Comparison of Gini coefficient

Question: Discuss about the Comparison of Gini coefficient. Answer: Introduction: According to World Bank, Gini coefficient is the indicator of dispersion of income distribution among households from a perfectly equal distribution (oecd.org, 2016). The income Gini coefficient of OECD countries is given below: Gini Coefficient index during 2014 New Zealand 0.333 United states 0.394 United Kingdom 0.358 Switzerland 0.295 Ireland 0.244 Turkey 0.393 Australia 0.337 Chile 0.465 Table 1: Gini coefficient index (Source: oecd.org, 2016) As stated by Fyers Kirk (2015), Gini coefficient close to zero indicates less inequality among people of different income distribution in an economy. On the other hand, the value close to 1 indicates high inequality and less human development in the economy. High inequality indicates gap between high and low income group is wider and low income group people are excluded from socio economic facilities. The above table shows that income inequality in New Zealand is less than US and UK. However, income inequality is lowest in Ireland among the OECD countries. It can be inferred that economic policies have been implemented in a better way in Ireland in comparison to New Zealand. Economic growth and development of industrial and service sector are important factors that ensure income distribution. Differences in wealth are also cause of differences in income distribution. Differences in government policies regarding salaries, taxes and other development policies, human capital formation, industrialisation are reasons for differences in Gini coefficient across countries. Development of small industry in New Zealand compared to the large industries is one of the reasons that attributes to the inequalities in the economy and rising Gini coefficient in this country (inequality.org.nz, 2016). References Fyers, A. Kirk, S. (2015). Income inequality: How NZ is one of the worst in the world. stuff.co.nz. Retrieved 2 January 2017, from https://www.stuff.co.nz/national/politics/68600911/income-inequality-how-nz-is-one-of-the-worst-in-the-world inequality.org.nz. (2016). Understand inequality. Retrieved 2 January 2017, from https://www.inequality.org.nz/understand/#!prettyPhoto oecd.org (2016) OECD Income Distribution Database (IDD): Gini, poverty, income, Methods and Concepts. Retrieved 2 January 2017, from https://www.oecd.org/social/income-distribution-database.htm

Challenges to Studying Abroad - A Students Perspective

Challenges to Studying Abroad - A Student's PerspectiveStudying abroad for a year has many exciting and challenging challenges, but not all of them can be solved with just writing the essay. Find out how to deal with common challenges that may arise in your essay.One of the most common difficulties that students encounter when they start their research abroad is the lack of information about the country that they are staying in. Often, the only information they have is what they get from newspapers or magazines, as this will include whatever events took place that are reported on during the year. Students can either continue to research in their home country, or they can travel to another country where the news is widely available and can help them make a good decision. Depending on the kind of assignment that you have, you might have to travel to a particular city and check out the areas in which a certain event took place.Another common difficulty for students is the varying degree s of privacy and security that different countries offer. The most common examples of this are reported cases of cheating in school or from other students. This can affect the student greatly, as they will be either too embarrassed to tell the truth about a certain incident, or they will have to endure the humiliation of being accused of a crime. In any case, there is no shame in admitting the truth to the authorities, as long as it was not deliberate.These incidents can make students feel uncomfortable, but they should remember that they are far from the only ones that have had a negative aspect of an event. This is a common problem for those who travel in foreign countries, but it can affect them even more if they do not know the culture of their host country. You might be surprised at how different people react to you once you have spent a little time trying to understand their culture. Some of these reactions will come back to haunt you.Being unaware of the culture and customs o f a country can also affect your relationship with other students. An interesting challenge in studying abroad is how to deal with students who have left home because they were involved in some unfortunate event. Most of these students will be back soon, and they will see you as a friend, so it will be necessary to find a way to keep this relationship going.A student should always remember that you do not have to have the same experience as everyone else. It is possible to enjoy every aspect of life while studying abroad, whether this is enjoying your job as a tour guide, enjoying art exhibitions, doing fieldwork in the mountains, or simply enjoying the summer sun. A point to remember is that there is no specific time that you need to be studying abroad, as you will be able to continue your studies when you feel it is necessary.There are so many different stories that can be told about the challenges that studying abroad can bring. It is important to make sure that you understand th e problems that you face and the positives as well. You can learn a lot about your home country through the challenges that you encounter while studying abroad, and this will ensure that you have an interesting and enriching experience.There are many interesting and challenging experiences that you can look forward to while studying abroad. If you are apprehensive about whether you will have any problems while you are away, then you should plan on having some worries. But if you are prepared for problems, then you will be well placed to enjoy every aspect of your study abroad experience.

Authentic Leadership free essay sample

Thus, one of the most important lessons on how to become an authentic leader is to be able to be one’s true self. It is about being uniquely yourself and being comfortable in your own skin. The fastest way to reach a point where one is comfortable in their own skin, is by searching deeply to understand and know who you truly are. Once you have discovered who you truly are, in order to be an authentic leader, you must endeavour to be that person who you know you have always been destined to be (Spence 2008). In order to give an understanding of how one becomes an authentic business leader, I have broken down the suggestions into ten components that authentic leaders must accomplish on a regular basis. This was the same approach taken by Spence (2008), and support of these action items is given from other articles. Always speak the truth An authentic leader must consistently speak the truth and this entails being clear, honest and authentic. We will write a custom essay sample on Authentic Leadership or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This also means that you must have the strength of character to respond transparently to moral dilemmas because authentic leaders become ethical role models for their teams (Gardner and Schermerhorn 2004). A poll taken by Time/CNN some years ago reported that 71% of those polled felt that the typical CEO was less honest and ethical than the average person. A young leader must behave in a manner that makes them worthy of trust, reliance and belief in order to be deemed authentic. The leader must also be of the highest integrity and committed to building enduring organisations. A deep sense of purpose must guide their actions and they must always be true to their core values (George 2007). Integrity, stewardship and sound governance are essential. Human Resources Management BUSA 5059 (J. Ruwodo) Authentic Leadership Page 3 Author: Joy Ruwodo Date: Monday, May 25, 2009 Lead from the heart It is crucial that all leaders understand that they cannot run a business or organization on their own. People within the organisation are largely responsible for making the organisational clock tick. Thus, leadership is about people. In order to be an authentic leader, a leader needs to be able to make a difference to the lives of the people he serves and in so doing, make a difference to the world. You must be more interested in empowering the people you lead to make a difference than in money, power or prestige for yourself. You must be guided by qualities of the heart, passion and compassion, as well as by qualities of the mind (George 2007). A trait associated to compassion that a leader must have is empathy – the ability to relate and to connect with people for the purpose of inspiring and empowering their lives (Winfrey 2007). It is also vital to be willing to show vulnerability and to be open to corrective feedback which you can use to ensure continuous improvement for yourself (Geller 2007). Have a rich moral fibre Strength of character gives a leader a positive edge which can be recognised by anyone they interact with. A leader must be willing to work on their character and â€Å"walk the talk†. Such a solid character is more important than charisma. The leader’s public persona and private core must not be at odds, they must be aligned. Follow through is important. What is said in the public eye and what your corporate does must always tie up. Be courageous In order to become an authentic leader, one must be willing to do what is right always; even if it means going against the crowd.

Comparison and conclusions about the nature of knowledge between knowing a friend and knowing how to swim, knowing a scientific theory and knowing a historical period.

Comparison and conclusions about the nature of knowledge between knowing a friend and knowing how to swim, knowing a scientific theory and knowing a historical period. We can compare many things and people only by each quality. Contrasting them with their qualities will be at the same time easy and hard. Comparing a friend with something that is not alive, like knowing how to swim are two different things. A friend for example is a human being as everybody, who will help you anytime you want, give you support, understand and love you. According to Jane Sequichie Hifler, "In every man there is something wherein I may learn of him, and in that I am his pupil". We learn from our friends and they learn from us. So it is "us" who teach each other and let them know of the world we live in.Knowing how to swim is just something that you can do in the water to move within it. It can't help you nor can it know what you are feeling in any way.English: Flowchart that shows how an idea moves fr...Water also cannot teach you anything nor can you learn from water. When you learn how to swim you teach yourself how and the water it just there. Swimming it just an a ct of moving through a substance that is not air. Although, swimming allows us to experience a part of the world we are in. it allows us to take part in exploring more than just what our feet can touch. This allows us to learn and grow from what we learn under the water and how it interacts with what we see around us. The act of knowing a friend and knowing how to swim are both in turn methods of learning to obtain and achieve things in life.Comparing knowing a friend to knowing a scientific theory shows that they both must be proven. Friends are people who just don't walk up and suddenly become...

Waste Disposal Practices Essay Example | Topics and Well Written Essays - 2250 words

Waste Disposal Practices - Essay Example Waste management is an area that directly affects most businesses and is highly legislated by laws that can be difficult to apply and interpret. The price of waste disposal has increased significantly. The present study will evaluate the current waste disposal practices through analyzing the waste hierarchy i.e. 3 R's (Recycling, Re-use, and Reduction). In the process of evaluation of different models of EMS i.e. ISO 14001, ACRON (BS 8555), Environmental Management and Audit System (EMAS), the study will evaluate the different systems and try to conclude the best-fit system for the company through which waste management could be done. The present study use both qualitative and quantitative methodologies e.g. interviewing the key informants, questionnaire survey and evaluation through quantitative analysis. Rationale of study: Sustainability has become a broad church in which the congregation ranges form governments to multinational corporations from non-governmental organizations to medium-sized and small companies and from aid charities to private individuals. At a corporate level, even the smallest business is touched by issues such as environmental regulations, standardization and business standards, occupational health and safety, traffic congestion, land and energy use, waste management and corporate social responsibility. Business needs to be more aware of how its actions impact on the environment and human health. Importantly for businesses, risk is determined by several factors, not just the intrinsic hazards of an activity or plant. This is where environmental management systems and procedures can reduce the risk of environmental accidents. We believe that a well-planned and well-implemented environmental management system (EMS) will help to improve the management of environm ental risks from the activity. The effectiveness of organizations EMS's or procedures will be part of our assessment for judging what does and does not constitute 'real' risk. By identifying, managing and implementing responsible environmental practice, it makes good business sense and is synonymous with a well-managed organization. Background: Every business creates waste, but many businesses have demonstrated that huge savings can be made by managing it better. Good EMS practices are also important to make sure to keep with in the law, which is changing rapidly. Many

Audit and assurance Essay Example | Topics and Well Written Essays - 1500 words

Audit and assurance - Essay Example Linked in to this is the growing belief that many firms of auditors are unable to make objective judgments because they are either too close to the clients that they are auditing or they get close to them during recurring audits of the same clients. This is the main area where an auditor’s independence is brought under question. The basic idea of audit is to bring in an independent assessor of the financial statements; the assessor i.e. the auditor should be honest while giving out his conclusion on the financial statements. The auditor issues a report explaining the audit process and gives his opinion as to the truth and fairness of the financial statements i.e. whether they are prepared in accordance with the relevant legal and accounting standards. There are many different types of assurance engagements: An auditor usually gives out two types of assurances, Reasonable or Limited Assurance. A reasonable assurance is of high level while a limited assurance is a moderate level assurance. When giving out a reasonable assurance, the auditor gives out a positive report (means the statement given out would be a positive one as opposed to a normative statement given out in limited assurance). Many companies get their financial statements audited by different audit firms, along with these external audits, companies also assign other assurance services to the existing auditor, this issue has caused a bit of concern over the recent years. The independence of the auditor is questioned when he takes up such assignments along with the external audit assignment. To avoid such situation, the auditor can perform certain strict procedures while performing the external audit along with other assurance services: The treasury selection committee in May 2009 published a report to address the issue of increasing investor’s confidence in a firm, in this report, the main aim of

Satyam Case Study Essay Example for Free

Satyam Case Study Essay The Satyam Computer Services scandal was a corporate scandal that occurred in India in 2009 where chairman Ramalinga Raju confessed that the companys accounts had been falsified. The Global corporate community was shocked and scandalised when the chairman of Satyam, Ramalinga Raju resigned on 7 January 2009 and confessed that he had manipulated the accounts by US$1.47-Billion. Contents [hide] 1 Role of Auditors 2 Aftermath 3 New CEO and special advisors 4 Acquisition by Mahindra Group 5 See also 6 References 7 External links Role of Auditors[edit source | editbeta] PricewaterhouseCoopers was the statutory auditor of Satyam Computer Services when the report of scandal in the account books of Satyam Computer Services was broke out. The Indian arm of PwC was fined $6 million by US Securities and Exchange Commission for not following the code of conduct and auditing standards while pursuing its duties while auditing the accounts of Satyam Computer Services.[1] Aftermath[edit source | editbeta] Ramalingam Raju along with 2 other accused of the scandal, had been granted bail from Supreme court on 4 November 2011 as the investigation agency CBI failed to file the chargesheet even after more than 33 months Raju being arrested. Raju had appointed a task force to address the Maytas situation in the last few days before revealing the news of the accounting fraud. After the scandal broke, the then-board members elected Ram Mynampati to be Satyams interim CEO. Mynampatis statement on Satyams website said: We are obviously shocked by the contents of the letter. The senior leaders of Satyam stand united in their commitment to customers, associates, suppliers and all shareholders. We have gathered together at Hyderabad to strategize the way forward in light of this startling revelation. On 10 January 2009, the Company Law Board decided to bar the current board of Satyam from functioning and appoint 10 nominal directors. The current board has failed to do what they are supposed to do. The credibility of the IT industry should not be allowed to suffer. said Corporate Affairs Minister Prem Chand Gupta. Chartered accountants regulator ICAI issued show-cause notice to Satyams auditor PricewaterhouseCoopers (PwC) on the accounts fudging. We have asked PwC to reply within 21 days, ICAI President Ved Jain said. On the same day, the Crime Investigation Department (CID) team picked up Vadlamani Srinivas, Satyams then-CFO, for questioning. He was arrested later and kept in judicial custody.[2] On 11 January 2009, the government nominated noted banker Deepak Parekh, former NASSCOM chief Kiran Karnik and former SEBI member C Achuthan to Satyams board. Analysts in India have termed the Satyam scandal Indias own Enron scandal.[3] Some social commentators see it more as a part of a broader problem relating to Indias caste-based, family-owned corporate environment.[4] Immediately following the news, Merrill Lynch (now a part of Bank of America) and State Farm Insurance terminate d its engagement with the company. Also, Credit Suisse suspended its coverage of Satyam.[citation needed]. It was also reported that Satyams auditing firm PricewaterhouseCoopers will be scrutinised for complicity in this scandal. SEBI, the stock market regulator, also said that, if found guilty, its license to work in India may be revoked.[5][6][7][8][9] Satyam was the 2008 winner of the coveted Golden Peacock Award for Corporate Governance under Risk Management and Compliance Issues,[10] which was stripped from them in the aftermath of the scandal.[11] The New York Stock Exchange has halted trading in Satyam stock as of 7 January 2009.[12] Indias National Stock Exchange has announced that it will remove Satyam from its SP CNX Nifty 50-share index on 12 January.[13] The founder of Satyam was arrested two days after he admitted to falsifying the firms accounts. Ramalinga Raju is charged with several offences, including criminal conspiracy, breach of trust, and forgery. Satyams shares fell to 11.50 rupees on 10 January 2009, their lowest level since March 1998, compared to a high of 544 rupees in 2008.[14] In New York Stock Exchange Satyam shares peaked in 2008 at US$29.10; by March 2009 they were trading around US$1.80. The Indian Government has stated that it may provide temporary direct or indirect liquidity support to the company. However, whether employment will continue at pre-crisis levels, particularly for new recruits, is questionable .[15] On 14 January 2009, Price Waterhouse, the Indian division of PricewaterhouseCoopers, announced that its reliance on potentially false information provided by the management of Satyam may have rendered its audit reports inaccurate and unreliable.[16] On 22 January 2009, CID told in court that the actual number of employees is only 40,000 and not 53,000 as reported earlier and that Mr. Raju had been allegedly withdrawing 200 million (US$3 million) every month for paying these 13,000 non-existent employees.[17] New CEO and special advisors[edit source | editbeta] On 5 February 2009, the six-member board appointed by the Government of India named A. S. Murthy as the new CEO of the firm with immediate effect. Murthy, an electrical engineer, has been with Satyam since January 1994 and was heading the Global Delivery Section before being appointed as CEO of the company. The two-day-long board meeting also appointed Homi Khusrokhan (formerly with Tata Chemicals) and Partho Datta, a Chartered Accountant as special advisors.[18][19] Acquisition by Mahindra Group[edit source | editbeta] On 13 April 2009, via a formal public auction process, a 46% stake in Satyam was purchased by Mahindra Mahindra owned company Tech Mahindra, as part of its diversification strategy. Effective July 2009, Satyam rebranded its services under the new Mahindra management as Mahindra Satyam. After a delay due to tax issues[20][21] Tech Mahindra announced its merger with Mahindra Satyam on 21 March 2012, after the board of two companies gave the approval.[22][23] The companies are merged legally on 25 June 2013.[24][25] See also[edit source | editbeta]