Wrongful Convictions Assignment Example | Topics and Well Written Essays - 750 words

Wrongful Convictions - Assignment Example languishing in jails has recently triggered series of advocacy efforts in order to bring sanity and create order in the system Above all, the fundamental concern in this regard lies in giving justice to each and every member of the society. The case of the United States v. Wade is a clear demonstration of the concept of wrongful convictions that normally affect society. However, unlike in this particular case, certain cases are never appealed and innocent people end up convicted and jailed or executed. In the case of United States v. Wade, it is realized that the crime took place on 21st September, 1964 when a bank in Texas was robbed at a time when two of its employees were actually inside. Later on 24th March, 1965, Joe Wade and two other people were charged with robbing the bank. Upon his arrest, Wade was represented by a counsel who had been appointed for that purpose. When an FBI agent arranged for a lineup in the courthouse in order to trace the culprits, it was unfortunate enough that Wade did not have his counsel present. The two employees present at that time therefore identified Wade as the robber. The same occurrence took place at the trial. However, the two employees were examined to seek any connection wit h the previous lineup. However, Wade’s defense pushed for his acquittal on the premise that the lineup was in violation of the Fifth and Sixth Amendments. The court nevertheless refused that motion and Wade was convicted. The Fifth Circuit however reversed the conviction on the very premise that the lineup was in violation to the Sixth Amendment given that it was done in the absence of the defendant’s counsel (Dressler 65). The point of defense in the original trial was the feeling that the lineup was not in tandem with the Fifth and Sixth amendments. The defense categorically argued that the lineup was conducted in the absence of a counsel and could not therefore be used as the basis for making decision on the case. On the Fifth Amendment,

An Examination of the Wikipedia Site Essay Example | Topics and Well Written Essays - 750 words

An Examination of the Wikipedia Site - Essay Example This has been related to the concept that the quality of control of internet subjects has not been well regulated especially in terms of the origin of the material, its perspectives and even the selection of references. With the users quick to use the information online, they easily fall into the trap of acquiring wrong information on sites such as Wikipedia. From my assessment, Wikipedia has more weaknesses than strengths. One of the limitations is that the site does not have accurate information that the user may need. In many instances, the readers find a great percentage of the pages on the site requiring citation even from the reader themselves (Wikipedia 2015). This means that the author of the work simply collected information from different sources and combined them to get a complete text. In the course of my research in English, I am likely to find inaccurate information and even wrong information on different subjects using the site. I would not even be surprised to find gr ammatical and spelling errors on the site. The page may also embrace a short form of words such as â€Å"bt† to mean â€Å"but†. Other examples of spelling errors include â€Å"port† as opposed to â€Å"part† (Wikipedia 2015). Secondly, Wikipedia is a not a reliable source since it provides a chance for editing by any user (Wikipedia 2015). It is this point that the user may find a lot of misleading information on the subject in question especially with the differing views on different subjects. The quality of the content is, therefore, questionable; thus, not applicable for my research in English. This finding also explains that the claims posted are indeed questionable. As opposed to scholarly articles, Wikipedia contains shallow information that uses headings to lure the users into using their site and applying their findings. At times, the facts presented in the page may not be required, such as a  historical background to merely all topics, and the rest of the information is not provided (Wikipedia 2015).  

Kaesung Industrial Complex in North Korea research paper

Kaesung Industrial Complex in North Korea - Research Paper Example plex is a result of the attempt to improve relations between South Korea and North Korea made by Hyundai Group beginning in 1998 that coincided with the Republic of Korea’s policy (Manyin 5). In addition to this, several dozen South Korean companies had facilities there which include chemical, machinery, textile and electronics factories (Britannica.com). Most of the employees are from North Korea, but still, there are people from southern part too and all together they create a cheap labor for the South. Moreover, it is a duty-free zone that has no restrictions on the use of foreign currency or credit cards (Manyin 6). However, the political situation also plays an important role in the relationships between two countries. For example, the deteriorating inter-Korean relations in 2013 led to both countries’ withdrawal of their employees from the industrial zone. Furthermore, this city is an important cultural and educational center. There were many tombs, palaces and te mples which were destroyed during the war, but hopefully many of them were restored and were designated a UNESCO World Heritage site in 2013 (Britannica.com). The Kaesong Industrial Complex (KIC) is an economic enterprise in which companies of southern Korea have set up factories in a North Korean enclave ten miles north of the demilitarized zone. Although, it is a way for South Korean companies to use cheap labor from North Korea for low-end products. The president Roh Moo-hyun who was a liberal, tried to make Kaesong economically viable. He provided the foreign markets with goods which were produced in the complex. In addition to this, his administration made a lot of attempts to gain a duty-free status for products of Kaesong. Roh tried to place the language in the KORUS FTA. The United States refused to include this language in the agreement because it would give certain benefits to North Korean regime. It is actually the last example of the inter-Korean cooperation projects. Their relations

Origin of Rice Essay Example for Free

Origin of Rice Essay A major component of plants that are starchy in nature, the amyloplast are organelles that store starch. They are classified as plastids, and are also known as starch grains. They are responsible for the conversion of starch into sugar, that gives the starchy plants and tubers energy. Function: Synthesis and storage of starch granules Cell Membrane or Plasma Membrane The cell membrane is a thin layer made up of proteins, lipids, and fats. It forms a protective wall around the organelles contained within the cell. It is selectively permeable and thus, regulates the transportation of materials needed for the survival of the organelles of the cell. Function: Protects the cell from surrounding Cell Wall Unique to plant cells, the cell wall is the fairly rigid, protective wall that resists the strain of physical forces. The cell wall is mainly made up of cellulose fiber and it helps maintain the shape of the cell. Function: Maintain cell pressure and prevent over-expansion of cells Centrosome The centrosome is located close to the nucleus and is a small body made up of radiating tubules. It is responsible for producing and organizing the microtubules. In plant cells, the centrosome is a centriole-free organelle. It is also called the Microtubule-organizing center (MTOC). Function: Regulates cell-cycle progression Chloroplast Found only in plants, chloroplasts are organelles that resemble the structure of the mitochondria. It is a plastid that traps energy from sunlight. It contains chlorophyll molecules, that carry on the process of photosynthesis as well as, give the plants a lush green color. Function: Conducts photosynthesis Cytoplasm The cytoplasm forms the gel-like substance that holds the organelles in the cell. It is a colorless substance that is made up of mainly water, salts and organic molecules. It also contains proteins, that make up the cytoskeleton. We can refer to it as, the stage where all the action in the cell takes place, or as the home of all the organelles of the cell. Function: Site of multiple cell processes including, cell metabolism Golgi Body Known as the golgi complex or the golgi apparatus, it is located near the nucleus. It is a stack of membrane-bound structures that, is involved in the transportation of lipids and modification of proteins. It is crucial in segregating and transporting material within the cell. Function: Sorting, processing and modifying proteins Mitochondrion Known to be the power house or the storehouse of energy of the cell, the mitochondria plays an important role in a cell. They are made up of cristae or finger-like structures, which convert the sugar into Adenosine Triphosphate or ATP, that is energy for the cell. It is responsible for regulating membrane potential, programming the death of the cell and regulating cellular metabolism. Function: Energy production and conversion, regulates cell metabolism Nucleus This is a spherical body that contains various organelles like the nucleolus (where ribosomal RNA is produced) and is surrounded by a nuclear membrane. The nucleus is known to be the control room of the cell. It regulates various cell functions by controlling the protein synthesis of the plant cell. The nucleus contains DNA within the chromosomes. It is a membrane-bound structure that contains the cells hereditary information. Function: Controls expression and transcription of the gene Nucleolus Known to be the heart of the cell, the nucleolus transcribes ribosomal RNA. It is composed of proteins and nucleic acid and is known to be a genetically determined element. Function: Produces ribosomes Peroxisomes Membrane-bound packets of oxidative enzymes, the peroxisomes play a vital role in converting fatty acids to sugar. They also assist the chloroplasts in photo-respiration. Their functions include the glyoxylate cycle that occurs in germinating seeds and photo-respiration in leaves. Function: Breakdown of metabolic hydrogen peroxide Ribosomes They are small packets or granules of RNA that convert amino acids into proteins. It serves as a site of protein synthesis and is therefore termed as the workhorses of protein biosynthesis. Function: Protein builders and synthesizers Rough Endoplasmic Reticulum The rough endoplasmic reticulum or rough ER, is a vast interconnected membrane system located close to the nucleus. The presence of ribosomes on its surface gives it a rough appearance and hence the name. The RER works in accord with the golgi body to send new proteins to their proper destinations. These networks transport materials through the cell and produce proteins in sacs known as cisternae. Function: Manufactures lysosomal enzymes, translating and folding of new proteins Smooth Endoplasmic Reticulum Similar to the structure of the rough ER, the smooth ER is a separate interconnected network membrane structure that is free from ribosomes. The SER transports material through the cell. It is also crucial in producing and digesting lipids and proteins. Function: Manufactures and transports lipids Vacuole Vacuoles are essentially sacs filled with water that help maintain the shape of the cell. It stores nutrients and waste products. Its functions include, isolating materials harmful to the cell, maintaining turgor within the cell and exporting unwanted materials away from the cell.

How small firms differ from large businesses

How small firms differ from large businesses Penrose (1959) stated that small and large firms are as fundamentally different from each other as a caterpillar is from a butterfly; they identify those characteristics of the small firm, other than size, which distinguish it from the larger enterprise. Thus, while creating, establishing and running a small business, these characteristics will influence the small business owners approaches and management style compared to large ones. Wynarczyk et al (1993) argue that there are three central respects in which small firms are different to large firms: Uncertainty The first key area of differences is uncertainty. With regard to uncertainty, three dimensions have been identified: The first uncertainty is the lack of market power, Thus, when creating and establishing a small business, the owner should have a clearer approach of the lack of market power as an external uncertainty. This associates small businesses as the price-taker as they have no power to set prices, as the threats of new entrants is high. However, it can be argued that it depends on what type of small businesses does the owner want to create, establish and run. For instance, focusing on niche markets with good customer-engagement approach, such as a small holiday agency, will make small businesses to have an influence in setting their prices. Hence, small businesses have to seek to compete in other ways such as service, quality, and timeliness. In contrast, large businesses are the price-maker due to high market power; this has to be used carefully to avoid attracting the attention of competition authorities. So, market prices are strongly influenced by large businesses that, through scale economies, should be able to set low prices. The marketing approach would be to use an integrated communication mix such as, mass advertising and PR, as their financial resources allow them to do so. Thus, the competitive focus of small and large businesses is likely to differ sharply. The second source of uncertainty for small firms is their limited customer and product base. A classic example is where small firms simply act as subcontractors to larger firms. Such firms are open to subcontractor vulnerability (Lyons and Bailey, 1993), which is created not only by dependence on dominant customers, but also upon the extent to which output is specialised to particular customers. The smaller firm clearly perceives to be more vulnerable than the larger firm and acts accordingly (Lyons and Bailey, 1993). The third uncertainty relates to the much greater diversity of objectives of the owners of small firms, compared with large firms. Many small business owners seek only to obtain a minimum level of income rather than maximising sales or profits (Storey 1994). Small business owners do not have to concern themselves with reporting their actions to external shareholders and so performance monitoring effectively do not exist. For a small firm, the relationship between the business and the owner is very much closer than it is between the shareholder and the large firm, and so the motivation of the owner of the small firm is a key influence upon the small firm performance (Storey, 1994). Large firm emphasises the importance of control. The central issue is how the owners of the business ensure that the managers of the business act in their interest, and how senior managers exert control over more junior managers. This form of internal conflict is largely absent in small firms (Storey, 1994) where ownership and control are located in the hands of a few people or even a single individual, thus, while running a small business, the owner will adopt a more dynamic and organic management style. In contrast, large businesses are more likely to suffer from internal uncertainty, defined by Curran and Blackburn (2001), as an inability to deliver a product or service consistently throughout the organisation. Much managerial time in large businesses is devoted to address this issue with therefore formality and procedures implemented. Hence, the large businesses tend to have a bureaucratic management style with formal control over performance. Innovation A second key area of difference between small and large firms is their approach to innovation. The role small firms play in innovation relates to their niche role where: it is the ability of the small firm to provide something marginally different, in terms of product or service, which distinguishes it from the more standardised product or service provided by the larger firm (Storey, 1994: 11-12). Small firms are more likely to introduce fundamentally new innovations than larger firms, a feature often attributed to small firms having less commitment to existing practices and products (Pavitt et al. 1987). However, Schumpeter (1934) has provided empirical evidence that large businesses use static measures, and are more innovative than smaller businesses. This is because most small businesses do not set out to be innovative: at best, their key innovation is just to enter a given market. Furthermore, Van Praag and Versloot (2007) stated that small businesses are likely to commercialise innovations but less likely to adopt innovations. However, large businesses innovation capitalise on heavy expenditure on formal research and development. While most small businesses do not innovate, and many fewer undertake formal research and development, those that do are able to bring ideas to the marketplace quickly if they are able to access suitable funding. Evolution The third area of difference between small and large firms is the greater likelihood of evolution and change in the smaller firm (Storey, 1994). Small firms that become larger undergo a number of stage changes which influence the approaches and style of management as well as the structure of the organisation (Scott and Bruce, 1987) than is the case for larger firms (Storey, 1994). Thus, creating, establishing and running a new small business has different approaches, management styles and skills learn through experience, at different stages of the small business development. Churchill and Lewis (1983) summarised the Five Stages of Small Business Growth stating that small businesses have varied management styles and approaches according to the stage the small business is in. For example, being at the existence stage (creating and establishing), the owner has direct supervision management style; his major strategy approach would be to stay alive, thus, there would be no formal systems to follow. Figure : source http://www.tameer.org.pk/images/The_Five_Stages_Of_Small_Business_Growth.pdf [accessed on 17/11/2010] However, not all small businesses grow; some of them fail to survive due to the lack of environmental scanning; finance or planning. Moreover, Hakim (1989), in her survey of approximately 750,000 UK businesses, 55 per cent had no plans for growth, at a time when the economy was growing. The finding was clearly influenced by business size, with 60 per cent of businesses with fewer than 3 workers having no growth aspirations, compared with only 2 per cent of those with 25-49 employees. Hence, the smaller the operational size of the business the less likely it is to seek to increase its scale or growth. Skills Required to Create, Establish and Run a Small Business A skill is simply a knowledge which is demonstrated by action. It is an ability to perform in a certain way. The Five-Must Skills Requires when creating; establishing and running the Small Business Planning skills Personal skills and characteristics Sales and marketing skills Accounting and financial skills Administrative skills These are the basic skills necessary to enable the small business owner to start, develop, finance, and market his small business. Apart from all these skills mentioned, other important skills are needed to run a business mainly: leadership skills; human skills; conceptual skills and technical skills. Planning skills Creating a new business is the pre-start-up phase where planning skills are very important. While creating the business, an appropriate business plan is required which explain the business concept and model (Justin et al 2002). The business plan will require the owner or shareholder to have an organisation-wide approach skill as it consists of the business model, financial, marketing and operational management plan. The approaches towards the business plan in small and large businesses differ. According to (Bridge et al. 1998), the preparation of business plan may be unsuitable for small businesses due to the dynamic changes in the environment. Small business has a more tactical approach to planning as they concentrate on the survival and stability strategy at the creating and establishing stage and an emergent strategy at the running stage In addition, Paul D. Hannon and Andrew Atherton (1997) developed a model of planning in the journal of small firm success and show that there is a critical relationship between planning in small business and strategic awareness capability which lead to the small business success known as the successful orienteer. Nevertheless, this is not always the case for small business owner to be a successful orienteer due to the internal and external factors affecting them. However, in large businesses, they have a strategic (long term vision) approach as regard to their business plan. They emphasised the corporate level of strategy (Philip S, 2003) which aim for the stability and growth. The corporate strategy seek to grow the business by implementing long term marketing strategies (the Ansoff Matrix) and also to achieve higher profitability, sales revenue and to have better competitive advantages over its rivals. Figure : Ansoff Matrix (2007 When creating; establishing and running a small business time management skills are also essential. The small owner should be able to create a work life balance. Small business owner may spend too much time at work. Moreover, their main motivation is their income to satisfy their family needs, thus, they should make effective decisions to balance their business life with their personal life. Figure : The business/Personal overlap In contrast, large businesses have an effective time management skills, due to formal procedures of meeting deadlines and being compliance with legal proceedings. Personal skills In the early stages of business development, the personal characteristics and skills of the small business owner will influence the management style of the business. Thus, the individual attributes influence the skills of the owner which shapes the leadership outcomes. General cognitive ability Motivation Personality Individual attributes Problem solving skills Social judgement skills Knowledge Competencies Leadership outcomes Effective problem solving Performance Table : the three components of the skills model pg. 41 According to Lundberg (1985), the personal skills and characteristics such as problem-solver, determination, self-discipline, analytical skills, good judgement of characters and so on, motivate the small business owner to create and establish and also run his business successfully, and as Birley (1996) mentioned à ¢Ã¢â€š ¬Ã‚ ¦.The owner perceives the business as an extension of his or her personality, intricately bound with family needs and desires. However, many small businesses fail compare to large businesses because they run their business as an extension of their personality. For example, if the small business owner is introvert, quite assertive, make his own decision rather than consulting subordinates or explore the external environment, he/she is more prone to adopt the closed and indirect management style rather than open and direct management style (David A 1993) which may result in failure. The self-motivating skills and aspirations of small business owners are also different from those who operate large businesses. Miner (1997) concluded that small business owners are motivated by their performance, independence, status and family needs. Gray (2002); Hart and Oulton (1996), some are lifestyle owners of small businesses whose object is primarily to obtain a comfortable living for themselves, it may be a hobby that generate incomes or to pass on their business to family members. In contrast, a minority may wish to grow their business rapidly. However, owners or shareholders of large businesses seek to maximise the value of the company. The task management is to achieve this maximisation of shareholders value by seeking profit maximisation and continuous growth and expansion. In addition, the management style will be mostly influenced by the organisational culture, which consists of six elements according to Johnson and Scholes (1992). Figure : Johnson Cultural Web (1992) Networking skills including interpersonal skills are also important. Networks can be defined as: à ¢Ã¢â€š ¬Ã‚ ¦ a firms set of relationships with other organisations (Perez and Sanchez 2002:261). In essence, what Birley (2002) suggests is that individuals use their networks to gain legitimation and resources for their established business. Without the benefit of such support, the implication is that many new established (start-up) businesses would be stillborn. The social network approach differ from the way small businesses use it compared to large ones in order to support the development of their business. Small businesses uses the support of its family, limited customers base and other owners of small businesses to develop the establish organisation whereas, large businesses use a pool of social network (stakeholders). Thus, Birley states the credibility is lower in small businesses, than in large businesses due to the lack of market power and sources of funds to satisfy the suppliers and customers. Figure : The credibility cycle (Sue Birley and David Norburn, 1976) Sales and Marketing skills The business should create awareness of his product or service and distinguish them from their competitors by effective marketing skills. The business then needs to be able to convert interest into cash! This is where sales, oral communication, negotiation skills and interpersonal skills come in. Thus, the small business owner should rely on their effective sales and marketing skills to maintain and acquire good customer relationship. For example, identify the sales opportunity, be confident to handle objection and negotiate to reach win-win situation (Fred E, 1987). In large business, lot of finances are put towards sales and marketing. In addition, specialist sales and marketing manager, with high competence, expertise and knowledge, are those who deal with different sales and marketing techniques to be implemented in order to have good customer relationship and expand their product/market portfolio. Besides, in large businesses, brand positioning plays a big role in their marketing strategy. Shocker et al. (1994) and Hatten and Schendel (1977) reveals that in large businesses, brand can be a positive factor influencing sales. It provides the customer with the awareness leading to confidence and ultimately loyalty. They also showed that small businesses such as hairdresser; pubs, corner shops etc., have no brand value, apart from some local loyalty. Thus, protecting a positive brand image is vital for large businesses. Accounting and Financial skills When creating, establishing and running a small business, the most important skill that the owner should possess is the financial skill. To implement the business idea, source of finance is required to start-up and run the establishment. Financial skills include: planning annual budget; cash flow forecast, effective management of the cash cycle; avoid overtrading and the profit and loss account should be analysed. In small businesses the owner has hands-on skills, thus, such financial skills are needed to survive and remain in existence. However, large businesses are in better advantage as they not only have specialist financial analysts to analyse their accounts and prepare their budgets, but the banks and building societies also help them. In addition, Ang (1991), conducted empirical evidence and stated that small businesses are funded primarily from the owners savings and retained profits and the use of external equity is rare. Small businesses pay higher interest rates on borrowed funds than large businesses, which have a wide choice of sources of finance. Thus, the small businesses faces lots of financial difficulties as mentioned in the figure below. Figure : The Financial Skills face by Small Business Owners by Jonathan Tucker and Jonathan Lean -2003 Administrative skills Administrative skills include a wide range of organisational and technical skills from planning, organising, scheduling and to staffing. Thus, a small business owner should possess administrative skills, such as good filing procedure for the billings, invoices and so. In contrast, large businesses normally have the finance to invest in latest technology in order to manage their administrative skills. Key Differences in Running Small businesses and Large Businesses: Skills; Approaches and Management style The management styles are distinctive ways of making decisions and relating to subordinates. Different management styles can be used dependent on the culture of the business, the nature of the task, the nature of the workforce and the personality and skills of the owners or leaders. As discussed in the essay, the small business owners skills are more or less the same as the entrepreneurial skills, they adopt an adaptive and organic management style whereas large businesses ownership skills are more predictive and mechanist which relate to their autocratic management style. Figure : Differences between the small business management skills and management style compared to large ones (Beaven and Jenning- 1995) However, stating that large businesses have a more autocratic management style due to its bureaucratic organisational structure, is too generalised, ignoring the fact that the management styles and the relative importance of the skills (technical; decision-making and interpersonal skills) varies within the level of management. Management level Primary Management Skills needed Primary Management Functions Performed Management or leadership styles Top Decision-Making and Interpersonal skills Planning and Organising Participative leadership style Middle Balance of Interpersonal; Technical; and Decision-Making skills Balance of all five functions (Planning; Organising; Controlling; staffing and Leading) Balance of autocratic; democratic and paternalistic as result to circumstances First-Line Technical and Interpersonal Skills leading and controlling Balance of democratic and autocratic as result to circumstances Table : Skill needed; Function performed and Management styles used at different management levels. Source: lassier (2002) In addition, the culture prevails in the organisation will shape the organisational structure. Nowadays, many large businesses, such as BQ are concentrating in developing a flat structure, with more flexibility. Besides, approaches and management styles changes according to circumstances and objectives. Skills can quickly become obsolete if owners or shareholders are not constantly updating them. Thus, training and development and knowledge management of the owners and employees are very crucial. In small businesses, owners management style will be influenced by their skills and characteristics, thus, stating that due to informal control and undifferentiated roles, the small businesses have an organic or flatter structure due to fewer tiers is not always the case. Some small businesses fail as some owners are autocratic as they want things to be done their way and are often the one who makes decisions without consulting the employees and analysing the external environment. The table below will provide evidences of the key differences between small and large businesses as regard to the running of the business which will influence the owners skills, approaches and management style. Aspect (Evidence) Small Business Large Business What difference does it make? Strategy (Man et al. 2002; Rangone 1999) Has to be flexible since it lacks the opportunity to reap scale economies. So, more likely to develop an emergent strategy The large business will seek to exploit its price advantages, and advantage obtained by heavy investment in people, fixed assets or research and development The development of new markets and particular new industries has often been pioneered by smaller businesses. Once, those industries have become established, average business size increases because economies of scale become important Political influence (Dannreuther 1999) The individual small business, acting alone, will have minimal impact on government. Large businesses are widely consulted by governments, even at the early stage when legislation is considered. Large businesses have considerable power and can influence the formulation of government policy. If legislation. However, large businesses argue that, whilst they comply fully with legislation, smaller businesses can avoid enforcement by avoiding the scrutiny of government. Wages and benefits for workers (Brown et al. 1990; Troske, 1999) Small businesses generally pay lower wages and provide fewer fringe benefits Larger businesses pay higher wages and provide more fringe benefits Large and small businesses hire different types of worker. The small business worker is more likely to be either old or young, attracted by a team ethnic and less likely to have formal qualifications. Human resources (Vickers et al. 2005; Forth et al. 2006) At their best, small businesses provide a happy environment in which to work. At, their worst, they can be unsafe, exploitative, working environments. Large businesses are more likely to attract prime age workers, with formal qualifications, and those seeking a career. Overall, job satisfaction appears to be higher in small than in large businesses. Large business workers are likely to receive a higher remuneration package but small business workers may derive greater satisfaction from flexibility and sense of teamwork. Training and Recruitment (Carroll et al. 1999; Storey 2005) Small businesses provide less training and recruit new staff through informal channels. Large businesses are much more likely to provide formal training and use formal channels to recruit new staff. Small businesses, because they emphasise the use of informal procedures, are viewed by some as backward. But this is to misunderstand the motivations and constraints of small business owners. What is less clear is whether small businesses provide more informal training than large ones. Competitive advantages (Jennings and Breaver 1997) Flexible, responsive to the customer. Able to undertake investment and provide a more comprehensive service. Large businesses can reap scale economies, so they are more likely to be able to compete on price. They are also able to supply a wider range of liked services, avoiding the need for customers to have to shop around. Table : The key differences between small and large businesses; Source: Storey and Greene (2010) Conclusion Thus, creating, establishing and running a small business does require some of the skills as operating large ones, but the approaches and management styles will be different to large and small businesses due to their differences in characteristics and the different factors affecting them internally and externally. Besides, the small business owners do have different goals, plan, skills and approaches. For example, a small business owner has undifferentiated roles, thus need to have a hand-on skills to promote diversity and flexibility. However, it was also mentioned that skills and management style varies upon the levels of management and also people are different individuals who use different management styles according to the circumstances and objectives. The key advantage of the small business is that while the external uncertainty they experienced are greater than large businesses, they experienced less internal uncertainties due to their close control over the business. In addition, small businesses see themselves as customer focused, placing emphasis on service. However, generalisation is untrue: that all small businesses have lack of market power and do not grow. For example, the crematorium, a small business was able to exert real market power over a competitor. We should not forget as well that skills; approaches and management style of small businesses would be different to large businesses because small businesses tend to be higher in the risk of failure. The main reasons are normally lack of contingency plans, poor risk assessment done and lack of leadership style. This is why small businesses concentrate on cash rather than profit (Birley, 1992).

Financial Regulation in the UK and Ireland Essay -- Finance Business E

Financial Regulation in the UK and Ireland There has been considerable changes in the regulation of financial markets in the UK and other countries. Why is this? Financial markets tend to be more highly regulated than other markets. Explain why. In May 1997, the British Chancellor of the Exchequer made the decision to move the responsibility of supervision of financial institutions into the hands of a new regulatory authority, the Financial Services Authority (FSA). This new authority replaced the Securities and Investments Board and took over responsibility for the supervision of banks, listed money market institutions and clearing houses from the Bank of England. (Blake, 1999). Overall responsibility for regulation of financial markets lies with HM Treasury and is then divided up between the Bank of England and the FSA. Now, the Bank of England’s remit is the operation of monetary policy and ensuring the stability of the financial system. The FSA has five primary functions: Authorisation of market participants; Prudential supervision of banks, insurance companies, securities firms and fund managers, and regulation of their conduct of business; Investigation, enforcement and discipline; Regulation of investment exchanges and clearing houses; Regulation of collective investment schemes. The change has been a move away from largely self-regulation to a combination of self-regulation and government interventionist regulation. Before 1997 the UK relied ‘primarily on private regulation (by the stock exchange and, to an increasing extent, by the institutes of chartered accountants).’ (Benston, 1985). The regulation of the financial system in the UK however is not as explicit as the system in the US where the Securities and Exchange Commission holds some of the most extensive regulations, which are viewed by some as being excessive. "The more complex and formal US rules and procedures do not permit as much flexibility and speed" (Benston, 1995). So the UK’s new system is a compromise between the best of self regulation and statutory regulation to ensure the financial markets work in an efficient and orderly manner. The FSA reinforces the orderly operation of the UK markets. For example, when a firm wishes to list on the London Stock Exchange (LSE), they must satisfy requirements of the previously self-regulatory LSE as well as ... ...es it has come in the form of strict regulation, for others in relatively flexible regulation. The challenges now come from the increasing need for harmonisation of regulations in the EU and also the need to react to the effect that technology can have on financial markets, something that many current financial regulatory systems have yet to tackle. Works Cited: Benston, G.J. ‘Towards a Cost/Benefit analysis of the SEC: Have the British a Better Way?, Midland Corporate Finance Journal, 1985. Blake, D. ‘Financial Market Analysis.’ Wiley, 1999 Goodhart et al. ‘Financial Regulation Why, How and Where Now?’, Routledge, 1998. Labate, J. ‘Senate Banking chief Phil Gramm orders overhaul of legislation’ Financial Times, Dec 27 2000. Leader, ‘Neuer Markt’ Financial Times, Jan 3 2001 London Stock Exchange, ‘Admission and Disclosure Standards’ May 2000. Quinn, T.P. ‘The Economics of Financial Regulation: A Survey.’, Central Bank of Ireland. 1992 Stewart, J. ‘The Changing Nature of Financial Regulation in Ireland’ , Journal of Financial Services Research , 1996. Stewart, J. ‘The Effects of BIS Capital Adequacy Ratios on Bank financing, Irish Accounting Review,

Comparing the Beauty of Poe and Emerson Essay -- comparison compare co

The Beauty of Poe and Emerson      Ã‚  Ã‚  Ã‚   They say that beauty is in the eye of the beholder. As stated in Edgar Allan Poe's "The Poetic Principle," a concept of beauty can only be achieved through the use of emotion, an "excitement of the soul," a necessary element to any worthwhile poem (Poe 8). Poe's fascination with the mystery of death and the afterlife are often clearly rooted in his poems and provide a basis for himself and the reader to truly experience his concept of beauty. Although also a believer in portraying beauty through poetry, Ralph Waldo Emerson found beauty to be eminent in nature and all things created by the Oversoul. Beauty for Emerson is not an idea or unknown, it is visible all around him.    To Poe beauty can only arise from "excitement of the soul," and such emotion can only be brought upon by feelings of melancholy.    He reiterates the importance of melancholy in The Philosophy of Composition--"Now, never losing sight of the object supremeness, or perfection, at all points, I asked myself--- "Of all melancholy topics, what, according to the universal understanding of mankind, is the most melancholy?" Death --- was the obvious reply. "And when," I said, "is this most melancholy of topics most poetical?" From what I have already explained at some length, the answer, here also, is obvious-- "When it most closely allies itself to Beauty: the death, then, of a beautiful woman is, unquestionably, the most poetical topic in the world-- and equally is it beyond doubt that the lips best suited for such a topic are those of a bereaved lover" (Poe 265).    Melancholy and beauty go hand in hand for Poe. If his goal is to bring about the "excitement of the soul," then that can only be achie... ...mself on the beauty of melancholy and the mystery of the afterlife to the point of extreme emotion, while Emerson relayed beauty through the Oversoul. Both revolutionaries of nineteenth century poetry, their works will continue to place a sense of beauty in all who reads them, and live up to the saying: --beauty is in the eye of the beholder.    Works Cited Emerson, Ralph Waldo. "Each and All." The Columbia Anthology of American Poetry. Ed. Jay Parini. New York: Columbia UP, 1993. 95-96. ---. "X. Essays. The Poet." The Harvard Classics. <wysiwyg://48/http://bartleby.com/5/110.html>. Poe, Edgar Allan. "The Philosophy of Composition," The Works of the Late Edgar Allan Poe, vol. II, 1850, pp. 259-270. ---. "The Poetic Principle" (D), The Works of the Late Edgar Allan Poe, vol. III, 1850, pp. 1-20. ---. "Annabel Lee." Parini 161-162.