An Assessment of the American Psychological Association in the Development of Professional Knowledge and Abilities of Members

An Assessment of the American Psychological Association in the Development of Professional Knowledge and Abilities of Members Consecutive studies demonstrate that career success is primarily a function of ability, personality, knowledge, opportunity, and the interactions between these variables (Rode et al., 2008). Additionally, the scope of job tasks, responsibilities, and expectations have also been cited as critical determinants of career success. Abele Spurk (2009) defines career success as the positive psychological or job-related outcomes an individual accumulates as a direct result of work-related experiences.Advertising We will write a custom research paper sample on An Assessment of the American Psychological Association in the Development of Professional Knowledge and Abilities of Members specifically for you for only $16.05 $11/page Learn More Professional bodies and organizations have been credited for assisting employees to work towards achieving their career goals and objectives and, therefore, play an important role in complimenting the efforts of employees towards the attainment of career success. This paper purposes to explain how the American Psychological Association (APA) assists its members in the development of professional knowledge and abilities, and how this impacts the career success of psychologists in the various fields of practice. Headquartered in Washington, the APA is a scientific and professional organization with over 150,000 members, thus making it the largest association of psychologists globally. According to its homepage, â€Å"†¦the mission of the APA is to advance the creation, communication and application of psychological knowledge to benefit society and improve people’s lives† (APA, 2010, para. 2). Among other things, this mission is based on continual pursuit of excellence, outstanding service to members and society, knowledge and its application based on methods of science, and ethical action in all the organization’s endeavors. The APA contributes towards the enhancement of professional knowledge and abilities of its members in a number of ways. First, the organization is not only the foremost catalyst for the stimulation, development, and dissemination of psychological knowledge and practice, but it is the primary resource for all psychologists, not mentioning that it is the premier trendsetter in the education, nurturing, and training of psychologists, practitioners, and educators (APA, 2010). Its comprehensive undertaking in research provides members with a framework to keep abreast of current issues in the broad field of psychology, and enhances their practical knowledge and abilities in dealing with new and challenging issues. In addition, the association provides members with the opportunity to network and exchange critical ideas that goes along way to sharpen their abilities to contribute more to the enhancement of human rights, health, well-being, and self-respect (APA, 2010).Advertising Looking for research paper on psychology? Let's see if we can help you! Get your first paper with 15% OFF Learn More What’s more, the publications and annual conventions arranged by the organization allows young psychologists the chance to interact with experienced members and exchange knowledge and ideas that are inarguably critical to the practice judging by the fact that psychology is an evolving discipline. The association gives its members an enabling environment to develop their professional knowledge and expertise through interaction and collaboration. Lastly, it is imperative to mention that any professional body gives its members a sense of belonging and a framework for furthering their interests, and the APA is no exception (Kuijpers et al., 2006). As already mentioned, career success is primarily a function of an individual’s knowledge and abilities. Individuals always strive to build a successful career, and a professional body that will provide them with the basic ingredients for career success is mos t welcome. Knowledge and abilities will enhances an individual’s chances to gain materially in terms of pay and hierarchical position, otherwise known as objective career success (Abele Spurk, 2008). In the same vein, having adequate knowledge and capabilities brings job satisfaction, motivation and enhanced social status, therefore enabling one to achieve what is known as subjective career success. As such, it can be concluded that engagement in professional organizations enhance one’s career success. Reference List Abele, A.E., Spurk, D. (2009). How do objective and subjective career success interrelate over times? Journal of Occupational Organizational Psychology, 82(4), 803-824. Retrieved from MasterFILE Premier Database American Psychological Association. (2010). About APA. Retrieved from https://www.apa.org/about/index Kuijpers, M.A.C.T., Schyns, B., Schreerens, J. (2006). Career competencies for career success. Career Development Quarterly, 55(2), 168-178. R etrieved from MasterFILE Premier DatabaseAdvertising We will write a custom research paper sample on An Assessment of the American Psychological Association in the Development of Professional Knowledge and Abilities of Members specifically for you for only $16.05 $11/page Learn More Rode, C.R., Arthaud-Day, M.L., Mooney, C.H., Near, J.P., Baldwin, T.T. (2008). Ability and personality predictors of salary, perceived job success and perceived career success in the initial career stage. International Journal of Selection Assessment, 16(3), 292-299. Retrieved from Academic Source Premier Database

The Closing Stock Market Price of Caffe Nero Research Paper

The Closing Stock Market Price of Caffe Nero - Research Paper Example When the stocks of companies are offered in the stock exchanges, like in this case of Caffe Nero, people will be encouraged to invest or sell stocks there. The potential investors of Caffe Nero will refer to the financial statements in deciding to invest in Caffe Nero. The financial statement is a big factor that will entice prospective investors to invest in Caffe Nero because of its 2005 net income of 1,719,000 pounds and 2004 net income is 1,684,000. Bankruptcy news can bring down the company’s stock price. News of a merger or acquisition by one big company of another big or small company will generate another round of huge investments in the new company. The prospective investors can artificially cause the stock market price of Caffe Nero to go up. The stock market price for a single stock of Caffe Nero has increased because many investors want to put their money in the income generating Caffe Nero. The closing price of Caffe Nero stock is very high due to its aggressive m arketing strategy. According to Allegra Strategies, the United Kingdom coffee industry will rise by more than 10% annually for the next few years. Stock market listing of the stocks of Caffe Nero and other companies will generate funds for their business. The stock market price is based on the basic economic principle of supply and demand principle. But if there are more people offering to dispose of their stock market shares in a company, like the Caffe Nero located in picturesque England than there are buyers, then the tendency is for the stock market price to go down. In the case of Caffe Nero, the market price just remained the same for the past years.

Career Goal Statement for Nursing Program Essay Example | Topics and Well Written Essays - 500 words

Career Goal Statement for Nursing Program - Essay Example This also fulfils my childhood dream reinforced over time. I believe in integrity, honesty and diligence in handling people’s information. I am courteous and hospitable with a higher regard for the elderly. I like interacting and socializing with friends with a view to knowing emotional, physical and psychological well-being of people. My multiple skills and experience puts me in the best position for generic nursing program. I have educational courses gained from my pre-professional nursing classes. I have helped treat complicated complications affecting a larger segment of our population like performing, teaching, and supervision of blood collection procedures. I have also conducted uncomplicated and painless tests for patients with heart diseases by recording their hearts electrical activity. I would like to hone my nursing skills and attain a top nurse status in the state. My skills will allow me overcome significant complications I have seen and experience many patients undergo. I also intend to become an Associate Degree Nurse (ADN) through internship and referrals. I would like to help reduce the rising cases of heart diseases by writing and partnering with other nurses in journals, articles and magazines. Having the EKG and Phlebotomy certifications, I am destined to become a professional nurse. I have excellent report from the lead nurse in the institution I earlier worked. I have helped treat more than 15 cases of heart complications. My previous health facility, with my assistance, collected more than 1500 blood samples kept in the blood bank. I would like to become an experienced nurse with the ability to treat and handle referral cases and emergencies. I also intend to produce my own book on Phlebotomy complications and provide an objective view of this profession. I would like to become a source of consultation in health issues by helping open an EKG section of the library in the university. I would

Diversification in a porfolio Research Paper Example | Topics and Well Written Essays - 2500 words

Diversification in a porfolio - Research Paper Example Graham (2010) observes that the risks of an investment are reduced to between 80-90% through diversification of portfolios. However, there have been questions as to whether portfolio diversification is the best way to increase returns of an investment and to yield higher returns. Some studies have shown that portfolio diversification only reduces non market risks when the diversification is done up to a certain degree. According to Hagin (2004), even though portfolio diversification reduces non market risks and increases the returns of an investment, the rule of diminishing returns usually applies at a very early stage of the investment. This paper therefore tries to answer the question as to whether diversification of portfolios with aggressive and defensive risks profiles the best way to invest. In order to answer the main question of the paper, the paper reviews the various aspects or factors that are involved in an investment and determines how they correlate with diversification and returns. Portfolio can be broadly defined as a collection of various financial assets that are owned and managed by an individual investor or a group. According to Hagin (2004), portfolio refers to combination of different investments assets that are mixed with the aim or purpose of achieving the goals of an investor or a group of investors in any given market and region. Some of the financial assets include equities, liquid assets, fixed income instruments, bonds as well as cash. The kind of portfolio an investor chooses strongly determines the risks and returns associated with that particular investment. Diversification of portfolios on the other hand refers to an investment strategy that involves mixing of various assets in order to reduce the risks of an investment portfolio. This is through the spreading out of the risks that are associated with each investment assets to ensure that when a financial crisis occurs or affects one asset, the other

Film Theory Outline Essay Example for Free

Film Theory Outline Essay From the very beginning of film, theorists have tried to dissect or understand the nature of the new medium of art. As a result various theories of film have emerged, such as feminist, auteur, psychoanalytical, Marxist, Editing and Structuralist. This essay attempts to give an outline of these various theories. One of the first theories to emerge is Editing theory, coming from the context of early Russian cinema. A key event in this regard is the experiment carried out by the film-maker Lev Kuleshov in 1918, in which he demonstrated that what the viewer perceives depends on how images are juxtaposed with each other through inter-cutting. See more: essay apa format Thus, when a human close-up is juxtaposed with a bowl of soup, the perception is of hunger, but when juxtaposed with a shot of a coffin the same close-up is perceived to express grief. Kuleshov concluded that juxtaposition was crucial towards the effect, and thus advocated the use montage in film-making. Other film-makers like Sergei Eisenstein played close attention to these findings, and made use of them in his masterpieces of montage, such as Battleship Potemkin and October. He also spelled out a comprehensive film theory based on editing in a highly influential essay from the late twenties. In it he outlined he various categories of editing, such as metric, rhythmic, tonal, overtonal, and intellectual. For example, with intellectual montage a scene may be inter-cut with something immediately unrelated, but which nevertheless works as metaphor is a more profound sense. The above came to constitute soviet montage theory, which was in contrast to the Hollywood system of continuity editing. Montage is a very visible component of film, whereas continuity editing aims to make inter-cutting invisible, so that the viewer may concentrate on the flow of the narrative in an easy way. Since the fifties a parallel theory of editing has emerged in the West which embodies the Hollywood ethos. In the same essay Eisenstein proposed a Hegelian interpretation of film montage, and which came to form the basis of Marxist film theory. He suggested that montage worked by the principle of the Hegelian dialectic, where thesis is said to beget antithesis, and are resolved in the end through synthesis. For example, when human close up is inter-cut with a glass of water, the viewer interprets this as thirst. If the face is the subject, then its antithesis is the object of vision, i. e. the glass of water. ‘Thirst’ is merely the synthesis of the two. It is present in neither of the two shots in consideration, yet emerges form the inter-cutting of the two. Of course, it was through the Hegelian dialectic that Marx had derived his famous concept of the proletariat revolution, and Marxism was the avowed principle of the Bolshevists. Therefore, it is not surprising that Eisenstein’s theories found a favorable audience in the Soviet Union. Indeed, it was instrumental in forming of Socialist realism, which became the state sponsored ideology in art. Marxist film theory soon found itself as defined in opposition to capitalistic and bourgeoisie art, in which the narrative of the protagonist finds prominence. Eisenstein’s films attempt to obliterate the presence of the protagonist, concentrating instead on the clash of images towards creating a larger ideological narrative. Even then he was accused by the authorities for not championing the workers, and for indulging in the internal mechanics of film, which was deemed to be a kind of formalism. Marxist theory held that the purpose of art is to overcome all ‘forms’ towards dialectical purification. Formalism was felt to be a bourgeoisie component. Marxist theory, as it has flourished both in the East and the West, concerns itself with dissecting films in order discredit bourgeoisie forms, usually those emerging from the Hollywood system. A native western theory of film was late in developing, and a crucial starting point was the theories developed by Andre Bazin, as editor of the French film magazine Cahiers du cinema. Up to that point films were seen as merely commercial vehicles, and Hollywood had evolved into a mighty and well groomed machine that churned films for the pleasure of the masses. Analyzing these films Bazin came to the conclusion that it was the director who left the most characteristic stamp, and as illustration he held up the work of directors like Alfred Hitchcock and Howard Hawks. He advocated that directors infuse their personal vision into the films under their charge, in order that they become the complete authors, which is the ideal state. This came to be known as the Auteur theory of film, which was given a more formal presentation by Francois Truffaut. Directors were described as using the camera as a pen towards composing their films. Another significant idea of Bazin’s was that film should aim for â€Å"objective reality†. This was in opposition to prevalent theory based on montage, which said that object of film is to manipulate reality. This instrumental approach led to the formulation of Structuralist film theory, which examines the structure of the components of film as they come together meaningfully. Instead of the dialectical approach of Eisenstein, the analysis takes into account conventional devices that have come to acquire meaning. The components that come into play are camera angle, lighting, juxtaposition, shot duration, cultural context etc. Meaning is usually accounted for by convention, and conventions change according to social and economic circumstances. For example, the highly commercial nature of Hollywood films has created the Institutional Mode of Representation, in which cinematic devices are used that make film viewing easy and exciting. For this reason it incorporates the established ideology with little departure from the norm. Other interpretations overlook the mechanics of production and instead considered the viewer as the focus of study. Psychoanalytic film theory offers such an interpretation. It is largely influenced by the views of the French philosopher Jacques Lacan regarding the child’s ‘mirror stage of development’. According to this theory the developing child endeavors to see a reflection of itself in all the objects it encounters. Psychoanalytic film theory replicates this situation with the viewer of film. The viewer is always looking for self-identification in the process of watching a film, and in this sense uses the medium as a mirror. It is usually the male protagonist who provides the focus of this identification, and functions as a conduit by which the desires of the viewer are played out. The film is said to have constructed a ‘gaze’ for the benefit of the viewer. Sometimes the gaze is simply the viewpoint of the protagonist; at other times, in the more graphic sequences, the viewer is allowed to gaze directly. Psychoanalytic theory is careful to point out that such identification is merely illusion, and therefore it differs from the identification of the child growing up, whose identifications come to form tangible character. Feminist film theory takes psychoanalytical theory a step further, in that it interprets the gaze as scopophilia, or ‘the desire to observe in secret’, which is also known as voyeurism. Such desire is sexual in origin, and feminist theory is framed in the context of the man wanted to gaze at the woman. Such a theory provides a ready explanation of the objectification of woman in film, a phenomena that has been noticed from the very beginnings of the medium. As in psychoanalytical theory, the male protagonist provides the focus of identification, but his specific desire is to objectify the women in the film, a desire which is vicariously shared by the viewer. There are three levels of objectification. First there is the camera’s point of view, then that of the protagonist, and finally that of the viewer himself, who is allowed to gaze at the women directly. Critics of this theory point out that the female viewer is not taken into account, for women also go to see the same films, and they enjoy them too. However Laura Mulvey has given convincing arguments to explain female enjoyment. She says that it is either through a masochistic identification, or a transsexual one. In the first the female takes secret pleasure in male domination. In the second, the female identifies with the male protagonist, and thus shares in the pleasure that men take. However, she is also continuously slipping back into her female identity, which is said to be a mask that she wears. Identification with the male pushes her uncomfortably close to the image of the subjected women, and the masquerade allows her to maintain a distance from it. Feminist film theory is a harsh criticism of the norms of cinema, which is also blamed on the patriarchal norms of society. The advocacy is to make films that overcome the norms, and therefore to make films that are free from female objectification.

The Rise and Fall of Country Music Essay -- Music, Robert Johnson

Is country music still country music? Country music has roots unlike any other genre of American music. Country music was one of the most influential styles of music in the twentieth century. It had stars such as Hank Williams and Johnny Cash. These stars represented what the South felt. They understood shotgun weddings, not knowing where the next meal would come from, and fearing the wrath of God while simultaneously loving the sweet and instant satisfaction that sin brings. They took those pains and painted beautiful, harsh, and most importantly real portraits of life. The majority of today’s country music, the country that is played on mainstream radio, has lost its serious feel and replaced it with a more laid back sound—which at times makes it hard to hear the difference between a rock song and a country song—and it has left behind authenticity for its Nashville sound and pursuit of money and popular appeal. Country music branches off into many sub-genres. You have the blues of Robert Johnson, the more pure country music of Williams and Cash, and the southern rock of Lyndyrd Skynyrd and The Drive-By Truckers. What is the difference between this music and the music played on the radio today? Dana Jennings, the author of Sing Me Back Home and a self-proclaimed country music lover opens his book describing authentic country music like this: â€Å"Country music is the backfire of a rattletrap pickup truck creaking down a dirt road and the lowing of a lone cow. It’s music for scouring junkyards, setting out to the porch, and shooting horseshoes†¦its TB, orphan music, and outhouse music. It’s potato sack dresses, loyal three-legged dogs, and water lugged from the well† (Jennings 1). This is the type of music played on the radio fifty ... ...hen I had it/ now it is gone I’m learning what that is†. This is the story of hating a nine to five job but realizing life is not easy by any stretch of the imagination. It is real. Good country music is still being made, just not for the radio. Trampled by Turtles, Avett Brothers, Bill Mallonee, and Drive-By Truckers are all consistently putting out great country albums. There are plenty more artists like them, putting out songs not just to make a buck, but also to express their pains and struggles, songs you can relate to and songs with feeling. It makes it that much more special finding a good country band. Sooner or later, Nashville will pay for her sins. But until then, listening to Southern Rock Opera will teach you ten times more about human frailty and the daily struggles of ordinary people than listening to a hundred hours of a country radio station.

Corporate Governance Benchmarking

Running head: CORPORATE GOVERNANCE BENCHMARKING Corporate Governance Benchmarking University of Phoenix Corporate Governance MMPBL 570 November 30, 2009 Corporate Governance Benchmarking McBride Financial Services Inc. is a low cost mortgage provider located in Boise, Idaho, Montana, Wyoming, as well as North and South Dakota. Recently, Beltway Investments became the majority investor in McBride Financial Services, Inc. As a result, McBride’s CEO needs the board of directors’ collaboration while setting up internal governance controls and ensuring proper auditing. To secure that corporate governance benefits the company and investors, McBride’s CEO needs to consider benchmarking. Thus, the authors of this paper examine the benchmarking of Adelphia Communications, Tyco, Calpine Corporation, and Tyson Foods to help develop best practices for McBride Financial Services, Inc. Accordingly, Chew and Gillan (2005) state, â€Å"The role of top management is no longer just control and coordination; it is anticipating, leading, and managing change and articulating the rationale for such change to employees† (p. ). Hence, the lack of corporate governance could not be demonstrated better than the rise and fall of Adelphia Communications. Adelphia Communications was at one time the fifth largest cable provider in the United States. The company was controlled by John Rigas, the founder of Adelphia, and his family; they controlled 60 percent of the total voting shares. The family considered Adelphia funds their own personal funds and spent them lavishly on everything from airplanes to professional sports teams. When all was finally revealed, the Rigas family received $3. 4 billion in loans from Adelphia. The company eventually filed for bankruptcy and was split up in a buyout by Time Warner Cable and Comcast (Comcast, 2006). McBride Financial Services, Inc. (MFSI) is a small company controlled by McBride, the CEO. He is looking to move to the next level, like Adelphia. MFSI has recently formed a partnership with Beltway Investments to allow growth into a regional financial services provider and form a board of directors. It is not a partnership. It is a corporation and owned by Hugh and Beltway. They are not partners which is a different legal form of business. The company needs to embrace the board of directors as an independent oversight committee and not as rubber stamp committee, yet this is the initial direction the CEO wants the board to take (University of Phoenix, 2009). Adelphia Communications failed because the board was part of the corruption and independent from the daily operations of the company. The CEO needs to also allow an external accounting firm to conduct regular audits, regardless of the results, of the company to ensure the corruption of Adelphia is not duplicated because â€Å"The way boards are structured, meeting every other month, they have to rely on outside advisers† (Patsuris, 2002). Another situation to consider is the decline of the stock prices for Tyco, turning out to be quite detrimental because of the same actions of Kozlowski, the former CEO; he failed to lead the company affectively. Kozlowski was found guilty of using company funds for his personal expenses (Cummins, 2006). Even though he was found guilty, the company’s image is still flawed and questioned, the same as the value of company stock prices. Nevertheless, Eric Pillmore is in the process of reclaiming the company’s image by reconstructing and communicating a well built ethical atmosphere. Pillmore may be strict and enforce control to help the company; perhaps if the control had been maintained through corporate governance in the past, and if employees had been at ease in bringing issues to the fore front, Kozlowski would not have been able to send the company into the tailspin it has experienced (Cummins, 2006). MFSI can learn valuable lessons from Tyco; in conjunction with legal action and a marred company because of inadequate corporate governance, Tyco has made strides in changing its business environment. Tyco has managed to make improvements, from restructuring the company ethics statement, to meeting each employee personally, supplying them with a company ethics statement, and publishing a quarterly report on any problems employees brought to the company’s attention, and compiling the findings and disciplinary actions (Cummins, 2006, para. 3). Pillmore may be strict and controlling but he has turned Tyco around by improving employee behavior, creating a trustful environment and communicating with Tyco employees. MFSI’s CEO needs to consider such changes as Tyco has implemented, to be in compliance with federal guidelines, build trusting relationships with his employees and change the tone of MFSI’s corporate culture by adhering to a new corporate governance plan. Basically, in critiquing and analyzing the roles of the key leaders of corporate governance to assess the function of ethics in compliance, key concepts and the best practices of Calpine Corporation have also been considered to help MFSI. According to Chew and Gillan (2005), â€Å"During the past decade many CEOs of large companies have become highly visible public figures,† and while MFSI is still evolving, pressure to act appropriately exists (p. 1). This visibility increases accountability for leaders’ corporate governance. In the case of MFSI, the CEO is faced with critical decision making. MFSI’s CEO’s corporate governance has the potential of creating undesirable outcomes. However, to help MFSI, the best practices of Calpine demonstrate how decision making can be executed through the code of conduct guidelines. Calpine is a successful company that despite its business strategies, it was challenged with uncontrollable environmental forces. In 1998, Calpine experienced the effects of deregulation; yet leadership followed the company’s good corporate governance to address the issue. Hence, in comparing MFSI with Calpine, it is noted that Calpine’s leadership is committed to act with integrity and transparency while MFSI’s CEO is behaving unethically by disregarding the board of directors’ and shareholders’ input. Chew and Gillan (2005) declare, â€Å"The performance of companies, good or bad, is often attributed—not only by the press, but by the directors and shareholders of the companies—to the CEO’s personal business savvy and leadership† (p. 2). Therefore, in providing MFSI with good corporate governance best practices, Tyson Foods is also considered. Tyson is a company from which MFSI can learn. MFSI’s CEO wants to control the board of directors. He tells them not to worry about doing any work or meeting more than a few times a year; â€Å"I will handle the real work,† exclaims the CEO (University of Phoenix, 2009). Tyson entered into a settlement agreement that not only cost them a considerable amount of money but also required them to practice proper corporate governance. By trying to control the board of directors, and by not offering incentive compensation and stock options, MFSI’s CEO may soon find that investors do not appreciate his self serving financial gain at the cost of their right to a good return n investment. MFSI’s CEO must take seriously, as Tyson now takes seriously, the need to allow the board of directors to be active in the business of the company and to carry out their duty to protect shareholders’ interests (Friedlander, 2008). Also, MFSI’s CEO must set up proper audit procedures, using an impartial outside aud itor while setting up internal controls. MFSI’s CEO needs to understand that corporate governance procedures are not only for his benefit but also for every investor’s welfare. The CEO needs to include others in the decision making, helping to enhance every stakeholder’s benefits. By creating transparency in their procedures and corporate governance, MFSI can help encourage the board of directors to work collaboratively to provide a good return to investors while creating long term gains that will keep the company running strong. If MFSI’s CEO continues to try to circumvent the company’s processes and make the board of directors a powerless figurehead, his investors might soon become disgruntled and take their investments elsewhere. Conclusion Maintaining state and federal guidelines and staying within the company’s code of conduct can be challenging. Thus, top leaders need to delineate the roles of each person in charge of decision making and correct any incompatible behaviors contrary to good corporate governance. In the case of McBride Financial Services, Inc. , for instance, corporate governance was identified as incongruent with the overall ethical code of conduct and responsibility of top leadership. While the best practices of the companies mentioned in this paper offer fundamental principles to executing decision making in managing the interests of stakeholders, it is also critical to adhere to all Federal ethical guidelines to help mitigate any potential undesired outcomes. Synopsis of Adelphia Communication by Michael Gillespie Issue in the Scenario that is facing the company Adelphia Communications was a publicly held company owned mostly by the founder John Rigas and his family. Adelphia had a board of directors the consisted of nine people, five of them appointed by the Rigas. Over a five year period of time the Rigas family â€Å"loaned† $3. 1 billion dollars from Adelphia. This was $800 million more than what was initially reported during an SEC investigation (Patsuris, 2002). These â€Å"loans† financed everything rom real estate ventures, airplanes, country club memberships, and operating the Buffalo Sabres hockey team. The Board of Directors fired the auditor of the company, Deloitte & Touche, when they began to question some inconsistencies found during an audit (Farrell, 2002). Ironically, Adelphia sued Deloitte & Touche for incompetence. If Adelphia’s board of directors had been independent, the board would have had to r ely on reports from management, external auditors and consultants, in order to determine the company’s status. Unfortunately, Adelphia’s board was so packed with insiders it was hardly in this position. Company response to the issue Soon after the termination of Deloitte, PriceWaterhouseCoopers was selected as the new auditor for Adelphia. The first step for PWC was to re-audit previous year’s financial statements. Two weeks after the hiring of PWC, Adelphia filed for Chapter 11 Bankruptcy protection and was able to secure $1. 5 billion in debt to continue operating. The company hired a new board of directors. To fill these positions the firm went outside the Adelphia umbrella and searched for ethical industry veterans to become board members. John Rigas was sentenced to 12 years in prison and his sons were sentenced to 17 years. Outcomes from the company’s response Adelphia Communications was never able to recover from the lack of corporate governance and the corrupt management of the company. In 2006, Time Warner Cable and Comcast Cable purchased Adelphia for $12. 7 billion in cash and stock options (Comcast, 2006). This deal took over 40 months to complete due to fraud and security investigations and the fact that Adelphia was operating under bankruptcy protection. Synopsis of Tyco by Colleen Holdahl Issue in the Scenario that is facing the company Tyco faced major legal issues in 2002 and was responsible to pay a â€Å"$50 million fine to settle claims that it inflated profits from 1996 through 2002† (Cummins, 2006, para. 3). Dennis Kozlowski, the company’s CEO, was found guilty of embezzling funds to such extravagance as reporting he purchased â€Å"a $6,000 shower curtain† (Cummins, 2006, para. 2) and hosting a â€Å"$2 million birthday party for his wife† (Cummins, 2006, para. 2). With all the turbulence Tyco has gone through, the present leadership is making progress to clean-up the company’s reputation. Eric Pillmore, the current senior vice president of corporate governance, has been the leader of the clean-up. Outcomes from the company’s response Pillmore started ‘cleaning-up’ Tyco by implementing a new corporate governance plan; starting with the replacement of the previous board of directors, developing, and forming a new ethics code. The newly implemented governance plan â€Å"first principle calls for strong leaders who see themselves as stewards of the company and mentors for its future leaders† (Cummins, 2006, para. 9). Pillmore is of the conclusion that some of the former leaders have more concern with their own self significance; seeing themselves as ‘wheeler dealers,’ instead of being responsible and looking out for the best interests of the company. Pillmore also believes one of the most critical functions of his job as chief financial officer is to monitor the finances and act as a mentor to everyone in the company (Cummins, 2006). Among Pillmore’s other philosophies is ‘a web of accountability’ and ‘a robust process to understand why people behave the way they do’. He believes every employee has something to contribute to maintain an ethical business environment and leaders should not be intimidating. Employees should be free to approach their company leaders on ethics and company values issues. Outcomes from the company’s response Eric Pillmore takes the time to meet each employee, supplying them with the company’s ethics statement, and to discuss concerns or issues they may encounter. Tyco â€Å"publishes a quarterly report on any problems employees brought to the company’s attention, then the company’s findings and any disciplinary action- leaving out all employees’ names† (Cummins, 2006, para. 3). After the turbulence and with the help of Pillmore, Tyco has turned around and once again has a positive company image and the stock has recovered most of its value. Tyco received a rating by the Governance Metrics International as â€Å"one of the most improved companies globally; on a scale of one to te n, Tyco rose from a 1. 5 at the end of 2002 to 8. 5† (Cummins, 2006, para. 13). Synopsis of Calpine Corporation by Marisela Jimenez Issue in the Scenario that is facing the company Calpine Corporation is a successful independent power company that has strived to improve its business operations to help it advance its mission, values, and vision. While Calpine has managed to sustain its record high profits, the company, nevertheless, has faced changes in the business environment, particularly in deregulation. In 1998, a national movement, led by state legislation across the country, passed a U. S. Congress bill to accelerate and spread nationwide electric deregulation (FindingUniverse, 2009). This issue affected Calpine’s overall business functioning. Company response to the issue However, Calpine responded to the issue by focusing on the opportunities presented by deregulation. In other words, â€Å"The company’s foundation as a service provider to power plant operators and its subsequent development into a power plant operator itself engendered a vertically integrated enterprise primed for the new competitive era† (FundingUniverse, 2009). Calpine synergized its operations and focused on developing systems to maximize resources by improving conceptual designs, financing, construction, operation, fuel management, and power marketing. Through the synergistic approach to the business of producing electricity, Calpine managed to remain competitive in the market by strategically preserving profits without cutting the highly aggressive rates. The changes in deregulation helped Calpine’s leadership take immediate action by addressing the uncontrollable forces affecting the company. Leadership realized the potential for deregulation and its implications in the company; therefore, when Congress passed the deregulation bill, Calpine’s leadership was competently prepared. Outcomes from the company’s response Calpine’s outcome of the company’s response to the issue helped expedite the acquisition of 46 gas-fired turbines produced by Siemens Westinghouse. This acquisition radically enhanced Calpine’s market presence; leadership identified the opportunity of expansion as a result of deregulation. Basically, â€Å"The combination of Calpine management’s intuitive powers in foreseeing a growing demand for capacity and its willingness to gamble heavily paid handsome dividends,† enabling Calpine to grow into a successful company (FundingUniverse, 2009). Calpine’s leadership, however, ensures that their commitment to good corporate governance adheres to the highest ethical standards; thus, leadership behaves with integrity and transparency while maintaining strong levels of communication with stakeholders, including the board of directors, employees, and the community. Calpine’s leadership decision making is guided by the company’s code of conduct, helping to discourage any illegal and unethical behavior (Calpine, 2009). Synopsis of Tyson Foods by Carole Kindt Issue in the Scenario that is facing the company Over the years Tyson Foods has handled controversial issues concerning their business practices. They have been questioned over their ties to former President Clinton, unsanitary and dangerous conditions in their plants, plants staffed by low-paid workers, and even questionable campaign contributions (Unknown 1, 2009). In 2008, Tyson entered into a settlement with its investors over questionable practices in a case that named Don Tyson, members of his family, and the Board of Directors. The case alleged misconduct in connection with related party transactions and granting stock options to officers and directors of Tyson (Chase, 2008). The settlement agreement approved by the judge in the case ordered Tyson to pay $4. 5 million to their largest shareholders and forced improvements to Tyson’s corporate governance policies (Chase, 2008). As part of the settlement agreement, Tyson agreed not to engage in any new related party transactions without the approval of the Board and also to hire a consultant to evaluate its internal audit and control processes (Chase, 2008). Company response to the issue Tyson’s Board of Directors immediately began fulfilling the terms of the settlement agreement and they have worked to create a strong corporate governance structure. In 2008, the Board appointed a lead independent director and a new chairman of its compensation committee as well as establishing a nominating committee (Unknown 2, 2008). By focusing on their internal controls and corporate governance, Tyson’s board of directors has returned to their fundamental task, to work in good faith to assure they are upholding their fiduciary duties to the stockholders. Outcomes from the company’s response Tyson’s board of directors received a wake-up call that shook them out of their lassitude and encouraged them to make changes that enhance the long term goals of Tyson Foods as well as the return for their investors (Friedlander, 2008). In this way, Tyson will rebuild its reputation and trust with investors as well as fulfill the company’s long-term goals. By creating committees made up of independent, non-biased members, Tyson will create the transparency necessary to rebuild investor trust and build their company for the future. Good choice of companies and relating some of the take-a-ways to McB. Paper easy to read and follow but you could have worked the lesson into McB in more detail. Grade 96 References Calpine. (2009). Corporate Governance. [Online]. Available: http://www. calpine. com/ About/oc_corpgov. asp (2009, November 25). (Chase R 2008 Judge Approves $4. 5M Settlement Against Tyson Foods Directors. )Chase, R. (2008). 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(Friedlander J 2008 Overturn Time-Warner Three Different Ways)Friedlander, J. (2008). Overturn Time-Warner Three Different Ways. Delaware Journal of Corporate Law, 33(3), 631-649. Retrieved November 24, 2009, from Business Source Complete database Web Site: http://support. ebsco. com. FundingUniverse. (2009). Calpine Corporation. [Online]. Available: http://www. fundinguniverse. com/company-histories/Calpine-Corporation-Company- History. html (2009, November 25). Patsuris, Patricia (2009). Adelphia Hypocrisy. Forbes. om. Retrieved on November 25, 2009, from http://www. forbes. com/2002/06/10/0610adelphia. html. (Unknown 2 2008)Unknown 2. (2008). Retrieved November 23, 2009, from http://www. tyson. com//C orporate/PressRoom/ViewArticle. aspx? id-2879 Web Site: http://www. tyson. com. (Unknown 2009 Tyson Foods, Inc. )Unknown 1. (2009). Tyson Foods, Inc. Retrieved November 24, 2009, from http://www. fundinguniverse. com/company-histories. /Tyson-Foods-Inc-Company-History Web Site: http://www. fundi nguniverse. com. University of Phoenix (2009). McBride Financial Scenario. Retrieved November 16, 2009 from rEsource student website.