Fair Value Accounting Essay

This paper attempts to answer the question: â€Å"Is it reasonable to blame fair value accounting for any of the Wall Street mess? † This paper in effect settle whether the use of fair value accounting by listed companies in the major stock exchanges in the US, particularly those found in Wall Street, which the caused fall in prices of the stocks of these companies, was required of companies without justification; hence, it should be blamed for the mess. 2. Analysis and Discussion Any mess in the Wall Street is defined for this paper as one causing the stock prices of companies list in major stock exchanges of the US to fall and that it resulted to losses to investors. To have reasonable basis to blame fair value accounting for any Wall Street mess, does not simply mean that fair value accounting was the necessary cause of fall in the prices of corporate stocks but that the requirement of fair value accounting must not be fair. The question that must be decided therefore is whether fair value accounting is fair as basis of valuing corporate assets, liabilities and equity. A situation or condition is fair if it gives what is due to a person. If the concept of fair value is used in the context of an asset purchased or liability assumed in business, fair value implies that said asset or liability must neither be overpriced nor underpriced whether perceived or otherwise. The law of economics would have fair value as one representing that market price or that equilibrium price of a product or service (Samuelson and Nordhaus, 1992) which is also the value of something from a seller that is not forced to sell or from a buyer that is not forced to buy. Investors, creditors, and other persons expect to be treated fairly as they enter into transactions in terms of value that they will give in exchange to what they will receive. To illustrate, a person or company planning to invest in stocks will appreciate what is fair if the said person or company will earn sufficient return above cost of capital in exchange for the risks being faced by such person or company (Brigham, 2002). To have what is fair, the investors must know the accurate and reliable information about of the company to guide them about their chances of gaining or losing money. These users deserve to have the opportunity to have the true or accurate value of asset, liability or equity being dealt with in a business transaction as basis for valuing the stocks that they will invest with. Financial reports prepared companies, as guided by Financial Accounting Standards Board (FASB) accounting standard under fair value accounting, will provide these users the opportunity. Specifically, fair value accounting was made pursuant to FAS 157 as issued by US FASB for companies to reflect the accounting information on the real values of assets, liabilities and equity in the balance sheet as contrasted with presenting the information using the historical cost accounting (Meigs and Meigs, 1995). A group of analysts and portfolio managers actually formed part of those who influenced the passage of the fair value accounting for more relevant information in decision making (Chasan, 2008). Under FAS 157 defines fair value is defined as the price that would be received â€Å"to sell an asset or paid to transfer a liability in an orderly transaction between market participants in a measurement date† (Sortur, 2007). If companies have restated their financial statements from historical cost accounting to fair value accounting, the purpose was laudable since in simple terms, the intention is to make the information more relevant, more accurate and more reliable for decision makers. If stockholders got affected in terms of lower price of stocks as a result of restatement of financial statements, the error was when they were made the purchase of their investments under the historical cost accounting. Since fair value accounting may also increase the value of the stocks if fair value is higher than cost, it could not be asserted that it should be blamed for the fall of prices but not praised for increased in price increase of stock prices. 3. Conclusion It can be concluded that it is not reasonable to blame fair value accounting for any of the Wall Street mess since fair value accounting is only bringing out what is fair to investors who deserved to know accurate and reliable information for making decisions. Fair value accounting is an accounting standard made by FASB that was made as a requirement from the corporation which must present truthful and reliable information for investors. As an alternative to historical value of accounting, fair value is expected to have present company more reliable information about their assets and liabilities in accordance with market prices. Its implementation may have caused companies to present their financial information and if the information presented were more truthful, the consequence of causing problems to companies should only be secondary to the purpose of providing objective and more reliable financial information. Any fall in stock prices from Wall Street may in fact have been caused by companies having to restate their financial statement pursuant to fair value accounting but the intention was to reflect to truer value of assets and liabilities of the corporations whose stocks got affected. Losers should not blame fair value accounting since the latter is just a guide to have more truthful information and they would have a change also of higher stock prices under fair value if warranted by market forces. If there was no basis for such more truthful information, then restatements of financial information using fair value would not have been made in the first place. If buyers and sellers are not being compelled to complete their transaction, fair value accounting must be held as fair and cannot be blamed for the mess. In fact, fair value accounting should have been introduced years ago for it could have saved some abuse and a lot of problems (Rees-Mogg, 2007). References: Brigham and Houston (2002), Introduction to Financial Management, Thomson-South Western, USA, 2002 Chasan, Emily (2008), Is fair value accounting really fair? {www document} URL, http://www. reuters. com/article/reutersEdge/idUSN1546484120080226, Accessed November 21, 2008 Meigs and Meigs (1995), Financial Accounting, McGraw-Hill, Inc, London, UK Rees-Mogg (2007), Why FAS 157 strikes dread into bankers, {www document} URL http://www. timesonline. co. uk/tol/comment/columnists/william_rees_mogg/article2852547. ece, Accessed November 21, 2008. Samuelson and Nordhaus (1992), Economics, McGraw-Hill, Inc, London, UK Sortur (2007) Fair Value Measurement, The Chartered Accountant {www document} URL, http://icai. org/resource_file/96471564-1574. pdf, Accessed November 21, 2008

Mayan Civilization with citations!

The Mayans were an extremely advanced Micronesian civilization. They were located near modern day Belize, Guatemala, Honduras, El Salvador and Mexico,l on the Yucatan Peninsula. They were skilled in art and architecture. This is evident by the many pyramids they constructed. 3 This civilization also utilized a great deal of technology. They built magnificent cities with huge stone temples and pyramids. They also developed an advanced system of writing, mathematics and astronomy, which they used to calculate an curate calendar. Another example of how the Mayans were advanced is their agricultural technology. For example, they used the slash and burn method on their crops in order to clear plots of land and fertilize the soil. 2 Mayans used certain building techniques which is a part of what makes their civilization unique as well as successful. Because there were such large supplies of limestone and flint available, plaster and cement was easily produced. This allowed the Mayans to bu ild impressive temples and stepped pyramids.Flat roofs made of cedar beams overlaid with mortar were also common in this area, along with murals often displaying religious figures in vibrant colors. L Certain cities were particularly famous for this typical Amman architecture. One of these cities is Diktat. It was the largest city in the empire, home to over 100,000 people. There were eight pyramids built in the city. 2 This civilization also had its own interesting religious beliefs. The Mayans were polytheistic and worshipped hundreds of gods, each of whom played a different role n the creation of the earth.The religion seems to have been made up of thirteen heavens and nine underworlds ruled by the nine lords of the nights, whose names are not known. Of all of the gods worshipped in this civilization, the sky god was the most important to the Mayans. The god of the sky was also the most frequent to appear in their ancient art, which included sculptures, ceramics, murals and archi tectural structures. It is evident that many of the structures built by the ancient Mayans were built in honor of the gods.Certain compounds were built with large open areas, from which all the citizens could view religious ceremonies, such as sacrifices that were held on elevated platforms. L The Mayans had an advanced language that they used to communicate with each other. Their alphabet was composed of glyphs rather than letters. 2 Not all inscriptions of this text can be deciphered yet. However, analyzing the written language became easier in the 1950 when a Russian ethnologist named Yuri Valedictorian Morrison proposed that the Amman script was at least partly phonetic.His theory was later proved correct, which was a breakthrough for all those studying this ancient civilization. 4 Another impressive feature of the Mayans was their strategic military. The empire was once thought to be peaceful, and held military forces solely for defensive purposes. Eventually, population growth increased competition with others, resulting in heightened levels of violence. Military action became involved in order to gain political control of people, land and resources. Some scholars have suggested that the capture of sacrificial victims was another driving force behind warfare.Mayans also had a decentralized government which made it more difficult to defeat, in turn protecting the nation from becoming over-ruled. 6 Overall, the Mayans were an extremely successful civilization. They made many significant discoveries in math and science. They also flourished artistically. After experienced a golden age lasting five centuries (300 to 800 AD), the Mayans suddenly and mysteriously abandoned their cities. The cause could have been from disease, natural disaster, deforestation, or even revolt but it is unknown to this day.

Emerging IT

Emerging IT The 21st century is marked by the development of information technology (IT) and the emergence of IT-related technologies. The growth of the internet as a platform for development, coupled with advances in technology has resulted in a slew of ethical dilemmas from individual and organizational levels.Advertising We will write a custom essay sample on Emerging IT-Related Technology’s Ethical Issues specifically for you for only $16.05 $11/page Learn More Subsequently, organizations have been compelled to ensure a balance between freedom and privacy of employees while at the same time ensuring that they observe ethical standards associated with emerging technologies such as cloud computing. However, the rapid growth of technology has resulted in multiple ethical challenges. Consequently, there are constant conflicts between personal and organizational beliefs in the workplace which has resulted in new ethical dilemmas created by emerging technologies as noted by Baase (2012). As a matter of fact, as new technology gives room for technological activities to be performed in new ways, circumstances may emerge in which adequate policies lack to guide us. The current paper is an attempt to explore emerging IT-related technology and the related ethical issues. The ethical dilemma under research is privacy and confidentiality on the application of emerging technology such as online retailing or e-commerce.  Large amount of consumer data is often given out to commercial entities to be stored for future use. For example, when we purchase goods online using visa cards or store discount cards, such information as consumer’s names, their home address, bank account names, and other private information are left with the commercial entities. Moreover, online e-commerce sites often use cookies with the aim of tracking down consumer’s buying habits. As such, the collection of these cookies into the companies’ database is aki n to revealing consumers’ private information. These systems are risky because when the information is released to third parties, it may be considered as risky as it creates an ethical dilemma (Moor, 2005). For example, the exposure of personal information to third parties as a result of data collection via cookies in the process of e-commerce results in ethical ramifications such as undermining of the first amendment and privacy rights (Baase, 2012). This is because the information is collected without the consent of the consumers. The issue of security also emerges since when personal information is left on the internet or e-commerce sites it could be accessed by a third party and this is a form of infringement on personal privacy and confidentiality.Advertising Looking for essay on ethics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Based on the analysis, the ethical question that emerges is; which information and data should be collected by online retailers and to what extent should the information be exposed? (Gilroy, 2012). This has created policy vacuums as it is not covered by the existing ethical policies (Moor, 2001). To counter this, there is need to replace the vacuum created by emerging information technology with good policies which can be sustained by reasonable justification. The need to safeguard the first amendment and privacy rights while carrying out computer transmissions such as online purchases is also important. Moreover, the mushrooming of massive data on the internet needs to be safeguarded to prevent it being exposed to third parties such as hackers or government spies. In conclusion, ethical issues are deemed to increase as technology advances thus creating ethical dilemmas. For instance, the adoption of e-commerce in the 21st century has resulted in compromised ethical issues such as the issue of privacy and confidentiality. Therefore, there is need to develop stringent policies which address these ethical issues as they emerge. This way, the policy vacuums created will be eliminated thus addressing new technological ethical dilemmas. Reference List Baase, S. (2012). A gift of fire: social, legal, and ethical issues for computing technology. (4th edn). Japan: Pearson. Gilroy, W. G. (2012). Emerging ethical dilemmas in science and technology. Science Daily. Web. Moor, J. H. (2001). The future of computer ethics: You ain’t seen nothin’ yet!. Ethics and Information Technology, 3(2), 89–91.Advertising We will write a custom essay sample on Emerging IT-Related Technology’s Ethical Issues specifically for you for only $16.05 $11/page Learn More Moor, J. H. (2005). Why we need better ethics for emerging technologies. Ethics and Information Technology, 7, 111–119.

How to Conjugate the Verb Stare in Italian

How to Conjugate the Verb 'Stare' in Italian â€Å"Stare† is used to talk about all things, from how you’re doing to where you’re at in Italy, so it’s best if you feel comfortable using this word in all its forms. What’s more, it’s an irregular verb, so it doesn’t follow the typical -are verb ending pattern. Below, you’ll find all of its conjugation tables as well as examples, so you can become more familiar with using stare. Definitions of Stare To beTo stayTo remainTo standTo be situatedTo liveTo be about to Stare in Italian It’s an intransitive verb, so it does not take a direct object.The infinito is â€Å"stare.†The participio passato is â€Å"stato.†The gerund form is â€Å"stando.†The past gerund form is â€Å"essendo stato.† Indicativo/Indicative​ Il presente io sto noi stiamo tu stai voi state lui, lei, Lei sta loro, Loro stanno Esempi: Sto bene, e tu? I’m good, and you? Maria sta buttando la pasta, ti fermi a pranzo con noi? Maria is about to cook pasta, are you going to have lunch with us? Il passato prossimo io sono stato/a noi siamo stati/e tu sei stato/a voi siete stati/e lui, lei, Lei à ¨ stato/a loro, Loro sono stati/e Esempi: Sono stata a Bologna ieri sera. I was in Bologna last night. Marco e Giulio sono stati davvero carini! Marco and Giulio were extremely nice! L’imperfetto io stavo noi stavamo tu stavi voi stavate lui, lei, Lei stava loro, Loro stavano Esempi: Che stavi facendo? What were you doing? Stavamo per partire quando ci ha chiamato Giulia. We were about to leave when Giulia called us. Il trapassato prossimo io ero stato/a noi eravamo stati/e tu eri stato/a voi eravate stati/e lui, lei, Lei era stato/a loro, Loro erano stati/e Esempi: Ho vissuto in Italia per 12 anni e non ero mai stato a Roma. I lived in Italy for 12 years and I had never been to Rome. Ero stato anche all’aeroporto, ma era gi partita. I also was at the airport, but she had already left. Il passato remoto io stetti noi stemmo tu stesti voi steste lui, lei, Lei stette loro, Loro stettero Esempi: Nel 1996, stetti a Londra per due settimane. In 1996, I stayed in London for two weeks. Stettrero ospiti a casa di Sandra durante il loro soggiorno a Milano. They stayed at Sandra’s during their stay in Milan. Il trapassato remoto io fui stato/a noi fummo stati/e tu fosti stato/a voi foste stati/e lui, lei, Lei fu stato/a loro, Loro furono stati/e This tense is rarely used, so don’t worry too much about mastering it. You’ll find it only in very sophisticated writing. Il futuro semplice io starà ² noi staremo tu starai voi starete lui, lei, Lei star loro, Loro staranno Esempi: Sà ¬, infatti, lui à ¨ malato, perà ² star bene fra un paio di giorni. Yes, in fact, he is sick, but he will be better in a couple of days. Starà ² pià ¹ attento, te lo prometto. I will pay more attention, I promise. Il futuro anteriore Io sarà ² stato/a noi saremo stati/e tu sarai stato/a voi sarete stati/e lui, lei, Lei sar stato/a loro, Loro saranno stati/e Esempi: Ho dimenticato di prenotare i biglietti? Sarà ² stato davvero stanco ieri sera. I forgot to book the tickets? I must have been really tired last night. Dov’era Giulia a sabato? Sar stata con suoi amici. Where was Giula on Saturday? She must have been with her friends. Congiuntivo/Subjunctive​ ï » ¿Il presente che io stia che noi stiamo che tu stia che voi stiate che lui, lei, Lei stia che loro, Loro stiano Esempi: Non so perchà © lui stia qua. I don’t know why he is here. Non penso che tu stia preparando abbastanza piatti. I don’t think you’re preparing enough dishes. Il passato io sia stato/a noi siamo stati/e tu sia stato/a voi siate stati/e lui, lei, Lei sia stato/a loro, Loro siano stati/e Esempi: Penso sia stato meglio cosà ¬. I think it was for the best. Credo proprio che siano stati accompagnati in taxi all’aereoporto. I really think they had been taken by taxi to the airport. L’imperfetto io stessi noi stessimo tu stessi voi steste lui, lei, Lei stesse loro, Loro stessero Esempi: Non pensavo che lui stesse alla festa. I didn’t know that he was at the party. Pensavo che stesse a dormire a casa tua. Sarei stato molto pià ¹ tranquillo! I thought she was sleeping at your place. I would have been a lot more relaxed! Il trapassato prossimo Io fossi stato/a noi fossimo stati/e tu fossi stato/a voi foste stati/e lui, lei, Lei fosse stato/a loro, Loro fossero stati/e Esempi: Se quel giorno fossi stato con lui, non sarebbe stato cosà ¬ triste. If I had been with him that day, he wouldn’t have been so sad. Se fossimo stati amici in quel periodo, ci saremmo divertiti un sacco! If we had been friends during that time, we would have had so much fun! Condizionale/Conditional​​ Il presente io starei noi staremmo tu staresti voi stareste lui, lei, Lei starebbe loro, Loro starebbero Esempi: Se io abitassi in Italia, starei meglio. If I were to live in Italy, I would be better. Se aveste finito i vostri compiti a quest’ora stareste al mare! If you had finished your homework, by this time you would be at the seaside! Il passato io sarei stato/a noi saremmo stati/e tu saresti stato/a voi sareste stati/e lui, lei, Lei sarebbe stato/a loro, Loro sarebbero stati/e Esempi: Sarei stata contenta se lui mi avesse regalato dei fiori. I would have been happy if he had given me some flowers. Non sarebbe stato possibile senza l’aiuto di Giulia. It wouldn’t have been possible without Giulia’s help. Imperativo/Imperative​​ Presente stiamo sta/stai/sa’ state stia stiano Stai zitto! Be quiet (informal)! Stia attenta! Pay attention (formal)!

Organization of the Federal Government of Canada

Organization of the Federal Government of Canada Canadian Federal Government Organization Chart A simple way to understand how the Canadian parliamentary system of government is organized is to take a look at its Organization Chart. Canadian Federal Government Institutions For more in-depth information, the Federal Government Organization category covers the major Canadian government institutions - the monarchy, governor general, federal courts, the prime minister, parliament, government departments and agencies. A quick way to find your way around the thousands of pages of information put out by the Canadian government is to use the Canada Online Subject Index to federal government departments and agencies. Once you find the relevant department, most government sites have a search function that will guide you from there. Canadian Federal Government Employees Another valuable piece of information on the Web is the Canadian federal government telephone directory. You can search for individual federal government employees, by department if you like, and it also provides useful inquiry numbers, as well as organization information. Continue: How the Federal Government Works Canadian Federal Government Operations Eugene Forseys How Canadians Govern Themselves is an important introduction to how government works in Canada. It covers the origins of the Canadian parliamentary system and its day-to-day operations, and explains the major differences between the federal and provincial governments in Canada. It also highlights some of the differences between the Canadian and American systems of government. Canadian Federal Government Public Policy For information on public policy and how it is made, try the Policy Research Initiative (PRI). The PRI was started by the Clerk of the Privy Council to strengthen public policy development and information sharing. The Privy Council Office, the public service organization that provides support to the Prime Minister and Cabinet, is a useful source of online publications and information resources on a wide range of current Canadian public policy. The Treasury Board of Canada Secretariat is another good resource for information on the inside operations of the Canadian federal government. Its Web site posts many of the policies and regulations covering human resources, financial management and information technology of the federal government. As an example, this is where youll find information on the Government On-Line Project, the federal governments effort to put its most frequently used services on the Internet. The Speech From the Throne opening each session of Parliament outlines the legislative and policy priorities for the government for the coming session of Parliament. The Prime Ministers Office announces major public policy initiatives introduced by the federal government. Canadian Federal Government Elections To get an overview of Canadian elections, start with Elections in Canada. Youll find additional reference information in Federal Elections, including the results of the last federal election, information on who can vote, the National Register of Electors, federal ridings and Members of Parliament. Continue: Federal Government Services The Canadian federal government provides many different services to individuals and to business, both inside and outside Canada. Here is just a small sample. For more information, check the Government Services category. Citizenship and Immigration Canadian CitizenshipInformation on becoming a Canadian citizen, including applications, test and fees.Immigration to CanadaInformation for those planning to come to Canada, including requirements, how to apply and visas. Contracts and Purchasing Selling to the Canadian Federal GovernmentThe information you need to get the federal government as a client.Government PurchasingAdditional information on both federal and provincial government purchasing policies. Employment and Unemployment Federal Government Employment ServicesGovernment services to help you find work, from job banks to labour market information.Canadian Employment InsuranceIf you lose your job in Canada, youre probably eligible for Canadian Employment Insurance. Heres how to apply and how it works. Retirement Canadian Government PensionsThe Canada Pension Plan (CPP), Old Age Security (OAS) and other Canadian government retirement, survivor and disability pensions.RRSPsOne of the biggest breaks youll get from the Canadian federal government. Taxes Personal Income TaxesInformation to help you complete your Canadian personal income tax return.Business TaxesCanada Revenue Agency information for business. Corporate income tax, Business Number, payroll deductions, importing, and exporting. Travel and Tourism Canadian Travel and TourismFederal government services including border protection, travel safety regulations, tourism offices, management of national parks and government funded museums.Canadian PassportsInstructions on how to apply for a Canadian passport.Canada Customs at the BorderCanadian government customs regulations and services when you or your goods cross the Canadian border. Weather Weather in CanadaEnvironment Canada provides weather forecasts across Canada, as well as safety information on extreme weather conditions and research on climate change.

Fact and Fiction About the Origins of Thanksgiving

Fact and Fiction About the Origins of Thanksgiving Among the origin stories of the United States, few are more mythologized than the Columbus discovery story and the Thanksgiving story. The Thanksgiving story as we know it today is a fanciful tale shrouded by myth and omissions of important facts. Setting the Stage When the Mayflower Pilgrims landed at Plymouth Rock on December 16, 1620, they were well-armed with information about the region, thanks to the mapping and knowledge of their predecessors like Samuel de Champlain. He and untold numbers of other Europeans who had by then been journeying to the continent for well over 100 years already had well-established European enclaves along the eastern seaboard (Jamestown, Virginia, was already 14 years old and the Spanish had settled in Florida in the mid-1500s), so the Pilgrims were far from the first Europeans to set up a community in the new land. During that century the exposure to European diseases had resulted in pandemics of illness among the natives from Florida to New England that reduced Indian populations (aided as well by the Indian slave trade) by 75% and in many cases more - a fact well known and exploited by the Pilgrims. Plymouth Rock was actually the village of Patuxet, the ancestral land of the Wampanoag, which for untold generations had been a well-managed landscape cleared and maintained for corn fields and other crops, contrary to the popular understanding of it as a â€Å"wilderness.† It was also the home of Squanto. Squanto, who is famous for having taught the Pilgrims how to farm and fish, saving them from certain starvation, had been kidnapped as a child, sold into slavery and sent to England where he learned how to speak English (making him so useful to the Pilgrims). Having escaped under extraordinary circumstances, he found passage back to his village in 1619 only to find the majority of his community wiped out only two  years before by a plague. But a few remained and the day after the Pilgrims’ arrival while foraging for food they happened upon some households whose occupants were gone for the day. One of the colonists’ journal entries tells of their robbery of the houses, having taken â€Å"things† for which they â€Å"intended† to pay the Indians for at some future time. Other journal entries describe the raiding of corn fields and of â€Å"finding† other food buried in the ground, and the robbing of graves of â€Å"the prettiest things which we carried away with us, and covered the body back up.† For these findings, the Pilgrims thanked God for his help for how else could we have done it without meeting some Indians who might trouble us. Thus, the Pilgrims’ survival that first winter can be attributed to Indians both alive and dead, both witting and unwitting. The First Thanksgiving Having survived the first winter, the following spring Squanto taught the Pilgrims how to harvest berries and other wild foods and plant crops the Indians had been living on for millennia, and they entered into a treaty of mutual protection with the Wampanoag under the leadership of Ousamequin (known to the English as Massasoit). Everything we know about the first Thanksgiving is drawn from only two written records: Edward Winslow’s â€Å"Mourt’s Relation† and William Bradfords Of Plimouth Plantation. Neither of the accounts is very detailed and certainly not enough to conjecture the modern tale of Pilgrims having a Thanksgiving meal to thank the Indians for their help that we are so familiar with. Harvest celebrations had been practiced for eons in Europe as thanksgiving ceremonials had been for Native Americans, so its clear that the concept of Thanksgiving was not new to either group. Only Winslows account, written two months after it happened (which was likely sometime between September 22 and November 11), mentions the Indians’ participation. In the exuberance of the colonists’ celebration guns were fired and the Wampanoags, wondering if there was trouble, entered the English village with around 90 men. After showing up well-intended but uninvited they were invited to stay. But there wasnt enough food to go around so the Indians went out and caught some deer which they ceremonially gave to the English. Both accounts talk about a bountiful harvest of crops and wild game including fowl (most historians believe this refers to waterfowl, most likely geese and duck). Only Bradfords account mentions turkeys. Winslow wrote that the feasting carried on for three days, but nowhere in any of the accounts is the word â€Å"thanksgiving† used. Subsequent Thanksgivings Records indicate that although there was a drought the following year there was a day of religious thanksgiving, to which Indians werent invited. There are other accounts of Thanksgiving proclamations in other colonies throughout the rest of the century and into the 1700s. There is a particularly troubling one in 1673 at the end of King Phillips war in which an official Thanksgiving celebration was proclaimed by the governor of the Massachusetts Bay Colony after a massacre of several hundred Pequot Indians. Some scholars argue that Thanksgiving proclamations were announced more often for the celebration of the mass murder of Indians than for harvest celebrations. The modern Thanksgiving holiday America celebrates is thus derived from bits and pieces of traditional European harvest celebrations, Native American spiritual traditions of thanksgiving, and spotty documentation (and the omission of other documentation). The result is the rendering of a historical event that is more fiction than truth. Thanksgiving was made an official national holiday by Abraham Lincoln in 1863, thanks to the work of Sarah J. Hale, an editor of a popular ladies magazine of the time. Interestingly, nowhere in the text of President Lincoln’s proclamation is any mention of Pilgrims and Indians. For more information, see â€Å"Lies My Teacher Told Me† by James Loewen.

The Nature Of Leadership Case Study Example | Topics and Well Written Essays - 750 words

The Nature Of Leadership - Case Study Example Such a situation arises from the complex nature of leadership. The only common thread that can be found is that the nature of leadership involves an influencing process and the consequences of this influencing process (Antonakis, Cianciola & Sternberg, 2004). It is for this reason the leadership definition that works for me is focussed on the influential nature of leadership and its implications. Daft and Lane 2008, p.4, define leadership as â€Å"an influence relationship among leaders and followers who intend real changes and outcomes that reflect their shared purposes†. Expanding on the term influence is a key reason for my choice of this definition. The nature of influence here is that it is not passive but active, and it is multidirectional, and without the element of coercion. Furthermore, the influence is not merely from leaders to followers, but is reciprocal in that there are times when the influence flows from followers to leaders. Moving on to another key ingredient in this definition of the intention for real changes, it implies that leadership does not accept a status quo situation, but aims for creating change. This striving for change is based on the shared purposes of the leaders and followers and not on the desires of the leaders. In real terms this means that the created change is towards a desired future state or purpose (Daft & Lane, 2008). This definition also brings us to the important aspect of leadership in that it cannot be present in the absence of followers and that followers are an essential to leadership (Maxwell, 1993). 2. Without followers there are no leaders. What is known about followers? The first thought that comes to mind when we talk about followers is sheep following the shepherd, implying that followers merely follow a leader. This is not essentially true, for there are many in the flock of followers that assist the leader in the influence of leadership, and demonstrate capabilities to become leaders in the future (Yukl, 2006). This perception of followers indicates that followers are made up of different types of individuals. Followers may be classified into five types of followers. The first type we may take as the sheep and they look up to the leader for directing them in all that they do. The second type of followers consists of those that keep saying yes all the time to the leader, or accept leadership influence without any outward sign of opposition and devout their energies towards accomplishing the direction of the leadership influence. The third class of followers consist of individuals that we may term as alienated. These individuals are capable of independent thought and action. The problem here is that they also possess a lot of negative energy that works to the detriment of the group, as the leadership influence is unable to get to them and they make no positive contribution to the shared purpose of the group, rather they work against it. Leadership influence that can remove the negative energy from these followers can convert them to extremely useful members of the group and the leader. The next class of followers are the fence sitters or those that we may term as pragmatists. These followers refrain from accepting the influence of leaders, till such time they are sure that the trend is favourable and then jump on the bandwagon, in the manner that trees sway in the direction of the wind. It is not that they have any opposing views or are capable of contributing positively towards the shared purposes. Self-preservation is of primary importance, and hence the wait and see attitude on the impact of the change influence that emanates from the leader. The final classification of followers may be viewed as star followers. They possess the same vibrancy as the