Merger vs. Acquisition
The terms acquisition and merger are used like they were synonymous. However, these terms have a slight difference. A comparison of merger vs. acquisition shows the differences and similarities of these terms.
A purchase can be considered as an acquisition or merger depending on its hostility or friendliness as well as its announcement. Simply put, the difference between merger and acquisition depends on the way it is communicated as well as how the directors, shareholders and employees of the target company receive it.
A purchase is called an acquisition when a company takes over the other and establishes itself clearly as its new owner. From a point of view of legal experts, the target company stops existing once the takeover starts being effective. To them, the buyer is said to have swallowed the target business or company and the stock of the buyer continues being traded in the stock market.
On the other hand, a merger occurs when two companies, usually of a similar size come together and agree to move forward as one, new company instead of staying as separately operated and owned companies. This move is called a merger of equals in the world of business. The companies surrender their stocks and they issue a stock for the new company in their places.
However, mergers of equals in the real world are a rare occurrence. Usually, a company purchases another and the part of their deal is that the acquired company proclaims that the deal was a merger of equals. However, the move is a technical acquisition.
Companies do this because being bought usually has negative connotations. Therefore, calling the deal a merger is a technical way that top managers and deal makers use to make a takeover palatable.
It is important to note that a deal can be described as a merger if the CEOs of both companies agree to join the companies for their interest. However, when there is an unfriendly deal or when a target firm is not ready to be bought, this is usually called an acquisition.
Nevertheless, both merger and acquisition are aspects of corporate finance, strategic management and management that deal with combining, buying and selling different firms and similar entities as well. They can help a company to grow in its location, sector or in a new location or field without establishing subsidiaries or other entities.
Both acquisition and merger can be defined as forms of restructuring because they lead to recognition of an entity while providing positive value and growth. A sector or industry consolidation occurs when there are many acquisitions and mergers because resources of small firms are concentrated and used in establishing larger firms. Both acquisition and merger can lead to financial and economic consolidation of the involved entities.
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Effects of Long-Term Benzodiazepine Use
Benzodiazepine is a group of drugs (diazepam, nitrazepam, alprazolam, temazepam and oxazepam) used to treat restlessness in people who are hospitalized, anxiety, mania, alcohol withdrawal, sleeping problems, agitation and epileptic seizures or fists. There are different types of benzodiazepines including intermediate, long and short acting.
The medication which is widely used in neurology, psychiatry and other branches of medicine can be sniffed, taken by mouth and in some cases, intravenously. The drugs have also been used as induction agents in medical schools during anesthetic practice.
Medics always advice that just like any other drug, benzodiazepines should be used for short term since they are effective. Benzodiazepines also have side effects including short term and long term effects. Short term effects include anxiety disorders and this commonly affects anyone under the benzodiazepine treatment.
On long term use, the drugs can easily lead to dependence. Today, this is considered a risk. Taking the drugs intravenously is also a concern across different parts of the globe because cases of drug abuse have been reported. Even so, there are patients who do not suffer any side effects following the use of benzodiazepines. However,
- If you know someone who has been prescribed benzodiazepine
- If you have been prescribed with the drug or
- You are concerned with addiction or the withdrawal effects of the medication, it is essential that you understand the effects of benzodiazepine treatment over a long haul
This review will therefore take a look at the effects of benzodiazepine use
Effects of long term benzodiazepine use that you should know
Common effects of long term benzodiazepine use include unusual sleep behaviors and anterograde amnesia. These may occur especially if you are using traditional benzodiazepines and more specifically triazolam use.
Next day drowsiness also known as hangover effect is a common with the drugs when used for a long time. This is common with flurazepam and diazepam. The group of benzodiazepine has sedative effects that usually carry on to the next day. As a result, they can easily impair daily activities and driving. The effects are worse amongst the elderly.
Severe allergies including angioedema and anaphylaxis are also associated with long term use of benzodiazepine. They are rare effects of long term benzodiazepine use and usually disappear within a day or two
Long term use of the medication can also lead to addiction, tolerance, abuse or dependence. Benzodiazepines including alprazolam, lorazepam and triazolam are known as potent benzodiazepines and have shorter elimination half-lives. Therefore, they can cause dependence and tolerance following prolonged use.
Research also reveals withdrawal reactions as some of the effects associated with medications that are short acting. The effects are common if you suddenly stop medication after long term use.
Higher doses of benzodiazepine can also lead to rebound insomnia.
Similarly, research shows that benzodiazepine should not be used during pregnancy and while breastfeeding. The drugs can harm the baby.
Use of benzodiazepine by the elderly can lead to many side effects whether a patient is under short acting or long acting benzodiazepine. The drugs can lead to
- Over sedation based on age related factors
- Hip fractures and falls especially if a patient is under the treatment of long acting benzodiazepines
- Impaired blood pressure management and balance control. These have been closely linked to short and long acting drugs.
- Memory loss, mood swing and worsening sleep are also common effects of long term benzodiazepine use amongst the elderly.
- In other cases, coma and unconsciousness can occur. As a result, medics’ advice that elderly persons should use the drugs moderately and if possible, benzodiazepines should be avoided in persons above the age of 65.
Severe effects of long term benzodiazepine use
Long term use of benzodiazepine drugs can also lead to serious health issues including cardiac and respiratory arrest. These effects of long term benzodiazepine use are common if a patient is receiving intravenous (IV) benzodiazepines. Other reactions following the administration of IV medication include
- Nausea and vomiting
- Skin rash
- Double vision and blurred vision
- Injection site reactions
- Slow heart rate
- Respiratory depression and
- Cardiac arrhythmias
Other major effects of benzodiazepines include sleepiness, memory and concentration problems and unsteadiness
Drug abuse and addiction are also now considered possible risks and severe effects of benzodiazepine use. This is why medics advice patients to follow the doctor’s prescription and watch out for addiction signs when under treatment.
How can you tell that you are addicted to benzodiazepine?
Using benzodiazepines for a long time leads to addiction in around 4 in every 10 patients. This can lead to full blown tolerance especially with dose escalation to many times the recommended treatment levels. It is reported that patients under high doses of benzodiazepine treatment can be emotionally and physically dependent on the drugs and can easily suffer psychotic disorder and severe withdrawal if medication is dropped.
Therefore it is wise that you watch out for these signs to prevent addiction
- lack of sleep
- agitation and feeling tense
- if you feel bad after taking the drugs
- if you have to take more and more benzodiazepines to achieve a certain effect
- when you crave the drugs
- Sensitivity to light and blurred vision
Summary on the effects of long term benzodiazepine use
In general, effects benzodiazepine use can be reviewed under different categories including
Psychological effects- they affect behavioral, psychomotor and cognitive abilities of a patient. These effects include anxiety, sleepiness, depression, and episodes of amnesia as well as panic attacks. According to research, 17mg of diazepam or valium over a long time can lead to substantial cognitive impairment. Withdrawal following the use of the same drug for more than three months can also occur.
Physical effects– these include dizziness, vertigo, dysarthria and ataxia. In the elderly, lack of coordination is common and can easily lead to falls. Severe physical effects of benzodiazepine use including weight gain, impairment of sexual function, menstrual disorders and body rash.
Hip fracture is common amongst the elderly under benzodiazepine medication. In different research studies, zolpidem can increase the risk of falls and hip fracture by 2.55 times amongst patients aged 65 years and above.
Real side effects– long term use of benzodiazepines can also cause real life effects such as impairments when driving a car. According to epidemiological research, road traffic and domestic accidents have been widely reported following term use of the medication.
Overdose and dependence risk-overdose risk is also considered a long term effect of benzodiazepine use. This is specifically great when benzodiazepine is used with other drugs including opioids and alcohol. In this case, it is imperative to strictly adhere to a doctor’s prescription and advice.
It is therefore essential to note that driving while under benzodiazepine treatment is equal to driving under influence and more specifically, with blood alcohol level of 0.050 and 0.079 percent.
Withdrawal effects- these are effects that occur after giving up on the use of benzodiazepine after a long time. They are the most challenging effects of long term benzodiazepine use and they include twitching of muscles
- dizziness and tremors
- irritability and anxiety
- heightening of senses and altered perception
- poor concentration
- bizarre dreams, fatigue and sleeping problems
- paranoia, hallucinations and delusions
Expert advice on how to prevent effects of long term benzodiazepine use
As mentioned earlier, there are patients who do not suffer any side effects of long term benzodiazepine use. However, in such cases, one can easily get addicted to the drugs. As a result, it is essential to avoid long term effects of benzodiazepine use and addiction by
- following the doctor’s prescription and
- Ensure that the drugs are used with caution and in short term (less than four weeks). This prevents long term effects as well as addiction.
- Always have a natural alertness rhythm during the day and sleepiness at a night. Avoid going to bed until you feel sleepy.
- Have a good sleeping environment based on your needs. An ideal sleep environment should not be too hot, too cold, or too humid. It should be quite and dark
- Avoid anything that interferes with sleep when you are about to sleep. This includes nicotine, alcohol and caffeine.
- Avoid strenuous evening effects while under benzodiazepine medication
- In the event of anxiety, take time to resolve them before taking medication and before bedtime
- Exercise distraction and relaxation techniques and avoid daytime naps while under benzodiazepine drugs
- Note than despite the fact that benzodiazepines are known for their effectiveness, they should only be used for short term. They become less favorable and pose adverse effects when treatment is prolonged. What’s more, efficacy will always wane and risks become even more when you become addicted to the drugs.
- It is additionally important to note that patients with severe panic attacks, anxiety and insomnia disorders can be effectively treated with short term use of benzodiazepines. However, a medic should offer a comprehensive treatment strategy for full management of the panic, insomnia and anxiety and to prevent long term usage as well as related effects.
Using benzodiazepine with other drugs
The effects of using benzodiazepine with heroine, alcohol, opiates and other drugs are unpredictable and dangerous. There have been cases of breathing difficulties among many patients. Breathing difficulties increase the risk of overdependence and death.
Spanish Empire Decline
The reign of Spanish Empire was considered a growth of political power and a sign of prestige especially in the 16th century. However, during the 17th century, many writers and political experts considered it a period of Spanish empire decline because of a number of factors including:
Signing of a twelve year truce with the Dutch by Spain in 1609- This was a humiliating agreement for the Spanish as it acknowledged Dutch independence.
Spanish infantry also affected in 1643 leading to a major defeat for the Spanish as they were decimated at the battle of Rocroi, in Northern France by the French forces. This is an event that damaged the reputation of Spain and contributed to the decline of the empire.
Spain was also forced to recognize the sovereignty of the Dutch in 1648
In 1659, the Spanish had to cede territories of Roussillon and Cerdagne to France
The Franche-Comte in 1674 was also invaded by France and Spain had to officially recognize its loss in 1678.
There was also internal separatist Spanish in Aragon in 1648 and in Andalusia as well as a separatist rebellion in Naples between 1647 and 1648. These events played a role in the decline of Spanish empire and its reign.
In 1640, a major event that played a crucial role in the decline of the empire occurred. The Catalans in Portugal and Catalonia rebelled because they were tired of Castilians and demanded to fight the French. They also rebelled because they feared the loss of their local laws of fueros which their strong man, Castile had proposed in 1624.
Catalonia was therefore annexed by the French as Castile’s efforts to crush it failed. As a result, the Castilians and Castilian forces were fought allowing the Catalans to regain their independence in 1668. This was one of the major events during the Spanish reign as it marked the end of Castilian dominance over the Portuguese for the past 88 years.
Similarly, things overseas got worse and did not favor the Spanish empire. Spanish treasure fleets were constantly harassed by the Dutch and Spanish territories faced constant threats. In 1628, the Dutch captured an entire Spanish fleet as it prepared to cross the transatlantic. In 1656 and 1657, the English also laid a lot of waste to the fleet.
Additionally, trading posts in Brazil and Dutch forts in the country and in India and Indonesia threated Portuguese interests. This led to the decline of the empire as it forced the unity between Spanish and the Portuguese.
The other reason that contributed to the decline of the Spanish empire is that Spain lost its precious land overseas. The English seized Jamaica and as a result, Spain was forced to recognize English occupation of the Island between 1667 and 1670. Later on in 1697, France took over the Island of Hispaniola, today popularly known as Haiti and Dominican Republic.
Therefore, the 17th century marked the decline of the Spanish empire and Spanish hegemony. The trend continued through the 18th and 19th centuries as England and France planned for more imperial adventures. The empire disintegrated and by the end of the 17th century, Spain shifted powers to France.
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Mary I of England
Queen Mary I was born in 1516 to King Henry VIII and Catharine of Aragon. It is important to note that Mary was the only child who survived infancy in the marriage. She ruled as Queen of England from 1553 to 1558 when she died at the age of 42.
The early years of Mary I of England were mired with a range of challenges. Firstly, she was separated from her father following the divorce between King Henry VIII and Catharine. However, the separation would be seen as annulment of the marriage in modern days. Since the marriage was invalid, Mary I was deprived of some royal privileges as a claimant of the throne. This infuriated her, and got angry with her father for denouncing the Roman Catholic Church, which was against the King’s divorce. She believed that his father, King Henry VIII was responsible for her illegitimacy to the throne. According to Mary, if the King had obeyed the RCC, her right to inherit the throne would not be questioned by anyone. Holding this position, Mary cemented her loyalty to Rome. However, by the time her father died, she was second in lineage after Edward, her half-brother, who was sickly.
Queen Mary I rose to the throne in 1553 following the death of Edward. At this time, Protestantism had gained ground and proposed Lady Jane Grey, who was Mary’s cousin to take over the throne. However, Mary received public sympathy and took over the throne. She was inaugurated as Queen of England on November 30, 1553. With all the powers she had, Mary ordered the execution of Lady Jane Grey, her cousin to prevent her future attempts to oust her. This earned her the unofficial title “Bloody Mary”. Many people believed that Lady Jane would have live were it not for the interference of the Spanish diplomats.
As mentioned before, Mary I was not happy with alienation from Rome, which was instituted by his father, King Henry VIII, leading to the establishment of Protestantism in England. While on power, Mary tried to get back England to RCC. Bloody Mary had hundreds of Protestants executed, including leaders and bishops. First to be murdered was John Rodgers who published the “Matthews-Tyndale Bible”. Thomas Cranmer, the Archbishop of Canterbury was the second, before hundreds of others followed during Mary’s bloody terror reign. Roman Catholicism restoration by Mary I was remarkable. Most of the Protestant bishops were loyal during the reign of Elizabeth I, dying as they served house arrest terms.
Because of her inclination towards the Roman Catholic, Mary I introduced a raft of social reforms, which terribly backfired. Many people did not recognize her marriage to Phillip II of Spain, which took place in 1554. This marriage would not stand the test of time, since Mary could not give birth. She died of ovarian and uterine cancer. Following her age at 42, she was succeeded by Elizabeth I, her half-sister, who undid most of her failed social reforms. Among other things, Elizabeth I took England back to its Protestant state. Because of the turn of events in England, English refugees in Switzerland published the “Geneva Bible” before they returned home and printed the Protestant Geneva Bible.
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Globalization on Non Western Cultures
Effects of globalization on non western cultures can be seen in different spheres of human interactions. These include the political, economic, environmental, technological, and social spheres. Generally, globalization is sweeping different areas of the social life of the non western societies.
Non western cultures include the Chinese, Indian and African cultures which have been affected by globalization. Before globalization, Chinese, Indians and Africans had distinctive cultures. However, the globalized world presents difficult challenges and new opportunities for the non western cultures or societies.
Due to globalization, non western societies are feeling the forces of westernization, democratic ideologies and technology. For this reason, some of these societies see globalization as an invasion by the western countries.
Initially, some non western cultures marginalized some groups of the society. With globalization, such cultures are now facing a challenge with some of them being faced out of the contemporary society. Some of the belief systems and traditional cultures in the non western cultures are now seen as ancient and unfit for the contemporary society.
Cultural perceptions that some non western cultures perpetuated such as perceptions on domestic violence, psychological wellbeing and mental health have also changed dramatically with globalization. The ways of thinking and lives of the people who practice most non western cultures have also changed with globalization.
For instance, in the past the position of a woman in some non western cultures was in the kitchen. The woman was supposed to give birth, take care of the family and attend to domestic chores. This way of thinking and living has changed with globalization.
Today, women participate in economic and political activities alongside men. Women are also doing what such cultures reserved for men only. Thus, globalization has played a significant role in ensuring gender equality in some non western cultures.
Culture is not static and it is learned as one grows. Non western culture has been influenced by the western culture that is spread in different ways. For instance, the Chinese education system has been affected by globalization. New curriculums and courses have been introduced in the education system.
This implies that young people in China are no longer learning their indigenous culture. Instead, they are learning culture that has been influenced by the western culture. Other aspects of non western cultures that have been affected by globalization include language, symbols, religion, expressions, stories, songs and social celebrations.
Generally, the effects of globalization on non western culture are diverse and immense. Cultural behaviors of people have changed in different ways due to globalization. To fit in the contemporary world, globalization has forced people to change their ways of life in the non western cultures. Thus, new cultures have been shaped in non western societies by the forces of globalization.
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Expansionary Monetary Policy
Expansionary monetary policy is described as a policy that increases the supply of money in a country for purposes of encouraging economic growth or fighting inflation. A good example of this kind of policy is the fiscal policy which takes the structure of rebates, increase in regime spending and tax cuts.
Also, such policies originate from central banks known to focus on the increase of money supply within an economy. The policy injects capital into an economy directly and also manages low periods of growth in business cycles. Whenever the Federal Reserve of the US reduces its rate of federal discount rate or funds, it uses this policy. Additionally, it also uses the policy whenever it buys treasury bonds in an open market. Consequently, capital is injected directly.
There are several advantages associated with expansionary monetary policy. It is implemented for purposes of stimulating the economy whenever a cycle of business contraction is expected. It also addresses unemployment problems within the system. Some of the advantages associated with the policy are as highlighted below:
- It leads to bond prices increase and interest rates reduction
- It decreases exchange rates leading to increased exports as well as decreased imports and consequently leading to balance of trade.
- Domestic bonds are made unattractive by the low interest rates and this decreases their demand while raising the demand for foreign bonds.
- Low interest rates leads to a high capital investment level.
During recession, an expansionary monetary policy is known to spur economic growth. By injecting money into the economic system, the interest rates are lowered easing restrictions on credit that banks apply to application of loans. As such, consumers as well as businesses are able to borrow money easily and at the same time spend more.
As consumers spend more, businesses also benefit by enjoying increased profits and revenues. This makes it possible for companies to update equipment and plant updates, as well as hire some new employees. When this policy is applied, the rate of unemployment goes down as well since companies can borrow money easily to expand operations.
This policy can also lead to inflation in cases where the economy is robust therefore creating surplus money. Majority of people wrongly believe inflation is the result of high prices while in fact, it arises where there is much money chasing the available services and goods thereby making money lose value in relation to products purchased. As a result, the price rises because consumers are competing for the products available which are offered to those who state the highest prices.
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Floating Exchange Rate
Floating exchange rate is also known as fluctuating exchange rate and it refers to a kind of exchange rate system through which the currency value is given time to fluctuate in accordance to the market foreign exchange. A currency using floating currency is commonly referred to floating currency and it is contrasted with a currency that is fixed.
It is the decision made by a country to allow the value of its currency to change in a free manner. In such cases the Central Bank does not constrain the currency and it is not required to maintain relationship with other currencies. The value of the currency is determined by trade in foreign exchange market.
Most of the currencies in the world can be described as floating and they include some of the most traded currencies such as the Dollar, the Japanese Yen, the Euro, British pound as well as the Australian dollar. Initially, the Swiss franc was traded through a floating exchange rate but from 2011 September it was pegged to euro. Central Banks are often known to participate in markets for purposes of attempting to influencing floating exchange rate.
Canadian dollar in more than one way is similar to a “pure” floating currency as the Central Bank hasn’t interfered with the price of the dollar since 1998. The United States dollar comes in secondly and it has little changes in the foreign reserves. This is contrast to the United Kingdom and Japan currencies which need intervention to a great extent.
From 1946 to the start of the 70s, Bretton Woods system ensure fixed currencies were the norm and in 1971 United States made the decision to no longer uphold the exchange rate of the dollar at 1/35th an ounce of gold such that the country’s currency wasn’t fixed anymore. After the Smithsonian Agreement in 1973, most of the currencies across the globe made the decision to follow suit. However, other countries like most of the States in the Gulf fixed their countries currency to the value of other currencies and this has recently been linked to slow growth rates in those countries.
Whenever a currency floats targets different from the exchange rate is used for purposes of administering monetary policy. Some economists think in most cases, a floating exchange rate is far preferable to one that is fixed. Floating exchange rate adjusts automatically enabling countries to reduce impact of foreign business cycle, shocks as well as preempt the chances of a crisis of balance of payments. However, in certain cases, fixed exchange rates are preferable because they offer greater certainty and stability.
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5-Step Problem Solving Process
Life is a paradox of solving problems. Whether in business or politics, people confront varying challenges daily? Thus, there is need to have a straightforward way of solving such issues whenever they arise. A good approach in problem solving ensures that you identify the cause of the problem and if your preferred solutions are the best. When solving a problem, the solutions should have minimal negative solutions at all times.
Identify the problem: You cannot solve a problem that does not exist. As such, you should define the problem with clarity. For better understanding, it is paramount for you to look at the problem from different angles. For example, as the manager, visualize what you CEO, customers, and close associates would consider a problem. This will offer you a broad spectrum of solutions to the problem at hand. Another person’s perspective could be the best alternative in reaching an acceptable and realistic solution. At this level, it is necessary to look at causality. What is the root cause of the problem? By this, you will be able to define the problem with a lot of clarity.
Recognize issues: The second step of problem solving is indentifying the real issues surrounding the problem. Here, you get into the nitty-gritty of the problem by breaking the issues into subcomponents, which you can manage with a lot of ease. By breaking down a big issue into smaller components, you are able to identify its root cause with precision.
Generate and prioritize hypothesis: After identifying the issues to address, start thinking about how to solve them. It is unadvisable to start assigning solutions to each of the issues but rather identify various alternatives, which appear applicable and feasible. Such possible solutions transform into hypothesis, which the manager has to prioritize, do an analysis and carry out an evaluation process. After having the hypothesis, do no not disapprove every hypothesis. Instead, work with the ones that offer the best solutions, by weighing pros against cons. Divert your energies to most meaningful ideas and pursue them.
Analysis: This stage focuses on approving or disapproving your hypothesis outlined in step 3 of problem solving. At this stage, you determine the potential of every option to narrow down to the most likeable solution. It is worth noting that a great idea might not manifest at this stage but this does not mean that your alternatives are obsolete. Analysis the entire process will not guarantee you the best outcome. Of great significance is to conduct the right analysis for the process.
Advance your response: After a successful analysis, you need to convince the world that your recommendation works. To do this, change your hypothesis into recommendations that can be put into practice as part of problem solving. No one is interested in humongous analysis. Simply focus on proving your case using facts you may have gathered in previous stages of problem solving. Above all, the recommendations should appear in an appealing storyline to the audience. Where possible, help your audience to digest the analysis by defining the problem, explain the need to solve it and prove your approach.
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Commonwealth of Australia Constitution Act 1901
Definition of a constitution
A constitution is a set of laws that govern a country. Constitutions can be either written down or passed on as practiced norms. Written down constitutions are also referred to as codified constitutions while the unwritten constitutions are called uncodified constitutions.
Different countries have different constitutions depending on their laws and needs. While most countries have codified constitutions, there are a few that have unwritten or uncodified constitutions. There are also some countries that use both written and unwritten constitutions. Australia is one of the few countries that have both written and unwritten laws.
Background information on the Australian Constitution
The Australian constitution was negotiated during the 19th century. The British which had imperial powers over Australia during that time wanted a federal government. There was indeed mutual recognition for the need of cooperation between the British and Australians. While the Australian government had not defined this cooperation, British government expressly wanted a federal government. However, this was opposed by the locals because there was a general feeling that the bigger states such as New South Wales and Victoria would dominate the other smaller states.
In addition to this, the American Civil War had occurred during this era and federalism was viewed with great skepticism. Nevertheless, during the 1880s, the British noticed a huge presence of Germans and French in the pacific parts of Australia. This put a lot of pressure on the British and expedited their decision to cooperate with Australia.
In 1889, British finally established the Federal Council of Australasia which was a body that could facilitate inter-colonial cooperation. Even though this body could legislate over many matters, it neither had a permanent secretariat nor source of income. Australia and Britain begun strong negotiations over this matter and this was mainly done through conferences.
Eventually in 1891, the two parties decided to come up with a draft constitution that would legitimize federal governance. This draft constitution was passed through a referendum as the parties felt the idea would be made more popular if passed through majority vote. By the end of 1891, the draft constitution was tabled to the leaders of the colonial states.
Between 1895 and 1898, the parties held many meetings over the draft constitution. During this period there were amendments to this document and finally, another electoral decision was carried out. The western part of Australia did not engage in this exercise. In 1900, the Commonwealth of Australia Constitution act was passed into law. This later came into force in 1901. Ultimately, the Western part of Australia accepted to become part of the constitutional process and federal governance was established in the whole of Australia.
The current Australian Constitution
Australia in the recent times has made amendments to the constitution. One major amendment that was made in 1986 was the removal of the clause that gave Britain the mandate to change the constitution of Australia. The changes to the constitution can thus solely be carried out by the government and people of Australia.
Socio Cultural Factors Affecting Business
Socio cultural factors have important influences in businesses today. These factors are about the attitudes and beliefs of consumers based on their preferences, environment, and social systems. Entrepreneurs must learn to closely monitor these socio cultural factors because they have a major impact on consumption of services and products. The following are some of the main socio cultural factors that affect businesses today:
Customs and religion
Some products may not be permissible in certain cultures. This may be because of religious beliefs and traditions that have been imbedded in a community’s culture for a long time. For instance in India consumption of beef and beef products is forbidden due to strong religious beliefs. Companies such as Macdonald’s have had to alter their menus and consider this socio cultural aspect when venturing into India.
The world is always evolving and trends in different businesses always change. This can be as a result of new trends, changes in technology and mindset. Ultimately changes in consumer’s tastes have an impact on businesses. If businesses do not keep up with and incorporate these changing preferences into their services, they risk losing important clients.
The communication and technology market is one of the ever changing businesses. Companies like Nokia have had to change some of their products to march trending applications and designs. Although such changes in preferences may cost a company a lot of money, it helps in retention of clients and can also attract new ones.
Demographics are all about the population and this influences businesses in the sense that it determines the market size and profits that companies make. A huge population provides a larger market for companies that want to venture into certain locations or countries.
In the recent past, countries like India and China have been popular destinations for investors. This is because they have billions of citizens who provide consumers for different products and services.
Marketing and advertisement
Marketing and advertisement is one of the essential aspects of every business. This is the only way a business can reach out to its clients. It is thus important for entrepreneurs to put a lot of effort into impressing the clients through advertisements.
Most companies prefer to have a healthy budget for advertisement and spend a lot of money to hire brand ambassadors who can come up with perfect advertisement ideas. Advertisement must be customized to suit the client age, preference and meet the company’s targets.
Moral and personal values
Many businesses have to make sure that their products are aligned to the moral and personal values of their clients. This may require setting high standards for employees and ensuring that those who manufacture products are well taken care of. A company like Mary Kay cosmetics has gotten good client reviews because of how staffs are treated. On the other hand some American companies have irked their clients by using child labour in their foreign franchises. Exercising moral values that appeal to the clients can help in retention of customers.
United States Bankruptcy Code Chapter 11
United States bankruptcy code chapter 11generally provides for reorganization for partnership or corporation. As provided for by this chapter, a debtor proposes a strategy or plan for the reorganization to keep business alive as well as pay creditors with time. Individuals and businesses undergoing financial crisis seek relief in chapter 11.
In case a business can no longer service debtors or even pay creditors, the business itself or creditors may file for bankruptcy with the federal court. This is provided for in the Chapter 11 and Chapter 7. In most cases, Chapter 11 allows debtors to maintain control of the operations of the business as the debtors in the possession. However, the business is subjected to court’s jurisdiction and oversight.
The United States bankruptcy code chapter 11retains most features that are present in most or all bankruptcy proceedings. It also provides additional tools that debtors can use as well. The most important aspect of this chapter is that it empowers trustees so that they can operate business of the debtors. According to this chapter, unless a trustee is selected or appointed for the cause, debtor acts as the business trustee as a debtor in the possession.
The debtor in the possession is afforded several mechanisms that they can use in restructuring the business. For instance, the debtor may acquire loans or financing on terms that are favorable to them by offering first priority of the earnings of the business to new lenders.
The court can also allow debtor in the possession to cancer or reject contracts. This chapter also protects debtors from litigation against their business via automatic stay imposition. As long as the automatic stay remains in place, the creditors are not allowed to make collection attempts. They are also deterred from engaging in activities that are against debtor in the possession. Majority of the litigations that are against the business debtor are stayed or simply kept on hold till the bankruptcy case is resolved in court or original revenue of the business is resumed.
A business is considered insolvent when it has debts that exceed assets and at the same time the business cannot debts. Bankruptcy restructuring can result in a situation where the owners of the company will lose everything. Ownership of the company after reorganization is left with the creditors. Owners of the company lose interests and rights to the creditors of the company. The court determines whether the reorganization plan being proposed abides by bankruptcy law as provided for by the United States bankruptcy code chapter 11.
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There are several advantages and disadvantages of pesticide use by farmers. Pesticides are chemicals that kill pests. To most farmers, pesticide use is an unavoidable aspect of farming or gardening. This is because pesticides help in keeping the plants free from pest infestation. Pests are harmful insects whose effects on the crop can be devastating if they are not controlled.
Pesticides help farmers in preventing crop damage by these harmful insects. Although pesticides are important to farmers, using them can pose a risk to the farmer, his family and animals. However, when used properly pesticides may not have significant side effect on humans and animals. Nevertheless, it is important to consider the advantages and disadvantages of pesticide use before a farmer start using them.
One of the major advantages of pesticide use is that they kill pests faster than other pest control methods. This is because pesticides are specifically formulated chemicals that target certain pests. Once administered in a crop that has been invaded by the pest, pesticides start working immediately by affecting the normal biological functions of the organs of the insect.
Pesticides are also easy to use. With most pesticides, a farmer is just required to mix the pesticide with a specified amount of water and then spray the crop. There are powder pesticides that a farmer applies to the crop that is infested with pests directly. Thus, it takes a few minutes or hours to apply the pesticide and control the pest.
There is also a wide range of pesticides from which a farmer or gardener can choose from. This implies that a farmer can easily find the pesticide that they need to control a particular pest in their farm. Additionally, if a pest has developed resistance to a specific pesticide, a farmer can use another.
Nevertheless, there are also disadvantages of pesticide use as well. For instance, when a pesticide is overused in controlling a particular pest it can develop resistance. If the traits for the resistance are genetic-based, then the pesticide will no longer be effective in controlling that pest.
Some pesticides also kill beneficial insects. Insects such as bees which are agents of pollination can be killed by some pesticides. In addition, some pesticides have residual effects that can be passed on to humans who consume the crops on which they are applied. When used in the field, pesticides are carried by rain water and deposited in water bodies such as rivers and lakes where they interfere with aquatic life.
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Winners and Losers of Globalization
Globalization brought in a lot of changes, some negative and others positive. This is the reason why it is said that there are winners and losers of globalization; there are those that it changed for the better and others that it drove towards the path of poverty and desperation. It is generally believed that there are only two groups that emerged as the winners of globalization. These are the countries that were very rich or occupied the top spot in terms of the distribution of national and global income and those that were at the middle-level of emerging market economies like Indonesia, Brazil and China.
To date, it is still challenging to either confirm or reject these insights. However, a database of surveys conducted by the World Bank and other organization on households offer a clear picture on the winners and losers of globalization. From the statistics, we are able to get the clear view of the impacts of globalization in the past two decades, stretching from 1988 to 2008.
Based on the report by the World Bank, it is indicated that the top of the global income distribution are the ones that registered highly significant increases in per capita income. Closely following suit at are the emerging global middle class economies that comprise of more than one third of the population of the world. Within the period of the past two decades, the top 1% has seen their real income shoot upwards by more than 60%.
When trying to unearth the real winners and losers of globalization, it should be noted that there was an even greater increase by those sections of the global income distribution that occupied the median. These experienced a real increase of around 70% to 80% at the median.
Around the 50th and 60th percentile of global income distribution, is where we find some 40 million Indians, 270 million Chinese, 35 million Indonesians and 20 million Brazilians. Besides, there are also some Egyptians and Mexicans. These parts are occupied by people who in 2008 had annual per capita incomes ranging between 1,100 to 1,600 international dollars after tax. Even at the bottom third of the global income distribution table, we also find that significant improvements have been made with the incomes rising above 40% to about 60%.
The poorest 5% of the world’s population whose real incomes have only managed to move up by 16% can be termed as the losers. These are people whose real incomes within the two decades period only improved by single digits. In other words, they can be referred to as the global upper-middle class and include Communist nations, Latin America and the citizens of rich countries with immobile real incomes.
The winners of globalization are basically the elite transnational capitalist class who are mainly from the developed countries. Their economic interests are usually globally focused. The losers are the low qualified or unqualified who mainly operate in markets with little competition. It should be noted that even capitalists in developing nations are losers.
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Martha Stewart Insider Trading At Imclone Systems
Martha Steward is a business connoisseur popularly known for the insider trading scandal at Imclone Systems. She is the founder and CEO of the widely acknowledged Martha Stewart Living Omnimedia Inc. a company known for its interests in television, merchandising, publishing, electronic commerce and related international partnership among other interests. In the early 2000s, Martha Stewart was accused of insider trading whereby she had sold four thousand ImClone shares one day before the company’s stock nose-dived.
The charges of securities against Martha were thrown away, she was still found guilty of four counts of obstruction of justice and lying to the key investigators. She was sentence to five months of prison, two years of probation and five months of house arrest. The insider trading case at ImClone systems was also filled with great vagueness as it relates to retributive determination and aspect of being innocent or guilty.
A lot of issues came up from this insider trading case and a lot has been debated on central moral and ethical issues that surround insider trading practice. In many countries, insider trading is illegal regardless of the inside information provided secretly. With regard to the Martha Stewart case, insider trading was clearly evident. For instance, Martha had been a stakeholder of the biopharmaceutical company ImClone system incorporated.
This is a company that focused on advance oncology care and had come up with a new drug design- Erbitux which would have a treatment for patients with colon cancer. The licensing application has been provoked and would result to ImClone lose on share price. Merrill , Lynch’s senior broker, Peter Bacanovic had informed Martha about the drastic market change likely to happen in ImClone’s share price via his assistant Douglas Faneuil .
Mr. Faneuil has specified that the Waksals had sold of their securities from ImClone. Mr. Sam Waksal the CEO of ImClone had made a call directly to Bacanovic one of his brokers and dumped his company share to avoid any financial losses. From the secret information, Martha Stewart sold all her securities that totaled to 3928. From the insider trading perspective, Martha Stewart had no real responsibilities to other shareholders of ImClone as she was not in an official position to interfere with the operations of the company.
It is a clear indication that there was not any infringement of fiduciary duty in this situation. Unfortunately, Martha Stewart did commit insider trading as she possessed material information about the ImClone financial crisis in addition to being deceptive to authorities of what information she was provided with. On top of this, she might have been convicted of insider trading by the Securities and Exchange Commission [SEC].
In the Martha Stewart case, she had information on the ethics surrounding trading of the stock, but it can be argued that she was not cognizant of the changing aspects surrounding the offence when she sold off her shares. Martha would have defrauded and misled her shareholders as they had been provided with false information on the amount of shares she would have sold. These actions indicate unethical behavior and define lack of integrity. The damages caused in such cases are evaluated as compensatory and punishing. Therefore, entrepreneurs should uphold to business law and ethics for exceptional growth of economy.
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Shifting cultivation is described as agricultural system through which an individual uses a given piece of land and abandons it later or alters its initial use after a short duration. It involves clearing the piece of land which is followed by a couple of wood harvesting or farming years till the fertility of the soil is lost.
The land is used till it becomes inadequate for crop production after which is it reclaimed by natural vegetation or alternatively gets converted to another kind of cyclical farming practice. Cultivation can also be stopped when the piece of land gets overrun by weeds. The duration the piece of land is cultivated is often shorter compared to the time the land is given to renew by lying uncultivated.
The most common type of cultivation used in this case is known as slash and burn which involves the slashing and burning of vegetation, woodlands and forests. Others clear the lands without any burning while some cultivators are migratory and they don’t employ any cyclical techniques on the given piece of land.
There are instances when no slashing is needed and especially where the regrowth is purely of grass. This is not uncommon especially when the soil is close to exhaustion and the land needs to lie fallow for some time. Eventually, a piece of land that was previously cultivated will once more be cleared of natural vegetation and used for purposes of planting crops once more.
Fields in stable shifting systems and established fields are fallowed and cultivated cyclically. Ideally this kind of farming is known as jhumming in India. Most of the fallow fields aren’t productive and during fallow period, cultivators will use consecutive vegetation species for construction and timber for fencing, clothing, firewood, ropes, medicines, tools and carrying devices.
It is quite common for nuts and fruit trees to get planted in fallow fields making some of the fallows orchards. There are also instances when tree species and soil enhancing shrubs get protected from burning and slashing in fallows. Some of the species have been found to fix nitrogen and fallows contain plants known to attract animals and birds hence they are important for purposes of hunting.
Note that the longer any piece of land gets cropped, the greater the loss of nitrogen and phosphorus, soil organic matter and citation exchange capacity. In addition to this, it also leads to increase in soil acidity, soil porosity and reduction of infiltration capacity as well as seeds that naturally occur from soil seed banks.
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