Executive Compensation As An Agency Problem Finance Essay - Free Essay Example

Sample details Pages: 6 Words: 1696 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? All modern organizations have one common feature that forms the major distinguishing factor between the management and the shareholders. In the developed countries, large corporations are actually composed of a distinct structure made up of the shareholders and management. In fact, the separation of management and ownership seems to have gained immense popularity during the start of twentieth century. Don’t waste time! Our writers will create an original "Executive Compensation As An Agency Problem Finance Essay" essay for you Create order As a result of the separation of corporate ownership and management, the corporate world has experienced unprecedented growth. On the other hand, separation of ownership and management has created an increase in conflict between the shareholders and the management. As a matter of fact, many academics and players in the world of business have been attracted to the conflict and even made attempts to propose diverse mechanisms of resolving them. The conflicting interest between the shareholders and the management has been commonly referred to as the agency problem. Motivation The motivation to research on executive compensation is brought about by the desire to maintain high levels of integrity and patriotism in the management while at the same time ensuring the maximization of stockholders value. Executive compensation is among the multivariate propositions made by different academics and people in the business world as a possible solution to the agency problem (Bebchuk Fried, 2003). As a tool for the resolution of agency problems, executive compensation embraces the creation of incentives to the management. The incentives are seen as a move towards motivating the management to act in favor of the shareholders. Research into executive compensation as a solution to the agency problems is crucial as it elaborates on the relevance of executive compensation as well as how it can be applied in solving the agency problems. The fact that management has the mandate to undertake diverse decisions that greatly affect the financial position of the organization mea ns that their role is very critical in the firm. As such, motivating the management is viewed as a way of ensuring that the interests of the shareholders are considered supreme by the management whenever decisions are being evaluated. Additionally, the selection of executive compensation as the research topic is due to the controversy that is often associated with compensation in organizations. Problem description In the modern world of business, there is always a separation of the ownership of the business and the management. In fact, the owners of the business- shareholders are no longer involved in the day to day management of the business. The main roles of the shareholders are to provide capital and elect the board during the AGM. Thereafter, the board appoints the management team to carry out the daily operations of the business. In such companies where the shareholders are not involved in management, managers possess substantial power and determine the course that the companies take. Means and Berle (1933) observed that when directors are in the office, they possess a free discretion in their management. In modern finance, discretion and the power of management has been defined to as agency problem (Balsam, 2002). The fear that the management may opt to use their managerial discretion to pursue selfish gains is the major reason for engaging in executive compensation. There are a number of activities into which the management may get involved into whose end results do not benefit the shareholders. For instance, empire building is an activity that has an impact of benefiting the managers pursuit of fame. Similarly, it is possible for some managers to hold excess cash instead of distributing it during the times when profitable investments are lacking. Moreover, some managers ensure that they strongly entrench their positions such that ousting them out of their offices is almost impossible. This is particularly when the performance of such managers is extremely poor (Bebchuk Fried, 2003). In consideration of executive compensation, fundamental conflicts of interest between the shareholders and the management are considered inexistent. Therefore, two major views have been considered in the process of resolving agency problems through executive compensation: approach on optimal power and approach on managerial power (Balsam, 2002). Most of the financial economists believe that executive compensation should be viewed through the approach on optimal contracts. According to the financial economists who subscribe to this approach, the arrangements yield partial solution to the inherent agency problem. In the approach, the board sets schemes through which the executive is compensated with the main goal of availing executive incentive towards maximization of shareholders wealth. Nevertheless, a number of flaws have been identified with the approach. In fact, the major problem has been identified as that there are inherent political limitations on the extent to which executive s can be treated generously. Therefore, such schemes on compensation do not seem high powered in an adequate manner (Jensen Murphy, 1990). The approach on managerial power is another way towards executive compensation. The approach focuses on how the agency problem and executive compensation can be linked together to yield better results in the maximization of shareholders wealth. The proponents of this approach are of the view that executive compensation does not only solve the agency problem but also that it is itself an agency problem. Through various research works, it has been realized that sometimes executive compensation does not result to the intended goal of providing incentives to the management. On the contrary, the compensational attempts have been seen to promote rent seeking by the management. In consideration of the pros and cons associated executive compensation, there is intense influence from managers on executive compensation. The design of an executive compensation package is highly influenced by the power possessed by the management (Balsam, 2002). Proponents of the contracting approach are particularly concerned with the extent to which the power of management determines executive compensation. Additionally, the power of management has been seen as likely to cause substantial pressure on the shareholders in terms of costs of executive compensation. The extra pay earned by the executives has an impact of distracting the intended incentive creation on the management and actually diluting it entirely. As such, the costs only affect the performance of the corporation without any positive change on the agency problem. Executive compensational arrangements can be influenced by the prevailing forces in market directed towards maximization of value as well as power of management. As a result, the executive compensational arrangements depart from favoring the managers only. However, the power of management approach holds that the extent of deviation from the maximization of value is extensive making executive compensation inadequate means of incentive creation. The view in the approach towards optimal contract is that reasonable extent of suffering is experienced by managers in regard to agency problem. Consequently, managers do not always act in such a way as to maximize the value of the shareholders (Jensen Murphy, 1990). This fact prompts the application diverse mechanism through which incentives can be created to the managers. There are various limitations as to the application of executive compensation as a way of incentive creation to the management. Besides the influence that managers have on the implementation of executive compensation arrangements and the existent of agency problem caused by the directors, it has been realized that sometimes the market forces do not provide sufficient assurance that the outcome of embracing optimal contracts will lead to successful management motivation into observing shareholders interests. Theoretically, it is hoped that different structures of the market have the ability to impose constraints between the decisions of the directors and the needs of the management (Jensen Murphy, 1990). In fact, most of the markets impose less stringent measures such that substantial deviations are experienced. For instance, in the case of takeovers, many firms seem somewhat hostile towards the acquirer. As a result, the acquirer faces immense challenges from the incumbent managemen t who often limits his full control of the firm. The hostility is to the detriment of the shareholders as the new acquirer provides better bids to the shareholder. As a result, shareholders lose substantial wealth. Formulation of the hypothesis The hypothesis for this research delves on the relationship between executive compensation and business performance towards the maximization of the shareholders wealth. In view of the underlying agency problems between the management and the shareholders, it is imperative to analyze the extent to which executive compensation can help in the resolution of the problem. Research methodology Practical proofs on the effectiveness of executive compensation in the resolution of the agency problem need to be established. This can be done through various methods such as questionnaires, interviews and observations. Both quantitative and qualitative information need to be collected. For instance, quantitative data can be collected through questionnaires whereby closed headed questionnaires are used to know the number of executives in support of executive compensation. Similarly, the number of shareholders in support of executive compensation can be obtained through questionnaires during an AGM. It is also possible to ascertain the percentage of shareholder value growth in a scenario with proper executive compensation by relating between different periods when executive compensation had not been implemented. Qualitative data can also be obtained through interviews to shareholders on the benefits of executive compensation. In this case, ARR Corp. is the relevant example for the s tudy. Clarification of concepts In this research paper, various terms and concepts have been used. Their meanings are as follows: Agency problem: refers to the conflicts that exist between shareholders and the management in balancing the interests of the stockholders and the selfish pursuits of the management (Balsam, 2002). The second concept is executive compensation which refers to the package of remuneration and benefits allowed to the managers in order to motivate them into undertaking decisions consistent with the interests of the shareholders. Shareholders are the owners of the business after having bought shares of the company through a stock exchange. The shares represent the unit of ownership in a public company. Framework The research is to be organized in form of chapters with elaborate sub-chapters. There will be a table of contents consisting of the various chapters to be covered in the full research. The list of items is as follows: Title page, Copyright, Approval Page, Dedication, Acknowledgements, Abstract, Table of contents, Tables list, Figures List, Body (Text), References, Appendices and Index.

Animal Testing Persuasive Essay - 1694 Words

About 19,500,000 animals in total are killed in scientific research every year. This means that about twenty percent of the animals tested on each year die, which may not seem like a large percentage; however, if it is taken into account that this happens to the same species in an endless cycle, the numbers can begin to build. Although, through this process of testing, many lifesaving medicines have been created for all types of animals including humans. So, the issue the world is experiencing right now is even if animal testing helps many people and animals, is it still ethical to use living creatures to do this. There are currently problems regarding this all around the globe, for example, the European Union recently banned testing†¦show more content†¦In addition, there are clinical trials which are tests run on human volunteers. Some groups that are on the supporting side of animal testing are Understanding Animal Research and Speaking of Research. In Understanding Anima l Research, there are people like Wendy Jerrett, the Chief Executive, who has been working in health communications for almost 30 years. One of their main arguments is that â€Å" while non-animal methods play an important part of biomedical research, they cannot replace all use of animals.† This statement does make sense, however, through research I have not found anything that cannot be altered to replace animal testing. Despite this, Speaking of Research brings up a good argument that can support the former one. People in Speaking of Research include Christine Archer, who is a registered veterinary technician. One of their arguments is that â€Å" The success of many animal rights groups’ campaigns depend heavily upon the poor public understanding of animal research, uncountered misrepresentations of scientists and their work, and exploitation of the misconceptions and negative perceptions that many people have of the use of animals in the biomedical and behavioral sciences.† So, by their way of thinking, all the negative opinions about animal experimentation are only because of misunderstandings and the uneducated public. Moving on to the creditability of these organizations, I questionShow MoreRelatedPersuasive essay against animal testing764 Words   |  4 Pagesï » ¿Persuasive Essay against Animal Testing Abraham Lincoln once said, â€Å"I am in favour of animal rights as well as human rights. That is the way of a whole human being.†Ã‚  I couldn’t agree more with this statement as I do not believe that animal testing is right and I am totally against it. One of the main reasons I am against animal testing is the fact that the animals don’t have a choice and are being forced to be tested, which can lead to them getting seriously ill or dying as a cause of theRead MorePersuasive Essay On Animal Testing748 Words   |  3 PagesAnimal Testing, what is it? On dictionary.com the definition for animal testing is, â€Å"noun; The use of non-human animals in research and development projects, esp. for purposes of determining the safety of substances such as foods or drugs† So what does that tell us? That Animal testing is okay, and a good thing for scientific research, right? Well in some cases, using lab rats is for a good cause, to test things out and see what’s cures what, but companies such as Loreal, L’Orà ©al, Maybelline, WindexRead MoreAnimal Testing Persuasive Essay706 Words   |  3 PagesThroughout history,  animal experimentation  has played an important role in leading to new discoveries and huma n benefits. However, what many people tend to forget are the millions of animals that are tortured or killed during the process of these painful, deadly experiments. Many people seem to misunderstand animal nature and the laboratory procedures and techniques that are executed on the animals. The procedures are cruel, unreliable, and harmful. Luckily there are more humane alternatives thatRead MorePersuasive Essay On Animal Testing1155 Words   |  5 PagesAnimal Testing Animal experiments happen all over the world, but are they necessary? Animals are tested for medical research as well as for cosmetics. Some say that these experiments are not painful, so they are justified. Where others believe that all these experiments are inhumane and nothing can justify torturing and killing innocent animals. 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What many people don’t understand is that these tests donà ¢â‚¬â„¢t just involve cute, little mice and a maze with a block of cheese at the finish line, it is long days of just sitting in a small cage with little food waiting to be chosen for the next terrifying and painful experiment. It is a harmful and cruel way ofRead MorePersuasive Essay On Animal Testing1521 Words   |  7 Pagesmillion animals are killed each year in the name of animal testing. Now as some might say that sacrifice is needed for the common good, it is safe to say that animal testing may be taking it over the top to get such test results for the common good. Animal testing has been a common practice for many years to get results and side effects for food, drugs, pesticides, beauty products, and just about everything one uses in an average day. But now, in the modern world where ethics and animals rightsRead MoreAnimal Testing. 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You are taken every once in a while to get your hair shaved off, and things rubbed into your skin that could potentially make your hair never grow back, or it burns you and makes

The Ruum vs. Zoo Compare and Contrast free essay sample

These two stories help us understand. â€Å"Zoo† is about a collection of creatures who are visiting Earth to be apart of a zoo exhibit, however the creatures believe they are visiting a zoo of humans, not being in a exhibit of one. â€Å"The Ruum† is about a guy named Jim who has been ordered to go back and get the H-9 Ruum they left behind on the third planet. All is well until Jim encounters the H-9. Jim is matches the search specifications and is now on the list to become apart of the Ruum’s collection of creatures. â€Å"Zoo† by Edward D.Hoch and â€Å"The Ruum† by Arthur Porges are both science fiction stories that tell about futuristic or past objects or the way people act. They are similar and different when it comes to setting and surprise endings. In both stories, setting plays an important role. In â€Å"The Rumm† the setting is in the past â€Å"and on Earth, it was the age of reptiles†. We will write a custom essay sample on The Ruum vs. Zoo Compare and Contrast or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The story takes place on the â€Å"third planet†. â€Å"Zoo† however takes place in the future and at a zoo, and several different planets, with modern technology but futuristic discoveries.Both stories had a surprise ending, in â€Å"The Ruum† the surprise ending was when Jim lost ten pounds during the chase while running from the ruum, which put him out of the ruum’s weight criteria. On the other hand in â€Å"Zoo† was when the creatures thought that the people of Earth were part of an exhibit at the zoo. â€Å"Zoo† by Edward D. Hoch and â€Å"The Ruum† by Arthur Porges are both science fictional stories that tell about the future or past and help us to understand wonders of the way things worked or behaved in either time periods.

Important Issues in Accounting-Free-Samples-Myassignmenthelp.com

Question: Write a report to the chairpersons of the Financial Reporting Council and the Australian Accounting Standards Board, commenting on the following argument: Attempts to bring about radical change through the introduction of a conceptual framework have failed. When it appeared as though SAC 4 would require firms to report a greater number of liabilities, lobbying began in earnest and business ensured that any innovation was quashed.As such, the best that can be hoped for from a conceptual framework is that it legitimises current practice, maintains existing social and economic status, and staves off public sector attempts to control accounting standard setting. Answer: Introduction This report is addressed to the accounting Standards Board and the Financial Reporting Council. The report gives an in depth analysis of various important issues in accounting and reporting of financial statements. The main issue discussed in the report is the failure to successfully change the conceptual framework. SAC 4 was expected to require companies and business organizations to report a greater number of liabilities in their financial reports but lobbying was done and the attempts failed. The current practice is expected to legitimize the ongoing practices and maintain social and economic status reporting. The paper is a discussion of the accounting issues on the proposed changes on the conceptual framework of the accounting. The changes in the conceptual framework were proposed by people outside the regulatory bodies. The changes in the conceptual framework proved to be very difficult and almost impossible due to the challenges that the change in the conceptual framework woul d have brought about (Camfferman, Zeff, 2015).SAC required firms to report more liabilities in the yearly financial statements by the companies but the amendments also failed. The conceptual framework of accounting is the set of policies and frameworks that govern the recording and reporting of accounting information. The Framework is constructed over a long period of time and it was not formed in one day. The framework is developed by continuously developing the accounting standards. The accounting standards are developed on a continuous basis depending on the challenges that are experienced in the accounting field of study (Hoggett, 2012). The following are the aims and objectives of the current framework: It seeks to ensure that the accounting standards have a consistent approach to help solve problems. It ensures that the accounting standards do not represent a series of ad hoc responses but are instead well thought and relevant policies that helps in improving the accounting The frameworks assist the International Accounting Standards Board in developing of coherent and consistent accounting approach The framework is an important guide for people preparing financial statements and presenting the same at the end of the accounting period. The conceptual framework helps accountants to understand the limitations and the scope of accounting in their profession. It also enables accountants and other users to understand their legal restriction and liability to the shareholders (Idowu, 2009). The contents of the conceptual framework depend on the aim of preparing financial statements. The primary aim of preparing the financial statements is to financial information about the organization in question and for use by various stakeholders in the organization such as shareholders, lenders, and employees of the company. The change of the conceptual framework means a change in the uses of the financial statements and their purpose. The new framework needed to address the term useful information since it is the basic in preparation of a new conceptual framework for Australian firms. The information to be included in the reports as per the conceptual framework must also be relevant. This means that the information obtained should be useful to the users and should help them to make better and more informed decisions (Saudagaran, 2009). The introduction of changes to the conceptual framework should also consider the nature of the firm which is preparing the financial statements. The current Framework identifies three important components of the balance sheet. These include the assets, liabilities, and equity of the business organization. The components of the statement of profit and loss include income and expenses. For the conceptual framework to be changed, it has to be proved overtime that problem currently exists in preparation of financial statements and that the current framework does not address the challenge. The challenge is investigated over time and to ensure that the problem is real and it has material effect on the financial reports. The Accounting standards board has to make sure that the identified challenge has a significant effect on the financial statements. The association has to identify how the proposed changes could affect the financial reports in different industries. The radical changes in the conceptual framework are not possible since the changes need to take time and they need to be reviewed and analyzed by various stakeholders. The stakeholders have to make contributions and suggestions to the proposed changes before the change is listed in the Financial Reporting Council and the Australian Accounting Standards Board. The changes in the conceptual framework can not be radical since the changes are influenced by different environmental conditions which may motivate the changes to be carried out. The framework of accounting of Australia needs to be compared with those of many other different countries to identify where changes need to be made and where improvements need to be made. The changes in the conceptual framework should not be influenced by the general public with no specific agenda. If any changes need to be made, they should be considered by the various stakeholders from different industries. Changes to the conceptual accounting framework must also be in line with the International Standards of Accounting. This is because the changes in these policies should not contradict the internationally recognized standards since this may make it difficult for international companies to report their financial information (GodfreyCchalmers, 2007). The radical changes in the conceptual framework are difficult to implement since the changes need to be considered over time and they have to be relevant to the financial statements. SAC 4 seeks to introduce a policy requiring firms to recognize a greater number of liabilities. The nature and purpose of the statement accounting concept is outlined in policy statement 5. It is prepared by the (ASSB) and the public Sector Accounting Standards Board(PSASB) (Hancock, Bazley Robinson, 2015).The primary objective of SAC 4 is to guide AASB and PSASB in developing and revising accounting standards in Australia. SAC 4 required entities to report a greater number of liabilities in their financial statements. A liability can be defined as a future sacrifice of economic benefit that an organization is currently obliged to perform to other entities. It is mostly a financial obligation owned to other organizations. The characteristics of a liability under SAC 4 are that the existence of a liability at law means the existence of a liability in financial reports (Hoggett, 2012). The existence of a present obligation means that the entity has a duty or responsibility to fulfill t he agreement by paying what they owe other entities. A liability should be recognized in the financial statements on only two conditions. The first one is when there is a high probability that the sacrifice if future economic benefits is required. This means that for a liability to be recognized in the financial statement there must be a sacrifice of future benefit for the organization. This is because, a liability is an obligation or a commitment to undertake a future activity or to pay someone or another entity an amount owed to it. The fulfillment of this obligation means that an organization will have to sacrifice either financially or otherwise to meet this legal obligation (Herz, 2016). It must have an effect on the economic aspect of the entity. The amount of the obligation should be measurable in a reliable manner. An item being recognized in the financial statements as a liability must be measurable in a reliable manner. This is because the obligation needs to be identified accurately for it to be recorded in the financial statements to ensure that the future economic sacrifice is recognized in an accurate manner. The requirement by SAC 4 also meant that entities need to disclose liabilities that are not disclosed in the financial statements. The entity has to list the notes section of the financial reports since the entity is aware of the obligation thou it has not been recognized yet. SAC 4 required organizations recording financial statements to recognize the existence of each and every liability that the organization had so long as it is measurable. The liability does not have to involve future sacrifice of economic benefit (Carmichael Graham, 2012). The proposed changes faced opposition and through intense lobbying, the innovations were quashed. Many of the entities were not willing to recognize a higher number of obligations in their financial statements. This is because recording a high number of obligations means that the liquidity if the busi ness reduces. The recognition of a higher number of liabilities means that the other important ratios considered by lender while making their assessment on the ability of a business organization to meet its current obligation are affected. Therefore the intense lobbying to quash the changes was due to the interest of the business in ensuring they recognized as few liabilities as possible. The attempts to change the conceptual framework have been futile and the best thing that can be done is for the framework to legally recognize the current practices in accounting. The public sector has resisted the changes in all manner possible and therefore it is important that the current accounting practices be recognized in the conceptual framework by ASSB (Caanz, 2017). This move will ensure that the practices are applied and the rule and they are regulated by the relevant accounting body and hence there is uniformity in recording of financial assets. The framework also should not interference with the current social and economic status. This is because, the attempts to interference with the social and economic status by changing the accounting principles would be resisted by the entities and it would have significant impact on the organization financially and economically (Saudagaran, 2009). The public sector should not be allowed to control the setting of standards of account ing. Accounting in the public sector is significantly different from accounting in the private sector. Control of standard setting by the public sector means that the some of the standards set may not be suitable for the private sector and may negatively affect reporting in this sector. The Australian Accounting Standards Board needs to be in control of the setting of accounting standards while taking into consideration the opinions of various other stakeholders. Conclusion The changes on the conceptual framework should not be radical and consideration has to be made before a decision to make changes in the conceptual framework. The Australian Accounting Standards Board together with the Financial Reporting Council needs to consult relevant stakeholders so that any relevant proposed changes can be implemented successfully. SAC 4 requirements of greater recognition of liabilities were met with a lot of resistance. Lobbying was done to quash the innovations and it was successful since most entities were opposed to the changes since they would have a significant effect on their reporting. Greater recognition of liabilities would mean increase in number and amount of total liabilities for the business which is undesirable for many entities. The conceptual framework needs to legitimize the current practices that have been used by various entities in different industries and maintain the social and economic status References Caanz, C. (2017). Financial reporting handbook 2017 australia. [s.l.], wiley australia. Carmichael, D. R., Graham, L. (2012). Accountants' handbook, financial accounting and general topics. Hoboken, john wiley sons. https://www.123library.org/book_details/?Id=58770. Camfferman, K., Zeff, S. A. (2015). Aiming for global accounting standards: The international accounting standards board, 2001-2011. Deegan, C. M. (2013). Financial accounting theory. North ryde, mcgraw-hill education. Http://public.eblib.com/choice/publicfullrecord.aspx?P=5047862. Godfrey, J. M., Chalmers, K. (2007). Globalisation of accounting standards. Cheltenham, uk, edward elgar. https://catalog.hathitrust.org/api/volumes/oclc/73993812.html. Hancock, P., Bazley, M. E., Robinson, P. (2015). Contemporary accounting: A strategic approach for users. Herz, r. H. (2016). More accounting changes: Financial reporting through the age of crisis and globalization. https://public.eblib.com/choice/publicfullrecord.aspx?P=4689664. Hoggett, J. (2012). Accounting. Milton, qld, john wiley and sons australia, ltd. Hopper, T. (2012). Handbook of accounting and development. Cheltenham, edward elgar. https://public.eblib.com/choice/publicfullrecord.aspx?P=981461. Idowu, S. O. (2009). Professionals perspectives of corporate social responsibility. Saudagaran, S. M. (2009). International accounting: A user perspective. Chicago, il, cch.

Social Isolation free essay sample

As a consequence, over half of all Americans have no close confidants or friends outside their immediate family. The situation today is much worse today than it was when similar information was gathered in 1985. Mary Shelley’s monster is intelligent and philosophical and he often thinks at great length about the nature of his own being. God in pity made man beautiful and alluring, after his own image; but my form is a filthy type of yours. (Shelley 154) When the creature describes his process of discovery describing how he learned both the spoken and written language from eavesdropping on the conversation on a family of rustics, looking at books, and his own creative reasoning. In this novel it is clear that the creature is not just intelligent, but is a genius! In fact, he is a being of incredible abilities. His transformation to the philosopher he was near the end of the novel takes place over a couple of months, not years. We will write a custom essay sample on Social Isolation or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page That is indeed much different from any average human being, thats for sure. In Mary Shelleys novel Victor Frankensteins creature suffered from Social Isolation in every way. Even though the monster is both physically and mentally superior to a human. While the Hollywood movie does indeed make him big and strong, like Shelley did in her novel, it also portrays him as a clumsy oaf as well. In the book, the creature is supernaturally fast and agile, able to outrun any other human being. He is able to climb up the side of a building with the ease of Peter Parker. Hollywood’s version basically just staggers and does not appear able to climb a set of stairs, let alone the side of a building. It is said that Victors creation evolves into a monster because of the absence of a strong father figure. I am malicious because I am miserable. You, my creator, would tear me to pieces, and triumph; remember that, and tell me why I should pity man more than he pities me? (Shelley 173) The creature’s father selfishly abandons him and this sets into motion a chain of events that transforms a being full of actual human potential into a cruel beast hell-bent on revenge. Some modern sociologists suggest this absence may be the best example of anti-social behavior. Little boys who grew up without the benefits of a father figure are more likely to fault their own paternal respo nsibilities, leaving many generations of fatherless sons who end up on the wrong side of the law. Evidence shows that social isolation is common among men who grew up with absentee dads. Sigmund Freud, known as the founding father of psychoanalysis famously suggested that we all secretly want to kill our old man. The did monster seek to destroy his father, not out of an Oedipal Complex Oedipus complex denotes the emotions and ideas that the mind keeps in the unconscious, via dynamic repression, that concentrates upon a childs desire to sexually possess the parent of the opposite sex. e. g. ales attracted to their mothers, whereas females are attracted to their fathers (Wikipedia) lust for his mother (because he had none), but there was a sexual aspect to the monster’s psychosis. I am alone, and miserable; man will not associate with me, but one as deformed and horrible as myself would not deny herself to me. (Shelley 171) Frankenstein had even begun to create a female companion for his creation, but then he destroys her, denying the monster’s sexual gratification, and bringing the father/son hostility to a climax.

How to job hunt without your boss finding out

How to job hunt without your boss finding out The job search can be a bit weird if you already have a  job- everyone does it, or no one would ever have a new job. But it has to be done in a top secret way, because you can’t let your boss know what’s going on. Even if he or she knows you’re unhappy, you don’t want this person knowing that you tried to leave- especially if you don’t get a new job right away. And even if you have a great, open relationship with your boss and she wants you to do what’s best for yourself, it’s still awkward. You don’t want to be marked as a flight risk†¦so how do you manage the process without tipping off the boss? Don’t check out from your day-to-day work.If you’re clearly not putting time and effort into your daily work, it’ll be a first sign that something is off. It’s not only bad practice in general to let your performance suffer, but it’s also a clear sign to your boss that you’re trying to get out the door, one way or another.Don’t use your boss as a reference.This one probably seems obvious, but you’d be amazed at how many people think they have to use their current boss as a reference. I once had a friend who listed her current boss’s contact information on a (stealth) job application, then freaked out when the new company actually called the current boss. If you need a reference but don’t want to tip your hand with your current boss, use a trusted colleague who is familiar with your work and can vouch for you.Don’t use your work computer.At this point, it’s safe to assume that Big Brother is always watching- and in this case that could include your boss. Don’t use your work computer to search for new jobs, work on your resume, or reach out to potential employers. There’s a good chance this runs afoul of your company’s computer usage rules, for one, and if you’re applying to competitor companies, it could be a legal issue as well. So make sure you’re doing your job hunt stuff on your own time, on your own devices.Don’t shout about your plans on social media.If you’re not Facebook friends with your boss or connected on LinkedIn, you might think it’s safe to talk about your job search or send out a â€Å"hire me!† blast. Don’t count on that â€Å"friends only† post to stay private. There’s nothing stopping one of your other contacts from letting it slip that you’re hunting, or from sending your boss a screenshot of your â€Å"I hate this place, get me out of here† rant. If you really don’t want your boss to know you’re looking elsewhere, don’t post anything on social media that you wouldn’t want him or her to read.Ideally, your boss won’t know about your job search until you have an offer in hand and a lovely resignation letter ready to go. But if you practice some basic di scretion, it doesn’t have to feel like a Cold War spy mission, either.

Oil Exploration And Development Essay Example | Topics and Well Written Essays - 2000 words

Oil Exploration And Development - Essay Example Political, legal and economic conditions need to be researched in depth before deciding whether or not to join forces with the oil industry. Ruritania, considered a developing country, has been under the same dictatorship for over thirty years and their internal political asylum is very stable. However, neighboring countries that have Ruritania land-locked from large bodies of water, are not so predictable. Known as ‘the axis of evil’ by several peaceful governments, Urbania and Translavia border both sides of Ruritania, blocking export opportunities for the inland country. Creative negotiations will have to take place with one or both of these countries in order to work out land rights if a pipeline were considered. Intense study of oil exploration is a first step in realizing the right conditions for an oil trap. The right source rock and reservoir rock entrapment can only be done by an experienced team of geologists. The project/asset lifecycle that normally includes Field Development Planning, Conceptual/Feasibility, FEED, Detailed Design, Procurement, Construction Support and Commissioning can run into the tens or hundreds of billions of Dollars. Actual costs depend on such factors as the location of possible oil reserves, how large the oil field is expected to be, how detailed the exploration information must be and the type and structure of the rock below the ground.