Friday, May 8, 2020

How Enrons Demise Was Led By The Greed And Greed Of...

Enron’s demise was led by the arrogance and greed of senior executives. The belief was they had to be the best business leaders in the United States. Many also believe that there was a conflict of interest with the auditing firm because not only did they serve as the auditing firm, they also served as a consulting firm to Enron. This enabled them to fabricate financial statements by building assets and hiding debt from investors. The loss of the recorded $1.2 billion shareholders equity meant that many victims of this fraud lost their jobs and their retirement funds. STRATEGY 1: UNDERSTAND THE CULTURE AND DYNAMICS OF CONFLICT The company Enron was formed in 1985 after two natural gas companies, Houston Natural Gas and InterNorth merged together. Kenneth Lay, former chief executive officer of Houston Natural Gas was named CEO of Enron and a year later, Lay was assigned to the chairman of Enron. A few years later, Enron launched a website to allow customers to buy stock for Enron, making it the largest business site in the world. The growth of Enron was rapid; it was even named seventh largest company on the Fortune 500 list; however things began to fall apart in 2001. (News, 2006). In the third quarter of that same year, Enron posted an enormous loss of over $600 million in four years. This is one of the reasons why one of the top executive resigned even though he had only after six months on the job. The stock prices of Enron fell dramatically.Show MoreRelatedEnron Corporation : The Biggest Gas Transmission System Essay1081 Words   |  5 Pagesstarted in 1985 by Kenneth Lay and was the result of a merger between Houston Natural Gas and InterNorth Corporation (Madsen Vance, 2009). Enron had the biggest gas transmission system in the U.S which consisted of a network of 38,000 miles of pipeline (Giroux, 2008). After the addition of Jeffrey Skilling, Enron transformed itself from a producer and distributor of natural gas to a trading company (Chandra, 2003). Enron lobbied hard for deregulation and was capable of being able to trade almostRead MoreThe Reprehensible Story Of The Enron Corporation1680 Words   |  7 Pagesthe attention of the public for more than a decade. Not only was this scandal highlighted largely due to the widespread publication of the Enron Corp’s actions in the newspapers and television but must notably their substantial contradictory actions against not only basic ethics but Enron’s published Code of Ethics. Outlining the reputation of Enron, Kenneth Lay, Chairman and Chief Executive Officer (CEO), in a foreword within Enron’s Code of Ethics stated, â€Å"to be proud of Enron and know that itRead MoreThe Culture And Dynamics Of Conflict2083 Words   |  9 PagesDYNAMICS OF CONFLICT The company Enron was formed in 1985 after two natural gas companies, Houston Natural Gas and InterNorth merged together. Kenneth Lay, former chief executive officer of Houston Natural Gas was named CEO of Enron and a year later, Lay was assigned to the chairman of Enron. A few years later, Enron launched a website to allow customers to buy stock for Enron, making it the largest business site in the world. The growth of Enron was rapid; it was even named seventh largest companyRead MoreIndividual Reflection Paper: Worst Team in History: Enron1961 Words   |  8 Pagesfocus on the internal operations, the contributions of the team members and how well they all work together. A successful team, from managements’ point of view, is the impact of the team on the organization; their focus is on the end result not the way the team interacts with one another. (Levi, 2007) This paper will discuss the Enron Scandal. The major players of the Enron Corporation made a successful team that through greed and arrogance bankrupted the entire company, making them one of the worstRead MoreEnron Case Study2596 Words   |  11 Pagesprice and market risk† (Ackman). Along with selling oil and gas, Enron was an inventive market maker for the sale of gas related products. With market making activities and trading, Enron’s growth went from a simple regional supplier of energy to a global financial power. â€Å"In some ways, Enron functioned like a stock specialist on the floor of the New York Stock Exchange (NYSE). It acted as both a dealer, trading for Enron’s accounts, and a broker, trading for others who made orders to buy or sell†Read MoreEnron Case2186 Words   |  9 PagesPart B: What role did the CFO play in creating the problems that led to Enron’s financial problems? In order to prevent the losses from appearing on its financial statements, Enron used questionable accounting practices. To misrepresent its true financial condition, Andrew Fastow, the Enron’s CFO, takes his role involving unconsolidated partnerships and â€Å"special purpose entities†, which would later become known as the LJM partnership. Taking advantage from the SPEs’s main purpose, which providedRead MoreThe Rise of Enron Essay examples1632 Words   |  7 Pagesscandal was considered to be one of the most notorious and compelling business ethics cases in modern generations. It’s was a textbook version of what can go wrong in an organization that lacks a true culture of ethical standards. Investors and the media once considered Enron to be the company of the future, but as its demise suggests, it was in reality not a particularly modern business organiz ation, especially in its approach to ethics. The corporate actions that led to Enrons demise were notRead MoreEnron Case Study Essay2248 Words   |  9 Pagesincluding concealing debts so they didnt show up in the companys accounts. As the depth of the deception unfolded, investors and creditors retreated, forcing the firm into Chapter 11 bankruptcy in December. More than six months after a criminal inquiry was announced, the guilty parties have still not been brought to justice. Leaders Leadership is critical to the creation and maintenance of culture; there is a constant interplay between culture and leadership. Leaders create the mechanismsRead MoreEnron Case7190 Words   |  29 PagesMatt Rollings ENRON Page 1 of 27 Table of Contents Executive Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..3 (I) Introduction to the Enron case and the organizations involved†¦Ã¢â‚¬ ¦. 5 Background information industry†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5 Organizations and officers involved†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..6 Accounting firm and partners involved†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.8 Enron’s industry†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 9 Enron’s injured parties†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 10 (II) Enron’s accounting fraud and misrepresentation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 11 ExplanationRead MoreLeadership Related Title. By Julien P Lewis. Embry-Riddle1487 Words   |  6 Pagesin comparison to a corrupt one. The CEO and founder of the e-commerce giant Amazon.com, Jeff Bezos, compared to the infamous former CEO of Enron, Ken Lay, is a perfect example. Prior to comparing two modern age leaders to determine which was great and which was corrupt, it is necessary to determine what defines a company’s leader as great. While a substantial profit margin is a good way to measure success, it is not the key to succeeding long term. To succeed long term in a company that focuses

Wednesday, May 6, 2020

Reading Comic May Help Students Do Better in School Free Essays

Comics as Learning Opportunities Comic books have come a long way since their inception more than 75 years ago. Particularly in the past decade or so, comics have become increasingly recognized for their potential literary value. Offering a combination of reading and visual stimulation that research shows many pre-teen and teen-aged boys prefer, comic books can, according to some studies, help improve literacy. We will write a custom essay sample on Reading Comic May Help Students Do Better in School or any similar topic only for you Order Now And this learning potential has not gone unnoticed. Take the non-profit Kids Love Comics, whose main mission is to raise awareness of comic books as educational vehicles. Consisting of comic book creators and publishers along with educators and even fans, the organization, through tours and participation at comic book conventions, seeks to make comics more accessible and available to children. Encouraging Creativity Children can develop writing and reading skills when they are given the chance to create their own comics through New York City’s Comic Book Project. Established in 2001 and hosted by the Center for Educational Pathways, the program emphasizes learning by having children express themselves through drawing and writing comic books. And Reading With Pictures, a nonprofit organization founded by graphic novelist Josh Elder in 2009, strives to provide comics for educational use by raising awareness in schools around the country. Its goal is to ‘get comics into schools and schools into comics. ‘ The organization conducts research, consults with schools, works with cartoonists on scholastic comics and assists universities in designing courses focusing on the study of comics. Equating Enjoyment with Reading Well-known comic book writer and editor Stan Lee, who created, among others, Spider-Man, the Incredible Hulk and the X-Men, founded the Stan Lee Foundation in 2010. The nonprofit organization is dedicated to providing literary resources and fighting illiteracy. To that end, in May 2011 it joined forces with Team Prime Time, a Los Angeles-based foundation offering programs for low-income and developmentally-disabled children. When asked if he was surprised that comics and education could be combined, Lee answered that as far back as the 1960s he had begun receiving letters from teachers heralding the positive effects of comics on their students. These teachers indicated that they saw improvement in grammar and composition in children who read comic books. Studies show that comics can help young and beginning readers better understand narrative concepts, story structure and character development. At an event at Dodger Stadium hosted by the Stan Lee Foundation and Team Prime Time, graphic novels were given out to any child in attendance. ‘Comics really are a good aid to getting kids to read more literature, increasing their vocabulary and making them want to read,’ Lee told IGN Entertainment. He added, ‘If you’re a kid†¦ you begin to equate enjoyment with reading. ‘ How to cite Reading Comic May Help Students Do Better in School, Essay examples

Tuesday, April 28, 2020

The music is lulling Essay Example For Students

The music is lulling Essay The Eve of St. Agnes has been criticised as building tension but not really fulfilling its potential. How far do you agree with this view point? The Eve of St. Agnes is an epic, romantic ballad which tells the story of conflict between the families of two lovers; Madeline and Porphyro. The Eve of St. Agnes was based upon a superstition whereby if a virgin girl fulfilled the rites on the eve, she would dream of her future husband that night. For me to look fully into this view point it is important to establish the meaning of the word tension. We will write a custom essay on The music is lulling specifically for you for only $16.38 $13.9/page Order now I would describe it as a mental strain provoking feelings of anxiety, apprehension and suspense. As I study this poem in context of the view point I will keep making references to these emotions where relevant and discuss how these sections create tension. The poem begins with descriptions of a chilling, harsh environment. The owl, for all his feathers, was a cold; the hare limped trembling through the frozen grass. In the second stanza it reinforces the idea of frailty with a description of the Beadsman as being meagre, barefoot, wan and how already had his deathbell rung. This is a stark contrast to stanza IV which has vibrant references to the sheer grandeur and wealth of Madelines home: glowing to receive a thousand guests: the carved angels, ever eager-eyed, stared. It also creates a sense of inviting warmth from the Beadsman hearing the prelude soft; for many a door was wide. Its almost as if the music is lulling him. Tension is created through the use of the contrasting of stanzas I-III against IV-VI: Keats sets the cold, callous environment outside against the warmth within. This can be seen in more detail in stanza IV where the Beadsman can hear the lute and the snarling trumpets' welcome the guests. Stanza V introduces us to the idea that Madeline has been thinking about the night to come all day long one lady there, whose heart had brooded, all that wintry day, on love, and winged St Agnes This feeling of pre-occupation is emphasised in stanza VII The music, yearning like a God in pain, she scarcely heard. Madeline is not really paying attention to the party or the many suitors who keep approaching her. These descriptions immediately form a sense of anticipation and apprehension; she is completely immersed in her thoughts of the night ahead. Keats then approaches Madelines nervousness at the prospect of her dream She danced along with vague, regardless eyes, anxious lips, her breathing quick and short. Suspense is the most appropriate way to describe the atmosphere that is building; tension is shown through the tenseness of her breathing, and anxious lips suggest that her mouth is dry through anxiety. The feeling of suspense is carried through when the narrator changes his focus to Porphyro in stanza IX. We are told how he has heart on fire for Madeline presenting his immense passion for her; he even begs all the heavens to let him see her. Yet this sense passion is soon tainted from the impending danger we are told about in stanza X. He ventures in begins the stanza and has negative connotations; he is entering an almost forbidden place. This danger is reinforced by the line a hundred swords will storm his heart. Just how dangerous a position is Porphyro in? The last line in stanza XI partly answers this question; the old woman warns him that the whole blood-thirsty race are there (meaning the guests).

Thursday, March 19, 2020

Issues Concerning Domestic Violence Essays

Issues Concerning Domestic Violence Essays Issues Concerning Domestic Violence Paper Issues Concerning Domestic Violence Paper and it includes the abuse suffered from a history of genocide or persecution. Economic abuse this occurs where the man has total control over all financial resources. For example, he may forbid the woman to work or if she does he may insist that she hands over her pay check to him unopened. She may have to beg for money to buy necessities and when it is given it may often be insufficient. She is then criticized for being stupid or incompetent in failing to provide adequately with this sum. Social abuse includes delivering verbal abuse in front of other people, such as put-down, jokes, criticisms about the womans weight, appearance, sexuality, intelligence ect. Controlling behaviors such as following her to work, controlling access to friends, constant phone calls at work or accusations of imagined affairs ect. Isolating a woman by denigrating her friends and family, thus leading her to cut herself off because she fears enraging her husband, locking the women in or out of the house, cutting off the telephone, never letting her use the car ect. Social abuse is the constant monitoring and control of a womens activities, outings, and friendships. She may be forced to account herself for her every movement, and my be denied the right to leave the home and see her friends. The result for the abused woman can be public humiliation and isolation from friends and other members of her family. For centuries, the abuse of wives by their husbands has been tolerated by most societies. In some cultures, it was considered to be a part of married life, a method of acceptable control. Since men were paid through dowries to take care of wives, the notion was that wives were considered property in much the same way that children were viewed. Consequently, authorities often believe that it is inappropriate to interfere in the relationship between a man and his wife or children. â€Å"There seems to be an implicit, taken-for-granted cultural norm which makes it legitimate for family members to hit each other. In respect to husbands and wives, in effect, this means that the marriage license is also a hitting license†. Actually, there is no equality with regard to husbands and wives hitting one another. Additionally, Congress and state legislatures have passed laws that have aided in the protection of victims of domestic violence and the prosecution of offenders. For example,the Child Abuse Prevention and Treatment Act was passed by Congress in 1974 to help states and communities organize programs for parents who abuse their children. Also in 1974, the National Institute of Mental Health established a national center in Denver to study the problem more thoroughly and set up a national commission to resolve the complicated legal problems and recommend changes in federal and state laws involving child abuse. Grant programs have also been funded to identify the causes of child abuse and provide treatment through self-help programs and lay therapy. Increasingly, states are requiring social workers and psychologists to report all cases of known or suspected child abuse to child protection authorities in their communities. The Cycle of Domestic Violence shows how domestic violence often becomes a pattern comprised of three stages. The phases vary in time and in severity between couples, and even at different times within the same relationship. It is, then, difficult to predict how long a couple will remain in one phase or to determine the length of an individual couple’s cycle. Phase 1 is the Tension-Building Phase, which constitutes criticism, yelling, swearing, and using angry gestures, coercion, and/or threats. Phase 2 is the Violence Phase, which is characterized by physical and sexual attacks and threats. Phase 3 is the Seduction Phase that is portrayed with apologies, blaming, promises to change, and gifts. It also explains how three dynamics - (1) love, (2) hope, and (3) fear keep the cycle in motion and make it difficult to end a violent relationship. For the sake of illustration, (1) Love for one’s partner: ‘the relationship has it’s good points, it’s not all bad†. (2) Hope that it will change: ‘the relationship didn’t begin like this’. (3) Fear that the threats to kill you or your family will become a reality. The Cycle Of Violence PHASE 1: TENSION BUILDING Poor communication / series of minor incidents / decreased control Compliant / good behavior/ experiences/ increased tension/ minimizes problems/ increases threats/ denies anger/ takes more control/ withdraws/ controls more/ tension intolerable PHASE 2: ACUTE BATTERING Increased stress and injury/ loss of control Unpredictable, claims loss of control / is helpless, feels trapped / highly abusive/ traumatized PHASE 3: KINDNESS AND LOVING BEHAVIOR Tension drops / Renewed love / Increased Tension Often apologetic, attentive / mixed feelings / is manipulative / feels guilty and responsible / promises changes / considers reconciliation After the abuser has gone through all of the phases, it starts over again with phase one and continues until the victim either gets help or is killed. So, why, why would a person who is loved, want to abuse their spouse or girlfriend? One of the key responses . . . Jealousy. The husband may become very suspicious, afraid of losing his wife. The abuser sees his wife or girlfriend as a possession. The only way, they think, to relieve this built up anger is aggression. To improve their self-esteem, they abuse the victim physically, emotionally, and sometimes, sexually. Another key factor in wife abuse is alcohol. When the man is stressed, he turns to alcohol to relieve it. Little does he know, that the alcohol makes him more irritable. Research shows that men who abuse their wives, often saw their own mother abused. Do to witnessing this, the children of battered families usually grow up to have low self-esteem and believe that hitting is right. Women who are in abusive relationships find it very difficult to leave. Not only are they afraid for their own lives, but sometimes, if children are involved, the offender threatens the lives of the children. One woman told a psychologist, He promises anything you want to hear. He promises that he will do anything, lots of tears, and Oh, Im so sorry, and I love these children, I would never do it again. You want to believe that its just a mistake, but its not a mistake,. Many women are threatened by their husband or boyfriend that if they try to leave theyll be hurt worse than ever before or even killed. 68% fear that their lives will be taken by the abuser, 71% of abused women believe that they are still in love with their husband or boyfriend, and 66% believe that they need a man to have a successful and happy life. After repeated abuse many of the abusers try to convince the victims that theyll change and that it will never happen again. Researchers stress the point, Once an Abuser always an Abuser,. Statistics regarding spouse abuse in the United States frequently cited are estimates at best. Many wives are fearful of retaliation by their husbands and are, therefore, reluctant to report the abuse. Some fail to report it because they are ashamed or feel that it is no one’s business. Unfortunately, many times only when the abuse is so severe that the woman requires medical intervention are reports made to law enforcement agencies. In any case, the Justice Department estimates that more than two million women each year are abused by their husbands in domestic violence incidents. Almost four thousand women are brutally beaten to death by their husbands each year. One-fourth of all female suicides are committed by women who have a history of being beaten by significant men in their lives. Many women do not leave the homes in which they are being abused for an assortment of reasons. The homes involved in domestic violence are complicated, with dysfunctional relationships and unhealthy dynamics. The abusive partner tends to display more than physical violence. He also inflicts emotional abuse that often shatters the self-esteem and independent thinking of the victim In other words, there is â€Å"a complicated and cumulative cycle of tension, belittlement, violence, remorse, and reconciliation that can lead to a paralysis of will and extinction of self-respect†. Child Abuse So, if youre in an abusive relationship what is the best way to get out and stop the battering? After notorious acts of abuse, usually, the woman will finally realize that the situation will never get better. Basically there are three basic reasons why women leave a violent relationship: 1. Knowledge that help is available. 2. Impact on the children. Living in a violent home where the batterer abuses the children physically, mentally, or sexually may give the woman the courage to leave. 3. Reaching the limit of violence she will tolerate (Berger, 1990, pg. 48). First, Knowledge that help is available, there are many groups and organizations helping people deal with domestic violence and child abuse. For example, the National Resource Center on Domestic Violence, offers information on domestic violence. You can reach them at 1-800-537-2238. If your town or city doesnt have any organization for the victims of domestic violence, you should definitely look into starting some kind of way to help these people. The main thing is not to suffer in silenceto reach out for help. Domestic violence is a serious dilemma in today’s society. The only answer toward preventing domestic violence should start when we raise our children. Violence is a learned behavior. When children get hit, they learn something in that process. They ascertain that when frustrated or angry, it is OK to take out that frustration and anger on someone else. They learn that violence is OK. Violence then becomes a learned behavior. The only way to promote a non-violent society is to teach children non-violent habits. TEEN DATING VIOLENCE FACTS MYTHS Myth: It cant happen to me Fact: More than 1 in 10 teenagers experience physical violence in their relationships Myth: Jealousy and possessiveness are a sign of true love Fact: Jealousy and possessiveness are a sign that the person sees you as a possession. It is the most common early warning sign of abuse. Myth: Teen dating violence isnt really that serious. Fact: Thirty percent of all women who are murdered in this country are killed by their husband or boyfriend. According to a Massachusetts study, that same high percentage applied to teen woman, aged 15-19, as well. Also, 60% of all rapes reported to rape crisis centers are committed by acquaintances, and the majority of victims are aged 16-24. Myth: Men are battered by women just as often as women are battered by men. Fact: The U. S. Bureau of Justice Statistics reports that 95% of the reported incidents of assaults in relationships are committed by males. Myth: Alcohol causes a man to batter Fact: Many men who batter do not drink heavily , and many alcoholics do not beat their partners. Further, batterers who do drink dont necessarily give up battering when they give up drinking. While they are drunk, the alcohol acts as their excuse. Myth: Victims bring on the abuse themselves. They ask for it Fact: Perpetrators believe they have the right to use abuse to control their partner, and they see the victim as less than equal to themselves. The victim has no control over the abuser. Myth: If a person stays in an abusive relationship, it must not really be that bad. Fact: People stay in abusive relationships for a number of reasons: fear, economic dependence, confusion, loss of self-confidence, not recognizing that whats happening is abusive, belief that the abuser needs their help or will change. Myth: Most batterers are bums or crazy people. Fact: Batterers are found in all classes and types of people: rich, poor, professional, unemployed, black, white, urban, and rural. Bibliography : ncpc. org/3vio3dc. htm 911rape. org/facts/index. html

Tuesday, March 3, 2020

Low Score on the Old SAT Should I Take the New SAT

Low Score on the Old SAT Should I Take the New SAT SAT / ACT Prep Online Guides and Tips Not so happy with your score on the Old SAT? You might be thinking about retaking the test. Unfortunately for you, the redesigned version of the SAT – in this post, we’ll just call it the â€Å"New SAT† – debuted in March of this year. Which means if you retake the SAT, you’ll be taking a totally redesigned test. So you may be wondering, "Should I take the New SAT?" This post will help you decide if your Old SAT score is really not good enough for the colleges you hope to apply to. Next, we will explain some potential challenges with studying for the New SAT, and help you decide if it’s the right step for you. Don’t sign up for the New SAT before reading this post! Evaluating Your Old SAT Score – Is It Actually Bad? So how do we decide if your Old SAT score is good or bad? First, we’ll briefly run through the national score rankings, and next, compare your score to colleges' SAT score averages. Finally, we will make the call on whether your Old SAT score is good or bad! National SAT Percentile Rankings A percentile ranking is a comparison of your score with every other SAT score, and it shows how much better – or worse – you did than everyone else. For example, if your score is in the 50th percentile, 50% of test takers did better than you, and 50% did worse. If your score is in the 30th percentile, 70% of test takers did better than you, and 30% did worse. If you’re in the 90th percentile, just 10% of test-takers did better than you, and 90% did worse. Percentile rankings are thus an easy way to compare your score with other students’ scores to get a rough sense of how good it is. The average Old SAT score is about a 1500 composite (total) score, which means about a 500 on each section: Critical Reading, Math, and Writing. If you got a 1500 or lower, and you’re aiming to apply to selective colleges, you will most likely need to take the New SAT. The 75th percentile is 1720, or about 570-580 per section. If you’re in the 75th percentile or higher, your SAT score will be competitive at many moderately selective schools. The 90th percentile is 1930, or about 640-650 per section. If you’re in the 90th percentile or higher, your score will be competitive at many selective schools. The 99th percentile is any score 2220 and higher, about 750 or higher per section. If you’re in the 99th percentile or higher, your score will be competitive at nearly all colleges and universities, even schools like the Ivy Leagues, Stanford, and MIT. You can see the complete percentile rankings for each SAT composite score here. Key Tip: If you haven’t already, find the percentile ranking of your Old SAT score, since it will give you a basic sense of whether your score is good or not . For example, if you have your heart set on Stanford University but you have a 50th percentile SAT score, you should definitely take the New SAT. But if you have a 90th percentile SAT score and you're applying to your local state schools, you won't have to worry about the New SAT (unless your local university has a particularly competitive honors program or merit scholarship!). If you fall somewhere in between those two extremes, keep reading to learn how to get the most precise information about your Old SAT score's potential. College Middle 50% Ranges Percentiles are a useful tool for getting a rough sense of how great, or not great, your SAT score is. But the most useful information comes from the colleges you want to apply to. After all, you take the SAT to get into college! Colleges release what are called â€Å"middle 50% ranges† to give students an idea of what kinds of SAT scores they need to be competitive. For example, let’s say a college has an SAT middle 50% range of 1500 to 1700. That means that 25% of admitted students had an SAT score lower than 1500, and 25% of admitted students had an SAT score higher than 1700, but the middle 50% had SAT scores in the range of 1500-1700. In most cases, if your SAT score falls within a school’s middle 50% range, you have a good shot at being admitted there, as long as the rest of your application is strong. If your score is above their ranges, you have a very high chance of admission, and if your score is below, you have a smaller chance. So for a school with a 1500-1700 middle 50% range, an SAT score of 1400 would be weak, a score of 1600 would be on target, and a score of 1800 would be amazing! So while percentiles are helpful, the most useful test of whether your SAT score is good depends on the colleges you want to apply to. To take another example, let’s say we have two students, Student A and Student B. They both got an 1800 on the Old SAT. Student A is applying to their local state university. Since the local state university’s middle 50% range is 1450-1700, Student A’s 1800 is more than high enough and they do not need to take the New SAT! But let’s take Student B. They really want to get into Harvard. Harvard’s middle 50% SAT range is very, very high: 2120 to 2400! Student B's 1800 is quite low and they should definitely take the New SAT. Key Tip: look up the SAT score ranges at the schools you are seriously interested in applying to. This will give you the best data to evaluate your Old SAT score with! In the next section, we will show you how to take those score ranges and decide if your Old SAT score needs to be replaced with a New SAT retake. Deciding If Your Score Is Low Now that you’ve looked up the middle 50% ranges at colleges you’re interested in, you’re ready to decide if your score is too low. Focus on the schools on your list with the highest score ranges as you make this decision, because it will give you the most options. For example, let’s say Student C got an 1800 on the Old SAT, and these are the schools they are most interested in, along with those schools' middle 50% SAT score ranges: UPenn: 2050-2320 Penn State: 1600-1910 Temple University: 1510-1840 While that 1800 SAT score is at the top of Temple’s ranges and comfortably within Penn State’s ranges, it is not high enough to be competitive at Penn. If Student C really wants to go to Penn (and any other highly selective schools) they should take the New SAT. Let’s take another example, Student D. Let’s say Student D wants to go to the same three schools, and scored exactly a 2200 composite on the Old SAT. Their score is well above Penn State and Temple’s ranges, and well within Penn’s. However, since Penn is a highly selective school, to maximize your chances, it’s best to have an SAT score near the top or above the middle 50% range to give yourself the best chance – so in this case, a 2320 or higher. While we would normally advise a 2200 scorer to consider retaking the SAT to get into the 2250+ range, for Student D, it might not be worth the significant time it would take to learn about and study for the New SAT just to get those extra 50 composite points. So unless Student D decides to add an even more competitive school to their list, like Harvard or Stanford, they should not take the New SAT and leave their 2200 composite alone! Key Tip: Arrange your target schools in a list from highest SAT middle 50% range to lowest, like we did above. Next, compare your SAT score to the middle 50% range at the most competitive school on your list. If your score is below their middle 50% range: Definitely take the New SAT. If your score is within their middle 50% range: Take the New SAT if it’s a highly selective school, don’t take it if it’s a moderately selective school or lower. If your score is above their middle 50% range: Don’t take the New SAT. How an Old SAT Score and New SAT Score Will Be Compared by Colleges, and Why This Matters One other factor to take into consideration as you sign up for the New SAT is superscoring. What is superscoring? Superscoring combines your highest section scores from different SAT dates to create the highest possible composite score. Here’s an example: Test 1: 700 Critical Reading, 600 Math, 650 Writing, Composite = 1950 Test 2: 650 Critical Reading, 700 Math, 700 Writing, Composite = 2050 Superscore: 700 Critical Reading 700 Math, 700 Writing, Composite = 2100 Unfortunately, at many colleges, the Old SAT and New SAT won’t be superscored together, which puts you at a disadvantage if you have one Old SAT score and one New SAT score. Here are quotes from just a few college's admission websites about how they are treating Old and New SAT scores: Dartmouth: "...we will consider your highest 'superscored' results from either the current or the redesigned SAT; we will not combine scores from both versions." Johns Hopkins: "We will combine the highest section scores from any test date within the current SAT and any test date within the redesigned SAT, but not across the two tests." Penn: â€Å"Current SAT scores will only be superscored with other current SAT results. Redesigned SAT scores will only be superscored with redesigned SAT test results.† Stanford: "We will superscore the results from the current and redesigned SAT separately." Vanderbilt: "Vanderbilt will not super-score between the existing SAT and the revised SAT, but we will super-score within the same type of SAT.† This is just a handful of schools, but their policies reveal the trend towards not superscoring the Old and New SAT. We have seem some different policies out there, so make sure to look up the superscoring policy between Old and New SAT scores at any colleges you are planning to apply to. But in general, it's safe to assume that for many schools on your list, the Old SAT and the New SAT will be treated as separate entities. For many schools, the New SAT and Old SAT are like apples and oranges: too different to compare. Say that you get these two scores on the Old and New SAT: Test 1 (Old SAT): 700 Critical Reading, 600 Math, 650 Writing, 1950 Composite Test 2 (New SAT): 650 Evidence-Based Reading and Writing, 700 Math, 1350 Composite Even though you got your Math score up to a 700 on the New SAT, it will not be superscored with your old SAT score to make a higher composite. Why does this matter? It means that if you retake the New SAT, you have to work extra hard to make sure both your Math and Reading/Writing scores go up, so that your composite score is decidedly higher on the New SAT and the retake is most helpful to you. If you only increase one section’s score and/or end up with a composite score that is at the same or lower percentile ranking, the retake won’t help you that much. Unlike a retake for the Old SAT, on which you could study the hardest for one section so that your superscore would be strong, you need to work for all-around success on the New SAT. And this won’t necessarily be an easy task, as we’ll see! In short, if you need to take the New SAT, you will have to devote a significant amount of time to studying to make sure your new score is strong! Why the Time Commitment for a New SAT Retake Will Be Higher than an Old SAT Retake Studying for a New SAT retake will be challenging. If you were retaking the Old SAT again, you would be at an advantage, in that you would already be familiar with the test, its timing, topics tested, etc. So when you studied, you could just go straight to your problem areas and work to improve them. For the New SAT, you have to go back to the drawing board – the format and timing have both completely transformed, as well as question types and even content. Prepare to spend plenty of time with your prep books and practice questions. For example, on the old SAT Critical Reading section, you had to study vocabulary words, many that were obscure, to be ready for the sentence completion questions. However, on the new SAT Reading section, there are no more sentence completion questions! That means any obscure vocabulary you crammed into your brain before you took the Old SAT won’t help you here. But you need to be prepared for new question types, including evidence support questions. Evidence support questions are two-part. The first question asks you about something about a passage, and the second question asks you which lines in the passage give you evidence for your answer! These questions are quite tricky, because if you get the first question wrong, you will likely miss the second one, as well. And that is just one of many new question types to expect. (Read a complete breakdown of the New SAT here.) To be ready for the test, you need to put in sufficient study time, especially since, as we explained above, your old SAT score will not be superscored with whatever you get on the New SAT. So exactly how long should you study for? Follow these steps to find out. Find your target SAT score for the Old SAT. Old SAT scores will still be used for middle 50% ranges on college websites for at least another year since the New SAT hasn’t been offered long enough to be factored into college admissions data. Translate your Old SAT target score to a New SAT target score, following the method in this article. Take a New SAT practice test and determine how much you need to improve to reach your target score. Based on the chart below, estimate the numberof hours you will need to study to achieve yourtarget score. I suggest adding on about 5 hours to each estimate to account for learning about the new test. 0-30 Point Improvement: 10 hours 30-70 Point Improvement: 20 hours 70-130 Point Improvement: 40 hours 130-200 Point Improvement: 80 hours 200-330 Point Improvement: 150 hours+ Whatever you do, do not take the New SAT without sufficiently studying for it – if you assume you can just wing it since you’ve already taken the SAT once,you could easily end up with a New SAT score that’s lower than your Old SAT score! For more on studying for the New SAT, see our post on how to study effectively for the redesigned test. Another Possibility: Think About the ACT Since studying for the New SAT is basically preparing for an all-new test, you may want to consider switching to the ACT, since there aremore practice testsand better prep materials available for the older test. The best way to decide whether to jump off the SAT ship would be to take one ACT practice test and one new SAT practice test, and see which test you do the best on and feel the most comfortable with. How will you compare your results? After you take a practice version of both tests, use the table in our post about SAT to ACT score conversion, which uses a 1600 total SAT composite, to see whether your New SAT or ACT score is higher. (Also keep in mind this is an estimation since we do not have any percentile data on the New SAT yet, so if your scores are quite close, read on to learn about differences between the SAT and ACT to help you decide.) The grass may not actually be greener on the other side... Let’s look atan example. Say you take an ACT practice test and a New SAT practice test. These are your composite scores for each: ACT: 28 New SAT: 1100 Using the conversion table, that ACT score would be about a 1260 on the SAT, while that SAT score would be about a 24 on the ACT. The ACT score of 28 is a lot stronger, so it would be wiser to focus on the ACT instead of the SAT – you may be able to get that 28 up to a 30, if not a 33 or higher (99th percentile)! Also be aware of these key differences between the ACT and the New SAT, especially if you get a similar score on both practice tests and aren't sure which test to focus on: Reading: while both reading sections have you read and answer questions about long passages, including a set of paired passages, SAT Reading could be trickier because it will include a passage from classic literature or a US founding document, which contains harder language, and it contains evidence support questions, which we discussed above as one of the trickier additions to the New SAT. Math: ACT Math has far more geometry and trigonometry, is grouped into one big 60-minute section, and you can use a calculator the whole time. SAT Math has less geometry, has a shorter no-calculator section and then a calculator section, and still has some grid-in questions (questions where you fill in the answer rather than choosing from a multiple-choice set). Writing: The ACT and New SAT Writing sections are very similar. They both have a long passage format that has you correct mistakes in grammar and usage. ACT Writing has more questions, which could change your approach, and also contains some big-picture questions, while SAT Writing does not. Science: A major difference between the two tests is that the ACT has a whole science section while the SAT does not. The SAT sort of makes up for this by including charts and data analysis in their other sections, so they’ve rolled some of the ACT science skills into other parts of the test. That said, if you’re really good at reading and understanding charts and data, you might benefit from the ACT since you’ll have a whole section about that. See more on these differences in our post New SAT vs ACT: Full Breakdown. After you’ve compared your performance on the New SAT and ACT practice tests, and learned more about both tests, you can decide which test to focus on. It may be that you actually like the ACT better than the new SAT, in which case it makes more sense to study for it! One additional benefit to taking the ACT and doing well is this: since colleges only require the SAT or the ACT, you wouldn’t even have to send in your mediocre old SAT score, just your ACT score. Furthermore, you would avoid any potential bumps in the road as College Board rolls out the new SAT (longer waits to get your score after the first few tests, confusion at testing centers by proctors used to the Old SAT, etc). So if you've decided your Old SAT score is low and you need to retake the New SAT, make sure to consider the ACT as well. It may turn out to be the better option! Bottom Line: Should I Take the New SAT? So who should take the New SAT (or ACT!), and who should skip it? This is our advice. Take the New SAT if†¦ Your Old SAT score is below the middle 50% ranges for the most competitive school you are applying to. You are applying to a highly selective school and your Old SAT score is within, but not above, their score ranges. You have timeto study extensively! Your retake will not be worth itif you get a comparatively lower score. Don’t take the New SAT if†¦ Your Old SAT score is within or above the middle 50% ranges for the most competitive school you are applying to. You aren't willing to put in the necessary effort to improve. You decide to take the ACT instead. What’s Next? We talked about a few changes between the Old and New SAT in this post, but I recommend reading a complete breakdown of the changes at our complete guide to the New SAT before you decide whether to take the test or not. This will give you even more information to help you tackle the New SAT with confidence. Are you avoiding the ACT because you think colleges don’t think it’s as good as the SAT? Learn exactly what the Ivy League and other top schools think of the ACT. How exactly are colleges dealing with the transition to the New SAT? Read interviews with over 30 colleges about the New SAT, including which version of the test they are accepting, how they are comparing Old and New SAT scores, and more. Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

Sunday, February 16, 2020

Murabahah in Islamic Commercial Law Application within Islamic Banking Essay

Murabahah in Islamic Commercial Law Application within Islamic Banking and Finance Industry - Essay Example Now there are more than two hundred Islamic financial establishments all over the world. Actually, Murabahah is a term associated with Islamic Fiqh, which indicates to a particular type of sale, and it has nothing to do with financing. Islamic scholars still argue that, the structuring of  Murabahah  financing is rather different from the overdraft facility prepared along conventional lines as the former one offers numerous benefits to the bank and its customers. In fact, murabahah as a means of finance was permitted by the Sharia scholars with certain conditions. Unless these conditions are fully observed, murabahah is not allowable. According to Sharia, if the conditions are ignored, the transaction becomes void or worthless. â€Å"Murabaha is a sale contract for selling a specified item at a mutually agreed mark-up (profit) added to the purchase price† (Trade Based Financing Murabaha Cost-Plus Sale) n.d.). Issues in  Murabahah 1. Securities against  the Murabahah Pa yments received from sale are called receivables, and for this purpose, the clients are asked to provide a security. 2. Guaranteeing Murabahah The seller can request the client to provide a  third  party guarantee. The guarantee doesn’t have the option to charge fee from the client. The reason is that, a person who is charged with a fee for advancing loan may fall under the definition of riba. . 3.  Penalty of Non-Payment: In case a client fails to make payment of the fee on the due date, the fee should not be increased. â€Å"In Murabahah financing, once the price is fixed, it cannot be increased† (Important Issues Involved in Murabahah n.d.). 4.  Ã¢â‚¬Å"Rollover in  the Murabahah† (Roll Over in Murabahah 2011): Once a commodity is sold through Murabahah, its possession transfers from the bank to the client, and therefore the seller may not have any right on the property. The seller can claim only the price agreed. 5.  Rebate on Former Payments: Occa sionally some debtors often like to pay before time to obtain discounts. However within Islam, a large section of Muslim scholars as well as the major schools of thought regard this as un ­Islamic. On the other hand, if the Islamic bank or the financial institution gives somebody a discount on its own, it is not offensive, particularly if the clients are needy. The Significant Issue in Murabahah Financing. The subject of debate among the modern Shariah scholars is that the bank or financier can go for a real sale while the client requests Murabahah financing from the bank, because the obligatory commodity, at this stage is not possessed by the bank, and the person cannot sell goods not possessed by him nor can he facilitate a forward sale. It is also decided that the commodity which is sold is given as a security to the seller. Some scholars have the opinion that this can be done only after the buyer has undertaken its delivery and not prior to that. Critically Discuss and Analyze the Discourse from the Different Legislations and Jurisdictions by Presenting the Islamic Finance Cases that Have Come Before the Courts. Islamic banking denotes a system of banking activity or banking that is reliable with the principles and rules of Islamic law (Sharia), and its practical application in the course of the growth of Islamic economics. â€Å"Sharia forbids† the payment of fees for lending cash (Riba, usury) on specific conditions, in addition to investing in businesses that offer goods or services measured contrary to its principles (Haraam, forbidden). At the same time, as these principles were employed as the support base for a flourishing financial system in earlier times, it is merely in the late 20th century that numerous Islamic banks were created to apply these principles to semi-private