King Lear Essay Example | Topics and Well Written Essays - 2000 words

Ruler Lear - Essay Example Lear acquired and saw awful and great attributes from them two. The narrative of King Lear instructs us that the connecting of inordinate significance to things in the material world causes interests and languishing. Toward the starting the awful overpowers in Lear’s character. We see Lear-dictator. From one perspective his oppression beginnings from the primitive privilege of a ruler. On the other one, being a remarkable individual, encompassed by all inclusive adoration, he gets a bogus thought that his imperial pride settles upon his own predominance. Like the remainder of the characters, Lear has a profoundly evolved individualistic cognizance, which is a component of the new brain science. Shockingly, this attention to individual pride obtains uneven, proud character, which uncovers itself in unreasonably high estimation of oneself, arriving at the most extreme level of self-veneration. This element was conceived by the social structure itself, where everyone applauded his enormity, where everything appeared to occur as per his will. Accepting that it is his character that made a difference, Lear loses his presence of mind and leaves his seat, sure that individuals won’t stop t remble for him. This insane conviction makes him hand the realm to his little girls, become a man without a title and experience all the hardships related with human life. Over the span of the play we see, notwithstanding, that Lear keeps grasping at his medieval nobility. The impression of his being a ruler has solid roots in him and the propensity for instructing the others doesn't leave him in any event, when he, dismissed and deserted, meanders in the field. In insanity, he cries: â€Å"No, they can't contact me for instituting; I am the lord himself†; â€Å"Ay, each inch a ruler: When I do gaze, perceive how the subject quakes† (IV, 6). His madness lies in the reality cap he keeps seeing himself as the ruler, the man remaining over the rest, while the enlightment will come as he sees his

Essay --

Actualmente existe un desequilibrio econã ³mico a nivel mundial. Este tipo de emergency provoca que las estructuras sociales econã ³micas existentes creen desajustes laborales innegables. Podemos observar en diferentes paã ­ses del mundo ya sean desarrollados, sub desarrollados o de tercer mundo problemã ¡ticas graves de conflictos sociales. Evidentemente para todos, el trabajo es uno de los componentes principales para que una naciã ³n se enriquezca cada vez mã ¡s. Es por esto que todos debemos tener un conocimiento bã ¡sico de las relaciones laborales comparadas a nivel mundial. Esto es asã ­ ya que tanto en Puerto Rico como en el mundo entero existe un impacto por causa de la globalizaciã ³n y el neoliberalismo. Evidentemente en el mundo moderno vemos una serie de problemã ¡ticas las cuales child parte de nuestro diario vivir. Entre ellas estã ¡ el sometimiento del estado hacia la sociedad queriendo su bienestar el cual utiliza la competencia de mercado mundial. Tambiã ©n, podemos observar en la sociedad common pã ©rdidas de los empleos e ingresos, de la seguridad laboral y de la seguridad material. Del mismo modo, observamos una nueva pobreza la cual abarca y provoca la desigualdad, la inseguridad social y la criminalidad. Por otro lado, vemos en muchos paã ­ses del mundo real la pã ©rdida del poder de los ciudadanos, la dictadura del capital y el retroceso de la democracia. Para algunos la globalizaciã ³n y la visiã ³n del neoliberalismo no es lago del todo negativo ya que muchos se basan en que con estos conceptos se pueden catalogar como el surgimiento de una nueva time de poder, riquezas, crecimiento, desarrollo y supuestas oportunidades para los paã ­ses. Es por esto que la supuesta globalizaciã ³n tiene una versiã ³n optimista la cual mejora las oportunidade... ... uno democrã ¡tico y verdaderamente no tomamos ningã ºn tipo de decisiones, en la cual nosotros la sociedad common parecemos ‘’plebeyos’’ los cuales nunca vamos a tener poder ni dinero en abundancia ya que child solo unos pocos los que gozan de esos privilegio. Child esos pocos que al parecer no les importa quien este en el medio para ellos tener una vida en abundancia y child esos pocos los cuales su visiã ³n y misiã ³n es ser dueã ±os de todo el dinero del mundo y observar como la mayorã ­a muere de hambre. Tristemente no podemos hacer mucho para tratar de evitar esta triste situaciã ³n tenemos que seguir viviendo en este gran horroroso sistema. No obstante, el vivir en el mismo no dejamos de ser personas pensantes. Debemos dejar de patrocinar los polã ­ticos marionetas que los poderosos nos presentan como una obra de teatro de comedia. Debemos vivir en el sistema pero con conciencia. Exposition - Actualmente existe un desequilibrio econã ³mico a nivel mundial. Este tipo de emergency provoca que las estructuras sociales econã ³micas existentes creen desajustes laborales innegables. Podemos observar en diferentes paã ­ses del mundo ya sean desarrollados, sub desarrollados o de tercer mundo problemã ¡ticas graves de conflictos sociales. Evidentemente para todos, el trabajo es uno de los componentes principales para que una naciã ³n se enriquezca cada vez mã ¡s. Es por esto que todos debemos tener un conocimiento bã ¡sico de las relaciones laborales comparadas a nivel mundial. Esto es asã ­ ya que tanto en Puerto Rico como en el mundo entero existe un impacto por causa de la globalizaciã ³n y el neoliberalismo. Evidentemente en el mundo moderno vemos una serie de problemã ¡ticas las cuales child parte de nuestro diario vivir. Entre ellas estã ¡ el sometimiento del estado hacia la sociedad queriendo su bienestar el cual utiliza la competencia de mercado mundial. Tambiã ©n, podemos observar en la sociedad common pã ©rdidas de los empleos e ingresos, de la seguridad laboral y de la seguridad material. Del mismo modo, observamos una nueva pobreza la cual abarca y provoca la desigualdad, la inseguridad social y la criminalidad. Por otro lado, vemos en muchos paã ­ses del mundo genuine la pã ©rdida del poder de los ciudadanos, la dictadura del capital y el retroceso de la democracia. Para algunos la globalizaciã ³n y la visiã ³n del neoliberalismo no es lago del todo negativo ya que muchos se basan en que con estos conceptos se pueden catalogar como el surgimiento de una nueva period de poder, riquezas, crecimiento, desarrollo y supuestas oportunidades para los paã ­ses. Es por esto que la supuesta globalizaciã ³n tiene una versiã ³n optimista la cual mejora las oportunidade... ... uno democrã ¡tico y verdaderamente no tomamos ningã ºn tipo de decisiones, en la cual nosotros la sociedad common parecemos ‘’plebeyos’’ los cuales nunca vamos a tener poder ni dinero en abundancia ya que child solo unos pocos los que gozan de esos privilegio. Child esos pocos que al parecer no les importa quien este en el medio para ellos tener una vida en abundancia y child esos pocos los cuales su visiã ³n y misiã ³n es ser dueã ±os de todo el dinero del mundo y observar como la mayorã ­a muere de hambre. Tristemente no podemos hacer mucho para tratar de evitar esta triste situaciã ³n tenemos que seguir viviendo en este gran horroroso sistema. No obstante, el vivir en el mismo no dejamos de ser personas pensantes. Debemos dejar de patrocinar los polã ­ticos marionetas que los poderosos nos presentan como una obra de teatro de comedia. Debemos vivir en el sistema pero con conciencia.

Poem Analysis Essay Writing Service

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Bachelor Degree in Business Focus Business Career Options with an Emphasis in Finance 2019

According to the U.S. Department of Labor, individuals with more education will have more money and experience lower rates of unemployment for life. Many professionals are now choosing to return to school to earn a bachelor degree in business with hopes of improving their career status. Colleges are now enabling working professionals to advance or expand their careers with a Bachelor Degree in Business through any one of four specialty areas: Management of Information Systems. Business Assurance and Security. Accounting. Finance. Spotlight on Finance: Business Bachelors Degree in Finance Bachelor degree in business students who choose to focus on finance receive training in financial operations, services, and techniques. Specific areas of study for college finance students include: Capital budgeting Asset evaluation Forecasting Securities analysis Students also gain an understanding for the influence of financial markets on investment strategy methods. Bachelor Degree in Business Finance students obtain positions in business banking, retail, and financial service firms. .u886b8560c343014231b7e304a704b574 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#eaeaea; border:0!important; border-left:4px solid #34495E!important; box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -moz-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -o-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -webkit-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); text-decoration:none; } .u886b8560c343014231b7e304a704b574:active, .u886b8560c343014231b7e304a704b574:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u886b8560c343014231b7e304a704b574 { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u886b8560c343014231b7e304a704b574 .ctaText { font-weight:bold; color:inherit; text-decoration:none; font-size: 16px; } .u886b8560c343014231b7e304a704b574 .post Title { color:#000000; text-decoration: underline!important; font-size: 16px; } .u886b8560c343014231b7e304a704b574:hover .postTitle { text-decoration: underline!important; } READ Find Education and Teaching Degree ProgramsAlternative Options with a Bachelor Degree in Business During the 2016 2017 academic year, 307,149 bachelor business degree diplomas were awarded. One of the reasons for its popularity as a bachelor degree choice is that a Bachelor Degree in Business provides a broad educational foundation for a wide variety of career paths. Students who graduate from an accredited bachelor degree business online program may enter a career in banking, financial services, purchasing, information technology, or any number of options within the business setting. A Bachelor Degree in Business leads to the development of critical thinking skills that help professionals make well-constructed decisions in todays business world. A bachelor business program provides working professionals with the necessary technical skills to thrive in their specialty of choice. Related ArticlesBachelor Business Degree in Management of Information Systems Enter an IT Career in the Business EnvironmentFinding a Business Administration CareerOnline Finance Degree and a Secure Financial FutureOnline and Campus Based Education in North CarolinaRN to BSN Program Nursing Students Discuss Financial Payoffs of Higher EducationBusiness Administration Careers You Should Consider .u6cc55e341760ffe7545941776ed771cc { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#eaeaea; border:0!important; border-left:4px solid #34495E!important; box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -moz-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -o-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -webkit-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); text-decoration:none; } .u6cc55e341760ffe7545941776ed771cc:active, .u6cc55e341760ffe7545941776ed771cc:hover { opacity: 1; transition: opacity 250ms; webkit-trans ition: opacity 250ms; text-decoration:none; } .u6cc55e341760ffe7545941776ed771cc { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u6cc55e341760ffe7545941776ed771cc .ctaText { font-weight:bold; color:inherit; text-decoration:none; font-size: 16px; } .u6cc55e341760ffe7545941776ed771cc .postTitle { color:#000000; text-decoration: underline!important; font-size: 16px; } .u6cc55e341760ffe7545941776ed771cc:hover .postTitle { text-decoration: underline!important; } READ Sleep Apnea Health Care

Reasoning And Justification For Drug Abuse - 1542 Words

Growing up in a small rural town in Wyoming, I have personally seen many peers use reasoning and justification for drug abuse that sounds very similar to the reasoning exemplified by Russell Brand in the above quote from his book. Drug use is potentially explained by many different criminology theories, but the one that does the best job of explaining drug use is presented by Gresham M. Sykes and David Matza of Princeton and Temple Universities respectively, and is called: Techniques of Neutralization. According to the root article published in the American Sociological Review of December 1957, Matza and Sykes argue that delinquency is a justification of crime â€Å"that is seen valid by the delinquent but not by the legal system or society at large.† Sykes and Matza state that young people that perform criminal acts still uphold and value societal norms and expectations for how one should act, rather than completely replacing society s values as contrary to Sutherland s theor y of differential association (which states that offenders have â€Å"motives, drives, rationalizations and attitudes favorable to violation of law†). Four observations of young delinquents are then provided to back up the previous statement. First, they note that delinquents often feel remorse or shame for their actions, if their values upheld violation of the law then this would not occur. 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The current Economic Situation in SA, India and Germany Free Essays

string(28) " damage to the environment\." Since the successful hosting of the roll cup football 2010 AS has sustained GAFF at Just under 20%. IN has been spending a large portion of its GAP on GAFF and this increased even more in 2004 to 2007 when they saw an increase from approximately 25% to 33%. GE has seen a gradual decline in GAFF however we expect to see this continue at the same rate as Germany continues to invest in renewable energy technology and infrastructure. We will write a custom essay sample on The current Economic Situation in SA, India and Germany or any similar topic only for you Order Now Extrapolating IN and AS GAFF to 2020 we expect to see much the same ratio and a moving average extrapolation through to 2020 has been used for both countries. Economic theory states that gross savings, made up from the surplus between income and expenditure of households, business and government, is used to finance GAFF. The assumption is that these savings are stored in financial institutions and these institutions lend the savings to entrepreneurs and businesses in order for them to invest in capital. We can see from Fig. A. 9 in Appendix A that the correlation between the proportion spent by the 3 countries on GAFF is proportional to the countries gross savings. AS savings as a percentage of GAP is extremely low in comparison to both GE and IN. Although AS can lend money in order to fund GAFF which it does this is not an ideal situation. It is essential for a country to consistently spend on GAFF as it is the capital which grows and sustains any economy. The culture in AS is not to save and in order to consistently fund capital it is essential for the AS public to start to save. 12 Fig. A. II in Appendix A indicates human development index (HID) for AS, IN and GE for the period 1995 to 2020. The HID is a measurement of life expectancy, educational attainment and income. The value expressed by HID is a value between O and 1 . The human development index is a measure of equality within a country and a value of 1 would mean perfect equality ND O would mean perfect inequality. As expected GE the developed country has the highest HID rating with an average of over 0. 9 since 2005. AS comes in second place with an average of 6. 19% from 2005 to 2014. AS has one of the world’s most progressive constitutions and is based on the belief that AS belongs to all who live in it. AS is not without its equality challenges and unemployment, declining education system (WEFT global competitiveness report rates AS education as 46th out of 148 countries), high crime rates (rape in AS is the highest in the world), and widening gap twine rich and poor. IN score worst on the HID as a result of a large population many of whom live in abject poverty. It is however nice to see that things in IN are changing and they have come a long way since 1995 when they scored only 0. 4 HID and in 2014 they scored 0. 56 Just less than AS. Extrapolating GE HID to 2020 we SE no reason for any change and expect to see consistent value Just above 0. 9 for the whole period 2014 to 2020. Extrapolating AS HID to 2020 we expect the effects of a less competitive education system coupled with increasing unemployment, growing crime ate and widening of the gap between rich and poor to stagnate any improvements and predict a possible decrease in the HID for AS over the period 2014 to 2020. Inequality in IN is still a problem and we predict moderate improvement in HID but until there is a fundamental change especially in inequality between gender IN is unlikely to exceed 0. On the HID scale before 2020. 13 3. Conclusion 14 4. References 15 Appendix A 1 1. Introduction This assignment presents a range of economic variables from 1995 to present day and then extrapolates these variables to 2020. The economic variables are presented n three countries: South Africa (AS) India (IN) Germany (GE). The assignment explains trends and reasons for changes including the interrelationships between the economic variables, the countries presented, global economic forces and other socio-political economic factors within the specific country being described. AS is an upper-middle-income, emerging market economy and has been so for over 50 years. AS has an abundant supply of natural resources and a diversified well developed economy which boasts a service sector which accounts for more than 65% of total economic activity. AS has shown impressive GAP growth since it was welcomed back onto the international stage after spending many years in economic isolation from the rest of the world. AS has a functional infrastructure which falls short predominantly in the shortage of energy which has contributed to slowing economic growth. Eskimo, the AS parental power supplier, is building two new MAMMA coal fired power stations (Medium and Sessile) which were due to come on line in 2012 and when finally completed should relieve the energy crisis AS has faced since 2007. AS faces a number of other challenges which will be discussed in the odd of this assignment. If AS is to escape the middle income trap it needs to realism a GAP growth in excess of 6% for over 20 years. IN has a long history which includes British colonization. After years of passive civil disobedience and resistance to British rule, by the likes of Mahatma Ghanaian, IN finally got its independence in 1947. Economic reforms in 1991 helped IN to average over 6% growth from 1998 to 2014. India has a rapidly developing economy that is well diversified specializing in the IT and business service sectors capitalizing on a highly educated and skilled workforce. IN has many challenges including a large population many of whom live in abject poverty, government corruption and pollution which has caused extensive damage to the environment. You read "The current Economic Situation in SA, India and Germany" in category "Papers" GE in terms of purchasing power parity (POP) is the 5th largest economy in the world and boasts the largest economy in Europe. GE is considered a upper-income developed economy and is renowned as a leading machinery, car, chemical and technology exporter in the world market. GE has a highly productive, highly skilled, technical and well educated population which enables them to remain competitive on the European and global stage. In 1999 GE and 10 other European countries formed the European Union (EX.) and they introduced a common currency called the Euro. GE has committed to decommission all its Nuclear power stations, which account for 25% of Gee’s power supply, by 2022. GE is investing extensively in renewable resources and is emerging as a world leader in this sector. 2. Discussion Inflation 2. 1 There are many causes of inflation, we take a look at a few of the causes in the context of the countries in the spotlight: Demand factors Rise in production costs Exchange rate fluctuations The crude oil price The cost of labor. Fig. A. In Appendix A indicates the average annual inflation for AS, IN and GE from 1995 to present and extrapolated to 2020. From Fig. A. L, it can be noted that GE a developed country has a very stable inflation rate that is consistently low averaging 1. 56% for the period 1995 to 2014. The prevailing reason for this is that GE has a very strong stable currency and is not exposed to exchange rate fluctuations. GE also has a very low population growth with an average year on year of -0. 4% for the period 1 996 to 2014 which means any increase in demand for goods from GE has to come room the global market and not within its own borders. The rise in production costs as a result of high labor costs in GE possibly accounts for the majority of the inflation. GE has to large extent countered inflation by mechanizing production and reducing labor inputs coupled with the fact they have a highly skilled, educated and productive workforce which counters the high cost of labor in GE. Germany inflation is extrapolated, using a moving average calculation, to 2020. Consideration was given to GE stable inflationary history and the strict austerity measures the EX. has chosen since the global recession in 2008. In contrast to the stability of inflation in GE, inflation in AS and IN the two developing countries has been extremely volatile. Although AS and IN have positive population growth and a growing middle income population which feeds internal demand for goods and services the AS and IN economies remain heavily reliant on the rest of the world. On the 18 July 2014, Gill Markus the SARA governor hiked interest rates by 25 basis points in an attempt to curb inflation. The hike in interest rates should have an effect on reducing inflation as the cost of credit increases and consumers tighten their belts. The extrapolation of the AS inflation data to 2020 is a mathematical moving average keeping within the targets set by the SARA of 3-6%. There is a growing risk that inflation is likely to exceed the SARA targets. Due to pressure in terms of slow economic growth SARA is unlikely to hike interest rates by too much as this would stifle economic growth. Business in AS is coming under increased pressure from Labor. MIMIC and NINJA Strikes in the Platinum belt coupled with the current NASSAU strike will inevitably increase the cost of labor which in turn will have a knock on effect on increasing inflation. The NC government are considering alternate employment development incentives which if successful will help reduce the cost of labor, accelerate economic growth and reduce inflation. AS is extremely exposed to crude oil price hikes and exchange rate fluctuations which cause the cost of imported goods to raise with a rise in exchange rates. SOLO has the potential to provide a buffer to the oil price and effects of exchange rate on landed oil price; however they operate on an import parity pricing model. The competitions commission has handed down heavy nines on SOLO and the regulation of the SOLO import parity pricing model is highly likely. This will roll out to the Plastics industry in AS and should have a positive effect on Job creation, lower input costs and effectively lower inflation. 2. 2 Economic Growth Fig. A. 2 in Appendix A indicates the gross domestic product (GAP) of three countries AS, IN and GE for the period 1995 to 2020. On the primary vertical axis is billions of international dollars the measure using purchasing power parity (POP) theory which enables us to negate the effects of exchange rates between countries and compare GAP in real terms. The GAP POP measure is interesting in that it shows the relative size of the 3 economies to each other. We can see Just how small AS is in terms of the bigger players and although this may be disconcerting it is important to remember that AS has the 23 largest economy in the world. On the secondary vertical axis (Fig. A. 2 in Appendix A) we can see the percentage change year on year in GAP. Between 1995 and 2007 AS and IN experienced 3. 6% and 6. 9% growth year on year. GE was not as successful with average growth of only 1. 6% over the same period. Then came he great recession or economic meltdown of 2008/2009 where all 3 countries saw a downturn in GAP especially AS and GE who registered a negative GAP growth in 2009. Inn’s GAP growth only dipped to Just over 5% in 2009 showing a resilient economy not overly exposed to the rest of the world. In the recovery phase all three countries recovered well however a second dip in 2011 to 2012 hit IN the hardest and IN dipped to Just under 4% GAP growth in 2012. AS hosted the 2010 FIFE world cup soccer which created large scale infrastructural spending by the government through the recession period helping to boost the AS economy. Extrapolating GAP growth into 2020 for IN there is likely to be sustained albeit slower GAP growth. IN has a burgeoning youth who are very well educated, are willing to work for very little and can converse extremely well in English giving IN a competitive advantage on the global market in the business service sector. IN is however coming under a lot of pressure from the Philippines who are competing in similar global markets in the business service and IT support sectors. IN needs to look to new industries in order to sustain its GAP growth. Extrapolating GE GAP growth to 2020 we note that GE has a eclipsing population however with their commitment to renewable resource energy technology and the growing emphasis in the world on green initiatives it is likely that Germany will capitalist on this advantage in order to sustain very moderate GAP growth. GE has a responsibility to other EX. countries and the poor performance of other EX. players could curb economic growth in GE. AS has a lot of challenges it needs to overcome in order to achieve sustained growth and escape the middle- income economy trap that has been its nemesis for the last 50 years. AS needs to address its labor issues and overcome the growing gap between rich and poor. The world economic forum competitiveness report indicates a host of positive factors which AS can build on however there are a number of shortcomings and AS needs to address these if it wants to continue to grow its economy. Extrapolating AS growth to 2020, it is difficult to foresee the current AS government under its leadership making any major inroads to solving the macro economic problems that will allow AS to realism larger GAP growth. Coupled to this the fact that AS is highly dependent on China and Europe for economic growth, the outlook for AS is moderate and we could e stagnation or even a decline in GAP over the next few years. Extrapolating IN growth to 2020, we perceive continued high GAP growth which exceeds 6% annually possibly coming under pressure if the world market does not accommodate this growth and as it comes under increasing pressure from global competition I. E. Philippines. 2. 3 Unemployment Fig. A. In Appendix A indicates the unemployment rates as a percentage of the economically active population in AS, IN and GE. IN has the smallest reported unemployment rate of the three countries with an average over the period 1995 to 2014 of Just under 4%. GE which also boasts a very low unemployment rate has an average of 8. 3% for the same period. AS has an alarmingly high unemployment rate with an average of Just over 24% over the same period. What is most disconcerting is in spite of the fact that AS has shown relatively consistent GAP growth the unemployment rate has continued to grow. The AS government (the NC) is part of a tripartite alliance with COATIS (trade union) and the ASAP (communist party). Until this alliance is broken it is unlikely AS will review labor regulations which would make it easier for business to employ more people. According to Eddie Rood, AS does not have an unemployment problem it has an employment problem. In other words it is too difficult for business to employ people and until regulations are focused more in favor of the employer than the employee the unemployment rate in AS is likely to consistently increase until 2020. In GE and IN there is likely to be very little change in the unemployment rate shown in the extrapolation which is a weighted moving average extrapolated through to 2020. 2. 4 Exchange Rates Fig. A. 4 in Appendix A indicates the average annual exchange rates for AS, IN and GE or the period 1995 to 2020. The primary vertical axis indicates IN Rupees exchange rate to the US dollar (USED) and the secondary vertical axis indicates Rand’s and German Marks to the USED. GE which is a developed upper-income country has the least volatile exchange rate and has yielded an average of 0. 3 German Marks and Euro from 2002 to the USED. The IN Rupee and the AS rand, although depicted on different scales, have followed very similar trends indicating the volatility and dependence of developing countries currency on external global economic factors. The AS Rand is under a lot of pressure at present with regular service delivery protests and wildcat strikes like the platinum belt strike and the current NASSAU metal workers strikes followed by the ASIATIC strike due to commence on Thursday 24 July 2014. Coupled to this poor GAP growth, corruption, lack of service delivery and lackluster leadership from the ruling party is promoting uncertainty and possibly long term negative sentiment. Extrapolation of the exchange rate data for all 3 countries was carried out based on the MIFF projections on GAP in national currency vided by GAP in dollars. This extrapolation was double checked against factors that might influence the exchange rate in the form of Inflation, Gold Price, supply and demand for USED and SARA monetary policy. In the case of AS the possibility that AS becomes less attractive to foreign investors and the inflow of USED reduces is highly likely. The net effect of fewer dollars inflow into AS can result in a weaker rand. The SARA has a very strict fiscal policy which pegs the targeted inflation rate in AS at 3 to 6%. Under the watchful eye of Gill Markus the SARA attempts to curb inflation by easing the Report Rate which is the rate at which the SARA lends money to other banks. By raising the Report rate the cost of credit is increased which in turn should reduce demand and with less money there should be less demand for goods forcing the price of goods to come down subsequently reducing Inflation. If inflation is lowered then the risk of AS goods becoming too expensive, (as a result of inflation increasing production costs), on the export market is reduced. AS is the world’s 5th largest Gold producer and gold production and exports account for a large percentage of the inflow of SAID. A change in the price of gold has a large effect on the inflow of dollars which can subsequently lead to a depreciation of the rand. Although the USED is one of the most sought after and used currencies in the world fluctuations in the USED with specific reference to the appreciation of the USED can mean the Rand will depreciate. IN is subject to the same forces as AS with respect to exchange rates and the sum of these forces account for the volatility of the two currencies. A weaker exchange rate promotes local manufacturing due the opportunities to gain higher margins on the international markets. The volatility of the developing countries currencies counteracts a large portion of potential growth, due to relative uncertainty and high risk. It would be better if the exchange rate was consistently weak or even if it was consistently strong it would allow for less risk in investments into capital. Extrapolating GE exchange rate to 2020 is easier as the variability is small and we do not expect to see much change in exchange rates from GE as shown on Fig. AAA in Appendix A. In the case of AS and IN extrapolated to 2020 we expect to see a rise in exchange rates and a tapering off towards 2020. Both IN and AS will remain exposed to world economic forces and inflows and outflows of portfolio foreign investment. 2. 5 Interest Rates Fig. A. In Appendix A indicates the Interest rates for AS, IN and GE for the period 1997 to 2020. Interest rate refers to a rate which is charged for the use of or loan of money. The interest rate which is depicted in Fig. A. 5 in Appendix A refers to the rate at which the reserve bank lends to other banks. The interest rate is one of a number of tools used by the reserve banks (central banks) to ti ghten or relax the monetary policy. The general trend for all three countries is a relaxing of their respective monetary policy in terms of interest rates as we see a big decline in interest rates for the period 1997 to 2014. The expectation with a lower interest rate is that credit is cheaper and money supply would grow quickly driving economic growth as the demand for goods and services increases and producers scramble to catch up with demand. Fig. A. L in Appendix A indicates that all three countries have been experiencing positive GAP growth barring the 2008/2009 world economic recession. The effect of pressure on supply of goods and services tends to drive the price up as odds and services become scarcer and consumers are willing to pay more this drives inflation up. The SARA has set targets of 3 to 6% on Inflation as it is a proportional measure of the effects of hiking or lowering interest rates. The 2008/2009 recession has caused a slower demand for credit and lower interest rates from all 3 countries especially GE with interest rates of well below 1% is an attempt by the Deutsche Bundestag to fuel the GE economy. In AS, the SARA has raised interest rates (tightened fiscal policy) in an attempt to curb inflation and keep it within the 3 to 6% targets. The data for the 3 countries is extrapolated to 2020 based on a moving average. In AS the Interest Rate trend from 2014 to 2020 is predicted upwards to as high as 9% in 2020 as AS inflation and exchange rates remain under pressure and the SARA attempts to control the inflation within its targets. In IN the interest rates are predicted to continue to reduce to 2020 to stimulate the IN economy to grow. The pressure on food sources in India could drive Inflation upwards causing an increase in the interest rates. Similarly in GE the interest rates are expected to remain low with a gradual rise from 2014 to 2020. Contrary to the economic recovery plan adopted in USA (economic stimulus plan), GE and its EX. partners have opted for a more conservative approach and austerity measures have caused a slowdown in private spending. In order to fuel the economy and provide cheap credit the interest rates are extremely low yet GAP growth remains slow. Until there is an upturn in the economy interest rates in GE are likely to remain very low from 2014 to 2020. 2. 6 Trade Balance and Current Account Balance Fig. A. 6. 1 in Appendix A indicates the trade balance in AS, IN and GE for the period 995 to 2020. The trade balance is calculated by subtracting total import payments from total export earnings including gold and non-gold products. AS and GE are shown in USED on the secondary vertical axis and IN is shown on the primary axis. Trade balances for all 3 countries follow similar trends to the current account balance. The platinum strikes which lasted 5 months will have a negative effect on the balance of trade and subsequently the current account balance. Fig. A. 6. 2 in Appendix A indicates the current account balance in AS, IN and GE for the period 1995 to 2020. The current account includes trade balance and service, income and transfer receipts less service, income and transfer payments. Fig. A. 6. 2 primary vertical axis indicates the IN and AS current account balance in USED. The secondary vertical axis indicates the GE current account balance in USED. We can see that up until 2001 GE was running a marginal current account deficit and how they have turned this deficit into a large current account surplus. Germany is a leading technology supplier and has developed strong trade relations with China and the rest of the world. On the back of the Chinese and world economic growth the Germans have been able to capitalist and show a growing current account surplus. IN and AS who were pretty much break even on current account balance up until 2004 have embarked on development strategies. As can be seen in Fig. A. 6. 2 in Appendix A, IN has been a lot more aggressive in borrowing money and growing the current account deficit than AS. AS is often accused by world investors for not borrowing enough to boost development and economic growth. Extrapolating the data on to 2020 1 have taken the MIFF projections to 2018 and extrapolated to 2020 using a moving average calculation. AS would be expected to grow the current account deficit as they spend more on infrastructure in an attempt to stimulate the economy. AS imports a large variety of goods and services and exports predominantly natural resources. It would be wise for AS to develop industry that can add value to the natural resources in order to add value and ultimately increase its export value whilst simultaneously decreasing the need to import. . 7 Money Supply and Credit Growth Money growth is shown on the primary vertical axis and credit growth as a percentage of GAP is shown on the secondary vertical axis for all three countries. The creation of money is largely dependent on bank deposits which when this money is leant out by the bank triggers the money creating process. The balance of payments and government finances are both major contributing factors to the cr eation of money. Gross savings, credit growth are also triggers for money growth as they contribute to the amount of bank deposits. Fig. A. 7. 1 in Appendix indicates MM annual money growth and credit growth as a percentage of GAP growth. Although there is considerable offset between the 3 countries the money growth trends year on year between all three countries are very similar. In the years preceding 2008 AS and IN showed consistent annual MM money growth of above 10%. In the global recession of 2008/2009 AS was hardest hit and dropped down to a money growth of just over 2% but has recovered to Just over 5% and is expected to be sluggish in money growth extrapolating to 2020. IN managed to remain less effected by the global recession and has retained annual money MM growth in excess of 10%. IN is expected to show more conservative money growth figures to 2020 as the world economy remains sluggish. GE has shown a reduced money MM growth and is even wowing negative money growth since 2009. The trend extrapolated to 2020 is expected to remain much the same. In AS credit growth as a percentage of GAP is extremely high at an average of over 185% of GAP since 2004. In comparison to GE (129%) and IN (67%) for the same period. The growth in credit does not result in bank deposits and subsequently an increase in credit growth has a negative impact on money growth. 2. 8 Budget Deficit and Government Debt Fig. A. 8 in Appendix A indicates the budget deficit and government debt as a percentage of GAP for AS, IN and GE for the period 1995 to 2020. The budget deficit for all three countries is shown on the primary vertical axis and the government debt for all 3 countries is shown on the secondary vertical axis. As a general rule of thumb the budget deficit should not exceed 3%. Since the late sass’s AS has managed to consistently achieve budget deficits lower than 3% and in 2006 even managed to achieve a budget surplus. Since 2007 the budget deficit for AS and IN has increased with the AS budget consistently above the illusive 3% value. Since the 2008 and 2009 recession the AS government has, in similar fashion to the USA government’s tumulus plan, understandably been spending more in an attempt to fuel the economy and stimulate much needed economic growth. Similar to AS IN has increased government debt and is slowly bringing their budget deficit down from deficit in excess of 10% to below 9% and trending downwards. GE has decreased its government debt as a percentage of GAP and has firm control of its budget deficit showing consistent budget surpluses since 2012. Extrapolating the budget deficits to 2020 we can expect GE to remain in a surplus situation with AS stabilizing and remaining at Just above 4% with a possibility of returning to below 3% budget deficit. IN is expected to perform well and reduce their budget deficit to below 7% consistently to 2020. In terms of Government debt, GE is expected to consistently reduce government debt in line with the conservative economic plan and in line with EX. guidelines. AS is expected to increase government debt up to 2020 as it needs to stimulate economic growth through government spending. IN will continue to reduce government debt to 2020 as indicated in Fig. A. 8 in Appendix A. 2. 9 Gross Fixed Capital Formation the AS public to start to save. The Gross savings for all three countries has been extrapolated based on a moving average. . 10 Human Development Index Fig. A. II in Appendix A indicates human development index (HID) for AS, IN and GE for the period 1995 to 2020. The HID is a measurement of life expectancy, educational attainment and income. The value expressed by HID is a value between O and 1 . The human development index is a measure of equality within a country and a value of 1 would mean perfect equality and O would mean perfect inequality. As expected GE the developed country has the highest HID rating with an average of over 0. 9 since 2005. AS comes in second place with an average of 6. 19% from 2005 to 2014. AS has nee of the world’s most progressive constitutions and is based on the belief that AS belongs to all who live in it. AS is not without its equality challenges and unemployment, declining education system (WEFT global competitiveness report rates AS education as 46th out of 148 countries), high crime rates (rape in AS is the highest in the world), and widening gap between rich and poor. IN score worst on the HID as a result of a large population many of whom live in abject poverty. It is however nice to see that things in IN are changing and they have come a long way since 1995 when they scored only 0. HID and in 2014 they scored 0. 56 Just less than AS. Extrapolating GE HID to 2020 we SE no reason for any change and expect to see consistent value Just above 0. 9 for the whole period 2014 to 2020. Extrapolating AS HID to 2020 we expect the effects of a less competitive education system coupled with increasing unemployment, growing crime rate and widening of the gap between rich and poor to stagnate any improvements and predict a possible decrease in the HID for AS over the period 2014 to 2020. Inequality in IN is still a problem and we predict moderate improvement in HID but until there is a fundamental change especially in How to cite The current Economic Situation in SA, India and Germany, Papers

Case Study of Rana Plaza - Get Complete Solution

Question: In April 2013, the Rana Plaza garment factory collapsed upon its workforce, killing approximately 1,200 workers and injuring about another 2,000. The incident served to highlight the plight of low-paid Bangladeshi workers forced to work in dangerous conditions for the profit of big multinationals and shoppers in first world countries who want $2 shirts.You are to investigate what happened at Rana Plaza and identify the ethical issues involved. Explain whether these issues are particularly difficult or unique to multinational companies (MNCs).Continuing with the Rana Plaza case, investigate what has happened since for the people of Bangladesh, and whether the MNCs associated with Rana have done more to recognise and act upon their ethical obligations.You should also look at how social media has placed pressure upon these MNCs through activism and stakeholder pressure. Does social media continue to play a positive role for the workers of Bangladesh, or is it only interested in a quick "Twitter moment"? Answer: Executive Summary This particular assignment entitled Corporate Governance and Ethics is written in the form of report. It primarily emphasizes on the issues related to corporate governance and ethics and the extent to which it is necessary to maintain corporate governance. Special attention is laid on the collapse of Rana Plaza that has occurred in Dhaka in 2013. This report is segmented into two parts, thereby introducing the case and the investigation details along with the ethical issues involved and their complexities and/or uniqueness in the first part. Moving on, the second part concentrates on repercussions of the incident on the population of Bangladesh as well as the attempts that the MNCs in Bangladesh make. Influence of social media on the concerned MNCs in order to make sure corporate governance is also taken care of This report explores through the different aspects of corporate governance and ethics in the present business scenario to stand upright in the domestic as well as the global market. The thesis statement for this report is to find out the effectiveness of corporate governance ethics and the extent to which it is maintained to which it is maintained in the business organisations. A special reference is made to the incident that has occurred at Rana Plaza in order to understand the level to which corporate governance and ethics are followed in Bangladesh. Rana Plaza Incident This part of the report focuses on the producing a brief summary on the incident that has occurred at Rana Plaza along with investigating the case minutely. In fact, an in-depth study of each of the ethical issues involved is done along with critically examining and understanding whether the ethical issues are specifically difficult or unique in context to the MNCs. Brief Summary of Rana Plaza Case In the year 2013, the collapse of the garment factory of Rana Plaza in the suburbs of Dhaka takes place upon its workforce, thereby bringing a huge disaster on the employees present at the workplace at that time (The Economist, 2013). In accordance to reports, more than 1,200 staff members are found to lose their lives whereas about 2000 have been extreme injuries. It is found that there is a huge part of the Bangladeshi population who is engaged as workers in the MNC companies established in Bangladesh. Reports suggest that there is an occurrence of the collapse of Rana Plaza because of the illegal construction of two consecutive additional floors. It is found out that Rana Plaza has already been in news due to its substandard quality of construction (the Guardian, 2014). Investigation of the Case This particular disastrous incident opens a clear picture in front of the entire globe regarding the threatening conditions under which the Bangladeshi workers tend to operate. Thousands of Bangladeshi people are found to work in the MNCs in order to improve their economic conditions. On the contrary, most of the first world countries tend to establish at least one of their operating stations in Bangladesh because of the cheap labour force available there (Yardley, 2015). They do take advantage of the availability of human resources at cheap rates, thereby outsourcing their manufacturing processes. However, it is to be noted that there is an inadequate working environment at Rana Plaza, where neither the health standards nor the working ambience of the workplace is taken care of. The infrastructure of the entire building as the investigations point out is undoubtedly in a bad condition, thereby threatening the lives of the workers. It is found that the Western apparel organisation te nd to make low investments in regards to the payments for the workers irrespective of the fact that they tend to make high profits. Moreover, the giant organisations like Primark, Just Jeans, Dotti and Smiggle, and Jacqui E do not even take proper initiatives to improper the workplace ambience as well as the infrastructure of the workplace building for convenient working and safety of the workers (the Guardian, 2014). Ethical Issues Involved As this particular incident highlights, there is the involvement of a number of issues behind the collapse of Rana Plaza. One of the most important unethical issues behind the collapse is the substandard infrastructure of the entire building. It is found that the usage of raw materials in the construction of Rana Plaza has not been of good quality, which can certainly be one of the reasons behind its collapse (Column.global-labour-university.org, 2015). Thus, here lies the irresponsibility of the construction company as well as the construction department of the Bangladesh Government in sanctioning the application of such low quality materials along with low skilled labourers. Moreover, reports point out that, the construction of the two additional floors of the building is found to take place, irrespective of the fact the building does not have the potential to bear it (Arun and Turner, 2009). Moreover, another ethical issue in context to the occurrence of the case is the unsafe working conditions the organisations offer to the working staff. As Alam (2009) points out in the work, the Bangladeshi workers need to function for strenuous and lengthy working hours for almost every day in a week. It is to be noted that even though the Western countries offer such unfair working timings yet the Bangladeshi population continue to work for them because of the problematic economic condition that they are subject into. They do not want to lose on the minimum amount of wages that they earn. Researchers like Tsamenyi and Uddin (2008) indicate that the Western nations tend to take advantage of the low cost of living and poor economic standards in Bangladesh, thereby outsourcing their manufacturing functions at cheaper rates and earning high profits themselves. Although most of the workers tend to blame the suppliers for the inadequate payments that they receive, it is important to stat e that the firms to pay limited amount of money to the suppliers, which in turn becomes a meagre amount, when it reaches to the employees, after the suppliers take their share (Arrigo, 2006). Recent investigation done by Ahmed and Nicholls (2011) reveal that even though most of the Western nations do take an active part in raising their voice against child labour or child abuse, most of their outsourced work is done by children in the developing countries like Bangladesh who are less than 14 years of age. There are also quite a many children who used to work as labourers in Rana Plaza. In most of the situations, the contractors are found to make sure that the work is done appropriately by abusing on the employees, irrespective of the fact that the workforce includes men and women, adults and children. It is to be noted that even though there are adequate amount of employability regulations, thereby focussing on the working conditions as well as children rights, hardly any initiative is taken in order to make sure that the implementation of the laws and regulations is done suitably (Rahman and Moazzem, 2011). Neither the governmental administrative departments nor do the r espective business organisations show much interest in maintenance of corporate governance and ethics. Harassments of women on verbal and physical basis have also come up in the Bangladesh business scenario, where the contractors or the suppliers do take advantage of the fragile economic conditions of the population (Tsamenyi and Uddin, 2008). In fact, the workers at Rana Plaza also face ethical issue of operating in an improper sanitation environment without necessary facilities. It is realized in accordance to the illustrations of Haque et al. (2011) that the workers are hardly provided with sufficient time to eat their meals or visit the washrooms. Moreover, the employees do not even receive any form of medical assistance during times of need; rather a portion of their salaries tend to get deducted when unable to work due to illness. Complexities and/or Uniqueness of the ethical issues It is to be noted that the ethical issues as mentioned in the above section needs to be taken care and attempts need to be made not to continue working, thereby depending on the unethical standards. It is to be noted that such ethical issues are unique in terms of the functions of MNCs since at a point of time they do tend to believe that the human resources of the other nation can be exploited largely. In fact, underdeveloped nations like Bangladesh, with fragile economic standards do often fall prey to the small monetary offers that the MNCs provide (Singh and Newberry, 2008). Repercussions of Rana Plaza Incident on Bangladeshi people Rana Plaza incident occurring in Dhaka has not only stunned the people of entire Bangladesh but also the entire globe. In fact, the organisations operating in Bangladesh has realized the importance of maintaining corporate governance and ethics while running a business and involving human resources for the various operational functions (Rahman and Moazzem, 2011). The incident of collapse has undoubtedly made the people of Bangladesh much more conscious regarding the danger that they can subject to in case the organisation that they are working in, do not follow regulations based on ethics and corporate governance. Thus, they too have started becoming aware of the fact as to whether the firms they are going into do maintain ethical regulations and terms of corporate governance. Along with the employees, the management of the organisations too have become much more conscious regarding the maintenance of safety and security for the workers operating within the firms (Sobhani et al. 2009 ). Moreover, it is to be noted that the government of Bangladesh delivers an increase of 77% in relation to the salaries of the garment workers, thereby amounting it to about $69. The Bangladeshi Government finally realizes that the population is actually a part of a disastrous economic position and this needs a financial hike (the Guardian, 2014). In fact, the market has also become much more conscious, thereby making sure that the employees need to be taken care in order to develop a good brand image as well as brand name, in order to acquire a wide customer base. Attempts taken by MNCs in Bangladesh Since the MNCs in Bangladesh realise the necessity to maintain ethical governance along with ethics, therefore they are found to lay emphasis on the Accord on Fire and Building Safety. In fact, it is due to the incident at Rana Plaza that about 150 global brands are found to sign the Accord on Fire and Building Safety for operating in Bangladesh. This particular accord undoubtedly provides suitable scope for the staff members to adjourn working in case they find that their working conditions are not appropriate enough or are under threat. As Sobhani et al. (2009) point out; the Accord on Fire and Building Safety concentrates on providing opportunities to the workers to form local as well global unions, examining the building and the fire-based safety paradigms independently. Nonetheless, it even equips the workers with the right to stop operating if they do not have suitable working conditions. On the other hand, Walmart, the famous US retail giant is found to create and sign the non -binding Alliance on Bangladesh Safety with The Just Group. Researches done by Arun and Turner (2009) put forward that even though non-binding Alliance on Bangladesh Safety adheres to the safety and security of the workers in terms of their working conditions, nonetheless it does provides the advantage to the employees in forming associations or unions whether at local or international level. Apart from signing contracts or adhering to the safety policies, the MNCs even decides to create a fund in order to provide compensation to the injured victims or the families of the employees, who are dead. In fact, the fund has made sure to already make the first lot payments. On an average the family of a deceased worker is found to obtain about $650, which amounts to around 50,000 as per the Bangladeshi currency (Column.global-labour-university.org, 2015). It is to be noted that since Primark (the popular British fashionable clothing retailer) has also been one of those companies, who used to outsource their manufacturing operations in one of the five factories of Rana Plaza, therefore, it decides to contribute more than $630 to each of the 580 individuals, who are found to be the survivors or the relatives of the deceased employees (ABC News, 2014). However, recent investigations done by Haque et al. (2011) reveal that IndustriALL, the global labour group stands out to be highly disappointed on the global retailers, because they are found not to contribute sufficiently to the fund for helping the victims of te incident. In fact, reports suggest that, even though retailers demand that they assured to pay a total of $16 million to the concerned proposed $45 million ILO handled trust fund, yet Mikail Shipar, the Bangladesh labour secretary estimates that a maxim of $ 40,000-45,000 will raise as compensation for the victims of the Rana Plaza collapse, which actually amounts to only three million taka (the Guardian, 2014). Nonetheless, studies also put forward that certain organisations, such as Jay Jays, Just jeans, Portmans, Jacqui E, Dotti and Smiggle, and Peter Alexander, which function under The Just Groups and Best and Less yet did not find it necessary to sign the international agreement or accord (Column.global-labour-univers ity.org, 2015). In addition to it, the Bangladesh Government also takes initiatives in allowing certain membership firms to operate in favour of garment workers. Bangladesh Centre for Workers Solidarity (BCWS) stands out as an appropriate example of such an organisation, thereby promoting a necessity for congenial working ambience in the workplace in order to enhance the rate of productivity, which also contributes in developing the national economy (Young et al. 2008). Influence of social media on MNCs for corporate governance It is important to mention that after the incident that Rana Plaza, not only the workers but also the organisations have become more conscious relating to the working conditions and the safety of the employees. Nonetheless, even the social media plays a significant role in reaching out the unaware population and letting know about the extent to which suitable working conditions is necessary and the fact that organisations are bound to follow ethical considerations and corporate governance policies (Arun and Turner, 2009). In fact social media does take initiative in recent times in order to make sure that by the upcoming ten years, there are not going to be any such organisations or suppliers in Bangladesh who can practice unethical business procedures, especially at the stake of the employees lives and safety. It also takes initiatives in making the respective shareholders realize that apart from possessing the corollary advantages of share ownership, they also do possess the respon sibility of taking care of the substance of the firms management (Rahman and Moazzem, 2011). Social media made sure to keep the news at heights in order to bring it into the eyes of each of the social service users so that people can understand the monstrous effect of the carelessness in the maintenance of business ethics and corporate governance principles. Modern researchers like Sobhani et al. (2009) put out that with the development of technology, there is also the emergence of the social media, based on which a wide part of a population can be reached, thereby passing on any message or putting forward an issue. In fact, social media in comparison to print media or other digital media tools prove its efficiency in addressing people in a cost effective and time efficient manner. It is found that the news has spread like forest fire not only with the news channels on television or on radio but also via the social networking sites, such as Facebook and Twitter (Young et al. 2008). Online discussions are found to take place over this incident, thereby focussing on the signif icance of corporate governance and ethics and even on the fact that how do the giant and successful retail companies of the first world nations commit the recklessness or carelessness of not complying to the principles of corporate governance. In addition to it, social media plays an active role spreading the news across the globe because people tend to put up the experiences online so that different people can get to know about it. In fact, just like word of mouth recommendations, updates put up on social media is considered by many people, especially potential customers to develop ideas about the company (Arun and Turner, 2009). Thus, it is with the help of the online reviews that they realize that the company may not be the right choice with which they can function. Social media undoubtedly can raise a raise along with asking the other stakeholders to provide pressure on the company to comply with the corporate governance regulations. Undoubtedly, since customers stand out as another important stakeholder of the respective organisations therefore it is also necessary to stress on the customers viewpoints, who do not want to conduct any form of business with a firm that carries on unethical business procedures (Francis, 2014). Nonetheless, even the Bangladesh government, which initially did not take many initiatives, has now considered it to be an important aspect to concentrate on the ethical aspects and corporate governance. It is to be noted that In this era of technological advancements, there is an introduction of Smartphone, which helps in connecting with people across the globe. Moreover, in order to meet the expectations of people belonging to different economic segments, most of the organisations have come up with Smartphone at affordable price range, thereby earning a competitive advantage in the market. Hence, most people even belonging to the working class do use Smartphone, thereby having access to the social media (Zattoni and Cuomo, 2008). The low income employees are using social media to inform the rest of the world about the threatening working conditions that they are subject to with the help of the Smartphone. Social media do equip them with the power to tweet and post their professional experiences at workplaces on the social paradigm. Thus, it is evident enough that social media plays an active role certainly in making a free-flow of information across the industry. In fact, social media helps in making peo ple aware of the different factories in which the clothes of different giant organisations are being manufactured along with the GPS co-ordinates in relation to the factories (Young et al. 2008). Thus, it can be stated clearly that the social media has not at all been passive in nature. In fact, it is the usage of social media tools and activities, which concentrate on more people, have become aware of the incident at Rana Plaza. Conclusion On the completion of the report, it can be concluded that the incident of the collapse of Rana Plaza in Bangladesh has undoubtedly emerged a huge alarming situation not in Bangladesh but also across the globe. Social media undoubtedly takes initiatives in spreading the news as well as raising public responses against such irresponsible acts. However, the fact that activists and garments do mark the anniversary of Rana Plaza incident by carrying a mock coffin substantiates the fact that there is a long way to go before the workers can get justice as well as financial compensation. The question as to how long do the Rana Plaza workers need to wait for attaining justice still remains unanswered. References Books: Arun, T. and Turner, J. (2009), corporate governance and development, 1st ed. 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Research In International Business And Finance, 25(2), 169-182. doi:10.1016/j.ribaf.2011.01.001 Haque, F., Arun, T. and Kirkpatrick, C. (2011), Corporate governance and capital structure in developing countries: a case study of Bangladesh, Applied Economics, 43(6), pp.673--681 Rahman, M. and Moazzem, K. (2011), Capital market of Bangladesh: Volatility in the Dhaka Stock Exchange (DSE) and role of Regulators, International Journal of Business and Management, 6(7), p.86 Singh, S and Newberry, S. (2008) Corporate governance and International Financial Reporting Standards (IFRS): The case of developing countries. Research in Accounting in Emerging Economies, 8: 483-518 Sobhani, F.A., Amran, A. and Zainuddin, Y. (2009) Revisiting the practices of corporate social and environmental disclosure in Bangladesh. Corporate Social Responsibility and Environmental Management, 16: 167-183. Young, M.N., Peng, M.W., Ahlstrom, D., et al. 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