The Global Reporting Initiative Has a Mission to Develop Global Essay

The Global Reporting Initiative Has a Mission to Develop Global Sustainability Reporting Guidelines for Voluntary Use by Organis - Essay Example The specific Initiative has been proved particularly valuable leading to the increase of the power of sustainability as related to organizational reporting. At this point, the following issue has appeared: which can be the actual value of the information provided through the reporting rules used in the context of GRI. The specific issue is examined and evaluated in this paper. Emphasis is given on the value of the above information for the firms’ shareholders. Reference is made, as an example, to four firms listed in FTSE 100, aiming to show that GRI can be highly valued by a firm’s shareholders, even if there is no previous involvement of a particular organization in similar initiatives. It is made clear that firms are urged to produce the specific type of information under the pressure to respond to the demands of different parties; the adoption of GRI rules by competitors can also lead firms to participate in the specific scheme. 2. Global Reporting Initiative 2.1 Ke y points of the Initiative As noted above, the key aim of the Global Reporting Initiative is to urge organizations to use sustainability-reporting rules (Global Reporting Initiative 2012). GRI is ‘a non-profit voluntary organization’ (Global Reporting Initiative 2012) that produces such rules. These rules are voluntary, meaning that organizations are not obliged to adopt them. However, it has been proved that these rules can help organizations to improve their relationship with their shareholders who seem to value the relevant information, as incorporated in each organization’s annual reports. In order to understand the increasing pressure on companies for adopting the reporting guidelines of GRI, it would be necessary to refer to sustainability reporting, as an activity related to the operations of organizations in different industries. According to GRI, sustainability reporting is ‘the practice of measuring, disclosing, and being accountable to internal a nd external stakeholders for organizational performance towards the goal of sustainable development’ (GRI rules, p.3). The framework of sustainability reporting, as promoting by GRI, is presented below in Figure 1. It is clear that for GRI there are two key parts of sustainability reporting: the rules on which the reporting will be based and the content of the report (GRI rules, p.3). Figure 1 – Sustainability Reporting under GRI (source: GRI rules, p.3) Using the protocols and principles suggested by GRI an organization should incorporate in its annual report, three different types of disclosures, entitled as ‘standard disclosures’ (GRI rules, p.4) in Figure 1 above. These disclosures include: ‘strategy and profile, management approach and performance indicators’ (GRI rules, p.5). These disclosures could be further analysed as follows: a) the strategy and profile disclosures showing the firm’s key strategies and profile, as related to the organizational performance, b) the key managerial decisions for handling various organizational issues can be also used for understanding organizational performance; this idea is promoted through the management approach disclosures; c) the ‘economic, social and environmental performance of each organization’ (GRI rules, p.5) need to be also presented to the stakeholders; the relevant information is provided through the third type of disclosures, the performance indicators disclosures. For responding to the needs of these disclosures, organizations need to produce

Management accounting Assignment Example | Topics and Well Written Essays - 1750 words

Management accounting - Assignment Example 235 Â   Fixed overhead volume efficiency 378 Â   Fixed overhead volume capacity 516 Â   Â   ----------- ----------- Â   Â   2129.1 325.5 Â   Â   (2129.1) Â   Â   ---------- Â   Â   (1803.6) Â   Â   Â   Â   Â   Â   ------------ Computation of the Unit Cost Units (Kg/Number of labour) Total cost (?) Per unit cost (?) Total Production (units) Units required for actual Standard production Units required for Standard Direct Material M3 1050 1680 1.6 2100 0.5 2130 1065 Direct Material M7 1470 2793 1.9 2100 0.7 2130 1491 Labour 525 3675 7 2100 0.25 2130 532.5 Variable production overhead 1260 2100 based on labour hours 2130 532.5 Fixed production overhead 4725 2100 based on labour hours 2130 532.5 Profit calculation of actual units: Sales (2100 x ?14.5) ? 30,450 Direct Material M3 (? 1,680) Direct Material M7 (? 2,793) Direct Labour (? 3,675) Variable production overhead (? 1,260) Fixed production overhead (? 4,725) Net Income 16,317 Profit calculation of budgeted profits: Sales (2130 x ?15) ? 31,950 Direct Material M3 (1065 x ?1.55) (? 1,650.75) Direct Material M7 (1491 x ?1.75) (? 2,609.25) Direct Labour (532.5 x ?7.2) (? 3,834) Variable production overhead (532.5 x ?2.1) (? 1,118.25) Fixed production overhead (532.5 x ?9) (? 47922.5) Net Income ? 17,945.25 From the detailed analysis of the computations of the operating statements and the information provided by the company, it is evident that the company is producing and selling units less than its budgeted figures show. The variance analysis is the most commonly used tool for evaluating the performance of a business by comparing its costs and revenues against the industry standards (Needles, Powers & Crosson, 2011) and ensure that right steps are taken for any kind of deviations or variances so that it can make necessary changes and reap...The main components of this statement are sales, cost of goods sold and expenses; the primary areas of focus are the revenue amount and expenses amount (Slater , 2012). Every organisation tries to keep a tight control on its expenses so that it can fulfil the requirements of its business effectively. Being a cost effective organisation allows the organisation to maintain a strong financial position and also with their savings they can work upon other business strategies such as expansion strategies and forming business units. For instance, if the equipment maintenance cost is increasing, then it can consider replacing it with a new one (Hansen, Mowen & Guan, 2009). Replacing with a new one may seem a heavy expense initially but when compared to the replacement costs on a constant mode, buying the new equipment would be a cost effective choice. In every business, there are two main classifications of costs or expenses i.e. variable and fixed costs and they need to be adequately monitored so that sufficient amount of profit can be earned (Tulvinschi, 2010). All costs and expenses in the business need to be carefully recorded and analysed so that further decision making is according to the current financial scenario of the business. In the manufacturing business like Ash PLC, the variable cost is of utmost importance as it has to ensure that it can produce the units according to the industry standards and within its budget range.

Paper Puppet Essay Example for Free

Paper Puppet Essay Productions in companies may be attributed to activities, such as the paper puppet production. Such productions are normally utilized in the fabrication of electronic gadgets, automobiles, and the like. Being able to experience such activity gave me an entertaining and amusing feeling. The thought of line production has always given me a negative feeling, for the same things were repeatedly done for a specific time frame. The activity, â€Å"Paper Puppets†, was an exercise that gaged the productivity and efficiency of workers, while following a specific order. For this exercise, one would act as the supervisor, while the rest was divided into two groups. The first group was assigned to time the task, at the same time make observations, while the second group was to do the tasks. Two rounds were done so as both groups could be able to perform the activity, before the results were finally compared. There was a delay in the first puppet made, for there was an imbalance in the distribution, resulting to uneven work load. A wallop was formed with the uneven distribution of work assignments, denting the production time. An evenly distributed load resulted in a 1-minute production, while uneven workload resulted in a 3-minute production. This resulted to a 2-minute time difference, decreasing the production to a saddening 60%. In the end, both puppets passed the standards set by the Quality Control and Assurance department. However, the second puppet was better than the first, for adjustments have been made as improvements of the first puppet. From the experience I had, I discovered that line production was focused not only on the efficiency of the the workers, but also on the quantity and quality of the products made. A flimsy mistake committed by a worker would result in the imperfection of one or several products. With the continuous upgrading of technology nowadays, companies tend to prefer the use of systems and machineries other than human workers. This is primarily due to the fact that machines tend to commit lesser mistakes as compared to human workers, since they are programmed to make unflawed products. In addition to this, the decrease in defects also increases the companys production, resulting to more profit for the company. The purpose of line production is to increase their productivity at a specific time frame as much as possible, and not decrease it. The activity made me realize that this kind of work would be uninteresting for someone like me. I cannot imagine myself being part of a line for the whole day, and on a paced motion. I felt that this kind of work was a way to put down the aspirations and dreams of the workers, who were mentally and physically weary of their job. In order for companies to have quality and quantity assured products,I suggest that a rotation in their jobs be made by the management. This would make the workers become more diversified with their line of work. However, this may also result in more complex problems and imperfections in the products, for the workers are not experienced enough to be in a specific field. Everything is a process. I guess with everyones cooperation and support, such a process may be made in order to make high grade products that can be exported to the different parts of the world.

Competition Law And Monopsony Economics Essay

Competition Law And Monopsony Economics Essay Can a buyer be the biggest bully? The classical theory of monopsony answers this question. It envisions a market scenario with only one buyer, who can use his leverage to reduce the quantity of product purchased, thereby driving down the price that he has to pay. Seldom does a monopsonistic situation arise in the market, so much so that little has been thought till date about the potential adverse impact of such a scenario on market competition. Another reason for the antitrust analysts apparent neglect of the power on the buyers side of the market may be that such power tends to reduce the selling price of a commodity, thereby causing a prima facie increase in consumer welfare  [1]  , which has always been one of the traditional goals of competition law. The said lack of emphasis, unfortunately, remains blind to the symmetry of markets: for every seller there is a buyer. Therefore, just like sellers, buyers too may have market power. In course of this research project, the researcher intends to drive home the point that price fixing and other forms of collusion are just as unlawful when the victims are sellers rather than buyers. Also referred to as the flip-side version of monopoly  [2]  , monopsony can thus have valid antitrust concerns. The primary aim of this project is to analyze the theory of monopsony from an antitrust law approach. In the first chapter initial part of the project, the researcher has provided a brief description of the standard monopsony theory and the economic implications thereof. In the next chapter, the concerns of monopsony under antitrust law will be addressed with significant emphasis on the concept of abuse of dominant position. Finally, the researcher will give examples of judicial interpretation of monopsonies. All other forms of legislative remedies dealing with monopsony fall outside the scope of this paper. B. Classical Monopsony -What does It Entail? Pure monopsony can be looked upon as the demand-side analogue of the monopolist who is a single seller. It thus follows that just as the monopolist has market power in selling its products; the monopsonist has buying power in purchasing its necessities too.  [3]  The economic grievance towards both is therefore similar too -both cause social welfare losses. From a slightly different perspective, the social welfare effects of monopsony are analogous to those of monopoly -too few resources will be employed in the production.  [4]  At the point where supply intersects with demand, the value of the good, as measured by the demand price, equals the cost to society of providing that quantity as measured by the supply price. At this point, the employment level is optimal in a social sense because all of the gains from trade have been realized, and total welfare is maximized. However, the monopsonist will not hire this number of units because it is not privately optimal to do so; it will employ a smaller quantity. As a result, too few resources will be employed, as has been stated above and the monopsonist will finally forgo potential gains from trade opportunities.  [5]  Since the monopsonist forces a lower price upon suppliers, one may infer that its costs for conversion of the intermediate good into a final one will fall as a result and consumers (of that final good) will benefit through lower prices on the monopsonists output. However, the researcher would like to differ from such inference and point out that the monopsonist does not pass on said lower costs simply because the relevant costs for pricing decisions are marginal costs.  [6]  What the researcher intends to portray is that monopsony power is to the demand side of a market what monopoly power is to the supply side. Monopoly power is indicated by the ability of sellers to raise price above competitive levels, which requires the ability to limit output. Monopsony power, on the other hand, involves the ability of buyers to lower input prices below competitive levels, which requires the ability to restrict the quantity demanded of the input.  [7]  In either case, the quantity that would be exchanged is less than the quantity exchanged under competitive conditions, and the result bespeaks allocative inefficiency.  [8]  Furthermore, the fact that the reduced input prices enjoyed by the monopsonist do not lead to reduced output prices, is, frankly, ironical. On the contrary, when the monopsonist has market power in its output market, the reduced input prices cause higher output prices. C. Monopsonist Concerns- Abuse of dominant position The Indian Competition Act, 2002  [9]  aims at preventing practices which have adverse effect on competition, to protect the interest of consumers and to ensure freedom of trade carried on by other participants, in markets, in India.  [10]  It is important to note here that the Indian Competition Act, like most other legislations introduces the concept of abuse of dominant position. This means that it prohibits only abuse of power not the mere use of it.  [11]   There are primarily three stages in determining whether an enterprise has abused its dominant position. The first stage is defining the relevant market. The second is determining whether the concerned undertaking is in a dominant position in that relevant market. The third stage is the determination of whether the undertaking in a dominant position has engaged in conducts specifically prohibited by the statute or amounting to abuse of dominant position or attempt to monopolize under the applicable law.  [12]   The competition laws of the European Union, United Kingdom, Germany and India contain a general prohibition on the abuse of dominance by undertakings/enterprises. Article 82  [13]  of the Treaty of the EC, Section 18(1)  [14]  of the Competition Act, 1988, U.K., Section 4(1)  [15]  of the Indian Competition Act, 2002, Section 19(1)  [16]  of the German Act Against Restraints on Competition and Section 2  [17]  of the Sherman Act contain provisions on abuse of dominant position. 1. Defining Relevant Market The first step in determining whether an undertaking or firm has abused its dominant position is defining the relevant market which has two broad dimensions namely, the relevant product market and the relevant geographical market.  [18]   The Indian Competition Act, 2002, defines a relevant product market and relevant geographic market. Section 2 (t) defines the relevant product market as a market comprising all those products or services which are regarded as interchangeable or substitutable by the customer, by reason of the characteristics of the product or service, the prices and the intended use. Section 2 (s) defines the relevant geographic market as a market comprising the area in which the conditions of competition for supply of goods or provision of services are sufficiently homogeneous and can be distinguished from the conditions prevailing in neighbourhood areas. There is however, no such case either in India or in other countries, where such a definition has been challenged on the grounds that it takes into account supplier side abuse as only the views of the customers attitude towards substitutability of the goods is taken. Keeping this question aside and assuming that this problem is resolved by judicial interpretation, the other elements of abuse of dominance also need to be assessed. 2. Definition of a Dominant Position While the laws of numerous countries prohibit or declare illegal the abuse of dominant position or monopoly or attempt to monopolizen of certain conduct by undertakings in a dominant position, the manner in which dominant position, monopoly or substantial degree of market power is defined is different in different countries. The concept of dominance is broader than economic power over price. It is not the same as economic monopoly, although a monopoly would clearly be dominant.  [19]  This is a clear indication of the fact that dominance is recognised as cases even apart from monopoly and thus the possibility of characterising monopsony as down-stream dominance strengthens here. Explanation (a) to Section 4 of the Indian Act defines dominant position as dominant position means a position of strength, enjoyed by an enterprise, in the relevant market in India, which enables it to- (i) operate independently of competitive forces prevailing in the relevant market or (ii) affect its competitors or consumers or the relevant market in its favour. Unlike the Monopolies and Restrictive Trade Practices Act  [20]  where a dominant undertaking had to satisfy a quantitative requirement of control over at least 1/4th of the total goods or services produced or rendered in India, dominant position under the Indian Act  [21]  is a position of strength enjoyed by an enterprise in the relevant market, in India which enables it to operate independently of competitive forces; or affects its competitors or consumers or the relevant market in its favour.  [22]   A number of factors are taken into account to determine whether a particular undertaking or group of undertakings is in a dominant position in the relevant market. The factors to be taken into account are inter alia market share of the undertaking or enterprise, barriers to entry, size of competitors and financial power of the enterprise.  [23]   However, the market share that a particular undertaking has in the relevant market is one of the most important factors to be taken into account to determine whether it is in a dominant position and under the laws of some jurisdictions, the existence of a market share of or above a specified level gives rise to a presumption of existence of a dominant position (although rebuttable).  [24]   In Hoffmann-La Roche Co. AG v Commission of the European Communities  [25]  , it was observed that the existence of very large market shares though a very important factor, is not constant and its importance varies from market to market according to the structure of these markets. The Court observed, Furthermore although the importance of the market shares may vary from one market to another, the view may legitimately be taken that very large shares are in themselves, and save in exceptional circumstances, evidence of the existence of a dominant position.  [26]   Competition authorities can utilise measures like buyer concentration and elasticity of supply, as well as performance measures such as profitability and relative bargaining power compared to the sellers, in order to assist them in the assessment of buyer power. The structure of the buyer and the seller markets must also be taken into account.  [27]  The number of firms is also essential in judging whether buyer concentration can provide a representative measure of buyer power. A small number of firms that account for a high share of purchases indicate that the buyer market is concentrated.  [28]   3. Abuse of Dominant Position The Indian Act does not prohibit dominance or the presence of market power per se, and sheer market power alone, or even market dominance, does not constitute abuse of dominance. Abuse of dominance occurs when a dominant firm, or group of firms, substantially prevents or lessens competition, by engaging in acts that aim to eliminate or discipline competitors, or simply to stop potential competitors from entering the market in question. The treaty of the EC does not contain an express definition of abuse of dominance but merely lists certain conducts which, if engaged in by a dominant undertaking will amount to abuse of dominance. In Hoffmann-La Roche it was observed that, The concept of abuse is an objective concept relating to the behaviour of an undertaking in a dominant position which is such as to influence the structure of a market where , as a result of the very presence of the undertaking in question , the degree of competition is weakened and which , through recourse to methods different from those which condition normal competition in products or services on the basis of the transactions of commercial operators , has the effect of hindering the maintenance of the degree of competition still existing in the market or the growth of that competition.  [29]   In Europemballage Corporation and Continental Can Company Inc. v Commission of the European Communities  [30]  it was observed that, Abuse may therefore occur if an undertaking in a dominant position strengthens such position in such a way that the degree of dominance reached substantially fetters competition, i.e. that, only those undertakings remain in the market whose behaviour depends on the dominant one. In the light of the fact that the existing antitrust legislation prohibits only abuses of power, the question assumes significance as to whether in cases of either monopoly or monopsony, it would entail an abuse of market power to use that power merely to influence price. Rationality suggests that the legislative prohibition should extend only to price-only effects. However, later cases will reveal how only price-effects are not enough and that a closer look must be taken to strike down abusive case of monopsony by the judiciary. D. Judicial Trends under Monopsony- A Concern for society? Recent surveys conducted in U.K.  [31]  have revealed that the current judicial trend is towards substantive analysis, instead of the bright line tests  [32]  that were in vogue before. As a result, judges are required to appreciate in entirety economic consequences of an action, lest they commit mistakes. For example, if judiciary uses initial impact on price as the test for prohibited conduct, monopsonistic behaviour may be excused, even when it ought not to be. Such a conclusion, although erroneous, may be reached at in the following cases: first, strictly from substantive perspective, judiciary may perceive lower prices as an indicator of the harmlessness of a practice. Moreover, procedurally speaking, injury suffered by sellers who have been compelled to sell their outputs at lower prices may not qualify as antitrust injury in the traditional sense. The researcher would in this context draw attention towards a recent controversy surrounding the matter of Balmoral Cinema v. Allied Artists Pictures,  [33]  which highlights the significance of proper economic analysis of monopsony scenario. In this case, the exhibitors (buyers) colluded to refrain from competitive bidding for films offered by distributors. While such an action might have fallen foul of standard bright-line antitrust analysis as a per se unlawful horizontal agreement to fix price, the judiciary held instead that the practice of the colluding buyers was simply causing lowering of prices paid by exhibitors to distributors, which might lower prices to movie-goers at the box office, thereby facilitating rather than undermining consumer welfare. Without delving into propriety of the judgement, the researcher would like to posit that it had come perilously close to equating lower prices with overall economic benefit. It is for this very reason that in the case of mono psony, the presence of lower prices should not end the analysis because there is no correlation between an initial decrease in prices and any overall long-run benefits to consumers. E. Conclusion The aforementioned analysis clearly indicates that there is a buyer for every seller and anticompetitive conduct by buyers can cause adverse economic consequences similar to those caused by sellers anticompetitive behaviour. However, the competition policymakers are yet to fully incorporate the symmetry of markets into their analyses, instead restricting their focus solely on seller-behaviour. Especially in a country like India, monopolistic tendencies are in essence sought to be curbed. It is highly doubtful if the courts would really read monopsony into the statute and declare it bad in law as well. The Indian judiciary must strengthen the economic foundations for dealing with anticompetitive conduct by buyers too. The requirement assumes all the more significance owing to the simple statement of fact that concentration of power on the buying side of a market almost inevitably causes a decrease in price, which may tempt a judge in turn to erroneously stop substantive analysis at th at stage, or declare that the plaintiffs have not suffered antitrust injury.  [34]   In course of this project, the researcher has sought to emphasize a few matters. First, lower input prices resulting from the exercise of monopsony power do not ultimately translate into lower prices to the monopsonists customers and increased overall consumer welfare. Thus, neither the substantive nor the procedural analysis should stop with the initial impact on input price. Second, the monopsony model typically employed in many economic texts and antitrust casebooks seriously understates the variety of consequences of the exertion of monopsony power. Finally, the long-run consequences of monopsony must not be ignored. Lower input prices in the short run may mean decreases in both future supply and in ultimate, overall consumer well-being. This conclusion has implications on the debate about whether the antitrust laws should be applied usingconsumer welfare or total welfare standard. Those espousing the consumer welfare standard believe that antitrust analysis should focus on the interests of consumers who purchase a final end product or output in the chain of distribution. In contrast, proponents of the total welfare standard argue that the antitrust laws should seek to maximize societys wealth as a whole rather than focusing on any one type of market participant. The fact that many courts and enforcers outside India have not been reluctant to condemn anticompetitive buy-side conduct, which potentially poses little or no direct threat to consumer welfare, suggests a willingness on their part to take into account the interests of all market participants. Perhaps this indicates some recognition by courts and enforcers that in the long run, monopsony can ultimately be just as harmful to consumers as anticompetitive conduct occurring in the output market. While the judicial decisions may not completely resolve the debate about the consumer welfare and total welfare standards, perhaps it helps to solidify to some degree what courts and enforcers have been suggesting all along-that conduct on the buy side of the market should be treated just as strictly as conduct on the sell side of the market. Thus, the researcher hopes that the Indian law and judiciary will develop, in light of these rulings abroad to set aside the traditional perception of sellers being largely immune to antitrust violations. F. Bibliography Statutes Competition Act, 1988, United Kingdom 6 Gesetz gegen Wettbewerbsbeschrà ¤nkungen, GWB (German Act Against Restraints on Competition,1956 6 Sherman Act, United States, 1890 6 The Competition Act, 2002, No. 12 of 2003 5 The Monopolistic and Restrictive Trade Practices Act, 1969 8 Treaty of the European Communities, 2003 6 Cases Balmoral Cinema v. Allied Artists Pictures, 885 F. 2d 313 (6th Cir. 1989). 8 Europemballage Corporation and Continental Can Company Inc. v Commission of the European Communities, [1973] EUECJ C-6/72. 10 Hoffmann-La Roche Co. AG v Commission of the European Communities, ECJ, Case 85/76, Dated 13 February 1979. 9 Ilan Golan v. Pingel Enterprises Inc, 310 F.3d 1360, 1370 (Fed. Cir. 2002) 6 Image Technical Services Inc v. Eastman Kodak Co, (90-1029), 504 U.S. 451 (1992) 6 Queensland Wire Industries Proprietary Limited v. The Broken Hill Proprietary Company Limited and another [1989] HCA 6; (1989) 167 CLR 177 6 United Brands Co and United Brands Continental BV v. The Commission of European Communities, (1978) 1 CMLR 429. 9 Works of Publicists and Authors Geoffrey A. Manne E. Marcellus Williamson, Hot Docs v. Cold Economics: The Use and Misuse of Business Documents in Antitrust Enforcement and Adjudication, 47 Arizona Law Review 609. 12 John J. Flynn, The Misuse of Economic Analysis in Antitrust Litigation, 12 Southwestern University Law Review 335. 5 Leon B. Greenfield Daniel J. Matheson, Rules v. Standards and the Antitrust Jurisprudence of Justice Breyer, 23 (3) Antitrust L. Journal 48 (2009). 11 Mark Furse, Competition Law of the EC and UK, 6th Ed, 2008, Oxford University Press. 10 Natalie Rosenfelt, The Verdict on Monopsony, 20 Loyola Consumer Law Review 402. 4 Remarks of Dr. Betty Bock at University College of London, 55 Antitrust Trade Reg. Rep. (BNA) 109 (July 21, 1988), 11 Richard J. Pierce, Is Post-Chicago Economics Ready for the Courtroom? A Response to Professor Brennan, 69 George Washington Law Review 1103 12 Richard Whish, Competition Law, 6th Ed, 2008, Oxford University Press. 9 Roger D. Blair Jeffrey L. Harrison, Antitrust Policy and Monopsony, 76 Cornell L. Rev. 297 3 Roger G. Noll, Buyer Power and Economic Policy, 72 Antitrust L.Journal. 589, 613 (2005) 4 Web Sources Competition Commission of India, Abuse of Dominance in Indian Comeptition Law, Available at www.competition-commission-india.nic.in//Abuse%20of%20Dominant.pdf, Last visited on 17 March 2011 6 David Waterman, Local Monopsony, Free Riding, and Antitrust Policy, April 1995, Prepared for Presentation at the Fifth Annual Conference of the American Law and Economics Association, May 12-13, 1995, Available at http://papers.ssrn.com/sol3/papers.cfm?abstract_id=54865, Last visited on 17 March 2011. 3 Dobson Consulting, Buyer power and its impact on competition in the food retail distribution sector of the European Union, (1999), available at http://europa.eu.int/comm/competition/publications/studies/bpifrs/ , last visited on 17 March, 2011. 9 G.R. Bhatia, Abuse of Dominance, Available at www.competition-commission-india.nic.in//ABUSE%20OF%20DOMINANCE.pdf, Last visited on 17 March 2011. 5 G.R. Bhatia, Advance rulings that are awaited on issues under the Competition Act, 2002, Available at http://www.indialawjournal.com/volume3/issue_3/article_by_bhatia.html, Last visited on 17 March 2011. 6 John R.Wilke, Bully Buyers: How Driving Prices Lower Can Violate Antitrust Statutes, 27 January 2004, The Wall Street Journal, Available at http://bpp.wharton.upenn.edu/waldfogj/250/clippings/Monopsony/WSJ%201-27-2004%20Bully%20Buyers%20-%20How%20Driving%20Prices%20Lower%20Can%20Violate%20Antitrust%20Laws.pdf-, Last visited on 17 March 2011. 4 Mallika Ramachandran, Comparative Study: Law on Abuse of Dominant Position, Available at www.cci.gov.in//ComparativeStudyLaw_mallikaramachandran09022007_20080411100811.pdf, Last visited on 17 March 2011. 8 OECD (2005): Competition law and Policy in the European Union, http://www.oecd.ord/dataoecd/7/41/35908641.pdf, Last visited on 17 March, 2011. 7 OECD, Directorate for Financial, Fiscal and Enterprise Affairs Comm. on Competition Law and Policy, Buying Power of Multiproduct Retailers (1999), available at http://www.oecd.org/dataoecd/1/18/2379299.pdf, last visited on 17 March, 2011 5 Raghav Dhawan, Countervailing Buyer Power as a defence in Dominance cases, available at http://www.cci.gov.in/images/media/ResearchReports/competitionlawprojraghav_20100119154458.pdf, Last visited on 17 March, 2011. 9 Surabhi Singhi, Competition Act, 2002 and its Relevance, Available at http://www.legalserviceindia.com/articles/compet.htm, Last visited on 17 March 2011. 6

Free Essays on A Midsummer Night’s Dream: The Comedy :: Midsummer Nights Dream

Comedy in A Midsummer Night's Dream "why do they run away? This is a knavery of them to make me afeard."(3.1.99) This is a quote from the Shakespearean play "A Midsummer Night's Dream." In this quote, the speaker, Bottom, is wondering why everyone is afraid of him. He doesn't realize that as a practical joke, a trickster Puck, has put an ass head on his shoulders. This makes all of his companions afraid of him so that they run away. This is an example of the comedy involved in this play. This essay will show you that A Midsummer Night's Dream is a play that is mainly composed of comedy. The funniest part of this play seems to be when Puck, the trickster, keeps mixing up the people who he is assigned to put the love juice on. Even when he did put the love juice into the right people's eyes, they still fell in love with the wrong people sometimes. The first example of this mistake of Puck's is where he puts the love juice in Lysander's eyes, mistaking him for Demetrius. Oberon tells Puck to put the love juice in the eyes of an Athenian man, Demetrius, and to make sure that the first thing he sees after this is the woman whom he hates, but who loves him so much, Helena. Puck ends up finding Lysander and Hermia, lovers, sleeping on the forest floor. He puts the love juice in Lysander's eyes and leaves. Then along come Helena and Demetrius to this spot. They are still arguing and Demetrius leaves her with the sleeping Lysander and Hermia. Helena notices them there and tries to wake Lysander. Lysander wakes and the first thing he sees is Helena. "And run through fire for thy sweat sake. Transparent Helena! Nature shows art, That through thy bosom makes me see thy heart."(2.2.103). This is what Demetrius says to Helena when he sees her. He has fallen in love with her. This is where the comedy of this love mix up begins. Now Helena is confused and thinks that Lysander is playing a trick on her so she runs away. This is a most particularly funny part of the play and these mix ups with whom loves who seem to be the funniest pieces of the play. Another funny section in this play is where Puck puts an ass head on the shoulders of Bottom.

Life, Death, and the Politics of Abortion :: abortion argumentative persuasive argument

Life, Death, and the Politics of Abortion      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Few issues have fostered such controversy as has the topic of abortion. The participants in the abortion debate not only have firmly-fixed beliefs, but each group has a self-designated appellation that clearly reflects what they believe to be the essential issues.   On one side, the pro-choice supporters see individual choice as central to the debate:   If a woman cannot choose to terminate an unwanted pregnancy, a condition which affects her body and possibly her entire life, then she has lost one of her most basic human rights. These proponents of abortion believe that while a fetus is a potential life, its life cannot be placed on the same level with that of a woman.   On the other side, the pro-life opponents of abortion argue that the fetus is human and therefore given the same human rights as the mother.  Ã‚   Stated simply, they believe that when a society legalizes abortion, it is sanctioning murder.      Ã‚  Ã‚  Ã‚  Ã‚   In today's more industrialized societies, technology has simplified the abortion procedure to a few basic and safe methods.   Technology, however, has also enhanced society's knowledge of the fetus.   Ultrasound, fetal therapy, and amniocentesis graphically reveal complex life before birth, and it is this potential human life that is at the heart of the debate.   Ã‚  Ã‚  Ã‚  Ã‚   In order to form an opinion on this matter, we must first question and define several common factors which are numerously debated.    I.   When does human life begin?      Ã‚  Ã‚  Ã‚  Ã‚   Scientists identify the first moment of human life as that instant when a sperm cell unites with an ovum or egg cell.  Ã‚   The billions of cells that collectively make up a human being are body cells.   Unless manipulated, these body cells are and remain what they appear to be: skin, hair, bone, muscle, and so on.   Each has some worthy function in life and performs that function until it dies.   Other rare cells, known as germ cells, have the power to transform themselves into every other kind of human cell.   The sex cells are the sperm cells in the male and the egg cells in the female.   It is only in combination that these cells can create a fetus.   The merger is complete within twelve hours,

Main Character Of The Novel Essay

Throughout the book, we see that George Elliot has a distinct pre-occupation and interest with presenting the working class rural community in an authentic light. She writes the book as a social anthropologist, studying the more primitive community of the time. She has a large amount of sympathy towards the poor, although she herself was not a member of the working class. Using the story as a vehicle she aims to expose the plight and indignity of the poor in Victorian England, it was her main motive. Therefore, her focus throughout the book is in fact village life; in this case a fictional village named Raveloe. Focusing on the villagers, their attitudes and their way of life acts as a way of also commenting socially and politically on the injustices they face. Raveloe can easily be regarded as the main character as without it, the narrative following Silas has little significance. The village shapes the narrative, being responsible for most of the major areas of interest in the tale. All the individual characters provide interest and together form the character of the town, from characters such as Dunsey to Dolly. The story begins with a sympathetic description of the ‘honest folk’ of Raveloe. Our first real source of interest in the novel comes from the villager’s hostile reaction to Silas. We are initially told about Silas through the eyes of the villagers. Elliot echoes the villagers process of thought and way of speech throughout the novel, namely at the beginning. The sound of Silas’ loom is described as ‘questionable’ and he is said to have a ‘dreadful stare’. She is mimicking the mannerisms and phraseology of Raveloe as a whole and its reaction to the unknown. Silas’ mechanical method of working on the loom is seen as un-natural by the villagers, who can only judge him on their own experiences, centred round farming and agriculture. Due to this unfamiliarity, they see even pitiful attributes as sinister. His bad eyesight is thought of as a ‘stare’. This reaction of the village acts just as a reaction of a human character. It is typical of the village to think this way. In this respect then, the village can be regarded as any other character would. It has attributes and a predictable nature. It is these collective attributes of the community that make Raveloe one character, with which Silas’ relationships revolve. His relationships and connections with the characters of the community provide the most significant points of interest in the novel. Initially, there is the theft of his gold by Dunsey, then his integration into the community with the help of Dolly and later his confrontation with Godfrey over the fate of Eppie. Dolly represents the warmer, caring part of the Raveloe community, opposite to William Dane, the bitter symbol of Silas’ past. She is described to ‘seek the sadder and more serious elements of life and pasture her mind upon them’. Dolly seems to almost gain sustenance from helping those in need, in this case Silas. She helps him with the upbringing of Eppie, offering clothes and her own time. She fulfils her found role in the community. Although she can be seen as the prime example of the village’s moral capability, such sentiments are seen universally. When Silas informs the villagers of his lost gold, the villagers group together in order to help him. By entering ‘The Rainbow’, Silas enters the hub of the village community, beginning the process of his integration. After seeing the authenticity and depth of Silas’ grief, any former rumours disappear as the villagers begin to relate him to themselves, seeming anxious to help. The event acts as a rare source of excitement, as the villagers become incapable of distinguishing reality from imagination, fabricating information concerning a pedlar ‘with ear-rings’. However this all represents a symptomatic characteristic of the village – a concern to help others. The villagers’ reaction concerning the pedlar, is an indication of another key characteristic of Raveloe – a belief in superstition. Although the villagers provide lengthy descriptions of this so called thief, we know that no such character even exists. It is an example of how, in such close cut communities, little matters, true or false, can be embellished, escalating into common belief, leading to the creation of new superstitions. Silas is initially associated with the devil and spirit worship. These suspicions are only heightened by his apparent skill with herbal remedies, his strange cataleptic fits, as well as his past home, ‘North’ard’, where wizards, magic and folklore were associated. However his evident massive bereavement following the loss of his gold dispels any former rumours. Much of this superstition originates from the villagers discussions in the ‘Rainbow’, an important focus of the novel. This can be seen in the tale of ‘Cliff’s Holiday’, a well known rehearsed tale. Mr Macey, the apparent head of this specific social community, describes how a tailor, known as Cliff, had tried to ‘ride the tailor’ out of his son, attempting rising up the class system by making a gentleman out of his son. The story however ends with the son dying, and Cliff following him soon after. The story entails much superstition, mentioning ‘old Harry’, a euphemism for the devil, suggesting this unnatural desire to climb the class system was responsible for the death of the boy. The villagers, opposite to Cliff, are in fact very accepting of what they have been given. They feel content with what God has given them. Their pre-occupation is not to rise out of poverty but to merely co-operate with each other in order to make it bearable. This is seen in Dolly’s clear desire to help anyone in need, or at least to do the best she can. None of the villagers seem to complain about their conditions. They support Silas and each other. Another example of this is in Aarons desire to help Silas later on in the novel with his garden. He has no qualms about working in his spare time, he sees it as simply a decent thing to do. These sentiments would largely be a result of his mother, Dolly, and the way she brought him up. The meetings in the Rainbow are an important aspect of the social nature of Raveloe. Like going to Church, it is a social function. This religious aspect of Raveloe is alien to Silas due to his origins of the non-conformist Lantern Yard. He knows nothing of churches, only chapels. This complete lack of knowledge somewhat isolates him from the community; he does not go to church. However Dolly, is adamant that Eppie shall be brought up in the Raveloe faith and at the same time, introduces Silas back into religion. Both the working class are present in such functions as well as the gentry. The gentry are represented by the Cass family. The squire sees himself above the other members of the community, only becoming involved with them at festive, social occasions, such as the new-year party at the Red House. They are differentiated from the poor and, unlike Dolly, Mr Macey or any other members of the lower class community, represent little more than themselves. The Cass family are one of the villagers’ topics of discussion. They perceptively see the faults of the upper class just as they see faults in the lower classes. They take a specific disliking to Dunstan, due to his lack of respect of anyone, especially those below him. Godfrey is also seen as weak, Mr Macey describing him as a ‘slack baked pie’, commenting on his moral flaws. The primitive but nevertheless logical philosophy of, those who do well are rewarded while those who don’t suffer, is apparently proven in both cases. Dunstan ends up dying due his greed, while, although it is unknown to them, because of his rejection of Eppie, Godfrey is seemingly punished by Nancy being unable to conceive. Silas’ innocence on the other hand, is eventually rewarded. He is blessed with Eppie, who changes his life. These conclusions follow the villager’s moral code, maintaining justice. Categorically speaking, the village has a variety of overall attributes and a predictable nature so therefore can be described as a character. Furthermore, being the main focus of the novel, we can go on to suggest it is the main character. We are more aware of the values and nature of Raveloe as a whole than any specific character – even Silas. All the main events of the novel are shaped by the village. Each personality of each character represents a different aspect of the village as a whole. These individual characters amount to create one, main character which dictates the narrative and plot of the novel. Elliot’s concentration on her depictions of the village, indicate that she desired it to be the main focus. Obviously Silas is important, however, it is the events that unfold around him in Raveloe that really influence the direction of the novel.