The 10 commandments of employee discipline and dismissal

Last year alone, hundreds of adverse rulings were slapped upon scores of companies, resulting to millions of liabilities. It is sad to note that many employers today, either abetted by their HR and personnel managers, or against the professional advice of HR and lawyers, do not really adhere to the provisions of the Labor Code, on the rules of dealing with their own workers in the matter of discipline and dismissal. Despite all the seminars, workshops and symposia, that HR personnel attend regularly, management never seems to learn. The result could be very damaging, if not disastrous. An adverse decision by the NLRC and the Supreme Court entails not only an order to reinstate workers and pay them full backwages but also moral and exemplary damages. The greatest damage is upon the good name and corporate image and goodwill of the companies, or an irreparable damage on the harmonious relations between employees and management, resulting to declines in productivity, quality and profits. To help address this problem, this writer is now embarking on an advocacy through the PMAP, the official association of people managers in order to address this problem. Last week, I was in Baguio, then to Iligan. Today, I am in Davao then later this week, to Cagayan de Oro, in July in Tacloban, Bicol and Batangas. By August, I will conduct seminars in Cebu, Mandaue, and Mactan on the critical need to go back to the rule of law in leading and managing people. I have 10 commandments on employee discipline and dismissal. First, management should respect the workers' rights in the exercise of the employers' prerogatives to hire and fire people, to transfer, promote and demote. The Labor Code is explicit and unequivocal. The DOLE, NLRC and the Supreme Courts are strict and uncompromising. The second commandment is that management should adhere to the specific just causes for termination of employment, under Article 282 of the Code, like serious misconduct, insubordination, fraud, breach of trust, gross and habitual negligence and crimes. Third, employers should follow the authorized causes under Article 283, like redundancy and retrenchment, labor-saving devices and closures. Fourth, the strict rules on due process, under Article 277 (b) should never be compromised. Fifth, management should always bear in mind that, in illegal dismissal cases, it is the employers and not the complainants who have the burden of proof. Sixth, the proof must be enough to qualify, under the law, and controlling doctrine, as falling within the quantum of substantial evidence. In Cebu alone, many firms failed to comply with these basic principles. The seventh commandment is that management should master the art and science of proper and adequate documentation, from hiring to retiring. Legal forms should be prepared following the intricate procedures and formalities. The advice of expert lawyers should be sought. Some lawyers may be excellent in criminal and civil laws but are absolutely clueless in the practice of labor laws and labor relations. Any mistake could endanger the viability of the business and the career of CEOs and COOs and some HR executives. Commandment number 8 is the crucial choice of lawyers and consultants and the proper handling of labor cases before the Labor Arbiters and the NLRC, the appellate and the Supreme Court. The ninth commandment is knowing how to respond to summons, adverse decisions, writs of executions and other legal processes. Out of sheer lack of knowledge or worse, lack of respect for law and fundamental workers' rights, many monumental mistakes had been committed. The tenth is for management to proactively train their executives, managers and HR staff how to avoid and prevent cases to be filed against the company. A small investment in these forward-looking, developmental and empowering seminars can go a long way in saving the business from the adverse effects of unfavorable court rulings.

Manage Under Uncertainty

University of Newcastle October 2012 [Yellow Auto Case Study] [GSBS6001 Individual Assignment] [By: Shih Yun Lin (3172398)] Executive Summery Managers are constantly faced with critical decisions that will heavily impact on the company’s competitive ability and profitability. This report will analyse the critical decisions made in the case study The Change Story of Yellow Auto Company from a sociologic decision making perspective.The case study presents four main decisions which are: increase of market share, change in decision management style, clarify job description and invest greater time and money in human resources. The analysis of these decisions centres on the relationships between employees and managers and the positive and negative attributes of group decision making. The case study demonstrates that the decisions made by Yellow Auto have been successful in achieving the organisational objective of an increase in market share and an improved human resources quality.R ecommendations have then been made in order to improve the company’s future decision making process including: a more consultative decision making process for high risk decisions, a hybrid management style, a different set up for job descriptions and quality management for human resources activities. Table of Contents Executive Summery2 Introduction3 Critical Decisions4 Increase of Market Share4 Change in Management Style5 Clarify Job Descriptions6 Invest Greater Time and Money in Human Resources6Recommendations7 Conclusion9 Reference List10 Introduction Companies must constantly make critical decisions in order to choose strategies in order to gain a competitive advantage or keep up in the rapidly evolving market. The factors influencing decisions and the relative advantages and disadvantages can be viewed from multiple perspectives. This report will analyse the decisions made in the case study The Change Story of Yellow Auto Company from a sociologic decision making perspec tive.The sociological perspective focuses on the patterns of social relationships, interaction and culture and how this impacts on the company’s decision making process. Various critical decisions have been made in this case study including: Increase of market share, change in decision management style, clarify job description and invest greater time and money in human resources. These decisions have all strongly impacted the company and will continue to impact it in the future.These decisions will be explored with a sociological focus, discussing positive and negative attributes of each decision. Recommendations will then be explored in regards to how the company can improve their decision making in the future. This case study report is based on credible research retrieved from published books and accredited journals obtained from the internet. Critical Decisions Increase of Market ShareThe first critical decision in the case study is the goal set in 2001, to increase Yellow Auto’s market share to 50%. This goal has been derived by the top managers alone and without any input for from the middle managers or front line staff. The managers believe the only way to achieve this goal is through an improvement in the human resource quality. There are many sociological factors in this decision including autocratic management style and small group decision making.Firstly Yellow Auto’s management style is comparable with that of McGregor’s Theory X management style in which top management makes all the decisions and maintain a strict control over the business (Mathis, 2010). This decision making and enforcing style can be effective due to the nature of small group decision making, in which smaller groups are able to reach consensus more easily. This is due to it being a more timely approach as lower number of people correlates to a reduced number of differing opinions and an increase in the participation of all members.The group is then abl e to work out the differences in points of view and come to an agreement. The communication flow from this point is then one way as determined by the autocratic style and the decision can be implemented throughout the rest of the organisation. There are also many negative attributes with the style of decision making however as the subordinates of Yellow Auto have not been included in the decision making process they may not be as motivated to implement the decisions made by the top managers.This is exacerbated in the case study as this decision to increase the market share of the company is risky due to the economic situation in Turkey. Turkey had experienced a financial crisis in both 2000 and 2001 the latter being ‘particularly far reaching in terms of its impact, resulting in a major collapse of output and employment’ (Onis, 2006). Accepting this level of risk without the consult of other employees can increase uncertainty within the company and cause employees to fe el segregated from the company.Furthermore the use of a small group in this decision making process has the potential of experiencing the Abilene paradox (Harvey in Teale, 2003:290) in which some top managers may not voice their concerns to avoid being discredited or appear to lose faith in the organisation. In order to identify and address these potential issues management of Yellow Auto decided to work with academics in the implementation of this decision. Change in Management Style Following an audit from the external consultants they proposed that the utocratic management style currently in use is a barrier preventing the company from achieving their goal of an increase in market share. Accepting this advice, the top management of Yellow Auto change to a more democratic management style opening systems of communication and the development of trust in employees throughout the organisation. This changes the group structure of Yellow Auto as where previously employees could be cons idered part of Scott’s out status, they have now have the opportunity to move up to the fringe status or actively participate as a primary set member (Scott in Harrison 1999:222).This leads to increased motivation with employees and gives them a greater connection to the company. By increasing the amount of people participating in decision making, Yellow Auto are able to utilize the diverse human resources that they have in order to generate more creative ideas and solutions to issues the company has. There are downsides into an increased group size however as reaching a consensus with more people is much more difficult. There is also an increase in the time it takes to make a decision and leads to unproductively and can create divisions within the company.Clarify Job Descriptions Another critical decision made in the case study is to interview all employees in order to analyse their jobs and clarify their job descriptions. This was completed due to employees stating that the ir responsibilities were not clear and authority and relationships were not clearly defined. Upon completing the analysis it was observed that some of the tasks between managers and employees were overlapping and steps were introduced in order to distinguish between tasks and develop more comprehensible job descriptions.By distinguishing and identifying employee’s roles, the relationships between the employees are explained and can lead to better understanding of authority and improve communication throughout the organisation (Mathis, 2010). It also prevents particular roles from overlapping and can ensure that the right employee is completing the necessary job. While ensuring that job descriptions are up to date and clearly defined this can also have some negative implications for the company. Firstly in order to complete this is very costly and time consuming.It can then freeze the job, preventing it from evolving and result in a lack of flexibility and remove initiative fr om the employee. By describing the responsibilities of the employees it reinforces the boundaries of responsibility and can lead to the ‘it's not my job’ (Mathis, 2010) reflex. Invest Greater Time and Money in Human Resources The final critical decision made in the case study was to invest greater time and money into human resources. This decision has a heavy focus on sociology with the relationship between employees and an emphasis on communication.Yellow Auto hired new staff to fit the right jobs and invested heavily in their training. Training included individual aspects such as interpersonal skills, time and stress management as well as group sessions which increase coordination and communication and team spirit. These training methods and exercises focus on building the characteristics of effective groups including: cohesion, group roles, norms, conformity and interaction (Ayson, 2012). Cohesion is created through the team building activities and the job descriptio ns which also lead to an understanding of the roles and norms of the group.This allows for group activities to be conducted in an acceptable manner with each member of the group knowing how to act and what duties they must perform. This creates an environment in which the employees can work together easily without confusion and make decisions as well as perform their individual tasks to an acceptable standard. These characteristics also have negative attributes and can encourage groupthink, where ‘independent critical thinking and objective moral judgment will be suspended in deference to group norms and in observance of group consensus’ (Harrison, 1999:184).Setting particular roles may also create a reliance on particular group members and if they are not present or leave, then the group suffers and is not able to operate without the person carrying out their tasks. A similar issue that is present with these three characteristics is the reduction in innovation as the g roup has set standards of behaviour and expectations the need or ability to generate innovative responses is reduced. Lack of innovation and individual thinking is also an issue with conformity.In order to demonstrate that the group is performing well and in order to reduce conflicts, individuals conform to the group’s suggestions and decisions (Popova, 2012). While this may be beneficial in the sense of reaching decisions and working cooperatively in order to achieve goals, it limits the effectiveness of the group and the results of the group could be the same as that of an individual. Another positive aspect of Yellow Autos investment in human resources is the group interaction achieved through this program.As the employees train and work together communication and teamwork skills are improved which results in a greater ability of the group to work together in order to achieve organisational goals. It also allows employees to understand how to use each individual’s s kills and abilities in order to improve the decision making process and produce superior outcomes. Recommendations The decisions made and the decision making process in the case study are open to criticism.The result of these decisions however demonstrates that the correct steps were taken in order to achieve and exceed the organisations goal of an increase in market share to 50%. In light of the success of Yellow Autos decisions there are still various recommendations that can be made including: a more consultative decision making process for high risk decisions, a hybrid management style, a different set up for job descriptions and quality management for human resources activities.. Firstly the decision to increase market share to 50% was a high risk decision which had potential to highly negatively impact the company.Due to the nature of this decision as high risk and potential impact to the majority of employees Yellow Autos managers should have not made this decision alone. Ins tead this should have been a consultative process with employees and academics to discuss the potential impacts and rewards of the decision. This will lead to motivation for the employees as they have been a part of this decision as well as increase in commitment to the company as the employees can feel valued by the organisation as they are playing an active role in its future (Teale, 2003).Secondly, the company’s management style began as autocratic and then changed to democratic at the request of the academics. Yellow Auto should not just use one management style, but a hybrid of the two in order to effectively make and enforce decisions. By using a hybrid management style the top managers can decide the level of employee consultancy depending on the nature of the decision and its affect on the company and employees.This will ensure that the right amount of employee contribution and new ideas are gathered as well as coming to a timely and efficient solution. Another recomm endation is how the job descriptions are set. While ensuring tasks are not overlapping and there is an understanding of employee’s roles and responsibilities are necessary, the job descriptions should not be written in a way that restricts the employee’s activities or discourages flexibility and initiative.Finally with the heavy investment in human resources Yellow Auto needs to ensure that these activities are quality controlled and that the group interactions and decision making activities are effective. For example this means that issues such as conformity need to be addressed and such as demonstrated in the Asch Paradigm in which managers can encourage individuals to speak up, which then in turn enables other employees to snap out of conformity (Popova, 2012). ConclusionA number of critical decisions have been raised in the case study including the decision to increase market share, change in management style, clarify job description and invest greater time and mon ey in human resources. The decision making process involved in reaching these decisions and the potential positive and negative outcomes have been analysed from a sociological perspective. The case study has demonstrated that these decisions have yielded the desired result of an increase in market share and had many other benefits towards the company.Even so various recommendations have been made in order to improve Yellow Autos decision making process and improve the successfulness of the company. Reference List Ayson, S. (2012). Managing Under Uncertainty: Sociology of Decision Making, Lecture Slides. Harrison, F. (1999). The Managerial Decision-Making Process. 5th Ed. Houghton Mifflin Mathis, R. (2010). Human Resource Management 13th Edition. South-Western Cengage Learning Onis, Z. (2006).Beyond the 2001 Financial Crisis: The Political Economy of the new Phase of Neo-Liberal Restructuring in Turkey. Retrieved October 19, 2012, from http://www. cesran. org/Dosyalar/MAKALELER/ZIYA_ ONIS_Beyond_the_2001_financial_crisis. pdf Popova, M. (2012). Elevator Groupthink: A Psychology Experiment in Conformity, 1962. Retrieved October 19, 2012, from http://www. brainpickings. org/index. php/2012/01/13/asch-elevator-experiment/ Teale, M. (2003). Management Decision-Making: Towards an Integrated Approach. Pearson

Assessment of the Camel Cigarette Promotion and the Impact of Medical Doctors in Advertisements by Cigarette Companies

Assessment of the Camel Cigarette Promotion and the Impact of Medical Doctors in Advertisements by Cigarette Companies â€Å"More Doctors Smoke Camels†, But Does it Matter? An Analysis of Camel Cigarette Ads The 1940’s presented a far different version of America then we live in today, smoking was not only a widely accepted pastime, but many people didn’t even consider it a bad habit. While there were a few studies that had linked smoking to bad long-term effects they were few and far between and so, the habit was much more popular at the time. In 1946 the RJ Reynolds Tobacco Company produced a pro-Camel Cigarette Ad that seemed, at first glance, to be nothing more than a typical ad but upon closer examination it became clear that the ad used elements, such as a doctor, to give consumers a subconscious sense that purchasing Camels could actually benefit them somehow – almost as if the doctor were prescribing them Camels. The ad’s aesthetics create a medium where producers have highlighted certain features of their product as â€Å"important† whilst using misleading imagery to further their agenda of selling the product. The highlight of the ad seems to be the doctor, who dominates nearly half of the advertisement; his presence creates a sense of comfort and a false allusion of benefit to purchasing Camel cigarettes. As a typical consumer would you not assume that, â€Å"if doctors think it’s ok, it’s probably ok†? The use of a doctor almost implies that, as is his job, the doctor is prescribing the Camel’s to the consumers viewing the ad. Along with the doctor the ad includes a section that describes the study conducted and it’s results. These results are simple white text on a black background, so they pop, and a pack of camel cigarettes are featured next to the textual blurb, as a means to simultaneously show the consumer what a pack of Camels looks like, and to remind the consumer they are looking at a Camel ad. Lastly, in what seems to be an effort to broaden their market, the ad includes a female who references her â€Å"T-Zone†, a makeup term that is aptly reapplied to suit the producers need to sell cigarettes, but still has ties to the doctor and how he may influence women in their purchasing of cigarettes. Overall the ad uses very basic methods to appeal to those who don’t plan on further analyzing the ad and its content. The doctor used in the Camel cigarettes ad seems to communicate a sense of comfort and lull the average consumer into a state of ease, as most people would believe that what a doctor claimed to be true was true. Visually the doctor in the ad is what one would describe as the â€Å"typical wise man†. He’s old, as notable by his old, wrinkled appearance, and his greying hair. His age would imply he’s been a doctor for a significant period of time and not a newcomer to the field, and this, would further indicate that his opinion is based on years of experience, which ads further validity to what he is saying. Comparatively, the doctor is drawn in a much more detailed manor than the other character, the woman, featured on the ad as is expected due to the fact that he is the true focal point of said ad. His wrinkles are defined and his skin has a much more natural gradient – again, adding to the overall notion that this doctor and the fact that he is an experie nced doctor, are part of marketing these cigarettes. On top of visually portraying the doctor as a wise and astute man, the text bubble that accompanies the doctor refers to doctors as, â€Å"one of the busiest men in town† and â€Å"a scientist, diplomat, and friendly sympathetic human being†, each of which carry positions of influential power towards the consumer. A scientist’s opinion might be trusted when possible effects of the cigarette are being debated, a diplomat when logistics and cigarette sales are being debated, and a sympathetic human being’s when one is simply looking for a friends advice. The ad uses the doctor as a means to create someone that the typical consumer can trust, sympathize with, and believe, in doing so they also create the ideal person or people to market their Camel cigarettes. In terms of marketing for the specific brand of cigarettes, Camels, the ad places them in a variety of eye-catching places to draw, what one would assume to be, the first glance of the consumer. One cigarette sits in the doctor’s hand, and although it isn’t marked as a Camel cigarette it is still drawn to stand off of the background. Despite the fact that the doctor is wearing a white coat, the contrast between the white cigarette and the coat is still quite high, as to further highlight the cigarette. The name â€Å"Camel† is once again mentioned in large font below the image of the doctor in the tagline, â€Å"More Doctors Smoke Camels Than Any Other Cigarette†, not only does the tagline further support the claim that doctors are being used to persuade buyers to purchase cigarettes – note the bolded â€Å"M.D.† But it also shows that the Camels, although the product being sold, are secondary to the message. After appearing several times in the text blurb at the bottom of the ad the â€Å"Camel† cigarettes again pop up in the form of an image next to the aforesaid blurb. Yet again the cigarettes – now specially marked as Camel – stand out against the white background they are set on, despite the fact that they to are white cigarettes. As a whole, the ad highlights the cigarettes, specifically camels, as something good and worthwhile that a doctor might prescribe with his thoughtful and informed opinion. In an effort to broaden their market the ad includes another â€Å"mini-ad† in the bottom right corner. The mini-ad features a woman holding a cigarette – that once again is highlighted from both her and her background – to market the cigarettes to other women. â€Å"Your T-Zone Will Tell You/T for Taste/T for Throat†¦Ã¢â‚¬  is how the ad goes about expanding its influence with the T-Zone referencing a commonly used term when amongst women who frequently use makeup. However, unlike the makeup T-Zone, the ad moves the T-Zone downward to include the mouth and the throat in an effort to associate women as a whole with smoking and not correct application of makeup. Although it may seem disconnected at first, the mini-ads reinforcement of the fact that Camel’s won’t affect your throat is something a doctor would back, furthering the notion that the doctor, although not highlighted in this sector of the ad, plays an integral role in why Camelâ€⠄¢s are the best cigarettes to smoke. This Camel cigarette ad falsely uses the pedestal many place doctors and their opinions on as a means to promote their cigarettes to a larger audience. Seeing as the ad is from 1946 it’s consequences are already known to the world we live in today, we now know that smoking causes a plethora of issues in ones later life and cigarette smoking is far from a commonly accepted pastime. In terms of the this specific Camel cigarettes ad and how it may have played a role in changing society it would seem that, due to their misperception, many people were duped not only into buying cigarettes, but specially Camel cigarettes. With this notion in mind one could also adopt the idea that those who purchased the Camel’s on the â€Å"doctors orders† may have eventually developed a mistrust in doctors due to the repercussions of smoking. The RJ Reynolds Tobacco Company’s Camel cigarette ad uses doctors, their trustworthy nature, and their position of power amongst the average consumer to market their Camel cigarettes as the best on the market. The ad, produced in the 1940’s, uses the already widely recognized pastime of smoking cigarettes, and the extensively accepted notion that people trust doctors, particularly those with experience, to market and sell their cigarettes as the best on the coattails of a doctor-like prescription.

HW Essay Example | Topics and Well Written Essays - 250 words - 5

HW - Essay Example Gestures have been used effectively as well; the movement of the fingers to indicate the turning on of a vehicles ignition key at 0:03, the movements of the feet to indicate engagement of the gear pedals (0:04), hand movements to indicate the turning of the steering wheels (0:12), the circling of the hands by the two ladies to demonstrate the position and use of seatbelts (0:44), the bending and splashing away of the contents on the stool to show the effect of inertia (0:56). Body positions have been used as well but not as effectively as possible. The ladies sitting position (0:08) indicate relaxation, and towards the end it indicates the urgency of the moment (1:08), their position indicates relaxation (1:16). Thus, non-verbal communication was effectively used in the advertisement. The choice of non-verbal communication by the creators instead of using words captures the attention of the viewer’s better since they are keen to get the message, and this ensures the message is communicated effectively. The message in the ad is that a man driving a car is involved in an accident and ends up not hurt because the seat-belts keep him safe. Had the creators decided to use verbal communication the advertisement wouldn’t have been as effective as it has been since non-verbal communication captures the attention of the viewer to the end by raising interest and curiosity in the viewer as opposed to verbal communication. I agree that the creators of this video clip have used non-verbal communication very effectively. Moreover, the clip demonstrated the importance of seatbelts to the safety of a person in a motor vehicle. Besides that, it also demonstrated how a seatbelt can preserve happiness and unity in the family and at the same time enhance safety. This is shown clearly at the end of the clip when the family members are holding each other with an expression of relief

Regulatory, Cultural and Ethical Dimensions to the Introduction of Essay

Regulatory, Cultural and Ethical Dimensions to the Introduction of International Accounting Standards - Essay Example According to the research findings companies are often placed under regulations with respect to international accounting standards to enable the accounting professionals to provide an honest and accurate financial image to company’s stakeholders. Through compliance with international accounting standards regulations, companies are bound to benefit from their investors’ confidence with regards to truthful and accurate reporting of the financial situation and performance of the company. More so, compliance to such standards would render financial information more understandable, reliable, comparable, and relevant among the users of financial information in assessing confidence in company management and making economic decisions. Regulatory dimensions of international accounting standards are subject to a two tier endorsement mechanism standards a technical and regulatory level. The regulatory level endorsement mechanism is based on proposals of local accounting commission s that decide on the levels and whether the International Accounting Standards are to be adopted. Local regulatory bodies aim to ensure that full accountability and transparency is achieved in financial reporting through both local regulations and compliance to International Accounting Standards. Countries and regions such as the European Union have enforced compliance regulations among its publicly listed companies to apply International Accounting Standards in preparation of their financial statements. ... The regulatory level endorsement mechanism is based on proposals of local accounting commissions that decide on the levels and whether the International Accounting Standards are to be adopted. Local regulatory bodies aim to ensure that full accountability and transparency is achieved in financial reporting through both local regulations and compliance to International Accounting Standards. Countries and regions such as the European Union have enforced compliance regulations among its publicly listed companies to apply International Accounting Standards in preparation of their financial statements. This is in a bid to improve transparency and foster efficiency in corporate functions in the interest of the public and more particularly, investors (Palea, 2006, p.7). On the other hand, technical level endorsement mechanism uses Accounting Technical Committees and advisory bodies made up of accounting professionals and experts from both public and private sectors. These professional accou ntants committees and advisory bodies seek to provide expertise and support that is needed to assess International Accounting Standards and to advise companies on whether or not it is suitable for them to adopt the standards according to local and country preferences and interests. However, there exist Generally Accepted Accounting Principles that encompass a wide spectrum of local and geographically dispersed accounting interests and preferences all over the world. The GAAP is a common set of accounting standards, principles and procedures that are globally applicable by companies in compiling their financial statements. More so, GAAP include a combination of commonly accepted practices and local board authoritative policies and standards of reporting

Discuss the range of possible outcomes if Shakespeare's advice of Essay

Discuss the range of possible outcomes if Shakespeare's advice of neither a lender nor a borrower be should become a general law - Essay Example Besides, it provides easy and cheap liquidity than other available lenders and intermediaries (Delaume 2012). In the event that Shakespeare’s statement was a general law, there would not be the expanded financial liberalization and enhanced volumes of private capital flaws in the developed countries that was characteristic of 1990s. The post crisis capital mobility in the developing world (especially in Asia) was as a result of four forms of capital inflows; portfolio investments, direct investment, bank loans and other investments. Bank loans in countries like Malaysia saw their economies grow from third world economies to second world status (Shin-Ichi, 2013). Loans that were advanced to the states through World Bank and IMF helped improve the overall economy of the nations and the welfare of their citizens. This would not be possible had Shakespeare’s statement been a general law. In domestic financial markets, banks are the most outstanding means of channeling savings to investments with the most favorable returns. In the event that the statement by Shakespeare became a common law, banks would not provide liquidity and permit efficient pooling of risks (Shin-Ichi, 2013). The fact that there are lenders and borrowers creates an environment that enables the activities of banks to alter the composition of capital in a manner that is potentially good for enhancing capital accumulation. Development of banks as lending institutions institutionalizes them as the gatherers of information about firms and reducing corporate myopia by conquering the quandaries associated with informational asymmetry (Shin-Ichi, 2013). The powers are given to the banks by depositors. These powers have led to availability of valuable information that helps a firm engage economically with another. Had lending and borrowing been absent, such powers would not be within the reach of banks. Economic development and

Can parents who abuse drugs and alcohol be good enough parents Essay

Can parents who abuse drugs and alcohol be good enough parents - Essay Example In 2006, a study revealed that about 5% of all adults in the UK are alcohol-dependent with one out of 24 parents drinking heavily; these figures put about one million children living with alcoholic parents (In the news, 2006). The Institute of Alcohol Studies (2009) also revealed in their latest statistics that 22.1% of children in the UK are living with alcoholic parents; and about 8% of children in the UK are living with parents who are drug abusers. Moreover, 3.6% of children live with parents who are both alcohol and drug abusers (Institute of Alcohol Studies, 2009). In other words, these children are put at risk of being exposed to neglectful and abusive parents. Alcohol abuse and substance abuse potentially affect entire families and these are also habits which, if not stopped, are often passed on from generation to generation (In the News, 2006). With the above considerations, this paper shall now answer the question: can parents who abuse drugs and alcohol be good enough pare nts? This discussion shall use relevant literature, theoretical frameworks and research findings in order to come up with a thorough and critical understanding of the subject matter. Various studies and researches shall be evaluated in relation to this subject matter, analysing them for validity and credibility. Drugs and alcohol have different effects on different people. Shaw points out succinctly that â€Å"the good and bad effects of alcohol lie in complex psychological and sociological continua...Concepts of use and abuse have therefore been open to equally wide interpretations† (Shaw, 1978, p. 41). The effects of drugs and alcohol largely depend on a person’s physiology and sociology. Indeed, the adage, â€Å"being able to handle one’s drink† is appropriate in determining the effect of alcohol on a person. Some people may be able to handle their drink well, and others, not at all. Nevertheless,