Organizational behaviour | Knowledge and power

Organizational behaviour | Knowledge and power ABSTRACT Much of the recent sociological debate on power revolves around the issue of the enabling nature of power. A comprehensive account of power has been discussed in the report i.e power of knowledge, power of money and power of social class and the ways in which these powers can be altered in the future. Much of this debate is related to the works of the French philosopher Michel Foucault (1926-1984), who, following the Italian political philosopher Niccolà ² Machiavelli (1469-1527), sees power as a complex strategic situation in a given society [social setting]. Being deeply structural, his concept involves both constraint and enablement INTRODUCTION Power is one of the most important determinants of managerial effectiveness. Bennis and Nanus (1985) regarded it, as the basic energy needed to initiate and sustain actions. It is a factor without which, leaders cannot lead. It provides the capacity to translate intentions into reality. Power is at the essence of managerial actions and leadership. It can be defined as the potential ability to influence behavior, to change the course of events, to overcome resistance and to get people do things that they would not otherwise do (Pfeffer, 1981) Balance of Power Because power operates both relationally and reciprocally, sociologists speak of the balance of power between parties to a relationship: all parties to all relationships have some power: the sociological examination of power concerns itself with discovering and describing the relative strengths: equal or unequal, stable or subject to periodic change. Sociologists usually analyse relationships in which the parties have relatively equal or nearly equal power in terms of constraint rather than of power. Thus power has a connotation of unilateralism. If this were not so, then all relationships could be described in terms of power, and its meaning would be lost. Even in structuralist social theory, power appears as a process, an aspect to an ongoing social structure. One can sometimes distinguish primary power: the direct and personal use of force for coercion; and secondary power, which may involve the threat of force or social constraint, most likely involving third-party exercisers of delegated power. Etzioni (1961) talked about two kinds of power: position power and persona/power Position power refers to ability to induce or influence others behavior because of ones position in the organization. French and Ravens (1959) legitimate power can be considered position power. Employees obey the orders of those who have formal authority or position power Taking my position as the ticket consultant, I find that Ive several powers that are directed towards both seniors and subordinates. One of the powers is persona/ power. i e this is where individuals derive their power from their own skills and efforts. Persona/ power is the extent to which subordinates are willing to follow the leader. This personal power has extended my affection, love, consideration, encouragement, recognition and attachment. Bass, Wurster and Alcock (1961) found that people want to be valued and esteemed mainly by those whom they value and respect. Therefore people bestow such persons with personal power. It is therefore clear that personal power comes from below and can be taken away more quickly by the subordinates as compared to position power. French and Ravens Referent Power and Expert power would form part of personal power. Other than the personal power, which calls for respect from the seniors, there is also the power of authority. This power is mostly directed to the subordinates in the office. It can be subdivided into: Line authority. This is the authorityover subordinates inmy chain ofcommand. However this authority corresponds directly to the place within my chain of command and does not exist outside my chain of command i.e this power cannot be exercised beyond my department Staff authority. This is the rightof staff to counsel, advice, or make recommendations to line personnel, and as a member of staff, I feel this is one of the powers that I possess. This type of authority though doesnt give me the right to give line personnel orders that affect the mission of the line organization The managers, possess the power of authority and position power over their subordinates of which am one. Position power and authority have been interchangeably used in the present times based on Etizionis findings. This is by applying various tactics, some of which are: Authority to sanction, i.e. any permission or approval that makes any course of action valid is under them. Therefore any intention to misuse their power and an important idea seeking their approval results to waste. This influential principle dictates what and when.a choice is to be made. Michener and Burt (1975) examined factors responsible for leadership success in eliciting compliance. They reported that compliance was greater when leaders explained that their demands as good for the group, had power to punish persons who did not comply to the leaders commands, and had a legitimate right to make demands on subordinates. Another study (Gamson, 1968) suggested that leaders would shift toward coercion of subordinates if they perceived that they lacked subordinates approval but did have the legitimate authority for asking for compliance Authority to Reward i. e having the final say in matters pertaining to promotions, working is directed towards trying to appease the seniors, with a notion of hard work recognition that will lead to a promotion. This results to award of promotions without merit considerations. Persuasiveness contributes positively to powerfulness of managers while appeasement and doing favors to superiors contributes negatively to the same. Powerful managers perceive their subordinates behavior relatively more positively. Enforcing discipline, pressure for compliance, persuasiveness and authority to reward emerge then as important influence strategies to arrest dysfunctional employee behaviors. Exchange of favors on the other hand seems to be ineffective influence strategy as it helps in thriving dysfunctional employee behavior. Knowledge (granted or withheld, shared or kept secret) Knowledge can be expressed as expertise and skills acquired by a person through experience or education; the theoretical or practical understanding of a subject or what is known in a particular field or in total; facts and information As a sale consultant, Knowledge acquisition involves complex cognitive processes: perception, learning, communication, association and reasoning. Knowledge also helps sale consultant in understanding subject matter with the ability to use it for a specific purpose if appropriate. Situated knowledge is knowledge specific to a particular situation. A sale consultant can use various methods of generating knowledge, such as trial and error, or learning from experience, tend to create highly situational knowledge. One of the main benefits of the scientific method is that the theories it generates are much less situational than knowledge gained by other methods.[citation needed] Situational knowledge is often embedded in language, culture, or traditions.[citation needed] Knowledge generated through experience is called knowledge a posteriori, meaning afterwards. The pure existence of a term like a posteriori means this also has a counterpart. In this case that is knowledge a priori, meaning before. The knowledge prior to any experience means that there are certain assumptions that one takes for granted. For example if you are being told about a chair it is clear to you that the chair is in space, that it is 3D. This knowledge is not knowledge that one can forget, even someone suffering from amnesia experiences the world in 3D. See also: a priori and a posteriori. There is also partial knowledge. This whereby one discipline of epistemology focuses on partial knowledge. In most realistic cases, it is not possible to have an exhaustive understanding of an information domain, so then we have to live with the fact that our knowledge is always not complete, that is, partial. Most real problems have to be solved by taking advantage of a partial understanding of the problem context and problem data. That is very different from the typical simple maths problems one might solve at school, where all data is given and one has a perfect understanding of formulas necessary to solve them. This idea is also present in the concept of bounded rationality which assumes that in real life situation people often have a limited access of information and take decision accordingly. Another implication of knowledge is the scientific knowledge. The development of the scientific method has made a significant contribution to understanding of knowledge. Majoring on this concept of knowledge, a sale consultant has to be equipped with a method of inquiry which is based on gathering observable, empirical and measurable evidence subject to specific principles of reasoning. The scientific method consists of the collection of data through observation and experimentation, and the formulation and testing of hypotheses. Science and the nature of scientific knowledge has also become the subject of Philosophy. As science itself has developed, knowledge has developed a broader usage which has been developing within biology/psychology-discussed elsewhere as meta-epistemology, or genetic epistemology, and to some extent related to theory of cognitive development. Power of Persuasion Persuasion is a form of social influence. It is the process of guiding people and oneself toward the adoption of an idea, attitude, or action by rational and symbolic (though not always logical) means. Persuasion methods are also sometimes referred to as persuasion tactics or persuasion strategies therefore as sale consultant, one need to be equipped with these methods for effective running of the organization. These methods include: Reciprocity This is where by sale consultant tends to return a favor. This is especially when one feels something good has been done and needs to appreciate the effort. Commitment and Consistency Once people commit to what they think is right, orally or in writing, they are more likely to honor that commitment, even if the original incentive or motivation is subsequently removed. For example, in car sales, suddenly raising the price at the last moment works because the buyer has already decided to buy. Social Proof This is where by people tend to do things that they see other people are doing. For example, in one experiment, one or more confederates would look up into the sky; bystanders would then look up into the sky to see what they were seeing. Social value of unfamiliar people is ambiguous and requires a lot of effort to assess accurately. Given limited time and motivation, other people will often evaluate others based on how surrounding people behave towards them. For example, if a man is perceived to be in a company of attractive women, or is associated with them, then his perceived social value and attractiveness will be perceived to be greater. The implied cognition in this case would be All those girls seem to really like him, there must be something about him thats high value. If he is seen to be rejected by many women, his social value will be judged negatively. The implied cognition is then I just saw him being rejected by many women, there is probably a good reason why they dont like him. Liking People are easily persuaded by other people whom they like. People were more likely to buy if they liked the person selling it to them. Some of the many biases favoring more attractive people are discussed, but generally more aesthetically pleasing people tend to use this influence excellently over others. Scarcity Perceived scarcity will generate demand. For example, saying offers are available for a limited time only encourages sales. Propaganda is also closely related to Persuasion. Its a concerted set of messages aimed at influencing the opinions or behavior of large numbers of people. Instead of impartially providing information, propaganda in its most basic sense presents information in order to influence its audience. The most effective propaganda is often completely truthful, but some propaganda presents facts selectively to encourage a particular synthesis, or gives loaded messages in order to produce an emotional rather than rational response to the information presented. The desired result is a change of the cognitive narrative of the subject in the target audience. The term propaganda first appeared in 1622 when Pope Gregory XV established the Sacred Congregation for Propagating the Faith. Propaganda was then as now about convincing large numbers of people about the veracity of a given set of ideas. Propaganda is as old as people, politics and religion. Sources of power can provide organizational members with a variety of means for enhancing their interests and smoothing over or creating organization conflict.. For example, some people derive power because they have been given authority by the organization to tell others what to do.Other people might have particular expertise or knowledge which the organization is dependent on, which gives them power.Some individuals might not have formal authority or expertise but might be very popular and thus have power through their own personal. The following are some of the sources Formal authority: This is when one is the legitimate owner of an organization, is the chief executive officer, or the general manager, one can use this authority to make crucial decisions in an organization whether good or bad. Use of organizational structure, rules and regulations can change the scope of working in an organization. Ability to cope with uncertainty: this feeling makes one have an advantage over the rest of the members of an organization since one feels that the organization will depend on your idea once anything happens. Interpersonal alliances, networks, and control of informal organization : if one is capable of uniting the entire workforce, the seniors will hold you as a valuable asset which can be used in case of a conflict. The same is also true when maybe a manager possesses these traits over his/her subordinates .i.e. he/she can use them to convince the subordinates in case of a misunderstanding. Symbolism and the management of meaning: This is applicable to managers whose record of management is high and who lead by example. This makes the subordinates to fear and respect the senior. Some may also possess the power to control: scarce resources,decision processes knowledge and information, boundaries, technology, counter organizations. With this power of control, the organizations development is determined by how you use it. Sources of power depend upon mainly three abilities whish are: reduce uncertainty, lack of substitutes and centrality of activities. Uncertainty: resource control, information control, decision making control, substitutability, centrality and managing the boss. Since most of us work in socially intricate organizations where we need the help not only of subordinates but of colleagues, superiors, and outsiders to accomplish our goals, its important for us to bridge the power gap so formed because we must depend on people over whom we have little or no explicit control. Hence all members of an organization should use the interpersonal power relations that include, reward power, coercive power, legitimate power, reference power and expert power In reward power, the needs and wants of the people are put into consideration and their actions appreciated. In coercive power credible penalties are identified to deter unacceptable behavior and when done effectively rules and targets can be set. Reward and coercive power depend on the agents ability to bestow on the clients positive and negative outcomes, respectively. Using either of these bases will induce only a superficial change in the client; that is, none of the clients privately held beliefs, attitudes, or values are changed. Instead, only public compliance is obtained, the continuation of which depends on successful surveillance of the client by the agent. In the legitimate power, formal power can be used to maintain it while for effectiveness; politeness and sending of requests are applied. Its based on the targets belief that the agent has a legitimate right to exert influence, and that the target has an obligation to accept this influence. It leads to private acceptance that comes from within the target and as such it does not require surveillance by the agent in order to be successful. To maintain reference power, managers should show acceptance and positive regards and for effectiveness, they should use personal appeals where necessary. It depends on the targets identifying with the agent. It leads to private acceptance by the target through enabling the target to maintain a satisfactory relationship with the agent and see himself/herself as similar to the target on certain relevant dimensions. To maintain expert power managers should earn more relevant knowledge and try to explain the needs and reasons for request of proposals. Expert power of the agent depends on the targets attributing superior knowledge or experience to the agent. When such faith in the agent is present, expert power will again result in private acceptance on the part of the target. Contrary to the bases of power discussed above, informational is independent both of the person of the agent and of the agents relationship with the target, and is instead based on the perceived relevance and validity of the information. A related discussion of social influence processes in terms of compliance, identification, and internalization is offered by Kelman (1956, 1961; Raven, 1974). Bosses should also use power ethically i.e. ethical power means using logical power in the favor of humanity which comes from managers characters. There are some processes that use ethical power in a firm or organization which are: Reward power in ethical way should be used by managers as means to verify, compliance, make feasible and reasonable requests etc. Hence, all powers should be used ethically by all managers and all members of any organization. References 1. Cervero, R., Wilson, A. (1994). Planning Responsibly for Adult Education: A Guide to Negotiating Power and Interests. San Francisco: Jossey-Bass. 2. Cervero, R. M., Wilson, A.L. (1998). Working the planning table: The political practice of adult education. Studies in Continuing Education, 20, 5-21. 3. Drennon, C.E., Cervero, R.M. (2002). The politics of facilitation: Negotiating power and politics in practitioner inquiry groups. Adult Education Quarterly, 52, 193-209. 4. Robbins Stephen P. (2003), Organizational Behavior (Tenth Edition), Prentice Hall of India Private Ltd. 5. Aswathappa K. (1991), Organisational Behaviour: Text, Cases and Games, Himalaya Publishing House. 6. Singh Yogendra Pandey Mamta (2004), Organisational Behaviour, A.I.T.B.S. Publishers. 7. Fincham Robin Rhodes Peter (2005), Principles of Organisational Behaviours, Oxford Press. Health Benefits of Swimming: Cultural Case Study Health Benefits of Swimming: Cultural Case Study Section A In the assignment, I have engaged in my chosen occupation which is swimming that I will be discussing in relation to meaning, form, purpose and performance components. Occupations are where individuals engage in activities that have meaning and purpose (World Federation of Occupational Therapists [WFOT], 2011). The chosen occupation will be explored in relation to individual meaning and socio-cultural meaning of how this could differ in other situations for others. The case study of Jessica, aged eight years old, female and has moderate cerebral palsy [CP] will be discussed in relation to my chosen occupation. The findings will also discuss how Jessicas social-cultural and occupational dysfunction impacts on her occupational participation; especially using my occupation as a therapeutic application. Occupational dysfunction identifies any difficulties that clients may have when engaging or performing in occupations (Reed, 2015). Therapeutic application defined as the therapeutic use of self-associating the link between relationship, efficacy and individuals involvement (Solman, Clouston, 2016). In addition, it will also explore whether Jessicas condition can have positive and negative effects on her health and well-being. Although physical and built environments impact on what and how people do things, it is the cultural context through which people understand and ascribe meaning to what they do (Whiteford, 2010). Meaning is the entire interpretive experience engaged in by an individual encountering an occupational form (Kramer, Hinojosa, Royeen, 2003). Cutchin Dickie (2013) do specify that occupations are forms of activity that create and re-create a multitude of our relationship with the worlds we experience. In addition, the result of engaging in occupations is vital to understanding the experience, social development and relates to well-being. Occupational form guides, structures, or suggests what is to be done by the person (Kramer, Hinojosa, Royeen, 2003; Nelson, 1994). Nelson (1988) stated that the form is observable and objective, but it can change, for example; completing an activity on your own and doing the activity with friends; the form may have an impact on meaning. The purpose is wha t it is experienced once an individual has engaged in the occupation, it provides meaning and motive for the individual (Kramer, Hinojosa, Royeen, 2003). My chosen occupation was swimming which I have engaged in individually. I see swimming as a leisure activity which means I engage in the activity in my free time within my own choice and it is fun (Poulsen, Ziviani, 2010). The meaning of engaging in swimming for me is that it provides exercise, reduces stress and time to myself. Nelson (1988) argued that the meaning may not positive, but the purpose gives a reason for engaging with a form. Culture provides scaffolding for informing and shaping an individuals perception of the different roles and behaviours that are important in the social group (Burke, 2003). As occupations are culturally placed, individuals can be influenced by other causes, for example, choice, personal need, the level of skills and gender expectations (Wilcock, Hocking, 2015). Performance components, for example, sensori- motor, cognitive, psychosocial, and psychological aspects are the elements of performance that occupational therapists assess and, when needed, in which they intervene for improving occupational performance (Duncan, 2011). Performance components that I have used in my occupation are a range of motion, strength and muscle tone within the neuromusculoskeletal category.   Performance components refer to what the person is thinking, feeling and doing, which leads to effective engagement in occupation (Strong, Gruhl, 2010). Section B In relation to Jessicas background, she was born in the United Kingdom and the parents are Chinese. There are specific values and beliefs within their culture which impact on how an occupational therapist is able to deliver a specific therapeutic program with the child. The Chinese community do not like their child to socialise with other cultures, especially receiving intervention from professionals and although education is an exception. The Home Affairs Committee (1985, p.14) stated that The Chinese community is still fairly conservative in nature, sticking well within its own created socio-economic subculture (Chau, 2013). The occupational therapist breaks down barriers and reassures parents. An occupational therapist creates an intervention when working with children, it is taken into consideration of the family and childs interests, including gaining an analysis of the childs behaviour and performance when engaging in occupations. It should be acknowledged that the familys pers pective may differ than the occupational therapists perception and to ensure what priorities are important to that particular child and family (Case-Smith, 2010). Jessica has moderate CP, she is quite an interactive child and has no language difficulties. Jessicas occupation dysfunction is that she does not often attend school as she frequently loses her balance when walking and uses a stick occasionally as she has long term chronic pain. Jessicas physical activity is minimal. Swimming will be used as a therapeutic application for Jessica to improve her general fitness levels, improve her gross motor skills, for example, walking or running and the benefits of using swimming in the long term. At the beginning of the intervention for swimming, it is one to one basis to start with to provide a person-centred approach and focusing on improving Jessicas gross motor skills and her confidence. Long term goal for Jessica is that she will be able to incorporate swimming into her routine, including swimming at school with other children. This would increase socialisation, makes swimming fun and whilst maintain fitness levels. Swimming as a physical activity for children with CP shows the benefits in improving chronic pain and preserves locomotor skills from deterioration in the long term (Declerck, Verheul, Daly, Sanders, 2016). It is agreed by Kelly, Darrah, (2005; p.69) that children with CP to improve fitness and function because of the properties of water, reduce excessive joint loading and promote strengthening while at the same time providing assistance to help support children with decreased postural control and muscle weakness. However, taking into consideration that all individuals are unique and have their own needs, it is argued that attention should be focused on the childs health and well-being, especially accessibility of activity, pain, fatigue and support network (Lauruschkus, Nordmark, Hallstrà ¶m, 2014; Whiteford Townsend, 2011). The World Health Organization [WHO], (1948) defined heath as the state of complete physical, mental and social well-being and not merely the absence of disease or infirmity. Wellbeing is central to ones physical and mental health which includes quality of life and satisfaction (Bass, Baum, Christiansen, 2015). Long term goal for Jessica is that she will be able to return to school full time and increase improvement with Jessicas walking, with support from her teachers and parents (Duncan, 2011). Jessica will gradually increase the duration of attendance from half a day to one full day on a weekly basis, eventually, attendance will full time. Jessicas walking progress will be monitored by the occupational ther apist, family, and teachers. Leisure activities can be a creative therapeutic tool, or a targeted component of a holistic occupational performance plan (Polatajko, Davis, McEwen, 2015). It is essential that children with CP should be encouraged at an early age to participate in physical activity (Zwier, van Schie, Becher, Smits, Gorter, Dallmeijer, 2010) as it is known that children with CP have even lower physical activity levels than their typically developing peers (Maltais,   Wiart, Fowler, Verschuren, Damiano, 2014). Lack of physical activity has negative effects on health and wellbeing of children with CP especially an increased risk of health related conditions, such as obesity, diabetes, depression and heart disease (Bania, Dodd, Taylor, 2010; National Institute for Health and Care Excellence [NICE], 2016). It may lead to potential barriers to enable participating in physical activity due to poor physical health and lack of support (Creek Lougher, 2011). There is evidence of therapeutic use i s that positive leisure engagement can improve subjective well-being, including short-term mood enhancement and longer lasting thoughts about life satisfaction in general. (Poulsen Ziviani, 2010). Furthermore, it is argued by Poulson Ziviani (2010) that choice and mastery are vital provision for a child to be satisfied with general life; consequently allowing a child to choose a physical activity that they enjoy enables a long term satisfaction (Preston, 2009). According to Harris, Yuill, Luckin, (2007) when an individual engages in activities that are meaningful, it may deliver a suitable level of challenge and interest which encourages mastery-oriented approach. When an individual has a long-term neurological condition, it may have an impact on the choice, control and potential abilities of the individual to engage in occupations which are meaningful (Stadnyk et al., 2010). Therapeutic knowledge is required in making decisions about leisure interest that match the childs abilit ies and interests and meet the familys needs and resources (Rodger, 2010). In conclusion, a holistic approach to working with individuals is paramount and knowledge about socio-cultural issues is required to understand many possible barriers. It is important that occupational therapists focus on the meaning than the purpose when individuals engage within an occupation. It is essential to allow individuals to have the control that allows them to be confident and capable to continue to engage in occupations independently, therefore helps them not to be reliant on others (Duncan, 2011; Crist, 2010). Wilcock, Hocking, (2015) argued that meaning, purpose, control and choice is fundamental for a quality of life, health, and well-being.

Payless ShoeSource case study

1. Which of the different product mix pricing strategies applies best to Payless’s new strategy? To my view they are using mix of different strategies. Firstly, skimming pricing. This is about selling a product at a high price, sacrificing high sales to gain a high profit, therefore ‘skimming’ the market. I see that they have invested a lot of money to hire top notch designers, rebranding effort like remodeling stores etc. There needs to be some mechanism (read, strategy) to recover this cost. For some items they have even employed premium pricing. Interestingly, Payless came up with some really good product like Lela Rose, Abaete etc. On the other hand, they have products which are low as $12. As best strategy that they are employing; I would say that they are going for Product Line Pricing. They want their customers to get attracted by the big brands in their portfolio. In that way, other products will gain due importance too. So to customers, overall portfolio will look very attractive. 2. How do concepts such as psychological pricing and reference pricing apply to the Payless strategy? In what ways does Payless’s strategy deviate from these concepts? By definition, psychological pricing on the theory that certain prices has a psychological impact. The retail prices are often expressed as â€Å"odd prices†: a little less than a round number, e.g. $19.99 or  £2.98. There is no explicit reference given in the case where we see that they are using this strategy. As a matter of fact, we see that though Payless is increasing the price of their products. So, sudden upward movement of price may come as a shock to customers. This strategy of Psychological pricing can be employed in this scenario. Payless actually did not pay a heed to that and did not come up with any proper plan towards psychological pricing. As for Reference pricing, it is a strategy in which a product is sold at a price just below its main competing brand. Now, in the case of Payless, they did not stress on setting the price at competitor price level. Instead they just increased the price to a bare optimum level so that customers can afford luxury and trendy items at much lower price. This price is well below the market price. 3. Discuss the benefits and risks of the new Payless strategy for both Payless and the designers. Which of these two stands to lose the most? There are benefits as well as risks involved in the new strategy of Payless. Benefit is customers can afford the luxurious and trendy items at much lower costs. They will be able to buy the designer product and a range of shoes and other related products at ease. In the process Payless will get a large volume of customers. Risk is historically designer luxury items and low cost does not gel together. Low cost has two connotations. One, the product is cheap. Second, the product is of inferior quality. Now consumers may be totally confused as to what will be the product quality when they see the cost price is so low than others in the market. If this is the case, sale will dip instead of increase. 4. Consider the scale on which Payless operates. How much of a price increase does Payless need to achieve in order to make this venture worthwhile? Payless undoubtedly operates at a mass volume of customers. The CEO, Rubel said, in many cases the price increases may be as little as 50 cents per pair of shoes. Payless has a large base of value conscious customers. In that segment a small price increase can sustain profitability. Basically that segment needs to be sustained so that they do not go for other company’s products. That is the key for assured return in terms of margin. They are banking on the fact that â€Å"making everyone happy will ring up the sales and profits it needs†. I think, some of the products which are really of very good quality and come from top designer houses can be priced at a bit lower than the markets. It is necessary to recover the huge volume of money spent on remodeling of the business and distribution system.

Corporate finance Essay

There are three main reasons companies purchase investments in debt or stock securities. The first reason is if corporations have extra cash that they don’t need for immediate purchase of operating assets. The second reason is; Companies purchase investments to generate earnings from investment income. The third reason companies purchase investments is for strategic reasons. A company can exercise some influence over a customer by owning a significant, but not controlling, interest in that company. Or, a company may purchase a non controlling interest in another company in a related industry in which it wishes to establish a presence. (Weygandt, Kimmel, & Kieso, 2010). Sometimes corporations will have excess cash for investment reasomns. It may invest in things, incase in the future the economy falls then it has money to fall back on when money is gone, or low. 3. Low-risk, high-liquidity, short-term securities such as government-issued securities are best when investing for short periods of time. 4. Debt securities, from banks and other financial institutions and stock securities from mutual funds and pension funds generate earnings when investing. 5. 6. Stocks of companies in a related industry or in an unrelated industry that the company wishes to enter Q: E12-2 Foren Corporation had the following transactions pertaining to debt investments. Jan. 1 Purchased 50 8%, $1,000 Choate Co. bonds for $50,000 cash plus brokerage fees of $900. Interest is payable semiannually on July 1 and January 1. July 1 Received semiannual interest on Choate Co. bonds. July 1 Sold 30 Choate Co. bonds for $34,000 less $500 brokerage fees. Instructions (a) Journalize the transactions. (b) Prepare the adjusting entry for the accrual of interest at December 31. A. Jan. 1 Debt investments $50,900 Cash $50,900 July 1 Cash $2000 Interest rev.$2000 July 1 Cash $33,500 Debt Investment $33,540 Gain on sale $2,960 Dec. 31 Interest receivable $2000 Interest revenue $2000 References Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2010). Financial accounting (7th ed.). Hoboken, NJ: John Wiley & Sons.

Plato s Crito, The Law Of Athens Essay - 1301 Words

1). In Plato’s Crito , the Laws of Athens offers many reasons why Socrates should not escape. If he was to escape he would be disobeying in three ways, one to his parents, two to those who have brought him up and three which is his agreement with his city. He should instead honor the laws more than honoring his parents because in theory the city that he is living, has raised shaped him to be who he is. â€Å" We have given you birth, nurtured you, educateD you, we have given you and all other citizens a share of all the good things we could† ( p. 500). Just as a parent would upbring a child and give the child the best opportunities knowing it will not be reciprocated , as does the city. It acts as a servant to its citizens, giving opportunities to its people when they are of the age to vote, thus creating their own life paths. A citizen is not bound to one city, the city allows its citizens to leave if they are dissatisfied with the laws but those who decided to sta y must obey the agreement with the city. In Socrates s case he is choosing to honor his agreement with his country and the city he lives, even though he has been wronging accused, by not escaping . 2). The definition according to Aristotle of intermediate is between what exceeds and what falls short, then it is separated into the two categories. Which are intermediate â€Å" with reference to the object â€Å" and intermediate â€Å" relative to us†. An intermediate with reference to the object is â€Å"... equidistant fromShow MoreRelatedTry to Persuade Socrates Friends to Save Him Against His Will1191 Words   |  5 PagesTry to persuade the Socrates`s friends to save him, against his will. 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The Emotional1573 Words   |  7 PagesThe Rational vs. The Emotional There are two sides to every issue, which is definitely the case with Crito and Socrates in â€Å"Crito† by Plato. Socrates and Crito are having an intimate conversation about reasons why Socrates should escape. Socrates is charged on corrupting the minds of the youth in Athens. Crito, who is Socrates student and close friend, tries to persuade him to escape because he did not believe Socrates committed any actual crime. Socrates, on the other hand, gives his own reasonsRead MorePlato s Apology And Crito983 Words   |  4 Pagesthe following written works, Plato’s Apology and Crito, The Gospel According to Mark, and Dante’s Inferno, religion and politics are shown to be intertwined, which emphasizes the impact of each individual character in each written work. Also, these written works explain how politics are affected by religion and vice versa. Plato’s Apology and Crito are plays that explain how Socrates, who was considered an honored and the wisest man in all of Athens by the Oracle, is sentenced to death because heRead MoreThe Disobedience Of Authority By Socrates982 Words   |  4 PagesDisobedience of Authority Whether it is ever justified to disobey authority has been disagreed upon for centuries; Plato outlined the issue of disobedience in his work of Crito, where Socrates is sentenced to death for: openly practicing philosophy, corruption of the young, and disbelief in the gods of Athens. Before officials arrived, Crito, Socrates friend, visited him to persuade him that his charges are unjustified and to escape and thrive elsewhere with his family elsewhere before the authoritiesRead MoreWhat is the purpose of the ‚Äà ²speech of the laws‚Äà ´, in Plato‚Äà ´s Crito? How is it related to Crito‚Äà ´s political opinions and preferences as expressed in this dialogue?2082 Words   |  9 PagesEdelheit What is the purpose of the ‘speech of the laws’, in Plato’s Crito? How is it related to Crito’s political opinions and preferences as expressed in this dialogue? Introduction In the following essay I will be discussing the purpose of the speech of laws in Plato’s Crito. I will also be discussing its relation to Crito’s political opinions and preferences as expressed in the dialogue. I will be focussing on the purpose of the speech of laws. In my discussion on their purpose I will be explainingRead MorePlato And Aristotles Philosophy Opinions On Piety And Religion1472 Words   |  6 Pagesmention: Socrates, Plato and Aristotle, who they create the earliest western philosophy, their philosophic ideas influence our modern society and culture in many aspects. As we read The Trial and Death of Socrates: Four Dialogues, we can get close to the thinking of these two philosophic giants at the same time: the author Plato, and the main characters Socrates, who was Plato’s teacher. The book includes four dialogues between Socrates and his friends or disciples: Euthyphro, Apology,Crito and Phaedo,Read MoreKant, The Rallying Call For Kant s Enlig htenment1026 Words   |  5 Pagesâ€Å"Sapere aude!† is the rallying call for Kant’s enlightenment. Translated, it roughly means dare to be wise. Plato, through the voice of Socrates in the dialogues The Euthyphro and The Crito, demonstrates the ultimate example of Kant’s definition of enlightenment. Socrates fearlessly dares to be wise. In 1784, Immanuel Kant wrote a groundbreaking essay addressing a question posed by Reverend Johann Zollner. The essay was entitled â€Å"What is Enlightenment†. Within this essay, Kant defines what enlightenmentRead MoreCritism in Plato2608 Words   |  11 Pagesthe Republic, Plato claims that only a very few individuals are capable of understanding how human life is to be lived. If it could be done, the rest of us would be best off it we were to let out lives be controlled by such individuals. This position held by Plato has been one of much discussion and disagreement over the years. In this paper I will attempt to give my own insight and stand on Plato s position and will evaluate his position as it emerges throughout the Apology, the Crito and the RepublicRead MoreSocrates Summary2196 Words   |  9 Pageswas evil Socrates Life: 469BC- 399BC Born: 469 B.C. Birthplace: Athens, Greece Died: 399 B.C. (execution by poison) Best Known As: The great Greek philosopher who drank hemlock Socrates is the ancient Greek thinker who laid the early foundations for Western philosophical thought. His Socratic Method involved asking probing questions in a give-and-take which would eventually lead to the truth. Socrates was born in Athens and fought as a foot soldier in the Peloponnesian War with Sparta, but