Security Fraud and Manipulations Using Accounting Policies and Rules Dissertation

Security Fraud and Manipulations Using Accounting Policies and Rules - Dissertation Example More importantly, a wide variety of security fraud and malpractice of accounting policies are employed in the preparation of the financial report accounting of Enron, Madoff scheme, and WorldCom Corporation that lead into their bankruptcy. Nonetheless, the Securities Exchange Commission (SEC) seeks to deter fraud in financial statements of companies through laws, internal control systems and regulations. More significantly, the commission continuously seeks to detect misstatements, failure of disclosure of accurate financial information in records, documentation, accounting policies and procedures in changes of equity and explanatory notes accompanying every financial period statement of companies. In addition, this paper will look at the adherence to the International Financial Reporting Standards (IFRS) as stipulated by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) remains committed towards global standards. Finally, the pap er looks at various fraudulent situations that could be avoided through adherence to stipulated accounting policies and procedures by management, accountants and auditors as they put shareholders interest first. ACKNOWLEDGEMENTS I would like to express sincere gratitude to my dissertation supervisor, xxx, for his invaluable support. As an area of accounting and auditing practise, I hope you find this paper insightful in the minimization of security fraud and manipulation practices. Tables of Contents 1. Introduction 6 2. Literature Review 7 3. Research Methodology 16 4. Discussion of Findings 18 4.1.0 Nature and treatment Of Security Fraud &manipulation through fraudulent use Of accounting policies and rules 18 4.2.0 Security Fraud and Manipulation in Madoff scheme, Enron & Worldcom Corporation 23 4.3.0 Security Fraud and Manipulation Problems in Madoff Scheme, Enron and Worldcom Corporation 27 4.4.0 Comprehensive Analysis of Parties involved in the carrying out of Security Fraud an d Manipulation 33 4.5.0 Regulation of Security Fraud and Manipulation in Madoff scheme, Enron and WorldCom Corporation 39 5. Conclusions 43 6. Appendix 45 6. References 47 CHAPTER 1.0 INTRODUCTION More than often, fraudulent financial information given in companies financial statement typically takes the form of material misstatements done intentionally by making either the annually or quarterly financial statements fluctuated. In most cases, auditors acknowledge that financial statements are intentionally misstated such that the information provided remains not only misleading, but also inaccurate, such that the presentation of financial reports does not follow the generally accepted accounting practises (GAAP), international auditing standards (IAS) and international financial reporting standards (IFRS). More so, such security fraud and manipulation through the use of fraudulent accounting policies and rules in international corporations like Madoff scheme, WorldCom and Enron led to a huge loss as a result of fraud upon

Topic of your choice but i have a request can you send your topic Essay

Topic of your choice but i have a request can you send your topic choice by thursday a.m. I have to turn in topic thursday in c - Essay Example Excited and enthusiastic would describe my mood at the time of assessment. My first task was to test my endurance and meant that I had to run two kilometers in twenty-five minutes. Me run! My enthusiasm for fitness instantly decreased by 30% upon visualizing myself running around the block in the midday sun, dying for water and collapsing less than half way around. Nevertheless, once I realized I would be running on a treadmill I decided to give it a go. I felt quite pleased with myself to start and thought that the task would not be so difficult after all. After ten minutes however, I was not going as fast as I needed to finish the length in the allotted time, so the speed was increased. That was the end for me. I had to stop. I felt my heart was in my mouth and if I took one more step I would send it into oblivion. Strength was the next assessment area, and after composing myself from the endurance catastrophe I keenly ventured into my next venture, for after all I considered mysel f to be quite strong and able to lift a few weights. My enthusiasm instantly nose-dived by a further 50% on finding that I was not lifting weights but doing push-ups and sit-ups.

Analysis of Child Immunisation Programmes

Analysis of Child Immunisation Programmes Introduction Child immunisation programmes rank highly among the most successful public health interventions and are believed to have contributed substantially to the overall increase in life expectancy observed during the 20th century (Gellin et al. 2000). Global immunisation coverage has increased considerably since the introduction of the WHO Expanded Programme on Immunization in 1974. It is estimated that twenty million deaths have been prevented through immunisation over the past twenty years (Tickner et al. 2006) and many vaccine-preventable diseases such as diphtheria, tetanus, measles, mumps, rubella and polio are now rare in developed countries (Bardenheier et al. 2004). However, in countries including the UK, there are fears that immunisation programmes may have become victims of their own success. Low prevalence rates of vaccine-preventable diseases have led to public belief that these diseases no longer pose a serious health risk, while concerns over the safety and side effects of vaccines are now greater than those relating to the diseases these vaccines were designed to prevent. The past thirty years has seen continuing controversy over vaccine safety. Concerns over the whole-cell pertussis (whooping cough) vaccine were first raised during the 1970s following a study which reported severe neurological complications in children following immunisation with DTP, a combined vaccine for diphtheria, tetanus and pertussis (Kulenkampff et al. 1974). Controversy surrounding the measles, mumps and rubella (MMR) triple vaccine followed in the early 1990s after widespread reports suggested a link between this vaccine and both autism and bowel disease. In a study of 12 children referred to a paediatric gastroenterology unit with concurrent developmental regression and gastrointestinal problems, nine developed autism. The parents of 8 of these children associated the onset of their condition with MMR vaccination (Wakefield 1998). While more recent research has shown these fears to be unfounded (Peltola et al. 1998; Taylor et al. 1999), some parents remain unconvinced and vaccine uptake has fallen across the UK, with decreases in MMR uptake of up to 30% in some regions. Declining vaccine coverage rates are also linked to disease outbreaks. A 30% drop in uptake of the pertussis vaccine was recorded following extensive adverse media publicity in 1974 (discussed previously), which was then followed by an epidemic of pertussis (Vernon 2003 ). Similarly, since the decline in MMR coverage, outbreaks of measles have been reported in a number of European countries including the UK, Ireland, Germany, Italy, Denmark and the Netherlands (Department of Health 2004). Suboptimal vaccine uptake has also been reported for other vaccines including diphtheria, tetanus and polio (Tickner et al. 2006). Although the trend for decreased vaccine uptake appears to be reversing in recently years, many Primary Care Trusts (PCTs) in England are still failing to reach the 95% uptake target recommended by the WHO, which is essential to achieve ‘herd immunity’, i.e. where a sufficiently high proportion of the population is immune to a particular disease, thereby preventing transmission of the infectious organism (Health and Social Care Information Centre 2005). For example, data collected in 2004–2005 demonstrated an MMR uptake of 81% across England, a 1% increase on the previous 8-year period. It should be also noted that considerable regional variations were observed, with rates below 70% by some PCTs (Henderson et al. 2008). Immunisations frequently require multiple doses for maximum disease protection. Between 5–10% of children remain unprotected after the first dose of the MMR vaccine, whereas this is reduced to below 1% after the second dose (Tickner et al. 2006). However, there is evidence of poor compliance with childhood immunisation schedules. A study involving a cohort of 18,819 infants in the UK reported that 3.3% were partially immunised, compared with 95.6% of fully immunised infants (Samad et al. 2006). In the UK, statistics show that among children who reached the age of 5 years in 2004-2005, uptake levels of the primary immunisation of diphtheria, tetanus and polio vaccine plus the pre-school booster vaccination were 14% lower than those of the primary immunisation alone (Health and Social Care Information centre 2005). Similarly, uptake of the first and second doses of the MMR vaccine was 16% lower than the first dose alone. This pattern of poor compliance has also been observed in other countries including Sweden and Australia (Heiniger and Zuberbuhler 2006; Ferson et al. 1995). In order to maximise vaccine coverage rates, a full understanding of the factors affecting vaccination uptake and compliance is required, both to identify and address existing unmet needs and to develop and implement effective health promotion strategies. In the case of childhood immunisation, it is also important to consider how parental knowledge, attitudes and beliefs may influence decision-making regarding immunisation. The aims of this review are to explore those factors associated with low rates of vaccination uptake in children and poor compliance with immunisation schedules, with particular emphasis on the knowledge, attitudes and concerns of those parents who decide not to immunise their children. The specific objectives are to perform a search to identify relevant published literature, critique selected articles using an appropriate conceptual framework, and discuss the relevance and implications of the findings of this research. Overview [Client: this section isn’t really an overview, more background material – you may therefore wish to consider re-naming this as ‘Background’] Public health within the UK Public health may be defined as â€Å"the science and art of preventing disease, prolonging life, and promoting health throughout the organised efforts of society† (Acheson 1988). Public health services within the UK cover a broad range of areas which include general health (e.g. issues such as obesity, smoking and blood pressure), environmental health (e.g. food hygiene and pest control) and disease. The NHS national immunisation programme which focuses on childhood immunisation against diseases including tetanus, diphtheria and polio forms a key component of public health provision within the UK (NHS 2007). The public health system comprises a number of core functions which include the health surveillance and monitoring the health status of communities, identifying health needs, developing disease screening and prevention programmes, managing health promotion, and evaluating the provision of health care (Department of Health 2008). Principles of immunisation [Client: I’ve assumed a detailed knowledge of immunity is already held and have therefore kept this section brief] Immunisation may be active or passive. Whereas passive immunisation provides short-term protection, active immunisation also known as vaccination induces protective long-lasting immunity. Active immunisation involves the administration of an antigen which elicits an immune response similar to that which a naturally-acquired infection (Robinson and Roberton 2003). This response results in the development of immunological memory and is achieved through the activation of both T and B cells, which produces a high yield of memory cells which, after initial exposure, are able to recognise a particular antigen again in the future. Active immunisation can be performed using live or killed whole organisms, components of organisms such as subunits, or fractionated or recombinant (manufactured) vaccines (Robinson and Roberton 2003). Importance of immunisation programmes Immunisation programmes play a key role in the control of infectious disease. Disease-related morbidity and mortality places a substantial burden on healthcare systems and preventing individuals from becoming ill is more favourable in terms of healthcare-associated costs than treating them once they are ill. Immunisation has a direct effect by offering protection to the immunised individual and an indirect effect by reducing the incidence of disease among others, (i.e. by providing herd immunity) since vaccinated individuals are less likely to act as a source of infection, unvaccinated individuals have less chance of being exposed to that infection, thus vaccination also benefits the community (ScotPho 2008). If vaccine coverage rates are high enough to induce high levels of herd immunity within a population, it is possible for a disease to be eradicated, as illustrated by the global eradication of smallpox in 1980. However, if high coverage rates are not sustained, the disease coul d return. Immunisation programmes may be aimed at children, adolescents or adults. Routine immunisation against measles, polio, diphtheria, tetanus, pertussis and tuberculosis is now provided in all developing countries but many countries also include a wider range of immunisations against influenza, mumps (usually in combination with measles and rubella) and predominant strains of pneumococcal disease (WHO 2005). In addition, hepatitis B immunisation is also recommended by WHO for all countries, while Haemophilus influenzae type b (Hib) is recommended for those countries with a significant disease burden and who have sufficient resources (WHO 2005). UK childhood immunisation programme The UK immunisation programme for children and adolescents from birth to the age of 18 years is shown in Table 1 below. Each vaccination is administered as a single injection into either the thigh or upper arm. The use of combination vaccines is advantageous in reducing the number of injections administered. For example, children in the UK receive only 7 vaccinations before the age of 15 months, instead of the 21 single-antigen injections they would otherwise receive. In the US, children receive up to 21 injections by the age of 15 months (CDCP 2006). Vaccinations are not mandatory in the UK and are offered free of charge by the NHS. This is in contrast to countries such as the United States and Australia where vaccination is compulsory (Salmon et al. 2006) and proof of immunisation is required for school entry (Vernon 2003). However, despite the lack of a mandatory immunisation policy, coverage rates in the UK are still high compared with many other developed countries, although the current levels of MMR coverage are cause for concern. Table 1. UK childhood immunisation programme (from NHS 2007). When to immunise Diseases protected against Vaccine given Routine immunisation Two months Diphtheria, tetanus, pertussis (whooping cough), polio and Haemophilus influenzae type b (Hib) Pneumococcal infection DTaP/IPV/Hib + Pneumococcal conjugate vaccine Three months Diphtheria, tetanus, pertussis, polio and H. influenzae type b (Hib) Meningitis C DTaP/IPV/Hib + MenC Four months old Diphtheria, tetanus, pertussis, polio and H. influenzae type b (Hib) Meningitis C Pneumococcal infection DTaP/IPV/Hib + MenC + PCV Approx. 12 months H. influenzae type b (Hib) Meningitis C Hib/MenC Approx. 13 months Measles, mumps and rubella Pneumococcal infection MMR + PCV Between 3 years 4 months and 5 years Diphtheria, tetanus, pertussis and polio Measles, mumps and rubella DTaP/IPV or dTaP/IPV + MMR 13–18 years Tetanus, diphtheria and polio Td/IPV Non-routine immunisation At birth (to babies who are more likely to come into contact with TB than the general population) Tuberculosis BCG At birth (to babies whose mothers are hepatitis B positive) Hepatitis B Hep B Literature review A literature search of English language articles was performed using the electronic databases Pubmed and CINAHL. Search terms included: immunisation OR vaccination plus uptake OR compliance OR parent AND belief OR attitude OR knowledge. A number of conceptual frameworks have been developed for use in the critique of both quantitative and qualitative research (Cormack 2000). In this paper, the framework proposed by Cormack (2000) was employed both in the initial selection of relevant, high-quality research articles and in the subsequent critique of those articles. The use of evidence-based practice is necessary to provide high-quality healthcare, and it is therefore essential that all healthcare providers possess the understanding and expertise to review and evaluate published research. By following Cormack’s framework, an informed judgement can be made regarding the findings of a particular research article and their relevance and implications for practice. A total of 8 articl es, including both quantitative and qualitative research, were selected for this review. The article by Gellin et al. (2000) describes a telephone survey study conducted in the United States which investigated parents’ understanding of vaccine-preventable diseases and immunisation practices and procedures. The article abstract is concise, informative and presents the main points of the study in a clear and easy to understand way. The introduction provides the relevant background information needed to set the study in context and clearly states the aims of the research. Study participants were recruited via random digit dialling which is a widely accepted method of ensuring selection of a random population sample. The selection criteria are stated and the study sample size (n=1600) was large enough to yield a confidence interval of  ±2.5% for the population overall. The survey was conducted using by trained market researchers using a pre-tested scripted interview but a full list of the questions is not provided in the article, nor is the script included as an app endix. Further, no mention is made of ethical considerations such as confidentiality or the right to withdraw participation. The statistical analyses used to analyse the data are described fully. The results section of the article is well structured and clear with appropriate use of tables to present data. However, for additional clarity, it may have been better to present the demographic characteristics of the study respondents in a table rather than as a list of percentages in the main text. Results showed that 87% of study respondents believed immunisation to be extremely important and believed there to be a high level of overall vaccine safety (X2=8.6; standard deviation (SD)=1.6). Respondents were asked to state their level of agreement with a series of belief statements. Findings showed that while the majority of respondents held beliefs that were consistent with the available evidence on vaccine efficacy and safety, misconceptions were held by a substantial number of respondents. For example, 25% believed their child’s immune system could become weakened as a result of too many immunisations, while 23% believed that children got more immunisations than were good for them. Doctors were cited as the key providers of information on immunisation. The article includes a comprehensive discussion of the relevance of the study findings with reference to other published research and addresses the limitations of the study (e.g. only those households with telephone could be contacted via random digit-dialling and the inclusion of English-speaking participants only). A separate conclusions section is not included but the implications of the research are discussed in the context of the future of immunisation programmes and public health. The paper by Pareek and Pattison (2000) reports the findings of a prospective cross-sectional UK survey to investigate the factors which influence the intention of mothers to vaccinate their children with the two-dose MMR vaccine. The paper contains a well-structured abstract that present the main points of the study. The introduction is comprehensive with clearly stated aims and lists the theoretical framework used in the study (i.e. the Theory of Planned Behaviour). Study participants were randomly selected from confidential records held by Birmingham Health Authority, after written consent had been obtained. A total of 300 mothers of children aged between either 5-12 months or 21-35 months received a pre-piloted 48-item questionnaire with the assurance of confidentiality. The full questionnaire is not provided but a list of the three sections in the questionnaire is given. The response rate was 59%. A brief description of the statistical analyses used to analyse the data is given. The results section is unstructured making if difficult to read but is comprehensive in nature. No figures or tables are included. Results showed that significantly fewer mothers intended to take their children for their second MMR immunisation (Group 2), compared with the number intending to take their child for their first immunisation (Group 1) (Group 1: 87% vs Group 2: 78%; p Kennedy et al. (2005) reported the findings of an analysis of data from the 2002 annual, mail panel survey of adults in the United States performed to examine the socio-demographic factors and immunisation beliefs/behaviours associated with parental opposition to compulsory vaccination. This article contained a brief abstract which nonetheless detailed the key points of the study but did not list the number of study participants. A comprehensive introduction is included with extensive reference to other published research and the aims and objectives of the study are given, together with the model used (i.e. the Health Belief Model). The method of study participant recruitment is described but this is confusing and difficult to follow. In summary, a total of 6,027 adults received surveys with a response rate of 73%. However, these individuals were not selected randomly. The questions in the survey are not listed and a copy of the questionnaire is not included. However, responses to relevant beliefs statements are listed in a table in the results section, which provides the reader with some insight into what was included. No mention is made of ethical considerations. The statistical analyses used are described adequately. The results section is clear and well-structured with tabulation of relevant data. Study findings showed that 12% of respondents were opposed to compulsory vaccination. Compared with parents who were supportive of compulsory vaccination, those who were opposed were significantly more likely to agree that the ‘the body can protect itself without vaccines’ (opposed 24% vs supportive 10%; pvs 17%; pvs 32%; pvs 13%; p Sporton and Francis (2001) performed a study to explore the decision-making process of parents who have chosen not to have their children immunised. Their paper contains a very detailed abstract which describes the study in detail. A short introduction sets the study in context and includes the rationale for performing the study, with a clearly stated aim. The selection of the 13 final study participants (12 mothers and 1 father) is described in detail and details of ethical approval are included. Semi-structured interviews were used to gather information, a widely accepted method in qualitative research which allows the researcher to be guided by the study participant while still allowing key points to be covered. All interviews were conducted by the same researcher, thus ensuring consistency. Although all interviews were transcribed, no mention of consent or other ethical considerations is made in the paper. The results section has a clear and logical structure with a relevant table and figure. Narrative accounts from the study participants are also included within each section. Findings showed that while parents often cited more than one reason for choosing not to immunise their children, the risk of side effects, particularly long-term effects, was identified as a reason by every parent. Other reasons included moral reasons, alternative methods of protection (e.g. homeopathy), practical reasons (lack of access to clinics) and personal parental experiences of immunisation (e.g. lack of immunisation has not resulted in any adverse effects on their own health). Many parents believed that healthcare providers did not provide balanced information and were unwilling to acknowledge the perceived association between immunisation and adverse effects. The discussion makes very limited reference to other published research an fails to address the limitations of the study (i.e. the extremely limit ed sample size and the extreme bias towards mothers). The conclusion and discussion of implications for the future are brief but adequate. In their recently published article, Pearce et al. (2008) report the findings of a nationally representative UK cohort study performed to estimate uptake of the combined MMR and single-antigen vaccines and explore the factors associated with uptake. This article contains a comprehensive abstract which includes a detailed results section, while the introduction discusses previous research that supports the purpose of the current study. Data from a longitudinal study of 14,578 children born in the UK between 2000 and 2002 were used in this analysis. These data were obtained via face-to-face interviews between trained researchers and the main care giver (usually the mother) conducted at home when the child was approximately 9 months old and again at the age of 3 years but no mention is made of whether consent was obtained from participants. The study sample included adequate representation from all 4 countries within the UK including those from deprived areas and ethnic minorities. A de tailed description of the analysis performed is provided in the paper. Results showed that 6.1% of children in the study were not immunised and that various socio-demographic factors were associated with immunisation uptake. For example, children were less likely to be immunised if they lived in a household with other children or a single parent; if the mother was aged 34 years at the time of the birth; or if the mother was more highly educated, unemployed or self-employed. Ethnicity was also strongly associated with single-antigen vaccine uptake. Almost three quarters (74.4%) of parents who had not immunised their children stated that they had made a conscious decision not to do so. The discussion section addresses the studies strengths (e.g. the large sample size) and limitations (e.g. using maternal report of immunisation status in which only one fifth of participants actually checked their child’s health record) and compares the findings with that of previous research. The implications for future practice and policy-making are discussed in de pth with recommendations and appropriate conclusions have been drawn. Gust et al. (2004) conducted a case-control study in the United States to examine the attitudes, beliefs and behaviours of parents whose children were incompletely immunised, compared with those of fully immunised children. This article includes a well-written abstract that provides the reader with all the relevant information about the study. The introduction refers to existing research and clearly identifies the study’s aims. Both case and control study participants were randomly sampled from children participating in the National Immunization Survey (NIS) and who had adequate provider-reported immunisation data. Case participants were those children who were incompletely immunised with respect to ≠¥2 of diphtheria-tetanus-pertussis (DTP)/diphtheria-tetanus-acellular pertussis (DTaP), hepatitis B and/or measles-containing vaccine (MCV) vaccines (‘incompletely immunised’ defined as The results are presented in a structured, logical way which includes tabulation of the data. Findings showed that among case subjects, 14% of incomplete immunisation was due to parental beliefs, attitudes and behaviours. It is interesting to note that while these beliefs are more common among parents of incompletely immunised children, the parents of fully immunised children also report similar beliefs and attitudes. Parents/guardians of case subjects were more likely not to want their child to receive all immunisations, to rate immunisations as unsafe or somewhat safe and to ask the doctor or nurse not to administer a vaccine to their child for reasons other than illness. The discussion section of this paper is comprehensive but makes limited reference to other published research but the limitations of the study are addressed (e.g. potential inaccurate reporting of beliefs and attitudes through inaccurate recall, due to the length of time since their children were vaccinated). Valu able recommendations are made, together with information to guide the reader to the source of potentially useful educational materials for both healthcare providers and parents. A UK focus group study conducted by Evans et al. (2001) investigated what influences parents decisions on whether to accept or refuse primary MMR vaccination. This article contains a comprehensive abstract that informs the reader about the key points of the study. The introduction is brief but states the study aims. Six focus group discussions (a commonly used method of gathering qualitative data) were held, which were conducted by a moderator using appropriate open-ended questions which are described in the paper. Assistance was provided by a member of the research steering group, thereby ensuring consistency across the groups. A total of 48 participants were recruited purposefully rather than randomly, such that three of the groups contained ‘immunisers’ and three contained ‘non-immunisers’, from a variety of socio-economic backgrounds. Ethical approval was obtained for the study. The methods section describes how data collected was analysed and sorted int o themes. The results section of the article is easy to understand and includes narrative accounts from study participants within each section. All parents who participated in the study believed the decision about whether to vaccinate was difficult and felt under undue pressure from healthcare providers to comply. Four key factors were found to influence parents’ decisions: (1) their beliefs about the risks and benefits of the MMR vaccine and compared with the risk of contracting those diseases; (2) information on the safety of the MMR vaccine; (3) trust in healthcare providers about the accuracy of the advice they had given and attitudes towards this advice; and (4) views on the importance of individual choice. The paper contains a balanced discussion which refers to other published research and includes both recommendations for practice and the limitations of the study (i.e. that over half of study respondents were highly educated, with a mean age of 35 years), and appropriate conclus ions are drawn. Flynn and Ogden (2004) conducted a prospective questionnaire study in the UK to explore which parental beliefs are the best predictors of MMR vaccine uptake. Their paper contains a short abstract which nonetheless details the key points of the study. The introduction to the paper refers extensively to other published research and presents a strong rationale for the study with clearly stated aims. Study participants (n=511) comprised parents whose children were due to receive an invitation for MMR vaccination. A questionnaire was used to gather data, together with additional follow-up data taken from child health records. The various sections within the questionnaire are described in the paper, together with examples of typical questions within each section; however, a copy of the questionnaire is not included. A response rate of 56.9% was recorded. Ethical approval for the study was obtained which also complied with the Data Protection Act. The method used for data analysis is descri bed

Censorship and Selection Essay -- self-censorship

Introduction Censorship is a dirty word to information professionals. Attempts by individuals or groups to restrict the public from reading, hearing or viewing certain materials due to their content, is enough to send librarian's and organizations such as the American Library Association, to the proverbial battle field. However, information professionals from all fields have to make choices about what to include and what not to include in their particular library's collection. How are these selections made? What causes one item to be selected instead of another? The distinction between censorship and selection is infinitesimal, dependent mainly upon the role of the individuals involved. As an information professional, who inherently is charged with the responsibility to protect the rights of the public to have free access to materials, much care must be taken in the selection of materials. By evaluating the collections, by carefully examining what deeply held beliefs we have, and by carefully a dhering to selection policies, information professionals can guard against allowing personal bias influencing selection decisions. What Is Censorship? Censorship can take many forms, but it inherently leads to an individual or group attempting to restrict access to materials. Jenkinson (2002) defines a censor as someone who â€Å"begins with a list of negatives or 'no-no's' and then seeks to identify whether any of these 'taboo' words, subjects, themes or attitudes are present in an item† (p. 22). Irregardless of the context, a censor then seeks to either have the item removed, or not acquired at all. (Jenkinson, 2002, p. 22). Censorship can take place in a visible manner, such as a parent or group challenging a book. However, a far more... ... Hill, R. (2010). The problem of self-censorship. School Library Journal. (27)2. p. 9-12. Kidd, K. (2009). â€Å"Not Censorship but Selection†: Censorship and/as prizing. Children's Literature in Education, 40(3), 197-216. doi:10.1007/s10583-008-9078-4 Mazer, Norma Fox. (1997). Shhhh! The ALAN Review. (24)2, 46-48. Retrieved from http://scholar.lib.vt.edu/ejournals/ALAN/winter97/w97-10-Censorship.html McMenemy, D.   (2008). Selection and censorship: librarians and their collections.  Library Review,  57(5),  341-344.   doi:  1497848431 Staples, S. (1996). What Johnny Can't Read. The ALAN Review. (23)2, n.p. Retrieved from http://scholar.lib.vt.edu/ejournals/ALAN/winter96/pubCONN.html Van Kampen, Doris J., and Rose Spino. 2007. "Issues in the retention and selection of materials: Censorship and self-selection." Catholic Library World 77(3), 222-225.

The Crave for Companionship in of Mice and Men

â€Å"A guy goes nut if he ain’t got nobody. † None of the characters in Of Mice and Men experience true companionship. Discuss. The crave for companionship is a key theme present throughout John Steinbeck’s novella, Of Mice and Men. The great depression is no help when trying to find or keep friendships alive in the rural, country areas of America. George and Lennie depict what true companionship is all about when sticking together through thick and thin.Being the only black man living on the ranch, Crooks finds it hard to relate with others, finding himself separated from the other men. The relationship between Curley and his wife is merely just an unstable marriage that lacks true meaning and love. Desire in many forms is found throughout the novella but companionship is the main one as everyone can be lonely at times. George and Lennie’s companionship contrasts the loneliness that surrounds them on the ranch. Somehow the two men complement each other d espise the lack of compatibility between them.Lennie would call George a friend, but George would find difficulty to call him one back. â€Å"ain’t many guys travel around together† (Slim page 36) this is what Slim tells George when he finds out that he and Lennie travel together. The companions are in search of the American dream which is to own their own piece of land, â€Å"we'd have our own place where we belonged and not sleep in no bunk house† (George page 63) this would put George in control of finally keeping them out of trouble, especially Lennie.George is motivated to stay with Lennie because of his own guilt and the fact that he doesn't want to end up like everyone else on the ranch, alone. George knows that life without Lennie would be so much easier on himself and sometimes he wants the independence of not have to keep his eye on a grown man who has the mind of a child. Unfortunately their great friendship had to end with George killing Lennie. Alth ough it may have seemed to be George protecting himself it was largely to protect Lennie as Curley could have killed him in a more brutal manor.Crooks, â€Å"the negro Stable Buck† (page 66) seems to be the major outcast living on the ranch in Of Mice and Men. He lives in his own room, separated from the bunk house in â€Å"a little shed that leaned off the wall of the barn† (page 66). Crooks was â€Å"a proud, and aloof man† (page 67), bitter and hostile yet very intelligent and wise mainly because of the isolations he faces and his skin colour. When Crooks is faced with the solid figure of Lennie standing in his door way he attempts to lash out at him yelling â€Å"you got no ight to come in my room† (pages 67-68) displaying a large deficiency of communication and trying to indicate to Lennie to leave him alone. As Lennie is misguided by the messages Crooks is trying to send him he enters giving off no bad intentions so the black man lets his guard down . As the conversation carries on Crooks finds Lennie just sees him as another man working at the ranch. Curley's wife's want for friendship has altered her demeanour towards men on the ranch tremendously, making her overtly insecure and excessively flirtatious.The men on the ranch avoid her because of flirtatious personality to keep out of trouble. No one understands her situation and how loneliness affects her. Her insecurity is evident by the way she dresses and utilizes her make-up. She uses her appearance to receive attention like when â€Å"[Curley's Wife] was standing there looking in. She had full, rouged lips and wide-spaced eyes, heavily made up. â€Å"(Steinbeck 32). Curley's Wife feels she must dress this way for people to acknowledge her and give her attention.Her dressing-up is entirely unnecessary because they live on a farm and this is not the typical clothing. Curley does not give his wife enough companionship, love and affection that she desires. This makes her se ek it from other people whining to Lennie in the barn â€Å"Why can't I talk to you? I never get to talk to nobody. I get awful lonely† (page 85). By not talking to anyone and constantly worrying about what Curley will do, she has attained a slyness that does not appeal to anyone on the ranch.Acting in flirtatious ways is the only way Curley's Wife thinks she can deal with her aspirations for a friend. Every human needs a companion, a friend or acquaintance to share his or her thoughts and feelings with, that's what makes us all human. Unfortunately some of us are unable to have this desire that we all dream for, and especially during the depression friends were very scarce. Of Mice and Men shows the ups and downs of friendship, the good times as well as the bad and the limits a friend will go to, to save their friend from anguish.

Feminism in Macbeth

â€Å"Does Lady Macbeth Act Against the Stereotypes? † Why Lady Macbeth should appear weak when Macbeth is the one to blame for being guilty? Feminism and the breaking of some stereotypes are the major themes in Shakespeare’s play, Macbeth, as shown primarily through the character of Lady Macbeth. At first she is shown as a brave woman who is against the stereotypes and tries to access some male characteristics by forcing Macbeth to kill King Duncan, yet she hesitates in killing him herself, which reveals her innate weakness as a woman.After the death of Duncan, she feels a strong guilt over the murder of her husband’s victims which makes her sick and she becomes psychotic. Lastly, she reveals her inferior nature as a woman by committing suicide which is a proof of her weakness and the failure of acting against her nature. Lady Macbeth’s effort to access male qualities fails right after she convinces her husband to commit murder and her feeling of guilt le ads her to eventually commit suicide, which proves the stereotype and feminism in the play Macbeth.In this play, one of the major characters, Lady Macbeth, acts against her nature as a woman to assume male characteristics, in order to become the queen. When she receives a letter from Macbeth that says he is willing to kill King Duncan, she talks to the spirits in her mind and says: â€Å"Unsex me here/ and fill me from the crown to the toe/ top full of direst cruelty! † (1. 5. 46-49). In fact she wants the spirits to strip her of her feminine traits, make her strong, and let her commit a crime without regretting it in the future.With all of these dark thoughts that she has in her mind, she still tries to act nice and compassionate in the public, so that nobody can realize what plans they have. Macbeth also wants her to act this way and he thinks that â€Å"False face must hide what the false heart doth know. † (1. 7. 92). He tells Lady Macbeth that the face should hide what the â€Å"false heart† has inside, because he is aware of Lady Macbeth’s personality and he points it out by telling her: â€Å"Bring forth men-children only/ for thy undaunted mettle should compose† (1. 7. 0-81) which shows that he believes Lady Macbeth does not have a proper action as a woman and she only should have â€Å"men-children†, meaning boys. Her effort towards having the qualities of the opposite gender helps her to do what a woman would not usually do; it helps her to plan a murder and be the reason of it. After the stereotype’s been broken, the idea of women being weak and breakable comes up through the character of Lady Macbeth by showing her inability to kill King Duncan and the strong feeling of guilt over the murders which she helps to happen, and makes her mad afterward.The moment Macbeth goes to her after he kills Duncan, and seems regretful of what he did, Lady Macbeth tells him: â€Å"Had [Duncan] not resembled/ My fath er as he slept, I had done’t† (2. 2. 16-17). She says she was not able to kill Duncan herself because he reminded her of her father. Therefore her words express the strong emotions that are still within her, and are against what she wanted to become. Right from that point, she feels the regret. Even when she is telling Macbeth that â€Å"A little water clears us of this deed† (2. 2. 85), she feels guilty about the blood on her hands.She has â€Å"hand of Macbeth’s colors† but she feels â€Å"shame to wear a heart so white. † (2. 2. 82-83). After a while, the feeling of being guilty makes her mad and she starts to feel blood all over her hands, yet they were clean. Even when Gentlewoman brings a doctor to see her, she talks unconsciously about the death of Banquo and the fact that â€Å"banquo’s buried;/ he cannot come out on’s grave† (5. 1. 58-59) but she still feels â€Å"Yet [there] is a spot† (5. 1. 29) of blood . And she also feels there â€Å"is the smell of blood still/ All the perfumes of Arabia will not sweeten [her] little hand† (5. . 46-47). The effects of regression and shamefaced make her feel insecure and mad which show her weakness and unstable personality. If she could succeed to have men qualities, she wouldn’t be suffering once she was guilty over the crime. Lastly, the failure of a woman who tries to break the stereotype is shown by Lady Macbeth’s suicide. When the doctor absorbs the sickness and madness of Lady Macbeth, he warns Gentlewoman about her situation and tells her to â€Å"look after her/ remove from her the means of all annoyances/ and still keep eyes upon her† (5. . 70-72). This is a foreshadowing that explains the cause of Lady Macbeth’s death later in the play when Seyton goes to Macbeth and says â€Å"The queen, my lord, is dead. † (5. 5. 16). That is the moment when Macbeth realizes that her wife had committed suicide and soon he says: She should have died hereafter/ There would have been a time for such a word/ Tomorrow, and tomorrow, and tomorrow/ Creeps in this petty pace from day to day/ To the last syllable of recorded time. And all our yesterdays have lighted fools/ The way to dusty death. Out, out, brief candle. / Life’s but a walking shadow, a poor player/ That struts and frets his hour upon the stage,  / And then is heard no more. It is a tale/ Told by an idiot, full of sound and fury,/ Signifying nothing. (5. 5. 16-27) Macbeth’s speech is a reflection of his love for Lady Macbeth and he sees the life is nothing but a story told â€Å"by an idiot†, after Lady Macbeth’s gone. The death of Lady Macbeth makes his life meaningless and hopeless.After trying so hard for getting the power, suddenly it’s all gone. Choosing suicide for ending Lady Macbeth’s role shows the feminism very clearly, because suicide has always been considered as the action o f somebody who is weak and unable to handle the problems that she/he has got. In this play, even though Macbeth commits the crime, it’s Lady Macbeth who commits suicide and it is a prove of the stereotype that women are weak, emotional and fragile, both physically and emotionally.Accordingly, In Shakespeare’s play, Macbeth, feminism and breaking the stereotypes can be considered as the major theme which is reflected by the character of Lady Macbeth through the play. First she is shown as a strong woman and somebody who doesn’t believe in stereotypes and the ideas that woman are weaker and fragile, and she tries to act against her inferior nature as a woman as she wants the spirits to â€Å"unsex† her. In the other hand, she shows her emotional soul by hesitating in killing Duncan and once she realizes that she is the major reasons of all the murders, she gets sick and goes mad.The feeling of being guilty and having hands immersed of blood makes her commit suicide and end the pain. Obviously Macbeth feels guilty as well but he does not committed suicide which makes him seem strong and powerful. Since suicide is always being known as a matter of weakness, giving Lady Macbeth’s character an end by a suicide is a strong proof of the stereotype and feminism in this play. Macbeth is the person who feels guilty from the first moment, so why is Lady Macbeth the one who should appear fragile and weak at the end?

Free Essays on D -12s Bio

In the post-Motown landscape of Detroit, brothers rocking the mic are still being considered the voice of young America. Yet, instead of dreaming of blue skies and white picket fences, the unruly boys known as D12 create surreal universes of wild times and unruly rhymes. On their bombastic sophomore effort, D-12 World, this motley crew of versatile style slayers mixes the rowdiness and absurdities of their lives into one potent cocktail. Two years after selling four million copies worldwide of their debut Devil’s Night, these motor city wild boys are on a mission to define themselves in the hectic canon of now-school hip-hop. â€Å"In D-12 World, anything can happen at any time,† Kuniva laughs. â€Å"Devil’s Night was just an introduction, now it’s time for us to really go crazy.† With a lineup that includes sharp tongued Eminem, crazy cat Bizarre, beatmaster Kon Artis, laid-back Swift, chilled-out Kuniva and freestyle king Proof, the D12 posse is already popular. The group’s debut disc received rave reviews in the press. USA Today wrote, â€Å"The garishly funky beats that underpin the diabolically clever wordplay make the album hard to dismiss†¦their diatribes seem born less of anger and more of disdain for all that’s politically correct.† Indeed, Devil’s Night established D12 as one of the super groups of the new millennium with its chart-topping single’s â€Å"Purple Pills† and â€Å"Fight Music† and with their outlandish antics on record and in performance. So what if Eminem has nine Grammys and one Oscar (â€Å"Lose Yourself† from the 8 Mile soundtrack); so what if Mr. Shady has proven himself as a film star (8 Mile) and America’s most popular rapper, when D12 is in the house, he’s just another group member. â€Å"We all knew each other growing up in Detroit,† Proof remembers. â€Å"I used to sneak Em into my school lunchroom just so he could battle. Later, when we started battling once a month at Maurice Malone’... Free Essays on D -12's Bio Free Essays on D -12's Bio In the post-Motown landscape of Detroit, brothers rocking the mic are still being considered the voice of young America. Yet, instead of dreaming of blue skies and white picket fences, the unruly boys known as D12 create surreal universes of wild times and unruly rhymes. On their bombastic sophomore effort, D-12 World, this motley crew of versatile style slayers mixes the rowdiness and absurdities of their lives into one potent cocktail. Two years after selling four million copies worldwide of their debut Devil’s Night, these motor city wild boys are on a mission to define themselves in the hectic canon of now-school hip-hop. â€Å"In D-12 World, anything can happen at any time,† Kuniva laughs. â€Å"Devil’s Night was just an introduction, now it’s time for us to really go crazy.† With a lineup that includes sharp tongued Eminem, crazy cat Bizarre, beatmaster Kon Artis, laid-back Swift, chilled-out Kuniva and freestyle king Proof, the D12 posse is already popular. The group’s debut disc received rave reviews in the press. USA Today wrote, â€Å"The garishly funky beats that underpin the diabolically clever wordplay make the album hard to dismiss†¦their diatribes seem born less of anger and more of disdain for all that’s politically correct.† Indeed, Devil’s Night established D12 as one of the super groups of the new millennium with its chart-topping single’s â€Å"Purple Pills† and â€Å"Fight Music† and with their outlandish antics on record and in performance. So what if Eminem has nine Grammys and one Oscar (â€Å"Lose Yourself† from the 8 Mile soundtrack); so what if Mr. Shady has proven himself as a film star (8 Mile) and America’s most popular rapper, when D12 is in the house, he’s just another group member. â€Å"We all knew each other growing up in Detroit,† Proof remembers. â€Å"I used to sneak Em into my school lunchroom just so he could battle. Later, when we started battling once a month at Maurice Malone’...

How to Make Complaints for ESL Students

How to Make Complaints for ESL Students Politeness is universally appreciated, even when making complaints, no matter what language a person speaks, but in learning English as a Second Language (ESL), some students may struggle with formulas and functions of certain English phrases meant to politely start a conversation involving a complaint. There are a number of formulas used when complaining in English, but its important to remember that a direct complaint or criticism in English can sound rude or aggressive. For most  English speakers, its preferred that others express their dissatisfaction indirectly, and introduce the complaint with an amicable introductory clause such as Im sorry to have to say this but... or excuse me if Im out of line, but... It is important to note, however, that these phrases dont directly translate into Spanish so understanding the basic function of words like sorry go a long way to introducing ESL students to the polite way to go about making complaints in English. How to Start Complaints Amicably In Spanish, one might start a complaint with the phrase lo siento, or Im sorry in English. Similarly, English speakers typically start their complaints with an apology or indirect reference to propriety. This is largely because politeness is a major element of English rhetoric.   Some phrases that English speakers may use to start complaints politely: Im sorry to have to say this but...Im sorry to bother you, but...Maybe you forgot to...I think you might have forgotten to...Excuse me if Im out of line, but...There may have been a misunderstanding about...Dont get me wrong, but I think we should... In each of these phrases, the speaker begins the complaint with an admission of error on the speakers part, relieving some of the assumed tension between speaker and audience by letting the listener know that no one involved is blameless. Whether it be because of  contrasting ideas  or just because a speaker wants to say no nicely, these introductory phrases can be helpful to maintain respectful rhetoric in conversation. Forming a Polite Complaint After ESL students understand the concept of introductory phrases to complaints, the next important element of conversation is keeping the complaint itself polite. Although being  imprecise or vague  does have its benefits when complaining, clarity and good intentions go a lot further in maintaining the cordiality of conversation. Its also important not to come across as attacking while making a complaint, so the complaint itself should start with phrases like I think or I feel to indicate that the speaker isnt accusing the listener of something as much as he or she is starting a conversation about the disagreement. Take, for instance, an employee who is upset at another for not following the company policy while working at a restaurant together, that person might tell the other Excuse me if Im out of line, but I feel like you may have forgotten that closing waiters need to refill the salt shakers before leaving. By introducing the complaint with an apology, the speaker allows the listener to not feel threatened and opens up a conversation about company policy instead of scolding or demanding that person do their job better. Redirecting focus and calling for a solution at the end of a complaint is another good way to address the issue. For instance, one might say Dont get me wrong, but I think it might be better if we focus on this task before doing the one youre working on to a coworker who is not working on the right part of a project.

Challenges in classifying normal and abnormal behavior

Challenges in classifying normal and abnormal behavior When defining and classifying normal and abnormal behavior in psychology, culture is one of the challenges that a therapist faces when assessing a client (Nairne, 2008). This is because a certain disorder is classified differently by people from different cultures. There are cultures that allow a broad diversity of behaviors than others and some behaviors. In addition, in such cultures some behaviors are not classified as abnormal but unique or just extraordinary. The presence of diverse cultures with different perspective on daily life makes it difficult to have fix standards which can be used to define and classify normal and abnormal behaviors. Every society has its cultural standards that define a normal and an abnormal behavior. In some culture an individual is considered to have a psychological disorder only when he violates the social norm of the society (Haviland, Walrath & Prins, 2007). This makes it difficult for some individuals to access attention from a therapist for ex ample those who suffer from anxiety disorders that are characterized by social withdrawal. Such individuals do not violate or affect directly the norms of a society and thus such disorders may be disregarded. Cultural deviance makes it difficult to identify and classify normal and abnormal because behaviors are classified not on the effects they have on the individual but on the effect the behavior has in the society (Haviland, Walrath & Prins, 2007). A behavior that violates the welfare of the society is the one regarded as abnormal while that which does not is normal. Most of the psychological disorders affect the individual and not the society especially when the disorder is at early stages. When the disorder is at its severity that is when the individualà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s behavior may be noticeable by the society. These facts have made it impossible to use cultural deviance alone to classify what is normal or abnormal behavior (Nairne, 2008). The Diagnostic and statistical manual of mental disorder is a manual with standardized classification and definition of behaviors. However, culture may be used to access a patient by considering how the individual relates with the society. Some culture aspects considered when assessing the client include involvement in social work and productivity. If reported that there is reduced social interaction for quite some time, this is a feature important in diagnosing mental disorders. Are some anxiety disorders more difficult to treat than others? What are some treatment options? Depending on the level of severity, there are anxiety disorders that are easier to treat than others (Evans, 2007). There are those which are approached while at their early stages and while in mild state, these are easier to treat and the method of treatment may involve use of one treatment option such as relaxation technique and may take short time, like two months, for the patient o recover. Those which are treated when at seve re state such as the generalized anxiety disorder which is a chronic anxiety disorder may require use of complex treatment methods and one method is not sufficient. There require a combination of therapy, medication and complementary treatment methods and the patients take a long time, like years, to recover .

Strategic Decision Making Underwater Hotel Essay

Strategic Decision Making Underwater Hotel - Essay Example However, other elements, particularly the individual actions that supported the goals and objectives of the model, are deficient. Components like cost structure or key activities are also ill-placed, especially when the model should provide a logical and structured framework where the hotel’s characteristics and potential can be clearly converted into economic outputs. (Chesbrough, 2011: 94) This must have been what Neely (2007: 200) had in mind when explaining how a model improperly grounded in the performing unit as a phenomenon will most likely overlook the variables that influence how the system functions. Because of these cited weaknesses, the business model will fail in the areas of theoretical and operational coherence. To address this, an improved framework should be adopted. An appropriate framework is outlined below. Fig. 1: Suggested Framework (Osterwalder, 2009: 44) The model shown above has been perfected by Osterwalder and could actually be modified into several other versions to accommodate the differences in both components and objectives. What the model offers is not only an effective framework description, but also the capacity to be flexible and envision alternatives. Hence, this particular model can optimize processes for underwater hotel ventures and its objectives, especially in the long term. II. Integration of the Business Model In terms of integration, the business model is quite efficient. The framework outlines clear practices and activities as well as future objectives and visions. This strengthens the business model, especially considering the fact that the venture is entering into the market for the first time. However, as has been previously cited, the model—in effectively integrating components—must provide nodes to depict their relationships and connections. Jaakola, Kiyoki and Tokuda (2008: 154) identified this as the node structure, an element in business models that explain processes such as value creatio n and business transactions. III. Feasibility of the Business Model Elements unique to a business model add to the complexity of how framework should be examined in the context of its feasibility. The most important criteria, however, is economic viability. This should made a crucial precondition, because without it there is no reason for existence, as the project being undertaken cannot be supported by the market. The project, as defined by the business model, should be profitable. What this means is that rewards must either equal or surpass the expectations of diversified investors on a risk-adjusted basis from investments made and resources consumed (Johnson, 2007: 42). Currently, the business model lacks value-added development and thus misses out on the profits available. Another important aspect in a business model is the way it creates value or shared value among business partners. According to Vermeulen and Cotula (2010: 35), there are four criteria that should be used to de termine how a business model shares value: 1. Ownership of business equity shares 2. Ability to take part in decision–making process 3. Commercial risk and other types of risk such as political and reputational risks 4. Sharing of economic costs and benefits and other financial arrangements All of these variables are related to each other. One may be linked or is responsible for the existence of another. Nonetheless, these elements collectively bring about value and, hence, must be present in a business

Discuss San Antonio budget 2012 - the Redirect 17 Police Officers to Case Study

Discuss San Antonio budget 2012 - the Redirect 17 Police Officers to Neighborhood Patrol - Case Study Example Other significant city priorities include human services and neighborhood code enforcement. With rigid budgets stretching the San Antonio police force, the city has set aside money to redirect police officers to neighborhood patrol. Crime watch programs, which have been in existence for years, have been boosted by the increased number of law enforcement officers to help fight crime in communities and empower residents. The 17 newly redirected police officers will operate in partnership with the neighborhood patrol, which uses volunteers and other groups of civilians as a second set of eyes and street level resource. The 2012 budget, therefore, provides an opportunity for the residents of the city to achieve both community and individual prosperity by ensuring they are safe and free from harm. The city of San Antonio develops a balanced budget, each year, by covering only those expenditures with revenue for which the city has authority to levy. The efficiencies achieved from this fiscal budget allow the city to invest additional funds in various services meant to address the challenges facing the growing city. This way the city can allocate more funds to services like policing, come the next budgeting year. The funds allocated to city services and priorities in the 2012 budget are primarily supported by $289 million from City Public Service Energy payments, $199 million from local sales tax returns and $239 million from property tax revenue. 23% of the budget is financed by other sources. The main spending area is the police services which is allocated resources that amount to approximately $343 million. The amount includes expenditures such as contractual services, personal services, self insurance, commodities, capital outlay and transfers. Out of the 2,375 uniform positions, 67 are funded by the grant fund while 2,308 by the general fund. The grant fund also finances 12 of the civilian

Marketing Plan for an International Company Assignment

Marketing Plan for an International Company - Assignment Example It is a yardstick to measure the effectiveness of the marketing conducted for a product in an organisation. In this report, we take the case of Walmart to illustrate a marketing plan. Wal-Mart Stores Inc. is a US multinational  giant. It owns department stores and warehouse stores and goes by the brand name ‘Walmart’. According to the  Fortune Global 500  list of 2013, it is the  worlds second largest public company. It employs over two million employees, more than any other private employer  in the world. Walmart, the world’s largest retailer is controlled by the  Walton family, who own a 48 percent share in it (Troy April 21, 2011). Started in 1962, it has around 8,500 stores spread out in 15 countries. Any aspect of management in general, and marketing in particular, would be vast and exhaustive. Hence, we restrict ourselves to four focus areas viz. current marketing techniques, brand reputation, global networking and future expansion opportunities. These four areas are explained briefly and followed by four marketing tools. The areas are then explained with reference to Walmart, using each of the marketing tools. A critical evaluation from the report writer’s perspective is given at every stage. To conclude, an assessment of areas other than those related to marketing is provided followed by a general marketing evaluation and the road ahead for Walmart. Walmart’s uniqueness stems from the fact that it is the retailer that offers products at discounted rates. The purpose was to sell products at low prices for higher volume at lower profit margin. Lower cost suppliers were the primary reason for passing the savings in the prices. Walmart employed various strategies for marketing itself. It took over existing companies within the US and abroad. Simultaneously, it opened several stores all over the US and the rest of the world to enhance its presence; and of late it has ventured into the premium retail segment to

Newton's laws Essay Example | Topics and Well Written Essays - 1250 words

Newton's laws - Essay Example Newton's laws of motion (law of inertia, fundamental law of dynamics, law of reciprocal actions) were verified by experiment and observation for over 200 years, and they are excellent approximations at the scales and speeds of everyday life. At the atomic scale, they become a poorer approximation to quantum mechanics, and at speeds comparable to the speed of light, they become a poorer approximation to relativity. Just as they fail for material objects moving at speeds close to the speed of light, they fail for light itself. Newton's first law appeared to be in the past just a special case of the second law, and it was thought Newton stated the first law separately simply in order to throw down the gauntlet to the Aristotelians. However, modern physicists think that the First Law defines the reference frames in which the other two laws are valid. These reference frames are called inertial reference frames or Galilean reference frames, and are moving at constant velocity, that is to say, without acceleration. (Note that an object may have a constant speed through its motion path and yet have a non-zero acceleration, as in the case of uniform circular motion. This means that the surface of the Earth is not an inertial reference frame, since the Earth is rotating on its axis and orbits around the Sun. However, for many experiments, the Earth's surface can safely be assumed to be inertial. The law of gravity became Sir Isaac Newton's best-known discovery. Newton warned against using it to view the universe as a mere machine, like a great clock.

Showing the customer who's Boss Case Study Example | Topics and Well Written Essays - 1500 words

Showing the customer who's Boss - Case Study Example The launching of "Boss," which targeted young professionals with a full line of more casual clothes as well as sporting accessories, allowed the company access to a much wider range of clientele than it had previously enjoyed. It is this segmentation of the Hugo Boss brand helped the company immensely with its growth and profitablility. According to Diamond and Pintel (1980) "there is generally a limit to the amount of sales that a given article can produce, company growth may depend on the introduction of new products for an increase in sales" (p.166). Which is exactly the idea that Hugo Boss had as they expanded their product lines and thereby expanded their client base. The next foray into new territory brought them into the world of women's apparel. Since Hugo Boss was not well known in this market, they had to work hard to extend the popularity and the image of their brand. They already had a great advantage because their name has always been associated with quality clothing, this strong brand name and store image played a very important role in their new product lines. "Store image is a very important factor for effective retail marketing because it can exert a major influence on consumer patronage patterns" (Rosenbloom 1981 p. 127). A strong store image can help not only attain new patronage but also ensures retaining the clientele they already have. However, Hugo Boss needed to ensure that their popularity would be transferable to the women's market. Hugo Boss faced a challenge in marketing the women's line "unlike most types of goods, merchandise with fashion orientation requires anlysis that is often different" (Diamond and Pintel 1980 p.192). Hugo Boss needed to generate ideas quickly and analyse their information and designs in a different manner when dealing with women's fashions. "Fashion, with its rapid changes, dictates the need for the continuous introduction of new styles" (Diamond and Pintel 1980 p.192). Hugo Boss also employed various ways to communicate with their audience, such as media outlets, fashion shows, and major layouts within popular fashion magazines. Hugo Boss' goal was to have their popular brand name become associated with high quality women's clothing. The obstacles were difficult to overcome, the costs for advertising were high and fashion is risky, the clientele's needs and wants are in constant flux. According to Diamond and Pintel (1980) "an error would be enormously costly, since wrong styles have almost no value," (p.193) yet are still costly to produce and promote. Hugo Boss experienced difficulties with their new women's line early on, as is seen in the net losses they sustained when it was first launched. Extending an existing brand into a new, but related market, is challenging for several reasons. First, the audience needs to accept the change, and secondly, they need to believe that the brand will retain its integrity and quality when producing new products outside their original market. The danger is that the brand name will be diluted by being over eager and attempting to go into markets beyond their core competency. Yet, by 2002, Hugo Boss had figured out how to leverage their name across new markets and had finally become

Project Recommendation Essay Example | Topics and Well Written Essays - 500 words

Project Recommendation - Essay Example The company has commenced investment in the project and lack of implementation may lead to substantial monetary losses. One way of dealing with uncertainty is employment of pretested technology. This may be a plus for the Project Stargazer as its research and development has been going on for a while. The return on investment determines the profitability of implementing the Project Stargazer through assessment of monetary implications of the funds and schedules. When the magnitude and timing of investment in the Project Stargazer is gauged and the timing of investment gains is directly proportional to the magnitude and timing of costs, a high return of investment is identified. This indicates that the gains associated with this project compare favorably to the implementation costs. This return of investment clearly shows that the project will not only be profitable, but also use the funds directed at it efficiently. The project will break-even when the total sales and revenues equalize the total expenses associated with the Project Stargazer. At this point, no losses or profits will be associated with the project, though with a high return on investment, the project is likely to break-even with ease. The product that is associated with this project is also innovative and has not been introduced in the market before. Developing and marketing such a product will be beneficial to the company as it will be developed for the first time. Success of the Project Stargazer might also pave the way for the company to market a variety of other products in the future. Project conception: The project Stargazer has already been researched and its development is already in progress. Previous analysis suggests that implementation of the project will benefit the company and chances of successful completion are high. Definition and planning: After the company approves the development of the project, a project plan outlining the

Showing the customer who's Boss Case Study Example | Topics and Well Written Essays - 1500 words

Showing the customer who's Boss - Case Study Example The launching of "Boss," which targeted young professionals with a full line of more casual clothes as well as sporting accessories, allowed the company access to a much wider range of clientele than it had previously enjoyed. It is this segmentation of the Hugo Boss brand helped the company immensely with its growth and profitablility. According to Diamond and Pintel (1980) "there is generally a limit to the amount of sales that a given article can produce, company growth may depend on the introduction of new products for an increase in sales" (p.166). Which is exactly the idea that Hugo Boss had as they expanded their product lines and thereby expanded their client base. The next foray into new territory brought them into the world of women's apparel. Since Hugo Boss was not well known in this market, they had to work hard to extend the popularity and the image of their brand. They already had a great advantage because their name has always been associated with quality clothing, this strong brand name and store image played a very important role in their new product lines. "Store image is a very important factor for effective retail marketing because it can exert a major influence on consumer patronage patterns" (Rosenbloom 1981 p. 127). A strong store image can help not only attain new patronage but also ensures retaining the clientele they already have. However, Hugo Boss needed to ensure that their popularity would be transferable to the women's market. Hugo Boss faced a challenge in marketing the women's line "unlike most types of goods, merchandise with fashion orientation requires anlysis that is often different" (Diamond and Pintel 1980 p.192). Hugo Boss needed to generate ideas quickly and analyse their information and designs in a different manner when dealing with women's fashions. "Fashion, with its rapid changes, dictates the need for the continuous introduction of new styles" (Diamond and Pintel 1980 p.192). Hugo Boss also employed various ways to communicate with their audience, such as media outlets, fashion shows, and major layouts within popular fashion magazines. Hugo Boss' goal was to have their popular brand name become associated with high quality women's clothing. The obstacles were difficult to overcome, the costs for advertising were high and fashion is risky, the clientele's needs and wants are in constant flux. According to Diamond and Pintel (1980) "an error would be enormously costly, since wrong styles have almost no value," (p.193) yet are still costly to produce and promote. Hugo Boss experienced difficulties with their new women's line early on, as is seen in the net losses they sustained when it was first launched. Extending an existing brand into a new, but related market, is challenging for several reasons. First, the audience needs to accept the change, and secondly, they need to believe that the brand will retain its integrity and quality when producing new products outside their original market. The danger is that the brand name will be diluted by being over eager and attempting to go into markets beyond their core competency. Yet, by 2002, Hugo Boss had figured out how to leverage their name across new markets and had finally become

Sports And Games Essay Example for Free

Sports And Games Essay Sports and Games are essential for many reasons.They not only help us to maintain good health but also foster friendship and goodbehaviour.Many people think that the aim of sports and games is to win gold medals in olympic games.That is not at all important.what is important is that every boy and every girl in our country should be interested in sports and games. Being interested in games does not mean merely watching other people play games.They should devote at least an hour a day to sports and games.sports and games must be given as much importance as academic studies in our scools and colleges.Marks must be awarded for proficiency in mathematics and physics. Most of us are interested in sports but in our country we cant take sports as a career its just a game this should be changed because in china many of them are adopted for sports they dont even do their education properly their only aim is to shine in Spitsbergens of that only they getting medals and first place in Olympics but in our country its not like that it should be change then only we will get medals. Sportsmen have often to live together while undergoing training and participating in competitions.They understand one another and learn to make the adjustments for corporate life.They learn to respect one anothers individuality.In other words,they learn the virtue of tolerance. In the US, the most popular is football. In Canada, its hockey. In Mexico, its soccer. In all of Central America except for Cuba and Puerto Rico, its soccer since in those Cuba and Puerto Rico the favorite is baseball. In all of South America, its soccer. In all of Africa its soccer. In all of Europe its soccer except for some icy countries like Finland where they cant play soccer so its snowboarding and hockey. In most of the Middle East, its soccer. In India, which has about 1.2 billion people, its cricket The importance of sports and games is being increasingly recognised in India, from both the educational and social points of view. More and more funds are being allocated for encouraging sports in schools, colleges and universities; in fact, sports have become an essential part of the curricula. Time was when only a few students, who were fond of games like hockey, football, cricket or tennis, were allowed special facilities.

Analysis of Free Trade and Free Trade Agreements

Analysis of Free Trade and Free Trade Agreements Introduction In 1776 Adam Smith published â€Å"The Wealth of Nations†, in which he introduced the proposition that free trade among nations improves overall economic welfare. The concept of free trade has since become a generally accepted principle. A considerable number of economists assume that free trade is beneficial for countries involved in and raises overall economic welfare. Free trade, generally explained as the elimination of tariffs, quotas, or other governmental restrictions on international trade. This allows each nation to specialize in the production of goods that it can produce relatively cheaper and more efficient than other countries, which eventually results in higher real income. In spite of free trades benefits, it sometimes hurts the domestic industry, because the removal of tariffs makes it difficult for domestic firms to compete with the cheaper imports of that good coming from partners. Free trade agreements among countries are set up multilaterally, bilaterally or regionally. Multilateral agreement involves a number of countries, which is currently promoted by World Trade Organization (WTO) that also permits implementation of bilateral (involves two countries) and regional (involves two or more countries in a region) arrangements. WTO website reports that 462 bilateral and regional trade agreements are in force up to February 2010. In this report, the theory of free trade agreements is analyzed on the basis of economics along with their practice in real life taking into account the examples of North American Free Trade Agreement (NAFTA) and the European Union (EU). Furthermore, given empirical evidence related to free trade agreements provides a clear picture of the pattern of those agreements. Economic Integration Free trade agreement (FTA) is a negotiated treaty among a designated group of countries that have accepted to eliminate trade barriers between them. As a consequence, member countries allow one another preferential consideration in trade. In order, this results in closer economic integration between nations. Economic integration is materialized under several associations. First of those is free trade areas (FTAs), under which tariffs and non-tariff barriers on trade have been eliminated between members, nevertheless, each country preserves its private trade policies outside the region. The second preferential trade institution is customs union, in which countries create free trade among members and keep hold ofcommon tariffs and other policies outside the organization. Common markets, the third type of preferential trade, is a further step of customs union, which not only promotes elimination of tariffs and non-tariff barriers with common tariffs for non-members, but also free moveme nt of capital and labour across internal borders within the market. The last form of arrangement in terms of preferential treatment is economic union, in which countries go further beyond by bringing together their economies with setting up a common currency, in order a unified monetary policy, at the same time as other economic institutions. The most essential example of such a group of member countries is the European Union, which initially started as a customs union and eventually reached to an economic union.According to Cooper (2005), majority of recent FTAs comprise rules oneconomic activities along with trade in goods, including foreign investment, intellectualproperty rights protection, treatment of labor and environment, and trade in services.The dimension and complexity of the FTA will predominantly demonstrate the size and difficulty ofthe economic relations. Economics of Free Trade Free trade agreements are believed to bring economic growth to member countries with respect to the volume of trade. According to Trentmann (1998:226), â€Å"thedoctrine of free trade, that provides unrestricted commodity exchange between places is the best way to advance their mutual prosperity†. To explain the benefits of free trade, economists use David Ricardos theory of comparative advantage and basic tariff or quota analysis. In 1817 Ricardo presented the concept of comparative advantage, which is regarded as one of the most significant laws of economics. It refers to, for a country,producing a good or a service at a lower cost compared to another good within an economy. Therefore, the comparative advantage ability of a nation contributes to trade with its partner. Even if a country has an absolute disadvantage in producing any good than the other nation, there is still a foundation for joint beneficial trade. According to the theory, bearing in mind two goods, the first nation should specialize in production and exportation of the good, in which it has smaller absolute disadvantage and importationof the item in which its absolute disadvantage is greater.As a result, specialization among nations, allows them to allocate their scarce resources to the production of the certain goods and services, in which that country has a comparative advantage. Since free trade grants specialization among countries, this expands worldwide output level. The welfare of specialization with economies of scale, which is the fall in costs because of output increases, makes the global production possibility frontier to enlarge. This displays the fact that under free trade the quantity of produced goods and services is higher than the previous level, which leads to international economic prosperity. Another method of describing the advantage of free trade is using a basic tariff analysis. A tariff is a tax on imports, which simply raises the price collected by domestic producers of that good. Figure 1 shows the benefit of free trade with the example of tariff assumption. The above graph illustrates the imposition of an import tariff on a made-up good. Previous to tariff, Pworld is the price of the good in the world market. However, the levied tax on the good increases the domestic price from Pworld to Ptariff. As a consequence of higher prices, the domestic production grows from Qs1 to Qs2 at the same time domestic consumption shrinks from Qc1 to Qc2. The increase in price due to introduced tariff has significant effects on the welfare of the society. This ultimately leads to a decrease in consumer surplus with the new border of Ptariff level, a rise in producer surplus up to Ptariff level, and additional revenue for the government (the blue area). Nevertheless, the consumer loss is considerably more than the profits of producers and the government together. The size of societal loss is shown by the two triangles. Hence, imposition of tariff makes society worse off, vice versa; free trade would provide a net gain for society. The similar analysis of export tariffs, import and export quotas all generate practically very same results. This makes consumers occasionally better off and producers worse off or sometimes consumers worse off and producers better off, yet establishing trade barriers create a net loss to trading countries as the amount of losers from trade limitations is greater than winners from those restrictions. Landsburg (2004), based on empirical evidence, states that free trade also produces winners and losers; nonetheless, the volume of gains from free trade is bigger than the losses. Hence, being under free trade positively affects nations economic welfare. Economic impact of free trade Formation of free trade agreements throughout the world raises notions about their impact on member countries and nonmembers. The issue has been discussed by economists and separated them into those who are strongly against the free trade and find it economically inefficient, and those who are in favour of it and believe that it creates freer trade. To build their analysis on the impact of the free trade, economists use the theories of trade creation and trade diversion. Jacob Viner first introduced these theories in 1950, whose work later has been mostly applied for free trade agreements. The concept of trade creation is based on the assumption that a member country substitute domestic production of a good with imports of that good from another member, since launch of free trade makes it more profitable to import rather than produce domestically. This is also described as a shift from a higher cost domestic zone to a lower cost partner source. Trade creation with an example of a European Union (EU) member. A member country should import from a EU partner, which charges a lower price thanks to termination of tariffs and this leads to a rise in consumer surplus. The creation of trade contributes to economic welfare within the member countries as resources are utilized more efficiently. Trade diversion is implemented when a member country shifts its import of a good from an efficient nonmember to a less efficient partner in view of the fact that elimination of tariffs among the members and imposition of tariffs on imports from nonmembers make it more affordable to do so. It is a shift from lower cost international territory to a higher cost regional partner source. The graph of trade diversion again using the example of EU. In view of the fact that, EU is a customs union, it has a common external tariff on products coming from nonmember countries. This raises the price of imports from the rest of the world, which at the same time brings inefficiency by reducing consumer surplus. Consequently, costs are higher for a EU country if it formerly had entry for a lower cost producer. The graph also shows the deadweight losses as a result of trade diversion. Trade diversion is meant to lower economic welfare as a less efficient producer now uses resources rather than an efficient one. In general, creation of free trade agreements are subject to both trade creation and trade diversion. When countries are forming a freer trade among themselves, with respect to pattern of the agreement, they could be economically and financially deteriorated. This would be a result if diversion of trade exceeds its creation according to Lipsey and Lancasters (1956) general theory of the second best principle. Therefore, forming a FTA does not always improve efficiency or bring prosperity, but sometimes moving to it may reduce the national welfare of the nations involved. Empirical Evidence Foundation of General Agreement on Tariffs and Trade (GATT) in 1947, significantly affected expansion of world trade by reducing tariff barriers on manufactured goods. Over the years, average tariffs have fallen from around 40 percent to about 5 percent currently. GATT became World Trade Organization (WTO) in 1995 and now involves worlds 153 countries. Although WTOs success on world trade, it still has the problem of maintaining and extending liberalism in the global trading system. Multilateral negations, which include many trading partners, over trade liberalization move very slowly. Besides this, it has not had a great success in liberalizing trade in agriculture, textile, or apparel industries. For this reason, rather than multilateral negotiations, bilateral or regional trade agreements has become a preference for a number of countries. Source:http://www.unescap.org/tid/projects/rtaap_overview.pdf The rapid increase in the regional trade agreements from the 1950s hitherto. It is indicated that around 450 RTAs have been notified to the WTO, of which almost 250 are currently in force. Source: http://www.unescap.org/tid/projects/rtaap_overview.pdf Source: http://www.unescap.org/tid/projects/rtaap_overview.pdf In its early years, implementation of a free trade agreement was subject to free trade of only goods, however, currently trade agreements involves trade in services as well. According to the UNESCAP (2009), out of current 246, 171 RTAs cover trade in goods, 61 trade in services and 15 are accessions to existing RTAs. Besides this, 70% of RTAs being reached an agreement but not yet in force, provides free movement of services on trade. Source: http://www.unescap.org/tid/projects/rtaap_overview.pdf The above chart displays that the majority of trade agreements with 82% are free trade areas, whereas only 11% of those account for customs union and the remaining part belongs to partial scope. Slow progress on the multilateral agenda has led to many countries to attain more efficient negotiations for the deeper regional integration.One of these agreements is North American Free Trade Agreement (NAFTA). NAFTA NAFTA is a trilateral free trade treaty that came into force in January 1994 involving three countries-United States, Canada, and Mexico. The fundamental object of the agreement was to put an end to the huge majority of trade barriers among the members. The formation of NAFTA led to the instant removal of tariffs on US-Mexico business transactions, whereas nearly all US-Canada trade was already tax-free. According to Hufbauer and Schott (2005), NAFTA was created to boost economic growth by stimulating competition in domestic markets and promoting investment through national and international sources. They also state that this has worked and consequently has brought efficiency and productivity to North American Firms. Currently, they can benefit from economies of scale in production and intra-industry specialization. NAFTA at a Glance NAFTA Partners Canada U.S. Mexico Combined Population (2008 est.) 33.3 million 304.1 million 106.7 million 444.1 million Languages English and French English Spanish GDP (2008) 1,501 billion 14,441 billion 1,087 billion 17.0 trillion Trade with NAFTA 570.8 billion 919.9 billion 393.5 billion 946.1 billion Inward FDI (2008) 240.0 billion 229.8 billion 156.0 billion _1 Jobs created (1993-2008) 4.3 25.1 9.3 39.7 Employment Level, 2008 17.1 145.4 43.2 205.7 Source: http://www.naftanow.org/facts/default_en.asp Establishment of NAFTA has contributed significantly to the trade relations between Canada, Mexico, and the United States. Although, economists disagree whether the growth is a direct outcome of the agreement, the expansion is proved by the facts from the office of the U.S. Trade Representative (USTR). USTR (2008) reports that trade within the members more than tripled between 1993 and 2008, from $297 billion to $946.1 billion. Besides this, business investment in the United States has risen by 117 percent between the same years, as compared to a 45 percent rise in the fourteen years prior. Trade with NAFTA members, currently, makes up more than 80 percent of Canadian and Mexican trade, and more than a third of U.S. trade. NAFTA has allowed North American businesses to have a better entry to sources including materials, technology, investment and human capital accessible within the partners. This brings competitiveness to the businesses in the North America as a consequence of trade liberalization. In order, trade liberalization makes an important role in promoting economic growth. Since NAFTA came into force, the economy of member countries has more than doubled in size. As it is shown in the Figure 4, in 2008, the combined gross domestic product (GDP) for partners exceeded US$17 trillion, up from US$7.6 trillion in 1993. Both Mexico and Canada have experienced economic growth since the formation of NAFTA. Being a member of this institution caused a rapid increase in trade with the United States for these economies. Thanks to trade liberalization, a substantial reduction in prices for Mexico and Canadas consumers occurred as a result of tariff removals along with bringing up efficiency in business relations.In case of United States, NAFA countries became top two largest export markets in 2008. USTR (2009) reports that the value of U.S. exports to NAFTA was $412.4 billion in 2008, up 7.2 % ($27.6 billion) from 2007, and up 190% from 1993 (the year before NAFTA). The top export categories (2-digit HS) in 2008 were: Machinery ($63.5 billion), Vehicles (parts) ($59.5 billion), Electrical Machinery ($49.2 billion) and Mineral Fuel and Oil ($27.9 billion), and Plastic ($22.3 billion) (USTR. 2009). U.S. exports to NAFTA evaluated 32.0% of total U.S. exports in 2008, down slightly from 32.2% in 1994. Whereas U.S. imports from NAFTA accounted for 26.4% of overall U.S. imports in 2008, down from 26.9% in 1994. NAFTA countries Canada ($339.5 billion) and Mexico (215.9 billion) are totaled the largest and third largest importers for U.S. respectively in 2008. U.S. goods imports from NAFTA accounted for $554.4 billion in 2008, up 5.2% ($27.7 billion) from 2007, and up 268% from 1993 (USTR, 2009). The five largest categories in 2008 were Mineral Fuel and Oil (crude oil) ($157.8 billion), Vehicles ($79.7 billion), Electrical Machinery ($63.5 billion), Machinery ($46.5 billion), and Special Other (returns) ($14.3 billion). It is very obvious that NAFTA has become very successful in soaring trade between its member nations. Yet, it is not very clear to understand whether the increase is really contributed to world trade or whether the increase actually symbolizes trade diversion. Just like any other free trade area, NAFTA members are subject to hold their own external tariff for third countries. This behavior of FTAs features Rules of Origin (ROO) concept. Its intention is to prevent trade deflection, i.e. goods or services accessing the member country with the lowest tariff for the object of trans-shipment. Although a product, coming from a member, has an access of free entry, if it contains material or processing from a third country it is then necessary to set which such inputs are permitted (Augier). A quite number of negative effects are attributed to ROO in economic literature. It could be said that these rules are protectionist and leads to negative economic welfare.Krueger (1997) states that eve n where the purpose of ROO is not protectionist, they provide a great amount of cost for producers and administrators. NAFTA possesses restrictive rules of origin procedure as well.Hufbauer and Schott (2005:23) comment that in a few industries, most notably textiles and apparel where yarn forward rules of origin were imposed specifically to make US textile firms the preferred suppliers for Mexican apparel manufacturers, NAFTA has indeed fostered trade diversion†.The rules of origin have possibly brought about trade diversion for certain industries under NAFTA. European Union European Union (EU) is the worlds largest trading bloc. The Treaty of Rome established the foundation of the EU in 1958. This treaty created a supranational institution called European Economic Community (EEC) between six countries (France, Western Germany, Italy, Belgium, Netherlands, and Luxembourg). The primary purpose of the EEC was to create a customs union and an incomplete common market. Customs Union has entailed free trade between members with the protection of the union against the rest of the world. Merging markets brought up rapid progress in the 1960s and early 1970s. The following objective was to implement an economic union by setting up common policies. In 1993, the Maastricht Treaty implemented the single market and the European Union was formally established. Currently, the EU involves 27 countries with over 500 million population. The advantages from free trade predicted by theory encouraged the founders of EU to adopt removal of barriers on trade. In the 1970s and 1980s the new partners both those, which joined in 1972 (the UK, Ireland and Denmark) and those, which joined in the 1980s (Spain, Portugal, and Greece) eliminated all tariffs and quotas in intra-EU trade. After the completion of the customs union, the EU has picked a common external tariff (CET) in their relation with the rest of the world. The CET principle applies generally to all manufactured products. Until recently it did not apply to agricultural products market, which is protected by the EU. Nonetheless, being under a customs union has had a favorable influence on the EU members so that trade among member states overweighs the trade with the third countries. Between 1958 and 1972, the trade among the six original EU members had increased by nine times, whereas goods trade with the third countries grew by three times (Molle, 2006). This was attributed to the trade creation effect of the EU. In 1993, the completion of single market provided removal of all trade barriers and free movement of goods, services, capital and people within the EU. It is believed that the single market actually benefits the union with reducing the business costs along with stimulating competition and increasing efficiency for the advantage of consumers. BIS reports that in 2006 the EUs GDP was 2.2% higher than it would have been in the absence of the Single Market, which benefited consumers by an average increase of â‚ ¬518 per capita. Furthermore, an extra 2.75 million jobs have been created as a result of the single market across Europe. Molle (2006) states that in the period 1960-2000 intra-EU trade has expanded by almost 7 per cent annually, which is considerably in excess of GDP growth. The main factors of this growth were the EU integration and ongoing liberalization of world trade. After the enlargement of Austria, Finland, and Sweden in 1995, original members trade with the three new partners increased significantly, indicating an effect of integration. In 2004 and 2007, EU experienced its biggest enlargement by the join of 12 Central and Eastern European countries (CEECs). This resulted in changes in the EUs trade pattern because enlargement made the new partners as a part of intra-EU trade, which used to be considered as an extra-EU commerce. As a result, EUs internal trade accounted for nearly two thirds of the EUs total foreign trade, summing approximately â‚ ¬4.9 trillion in 2006 (Panorama of European Union Trade). David (2009) based on his research, states that the enlargement led to a net trade creation caused by notable gross trade between the EU and CEECS. Although exports from older 15 members to new eastern European members surpass their imports, this in general increases liberalized trade between partners and creates overall positive impact. Free Trade Area vs Customs Union Both of these two major forms of economic integration have a distinctive behavior that has notable implications. For an FTA, with every single country possessing its own external tariff, the ROO is the typical feature. In terms of a CU, the distinguishable factor is the common external tariff (CET), which is related to third countries. When a common external tariff is the case, imports into the unions area meet the same tariff in each member country; therefore there is no incentive for trans-shipment of imports among members. Mirus and Rylska statethat the once CET established, it remains non-negotiable, although this may result in increase in non-tariff barriers, common commercial and trade policies would limit such attempts. The administrative simplicity in a CET makes it easy to implement, promoting efficiency and competition as a result of lowered input costs. Taking into account FTAs ROO feature, Krueger (1995) has revealed that an FTA does not cause more net trade creation than a CU for the same partners. Besides this, an FTA will not be economically more successful than a CU for the same members, if the CET is placed below the level of the high cost country. In this situation, trade is created when the high cost nation lowers production because of tariff cuts, in contrast an FTA would maintain the tariff and creates less trade. Considering the protectionist (trade-diversion) effect of ROO, this accounts for more trade creation and less trade diversion for a CU. Bearing in mind the borders and separate customs operation under an FTA, a CU resembles a larger single market, in which the power of interest groups compared to an FTA is significantly low and scale economics along with competition effects are importantly greater. Furthermore, a fairly large CU will have a remarkable influence on the prices of globally traded products, compellin g non-member countries to undertake the existed prices inside the CU. As a result, non-members will export to the CU at prices that contains CET and transport costs, granting an aspect of monopsony power to the CU. This effect is not that clear for an FTA with similar partners. Hence, the welfare-enhancing benefit of a CU is greater than those of an FTA. Conclusion This report provides analysis of free trade and free trade agreements with their economic implications including economic integration, comparative advantage, trade creation and trade diversion effects. Moreover, the practical impacts of NAFTA, the worlds largest free trade area, alongside the European Union, which is the worlds biggest customs union, are surveyed. The results reveal that formation of both of these institutions has enormously increased the dimensions of trade among members. In addition, a rise in investment, competition and closer economic integration has contributed economic welfare of the countries involved. Welfare enhancing characteristic of free trade as a consequence of elimination of trade barriers stimulate nations to implement free trade agreementsacross the world. This was primarily undertaken by GATT/WTO, however, inefficiency and inadequacy of this institution in trade liberalization required countries to move towards the bilateral and regional trade agree ments preferred to multilateral trade negotiations. Under regional trade agreements, Bhagwati (1992) states that trade diversion is more likely to prevail trade creation in most cases. Besides this, the dominant view among mainstream economists is that regionalism is disadvantageous for the multilateral trading system because they bear discriminatory features in their nature. In contrast, Krugman favors regional agreements and states that contemporary trade barriers are much more complicated to agree on multilateral level, whereas, negotiating in regional forums is really easy to cope with. Moreover, he does not find regional trade agreements to have any kind of negative effect on multilateral structure. Recent studies demonstrate that,under regional and bilateral trade agreements, trade diversion effects are limited and a significant amount of trade creation effects dominate under those treaties (Urata and Okabe, 2007).Both the cases of NAFTA and the European Union show that the tr ade creation effects prevail, as a result, this generates economic welfare.