Skeletal Muscle Undergoes Repair and Regenaration Throughout Free Essays

|21 | Coursework R: Mini-Review Topic Selected: Topic 2: â€Å"Skeletal muscle experiences fix and regenaration for the duration of ordinary life. Compose a survey on the procedures in question, accentuating the job of satellite cells. † Muscle Cell Regeneration and the Impact of Aging Introduction: Throughout ordinary life, skeletal muscles experience fix and recovery in light of injury through a procedure including a few successive advances. We will compose a custom article test on Skeletal Muscle Undergoes Repair and Regenaration Throughout or on the other hand any comparative point just for you Request Now A significant job in this recovery is played by satellite cells, which are little mononuclear forebear cells found in develop muscle tissues. In this survey, we will investigate the results of maturing in satellite cell numbers and their capacity to keep up and safeguard muscle tissue. Steps included when skeletal muscle is harmed: The homeostatic procedure that permits muscle recovery because of a physical issue boost, includes four interrelated advances: degeneration, aggravation, recovery and redesigning fix. At the point when myofibers are harmed, extracellular calcium streams into the cell, starting proteolysis, which causes corruption. The rot of myofibers realizes a fiery reaction where neutrophils and macrophages penetrate the harmed site. Neutrophils are the first to show up; they evacuate cell flotsam and jetsam by discharging free radicals and proteases just as emitting ace fiery cytokines that invigorate the appearance of macrophages. There two unique classes of macrophages showing up at the harmed site: M1 (communicating CD68) and M2 (communicating CD163). The M1 class is answerable for creating a high grouping of professional incendiary cytokines, which advance further tissue aggravation. Showing up straightaway, is the M2 class of macrophages that incite angiogenesis and tissue redesigning and fix, by enacting immature microorganisms. This period of aggravation is basic to the muscle recovery process. Examinations have indicated that in the event that the irritation reaction is repressed, at that point muscle fix can't happen by any stretch of the imagination. By and by, there must be a harmony among lacking and unreasonable aggravation reaction. The regenerative stage is accomplished by the actuation, multiplication and separation of satellite cells that combine to frame multinucleated myotubes. This is controlled by the nearness of various development factors, for example, insulin-like development factor-1 (IGF-1), hepatocyte development factor (HGF) and others. The last period of the regenerative procedure is ‘remodelling and repair’ and it includes the rebuilding of connective tissue, angiogenesis and practical recuperation of the skeletal muscle. How does this occur? All things considered, when the muscle is harmed, there is an extreme creation of collagens that elevate scar tissue to shape. This is alleged fibrosis arrangement is initiated by changing development factor-? 1 (TGF-? 1), which assumes a significant job in this course. This stage is over once the harmed muscle has been supplanted by a useful and contractile device. Figure 1: [pic] Fig. 1 shows the means required for a satellite cell to shape a myotube. (www. bioscience. organization) The job of satellite cells: Satellite cells (distinguished utilizing electron microscopy) are situated under the basal lamina and are a kind of muscle foundational microorganisms. They are available in muscle tissue in the peaceful frame and can be actuated by both physiological boosts, (for example, broad exercise), just as obsessive conditions (injury or degenerative malady). Their principle work is to make a populace of myoblasts that can intertwine with one another or with different myofibers and separate, in order to fix muscle tissue. Both calm and dynamic satellite cells express the interpretation factor Pax-7 that is thought to drive translation and look after multiplication. Despite the fact that the job of Pax-7 isn't totally comprehended, it is apparent that without it, we would not have satellite cells. Truth be told, a trial demonstrated that mice lacking Pax-7, didn't make due past about fourteen days. Also, actuated satellite cells express a protein called myogenic administrative factor (MyoD), which is a pivotal factor in managing the separation of muscle cells. Effect of maturing in muscle degeneration: Hypothetically, despite the fact that the quantity of satellite cells diminishes with age, the couple of cells remaining ought to be sufficient to start the regenerative system. Notwithstanding, tests have demonstrated that the encompassing tissue and fundamental condition to which the satellite cells were set, were unmistakably more significant elements for muscle recovery than the quantity of cells present. This theory was upheld by the way that old muscle tissue could be recovered when it was put in a youthful creature, yet the inverse didn't happen. Consequently, the theory that the decline in satellite cell numbers because of maturing was the main consideration that influenced recovery was end up being incorrectly. Figure 2: [pic] Fig. delineates the contrast between an ordinary myofiber and a recovering myofiber. (www. bioscience. organization) Conclusion: All on the whole, sarcopenia modifies the recovery and fix of muscle, which can cause basic variations from the norm. Maturing causes a sensational reduction in satellite cell numbers and diminishes their capacity to fix harmed muscle. Despite the fact that youthful foundational microorganisms applie d to matured or harmed skeletal muscle appear to be encouraging for restorative applications, we should increase a superior comprehension of satellite cell science so as to utilize regenerative medication to treat sarcopenia. Book reference: Carosio, S. , Berardinelli, M. G. , Aucello, M. , Musaro, A. (2011) Aging exploration surveys. Effect of maturing on muscle cell recovery. 10: 35-42 Kierszenbaum, A. L. , (2007) Histology and cell science: A prologue to pathology (second Ed. ). Philadelphia: Mosby. 7: 197-210 Crowe, J. , Brdashaw, T. (2010) Chemistry for the Biosciences. The basic ideas. (second Ed) Oxford University Press. 9(3): 270-272 Satellite Cells. [Online]. Accessible from: http://www. earthy colored. edu/Courses/BI0032/adltstem/sc. tm [Accessed 6 December 2011] Zammit, S. P. , et al (2006) Pax7 and myogenic movement in skeletal muscle satellite cells. [Online]. Accessible from: http://jcs. scholars. organization/content/119/9/1824 [Accessed 7 December 2011] Seime, A. , Caron, A. Z. , Gremier, G. (2009) Frontiers in Biosciences:Advances in myogenic cell transplantation and skeletal muscle tissue designing. [Online]. Accessible from: http://www. bioscience. organization/2009/v14/af/3431/fulltext . asp? bframe=figures. htmdoi=yes [Accessed 7 December 2011] Word tally: 747 Instructions to refer to Skeletal Muscle Undergoes Repair and Regenaration Throughout, Essay models

Stress Among College Students Essays -- College Students Education Str

Worry Among College Students Venturing out from home just because and leaving for school can be exceptionally hard for certain individuals. As a rule for school rookies this is their first time being ceaselessly from their home and guardians. Ordinarily they return home wiped out and need to disconnect themselves. They need to get into another daily schedule of going to class, and change can be extremely troublesome. It is certainly difficult to get into the swing of school. They need to explore through classes in another arrangement while living ceaselessly from all the solaces of guardians. A school student’s life typically comprises of going to classes, extended periods of time of considering, working at a vocation (now and then), and having a public activity. A few understudies work at a vocation or study harder than others, yet they are on the whole attempting to get degrees so perhaps one day they will have important and critical lives. It is a consistent battle for each and every individual who is attempting frantically to make oneself into a triumph. Furthermore, every undergrad needs to be engaged with something so as to promote their training, or simply have some good times. There are bunches of new open doors out there. The battle comprises of requests on schedule, monetary weights, parental weight and clashes, relational clashes, overseeing opportunity, companion and scholarly weight and the transitional period to another scholastic condition (Stanford University 4). These variables consolidated can cause enthusiastic unsettling influences and one of the most widely recognized is pressure. Stress is the thing that you feel when you are stressed or awkward over something. This concern in your psyche can cause your body to feel awful. You may feel furious, baffled, terrified, or apprehensive. These inclination can likewise prompt you having a stomachache or a migraine. At the point when you're focused on you may not want to rest or eating. You additionally may feel irritable or experience difficulty focusing at school and recalling things. Having a little pressure can be acceptable at times, however when you’re in school that is rebelliously something you need to monitor. Another explanation behind pressure is the monetary strain an individual can encounter when attempting to advance in school. Figuring out how to spending cash is one of the most practical exercises of going to school. This is one all the more way an understudy may feel helpless. Money related weight is the main motivation behind why understudies drop out. An undergrad may get diverted with work s o as to live comfo... ... trouble is giving understudies a sentiment of power over their instruction, data about what's in store, and criticism with respect to what should be possible to improve their presentation. Understudies who don't feel defenseless will embrace their own adapting methodologies. Understudies shouldn’t let their school years trouble you. Perceive circumstances that may cause pressure, create compelling approaches to oversee pressure and look for help on the off chance that you need it. Works Citied Liquor and other medication misuse. 30 Nov. 2004. American Medical Association. 6 Dec. 2004 . Hudd, Suzanne S. â€Å"Stress at College Effects on Health Habits, Health Status and Self-Esteem.† College Student Journal. June (2000). Vol. 34, Issue 2 Ross, Shannon E. â€Å"Sources of Stress Among College Students.† College Student Journal June (1999). Vol. 33, Issue 2 Stanford University. â€Å"Coping With Stress.† http://www.Ieland.Standford.edu/gathering/cawell/srticles/stressarticle.html Struthers, C. Ward. â€Å"An Examination of the Relationship Among Academic Stress, Adapting, Motivation, and Performance in College.† Research in Higher Instruction. Oct (2000). Vol. 41 Issue 5, p581.

How Have Movie Stars Salaries Changed Over Time

How Have Movie Stars Salaries Changed Over Time How Have Movie Stars Salaries Changed Over Time? How Have Movie Stars Salaries Changed Over Time?Movie star salaries have actually gone down in recent decades, but dont worry, shares of the box office have been keeping Hollywoods biggest stars in the green.With the Oscars coming up, it’s a great time to reflect on the glitz and glamor of Hollywood. Many people would suggest that movie stars are a bit overpaid, including famous adamantium-clawed Australian movie star, Hugh Jackman.But many of those same people are still enthralled by their lifestyles and wealth.  So let’s just indulge that fascination for an article or so and find out how movie star salaries have changed over time. Before we dig in, let’s just address some possible ambiguity of how movie stars make their money.“Keep in mind that many movie star ‘salaries’ are now achieved through TV, endorsements, etc.,” explained director, producer, and author Dan Mirvish. “For many actors, they take a cut in salary to work in awards-caliber and independent films. S tandard wages on an indie range anywhere from as little as $125 a day (SAG Ultra Low Budget scale) to $70,000 for a total shoot (this is called SAG Schedule F and is a standard for many films).”The Golden Age.Cinema’s earliest stars weren’t often individuals. They were a train coming out from a tunnel or a group of workers leaving a factory. La Voyage Dans La Lune might have been one of the first sci-fi films, but the only face you could probably recognize from it would be Bleuette Bernon, and even then only if she was wearing white face paint and had a spaceship in her eye.However, you wouldn’t have known that’s who the moon was from watching the credits. Because there were no credits. Early silent films rarely, if ever, credited the actors who appeared in them. That is, until  Florence Lawrence.The early studio heads were worried that crediting actors and actresses would cause them to gain a level of notoriety that would allow the performers to demand higher wages. But C arl Laemmle, founder of Universal Studios, decided to try the opposite approach. After secretly spreading a rumor that actress Florence Lawrence had died in a streetcar accident, he took out ads “debunking” the rumor and revealed that she was actually still alive. He then gave her the first American screen credit for her starring role in The Broken Oath. This was the beginning of the “star system” and the origin of movie star salaries.Before working for Laemmle, Lawrence had been earning $25 a week from director D.W. Griffith. That’s about $660 today. Within a couple years The Broken Oath debuting, Lawrence was earning $500 per week,  the equivalent of $624,000 per year when inflation is factored in.Soon afterward, a British comedian by the name of Charlie Chaplin made his way to the United States. After a quick rise to fame, Chaplin was able to sign a studio deal that provided him with a $150,000 signing bonus and $10,000 a week salary. Or, to put it in modern terms, a $3 ,658,733 signing bonus on top of $243,915 per week.Through the mid-century.While many Americans lost their livelihood during the Great Depression, movie star salaries stayed high. Gary Cooper, star of Souls at Sea and Mr. Deeds Goes to Town earned $370,214 ($6,455,786 today) in 1937.Salaries continued to hover around that area after World War Two. Charlton Heston, for example, was paid $250,000 in 1958 ($2,172,205 in modern money) just for appearing in Ben Hur. The following year would set a new record for salaries, however, when Elizabeth Taylor said she would only appear in Cleopatra for $1,000,000 ($8,629,100 now), though delays in filming brought her total compensation up to $7,000,000 (currently $57,442,739) by the end of production.A payout that huge was still the exception, but salaries would get a jolt in the decades to come. Why? Two big reasons were the growth of big franchises and stars getting a cut of the box office. And one movie, in particular, is a good representatio n of both.Leave the money, take the points.  Although stars had been cutting deals to get a percentage of a film’s profits since the silent days, it wasn’t until the age of the blockbuster that these deals really started printing money for the actors who signed them.One of the most famous Hollywood paydays went to Jack Nicholson, for his role as The Joker in Tim Burton’s Batman. At the time Batman was being cast, Nicholson’s standard fee was $10,000,000. But for Batman, he agreed to take $6,000,000 so that he could get a cut of the box-office AND the merchandise sales. This gamble paid off for Nicholson many times over, as he earned around $60,000,000 (around $121,503,306 today) in total from the caped crusader caper.But Nicholson didn’t appear in anymore Batman movies. As Robert Downey Jr. showed, you’ll start really pulling in the big bucks once you’re a vital part of a multi-billion dollar franchise. His Marvel salaries are not definitively known, but the following is based on the reasonable estimates of those who cover the industry.When Downey Jr. was first cast in Iron Man, he was considered a bit of a risky proposition due to his longstanding struggles with addiction. To that end, he was paid “only” $500,000 for his starring role as Tony Stark. It was, of course, an enormous success that launched not only a franchise, but a cinematic universe. By the time Iron Man 2 rolled around, Downey Jr. was able to pull $10,000,000. When Avengers: End Game rolls out, Downey Jr. will have likely earned around $240,500,000 just from the Marvel films. That doesn’t even factor in his other roles during that time in franchises like Sherlock Holmes, which was profitable enough to justify a similarly profitable sequel.Of course, that’s across the span of an entire decade. If you’re looking for an impressive one-time check, Keanu Reeves’s box-office cut plus salary from The Matrix: Reloaded amounted to over $126,000,000 ($174,988,159 today), the la rgest single payout for one movie to this day. It was filmed back-to-back with Reloaded, so Reeves pulled in $206,000,000 ($286,091,752) for that one job.That all being said, as Mirvish mentioned up top, many movie stars don’t actually get the bulk of their income from starring in movies. George Clooney is a perfect example, who topped the list of highest paid movie stars in 2017, not for any role, but by selling his tequila brand for $700,000,000.It’s like that famous line says: there’s no business like show business, except the tequila business, which is apparently even more profitable. Enjoy the Oscars everybody! If you enjoyed this post, check out these related posts and articles from OppLoans:Is There a Secret Money Lesson Hidden In “The Wizard of Oz?”Horror Films Cost Very Little to Make and They Make a LOT of Money10 Money Lessons From the Worst Contracts in NBA HistoryMoney at the Movies: Which Avenger Gives Marvel the Most Bang for Its Buck?Have a personal finance question youd like us to answer? Let us know! You can find us  on  Facebook  and  Twitter.Visit OppLoans on  YouTube  |  Facebook  |  Twitter  |  LinkedIN  |  InstagramContributorsDan Mirvish is a director, screenwriter, producer,  and author. Hes just finished the award-winning, critically-acclaimed feature Bernard and Huey, scripted by Oscar/Pulitzer-winner Jules Feiffer, and starring Oscar-winner Jim Rash and David Koechner which screened in over 30 film festivals on 5 continents and is currently in theatrical release by Freestyle Releasing/Entertainment Studios in the US. Dan is the author of the bestselling non-fiction book The Cheerful Subversives Guide to Independent Filmmaking from Focal Press/Routledge. His film Between Us, an award-winning feature starring Julia Stiles and Taye Diggs, played in 23 festivals in 7 countries, and got a 50+ city theatrical release in the US, and sold to 144 countries, plus screening on Netflix, Showtime, Starz and all digital outlets. Dan was mentored by Robert Altman on his first film, Omaha (the movie), which led him to co-found the upstart Slamdance Film Festival. His film Open House prompted the Academy Awards to controversially rewrite their rules on the Best Original Musical category. Mirvish also co-wrote his bestselling, critically-acclaimed novel I Am Martin Eisenstadt based on the fake McCain advisor who took credit for Sarah Palin not knowing Africa was a continent. A former speechwriter for U.S. Sen. Tom Harkin, Dan has a masters degree from USC film school, is a member of the Directors Guild of America and has guest lectured at more than 25 film schools and universities.

Study On The Issues Behind Corporate Governance Finance Essay - Free Essay Example

Sample details Pages: 13 Words: 4012 Downloads: 1 Date added: 2017/06/26 Category Business Essay Type Research paper Did you like this example? Furthermore, Each of these frameworks approaches corporate governance in a slightly different way, using different terminology, and views corporate governance from a different perspective, arising from a different discipline for example the agency theory paradigm arise form the finance and economics whereas transaction cost theory arises from economics and organizational theory. Other frameworks, such as stakeholders theory, arises form a more social-oriented perspective on corporate governance  [2]  . However, economist were the first people to offer earliest CG definition as Noble laureate Milton Friedman defined CG the conduct of business in accordance with the shareholders desire therefore maximization of profits for shareholders. Don’t waste time! Our writers will create an original "Study On The Issues Behind Corporate Governance Finance Essay" essay for you Create order Although this definition is outdated now as the stakeholders theory is preoccupation in general CG context. However CG is a set of business techniques, processes, customs, polices, laws and institutions affecting the way an organization runs, directs and administers its business. Therefore CG ensures systems of check and balance to minimize the possible abuse of entrusted powers of members of an organizations along-with the compelling need of openness, integrity and accountability in all decision making process of the said organization.  [3]  Additionally, Boyle Birds  [4]  regard 1992 UK Cadbury Committee Report  [5]  ( In its Report on the Financial Aspects of CG, the Committee concentrated on the tripartite relationship between the board, auditing and the shareholders and was based on the principles of openness, integrity and accountability) as the most authoritative definition of CG that Corporate governance is the system by which business corporations are directe d and controlled. Thus it provides the structure, strategy and effective mechanism through which the company objectives are set, and the means of attaining those objectives and monitoring performance.  [6]  Furthermore, among others, a more wide and compact definition of corporate governance has been put forward by Parkinson (1994). According to him, Corporate Governance is the process of supervision and control intended to ensure that the companys management acts in accordance with the interests of shareholders. This definition has been largely accepted and strongly agreed  [7]  . Dignam et al argued that CG is a multi-faceted subject  [8]  therefore the most important theme of the CG, in my view, is to successfully meet the fundamental goals of an organization by fairly maintaining the relationship among organizations stakeholders. Majority of the codes relates CG to control as stemmed by the Cadbury Report however on the other hand the other theme can be stemmed is supervision of the organization or of management. Furthermore, many definitions relate CG to a legal framework, rules and procedures and private sector conduct. Whereas, on international sphere or codes define CG and encompasses relationships between shareholders, boards and managers. 2.2 The Theories of CG: Economical and Financial Foundations 2.2.1 Historical Perspective According to the Farrer, there are two rival schools of thoughts with respect to the use of history so as to explain the present by reference to the past. One, the traditional view of common lawyers, is to emphasis and perhaps to overemphasize the lessons we can learn from the past. The other, is the radical view of Jeremy Bentham in the early nineteenth century is that it is from the folly not the wisdom of our ancestors that we have so much to learn  [9]  . Hence I am with Jeremy Bentham. However, it became clear centuries ago that, individual entrepreneurs and their families could not provide the finance necessary to undertake developments required to fuel economic and industrial growth. Thus, the sale of company shares in order to raise the necessary capital was an innovation that has proved a cornerstone in the development of economies worldwide  [10]  . Listed companies in their present form originated from the earliest form of corporate entity, namely the sole trader . From the middle Ages, such traders were regaled by merchants guilds, which oversaw a diversity of traders  [11]  . Further, the internationalization of trade, with traders venturing overseas, led gradually to regulate companies arising form the mediaeval guild system. Therefore the members of these early companies could trade their own shares in the company, which led ultimately to the formation of joint stock companies. Therefore, the fist company to combine incorporation, overseas trade and join stock was the East India Company, which was granted a Royal Charter in 1600, for Merchants of London trading into East Indies. The early governance structures of this company were reminiscent of corporate governance structures and mechanisms in todays companies.  [12] The growth of Corporate Governance is, indeed, dependent with the economic development of industrial capitalism as different governance structures evolved with different corporate forms which are designed to pursue new economic opportunities or to resolve new economic problems  [13]  . Consequently the evolutionary expansion of the markets in the nineteenth century along-with technological advances increased the scale and complexity of the business organizations. As a result, the organizations grew in size and shareholders appointed directors or professional managers to succeed and make the business grow, as result, greater productivity, lower cost and higher profits. Consequently, directors or managers controlled the business irrespective of the ownership of the shareholders. Hence, in making decision and running affairs of the organization, the career managers preferred polices that favored the long-term stability and growth of their enterprises rather than those that maximized current profits. 2.2.2 Corporate Ownership Structure Corporate ownership structure has been considered as having the strongest influence on systems of CG although, according to Solomon, many others factors affects CG including legal systems, cultural and religious traditions, political stability and economic events. As all business enterprises need funding in order to grow, and it is the ways in which organizations are financed which determine their ownership structure. 2.2.3 Separation between Ownership and Control The early years of the 20th century saw another significant development when Ownership and Management of the big business organization was separated as result of taking over or replacement of multi-unit-business organizations over the traditional organizations. Shareholders were becoming more numerous and geographically diverse. Their links with the management of their companies were becoming more remote. Therefore using data from companies in the United States, Berle and Means offered the then more influential analysis of the development of corporate governance in the twentieth century  [14]  . They contend that growing concentration of economic power and an increased dispersion of the stock ownership make the corporation in which the separation of ownership and control had taken place central to economic activity in the US. In the preface to the 1932 edition of the work, Berle wrote: The translation of perhaps two-thirds of the industrial wealth from individual ownership t o ownership by large and the divorce of ownership from control and consequent on that process almost necessarily involves a new form of economic organization of society that vitally changes the lives of the property owners, the loves of workers and the methods of property tenure  [15]  . Berle and Means continued in their insistence of the revolutionary impact of the modern organizations upon economics, but through their work was instrumental in the practical policy achievement of Roosevelts New Deal in 1933-1940  [16]  . Whilst Berle and Means go beyond traditional legal and economic theory, to offer a new concept of the modern organizations that might have served as a foundation for a new theory of Corporate Governance. Therefore, among these new economics theory of the firm, agency theory became the dominant force in the theoretical understanding of corporate governance in the last decades of the twentieth century.  [17] 2.2.4 Nexus of contracts theory As Jensen and Mckling in their chapter 4 argued that agency theory mainly rests upon this contractual view of the firm  [18]  . Fama further argued that the firm is just the set of contracts covering the way receipts form outputs are shared among inputs. Therefore in this nexus of contracts perspective, ownership of the firm is an irrelevant concept.  [19]  Similarly some neo-classic economic theorists argued that the organization is not a real thing  [20]  therefore assert that corporations are nothing more than a collection of contracts between different parties primarily shareholders, directors, employees, suppliers, and customers. Proponents of this theory contend that all disputes about the obligations of a particular corporation should be settled by resort to the methods used to interpret contracts, and that courts should not imply the existence of fiduciary duties on behalf of corporate officers and directors.  [21] They further say that the only real actor s are the shareholders, employees, suppliers and so on who cooperate in the organization productive process. The business corporation or the firm is made up of the contracts with these groups. The company or corporation or firm is just an imaginary counterparty to the contracts with each of these groups. The aim of company law and corporate governance is just to minimize the cost of these contracts. Company law and corporate governance are just a type of contract. The question is whether the relationship with the shareholders, employees, suppliers or other contributors to the firms production should be governed by a standard contract or whether it should be regulated through corporate governance mechanisms. Getting the choice right will reduce the firms contracting costs and so make it more profitable. Economic and financial theory further suggests that it is usually appropriate for corporate governance to be used exclusively to govern the relationship with shareholders. The inte rests of the other groups (employees, suppliers etc) can be fully (and more cheaply) be dealt with through express contracts (and possibly by areas of law other than company law). Corporate governance would then concentrate on meeting the needs of shareholders. In particular, it will concentrate on overcoming the agency problem. 2.2.5 Agency Theory of Corporate Governance Separation between ownership and control indeed brought managerial revolution as result of which agency theory emerged from the seminal papers of Alchian and Demsetz  [22]  in 1972 and then later on Jensen and Meckling in 1976  [23]  . Alchina and Demsetz explained the organization as nexus of contracts among individual factors of production  [24]  . Indeed, an organization is a legal fiction which serves as a nexus of contracting relationships  [25]  but I agree with Alchain and Demsetz who argued that these organizational contracting encompasses not only businesses but entire framework of existence.  [26]  On the other hand Coase  [27]  characterized organization as an authority and further argued that it is not about behaviors or objectives of the firm it is like the behaviors of the market and the outcome of a complex equilibrium process of conflicting objectives of individuals  [28]  . Similarly, Agency theory argued that economics was able to analy sis the workings of the organization by explaining it as a constantly re-negotiated contract, contrived by an aggregation of individual each with the aim of maximizing their own utility  [29]  Shareholders investment is sunk This theory is based on the following observations: Directors are expected to act as agents for owners (shareholders); If they can, have incentives to cheat shareholders The separation of ownership and control common in UK listed companies makes it possible for directors to promote their own interests rather than the interests of shareholders. They need to give assurances to shareholders in advance The more reliable the assurances, the cheaper and easier it will be to finance the company Company law / corporate governance can provide these assurances Many aspects of UK corporate governance can be seen as being, at least in large measure, a response to the agency problem. Some theorists, however now argue that basing corporate governan ce and management exclusively on agency theory is positively harmful  [30]  . 2.2.6 Agency Relationship From this we can infer that there exists and agency relationship between shareholders (principal) and managers (agents)  [31]  . For instance, contract for performance of services on behalf of the principal Involving delegation of decision-making authority in pursuant of which agent should be bound by principals best interest. Therefore agency theory suggests that shareholders are the principal in whose interest the corporation should be run even though they rely on others for the actual running of the organization  [32]  . 2.2.7 Agency Problem Jensen and Mekcling suggest the essence of the agency problem is the separation of management and finance. For instance, mangers raise funds from investors to put them to productive use or to cash out their holdings in the organization. Whereas, investors need the mangers to generate returns on their funds. Furthermore, divergence of interest is also inevitable as agents interest primarily self-serving and opportunistic while Shareholder interest Self-serving and profit motive. As a result aggravated by asymmetry of information and uncertainty about the agent the day-to-day business. Additionally, moral hazard is bound to occur as agent has an incentive to act inappropriately from the view of the principal because the latter cannot costlessly monitor. Similarly, agent has incentives to consume private perquisites rather than invest in present positive value of the firm as a result shirking of responsibilities lack of effort and earnings retention. Therefore the growth of the or ganization and its prestige effects badly. Further, agents/managers favor short-term strategy and decision as an employee and pursue high accounting projects instead of long term projects, such as RD expenditure near CEOs retirement. More importantly, managers and shareholders attitudes to risk is also different, for instance managers are more risk thus try to minimize risky investment decisions. But on the other hand Fama and Jensen contends that separation of decision making and risk bearing functions survives in these organizations in part but an effective common approach to controlling the agency problems caused by separation of decision-making and risk bearing functions.  [33]  Because as a residual claimants shareholders bear the risk of the organization, making profit or loss and also have better interest in the allocation of corporate resources to make the largest residual possible. 2.2.8 Agency Cost problem monitoring costs Monitoring cost is the cost paid by the principal to measure, observe and control an agent. Such as cost of audit, of writing remuneration contracts and most importantly cost of firing. As if manager is fired it is shareholder who hast to suffer a lot according to path dependant theory. Furthermore, in case of breach of agency contract the cost of the of fully enforced agency contracts would be too high while the full contracting regarding managerial action is also not possible. 2.2.9 Solution; Implication for Corporate Governance Culpan and Trussle suggest that Corporate Governance is a set of mechanisms to resolve agency problems For instance finding the best monitor writing better contracts providing incentive mechanisms to align interests, risk-sharing devices to reduce monitoring costs as a result reduction in asymmetry of information  [34]  Furthermore, for agency theorist such as Jensen argued the effect markets are the solution  [35]  . Their main focus of the corporate governance is the elaboration and facilitation of market mechanisms that can mitigate agency problem, for instance, market for corporate,, management labor executive compensation like stoke option and corporate information  [36]  . 2.2.10 Tackling the agency problem Thus, company law in the form of directors duties, especially the duty of good faith and reporting and auditing requirements. Corporate governance, for instance the appointment of non-executive directors and fostering participation by institutional shareholders and market-based mechanisms such as the market for corporate control and the inclusion of performance-related elements in directors pay packages are all inspired by the need to create a system of sanctions and incentives that align directors interests with those of shareholders. Hence, the problem can be tackled in this way. 2.2.11 Critique of agency theory O Sullivan and Ghoshal and Moran criticize the agency theory on the following points: Reductionist understanding of human behaviour Reductionist understanding of the nature of a business enterprise Consequence is use of high-powered incentives that harm the business  [37] 2.3 Different Models of Corporate Governance its Debate. 2.3.1 Shareholder exclusive Protection Model of Corporate Governance (Anglo-American Model) Shareholder value is the concept that company law and corporate governance is to be seen as involving (in the last analysis) exclusively the interests of shareholders. According to this theory shareholders are the principal (agency theory) of the managers or directors therefore argue shareholders as the object of CG as shareholder input as capital providers therefore organization must to be run in their interest. Furthermore the main objective of CG should be to protect shareholders interest and primarily emphasis on directors/managers discipline. Moreover, shareholders as the best placed monitor and similarly hopes and expects for shareholder activism. Hence, organizations main founder are its shareholder who provide finance and capital to run the affairs of an organization  [38]  . In essence, this view suggests that the shareholders should be the exclusive beneficiaries of the governance protection. Directors who serve for the shareholders for their interests are regarded as the agent of shareholders  [39] Williamson also suggests that it is only shareholders who need corporate governance as the contractual mechanism to protect their investment therefore ccorporate governance (and company law) exist to protect the interests of shareholder  [40]  . This view suggests that there is no such thing as the firm: nexus of contracts. Hence the purpose of corporate governance is to reduce the costs associated with being and the shareholder and the separation of ownership and control is the main source of these costs. In this respect the purpose of corporate law is to anticipate what shareholders would have asked for in private bargaining. Therefore the only purpose of the firm is to make a profit as there is no mandatory terms in company law therefore no place for stakeholders in company law / corporate governance because in essence corporate governance (and company law) exist to protect the interests of shareholders However in the UK, the duty of g ood faith is understood to be a duty to run the company in the medium and long-run interests of shareholders. It can be contrasted with stakeholder theory which argues that other stakeholders (employees, suppliers, the community, the environment etc) are just as interested in the companys success and just as entitled to be looked after by its governance mechanisms. In the run-up to the Companies Act 2006, the Steering Group that advised the Government rejected a move to stakeholder theory. Instead, they adopted a pluralist or enlightened shareholder value approach. That is, the duty of good faith is still understood in shareholder value terms. Directors are reminded, however, that directors need to look after stakeholders responsibly if they are to promote shareholder value in a sustainable way. 2.3.2 The Stakeholder Protection Model of Corporate Governance Model (European Model) The broad view encompasses the stakeholder theory are argues that the organization exists in a network of relationships therefore argues that there are many inputs to the business which are also equally important. Additionally this view suggests that the purpose of business is more than shareholder profit and emphasized that the CG is a mechanism to balance all interests and thus eensure healthy business and a healthy contribution to society. Stakeholder theory was not adopted by the UK although the new Companies Act as well as the Combined Code acknowledge that directors have to cultivate good relationships with relevant stakeholders. One of the reasons for the rejection of an outright move to stakeholder theory is that it would make the agency problems worse. Directors would be able to use their powers to further their own interests but hide behind stakeholder theory (arguing that although they are not acting in the best interests of shareholders they are promoting the good of other stakeholders), Some would reply that directors have been able to use agency theory and shareholder value to promote their own interests (especially in the area of executive pay). 2.3.3 State Oriented Model of Corporate Governance The main trait of this corporate governance system model is a important role of a small number of founding families and the persistent character of the state on the other. The founding families and their allies usually exercise control over an extensive network of listed and non-listed companies. They are often shielded from risk by directly holding only a limited number of shares. Most of the rest is held by other corporations in the group or other friendly agents. Often, a minority is floated on the local exchange. The families that control the Korean chaebols own an average of less than 15% in group companies, the rest of the controlling blocks being held by other affiliates in a complex web of cross shareholdings. A common characteristic of such systems is that the concept of limited liability, i.e. the separation between the shareholders and the corporation (which has its own decision-making mechanism and assets/liabilities), is weak. In Greece, it was standard practice for the banks to ask for guarantees by the individual family shareholders for the granting of loans. In Korea, one of the most important hidden liabilities within chaebols was the cross-guarantees for bank loans between chaebol affiliates. All decisions related to the strategy of different affiliates within the group, including the ones that are publicly quoted, are taken by a small group of family-related individuals in an informal way i.e. outside the governing instances of the corporations (board and general meetings). Sweden is an example of a traditionally family-dominated ownership system USA 2.3.4 Anglo-American Modal Vs. European Modal 1. Management dominated Controlling shareholder dominated 2. Shareholder focused Stakeholder focused 3. Wide public share ownership less wide public share ownership 4. Strong shareholder rights less strong shareholder rights 5. Unitary board structure Two-level board structure 6. Single powerful leader consensus or divided leadership 7. Shareholder litigation culture Less strong litigation  [41] Chapter 3: Corporate Governance is todays issue; Its Debate and Implication. Lipton and Rosenblum argued that Corporate Governance is a means, not an end. Before we can speak intelligently about corporate governance, we must define its goals.  [42]  Drawing the control separate form the ownership is inevitable for the 21th centurys organizations to survive or to foster. Although there arises potential opportunities for the managers to utilized the owner assets to chase their own benefits and it is where the agency cost or agency problem occurred. Therefore, to discipline the directors or managers activities and to reduce the agency cost ensuring managers accountability to the shareholders and the protection form hostile takeover are crucial functions for the CG. Lipton and Rosenblum hold it as Managerial discipline Model  [43]  although they disagree with this purpose of CG but rather argue that the ultimate goal of corporate governance is the creation of a healthy economy through the development of business operations that operate for the long t erm and compete successfully in the world economy. They further suggest that corporate governance is a means of ordering the relationships and interests of the corporations constituents: stock- holders, management, employees, customers, suppliers, other stakeholders and the public. However, I agree with the Lipton and Rosenblum to the effect that what is needed is system that will lead managers and stockholders to work cooperatively towards the corporations long- term business success.  [44] CG debate is a reaction of the corporate scandals so as to search a good corporate governance system as investor presumes and relates profit is imperative if the good CG is in place. Additionally, it is a strong perception of correlation between good corporate governance and overall economic success. Stephen Griffin says that these debates, discussion and government intervention into issues of corporate governance are the natural consequence of the economic and social impact which organizat ions affect in the generation and maintenance of personal and national wealth and prosperity.  [45]  Furthermore, this interference is driven by both an economic and political desire to rid the corporate infrastructure of systems and practices which may give rise to potentials for like or future failures and scandals. More importantly, in seeking to clear up a corporate mess a governments objective will be to calm and reassure investors, corporate players and markets, thereby protecting economics stability and the general public interest. 3.1 Mutually Agreed Principals of CG Honesty, trust and integrity, openness, performance orientation, responsibility and accountability, mutual respect, and commitment to the organization are the general key principals of the CG. However commonly accepted principle CG are as under Respect the Rights of the shareholder and coordination with respect to exercise of those rights and equitable treatment of shareholders Recognition of the Interests of other stakeholders Fulfillment of the responsibilities of the board: Integrity and ethical behavior: Disclosure and transparency  [46]  : 3.2 Issues involving corporate governance principles include: internal controls and internal auditors the independence of the entitys external auditors and the quality of their audits oversight and management of risk oversight of the preparation of the entitys financial statements

Analysis Of The Book Into The Wild By Jon Krakauer

Rebellions can have both a negative and positive outcome not matter what the cause. In the book â€Å"Into the Wild†, written by Jon Krakauer, the character Chris McCandless embarks on a journey of ultimate freedom and exemption. Washington and McCandless are similar because they did something most people would not. They both stepped out of the ordinary society and decided to do what they think is best. For example, Washington led the Continental Army against the great British Empire, and Chris left his normal and traditional life, to seek a life of adventure and determined to go on a journey across the United States. Washington became the first president of the United States. Washington was also the only one qualified to defend and lead our†¦show more content†¦Without Washington, we may never have won the Revolutionary War, and our country would not be the same today. Washington won the war for us, and only he could’ve done that. â€Å"Washington’s gr eatest wartime legacy was his decision to surrender his commission to Congress, affirming the principle of civilian control of the military in the new United States† (Ebscohost). Washington never had to leave or give up his title as general or president of the United States. Washington hoped to free the 13 Colonies from a new revolution. â€Å"The American Revolution had led to increasing philosophical and political differences between Great Britain and its American colonies† (The Road to Valley Forge). Washington and the United States defied the British and their dictatorial rule over themselves and started a war that made it possible to create the Declaration of Independence and the Constitution. â€Å"McCandless describes what he is looking for on his odyssey, particularly on the Alaska trip, as ‘ultimate freedom’. It would seem that this largely represents, to him, freedom from other people’s rules and authority over him†. McCandless wanted to live a life free of people always telling him what to do and giving him â€Å"orders† all the time. Even though McCandless lived a smooth and effortless life, he still wanted the ability to do things himself. Washington wanted the create a new country free from British rule and oppression. â€Å"George Washington hoped to become a free nation andShow MoreRelatedAnalysis Of The Book Into The Wild By Jon Krakauer1106 Words   |  5 PagesTaste of Adventure Changing your life should not be to run away from your problems; but to do what is best for you. In Into the Wild (1996), Jon Krakauer writes this biographical novel in order to inform readers about a young man named Chris McCandless, who changes his name to Alexander Supertramp, and his identity. Raised in a middle class family with both parents in the suburbs located in Washington, D.C. 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Supreme Court Case Wisconsin Vs. Theu.s. - 2219 Words

Alina Ramos Mrs. Heyl US Government Honors 2 December 2014 Supreme Court Case: Wisconsin vs. Yoder The United States Founding Fathers built this country, the United States, around three branches of federal government: Legislative Branch, Executive Branch, and Judicial Branch. All three of these branches contain equally amount of power. Also these branches are granted the power to keep the other branches from gaining too much power. The Executive Branch has the power to veto a bill, while the Legislative Branch has the power override the veto. But some will say that the checks and balances that the Judicial Branch has are most important checks and balances of all three branches. The Judicial Branch is made up of all the court systems in the United Sates (lower and federal courts). The highest court is the United States Supreme Court; their mission â€Å"to enforce the Constitution and the laws of the United States and to resolve legal questions that arise over how these laws are to be interpreted.† (Savage 981) How does the US Supreme Court do this? By taking great â€Å"legal questions of the day† (Savage 982) or case and making a decision. But the US Supreme Court is very picky on what case to take. They only take cases that involve with the federal law; state law stays within the state courts. The US Supreme Court only chose cases that have already been heard by all the lower courts. The side that was against can ask for the US Supreme Court to appeal the case by creating a cert

US Healthcare System

Question: Describe about the Generics save for US healthcare system? Answer: Introduction Every nation designs an effective health care system to provide the public with satisfactory health care services, which ensure that the citizens enjoy good health. Each nation adopts different approach while designing such crucial systems, keeping various factors in mind. The health care system evolves in few countries while in others it is planned systematically by the coordinated efforts of the government and other concerned authorities. The development and maintenance of such systems are financed by taxation (Anderson, 2000). A healthcare system is designed for the entire nation; it includes all, from the patients who require medicinal attention to building large healthcare facilities. This kind of systems helps the destitute in availing the medical facility at a minimal cost which otherwise would be very expensive for them and also ensures that the best of medical facilities and superior technologies are available for those who can spend a lot of money for medical treatments (Ge nerics save US healthcare system $217billion in 2012, 2014). In this essay, the health care system adopted in UK and US will be compared and contrasted in order to understand how health care systems differs in different countries and what is the basis for such differences. This will provide a better insight on the concerned subject. Comparison and Contrasting According to a study conducted on seven industrialized countries, UK was ranked 2nd as it has the most efficient healthcare system in the world while US underperformed consistently. UK follows a universal National Healthcare System (NHS) which is supported by the government of UK. This program involves four key provinces, namely, National Health Services Scotland, National Health Services England, National Health Services Wales and Health and Social care in Northern Ireland (Glouberman, 2014). The people are has the liberty to either avail healthcare facilities under this system or choose the private services by investing in private health insurances. The NHS program aims at providing information and added authority to the patients, availability of additional doctors and nurses, more beds and hospitals, better healthcare for old patients, reduced waiting time for patients to take appointments and establishment of tougher principles for all the National Health System associations. Whe reas, US spend a lot of money in designing their healthcare system and it is not governed by any single philosophy. US has the most expensive health care system in the world, however the performance of this system is not satisfactory and has several problems. These services are offered by many distinctive organizations in US. 58% of the high tech health care services are operated and owned by the private sector (Keating, McDermott and Montgomery, 2013). In 2010, under the administration of Obama, some reforms were amended in the health care system with the introduction of Affordable Care Act (ACA) which addressed the problems of the existing health care system. This act established universal medical care coverage in America. The National Health System in UK is segregated into two categories, namely, primary care and secondary care. Primary care is considered as frontline services as this was the first contact point for most of the patients. A wide range of independent contractors ensures the delivery of primary care services. This includes pharmacists, optometrists, dentists and general practitioners. The secondary care services are considered as Acute Health Care or Elective care or Emergency. These are the specialized medical care such as a surgery etc. which is generally recommended by a professional doctor (Malvey and Slovensky, 2014). Whereas, in US, there are two major dominant healthcare services, namely, Medicaid and Medicare. Both of these programs were established under the administration of Lyndon Johnson in 1965. Both of these programs provide care services to the disabled. Medicare is administered under the health programme by federal government. These services are provided to American who a re above the age of 65. And Medicaid is a programme which is designed to finance the healthcare for the destitute and this programme is run jointly by the federal and state government. Other program apart from these two that is functional in US is the, TRICARE program for the civilians, which is run by the Department of Defense. This facility is available for military people and their immediate family members. However, UK lags behind US, when private sector is considered. For example, the numbers of cancer survivors are 40% higher in US than in UK. These survivors involved men and women who were cured within five year after the diagnosis of cancer. US again earns one point over UK, as the numbers of diabetes patient who were cured within six months after the diagnosis were higher in US than UK (Pangalos, Sfyroeras and Pagkalos, 2014). The number of diabetic patients who received well-timed treatment in US was six times higher than UK. Also the senior patients who received hip replacement within six months of the diagnosis in US were higher than that of UK. The National Healthcare System in UK provides care for 100% population of England, while the healthcare system of US provides healthcare cover to only about 28% of the US citizens (Pokorska-Bocci et al., 2014). The National Healthcare program made public health care services available to all the permanent residents of UK, even offering i t for free in the time of need, while the US healthcare system have set an age limit and specific income requirement for availing the public healthcare coverage for its two major program, Medicare and Medicaid. Conclusion After the detailed discussion about the National Healthcare System of two different countries, United Kingdom and United States, it can be seen that how they have different way of administration of these programs. It can be concluded that the world has started focusing on the good health of the citizens and thus devising programs to do their best to achieve this objective. Although UK has been regarded as having the excellent healthcare system in place, they still lag behind US in few cases as mentioned above (Peckham, 2014). And in spite of various loopholes in the US healthcare system, they have the best technologies available and major innovations done in their country which has given them an edge over UK in certain cases. Reference List: Anderson, E. (2000). Doing the right thing for US healthcare Has the time come for a national system?.Postgraduate Medicine, 107(5). Generics save US healthcare system $217billion in 2012. (2014).PharmacoEconomics Outcomes News, 694(1), pp.9-9. Glouberman, S. (2014). Multimorbidity and our healthcare system.Healthcare Management Forum, 27(2), pp.52-55. Keating, M., McDermott, A. and Montgomery, K. (2013).Patient-centred health care. Basingstoke: Palgrave Macmillan. Malvey, D. and Slovensky, D. (2014).mHealth. Dordrecht: Springer. Pangalos, G., Sfyroeras, V. and Pagkalos, I. (2014). E-prescription as a tool for improving services and the financial viability of healthcare systems: the case of the Greek national e-prescription system.International Journal of Electronic Healthcare, 7(4), p.301. Peckham, S. (2014). Accountability in the UK Healthcare System: An Overview.hcpol, 10(SP), pp.154-162. Pokorska-Bocci, A., Kroese, M., Sagoo, G., Hall, A. and Burton, H. (2014). Personalised medicine in the UK: challenges of implementation and impact on healthcare system.Genome Med, 6(4), p.28.