To what extent can Grendon be considered a Maverick prison Essays

To what extent can Grendon be considered a Maverick prison Essays To what extent can Grendon be considered a Maverick prison Essay To what extent can Grendon be considered a Maverick prison Essay Ongoing debates surrounding the idea of prisons have highlighted how prisons arent working. HMP Grendon has become a landmark in British prison history as a prison that has sought alternative methods of treatment for the incapacitation of offenders. This paper will outline the methods used by Grendon in the prisons attempts to rehabilitate offenders and how those methods compare to those currently employed in regular prisons. It will finally be argued that Grendon, supported by a number of empirical findings, has taken the risks and gained the results that ensure the prisons status as a Maverick prison. HMP Grendon is a category B prison outside Aylesbury, Buckinghamshire. It opened in 1963, in a period of great social change which saw homosexuality legalised, the Open University founded, an equal pay act established, and the implementation of race relations legislation (Wilson, D. , 1994). In understanding the social context of the prisons beginnings we can start to understand the theoretical underpinnings of its core aspects. With new ways of understanding the old, Grendon brought a new way of understanding how to deal with offenders into the light. The prison is divided into six wings, five of which are relatively independent therapeutic communities with 40 or so residents in each, with a smaller assessment and preparation wing for 25. Most of the prisoners are in for crimes such as armed robbery, murder and a variety of sex offences. All have sentences of more than four years and all have volunteered to go there. Often many of the members have given up the option of parole to try to sort themselves out before being released. The therapeutic communities used by Grendon incorporate four main elements that contribute to the running of the establishment which are democracy and empowerment; the prisoners have rights of power over the administration and running of the prison; They also have responsibility; the prison encourages responsibility on an individual and collective level; Support; the system employed at the prison allows for the support of offenders from a variety of staff including psychiatrists, psychologists, probation staff, as well as those there to educate the prisoners; and finally confrontation; the prisoners are force to confront their crimes and the impact they have had on any victims and the prisoners are confronted if they should play down their crimes or if they attempt to harm others in the therapeutic community. Our current prison system is based on the idea that prison works and to varying extents the models of deterrence, prevention, retribution, and rehabilitation are heavily imbedde d in the idea of incarceration. The thinking behind the deterrent/ prevention model is that prison acts as a deterrent because of its unpleasant nature. Jeremy Bentham particularly advocated this view, that punishment should be sufficiently distasteful to the offender that the discomfort experienced would outweigh the pleasure to be deprived from criminal activity (Olsen, 1999:213). According to theorists such as Bentham such punishment can work on either a general or individual level in that both the general public who may be considering a crime are deterred as well as those who experience the prison system first-hand. By deterring crime through prisons it is hoped that it will be prevented. The retributive model of punishment states that those who offend deserve to suffer and that punishment institutions should inflict the punishment they deserve, which is justified for deliberate wrong doing. It favours the philosophy of an eye for an eye, a tooth for a tooth and is considered to be backward looking in that it focuses on the crime already committed by the person rather than the utilitarian focus on the future consequences of punishment seen in deterrence models. Rehabilitation aims not to punish the offender but to teach them how they can reintegrate into society to lead law abiding lives. It is hoped the prisoners problems can be identified and resolved- The objective of reform or rehabilitation is to reintegrate the offender into society after a period of punishment, and to design the content of the punishment so as to achieve this. (Hudson, B; Understanding Justice; 1996 p26) The effectiveness of rehabilitation in regular prisons has come under much scrutiny due largely to the overcrowding of the prisons At every level of the prison system, overcrowding is having an effect on the ability of prisons to deliver rehabilitative programmes. In spite of additional resources, the movement of prisoners and the gap between the number of prisoners and the spaces available are making it very difficult to provide sufficient positive activity for enough prisoners (Rehabilitation of Prisoners, first report of the Home Affairs Select Committee, 2004-05, November 2004). The amount of inmates in prisons clearly means that rehabilitation does not make up a significant part of the prison regime for prisoners. Over the years there has been much debate over which models are most effective of rehabilitation in prisons has been widely questioned; In 1974 Martinson questioned What works? and in his paper stated that our present strategies cannot overcome, or even appreciably reduce, the powerful tendencies of offenders to continue in criminal behavior (Martinson, 1974: 49), and so proclaimed the nothing works. Later however, in 1979 he stated that some treatment programs do have an appreciable effect on recidivism. (Martinson, 1979: 244) and that [s]uch startling results are found again and again in our study, for treatment programs as diverse as individual psychotherapy, group counselling, intensive supervision, and what we have called individual/help (aid, advice, counselling). (Martinson, 1979: 255). Although he did not advocate rehabilitation as a primary tool for the punishment of offenders, his view that nothing works moved to everything works a little bit and can be seen as an important time for the future of rehabilitation. The differences between HMP Grendon and other regular prisons first become apparent in the physical running of the prison. The unlocking of the prisoners at 7. 45am until 21. 00pm and the calling of the staff by their first names all symbolise a more relaxed atmosphere than that of regular prisons. All types of category B offenders are deliberately kept together and encouraged to socialise with each other which is a stark contrast to the running of standard prisons which tend to cultivate a kind of hierarchy with armed robbers and murderers at the top and sex offenders at the bottom. This hierarchy often causes numerous threats of abuse often ending in segregation. In encouraging all prisoners to take part in the system together and on an equal level there is no need for segregation. Those at Grendon have no privacy however and there are no secrets allowed within the prison which can often be difficult for the prisoners as the us and them ethos of their previous prison experience was often characterised by secrecy between the prisoners as well as between the prisoners and staff. One of the biggest distinctions that set Grendon apart from all other prisons in the UK is its democratic structure that aims to empower the prisoners in giving them a voice on matters of conduct within the establishment. Empowerment within the prison is considered important for the growth of each prisoner as an individual and each of the prisoners have a direct say in every aspect of how the prison is run. They are given the opportunity to work out for themselves what is right and wrong and have the right to vote other prisoners out of therapy should they break any of the three rules of therapy, which are; no drink; no drugs; and no violence. Those who are voted out of therapy are returned to their sending establishment. In giving the prisoners a chance to stop such behaviour, issues such as drug addiction, which is often fuelled or created, not stopped by being in prison, automatically becomes less of a problem than in other prisons. In being able to apply their own values to the world in which they are living they are given, it is hoped, a better feeling of self worth than what is given in regular prisons in that they are not told what to do, they are encouraged to decide for themselves what is right. It is hoped that the prisoners can then apply that idea to the outside world. At Grendon the barriers between staff and prisoners are broken down and very often members of staff become more like friends than prison staff and a kind of mutual respect is formed which encourages good behaviour amongst the prisoners. This is illustrated well in David Wilson and Stephen McCabes (2002) study which attempted to understand how Grendon works in the words of those undergoing therapy. One of the prisoners stated that They [the prison staff] gave me respect, and that made me have self respect. I started to see things for what they were, and when you feel good about yourself, you feel good about other people too. The distinction between regular prisons and Grendon becomes clear here; at Grendon democracy and respect go hand in hand whereas elsewhere in other prisons, neither exist. In England the prison population has risen dramatically and is at its highest ever recorded level. In February 2004 the prison population in England and Wales reached an all time record population of 74,594- an increase of 3. 6% over the year. Since 1995, over 15,200 additional prison place have been provided at a cost of more than    £2 billion and the UK has the highest imprisonment rate in the European union at 141 per 100,000 (Baker, N. , 2004). With the prison population growing so rapidly and prisons costing so much it is evident that the current solutions to crime are not working. Of particular concern is the fact that recidivism rates for those coming out of prison show that 45% of men re-offend within two years, 38% of women, 72% of young males and 51% of young females re-offend within two years of their release. (Prisons). This evidence unmistakably indicates that traditional punishment does not work. Research carried out by the Home Office has found strong links between time spent at Grendon and low rates of recidivism. There findings found that; Lower rates of reconviction were found for prisoners who went to Grendon than for prisoners selected for Grendon but who did not go; Time spent at Grendon was strongly related to reconviction reconviction rates were lower for prisoners who stayed for longer periods; Prisoners who stayed 18 months at Grendon exhibited reductions in reconviction rate of around one-fifth to one-quarter; Both mode of release from Grendon (i. e. transfer back to the prison system or release into the community) and length of stay at Grendon had an impact on reconviction rates, but of the two, length of stay seemed considerably more important (Marshall, P. , 1997). This work supported the results found by Cullen in his 1994 study that found that time in therapy at Grendon was significantly related to rates of reconviction with 18 months being a threshold for the greatest improvement, with those who left therapy before 18 months having reconviction rates twice that of those who completed 18 months or more. (Wilson and McCabe, 2002). Research findings such as these suggest a contrast in the success rate of Grendon and other prisons in terms of recidivism and indicate wholly that Grendons achievements have far outdone those of the prison system and Grendon appears to be working. As well as recidivism, the fact that those who go to Grendon (arguably) come out better people and can actively participate and contribute to society also must be taken into consideration. Whilst those who have served in regular prisons are constantly churned in and out of prisons having reproduced the same morals and values that got them there in the first place, Grendon is able to aid the prisoners in developing values and morals compatible with leading non criminal lifestyles. This means that not only does the prisoner not (it is hoped) commit crimes but he is also able to make a positive contribution to society. The major differences that can be seen between Grendon and regular prisons is of course the fact that they are a rehabilitative establishment rather than purely a punishment establishment. This has meant that the focus has been on teaching prisoners the effects of their crimes and to understand why and how they came to do the things that they have done and why they should not continue doing them. While regular prisons continue to make bad people worse Grendon has been able to work with the prisoners instead of against them and so allowing the prisoners to see how the process can be mutually beneficial to both the prisoners and the staff, as well as the outside world. The democratic nature of the way the prison is run empowers the prisons but at the same time, with democracy comes responsibility and being responsible for ones own actions is one of the first steps to being able to shrug off a criminal lifestyle. With Grendon being based on communalism the prisoners are able to learn how to become one of the working components that make up a community and this in turn enables the prisoner to feel that they have a worthwhile contribution to make to the outside world. Though criticism does exist about Grendon, particularly from prisoners in other establishments who see it as the soft option, it has in fact been found (Wilson and McCabe, 2002) that once the prisoners are there they find the methods employed by Grendon as tougher than any other bird they have had to do. Often, being forced to face the crimes that they have committed or having to face personal issues from their past can be much tougher than having to sit in a cell for 23 hours a day. HMP Grendon has undoubtedly shown itself to be standing apart from other prisons in the United Kingdom. In terms of its structure, what it aims to achieve and how those achievements are realised, it has contradicted the deterrence, prevention and retribution models that our current prison system is so heavily based on. It has shown that rehabilitation works and the rates of recidivism at Grendon, compared to those of regular prisons, reflect that.

Goodyear Tire and Rubber Company Research Paper Example | Topics and Well Written Essays - 750 words

Goodyear Tire and Rubber Company - Research Paper Example The challenge pushed the company, towards changing its market outlook, to adopt an approach where they targeted profitable customer segments (Mentzer, et al., 2001). The strategy has pushed the company to focus on the marketing and the sales of original equipment. Additionally, the company has had to adopt market-back innovation, which featured the rejuvenation of product lines like Wrangler and Eagle. There was also the challenge of improving its operational excellence across its supply chain – including the company’s 52 operational facilities located at 22 countries (Goodyear Tire and Rubber Company, 2012). The goal of the company has been the reduction of inventory at the different facilities as well as affiliated facilities, while at the same time improving the efficiency of business (Lavassani, Movahedi & Kumar, 2009). The supply chain needs to evolve in a number of areas, so that it can support its business. These include focusing their sales and production capaci ty to the service of the highly profitable customer segments, including the original equipment line. Secondly, the company needs to carry out market-back innovation continually, which will increase its efficiency through re-energizing its brands. Thirdly, the company will need to push its facilities and those of its suppliers to increase their operational excellence, through changes like the reduction of inventory (Goodyear Tire and Rubber Company, 2012). A larger proportion of the company’s success has come from its vertically integrated sales outlook and supply chain. For example, the company realized huge success through its vertical integration with Formula one and NASCAR. Their major success through the company’s vertical integration with these vehicle consumers and vehicle makers shows that the company should widen its vertical integration (Goodyear Tire and Rubber Company, 2012). The wider vertically integrated supply chain should cover other players like garage owners, car importers, car manufacturers, the suppliers of rubber materials and other commodity producers. 2. The competitive advantage of the company lies in the area of quality, primarily due to their reputation as the main suppliers of reputable racing companies like Formula one and NASCAR. The company’s reputation for quality products can also be traced to the Goodyear blimp, after the first Goodyear blimp flew in 1925 (Goodyear Tire and Rubber Company, 2012). The core operational competencies of the company include that its tires have been associated with sporting cars and events, to the levels that they have gained reputation for their performance capabilities. The second operational competency is the company’s business in 22 countries, where its brands are reputable (Goodyear Tire and Rubber Company, 2012). Thirdly, many of the company’s brands are globally reputable, which allows it to win against its competitors. The market risks facing the company inc lude that its market positioning has been tainted by its ranking, as the 19th-largest corporate contributor to air pollution in the US. This threat becomes worse, following the continued pressure of different corporate consumers to consume the products of green-operating companies (Simchi-Levi, Kaminsky & Simchi-levi, 2007). The second competitive threat facing the compan

Ethical concern related to low-wage workers Essay

Ethical concern related to low-wage workers - Essay Example First of all, in order to create a background for my essay, I would like to start with a definition of the term 'ethics'. This term is taken from the Greek, and the Greek word 'ethos' means 'character'. Nowadays, ethics can be defined as the set of rules for interpersonal communication, which takes place either on daily basis or at the level of big business. "Making ethical decisions in business is often difficult because business ethics is not simply an extension of an individual's personal ethics or a society's standards of right and wrong" (answers.com, 2005). Just being a righteous person, who fits ethical criteria, might not be enough to handle the problems, which occur in the workplace, such as the treatment of low-wage employees and their career development. It is important to note that many professions have already responded to the demanding business problems - in particular, with the creation of "codes of ethics, statements of corporate goals, sponsor training and educational programs in ethics" (ibid) , the installation of internal jurists who deal with various ethical improprieties, and with creation of special telephone hot lines, which allow employees report anonymously possible ethical violations. A code of ethics contains certain standards of behavior, which are obligatory for the representatives of a certain profession. Moreover, a code of ethics generally provides professionals with information about the obligations towards one another, their customers, employees and the whole society. "A code of ethics is generally developed by a professional society within a particular profession. The higher the degree of professionalism required of society members, the stronger and therefore more enforceable the code" (ibid). The main function of a code of ethics is to guide employees and employers in the most complicated ethical questions, in particular those which are especially unclear. Decisions in such cases can be made more effectively and easily if the code informs about what actions should or should not be taken and about the penalties for morally wrong behavior. Many companies have their own codes of practice, or codes of ethics, which correspond to the mission of the organization and the organizational culture. There are several ethical concerns associated with low-wage workers. The most widespread ethical dilemma, which arises in many organizations is 'utility vs. morality' (Bernstein, 1997). The ideas of utilitarianism, which penetrated the business, have been developed into the utilitarian approach to ethical concerns, which concentrates on "taking the action that will result in the greatest good for the greatest number of people" (poznaklav.com, 2005). For instance, employing low-wage workers, entrepreneur, who follows utilitarian principles, would attempt to determine whether using low-wage employees would bring prosperity to the company. For instance, those business owners, who use low-wage foreign employees in response to price competition, will probably benefit from such decision. On the other hand, using low-wage workers is likely to decrease the wages of the other employees, decreasing at the same time their standards of living and thus, reducing their ability to purchase the good s the company produces. Those company owners, who support the ideas of morality (Blank, 1997) would probably pay living wages to all employees regardless

Mergers And Acquisitions In Restructuring Business Organizations Finance Essay

Mergers And Acquisitions In Restructuring Business Organizations Finance Essay Mergers and Acquisitions have gained substantial importance in todays corporate world. This process is extensively used for restructuring the business organizations. Some well known financial organizations also took the necessary initiatives to restructure the corporate sector of India by adopting the mergers and acquisitions policies. The  Indian economic reform since 1991 has opened up a whole lot of challenges both in the domestic and international spheres. The increased competition in the global market has prompted the Indian companies to go for mergers and acquisitions as an important strategic choice. The trends of mergers and acquisitions in India have changed over the years. The immediate effects of the mergers and acquisitions have also been diverse across the various sectors of the Indian economy. The Indian Economy has been growing at the fast rate and emerging as the most promising economy in the world. Be it in IT, RD, pharmaceutical, infrastructure, energy, consumer retail, telecom, financial services, media, and hospitality etc, there has been a sign of promising boom in the Indian economy. It is the second fastest growing economy in the world with GDP touching 8.9 % in 2010. Investors, big companies, industrial houses view Indian market in a growing and proliferating phase, whereby returns on capital and the shareholder returns are high. Both the inbound and outbound mergers and acquisitions have increased dramatically. According to Investment bankers, Merger Acquisition (MA) deals in India will cross $100 billion this year, which is double last years level and quadruple of 2005. Indias merger and acquisitions deal value in year 2010 reached almost US $50 billion which is three times of the deal value last year 2009. There were MA deals worth about $16 billion in 2009, down from close to US $40 billion in 2008. Definitions: Mergers: Mergers or amalgamation is combination of two or more companies to form as a single new company. In this process no fresh investment is made, however an exchange of shares takes place between the entities. In simple terms, a merger involves the mutual decision of two companies to combine and become one entity. Generally, merger is done between the two entities having similar size. Varieties of Mergers   Mergers can be of various types. But there are 5 main mergers varieties which are valued most in the corporate world.   Horizontal merger   Two companies that are in direct competition and share  the same product lines and markets.   Vertical merger   Two companies which are in the Value Chain. Market-extension merger  Ã‚  Two companies having same product but different target market. Product-extension merger  Ã‚  Two companies selling different but related products in the same market.   Conglomeration   Two companies with unrelated business/ industry.   Acquisitions   Acquisition means buying the ownership of one company by another company, often as the part of the growth strategy. Unlike in merger, acquisition is generally done by a large company to a small one. Acquisitions can be either friendly or hostile. Like mergers, acquisitions are actions through which companies seek economies of scale, efficiencies and enhanced market visibility. Acquisition is done either in cash or acquiring the stock of the target company or both. Distinction between Mergers and Acquisitions   Mergers and Acquisitions are often uttered as one and the same and considered to have the same meaning. But the terms merger and acquisition are two different term meaning.   When one company takes over another independent company and clearly established itself as  the new owner, the purchase is called an acquisition. From a legal point of view, the  target company  ceases to exist and the buyer or the acquirer possesses the full control of the business and the buyers  stock continues to be traded, then it is acquisition.   Regardless of the type of the strategic alliance they all have one purpose in common. They are all meant to create synergy that makes the value of the combined companies greater than the sum of the two parts. Synergy Synergy  is the force that is obtained when two or more components meet together to produces an exceptional result which when done solely cannot be achieved. In a business synergy takes the form of enhanced performance, increased profitability and exceptional cost reduction. By merging, the companies hope to benefit from the following:   Staff reductions Economies of scale   Acquiring new technology Improved market reach and industry visibility Importance of the study When a company wants to expand, there are various ways its can do. They can achieve the growth either by capturing the market share or by growing through strategic alliances. The main objective of the merger or acquisition is to achieve growth and synergy, economies of scale and capture or expand the market share. Buzz of merger and acquisition often creates hype in the financial market about the acquirers stock price. While most empirical research on merger focus on daily stock return surrounding announcement date, a few studies also look at long term performance of term performance of acquiring firm after merger.  [1]  Not only that, the performance of the company as a whole is also a matter of question mark. Will the company be able to perform better than it is doing or not? Problem Statement Many firm prior to merger and acquisition have an expectation to create a synergy from merger and acquisition. The main motive behind MA is to create efficiencies in the business and expansion of the business. But they most of the time ignore the fact that the effect of merger and acquisition has direct correlation with the value of the acquirers company and the stock price. The other problem that is to be considered is the financial risk associated with the MA. Research Objective The objective of this study is to gain the deeper and clear knowledge of the merger and acquisition on the acquiring firm. It also aims at the financial risk that a company may face post merger/ acquisition asa well as the long term performance of the acquirer. The objectives are as follows: To examine the effect of EPS myopia on the return of acquiring firms in mergers. Evaluate the effect on the stock price of the acquiring company post merger and acquisition. Critically evaluating if the shareholders of the acquiring companies experience wealth effect as a result of MA. The expected long term performance of the acquiring firm. Study of the financial risk pertaining to the merger and acquisition. Research Question What is the motive behind Merger and Acquisition? What is the effect on the stock price of the acquirer pre and post MA? Does the buzz create the bubble effect on the market or is it long lasting? What is the wealth effect of the acquirer firm post and pre MA? What is the trend of MA in Indian market? Drivers of MA in India What are the effects of MA to the competitors? Effect of the tax to the government post merger and acquisition. Limitations of the Study No proper information on the companies is found except for their Balance Sheet and Income Statement. This study is based on secondary database, so errors in the data could affect the results of the study. External factors such as economic conditions, regulatory changes etc are not taken into consideration. An overview of the Study This dissertation is divided into five chapters. The first chapter deals with the background information, problem statement, objective of the study, importance of study, research question limitation of the study. The second chapter deals with literature review. This chapter indicates the theoretical framework of the valuation method of Merger and Acquisition. It shows the detail description of the past research that has been done on the topic and discusses the outcome of the study. The third chapter deals with the research methodology of the dissertation. It deals with the Research method used for the data and information collection. It includes sample selection/design procedure, data collection and data analysis tools used in the dissertation. In this part assumptions had been made where there is lack of appropriate data and information. The fourth chapter deals with analysis and interpretation of the financial data that are used to achieve the objectives of the dissertation. This section mainly deals with the findings from the study and also focuses on the analysis and its results. The fifth and the last chapter of this dissertation present the findings of the study, recommendation of the study to the investors, financial managers regulators. It also concludes the suggestions for future research. Chapter II Review of the Literature 2. Literature Review Many authors and writers have written lot about merger and acquisition and its impact on the performance of the company as well as on the economy. A great deal of research has been carried out on the performance of the corporations involved in the merger and acquisition. When a company wants to jump start a long term growth or boost up the corporate performance, MA may seem to be the best option. Yet study after study puts the success rate of MA lies just between 20% and 30%. A lot of researcher had tried to explain the abysmal statistics, usually by analyzing the attributes of the deals that worked and those that didnt. What is lacking is the robust theory that identifies the causes of those success and failures.  [2]   2.1 Merger and Acquisition: Conceptual Review Farlex Financial Dictionary  [3]  has defined A decision by two companies to combine all operations, officers, structure, and other functions of business. Mergers are meant to be mutually beneficial for the parties involved. In the case of two publicly-traded companies, a merger usually involves one company giving shareholders in the other its stock in exchange for surrendering the stock of the first company Pratap G. Subramanyam (2005) has stated merger as in the term associated with the integration of one company into another. The merging company should exist thereafter and all its assets and liabilities get legally vested in the merged company. This means that the merger means amalgamation of the assets of the two or more companies to form a new company serving the similar or different purpose. 2.1.1 Recognition of amalgamation (merger) by Indian Statutory Bodies The Company Act of India does not define an amalgamation or a merger. Therefore, the term are being interpreted as being included in the term arrangement as defined in Section 390(b). This is vindicated by the fact that Section 394 talks about arrangement that are in nature of amalgamation of two or more companies. It is possible under Companies Act for two or more companies to amalgamate using the shareholder approval route under Section 293(1)(a) though such route is never adopted. The more appropriate route is to get court order under Section 394 of the Act, which has been specifically enacted to enable amalgamations. Section 390 This section provides that The expression arrangement includes a reorganization of the share capital of the company by the consolidation of shares of different classes, or by the division of shares into shares of different classes, or by both these methods Section 394 This section contains the powers while sanctioning scheme of reconstruction or amalgamation. Under the Income Tax(IT) Act, 1961 Section 2(1B) the word amalgamation in relation to companies means the merger of one or more companies to another company or the merger of two or more companies to form one company so that: All the property of the amalgamating company or companies before the amalgamation becomes the property of amalgamating company by virtue of the amalgamation. All liabilities of the amalgamating company or companies immediately before the amalgamation become the liabilities of amalgamating company by the virtue of amalgamation. Accounting Standard AS-14 defines amalgamations as those pursuant to the provisions of the companies Act or any other statute, which may be applicable to the companies. Therefore, it applies to all transactions that come under the purview of Section 391-394 of the Companies Act that relate to integration of two or more companies. AS-14 categorizes amalgamation into two categories: (a) amalgamation in nature of merger (b) amalgamation in nature of purchase. An amalgamation fall into former category if: All assets and liabilities of transferor company become after amalgamation, the assets and liabilities of the transferee company. Shareholders holding not less than 90% of the face value of the equity share of transferor company (excluding the shares held by the transferee company), become the equity shareholder of the transferee company by virtue of the amalgamation. The consideration for the amalgamation, receivable by those equity shareholders of the transferor company who agree to become the equity shareholder in the transferee company, is discharged wholly by issue of shares (except for fractional shares that may be settled in cash). The business of the transferor company is intended to be carried on by the transferee company. Acquisition is the mechanism by which companies change hands and through transfer of ownership of share or transfer of control. Acquisition means the purchase of or getting access to significant stakes in a company, often making such acquirer a major shareholder or force in the company. According to Dictionary of Financial Term  [4]  If a company buys another company outright, or accumulates enough shares to take a controlling interest, the deal is described as an acquisition. For example, if Corporation A buys 51% or more of Corporation B, then Corporation B becomes a subsidiary of Corporation A, and the activity is called an acquisition. A single investor may buy out a publicly-traded company; one calls this going private. Acquisitions occur in exchange for cash, stock, or both. Acquisitions may be friendly or hostile; a friendly acquisition occurs when the board of directors supports the acquisition and a hostile acquisition occurs when it does not. 2.1.2 The Acquisition and Takeover Code in India After the advent of the SEBI, introduced in 1994, there was a concerted attempt at formulation of a comprehensive framework under which acquisition and takeover could be made in existing listed companies. However the takeover code does not apply to unlisted companies and continue to be regulated by the provision of the Company Act. Listed companies are currently governed by the provision of Takeover Code, clause 40A and 40B of the Listing Agreement of the stock exchange and Section 108B and 108D of the Companies Act as regards acquisition and takeovers. Under the provision of Section 108B, corporate under the same management holding whether singly or in aggrete.10% or more of the nominal value of the subscribed equity share capital of the any other company shall, before transferring one or more such shares, give to the central government an intimation of its proposal to do with the prescribed details. Section 108D provides the similar provision wherein the Central Government can act suo moto of any transfer of a block share in a company. All the Sections under 108 are backed by Section 108G. Section 108G Applicability of the provisions of sections 108A to 108F.-The provisions of sections 108A to 108F (both inclusive) shall apply to the acquisition or transfer of shares or share capital by or to, an individual firm, group, constituent of a group, body corporate or bodies corporate under the same management, who or which- (a) is, in case of acquisition of shares or share capital, the owner in relation to a dominant undertaking and there would be, as a result of such acquisition, any increase-   (i) in the production, supply, distribution or control of any goods that are produced, supplied, distributed or controlled in India or any substantial part thereof by that dominant undertaking, or   (ii) in the provision or control of any services that are rendered in India or any substantial part thereof by that dominant undertaking; or   (b) would be, as a result of such acquisition or transfer of shares or share capital, the owner of a dominant undertaking; or   (c) is, in case of transfer of shares or share capital, the owner in relation to a dominant undertaking. The SEBI Takeover Code brought in several new features into acquisition law which were not present in Clause 40A and 40B. The basic theme of the code is to provide for fair play and transparency in acquisition and takeover but at the same time to ensure that they are not stifled into extinction. 2.2 Differentiation of Merger and Acquisition In general Mergers and Acquisitions are used interchangeably, but they have a subtle differentiation in there meaning. Weston and Copeland (1992) distinguished merger and acquisition: merger as a transaction between more or less equal partners, while acquisitions are used to denote a transaction where a substantially bigger firm takes over a smaller firm. Their basis of distinguish was the size. But there are other factors apart from size that denotes the differences between merger and acquisition. Asquith Mullins (1986) define mergers and acquisitions on basis of share distribution. When two firms merge, shares of both are surrendered and new shares in name of the new firm will be issued. Unlike in merger, shares of the acquiring firm are not surrendered but traded in the market prior to the acquisition and continue to be traded by the public after the acquisition. The shares of the target firm cease to exist publicly. Motives behind Merger and Acquisition There are three major motives for the mergers and takeovers: Synergy, Agency, Hubris Synergy motive means that the sum total return/value from the integration of two or more companies should be greater than that from the individual company. Elazar Berkovitch (1993) suggests that the takeovers occur because of economic gains that results by merging the resources of the two firms. They even concluded that total gains from MA are always positive and thus can say that synergy appears. The agency motive suggests that takeovers occur because they enhance the acquirer managements welfare at the expense of acquirer shareholders. Elazar Berkovitch and M. P. Narayanan (1993) suggested three major motives for mergers and acquisitions: synergy, agency and hubris. The synergy motive suggests that the takeovers occur because of economic gains that results by merging the resources of the two firms. The agency motive suggests that takeovers occur because they enhance the acquirer managements welfare at the expense of acquirer shareholders. The hubris hypothesis suggests that managers make mistakes in evaluating target firms, and engaged in acquisitions even when there is no synergy. Khemani (1991) states that there are multiple reasons, motives, economic forces and institutional factors that can be taken together or in isolation, which influence corporate decisions to engage in MAs. It can be assumed that these reasons and motivations have enhanced corporate profitability as the ultimate, long-term objective. It seems reasonable to assume that, even if this is not always the case, the ultimate concern of corporate managers who make acquisitions, regardless of their motives at the outset, is increasing long-term profit. However, this is affected by so many other factors that it can become very difficult to make isolated statistical measurements of the effect of MAs on profit. The free cash flow theory developed by Jensen (1988) provides a good example of intermediate objectives that can lead to greater profitability in the long run. This theory assumes that corporate shareholders do not necessarily share the same objectives as the managers. The conflicts between these differing objectives may well intensify when corporations are profitable enough to generate free cash flow, i.e., profit that cannot be profitably re-invested in the corporations. Under these circumstances, the corporations may decide to make acquisitions in order to use these liquidities. It is therefore higher debt levels that induce managers to take new measures to increase the efficiency of corporate operations. According to Jensen, long-term profit comes from the re-organization and restructuring made necessary by takeovers.

Advocacy in Human Services Essay

Under the Rainbow Inc. began when a group of four socially conscious people discovered a dire need for quality, unbiased welfare support without prejudice or borders and became an ‘incorporated association’ in February 2007. Since its inception, Under the Rainbow Inc. has been committed to excellence in the delivery of social welfare services based on their principles of charity, care and compassion. A range of services designed to promote independence and to enhance quality of life are provided by Under the Rainbow, all of which encompass care and support of local community members, in particular those who require relief from poverty and/or the dependents of any such persons. Advocacy is the primary role of case managers’ who volunteer at Under The Rainbow and in this human service setting and any other it is essential for services to be provided accurately. This essay will define advocacy in a human services context as well as discuss the type of advocacy that is beneficial to clients in this chosen human service setting. In conclusion, this essay will also describe issues that Under The Rainbow have encountered whilst implementing advocacy and change and the way the current political climate can effect their ability to engage in advocacy and deliver quality human services. Whilst the definition of advocacy in general is broad, in human service and social work practice advocacy is essentially the process of protecting human rights or to change discriminatory or abusive treatment to the vulnerable, whether working with an individual or a group (Corey, Corey & Callanan, 1998). Human service workers all act as advocates in the course of their work (Sorensen and Black, 2001) and the Australian Association of Social Workers ‘Code of Ethics’ (2002) supports this view citing, ‘The social worker will advocate for changes in policy, service delivery and social conditions which enhance the opportunities for those most vulnerable in the community’ however Forbat and Atkinson (2005) argue that advocacy is ‘not social work, but its principles and values resonate closely’. Regardless of ones  definition, the ‘key concept’ in the notion of any type of advocacy, is that it requires at least three parties: the client, the advocate and ‘the other side’ (School of Health and Human Services, 2007). Literature suggests that the differing types of advocacy seem as broad as its definition and a number of different types of advocacy exist, however within Under the Rainbow’s human service framework they are predominately concerned with ‘individual’ or ‘case’ advocacy. According to Hepworth & Larsen (1993), case advocacy is a way to ‘obtain resources or services for clients that would not otherwise be provided’ and this theory underlies Under the Rainbows belief that to advocate for a client is ‘to bring about some form of personal and/or social change’ (School of Health and Human Services, 2007). Under the Rainbow is a voluntary community based organisation which now boasts a membership of sixty-five individuals, many of whom work with clients as advocates for change. The goal for each volunteer who manages cases for Under the Rainbow is to promote fair, equal, and humane treatment through fundraising, charity provision (food and clothing), welfare work and social action against injustice for the disadvantaged. Under the Rainbow’s social work practice is mainly concerned with implementing changes in the local community to assist in poverty relief to predominately ‘voluntary’ clients (Barker, 1991), though some are referred. While the majority of Under the Rainbows’ charity work is concerned with ‘lending a hand’ materially and financially, they also work one-on-one with clients to determine why they ‘needed a hand’ in the first place and therefore consider both aspects of their human service delivery forms of ‘advocating’. However there is some argument as to whether charity and advocating is in fact the same thing. The assertion by L’Hirondelle (2002) that charity work ‘simply means offering one-on-one help without effort to give people the opportunity to participate in working with others to change their situation’ is challenged at Under the Rainbow who believe ’empowerment’ of a client is both valuable and essential. Individuals who seek help from Under the Rainbow often see themselves as ‘powerless’ and unable to make changes in their lives and sadly, those who are discriminated against, are often the most vulnerable. Under the Rainbow clients can be distinguished by many inequalities involving social issues in areas such as power, authority, and wealth, working and living conditions, health, lifestyle, gender, education, religion, and culture. Because the nature of Under the Rainbow is predominately a charity, they realise some of the clients who ask for welfare assistance will not want to be involved in any further actions for changing their situation and staff may only be required to ‘advocate’ once. However, they know from experience there are just as many of their clients who will want to get involved and connect with others in order to work together for social and personal ’empowerment’. To clarify empowerment further, Shulman (2005) states that the empowerment process involves ‘engaging the client, family, group, or community in developing strengths to personally and politically cope’ and a number of ’empowerment’ workshops and programmes covering issues such as budgeting, self-esteem and parenting are implemented at Under the Rainbow to facilitate this. Clients also often need help when dealing with other agencies and a Justice of the Peace service and help with letter writing, telephone and electronic correspondence is also offered. Often clients feel they have been treated unfairly by other advocacy and law agency’s and challenging another organisation’s reasoning, on a clients behalf or as an individual can be referred to as ‘persuasion advocacy’ (Reardon, 2001). Many times writing a letter or involving law enforcement agencies to negotiate a point has been successful for Under the Rainbow and their clients to further instil ’empowerment’. Therefore, Under the Rainbow staff believe offering an individual help, whether through the distribution of groceries or an activity similar to the ones discussed above, is seen as empowerment for social change. Under the Rainbow ‘advocate’ for and ’empower’ their clients, bringing people together where they are then able to take action to change their situation. Schneider  & Lester (2001) include empowerment in their definition as part of the practice of advocacy and conclude that ‘this value is based on the belief that individuals have strengths to acquire knowledge, become assertive, and develop skills, and through social work advocacy, these strengths can be set in motion’. Vanessa, who has worked with Under the Rainbow for nine months states, ‘when I interview clients, I encourage and pay attention to the capable person I see in front of me. My focus as an advocate is never on their previous history, as there is nothing I can do personally to change it. The importance for me is what the client wants from life and how it can be achieved’ (Pers comm. 2/4/08). Whilst working as an advocate Vanessa does not expect nor require a client to self-disclose, however they usually do, which Vanessa defines as a relationship based on trust and mutual respect. Respecting the privacy rights and confidentiality of Under the Rainbow’s clients is extremely important and they believe that excellent ethical conduct must be practiced in order to be a credible community advocate. Cultural, language, disability and other accommodations are also provided for. If personal conflicts of interest should occur the advocate will step aside and ask for help from another party. As Under the Rainbow is are self-regulating, ethical decision-making and the process of critical reflection, evaluation and judgment ‘through which a practitioner resolves ethical issues, problems and dilemmas’ (Trevino, 1986) is extremely important in both a personal and professional context. As well as individual and personal advocating, dissolving barriers and building a sense of community on a local level, Under The Rainbow promote ‘global consciousness’ and pride themselves on their broad worldview and high awareness of the inter-relatedness and sacredness of all living things. All Under the Rainbow Inc. members are active, both personally and professionally, in many social arenas confronting a broad range of social and political issues. Advocacy of this type, which refers to a connection with social movements’, is known as ‘activist’ or ’cause’ advocacy (Healy, 2000) and often involves ‘active criticism of or engagement with government  policies and practices’ (School of Health and Human Services, 2007). Many members of Under the Rainbow have strong lobbying and media skills and some of their more prominent contributions and support include subscriptions and memberships to other advocacy groups and organisations such as New Internationalist Magazine, Bush Heritage Australia, Amnesty International and Greenpeace as well as Indigenous organisations, animal and environmental protection groups and interests in many other diverse global activist platforms. Under the Rainbow has also purchased and helped plant thousands of trees in South East Queensland through the Queensland Folk Federation at the Woodford Folk Festival site. Under the Rainbow is self-sufficient and as yet to receive any government funding. Relying on donations from its members and the general public to support their services is successful, but often unpredictable and can cause frustration when resources are limited. However, being an incorporated association means that Under the Rainbow is only accountable to themselves, their donors, members, clients and community. Not being affiliated with any government, church or social agency means they are not subject to any other types of accountability usually required under public auspice and this is preferable. Under the Rainbows projects, which are both broad and long-range, draw only on individual and group advocacy skills from its membership pool, preferring to remain exclusive and not out-source help from other agencies. In recent years, new set of ideas, such as advocacy, consumerism, empowerment, participation, and anti-discriminatory practices have all influenced social work practice and this has had an impact on social work values. This new set of ideas is referred to as ‘radical values’ (Adams et al, 2002) and are concerned with challenging oppression and discrimination, it is within this value system that Under the Rainbow continues to operate. Advocacy is essentially the process of standing up for the rights of others who are being unfairly treated (Sorenson and Black, 2001) and has the potential to bring significant and sustainable change for the better. It can  empower individuals and communities and generate many resources whilst bringing diverse organisations together to work on common issues. Effective advocacy takes specific skills, commitment, effort, resources, perseverance, wisdom and collaboration all of which are faced by the Under the Rainbow volunteers on a daily basis. The case managers at Under the Rainbow realise they need to successfully master the skills needed to be an advocate, which takes time and experience. They are also aware that learning to be persuasive and using resources available to them will increase their level of competence and better assure a positive outcome for both themselves and their clients. I am proud to be a member of Under the Rainbow and my involvement in the challenging albeit very rewarding endeavours to facilitate advocacy for change in this small but powerful association. REFERENCE LIST Adams, R., Dominelli, L., & Payne, M., (2002). Social Work, Themes, Issues and Critical Debates (2nd ed.), Palgrave, Basingstoke. Australian Association of Social Workers (2002), Code of Ethics, Retrieved April 2nd, 2008, AASW Website: http://www.aasw.asn.au/adobe/about/AASW_Code_of_EthicsCorey, G., Corey, M., & Callanan, P., (1998). Issues and Ethics in the Helping Professions, Brooks/Cole, USA. Forbat, L., & Atkinson, D., (2005). Advocacy in Practice: The Troubled Position of Advocates in Adult Services, British Journal of Social Work, 35:3, pp. 321-335Healy, K., (2000). Social Work Practices: Contemporary Perspectives on Change, Sage, London. Hepworth, D., & Larsen, J., (1993). Direct Social Work Practice: Theory andSkills (4th ed.) The Dorsey Press, Homewood, Illinois. Trevino, L.K., (1986). Ethical Decision making in Organizations: A Person-Situation Interactionist Model, The Academy of Management Review, Vol. 11, No. 3, pp. 601-617. L’Hirondelle, C., (2002), Characteristics of Remedial Work vs. Social Change, Retrieved April 4th 2008, Victorian Status of Women (SWAG) Website: http://pacificcoast.net/~swag/index.htmlReardon, K.K., (1991), Persuasion in Practice, Sage Publications, Newbury Park, California. Schneider, R.L., & Lester, L., (2001). ‘Advocacy: A New Definition’, Social Work Advocacy, Brooks/Cole Publishing, Pacific Grove: California. School of Health and Human Services, (2007). Study Guide: Advocacy and Change, Southern Cross University, Lismore. Shulman, L., (2005). Skills of Helping Individuals, Families, Groups and Communities, Wadsworth Publishing Company, USA. Sorenson, H., & Black, L., (2001). Advocacy and Ageing, Australasian Journal on Aging, Vol. 20.3, Supplement 2, pp. 27-34.

Effects of domestic violence domestic abuse on women and children Essay

42% of women and 20% of men sustained minor injuries such as scratches, bruises, broken bones or pregnancy complications (Cathy Meyer, 2016). The result of domestic abuse does have long-term physical effects including digestive problems, hypertension or skin disorders (www.liveabout.com 15/11/17). Family members, especially children, can experience the physical effects of abuse even though they have not been harmed or touched. They can complain about stomach aches, headaches and could experience irregular bowel movements and wet the bed. Many women who have been abused find it difficult to concentrate on their daily activates because of the effects of domestic abuse as they are constantly on edge. If a person is experiencing domestic abuse this can be physical as well as emotional and if the abuse is constant then regular hospital visits and rest days will be needed for a recovery if the person has a job day off will be needed and too many could lead to the person eventually being let off. When children experience domestic violence sometimes they feel confused or it’s their fault. If the violence or arguments takes place at night, it can be very distracting for the child to be able to sleep as they are constantly hearing the abuse given. This could affect their education as they will be tired and have poor concentration, affecting progress. Domestic abuse will have an effect on the victim’s emotional health as it makes them feel a range of emotions, such as anxiety, low self-esteem, suicidal thoughts or could cause a post-traumatic distress which includes unwanted flashbacks , nightmares or uncontrollable thoughts (www.joyfulheartcondition.org). Children who are exposed to domestic violence in their home could develop anxiety, fearing they might be left with the abusive parent who will then take their abuse out on them. Depression is also an emotion that most people will experience as they feel helpless and powerless. This is known to be more common in girls as boys tend to act out with aggression. Alisha Dixon, in the BBC Documentary â€Å"Don’t Hit My mum†, many children feel guilt that they could not prevent the abuse. Children may not want to leave the house in case their parent is unsafe. I found evidence to back this is on saying children will become clingy and not want to leave mum or dad and they feel they have a responsibility for to protect them. When in a domestic violent relationship, it is knowing that the partner will try to control the other person’s life by constantly knowing what they are doing and persuading or telling the victim they cannot go places when they really want to go. This will affect their relationship with family or friends causing the victim to never see them eventually leading them into isolation. Other social behavior includes aggressive behavior and poor social skills, meaning they could not make any friends as their social skills are poor. Bereavement A person dying close to you is hard both on adults and children. They can experience the same feelings as they are going through the same things however someone who is of an older age may be able to deal with the effects in a more mature manner, they will find that their energy levels will be very low as they will have a feeling f numbness inside them. If their energy is low, they will not go out and do daily activities which could lead them to stress and anxiety. Dealing with death and not everyone likes to be around people especially not in a work or school environment. This means that they will be missing out on important days in work or school causing them to fall behind building up more stress and anxiety that version does not need. When people describe losing a loved one they usually describe their self as being numb. Which is a normal defense mechanism of the mind to help you from being overwhelmed with emotions? Other people may experience guilt or anxiety

Video Games and Sociological Theory Essay - 600 Words

Video Games and Sociological Theory July 22, 2012 Video games have become as pervasive an aspect of our society as television, with many people spending more time playing video games than watching television. There are many perspectives with which to gauge videos games’ effect on society, from a functionalist, conflict or interactionist perspective. (Schaefer, 2011) Each of these sociological theories can provide a different view of video games, how they affect society and the subcultures that develop around them. The functionalist perspective would emphasize the way in which the parts of a society are structured to maintain its stability. (Schaefer, 2011) A functionalist may point out the manifest functions of video games as a†¦show more content†¦A more in-depth study may look at video games from a Marxist point of view, characterizing the games as a modern day â€Å"opiate of the masses† with multi-billion dollar corporations publishing the games to keep the proletariat occupied and oblivious to their plights. A feminist may cite the standard role of female video game characters as being the â€Å"damsel in distress† and even strong female characters usually being relegated to sex symbol status. An interactionist would study the effect of videos games on individuals, rather than on society as a whole. (Schaefer, 2011) Some things they may study would be any influence the games have on a behavior of a person. Another interactionist aspect would be the effect on families, where, like many things, video games can bring a family together or alienate members. Online multiplayer games now can also allow people to interact with other players from all over the world, being exposed to people and aspects of culture they may never have encountered otherwise. The interactionist may also look at gaming clans, and how the interaction of members affects daily life outside of video games. The sociological interpretations of video games are almost as numerous as the games themselves, and like many aspects of our society can be harmful or beneficial depending on how they are utilized by anShow MoreRelatedThe Effects Of Television Violence On Today s Society1518 Words   |  7 Pages Aside from video games, there is a multitude of media that today’s youth is exposed to every day. Such media includes social media websites such as Twitter and Instagram, movies, television, and news broadcasting programs. Television, however, plays arguably the largest role in influencing adolescents in today’s society. 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