Cross Border Strategic Takeovers: The Case of Cadbury

Cross Border Strategic Takeovers: The Case of Cadbury Cross border strategic takeovers test the investment ability to earn above the average market return. But taking over Cadbury explores beyond monetary gain. The deal is a defiance of cultural pride, countrymen sentiment and confidence in corporate. In free market economy transnational corporations ambition a strategic structure to skirt flat line company growth. Inevitably, organization structures have evolved into very complex ones, where explanations are in many scholastic studies: Egelhoff 1982, Dunning 1993, Stopford Wells 1972, Franko 1976, Galbraith Nathanson 1978, Robock Simmonds 1973. A traditional structure simply concerned a broad international presence. Typically, these consisted independent operations in the handle of an expatriate. In its proliferation, the facilitation of information flow prompted the creation of offshore headquarters which functioned isolate of the local core group (Barber, J. P. 2002, pp.1-5). However, these international structures had about one third of the offshore venture in the form of shared ownership (Casseres 2006, p. 4). What firms manifest these days is cognizant of the global outlook. Less differentiation is placed on the local operations vis-a-vis the international division. Strategic structures shift authority and responsibility to the central domain, without the former single line authority in force, rather a multiple lines responsibility (Barber, J. P. 2002, pp.1-5). Sheer size is given importance in the new corporate international strategy (Egelhoff 1988, p. 1-14). A Precise Pair (Possible reasons why Kraft identified Cadbury as a suitable partner) Kraft Foods, Inc. envisions global domination of the confectionery world (Wiggins 2010, sc. 3), and Cadbury would be the pair of precision. These firms have similar and complimenting features, when combined can operate more competently. They are alike because each is an industry icon that spells out of a history of corporate prestige. In the same way these firms compliment, having pursued a different market position in product lines such as novelty brands Oreo cookies over dairy milk chocolate. Cadbury and Kraft supplement one another in geographical footprint, thus distribution lines are less redundant, if not broadened (Beaudin, 2010). In the context and analysis of industry, a pair of firms can operate more competently when combined. In fact, dissimilar capabilities are often synchronized in the manufacture of opposite goods (Casseres 2006, p. 8-12). Acquisitions improve efficiency by seizure of synergies between firms (Crosoni, Gomes, McGinn, Noth 2004, p.481-512). When put together, Cadbury-Kraft becomes an industry powerhouse. Both sum up an unrivalled portfolio of tremendous potential (The Independent 2010, sc. 2-4). The long term forecast revenues are estimated at a strait annual 5% upward trend in revenues and company growth at 9-11%. On its own, Kraft revenues rises at about 4% with company growth of 7- 9%. A prolonged growth in revenues determines annual cost savings of $625 million (Value Expectations 2010, sc. 1-3). It is argued that such transformation creates larger economies of scale higher and larger geographical markets (Lambrecht 2000, p.1-4). The takeover is meant to reshape market competition, imposing influence on emerging markets. The industry for chocolate and sweets is quite gaping and loosely split between international conglomerates: Mars, Wrigley, Kraft, Hershey, Ferrero and Nestlà © (Beaudin 2010, sc. 1-4). By the acquisition of Cadbury, Kraft assumes to suppress rivalry by the bundle of capabilities (Casseres 2006, p. 8-12). In other words, the industry turns out to be less competitive and too concentrated (Crosoni, Gomes, McGinn, Noth 2004, p.481-512). And why global shares are expected to rise by 5% points from the estimated 20% holding for both firms (Value Expectations 2010, sc. 1-3). Takeovers can reduce production costs at minimal or result in bullish strategies such as predatory pricing against remaining industry players (Crosoni, Gomes, McGinn, Noth 2004, p.481-512). Or-simply a means to breakaway from the discipline of market competition, while economic benefits are reaped and a barrier to entry fortified (Herings, Peeters Schinkel 2005, p. 20). Kraft benefits the niche knowledge and experience of Cadbury. And the new firm brings together invaluable insights by encountering methods of another industry player (ArticleSnatch.com, 2010, sc.3). Bitter Deal (Why a hostile takeover was considered the most appropriate means of acquisition) There could be no appropriate manner to put an end to an Englishmans 186-year old dairy milk maker. Simply because Cadbury is a source of pride and pomposity nearly as important to British culture as the Beatles (quoting Bloomberg Businessweek publication 9 Feb 2010); the deal shall forever be looked upon as a hostile takeover. Not that it is forgivable, a hostile takeover is assumed when organization management is unreceptive of the acquisition process, even when the company has a market valuation below net asset (Casseres 2006, p. 8-12). Theory and practice determine that stock price maximization sits as the foremost objective of a corporation. In the Kraft-Cadbury situation, the business outline of both companies show a consistent cash flows but a severely incapacitate growth opportunities. Market value net investment capital remained flat for some period of time (Value Expectations 2010, sc. 1-3). It is reasoned that the Cadbury takeover allows for a strategic structure expected to churn annual revenues of $50 billion across 160 countries (Wiggins 2010, sc. 2-6). Cadbury by itself consistently held about 10% share in the global market or what Wiggins describes as a slim lead over competitors. That is, with little put into marketing, innovation and capital expenditure, the company growth waned (Wiggins 2010, sc. 2-6). The restructuring mechanism offered a handsome post merger ownership share. What the investor obtains of the new firm is a crucial payoff and decisive gain (Lambrecht 2000, p.1-4). The closing price of 850 pence in 60% cash plus 40% stock ratio (Wiggins 2010, sc. 2-6). Cadbury was a vulnerable target, the takeover timing immediate. The company suffered losses and financial targets berserk. The 75 age old plant at Somerdale was earmarked for closure with 500 jobs slashed. Onsite operations were to be moved to the Bournville plant in Birmingham by 2010 and to the new Poland facility. Brands manufactured at Somerdale are the Cadbury Mini-Egg, Curly Wurly, Chocolate Creeam, Fudge and Turkish Delight (House of Commons 2010, p.9). The Salmonella contamination of 2006, recalled over a million chocolate bars plus a breach of safety penalty of  £1m and an accounting scandal in Nigeria took out on profits (Wiggins 2010, sc. 2-6). Domino Effect (What external events gave rise to the opportunity of acquiring Cadbury?) The global economic turndown triggered innovations and larger transformations, which in turn gives rise to the hostile takeover of Cadbury. Any basic change in the economic environment can do so, such as alterations in policy or industry innovations (Lambrecht 2000, p.1-4). It can be said that globalization itself heightens brand definition and competition that firms are continually on the look out for strategic moves. Growth patterns are also seen to shift the Asia region, as the result of population growth and consumer style. Change in consumer habits: the American consumers were moving into health drinks, affecting upon Gorts economic disturbance theory. This suggests that the high level mergers among soda companies: Coca Cola Company, PepsiCo and Danone, resulted instabilities in the umbrella company and the eventual separation of Dr. Pepper Snapple Group (Ganesh 2010, p.17-25). Strategist Todd Stitzer sought out to demerge its US soft drinks and confectionery businesses, which was carried out a few years ahead (Wiggins 2010, sc. 2-6). Given these events put forth uncertainty, Cadbury shareholders had differing opinions as on the true value of share. The economic disturbance theory asserts that valuation differences cultivate ground for takeover transactions. The narrowing profit margin expensed into raw materials is one compelling external factor making takeovers palatable. As the economic turndown cuts deeper into food companies profits, many brands downgrade ingredients. The Cadbury attempt to shift to palm oil stirred consumer outrage and disapproval of environmentalists, even losing out considerable money. Decisions of acquisition touch further the organizational effort and cost savings on information transfer, contracts, principal-agent relationships, incentives and transaction costs (Casseres 2006, p. 8-12). Cadbury profit margins plunged by 7 percentage points in 2008 from 22% in 2004 (Value Expectations 2010, sc. 1-3). Bullheaded (How differing negotiation styles could have had an impact on the initial discussions on Kraft and Cadbury) Kraft paid a wildly higher price by sheer ill conduct while negotiating the deal. Had it not focused only on its own interests and empty of concern in the emotional significance of the deal, the acquisition could have cost less. Ill conduct was an expressed a lack of respect, what is an essential ingredient in cross border transactions. The initial offering of 10.5 billion pounds -or $17.1 billion was slammed as derisory (London Associated Press 2010, sc. 1), KFI proposed to buy 300 pence in cash plus 0.2589 of the new Kraft Foods share, which comes to the value of 745 pence (Value Expectations 2010, sc. 1-3). A turnaround recommendation by the Cadbury board was made on the offer of 850 pence in 60% cash plus 40% stock ratio (Wiggins 2010, sc. 2-6). Too low an opening bid stirred resentment, if at all tore apart members of the board in humiliation. Seemingly very American is the abrasive and brute, which in return lagged the negotiation and KFI risked its credit rating and dividends by borrowing heavily to fill out a high closing price (Value Expectations 2010, sc. 1-3). A bid opening price forecasts the value of these combined entities which under the new strategic structure ought to be much higher. The price derives from cost reductions in labor or Capexes, market power, consumer access and specialization, supply chain accountability, debt tax shields, management empowerment, financial controllership, and many factors studies. The same way, it leaves a psychological imprint on board members of the target firm (Baker, Pan Wurgler 2009, p.7-20). Corporate motif permeates negotiating style. Having that KFI is made up of everything and anything it swallows, with a high subsidiary turnover rates, speculations on a one sided talk lets up an overprotective Cadbury board (Beaudin 2010, sc. 1-4). It seems Kraft took advantage of the announcement to close the Somerdale facility, using this as a reference point for perceived value (Baker, Pan Wurgler 2009, p.7-20). A better manner would be to propose acquisition, after the potential synergies are identified and additional value determined (Crosoni, Gomes, McGinn Noth 2004, p.481-512). Compelling Convictions (How could such disparate cultures have an impact on the initial period of the new organisation) In an interview with Namrata Singh during his Asia tour of duty, mention that the company was working quickly, but thoughtfully on issues related to mending cultural differences. Clearly, the excitement set in and people at work look forward to the growth opportunities of the merger. KFI is noted to have built a depth of cross-cultural talent, leadership soars with the exceptional fusion of leaders with global mindset. People begin with identifying similarities. KFI and Cadbury share a familiar passion for brands and are ready to trust in local groups. Preparatory seminars are held to brainstorm how to begin growing faster together. Employee enthusiast seek ways to unleash the best of both companies (The Times of India 2010, sc.1-3). Insofar Cadbury culture is distinctive of a reputation for evenhandedness with employees and in its business practices. It practiced philanthropy during wartime, as it a forerunner of fair trade practice (House of Commons 2010, p.23). The Englishman Employment Policy is subject to TUPE (Transfer of Undertakings-Protection of Employment). Private sector companies are to carry over appointment contracts unchanged between the transferor and the transferee, to prevent the dismissal. Many services in the bureaucracy are expected to be outsourced to the private sector. These contracts will require TUPE 2006 to be fully taken into account. TUPE provides transferring hires the choice to join a replacement pension scheme with equivalent conditions and matched contribution rates up to 6% of basic salary (Huard 2010, p.2-7). A takeover succeeds when key employees are encouraged and motivated to start new work arrangements. KFI could rue the day failing to come across a commitment to reemploy several knowledgeable, experienced workers at Cadbury Keynsham. The house of Commons notes that the commitment only extends to Kraft employees in manufacturing, and do not apply for post redundancy in divisions of finance, legal and communications (House of Commons 2010, p.9). State Intervention (Critically appraise the involvement of national Governments in cross border transactions such as Kraft in the acquisition of Cadbury) State intervention in the Cadbury takeover is less authoritative, if not feeble. Unlike Governments of China or Japan, were extensive sensitivity and involvement is put out to bail legendary business institutions. To some nations, a taskforce is established for the purpose of overseeing takeover procedures. While State actions could end up futile or restraint, the gesture looks out for future generations, the same as protectorate of heritage. The House of Commons convened to investigate the Cadbury takeover only after the deal came through. Changes in public policy must step up with Cadbury gone (House of Commons 2010, p.3). The overall idea is to re think a British market that is less open or permissive. The takeover Code was authored in an environment where ownership models were quite different (Wiggins 2010, sc. 2-6), and neglect on the part of the State is a subject of public debate. Economic policy in other advanced nations, France and USA, are designed to ward off corporate scavengers. Policy stipulates existing shareholders can acquire voluminous shares at a price below the market if a prospector influences a buyout without board approval. The provision, which is granted to privilege holders typically the founders and top executives, wards off corporate scavengers deliberately. In effect it has reduced costs on litigations and worry on hostile takeovers (Mebran 2005, sc.1-5). Due Diligence (You are to review and critically analise the concept of due diligence and present a reasoned argument as to why it should help companies like Kraft avoid acting irresponsibly and unwisely) Due diligence is a requisite for a smooth and subtle takeover. It is expected that the bidder conducts exhaustive study on the subsidiaries that make up a firm such to arrive at an agreeable, suitable acquisition structure (Birkett 2003, p.1-6). With reference to the opening price of 745 pence per ordinary share, this translates to about $50 per ADR. Equally, the new firm should achieve a top line growth of 10% annually and EBITDA margins of 27%. To justify the price offering, that bottom line pattern should continues from 2010 to 2014. Experts think this is too ambitious a proposition (Value Expectations 2010, sc. 1-3). The impact of psychological pricing is very real (Baker, Pan Wurgler 2009, p.7-20). Although a quick refusal transpired after KFI rendered an opening bid, it set out bad blood (The Wall Street Journal 2010, sc 1). A bidder who comes prepared will gauge psyche of the target and set out to build a good working relationship. On the average, investors are disposition averse; the prospect theory suggests that more are hesitant to sell stocks with losses on paper than when stocks show gains. It is also Perceptiveness is expected at the senior level, and trickles down to the rest of the firm (Baker, Pan Wurgler 2009, p.7-20). Kraft borrowed heavily to buy Cadbury (Beaudin 2010, sc. 1-4). The purchase is outsourced through the sale of the DiGiorno and Tombstone pizza brands to Nestle SA (Chicago Business 2010, sc. 2-5). This suggests that Kraft could have overvalued the operational performance to come through with the assumptions of the transaction (Value Expectations 2010, sc. 1-3). Or possible, that the takeover results from a inaccurate valuations on the stock market (Lambrecht 2000, p.1-4). The $19 billion takeover places KFI in sizeable debt, the pay down of integrating two formidable, transnational businesses. The estimated cost synergies from the putting together Cadbury and KFI has been raised to $750 million (Cordeiro 2010, p.1-4). Principled negotiations focus on what is meaningful to a target (Birkett 2003, p.1-6). Consider what is valuable to the target business, other than costs. A negotiator can lose something more valuable, such as company reputation, when engaging without evaluating this dimension. This can extend to understanding the social dynamics in which the target operates (Lambrecht 2000, p.1-4). It is unwise to say anything about the terms before this is formalized this could break the agreement. A week after the takeover, or on 9 Feb 2010, Kraft presents conclusively, its intention to shut down the Somerdale factory. The decision is a reversal of its foremost commitment to Cadbury at the outset (House of Commons 2010, p.17).

We Can Do It!

Riveter Looking at this war poster as a whole looks very normal to many viewers (it contains a statement which states â€Å"We Can Do It! † in white letters with a blue background). It also contains two main colors; blue and yellow. Rosie the riveter is the main person in the ad, along with the main subject. She is wearing a blue collar shirt, an orange and white hair scarf and a collar button. At the bottom of the ad is a large W letter underlined which stands for women's rights ( women's right logo is right underneath the letter W).Along with the letter is a war production committee logo in the right orner. With this statement in the ad and Rosie the riveter as the main subject a viewer can tell that the poster was used in the 1940's. During this time, many male workers were off fighting in the war, causing females to begin working in the factories. Soon after males returned home they desired females to return to their home making Jobs. Enjoying the new freedom, females were very doubtful about returning to house making Jobs. This ad explains how color portrays masculinity, how the statement â€Å"We Can Do It! in this ad expresses the emotions, struggles and goals of females during the war time and Rosie the riveter showing her muscles, ymbolizes power. The background of this ad uses colors to portray deeper meanings to its viewers. The naw blue color behind the statement â€Å"We Can Do It! † explains the false statement that it takes masculinity to work in factories. For many years males were the only workers working in factories, so custom to tradition it was abnormal to think that females had the ability to work in factories.Leading to the letters â€Å"We Can Do It† to be written in white bold letters on top of the naw blue. The white bold letters are symbolizing the purity in the work force, females in factories. Females at his time wanted to work in factories and not return to the house making Jobs. Another color seen throughout this ad is bright yellow. The main color is yellow; yellow symbolizes a storm. The storm for females at this time was being stuck, stuck in a position on a house maker, a mother and a wife. Females going to work in factories and saying â€Å"We Can Do It! was busting through the typical role of a house maker and allowed females to pass through the storm of being stuck. The statement â€Å"We Can Do It! † in this ad expresses the emotions, struggles and goals of females during the war time. Women at this time were struggling to come out of the typical female role as a house maker and show that as females they could work Just as hard as males. Struggling to overcome traditional stereotypes brought out many emotions in females. With all these emotions females started to make goals and statements around the world.In this ad right under the words â€Å"We Can Do It! † Rosie the riveter has a very serious and emotional look on her face. Having a serious look on her face is stating that females were done feeling inferior and unimportant to society, tired of being doubted by the males of th e world. Along with her serious look, Rosie the iveter was wearing make-up and a hair bandana. The hair bandana and make-up are displaying that with all the statements about working Just as hard as males and tired of feeling inferior, females can still be females.Rosie the riveter is showing her muscle in this ad to symbolize power. Half of her sleeve is rolled up to symbolize what nas already started and what is yet to come, temale power. Following ner arm down to her hand, she shows a closed fist. Her fist displays two things; fghting action towards those who will try to stand in her way and a closed mind to her opinion as if no one can tell her what she is doing is wrong. Along with showing her muscles and fist, she also has a female power button on her collar.This button shows strength in numbers since she's visually saying that it takes more than one person to c hange the image of females and roles they play. In addition to the button, Rosie has a blue collar shirt verse a white collar shirt. The blue collar shirt stands for manual labor working. Manual labor working is what females wanted at this time, not to work as a major or a white collar worker. As we can see with posters like this, symbolism is shown throughout images all around. To fully understand ads and posters ometimes you have to dig a little deeper for true meanings.Rosie the riveter helps explain the message females wanted to convey at this time, to work in factories along with males. This poster helps explain not only what it says, â€Å"We Can Do It† but also the struggle, goals and emotions that females had during this time. With showing emotions, struggles and goals, this ad also visual explains the power females had. Knowing the struggle females had during the war time, makes me appreciate being a female even more. Work Cited â€Å"Rosie the Riveter. † 2011 .. Online Image. Women Working During World War 2. Web. 23 Oct

Cyberbullying versus Traditional Bullying - 1690 Words

Bullying has been around since the beginning of time. Parents may remember when they were kids and the bully would pick on them or their friends by stealing lunch money or just getting beat up, and that was the end of it. The victims remember the hurt, frustration, and sadness it caused. However, these days, bullying is not just happening on the playground or at the bus stop, it is happening on the Internet and on cell phones, making it possible to bully a child 24 hours a day with multiple bullies and thousands of kids watching. Cyberbullying follows children nonstop and into the safety of their house. Sometimes kids are afraid to inform their parents about the cyberbullying that they will think its there fault. Or that their parents will call the bullies parents or other parents, making the bullying worse. However, the effect and pain that comes from cyberbullying is real. People underestimate cyberbullying, just because it is happening online and not in person. Cyberbullying can l ead to many different factors like drinking, and drugs, poor grades, depression, eating disorders. Many students have even taken their own lives because of another student saying something to them online. Cyberbullying has been taking place a lot more in middle and high schools because of the increased usage of social media networks and technology. Cyberbullying is worse and more harmful than traditional bullying. The first reason cyberbullying is worse than traditional bullying is thatShow MoreRelatedTraditional And Cyberbullying : The Differences And Effects On Children And Learning996 Words   |  4 PagesTraditional and Cyberbullying: The Differences and Effects on Children and Learning In the news, there have been reports told about school shootings over the last several years. When it comes to these school shootings, most of them were committed by students who were being bullied, and wanted the bullying to stop. 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Case Study on The BP Texas City Huge Explosion

Introduction of the Case Study The BP Texas City explosion is among the world’s biggest catastrophic disasters that saw the loss of 15 lives of the BP workers and 170 workers being injured by the huge explosion. The accident was actually caused when a few workers tried to start up a splitter referred to as raffinate tower in the Isomerization Unit (Isom) after a repair shutdown (Mogford, 2005). Alarms and instrumentation gave misguiding indications since the 170 ft tower was actually overfilled discharging the liquid to the ‘blowdown’. This ‘was actually installed in the 1950’s and had never had any connections to the flare which is supposed to contain liquids and dangerous vapors released from the blowdown. This actually was one of the main causes and failures of the BP management. The liquid vapor really was lit by fire from a truck near the plant (Professional Engineering Publishing, 2005). Discussion Several commendable and blamable decisions were made regarding the explosion which can be classified as either merits or demerits towards the management of the hazardous and most violent explosion. The first culpable and admirable decision made was the decision of the BP to fully implement the report put forward by the Baker’s Panel, an independent Safety Review Panel, which actually investigated and found out that the BP Texas City lacked a daily operation discipline in terms of time management which lead to workers reporting to work late during their shifts. The second appraisable decision made by BP was its resolution to reinforce and strengthen the governance and management team. This is an ethical decision that will ensure that the management of the company is run well and smoothly avoiding further incidences that may be catastrophic. Secondly, the decision of BP to commit itself to offer safety to its workers including producing energy that is environment friendly is really a laudable decision that deserves praise and applause (Verschoor, 2010). The decision of the BP management to implement these factors is considered laudable, admirable and praiseworthy since they are seen as upholding ethics, humanity and good moral values since workers health and safety should highly be safeguarded and taken care of. As a matter of fact this can be considered and ranked as a merit towards restoring back the reputation of the Texas City BP oil refinery company and also can be debated as a merit towards ensuring that the BP Workers as safeguarded f rom all the risks and dangers posed by the greedy BP management system in London whose main focus was just to increase their production targets, operational goals by cutting down expenses and investments by all means. The second praiseworthy and brave decision taken by BP was deciding to pay and compensate the families of the deceased and most affected by the tragedy. This is more ethical, just and right since BP is actually trying to take responsibility for its failure to actually provide safety to its workers (Sissell, 2006). On the contrary, one of the blamable and culpable decisions was made by the BP headquarter management system in London. They decided to put blame to the local managers in Texas for the cause of explosion claiming that they failed in detecting tragedy. Also, their decision to fire some of the workers who were responsible for the incident can be considered as being unreasonable since they actually were forgetting that the same workers and managers had been calling for more funds to be able to reinforce the company. This is also considered unethical and lack of morality since these workers rights need be protected. In the first place, the company had stayed for a long time wit hout really undergoing major repairs and maintenance which really put lives of the workers at stake. In this context, the culprits who were responsible for the cause of the explosion do not really bear a lot of blame on them provided that the company was also in a compromising state. The whole management team in London was actually to blame for their failure to construct a flare to be able to safeguard the condensed vapor. They are also responsible for the lack of implementation of the proper and safe training measurements for its workers regarding the safety of the company (Penton Publishing, 2007). Some of the risk management experts argue and contend that blame should actually be placed at the party whose risks involvement measurements are high and where the risk management measurements are actually low (Andersen, 2010). In my opinion, the culprits do not actually deserve the full blame by the government, BP management system and every one. This is because, according to the standard ways of blame management, they did not have much to be blamed for since the signaling system did not really raise any warning that the barrel was full. In addition, the company’s refinery system was actually very old which actually does not provide the culprits with much to be blamed for. In fact, the management team in London had turned down several calls by the local supervisors and workers regarding the pathetic state at which the Texas Company was. In this case, various external governance expectations especially by various government bodies like the US Chemical Safety and Hazard Investigation Board (CSB) actually help to protect victims of corporate misconduct more effectively and successfully than the ethical constraints and limitations. The action of CSB conducting various investigations regarding the standard safety measures of the workers actually provided much evidence that protected the PB workers. The report actually pushed the blame more to the management board rather than the workforce who really were liable of the mishap. For example, the CSB found that many warning signs were raised by various people and officers regarding the safety of the BP Company actually before the real explosion took place. This investigation in real compromises with the victims’ misconduct and shifts much of the blame to the Company. On the other hand, external governance actually cannot effectively manage the ethical and moral limita tions since there are no laws set to manage and foresee that actually victims’ ethical constraints are protected. Finally, this case is related to the three Grangemouth incidents in the sense that, similar external governance actually gave a report that suggested major flaws in the safety of the victims. The report was filed by Health and Safety Executive (HSE). Another similar case in which external governance constraints and expectations really might protect victims of corporate misconduct more effectively than ethical constraints is the case where the governments ‘watchdog’, Occupational Safety and Health Administration (OSHA), blamed the BP company for taking for granted the safety of its workers. It actually fined BP Company $ 21 million over the Texas explosion (Greenhouse, 2010). In this case, the external governance actually defends and shields the misdemeanors, delinquency and transgression of the victims of the BP explosion more effectively than really their ethical and moral limitations. OSHA actually was very much inconsiderate of the fact that the victims of corporate misconduct might have been on the wrong and might have gone against the ethics and morals of the Company to the extent of delaying to report to their shifts in time. References Sissel, K. (2006, November). BP Settle with Daughter of Two Killed in Texas City. Chemical Week, 26. Professional Engineering Publishing. (2005, May). Staff Failures Cause of Explosion at BP Plant, News, 11. Andersen, S. (2005, August). Risk and Reputation: The Unsettling Governance Landscape. Inside Counsel, 51-54. Verschoor, C. C. (2010, August). BP Still Hasn’t Learned Ethical Lessons. Ethics, 13-15. Penton Publishing. (2007, June). BP Blames Managers for Texas City. Occupational Hazards, 22. Greenhouse, S. (2010, August). BP To Pay Record Fine for Refinery. The New York Times, B1. Retrieved on 10 January, 2011. From http://www.nytimes.com/2010/08/13/business/13bp.html?_r=1 Mogford, J. (2005). Fatal Accident Investigation Report: Isomerization Unit Explosion Final Report, 1-176. Retrieved on 10 January, 2011. From http://www.bp.com/liveassets/bp_internet/us/bp_us_english/STAGING/local_assets/downloads/t/final_report.pdf.

Sex And Sex Work The Provision Of Sexual Services For...

To understand sex work it is first essential to define it, the World Health Organisation defines sex work as â€Å"the provision of sexual services for money or goods. Sex workers are women, men and transgendered people who receive money or goods in exchange for sexual services, and who consciously define those activities as income generating even if they do not consider sex work as their occupation.† This notion of sex work suggests that it is a job, sex and sex work are deemed to be commodities under capitalism. When specifically discussing women who participate in sex work it can be said that sex work is a liberating form of sexual expression which is a job superior to others as it offers flexible working hours, autonomy and often a self decided salary. It can be said that a female sex worker breaks the bonds of patriarchy as this line of work enables the worker to gain control over a male patron. When looking at the impact capitalism has had on sex work it is vital to avoi d this idea of celebrating female empowerment until it can be seen for certain rather than a rose tinted and unrealistic view of sex workers. It is widely know that a economic necessity is the cause of women foraying into sex work and the sex industry. A important distinction must be made between the glorified stance on sex work and the oppression faced by sex workers and to understand this it is necessary to understand the relationship between capitalism, sex work, the sex industry and the oppression ofShow MoreRelatedProstitution And Its Effect On Society Essay1630 Words   |  7 Pagesstill legal in some rural counties of Nevada, including areas outside of Las Vegas. Prostitution is the provision of sexual services for a negotiated payment between consenting adults. Prostitution is a service industry like any other in which people exchange services for money or other reward. 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The Great Gatsby, a novel of the past Free Essays

The Great Gatsby by F. Scott Fitzgerald is a novel written in the past. The characters chase visions of the future that are determined by their past, which leads them to tragedy. We will write a custom essay sample on The Great Gatsby, a novel of the past or any similar topic only for you Order Now The protagonist, Jay Gatsby, has dedicated his entire life to recapturing the perfect past with his soul mate, Daisy. Even though he believes that recreating the past is his life’s goal, this leaves a tragic, heart-breaking, and disastrous ending to the novel. When Nick Carraway, the narrator, tells Gatsby that you can’t repeat the past, Gatsby replies, â€Å"Why of course you can! † this is because when he has a month of fun love with Daisy, he thinks that that can compete with the years and experiences she has shared with Tom, which was proven wrong when she admits she is also still has feelings for Tom. The effect of the exclamation mark shows the emotional outburst he has and exaggerates his excitement to win back Daisy, as it is his version of the American Dream. Gatsbys mansion is a physical symbol of his love for Daisy, he is certain that money can reconstruct his history with her. Gatsby uses his â€Å"new money’ to create a home that he thought equalled houses of â€Å"old money’, which is ironic as the segregation between societies is what had taken her away from him originally. The novel is told in a linear fashion but not in chronological order, it includes many flashbacks and moments in time. Even though there is a lack of faith whether the narrator is reliable or trustworthy, it adds realism as the reader’s life is also not in chronological order. The reason for this is because Fitzgerald uses an impressionistic arrative technique, where Nick tries to make sense of the events in the story and comments on them, which mirrors the same way we do as readers. He focuses on the past as he has in fear of the future without Gatsby. There are hints and accusations that Nick is homosexual and in love with him. Greg Olear, in an article on The Weeklings, highlights that his description of Jordan Baker in Chapter One â€Å"could be a description of a man† and â€Å"the word ‘small breasted’ which de-emphasizes the golfer’s feminine attributes. This could explain why he fixates on the past and idealises it. Technology plays a big role in the novel in ending huge opportunities and futures, especially with Tom’s marriage and love affair. The tension created in the novel when his house phone rings is vast as even though we are not told who is calling, the reader knows it is Tom’s lover. This may be the reason that Daisy feels obliged to have an affair as she is rebelling against Tom. Another example of technology is Gatsbys yellow car which kills Myrtle. The description of her death is xtremely vivid to create an image in the reader’s brain, â€Å"her left breast was swinging loose like a flap. † The significance of the symbol of her â€Å"left breast† is femininity and motherhood. It is being ripped off her body as she dies; translating that her femininity led to her death or that it had been taken away from her because of her lower class birth. The Lost Generation involves a group of writers, including Fitzgerald, who during the First World War and the Great Depression moved to France, Paris, for its inexpensive cost of living. https://donemyessay.com/the-great-gatsby-novel-questions/ How to cite The Great Gatsby, a novel of the past, Papers

Comparison Of Michelangelo’S And Bernini’S Davids Essay Example For Students

Comparison Of Michelangelo’S And Bernini’S Davids Essay â€Å"The greatest artist has no conception which a single block of marble does not potentially contain within its mass, but only a hand obedient to the mind can penetrate to this image.† ~ Michelangelo BuonarrotiMichelangelo describes in the above quote what it is like to carve a likeness of a person out of a large block of marble. As we know from seeing his work, he did an excellent job with this task. Bernini did just as fine a job on his, but in a much different way as you will see in the following pages. MichelangeloMichelangelo was born on March 6, 1475, in Caprese, Italy, a tiny village, owned by the nearby city-state of Florence. His father was the mayor. He attended school in Florence, but he was preoccupied by art. When he was 13, his father agreed to apprentice him to some well-known painters in Florence. Michelangelo was unsatisfied with these artists, because they would not teach him their artistic secrets. He went to work under another sculptor hired by Lorenzo de Medici. When Michelangelo was 21, he went to Rome, where he was commissioned to carve a group of marble statues showing the Virgin Mary supporting the dead Christ on her knees. His sculpture was called Madonna Della Pieta, and it made Michelangelo famous. A few years later, in 1501, he accepted a commission for a statue of David. He took on the challenge of carving this beautiful work out of a â€Å"huge oblong chunk of pure white unflawed Carrara marble – some 18 feet high and weighing several tons that had been badly block out and then abandoned by an earlier sculptor† (Coughlan 85). This piece had always fascinated Michelangelo, but neither he, nor anyone else, could think of what to carve from it, until now (Coughlan 85). Thus began a new era in art, the High Renaissance. He began carving this statue for the city of Florence. It would become a symbol of this city, â€Å"a city willing to take on all comers in defense of its liberty† (Coughlan 91). The statue acquired this meaning by the way Michelangelo depicted this biblical character. Instead of presenting us with the winner of the battle, with the giant’s head at his feet and a sword in his hand like Donatello did many years before, he portrays David right before the battle begins. David is in the moment where his people are hesitating and Goliath is mocking him. He is placed in perfect contrapusto; in the same manner the Greeks represented their heroes (Heusinger 17). The right-hand side of the figure is composed, â€Å"while the left side, from the outstretched foot all the way up to the disheveled hair, is openly active and dynamic† (Heusinger 18). Frederick Hartt does an excellent job of describing the essence of the statue:â€Å"Throughout the statue, but especially in th e head, the conflict between line and form†¦ †¦is intensified and deepened. The features are more deeply undercut than in any of the earlier works, possibly because of the height from which the statue was originally intended to be seen. †¦The enormous eyes †¦seem at once liquid and fiery. The flat planes joining at determined angles underlie all the construction of the David, not only in the squared-off masses of the features but throughout the knotty, bony, sinewy, half- developed, and unprecedentedly beautiful torso and legs. For the first time Michelangelo is able to embody in the quality of a single human body all the passionate drama of a man’s inner nature. The sinews of the neck seem to tense and relax, the veins of the neck, hands and wrists to fill, the nostrils to pinch, the belly muscles to contract and the chest to lift with the intake of breath, the nipples to shrink and erect, the whole proud being to quiver like a war horse that smells the b attle. But the nature of the battle there is no indication whatever; it is eternal and in every man† (Hartt 112). A Critique of A Good Man is Hard to Find good hard EssayThe tension of the twisted body shows the force that David is ready to release. His foot grips the base of the statue to withstand the strain in the body. The action has reached that moment when the stone is about to be released. It is a marvel of dramatic action frozen in stone. â€Å"The unruly hair, the knitted brow, and above all the clenched mouth indicate one of those moments when the complete physical and psychic resources of the will are summoned to extraordinary effort† (Stokstad 759). The viewer becomes physically involved with the action of the statue. Davids eyes sight past us. The viewer’s space is his and will soon be the stones. The split second of time captured in the marble demands a single, clear point of view (Janson 556). By the time the David was finished, early in 1624, Bernini no longer had time for private commissions. The David, consequently, marks a real break in Berninis life. â€Å"Be rninis unification of real and artistic space stands at the center of most of the Baroque art in the following years. In some ways, the whole history of Berninis artistic journey can be seen as the unfolding of this idea, with ever-richer meanings and more powerful physical environments. A new unison of the arts emerged and the David stands at the beginning of this period† (â€Å"Berninidavid†). Comparison of the Two DavidsAlthough both of the above artists chose the same subject matter, there are many differences between their sculptures. The first difference is the moment the artist chose to represent. Michelangelo chose the moment just before the start of the battle. His David is thinking about what he is about to do. Bernini on the other hand, chose the split second before David launches the stone from his sling. By choosing this moment, Bernini has created a dramatic representation of an event frozen in time, suggesting the next series of events, the release of the stone and the death of Goliath. His figure is bursting with the same energy that Michelangelo had stored in his figure. Berninis figure implies another figure in our space, Goliath. David no longer a thing to look at in his own space, but is now in the viewer’s space. He has actively involved the viewer in the sculpture itself, like we have seen before in Hellenistic sculpture. Michelangelo introduced a new tension in his huge figure of David by showing him shortly before the battle, but no sculptor had ever tried to show the actual moment of the shot the way Bernini did. Within two hundred years of each other, four completely different statues of David appeared in Italy and all are great works in their own way. Donatellos came first, then Verrocchios, followed by Michelangelos, and finally that of Bernini. The four sculptors had completely different objectives. Only Bernini was interested in showing the actual action of the slaying of Goliath. Of the four statues, I think Berninis is the most dramatic and the most realistic. I think that is exactly what Bernini wanted to achieve. I also love Michelangelo’s David for other reasons. It is perfect in form, as is was meant to be, which makes the viewer believe that this is just a boy, even though he is seventeen feet tall. I believe both artists got their point across very well in embodying the artistic ideals at the time of their work. I also think they each did a wonderful job of telling a story that will live on forever, just as their names and sculptures will. Arts and Paintings