Ethical Issues in Forecasting and Decision Analysis Essay

ETHICAL ISSUES IN FORECASTING AND DECISION ANALYSIS Dunal M. McCurdy MBA 615- Business Foundations November 24, 2011 ETHICAL ISSUES IN FORECASTING AND DECISION ANALYSIS It is especially important to think about the most critical causes of the problem in making your forecasts and decisions. The process of forecasting involves using observations about the problem situation to predict the outcomes of your own actions, the actions of others, and the outcomes of other situational factors at play. Forecasting is especially critical in making decisions about problems with ethical implications because these types of problems often have significant consequences for the decision-maker, and other people, including the†¦show more content†¦For example, when a forecaster knows that a deadline is approaching, ethical issues may arise such as manipulating information to fit the scope of the forecasters outcome, having a bias opinion to reflect a self-serving approach, such as ensuring grant money is continuously received because of the skewed, biased information reported to appear inviting to investors and others that are involved with the project. Integrity and honorable deeds are a part of Christian living. We as Christians shall not follow any kind of ill-gotten gains to satisfy our carnal desires. Psalm 1 state, â€Å"Oh, the joys of those who do not follow the advice of the wicked, or stand around with sinners, or join in with mockers.† Also, Proverbs 18:18 sta tes, â€Å"It is poor judgment to guarantee another person’s debt or put up security for a friend.† Results indicate that our ethics should include information about the importance of forecasting potential outcomes of a person’s actions and potential decisions before making their final decision about ethical problems. Most ethical guidelines do not emphasize consequences, except in extreme circumstances, like harming subjects. Thus, ethics should emphasize the individual cognitive processes, like forecasting, that are involved in ethical decision-making. II Chronicles 18:13 expresses how important it is for us to make true and fair decisions for the benefit of all involved. â€Å"As surely as the Lord lives, IShow MoreRelatedCase Study : Partners Healthcare Systems1460 Words   |  6 Pagesproblem identified within the realms of the company. There are three main issues that this case study produced. The first outlying issue is called Alert/Warning Fatigue (Davenport, 2013). This derives from alerts that were placed in the system to warn doctors of notices that could b e anything from mixing prescriptions to simple notifications that most doctors already knew or was not in their field of study. A second issue that requires resolution to create a successful working system is the senseRead MoreHealthcare Case Study1293 Words   |  6 PagesEthical Misconduct Resulting in Bad Outcomes The Veterans Administration Medical Center (VA) hospital system has been in the national headlines for many years. This has generally not been in a positive way. 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The Jungle - 1075 Words

The Jungle Essay nbsp;nbsp;nbsp;nbsp;nbsp;The Jungle, by Upton Sinclair, clearly depicts the socio-economic strife and political turpitude that ushered America into the 20th century. While telling the story of Lithuanian immigrants struggling to survive in Chicago, Sinclair illustrates how avarice and ruthless competition were driving forces in the exploitational predatory capitalist  ³jungle ² of American  ³society ² at the turn of the century. This radical novel, described as muckraking by President Theodore Roosevelt, was a sounding board for pro-socialist politics. nbsp;nbsp;nbsp;nbsp;nbsp;Sinclair ¹s polemic drama begins in the back room of a Chicago saloon. The guests are drunk and drained. The prospect of returning to the†¦show more content†¦The elections were rigged by industrialists and Mafia with the workers generally losing. Sinclair illustrated this, for example, when Jurgis sought citizenship. Jurgis was obliged to vote for a local boss, Mike Scully. He became a citizen in exchange for two dollars plus two hours off work with pay. He became an undercover operator for that boss, taking bribes from his underlings and beating up strikers. nbsp;nbsp;nbsp;nbsp;nbsp;Sinclair reported that unions were no match for the capitalist organizations and the workers were ignorant of their own best interests. The businesses took advantage by cannibalizing the strong workers and discarding the weak. The entire political machine is exposed as corrupt and impersonal, taking no responsibility for the workers. Just as Uncle Tom ¹s Cabin exposed evils of slavery, Sinclair poignantly demonstrates that workers were slaves to the whims of their capitalist masters and that immigrants, ignorant of the language, ways and means, were the most vulnerable to the capitalist trap. nbsp;nbsp;nbsp;nbsp;nbsp;The themes of The Jungle also have parallelism to themes of science at the time, in particular, the naturalist movement espoused by Emile Zola, and the evolutionary theories of Charles Darwin. Just as Zola focused on how environment shapes the lives of the individual, Sinclair evinces that the downfall of his characters, and particularly theirShow MoreRelatedThe Jungle1982 Words   |  8 PagesRunning Head: THE JUNGLE The Jungle [Writer Name] [Institute Name] The Jungle Thesis Statement In this novel Upton Sinclair shows the problems of working class people. His believe in and contempt for capitalism as described in this story â€Å"The Jungle†. The writer explains capitalism in which the labor communities were treated very badly and to survive in the conditions of poverty. The novel rotates around the family of a character Jurgis Rudkus who have immigrated to America from Lithuania. AsRead MoreThe Jungle Analysis1641 Words   |  7 PagesCorruption, lies, adultery, politics, and death are all topics addressed in Upton Sinclair’s 1906 novel The Jungle. The book reveals the atrocities that occurred during the early 1900’s in Chicago’s cruel and disgusting meatpacking district. The Jungle chronicles the struggle of a Lithuanian family that came to America with dreams of making their riches and passing it on to their descendants. Analysis of the novel reveals a recurring theme of how desperation makes people do horrible things such asRead More The Jungle Essay774 Words   |  4 Pages The Jungle by Upton Sinclair Upton Sinclairs The Jungle is the tale of a Lithuanian immigrant, Jurgis Rudkus, and his family. 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Her sister, Tara, said, â€Å"Now Taler, do not go near that cliff.† Taler heard what her sister said, but she did it anyway, and everyday Taler would get closer and closer to the edge of the cliff. â€Å"Now Taler, do not go near that cliffRead MoreThe Irony of the Jungle1510 Words   |  7 PagesThe Irony of The Jungle Between 1870 and 1900 Chicago grew from a population of 299,000 to almost 1.7 million, the fastest-growing city ever at the time. This surge in population was largely attributed to immigrants coming from European countries seeking a chance for employment and new freedoms associated with moving to the United States at the time. 1905, in particular, was a historic year when a surge of over 1 million immigrants came to the city. During this time, author Upton SinclairRead MoreDisillusionment In The Jungle1399 Words   |  6 PagesIn the politically righteous book, The Jungle by Upton Sinclair, a newly wed’s feeling of innocence and happiness after their beautiful wedding in their homeland come to an end following the reality of discovering their new life in America. The notion comes from the disillusionment of American freedom and the twisted advertisement of a capitalist system. America was systematically built to be corrupt and dehumanized the significance of individual existence. This was done by easily replacing, deceivingRead MoreThe Jungle Essay1521 Words   |  7 PagesThe Jungle Throughout Upton Sinclair’s novel, The Jungle, the inhumane and disgusting treatment the working men and women was shown to the eyes of the American people. Although what the book is most recognized for is creating the Pure Food and Drug Act, an act that gave consumers protection from dangerous and impure foods, the many various horrors the lower working class had to go through was something that deserved more recognition. Upton Sinclair’s novel, The Jungle, gives an insight on howRead More the jungle Essay1116 Words   |  5 PagesSinclair found the setting of the book that would bring him to fame. He first won recognition by the jungle in 1906. This book is a powerful realistic study of social conditions in the stockyards and packing plants of Chicago. It aided in the passing of pure food laws. nbsp;nbsp;nbsp;nbsp;nbsp;This novel illustrates how greed and ruthless competition has made the turn of the century into a ruthless jungle. â€Å"Take or be Taken† was the guiding rule, and everyone was someone else’s prey. 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The Lithuanian family do not have the language skills required for their new life in America and everyday life is a struggle. The problems that rise from

Person Centred Counselling Free Essays

What I understand by the term Person- Centred Counselling Person-Centred counselling was developed by the psychologist Dr. Carl Rogers . It is a humanistic non-directive approach to counselling where the counsellor allows the client to lead the conversation and not try to steer them in a particular direction. We will write a custom essay sample on Person Centred Counselling or any similar topic only for you Order Now A fundamental part of this type of counselling is the therapeutic relationship between Counsellor/Client. An important part of this is providing an environment where a person feels free from threat, both physically and psychologically. This can be achieved by the counsellor providing three ‘core conditions’ genuineness, empathy and warmth which help that growth to occur. The approach relies on the personal qualities of the practitioner to build a non-judgemental and empathic relationship with the client. The objective of the counsellor is to listen without making any judgements, without giving advice, and make the client feel accepted for their own feelings. It trusts the client to find their own answers and direction and of being fully capable of fulfilling their own potential. There are many tools used in person-centred counselling, including active listening, , paraphrasing, summarising, minimal encourages etc. Person-centred counselling recognizes that achieving potential requires favourable conditions and that not having these conditions may lead the individual to not grow and develop in the best ways that are possible. When we are denied acceptance from others or it is made conditional upon the individual behaving in a particular way we may begin to lose touch with their own feelings and not be able to chose paths which are best for ourselves. When a client feels safe and accepted in the relationship they can explore their own feelings and desires and take any steps they feel necessary to self-actualize. This occurs when a person’s behaviour is congruent with the person they would like to be. Person-centred counselling encourages the client to freely look at themselves and accept themselves for who they are or make changes to eliminate the behaviours that they do not like. Positive regard is to do with how other people evaluate and judge us. If a person has not been accepted in life for numerous reasons it can affect their self worth. A person with low self-worth may avoid challenges in life, not accept that life can be painful and unhappy at times, and will be defensive and guarded with other people but a person who has high self-worth, that is, has confidence and positive feelings about themselves, faces challenges in life, accepts failure and unhappiness at times, and is open with people. By providing the client with the core conditions it allows for an environment where they feel accepted for who they are and can change the negative outlook they have on themselves and increase their self esteem. In summary person-centred counselling provides a therapeutic relationship which allows the client to explore their feelings freely. It promotes a person to go on in life and grow to be the best that they can possibly be. The overall aim of person-centred counselling is to help the client self actualise and become a Fully Functioning Person where they are Open to experience , live in the present moment, trust their own feelings, and live a fulfilled life where they are well adjusted and balanced. How to cite Person Centred Counselling, Papers

Business Laws for ANZ Global Markets Division-myassignmenthelp

Question: Discuss about theBusiness Laws for ANZ Global Markets Division. Answer: The Australian Securities Investment Commission is Australian watchdog which governs the functions of organizations which operate in Australia. In the recent years the commission has been able to procure various penalties for the breach of legal provisions and Australia. The penalties which the watchdog has been able to procure range from pecuniary penalties to disqualifications from managing a company. However not all claims made by the ASIC approved in the court of law but because of such claims the companies are subjected to loss of reputation which initiates a decrease in the value of the company. The first issue which would be analyzed by the paper is related to a civil action against ANZ bank. The ASIC had initiated proceedings against the company at the right time after weighing up the evidence which were available. The evidence was procured by ASIC through various international and domestic investigations. The case is expected to initiate a severe reaction from the involved parties as along with the millions of dollars involved with respect to the pecuniary penalties the issue also includes loss of reputation for the bank the securities market and regulators (The Conversation 2017). The actions have been initiated against ANZs Global Markets Division and Group Treasury for the activities its indulged in the period of March 2010 to May 2012. The AISC has alleged that the company influenced the interest rates through the use of its market position which subjected the clients of the bank to detriment and benefited the bank illegitimately. It has been provided by ANZ that it is vigorously going to defend against the claim. The two major areas in relation to the claim of ASIC include market manipulation and unconscionable which are governed by the Corporation Act 2001 (CA) and ASIC Act 2001 (AA) respectively and are difficult to prove technically. The concept of misleading and deceptive conduct had been removed from the scope of commercial law after the NRMA case where Richad Talbot and Dawn Fraser on the basis of a false and misleading prospectus representation. The areas of law have been placed now in the provisions of the CA and AA. Although the success rate of ASIC claims are very high there have been only a few cases where successful claims against these areas of law have been made. Further it is even more complex to prove a claim under section 1041A of the CA. The section is very significant and is related closely to the provisions of insider trading as provided by Section 1043 of the CA. In order to establish market manipulation a variety of factors have to be proved individually. Such laws have been difficult to prove by many regulators in the world including ASIC (Asic.gov.au 2017). In case the AISC is able to prove the claim it has made against ANZ it is going to have significant effect on the company. As it is a banking corporation the loss of reputation is going to cause significant damage to the company. The company would be imposed with a large about of fines by the court. An order to disqualify the directors from managing the company or any other corporation may also be obtained by AISC in this case. The securities of the company would be diminished in value and is likely to cause significant financial losses to the shareholders. The regulator has also claimed implementation of a training and compliance scheme in details. The Australian Financial Services License could also be removed by the court totally and such parts of the company would have to prohibit operations or may be subjected to restrictive conditions, which is likely to disrupt business heavily. ASIC has also commenced proceedings related to civil penalties in the federal court against Westpac banking corporation stating that the company has breached number of provisions related to the National Credit Protection Act 2009. In the proceedings the regulator has made an allegation that during the period of December 2011 to March 2015 the company was not able to properly assess whether people to whom home loans were provided could meet the repayment responsibilities before they were made to enter into contract of home loan. It was specifically provided ASIC that the company Westpac abided by a benchmark without considering the real expenses which were declared by the borrowers towards assessing the capacity of the individuals to meet the requirements of repayment. A months deficit could be seen where proper assessment of the borrowers ability to repay the loan was made. The company did not consider higher payments when the interest only period ended in relation to interest only p eriod loans when they were assessing the ability of the borrowers to repay. The regulator has provided that it has successfully initiated proceedings against Westpac relating to civil penalties. In addition proceedings had been initiated by the regulator against the subsidiaries of Westpac with the allegation that they failed to comply with the best interest duty imposed on them through both common law and the Corporation Act. All directors you have been provided with the responsibility of managing the company have the duty to act in such a way that their actions trigger the best interest of the company. However according to the allegations made by the ASIC Westpac indulged in providing personal financial product advice and particularly recommending the customers to shift their super funds into the super accounts related to Westpac without initiating proper comparison with others (Asic.gov.au 2017). The allegations have been strong rejected by Westpac stating that a general advice warning was provided to the customers before any conversation was initiated and therefore no comparison was required. The outcome of this case is going to be very important for the company as provided by the chief executive of Westpac Brian Hartzer. ASIC in reply have provided that if the company was to act in the best interest of the customers they must have provided them advice to invest in the super fans of such industries where the fees payable is lower and the customers would get better Returns because that would have been the best interest of the customers. In case the regulator is able to prove before the court that the company has and has been providing wrong advice to the customers along with not accessing the repayment capabilities of the borrowers the company could be subjected to severe financial losses and a multi-million dollar penalty may be imposed on it. In addition to the financial penalties the directors of the company maybe also subjected to a disqualification order if the claim for the same is made by the ASIC. In addition company has already suffered severe loss of reputation due to the allegations made by the ASIC against it. As a result the customers of the company has become agitated towards it and the share value of the company has also gone down after the allegations have been made. The two issues which have been discussed above are likely to be adjudged in favor of the ASIC. However the rate at which the decisions won by the ASIC have been overturned by the higher courts are high. It is also most likely that if a decision is made against the companies they would make an appeal against it in the higher courts. In the recent years the ASIC have successfully monitored the activities of the companies operating within Australia. The effect of such monitoring have resulted in the lowering of corporate legal issues in the country and the existing laws are taken very seriously by the corporations while discharging their functions. References Asic.gov.au. (2017). 16-460MR ASIC takes action against Westpac entities in relation to the 'best interests duty' and superannuation customers | ASIC - Australian Securities and Investments Commission. [online] Available at: https://asic.gov.au/about-asic/media-centre/find-a-media-release/2016-releases/16-460mr-asic-takes-action-against-westpac-entities-in-relation-to-the-best-interests-duty-and-superannuation-customers/ [Accessed 23 Aug. 2017]. Asic.gov.au. (2017). 17-048MR ASIC commences civil penalty proceedings against Westpac for breaching home-loan responsible lending laws | ASIC - Australian Securities and Investments Commission. [online] Available at: https://asic.gov.au/about-asic/media-centre/find-a-media-release/2017-releases/17-048mr-asic-commences-civil-penalty-proceedings-against-westpac-for-breaching-home-loan-responsible-lending-laws/ [Accessed 23 Aug. 2017]. Corporation Act 2001 National Credit Protection Act 2009 The Australian Securities Investment Commission Act 2001 The Conversation. (2017). ASIC v ANZ rate-rigging case will be one of epic proportions. [online] Available at: https://theconversation.com/asic-v-anz-rate-rigging-case-will-be-one-of-epic-proportions-55932 [Accessed 23 Aug. 2017].