Analysis a relationship about economic Statistics Project

Analysis a relationship about economic - Statistics Project Example The money in supply and inflation rate is always interconnected because a high amount of money in supply usually devalues demand for money. For instance, in a small town if all residents were to get $50 raise in their salary each month, if they were paying about $14 on their gas, then with the rise they will likely not mind paying $15 given the fact that it is relatively less than what they normally spent on gasoline per week. In most cases, this is normally how the relationship between inflation and money often starts, when the market is able to bear high prices due to increase in the money supply (Mishkin, 40). Therefore, most customers will most likely opt out of buying a product at the same price it was before the inflation occurred simply because the buying power of the currency has been worn out. The graph above shows the estimated value of the relationship between inflation and money growth. The rate of inflation depends on the amount of money in supply. When one takes into consideration the classical theory, money does not affect real variables but has an effect on nominal variables such as inflation. This, therefore, means that when plotting the graph, the rate of inflation will be plotted on the y-axis while the supply of money will be plotted on the x-axis. The blue dots are the actual values while the red line shows the fitted values. In the long run, the correlation between money and inflation is rather high and can be estimated to almost one. However, when the short term period is taken into consideration, the relationship between money and inflation is rather weak which could be an attributing factor as to why the curve showing the relationship between money and inflation is not straight. Several economic theories can be applied in order to try to explain the relationship between money supply and inflation. If one were to use the quantity supply theory, also refers to as monetarism, the relation between money in supply and

The political atmosphere which influenced the Russian avant garde Essay

The political atmosphere which influenced the Russian avant garde - Essay Example This research paper examines that young artists from Russia decided not to be influenced by literature and painting, rather by the various political movements. Many artists from Russia attended lectures held by Marinetti as they had admiration for Italian futurism. In the years 1908 to 1909, there were various Golden Fleece Markets and some notable artists had their works shown. They included Mikhail Larionov and Natalia Goncharova who promoted scenes that were primitive as well as robust. Later on, during the exhibition known as ‘Donkey’s Tail’, Larionov and Goncharova proved that they could make sure that Russian painting was modernized. At the same time, these two artists were critical and independent concerning western culture. In conclusion, Larionov published the ‘Manifesto of Rayonism’, which had information regarding artistic theories that were new. They were known as synthesis of Orphism, Futurism and Cubism. Larionov was inspired by the scie ntific discovery of ultra-violet rays and radioactivity, thus obtaining the name Rayonism. The Rayonism movement was popular in the western part of Europe from 1913 to 1914. Moreover, in the year 1917, while in Rome, it was zealously taken up and unfortunately, did not survive during the war. In turn, Larionov went to France and worked on the Ballets Russes. This shows that the avant garde in Russia affected many artists and the manner they carried out their work.

Report on Robi Introduction Essay Example for Free

Report on Robi Introduction Essay Robi, formerly known as Telekom Malaysia International (Bangladesh), commenced its operation in 1997 under the brand name Robi among the pioneer GSM mobile telecommunications service providers in Bangladesh. Later, on 28th March, 2010 the company started its new journey with the brand name Robi. About our Shareholders: Robi is a Joint Venture company between Axiata Group Berhad (70%) and NTT DOCOMO INC. (30%) Axiata Group Axiata is one of the largest Asian telecommunication companies focused on high growth low penetration emerging markets. The Group, including its subsidiaries and associates, has over 130 million mobile subscribers in Asia and serves the needs of Asia by providing affordable and innovative mobile services covering over 1. 5 billion people across 10 countries. The Group provides employment to over 25,000 people across Asia. NTT Docomo NTT DOCOMO is Japans premier provider of leading-edge mobile voice, data and multimedia services. With more than 56 million customers in Japan, the company is one of the worlds largest mobile communications operators. Building on a solid foundation of research and development, and guided by its customer-first philosophy, the company leverages the power of mobile communications to enable customers to enrich Page 1 of 5 Miscellaneous Policy Robi Axiata Limited HR Policy Manual Proposed By : Chief Human Resources Officer Approved By: Management Council Effective : 01 July 2011 Version : 01 Document ID: RAx/HR/001/11 their lives. DOCOMO is expanding its global reach through offices and subsidiaries in Asia, Europe and North America, as well as strategic alliances with mobile and multimedia service providers in markets worldwide. Our Purpose WE EMPOWER YOU: We are there for you, where you want and in the way you want, in order to help you develop, grow and make the most of your lives through our services. Our Guiding Principles and Code of Conduct Maintaining the highest ethical standards and integrity in our operations is a crucial factor at Robi. Therefore we have introduced our Guiding Principles that we expect our employees to embed in their minds and uphold in discharging their responsibilities. Our Code of Business Ethics safeguards our ethical standards by clearly defining our way of working. With such systems in place we ensure that we do business with a conscience and safeguard our employees from exploitation. We expect our employees to exemplify the guiding principles in their work and regulate their actions by the stipulations in the Code of Conduct. Robi employees hold themselves accountable to a set of Guiding Principles for the organization. Our Guiding Principles are at the core spot of our action†¦ action that will empower us to achieve excellence! No matter what we do, in order to realize our purpose, we hold ourselves accountable to the following overarching guiding Principles for our rganization: Page 2 of 5 Miscellaneous Policy Robi Axiata Limited HR Policy Manual Proposed By : Chief Human Resources Officer Approved By: Management Council Effective : 01 July 2011 Version : 01 Document ID: RAx/HR/001/11 We will be Creative in our way of work We will be Open to ideas and change, We will be Respectful and earn respect We will be Ethical in our endeavors We will take a Simple approach in the way we work With Passion we will perform We will take Ownership of our actions Being Transparent will be our stance Our Code of Conduct sets out the fundamental standards to be followed by us in our everyday actions on behalf of the Company. We must abide the following code of conduct: †¢ Conduct the Company’s business with honesty and integrity and in a professional manner. Build relationships with customers, vendors and fellow employees based on trust and treat every individual with respect and dignity. Become familiar with and comply with the Company policies and procedures. Avoid any activities that could involve or lead to involvement in any unlawful practice or any harm to the Company’s reputation or image. Avoid actual or potential conflicts of interests in all transactions. Provide accurate and reliable information in records submitted; safeguard the Company’s confidential information. Promptly report to the Company any violations of law or Company policies that come to the employee’s attention, and cooperate fully in any audit, enquiry, review or investigation by the Company. . †¢ †¢ †¢ †¢ †¢ †¢ Page 3 of 5 Miscellaneous Policy Robi Axiata Limited HR Policy Manual Proposed By : Chief Human Resources Officer Approved By: Management Council Effective : 01 July 2011 Version : 01 Document ID: RAx/HR/001/11 All employees must uphold these standards in the conduct of company business. If a decision is not covered by the Code, seek guidance from the Divisional Heads or Human Resources. Our approach to People The purpose of Robi is â€Å"empowering you† – our customers, our stakeholder, and our employees. It is HR’s vision to handhold the company, be its strategic partner, adding value in each step taken towards making Robi the employer of choice. We engage our employees and inspire them to achieve excellence. To ensure excellence, we devise people policies that are relevant and rigorous. Our policies assure that decisions will be consistent with and contributive to Company objectives. The Policy manual is an important guide for management in decision-making that affects employees terms of employment, working conditions and development prospects. The Manual truly belongs to the company as well as to the employee. Characteristics of this Manual The Manual has the following essential characteristics: †¢ Robi people olicies are consistent with the Company’s other policies such as finance policy, business policy. The policies are reflected with the countrys existing law to ensure fairness. †¢ †¢ †¢ Policies are fair, flexible and realistic. Policies and procedures will be reviewed when there are major changes. People policies are applicable for all permanent employees of the Company. The policies are clearly stated so that employees can clearly understand them. Also HR will make necessary policy interpretations to the employees. Page 4 of 5 Miscellaneous Policy Robi Axiata Limited HR Policy Manual Proposed By : Chief Human Resources Officer Approved By: Management Council Effective : 01 July 2011 Version : 01 Document ID: RAx/HR/001/11 Policy Amendment process HR existing policies may be reviewed and will be revised in the policy manual. The Head of HR will review existing people policies and procedures and recommend for necessary changes in it. Also HR will assess and examine the need for introducing any new policy issues and bring those to the notice of the Management Council. The ultimate decision and approval rest on the management authority. Once the management council approves any new policy or amendments to existing policy, it will become the part of the Robi People policies Procedures Manual. Notwithstanding anything contained in this manual, the Management Council has the discretionary power to make exceptions to any of the policy of this manual. It is very important that all concerned understand and comply with the people policies at the work place. Non-compliance of Company policy is clearly violation of policy and merits disciplinary actions. Page 5 of 5 Miscellaneous Policy

Examining Social Justice And Equality Politics Essay

Examining Social Justice And Equality Politics Essay Social justice and equality is a significant issue in almost all societies around the world. It encompasses other important issues like human rights, social policies, social welfare problems and the like. It includes concerns about race, gender, ethnicity, socio-economic status, educational attainment and other factors that categorize individuals in a certain community. Therefore, the intricate relationship between social justice, equality and social welfare is vital in understanding the values, norms and attitudes that individuals in a certain society possess. In this paper, I will talk about social justice and equality and how it affects social policies and social work practice. I will also discuss certain relevant concepts like poverty and human rights, and I will also cite some social justice issues faced by vulnerable populations in Canada. Let us start the discussion by defining what social welfare is. According to Hick (2007) social welfare has numerous usages, but it can be seen more often in four basic themes. Social welfare can be a philosophical concept or an abstract set of principles that enable society to seek solutions to social problems. It can also be seen as a product or legislated documents that prescribe how income security and social services are to be carried out. The third theme is that social welfare can be seen as a process or a series of change that is never fully developed due to shifting contexts and lastly, social welfare can be seen as a framework of action which is both a product and a process. (p.2) Canada is known to be a social welfare state wherein social services and income security programs are available to citizens and these programs are provided by the government in various levels. (Hick, 2007, p.1) However, there are debates arising nowadays that questions Canadas position as a welfare state because of the tax cuts in funds that are allocated for social welfare programs such as income supplements and other monetary assistance for people who need help. Hick argued in his book that Canadas social welfare services provided by the government are diminishing, and citizens rely more and more in non-profit and for-profit organizations. Cutbacks on government spending budget for social services has been implemented and strict eligibility criteria has been set in order to determine who are the people deserving of assistance. Hick also stated that Canadian citizens are disagreeing over whether income security programs should be extended, strengthened or reduced. These differences are because differences in political ideologies, economic theories and basic notions and views about income security programs in our society. (Hick, 2007, p.20) In my opinion, the government should not cut budgets on social welfare programs and policies. I think that it is the duty of the Canadian government, as a welfare state to help its citizens in every way possible in terms of attaining socially-just and equal programs and projects with regards to social welfare. So, what is a socially-just welfare system? Our definition of a socially-just welfare can be different because of the different experiences we have. Our definitions may vary because of factors which affect our perception and behavior such as our family, mass media, our religion, education, socio-economic status or the experiences we had in relation to social welfare. For example, if one belongs to a low-income family, his/her definition of socially-just welfare can be those programs that give monetary, social and psychological assistance to all low-income families, without the need for strict criteria of eligibilities. This is because he/she experiences firsthand how hard it is to belong to a low-income family. On the other hand, if one belongs to a high-income family and he/she works hard in order to earn money, he/she may argue that a socially-just welfare system is the one who employs strict rules on eligibility. He/she may argue that peoples taxes should not be used to assist peo ple who are not in great need of assistance. In short, we may have different views regarding a socially-just welfare system because of the experiences and factors that shape the way we perceive things. There are also emerging theories on what is a socially-just just welfare system. For example, ideas such Social Investment State by Anthony Giddens (1998) proposes a social investment state that focuses on social inclusion by strengthening civil society and providing equality of opportunity than equality of outcomes. Giddens believe that jobs should not be low-paying and dead-end in order to attain social inclusion. Also, an inclusive society must provide the basic needs of those who cannot work. (as cited in Hick, 2007, p.105-106) This is one of many views that we can use in analyzing the aspects of social welfare. In a globalized economy wherein every action of almost all countries affects each other, we should always take into consideration the three important aspects namely social justice, equality and human rights intersect. Human rights are inherent rights without which we cannot truly live as human beings. The International Bill of Human Rights is the primary basis of the United Nations (UN) to promote, protect and monitor human rights and fundamental freedom. (Hick, 2007, p.115-116) According to Mishra (1999) globalization undermines the ability of the national governments to pursue policies of full employment and demand management. Furthermore, he said that globalization increases the inequality in wages and working conditions and high-paying jobs are shrinking while part-time employment flourishes. Mishra also pointed out that globalization prioritizes deficit reduction and tax cuts over social security systems. Lastly, he stated that globalization shifts power multi-national corporations and away from the labor and civil society, thus weakening the support for social welfare programs. (as cited in Hick, 2007, p.122-123) In my opinion, social justice, equality and human rights are all forms of protection for people in one way or another. All three preserves the right of the individual to have access to resources like employment, education and leisure. Also, reaching social justice and equality will surely alleviate the condition of individuals and will be able to make them attain the best state of well-being possible. All three concepts focus on the improvement of the individual, not just in monetary forms but most importantly as a complete and contented citizen. But as we have mentioned earlier, these three will not be attained as long as there are existing problems in the society like inequality, discrimination and lack of opportunities. Upon mentioning the hindrances in attaining justice and equality, let us now discuss poverty. According to Hick (2007), Canada is one of the only few countries without an official poverty line. However, Statistics Canada produces the Low Income Cut-off or LICO, which reveals that in 2004 around 3.5 million Canadians or 11.2 percent lived below the after-tax LICO level. (p.205) Poverty can be measured in terms of income, or in terms of how low or high can you locate yourself in the continuum line of LICO. However, according to Hick (2007), poverty is beyond income. Poverty can also be social exclusion or the marginalization of individuals. It means that individuals have limited opportunities or abilities to participate in social, economic, and cultural activities of society. The use of social exclusion is an attempt to broaden the definition of poverty beyond income levels computation. It views poverty as the inability to pursue well-being because of lack of opportunities. (p.210) In my opinion, how we view poverty is affected by the socialization we have as we grow up. We can see poverty as a lack of material or monetary wealth or we can view poverty as social discrimination or social exclusion. If one experiences the exclusion because of prejudice against him/her because he/she is seeking assistance of the government, that in is self can be poverty. Poverty is an important issue because there is a percentage of the Canadian population who belongs to these distinctions. Poverty is evident especially to migrant workers as they are sometimes deemed to have incompetent credentials. Credentialism issue arises as degrees and certification from non-traditional source countries may not be as readily recognized. Discrimination, non-recognition or undervaluing of foreign educational skills, credentials and education are most likely the factors why most immigrants live beyond LICO as opposed to Canadian-born citizens. (Hick, 2007, p.218) Kazemipur and Halli (2001) found out in their study that with everything else held equal (like education and language) the odds of poverty increases by 56 percent if one is an immigrant. (as cited in Hick, 2007, p.218) High poverty rate among immigrants is an example of a social justice issue related to vulnerable populations. Because of the combination of discrimination, limited opportunities to work, hesitance of employers to hire immigrants because of adjustment issues and undervaluing foreigner skills and credentials, immigrants are singled-out. They are not able to realize their full potential and are forced to live below the poverty line because of the reasons mentioned above. According to Hick (2007) these deep-seated problems cannot be solved by the labor market alone. Variety of policies is needed such as employment and pay equity, recognition and promotion of the hidden skills of new immigrants to prospective employers, the provision of language and skills training to the new immigrants and the expedited recognition of foreign credentials. Hick argued that these policies are needed to address the social exclusion of recent immigrants and racialized communities. (p.218) This discrimination of migrant workers because of the fear that they are not as good as Canadian Citizens is a clear manifestation of injustice. In a society that calls itself a social welfare state, this kind of inequality must be eradicated. In my opinion, inequality and injustice arises in a society like ours when people start to mistreat and judge others in terms of their race, ethnicity, gender, social class and the like. As migrants workers adjust to the culture and practices in Canada, it would be unhelpful if people will judge them instead of helping them. Another vulnerable population in Canada is the Aboriginal peoples. According to Hick (2007) 31.2 percent of the Aboriginal peoples live below LICO. (p.218) They are discriminated along with other immigrants in terms of skills and educational attainment, thus making it hard for them to find a high-paying job, or even a sustainable job. Malcom Saulis (2003) discussed the state and condition of programs and policies for social welfare in relation to the Aboriginal peoples in his article Program and Policy Development from a Holistic Aboriginal Perspective which can be found in our Reading text. In his article, he stated that even though Aboriginal communities are now fully capable of delivering and implementing social welfare programs, they still do not have autonomy to do programming in a way that fully takes into account the culture of their people. (Book of Readings, 103-104) This is a social justice issue because the Aboriginal peoples are still deprived to practice and nurture the culture that they have for a very long time already. Limiting them, by not letting them incorporate ceremonies, dances, songs, drums, gatherings and the like in social welfare programs prepared and attended by their own people is equivalent to depriving them of their own well-being. Integration to society should not interfere with the culture and tradition that the Aboriginal people possess. Saulis (2003) identified the difference between Aboriginal and mainstream policy-making processes and found out that Aboriginal peoples are more interested in the collective rather that the individual and the approach of the former is more community-based. (Book of Readings, p.109) Therefore, not letting the Aboriginal peoples decide for themselves in terms of social welfare programs will not work. They have a frame of thought different from the mainstream ideas and it would work best for them to let them practice their traditions and beliefs and let them incorporate it in the programs that the government provides. Canadian social workers therefore have a very important role in ensuring that social justice and equality is incorporated within the delivery and design of social welfare programs and policies. They are the ones who will deal with people and they are also the ones who are placed in-between the government and the recipients of social welfare programs. Social workers are the one who could see the bigger picture, as they know why certain policies are made or approved, and they also know what is happening in the field. They are the people who can see the day-to-day lives of ordinary citizens of Canada who are the targets of the programs. Social justice and equality can be factored into welfare designs and deliveries by assessing the needs of the target population. Since there has been tax cuts recently in the budget for social welfare projects, the government devised tools that would determine whether one is eligible for social welfare or not, such as income allowances and other monetary measures. What should we take into consideration in making and delivering social welfare services is not just the capacity of the individual to make money, but also the acceptance of society itself in that individual. Meaning, instead of looking at the individuals personal problems like he/she cannot find work or he/she cannot find a stable source of income, we should look at what kind of society that the individual revolve around. Is Canadas society discriminating against immigrants, Aboriginal peoples or women? Are there enough work for everybody? What state or working conditions in Canada? By doing these, we do not stereotype the individual and we do not label him/her, but we are actually looking at the holistic view of the current conditions. If Canadas working environment is not discriminating and on the other hand inviting to all citizens, then the target population of social welfare programs in terms of income supplement would be reduced. Justice and equality should be enjoyed by all citizens of Canada, regardless of whether they are immigrants, First Nation peoples, Aboriginal peoples and the like. Government programs should be accessible to all individuals regardless of their race, gender, ethnicity, age, religion, educational attainment and the like. Since social workers are the one who are in the field they can also suggest better ways of conducting social welfare programs and they can also influence policy-making projects of the government and politicians. Social workers can pin point the roots of the problem and suggest more comprehensive solutions in addressing this because they are more exposed to the individuals needing assistance. Also, as mentioned by Hick (2007) in the first page of his book, almost all Canadians of all ages has been in need of help of social welfare programs once in their lives. Even children, single parents, women, aging citizens, disabled or people simply undergoing a difficult time in their lives has in one way or another needed help from the government. (p.1) In terms of international social justice issues, Canadian social workers can also influence the policy-making process of other countries who aim to be a social welfare state. Because of the experiences they already have in working with Canadas programs, they can give efficient programs for starters and they can also be open for consultations in order to guide other countries who want to adapt a welfare state system. In conclusion, I could say that I learned so much about social justice and equality in this assignment. Also, I was able to review the basic concepts about social welfare and was also able to reflect on the state and condition of social work practices and programs in Canada. I hope that the Canadian government as well as the citizens could improve the conditions in our country to further promote social justice and equality and in order to protect and exercise the well-being of its citizens.

Comparing the Struggle for Power in 1984, Fahrenheit 451, Invisible Man and Julius :: comparison compare contrast essays

The Struggle for Power in 1984, Fahrenheit 451, Invisible Man, Julius Caesar, and Lord Of The Flies If you delve into the content of almost any novel, there is almost always some kind of struggle for power. It could be for rightful integration into society; power over an island; power over a country; or in some cases, even power over the minds of others. These not at all uncommon struggles for power are what keep us interested in the plot of a book. The ongoing battle between a character and his cause makes it impossible to put down a good book. For instance, the novel 1984 by George Orwell is about the struggle of a man and a woman to somehow find a way to get out of the constant barrage of cameras and mind control conducted by their government. Although the two of them eventually lost the battle, there was still a victor in the struggle for power: their government. In the novel Fahrenheit 451, by Ray Bradbury, the main struggle for power deals with the government. This overly oppressive, almost Orwellian style bureaucracy, tries to make sure there is no interaction with books at all. They believe that books permeate their society and corrupt the minds of the people. Unannounced searches of property by "firemen" are not at all uncommon. At the slightest inkling of this futuristic contraband, these firemen will rummage through all of one's property, at times, destroying everything in their path. On the opposite side of that spectrum, there is a struggle for power by the people as well. There is the woman who hid several thousand volumes of books in her house. She loves these books so much that when the firemen ransacked her house, she went down with the books without hesitation. In another example of this ongoing struggle for power, some people's lives were actually transformed into books. Their names changed to the title of the book, and they had to memorize every single written line of text. These people were so determined to fight for what they believed, that it would be impossible to say that some kind of struggle for power did not exist. They were struggling for the power of freedom. There is not only one kind of freedom you can have. Some peoples struggle for the power of freedom might be just to be allowed to exist at all.

Competition Techniques :: essays research papers

Competition Techniques   Ã‚  Ã‚  Ã‚  Ã‚  A complete pole vault jump is best explained by breaking it down into 9 basic steps. The steps are pre-run preparation, beginning the run, the acceleration and pole drop, the speed plant, the take off, the Tap Swing, the rockback, the clean to turn to push, and the Bar clearance.   Ã‚  Ã‚  Ã‚  Ã‚  First thing to do after warming up properly is to step to the back of the runway and place the left foot on the starting mark. The right foot will be slightly behind and to the right of the left foot for good balance. Hold the right hand along side of the body at or above the waist. The left hand holds the pole a few inches in front of the chest. The pole is balanced in an almost vertical position. The vaulter should be in a position ready to drive off the starting mark.   Ã‚  Ã‚  Ã‚  Ã‚  Next, to begin the run, the right hand remains constant at the waist. The top hand holds the pole a few inches away from the chest as the initial body lean and push-off of the left foot tilts the pole toward the pit. Drive hard off the left foot to get the pole moving. Transfer the weight of the pole into the right hand. The legs are driving the hips. The hips are driving the top hand and the top hand is driving the tip of the pole. Relax the drive and work into a smooth accelerating run.   Ã‚  Ã‚  Ã‚  Ã‚  Then, the pole vault acceleration and pole drop begins at the starting mark and ends when the tip of the pole hits the back of the box. The pole tip has a smooth and constant drop to a horizontal position during the acceleration and pole drop. The height of the pole tip dictates the speed and form of the run. The run gets faster and the turnover of the feet moves forward under the hips as the pole tip drops. If the right hand gets behind the hips during the acceleration and pole drop push it forward going into the left foot as the pole reaches its level position. The vaulter may have to raise his or her elbows slightly to get the pole to a perfectly level position. For the high school pole-vaulter this position is about hip level.   Ã‚  Ã‚  Ã‚  Ã‚  Next, the pole vault speed plant starts on the left foot two strides before the take-off.

Csr Essay

â€Å"It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently. † Warren Edward Buffet, Entrepreneur. Social responsibility of business is a very contradicting topic and there clearly can be no perfect answer as to what extent corporations should employ it. Milton Friedman and Ivar Kolstad have contrasting opinions on the issue, and both of them listed weighty arguments for their positions. In this essay I would like to express my view on the problem presented in the articles.The argument can in fact be called â€Å"shareholders vs. stakeholders†. Management is bound to be responsible to shareholders; otherwise there will be some other management who will be responsible to them. In this respect, management does not have a choice. But they do have a choice whether or not to be responsible to other stakeholders as well, that is, employ some general and non-legislative principles of doing business. Sh areholders are central in Milton Friedman’s opinion. He believes that a company exists in order to satisfy the shareholders and give them the most possible out of it.I cannot agree with this view and I think that it is quite narrow, because most companies are so much more than just profit-generators for stockholders. Of course companies need to make profit – otherwise they cannot survive, but owners should indeed feel the difference between fair profits, fair return on their money, and unlimited profits created at someone’s expense. Let’s look at managers’ choice between maximizing profits and caring for stakeholders from the perspective of different schools of normative ethics.Kantian deontology states that there are actions that are always good and actions that are always bad, and humans should act according to their moral duties, not to selfish motives and wishes. In the world of capitalists, this theory is quite hard to apply, since businesses inherently pursue the goal of profit generation, which is selfish by its nature. However, an idea of universal law can be used to evaluate moral actions: if one manager chooses to deceive his customers, let’s assume that all managers choose to deceive their customers. What would the result be?All customers would be deceived and would no longer trust the companies. So when making decisions, Kant suggests thinking in terms of universal laws. The opposing theory – consequentialism, suggests that the moral value of an action only depends on its consequences. However, let’s imagine that an employee of a nuclear power station decides to talk to his friend on the phone instead of controlling the process. If everything goes right and no catastrophe happens, can his action be considered ethically good? In this sense, the theory is not very useful.However, if we are talking about managers’ decisions, they should always think about consequences that their actions ca n cause. Another theory is utilitarianism, which evaluates the moral value of an action in terms of the summed happiness of all members of society that resulted from it. Shareholders make themselves â€Å"happy† by maximizing profits at any expense, but a whole lot of stakeholders are left â€Å"unhappy†. Therefore, owners of the company minimize the good in society by maximizing profits. On the other hand, a company can make a lot of people deliriously happy by giving out its products for free, and soon go bankrupt.So where does the thin line lie between maximizing customers’ value while staying financially sound and giving up profit opportunities for ethical motives, getting no or a very moderate return? It’s a very hard question, but in my opinion, companies should try to avoid doing harm to customers, employees and environment whenever they can. Another school is called classical school, and it states that the moral value of an action depends on its n ature, motives and consequences. In my opinion, this theory is the most sensible one, because it comprises all other theories and does not look at actions from a narrow perspective.As long as customers are concerned, CSR is integral when dealing with them. If customers are dissatisfied with the quality of a product or service they get, or a company somehow deceives them, thus maximizing its profits, it receives a bad reputation and as a result can lose all of its customers and the shareholders would not get any returns. However, all too often companies cut costs at the expense of their customers’ well-being: for example, feed chickens with hormones that can have adverse effect not only on an individual, but also on his genes; or use low-cost resins in the production of furniture that poison humans’ breathing system.Frequently customers do not know about these hazards and assume that the product is of decent quality. I am not saying that companies should openly declare that their products are harmful, but rather that from the ethical point of view it would be right if the customer could have an overall image of the product that he is purchasing. It makes sense to also mention the billboards advertising make-up products where all women seem perfect and consumers subconsciously think that if they buy the product, they would be closer to the perfect image presented to them.However, it appears that most of these photos are heavily photoshoped and there is no way a real woman can look like this. However, these images do affect the overall standards of beauty, and make many women depressed about their appearance and many men to admire not the real natural beauty, but a fake photo of a woman he might never notice in the real life. In this sense, Dove has made quite an ethical move and launched a â€Å"Campaign for Real Beauty† (although it may as well be that this so-called â€Å"responsible† campaign was nothing but a fresh marketing move) .However, it attracted attention to the topic and made more people aware of it. From Friedmanian point of view, can good quality goods be seen as a deviation from maximizing profits? Or should a company’s managers strive to cut costs, but so that it is not so evident to customers, in order to get more money? For example, a manager of a food company knows that he can substitute one ingredient for another, cheaper one, which may cause cancer if often consumed, and the customers most probably won’t realize it, because the appearance and the taste of the product will not change.Should he maximize profits in this case? According to Friedman’s view, if a manager knows about the possibility but decides not to use it, he taxes the shareholders who would not get this additional profit. In the end it all comes down to the agent-principal theory, which states that managers have skills and knowledge that the shareholders do not themselves possess, therefore owners often can not estimate, whether or not the management is doing a good job, so they need to trust the management.It follows that the management indeed has a choice, because shareholders do not really know to what extent management acts in owners’ interests. And again, shareholders most often can go away, sell their shares and have nothing more to do with the company, so they are likely to involve with strategies that damage other stakeholders. If we talk about employees, would it be fair to use child labor or underpaid labor in some third world?Kolstad says that companies have bigger responsibility in poor countries than in rich countries because poor countries’ governments cannot guarantee their citizens’ rights. I agree with him and I believe that there should be some sort of a moral code for companies, which defines that a company cannot exploit these unethical means of getting profits and involve in such â€Å"dirty† operations. Also, if we talk about layoffs, w ould it be fair to dismiss employees who have worked in a company for many years and who actually created its image and reputation?Shareholders are sort of blank in this sense – they are not involved in the development and production and often they do not put anything personal into the company, nor are they loyal – if the company does not promise good returns, they simply invest their money somewhere else. It is rather an ethical question whether these people need to be a priority for the management. Sure, their expectations need to be met, otherwise management will be dismissed, but a company is not its shareholders – in fact, they can be anyone.I believe that the main principle a company can adopt in relation to its employees is guaranteeing that everyone involved in the process gets a fair return. This means that there should be no miniscule salaries, regardless of where a company does business. However, if we talk about countries’ differences, surely a salary of a worker in China would be lower than that of the same worker in Finland. The point is that a company should not aim to just exploit the labor force of the country it chooses for its production, but rather think about how to make life for the workers better as well.If workers in a China are prepared to work for 100$ a month, but in this case it only gives them a chance to get by and not die, it would be very ethical from a company’s point of view to pay them 140$ a month. It would still be many times cheaper than hiring the same worker in Finland, but at least a company would give Chinese workers a chance to live decently. So all in all I believe that a company should not aim at employing people at the lowest possible salary in order to cut costs, but instead respect employees and ensure they get a fair return on their work. Another dimension of corporate responsibility is environment.It is special because the environment cannot cry for help, and if not enough att ention is paid to it by the state or people, and a company does not treat it healthily, it becomes absolutely insecure. European and American companies that have factories in the third-world countries have no pragmatic interest in caring for the environment. Governments of these countries have to make a difficult choice between food and goods for its citizens and pollution caused by First World companies that choose Third World because environmental laws are much less strict there than in developed countries.So how should a company behave in regard to the environment? I believe that it is integral that a company does not just exploit it and leave the state and the population of the country dealing with the negative consequences. For example, managers are frequently tempted to cut costs by not installing waste filters and pouring unfiltered dump into rivers, lakes and soil. They can foresee that the consequences of this negligence can be disastrous, but they just do not care because they can always move their factories to another poor country with loose environmental legislation.This behavior is morally ill from the point of view of classic school of normative ethics. The nature of an act in obviously damaging – they pollute the environment. Their intention is to cut costs by involving in this negligence, and is by no means noble. The circumstances are bad and the managers actually could foresee it, but they are either too happy themselves with the stream of money or shareholders make the decisions for managers and make them behave in an environmentally harmful way.In this case managers become â€Å"Dams† and the organization can be considered ethically ill. However, who could directly punish companies for such actions? Their customers in the First World may have some idea of this irresponsibility, but they like the cheap product and most of them still are not so environmentally conscious. Home government does not really care what the company does in some Third World country. So in the end it all falls down on the Third World country, its government and especially people.It also has to be said that all environmentally irresponsible decisions are relatively short-term from the whole mankind’s point of view, because for now we have only one planet with the fixed amount of non-renewable resources. However, the safety and sustainability of nature is always dependent on numerous individuals who face trade-offs between clean environment and their own advantage, and people are generally prone to choose what is best for them. In conclusion, it has to be said that there are no perfect companies – each business inevitably pursues its own selfish aims.However, in modern globalized world, where corporations have a lot more influence and power than ever before, they also have a lot more responsibilities to the society. Unfortunately, managers all too often forget that they are the ones who can make all the difference to a c ompany that is avoiding its responsibilities. â€Å"It is easy to dodge our responsibilities, but we cannot dodge the consequences of dodging our responsibilities† Josiah Charles Stamp, English Economist and President of the Bank of England