up by police officers on a nationwide television news. Another political leader that caused social and political chaos is Mohandas Gandhi. Mohandas

Germany And Its Impact On The United States Essay

In the last few centuries, Europe has experienced major changes both in its population makeup and number. Be that as it may, in the last two decades, it has been faced with an unprecedented decline in population growth while struggling with the issue of an aging population. Indeed, from Helsinki to Lisbon, the birth rate has fallen dramatically in recent years. It has fallen so much so that most countries have put together some form of policies to help mitigate what is perceived as a serious demographic crisis in european capitals. Those policies have yielded different results. While some countries like France are now experiencing a slow growth rate as a result of those policies, others in the likes of Germany are forced to still deal with an ever declining population. In this paper, I will be analyzing, comparing, and contrasting the policies in both countries. Since the end of the second world war, Germany has had undeniable economic performances. Unlike its european counterparts, It has extremely low unemployment, record trade surpluses and a healthy public accounts. However, the fact remains that the long term outlook of its population is less positive as its population continues to decline while the portion of the its aging population surpases the younger part. Demographic trends in Germany and France appear to be divergent. The two countries seem to be in a radically different situations. Germany has a population of 82,175,684 inhabitants. (statistik-portal.de).Show MoreRelatedDemographic Transition and Environmental Timeline of Germany Essay896 Words   |  4 Pagesprocess by which a nation/country moves from high birth rate and high death rates to low birth and low death rates as the growth population in the interim (Weeks, 2005). Some of the nations that have gone through this transitions are; Canada, Germany, United States and En gland. The demographic transition to an industrialized society is harmful to the environment. Industrialized countries also have the largest ecological and carbon footprint comparative to developing/non-industrialized nations. NeverthelessRead MoreImpact Of Domestic Politics On German Foreign And Security Policy1648 Words   |  7 PagesDiscuss the impact domestic politics has on German foreign and security policy. Germany is arguably one of the key global political actors. It’s extremely prominent, especially within international relations, and is also regarded as being economically, politically and geographically at the center of Europe. Germany’s success in Europe is considered to be due to its post-world war shift in ideologies and political culture and structures, from authoritarianism to democracy which inevitably createdRead MoreBattle Of The Great War956 Words   |  4 Pagesand Cold war together. First, the impact of the Great depression that strikes the global economic market in the aftermath, but this was not one of the main reason, it also has to deal with the additional discontent citizens, resentful veterans, and aggressive politicians that escalate the ideology of communism and fascism, in which unfortunately leading to WWII. Finally, as the end of WWII, 1945, Germany got separated into two parts, West Germany and East Germany, but the two powerful countries, eachR ead More U.S. Foreign Policy Essay930 Words   |  4 Pages the United States has remained consistent with its national interest by taking many different actions in foreign policy. There have been both immediate and long term results of these actions. Foreign policy is the United States policy that defines how we deal with other countries economically and politically. It is made by congress, the president, and the people. Some of the motivations for United States foreign policy are national security, economics, and idealism. The United States entryRead MoreWorld War II And Its Impact On The World1593 Words   |  7 Pagesimportant war to all people, involving many countries such as Germany, Britain, France, Italy, United States, etc. I guess in a way if we did not have WWII, some revolutionary industrial products would not have been designed for advancements in warfare technology that we use today. This war was the war to end global wars for good, which shows how much of an impact WWII had overall. World War II was important because of its global impact on the people during this time, the revolutionary industrialRead MoreThe United States Into World War I855 Words   |  4 PagesThe First World War was once one of the most harmful and deadliest wars of all time. A few countries participated within the battle together with Russia, Great Britain, Germany, and France. 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Long-term competitiveness and entrepreneurial growth are supported by openness to global commerce, well-protected property rights, andRead MoreGermany s Experience On A German Based Carrier1352 Words   |  6 PagesGermany This was my first opportunity to visit Europe and experience a completely different culture. My learnings began as soon as I boarded the plane for my non-stop flight to Munich on the German based Lufthansa airlines. The experience on a German based carrier was unlike anything I had experienced on the American based airlines I had flown in the past. The crew were incredibly hospitable and made sure that everyone was taken care of from take-off to landing. Everything on the flight was includedRead MoreThe Attack On Pearl Harbor Essay1321 Words   |  6 Pagesis well documented in United States history books that during the First World War, the United States had an isolationist and neutral stance towards the war in Europe. However, according to these texts, this all changed on February 24, 1917 when the United States received a decoded German telegram message from Britain. This message read that Germany requested Mexico to join their side and declare war on the United States if the ir northern neighbor joined the war against Germany. It is said that thisRead MoreDbq on Causes and Effect of the Crusades and Word Wars1133 Words   |  5 Pageshatred between Christians Muslims. The dominance of Muslim culture in the Middle East is another impact that was expectedas a gain for the winners. There s were many unexpected outcomes/ impacts of the crusades. An unexpected outcome was the military failure for the west (doc.2). An unexpected unfortunate outcome was that the Crusaders destroyed many Jewish communities. The most important impact is the increased trade that resulted from the contact between Christian Europe and the Islamic Empire

Importance of Compensation Philosophy †MyAssignmenthelp.com

Question: Discuss about the Importance of Compensation Philosophy. Answer: Introduction Human resource management is the process of managing human resources of a given organization. It is one of the most crucial functions of the business and enables the top management to ensure that the employees working for the firm are productive and satisfied (Armstrong Taylor, 2014). The responsibilities of a human resource manager are varied starting from recruiting and training to rewarding and managing performance. An efficient human resource manager is a vital asset to any business. This report throws light on various functions of the human resource management. The position selected is that of a Restaurant manager. This position has been selected owing to varied responsibilities fulfilled by a restaurant manager and the sundry amount of new challenges that the manager faces on a daily basis. It is a unique position as the customers change every day and each customer has distinct needs and demands. A restaurant manager is expected to hire the right staff for the restaurant, manage a diverse set of customers, address their grievances, effectively manage the restaurant budget, follow compliance and handle conflicts (Beardwell Thompson, 2014). These vast spectrum of responsibilities make the position of a restaurant manager truly dynamic and it is imperative that the person selected for the role is dexterous and proficient. Designing and analyzing jobs Designing of jobs is one of the most crucial tasks assigned to an HR manager. This involves forming and formulating various responsibilities that need to fulfill by the employee (Jong, Parker, Wennekers Wu 2015). It specifies various relationships of the employee with the rest of the firm and clarifies expectations and defines responsibilities in an efficient manner. Job description clarifies the responsibilities and obligations that come with the position of a Restaurant manager. The purpose of the job description is to ensure the employee is clear and well aware of the responsibilities that he is expected to fulfill (German, 2016). It also elucidates to whom the employee reports and whose performance in the team is he accountable for. The description also lays emphasis on the most basic qualifications to ensure a persons eligibility to apply for the job. The job description of a restaurant manager is as below: Job Title Restaurant manager Reports to Restaurant owner Date 12/11/2017 Written by and approved by Job duties and responsibilities 1. Managing staff working at the restaurant 2. Budget planning and execution 3. Daily reporting to the owner 4. Managing stock and raw material 5. Coordinating with suppliers 6. Grievance handling 7. Ensuring customer satisfaction 8. Managing performance of the staff 9. Providing the staff with timely feedback Job specifications 1. Excellent communication skills 2. Graduation in any field 3. Excellent people management skills 4. Previous experience of 3 years in the same industry mandatory Performance standards 1. Implementation of budget 2. Generate revenue 3. Manage cost 4. Ensure excellence in customer service 5. Reduce turnaround time for customers Strategies to enrich or enlarge the job Departmentalizing the restaurant will help in enriching the job profile as it would make the work of the restaurant manager much easier (Portal, 2013). Each department will have one contact person and the restaurant manager will be directly communicating with these contact persons on a regular basis. This would save time and create an increased efficacy. The restaurant manager must be provided with timely rewards and effective recognition. These rewards would be aimed at making the manager feel more valued and instil a sense of motivation to assist in achieving better performance (Jones, 2017). Expanding the menu of the restaurant will enlarge the job of the restaurant manager as now the target market would increase and hence the number of customers availing services at the restaurant would be higher. This would require extra management and responsibilities of the manager leading to an enlarged job. HR planning and recruitment Human resource planning is the procedure of analyzing the current as well as future human resource requirement in any business. This involves examining how many employees are currently employed with the firm and fulfilling manpower gaps if any (Belcourt McBey, 2016). The aim of HR planning and recruitment is to make sure the business is neither understaffed nor overstaffed. Environmental scan assists managers in considering the factors that may directly or indirectly impact the recruitment process and availability of talent in the industry (Uysal, 2014). As a restaurant manager, this environmental scan includes: Increasing competition: the manager need to know how many more restaurants or similar services are available in the nearby areas and what are the salaries that are being offered to their employees. Employee poaching: The manager must also keep a hawk eye on restaurants that might be poaching our employees by keeping a track of previous employees current employment details (Kim, 2014). Economic factors (recession, inflation): Factors like recession and inflation hamper the availability of talent (Chauradia, Mawdsley Brymer, 2017). An increasing inflation increases employees salary expectations while recession generally slows down the economic activity of the nation Recruitment strategy Recruitment drives: Recruitment drives could be conducted which allow firms to address a wider audience and help find the right candidate for the job. These recruitment drives are intended to provide jobs to a large number of people. Handouts distributed in public places: Handouts could be printed and distributed at public places in order to make people aware about the vacancies at the restaurant. The eligible and interested candidates could apply by referring to the contact details in the handout. Referrals: The existing employees of the restaurant could refer other interested candidates and earn extra incentives for the same (Burks, Cowgill, Hoffman Housman, 2015). Selection of the perfect employee from various applying candidates is a significant responsibility of a restaurant manager. It requires immense skill to identify the right talent in the short span in which the candidate interviews with the firm. Organizations must be strict about the selection criteria in order to filter out ineligible candidates. Completion of application form: Anyone who applies for the position would be asked to fill out an application form. Candidates applying online can fill the application online. This will contain the details of the candidates work experience, educational qualifications, strengths, weaknesses and other personal information. Pre-screening: On the basis of their application alone, various candidates will be selected or rejected for the next round of interview. It is essential to ensure that the qualifications of the candidate matches well with those required for the job. It is difficult to know about a person entirely by their application, hence this is just the first level test. Employment tests: The role of a restaurant manager involves making quick decisions, manage stress and act fast in case of a crisis. To assess this ability of a candidate, a logical reasoning and aptitude test would be conducted. This will help to further shortlist candidates for the personal interview round. Interview: A one on one personal interview is the best way to judge a candidates communication skills, public behavior and ability to connect with people. An interview will be conducted in the presence of the restaurant owner as well as the HR head. Reference checks: if the candidate successfully clears the interview to the satisfaction of the jury, then a reference must be conducted to check upon the performance of the candidate in the previous jobs. This is important to make a decision and get a genuine and first hand feedback from the previous employer. Hiring decision: Once the entire process has completed, the top management must sit together and decide whether the candidate must be selected or rejected. Either way, the candidate must be informed the decision in a professional manner. Selection interview During the candidates interview, it would be essential that the owner of the restaurant or any other business partner along with HR personnel is present. For the position of the restaurant manager, the team would be evaluating the candidate based on communication skills, people management skills, quick decision making ability, efficient conflict management and polite behavior (Levashina, Hartwell, Morgeson Campion 2014). Question 1: Describe a situation where you have completely disagreed with your superior because you were very sure that you are right Question 2: What has been your biggest achievement and your biggest failure since you started working. What did you learn from both? Question 3: What is the most difficult customer situation you have ever faced and how did you tackle it? Question 1: If a customer has visited the restaurant with a large party and orders food worth CAD 300, but one of the food items has a strand of hair. He is demanding to wave off his entire bill. The staff is doubting that he has placed that strand of hair himself to get free food. On the other hand, customer is creating a scene and intimidating to sue the restaurant. What would you do in such a scenario? Question 2: There is a waiter who has been associated with the restaurant since inception and has been one of the best performing employees of the firm. One day you visit the terrace of the restaurant after working hours and see that he and two other colleagues have stolen beer from the restaurant and consuming it in the restaurant premises. What action would you take? Question 3: There is an office in the same building as your restaurant and the employees of that office regularly visit the restaurant. For the 14 of February, you have hosting a private party and 30% of the tickets have been sold. The CEO of the same office approaches you and requests you to allow the office to organize a party on 14th February, the same day as the private party. You cannot lose this client as they give you a daily business. What would you do? Orienting and training Pre hire: Before hire the candidates details would be recorded. The candidate must be asked to send all his documents for verification and feedback must be taken from the previous employers Hiring: Once the employee has been hired a formal welcome letter must be sent to the employee with details including his work timings, dress code, contact details of one contact person and other important organizational details (Lawson, 2015). First Day: The employee must be introduced to everyone in the organization. The details of the organizational structure and his team must be shared with the employee. The work must be clearly explained, a tour of the entire facility must be provided, a mentor must be assigned and any other guidance that the employee wants, must be provided. First week: It is important that the restaurant manager can handle different departments of the restaurant including kitchen management, accounting, staff handling etc. Training must be provided for the same. Performance must be closely evaluated. And towards the end of the week a meeting must be scheduled to take and provide feedback about the current experience in the restaurant. Three months: Three months from the joining, a complete performance evaluation should be done. The idea is to provide a feedback to the employee and recommend improvements if any required. Also the employees feedback should be taken about his team members. The employee must also share an action plan for the next three months. Justification for the program Employee orientation: This on boarding program would orient the employee well with the restaurant and the organizational structure. Employee acceptance: This program is aimed at ensuring the employee accepts the organizational culture and vice versa. The employee must be comfortable in the place of work (Williams, 2015). Feedback: This program would also give way to a genuine and transparent feedback policy. This way the employee would be able to improve his performance and he can also provide feedback and recommend any improvements in the organization. Performance evaluation: This on boarding program involves performance evaluation meetings between the manager and his superior every three months. This would ensure that the performance is regularly evaluated and kept under check. Feedback from the employee will give a clear idea about the effectiveness of the orientation and training program. This could be done via feedback forms as well as encouraging open discussions at the end of the program. Employee performance must also be evaluated before and after the program. Any positive change in the performance could be an indicator of the success of the orientation program. Employee buddies could be assigned and also informal behavior of the employee must be noticed. An active participation in office activities, clarity of work and interaction with other employees is an indication of well oriented employees. Rewards: Direct compensation The philosophy behind the restaurants compensation program is to ensure an attractive and flexible pay along with benefits. The goal for the restaurant is to be competitive in recruitment. The high compensation package also reflects upon the high quality of performance expected from the employees (Reda, 2015). It is important to make employees feel valued and that their performance is given the due credit as well as appreciation. This is an important step to motivate employees and letting them know that the work they perform is important and valued. Various performance evaluation methods must be in place to ensure that the right and deserving employees are rewarded. These merit systems must provide a credible relationship between employee performance and raises awarded to them. A restaurant manager would be evaluated as per a balanced score card. It is a strategic performance management tool which evaluates an employee on the basis of four important aspects, Financial, customer, internal business process and learning growth. Fixed Salary Annually Monthly Basic Pay CAD 120000 CAD 10000 HRA CAD 2400 CAD 200 Conveyance CAD 1200 CAD 100 Telecommunication CAD 240 CAD 20 Professional Tax (CAD 1200) (CAD 100) Provident fund (Contribution of employer) CAD 1200 CAD 100 Provident fund (Employee) (CAD 1200) (CAD 100) Net in hand salary CAD 122640 CAD 10220 Rewards: employee benefits Benefits provided to the restaurant manager would be as below: Travel: The restaurant manager will be provided one way commuting facility. This is because the manager might have to work late night. In such a scenario it becomes the responsibility of the restaurant that the employee reaches home safely. Telecommunication expense: The restaurant manager would be provided a mobile phone. The contact details of which would be made public for customers to contact. This will make the manager a one point contact for everyone. Health insurance: This would be provided to all the employees with the restaurants partner healthcare agency. Tying up with recruitment agencies can be a great idea to hire the right candidates. They take the pressure of screening, interviewing and evaluating the candidates off from the restaurant. The top management then only get candidates shortlisted by the recruitment agency. And it is easier for them to filter the best from the cream. The restaurant does not have a flexible benefits program. This is because the three benefits mentioned above will be offered to the restaurant manager because they are needed. The flexible benefits plan works well for the organization when the cost can be passed on to the employees as a deduction from their before tax income (Bloom Trahan, 2016). The restaurants philosophy is to recruitment competitive. Therefore no additional cost would be passed on to the employee. Travel expense, telecommunication expense, health insurance and sick/casual leaves would be provided to the employee. This is done to increase employee loyalty and satisfaction. References Armstrong, M. and Taylor, S., 2014.Armstrong's handbook of human resource management practice. Kogan Page Publishers. Beardwell, J. and Thompson, A., 2014.Human resource management: a contemporary approach. Pearson Education. Belcourt, M. and McBey, K.J., 2016.Strategic human resources planning. Nelson Education. Bloom, D.E. and Trahan, J.T., 2016.Flexible benefits and employee choice: Highlights of the literature. Elsevier. Burks, S.V., Cowgill, B., Hoffman, M. and Housman, M., 2015. The value of hiring through employee referrals.The Quarterly Journal of Economics,130(2), pp.805-839. Chauradia, A.J., Mawdsley, J. and Brymer, R.A., 2017, January. Hiring in a Recession? Performance Implications of Countercyclical Human Capital Sourcing. InAcademy of Management Proceedings(Vol. 2017, No. 1, p. 17331). Academy of Management. German, F., Spanish, D. and Italian, S., 2016. Job Description. Jones, R.C., 2017. Rewards and Recognition Spark Revision Writing.Journalism,7(2), pp.97-101. Jong, J.P., Parker, S.K., Wennekers, S. and Wu, C.H., 2015. Entrepreneurial behavior in organizations: does job design matter?Entrepreneurship Theory and Practice,39(4), pp.981-995. Kim, J.H., 2014. Employee Poaching: Why It Can Be Predatory.Managerial and Decision Economics,35(5), pp.309-317. Lawson, K., 2015.New employee orientation training. Association for Talent Development. Levashina, J., Hartwell, C.J., Morgeson, F.P. and Campion, M.A., 2014. The structured employment interview: Narrative and quantitative review of the research literature.Personnel Psychology,67(1), pp.241-293. Portal, S., 2013. Organizational Structures. Reda, J.F., 2015. The Importance of a Compensation Philosophy: Redux.Browser Download This Paper. Uysal, G., 2014. Taylor, HRM, strategic HRM with jobs, employee performance, business performance relationship: HR governance through 100 years. Williams III, J., 2015. Starting off on the Right Foot: A Library New Student Employee Orientation.South Carolina Libraries,1(2), p.7.

Man For All Seasons Persuasive Essay Example For Students

Man For All Seasons Persuasive Essay Neither Thomas More or the Common Man are able to serve two masters In the playA Man for All Seasons by Roger Bolt, The Spanish Ambassador Chapuys says toSteward, a role played by the common man, No man can serve twomasters(Bolt, 24). Within the play this statement is proven true forall the characters, especially for The Common Man and Sir Thomas More. TheCommon Man, shows himself time and again that he truly serves one master andthat master is himself; whereas with More attempts to serve two masters. Moreattempt to serve King Henry of England, and God. By the end of the play it isshown that More cannot serve two masters despite all his efforts. It is apparentwithin the play that the Common Man is serving himself as his only master and noone else. In the play it may seem that he is not a self-serving character due tothe fact that he obeys what people tell him to do, for instance in hisconversations with Cromwell, and Chapuys, they ask him for knowledge about hismaster, Sir Thomas Mor e. Firstly Cromwell asks him information concerning Moresattitude towards the Kings divorce of his wife the Queen. The Common Manreplies, Sir, Sir Thomas doesnt talk about itHe doesnt talk about itto his wife, sirSir, he goes white when its mentioned! Cromwell (handscoin): All Right.(Bolt, 23.). Later with his conversation with Chapuys heis asked about Mores spirituality, Sir Thomas rises at six, sir, andprays for an hour and a halfDuring lent, sir he lived entirely on bread andwaterHe goes to twice a week, sir. Parish Priest. Dominican(Bolt,24). Chapuys then replies to the Common Man, Good, simple man. Here. (Gives coin. Going)(Bolt, 24). As you can see he does what he wants forhimself and no other especially divulging information for money. The Common Manalso only holds loyalty unto himself and no other. At the first sign his needswill no longer be met to his satisfaction he leaves. For when More loses his joband no longer has an income, the Common Man collects his belongings and leaves,Now, damn me isnt that them all overI nearly fell for it`Matthew,will you kindly take a cut in your wages? `No, Sir Thomas I willnot.'(Bolt, 57). The Common Man is a very sly person, and holds nothingback when it comes to him and a job. This is evident as he acquires a positionwith Richard Rich, another very self- serving person by easily manipulating him. Richard Rich had no inclination to hire the Common Man; he was manipulated sowell that the Common Man gets a job, Oh. Oh, I must contradict you there,sir; thats your imagination. In those days, sir, you still had your way tomake. And a gentleman in that position often imagines these things. Then whenhes risen to his proper level, sir, he stops thinking about itWell I dontthink you find people `disrespectful nowadays, do you sir?(Bolt, 61-62). Now, Sir Thomas More, through out the play tries to balance his life between Godand King. More as he obeys God and King prays for his King, Dear Lord giveus rest tonight, or if we must be wakeful, cheerful. Careful only for our soulssalvation. For Christ sake. Amen. And bless our lord the King.(Bolt, 8). To continue his service for both God and King, More is willing to sacrificeeverything if it will allow him to serve both; There is my right arm. (Apractical position.) Take your dagger and saw it from my shoulder, and I willlaugh and be thankful, if by that means I can come with Your Grace with a clearconscience.(Bolt, 31). For in the play More is forced with a choice, toeither continue in his service to King Henry and go against the Catholic Churchor quite his job and continue in his service to the King, If the Bishopsin Convocation submitted this morning, Ill take it offIts nodegradation.(Bolt, 48). In the play the Act of Supremacy is passed. Thepurpose of this act is to affirm that the King is the Supreme Head of the Churchin England. If More were not to swear to this act he would be committing hightreason against the King. Since More believes that he can serve two masters, heroots through the act looking for a loophole. A loophole that will allow him tocontinue serving his God an d King. Supreme Head of the Church in England `so far as the law of God allow it remains a matter of opinion since the actdoesnt state it.(Bolt, 48) Only at the very end of his life, as he sitsin a courtroom does he finally realize that he cannot serve God and King. It ishere that he realizes that he must choose, and he chooses God. After RichardRich perjures himself to convict More in court, Cromwell offers More his lastchance to choose between God and King, and More does choose God above all,To what purpose? I am a dead man. (To Cromwell.) You have your desire ofme. What you have hunted me for is not my actions, but the thoughts of my heart. .ub03421a54c65febce8b58e74dbfe2081 , .ub03421a54c65febce8b58e74dbfe2081 .postImageUrl , .ub03421a54c65febce8b58e74dbfe2081 .centered-text-area { min-height: 80px; position: relative; } .ub03421a54c65febce8b58e74dbfe2081 , .ub03421a54c65febce8b58e74dbfe2081:hover , .ub03421a54c65febce8b58e74dbfe2081:visited , .ub03421a54c65febce8b58e74dbfe2081:active { border:0!important; } .ub03421a54c65febce8b58e74dbfe2081 .clearfix:after { content: ""; display: table; clear: both; } .ub03421a54c65febce8b58e74dbfe2081 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ub03421a54c65febce8b58e74dbfe2081:active , .ub03421a54c65febce8b58e74dbfe2081:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ub03421a54c65febce8b58e74dbfe2081 .centered-text-area { width: 100%; position: relative ; } .ub03421a54c65febce8b58e74dbfe2081 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ub03421a54c65febce8b58e74dbfe2081 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ub03421a54c65febce8b58e74dbfe2081 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ub03421a54c65febce8b58e74dbfe2081:hover .ctaButton { background-color: #34495E!important; } .ub03421a54c65febce8b58e74dbfe2081 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ub03421a54c65febce8b58e74dbfe2081 .ub03421a54c65febce8b58e74dbfe2081-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ub03421a54c65febce8b58e74dbfe2081:after { content: ""; display: block; clear: both; } READ: Education Behavoirists EssayIt is a long road you have opened. For first men will disclaim there hearts andpresently they will have no hearts. God help the people whose Statesmen walkyour road.(Bolt, 95). It is evident that in the play A Man For All Seasonsby Robert Bolt the characters in focus, The Common Man serves but one masterhimself. And Sir Thomas More who attempt to serve two masters is unable and inthe end when he chooses to serve his King keep his life and lose his soul, orserve his God keep his soul and lose his life. He chooses God. This play clearlyshows that, no man can serve two masters.

Texas aM University College Station vs. Stanford University free essay sample

College: probably one of the most stressful, exciting, influential, and bittersweet phases young adults experience in their lifetime. Attending a university is a significant objective for many high school teenagers across the nation; however, the true student desire involves selecting preferable colleges to attend. Although the actual acceptance is always a gamble, it is essential that aspiring students apply to colleges best suited for them in their particular situation. This â€Å"person-specific† aspect must be considered when researching any colleges, especially Texas AM University College Station and Stanford University. As one in-state Texas university and one out-of-state college, Texas AM University and Stanford University are two schools on complete opposite ends of the spectrum. This is true not only on their well-known academic levels but essentially through the universities’ admission processes, student life, and expenses. When considering which of the two is the â€Å"better† college, these various categories must be accurately researched and evaluated. We will write a custom essay sample on Texas aM University College Station vs. Stanford University or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The admission procedure is considered by many as the most dreadful, tedious, and difficult parts of a student’s pre-college life. This opinion has remained over the years because of the specifications and requirements of each application for each individual university. When looking at Texas AM University College Station, there are several ways to be admitted. The school requires that all students â€Å"successfully complete the recommended or advanced high school program, †¦a curriculum that is equivalent†¦ or†¦ satisfy the College Readiness Benchmarks on the SAT or ACT assessment† (â€Å"Office of Admissions†). In addition, Texas AM grants automatic admission to Texas high school students whom â€Å"rank in the top 10% of their graduating class† (â€Å"Office of Admissions†) or earn a minimum of a certain SAT or ACT score (â€Å"Office of Admissions†). Stanford University similarly consists of a fairly typical undergraduate application including personal information, test scores, career interests, honors, activities, and an essay (â€Å"Freshman Requirements Process†). However, unlike Texas AM, Stanford strongly suggests applicants to â€Å"submit official results of at least two SAT Subject Tests† (â€Å"FAQ†), clearly dropping hints in reference to its rigorous structure. According to The Princeton Review, Stanford is ranked the fifth toughest university in the nation to get accepted into (Franek 34), as it is considered an Ivy League school. When looking at admissions, Texas AM University offers several attainable options to Texas high school students as opposed to the more strict and competitive guidelines placed by Stanford University. The general student life of Texas AM University College Station, in contrast to Stanford University, is quite possibly one to the most defining factors between the two schools. Texas AM is agreeably made up of a significantly homogenous student population. With a student body of 2 percent African Americans, 3 percent Asians, 82 percent Caucasians, 10 percent Hispanics, 1 percent Native Americans, and 1 percent international students, Texas AM is not a diverse university (Marshall 63). On the other hand, there is â€Å"an enrollment of about half men and half women† (â€Å"About Texas AM University†) at the school. Furthermore, it is important to note the strong religious aspect of Texas AM University College Station in that the students are primarily Christian with multiple religious organizations on and around campus (Marshall 64). Texas AM University College Station is fortunate to be â€Å"one of a select few universities with land-grant, sea-grant and space-grant designations† (â€Å"About Texas AM University†) in order to apply classroom concepts to real world jobs. The college also contains many traditions that have been passed down to Aggies for years. However, one particular event, the lighting of a monstrous bonfire the night before the Texas AM football game against the University of Texas, produced devastating effects in 1999 (Mangan). The burning â€Å"59-foot-high stack of logs† (Mangan) ultimately collapsed and â€Å"killed 12 students and injured 27 others† (Mangan), resulting in a lawsuit against Texas AM and the banning of the old tradition. Stanford is well known for its diverse student population. In fact, the college is ranked seventh in the nation in terms of diversity (Franek 41). Obviously dissimilar to Texas AM, Stanford is made up of 10 percent African Americans, 24 percent Asians, 40 percent Caucasians, 11 percent Hispanics, 2 percent Native Americans, and 6 percent international students (Franek 502). Stanford explains that its â€Å"undergraduates come from all 50 states and more than 60 nations†¦ [and they embrace] a broad range of socioeconomic, religious, cultural, and educational backgrounds. [They] believe that the best education can develop only in a vibrant, diverse community†¦ [and that a] diverse setting at Stanford enables students to investigate and engage in current issues and deeper societal questions† (Diversity at Stanford). This aspect plays a key role in the controversy revolving around the controversy of the use of Affirmative Action as well (â€Å"FAQ†). Also, as a highly respected school, Stanford was the 2005 recipient of a â€Å"$500,000 grant from the Goldman Sachs Foundation for the Stanford Educational Leadership Institute. The grant promotes the development of schools and individuals who have the potential to achieve high-quality teaching and learning† (â€Å"Stanford University†). This is mere example of the multiple opportunities offered to the Stanford community due to its exemplary accomplishments, similar to those of Texas AM. Cost is always an area of concern for any student applying to college. This is particularly important when comparing in-state to out-of-state universities. The annual tuition for Texas high school students at Texas AM University College Station is $4,371; room and board costs $7,660; books and supplies are $1,280; other required fees total about $2,595 (Franek 533). This adds up to an average of $15,906 per student per year. At Stanford University, expectedly more expensive, the annual tuition is $32,994; room and board costs $10,367; books and supplies are $1,290 (Franek 503). With tuition already doubling the total expenditures of a Texas AM student, the average total cost of a student attending Stanford University totals $44,651 per student per year. The difference in the price of the individual schools is obviously significant and should be an area of consideration for all aspiring scholars. Texas AM University College Station prevails as the less expensive school by a landslide in judgment against Stanford University. Numerous aspects of colleges are evaluated by soon-to-be undergraduates come college admission season. In the evaluation of Texas AM University College Station and Stanford University, the admission sequence, social realm, and cost of the colleges are three crucial areas of deliberation. Taking into consideration the polar opposites of Texas AM and Stanford, college preference eventually boils down to student desires. Texas AM has proven itself to be easier to get accepted into with several alternative options, a very spirited community of similar students, and far less expensive, making it a clear choice for many Texas teenagers. However, those students who wish to seek a more challenging, rigorous academic career and widely diverse student population at the expense of higher tuition rates, more power to them. Works Cited Franek, Robert. The Best 366 Colleges, 2008 Edition. New York: Princeton Review, 2007. 9-42, 502-503, 532-533. Mangan, Katherine. â€Å"Texas AM Settles Bonfire Lawsuit. † The Chronicle of Higher Education. 7 Nov. 2008. InfoTrac. Gale. Clear Brook High School Lib. , Houston, TX. 19 Feb. 2010 . Marshall, Ashley. Texas AM University: Off the Record College Prowler. Pittsburgh: College Prowler, 2005. 1-133. McCabe, Jeff. â€Å"About Texas AM University. † Texas AM University. 22 Feb. 2010. Texas AM University. 2010 . McCabe, Jeff. â€Å"Office of Admissions: Ways to be Admitted. † Texas AM University. 22 Feb. 2010. Texas AM University. 2010 . â€Å"Stanford University (Calif. ) received a $500,000 grant from the Goldman Sachs Foundation for the Stanford Educational Leadership Institute. † Diverse Issues in Higher Education. 1 Dec. 2005. InfoTrac. Gale. Clear Brook High School Lib. , Houston, TX. 9 Feb. 2010 . Stocker, Scott. â€Å"Undergraduate Admission: Diversity at Stanford. † Stanford University. 22 Feb. 2010. Stanford University Office of Undergraduate Admission. 2010 . Stocker, Scott. â€Å"Undergraduate Admission: FAQ. † Stanford University. 17 Feb. 2010. Stanford University Office of Undergraduate Admission. 17 Feb. 2010 . Stocker, Scott. â€Å"Undergraduate Admission: Freshman Requirements Process. à ¢â‚¬  Stanford University. 18 Feb. 2010. Stanford University Office of Undergraduate Admission. 18 Feb. 2010 .

Objectivity is impossible in journalism, especially in the face of atrocity and on a subject one is passionate about

Objectivity is impossible in journalism, especially in the face of atrocity and on a subject one is passionate about Introduction Reputable journalists around the world desire to disseminate news in an unprejudiced manner. They focus on furnishing the public with information about local or international occurrences through minimal personal interference.Advertising We will write a custom essay sample on Objectivity is impossible in journalism, especially in the face of atrocity and on a subject one is passionate about specifically for you for only $16.05 $11/page Learn More While the virtue, of reaching this goal is reasonable, the feasibility of attaining it is another matter altogether. Challenges of striving for objectivity It is possible for people to experience the same reality, but their understanding of the same depends on their perception (Brooks 2006). A microwave may seem like an indispensable device to a restaurant owner, but the same item may be perceived as a box or an awkward piece of furniture by a bushman in the Kalahari Desert. Alternatively, a personâ€⠄¢s definition of intelligence may depend on that person’s cultural inclinations. Education, norms, and biases filter what people perceive in their worlds. It is these filters that cause people to have different religious standpoints, gender identities, personalities or economic opinions. For instance, a group of people may witness a mob lynching in a part of town. A lawyer may talk about the possibility of a lawsuit by the concerned assailant; a politician may consider strengthening the city’s security laws; a clergyman may talk about God’s role in sparing the victim from death. All these perceptions stem from old information that the viewers used to understand the new information. Since people subjectively construct the world, then even journalists perceive events against this backdrop. Methods or platforms used to convey information are quite unsteady in the field. Journalists need to use words in order to convey information, yet words can mean different thin gs to different people.Advertising Looking for essay on communications media? Let's see if we can help you! Get your first paper with 15% OFF Learn More For instance, the statement â€Å"Mergina is an exotic location bursting with native energy† could mean different things to different people. Does the word exotic refer to something bizarre or is or just another way of demonstrating that the location is exciting and different? If it is different, then the author should specify his reference point. Native energy may be translated negatively by the people of Mergina who may assume that the term connotes primitivism. Therefore, journalists may intend on conveying factual information, but their choice of words and interpretations could betray them. Even the sheer notion of doing conflict war zone reporting brings the matter of objectivity into question. An employer cannot force a journalist to enter a war zone unless the correspondent consciously chooses to do so. This means that he or she must feel strongly enough about a certain story to put himself or herself in danger. At that point, the journalist will compromise on objectivity because he or she is passionate about the matter. Reportage requires detachment, but this is close to impossible to achieve when journalists already feel so strongly about something. When engaging in journalistic work, stakeholders must make numerous decisions on news reporting. They must decide on occurrences that qualify as news. Not every event (religious meeting, violent interaction, political episode, and economic matter) that happens will make the news because editors often determine which ones journalists will report.Advertising We will write a custom essay sample on Objectivity is impossible in journalism, especially in the face of atrocity and on a subject one is passionate about specifically for you for only $16.05 $11/page Learn More Although most editors have a lot o f experience in the industry, this only proves that journalism pegs on experience as a filter of the newsmaker’s world. Reporters and journalists may dedicate a lot of time and effort towards to the collection of valuable information on conflict. However, their efforts may be thwarted by media houses if they are not politically correct. For instance in the UK, some natives attacked and beat up Iranian girls for wearing Hijabs. No local media outlets reported the incident, yet the matter received extensive coverage in Iranian media houses. It was the decisions of higher powers in those stations that determined what they transmitted. Numerous media houses tend to reflect the ideological preferences of their editors. Although many of them try to show the other side of the story, the vast majority will endorse their superior’s ideologies. Journalists do not exist in a vacuum; they are part of their society and will often implement the perspectives embraced by established p owers, political or government leaders (Jones 2009). Aside from the decision process, even the process of reporting the news is quite difficult to perform for those individuals who have the responsibility to do so. Besides the choice of words that journalists select, the images they convey can also alter perceptions. On television, cameras may zoom in on ten demonstrators and make them look like a large crowd. Alternatively, cameras may take aerial shots of a large crowd and make it appear as though it was a minor dispute. Even the order in which news reports occur can determine viewers’ or readers’ interpretations. The amount of time dedicated to a story will determine how people will think of it. The reader’s tone of voice or facial expression may also change the way the public perceives the matter.Advertising Looking for essay on communications media? Let's see if we can help you! Get your first paper with 15% OFF Learn More Journalists are quite human; they can get fully engaged in the conflicts or issues that they are covering if the issues affect them. When a reporter visits a missionary – operated orphanage, where children can only get food when they become Christians, then the journalist will most likely deplore that behaviour. Alternatively, if terrorists kidnap a correspondent in a conflict zone, then this can dramatically alter the individual’s opinion of the terrorists. Even the general experience of war causes many reporters to become empathetic about torture victims. They may be prompted to condemn the atrocities that they witness, and this may undermine their ability to objective. A correspondent who faithfully records violent behaviour without criticizing it will be an upstanding journalist but not a decent person. Dispassionate reports often yield dispassionate reactions from the public. Readers, listeners and viewers often respond to passionate and genuine stories. If journa lists stick to news items, without showing their human side, then they may elicit negative responses from the public. Emotions are what make people human, so audiences do not expect journalists to eliminate this aspect from their work. Furthermore, sometimes certain atrocities are so blatant that it comes naturally to take a stance against them. If a journalist tries to use words such as alleged when the violent acts are so obvious, then the individual may fall into the trap of false objectivity. Sometimes a middle-ground approach may not be tenable. Virtues of objectivity Numerous external parties may interfere in journalistic activities. Perhaps the most notorious ones are politicians. If journalists did not care about objectivity, then they would be reduced to political puppets. In the government, loyalty to one’s group is more valuable than allegiance to the truth. A member of parliament would need to consult and support members of his party in order to get any piece of l egislation passed. However, undesirable results would occur if journalists did the same thing. Some governments have reduced media houses into propaganda platforms. If journalists in those countries committed to objectivity, then they would perpetuate the truth, even when this meant betraying their governments. A case in point was the Nanking Massacre of China. This was an atrocity that occurred at the city of Nanking in 1938. The conflict involved the killing, rape, arson and torture of Chinese people by Japanese soldiers. About 300,000 casualties arose from the war with most of the victims being civilians or unarmed Chinese soldiers. The Japanese combatants raped women and forced them to commit acts of incest. They looted their property and left them with nothing. When stakeholders revisited the matter in the 2000s, some Japanese politicians, such as Mayor Kawamura of Nagoya, Governor Ishihara of Tokyo and Japanese LDP party members, claimed that the Massacre never occurred. Other s who acknowledge its existence have tried to play down the magnitude of the atrocities. Journalists who report these events have also fallen victim to the above sentiments owing to the need to obey authority. If they stayed committed to objectivity, then they would have focused on both sides of the conflict. They would have discussed the varied interpretations of the matter and the need for apology from the Japanese government. As such, their biased journalists have fanned Chinese-Japan mistrust and general relations (Gallichio 2007). Members of the media industry also have the unique challenge of handling stereotypes. Human beings tend to focus on facts that confirm stereotypes and ignore the ones that contradict them. Objectivity in journalism is essential in order to reduce this preference for stereotypes. Therefore, the possibility of staying objective can be considered in this industry. Journalists reporting about violence, conflict, or atrocities have several reasons to striv e for objectivity; therefore, this illustrates that there is a possibility for existence of objectivity. First, atrocities rarely occur in isolation; this means that every conflict has a context that led to the culmination of violent behaviour. A warring society may have undergone decades of polarisation and unresolved issues; it may possess structural issues that perpetuated the violence. Issues such as government neglect, military oppression, and poverty should receive just as much attention as the personal atrocities committed by individuals. Journalists who strive for objectivity would not just focus on irrational aspects of atrocities; they would also explain the factors behind the violent behaviour. It is necessary to suspend judgements when making these calls, no matter how divergent the issue is from one’s worldview. A journalist who endeavours to become objective will not just concern himself with issues that support his perspective; he will try as much as possible t o look at all the facts. De-contextualisation of violence necessitates working towards objectivity. Conflicts or wars are usually quite complex. It is easy for journalists to fall into the trap of dualism. Here, they may reduce the stakeholders in the conflict to just two individuals, yet other external parties such as multinationals may also play a role. For instance, international journalists reported the 1994 Rwandan atrocities as a conflict between the Hutus and Tutsis. While the latter groups were the majority stakeholders, the UN, US, Belgian and French forces also contributed to the conflict. Furthermore, journalists downplayed their role in ending the conflict. If reporters at the time strove for objectivity, then they would not have ignored the role of these external players in the genocide. Alternatively, when reporting about conflicts it is easy to present the most outstanding or dramatic aspects. Reporters may make violence seem like the only option, yet this is not alwa ys true. Journalists ought to strive for objectivity by refraining for Manichaeism; a term that refers to the process of demonising one group and regarding the other one as chaste. No conflict is ever black and white; that is why journalists need to note all the negotiations that may occur in a conflict. Furthermore, ceasefires may not always signify peace. If escalation occurs in a war, then journalists must explain the causes of the occurrence. Alternatively, if journalists ignore the views of the bereaved in news reports, then the public may not understand why an escalation or act of revenge occurred. When reconciliation takes place, journalists have the power to perpetuate healing by showing images of resolution. In order for all these positive outcomes to occur, then journalists working in such environments need to strive for objectivity. Reporters who strive for this objective should exercise self control. They need to suppress their own emotions in order to get to the truth. This means that they ought to embrace the possibility of being a little dull. Outright attacks against certain prominent figures may attract readers’ attention, but they do not necessarily indicate that the matter is true. Most attacks tend to exaggerate the vices of an individual while ignoring the person’s strengths. Journalists should process all the information they have collected and put it in one coherent pattern (Holber Zubric 2000). The act of connecting all the parts takes strong judgment, which may not always be prevalent amongst all reporters. They need to report issues as they are without demonising one group or ignoring certain aspects of the conflict. Such issues provide proof for the possibility of objectivity in journalism. Sometimes attachment in journalism can lead to severe consequences, which points to the possibility and usefulness of objectivity. This is especially so when the concerned reporter is passionate about a certain topic. British corres pondent Marie Colvin died in Syria when one of the warring parties fired a missile at her and her group. Colvin belonged to a group of journalists who ascribed to a school of thought known as journalism of attachment. In this group, members believe that correspondents have a moral duty to the public by taking sides (O’Neill 2012). They affirm that one must identify the evil and pure sides in a conflict and then show a preference for the positive side. Here, journalists cease being reporters only; they transform themselves into moral crusaders. Many newspapers have praised the courage of these individuals; however, they do not realise the danger of such an approach to those crusaders. When journalists abandon objectivity, as Colvin did, then they become players in the war. In one instance, Colvin rescued 1500 people in East Timor when Indonesian forces arrested the victims. The latter event occurred in 1999, and peers commended Colvin for her heroic efforts. The individual als o urged western governments to intervene in the Kosovo conflict during the 1990s because she identified the Serbs as evil and the area’s Liberation army as virtuous, yet these factors changed dramatically. In other similar scenarios, journalists have used their positions as activists to force western governments to intervene in foreign conflicts through military action. A case in point was the intervention of the UK, US and the French in the Libyan conflict of 2011 through bombing campaigns. Activist journalists have the ability to change the direction of a war by garnering support from their governments against sides they perceive as evil. One can thus deduce that such journalists are no longer neutral and objective. They choose to replace their quest for the truth with their moral objectives. Many of them even criticise unbiased journalists as bystanders who have no place in modern journalism. The challenge with taking such a stance is that it causes reporters to become too engrossed with emotion. A large number of these activists will reduce news findings to morality tales and disregard the complexities involved in the conflict. In other words, they will perceive things as black and white. Therefore, one can see the importance of objectivity in such circumstances. Objectivity, or at least its quest, is possible in the face of atrocities in order to present the true picture of a conflict. When journalists get carried away by their emotions, they will detach themselves from reality and loose balance in their work. A case in point was the issue of global warming. Initially, most reporters focused on the impending danger that the world would be subjected to if it did not change its consumption patterns. However, with time, the media realised that there was another side to the issue and started to report it too. Objectivity is desirable and possible especially when covering controversial topics. Journalists who abandon objectivity may also fall into the t rap of becoming targets in the conflict. When reporters take sides, usually against the local regimes in which they are reporting, they often cause those local leaders to turn against them too. Some of them may bomb their media houses or target them for military purposes. Correspondents who urge western governments to participate in a war may ignite anti-western sentiments in conflicts. Therefore, everything that represents western influence, including western reporters will become enemies of the local regime. Not only is the quest for objectivity the best way to ensure that the public gets to see a conflict’s real picture, but it also protects journalists from fatal consequences of emotionalism. Conclusion Objectivity is dependent on human interaction, which renders journalistic work subjective. It is, therefore, true that objectivity in journalism is impossible. Reporters cannot leave their moral inclinations behind and then dwell on their jobs dispassionately; this is simp ly contrary to human nature. Nonetheless, the virtues of objectivity cannot be ignored. Journalists who comprehend the influence of subjective views would double check their work for glaring biases and prejudices. Such enlightened individuals would also be aware of other people’s worldviews and will encompass them in their reports. Objectivity should be a goal to be sought even though journalists can never attain it fully. Focus ought to be on the process and not the journalist. Journalists have their own opinions, but the process that they use to present information should encapsulate notions of objectivity. Journalists should also refrain from excesses of emotion; otherwise they may lose sight of reality or may also become targets in conflict zones. References Brooks, D 2006, Objectivity in journalism, Imprimis, Michigan. Holber, L Zubric, S 2000, ‘A comparative analysis: objective and public journalism techniques’, Newspaper Research Journal, vol. 21 no. 4, p p 50-67. Gallichio, M 2007, The unpredictability of the past, Preiger Publishers, London. Jones, A 2009, Losing the News: The future of the news that feeds democracy, Oxford University Press, Oxford. O’Neill, B 2012, ‘Dangers of the journalism of attachment’, Spiked, 4 February, p. 14.

Fonterra Ltd, a diary company in New Zealand Assignment

Fonterra Ltd, a diary company in New Zealand - Assignment Example The number of employees working for Fonterra is around 16800. The strategies adopted by the company are to make business in the emerging economies like China, Latin America and ASEAN; thus creating a strong presence. Optimizing the business of milk in New Zealand, protect the exports of milk exports in New Zealand by building integrated offshore milk pools, so that the higher value returns gets back to the country; focusing on creating quality product for its customers with special concern for mother and babies (Fonterra Ltd., 2011, pp.2-20). Computer fraud and abuse Accounting information system is a process by which the accounting of the company is done based on the Generally Accepted Accounting Principles (GAAP) by the use of the modern information technology. The Accounting Information System (AIS) of a company is composed of six main elements of the company, namely, people who will operate the system, procedure and instructions based on which the data is retrieved from different sources of the company, the related data which is very essential for the organization’s business practices, the required infrastructure for the information technology of the company so as to smoothly operate the system comprising of both the software and the hardware and lastly the internal controls so as to adopt security measures which will prevent the leakage of the sensitive data. Thus Fonterra can be exposed to the risk of fraud and abuse related to the theft of equipment, inventory or cash of the company. Even the fraud and abuse in the accounting information system of the company may result in false invoicing; payroll fraud arising out of the accounts made for directing the salary to a non-existing employee of the company; e-commerce frauds which have become very common now a days; for high level of outsourcing forgeries takes place on the ground of assets of the company being used for personal uses. If the employee of the company is not loyal then the risk of fraud a nd abuse of the company on the ground of accounting information system may lead to the disclosure of information and the intellectual property of Fonterra. Generally the fraud of a company usually occurs on the ground of poor internal control of the company. Thus Fonterra must take precautionary measures to tighten the internal control system of the company. If the items of the company is highly desirable the chances of forgery increases leading to fraud and abuse. Other reasons behind the occurrence of fraud and abuse of the company may arise from insufficient preventive measures and detection strategies having loop holes. The company should also know how to deal with the detection of the fraud; for example if a person is convicted of committing forgery in the company, just looking at the reputation of the company the concerned person is asked to resign. But in a situation like this civil or criminal action should be taken against the fraudster. Thus the fraud and abuse of the comp any generally arises from lack of strong internal control of the company. Since the AIS department is the heart and soul of the company, on the basis of which the company is able to carry out its operations. So, the personnel being appointed in the department of AIS should go through extensive interview process in order to appoint the most appropriate person for the concerned department. Fraud and abuse are ought to happen with the increase

The Risks, Costs, and Benefits of Consumer Loan Options and Steps Research Paper

The Risks, Costs, and Benefits of Consumer Loan Options and Steps Needed To Control Costs - Research Paper Example 1.1.2 Cost of Consumer Loans There are a number of costs associated with consumer loans. These include interest, carrying charges and installment price. Before banks issues loan facility to customers, there should be a clear calculation on the amount of money to be recovered on installments basis, as well as, the amount of interest payable. All these are dependent on the amount of loan offered to the customer, the repayment period, income of the customer and interest rates as set by the financial institution. 1.1.3 Benefits of Consumer Loans One of the benefits of consumer loans is that it helps in servicing short term financial needs such as home improvements, vacations, emergency bills and wedding. It is also considered to offer security to customers. So long as an individual have acceptable credit history, the person becomes eligible for consumer loans. Similarly, a person can also use consumer loan facilities to clear previous debts thus helps in improving credit rating. Consumer loans can be used in asset acquisition. In addition, no security or collateral is required in this form of loan facility. Given that it does not require referees and other collaterals, consumer loan application takes shorter time. Finally, people poor credit history also offered the opportunity to access consumer loan facilities. 1.1.4 Steps Needed To Control Costs Consumer Loans. One of the initial steps in controlling cost of consumer loans is by adopting positive spending behavior and controlling both short term and long term personal expenditures.

Legalizing marijuana Research Paper Example | Topics and Well Written Essays - 2250 words

Legalizing marijuana - Research Paper Example A number of possible arguments for its legalization are also refuted in support of the actual and feared social, health and economic effects. The more immediate social effect of legalization marijuana production and use would be the higher chances for more crimes which could really have its related health and economic effects. If sins are the enemies of heaven, crimes are the enemies of a just and peaceful society. Thus legalizing the marijuana would have the effect of increasing the number of drug-related crimes. It is argued by those who favour legalization of the marijuana argues that the use and production domestically were not addressed by long practice of prohibiting the same. It is claimed by some supporters that despite the use of criminal penalties to prevent the use of hemp or marijuana for three quarters of a century, there still existed millions of users, which to them should be considered an evidence of such failure of prohibiting its free use and production (â€Å"420 Campaign – Top Ten Reasons Marijuana Should Be Legal†). Said claim essentially rested on the premise that people will not fear what is beneficial even in the eyes of threat of imprisonment. The validity of the above claims by the supporter of legalization become doubtful when the fallacy of the claim is exposes. The continued number of users via illegal means cannot be evidence of its failure since choosing to violate existing laws is still part of human. The fact that the substance is being used by a number people despite its being prohibited does not mean that prohibiting the same has become less effective. On the other hand, claims of success for such prohibition can be supported with crimes continued to be drug-related. It could therefore be countered that had there been no prohibition on the use and production of marijuana the greater would have been the number of crimes and therefore social effects would have been

Financial Analysis for Mining Project

Financial Analysis for Mining Project Definition of Project Finance Financial institutions use a particular type of lending known as project finance when funding a developing mining project. The loan is repaid from the cash flows generated by the project with no recourse, or only limited recourse, to the company as a whole. In non-recourse lending, no tangible assets exist until the operation is brought into production. Clearly the lender will be exposed to all the risks associated with the project which could result in revenue being insufficient to service debt. Banks will thus always take a conservative stance when evaluating the economic viability of a project and may look to the project sponsor to provide corporate guarantees for the loan. If the sponsor is a junior company with little or no collateral, the role of government-backed guarantees becomes important. Project finance is not readily available to junior companies with proven deposits but no operating production. These companies may instead generate funds from the equity market to bring the project to the stage of being a viable operation. Once steady cash flows have been established, debt finance then becomes both possible and attractive and is used to develop the project to its optimum potential. Project finance is also used to develop a particular component of well established operations, such as new mining equipment, the rehabilitation of old or the sinking of new shaft systems, or upgrading of a treatment plant. Why Project Finance? Mining projects are capital-intensive ventures with an inherently high risk, and as such are often not deemed sufficiently creditworthy to obtain traditional financing. The project sponsors may be unwilling to carry the risks and assume the debt obligations associated with traditional financing even if it is available. Project finance is an attractive alternative as it allows the risks associated with the project to be shared with the principal lender. The main advantage of non-recourse funding is that the sponsor has no obligation to service the debt if cash flows generated through mining operations are insufficient to cover the principal and interest payments on the loan. The lender has the security of a collateral guarantee from the sponsor and an economic completion test (ECT) if a project is being developed from the feasibility stage. An ECT acts as a safeguard for the lender against any flaws in the feasibility study encountered during the construction phase and over the start-up period of the project. Once the project has passed the ECT then the guarantee falls away, and the only asset the bank can claim is the actual cash flow itself. Sponsors typically seek to finance the development and construction costs of a mining project on a highly geared basis, often around 60% to 70% debt. Such financing permits the sponsor to put fewer funds at risk and develop the project without diluting its equity investment in the venture. Project finance can also lead to reductions in the cost of capital, as lower cost, tax-deductible interest is used rather than higher cost, taxable returns on equity. Financing should be structured to maximise tax benefits and ensure that all available tax benefits are taken advantage of by the sponsor. Project Financing Participants Sponsor/Developer The sponsor or developer of a mining project is the organising body that controls and has an equity interest in the company or other entity that owns the project. In mining projects there is often more than one sponsor, and these will normally join together under a joint-venture agreement to form a single corporation/partnership that will essentially function as the project owner. A joint-venture agreement must be carefully drawn up with legal involvement and must clearly state the respective rights and responsibilities to the project of the parties involved. Lender The lender of project financing is a financial institution or group of financial institutions that provide the capital loan to the project company. Lenders are usually corporate investment banking groups, though NGO involvement in project finance is important in developing world countries. Due to the non-recourse nature of project finance, the lender takes a security interest in all of the project assets. Government If the sponsor is a junior company with little or no collateral, governments may be required to provide the lender with a guarantee on the loan. This practice is particularly common in the former Soviet Union region, where formerly state-owned projects now seeking to develop in the private sector are backed by national governments in their applications for project finance. An Introduction to Modelling Metal Project Finance February 1, 2010 Schedule to Project Finance The development of a project to the stage where project finance becomes viable involves going through the following stages: resource definition drilling of exploration target; preliminary feasibility study; further project development expenditure; full feasibility study; and information memorandum. Preliminary Feasibility Study Once an economic mineral resource has been identified by an exploration group, a preliminary feasibility study is undertaken by a small group of experienced professionals to determine if further expenditure on the project is justified. The foundation of the pre-feasibility study is the development of a geological model which forms the basis of the reserve estimation. Geostatistical techniques can then be applied to determine if the deposit has been correctly sampled and provide an indication of the uncertainty associated with the estimated grade. The whole integrity of a project will be called into question if the geostatisticians have to place any qualification on the reliability of the sampling programme. Once the geometric form and size of the deposit and the concentration of the mineral have been established, an initial design for the mine and mineral processing stages can be considered. It is particularly important that the rate of production should be on a scale which is appropriate to the size of the ore body. A mine life much in excess of 10 years does not enhance the net present value (NPV) of the project, while too short a mine life does not permit adequate return on capital. A simple discounted cash flow analysis based on some broadly based engineering assumptions can then be set up, provided the reserve estimation is reliable. This will establish the overall financial viability of the project and allows a basic sensitivity analysis to be undertaken. Full Feasibility Study Most junior companies do not have the resources required to meet the high cost of generating all the data needed to undertake a full feasibility study and then fund the study itself. This phase of project development is often funded by bringing on board a major joint venture partner or by raising finance through share issues on the stock market. Essentially, the technical component of the prospectus for a market listing on one of the senior stock exchanges involves the preparation of a pre-feasibility study. Typically, a junior company with a proven deposit will attempt to establish a production capability once equity funding has been obtained. This will provide material for a full feasibility study. Before a mining project can proceed from the exploration and evaluation stage to full-scale production, all available data and relevant factors are compiled and evaluated as part of the full feasibility study. This should analyse every technical, financial and other aspects of the project. The major topics that are expected to be covered include: geology; grade and reserve estimation; mining method and plan; mineral processing design plan and test results; capital costs, taxation and royalty assumptions; operating cost estimates; product price assumptions and negotiated sales contracts; environmental considerations and operating permits; and financial modelling. Typically, a full feasibility study would involve a team of at least 10 professionals who could take up to a year to complete the task. It would be used as a blueprint when calling for tenders and awarding multi-million dollar contracts. Information Memorandum An information memorandum builds on the full feasibility study and results in the document required by the bank in any application for debt finance. While this document would incorporate a full technical feasibility study, a bank would also require background information on the borrower. This includes audited company accounts, a profile of the company structure and senior personnel, the legal framework of the company, the proposed loan terms and all the necessary information on exactly how the loan will be administered, controlled and protected. This material is all incorporated in the information memorandum. Sensitivity analysis would be undertaken on the financial model and key parameters such as operating costs and capital costs would be varied. Clearly much greater confidence will be placed on estimates provided by an experienced mining company than junior companies with no production experience. While junior companies can hire consultants to provide technical reports covering operating and capital costs acceptable to the lender, they will need to assemble an experienced management team. Getting a mine and processing plant to perform to their design capabilities is as much an art as a science. A proven track record is clearly an advantage. The information memorandum will also require an environmental audit to be carried out with specific reference to liability for previous mining activity. Superfund legislation in the US can hold lenders responsible for environmental damage at sites where loans have long since been repaid, or where degradation occurred before it was owned by the mining company to which the bank has provided debt finance. The Lenders Decision Making Process The lender will initially review the submitted information memorandum and it is then frequent practice to hire an independent consultant to perform a due-diligence test or prepare an independent feasibility study. Banks will construct their own financial models and carry out detailed sensitivity analyses. Potential risks must be identified and quantified prior to committing to a project. Given the number of independent and interdependent variables present in a mining operation, it is quite impossible to envisage all possible scenarios that could prevail during actual mining. Monte Carlo techniques are sometimes used to simulate some of the possibilities, but these assume the statistical independence of the parameters, which is clearly not valid. Once the project finance analysts have reviewed and accepted the information memorandum, their findings will be presented to a credit committee which is responsible for the ultimate accept/reject decision. The background information on the borrower and credit guarantees are particularly important at this stage. The Purpose of Modelling The size and complexity of a projects financing requires accurate financial analysis, and modelling plays a vital role in charting a projects cash flows. Both the lender and sponsor alike need to establish that future revenues will be of sufficient magnitude to meet loan repayments on schedule while still producing a residual profit for the sponsor. Discounted cash flow (DCF) modelling thus forms an integral part of the preliminary and full feasibility studies and allows the economic viability of a project with debt finance to be tested. Cash flow modelling should be undertaken throughout project development, with an increasing level of detail as more data becomes available. A preliminary feasibility should include a simple DCF model that allows the overall financial viability of the proposed operation to be established. By the time a project reaches full feasibility level, detailed engineering studies and market evaluations will have been undertaken and capital costs, operating costs, and predicted sales levels can be defined with confidence. A full feasibility cash flow model will thus be more refined and will incorporate tax and royalty formulae and full project financing scenarios. A detailed sensitivity analysis will also be included. In evaluating an information memorandum, the lender will scrutinise the cash flow model of the project and employ independent consultants to verify the cost assumptions used. The lender will perform a risk analysis on the model inputs and analyse the project financing component in order to determine the banks optimum lending scenario. DCF Analysis and the Time Value of Money The principle of discounting cash flows is based on the logic that money received in the future is worth less than that same amount received today, due to the opportunity of earning additional revenue on that sum if it were to be invested elsewhere. Suppose there is a choice of receiving $1000 today and investing it or receiving $2000 in ten years time. Which is the most valuable outcome? The answer clearly depends on the prevailing interest rate. If it happens to be 5%, the money would be worth $1629 at the end of ten years and so it would be better to wait. On the other hand, if the current rate happens to be 10% the sum would be worth $2594 in ten years time and so it would be preferable to take the money now and invest it. The break-even interest rate in this scenario is about 7.2%. Modelling incremental discounted cash flows analyses the financial viability of a project by not only testing that generated revenues are substantially greater than costs and debt service requirements, but also by measuring the present value of those profits. The underlying philosophy in DCF analysis is that the project is to be compared with investing the same stream of cash flows elsewhere. One of the essential questions in DCF analysis is how to choose the discount rate. Discounted cash flows can be used to determine the Net Present Value of the project, which is essentially a present valuation of the potential of the deposit to generate future profits. NPV is calculated as follows: Projects with an NPV greater than zero will produce greater revenues than their costs at the minimum acceptable rate of return (the discount or hurdle rate), and mutually exclusive investment opportunities are ranked by magnitude of NPV. The Internal Rate of Return (IRR) and Payback Period of a project can also be calculated from a model of future cash flows. IRR is essentially the discount rate at which NPV at time zero of all cash flows is equal to zero, and is calculated as follows: A project is profitable if the IRR exceeds the opportunity cost of capital (the projects discount rate), and mutually exclusive scenarios are ranked by magnitude of IRR. Payback period is simply the time taken for the initial capital investment to be recovered by the stream of annual positive cash flows, and is not generally used alone for making an investment decision as it takes no account of the time value of money. Developing a Spreadsheet-Based Model The most important elements to remember when developing a spreadsheet model of projected cash flows are clarity, consistency, and flexibility. The spreadsheets used in some projects can be very large and complicated, with entries going from page to page. Spreadsheet cells call for results from other cells which in their turn call other cells. It is not always easy to follow the logic of the steps being carried out and, when the spreadsheet is very convoluted, there is a real possibility of artefacts being introduced. Even if there are none, it becomes very difficult to test the projects sensitivity to input parameters. There is great benefit to be gained from a consistent basic layout with a clear flow of logic throughout. Input pages, calculations, and output reports should be kept in separate areas. This course has employed the use of IC-MinEval, a purpose-designed software package for the financial evaluation of mining projects. IC-MinEval automates all the stages required to produce an Excel-based DCF model of a mining project through a series of clearly defined menu-driven forms that prompt the user to enter all the necessary technical and financial variables. Once the key technical and financial data has been entered, it is checked and a comprehensive series of Visual Basic routines ensures that a set of Excel worksheets are generated to form a customised DCF model. The DCF method of analysis has the advantage that a model can be constructed which reflects the primary technical features of the project. This does, however, require a level of knowledge about the operation which may not be available outside the company, but it is still possible to develop a model based on comparative scenarios which can provide the basis for a preliminary valuation. This is the approach followed by IC-MinEval and adopted in this course. The first step in creating a spreadsheet cash flow model is to compile all available project information on an input sheet database. This includes all the technical information which will allow calculation of mine life, annual ROM production and annual production of saleable commodity. The input sheet must also contain project cost information to allow calculation of annual capital, operating, and transportation costs. Finally, financial data must be input, including sale price, tax and royalty rates, project discount rates, and project financing information. A separate series of worksheets can then be created to calculate the annual production, sales and costs. The results are then used to construct a model of the cash inflows and outflows in each year of the projects life. A mine life much in excess of 10 years does not enhance the NPV of the project, while too short a mine life does not permit adequate return on capital. A project with a very long potential lifespan should thus only be modelled over the first 10 to 15 years of its life. It is unlikely that a mine with a longer life could operate effectively without additional capitalisation and so the cash flow forecasts for the later years would be highly subjective in any case. Project Input Data The input data needed to construct a spreadsheet-based cash flow model is divided into project technical information and financial information. IC-MinEval has a series of input screens which prompt you for all the necessary data, navigated from an input menu screen (Figure 1). The basic technical inputs can be subdivided as follows: general project information; resource information; mining rates; costs; commodity price; expenditure; and environmental and closure provisions. General Information General information is required on the commodity/ies, and on the mining method that is to be used to exploit the resource. The choice of mining method has important implications for the rate of production, equipment, capital expenditure and mining operating costs. The permitting and construction period also needs to be established in order to determine the total pre-production period of the project, the time after the initial capital expenditure (capex) has been spent before production (and revenue) can begin. In terms of project finance, the end of this period signifies completion when the projects cash flows become the primary source of debt repayment. Resource Information Information is required on the size of the deposit, the grades, and several other mining parameters. The total mineralised volume of the deposit revealed by geostatistical evaluation can be multiplied by the specific gravity of the particular ore-type to calculate the total in situ ore reserve tonnage. The expected mining recovery (the percentage of the in situ ore that can be mined) provided by the engineering study is multiplied by the total in situ ore tonnage to determine the total ore to be recovered.The expected dilution (the amount of waste rock that is mistakenly mined as ore), stripping ratio (the amount of waste material needed to be removed for every unit of ore mined in surface operations), grade (average grade of ore mined that is higher than the economic cut-off) and plant recovery (the percentage of the commodity contained in the ore rock that can be extracted by the plant) are also required in order to establish the quantity of the saleable commodity produced. Mining Rate The mining rate needs to be established because it directly affects the mine life and capex, as the more rock mined per year, the larger the processing plant and equipment that is required. In addition to the average rate during full production, it must also be established if the mining rate is to be varied over the first few years of production, to model a more realistic slower start up rate. It is particularly important that the rate of production should be on a scale which is appropriate to the size of the ore body. A mine life much in excess of 10 years does not enhance the net present value of the project, while too short a mine life does not permit adequate return on capital. Costs The reliability of a cash flow model often hinges on the accurate determination of the projects capex and operating costs. If these are known, or an accurate estimation is made from similar operations, then these figures can be entered directly. However, project costs are often not known with any degree of certainty during the construction of an early financial model. In this case, OHara cost formulae can be used to calculate rough estimates of capex and operating costs (OHara and Suboleski (1992)). Capex Capital costs (capex) are costs in a particular year that will produce benefits in later years. The major capital requirements in mining projects are the cost of constructing the mine site (including purchase of mining equipment), mill and processing plant. Additional costs and expenses that will be incurred in developing a project are termed capital overheads and can be entered into the model as a percentage of the total capex. Operating costs Operating costs (op costs) are costs that only produce a benefit for that year and are calculated annually. In order to establish the total operating costs per tonne of saleable commodity, the costs of mining ore, mining waste and processing must be established. There may be annual fixed operating costs (e.g. administration costs, salaries, office overheads) that must also be incorporated into the model. If coal or an industrial mineral product is the commodity in question, an additional transport cost component must be established. Commodity Price The expected sale price(s) of the product(s) and how this/these will vary over the project life must be established. It must be decided whether the commodity/ies will be sold entirely on the spot market or whether a percentage will be forward sold at a different price. Hedging details must be incorporated into the model if forward sales are to be applied. Expenditure The model must reveal how capex payments are to be spread over the first few years of the project and the amount of working capital to be used must be established. The capex is unlikely to all be employed in the first year of the project, depending on delays and the construction period. Working capital is the capital reserve required for the day-to-day running of the operation and can be expressed as a percentage of the annual operating costs, normally set at around 25%. Environmental and Closure Provisions A financial model should include the expected environmental costs and additional costs associated with the projects closure. This may incorporate a fixed bullet payment at the end of the mine life to cover environmental rehabilitation costs, a sink fund at the beginning of production that acts as an environmental bond to cover rehabilitation costs, and annual environmental costs during production and after mining to cover on-going costs. It must be established how long after completion of mining the annual rehabilitation costs have to be paid. Basic Financial Parameters The financial inputs to the model set the basic financial parameters of the project, such as tax and inflation rate, depreciation, and project financing scenario (Table 1). Discount Rate and Cost of Capital There are two methods of discounting that can be used to calculate the NPV in a financial model. The pre-determined discount rate can be used or the weighted average cost of capital (WACC) can be used. WACC is calculated as follows: As the NPV is calculated on the cash flows before funding but after tax, an allowance is made for the tax implications of interest payments on debt. The cost of debt is calculated as: The WACC thus varies according to the debt/equity ratio of the projects funding structure. The cost of equity is generally higher than the cost of debt, reflecting the higher rate of return required by the equity holders in comparison to the cheaper interest rate on debt. Thus the greater the percentage of total capex funded by debt, the lower the WACC and thus the more favourable the calculated NPV. This is an essential principal of project finance. Project Finance Parameters Input information is required to set up the financing structure of the project including the amount of debt and equity, interest rate and repayment schedule. Capital structure The debt/equity ratio and the size of debt will be decided by the lender. This can be expressed as a percentage of the total financing requirements that will be funded as debt. The optimum draw-down period for the debt funding will be agreed between the project sponsor and lender, and may be drawn out over as long a period as the first five years of the project. Loan type and repayment schedule The schedule for loan repayment needs to be established in order to complete the cash flow model. The number and size of loan repayments will be negotiated between the lender and sponsor, as will the grace period, if any, before repayments must commence. Loan repayments can be made in equal instalments (straight loan) or made proportional to the production rate (production loan). There will be other cash flows associated with organising the project finance that must also be included in the early years of the model. These include an up-front fee by the bank for arranging the loan (a percentage of the total loan available), a commitment fee (an annual fee charged on the amount of the loan that has not been used), fixed charges (for agents fees, legal documentation, independent reports, etc.) and contingency to act as a cushion against unexpected cost rises, etc. (a percentage of the total required funding). Loan interest rate This is the annual rate of interest on the debt as set by the lender. Return on equity This is the annual expected return on equity invested as funds. This can be calculated by a variety of methods including the Capital Asset Pricing Model (CAPM). It is often linked to the overall company gearing of the project sponsor. Demand for Nickel Top of Form Session Headings: Bottom of Form Introduction Nickel is one of the more common elements in the composition of the earth, but it is sparingly distributed in the earths crust. Nickel is usually found in modest concentrations and occurs in conjunction with a wide variety of other metals and non-metals. The worlds nickel resources occur in two main geological settings: in secondary minerals such as garnierite and limonite contained in nickel-bearing laterites; and in sulphide minerals associated with mafic and ultramafic igneous rocks. The nickel grade of lateritic ore typically ranges from 1-2%, and that of sulphide ore from 1-4%. Nickel is of considerable economic and strategic importance to many countries, its main use being a critical component in the development of metal alloys. More than 80% of the worlds nickel production is used in alloys, and about 60% of global nickel is used specifically for the manufacture of stainless steel (NIDI (2005)). Nickel is also used in the manufacture of Monel Metal, a corrosion-resistant alloy used by the shipbuilding industry, and is an important strategic metal. Throughout the early 1980s the growth in nickel production exceeded the growth in demand, but the late 80s and early 90s saw this trend reversed as the number of emerging new applications of stainless steel, combined with its rapidly-improving price competitiveness, generated a sustained growth in demand for nickel metal. Indeed, Chinas use of nickel-containing stainless steel and its use of primary nickel have grown dramatically and with impressive consistency over the last fifteen years (NIDI (2004)). Nickel s tocks were rapidly depleted over the middle years of the 2000s, but recovered during the 2008/9 world financial problem period. Concern over depleting reserves of sulphide ores, the traditional source of nickel metal, and high nickel prices led to renewed interest in nickel laterite ores that were previously thought too technologically difficult and costly to treat. The introduction of High Pressure Acid Leaching (HPAL) as a large-scale hydrometallurgical method of concentrating nickel metal and cobalt by-products from limonitic laterite ore appeared to enhance the feasibility of laterite deposits as a long-term solution to the continuing demand for nickel. However, poor initial operating performances at major new HPAL processing plants have cast doubt over this technologys ability to provide a large-scale supply of nickel while operating economically. So sulphide deposits remain the main source of nickel metal. The following working sessions therefore will concentrate on sulphide nickel deposits and provide a review of the major technical aspects of nickel projects that must be taken into consideration in th e economic analysis of such operations. Part 5 introduces a typical nickel sulphide case history with which to demonstrate the modelling of nickel project finance. Prices and Markets The nickel price is closely linked to the global demand for stainless steel which is in turn governed by industrial productivity associated with the global economic climate. 2007-08 witnessed a huge fall in London Metal Exchange (LME) nickel prices (Figure 1), principally due to the collapse of the world economy resulting in huge drop in demand for and production of stainless steel associated with the recession. 2009 has witnessed a modest resurgence in the LME nickel price as demand has outstripped production. Since 2002, a booming commodities sector, partly driven by the rapid growth of China, put substantial pressure on nickel suppliers to meet demand. This in turn had a huge impact on prices. However, forecasting forward much is dependent on how sustained the 2009 easing of the recession will be. The general trend of increasing nickel prices in through most of the mid 2000s, generated renewed interest in the nickel sector. Western Australia in particular witnessed significant increases in production over the past period, with several new major nickel sulphide and laterite projects arising. However, the new HPAL laterite operations in the region did not live up to expectations, with over-optimistic product