Executive summaries of Should Small Businesses Adopt New Accounting Essay

Executive summaries of Should Small Businesses Adopt New Accounting Standards - Essay Example The AICPA financial reporting framework (FRF) revolves around various accounting terms such as debts, credit, risks, profits and losses as well as all assets and liabilities belonging to a business. Bob argues that the current financial reporting framework is an improvement of the previous frameworks. According to him, the improvement is meant to make it easier for SMEs to prepare their financial statements in a much simpler and consistent manner. For instance, with the current reporting framework business A and B can compare their financial statements over the years as they are prepared under specific guidelines as provided by the AICPA. The new financial reporting framework guides the SMEs on preparation of full financial statements. These include the statement of financial position, statement of changes in equity, statement of cash flows and statement of operations. The SMEs are also guided on how to prepare relevant notes that serve as supporting references to the financial statements. AICPA emphasizes on the need of preparing financial statements; for the benefit of the management as well as external users such as bankers and financiers. The purpose of improving on the accounting standards is to ensure that the financial statements of a business capture its economic performance, the economic obligations, resources and equity as well as changes on the same. Bob recommends adaption of this framework as it offers simpler methods of accounting. In an interview with Bob, Patrick notes that the current financial reporting framework is a bit complex for small and medium sized businesses as it entails detailed financial reporting most of which is only necessary for big industries. Bob adds that this is the main reason as to why the financial reporting framework was reviewed. He argues that they had the troubles SMEs go through in compliance with this tiring framework in mind as they redrafted

CEO compensation Essay Example for Free

CEO compensation Essay Recently CEO compensation packages have high rocketed making many people question the validity of their compensation. Many questions have been risen to find out if CEO compensation if excessive. Through this paper we will discuss why we feel CEOs in America are grossly overpaid. We will start off by talking about the ethics on the matter and then the pay-performance connection within organizations. We will also touch on the real wages of employees and how America compares to international companies. We will finish our argument with some recommendations that we feel will help make organizations as a whole better. High Pay, Low Performance Financial Crisis It is shown in several studies that high CEO pay is linked to low company performance. In the article, â€Å"Chief Executive Compensation: An Empirical Study of Fat Cat CEOs,† by Kuo and Wang they describe the connection between CEO compensation and the financial crisis in 2008. As stated in the article, â€Å"the incentives built into the compensation plans of many financial firms are one of the fundamental causes of the financial crisis and surprisingly receives little public attention†. They go on to say, â€Å"Top executives of large banks or investment banks have encouraged the excessive risk-taking by top managers, leading to the financial crisis. † Kuo and Wang also explain how the incentives of executives are link to the short-term performance of securities that are traded. This sort of behavior is not in the stakeholders’ best interest. The CEOs in this case are clearly not interested in what is best for the company, but merely looking out for themselves. Instead of focusing on long-term competitive advantages and achievements, the CEOs are looking to make a quick buck for themselves. Another resource we used was that of Lucian Bebchuk and Jesse Fried. They have a very similar take on the topic, by also stating that trading securities was the beginning to the financial breakdown in American in the late 2000s. â€Å"During the extended bull market of the 1990s, executives’ compensation at public companiescompanies whose shares are traded on stock exchangesoared to unexpected levels† (Bebchuk and Fried, 2004, pg. 1). As you can see there is a strong connection between firms that trade securities and the breakdown of the market. Growing Trends The overcompensation of CEOs in America is nothing new, according to our research this trend dates back to the 1970s. â€Å"The review on CEO compensation by Frydman and Jenter (2010) shows that there was a dramatic increase in the compensation levels from the mid-1970s to the early 2000s in the U. S. Especially in the 1990s, the annual growth rates were more than 10% by the end of the decade† After researching the topic, we were surprised to find out just how much CEO pay has increased in a very little time-span, â€Å"Between 1992 and 2000, the average real pay of chief executive officers of SP 500 firms more than quadrupled, climbing from $3. million to $14. 7 million† (Bebchuk and Fried, 2004, pg. 1).   Star Athletes It has been said that CEOs are comparable to star athletes; therefore, they deserve the substantial increase in their pay. However, the majority of the CEOs that are contributing to this big picture problem are not working for their â€Å"team†. If CEOs were taking these risky investments to better the company, that is one thing, however, the link directly pointing to incentives tells a different story. Defenders of CEO compensation are also forgetting that along with the large compensation packages there is a great deal of retirement funds, 401ks, and stock retained within the company. The large payment of athletes could be contributed to the fact that they are not getting post-retirement benefits, like those of large corporation CEOs (Bebchuk, Fried, 2004 pg. 20-21). Employee’s Living Wages One of the biggest concerns with the increase of CEO compensation is the steadily decreasing real wages of employees. Compensation of CEOs far outweighs that of employee pay. In 1991, the average large-company CEO received approximately 140 times the pay of an average worker; in 2003, the ration was about 500:1† (Bebchuk and Fried, 2004, pg. 1). CEO Compensation and Virtue Ethics Another way to look at CEO compensation is to see if it agrees with virtue ethics. There is Aristotelian virtue oriented approach to ethics and was applied to business by Robert Solomon. In this, Solomon a rgues that business is primarily a practice, in which a community of individuals engages in a cooperative endeavor to deliver goods and services for the good of society. In this practice certain virtues such as integrity, moral courage, and justice are essential to the practice of business. Also, in virtue ethics justice implies that executive pay should be more modest across the board, regardless of company profitability. (Kolb, 2006, pg. 101-115) CEO compensation is not â€Å"fair† top 25 CEOs had an average annual pay of $32. 7 million, which is more than 900 times the annual salary of the typical US worker. In an era which many companies are cutting costs by laying off employees, such compensation seems to be unjust. Solomon argues that workers may not be loyal to someone they perceive as being unfair. At some level, trust and loyalty are needed for a company to prosper. Without these, this company will be left with a group of resentful, unhappy employees. Even if the CEO’s employees are â€Å"satisfied† with their minimum wage salary this satisfaction does not make the CEO’s actions any less just since he or she could afford to pay their employees more. At this point the CEO is taking advantage of his or her workers and being selfish. Companies give bonuses to CEOs even as employees and managers are being laid off. An example is one CEO and chairman of the board made $8. 9 million in 2003, which was the same year his company lost $463 million and he slashed the workforce by 20 percent, or 6,000 workers. Doing things like this can poison a corporation and completely divide a company. Instead of CEO’s comparing compensation packages to to other employees of their companies, CEO’s are comparing their compensation packages to the other CEO’s, which is not a standard for just compensation, since the issue of inequality often arises within a particular corporation. The success of a company is a team effort and not just all done by the CEO. Without the lower level employees a company will not be able to be successful. CEOs do have greater responsibility, but corporations are too large and unwieldy to be governed by just one individual. By spreading the CEO’s compensation package it could allow for employee raises and benefits which could help motivate employees and make them happier. Executives can be paid well without being paid excessively. A CEO is not some isolated individual seeking his or her own ends independently of other members of the corporate community; he or she is part of a whole. Therefore CEOs should not be paid like they are an individual who does everything on their own. A CEO’s role is defined by the corporation and the corporation has an overall purpose to benefit society. CEOs taking less in their compensation packages and spreading them throughout employees can actually help society. Our economy is down and needs to be improved. In order to improve it we need people to start spending money. However, in order to spend more money people need to make more money. If CEOs distributed some of their compensation packages to their fellow employees they could have more money to spend and help increase the level of our economy. International Compensation When comparing CEO compensation in the United States to other major countries the statistics are quite glaring. A study done by consulting firm Towers Perrin estimated pay as of April 1, 1999, in industrial companies with approximately $500 million in sales. CEOs in the United States earn over $1,350,000 compared to Japanese, $485,000, German $530,000, French, $570,000, and UK, $665,000 (Balsam, 2002, pg 277). Rules for governing executive compensation vary from across the globe. In companies such as Germany and Finland it is illegal to to use stock option to compensate executives until 1998, unlike the United States, which stock options are a major part of their compensation package (Balsam, 2002, pg 277). It was noted that in 1997, Disney’s Michael Eisner single handedly out earned the aggregate paychecks of the top 500 CEO’s in the UK. CEOs in the United States earn 45 percent higher cash compensation and 190 percent higher total compensation. Also median base salary is 30 percent higher in the United States while United States median bonuses are more than triple of that in the UK as well (Balsam, 2002, pg. 288). When comparing corporations in Canada with the United States there is a marked difference between the two countries in both the level and structure of CEO compensation. During the 1993-1995 period Canadian CEOs earn lower pay, with the median CEO earning $560,000 in US dollars compared to $2. 5 million for corporations in the SP 500. Salary made up a higher proportion and bonuses and options a lower proportion of the compensation package for Canadian corporations. Overall, the relationship of pay to performance is weaker in Canada than in the United States. Despite the drastic differences in CEO compensation between the United States and other countries there are several reasons for these differences which stem from being cultural, some regulatory, and others due to taxation. In many countries it is taboo to earn the amount of money that American executives make. Some countries have their own laws and regulations that make stock options less valuable and limit the overall compensation of CEOs. Lastly, restraints and taxes can affect compensation. An example is that few Japanese and German corporations were able to issue stock options. Japan is limited to owning only 10 percent of their stock, which is a large amount but much less than companies in the United States (Balsam, 2002, pg 280). Overall, the United States drastically pays CEOs higher compensation than the rest of the world, on average. It is easy to see how wide the gap actually is when seeing the statistics. Several reasons contribute to the difference in CEO compensation. However, with the success of international companies and paying CEOs less compensation, we in the United States can infer that CEO compensation in the United States is too high. Recommendations After taking a closer look into the argument and debate of CEO compensation we believe there are several ways to lessen the gap between CEOs and employees. One idea we had was to link bonuses to the company stock prices. This way, CEO pay will be more based on yearly performance of their company. Another suggestion we had was to offer more modest compensation packages, and to spread the wealth CEOs no longer make throughout employees to add to their salaries, benefits, and improving employee working conditions. Out last recommendation was for board of directors to make more restrictions on CEO pay, such as limiting stock options. Conclusion After all of our research we strongly believe that salaries of CEOs are incredibly excessive. CEOs whose performance did not match up, to the steadily decreasing real wages of employees

Effect of DDT on the Environment

Effect of DDT on the Environment Effect of DDT to This Environment Pesticides became a bad forebode in agriculture since mid-twentieth century. In agriculture, pesticides are an important element to control the major vector-borne diseases such as malaria and visceral leishmaniasis. There are 4 major groups of pesticides: insecticides, rodenticides, herbicides and fungicides. Although pesticides are vital to protect the crop and also human health in the whole world, but due to their detrimental effects on natural ecosystems more deaths are cause by the pesticide poisoning than infectious diseases. Hence, we should focus more on the short and long term harms of pesticides on the environment. Most of the pesticides are highly toxic and will have immediate adverse effects on human health and also wildlife. Besides that, pesticides which spray on the plant at ground will easily contaminate the soil, water and air. The chronic consequences cause by pesticide including neurotoxic, carcinogenic, immunotoxic, hormonal and reproductive effects. One of the hig hly problematic pesticides is the insecticide dichlorodiphenlytrichoroethane also known as DDT. 1,1,1-trichloro-2,2-bis-(p-chlorophenyl)ethane is the scientific name of DDT and the chemical formula is C14H9Cl5. DDT is build up by 14 carbon, 9 hydrogen and 5 chlorine atoms (Figure 1). Figure 1. Molecular structure of DDT. In its nature form, DDT is crystalline powder with odorless to slightly fragrant in white color. The melting point is at 108.5ËÅ ¡C, and boiling point at 185ËÅ ¡C. DDT is highly insoluble in water but is soluble in most organic solvents. This molecule is lipophilic and partitions readily into the fat of all living organisms. Biomagnification and bioaccumulation in the food web make this molecule become more negative impact to the organisms. When the DDT break down the product will be 1,1-dichloro-2,2-bis(4-chlorophenyl)ethane (DDD or TDE) and 1,1-dichloro-2,2bis(4-chlorophenyl)ethylene)(DDE). These two compounds are actually also present everywhere in the environment and are more persistent than the parent compound (Ritter, Solomon, Forget, 1996). DDT is an organochlorine insecticide and is considered a persistent organic pollutant (POP) (PAN Germany for PAN International, 2009). According to Turusov et al. (2002), in year 1874, DDT was first synthesized but until year 1943 its insecticidal properties just discovered and in 1943 large-scale industrial production are started. DDT is contributed to worldwide use and widely accepted by people because of its low price and effectiveness to control malaria and typhus during and immediately after World War II. In order to control the agriculture and forest pests, much more DDT was used after 1945. About 400,000 tons of DDTs were used yearly in this world at 1960s, and 70 – 80% was used for agriculture (Turusov et al., 2002). DDT is a persistent, widespread environmental contaminant that causes significant anatomical, behavioral abnormalities and physiological in humans and also wildlife (Iwaniuk, et al., 2006). In January 1970, the first country – Sweden had banned the use of DDT. In the same year, the former Union of Soviet Socialist Republics (U.S.S.R) was prohibited all DDT and DDT-based products for use as pesticides because of their destruction and persistence effect by bioaccumulation and the carcinogenicity. The production and use of DDT in agriculture were banned too in 1981, but the use for public health purposed was still allowed. In year 1972, most uses of DDT were banned in other countries. The use of DDT has been banned in 34 countries and severely restricted in 34 other countries. Argentina, Australia, Bulgaria, Canada, Colombia, Cyprus, Ethiopia, Finland, Hong Kong, Japan, Mozambique, Lebanon, Switzerland, Norway, and USA are the countries that have banned DDT. The countries that have severely restricted its use include Thailand, Israel, Panama, Kenya, Mexico, Belize, India, Ecuador and the EU (Ritter, Solomon, Forget, 1996). DDT is not very strong toxic like most of the organochlorine insecticides, but this chemical is widely use and spread (Ritter, Solomon, Forget, 1996). In Turusov et al. (2001) study showed that the process of biodegradation of this chemical is very slow and it will persists for a long time in the environment. DDT will likely to accumulate in the food chain and in the tissues of living organisms. When expose to DDT and digest it, this molecule will store in all the tissues, especially in fat. Bioaccumulation occurred by accumulate the DDT from small concentration to high concentration in the food web. Due to it widespread, uncontrolled, and intensive use, this chemical has resulted in worldwide pollution. In the body of all birds and fishes analyzed in the study of Turusov et al. (2001), DDT residues are found even in those living in desert areas or in the depths of the oceans. Human are most likely to be exposed to DDT from the food they eat. Almost all the meat, fish, and dairy products are contaminating with DDT. Hence, by eating, breathing or touching the products which contaminated with DDT, this chemical will easily absorbed into our body. After ingested, DDT will convert into several breakdown products called metabolites that included DDE and stored in the fatty tissues. For the pregnant women, DDT and DDE can be passed to the fetus by breast feeding (Centers for Disease Control and Preventation, 2009). If human expose to high concentration of DDT, the symptoms like vomiting, tremors or shakiness, and seizures will occur. Besides that, DDT also considered a possible human carcinogen. Birds usually played a major role in creating awareness of pollution problems. Birds are most probably believed to expose to DDT by ingestion (Enrlich, et al. 1988). The pesticide can be swallowing by the birds directly or the birds eat the contaminated prey. Besides that, they may also ingest pesticide residues off feathers while preening, or they may drink or bathe in contaminated water. When the birds expose to aerially spread DDT, the chemical will absorbed through the skin or inhaled into the body (Edwards, 2004). DDT and DDE are persistent as they tend to concentrate as they move through the food chain (Figure 2). In the marine communities, the contaminated planktons are eaten by small fishes, and then bigger fishes will consume small fishes. DDTs are passing from a small concentration in planktons to bigger fish. DDT will store in the fatty acid of fishes, when fish-eating birds consume the fish, all the bio accumulated DDT will pass into the bird’s body. Most of the DD T from numerous fishes ends up in the body of few birds. Bioaccumulation of DDT in birds high on food chains occurs not only because there is usually reduced biomass at each step in those chains, but also because predatory birds tend to live a long time. DDT take in only a little per day, but when they keep most of what they get and they live many days (Deinlein, n.d.). Figure 2. Bioaccumulation of DDT. DDT with high concentration does not usually kill the bird outright. However, DDT and its relatives will alter the bird’s calcium metabolism in a way that results in thin eggshells (Edwards, 2004). Since the eggshells are too thin and are unable to support the weight of the embryo of bird, heavily DDT-infested Brown Pelicans and Bald Eagles tend to find omelets in their nests. DDT resulted in the decimation of the Brown Pelican populations in much of North America and the extermination the Peregrine Falcon in the eastern United States and southeastern Canada. Shell-thinning caused lesser declines in populations of Golden and Bald Eagles and White Pelicans, among others (Enrlich, et al. 1988). Fortunately, the scientists are able to figure out the cause of the breeding failures in time, and the use of DDT was banned almost completely in the US at 1972. The Arctic, polar bears also become one of the victims of DDT. Chemical pollutants are carried towards the Arctic Ocean by the great continental rivers of Russia and Canada. DDT that in the sea are wafted northwards by the currents. Even the DDT molecule in the air will be carry by winds to the Arctic, where they condense in the cold and fall to the ground in snow or hail. The most direct and effective way to bring DDT that will cause an effect to polar bear and its offspring is biomagnification. DDTs are biomagnify as they move up the food chain from the small plankton to polar bear. As polar bear is the carnivores, it accumulates the most concentrated amounts of them. Before the hibernation, polar bear will consume large amount of fish to store as fat. DDT which accumulates in the fish will then store in the fatty tissues. When the polar bear start to use the fat during hibernation, DDT is being release and causes the death. In addition, DDT will also reduce the polar bear capacity to bread and lower their immune system (Polar bears: Walking on thin ice, 2006). The available epidemiologic and scientific data indicate that the presence and persistence of DDT and its metabolites worldwide are still problems of great relevance to public health. It has been debated at the United Nations Environment Program whether DDT should have been totally banned together with 11 other persistent organic pollutants. However, the total ban of DDT was sharply criticized in South Africa. This is because, a temporary total ban on the use of DDT for indoor spraying resulted in a sudden increase in malaria. Now, 11 countries in Africa, 7 in Asia, and 5 in Latin America still use DDT for vector disease control (Turusov et al., 2002). There is a general consensus that limited and strictly controlled use of DDT should be allowed for public health purposes, in particular where other effective, safe, and affordable alternatives are not available, and the benefits are clearly far superior to possible risks. In conclusion, to solve the problem of DDT an efficient pestici des that do not have the negative properties of DDT and its metabolites should be sought with the goal of replacing DDT completely. References Centers for Disease Control and Preventation (CDC), (2009). Retrieved from http://www.cdc.gov/biomonitoring/pdf/DDT_FactSheet.pdf Deinlein, M. (n.d.). Smithsonian Migratory Bird Center. When it comes to pesticides, birds are sitting ducks. Retrieved from http://nationalzoo.si.edu/scbi/migratorybirds/fact_sheets/fxsht8.pdf Edwards, J. G. (2004). DDT: A case study in scientific fraud. Journal of American Physicians and Surgeons, 9, 3, 83-88. Ehrlich, P. R., Dobkin, D. S., Wheye, D. (1988). DDT and birds. Retrieved from https://web.stanford.edu/group/stanfordbirds/text/essays/DDT_and_Birds.html Iwaniuk, A. N., Koperski, D. T., Cheng, K. M., Elliott, J. E., Smith, L. K., †¦, Wylie, D. R. W. (2006). The effects of environmental exposure to DDT on the brain of a songbird: Changes in structures associated with mating and song. Behavioural BrainResearch, 173, 1-10. Polar bears: Walking on thin ice. (2006). Retrieved from http://www.independent.co.uk/environment/polar-bears-walking-on-thin-ice-523207.html Ritter, L., Solomon, K. R., Forget, J. (1996). Persistent organic pollutants. Retrieved from http://www.chem.unep.ch/pops/ritter/en/ritteren.pdf Turusov, V., Rakitsky, V. Tomatis, L. (2002). DIchlorodiphenytrichloroethane (DDT): Ubiquity, persistence, and risks. Environmental Health Perspectives, 110, 2, 125-128.

Air Pollution in Mexico City Essay examples -- Environment Polluted Es

Air Pollution in Mexico City Mexico City adds an estimated one million new residents each year, resulting in one million new aggravates to the city’s already abominable air quality (Collins, 119). Over the span of a generation, Mexico City’s air has gone from being one of the world’s cleanest to one of the world’s most polluted, as well as the most polluted in its country. The average visibility in the city is down from almost 100 km in the 1940s to only 1.5 km today, removing the once beautiful landscape of the surrounding snow-capped volcanoes (Yip, 1). More significantly, however, Mexico City’s air problems have resulted in a notable decrease in the health of its residents, particularly its children. There are a variety of reasons for the decline in air quality, including factory emissions, suspended particles, vehicles, as well as problematic geographic hindrances. Fortunately, Mexico City is doing a lot in response to the problem, including vehicle control, mas s transit improvements, required industry emission reductions, and an investing in research and education programs. Regardless of these actions, however, Mexico City’s air is still significantly affecting the quality of life for its residents, and the city must continue to make changes in order for real progress to occur. Vehicles are responsible for up to eighty percent of air pollution in Mexico. There are close to four million automobiles, buses, and trucks in the city, the average of which is ten years old, and thus in poor repair with ineffective emission controls. Emissions are increased by the excessive traffic compressed into narrow streets with few parking spaces, requiring low-speed cruising (Collins, 125). Even new engines oft... ...ificant goals set for measured air quality improvements, so while their future is not yet clear, it is at least a little less smoggy. Works Cited Collins, Charles, and Steven Scott. "Air Pollution in the Valley of Mexico." Geographical Review 83 (1993): 119-133. Hibler, Michelle. "Taking Control of Air Pollution in Mexico City." International Development Research Center. 12 Aug. 2003. . Loomis, Dana, Margarita Castillejos, Diane Gold, William McDonnell, and Victor Borja-Aburto. "Air Pollution in the Valley of Mexico." Epidemiology 10 (1999): 118-123. "Mexico City Air Hurting Children." Health and Energy. 11 Mar. 1998. . Yip, Maricela, and Pierre Maldl. "Air Pollution in Mexico City." 14 Dec. 2002. University of Salzburg, Austria. .

Environmental protection and the social responsibility of firms: perspectives from law, economics, and business Essay

Responsible businessIntroductionResponsible business concerns itself with allowing and ensuring the application of social and moral principles in business decision making. Through the definitions, the following principles of responsible business can be drawn: Business for profit: When people engage in business, they are expecting to receive profit. The first principle of responsible business lies in the fact that it is just and in fact expected to make profit and for such profits to increase as more experience is gained in business. As such in the pursuit for responsible business, profits should not be left behind or side stepped, strategies employed by business managers, and even mechanisms used in the business need to be directed towards generating profits. The reward for doing business properly lies in the excess returns received from investments on the business. Business ethics: the business operates within the concept of society, plays a part in accentuating the lives of the community. Responsible business calls for businesses to be subjected to a code of conduct. Businessmen are not exempted from being moral even as they pursue the profit. As ethics apply to all areas of life, so the same applies in business. Business needs to be done in as much honesty as is possible. If the business environment is to improve then behavior in business also needs to change and improve. Professional ethics: a responsible business is run under corporate codes. As a business continues to change and the environment within which it operates transforms, it is only responsible for such codes to continually change. Therefore, a business is defined as responsible not just within the code of business ethics but also when it operates through the professional code of ethics governing it. While ethics are general in business, professional ethics are specific and designed for that particular business. Business almost seems to operate under no particular ethics, rules and responsibilities. In many cases business persons are only concerned with the monetary value and nothing else. Responsible business on the other hand adheres to a code of conduct, set forth not just by law and moral values but also by the profession and industry within which the business operates, (Sanford 2011). Scholars agree that businesses can no longer operate as independent entities, existing separately by society. They need to uphold and be held responsible by the society. They exist as part of and in partnership with society and can therefore not ignore the societal responsibilities. Drivers of responsible businessThe natural/ ecological environmentResponsibility to the environment consists of the concern for the interaction between human beings and the natural environment as it exists. The responsibility of businesses to the environment developed as a separate factor in responsible business from the 1960’s. At the time, pictures taken from space showed vulnerability in the existence of earth and its ecosystem. Environmentalists began lobbying that animals, plants and the general ecosystem in itself had value in and of itself. As such demands on various businesses to treat these entities responsible began. The general notion of responsibility to the environment is that if businesses continue exploiting and fail to be responsible towards the environment, it will be completely destroyed and in the process the human race will also be destroyed. In the year 2009, the summit on sustainable development, brought focus to the fact that in another 50 years more than 10 billion people will be existing in the world. This is in addition to the problems currently facing the existence of earth such as rescinding existence of energy, excess carbon and a declining ozone layer (Smith 2010). The summit concluded that there is need for a green revolution to improve the status of the environment. The industrial world, at least a large percentage has failed to uphold its own responsibility towards ensuring a change in the strategies about the use of natural resources, and also the technology used to make use and exploit the natural environment. Sustainable development as responsible businessToday’s businesses are expected and in fact it is demanded of them that sustainability becomes a part of their strategy. The government and even the clients coming to business are looking for more and more evidence that the business is acting responsibly in the environment. According to smith (2010), Customers want to live in a pollution free environment, so businesses whether manufacturing or even service providing have to change the way they operate. In order to maintain a clean environment, businesses require operating with technologies that are clean and also sources of clean energy such as solar rather than coal and oil. Sustainability can be simply defined the ability of the environment to replenish itself and remain healthy for the next generations. Surprisingly by opting to use more environmentally friendly and energy efficient technologies, businesses are able to save on their overhead costs. Recycling: this refers to the ability to re-use raw materials over and over again. The advantage of recycling is that it cuts the amount of raw materials required for products and as such allows the environment to replenish itself. Normally businesses produce a lot of waste some which is very difficult to manage such as plastics. Recycling encourages the businesses to come up with processes that make use of their waste. Newton (2005) states that The concern is mainly for ever filling landfill, and therefore responsible businesses calls for either new and better ways to deposit the wastes or better yet new ways to make use of the waste. Landfills are responsible for methane production which is responsible for climate changes and damage to the ozone layer. In many western countries, recycling is not just a business responsibility but in fact a law that could attract stiff penalties. Competitive advantage: in the past, businesses have made use of Ricardo’s principle which simply encourages cost cutting measures such as cheaper raw materials, labor and even investment of capital. The cost effectiveness produces greater profits for the business. However, Gibson (2005) indicates that recent research and benchmarking with large companies such as Coca Cola and General Motors shows sustainability provides greater advantage. Organizations committed to taking advantage of best practices are also gaining a larger market share. New opportunities for product differentiation: product differentiation offers a chance for businesses to excel beyond their competitors even in the same industry. A product based on sustainability is not only considered a product of high quality but also one that is environmentally friendly and therefore more responsible even for the consumer. The market is gradually shifting from traditional products towards more energy efficient, fuel saving and alternative energy products. Testimony of this lies in the recent increase of interest and growth of the market share for products such as solar panels and energy saving bulbs. Zott (2014) shows that Responsible business in this era therefore translates to product differentiation through: †¢Use of raw materials that have been proven to have less damage to the environment †¢Companies that are setting benchmarks in terms of going beyond what is environmentally compliant. †¢Less and less wastage from the business and more recycling of the same. †¢Reduced emission of toxic wastes from the business. As many environmentalists have shown nature in itself shows the best system of sustainability. Plants for example prosper in sunlight and with sufficient moisture. They are consumed by animals and insects. Through this consumption, the animals produce waste which in turn is used to ensure fertile soils on which more plants are grown. In this same way, human beings and especially businesses are tasked with the responsibility of being eco-friendly that is use, produce, consume and transform waste into something else through recycling. Role of the government in responsible businessThe World Bank report in 2003 on sustainability emphasized the need for more structured and responsible governments to ensure sustainability. The governments are tasked with the responsibility of creating better policies and institutions through which businesses small and large alike can be held responsible. In the past, weak governments and poorly maintained social institutions have turned out to be quite costly to nature and the environment. Weak governance has brought about income inequality, political unrests and environmental disasters, (Hay et al 2005). Governments provide the legal framework through which businesses can be held responsible. Constitutions and laws of a country are often used as the back drop to determine the concern and interest of the government in securing its own environment for example. The legal framework provides laws within which every business should operate. The legal frameworks set forth by each country have been changing constantly, becoming more focused to immediate and more tragic causes of environmental degradation. Through the legal framework for example, majority of the mines and timber yards have been closed and shut down for causing damage to the environment. Governments also put in focus environmental conservation so that the activity is not just being carried out haphazardly. They provide a platform for integrating environmental concerns and responsibility into the economic and social development of the country. Through environmental policies also, there is conservation of critical natural resources. Businesses endangering such resources can face severe penalties through these policies. Governments often partner with businesses to ensure sanctuary of forests, animals that are going extinct among others. Businesses often ignore the importance of contributing to the community within which they operate. The governments of such countries ensure that majority of the profits generated from the business go back to the community. The foremost principle for all governments is increased economic growth, poverty eradication and bridging the social class gap. All businesses operating within the country need to uphold this principle. . In addition, according to Moon (2001), the government ensures that even as businesses operate they do not meddle with the rights of the nation’s citizens. The government gives power and strength to citizens who may feel powerless to fight the businesses and especially the large entities. This is not to mean that the government only has responsibility to consumers, it also ensures that businesses operate in an environment which allows them to flourish and therefore generate profits. ConclusionIt is now obvious that companies that are socially responsible and businesses that adhere to a particular code of doing business have better reputations and therefore a larger market share. The bulk of responsibility lies in the business owners ensuring that they have developed moral responsibility as the back bone on which their decision making is based. Managers and employees then have the duty of protecting the welfare of their consumers and other stakeholders which include the communities they operate within. While the main concern for business is an increase in the profit margin, those that have shown an inclination towards more responsible business strategies have attracted not just a large number of consumers but also investors. People are more interested in ensuring the growth and success of a responsible business especially with more and more of the media focusing on errors and embarrassment news featuring businesses that have failed in their responsibility. Businesses are held up to societal standards and failure to uphold them is frowned upon. Whereas there was a time when businesses could attempt to cut corners in their responsibility, today this is not an option. The government and even citizens are aware that companies and businesses operate with certain expectations and values. Employees and other stakeholders require business to be conducted responsibly. Failure to do so encourages massive labor turnouts as employees seek more sustainable businesses. Responsible business therefore cuts into all corners of conducting business from governing the contracts with clients, to those with suppliers and even the community upholding the business. Responsible business is not just a mirage of expected rules and regulations. Indeed it operates within a justice system through which governments obtain and have the power of demanding responsible business. Responsible business is part and parcel of strategic management. Each decision in the business must reflect the true responsibility and code of ethics of the business. In some cases this may require special attention being paid to particular areas of responsibility. Today, companies are going far and beyond what is expected of them in running business because they understand the importance of taking responsibility to ensure their survival. References Gibson, K. (2007).  Ethics and business: an introduction. Cambridge, Cambridge University Press. Hay, B. L., Stavins, R. N., & Vietor, R. H. K. (2005).  Environmental protection and the social responsibility of firms: perspectives from law, economics, and business. Washington, DC, Resources for the Future Newton, L. H. (2005).  Business ethics and the natural environment. Malden, MA, Blackwell.Sanford, C. (2011).  The responsible business reimagining sustainability and success. San Francisco, Jossey-Bass Smith, N. C. (2010).  Global challenges in responsible business. Cambridge, Cambridge University Press. Zott, L. M. (2014).  The environment. Detroit, Greenhaven Press Source document

Enders Game Essay

I selected this book because I was thinking that it would keep me entertained and make it so that I will not fall asleep. This was one of those books that it did not matter about what happened before it you can just start reading it from the start, so before the book began I have now idea what happened I just started to read the book and I liked it. When the book begins it starts out with ender and his brother and sister and his brother is mean and is always threatening his younger brother ender and his younger sister. In this story it is the narrator that is telling it. The setting was important because it was at Enders house at first and his older brother, bulling hem, which made ender stronger and made it so that he would look out for himself. In the beginning the author held my interest because the government shipped ender off to military school at age three. Journal Entry #2 Ender go’s to military school and he gets bullied from the start and makes a name for himself right at the beginning by braking some kids arm, so after that every one starts to put together gangs and start having gang wars in the battle rooms and in the cafeteria. There where lots of twist in this story like ender would always when the war games and he was the commander of army’s and he was just smarter than the older boys. It was pretty easy to fallow the plot if I didn’t zone out but if I did zone out than it was pretty easy to know what was happening because the story would repeat its self. The language in the book was really easy to understand there was a lot of a made up words but it was all right. The mane thing emerges in the book when it comes to the battle games and ender is better then everyone else. Journal entry #3 The climax of the story was when ender meet bean, ender was hard on bean just like how the government was hard on ender and that made bean a lot stronger. But ender and bean come together and they start to when all of these battles together. There are lots of lessons I learned about this book, I learned that life isn’t always easy and the hard things in life make you stronger. If someone talked to me about this book I would tell him or her it was a good book and I would recommend it to them because there was a lot of action in it. But the book did not meet my expectations because I do not like it when three year olds are talking like they are 25 years old I think that was a little over bored and when the three year olds are going to military school that was dome I think that he should have made them 18 because that is more realistic.

Poinsettia pH Paper - Holiday Chemistry Project

Poinsettia pH Paper - Holiday Chemistry Project Many plants contain pigments that are responsive to changes in acidity. An example is the poinsettia plant, which has colored flowers (really specialized leaves called bracts). Although poinsettias are perennials in warmer climates, most people are likely to see them used as a decorative houseplant over the winter holidays. You can extract the red pigment from deeply colored poinsettias and use it to make your own pH paper strips to test whether a liquid is an acid or a base. Poinsettia pH Paper Materials Poinsettia flowersBeaker or cupHot plate or boiling waterScissors or a blenderFilter paper or coffee filters0.1 M HClVinegar (dilute acetic acid)Baking soda solution (2 g / 200 mL water)0.1 M NaOH Procedure Cut flower petals into strips or chop them in a blender. Place the cut pieces into a beaker or cup.Add just enough water to cover the plant material. Simmer until the color is removed from the plant. (Personally, I would just microwave the chopped bracts with a little water for about a minute and allow the mixture to steep, like a tea.)Filter the liquid into another container, such as a petri dish. Discard the plant matter.Saturate clean filter paper with the poinsettia solution. Allow the filter paper to dry. You can cut the colored paper with scissors to make pH test strips.Use a dropper or toothpick to apply a little liquid to a test strip. The color range for acids and bases will depend on the particular plant. If you like, you can construct a chart of pH and colors using liquids with a known pH so that you can then test unknowns. Examples of acids include hydrochloric acid (HCl), vinegar, and lemon juice. Examples of bases include sodium or potassium hydroxide (NaOH or KOH) and baking soda solution. Another way to use your pH paper is as a color-change paper. You can draw on pH paper using a toothpick or cotton swab that has been dipped in an acid or base. The instructions for the poinsettia pH paper project are also available in French.