Aristotle and the Realm of Ethics

An examination of the Nichomacean Ethics is a task that contains the dichotomy of examining Aristotle’s simple, basic definitions along with the great complexity that is present in the underlying meaning behind the simplicity. Aristotle believed the ultimate goal of a human being was (is) to seek happiness and that only a virtuous person can truly achieve happiness.   The acceptance of these notions centers on the perception of the definitions of â€Å"virtue† and â€Å"happiness†. In Aristotle’s words, â€Å"We are now in a position to define the happy man as one who is active in accordance with complete virtue.†Ã‚   In other words, happiness without ethics is a near impossibility.. Eudemonia is a particularly complex situation when trying to understand the importance of it in regards to ethics because eudemonia generally refers to â€Å"happiness or pleasure.† Unfortunately, as the history of human behavior has shown, there will be those individuals who derive their happiness from actions that can be somewhat harmful to people. This type of behavior is, essentially, a pleasure principle based on perversion as opposed to one that is based on ethical behavior. So, it becomes important to separate Eudemonia from perversion or anti-social behavior in because, ultimately, while there may be some pleasure present in such conduct, this does not lead to overall happiness because there might exist a situation where such behavior leads a person down a road of a damaged life. Drugs may bring happiness, but this will exist only for the short term. Ultimately, they will lead to a damaged life that is devoid of happiness. As such, the happiness that Eudemonia  represents must not be transitional happiness, but happiness that is everlasting. In order to achieve this, the happiness must be based on ethical approaches to the pursuit of happiness. Ultimately, virtue breeds ethics and a disposition that is virtuous will further perpetuate ethical behavior. The reason for this is simple: a person who acts with purity can not act unethically as a lack of ethics and a preponderance of virtue are, essentially, mutually exclusive. A disposition of virtue will, in effect, cancel out any unethical or immoral behavior. Now, a virtuous person can also be a person who is rife with internal conflict. To seek happiness does not mean that the person will achieve happiness no matter how hard he or she tries. Often, there will be conflicted internal struggles that pit virtue, honesty and â€Å"the good life† against the frailties of the human psyche and soul. This internal conflict often will eat away at the ability to achieve happiness. However, if a person lives a life that is ethical, a great deal of conflict and stress will be removed from a person’s life. This, in turn, will allow the person a semblance of happiness or, at the very least, a lessoning of conflicting tensions that prey on the mind. Prescribing to a balance of ethics and happiness hinge on the need for virtuous actions and, while this is not possible all the time, it is possible a great deal of the time and can be achieved if an individual concentrates on it enough. This is a core tenant of Aristotle’s principles of ethics, ethical behavior and virtue.                                 

Belonging in Strictly Ballroom and two related texts Essay

Explores the notion of belongers – people obsessed with belonging who prefer not to think for themselves. This Shows the pain felt by those excluded from the group, eg Fran. Fran: I understand. You’ve got your Pan Pacific’s to win and I’m back in beginners where I belong. Shows the disastrous effect conformity and fear have among belongers who gain their place inside the group at the price of conformity. Shirley Hastings, for example, lives a â€Å"life half-lived† cowering before what Barry Fife will say or think. She has let the Federation so dominate her that she has no respect for Doug and can only see her son Scott in terms of winning competitions Can be seen as a parable about multicultural Australia. At first the Anglo-Australians control the Federation, make the rules, delegate Fran (â€Å"Franjepannydellasquiggymop†) to role of abused outsider and close ranks against any possibility of change. The last scene reverses all this as both Doug and Fran’s grandmother are included in the dancing. The clapping of the crowd – started by Doug, then picked up by Fran’s father and grandmother – is carried on by the crowd, enabling Scott and Fran to dance at the crowd’s insistence, no longer under the control of the corrupt Barry Fife. Explores the contrast between authentic belonging where people speak and act from the heart and an artificial, rule-obsessed style of Belonging. Likewise dance as romantic, authentic, joyous activity is contrasted with the conservative rule-bound world of Barry Fife and his committee that decides what is â€Å"strictly Ballroom†. Fran and Scott symbolise true belonging where dance and passion flow naturally together and are set in contrast with the highly artificial dancers like Ken, Tina Sparkles and Liz. Could be read as a cheerful, upbeat, satirical parable tracing the shift from a world of false belonging dominated by conformity, fear and the cynical manipulations of the ultra-sleaze Barry Fife, towards the iconic last scene where the line between spectators and professional dancers blurs and is dissolved as Scott dressed in Spanish-matador costume and Fran in Spanish-style red dress put passion back into dance, rescuing it from the deadening effect of the old brigade. Arguably the last scene enacts a vision of a more inclusive Australia that has gained freedom by including its newcomers and learning from them. Belonging does not equal individuality in the ballroom dancing world so, in order to belong, you cannot be an individual. Not belonging does not equal exclusion from every group. So, finding a group to belong to is the key to happiness. A community can make its members feel either accepted or rejected if they fail to conform to the accepted norms. If enough people work together to challenge powerful or corrupt influences, then a new sense of belonging can emerge. This is often the case with generational change. To belong is to be accepted, to be recognised, and to connect with others whether it may be with family, friends or culture. A sense of belonging is an instinctive human need in all of us as it gives us security, emotions whether they would be true or fake, and a connection or bond with others. Accepting or resisting belonging creates characteristics which define the individual. They are shown to have different forms of relationships with others in their life. Ultimately, these relationships whether based on artificial or real emotions, give the character a sense of identity and a sense of where they belong. Although it is seen as a vital requirement in everyday life, to belong is difficult as there are many barriers, and whether or not an individual can overcome these obstacles, it will essentially determine where the individual belongs. The experiences faced by the individuals also define their concept of belonging. There is always a place where everyone belongs. Being based on the conformist ideas of ballroom dancing, Strictly Ballroom, an Australian film directed by Baz Luhrmann in 1992, clearly expresses the effects of wanting to belong and not belonging through several characters. The protagonist of the film, Scott Hastings struggles to express his individuality in the ballroom community. Due to his desire to be the pans-pacific champion, he is forced to dance his own style in the opening scene, which is seen as arrogant, by the ballroom community and as a result, he isn’t accepted for the way he is. Instead he is isolated from everybody because he resists to conform to their ways. That is until a beginner dancer by the name of Fran, seen as a nobody that has been alienated due to her major differences with her appearance, dancing skill and confidence level compared to the professional dancers, embraces Scott even though at first he doesn’t identify her as a possible partner. Due to her instinctive need to belong and seeing this as her chance, she convinces him by telling â€Å" I want to dance with you, your way. † Ballroom dancing is strict competitive lifestyle, where an individual must revolve their life around it. It is seen as being flamboyant and flashy. However this world is fake and to fit in you too must be artificial in a way that you have to have false emotions. False emotions like love is shown through the ballroom style of dancing as Scott explains the Rumba to Fran as feeling â€Å"like your in love†. In the film, there is another world that is also explored in which the individual connects with family and culture. It is a world where everyone is connected despite their differences, it is the real world with real emotion, real passion and real feeling. Fran has a place in this world with her culture and family. In this case, when Scott chases after Fran he meets her family living on the outskirts of town possibly implying that they are outsiders. However, the roles are reversed. Fran is now somewhere she belongs, and Scott is excluded due to various barriers including language barriers and cultural differences. Scott is humiliated as he doesn’t perform the Paso Doble correctly due to the fact that he dances with the desire to win. As a result of not belonging he is taught by Fran’s family to dance from the heart to express authentic feeling. His instinct tells him he needs to belong with this world, in order to express his individuality. Belonging is defined in the film through two worlds, family, and ballroom dancing which completely contrast each other. Baz Luhrmann creates an understanding of belonging through various techniques that differentiate the people that belong and don’t belong. The costumes of the ballroom dancers are all colourful and flashy, while the outfit Fran wears is bland and plain, clearly showing that she doesn’t belong. As the film is ending, Baz Luhrmann uses the song â€Å"Love is in the Air† to not only outline the relationships between the characters but also to create an understanding of Scott recognising and accepting Fran for who she is. After the many experiences faced by the characters, Fran and Scott finally understand where they belong. They belong with each other. It is an instinctive need for people to belong which is evidently shown through the closing moments of the film, as everyone starts dancing, everyone belongs despite their differences, and everyone is accepted. The Lion King Disney’s The Lion King picture book written by Justine Korman relates to the idea that you do belong somewhere, but whether you accept it depends on the experiences the individual has faced. Inspired by the Shakespearean play, Hamlet, the storyline outlines where the characters truly belong. The main protagonist, Simba, is blamed for the death of his father who is King of the PrideLands, which was caused by his power hungry uncle, Scar. He is told to â€Å"run away and never return†. The idea is that Simba has been exiled and is better off not belonging with his pride. But as seen as in Strictly Ballroom, there is always a place where you belong, and its only instinct that the individual would want to belong. Simba is soon saved from possible death by a friendly duo that take him in to their jungle, into their home. They nurture him till he becomes a fully grown adult lion giving him a place to belong and feel secure. Soon after, Simba is confronted by a childhood friend named Nala, who sparks old memories and experiences of life with his pride. At first there are barriers because he doesn’t want to return and face his past but after guidance he remembers where he belongs, He remembers who he is, He remembers that he is King. Upon returning home with his friends, and defeating Scar and saving all the lions, Simba’s instincts allow him to fit in with his new pride. Belonging is defined in this picture book as being accepted, and no matter where he goes, Simba is accepted due to his instinctive need to feel safe, and have real emotions, real friendships, and a real place to belong.The illustrator, Don Williams shows this acceptance through various scenes expressing emotions on characters faces, as well as through body language. Raw Scott Monk’s novel, Raw relates to Strictly Ballroom, as the story implies that there is always a place where an individual belongs. Belonging is defined in this text as having people that you can rely on and have a good relationship with. Sam, the owner of the Farm, a correctional facility, commits himself to always being there and always being a reliable person to all the members of the Farm. Although at first the protagonist, Brett Dalton resists help and care from Sam, he cant stop his instinctive need to belong and have a connection with the members of the farm, such as having a friendship with Frog, Josh, and Sam. Scott Monk creates an understanding of belonging in this novel with imagery and dialogue, for example the scene where due to Brett’s actions, the whole Farm suffers and has to go on a long run, makes Brett feel isolated, like he’s being watched, and targeted, implying that he is an outcast and doesn’t belong. As seen as in all texts, there is always an instinctive need to belong somewhere, whether it may be with family as seen with Fran, new friends as seen with Simba, and new hope as seen with Brett.

To Kill A Mockingbird by Harper Lee Is an Inspiration for...

To Kill a Mockingbird by Harper Lee has become a mainstay in American high-schools. This is a classic novel that has inspired many people of all ages. It had a big impact on how people viewed and treated each other. This is a story that teaches everyone about the value of honesty, love, friendship and trust. Every word written in this book has a truly deep meaning to it. The time period that the book was written in was during the Great Depression in the 1930’s. This setting was in a small town in Maycomb, Alabama with people who did not get along. During this time there was a lot of segregation within America and different races. To Kill a Mockingbird is about a family who believes in doing the right thing and being honest. There was a†¦show more content†¦Even today in 2014 we have segregation in some parts of the world and a lot of racism. This teaches students how to learn from the past and to make decisions that do not involve negative aspects to it. It also shows us to be kind to each other and not to leave anyone out because of their race or color. Trying to do right from wrong was a huge problem in To Kill a Mockingbird. Nobody wanted to stand out from the pack of people who wanted to do wrong except for Atticus Finch. Atticus wanted to show his children, Jem and Scout how to follow their heart and do good deeds. When everyone said to Atticus not to defend Tom Robinson, he did not listen and did what was appropriate to do. Atticus gave Tom a fair chance at court and fought every second for him. He did not care what anyone thought or said about him, he did what was need to do to show his children the correct way of doing things. When Mr.Ewell spat in Atticus’s face, Atticus did not start a fight or stir up drama. He wiped his face and walked away because he knew Jem was watching. Atticus wanted to make the better out of a situation and never the worse. This shows students how distinguish good from bad and right from wrong. You want everyone to see you as a good-hearted and generous person. When you are honest and sincere you make superior choices that are positive for you. Courage is the ability to do something that frightens you. The main character Atticus has a huge amount ofShow MoreRelatedHarper Lee862 Words   |  4 Pagesthe Life of Harper Lee and the Lasting Impact of To Kill A Mockingbird Harper Lee is considered one of America’s most enigmatic and influential writers of the twentieth century. Lee’s popular novel, To Kill a Mockingbird, offers readers deep insight into the dynamics of an unconventional family and Southern lifestyle in the1930s. Harper Lee was born Nelle Harper Lee on April 28, 1926, in Monroeville, Alabama (Sparknotes.com). According to the author’s official website, Harper Lee was a descendantRead MoreTo Kill a Mockingbird by Harper Lee1000 Words   |  4 Pagesworld-wide recognition to the many faces of prejudice is an accomplishment of its own. Author Harper Lee has had the honor to accomplish just that through her novel, To Kill a Mockingbird, a moving and inspirational story about a young girl learning the difference between the good and the bad of the world. In the small town of Monroeville, Alabama, Nelle Harper Lee was born on April 28, 1926. Growing up, Harper Lee had three siblings: two sisters and an older brother. She and her siblings grew up modestlyRead MoreAnalysis Of Harper Lee s Kill A Mockingbird 1491 Words   |  6 PagesHarper Lee’s ​ To Kill a Mockingbird ​ is a critically acclaimed, Pulitzer Prize winning novel that instantly attained its position as one of the greatest literary classics (Editors).The story of Scout Finch’s childhood has become one of the most notable narratives that addresses controversial issues present in the early 20th century. Lee’s novel depicts themes of race, justice, and innocence throughout the novel. Although ​ To Kill a Mockingbird​ is regarded as a literary masterpiece in AmericanRead MoreThe South : Controversial Topics On Harper Lee s Kill A Mockingbird1475 Words   |  6 PagesTopics in Harper Lee’s To Kill a Mockingbird Harper Lee’s To Kill a Mockingbird is a critically acclaimed, Pulitzer Prize winning novel that instantly attained its position as one of the greatest literary classics (Editors).The story of Scout Finch’s childhood has become one of the most notable narratives that addresses controversial issues present in the early 20th century. Lee’s novel depicts themes of race, justice, and innocence throughout the novel. Although To Kill a Mockingbird is regardedRead MoreSimilarities Between To Kill a Mocking Birds and the Scottsboro and Tom Robinson Trial1045 Words   |  5 Pagescould do whatever they wanted to the black people and get away with it. Examples in To Kill a Mockingbird by Harper Lee, Portrayed similar factual evidence that the Tom Robinson trial and the Scottsboro Trial are similar. Mockingbirds dont do one thing but make music for us to enjoy† (Lee 94). American writer Harper Lee definitely worked her way up to giving people joy with her book To Kill a Mockingbird. Lee was born on April, 28th, 1926 and grew up in Monroeville, Alabama. Her father was a formerRead MoreA Silent Truth in To Kill a Mocking Bird by Harper Lee Essay1809 Words   |  8 Pages True or False. Many times students have trouble differentiating between the author of a story and the narrator. This is most likely the case with the stories that are based on the truth, but are not the whole truth. Stories that are based on the truth are not completely the truth in that the author adds small details to make the story more interesting. There are various assumptions that Harper Lee’s To Kill A Mockingbird is a story related to her own life. Similarities and differences are foundRead MoreSimilarities Between Salinger And Harper Lee s The Rye 1987 Words   |  8 Pagesthat in the novels Catcher in the Rye and To Kill a Mockingbird there are striking similarities between these novels and their respective authors’ own lives. It could be said, that these authors simply used their own experiences as inspiration to their novels. However, when taken into consideration that protagonists own conflicts are indistinguishable between their own author s personal struggles. It is feasible in stating that J.D. Salinger and Harper Lee based their novel s’ protagonist based onRead MoreKill A Mockingbird By Harper Lee1407 Words   |  6 Pages‘To Kill a Mockingbird’ takes place in Maycomb, a tired town in Alabama where ‘There was no hurry, for there was nowhere to go, nothing to buy and no money to buy it with’. Based on Harper lee’s hometown, Maycomb is fictitious, a microcosm of society in America’s deep south. Through Maycomb Lee presents the issues she sees in society such as the flawed education system, prejudice towards outsiders, racism, and ultimately the dire need for courage, in order to change these problems. TheRead MoreA comparision of the degree of Racism in To Kill A Mockingbird and Roll of Thunder, Hear My Cry.5322 Words   |  22 PagesFrom Martin Luther King to Nelson Mandela and many more in between, people have tried to encourage the condemnation of prejudice. Harper Lee and Mildred D. Taylor have tried to do this using the medium of the novel. Many people would feel that the books could be set in the 19th century due to the significance of the prejudice and racism involved. They are actually set in the 1930s and, whilst these childhood accounts were written in the second half of the 20th century, the prejudice still existedRead MoreStories2682 Words   |  11 Pageswall reveal the poignant truth, showing a family destroyed while pursuing normal family activities. At the end of the story the technology destroys the home; the story suggests that man’s technology has already destroyed humanity itself. Encourage students to note Bradbury’s use of ironically human ver bs applied to the machinery. Wider reading One of Ray Bradbury’s most famous novels is Fahrenheit 451, about a world where books are banned and burned, while The Pedestrian is a short story where

`` Wicked Games `` By Abel Tesfaye - 1566 Words

In the current era of popular music in America, childhood starlets often experience a shift or change in the genre and lyrical contents of the music they produce once they reach adulthood. While childhood stars such as Miley Cyrus and Britney Spears transformed their images towards more sexually and culturally liberal ones, African American artists, on the other hand, have to contend with toning down their music explicitly to appeal more towards white America. This essay will focus entirely on the Ethiopian artist Abel Tesfaye (also known by his stage-name â€Å"The Weeknd†) and the evolution his music endured as it struggled to appeal more towards white mainstream America. Tesfaye’s departure from his drug/sex ridden references in his previous works in order to dilute his music to appeal to a wider more age friendly audience resulted in the loss of his cultural and social background, as his identity shifted to match his new pop persona. In one of Tesfaye’s earl y songs, titled â€Å"Wicked Games,† he describes a drug and depression filled love story with heavy sexual undertones coupled with emotional scarring. He sings, â€Å"Bring your love, baby, I could bring my shame / Bring the drugs, baby, I could bring my pain / I got my heart right here / I got my scars right here† (The Weeknd 9-10). This song, along with a majority of his early mixtapes, encompasses the struggles he endured as an artist battling drug abuse and emotional trauma. He states in an interview, â€Å"I didn’t have a fatherShow MoreRelatedAnalysis Of The Song Wicked Games1697 Words   |  7 Pagesto them not having as many expectations or requirements to be able to join it as women do. Since men are dominating the industry, it is more common to hear about their masculine identity and experiences throughout their songs. I chose the song Wicked Games by The Weeknd, which was released in 2012 through his first album, Trilogy. I thought it would be inte resting to analyze a song that he wrote and produced before he became truly famous. It is common for artists to change the way they portray

A Brief Note On The Crimes Of The Past - 1706 Words

Atoning for the crimes of the past Social culture, from what we know, has an impact on the way people view the world around us, and one of the most influential we see currently is the media. As kids grow up and develop, they are exposed to a lot of media from Nickelodeon to Cartoon Network, to one of the most impactful, Disney Channel. When it comes to the media we know that over the course of time things can be skewed to look a certain way and they typically may have subliminal messages. So what message are we showing our children? When it comes to Disney and their iconic princesses, we know that they typically tend to all look the same in appearance. From Cinderella to Rapunzel, they all tend to have the same features. Straight, blonde hair and pale skin. Some concerns came with this as people started to notice these main features when it came to the disney princesses. This led to Disney including a new princess, the famous Tiana, first of her kind. However, this still begs the question as to whether or not the ne w African American Disney princess repairs the damage done by Disney over the course of time in regard to the perpetuation of racial stereotypes? Although creating Tiana is a positive step towards improvement, her creation still fails to repair the damage fostered by the perpetual stereotypes. When it comes to television, at least in the eyes of animation, different types of cartoons are being broadcasted in front of children. Growing up as a child on aShow MoreRelatedTelevision Viewing And Protective Action Against Crime1639 Words   |  7 PagesNabi, R. L, Sullivan, J. L. (2001, December). Does Television Viewing Relate to Engagement in Protective Action Against Crime?: A Cultivation Analysis From a Theory of Reasoned Action Perspective. Communication Research, (28), 802nd ser. Doi:10.1177/009365001028006004 2. This Study is for my Dependent Variables 3. 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As the author further points out, the death penalty is regarded the most severe form of punishmentRead MoreCJUS 420 Discussion Board and topic research Instructions draft1403 Words   |  6 Pagesconcerning a crime, why the crime was committed, and the person(s) who committed the crime. In our criminal justice system a person can be brought to justice for a criminal act. First, and probably the least likely, the individual will be driven by his conscience to immediately confess. Second, an officer of the law can catch him in the act. Third, and most common, a criminal investigation can identify him as suspect, after which he may confess or be convicted by trial. In most cases, when a crime is committedRead MoreEyewitness Testimony And The American Psychological Association1580 Words   |  7 PagesFor centuries, even before the rise of modern law and judicial practices, eyewitness testimony has been a crucial part in reaching verdicts in court. 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Accounting Theory Developing Financial Reporting

Question: Describe about the Accounting Theory for Developing Financial Reporting. Answer: Introduction Accounting standards are important to develop a common accounting framework to be followed by the users of accounting system. There are different measurements of cost like historical cost, fair market value, current cost and net realizable value. These measurements of cost will be analyzed in detail through explain the usefulness of other cost measurement methods to historical method. Conceptual framework is most important part of the accounting and there are certain users whoa re benefited from this conceptual framework. Also there will be discussion on the financial reports and how it impacts the decision. Usefulness of Alternative Measurement Systems to Historical Cost Historical cost is the method used to measure the value and it is used in accounting to know the price of assets and liabilities. According to this method assets owned by the organization have to be recorded at original cost or nominal cost as and when acquired by the organization (Menicucci, 2014). There are mainly three alternatives to the measurement of values in accounting as against the historical cost. Fair Market Value Method: Fair market value concept is one the popular method to value the assets and liabilities and can be used easily as against the historical cost concept. According to fair market value method, value of assets refers to value on which assets and liabilities can be purchase and sell in the open market. Fair market value is truly based on the market price of assets whereas historical cost is based on the past transactions (Amount paid when assets are brought). It is more relevant to use the fair market when accounting for assets as it provides the current market information and also keep check on the impact on inflation of assets value through accounting them (Pratt, 2010). Investors and creditors are much benefited from the fair market value concept as assets are recorded at market value that provides clearer picture of performance of the organization. Hence, this method provides more transparency to the users of financial reports. Organization exposure to risk a nd inflation can be evaluated through applying the fair market value concept. There are some dissenters who argue that accounting information presented in the market value financial statements cant be trusted and are unreliable as it is not based on the arms length price. Due to this issue, there is huge exposure to manipulation of accounts by the management and such information cannot be used in financial decision (Pratt, 2010). Market value of assets and liabilities are generally based on the subjective estimates of the managers. Sometimes fair market value of assets cant be ascertained as it is not readily available in the market therefore for such assets historical approach or fair market estimation by the manager is followed. Fair market value method is more beneficial to the investors as only this method provide current and inflated price of assets (Pratt, 2010). So it can be said that this method is the best alternative to historical cost method. Net realizable value: It refers to the estimated selling price of the assets in the ordinary course of business less the cost incurred to make the sale. As against the cost measurement bases of assets (Historical cost and Current Cost), net realizable value means actual benefit derived from an asset. There are certain assets where fair estimation of cost or historical cost proves to be volatile and there is required to follow the concept of net realizable value (Stolowy Lebas, 2006). Net realizable means lower of fair value and recoverable cost. Net realizable value is only accepted in some cases because it is strictly opposed in some cases where acceptance of net realizable value is not possible. The general reason net realizable is rejected as it results in unrealistic low values of the productive assets like plant and equipments. Net realizable value differs from the fair market value by the amount of transaction cost reduced to arrive at net realizable value and also the extent of cost of completion that differs from the market value of assets (Stolowy Lebas, 2006). Therefore, it can be said that net realizable value concept can be more beneficial in few cases where historical and fair market value concepts are not useful. Current Cost - Reproduction Cost and Replacement Cost: Reproduction cost of assets refers to the economic cost that will incur if exiting asset is replaced with an identical one. Replacement cost refers to the economic current acquisition cost that will incur to replace the exiting asset with the asset of equivalent productivity capacity or service potential (Bonham, 2008). As defined reproduction cost differs from the historical cost as it puts concerns on the most recent economical cost of assets whereas historical cost takes only the cost incurred at time of acquisition. Replacement cost is more reliable and take all aspects of accounting while estimating the replacement value of assets. Replacement value is based on the productivity capacity or the service potential of an asset not on the cost incurred to replace the exiting asset with new one (Bonham, 2008). So, current cost concept can be used as against the historical cost and it is beneficial in various situations as per the need of the organization to present the financial reports. Potential Beneficiaries from the Development of a Conceptual Framework Conceptual framework of accounting was set by the International Accounting board with mutual concern with other accounting boards. This framework sets out the concepts that define the preparation and presentation of financial statements for the external users. This framework is so designed that it mainly helps the readers and preparers of financial reports. The main purpose of common conceptual framework is to eliminate the various issues caused while preparing the financial reports as there are many differences in presentation of financial reports at country level and at international level (Alexander Archer, 2008). Therefore, IAB has come in front to solve this issue through preparing the common framework to present the financial reports that help preparers to prepare only one financial report for the origin country as well as for international level. Investors who tend to invest in the multi national companies pursue difficulties in understanding the financial reports before such framework has been made due to difference in accounting standards and presentation style of statements (Greuning Koen, 2001). Conceptual framework assists the accounting standard board in promoting harmonization of regulations, accounting standards and procedures relating to the preparation and presentation of financial statements through providing the basis in reduction of number of alternative accounting treatments followed by Accounting Boards (Weygandt, Kieso, Kimmel, 2010). This common conceptual framework helps auditors to provide their opinion on the true and fair picture of the financial statements in easier way. Through issue of common accounting standards to followed by the all accounting boards it is possible for auditors to expertise their knowledge in their interest field and get a chance to use such knowledge national as well as international level. There are certain users of the financial reports and they require having a common platform through which such financial reports can be reviewed and common opinion can be made. It is only possible through producing such a contrast yet common accounting framework at international level. This conceptual framework consists of guidelines and principles that have to be followed while framing the accounting standards (Greuning Koen, 2001). The IFRS framework defined by the IAB serves as the guiding principle to the accounting board in developing the future IFRSs and to solve the accounting issues that does not confirms with the new International Accounting Standards. Investors need to know the risk associated with their investment in various organizations and how much return they can earn through such investment. The only way to determine the risk and return associated with the investment is to analysis the financial statements, but lack of common financial statements it is not possible to evaluate the company performance with ease. Investors need financial information that guides them whether they should buy, hold or sell. Also, investors are eager to know the capacity of the organization to distribute the dividends and how much (Alexander Archer, 2008). The general purpose financial report does not provide all information therefore IFRS Framework has been framed to avoid such problems faced by the investors. The IFRS has noted that parties like prudential and market regulators find general purpose financial statements useful. On the other hand Board considered that objectives of financial reporting and general purpose financial statements are not consistent and it requires developing a common framework that governs all the accounting standards followed while preparing the financial statements (Macve, 2015). To the contrary, persons associated in preparing the financial reports complain on the requirement to prepare two different financial reports, one as per home country Accounting Board and other according to International Accounting Board. There are certain differences between IFRS and other followed Accounting Standards. Among such differences there are some issues that significantly violate the requirements at international level (Macve, 2015). All such issues have been proposed in the conceptual framework and necessary steps have been taken to overcome such issues. Conceptual framework proposes the common principles and guidelines that need to be take care of while framing the accounting standards. After such changes, it has been noticed that mostly countries have same accounting standards as given by IAB. Accountants find it easy to learn these common accounting standards and apply while preparing the financial statements (Weygandt, Kieso, Kimmel, 2010). So, it can be conclude that conceptual framework helps certain people through solving their common issues but it is true that investors and accountants are much benefited from preparation common conceptual framework. Decision Usefulness and / or Stewardship as objectives of financial reporting Decision usefulness: It refers to the method or approach used while making the financial statements and it lays emphasis on the theory of investors decision making as to infer the type and nature of information required by the investors (Kieso, Weygandt Warfield, 2010). This theory refers to the single person decision theory. The single person decision theory provides how the rational individual makes optimal decisions while having the uncertainty. This theory requires the decision maker to have set of acts from which one have to select on the basis bayes theory model. The optimal decision refers to the decision that increases the decision maker expected utility that is based on the probabilities of the states of nature. There are pre and post probabilities of states of nature that decision maker conceive while making the final decision and these probabilities are tested using the bayes theorem. Information system has wide role in decision making process as all major decisions are t aken through incorporating financial information generated by the information system (Staubus, 2013). Stewardship function of financial reporting: Stewardship is the wide concept and it is widely accepted all over the world. Basically Stewardship is taken from the word Steward. It means person who undertakes responsibility to manage the affairs of an estate hold by his employer, one who mange the financial affairs of others property and one who is appointed on the behalf of anther to take care of. IASB framework has discussed the stewardship or accountability in its Para 14. It clearly says that financial statements must show the results derived from accountability/stewardship of management (Alexander Jorissen, 2007). Owners of the organization has the right to check on the accountability of management in order to help investors to economic decision on whether to buy, sell or hold their investment. Basically stewardship function of financial reporting is linked to the agency theory as owners assign the stewardship of the company to the responsible management. They want from manageme nt to fulfill the owners objective, apply strategies to make proper use of resources and to check the misappropriation of the company assets. Stewardship is most important in the financial reporting as it considers the relation of agent-principal and tend to benefit both parties (Britton Alexander, 2004). According to stewardship function management has to report credibly to the owners of the company and must be held responsible of every wrong decision taken against the welfare of company. Stewardship is not limited to the value of assets and liabilities but it focuses on whole business model. Stewardship lays emphasis on the long term considerations, value of reporting the past transactions and events, and completeness, reliability and transparency of reporting. Stewardship can be use interchangeable with the accountability as both means acting for welfare of owners. However accountability can be used in wide context as compare to stewardship and in modern period stewardship seems to be replaced by the accountability. Among stewardship and decision usefulness functions, stewardship has been accepted as the main objective of general purpose financial accounting. Stewardship function set vast and clearer picture of reliability, completeness and transparency of financial reports to their owners. IASB has mentioned that stewardship / accountability it is most important objective of financial reporting and it is considered as separate objective of financial reporting (Alexander Jorissen, 2007). Stewardship / accountability is related with the agency theory and it has broader view than resource allocation because it focus on both past performance of the organization and how organization will perform in future (Britton Alexander, 2004). Conclusion Financial reporting is the most important part of management function and there need to consider its important aspects to have proper financial reporting. Conceptual framework plays a significant role in financial reporting and it benefits people at large mainly investors and preparers of financial reports. References Alexander, D. Jorissen, A. (2007). International Financial Reporting and Analysis. Cengage Learning EMEA. Alexander, D., Archer, S. (2008). International Accounting/Financial Reporting Standards Guide. CCH. Bonham, M. (2008). International GAAP 2008: generally accepted accounting practice under international financial reporting standards. Wiley. Britton, A. Alexander, D. (2004). Financial Reporting. Cengage Learning EMEA. Greuning, H. Koen, M. (2001). International Accounting Standards: A Practical Guide Other World Bank Bks. World Bank Publications. Kieso, D., Weygandt, J. Warfield, T. (2010). Intermediate Accounting: IFRS Edition. John Wiley Sons. Macve, R. (2015). A Conceptual Framework for Financial Accounting and Reporting. Routledge. Menicucci, E. (2014). Fair Value Accounting: Key Issues Arising from the Financial Crisis. Springer. Pratt, J. (2010). Financial Accounting in an Economic Context. John Wiley Sons. Staubus, G.J. (2013). The Decision Usefulness Theory of Accounting: A Limited History. Routledge. Stolowy, H. Lebas, M. (2006). Financial Accounting and Reporting: A Global Perspective. Cengage Learning EMEA. Weygandt, J.J., Kieso, D.E. Kimmel, P.D. (2010). Financial Accounting: IFRS. John Wiley Sons.

Strategic Leadership in Action

Summary of the Article The title of the article under discussion in this paper is ‘Google building android game console’. The article is authored by Amir Efrati and Ian Sherr and published in the wall street journal. The article is about Google’s competitive strategy in the information and communication technology industry. The company plans to introduce two new products (wristwatch and video game console) to the market.Advertising We will write a custom essay sample on Strategic Leadership in Action specifically for you for only $16.05 $11/page Learn More These products will be powered by Google’s android software launched in 2008 and will aim at combating Apple’s future devices and give the company (Google) a competitive edge. The two devices will also aim at expanding the usage of the android software beyond tablets and smart phones. Apart from the two devices, Google also plans to launch a second version of android c alled Nexus Q, which is used for live streaming of information. Statement of the intentions of the paper The paper intends to identify and elaborate some aspects of competitiveness which the authors did not address in the article. The only aspect of competitiveness addressed by the authors in the article is rivalry among existing competitors. However, they have not addressed bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitute products and services, product positioning and differentiation. Threat of new entrants In order to gain a portion of a market and build trust with the customers, new entrants usually come with unique approaches in any given industry. In most cases, they use pricing as a strategy of entering the markets. They do this by setting the prices of their products at low levels than those of the incumbents. Others may focus on improving the quality of their products so as to attract customers (Hill and Gareth 3). The r eduction of price and quality improvement makes the industry very competitive for the incumbents and sometimes they may be forced to quit the industry especially if the new entrants posses huge capital. In a reaction to price reduction and quality improvement, the incumbents may come up with strategies of putting barriers aimed at preventing new entrants from entering the industry. For example, they may adopt very sophisticated technologies which are not easily available. They may also consider putting barriers to the access of the distribution channels so that new entrants may be scared away by the restricted access to supply channels (Hill and Gareth 3). Another reaction by the incumbents is what is referred to as ‘supply-side economies of scale’ which enables the incumbents to produce large quantities of goods at relatively low costs per unit. Supply side economies of scale also cushion the incumbents from the threat of lowered prices by the new entrants. It also dis courages new entrants especially those who are not able to use price reduction as a strategy to penetrate the market and dislodge the incumbents (Hill and Gareth 3).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Bargaining power of suppliers In some industries, there are monopolies in terms of supply of goods or services. In such industries, the powerful suppliers are able to manipulate the prices of goods or services the way they want. A supplier is regarded as powerful if for instance, he or she does not depend on a particular industry for revenues and therefore, he or she can do without that particular industry. A powerful supplier is also one who supplies goods and services which are unique or one who has established a long term business relationship with certain companies. Powerful suppliers are also those who supply goods and services which cannot be substituted. A good example is p ilots and the aviation industry. This is because it is not easy to get well trained and qualified pilots within a short notice and therefore, the pilots’ unions may have a big bargaining power (Hill and Gareth 4). Another example is the Microsoft computer giant. It can decide to increase the price of operating systems. When this happens, the other computer dealers have no option other than cutting of their profits. In some cases, some powerful suppliers can also threaten to enter the markets themselves if the customers are not willing to purchase the goods at their desired prices. Companies may overcome this by having large capital base so that they can become suppliers themselves (Hill and Gareth 4). Bargaining power of buyers In some industries, there may be few but large buyers who purchase certain goods or services in bulk. Such buyers usually have a bargaining power to lower the price of goods or services in question because if the suppliers do not comply, they end up wi th minimal sales and profits. Buyers usually have power when the cost of switching suppliers is low and when the products in question are undifferentiated or are standardized. The bargaining power of buyers can affect the profitability of an industry because they may lower buying prices and then lower their selling prices. When this happens, the people who suffer are the other small dealers in the industry and the suppliers. Buyers can increase their competitive strategy by teaming up and setting the buying price of the products at a certain level. This can cushion them from unscrupulous suppliers and new entrants (Hill and Gareth 5). Threat of substitute products or services A substitute is a product which plays similar function as the original product. Examples of substitutes include the electronic mail as a substitute for sending letters by mail, video conferencing as a substitute of actual conferences and the use of plastics instead of aluminum products. Substitutes usually act as a threat to some industries, especially when they are priced in a friendly manner than the original products and when the cost of switching vendors is relatively low. Companies can guard themselves from the threat of substitutes by differentiation of their products and by teaming up to influence government policy on the introduction of substitute goods in the market (Hill and Gareth 6).Advertising We will write a custom essay sample on Strategic Leadership in Action specifically for you for only $16.05 $11/page Learn More Differentiation and Positioning In marketing, differentiation can be defined as the process of distinguishing a product or service from the rest through describing the major differences between the product or service and other products or services. As mentioned earlier, differentiation is one of the aspects of competitiveness done with a view of creating a market niche for a particular product or service. Differentiation seeks to cr eate a positive image of a particular product among the targeted consumers so as to ensure that they perceive it as unique and different from other similar products (Armstrong and Kotler 26). Product differentiation prevents the targeted consumers from comparing a particular product with others thus giving that particular product a competitive advantage over the others. When doing differentiation, the marketing departments of companies mainly use advertisement, promotions, improved product quality, lowering or increasing the prices of products and ignorance of the consumers regarding the price and quality of the product being differentiated (Armstrong and Kotler 26). Some companies may differentiate several products at the same time with the aim of acquiring a certain number of customers for the differentiated products or services; a concept called positioning. Positioning entails the use of various strategies like promotion, distribution of products or services and production of un ique products with unique pricing to build an identity of a particular company or organization in the minds of particular consumers. Through positioning, companies are able to stabilize and retain the positions of differentiated products thus retaining the competitive advantage of the company in regard to those products. In order for a company to create and maintain a particular position in a market, it needs to do a thorough research and be consistent in monitoring of market trends so as to modify or readjust the differentiation and positioning strategies for its respective products. Conclusion From the above discussion, it has emerged that competitiveness is a multidimensional concept. Many companies usually focus on their rivalry with existing competitors in designing their competitive strategies. This is the case with Google Inc. as featured in the article ‘Google Building Android Game Console’ by Amir Efrati and Ian Sherr and published in the wall street journal. H owever, there are other aspects of competitiveness which can enhance a company’s position in a certain industry. These include bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitute products and services, product positioning and differentiation. When all these aspects of competitiveness are taken into consideration, companies are able to enhance their competitiveness in their respective industries.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Works Cited Armstrong, Gary, and K. Philiph. Marketing. An Introduction, Prentice Hall: Pearson Education Company, 2009.Print. Hill, Charles, and J. Gareth. Strategic management: an integrated approach. Boston: Enfield Publishers, 2007.Print. This essay on Strategic Leadership in Action was written and submitted by user Albert Coffey to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.