retail Essays - Essay, PayPal, Authors Books, Short Overview

Generally, an article rundown is composed after you have finished your paper. You should compose it on a different piece of paper. Presently, let us talk about the substance of an article rundown. How is it going to be? In a couple of words, an article summation can be known as a rundown. This will be a short diagram of the fundamental focuses, principle contentions and thoughts of your paper. Moreover, we need to caution you that an exposition abstract some of the time can be mistaken for an outline paper. The last is a bit of paper finished on crafted by different writers (books, articles, and so on.). It has somewhat various prerequisites and purposes. The primary concern you ought to recall about an exposition summary is that you will make your very own review work. Purchasing a specially composed paper at OvernightEssay.com is as simple as it can get! We acknowledge for all intents and purposes all installment strategies including PayPal, Egold, Credit Cards, Wire Transfer. Buy a uniquely composed article currently to get convenient assistance! Our composing administration has long stretches of involvement with custom composing industry ? request your custom papers with conviction! Your papers are nevertheless a couple of snap

Go Ask Alice Book Review Essay

Presentation Go Ask Alice is a 1971 book about the life of a grieved adolescent young lady. The book proceeds with its case to be the genuine journal of an unknown high school young lady who got dependent on drugs. Beatrice Sparks is recorded as the writer of the book by the U.S. Copyright Office. The epic, whose title was taken from a line in the Grace Slick, wrote Jefferson Airplane melody â€Å"White Rabbit†, â€Å"go ask Alice/when she’s ten feet tall†, is introduced as an enemy of medication tribute. The memoirist’s name is never given in the book. Disclosures about the book’s inception have been a reason for question regarding its genuineness and authentic records, and the distributers have recorded it as a work of fiction since in any event the mid-late 1980s. In spite of the fact that it is as yet distributed under the byline â€Å"Anonymous†, it is to a great extent or completely crafted by its implied supervisor, Beatrice Sparks. A portion of th e days and dates referenced in the book put the course of events from 1968 until 1970. Its significant subjects would be trouble of correspondence and issues of youthful personality. It is composed a progression of occasions as numerous journal passages. Rundown of Content September eighteenth December 25th Alice clarifies that she got herself a journal upbeat, in the wake of being asked out by a person she preferred. She accepted she at last had wonderful considerations to shear with herself through composition. Following the following day, he dismisses her. Alice is wretchedly uncertain and asks why individuals consistently appear to offend her. Days pass by and her fifteenth passes, and her weariness with life is interfered with just by weight increase and her going with self-loathing. She later discovers that her dad has acknowledged an instructing position at an alternate school and the family needs to move toward the beginning of the New Year. Over the time Alice’s mother has taken seen of her unpredictable dietary patterns and powers her to eat. She at that point begins to dismiss her mother’s care and thinks about whether she could make herself hurl subsequent to eating. Over the long haul Alice composes that she is generally herself with her dairy, and fears the loss of her personality attempting to fit in with every other person. All through this time she shows a sharp feeling of knowledge and attention to her feelings and reviews numerous perceptions as a well as her sentiments. She alludes to her journal as an individual, trusting in it and requesting that it assist her with checking her weight reduction plan as though it were a dear companion. This for sure is one of the significant subjects in Go Ask Alice. January first July fourteenth Alice expounds on her energy for the family’s huge move, yet trusts to her journal her feelings of trepidation of not changing in accordance with life in another spot. In the wake of settling in, Alice adjusts her perspective on the house which she initially thought was unappealing, yet now she considers it to be delightful. As time passes by the remainder of the family has adjusted well to their new environmental factors, however Alice feels like an untouchable. She thinks about how, in a group of friendly individuals, she generally figures out how to feel far off from others. With the progression of time, Alice hasn’t made any companions and has put on weight once more. All through this time, her drew nearer develops increasingly ugly and she feels like a social outsider and is disappointed with everybody and everything around her. She likewise discusses her new companion she meets named Greata; who she feels is similarly as ugly and cumbersome as her. Alongside Greta, she discusses Beth a Jewish young lady who she meets that lives in the neighborhood. She finds that she can converse with Beth about anything; subsequent to communicating that she and her mom can no longer talk like they use to. She keeps on composing as he summer has begun and plans to go through the mid year with her grandparents. While there she is welcome to a gathering where she is acquainted with a game which remembers arbitrarily trickling LSD for a few soft drink bottles which she turns into the beneficiary of. After she got mindful of the repercussions she cheerful for the experience yet never needs to take medicates again. All through this time, she thinks about her journey into the new universe of medications to Alice in Wonderland. Alice experiences a progression of social changes in with in the primary portion of the year, and her precariousness clarifies her interest for drugs. She looked for asylum recorded as a hard copy however tranquilizes give a simpler access into her awesome world, where she feels a relationship with individuals and the things around her. July twentieth September tenth She goes out on the town with Bill and investigations with more medications. She feels like a total new individual, better about herself and she adores going out. While at her grandparents her granddad had a smaller than normal coronary episode. She wanders away from her companions in the endeavors in helping her grandma with her granddad. Later she subsumes to the weight of her companions and goes out to a gathering at Bills house where she takes corrosive. She likewise loses her virginity to him while on corrosive; which she communicated it similar to another splendid, freaky way out, some portion of her sedated undertakings. Presently, she searches for somebody to converse with about medications however she doesn’t realize who to inquire. Attempting to sift through her numerous sentiments she begins to take resting pills which she adores. Medications causes Alice to feel like the individual she never was. Affected by speed, she says, she feels like an individual from a â€Å"different, improved, idealized species†. What Alice got from the medications was a feeling of being cherished for who she truly is, by others around her who is on drugs. September twelfth November 22nd Alice in now back home where she meets a companion name Chris and is given a vocation working with her are a neighborhood supermarket. She keeps on popping pills at whatever point she gets drained or hungry. She is then acquainted with pot and is presently utilizing just as selling it. She at that point winds up in what will end up being a grievous double-crossing; when she discovers reality with regards to Richie’s mystery undertaking with Ted. As time pass, Chris and Alice chooses to escape San Francisco and pledges to turn Richie in and remains calm with Chris. She gets to San Francisco where she and Chris both secure positions to help themselves. She additionally develops inside this time period, finding out about her sexuality. Nonetheless, she has not engage in sexual relations calm yet. Underneath Alice’s hallucinogenic experiences is her proceeding with want to discover somebody with home she can have a similar open, adoring relationship she once had with her family. Her moving feelings concerning her family were the significant reason for her flight, yet she aches for them in San Francisco. November 23rd-End of Diary One Alice has now gone through her by trail by fire, and she feels like a grown-up from the manner in which others treat her as a person. She announces â€Å"I am someone: yet her genuine development isn't from how others react to her, however from astute reflections on what it intends to survivors the upset occasions of pre-adulthood. She isn't totally prepared to acknowledge her past, she needs to apologize for her transgressions, yet she additionally wishes she could push her bad dreams in the rear of her brain. Alice at last increases enough outright experience and banter all the more sincerely with different wanderers in this segment to see better what has caused her decrease. Alice analyze her genuine issue when, cheerful about her father’s love for her, she wishes she could just love herself. On the off chance that she could do this, she would think less about revolting or fulfilling her folks and rather center around her own, isolated wants. All through this area she builds up a conviction of Christian reclamation on her own when it happens to her that enduring may have been beneficial, as she would now be able to comprehend and be all the more comprehension of individuals. Her choices to h help other people has profound strict reasons, and she parts of the bargains. Journal 2 April sixth May 21st Alice develops profoundly in this area, growing her affectability. Her expanding want to turn into a direction counsel appears. She has now discover a character that will some time or another suite her, and keeping in mind that she is still in torment on occasion, she is as of now showing signs of improvement at speaking with others and appreciating an existence with soberness. She and her folks both presently approach each other with deference and concern. Her granddad kicks the bucket and she is making some hard memories managing the circumstance now. Additional alarming to Alice is her actual vulnerability hotel her glimmer back scene and the subsequent dread that she may lose her psyche. May 22nd Updated July Alice writes in her undated journal from an emergency clinic. She is uncertain how she has wound up here and can just think about the worms she believes are decimating her. She has clearly been gnawing her fingers down deep down; she relates this to the demise of her granddad. Alice uncovers that a unintentional portion of corrosive is the reason for her breakdown. Her mom and father accept that another person â€Å"tripped† Alice without her knowing it. she discovers she is being sent to a crazy haven. Her dad discloses to her that when her case was brought under the steady gaze of an adolescent court, Jan and another young lady affirmed that Alice had still been on drugs and was selling them. She enrolls at the State Mental Hospital. She is startled by the terrible structure and by the detainees, whom she feels are unique in relation to her. Notwithstanding the psychological abhorrences Alice bears, her brain remains fairly versatile and her journal turns into her actual hav en. She is sent away to the refuge to find support. July 27th Epilog Alice attempts to supplicate however feels the words are bogus and negligible. She longs for death. She begins going to class at the Youth Center, which is an alleviation contrasted with her room. Life in the haven is depleting her in all manners, as it has just accomplished for Babbie. She tunes in to different children in a gathering treatment meeting, which she finds supportive. Alice’s mother and father visit. Another visit from Alice’s guardians brings a long letter from Joel. Her dad reports that Jan has withdrawn her announcement, and they’re attempting to get the other young lady to do likewise,

FAQ Brochure COLUMBIA UNIVERSITY - SIPA Admissions Blog

FAQ Brochure COLUMBIA UNIVERSITY - SIPA Admissions Blog Our Web site is obviously the best resource to use when researching questions you might have about our MIA and MPA programs, however each year we publish a small brochure that highlights the most frequent questions asked of us.   Questions like: What is the make up of the SIPA student population? What kinds of employers do SIPA graduates work for? What are the core requirements for an MIA/MPA degree? What are the fields of study available at SIPA? These questions, and many more, are answered in a brochure that you may view by clicking here.   The document is a PDF and you also have the option of saving it to your computer.

Literary Elements In Macbeth - 1998 Words

Great authors use literary elements to develop a message. William Shakespeare’s play, â€Å"Macbeth†, tells a tale about a man who desires to rule the country of Scotland as king. With three witches that tell him his future, Macbeth realizes that his life would be better off as king, but in order to seize the throne, he has to kill the current king. After motivation from his wife to kill the king, Macbeth’s life follows a series of events and actions that eventually lead to his death. Shakespeare uses characterization, conflict, and author’s purpose through â€Å"Macbeth† to convey to others that their worst enemy can potentially be themselves through the tragic flaw of overconfidence. Through Shakespeare’s use of characterization, he portrays†¦show more content†¦Later on, Macbeth pleads the three witches to tell him whether or not Macduff will threaten his reign. Desperate to secure his seat as king, Macbeth wants to â€Å"make assurance double sure, and take a bond of fate† (Shakespeare, IV, i, 83-83). Even though Macduff will most likely not expose Macbeth, Macbeth wants to make it certain that he will remain king. Shakespeare characterizes Macbeth as a man who uses ambition to carry out his actions by making him take desperate measures to secure his throne. As the play develops, Shakespeare purposely transforms Macbeth as someone who requires motivation to take action into a man who makes his own decisions to take aggressive steps in order to remain in control. Shakespeare uses conflict of a high office to demonstrate how desire for power can lead to the downfall of a person. Once Macbeth holds power as king, he realizes how he can live a life full of extravagance. Obsessed with the idea of gaining more power, Macbeth wants to ensure his kingship. Afraid of potentially losing his power, he feels the need to kill all possible enemies, such as Banquo. Macbeth knows that he â€Å"could with barefaced power sweep him from my sight† (Shakespeare, III, ii, 118-119). With this new power as king that Macbeth possesses, he now believes that he can get away with not following the laws.Show MoreRelated Literary Devices Used In Macbeth Essay example911 Words   |  4 PagesLiterary Devices used in Macbeth Imagine how dull a Shakespearean play would be without the ingenious literary devices and techniques that contribute so much to the fulfillment of its reader or viewer. Macbeth, by William Shakespeare, is a tragedy that combines fact and legend to tell the story of an eleventh century king. Shakespeare uses numerous types of literary techniques to make this tragic play more appealing. Three literary devices that Shakespeare uses to make Macbeth more interestingRead MoreMacbeth And Macbeth1274 Words   |  6 PagesThe purpose if this essay is to prove that the theme in the two contrasting literary works of Twilight saga: eclipse by Stephenie Meyer and Macbeth by William Shakespeare are alike. The theme of destruction being inevitable in both literary pieces are the same through the element of symbolism used to connect and foreshadow events in each piece. Although the plot for each novel differs, the twin methods of symbolism they utilize evidently leads to inevitable destruction and deserve further examinationRead MoreMacbeth Explication Essay924 Words   |  4 PagesMatt Cuyler 12/17/17 F Block Macbeth Explication The â€Å"Tragedy of Macbeth† by William Shakespeare tells a tale of deceit, murder, and ambition, beginning with a cutthroat rise to power, followed by calamitous downfall. At the start of the play, Macbeth is a brave and loyal captain in King Duncan’s army, but after three witches prophesize that he himself will become the king of Scotland, and that those born of a friend, Banquo, will be king after him, Macbeth is overtaken by ambition and gluttonyRead MoreTheme Of Ambition In Macbeth876 Words   |  4 Pages17th century play Macbeth, is a timeless tale of fate, power, and the consequences of ambition. Despite vastly different interpretations across the centuries due to different cultural and historical contexts, the story remains powerful and relevant today because of its universal themes. Since the play was essentially written for King James I, Shakespeare heavily reinforces the king’s own beliefs and values. Although we do not follow these doctrines in the present day, the literary techniques used throughoutRead MoreWilliam Shakespeare Remains A Powerful Literary Force To1091 Words   |  5 PagesWilliam Shakespeare remains a powerful literary force to this day, and few of Shakespeare s works are as well-known as Macbeth. The play s epic tale of ambition and greed never fails to captivate audiences. The major themes of this quintessential work are hackneyed in the world of literary criticism: the role of ambition in Macbeth s demise, the role of spirits and witches in carrying out evil, the corrupting of human morals, and many other similar themes. However, another equally important themeRead MoreTheme Of Ambition In Macbeth915 Words   |  4 Pagesand its ramifications are extensively portrayed within William Shakespeare’s tragedy; Macbeth. Within this play, ambition is portrayed as a corrupting and unquenchable force through the main concepts of mental imbalance, supernatural behaviors and betrayal. The consuming desires o f Macbeth and their repercussions are vividly enhanced through the use of various expressive literary techniques. Ultimately, Macbeth is a play that explores and reiterates the tragic and pestilent nature of unreasoned aspirationsRead More Macbeth vs Scotland, PA Essay1114 Words   |  5 Pages Macbeth: The thin line between tragedy and dark humor. William Shakespeare’s Macbeth has always been considered one of the literary worlds most celebrated tragedies. It is arguably the darkest and most gruesome of his plays. The protagonist, Macbeth, is the poster child for tragic hero, â€Å"a literary character who makes an error of judgment or has a fatal flaw that, combined with fate and external forces, brings on a tragedy† (www.dictionary.com). And until recently we were satisfied with that†¦Read MoreWilliam Shakespeare Has Remained A Powerful Literary Force1088 Words   |  5 PagesWilliam Shakespeare has remained a powerful literary force to this day, and few of his works are as well known as Macbeth. The play s epic tale of ambition and greed never fails to captivate audiences. The major themes of this quintessential work are hackneyed in the world of literary criticism: the role of ambition in Macbeth s demise, the role of spirits and witches in carrying out evil, the corrupting of human morals, and many oth er similar themes. However, another equally important theme isRead MoreThe Importance Of Literary Elements In Literature1180 Words   |  5 Pagescommon literary elements to help us read into a story beyond the text. From the first independent book we read to short stories we read together in class, we have all improved drastically as writers. The first thing we did in starting our English ten honors course was to pick an independent book to read over the summer. I picked The Da Vinci Code written by Dan Brown. Our assignment for this was to name three literary elements the author used well. I said that the best used literary elements used inRead MoreDirecting Act 3 Scene 4 of William Shakespeares Macbeth Essay1053 Words   |  5 PagesDirecting Act 3 Scene 4 of William Shakespeares Macbeth It is extremely important that an author is able to manipulate a readers feelings towards a character in literary pieces; this is achieved by William Shakespeare. Shakespeare incorporates the use of imagery throughout the play; animals, blood, clothing and weather are some of the main components used as symbols. Literary elements such as symbolism are used for example the owl or falcon which when the play was

The Physics Of Welding Process - 1162 Words

WELDING PROCESS Overview: It is defined as a process of joining two pieces of metals by heating the metal at high temperature which results in softening or melting of metals. There are various other ways of welding, they are as follows: †¢ With or without application of pressure. †¢ With or without the use of filling metals (Melting point is 800 º F) There is a tremendous progress in recent times over the new methods, applications and systems for welding. HISTORY OF METAL WORKING: This processes are practiced since the humans began to found that they could shape rocks by chipping them with other rocks. The first metal which were used by early human beings was copper that is Ductile (It can be easily bend or drawn, hammered). The welding technology began 3000 years ago in Egypt (4000 B.C and USA before 2000 B.C). The Old Testaments which were recovered from the earth’s crust reflects the use of Forged metals, bronze and iron metals. In between 3000 and 2000 B.C Bronze metal was developed and Iron came into existence several thousand years after the invention of copper. Philistine recovered four iron furnaces of 1300 B.C this was the same metals used in production of swords, chisels, daggers and spearheads. Egyptian began making iron tools during 900 to 850 B.C, they replaced usage of bronze in various manufacturing applications with iron after 800 B.C. INTRODUCTION: Welding is a process of joining two different materials, the large bulk of materials which are welded togetherShow MoreRelatedThe Military Sector Of The Marine Corps1734 Words   |  7 Pagesexploitation is a human endeavor and until unmanned technologies take over completely, is it not the Marines using the technologies that are the assets? In the civilian sector, experience is often necessary in most fields; however, machining and welding are lifetime professions in which experience is highly sought after. This is because they are both a craft, requiring dexterity and an artistic skill that is inherent when fabricating or reverse engineering parts. These crafts can only be master withRead MoreHow Technology Enters The Picture1729 Words   |  7 Pagesour leadership style. The Marine Corps’ continuous improvement process tell us that it is both an opportunity and an obligation and it is the responsibility of Marine leaders and supervisors at all levels to bring good ideas t o the surface and support their implementation (MCO 5220.12, para 1.2). As we look for technology and tools to innovate, one untapped resource that the Marine Corps has yet to maximize is the machining and welding capabilities, which reside mostly in our Ground Ordnance VehicleRead MoreTheme Of The Book By Alex Rogo1505 Words   |  7 PagesTheme of the book: As the name of the book mentions â€Å"Goal: ongoing improvement† but it just does not explain the goal and ongoing process to improve the system but also talks about the theory of constraints. Constraints which we face in real life situation. The main character in the book is Alex Rogo who is the manager of manufacturing plant. His plant is one of the few plants which company operates. Alex’s plant was not making enough money to sustain on its own. Orders were getting delayed oftenRead MorePokemon and the Steel Industry1115 Words   |  4 Pagesenough fuel to smelt iron in the next century, and abrasive water cutters are not innovating since their introduction. In the recent wake of these events an unlikely source has been uncovered to help aid these problems and that source is the math and physics of pokemon. Pokemon is a franchise of turn based RPG games in which creatures with many crazy features fight each other for glory. Over the years pokemon has been getting c razy with what these creatures are based on and some designs and descriptionsRead MoreWhat A Railgun Is It Functions, And Why It Was Created2443 Words   |  10 PagesThis research paper will show and illustrate the basics of what a railgun is, how it functions, and why it was created. From there, it will further explicitly explain some of electromagnetics and physics that dictate the machine and its operation. Finally, a few of the arduous problems as well as what impact the railgun might have in our future is explained. I. Introduction By definition, a railgun is â€Å"a weapon consisting of a pair of parallel conductive rails, using a magnetic field and electricRead MoreEssay on Ford and Flexible Manufacturing1093 Words   |  5 Pages The automotive industry is a highly competitive market where brand loyalty is only as strong as the latest gizmo and horsepower upgrade. The automotive assembly process, perfected by Henry Ford, was based on the simple principle that â€Å"customers can order a Model T in any color they wanted as long as it was black.† After the 1920’s the market witnessed new entrants with unheard of automobile features that ended Ford’s golden age. New automakers such as Buick, Chrysler, and Oldsmobile offered customersRead MoreManufacturing Engineering : The Industrial Revolution1474 Words   |  6 PagesThere was no particular specialist in production control, manufacturing engineering, industrial engineering, and quality control. However, as the manufacturing company an d factories got larger and more complex, the supervisors could not manage the process nor did they have sufficient knowledge to handle tooling, planning or material control. Consequently, there was an augmented effort for expertise in engineers, and technical training to facilitate the production of planning, tools, as well as, processesRead MoreAn Introduction Of Navajo Constellations1358 Words   |  6 Pagesexisting in a non-static and constantly regenerating process. Every human action is considered Cosmic and â€Å"affects the web of universal relationship† similar to the principle of non-locality in quantum physics. They believed that light created the origins of life and gave brith to the evolutionary process. This shows that the Navajo’s belief system is a mixture of biological fact and supernatural phenomena as they do believe in the evolutionary process but in a more spiritual way than they common DarwinianRead MoreWbut Syllabus 1st Sem11442 Words   |  4 6 PagesHours/Week L 2 3 3 3 3 0 0 1 T 0 1 1 1 1 0 0 0 P 0 0 0 0 0 3 3 3 Total 2 4 4 4 4 18 3 3 4 10 0 0 0 0 2 2 2 2 4 32 Credit Points C. 9 10 Chemistry -1 (Gr-B) / Physics – 1 (Gr-A) Mathematics-1 Basic Electrical Electronic Engineering – 1 (GrA+GrB) ME101 Engg. Mechanics Total of Theory PRACTICAL PH191/ Chemistry -1 (Gr-B)/ CH191 Physics – 1 (Gr-A) ES191 Basic Electrical Electronic Engineering -1 ME191 Engg Drawing Computer Graphics (Gr-B) /192 / Workshop Practice (Gr-A) Total of Practical SESSIONALRead MoreThe Development of Science in Ukraine, Tenses and Voices.2520 Words   |  11 Pagesmicrobiology (D. Zabolotny), biology (0. Bohomolets), chemistry (L. Pysar/hcvsky), electrical welding and bridge-building (Ye. Paton), physics (M. Boholiubov), cybernetics (V. Glushkov), space engineering (M. Yanhel), etc. Ukrainian scientists and scholars can boast major achievements, such as the artificial nuclear reaction to split the lithium nucleus; production of heavy water; a procedure for automatically welding lank bodies; the Europes first computer; new areas pioneered in metallurgy: electric metallurgy

Ethical Viewpoint Free Essays

string(68) " care about these residual duties, the whole society may go down i\." Introduction: Corporate Social Responsibility (CSR) is always an on-going issue that companies have to cope with. What are the responsibilities that companies should take other than the maximization of return to shareholders and by taking such responsibilities, how it may affect the operation of the firms as well as how effectively such actions could have on the society. There have been two main positions on the CSR issue. We will write a custom essay sample on Ethical Viewpoint or any similar topic only for you Order Now The first is the Friedmanian one stating that â€Å"there is one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the games† (published in the book â€Å"Capitalism and Freedom†). The other view is that companies can and should deviate from the goal of maximizing profit to take others responsibilities that help to promote the total welfare of the whole society. I will first discuss these two viewpoints and give my opinions on such reasons then, finally, draw up my conclusion on CSR. Discussion of the Friedman point of view: From the Friedman viewpoint, businessmen who seriously take the CRS such as fighting poverty, avoiding pollution†¦ are â€Å"unwitting puppets of the intellectual forces that have been undermining the basis of a free society†. He stated that the responsibilities of a company rest mostly in hand of the sole proprietors or the corporate executives. However, while sole proprietors are individuals i. e. they can act on their own behave, for corporate executives, there are several reasons that restrict them from exercise any other responsibilities than maximizing the return to shareholders – owners of the company i. . usually maximizing the profit. The first reason is that in a private-property system, the executive is an employee of the shareholders, which means that he voluntarily and personally agrees to work under the direction and supervision of the shareholders in return for salary or other remunerations. Therefore, the executive has to commit with the shareholder s’ interest, which is usually maximizing the profit. In some cases where the interest of the shareholders is not economic one than the work of executive may vary but it must be in line with the shareholders’ interest. This is also enhanced by law that the shareholders have the right to appoint or dismiss the executive. Therefore, if he cannot comply with the shareholders’ interest, he can be fired, which, from a personal point of view, there is no good for him to conduct CSR on behave of the company. In short, an executive of a firm, who has a huge impact on how the firm acts, is bound by the responsibility to the interest of the shareholders. This also implies that the executive cannot deploy resources that are not owned by himself to other social usages i. e. e cannot lower the price to stop inflation, he cannot make expenses for environmental practices beyond the legislation, he cannot give the earnings of the company to charity organizations. Because by doing so, he indirectly harms the interests of the owners of those resources. It seems that the CSR does not rest on the executives but rather on the owner of the company. Therefore, it may not suitable to discuss the role of the executi ve in conducting CSR but the decisions and interest of owners are what matter here. It is not affected whether the firm wants to conduct CSR or not but whether the owners want to take such responsibilities. The question here is that whether each of us (as individuals) should sacrifice our personal interests for the common good. The second reason is that when firms do CSR, it violates the efficient division of labour in the society. Doing social responsibilities on behave of the company is the same as redistributing resources in the society, a process which is currently carried by taxation system. This raises political questions in two levels: principle and consequences. On the grounds of principle aspect, the taxation is done by the government. There are structures, mechanism to determine who will be taxed, the tax level, and how the tax money should be used. The whole process is to correct market failures and make sure a fair and balanced distribution of resources for the society, in the name of the greater good. By doing CSR, the executive has taken the tax function of government. He decides to tax shareholders, employees, customers†¦, how much to tax (how much to spend on CSR) and how should the money is used, which makes him a civil servant, not the employee of the shareholders anymore. For the consequences aspect, it is doubted that a single act of an executive can surely lead to a positive effect on the whole society. Such a reduction in price can really slow down the inflation (or just make the whole industry outputs decreases since other firms must lower their prices also to compete, and therefore, creates deficit for the economy). Spending too much on environmental practice beyond legislation may increase price and draw the company out of business because of competition. Free-market mechanism works based on the assumption that â€Å"It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest† (Adam Smith – The Wealth Of Nations, Book I, Chapter II, pp. 26-7, para. 12). Therefore, by deviating from self-interest, a firm who heavily does CSR may be forced out of the market. However, Friedman has left out the case of default on duty of agent i. e. what if the government cannot fulfill its responsibilities as correcting market failures and redistributing resources. If these duties are not carried out, it then can cause harm to the whole society. We can see there is a dilemma here. If the companies take those duties, its main duty will be less efficient and cannot stand in the market. On the other hand, if it does not care about these residual duties, the whole society may go down i. You read "Ethical Viewpoint" in category "Papers" e. the economic cake is shrinking. Let me summarize the reasons of the Friedmanian viewpoint on why company should not conduct CSR: 1. The binding relationship between owners and executives does not allow the executives to deviate the goal of the company from maximizing returns to owners 2. Doing CSR is considered as taxation on shareholders or employees, or customers, which, in a democratic world, is a job of government. 3. Under the free-market mechanism, extra expenses arose from CSR can finally draw the company out of business All in all, the Friedmanian article produces a very strict and straight point the responsibility of companies: to maximize the return of owners. It makes companies seem like soulless machines designed to do nothing than maximizing owners’ interest. However, the idea is derived from the position of an executive, who does not have real power on decision making. Moreover, this model will only work in such a condition where the government fulfills its responsibility and the model also assumes that there is only one company is doing CSR (if others do not also do CSR then unfair competition may happen). Discussion of the ethical point of view: In contrast to the viewpoint which is supported by the Friedman viewpoint presented above and the belief that CSR and profit go together that the only responsibility of companies is to maximize profit (in general) and not to do real CSR – companies may conduct CSR if it helps to increase profit i. . CSR as a tool for profit maximization, not the true goal -, there may be good reasons for firm to deviate from maximizing profit. Firstly, I will discuss on how the Friedman viewpoint is refuted and then the latter viewpoint. Counter Friedman viewpoint From the three main reasons of Friedman viewpoint above, there are counter reasons to refute them: 1. There is a contract that binds the executive respon sibility to the interest of the owners: Such a contract does not simply release the involved parties from others duties to other agents i. . reduce or cancel their duties to the rest of the society. This also implied a fact that executives have a special duty to the owners, which will be discussed later 2. The effective division of labour between companies and government (â€Å"taxation aspect† as an example): There are two reasons to refute this term. First, it is not the action of the executive that should be considered in this case but whether the owners would give up some of their benefits to promote other ends i. e. efute the notion that executives doing CSR as a taxation agent. Secondly, there are cases when the government cannot or not willing to do its duty, therefore, makes the whole model of ideal division of labour collapse. On the second reason, the author gives an example of Third World countries where governments are usually fail to fulfill their duties. However , this example is not so persuasive since in such countries, not only the governments default on their duties but other agents, especially customers, do not value the CSR. Therefore, if a company assumes to take the residuals value, it will lose its competitiveness and being drawn out of business. 3. The free-market competition does not allow firms to do CSR: it is reasoned that if customers, employers, shareholders, government value the CSR activities of the firm then CSR will not push a firm out of business but conversely, can even help the firm grow. The article also criticizes the Friedman viewpoint by refute the notion that â€Å"Firm has a special duty to its owners and it should takes preference over duties to others†. A special duty may be formed: when agents have a certain kind of relation to each other (the relation approach) or the universalistic approach that everyone has responsibilities to everyone else, but these general duties can be carried out more effectively if each agent is assigned special duties, which it does best, towards a limited group. For the relation approach, the firm and the owners should have at least one of three kinds of traditions: voluntarist tradition, the mutual benefit tradition or the communitarian tradition. It seems that there is a voluntary tradition existing between the firm and the owners but it does not mean that each agent can pursue their own goal at all costs since doing so, it may harm the voluntariness of other parties. Therefore, a voluntarist tradition also restricts the profit maximization. Based on the communitarian tradition, agents are partly defined by its relationships and various rights. Therefore, reducing the commitment to a group is the same as changing the agent’s personality and that special duties should only arise from relationships that are key to the agent’s identity. Miller has created some â€Å"criteria† for such relationships: (1) they belong together, (2) their association is neither transitory nor instrumental, (3) their community has distinctive characteristic, (4) there is loyalty in the sense of willingness to sacrifice personal gain to advance in the interests of the company. The relation between the firm and owners has failed heavily on criteria (2) and (4) and therefore, it fails within the communitarian framework. However, it is worth questioning here about the criteria. In such a fast changing world, especially the explosion of virtual world – the Internet, communities are formed, which can satisfy all of the above criteria (for example, the open source community, who develop computer programs and peer production together without cost to the public usages) but leave no or very little traits (identity) on the parties. As the grounds for mutual benefit traditions, it is true that there is a mutual benefit tradition between firm and owners. However, it involves far more parties, who can be customers, business partners, government†¦ Therefore, the firm’s responsibilities cannot be limited only to the owners. Nevertheless, if then, can and should the company try to satisfy all of its stakeholders. This leads us to the universalistic approach, whether the firm should have special duty towards a group (owners), which it can do most effectively. The universalistic approach is built on the assumption that agents who are assigned special duties can carry out the duties, which means that governments can effectively correct market failures and redistribute income. In practice, this is not always the case; and when the special duties cannot be done, they become the residual responsibilities of all. And it is worth notice here that division of duties is just a tool to promote the general duties. Therefore, when the government fails to perform its duty, the company should deviate from its special duty (maximize profit) and try to cover the residual duties. However, there are 2 problems with this reasoning. First of all, how can we measure if an agent has successfully performed its duty i. e. f the government has done a good job or not? Second, the residual responsibilities are rested on the entire society, not only the business. Therefore, only when other agents also try to participate in solving the responsibilities, are the general duties fulfilled. It helps to avoid the disadvantages to companies when they do CSR as mentioned in the 3rd reason of Friedman viewpoint. Only when the customers and other companies take part in the process, does the company not face the fact of being out of business due to unfair competition. In all of the relationship traditions mentioned above, the special duties of firm to owners has failed on some and partly fulfilled some. As a conclusion, the special duty of companies to owners is restricted by the duties to other agents and it may be changed (deviate from profit maximization) if necessary. CSR and profits do not always go together: It is shown, by practice’s investigation that CSR will not always lead to positive economic profit and there is a limit for CSR expending (to some point, the cost will be more than the benefit). However, there seems to be a lack of time variable here in the research. For example, if the company builds 10 or 100 hospital for the city, it does not lead to much different economic profit. However, if the company continues supporting 10 hospitals for 10 years then it can create a commitment between the company and the community, which then results in customers’ loyalty. The profit from CSR should not only be measured at a fixed moment but also spread through a period of time. All in all, the ethical point of view states that companies do not have special duty to only the owners but it must act in a way that can comprehend its other duties to different parties in the society and in order to do so, it may have to deviate from its ultimate goal i. e. maximizing profit. However, in contrast with the conditions for Friedman viewpoint, this assumption requires a condition where the government cannot fulfill its duty and other parties (competitors, customers, suppliers†¦) must act in the same manner as the company (deviate from their own special duties if needed). Conclusion: Both articles provide very interesting opinions on if firms should take on CSR or not. While Friedman viewpoint, which based heavily on the assumption of private-property democracy and free-market mechanism, states that firms must only focus on one ultimate responsibility: maximize owners’ return, the ethical viewpoint states that firms must also sacrifice its own self-interest i. e. profit in order to promote other ends for the society. I agree on the assumption that executives have a special duty against the owner and that efficient division of labour should be respected in normal cases. A company can never satisfy all the responsibilities it has towards all other parties equally or effectively. Only by dividing the general duties and assign them to subgroups, it makes sure they are done in the most effective way. Moreover, as an executive, if he or she tries to conduct CSR against the will of owners then the effect of such actions is neither material or long lasting since the owners, according to law, have the right to appoint and dismiss executives on their will. This assumption also implies that social responsibilities do not rest on firms but rather on individuals. It is not whether firms do CSR or not but if each of the owner wants to sacrifice their own interests for the common good. CSR, at its best understanding, involve the participation of the whole society i. e. companies do not stand alone is this field and so, should not be considered solely when debating on CSR issue. Other factors such as how the government does its duty and how customers, suppliers†¦ value the CSR have huge impact on the fact that should companies conduct CSR. Free-market mechanism is a very strong force that as long as our society depends on it, we must comfort it. Only when the customers’ demand for such CSR value increases, does the companies do CSR. If this is not the case, companies are killing themselves. Therefore, no matter how intensive firms are on CSR issue, it will be immaterial and short-sighted if by doing so, threat the firms out of business. The debating question here is not about firms conducting CSR but about how society value CSR, which will then guide the behaviours of firms. In conclusion, in current situation under the force of free-market mechanism, firms’ decisions are not the main forces that affect the CSR issues but how well other agents (especially government) fulfill their own duties and how society value CSR. The available solutions are that government must improve its performance (tighten the legislation, prevent corruption, protection for firms doing CSR†¦) and the society’s awareness of CSR value must be raised so that society will value CSR seriously (through education programs). Only then, can firms truly perform CSR without facing the dilemma of trade-off for economic profit, which is the main reason for firms to exist. All in all, for now, I agree to the statement of Milton Friedman that â€Å"responsibility is to conduct business in accordance with their (owners) desires, which generally will be to make as much money as possible while conforming to the basic rules of the society, both those embodied in law and those embodied in ethical custom†. The question is how such â€Å"basic rules† will drive the behaviours of companies. How to cite Ethical Viewpoint, Papers

Problem Set Week Solutions Essay Example

Problem Set Week Solutions Paper What is the implied price per share of this funding round? B. What will the value of the whole firm be after this investment (the post-money valuation)? Answer: a. After the funding round, the founders 8 million shares will represent ownership of the firm. To solve for the new total number of shares (TOTAL): 0. 80 TOTAL So TOTAL = shares, If the new total is 10 million shares, and the venture capitalist will end up with 20%, then the venture capitalist must buy 2 million shares. Given the investment of 51 million for 2 million shares, the implied price per share is $0. 0. B. After this investment, there will be 10 million shares outstanding, with a price of $0. 0 per share, so the post-money valuation is million. 2. Three years ago, you founded your own company. You invested $100,000 Of your money and received 5 million shares of Series A preferred stock. Since then, your company has been through three additional rounds Of financing. A. What is the pre-money valuation for the Series D funding round? B. What is the post-money valuation for the Series D funding round? C. Assuming that PU own only the Series A preferred stock (and that each share of all series of preferred stock is convertible into one share of common stock), what percentage f the firm do you own after the last funding round? A. Before the Series D funding round, there are 500,000 shares outstanding. Given a Series D funding price of $4. 00 per share, the pre-money valuation is (6, SOCIO) x SO,O/share = $26 million. H. After the funding round, there will be 500,000 shares outstanding, so the post-money valuation is x $4. 00,share c. You will own = 71. 4% of the firm after the last funding round. 3. Three years ago, you founded Outdoor Recreation, Inc. , a retailer specializing in the sale Of equipment and clothing for recreational activities such as camping, skiing, and hiking. So far, your company has gone through three funding rounds: Round Date Investor Shares Share Price (S) Series A Feb.. 2009 You 500,000 1. 00 Series B Gag. 2010 Angels Series C septet. 2011 Venture capital Currently, it is 2012 and you need to raise additional capital to expand your business. We will write a custom essay sample on Problem Set Week Solutions specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Problem Set Week Solutions specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Problem Set Week Solutions specifically for you FOR ONLY $16.38 $13.9/page Hire Writer You have decided to take your firm public through an PIP- You would like to issue an additional 6. 5 million new shares through this PIP. Assuming that your firm successfully completes its PIP, you forecast that 2012 net income Will be $7. 5 million. A. Your investment banker advises you that the prices of other cent Ipso have been set such that the PIE ratios based on 2012 forecasted earnings average 20. 0. Assuming that your PIP is set at a price that implies a similar multiple, what will your PIP price per share be? B. What percentage of the firm will you own after the PIP? . With a PIE ratio of 20. Xx, and 2012 earnings of $7. 5 million, the total value of the firm at the PIP should be: There are currently (500,000 ; 1,000, COO + = shares outstanding (before the PIP). At the PIP, the firm will issue an additional 6. 5 million shares, so there will be 10 million shares outstanding immediately after he PIP. With a total market value of $150 million, each share should be worth 5150/ 10 $ IS per share b. After the PIP, you will own 500,000 of the 10 million shares outstanding, or 5% of the firm. . Assume Voce, Inc. , has a current price of SO and will pay a 52 dividend in one year, and equity cost of capital is 15%. What price must you expect it to sell for right after paying the dividend in one year in order to justify its current price? We can solve the equation for the price Of the stock in one year given the current price of $50. 00, the $2 dividend, and the 15% cost of capital. At a current price of $50, we can expect Voce stock to sell for ASS. 50 immediately after the firm pays the dividend in one year.