Corporate Governance Mechanism Essay

Executive Summary This paper will reviews the extent to which corporate governance acts as efficient tool to protect investors against corporate fraud, thus contributing to summarize the literatures on role of corporate governance on preventing occurrence of corporate fraud. In a more recent study, corporate fraud is part of earnings manipulation done outside the law and standards. Whereas, the activities covered by the terms earnings management (such as income smoothing and big bath) and creative accounting (or window dressing) normally remain within the regulations. In this regard, corporate governance mechanism, particularly effective boards, audit committees, and auditors, decrease the likelihood of corporate fraud occurs. At very last contemplation, vigilant structure within corporation as holding stakeholders interests with shift in ethics and values will likely stop greedy executives to take personal advantages. Keywords: Corporate fraud, earnings management, corporate governance, board effectiveness, audit committee effectiveness and auditor effectiveness. 1. Introduction There are a number of legal cases involving the accounting manipulation in leading companies in the United States of America (USA) and also other countries, such as Enron and WorldCom in USA, and HIH Insurance and One.Tel in Australia. These have led investors, regulators, and academics to focus on improving dimension of corporate governance to unveil that unethical financial reporting practice. Scholars commonly attribute that poor corporate governance in such companies caused their earnings manipulation. For instance, Lavelle (2002) asserts that Enron’s bankruptcy was caused by the audit committee’s lack of independence, which determined from poor governance, which is part of corporate governance mechanism. This paper will reviews the extent to which corporate governance acts as efficient tool to protect investors against corporate fraud, thus contributing to summarize the literatures on role of corporate governance on preventing occurrence of corporate fraud. In addition, from the practical point of view, this paper is expected to provide information on how board and audit committee, auditor and regulator indicate and anticipate which firm’s corporate governance mechanism that cause the likelihood to fail to prevent commit corporate fraud and loose stakeholders. In general discussion, corporate governance mechanism assures a crucial role in improving the efficiency of capital market through its impact on corporate operating efficiency and effectiveness, sustainable growth, and integrity and quality of financial report. Blue Ribbon Committee (1999) asserts good governance promotes relationship of accountability among primary corporation participants to enhance corporate performance. This mechanism holds management accountable to the board and the board accountable to stockholders. The key element of board oversight is working with corporation management to achieve corporate legal and ethical compliance. Board oversight mechanism can be taken in place to deter fraud, anticipate financial risk, and promote high quality, accurate, and timely disclosure to the board, to the public market and to the shareholders. This paper is organized as follows. In the next section, it will be presented the literature review regarding the corporate fraud and earnings management. It is continued by discussing the effectiveness of board oversight and audit committee, role of external auditor and closing thoughts at curbing fraud. 2. Fraud and Earnings Management In this section, it will be distinguished between corporate frauds from earnings management. Existing literatures seem no clear agreement on differentiating both those two event in corporate reporting. 2.1 What is Corporate Fraud? In the beginning of 2000s, US investors has been hit by intentionally falsify of financial reporting in the biggest and prominent public company. The companies such as Enron, Worldcom, HIH Insurance and One.Tel, to name but a few, has perpetrated and resulted a monumental losses for the investing public. For instance, Enron that recorded as the seventh largest corporation by its market capitalization in US, averaging $90 per share and worth US$70 billion in 2000, was suddenly collapsed in late 2001. Morrison (2004) asserts that the cause of the collapse is the largest corporate fraud and audit failure. Then, it can be understood that the massive corporate fraud caused by fraudulent financial reporting have contributed to a very sharp decline in the US stock market. Many of these corporate scandals include such as action of account manipulation, earnings management, restatement and other failing to report the significant events to investing public. Then, what corporate fraud does really mean? One of the answers, corporate fraud is defined as an intentional or reckless conduct, whether by act or omission, that results in materially misleading financial statements (National Comission on Fraudulent Financial Reporting of the United States, 1987). Many prior studies (Persons, 2006; BÃ ©dard, Chtourou & Courteau 2004; Uzun, Szewczyk & Varma, 2004; Abbott, Parker & Peters, 2000; Beasley, 1996) have found that corporate fraud generally involves the accounting irregularities notion, such as: * Manipulation, falsification or alteration of accounting records or supporting documents from which financial statements are prepared. * Misrepresentation in or intentional omission from, the financial statements of events, transactions, or other significant information. * Misapplication of accounting principles relating to amounts, classification, manner of presentation, or disclosure. Stolowy and Breton (2004) proposed the framework to understand the classification of account manipulation. They classify the manipulation that is outside the law and standards constitutes as fraud (known as corporate fraud, financial fraud, and accounting irregularities, interchangeability). Whereas, the activities covered by the terms earnings management (such as income smoothing and big bath) and creative accounting (or window dressing) normally remain within the regulations. Figure 1 presents that framework for understanding account manipulation (adopted from Stolowy and Breton 2004). Figure 1 Framework for Understanding Account Manipulation Fraud, in large extent, occurs when somebody commits an illegal act. In accounting notion, for example, fabricating false invoice to increase revenue number is fraud, while interpreting consignment sales as ordinary sales is errors. This different sometime does not clear to everyone, particularly who does not really understand how accounting treatment is. In short, it can be conclude that fraud exists when the account manipulation done outside the limit of the regulations (law and standards). 2.2 Earnings Management It is always hard to frame a useful definition to such a broad subject ‘earnings management’. Account manipulation done within law and standard is categorized into earnings management and creative accounting. The objective of this type account manipulation is to alter the wealth transfer mechanism: earnings per share (EPS on income statement side) and debt to equity ratio (balance sheet side). Based on figure 1, earnings management is a reporting activity done by manipulating the income statement into two ways: first, by presenting item before or after the profit used to calculate EPS and second, by removing or adding particular revenues or expenses (modification of total net income). In addition, ‘creative accounting’ term has been developed mainly by practitioners and commentators on market activity. The chartist concern comes from observing the market, not from any fundamental analysis. Windows dressing activities are done by manipulating structural risk to influence the level of firm’s debt to equity ratio. For example, interpretation at off balance sheet transaction such as leasing. Earnings management can be beneficial, neutral, and pernicious (Ronen & Yaari 2006). It is beneficial since it signals long term value. Managers take advantage of flexibility in the choice of accounting methods to signal internal information on future company’s cash flows. Then, it can be neutral when it reveals short-term true firm value. Managers can chose the accounting treatment either economically efficient or opportunistic behaviours. On the contrary, it is pernicious since it conceals short- or long term performance. This practice usually involves tricks to mislead or reduce the transparency of the financial information. Since the last decade, US Securities and Exchange Commission (SEC) had stated its concern about earnings management (Levitt 1998) and other scholar wonders the condition of the audit committees’ incapacity to deal with earning management which using accounting tricks to camouflage a firm’s true operating performance (Warrick 1999). As account manipulation is done outside law and standards, indeed it constitutes fraudulent financial reporting (Stolowy & Breton 2004). In this regard, scholars commonly find association between less fraudulent financial reporting and good corporate governance mechanism (Beasley 1996; Abbott, Parker and Peters 2000). 3. Governance Mechanism in Preventing Fraud In this section, it will be reviewed role of corporate governance in describing and preventing such as occurrence of corporate fraud. A vast number of previous literature reveal that company in default (fraud) have less effective boards, audit committees, and external auditors. 3.1. Board and Audit Committee Oversight Effectiveness The board of directors and its audit committee play a prominent role in corporate governance particularly in controlling top management. Back in 1983, Fama and Jansen argue that the board as a corporation’s highest level of control mechanism with ultimate responsibility over the way company is run. The literature review on fraudulent financial statement, restatement and financial reporting quality commonly indicates that characteristic and composition of the board do influence its effectiveness. A vast number of study examining proxies for the board’s power, independence and competence by: * The presence of financial expert; this characteristic of boardroom prevent the accounting fraud and minimize their seriousness (Farber 2005). * Proportion of independence directors on the board; the percentage of independent directors in fraudulent firms is likely to be smaller than in compliant firm. In the same way, the presence of non-affiliated block holder on the board will be negatively associated with the level of non-compliance of accounting manipulation outside law and regulation (fraud) (Beasley 1996, Beasley et al. 2000 and Abbott et al. 2004). * The number of seats directors; board size increases the likelihood of corporate fraud increases. The rational of this finding is a smaller board provide more of controlling function than do a larger board (Beasley 1996 and Jensen 1993). * Low board of director tenure; when turnover is high, so there will be a few employees (senior staff) who are still work with the company can memorize the corporation’s fraudulent activity. Few new employees are likely to join the line of power elite and therefore it will more foster insider power (senior staff) to institutionalize their position of power within corporation (Dunn 2004). * Separation of the CEO position and chairman of the board. Dunn (2004) argues that structural power, when managers also sit as key person in the board negates the advantages of a division of labour and can lead to adverse corporation outcomes. These above characteristics show that excessive power of board, percentage of unrelated directors and presence of financial experts will likely determine the level of company’s compliance with law and regulations. Indeed, this governance mechanism has been incorporated into corporate governance guideline in some prominent organisation and regulators (OECD 2004 and ASX 2008). For instance, in second edition ASX under principle 2 ‘the structure the board to add value’ requires that ‘the roles of chair and chief executive officer should not be exercised by the same individual’. In some extent this empirical finding has been taken into account by some market self regulatory such as ASX. It is important to note that audit committee effectiveness is negatively associated with the occurrence of corporate fraud (Farber 2005; Abbott et al 2004; and Agrawal and Chadha 2005). Its committee’s effectiveness commonly is measured by number of outside directors and number of financial expert on firm audit committee. In addition, ASX 2008 states the importance of independence and competence of audit committee. International practice is moving towards an audit committee only comprised of independent directors. Regarding technical expertise, audit committee should include members who are all financially literate (able to read and understand financial statements), which at least one have accounting qualification and one who understand the industry practise which corporation operates. 3.2. Auditor Effectiveness Many previous studies argue that external auditor plays a crucial role in preventing and detecting accounting fraud (Farber 2005, Piot and Janin 2005, Myers et al. 2003, and Johnson et al. (2002). Farber (2005) finds that firms audited by one of Big 4 (PricewaterhouseCoopers, Ernst & Young, KPMG and Deloitte Touche Tohmatsu) are less often announcing fraudulent financial reporting compared to firms audited by non Big 4. Moreover, Piot and Janin (2005) states that the occurrence of restatement (low level of fraudulent financial reporting) is often proceeded by a change of external auditor. Then, it may be considered that auditor effectiveness can be measured by engaging Big 4 as external auditor and no suddenly change of auditor before their rotation period. In addition, there is debate over the benefit of rotation period. Myer et al. (2003) find that longer auditor tenure constrains management’s discretion with accounting accruals, which suggests high audit quality. This is consistent with Johnson et al. (2002) that also find accruals are larger and less persistent for firms with short auditor tenure relative to those with medium or long tenure. They argue that longer tenure can improve auditor expertise from superior client-specific knowledge. However, proponent of mandatory auditor rotation argues that lengthy auditor tenure erodes independence, which in turn impairs audit quality. Since independence is an abstract thing, regulators, practitioners, and academics often rely on the appearance dimension to operationalize the auditor independence (Dupuch et al. 2003). In common sense, auditor will be perceived less independence when provide such material amount of particular kinds of non-audit service to audit clients. Ladakis (2005) describes that in the year of 2000 alone, Enron as detected fraudulent corporation paid Andersen audit fees of US$25 million, and non-audit fees of US$27 million. 4. Closing Thoughts There are so many regulatory efforts aiming to curb corporate fraud and any other accounting irregularities within company, then people will find inconclusive answer that all regulation is not enough to deter the fraud in the future. Dishonest people inside corporation will insist to commit fraud and other type of crimes within or outside standards and regulations. Those who have no commitment to firms and society may always find a way to do fraud for personal advantages. They will override the regulations in even new creative practice to hide theft. Then, last hope to stop this is only good structure as holding between economic and social goal, individual and communal goal incorporated with shift in ethics and value. People must always remember that greedy executive who wants to acquire the personal benefit cannot be stopped by even best controls and regulations. Companies would be perform better by addressing the fraud issues specific to their own firm, and then developing an ethical corporate values that will hold them well in the long run. Corporate governance compliance within company and proactive fraud prevention effort by professional can decrease the corporation’s likelihood of being victimized by fraud. 5. List of References ABBOTT, L., PARK, Y. & PARKER, S. (2000) The Effect of Audit Committee Activity and Independence on Corporate Fraud. Managerial Finance, 26, 55-67. ABBOTT, L., PARKER, S. & PETER, G. (2004) Audit Committee Characteristics and Restatements. Auditing: A Journal of Practice and Theory, 23, 69-87. AGRAWAL, A. & CHADHA, S. (2005) Corporate Governance and Accounting Scandals. Journal of Law and Economics, 48, 371-390. AUSTRALIAN SECURITIES EXCHANGE (2008) Corporate Governance Principles and Recommendations. ASX Corporate Governance Council, 2nd Edition. BEASLEY, M. S. (1996) An Empirical Analysis of the Rotation Between the Board of Director Composition and Financial Statement Fraud. Accounting Review, 71, 443-465. BEASLEY, M. S., CARCELLO, J. V., HERMANSON, D. R. & LAPIDES, P. D. (2000) Fraudulent Financial Reporting: Consideration of Industry Traits and Corporate Governance Mechanisms. Accounting Horizons, 14, 441-454. BÉDARD, J., CHTOUROU, S. M. & COURTEAU, L. (2004) The Effect of Audit Committee Expertise, Independence, and Activity on Aggressive Earnings Management. Auditing, 23 (2), 13-35 BLUE RIBBON COMMITTEE (1999) Report and Recommendations of the Blue Ribbon Committee on Improving the Effectiveness of Corporate Audit Committees, New York: New York Stock Exchange and National Association of Securities Dealers. DUNN, P. (2004) The Impact of Insider Power on Fraudulent Financial Reporting. Journal of Management, 30, 397-412. DOPUCH, N., R. R. KING, AND R. SCHWARTZ. (2003) Independence in Appearance and in Fact: An empirical investigation. Contemporary Accounting Research 65, 83-113. FAMA, E. F. & JENSEN, M. C. (1983) Agency Problems and Residual Claims. The Journal of Law and Economics, 26, 327. FARBER, D. B. (2005) Restoring Trust After Fraud: Does Corporate Governance Matter? The Accounting Review, 80, 539-561. JENSEN, M.C. (1993) The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems. The Journal of Finance, 48, 831-880. JOHNSON, V. E., KHURANA, I.K., & REYNOLDS, J.K. (2002) Audit-Firm Tenure and the Quality of Financial Reports. Contemporary Accounting Research, Winter, 637-660. LADAKIS, E. (2005) The Auditor as Gatekeeper for the Investing Public: Auditor Independence and the CLERP Reforms – a Comparative Analysis. Company and Securities Law Journal, 23. LAVALLE, L. (2002) Enron: How Governance Rules Failed. Business Week, 3766, 28-29. LEVITT, A. (1998) The Number Game. Address to NYU Centre for Law and Business, September 28. MORRISON, J. (2004) Legislating For Good Corporate Governance: Do We Expect Too Much? The Journal of Corporate Citizenship, 121(13). MYERS, J., MYERS, L. & OMER, T. (2003) Exploring the Term of Auditor-Client Relationship and the Quality of Earnings: A Case for Mandatory Auditor Rotation? The Accounting Review, 78 (3), 779-799. ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT (2004) OECD Principles of Corporate Governance. PERSONS, O.S. (2006) Corporate Governance and Non-Financial Reporting Fraud. The Journal of Business and Economic Studies,12 (1), 27-40. PIOT, C. & JANIN, R. (2005) Audit Quality and Earnings Management in France. SSRN eLibrary. RONEN, J. & YAARI, V. (2006) Earnings Management: Emerging Insight in Theory, Practice, and Research. Springer. STOLOWY, H. & BRETON, G. (2004) Accounts Manipulation: A Literature Review And Proposed Conceptual Framework. The Review of Accounting and Finance, 3, 5-65. UZUN, H., SZEWCZYK, S. H. & VARMA, R. (2004) Board Composition and Corporate Fraud. Financial Analysts Journal, 60 (3), 33-43. WARRICK, W. W. (1999) Post-Blue Ribbon Committee thoughts on developing the audit committee’s charter and annual report. Directorship, 25, 6.

IIO course

For example, learning through trial and error how to interact with one's spouse or one's boss intelligently may be expensive for the person as well as for others in terms of emotional energy drained, career failure, or broken relationships. This course will take you through the accumulated wisdom on interpersonal skills. After all, wise people learn from others' experience and from the accumulated wisdom.Learning Goals: In addition to the course objectives mentioned above, students should expect to develop the following by end of the course 1 . Decision Making Skills and Analytical Ability : An ability to arrive at a feasible criteria for Implementation of a decision among a set of equally competitive possibilities : through quantitative and / or qualitative analysis of data and contextual information / industry analysis . Critical Analysis and Creative Communication Skills: Each student should be able to identify key issues relevant to this course, develop a perspective supported by externally obtained / instructor provided information ; capacity to distinguish between major, minor, peripheral and irrelevant factors as well as exogenous and endogenous variables ; and present and defend the decision arrived at based on the assessment criteria already established. . Interpersonal Communication and Group Working Ability: Each student is required to demonstrate an ability to appreciate peer group member view point and work In team environment, exalting a clear understanding of Individual roles and tasks, ability to Identify and resolve Required Text Book: Hunter, J. C. (1998). The servant: A simple story about the true essence of leadership (p. 187). New York: Crown Business.Additional Readings: as per course outline EVALUATION COMPONENTS: Components of Course Evaluation Percentage Distribution Class Participation You should come to class fully prepared with each session's prescribed readings completed (prepared means being capable of starting an educated discussi on or answering the facilitator's questions in class on any section). A deep and thorough understanding of the required readings is expected. Preparedness will be tested individually by asking questions to some students.If you are unable to answer questions satisfactorily, you will lose 5 percentage points of the weighted for this course each time you fail to answer a question raised by the faculty in the class (this means that if you fail to answer four questions in class, you will lose the entire 20% for class participation). Moreover, for each session you must summarize your insights n the form of a short sentence/phrase of not more than 140-characters (including spaces). This â€Å"tweet† for each session must be submitted on the web link provided to you before 0600 hours on the day of the session.The tweet must not be picked up from any of the prescribed readings, but is a summary of your insights from the readings. Do not share your tweet with others- if two or more stu dents have very similar or same tweets, then all concerned students will lose all marks for their submission. Quizzes (There will be one quiz at the end of the course, which will include only little-choice questions with h negative marking). 80% Total 100 COURSE MATERIAL AND HANDOUTS: Soft copies of course material including case studies will be uploaded in the blackboard.Hard copies will be distributed prior to the class and will be available at resource center SESSION WISE TOPICS AND READINGS: session NO-I Session Title Introduction students learn about leadership through service to others. Journal of Business Ethics, 15 (1), 103-110. Pedagogy Lecture and Discussion Session No-2 Session Title Introduction to Karma-Yoga Reading Material Karma in its effect on character. Karma-Yoga, 1-12. Hunter Prologue. Pedagogy Lecture and Discussion Session No-3 Session Title Leadership and Power Reading Material Hunter Chapter 1 (The Definitions).What is duty? Karma-Yoga, 52-64. Pedagogy Lectur e and Discussion Session No-4 Session Title Introduction to Servant Leadership Reading Material Hunter Chapter 2 (The old paradigm) Hunter Chapter 3 (The model). Pedagogy Lecture and Discussion Session No-5 Session Title Love and Leadership Reading Material Hunter Chapter 4 (The verb). We help ourselves, not the world. Karma-Yoga, 65-77. Session No-6 Session Title Managing the Environment Reading Material Hunter Chapter 5 (The environment) Hunter Chapter 6 (The choice). Session No-7 Session Title Why lead?Reading Material Hunter Chapter 7 (The payoff Hunter Epilogue The ideal of Karma- Yoga. Karma-Yoga, 117-131. ATTENDANCE Regularity in Attendance Regular attendance is considered extremely important in the BGP. All students therefore, must comply on regular attendance in class. The relative deduction of having attendance of less than 60% (irrespective of medical certificates) shall not be permitted to appear for the examination in that term/academic year and will carry â€Å"F† read in the course. Institute uses biometric attendance for recording attendance of students.In the event of two continuous sessions, students are required to punch twice at the beginning of each session if there is a break in between the sessions. The class room doors will be closed within 5 minutes of starts for each session. Student attendance will be a component while grading them for the course. If the instructor wishes to take physical attendance along with the Biometric attendance, they will communicate the same in the class. In this case also Biometric attendance ill be the official record (and not the physical attendance) for the course.Instructors have been advised to report about habitual absentees (habitual absentee is defined as students absent in the class for more than three classes consecutively). Unauthorized absence from class/institute will be considered a breach of discipline and the Institute will be free to take appropriate action in such cases. The same stu dent will be asked to face disciplinary committee. Students will not be given any attendance for any committee related activities which warrants them to drop from the class.They are required to undertake all committee related work beyond class hours. Under extra-ordinary circumstances, students may obtain leave of absence under the following rules and procedures: Prior permission of the Director BGP must be obtained for availing of leave. Students are not permitted to go out of station during the terms. In the event of students visiting their local guardian for overnight stay, they must inform the Director BGP and adman office (Officer in charge of hostels) and only travel after receiving a proper gate pass.If a student is noticed to be out of station for overnight thou any intimation to the Director BGP, disciplinary action will be taken against him/her to the extent of debarring the student from appearing in the examinations. In case of sickness, medical certificate issued and/or countersigned by the doctor along with the prescribed application form must be submitted to the BGP Office within 3 days of Joining classes after illness. No student shall be allowed to Join the program unless he/she presents a medical fitness certificate duly endorsed by a Medical Officer of the designated hospital only.No medical certificates from doctors there than the Institute approved hospital will be entertained. Institute's approved hospital's Medical Officers will issue medical certificates only in case of diagnosed illness where they are convinced that the student is too ill to attend classes. These include hospitalizing, communicable diseases (chicken-pox, jaundice and typhoid) and accidental injuries (fractures, deep traumas). Cases depending on the genuinely of the case by the BGP Director.However no compensatory attendance and examination will be held for the period of leave. Students will be awarded grades on the basis of their attendance level and reference only in t he classes from which they were present. Before applying for leave to the Director BGP a student should contact his/her course instructors to ensure that he/she is not missing any quizzes or examinations during the leave period. The BGP Office or the faculty concerned will not be responsible for the student losing any segment of evaluation on account of his/her leave.No compensatory opportunity will be given for quizzes and other class room based components on account of leave of any kind. Attendance and Performance Grade Penalty Each student is expected to attend a minimum of 80% of classes in each course. The grade penalty will be imposed on all the students who do not meet the minimum 80% attendance requirements in each course in the following manner: Attendance of Student Performance Grade Penalty More than or equal to 70% but less than One grade drop (e. G. From A to A-) More than or equal to but less than 70% Two grade drop (e. . From A to B+) Less than 60% F grade will be awa rded If a student gets D grade in a particular course and also gets a grade drop due to attendance shortage, ‘D' will become an ‘F' grade. If a student fails to meet the specified attendance requirement, his/her grade in the respective course(s) would be ordered by the Director BGP in accordance with the grade penalty rules laid down above. Exiting and Entering Students are expected to remain in the classroom, be mentally alert, and participate in the class proceedings for the duration.If a student must leave early for unavoidable reasons, that student should obtain permission from the professor before the class begins. Leaving and re-entering the class is not permitted, except under extraordinary circumstances. Faculty members may cross check the attendance and if a student is found absent in the class, the case will be sent to spieling committee and actions will be taken by the committee. Norms of Behavior Students should demonstrate respect for Faculty and fellow stud ents. Respectful behavior contributes to the enhanced learning experience.Students should refrain from disruptive behavior such as eating, using laptops, and holding side- conversations. Using laptops during is allowed only on the instruction of the proper forum instead of seeking an immediate solution. All grievances may be addressed to the BGP-Director or respective functional heads and in his absence, to the Executive Director. In such cases, a copy should be marked o the above. Respect the Facilities Students are expected to help maintain chairs, display screen, desktop computers, LCD, tables, window curtains and electrical fittings in good usable condition and not damage them or render them useless.Students are expected not to destroy the classroom ambiance. The cost of damage, loss or theft on account of students will be recovered from them. When this cannot be attributed to one student, the cost will be recovered from an identifiable group of which the individual is a part or from the entire batch. Students are expected to use cans to dispose of trash. They are also encouraged to remove defacing or unclean material voluntarily. Essentially, students should always use proper reporting and escalating mechanisms for concerns and issues.Under no circumstances should students take matters into their own hands. Students are expected to use only the students' dining hall for dining. Classrooms or any of the other administrative or academic areas shall not be used for dining. Great Lakes has adopted the principle of preserving the environment. Therefore, it tries to inculcate in the minds of its students and staff, a sense of being one with tauter causing no harm anytime, anywhere, and under any circumstances which will result in damage to the environment.Smoking, chewing tobacco and drinking alcohol in and around the premises is strictly prohibited. Severe penalties will accrue to those students caught violating this. Use of Laptops in the class Use of laptops in the class is strictly prohibited during class hours, unless specifically authorized by the Faculty or the Academic Administration. Biometric Readers: Bio-metric readers are installed for attendance in class rooms. Students must register their attendance using only these devices.

SUMMARY In naming female CEO, IBM passes gender milestone Essay

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The Decades Essay Example | Topics and Well Written Essays - 250 words

The Decades - Essay Example During this period racism had begun to die down and black people began to be seen as equals by the majority white people. Therefore this song that called for change exemplified the mood of change and togetherness. In the decade of the 1970s, â€Å"Dancing Queen† by Abba best exemplified the mood of the decade. This was the decade that saw the creation of bands and group singers. Abba was among the best bands and their band success exemplified the mood. In the decade of the 1980s, â€Å"Thriller† by Michael Jackson bet exemplified the mood of the decade as this was the decade that saw the revolution of dance and dancing moves. The song had a very good choreography that caught the hearts of many. In the decade of the 1990s, â€Å"Vogue† by Madonna best exemplified the mood (Garry 2001). This decade was a decade that saw the partial acceptance of gay relationships and people in the society. This song was about a gay dance move called ‘vogueing’ and henc e it therefore went with the mood of the decade. Finally in the decade of the new millennium, the song that best exemplified the mood was â€Å"Independent Woman† by destiny’s child as this was a period that saw women completely rise to the same status as men and even take up very prestigious positions. There are patterns of commonalities between the decade of the 1970s and that of the 1980s as this period experienced formation of numerous band groups that went ahead to become a success. There is also some commonality between the decade of the 1980s and 1990s whereby this period songs touched on alcohol and drugs and hence exemplified the drug

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Global organizations ethical & cultural issues - Essay Example Such challenges may include ethical and cultural issues that corporations face as they seek to expand their presence in the global arena. Wal-Mart Stores, Inc. faces ethical, social responsibility & cultural issues as it seeks to expand its operations outside the United States. Indeed, this research paper addresses and analyzes the cultural, ethical, and social responsibility issues affecting the operations of Wal-Mart outside America. Wal-Mart is a global retail corporation that operates a chain of large retail stores in various formats across the world (Forbes, 2013). The global organization has its headquarters in America and stands out as the largest private employer with more than two million employees across the world. The corporation has about 8500 stores, which operates in 50 states in the United States and in 26 countries across the globe (The New York Times, 2013). The global organization has a low price philosophy, which attracts a wide a customer base (Forbes, 2013). Neve rtheless, with the diversity of its operations and many employees the corporation faces numerous ethical, cultural, and social responsibility issues relating to its operations and workforce. Walmart has been expanding its operations outside US especially to areas where it can establish a strong retail store. The global organization opened retail stores in Japan, Germany, China, and South Korea but faced various cultural issues that limited its success and sometimes led to the closure of such retail stores. Notably, Germany was the first place that Walmart opened its stores outside Europe (Landler & Barbaro, 2006). Nevertheless, cultural issues in Germany grounded its operations. The cultural issues included the corporation’s failure to provide all products and services under one roof as seen in American stores (Landler & Barbaro, 2006). Moreover, the merchandise at the Walmart stores in Germany was inefficient for the customers. The retail store irritated the German customers by placing all the premium products at an eye level and placing the discounted products at the bottom or the top most shelve where customers struggled to get the discounted products (Landler & Barbaro, 2006). Additionally, the WalMart’s product line in Germany did not suit the shopping and cultural traits of the customers. In fact, the German culture negated the American culture that Walmart propagates in that shoppers opt to shop daily in various local stores dealing in household goods and groceries instead of shopping once a week as Walmart advocates (Landler & Barbaro, 2006). Walmart had issues in satisfying the cultural and shopping habits of a normal German shopper who seeks to the most efficient and limited time in shopping (Landler & Barbaro, 2006). The retail store in Germany mandated customers to spend longer time in shopping to the dismay of the German shoppers. Additionally, the retail store introduced strange management practices that did not conform to the Germa n culture. Indeed, the management requires employees to attend the morning exercise before the shift that annoyed many German employees (Landler & Barbaro, 2006). Furthermore, the store required sales clerks to smile at customers. This negated the German culture where men viewed this as flirting and the German culture viewed the behavior of smiling at strangers as an abnormality (Landler & Barbaro, 2006). In fact, this trend disturbed many German cashiers and derived hard feelings as the smiles were

There is a body of litterature that proposes that customer ...... to Essay

There is a body of litterature that proposes that customer ...... to what extent do you believe this to be true - Essay Example (Skogland & Siguaw, 2004, p. 221) Research has shown that in the United States, customer defection is high; this means that customers will not return for a second purchase of the product from businesses or firms. U.S. corporations lose half of their customers over a span of five years resulting in 25 to 50 percent reduction of corporate performance. Companies invest millions of dollars in customer retention programs. Skogland & Siguaw’s (2004, p. 221) study cite Marriott who spent $54 million in 1996 on its Honored Guest program, while Hyatt invested $25 million in its loyalty program that same year. Research on customer loyalty has primarily focused on customer satisfaction and involvement. However, findings on the linkage between repeat-purchase behavior and satisfaction have provided mixed results. Some report significant links, while others are doubtful. In the past century, RM was a major trend and a controversial talking point in business management. Strategic competitive advantage could no longer be delivered with just product characteristics but with emphasis on satisfying customers. (Barnes, 1994, cited in Egan, 2003, p. 145) Relationship marketing (RM) and customer relationship marketing (CRM) are two interrelated subjects. â€Å"Relationship marketing is marketing based on interaction within networks of relationship†¦ CRM [includes] values and strategies of relationship marketing – with particular emphasis on customer relationships – turned into practical application† (Gummesson, 2002, p. 3). Relationship marketing was first contributed by Berry (1983) as a new rubric for services marketing, with insights in the 1980s pointing to service risk points in the customer relationship life cycle. In the 1990s, relationship marketing became a key marketing issue (Ballantyne et al., 2003, p.159-160). Due to constant changes in marketing, there have been departures from mainstream marketing

The Invisible World Research Paper Example | Topics and Well Written Essays - 8000 words

The Invisible World - Research Paper Example It has been said that the descriptions of Hell are only symbolic and they are not describing how Hell really is. This is an important question, and one that deserves attention. We must understand the form of language {genre} used when talking about any subject before we come to a conclusion as to what the Scripture means. One of the most commonly used arguments for the belief that these scriptures are simply symbolic is mainly pointed to the passages used in Revelation. It is said that Revelation is symbolic and therefore the suggestion is made that the descriptions of Hell are as well. This argument doesn’t go far once the Scriptures are studied in the context of the entire Bible, but for the sake of this part of the study, we will grant that argument somewhat valid for the book of Revelation even though it is not. But even with that, it doesn’t come to any conclusion in reference to the other books that talk about Hell within the Bible. Revelation isn’t the onl y book that talks about it. Let’s look at what some other Scriptures say about Hell, and then answer the question proposed at the beginning of this section†¦

Compare and contrast between the philosophical thoughts of Booker T Essay

Compare and contrast between the philosophical thoughts of Booker T. Washington and W. E. B. Dubois - Essay Example He sympathized with the black community to accept discrimination until such time they had material wealth to sustain their struggle. Moreover, Washington argued that the problem of black people could only be solved through hard work that lead to economic prosperity (Booker T. Washington vs. W.E.B DuBois). Furthermore, Washington believed in education of the black people. He understood that education was an important tool in harnessing craftsmanship, farming skills, and enterprise. He believed that if people were educated they would easily cultivated the virtues of patience and thrift. Washington argued that these values would help black people win over the respect to the whites and make them integrated in the society. Du Bois was a political philosopher and an intellectual who lived from 1868 to 1963. He disputed Washington ideas and argued that they would aggravate discrimination of the black people rather than deliver them from servitude. Instead of perseverance Du Bois pursued political agitation and civil movement agenda. He helped form the NAACP. Moreover, Du Bois argued that social change can only be brought about by the influence of black college and university students. Du Bois referred to student as’ the Talented Tenth’ (Karenga 368). Washington and Du Bois agreed on the role of education, but they differed on how it would help the black community. For Washington, education was all good for everyone. However, Du Bois argued that education would only help a small group of the talented youth. Therefore, educated secured the plight of students only (Karenga 369). This called for civil rights movement to secure the rights of other black people from the white’s supremacy. Washington was more compromising while he requested the whites to offers the black people jobs and education and in return give up the demand for social equality. On the other hand, Du Bois was a militant who overturned the philosophy of Washington to a halt and made it

Business Letters Essay Example | Topics and Well Written Essays - 750 words

Business Letters - Essay Example We believe at offering the best services to our clients and thus we oftenly conduct an evaluation for the cleaners with the help of the clients they serve. We highly uphold integrity and so we encourage our clients to communicate directly to us in case of any misconduct from the employees. Further, we encourage our clients to communicate to our office before making any kind of payment. We also do not accept cash payments and thus encourage our clients to make cheque deposits to our bank account that is indicated in the brochure. Kindly inform me of availability of a vacant room in your newly constructed mall. Our business has been in operation for over ten years, with branches in many parts of the country. This has enabled us to serve customers from different parts. We have therefore been considering opening a new branch and we are hopeful that opening an office in your building will enable us serve the customers in the area that have not been able to access our services. It is our belief that our banking services will benefit even the newly opened businesses within the mall. We are willing to pay the set amount of rent and adhere to the set standards of payment. We considered security purposes also and arrived at a conclusion that the mall will be an ideal place for our new office. It will also be ideal due to the short distance from the mall to our headquarters thus reporting to the headquarters will be easier. We will also be in a position to advertise our services to a big number of people. Kindly contact us therefore for an availability of a vacant office and inform us of the appropriate time for us to come and check get more information about the terms of payment of rent. Thank you in advance. I would like to express our company’s interest of supplying pure drinking water to your office. Our company has been delivering water to the nearby offices for the past

Product Assessment Essay Example | Topics and Well Written Essays - 1250 words - 4

Product Assessment - Essay Example The table on the right shows that about 85% of the total population in the United States uses mobile phones. The age group which owns a mobile phone ranges from 18-29 years old while the age group with the least percentage of mobile phone ownership is the 65+ age group which stands at only 58%. The mobile phones have lost the popularity in the recent years and statistics reveal that it is likely that the product will continue to decline given the emergence and the sudden rise in the popularity of smartphones. It is estimated that in the year 2012, almost half of all the mobile phone users will have switched to the smartphones and this will mean that with time, mobile phone ownership and usage will decrease before it becomes more or less a non-existent product eventually. (Stewart) Companies such as Apple, Samsung and HTC have witnessed huge rises in their sales in the recent years and their popularity has gone sky high thanks to the introduction of newer versions of smartphones which offer an incredible amount of functions and opportunities to explore. This gives the mobile phone manufacturers and marketers enough to worry about with the US census supporting the view that people may actually shift from mobile phones to smartphones in the near future. The table above shows the methods used by the American households to use the internet. The usage of internet in the United States is very high and is now considered as one of the basic necessities of the public. The table shows the data from a US census in the year 2010 and it shows that about 9.1% of the households now use mobiles for internet usage. The internet accessibility in mobile phones is very limited and people have started to shift to smartphones due to the fact that these smartphones offer a wide range of internet options and much better accessibility and surfing options. Also the competition among the top 4 smartphone

Tell Me About Blood Essay Example for Free

Tell Me About Blood Essay 1)What is the significance of a lower-than-normal hematocrit? What is the effect of a bacterial infection of the hematocrit? Can cause bleeding destruction of red blood cells causing sickle cell anemia and an enlarged spleen it can also cause decreased production of red blood cells which in turn can cause cancer and bone marrow suppression. Nutritional problems as well as over hydration are caused by lower-than-normal hematocrit levels. Bacterial infection may lower your hematocrit levels. 2)Compare the development of lymphocytes with the development of the other formed elements. Lymphocytes and other formed elements are developed from pluripotent stem cells. The pluripotent stem cells generate myeloid stem cells and lymphoid stem cells. Lymphoid stem cells begin development in the red bone marrow, but some are completed in the lymphatic tissue, where they give rise to lymphocytes. Myeloid stem cell begins and complete their development in the red bone marrow and give rise to red blood cells, platelets, basophils, monocytes, neutrophils, and eosinophils. 3)What is erythropoiesis? Which factors speed up and slow down erythropoiesis? Erythropoiesis is a process in which red blood cells are produced. It is stimulated by decreased O2 in circulation, which is detected by the kidneys which then secrete the hormone erythropoietin, increased level of physical activity can also cause an increase in erythropoiesis. It slows down when there is sufficient oxygen carrying capacity of the blood. 4)Explain what would happen if a person with type B blood were given a transfusion of type O blood. Nothing would happen type O is a universal donor. 5) References Li, W., Wang, J., Long, R., Su, G., Bukhory, D., Dai, J., Wang, Z. (2014). Novel Antibody against a Glutamic Acid-Rich Human Fibrinogen-Like Protein 2-Derived Peptide near Ser91 Inhibits hfgl2 Prothrombinase Activity. Plos ONE, 9(4), 1-13. doi:10.1371/journal.pone.0094551 Sreenivasamurthy, S. K., Dey, G., Ramu, M., Kumar, M., Gupta, M. K., Mohanty, A. K., Keshava Prasad, T. S. (2013). A compendium of molecules involved in vector-pathogen interactions pertaining to malaria. Malaria Journal, 12(1), 1-7. doi:10.1186/1475

Modern Sedentary Lifestyle On Overweight And Obesity Physical Education Essay

Modern Sedentary Lifestyle On Overweight And Obesity Physical Education Essay Currently, obesity and overweight is a main global health problem plaguing almost the whole planet. Studies show that in 2005 1.6 billion adults were overweight and 400 million adults were obese. As it is portrayed, obesity and overweight is a problem of the contemporary societies that cannot be confronted. According to a recent study of the World Health Organisation, it is predicted that there will be 2.3 billion overweight adults by 2015 in the world and more than 700 million of them will be obese. Also it is important to realise that obesity and overweigh are modern problems of the societies since statistics referring to these problems did not exist 60 years ago. Therefore, it is clear that obesity and overweight apart from genetic predisposition and psychological disorders might derive as well from the modern sedentary lifestyle that is highly affected by the recent technological development and from poor nutrition as there is an increase in convenience food. However in order to understand the extent and significance of the problem it is important to define and analyse overweight and obesity. Obesity can be defined as a medical condition in which body fat has accumulated to the extent that it has a negative effect on health. A healthy body requires a minimum amount of  fat  for the proper functioning of the  hormonal,  reproductive, and  immune  systems, as  thermal insulation, as  shock absorption  for sensitive areas, and as  energy  for future use. But the accumulation of too much storage fat can impair movement and flexibility, can alter the  appearance of the body and cause health problems. Obesity increases the likelihood of  various diseases like heart disease,  type 2 diabetes,  breathing difficulties during sleep (pulmonary diseases), hypertension, certain types of  cancer, and  osteoarthritis. In particular, cancer of the colon as well as prostate in men and cancer in breasts, ovaries and cervix in women have been found to be related to obesity. Furthermore, hypertension has been found to be related CHD and strokes. As a result, obesity has been found to reduce  life expectancy and be one of the leading  preventable causes of death  worldwide. Investigators have estimated that if everybody had the optimal body mass there would be 3 years added to life expectancy, 25 percent less coronary heart disease and 35 percent less congestive heart failure and brain infection. Overweight is generally defined as having more  body fat  than is optimally  healthy, without reaching the body fat value for obesity. The generally accepted view is that being overweight causes similar health problems to obesity, but to a minor degree. It is estimated that the risk of death increases by 20 to 40 percent among overweight people and that being overweight at age 40 reduces life expectancy by three years. Being overweight or obese has been identified also as a cause of  cancer. Psychological well-being is also at risk in the overweight individual due to social  discrimination. However, children under the age of eight are normally not affected. The prevalence of obesity and overweight is strongly related to age. The 16 to 24 years age group (for both men and women) is substantially less at risk of  becoming obese than older age groups. Those aged between 25 and 34 have the second lowest rates of obesity and overweight. Middle aged people are those who are in the most risky position of becoming obese or overweight. In order to further understand obesity and overweight it is important to analyse the methods used in order to classify and tell the degree to which a person is overweight or obese. The most popular method used is that of  the Body Mass index  (BMI), or  Quetelet index. The Body Mass index is a statistical measure of body weight based on a persons weight and height. Though it does not actually measure the  percentage of body fat, it is used to estimate a healthy  body weight  based on a persons height. Due to its ease of measurement and calculation, it is the most popular diagnostic tool to identify weight problems within a population, usually to classify adult underweight, overweight and obesity. Body Mass Index is found by dividing the body mass in kilograms by the square of height in meters. This technique can also act as a health since it appears to provide relative results concerning the degree of risk associated with overweight or obesity. Mortality and morbidity start increase at high rates at a BMI of more than 25. Therefore the desired levels of BMI are those below 25. Below there is a table of the BMI classification according to the World Health Organisation confirming what was previously stated. Classification BMI(kg/m2) Underweight

Islamic Economics and Secularism

Islamic Economics and Secularism Secularism is the assertion that governmental practices or institutions should exist separately from religion and/or religious beliefs. In other words, secular system is based on the materialistic and individualistic views with less socio economic justice and only concern to the worldly matters. Meanwhile, Islamic economics is a system that identifies and promotes an economic order that conforms to Islamic scripture and traditions. Thus, the above statement of differentiation between Islamic economics and secularism by only certain characteristics is untrue as both of them are mutually exclusive. The Islamic economics differs from secular system not by prohibition of interest, gambling and other unjust transaction only, but it is more than that. Islam is a way of life, and since economy is also a part of mans life, thus, the Islamic principles is absorbed and fully utilized into the economic transaction and practices. Therefore, the statement of Islamic economics as a discipline is nothing more than the secular system without interest, gambling and other unjust transactions where value creation is of the halal kind is not valid; and the justification will be discussed here. The justification To emphasize the difference, the following points underline the key difference between Islam and this secular system, in particular, and other social and political systems, in general are highlighted. The first point is, Islam differs from secularisms theories and perspectives in its ideological and doctrinal bases. Islam is a Divine Message with a special conception of the universe, life and man. It basically disagrees with secular views, which have their roots in their materialistic vision that has no religious base, nor any belief in Allah. Capitalism is merely concepts on devoid of spiritual and moral values. The difference between it and Islam is obviously great. Islam has an all-embracing ideological and legislative make-up. In it, no barriers are to be found between morals, laws, worships, concepts and existence. There are significant differences among them in terms of emphasis they place on material or spiritual goals and the role of moral values and government intention in ordering human affairs. While material goals concentrate primarily on goods and services that contribute to physical comfort and well-being, spiritual goals include nearness to God, peace of mind, inner happiness, honesty, justice, mutual care and cooperation, family and social harmony, and the absence of crime and anomie. These may not be quantifiable, but are, nevertheless, crucial for realizing human well-being may lead to a neglect of spiritual ingredients. The greater the difference in emphasis, the greater may be the difference in the economic disciplines of these societies. Besides, in its aims and objectives, Islam is distinguished from secularism on the basis of contents and the legal organization of life. It treats related subjects in separate ways with specific points. The ultimate goal of Islam is to worship and seek the pleasure of Allah. In implementing the divine law and adhering to the divine order, a Muslim demonstrates he is a worshipper. His objective is to seek the reward and pleasure of Allah, the Exalted. Even in the context of economy activity, men should obey the guideline of ethical behavior so called Akhlaq which emphasizes on the real spirit of Islam over and above legal limits. Contrarily, the human objective in capitalist society is purely a materialistic one, expressed in terms of materialistic gain regardless of the cost and fall out on society. Even though there is a sort of analogy between Islam and other systems in certain respects, Islam has its own way and method of implementing its economic concepts and objectives. For example, Islam believes in social justice and so it adopts just principles in distribution and production growth. Capitalism attempts to call for similar concepts, which can be seen as generally logical and which man, by no means, can shun. But in trying to develop the conceptions and implement them, we will find the difference between Islam and secular systems in both method and way. In capitalism, freedom knows no boundaries. In theory, individuals can do what they desire to. In doing so, it believes that the non-existence of limits or restrictions results in economic freedom, in competition and the increase of production. But to achieve a suitable and satisfactory economic level is for all people, makeshift and inexorable laws have to be enforced, based upon such theories as the laws of wages, supply and demand etc. Unlike this, Islam adopts its own methods. It never opens the gates for individual selfishness to flourish like in capitalism. Islam believes in individual ownership, community ownership and state ownership, as it is expounded in the books of fiqh, traditions and in the Holy Quran. In case selfishness and urges of greed prevail, and to prevent exploitation and economic injustice from sweeping over the community, Islam has laid down lawful and moral restrictions related to ownership, investment and consumption in defense of manipulation and deprivation. Besides, Islamic economic takes great emphasize on the role of the market, families, society and government in determining a success in economy. The market is not the only institution where people interact in human society. They also interact in the family, the society, and the government, and their interaction in all these institutions is closely interrelated. There is no doubt that the serving of self interest does help raise efficiency in the market place. However, if self-interest is overemphasized and there are no moral restraints on individual behavior, other institution may not work effectively family may disintegrate, the society may be uncaring, and the government may be corrupt, partisan, and self-centered. Example if both the parents try to serve just their own self-interest and not willing to make sacrifices for the sake of proper care and upbringing of children demands, this family may disintegrate and children not get enough love from them. Lack of willingness to make such sacrifice can lead to a decline in the quality of the human input of all other institutions, including the market, the society and the government. It may also lead to a fall in fertility rates below the replacement level, making it difficult for the society not only to sustain its development but also its social security system. Furthermore, while secular economics generally considers the behavior, tastes and preferences of individuals as given, Islamic economics does not do so. It places great emphasis on individual and social reform through moral uplift. Moral uplift aims at the change in human behavior, tastes and preferences and, thereby, it complements the price mechanism in promoting general well-being. Before even entering the market place and being exposed to the price filter, the consumers are expected to pass their claims through the moral filter. This will help filter out conspicuous consumption and all wasteful and unnecessary claims on resources. The price mechanism can then takes over and reduce the claims on resources even further to lead to the market equilibrium. The two filters can together make it possible to have optimum economy in the use of resources, which is necessary to satisfy the material as well as spiritual needs of all human beings, to reduce the concentration of wealth in a few hands, and to raise savings, which are needed to promote greater investment and employment. Without complementing the market system with morally-based value judgments, we may end up perpetuating inequities in spite of our good intentions through inaction, non-choice and drifting. The other distinction that differentiate between these two is Islamic economic emphasize on the importance of the Hereafter. This is where the concepts of the innate goodness of human beings and of the Hereafter come in concepts which conventional economics ignores but on which Islam places a great deal of emphasis. Because of their innate goodness, human beings do not necessarily always try to serve their self-interest. They are also altruistic and are willing to make sacrifices for the well-being of others. In addition, the concept of the Hereafter does not confine self-interest to just this world. It rather extends it beyond this world to life after death. We may be able to serve our self-interest in this world by being selfish, dishonest, uncaring, and negligent of our obligations towards our families, other human beings, animals, and the environment. However, we cannot serve our self-interest in the Hereafter except by fulfilling all these obligations. This serves to provide a motivating mechanism for sacrifice for the well-being of others that conventional economics fails to provide. The innate goodness of human beings along with the long-run perspective given to self-interest has the potential of inducing a person to be not only efficient but also equitable and caring. Therefore, as a guideline, Shariah is designed as a set of rules and regulations that aims of protecting public interest and the welfare of the people in this life and hereafter. The objective of the Shari`ah is to promote the well-being of all mankind, which lies in safeguarding their faith (din), their human self (nafs), their intellect (`aql), their posterity (nasl) and their wealth (mal). Whatever ensures the safeguard of these five serves public interest and is desirable. The guideline of Islamic economics is in the discipline of muamalat, which presents a framework for conduct in the civil arena. It deals in part with economic functions in an Islamic society but not comprehensively with factors impacting upon economic behavior since it is concerned solely with legal relationships between members of the society. In fact, the goals of the Islamic economics include fulfillment of the basic needs for food, clothing, shelter, medical care and education for all humans, ensuring equal ity of opportunity to all preventing concentration of wealth and reducing inequality in the distribution of income and wealth so as, among other things, wealth does not become a means of domination of man by man, ensuring to all the freedom to pursue moral excellence, and ensuring stability and economic growth to an extent necessary for realization of the above-mentioned goals. Conclusion Islam is a way of life. Being a Muslim means one will absorb the whole philosophies of Islam in everything he does in life. So do economics. The difference between Islamic economics compared to secular ideology is not just on prohibition of interest, gambling and other unjust transactions where value creation is of the halal kind. The unique principles that make Islamic economics differs lies on its ideological and doctrinal bases, the, basis of contents and the legal organization of life, the way Islam implements its economic concepts and objectives, the emphasize on the role of the market, families, society and government, the value on individual and social reform through moral uplift, and the importance of the Hereafter. Question No. (2) Introduction Worldview can be defines as a set of implicit or explicit assumptions about the origin of the universe and the nature of human life. Meanwhile, from Islamic point of view, worldview is a metaphysical survey of visible as well as the invisible worlds including the perspective of life as a whole, is not a worldview that is formed merely by the gathering together of various cultural objects, values and phenomena into artificial coherence, or can be considered as vision of reality and truth. Islamic worldview is in fact a dual worldview, this world of action and accountability for the actions in the next, while the secular worldview is focusing on worldly rather than spiritual. The core elements of Islamic and Secular worldviews: A comparison. There are a few similarities between Islamic and Secular worldview in general, even though there will be differences if we look in depth. Both are concern on the allocation and distribution of resources and both emphasize the fulfillment of material needs, even though in Islamic economics there is an equal emphasis on the fulfillment of spiritual needs. Besides, both recognize the important role of market mechanism in the allocation and distribution of resources, but in addition, Islamic economics argues that the market may not by itself be able to fulfill even the material needs of all human beings. This is because it can promote excessive use of scarce resources by the rich at the expense of the poor if there is undue emphasis on the serving of self-interest. Instead of some similarities, there are a lot of differences between these two worldviews, and we will be discussing through it here. Firstly, the secular and materialist worldviews attach maximum importance to the material aspect of human well-being and tend generally to ignore the importance of the spiritual aspect. In contrast with this, Islamic worldviews give attention to both the material as well as the spiritual aspects of human well-being. Islam sees both these aspects material and spiritual of human existence as unitary wherein the material and the moral considerations as well as the here (Now) and Hereafter of human life are inextricably entangled. Apart from that, the secular worldview looks at happenings in the world from a rationalistic viewpoint, while excludes religious or ethical considerations. It promotes pursuit of self-interest as guiding human behavior and saw no conflict between individual and social interests. Besides, it makes a distinction between reason and revelation as the source of knowledge. It considers reason alone as its source, including economics. The secular worldview is conditioned by science alone i.e. any subject that goes beyond the limits of human reason is not acceptable. Furthermore, and more fundamentally, the secular man-made worldview can change infinitely at the discretion of man as his external stimuli and attitude change. However, Islamic view does not necessarily reject the role of reason in human development. They, however, recognize the limitations of reason and wish to complement it by revelation. Islamic worldview is based on the Quran and the Sunnah it is has a moral code of conduct. It grants freedom of action within the Shariah boundaries. It also emphasizes on justice and moderation as well as gives priority to social interest if it is in clash with individual interest. Islam invites people to observe and think but within the framework of Shariah. Thus, the Shariah, although flexible in certain areas is not replaceable and therefore, cannot be influenced by any human whim, while, at the same time; it promotes change and aims to influence human intentions, conduct and behavior towards the Straight Path. In addition, the Islamic worldview values reason as a source of knowledge, but in addition it assigns a role to sapience and revelation as inalienable sources. It is not a product of human tho ught resulting from any scientific inquiry: it is a divine direction leading to a unique way of life. It links the life in this world with life in the Hereafter. Thus, the Islamic worldview, although it respects the rational mind, is not confined to the limits of human reason or to observable scientific investigations (reality): it contemplates both, the observables and the non- observables. In other words, material science is the ultimate word under the Secular worldview, whereas under the Islamic worldview it is not. Furthermore, secularism often argue that maximum material well-being can be best realized if individuals are given unhindered freedom to pursue their self-interest and to maximize their want satisfaction in keeping with their own tastes and preferences. In their extreme form they do not recognize any role for Divine guidance in human life and place full trust in the ability of human beings to chalk out a proper strategy with the help of their reason. In such a worldview there is little role for values or government intervention in the efficient and equitable allocation and distribution of resources. When asked about how social interest would be served when everyone has unlimited freedom to pursue his/her self-interest, the reply is that market forces will themselves ensure this because competition will keep self-interest under check. Differently, for Islamic worldview, they do not totally reject the need for individual freedom or the role that the serving of self-interest can play in human development They, however, emphasize that both freedom and the pursuit of self-interest need to be toned down by moral values and good governance to ensure that everyones well-being is realized and that social harmony and family integrity are not hurt in the process of everyone serving his/her self-interest. Looking from the economic point of view, the secular economics claims to be value free, which in fact it is not because not to have a value is itself a value. Conversely, Islamic economics has moral and ethical values of which it cannot brook any violation. In Islam freedom to choose values is restricted, yet it had already been properly aligned in the Holy Quran and the prophets Sunnah. While pursuit of self-interest is the invisible hand that regulates economies in secular economy, Islamic economists mostly reject this view out of hand and equate it with selfishness. This does not seem valid. Islam approves the pursuit of self-interest because it is instinctive with human beings. Muslims perform their religious obligations in their own interest. It need not equal selfishness, especially if Shariah norms were observed. In addition, secular economist claimed that if available resources are scarce they must avoid waste and maximize production. As a consumer they should attempt to derive maximum satisfaction from their limited incomes. Islam is not opposed to maximization per se. however, maximization is value-neutral; what is maximized, how and to serve what ends are the deciding factors. While the profit maximization is the main intention in doing business in secular economy, Islam is aiming towards primacy of justice and social welfare. Besides, while conventional or secular economics generally considers the behavior and tastes and preferences of individuals as given, Islamic economics does not do so. It places great emphasis on individual and social reform through moral uplift. Moral uplift aims at the change in human behavior, tastes and preferences and, thereby, it complements the price mechanism in promoting general well-being. Conclusion In sum, the concept of worldview that guides and regulates an economy is visionary, contextual, and flexible within limits. The basic differences between the secular (capitalistic) and the Islamic economic worldviews center on the issues concerning the foundation and ideology in the system, reason-revelation interface, the sort of values entertained and promoted, as well as how it differ in economic contextual. Question No. (3) Overview The economic problem is one of the fundamental economic theories in the operation of any economy. It asserts that there is scarcity, or there are finite resources available that are insufficient to satisfy all human wants. The problem then becomes how to determine what is to be produced and how the factors of production (such as capital and labor) are to be allocated. In short, the economic problem is the choice one must make, arising out of limited means and unlimited wants. The economic problem is most simply explained by the question how do we satisfy unlimited wants with limited resources? The premise of the economic problem model is that human wants are constant and infinite due to constantly changing demands (often closely related to changing demographics) of the population. However, resources in the world to satisfy human wants are always limited to the amount of natural or human resources available. The economic problem, and methods to curb it, revolves around the idea of choice in prioritizing which wants can be fulfilled. Concepts of Economic problems There are three concepts that associated with the economic problems discussed above: (1) needs, (2) wants, and (3) choice. Human needs are material items that people need for survival, such as food, clothing and some form of housing. In Islamic point of view, needs comprehend five foundations, namely (a) Religion, (b) Physical self, (c) Intellect or Knowledge, (d) Offspring, and (e) Wealth. Until the Industrial Revolution, the vast majority of the worlds population struggled for access to basic human needs While the basic needs of human survival are important in the function of the economy, human wants are the driving force which stimulates demand for goods and services. In order to curb the economic problem, economists must classify the nature and different wants of consumers, as well as prioritize wants and organize production to satisfy as many wants as possible. One assumption often made in mainstream neoclassical economics is that humans inherently pursue their self-interest and the market mechanism best satisfies the various wants different individuals might have. These wants are often classified into individual wants, which depend on the individuals preferences and purchasing power parity, and collective wants, those of entire groups of people. Things such as food and clothing can be classified as either wants or needs, depending on what type and how often a good is asked for. Wants are effective desires for a particular product, or something which can only be obtained by working for it. The economic problem fundamentally revolves around the idea of choice, which ultimately must answer the problem. Due to the limited resources available, businesses must determine what to produce first to satisfy demand. Consumers are considered the biggest influences of this choice, and the goods which they want must also fit within their budgets and purchasing power parity. Solving the economic problems from Islamic perspective. The first point is about the concept of ownership of wealth in Islam. It states that all wealth belongs to God, and human beings hold them as trustees of God. It is up to the individual to decide how much of this excess he should give back for the cause of God. In other word, after earning wealth through fair and lawful means, one should satisfying their personal genuine and legitimate needs in a moderate and prudent way. After doing so, they should spend it for the cause of Allah; example is for the welfare of the poor and less fortunate people. Besides, payment of zakat that is obliged to each Muslim gives the same function here. Thus, helping others in such ways would at least fulfill the basic human needs; our first economic problem discussed above. Furthermore, because of Islam differentiates between the basic needs and luxuries, thus, there exists no concept of relative scarcity of resources in Islam. The resources available on earth are sufficient to secure the basic needs (food, clothing and shelter) of fifty billion human beings. Such a misunderstanding has concealed the reality that starvation, poverty, and economic backwardness, result from misdistribution exasperated by man-made laws and systems. Proper distribution of resources will be sufficient enough to satisfy the basic needs of human, yet, Islam teach the followers to be grateful on what he has or own. In Islam, public revenue from oil and natural resources would be used to secure the needs of the whole Muslim ummah. The Khilafah would provide public and vital resources without charge to cover the needs of every individual and family, and monopolies that multinational corporations maintain to dictate the lives of the people would dissipate. Its contribution in developing the Islamic societies Implementing those principles discussed above can contribute in development of Islamic societies, as well as for the nation as a whole. When every Muslims contribute with the intention to help others, let say the contribution is gathered by the state, thus, with sufficient funds, the state would be able to provide for basic necessities of life such as food, clothing, shelter, education and healthcare to every citizen at a reasonable standard. The state would also discharge all of its duties of state welfare and would set up all big projects for economic development. Indirectly, it would provide employment to all those who are jobless. Besides, the state can performs such welfare activities like maintains social services, wages Jihad against the foreign aggression, maintains facilities like railways, road, waterways, bridges, as well as provides protection to the individual in respect of his life, honour and property. So whatever remains with a person after satisfaction of his needs in a moderate way, he would hand over this surplus to the state. Furthermore, because of Islam differentiates between the basic needs and luxuries, thus, teach the Muslim to fulfill the basic needs, and in the same time, must moderate in luxuries. Wealth is a test by God, and Muslims should strive to pass this test by not becoming worshipers of hoarded wealth. By passing this test, will increase ones faith and godliness. In addition, the affectivity with which the Islamic economic systems correctly defines economic problem and secures the needs of every individual, and eliminates all forms of economic and social corruption, would enable fuel for Islamic policy of the state that would enable the Khilafah to easily spread Islam ideologically throughout the world. Conclusion The economic problems that basically arise from scarcity are faced by all humans in this world. Human, by his nature, always has unlimited wants, yet own limited resources to fulfill his needs and wants. Choices must be made in accordance to his own preferences and priorities. However, Islam, as a unique religion, found some ways to control, if not totally solve this economic problems by its principles and guidelines to be practiced by Muslims as a way of life. Cooperation and implementation by the governing bodies such as state can help in the development of Islamic societies. Question No. ( 5 ) What is poverty? Generally, poverty can be defined through two distinct concepts: the absolute and the relative poverty concepts. The absolute poverty is usually associated with some income level required to sustain a minimum standard of living. That income level, defined as poverty line income is often used to determine whether an individual is poor or otherwise. The individual is considered poor if his income is below poverty line income. Meanwhile, the relative poverty concept is associated with the existence of an income gap between the poor and the non-poor. As long as there is a difference in income levels of any two individuals or groups, those with a lower income are considered poor. However, in Islamic point of view, one is considered poor if he does not possess sufficient necessities to fulfill his basic needs in each of the five foundations for good individual and social life, namely: (a) Religion, (b) Physical self, (c) Intellect or Knowledge, (d) Offspring, and (e) Wealth. All the five foundations or needs must be fulfilled, and if only one of the needs is not fulfilled, then one is still considered poor. In addition, poverty is also associated with the concept of nisab, which is one of the two prerequisites for a Muslim to pay the zakah. Using Below Poverty Line (BPL), this method functions as the basis of ownership of nisab, which limit makes one eligible for the payment of zakat. Anyone with wealth on or over the nisab is responsible for the payment of zakat. Thus, for those who wealth is below nisab are zakat recipients and they are treated as poor. Causes of Poverty. Several causes that may lead to poverty are considered, as follows: Exploitation of Economy Economic exploitation can be defined as the act of using another persons labor without offering them an adequate compensation. Thus, when the compensation received is inadequate to support life, one is unable to fulfill one or more of basic needs, and this can lead to poverty. Political Poverty can happen when one major party, usually politician or region that have authority or power on decision-making through out the country that often causes development problems. For example, in these situations politicians make decisions about places that they are unfamiliar with, or lacking sufficient knowledge about the context to design effective and appropriate policies and programs, leads to political instability. Interest/Riba/Corruption Unreasonable rate of interest due to loan made can burden borrower. Example is when International Monetary Fund (IMF) donors keep the exchange rates in their favor, it often means that the poor nations remain poor, or get even poorer. Meanwhile, corruption inhibits development when leaders help themselves to money that would otherwise be used for development projects. As a result, poverty can exists when people lives in scarcity due to not getting development that supposedly enjoyed by them. Warfare The material and human destruction that caused by warfare is a major development problem. Drop in average income due to strike in the well-being of the average Iraqi citizen in the aftermath of the war, leads to damages to the infrastructure and social services, such as health care and access to clean water. Agricultural Cycles People who rely on fruits and vegetables that they produce for household food consumption (subsistence farmers) often go through cycles of relative abundance and scarcity. For many families that rely on subsistence production for survival, the period immediately prior to harvest is a hungry period. During these periods of scarcity, many families lack sufficient resources to meet their minimal nutritional needs. Natural Disasters Immediate destruction caused by natural events such as hurricanes, droughts, earthquake, flooding as well as environmental forces often cause acute periods of crisis by destroying crops and animals. Thus, people may loss their homes and properties, and lack of resources even to fulfill their basic needs of living. Developing countries often much more suffer at the hands of natural disasters, because limited resources inhibit the construction of adequate housing, infrastructure, and mechanisms for responding to crises. Prohibited industries Prohibition industries such as gambling, alcohol and tobacco can encourage one to waste their money for these unlawful activities. Worsen situation, one may borrow money in order to satisfy this bad habits, and this can lead to poverty. Role of Citizen in Alleviating Poverty from Islamic Perspective. Being Muslim every citizen has some responsibilities; Muslims in the world are some of the richest. If this wealth is used as per the direction of Allah we can alleviate poverty. Islam as system and way of life is based on collective responsibility of society, ethics and principles. If  we follow it we will be able remove the poverty from the society. Some of the citizens roles in alleviating poverty are as follows: 1.  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚   Zakah- Zakah is the fourth of five pillars of Islam and hence is obligatory on every Muslim, who fulfills the stipulated conditions, to pay. Being a pillar of Islam, it has to be paid and collected whether the destitute and the poor exist in society or not. As such it is indeed a permanent source of revenue for the alleviation of the destitute and the poor. 2.  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚   Sadaqa Sadaqat is a very wide term and is used in the Quran to cover all kinds of charity. It is as simplest as when one gives smile, acts of loving kindness, utters a kindly word to others or even greeting

Health Policy and Chronic Pain Management Essay -- palliative care, ch

Introduction   Pain is not always curable but effects the life of millions of people. This essay examines the Essence of Care 2010: Benchmarks for the Prevention and Management of Pain (DH, 2010). Particularly reflecting on a practical working knowledge of its implementation and its relevance to nursing practice. It is part of the wider ranging Essence of Care policy, that includes all the latest benchmarks developed since it was first launched in 2001. It was produced specifically to improve localized quality in the delivery of healthcare. The document was chosen because I have a particular interest in palliative care and those suffering from chronic pain. Pain effects the quality of life effecting large numbers of the population, especially those near the end of life. This essay will look at defining what social policy is and give a brief overview of the selected policy. Examining the need for the policy, statistical evidence supporting this. Then the pressure groups lobbying and who may have been influential in policy development. The goals and objectives set out in the policy and subsequently analysing one aspect of the policy in particular are included. How patient care and nurses delivery of said care is improved by this policy. Practically considering the difficulties involved in implementing the policy in nursing practice. Along with methods of delivery and evaluation. Body So what is social policy? David Gill is often regarded as one of the most authoritive authors on the subject (1973 cited by Lavalette and Pratt 1997). For Gill it was â€Å"the analysis of access to life-enhancing and life-sustaining resources† In his book 'Social Policy' (Titmuss, 1974) Timuss suggested that 'policy' is action-orientated and proble... ...n.org.uk/__data/assets/pdf_file/0004/269185/003542.pdf [last accessed 6/5/2013] Titmuss, R. (1974) Social Policy. London: Unwin Hymen publishers. Toofany, S. (2005) Nurses and health policy. Nursing Management :(12)3 :pp. 26-30 Winfield, H., Katsikitis, M., Hart, L. and Rounsefell, B. (1989). Postoperative pain experiences: Relevant patient and staff attitudes. [online] 34(5): pp.543-552. Available at: http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6T8V-45WYV7R-7G&_user=10&_coverDate=12%2F31%2F1990&_rdoc=1&_fmt=high&_orig=gateway&_origin=gateway&_sort=d&_docanchor=&view=c&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=35e6b5e8c8f803b487b35d4ae3b06cef&searchtype=a[ [accessed 8/5/2013] World Health Organization (WHO)(2011). WHO's Pain Ladder.[online] Available at: http://www.who.int/cancer/palliative/painladder/en/. [Accessed 7/5/2013].

Personal Time Management Essay -- Managing Your Time

What do we know about time management? As adults we should know a lot about time management. We all strive to become the best that we can be. This alone should encourage us to learn about time management. Every aspect of our lives depends on it. If we try to plan, organize, and execute our ideas most of the time we can manage it well, but when we go the other route, and jump out there feet first, most of the time we do not do as well. This is not the case in every light, but usually it is the norm. Even as we sit in class trying to better ourselves by improving on our education, we learn that we must manage time to the best of our abilities. This is not done only for school, but for our families for those of us that have children and spouses. A lot of the time, we manage to get everything done and leave ourselves out in the cold when it comes to making time for ourselves. If it is not our job or school we are trying to meet someone else's needs. Being prepared is a key step in being able to manage time. There are a lot of things that go with being prepared. First, you have to have an idea of what you want to do. Knowing what you are getting into helps a lot because you will be able to focus on specific points that will ensure that you are headed in the right direction of achieving your goal. This sounds pretty easy, but it is a task that a lot of people overlook. You may need material to ensure that you can do your task at hand, so knowing exactly what is going on will definitely help. Getting yourself in a proper place to be able to concentrate and execute what you have in mind is also a very important step. Not having a million and one distraction will allow you to focus and get everything done in a time... ...nd friends. Make sure that during your strategy you set a time out for relaxation, eating and sleeping properly. Another part of strategy is to multi-task, use "the Twofer" concept, for example if you are going to the Laundromat take your homework with you. There are many different parts to time management, such as procrastination, strategy, organization, expectations and being prepared. All of them contribute equally in many ways. All of the things that we have spoken about in this paper are highly recommended. The best thing to do when it comes to time management is to set a strategy, become organized and do your best to avoid procrastination. When you manage your time make sure you include the following; studying, sleeping, eating, relaxing and other necessary things. No matter what our circumstances are, we can all use some time management skills in our lives. Personal Time Management Essay -- Managing Your Time What do we know about time management? As adults we should know a lot about time management. We all strive to become the best that we can be. This alone should encourage us to learn about time management. Every aspect of our lives depends on it. If we try to plan, organize, and execute our ideas most of the time we can manage it well, but when we go the other route, and jump out there feet first, most of the time we do not do as well. This is not the case in every light, but usually it is the norm. Even as we sit in class trying to better ourselves by improving on our education, we learn that we must manage time to the best of our abilities. This is not done only for school, but for our families for those of us that have children and spouses. A lot of the time, we manage to get everything done and leave ourselves out in the cold when it comes to making time for ourselves. If it is not our job or school we are trying to meet someone else's needs. Being prepared is a key step in being able to manage time. There are a lot of things that go with being prepared. First, you have to have an idea of what you want to do. Knowing what you are getting into helps a lot because you will be able to focus on specific points that will ensure that you are headed in the right direction of achieving your goal. This sounds pretty easy, but it is a task that a lot of people overlook. You may need material to ensure that you can do your task at hand, so knowing exactly what is going on will definitely help. Getting yourself in a proper place to be able to concentrate and execute what you have in mind is also a very important step. Not having a million and one distraction will allow you to focus and get everything done in a time... ...nd friends. Make sure that during your strategy you set a time out for relaxation, eating and sleeping properly. Another part of strategy is to multi-task, use "the Twofer" concept, for example if you are going to the Laundromat take your homework with you. There are many different parts to time management, such as procrastination, strategy, organization, expectations and being prepared. All of them contribute equally in many ways. All of the things that we have spoken about in this paper are highly recommended. The best thing to do when it comes to time management is to set a strategy, become organized and do your best to avoid procrastination. When you manage your time make sure you include the following; studying, sleeping, eating, relaxing and other necessary things. No matter what our circumstances are, we can all use some time management skills in our lives.

Cesar Chavez :: Cesar Estrada Chavez Migrant Workers

Cesar Estrada Chavez was born March 31, 1927, on the small farm near Yuma, Arizona that his grandfather homesteaded during the 1880's. At age 10, life began as a migrant farm worker when his father lost the land during the Depression. These were bitterly poor years for Cesar, his parents, brothers and sisters. Together with thousands of other displaced families, the Chavez family migrated throughout the Southwest, laboring in fields and vineyards. Cesar left school after the eighth grade to help support his family. Cesar served as CSO national director in the late 1950's and early 1960's. But his dream was to create an organization to help farm workers whose suffering he had shared. In 1962, after failing to convince the CSO to commit itself to farm worker organizing, he resigned his paid CSO job, the first regular paying job he had. He moved to Delano, California where he founded the National Farm Workers Association (NFWA). In September 1965, Cesar's NFWA, with 1200 member families, joined an AFL-CIO sponsored union in a strike against major Delano area table and wine grape growers. Against great odds, Cesar led a successful five-year strike-boycott that rallied millions of supporters to the United Farm Workers. He forged a national support coalition of unions, church groups, students, minorities and consumers. The two unions merged in 1966 to form the UFW, and it became affiliated with the AFL-CIO. Cesar called for a new worldwide grape boycott. By 1975, a Louis Harris poll showed 17 million American adults were honoring the grape boycott. It forced growers to support then California Governor Jerry Brown's collective bargaining law for farm workers, the 1975 Agricultural Labor Relations Act. Since 1975, the UFW won most of the union elections in which it participated. Despite the farm labor board's bureaucratic delays, farm workers made progress. By the early 1980's farm workers numbered in the tens of thousands were working under UFW contracts enjoyed higher pay, family health coverage, pension benefits and other contract protections. In 1991, Cesar received the Aguila Azteca (The Aztec Eagle), Mexico's highest award presented to people of Mexican heritage who have made major contributions outside of Mexico. On August 8, 1994, Cesar became the second Mexican American to receive the Presidential Medal of Freedom, the highest civilian honor in the United States. President Bill Clinton presented this award posthumously. Cesar Chavez passed away on April 23, 1993, at the age of 66.

Recent Trends on China Activated Carbon Industry Essay

All Market Research include new market research report â€Å"http://www.allmarketresearch.com/wiki/china-activated-carbon-industry-report-2013-2015.php† to its huge collection of research reports. All Market Research announces that a new market research report is available in its catalogue:â€Å"http://www.allmarketresearch.com/wiki/china-activated-carbon-industry-report-2013-2015.php† . In recent years, China has seen a growing surge in terms of the production and demand of activated carbon with the export proportion ever declining, on account of intensifying environmental-friendly policies in China as well as accelerated trade protectionism carried out by European and American countries. In 2012, China’s production of activated carbon sustained upward mobility, with the output growing by 5.4% year-on-year to 521,100 tons; and the domestic demand surged by 13.5% year-on-year to 303,000 tons, while the export volume slightly decreased by 3.6% year-on-year to 232,500 tons, with the proportion in output dropping to 48.8%. The estimation shows that the production and consumption of activated carbon in China will grow in a steady way till 2015, with the respective targeted figure realizing 754,000 tons and 448,000 tons. To Have a Copy:http://www.allmarketresearch.com/wiki/china-activated-carbon-industry-report-2013-2015.php In China, the production of activated carbon concentrates in regions abundant in coal resources such as Shanxi and Ningxia. In 2012, enterprises with the annual capacity exceeding 50,000 tons included Ningxia Huahui Activated Carbon Company Limited and Shenhua Ningxia Coal Industry Group. In addition, other coal tycoons also spread their wings towards activated carbon field. A case in point was Datong Coal Mine Group, which started its 100,000 tons/a coal-based activated carbon project in June 2012 with total investment of RMB1.17 billion. Once finished, the expected sales will harvest RMB760 million annually. Wooden activated carbon enterprises in China are largely located in Fujian, Jiangxi, Zhejiang and Jiangsu. But most of them are small-sized ones with the annual capacity ranging from hundreds of tons to thousands of tons. As of late 2012, Fujian Yuanli Actice Carbon Co., Ltd. had realized the capacity of 55,000 tons/a in the wake of capacity expansion and merger of Huaiyushan Activated Carbon and Manzhouli XinFu Activated Carbon, with business coverage from sugar making, food & beverage and food fermentation to medical, water treatment and waste gas treatment. Moreover, enterprises with the annual capacity of wooden activated carbon surpassing 20,000 tons consisted of Zhixing Activated Carbon, Xinsen Carbon Corp., Ltd, etc.