Assessing Compnay’s Financial Health

Assessing a Company's Future Financial Health Assessing the long-term financial health of a company is an important task for management in its formulation of goals and strategies and for outsiders as they consider the extension of credit, long- term supplier agreements, or an investment in a company’s equity. History abounds with examples of companies that embarked upon overly ambitious programs and subsequently discovered that their portfolios of programs could not be financed on acceptable terms.The outcome frequently was the abandonment of programs in mid-stream at considerable financial, organizational, and human cost. It is the responsibility of management to anticipate future imbalance in the corporate financial system before its severity is reflected in the financials, and to consider corrective action before both time and money are exhausted. The avoidance of bankruptcy is an insufficient standard. Management must ensure the continuity of the flow of funds to all of it s strategically important programs, even in periods of adversity.Figure A provides a conceptualization of the corporate financial system, with a suggested step-by- step process to assess whether it will remain in balance over the ensuing 3-5 years. The remainder of this note discusses each of the steps in the process and then provides an exercise on the various financial measures that are useful as part of the analysis. The final section of the note demonstrates the relationship between a firm’s strategy and operating characteristics, and its financial characteristics.Professor Thomas Piper prepared the original version of this note, â€Å"Assessing a Firm’s Future Financial Health,† HBS No. 201-077, which is being replaced by this version prepared by the same author. This note was prepared as the basis for class discussion. Copyright  © 2010, 2011 President and Fellows of Harvard College. To order copies or request permission to reproduce materials, call 1-80 0-545- 7685, write Harvard Business School Publishing, Boston, MA 02163, or go to www. hbsp. harvard. edu/educators.This publication may not be digitized, photocopied, or otherwise reproduced, posted, or transmitted, without the permission of Harvard Business School. 911-412Assessing a Company's Future Financial Health Figure AThe Corporate Financial System Goals Step 1Strategy Market, Competitive Technology Regulatory and Operating Characteristics Step 2Revenue Outlook †¢growth rate †¢volatility, predictability Step 3Step 4 Investment in AssetsEconomic Performance †¢to support growth†¢profitability †¢improvement/deterioration in asset management cash flow †¢volatility, predictability Step 5Step 6 External Financing NeedTarget Sources of Finance †¢$ amount†¢lending/investing criteria †¢timing, duration †¢deferability †¢attractiveness of firm to each target source Step 7 Viability of 3-5 Year Plan †¢consistency with goals â € ¢achievable operating plan †¢achievable financing plan Step 8 Stress Test for Viability Under Various scenarios Step 9 Financing and Operating Plan for Current Year Steps 1, 2: Analysis of FundamentalsThe corporate financial system is driven by the goals, business unit choices and strategies, market conditions and the operating characteristics. The firm’s strategy and sales growth in each of its business units will determine the investment in assets needed to support these strategies; and the effectiveness of the strategies, combined with the response of competitors and regulators, will 2 Assessing a Company's Future Financial Health911-412 strongly influence the firm’s competitive and profit performance, its need for external finance, and its access to the debt and equity markets.Clearly, many of these questions require information beyond that contained in a company’s published financial reports. Step 3: Investments to Support the Business Unit(s) Stra tegy(ies) The business unit strategies inevitably require investments in accounts receivable, inventories, plant ; equipment, and possibly, acquisitions. Step 3 of the process is an attempt to estimate the amount that will be tied up in each of the asset types by virtue of sales growth and the improvement/deterioration in asset management.An analyst can make a rough estimate by studying the past pattern of the collection period, the days of inventory, and plant ; equipment as a percent of cost of goods sold; and then applying a â€Å"reasonable value† for each to the sales forecast or the forecast of cost of goods sold. Extrapolation of past performance assumes, of course, that the future underlying market, competitive and regulatory â€Å"drivers† will be unchanged from the conditions that influenced the historical performance. Step 4: Future Profitability and Competitive PerformanceStrong sustained profitability is an important determinant of (1) a firm’s acce ss to debt and/or equity finance on acceptable terms; (2) its ability to self-finance growth through the retention of earnings; (3) its capacity to place major bets on risky new technologies, markets, and/or products; and (4) the valuation of the company. A reasonable starting point is to analyze the past pattern of profitability. 1. What have been the average level, trend and volatility of profitability? 2. Is the level of profitability sustainable, given the outlook for the market and for competitive and regulatory pressures? . Is the current level of profitability at the expense of future growth and/or profitability? 4. Has management initiated major profit improvement programs? Are they unique to the firm or are they industry-wide and may be reflected in lower prices rather than higher profitability? 5. Are there any â€Å"hidden† problems, such as suspiciously high levels or buildups of accounts receivable or inventory relative to sales, or a series of unusual transactio ns and/or accounting changes? Step 5: Future External Financing NeedsWhether a company has a future external financing need depends on (1) its future sales growth; (2) the length of its cash cycle; and (3) the future level of profitability and profit retention. Rapid sales growth by a company with a long cash cycle (a long collection period + high inventories + high plant ; equipment relative to sales) and low profitability/low profit retention is a recipe for an ever- increasing appetite for external finance, raised in the form of loans, debt issues, and/or sales of shares. Why?Because the rapid sales growth results in rapid growth of an already large level of total assets. The increase in total assets is offset partially by an increase in accounts payable and accrued expenses, and by a small increase in owners’ equity. However, the financing gap is substantial. For example, the company portrayed in Table A requires $126 million of additional external finance by the end of y ear 2010 to finance the increase in total assets required to support 25% per year sales growth in a business that is fairly asset intensive. 3 911-412Assessing a Company's Future Financial Health Table A |Assuming a 25% Increase in Sales ($ in millions) | | | | | | |Assets |2009 |2010 | |Cash |$ 12 |^ 25% |$ 15 | |Accounts receivable |240 |^ 25% |300 | |Inventories |200 |^ 25% |250 | |Plant ; equipment | 400 |^ 25% | 500 | |Total |$852 | |$1,065 | | | | | | |Liabilities and Equity | | | | |Accounts payable |$100 |^ 25% |$ 125 | |Accrued expenses |80 |^ 25% |100 | |Long-term debt |272 |Unchanged |272 | |Owners’ equity | 400 |footnote a | 442 | |Total |$852 | |$ 939 | |External financing need | 0 | | 126 | |Total |$852 | |$1,065 | a It is assumed (1) that the firm earns $60 million (a 15% return on beginning of year equity) and pays out $18 million as a cash dividend; and (2) that there is no required debt repayment in 2010. If, however, the company reduced its sales growth to 5% (and total assets, accounts payable and accrued expenses increased accordingly by 5%), the need for additional external finance would drop from $126 million to $0.High sales growth does not always result in a need for additional external finance. For example, a food retailer that extends no credit to customers, has only eight days of inventory, and does not own its warehouses and stores, can experience rapid sales growth and not have a need for additional external finance provided it is reasonably profitable. Because it has so few assets, the increase in total assets is largely offset by a corresponding, spontaneous increase in accounts payable and accrued expenses. Step 6: Access to Target Sources of External Finance Having estimated the future financing need, management must identify the target sources (e. g. banks, insurance companies, public debt markets, public equity market) and establish financial policies that will ensure access on acceptable terms. 1. How sound is the fi rm’s financial structure, given its level of profitability and cash flow, its level of business risk, and its future need for finance? 2. How will the firm service its debt? To what extent is it counting on refinancing with a debt or equity issue? 3. Does the firm have assured access on acceptable terms to the equity markets? How many shares could be sold and at what price in â€Å"good times†? In a period of adversity? 4. What criteria are used by each of the firm’s target sources of finance to determine whether finance will be provided and, if so, on what terms? 4 Assessing a Company's Future Financial Health911-412The evaluation of a firm’s financial structure can vary substantially depending on the perspective of the lender/investor. A bank may consider a seasonal credit a very safe bet. Considerable shrinkage can occur in the conversion of inventory into sales and collections without preventing repayment of the loan. In contrast, an investor in the f irm’s 20-year bonds is counting on its sustained health and profitability over a 20-year period. Step 7: Viability of the 3-5 Year Plan 1. Is the operating plan on which the financial forecasts are based achievable? 2. Will the strategic, competitive, and financial goals be achieved? 3. Will the resources required by the plan be available? 4.How will the firm’s competitive, organizational, and financial health at the end of the 3-5 years compare with its condition at the outset? Step 8: Stress Test under Scenarios of Adversity Financing plans typically work well if the assumptions on which they are based turn out to be accurate. However, this is an insufficient test in situations marked by volatile and unpredictable conditions. The test of the soundness of a 3-5 year plan is whether the continuity of the flow of funds to all strategically important programs can be maintained under various scenarios of adversity for the firm and/or the capital markets—or at least be maintained as well as your competitors are able to maintain the funding of their programs.Step 9: Current Financing Plan How should the firm meet its financing needs in the current year? How should it balance the benefits of future financing flexibility (by selling equity now) versus the temptation to delay the sale of equity by financing with debt now, in hopes of realizing a higher price in the future? The next section of this note is designed to provide familiarity with the financial measures that can be useful in understanding the past performance of a company. Extrapolation of the past performance, if done thoughtfully, can provide valuable insights as to the future health and balance of the corporate financial system.Historical analysis can also identify possible opportunities for improved asset m a n a g e m e n t or margin i m p r o v e m e n t , as well as provide an important, albeit incomplete, basis for evaluating the attractiveness of a business and/or the effective ness of a management team. Financial Ratios and Financial Analysis The three primary sources of financial data for a business entity are the income statement, the balance sheet, and the statement of cash flows. The income statement summarizes revenues and expenses over a period of time. The balance sheet is the list of what a company owns (its assets), what it owes (its liabilities), and what has been invested by the owners (owners’ equity) at a specific point in time.The statement of cash flow categorizes all cash transactions during a specific period of time in terms of cash flows generated or used for operating activities, investing activities, and financing activities. The focus of this section is on performance measures based on the income statements and balance sheets of SciTronics—a medical device company. The measures can be grouped by type:(1) 5 911-412Assessing a Company's Future Financial Health profitability measures, (2) activity (asset management) measure s, (3) leverage and liquidity measures. Please refer to the financial statements of SciTronics as shown in Exhibits 1 and 2 at the end of the note.As you work through the questions that follow, please also consider three broad questions: 1. What is your assessment of the performance of SciTronics during the 2005-2008 period? 2. Has its financial strength and its access to external sources of finance improved or weakened? 3. What are the 2-3 most important questions you would ask management as the result of your analysis? Sales Growth Sales growth is an important driver of the need to invest in various type assets and of the company’s value. It also provides some indication of the effectiveness of a firm’s strategy and product development activities, and of customer acceptance of a firm’s products and services. 1.During the four-year period ended December 31, 2008, SciTronics’ sales grew at a % compound rate. There were no acquisition or divestitures. Prof itability Ratio: How Profitable Is the Company? Profitability is a necessity over the long-run. It strongly influences (1) the company’s access to debt; (2) the valuation of the company’s common stock; (3) the willingness of management to issue stock; and (4) the capacity to self-finance. One measure of profitability of a business is its return on sales, measured by dividing net income by net sales. 1. SciTronics’ profit as a percentage of sales in 2008 was %. 2. This represented an increase/decrease from % in 2005.Management and investors often are more interested in the return earned on the funds invested than in the level of profits as a percentage of sales. Companies operating in businesses requiring very little investment in assets often have low profit margins but earn very attractive returns on invested funds. Conversely, there are numerous examples of companies in very capital-intensive businesses that earn miserably low returns on invested funds, despit e seemingly attractive profit margins. Therefore, it is useful to examine the return earned on the funds provided by the shareholders and by the â€Å"investors† in the company’s interest-bearing debt.To increase the comparability across companies, it is useful to use EBIAT (earnings before interest but after taxes) as the measure of return. The use of EBIAT as the measure of return also allows the analyst to compare the return on invested capital (calculated before the deduction of interest expense), with the company’s estimated cost of capital to determine the long-term adequacy of the company’s profitability. EBIAT is calculated by multiplying EBIT (earnings before interest and taxes) times (1—the average tax rate). EBIT x ? 1 ? tax rate? Owners? equity plus interest bearing debt 3. SciTronics had a total of $_ of capital at year-end 2008 and earned before interest but after taxes (EBIAT) $ during 2008.Its return on capital was % in 2008 which r epresented an increase/decrease from the % earned in 2005. 6 Assessing a Company's Future Financial Health911-412 From the viewpoint of the shareholders, an equally important figure is the company’s return on equity. Return on equity is calculated by dividing profit after tax by the owners’ equity. Profit after taxes Owners? equity Return on equity indicates how profitably the company is utilizing shareholders’ funds. 4. SciTronics had $_ of owners’ equity and earned $_ after taxes in 2008. Its return on equity was % an improvement/deterioration from the % earned in 2005. Activity Ratios: How Well Does the Company Employs Its Assets?The second basic type of financial ratio is the activity ratio. Activity ratios indicate how well a company employs its assets. Ineffective utilization of assets results in the need for more finance, unnecessary interest costs, and a correspondingly lower return on capital employed. Furthermore, low activity ratios or deterior ation in the activity ratios may indicate uncollectible accounts receivable or obsolete inventory or equipment. Total asset turnover measures the company’s effectiveness in utilizing its total assets and is calculated by dividing total assets into sales. Net sales Total assets Total asset turnover for SciTronics in 2008 can be calculated by dividing $ into $ .The turnover improved/deteriora ed from times in 2005 to times in 2008. It is useful to examine the turnover ratios for each type of asset, as the use of total assets may hide important problems in one of the specific asset categories. One important category is accounts receivables. The average collection period measures the number of days that the company must wait on average between the time of sale and the time when it is paid. The average collection period is calculated in two steps. First, divide annual credit sales by 365 days to determine average sales per day: Net credit sales 365 days Then, divide the accounts r eceivable by average sales per day to determine he number of days of sales that are still unpaid: Accounts receivable Credit sales per day SciTronics had $ invested in accounts receivables at year-end 2008. Its average sales per day were $ during 2008 and its average collection period was _days. This represented an improvement/deterioration from the average collection period of days in 2005. A third activity ratio is the inventory turnover ratio, which indicates the effectiveness with which the company is employing inventory. Since inventory is recorded on the balance sheet at cost (not at 7 911-412Assessing a Company's Future Financial Health ts sales value), it is advisable to use cost of goods sold as the measure of activity. The inventory turnover figure is calculated by dividing cost of goods sold by inventory: Cost of goods sold Inventory 3. SciTronics apparently needed $ of inventory at year-end 2008 to support its operations during 2008. Its activity during 2008 as measured by the cost of goods sold was $_ . It therefore had an inventory turnover of times. This represented an improvement/deterioration from times in 2005. An alternative measure of inventory management is days of inventory, which can be calculated by dividing cost of goods sold by 365 days to determine average cost of goods sold per day.Days of inventory is calculated by dividing total inventory by cost of goods sold per day. A fourth and final activity ratio is the fixed asset turnover ratio which measures the effectiveness of the company in utilizing its plant and equipment: NetsalesNet fixed assets 4. SciTronics had net fixed assets of $ and sales of $ in 2008. Its fixed asset turnover ratio in 2008 was times, an improvement/deterioration from times in 2005. Leverage Ratios: How Soundly is the Company Financed? There are a number of balance sheet measures of financial leverage. The various leverage ratios measure the relationship of funds supplied by creditors to the funds supplied by owners.The use of borrowed funds by reasonably profitable companies will improve the return on equity. However, it increases the riskiness of the business and the riskiness of the returns to the stockholders, and can result in financial distress if used in excessive amounts. The ratio of total assets divided by owners’ equity is an indirect measure of leverage. A ratio, for example, of $6 of assets for each $1 of owner’s equity indicates that $6 of assets is financed by $1 of owners’ equity and $5 of liabilities. 1. SciTronics’ ratio of total assets divided by owners’ equity increased/decreased from at year –end 2005 to at year-end 2008.The same â€Å"story† of increasing financial leverage is told by dividing total liabilities by total assets. 2. At year-end 2008, SciTronics’ total liabilities were % of its total assets, which compares with % in 2005. Lenders—especially long-term lenders—want reasonable assuranc e that the company will be able to repay the loan in the future. They are concerned with the relationship between a company’s debt and its total economic value. This ratio is called the total debt ratio at market. Total liabilities Total liabilities ? market value of the equity The market value of the equity is calculated by multiplying the number of shares of common stock outstanding times the market price per share. 8Assessing a Company's Future Financial Health911-412 3. The market value of SciTronics’ equity was $175,000,000 at December 31, 2008. The total debt ratio at market was . A fourth ratio that relates the level of debt to economic value and performance is the times interest earned ratio. This ratio relates earnings before interest and taxes—a measure of profitability and of long-term viability—to the interest expense—a measure of the level of debt. Earnings before interest and taxes Interest expense 4. SciTronics’ earnings befor e interest and taxes (operating income) were $_ in 2008 and its interest charges were $ . Its times interest earned was times.This represented an improvement/deterioration from the 2005 level of times. A fifth and final leverage ratio is the number of days of payables. This ratio measures the average number of days that the company is taking to pay its suppliers of raw materials and components. It is calculated by dividing annual purchases by 365 days to determine average purchases per day: Annual purchases 365 days Accounts payable are then divided by average purchases per day: Accounts payable Average purchases per day to determine the number of days purchases that are still unpaid. It is often difficult to determine the purchases of a firm.Instead, the income statement shows cost of goods sold, a figure that includes not only raw materials but also labor and overhead. Thus, it often is only possible to gain a rough idea as to whether or not a firm is becoming more or less depende nt on its suppliers for finance. This can be done by tracking the pattern over time of accounts payable as a percent of cost of goods sold. Accounts payable Cost of goods sold 5. SciTronics owed its suppliers $ at year end 2008. This represented % of cost of goods sold and was an increase/decrease from % at year end 2005. The company appears to be more/less prompt in paying its suppliers in 2008 than it was in 2005. 6.The financial riskiness of SciTronics increased/decreased between 2005 and 2008. Liquidity Ratios: How Liquid is the Company? The fourth basic type of financial ratio is the liquidity ratio. These ratios measure a company’s ability to meet financial obligations as they become current. The current ratio, defined as current assets divided by current liabilities, assumes that current assets are much more readily and certainly convertible into cash than other assets. It relates these fairly liquid assets to claims that are due within one year—the current liab ilities. 9 911-412Assessing a Company's Future Financial Health Current assets Current liabilities 1.SciTronics held $ of current assets at year-end 2008 and owed $ to creditors due to be paid within one year. Its current ratio was , an increase/decrease from the ratio of at year-end 2005. The quick ratio or acid test is similar to the current ratio but excludes inventory from the current assets: Current assets ? Inventory Current liabilities Inventory is excluded because it is often difficult to convert into cash (at least at book value) if the company is struck by adversity. 2. The quick ratio for SciTronics at year-end 2008 was _, an increase/decrease from the ratio of at year-end 2005. Profitability RevisitedManagement can â€Å"improve† its return on equity by improving its return on sales and/or its asset turnover and/or by increasing its financial leverage as measured by total assets divided by owners’ equity. ROE ? Net Income x Sales Sales Total Assets Total As sets x Owners? Equity Each method of â€Å"improvement† differs operationally and in terms of risk. 1. The improvement in SciTronics’ return on equity from 8. 2% in 2005 to 18. 7% in 2008 resulted from an increase/decrease in its return on sales; and an increase/decrease in its asset turnover, and an increase/decrease in its financial leverage. A WarningThe calculated ratios are no more valid than the financial statements from which they are derived. The quality of the financial statements should be assessed and appropriate adjustments made, before any ratios are calculated. Particular attention should be placed on assessing the reasonableness of the accounting choices and assumptions embedded in the financial statements. The Case of the Unidentified Industries The preceding exercise suggests a series of questions that may be helpful in assessing a company’s future financial health. It also describes several ratios that are useful in answering some of the questi ons, especially if the historical trend in these ratios can be reasonably extrapolated.However, it is also important to compare the actual absolute value with some standard to determine whether the company is performing well. Unfortunately, there is no single current ratio, inventory turnover, or debt ratio that is appropriate to all industries. The operating and competitive characteristics of the company’s industry greatly influence its investment in the various types of assets, the riskiness of these investments, and the financial structure of its balance sheet. 10 Assessing a Company's Future Financial Health911-412 Try to match the five following types of companies with their corresponding balance sheets and financial ratios as shown in Exhibit 3. 1. Electric utility 2. Japanese automobile manufacturer 3. Discount general merchandise retailer 4.Automated test equipment/systems company 5. Upscale apparel retailer In doing the exercise, consider the operating and competitiv e characteristics of the industry and their implications for (1) the collection period; (2) inventory turnover; (3) the amount of plant and equipment; (4) the profit margins and profitability; and (5) the appropriate financing structure. Then identify which one of the five sets of balance sheets and financial ratios best match your expectations, given the difficult economic conditions in 2009. 11 911-412Assessing a Company's Future Financial Health Exhibit 1SciTronics, Inc. Consolidated Income Statements 2005-2008 ($ in thousands) 20042005200620072008 | | | | | | |Sales |$115,000 |$147,000 |171,000 |$205,000 |$244,000 | |Cost of goods sold | | 43,000 | 50,000 | 63,000 | 74,000 | |Gross margin | |104,000 |121,000 |142,000 |170,000 | |Research ; development | |15,000 |20,000 |26,000 |28,000 | |Sell, general ; administrative | | 79,000 | 92,000 | 106,000 | 116,000 | |Operating income | 10,000 |9,000 |10,000 |26,000 | |Interest expense | | 1,000 | 2,000 | 2,000 | 2,000 | |Profit before tax | |9,000 |7,000 |8,000 |24,000 | |Income tax | |4,000 | 2,000 | 3,000 | 10,000 | |Net income | |$ 5,000 |$ 5,000 |$ 5,000 |$14,000 | Exhibit 2SciTronics, Inc. Consolidated Balance Sheet at December 31, 2005-2008 ($ in thousands) | | | | | | |2005 |2006 |2007 |2008 | | | | | | | |Cash |$ 9,000 |$ 10,000 |$ 15,000 |$ 18,000 | |Accounts receivable |42,000 |53,000 |61,000 |66,000 | |Inventories |21,000 |28,000 |30,000 |29,000 | |Other current assets | 10,000 | 13,000 | 21,000 | 20,000 | |Total current assets |82,000 |104,000 |127,000 |133,000 | |Net property ; equipment |9,000 |12,000 |13,000 |18,000 | |Other | 2,000 | 2,000 | 6,000 | 8,000 | |Total assets |$93,000 |$118,000 |$146,000 |$159,000 | | | | | | | |Notes payable |$ 3,000 |$ 18,000 |$ 8,000 |$ 10,000 | |Accounts payable |5,000 |6,000 |7,000 |6,000 | |Accrued expenses |10,000 |13,000 |21,000 |28,000 | |Other current liabilities | 3,000 | 3,000 | 4,000 | 4,000 | |Total urrent liabilities |21,000 |40,000 |40,000 |48,000 | |Lo ng-term senior debt |10,000 |9,000 |8,000 |7,000 | |Subordinated convertible debt |– |– |20,000 |20,000 | |Other liabilities |1,000 |3,000 |7,000 |9,000 | |Owners’ equity |61,000 |66,000 |71,000 |85,000 | |Treasury stock |– |– |– |(10,000) | |Owners’ equity | 61,000 | 66,000 | 71,000 | 75,000 | |Total liabilities and equity |$93,000 |$118,000 |$146,000 |$159,000 | 12 Assessing a Company's Future Financial Health911-412 Exhibit 3Unidentified Industries Balance Sheet Percentages ABCDE Cash1. 5%14. 4%12. 1%13. 3%11. 0% Receivables4. 63. 830. 939. 811. 8 Inventories1. 824. 613. 74. 716. 7 Other current assets2. 04. 35. 03. 810. 0 Property and equipment (net)74. 549. 634. 122. 120. 3 Other assets 15. 6 3. 4 4. 3 16. 3 30. 2 Total assets100%100%100%100%100% Notes payable5. 3%0. 4% 5. 4%18. 2%1. 4% Accounts payable2. 124. 811. 0 8. 38. 8 Other current liabilities5. 917. 014. 28. 716. 5 Long-term debt33. 610. 034. 323. 121. 7 Other liabilitie s26. 32. 211. 25. 62. 0Owners’ equity 26. 8 45. 6 23. 9 36. 1 49. 6 Total100%100%100%100%100% Selected Ratios Net profit/net sales10. 3%1. 5% 5. 1%1. 3%(5. 8%) Return on capital 6. 8%9. 2%12. 6%0. 9%(3. 1%) Return on equity12. 5%10. 8%28. 1%2. 2%(7. 6%) Sales/total assets . 323. 251. 31. 63 . 65 Collection period (days)5248623243 Days of inventory43326231147 Sales/net property ; equipment. 436. 73. 82. 93. 6 Total assets/equity3. 732. 194. 192. 792. 01 Total liabilities/total assets. 73. 54. 76. 66. 50 Interest-bearing debt/total capital 59%19% 62%53% 32% Times interest earned3. 2 16 6. 0 4. 4NM Current assets/current liabilities . 671. 112. 011. 221. 85 13

Aristotle or a post-modern anti-hero?

In On the Road Jack Kerouac produces what has become known as the archetypal Beat hero, Dean Moriaty. An analysis of whether he is closer to a traditional Aristotelian hero or to the postmodern anti-hero will reveal much about the often contradictory forces at work within the â€Å"rhythms of fifties underground America, jazz, sex, generosity, chill dawns and drugs . . . â€Å" (Holmes, 1957). Before discussing which Moriaty is closer to it will be necessary to briefly define both the traditional and the postmodern hero, identifying what they hold in common and what divides them.The traditional Aristotelian hero is a high-born man, normally royal or at least from the aristocracy who appears to be on top of the world at the beginning of his story. He has many advantages, both natural and acquired. He is often successful, popular with others and apparently happy. The tragic hero normally has something that has been called â€Å"the fatal flaw† (Kaufmann, 1992). This flaw may b e something he has no blame for, such as the heel that makes Achilles physically vulnerable, the jealousy that makes Othello emotionally vulnerable or the introspection that makes Hamlet delay so long. This fatal flaw often leads, in one way or another, to the downfall of the tragic hero.So the traditional tragic hero falls from a high social position to disgrace and/or death through circumstance and through his supposed fatal flaw. Aristotle said that his fate should inspire â€Å"pity and fear† within the audience (Aristotle, 2001).   Pity for the fate of the individual tragic hero and fear that they might fall into a similar situation themselves.   By contrast, the anti-hero is, according to the American Heritage Dictionary, â€Å"a main character in a dramatic or narrative work who is characterized by a lack of traditional heroic qualities, such as idealism of courage† (America, 1992).Some clue to which definition of protagonist – hero or anti-hero †“ Dean Moriaty falls can be found within the fact that the very term â€Å"anti-hero† is in fact a Twentieth Century invention (Lawall, 1966).   The idea of the anti-hero is in many ways linked to early twentieth century philosophies such as Existentialism, which suggested that life has little meaning and that no absolute standards of morality are relevant. The anti-hero creates his own sense of values, often from moment to moment, according to the needs of the moment. The postmodern anti-hero takes on similar propensities, although he is even more extreme. The â€Å"Man-With-No-Name† character that Clint Eastwood played in the 1960’s spaghetti westerns is perhaps the classic postmodern anti-hero.The world of these westerns does not have â€Å"good† and â€Å"evil† as could be identified by the white/black horses, the white/black cowboy hats and the handsome/ugly actors of the traditional Western. There are merely shades of darkness in the spag hetti western, and the same can be said for most of the characters in On the Road, set as it is within a world of constant wandering throughout America that is in some ways very similar to a western.One of the most important facets of On the Road is the fact that there are two main characters. First, there is Sal Paradise, the titular narrator of the novel that has been more or less associated with Kerouac himself; and second, there is Dean Moriaty. The reader is rapidly and constantly drawn into views of Dean Moriaty. Sal describes him as â€Å"simply a youth tremendously excited with life† who possesses â€Å"a kind of holy lightning . .. flashing from his excitement and his visions† (Kerouac, 1957).   Later Dean is described as â€Å"the holy con-man with the shining mind† (Kerouac, 1957).So in the manner of both the hero and the anti-hero, Dean is a charismatic character who draws others to him through the sheer energy that he exudes and his apparent zest for everything life has to offer. But Dean is very low born. He is apparently the son of an alcoholic who was never really raised properly and who has had criminal propensities from a very young age. Dean has been in prison for stealing cars. While traditional tragic heroes may commit the most serious of crimes (often murder) they are not normally criminal in a conventional sense. There is something petty and hopeless about the kind of criminality that Dean Moriaty displays.But in the best tradition of the postmodern anti-hero, Dean has learned a lot about how to live from his incarceration. He states, with characteristic bluntness:Only a guy who’s spent five years in jail can go to such maniacal  helpless extremes . . . prison is where you promise yourself the  right to live.  (Kerouac, 1957)So the anti-hero discovers himself through falling from grace, even if he probably did not have far to fall in the first place. Rather than going to his death or languishing in the shame of his crimes he lives out the years of his imprisonment and then comes out to go â€Å"on the road†. In one sense the novel shows what might happen when the tragic hero has fallen, been transformed and emerged as a postmodern anti-hero.Dean does fall further however, especially as the novel continues and the novelty of being free to do as he wishes starts to wear thin. Thus his abandonment of his wife and child are brought to his attention, indeed he is confronted with it. Sal, ever the intelligent observer, states that â€Å"where once Dean would have talked his way out, now he fell silent . . . he was BEAT† (Kerouac, 1957).The protagonist of the novel goes through it performing decidedly un-heroic deeds such as this abandonment. He also expresses a constant and rather disturbing attraction for very young girls, often only 12 or 13, especially those who are prostitutes and thus totally vulnerable to his desires. Near the end of the novel he actually abandons S al as he lies sick in Mexico City. Ultimately Sal comes to see Dean in a very brutal light, oine that hardly meets any kind of definition other than a decidedly anti-hero:. . . when I got better I realized what a rat he was, but then I hadbto understand the impossible complexity of his life, how he had toleave me there, sick, to get on with his wives and woes.b(Kerouac, 1957) (emphasis added)Dean is thus essentially a coward, and a lack of courage is never part of the character of a tragic hero, whatever other faults he may possess. But Sal, in characteristically postmodern fashion, does not blame Dean for his cowardice and being a â€Å"rat†. The postmodern condition is one in which there are no absolute standards of ethics and thus everything is more or less forgiven.It is the â€Å"complexity† of his life that Sal feels makes Dean constantly abandon people. He is just another character who moves through an aimless world with little to concern him except an increasin gly futile search for a purely hedonistic lifestyle.The constant traveling in the book makes Dean an anti-hero rather than a hero. While many tragic heroes travel (Aeschylus, Odysseus) they nearly always have some kind of destination – whether it be ethical or geographical, in mind. The characters of On the Road travel constantly, but with, to quote a popular song of the period â€Å"no particular place to go†. They travel for the sake of traveling.   This aimless travel is a symbol for the lack of a higher ethical or religious structure within which to live. The characters of On the Road are sure of nothing, except that, as Sal says at the end of the book â€Å"nobody knows what’s going to happen to anybody besides the forlorn rags of growing old† (Kerouac, 1957).Dean moves from the West to the East to the West to the South . . .   and on with a sense of rather melancholy endlessness. At the end of the novel Dean returns to the West Coast on his own, and Sal ruminates upon the sad meaninglessness of life. While much has happened in the novel in some senses, in the classic, Aristotelian sense very little has occurred that will permanently change people. On the Road has no simple dramatic structure. There is no climax and denouement. Rather it is a formless kind of a quest story in which the search is an end in itself.This endless quest give On the Road   a post-modern structure. The characters are on an existential search for themselves that seems doomed to failure. Dean Moriaty is the archetypal post-modern anti-hero within this quest. He draws people to him, and they travel thousands of miles in order to be a part of his wandering life. But when he loses interest in them he drops them with what appears to be a callous disregard for the consequences. But there is something â€Å"heroic† in his actions as he is at least being honest. He is being true to himself. If that â€Å"self† much of the time is cowardly, c asually cruel, vaguely criminal and pedophilic in nature then he will still reveal it.To conclude, it seems clear that Dean Moriaty, the protagonist of On the Road is far nearer to a post-modern anti-hero than   to a traditional, classical hero. The world that he inhabits is one in which there is little meaning. It is an often dark, forbidding place in which the Cold War threatens nuclear missiles and in which a kind of despairing hedonism is the only course of action which seems relevant to most of the characters. They move around the country at an often dizzying rate, driving all night long for no apparent reason other than the fact they are moving. Romantic relationships are often little more than brief romantic liaisons and marriages are abandoned with the same disregard for consequences that the children that have come from them are thrown away. Dean Moriaty is a post-modern anti-hero, one that a myriad of similar figures have been more or less based upon in the fifty years s ince On the Road   was first publish.Works CitedAmerican Heritage Dictionary, Dell, New York: 1992.Aristotle, The Basic Works of Aristotle, Modern Library, New York: 2001.Holmes, Richard. â€Å"On the Road Review†. The Times, London: 1957.Kaufmann, Walter. Tragedy and Philosophy. Princeton UP, New York: 1992.Kerouac, Jack. On the Road. Penguin, New York: 1957.Lawall, Greg. â€Å"Apollonius Argonautica. Jason as Anti-Hero†. Yale Classical Studies. 19, 119-169.

Ancient Greece The story of Medea

Ancient Greece The story of Medea Essay In Ancient Greece, the name of the monstrous murdering mother Medea was well- known. The story of Medea, the mysterious sorcerer-princess who helped Jason steal the famous Golden Fleece from her father, is a mythical romance with a terrible, terrible ending. Splendids new creative adaptation puts the audience at the heart of the performance, as a twenty-first century chorus presents a timeless tale of passion, betrayal and revenge. The performance took the audience through all sorts of emotions, as the story of a mother and wife took revenge on her hero husband that betrayed her by cheating with a princess. Medea takes revenge so far and even though she is banished from her city, she takes the ultimate revenge on Jason killing her own children. Although the play had many characters and a chorus, there was only 3 actors in whole performance. These 3 actors managed to multi-role play perfectly by using such simple ideas that made the audience recognise the characters they were playing easily. One of the most recognised and in my opinion, effective way they managed to change characters was by using scarves. It wasnt a complicated fiddling about changing clothing, it was a simple scarf and a belt. When the actors were being narrators or not performing, they wore these scarves in a different way each time to represent the character that they were playing. All of the costume changes were to the audience and sometimes they would tuck the scarf in their belt, to represent a strong character, like a hero. Other times they would be storytelling and wrapped the scarf around their heads to represent an old granny telling a old story. I thought this was highly effective and a creative way of adding to a character. It made the transitions between characters simple and it only took minimal seconds to change the way they wore the scarves. As soon as they placed the scarf differently, the actors switched instantly and stepped into the shoes of the characters. It was clear that they didnt need a big costume change for you to imagine the character because using the scarf was just effective enough. For me, it seemed like one of those ideas that you would think why didnt I think of that because it was an unique way of changing character. Another way the actors used multi-role play was by how they used their voice and positioned their stance and posture. Each actors voice or stance was never the same. The pitch, tone, volume and accent changed every time to represent the different character. No character was similar in voice which made it clear to the audience who they were playing. For example, the male performer (Jimmy Whiteaker) played a narrator while wearing his scarf around his head. His posture was bent over like he was old and frail and his movement was slow and soft. His voice was in a welsh accent, which is a great story telling accent. His tone was soft but happy and uplifting and his facial expression was always in a smile with his eyes bright. Compared to his other character, Jason, this is a dramatic change. Jasons posture was always strong and upright with his head held high and his nose in the air. His movement and gestures were sharp and without regret or thought. And he spoke confidently, in a serious, bold tone and the pitch low and manly. Each actor changed all these qualities in their own way, to create a personality and traits for the character they were playing. Another way they used multi-role play was by using personal props. These props were very minimalistic but once again they were personal to the character they were playing. I thought all of the 3 actors did an amazing job of multi-role play and they have given me many ideas and inspired me to think more about my roles. READ: Catholism 19th century EssayThe set on the stage was very simple and minimalistic. This was definitely more of a quality to the performance than negative. It didnt look over the top and it didnt need to be. Splendid productions state on their website that Splendids powerful cast of three will show how an ancient story can resonate through time, and how the simplest of theatrical ideas can have a devastating impact. And this is exactly what they did, especially with the set. It was so simple yet creative at the same time and even though a rope was just placed in a square on the stage, once the actors stepped into that rope the whole atmosphere changed and thats what created such a devastating impact. The set represented Greek Theatre. It represented the Unities that the play was all in one day, one place and one story. It made the audience concentrate on the actors and appreciate what they were doing and how much of creative thinking had been put into the performance. What I thought was most effective about the set was that the audience was used as part of the set. Multiple times the actors came into where the audience was watching, and they were still in character. Other times they would interact with the audience. But the fact was, they knew the audience was always going to be part of the set however, we didnt. And thats what I thought was so interesting and using the audience really involved them and kept them interacted but also added a lot of symbolism to the story. The main piece of set was a thick rope shaped in a large square centre stage. The rope was the most used part of the set because inside of it the were playing a character and playing the scene. Yet outside of the rope, they were telling the story and being narrators. The minimal set was most effective and was more effective then it wouldve been with complicated set because it forced the actors to be creative and imaginative by miming etc. As they didnt rely on the set to do the job for them. The actors used choral speaking which is when actors speak at the same time. They did this when they introduced Ancient Greece. This was very effective as they changed their voice style a lot throughout and added a lot of humor to it and gestures which gave the audience a break from the seriousness and intensity of the storyline, broke up the story and kept them interested in the performance. It was in unison perfectly and in my opinion it was important that they added humor as it brightened up the performance. The actors performed this very clearly and loud. The actions during the song made it more effective as it added character to the performance and made it more interesting. Also, it involved the audience through laughter. Another reason it was effective was that it focused on the tragic elements of the story but these negative themes were not as harsh as they spoke boldly and humorously about it. The choral speaking had an interesting contrast between conversations and the formal narrative and without it I dont think the performance would have been as enjoyable because it was clear the choral speaking had a great lasting impact on the audience.

Question Essay Example | Topics and Well Written Essays - 750 words

Question - Essay Example Group or public plans come in handy to cut down on costs (Santerre & Neun, 24). Health care policies must be tailored to meet end consumer needs (Santerre & Neun, 24). Insurance contractors do not only contract out policies for access purposes only. The policies must establish a good tradeoff between access and quality and still control costs (Santerre & Neun, 24). Many policy givers often go for low cost plans when those seeking to be insured want to be assured of quality and strong preferences. Traditional health fee for services modes of operation were quite expensive and hence the reason for coming up of health care plans which are cheaper. However, the costs of premiums have been on the rise due to increased competition in the health industry (Santerre & Neun, 24). Adopting of new working guidelines by physicians ensures that quality standards of health care are maintained (Santerre & Neun, 24). It helps ensure that patients realize desired results. The expectations on the side of physicians have been raised and they must continually strive to meet requirements. Policies and methodologies adopted must strive to ensure that they foster a balanced workforce presently and in the future (Santerre & Neun, 24). The physician induced demand theory specifies that a physician should be able to induce a patient during treatment on the fact that the physicians possess more knowledge than the patient (Santerre & Neun, 24). Supply induced demand occurs where health care practitioners persuade patients to seek health care polices. The patients are persuaded to seek policies they would otherwise not have obtained were it not for them physicians. Theories regarding the supply-induced model are that they physician have too much information regarding the policies which they at times do not explain to the healthcare seekers. Some do this to their advantage at the expense of patients. Empirical consequences of the supply-induced demand are that demand for

Wal-Mart Case Study Example | Topics and Well Written Essays - 1250 words

Wal-Mart - Case Study Example Wal-Mart is envisioned to help people save their money so that they can live a better life. It has a reputation for convenience and wide range of products all in one store (marketingteacher.com, 2011). It is however, facing some threats and challenges like any other organization. Since it is number one, it means that it is the target of both local and global competition. Also being a global retailer, it is exposed to political problems in the countries it operates in. Intense price competition is also one of the major threats it is facing which has resulted in price deflation in some ranges (marketingteacher.com, 2011). Wal-Mart is world’s largest retailer and despite of its edge in IT, control of its empire could leave it weak in some areas due to its huge stretch of control. Since it has a large product diversity ranging from food to clothing to stationary, it may not have the flexibility of some of its more focused challengers. Although the company is global, it still has i ts presence in relatively few countries across the world (marketingteacher.com, 2011). 2. What priorities did Wal-Mart CEO Lee Scott set in his Wal-Mart: Twenty-First Century Leadership address (24 Oct 2005)?  ... Lee Scott set this commitment as one of his priorities and promised to abide by it. He also addressed his opportunities one by one, starting with the environment. He highlighted that by being one of the largest companies in the world, environment is their responsibility and environmental problems are their own problems. They can supply natural products such as fish, food and water only if the environment is safe and protected. This can be possible only if there is zero wastage and they are supplied by 100% renewable energy (Lee Scott, 2005). Another goal is the reduction of waste and this is one of their most visible opportunities. This can be achieved if the materials in the packaging are made up of recyclable materials. This can save them a lot of money and in turn help the environment (Lee Scott, 2005). Lee Scott’s another goal is built around the products Wal-Mart sells wherein customers should not make compromises when they buy products at Wal-Mart stores. Similarly, heal thcare and wages structure, community involvement or diversity are other areas which were emphasized by Lee Scott in his Twenty-First Century Leadership address (Lee Scott, 2005). 3. Wal-Mart’s Board discussed proposals to meet (some of) these challenges at a board retreat in 2005. To counter the challenges, the team proposed Wal-Mart to implement the nine limited-risk initiatives and five bold steps. The first initiative is to change the eligibility criteria for health insurance so that Wal-Mart becomes more competitive in the part-time labor market. The second initiative is to decrease cross-subsidization of spouses which would allow more dollars to be put towards Associates and their children. The third initiative is to provide information related to healthcare and health

Simple Network Management Protocol Essay Example | Topics and Well Written Essays - 500 words

Simple Network Management Protocol - Essay Example For instance, network operating on SNMP will be associated with three components i.e. managed devices, agents and network management system (NMS). A managed device can be any node configured with SNMP within the network. The primary task of these managed devices is to perform information management in order to publish the information on the NMS (Protocols guide: TCP/IP protocols: Application layer protocols: SNMP: Simple network management protocol. 2007). Example of managed devices includes routers, hubs, switches etc. Moreover, an agent is considered as an application that is installed in a managed device. In addition, an agent also translates information that will be compatible with SNMP. Furthermore, NMS publish information related to performance, power and any conflict that may occur between these managed devices on the network. Currently, there are three versions of SNMP, these versions share some commands and features that are described in the below table (Protocols guide: TCP /IP protocols: Application layer protocols: SNMP: Simple network management protocol. 2007): Management information base (MIB) is a component of SNMP that assist network engineers and managers to monitor the network functionality via interfaces. For instance, if an organization is developing a new application that will be administered remotely, the developer will integrate a MIB within the application. The MIB will illustrate information and variables for generating alerts (SNMP overview, n.d). Moreover, RFC1213-MIB is also referred as MIB 2, it is compatible with all SNMP agents that may operate on TCP/IP supported devices. The MIB-2 management group is essential, as SNMP supported devices must support MIB-2, in order to work adequately (A closer look at MIB-II (essential SNMP, n.d)). The MIB file hosts a sketch that is associated with the object hierarchy on the network device along with ID of the object i.e. OID, permissions and syntax for every single variable.  

Airport Article Example | Topics and Well Written Essays - 250 words - 1

Airport - Article Example The website shows the importance of a realistic airport design for purposes of safety, emergency and coordination of operations. The website insists on the importance of development as a measure of stability and growth (Federal Aviation Administration, 2009). The development of any small airport lies greatly on how it aligns its operations. This is with due respect to the overall management of finances through efficient public relations. The relations result in the trickling in of clients who have become regular’s as a result of the reliable service. It is clear that there is need to carefully foresee current and future problems in all airports. This is one sure way of ensuring that the operations run as smoothly as they are expected. The reality of how finances are applied in the airport is also defined as a crucial point. This is because if current finances are put to maximum use, then airport operations are enhanced. The website highlights the need to form a budget, and how to channel all the existing revenues to internal and external projects (Federal Aviation Administration, 2009). As a result of the nature of airport operations, the website also goes ahead to educate on aspects that should come into play when dealing with liabilities and insurance. In conclusion, the website greatly advocates for the need to ensure that airport designs, operations, developments and finances are in order for any airport which has a clearly set objective. Federal Aviation Administration (2009). Airport Cooperative Research Program (ACRP 16): Guidebook for managing small airports. Washington: Trb.org. Retrieved from

Health Promotion Package for Diabetes Essay Example | Topics and Well Written Essays - 2000 words

Health Promotion Package for Diabetes - Essay Example Health promotion can take varied forms, depending on the concerned groups or individuals. Different constructs of health and well-being exist. In the context of Edna, various constructs are applicable in enhancing her well-being and health status. The constructs are multi-perspective and addresses various health concerns highlighted in the case study. Most relevant constructs includes; Social model theory of health promotion remains addressed from different perspective. It does not focus on medical profession domain alone. The social model does not entirely rely on the medical model on addressing various health issues. A multi-perspective approach that includes all the individual experiences and defined places are taken into consideration in this approach. Principally, there is a correlation dynamic interaction between the social structures and the concerned human agency. In addressing the medical conditions of Edna, a multi-perspective social model can find use in efficiently remedying her health concerns. Psychological model differs from medical model from the test that confirms and qualify an individual as sick. While the medical model may require an independent test to determine a medical condition, psychological model relies mostly on the psychological examinations that do not involve medical tests. For the case of Edna, psychological therapy may help relieve conditions such as stress due to death of the husband. Psychological model relies more on the subjective manifestation of the condition rather than the objective determinants of a given condition. Medical model of disease management utilizes the scientific theories and doctor patient relationship in managing a disease condition. Independent objective test are carried to determine specific condition affecting an individual. The medical models rely on the use of medicine in the management of health. For the case of Edna, medical

The Threat of Fraud Assignment Example | Topics and Well Written Essays - 1250 words - 1

The Threat of Fraud - Assignment Example This causes considerable losses to companies and executives. Identity theft can be managed by ensuring stronger internal control and monitoring systems such as using the RCSA, encrypting sensitive data, and obtaining insurance for the executives. A workshop organized to sensitize executives on fraud would include a participatory and self-assessment session to monitor uptake of information by attendants.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Identity theft refers to the act of stealing or gaining another person’s identifying and personal information such as a social security number or credit card numbers by unauthorized means and using or having the intention to use the information fraudulently (van der Meulen, 2011). The first step in protecting executives would be to get insurance in the director and officer insurance form to cover against loss of wealth and associated assets. An executives signature can, for example, be used to fraudulently get a binding agreement with the company, which would be detrimental to the company such as using the executive’s identity to access credit lines, which are not approved. The company would need to ensure it and its and executives are under the Merchant Risk Council which is a group of over 7 800 merchants, financial institutions, law enforcement agencies and vendors who work together to enhance cyber frauds, for example, fi nancial institutions would have to call the company before processing a credit card application. Of course, improving cybersecurity at the business would be a viable step. Cybercrime occurs when three principal factors are present; opportunity, rationalization, and pressure as the fraud triangle shows.

United States Postal Service Case Study Example | Topics and Well Written Essays - 1000 words

United States Postal Service - Case Study Example While analyzing the ergonomic issues the paper mainly focuses on the ergonomic issues that have been addressed in the report. The research conducted method focuses on the methodology part of the report, that is how the required and relevant information about the study has been acquired and the approach that has been undertaken in fulfilling the objective of the study. The ergonomic issues: The report reveals the health hazards that are associated with the work performed at an organization. The ergonomists at the National Institute for Occupational Safety and Health (NIOSH) examined the ergonomic hazards that are associated with the particular work and whether that can result in musculoskeletal disorders. The report introduces the musculoskeletal disease that the employees are exposed to due to the kind of work they do. The report identifies the musculoskeletal hazards which arise from the repetitive movements of the upper limb of the employees working in the postal service organization. It not only identifies the problems associated with the work, but also focuses on the causes of the health hazards like forceful grasping of any tools or pinching anything with the help of the tool. For instance, the study reveals that the prolonged period of sitting or standing against a stool can aggravate the disorder. It also gives the measures of avoiding such hazards by suggesting ways such as tilting the seat pan or by maintaining the trunk in the neutral position. (Heta, 1993, p.4) The research Conducted: The research conducted is mainly based on primary observation of a specific ergonomic situation in a government organization. The report takes into account a case of the employees of the Denver general Mail facility. The health hazards has been analyzed and discussed in the paper. The paper identifies each kind of work that is being performed in the organization and what kind of health problems this might lead to. Hence an ethical dilemma also arises with respect to workplace. The paper adopts a case study based approach where a particular organization and situation has been identified and the discussion and recommendation revolves around it. The human resource aspect of the firm has been addressed in the paper. This is a discussion paper that takes into account several aspect of the issue, like the type of machines, the pace of work and other factors that are required in evaluating the situation properly. The paper after analyzing the problems recommends measures in avoiding those problems. The report also produces a comparative framework against working situations of the General Mail Facility (GMF) at Denver and Virginia. (Heta, 1993, pp.5-8) The Findings and recommendations: The findings of the paper revolve around the musculoskeletal disorder that the employee has to face as a res ult of their sitting postures and standing postures while working. In case of mail casing it has been found out that the work needs repetitive operations hence the organization has rightly provided the workers with the tilt chair facility. The report notes that the sit and stand stool provided to the employee rightly serves the purpose as it can be adjusted and accommodated accordingly. The report reveals that the works which are associated with the automatic mail processing machines requires frequent stooping which puts the employees in the danger of low back injury, hence a height size has been recommended to avoid the problem of low back

Shaping Special Education Essay Example for Free

Shaping Special Education Essay The history of American special education has taken a long, ever-evolving journey to get to the place it is today. Marilyn Friend (2008) discusses how in the early twentieth century students were still not accepted into public schools. Students who had physical or mental disabilities were placed into separate classes, made up entirely of students with disabilities. Throughout the first half of the twentieth century students with a wide range of disabilities were enrolled in special education classes. Over the past century, various court cases have defined how special education has changed. In 1954, the Brown v. Board of Education, gave way to questions about whether or not separating special education students from the general education population was appropriate or not. Some people believed that taking students out of the classroom gave them a label for their disability and therefore was discriminatory towards students, rather than helpful in providing services they needed to make them successful. (Friend, 2008, p. 47) Not only did educators become advocators for children’s with disabilities, so did parents. The Mills v. Board of Education (1972) sparked the determination of providing special education services for students. In response to various lawsuits against the Board of Education legislation created mandates to ensure the rights for students with disabilities. Structure of Special Education Parents continued to push for the rights of children, as well as congress. The Elementary and Secondary Education Act of 1965 were laws that provided funding to states to assist them in creating and improving programs and services for children with disabilities. The Education for All Handicapped children Act in 1974 was created to allow full educational opportunities for students with disabilities. In 1986, the federal special education law was changed to include services for infants and young children. (Friend, 2008, p. 49) In 1990, the Education for All Handicapped Children Act was changed to Individual with Disabilities Act (IDEA) and more disabilities were added. The most recent change was in 2004 when provisions were added to help resolve disputes between parents, as well as the requirement for student instruction to be taught using evidence-based practices. Federal law forced educators to change their view of special education students and how to best serve their needs in the school environment. Also in 2004, President Bush and Congress wanted IDEA to align with No Child Left Behind Act of 2001 so that schools would be held accountable for making sure students with disabilities achieve high standards (Friend, 2008, p. 68). Jill Hockenbury (2000) pointed out that special education is a key part of the public education system but that there are still challenges in special education today. Critical changes that are needed in special education include constructing a defensible philosophy of education, providing effective and intensive instruction, and improving the quality of teacher training. These changes are still being worked on today. The needs of children today are demanding that teachers provide effective instruction, that’s meaningful and allows the teacher to reach all levels of development in one classroom. Trends and Issues Quality teacher training is also one of the biggest challenges facing special education and relates directly to a key topic heard a lot about in special education, which is inclusion. Inclusion centers on the belief that students with a disability should be allowed to be a part of the general education classroom. However, inclusion is difficult because of the requirement of the general education teacher. The general education teacher should be able to meet the needs of the students in his or her classroom, which can be difficult depending on the students needs. However, inclusion states that students should be in the classroom full time, receiving instruction the same as non-disabled peers, and there should be no need for pull-out. In some cases, members of a child’s IEP team may not agree on the appropriate environment for a student. With increased opportunities for teachers to have training with research-based methods and strategies, this area should be able to improve in the future. Researchers have stated that inclusion is beneficial to both students with disabilities, and those without disabilities. A study done investigating perceptions of learning of nearly 5,000 kindergarten students through 12th grade revealed that students with disabilities wanted to learn the same material, use the same books, and enjoy the same homework and grading practices as typical peers. (Friend, 2008, as cited in Klinger and Vaughn 1999) Other trends in special education include universal design for learning and differentiation. Universal design for learning (UDL) is the instructional approach that students with disabilities should have access to the curriculum. Along with UDL is the use of differentiated instruction (or differentiation) to explore the concepts of UDL further. Differentiation means that within one environment, students with multiple needs will have their needs met through various ways. UDL and differentiation should be utilized by general education teachers to meet the needs of their special education student. (Friend, 2008, p. 77) These trends are all key concepts in the world of special education. They all impact the way special education teachers should teach to meet the needs of all their students. Pat Beckman (2001) reiterated this fact stating that â€Å"improved student learning requires teachers, schools, and districts to give up unproductive traditions and beliefs, replacing them with validated practices and a full understanding of the intent of the law. † IDEA requires teachers to use â€Å"programs, interventions, strategies, and activities† that are researched based. (Friend, 2008, p. 63) As the needs of students increase, the resources provided need to increase, which is the responsibility of those providing the education. Special education has come very far since placing disabled students in their own separate classroom, but it still has a long way to go. There is much to be said about meeting the needs of special education students and reaching those administrators, parents, and educators who still do not have a full understanding of inclusion. References Beckman, Pat (2001), Access to the general education curriculum for students with disabilities, Council for Exceptional Children, retrieved May 28, 2012 from http://www. cec. sped. org/AM/Template. cfm? Section=HomeTEMPLATE=/CM/ContentDisplay. cfmCONTENTID=5519 Friend, M.(2008). Special education: Contemporary perspectives for school professionals. Boston, MA: Allyn Bacon. Hockenbury, J. C. , Kauffman, J. M. , Hallahan, D. P. (2000). What is right about special education. Exceptionality, 8(1), 3-11. Obiakor, F. E. (2011). Maximizing access, equity, and inclusion in general and special education. Journal Of The International Association Of Special Education, 12(1), 10-16. U. S. Department of Education (2007) Thirty Years of Progress in Educating Children With Disabilities Through IDEA, retrieved May 28, 2012 from http://www2. ed. gov/policy/speced/leg/idea/history30. html.

Debt and Trial Balance Essay Example for Free

Debt and Trial Balance Essay DRIVE PROGRAM SEMESTER SUBJECT CODE NAME BK ID CREDITS MARKS ASSIGNMENT WINTER 2013 MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2/ PGDBAN2 1 MB0041 FINANCIAL AND MANAGEMENT ACCOUNTING B1624 4 60 Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme. Q. No Questions Marks Total Marks 1 Give the classification of Accounts according to accounting equation approach with its meaning and examples. Compare the traditional approach with modern approach of accounting equation approach. Analyze the transaction under traditional approach. a. b. c. d. e. f. g. h. 20. 1. 2011 Paid salary Rs. 30,000 20. 1. 2011 Paid rent by cheque Rs. 8,000 21. 1. 2011 Goods withdrawn for personal use Rs. 5,000 25. 1. 2011 Paid an advance to suppliers of goods Rs. 1,00,000 26. 1. 2011 Received an advance from customers Rs. 3,00,000 31. 1. 2011 Paid interest on loan Rs. 5,000 31. 1. 2011 Paid instalment of loan Rs. 25,000 31. 1. 2011 Interest allowed by bank Rs. 8,000 Classification of accounting equation approach with meaning and examples Analysis of transaction –with accounts involved-nature of accountaffects and debit/credit 2 4 10 6 The following trial balance was extracted from the books of Chetan, a small businessman. Do you think it is correct? If not, rewrite it in the correct form. Debits Stock Purchases Returns outwards Rs. Credits 8250 Capital 12750 Sales 700 Returns inwards Rs. 10000 15900 1590 Discount received Wages and salaries Rent and rates Sundry debtors Bank Overdraft 800 2500 1850 7600 2450 Discount allowed Scooty Carriage charges Sundry creditors Bills payable 800 1750 700 7250 690 Journal entries of all the transactions Conclusion 3 6 10 4 From the given trial balance draft an Adjusted Trial Balance. Trial Balance as on 31. 03. 2011 Debit balances Furniture and Fittings Buildings Rs. Credit balances Rs. 10000 Bank Over Draft 16000 500000 Capital Account 400000 Sales Returns 1000 Purchase Returns 4000 Bad Debts 2000 Sundry Creditors 30000 Sundry Debtors 25000 Commission Purchases 90000 Sales Advertising 20000 Cash 10000 Taxes and Insurance 235000 5000 General Expenses 5000 7000 Salaries TOTAL 20000 690000 TOTAL 690000 Adjustments: 1. 2. 3. 4. 5. Charge depreciation at 10% on Buildings and Furniture and fittings. Write off further bad debts 1000 Taxes and Insurance prepaid 2000 Outstanding salaries 5000 Commission received in advance1000 Preparation of ledger accounts Preparation of trial balance 4 6 10 4 Compute trend ratios and comment on the financial performance of Infosys Technologies Ltd. from the following extract of its income statements of five years. (in Rs. Crore) Particulars 2010-11 2009-10 2008-09 2007-08 2006-07 27,501 22,742 21,693 16,692 13,893 Operating Profit (PBIDT) 8,968 7,861 7,195 5,238 4,391 PAT from ordinary activities 6,835 6,218 5,988 4,659 3,856 Revenue (Source: Infosys Technologies Ltd. – Annual Report) Preparation of trend analysis Preparation of trend ratios 4 Conclusion 5 4 10 2 Give the meaning of cash flow analysis and put down the objectives of cash flow analysis. Explain the preparation of cash flow statement. Meaning of cash flow analysis Objectives of cash flow analysis 3 Explanation of preparation of cash flow analysis 6 2 10 5 Write the assumptions of marginal costing. Differentiate between absorption costing and marginal costing. Assumptions of marginal costing (all 7 points) 4 Differences of marginal and absorption costing (Includes all 8 6 points) 10

Wireless Mouse: History and Types

Wireless Mouse: History and Types Introduction Mouse is an input device for computer and it is used to access or run on the computer screen, without mouse we cant move cursor or arrow on the screen, without mouse we cant open, close, there is no such thing or device to replace instead of mouse. In this wireless mouse technology is now running in present world and wireless mouse works with Bluetooth connection and it uses battery power, battery power withstands longtime minimum period of one year and mouse consumes less power in it, in wireless mouse Bluetooth slot is present without losing transmitter. Mouse are of different types: Wire mouse Wireless mouse Touchpad mouse Key contributors: First mice were invented in the year 1944 by Ralph Benjamin and he was invented for the purpose for the fir control radar at world war II. Mouse was conceived by Doug Engelbart in the year 1960. The Engelbart thought up this idea in 1961 and first prototype mouse was created by English in 1964. (4) Engelbart English approached NASA for fund further research and to determine which input device is best for controlling cursor. In the year 1967 Bill English was analyzing the results of the various characteristics of input devices, Periodic table of the elements which has characteristics to define groups along rows and columns, periodic table is the main led to discovery of certain unknown elements, this defined the characteristics of a device that didnt exist before. That device was the mouse, (1) http://www.todayifoundout.com/wp-content/uploads/2016/03/canadian-mouse-340259.jpg The cursor was controlled by a simple mechanism using joystick that Benjamin after thinking and he came up with roller ball and it functions alike to the standard mechanical mouse. Roller ball was coated with rubber and it contacts to the sides of the rollers, rollers can turn in x y directions and that movement was transfer in to proper movement of pointer on screen. This device gave birth to the mouse. First developed: First prototype was developed by Bill English, and kept secretly without knowing outside of the world. Bill English Engelbart approach NASA for further research to get best results. (1) (5) http://www.superkids.com/aweb/pages/features/mouse/mouse.gif Mouse has only two directions to move freely i.e; X and y directions.After few inventions from mechanical mouse, ball mouse was replaced with single ball it can rotate in all direction when compared to mechanical mouse moves only in x and y directions. This version of mouse was changed the entire world later it became the predominant form ans used with personal computer throughtout 1980s and 1990s.(1) Mouse Mechanism http://www.madehow.com/images/hpm_0000_0005_0_img0035.jpg Mouse works with the help of roller ball and ball moves forward and backward direction with the help of diode motion was detected and transforms the motion onto the screen, there is special software to detect the motion of the roller ball and translate the motion on to the screen. Roller ball is used to control the cursor on the graphical user interface on screen, vertical wheel and horzontal wheel are used to move cursor from one point to another point on screen, roller ball has three guides which are used to guide the ball without getting out from the instrument while operating the mouse, the motion of the rollers sends electrical signals to the computer and software is used to convert signals in to user interface i.e; cursor.Mouse connects directly with the help of wire. The basic mouse has one button. http://www.iphone-tips-and-advice.com/image-files/apple_desig_one_mouse_button.jpg The single button has name LISA MOUSESingle button was first introduced by apple company in the year 1983 and material is steel and it was used until 2000.This design was not changed for almost 20 years due to it compact design, for this design they have done a lot of research to get final product, it was acctually designed and renamed by IDEO in 1991. Lisa mouse was failed due to it technical reasons, after that they changed and introduced The Macintosh Mouse material is used is rubber. After this apple introduced two more designs and it doesnt take any effect. (2) https://i0.wp.com/512pixels.net/wp-content/uploads/S3/2012-11-27-mighty.jpg?w=640 In 2005 apple introduced new product witout using mechanism and the name of the product is The Mighty Mouse after 22 years of strugulling they succeded in this product and it works good, the mouse body respond to the click.(2) Wireless Mouse: Wireless mouse or Optical mouse was first demonstrated by two independent inventors in 1980s by John Markoff Sol Sherr, it uses a infrared led and a four-quadrant infrared instrument to detect grid lines in pattern with infrared engrossing ink on a special metallic surface. (Optical Mouse.En.wikipedia.org.N.p.,2017.web.23 Mar.2017.) Optical mouse or wireless mouse uses a light source to detect movements relative to surface, it is different from mechanical mouse, in optical mouse moving parts are not present. https://commons.wikimedia.org/wiki/File:Microsoft-wireless-mouse.jpg Wireless mouse consist of transmitter, reciever, battery, and reciver can be placed behind the battery inside the mouse. The reciever is connected to the computer and transmitter is inbuilt in side of the mouse, reciever and transmitter uses radio frequency to communicate each other to transfer signals from both sides and it is a continous process, if battery power drainsout we need to replace or if the battery is rechargable we need to charge before using. Functions of mouse:- Left click Single click Double click Click and hold Right click Scroll wheel Navigation or Sensor Left click is used for selecting options in left click or button there are three options in that single click is used to highlight folder or selecting the particular tab while browsing web. Double click is used for opening folder, selecting words, opening documents in that folder. Click and hold is for copying files from other sources in to the particular folder, copying images into word documents, highlight the words, drag and drop in web browsing, copying files from usb to pc. Right click is mainly for shortcuts for new folders, new ms office files, for documents or folders right click is to open,edit,rename,cut,copy,delete,properties.This functions are highlighted in that particular button or click. Scroll wheel is used to scroll page up down, zoom in zoom out in maps,images, in some applications scroll wheel is also used to exit particular command i.e; creo software. Navigation or sensor is nothing but identifying where cursor or pointer is located. Sensor identifies the location of cursor or pointer. Touch pad: Touch pad was first introduced by Olivetti and Triumph-Adler in 1992, after that Cirque corporation was developed and commercilaized the touchpad and it was used commonly for various products like notebook and computers. Cirque corporation branded as Glidepoint in 1994, Glidepoint wass the first technology adopted in the notebook omputers as system pointing devices, it performs the same as mouse. Glide point technology reconiged as one of six best products on cover Best products of 1994. PC Magazine 10 january 1995. (3) Apple announced touchpads to powerbook series in the year 1992.(3) http://netdna.webdesignerdepot.com/uploads/2009/01/powerbook_100_pose.jpg Touchpad works two types of working principle, conductive sensing and capacitive sensing. Conductive sensing has two layers one is horizontal and vertical set of wires between two layers there are low conductive material is used for intersection and doesnt flow electricity between these layers. Capacitive sensors detect anything is conductive and it has two parts one is ground and other is sensor. Capacitive sensor is the most common sensor is widely used in everyday life. https://i.stack.imgur.com/CBxTN.jpg when we touch the two layers by using finger for contact to each other at a point and the point gets coordinates and coordinates sends to the system. Functions of touchpad is like mouse; relative motion enables us to move our finger across the surface of touchpad and moves cursor on screen. Under the touchpad two buttons are present and it was like the mouse buttons and it functions same as mouse clicks i.e.; left button, right button. Mouse has scroll wheel and in touch pad it doesnt provide in it, instead of that in touchpad there is an option of hotspot which enables the scroll wheel function in touchpad, there is an option in hotspot like, one finger, multi finger, additional. One-finger there are different option tapping; button, left click, right click; drag and drop. Multi-finger there are zooming; scrolling; rotation; three-finger; four-finger. Additional there are palm tracking; sensitivity; smart motion. Future: Touchpads are replaced with virtual reality, we can control everything on screen using our finger and we no need any physical contact to the object or product, and we can virtually move anything on screen. In future, we cant see mice due to virtual reality is useful for bright future. Mice transforms from mechanical to electrical from past to present, further we can see virtual reality. Virtual reality is the latest technology. Bibliography Battery optimization for mouse technology. Engineering research and applied science 5(1).2147-3471 (2016): 328-331.web. AppleS Mouse: A history -512. 512pixels.net N.p., 2017.web. 30 Mar.2017. First laptops with touchpad as mouse replacement?. Vintage computer forum. N.p., 2017. Web.30 Mar.2017 Father of The Mouse: Doug Engelbart. An Exclusive Interview in Superkids Software Review. Superkids.com.N.p.,2017.web.23 Mar.2017. Smallwood, karl. who invented The computer Mouse?. Today I Found Out.N.p., 2017.web. 26 Mar.2017.

The Use of Educational Software in the Classroom :: Education Teaching

The Use of Educational Software in the Classroom It is no surprise that technology is expanding every minute of every day. That would mean it should not be surprising that computers are becoming part of an everyday classroom. Middle Schools and High Schools have been using computers in a certain classes for years, but is it expected that children in kindergarten through 5th grade will be using computers also? It seems strange to think those children 11 and under are using a computer in the classroom on a daily basis. Yet it is true. Children in Elementary School are learning basic computer skill and putting them to work in order to learn things. Children are learning things from math to art on a computer. Is this necessary for such small children to become overwhelmed with? It is really decided by the child. Certain children learn faster then others. A computer is not an easy thing to learn. It may be believed that putting a child into a class that uses computer software gives them the basic skills needed to understand a computer. But having only nine months in a classroom, how long does it take for the child to catch on to the program? It varies between children. One child may take only a few minutes or hours of instruction of how to use the program, while another child may take days or weeks. This causes problems on the progress of the class. Are we supposed to separate the slow learners? Of course not, if we did that, as they get up to speed they are stuck learning slower. Does this mean that we should not use computer software in the classroom? No, it just means the use of software in the classroom has to be considered with the period of time you have to accomplish what needs to be done. What types of educational software are used? Well although there are many different types of computer software out there it is common that particular ones are chosen. Harford County Public Schools have been using the program â€Å"Kid Pix† often in the past two years. Although this is not the only school system that uses the Kid Pix software, it is an example that is close to home. Kid Pix is made by Broderbund a huge educational/entertainment software maker.

A Clean Well-Lighted Place Essay -- A Clean Well Lighted Place Ernest

A Clean Well-Lighted Place A Clean, Well-Lighted Place by Ernest Hemingway looks at age from the viewpoint of an inexperienced and experienced individual, with the aid of an old man to emphasize the difference between the two. This story takes place late one night in a caf. The caf is clean, pleasant, and well lighted, which brings some kind of comfort to the atmosphere. Here in the caf sits a deaf, lonely, older man, who although is deaf can feel the difference that the night brings to the caf, a younger waiter, who believes people stay around the caf to make his life miserable, and a waiter who is a bit older and seems to understand that this place, the caf, is comforting. The older man spends his late nights in the caf, because at his home there is nobody, he is widowed. All he has is the comfort that the light inside the caf brings to him at night, and the appearance and thought of other human beings may bring him. The old man is under the care of his niece, who last week had to cut him down from his attem pting to commit suicide. Why did he attempt to kill himself? He was in despair. Stated one waiter, and I am assuming it is the younger waiter because he goes on to state that he was in despair over nothing because he has plenty money. Money would be the answer to any problem to an individual of youth because when one is younger he/she has not yet come to realize the importance of relationships. The older waiter shows us the importance of relationships by stating, Each night I am reluctant to close up because there may be some one who needs the caf. This appearing to mean that he knows that there are many lonely people in the world without relationships and no one to turn to in time of need or having some one to just be ... ...per meanings. Looking at my critical approach New historicism and comparing it with my piece A Clean Well-Lighted Place, only from the point of view of a new historicist without doing any additional research into the ties or times of the author I believe I have a well understanding of what it means to be a new historicist and how it applies to my piece that I have chose. I tend to think that knowing more about Hemingway and the life he led might give me a better understanding of his reasons for writing A Clean Well-Lighted Place. The meaning of Hemingways piece also will differ greatly across cultures and how it is a particular society looks at the differences in age and communication factors. . Work Cited Hemingway, Ernest. A Clean Well-Lighted Place Literature Reading and Writing The human Experience. Donna Erickson. New York: St. Martins press, 1998. 115

Childrens Literature and the Holocaust Essay -- essays research papers

Children’s Literature and the Holocaust During the 1940’s Jewish Europeans experienced an unthinkable and atrocious collective trauma. In her work â€Å"Survivor-Parents and Their Children† taken from the anthology Generations of the Holocaust, Judith S. Kestenberg has argued that regardless of location, the effects of the Holocaust are felt on survivors parenting. The children of survivors receive a secondary traumatic impact by being forced to deal with the impact the Holocaust had directly on their parents. The novel Briar Rose by Jane Yolen is an example of a Holocaust survivor sharing her experiences through a fictionalized tale made for young adults. Some may believe that a traditional, educationally focused history source or a first hand account from a survivor is the best way to inform children about the Holocaust. It has been discovered through research of survivors and their families that first hand accounts passed down from parent to child are traumatizing. However, history books are ineffecti ve because people are turned into statistics, thereby trivializing the terror of the Holocaust. This essay argues that a fictional style of storytelling or literature is the best way to inform children and adolescents about the Holocaust. Witnessing is important, however, there is no educational value in traumatizing children; it is better to use literature that explains the Holocaust at a level children and young adults can handle. Milton Meltzer, author of Never forget: The Jews of the Holocaust discusses the importance of witnessing: â€Å"To forget what we know would not be human. To remember (it) is to think of what being human means. . . Indifference is the greatest sin. . . . It can be as powerful as an action. Not to do something against evil is to participate in the evil† (Sherman 173). Meltzer gives the straightforward conclusion that people must be educated about the Holocaust because to remain silent about it is just as bad as playing a role in persecuting Jews. This conclusion also gives the rationale for teaching children about the Holocaust. But more specifically, why else may witnessing be important and what are the drawbacks of witnessing? Despite the logic and seemingly usefulness of witnessing, it can be a traumatic experience fo... ...sues at a level young adults can relate to, the characters, although emotionally provoking, are distanced enough that the young readers are not traumatized. Works Cited Eskenazi, Joe. â€Å"Historian’s WWII Book Sanitizes History for Youth.† Jewish Bulletin. 105.50 (2001). Hirsch, Marianne. "Projected Memory: Holocaust photographs in Personal and Public Fantasy" Machet, M.P. â€Å"Authenticity in Holocaust Literature For Children.† South African Journal of Library & Information Science. 66.3 (1998): 114-22. Sherman, Ursula F. â€Å"Why Would A Child Want To Read About That? The Holocaust Period in Children’s Literature.† How Much Truth Do We Tell the Children?. Ed. Betty Bacon. Minneapolis: MEP Publications, 1988. 173-184. Walter, Virginia A., and Susan F. March. â€Å"Juvenile Picture Books About the Holocaust: Extending the Definitions of Children’s Literature.† Publishing Research Quarterly. 9.3 (1993): 36-52. Generations of the Holocaust. Ed. Martin S. Bergmann and Milton E. Jucovy. New York: Basic Books, Inc., Publishers, 1982. â€Å"The Holocaust In Fiction; Naming The Unnamable; Morality In Literature.† Chronicle of Higher Education. 48.19 (2002)

Ethical Issues on Confidentiality Essay

Ethical Issues on Confidentiality: Research and Medical Procedures A guiding principle followed by most administrators and health care providers is the concept that ethical principles must match the values of the whole organization. This belief should serve as a continuous teaching to all staff so that the organization’s goals may be uniformly achieved. Healthcare administrators must be fully competent in adhering to the ethical principles of patient and employee confidentiality in order to promote trust, respect, and the protection of individual’s rights concerning health information. This is one of the main objectives of the Privacy Rule or HIPAA, and a breach to this rule is one of the most common ethical issues. When administrators demonstrate capable ethical decisions in guiding the flow of services in the organization, there may only be a few disorders that will be encountered in the operations as a result of ethical perplexities. In the article, Ethics of Stem Cell Research (Siegel, A., Stanford Encyclopedia of Philosophy, Spring2013), the ethical dilemma of confidentiality in research pales in comparison to the dilemma posed in destroying human embryonic cells. A great dispute is presented on the use of human embryos and whether researchers are dealing with a human being or not. The question on the permissibility or the impermissibility to destroy human embryos is fully explored without the full ethical answer being presented. Confidentiality, research, and medical procedures all impart ethical dilemmas that complicate organizational activities. Problems of the Affected Population: Patients and Participants In the procurement of embryotic cells for example, research subjects are not considered the same way as patients and regarded differently in terms of confidentiality and privacy issues. According to the article, HIPAA, the Privacy Rule, and Its Application to Health Research (2009), â€Å"Health research is not the focus of HIPAA.† and, â€Å"Because a great deal of health research in the United States is also subject to the Common Rule- the federal rule that governs most federally funded research conducted on human beings and aims to ensure  that the rights of human subjects are protected during the course of a research project, historically focusing on protection from physical and mental harm by stressing autonomy and consent.† (HIPAA and Research, Beyond the HIPAA Privacy Rule: Enhancing Privacy, Improving Health Through Research, 2009). Many research institutions are not considered covered entities and therefore the subjects are not covered by the Privacy law. Nevertheless, all subjects must submit personally identifiable health information and in the course of research or procedure, a subject may be harmed. This is an uneven application of confidentiality and the Privacy law that gives more benefit to a patient than a research subject. Medical research in particular has a participant and some experimental procedures are accomplished with the patient as the subject in the belief that the experiment could bring positive results to the patient specially, when there is no definite answer to a needed treatment. According to Fremgen B.F. (2009), ethical issues arise when there is harmful effect to the patient from experimental procedures. Lack of understanding and communication remains a big barrier to ethical issues. Somehow the creation of the Privacy Law did not consider the welfare of the research subject, yet they are likened to a patient who undergoes procedures, submits identifiable health information, and when procedures are not perfect, may also suffer harmful consequences. The other bothersome issue is when the bodily parts contributed by the participant are sold, reused or endorsed to other institutions for other purposes. Other issues pertain to the interest of the researcher placed above the interest of the patient (B.F.Fremgen2009). Informed and voluntary consent from participants are used as shield in order to further the research activities, but privacy and confidentiality are both compromised on research participants and must also be incorporated. Proposed Solutions In California, where the biggest budget for stem cell research is allocated, the California Institute of Regenerative medicine (CIRM) in their objectives has encouraged institutions and researchers on the development of best practices in hSC projects. Institutional Review Boards (IRBs) at each research institution must be responsible for the proper review of projects involving human participants. The regulations of the CIRM implies that donor  consent must be understood fully by the participant, maintain a clear record of every embryo, strict accounting of donated cells, and must always be consistent with existing laws. In fairness to the donor, any medical complication must be treated fully, and the donor must not bear any cost for any treatment (G.P Lomax, Z. Hall, B. Lo, Responsible Oversight of Human Stem Cell Research: The California Institute for Regenerative Medicine, 2007) The foundation for all procurement of biological materials can be summed in informed consent. Authorizations and voluntary consent must be explicitly understood by the donor and must be presented with choices they can understand including the information regarding the destruction of the cells, commercial application and sharing (L. P Knowles, Issues in Procurement of Embryonic Stem Cells: Informed Consent and Conflict of Interest, n.d.) Information management system must be in place for protection of confidentiality. In most instances, the system must protect the anonymity of the donor to safeguard privacy. There will always be people who would donate biological materials for their own reasons beyond ones understanding. These individuals must be informed fully of the consequences and possible risks. In some places, inducement of monetary consideration is prohibited. However, there are instances when the donor sincerely commits to help in exchange for some requirements like burial assistance when deemed terminally ill. Ethical issues and personal choice of the donor must be taken into consideration at all times and the option to donate must be free from pressure. In some parts of the globe, there are ads roaming related to procurement of organs from individuals who are impoverished and destitute. The government and the public must be vigilant in exposing this black market trade of organ trafficking so as to safeguard the dignity, confidentiality, and humanity in general. The mainstream media must be cooperative in relaying to the public not only the positive implications of medical research but also the contrary, so that that knowledge and understanding of present scientific advancement and problems may be learned. The Administrator and Ethical Issues An administrator who is engaged in a healthcare institution where research activities are occurring commits to a heavier burden of maintaining the place for it to be free of ethical issues. Aside from the issue of  patient care, privacy, lack of resources, maintaining regulations, and promoting goodwill, the needed knowledge on the requirements or regulations on research must be understood. The administrator must be adept at ethical analysis and organizational policies. Many have not been through a lot of experience related to research institutions but according to Fremgen B. F. (2009), â€Å"Adherence to bioethical principles involves the entire healthcare team, not just the physicians† (pg. 251). The ethics of the institution must be in accord with the staff and conflicting values should not prevail. The administrator must know how to initiate educational sessions and communicate the ethical values even with the integration of research and experimental procedures. References Siegel, A. Ethics of Stem Cell Research, Stanford Encyclopedia of Philosophy, rev. Jan 28,2013 Retrieved from: http://plato.stanford.edu/entries/stemcells/#EthDesHumEmbForRes Knowles, L.P. Issues in Procurement of Embryonic Stem Cell: Informed Consent and Conflicts of Interest, Retrieved::http://www.stemcellnetwork.ca/uploads/File/whitepapers/Inf Consent-and-Conflicts-of-Interest.pdf Institute of Medicine (US) Committee on Health Research and the Privacy of Health Information: The HIPAA Privacy Rule; Nass SJ, Levit LA, Gostin LO, editors. Washington (DC): National Academies Press (US); 2009.Retrieved from: http://www.ncbi.nlm.nih.gov/books/NBK9573/ Lomax GP, Hall ZW, Lo B (2007) Responsible Oversight of Human Stem Cell Research: The California Institute for Regenerative Medicine’s Medical and Ethical Standards.Retrieved http://www.plosmedicine.org/article/info%3Adoi%2F10.1371%2Fjournal.pmed.0040114 B.F. Fremgen, Medical Law and Ethics (Third Ed. 2009)