The, Land Of Opportunities By James Truslow Adams

The United States of America is often known as the â€Å"Land of Opportunities.† James Truslow Adams in 1931 wrote a book titled The Epic of America, and in it stated [the American Dream is a] dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement†¦ [It is] a dream of social order in which each man and each woman shall be able †¦ [to] be recognized by others for what they are, regardless of the fortuitous circumstances of birth or position.† (Adams). However, this American Dream can be hard to accomplish if one is living in poverty without the necessary resources to put their abilities to use. It is even more difficult for a child in poverty to gain access to these resources, let alone express their abilities and talents with them. Poverty in America affects children under the age of 18 academically, mentally, and physically, in addition to how well they may do in the futu re in regards to their education and career aspects. The word â€Å"poverty† is an abstract noun. This being said, everyone views poverty differently. Poverty can be especially difficult for a child to understand. For example, a child might think that they are living in poverty because they live in a house that is smaller compared to the size of houses that their friends live in. A different child might have an even smaller house than the first child and be envious of not only the first child, but of the other children that haveShow MoreRelatedThe American Dream : The Origin Of The American Dream1527 Words   |  7 Pagesto the success of it’s people. These components were noted by Tocqueville as â€Å"abundant and fertile land, countless opportunities for people to acquire land and make a living, lack of a feudal aristocracy that blocked the ambitious, and the independent spirit encouraged by frontier living† (â€Å"American Political Culture†). Alexis observed that in this newly founded country with loads of potential land, there were no boundaries or preset rules that prevented it’s people from fulfilling their dreams;Read MoreJohn Steinbeck s Of Mice And Men1429 Words   |  6 Pagesdream came from the declaration of independence but I consider the first true interpretation of the american dream came from James Truslow Adams. The american dream according to James Truslow Adams, in his book The Epic of America states that: â€Å"The American Dream is that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement. It is a difficult dream for the European upper classes to interpret adequatelyRead MoreThe Great Gatsby By F. Scott Fitzgerald Essay986 Words   |  4 Pageshave more things than the next person. The actual term â€Å"American Dream† became widespread in the 20th century by James Truslow Adams when he published his book Epic of America in 1931. Adams explains the American Dream as â€Å"that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement† (â€Å"James Truslow Adams Papers†). Ever since then, the term and theme of the â€Å"American Dream† have been used in multiple literary piecesRead MoreThe American Dream: A False Sense of Hope Essay1543 Words   |  7 Pageswealthy. Surpris ingly however, the concept of the American Dream is a fairly new idea. The term the American Dream was coined by writer and historian James Truslow Adams. In Adams’ 1931 work The Epic of America he defined the American Dream as: That dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement. It is a difficult dream for the European upper classes to interpret adequately, and too many of us ourselvesRead MoreThe American Dream By Ralph Ellison1465 Words   |  6 Pagesis relatively new and can stand for different connotations depending on the context. It was created by James Truslow Adams and written down in his book, The Epic of America, which was published in 1931. He states that the American dream is that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement†(Adams). However, the basis for the foundation can be traced back to the sixteenth century Puritans. The PuritansRead MoreThe Grapes Of Wrath And Of Mice And Men1644 Words   |  7 Pagesthe smarter and much more ordinary person out of the two, and Lennie, who is control led by his abundance of strength but very little mental capacity, set off to Soledad, California to acquire their dreams of settling down on a private owned piece of land and raise farm animals. The reasons behind Lennie and George’s previous migration is because of Lennie’s uncontrollable strength and urge to stroke soft things, resulting to charges of rape towards a women when he would not let go of her dress. SteinbeckRead MoreThe Idea of the â€Å"American Dream†1101 Words   |  5 PagesThe American Dream Final Exam By: Uday Govindswamy Period 2 The idea of the â€Å"American Dream† was first used in the book The Epic of America, written by James Truslow Adams, in 1931. Adams stated that the American Dream is, â€Å"the dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement†¦(31) â€Å". The key elements of the American Dream include: access to a college education, owning a home, enjoying politicalRead MoreThe American Dream By Alexis De Tocqueville1566 Words   |  7 PagesThe American Dream is the idea that every United States citizen has equal opportunity to achieve success through hard work and determination. However, ideas of the dream have evolved throughout time from the 18th century up to present day. The general population’s view and my view of the American Dream both have altered throughout time. My idea of the American Dream has developed from not only today’s views on The Dream, but also from t he evolutionary process the meaning has been through. ThroughoutRead MoreThe American Dream By James Truslow Adams1500 Words   |  6 Pageslast week. But even so, this shared dream faces problems. To solve the problem, the American Dream has to be defined. James Truslow Adams, author of the 1931 book The Epic of America, was the first person to mention and therefore define the American Dream. He established it as: â€Å"[T]hat dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement†¦ It is not a dream of motor cars and high wages merely, but a dream ofRead MoreThe Importance Of The American Dream1231 Words   |  5 PagesS. has an equal opportunity to succeed has been around since 1931. The problem with the American dream today is that in reality people don’t have the same opportunities as they used to. The American Dream may actually just be a dream with no real evidence to prove it’s true. Rana Foroohar, author of â€Å"What Ever Happened to Upward Mobility,† discusses why the American Dream isn’t the same as it used to be and how other countries are doing better at providing equality and opportunity than the United

Questions On Computer Skills Developed Over The Semester

HRER 816 Lesson 15 Assignment Student Name: Stephanie R. White Last 4 digits of your PSU ID Number: 1585 Complete the following assignment directly on this document. Select the Submit Assignment button and use the File Upload tab to upload your file. Select Submit Assignment to complete your assignment. There is no set volume or word count expected for your answers. APPLICATION (50 points) This last assignment asks you to use a variety of skills developed over the semester. You will be jumping right into today’s headlines by looking at a specific policy or piece of legislation related to labor markets and the macroeconomy. Be sure to read the materials on the macroeconomy from the reading list before starting the assignment. This†¦show more content†¦Unfortunately, the state has not been able to provide them with employment opportunities. Furthermore, economic policies on unemployment are specific steps taken by the government to reduce the rate of unemployment. Ideally, the only solution to higher rates of unemployment is to create more job opportunities. An economy which experiences 2-3% growth can comfortably create more than 150,000 jobs. However, when it fails to do so, it means the economic growth is below 2%. â€Å"A very low economic growth calls for drastic monetary policies, for instance, making an elaborate policy to borrow from the Federal Reserves† (Bittle Jean, 2012). â€Å"Monetary policy consists of the deliberate actions taken by the Federal Reserve authorities to adjust the nation’s money supply and interest rates to promote full employment, price stability, and economic growth† (Contemporary Labor Economics, 2013). Monetary policies from the Federal reserves have been effective since they give the United States’ families an opportunity to borrow at cheaper rates. Contrary, the â€Å"Federal Reserve says it’s time to take away the punch bowl† (Soergel, 2017). Even though monetary policies have been instrumental in reducing the rates of unemployment in the United States, these policies have been supported and opposed on equal measures. The Federal Reserve makes use of monetary policy to create more money which allowsShow MoreRelatedHow I Learned At University Of Miami1139 Words   |  5 PagesSummarizing Your Semester While I was attending one of my classes, the professor asked us a surprising question regarding our purpose for studying at University of Miami. The question was whether our goal is to claim the Bachelor degree or expanding our knowledge about the major we’re studying? I was completely shocked by the question because I have never thought about studying engineering in this perspective. All I wanted was to get the Bachelor degree in order to secure my future. I kept thinkingRead More The Connections Between Artificial Intelligence and Other Fields1724 Words   |  7 Pageshave existed, and eventually programming a machine to do the same. This incredible capacity to find solutions is what AI offers to so many other fields. Artificial intelligence research is not tied to the fields of engineering, psychology, or even computer science. The techniques used in AI have found uses within a large number of other fields. Within the course of this paper, the elements of AI will be outlin ed, and the way in which they benefit other fields will be explored. Several examples of theseRead MoreThe Frequency of Social and Intellectual Activities Within Young Adults and Their Influences on Cognitive Functioning1759 Words   |  7 PagesThe aim of this project is to investigate the frequency of both social and intellectual activities within young adults (university students) and to determine which has more influence on their cognitive functioning skills such as attention, perception, memory, problem solving and reasoning. There has been a lot of research into the decline in cognitive abilities as we get older and how our lifestyle affects these abilities. However, there is a lack of research considering the lifestyle effects inRead MoreReflection On Self Evaluation / Reflections1612 Words   |  7 PagesSelf Evaluation/ Reflections Every one has their subjects that they love and hate, and for it was defiantly writing. Writing is something I dreaded for a long time; I developed my hatred towards writing since probably elementary school. I hate writing when I’m expected to put a spin on a subject that just doesn’t work for me, personally. There are many times when I have papers due and sometimes I feel like I have nothing to say towards the topic. I could write a paragraph but to continuously writeRead MoreMusic Industry: Written Report1615 Words   |  7 Pages[pic] Music Industry Assignment 2 (of 2) Level 6 - Semester 1 2012/13 Module Leader: Justin Morey (j.morey@leedsmet.ac.uk) - Room Caedmon 218 Teaching Team: Bob Brazill Andrew Fryer Justin Morey Sam Nicholls Guest Speakers tbc. This assignment is one half of the work required for this module. You will also need to complete Assignment 1. Assignment 2 (of 2) - Written Report (50%) Answer one of the following questions (1600-2000 words) 1. You are a member of a band whichRead MoreThe Science Of Computer Science1277 Words   |  6 PagesAcademic Statement of Purpose NAME: Master of Science in Computer Science The 21st century has been driven by the advances of technology. Its applications span from the primitive audio players to the advanced robotics involving Artificial Intelligence. All this has happened only because of the continuous development of the modern technology. This rapidly advancing field of science attracted my interest and made me choose Computer Science as the major field of study in my Bachelor of Engineering.Read MoreBenefits Of Distance Education1704 Words   |  7 Pagessuch as those may not be avoidable for all, though. For those who do not have computer or internet access, distance education is not an option. Although it may not be available to all, online courses are usually accessible to many people and give them an opportunity for an education. Distance education makes learning and communication easier for students and teachers alike. The comfort students find through talking over the internet can help them express themselves to their teacher in a way they would Read MoreMy Experience As A Pre-Pharmacy Student Essay1681 Words   |  7 Pagesargue that majoring in Pharmacy is too difficult, I would be their nemesis. As a college student I witness many students pursuing certain professions because they know their college years will be a breeze. I have never been one of those students. Over the past couple of years I have matured and have become a well-rounded person because of my involvement in school. Being a pre-pharmacy student has taught me how to strive for excellence in my classes and in other day- to-day activities. Spending hoursRead MoreWhy I Am Interested About Psychology And Become A Clinical Psychologist Essay1732 Words   |  7 Pagesvery excited about! I’m quite friendly and a people’s person, everyone that meets me usually tells me how easy I am to get along with. I can quite honestly start a conversation with anyone and am very chatty! Throughout my years at RMIT, I have developed lifelong friendships that I value so much. 3. Demonstrated ability to facilitate learning (experience gained in any context will be highly valued) In my spare time, I tutor my cousins with their mathematics and English homework. A week ago one ofRead MoreEssay on Counselling Skills2275 Words   |  10 Pagesinvolves the counsellor using skills in which they possess in order to communicate effectively with clients (Hough, 1998). This reflective essay clearly articulates my application of counselling skills used in this practice session and suggestions for improvement. It will provide a summary of the session, identification of a range of skills used and a brief explanation of the reasons for using the skill. It will also provide an evaluation of my application of the skills chosen, including verbatim examples

Swot Analysis of the Green Directory Free Essays

SWOT Analysis Of The Green Directory Strengths: –The Green Directory (â€Å"GD†) allows unlimited access for all users and no fee is required. –The relevant information is available to all visitors. –GD recommends and presents only classified, selected and specialised companies –Website presentation is clearly structured and designed. We will write a custom essay sample on Swot Analysis of the Green Directory or any similar topic only for you Order Now –Provides ‘one-stop service’ website, as well as the leading ‘green’ guides within Australia. –Easy to find directory – GD provides direct links to its partners, sponsors and advertisers. -Wide range of services and products as well as topics has made the website easy for user to find anything related ‘Green’. Weaknesses: — Unclear information on the support and recommendations by the Australian Government. — GD is just facilitator which means that interested visitors have to contact the listed companies directly. –The benefits for advertising are not clearly shown in the website. –Online enquiry form is not available – Interested visitors in ‘green’ products and services have to contact the listed companies directly. -Certain information provided in the web page is not up to date. –Poor maintenance of the website as there are few missing links found in the website. –Limited information about local events, fairs and exhibitions. –No contact number or hotline number for customer enquiry Opportunities: –Increase the profile of GD by cooperation with nationwide and regional publishers (such as Yellow Pages, newspaper, magazine) as well as popular ‘green’ institutions. -It is a green awareness happening all over the world and it’s about social responsibility and ethic of environmental friendly. –Further enhance the website by placing more latest offers and products photos to attract more users. –Send frequent e-mail to users to keep them updated with the latest information. –Provide a hotline number to handle real-time customer call-in enquiry to improve the customer service –Provide hardcopy brochure when requested by user so as not only limit the usage to internet users only Threats: -Pe ople without internet access have not the opportunity to receive the requested information. –Unavailable/ inaccurate information to users due to the missing/ outdated contents might cause reputational risk to the GD. –Easy to copy by competitor to create new business/ competition. –Green products price usually higher than normal product that would cause very big investment to the users. Thus there is a challenge in convincing user to purchase without much attractive promotion/ offer. –Data security is not clarified and this might affects customer confidence. How to cite Swot Analysis of the Green Directory, Papers

Perspective and Values of Generation Y

Question: In what way does your perspective and your values align with the generations as referenced in our textbook (see Manning Curtis, 2015, p. 336)? Do you share the values and perspectives of several generations? Only one in particular? Answer: Generation Y are regarded as millennial. They are found to be multitasking, tech-savvy, ethnically diverse and independent (Bolton et al., 2013). The people who were born between 1980- 1999 are known as Generation Y. People of this generation had had experienced the evolution of technology. From internet blooming to modernisation of equipments, this generation had come across various changes for the betterment of the society (Bilgihan et al., 2013). This had transformed them into multitasked and tech-savvy person as they have grown up. References Bilgihan, A., Okumus, F., Cobanoglu, C. (2013). Generation Y travelers commitment to online social network websites.Tourism Management,35, 13-22. Bolton, R. N., Parasuraman, A., Hoefnagels, A., Migchels, N., Kabadayi, S., Gruber, T., ... Solnet, D. (2013). Understanding Generation Y and their use of social media: a review and research agenda.Journal of Service Management,24(3), 245-267.

The Perspective of Cultural Differences Essay Example

The Perspective of Cultural Differences Paper The Perspective of Cultural Differences The Myth of the Latin Women by Judith Ortiz Cofer, the author states how she has been treated by different people in different countries due to their conception of her as a Latin woman. She points out several incidents where she is viewed, stereotypically, as a woman only capable of being a housewife and as a sexual object. She also shows the cross-cultural conflict Hispanics have to deal with on an everyday basis. This country, the United States is purely dominated by Caucasians, where cultural traditions are seeing in Latin women, mistakenly, something purely sexual. She points out these differences to readers to understand why there should not be racial stereotype and gender in the society. In Cofers essay, she talks about the controversial stereotypes that many Latin American women experienced and are still experiencing. In the article, she is trying to reach a specified audience of Latin American women who might have been exposed to such stereotypes themselves-for example, that of the Hispanic woman as Hot Tamale or sexual firebrand (Cofer 629). Then, she has her larger audience she is going towards, the people in this world who elieve in the stereotypes of Latin American women. A few examples are that all Latin girls are involved in some type of traditional womans work type of Job, cannot pronounce their words are energetic and sexy. She explains a personal situation when she went to a formal dance back in her grade school days. A boy asked her to go with him to dance, and of course she said yes. Throughout the formal dance, the boy leaned in for a kiss, but she quickly turned away, and then his response was, l thought you Latin girls were mature(Cofer 629). We will write a custom essay sample on The Perspective of Cultural Differences specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Perspective of Cultural Differences specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Perspective of Cultural Differences specifically for you FOR ONLY $16.38 $13.9/page Hire Writer One can interpret from this portion ut of the article that an overarching theme to the authors writing style is her past experiences represented in a way that is not too forward on such a touchy subject as racial stereotypes but more in depth and revealing about actual problems experienced on this subject. The author uses very little Spanish in her article, but she used common Spanish language that even non-Spanish speaking people could still pick up on the language intended meaning. The author understands her audience is multi-cultural, therefore has different boundaries she must tip toe around. By giving some example of the words casas [households], bodega [grocery]. She repeats one word throughout the article which is Latin and Latina. She is proving a point, and reminds her audience that she is only talking about the stereotypes of Latinas and no one else. Therefore, she relies heavily on a very simplistic informative tone that expresses her experience clearly, but not in a strictly one culture view. By choosing the Spanish words to help identify the culture that she is describing she ties in people outside of that culture as well and does not use too complicated grammar for non-Spanish speakers. She wants to get her point across to the reader to not think of any other stereotypes that might be prevalent in their cultures due to her inexperience in those cultures. The tone that author created in her work has multiple aspects to it. First of all, the theme of her tone is one of serious information that has been compiled out of her past experiences. However reiterates some of the shameful racist acts she has encountered. Late one evening after the theater, my companion and I listened as the man half-recited, half bellowed Dont Cry for me, Argentina. (Cofer 630). Readers think this is the most crucial aspect f her tone in the paper, due to the fact that it gives her audience time to move away from dry information, and yet as they hear her story, they can also feel a sense of right and wrong, and how terrible these stereotypes really get. The final piece of tone that one notices is an underlying anger. She makes clear recollections of many stereotypical experiences right before she ends each one of these, there is a quick statement or interjection of hard, cold, and remembering anger at these terrible experiences and stereotypes. In retrospect I understand that my anger gave my eading fire, that I have almost always taken doubts in my abilities as a challenge-and that the result is, most times, a feeling of satisfaction at having won a convert when I see the cold, appraising eyes warm to my words, the body language change, the smile that indicates that I have opened some avenue for communication( Cofer 631). The author has made an excellent case to why it is desperately important that racial stereotypes be uprooted and forgotten. That she is a proud Latina woman does not mean she is in some narrow minded manner of thinking that would allow one to excuse her in a stereotypical manner. We are who we make ourselves in this world; the author proved that through all the stereotypes and hardships one might experience. She proved to be a talented, well-educated and expressive writer that represents her life experiences in a relevant method, making one think about the wall of stereotypes that surround these dark bouts of cruelty, which have held together negative cultural boundaries for so long. Works Cited Cofer, Judith Ortiz. The Myth of the Latin Woman: I Just Met a Girl Named Maria. Steps to Writhing Well with Additional Reading. 9th ed. Ed by Jean Wyrick . Boston: wadsworth Cengage, 2014. 625-627.

Stock Dividends and Stock Splits Essays

Stock Dividends and Stock Splits Essays Stock Dividends and Stock Splits Essay Stock Dividends and Stock Splits Essay For investors, it is important to understand stock dividends and stock splits. Stock dividend is different from stock split.   While it is true that, in both cases, new shares of stock are issued to current stockholders, distinction between the two has been recognized.   The distinctive difference between a stock dividend and a stock split is that in the former, there is a capitalization of earnings or profits, together with a distribution of the added shares which evidence the assets transferred to capital, while in the latter, there is a mere increase in the number of shares which evidence ownership without altering the amount of the capital, surplus or segregated earnings.   In short, a stock split is but a dividing up of the outstanding shares of the corporation into a greater number of units without touching the stockholder’s original proportional participating interest in the corporation.   Stock split is basically one of form and not of s ubstance.Concept of dividendsA stock corporation subsists to make a profit and to allot a percentage of the profits to its stockholders.   The board of directors of a public corporation may declare dividends out of the unrestricted retained earnings which shall be payable either in cash, or in stock to all stockholders on the basis of outstanding shares held by them.   A dividend is that part or portion of the profits of a corporation set aside, declared and ordered by the directors to be paid ratably to the stockholders on demand or at a fixed time.   It is a payment to stockholders of a corporation as a return on their investment.   It is a feature of a dividend that all of the stockholders of the same class share in it in proportion to the respective amounts of stock which they hold.Without disturbing the capital stock, a dividend is an aggregate amount which can be shared among stockholders.   The term has been considered as suggesting that there must be a surplus or p rofits to be divided.   To warrant the declaration of dividends, there must be actual bona fide surplus profits or earnings over and above all debts and liabilities of the corporation.   Although a corporation has earned no profit from the current period, it may properly pay dividends from accumulated surplus out of previous years.   On the other hand, dividends may not be declared as long as a shortfall exists although; it has realized actual profit in the current year.Stock dividendsInstead of cash, a corporation may opt to declare stock dividend, which is a dividend payable in unissued or increased or additional shares.   Stock dividends do not decrease the value of the stockholder’s interest; they only bring down the cost per share of the stockholdings. To illustrate, Mr. X owned 200 shares of stock at $10 per share worth $2,000.   The company declared and distributed 25% stock dividend.   Mr. X would now own 250 shares for the same value of $2,000, with a new value per share of $8 (Heakal, 2003).   A corporation may increase its authorized capital stock by way of stock dividends without touching its unissued shares as long as there are retained earnings to justify the declaration.The declaration of stock dividend may be revoked at anytime before the actual issuance of the stock.   Unlike in cash dividend, a stock dividend requires, as a general rule, more than a mere declaration to make it effective.   It must be approved by the stockholders. Until the stock is actually issued, or at least in some manner especially set apart to the stockholders, its effect is not complete.   The so called stock dividend in shares of the kind already held gives the shareholder nothing in the way of a distribution of assets, but merely divides his existing shares into smaller units.   There is no increase in his proportionate claim upon the assets of the corporation or income by reason of such a paper dividend.   There is no obligation upon th e corporation to declare stock dividends, which are not distributions but only a change of the share and capital structure.   Since the declaration of stock dividend gives the stockholder nothing until all the formalities necessary to a valid increase of stock are complied with, its revocation, therefore, takes away nothing.   But unless rescinded, the shareholders have absolute right to their respective shares in the stock dividend so declared and actual delivery of the corresponding certificate is not essential to make the shareholder the owner of the dividend (De Leon, l993).Dividends DatesEssentially, there are three dates to observe in dealing with dividends.   The first to consider is the date of declaration where the board declares dividend and sets the amount of dividend, the payment date and the ex-dividend date. Next is the record date, where all list of of current stockholders who are to receive dividends are rolled up. The most important date is the 2-day period be fore the record date which is designated as the ex-dividend date. This is to allow completion of all unfinished transactions before the record date.   Those stockholders not on record or do not own the stock before the ex-dividend date will not be entitled to dividend payment. Proceedings not completed at the ex-dividend date, the price of the stock is immediately reduced as dividend payment dilutes the value of the company and investors absorbs the diminution in value (â€Å"Investing†, 2007).Effect of declaration of stock dividendA stock dividend transfers the surplus covered by such dividend into permanent account thereby placing it beyond the power of the board of directors to withdraw from corporate use and to distribute to the stockholders.   Such a capitalization of surplus adds nothing to and takes nothing from the corporation.   The corporation merely transfers the surplus to capital account and issue shares of stock to represent the same.   Such shares may b e preferred as well as common stock.After a declaration of stock dividends, the stockholder receives no greater proportional interest in the assets of the corporation that he had before.   In this regard, it is identical in substance with a splitting of original share in which outstanding shares are exchanged for an increased number of new shares of proportionally less par value than the old, leaving the aggregate value of all his stock substantially the same.   Such an increase simply dilutes the shares as they existed before.   The declaration of stock dividend is advantageous to existing creditors of the corporation to the extent that corporate earnings are capitalized, unavailable for distribution to stockholders.   At the same time, it improves the cash position of the corporation with expansion projects or programs eliminating the necessity of borrowing and paying high interest rates.Stock dividends are not taxable as income because they represent merely an unrealized gain to the stockholders who receives nothing from the corporation that answers the definition of income under the revenue code (â€Å"Strengthening†).Illustration:A, B, C, D and E organized a stock corporation with an authorized capital stock of $400,000 divided into 4,000 shares with a par value of $100 per share.   Each subscribed to and paid for 400 shares.   Hence, the actual asset of the corporation at the beginning of the business was $200,000.After a few years of profitable business, the assets of the corporation amounted to $400,000 with no debts.   Instead of declaring cash dividends, it was agreed to increase the capital stock in the form of stock dividends with a total value of $40,000 which amount represents the actual increase of his share or interest in the business.   At the start of the year, each stockholder held 400 shares with a total value of $40,000 which is 1/5 of the total corporate capital of $200,000.   At the close of the year, after stock dividends are declared, each stockholder still holds 1/5 interest in the corporation with his 800 shares worth $80,000 in relation to the increased corporate capital of $400,000.   But the proportional interest of each share in the corporate assets is decreased because of the increase in the number of shares, from 1/2,000 to 1/4,000 (Kennon, 2007).Stock dividend from issue of additional sharesWhenever an increase is made in the capital account of a stock corporation, the increase is valid only when it represents additional shares issued for which the equivalent consideration is received by the corporation.   The increase may be the result of an issue of additional shares or the re-investment of retained earnings effected by the distribution of shares as stock dividend.Hence, a corporation with outstanding no par value shares originally issued at $5 per share cannot increase its capital account by transferring its surplus to its capital account without issuing additional shares for the amount transferred.   Under such method, stockholders who have already paid in full their no par value shares would in effect be made to pay additional amounts for the same shares to increase their value.   No par value shares of capital stock issued shall be deemed fully paid and non-assessable.   Once no par value shares have been issued at their issued price, their value can no longer be changed.   Accordingly, such stock dividend by a transfer of the surplus to capital with no shares to be issued cannot be validly made (De Leon, 1993).Stock dividend distinguished from cash dividendStock dividend does not involve any disbursement to the stockholders of accumulated earnings, while cash dividend involves disbursement of said earnings.   Corporate creditors may reach for stock dividends, being still part of corporate property, while cash dividend declared and paid becomes the absolute property of the stockholders and cannot be reached by the creditors.   While co rporate capital is increased by a stock dividend, cash dividend does not.   Except in the sense that capital stock constitute a liability, no debt from the corporation to the stockholders is created by the declaration of stock dividend.   The declaration of cash dividend creates an obligation to the stockholders who then hold such stock.It is important to note that a dividend payable in stock is not synonymous with, and is not always or necessarily, a stock dividend.   A dividend payable in stock may, under some circumstances, is a cash dividend, as where the dividend consists in treasury stocks or in stocks of another corporation.Stock splitsThe board of directors may approve a stock split when the market is too high or too low, as sometimes investors are forestalled from buying or keeping their stocks.   In stock split, the market per share is adjusted by the same ratio which results in additional shares being issued and the market price being reduced to a trading level to attract investors. Stock splits are generally carried out in two different ways.   In a par value stock, the original certificate is converted into a new certificate validating the original shares, plus the new shares issued.   In a no par value stock, the stockholder keeps his original certificate but receives additional certificates for the additional shares issued. In either case, the split merely changes the number of outstanding shares without affecting the stockholders’ equity or the capital stock (Heakal, 2003).Illustration:X Corporation has 100,000 outstanding shares of stock, with a par value of $10 per share.   The board of directors feels that a lower price is necessary to attract more investors, it authorized that the 100,000 shares be replaced by 500,000 with a par value of $2.   Thus each stockholder will receive 5 shares in exchange for each share owned.   This increase in the number of outstanding share is referred to as stock split (Little, 2007).O n the other hand, the reverse stock split, involves the reduction of the outstanding shares into a smaller number of shares and it is done when it is felt that a higher price for the shares will be advantageous to the corporation.   Thus, in the same example above, the 100,000 outstanding shares may be called in and replaced by 50,000 shares with a par value of $20 per share.   There is an increase in the par value of outstanding shares with a corresponding reduction in the number of shares issued.If a stock splits, it does not make it a better investment or enlarges the share in the company’s earnings nor does it affect materially short sellers. The aim of stock splits is to lower the trading price of a stock to a level viewed as popular to investors. It is comfortable to purchase stock at $10 per share than at $100 per share. Hence, when share prices have moved up considerably, publicly-listed companies declare stock split.ConclusionOne way or another, the stock itself may change, whether it is a stock split or a stock dividend.   It is crucial that an investor must be fully aware of the character of corporate actions to understand how a corporate decision affects his interest in the business. Corporate action may bring a change in the stock (â€Å"Corporate†).Whether it is cash dividend or stock dividend, dividends matter. It is the evidence of profitability.   It offers unvarying return on a less secure investment. Dividends grow as the company grows thus providing more economic value to the investors. Some investors profit from dividends.   Investors would purchase stocks right after dividend is declared and sell it after collecting the dividend, thus, receiving dividend at no cost.   However, this does not usually happen successfully as the dividend payout reflects immediately the stock price.It is important that an investor understands stock splits.   Stock splits do not change the equity of the company or the net assets of t he business.   Board of directors approves stock splits to maintain high level of trading activity of its stock. Sometimes a reverse stock split is decided to discourage small investors and maintain its status because a relatively low stock price is considered highly speculative and often trades over the counter.

Astr hw4 Essay Example | Topics and Well Written Essays - 500 words - 1

Astr hw4 - Essay Example With the activities that occur in the volcano that is the first theory, the earth experienced the cooling that made the elements cool. The elements are then exposed to the atmosphere creating a combination of droplets. With the theory water is known to be the found on the earth’s surface. The theory does not fully explain the source since seventy percent of the water sources does not originate from the earth’s surface. In the second theory, water is meant to be formed from the comets and the earth grazing. This means that the water exists in form of the water molecules on the earth’s surface. At the same time, there is a difference between water at the sea and the one on the earth’s surface (Wiegandt, 2008). 3. The snowball theory gives a brief discussion on the coldest part of the earth. The theory suggests that the earth is all surrounded by ice. There is evidence supporting the theory by the fact that Sturtian and Marinoan have isotopes of carbon that is found at the sea water. There are also a number of marine deposits at the bark of the oceans. The irons and oxides formed enable the anoxia to spread into the oceans. There are also proofs that do not support the theory because the deposits don’t have same ages not even the age sets. The Sturtian has ripples while its thickness and characters are found at the base. 4. Europa the moon has liquid that is in form of water and can primitively save living things. The liquid has got characters that will enable the human life by containing molecules that are versatile. The liquid also dissolve the nutrients that are used in the digestion and waste removal by the living creatures. Europa also has the ability to tilt the surface enabling it to have life support. 5. With the origin of life, life is reported to start from the sea because of the structures like carbonate that are found at the vents of hydrothermal. With the formation of hydrogen sulphide, hot

The Relationship between Revenue Management and Pricing Strategies in Research Paper

The Relationship between Revenue Management and Pricing Strategies in Airline Industries - Research Paper Example This essay discusses that Revenue Management (RM) falls under the dynamic pricing models. There are several terms used to describe revenue management. The most common on is yield management, or a combination of several terms such as Price and Revenue Management (PRM), or Perishable asset revenue management (PARM). It normally describes a pricing method where the cost of buying the product or service changes over time to take advantage of the variation in consumer willingness to pay a certain price for the product. Depending on the industry, the prices either increase or decrease with time. In the electronics market for instance, the price of a product is normally higher during the launch compared to the prices charged after some time. In the airline industry, prices typically increase towards the scheduled time of the flight. Pricing strategy refers to the framework that a producer uses to set the prices for a particular product. Pricing strategy is very crucial because it affects th e potential for success of a product. The most basic pricing model is unit cost pricing model, which assigns the price of an item based on the cost of production and the expected margin. Pricing is not normally a straightforward affair because forces of supply and demand affect it. The price of an item tends to be closer to what the market is willing to pay for than the simple arithmetic of cost of production and margin. Dynamic pricing models tend to seek to maximize revenue based on the prevailing demand. In some cases, dynamic pricing actually disregards the cost of production. ... In some cases, dynamic pricing actually disregards the cost of production. In the case of the airline industry, unit cost is an unstable way of organizing pricing because of the large upfront cost Revenue management is the most dominant pricing model in the airline industry because of its potential to boost profitability in that particular industry. It came about after the liberalization of the industry in the late seventies. Airline executives found themselves in a tight spot because of increasing competition in the fledgling industry. They sought to find ways of increasing the profitability of the airlines in the industry based on their existing carrying capacity. However, the airline industry is not the only industry that uses yield management. The hotel industry also uses it and other industries such as printing firms, bus companies, car hire firms and private lodges also use it to maximize revenue against a backdrop of fixed capacity and highly perishable products (Koenig & Meis sner 2011). The goal of this paper is to investigate the relationship between revenue management and pricing within the airline industry. In the first part, the discussion will seek to examine the important issues surrounding revenue management, followed by an analysis of how those factors affect pricing strategy in the second part. Literature Review The Concept of Revenue Management There is a wide variety of terms, concepts, and approaches to the study of revenue management. Some scholars use all the related terms interchangeable stressing the greater meaning of time sensitive pricing. Older researchers used yield management and revenue management to mean the same thing (Boella 2000; Bieger & Agosti 2005). Recent

Analyse using stat Assignment Example | Topics and Well Written Essays - 1500 words

Analyse using stat - Assignment Example Compare and contrast the findings from the histograms and from the tests with level and logarithmic specifications. H0: sample is not distributed normally H1: sample is distributed normally Decision: Probability value is less than 0.05significance level. Therefore we reject the null hypothesis and accept the alternative hypothesis. i.e. price variable is normally distributed Probability value is less than 0.05significance level. Therefore reject the null hypothesis and accept the alternative hypothesis. i.e. log price variable is also normally distributed Thus, the results of histogram and Kolmogorov-Smirnov test are consistent. Variable Description Combined K-S Value 1. dist Weighted distance to 5 employment centers 0.000 2. ldist Logarithm of weighted distance to 5 employment centers 0.016 H0: sample is not distributed normally H1: sample is distributed normally Decision: Probability value is less than 0.05significance level. Therefore reject the null hypothesis and accept the alte rnative hypothesis. i.e. dist variable is normally distributed Probability value is less than 0.05significance level. Therefore reject the null hypothesis and accept the alternative hypothesis. i.e. log-dist variable is also normally distributed Histogram showed the distribution of dist variable as skewed to the left. However Kolmogorov-Smirnov test yields a normal distribution. ... Mean value of rooms in the given sample is 6.28. Accordingly there are 278 houses with number of rooms bellow the average (sample A) and 228 houses with number of rooms above the average (sample B). Hence the total observations in two samples are different. Therefore we have to conduct unpaired two sample t-test. Mean Difference -8918.208 t-statistics -12.3611 P-value H0: diff=0 0.0000 H1: diff 0 1.0000 Decision: Probability value of H0 is less than 0.05 significant level. Therefore reject H0 which states there is no statistically significant difference between the mean price of houses having rooms less than average and more than average. (ii) houses below and above the average value for nox; Average nox value of the given data set is 5.549. There are 292 observations in the above average category while there are 214 observations in the below average category. Therefore unpaired, two-sample t-test with equal variances can be used. Mean Difference 6199.578 t-statistics 7.9261 P-value H0: diff=0 0.0000 H1: diff 0 0.0000 Decision: Probability value of H0 is less than 0.05 significant level. Therefore we reject the null hypothesis which states mean price of houses which are situated in lower nitrous oxide levels are not statistically different from those houses situated in higher nitrous oxide areas. (iii) Houses below and above the average value for crime. Average number of crimes committed per capita is 3.611in the given data set. Accordingly there are 128 and 378 numbers of observations in the above and below average categories respectively. Therefore, unpaired, two-sample t-test with equal variances can be used. Mean Difference 8471.173 t-statistics 9.8062 P-value H0:

Issues and challenges faced by Starbucks corporation

Issues and challenges faced by Starbucks corporation In 1971, four people fill with passion of coffee open their first coffee retail store-Starbucks in Seattle, Washington. By 1981, the company had 4 retail stores, which were sale whole bean coffee. Howard Schultz, who is the chairman and CEO of Starbucks, was hired and join the marketing team in 1982. At that time, Schultz wanted to create an idea that Starbucks become Americans third place to go, which is a place people can enjoy, relax themselves and not far away from work or home. Hence, Schultz suggested company set up an espresso bar in the retail, hence, the idea was allow to test in the sixth store in 1983. From then on, the development of company increased significantly. Few years later, Schultz bought Starbuck. After Schultz took over the company, Starbucks turn into high-speed expansion stage. By 1992, Starbucks already had 140 stores, which serviced coffee, beverage, cake and some stores even sold jazz CDs (Tuck business school, 2002). Now, Starbucks is worldwide company wi th 17,800 stores in 49 countries including more than 10000 stores in US, 1000 in Canada and 800 in UK (google map, 2010) Methods Data collection methods Methodology As members of Group 8 (ASB 4431 Organisations People Assignment Groups 2010-11) perusing a Masters degree in Bangor University, have done a report on Starbucks critically evaluating the organisations structure, strategy, culture, and management/leadership style. Data collection method The research strategy that the study utilized is the explanatory or Analytical research approach. As this study is based on our analysis of Starbucks, structure, culture, leadership and other issues would be explored; questions will need answering thereby a need to understand the phenomena. The use of a Qualitative data analysis will be employed since the data we use will all be non-numeric data. Saunders et al, (2009) Source of data Secondary data was obtained from already existing data mainly from Starbucks website, other Internet sources, journals and textbooks. Issues and challenges There are three issues considered in this report, first is the resource constrains, most of the articles we found are all available online, however not all of them are free to assess, especially for those authoritative articles that always need to pay to assess, for example, the book named Pour Your Heart Into It: How Starbucks Built a Company One Cup at a Time, which written by Starbucks CEO Howard Schultz is a good reference for our report, however, we can not assess it without buying it. Second issues is the lack of critical review for Starbucks, most paper we found was regard Starbucks as the positive example in explaining organisational behaviour, there is no doubt that Starbucks doing a great job in rewarding their employees, however it brings challenges to be critical in our report. The final issues is the ethical and legal issues, as all the article we found can published publicly, and we all using appropriate reference, as a result, there is no ethical and legal issues to co nsider for our report. Analysis In this study, qualitative data analysis has been conducted to evaluate the organisational feature of Starbucks Corporation rather than using quantitative analysis such as statistical analysis.   In order to gather the data, remote data collection, such as Internet search and literature review about has been mainly conducted.   The purpose of this study is to critically evaluate the organisation structure, strategy, culture and management or leadership applications of Starbucks Corporation, therefore all information are gathered by internet search and literature review.   In order to analyse gathered data to evaluate feature of Starbucks Corporation, observed data analysis method has been practiced.   Comprehensive search for several facts related to structure, strategy, culture and management/leadership applications of Starbucks, has been executed by using Internet search and literature review.   Afterwards, critical evaluation has been conducted to link all information or ganically.   Finally, all analysis results were integrated and final conclusion has been created. Results Overview of corporate strategy business goals Mission statement A mission statement is a brief description of an organisations fundamental purpose, which is steered in outlining the existence of the organisation; this is to enable members of the organisation to be aware of the companys purpose as well as the general public. (David, 2009) A mission statement should be a short and brief declaration of goals and objectives. The primary goal of any business is to maximize stakeholder worth, which includes shareholders of the business, business employees and clients or customers who purchase business goods and services. (David, 2009; Abell, 1980) Diverse works have outlined what should be covered in a mission statement (Abell, 1980; Pearce and David, 1987). It is not the content of the mission statement that really matters but rather the process used to prepare the document and the principles employed to fulfil the prepared document (Mullane, 2002). In the mission statement of Starbucks which talks about inspiring and nurturing the human spirit one person, one cup and one neighbourhood with principles to live out every day as an organisation to fulfil their mission statement. The principles below are what Starbucks employ in achieving their mission statement; Our Coffee; It has always been, and will always be, about quality. Were passionate about ethically sourcing the finest coffee beans, roasting them with great care, and improving the lives of people who grow them. We care deeply about all of this; our work is never done. Our Partners; Were called partners, because its not just a job, its our passion. Together, we embrace diversity to create a place where each of us can be ourselves. We always treat each other with respect and dignity. And we hold each other to that standard. Our Customers; When we are fully engaged, we connect with, laugh with, and uplift the lives of our customers even if just for a few moments. Sure, it starts with the promise of a perfectly made beverage, but our work goes far beyond that. Its really about human connection. Our Stores; When our customers feel this sense of belonging, our stores become a haven, a break from the worries outside, a place where you can meet with friends. Its about enjoyment at the speed of life sometimes slow and savored, sometimes faster. Always full of humanity. Our Neighbourhood; Every store is part of a community, and we take our responsibility to be good neighbours seriously. We want to be invited in wherever we do business. We can be a force for positive action bringing together our partners, customers, and the community to contribute every day. Now we see that our responsibility and our potential for good is even larger. The world is looking to Starbucks to set the new standard, yet again. We will lead. Our Shareholders; We know that as we deliver in each of these areas, we enjoy the kind of success that rewards our shareholders. We are fully accountable to get each of these elements right so that Starbucks and everyone it touches can endure and thrive. Environmental Mission Statement; Starbucks is committed to a role of environmental leadership in all facets of our business Our Starbucks Mission Statement; Our mission: to inspire and nurture the human spirit one person, one cup and one neighbourhood at a time. (Starbucks: Our Mission Statements) Business strategy To understand and analyse corporate strategy and business goal of Starbucks, we firstly need to have a clue of what corporate strategy is. By Johnson and Scholes, corporate strategy is defined as: Strategy is the direction and scope of an organization over the long-term: which achieves advantage for the organization through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfil stakeholder expectations. In the case of Starbucks, the organization is employing Porters Differentiation Focus Strategy. This strategy provides a product or service to a specific market niche and differentiates from competition in specific areas. (Rebecca Larson, 2009) Starbucks does not exist as a low-cost company to the competitors. It focuses on the specialized selections, provides specially tailored lines of coffee and tea related products for a premium price. Starbucks does not promote itself by using traditional means; they generally concentrate on high-level marketing and branding by word-of-mouth, as well as alliances and partnerships. They try not to promote the company, however automatically they are promoted by providing customer support and also their excellent works in which up to now has becoming a successful strategy. By the companys hard work, focusing on details and ethical decision-making, customers have experienced a wonderful service, as a result, the company gradually built up its reputation and becoming one of the most valuable global brands.(Theodore,2002,p.62) It is incredible that Starbuckss achievement with very few commercials, ads or any other kind of marketing means. Starbucks could not become a coffee-related products giant retailer and remain long-term success only by selling coffee on its own. One important part of the companys strategy is strategic alliances, which could also be called joint venture approach. This strategy leads the globalization of the company with higher recognition and reputation of the brand also exposing the brand to other potential customers. The variety of companys products is relatively being expanded demographically and geographically. For example, in order to advance social and economic equality, the company allied with NAACP, the company donated and together with NAACP organized events for social equality has becoming a great success. It showed that Starbucks is no longer a simple business organization, it also exists as a charity and that brings the company higher reputation. They also partnered with Barnes and Noble bookstores to be the in-house coffee shop in 1993, (Isidro, 2004) co-produce coffee-related drinks such as Starbucks Frappuccino with PepsiCo from 1996, formed alliances with ice-cream manufactures and hotel chains to offer Starbucks brand and flavored ice-creams and Starbucks coffees within the hotels (Rebecca Larson, 2009). Explanation of organisational structure Board Committee organization structure of Starbucks The structure of Starbucks Company is shown in Figure 1.   As mentioned by Starbucks Corporation Fiscal Annual Report (2009), as group member of the Board of Directors, Howard Schultz was appointed to Companys chairman and chief executive. Barbara Bass, William W. Bradley, Mellody Hobson, Olden Lee, James G. Shennan, Javier G. Teruel, Myron E. Ullman and Graig E. Weatherup were appointed to director individually. Kevin R. Johnson and Sheryl Sandberg were appointed to Chief Operating Officer individually. Additional, Starbuck Corporation consisted of 38 members of Senior Officers. Board Committees are composed of Audit and Compliance Committee, Corporation Compensation and Management Development Committee, Nominating and Corporate Governance Committee. Composition Job Design Board of Director The Board of Director inclusive twelve members, independence of each member are requested to meet of the NASDAQ Stock Market efficiently. When Board getting direction about recommendation of the Nominating and Corporate Governance Committee, the Board of Directors will appoint a new member in case of there is a vacancy occupation occur on the Board. The Board of Directors of Starbucks Company are responsible for monitoring company powers and ensuring that the company business meet goals which is requested by shareholders. The Board have responsibility to select nominees for the Board of Directors who have appropriate qualifications and diversity of backgrounds experiences. And also, it is in charge of appointing chief operating officer.   (Starbucks Corporation Fiscal Annual Report, 2009) Composition Job Design Audit and Compliance Committee The Audit and Compliance Committee are in charge of financial reporting and internal, external audit processes. The Committee assists the Board of Director reviewing financial issue. The Committee was appointed from the Board of Directors. The Committee have three members at least and all of them shall match The NASDAQ Stock Market requirements independence. The Committee be recommended by the Corporate Governance Committee, and finally appointed by the Board of Director. The Committee has authority to investigate any financial activity and free access to members of management. It is retain independent legal counsel. All employees have responsibility to assisting members of the Committee investigation (Starbucks Corporation Audit And Compliance Committee Charter, 2010) Composition Job Design Corporation Compensation and Management Development Committee The Compensation and Management Development Committee has responsible for working with management to establish appropriate compensation practices for the Company. There are deciding the benefits and compensations for senior officers of the Company. The Committee consists of three members at lease, which one member be required come from Board of Director. The members of Committee will be pointed from Board as well. The Committee conducts an annual review of companys compensation for Senior Officer instead of president and chairman. Together with the Chairman of the Corporate Governance Committee, the Chair of the Committee shall annually review the performance of the president and chief operating officer and meet with them to share the findings of such review when after discussing with the member of independent directors of the Board (Starbucks Corporation Compensation and Management Development Committee Charter, 2010). Composition Job Design Corporation Nominating and Corporate Governance Committee The Corporate Nominating and Corporate Governance Committee is responsible for developing and implementing policies and procedures of the Board of Directors. They are intended to constitute and organize appropriately to meet its obligations to Starbucks Company and its shareholders. The Committee will be comprised of at least three members, all of whom have to meet the independence requirements of the NASDAQ Stock Market, LLC as well as. Under Board of Directors direction, members of the Committee and a Chair of the Committee shall be appointed. The Board of Directors shall appoint a new member or members, which is a vacancy on the Committee. The Committee have professional capability to assist Board identifying candidates personality. Reviewing the Companys Corporate Governance Principles and Practices annually according to changing shareholders interests and suggesting appropriate modifications to the Board of Directors. And evaluate the overall effectiveness of the organization of the Board Committees performance. Evaluation of the organisation structure of Starbucks According to SeaZone (2009), organisation structure of Starbucks Company is Matrix structure.  Ã‚  This is one type of organisation structures that is presented by Gareth Morgan.   The organisation structure is quite important to manage organisation, it plays important role for organisations activities.  Ã‚  Moreover, the organisation structure is related to its business purpose and aims. (Mullins, 2005)   Matrix structure is the organisation structure that has both of vertical structure and strong horizontal structure.   It requires employees to have two reporting relationships concurrently.  Ã‚  In this structure, employees work in provisional group constituted by employees from different function.  Ã‚  There are two lines of authority in this structure and employees have two bosses in their team namely boss for their project and boss for their function. (Mullins, 2005) Specific future of matrix structure Matrix structure provides organisation flexibility, and contributes to keep security and control of project information.  Ã‚  Moreover, organisation can have a possibility to develop stuff well.  Ã‚  (Mullins, 2005)  Ã‚  However, there are some disadvantages of matrix structure.  Ã‚  At first, there is limitation of number of employees who report to the project manager directly, because most of all stuffs are assigned from department managers.  Ã‚  This situation may lead uncertainty in organisation and employees may be unwilling to accept that their situation is changed constantly and willing that they establish in their functional group.  Ã‚  Next, matrix structure has a possibility that organisation make more complex.  Ã‚  Thirdly, extension of the authority of manager to the stuff coming from other sections can be a course of problem in organisation.  Ã‚  Finally, it is expected that functional group may not attention to their normal tasks and role.  (Mullins, 2 005)   What is required in matrix structure? Matrix structure strongly deeply rely on teamwork spirits, it demand culture of co-operation.  Ã‚  In this structure, managers are required high level of behavioural and management ability and organisation needs culture of collaboration.  Ã‚  It is necessary to educate employees to support other stuffs and to create the teamwork spirits.  Ã‚  Moreover, stuffs must have a special competence to solve the conflict in their team in the matrix-structured organisation.  Ã‚   How organisation structure works in Starbucks There are some disadvantages in matrix structure as mentioned before, however, Starbucks, especially Howard Schultz, CEO of Starbucks Company, may have understood these problems.   Therefore he gave special statement to employees when he expanded Starbucks structure to reinforce their internal and external communication in 2008.  Ã‚  He has explained the difficulties of doing business in situation in those days and strongly suggested change of not only structure but also employees in order to enhancing the customer experience.  Ã‚  In that message, he also stated that structure of Starbucks Company faced the revolutionary  change, however it was necessary to improve customers and stuffs experiences and recapture the vigour and benefits in the company.  Ã‚  As he explained in that message, he recognised or realised that this structural modification was hard for some stuffs owing to increase and complex of their tasks, however he also described that he made this decision unde rstanding these kinds of issues.  Ã‚  He explained that he had decided this numerous change of structure with speculation and he respected for stuffs concerned.   (Starbucks, 2008) Analysis of organisational culture With the development of economy, the competitions between companies not only aim at the product they offered but also their internal organisation culture. Deal and Kennedy researched organization culture for 15 years and they found that organisation with weak culture always beaten by organisation with strong culture (1999). Edgar Schein who is generally consider the father of organization culture defined that organization is a pattern of basic assumptions invented, discovered, or developed by a given group as it learns to cope with its problems of external adaptation and internal integration that has worked well enough to be considered valid and, therefore, to be taught to new members as the correct way to perceive, think, and feel in relation to those problem (1985). Organization cultures pay attentions to individuals in a organization that it establish an appropriate platform make individual join in the organization quickly and help people work together toward the same organizati on goals. In addition, organization culture help employee improve their personal ability and knowledge to maximum. In the meantime, organisation culture forms the external performance and reputation, which are important to decision making during purchasing Starbucks is one of the successful chain coffee stores. It is because it has a unique organisation culture. In order to understand internal culture in Starbucks, we will use the Great Holsfedes cultural framework. Holsfedes used different five aspects to evaluate culture, which are power distance, individualism, masculinity, uncertainty avoidance, long term orientation (Holsfedes, 1991). . Base on this model, it can reveal that Starbucks have long power distance, because every employee in Starbucks have the same basic rights no special treatment. In addition, for the gander issue, Starbucks view all the employees the same regardless of their gender, thus, Starbucks has high masculinity and femininity. And it also has low uncertainty avoidance; due to it have a vast number of brunch stores abroad, Starbucks has to take huge risk for that. In terms of collectivistic, Starbucks belongs to high collectivistic, although it have branch store everywhere, but there is a core team to conduct the whole company. Starbuck still pay attention to environment and other charity event, so Starbucks is long term oriented. The strong power of Starbucks organisation culture appeals a great number of people, including both consumer and potential employee. Great quality of coffee and well service make Starbucks become a global company with hundreds of chain stores. Its organisation present a great service, consumer always be expected to be confronted with enthusiastic well trained employees with a great number of coffee knowledge and their service always base on consumers need. Starbuck also appeal people because of its values. As we talked above, Starbucks support many organisations in a long term, such as Conservation International, The Earthwatch Institute, Save the Children, Mercy Corps, the African Wildlife Foundation, and Planet Green. Starbucks convey a message that corporations need to concern about the society and environment around them. And then, Starbucks establish diversity internal working environment in order to satisfy the entire consumer. The strong organisational culture in Starbucks also embodied in the way they treat their employees. Starbucks hold a job fairs every year in different places, and there are also some guidelines for manager to interview the candidates and test whether they have full knowledge about the companys product, and who are adaptable, dependable and passionate in interacting with customers. Starbucks also need to deal with hundred of thousands of online applications using software developed by Taleo, this software help to screen out the candidates by answer the basic information and skills-based questions (Weber G. 2005). After recruiting people, Starbucks will also offer 24 hours of trainings to their employees, and learn how to use espresso machines, how to interact with the customers, the process and production of coffee beans. During the training, employees also need to understand the companys mission statement, and bring company culture to their customers (Cesario Minor, Jr. 2009), Starbu cks spends more on recruitment and development than on advertising which in 2004 is $68.3 million (Weber. G.2005), the mangers and assistance mangers also have trainings in computer, leadership and coffee knowledge. As Starbucks offers both product and services, people become an important factor in maintaining the quality, Starbucks treat their employees as partners by connecting their contribution to companys market value, and give the opportunity to share the success in the company, their employees are highly involved in companys activity by reporting their concerns to companys Mission review team, each employee will receive a comment card when they newly hired, and they can write down some suggestion, advice or disagreement in management decisions, the managers will response and sign for all the comment cards within two weeks, and their CEO Howard Schultz also review all the comments every month(Cesario Minor, Jr. 2009), the high involvement also increase the level of responsibil ity to the company. Starbucks also well known in retaining and rewarding their employees by good salary, stock options and health cares, according to Thompson Strickland (1999), the store employees were paid $6 to $8 per hour that is above the average minimum wages, their employees can also paying the initial years price and receiving the current years price by cashing in one-fifth of the shares granted each succeeding year. Part-time staffs is the major workforce in Starbucks, and they receive the same health insurance as full-time employees, the insurance including preventive care, crisis counselling, dental care, eye care, mental health care and treatment for chemical dependency. Howard Schultz also been invited to white house and meet with president Clinton to brief the Starbucks health care programme in 1994. Starbucks have a relative low turnover rage compare with the other companies, the turnover rage for Starbucks was about 65% compare with 150% to 400% for other retailers and fast-food chains, and the turnover rate for store manager was much lower, which is 25% compared with 50% in other retailers. Starbuckss organisation culture, especially the strong spiritual culture appealing lots potential employees, employees not only attracted by the salary, stock plans and health care, they would like to work for Starbucks because the trust, power and autonomy given by the organisation, Starbucks promotion for fair trade and environmental contributions also bring positive image and reputations. Critical evaluation of Management Leadership practices CE for business goal CE for organisational structure Critical evaluation of Management and Leadership practices As we have described previously, the organisation structure of Starbucks is the matrix structure. This structure influence management style and leadership style, too. The matrix structure strongly relies on the teamwork and relationship between employees and managerial stuffs. In the matrix structure, a line of command and report is complicating and the line is changed frequently. Therefore, employees are required more complex work rather than in other organisation structures. Moreover, organisation must provide employees good education system to create teamwork spirits in organisation. Additionally, in order to lead employees in the matrix structure, strong leadership and well-organised management style is necessary. (Mullins, 2005) It would appear that Starbucks Company might be able to overcome with these problems coming from disadvantage of the matrix structure and achieve to create good working relationship atmosphere. Therefore, they have been awarded a prize of 100 Best Compan ies to Work For by Fortune during 1998 to 2009, except 2001. (Starbucks 2010) CE for organisational culture There are two critical issues to discuss in Starbucks culture, firstly, David A. Pace, who has been an Executive Vice President of Partner Resources of Starbucks Corporation since 2002 said that, even company were to hit hard times, the strategy of above-average investment in training and rewarding employees isnt going to change (Weber G. 2005). Starbucks now is an successful company, and Paces announcement really help to build a good reputation on taking social responsibilities, however, once the company suffer from the crisis, can they still keep the promise, if they can, it helps to gain more support from their employee, but if they cant, the employees will feel disappoint and may break down the reputation. Secondly according to Weber G. (2005), Howard Schultz, the CEO of Starbucks on October told Business week Online that, for the following two years, Starbucks would spend more on employee health care costs than it does on coffee. What Schulze said may have both impacts on their employees and customers. For their employees, they will feel appreciate and proud to work for Starbucks, and it may also attract more people desired to work for Starbucks. For Starbucks customers, some may feel Starbucks is a responsible and ethical company and feel comfortable to buy coffee from Starbucks. However, spending less on coffee may misleading other customers that the company will pay more attention on employee health care rather than coffee, customers may feels they are not regarded. Conclusions recommendations Conclusion Business goal Organisational structure As previously mentioned, Starbucks adopts matrix structure for their organisation structure. (SeaZone, 2009)    Matrix structure has a complex aspect owning to the characteristics of that structure, namely it has both of vertical structure and strong horizontal structure.   Matrix structure provides organisation flexibility, and contributes to keep security and control of project information.   Moreover, organisation can have a possibility to develop stuff well. (Mullins, 2005)   On the other hand, matrix structure has disadvantages, for example, it has limitation of number of employee who report to the project manager directly, moreover, matrix structure has a possibility that organisation make more complex. (Mullins, 2005)   However, Starbucks seems to have good relationship and well-organised education system for managerial stuffs to overcome with these disadvantage and they seems to convert these disadvantages to advantages of matrix structure.   Moreover, Howard Schu ltz, CEO of Starbucks, has strong leadership and he is trying to encourage stuffs in order to achieve their business well. (Starbucks, 2008)   In reality, the fact that Starbucks have been awarded a prize of 100 Best Companies to Work For by Fortune during 1998 to 2009, except 2001 gives evidence that many stuffs who are working for Starbucks satisfy to work in this circumstances. (Starbucks 2010) Organisational culture To conclusion, the Comprehensive and thoughtful organisation culture is Starbucks core competitive strategy, which is not only appeal potential employees but also the customers. Almost all the customers satisfied Starbucks services because they are treated very well. At the same time, they are faced with passionate employees and high quality coffee. For employees, they have well trained before they participate in the work formally, which allow them to introduce customer professionally. In addition, employees are satisfied with the wage and even part-time employees have the insurance as well. Feedback makes Starbucks culture special then their company. Their employees have the rights to write down their disagreement or suggestion to company. Recommendations Business goal Organisational structure(included in conclusion) Organisational culture As we know, Starbucks turnover rate is low, because their rewarding system attracts a great number of employees. We recommend company could change its rewarding system to performance base system, which means employees rewarding base on their personal working performance (e.g. set up best employee of the month/year). In terms of health care of employees in Starbucks, it is excellent to treat their employees in such a good way. However, consumers need an image that Starbucks devote itself to improve the quality of coffee and develop the environment in stores. Hence, we recommend Starbucks could increase spending on retail store decoration and offering more kinds of food.

Satanism and Corrupt Christianity :: essays research papers

Spiritual Alchemy & The Bible True Satanism is based upon the ancient religions that predated Judaism, Christianity, and Islam by hundreds to thousands of years. The traditional colors of black and red used in Satanism, date all the way back to Ancient Egypt and are symbolic of spiritual transformation. The ancient religions were based upon completing our Creator Satan's work: that of transforming the human soul into that of a god and achieving god-like power and immortality. Satan's Kingdom was stolen from him. The Judeo/Christian Bible is a corruption of stolen material that has been used to spiritually enslave humanity. All of the legends of the Gods are allegories. The Vatican and its cohorts have gained wealth, power, and control by forcing people to believe these allegories are literal places and characters. The completion of the work, what is known in alchemy as the "Magnum Opus" has its foundation in the kundalini. The kundalini serpent lies coiled at the base of the spine. Through meditation, the fiery serpent ascends. This is what is known as "Raising the Devil." There are 33 vertebrae in the in the human spinal column. We often hear the term "33rd degree Mason" or that the fictitious nazarene lived 33 years. The kundalini serpent ascends the 33 vertebrae of the spine. The seven chakras are also very important in the work. When the kundalini ascends, it must pierce through each of the seven chakras. This is why there is so much emphasis on the number seven in many ancient spiritual texts and also what has been corrupted in the Judeo/Christian Bible. Christian leaders mislead their followers through deceiving them into believing the stolen legends in the bible are real. Through this deception, the Vatican and Christian churches have obtained unbelievable wealth and power. This power is not only in the material world, but in the spiritual as well. All spiritual knowledge was systematically removed with the Inquisition. Those at the top are adept at black magick and have advanced to spiritual power, while the rest of humanity suffers under their control. Many ancient paintings we are told are of the nazarene, "virgin mary" and related are really of the Original Gods, such as Marduk (Amon Ra) and Astaroth. The Magnum Opus begins ideally in the spring when the Sun is in Aries, thus the man standing with the lamb. The halo is the ascended kundalini and the vibrant aura of witchpower.

Key Players: Decision Making in Terrorist Incidents

Decision making is defined as â€Å"simply the act of choosing among available alternatives about which uncertainty exists† (Mingst, p. 457). However, decision making is not an easy process especially with the participiation of individuals within the government.   Individual elites or the â€Å"key players'† decisions and actions greatly affect the course of events as well as the situation of the country when one of various factors are present and one of which is during time of crisis like terrorist incidents (Mingst, p. 133).The decisions made by these elite individuals are influence by politics within the government which eventually affect their actions (Mingst p. 460). The effects of the choices that they make are not always advantageous as sometimes it have its adverse consequences in the situation of the ccountry. A good example to exemplified such idea is the aftermath of President George W. Bush's decision to attack Iraq. Three imporatnt areas were badly affect ed by it, the country's domestic cohesion, the international standing of the United States of America and the insecurity felt by those immediately affected by the decision.The domestic cohesion of the United States of America has been greatly affected by Pres. Bush's decision . Many citizens especially the ones leaning towards the democratic side did not agree with his reasons of doing such in the name of U.S. battle against the war on terror. Moreover, the domestic consensus became much harder to achieve with the issue of personal gain.Opening   Iraq's oil economy would greatly benefit the Bush family, being a member of one of the largest American oil company the Washington's Carlyle Group (Chenoy, p. 23 ). A clear   indication of which is the drop in the approval ratings of the president after his speech that ordered the deployment of more troops in Iraq. Sixty percent of those who were surveyed expressed their disapproval in Pres. Bush's performance (Iraq drives Bush's rating to new low, 2006).Another area that is adversely afftected is the international standing of the country. Many states as well as international organizations are not in favor of the U.S. president's course of action. This immediately put the country in a bad light especially its leader because the non-approval of these states emphasizes the illegitimacy of this action. A good example is the European Union (EU) that has been the country's partner in economic activities but they didn't support Bush's action against Iraq. EU believes that America's unilateral strategy would not benefit their multi-polar interest (Chenoy, p. 25 ).Lastly, is the effects of this decision to the citizens of Iraq as well as to the U.S. soldiers.  Ã‚   The war has left numerous casualties in terms of death tolls, damage to property, as well as the over all security of the country (Chenoy, p. 27). According to the Iraq Body Count Project (IBC), there were 947 civilian deaths reported between 1st and 27th of February this year (Enforced security: solution or stopgap?).The weight of an elite individual's decisions and actions is greatly felt in crisis situation like terrorist incidents. The choices they make could have numerous effects in the country of their leadership and to others as well. Unfortunately, the politically driven decision of these â€Å"key players† could have adverse consequences in the lives of many people.Works CitedChenoy, Anuradha. Demystifying Terrorism : a War Against Terror & The Terror Of War, US   Ã‚  Ã‚   Hegemony & Militarism. ARENA, 1997.â€Å"Enforced security: solution or stopgap?†. 28 February 2008. Iraq Body Count. 12 May 2008..â€Å"Iraq drives Bush's ratings to a new low†. 14 March 2006. CNN. 12 May 2008.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   ;http://edition.cnn.com/2006/POLITICS/03/13/bush.poll/;.Mingst, Karen. Essentials of International Relations. Norton, 2001.

Al Maqasid Al Sharia

CIFP – SH1002 SHARI’AH ASPECTS IN BUSINESS AND FINANCE AL-MAQASID AL-SHARI’AH THE OBJECTIVES OF ISLAMIC LAW DEFINITION OF MAQASID AL SHARI ’AH The word â€Å"Maqsid† (plural: Maqasid ) reflects a meaning of purpose, objective, principle, intent, goal. Maqasid comprise the wisdom and knowledge behind rulings, the objectives of particular actions. As for the term â€Å" Shari’ah †, some scholars define the word as following strictly the injunctions of Allah or the way of Islam ( din ). Hence, Maqasid al-Shari’ah represents â€Å"the objectives and the rationale of the Shari’ah.It encompasses all disciplines, laws, regulations, policies, instructions, obligations, principles, beliefs, devotion and actions designed to protect the interest of human beings in all segments and aspects of life. Various scholars have tried to elucidate the purposes and the objectives of Shari’ah upon which it is established. Among these th e exceptional individuals are the Malikite Abu Ishaqal-Shatibi, the Shafite al-‘Izz ibn ‘Abd al-Salam, and the Hanbalite Ibn Qayyim al Jawziyyah.According to Ibn Qayyim al-Jawziyyah, Shari‘ah aims at safeguarding people’s interest in this world and the Hereafter. Referring to the maqasid al-Shari‘ah , al-Ghazali said: â€Å"The objective of the Shari‘ah is to promote the welfare of human beings, which lies in safeguarding their faith, their life, their intellect, their posterity, and their wealth. Whatever ensures the safeguard of these five fundamentals serves public interest and is desirable†. Al-Shatibi approves al-Ghazali’s list and sequence,hereby indicating that they are the most preferable in terms of their harmony with essence of Shari’ah .Finally, Ibn Ashur provides a broader definition stating that: Both its general rules and specific proofs indicate that the all-purpose principle(maqsad ‘amm) of Islamic legis lation is to preserve the social order of the community and insure its healthy progress by promoting the well-being and righteousness ( salah ) of that which prevails in it, namely, the human species. The well-being and virtue of human beings consist of the soundness of their intellect, the righteousness of their deeds as well as the goodness of the things of the world where they live that are put at their disposal.Maqasid al-Shari’ah : An Overview Maqasid al-Shari’ah calls for establishment of justice, elimination of unfairness and alleviation of privation. It endorses relationship and mutual support within the family and community in general. This has for outcome a preservation of public interest (maslahah) as the most important objective of the Shari’ah. Shari’ah recognizes three areas which constitute well- being, namely, endorsing benefits (maslahah ) to people, educating individual and establishing justice.One of the objectives and the underlying pr inciple of the Shari’ah is endorsing benefits (maslahah) to the people. It is associated with people livelihood in this world and the Hereafter Qur’anic verse: â€Å"†¦ and establish regular prayer: for prayer restrains from shameful and unjust deeds; and remembrance of Allah is the greatest (thing In life) without doubt. and Allah knows the(Deeds) that ye do. † ( Al-Qur’an , Al-Ankabut: 45). Every verdict in Shari’ah appears with reasoning and with a purpose, which is to shelter and protect public interests (maslahah ) in all aspects and segments of life.It should also be observed that in specific occasions emergence of arguments between endorsement of benefit and avoidance of evil arise. If none appears to be preferable, then avoidance of evil takes precedence over the recognition of benefit. Educating individuals is an essential objective of Shari’ah, too. Education encourages people with faith and Taqwa (consciousness of Allah s. w. t. ) in order to accomplish public objectives. A truthful and moral person can emerge as representative of others and bearer of the ruling of Shari’ah related to ibadah , mu’amalah and jinayah.Lastly, one of the objectives of the Shari’ah is to maintain the standards of justice (‘adl ). It must be based on creation of equilibrium which accomplishes rights and responsibilities on one side, and abolishes unfairness and inequality on the other. It must embrace both individual and social justice, regardless whether it is a case of friend or foe, Muslim or non-Muslim, personal or public. Illicit behaviors and wrongdoings are disapproved and punished in order to avoid injustice as it is undesirable and contradictory with the philosophy of Qur’an and the Maqasid al-Shari’ah.IDENTIFICATION OF THE MAQASID As already indicated the ulema have differed in their approach to the identification of the maqasid. The first approach to be noted is the purely t extualist approach, which confines the identification of the maqasid to the clear text, the commands and prohibitions, which are in themselves the carriers of the maqasid. The maqasid, according to this view, have no separate existence as such. Provided that a command or prohibition is tasrihi (explicit) and ibtida’i (normative) it in itself conveys the maqsud of the Lawgiver.Although it is generally accepted that textual injunctions must be respected and observed as manifestations of the intentions of the Lawgiver, the majority approach to the identification of the maqasid takes into consideration not only the text but also the underlying ’illah or rationale of the text. 10 The chief exponent of Al-Maqasid, Abu Ishaq Ibrahim al-Shatibi , spoke affirmatively of the need to respect and observe the explicit injunctions, but added, that adherence to the obvious text must not be so rigid as to alienate the rationale and purpose of the text from its words and sentences.Such rigidity could, of course, then be just as much contrary to the maqsud of the Lawgiver as would be in the case of a conscious and direct neglect of that law. The preferred approach then is to read the text, whether it is of a command or a prohibition, in conjunction with its rationale and objective, for this is most likely to bear the greatest harmony with the intention of the Lawgiver. 11 Al- Shatibi elaborated that the maqasid that are known from such a comprehensive reading of the text are of two types, asliyyah (primary) and tab’iyyah (secondary).The former are the essential maqasid, or the daruriyyah, which the mukallaf must observe and protect regardless of his personal predilections, whereas the latter, the supplementary maqasid, or the hajiyyat, are those regarding which the mukallaf has some flexibility and choice. The comprehensive approach to the textual injunctions of the Shari’ah has given rise to two important questions. Firstly, the question that seeks to establish whether the means to a command, a wajib (obligation) or a haram (prohibition), should also be seen as integral to the goal and objective that is sought by that command.The general response given to this question is that supplementary aspects of commands and prohibitions are indeed integral to their objectives. Thus, it is generally accepted that whatever might be necessary for the completion of a wajib is also a part of that wajib, and that whatever may lead to a haram is also haram. There has, however, been some disagreement on this, emerging from certain areas of detail. The second question concerns the silence of the Lawgiver in respect of certain conducts, especially where a general reading of the relevant evidence casts light on the value of that conduct.The question may be formulated as follows: We know that the maqasid can be known from clear injunctions, but can they also be known from a general reading of the nusus (clear textual rulings) by way of induction? A l-Shatibi’s response to this question is possibly the most original. Page 5 of 7 Istiqra’ (induction), according to al-Shatibi, is one of the most important methods for identifying the maqasid of the Shari’ah. There may be various textual references to a subject, none of which may be in the nature of a decisive injunction.Yet their collective weight is such that it leaves little doubt as to the meaning that is to be obtained from them. A decisive conclusion may thus be arrived at from a plurality of inclining expressions. Al-Shatibi illustrates this with an important example. Nowhere in the Qur’an is there a specific declaration to the effect that the Shari’ah has been enacted for the benefit of the people, and yet, this must be the definitive conclusion that is to be drawn from the collective reading of a variety of textual proclamations. 12 To illustrate the point further we may give two more examples.There is no specific declaration in the textu al sources on the classification of the maqasid into the three categories of daruriyyah, hajiyyah and tahsiniyyah or on the conclusion that the Lawgiver has intended that these maqasid must be protected — and yet, through istiqra’, this classification and conclusion has generally been accepted by the ulema. Again, there is no specific textual declaration espousing the claim that the protection of the five values of life, intellect, faith, lineage and property is of the most primary importance to the Shari’ah — but once again, through istiqra’, this has also been generally accepted by the ulema.It is also to be noted that the inductive method is not confined to the identification of maqasid-cum-masalih alone, but extends to commands and prohibitions. 15 Conclusions arrived at through istiqra’, such as those in the above paragraph, are of great overall importance to the understanding and implementation of the Shari’ah. They are not to b e seen as being subject to doubt or lacking in credibility by way of being based on speculative reasoning. 14 In fact, al-Shatibi’s own position on this was to go so far as saying that the conclusions and positions established through istiqra’ are he general premises and overriding objectives of the Shari’ah, over and above the level of the specific rules. Al-Shatibi’s approach to the method of induction is reminiscent of knowledge that is acquired of the personality and character of an individual through a sustained association and observation of conduct of that individual. This kind of knowledge is broad and holistic as it is enriched with insight, and is likely to be more reliable compared to, say, knowledge based only on the observation of odd and isolated incidents in the daily activities of that individual.AL-MAQASID AND IJTIHAD Having expounded his theory of Al-Maqasid, al-Shatibi advocated and accentuated the need for knowledge of the science of A l-Maqasid as a prerequisite to the attainment of the rank of a mujtahid (jurist). Throughout Muslim history, those who neglected acquiring mastery over the science of Al-Maqasid did so at their own peril, as it made them liable to error in ijtihad. Included amongst these were the ahl al-bida’ (the proponents of pernicious innovations), who only looked at the apparent text of the Qur’an without pondering over its ultimate aims and objectives.These innovators (an allusion to the Kharijites) held steadfastly to the literal text of even the mutashabihah (the intricate segments of the Qur’an) and premised many conclusions on them. They took a fragmented and atomistic approach to the reading of the Qur’an, which failed to tie up the relevant parts of the text together. The leading ulema have, on the other hand, always viewed the Shari’ah as a unity, in which the detailed rules were to be read in the light of their broader premises and objectives. 6 Ibn à ¢â‚¬â„¢Ashur, the author of another landmark work on Al-Maqasid, also stressed that knowledge of the science of Al-Maqasid was indispensable to ijtihad in all its manifestations. 1 Some ulema, who confined the scope of their ijtihad only to literal interpretations, found it possible, ibn ‘Ashur observed, to project their personal opinions into the words of the text, but fell into error as they were out of touch with the general spirit and purpose of the surrounding evidence. We may illustrate this by reference to the differential views taken by the ulema with respect to whether the Zakah on commodities, such as wheat and dates, must be given in kind or could also be given in their monetary equivalent. The Hanafis validated the possibility of this substitution, but some ulema held otherwise. The Hanafi view was founded on the analysis that the purpose of Zakah was to satisfy the needs of the poor, which could just as easily be achieved with the monetary equivalent of the commod ity.Ibn Qayyim al-Jawziyyah likewise observed that where the ahadith on the subject of sadaqah al-fitr (the charity due on the Eid after Ramadan) sometimes referred to dates and at other times to raisins or food grains, the common purpose in all this was to satisfy the needs of the poor, which could be done with any of these staple foods of Madinah and its environs at that time. The purpose in any of these ahadith was not to confine the payment of the sadaqah to a particular commodity.A similar example relates to the issue of whether a person may pay his Zakat ahead of time, that is, prior to the expiry of the one year period when it becomes due, and whether he is liable to pay again if he has already paid before that time. Imam Malik, drawing an analogy with Salah, ruled affirmatively that the person would be liable to pay again. Subsequent Maliki jurists, including Ibn al-‘Arabi and Ibn Rushd, however, disagreed with this position and ruled that early payment of Zakah was pe rmissible.Indeed, if someone performs his Salah before its due time, he must perform it again at its proper time. But, there is a difference between Salah and Zakah, in that the former is time-bound to specific times but the latter is not in any such similar ways. Hence, Zakah may be paid earlier, especially if it is prepaid by only a few weeks. Scholars who have taken a non-literalist approach, on the other hand, have often been criticised for departing from certain parts of the textual sources.Imam Abu Hanifah, for example, was criticised by the Ahl al-Hadith (the Traditionalists), for having departed on occasions from the wordings of particular ahadith. It turns out upon closer inspection, however, that such scholars departed from the text only when they had reached a different conclusion by reading that particular text in the context of the of the other relevant evidence in the Qur’an and Sunnah. Disharmony and conflict between the aims and objectives of the Shari’ ah and its specific rulings may arise latently.A mujtahid or a judge may issue a ruling or a decision which appears at that time to be consistent with the text and maqsud of the Shari’ah. With time and further scrutiny, however, it may prove to be not so consistent. A judge may, for example, uphold a duly signed contract and make it binding on the parties. With time, however, the contract may prove to be grossly unfair on one of the parties. In such an eventuality the judge or the mujtahid can hardly ignore the attendant unfairness and insist on the strict adherence to the letter of the contract.Indeed, according to the Shari’ah laws of obligations, a contract is no longer a governing instrument between the shari’ah al-‘aqidayn (the contracting parties) if it becomes an instrument of injustice. The judge must therefore, in order to uphold the maqsud of justice, a primary and all-pervasive characteristic objective of the Shari’ah, set aside the contr act. The judge or the mujtahid must, likewise, give priority to the maqasid whenever there is such a latent discord. These discords or conflicts are most likely to occur where the specific rulings have been arrived at through the doctrine of Qiyas (Analogy).Thus, where a rigid adherence to Qiyas may lead to unsatisfactory results, recourse may be had to Istihsan (Juristic Preference) in order to obtain an alternative ruling that is in greater harmony with the objectives of the Shari’ah. An important feature of the ‘Maqasidi’ (objectives-based) approach in relation to ijtihad and the formulation of specific rules is the attention that the mujtahid must pay to the consequences of his rulings. Indeed, an ijtihad or fatwa would be deficient if it failed to contemplate its own ma’alat (consequences).The importance of such contemplation is demonstrated by the Prophet’s Sunnah. Therein, we note instances where the Prophet paid much attention to the possibl e consequences of his rulings, often in preference to other considerations. Thus, for example, although acutely aware of the treason and subversive activities of the Munafiqun (the Hypocrites), without and within the Muslim community, we find that he decided not to pursue them, stating simply that â€Å"I fear people might say that Muhammad kills his own Companions†.Similarly, although he personally would have liked very much to accept and execute ‘A’ishah Siddiqah’s suggestion to restore the Ka’bah to its original proportions, as founded by the patriarch Prophet, Ibrahim, again, we find that he decided not to, saying â€Å"I would have done so if I didn’t fear that this may induce our people into disbelief†. In both these instances, therefore, the Prophet did not take what would have been thought to be the normal course because of a foresight of the potential adverse consequences. Finally, we must turn to ijtihad in the context of cri mes and penalties.Of course, the normal procedure here is to apply the punishment whenever the cause and occasion for it is present. There may, however, be instances where to pardon the offender would be a more preferable course to take. The mujtahid and the judge must remain open and alert to such possibilities and reflect them in their judgements whenever so required. Al-Shatibi has in this connection drawn a subtle distinction between the normal ’illah that invokes a particular ruling in a given case and what he terms as ‘illah tahqiq manat al-khas (the verification of the particular) in the issuance of ijtihad and judgement.The mujtahid (scholar) may investigate the normal ‘illah and identify it in the case, for example, of a poor person who qualifies to be a recipient of zakah, but such an enquiry may take a different course when it is related to a particular individual as to what might seem appropriate or inappropriate to be applied in a particular case. The mujtahid needs therefore to be learned not only of the law and specific evidence but must also have acumen and insight to render judgements that are enlightened by both the overall consequences as well as the special circumstances of each case.CLASSIFICATION OF MAQASID AL SHARI’AH Although there are different classifications of maqasid al-Shari‘ah , Muslim cholarsgenerally classified them into three main categories: daruriyyat (essentials), hajiyyat (needs)and tahsiniyyat (embellishments). The essentials ( daruriyyat ) are particulars that are required and considered as vital for the founding of wellbeing in this world and the Hereafter. If society in some way neglects them, the outcome will be anarchy together with disorder of the functionality of the society which will result in total collapse.The essential masalih (plural of maslahah) or daruriyyat are further divided into five: (i) Preservation of faith/religion (Din); (ii) Preservation of the life(afs); (iii) Pres ervation of lineage/descendents/procreation (asl ); (iv) Preservation of property ( Mal ); and (v) Preservation of intellect/reason (‘Aql ). The embracement of the mentioned values is obligatory to ensure normal functioning of society and welfare of individuals. It is an obligation of society and people to implement all necessary measures to prevent or eliminate all the barriers that will hinder the realization of these values.The Shari’ah constantly seeks to embrace and endorse these values and enhance procedures for their continuation and progression. Furthermore, Islam as religion is greatly concerned with eradication of poverty and hardship of individuals and community, which is in consistency with the aims of Shari’ah. This is to ensure that people have prosperous life and that there will be no disruption to their normal life. The needs (hajiyyat ) serve as complementary to the essentials. Without the needs, people will face hardship.However, non-existence o f the needs will not create complete disruption of the normal order of life as is the case with the essentials. Ibn Ashur defined the meaning of complementary necessities in the following manner: â€Å"It consists of what is needed by the community for the achievement of its interest and the proper functioning of its affairs. If it is neglected, the social order will not actually collapse but will not function well. Likewise, it is not on the level of what is indispensable (daruri ). The embellishments ( tahsiniyyat ) relate to matters which bestow enhancement in the societyand guide to improved life.The admirable illustrations are Shari’ah ’s guidelines as clean body and attire for purpose of prayer, offering charity and avoiding lavishness and recommendation of supererogatory prayers (‘ibadat ). The rationale of all these are the accomplishment of integrity and perfection in entire fields of a person’s behavior. However, without these values the society will still be able to function and normal life process will not be interrupted. The illustrations of these matters are: voluntary ( sadaqah),and ethical and moral rules, and others. MAQASID AL-SHARI’AH AND ISLAMIC FINANCEThe significance of the Maqasid al-Shari’ah in Islamic finance originates from the perspective of the wealth in Islamic law. This significance relates also to the objectives of the Islamic law in finance and business transactions and to the overall goals of Shari’ah in wealth. The protection and preservation of the wealth is categorized in the sphere of necessary matters (daruriyyat). In previous section it has been elaborated that essentials necessities are those which, without their preservation, there would be disorder and anarchy in society.The abolishment of preservation for these matters would have for result loss of everything that we embrace as valued (Ibn Ashur, 2006). This characterization and classification of Maqasid al-Shariâ€℠¢ah demonstrates the most important position of the wealth and the substance of the finance in Islamic law. Therefore, it must be highlighted here that the finance is recognized by Maqasid al-Shari’ah as valuable aspect of life. Furthermore, the finance is preserved by Islamic law in form of Islamic lawful decisions and guidelines.It is essentially important to stress on the realization of Maqasid al-Shari’ah in the current Islamic finance transactions because of the several important reasons. First, there is a strong relationship between the objectives of Maqasid al-Shari’ah and the objectives of business transactions, as can be observed from the position of the wealth within Islamic law and Maqasid al-Shari'ah that requests the preservation of wealth in everyday business activities and the promotion of socially responsible activities.As a result, if objectives of Maqasid al-Shari’ah in business transactions are neglected, it may result in poverty and an archy. Second, the business transactions in domestic and international trade should be based on the principles of Islamic law, and the fundamental objectives of Maqasid al-Shari’ah in finance and business shall be applied as core guidelines to implement all types of financial transactions. Third, the particular objectives of Maqasid al-Shari’ah in business transactions must have perpetuity and constant outlook of the universal objectives of Maqasid al-Shari’ah .Last but not the least, the regulations of business transactions should be within the rules and the requirements of Maqasid al-Shari’ah and Islamic law. In other words, Maqasid al-Shari’ah must administer and regulate the Shari’ah principle of the Islamic finance. CONCLUSION The purpose of every civilization is to promote peace, prosperity, and freedom for its own members and for all others through compassionate justice.The challenge for all of us therefore is how to do this. Hence, T he One (Allah) Who creates knows, surely the One Who knows will speak. Since He will speak, surely He will speak to those who possess consciousness and thought, and those who will understand His speech. Since He will speak to those who possess thought, surely he will speak to mankind, whose nature and awareness are the most comprehensive of all conscious beings and indeed He has done by revealing the Quran.As much as we understand Maqasid al-Shari’ah which are undoubtedly rooted in the textual injunctions of the Qur’an and Sunnah, we will achieve the goal and purpose that is advocated and upheld. 1. MAQASID AL-SHARI’AH IN ISLAMIC FINANCE: AN OVERVIEW, by mirza vejzagic 2. AL-MAQASID AL-SHARI’AH THE OBJECTIVES OF ISLAMIC LAW, Mohammed Hashim Kamali 3. Maqasid al Shari’ah: Strategy to Rehabilitate Religion in America by Dr. Robert D. Crane 4. The Collection of Risale-i Nur, The Letters by Said Nursi