Dimension Of Financial And Management Finance Essay - Free Essay Example

Sample details Pages: 11 Words: 3238 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? This research focuses on three different dimension of Financial and management accounting. in the first part it gives a clear picture of company law and professional accounting frameworks which can be used to make financial reports of different companies comparable and reliable. Furthermore, the second given question was Discounted Cash flow and its importance for the business investment appraisal. Don’t waste time! Our writers will create an original "Dimension Of Financial And Management Finance Essay" essay for you Create order Lastly, the third part of this research assignment is discussing the importance of profitability and liquidity and how a business can manage its working capital to reduce the risk of short term liquidity problems. An introduction to each mentioned topic is given in the following separate paragraphs. Financial statements are the sum or conclusion of the performance of a company over a specified span of time which as a result, represents a clear financial status of a company. There are different types of financial reports which are created by a company, but the major reports are: The Balance Sheet, Profit and Loss Statement and Statement of Cash flow. In order to make different companies financial report comparable there has to be a certain rules which should be followed by all companies. These rules are some forced by government in which all companies are being entitled to obey certain rules while preparing the reports. In UK, all companies must act in accordance with provisions the Companies Act 1985. In addition to company law, companies which are listed on stock exchange are required to follow Stock exchange rules and other professional accounting framework such as IFRS. (Atrill, P and Mclaney, E. 2005) Discounted cash flow is very useful techniques which are used in a wide variety of businesses. Mortgage loan are one of the best examples. Therefore, Discounted Cash flow (DCF) techniques are much preferred by the companies while making investment decisions. As an illustration, DCF analysis is a capital budgeting practice which is used to analyze and quantify the receipt and payment of a particular project or business venture. DCF methods are given preference in investment decisions because it takes in the account the importance of time value of money and amount of risk involved in acceptance of a project. (Ramagopal, C. 2008) Liquidity and profitability are equally important for existence of a company. A company which cannot pay its creditor on time or cannot meet its short term expenditures will easily become insolvent or bankrupt. On the other hand, Profitability is the amount of revenue exceed from its relevant expense. Therefore, both profitability and liquidity are equally important factor for survival of a business. Working capital is the difference between current asset and current liability. Management of working capital can reduce the risk of liquidity problems in the short run for a company. (Avadhani,V.A. 2010) Professional and Legal Regulatory Framework of Accounting (Task 1) Financial Reports and Accounting Frameworks: Financial statements are used to make fair decision by various numbers of users. Therefore, the major users of financial reports are classified into: Employees, Present and Potential Investor, Lenders, Customers, Suppliers and other trade payables, Government, and The Public. The objective of financial reports is to provide necessary and objective information about the company performance in order to allow users make sound economic decisions. (Atrill, P and Mclaney, E. 2005) Financial statements are the overall conclusion of the performance of a company over a specified span of time which as a result, represents a clear position of a company. There are various types of financial reports which are prepared by a company, but the major reports are: The Balance Sheet, Statement of Cash flow, Profit and Loss Statement, and The statement of changes in equity. (Atrill, P and Mclaney, E. 2011) UK Government Accounting Standards Untitled.png Source: Catalogue Pearsoned. 02.09.2013 In order to make different companies financial report comparable there has to be a certain rules which should be followed by all companies. These rules are some forced by government in which all companies are being entitled to obey certain rules while preparing the reports. In UK, all companies must act in accordance with provisions the Companies Act 1985 (CA 1985) which is now changed to Companies Act 2006. Under the mentioned Act, every company is entitled to present their Balance sheet and Income statement at the end of each financial year with true and clear vision. In addition, companies, under Schedule 4 of CA 1985, are further restricted to follow certain format and provide additional information by way of notes. Moreover, Companies in UK should also comply with Financial Reporting Standard and other professional guidance. And these are: Accounting Standards: these are comprised of Financial Reporting Standard (FRS) and Statement of Standard Accounting Practice (SSAPs) which have been issued and adopted by Accounting Standard Boards (ASB). Majority of companies apply these two standards. Financial Reporting Standard for Smaller Entities (FRSSE): this sum up all accounting format which UK small entities are restricted to follow. International Financial Reporting Standard (IFRS): these are issued by International Accounting Standard Board (IASB). All UK Stock exchange listed companies are required to follow this standard. However, unincorporated companies are exempt from IFRS accounting regulations. Limitation of Financial Reports: Although Legal and professional accounting framework are designed to meet quality factors (Relevance, reliable, objective, and comparable), but still there are some limitations attached to financial reports which cannot be ignored. And these limitations are: Conventionalized representation: Business are different in their nature and financial reports are prepared in a highly standardized way. This can limit usefulness and comparability of information. In addition, users often find difficult to understand the component of business since financial reports are highly aggregated. This means several information is combined together and presented in a very few figures which often users struggle to find their correct path. In addition, Standards are basically general purpose which ignores to identify the difference between large and small entities. (Elliot Barry, Elliott Jamie. 2008) Adverse allocative effects: this can occur if economic consequences as a result of standard regulation are not taken into account by standard setters. For example, preparing such reports in accordance with standard may cost companies higher than their normal reporting system. Now this can affect the company profitability which can be regarded as an adverse effect. (Elliott Barry, Elliott Jamie. 2008) Backward-Looking: Users are interested in future and certainties however, financial reports are based on past events and provide information which has already affected the company. Non-Financial information: financial statements do not take into account non-financial factors. This factors could highly affect a company performance. Such as: Business risk and opportunities, Management policies, company performance and prospects analysis, and description of the business major operation. Other information: basically some companies provide additional information along with its financial report. This additional information is not always relevant to most users is most of the cases. And this could further affect objective and comparability of financial reports. Discounted Cash flow and its importance in investment decisions (TASK 2) Companies need to invest in projects in order to expand their business activities and become leader in the market by increasing their market share. Since there are various techniques which are used to analyze an investment decisions, Discounted Cash flow (DCF) techniques are much preferred by the companies while making investment decisions. In other word, DCF analysis is a capital budgeting practice which is used to analyze and quantify the receipt and payment of a particular project or business venture. DCF methods are given preference in investment decisions because it takes in the account the importance of time value of money and amount of risk involved in acceptance of a project. Time Value of Money: The concept of Time value of money is based on the fact that a pound received today has higher value than a pound received next day. Even a child prefers todayacirc;s enjoyment than waiting for tomorrow. According to Ramagopal, C. (Financial Management. 2008) there are several factors which support the concept that Money has time value. Risk and Uncertainity: there is risk and uncertainities always involved in future. Out flows are in a company control but there are is no any gurantee for future cash inflow. Thus a pound today is regarded to have higher value than a pound in future. Present Need are more important: businesses generally prefer current expenditure and consumption. Opportunity to invest: an individual or a business can invest money today so that they could gain benefit of Interest or profit as a result of their investment. Inflation: Inflation in an economy will decrease the money purchasing power. Most government have structural inflation which is fixed every year thus a pound received next year will have much less purchasing power than a pound received today. To make this concept more clear let suppose that 100 pound is invested today in a bank with a return of 10% interest rate each year. At the end of year one the interest which will be paid for initial investment is 10 pound and the total amount will be 110 pounds. Therefore the value of 110 pounds to be received after a year is equivalent to the value of 100 pound received today. Discounted cash flow are very useful techniques which is used in a wide variety of businesses. Mortgage loan are one of the best examples. Interestingly, DCF methods can also be used by Investors while purchasing companies stocks. In addition, Managers use this method to identify potential investment decisions or choose the best investment decision among several projects. The overall application of DCF methods is to convert future cash flows into present value by discounting these cash flows at the rate of company cost of capital. (Kern, Andy. 2010. The importance of DCF Valuation) For example, we purchase a 20 year debenture on the day it issued on the market at face value price. So when we purchased this debenture, in fact we invested on this company and over the period of 20 years we expect to receive an amount greater than the value we purchased. Therefore, the value of this debenture today is calculated by discounting the value of principal and interest to be received over the period of 20 years. Or in other word, the value of today debenture equal to the sum of discounted value of interest and principal payment it will make over the 20 years. Advantages of Discounted Cash Flow It can be used to identify the value of a business as whole or also it can be used to determine the value of a specific project or component of a business that can be added to the overall value of business after conducting certain investments. It is simple and easy to calculate and understand. But it can be modified to deal with complex structure. In addition, both equity shareholders and investor can use this model to appraise investment. Investor can use DCF techniques to discount the value of shares or debenture in to current amount and calculate the amount of interest they earn over period of time. Meanwhile, companies can also use DCF method to evaluate investment decisions and make proper and sound investment in projects so that the value of the company is encouraged if the NPV or IRR is greater than cost of capital. Profitability VS Liquidity and Working Capital Management to Reduce Liquidity Problems (Task 3) Liquidity and its importance for business survival: Liquidity is generally referred to the ability of an entity to meet its short term obligation or in other word the ability of a company to convert assets into cash. The term short term is basically known as those obligation which matures within one year period of time. Short term is also sometimes regarded as operating cycle: buying, manufacturing, selling and collecting. Liquidity is very much equally important for existence of a company. A company which cannot pay its creditor on time or cannot meet its short term expenditures will easily become insolvent or bankrupt. Moreover, companies operation and reputation will be in huge danger if the firm is unable to meet its short term obligation. Lack of sufficient cash on hand may affect company to lose some incentives from suppliers which will result in higher cost of goods or services. Thus, higher cost will result in less amount of turnover and profit. Therefore, companies always consider liquidity as an important factor and they always try to retain sufficient amount of liquidity. Nevertheless, there is not any standard procedure with regard to company liquidity requirement but mostly it depends on nature of business, location of the business, scale of operation and so on. (Avadhani,V.A. 2010) Liquidity is one of the major concerns for users while making any sort of deal with the company. Every stakeholder is interested in companies which has higher liquidity. Suppliers will only deal with the company when they know that their money will be received in specified time and the company is able to provide money for their good and services provided. Shareholders are interested in profitability, however they know higher liquidity will give the company the opportunity to get incentives from suppliers which will result in lower cost of goods and services and finally higher profit and dividend or capital gain. Lastly, Bank and other financial institutions always consider companies liquidity position before signing any sort of contract or loan agreement. The liquidity position of a company can easily be understood by looking at it financial statements. Current asset and current liability are the areas which locate the company liquidity position. In order to understand the liquidity position of a company, a number of ratios can be used. These majors are Current Ratio and Quick Ratio. (Singh, Y.P. 2007) Profitability and its Importance for business survival: Profitability is the amount of revenue exceed from its relevant expense. Generally both profitability and liquidity are equally important factor for survival of a business. However in the short run a business need to be liquid enough to proceed with its operation but in the long run profitability comes into consideration. Business which are not profitable in the long run will just simply become insolvent. There is an inverse relationship between profitability and liquidity. The higher profitability the less liquid will be the company. This can best described in the following example: If the asset side of a company balance sheet is arranged in a sequence of liquidity, we will get the following order. So if we see the above order, as we go from top to bottom the liquidity decreases. However, profitability is totally vice versa. Fixed assets are more profitable for the companies as compare to receivables, securities and cash. Higher liquidity will result in lower risk and lower profit. However, lower liquidity will result in higher risk and higher return. As a result, there is a trade off between profitability and liquidity. Therefore, the role of managers become more dominant to set certain targets which could achieve both partially so that the business can maximize its profit while meeting its obligation successfully. Working Capital Management to reduce risk of Liquidity problems: Working capital is the difference between current asset and current liability. And this helps us to understand the position of a company from liquidity point of view. Based on the above definition, working capital of a company can take one of the following forms. Positive working capital: current asset is greater than current liability Negative working capital: current asset is less than current liability Zero working capital: when current asset equals current liability It is generally accepted that higher the positive working capital, better will be the firm liquidity position.Furthermore, managing working capital is not just related to current asset and current liability but it also relies on fixed assets and long term funds. (Satyaprasad, B.G. Raghu, G.A. 2010) Factors which determine working capital: There are various factors which determine the amount or level of working capital for a particular business. These factors are positioned in the following diagram:11.png Source: Satyaprasad, B.G. Raghu, G.A. 2010 Financing of Working Capital and Liquidity: Once the size of working capital is determined, then the management of the company need to decide the financing of working capital. There are three major policies to finance working capital called conservative policy (Approach A), Average policy (Approach B), and Aggressive policy (Approach C). If a company invest huge amount of money on current asset rather than fixed asset then it is considering conservative approach. Similarly, if the business invest average in current asset then it follows Average working capital approach. Finally, if the business is investing very less on current asset or in other word, business consider its focus on investing heavily on fixed assets then it said to be Aggressive policy or approach. These approaches are best described in the following diagram. (Satyaprasad, B.G. Raghu, G.A. 2010)1212.png Source: Satyaprasad, B.G. Raghu, G.A. 2010 Working capital management is also referred to operating efficiency. It all about How efficient the management of a firm could manage its inventory, receivable and payables to reduce short term liquidity problems. The best operating firms never want to have inventory sitting idly in a warehouse for months or years, and at the same time they never run out of product when it comes to selling point of view. Companies are on buying products, raw material from suppliers on credit term and the more the period available to pay off its debt for a company, the lesser liquidity problems will arise. Similarly, companies sell products or services to customer. The period of time the company receive their money from customer also have a huge impact on the liquidity of a firm. Therefore, Companies need to consider several ratios such as Inventory turnover, payable turnover, and receivable turnover in order to reduce the risk of liquidity. Nevertheless, operating efficiency and ratio analysis reduce the liquidity problems in short period of time. (Money-Zine. 07.02.2013) REFRENCES Atrill Peter, McLaney Eddie. (2011). Financial Accounting for decision Makers, sixth edition. Published by Pearson Education Limited Avadhani, V.A. (2010). International Financial Management. Management of Longterm International Financing. Published by. Himalaya Publishing House Catalogue Pearsoned. Accounting Rules and Regulation. Accessed by 02.09.2013. followed by https://catalogue.pearsoned.co.uk/assets/hip/gb/hip_gb_pearsonhighered/samplechapter/Dysonch2.pdf Elliott. B and Elliott. J. (2008). Financial Accounting and Reporting 12th Edition. Finch Clare. (2008). A studentacirc;s guide to International Financial Reporting Standards Second Edition. Published by: Kaplan Publishing UK Kern Andy. (2010). Transparent Value See the Market Clearly. The Importance of Discounted Cash Flow Valuation. Retrieved from https://www.rbpinstitute.com/PDFs/how-is-rbp-used/The%20Importance%20of%20Discounted%20Cash%20Flow%20Valuation.pdf Money-Zine. Effeciency Ratios. Accessed by: 07.02.2013. followed by: https://www.money-zine.com/Investing/Investing/Efficiency-Ratios/ Satyaprasad, B.G. Raghu, G.A. (2010). Advanced Financial Management. Working Capital Management. Published by Hamalaya Publishing House Sharma, S.P. (2008). Advanced Financial Management : Modern Methods and Techniques. Published by Paradise Publisher Singh, Y.P. (2007). Accounting and Financial Management for I.T. professionals. Published by New Age International. Pp 120-130. Ramagopal, C. (2008). Financial Management. Published by New Age International Bibliography: Desai, Vasant. (2009). Financial Markets and Financial Services. Published by: Himalaya Publishing House Financing Micro, Small, and Medium Enterprises (2008): An Independent Evaluation of IFCs Experience with Financial Intermediaries in Frontier Countries. International Financial Corporation. Published by World Bank publication. Gordon, E. Natarajan, K. (2010). Financial Markets. Published by Himalaya Publishing House Koutmos, Gregory. (2007). European Financial Markets. Published by: Emerald Group Publishing Ltd Smith, Barry. (2010). Introductory Financial Accounting. Published by: Open University Press. Temte, Andrew. (2005). Financial Statement Analysis. Published by: Dearborn Trade, A Kaplan Professional Company

Theories of Teaching and Learning and their Impact on the...

Theories of Teaching and Learning and their Impact on the Classroom Environment Although there are many theories of teaching and learning, this essay will be focusing primarily on professionalism, cognition and language, cognitive views of learning and behaviourism, and how they individually and collectively impact the classroom environment. A professional teacher encompasses essential characteristics to teach at their highest level. They continue to learn throughout their teaching careers and constantly assess themselves and their students. Professionals also have the ability to make decisions in ill defined situations (Eggen Kauchak, 2010, p. 5) , showing their knowledge and understanding of their students, teaching and the†¦show more content†¦The way students think about the world they live depends on their maturity and perhaps even more significantly on their experiences (Eggen Kauchak, 2010. p. 20) . This is all connected to development, and the three factors affect ing development, namely, experience, learning and maturation. It is why younger students dont comprehend to the extent of older students, or why through experience, a student may know more than his or her peers. It is referred to as cognitive development. When the human brain and cognitive development are explored we can see why maturation is so important to a students learning and understanding. To understand cognitive development more accurately, a deeper and explanation of how the brain deals with provided stimuli, and also why maturation has such an impact on learning is needed. The brain contains neurons that are made up of dendrites and axons. Dendrites are a part of neurons that receive messages from other neurons, these make up the learning capabilities of the brain. Axons are components of neurons that transmit outgoing messages to other neurons. To allow these messages to be transmitted there are tiny spaces between the neurons called synapses. Explaining this further, y oung childrens brains create new synapses for very new experience they encounter, however, as they grow, and information is correlated, only the ones needed remain. If the brain is stimulated it will retain moreShow MoreRelatedLearning Is Viewed As One Of The Most Important Interactive Activities1643 Words   |  7 Pages Learning Theory Paper Kimberlyn Boddie EDUC 2130: Teaching Learning Professor: George Darden November 1, 2015 Learning is viewed as one of the most important interactive activities in which children engage. Although most learning occurs outside of the school setting, it is the heart of the educational process. Psychologists and philosophers searched to understand the true nature of learning, why and how learning occurs at different stages in life and how it can haveRead MoreAed 200 Classroom Mgmt Paper1027 Words   |  5 PagesAssignment: Classroom Management Paper June 6, 2010 Aaronita J Morgan AED/200 Instructor: Junett Johnston The principles of behaviorism can be useful in facilitating learning within the classroom. Behaviorism offers a particular perspective on how learning occurs and how teaching impacts that process. B.F. Skinner argued that, â€Å"A behavior is more likely to reoccur if it has been reinforced or rewarded. Thus reinforcement can be used to strengthen existing behaviors, asRead MoreCritical Thinking And Problem Solving Skills1648 Words   |  7 Pageswith the integration of learning theories, pedagogies, transformative learning spaces, behavioural management and most importantly; the evolution and role of technology. Learners within the 21st Century are experiencing an education where they are taught to collaboratively communicate and construct new understandings, while acquiring higher order thinking skills to apply beyond the classroom environment. This essay will examine pedagogies and theories regarding the impact upon the quality of educationRead MoreA Personal Philosophy Of Education Essay1164 Words   |  5 Pagesof the professor is critical for meaningful learning to occur. Self-knowledge through reflection allows the professor to embrace teaching through the eyes of a scholar; thus providing a diverse learning environment supporting engagement and motivation of the learner. This paper describ es a specific academia’s mission and vision and why it resonates with me. This paper also explores my personal philosophy of education, ascertaining the learning theory I identify with the most. Mission and VisionRead MoreTheories Within the Classroom Environment Essay1477 Words   |  6 PagesThe foundation of a classroom setting is based on theories that enhance student learning, have a positive impact on the classroom environment and may â€Å"provide valuable guidance for teachers† (Cooper, 2006, cited in Eggen and Kauchak, 2010). Even though teaching is about what a student is taught, there are certain practises that are used to get the most out of students without the student realising. Experts in the field have developed different theories that aim to provide an answer as to how andRead MoreTeaching Philosophy, Theories, And Pedagogies Work For Your Teaching Style Essay1618 Words   |  7 Pagesdiscover what teaching philosophy, theories, and pedagogies work for your teaching style. â€Å"The best way to teach† is unique to each individual teacher. Even so, there are some aspects of teaching that are important to being an effective teacher. Some of the facets I will be discussing include understanding the Concordia University Educator as Professional Decision Maker, Reflective†¨Practitioner, and Adaptive Expert conceptual framework, learning theories to consider, and effective classroom practicesRead MoreMaslow s Hierarchy Of Needs Theory Essay1464 Words   |  6 PagesAbraham Maslow Maslow’s hierarchy of needs theory has made a major impact in education and within classroom management within our schools. Maslow takes on a holistic approach to education and learning. He looks at the entire physical, emotional, social, and intellectual qualities of an individual and how they impact on learning. According to Maslow s hierarchy theory, the work of the classroom teacher is obvious. Before a student s cognitive needs can be met they must first fulfill their basicRead MoreExploring The Potential Impact Of A Classroom Learning Environment And Faculty Teaching Approaches1473 Words   |  6 PagesIntroduction â€Å"A learning environment is all of the physical surroundings, psychological or emotional conditions, and social or cultural influences affecting the growth and development of an adult engaged in an educational enterprise† (Hiemstra,1991, p. 8). The purpose of this analysis paper is to explore the potential impact of a classroom learning environment and faculty-teaching approaches on the student learning in higher education institution and answer the following question: Is it the learning environmentRead MoreBest Practices Of Brain Research For Teaching Primary Readers Essay799 Words   |  4 Pagesinterests, learning styles, and preferences. Brain research and studies have been performed to determine how students learn. These studies can help educators ensure they are providing their students with enhanced instruction that meets their individual needs. Best Practices of Brain Research For Teaching Primary Readers Author Tamara Lee Opalek examines current brain research completed within the past ten years. Opalek discusses diverse students and their performance in the classroom. AccordingRead MoreTeaching And Learning Theoretical Framework Essay1694 Words   |  7 PagesJoseph Joubert. As a teacher I will learn from teaching my students. I will develop a more in depth understand and possibly a view from a different perspective. My philosophy of teaching is written from the perspective of a graduate school student. I have not yet begun my career in academia. I expect my philosophy to develop over the years and change with experience. I pray it does because if it does not, something is terribly wrong. Teaching/Learning Theoretical Framework The Theoretical framework

Bric Free Essays

The emerging economics, the so-called BRICs: Brazil, Russia, India, and China are predicated to be global players in next few decades. In being the world’s top global players these countries must realize that in order to become a true global power they will have to take on greater social responsibilities that will deal with ethical concerns. An increasing number of companies are moving production to the BRICs in order to take advantage of generous tax incentives, high productivity rates, and cheap labor. We will write a custom essay sample on Bric or any similar topic only for you Order Now For example, Wal-Mart and Bharti Enterprises, a leading Indian cell phone operator, plan to open hundreds of Wal-Mart superstores across India by 2010 (International Business Environments and Operations, Applegate, Austin, and Soule 2009 pp. 219). However, with the BRICs emerging as economic powerhouses and the increasing number of foreign counties increasing to do business with them ethical rules must integrate into their business practices for the BRICs to have an impact on the whole world. Brazil has been an aspiring contender in the up and coming emerging counties but it has been struggling for decades because it has struggled to achieve expectations due to problems in income equality, productivity, and education. In order to obtain the status as one of the world’s leaders these social responsibilities must be addressed and corrected. The emergence of the BRICswill challenge the well-being and sustainability of the global environment. China is one of the pillars of the global economy, but controversies surround China’s future growth because of the controversy surrounding Chinese labor practices or tainted imports traced back to Chinese suppliers. In addition to the surrounding labor and tainted imports our Western-centric view of the world and current media restrictions in China the world’s largest country remains mysterious in many ways. Because of this, the development of a greater focus on corporate social responsibility in China has gone somewhat unnoticed. Chinese government has acted with some hesitancy in years past to fully embrace a more updated idea of corporate social responsibility because of fears such as added costs to exporting goods; however the situation has now changed. Not only are there new proposed regulations that foreign companies must submit their own sustainability reports within China, but various sectors within the Chinese economy have embraced both domestic and international standards to help propel Chinese businesses to greater heights around the world. ttp://www. chinacsr. com/en/2009/02/23/4572-how-far-can-chinese-companies-take-corporate-social-responsibility/. Russia is faced with incurring concerns with ethical issues that is attributed to their uncertain weak and corrupt government and the emergence of widespread market activity in Russia. Bribery has become a way of business in Russia. According to several recent surveys and interviews with dozens of ordinary Russians, it has surged in scale and scope in recent years under the presidency of Vladimir Putin. The prevalence of corruption and crime in business affairs has been generally recognized as a major cause of concern. Speculation about whether the movement toward a legitimate market economy can be sustained without a foundation of supportive institutions has been justifiably raised. The development of a system of ethical business practices in Russia process is needed to create a civil society along with becoming a global world leader. India is well aware of their involvement in corporate social responsibility to gain a position as one of the world’s strongest leaders. In terms of government rules and regulations, Jagdish Sheth, executive director of the India, China and America Institute and a professor of marketing at Emory University said that in India, â€Å"the government acts as a gatekeeper rather than an enabler, with slow approval, a complex bureaucracy and corruption. Enforcement is also lax† (Sheth, 2007). India has enacted several laws pertaining to child labor laws, environmental, and right to information and corruption laws however there are low levels of government capacity for law enforcement and implementation in India, causing relatively high levels of corruption, but other laws were enacted to give the general public right to government information which was meant to promote transparency and responsibility in the work of all governmental institutions. There is a strong belief in corporate social responsibility in India,† Sheth said. He also noted how Indian management style differs from that in the West: Decisions are made by the person at the top, not in a participatory way. And there is what he called a caste system by education. http://www. scu. edu/ethics/practicing/focusareas/business/conference/2007/presentations/sheth. html How to cite Bric, Papers

Heroism in Shooter and Water Margin Essay Example For Students

Heroism in Shooter and Water Margin Essay In the essay, A Comparative Study on Heroism in Shooter and Water Margin, by Xiahong Wei and Jian Xu, published by Theory and Practice in Language Studies, Wei and Xu compare how cultural background can affect the two types of heroism shown in the films Shooter and Water Margin. Wei introduces the paper by explaining how movies are so strongly rooted to each respectful culture and that they are more of a representation of a culture instead of a mode of entertainment. Wei and Xu address viewing films that reflect one’s country can help people comprehend contrasting cultures and advance intercultural communication. Wei compares the two cultures by first describing the American film Shooter. It is about a man that is an expert sniper and protects the president of the United States but is hunted down after being framed of killing the Ethiopian archbishop. Bob Lee then then is hunted down by the FBI and tries to find the truth of what really happened. Wei and Xu addresses that Shooter is a typical American hero movie because it contains a soldier who is strong and does not associate himself with any groups; which is common in individual heroism. Wei indicates that individual heroism shown in American films is not only there for entertainment but also a representation of American culture. Heroes such as in Shooter are strong, brave, courageous, and wise. Through these characteristics is Bob successful in achieving the impossible. Wei analyzes the individual heroism by explaining that it has a big effect on how Americans dress, educate, and behave on an everyday basis. He indicates that American people believe to be a special group of people blessed by God and that they have the right to do anything they want to do because human rights and freedom are crucial. The people of America are all based on a individualistic mindset and even in their jobs they try to increase their network for selfish individual purposes. They display a life of independence in daily life that they don’t think about other (Wei and Xu 2). In the Chinese film, Water Margin, Wei explains that the famous film contained one hundred and eight people all with distinct cultures and classes. Though the people living along the water margin had different personalities, they were all living as one society under a cruel leadership. Even though they were all from different level of social class, they came together as one and rebelled against the cruel authority. Wei asserts that this movement by the people in the water margin is collective heroism. Unlike American heroes who have supernatural powers and fight the bad by themselves, Chinese heroes are ordinary people and come together as a group to fight the unjust. Wei describes that the definition of a true hero used to be a man who sacrifices himself for the people, but after the film Water Margin, heroes can be a collective group of people that don’t fight alone. Wei points out that collective heroism is present in Chinese culture and the society is ruled by it. The loyalty shown in Water Margin is also ever present in the Chinese society (Wei and Xu 5) Wei and Xu conclude by mentioning that in America, the movies such as shooter provides encouragement for personal improvement and individualism. While in China, collectivism still thrives in society. These kinds of movies allow people from different culture to portray an image of themselves and it allows countries to share their culture thus improving international communication.