Strategic Analysis Nike - 1619 Words

STRATEGIC MANAGEMENT ASSIGNMENT NIKE: Strategic Analysis SUBMITTED TO: AMIT SINHA SUBMITTED BY: Varun Bhatia 191181 FMG 19C Nike’s Global Business Strategy When first founded in 1962 under the name of Blue Ribbon Sports, the strategy was â€Å"to distribute low-cost, high-quality Japanese athletic shoes to American consumers in an attempt to break Germany’s domination of the domestic industry.† Today Nike offers athletic shoes at every marketable price point to a global market. Nike sustains its leading position through emphasizing quality products, constant innovation, and aggressive marketing. Nike sells its products in more than 180 countries under not only its namesake brand but brands such as Cole Haan, Converse, Hurley†¦show more content†¦The company focuses its marketing on celebrity endorsement, i.e. athletes in basketball, golf, soccer, and tennis. Lately, Nike has also began to sponsor big sporting events so as to create huge awareness and brand following. In 2008, Nike spent significant amount on advertising in the Beijing 2008 Olympics and the Football Championship. After the recent Tiger Woods scandal Nike plans on revisiting it celebrity endorsement strategy. It can be noted that the ‘swoosh logo’ is one of the most famous in the world due to these huge advertising efforts. Branding Strategy: Nike’s strategy in this front is to develop a premium brand associated with high quality product that satisfies customer needs. Nike’s brand is associated with an aggressive attitude portrayed by, â€Å"you don’t win silver, you lose gold,† which clearly suggests that winning is vital. The Nike customer associated the Nike brand with being the ‘American’ way: Being individual and aggressive like Michael Jordan and John McEnroe. Nike built its brand around sports, attitude and lifestyle. Nike backed this strategy with marketing campaigns like â€Å"Just do it† and with the companies front athletes like Michael Jordan and Tiger Woods. Selling Strategy: Nike’s strategy in early 2000s was to develop, flag ship stores, NikeTown shops in bigger cities, first national, and then abroad. Nike was the first company to establish flagship stores and it turned out to be a sensation. There are independentShow MoreRelatedStrategic Analysis of Nike1213 Words   |  5 PagesNike Case Analysis Nike is a worlds leading supplier of athletic shoes and apparel. The company was founded in 1964, when it was selling shoes to athletes. It grow rapidly through the 1970’s, and expanded its product lines to produce footwear in the categories of running, training, basketball, casual shoes, and kids shoes. As the bloom faded from the domestic athletic footwear market, the company entered active apparel market in 1978. Nike made a series of strategic decisions in 1970’s and earlyRead MoreNike Strategic Analysis3456 Words   |  14 PagesIntroduction Every box of Nike shoes states, engineered and built to the exact specifications for championship athletes around the world. Nike has become the measuring stick in the world of merchandising and endorsing. Top athletes around the world are often seen with a famous Nike swoosh on their shoes. It is not uncommon to see some form of Nike product everywhere you look. It all begins with Phil Knight, a competitive runner, who incorporated Blue Ribbon Sports in Oregon in 1968. BlueRead MoreStrategic Analysis of Nike8813 Words   |  36 Pages------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- STRATEGIC ANALYSIS OF ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- Read MoreStrategic Management Analysis of Nike2527 Words   |  11 PagesNIKE _______________ IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR STRATEGIC MANAGEMENT _______________ BY: Castronuevo, Jan Clark Meer, Regginald Young, Johnedel Quintero, Arvin Dioneda, Jefrick September 18, 2009 Section 1 - Executive Summary Back before the Swoosh logo and long before the days we were called Nike, there was Blue Ribbon Sports (BRS). It was the company Phil Knight, our founder, and legendary track coach Bill Bowerman created in 1964 to provide athletes with better shoes.Read MoreStrategic Analysis of Nike Inc12147 Words   |  49 Pagesp.8 Company AnalysisÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…p.9 Industry AnalysisÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…......p.24 Top Competitor AnalysisÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â….p.25 Other External ForcesÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â….p.26 Key OpportunityÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…..Â….Â…p.27 Key ThreatÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…p.27 Major and Subordinate ProblemsÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â….Â…Â…p.28 Strategic MatchÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…...p.29 Primary Strategic Match PositionÂ…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Â…Read MoreStrategic Management Analysis of Nike2519 Words   |  11 PagesNIKE _______________ IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR STRATEGIC MANAGEMENT _______________ BY: Castronuevo, Jan Clark Meer, Regginald Young, Johnedel Quintero, Arvin Dioneda, Jefrick September 18, 2009 Section 1 - Executive Summary Back before the Swoosh logo and long before the days we were called Nike, there was Blue Ribbon Sports (BRS). It was the company Phil Knight, our founder, and legendary track coach Bill Bowerman created in 1964 to provide athletes withRead MoreStrategic/Operational Planning (Nike) Essay696 Words   |  3 Pages Nike: Strategic Operational Planning Albert Dwayne Johnson Jr. University of Phoenix Nike: Strategic Operational Planning: When people think Nike, the first thing that comes to mind is a swoosh. The iconic symbol of the clothing brand can be seen as a way of life in sports clothing, stylish clothing and pop culture. Nike is a highly successful company, with all competitors, like Addidas or Converse, constantly working toward being on the same plane as Nike. TheRead MoreEnvironmental Scan Paper1535 Words   |  7 Pagesthe internal and external variables of a company, the business managers would have to use a SWOT analysis to develop awareness to different of the company. For example, the company could want to measure consumer behavorior, competitor behavior, and current trends in their marketplace. Environmental Scan and SWOT Analysis The information discovered from conducting an environmental scan and SWOT Analysis is vital to an organization’s success as it will help businesses gain an accurate assessment ofRead MoreNike, Mission, Vision, Values, Principles Essay704 Words   |  3 PagesRunning head: NIKE, Inc. Mission, Vision, Principles 1 NIKE, Inc. Mission, Vision, Principles Ameirah Aldahmani MSM631 – Strategic Management and Financial Reports Analysis Regis University Saturday, September 04, 2010 Abstract This paper is a qualitative and quantitative analysis of NIKE, Inc., done as six separate sections. The six sections of the project are external environment analysis, S.W.O.T analysis, executive interview, strategic and tactical plans and controls, structure,Read MoreEnvironmental Scan Essays952 Words   |  4 PagesEnvironmental Scan Nanette Guffey MGT/ 498 – Strategic Management Richard Haines September 17th, 2012 Environmental scanning is an organization’s strategic management and is actual important to the corporation. Environmental scanning is getting-together data for the external and the internal of the company.

Challenge of Taking Care Elderly Loved One Essay - 952 Words

My mother broke her hip and had to stay at a nursing home temporarily to rehabilitate. I knew then if she had to stay for a long term that would not be option for my mother. Nursing homes are okay, if family members are checking on your love one while they are there; because I believe they do not have adequate staff to accommodate all the patients in the nursing home. As a result the challenges of taking care of my mother were her refusal to help, effects to health of caretaker, and family conflicts. My mother lived in her home for 50 years. Getting my mother to leave her home and all that was familiar to her was not easy task. She did not feel like she had to leave because she thought she could take care of herself. Some of the†¦show more content†¦I also had offered to set up her bill online and paid them monthly and she refused. For example when she came to live with me finally anything that came on the television especially the religious show that promised her t hat she would be heal and all she had to do is drink this healing water, I would just tell her I did because she would continue to ask me if I did because me explaining that she did not need send her money would become confrontation. My next challenge with my mother was that she did not accept that she had any medical problems and that she need no assistants in her daily living, even though she had start taking a lot falls before she actually fractured her hip and that was one of my biggest concern, because of her being elderly and possibility of not recovering properly. Later she had a stroke, and started having seizures, which brought on the early dementia. So with having dementia it was hard convincing her that she could live alone and take care of herself â€Å"It is hardly surprising that caregivers often develop burnout as well as physical and psychological problems that may compromise or even preclude their caregiving efforts.† (Tepper, L. M., Cassidy, T. M. 2004, p. 197). Taking care of my mother was not easy she was very difficult to deal with as a matter of fact the relationship had change because of my role I felt like I was the mother and she was the child. My mother and I would argue daily and we never use too weShow MoreRelatedSpeak Your Mind : Taking Care While Caretaking Essay1503 Words   |  7 PagesSpeak Your Mind: Taking Care While Caretaking This paper is done with the use of the Speak Your Mind video titled â€Å"Taking Care While Caretaking,† Phelps (2013, November 13) season four. Throughout the paper there will be examples and topics about taking care of loved ones while they deal with mental and physical health issues. There will be references from the sources Experiencing the Lifespan, myageingparent.com, and Care of the Elderly. Taking Care While Caretaking The video from Speak Your MindRead MorePhysical Needs For The Elderly1569 Words   |  7 Pagesperiod of life. Many elderly people have specific physical needs where adaptations to their home are necessary or where they need specific equipment for self care. Old age also brings new emotional challenges for the elderly person when the family can be useful in helping to meet the persons mental health needs. Senior citizens experience needs in their social life; they also experience the need for activities with other seniors. Health needs also negatively affect the elderly and cause multiple physicalRead MoreThe Biology Of Aging And Aging942 Words   |  4 Pagesthroughtout society as a whole. It looks at how the youth are treated and how the elderly are treated. I am very passionate about section 6.6, Problems of the Elderly, because I think we need to focus on giving support to the elderly. I think it is especially important as the dependency ratio is increasing and as the amount o f elderly increase the amount of services they need will also increase. The eldderly face many challenges as their body gets tired and old. These issues are problems with work, retirementRead MoreEssay on Late Adulthood and Depression1558 Words   |  7 Pageslived their life. Now, too many elderly people are not satisfied and look at this stage as depressing. Most fear death of either a loved one or for themselves. This topic is interesting to me because elderly people should make the best of their last stage of life. This topic discusses about getting older, the life changes that they go through physically, emotionally, and mentally. We should know more about it so that we can help our family and friends get through one of the best, yet toughest partRead MoreAnalysis Of Tuesdays With Morrie By Mitch Albom1092 Words   |  5 Pagesimportant step, growing-up or growing older and ageism are theories about older individuals. Ageism includes preconceptions that elderly are categorized for their age and perceived as weak, and incapable of performing tasks and needy of others (Quadagno, 2014). Another view about elderly individuals is the way they are looked down on by the younger society, i.e. elderly are not as intelligent as their younger competitive working force. People fear what they do not know and do not understand. AgeRead MoreEssay on Alzheimers Disease813 Words   |  4 PagesThe need to educate people on Alzheimer’s Disease for family members or friends in-case a loved one is diagnosed. Introduction: A. What would one do if their family member or friend knew of someone who was diagnosed with Alzheimer’s Disease? What would they do to help or take care of this family member? Well, I work in a nursing home with the elderly with this disease every day. It can be a challenge for the family member who may not understand, but with a little education on Alzheimer’s DiseaseRead MoreThe Ethical Issues Of Physician Assisted Suicide Essay1736 Words   |  7 Pagesa health care worker provides a patient with tools and/or medication that will help the patient kill him or herself, without the direct intervention of the care provider. This paper will define key terms for my argument against Physician Assisted Death, and why I believe it’s wrong, where I will provide a brief background of the situation. Next, I will provide a more a more thorough explanation of these important positions I provided. In conclusion, I would provide some ideas for taking action andRead More Case Analysis : Homecare Home Care Organization1704 Words   |  7 Pagesof a home-based care for different workers who play an essential role in the promotion of healthy lifestyles among this population. It is consequently essential to determine that, the adult population needs to be provided with non-medical care aimed at improving their levels of physical activity and dietary changes in order to improve their health. In this case, Trident Homecare provider’s aims to develop an effective training program that is directed towards educating different care provider’s withRead MoreAnalysis Of The Book Desiree s Baby 849 Words   |  4 Pagesworld of men. Written by two different authors, the stories collide with similarities. Such as betrayals of their husbands, the relocation of themselves and their loved ones, and going against the status quo in the â€Å"role† of being the wife. Mrs. Marroner and Desiree have to face the idea of change and leave their homes. Desiree by taking her baby and heading out to the swamps to never be heard from again. â€Å"She disappeared among the reeds and willows that grew thick along the banks of the deep, sluggishRead More Alzheimers Disease, Nursing Essay1477 Words   |  6 Pages Nursing Care and Understanding of Alzheimer Disease Introduction nbsp;nbsp;nbsp;nbsp;nbsp;Loss of memory, forgetfulness, personal change, even death, are common related disorders caused by a disease called Dementia or better known to most people as Alzheimer’s disease. This disease is the fourth leading cause of death in the United States in persons 65 and older. Alzheimer’s disease is, named for the German neurologist Alois Alzheimer, who first recognized the disease in 1907; Alzheimer’s

Conflict in Organization Free Essays

CONFLICT MANAGEMENT Conflict management refers on the way how we approach the other party in a conflict situation. There are main structural approaches such as emphasizing superordinate goals, reducing differentiation, improving communication and understanding, reducing task independence, increasing resources, and clarifying rules and procedures. Emphasizing Supeordinate Goals The first way to resolve the conflict is to seek and find the common goals. We will write a custom essay sample on Conflict in Organization or any similar topic only for you Order Now The emphasizing superordinate goals are common objectives held by conflicting parties that are more important than the department or individual goals on which the conflict is based. If the commitments to corporate wide goals increase, the employees will pay less attention to competing individual or departmental-level goals. So, it reduces their perceived conflict with co-workers. Besides that, they also can reduce the problem of incompatibility and differentiation by establishing a common frame of reference. For example, the most effective executive teams frame their decision as superordinate goals that arise above each executive’s departmental or divisional goals. Reducing Differentiation Besides that, another way for resolving conflict is to remove the sources of different values and beliefs that produce the conflict in the first place. When the employees think they have same backgrounds or experience with other workers, they will be more motivated to coordinate their activities and resolve the conflict. For example, move the employees to different jobs so that they come to depend on each others. Improving Communication and Understanding The third way to minimize the conflict involves by giving the conflict parties more opportunities to communicate and understand each other. By aving the good communication, the employees can understand and appreciate each other’s views and opinions. It relates to contact hypothesis which is the more meaningful interaction we have with someone, the less we rely on stereotypes to understand that person. There are two warnings. First, apply communication or understanding after reducing differentiation. For example, when we intera ct with people who are quite different and have conflict with us, we tend to select information that reinforces that view. So, communication and understanding interventions are most effective when differentiation is sufficiently low. Second, people in collectivist and high power distance cultures are less comfortable with the practice of resolving differences through open communication. People in Confucian cultures prefer an avoidance conflict management style since it is consistent with face saving and harmony. Furthermore, direct communication is high-risk because it threatens the harmony easily. Reducing Interdependence Another way to minimize dysfunctional conflict may involve reducing the level of interdependence between the parties. It can occur by dividing the shared sources so that each party has exclusive use part of it in different times. Sequentially, interdependence task may be combined so that they can form a pooled or shared interdependence. Furthermore, buffers also can help to reduce the interdependence level among people. It includes resources such as more inventories could be added between people who perform sequential tasks. The organizations use human buffers as people who serve as intermediaries between interdependent people or work units that do not get along through direct interaction. Increasing Resources The dysfunctional conflict also can be reduced by increasing the amount of resource available. It also refers by duplicating the resources so that can minimize the conflict. Corporate decision makers might dismiss this solution quickly because of the costs involved. Nevertheless, these costs with the costs of dysfunctional conflict that arise out of resource scarcity must be compared carefully. Clarifying Rules and Procedures Conflicts that arise from unclear and ambiguous can be resolved through establishing rules and procedures. This strategy has been applied by Armstrong World Industries, Inc. , when consultants and information system employees clashed while working together on development of a client-server network. Moreover, the rules establish the changes of interdependence. For example, employee’s work hours or a supplier’s order fulfillment. RESOLVING CONFLICT THROUGH NEGOTIATION Negotiation is the process whereby two or more conflicting parties attempt to resolve their divergent goals by redefining the terms of their interdependence. In the other meaning, people negotiate when discussion can meet satisfaction and resolution in their exchange of goods and services. For example, the employees negotiate with supervisors over next month’s work assignment. Bargaining Zone Model of Negotiations Bargaining zone means the process of negotiation moves each party along a continuum an area of potential overlap. It can be applied to situations in which both sides potentially gain from the negotiations. There are three main points of this model. First, the initial-offer point is the team’s opening offer to the other party. Second, the target point is the team’s realistic goal or expectation for a final agreement. Third, the resistance point is the point beyond which the team will not make further concessions. Negotiation begins with describing the initial-offer point for each item on the plan. Besides that, in the win-lose situations, neither the target nor resistance point is revealed to the other party. If the parties have a win-win situation, the objective is to find a creative solution that keeps both parties close to their initial-offer points. Situational Influences on Negotiations Both the situation and the behaviors of negotiators are the effectiveness of negotiating. There are four important situational factors such as location, physical setting, time and audience. First, location is easier to negotiate as we are common with the negotiating environment and are able to maintain comfortable routines. It is also no need to depend on others for resources during negotiation. Second, the physical distance between the parties and formality of the setting can influence their orientation with each other. Sometimes, people who sit face-to-face tend to develop a win-lose orientation toward the situation. Third, the longer time in negotiations can lead to stronger commitment in reaching a solution. For example, the more time people put in negotiation, the stronger the tendency to make unwarranted concessions. So that, the negotiation is going to be succeed. Time deadlines are a liability in negotiation which it is useful to motivate people to complete it. Lastly, most negotiators have the audiences. They can be anyone that is interested in the negotiation outcomes. For examples are executives, other team members, or general public. The negotiators tend to be more competitive and less willing to make concessions when the audience has the direct observation towards the proceedings. Negotiator Skills The negotiator skills are important in resolving conflict arise. Four of most important skills are setting goals, gathering information, communicating effectively, and making concessions. Firstly, negotiators should prepare for the negotiation and set goals. They also should think carefully through their initial-offer, target and resistance points. If the negotiation fails, they need to consider alternative strategies. Besides that, they need to check their underlying assumptions as well as goods and values. Secondly, in order to gather the information, negotiators should spend more time listening to the other party and asking the details. Thirdly, effective negotiators communicate in a way to maintain strong relationships between parties. They also will avoid irritating statements. Furthermore, they are masters of persuasion so that it is accepted by others. Lastly, making concessions are important because they enable the parties to move toward the area of potential agreement, symbolize each party’s motivation to bargain in good faith, and tell others about the importance of negotiating items. THIRD-PARTY CONFLICT RESOLUTION Third-party conflict resolution is any attempt by a relatively neutral person to help the parties resolve their differences. Procedural fairness is important when the third party makes a binding decision to resolve the dispute. There are three types of third-party resolution activities, which are arbitration, inquisition, and mediation. Arbitration is the final stage of grievances by unionized employees, and is becoming more common in nonunion conflicts. The arbitrators have high control over the final decision but low control over process. They will decide the outcome of a dispute between two parties. Besides that, executives engage in this strategy by following previous agreed-on-rules of due process, making a binding decision and listening to arguments from the dispute parties. Inquisitors control all discussion about the conflict and choose the form of conflict resolution. They have high decision control and high process control. They generally the conflict resolution process and enforce a resolution that they perceive to be the most appropriate. There are important ways to limit the collaborative problem solving process. First, they generally operate on assumptions of the problem and the relevant information in solving the problem. Second, they limit the information that they gather to the information they specifically request from disputants. As a result, inquisitors make quick decisions to resolve conflicts. Mediators have high control over the intervention process. Their main purpose is to manage the process and context of interaction between the dispute parties. However, the parties make the final decision about how to resolve their differences. So, mediators have little or no control over the conflict resolution decision. There are several things mediators need to do to increase the likelihood of successful mediation such as suggest alternatives, prepare to invest time and effort, and insist on a detailed action plan. On the other hand, the mediation is hard work and time consuming. CHOOSING THE BEST THIRD-PARTY INTERVENTION STRATEGY Research suggests that people in positions of authority usually adopt an inquisitional approach which is they dominate the intervention process as making a binding decision. The inquisition approach is preferred by manager because it is consistent with the decision-oriented nature of managerial jobs, tends to resolve the disputes efficiently, and gives them control over the conflict process and outcome. Conversely, this approach is usually least effective in organizational settings. The problem is leaders who take in an inquisitional role be likely to collect the limited information about the problem. Besides that, the employees often view inquisitional procedures and outcomes as unfair. The most appropriate of third-party resolution in organizations depends on the situation such as the type of disputes, the culture values and the relationship between the managers and employees. However in general speaking, the mediation approach is the best because it gives employees more responsibility for resolving their own disputes. It also offers the highest level of employee satisfaction with the conflict process and outcome. References http://www. wright. edu/~scott. williams/LeaderLetter/mediation. htm How to cite Conflict in Organization, Papers

Business Relationship Corporations Act 2001

Question: Describe about the Business Relationship for Corporations Act 2001. Answer: Issue The issue is to determine the type of business relationship that exists between Alfred, Beatrice and Coco. Rule The general rule is that a partnership is a relationship that exists between two or more parties who carry on a common business together with the aim of making profit.[1] The number of these partners should not exceed to more than 115. [2] The term carry on implies that there must be a series of events that amount to a business.[3] In partnership the parties must have the intention and goal of making profit out of the venture.[4] Registration of a business company will imply that the company will have a separate legal personality from the company which is capable of suing and being sued.[5] The liability of the company becomes limited to the value of the shares that have been contributed by each partner. Application Alfred, Beatrice and Coco are operating the business together and therefore they can be said to have satisfied the meaning of carrying on business together according to the Partnership Act 1958.A partnership must have an agreement whether oral or written and in this case there is an agreement between the parties that Coco will be consulted in all major decisions of the business. However their relationship defeats the essence of making profit from the business because Coco is repaid through the sales which may hinder the profit making ability of the business. When Cocos money is re-paid through the profit the relationship of the parties becomes that of a company because the liability of the business becomes limited to the extent of the contribution by each individual. This implies that the business is a separate legal personality and the liability will not extend to the personal property of the members. Conclusion It is plausible conclusion and recommendation to Alfred, Beatrice and Coco that they should incorporate their business venture as opposed to a partnership business where liability will extend to their personal property. The company will have a perpetual succession unlike the a partnership where the business will end if the parties cease operation. Reference Corporations Act 2001 Cribb v Korn - [1911] HCA 9 - 12 CLR 205 Partnership Act 1958 Salomon v Salomon Co Ltd [1897] Smith v Anderson (1880) 15 Ch D 247

Twelfth Knight Essays - Cross-dressing In Literature, Twelfth Night

Twelfth Knight In William Shakespeare's Twelfth Night, Or What You Will many relationships are forged or sabotaged for and by the protagonists, and as a result these relationships are made comical. The use of disguise causes deception and misunderstanding which leads to love where it is not meant to be. Foolery leads the characters into inescapable traps, which causes chaos with their emotions, and finally pure physical attraction and not true love lead some characters into falsely believing that they were in love. Therefore relationships were twisted and contorted so often that comedy was bound to result. Throughout Twelfth Night deception caused confusion between many characters, but the one character who remain in the center of this confusion was Viola. The deception was caused because of her outward appearance. She was disguised as a man in order to get closer to Orsino. The confusion begins when Viola is sent to woo Orsino's love Olivia. She in turn falls in love with Viola's counterpart Cesario. Olivia's love is revealed when she sends her servant Malvolio to return a ring which Viola never gave to her. She says, Run after that same peevish messenger, The County's man. He left this ring behind him? I do I know not what, and fear to find Mine eye to great a flatterer for my mind. Fate show thy force. (actI,sc.v,310-315) This shows her love for Cesario and how she secretly lets her know. When Viola realizes what has happened she immediately realizes the love triangle which has occurred. This is apparent when she says Fortune forbid my outside have not charmed her!?What thriftless s ighs poor Olivia breathe! O time, thou must untangle this, not I. It is to hard a not for me t' untie. (act II, sc.iii, 20-40) Another instance when viola's disguise is believed and therefore causes a confusion is when she is mistaken for her brother Sebastian. Antonio who is looking after Sebastian, and when Viola got into a fight with Andrew and Toby, Antonio came to the rescue. He is arrested and begs Viola to explain to the officers that he has been protecting him all along. When Viola claims that she has never seen him. He says Will you deny me nowDo not tempt my misery, Lest that it make me so unsound a man As to upbraid you with those kindnesses That I have done for you. (actIII, sc.iv, ln.365) Viola's disguise is so believable that a man who has spent an extended period of time with her brother mistakes her for him. Immense confusion and severe consequences result from this deception. Therefore the use of disguise is a main factor in the creation of comedy. The time period in which Twelfth Night was set, foolery was commonly used for multiple tasks. Some used foolery for pleasure and entertainment, while others used it as a tool to get what they wanted. The use of foolery occurred throughout the play, many times manipulating another person. When Maria becomes angered at Malvolio she decides to use foolery as a tactic to get even. She writes a false letter from her lady Olivia confessing her love to Malvolio. The letter suggests preposterous things for him to do to win her love. Her foolery is so believable that he believes every word of it, as seen in this quote I do not now fool myself, to let imagination jade me; for every reason excites to this, that my lady loves me? Jove, I thank thee! I will smile. I will do everything that thou wilt have me. (actII,sc.iv,168-180) As a result of this letter Malvolio is tricked into doing silly and wild things which causes Olivia to think that he is mad. Therefore foolery proved to be successful, i n the sense that she got her revenge. Malvolio is involved in another case of foolery, but this time it is with the fool. After Malvolio is imprisoned for his insane acts, he begs to see the light of day. Toby belch and the Fool scheme a plan for Malvolio. In this methodical plan the Fool is to dress up as a priest and talk to Malvolio. Throughout their entire conversation Malvolio tries to convince the Fool that he

Free Essays on Functionalist vrs Marxist

Compare and contrast the Functionalist and Marxist explanations of the role of education in modern society? The functionalists and the Marxists both believe that the education system benefits everyone, but both have different views on society. The Marxist views of the education system are that there are conflicts because there is an inequality between the working class and the higher classes. They believe that there are two different classes which education produces, and that is the working class and the ruling class. The people who don't achieve good grades in school and who aren't very bright, will be known in society as the working class, and so won't have very good status jobs in society, and the people that do brilliantly in school and who are very intelligent are the ones who get good jobs and important jobs in society, so they are seen as the ruling class, which is above the working class. This theory that the Marxists has, is similar to the theory that the functionalists have, and that is that the education system could also be known as a role allocation. This is where a persons jo b is allocated to them through there grades from school, so if the person does well, then they will get a more important job, however if a person does not do that well, then the person will have a low status job in society. However, the functionalist's view of society is that it is meritocratic, which means that those who do well will achieve more in life and will receive rewards for their hard work, which fits in with the role allocation idea of those who do well in school, will end up having the better jobs in the adult world, and that the role of education benefits everyone equally. The Marxists believe that the role of education benefits the ruling class only, and that is where there is a difference between the two theorists. A functionalist named Durkheim believes that the education system introduces the importance of social solidarity in people... Free Essays on Functionalist vrs Marxist Free Essays on Functionalist vrs Marxist Compare and contrast the Functionalist and Marxist explanations of the role of education in modern society? The functionalists and the Marxists both believe that the education system benefits everyone, but both have different views on society. The Marxist views of the education system are that there are conflicts because there is an inequality between the working class and the higher classes. They believe that there are two different classes which education produces, and that is the working class and the ruling class. The people who don't achieve good grades in school and who aren't very bright, will be known in society as the working class, and so won't have very good status jobs in society, and the people that do brilliantly in school and who are very intelligent are the ones who get good jobs and important jobs in society, so they are seen as the ruling class, which is above the working class. This theory that the Marxists has, is similar to the theory that the functionalists have, and that is that the education system could also be known as a role allocation. This is where a persons jo b is allocated to them through there grades from school, so if the person does well, then they will get a more important job, however if a person does not do that well, then the person will have a low status job in society. However, the functionalist's view of society is that it is meritocratic, which means that those who do well will achieve more in life and will receive rewards for their hard work, which fits in with the role allocation idea of those who do well in school, will end up having the better jobs in the adult world, and that the role of education benefits everyone equally. The Marxists believe that the role of education benefits the ruling class only, and that is where there is a difference between the two theorists. A functionalist named Durkheim believes that the education system introduces the importance of social solidarity in people...

Discussion Board - Evaluating Suppliers and Vendors Assignment

Discussion Board - Evaluating Suppliers and Vendors - Assignment Example This evaluation should include an in-depth research on the activities that the vendors and suppliers engage in. The evaluation should also focus on the value added that the various suppliers, and the vendors are likely to bring to the company. Secondly, it is important to decide on the performance indicators. It is important to define the roles and the characteristics as well as the behavior that the vendors and suppliers should show or exhibit in the course of the business transactions. This will create a clear picture of the manager’s expectations to the vendors and suppliers. The performance criteria and the measurement of performance are subject to the performance indicators, and all vendors and suppliers need to be aware of it. It is after setting the performance indicators that the manager should come up with the duties of individuals in the company in relation to the suppliers and the vendors. When dealing with the suppliers, it is necessary that the teams or department s that deal with the suppliers directly are able to give their honest opinions about the suppliers and vendors. It is useful that they help with the ratings when it comes to the way the suppliers and the vendors are engaging in business. This will give the manager the first hand information about the suppliers and the vendors. Then it is necessary to create a good rapport with the vendors and the suppliers. It is at this point that one should treat the suppliers and the vendors as part of the larger management team. It is necessary that proper communication and communication channels are put in place by the manager to allow for free flow of information (Vendor Management, 2005). The manager needs to address the issues affecting the vendors and suppliers in an open and honest manner at all the times to maintain the good relationship. Finally, it is important to get rid of underproductive vendors and suppliers to avoid wastage for the

Communication with Families Essay Example | Topics and Well Written Essays - 500 words - 2

Communication with Families - Essay Example Working parents, especially fathers, or those who live at distant locations are â€Å"less involved† in their children’s education â€Å"unless the school organizes opportunities†¦in various times and in various places† (Epstein, 2001, p. 407). C. The teacher said that the document contained some information that came â€Å"directly from our state education office†. This technical information was less likely to be understood by less educated parents. Secondly, the teacher said that the â€Å"web site will also allow us to communicate by e-mail†, but he did not consider the fact that many parents would not be having any computers at home or e-mail addresses through which they could communicate with school authorities. D. The information that came directly from the state education office would have affected less educated parents since they might not have understood such formal phrases. Secondly, those parents who did not know how to use internet or did not have computers at home got no help in getting to know how to use the website. Mendoza (2003) asserts that â€Å"when professionals use technical terms and jargon without sufficient explanation, parents may not understand key information about their children†. E. The teacher could have shown greater sensitivity to the parents by explaining the instructions of state education office in easier words so that every parent could have understood it. Mendoza (2003) states that the difficult reading level of the written materials makes them â€Å"potentially inaccessible to parents with lower literacy skills or to second-language English speakers†. Secondly, the teacher should have considered how those parents were going to communicate who did not have computers at their homes. F. A parent plays a vital role in his child’s education. He has to stay well informed about his timetable. He

THE STOCK MARKET GAME Assignment Example | Topics and Well Written Essays - 750 words

THE STOCK MARKET GAME - Assignment Example With the steady growth of the American economy (Hafer and Scott 07), Kraft foods will continue its rise to be one of the greatest food companies the world has known. I have owned this stock several times before and it’s tried and tested record gives me no reason to leave it since it is an industry leader. Its competitors are either short of ideas or just a level below it since they don’t have a complete package that can pose a serious challenge to Kraft foods. Currently there seems to be nothing hindering the success of the company from the inside. The company has survived the high competition from the many upcoming companies in the past decade and remained on top of the industry just as it joined years back. Unilever is a globally recognized company with over 400 brands under its belt (â€Å"Introduction to Unilever†1). All the 400 brands focus on the good health of the company’s customers and their well being as well. With such a wide range of products, Unilever touches the lives of people in several different ways. Their products range from nutritious foods to generous ice creams, soaps, and household products. They produce brands that lead the markets like Omo, Knorr, Axe, Lipton and Dove. They also produce locally trusted names like blue band, Suave and Pureit. Unilever’s products are consumed worldwide in over 190 countries. Its products are consumed by two billion people every single day. In the recent year, they recorded a growth in sales of 6.5%. Emerging markets contributed to almost 55% of their business. The company has a stable expansion plan as shown with its rapid growth and acquisitions like Alberto Culver which was their biggest in a decade increased their turnover by more than 1% in the past year. Unilever is a market leader and because of the high standards that it maintains in the market,

History of the Public Smoking Ban

History of the Public Smoking Ban The emergence of public smoking ban can be backdated to 1590 when Pope Urban VII threatened to excommunicate anyone who took any form of tobacco inside a church. Afterwards other European cities enacted smoking bans. Modern, countrywide tobacco ban was imposed in Germany during the rein of Adolf Hitler. In the sunset years of the 20th century, second-hand health related risks of tobacco smoking became more publicized. Coupled with restrictions on cigarette advertising and fear of revenue losses, the tobacco industry embarked on campaigns aimed at â€Å"tolerance and courtesy† to reduce the heightened tension between smoker and non-smokers, whilst eluding issues related smoking ban. Over the years, laws implementing bans on outdoor smoking have been enacted by many countries in various ways. The Irish government became the first country to do so. In one form or another, is also has been enacted in countries such as USA, Norway, Netherlands, Romania, Sweden, South Africa, United Kingdom and Australia. The World Health Organization (1997) survey on tobacco control policies reported that a vast majority of countries numbering to 134 now have some form of restriction on smoking in public places. The underlying explanations cited for smoking bans in public places has often been safeguarding of the society from the its detrimental effects, which include increased risks of cancer, heart disease, and other acute and chronic diseases. The implementers have often put forward scientific evidence showing that tobacco smoking is harmful to the smokers and to those inhaling second-hand smoke. Air quality has often been advocated by the public one of the advantages of smoking ban. For this reason, the basis for smoking ban rationale relates to normative economics. Normative economics entails value judgements about â€Å"what the economy ought to be like† or what particular policy measures ought to be undertaken to achieve a desirable objective. Since normative economics looks into the appropriateness of particular aspects of the economy, it advocates for economic policies. In this case, the value desirable goal aims at reducing health care costs and improve productivity and create job opportunities, reduced risk of fire, cleanliness in places where food are handled, potential cutback on energy (decreased ventilation needs), reduced quantities of litter, make it easier for smokers to quit, and to promote healthier environments. Although restrictions attributed to smoking ban are primarily intended to reduce exposure to second hand smoke, it is most likely that there will be a reduction in smokers opportunity to indulge. This may lead to significant reductions in cigarettes smoked and consequently the â€Å"cost of smoking† Chaloupka and Warner (2000). In particular will be the smokers working or mostly spend most of the time within the Central Business District (CBD) of Nairobi where the smoking ban law is stringent as compared to the suburban. In Ireland, for example, it is said that approximately 7,000 smokers are thought to have quit in the first six months after imposition. What does this imply? First of all it is essential to acknowledge that cigarettes as products have inelastic demand. Tobacco is the raw product for cigarettes and contains nicotine an addictive substance that has no close substitutes. According to Curbing the Epidemic (The World Bank, 1999), elasticity of cigarette ranges on an average of (-0.4) though it varies from region to region, and from study to study. With this simple observation, it therefore implies that the total quantities of cigarettes consumed by each individual ‘continuing smoker will decline, ceteris paribas. This means, that there was an inward shift in demand for cigarettes after the implementation of the ban. Figure 2 demonstrates this implication of shift in demand. Before the enactment of the smoking ban, the consumers demand curve was D1 and the amount spent totaled to Kshs. 100.00 as depicted by the shaded area (OABF). After the enactment, the demand shifted to D2, hence the consumer total expenditure was Kshs. 50.00 as shown by the area (OACE). Economists have often referred to this phenomenon as non-price measures to reduce demand on cigarette. The imposition of smoking ban in the proximity of Kenyas county councils and municipalities includes all workplaces (private and public), businesses and public places (indoor and outdoor) with the exception of restaurants which have been obliged to designate special smoking zones. In the Nairobi for example, there are only three spots in the Central Business District (CBD) allocated smoking zones which do not sufficiently address the needs of all smokers. This ban comes in at the time when the tobacco manufacturing industry BAT Kenya Ltd. has been pushed to a threshold level as a result of tough regulation on advertisement campaign. What will the consumer do with the rest of the money saved? Since the consumer will be saving Kshs. 50.00, daily it will sum up to Kshs. 1,500.00 per month. This would definitely affect the cigarette position on the consumers budget line, assuming the income remains the same. In the Neoclassical economics, the goal of consumer behavior is utility maximization (consistent with maximization of net benefits). This means that the marginal utility of the last Shilling spent on the last cigarette will be equal to the marginal utility of the last Shilling spent on any ‘other good (equimargin principle). To get a better picture of this situation, let assume the following: Before smoking ban After smoking ban Income Kshs.30,000Kshs.30,000 Expenditure on cigarettesKshs. 3,000Kshs. 1,500 Amount spent on others Kshs.27,000Kshs.28,500 Table 1: Cigarette smokers budget before and after ban Figure 2 shows the smokers (consumer) budget line. Since the consumer is constrained by it the budget line, the new law will results into an outward movement along the budget line of the expenditure dedicated to smoking relative to what is spent on others. The implication is that the extra money derived from the reduction of smoking will be substituted and spent on others. This may at times result into some level of decrease in demand for inferior goods. Maybe the smoker will buy a gift for his wife or girlfriend, some items for himself, indulge in other activities such as beer drinking to divert from the affects of the smoking ban. In an interesting scenario would be where the consumer will be end up spending on expensive cigarettes since the consumer may want to maximize on utility. The smoking ban carries along with it requirements that the hospitality sector (hotels, casinos, bars and restaurants) has to designate regions for smokers and non-smokers. In addition it would be a not be a surprise to observe â€Å"no-smoking† and â€Å"smoking† related signs in these places. This will have a twofold effect which can also be viewed from the point of opportunity cost of smoking on businesses (due to the fact that the new decree is at times not adhered and may be up to the business to decide despite them knowing of the legal risks involved). One will be on the businesses that will follow the decree. These businesses may benefit from the fact that they may not lose on some non-smoking clientele base, but lose on some smokers who may avoid these places due to the pinching effect of the ban. The second would be businesses that would not completely adhere to the decree and may loose on clientele that may not appreciate the fact that they are not being ackno wledged, but gain from smokers who may feel that they are not being restricted. In general, economic loss will be experience in varying businesses in the hospitality sector. These include: The imposing of smoking ban will reduce pollution causing activities since the polluters, that is, smokers will be affected. This will result into increased levels of purified or cleanliness of the air. Unfortunately this does not come free. In economics any improvement linked to the environment has both benefits and costs to the society. There exists a trade-off between how much improvement is gained and how much money is used. This can be demonstrated by bringing together marginal benefits and marginal costs into one figure to provide some indication of the exchange and determine how socially efficient is the environmental improvement. What economists term as the socially efficient quantity of pollution† means that social benefits will be maximized when pollution is reduced to a certain point. Unfortunately, too much pollution reduction is too costly for us to undertake. In the case of smoking ban in Kenya, net social benefits can be determined by the difference between total benefit (TB) and total cost (TC): Why? For example in the demand and supply curve, consumer surplus is can be determined by the area above the market price (equilibrium) and below the demand curve, which is similar to our case above. The implications would be that there will be a positive social benefit as results of smoking ban and clean air due to movement from MC1 to MC2 This law will entail some long term implication in that it will prevent the youth from smoking at an early stage, as there will be lesser number of people exposed to the perils of smoking. Hence this will greatly benefit the society in terms of reduced levels of current and mostly essentially, the future generation. Furthermore, restrictions on smoking may change the perceived norms related to smoking by changing attitudes concerning the social acceptability of smoking (U.S. Department of Health and Human Services, 1994). Evidence has shown that hospital admissions related to heart attacks the cases of dropped due to enactment of the ban. For example, after the smoking ban was imposed 2003 in Pueblo, Colorado USA heart attacked cases dropped by 27% while neighbouring towns where the ban was not introduced showed no change. Also a survey conducted in Scotland showed that smoking ban has some positive impact on health. The research revealed that massive health gain as a result of smoking ban. So not only will individual Kenyan smokers benefit in terms of better health (since some would quit while the continuing smokers will reduce indulging) but also potential second hand smokers (such as bar workers and those who spend considerable time with the smokers). Net social benefit (NB) = Total Benefit (TB) Total Cost (TC) NB = TB TC In economics, â€Å"net benefits are maximized where marginal benefit equals marginal cost (MB = MC)†. The same applies for socially efficient point that occurs where MB = MC and the point where they interact (MB and MC), maximum net social benefits is realized. This is demonstrated in figure 3 where as a result of the imposition of smoking ban MC1 shifts to MC2, causing the equilibrium to change from E1 to E2. Since smoking ban results to E2, then net social benefits is computed as: NSB = A + B + C C NSB = A + B Loss of revenue Loss of actual employment A decline in wages and salary payments Besides the cigarette manufacturers, the impact of a ban is expected to trickle down the industry chain. This includes the tobacco farmers. In Kenya, there are 300,000 farmers involved in growing of tobacco leaves, which means that there would likely be a reduction in revenue on their side. This will result into some of them halting the growing the tobacco leaves and looking for other substitution to their farming. The fear of being phased out is another determining factor on the future volumes (tobacco leaves) produced unless the tobacco industries takes alternative measures to increase it foreign exports and counter local market situation, hence ensure no decline in local quantities of tobacco leaves demand. It is obvious that the reduction of health risks will result into less expenditure that the government will spend of health care in the long run. This ensures improved productivity which will boost the production possibility frontier (PPT). Others benefits to the government include gains in terms of less energy used for ventilation needs and possibilities of increased investment. One would expect that the government revenue would be reduced from the drop in taxes gained from the manufacturing industries, tobacco farmers and the hospitality. Unfortunately this does not seem to be the case. In June 2007, a month before the enactment of the ban, the Kenyan government increased the â€Å"Sin-Taxes†. It seems that the government had counter measures of reducing any chances of future loss of revenue in anticipation of the ban in Junly 2007. For this reason, then it appears that the stakeholders (smokers and related industries) took the overall burden. However, the government will need to create more job opportunities for loss in employment. In addition, government will have to give subsidies to tobacco farmers since the new law will reduce their income and discourage them to continue farming. Since cigarettes contain the addictive substance called nicotine, some smokers may not be able to eventually quit. This may prompt the government to initiate surrogate smoking programs such â€Å"smoking cessation†. One would expect that the new law will impact on the valuation of the tobacco industries. This is definitely true since there was an initial drop in the stock price of BAT stock in the NSE immediately after the ban was enacted. According to The East African, it is estimated that the BAT stocks in the NSE lost Ksh3.5 billion ($48.6 million) in a period of one year. BAT share prices dropped from Kshs. 200 per share to Kshs. 165.00, the lowest during that trading period. In spite of this, today, the stock price has stabilized. This can be owed to the fact that the short run production was affected which led to market speculations of the uncertainty of the BAT in the long run. However, BAT did take counter measures of expanding its foreign market hence giving assurance of long run. Currently, according to Business Daily, so far the BAT shares at the NSE have been stable despite further series of smoking bans by other local authorities. This is consistent with economics of production wher e all the fixed factors of production are variable in the long run hence ensuring some level of return to scale just as BAT has done to ensure it stays in production. Contrarily, in the short run, a firm is only able to change the variable factors and not fixed factors just as the stock prices of BAT reflect in short run versus long run.

Lion Dancing :: Dance Culture Cultural China Chinese Essays

Lion Dancing When you’re in Chinatown on Chinese New Year, you can hear the firecrackers popping followed by the loud music of banging drums and cymbals clashing in beat with each other. Then as the smoke clears, a huge beast emerges from the smoke. Kids hide behind their parents as the beast shakes its head from side to side and begins to dance around. It is a frightening beast, but it scares the evil spirits and brings good luck to all the stores around Chinatown. As some people know from this description, this is Lion Dancing – a mixture of dance and martial arts. The legendary story of how Lion Dancing began takes place in a cave where the lions were sleeping. A monk enters and prepares a shrine around the cave. When he is finished, the monk wakes the sleepy lions by playing on the drum and gong. He wants the sleepy lions to bow to the shrine he has created, but the lions only want to dance around and have fun. So the monk takes some lettuce greens to poke fun at the lio ns and get their attention. This makes the lions so mad that they eat the greens. Nowadays, Lion Dancers throw lettuce at the audience in order to spread good luck around because the greens represent wealth. There are different styles to Lion Dancing and they are each represented in various ways. For example, the Buddhists believe this dance spreads courage, energy, and wisdom to people. This is because Lion Dancers use fighting tiger and crane poses to make themselves look powerful. In other lion dance troupes, their stances can represent specific animals just from the movements of their feet. The head of the lion also represents different animal forms by the symbols and decorations on it. For instance, the curved horn on top of the head represents a phoenix and the ears and tail represent a unicorn. Some may assumed lion dancing is only done on Chinese New Year and Harvest Moon, but this kind of dance is also used to bless people on special days such as birthdays, weddings, and grand openings for stores. Lion Dancing has inspired me to get in touch with my Asian American side. At first, all I knew about Lion Dancing was that it’s entertaining and brings good luck to everyone during Chinese New Year. Lion Dancing :: Dance Culture Cultural China Chinese Essays Lion Dancing When you’re in Chinatown on Chinese New Year, you can hear the firecrackers popping followed by the loud music of banging drums and cymbals clashing in beat with each other. Then as the smoke clears, a huge beast emerges from the smoke. Kids hide behind their parents as the beast shakes its head from side to side and begins to dance around. It is a frightening beast, but it scares the evil spirits and brings good luck to all the stores around Chinatown. As some people know from this description, this is Lion Dancing – a mixture of dance and martial arts. The legendary story of how Lion Dancing began takes place in a cave where the lions were sleeping. A monk enters and prepares a shrine around the cave. When he is finished, the monk wakes the sleepy lions by playing on the drum and gong. He wants the sleepy lions to bow to the shrine he has created, but the lions only want to dance around and have fun. So the monk takes some lettuce greens to poke fun at the lio ns and get their attention. This makes the lions so mad that they eat the greens. Nowadays, Lion Dancers throw lettuce at the audience in order to spread good luck around because the greens represent wealth. There are different styles to Lion Dancing and they are each represented in various ways. For example, the Buddhists believe this dance spreads courage, energy, and wisdom to people. This is because Lion Dancers use fighting tiger and crane poses to make themselves look powerful. In other lion dance troupes, their stances can represent specific animals just from the movements of their feet. The head of the lion also represents different animal forms by the symbols and decorations on it. For instance, the curved horn on top of the head represents a phoenix and the ears and tail represent a unicorn. Some may assumed lion dancing is only done on Chinese New Year and Harvest Moon, but this kind of dance is also used to bless people on special days such as birthdays, weddings, and grand openings for stores. Lion Dancing has inspired me to get in touch with my Asian American side. At first, all I knew about Lion Dancing was that it’s entertaining and brings good luck to everyone during Chinese New Year.

Financial Aid Appeal Essay

First year of college was very challenging to me yet I was still wasn’t ready for the courses that I chose. My goal was to obtain an a degree maybe, i haven’t decided yet, and then i wanted to transfer to a 4 year institute to obtain a B.A Degree. My educational goal was to be majoring in an unknown field to many. In Fall 2009 I chose courses I have since realized were too difficult for a first-time student and I became overwhelmed. Having had no prior experience with college-level life, courses, and exams. I was not sure what to expect and learned that my study techniques lacking, resulting in poor grades. I also failed to attend the review sessions, did not seek assistance from my professor or tutoring help, and as a result I failed my courses. Due to these circumstances I have been rendered ineligible to receive financial aid. Without financial aid I will be unable to continue my education because I cannot afford the cost of supplies, fees, transportation, and personal expenses. Receiving financial aid will allow me more time to study properly. Without it, I will be forced to take time away from my studies in order to work. My academics are my first priority now and I realize I need to devote all of my time to them in order to be successful in the future I recently evaluated my plans to improve my academic. I have determined the following points to be the keys to my educational success. 1. I will balance the course choices better. 2. I will manage my time wisely on academics. 3. I will seek assistance with my coursework when I have difficulties. 4. I will maintain communication with my professors on a regular basis to ensure success in my courses 5. Complete classes C or better. I understand the expectation better now and I am doing well in my coursework this semester with currently all passing grades. I have made a huge improvement and I am determined to pass every class this semester. Although I have made great improvements, without financial aid I fear I will find myself struggling to succeed once again. I hope those of the financial aid committee who read this will give me a second chance to help me accomplish my goals and reach success for the rest of my time at college. Thank you for allowing me the opportunity to explain my financial circumstances. I look forward to hearing about your decision. Sincerely, Any correction/improvement needed? thanks

How the Drinking Bird Science Toy Works

How the Drinking Bird Science Toy Works The drinking bird or sippy bird is a popular science toy that features a glass bird that repeatedly dips its beak into ​the water. Heres the explanation for how this science toy works. What Is a Drinking Bird? Depending on where you live, you may see this toy called a drinking bird, sipping bird, sippy bird, dippy bird or insatiable birdie. The earliest version of the device appears to have produced in China circa 1910-1930. All versions of the toy are based on a heat engine in order to function. Evaporation of a liquid from the birds beak lowers the temperature of the head of the toy. The change in temperature creates a pressure differential inside the body of the bird, which causes it to perform mechanical work (dip its head). A bird that dips its head into water will keep dipping or bobbing as long as water is present. In fact, the bird works as long as its beak is damp, so the toy continues to function for a span of time even if it is removed from the water. Is the drinking bird a perpetual motion machine? Sometimes the drinking bird is called a perpetual motion machine, but there is no such thing as perpetual motion, which would violate the laws of thermodynamics. The bird only works as long as water is evaporating from its beak, producing an energy change in the system. What Is Inside a Drinking Bird? The bird consists of two glass bulbs (head and body) that are connected by a glass tube (neck). The tube extends into the bottom bulb almost to its base, but the tube does not extend into the top bulb. The fluid in the bird usually is colored dichloromethane (methylene chloride), although older versions of the device may contain trichloromonofluoromethane (not used in modern birds because it is a CFC). When the drinking bird is manufactured the air inside the bulb is removed so that the body will fill with fluid vapor. The head bulb has a beak that is covered with felt or a similar material. The felt is important for the functioning of the device. Decorative items, such as eyes, feathers or a hat may be added to the bird. The bird is set to pivot on an adjustable crosspiece fixed to the neck tube. Educational Value The drinking bird is used to illustrate many principles in chemistry and physics: boiling and condensation [dichloromethane has a low boiling point of 39.6 Â °C (103.28 Â °F)]combined gas law (​the proportional relationship between the pressure and temperature of a gas in a constant volume)ideal gas law (​the proportional relationship between the number of particles of a gas and the pressure in a constant volume)torquethe center of masscapillary action (wicking of water into the felt)wet-bulb temperature (temperature difference between head and body bulbs depends on the relative humidity of the air)the Maxwell-Boltzmann distributionheat of vaporization/heat of condensationfunctioning of a heat engine Safety The sealed drinking bird is perfectly safe, but the fluid inside the toy is not non-toxic. Older birds were filled with a flammable fluid. The dichloromethane in the modern version is not flammable, but if the bird breaks, it is best to avoid the liquid. Contact with dichloromethane can cause skin irritation. Inhalation or ingestion should be avoided because the chemical is a mutagen, teratogen and possibly a carcinogen. The vapor quickly evaporates and disperses, so the best way to deal with a broken toy is to ventilate the area and allow the fluid to disperse.

Man Of Marble Review essays

Man Of Marble Review essays Man of Marble is an epic film about two periods of Polands life, the 1950s when Poland became a Peoples Republic, and was at the height of the Stalinization period, and the 1970s when a revealing look back of that time takes place through a young film student and a camera crews investigation of a former workers hero. Agnieska is a determined film student who feels she has found the ideal subject for her diploma film: an investigative documentary on former post-war working-class hero Mateusz Birkut. Birkut was a leader and a public figure who becomes unpopular with the communist government and disappears from the public eye. Her producer reluctantly agrees to the project, yet he holds reservations for the possible political implications the film could produce. Agnieska conducts her first interview with a man named Burski who was a renowned filmmaker who found the photogenic Birkut in the industrial town of Nowa Huta. He decided to showcase the young man in a propaganda filled documentary known as Architects of Our Happiness. With a support team of bricklayers including his best friend, Witek, Birkut sets a record for laying bricks and becomes a hero to the people. Birkut is publicized as an exemplary worker, a Stakhanovite, and is honored for his skill and productivity with larger than life posters hanging from government buildings and impressive museum sculptures formed in his image. Birkut becomes an instant celebrity and rises with social prominence until an ill-fated day. During a demonstration, Birkut is sabotaged by being passed a burning hot brick in front of a camera. He hands are badly burned and his career takes a bad turn. Witek disappears one day after being summoned to a government official. Birkut is outraged and searches in vain for his good friend. He is imprisoned and while locked up, his wife denounces him. Upon his release from prison he seeks to men...

Serial killers Essay Example | Topics and Well Written Essays - 3000 words

Serial killers - Essay Example This research essay will make an earnest attempt to find out what poignantly contributed to the onset of this intricate distorted personality and their violent demeanour which is far more many-sided. Introduction In the modern forensic psychology, serial murders appear to have assumed a pivotal place. According to Burgess, Douglas & Ressler (1983), a serial murder is one who has killed at least three or more victims with a cooling -off period in-between each murder. A serial killer does not have any past connection with the victim and murder seems to be random or unconnected. Further, the murder is mainly on the psychological background or for sex abuse and not for any monetary benefits. Serial killers’ victims will be adolescents, children, prostitutes and women. Dr.Harold Shipman, a serial killer, killed only elderly women who were his patients whereas young women are the choice for Ted Bundy. On the other hand, there was a female serial killer namely Alieen Wuornos who was a prostitute by profession who killed her male clients. Green River Killer practice was to kill the runaways and prostitutes. There are different motives attached to for the serial killing where some killers do the same for sexual pleasure ,some do it due to hatred, some do it for revenge , some do it because their intuition asked them to do it. (â€Å"Thomas, 2010, p.6†). ... and observed that their killings were done without any plan of action , a discovery that corresponds to the apparently random itinerary of spree killing. Casewell and Hollin (1994) defined serial killing as â€Å"many victims who are killed over the period of hours or days or weeks or months in diversified locations by a vagarious killer who seems to make no effort to escape detection. According to Fox and Levin (1998), multiple killings includes instances in which victims are killed either at over a short period of time (spree) or at once (mass) or over an elongated phase of time (serial) and hence, the time frame of serial killing has been detailed as either long or short duration that somewhere conforms to between serial killing and mass killing. (DeLisi et al, 2008, p40). Beauregard and Proulx (2002) examined the offending courses of 36 Canadian killers who were more often impelled by sexual sadism. According to Hazelwood and Warren (2000), sexually violent criminal killers are either ritualistic or impetuous in nature. They also found that impulsive killers are criminally primitive and mostly reactive in terms of crime scene demeanour and victim selection. Fox & Levin (1998) found that serial killers are those who kill their victim with their bare hands without the help or usage of any weapon or instrument. (DeLisi et al, 2008, p41). â€Å"Kinds of Serial Killers† There is no uniformity in defining a serial killer. This is mainly because due to the absence of typologies established to describe between kinds of serial murders. Based on analysis and interviews of more than 400 cases of serial killers, Holmes and De Burger (1988) have offered a complete definition of a serial killer. According to Wilson (2007), Holmes and De Burger, from their research study, they

Student Success Plan Essay Example | Topics and Well Written Essays - 1000 words

Student Success Plan - Essay Example The major purpose of the review is to provide helpful information on the value of the various approaches to parents and teachers so they would be better able to determine which was best for their child/student. In order to affectively ensure that educational pursuits are being taught effectively for the benefit of this young girl, we must provide a plan of action that will enhance her abilities in art and reading yet transfer those abilities toward subjects including mathematics, language, science, social science and music. There have been many studies on the subject of teaching autistic students. Autism is a very complicated disability that affects a child's cognition, perception, speech and motor abilities and so very much more. Seeking other methods for autistic children to express their intelligence has been the goal for many educators. For some with certain disabilities this requires a certain level of motivation. Possessing the ability to structured teaching is the ultimate goal of teaching this autistic girl, especially at the young age of six years. Classrooms must be structured in a specific manner for teachers to effectively teach their autistic students. ... round this young girl's strengths of reading and art would in fact be to the benefit of her educational pursuit, incorporating artistic measures into mathematics, the creation of maps for social sciences, and the use of diagrams which are designed and drawn in artistic formula. Five steps to creating the most effective learning environment and plan for a six year old with autism would require the following: A classroom which is designed to have access to the tools for drawing, painting and other design capacity would in fact be of benefit. Physical organization of the classroom environment is effective in allowing for focused attention on lessons as they are managed. Ensuring the situation in which this student will be fully functional in placement of desks, doors, and bathroom facilities will assure a balanced environment for more enhanced learning experiences. The use of color in the various teaching formats will maintain attention span and allow for focus upon the objectives of the daily lesson. Color, if used effectively, can allow associative capacity, one color for a certain activity, or a certain location in the classroom, such as the bookshelf. The use of scheduling gives a structure to classroom learning utilizing sequential memory and organization of time. Utilizing two levels of scheduling simultaneously will allow for focused individual education along with group activities. Events outlined for the entire classroom that also focus on the time to spend in individual educational pursuits. Utilizing simplified language will facilitate a greater capacity for understanding instruction and communication for both the student and the teacher and the ability to allow autistic students time alone if they need it. Simplified language and the use of pictures to

The Success of Family Run Tourism Agency Essay Example | Topics and Well Written Essays - 1500 words

The Success of Family Run Tourism Agency - Essay Example The essay "The Success of Family Run Tourism Agency" analyzes what a tourism as a family run business needs to be, aims to gauge the extent of the influence of the external factors that have a considerable impact on the family run business and examines the factors which may hinder the success of the family run tourism agency.Information technology has facilitated wider options of holiday destinations to the common man and travel agencies have made it easier for him to go too far flung places by providing the necessary appendages like accommodation, transport etc. In fact ‘consumers are now able to put together more flexible packages via the internet’. At the same time, globalization has dramatically changed the lifestyle of the people. It has brought in a new dimension of work culture and an inherent competition that is both invigorating as well as stressful. The attractive vacation packages which are highly de-stressing in content would be greatly in demand as they woul d rejuvenate body and mind so people can come back to take up their professional life with renewed vigor and enthusiasm.Tourism industry’s challenge is to provide increased value for money either through innovation–driven cost reducing changes in production and marketing processes or through product changes providing more varied tourism experiences. Holidays have always held a special charm for the young and the old alike. Krippendorf says ‘travel is: recuperation and regeneration, restoring body and soul’.

Visit to Hill Station Essay Example for Free

Visit to Hill Station Essay Our school was closed for summer vacations on 18th May. It was very hot in Delhi. My parents decided to go to Niligiris. I too accompanied them. We packed our luggage and got ready for the journey. We went to Coimbatore by train. The railway journey was rather tiresome. From Coimbatore we went to Ooty by bus. We reached there in the afternoon and put up at a hotel. Ooty is one of the best hill-station of India. It may be called the queen of hill-station. It has many beauty spots. Next day, after breakfast, we were crowded with tourists form different parts of the country. People were making all sorts of purchases. After lunch we went to botanical gardens. We enjoyed the expense of horticultural beauty around our heart’s content. Niligiris has a healthy climate. It is a beautiful summer resort. The mountain slopes are covered with tall, green trees which present a caring sight at sunset and look very grand. The morning and evening hours are very pleasant. A cool breeze sets up and refreshes the mind. It makes one forget the oppressive heat of the plains. I felt happy in the company of nature. The bright hued flowers, the clouds sailing across the sky and the snow covered peaks of the high mountains in the distance filled my heart with joy. We stayed there for fortnight. I returned to Delhii reluctantly. The memory of my visit to Niligiris is still fresh in my mind.

Beginning Of Basketball Essay -- History Basketball

The Beginning of Basketball Have you ever had an interest in how something was invented? An interest in how your favorite activity or hobby came about? Ever since I was introduced to sports and how competitive it was, I became hooked. I enjoy playing football, basketball, and baseball. Of the three main sports that I play, basketball seems to be my favorite. It challenges endurance, speed, accuracy, agility, and strength. I feel guilty not knowing who created the game that takes up most of my free-time. It is time for me to learn about the inventor and the games past. Basketball is one of the most popular games in the United States. There are many different versions of it based on where one has grown up. In the less fortunate areas of the United States, a type of basketball originated called And 1. It is all about stunning the crowd with tricks. This form originated a league of amazing basketball players that are sponsored by And 1. And 1 is a brand of basketball accessories, and the name of a team that travel from city to city. The And 1 team takes on other teams, with the same playing styles, that think they are worthy enough of playing them. This form of basketball throws out some of the rules, such as traveling and carrying, in order to broaden up the ability to achieve tricks. Although there are different versions of the game, the original game is one of the largest played world-wide. He was born on November 6, 1861 in Almonte, Ontario, Canada, where he later attended high school. The man of average height, and weighing about one-hundred eighty pounds, lead an amazing life. His name was James Nasmith. After James graduated high school, he accomplished many incredible things. Nasmith started in 1887 with getting his phi... ...y of such accomplishments would be responsible for creating the game of basketball. It amazes me that not only did he invent basketball, he achieved getting 4 degrees, served in the military, won awards for being best rounded athlete, was a professor, a minister, a basketball coach at the University of Kentucky, a director, and a doctor. James Naismith was also "the first to introduce the use of a helmet in American football" (James Naismith). It makes me wonder if there is a man in the whole world that has ever accomplished more than the great James Naismith. Works Cited "Hall of Famers-James Naismith" Naismith Memorial Basketball Hall of Fame. 2000. 27 Feb. 2007 "James Naismith." Wikipedia The Free Encyclopedia. 24 Feb. 2007. 27 Feb. 2007 Petersen, Mary "The Basketball Man (Dr. James A. Naismith)" Highlights for Children. November 1, 2005.27 Feb. 2007.

The Role of Dreams in Genesis, Song of Songs, and The Oresteia Essay

The Role of Dreams in Genesis, Song of Songs, and The Oresteia When describing the role of dreams in ancient texts, Freud wrote, â€Å"They took it for granted that dreams were related to the world of the supernatural beings in whom they believed, and that they brought inspirations from the gods and demons.   Moreover, it appeared to them that dreams must serve a special purpose in respect of the dreamer; that, as a rule, they predicted the future.†Ã‚  Ã‚   He goes on to explain the findings of a fellow psychiatrist, Gruppe, who believed that there are two classes of dreams in ancient texts.   The first class is influenced only by the present or past and does not play a largely significant role in these texts.   The second class, however, is determinative of the future and is quite important to the understanding of the texts in which they appear.   This class contains dreams that are direct prophecies and directly show the future, dreams that are foretelling of the future and indirectly hint at what the future will be, and dreams that are symbolic and require interpretation to fully understand their explanation of the future.  Ã‚   The gods use all these types of dreams to play a direct role in the lives of men in Genesis, Song of Songs, and The Oresteia.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The use of dreams in Genesis is most obvious through the story of Joseph.   Dreams play an important role in determining the course of Joseph’s life, and are used to reveal the mind of God to the people.   The first dreams he encounters are those of the sheaves of his brothers bowing down to his sheaf, and the sun and moon and eleven stars bowing down to him.   These dreams best fit into Gruppe’s description of symbolic dreams.   While their explanation is fairly evident as showing tha... ...re very important in ancient texts because they present to mankind a world that they cannot see.   Without dreaming, there would be almost no connection to the gods, to those beings who impact and design life on earth.   As Freud states, there is significance in every dream; they each have a special meaning for the person who experiences them.   They are important because the gods can directly shape the course of a life through them, because they can be a form of communication with the gods, and because they can show what is going on behind the secret â€Å"god curtain† that humans cannot see through.   Without dreams, man would be stranded, left on earth by himself with no understanding of the meaning behind things.   For this reason, dreams are used as a major literary device, because they create a supernatural connection that everyone can experience and wonder about.   

“Interests” and Accounting Standard Setting in Malaysia

AAAJ 12,3 â€Å"Interests† and accounting standard setting in Malaysia Faculty of Business and Accountancy, University of Malaya, Kuala Lumpur, Malaysia Keywords Accounting profession, Malaysia, Standards Abstract This paper offers insights into the conflicts and tensions within the Malaysian accounting profession and the power struggle therein to dominate the accounting standard setting process, within the context of a rapidly developing country.It shows how interest groups and parochial interests, along with issues of self-protection, affected the process of standard setting, which was controlled by different interests over the period under study. At one time the profession dominated. But far from being a monolithic body, it was in turn split according to various interests: the Big Six behind the Malaysian Association of Certified Public Accountants (MACPA) and the smaller firms behind the Malaysian Institute of Accountants (MIA).At other times big business prevailed. These conflicts and power struggles are revealed through an analysis of the case of the Goodwill Accounting Standard. Selvaraj D. Susela 358 Introduction This paper offers an understanding of the struggle within the accounting profession for control of the standard setting process, in the context of a developing nation. The focus on standard setting is specially geared to reveal the impact of that process on the profession, market, state and community, and vice versa.Susela (1996) illustrates that because standards clearly impact on practitioners (the profession), it is hardly surprising that they develop â€Å"interests† around standard setting, whether expressed through accounting associations or firms. The standard setting arena is here viewed as a site of struggle between interest groups, both within the profession and outside it. To date, no such study has been done of the Malaysian accountancy and standard setting domains. In particular, there has been very little scholarly a nalysis of events discussed here. The paper follows the actors and institutions involved in setting an accounting tandard based on goodwill, through a grounded study of the policy makers and their social context. The focus of the analysis is not the technical aspects of goodwill accounting but rather the process by which the standard was adopted. The analysis below highlights conflict within the profession, in particular the power struggle between vested interest groups: the Big Six and the smaller firms, or rather the chartered (including CPAs) and the non-chartered accountants. The author would like to thank the anonymous reviewers and the guest editor of this special edition for comments and suggestions that improved this article substantially.I also acknowledge the helpful comments of participants at the Fifth Interdisciplinary Perspectives in Accounting Conference, University of Manchester, UK, 7-9 July, 1997. The views expressed in this paper are solely the responsibility of t he author. Accounting Auditing & Accountability Journal, Vol. 12 No. 3, 1999, pp. 358-387. # MCB University Press, 0951-3574 The Goodwill Standard is an eminently suitable vehicle for empirical Accounting analysis. First, it is an issue which has been of concern to standard setters and standard setting regulators in Malaysia since 1971.Second, it is also intimately linked with the in Malaysia dynamic growth of the Malaysian economy and the shift in the state's objectives over the last 20 to 30 years. As these have recently involved encouragement of the corporate sector, a powerful group affected by, and 359 impinging upon, standard setting, tracking the goodwill issue is a way of analysing the corporate sector's entry into the standard setting process. Third, the historical analysis captures the changing attitudes to local initiatives versus overseas influences over time.Fourth, this is the only standard which was considered controversial at the time of the study. The existence of t wo accountancy bodies, the Malaysian Institute of Accountants (MIA) set up in 1967 by the state as a statutory body to regulate the accounting profession, and the Malaysian Association of Certified Public Accountants (MACPA) set up as a private association in 1958, complicates the notion of interests. The conflicts surrounding the two major professional bodies became the focal point as each strove to dominate the standard setting process. For a time, the MIA and MACPA collaborated on the GoodwillStandard. The outcome was the Malaysian Accounting Standard (MAS) 6, which required the amortisation of goodwill over 25 years. However, MIA adopted the standard in 1993, whereas MACPA deferred its approval. Furthermore, other players lobbied the state, and MIA was asked to defer its adoption of the standard. This paper analyses these events with a view to identifying the interests involved and the dynamic relationship between these interests. The discussion is organised as follows: the next section discusses briefly the notion of interests and the view of standard setting embedded in the empirical analysis.Then follows a brief review of the historical and institutional context in Malaysia, the object of which is to identify relevant features of the Malaysian context which may be unfamiliar to non-Malaysian readers. A historical analysis of the shifting fortunes of, and arguments put forward by, the various participants in the standard setting process appears in succeeding sections. The contribution of the paper is summarised in the conclusion. Interests Watts and Zimmerman (1978) heralded their study of the lobbying behaviour of companies as the beginnings of a theory that might explain the determination of accounting standards.Similar studies (Haring, 1979; McKee et al. , 1984; Watts and Zimmerman, 1986) also analysed the association between characteristics of respondents lobbying on specific accounting issues. The model employed was a â€Å"rational choice/rational actor† model. The concern in this section is not directly with the epistemological claims of the writers, although these claims have been subject to penetrating criticisms (Chua, 1986; Hines, 1988; Whitley, 1988; Robson, 1993). Rather, the aim is to contrast the approach taken here with the rational choice model employed by positive accounting theorists.AAAJ 12,3 360 Clearly, there are definite connections between actors' social locations and the interests they acknowledge or act upon, but there is no simple correspondence between the two (Hindess, 1989, p. 83). Actors are not mere creatures of their positions in sets of social relations, or their class, gender, or group. The forms of assessment available to them are rarely so limited as to be given uniquely by their social location. The conclusions of their deliberations depend on complex internal and discursive processes.They are not determined solely by the forms of assessment employed. This implies that interests do not f unction as a mere transmission device between social structure, on the one hand, and individual action, on the other. Interests cannot determine the means whereby the structure of society produces its effects. In other words, social structure is by no means a given entity operating outside of and above actors, manipulating them to produce its necessary effects. But this does not negate the perception of the existence of relatively pervasive and enduring social conditions.Instead, it provides a view of interests as â€Å"conceptions†. If they are to have consequences, it must be possible for them to be formulated by some actor or actors, and in this or some other way, to provide them with reasons for action. Therefore, the interests and reasons for action developed by actors depend on how they assess the contextual resources they are in a position to employ. Robson (1993) uses this mode of inquiry in his study of SSAP 13 on Research and Development.Being attentive to the forms of assessment utilised by actors in the standard setting process, he suggests not only that interests are an outcome of a historical process but that the identification of a particular accounting issue as a problem is also the outcome of a historical process. The conditions under which an accounting issue is conceived as a problem at a specific point of time are seen as matters for investigation (Hindess, 1988, 1989; Robson, 1993). In other words, any accounting standard contains a â€Å"representation† of a specific social and political context.Cooper and Sherer (1984, p. 208) contend that: . researchers should be aware of the possibility that actual policy outcomes may be an imperfect match with the underlying intentions and motivations; and . the strategic consensus and patterns of outcomes (in this case the accounting standards) may more or less consistently support some specific interest above others. These tenets have guided the analysis of interests presented below. O ne important implication is that analysis of standard setting must not be restricted to key actors in isolation.Instead, an overall understanding of the domestic political economy and the global political economy is necessary. Figure 1 shows that the interaction of the four organising principles  ± the state, the profession, the market and the Community  ± has to be studied within the local and global context, with due emphasis on the specific historical and DOMESTIC POLITICAL ECONOMY Interaction of State, Profession, Market and Community Constituencies of Regulation Interaction of Various Interest Groups Standard-setting Accounting standard setting in Malaysia 361DOMESTIC POLITICAL ECONOMY Stages of Economic Development Colonial History Socio-political economic systems GLOBAL POLITICAL ECONOMY Impact of Transnational Corporations International Trade International Accounting Standards International Accounting Firms Figure 1. Framework for understanding the accounting standard se tting process institutional environment of the society in which accounting operates. It must be recognised that the economy is now dominated by large corporations, and that the state is actively involved in managing the economy (Jesudason, 1990).The historical and institutional context Brief history of the accounting profession in Malaysia Since its formation, the MACPA has been actively involved in providing its members with technical guidance and training as well as setting the professional examinations. The dominant force behind the MACPA is the chartered accountants (CAs) from the UK and Australia. During the period 1958 to 1967, there was no legislation to regulate the accountancy profession.There were in Malaysia many accountants trained through various overseas bodies, with the balance trained through local examinations and training conducted by the MACPA, the only active local accountancy body during this period. Its membership consisted mainly of foreign qualified accountan ts, specifically CAs from the UK and Australia, and a handful of local CPAs. Membership of the Association of Certified Chartered Accountants (ACCA) in Malaysia was also growing. The Big Six[1] supported the MACPA and locals training in the Big Six firms were encouraged to sit the MACPA examinations.However, ACCA and Australian Society of Accountants (ASA) members received little support from Big Six firms (Susela, 1996). The ACCA and ASA AAAJ 12,3 362 graduates found it difficult to gain MACPA membership[2]. The state was persuaded by disgruntled ACCA and ASA members to set up a local authority to regulate the accountancy profession. The Accountancy Act 1967 provided for the registration of accountants and the establishment of the MIA. The MIA recognised ten professional bodies for admission purposes  ± the ASA and ACCA included.However, MACPA continued to dominate the development of the accountancy profession as the MIA was content with the statutory function of registering acco untants practising in the country (MIA, 1987). Since 1973 there have been several attempts by the two bodies to form a single national body through merger (MACPA, 1974). The state was keen to see the two bodies merge. At one stage the then Deputy Prime Minister (currently the Prime Minister) supported the formation of a unified profession (MACPA, 1980). Finally, the two bodies arrived at a merger proposal which was submitted to Cabinet but was rejected in 1985 (MACPA, 1985).The reasons for the failure of the merger are examined below, at the empirical stage. When the merger proposal failed, the Ministry of Finance in 1986 appointed a practising accountant (formerly a Council member of MACPA, and partner of a Big Six firm) to become MIA President, replacing the Accountant-General who had served as President since 1967. At the first Annual General Meeting of MIA held in September 1987[3], 700 out of over 2,500 ACCA members attended and voted in a new Council committed into turning MIA into an active regulatory professional body (De Freitas, 1992).The history of standard setting (focussing on goodwill) MACPA was at the forefront of developing and issuing accounting standards prior to the activation of MIA in 1987. Standard setting activities commenced during the early 1970s. The relatively laissez-faire atmosphere of the 1960s was replaced by greater state intervention with the introduction of the New Economic Policy in 1970, which sought to increase the Bumiputras[4] ownership of the corporate sector to 30 percent by 1990.Part of the effort to restructure the society was directed at reducing foreign ownership of assets in Malaysia. The New Economic Policy created an environment conducive to corporate mergers and takeovers (Tan, 1981, p. 9). Several foreign-owned companies were acquired by local corporations and by public enterprises operated by the state. The Malaysian government set up various government-controlled organisations to acquire interests in the corp orate sector in trust for Bumiputras.In circumstances such as these, the intention of such planned acquisitions was to achieve socio-political rather than corporate objectives. In this process, huge amounts of goodwill were recorded by big conglomerates. A Technical Committee was set up by MACPA in 1971, its immediate function being to act on a letter dated 10 September 1971 sent by Bank Negara Malaysia (the Central Bank) to the then President of MACPA[5], which pointed out, amongst other things, that there was a need for: . . rofessional standards to guide reporting by the accounting profession; Accounting guidance on specific accounting matters, including revaluation of assets, standard setting the creation of goodwill, and the criteria by which accountants would be in Malaysia prepared to recognise such items, and the treatment of stock in trade (MACPA Technical Committee, 1971). In that letter the Governor also urged that â€Å"MACPA take steps to establish for its members a st atement of generally accepted accounting principles and a statement of generally accepted auditing standards†.In the same letter, the Governor referred to the issue of goodwill as follows: F F F these analyses give rise to serious reservations about the upward revaluations of certain assets and the creation of â€Å"goodwill† by companies prior to offering their shares to the public or applying for listing on the Stock Exchange †¦ Generally, our Committee tends to view â€Å"goodwill† with scepticism and I would like to have the assurance that the auditing profession would not support the valuation placed on goodwill without full confidence that it is fairly stated. 63 After 1976, the MACPA Technical Committee undertook the review and consideration of international accounting standards (IASs) for possible local adoption, as well as studying the accounting policy of industries of particular importance to the Malaysian economy, or otherwise of interest to Mala ysia. During this phase (1970-1980), standard setting was very much an ad hoc activity as basic infrastructure was being put in place.The Central Bank, the Capital Issues Committee (CIC  ± part of the Ministry of Finance) and the Kuala Lumpur Stock Exchange (KLSE) were setting the standard setting agenda in a context where the proliferation of IASs was noted and welcomed, particularly as IASs were regarded as a means for achieving international recognition (Susela, 1996)[6]. However, beginning from 1980, the focus of the standard setters was on developing guidelines on issues that were peculiar to the Malaysian environment and for which there were no IASs, or where the IAS treatment was contrary to local legislation.Hence the emphasis was directed towards developing technical bulletins and recommendations which were later issued as definitive Malaysian Accounting Standards (MAS). When the International Accounting Standards Committee (IASC) issued IAS 22 on Business Combinations in 1985, two issues were found to be contentious in the Malaysian environment: (1) merger accounting; and (2) accounting for goodwill. MACPA had to consider two separate accounting standards to deal with these issues adequately. MAS 2 on Accounting for Acquisitions and Mergers was issued in 1989.Goodwill was the other issue. Why goodwill was a particularly problematic issue is clarified in the empirical section. Until 1986, MACPA issued its own standards (or adapted IAS standards) for adoption by its members. There was no other standard setting process. When the MIA was reactivated in 1987, it adopted all the standards previously AAAJ 12,3 364 adopted by MACPA. On 14 April 1986, a Joint MIA/MACPA Working Committee had been formed to discuss possible co-operation between the two bodies.From May 1987 until 1992, all technical standards were developed jointly by MIA and MACPA and issued as joint statements. The efforts of the Joint MACPA/MIA Working Committee resulted in the establishmen t of a Common Working Technical Committee in March 1989, consisting of members of MACPA and MIA. This also marked an important era in the standard setting history where both bodies worked jointly on the standards, especially addressing issues pertinent to the local environment, for example, MAS 1 on Earnings Per Share; MAS 2 on Mergers and Acquisitions and MAS 5 on Accounting for Aquaculture.One of the standards that resulted from this joint effort was the Goodwill Standard. Although the Goodwill Standard had been on the agenda of the MACPA Technical Committee since 1971, it was not pursued until much later. It is not clear why this was so[7]. The issue was raised several times by the CIC and the MIA was approached to develop a standard in 1987[8]. This prodded both bodies to work jointly, as by this time MACPA had immense expertise in standard setting.The MIA, in its enthusiasm to take over the leadership of the accountancy profession and maintain its privileged corporatist arrange ment with the state, and MACPA, in its eagerness to uphold the self-regulatory status quo, seized this opportunity to demonstrate their responsiveness to the call from the state and the prevailing â€Å"public interest† rhetoric. On 1 July 1987, the Presidents of the MIA and MACPA signed a circular to members which contained a questionnaire inviting comments on a discussion paper on goodwill accounting.The views received were so diverse that the issuance of a standard was deferred. While the debate continued, the need to establish an acceptable method of goodwill became more crucial. However, the two bodies did not pursue the matter until there was further prompting from the CIC. The CIC decided to take matters into its own hands by including in its guidelines subsection 17. 51 (CIC, 1991), which specifically states: Intangible assets fall into two (2) broad categories as follows: (i) (ii) goodwill; and identifiable intangible assets, such as patents, franchises, etc.The firs t category should be treated in accordance with the relevant accounting guidelines or accounting standards acceptable to the CIC. The second category should be amortised systematically over its useful economic life. It should not be revalued or have previous amortisation reversed and it should be written off immediately in respect of any permanent diminution in value. The promulgation of the CIC guidelines was considered to be timely (Tan, 1991, p. 3). However, it left many issues unanswered, such as the recognition and measurement criteria for intangibles.It was recommended that these issues be addressed using a holistic approach, and that the local professional bodies were most qualified to deal with the issues. This led to the next line of action by MACPA and the MIA: the Accounting commissioning of a study by an academic to determine the extant practice of standard setting goodwill accounting in Malaysia. A survey of published annual reports of 276 in Malaysia companies listed o n the main board of the KLSE was conducted in 1991. It was found that 155 of the 276 companies had a goodwill accounting policy.The treatments used were as shown in Table I. 365 The analysis clearly indicated a diversity of goodwill accounting treatments adopted by publicly listed companies in Malaysia. In fact, there was quite an even spread of companies between the three major approaches to goodwill. The MIA/MACPA subsequently jointly reissued another discussion paper on goodwill to obtain views from members and user groups on the preferred treatment of purchased goodwill. The revised discussion paper was issued in August 1991. A total of 112 responses were received.An analysis of their preferences is shown in Table II. Note that Table II refers to the preferred method of accounting for goodwill rather than the actual method used by listed companies. Of the respondents, 69 percent were senior officers of commercial, industrial and financial institutions. The preference for the amo rtisation method at that time contrasts both with the diversity of practice and hostility shown to this method later[9]. Based on the comments obtained, MAS 6 was issued as an exposure draft by the MIA in September 1992.MAS 6 was based on the UK ED 47, which had raised considerable controversy in the UK and had been shelved by then. However, based on the same responses to the survey, MACPA decided that existing views were too diverse and decided to defer MAS 6 until the fate of the UK ED 47 was determined. MAS 6 required that goodwill be amortised over 25 Treatment of goodwill Amortisation Permanent item Immediate write-off Others Total Source: Tan (1991) Number of companies 55 52 42 6 155 Percent 35 34 27 4 100 Table I. Treatment of goodwill  ± 1990 surveyTreatment of goodwill Amortisation Permanent item Immediate write-off Total Source: Tan (1991) Number of companies 85 25 2 112 Percent 76 22 2 100 Table II. Treatment of goodwill  ± preferences AAAJ 12,3 366 years. Although th e standard was the result of the joint effort of both professional bodies, MACPA decided to defer adoption of the standard until the IASC issued its revised standard on goodwill. Due to the disagreement over the adoption of the final standard (MAS 6), the Common Working Technical Committee was dissolved in 1992 and the MACPA/MIA collaboration accordingly ceased.It has been hinted (by most respondents from the profession and market, in particular, from both MIA and MACPA committees) that the goodwill issue contributed significantly to the cooperative gesture on the part of both the bodies, as well as to the subsequent dissolution of the co-operative charade. After the Committee was dissolved, both professional bodies pursued separate ways of developing standards. The now separate accounting standards committee of the MIA recommended that the MIA Council adopt MAS 6 in 1993 as a definitive standard to be effective commencing on or after 1 January 1995, whereas MACPA deferred its adopt ion.This led to confusion. It also threatened MACPA's control over standard setting and over the profession more generally[10]. The adoption of MAS 6 raised objections from certain big corporations, and the Federation of Public Listed Companies (FPLC)[11] decided to take the matter up with the Minister of Finance, who referred the matter to the MIA. A memorandum, submitted to the MIA by the FPLC, was delivered by hand to the MIA on 6 December 1993. The MIA firmly initially stood by its decision to implement the Standard.However, towards the end of 1994, faced with increased state pressure, the MIA deferred implementation of the standard to 1 January 1997. In July 1997, the Financial Reporting Act 1997 was passed and the Malaysian Accounting Standards Board (MASB) was formed to issue legally binding accounting standards[12]. Apparently, standard setting activity was taken out of the hands of the profession. Subsequently, the Companies Act 1965 was amended to require compliance with a pproved accounting standards[13]. Until the establishment of MASB, enforcement of standards had been undertaken by the professional bodies.However, this mechanism was felt to be less effective as the profession could only take action against their own members rather than the directors responsible for financial statements. MACPA and MIA members were likely to be auditors or employees rather than directors of non-complying companies (Susela, 1996). With accounting standards now enforceable by law, the stakes for players affected by the number of accountants were raised, intensifying the contested nature of standard setting. Interaction of state, profession, market and community Puxty et al. 1987) identify three organising principles of accounting regulation. Within each principle, there are actors. Puxty et al. (1987) refer to â€Å"diverse state managers† such as politicians and senior civil servants representing the state; â€Å"agents of factions of capital† represent ing the market, and representatives of organised interest groups representing the community. An explicit corporatist Accounting theorising is built into Streeck and Schmitter (1985), which raises the standard setting possibility of a fourth organising principle, the â€Å"corporative-associative†.This in Malaysia implies an acknowledgment of a substantial degree of autonomy on the part of the state from the business sector (market). In Malaysia, the state has shown that it is capable of pursuing interests other than that related directly to the 367 economic sphere (Jesudason, 1990). Most notably for our purposes, the state intervened in accounting regulation in 1967 by setting up the MIA, a move seen as aiming to achieve social objectives. In particular, with the implementation of the New Economic Policy, the state sought to adjust the economic inequality among the various races.The setting up of the MIA was viewed as a step to increase the number of Bumiputra accountants in the country. Under the Accountants Act 1967, accounting graduates from local universities were given recognition by the MIA, thereby significantly increasing the accountant population, especially amongst Bumiputras (Susela, 1996). Under the corporative-associative arrangement devised in Malaysia some power and autonomy of the state was delegated to the MIA. It was this arrangement that an activist MIA used some 20 years later to attempt to usurp the standard setting authority of MACPA.This paper views institutions and practices as an outcome of interactions between parties who are positioned within a structure of politico-economic relations that is simultaneously united and divided by internal contradictions, tensions and struggles. Accordingly, the actions and accounts of these parties are theorised as an expression of the fusing of the principles of market, state, association[14], and community. Actors As noted earlier, certain modes of analysis only recognise human individuals as actors (for example, rational choice; liberal political economy).However, the importance of actors other than human individuals, such as capitalist enterprises, churches, political parties, state agencies, trade unions, and professional associations, has been recognised. Hindess (1989, p. 92) calls these social actors and argues that they have a place in social inquiry. On the other hand, Puxty et al. (1987) note that it is a mistake to stress the explanatory power of structural conflict if the effect is to deny or neglect the critical role of agents in the reproduction of social systems.They argue that although the agents are clearly conditioned by the location of their positions within the class structure, the â€Å"inventive† responses by the agents to the manifestation of contradictions that are continuously â€Å"thrown up† are not programmed by this location. The â€Å"state, profession, market and community† categorisation is not used here to suggest tha t predetermined interests are thereby created or presumed. It is against this background that the conceptions of â€Å"interest† formed by individual actors are discussed below.However, it is necessary first to identify the actors whose conceptions will be analysed. AAAJ 12,3 368 Constituencies of standard setting in Malaysia At various times, different institutions and interested parties have become involved with the standard setting process. These parties, referred to here as constituencies[15] in the standard setting process, form the target group for the empirical study. Through the review of the annual reports of both MACPA and MIA during the period 1971 to 1995, a listing of all persons involved in the accounting standards committees of both bodies was constructed.A total of 101 persons were involved. This represented the initial research sample and a total of 101 letters were sent out. The breakdown of the respondents is provided in Table III. The sample has been categ orised[16] according to the social location of the actors as follows: State: (1) Ministry of Finance. (2) Treasury. (3) Accountant General. (4) Bank Negara Malaysia. (5) Securities Commission. (6) Inland Revenue Department[17]. (7) Director General of Insurance. (8) Auditor General. (9) Registrar of Companies.Profession: (1) The â€Å"Big Six† public accounting firms. (2) Small and medium public accounting firms. Market: (1) Listed corporations. (2) Unlisted corporations. (3) Investors' association. Response Initial sample State Profession Market Community Total 19 45 23 14 101 Percent 19 45 23 14 100 Number 12 26 16 11 65 Percent 18 40 25 17 100. 0 Table III. Analysis of responses (4) (5) (6) (7) (8) (9) (10) (11) The Kuala Lumpur Stock Exchange. The Federation of Public Listed Companies. Multinational companies.Financial institutions. Merchant and Commercial Banks. Tax and Management Consultancy firms. Federation of Financial Analysts. Association of Merchant Bankers. Accou nting standard setting in Malaysia 369 Community: (1) Institutions of Higher Learning. (2) Other institutions such as the Institute of Strategic Issues (ISIS), Malaysian Institute of Economic Research (MIER), Malaysian Economic Association (MEA), Institute of Surveyors. (3) Consumers' Association. (4) Trade Unions. (5) Environmental groups.The responses of the above 65 actors to follow-up in-depth interviews provide the evidential basis for the empirical analysis below. In order to maintain the anonymity of the respondents in this paper, the respondents are quoted by reference to the interview number, that is interview number 1 to 65 (i-no-1 to ino-65). A brief overview of the constituencies and actors involved in goodwill standard setting is provided below, prior to the discussion below of the conceptions of â€Å"interests† brought into play in that arena.From Table III, it can be noted that participants from the profession (45 percent) and market (23 percent) formed the bi ggest group of players in the standard setting process. With regard to the professional accounting bodies, up until the formation of the MASB, the standard setting machinery operated under the auspices of MACPA and the MIA (from 1987). They were the standard setters. As late as 1995, one practitioner noted that â€Å"the way standards are set today and what it was, in the last ten years, has not changed dramatically as to who are the key players doing it† (i-no-18).However, as argued below, the corporate sector had lately been adopting an active role and the autonomy of MACPA and the MIA from the corporate sector were subsequently questioned, or compromised, or both. The accounting firms were identified as players in the process (i-no-18), but they did not speak with one voice. Most respondents emphasised that it was the Big Six (predominantly CAs and CPAs) that were the major players in the standard setting process in the MACPA camp, whereas the smaller firms drove the show in the MIA (predominantly ACCA members). However, until the AAAJ 12,3 370 ormation of the MASB, the significance of this division derived from the fact that standards issued by MIA were influential with respect to all accountants, whereas standards issued by MACPA impacted only on its own members. The participation of the major publicly listed companies, including multinationals, in standard setting increased in tempo with the rapid growth in the country. In 1992, MACPA set up a Commerce and Industry Committee to â€Å"ensure that the interests and views of members in commerce and industry are properly reflected in the Association's policies and activities† (MACPA, 1992, p. ). The involvement of commerce and industry came to the fore with the MIA's adoption of MAS 6. The business sector had previously been quite content with the standard setting regime until a standard was adopted that appeared unfavourable to a lot of the publicly listed companies. Even then, the FPLC only b ecame involved when MACPA's request to the MIA to defer the standard was turned down (i-no-8). Multinationals had various representatives, accounting and others, participating in the regulatory authorities and also in the profession.As one multinational respondent explained: I am in MACPA, we have got people in MIA, we have got people in MIT (Malaysian Institute of Taxation), MAICSA (the Malaysian Association of The Institute of Chartered Secretaries and Administrators), CIMA (Chartered Institute of Management Accountants)  ± we encourage people to participate in local regulatory bodies. Our chief executive used to sit in the CIC (Capital Issues Committee) before the present SC (Securities Commission) was set up (i-no-64).While some respondents welcomed the involvement of multinationals in standard setting because of the resources they might contribute to the process, others were also aware that the multinationals had their own agendas (i-no-64; i-no-9). Many respondents (e. g. i- no-34; i-no-13; i-no-3) claimed MACPA was stalling on the goodwill standards because of objections from industry: There was a lot of objections from industry and might be MACPA in some ways foresaw that and it did not want to get involved in that sort of problems. But MIA did  ± they are new? ecause they new to the game and did not think it will be a problem. They thought they can make a rule and impose it (i-no-34). The Accountant General was seen by some respondents (i-no-7; i-no-10; i-no-22; i-no-28; i-no-35; i-no-37; i-no-51) as the intermediary between the profession and the state and was believed to be on the MIA Council in order to represent the national interest. The extent of the Accountant General's involvement in standard setting was unclear. Although not a member of the Accounting Standards Committee, he was a member of the MIA Council that approved the Goodwill Standard.The Accountant General's view was that due consideration was not given to the views of all parties potentially affected by the Goodwill Standard. The state's views on the standard were not considered before the adoption of the standard, as one might expect in a corporatist context. This view was supported by one respondent from the Accountant General's office, who said that the state only reacted after the Goodwill Standard had been issued (i-no-35). Subsequently, however, the state called a meeting of the MIA nd the other parties to discuss the objections to the standard and the Ministry Accounting of Finance â€Å"requested† the MIA to defer MAS 6. standard setting As previous sections have noted, regulatory bodies such as the Bank Negara in Malaysia and the CIC[18] played a significant role in getting goodwill onto the standard setting agenda of the professional bodies in the 1970s and 1980s. In addition, the perception that accountancy might become an occupation to which 371 Bumiputras could be directed was part of the New Economic Policy.By the 1990s, however, with th e corporate sector and the Big Six lobbying strenuously against MAS 6, the state did not feel inclined to defend the standard. Accounting standard setting and interests Perceptions about the professional bodies As shown in Appendix, respondents were asked six open-ended questions. The third question was aimed at understanding perceptions regarding the existence of the two professional bodies. The question was as follows: The proposal for a merger of MIA and MACPA is again being pursued.Why do you think this issue is currently being pursued in spite of failures of such attempts in the past? Do you consider that circumstances have changed now? Certain themes have been extracted from the transcripts of interviews on grounds of their relevance to issues raised in this paper. As noted earlier, the professional bodies had discussed merging in the early 1970s. Eventually, a merger proposal was submitted to Cabinet in 1985 in order to amend the Accountants Act 1967 accordingly. In fact the merger was encouraged by the Deputy Prime Minister at that time.However, the proposal was rejected. A common understanding from the accounts of respondents within the profession was that the merger was seen by some groups as contrary to their interests. For example, the Institute of Cooperative Auditors, which had approximately 40 members at that time, wanted to be included in the merger, a demand not acceded to by other key players (i-no-3). Following successful lobbying of the Ministries concerned, the opposition of a key Minister to the merger was sufficient to derail it[19].One respondent recounted the situation when the merger proposal was rejected. There was rising discontent within the ACCA regarding its lack of activity vis-a-vis MACPA. This inevitably led to strong support for the A reactivation of the MIA. The efforts of the newly appointed President (a discontented former MACPA Council member) to revive the MIA and establish it as the one and only national professional bo dy were supported by the ACCA camp (i-no-24; i-no-33). One ACCA member noted further that â€Å"those who got into MIA from ACCA then had a bit of `missionary' zeal† (i-no-29).He reasoned that when MIA was resuscitated, the ACCA members feared that if they did not take an active role in running the MIA, then it would become another MACPAcontrolled body. In 1994, the two bodies were subtly forced[20] to sign a memorandum of understanding to work towards a merger. At the time of the field study, the AAAJ 12,3 372 negotiations between the two bodies were in earnest. However, by the end of 1995, the talks were called off. Most respondents (from the profession and the market) alluded to the existence of friction and professional jealousy between MIA and MACPA.This dynamic was seen to contribute to the intensity of the struggle over standard setting, as that arena was one where the dominance of one body over the other could be sought and resisted, and the outcome made more or less visible. Contributing to the struggle was the fact that both bodies were supported by â€Å"powers† seen to be equally dominating (i-no-19; i-no-16; ino-17; i-no-48). Respondents also noted that MACPA supporters were concerned about the withdrawal of government recognition if it did not get in with MIA (i-no-23).It was felt that the rivalry between the two bodies extended to the arena of standard setting. As noted previously, MACPA's Accounting Standards Committee was viewed by respondents in the profession as dominated and supported by the Big Six, and it was said to have the advantage in terms of technical support and resources. On the other hand, MIA's Standards Committee was dominated by small firms. As noted by a former Chairman of the Committee, its concern was with parochial interests (i-no-13).This comment from a practitioner typified the feeling: F F F really MIA in all respects has done a lot for the smaller accountants but they have lost a sense of perspective in d ealing with MACPA. I know there have been lots of provocation on both sides and that has all mucked up the standard setting process (i-no-43). Views about the profession Respondents from the state revealed mixed perceptions about the profession. On one hand, those who had been in close contact with the profession (i-no-14) had reservations about its ability to set standards.On the other hand, those who were mere observers (not in touch with the developments in accounting circles) still held onto the image of the professional as being somewhat â€Å"neutral† (i-no-22; i-no-59). The views of practitioners differed between the Big Six and others. On one hand, the Big Six practitioners were of the view that the profession needed to be more proactive and responsive to change, to be flexible and visionary (i-no-18; ino-29; i-no-57). It seems the profession was beginning to acknowledge other â€Å"players† in the standard setting arena.There was also a willingness to allow ma rket forces to play a role. On the other hand, the small practitioners emphasised the notion of holding onto the ideals of â€Å"sanctity† and independence. However, they conceded that accounting might not be as â€Å"objective† as it has made itself out to be (i-no-8; i-no-24). The market respondents (mostly businessmen who were also accountants and members of the professional bodies) stressed the need for a unified profession (i-no-47; i-no-15) and they saw themselves as important players in the standards setting process (i-no-2; i-no-3; i-no-15).The perception amongst the business community was clearly that accounting standards should facilitate business, and that the accounting profession's role was to serve the business community. There was unanimous agreement that accounting Accounting standards should not be the monopoly of the accountants and that the standard setting profession should not be left to regulate standards because of vested interests in Malaysia (i -no-12; i-no- 52). The community respondents emphasised the ethical foundations of the profession.There was still a sense of â€Å"respect† accorded to the profession. In 373 particular, the moral obligation associated with being accorded the status of a profession was emphasised by such respondents, who further saw the involvement of the state in accounting regulation as being limited to achieving socio-political goals. Some respondents held that the MIA was set up to partly ensure the New Economic Policy objectives were met in terms of ethnic composition of professionals.Their feeling was that the state should be involved in the development of the profession as a whole, but at the same time they supported self-regulation. A clear message comes through from the analysis of the perspectives of the four groups. The state respondents had become aware that the profession had internal conflicts and vested interests. They gave the impression that although the state might have an i nterest in the development of the profession, they preferred to keep an eye from a distance.That is, division within the profession had not seriously disrupted the commitment of state agencies to corporatism. The profession and market respondents were also aware of the internal struggles and conflicts and therefore wanted to be actively involved in the regulatory process. However, the community respondents, whilst acknowledging conflict within the profession, preferred to hold onto the notion that â€Å"the profession knows best†. To summarise: the internal conflicts and tensions within the profession impacted on the standard setting process.The MIA, the national accountancy body with the advantage of being formally constituted as the accounting player in corporatist arrangements, became a problem for MACPA when the MIA was reactivated in 1987. Because of the close links between MACPA and the Big Six, the MIA's adoption of an active stance was a threat to the Big Six and the foreign accountants employed by them. MIA, representing quite different constituencies, became a vehicle through which small, indigenous firms could become involved in standards setting.In particular the authority inherent in corporatism gave the MIA constituents the opportunity to usurp the authority of their MACPA counterparts in an important arena of professional activity. It was precisely the Goodwill Standard that provided the first opportunity to exercise that authority. However, the respondents' comments indicate that the struggle between MIA and MACPA was conditioned by and a function of the authority of other powerful players, for example the state and, most particularly, the business sector, as will be shown below.Accounting for goodwill: analysis of discourses Analysis of responses to question 6 (in Appendix) is discussed in this section. The question was: â€Å"What are your feelings about the Goodwill Standard issue? † AAAJ 12,3 374 The aim in this section is not to validate or dispute these claims but rather to draw attention to the conceptions of â€Å"interest† they reveal. The issues raised fall into three categories: (1) those concerned with the technical and professional rivalry; (2) those concerned with socio-economic consequences; (3) those concerned with the need to study the problem in relation to the specifics of the Malaysian environment.Concerns about technical and professional rivalry An MIA Council member (i-no-58) believed the Goodwill Standard was objected to because it was perceived that MIA was trying to lead the world. The respondent admitted there was a lack of understanding of the issues: F F F in fact the FPLC people were with us too. The secretary was surprised that amortisation of goodwill you can still pay out dividends. It is just at group consolidation only. Just affects group accounts  ± does not affect the companies' accounts †¦ There was a lack of understanding of accounting.Because everybody tho ught that goodwill here is mostly brands, patents and those sort of things  ± we are not talking about that  ± it is just goodwill on consolidation. This position focuses on the impact of MAS 6 on dividend policy. Opponents of the standard  ± even the FPLC, cited here in support  ± later criticised it on the basis of its socio-economic consequences. As well as illustrating further the shifting of positions throughout the goodwill controversy, the MIA Council member's statement could be seen as part of the MIA's concern with technical purity.Those arguing on the basis of generally accepted accounting principles also supported the implementation of the standard because the amount of reported goodwill was rising as intercorporate acquisitions proceeded; hence the need to implement a standard (i-no-20; i-no-42; i-no-33). Another argument used by the proponents of MAS 6 (especially the MIA Council) was that the standard, apart from allowing a longer maximum amortisation period (2 5 years instead of 20), was similar to overseas standards and therefore should apply to Malaysia. However, it appears that there were other concerns as well.In particular, the then Chairman of the MIA Standards Committee recounted: I was Chairman  ± I had no role in so far as structuring the Goodwill Standard  ± I was chairman of the committee which passed a resolution to say â€Å"we adopt it† and recommend the Council to adopt it †¦ We were not concerned with the technical aspect of the Goodwill Standard †¦ were concerned with the administrative aspect and I did an administrative role  ± MIA can't be subservient to MACPA (i-no-8). The link between professional rivalry and standard setting is apparent here.Socio-economic and political issues Opponents of MAS 6 attacked the MIA's technical arguments. Those concerned with the socio-economic consequences argued that the accountant's concept of goodwill is merely a meaningless balancing figure, the result of an a ccounting treatment which produces meaningless information (i-no-2; i-no-3, i-no-15). In Accounting 1992 Price Waterhouse circulated a document to clients which stated: standard setting The proposals as set out in the exposure draft on accounting for goodwill would, if adopted, have a major impact on the earnings record of many Malaysian Groups.We, therefore, encourage you to consider the proposals carefully and write to the MIA and MACPA (Price Waterhouse, 1992). in Malaysia 375 Soon after, the FPLC produced a memorandum (1993, p. 8) which claimed that MAS 6 â€Å"ignores business and economic realities†. Echoing the Price Waterhouse position, it claimed that goodwill amortisation reduces postacquisition earnings and is a disincentive to businessmen and entrepreneurs who assume significant risks in their investments, thereby discouraging the growth of companies through mergers and acquisitions (FPLC, 1993).A practitioner from a Big Six firm simply said â€Å"there is a broa der picture to it† (i-no-19). Another respondent expanded on this broader picture: F F F we are arguing that we are in the stage of experiencing growth and therefore, it might be too early to adopt the goodwill standard as it might have a severe impact upon the profit of listed companies (i-no-20). Other opponents also made similar arguments, adding that goodwill amortisation would, in the absence of associated tax relief, hamper development of capital markets through its impact on reported earnings.The other concern expressed was that Malaysian companies would be placed at a competitive disadvantage by the standard. A practitioner from a Big Six firm explained: F F F they actually said †¦ â€Å"look †¦ why don't we just ride for a while †¦ first, given that IAS 22 was then under revision †¦ let us look where, which direction they are moving and when that standard comes we can look at our standard, I think also looking at UK, there isn't a need †¦ why should Malaysian companies be put at a competitive disadvantage? ‘ (i-no-33). Another respondent (an analyst) remarked: F F F some of us are able to see beyond accounting policies  ± the significance of it †¦ if you are really looking at the economic worth of the company, you know that whether you write off goodwill over 40 years or one year or whatever, the economic worth of the company is the same †¦ it is just an accounting policy (i-no-11). In the analyst's view greater discussion should have ensued among the various interest groups on the economic consequences of the standard.The â€Å"economic consequences† discourses cited here indicate how the interests of the corporate sector were now being constructed and represented through a vision of commercial reality standing in contrast to the arcane technical discourses of accountants[21]. Whatever the validity of these claims, the interests of the sector were now firmly embedded in debates about standard s etting. Consideration of the specific nature of the economy Some respondents appealed for a consideration of the specific nature of the Malaysian economy, pointing out that Malaysia was a developing economyAAAJ 12,3 376 with particular state policies in place. The result was a unique socio-economic context that required consideration before any standard on goodwill was imposed. For example, a former banker pointed out that it was the peculiar regulated environment in Malaysia that created huge goodwill accounting numbers, some portion of which might be represented by identifiable intangibles. MAS 6's amortisation requirements were problematic because they did not acknowledge that Malaysia was different: F F F my concern now is the user †¦ ow I am on the other side †¦ when I look at some standards, I say, it is not practical †¦ then I would have to structure the business deals in such a manner so I can overcome this problem †¦ For example, the goodwill issue †¦ you are going to have a lot of problems †¦ one of which is the peculiarities of listing in the country  ± because in Australia, you can go up and get the cost of listing, say $250,000 and merchant bankers fees, that is it.In Malaysia, because of the restricted nature and a premium allowed for listing  ± there is a value  ± sometimes if it is a loss-making company, there is a bigger value  ± so, you actually have this value concern that is there †¦ is being created because of the supply and demand †¦ may be until such a time as the premium drop (i-no-3). A corporate director, also involved in the standard committee, made a similar observation: F F F maybe in a developed country like the UK and Australia and all that †¦ ot much goodwill paid anyway when you acquire a company because their markets are very matured, their businesses are very matured, so maybe their purchase price is very close to their NTAs, but in a country like Malaysia, where there is h igh growth and lots of growth prospects, very often the valuation is on the basis of price-earnings capabilities and on that basis, you find that a high portion of the purchase price is in goodwill, the NTA is actually very low but the value of it is in the licence.If you took over Genting (the only Casino in Malaysia), for example †¦ the value is in the licence to operate a casino †¦ that is the main crux of the issue and it makes a lot of difference to the companies here because when you acquire other companies and you pay very high goodwill, obviously, you as a businessman, when you acquire it and you pay cash for it, unless you think it is really worth, why would you want to pay for it †¦ why should your accountant come and tell you it is not of value and depreciate it †¦I have got to write off $4 million a year for what? It is not necessary but because of your (the accounting profession's) insistence and your discomfort with goodwill as a concept, you arbitr arily ask me to write off $4 million a year and because of that my results get impacted by $4 million write-off and the public doesn't know  ± they don't understand the issues involved  ± so they think we haven't done well. That is the crux of it (i-no-2). The FPLC memorandum further supported the above views.In Malaysia, licences for activities such as banking, stockbroking, gaming and broadcasting are controlled and regulated. For example, no new banking licences have been or will be issued. Other licences are issued in a very restricted manner. The resulting scarcity leads to significant premiums being attributed to companies that hold such licences, more so than in developed countries that do regulate such industries but do not freeze the issuance of new licences (FPLC, 1993, p. 11).Therefore, the proponents of this view advocated that an accounting standard for goodwill should not be implemented in isolation from consideration of intangibles such as licences, brands, franch ises and trademarks. A member of the standards committee, being the technical manager of a Big Accounting Six firm, expressed a similar view: standard setting F F F in our environment, considering the regulated context F F F a developing country F F F there could be a need to kind of modify the standard in that light (i-no-42). in Malaysia 377 So did a technical consultant with a Big Six firm:There is a special case F F F because there are more special equity arrangements in Malaysia, whoever buys or sells a company F F F where there has been enormous amount of corporatisation activities F F F in the Malaysian accounts than in any other country in the world F F F it appears to be a reflection of the fragmented capital structure of the companies F F F when share price gets high F F F they like to cash in and try something else F F F whereas in the US, once a company has bought something F F F they tend to sit on it for a very long time F F F so it is wiped F F F Unless we push for a goodwill standard when the economy is good as it is now (early 1995)[22] (i-no-43; similar comments were made by a corporate executive (i-no-9)). A practitioner from the Big Six very much involved in the MACPA Standards Committees observed that: F F F in Malaysia, we pay excessively for companies that we buy.There again, can we say we are paying excessively when those prices that are paid are justified, when these prices that are paid are justified on relative low P/E ratios and those prices are vetted and allowed by the Securities Commission (SC)? The SC is not going to allow excessive pricing. I don't know whether developed countries are different from developing countries in that sense †¦ A country that is developing must be permitted or given a chance to develop. I am sure in the early days, the huge goodwill that was paid to US or European companies were not written off or amortised. But there came a point in time, through inflation and all that, over the years  ± those huge goodwill came to nothing.There could very well come a point of time where the half billion goodwill paid by Malaysian companies, 30 years down the road, the half billion still left in the books  ± it is so insignificant  ± the directors will write it off in one year (i-no-6). What this illustrates is that MACPA-linked practitioners and market respondents were more attentive to the implications of MAS 6 for the corporate sector than the MIA committee composed of non-Big Six personnel. The market respondents expressed concern that the profession (meaning the MIA) could not be expected to consider the socio-political implications of a standard, focusing instead on technical or theoretical considerations. That MACPA would not feel bound by such considerations is hardly surprising as a majority of the publicly listed companies are audited by the Big Six[23].Analysis of respondents' attitudes to MAS 6 further highlights the hostility of the MACPA/Big Six camp to MAS 6, as seen in Tables IV and V. Views on MAS 6 For Against No comments Total MACPA 0 21 12 33 MIA 6 2 6 14 Non-accountants 2 1 15 18 Total 8 24 33 65 Note: â€Å"Non-accountants† includes all respondents who were neither members of the MACPA or MIA Table IV. Respondents' views on MAS 6, highlighting MACPA/MIA differences AAAJ 12,3 MAS 6 received no support at all from MACPA or the Big Six. A significant majority of MIA people supported the standard; the non-Big Six firms also supported it, but only marginally[24]. The views of non-accountants were also more evenly divided than those of the MACPA/Big Six camp. `Interests† and the politicisation of standard setting Previous sections have already implied that standard setting in Malaysia became politicised over the course of the goodwill saga. This development was widely appreciated by the participants themselves and is explored in more detail below. The key point is that by the 1990s, the corporate sector was being taken very seriously , even by influential players within the profession. For example, one respondent from the Big Six noted: F F F basically, you have to know what the world is like in real terms †¦ whether businesses will adopt it freely, happily or not. Something which is good during a rising market will not necessarily be good during a falling market.So, this idea of accountants that anything you adopt should be consistent is an easy concept for certain things and to be realistic the consistency should be under certain circumstances of the market. Otherwise, you can make a rule over action, other people are not happy to abide by it, so people find arguments not to do it (i-no-34). 378 There was unanimous agreement among Big Six standard setters that business's wholehearted acceptance was crucial. Furthermore, the state was expected to acknowledge, or at least be aware of, this very point. A practitioner from a medium-sized firm said: Certainly, it is not racial politics  ± it is more governme nt in being democratically elected †¦ ust listen to people who have vested interest to protect and the government thinks their interest is more important than accountants  ± the accountants have no interest except they have a formalised way of doing things and since they have formalised a way of doing things, there is commonality in dealing with particular issues. Accountants do not gain or lose by implementing the standard  ± accountants can say because we have this standard, we know the financial statement would have some common feature F F F Otherwise you see goodwill going up and up all the time (i-no-8). The political nature of the standard setting process is evidenced by the lobbying activities carried out after MAS 6 was adopted by the MIA.Respondents felt that the state was more attentive to the big business lobby Views on MAS 6 For Against No comments Total Big Six 0 15 4 19 Non-Big Six 3 2 7 12 Others 5 7 22 34 Total 8 24 33 65 Table V. Respondents' views on MAS 6 , highlighting Big Six/Non-Big Six differences Note: â€Å"Others† includes MACPA/MIA members who had moved out of public practice. The MACPA respondents who had no comments had not been involved in the goodwill accounting discussions than to accounting principles. One saw the state's stand as â€Å"protecting the Accounting interest of certain parties against others† (i-no-58). standard setting Arguing interests As indicated above, the goodwill controversy underlined the segmentation of the Malaysian accountancy profession over time, under pressure from st