Wednesday, October 30, 2019
Practice Act - Essay Example One such event was during the hurricane Katrina. One specific thing that came out of this is the idea of the angels of mercy. This is a phenomenon which may be understood by some. What it actually means is that a person willingly and intentionally terminates the life of a person who is under his or her care. This is the exact thing that happened during the Hurricane Katrina evacuation process. In this case it was seen that the nurses who were involved in the process took the lives of the patients under their care by administering high dosages of drugs among them morphine with the intention of ending the lives of those patients under them. There are several motivating reasons as to why these nurses may have opted to carry out such an activity. One of the most probable among these is the aspect of mercy killing. This is where the nurses might have seen that the victims have suffered beyond help. The other reason may be for the purpose of being seen as a hero. This happens when the nurse kills the person in question and then goes ahead and puts an act that portrays his or her efforts to save them when in actual sense the person is dead. The Hurricane Katrina event brings to light some of the expectations of the Nursing Act in relation to the acts that were carried out by the nurses. One of the primary stipulations of the act is in relation to the protection of lives as opposed to terminating them. It is more than obvious that this particular expectation was flaunted and in the course of their activities they did not uphold what the law expects of them. At the same time they brought out a moral implication to what they did. The aspect of mercy killing comes out in this particular case. It is to be noted that the lives of individuals are not to be terminated willingly or intentionally by anybody regardless of the situation. This is whether the victim is for the idea or not. These nurses did not just break the law but
Monday, October 28, 2019
Word Mapping and Language Development Essay This paper aims to discuss word mapping processes during the child development, explore the concepts of Fast and Slow mapping, discuss the application and acquisition of word associations and definitions in the context of word mapping, and conclude by demonstrating that the process of elaboration through which childrens meanings of words grow to include categorical semantic relations between words requires slow mapping. ? Fast Mapping For a child being inundated with new vocabulary from moment to moment, clues to any one particular words meaning may be few and far between, yet somehow a child manages to take these limited exposures to new words, derive meaning from them, and maintain representations of them for future use. Carey and Bartlett (1978) have termed this speedy process of inferring relatively correct and complete initial meanings of novel words given a limited number of exposures to the words fast mapping (Behrend, Scofield, Kleinknecht, 2001). It is widely assumed that children must possess an innate mechanism of specialized constraints specific to word learning to account for their precocious abilities to infer novel word meanings (Deak Wagner, 2003, p. 318), and fast mapping is the label applied to this system (Behrend et al. , 2001). Fast mapping was first demonstrated in an experiment done by Carey and Bartlett (1978), in which 14 children, ages three to four years old, were initially presented with a novel color word in a neutral context without first being explicitly taught its meaning, and later tested on their knowledge of the new term. All of the children had begun mapping color words to corresponding colors, and 13 of the 14 children were able to comprehend and generate six to eleven names for corresponding colors. The children were therefore familiar with the property and concept of color, which allowed the researchers to see how learning a new color would restructure the childs existing lexical and conceptual color domains (Carey, 1978, p. 271). Prior to the introduction of the children to the novel color word, each child received a production test in which he was asked to name the color of each of a number of different colored chips including an olive colored one. Most children called the olive color green, while others called it brown, but none of the children referred to the olive chip as olive. Carey and Bartlett (1978) chose to introduce the children to the novel color olive (a color the children were unfamiliar with), but instead of referring to it as olive (a word that some children might be familiar with) they chose to call the olive color chromium. The researchers painted one cup and one tray in the childrens nursery school classroom olive, while an identical cup remained red, and an identical tray remained blue. The researchers asked the childrens teacher to introduce the new color word individually to each child in a normal everyday context, such as preparing for snack time. The teacher avoided explicitly presenting the new color word either by asking the child to Bring me the chromium tray, not the blue one, the chromium one, or to Bring me the chromium cup, not the red one, the chromium one (Carey, 1978, p. 271). The phrase not the blue/red one provided enough information for the child to bring the correct tray or cup. As a result, the child was implicitly provided with lexical, syntactic, and contextual cues adequate to the full mapping (Carey, 1978, p. 272) of chromium, while not being forced to rely on the new color word to provide any additional information necessary for the completion of the task. All except one of the children chose the correct tray/cup upon first exposure to the new word. And even though they did not need to rely on the new word to make the correct choice, the majority of the children attended to the fact that they had just heard a new word, and either repeated it aloud or sought approval for the selection they had just made. One week later the children took part in a second teaching task in which a group of six different colors (including olive) was presented to each child, and the children were each asked to map these different colors to their specific corresponding color words (including chromium). This task had been designed to serve as a comprehension task in determining whether or not the children had learned to correctly map the color name chromium to the olive color. However, since olive was the only color for which the children had not previously demonstrated having a name, and since a control group (with no previous exposure to the olive/chromium mapping) performed the task at the same level as the experimental group, the researchers determined that the task was not truly a comprehension task, but rather another teaching task. The children therefore experienced two teaching tasks prior to being tested. Five weeks after the second teaching task, the children were given a second production test just like the one they received prior to the introducing event. However, unlike the first production test, in which the majority of the children called the olive colored chip either green or brown, eight of the fourteen children now either said that they did not know what color name to use to refer to the chip or began referring to the olive chip using one of the color names that they knew but had not mapped stably to any one particular color. Fast mapping is evident in that after only two brief exposures to the chromium color word/olive color pairing, the child had learned and retained for over a month that olive is not called green; in searching his lexicon for a name to call it, he found another color word with no stable referent which was more highly accessible than the new word chromium. Thus for these eight children at least, the process of restructuring the conceptual and lexical domains had already begun (Carey, 1978, p. 273). The children had demonstrated their ability to infer meaning (as to which color the word chromium referred to) by relying solely on the situation and the context in which they encountered the word. In the previous example the childrenÃ¢â¬â¢s retention would be limited- although not inhibited entirely- if exposed to a great variety of colors that had never been introduced to them before. This assertion illustrates the importance of scope to proper establishment of the context. Studies have found that as the factors increase in number or property, subjects of all ages are more likely to disorient and produce ambiguous definitions (Patson, 2010). Precise, mutually exclusive terms are the most conducive to a clear and complete understanding of a word. A study examined the potentiality of mutual exclusivity by first asking if the part pointed to was the trachea and then further challenging the student by requiring them to specify whether the whole area or one specific part was the trachea. When the subject area is previously known it is normal for children to favor an inclusive definition, i. e. accepting craniofacial instead of accepting cranial and facial as two, separate, specific, mutually-exclusive terminologies (Hansen, 2009). The correction of such errors is atypical to fast mapping, where the concept is simply understood. Fast mapping provides a seemingly quick and efficient way for children to initially acquire correct partial meanings that are specific to the contexts in which new words are heard. However, acquiring a complete definition for any one word generally requires the integration of a number of partial mappings derived from specific encounters with the word in everyday life. Fast mapping is merely the beginning of a longer more gradual elaboration and reorganization process called slow mapping that results in a more complete definition (Carey, 1978; Johnson Anglin, 1995; McGregor, Friedman, Reilly, Newman, 2002). Slow Mapping Slow mapping is a prolonged period during which the child must hold a fragile new representation in lexical memory, distinguish it from many other fragile representations, continue to hypothesize about the meaning of the word, and update the representation as a result of those hypotheses (McGregor et al, 2002, p. 332). The partial meanings of words acquired during fast mapping are retained in memory while meanings derived from new encounters with words provide additional information and allow connections both between and within new and existing knowledge to be created, eliminated, and reworked. Slow mapping is the term applied to this process in which information provided through both old and new encounters with words is slowly integrated and evolves into increasingly accurate and complete definitions. Whereas fast mapping has been experimentally captured (e. g. Carey Bartlett, 1978), and shown to be replicable (Deak Wagner, 2003, p. 318), the protracted timeline and more elusive nature of slow mapping have made it difficult to pinpoint, study, and understand the process. It appears that much speculation surrounds the true nature of slow mapping. Johnson and Anglin (1995) comment this elaboration process is not yet well understood, but it appears that children somehow develop additional meaning relations among the new word and others within the same semantic field and increasingly incorporate contextual restrictions, distributional properties, and syntactic privileges of occurrence (p. 614). Carey (1978) admits, I have gone much further than available data license (p. 292) in summarizing her hypothesis on the nature of slow mapping following a description of her fast mapping study. Deak and Wagner (2003) attempted to access the process of slow mapping in the learning of categorical semantic relations between words by introducing children aged four to seven years old to made-up words with invented meanings and semantic relationships to one another (introduced as an alien language) and later testing their comprehension and production of these new words. Children were taught basic categorical semantic relations of exclusion (no overlap between word referents), inclusion (referents of one label are a subset of the referents of another label), and overlap (the sets of referents of two labels intersect) during two separate play sessions in which each of four labels for newly contrived categories were presented (along with defining information) a minimum of twenty times. The semantic relations were either explicitly expressed or implicitly derived by the children during the play sessions. The older children of the group (six- and seven-year-olds) were able to learn more semantic relations and word definitions than the younger children (four- and five-year-olds), and exclusion was the categorical semantic relation most readily learned in both age groups. The principle finding of the study was that although all of the children were able to learn new categorical semantic relations between words equally well whether the relations were explicitly stated or implicitly derived, the children were not able to fast map these categorical semantic relations as they were able to do with basic word meanings. Whereas children were able to infer relatively correct meanings of the novel words almost immediately, for example, they could correctly point out exemplars, they were unable to fast map categorical semantic relations even when these relations were explicitly stated. Deak and Wagner (2003) conclude, when word learning is measured at a surface level, children show a grasp of new words, but this grasp is weak. It is unlikely to include knowledge of meaning relations, or incorporation into a differentiated semantic network, even after many unambiguous exposures to the new words (p. 323). Thus, it appears that fast mapping describes childrens ability to quickly associate words to referents, but does not capture the process of elaboration through which childrens meanings of words grow to include categorical semantic relations between words. Slow mapping is the route through which the incomplete initial word meanings obtained through fast mapping expand to include more information about the meanings of words including semantic relations between words. Penno, Wilkinson, and Moore (2002) have also attempted to access the process of slow mapping, albeit using a different procedure, by presenting children aged five to eight years old with new words through the context of storybook reading. Children were read a storybook once a week for three consecutive weeks in small groups, and were given a multiple-choice vocabulary test both prior to the first reading and after the last reading. The multiple-choice vocabulary test included 15 words present in the storybook that were assumed to be unknown to the children. In addition, following each reading of the storybook, the children were asked to complete a retelling task in which they retold the story they had just heard to the best of their ability to the researcher. After the entire process had been completed for the first storybook, children were read a second storybook following the same procedure. The children received an explanation for each of the fifteen new words (every time one of the words was encountered) during every reading of one of the two storybooks. For the remaining storybook, no explanation was supplied for unknown words. The main objective of this study was to examine the effects of repeated exposure to a story and the additive effects of explanation of the meaning of target words on students vocabulary (Penno et al. , 2002, p. 23). Both repeated exposure and explanation of meaning were indeed significant contributors to vocabulary growth. The process of slow mapping was displayed through the linear improvement in the accuracy of use of the target words across the three retellings of the stories (Penno et al. , 2002, p. 31). After being read a storybook for the first time, the children were able to retell the story in a manner that demonstrated their fast mapping ability in that they were able to provide some indication of a basic understanding of the new words meanings. However, the second and third readings and retellings of a storybook revealed the slow mapping process, as the children used the new words with ever increasing accuracy through each subsequent storybook retelling. Accuracy and depth of word knowledge was measured incrementally through a coding system containing six categories ranging from category zero (indicating no knowledge or use of the target word) to category five (indicating generalized knowledge of the target word) (Penno et al. , 2002, p. 26). For example, the coding system might determine a childs accuracy and depth of word knowledge as progressing from category two (Developing knowledge: the target word is used, but inappropriately) at the first storybook retelling, to category three (Synonym: a synonymous phrase or word is used for the target word) at the second storybook, up to category four (Accurate knowledge: the target word is used accurately and more frequently than a synonym) by the third storybook retelling (Penno et al. , 2002, p. 26). Children also benefited from receiving explanations for unknown words, displaying greater gains in vocabulary when provided with explanations than when not, suggesting that the explanation may have provided useful experience with the meaning of the unknown words. One of the challenges of word mapping research area is finding word knowledge assessment methods that go beyond measures of childrens ability to identify the correct referent of a word or to use a word in an appropriate context. In 2009 the effect of the cultural, linguistic differences between mainstream English and African American English was measured. An equal number of African American English speakers and mainstream (mostly Caucasian, Hispanic, and African American) respondents were given a series of syntactical questions. This result was that native speakers of English who were African American were predisposed to have more difficulty with the grammatical structure of formal English (Johnson, 2009). In addition to the methods described in the previous three studies, childrens word definitions may serve as a source of information on the process of mapping (Hughes, Woodcock, Funnell, 2005; Johnson Anglin, 1995; McGregor et al, 2002). Childrens word definitions have also been found to change with age. These changes may reflect, in part, increased understanding of the words meanings. Another source of information on word mapping may be childrens word associations. Word Definitions Word learning, commencing at around age of one year, progresses at the rate of approximately ten new words every day (Bloom, 2000), or about one per every waking hour (Carey, 1978). Werner and Kaplan (1950) describe the acquisition of the meanings of words as occurring in two ways. One way a child learns a word is by explicit reference either verbal or objective (p. 3), in which a word is verbally defined or an object is directly named for the child. The second way a child learns a word is through implicit or contextual reference (p. 3), in which a word is inferred from the context of a conversation. Up until around two years of age, a child may learn a great many words through explicit reference, as adults will often repeat common phrases and names of objects and provide definitions for unknown words in an effort to teach a child new vocabulary (Carey, 1978; Werner Kaplan, 1950). However, as children grow older, they receive this vocabulary coaching less and less and they must rely primarily on implicit or contextual reference to acquire the majority of vocabulary. Children learn the majority of their words from hearing how others use them in day-to-day life. In doing so, they must rely solely on the linguistic context in which the word occurs and the situation in which it is used (Carey, 1978, p. 265) to derive meaning for new words. Researchers recognize the ability to produce quality word definitions as a metalinguistic skill (Watson, 1985), as individuals must not only consider their knowledge of the to-be-defined word and determine what characteristics should be included in the definition but they should also know how to organize information into conventional definitional form (Skwarchuk Anglin, 1997, p. 298). An individuals mastery of the form and content of word definitions is imperative in producing quality definitions (Watson, 1985), and there are a number of well-established trends concerning the development of both. The definitions provided by young (roughly preschool) children tend to be comprised primarily of functional information, e. g. a knife is to cut with (Litowitz, 1977), but they also include (to a lesser degree) perceptual features, e. g. a kitten is furry (Hughes et al. , 2005). Young childrens definitions also tend to include information that is personally relevant, such as I have a friendly rabbit named Hoppy (Watson, 1985) and are often concrete, simple, and context bound (Skwarchuk Anglin, 1997). As a child grows older, a transition occurs in the content included in a definition, suggesting a conceptual shift from the individually experienced to the socially shared (Litowitz, 1977, p. 289), and definitions become more abstract, complex, and precise in nature (Skwarchuk Anglin, 1997). However, the accurate acquisition of a definition is dependent on the individual skills of the child and of the clarity of the context in which the new conceptual definition is presented (Nicoladis, 2010). Namely, the listener must recognize the probable intention of the statement through the interpretation of nonverbal cues. This is done through the rapid analysis of the word usage, the verbal tone, the context, and the previous experiences of the listener (de Ruiter, 2010). A childÃ¢â¬â¢s inferential attributions to a word are also built upon their personal skills. In the Sally Ann task, the children are asked to conceptualize the thoughts of others and are measured by their success at that task, their ability to concede that the otherÃ¢â¬â¢s thoughts are not necessarily correct, and to form a hypothetical, mental frame of context through which to examine the probable thoughts and actions which inform that personÃ¢â¬â¢s decisions (Jary, 2010). The ability to successful integrate the representational theory of mind tested by the Sally Ann task has been proven to aid in the conceptualization of both grammatical structure and definition (Jary, 2010). Both form and content develop and change over time, but these changes do not necessarily occur simultaneously, and children are generally able to express semantic content more successfully than they are able to use correct Aristotelian definitional form (Johnson Anglin, 1995). Since form and content of childrens definitions change as their knowledge of and experience with words increases it seems logical that studying the elaboration and refinement of word definitions in children over time would allow us to better understand the process of slow mapping (McGregor, 2002). The interpretations of the ambiguities of language, such as the use of the finite Ã¢â¬Å"thatÃ¢â¬ for an infinite pool of possible contexts, are key contributors to the accuracy of slow mapping in the inferred or abstract definition of words (Jary, 2010). In a study designed to capture the slow mapping process of word meaning development, McGregor et al. (2002) offer some evidence that childrens definitions may indeed provide an accurate representation of the semantic knowledge possessed by a child. McGregor et al. have shown that a childs abilities to provide a name for and draw a picture of each of a series of objects correspond reliably with one another and are also consistent with a childs ability to provide definitions for those objects. The study suggests that the three tasks (naming, drawing, and defining) access a common semantic representation and therefore validates the use of the defining task in providing a window into the slow mapping of word meaning. Word Associations Childrens word associations also change as word knowledge changes over time. Consequently, studying childrens word associations may provide an additional opportunity to capture the slow mapping process of word meaning development. Petrey (1977) draws attention to the development of word associations as shifting from episodic (or schematic) to semantic (or taxonomic) as childrens word knowledge grows. She comments, Whereas adults responses are grouped primarily by semantic memory of words internal content, childrens responses display mainly episodic memories of external context (p. 69). For example, if the stimulus word were rabbit, a child is likely to provide an episodic response like carrot, and an adult is more likely to provide a semantic response like squirrel. Petreys research suggested that the shift from episodic to semantic association responses occurs by around third grade. Researchers have also attempted to explain changing word associations as reflecting a syntagmatic-paradigmatic shift. Syntagmatic refers to words being syntactically related, that is, likely to occur together in the same sentence, like a verb response to a noun, whereas paradigmatic refers to words being in the same syntactic class, like a noun response to a noun (Nelson, 1977). This description has proven to be less well supported than the episodic-semantic (or schematic-taxonomic) shift. Another explanation refers to the cultural influences of the childÃ¢â¬â¢s caretaker(s). Because as the child ages there is less need and ability to define the abstract concepts, there is an increased reliance on word attribution (de Ruiter, 2010). Bilingual children favor the grammatical structure and the customary usage of their stronger language (Nicoladis, 2010). In Blewitt and Toppinos study, superordinate responses in the word association task became increasingly frequent with age (as is the case in word definition tasks), suggesting that the word association task may indeed be a useful tool to implement in future work aimed at capturing the slow-mapping process. The increasing use of superordinate terms provided both in the word definition task and the word association task suggest that the two tasks may be measuring the common underlying process of elaboration and completion of word meaning over time that is slow mapping. Summary Conventional estimates suggest that by age 17 the vocabulary of an average English-speaking individual comprises more than 60,000 words (Bloom, 2000). In order for this monumental task to be achieved, word learning, commencing at around age of one year, must progress at the rate of approximately ten new words every day (Bloom, 2000), or about one per every waking hour (Carey, 1978). Werner and Kaplan (1950) describe the acquisition of the meanings of words as occurring in two ways. One way a child learns a word is by explicit reference either verbal or objective (p. 3), in which a word is verbally defined or an object is directly named for the child. The second way a child learns a word is through implicit or contextual reference (p.3), in which a word is inferred from the context of a conversation. Up until around two years of age, a child may learn a great many words through explicit reference, as adults will often repeat common phrases and names of objects and provide definitions for unknown words in an effort to teach a child new vocabulary (Carey, 1978; Werner Kaplan, 1950). These two methods for accessing developmental change in childrens word knowledge have both been found to change with increasing age and understanding of words, and appear to provide access to slow mapping in children. In general, knowledge about familiar words is slowly acquired. Children both increase their understanding of the semantic relations among words, and learn about the details of the objects labeled by the words. Children are unable to fast map categorical semantic relations even when these relations were explicitly stated. Conclusively, the process of elaboration through which childrens meanings of words grow to include categorical semantic relations between words requires slow mapping. The ability children possess to infer initial meanings for novel words given a limited number of exposures to the words fast mapping. Fast mapping provides a seemingly quick and efficient way for children to acquire initial meanings of novel words, but the meanings children gain through fast mapping are often incomplete, especially requiring a longer more gradual elaboration and reorganization process called slow mapping in order to become complete definitions. Slow mapping allows the connections both between and within new and existing knowledge to be created, eliminated, and reworked, as increasingly complete and accurate definitions evolve. Slow mapping, a much slower and more elusive process than fast mapping, has not been experimentally captured, and much speculation continues to surround its true nature. Attempts to access slow mapping by researchers have provided some insight into the nature of that process. However, research studies have not accessed childrens word understanding beyond an initial, superficial level. References Behrend, D. A. , Scofield, J. , Kleinknecht, E. E. (2001). Beyond fast mapping: Young childrens extensions of novel words and novel facts. Developmental Psychology, 37, 698-705. Blewitt, P. , Toppino, T. C. (1991). The development of taxonomic structure in lexical memory. Journal of Experimental Child Psychology, 51, 296-319. Bloom, P. (2000). How children learn the meanings of words. Cambridge, MA: MIT Press. Carey, S. Bartlett, E. (1978). Acquiring a single new word. Papers and Reports on Child Language Development, 15, 17-29. Carey, S. (1978). The child as word learner. In M. Halle, J. Bresnan, G. A. Miller (Eds. ), Linguistic theory and psychological reality (pp. 264-297). Cambridge, MA: MIT Press. de Ruiter, J. , Noordzij, M. , Newman-Norlund, S., Newman-Norlund, R. , Hagoort, P. , Levinson, S. , et al. (2010). Exploring the cognitive infrastructure of communication. Interaction Studies, 11(1), 51-77. doi:10. 1075/is. 11. 1. 05rui. Deak, G. O. , Wagner, J. H. (2003). Slow mapping in childrens learning of semantic relations. Proceedings of the Annual Conference of the Cognitive Science Society, 25, 318-323. Hansen, M. , Markman, E. (2009). Childrens use of mutual exclusivity to learn labels for parts of objects. Developmental Psychology, 45(2), 592-596. doi:10. 1037/a0014838. Hughes, D. , Woodcock, J., Funnell, E. (2005). Conceptions of objects across categories: Childhood patterns resemble those of adults. British Journal of Psychology, 96, 1-19. Jary, M. (2010). Assertion and false-belief attribution. Pragmatics Cognition, 18(1), 17-39. doi:10. 1075/pc. 18. 1. 02jar. Johnson, C. J. , Anglin, J. M. (1995). Qualitative developments in the content and form of childrens definitions. Journal of Speech and Hearing Research, 38, 612-629. Johnson, V. , de Villiers, J. (2009). Syntactic Frames in Fast Mapping Verbs: Effect of Age, Dialect, and Clinical Status. Journal of Speech, Language Hearing Research, 52(3), 610-622. Retrieved from Academic Search Complete database. Litowitz, B. (1977). Learning to make definitions. The Journal of Child Language, 4, 289-304. McGregor, K. K. , Friedman, R. M. , Reilly, R. M. , Newman, R. M. (2002). Semantic representation and naming in young children. Journal of Speech, Language, and Hearing Research, 45, 332-346. Nelson, K. (1977). The syntagmatic-paradigmatic shift revisited. A review of research and theory. Psychological Bulletin, 84, 93-116. Nicoladis, E. , Rose, A. , Foursha-Stevenson, C. (2010). Thinking for speaking and cross-linguistic transfer in preschool bilingual children. International Journal of Bilingual Education Bilingualism, 13(3), 345-370. doi:10. 1080/13670050903243043. Patson, N. , Warren, T. (2010). Evidence for Distributivity Effects in Comprehension. Journal of Experimental Psychology / Learning, Memory Cognition, 36(3), 782-789. doi:10. 1037/a0018783. Penno, J. F. , Wilkinson, I. A. G. , Moore, D. W. (2002). Vocabulary acquisition from teacher explanation and repeated listening to stories: Do they overcome the matthew effect? Journal of Educational Psychology, 94, 23-33. Petrey, S. (1977). Word associations and the development of lexical memory. Cognition, 5, 57-71. Skwarchuk, S. , Anglin, J. M. (1997). Expression of superordinates in childrens word definitions. Journal of Educational Psychology, 89, 298-308. Watson, R. (1985). Towards a theory of definition. Journal of Child Language, 12, 181-197. Werner, H. , Kaplan, E. (1950). The acquisition of word meanings: A developmental study. Monographs of the Society for Research in Child Development, 15(1, Serial No. 51).
Saturday, October 26, 2019
Methods of Social Investigation Emma Woodmansee 'Describe how you would plan and undertake an investigation into why some of this College's students do not complete their degree courses.' (You have been given only 100 to finance the study; and one term's sabbatical.) Define the variables in the given title After a Research Statement has been formulated it is very important that the researcher defines any variables within it. A variable is any word whose meaning may be ambiguous or which could have several different meanings. This is a crucial stage in the planning process as a vague title renders any results at the end of the research without true meaning. In this case, the Research Statement is the given title Ã¢â¬ËDescribe how you would plan and undertake an investigation into why some of this College's students do not complete their degree courses.' Within this Research Statement there are several variables : Ã¢â¬Ëcollege's', Ã¢â¬Ëstudents', Ã¢â¬Ëcomplete' and Ã¢â¬Ëdegree courses'. These variables will be defined as follows: `College's' We will take this to mean students at Royal Holloway and Bedford New College, University of London. `Students' Undergraduates on a first degree (excluding post graduates and so on). `Complete' Graduate `Degree courses' The course for which the student originally registered. By defining the variables above there can be no confusion as to the meaning of the Research Statement. This process also helps the researcher to focus on the group of people that he wishes to study. Decide on the purpose of the research Having defined the variables in the Research Statement, the researcher now needs to focus his attention on the purpose of the research, and consequently lay down the Research Objectives. This part of the planning process allows the researcher time to consider what he hopes to achieve from the research and ensures that the research represents his objectives. The purpose of our research is to identify the reasons for students failing to complete the degree course for which they were originally admitted (variables already identified). The results of the research would allow the college to take action to encourage students to continue their studies and could even be used to aid the selection process and perhaps prevent problems from the outset. This is the final purpose of the research. Who is to be studied The researcher needs to identify the group of people upon which to base the study. The process is made easier by the fact that we have already defined the variables in the Research Statement. The research group has been thus so far defined as those students of Royal Holloway and Bedford New College, University of London who did not graduate from the first degree course for which they
Thursday, October 24, 2019
Joint Stock Company Company A company is an artificial person created by law, having a separate legal entity, with a perpetual succession and a common seal. It is an association of individuals for the purpose of earning profit. It has a capital divided into a number of shares, of which each member possesses one or more shares and which are transferable by its owners. Joint Stock Company has been defined by many eminent authors, jurists and institutions. Some of these definitions are given below Ã¢â¬â According to L. H.Haney Ã¢â¬â Ã¢â¬Å"A company is an artificial person created by law, having a separate legal entity, with a perpetual succession and a common seal. Ã¢â¬ According to Company Act 1994 Ã¢â¬â Ã¢â¬Å"Company means a company formed and registered under this Act or any existing company. Ã¢â¬ [Section 2(1. c)] According to Chief Justice Marshall Ã¢â¬â Ã¢â¬Å"A company is an artificial being invisible, intangible and existing only in the eyes of law. Ã¢â¬ T he system of joint stock organization is very useful for large undertakings for which large capital is required.It is an incorporated association created by law, having distinctive name, a common seal, perpetual succession, limited liability etc. formed to carry on business for profit. Characteristics of Joint Stock Company The most distinguishing characteristics of a joint stock company can be stated as follows Ã¢â¬â 1. Incorporated association : A company is an incorporated association. It comes into existence only after registration under the Companies Act. 2. Voluntary association : A company is an association of many persons on a voluntary basis. So, a company is formed by the choice and consent of the members. . Artificial legal person : A company has a legal personality and as such it is regarded by law as an artificial legal person. A company has the right to acquire and dispose of the property. 4. Separate legal entity : A company has a legal entity distinct from its mem bers. It has an independent existence. 5. Common seal : The common seal with the name of the company engraved on it, is used as a substitute for its signature. 6. Perpetual succession : The company has perpetual succession as its existence is not affected in any way by the death, insolvency or exit of any shareholders. . Transferability of shares : The shareholders can transfer their shares to any person of their choice. It enables a shareholder to increase or decrease his investment in a company at any time. 8. Limited liability : Liability of the members of a limited company is restricted to the face value of the shares purchased by them. The personal property of the members cannot be attached to satisfy the claims of creditors of a company. 9. Separation of ownership from management : The company is not managed by all the members because the number of members may be large.The authority to manage the whole affairs is conferred to elected representatives of members known as directo rs. 10. Statutory regulations and government control : The company is governed by the Company Act and it has to follow various provisions of the aforesaid Act. A company has to comply with numerous statutory requirements. 11. Rigidity of objects : The type of business in which the company would participate must be mentioned in the Ã¢â¬Ëobject clauseÃ¢â¬â¢ of its Memorandum of Association. 12.Strict legal formalities to commence business : In order to form a company, it is necessary to submit certain documents to the Registrar Companies such as memorandum of association, articles of association, prospectus, list of directors etc. 13. Social benefits : Company form of business enables better utilization of available resources and thus ensures that society have benefited. 14. Accountability to shareholders : All the affairs of the company are to be disclosed to the shareholders so that they may come to know about the prospects and other problems of the company as a whole. 5. Public confidence : The financial statements of a company are published every year. Thus public can have clear idea about the activities of the company so a company enjoys greater public confidence. 16. Scope for expansion : A company is better placed as regards the facilities of the growth, development and expansion of its business. Memorandum of association According to Company Act 1994 Ã¢â¬â Ã¢â¬Å"Memorandum means the memorandum of association of a company as originally formed or as altered in pursuance of this Act. Ã¢â¬Å"According to Lord Cairns Ã¢â¬â Ã¢â¬Å"The memorandum of association of a company is its charter and it defines the limitation of the power of the company. Ã¢â¬ So we can say that the memorandum governs the relationship of the company with the outside world and it is the foundation upon which the super-structure of the company is built. Clause of Memorandum of association 1. Name clause : The name of the proposed company is mentioned in this clause. The name of a company must end with the word Ã¢â¬ËLimitedÃ¢â¬â¢ the word Ã¢â¬ËPublic LtdÃ¢â¬ and the word Ã¢â¬Å"Private LtdÃ¢â¬ . All the time of selecting the name of the company the promoter should follow the following things Ã¢â¬â . The name should not be identical with the name of any existing company. b. The name should not create and impression that the company is carrying on the business of some other existing companies. c. The name should exclude words like crown, emperor, empire, president or prime ministerÃ¢â¬â¢s name. 2. Address clause : The memorandum must contain the full address of the register office. 3. Object clause : This is the most important clause in the memorandum which states what the company can do. The object must include all the possible lines of business in which company is likely to be engaged.Usually this clause is so drafted that the company may enjoy wide fields for activities in future. 4. Liability clause : This clause states the nature of l iability of the members of the company. a. Incase of a company limited by shares, memberÃ¢â¬â¢s liability is limited to face value of the shares. It means that when the shares are fully paid up, members are free from any liability. b. Incase of a company limited by guarantee, the liability clause must state the extent of liability of each individual member in the event of its being wound up. c. Incase of an unlimited company, the liability clause does not appear in the memorandum of association. . Capital clause : This clause states the amount of capital with which the company is registered or authorized to conduct business and the division of capital into equity share and preference share capital should be mentioned. 6. Association clause : This clause contains a declaration by the person(promoter) who signed the memorandum to form the company in a legal way for a legal purpose and to take minimum share of the company. Memorandum of association According to Company Act 1994 Ã¢â¬ â Ã¢â¬Å"Memorandum means the memorandum of association of a company as originally formed or as altered in pursuance of this Act. Ã¢â¬Å"According to Lord Cairns Ã¢â¬â Ã¢â¬Å"The memorandum of association of a company is its charter and it defines the limitation of the power of the company. Ã¢â¬ Articles of association The Articles of Association is the second important document of Joint Stock Company. It contains the rules and regulations for the internal management, administration and organization of the company |Memorandum of association |factors of distinguish |Articles of association | |Memorandum is the fundamental charter of a |Nature |Articles are subsidiary to the charter. |company. | | | |Memorandum states the relationship between |Scope |Articles contain provisions for internal management of| |the companies an outsider. | |the company. | |Memorandum defines the objects of the |Objectives |Articles define the rules for carrying out the objects| |company. | |of the company. | |Memorandum canÃ¢â¬â¢t be altered easily.It |Alteration in the document |Articles can easily be altered without the | |requires court information. | |confirmation of the court. | |Registration of memorandum is compulsory |Registration |Registration of articles is not compulsory for a | |for any company. | |public company. | |Memorandum of association is based on the |Application of rules |Articles of association are based on the doctrine of | |doctrine of constructive notice. | |indoor management. |It has no optional. |Optional |Public company may optional for table A for the | | | |incorporation purposes. | |Memorandum of association is always |Misunderstandings. |Articles of association can be changed in | |unchanged in misunderstandings. | |misunderstandings. | |Any work out of its subject matter is |Illegal work |Any work can be done beside it but in the range of | |illegal. | |memorandum. |Memorandum definite the working area. |Working area |Articles are not any wo rking area. It orders process. | Dissolution means dissolve or close. Dissolution of company means to close or dissolve of any existing company. The process by which a company can be closed is called companyÃ¢â¬â¢s dissolution or winding up of a company. Company is an artificial personality organized by an individual organization created by law. According to 1994 company act, Ã¢â¬Å"To dissolve or winding up of any existing company the activities of companyÃ¢â¬â¢s is called dissolution of company. Ã¢â¬ A company is said to be dissolved when it ceases to exist as a corporate entity. Ã¢â¬ Ã¢â¬âC. B. Gupta Ã¢â¬Å"Winding up company is a process by which its life comes to end and the assets of company is utilize for the help of creditors and members. Ã¢â¬ Ã¢â¬âProf. Gower In 1994 company act section 234(1) there mentions three methods of dissolution of company. These are: 1. Mandatory dissolution by court. 2. Dissolution by own will. . Dissolution by courtÃ¢â¬â¢s su pervision. 1. Mandatory dissolution by court [Section 234-1(A)]: In circumstances the causes by which a company can be dissolved mandatorily by the law of court by the application of companyÃ¢â¬â¢s shareholders, creditors or companyÃ¢â¬â¢s registrar are: 1. Taking decision of dissolution in special meeting. 2. Failing to start a business in one year after the date of registration. 3. To close any company one or more year continuously without any legal reason. 4. Lacking of minimum members of a company according to law. 5. Failure to pay the loan five thousand or above. . Any reason of followings: a. Inefficiency in direction. b. Related with illegal job. c. Facing loss continuously. d. Neglecting of shareholders or their rights etc. Based on above causes court can take the decision of winding up and recruit a liquidator who firstly distributed the asset between third parties and rest of between shareholders. B. Dissolution by own will [Section 234-1 (B)]: Creditors or shareholde rs of any company can dissolve their business whenever they wish. In this circumstances, shareholders and creditors can winding up the business without taking any help of court.Causes by which a company can be dissolved by own will: 1. Taking decision of dissolution in special meeting by creditors or shareholders. 2. Formed any company for pre-determined purpose or objective. 3. If any company is not able to pay their liabilities. 4. Direction of company is proved not profited. C. Dissolution by courtÃ¢â¬â¢s supervision [Section 234-1 (C)]: In the circumstances of companyÃ¢â¬â¢s dissolution by own will by the application of any parties a company can be dissolved by courtÃ¢â¬â¢s supervision. Causes of dissolution by courtÃ¢â¬â¢s supervision: 1.To take decision for mistreating with creditors or shareholders. 2. Collection and selling of companyÃ¢â¬â¢s asset illegally. If court takes responsibility of dissolution for any reason it recruits a liquidator to solve dissolution pr ocess. (Section 319) Share is a unit of capital. Capital is created by selling of shares or exchange. But, share can be different according to their price, rights, transferability, advantages etc. Mainly share is divided into four types. Such as: 1. General share. 2. Preference share. 3. Deffered share. 4. Special share. 1.Ordinary share: Ordinary shares are those shares on which no special privilege is attached. In other words, all the shares except preference shares are called ordinary shares. It also known as equity share. Ordinary shareholders collect their profit after distributing profit among the shareholders of the preference share. But, the rights, responsibility, duties etc. of the company are performed by them. Ã¢â¬Å"All the shares except preference are called equity share. Ã¢â¬ Ã¢â¬âJ. K. Mitra Some characteristics of ordinary share are given below: . Ordinary shareholders get their profit after distributing to the preference shareholders. 2. In case of dissolutio n of company they have equal rights to get their assets. 3. They can take participation to direct the company. 4. They can take part in companyÃ¢â¬â¢s meeting. 2. Preference share: Preference shares are those shares to which some preference is attached in terms of: (a) payment of dividend, (b) return of capital. (c) both. In the first case, the preference shareholders are entitled to receive a fixed rate of divided before the dividends given to equity shareholders.In the second case, preference shareholders are entitled to get back their capital in priority to equity shareholders in the event of liquidation of the company. Some characteristics of preference share are given below: 1. Rate of return is guaranteed. Thus, the amount of dividend to be received is certain. 2. Preference shares are better suited for conservative investors, who care more for security of investments and certainty of income. 3. The holders of this share get a fixed rate od dividend even if the company makes a larger amount of profit.Preference share can several types. Such as: 1. Cumulative preference share: Preference share are cumulative where the preference dividend, if not paid in one year is carried forward to succeeding years. 2. Non-cumulative preference share: The holders of these shares have no claim for the arrears of dividend. They are paid a dividend if there are sufficient profits. 3. Participating preference shares: These share holders are entitled to participate in the surplus profits of the company in addition to their usual fixed rate of dividend. 4.Non-participating preference shares: Preference shares on which only a fixed rate of dividend is paid, are known as non-participating preference shares. 5. Redeemable preference share: The holders of redeemable preference shares can get back their capital at the expiry of a certain period or at the option of the company as may be mentioned in the articles of association. 6. Irredeemable preference share: The preference sha res that canÃ¢â¬â¢t be redeemed unless the company is liquidated are known as irredeemable preference shares. 3. Deffered share: The owner of those shares get chance to take profit or to exchange capital after meeting.To bear the preliminary or other expenses company provide these shares in exchange of cash. 4. Special share: Some special shares are given below: 1. Bonus share: Company canÃ¢â¬â¢t provide all of its profit to shareholders. It deposits some part of profit at the reserve fund. When the amount of reserve fund is more than sufficient or in crisis of company; the amount of reserve fund is brought to company as capital as like as cash and shares are distributed to shareholders. According to J. K. Mitra,Ã¢â¬ Shares which are issued free of cost to the existing equity shareholders are known as bonus shares. 2. Right share: Sometimes Company increases their capital by distributing new shares. Old shareholders are get preferences at the time of distribution of new share s. In this case new shares are divided among them by their profit ratio. 3. Non-par value share: Non-par share refers those shares which are not fixed from the beginning but it determines based on asset after a specific year is called non par value share. In Bangladesh it is not popular. Minimum subscription means the minimum amount of capital which a company requires for the starting of the business.The minimum subscription should be received within 120 days after the date of the issue of the prospectus. A company canÃ¢â¬â¢t allot any shares unless the minimum subscription has been raised through the application for shares. If this minimum amount is not collected within the stipulated time period, the amount received from the applicants must be returned within the next 10 days (i. e. within 130 days after the issue of shares) Ã¢â¬Å"The minimum subscription is to be fined by the directors or by the persons who have signed the memorandum. Ã¢â¬âSen. & Mitra Ã¢â¬Å"Minimum subscr iption is the minimum amount which is the opinion of the directors or of the signaturories of the memorandum arrived at after due enquiry. Ã¢â¬ Ã¢â¬âM. C. Shukla The amount of minimum subscription is fixed by the directors. Minimum subscription is necessary to cover the following expenses: 1. Preliminary expenses. 2. Underwriting commissions on sale of shares. 3. Working capital. . The cost of any property purchased or to be purchased. 5. Payment of any money borrowed for the above purpose. 6. Any other necessary expenditure. A prospectus is a document inviting the general public to subscribe to the share capital of a public company. A prospectus is issued by a public company after obtaining the Ã¢â¬Å"Certificate of IncorporationÃ¢â¬â¢ from the register. Ã¢â¬Å"Document containing offer of shares or debentures for sale to be deemed a prospectus. Ã¢â¬ Ã¢â¬âAccording to company act 1994 section 142 A document containing detailed information about the company and invit ation to the public subscribing to the share capital and debentures issued is called prospectus. Ã¢â¬ Ã¢â¬âS. S. Sarkar and Others From the view point of above discussion we can say that- 1. Prospectus is an invitation letter to public. 2. It must be served from company. 3. It is a complete description of shares and debentures. Finally it can say that to raise capital from public limited company issues prospectus.If the shares are divided between the partners then to start the business, partners should prepare an additional prospectus. To apply for commencement it is necessary to submit prospectus or additional prospectus. 3. Distinguish between Private limited Company V/S Public Limited Company. |Private limited company |Basis of differentiation |Public limited company | |Two |Minimum number of members |Seven | |Fifty Maximum number of members |Unlimited | |Restricted |Transferability of shares |Freely transferable | |Not allowed |Raising capital from public |Allowed | |Mini mum-Two |Number of directors |Minimum-Three | |Maximum-Unlimited | |Maximum-A specified by the articles | |After obtaining certificate of |Commencement of business |After obtaining certificate of | |incorporation | |commencement. |Not required |Holding of statutory meeting and submission of |Required to be submitted to the | | |statutory report |registrar of the companies. | |Not required |Filing of prospectus or a statement in the lieu of |Required | | |prospectus | | |Name must end with the words |Name of company |Name must end with the word Ã¢â¬ËLimited. Ã¢â¬â¢| |Ã¢â¬ËPrivate Limited. | | | |Two |Quorum at the annual general meeting |Five | |Need not retire by rotation. |Rotation of directors |Retire by rotation. | |Simple and cheap. |Procedure for formation |Complicated and relatively costly. | |No need to maintain |Index of members |Index to be maintained. | |Low protection |Protection to members |High protection. | |Possible. |Ability to make quick decisions |Not possibl e. | |Small |Financial and managerial resources |Large. | |Low Scope for expansion |High. | |Not allowed. |Disposal of shares |Allowed. | |Less liquid. |Liquidity of investment in shares |Greater liquidity. | 4. What is artificial personality? Joint Stock Company is an organization which is formed and directed by company act 1994. According to 1994 company act,Ã¢â¬ Any Company is formed and registered under this act is called company. Ã¢â¬ Ã¢â¬Å"A company is an artificial being invisible, intangible and existing only in contemplation of lawÃ¢â¬ Ã¢â¬âJohn Marshal Company is an incorporated association which is an artificial person created by law having a common seal and perpetual succession,Ã¢â¬ Ã¢â¬âSherlekar and Sherlekar Artificial personality of the company means the personality as like as person. These are: 1. Lawful: It is formed and registered by company act. 2. Common seal: It has a common seal which is used in all documents. 3. Lawful rights: Company act gives some right to it. 4. Transaction by own name: It can deal by its own name like other person. 5. Direction of case: A company can able to case on another company like person. 6. Fixed existence: A company is formed by law.So, it has fixed existence. From the above discussion we can say though company is not any person but it seems as a person because it is created by law. So Y. K. Bushan said,Ã¢â¬ A company may be defined as an artificial person recognized by law. Ã¢â¬ 5. Who is underwriter? The person or organization who takes responsibilities to sale the shares of public limited company by an agreement is known as underwriter. Underwriter takes responsibilities to sale the shares of public ltd. company by a certain commission. If the underwriter fails to sale the shares then he takes the liability for rest of the shares. Functions of underwriter are known as underwritten. The term underwriter means any person who has purchased from an issuer with a view to, or sells for an issuer in connection with. Ã¢â¬ Ã¢â¬âSecurities act 1933 2(11) Ã¢â¬Å"A person who underwrites issue of stocks,bonds etc. Ã¢â¬ Ã¢â¬âWebsterÃ¢â¬â¢s new World Dictionary Ã¢â¬Å"A person or company that underwrites an issue of securities. Ã¢â¬ Ã¢â¬âCharles J. Woelfel From the above definitions we found some characteristics of underwriter: 1. Underwriter may be any person or organization. 2. It can be performed underwritten activities as a part of business. 3. They purchase shares, bonds, debentures etc. for a certain commission. 4. They provide surety to sale shares, stock, debentures of company. 5. They take all responsibilities though the shares are not sold.Finally it can be said that underwriter is a businessmen who helps company to collect capital by selling shares, debentures etc. 6. Method of retirement of company directors. Director of the company means the members who are voted for directing the company. They are also determined company policies and man y other activities for business. Directors take their position by the vote of members, board of directors, company act as well as government. To remove the director for its place is also maintain some rules. Such are given below: 1. Special decision: In special meeting, by the decision of shareholders any directors can be removed from his post. 2. Statutory removal: In company act 108(1) is said,Ã¢â¬ The position of director can be removed if- 1.If the director failed to gain preference share in given time. 2. If the director is announced mentally sick. 3. If the director be 4. If he failed to pay the call money in between six months. 5. If the director was absent in meeting of board of directors without permission. 6. If the director make any agreement without the permission of board of directors. 7. If the director involved in any illegal work. 8. If the director involved in crime. 3. Removal by government: Director can be removed from his post by government and also by shareho lders and creditors with the help of government. 7. What is an article of association? Articles of AssociationThe Articles of Association is the second important document of Joint Stock Company. It contains the rules and regulations for the internal management, administration and organization of the company. They define the power, rights and duties of directors or other officers of the company and regulate the relations between the company and its members. The main purpose of articles of association is to execute the object clause of the memorandum. Ã¢â¬Å"Articles are the internal laws of a company. Article devise ways for the internal management of the company. Ã¢â¬ Ã¢â¬âLord Brobene The articles of association are the regulations or bye-laws which govern the internal management and conduct of the affairs of the company. Ã¢â¬ Ã¢â¬âM. C. Shukla It must be framed within the items of the memorandum of association and provisions of the Company Act. A company limited by sh ares (Public Limited company) may adopt Ã¢â¬ËTable AÃ¢â¬â¢ a model-Article as provided by Company Act as its articles. But a Private Limited company or a company limited by guaranty must have their own articles. 8. What is Ã¢â¬ËCertificate of commencementÃ¢â¬â¢? A private company can commence business immediately after the grant of Certificate of Incorporation.A public company cannot commence business until it obtains a Ã¢â¬ËCertificate of CommencementÃ¢â¬â¢ in addition to the Ã¢â¬ËIncorporation CertificateÃ¢â¬â¢ from the register of companies. At first public limited company submit a application to registrar according to Company Act 1994 Section- 4. If all the responsibilities are performed by public limited company accurately then registrar gives a letter or certificate to public limited company. The matters which are included in certificate of commencement are described at below: 1. Name and address of registered office. 2. Issuing date of Certificate of commencem ent. 3. Date of Commencement. 4. Certificate no. 5. Office seal. 6. Name and profession of registrar with seal and signature. 7. Description of conditions. (If exists. )The Ã¢â¬ËCertificate of commencementÃ¢â¬â¢ is issued in favour of a public company by the registrar, only when the following conditions are fulfilled: 5. Describe the advantages of public limited company than private limited company. Private limited company: A private company is an incorporated body registered under the Companies Act with three important respective provisions in the Ã¢â¬ËArticles of associationÃ¢â¬â¢. Public limited company: A public limited company is an association consisting of seven or any higher number of members, which is registered under the Companies Act. The advantages of public limited company over private limited company are described at below: 1. Liability: In public limited business the liability of each share holders are limited by their shares.But, in private limited company th e liability of shareholders is huge. 2. Sufficient capital: The shareholders of public limited company are more than private limited company. So, public limited company enjoys more capital than private limited company. 3. Membership: In public limited company there is no upper limit to the number of members. But, in private limited company it is limited. 3. Financial resources: Public limited company generally refers a huge organization. So, collection of financial resources is comparatively more than private limited company. 4. Economies of large scale production: Huge financial resources lead to a phenomenal growth in the size of the company.Economies may relate to greater division of labour, specialization, more effective use of resources, bulk purchase of raw materials at lower prices etc. Private limited company canÃ¢â¬â¢t get sufficient advantages as like as public limited company. 5. Large size: Private limited company is not a large size business. It generally established in one specific area. Public limited company is a large scale business. It has branches at all over. 6. Transerferibility of shares: The shares of private limited company are not easily transferable. But, the shares of public limited company are simply transferable. 7. Perpetual succession: Public limited company is formed by law.So, it the company is not being closed for the poor condition of shareholders. But, private limited company can be closed on its measurable condition. 8. Public confidence: Public limited company is directly related with public. So, they can acquire confidence of public. But, in private limited company this possibility is not exist. 9. Creation of employment: Pubic limited company is a huge company. So, the opportunity of creation of employment is more than private limited company. 10. Research: Public limited company always tries to distribute their products worldwide. So, they always research to develop their product more and more. In that case private li mited company is not so superior.Finally we can say that public limited company is more advanced than private limited company. But, private limited company has enjoyed some special advantages which canÃ¢â¬â¢t be enjoyed by public limited company. Merits or Advantages of a company form of organization The following are the merits of a joint stock company Ã¢â¬â 1. Accumulation of huge financial resources : The company form of business facilitates mobilization of large amounts of capital for investment in industries. 2. Economies of large-scale production : The company form of business can enjoy all the benefits of large-scale production such as minimum cost of production and maximum profit. 3.Scope for expansion : A company can easily expand its managerial capacities and financial resources. It has great potential for diversification and growth. 4. Stability of existence : The organization of a company as a separate legal entity gives it a character of continuity. As an incorpora ted body, a company enjoys perpetual existence. 5. Transferability of shares : The shares of a public company are freely transferable. The shareholders are at full liberty to dispose of their shares to any person they desire. 6. Democratic control : The company is managed on the principle of democracy. The boards of directors who manage the company are elected by the shareholders.The directors are responsible and accountable to the shareholders. 7. Managerial efficiency : A company can secure the services of highly qualified persons who are experts in different fields of business management. 8. Stimulation to savings and investments : The company is an effective media of mobilizing the scattered savings of the community and investing these savings for commercial purposes. Insurance companies, banks and other financial institutions invest their money in the shares of different joint stock company. 9. Tax relief : The company enjoys greater tax relief as compared to other forms of bus iness. Company pays lower tax on a higher income as it pays tax on the flat rates. 10.Diffused risk : The membership of a public company is large. The business risk is divided among several members of the company. 11. Statutory regulation and control : Formation and working of companies are well regulated by the provisions of the Company Act. These strict regulations safeguard the interests of shareholders and people who deal with the company. 12. Public confidence and popularity : A company is guided and controlled by strict regulations and government control. These ensure public confidence and popularity. 13. Social responsibilities : Due to the existence of the company form of business, society is benefited in different ways.So we can say that the joint stock company constitutes an important advancement in the modern emerging commercial structure with its different advantages. Demerits or disadvantages of Joint Stock Company The following are the disadvantages of a joint stock co mpany Ã¢â¬â 1. Adherence of too many legal formalities : The formation of a company requires adherence of too many legal formalities. The establishment and running of a company would prove to be troublesome because of complicated legal regulations. 2. Concentration of power in few hands : Shareholders of the company have practically no say in the affairs of the company. The directors of the company become self-centred and they do not care for shareholders. 3.Excessive Government control : A company has to observe too many provisions of different laws imposed by the government. 4. Undue speculation in shares of the company : Undue speculation in shares of a company is injurious to the interests of the shareholders. 5. Fraudulent management : The promoters and directors may indulge in fraudulent practices. The unscrupulous directors may present a rosy picture of the company in its annual report. 6. Bureaucratic control : Quick decisions and prompt action are absent in the managemen t of a company. It makes a company an inflexible enterprise. 7. High nepotism : In companies, employees are selected not on the basis of ability but on the basis of personal interest of the management. 8.Inflexibility in management : A company cannot quickly adjust with the changing conditions in the market because of its complex structure and legal obligations. 9. Monopolistic control and exploitation of consumers : Joint stock companies facilitate formation of business combinations which ultimately lead to monopolistic control and exploitation of consumers. 10. Social abuses : Evils of factory system like installation, pollution, congestion of cities are attributed to the company form of organization. Moreover, the close and cordial relationship between the management and employees is difficult to maintain. Formation of Joint Stock Company Joint Stock Company is formed under the Company Act followed by the country where the company is established.In Bangladesh a joint stock compan y whether a public or a private may be formed by registration under the Company Act 1994. The whole process of company formation in any country may be divided into three Distinct stages Ã¢â¬â a. Promotional stage : The process of conceiving an idea and developing it into a concrete of project to be accomplished by the incorporation and floatation of company is called promotion. The number of promoter in Public Limited company who take necessary steps are minimum two and maximum 50 in case of Private Limited company and minimum seven, maximum contains by share in Public Limited Company. These are four main stages in the promotional stage of a company Ã¢â¬â ) Identifying the idea : The promoters at first conceive an idea and identify the business opportunities. ii) Detail investigations : Detail investigations of Ã¢â¬â a. Market condition b. Demand for the products c. Estimated cost of production d. Estimated profit margin e. Capital requirement iii) Assembling: After a throu gh investigations of project the promoters decides whether they will take risk or not. iv) Selection of the name of the company and submission : In this step, the company prepare two documents Ã¢â¬â a. Article of association b. Memorandum of association b. Incorporation stage : When the promoters can finish the primary arrangements, they apply in prescribed from to the register of joint stock company.And along with the application, they submit with the register, the registration fee as per Table(B) of the Company Act and a copy of each of the following documents for the registration of the company. a. A copy of the memorandum of association b. A copy of the articles of association c. A statement of nominal capital d. The address of the registered office of the company (selected by the registrar) e. A declaration to the effect that all legal requirements have been duly complied with. Incase of Public Limited Company the following document is to be estimated Ã¢â¬â a. A list of d irectors b. A written contest of each director to act as such and to take up the qualifications shares.The registrar will examine all this documents and if he is satisfied that every thing is in order, he will then enter the name of the company on the register maintain his office and issue a certificate known as the Certificate of Incorporation which gives the company a legal existence. c. Floatation stage : When a company has been incorporated it has to raise capital sufficiently to commence business and to carry it on with satisfactory. The Private Limited Company may obtain this capital from friends and relatives. A Public Limited company raises the greater part of the capital from the general public by issuing a prospectus. d. Commencement: A Private company can start its business after obtaining a Certificate of Incorporation but a Public Limited company cannot. It must receive another certificate known as Certificate of Commencement.The registrar will issue this certificate on fulfillment of the following requirements Ã¢â¬â a. Minimum subscription has been raised. b. The direction has been taken up and paid for their qualification shares. c. The prospectus on the statement in lieu of prospectus has been filled. d. A declaration has been made to the effect that all legal requirements have been duly complied with. It is to be noted that, a Public Limited company is to start business within one year from the date of receiving the Certificate of Commencement. Memorandum of association According to Company Act 1994 Ã¢â¬â Ã¢â¬Å"Memorandum means the memorandum of association of a company as originally formed or as altered in pursuance of this Act. Ã¢â¬Å"According to Lord Cairns Ã¢â¬â Ã¢â¬Å"The memorandum of association of a company is its charter and it defines the limitation of the power of the company. Ã¢â¬ So we can say that the memorandum governs the relationship of the company with the outside world and it is the foundation upon which the su per-structure of the company is built. Clause of Memorandum of association 1. Name clause : The name of the proposed company is mentioned in this clause. The name of a company must end with the word Ã¢â¬ËLimitedÃ¢â¬â¢ the word Ã¢â¬ËPublic LtdÃ¢â¬ and the word Ã¢â¬Å"Private LtdÃ¢â¬ . All the time of selecting the name of the company the promoter should follow the following things Ã¢â¬â d. The name should not be identical with the name of any existing company. e.The name should not create and impression that the company is carrying on the business of some other existing companies. f. The name should exclude words like crown, emperor, empire, president or prime ministerÃ¢â¬â¢s name. 2. Address clause : The memorandum must contain the full address of the register office. 3. Object clause : This is the most important clause in the memorandum which states what the company can do. The object must include all the possible lines of business in which company is likely to be e ngaged. Usually this clause is so drafted that the company may enjoy wide fields for activities in future. 4. Liability clause : This clause states the nature of liability of the members of the company. d.Incase of a company limited by shares, memberÃ¢â¬â¢s liability is limited to face value of the shares. It means that when the shares are fully paid up, members are free from any liability. e. Incase of a company limited by guarantee, the liability clause must state the extent of liability of each individual member in the event of its being wound up. f. Incase of an unlimited company, the liability clause does not appear in the memorandum of association. 5. Capital clause : This clause states the amount of capital with which the company is registered or authorized to conduct business and the division of capital into equity share and preference share capital should be mentioned. 6.Association clause : This clause contains a declaration by the person(promoter) who signed the memoran dum to form the company in a legal way for a legal purpose and to take minimum share of the company. Articles of Association The Articles of Association is the second important document of Joint Stock Company. It contains the rules and regulations for the internal management, administration and organization of the company. They define the power, rights and duties of directors or other officers of the company and regulate the relations between the company and its members. The main purpose of articles of association is to execute the object clause of the memorandum. It must be framed within the items of the memorandum of association and provisions of the Company Act.A company limited by shares (Public Limited company) may adopt Ã¢â¬ËTable AÃ¢â¬â¢ a model-Article as provided by Company Act as its articles. But a Private Limited company or a company limited by guaranty must have their own articles. Private Limited Company A private company is an incorporated body, registered under t he Company Act with three important restrictive provisions in its Ã¢â¬ËArticles of AssociationÃ¢â¬â¢. A private company is one which Ã¢â¬â 1. Restricts the rights of its members to transfer their shares in the company. 2. Limits the number of its members to fifty. 3. Prohibits any invitation to the public to subscribe for any shares or debentures of the company.
Wednesday, October 23, 2019
Tutorial Ã¢â¬â Alligation I This is a copy on a word document. A few members have posted that they could not open the original that was posted on August 4, 2002 as a Created Text File. The following is an exact duplicate: The following is a dilution problem, solved by using an alligation method. to see this problem solved by using ratio/proportion please see a Tutorial called: Tutorial on Dilution Using the Ratio / Proportion Method Problem: The doctor has ordered 60ml of a 12% solution of a specific drug (Rx). However, on the shelf you have only 30% (Availability or Av). What can you do? or use instead? Answer: Dilute the stronger 30% with WATER to make a 12% solution Calculation: Alligation or Ratio/Proportion Method This Tutorial is by using the Alligation method only. For the Ratio Proportion Method Please see the Tutorial on Dilution Using the Ratio / Proportion Method Begin by drawing a Tic Tac Toe diagram: NOTE: WATER has NO drug in it. Therefore the percentage (%) of drug is 0%. 1. Place the high in the upper left. (H) 2. Place the lowest in the lower left. (L) 3. Place the middle or what you are going to make in the middle. (M) 4. Subtract H Ã¢â¬â L and it becomes (both) the denominators. 30-0=30 5. Subtract H Ã¢â¬â M and it becomes the numerator of the lower right corner. 30- 12=18 6. Subtract M Ã¢â¬â L and it becomes the numerator of the upper right corner. 12-0=12 7. Check point: 12 + 18 = 30, 30 over 30 = 1 or 30/30 = 1 Note in the future doing other alligations: If your answer is one or 1 then you may proceed with a green light to the next step! Your alligation should look like this: 12 30% Ã¢â¬âÃ¢â¬â X 60 ml = 24 ml of 30 % solution 30 12% 18 % Ã¢â¬âÃ¢â¬â X 60 ml = 36 ml of WATER (0 % solution) 30 = 60 ml of 12% solution Dear All With the ability of this new site to keep the graphic or design of the tic tac toe, I have been able to enhance it here on a File attachment. The lines of the alegation stay straight!!! Jeanetta Mastron copyright July 18, 2002 The above is an exact copy/duplicate of the Created Text File on a word document. A few members have posted that they could not open the original that was posted on August 4, 2002 as a Created Textr File. The above is an exact duplicate. The following is the original date it was posted, the original link that is STILL on the site with the Created Text File, and a Print Screen which proves the original posted date. Original post date: AugÃ 4,Ã 2002 Original link of JeanettasPTCBStudyGroup: http://f1. grp. yahoofs. com/v1/AMLVSb6aO3208cFhgB9h90haDMQjWFAZpRWYP9pgHo88xiQ8ZLvqBwWiBIDp pIEkkCdYpiUxP5thnV6nJHq6/5-%20Tutorial-1%20%26%20Study%20Information/S%208-%20Math%20Tutorials%20Only/Alligations/Tutorial%20on%20Allegations%20I This is the original and current description of the Created Text of: Tutorial on Allegations I Learn how to dilute a strong solution with WATER using the Allegation methodas described by Jeanetta Mastron CPhT, Founder of the PTCB Study Group! . To learn how to do this with the Ratio-Proportion Method see the Tutorial on Dilutio using Ratio/Proportion Method copyright July 2002 by Jeanetta Mastron This is a print screen to prove that this was posted earlier. [pic] Please note the correct spelling of the word is Alligation. [pic] Ã¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬âÃ¢â¬â Notice the dates: Original Sept 21, 2003 Word Copy Apr 3, 2009 Updated Word May 23, 2009
Tuesday, October 22, 2019
Informative Spatial cues Essays Informative Spatial cues Essay Informative Spatial cues Essay Essay Topic: Informative Experiment 5 was conducted to investigate the effect of the introduction of the speech cue in experiment 4. As discussed previously, the introduction of the speech cue may have had some unforeseen influence on the results obtained in experiment 4. Therefore experiment 5 mirrors experiment 3 with the introduction of a spatially informative speech cue instead of the spatially informative pure tone. The results of the experiment supported the earlier findings in experiment 3 wherein, a significant response time advantage was found for valid cues for all SOA conditions in experiment 5. Therefore it can be assumed that the introduction of the speech cue was not the cause of the weakened response time advantage found for SOA of 200ms and 1100ms in experiment 4, and further that the major contributor to this response time advantage reduction is the removal of the spatial component to the cue. It can be said that the spatial cue plays a greater role in covert auditory attention rather than speech cues, although a combination of both would be the most optimal conditions. The factors that influences the localizability of an auditory stimulus is varied and complex. It should be noted that the frequency range of the sound affects both the presence and quality of both interaural time differences (ITD) and interaural intensity differences (IID), moreover, the intensity, duration, rise/fall time and complexity of the sound also affects the detecting of the sound. The lack of spatial cuing decreased the response time of subjects for they did not have basis for localization. Flanagan, McAnally, Martin, Meehan Oldfield (1998) visual search times were reduced when spatially informative auditory information was supplied. They used a spatial localization task in which the search for a visual target was aided by either a visual arrow or an auditory cue. They found both the visual and the auditory cues aided in significantly reducing the search times when compared to unaided search. It is however important that the visual and auditory information presented are detectable and localizable. Hence a signal should be localizable when information presented is critical (i. e. ; location of threats such as enemy fighters, missiles etc.) and that information presented is expected in that location will improve response time and accuracy (Posner, 1980, Spence and Driver, 1996). One interesting observation from experiment 5 was the overall decrease of response times for all conditions. In comparison to experiment 3 overall response times were about 30ms faster in experiment 5. The question raised is could the replacement of the spatially informative pure tone with the spatially informative speech have caused this improvement in overall response time. The introduction of speech alone did not have the effect of reducing response times in experiment 4 where a non-spatial speech cue was used. Hence the combination of the informative speech with the likely spatial location of the target may engage both exogenous and endogenous processes more completely than the just the likely spatial location alone. The essentially Ã¢â¬Å"double-barredÃ¢â¬ cue of both correct spatial location and the informativeness of a speech confirmation of the spatial location could have the effect of increasing the subjectÃ¢â¬â¢s confidence and/or efficiency at completing the task correctly. Therefore the reduced response times observed in experiment 5 in comparison to experiment 3 could be as a result of this Ã¢â¬Å"double-barreledÃ¢â¬ type of cue. Unfortunately, this assumption cannot be made in this case due to the fact that not all subjects who completed experiment 3 also completed experiment 5. Furthermore despite three subjects completing both experiments, the order of completion was the same with experiment 3 completed first, therefore no statistical analysis could be performed on the data due to the possibility of practice effects influencing the result.
Monday, October 21, 2019
The Differences Between the 18th Century and Contemporary Hospitality Essays The Differences Between the 18th Century and Contemporary Hospitality Essay The Differences Between the 18th Century and Contemporary Hospitality Essay THE DIFFERENCES BETWEEN THE 18TH CENTURY AND CONTEMPORARY HOSPITALITY According to Ackroyd (Ackroyd, 2005), London hospitality took its origins in Ã¢â¬Å"public place of cookeryÃ¢â¬ by the Thames in the 12th century. Then followed cook shops in the 16th century and eating houses, taverns or coffee shops, incredibly famous in the 18th. Without denying, London hospitality has undergone lots of changes to become what it is nowadays. Or has it? Are there real differences between modern and 18th century hospitality or are there mere changes of its forms? To begin with, contrary to what Ackroyd says, lots of authors consider the 18th century to be the birth of the hospitality in Britain. It could be due to different reasons. It was a time of great experimentation, political but also social. Great Britain was economically strong and the development of its middle class could not but contributed to this phenomenon. The technology discoveries participated greatly in the process with, for example, new technology of spirit distillation. The attitude to food had changed and the British begin to eat out socializing, showing off or just enjoying the food in a different place that is neither their home nor the one of their friends, colleagues, etc. One of these places was a coffee shop and it is still popular nowadays. One could find some in the Threadneedle Street, in St MartinÃ¢â¬â¢s Lane or at the corner of Pall Mall, convenient because of making it easy Ã¢â¬Å"to make appointments in any part of townÃ¢â¬ (Macaulay in Ackroyds, p. 320). They used to be the business places with certain clientele to be found in every one of them. Smoking fog, periodicals, bewiggered gentlemen, news and rumours were particular to these places. Nowadays we can still find independent coffee shops with character, for example, Bullet Cafe (according to the guidebook of London). They are rare. A much more recent phenomenon are the cafe chains such as Starbucks or Coffee Republique. They tend to have little or no character, being built in a corporate style and often serve as a spare meeting room for local offices. Still serving as a meeting place with news and rumours, they are frequented predominantly by women. Actually, that is one of the main changes that have emerged the presence of women who used to be excluded from any kinds of public places in the 18th century with the exception of tea shops. Only men used to frequent the coffee shops and only men used to eat out in eating-houses which Ã¢â¬Å"in the 18th century became known as beef houses or chop houses, together with taverns specializing in more formal or protracted foodÃ¢â¬ (Ackroyd). The famous ones were DollyÃ¢â¬â¢s Chop-house in Paternoster Row or cook-shops behind St Martin-in-the-Fields. The common food was meat. The recipes were not sophisticated with little influence of foreign cuisines. At least they pretended to be so, as you could find elements of French cuisine, for example, in the cookery books of that time. Nowadays due to globalisation and social changes including the customersÃ¢â¬â¢ behavioural changes, the situation is completely different. There exist a great number of any types of restaurants in London, serving food of five continents with the ingredients of all over the world. They are eager to satisfy the demand of any customer, looking for a traditional or exotic food, heavy or sane, Ã¢â¬Å"expensiveÃ¢â¬ or Ã¢â¬Å"cheapÃ¢â¬ , fast food or haute cuisine. You can find all these different types of food in another form of hospitality that existed also in the 18th century but at that time with the food particular to that period Ã¢â¬â take away. Surprisingly, in London it seems like this niche is not dominated by the global chains like McDonalds or KFC, etc to the extent they do in other countries. There exist lots of local independent businesses offering traditional fish and chips or Patoka or Chinese food and they constitute an important part of the take away market. We could also speak about new concepts of hospitality that didnÃ¢â¬â¢t exist before, like theatre cafe or restaurants with live music, clubs or degustation menus. Summarizing it up, we can agree that there exist differences between the hospitality of the 18th century London and of the modern one. We can cite globalisation, emancipation of women, technological advances, new organisational and social models as ones of the reasons of these changes. Yet one thing probably has not changed Ã¢â¬â seeing food as a symbol of the society it belongs to and being particular to its characteristics, the reasons why people eat out and the extent they could enjoy it. The thing is that every time we are looking for something new, different, special and the hospitality just follows us.
Sunday, October 20, 2019
Annotations in Reading, Research, and Linguistics An annotation is aÃ note, comment, orÃ concise statement of the key ideas in a text or a portion of a text and is commonly used in reading instruction and in research. In corpus linguistics, an annotation is a coded note or comment that identifies specific linguistic features of a word or sentence. One of the most common uses of annotations is in essay composition, wherein a student might annotate a larger work he or she is referencing, pulling and compiling a list of quotes to form an argument. Long-form essays and term papers, as a result, often come with an annotated bibliography, which includes a list of references as well as brief summaries of the sources. There are many ways to annotate a given text, identifying key components of the material by underlining, writing in the margins, listing cause-effect relationships, and noting confusing ideas with question marks beside the statement in the text. Identifying Key Components of a Text When conducting research, the process of annotation is almost essential to retaining the knowledge necessary to understand a texts key points and features and can be achieved through a number of means. Jodi Patrick HolschuhÃ and Lori Price AultmanÃ describe a students goal for annotating text in Comprehension Development, wherein the students are responsible for pulling out not only the main points of the text but also the other key information (e.g., examples and details) that they will need to rehearse for exams. Holschuh and Aultman go on to describe the many ways a student may isolate key information from a given text, including writing brief summaries in the students own words, listing out characteristics and cause-and-effect relations in the text, putting key information in graphics and charts, marking possible test questions, and underlining keywords or phrases or putting a question mark next to confusing concepts. REAP: A Whole-Language Strategy According toÃ Eanet Manzos 1976 Read-Encode-Annotate-Ponder strategy for teaching students language and reading comprehension, annotation is a vital part of a students ability to understand any given text comprehensively. The process involves the following four steps: Read to discern the intent of the text or the writers message; Encode the message into a form of self-expression, or write it out in students own words; Analyze by writing this concept in a note; and Ponder or reflect on the note, either through introspection or discussing with peers. Anthony V. Manzo and Ula Casale Manzo describe the notion in Content Area Reading: A Heuristic Approach as among the earliest strategies developed to stress the use of writing as a means of improving thinking and reading, wherein these annotations serve as alternative perspectives from which to consider and evaluate information and ideas.
Saturday, October 19, 2019
Todays selection processes are impartial, rational and effective. To what extent is this statement a myth - Essay Example In this paper, the focus will be on the selection processes of present times and whether or not these have turned out to be effective, rational and impartial with the passage of time. It will be taken care of by providing a balanced perspective Ã¢â¬â one that is in line with the thinking ideologies of the people who matter the most. One shall believe that selection processes of late have turned out to be a myth more than anything else. This is because they are usually filled with people who are either someoneÃ¢â¬â¢s relatives or close friends. There seems to be little impartiality attached with the notion of selection and recruitment as should be the case in the perfect scenario. The selection processes usually require a great deal of input from the human resources management department and without its due role within the thick of things, the different processes can go haphazard. This is a reality that has dawned upon different organizations as far as their selection processes are concerned. It would be correct to state that selection processes are usually marred with issues which are unethical in nature as well (Smith & Robertson 1993). What this means is the fact that these selection regimes have been unable to understand how different nuances of hiring the right people are followed and thus made a benchmar k in their own right. There are problems which must be resolved in an amicable manner so that the newly hired employees have a better feel of how things will shape up in the times to come (Laser 1994). What is most important here is to realize that the selection processes should be fair in their existence and give each and every candidate a chance to prove his mettle. If this does not come about in a proper manner, there could be issues which could mar the very basis of the selection that is being done under the aegis of an organization. It is necessary to ascertain the exact basis of success within the selection processes because these would speak
MNE should stop outsourcing to developing countries 2 - Assignment Example It is, therefore, the nature of human beings to be curious as the people were in the story. The story is a satirical piece, which the writer uses to mock human nature in general, and the Catholic Church. Criticism is seen from the father and the letter, which he sends to his superiors in Rome (382). The superiors do not look interested in coming to view the spectacle. Father Gonzaga is asked to talk to the Old man and see if his dialect is Aramaic. The superiors also ask Father Gonzaga to see how many times would fit in the head of a pin. This is an example of Catholicism, which refers to the medieval theory that was thought to be proof of GodÃ¢â¬â¢s omnipotence. The superiors in the Catholic Church finally make a conclusion that the old man is a Norwegian sailor who is stranded. This statement makes the church sound literal minded and not in touch with reality. The church is also seen to have a wait and see tactic, as they do not do anything about the old man with enormous wings. They just wait until the end when the man flies off. They leave the man in PelayoÃ¢â¬â¢s compound while they could have taken the man in their refuge so that they could find out everything about him. Human beings in the short story by Gabriel Garcia Marquez do not care about the significance of life (384). Everyone in the story is afflicted by narrowness of vision. This is seen from the church to the neighbor woman, the pilgrims, and the crowd of onlookers. Elisenda is also viewed to be narrow as she chooses to keep her living room and kitchen living free instead of deciding to consider her uninvited guest who was different from them and oddly beautiful. Regret is also considered as part of human nature by the writer of the story. When Elisenda looks at the angel at the end of the story and realizes that she would probably never have a chance of seeing him again, regret is clearly depicted. The writer points out that most people
Friday, October 18, 2019
Leadership. How to Teach a Leader - Essay Example Before leadership can be taught, it must be learned. By observing the behaviour of leaders, academics and managers have identified the qualities that leaders have, but certain analyses of leadership issues contain conceptual flaws and reflect the biases of those who study it. Knowing what a leader is supposed to be is never a guarantee that one with the potential to be a true leader eventually becomes one for a long period of time. Some great people have exercised leadership but only for a short period of time. An important reason why most people do not become leaders and why some are able to lead for a short period of time is that some critical qualities a leader must have, such as self-awareness and humility, are difficult to practice. Leadership can be learned, but strictly speaking it can never be taught because not everyone has the potential to be a leader. What would be more effective is to identify those with the potential to be leaders by giving them opportunities to grow in self-awareness and develop the leadership qualities. This demands effort and sacrifice. The starting point of this paper is finding answers to the questions as to what leadership is, why it is important, and how leadership is distinguished from management. ... Management scientists quantify and tabulate it whilst philosophers and political scientists discuss it to no end. Kings and CEOs endlessly search for it to justify their rule, satisfy their enlarged egos, or to identify the head that would wear their crown after them. An extensive search of the relevant literature gives the following concise definition: leadership is a set of qualities a person has that makes others want to follow that person whether to do good or evil. A leader is someone who has followers, people who are led to reach a definite destination or attain a specific set of objectives. Leaders are judged by their followers. All other definitions of leadership are mere exercises in semantics: complex-sounding, confusing, and ludicrous intellectual posturing by management charlatans paid by the hour who receive outrageous fees to further complicate, instead of simplifying, what is inherently complex. The multifaceted nature of leadership gives these fad-driven management gurus an edge over their audiences, and in their efforts to maximise their profitable gains in teaching others what they themselves neither have nor cannot do, they write books, deliver lectures, and engage in speaking tours mouthing kilometric definitions and mind-numbing clich-driven sound bites. Why is leadership a complex thing A look at some universally acknowledged leaders at one time or the other gives a partial answer. Take, for example, Churchill, Britain's Prime Minister during the War. With his inspiring words, he helped save the kingdom from annihilation and later on helped win the War, but he lost the first post-War elections as the people tired of his leadership. On the other side was