Bruce Knauft and The Gebusi Religion - 1300 Words

As anthropologist Bruce Knauft described, the Gebusi clan had words that described many different aspects, examples included oil the Gebusi word for tomorrow and yesterday and owa for grandparents and grandchildren, but the most defining one was kogwayay, a catchfall marker to describe all of their cultural distinction. Because of kogwayay’s branching terminology, kogwayay is also the Gebusi’s word for ethnicity, the identification with a cultural group because of shared values customs and beliefs, while inversely excluded from different groups. One aspect that contributes to the Gebusi’s sense of kogwayay is religion. Through Knauft’s book we see their religious ways introduced and watch them change and adapt with the dynamics of cultural change over time. As defined above, ethnicity is the shared customs, values and beliefs that the cultural group shares that set them apart from other groups. The religion described within Knauft’s research is app licable to majority of those elements, making it a vital part of kogwayay. One of the Gebusi’s traditions is presented in the suicide description of chapter three. Dugawe, one of the men of tribe, was found after hanging himself, and in Gebusi tradition the women massage the body and cover themselves in the bodily fluids oozing from the decomposing body. While ethnocentrism may come out in a majority of people, this is part of the Gebusi beliefs and customs that set them apart from certain groups and bring individuals together.

Gsci Free Essays

DERIVATIVE CASES An Investment Linked to Commodity Futures Professor Richard Spurgin FIN 5310 – 1 Group 1 Zhongyi Qian Hao Cheng Yue Zhao Liuyang Gao Motivation for issuing the security Prior to the Swedish Export Credit Co. issued the security, the performance of the GSCI showed that this index was clearly attractive. First, the increasing-trend cumulative total returns were higher than the returns on SP 500 and the Treasury bonds, and then it became more diversified with more futures contracts introduced after 1980. We will write a custom essay sample on Gsci or any similar topic only for you Order Now Besides, another attractive feature of the GSCI was its ability to act as a hedge against inflation because it had a strong positive correlation with the two most widely used measures of inflation: CPI and PPI. In addition, the investment on the GSCI had the potential to decrease the risk of a portfolio because its returns were negatively correlated with returns on stocks and bonds. We could examine the index performance more specifically. The total returns on the GSCI consisted of three components, the yield from the collateral Treasury bill, the spot return and the roll yield from the futures. According to the total return of the GSCI prior to 1990, we could find that the contribution of the T-bill yield was substantial and relatively stable while that of the spot return was small on average and extremely volatile and that of the roll yield was positive though somewhat volatile. The primary source of return changed based on different period with different financial environment and weighting strategy. Spot return contributed a lot in the inflationary period while the roll yield contributed more in the isinflationary period. As for the returns after 1991, we consider it reasonable to assume that the GSCI would continue to generate hefty returns. Since the prices of crude oil futures included in the GSCI had been in backwardation 80% to 85%, GSCI generated high roll yield that significantly contribute to the total return during 1981-1990. Therefore, we can say that in 1991-1993, with substantial contribution of T-bill yield and relatively high roll yield, the total return of the GSCI would continue to be hefty in short term. As a consequence, the GSCI would get more attractive and hence popularizing securities exclusively tied to it such as notes issued by Swedish Export. In addition, it was true that GSCI was particularly attractive because it had negative correlation with the US stock market. From Exhibit 4, we can obviously find returns of GSCI had negative correlation (actually -0. 32) with returns of SP 500 and in the meanwhile, generated relatively higher returns than those of SP prior to 1991. As far as we concerned, it make a lot of sense since it’s a fully collateralized portfolio of commodity futures. As we know, in theory, commodities futures perform well when financial assets perform worse , that is to say, GSCI has a negative correlation with stock markets. Structure of the security It is possible to replicate the GSCI by making a portfolio, which contains the future contracts of the commodities that includes in the GSCI and the futures of each individual commodity can be weighed approximately the same percentage as they are in the current GSCI. When the future reaches to its maturity, the future contract will be rolled over into the next nearest contract just like the way the GSCI was calculated. In this way we can replicate the GSCI index and the return should be also approximately equal to it. As for the tradeoff between buying the structured note and the replicating portfolio, one should compare them in different aspects. Although the nominal return maybe theoretically the same, the actual return of the structured note should be higher than the replicating portfolio because the transaction fees and charges will be charged in the progress of making and keeping the portfolio. To replicate the payoffs of the GSCI, the investor also needs to put a certain amount of money as the frequent margin and/or collateral postings. Besides, if the investor wants to sell what he has for cash, then he will find the liquidity for the structured note is much higher than the replicating portfolio. However, the investors would only get paid 95. 57% of the increase rate of GSCI index from the structure note while they did not have such limitation on the replicating portfolio. On this transaction, Goldman Sachs earned commission fee as 0. 35% of the total amount of the note, which was $350,000, but they got far more than this for creating the index. In addition to the notes described in this case, Goldman Sachs offered a number of other products related to the index. Each of these products would generate a huge amount of commission. For Swedish Export Corp. , they could finance with no fix interest paid and the possibility that the cost of financing was even cheaper than that of issuing company bond directly definitely existed. Investors would like to have this structure note in portfolios not only because the advantages illustrated above, but also because it had a negative correlation with the stock market, so it could hedge the portfolio risk to some extent. How the deal performed over time To calculate the total return, we first need to calculate the cash flows (Table 1) by using the formula, Par*[0. 9557 *GSCI End / GSCI Begin], and when at maturity the value investors could redeem is $78781. 54. Thus the total return of security is as below: (78781. 54/100000)^(1/3)-1=-7. 64%; 39390. 77/50000)^(1/3)-1=7. 64% Compared with other alternatives such as Managed Futures Funds, Swap Transaction and CRB Futures Index, it seemed that GSCI was a good investment since all these three alternatives had relatively lower return than GSCI and still in the decreasing trend. However, the total return of GSCI was declining from 1991 to 1994. Besides, the T- bill yield was higher than the GSCI return, which made this investment meaningless. Additionally, we calculated the yearly return of GSCI and downloaded the return of SP and Treasury of these four years. Correlations between GSCI return and SP and Treasury return is showed in Table 2. It was obviously that there were positive correlation between the GSCI return and SP and also positive between GSCI and Treasury, which meant that this future contract could not decrease risk effectively. Therefore, in retrospect from 1991 to 1994, the GSCI futures contract decreased the overall return and at the same time failed to diversify the risk of the investment portfolio. It was not a good investment for investors. Table 1 Year| Par=100000| Par=50000| 11/1/91| 95570. 00| 47785. 00| 11/30/94| 78781. 54| 39390. 77| Table 2 Year| Return| SP| Treasury| 91| -5. 46%| 30. 23%| 5. 61%| 92| -4. 09%| 7. 49%| 3. 41%| 93| -8. 20%| 9. 97%| 2. 98%| 94| -7. 64%| 1. 33%| 3. 99%| | | | | SP and return| 0. 327556756| T and return| 0. 302031481| How to cite Gsci, Essay examples

Analysis Of The Book The Kite Runner Essay Example For Students

Analysis Of The Book The Kite Runner Essay The only thing that separates humans from the savagery of mere animals is our ability to distinguish right from wrong. Throughout thousands of years of evolution and our own constant road towards an unstable future, humans have long grappled with morals and ethics. It is up to the individual to determine what they believe to hold true in situations that test their values. Literature shows us scenarios to interpret without the risk of real experiences literature tests our ideas of what it means to be â€Å"a good person†. Critic Roland Barthes describes literature as â€Å"the question minus the answer†. In the novel The Kite Runner by Hoseinni, we see through the eyes of an Afghan boy named Amir as he continuously makes selfish decisions fueled by his own sense of childish jealousy and feelings of inadequacy. As he grows into a man and pushes his regrets to the side though not ever completely out of his mind he learns to live through and accept the pain he caused both himself and his best friend, Hassan. Towards the end of the novel, Amir goes to great lengths to earn the redemption he feels he needs in order to finally be at peace. The Kite Runner asks the audience what it truly means to be a good person do we need to be born with goodness in our hearts, do we live the way that is comfortable and right according to ourselves, or do we have to constantly fail and prove that we are good? When thinking of a â€Å"good person†, a common example often comes to mind. Usually, it is someone that makes decisions selflessly and has only pure intentions even when faced with the t emptation of sin. These traits are often seen in the stereotypical hero or main character in a story. However, in The Kite Runner, these are only seen in the protagoni. .swer the question of what is â€Å"a good person†. Though literature is â€Å"the question without the answer†, we’re still able to draw our own conclusions from its lessons. Hosseini’s novel asks us what it means to be good with the intricate and difficult personal relationships throughout. Whether you see someone as good through their personal actions or how those actions affected others, â€Å"good† is a relative term. To me, a good person is someone who doesn’t always make the right decisions but understands and feels remorse when they realize the fault in their actions. That person never stops trying to right their wrongs. The Kite Runner is the perfect story to demonstrate that: though Amir damaged his life and others’ singlehandedly through childish jealousy towards his friend, he understands that he can â€Å"be good again† by owning up to his mistakes and making things right.

Themes in of Mice and Men free essay sample

Themes, Motifs Symbols Themes Themes are the fundamental and often universal ideas explored in a literary work. The Predatory Nature of Human Existence Of Mice and Men teaches a grim lesson about the nature of human existence. Nearly all of the characters, including George, Lennie, Candy, Crooks, and Curley’s wife, admit, at one time or another, to having a profound sense of loneliness and isolation. Each desires the comfort of a friend, but will settle for the attentive ear of a stranger. Curley’s wife admits to Candy, Crooks, and Lennie that she is unhappily married, and Crooks tells Lennie that life is no good without a companion to turn to in times of confusion and need. The characters are rendered helpless by their isolation, and yet, even at their weakest, they seek to destroy those who are even weaker than they. Perhaps the most powerful example of this cruel tendency is when Crooks criticizes Lennie’s dream of the farm and his dependence on George. We will write a custom essay sample on Themes in of Mice and Men or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Having just admitted his own vulnerabilities—he is a black man with a crooked back who longs for companionship—Crooks zeroes in on Lennie’s own weaknesses. In scenes such as this one, Steinbeck records a profound human truth: oppression does not come only from the hands of the strong or the powerful. Crooks seems at his strongest when he has nearly reduced Lennie to tears for fear that something bad has happened to George, just as Curley’s wife feels most powerful when she threatens to have Crooks lynched. The novella suggests that the most visible kind of strength—that used to oppress others—is itself born of weakness. Fraternity and the Idealized Male Friendship One of the reasons that the tragic end of George and Lennie’s friendship has such a profound impact is that one senses that the friends have, by the end of the novella, lost a dream larger than themselves. The farm on which George and Lennie plan to live—a place that no one ever reaches—has a magnetic quality, as Crooks points out. After hearing a description of only a few sentences, Candy is completely drawn in by its magic. Crooks has witnessed countless men fall under the same silly spell, and still he cannot help but ask Lennie if he can have a patch of garden to hoe there. The men in Of Mice and Men desire to come together in a way that would allow them to be like brothers to one another. That is, they want to live with one another’s best interests in mind, to protect each other, and to know that there is someone in the world dedicated to protecting them. Given the harsh, lonely conditions under which these men live, it should come as no surprise that they idealize friendships between men in such a way. Ultimately, however, the world is too harsh and predatory a place to sustain such relationships. Lennie and George, who come closest to achieving this ideal of brotherhood, are forced to separate tragically. With this, a rare friendship vanishes, but the rest of the world—represented by Curley and Carlson, who watch George stumble away with grief from his friend’s dead body—fails to acknowledge or appreciate it. The Impossibility of the American Dream Most of the characters in Of Mice and Men admit, at one point or another, to dreaming of a different life. Before her death, Curley’s wife confesses her desire to be a movie star. Crooks, bitter as he is, allows himself the pleasant fantasy of hoeing a patch of garden on Lennie’s farm one day, and Candy latches on desperately to George’s vision of owning a couple of acres. Before the action of the story begins, circumstances have robbed most of the characters of these wishes. Curley’s wife, for instance, has resigned herself to an unfulfilling marriage. What makes all of these dreams typically American is that the dreamers wish for untarnished happiness, for the freedom to follow their own desires. George and Lennie’s dream of owning a farm, which would enable them to sustain themselves, and, most important, offer them protection from an inhospitable world, represents a prototypically American ideal. Their journey, which awakens George to the impossibility of this dream, sadly proves that the bitter Crooks is right: such paradises of freedom, contentment, and safety are not to be found in this world. Motifs Motifs are recurring structures, contrasts, and literary devices that can help to develop and inform the text’s major themes. The Corrupting Power of Women The portrayal of women in Of Mice and Men is limited and unflattering. We learn early on that Lennie and George are on the run from the previous ranch where they worked, due to encountering trouble there with a woman. Misunderstanding Lennie’s love of soft things, a woman accused him of rape for touching her dress. George berates Lennie for his behavior, but is convinced that women are always the cause of such trouble. Their enticing sexuality, he believes, tempts men to behave in ways they would otherwise not. A visit to the â€Å"flophouse† (a cheap hotel, or brothel) is enough of women for George, and he has no desire for a female companion or wife. Curley’s wife, the only woman to appear in Of Mice and Men, seems initially to support George’s view of marriage. Dissatisfied with her marriage to a brutish man and bored with life on the ranch, she is constantly looking for excitement or trouble. In one of her more revealing moments, she threatens to have the black stable-hand lynched if he complains about her to the boss. Her insistence on flirting with Lennie seals her unfortunate fate. Although Steinbeck does, finally, offer a sympathetic view of Curley’s wife by allowing her to voice her unhappiness and her own dream for a better life, women have no place in the author’s idealized vision of a world structured around the brotherly bonds of men. Loneliness and Companionship Many of the characters admit to suffering from profound loneliness. George sets the tone for these confessions early in the novella when he reminds Lennie that the life of a ranch-hand is among the loneliest of lives. Men like George who migrate from farm to farm rarely have anyone to look to for companionship and protection. As the story develops, Candy, Crooks, and Curley’s wife all confess their deep loneliness. The fact that they admit to complete strangers their fear of being cast off shows their desperation. In a world without friends to confide in, strangers will have to do. Each of these characters searches for a friend, someone to help them measure the world, as Crooks says. In the end, however, companionship of his kind seems unattainable. For George, the hope of such companionship dies with Lennie, and true to his original estimation, he will go through life alone. Of Mice and Men offers limited, rather misogynistic, descriptions of women who are either dead maternal figures or prostitutes. Despite Steinbeck’s rendering, Curley’s wife emerges as a relatively complex and interesting character. Although her purpose is rather simple in the book’s opening pages—she is the â€Å"tramp,† â€Å"tart,† and â€Å"bitch† that threatens to destroy male happiness and longevity—her appearances later in the novella become more complex. When she confronts Lennie, Candy, and Crooks in the stable, she admits to feeling a kind of shameless dissatisfaction with her life. Her vulnerability at this moment and later—when she admits to Lennie her dream of becoming a movie star—makes her utterly human and much more interesting than the stereotypical vixen in fancy red shoes. However, it also reinforces the novella’s grim worldview. In her moment of greatest vulnerability, Curley’s wife seeks out even greater weaknesses in others, preying upon Lennie’s mental handicap, Candy’s debilitating age, and the color of Crooks’s skin in order to steel herself against harm. Steinbeck does not give her a name because he wants to reflect her complete lack of individual indentity. Curleys wifes dream of becoming a movie star dies when she marries Curley. I think that you can see this symbolized in the fact that she is never even given a name in this book. That shows, to me, that she has essentially had who she is taken away by marrying Curley. If you think about it, now that shes married to Curley, what chance has she got of ever becoming anything? In those days, women didnt have a lot of opportunities once they married and Curley is even less likely than most men to ever let his wife get any independence. As jealous as he is, he would never let his wife become anything. Curleys Wife is trapped. She is locked into a rural social structure of the 1930s California farm life, and by the common stereotypes and social views of women and their role at that time. She is certainly portrayed as disadvantaged for her choice of husbands, as Curley is both abusive and unloving. Steinbeck also takes care to portray her as a character who is consumed by loneliness and hopelessness. She has dreamsgoing to Hollywood to be in the movieswhich will never come true. She wants things as simple as someone to talk to, but has a husband with a personality that is half anger and half jealousy. She is just one of several sympathetic characters in this novel.

Cultural Expectation of Media essays

Cultural Expectation of Media essays This essay is based on many of my own observations and does not reflect the opionions of any particular person/persons, organization, group,etc. This essay was created from personal introspection and by observing different forms of media I lead a discussion group for preparation of this review. The group focused on cultural expectations and the media and discussed an overview of media influence. The focus of the groups discussion was that media uses specific gender roles and stereotypes in an attempt to persuade the public to accept their beliefs. The main idea behind the group discussion was that forms of media such as television and print display various meanings and images that are directed to specifics groups in society. The groups discussion generally focused on the advertisements, T.V. shows, music, and print material such as books and magazines that targeted men and women. The argument that the group stressed was that media uses symbolism and underlying motives to convey m essages, sell products, and create idealistic settings that are stereotypically misleading and untrue. As a group, we had a collarborative effort. Each question allowed the group to explore the aspects of gender stereotypes in different ways. Miriam Whites article about gender roles and the fishery. The most important idea that we gained from Whites article is that stereotypes of women have existed for many years in Newfoundland due to government and industry involvement in the fishery. Men were the providers and the women stayed home and took care of the household. Modernization of the fishery segregated women as governments tried to keep men fishing and women onshore in the fish plants. Actually, the government and fishing industry saw women as a consumers instead of individuals that were capable of successfully providing for their family. Whites article mentions advertisements. This was a f...

Australian Business Sustainabilit Report

G4 GRI Guidelines offers guidance in a user friendly manner and helps in improving the technical quality of the guidelines, so as to eliminate the chances of ambiguity and diverse interpretations, so that it benefits the users and reports of such information, in a uniform manner. These guidelines help in focusing upon what matters and where it matters. These guidelines also enable the identification of the critical matters which have to be managed and changed, and if the entity is ready to manage such matters or not. Further, these guidelines are focused on the material sustainability related issues. Corporate Governance refers to the practices, standards, and rules, which a company has to follow, to ensure that the company works in a justified manner. Corporate Governance involves social responsibility and relates to balance of the interests of the various stakeholders, including the customers, financiers, shareholders, management, community, as well as, the government. Corporate governance includes the decisions made by the management of the company and often involves a lot of issues with it. The Board of the company has been committed in providing satisfactory returns to its stakeholders, as well as, fulfilling the obligations, along with the responsibilities associated with corporate governance, in the best interest of the company. The company is working towards ensuring that the composition of the Board has the appropriate mix of skills, as well as, is as per the corporate governance standards. The company has to face issues regarding the independent status of one of its directors and had to review the position as well as relationship of all of its directors (Wesfarmers, 2015). The company also complies with the Corporate Governance Principles and Recommendations issued by the ASX Corporate Governance Council’s third edition (Wesfarmers, 2015). Wesfarmers is affected by various material sustainability issues. To help the social issues, the company supports the local communities, especially in cases of natural disasters. Further, to monitor the quality issues related to the products of the company, the company offers ‘Greener Work Place’, as well as measures the delivered in-full on time. Other issues relating to the matter of corporate governance and social responsibility relates to the inherent risk associated with the operations of Wesfarmers, for instance, the safety incidents, the supply chain issues, and the products-services liability risks. The company is constantly engaged with its stakeholders to understand the issues which affect them (Wesfarmers, 2015). These issues are addressed and the progress is reported in the sustainability report of the company. The sustainability issues are managed by the Board of the company at divisional level and are regularly reported. In the following parts, these issues affecting the various stakeholders of the company, in line of the G4 GRE Guidelines have been highlighted. The company has been following a range of G4 GRI Guidelines (Wesfarmers, 2015). The level of self-adherence of these guidelines has been summarized below: G4-DMA, G4-EN15, G4-EN16, and G4-EN17 Social: Labor Practices And Decent Work Equal Remuneration For Women And Men Supplier Assessment For Labor Practices Freedom Of Association And Collective Bargaining The level of adherence of these guidelines for the year 2014 and 2015 has been summarized below. A comparison has also been made, along with the comments on the noncompliance of the particular guidelines. The company is responsible for providing employment to one out of 55 Australians. The company earns 98% of its revenues from the country, as well as, 75% of the shares of the company on issue, are held in the country (Wesfarmers, 2014). The company had employed 207282 people till June 2014. The statistics reveal that for the year 2014, the company had made direct contributions amounting to 44.6 million dollars and the indirect contributions amounting to 50.8 million dollars (Wesfarmers, 2014). This makes the community contributions, by the Wesfarmers group as 95.4 million dollars (Wesfarmers, 2014). The company meets the very basic needs of the community by providing food, tools, as well as, clothing to the community. The company is responsible for providing employment to one out of 59 Australians (Wesfarmers, 2015). The company has been paying taxes regularly and also provides the necessary support to the nonprofit organizations. The company earns 98% of its revenues from the country, as well as, 80% of the shares of the company on issue, are held in the country (Wesfarmers, 2015). This creates a major positive impact on the economy of Australia, along with contributing to the other economies. The company paid $43,045 million to the suppliers, in addition to the wages and salaries, where the company paid more than $7,830 million to its 205000 employees. Further, the company paid $1,578 million in royalties, taxes, and levies, and $2,246 million in dividends to our 500,000 shareholders (Wesfarmers, 2015). The company has contributed $50 million to community organizations which equals to 1.5 per cent of profit before income tax. Further, the company has assisted in donations from employees and customers, which totals to $52.7 million (Wesfarmers, 2015). The statistics reveal that for the year 2015, the company had made direct contributions amounting to 50 million dollars and the indirect contributions amounting to 52.9 million dollars. This makes the community contributions, by the Wesfarmers group as 102.9 million dollars (Wesfarmers, 2015). A special attention is paid in the matters like gender diversity, as well as, the inclusion of the Indigenous people. The company has increased the share of providing employment to the people. Further, the company has also increased the share on issue within the country. The company is regularly paying special attention to the matters like gender diversity, as well as, the inclusion of the Indigenous people. So, in comparison to 2014, in the year 2015, the company has maintained and excelled at it’s the G4 GRI Guidelines. The company noticed a decrease in the emissions intensity, along with increasing the activities of recycling. The Scope 1 and 2 emissions intensity showed a decrease by eight per cent as compared to 2013. The green house emissions by Coles decreased this year, but the emissions at Target increased by 6.8 per cent. The company is also trying to reduce the usage of water, along with finding more sustainable sources of water (Wesfarmers, 2014). The company monitors and manages its greenhouse gas emissions, along with the possibility of reducing them. The company has realized the importance of reducing waste creates not only environmental benefits, but benefits for the business as well. And so, the company has taken steps to divert its waste to recycling throughout the entire life cycle of the product. The company is also trying to reduce the usage of water, along with finding more sustainable sources of water. The company has taken steps to protect the biodiversity. In order to manage this, the company has established an offset area at Mt Flora, so as to compensate the loss of 220 hectares to the ecological community. The Scope 1 and 2 emissions (CO2e) totaled to 4,011,584. The Scope 33 emissions (CO2e) contained the transport emissions at 13000, the air travel at 27337, the waste at 154701, the transmission and distribution of electricity at 474,622, and the LPG, natural gas and diesel at 103,110. The Equity proportion of joint venture businesses (CO2e) were reported at 275140. And the Emissions intensity (CO2e/$1 million revenue) was at 64.2 (Wesfarmers, 2015). There was a one percent decrease in the Scope 1 and 2 emissions (CO2e). The Scope 33 emissions (CO2e) are not comparable directly as the transport emissions were not included last year. If the transport emissions are excluded, there is a seven percent decrease in these emissions. There has been a four percent increase in t the Equity proportion of joint venture businesses (CO2e). And the Emissions intensity (CO2e/$1 million revenue) reported a one percent decrease. So, it can be seen that the emission intensity of the company has decreased overall. The Company is continuously trying to reduce the usage of water, along with finding more sustainable sources of water. The Total Recordable injury frequency rate was 42.7 this year. The Lost time injury frequency rate for this year was 7.7 percent. The workers’ compensation claims for 2014 were 6940 (Wesfarmers, 2014). As covered above, the company provides employment to one out of every 59 people in Australia. 59 percent of the wealth of the company is distributed in terms of wages, benefits and salaries to the employees. The safety of the workplace is the highest priority for the company. The Total Recordable injury frequency rate was 39.5 this year. The Lost time injury frequency rate for this year was 7.3 percent. The workers’ compensation claims for 2015 were 7462 (Wesfarmers, 2015). There has been a 7.5 percent improvement in the Total Recordable injury frequency rate.   The Lost time injury frequency rate was reduced by 5.2 percent. The workers’ compensation claims decreased by 7 percent. The company failed to provide the breakdown of its employee turnover as per age group; the breakdown of Total Recordable injury frequency rate and the Lost time injury frequency rate; and the aggregate ratio. The company focused towards improving the ethical sourcing of its products. This was done by strengthening the supply chain, as well as, increasing the transparency. The company sources its products from a wide range of location. Some of these nations follow lower levels of regulations and hence, the company is vigilant regarding the associated risks. The company also follows an ethical sourcing policy by setting minimum standards. The company failed to provide the percentage of the employees it trained. The company complies with all the laws, as well as, regulations of all the countries, in which it conducts its business and acts in an ethical way. The anti-bribery policy of the company prohibits the political donations at both business unit, as well as, divisional level. If any such contributions are made, they are thoroughly published on the website of the company. And for the year 2014, no such contributions were made. The company also considers the needs and the interests of its stakeholders. The Company incurred significant fine to the amount of $10 million in penalty by the ACCC for Supplier Unconscionable Conduct, along with a $2.5 million penalty for ACCC/bread litigation case (Wesfarmers, 2015). The compliance levels have been same in both the years. Though, the significant fines were incurred in certain cases in the year 2015, which was not the case in 2014. This implies that the level of compliance has been breached in 2015. The company has continued the innovation of the range of its products, as well as, its categories across all businesses. The company is also committed towards delivering safe and sustainable products, as well as, services to its customers. Even though there are minimal particular legal requirements for the restrictive use of chemicals in production, the company has decided to adopt a range of such aspects of the European Community Regulation. Coles had a significant fine to the amount of $38,250 for incorrect importation classification of cat litter (Wesfarmers, 2015). The company failed to provide the percentage of the categories of the products. In comparison to 2014, the company incurred significant fine in 2015, so, in this aspect also, the company has declined. The company submitted this report for the GRI Content Index Service. The accuracy of the GRI G4 Content Index was then, confirmed by the GRI. Since, the reported was directly confirmed by GRI, the need for assurance, does not arise. The sustainability report for both 2014 and 2015 did not cover clear and defined targets. Further, this report was not user friendly, as a person had to toggle between lots of windows to find the relevant information, pertaining to a particular guideline. And even after that, some of the information was not available easily and had to be searched from the Annual Report. Though, the company has covered all the relevant applicable guidelines which are applicable on it. The Guidelines followed by the company, in 2014 (Australia) and 2015 (Japan), have been compared below: G4-DMA, G4-EN15, G4-EN16, G4-EN17, G4-EN18, G4-EN19, G4-EN20, and G4-EN21 G4-DMA, G4-EN22, G4-EN23, G4-EN24, and G4-EN26 Supplier assessment for labor practices Equal remuneration for women and men Labor Practices Grievance Mechanisms Freedom of Association and Collective Bargaining Supplier Assessment for Impacts on Society Grievance Mechanisms for Impacts on Society The G4 GRI Guidelines are company specific, industry specific, and country specific. The business of each company varies from the other, in some aspect or the other. These aspects result in a difference in the adherence to the guidelines. Further, the decisions of the senior management, as well as, the strategies of the companies, influence which guidelines would be adopted by it (Salter Baxter, 2012). The strategic priorities, along with the targets of the firm, also have an impact on the selection of these guidelines (GRI, 2016). The nature of the work of a company, also changes the adherence to these guidelines. For instance, a vehicle manufacturing company would have to follow different guidelines, as compared to a food manufacturing company. Organizations have a range of topics, which they could report. The relevant topics would be such that reflect the entity’s economic, environmental, as well as, the social impacts on the stakeholders. Materiality is the starting point, according to which the Aspects become adequately significant, in a way that the need of reporting them, arises. A blend of the external, as well as, internal factors determines whether the Aspect is material (GRI, 2016). This includes the factors like the mission, vision, competitive strategy, concerns of stakeholders, social expectations, and the influence of the entity on the suppliers, as well as the customers. The second factor that influences the applicability of these guidelines is the industry. The type of the industry also has an impact over the applicability of these guidelines (GRI, 2016). For example, the polluting industry would have different guidelines applicable on it as compared to a non polluting industry. The last factor, the one applicable in this case, is the country specific guidelines. Even though the G4 GRI Guidelines are uniform across the globe, but each country has a different set of applicable legislations (GRI, 2016). And so, depending upon such applicability, these guidelines apply on the company. The sustainability report of Fuji Xerox comparison for 2014, was made in Australia and the sustainability report of Fuji Xerox comparison for 2015, was made in Japan. So, to summarize, the legislations, along with the internal and external factors of the company, are responsible for the difference in the reports produced in Australia (2014) and Japan (2015). The company has grown in the Australian market, from AU$400 million in 1999 to about AU$1 billion in 2014 (Fuji Xerox, 2014). Despite the changes in the industry, the company has improved upon its profitability, as well as, has been successful in creating suitable growth, along with financial stability for the longer run. But the company achieved the consolidated revenues to the amount of AUS$1 billion which was a 3% decline in comparison to previous year (Fuji Xerox, 2014). The community investment amounted to $506412 with 3412 hours of volunteering in order to nurture the future generation. For the year 2014, 57.3 percent of the company’s procurement expenditure was on equipment, which equated to AU$580 million, towards the supplies, as well as, consumables. This was the most significant aspect of the company’s supply chain (Fuji Xerox, 2014). The consolidated revenue and the consolidated net income before income taxes for this year amounted to 1188.9 billion yen and 91.9 billion yen respectively (Fuji Xerox, 2015). There was a remarkable improvement from the last year in the revenues, as well as, ordinary profits. The goals were set for social contribution spending as this segment noticed a decline as compared to previous year. Though there was an increase in the number of participants compared to the previous year. For the year 2014, the air freight to the sea freight split was reported at 4.1% to 95.9%, which was a 1.5% improvement as compared to the previous year. Objectives were set for 2015 regarding the â€Å"procuring responsibly outlook†. All of the mills fulfill an annual based environmental questionnaire to meet the ISO 14001 and ISO 9001. Further, these are monitored for compliance as per the labor standards, specially pertaining to the child labor aspects. The paper sold to the customers of Australia, were a 100% FSC carbon neutral, PEFC certified, FSC certified or made out of recycled material (Fuji Xerox, 2014).   The company is focused towards recycling as well as reducing the CO 2 emissions throughout the life cycle of the products. Out of the 83% of the employees who commenced the annual performance review cycle for this year, only 49% of them could complete the formal review process. 45% of the female and 50% of the male workforce completed these reviews. Further, extensive sales training was undertaken during this year (Fuji Xerox, 2014).   The company has identified its risks and opportunities in this segment, as well as, has set standards to be achieved during the coming fiscal years. During this year, no judgments were made, regarding discrimination, against the company or any of its employees. The few complaints which were received from the employees, including the complaints regarding discrimination, were handled strictly, and appropriate process was taken up to take the necessary actions after determining the facts. The company has identified and outlined a high priority management theme which takes into account the social circumstances, the nature of the business, and the management goals. High priority is placed on the communication as well as monitoring in order to help the management in incorporating the stakeholder evaluations along with the feedback into the management process. Due to stringent ethics and compliance norms, the company is able to fulfill its commitments towards anti-corruption and anti-competitive behavior. The company understands the needs of its customers and delivers on its promises. Through these, the company is able to deliver value to its customers and benefiting the environment through the Green Print technologies, as well as, services, sustainable paper supplies together with the new NCOS carbon neutral certified products, as well as, optimized print environments. The company has recognized the importance of product safety and has made it an overriding priority. This year also, the company held a product safety forum to eliminate product safety accidents. From the above data, it can be deduced that the 2014 sustainability report prepared in Australia, follows lesser norms as compared to the 2015 sustainability report prepared in Japan. Due to the stringent policies in Japan, the same company has to follow a lot more guidelines. Further, the targets have been more clearly set in the 2015 report, which was clearly missing in the 2014 report. Corporate governance, sustainability and social responsibility are interlinked terms and none of it can be used exclusively. Each of these terms intertwines their paths, in one aspect or the other, as was seen in the case of Wesfarmers. The various issues faced by the company, Wesfarmers, included the concepts of not only corporate responsibility, but also interlinked with the G4 GRE Guidelines. From the above analysis, it can be concluded that Wesfarmers has taken a lot of steps, to ensure that it follows, both the principles of corporate governance, as well as the sustainability guidelines. The comparison of the G4 GRE Guidelines by Wesfarmers highlighted the variances in the adoption of the appropriate guidelines. But due to the number of non-compliances, as well as penalties, in the year 2015, by Wesfarmers, it is recommended to the company that it ensures that the guidelines are properly followed. Further, such instances also portray that the principles of corporate governance are not adequately followed, and hence, the company needs to follow these principles in a proper manner, and ensure that the incidents of penalties, are not repeated. From the above analysis of the two companies, it can be concluded that a lot of factors impact the G4 GRI guidelines reporting by a company. A same company, in two different companies can face disparities in the reporting guidelines. Further, the type of the company decides the applicability of the particular guideline on a company. And from the above analysis, it is recommended to the Wesfarmers Limited, to set out particular targets to be achieved regarding the adopted guidelines. Further, the company has to ensure that it follows the guidelines, instead of getting cases established against it, which are detrimental to these guidelines. Fuji Xerox had presented two different reports, due to the change in the nations. Being in different nations, different guidelines are to be followed by the company. To conclude, the reason for variance in the sustainability reporting of Fuji Xerox is the result of the applicability different standards. So, it is it is recommended to Fuji Xerox, to follow the same set of guidelines, throughout all its branches, whether in this country or in Japan. This can be done as the guidelines are uniform across the globe, and so, common guidelines can, in fact, be adopted. Furthermore, Fuji Xerox Australia Pty Limited should set out specific targets as is done by its Japanese counterpart. This assignment was formulated in a way, so as to test my skills regarding the location, as well as, interpretation of the information. Before starting this assignment, I was under the view that the G4 GRI Guidelines just cover the aspects in a broad and general manner. Further, I was under the impression, that a small report could cover every aspect of this guideline. However, my views were changed when I undertook this assignment. The first thing I learned was the number of disclosures undertaken by a company and the extent of disclosures. Even though the headings state economic, environment and social, but it is more than it. Each aspect had a number of standards to be followed. This assignment helped me in clarifying how the corporate governance issues affect the working of any company. Before starting of this assignment task, I had read many principles of corporate governance, but the practicality of such principles was highlighted only after reading about the issues associated with it, in the case of Wesfarmers. The detail and extent of such issues, and the care taken by the companies to ensure the proper compliance, made me realize the importance of such principles. By analyzing the data of two companies, over two years, especially when one of it had reported the two reports in different countries, has given me an idea about the factors that have an impact on the applicability of these standards. The integration of these guidelines in the functioning of these companies was also worth noting. Though, a huge issue that I encountered while making this assignment was the difficulty in locating the information, especially for the part A of this assignment. The information was not properly presented in case of Wesfarmers, but for Fuji Xerox, the information was easily accessible, as well as, interpretable. By gaining the insights on these guidelines in the working of the companies, I was able to clear my concepts related to the integration of reporting in the Aspects covered under these guidelines. Further, this knowledge would help me in my future jobs, as now I have attained a practical understanding regarding the aspects associated with the sustainability reporting. In the future, when I become a manager, or a part of the higher management, this understanding would help me in applicability of the various regulations and standards followed by the companies. Further, by carrying out real time case study of two companies, I have gained insight on how to resolve the issues associated with sustainability and corporate governance. Fuji Xerox. (2014) Fuji Xerox Australia Sustainability Report 2014. [Online] Fuji Xerox. Available from: https://www.fxasustainability.com.au/2014/report.php [Accessed on: 07/10/16] Fuji Xerox. (2014) GRI G4 content index in accordance - Core. [Online] Fuji Xerox. Available from: https://www.fxasustainability.com.au/2014/gri_g4_content_index_in_accordance-core.pdf [Accessed on: 07/10/16] Fuji Xerox. (2014) Report Centre 2014. [Online] Fuji Xerox. Available from: https://www.fxasustainability.com.au/2014/ [Accessed on: 07/10/16] Fuji Xerox. (2015) GRI Guidelines. [Online] Fuji Xerox. Available from: https://www.fujixerox.com/eng/company/sr/2015/guidelines.html#sec10 [Accessed on: 07/10/16] GRI. (2016) G4 Sustainability Reporting Guidelines. [Online] GRI. Available from: https://www.globalreporting.org/standards/g4/Pages/default.aspx [Accessed on: 07/10/16] GRI. (2016) Materiality. [Online] GRI. Available from: https://g4.globalreporting.org/how-you-should-report/reporting-principles/principles-for-defining-report-content/materiality/Pages/default.aspx [Accessed on: 07/10/16] Salter Baxter. (2012) The five things you really need to know about GRI G4. [Online] Salter Baxter. Available from: https://www.salterbaxter.com/the-five-things-you-really-need-to-know-about-gri-g4/ [Accessed on: 07/10/16] Wesfarmers. (2014) 2014 Sustainability Report. [Online] Wesfarmers. Available from: https://www.wesresources.com.au/sustainability_report_2014/ [Accessed on: 07/10/16] Wesfarmers. (2014) Sustainability Report 2014. [Online] Wesfarmers. Available from: https://2014.sustainability.wesfarmers.com.au/ [Accessed on: 07/10/16] Wesfarmers. (2015) 2015 Annual Report. [Online] Wesfarmers. Available from: https://www.asx.com.au/asxpdf/20150917/pdf/431d8fyj0rz8zy.pdf [Accessed on: 07/10/16] Wesfarmers. (2015) 2015 Sustainability Report. [Online] Wesfarmers. Available from: https://www.wesresources.com.au/sustainability_report_2015/ [Accessed on: 07/10/16] Wesfarmers. (2015) GRI G4 Content Index. [Online] Wesfarmers. Available from: https://www.sustainability.wesfarmers.com.au/our-data/gri-g4-content-index/ [Accessed on: 07/10/16] Wesfarmers. (2015) Sustainability at Wesfarmers. [Online] Wesfarmers. Available from: https://sustainability.wesfarmers.com.au/our-approach/sustainability-at-wesfarmers/ [Accessed on: 07/10/16] Wesfarmers. (2015) Sustainability Report 2015. [Online] Wesfarmers. Available from: https://2015.sustainability.wesfarmers.com.au/ [Accessed on: 07/10/16]

Bitcoin and its effect on microeconomics Research Paper

Bitcoin and its effect on microeconomics - Research Paper Example Some people ask themselves why Bitcoins. People can use them to buy goods and services anonymously. Another key reason why people prefer this kind of currency is the fact that they make international payments, not only easy, but cheap as well. This is because the currency does not belong to any country, and there is no a single country that regulates it. Many small businesses prefer them because they do not have fees like some medium of exchange, for example, the credit cards. Some investors buy this currency for investment purposes. For example, some buy them hoping that the value would go up in the future (Böhme, 2013). One may wonder how they could acquire the currency. There are numerous marketplaces where individuals can buy and sell the currency using other currencies like the dollar or Euro. These marketplaces referred as Bitcoin exchanges. People store Bitcoins in digital wallets existing in their user’s computer. It is like a virtual bank account and allows the owner of the Bitcoins to send them or receive them, save them, or pay for products or services. One of the key effects of Bitcoins is the fact they would reduce trade barriers. This would not only increase the global income, but also the global production. A key reason why Bitcoins would reduce trade barriers is the fact that there is no a single country that regulates or controls them. Therefore, there is no transaction friction. Individuals can make transactions easily and fast (Böhme, 2013). There are no transaction costs. The fact that there is no intermediary like a bank makes transactions fast. The fact that there are no additional charges makes goods and services cheaper. This increases the consumer surplus and so is their utility. People can afford more and cheaper goods, which increases their level of satisfaction. They would boost