Economics Airline Industry - 2595 Words

Part 1 The Characteristics Of The Airline Industry Preface Introduction The Primary Characteristics Competition Within The Airline Industry The Secondary Characteristics – The Tertiary and Quaternary Characteristics – Part 2 PESTEL Of The Airline Industry Conclusion References PART 1 The Characteristics Of The Airline Industry Preface Economics or Managing In The Global Environment, a subject everyone needs to be familiar with and most believe or think that they are, but at the end of the day, very few are competent and understand it’s deep meaning, intricacies and implications. These implications and meanings are for the Government, the people, the economy as well as for the observer ( a person observing the economy or industry in a†¦show more content†¦All airlines offer products and services of similar nature 4. Airlines enjoy substantial as well as major economies of scale 5. There is growth through merger 6. Airlines are mutually dependant on one an other 7. Price rigidity and non – price competition 8. Price Transparency and collusion Having said that, it is now amply clear that airlines, whether full service carriers or low cost, short haul or long haul operate in an oligopoly. Competition Within The Airline Industry A key characteristic of an oligopoly is limited competition, collusion and interdependence within firms. In recent times, we have seen sworn public enemies colluding privately. British Airways and Virgin Atlantic coming together to fix the passenger fee for ‘fuel surcharge’ to the flier. The first to investigate were the Office for Fair Trade and after much investigation, the trial broke down on 10 th May 2010 due to discovery of certain e-mails. Last month it was revealed that Virgin Atlantic and Cathay Pacific might have illegally co-ordinated prices for passenger flights between London Heathrow and Hong Kong’s Chep Lap Kok airport between 2002 and 2006. [3] Airlines compete in severa l other ways as well. Ticket prices fluctuate and the earlier you purchase, the cheaper it is. Frequencies and timings of flights differ over sectors. With regard to timings, British Airways have the BA 26 and the BA 28 leaving Hong Kong for London within 15 minutes of each other. Virgin leaves at the sameShow MoreRelatedAirline Industry and Its Economic Outline2890 Words   |  12 PagesAirline Industry and Its Economic Outline Frank L Mannino Jr. Axia College of University of Phoenix ECO/205 Economic Theory May 09, 2010 Airline Industry and Its Economic Outline The question can be is. How has the economy of the airline industry performed throughout the many decades it has been? In addition, what did the industry do as it has gone through many events that have challenged its survival? In this type of industry, we can say that it has seen their share of success in profitsRead MoreEconomic Profile: Airline Industry2794 Words   |  12 PagesEconomic Profile: Airline Industry Introduction The airline industry provides services for passenger and cargo transport. Over the years the airline industry has faired fairly decent. That is, until the September 11 tragedy in 2001. From 1995 through 2000, the airline industry earned about $23 billion then lost about $35 billion from 2001 through 2005 (McCabe, R., 2008). There are many factors that indicate the economic downfall of the airline industry after the September 11 incident. The purposeRead MoreEconomic Analysis of the Airline Industry2366 Words   |  10 Pagesec Economic Analysis of the Airline Industry Tisha Smith Axia College of UOP ECO 305 Economic Theory George Harris March 18, 2007 Economic Analysis of the Airline Industry Introduction The airline industry is one that is both costly and necessary to the economy. Costly because of the funding provided by the government, recent layoffs; which has a hand in rising inflation, dealing with negative externalities and high security risks;Read MoreEconomic Profile of the Airline Industry Essay2195 Words   |  9 PagesEconomic Profile of the Airline Industry Airlines use a formula of combining their yield and inventory costs to determine ticket prices. While it is imperative to focus on the idea of being profitable, the focus is to maximize the cost of the flight revenue. One huge factor that encourages an increase in the cost of tickets relates to a customer ordering a ticket close to the departing date, define this as a risk factor because they need to make up for all unsold seats. A high percentageRead MoreHow Is the Economic Downturn Affecting the Airline Industry?969 Words   |  4 PagesEXECUTIVE SUMMARY ï  ¶ Stagflation in US economy threatens outlook for the airline industry profitability. US airlines forecasting Q108 losses citing high fuel costs and a potential economic slowdown. ï  ¶ Other regions of the world will expand such as Asia, Middle East and Latin America. ï  ¶ Slowdown has already affected some US small-mid cap carriers with the recent onslaught of bankruptcies. ï  ¶ US majors are better armed to combating the effects of the sharp increase in jet fuel. Cost reductionRead MoreDemographic, Economic Technological Factors of Hr Planning for Airline Industry in Spore4005 Words   |  17 PagesIntroduction The airline industry is by itself plays a big part in the economy. It generates 31.9 million jobs globally. (The impact of the financial crisis on labour in the civil aviation industry) It involves transportations, catering, securities, logistics, etc. As it does not work as an industry by itself, HR planning comes to be an important task. The airline industry has generally seen success in the many aspects involved with it – service, tourism, innovations etc. Despite the terrorismRead MoreEconomic Impact on Aviation Industry1294 Words   |  6 PagesThe economic situation has proven to have impacted the airline industries in many ways. For instance, changes in price of an airline industry may also change the demand and elasticity of the services offered by the airline company. In this regard, the outlook of the airline industry can still be considered to have strong growth in spite of changing economic conditions. For airlines, the economic situation for prices, wage inequality and even monetary aspects will hold many challenges and only thoseRead MoreThe Civil Law Limits Property Rights1718 Words   |  7 Pagespublic sector and the absence of a strong centralized economic planning. However, this common belief is a myth long. Through the civil law and regulation, state and local governments and the federal government substantially affect almost all industries. The civil law limits property rights, contractual obligations defines and establishes quality standards for goods and services through laws. Regulatory policy takes two general forms. Economic regulation controls the benefits, sets prices and determinesRead MoreCurrent Situation of Airline Industry1122 Words   |  5 PagesCurrent Situation of Airline Industry Since the airline industry was deregulated in the late 1970s, they shall hold the line on the number of planes they fly. The result is that the people by plane shall be more and more, and the fares shall become expensive. Because air transport is faster than other transportation methods, the people increasingly prefer to fly. The air transportation shall be an important transportation method in the future, and the people engaged in air transportation shall haveRead MoreThe Flight Of The Airline Industry1231 Words   |  5 PagesOffice air mail), cargo services (e.g. Ford) and passenger service airlines had emerged during this period. With the passage of the Airline Deregulation Act in 1978, it opened a new chapter for the airline industry (Air Transport Industry, 2014). Thought out the past 110 years, the airline industry progressed with technology aspect as well as the economic aspect; recessions, economic downturns and oil crisis have impacted the industry (Zarb B. , 2014). The air travel in the United States grew fast until

The Reading Process - 1595 Words

When a child is speaking many words and using them as an integral part of his personality, he is ready to read them. In teaching reading to young children, word selection is often the first place where we go wrong. We pull words from thin air and try to put them into the child. Often we make matters worse by putting these strange words into printed context outside the realm of the childs experience and expecting him to read--and he cannot. Children can learn to read any word they speak. One of the greatest hoaxes in all of educational pedagogy is that which says that reading vocabulary must be developed in a predeter ¬mined logical sequence. This simply is not the case. Linguists tell us that when a child comes to school he has all the†¦show more content†¦Reading is the active process of constructing meaning from words that have been coded in print. Printed and spoken words are meaningful to the young child only to the extent where his field of experience overlaps that of the author of the printed text. The reader learns from a book only if he is able to comprehend the printed symbols and rearrange them into vivid experiences in his mind. A child’s ability to think, to rationalize, and to conceptualize makes it possible for him or her to accept new ideas from a printed page without actually experienc ¬ing the new idea. He or she must however, possess the knowledge of each symbol that helps make up the new idea. Ideally, the teacher would show a picture of an object and, through discus ¬sion, build the understandings necessary to give children a correct visual image of the object. Because of the unusual shape of some words (e. g. kangaroo) chil ¬dren memorized them quickly, but nothing is usually learned until the words take on meaning. The teacher should give the words meaning by using the childrens experiences. Experience combined with the power of imagery will make it possible for children to acquire new understandings, concepts, and learn ¬ings from their reading of each new word. Reading is not word calling; it is getting the meaning of the printed word from the page. The teaching of reading means assisting children to obtain those skills needed toShow MoreRelatedReading Process1135 Words   |  5 PagesThe Nature of the Reading Process Reading is a complex process; it is not about identifying words but also about understanding them. Reading requires attending to the environment, encoding and interacting with the stimulus in a meaningful manner and linking the meanings of the stimulus with existing knowledge and prior experiences. Thinking Reading is a thinking process; it is not just about calling or recognizing the words on a page but understanding what was read. Therefore the readerRead MoreReflection Of Reading : The Process Of My Reading Process711 Words   |  3 PagesMy reading process overall is very strong and went smoothly. As I read I annotated the pages and this helped me stay more focused and connected with the reading. Today it was hard for me after I went to the bathroom and came back to the reading because I disconnected from the reading and had to try and dive straight back in. I also put my cell phone far away from me when I read or do homework so that I will not be tempted to look at the phone instead of completing my reading. As I read I try toRead MoreThe Process Of Reading869 Words   |  4 PagesThe process of reading is made up of continuous rapid eye movements, called saccades intermingled with brief pauses, called fixations, during which the eyes remain relatively still (Rayner, 1998). During saccades, sensitivity to visual stimuli is reduced to allow the feeling of smooth reading; this phenomenon is called saccadic suppression (Matin, 1974). This means that visual information is only encoded during fixations, that usually occur once for each word (Holmqvist et al., 2011). The studyRead MoreReading Is A Process Of Literate Thinking1098 Words   |  5 Pages(1b) Belief statement about reading Reading is a process of literate thinking during which an individual constructs meaning from texts in a social and cultural context. I believe reading is a vital skill and important activity for people of all ages. I grew up surrounded by books. I had parents who encouraged me from an early age to read books both with and without them, and they would read to me every night before I went to bed. They wanted to ensure that I was literate and would grow up with aRead MoreThe Model Of Reading Process Things Clicked For Me1522 Words   |  7 Pagespsycholinguistic model of reading process things clicked for me. The reason I struggled to read for comprehension became evident; I developed the three parts of the cuing system at different times of my education. Elementary years concentrated on the graphophonemic section, while middle and high school were a drilling of syntactic learning. The semantic system was promoted during the last years of high school it has kept evolving up to now. My very first encounter with the reading process involved the graphophonemicRead MoreReading Is A Process Of Translating Visual Codes Into Meaningful Language1018 Words   |  5 PagesReading is one of the basic components of literacy. â€Å"Reading is a process of translating visual codes into meaningful language† (Whitehurst Lonigan, 1998, p. 849). Children with emerging literacy are at the early stages of reading which mostly involves decoding letters into their corresponding sounds and then linking those sounds to single words. A study was conducted that found that 5% of a child’s daily speech was entirely produced during joint book reading (as cited in Whitehurst LoniganRead MoreReading Comprehension Is A Cognitive And Mental Problem Solving Process1488 Words   |  6 PagesThe reading process is a cognitive and mental problem solving process of decoding symbols so children can derive or construct the meaning of reading comprehension. The reading process is a means of language, communication, and the sharing of ideas and information. Comprehension is when children have the ability to understand or get meaning from the texts they read. With reading comprehension children will benefit greatly when explicit instruction is used. By doing this children can learn how to applyRead MoreThe Process Of Close Reading While Using Rhetorical Analysis Essay1864 Words   |  8 PagesThe Process of Close Reading While Using Rhetorical Analysis Introduction to Close Reading Rhetorical Analysis The close reading process of a rhetorical analysis includes breaking down an essay into different parts in order to create a certain affect towards the reader. In the article, â€Å"Should Writer’s Use They Own,† Young uses diverse language to address the idea of code meshing. Young’s rhetorical appeal in the article intersect with my reading experiences by creating a difficult read, that makesRead MoreReading And Writing Are Two Pillars Of The Education And Learning Process Of Human Being985 Words   |  4 PagesReading and writing are two pillars of the education and learning process of human being. Mrs. Tuchman said â€Å"Books are the carriers of civilization. Without books, history is silent, literature dumb, science crippled, thought and speculation at a standstill. Without books, the development of civilization would have been impossible.† Even though we are in the 21st century where technology has gain the upper hand in human settlement, reading and writing keep their main importance in human civilizationRead MoreThe s Reading Process Theory Through The Text Of Mrs Dalloway And. Fought The Queen2398 Words   |  10 Pages Yadav Dr. Nidhi Vats M.A. English (Final) Decoding Wolfgang Iser‟s Reading Process Theory through the Text of Mrs Dalloway and Bravely Fought the Queen In the 1960s, the new criticism theory in the American Literary arena focused on the reading of a literary text as an independent form and not to be studied in relation to any context. This gave birth to another theory that began majorly in 1960s and 1970s known as reader response criticism, which also tried to do away with the author‟s

Events after the Reporting Period Financial Reporting

Question: Describe about the Events after the Reporting Period for Financial Reporting. Answer: The provisions as regards computation and discloser of deprecation are contained in the AASB 1021. In respect of the change in the rates and method of depreciation, the provisions of paragraph 6.3 this standard require that effect of such change must be given in the current year financial statements and the depreciation for the future years must be computed considering such changes (AASB 1021, 1997). Further, the standard also provides that the prior period financial statements should not be given any effect in respect of the changes in the rate and method of deprecation (AASB 1021, 1997). Applying these provisions to the current case of Rainyday Ltd, the depreciation for the financial year 2015-16 would change as has been worked out below: S.No. Description Amount ($) A Cost of manufacturing equipment 500,000.00 B Life 10 C Residual value 0 D Depreciation per year (A-C/B) 50,000.00 E Depreciation for 2013-14 and 2014-15 (D*2) 100,000.00 F Written down value on 01.07.2015 (A-E) 400,000.00 G Revised life 6 H Revised depreciation from 2015-16 and onwards (F/G) 66,666.67 Thus, it can be observed from the above that the depreciation for the financial year has changed from $50,000 to $66,666.67 as a result of change in the effective useful life of the equipment. The change in the depreciation is non-adjusting item for the previous financial years; therefore, the directors of Rainyday Ltd are advised not to make any adjustments in the accounts for this change for the previous financial years 2013-14 and 2014-15. 1(b) As per the provisions of the AASB 108, the adjustment for the errors and omissions of the previous periods is given in the current financial statements by restating the assets, liabilities, and the equity. Further, tax effect of such adjustment is accounted for in accordance with the provisions of AASB 112, Income Taxes (AASB 108, 2013). In the case of Rainyday Ltd, the repair expense of $25,000, which remained unaccounted in the year 2015, need to be adjusted in the books in the year 2016. The adjusting journal entries for Rainyday Ltd are given below: Journal for Prior Period Adjustments: Rainyday Ltd 2015-16 Date Description Debit ($) Credit ($) 5-Jul-16 Repair expense 25000 Cash 25000 30-Jun-16 Retained earnings 25000 Deferred tax 7500 Repair expense 25000 1(c) As per the provisions AASB 9, the measure fall in the fair value of the equity instrument is recognized in the financial statements (AASB 9, 2010). Further, the provisions of the AASB 110 entail that the events taking place after the closer of the financial year but before the finalization of the financial statements, should be adjusted (AASB 110, 2011). Therefore, Rainyday Ltd should adjust the loss of $350,000 ($800,000-$450,000) in the profit and loss account for the financial year 2015-16 by passing the following journal entry: Journal: Rainyday Ltd 2015-16 Date Description Debit ($) Credit ($) 30-June-16 Profit and loss account 350000 Equity investment account 350000 1(d) In the current situation, the since the debtor of the company has gone bankrupt before the finalization of the financial statements, the event is adjusting nature as per the AASB 110 (AASB 110, 2011). Therefore, the RainydayLtd should write off the remaining amount $450,000 as well in the financial year 2015-16 itself by passing the following journal entry: Journal: Rainyday Ltd 2015-16 Date Description Debit ($) Credit ($) 30-June-16 Profit and loss account 450000 Bad debts 450000 2. Journal for share issue: Sunny Ltd Date Description Debit ($) Credit ($) 31-Jan-16 Cash Trust 1,890,000.00 Application 1,890,000.00 (For application money on ordinary shares received) 31-Jan-16 Cash 30,000.00 Share options 30,000.00 (Issue of 60000 share options at 50c each) 12-Feb-16 Application 1,890,000.00 Share capital 1,800,000.00 Share allotment 90,000.00 (For shares allotted and excess money received on application adjusted toward allotment) 12-Mar-16 Cash 1,890,000.00 Cash Trust 1,890,000.00 (Transfer on allotment of shares) 12-Mar-16 Allotment 600,000.00 Share capital 600,000.00 (Allotment money due on 600000 shares) 12-Mar-16 Cash 493,000.00 Allotment 493,000.00 [Allotment money received on 580000 shares=$580000-$90000)] 20-Mar-16 Share capital 80,000.00 Share forfeited (630000/600000*20000)=21000 shares*$3 63,000.00 Allotment 17,000.00 (20000 shares forfeited) 5-Apr-16 Cash 74,000.00 Share forfeited ($4-$3.70)*20000 6,000.00 Share capital 80,000.00 (20000 forfeited shares reissued @ $3.70 per share) 5-Apr-16 Share forfeited ($63000-$6000) 57,000.00 Share re-issue costs 3,600.00 Cash 53,400.00 (Balance in share forfeit after meeting reissue cost paid back) 30-Jun-16 Cash (50000*$4.2) 210,000.00 Share capital 210,000.00 (50000 shares issued against 50000 options allotted) 30-Jun-16 Share options 30,000.00 Share capital 25,000.00 Lapsed options reserve 5,000.00 (Write-off of options exercised, and lapsed) 3. Computation of current tax Amount ($) Amount ($) Accounting profit before tax 190,750.00 Add: Adjustments for taxation purpose Depreciation equipment (Accounting) 40,000.00 Depreciation - motor vehicles (Accounting) 15,000.00 Entertainment expenses (not tax deductible) 4,500.00 Provision for annual leave 11,000.00 Provision for warranties 6,900.00 Rent payable 6,000.00 83,400.00 Less: Adjustments for taxation purpose Prepaid insurance 3,000.00 Government grant (exempt from income tax) 30,000.00 Depreciation equipment (taxation) 60,000.00 Depreciation - motor vehicles (taxation) 12,000.00 Taxable profit 169,150.00 Tax Rate 30% Current Tax 50,745.00 Temporary Differences Tax base Carrying amount Taxable temporary differences (liability) Deductible temporary differences (asset) Prepaid insurance - 3,000.00 3,000.00 Equipment 340,000.00 360,000.00 20,000.00 Motor vehicles 48,000.00 45,000.00 3,000.00 Provision for annual leave - 11,000.00 11,000.00 Provision for warranties - 6,900.00 6,900.00 Rent payable - 6,000.00 6,000.00 Total 23,000.00 26,900.00 Deferred Tax Asset/ liability Amount ($) Deductible temporary differences (asset) 26,900.00 Less: Taxable temporary differences (liability) 23,000.00 3,900.00 Tax Rate 30% Deferred Tax Asset 1,170.00 Journal Entries S.No. Description Debit ($) Credit ($) 1 Deferred tax asset 1,170.00 Profit and Loss 1,170.00 2 Profit and Loss 50,745.00 Current tax 50,745.00 4 Journal Entries Date Description Debit ($) Credit ($) 1-Jul-13 Equipment 800,000.00 Cash 800,000.00 30-Jun-14 Depreciation expense 152,000.00 Accumulated depreciation-equipment 152,000.00 [($800000-$40000)/5] 30-Jun-14 Accumulated depreciation-equipment 152,000.00 Equipment 152,000.00 30-Jun-14 Profit and loss 152,000.00 Depreciation expense 152,000.00 1-Jul-14 Equipment 82,000.00 Revaluation reserve 82,000.00 $800,000-$152,000=$648,000 (WDV) ($730,000-$648,000= Revaluation reserve) 30-Jun-15 Depreciation expense 115,000.00 Accumulated depreciation-equipment 115,000.00 [$730000-$40000]/6 30-Jun-15 Accumulated depreciation-equipment 115,000.00 Equipment 115,000.00 30-Jun-15 Profit and loss 115,000.00 Depreciation expense 115,000.00 30-Jun-16 Profit and loss 201,333.33 Revaluation reserve ($82000/6) 13,666.67 Impairment loss [($730000-$115000)-$400000] 215,000.00 30-Jun-16 Impairment loss 215,000.00 Equipment 215,000.00 30-Jun-16 Depreciation expense 72,000.00 Accumulated depreciation-equipment 72,000.00 [($400000-$40000)/5] 30-Jun-16 Accumulated depreciation-equipment 72,000.00 Equipment 72,000.00 30-Jun-16 Profit and loss 72,000.00 Depreciation expense 72,000.00 30-Sep-16 Cash 390,000.00 Accumulated depreciation 339,000.00 Loss on disposal 71,000.00 Equipment 800,000.00 30-Sep-16 Revaluation reserve ($82000-$13666.70) 68,333.33 Profit and loss 2,666.67 Loss on disposal 71,000.00 5. As per the provisions of the AASB 136, the allocation of the impairment loss of a cash generating unit is made first to the goodwill and then to the other assets in the proportion of their carrying amounts. However, it should be kept in mind that the allocation of the impairment loss in such a manner does not result in excess of the amount that would have been calculated considering a particular asset singly (AASB 136, 2010). In accordance with the relevant provisions of AASB 136, the computation and allocation of the impairment loss of CGUs of Movies Ltd is presented below: Computation of impairment loss for cash generating units Cash Generating Units Cinema ($) DVD Sales ($) A. Fair value less cost to sell 780,000.00 318,000.00 B. Value in use 900,000.00 290,000.00 C. Recoverable value (higher of A and B) 900,000.00 318,000.00 D. Carrying amount of cash generating unit 1,019,000.00 326,000.00 E. Impairment loss (D-C) 119,000.00 8,000.00 Allocation of impairment loss: Cinema Carrying amount ($) Impairment loss allocated Max limit (individual impairment) Goodwill 45,000.00 5,301.98 Furniture and fittings 205,000.00 24,153.47 Electrical equipment 110,000.00 12,960.40 Land and buildings 625,000.00 73,638.61 75,000.00 Licence 25,000.00 2,945.54 1,000.00 1,010,000.00 119,000.00 Allocation of impairment loss: DVD Sales Carrying amount ($) Impairment loss allocated Max limit (individual impairment) Furniture and fittings 25,000.00 873.36 Electrical equipment 10,000.00 349.34 **Land and buildings 179,000.00 6,253.28 4,000.00 Goodwill 15,000.00 524.02 229,000.00 8,000.00 **Note: In case of land and building, the impairment loss considering land and building as single asset comes to $4,000, but the in CGU allocation it comes to $6,253.28. As per provisions of AASB 136, max amount that can be allocated would be $4000 only. Journal Entries Date Description Debit ($) Credit ($) 30-Jun-16 Profit and loss 127,000.00 Impairment loss-Cinema 119,000.00 Impairment loss-DVD Sales 8,000.00 30-Jun-16 Impairment loss-Cinema 119,000.00 Goodwill 5,301.98 Furniture and fittings 24,153.47 Electrical equipment 12,960.40 Land and buildings 73,638.61 Licence 2,945.54 30-Jun-16 Impairment loss-DVD Sales 5,746.72 Furniture and fittings 873.36 Electrical equipment 349.34 **Land and buildings 4,000.00 Goodwill 524.02 References AASB 110. (2011). Events after the Reporting Period. Retrieved September 13, 2016, from https://www.aasb.gov.au/admin/file/content105/c9/AASB110_07-04_COMPdec09_01-11.pdf AASB 136. (2010). Impairment of Assets. Retrieved September 13, 2016, from https://www.aasb.gov.au/admin/file/content105/c9/AASB136_07-04_COMPjun09_01-10.pdf AASB 1021. (1997). Deprecation. Retrieved September 13, 2016, from https://www.aasb.gov.au/admin/file/content102/c3/AASB1021_8-97.pdf AASB 108. (2013). Deprecation. Retrieved September 13, 2016, from https://www.aasb.gov.au/admin/file/content105/c9/AASB108_07-04_COMPdec09_01-11.pdf AASB 9. (2010). Financial Instruments. Retrieved September 13, 2016, from https://www.aasb.gov.au/admin/file/content105/c9/AASB9_12-10.pdf

Introduction to Ethics free essay sample

All actions are motivated by desires we seek our own happiness, therefore our desires seek happiness not selfishness. Ethical egoism makes people put more importance on themselves than others, it’s trying to be helpful, and it seems that the argument goes about it in a very selfish way. I ought to be concerned about other only to the extent that this also contributes to my own interest.What I think about this optionI believe that greatness cannot be achieved by looking out for the interests of the entire group. Even though on average humans will get the better for themselves by looking out for the greater good, we will never see anything that is a work of genius. It is necessary and sufficient for an action to be rational, that it maximise the satisfaction of one’s preference. Since it may be rational for me to make an uncompensated sacrifice for the sake of others. We will write a custom essay sample on Introduction to Ethics or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Giving to charity it’s not rational given my preference. because it maximise happiness.Ayn Rand believes that a man should not sacrifice himself for other and should not sacrifice other for himself. Every man’s moral duty is to archive happiness, not sacrifice his own welfare and happiness for those of someone else .Of all living creatures, ethics only applies to man because he has the ability to make choice on valuable and invaluable goals. Primary and natural goal of any living creatures is to protect itself. Comparable, Ethical theory and utilitarianism both focus its analysis on whether the motives action it’s right or wrong. They differ where their acts are directed.Incomparable, in utilitarianism most action may be that which harms the individual agent but maximizes the positive impact for most people, placing the emphasis on the whole as opposed to individual. Deontology deals with intention and motives and focuses mainly on whether an act is right or wrong, egoism focuses mainly on self-interest while utilitarianism focus only on results and effects of type of actions. Individual has a greater value than others, it is ethical to act in one’s own self-interest even if it may harm others.https://ourpastimes.com/differences-between-utilitarianism-ethical-egoism-8662427.html

Keystone Pipeline political, economic and environmental implications

Keystone Pipeline political, economic and environmental implications Introduction The Keystone XL pipeline is a venture that is estimated to cover a distance of about one thousand nine hundred kilometers of thirty-six inch diameter in transporting crude oil that stretching from Hardisty, Alberta and extending all the way south to Steele city of Nebraska. Keystone XL pipeline project is critical for the improvement of the economy and enhanced energy sustainability.Advertising We will write a custom term paper sample on Keystone Pipeline political, economic and environmental implications specifically for you for only $16.05 $11/page Learn More In addition, the pipeline project will be critical in enabling easy access of oil productions by the US oil producers. In fact, the project will benefit majorly from the large oil markets existing in the US. The project that is estimated to cost $5.3 billion, the largest transportation venture in the US currently is expected to come with a number of implications concerning the political, economic and environmental aspects. Therefore, the study will explore the political, economic and environmental implications of the Keystone XL pipeline. In essence, comprehending the implications of political, economic and environmental factors before approval of important projects such as the Gateway Pipeline is critical (McAllister 54). The main objective of the study is to examine the implications of political, environmental and economic factors before the establishment of the Keystone XL pipeline. The economic, political and environmental implications have not often been critically looked at while approving major projects such as Keystone Pipeline. Examining the implications of such factors is important before such projects are undertaken. Therefore, the study of the economic, political and environmental implications is critical for both academic and practical purposes. Literature review The literature analysis will provide a description of the relevant important information on the economic, political as well as the environmental implication of the approval or the censure of the Keystone pipeline project. Specifically, the literature review focuses on various studies that have been conducted on the environmental, political and economic implications of similar projects around the world. According to the studies that have been conducted, the environmental, political and economic implications of major projects such as the Keystone XL pipeline are immense (Wang 545).Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Studies have indicated that projects are approved under the circumstances where the benefits supersede the costs and negative effects (Wang 545). Most successful oil and gas pipeline projects have greater economic benefits to the industries as well as the general economic growth of the country or countries it connects. Moreover, environmental implications are highly considered by most of the oil and gas pipeline projects. The reason is that the oil and gas have great impact on the environment in case of leakage. In fact, most of the studies on the environmental implication of oil and gas industry have narrowly focused on such impacts (Hirschberg 15). However, the effect of environment goes beyond the pipeline to the emissions that are generated by the pipelines as well as related industries. Political implications All major projects have political implications ranging from political decision-making process to government relationships. The implementation of major projects requires political will and government cooperation in terms of resources management, security and financial obligations (Harnly 23). In the circumstances that the project involves multiple political boundaries, inter-governmental relationship is highly required. Moreover, both private sector and governments finance most of the major projects. The Keysto ne XL pipeline that has to be undertaken across various states. For the project to succeed there is need for state cooperation. The pipeline construction will have effects on various environmental laws as well as state regulations. However, legal requirements can be amended to suit the developmental needs of the pipeline. In essence, the pipeline will have little political implications. Economic implications The construction of the project will employ about nine thousand expert American labor units. In other words, employment prospects will be available to the welders, mechanics, electricians and pipefitters. In addition, job opportunities will be offered in terms of safety coordinators, heavy equipment operators and other personnel in the construction industry to sustain their livelihoods (Harnly 23). Further, studies show that approximately seven thousand five hundred employment openings in the US are sustained by the steel manufacturing industries. In principle, the manufacturers of steel pipes, fittings, valves, pumps as well as control devices are bigger beneficiaries of oil pipeline ventures.Advertising We will write a custom term paper sample on Keystone Pipeline political, economic and environmental implications specifically for you for only $16.05 $11/page Learn More TransCanada Corporation, the Alberta based Energy Company that specializes in the development and operation of energy infrastructure in North America, has a connection with over fifty dealers in various states within the US. The corporation has employed over three thousand five hundred Americans in the construction of the Gulf Coast pipeline. Most importantly, the building of both the Keystone XL and the Gulf Coast pipelines will have positive economic implications in terms proceeds to the local and state governments. For instance, the projects are expected to generate over $20 billion to the overall economy as well as $100 million in local governments income and $490 million to the state governments. Further, the pipeline ventures will produce over $5 billion in terms of property taxes. Canadian Energy Research Institute contends that the Keystone pipeline will boost the America’s GDP in terms of proceeds and creation of employment opportunities in the next twenty-two years. Specifically, the institute contends that the project will boost the US gross domestic product by $175 billion and avail 1.9 million-person years of work. Generally, the pipeline venture will create job prospects as well as generate tax proceeds to the state governments thereby leading to the growth of the economy (McAllister 54). To begin with, American families will get jobs as welders, mechanics, equipment operators, truck drivers and laborers thus improving their livelihoods. Second, the venture has the potential of creating a number of business opportunities such as clearing, lodging and accommodation as well as maintenance equipment brought about by high d emand for the local goods and services. Lastly, the project will sustain the livelihoods of the society as well as increase the flow of tax proceeds in terms of property taxes across the US. The tax revenues will be invaluable in the operations and support of the local programs, disaster services, health and educational programs.Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Environmental implications The construction of Keystone pipeline pledged to undertake the safety measures considering the environmental implications. Actually, pipelines are considered the safest and the most proficient medium through which fossil fuels can be transported (McAllister 84). In the United States, over ninety-five percent of oil and natural gas pipelines transports are safe and unswerving. The pipeline venture has incorporated special safety conditions in its design and the construction. In other words, the project has included remote-controlled shut off valves as well as augmenting the examination of the pipelines, concealing the pipes deeper into the ground and using solid pipes at river crossings. The anticipated Keystone itinerary has identified the significance of the local land and topsoil conservation thus efficiently perform the construction taking into account the importance of land reclamation process. Further, with the vast experience in the building and the operation of pipelines, TransCanada Company has devised measures that will minimize adverse effects to the endangered species, habitat, water crossings as well as the paleontological resources. Moreover, the pipeline’s high-tech controls will provide updates concerning any problems within the pipeline. Discussion and Analysis From the study, quantitative performance parameters are very vital in the determination of the implications. The direct economic gains, the public perceptions and the possible environmental hazard determine the quantitative measures that are used. Based on the parameters the implication of the factors was emphasized. According to the study findings, the environment becomes one of the major concerns by not only the public but also the industrialists and the governments. As a result, the project has taken keen measures to avert any environmental hazards that may occur. Another important environmental aspect that came out is how the project as well as relat ed industries will deal with the issues of carbon emissions. The major argument was that the pipeline increases the utilization of carbon fuels that causes an increase in the emissions. However, the proponents of the project argue that the measures taken are in accordance with the global requirements and conditions that have been put in place to reduce carbon emissions into the atmosphere. In addition, the US environmental regulations require that companies particularly dealing in fossil fuel have to meet environmental conditions that ensure reductions of emission in the atmosphere. Actions such as meeting the oil and gas pollution standards and carbon sequestration are some of the environmental precautions that will be undertaken by the project. The environmental oversight agencies have made it mandatory for companies to comply with not only the US environmental regulations but also global requirements. While considering the economic parameters through direct benefits including emp loyment opportunities, supportive industries, contribution of the project to the Growth of GDP, the results indicate an increasing trend. The indication is that there are increased benefits of the project. In essence, the environmental, economic and political indicators show positive impacts on the implementation of the project. Depending on the empirical indicators, the Keystone XL pipeline should be approved. Conclusion The economic, political and environmental analysis indicates positive implications of the project. The conclusion that can be drawn from the analyses is that the approval of the project will have positive results particularly on the economy despite few concerns over the environmental issues. In other words, the economic benefits are greater than the imminent costs. The economic, political, social and environmental evaluations are critical before the approval and implementation of major projects. Depending on the results of the environmental, economic and political implications, Keystone XL pipeline should be approved. Harnly, Nick. Cost-Benefit Analysis and the environment. Northampton, MA: Edward Elgar. Print. Hirschberg, Stefan. â€Å"Environmental, economic and social criteria and indicators for sustainability assessment of energy technologies.† Project Management Review, 6.2 (2007): 3-28. McAllister, Donald. Evaluation in Environmental Planning: Assessing Environmental, Social, Economic, and Political Trade-offs. Massachusetts: MIT Press, 2010. Print. Wang, Yan. â€Å"Environmental impact assessment of projects: new law, old problems.† Environmental Impact Assessment Review, 23.2 (2003): 543–579. Print.

The Theme of Dedication in the Movie Chariots of Fire Essay

The Theme of Dedication in the Movie Chariots of Fire - Essay Example This is because it involves the making of significant sacrifices, crucial decisions and options. It additionally involves the taking of several bold, courageous and unusual steps. At times, the choices may be tough if two vital options are involved. It is such choices that may lead to criticisms and discouragements from others. In this case, dedication plays an essential role in giving an individual the will to continue while bearing in mind the benefits of his or her activities. Ultimately the fruits of the action of dedicated people are shown from the impact they create in the society as well as the reputation they present to the society. Dedication and Perseverance in â€Å"Chariot of Fire† The main theme brought out in this movie is that of dedication and commitment. This is shown in the events and results of the races in which Abraham and Liddell participated. It is revealed that for an individual to have this strong drive of dedication there is an underlying reason. This is considered the main element that makes him strong in the implementation of his actions. Abraham notices a high level of anti Semitism among the staff and students at the University of Cambridge. He is convinced that he can take part in an activity that will prove the ability of Jews to succeed and thus eliminate prejudice (Bradshaw par. 1). It is one of the actions that he uses to cover their prejudice and superior feeling by ignoring their criticisms. Liddell, on the other hand, gains enjoyment from serving God as a son of missionary parents. In spite of his sister; Jennie’s disapproval, he is convinced that, through his participation in competitive running, he will get a chance to glorify God (Ben, Charleson and Havers). This is before he goes for missionary work in China. As such, his main dedication is in the overall service of God in different fields. In addition, the action in which someone is to be dedicated should elicit the feeling of enjoyment. Despite the preju dice Abraham enjoys taking part in the Gilbert and Sullivan club. As such, dedication id brought about by various motivational factors. They include the numerous wins and victories that Abrahams gets within the college and in other national competition (Bradley, 576). These include the first time historical win at the Great Court run. It is these activities that give him the confidence of a greater win. It is from this that he attains the dedication to run in the effort to fight prejudice. In â€Å"Chariots of Fire† dedication is detected to be made stronger by the faced obstacles. During the 400 meter race, Liddell is tripped by a Frenchman. He is like Abraham, equally motivated by his performance, and recovers the distance to his win (Ben, Charleson and Havers). This opinion is especially influenced by their convictions to take part in the race. Nonetheless, the main difference between the intended purposes of the Jew and Christian in running activities also reveals this. W hile the Scottish Eric Liddell does it in order to glorify God, the Jewish Harold Abraham runs to escape from prejudice. The desire to achieve these purposes in the race prevents them from being discouraged and instead provides them with the strength to pursue their goals towards success. They thus possess a powerful will despite their different religious and racial affiliations. Ben, Charleson, and Havers use it to show that dedication in the same field surpasses the differences in different aspects.

Business Outreach program - Anaytical report Research Proposal

Business Outreach program - Anaytical report - Research Proposal Example The American Housing Family is an organization that deals with equipping homeless and low-income individuals and families, providing permanent affordable housing, and improving their lives to become self-supporting members of the society. Even though this project is of great help to the homeless and the less fortunate, the issue of ventilation standards is a major matter to the peoples’ health. Poor ventilation standards result inthe risk of easily conducting dangerous diseases like asthma. A research that was done in 2009 showed that above 50% of homeless people had at least one respiratory manifestation. Another publication on Building and Environment in 2012 showed that improvement in air conditioning reduces the risk of asthma symptoms to the residents. Companies who engage in such projects not only stand a chance to fame but also grow economically and socially. Deploying the HVAC by Solaris to the American Housing Family will boost Solaris growth and also Products’ recognition globally. Solaris will also gain the merit of quality product trust at little or no cost which is the main weapon to success. Many companies strive and use a lot of their resources while trying to gain customers trust with their products. â€Å"Joining the society contributes to an atmosphere of integrity, social awareness, and excellence† (Tichy, McGill, & St. Clair, 1997, p. 173). Our group chose The American Housing Family for the Outreach Program due to the fact that they have local shelters in OC County and have different types of housing. They have wide recognitions globally and reputations for awards. Solaris deploying community services to the American Housing Family will improve on global recognitions, social and economic