Analyze the 2012 Penn State scandal using ethical thinking and the Essay

Analyze the 2012 Penn State scandal using ethical thinking and the various ethical theories - Essay Example A majority of high-level university officials were charged with perjury, dismissed or suspended for covering up the activities by failing to report to the authorities. The sexual assault charges were brought onto Jerry Sandusky for sexual assaulting at least eight underage boys near or on the university property with the full knowledge of some university officials who failed to intervene or report to the appropriate authorities. The grand jury trial dropped four of the 52 charges against Jerry Sandusky who was found guilty of 45 of the 48 counts of sex assault charges, and he was sentenced to 30-60 years in prison. This paper seeks to discuss ethical thinking and ethical theories involved in the above-mentioned case. The 2012 Penn State scandal raises some very important and crucial ethical questions regarding the incident that saw top ranking university officials cover up sex assault activities of a member of staff. On their part, the members of staff who did not report Jerry Sandus ky’s activities to the authorities or take pre-emptive measures to intervene illustrate negligence. It was the responsibility and it still is for every individual in society to report sex abuse crimes to the authorities. ... Revelations that brought Jerry Sandusky’s sex abuse charges cast Joe’s ethical responsibility in a different light that negates his role as coach and protector of his charges. Many ethical issues abound regarding this case because of its multifaceted nature in terms of rationale and perspectives. It can be construed that the university’s officials failed to report on the sex abuse cases for fear of damaging the university’s reputation. On the other hand, the plight of the abused underage boys comes into sharp focus as to what was more important between the university’s reputation and their wellbeing. According to Gigerenzer, bounded rationality is an idea in decision making that stipulates the rationality behind decision making. It states that decision making in individuals is limited by the amount of information available to them with regard to the subject in question. The finite expanse of time available to them in making the decision and their co gnitive limitations are also considered in this approach towards decision-making (Gigerenzer, 2010). The theory of bonded rationality terms rationality as an optimization tool that facilitates decision making in finding an optimal solution concerning the information available. Bounded rationality provides the decision makers with the option of arriving at decisions that are viable under their presenting circumstances. In essence, this means that due to limited resources like sufficient information and time, an individual is applies their rationality only after simplifying their choices (Hinman, 2011). This means that the arrival at a decision that ensures an optimal solution is not critically considered as paramount compared to the available simplified choices. In the case of the Penn State scandal, the officials

Risk management Essay Example | Topics and Well Written Essays - 2000 words

Risk management - Essay Example This report will focus on the different types of yield curves and how changes in the slope of yield curve impacts the future prospects of the economy. Further, it will also take into consideration the effectiveness of monetary policy responses in the time of financial crisis and how those responses have affected the shape of the yield curve. Table of Contents Executive Summary 2 Table of Contents 3 Introduction 4 Task 1: To Examine the Types of Yield Curve 4 Task 2: Impact of Yield Curve on Future Economic Prospect 6 Task 3: Effectiveness of Monetary Policy 9 Task 4: Implication for Investor and Policy makers 10 Conclusion 10 Appendices 11 Reference 13 Introduction A yield curve is referred to the graphical representation of the relationship among the yield on a group of securities for different maturities. It explains how interest rates differ with the term to maturity (Burton, Burton and Nesiba, 2010, p.115). The yield curve has too much information about the economic conditions an d the future interest rates. In U.S. the benchmark interest rate last recorded was at 0.25%. Federal Reserve reports the interest rates in U.S. Historically, from 1971 to 2013, the interest rate of U.S. averaged 6.17 % and recorded a high of 20% in March 1980 and a low of 0.25% in December 2008. Interest rate changes depend not only on what Federal Reserve does today or next year but also on perception of the people about the goals and reliability of the monetary authority. In U.S. the monetary policy is determined by the Federal Reserve. The goals and the associated expectations depends on the arrangement of the monetary policy (Haubrich, 2004, p.1). The yield curve is used by the investors to understand the future prospects of economic activities. Task 1: To Examine the Types of Yield Curve The structure of interest rates can be characterized by a graph which shows the relationship between the yields to maturity as a function of term to maturity. Such a graph is termed as yield cu rve. There are four different types of yield curve for U.S. Treasury securities such as normal yield curve or upward sloping yield curve, inverted yield curve or downward sloping yield curve, flat yield curve and humped yield curve. There are two theories which are used to explain the shapes of yield curves. The pure expectation theory reflects the current expectation of the future rates of the market and the market segmentation theory signifies that the shape of yield curve is established by demand for and supply of securities within each maturity sector. In normal yield curve long term rates are high in position than short term rates. The securities with longest maturity provide the highest returns and the shortest maturity securities provide lowest returns. Generally it is upward sloping. The normal yield curve signifies the normal conditions of the capital markets. It presents the borrowers with the risk-return trade-off (Droms and Wright, 2010, pp.144-145). It entails that the investors of the U.S. expect growth in the economy in the future and for this growth to lead to higher interest rates and higher inflation. They don’t purchase longer term securities without receiving a higher interest r

The determinants of the rate of interest and the significance of Essay

The determinants of the rate of interest and the significance of interest rates to policy makers and other economic actors - Essay Example It is described as interest in percentage of the amount of funds borrowed. This is a simple explanation of the rate of interest. Let's review some definitions of the rate of interest to comprehend the concept (Unit 3). Bannock et al has defined the rate of interest as the price a borrower has to pay to enjoy the use of cash which he or she does not own, and the return a lender enjoys for deferring consumption or parting with liquidity (1998:346). According to Mike Moffatt, "The interest rate is the yearly price charged by a lender to a borrower in order for the borrower to obtain a loan. This is usually expressed as a percentage of the total amount loaned". (http://economics.about.com/cs/economicsglossary/g/interest_rate.htm). Thus, interest rate is the annually charged in percentage on the principal. Interest is derived by dividing the amount of interest by the amount of principal. Inflation and the government policies play a crucial part in bringing fluctuations in the interest rates (www.investorwords.com/2539/interest_rate.html). It is pivotal to know that although each bank decides its interest rates by its own on the loans sanctioned but actually local rates are almost same in different banks. When there is inflation, interest rates go up because of increased need of credit, tight money market, or for the reason that banks' need to maintain a higher reserves. Any of the reasons affect the business activity and the stock market as well. Businesses in need of funds have to pay more for the same amount of borrowing and the investors would prefer to invest in bank deposits or newly launched bonds than purchasing shares (http://www.businessdictionary.com/definition/interest-rate.html). Determinants of interest rate levels Parameters of interest rates (Upton, 2009) are defined by supply and demand when the supply of money is equal to the desire of economic entities to borrow. Further, it is important to know the factors that affect supply and demand. Since interest is a pay back for delaying consumption, a higher rate of interest will accrue in more supply of funds. We can say that in different circumstances an interest rate may not result in same supply of funds. In different countries people don't have the same concern for consumption, as one can perceive that there are different savings rates. When economic conditions are not stable, people are more induced to save, as seen in their behaviour during "depression generation". Demand (Upton, 2009) on the contrary, depends on the availability of investments. At the low interest rates investments provide more margins. With the positive growth environment and technological advancement, demand for investment will boost. Other things that impact future growth are rate of increase in population, labour force, and education and skill standards. On the whole economic environment and production environment determine the level of demand for funds. The interest rate is (Upton, 2009) determined by the economic and other factors causing increase in the capacity of consu

Innovation & Entrepreneurship ( Market Research & Feasibility Study ) Paper

Innovation & Entrepreneurship ( Market & Feasibility Study ) - Research Paper Example The report will cover among other things the market demand for fast food in London and risks that may be encountered by investing in such a business in London. Objectives The objective of this feasibility study is to examine the suitability and riskiness of investing in a hospitality industry in London, U.K. This is because we have a great interest of establishing a fast food restaurant in London city. We strongly believe that fast food is doing so well in the city, which will enable us generate high profits in the long run. As a result, we intend to secure commercial premises along Cambridge Street, where, we believe, the business will do so well. We will conduct the feasibility study through market research involving interviews, questionnaires and direct observations. Products and services The restaurant will be serving a variety of U.K. cuisines such as burger, chips, pizza, french fries, tea, and coffee among other delicacies (Euromonitor International Par.4). Our foods will be s erved within the business premises, and customers will have a chance to have a take-way. Since the business will be located within one of the busiest streets in London, we believe that we will have many customers, both local and international tourists who visit the city and who will come to our restaurant. With the high sales expected throughout the season, we are optimistic that the business will generate high returns. In addition, we intend to offer the best-prepared cuisine in London as a whole. Market Research To understand the suitability of Cambridge Street as a good place for fast food restaurant, we conducted research through direct observations, interviews and the use of questionnaires with the residents of the London city. Findings showed that a majority of the London residents eat a lot of fast foods prepared in restaurants, as noted by Kuhn (Par.3). Findings also showed that a majority were young people between the ages of 10 to 60 years. At the same time, we found out t hat students also like eating fast foods, particularly those we intend to offer. In this regard, about 95 % of those interviewed stated that they prefer eating fast foods in restaurants because of lack of enough time to prepare food at home (Ruddick Par.6). Furthermore, they stated that fast foods are cost-effective and delicious. Others argued that eating in a restaurant also gives them opportunity to socialize with their friends and families, as noted by Boella (84). Pricing and promotion Based on the feasibility study, we discovered that our business would face stiff competition from other restaurants in this area. However, the good thing is that the closest restaurant will be within a mile from where we intend to locate the business. However, to beat the probable competition, we will carry out an intensive marketing and promotion campaign throughout London and the U.K. at large to create awareness about our company and the cuisine we offer. We also intend to ensure that we use t he latest technology to ensure high quality in the foods we serve. At the same time, we shall ensure that we maintain the highest standards of hygiene within and around our business premises. In addition, our resaurant will charge reasonable prices, which we believe, will keep our customers coming. This will

AT&T MOBILITY LLC v. CONCEPCION ET UX Essay Example | Topics and Well Written Essays - 1250 words

AT&T MOBILITY LLC v. CONCEPCION ET UX - Essay Example The Ninth Court held a 5-4 decision that was written by Justice Scalia. The majority held that the provision was unconscionable under the provisions of California law as held by the Discover Bank. Laster v. AT&T Mobility LLC, 584 F.  3d 849, 855. This paper will analyze this case by explaining the issues involved, the majority opinion and also provide a stand on whether the minority dissent was better than the majority opinion. In the AT&T Mobility LLC v. Concepcion et ux. case, the Supreme Court in U.S ruled against the use of a state judicial doctrine that made the enforceability of an arbitration agreement limited. This decision dealt a blow to consumers but proved a success to corporations and merchants. The Supreme Court ruled that the Federal Arbitration Act (FAA) obstructs the application of a judicial doctrine (Discover Bank rule) used in California that gives courts the permission to hold unconscionable class action arbitration waivers in agreements with consumers concerned. The above doctrine applies in cases where the class proceedings involve an adhesion consumer contract, when disputes attract small amounts of damage and that the superior party in the contract has deliberately conned many consumers’ large sums of money. The Supreme Court ruled that the FAA obstructs the California rule, thereby eliminating strong basis for protecting consumers (Sergeant, 2012). This paper will discuss t he AT&T Mobility LLC v. Concepcion et ux. case and the ethical issues in it. Vince and Liza Concepcion made a cell phone agreement contract with Cingular Wireless in February 2002. This contract had an arbitration clause that mandated all claims to be brought in the individual capacity of the party as opposed to a plaintiff or class member in ant representative proceeding or purported class. The agreement gave the service provider permission to make unilateral amendments willingly. AT&T Mobility LLC took over Cingular in 2005 with all its consumer

How will e-health affect patient participation in the clinic pros and Essay

How will e-health affect patient participation in the clinic pros and cons - Essay Example E-health is defined as â€Å"a new term used to describe the combined use of electronic communication and information technology in the health sector OR is the use, in the health sector, of digital data-transmitted, stored and retrieved electronically-for clinical, educational and administrative purposes, both at the local site and at a distance† (WHO Regional Office for the Eastern Mediterranean, 2003). When it comes to clinical purposes, e-health makes easy it to manage and update medical records, allows electronic prescribing of medications, and makes patient management less demanding. E-health also fosters learning. Patients can access information about their condition and treatment options. There are also online support groups for people with similar conditions through e-health. Doctors can also use e-health for their continuing medical education. ICT health tools can also be used for organizational purposes. Scheduling of appointments and monitoring of laboratory results are made easier with e-health. The development of e-health has made it possible for healthcare professionals to give and for patients to receive quality, effective, and efficient healthcare services. Through the use of various e-health tools and services, communication and health management are a lot quicker and easier. Information is easily accessible and there is less stress on both healthcare providers and patients. E-health tools allow healthcare providers to care for the patients based on each one’s individual needs, allowing them to give care that is patient-centered. For patients, e-health tools provide them with information regarding their condition and encourage them toward self-care. E-health has evolved a lot and many consider it to be an indispensable tool in the industry of healthcare. Laboratories rely heavily on computers for analysis and many diagnostic

Army Nurse Corps Essay Example for Free

Army Nurse Corps Essay All women in the Army served then in either the Army Nurse Corps or the Women’s Army Corps (WAC). All Army nurses were officers, and were Direct Commissions. That is, they became nurses first and then attended a ten day or so Orientation Course at (Ft. Sam Houston, Texas) to teach them how to be officers, the rudiments of military life, who to salute and when, etc. (There were a small number of male nurses who went through the same program. ) Nurses were assigned to Army hospitals, both Stateside and overseas, and were billeted separately from male officers. In Vietnam, Army nurses served exclusively in rear-area hospitals at major bases. The Women’s Army Corps (WAC) provided all Army female enlisted personnel and also had its own officers. Most WAC officers exclusively administered WAC units, but a handful received assignments to staff positions and other rear-echelon duties. In Vietnam, enlisted WACs performed mostly clerical duties, although some worked as medical technicians. Whatever their duty assignments, all enlisted women, on any base, even in the States, were billeted together as a single WAC Company in a guarded compound. (WAC officers had separate quarters, of course. ) Within this compound, in their barracks, WACs pulled their own guard, armed with baseball bats and whistles. (Neither WACs or nurses were issued weapons, and even those sent to Vietnam had only rudimentary firearms training. ) One tiny WAC unit (peak strength, 20 officers and 139 enlisted women) was assigned to Saigon, and nowhere else in-country. No WACs, even medical personnel, got any closer to combat than this. Eight US servicewomen died in Vietnam. Of these, four Army nurses and an Air Force flight nurse were killed in three separate, non-combat, plane crashes, and another died from disease. An older nurse died of a stroke. Only one woman, Army 1LT Sharon Ann Lane, was actually killed in a combat action, in a VC rocket attack on Chu Lai, in 1969. Besides nurses and WACs other American women would also go to Vietnam. TOD and China Beach covered most of the categories. American Red Cross girls, entertainers, civilian employees of the US government or contracting firms, newspaper correspondents, Christian missionaries, that about covers it. ARC girls made brief daylight visits (a few hours) to advance bases. The rest had rear-area jobs. (Christian missionaries were usually older, married women. ) American civilian women lived in major Vietnamese cities, which were off-limits to US troops, the exception being Saigon. Any women billeted on US bases also lived in guarded compounds. † Susan O’Neill served as an Army nurse in Vietnam from 1969 to 1970. â€Å"Don’t Mean Nothing† is her first book, written nearly thirty years after the experiences it depicts. O’Neill tells us that, (O’Neill, p. 15) â€Å"Before I went, I just assumed that war would involve injury and death; thats why I was being sent there, after all. But its one thing to look at it from a distance, and form neat mental pictures. Once you step through the looking glass, as it were, into the reality of itonce your sneakers are full of somebody elses bloodyou look at the whole thing quite differently. The bloods no longer a metaphor; it goes through to your socks and into the skin of your feet. Into your soul. † O’Neill gives us a clearer definition of what Vietnam was truly like. She offers that it wasn’t a place where you played around because people’s lives were at stake. The author goes on to tell us that, â€Å"Back in the states, when I so glibly thought I knew what Vietnam and war, in general, was about, I had opposed it on some cool-headed philosophical basis, from some distant notion of empathy. Gradually, in Vietnam, I became horrified at how callow my ideas had been.