Bp s Risk Management Plan For Preventing Oil Spill

Introduction BP (British Petroleum) is one of the leading companies that are delivering energy products and services to the people around the world. In this report, we studied BP’s risk management plan for preventing oil spill. The main reason for choosing BP and its oil spill preparedness plan is that the oil companies have become increasingly vulnerable to unwillingly cause disasters and BP is one of them. An event that highlighted this vulnerability and subsequently drew attention to the need to investigate, is the BP oil spill in 2010 was one of the worst oil disasters that affected environment adversely. Issues such as these have been a serious concern for the oil companies around the world. The aim of the investigation is to find†¦show more content†¦The effect of oil spill is usually calculated in terms of damage on the environment, aftermath on marine species, and effect on the tourism and fishery industries. The impact on human health is less known relatively. The financial costs associated with oil spills are also a factor. Arguably, it is a less serious consequence of an Oil Spill, however the financial costs have the potential to bankrupt an organization. BP suffered major financial loss as a result of the Oil Spill in the Gulf of Mexico. They have paid up to $1.5 billion in an effort to settle various claims and compensation. (BP, n.d) Recently, oil spill management has become a serious concern and subsequently, it has become a big issue as it takes a large, specifically trained team effort to solve the devastating problem. It also requires consistent efforts of the workforce. The Oil Spill in the Gulf of Mexico was perhaps another major contributing factor to highlighting the need for Oil Spill Management to be addressed. The director of the US Bureau of Ocean Energy Management Regulation and Enforcement, Michael Bromwich stated that this oil spill proved that oil and gas organizations were not prepared to deal with oil spills. (Merolli, 2010). Oils spill management Practices Literature suggest that the essential management practices to follow when responding to an Oil Spill is to dispose of oil spill debris with the aim ofShow MoreRelatedBp And The Gulf Of Mexico Oil Spill Case Study3246 Words   |  13 Pages BP and the Gulf of Mexico Oil Spill Case Study Tamatha French Management 6000 Hawaii Pacific University â€Æ' Introduction and Background On April 20, 2010, the petroleum industry suffered the largest maritime disaster oil spill in its history known as the Deepwater Horizon oil spill. The Deepwater Horizon oil rig that had been working on a well for BP in the Gulf exploded and went up in flames. 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According to (BBC, 2012) BP faces charges by the United States Government and has to compensate over USD7.5 billion to the victims. Furthermore, BP was responsible to ensure the cleaning of their spillage. Prior to the event, BP reconstructed their health and safety policy by ensuring zero tolerance to callous mistakes forRead MoreMonitoring System Sustainable Enterprise Sustainability3526 Words   |  15 Pagesmonitoring system to monitor the health of patients, while the operation of the business monitoring system monitoring business activities. Appropriate monitoring services can help make the right decisions at the right time in order hand it helps to reduce risk. Every business will have certain obligations but also on the natural persons associated with it. On the economic prospective it is equally important. 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Human Resource Management. Motivation. Maslow. Free Essays

string(67) " example you can recognise staff from Tesco by their work apparel\." Motivation- Having the will or desire to go ahead and do something or to work that little bit harder. Why we need motivation? Motivation may come from a person’s own interest such as their safety or other things not so personal like praise or reward. Different theorists have proposed that there are many different ways to motivate people. We will write a custom essay sample on Human Resource Management. Motivation. Maslow. or any similar topic only for you Order Now Pay is considered a main type of motivation in a work environment and outside a work environment. Pay however is not the only way of motivation. There are other ways that people may be motivated and things that will keep them motivated. These types of things are appreciation of work, opportunity to advance, responsibility and empowerment, a sense of achievement and the sense of challenge and enjoyment. A motivated workforce will work harder and together achieve more resulting in the whole workforce having a greater output in much less time, resulting in lower labour costs. It also doesn’t need much supervision. An unmotivated workforce will do the opposite. This work affects the amount of work and its quality. How to motivate is a difficult topic with everyone looking for something in a job sometimes not just pay. So a number of theorists have researched how this should be done. Frederic Taylor motivation in the late 1800s at the Bethlehem steel company in the USA. He believed that employees could be working more efficiently using their shovels. He figured out that 21. 5 pounds of weight was the best weight of material for an employee to lift in order to work at their full potential creating the best output. He recommended that they use shovels that could lift that amount. So Rewards that would be part of Taylor’s theory are things such as: * Pay :-For many employees the reason they go to work is for pay. They need money for bills and other expenses involved in everyday life. Some organisations will use pay as a reward for employees. They may be given additional pay in the form of a one off bonus or by giving employees a pay rise. However pay not be the key motivator to employees and some employees will work for low pay but may have job satisfaction. Tesco uses this form of reward to all employees. * Performance related pay :- This is a way for employees to be rewarded dependent on their performance in the last three, six, or twelve months. Lots of types of businesses use this type of reward and so will Tesco to its higher job roles such as management and so on. It is very common for manufacturing and sales jobs where the more products or sales the employees make the more they are paid. Area managers at Tesco will be paid more if their area is performing faster and of a higher standard. Profit sharing :- Profit sharing is when a business gives its employees a share of the businesses profits depending on how well the business is doing. Shares are divided between employees depending on how many years the employee has worked at the organisation and their level in the organisation. If the business is doing well the employees will see great benefits but if the business isn’t doing too well the payment will be small. Tesco will once again offer this to much higher staff such as managers and directors. * Employee Share options – Share options, like profit sharing are a way to reward employees based on a company’s performance. Share options can be given to employees free shares that they can sell after a set period of time or as an option to buy shares at a lower fixed rate than what the general public would pay. It can be quite difficult for employees to see how their individual commitment will affect the overall running and company performance. * Staff discounts :-Businesses such as Tesco and other businesses in this type of sector may offer discounts on products to their staff. Elton Mayo. In the 1920s and 30’s a theorist by the name of Elton Mayo set out about perfecting the ideas of Taylor and explored them in further depth he realised there was more to employee motivation than just pay. He created a study known as the Hawthorne Study, he carried out some experiments in the USA, Chicago to investigate motivation further. His study discovered a number of factors by testing incentive schemes, rest periods, hours of work, and changes in lighting and heating. Mayo’s whole study uncovered that rises in productivity were not only due to financial rewards, but also due to management involvement, team working and communication. So Rewards that would be part of Mayo’s theory are things such as: * Company Vehicles :- Company vehicles may be given to employees as a reward. They can use these vehicles in both their working and their personal lives and do not need their own vehicles for evenings and weekends. This kind of benefit like bonuses is taxed. Higher employees in Tesco may receive a company car this is good for both employee and employer, because the employee feels a sense of belonging and the employer will usual have free advertisement because the company car will have the logo of the organisation just like Tesco’s does. Childcare :- childcare is another reward that employers may offer to their staff. The childcare may be within the building with something like a nursery or creche, whilst other employees may pay toward the fees of a private or council nursery. For older children after school activities or holiday clubs may be paid for or subsided Tesco offers childcare schemes to most Tes co staff. * Corporate clothing :- Corporate clothing may be a uniform that an employee wears during their working hours as part of their job. Employers might also offer their staff a discount on clothing they can buy from the business. Some organisations use staff as Part of their identity, for example you can recognise staff from Tesco by their work apparel. You read "Human Resource Management. Motivation. Maslow." in category "Papers" * Flexible working :- Organisations like Tesco can offer employees special working hours which can be more motivating for staff helping them balance their working lives and their personal life. Work –Life balance can be very important to employees, especially if they have people to take care of or other personnel commitments. Flexible working hours usually makes employees feel more valued and less stressed. * Leave – offering yearly paid leave to employees is another form of a reward that is offered by Tesco. As of the 1st of April 2009 every full time employee is entitled to 5. 6 weeks paid leave per year as part of the working time regulation. * Cafeteria incentive schemes :- The name is a reference to the way you can pick what you want from a selection of different rewards and benefits and chose the ones they want. Making these rewards more personnel and motivating. The employer therefore, avoids spending money on rewards that are not wanted or needed. A sample of the type of benefits offered is things such as: Holidays * Company car * Bicycle loan * Insurance, e. g. medical cover * Loans * Childcare * Health screening * Season tickets for sporting events * Computers * Discounts * Pensions. Abraham Maslow suggested needs of individuals can be ranked into a hierarchy. The lowest ranking needs are basic needs and they must be fulfilled before any other needs can be fulfilled So Rewards that would be part of Maslow’s theory are things such as: * Pension schemes :- Some organisations like Tesco offer pension schemes such as rewards to employees these are usually one of two types. Contributory and non contributory. A contributory pension scheme is one that both the employee and employer put into, whilst a non-contributory pension scheme is one where only the employer puts money in to. Tesco employees all have the option of opening a contributory pension scheme they can open but also have the choice not to have one. * Health care :- many employers offer free or subsided health care to their employees and often their families as well. This means that if they are ill they can claim from organisations such as BUPA to have treatment privately. Health care may be given in the form of discount vouchers for treatments such as massages or beauty therapy. * Extended parental leave :- Extended parental leave is the amount of leave that can be taken by employees to look after their children in addition to what they are entitled to by law so tesco must offer leave however they also offer extended parental leave to higher management or skilled staff. – the work and families act 2006 ensures that all parents can take a certain number of weeks off work however it is not paid and neither is extended parental leave. But some employees may choose to pay full wage or half wage to employees who are taken leave and the organisation must keep their job position open for them until they return. * Career Breaks :-Employees are not entitled to a career break and they are also unpaid. They cannot also be guaranteed that once they return they will be placed in the exact same Job. Some organisations such as Tesco can offer these types of breaks because they may also bring benefits to the organisation. Key staffs are not lost, employees may return to work refreshed and happier and therefore more motivated also the organisation is seen to be caring for the well being of their employees. It is more common for employees over the age of 35 to take a career break rather than younger employees. * Salary Sacrifice schemes :- These schemes enable employees to give up some of their gross salary to receive a form of a reward or benefit instead. The advantage of using this scheme is that the employee or employer will not have to pay as much tax or national insurance. Tesco can offer salary sacrifice schemes to all levels of employees for example the options for floor staff to have a pension scheme or not. Frederick Herzberg Frederick Herzberg had close links with Maslow and believed in a two factor theory of motivation. He argued that there were certain factors that a business could introduce that would motivate employees to work harder, these are called motivators. But on the other hand there were also factors that would de-motivate an employee these are called hygiene factors So Rewards that would be part of Herzberg’s theory are things such as: * Bonuses -Bonuses can be a god way of rewarding employees with extra money. When they are paid a bonus this doesn’t have to be done every year. They are a reward that many employees like to receive however bonuses like pay do require tax and national insurance to be paid. Other forms of rewards that tesco do not offer but could are things such as * School Fees :- some employers will offer to cover or contribute to school fees as areward to the employee. This happens especially if the employee teaches or works for the school that their child attends. If an employer had a number of employees that’s children went to a particular school the employee may be able to gain a discount. Loans/ advances :-sometimes employees may have large expenses they have to pay for in their personal life so employers may offer part of their future wages (an advance) to be paid in to their account. Employers may also offer loans, often with a special low rate interest. * Mortgage subsides :- mortgage subsides are payments that are given to employees to pay toward their mortgages. This reward scheme is usually used in areas where the housing is very expensive. Some organisations such as banks offer mortgage subsiders as part of their employee’s benefits. * Relocation Fees :- A relocation fee is the money that is paid to relocate an employee as part of their new or current job. There is no automatic right to receive relocation fees and some organisations will willingly pay for all expenses. This option will be placed on the type of position that the employee has in the organisation and how long they have worked for the organisation. How to cite Human Resource Management. Motivation. Maslow., Papers

Prepare Responses to Questions 3 4, and Mini

Prepare Responses to Questions 3 4, and Mini-Exercise M3-2, from Ch. 3 of Fundamentals of Financial Accounting. Essay 3. Define accrual accounting and contrast it with cash basis accounting. Accrual accounting realizes accounting changes as the revenue and expenses during the period in which it occurs. You will see the cash method used by small businesses because cash in hand is king and they cannot afford to count it any other way. So cash base is simply that you count it when it is actually received and the same goes for any expenses, they are counted when taken. 4. What four conditions must normally be met for revenue to be recognized under accrual basis accounting? . Earnings process is complete 2. Transaction of exchange is noted 3. Revenue is recognized 4. Process is completed M3-2 Reporting Cash Basis versus Accrual Basis Income Mostert Music Company had the following transactions in March: a. Sold instruments to customers for $10,000; received $6,000 in cash and the rest on account. The cost of the instruments was $7,000. b. Purchased $4,000 of new instruments inventory; paid $1,000 in cash and owed the rest on account. c. Paid $600 in wages for the month. d. Received a $200 bill for utilities that will be paid in April. e. Received $1,000 from customers as deposits on orders of new instruments to be sold to the customers in April. Complete the following statements: Cash Basis Income StatementAccrual Basis Income Statement Revenues: Revenues: Cash Sales$6,000. 00 Sales to customers $6,000. 00 Customer Deposites$1,000. 00 Expenses:$200. 00 Expenses: $1,000. 00 Inventory Purchases$4,000. 00 Cost of Sales $0. 00 Wages Paid$600. 00 Wages Expenses $600. 00 Utilities Expenses $0. 00 Cash Income$2,200. 00 Net Income $5,600. 00 Week Three Textbook Assignment – Troy Ives Prepare responses to Part A of Problem 1-30A from Ch. 1 of Fundamentals of Financial Accounting Concepts. PROBLEM 1–30A Interrelationships among Financial Statements O’Shea Enterprises started the 2002 accounting period with $30,000 of assets (all cash), $18,000 of liabilities, and $4,000 of common stock. During the year, O’Shea earned cash revenues of $48,000, paid cash expenses of $32,000, and paid a cash dividend to stockholders of $2,000. O’Shea also acquired $10,000 of additional cash from the sale of common stock and paid $6,000 cash to reduce the liability owed to a bank. Required a. Prepare an income statement, statement of changes in stockholders’ equity, period-end balance sheet, and statement of cash flows for the 2002 accounting period. (Hint: Determine the amount of beginning retained earnings before considering the effects of the current period events. It also might help to record all events under an accounting equation before preparing the statements. †¢Prepare an income statement Assets=LiabilitiesOwners Equity Revenues$48,000. 00 Expenses$-32,000. 00 Income (Net)$16,000. 00 †¢Statement of changes in stockholders’ equity Assets=LiabilitiesOwners Equity Common stock$4,000. 00 Sales of stock$10,000. 00 $14,000. 00 Ret. Earnings$8,000. 00 Income (Net)$16,000. 00 Pd. Dividends$-2,000. 00 Ret. Earnings$22,000. 00 Equity$36,000. 00 †¢Period-end balance sheet Assets=Liabilities Owners Equity Assets$48,000. 00 Total Assets$48,000. 00 Liabilities$12,000. 0 Owners equity$36,000. 00 Total (liabilities + equity)$48,000. 00 †¢Statement of cash flows for the 2002 accounting period Assets=LiabilitiesOwners Equity Customers Rcpts (Cash)$48,000. 00 Operating Expenses (Cash)$-32,000. 00 Net Cash$16,000. 00 Common Shares (sold)$10,000. 00 Payback Loan (bank)$-6,000. 00 Payment dividend$-2,000. 00 $2,000. 00 Net Cash$18,000. 00 Cash at start$30,000. 00 Cash at end$2,000. 00$4,8000. 00 CHECK FIGURES a. Net Income: $16,000 b. Total Assets: $48,000

Tata Steel Case Study Analysis Essay Example

Tata Steel Case Study Analysis Paper Introduction The Tata Group is a very large group of businesses that dominate markets in India. The organization has established itself as a leader in markets such as the airline industry, hotel, software, investment, and steel industry. There is a long history of corporate responsibility within the group, and it is no surprise that all Tata companies have adopted a Tata Code of Conduct as well as many international standards. Tata Steel is one of twenty-eight major corporations within the Tata Group. Founded in 1907, it is the largest private sector steel company in India. Operations are spread across the country, with the steel manufacturing unit at Jamshedpur, and other manufacturing and mining activities situated in the states of Jarkhand and Orissa at eight locations. The Tata Group headquarters is based in Mumbai, Maharastra. This paper provides an overview and analysis of the accounting problems that Tata Steel is faced with after acquiring a foreign company. Company Profile Tata Steel, incorporated in 1907 by Shri Dorabji Tata, is Indias largest private sector steel company belonging to the Tata Group. The company manufactures finished steel, both long and flat products like hot and cold rolled coils and sheets, galvanized sheets, tubes, wire rods, construction re-bars, rings and bearings. The company markets its products in brands like Tata Steelium, Tata Tiscon, Tata Pipes, etc. The company is among the lowest cost producers of steel in the world. Its main plant is located in Jamshedpur, having a manufacturing capacity of 5 MTPA (million tonne per annum) while its processing units, captive iron ore and coal mines are located in the states of Orissa, Jharkhand, Maharashtra, Gujarat and West Bengal. We will write a custom essay sample on Tata Steel Case Study Analysis specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Tata Steel Case Study Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Tata Steel Case Study Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer With its head office located in Mumbai, the company functions through a network consisting of trading arms and operation and projects sites spread across countries in the continents of Asia, Europe and America. Apart from Steel there are six Strategic Business Units or divisions for Bearings, Ferro Alloys and Minerals, Rings and Agrico, Tata Growth Shop, Tubes, and Wires. It operates in more than 20 countries and has a commercial presence in over 50. In the past few years, Tata Steel has invested in Corus (UK), Millennium Steel (renamed Tata Steel Thailand) and NatSteel Asia (Singapore). With these, the company has created a manufacturing and marketing network in Europe, South East Asia and the Pacific-rim countries Problem Tata Steel Faces Tata Steel is faced with a very serious, and somewhat complex, problem. The company has global ambitions. By that I mean the company wants to establish itself as a power and contender in the global marketplace. Tata Group acquired UK based Corus Group, a well established steel company in its own right, by way of a $12. 1 billion deal. The deal was partly funded with a $6. billion dollar loan that was primarily denominated in Euros. The currency in which the Corus Group earned most of its revenues was Euros. It made sense for the Tata Group to fund the deal in Euros in order to avoid exposing the debt to currency risk. The problems that the Tata Group would face due to this deal brought about an issue that the organization really did not have much experience in dealing with. Because of the currency denomination issues with this dea l, the Tata Steel would have a liability of over $600 million on its financial books. Although, the reality of the situation is that Tata Steel has a sound and balanced financial structure and accounting practices. Because of international accounting laws that India and the Tata Group have adopted, on the books it looks as if Tata Steel is carry more liabilities or debts than it really is. This is significant because an investor or shareholder would look at the company’s financials and think that the organization is not as financially stable as it really is. Tata Steel used Indian Generally Accepted Accounting Principles (IGAAP) to prepare their financial statements. IGAAP merged with the global accounting system known as the International Financial Reporting Standards (IFRS). The problem with this is that by IFRS standards the merger, or natural hedge, was not recognized. IGAAP and IFRS both mandated that foreign currency loans be denominated in the borrowing company’s home currency for accounting purposes. This created a reporting problem for Tata Steel when in reality there was no financial problem with the deal. SWOT Analysis of Tata Steel Strengths Global position in steel industry Tata Steel is one of the most prosperous and profitable steel companies in the world. The acquisition of Corus and other global steel companies have bolstered Tata’s position in the marketplace and made it one of the top steel companies in the world. Corporate governance Tata Steel has had a very good record for corporate governance. It has set the benchmark in global corporate governance principles of accountability, transparency, and equity for others to follow. Tata Steel has been consistently receiving prestigious awards at both the national and the international arena. The company was awarded the Best Governed Company Award in 2006 for corporate practices presented by Asian Centre for Corporate Governance. Brand value The Tata Steel brand, owing to its highly ethical and a socialistic approach to business, has made its name synonymous to trust. The acquisition of Corus made Tata Steel an even more reputable and powerful company. Tats Steel was a well known brand even before the acquisition of Corus. The addition of Corus makes Tata Steel one of the most well known and productive companies in the world. Innovation of Tata Steel Tata Steel has the lowest operating cost for steel manufacture in the world. Further it has displayed effective means in adopting an eco-friendly and sustainable approach towards the manufacture of steel thus proactive measures are undertaken to ensure the employees health and productivity through ergonomically designed work stations and by protecting them from occupational hazards. Adaptability to the fast changing global business environment Tata Steel has displayed immense agility in the recent past during the global financial crisis. Its virtuosos of various fields have adopted various methods like lowering production and even shutting down steel plants due to the lack of demand, managing the balance sheet efficiently etc. The company has 70% of its procurement of raw materials for its operations in Asia through long term contracts and so its margins can be shielded from the nuances of the volatility of the financial markets. Management Team Tata Steel has a highly credible management team who has displayed their skills in expanding the company through various innovative methods. The company has successfully acquired Nat Steel of Indonesia, Millennium Steel of Thailand and more importantly UK based Corus. The company’s virtuosos of finance have been able to find innovative ways to tackle the company’s debt and keep the bottom line in the green zone despite lower demand and a lot of accumulated debt. Weaknesses Debt burden Tata Steel has a total debt of $9. 8 billion USD on its books, much of it from the Corus acquisition. The company plans to refinance $6. 5 billion of its long term debt. It has an unfavorable debt to equity ratio which means the assets of the company are largely financed through debt. With the steady increase in inflation most countries are beginning to tighten credit and liquidity in the money markets. As a result of inflation increases, interest rates are on the rise as well. An increase in interest rates means an increase in the company’s liabilities. This will further add to the degradation of Tata Steel’s balance sheet. Conservative accounting practices India has very conservative accounting standards. The system works within the country but lacks flexibility and adaptability when it comes to reporting differences in currency. Because the Tata Group has global aspirations, the company must deal in various currencies when doing business with global companies. The problem lies in the rules governing the accounting practices within India. All foreign currencies must be converted to the home countries currency when reporting on financial statements. Technology Many steel companies have implemented different technologies into their plants to make production and productivity more efficient. There is a new fluorescent x-ray technology that some companies have adopted. Tata Steel is lacking in this area. Tata Steel has failed to adopt new technology to lower cost, improve production, and improve employee safety standards. Procurement philosophy of its subsidiaries The largest subsidiary of Tata Steel, Corus, has high exposure to spot prices and a higher operational gearing among the larger European steel companies. Hence it has the risk of volatility associated with pricing, one of the key elements in determining profitability of a commodity company. Opportunities Competitive position Tata Steel is the second largest producer of steel in India and the sixth largest producer in the world. Over the years Tata Steel has been acquiring various steel companies around the world, the latest being Corus. There is a lot of room for Tata to grow and further establish itself as a perennial power in the global marketplace. Technological advances Tata Steel has shown immense integration abilities in the past. With the acquisition of Corus it has been able to integrate the high end technological knowledge into its production facilities. The company has also been able to produce high quality steel at lower prices and significantly improve its operating margins. Infrastructure opportunities India has geared up for rapid expansion in the field of infrastructure. The Government of India (GOI) has earmarked Rs. 1, 70,000 crore for infrastructural spending for the fiscal year 2010- 2011 and the trend is set to escalate up to the fiscal year 2025 when India is slated to become the third largest economy in the world. Further many private players either independently or by undergoing public private partnerships (PPP) has also come into the fray. The consumption of steel has been steadily increasing with the rapid investment in the infrastructure and real estate projects. The annual steel production of India has touched 200MT and according to governments steel policy is expected to touch around 250 MT by 2013-2014. The demand for Indian made steel is escalating overseas out of the 200 MT of steel currently produced in India around 50% of it is exported. In the first six months of the fiscal year 2009-2010 the Indian steel export almost doubled to 9. 3MT from 4. MT in the same period the previous fiscal year. The country’s iron ore exports during April-October 2009 period grew 20 per cent over the year ago period to 53 million tons. Accounting practices India’s accounting regulations does a disservice to many of the companies who operate globally. Because of the reporting regulations, Tata Steel has a liability on its balance sheet that realy doesn’t exist. The currency conversion rules hinders Tata Steel from putting together a balance sheet that reflects its actual holdings and activities. Tata Steel has an opportunity to help change the accounting standards in India to allow companies to report their financial activities accurately so that shareholders will have an accurate view of the financial position the company is in. Demand for steel The demand for steel is on arise both domestically and internationally as a result of the enhanced focus upon infrastructural development. Secondly with other steel projects of international giants POSCO, ARCELOR MITTAL stalled due to land acquisition problems the prices of steel are slated to soar. In the month of April 2010 the steel prices were increased by Rs. 2500/ton and this is just the brink of the U-Shaped economic recovery and the prices are slated to rise further in the near future. Acquisitions In the aftermath of the financial crisis various mineral assets are available globally at a price which is just a fraction of their prime value. The government of various countries has been putting up coal blocks under the hammer. Tata Steel has been very active in the asset acquisition space and has bagged various coal blocks in Asia, Africa etc. which is essential for its security of raw materials. Threats International competition Companies like the Indian Steel magnate Lakshmi Mittal’s Arcelor Mittal and Posco have landed on the shores of India. These are amongst the largest steel producers in the world and have a high chance of eating into the market share of Tata Steel. Indian market is also plagued with cheaper Chinese made steel which is ubiquitously available and is significantly digging into the market-share of all Indian steel makers including Tata Steel. Down Economy Tata Steel has a very large debt of 9. 8 billion USD on its books and has a huge interest burden. With the volatility of the financial markets and the tightening of credit and liquidity by the banks, interest rates are slated to go up and would further increase the interest burden of the company. Regulatory issues in India The government of India has chalked a strict norm for the clearance of a plant through environmental impact assessment (EIA). To get clearance from the concerned authority demands more than eight months thus leads to delay and project cost escalation. Albeit the governments’ steel policy has been pro industry in order to increase the steel capacity at a brisk pace.

Profile of the Nazi Low Riders - NLR

Profile of the Nazi Low Riders - NLR The Nazi Low Riders (also known as the NLR) originated during the 1970s inside a California Youth Authority facility and is closely associated with the two gangs - Aryan Brotherhood (AB) and the Public Enemy Number One (PEN1). Founded by John Stinson, a white supremacist inmate, the gang was originally formed to act on behalf of the powerful Aryan Brotherhood. Alliances were made and the NLR acted as errand boys to the AB. In the 1980s, the authorities worked hard to break up the AB by isolating its known members in maximum lockup prisons like Pelican Bay and other Security Housing Units (SHUs) and the NLR was needed to conduct AB business in the medium security prisons. Up to this point, the NLR was viewed by prison officials more as a troublesome group rather than a gang. But with its strong alliance with the AB, which had proven to be the most powerful and ruthless prison gang, the NLR began to grow and prison officials took notice. Unlike the AB with its strict - whites only - policy, the NLR permitted some Hispanics to join. Money, not racial purity, seemed to be their ultimate goal. However, in 1999, the NLR was officially classified by CDC authorities as a prison gang causing its membership to also be housed in SHUs, thus diminishing the NLRs usefulness to the AB. Organizational Structure Unlike their AB mentors, the NLR has a simple structure which is adhered to more inside the prisons than on the streets. There is a three-tier system: Seniors: Requires five years of gang membership and at least three seniors must elect the candidate.Juniors: Act in the  capacity of foot soldiers and may recruit new members, but cannot induct new members into the gang.Kids: Are recruits generally coming from smaller gangs. Symbols - Tattoos SwastikasNLR - Nazi Low RidersSS - Lightning boltsHH - Heil Hitler88 - The numerical equal to HHWP - White PowerWSU - White Student UnionAYM - Aryan Youth Movement There are no strict rules about placement of NLR tattoos. In fact, many NLR members are hiding their tattoos in order to avoid being detected as a member and thus being sent to a maximum security prison. Others tell prison officials that the NLR tattoo stands for No Longer Racist. Enemies/Rivals American MafiaBloodsCripsNorteà ±osBlack Guerrilla FamilyNuestra FamiliaMara SalvatruchaLos Angeles crime familyRussian MafiaFriends Stand UnitedLos ZetasOutlawsIsraeli Mafia Allies Aryan BrotherhoodPublic Enemy No.1 Today the NLR operates on the streets, but primarily inside prisons. They have engaged in a variety of criminal activity including extortion, the production and distribution of illegal narcotics, assault, hate crimes, and murder. There are an estimated 1,000 members spread across California, Arizona, Nevada, Utah, Oklahoma, Illinois and Florida. Internal Struggles In recent years the gang has had some internal struggles over the race issue. One group wants to adopt the Aryan Brotherhood policy of pure white members only, while others want to remain with a half-white ancestry and no black ancestry policy for membership. The Nazi Low Riders Oath I, as a Nazi Low Rider, hereby swear an unrelenting oath upon the green graves of our sires, upon the children in the wombs of our wives, upon the throne of god almighty, sacred to his name, to join together in the holy union with the brothers in this circle and to declare forthright that from this day moment on that I have no fear of death, no fear of foe, that I have a sacred duty to do whatever is necessary to deliver our people from the Jew and bring total victory to the Nazi Low Riders.I, as a Nazi Low Rider Warrior, swear myself to complete secrecy to the Order and total loyalty to my comrades.Let me bear witness to you, my brothers, that should one of you fall in battle, I will see to the welfare and well-being of your family.Let me bear witness to you, my brothers, that should one of you be taken prisoner, I will do whatever is necessary to regain your freedom.Let me bear witness to you, my brothers, that should an enemy agent hurt you, I will chase him to the ends of the ear th and remove his head from his body. And furthermore, let me bear witness to you, my brothers, that if I break this oath let me be forever cursed upon the lips of our people as a coward and an oath breaker.My brothers, let us be his battle-ax and weapons of war. Let us go forward by ones and twos, by scores and legions and as true Nazi Low Riders with pure hearts and strong minds face the enemies of our brotherhood and families, with courage and determination.We hereby invoke the blood covenant and declare that we are in a full state of war and will not lay down our weapons until we have driven the enemy into the sea and reclaimed that which is rightfully ours. Through our blood and gods will, the land will be that of our children. UNTIL DEATH

The Insanity Defense in Criminal Cases

The Insanity Defense in Criminal Cases The standard for claiming a defendant is not guilty by reason of insanity has changed through the years from strict guidelines to a more lenient interpretation, and back to a more strict standard again. Although definitions of legal insanity differ from state to state, generally a person is considered insane and is not responsible for criminal conduct if, at the time of the offense, as a result of a severe mental disease or defect, he was unable to appreciate the nature and quality or the wrongfulness of his acts. This reasoning is, because willfull intent is an essential part of most offenses, a person who is insane is not capable of forming such intent. Mental disease or defect does not alone constitute a legal insanity defense. The defendant has the burden of proving the defense of insanity by clear and convincing evidence. The history of the insanity defense in modern times comes from the 1843 case of Daniel MNaghten, who tried to assassinate the prime minister of Britain and was found not guilty because he was insane at the time. The public outrage after his acquittal prompted the creation of a strict definition of legal insanity which is known as the MNaghten Rule. The MNaghten Rule basically said a person was not legally insane unless he is incapable of appreciating his surroundings because of a powerful mental delusion. The Durham Standard The Durham standard was a much more lenient guideline for the insanity defense, but it addressed the issue of convicting mentally ill defendants, which was allowed under the MNaghten Rule. However, the Durham standard drew much criticism because of its expansive definition of legal insanity. The Model Penal Code, published by the American Law Institute, provided a standard for legal insanity that was a compromise between the strict MNaghten Rule and the lenient Durham ruling. Under the MPC standard, a defendant is not responsible for criminal conduct if at the time of such conduct as a result of mental disease or defect he lacks substantial capacity either to appreciate the criminality of his conduct or to conform his conduct to the requirements of the law. The MPC Standard The MPC standard was popular until 1981, when John Hinckley was found not guilty by reason of insanity under those guidelines for the attempted assassination of President Ronald Reagan. Again, public outrage at Hinckleys acquittal caused lawmakers to pass legislation that reverted back to the strict MNaghten standard, and some states attempted to abolish the insanity defense altogether. Today the standard for proving legal insanity varies widely from state to state, but most jurisdictions have returned to a more strict interpretation of the definition.

THE IMPACT OF IOM REPORT ON NURSING Assignment Example | Topics and Well Written Essays - 1500 words

THE IMPACT OF IOM REPORT ON NURSING - Assignment Example The recommendation of the Institute of Medicine (IOM) on the future of nursing has been viewed by nearly 64 million people within the first year of its publication, undoubtedly indicating that it is one of the most inspiring pieces of medical literature of the 21st century, not only having an enduring influence on healthcare but most importantly creating a pioneering route ahead for the nursing profession. The fast changing dynamics of nurses’ practice in the last decade has made it necessary for the health industry to bring about important changes in nursing practice. In an endeavor to sustain and enhance the potential of nursing and progression in healthcare, the Institute of Medicine and Robert Wood Johnson Foundation (RWIF) produced an action oriented blueprint ‘The Future of Nursing: Leading change and advancing health’. With the dawn of the 21st century, our nation is encountering a lot of new trends and challenges in healthcare, most importantly, as the population of elderly people is escalating with the approaching decades and concern being changing to a graver and broader diversity of chronic ailments. For this reason, the IOM report has recommended providing nurses with an enhanced system of education that helps them accomplish higher levels of education and training as well as endorses flawless academic progression (IOM, 2011, p. 163). Moreover, according to IOM it is also important to direct the educational systems for preparing nurses towards community settings like primary care, long-term care and public health. The IOM committee further suggested that the nursing curriculum in schools should be reassessed, renewed, and made adequately adaptive in science, technology, research, and rich fundamental theories as it will augment their decision making skills concerning dynamic clinical situation s in all settings and thereby, meet the continual changing requirements in health care. Another recommendation stated that the entrance level qualification for nursing practice should be upgraded to acquisition of a baccalaureate degree rather than simply a diploma or associate degree in nursing. The impact of this will be that nurses shall become better equipped with competencies to participate in configuration of health policies, financial decision-making, leadership, and quality enhancements. In fact, nurses will be imparted with additional critical thinking aptitudes which will enable them to provide more effective and enhanced quality of care to the patient (IOM, 2011, p. 169-170). The IOM suggested that by 2020 the percentage of nurses who attain a Baccalaureate in the Science of Nursing (BSN) should be augmented to 80%, among which minimum 10% of BSN nurses should be persuaded to enter a master or doctoral program, to help twofold the number of nurses who take up doctoral deg rees in future (IOM, 2011, p. 163).. This recommendation is paramount as this will produce more nurses at Master’s and Doctoral levels who will be able to serve as primary care providers, researchers, and become part of the faculty team which is huge requirement in this profession currently (IOM, 2011, p. 163). Another arena which the IOM pinpointed which needs to be improvised was the ongoing crisis of nurses with the right skills. This crisis is due to the high turnover rates primarily caused by the hurdles confronted by new graduates when transferring skills into practice. For this, the IOM suggested initiation of nurse residency programs as this will assist in delivering complete knowledge and