Case study Internal Control, LJB Company Example | Topics and Well Written Essays - 500 words

Internal Control, LJB Company - Case Study Example The report must explain the effectiveness of the internal control procedures and mechanisms of the company during the most current fiscal year. Some of controls areas that the SEC expects companies to cover include fraud prevention, risk assessment, and accounting procedures. SOX also includes a clause that stipulates that major executive managers of public companies, including the CEO, must sign the quarterly and annual financial statements assuring they are free of material error and fraud. If fraud is detected in the financial information, the CEO could be liable up to 25 years in prison (Whitecollarfirm, 2011). LBJ Company is doing some things well. The controller is a valuable asset to the business. The company uses multiple processes that are needed to have good internal controls such as bank reconciliations and asking for a written explanation if an employee uses the petty cash account. The petty cash process can be improved by asking the employees for a receipt of the purchase. Further recommendations to the petty cash process will be mentioned in the next paragraph. In terms of fostering a good corporate culture, the managerial staff is showing loyalty, empowerment, and a belief in the employees. There are many internal control issues at LBJ Company. First, the accounting department is understaffed, which has the controller serving too many functions. This creates internal control deficiencies in the entire system. The controller should not be making purchases, receiving checks, or making bank deposits. Nobody is overseeing the work performed by the controller. I recommend the company hire two additional accountants for the department. The company also needs to raise the level of accountability and to verify the work of the department. This can be done by implementing two company audits twice a year to be performed by an independent auditor with CPA credentials. The

Career Plan Essay Example for Free

Career Plan Essay I have completed the career profiler. I have learned that I am conventional, enterprising, and social. I am very detail orientated. My strengths include organizing, delivering results, following instructions, coping with pressure, entrepreneurial thinking, and I am goal focused. The career profiler accurately described my strengths. My work culture results were ethical, supportive, and well resourced. I believe in fairness and respect among all people. Each person needs to be responsible for their actions and learn from them. Support is a key point to any management position. A manger needs to be able to listen to their employees and focus on their welfare. A mangers role is to make their employees successful. I believe that this course has taught me to be a charismatic leader with a democratic style of leadership. I also like a well resourced company. In order to be successful at your job the company must have the resources for you to achieve. Working for a disorganized employer is very discouraging for an employee. I have also learned my weaknesses that I need to work on to further my career. I have learned that I need to working on my leading, networking, persuading, writing, presenting, and researching. I plan to work on these areas by becoming more confident and learning new techniques to improve on these skills. During this class I have learned new techniques and leadership theories that I can build on. I plan on building on the leadership theories so that I can prepare for Management Candidate School through USAA.

Reviewing The Usefulness Of Official Statistics Criminology Essay

Reviewing The Usefulness Of Official Statistics Criminology Essay Official statistics give information on the number of crimes commit that are collected directly from each police. They claim to provide answers to two questions; the extent of crime, and who commits it. Criminologists have identified the problem of official statistics giving a false picture of the level and type of crime that actually exists. As a result, other types of information are turned to including victim surveys, longitudinal research and self-report studies. This essay will begin by exploring the uses of official statistics then go on to explore the problems with the data. The other types of data available will then be outlined and the usefulness of them will be evaluated. Offical statistics are figures that have been collected by the police and are published by the Home Office annually and contain data on crimes known to by the police. Official statistics have the use of showing trends in crime that can easily be compared over time. For example, the Office for National Statistics (2008) published a report saying In England and Wales, 4,060 Anti-social Behaviour Orders (ASBOs) were issued in 2005, over 18 per cent more than the previous year. They also clearly show which social group is more likely to commit certain types of crime. This could be the persons age, ethnicity, social class. They allow police to know where their priorities should be and aid governments in setting their policies on crime. To a criminologists point of view, they are a free, secondary source of data that are going to be useful even if it is just to identify how much of a dark-figure there is. The term Dark-figure is ultimately the entire problem with using official statistics to study crime. The dark figure is defined as the amount of crime which is unreported or unknown about. The total amount of crime is made up of those that are known of and recorded, and the dark figure of crime (Online Dictionary Of The Social Sciences 2008). The dark figure is said to exist due to the social construction of crime. This is the idea that what is seen as criminal behaviour to one person may not be to another. The result there are crimes that the public to do not report to the police, and there are crimes that the police to not record. These make up a large number of crimes that are not recorded by the police, and make up the dark figure. Unreported crimes occur for a range of reasons, and are a massive contributor to the dark figure, which removes usefulness from official statistics. The police rely on the public to inform them about crime, they do not generally find out about crimes themselves. As Maguire et. Al (2002:322) said; whether people perceive a particular action or event as crime, let alone whether they report it as such to anyone elseà ¢Ã¢â€š ¬Ã‚ ¦can vary according to their own knowledge, awareness, or feelings about crime, which in turn may be influenced by the general public mood or the preoccupations of politicians and the media. Crimes will only generally go reported where there is a victim, therefore there is a large number of victimless crimes which the police are not getting told about. Typical crimes of this nature included traffic offences and violations of laws regarding public decency such as public drunkenness. These crimes will all contribute to the dark figure. Crimes may not be reported t o the police if it is not perceived to be serious. The victim may regard the offence as trivial and believe that reporting it to the police is more effort than it is worth. A major source of unreported crime comes from white-collar crimes. Edwin Sutherland came up with the concept in 1945 which, at the time, was a very different idea of crime from anything before (Coleman and Moyniham 1996:9). Sutherland (1940 cited in Coleman and Moyniham 1996:9) defined the concept as crimes committed by persons of respectability and high social status in the course of their occupations. Crimes of this nature could include bribery and corruption in business and politics, the breaking of trade regulations and breaking food and drug laws. Some crimes may be committed by organizations or corporations themselves, rather than an individual, and are often known as corporate crimes. Sutherland (1940 cited in Coleman and Moyniham 1996:9) explains how these types of crimes are very widespread, yet a measure of them doesnt appear in police records. Prosecutions are unlikely due to the apparent trivial nature of the crime, and often it is difficult to get sufficient evidence. Ge nerally, other procedures are used to deal with these criminals, such as civil actions or those of special agencies. Firms are unlikely to prosecute employees over internal crime to the company such as stealing property, as they believe the result will be their company looking bad. He goes on to explain that white-collar criminals are the most damaging of all due to the results. These crimes will therefore make up a large proportion of all crimes committed, yet the majority of them are not included in official statistics, so contributing to making them useful to study. Another major contributor to official statistics not giving a true picture on crime is crimes that go unrecorded by the police. Simmons and Dodd (2003) point out that the police have a legal obligation to record all crime, however over 30% of all crimes reported to the police in 2002/3 were not recorded. Cases where crimes arent recorded include cases where the crime is seen by the police as being trivial and the offence minor. The police may see that the time taken to fill in the paper work on a minor crime or one where catching the victim is unlikely is simply a waste of time. A process known as cuffing is where police downgrade crimes in order to meet Home Office efficiency targets. They may even make a crime disappear all together so it does not show up in statistics, for example theft can be downgraded to lost property, which is not a crime. This may be done in cases where police pay is partially determined by clean-up rates, so it is in their interest to have a low number of cr imes recorded. An example of this is in a recent news article where Alan Travis (2008) said, the Home Office disclosed that up to 17 police forces have been under-recording some types of the most serious violent crime. There is further dispute in the usefulness of official statistics from the problem that certain crimes appear more frequently than others. A key cause of this is media amplification. This is where certain crimes are concentrated on by the media and made out to be big problems (often when they are not), known as moral panics. The result is that the police will concentrate more of their time in areas where these people are. This could mean that the tendency of the police to concentrate in low income areas may mean higher arrests of the working class, which may distort the figures. It could also be argued that police resources are devoted to patrolling public places, which is where most young males spend their social life, so leading to higher arrest rates amongst them and distortion to the statistics. As a response to the problems of the data in official statistics, a number of alternative ways are also used to study crime. The most popular alternative if the British Crime Survey, which is a victimization study. The British Crime Survey was first conducted in 1981 and has become an annual event since 2000. The Home Office carries out the victim study so they dont have to simply rely on using police statistics to study crime, and see it as being more reliable than police statistics for certain types of crime. The survey itself involves asking a sample of 47,000 adults if they have been the victim of crime in the previous year. It also asks individuals if they reported the crime, and whether the police ultimately recorded it. Data from the British Crime Survey may reveal that there are either more or less offences in particular categories, implying that an offence is being either under reported or that it is being reported accurately. All in all then, the BCS data seems to indicate that official statistics on crime do not provide a valid picture of the extent of crime, and overall they may underestimate the trend.  However, we cannot say that the British Crime Survey is giving a true picture, as there are also many limitations with the survey. Maguire (2002) explains how there are categories of crime that are not included in the British Crime Survey that are included in police statistics. This could include cases where there is a commercial or corporate victim (such as shop-lifting), or if it is a victimless crime. He also noted that sexual offences have been reported so rarely that it is not possible to put forward reliable statistics. Another major flaw with the survey is that it excludes offences against victims under sixteen years old. He goes on to explain that national surveys are therefore much less useful at obtaining information about certain incidents of crime than others. He makes it clear that the BCS, therefore, it cannot be too heavily stressed , provides an alternative, rather than a directly comparable, overall picture of crime to that offered by police statistics: it is fuller than the latter in some respects, but narrower in others. (Maguire 2002). Another form of information on crime is Self-report studies. These are where questionnaires or interviews are conducted in confidence to collect information about individuals, and ask them to admit to the number of crimes they have committed, including those which they were not caught. The data can then be compared with official conviction rates to determine which offences are most likely to be committed. Maguire (2002) concluded that: On the one hand, these suggest that crime is committed by a much larger proportion of the population than is officially held responsible for it. On the other hand, survey respondents who have previously been in trouble with the law tend to admit to more serious and more frequent offending behaviour than people who have never been convicted The studies are useful as people generally do not fear getting in trouble for admitting to the offences, so a more valid picture of the number and extent of crime is given. Self-report studies do however come with fundamental problems. Unreliable answers are believed to be obtained as; respondents may exaggerate when answering questions, respondents may be embarrassed so either not admit to a crime or give an unreliable account of it, respondents may have forgotten the full details of a crime they committed. The majority of self-reported studies survey are conducted on samples of school and college students, and are rarely used on adults. This therefore doesnt make them a good technique in studying the general level of crime in society. The surveys are also likely to undercover minor and trivial crimes, but not find out about the major and less common more serious crimes. For this reason, the self-report study cannot be said to be an effective way of investigating crime. Overall, it appears that there is not single method effective in studying crime, and while the official statistics do contain the dark-figure, they do provide a very useful starting point. When used in combination with the British Crime Survey, the inaccuracy from the dark figure becomes less problematic, and a truer picture of crime is given. Neither is an effective source of information on its own, and only give part of the picture.

Drug Testing Is Illegal Essay -- Essays on Drug Testing

Making a person take a drug test violates their Fourth and Fifth Amendment rights under the constitution of the United States of America. Recently, there has been an increase in companies and schools using drug test. Some companies force their employees to submit to a drug test before being hired and randomly while employed. High school sport regulations require that all student athletes give consent to being randomly drug tested. Other schools are going as far as making all students give consent to being randomly drug tested.   Ã‚  Ã‚  Ã‚  Ã‚  The Fourth Amendment states, â€Å"The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated.† By taking a drug test, a person is being searched and having a sample to be tested seized without probable cause, therefore, companies and schools using a drug test are infringing on the student or employees rights. In South Carolina, a hospital was drug testing pregnant women and reporting the positive results to the police. The Supreme Court found this to be a violation of the Forth Amendment to the U.S. Constitution’s protection against unreasonable search and seizures without probable cause.   Ã‚  Ã‚  Ã‚  Ã‚  There is a very large possibility for an error on a drug test. If a person applying for a job takes a drug test and gets a false positive, this would cause him to not be hired. Also, if a company randomly tests an employ...

The Vampire Diaries: Dark Reunion Chapter One

â€Å"Things can be just like they were before,† said Caroline warmly, reaching out to squeeze Bonnie's hand. But it wasn't true. Nothing could ever be the way it had been before Elena died. Nothing. And Bonnie had serious misgivings about this party Caroline was trying to set up. A vague nagging in the pit of her stomach told her that for some reason it was a very, very bad idea. â€Å"Meredith's birthday is already over,† she pointed out. â€Å"It was last Saturday.† â€Å"But she didn't have a party, not a real party like this one. We've got all night; my parents won't be back until Sunday morning. Come on, Bonnie-just think how surprised she'll be.† Oh, she'll be surprised, all right, thought Bonnie. So surprised she just might kill me afterward. â€Å"Look, Caroline, the reason Meredith didn't have a big party is that she still doesn't feel much like celebrating. It seems-disrespectful, somehow-â€Å" â€Å"But that's wrong. Elena would want us to have a good time, you know she would. She loved parties. And she'd hate to see us sitting around and crying over her six months after she's gone.† Caroline leaned forward, her normally feline green eyes earnest and compelling. There was no artifice in them now, none of Caroline's usual nasty manipulation. Bonnie could tell she really meant it. â€Å"I want us to be friends again the way we used to be,† Caroline said. â€Å"We always used to celebrate our birthdays together, just the four of us, remember? And remember how the guys would always try to crash our parties? I wonder if they'll try this year.† Bonnie felt control of the situation slipping away from her. This is a bad idea, this is a very bad idea, she thought. But Caroline was going on, looking dreamy and almost romantic as she talked about the good old days. Bonnie didn't have the heart to tell her that the good old days were as dead as disco. â€Å"But there aren't even four of us anymore. Three doesn't make much of a party,† she protested feebly when she could get a word in. â€Å"I'm going to invite Sue Carson, too. Meredith gets along with her, doesn't she?† Bonnie had to admit Meredith did; everyone got along with Sue. But even so, Caroline had to understand that things couldn't be the way they had been before. You couldn't just substitute Sue Carson for Elena and say, There, everything is fixed now. But how do I explain that to Caroline? Bonnie thought. Suddenly she knew. â€Å"Let's invite Vickie Bennett,† she said. Caroline stared. â€Å"Vickie Bennett? You must be joking. Invite that bizarre little drip who undressed in front of half the school? After everything that happened?† Caroline stared. â€Å"Vickie Bennett? You must be joking. Invite that bizarre little drip who undressed in front of half the school? After everything that happened?† For a moment Caroline looked helplessly frustrated. Bonnie thrust her chin out, put her hands on her hips, and waited. Finally Caroline sighed. â€Å"All right; you win. I'll invite her. But you have to take care of getting Meredith to my house Saturday night. And Bonnie-make sure she doesn't have any idea what's going on. I really want this to be a surprise.† â€Å"Oh, it will be,† Bonnie said grimly. She was unprepared for the sudden light in Caroline's face or the impulsive warmth of Caroline's hug. â€Å"I'm so glad you're seeing things my way,† Caroline said. â€Å"And it'll be so good for us all to be together again.† She doesn't understand a thing, Bonnie realized, dazed, as Caroline walked off. What do I have to do to explain to her? Sock her? And then: Oh, God, now I have to tell Meredith. But by the end of the day she decided that maybe Meredith didn't need to be told. Caroline wanted Meredith surprised; well, maybe Bonnie should deliver Meredith surprised. That way at least Meredith wouldn't have to worry about it beforehand. Yes, Bonnie concluded, it was probably kindest to not tell Meredith anything. And who knows, she wrote in her journal Friday night. Maybe I'm being too hard on Caroline. Maybe she's really sorry about all the things she did to us, like trying to humiliate Elena in front of the whole town and trying to get Stefan put away for murder. Maybe Caroline's matured since then and learned to think about somebody besides herself. Maybe we'll actually have a good time at her party. And maybe aliens will kidnap me before tomorrow afternoon, she thought as she closed the diary. She could only hope. The diary was an inexpensive drugstore blank book, with a pattern of tiny flowers on the cover. She'd only started keeping it since Elena had died, but she'd already become slightly addicted to it. It was the one place she could say anything she wanted without people looking shocked and saying, â€Å"Bonnie McCullough!† or â€Å"Oh, Bonnie.† She was still thinking about Elena as she turned off the light and crawled under the covers. She was sitting on lush, manicured grass that spread as far as she could see in all directions. The sky was a flawless blue, the air was warm and scented. Birds were singing. â€Å"I'm so glad you could come,† Elena said. â€Å"Oh-yes,† said Bonnie. â€Å"Well, naturally, so am I. Of course.† She looked around again, then hastily back at Elena. â€Å"More tea?† There was a teacup in Bonnie's hand, thin and fragile as eggshell. â€Å"Oh-sure. Thanks.† Elena was wearing an eighteenth-century dress of gauzy white muslin, which clung to her, showing how slender she was. She poured the tea precisely, without spilling a drop. â€Å"Would you like a mouse?† â€Å"A what?† â€Å"I said, would you like a sandwich with your tea?† â€Å"Oh. A sandwich. Yeah. Great.† It was thinly sliced cucumber with mayonnaise on a dainty square of white bread. Without the crust. The whole scene was as sparkly and beautiful as a picture by Seurat. Warm Springs, that's where we are. The old picnic place, Bonnie thought. But surely we've got more important things to discuss than tea. â€Å"Who does your hair these days?† she asked. Elena never had been able to do it herself. â€Å"Do you like it?† Elena put a hand up to the silky, pale gold mass piled at the back of her neck. â€Å"It's perfect,† said Bonnie, sounding for all the world like her mother at a Daughters of the American Revolution dinner party. â€Å"Well, hair is important, you know,† Elena said. Her eyes glowed a deeper blue than the sky, lapis lazuli blue. Bonnie touched her own springy red curls self-consciously. â€Å"Of course, blood is important too,† Elena said. â€Å"Blood? Oh-yes, of course,† said Bonnie, flustered. She had no idea what Elena was talking about, and she felt as if she were walking on a tightrope over alligators. â€Å"Yes, blood's important, all right,† she agreed weakly. â€Å"Another sandwich?† â€Å"Thanks.† It was cheese and tomato. Elena selected one for herself and bit into it delicately. Bonnie watched her, feeling uneasiness grow by the minute inside her, and then- And then she saw the mud oozing out of the edges of the sandwich. â€Å"What-what's that?† Terror made her voice shrill. For the first time, the dream seemed like a dream, and she found that she couldn't move, could only gasp and stare. A thick glob of the brown stuff fell off Elena's sandwich onto the checkered tablecloth. It was mud, all right. â€Å"Elena†¦ Elena, what-â€Å" The air was no longer warm and scented; it was hot and sickly sweet with the odor of rotting garbage. There were black pits in the green grass, which wasn't manicured after all but wild and overgrown. This wasn't Warm Springs. She was in the old graveyard; how could she not have realized that? Only these graves were fresh. â€Å"Another mouse?† Elena said, and giggled obscenely. Bonnie looked down at the half-eaten sandwich she was holding and screamed. Dangling from one end was a ropy brown tail. She threw it as hard as she could against a headstone, where it hit with a wet slap. Then she stood, stomach heaving, scrubbing her fingers frantically against her jeans. â€Å"You can't leave yet. The company is just arriving.† Elena's face was changing; she had already lost her hair, and her skin was turning gray and leathery. Things were moving in the plate of sandwiches and the freshly dug pits. Bonnie didn't want to see any of them; she thought she would go mad if she did. â€Å"You're not Elena!† she screamed, and ran. The wind blew her hair into her eyes and she couldn't see. Her pursuer was behind her; she could feel it right behind her. Get to the bridge, she thought, and then she ran into something. â€Å"I've been waiting for you,† said the thing in Elena's dress, the gray skeletal thing with long, twisted teeth. â€Å"Listen to me, Bonnie.† It held her with terrible strength. â€Å"You're not Elena! You're not Elena!† â€Å"Listen to me, Bonnie!† It was Elena's voice, Elena's real voice, not obscenely amused nor thick and ugly, but urgent. It came from somewhere behind Bonnie and it swept through the dream like a fresh, cold wind. â€Å"Bonnie, listen quickly-â€Å" Things were melting. The bony hands on Bonnie's arms, the crawling graveyard, the rancid hot air. For a moment Elena's voice was clear, but it was broken up like a bad long-dis-tance connection. â€Å"†¦ He's twisting things, changing them. I'm not as strong as he is†¦Ã¢â‚¬  Bonnie missed some words. â€Å"†¦ but this is important. You have to find†¦ right now.† Her voice was fading. â€Å"Elena, I can't hear you! Elena!† â€Å"†¦ an easy spell, only two ingredients, the ones I told you already†¦Ã¢â‚¬  â€Å"Elena!† Bonnie was still shouting as she sat bolt upright in bed.

Free Essays on Exclusionary Rule

The Constitution of the United States was designed to protect citizens’ civil rights from infringement by the government and law enforcement agencies. The Constitution guarantees that the civil liberties of the people of this country shall be respected and upheld. That fact is often considered to be common knowledge and taken for granted by the vast majority of the population. However it was not always that way. American legislation is constantly growing and developing. New rules and practices are being developed and established. The exclusionary rule is considered to be the most vital to the protection of civil rights. The exclusionary rule is represented by the Fourth Amendment of the Constitution and it guarantees that illegally obtained evidence shall not be used against the accused. The history of the development of the exclusionary rule is one of the most fascinating examples of American legal evolution. The Fourth Amendment is believed to be one the cornerstones of the Constitution. It protects citizens from unreasonable searches and seizures, sets the framework for the warrant rule, and introduces the concept of probable cause into police procedures. The significance of the Fourth Amendment is difficult to overestimate. The warrant rule initiated a giant leap forward in the progress of democracy by abolishing the â€Å"general warrant† practice and restricting the invasion of privacy that citizens can be subjected to. The police can no longer engage into â€Å"fishing expeditions† against suspicious individuals and prosecute them based on the evidence obtained in direct violation of the Constitution. However, the exclusionary rule had a long history before it could adequately protect citizens. The rule met strong opposition from police officia ls and even some Supreme Court Justices before it became a valid legislation capable of providing adequate protection for citizens. Despite the overwhelming significance of the rights... Free Essays on Exclusionary Rule Free Essays on Exclusionary Rule The Constitution of the United States was designed to protect citizens’ civil rights from infringement by the government and law enforcement agencies. The Constitution guarantees that the civil liberties of the people of this country shall be respected and upheld. That fact is often considered to be common knowledge and taken for granted by the vast majority of the population. However it was not always that way. American legislation is constantly growing and developing. New rules and practices are being developed and established. The exclusionary rule is considered to be the most vital to the protection of civil rights. The exclusionary rule is represented by the Fourth Amendment of the Constitution and it guarantees that illegally obtained evidence shall not be used against the accused. The history of the development of the exclusionary rule is one of the most fascinating examples of American legal evolution. The Fourth Amendment is believed to be one the cornerstones of the Constitution. It protects citizens from unreasonable searches and seizures, sets the framework for the warrant rule, and introduces the concept of probable cause into police procedures. The significance of the Fourth Amendment is difficult to overestimate. The warrant rule initiated a giant leap forward in the progress of democracy by abolishing the â€Å"general warrant† practice and restricting the invasion of privacy that citizens can be subjected to. The police can no longer engage into â€Å"fishing expeditions† against suspicious individuals and prosecute them based on the evidence obtained in direct violation of the Constitution. However, the exclusionary rule had a long history before it could adequately protect citizens. The rule met strong opposition from police officia ls and even some Supreme Court Justices before it became a valid legislation capable of providing adequate protection for citizens. Despite the overwhelming significance of the rights...

California, Gurse Books, 1983 Essays - Eating Disorders, Free Essays

California, Gurse Books, 1983 Essays - Eating Disorders, Free Essays California, Gurse Books, 1983 The book I read was about the hard difficult task of overcoming this terrible eating disorder known as Bulimia. It is a secret addiction that dominates thoughts, severely undercuts self esteem, and threatens lives. Bulimia is a food obsession characterized by repeated overeating binges followed by purges of forced vomiting, prolonged fasting, and/or abusive laxatives, enemas and diuretics. A typical binge/purge cycle, who and why people become involved with bulimia, and the medical complications of bulimia, are all amazing factors that we should be able to recognize this deadly disease by, enabling us to suggest treatment. What is a typical binge? "Typical" depends entirely on the individual involved. The size and frequency can vary as well as the type of purge and the time between sessions. However, many bulimics follow the same pattern. They frequently start a binge while in the course of eating what is thought to be a "good" or "safe" meal or snack. They are very obsessive with what they eat; therefore, they usually find themselves feeling guilty about something they ate. This then leads to a craving of sweets and fried foods which leads them to believe they can eat anything they want, because after they purge, all the calories will be gone. In a typical binge, these sweets and fried foods are consumed in extremes. Bulimics always think it will be their last-ever binge. Following the binge-eating, bulimics will take the next step of purging, or vomiting up everything they had just taken in. Usually purging is postponed for about thirty minutes after drinking a large amount of water! . After the time passes, most proceed with self-induced vomiting, bringing everything up that is possible. Bulimics often have a feeling of weakness, dizziness, and headaches following this process. This is a fairly gruesome process, and many people wonder why and who would want to do this to themselves. Bulimia is generally considered to be a psychological and emotional disorder, but there are hypotheses that some bulimics are influenced by their heredity, or chemical imbalances in the body. The reason most people become bulimics is a complex mixture of childhood conflicts and culture pressures. Many bulimics find comfort and a way to release these pressures, take control and eat furiously for an hour, then turn back the clock by vomiting it all up. Our culture is obsessed with being thin to the extent of looking ill. Bulimic persons constantly compare their bodies-and lives in general- to those of other persons, and usually unfavorably, with further loss of self-esteem. The lives of bulimarexics are devoid of fun, humor, and genuine self-pleasure. A majority have lost sight of or, in some cases, never discovered the child within, that crazy, fun loving, exuberant part that permits us to reward ourselves for all we have accomplished. Bulimarexia can affect persons at ! any age, from the teens well into middle age. However, the majority of bulimics come from similar white, middle to upper-class backgrounds. Bulimics are often considered "ideal" children, are no longer among siblings, and do well in school. Bulimics also tend to be judgmental of themselves and others, have difficulty expressing emotions through language, fear criticism, and have an extremely low sense of self-esteem. They also tend to have a desire for perfection, a sense of loneliness and isolation, and an obsession of food as it relates to the body. Some of these persons feel that it is necessary to have two different personalities. One is the competent persons the outside world sees; and the other is the driven, out-of-control persons who will cheat, steal, or lie to satisfy her urge to binge. The medical complications of bulimia result from the hazards accompanying intentional malnutrition, binge eating, self-induced vomiting, cathartic drug abuse, and strenuous exercise. Excessive vomiting can cause death from cardiac arrest, kidney failure, impaired metabolism, or severe dehydration. Other serious side-effects include rotten teeth, digestive disorders, amenorrhea, malnourishment, anemia, infected glands, blisters on the throat, internal bleeding, hypoglycemia, icy hands and feet, and a ruptured stomach or esophagus. There are emotional side effects as well, including social isolation, fear, generalized anxiety, loneliness, and low-self esteem. These emotional problems are blanketed by obsessive thoughts about food, secret rituals, and gorge-purge

Jamestown Settlement essays

Jamestown Settlement essays I am writing to you to tell you that I have returned from my assignment in the New World. My adventures in the Virginia colony were interesting but I am glad to be back home in London. While in Virginia, I led the typical colonist lifestyle. At first I had a rough time adjusting to my new life in the colony but in the end, I enjoyed my visit to the New World. As you can imagine, I was quite surprised when I got my assignment from Boats R Us to travel to the New World. When I was notified that I would be traveling to the new English settlement, I was pretty scared but I eventually got over it. It didnt really set in that I was actually traveling to the New World until I was boarding the boat. The date was December 20, 1606 and the rest of the passengers and myself were waiting for the 3 ships to tell us when to start loading. We were all asking about how long the trip would last but nobody seemed to know the answer. Finally the boats told us they were ready so I boarded my boat, the Susan Constant. Many of the people I was talking to boarded the other two boats, Godspeed and Discovery. As I unpacked my things and got settled in I wondered if I would ever see London again. We arrived at our destination on May 24, 1607. At our first stop we were attacked by Indians, so we kept going up the bay. We decided to settle on the banks of the James River, which we named after our king at the time, King James 1. We obviously arent the smartest people in the world because we picked a place that was infested with mosquitoes and disease. Nevertheless we stayed at our chosen location and appropriately named it Jamestown. Many of the friends (and enemies) I had met on the ships died from disease and lack of proper food. Some even died before we reached Jamestown. One cause of the excessive deaths was that many of the colonists spent almost all of their time searching for gold instead of harvesting food...

HR Essay Example | Topics and Well Written Essays - 250 words

HR - Essay Example An employee starts learning different skills required to perform the job. Employee development is a future oriented process. The main purposes of employee development include improving quality of the employees, retaining key employees, and incorporating technological advances. â€Å"An employee in need of career guidance can speak to the HR director of his or her company† (Jeffress, n.d.). Some of the most effective learning theories that HR planners use to improve employee learning include reinforcement theory, social learning theory, and goal theory. Some of the learning styles used in the process of learning include divergers, assimilators, convergers, and accommodators. Employees learn through observation, experience, and interactions. In employee development process, HR planners help employees identify their needs and development goals in order to make them initiate the development process. Gordon (2006) states, â€Å"Employee development programs are essential to improve morale as well as to motivate the employees to perform well†. Some of the methods used in the employee development process include assessment, formal education, job experiences, and interpersonal relationships. Structured development plan are very useful for employee development. â€Å"Structured development plans encourage greater understanding of the job role† (Nathoo, 2011). â€Å"Employee development programs are essential because they help create workplaces that promote excellence† (Ganapati, 2005). Employee learning and development are those processes, which make employees productive, skilled, and competent enough to carry out their job responsibilities in accordance with the strategic directions of the company that ultimately leads the company towards the achievement of competitive advantage in the

Meeting Customer Needs Assignment Example | Topics and Well Written Essays - 1500 words

Meeting Customer Needs - Assignment Example To begin with, it is one among the top providers of the IP-based communication services. Secondly, they also provide the 4G LTE network. Thirdly, they are providers of the major wireless carriers within the United States and other neighbouring countries. Finally, the company further owns approximately thirty-four thousand Hot spots at popular joints, a notable example being in restaurants and hotels (Anon). A publication on Consumer Wireline Broadband Performance in the United States shows that, some internet providers did not deliver the speeds they had advertised. An example of the same is AT&T. Internet providers always use this strategy of promising more and giving less. This is always a way of outshining each other. From what AT&T had promised his clients it only delivered, a percentage slightly lower than 90. The report provided by Federal Communications Commission reveals that AT&T Corporation provide 87% of the advertised service packages (Commision, 2013). Currently, AT&T enjoys a wide range of customers, ranging from those using the AT&T high speed DSL internet, AT&T local phone service, AT&T long distance, wireless AT&T and the AT&T Digital Satellite TV. Customers can now be able to access VPN services. This is in order to secure communications with flexible private Networks providers. Also with through AT&T, several offices have been equipped with high-speed Ethernet network solutions, which can be implemented in different types of setups. AS from recent research, it has been found out that customer’s ideas play an important role in the development of new products. This is what is known as collaborative innovation (Anon). AT&T now for generations has provided quality services and products for their customer. The company’s mission now is to bring the world to the people. This vision is accomplished by the countless innovation that are seeded and delivered to the businesses and other customers in both

Group Roles as Evidenced in Mean Girls Movie Review

Group Roles as Evidenced in Mean Girls - Movie Review Example You have probably worked in groups that are effective and groups that are less or not effective. While there is no magic elixir upon knowing what moves groups forward and what limits their progress can be helpful whenever you are working in a group or team. In order for the group members of the team to have a harmonious relationship with each other they need to determine the strength and weakness of one other. To ascertain the strengths and weaknesses of each member of the group they need to identify the characters or roles of each member of the group. This will enable the group to help themselves adjust and cope with the each other and this will hasten to achieve the groups' desired goals harmoniously. There are certain and specific roles under a certain category that each member possesses during a group communication. Two theorists on group behavior were Kenneth Benne and Paul Sheats, who wrote an influential article titled "Functional Roles of Group Members" back in the 1940s. In it, they defined 26 different group roles that can be played by one or more people within a group. Their work influenced other early research and thinking on group functions. And whilst more recent research has refined many of these ideas. Benne and Sheats defined three categories of group roles: task roles, personal/social roles, and dysfunctional or individualistic roles. One of the films that portray a good representation of a group role ... Cady Heron's role in that group is the opinion giver because she expresses her own opinions and beliefs on a certain matter that her friends were initializing. Often states opinions in terms of what the group should do and should not do. This is because she grew up in a place where her parents taught her moral values. She is also the encourager she affirms supports and praises the efforts of fellow group members. Demonstrates warmth and provides a positive attitude towards her friends. In one of the films best lines after a telling off from Regina, Cady tries to comfort Karen wherein she told Karen that she is not stupid. She is also the harmonizer of the group she conciliates differences between individuals. Seeks ways to reduce tension and diffuse a situation. She is also an observer because she provides feedback to the group about how it is functioning. Another powerful character in that movie is Regina George. Although the high school students seemed to both adore and loath Regina George, her powerful position within the social organization at the school had many visible effects on her followers' behavior. Classmates copied Regina's style and vocabulary, and passed along Regina's gossip with vigor. In fact, the behavior of her closest friends was regulated by specific rules governing what to wear, who to date, and who to befriend. Their proximity to power was intoxicating despite Regina's mistreatment-so much so that when Gretchen was demoted to a lower position in the social hierarchy, "she knew it was better to be in the Plastics-hating life-than to not be in at all." Regina is the aggressor of the group she makes personal attacks using belittling and insulting comments, for example, "That's the most

Reading notes Essay Example | Topics and Well Written Essays - 250 words - 11

Reading notes - Essay Example The two examples are a clear indication of how sports can alter a man’s attitude. More so, sport affects significantly on their fantasy’s life. It is when they describe and imagine how they will do it in the real sense. A family has a significant role in defining American woman’s dreams and expectations. Men determine what women do in life (McBride & Parry, 2014). Taking the case of Willy and his Wife Linda, Linda must ensure that his husband’s cup is filled with coffee whenever he needs it. For this reason, instead of sitting down and enjoying her coffee, Linda must keep on checking whether Willy has coffee in his cup. In another context, Willy orders The Woman to leave immediately to the hall. Despite pleading that she is naked, Willy asks her to respect his order and leave without questioning. According to this play, men and women are treated differently. It is because; the society has defined certain roles for women and others for men (McBride & Parry, 2014). Therefore, women are to be submissive to men at all

Rohlinger Essay Example | Topics and Well Written Essays - 250 words

Rohlinger - Essay Example Rohlinger is a very interesting piece especially due to the sexualized men images that are used to portray the economic state and the way they are designed to appeal the liberated women.Unlike in men, there is much contention on the advertising using women’ erotic images arguing that the message sent is not good. Many people do not resist the use of men’ erotic images in advertising. I am still fascinated by the theory that liberated women mean strong independent women as indicated in the piece of work. The target audience is important in the setting of such an advert and I feel that the sales would not surge up if the audience targeted is in a relationship. I also noted with much interest the role played by ‘gender roles’ in making of advertisements. In setting a cologne advert it was important noting the way men are made vulnerable and so they get the importance of owning the cologne.However, from my own point of view, I do not think that the adverts made using the erotic images can really coerce me to buy something. Say an advert for a burger, even if made by a sexy lady, that does not mean that I will go and buy it. Ladies like dolls and manufacturers have taken that as a good platform to make great sales. This way you find that even as age advances the ladies still remain glued to their dolls and having the real attachment with them. The question that arises is whether the manufacturers really care more than the sales they make from the same.

Public Presentation Speech on Hofstra UNIVERSITY Baseball Essay

Public Presentation Speech on Hofstra UNIVERSITY Baseball - Essay Example The Hall of Fame was introduced in 1939 with Dale Petroskey as the president (Vaccaro, 73). This gesture by the university has been forceful in encouraging students to participate in sports. It seeks to appreciate the University’s alumni who did their best to take their respective sports at higher levels. The hall of fame includes students who have shown their prowess and alacrity in sports. Each year the University’s department of sports, though a high caliber panel selects candidates for this hall. This year Greg Polli who played baseball for the university in 1983 was selected for the hall of fame. The History of Hofstra baseball is one that is remembered with nostalgia that is drawn from the memories of the university’s pioneers of fame, pride and dominance. The Hafstra baseball course was initiated in 1938. According to (Vaccaro, 73) an online sports news desk, Brant Alyes who played in1959-1961 was the first baseball player from Hafstra University to make it to a major league level. Ken Singleton 1966-1966 is another baseball icon who made it to a major league. It is almost inevitable to mention the baseball players of Hafstra University who have gone professional in Hafstra baseball discourses. Greg Polli is a former All- American player who was also ranked third in the nation. Lance Schulters who played soccer for the university between 1996 and 1997 went professional. His professional soccer was at its prime when he was picked for the fourth time in 1998 by NFL in Francisco where he played for a decade (Vaccaro, 73). Finally it is commendable of the university to see the efforts put in all aspects of the university. Hafstra has become not only an academic giant but also a center of producing all round, disciplined and focused citizen of our republic with sports proving to be the best tool for its ambitious endeavors

Reading notes Essay Example | Topics and Well Written Essays - 250 words - 11

Reading notes - Essay Example The two examples are a clear indication of how sports can alter a man’s attitude. More so, sport affects significantly on their fantasy’s life. It is when they describe and imagine how they will do it in the real sense. A family has a significant role in defining American woman’s dreams and expectations. Men determine what women do in life (McBride & Parry, 2014). Taking the case of Willy and his Wife Linda, Linda must ensure that his husband’s cup is filled with coffee whenever he needs it. For this reason, instead of sitting down and enjoying her coffee, Linda must keep on checking whether Willy has coffee in his cup. In another context, Willy orders The Woman to leave immediately to the hall. Despite pleading that she is naked, Willy asks her to respect his order and leave without questioning. According to this play, men and women are treated differently. It is because; the society has defined certain roles for women and others for men (McBride & Parry, 2014). Therefore, women are to be submissive to men at all

Public Presentation Speech on Hofstra UNIVERSITY Baseball Essay

Public Presentation Speech on Hofstra UNIVERSITY Baseball - Essay Example The Hall of Fame was introduced in 1939 with Dale Petroskey as the president (Vaccaro, 73). This gesture by the university has been forceful in encouraging students to participate in sports. It seeks to appreciate the University’s alumni who did their best to take their respective sports at higher levels. The hall of fame includes students who have shown their prowess and alacrity in sports. Each year the University’s department of sports, though a high caliber panel selects candidates for this hall. This year Greg Polli who played baseball for the university in 1983 was selected for the hall of fame. The History of Hofstra baseball is one that is remembered with nostalgia that is drawn from the memories of the university’s pioneers of fame, pride and dominance. The Hafstra baseball course was initiated in 1938. According to (Vaccaro, 73) an online sports news desk, Brant Alyes who played in1959-1961 was the first baseball player from Hafstra University to make it to a major league level. Ken Singleton 1966-1966 is another baseball icon who made it to a major league. It is almost inevitable to mention the baseball players of Hafstra University who have gone professional in Hafstra baseball discourses. Greg Polli is a former All- American player who was also ranked third in the nation. Lance Schulters who played soccer for the university between 1996 and 1997 went professional. His professional soccer was at its prime when he was picked for the fourth time in 1998 by NFL in Francisco where he played for a decade (Vaccaro, 73). Finally it is commendable of the university to see the efforts put in all aspects of the university. Hafstra has become not only an academic giant but also a center of producing all round, disciplined and focused citizen of our republic with sports proving to be the best tool for its ambitious endeavors

Business Law Essay Example for Free

Business Law Essay â€Å"We have completed this assignment on our own and have not discussed it with any other individual or used any other unauthorized aids. We acknowledge compliance with the academic requirements (e.g. citation of sources) of the University of Toronto.† Legal Issue #1 Who should be responsible for the men with the broken wrist? Background: On the final night of the haunt, there were two young men who ignored the sign that said danger, upper balcony unsafe this is NOT part of the tour and went upstairs to use the bathroom. Due to that fact that the renovation was not done, thus, plumbing was not fully attached As a result, after they flushed the toilet, it turned out to have a huge water spill and caused one of them to fall and break the wrist. Legal issues: If the young man wants to sue whoever is responsible for this tragedy, he must claim that the occupier of that theatre was negligence; otherwise, he won’t get any compensation for the injury Special Negligence – occupier’s liability The occupier’s liability Act under [RSBC 1996] CHAPTER 337 states that someone considered being occupier if one of the following requirements is met: 1. Someone is in physical possession of the premises. 2. Someone is responsible for and has control over the condition of the premises. 3. Someone is responsible for and has control over the activities carried on at those premises. 4. Someone who has control over who is allowed to enter those premises. 5. Also, tenants and owners are both occupiers. In this situation, we have three different parties who consider being the occupier. 1. Leanne’s parents: As we know, Leanne’s parents are the legal owner of that theatre, consequently, they absolutely could be counted as one of the occupier, now, let’s examine if they were negligence at that time. (1) Duty of care: No matter what, as long as the invitees, licensees, trespassers are in the premises of the occupier; the duty of care automatically falls on the shoulder of the occupier. In this case, the question is: were Leanne’s parents careful enough to make sure the people in their premises were safe? Due to the fact that by the time the accident happened, her parents had already rent the whole theatre to Leanne by a proper contract, even though the renovation of that theatre wasn’t completed yet. Since the age of Leanne is not given, we could not tell if Leanne is over 18 or not. If Leanne is below the age of 18, According to the law, persons under the â€Å"age of majority†: 18 in Ontario (19 in B.C.) – at time contract made she would consider being a minor, and the law says that a minor usually cannot make a rational decision therefore treated as legal incapacity. In this case, the parents should be responsible for making their daughter the person who has control over the place. On the other hand, if Leanne is above 18, due to the fact that her parents have not warned about the possible hazards that the theatre could have to the visitors, they are still responsible for not fulfilling the duty of care. (2) Standard of care: As we know that the man with broken wrist was a trespasser who is not permitted before entering that premise (upstairs). The unfinished plumbing was not deliberately set up to harm any of the people at the theatre. Therefore, her parents have met the standard of care. (3) Physical causation: the unfinished plumbing was not the direct causation of that harm; nevertheless, it was the cause to make the water spilled and indirectly harm the young man. (4) Foreseeable harm: In this case, the harm is a bodily injury. Before this haunt, the theatre was in renovation, after Leanne proposed the haunted theatre plan; her parents accepted it and stopped the renovation instead. It is reasonable for her parents to notice that there should be some potential dangers in the theatre, however, they were just amazed by the idea and forgot about the foreseeable harms that could bring to the visitors. 3-step analysis: (1) Contributory negligence: Since there is a sign to warn the people that upstairs balcony is dangerous, even though they went to the bathroom instead of the balcony, they were still acting careless in a way that they ignored the sign. Plus, the reason for one of them to fall is because of the fact that they flushed the toilet with a unfinished plumbing, causing the water to spill, and made the floor wet, as a result, the man slipped and broke the wrist. Therefore, these two young man should share the liability for this accident. (2) Other defendant: Other defendants might be Leanne and also the contractor that is responsible for the renovation. (3) Vicarious liability: There is also no vicarious liability for this case. 2. Leanne: As a tenant who rent her parents theatre for one week, also the one that is responsible for and has control over the activities carried on at those premises, she is also consider being the occupier. For Leanne’s case, if she is below 18, then the contract between her and her parents are invalid, then she could not be sued. Otherwise she should be going through the following 4+3 negligence analysis as same as her parents. 4-Step Analysis: (1) Duty of care: As I have mentioned before, since the accident happened in haunted theatre was during the time Leanne rented from her parents, plus the activity on that night was under Leanne’s control, so that she automatically had the duty to make sure everyone is safe no matter the person is invitee, or trespasser. In fact, there were just so many visitors while there wasn’t enough staff to take care of the place, even though she had put a sign to warn the visitors not to go upstairs, but, there is still a possibility that somebody would ignore it and go ahead. On the other hand, the man’s wrist was broke right at the time when he fell, according to the relevant time says by the law, it again assures that the responsibilities would fall on Leanne. (2) Standard of care: As we know, after the contractor told Leanne about the plumbing problems she had set up a sign to warn the visitors to stop going forward. Normally if someone sees a sign tells them not to go forward, people would follow, however, during that evening the situation is slightly different. We know that it is a haunted theatre event during Halloween week; consequently the visitors on that evening are most likely to seek challenges and excitements. Therefore, it is reasonable for some risk loving people who would deliberately ignore the sign and go upstairs to seek for more fun. As the planner and the manager of the event, she should have studied the behavior of the potential customers in order to guarantee a better performance and strategies to control the whole activity. Nonetheless, the two young men were considered to be trespasser in this case due to the fact that the haunted event didn’t invite anyone to go upstairs. As a result, the duty owed to trespasser was extremely limited, according to the Common Law Status Approach, as long as the occupier of that particular premises didn’t mean to set up the hazard to trap the plaintiff, then, the standard of care will be satisfied by the occupier. (3) Physical causation: In this case, the wrist of the young man was broken in an indirect way. The plumbing of the toilet had some problems, after the young man flushed the toilet, it caused the water spilled out and the floor became wet. Finally, the young man slipped and broke his wrist. As we can see during the whole process, Leanne had done nothing directly or indirectly to cause the harm of the young man. However, it is the reckless conduct of the young man himself to cause the accident. (4) Foreseeable harm: As I have mentioned, before the haunted theatre, the theatre was in renovation. After Leanne proposed the idea of stopping the renovation for one week and opened the theatre for Halloween event, and the danger can clearly be foreseen. Even though the actual hazard didn’t harm the visitor directly, but it still created a dangerous situation for the two young men. 3-step analysis: (1) Contributory negligence: As I have analyzed in Leanne’s parents 3-step analysis, the plaintiff himself as a trespasser, ignored the sign to warn the dangerous situation of upstairs, and used the upstairs toilet which has a plumbing problem, as a result to make the water spilled on the ground and made the young man fell. Thereby, the young man had contributed to the accident, and should be sharing the responsibilities with whoever is negligence in this accident (2) Other defendants: Other than Leanne’s parents and Leanne herself, the contractor may also be responsible for this accident which I will be examined later. (3) Vicarious liability: There is no Vicarious liability in this case, since the actual harm brought to the young man was mainly caused by himself, therefore we couldn’t claimed that somebody hurt him while doing his/her job. 3. Contractor: The contractor is the one who is responsible for the renovation, naturally the condition of the whole theatre is somehow related to him and he should be responsible for that. As the occupier’s liability Act says that anyone that is responsible for and has control over the condition of the premises is considered as occupier. Due to the fact that the young man was hurt under the premises that was renovated by the contractor, he should consider being one of the potential defendant. 4-Step Analysis: (1) Duty of Care: As we know the contractor is one of the occupiers, therefore, he automatically has the duty to make sure the people are safe, no matter the people are invitees, licensees, or trespassers. (2) Standard of Care: As we know, before Leanne started her haunted theatre plan, the contractor had informed Leanne about the unfinished plumbing and the potential harm that could bring to the visitors. We could clearly tell that as an occupier, he did not try to harm the trespasser (Two young men) intentionally. Meanwhile, he actually tried to protect the visitors from being hurt. (3) Physical causation: As far as we know, even though the contractor is considered being an occupier, but, he didn’t have any control over the place at that particular day, moreover, he is not there by the time the accident happened. On the other hand, due to the fact that he didn’t finish the renovation and caused the plumbing problem and it lead to the water spill which ended up made the man fell down, this whole series of events are just too â€Å"remote†. In conclusion, there is not physical causation of this contractor to make the wounded man the way he is. (4) Foreseeable harm: As we concluded that the accident is just too â€Å"remote† from the contractor, therefore, there is no foreseeable harm caused by the contractor. 3-Step Analysis: (1) Contributory Negligence: As we have proven previously, the young man got into the premises where he was not invited to, thus, he considered being a trespasser. That is the reason for him to share the obligations of this accident. (2) Other defendants: There is no other defendant other than Leanne, Leanne’s parents, and the contractor. (3) Vicarious liability: There is no vicarious liability in this case. Legal Issue #2 Would two of her friends sue Leanne for breach of contract? Background: Leanne recruited two friends and offered them 20% of the net profit or a set amount of $500. Both of them indicated that they were sure 20% of the net profit would be work out to be more. After the operation of business, Leanne gave them each 20% of the net profit ($400) but those two friends asserted that the contract was for 20% of the net profit or $500 and they definitely would choose $500. Two of her friends would probably sue Leanne for breach of contract if Leanne paid them each only 20% of the net profit instead of $500. Let’s consider is there a contract between Leanne and two of her friends: Contract Requirements: â€Å"O+A+C+I† Offer: Leanne (offeror) offered verbally that she would give two of her friends (Offerees) 20% of the net profit or a set amount of $500. Acceptance: Two of her friends (Offeree) accepted offer by saying â€Å"20% would work out to be more† and also by conduct that they started to work next day. In addition, they did not change any terms in the offer so that no counter-offer had been made. Consideration: Leanne (Offeror) would pay money to two of her friends (Offerees) while the offerees would work for Leanne. There is no gratuitous promise between them. Intention: Leanne had a need to recruit the workforce while two of her friends were passionate to work for Leanne, both of the parties showed their serious intention Hence, there was a contract existed between Leanne and two of her friends. Two of Leanne’s friends were able to sue Leanne for brea ch of contract. This contract could be viewed as either a unilateral contract or a bilateral contract. Reasons for a unilateral contract Two of her friends (Offerees) could accept simply by doing what offer required. They needed to work for Leanne and in return they would get money reward. Issue – Did Offerees have the right to claim an option at any time? The key term â€Å"20% of the net profit or a set amount of $500† would be the main argument for both parties in the court. Two of Leanne’s friends would insist that they had the right to choose an option at any time because Leanne had not made a deadline. Undoubtedly, there are different understandings of meaning in regard to this specific contract term. Both parties agreed on contract wording but the term meant different to them. In the eyes of two of her friends, the contract offered them two options that they could choose after they acknowledge the exact amount of the 20% of the net profit. With no doubt that they would go for the option which had higher amount of money. From Leanne’s perspective, she offered them those two options before they started to work. Leanne believed two of her friends accepted the term†20% of the net profit† by the fact that they said that 20% would work out better. In this situation, the court would apply the most â€Å"reasonable† interpretation to the key term: It was unreasonable that two of Leanne’s friends had the right to choose after they realize which option would be higher. Leanne’s offer would be meaningless if two of her friends could do so. The intention of offering an option of 20% of the net profit was to motivate two of her friends. The most reasonable interpretation would be that two of her friends only had the right to choose an option before they started to work, as a step to accept the Leanne’s offer. Therefore, their wording â€Å"20% would work out to be more† would be considered as approving this term only and accepted Leanne’s offer. Reasons for a bilateral contract This was a bilateral contract because offerees needed to trade promises with the offeror. The offerees’ wording â€Å"20% of the net profit would work out to be more† was strong evidence that they accepted this specific term so that they gave this promise to offeror they would work and in return they would get 20% of the net profit. Issue – was there breach of contract? As a matter of fact Leanne gave two offers to two of her friends, one offer with the key term â€Å"a set amount of $500† and another offer with the key term â€Å"20% of the net sale†. As two of her friends chose the second option, they rejected the first offer and accepted the second offer. In this case, two of her friends would not be able to sue Leanne because there was no breach of contract and the court would surely favor Leanne because she did not violate any terms on the contract. As a result, two of Leanne’s friends would not succeed in the lawsuit. In the future, Leanne should be more careful when she makes the contract. She has to list all key terms in details and elaborate on all those terms so that the offoerees would not have a different understanding on those terms. Legal issue #3 – Would the film maker sue Leanne for breach of contract? Background: The independent film maker would like to film in the haunted house and asked Leanne for the offer. Leanne asked for $500 and told the film maker that he could film any night that he liked. The film maker said he needed time to consider the offer. Afterwards, the film maker got very upset when he came to the theatre on Nov 5 and consequently realized that the haunted house was not in operation anymore and the renovation had resumed. Let’s consider is there a contract between Leanne and the film maker: Contract Requirements: â€Å"O+A+C+I† Offer: Leanne (offeror) offered the film maker (Offeree) that he could film on any night he liked and the price would be $500 Acceptance: After Leanne had offered to the film maker, the film maker said he would have to think about it so there was no acceptance at this point. But later the film maker came to the theatre to film on Nov 5 could be considered as an acceptance by conduct. Consideration: Leanne (Offeror) would provide the film maker (Offerees) a place to film while the film maker would pay Leanne $500. Intention: The film maker had a strong desire to film and Leanne was willing to provide the place Hence, there might be a contract or no contract existed between Leanne and the film maker, depends on whether or not there was acceptance and when the offer lapsed. Issue – when the offer lapsed? There was no specific time in the offer that required the offeree to accept. Thus the court would consider a â€Å"reasonable time†. The â€Å"reasonable† time was usually 1 month. Nonetheless, this â€Å"reasonable† time was difficult to tell in this situation. Leanne would consider the offer goes expire after Halloween, because the operation of the haunted house was a seasonal event and it was reasonable to presume that there would be no more people coming after Halloween. Leanne would likely shut down the haunted house after Halloween. From the film maker’s view, the â€Å"reasonable† time would probably be one month because this was usually a standard. It was reasonable for him to believe that the haunted house would continue to operate because he did not know Leanne only ran this event for one week. Thus, the â€Å"reasonable† time was hard to assess. If the court considered the â€Å"reasonable† time was before Halloween, then Leanne would be free from any legal liabilities. If the court insisted the â€Å"reasonable† time was within one month, then Leanne would be sued for breach of contract since she could not fulfill her promise. Leanne had to revoke the contract immediately before she stopped operating the haunted house to avoid any legal duties.

Culture and the Turkish economy

Culture and the Turkish economy Introduction Peculiarities of running business and transnational communications are directly related to the culture of the country. Globalization of the economy has undoubtedly become a commonly accepted phenomenon. Even small and medium businesses, wanting or not, face problems of international business relationships: be it the purchase of equipment, materials or other trade and procurement activities, search for partners or investors, not to mention the direct competition with multinational companies in their own domestic market. Larger players of market, in connection with its inevitable saturation, are forced to think about entering the international arena. All these factors make the study of culture of business relationships and international communication increasingly relevant for managers. Awareness about the peculiarities of a particular culture, the ability to consider and use these peculiarities in practice help some companies quickly and at less cost to establish relations with partners, and others to deal more effectively with rivals. The knowledge of the features of international communication is also useful for managers working in foreign companies, since they help to better adapt to a foreign environment, understand the requirements of top-management, permissible frames of conduct and, accordingly, to move faster through the ranks. Major dimensions of culture in Turkey  and their influence on Turkish economy and business practices When building business relationships, finding partners for business, developing private business in the territory of another country, it is always necessary to take into account the totality of the rules of business etiquette and specificities of traditions of each cultural environment. Turkey has long been a secular state with European style of doing business, but it should be remembered that the influence of Islam, though not pronounced in recent times is reflected in some aspects of the Turkish business etiquette and bears a deep cultural meaning. Turkey combines European and Middle East traditions in the business culture, therefore common business etiquette here has some nuances which are useful to know for building successful and lasting business relationships. Lets consider these nuances. First, Turkey has a sufficiently well developed family-owned business with a clear hierarchy. Family traditions in Turkey are very important, both in life and in business (Burnaz, 2009). Second, different spheres of life in Turkey are influenced by religion. If the partners are religious people, one should keep in mind that Friday is a holy day for Muslims when they visit temple to pray, so no important business meetings and negotiations should be appointed on this day. Ramazan is a month-long sacred abstinence of all Muslims, during which one cannot eat, drink, smoke cigarettes from sunrise to sunset. This should be kept this in mind when planning a business lunch or dinner in a restaurant. During Ramazan it is better to appoint business meetings with Turkish Muslims after sunset, however, if it is possible to avoid them, it is better to postpone all negotiations until after Ramazan. Many Turkey residents leave on vacation in July or August, so the middle of summer is not the best time for negotiations and business meetings, while from October to May is the most active and fruitful period for Turkish business culture (Burnaz, 2009; OECD Economic Surveys: Turkey, 201 0). It should be remembered that as in any other country, courtesy and respect for etiquette in business in Turkey is especially important. Good personal relationships based on trust and mutual respect play a significant role in building business relationships with Turkish partners, therefore, before proceeding to business negotiations, it is necessary to show them openness and readiness for friendship and to emphasize the mutuality of benefits (Burnaz, 2009; Ararat, 2008, Gupta, 2009). Motivation in negotiating with the Turks should be clear and precise. It is very important in the process of business negotiations to clearly outline the advantages and profitability of a proposal for the Turkish side, although it is not the only thing a benefit may be expressed in for Turkish partners. Instead of profits it is recommended to focus often on such points of the transaction as increased authority and power. Respect, recognition and other intangible benefits may also have a positive impact on the outcome of business negotiations in Turkey (Gupta, 2009). Thus, understanding that Turkish culture is very different from European or American business culture is a big step in doing business in Turkey and with the Turks. It takes patience and time to learn all the ins and outs, but the Turks also show patience towards foreigners and willing to make allowances for any mistake or error in etiquette made by a foreigner. In general, Turkey is an attractive country to do business with the positive dynamics in the economy. Turkey managed to avoid large losses that might have occurred as a result of the global economic crisis of 2008-2009 (Turkey passes the crisis test, 2009). Having analyzed the economic development of Turkey for the period from 2002 to the present day, it can be argued that the state of the economy has become particularly favorable, due to the below factors (OECD Economic Surveys: Turkey, 2010; Turkey passes the crisis test, 2009; Turkey: Business environment at a glance, 2011; Aydin, 2006): The currency reform in Turkey, 2002; reforms in social security and health care; tax reform beneficial for entrepreneurs; TOKÄ ° Innovations (Housing Administration Projects) gave impetus to the development of national construction companies; State support for small and medium-sized enterprises, which constitute 97% of the Turkish economy; Increased economic growth in Turkey, which is largely due to the automobile industry, real estate and textile industry; Successful investments in tourism; Active development of the logistics sector in Europe; New international communications and new markets: the most promising emerging markets for Turkey are China, South Korea, India, BRIIC group, as well as markets of Pakistan and Bangladesh; Regional and social development: 40% of the EU budget is allocated to regional development and social infrastructure; Funding at the expense of TOBB (the Union of Chambers and Commodity Exchange of Turkey); Development of higher education: there are already 95 public and 45 private universities in Turkey. Apart from that, the Government of the Republic of Turkey considers foreign direct investment as the driving force of economic development and prosperity of the country. Turkey has one of the most liberal legal regimes for FDI among the member countries of the Organization for Economic Cooperation and Development (OECD). Except for some sectors, businesses that are open to the private sector in Turkey are mostly open to foreign partners and investors (OECD Economic Surveys: Turkey, 2010). Nevertheless, all investors, regardless of nationality, face a number of specific obstacles characteristic of developing Eastern countries: excessive bureaucracy, slow acting justice system, high taxes, corporate governance weaknesses, sometimes unpredictability of the decisions taken at local government level, as well as frequent changes in legislation and regulatory framework (Gupta, 2009). However, foreign investment regulation, for the most part, is transparent. Turkey supports national regime, including the purchase of real estate by foreign capital companies registered in accordance with Turkish law, and in most sectors no investment audit is provided (only notification is required). The Turkish Government supports the principle of transparency with the associated nation as a precondition for the acquisition of real estate by foreigners, and imposes a limit of 2.5 hectare of property acquired by foreign individuals. Individuals cannot own more than 10% of the land in any of the areas of industrial development (Kalafatoglu, 2010; Keyman, 2005;). The maximum share of foreign equity participation is limited to 25% in broadcasting and 49% in aviation and maritime transport. Establishment of companies offering financial services including banking and insurance, as well as oil-related companies, requires special permission from the Government of Turkey for both domestic and foreign investors. In practice, regulators do not restrict foreign ownership in the financial sector: in 2005 and 2006 a series of acquisitions by foreign persons were approved, and several foreign financial companies has been operating in Turkey for a long time (Ulusoy, 2009). The privatization process in Turkey is currently going on. The Government of the Republic of Turkey privatizes the state economic enterprises through selling lots of securities, public offerings, or a combination of both. The total amount of transactions in the Turkish privatization program amounted to 8.1 billion dollars in 2006, 4.3 billion dollars in 2007, and 6.3 billion dollars in 2008. The state continues privatization process, despite the fact that the reduction of global financial flows, which began in 2008, may entail certain obstacles (Ulusoy, 2009; OECD Economic Surveys: Turkey, 2010). Bureaucratic delays used to be significant obstacles to both national and foreign companies. However, recent reforms have simplified the process of establishment of companies, reduced the requirements to obtain permits, set a single form of registration of companies and enabled individuals to register their businesses in the Union of Chambers and Commodities Exchange of Turkey. Cross-cultural analysis: business cultures of USA and Turkey Generally, two polar opposite styles of management are distinguished, and consequently, business relation cultures: American or Western and Oriental styles. They are fundamentally different in structure of collection and exchange of information, separation and segregation of duties, degree of standardization, coordination and subordination. The American system is characterized by management based on science, individualism and personal responsibility, a clear division of labor, specialization, planning based on the analysis of large amounts of quantitative information. Oriental management system is based on collective responsibility, rotation system, long-term career planning, equation of employees to the company and its customs (Burnaz, 2009; Gupta, 2009). At the same time, in line with the Western style, there has recently distinguished a pan-European, also partly inherent to Turkey as an EU member, with a simultaneous focus on economic and social indicators, such as a guaranteed opportunity for staff development, involvement of employees in decision-making process, the emphasis on favorable climate in the company (Burnaz, 2009; Gupta, 2009). However, despite the tendency to unify business methods and communication standards, we believe that the explicit differences in business culture will remain in the future. Despite the huge variety of business cultures, there are methods to predict certain aspects of behavior of representative of a certain culture. Ones of the most applicable methods are the classification of countries according to G. Hofstedes four variative characteristics reflecting basic differences of cultural values, and contextual ranking of cultures, proposed by E. Hall (Cateora, 2000). According to these theories, the USA is a notable example of a country with a high index of individualism (IDV=91), when a separate individual poorly integrates itself into the group, and strong individualistic mentality is observed with a focus on the importance of personal life and initiative. The Turkish society is rather a society where the mentality of community relations dominates, so it is based on morality, sense of duty, predominance of the interests of the collective over the individual ones, and loyalty (IDV=37) (Table 1). Another important cultural dimension is the parameter of power (hierarchical) distance. Power distance index measures the tolerance of the society towards social inequality, i.e., unequal distribution of power between superior and subordinate members of the social system. The degree of distancing shows the relation of employees to the power of managers. Turkey has a culture with a high index of power distance (PDI=66), and power in Turkey may even be inherited. Here there is a significant difference between the members of the society who are at different social levels and difference in the privileges, which are perceived by the members of the society for granted. In countries with a low power distance index, like USA (PDI=40), the reverse pattern is observed (Table 1). The next quality largely determined by culture is the control of the level of uncertainty, which shows the extent to which members of a cultural community are programmed to freedom of action in unstructured non-standard situations. In this aspect, the USA and Turkey also hold totally different positions. As a country with high uncertainty avoidance index, Turkey (UAI=85) is less resistant to stress, more concerned with security issues and following the rules, which leads to poor perception of change and slow adaptation to new ideas. USA is characterized by culture with low UAI (UAI=46) associated with greater mobility, willingness to take risks, innovation, tendency to rely on knowledge, rather than absolute knowledge (Table 1). Moreover, the USA is rather a country described by Hofstede as the country with masculinity behavior (MAS=62), i.e. dominance, encouragement to competition, high demands, desire for career achievements and entrepreneurship, greed and passion for capital accumulation, lack of caring about others. In contrast, though attached now to the European community, Turkey still belongs to femininity pattern (MAS=45) and the prevailing values are humility and altruism, gender equality, emphasis on serving people, mutual aid (Table 1). Table 1. Indexing USA and Turkey depending on cultural values by Hofstede. Country IDV Ranking by IDV* PDI Ranking by PDI UAI Ranking by UAI MAS Ranking by MAS USA 91 1 40 38 46 43 62 15 Turkey 37 28 66 18/19 85 16/17 45 32/33 * Classification among 53 countries of the world, by 2000. (Cateora, 2000) In addition to the parameters identified by Hofstede, the predominant and characteristic of the culture type of communication is of great importance in the typology of business cultures. On this parameter, all nations can be ranked by the degree of cultural contextuality. Recent studies have revealed a high correlation between high/low-contextuality and the Hofstedes indices of individualism/collectivism, and hierarchical level of distancing (Cateora, 2000). Thus, low-context American culture shares relatively low hierarchical differences and high level of individualism. On the contrary, high-context Muslim culture is typically characterized by a significant difference between the hierarchical levels and low levels of individualism. Therefore, the majority of modern managers, employees of international companies, are more effective in countries with the low-context language, since they are relying on the reports, contracts and other acts documented in writing. But even in low-context cultures, communication is largely dependent on cultural differences (Cateora, 2000; Gupta, 2009). High-context cultures require a considerable period of time before starting the business part of the relationship, because future partners must get to know each other for joint business. For example, if one cannot find time and desire to drink coffee and talk about abstract topics, one cannot advance to the business part of the conversation (Cateora, 2000; Gupta, 2009). Another indicator is the source of power and level of authority, which is a direct consequence of the level of the hierarchical distance, as it combines the effect of the power structure in business with the status and position of manager in the community, depending on the size of the company, publicity, type of property, and cultural values. In Turkey, the decisions are mainly made exclusively by the head of the company, who prefers to deal only with senior executives of other companies. Business here is not between companies or divisions, but between individuals. The latter also means that in case of leadership changes from one side or another, the achieved agreements may lose their power, if trust relationships arent re-established between new top executives of companies. Besides, the decentralized system, common for the U.S., enables managers at various levels to make decisions relevant to their functions, which is not common for Turkey (Ararat, 2008; Gupta, 2009). Thus, the obvious conclusion is that it is necessary for the authoritarian cultures as well as companies with a decentralized power structure to correctly determine the decision-makers, while working with companies in which decisions are taken by consensus, it is important to convince each member of the committee or group. Peculiarities of conducting business in Turkey Business in Turkey is quite difficult to arrange. But the results of registration of the business in Turkey and certain investments can be easily recouped. Peculiarities of doing business in Turkey determine such things as sale and purchase, opening bank accounts, tax system, offshore, ready business, small business and profitability of big business. In general, 2011 will be very important for Turkey. In June, the general election will be held. The current government has been successful in many areas of the economy; although some serious problems still remain. Therefore, opposition political parties should form new political-economic strategies with respect to the above areas. Turkey has to achieve significant economic growth, reduce unemployment, ensure social justice, and resolve tax issues. If it is done succeeds, it will be able to join the BRIIC (Kalafatoglu, 2010; OECD Economic Surveys: Turkey, 2010). The Government of Turkey since 2001 has been implementing a comprehensive program designed to accelerate all the procedures related to investments and attract more direct foreign capital into the country. The national body, the Coordinating Council for the Improvement of the Investment Environment (YOIKK) provides methodological support in this issue. In addition, in 2004 the Investment Advisory Council for Turkey (IAC) was established, whose recommendations serve as a guide for YOIKK, and activities undertaken within the Councils recommendations are published in annual reports of the Treasury of Turkey on the activities of IAC (Keyman, 2005). The government continues to implement legislative reforms, some of which are aimed at attracting foreign investment to Turkey. The draft of National Legislative Network, a project of automation and integration completed the process of developing the technical infrastructure in 2008, designed to accelerate the execution of business cases by facilitating the transfer of documents and transcripts of court proceedings and give the opportunity to file an application online. In addition, the government simplified the access of foreign investors to justice, including legal advice and Alternative Dispute Resolution, supported by the U.S., EU and World Bank (Turkey: Business environment at a glance, 2011; Kalafatoglu, 2010). Turkey made the tax system more convenient for investors as well. In 2006 the basic rate of income tax was reduced from 30 to 20%. The government also cancelled the income tax for foreign investors who own bonds, notes and shares, preserving it for bank deposits and repurchase transactions. In 2007 tax administration established a division designed to manage taxes collection from large corporations (Keyman, 2005). However, the Government of Turkey has not yet managed to implement further tax reforms, including reducing the tax on wages, which is one of the highest among OECD members. The Turkish Government also increased the VAT on leasing transactions from 1 to 18% in 2007. Special consumption tax on alcoholic beverages in 2008 reached 275.6% with the minimum requirements for special tax based on market prices of products (Ulusoy, 2008). Turkish laws affecting the investment climate continues to develop. It guarantees freedom of transfer of profits, fees and royalties and repatriation of capital. This guarantee is reflected in the bilateral investment treaties between Turkey and the United States in 1986, and in some similar agreements, which regulate the unlimited and proper handling of all funds related to investment in a freely convertible currency in the self-regulating market (Treaties and Agreements, Turkey-United States, 1986). Turkey is a member of the International Centre for Settlement of Investment Disputes (ICSID). Turkey also ratified the Convention Establishing the Multilateral Investment Guarantee Agency (MIGA) in 1987. Turkish law provides the confirmation of international arbitration execution of investment disputes between foreign investors and the state. Turkeys is also a member of the WTO Agreement on Trade Related Investment Measures (TRIMS) (Keyman, 2005; Ulusoy, 2008). Turkey investment stimuli system was significantly improved in 2006 to support manufacturing industry, energy sector, and export. General regime of investment incentives suggests tax benefits and, in some cases, the possibility of lending. Turkish Treasury also regulates some issues regarding interest rates on investment loans for small and medium enterprises, RD projects, environmental protection, as well as projects in 50 provinces, where the annual income per capita is below 1500 U.S. dollars. For such provinces, the law provides income tax incentives, social insurance benefits, free land and reduced electricity cost up to 20-50% (Ulusoy, 2009; OECD Economic Surveys: Turkey, 2010). In RD sphere, Scientific and Technological Research Council of Turkey (TUBITAK) and Technology Development Foundation of Turkey (TTGV) deal with reimbursements for RD and capital borrowing. Projects that get such benefits include development concepts, technology research, technical feasibility evaluation, concept-to-design laboratory researches, samples study, test products production, experimental facilities construction, product testing, patent research and design problems solutions. In addition to these incentives, the Government of Turkey provides support for technological development zones, which involves the creation of infrastructure and production facilities, exemption from taxes, VAT, income taxes and revenues, and from customs duties for special IT-sector. Moreover, export stimulating program is focused on RD, market research, and participation in international exhibitions and fairs. In Turkey, no technical requirements for the beginning, implementation and expansion of investment projects are provided. There are also no restrictions to the acquisition by investors of goods from national sources and exporting specific percentage of products. Investors access to foreign currency does not affect exports. There are also no restrictions for domestic companies to own shares of foreign investors for the fact that the proportion of foreign shares will be gradually reduced or investor will transfer its technology on certain terms. There are also no conditions established by the state in terms of the permission to invest, including the location in specialized geographic areas, specific percentage of national resources for the production of goods and services, national shares packages, import substitution, export requirements, employment of the population the investor technically located in, technology transfer and financing from national sources (Ulusoy, 2008; Ulusoy, 200 9; OECD Economic Surveys: Turkey, 2010). The Government of the Republic of Turkey does not force investors to disclose proprietary information or any other kind of information different from the publicly available one during the process of obtaining permission from the supervisory authority. Companies with foreign capital are to send a report on their activities, submitted to the General Assembly of shareholders, the auditors report, and balance sheet in the Foreign Investment Department of the Treasury annually in May. Except for issues relating to openness to foreign investment and transparency of the system of regulation, Turkey provides all the rights, benefits, deductions and privileges available to national capital and companies, as well as foreign capital and companies on the basis of most favored nation regime (for selected countries). For example, American and other foreign firms can participate in publicly funded programs and programs of subsidizing research and development on the basis of national treatment. The Government of the Republic of Turkey has adopted policies and laws that, for the most part, should promote free competition and transparency in business. However, foreign companies in some sectors complain that the regulations are not transparent and understandable from time to time. One should keep in mind that Turkey is an observer, but not a member of World Trade Organisations Commission on Government Procurement. However, Turkey is an actively developing country, which tries to keep pace on all the contemporary European and American innovations. One of the most perspective areas in Turkey is internet and mobile commerce. For instance, recent researches show that mobile marketing has acquired great popularity with the development of technology SMS since 2000 in Europe and different parts of Asia. Over the past few years SMS-messages have become a major advertising channel in Turkey, and many experts even tend to view Turkey as an innovator in mobile marketing (Demirbag, 2008). The vivid example of this success is the experience of the Turkish branch of Pepsi, which in the last 3 years has been one of the most active players using mobile marketing tools. To date, according to the data of Pepsi Turkey, the level of participation in promotional campaigns conducted by the department is the highest in the category. The company uses mobile technologies, because it considers them more effective than TV tool to provide an opportunity for interactive communication with Turkish consumers. One of the campaigns introduced by Pepsi offered consumers wallpapers and ringtones, including the famous song Da Da Da. Over the course of a promotional campaign, users downloaded more than 200,000 ringtones (Tsalikis, 2009). Turkish companies (like Finansbank, BP, FritoLay) proved that simplicity and possibility of immediate gratification are of great importance for the Turkish consumer, and the mobile channel can provide this effect (Demirbag, 2008). In general, the trust of Turkish consumers continues to rise since February 2010, reaching 85.8. This is the highest level over the past 14 months (OECD Economic Surveys: Turkey, 2010). According to the report published by the Institute of Statistics of Turkey in 2010 jointly with the Central Bank of Turkey, the index of consumer confidence amounting to 85.8 points is the highest mark since February of 2009 when it amounted to 87.60% (Tsalikis, 2009). The index started to rise since November 2009, after reaching a record low value of 78.38 points. If the index exceeds 100, it means that consumers are optimistic, and if it equals to 100, it means that consumers are neither optimistic, nor pessimistic, but if the index is below 100, it indicates pessimistic consumers (Aydin, 2006). The report determines the growth of the index of consumer confidence through the increase of the purchasing power of consumers in the current and future period, the general state of the economy and employme nt opportunities in the coming quarter. Conclusion The research has shown that Turkey is characterized by the specific business culture, experiencing the influence of European Union, USA, and its Asian partners. Belonging rather to eastern patterns of business culture, Turkey differs much form the United States in the major cultural indicators, such as indices of power distance, individualism, uncertainty avoidance, and type of business behavior (masculinity vs. femininity). However, in recent years, Turkey demonstrates high indicators of economy growth, openness to reforms, laws adjustments and democratic investment policy, which makes Turkey a favorable business partner. In addition, Turkish policy and legislation on labor, health and safety do not impede investment, although legal restrictions on firing workers may create obstacles to labor-intensive activities in the formal economy. The specific tax policy sometimes hinders investment decisions, e.g. high taxation of beverages, similar to Coca-Cola, hinders investment in the sector. However, serious tax incentives for free trade zones provide incentives to invest in these zones. Similarly, incentives for investment in certain low-income provinces are designed to increase investments in these areas. Nowadays, international credit rating agencies insist that the investment level of the Turkish economy is still not high, but markets do not express much concern. Credit default swaps insuring Turkish securities against default for 5 years, are estimated at 1.84%. And while the Eurozone is struggling with budget deficits, Turkey states huge budget surplus due to the growth of tax revenues. Turkey is considered to be a country of investment grade in the market of credit default swaps after its dollar-denominated bonds started to exceed the bonds of developing countries in Europe largely due to accelerated economic growth. According to preliminary estimates of the Government, the economy of Turkey grew in first quarter by 12%, which allowed the Prime Minister of Turkey to claim that Turkeys credit rating wont be reduced in the coming 6-10 months. Generally, the country retains the trend towards improvement of economic performance, development and innovation, which opens new perspectives for foreign investment, collaboration and partnership.