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Wednesday, August 5, 2020

Friend

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Friends Can Destroy You


Friends maintain immense abandon of sources to develop a good relationship between two people. As we general say friends' interpretations must be honesty, straightforward to each other. They should agree each other's opinions. They support self-awareness to each other. They don't walk away when troubles come to them but to give them hands. Such civilization of friend identities put my self into a den deeper and deeper. The more I experience the more I recess friends are definitely brutal, deceived and distrustful.


According to my empirical of self-esteem in friendship that I have realized friends who take an advantages form each other. They are relentlessly impact their sentiments. They approach you when they need you, but they never regard you when you need them. There are too many evidences that show how and why my friends betrayed me all the time. The next paragraphs will talk about one of my friends. Through out the incidence has occurred me that I am thoroughly assured friends are selfish, distrustful, foolish, and sorrowful.


My past memory has frequency consecutively emerged in my brain that my best friend has betrayed me again and again.


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Since I was in high school that I have met several best friends, one of them are the special one. We went out together, drunk together. Even we shared the money we had. Such of happiness made us even closely like blood brother. We were all well known to each of our parents, because we were intimacy doing things together. Not only this but we also helped each other when there fights beside us.


On the year of my age18, when was my last year to graduate from high school. At the same time there also was the high provoking promotion reflected every one to get an opposite partners which we call boyfriends or girlfriends. So I carried this thought to look for one who I got was I like the most, she has a lot of things some other girls don't have. I had been together nearly a year. During that year my best friend was also well known about her who we went out together and played together. He regarded us all the time, what she was good at or the things we did together. One day I stumbled on they were together one night. We gradually broke up….


Furthermore, not only this but also he cheated on me when I immigrated to the Unite States. He cheated on me of he was going to buy a house for his mother who was old and sick. Such faith of parents influenced me to lend amount of money to him. However, later I found out he got the money to gamble and loosed it. From that time on he broke his promise to pay me money back and has not even give a call.


Confronting frustrations that I recessed the reasons why my friends had chosen to cheat on me, because I was too dependable on my friends. I shared my secrets and feeling. I sacrificed most of things which have never thought to achieve them back. Being excessive in believe people who never shared their secrets or thoughts with me. Profoundly we concern if we really find ones who we can trust on. Then we should treasure them but not to destroy them.


Friends are variety groups of people who help each other, comfort to each other, and encourage each other. However, they can destroy our feeling of human dignities. They can grab every thing you have and gone for permanently. Friends could bring happiness or could give hand to you to be succeeded. But at the same time it also can be revise of the opposite sides or make you lost even more than he or she helped you gain. There has such proverb saying "the more love you receive the more pain you pay" it is truer than ever since.


yyFriends Can Destroy You


Friends maintain immense abandon of sources to develop a good relationship between two people. As we general say friends' interpretations must be honesty, straightforward to each other. They should agree each other's opinions. They support self-awareness to each other. They don't walk away when troubles come to them but to give them hands. Such civilization of friend identities put my self into a den deeper and deeper. The more I experience the more I recess friends are definitely brutal, deceived and distrustful.


According to my empirical of self-esteem in friendship that I have realized friends who take an advantages form each other. They are relentlessly impact their sentiments. They approach you when they need you, but they never regard you when you need them. There are too many evidences that show how and why my friends betrayed me all the time. The next paragraphs will talk about one of my friends. Through out the incidence has occurred me that I am thoroughly assured friends are selfish, distrustful, foolish, and sorrowful.


My past memory has frequency consecutively emerged in my brain that my best friend has betrayed me again and again.


Since I was in high school that I have met several best friends, one of them are the special one. We went out together, drunk together. Even we shared the money we had. Such of happiness made us even closely like blood brother. We were all well known to each of our parents, because we were intimacy doing things together. Not only this but we also helped each other when there fights beside us.


On the year of my age18, when was my last year to graduate from high school. At the same time there also was the high provoking promotion reflected every one to get an opposite partners which we call boyfriends or girlfriends. So I carried this thought to look for one who I got was I like the most, she has a lot of things some other girls don't have. I had been together nearly a year. During that year my best friend was also well known about her who we went out together and played together. He regarded us all the time, what she was good at or the things we did together. One day I stumbled on they were together one night. We gradually broke up….


Furthermore, not only this but also he cheated on me when I immigrated to the Unite States. He cheated on me of he was going to buy a house for his mother who was old and sick. Such faith of parents influenced me to lend amount of money to him. However, later I found out he got the money to gamble and loosed it. From that time on he broke his promise to pay me money back and has not even give a call.


Confronting frustrations that I recessed the reasons why my friends had chosen to cheat on me, because I was too dependable on my friends. I shared my secrets and feeling. I sacrificed most of things which have never thought to achieve them back. Being excessive in believe people who never shared their secrets or thoughts with me. Profoundly we concern if we really find ones who we can trust on. Then we should treasure them but not to destroy them.


Friends are variety groups of people who help each other, comfort to each other, and encourage each other. However, they can destroy our feeling of human dignities. They can grab every thing you have and gone for permanently. Friends could bring happiness or could give hand to you to be succeeded. But at the same time it also can be revise of the opposite sides or make you lost even more than he or she helped you gain. There has such proverb saying "the more love you receive the more pain you pay" it is truer than ever since.


Please note that this sample paper on friend is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on friend, we are here to assist you. Your persuasive essay on friend will be written from scratch, so you do not have to worry about its originality.


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Tuesday, August 4, 2020

Difference between Damocrats and Republicans

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The challenge of running a competitive campaign for the U.S. presidency is made easier by the existence of the political parties and other organizations. In United States there are two major parties, the Republicans and the Democrats, that compete against each other. It is often criticized that both parties are too similar and it makes no difference who's is power. Although both parties have most in common but there are indeed large philosophical differences.


"Many observers note that in recent years the Republican party has become increasingly conservative. Although there is a range of opinion within the party, Republicans generally advocate a limited role for the federal government in solving society's ills." (The League of Women Voters, 1). Republicans also support cuts in the domestic programs from social welfare to environmental protection, lower taxes and increases in spending for defense.


The Democrats are identified as the more progressive party. This is mainly due to a Democratic President Franklin Roosevelt's New Deal programs. These programs were designed to alleviate problems caused by the Great Depression. "Republicans are far more likely to say the moral climate of the country has declined, while Democrats have far more faith in the federal government's ability to solve problems. Many more Republicans see the government as a threat to their rights. And unlike Republicans, Democrats want more regulation of guns." (Adams, web).


Democrats believe in issues like pro-choice while Republicans believe in pro-life. Democrats usually support the lower or middle class people and the Republicans tend to support the higher class. Republicans also support welfare reform and believe the things you do, you are responsible for those actions. While being a Democrat means to stand up for anyone and everyone. "Nevertheless, the differences between the parties in how much the government should be involved has real policy consequences. Democrats do trust the government more than Republicans." (Adams, web).


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The criticism that two parties are alike is not based so much on what they believe, but on the way they act. There are some areas, like the campaign finance, where the parties look the same. Otherwise they are quite different and have different programs to help the people of United States. "Republicans have more confidence in religious institutions, the military and large corporations than Democrats do. And Republicans are more likely to say there's too much government regulation than Democrats." (Adams, web).


However, both parties work for the betterment of United States and its people. They want their country to flourish and remain as a supper power for the whole world. They work hard to maintain its integrity and self-esteem and also to take care of the people and fulfill their needs to the best possible extent. Therefore, it doesn't matter who is in charge as long as they keep caring for the country, people and their needs.


WORKS CITED


Adams, Noah. Analysis Differences between Republican and Democratic parties, http//ehostvgw4.epnet.com/ehost.asp?key=04.17.1.140_8000_85487775&site=ehost&return=y


The League of women Voters. Choosing the President A Citizen's Guide to the 000 Election. New York The Lyons Press, 1.


Please note that this sample paper on Difference between Damocrats and Republicans is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on Difference between Damocrats and Republicans, we are here to assist you. Your cheap research papers on Difference between Damocrats and Republicans will be written from scratch, so you do not have to worry about its originality.


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Monday, August 3, 2020

Run Baby Run - Nicky Cruz

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Describe the society that Nicky found himself in when he arrived in New York.


When Nicky first arrives in New York he cannot speak English, so to him the society would seem alien. He leaves Puerto Rico with only $10, and is unknowingly swindled out of it by a greedy hot dog vendor. "I'd had my first experience of American enterprise". Nicky asks citizens for help in finding his brother, Frank, but most people ignore him. The society in the 150's seems to have been very prejudiced against minority groups.


Describe the school that Nicky attended in Brooklyn


Most of the students at Nicky's school were similar to Nicky, in that they were trouble makers, from low socio-economic groups, and non Anglo-Saxon. The authority figures at Nicky's school lacked power, and had to resort to calling in the police for major issues. The students did not pay attention in class, and the education a student received was quite poor. The school seemed less a centre of learning, and more a prison, as the students achieved little, and wanted to get out of the school.


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Describe two tense moments in the story when Nicky had to deal with danger


In chapter four, Nicky faces the 'initiation' test to be allowed to enter the Mau Maus. The child who undergoes the 'initiation' before Nicky chickens out, and is stabbed in the armpit. This is a very tense moment as the reader is left thinking will Nicky be a chicken, will he become fatally wounded, or will he be allowed into the Mau Maus? The scene is becomes tenser by the fact that Nicky is in the Mau Maus hideout, with lots of other Mau Mau members, making escape virtually impossible.


Another tense moment is when Nicky is confronted by an Apache, whilst at the train station, waiting for David Wilkerson. In the fight that ensues, Nicky acknowledges God and uses his faith to halt the fighting, and the Apache runs off.


What causes Nicky to change?


The efforts of David Wilkerson are the sole reasons for Nicky's change. Of course, leading a life such as Nicky's would have made any person unhappy and unfulfilled. When Nicky converts and leads a righteous life, he experienced a sense of goodness that he had never experienced before in his Satanistic past-life.


What sort of lifestyle does Nicky have after he becomes a Christian?


After Nicky converted to Christianity, he went to Bible College and met a girl called Gloria. He married her and eventually had a baby called Alice. Gloria and Nicky worked for the Teen Challenge society, run by the preacher, David Wilkerson, who brought about the change in Nicky. Nicky does similar things to what David did to him by radically changing the lives of street-youth with the help of God.


Nicky has a massive bout of depression while he was running Teen Challenge. What brought on this depression on and how did Nicky overcome it?


Nicky failed to convert and help two girls brought under his care and this initially caused Nicky's depression. When they were first brought under Nicky's care, everything was going well. But eventually, the girls regained their lives on the street, disheartening Nicky greatly.


What really got Nicky down however, was Israel, a previous Mau Maus gangster, refused Nicky's request to come work with Nicky on the Teen Challenge. Nicky was even more disheartened by the fact that Israel had just been released from jail, and so Nicky expected that Israel could have seen the error of his past ways and chosen the right path. Nicky had also prayed for Israel every day prior to Nicky's meeting with Israel.


Nicky overcame his depression by visiting Kathryn Kulhman, and later left Teen Challenge to start his own organisation, 'Outreach for Youth', which helped younger children on the street.


What does Nicky achieve in "Run Baby Run"?


I think Nicky achieved two things in the book love and inner happiness. At the end of the book, Nicky has his love for Gloria and his child, and also his love for God. Nicky also achieves inner happiness, as he is doing what God intends him to do and living in a God-intended manner, and helping spread the word of God to other disadvantaged people.


What is your opinion of this book?


I believe 'Run Baby Run' is an exciting book, despite the fact that the book is written 50 years ago. Nicky Cruz paints the scenes of the ghettoes well, and after each lesson of reading 'Run Baby Run', one is left with the feeling of power and 'Nicky Cruzyness', as the book gets across the emotions of Nicky particularly well. The book also shows how evangelists work, and reveals the often secretive inner-lives of gangs and gangsters. Reading 'Run Baby Run' in term one of Year in RE has been particularly enjoyable, as it has given us an insight into the world of gangs, violence, drugs, and how God can offer an alternative to these activities.


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Friday, July 31, 2020

Factors that impede the tight integration between business strategy and Human Resource strategies in the hospitality industry.

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Factors that impede the tight integration between business strategy and Human Resource strategies in the hospitality industry.


The integration of corporate and human resource strategy is one of the much-debated topics within the concept of strategic human resource management.


Truss and Gratton (14) describe strategic human resource management as the linking of HRM (Human Resource Management) with strategic goals and objectives in order to improve business performance and develop organizational cultures that foster innovation and flexibility. Thus, Strategic HR means integrating the HR function of an organisation with the companys strategy through HR activities such as recruitment, selection, training and rewards and any other HR activities specific to the hospitality organisation.


The necessity of this integration is demonstrated by Miles and Snow (14) who suggest that, without human resource strategies and policies linked into strategic business objectives, high levels of organisational performance are not likely.


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There are, however a number of problems that arise in the process of this integration both within the concepts demonstrated by Hoque (1) as internal fit and external fit.External fit being the HR strategy meshed with the business strategy such that there should be a consistency between the values and aims within each. Internal fit therefore refering to


the introduction of HRM as an institutionally supported package of practices that cohere with and mutually reinforce each other i.e. employee policies, commitment, flexibility and quality of work.


It is to be argued that one of the main barriers to the successful integration of business and human resource strategy is the lack of commitment and understanding of management (both corporate and line management) to the cause of HRM integration.


Dyer and Holder (188) adopt the stance that top management is probably the most powerful force that can work against the adoption of HRM iniatives.


Whilst Kane (1) takes the view that, top management take a short-termist perspective on HRM because they believe that evidence of HRM having a long-term and positive impact on individual or organisation level performance is sketchy.


Kane goes on to report on the possible reason for senior and middle managers negative perspective on the value of HRM could also be attributed to their inability to establish tangible elements and positive outcomes directly linked to HRM therefore their commitment deviates or becomes non-existent.


Hoque, Ks (1) research into UK hotels indicates poor practice and a lack of interest in HRM among managers in the hotel industry.


Whilst, Tyson (17) portrays the attitude of line managers towards human resource activities as one of the key organisational features for successful HRM.


Due to management at a "floor" level being at the source of HRM in terms of its implementation at an operational level, line managers can been viewed as a major barrier to impede the integration of corporate and HR strategies.


It is therefore suggested that if the integration is to be achieved to its utmost potential, management on all levels must realise the effectiveness of HRM policies and procedures and how to sucessfully immplement them into the organisation.


Taking all this information into account, the research undertaken by Hoque (1) into Human Resource Management and Performance in the UK Hotel Industry, takes a different stance suggesting that for corporate management to impede the integration of strategies, it is done so indirectly through taking a focus [within the business strategy] on cost reduction or on price factors [which] leads to sup-optimal performance within the industry.


Thus illustrating that corporate management should ideally emphasise an opposite quality- enhancer method with regard to service and the product in question.


Schuler and Jackson (187) reinforce this issue by arguing organisations that have a quality enhancement or innovation approach within its business strategy will make effective use of HRM. Thus leading to suggest that if the organisation has to priortise cost reduction within its strategy, the logical approach to deal with the issue would be to emphasise numerical flexibility and cost control.


However, this deviation does not fully resolve the situation as, if cost reduction is priortised within the business strategy, it could potentially upset policies and procedures that have been instilled by the HR Department.


These policies and procedures will be discussed later in the essay.


Hoque (1) also puts forward the view that HRM practices implemented in a seemingly piecemeal and uncoordinated fashion have fewer benefits, which is true of practices in any hospitality department.


In order for said practices to be otherwise strategically implemented in a fashion relevant to the firm, a functioning, effective, well supported Human Resource Department must be in place. This point being relevant to any organisation which wishes to advance its performance through the aims and objectives outlined in its business strategy.


The level at which HR staff are proactive/reactive to their role within their department can also be foreseen as a major contributing factor to the integration of the aformentioned strategies.


The view that staff within HR departments, are lacking knowledge in their field, are poorly trained and most importantly have an overall ineffective presence in terms of tangible results, is one held widely throughout not only the hospitality industry, but across many other industries. As Kane, Crawford and Grants (1) research shows, there is a general agreement that they [HR managers] lack the knowledge, skills, influence, credibility and perspective on their roles to implement a strategic approach to HRM.(MORE THAN ONE QUOTE!!!)


It is therefore vital that the Human Resource department takes a proactive approach to their roles within strategic plans and subsequent activities undertaken, as Tyson, S (DATE) suggests, strategic HRM will not occur unless the human resource professional takes steps to make it happen.


In terms of HRM the HR department is the first point of contact in a hospitality establishment for employees and line managers. If the knowledge of the staff in the HR department is sub-standard, the information, policies and procedures that are passed onto managers/employees could be of comparable relevance. This potentially may lead to the integration between the two strategies being even further impeded.


Therefore the HR department must not only possess the basic skills of Human Resource management, but also realise the individual features of the business strategy the company is adopting, how the strategies support each other and their role to support the fit between the two. Through this, the department can then adopt its policies and procedures to suit, but can also recruit, select, train and reward employees according to a set strategy.


HR staff therefore need to be able to realise the importance of their actions and how it impacts on the integration of the business and HR strategy.


If their signifiance to the strategy is realised and the support given from management is forth-coming and effective, the "fit" between strategies potentially can be achieved to a greater degree.


The previous factors of management commitment to the integration between business and HR strategies and the relevance of HR staff have both been shown to be of significant importance when integrating strategies.


However, the current state and perception of HR as a concept and its relevance to the hospitality industry, is a factor that if not shown to demonstrate its relevance, may have further detramential effects on the aforementioned elements.


Price (14) enforces this statement by arguing that practices in the hotel industry were so far removed from both the personnel and industrial relations and the human resource management ideal types, that neither model should be used to inform research on the [hotel] industry.


Whilst this representing one end of the spectrum, the relevance of Human Resources to the hospitality industry is a widely debated and much critisised one.


This factor is of significant importance when linking back to the previous areas of management and the HR department. Management have already been shown by Kane and Crawford (1) to need tangible and positive outcomes to comprehend and support the incorporation of a HR strategy whilst also realising the potential it has to work positively and help make strategic, informed decisions for the organisation.


Kane and Crawford (1) state that, there is considerable agreement about the lack of proven knowledge and the difficulty in quantifying the results of HRM, thus not supplying the essential tangible results.


The acknowledgement of opinions by managers/employees in hospitalitycould lead to possible cynicism from managers/employees in hospitality when required to adhere to policies and/or procedures set by the HR department.


Sisson (1) reports findings of only fragments of HRM being found in his study of UK hotels, this in uxtaposition with Lucass (15) view there is sparse evidence to be found of any UK hotels that have taken HR "seriously onboard", lead the reader to a fairly poor outlook on the current state of HRM in the hospitality industry.


It is therefore made all the more clear that in order for HR departments to effectively integrate with businesss strategy, they need to have clearly defined policies and procedures to lead tothe tangible results when dealing with an organisations personnel. Legge (15) suggests the soft approach involving encouraging motivation, development and commitment. This methods main emphasis is on developing a workforce that is innovative and of a valued resource to the company therefore emphasising self-development.


Hoteliers such as Malmaison and the Hilton (REFs www) group can be used as examples of companies that employ a variety of soft models when dealing with policies and procedures, due to their detailed training methods, appraisals and procedures that encourage employee feedback.


The hard method on the other hand is more closely tied with the business strategy and is suggested to be used by companies with a stress on cost control due to its strict reliance on policies and procedures. The outcome of this being that it leaves minimal room for employee innovation and development.


Schuler (18) has undertaken research into cost reduction and quality enhancement strategies, even though the context is aimed more towards the manufacturing and industrial sectors, the basic principles are demonstrated to have hospitality relevance.


His evidence takes the skeptical view that as predictable as the outcomes of the hard model are, the relevance and existence of a HR department comes under question as reliance on this model means power rests in the hands of the top executives and designers of the workflow processes.


The negative aspects of the "hard" model being the effect on staff morale and motivation as there is little room left for deviation from the policies and procedures potentially leading to increased employee turnover.


However, the positive aspects of employing this system being the low level of un-certaintity due to the predictability of competition and customer behaviour.


The obvious examples of hospitality firms that employ this system being major standardised fast food chains and quick service restaurants.


The logical approach when considering the application of hard and soft HR models would be to integrate models that compliment each other. As previously discussed the concept of fit is all important when discussing the integration between the two strategies in question, however this concept of close fit may contradict the elements of the soft model. Due to the hospitality industry being renowned for cutting costs/corners through minimum wages, low quality service and products, this may be the reason why HR strategies have failed to have a positive impact.


Therefore; it is essential that HRM practices are consistent with what the organisation is trying to achieve otherwise, as Schuler (18) reports, role conflict and ambiguity may result in poor individual employee performance and affect the organisational performance of the organisation.A point argued by Tyson, S is that without human resource strategies and policies linked into strategic business objectives high levels of organisational performance are not likely. If this resource is successfully employed, the concept of HRM depends on how it is applied in a work situation and the tangible outcomes of integrating HR into a business strategy.


The evidence illustrated therefore demonstrates that the concept of fit between strategies lacks specific concepts and empirically elusive


The research conducted and points highlighted have shown that the aligning of business and HR strategies complex whilst there being a multitude of research conducted on the subject, the amount of research specific to hospitality is minimal.


Therefore the validity of HRM within the context of this essay depends on the extent to which human resources are used for the achievement of competitive benefit and added value to the firm and therefore should be treated one of the organisations decisive strategic resources.


Bibliography


In search of HRM Sission K British Journal of Industrial Relations 1


Strategic Human Resource Management and Industrial Relations R.S.Schuler


Human Relations Volume 41 Number 18 pp157-184


Human Resource Management and Performance in the UK Hotel Industry Hoque,K


British Journal of Industrial Relations September 1 pp41-44


The Practice of Human Resource Strategy, Tyson S, Pitman Publishing


Barriers to effective HRM Kane, B and Crawford, J International Journal of Manpower Volume 0 No8 1 pp44-515


Linking Competitive Strategy with Human Resource Management Practices Schuler R.S and Jackson, S.E The Academy of Management Executive 187 Volume 1 No pp07-1


HRM in Hotels a Focus on Commitment, Guinngle P.J and Jameson S, Employee Relations Volume No 4 00 pp40-4


Human Resource Management a strategic approach to employment Hendry C Butterworth Heinemann 000


Introducing Human Resource Management nd Edition Foot, M and Hook, C, Longman, 1


Lucas, R. (16) Industrial Relations in hotels and cateringneglect or paradox?, British Journal of Industrial Relations Vol. 4 No pp. 67-86


Price, L. (14) Poor personnel practice in the hotel and catering industry does it matter? Human Resource Management Journal Vol 4 No 4 pp.44-6


Sission, K.(10) Introduction Human Resource Management Journal Vol.1 No.1


Please note that this sample paper on Factors that impede the tight integration between business strategy and Human Resource strategies in the hospitality industry. is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on Factors that impede the tight integration between business strategy and Human Resource strategies in the hospitality industry., we are here to assist you. Your persuasive essay on Factors that impede the tight integration between business strategy and Human Resource strategies in the hospitality industry. will be written from scratch, so you do not have to worry about its originality.


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Thursday, July 30, 2020

How it all began

If you order your custom term paper from our custom writing service you will receive a perfectly written assignment on how it all began. What we need from you is to provide us with your detailed paper instructions for our experienced writers to follow all of your specific writing requirements. Specify your order details, state the exact number of pages required and our custom writing professionals will deliver the best quality how it all began paper right on time.


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How It All Began


I was born in the small town of Aliquippa, Pa on September 7, 184. My father had a serious anger problem that seemed to be constant on his side of the family and genetic I guess, because my family says I'm ten times worse when I'm angry. My supposed "anger problem" was never really apparent to me though. After my fourth birthday, my father and I began taking anger management classes. I don't really recall going, but apparently we both needed a lot of help. We attended classes constantly, twice a week for the next two years. The psychologist recommended that my parents find me some extra curricular activities to get into. They wanted me to long to get along with others, in a sense, become more sociable. That did not sit well with me at all, I was the only child and I learned to get along by myself so I was comfortable only when I was by myself. In the fall of 11, I was at the impressionable age of six, I found myself sitting in front of a television screen every Sunday after church, mesmerized. I loved the way the players moved with such gracefulness and ran around hitting each other with reckless abandonment. Finally, I had found the one activity that would suppress my need for a constant positive activity Football. I began to play pick-up football with the other kids around my neighborhood. At the beginning I was always the last person picked, I guess because of my size (4'5 86 lbs). It was as if they took me for a joke, but deep inside I knew something they didn't, I had heart. I was brought up with the mindset that if you didn't have heart, you have nothing. Before long I was hitting people twice my size and my confidence level went sky high. It didn't take long before I began to be one of the first picked for teams. This was destiny, and I knew it.


I could not wait for the day the local recreation would start posting flyers about the up coming football season tryouts. Finally, on the second day of September, the flyers began to appear everywhere over the town. I grabbed the first one I seen and I sprinted home. When I arrived, my mother was outside watering her flowers. Tired and gasping for air, I tried to get a sentence out but all that came out was fragments of words. Desperate to get my message across, I just gave her the flyer. Overjoyed, I grabbed the flyer back and ran into the house to call the number. I called the number for my weight class and spoke with the coach. He gave me the tryout information along with the status of the team. I was extremely excited about starting. I did everything to prepare for the league. I got a physical, filled out medical forms, and even attended the parents meetings. I was willing to do anything.


Before I knew it the day of tryouts arrived. My mother and father took me to the park to meet my coach for the first time face to face. His name was Coach Hill. He took me and introduced me to the rest of the team and got me fitted for my equipment. A little later, he gathered the parents and the players to give us an overview of the tryouts. For some reason I couldn't really concentrate on what he was saying with the smell of football in the air. All of what he was saying was minute in comparison to what I wanted to do at that time. Who cared about snacks after a game?


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Tryouts finally began. Tryouts couldn't have gone any better. I hit, I avoided, and eluded others. I felt really confident when the coach sounded the final whistle, but it wasn't what I felt that counted. He told us that the results would be posted in the main entrance the next day.


I went home that day and kept to myself the whole day. Thoughts of doubt kept going through my head, but deep inside I knew that win or lose, I put forth my best effort. It took me awhile before I reminded my parents of the postings at the park. It took me even longer to get up the courage to even go to the board to view the posted results. It was as if I was taking my last walk, only thing that was missing was a minister and an executioner. The hallway seems twice as long, the doors seemed heavier to open, and my heart raced at unbelievable speeds. I thought back to the day before when I received numerous compliments from the coaching staff and figured that I had nothing to worry about. Finally, I arrived at the board, the list was red which meant whatever was on it was important. I closed my eyes, took a deep breath, and looked up at the list. My eyes scanned the list for something that resembled the name "mica daniels". There it was, in bold black ink on this red piece of paper, my name, "David Fisher" with the words linebacker next to it. I was overcome with joy because of my accomplishments, for I knew that this was the beginning to something way bigger than what I could ever imagined.


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Wednesday, July 29, 2020

Criminal Justice

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Monday, July 27, 2020

The Fall of Enron

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Not so long ago, Enron's name was amid a lexicon of corporate and political power. However in a matter of months Enron transformed from one of the greatest corporate success stories in US history to the centre of perhaps the largest corporate scandal the business community has ever seen, engulfing company executives, one of the worlds largest accounting firms, politicians and Wall street traders. This paper analysis's the amazing journey of Enron form an organisation held in the highest of esteem by the community and envied by competitors, to its shocking demise leaving its name a disgrace and sparking a long line of investigations and criminal and civil charges laid upon its officers and accountants from burned investors and former trading partners.


In the early eighties when takeovers were the business strategy of choice, Kenneth Lay successfully fended off a hostile takeover of his pipeline company, Houston Natural Gas. It was then that Lay realised that the key to the company's survival was, 'to make itself to big to devour' (Henriques 00). So in 185 Lay orchestrated the merger of his company with the largest pipeline company in the world, Internorth of Nebraska. The merged company changed its name and Lay was put in charge. Enron was born.


Initially the company was faced with enormous challenges. Beyond being saddled with debt from the merger, Enron was submerged into a rough, deregulated marketplace. Lay was not satisfied with Enron simply being a mover and seller of gas. Lay saw wide spread opportunities in the industry and moved the company into the commodities trading world of electricity, gas, wood pulp, steel, advertising time on television, insurance against credit default and later moved into the world of e-commerce adding high speed data and internet capacity to it lengthening list of company resources.


Business boomed and Enron was thriving. By 15, Enron had become the biggest participant in the natural gas industry, controlling one fifth of North Americas market (Eichenwald 00). Enron was ranked number seven by Fortune magazine in April 001 in Fortunes ranking by market capitalization of the five hundred largest corporations in the United States (Gomez 00). At its peak Enron had annual revenues of more than $100 billion, employed more than 0,000 people and was widely recognised as the biggest e-commerce company in the world carrying a bubble era inflated stock price to match.


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Kenneth Lay, Enron's CEO created strong relationships with many of the nations politicians, including president George W Bush as well as making large contributions to many political campaigns. By the time Mr Bush was inaugurated in 001, Enron and its executives were the largest contributors over Mr Bushes career with an amount exceeding $750 000 (Eichenwald 00), It was through these relationships in which Enron became a pioneer in deregulating Energy markets in the US. According to Mr Hebert, chairman of the Federal Energy Regulatory Commission, conversations with Mr Lay carried a clear message, 'Enron, a generous contributor to the Bush campaign, would use its White House access to advance its interests' (Henriques 00).


All told, Enron represented a collective investment of $10 million, however in reality it was producing minimal returns (Schultz 00). From the outside looking in few of Enron's problems were evident.


18 saw Enron earn its highest ever annual profit. Earnings continued to rise and Enron's stocks climbed to $0 a share, showing a promising future for the company. However, what none knew was that this success was not only unsustainable, but also was to be short lived. In mid 1, Enron executives began the manoeuvres that set the thriving company on its doomed path.


Enron was in desperate need of additional capital to continue its growth, despite the substantial debt it already held. Funding new investments by issuing additional debt or raising capital was unappealing as it diluted earnings per share and was unattractive on financial statements. Andrew Fastow, Enron's chief financial officer was able to solve the company's problem, or so they thought. Fastow set up several partnerships which allowed Enron to move debt off its balance sheets and provide an influx of cash flows from outside investors such as banks. The partnerships set up were defined as Special Purpose Entities (SPE). The use of SPE's are common among US corporations. They provide that as long as at least % of capital comes from outsiders, an SPE can be left off the consolidated financial statements of the parent company (Reinstein & Weirich). This enabled Enron to raise cash flows through debt under SPE's without it being recorded as a debt on financial statements or disclosed to shareholders. On the surface, this arrangement represented a common financing technique decreasing the company's risk by moving it debts to separate partnerships that were not included on the parent companies financial statements (Schultz 00). However, later it was revealed that these partnerships were used by Enron as a tool for making the company appear far more profitable than it really was. At least a dozen of these partnerships were set up.


Enron's stock prices were the key link which enabled Enron to keep hundreds of millions of dollars of potential losses off its books. The contracts between Enron and the partnerships had provisions, called triggers, that required Enron stock prices to remain above a specific level. When Enron's stock was trading as high as $0, the stock prices attached to these triggers were - $57.78 in one case, $47 a share in another and $8 in third. At a time when the stock prices were so high, the triggers seemed absurdly low and none though the stock would ever reach such lows (Cameron 00).


As the Nasdaq boom in technology stocks fizzled, Enron stock began to fall. Stocks hovered around $70 a share, however this was still far from the trigger prices and so alarms weren't being raised just yet. Under accounting standards, Enron was able to keep roughly $504 million of red ink off its books as long as the SPE's remained financially healthy enough to fulfil their obligations. However the SPE's were deteriorating. In March 001, accountants found ways to refinance then using a series of complex and fragile transactions, however they were merely putting off the inevitable. This allowed Enron, in April, to present first quarter results for 001, boasting $45 million in earnings, while huge losses were shuffled away in "off balance sheet" partnerships. Enron may have seemingly won the battle but it was about to loose the war.


Enrons stocks continued to fall. By mid June 001, Enron stocks were floating alarmingly close to the trigger prices that had once seemed so ludicrously remote. "On Monday, July 001, Enron's stocks closed at $46.66. It would never rise above $47 again" (Henriques 000).


August 14th saw the world inside Enron take another twist. Jeff Skilling, who had been made CEO just six months prior, after Lay stepped down, announced that he was resigning. Citing undisclosed personal reasons as the grounds for his decision, he left assuring investors that the finances of Enron had never been better.


By late September, Enron was essentially doomed, although it would be weeks before that reality sank in. The problems at Enron went by unnoticed by the public as the nation focused on the horror and aftermath of the September 11 terrorist attacks.


Another blow for Enron came when auditors from Anderson discovered a mistake they had made more than a year earlier. They way they accounted for Enron's shares that had been used to finance the partnerships had incorrectly added $1 billion to the assets on Enron's balance sheet. Correcting this mistake would reduce Enron's assets by $1 billion. On the 16th of October Enron announced it was deducting $1 billion from its third quarter earnings, producing its first loss in more than 4 years. A loss amounting to $5 million. As a result October saw Enron stocks fall to around $0 a share and continued to decline heavily.


In late October another bomb was dropped. It appeared that Chewco, one of Enron's SPE's which had been treated as an independent entity which housed millions of dollars of debt, did not meet the accounting requirements of such. This meant that all Enron's prior transactions with Chewco had essentially been transactions with itself, constituting a criminal act.


Lay, who had stepped back as CEO after the resignation of Skilling, realised Enron was in over its head and began looking for options to save the troubled company. After exhausting almost all options there appeared a light at the end of the tunnel for Enron. After talks with one of Enron's long time rivals, Dynergy Inc, it appeared that a merger between the two companies was the answer.


On the surface, the Dynergy deal seemed to be Enron's salvation. Boards of the two companies tentatively agreed to the merger on November 7th 001. Enron shortly after was forced to announce that its financial performance since 1 had been an illusion, largely created by Fastows partnerships and the manipulation of SPE's. Correcting the improper accounting for its dealings with these partnerships meant that $600 million in previously reported profits were wiped out (Reinstein & Weririch 00).


The downward spiral for Enron was beginning to reach the end of the road. The company was hemorraging cash. A week after signing the merger agreement Enron burnt through $ billion and was not able to account for a large portion of where the money had gone. Payment on many debts were accelerated due to the troubles Enron was experiencing. Enron owed $60 million, payable within days. On November 0th Enron's shares closed at $6. a share. As a result of the recent events Dynergy terminated the merger. It appeared Enron's had reached the end of its downhill slide.


At 4.8 am December nd Enron officially filed the petition for bankruptcy. The game had ended. Enron's audacious climb to Success ended in a dizzying plunge.


001 had seen Enron take on a new mission to become "the worlds greatest company" (Eichenwald 00). Today Enron is renoun as the world's greatest story as the biggest, fastest corporate collapse in American history.


The demise of Enron can be largely attributed to its relationship and dealings with the partnerships it created. A weakened economy in the wake of the Nasdaq tech stock burst and September 11th also assisted in the company's deterioration. However other issues inside the company also played a key role. Corporate culture inside Enron has been speculated as a major contributor to Enron's brutal collapse. It was a culture of greed and arrogance which breed excessive secrecy. An insider described Enron's culture as " an adrenaline driven culture, with an obsession of 15% a year or better growth" (Fox 00). Enron also had a rank or yank policy anyone not ranking well was subject to be yanked. "Employees who were yanked sometimes had just 0 minutes to get their things together and leave" (Packer 00).


The controversy surrounding Enron has seen the formation of many jokes which circulate the industry. "What is business school morality? It is the ethic that says the purpose of every living creature on Earth is to increase shareholders value. It says that conduct is acceptable if it passes an audit and pleases Wall Street analysts." (Packer 00). "What is tooth-fairy economics? It is a body of knowledge that ignores the implications of expecting endless growth. If a company isn't growing at a rate of 0% compounded annually, management is deemed to be incompetent" (Packer 00). While it is of a satirical nature, Packer does successfully reflect on the culture which existed inside Enron.


At the centre of the Enron storm is the accounting firm Arthur Anderson. Anderson was both, Enron's external auditor as well as their internal accountant and advisor. Enron was Anderson's second biggest client. Last year alone it collected $5 million in audit fees, and even more for it's accounting and advisory work (Grey 00). This remains one of the most highly debated issues in the US today, should a public firm serve both as an auditor and a consultant? Anderson failed to raise the alarms regarding a number of accounting scandals which inevitably bought the company to its knees. Whilst Anderson denies any wrong doing, including the shredding of documents relating to Enron, is has admitted to "an error in judgement" in its treatment of Enron's 'off balance sheet' vehicles which led to an overstatement of profits by more than $600 million between 17 and 000 (Reinstein & Weirich 00).


In the tragic demise of America's seventh largest corporation there is no one person can be held accountable. Auditors who had multiple and conflicting roles did not raise alarms about improper financial statements. Directors failed in their duty to closely question management and accountants, and thus failed to ferret out the accounting irregularities. Lawyers and company officers set up partnerships that concealed the true financial plight of the company. Rating agencies yielded to the entreaties of management and only slightly downgraded credit ratings at a time when the company was failing. While Wall Street analysts from companies such as Goldman Sachs continually recommended Enron stock, even as it plummeted. As those on the outside wonder in disarray how a company boasting such power and success could collapse in just 11 months, many on the inside are still amazed that the troubled empire remained as long as it did. In essence the collapse was the result of a highly flawed vision; the consequences essentially inevitable.


Bibliography


1. Davis, J (00), "The Enron Factor", ABA Journal, Chicago, April.


. Eichenwald, K (00), "Web of Detaild Did Enron In as Warnings Went Unheeded", New York Times, Feb 10th.


. Eichenwald, K (00), "Audatious Climb to Success Ended in a Dizzying Plunge", New York Times, Jan 1th.


4. Fox, L (00) "Enron The Rise and Fall", Harper Collins Publishers, NY.


5. Goldstein, J (001), "What Was Enron", Wall Street Journal, New York, Dec 1th.


6. Gomez, L (00), "Enron a case for better understanding cash flows", Business Credit, New York, Jul/Aug


7. Henriques, D (00), "Seeking a quick fix; Struggling to avoid posting huge losses, Newsweek, Jan 4th.


8. Holman, W & Jenkins, J (00), "Enron for Beginners", Wall Street Journal, New York, Jan rd.


. Kaufman, H (00), "The Fall Out From Enron; Lessons and Consequences", Vital Speeches of the Day, New York, May 15th.


10. Packer, A (00), "Enron the movie", Machine Design, Cleveland, May th.


11. Reinstein, A & Weirich, T (00) "Accounting Issues at Enron", CPA Journal, New York, Dec.


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