Disobedience Essay Example | Topics and Well Written Essays - 1000 words

Disobedience - Essay Example It was during this time that the Western Tradition Law was formed and begun to develop. Sometimes, citizens felt that some laws are unjust hence result to resisting them. Most often, the resistance is non-violent and the citizens seek to disobey certain laws, commands of the government as well as new rules introduced by those occupying power intended to benefit themselves at the expense of the citizens. It is a respectful disagreement for the sake of what is fair and true. Edward Joseph Snowden is an American Computer specialist. He is a former agent of the Central Intelligence Agency as well as a former contractor of National Security Agency. Edward decided to leak some classified documents to the media outlets, these documents contained some information of global surveillance. The surveillance systems collected and analysed information on foreigners and Americans. Snowden did this because he felt that it was interfering with the privacy of the citizens. His action received varied o pinions besides tagged a patriot, traitor, whistle-blower as well as a spy. Thomas More was born at a time when school emphasized the value of authority, hierarchy, and social disciplines. He grew up with the belief that law went hand in hand with morality and morality corresponded with religion (Watson 8-10). According to More, morality was superior compared to law and that creation of laws had to base on the moral ethics. However, More believed in obedience of law and authority. According to him, law was uniform and there would be social disorder the leaders used their moral beliefs to rule. He calmed that it was a moral duty for individuals to obey the law. One of the famous quotes from him was that â€Å"I will give the devil the benefit of law, for my own safety.† (Watson 8-10) More served under King Henry VIII, he considered his way of ruling to be unjust and not wise. As much as he was not happy with the ways of the king, he still served the king and followed some

Corporate Finance and Governance Essay Example | Topics and Well Written Essays - 2500 words

Corporate Finance and Governance - Essay Example "It has long been recognised that the recognition of risk is an important component in capital budgeting decisions. The future is uncertain and investment appraisal techniques that fail to recognise this fact will almost certainly lead to incorrect conclusions and erroneous recommendations." (Brookfield, 1995) "In a longitudinal survey of capital budgeting practices of large UK companies between 1975 and 1992, substantial increase in the usage of discounted cash flow (DCF) and risk appraisal techniques were reported. Despite the increased usage of the more theoretically sound discounting techniques, several writers in both the UK and US have claimed that companies are underinvesting because they misapply or misinterpret DCF techniques. It has been asserted by several writers that firms are guilty of rejecting worthwhile investments because of the improper treatment of inflation in the financial appraisal. Many firms are understating NPVs and IRRs because of the incorrect treatment of inflation and the use of excessively high discount rates. Concern has also been expressed by various commentators that many companies are failing to invest in advanced manufacturing technologies (AMT) as fully as they should. Financial appraisal techniques have been cited as a major reason for the under-invest ment in new manufacturing technology. DCF procedures should not be ignored or relegated in importance merely because they might be used incorrectly. Instead, decision-makers should recognize potential problems and be careful to ensure that the financial appraisal is performed correctly." (Colin and Mike, 1986) "In a world in which information is not costlessly and symmetrically available to all economic agents, corporate project choices do not abide by the golden rule that all positive NPV projects should be accepted. In a sense, this is somewhat unsettling because it is difficult to prescribe simple rules for managers, and there has been little normative research into optimal capital allocation policies in different types of informationally constrained environments. However, the contemporary research highlights the pitfalls of policy-oriented discussions about corporate investment behaviour and managerial compensation packages that rely on the prescriptions of the traditional, symmetric-information paradigm of capital budgeting and financing. The research done to date indicates that many interesting things can happen under asymmetric information, none of which may be irrational, but some of which could be deleterious to the shareholders' welfare." (Thakur, 1993) Given these observations about investment appraisal techniques and DCF techniques, in particular, this report aims to assess the feasibility of using traditional investment appraisal techniques, while incorporating real-time variables such as risk and uncertainties. In particular, the report focuses on NPV as a basis for capital budgeting and evaluates how the concepts of risk-adjusted discount rates and sensitivity analysis can bolster traditional NPV estimation and thus provide business managers with realistic and flexible options when it comes to assessing the suitability and profitability of a particular investment or project. Accordingly, the  management approach should not be limited to using a fixed number of investment appraisal techniques; rather they should be more flexible while appraising the gains from a particular investment.