Existentialism and the Meaning of Life Essay Example for Free

Existentialism and the Meaning of Life Essay This paper will discuss the existentialist position and how different societal factors contribute to the creation of different meaning in a person’s life. It will study how value systems are formed and will borrow heavily from Jean Paul Sarte’s concept of â€Å"existence precedes essence.† It is important to note that the author will present the arguments and correlate it with the two films that were used in writing this paper. First, I will explain the meaning of life and how it is created. Next, there will be a brief discussion on how state apparatuses like religion and the government keeps aims to keep the meaning of people’s lives in certain restrictive areas. Then I will outline the different arguments of existentialist philosophers particularly that of Sarte and Albert Camus. â€Å"Man is nothing else but what he makes of himself† (Miller Jensen, 2006). People are all born out of the wonders of biological functions but as people leave the protective womb of their mothers, they will be exposed to different stimulants in the environments. And this will prompt them to learn things different from how other people learn it. Therefore, a man is a sponge who absorbs information in very unique ways. And the things that were absorbed create a man who has an equally unique reason for the meaning of his existence. The very question of life is what paved the way for the existential branch of philosophical studies. It is by way of nature that beings search for the meaning of life. But humans as we are, there will be different interpretations of the meaning of life. Each person is blessed with the unique ability to identify different reasons for his existence. And there are also different perspectives used to uncover the meaning of life. Thus, for this paper we will use Jean Paul Sarte’s theory of â€Å"essence precedes existence†. Backgrounder The ultimate goal in finding the meaning of one’s life is to â€Å"make a rational sense out of life† (Stewart Blocker, 1987). Self actualization is one of the things specified in the hierarchy of needs. And in order to know the personality of one’s self, it is fundamental to make sense of life in itself. Unlike the perspective of the absurdists—people who focus on the â€Å"meaninglessness of life and the vacuity of human existence† (Stewart Blocker, 1987)—existentialists seek meaning in the rather meaningless world in order to affirm the significance of their existence.

Regulating Iron Metabolism

Regulating Iron Metabolism Introduction Iron is an essential nutrient for many organisms as it aids in numerous cellular processes such as oxygen transport and DNA synthesis. In overload, iron generates free radicals that damage both proteins and lipids. On the other hand, a deficiency of iron undermines cell proliferation. Iron metabolism: an outline An adult manages to take up around 1-3mg of iron a day, in order to make up for any losses through sweat, urine and dying red cells. Non-heme iron is taken up by red cells through bivalent metal transporters, also heme iron is taken up by red cells though an undefined mechanism. Regulation of iron metabolism Keeping a constant cellular iron content is important and therefore the body has developed precise mechanisms for the regulation of uptake storage and export of iron. The Iron-Responsive Element (IRE)/ Iron Regulatory Protein (IRP) regulatory mechanism consists of a mechanism responsible for regulating post-transcriptional gene expression to maintain iron homeostasis. It involves two RNA binding proteins Iron-regulatory protein 12 (IRP 1, IRP 2) and a regulatory RNA elements known as Iron Responsive Elements. IRE/IRP interactions control the expression of mRNA sequences that encode for proteins responsible for iron acquisition (divalent metal transporter 1 and transferrin receptor 1), storage of iron (H-ferritin and L-ferritin) iron utilization (erythroid 5-aminolevulinic acid synthase), energy (mitochondrial aconitase), and iron export (ferroportin) (Muckhentaler, et al., 2008). The processes responsible from binding IRP1 and IRP2 to IRE are regulated mainly by iron levels, although other stimuli do exist, such as hypoxia and nitric oxide. In cells which have high iron levels, the IRP/IRE binding activity is low as IRP 1 2 are incapable of binding to IRE. In such conditions, IRP1 would set up an iron-sulphur cluster (Fe-S) which in turn transforms into cytosolic aconitase, whereas IRP2 would become degraded through the action of the proteosome. This means that only in iron-depleted cells would the IRP proteins bind to IRE. Both IRP 1 2 hinder translation initiation when bound to the 5’Untranslated Region of IRE, by inhibiting the binding of the small ribosomal sub-unit to the mRNA sequence (Muckenthaler, et al., 1998). In addition, when IRP1 is bound to a cap proximal IRE, and hence the cap binding complex (eIF4F) is produced. At this point the small ribosomal sub-unit does not incorporate in the presence of IRP1 which hinders any interactions needed between the cap binding complex and the small ribosomal sub-unit. The association of IRP 1 with the 3’IRE of transferrin receptor 1 reduces its turnover by hindering the cleavage of a restriction site and eventually its mRNA degradation (Binder, et al., 1994). The mechanism that stabilizes IRP mRNA has not yet been well investigated for other 3’IRE containing mRNA’s like CDC14A and DMT1, which contain one 3’IRE site and could require other factors in order to be regulated. Therefore, it can be said that the binding of IR P 1 2 ensures iron balance and no over expression of target mRNA molecules. The IRP/IRE system was primarily described as a non-complex post-transcriptional gene expression which regulates the formation of ferritins and transferrin receptor 1. The discovery of other mRNA sequences associated with this system has increased the complexity and has enhanced the role of IRP proteins to connect different pathways, which are regulated by iron metabolism. Assessment of Iron Status Iron studies are a group of tests that are performed in order to evaluate the status of the iron stores as well as the concentration of iron in serum. Tests that are performed when an Iron profile is ordered may include: Serum iron Total Iron-Binding Capacity (TIBC) and/or Unsaturated Iron-Binding Capacity (UIBC) Transferrin Ferritin Transferrin receptor Transferrin Saturation Serum iron is a measure of the amount of iron present in blood and usually does not diminish until iron stores are depleted. It is ordered normally as a follow-up when low levels of haemoglobin and haematocrit are observed on a complete blood count. An increased level of iron can be due to ingestion of iron (e.g. food or medication) or ineffective erythropoiesis. On the other hand low iron levels might be the result of: infection, menstruation, inflammation, malignancy or iron deficiency. Total Iron-Binding Capacity (TIBC) is also used to measure the status of iron in blood. It can be either measured or else calculated based on the level of transferrin in the blood. TIBC and serum iron can then be used to calculate percentage transferrin saturation, which is a much better index for iron status than serum iron or TIBC alone, using the flowing calculation: The 26.1 value is used as a constant to convert Transferrin to an equivalent TIBC concentration. UIBC is normally used as an alternative to TIBC. Percentage transferrin saturation (TSAT) is a measurement of the amount of iron which is effectively bound to transferrin, therefore indicting the amount of iron which is available to sustain erythropoiesis. A low TSAT may be indicative of infection, erythropoiesis, inflammation or iron deficiency. Whereas, an elevate value might mean haemochromatosis, liver disease, ineffective erythropoiesis or recent ingestion of dietary iron. Transferrin is the plasma protein responsible for the transport of iron inside the body. It is also habitual to test for transferrin (apart from TIBC or UIBC) as this is a better indicator of the patient’s nutritional status and to some extent an indicator of liver function, since transferrin is produced in the liver. Low levels of transferrin can be observed with liver disease, however transferrin may also drop in malignant tumors and if not enough dietary protein is taken up. On the other hand, high levels can be observed with iron deficiency and during pregnancy. Iron can be stored intracellularly in the form of ferritin. Ferritin is a protein which stores iron in a non-toxic form. It is a sizeable molecule with a core of ferric hydroxide phosphate. It is considered to be the best indicator of iron stores in the body. Low levels of ferritin are normally indicative of iron deficiency or a response to therapy involving erythropoietin, whereas high levels might be due to inflammation, malignancy or infection. Soluble transferrin receptor (sTFR) does not necessarily feature in an iron panel; however it is worth mentioning since it helps distinguishing between iron deficiency anemia and anemia of chronic disease. It is normally ordered in the case that an iron panel does not give enough information to reach a conclusive diagnosis. Usually to evaluate the status of iron stores ferritin is the preferred indicator. However, it is an acute phase reactant, meaning that it can give a falsely elevated value with inflammation or chronic disease. Seeing a, sTFR is not an acute phase reactant, it can be used as an alternative in case chronic disease is suspected.

A literature review on corporate social responsibility

A literature review on corporate social responsibility Corporate Social Responsibility has earned much salience over the last decades in academic literature. The literature offers various interpretations of the concept of corporate social responsiveness. The concept is understood as a process or set of processes on the way a firm approaches its environment. It is argued that business and society are interwoven: society has certain expectations regarding business and therefore the firm has responsibilities towards society. Hence, being a steward of the needs of society is deemed to be a socially responsible, appropriate, and natural act. The first book acknowledged on CSR is the Social Responsibilities of the Businessman by Howard R. Bowen in the mid 1950s. But, the term CSR came in widespread use in the early 1970s. In fact, it owes its origin due to the globalisation which took place after many multinational corporations were formed. In brief, globalisation means an increase in international transactions in markets for goods, services and factors of production and a growth in institutions that straddle international barriers. All these developments have brought in force the corporate governance mechanisms to ascertain fairness and transparency as well as social responsibility. Thus, this is how CSR was shaped and came into existence in the corporate world. 2.1.1 CSR across Countries CSR, also known as corporate responsibility, corporate citizenship, responsible business, sustainable responsible business (SRB), or corporate social performance, is all but a form of corporate self-regulation integrated into a business model where companies manage the business processes to produce an overall positive impact on society. CSR has been defined in various ways in different countries, of about being the capacity building for sustainable livelihoods from Ghana to about giving back to society from Philippines. Conventionally, in the United States, CSR has been presented in a philanthropic model whereby companies make profits and then they donate a certain share of the profits to charitable causes. It is seen as tainting the act for the company to receive any benefit from the giving. As such, according to Caroll (2003), The social responsibility of business encompasses the economic, legal, ethical and discretionary (philanthropic) expectations that society has of organisations at a given point in time. The European model is much more focused on operating the core business in a socially responsible way, complemented by investment in communities for solid business case reasons and voluntary interaction with the stakeholders. Ideally and broadly, the concept of CSR is a built-in, self-regulating mechanism whereby business would monitor and ensure its support to law, ethical standards, and international norms. 2.1.1 Views on CSR According to Hancock (2005), CSR can be viewed through 3 ways namely: Sceptic view According to this view, the notion of CSR is opposed to democracy and freedom, frustrating business focus on its purpose of wealth creation. Milton Friedman best defines this approach: Few trends would so thoroughly undermine the very foundations of free society as the acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as they possibly can. Utopian view A utopian view of CSR reflects the idea that companies have a prior duty to anyone touched by their activity, their stakeholders rather than their shareholders, and especially the vulnerable that may be exploited by the companys operation. This is based on the work of Evan and Freeman who are for the stakeholder theory where a corporation must recognise and respect the vital interests of each of its surrounding stakeholders. Realist view This view gathers the greatest following of an alliance model advocated by Patricia Werhane. It states that CSR is not simply about whatever funds and expertise companies choose to invest in communities to help resolve social problems. But, it is also about the integrity with which a company governs itself, fulfils its mission, lives by its values, engages with its stakeholders, measures its impacts and reports on its activities. 2.1.2 The Key Drivers CSR is seen by Porter and Van Der Linde (2000, p. 131) as a competitive driver that requires appropriate resources. CSR programmes, however, on their own, have certain main drivers which are as follow: Bottom Line Effect This is the most relevant driver of CSR programmes as it incorporates a socially responsible element into corporate practice. As John Elkington (1997) rightly underlined that many companies exhibit corporate citizenship through charity or philanthropy. Nevertheless, a new perspective evolved over time for some corporate stakeholders. Success of a corporation is now weighted and defined by evaluating businesses using a Triple Bottom Line comprised of its social, environmental and financial performance. Managing Risk An endeavour to adopt CSR programme has been the gain in market share, key personnel and investment which pioneering companies enjoy when they seriously address labour and green issues. In fact, corporations implement such a programme to manage risks and ensure legal compliance as denoted by Levine Michael A. (2008). They try to avoid investigation, litigation, prosecution, regulation or legislation. Influence of the Corporate Disasters There has been an increased perception of greed amidst senior business officials in the corporate world following corporate scandals affecting Enron, WorldCom and the like. CSR is important in counteracting allegations of corporate greed. As a result, as described by Hancock (2005) in his book, corporations are now shifting away from the philanthropic approach towards CSR and are moving towards the greater alignment of CSR with business strategy and corporate governance. Lower Equity Risk Premium Reputation Management Corporations can face economic damage when their corporate reputations and brands are assailed or sales are affected by consumer boycotts. As argued by some rating agencies, a comprehensive CSR programme will lower a companys equity risk premium. A direct correlation between reputation and financial outcome measures share price and credit rating (Hancock, 2005) has been illustrated through a model designed by the global public relations company Bell Pottinger. In fact, companies may face a variety of legal and reputational risks if they do not have adequate social compliance or corporate social responsibility/sustainability programs in place. Customer Loyalty In todays markets, companies have to focus on building and maintaining customer loyalty. As proposed by Zhou Y. (2009), this can be done through a CSR programme which builds loyalty with customers by offering a competitive advantage in a marketplace where consumers find ethically delivered or produced goods and services. Stakeholder Activism Investment Incentives As perceived by Visser, W. (2008), CSR is encouraged through the activism of stakeholder or pressure groups which often address the alleged failure of the market and government policy. The trend of socially responsible investment gives CSR an incentive where funds are screened on ethical, social and environmental criteria. Thus, this proactively encourages businesses to inform shareholders of potential risks and issues and it helps them to better understand their stakeholders, including shareholders. According to Hill Knowltown (2006), surveys have indicated that analysts place as much importance on corporate reputation as they do on financial performance. 2.2 Theoretical Review A theoretical framework can be constructed around the several theories that emerged to explain the reasons behind environmental reporting over the time. These are as follow: Operational Efficiency Theory Operational Efficiency occurs when the right combination of people, process, and technology to boost the productivity and value of any business operation, while reducing cost of routine operations to a desired level. In the context of CSR, operational efficiencies can be achieved through managing impending risks and liabilities more effectively and efficiently through CSR tools and perspectives by reducing costs; streaming information to stakeholders concerning the investment community for better transparency and by using corporate responsibility and sustainability approaches within business decision-making to result in new market opportunities, newly developed manufacturing processes that can be expanded to other plants, regions or markets. Social Contract Theory This theory dates from the classic period of history but it took its modern form between the sixteenth and eighteen centuries with the best known philosophers like Thomas Hobbes, John Locke and Jean Jacques Rousseau who talk on social contract. Rousseau, in fact, conceptualised the individual-society relationship as a symbiotic situation whereby the two parties mutually confer some right to the state in order to maintain social order which makes human life and cohabitation better and to gain benefits of community and safety. In parallel to the social contract, the corporate social theory, pertaining to a firms indirect social obligations, has been advanced as a theoretical basis to explain the practise of CSR by corporations. Accordingly, businesses are bound by the social contract whereby they consent to perform various socially desired actions in return for approval of their objectives and other rewards. This ultimately guarantees its continued existence. Legitimacy Theory The theory is close to the social contract theory. Here, the corporations constantly seek to ensure that they operate within the limits and norms of their respective societies and the outside parties perceive their activities as being legitimate. Society grants legitimacy and power to business. In the long run, those who do not use power in a manner which society considers responsible will tend to lose it. This principle developed by Daviss (1973) is commonly known as the Iron Law of Responsibility. It expresses legitimacy as a societal-level concept and describes the responsibility of business as a social institution that must avoid abusing its power. Thus, this principle expresses a prohibition rather than an affirmative duty, and it applies equally to all companies, regardless of their particular circumstances. According to A.K.H. Khor, the legitimacy theory is fundamentally a system-oriented theory where organisations are viewed as components of the larger social environment within which they exist. Stakeholder Theory A key feature of CSR involves the way that a company engages, involves, and collaborates with its stakeholders including shareholders, employees, debt-holders, suppliers, customers, communities, non-governmental organisations, and governments. Companies can use stakeholder engagement to internalise societys needs, hopes, circumstances into their corporate views and decision-making. While there are many questions about how far a companys responsibilities extend into communities relative to the roles of governments and individual citizens, there is a strong argument that CSR can effectively improve a companys relations with communities and thereby produce some key features that will improve business prospects for its future. Agency Theory This theory comes to explain the relationship that exists between the owners/shareholders and the management. As such the latter is the agent which appointed by the principal (owner/subsidiary) and problems such as the potential moral hazard and conflict of interest are likely to occur. CSR comes as a middle way so that both parties can maximise their gains. As such, when CFP is strong, managers may reduce social expenditures in order to maximise their own short term private gains whereas when CFP weakens, managers will try to offset their disappointing results by engaging in conspicuous social programs, hence increasing their own wealth and that of shareholders as well, pursuant to the managerial opportunism hypothesis by Preston OBannon (1997). 2.2.1 Corporate Social Performance (CSP) In todays competitive market environment, business is confronted with a new set of challenges that are not only economics-related. To survive and prosper, firms must bridge economic and social systems. Maximising shareholder wealth is a necessary but by no means sufficient condition for financial prosperity anymore. A new performance measure called corporate social performance (abbreviated as CSP) is used to capture the performance of a business in the social realm allowing us to be more precise in thinking about corporate social responsibility. CSP defined as a business organizations configuration of principles of social responsibility, processes of social responsiveness, and policies, programs, and observable outcomes as they relate to the firms societal relationships (Wood, 1991), clearly shows that social performance is not limited to corporations only, but also applies to any firm and organisation. 2.2.2 Corporate Financial Performance (CFP) Most of the businesses operate with a view of yielding profits. The financial performance of a company is reflected through its policies and operations in monetary terms. These results are reflected through its return on investment, return on assets, value added, return on sale and growth in sales. Managers work in the best interest of shareholders to maximise profits. Financial performance is the most common, however, it cannot be considered as the only indicator used to measure a firms wealth. A broader definition of financial performance is accompanied by additional indicators such as short-term profits, long-term profits, market value, and other forms of competitive advantage, as noted by Jensen (2001). In todays world, for a firm to achieve a good and high level of CSP, it has to go beyond the limits of its own corporate strategies and adopt views of other stakeholders who may be directly or indirectly related to the company. 2.2.3 Corporate Social Performance and Corporate Financial Performance Since over the three decades, the study of the correlation between corporate social performance (CSP) and corporate financial performance (CSF) has gained much salience. Many studies conducted in this effect have yielded positive correlation, while others produced contradictory results with negative or non-significant different causal directions being found. In effect, there are several competing theoretical models which are proposed to explain three varying findings on the CSP-CFP link. Owing to these differing relationships, I.Y. Maroam (2006) proposes a unified theory of the CSP-CFP link that explain the different relationships that may be observed between CSR and CFP, thus basing itself on the parallels between the business and CSR domains. The concept of CSR instils in corporations the moral responsibility towards society that go beyond the goal of simply making profits for their owners and shareholders (Berman et al., 1999). As Freeman (1984) rightly pointed out that corporations should be socially responsible for both moral and practical (instrumental) reasons, by reflecting a socially responsible posture, a corporation can enhance its own performance. Thus, CSR activities can, inter-alia, be rewarded with more satisfied customers, better employee, improved reputation, and improved access to financial markets, all pertaining to improving financial performance and sustain the business. However, social accomplishments may equally involve certain financial costs which can effectively reduce profits and comparative performance. Hence, Vance (1975) came up with the trade-off hypothesis to show negative linkage between CSP and CFP whereby corporations displaying strong social credentials experience declining stock prices r elative to the market average. 2.2.3.1 CSP as Business Strategic From the above, it is clear that CSP can be used as a business strategy which can contribute to the competitive advantage of firms. A study by N.A. Dentchey (2004) on the effects of CSP on the competitiveness of organisations reveals that CSP should not be thought of an innocent adventure for executives. It is rather a strategy for achieving corporate strategies, which if not carefully implemented, may harm the competitive advantage of the firm. Competitive advantage, as seen by Porter (1996), denotes the ability of a company to outperform others from successful differentiation from rivals actions. This strategic fit between the outside environment and companies internal resources and capabilities (Hoskissoon et al., 1999) results in superior financial results, as indicated by various measures of profitability. Hence, as per Burke and Logsdon (1996), a strategic implementation of social responsibility brings benefits for all since it results in strategic outcomes such as customer loyalty, future purchases, new products, new markets and productivity gains. Arguably, CSP can be a source of competitive disadvantage for firms which regard CSP as an additional cost. Business contributions to social prosperity (CSP) are seen by Keim (1978, p.33) as an investment in public good which is consumed or enjoyed by a number of individuals disregarding the cost sharing. Thus, investing in CSP is likely to bear negative effects for the fir ms which are incurring costs that might otherwise be avoided or that should be borne by others, for example, individuals or government (Aupperle et al., 1985). 2.2.4 CSP, CFP and the Stakeholder Theory Following the above arguments, a new perspective of CSP, based on the stakeholder analysis, emerges to argue furthermore that there exists a positive relationship between CSP and financial performance. As such, S.A. Waddock and S.B. Graves (1997) propose that a tension exists between the firms explicit costs (for instance, payments to bondholders) and its implicit costs to other stakeholders (for example, product quality costs, and environmental costs). Therefore, a firm which tries to outweigh its explicit costs by increasing its socially responsible actions incurs higher implicit costs, resulting in competitive advantage. Thus, high levels of CSP are seen as indicators of superior management by Alexander and Buchholz (1982) which lead to lower explicit costs and enhanced financial performance. The stakeholder theory accompanies the concept of CSR by shedding more light on the issue of social responsibility. This theory is spread over three aspects (Donaldson and Preston, 1995) namely, descriptive, instrumental and normative. While the descriptive aspect describes and explains the theory, the instrumental aspect discloses the cause-effect relationships between stakeholder management practices and improving corporate performance. The normative aspect, on the other hand, as perceived by I.Y. Maroam (2006) emphasizes on the moral imperatives for practising stakeholder management, rather than the business benefits it may provide. A parallelism between the core business domain and the CSR domain will maximise a firms profitability. The stakeholder theory provides a framework for investigating the relationship between CSP and CFP by examining how a change in CSP is related to a change in financial accounting measures. In fact, the two concepts of CSR and stakeholder share the proposition that social responsibility affects financial performance in some way or other. This subject area has been so vastly explored that this trend is now seen as a natural progression which goes associatively with developments in the industrial and business world. There is an increasing concern and emphasize on humanity, environmental preservation and enlightened social consciousness. Thus, a new area of research began to pave its way within the field of business and society where the relationship between corporate social conduct, both toward the corporations stakeholders and the wider society, and the corporations financial performance was and is still being investigated across several countries. Over environmental issues, research h as revealed that businesses which are eco-friendly and demonstrate good CSR practices enjoy increased consumer purchase preference (Gildea, 1994; Zaman, 1996) and good economic performance (Al-Tuwaijiri, et al., 2004). A stakeholder group, as identified and defined by Freeman (1984), is one that that can affect or is affected by achievement of the organisations objectives, that is, which can be harmed as well as can help it to achieve its goals. Therefore, there is a growing need for firms to address the needs and expectations of the stakeholders to avoid negative outcomes and produce positive outcomes for themselves (Donaldson and Preston, 1995; Freeman, 1984; Frooman, 1997). Pursuant to the stakeholder theory perspective, CSP can be assessed in terms of a company meeting the demands of multiple stakeholders, ranging from cost minimisation to societal maximisation. Building on the previous mentioned definition of CSP, Wood and Jones (1995) propose that stakeholder theory is the key to understanding the structure and dimensions of the firms societal relationships. This theory thereby assumes that firms are responsible for honouring all the implicit and explicit contracts they hold with their variou s constituents. Therefore, the stakeholder theory provides a system-based perspective of the organisation and its stakeholders where it acknowledges the dynamic and complex nature of the interplay between them. The various stakeholders of the firms, such as the employees, shareholders/ financers, environmentalists, government, communities, customers and even competitors should be convinced by the management that it is working harder to satisfy them. The more important the stakeholders to the firm, the more effort the firm needs to put to uphold its relationship with the former. According to Clarkson, Donaldson and Preston et al. (1995), the stakeholder theory must place shareholders as one of the multiple stakeholder groups which managers should consider in their decision-making process. However, like the shareholders, the other stakeholders may have a say upon the firm, bestowing societal legitimacy. Notably, Bernadette M. Ruf et al. (2001) asserted that firms must address these non-shareholder gro ups demands otherwise they might face negative confrontations which can ultimately result in diminished shareholder value, through boycotts, lawsuits, protests and so on. Hence, firms have a fiduciary duty relationship not only to the shareholders, but to all stakeholders (Hasnas, 1998, p.32). So far, recognising a companys contractual relationship with the various stakeholders has been instrumental in better comprehending the relationship that CSP and CFP share. Stakeholders have expectations from the organisation. Nevertheless, these expectations may conflict with the firms limited resources leading the firm to evaluate its costs and benefits tradeoffs. Firms must thus come with measures representative of the various factors of CSP and stakeholders interests. Unlike neo-classical stockholders who were only interested in financial performance (Grouf, 1994; Shapiro, 1992), the major stakeholders of today, that is, the stockholders are more interested in the firms current and future financial benefits and social performance. 2.3 Empirical Review This section reviews the works done and methods used by researchers on the relationship of CFP and CSP. Empirical results on the correlation between these are mixed whereby some yielded in positive, some in negative or some in non-significant relationships. Basing on the stakeholder theory approach, several models on the CFP-CSP relationship have been proposed, where the largest number of investigations found a positive CSP-CFP relationship. Notably, different methods to compute indexes for CFP and CSP have been used since data on both cannot be possibly obtained in absolute figures. As such, using aggregated weights assigned to K dimensions of social performance obtained through questionnaire for CSP and using change in Return of Equity, change in Return on Sales and growth in sales as financial measures on a sample of 496 firms, Bernadette M. Ruf et al. (2001) came up with a positive relationship between CSP and CFP. They, in fact, regressed change in CSP on change in CFP. The results revealed a significant positive relationship between change in CSP and change in Return on Equity and change in Return on Sales in the long term but that with the Growth of Sales to be significantly positive only in year 0 and 1. The study suggests that improvements in CSP have both immediate and continuing financial impacts. A paper by S. A. Waddock and S. B. Graves (1997) also came up with positive linkage between CFP and CSP. An index for CSP was computed using eight attributes, rated consistently across the entire Standards Poors 500 by a rating service, which were related to stakeholder concerns. The firm financial performance (profitability) was measured using three accounting variables, namely, return on assets (ROA), return on equity (ROE) and return on sales (ROS) used to assess CFP by the investment community. Factors such as size, risk and industry which affect both CFP and CSP were taken as control variables. Used on a sample of 469 companies and using CSP as both dependent and independent variable, the results revealed that CFP does depend on CSP and vice-versa and also indicated the importance of controlling for industry in assessing such a relationship. To bring more integrity, M. Orlitzky et al. (2003) conducted a quantitative meta-analysis on the CFP-CSP relationship building on the hypothesis that CSP and CFP are generally positively related leading to competencies, learning, efficiency and reputation-building with its external stakeholders. Taking CFP as a companys financial viability through three broad subdivisions consisting of market-based (investor returns), accounting-based (accounting returns), and perceptual (survey) measures and constructing CSP through four broad measurement strategies, namely: (a) CSP disclosures (annual reports, letters to shareholders); (b) CSP reputation ratings; (c) social audits, CSP processes, and observable outcomes; and (d) managerial CSP principles and values (Post, 1991), the study suggests that corporate virtue in the form of social responsibility and, to a lesser extent, environmental responsibility can pay off, despite the CSP-CFP operationalisations can also moderate the positive associa tion. CSP appeared to be more highly correlated with accounting-based measures of CFP than with market-based indicators, and CSP reputation indices were more highly correlated with CFP than are other indicators of CSP. This meta-analysis establishes a greater degree of certainty with respect to the CSP-CFP relationship than is currently assumed to exist by many business scholars. According to Mahoney L. and Roberts R.W. (2007), there is no significant relationship between a composite measure of firms CSP and CFP. Using four years panel data of Canadian firms, they calculated a composite measure of CSP score by summing all dimension strength ratings, such as, community relations, diversity, employee relations, environment, international, product safety, and amongst others and subtracting all dimension weaknesses ratings. As concerned the CFP, following Waddock and Graves (1997a), return on assets (ROA) and return on equity (ROE) were used separately to measure a firms CFP. As CFP was expected to be positively related to CSP, a one-year lag between CFP and all independent variables (CSP, firm size, debt level, and industry) was used. Inconsistent with their expectation, they found no significant relationship between the composite CSP measure and either ROA or ROE. However, the use of individual measures of firms CSP regarding environmental and international act ivities and CFP resulted in a significant relationship providing mixed support for the business case for CSP. A study, using the Granger causality approach, by Rim Makni et al. (2008) reaffirms Mahoney and Roberts (2007) works on the non-significant relationship. However, there may also be a simultaneous and interactive negative relation between CSP and CFP, forming a vicious circle. Building on P. L. Cochran and R. A. Wood (1984) CSR-financial performance model where average age of corporate assets was found to be highly correlated with social responsibility rankings, D. J. Wood (1991) reformulated the CSP model to build a coherent, integrative framework for business and society research. The principles of social responsibility were framed at the institutional, organisational, and individual levels; processes of social responsiveness were shown to be environmental assessment, stakeholder management, and issues management; and outcomes of CSP were posed as social impacts, programs, and policies. The third part of the CSP model concerning the social outcomes was the only portion that was actually observable and open to assessment and any real performance, determined by stakeholders, existed. It was noted that stakeholders were likely to evaluate CSP differently, depending not only on their own interests, but also on their understanding and acceptance of social res ponsibility principles and their relationship to CSP. Building on this model, many researchers worked on finding the linkage between CFP and CSP. Using Wood (1991)s model, the results of a study conducted by P. A. and S.D. Stanwick (1998) showed that a firms CFP is indeed affetced by the size of the firm, and the amount of pollution emissions released. Where many numerous quantitative studies have been carried out to establish, largely in samples of multiple industries, the CSP-CFP relationship, M. Soana (2009) investigated this very linkage in the banking sector using a sample of national and international banks where social performance was proxied using content analysis, surveys, reputational measures, unidimensional indicators, ethical ratings and financial economic performance was proxied using market and accounting ratios. The eventual examination resulted in a no statistically significant link that could indicate any positive or negative correlation between CSP and CFP. The reason was that the majority of studies revised till now are also almost exclusively focused on the USA and UK markets. Corporate governance was also used as control variable, but it showed a non-significant and negative link with ROA and ROA. The study also confirmed the hypothesis that those banks that have the most transparent and efficient ownership st ructure are also the least profitable for shareholders.

Self-Reflective :: essays research papers

As I was flipping through my weekly subscription of US Weekly, I noticed a crossword puzzle featuring my favorite superstar, Britney Spears. The crossword was offering a $1 million prize to the 25th correct entry received. Breezing through the questions, I quickly mailed in my entry. About three weeks later, I received a check in the mail for $1 million! I decided to spend my prize money wisely by sharing with my family, investing it in a small business, and spending the rest for myself.   Ã‚  Ã‚  Ã‚  Ã‚  First and most importantly, I gave my parents $300,000 so they can retire, put my brother through college, and maybe take a long vacation. I also gave both my brother and sister $50,000 each, so they can pay bills, or buy whatever they want. My extended family is also very important to me, so I gave each family a $10,000 Visa Gift Card, totaling $100,000 for 10 families.   Ã‚  Ã‚  Ã‚  Ã‚  After my family was taken care of, I thought very carefully about what I wanted to do for the rest of my life. I decided to open a beauty salon because cosmetology interests me and it can be good money. With the building costs, supplies, and licenses, I spent about $95,000.   Ã‚  Ã‚  Ã‚  Ã‚  Finally, after my financial situation and family has been taken care of, I could then concentrate on myself. The first thing I did was sold my car, which got me $6,000 cash. With this money and about $86,000 more, I was bought myself a silver BMW 745i, with black leather interior and a V8 engine. I moved out and purchased a condominium in Highlands Ranch that was well furnished for $250,000. Of course with my new car and a new home, I had to go shopping for a brand new wardrobe and accessories. After five rough days of shopping, my expenses totaled out to $40,000. At this point, I was left with $29,000, which I put in a savings account for emergency purposes.   Ã‚  Ã‚  Ã‚  Ã‚  Although it’s sad that most of the million dollars is now gone, and I was once considered a â€Å"millionaire,† the things I spent the money on turned out to make everyone who is important to me happy.

Sambia And Hutterite Societal Threats :: essays research papers

Threats are everywhere. Every community in the world faces some sort of threats from time to time. These threats can be large or small, can come from inside or outside of the colony, and can have devastating effects on the group as a whole or as individuals. Quite often, parallels can be drawn between societies that have nothing to everything in common. This is found when comparing two dramatically different groups in the Sambia and the Hutterites. When first comparing the Hutterites and Sambia, one notices the glaring differences. The Sambia are a tribe living in the jungles of New Guinea. The Hutterites are a group that lives communally on large farm areas. The Sambia live what looks to most an uncivilized and savage way of life. The Hutterites live in established communities with many modern conveniences. The Sambia is a black tribe, while Hutterites are white. After these obvious differences, it is hard to imagine that there would be anything in common between the two groups. Looking deeper into the groups, it is easy to find several instances where they have very similar societal threats. Both the Sambia and Hutterite groups face threats from inside their communities. These internal threats can be very minor to something that might tear the group apart. One example of an internal threat comes from the sex differences that exist in each group. Both the Sambia and Hutterites have specific male and female gender roles. The Sambia men are the warriors, leaders and hunters. The women cook, raise children and gather certain crops. In the Hutterite community, the men are farmers, both group and spiritual leaders, and top of the hierarchical ladder. The women have the household duties of cleaning, cooking, child rearing and clothes making. There is no deviation from these distinct gender roles. In both societies, women are seen as being beneath the men and having to follow the orders of men. In both of these groups, the women marry in from an outside group. The women come into the home of the husband, with all of his family and friends surrounding them. She does not know anyone there, and must start anew. This and the distinct gender roles lead to male and female subcultures. The Sambia women do not understand the men's rituals, make fun of them and do not share in the joy they receive from the process.

Permanent Change In An Individuals Knowledge Or Behaviour

Learning can be ocular, kinesthetic, musical, interpersonal, intrapersonal, lingual, logical, realistic, religious and moral, and, consequentially, scholars have really differing degrees of intelligence in these different sorts of larning. It is per se of import for instructors to hold a on the job cognition of how different pupils learn because of this fact that non all pupils learn in the same manner. An educators occupation is to ease acquisition for a pupil, and hence must be adaptable to these assorted acquisition manners in order to adequately supply for them, and this can non be done without an apprehension of different larning theories and manners. A pupil who is kinesthetic or visually intelligent is non traveling to profit from certain manners of learning every bit much as a pupil who is a logical scholar, presuming the pedagogue is merely learning in a logical manner. Therefore it is necessary for pedagogues to understand the differing sorts of larning so that they can pro vide for multiple intelligences within their lessons, both by admiting their being and leting pupils the chance to larn in different ways every bit good as developing pupils abilities to interact with intelligences that they might otherwise be non as accustomed to. Equally good as different intelligences there are different worldviews on how learning occurs, whether it is inactive or active, whether it is societal or personal, and these theories straight affect the teaching method embraced by the instructor keeping them. Therefore the acquisition theories will needfully order the types of intelligences most supported by the acquisition that is taking topographic point, and it is up to the pedagogue to understand these learning theories so that they may use them in a manner to outdo explore all of the multiple intelligences and give their pupils the best opportunity of making a higher order apprehension of any capable affair. Behaviourism is a theory that operates upon an ‘action-reaction ‘ or ‘stimulus-response ‘ construct of larning. At its kernel this worldview places the scholar in the place of being a ‘blank slate ‘ , an empty vas or ‘tabula rasa ‘ , which is so filled with the coveted cognition or acquisition. Behaviourism assumes that the scholar is inactive and that they respond to any and all environmental stimulations that they are exposed to. The environment acts on the scholar, non the scholar on the environment. Behaviorism can be broken down into two possible signifiers of conditioning: classical conditioning and operant conditioning, the late of which was founded by B. F. Skinner and is one of the most outstanding larning theory places. Skinner ‘s operant conditioning position is non-dualistic, it denies that the head is a separate thing to the organic structure, alternatively situating ideas to be private behaviors, analysable in the same manner that public behaviors are. Essentially learners learn to ‘operate ‘ on the environment. Functionally, operant conditioning plants on a footing of support and penalty. Reinforcement is a procedure by which a targeted behavior is caused to happen with greater frequence and penalty a lesser frequence. Both these effects have positive and negative fluctuations, by positive and negative we refer to their linear or subtractive qualities, non their moral deductions. Positive support is when a rewarding stimulation is to happen following a desirable behavior, therefore increasing its frequence. Negative support occurs when an unwanted stimulation is removed after a desirable behavior, besides increasing its frequence. Positive penalty is the happening of a penalty or negative stimulation following an unwanted behavior, diminishing its likelihood, while negative penalty is the remotion of a positive or honoring stimulation following a unsought behavior, besides diminishing the opportunity of reoccurrence. In contrast to behaviorism, constructivism positions the scholar as an active participant in the acquisition procedure. The scholar is an â€Å" information builder †[ 3 ], one of the basic premises behind constructivism is that â€Å" people are active scholars and must build cognition for themselves. †[ 4 ]This base premise is that the scholar is a â€Å" alone person with alone demands and backgrounds. †[ 5 ] Learning is a constructive, contextualized and active procedure by which the scholar is engaged in actively making a subjective reading of an otherwise nonsubjective world. One of the cardinal differences between constructivism and behaviorism is that the scholar is seen as conveying past experience and cognition to the acquisition, and that it is this past experience that is the specifying factor in the defining and constructing of new cognition. This construct at work postulates that people generate their appreciation on cognition through an interaction between their thoughts and experiences. Furthermore the scholar acts upon the environment, interacting with it to make significance, instead so being acted upon. Constructivism, nevertheless, is non a incorporate theory. Under the streamer of constructivism subsists three chief positions dubbed the exogenic position, the endogenous position and the dialectical position. An exogenic constructivism â€Å" position posits a strong influence of the external universe on cognition building, such as by experiences, instruction, and exposure to theoretical accounts. Knowledge is accurate to the extent it reflects that world. †[ 6 ]On the other manus, endogenous constructivism provinces that cognition is derived from earlier mental constructions and focal points on a coordination of â€Å" cognitive actions †[ 7 ], while dialectical constructivism is a blend of the two, situating that cognition is non wholly construed from the external universe, nor is it entirely of the head but instead is the consequence of interactions between the scholar and the environment. – Schunk, Dale H. ( 2008 ) Constructivist Theory ( Chapter 6 ) . In Learning Theories: An Educational Perspective. 5th Edition. ( pp.234-277 ) . Upper Saddle River, New Jersey: Pearson, Merrill Prentice Hall. ISBN 9780132435659 pg 239 A behaviorist schoolroom places the scholar in a inactive function, as earlier mentioned, they are ‘tabula rasa ‘[ 8 ]. As a consequence the pedagogue is positioned in an active function, basically ‘acting ‘ on the scholar to instil cognition. This can take to a schoolroom where the scholar is non needfully encouraged to prosecute with the cognition presented to them, but instead to basically digest it, taking the cognition in to regurgitate ‘as is ‘ when needed. There is nil incorrect with this type of acquisition, so for certain topics and certain countries of topics it is arguably the most efficient signifier of acquisition. However a failing nowadays within the behaviorist theory is that it does non let the scholar to come on much further so the ‘applying ‘ phase in the new blooms taxonomy. It may be wrong to state that it does non ‘allow ‘ , but it surely does non promote the scholar to come on farther into the analysin g, measuring and making phases of the theoretical account without proper motion into determining the scholars behaviour. Even though they may acquire their ain their ain, the attack does non supply scaffolding to back up the scholar to these more advanced interactions with the cognition. This is because the scholar is non forced to prosecute with the cognition in an active manner, they do non hold to do it their ain, alternatively expected to be able to retrace what the instructor has presented to them, demoing an ability to retrieve and reproduce, but non needfully to grok on a meaningful degree. On the other manus a constructivist attack efforts to guarantee that the scholar interacts on a degree that allows them to prosecute in making from the footing of the cognition conveyed, hence promoting higher order thought. However In a behaviorist schoolroom the instructor will be actively seeking to place behavior to be changed, and, one time identified, they will be after specific intercessions to change that behavior in a coveted manner utilizing ancestors and effects. The instructor invariably accumulates informations on the consequences of these intercessions and modifies their attack to more efficaciously ‘shape ‘ the pupils behaviour. Praise, although contingent upon the behavior of the pupil, will strategically and often be given out to reenforce coveted behaviors. Each lesson will hold clear and precises ends in footings of cognition, attitudes and accomplishments to be transferred to the pupils, and cues and prompts will be utilized in order to put up behavioral forms and determine the pupils into the coveted acquisition form. This would so be scheduled with uninterrupted regular support to get down with, followed by more intermittent and sporadic support to ease the pupil into ego regula ted acquisition. This defining is necessary because a rigorous behaviorist attack is merely utile for a short period of clip, determining is required to foster the pupils larning. In an English schoolroom it would be expected that the instructor would be actively reenforcing the battle of pupils in category treatment with prima and directed oppugning accompanied with congratulations for engagement. The teacher*/*** As a instructor it is of import to gain that behaviorism does work, it is a important portion of any instruction and has a really effectual and functional intent but that it is non all of the image. As with the demand to be various in learning to cover the multiple intelligences, so excessively do we hold to be various in the theories we use in our pattern. While behaviorism is a really of import tool we can utilize, and basically covers a big part of the behaviour direction and positive forms we can put in the category, we still need constructivism in order to ease * Piaget posited four phases that all human existences go through in the procedure of ripening. The sensorimotor phase is that phase â€Å" from birth to age 2. Children experience the universe through motion and senses ( utilize five senses to research the universe ) † -Santrock, John W.. Children. 9. New York, NY: McGraw-Hill, 1998. The preoperational phase consists of kids from ages two to seven and consists of egoism and begins to see the universe symbolically, so the kids begin to believe logically and travel into the concrete operational phase between ages seven and twelve and eventually from age 12 onwards reach the formal operation phase and develop abstract logical thinking. â€Å" the fact that many of the voluntary responses of animate beings and worlds are strengthened when they are reinforced ( followed by a desirable effect ) and weakened when they are either neglected or punished. † â€Å" †¦ organisms learn new behaviors and when to exhibit them and E »unlearnE? bing behaviors. † â€Å" †¦ all behaviors are accompanied by certain effects, and these effects strongly influence whether these behaviors are repeated and at what degree of strength. † â€Å" Positive interactions between instructor and pupils can bring forth successful acquisition results in the presence of complex kineticss of individuals, conditions and results. † Snowman et Al. ( 2009 ) . Chapter 7. â€Å" Behavioural Learning Theory: Operant Conditioning † . In Psychology Applied to Teaching. 1st Australian Edition. Milton, QLD: John Wiley & A ; Sons Australia Ltd. Bibliography

How the World Began Essay

There was no world yet and there were gods living in a great brightness in a circular space Magbabaya, Dadanyahan and Makabughaw were the three gods who first lived in order and balance Makabughaw created the first wind. Magbabaya created the earth from the soil coming from Dadanyahan’s mouth but it was dry and colorless. Dadanyahan sprinkled his saliva and blessed by Magbabaya and it was the first rain. When water washed over the earth it created different landforms and water forms. Vegetation also sprouted and grow. Magbabaya and Makabughaw scoped some soil and made a figure with the use of Dadanyahan’s saliva. They put bones, blood vessels and blood to the seven figures they formed. Magbabaya and Dadanyahan fight about the figures. The weapons they used in fighting, sank to the ground and became the sources of metals for transportation. They agreed to end their fights and made the final form of the figures, Dadanyahan got the six figures. Magbabaya had only one figure and it was the first human who become the guardians of the soil, water, and marine life, the plants, forests. How the World Began Bukidnon Folktale I. SETTING The story happened before earth was created where the gods lived up in the sky. It is evident by the words, â€Å"†¦long long time ago in Banting, a circular space of great brightness encircled with a rainbow.† II. CHARACTERS 1. Magbabaya – the one-headed god, who took pity on Makabughaw and decided to build an extension so the poor Makabughaw could rest. Since the beginning of the story he is a round character, he was sometimes helpful but most of the time bossy and making orders. Although in the end he turned mad and engaged in fight, it was only the course of his actions. 2. Dadanyahan – the ten-headed god, who can give whatever the two gods needed in order tto build or to make something. He is a dynamic character for he has changes in his attitudes in the course of story. From understanding and giving, he turned to be mad. 3. Makabughaw – the winged god had to flap his wings continuously to maintain his balance. He sat riskily between Mabgagaya abd Dadanyan. He made his first wind. He is a flat character, because he did not undergo any substantial change or growth in the course of the story. He was always a helper to the two other gods and just follow what they wished for. III. PLOT a. Exposition The three gods where living harmoniously in the circular space of great brightness. At first there was only wind and no more. They agreed to make the earth so Makabughaw could rest. From the saliva of Dadanyahan and the blessings of Magbabaya, they were also able to make the first rain that shaped the different water and landforms on the earth and made the land vegetative. b. Rising Action After making the earth and the different land, water forms and different plants, they thought there would be someone who will take care of their creations. So they agreed to form images look like them. Dadanyahan’s saliva and a blessing of Magbabaya and the labor of Makabughaw. c. Climax After the seventh figure was molded, Magbabaya had to live to do other things and he told to Dadanyahan not to tamper the image, but Dadanyahan did  and used his creative talents. This brought them into huge fight. d. Falling Action To end the fight they agreed to divide the images. Dadanyahan got the six images which became the engkantos and Magbabaya got only one image. e. Denouement The first human being sprung from the only image of Magbabaya and the small bits of clay from the image became the animals. IV. CONFLICT MAN vs. MAN – The conflict happened between the two characters of the story when they did not want to give way to each other. V. THEME Temptation and destruction Dadanyahan was tempted to touch the image and used his creativity on them, but he just made unwanted creatures that is why they had a big fight. It alsodestructed his friendship with Magbabaya.