Media Ethics and Hidden Cameras - 5346 Words

Was the use of Hidden Cameras by the News Media Ethically Justified in the Fahey and Todd Cases? Explore Why or Why Not, Referring to Recent Cases [Jane Shannahan] Introduction Right to privacy became an issue in the US as far back as 1890 in words not unfamiliar to 21st century ears: â€Å"The press is overstepping in every direction the obvious bounds of propriety and of decency. Gossip is no longer the resource of the idle and of the vicious, but has become a trade, which is pursued with industry as well as effrontery† (Warren amp; Brandeis, 1890, cited in Pearson, 2005, p.2). Privacy is much more widely violated today due to technology. Ethical guidelines for journalists have not kept up with these changes, augmented by the†¦show more content†¦Similarly, Mark Todd never responded to the accusations against him and any comments were confined to the manner in which the photographs were obtained and the detrimental effect on him, his family and his eventing career. Morgan Fahey’s campaign involved vehemently denying the accusations whilst condemning the method and making similar pleas for understanding. The New Zealand EPMU’s Journalism Code of Ethics contains guiding precepts including the desire that members do not gain by cash or kind; that they are fair in obtaining news and images and are open as to their provenance when in company of subjects/interviewees and respect privacy (http://www.epmu.org.nz/journalism-code-of-ethics/). The NZ Press Council (NZPC) also recognises the importance of privacy in their Statement of Principles. However, the NZPC puts privacy in the overall context of pursuit of the public interest: â€Å"nevertheless the right of privacy should not interfere with publication of matters of public record, or obvious significant public interest† and subterfuge should only be utilised when â€Å"information cannot be obtained in any other way† (http://www.presscouncil.org.nz/principes.html). However, membership of EPMU is not compulsory and neither set of tenets are actually laws. On top of this, the ‘get out’ pertaining to matters of ‘public interest’Show MoreRelatedInvasion Of Privacy And Discrimination Essay1452 Words   |  6 Pagesof our lives and our businesses are no different. Even though we have made huge progress in terms of technology and what not, yet one can always use these technologies in a way that can negatively impact our lives. It all comes down to morality and ethics. In this essay I will be discussing the Ethical issues within Human Resource Management in relation to the invasion of privacy and discrimination and how Human Resource Management can outlay programs where it can achieve its objectives without crossingRead More Use of Bathroom Scenes in the Film Pulp Fiction Essay1640 Words   |  7 Pagesthey’re one of Quentin Tarantino’s favorite tools to use on the big screen. If one were to study the history of American media, he or she may notice that bathrooms are scarcely pictured. In fact, it wasn’t until the 1960 release of Alfred Hitchcock’s Psycho that a toilet was shown in cinema. The featured toilet caused quite a stir among critics, and became a symbol of American ethics. Quentin recognized the subject of morality that resided in the use of bathrooms and used it to his advantage. In hisRead More Parallels Between The Truman Show and Platos Allegory of the Cave866 Words   |  4 Pagesshow, is the only one who doesnt know that he lives in a giant studio and is surrounded by an illusion of reality. The entire world watches Trumans movements twenty four hours a day, seven days a week through the use of thousands of miniature hidden cameras. The Truman Show closely parallels Platos Allegory of the Cave. Initially, Truman is trapped in his own cave; a film set or fictional island known as Seahaven. Truman?s journey or ascension into the real world and into knowledge is similarRead MoreHow I Use Moving Image And Graphic Art1747 Words   |  7 PagesGuardian,† March 2015) For the research, I conduct a number of case studies, a contextual and literature review, which are focused on Middle Eastern and Syrian art. I explore questions around the domestic perspective, as a creative response, and the ethics of war images, all of which will lead me to develop my own practice and reflect upon it. In this way I define my own approach to the subject and point out its differences and similarities with the reviewed creative and academic encounters. The consistentRead More Media Affects on the Self- image of Women Essay916 Words   |  4 Pages Media Affects on the Self- image of Women When you first glance at this article, you might say to yourself â€Å"I know what women in the media is about, its stereotypes and sexism.† What you probably don’t know is that however subtle, these visual cues are affecting women individually and collectively, in how they view themselves and other women. Relationships are a fundamental aspect of women’s behaviorism and advertising exploits this. It turns people into objects and offersRead MoreThe Stanford Prison Experiment1658 Words   |  7 PagesAbstract Ethics in psychological research and testing is one of the most important issues today. The Stanford Prison Experiment, conducted over 40 years ago, brought these ethical issues into the limelight and remains one of the most controversial studies in the history of studying human behavior. This paper aims to define ethics, describe risk/benefit ratio, provide a brief background on the Stanford Prison Experiment, and evaluate the impact it has had on psychological research. â€Æ' The StanfordRead MoreThe National Football League Essay1726 Words   |  7 Pageshas since influenced America not only economically but personally as the sport’s dangers are slowly unmasked. The National Football League has been covering up the corruption that has been going on for many decades and as people begin to dig, many hidden truths are beginning to be uncovered. When people think about the NFL, they are reminded of the sport that many have loved so much but little does our society realize the major economic effects that the NFL has on America. Not all of us realize howRead MoreCritical View Into Philip Zimbardo s Stanford Prison Experiment 1530 Words   |  7 Pagesprisoners were arrested, given their arrest rights and underwent the enrolment procedure as is the case with real prisons. After the warden read their ground rules and they settled in their mock cells, their behaviour was monitored closely through hidden cameras mostly. (Martyn, 2008) A day into the experiment the cordial behaviour between the two parties changed. Soon enough the guards ruled while the prisoners no longer fought back but instead submitted to the ill treatment in the hands of the guardsRead MorePrivacy and Citizens Data1498 Words   |  6 Pagesthe antiwar and civil rights movements of the next decade had the federal government been granted such broad powers to monitor and control the civilian population. For example, the DHS admitted to using data mining programs like ADVISE to uncover hidden patterns and relationships among its target groups, and that it had developed these without bothering to address privacy and civil rights concerns at all. Its officials also stated that retrofitting the programs to take account of such issues wouldRead MoreA Discusion of Two Documentaries, Awaiting for Men and Sick: The Life and Death of Bob Flanagan, Supermasochist1677 Words   |  7 Pagesof Bob Flanagan, Supermasochist (1997), his productions were most ly on human sexuality and issues of secrecy such as Twist of Faith (2005), a documentary based Tony Comes experience on a sexual abuse at the hands of a Catholic priest that he kept hidden for 20 years. Could his documentary be a form of a medium for the minority and the abused? Or could his fearless approach to these sensitive issues be a form of education for the society of the exclusive minorities that do exist and to accept them

Physics,Chemistry,Maths Sample Papers - 1667 Words

FIITJEE Talent Reward Exam for student presently in Class 10 PAPER–1 Time: 3 Hours Maximum Marks: 214 Instructions: Caution: Question Paper CODE as given above MUST be correctly marked in the answer OMR sheet before attempting the paper. Wrong CODE or no CODE will give wrong results. 1. This Question Paper Consists of 7 Comprehension Passages based on Physics, Chemistry and Mathematics which has total 29 objective type questions. 2. All the Questions are Multiple Choice Questions having only one correct answer. Each question from Q. 1 to 9 carries +6 marks for correct answer and –2 marks for wrong answer. Each question from Q. 10 to 29 carries +8 marks for correct answer and –3 marks for wrong answer. 3. Answers have to be marked on†¦show more content†¦10 - 14) A negatively charged particle having magnitude of charge q = 0.1 c and mass m = 200 gm moves with speed v = 10m/s enters a region having magnetic field B ï€ ½ 4T making an angle 60 ° with X axis as shown in figure. The direction of magnetic field is out of the X–Y plane. A convex lens is placed at a distance 14.3 m from origin. Region of magnetic field starts from origin and extends till lens. Focal length of lens is 50 cm. Take X-axis as principle axis. Y B 60 ° V 10. 11. 12. Calculate the radius of path of charge (A) 4.25 m (C) 5 m (B) 0.64 Hz (D) 3.14 Hz ï  ° sec? 6 (B) 2 kg m/s (D) 17.32 kg m/s What is change in momentum from t = 0 to t = (A) 8 kg m/s (C) 10 kg m/s 13. What is the image height at t = (A) 7.5 cm (C) 4.5 cm 14. f = 50 cm 14.3 m (B) 6 m (D) 7.1 m Find the frequency of revolution (A) 0.32 Hz (C) 2.16 Hz X ï  ° sec from principle axis 6 (B) 13 cm (D) 9 cm Find the minimum value of initial velocity of charge so that image formed is virtual. (A) 7.2 m/s (B) 14.8 m/s (C) 16.4 m/s (D) 20 m/s Space For Rough Work FIITJEE Ltd., FIITJEE House, 29-A, Kalu Sarai, Sarvapriya Vihar, New Delhi -110016, Ph 46106000, 26569493, Fax 26513942 website: www.fiitjee.com FTRE-2013(Sample)-C-X-P1-PCM-5 Passage – 5 (For questions no. 15 - 19) Chlorine forms a number of oxides by using different valencies like 1, 3, 5 and 7. TheShow MoreRelatedTeaching1801 Words   |  8 Pages2 1. Bring to class a sample instructional material you made and explain how it could be used for science concept. Every Friday is our arts day. It just so happen that one of my pupils had a hard time with her assignment in that day. She has to determine 10 objects that are magnetic and 10 objects that are not. To incorporate arts in her lesson, I let her draw a racing obstacle and a cut out animal. We placed objects over our animal and a magnet underneath the paper obstacle. Once the animalRead MoreBiography of Marie and Pierre Curie Essay2008 Words   |  9 PagesAfter doing some research over Marie and Pierre Curie I was able to put together this paper. This paper contains information about the life of Pierre and Marie Curie and their significance to physics and science in general. Pierre and Marie Curie are best known for their pioneering work in the study of radioactivity. The couple’s work led to their discovery of the elements radium and polonium (Dick). Pierre Curie was born on May 15, 1859. He was born in Paris, France. Pierre’s parents wereRead MoreRelation and Uses of Mathematics in Other Subjects6462 Words   |  26 PagesMaths and other subjects relation Mathematics and its importance Mathematics is a fundamental part of human thought and logic, and integral to attempts at understanding the world and ourselves. Mathematics provides an effective way of building mental discipline and encourages logical reasoning and mental rigor. In addition, mathematical knowledge plays a crucial role in understanding the contents of other school subjects such as science, social studies, and even music and art. Firstly, we askRead MoreEssay about Career Profile: Engineering1308 Words   |  6 Pagesprofession is to convert raw materials or chemicals into a more useful form for society. Sample workings of chemical engineers consist of nanotechnology and fuel cells. Production at a large scale is made possible by these specific engineers since they design, maintain, and improve the process. With chemical engineers reorganizing the structure of molecules, they design chemical processes that can alter raw materials. Paper mills, manufacturers of fertilizers, and tons of other kinds of firms will be lookingRead MoreThe Revolution Of Texas Revolution1550 Words   |  7 PagesHotEssays.blogspot.com provides free sample essays and essay examples on any topics and subjects. EssayLib.com essay writing service produces 100% custom essays, term papers research papers, written by quality essay writers only. The prices start from $11 per page. You can order a custom essay on Texas Revolution now! Get Custom Essay on Texas Revolution Posted by Webmaster at 10:44 AM Labels: example essay on Texas Revolution, free essays on Texas Revolution, sample essay on Texas Revolution, TexasRead MorePets are important members of the family. In more than 60% of households in the United States today1200 Words   |  5 PagesThey clean, and keep the animals safe. They bath, clean, and disinfect animal cages, sterilize surgical equipment and perform daily caretaking tasks such as feeding and weighing animals. They administer medications, collect blood, urine and tissue samples for testing, perform lab tests and monitor animals during surgery. Vet assistants also perform the important task of maintaining the information like charts and documents for daily care, according to Oubria Tronshaw Specializle in topics related toRead MoreMy Career Path to Become a Licensed Physical Therapist1009 Words   |  4 Pagesmake regarding the Graduate Record Examination, applying to graduate school, internships and work experience, and possibly specialization. I am hoping to gain pertinent information pertaining to all aspects of my future decisions. In Part I of my paper I will be researching specific graduate schools to gain a better understanding of specific requirements along with information about the Doctor of Physical Therapy program offered. I chose two graduate schools that I am interested in based on theirRead MoreSmart Vr : A Virtual Reality Environment For Mathematics, Engineering, And Science1854 Words   |  8 Pagesreality environment for mathematics, engineering, and science. We believe Ryerson Smart VR will not only help improve the quality of student life here at Ryerson, but also provide a new and unique sensation at the Digital Media Experience. Students in math, science, and engineering learn high-level concepts and ideas in class, but rarely get to see or experience those ideas for themselves. The labs being provided by Ryerson don’t always cover all the material covered in class, due to several factorsRead MoreCase Analysis : Xcelerate Education, A Small Medium Enterprise ( Sme ) Business Owned By Jasnoor Mann2847 Words   |  12 Pagesand there are no taxes on business profits. The service that is being offered is in the form of high quality group tutoring sessions for Preliminary HSC and HSC subjects. ‘Xcelerate Education’ specialises in Economics, Maths (General - Extension 2), Business Studies, Chemistry, Physics and English Advanced tutoring. This service will be provided by university students who have recently completed the HSC examinations with an exceptional TES score. These employees of ‘Xcelerate Education’, offer the bestRead MoreThe Contribution Of Statistics From Other Scien ces Over The Centuries1882 Words   |  8 Pagesreadily available, so they created their own theories and methods. These practical applications have since become crucial to modern statistics. Since there are too many prominent people that contributed to the field of statistics to fit into one paper, I will be focusing on a few remarkable men and woman. I picked these scientists because of their diverse range of principal research areas. By pulling from various fields, the range of practical applications are clearly exhibited. I have chosen to

Professional Developers Comprehend Software

Question: Discuss about the professional developers comprehend software? Answer: I have been working in the USA Technologies for nine months now, and it has been one of my best working experiences so far in my professional career. It has been a valuable learning experience for me regarding acquiring useful practical skills to apply in the particular field of my specialization. I have learned about various applications and software usages from my senior management and my fellow team members of the projects that I have been a part of. Apart from that, the flexible timings, excellent professional work environment as well as the ethical practices in the organization added positivity and inspiration to my job. Besides, I have been fortunate enough to have a very helpful and knowledgeable top management who have provided support and cooperated with me in every complex situation. My team leads have always extended their assistance and helped me learn new things that have significantly improved my professional working capabilities and skills. I have also faced challenges and concerns during my working career in this software company, more precisely, concerning learning new technologies to work on. Although it was challenging for me, I have managed to handle the challenges in an efficient manner because of the support and guidance that I have received from my seniors. Concisely, I have been part of a good working team where I have been able to learn and grow together and create some exceptional and unique pieces of work. Furthermore, working in this organization added more confidence in my professional ability; I have always been appropriately rewarded for my contribution and good performance. Bibliography Roehm, Tobias, et al. "How do professional developers comprehend software?."Proceedings of the 34th International Conference on Software Engineering. IEEE Press, 2012. Stevens, Matt, and Richard Norman. "Industry expectations of soft skills in IT graduates: a regional survey."Proceedings of the Australasian Computer Science Week Multiconference. ACM, 2016. Tsui, Frank, Orlando Karam, and Barbara Bernal.Essentials of software engineering. Jones Bartlett Publishers, 2013.

Independence Day of India free essay sample

India Independence Day In India, Independence Day is observed on the 15th August every year, because on the said day of 1947, India won her freedom from the British rule after about 200 years. It is a red-lettered day, on which the schools and govern ­ment and private offices remain closed. Early in the morning, the young students sing in chorus the national anthem in accompaniment of flute and drum marching together in processions in the streets. National flags are hoisted in the houses, schools, colleges, and offices. Teachers and leaders assemble in a public place to give their patriotic speeches to the people, promising to save the sovereignty and integrity of our vast country. The great sac ­rifice of great Indian leaders who dedicated their valuable lives for the cause-of the countrys freedom in the past, is reverently remembered. It is a great day for India. In Delhi Red Fort Parade Ground, millions of Indians from different parts of the coun ­try gather to listen to the annual speech of the Prime Minister. We will write a custom essay sample on Independence Day of India or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Many dignitaries at home and also from abroad attend the function. The tri-colour flag is unfurled by the Prime Minister with the national anthem sung vocally or played on musical instruments. A salute of 31 guns is fired, and from the sky, petals of red roses are showered from the army helicopters in the city streets. Large and coloured processions composed by the peo ­ple from different Indian States pass by the Red Fort in a dis ­ciplined manner. The charming march of the army personnels and also that of the school boys and girls who sing and dance as they march forward, are special attractions. It is, no doubt, a wonderful sight of true national spirit. Every Indian must take an oath on the Independence Day to remain loyal and patriotic and to save his beloved motherland from any outside attack or humiliation, even at the cost of his life. And we must also feel at heart that all the Indians are our brothers and sisters, and accordingly, we must love and respect them.

Paganism History Essays - Religion, Wicca, Mother Goddesses

Paganism History Over 25,000 years ago, our ancestors across the continent practiced an ancient form of religion known as paganism. During the Neolithic and Paleolithic time era, our ancestors were in awe of the great manifestations of nature. Due to lack of scientific thought, they were riddled with ignorance and superstition. Everything had a supernatural explanation. They associated each naturalistic phenomena with a type of god, inscribing inanimate objects with life -like characteristics .This practice is referred to as animism. Every element ,be it thunder ,rain or the sun ,was thought to be a god (or goddess) within it. Eventually their gods became an object of worship known as polytheism. Eventually many forms of polytheism evolved to what is known as paganism. Modern Paganism Now defined as :The worship of a god or goddess whose roots are in pre-Christian Western Europe. Modern paganism is alive and well today. It consists of many sub-divisions .These include ~Wicca ,druidism Santeria and many others. Wicca focuses on the worship of a god and goddess .In Wicca ,there is a plethora of pantheon of deities that one can choose from including: Greek, Norse ,roman etc...... Focusing on a Greek Wiccan tradition ,this will be describing the pagan festival of Hectare. The Festival of Hecate The festival of Hecate is celebrated between the 3rd and 4th Saturday of August. (which ever is closest to the new moon) It is in honor of the Greek goddess Hecate. She was first worshipped in ancient Greece -called the triple goddess of magic. She is often represented in triple form ; maiden (youth) ,mother (fertility) and crone (the wise woman). In ancient Rome ,she was known as trevia ,the cross road with three paths. Hecate is symbolized by the phases of the moon. Each attribute correlates with a particular phase of the moon. The waxing moon (maiden),the full moon (mother) and the new moon( crone). The Ceremony~ Upon arrival at the festival in Georgetown Delaware, everyone gathers for the lecture. This is to educate the newcomers as to what the ceremony entails. The ceremony is always rehearsed before it is performed. After the lecture ,there is a large potluck feast to keep everyone energized for the evenings festivities. The processional~ When the sun sets, the processional begins. With everyone in their appropriate magical attire,(consisting of a robe and jewelry) everyone lines up proceeds with the first phase. This is called consecration- each person is consecrated . This is done by covering the body in incense smoke and sprinkling of water. This is a purification process that cleanses the body of negative energy prior to the ritual. Next each person is permitted to enter the circle one by one. Once everyone is inside the circle, the next phase begins. Calling of the quarters~ At this point ,the high priest/priestess begins the calling of the quarters or summoning the elements. Each direction is marked by an altar and each is represented by an element. West =air, east=water , north=earth and south=fire. The high priest approaches each point ,says a chant and ends the chant with the phrase ""hail and welcome"". After the elements are called , the highpoint of the ritual begins ~ the invocation The Invocation~ The invocation is where the goddess is invited to attend the ceremony. The invitation is done through a series of chants . Ex: ""He Kau ,He Kau , He Kau"" Hecate trevia trimorphos Hecate queen of the moon and all her phases"" 3 X''s (Hek a ta) Next 3 women are chosen to represent Hecate ,each representing one of her aspects.(they are chosen prior to the ritual) The maiden is in white (purity) the mother in red (fertility) and crone in black(wisdom) These women remain in the circle. At this point the goddess speaks to the participants .Each one gives a brief message ,usually a blessing or advice. Once the crone has finished, each participant is invited to approach any of the three forms and speak to them. They may ask for advice ,offering or a boon. Once everyone has had their turn to speak with Hecate,the group becomes silent. The goddess is thanked and dismissed. Sometimes during a ritual a participant may feel a bit overwhelmed with the energy that has been raised. It is for this reason ,that the next phase ,called grounding takes place. This is done by simply placing the hands on the ground and releasing the energy. Once the grounding has been performed,it is time to close the quarters or dismiss the elements. Like the opening , the

Motivating the workforce

Internal Labour Markets/ Motivating the workforce Introduction Labor economics is an integral part of economics because it explains how the labor market functions and operates and its dynamics. The labor market is the market where workers and employees interact. This means that there are suppliers of labor and the people who need that labor.Advertising We will write a custom essay sample on Internal Labour Markets/ Motivating the workforce specifically for you for only $16.05 $11/page Learn More The suppliers in this case are the workers or employees and the people who demand the labor are the employers. Smith states that the principal agent relationship always occurs in the labor market where the principals entrust the agents with their businesses. (Smith, 2003 89) The principal in this case is the owner of the business and the agent is the manager who will manage the business on behalf of the owner Principal agent relationship The principal agent relationship can be defined as an arrangement or a contract between one person called a principal and the other called an agent to carry out some work. Currie and Wolpin state that a principal can be anyone who is legally able to carry out an act. Legally able means that they are mentally stable and they are not minors. An agent can be anyone who is qualified enough to comprehend the act that is being done by the principal. (Currie Wolpin, 2001 54) The principal agent relationship is also called the agency relationship. A contract that is signed by an agent on behalf of the principal is the contract of the principal and therefore the principal has the right to exercise any term that are in the contract for example the principal can give anyone authority to perform specific or general duties. The agency relationship can be either formal where there has to be a valid contract or some writing or informal where there is no valid contract or any kind of writing that is authorizing the agent to act on behalf of the principal. The agency relation ship must also be legal. This means that the agent and principal should engage in legal activities It is evident that in the principal agent relationship, the agent is acting on behalf of the principal. The agent therefore has to act under the authority of the principal. This relationship is based upon trust and loyalty from both sides but especially from the agent. The agent has to convince the principal that he will follow his instructions to the latter and that he will not be negligent when carrying out any of the works entrusted to him by the principal. Hirshleifer et al postulate that the relationship is also based on the assumption that the agent is to act ethically and therefore he will not take advantage of the task at hand for his personal gains or satisfaction. (Hirshleifer et al, 2005 169)The principal in turn should exude a lot of confidence in his agent and also act ethically. These bases will ensure that there is a strong bond, trust and understanding between the two p arties and hence a fruitful relationship.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The agent has an obligation to be truthful to the principal all the time and disclose all the necessary and important information that affect the business or the task at hand or any other factors that affect the agency relationship. The agent should also refrain from any activities that may harm the agency relationship The principal agent problem The principal agent problem always arises where there is misleading information or information that is not symmetrical or complete when a principal hires an agent. Both the principal and the agent will try to satisfy their needs and sometimes they can do that at the expense of one another and therefore a problem arises. Information that is not symmetrical is caused when the two parties both have different economic information that is used in economic decisions. The differences in economic information affect a lot of decisions that are made daily. The moral hazard problem is one of the causes of a principal agent problem. It occurs when one party gives misleading information to the other so that they can satisfy themselves. Jollands et al postulate that the moral hazard problem is related to adverse selection and information not being symmetrical. In all these cases, one party in the relationship always has access to more information than the other and he uses this information badly to benefit himself. (Jollands et al, 2007 78) The party is always insured from risk and therefore he can act unethically for example if the agent is insured, he has financial security and therefore he can engage in risky contracts that may be harmful to the business or to the task at hand. The principal agent relationship can arise among various parties for instance the manager and the shareholders. Shareholders entrust the managers to act on their b ehalf and manage for them their businesses. A problem will occur when the managers act unethically to satisfy their personal needs at the expense of the business or the shareholders’ wealth. Another principal agent relationship is between the insurer and the insured. An agent principal problem will arise when the insurer incase of a loss gives false information regarding the hazard that occurred so as to gain falsely. It may also arise when the insured does not take all the facts into account regarding a loss and therefore gives less compensation to the insurer. The principal agent problem can also be looked at in a different dimension. Surhone, Timpledon and Marseken state that in economics, the principal agent relationship occurs when one party who is the principal, motivates the other party who is the agent to act on his behalf. (Surhone, Timpledon Marseken 2009, 54)Advertising We will write a custom essay sample on Internal Labour Markets/ Motivating the workforc e specifically for you for only $16.05 $11/page Learn More The problem mostly arises when one party gains at the expense of another for example when the principal motivates or compensates the agent when he carries out certain activities that benefit the principal but are costly to him. Such problems occur when the contract between the principal and the agent was signed under inaccurate or incomplete information and therefore renders it vague or when the contract was signed under a lot of uncertainties and risks. Geetika et al state that in these cases, there is little information regarding the contract and the duties that are supposed to be performed or even the goals that are supposed to be satisfied and therefore they have to provide the agents with incentives and compensation packages to motivate them so that they can act ethically and in a way that the principals would like them to act so as to accomplish the tasks at hand and to enable the principals to gain. (Geetika et al, 2005 302) The principal therefore has to apply different methods in trying to motivate the agents but also benefiting their personal needs and accomplishing their goals and objectives for example the principal can change the way the task is carried out or the way to run the business so that even if the agents act in a way that they satisfy their personal goals, then the goals of the principal are also satisfied or if they make decisions or choices that benefit their self interests, these decisions and choices will also be the same as the decisions that the principal would have made or the choices that the principal would have taken Ways of motivating the agent to act ethically To get rid of the agency problem, the principal must motivate or compensate the agents so that they can act in a way that the principal would wish them to act. Principals can use the employment contracts to motivate or compensate the agents. According to Bolton and Dewatripont, the contracts in clude the ways in which the work is to be performed, the levels of performance required, the measure of that performance and the appraisal and compensation process. (Bolton Dewatripont, 2005 135) Contracts vary in nature because of the difference in the type of work being done and the difference in the nature of the relationship Principals can also use non financial compensation packages to compensate their agents. This involves motivation using other methods that do not involve money. This may include appraisal and recognition or provision of higher authority or the permission to engage in activities that may benefit the agent at a personal level. Every employer takes pride in their work and this is no exception for the agents. Smart states that introduction of performance related pay will therefore reduce the pride of the agent because it will be based more on economic terms between the agent and the principal and the principal will not appreciate the work of the agent. (Smart, 2 010 208)The principal should therefore avoid such methods of remunerationAdvertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The principal can also motivate the agent by improving the working conditions under which the agent is working. The principal should not put so many strict rules and he should allow the agent to be flexible when carrying out his duties and when making decisions that affect the business. Ways of solving the principal agent problem The principal can however undertake certain actions to try and solve the problems that arise from the principal agent relationship. First, the principal can give threats of firing the agent incase of any unethical actions by the agent or incase of any losses by the principal arising form the actions of the agent. McConnell, Brue and Macpherson state that these threats will enable the agent act ethically and in a manner that the principal may want them to act so as to avoid being fired and losing their jobs. (McConnell, Brue Macpherson, 2003 218) Secondly, the principal can take over the work that is being done by the agent, the business or the company and do it alone or give it to another person to do it. This will leave the agent jobless. Lane and Ersson postulate that threats of take over will ensure that the agent acts ethically or appropriately and provides all the information needed by the principals so that they can benefit the principals and ensure that they achieve their goals in due time. (Lane Ersson, 2000 174) The agent will try as much as possible to satisfy the needs of the principal so that they do no not lose their jobs when the principal takes over the business. Another way of solving the principal agent problem is by rewarding the agent. When an agent acts ethically and satisfies the needs and goals of the principal, the principal should reward him so that he can feel motivated and act in the same way always. When the agent is motivated they will always act rationally and ethically and will always aim at ensuring that the principals benefit from their actions Conclusion The principal agent relationship is very commo n and it has proven to work where there is trust and commitment between the two parties. Loyalty is also important in such a relationship and the terms of the contract should be well defined and stated to avoid any misunderstandings References Bolton, P Dewatripont, M. (2005) Contract theory. Massachusetts: MIT Press. Pp. 724 Currie, M. J Wolpin, I. K. (2001) Labor economics. New York: Routledge. Pp. 165 Geetika et al. (2008) Managerial economics. London: McGraw-Hill publishers. Pp. 538 Hirshleifer, J et al. (2005) Price theory and applications: decisions, markets, and information. Cambridge: Cambridge University Press. Pp. 614 Jollands, N et al. (2007) Mind the gap: quantifying principal-agent problems in energy efficiency. New York: OECD Publishing. Pp. 219 Lane, E. J Ersson, O. S. (2000) the new institutional politics: performance and outcomes. New York: Routledge. Pp. 329 McConnell, R. C. Brue, L. S Macpherson, A.D. (2003) Contemporary labor economics. London: McGraw-Hill. E d 6. Pp. 654 Smart, C.J. (2010) Higher Education: Handbook of Theory and Research. Canada: Springer. Pp. 569 Smith, W. S. (2003) Labor economics. New York: Routledge. Ed 2. pp. 448 Surhone, M. L. Timpledon, T. M Marseken, F. S (2009) Principal-agent Problem: Information Asymmetry, Profit Sharing, Performance Measurement, Efficiency Wages, Dual Labor Market, Time and Motion Study, Off-balance-sheet, Contract Theory, Agency. London: Betascript publishers. Pp. 128

Environmental Economics Essay Example | Topics and Well Written Essays - 1250 words

Environmental Economics - Essay Example It is the study of environmental policies and to see how well the businesses abide by these when striving for profits. The major and common costs that these companies levy are air pollution, noise pollution, toxic and solid waste in water harming the water quality and global warming. Since about a decade, these environmental hazards have kept increasing extremely rapidly and rampantly. Thus, there is a now a sense of urgency to get rid of these problems completely. However, this has become very difficult; millions of policies have been formulated by the government and various organizations, but is they still do not produce the desirable results. One another major issue that has been faced since many years is the 'carbon emission'. Coal is one of the biggest energy resource currently used; it accounts for 50% of the electricity produced in the United States. Today, fossil fuels are a source of 80% of the world's energy needs; coal accounts for 25%, natural gas 21%, petroleum oil 34%, nuclear 6.5%, hydro power 2.2%, and biomass and waste 11%. The resources that are environmental friendly such as geothermal, solar and wind are responsible for only a measly 0.4% of the overall demand in the world. The US alone produces 1.5 billion tons of carbon dioxide from coal-burning power plants. Also, it produces great amounts of nitrogen oxides, sulphur oxides, mercury emissions and other combustible gases when coal is burned. This makes it very clear how harmful the usage of coal is for our environment. The Massachusetts Institute of Technology conducted a study and made a report called 'The Future Coal' in which they examined all developing countries that try to alleviate global warming and their usage of coal. This report discusses the hazards of global warming and how countries should restrict the emission of carbon dioxide and other greenhouse gases. It also focuses on how coal remains and important and indispensable part of every country's production, how there is a need to control the carbon emissions and then how these countries need to take care of emissions yet make use of coal to meet urgent and large energy needs. However, at the same time, this reports deals with future technologies that can be used in place of coal to meet the goal of reduced coal emissions. The main reason why businesses and producers go for coal is that it is inexpensive and abundant. Coal can be used at only a cheap cost of $1 - $2 for each MMBtu compared to $6- $12 for gas and oil (The Future Coal, 2007). Also, coal mines are evenly distributed and spread and can be found everywhere, for example United States, China, India etc; except for only a few regions such as Persian Gulf, where instead are huge oil and gas reserves. The non-carbon emitting resources, mainly nuclear and renewable, are not available everywhere; thus, these areas still rely on coal despite all the policies and awareness of carbon hazards. The positive point of following this report is that it does not advocate certain policies that improve the environment; it diverts all its findings towards the technologies that can be used if these policies are actually followed by people. It is only natural to ask for an alternative if a certain act is prohibited; and that is exactly what The Future Coal is focusing on. This study focuses on technologies that