The Labelling Theory Movement Among Criminologist And...

INTRODUCTION Howard Becker is renowned as the person who established the modern labelling theory. Becker also developed the term moral entrepreneur to portray the person in power which campaign to make certain deviant behaviour outlawed (Becker, 1963). He suggests that most laws are founded on that basis, and the behaviour that is classified as criminal is ever changing. Thus, the criminal behaviour is impertinent to the labelling theory. What actually matters is which outlaws are arrested and processed by the criminal justice system (Becker, 1963). Due to the belief that societal and personal factors do not kick in as motivations for criminal behaviour, there has been little study of the aforementioned factors. This facet of Labelling Theory is still debated. Becker’s work has become the focus point of the labelling theory movement among criminologist and sociologists. In his introduction, Becker writes: ...social groups create deviance by making rules whose infraction creates deviance, and by applying those roles to particular people and labelling them as outsiders. From this point of view, deviance is not a quality of the act the person commits, but rather a consequence of the application by other of rules and sanctions to an offender. The deviant is one to whom that label has been successfully applied; deviant behaviour is behaviour that people so label. Society uses the religion to justify its moral action whereas the deviant actor uses it to justify hisShow MoreRelatedLabel Theory4470 Words   |  18 Pagescurious to know if the labeling theory was a useful theory. I have always considered the labeling theory to be a hard theory to measure. It is hard to measure if a label becomes the cause for a person to become delinquent. Is it the label or some other factors? This paper will go into detail about some of the main contributors to the labeling theory. It will explain how the contributors applied the labeling theory. This paper will also explain how the labeling theory grew into what it is today.Read MoreAn Essay Against Anti - Social Activities Not More Than 350 Words? Read More: Http: //Wiki.Answers.Coan Essay Against Anti Social Activities Not More Than 3505893 Words   |  24 Pagessocial problem in and of itself, pointing instead to the social problems thought to underlie it. Significant sections of the left, influenced in part by radical criminologists in the USA, challenged the panics - as they saw them - promoted by the so-called New Right. They questioned the official statistics on crime, challenging the labelling of deviants by agents of social control, and attacked the moral and political basis of these panics (6). Thus, the idea that crime was a broader social problem

Globalization Of The Amazon Forest - 1563 Words

Introduction It’s likely that the paper that this essay is printed on was produced in the Amazon forest, processed in a South American Factory and shipped on a German made ship to different countries. This is just one aspect of Globalisation. More globally globalisation reflects interconnectivity of markets, people and culture around the word. Today’s world is interconnected like never before, and corporations are trading, expanding, and employing across the continents. Multinational businesses are changing the way that the world works, having new and far-reaching impacts on their customers, business partners, geographical bases, and their suppliers – from established concerns to the independent farmer or craftsperson. The term globalisation is one that is used with ever increasing frequency as if it had a universally accepted meaning and definition. According to Modelski, globalisation is a historical process which is characterised by a growing engagement between peoples on all corners of the globe (Modelski, 2003, pp.55-59) The main aim of this essay is to explain the process of globalisation, and to critically analyse one business in which has been impacted by globalisation, I will be focusing on The Starbucks Company throughout this essay. The main case study which will be referred to throughout this essay is the worldwide brand Starbucks, which has become a global company as a result of globalisation. The essay will start by defining and explaining globalisation. ItShow MoreRelatedThe Heart Of Brazil : The Amazon Rainforest1178 Words   |  5 Pages In the heart of Brazil you will find The Amazon Rainforest. Covering an immense 1.7 billion acres, this broad-leafed rainforest is the largest of its kind in the world (McLendon). Forests alone cover a third of all land on our planet, contributing essential natural infrastructure to both humans and wildlife (Adams). Along with providing materials like timber, fruits, and fibers, each individual tree wo rks to clean the air, soil, and water while keeping the Earth cool and its inhabitants shelteredRead MoreDeforestation Is The Permanent Removal1714 Words   |  7 Pagesâ€Å"More than 80% of Earth’s natural forests have already been destroyed at the rate of 20,000 hectares per day† according to the World Resources Institute (WRI). Despite our dependence on forests for our means of survival, from the provision of livelihoods for us human-beings, the prevention of soil erosion, medicines derived from rainforest plants, to the air we breathe, we are still allowing them to disappear at shockingly high rates through deforestation. High deforestation rates, primarily as aRead MoreEconomic Globalization2238 Words   |  9 PagesIntroduction Economic globalization has become the most important feature and a general trend of present world economic development. Globalization is a phenomenon and also a process of development of mankind and human society (Hamilton, 2008). It is the essential feature of the modern age. Globalization is the cross-border flows of capital and goods, including capital, labour, technology and natural resources (BoÃ… ¼yk, Misala PuÅ‚awski, 2002). Economic globalization is a historical process, andRead MoreThe Globalization of Food Culture1483 Words   |  6 PagesThe Globalization of Food Culture The term â€Å"food culture† describes the entire cultural landscape of nutrition; everything that has anything to do with the way we eat, what we eat and where we eat. What we seldom realize are all the aspects food influences or is influenced by: â€Å"Food is used to: 1. Satisfy hunger and nourish the body. 2. Initiate and maintain personal and business relationships. 3. Demonstrate the nature and extent of relationships. 4. Provide a focus for communal activities.Read MoreGlobalization and Indigenous Peoples2929 Words   |  12 Pagesand/or hunting and gathering techniques), and non-urbanized. The impact of globalization on indigenous people What makes indigenous people special is that they are located in the places where the world’s scarce resources located as well. Thus, with a desire to gain the access to these resources, indigenous people are always the disadvantaged group. In this section, I will focus on several issues caused by globalization that impose undesirable impact on indigenous people. To facilitate world tradesRead MoreA Direct Link Between Globalization And Human Rights1146 Words   |  5 PagesI think it is obvious that there is a direct link between globalization and human rights movements, both governmental as well as NGOs. 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Due to the globalization and the fact that the entire world is connected with the global trading system, Multinational companies are extending their operations abroad because of the cheap products in exchange for cheap labor in order to achieve advantages such as new technologies that the market has to offer. These largeRead MoreCan Globalization Be Reversed1503 Words   |  7 Pagesfactory work was hard and the hours long, people chose it over subsistence farming as it lead to a better standard of living for themselves and their offspring. Bertha Black remembers her family’s move to a mill town: We all went to work, in the Amazon Cotton Mill and we all worked there all our lives. We were all anxious to go to work because, I don’t know, we didn’t like farming. It was so hot from sunup to sundown. No, that was not for me. Mill work was better. It had to be. Once we went

Aberlyn Capital free essay sample

Executive Summary The venture leasing deal that Aberlyn proposed to RhoMed is an innovative way for RhoMed, a start-up firm, to acquire financing without diluting its equity value and raising debt in the market. Management believes that the firm is more valuable than venture capital firms would believe, and debt financing would be extremely costly since RhoMed doesn’t currently have positive cash flow. For Aberlyn, the main benefits of the transaction are the interest payments paid on the lease and potential to sell the patent for a much higher value than the original $1 Million valuation by RhoMed. However, this is a rather risky investment for Aberlyn. If RhoMed defaults on its payments, Aberlyn uses the patent as collateral and must sell it in the market. Since the patent is highly individualized and therefore may not be commercially feasible, the patent is probably worth less than what Lulu’s valuation suggests. We will write a custom essay sample on Aberlyn Capital or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page RhoMed has limited options in terms of financing as the cost of debt and equity are both very expensive for start-up firms without positive cash flow. However, by going this route, they are risking losing the main driver of their business their patent. In order to value RhoMed as a whole we needed to make numerous assumptions, particularly on their future revenue streams, a huge driver for the valuation and share value, as our sensitivity analysis suggests. We believe that the revenue projections given in the case are far too optimistic. We projected our own descending annual growth rates for revenue and assumed that the firm reaches stability in 2004 and grows at the inflation rate of 3%. We estimated capex by using a constant percentage of revenue of 21% and we used our estimated capex to estimate depreciation. Based on these assumptions, the NPV for the value of the firm is about $19.5 M and with a share value of $3.45. To value the warrants we used the black-Scholes model and reached a call price of $180,915 in total or $2.63 per warrant. Alberlyn requires an implicit yield of 15-17% on firms characterized as â€Å"class 2.† To calculate the IRR for Alberlyn, we evaluated three different scenarios that could potentially occur. Case 1 assumes that RhoMed successfully makes all its payments and buys back the patent at $1 at the end of three years. This yields a 15% IRR. Case 2 assumes that RhoMed defaults on its payments and that Aberlyn then successfully sells the patent in the market in 1995. In order to find then  appropriate sale price we assumed an IRR of 15% and backed into the purchase price of $2,750,652. Case 3 assumes that RhoMed defaults on its payment and Aberlyn is unable to find a buyer in the market. This yields a negative IRR and an NPV of negative 950 M, nearly equal to the negative amount of the initial investment. Based on our analysis we think that Aberlyn should not go ahead with the venture leasing deal and that RhoMed should reconsider issuing equity instead. Costs, Benefits, and risks of the venture leasing deal to Aberlyn and RhoMed Aberlyn 1. Benefits: This is a relatively novel transaction where an intangible asset is leased. As a frontrunner, Aberlyn has first mover’s advantage allowing it to capture profits from this innovative financing approach, even in future transactions after RhoMed. Aberlyn has an incredibly qualified management team and utilizes its expertise both in the case of RhoMed and in future leasing transactions. The two main benefits are the interest payments paid on the lease and Alberyn’s higher valuation of the patent. Aberlyn is providing $1 Million in cash to RhoMed but values the patent at $5 Million. If RhoMed cannot pay the interest or the principal then Aberlyn can use the patent as collateral and sell it in the market at a premium. This means that Aberlyn should be able to recoup its investment even if things do not go according to plan. 2. Costs: Aberlyn might have to engage in costly litigation in order to defend against possible infringements on RhoMed’s patent. If other companies sense that Aberlyn is unwilling to pay the litigation fees necessary in order to defend the patent, other companies will use the technology for free, rendering the patent worthless. 3. Risks: A. Novel Transaction: Since this is a relatively novel approach, and since RhoMed does not have experience with external financing, there are multiple areas under the discretion of Aberlyn’s management, which can ultimately determine Aberlyn’s profitability. B. Low cash balance: A potential risk is that RhoMed does not have enough cash flow to cover the interest expense and principal payments. According to Exhibit 6, the cash balance in 1992 is 21,351, and the net cash flow is -37,783. Considering that the interest expense for 1993 is projected to be 27,000, the default risk should be  highly considered. C. Highly specified product: Since the patent is not commercialized and targeted towards the individual, there might not be a market at all for the patent. It could be that if RhoMed does not exercise the option to buy the patent back or defaults on its payments and Aberlyn can’t sell the patent in the market, it would essentially be stuck with the patent, an a sset that has no value. We calculated the NPV in this scenario and concluded that Aberlyn would essentially lose nearly its entire investment. D. Another potential risk that Aberlyn faces is they are only purchasing one patent, and many firms regard one patent as being far less useful than a patent that is part of a broader portfolio. The patent would be more highly valued if antibodies, proteins, and peptides had already been patented and included within the Antibody Delivery System. E. This patent may actually capture a smaller portion of the market share than Lulu believes; this is because the product is highly individualized and not commercially feasible. If it is difficult for this new technology to capture as much market share as is predicted by Lulu, then Aberlyn will have difficulty selling the patent if and when RhoMed cannot meet its payment obligations. Another reason why it may be more difficult for Aberlyn to sell the patent is that much of the patent’s value is derived from the fact that RhoMed’s scientists have a lot of expertise in the area they are researching. If another firm that didn’t have the same level of human capital necessary to realize the full value of the patent bought the patent then they might value it less. RhoMed 1. Benefits: RhoMed can continue on with its business activities while maximizing its control of equity. Without the deal, RhoMed needs to find external financing from places such as banks until its IPO likely around 1994. Since RhoMed is a new company with negative cash flow, limited resources, and limited partnerships, most external sources of financing will be costly. Further, RhoMed’s founders want to retain their equity. Since most other venture capital firms want 30% equity, Aberlyn’s offer is attractive. 2. Costs: While the costs of maintaining the patent, such as defending it, are shifted to Aberlyn, RhoMed still bears additional leasing costs, which are similar to a loan and include both principal and leasing  interest payments. Although this is a significant cost, this cost is much lower than what the cost of traditional debt financing would be for RhoMed. 3. Risks: RhoMed faces quite a few risks, the main one being that they could lose their patents or what they deem proprietary technology. If RhoMed defaults on either the interest payments or the principal, then Aberlyn keeps the patent. If Aberlyn sells the patent in the market, RhoMed will lose its competitive advantage. Overall, RhoMed is putting the highest value of their business at a substantial risk. Nevertheless, this deal is necessary for RhoMed because of limited financing options. Lulu Peckering’s Evaluation The patents that RhoMed developed for immunotherapy of cancer treatment is a novel approach that has not been conclusively demonstrated. Therefore, there is no current market making it hard to find comparable firms and challenging to project future revenues. The best way to get a relative sense of how profitable the company can be is to try to size the market and make assumptions as to how much of the market RhoMed can capture considering the strength of the patent and the technology associated with it. There are two things to consider with Lulu Pickering’s patent evaluation. First are some of her assumptions. We agree with her valuation of the market size at $735.4 M. However, the assumption that RhoMed can capture 20% of the market seems unrealistic especially considering that if a PET machine is available, it will probably be used over other methods. This implies that splitting the market share evenly between the five options is probably not feasible. I would argue that PET will capture 40% of the market. The fact that the product is very individualized and less commercially feasible makes it even more difficult to believe that RhoMed can capture a substantial portion of the market. Therefore, we claim that they can only capture 10% of the market. Using the same method as in the case, we reach a market size of $36.8 M. Dividing that by half to account for the other risks discussed yields $18.4 M. Based on a royalty rate of 5% over the fourteen year time period of the estimate, with the assumption that this is relevant to all types of cancer, this equals $9.2 M. The discount rate is a measure of risk. Because we accounted for some of the risk associated with this product by  cutting down the size of the market, we can use the 7.3% premium above the risk free rate given in the case (13.35%) as the discount rate over 14 years: $9.2 M/(1.1335)^14 = $1.6 M. Assumptions for FCF of RhoMed and Valuation (Appendix 1) Revenues for RhoMed: We believe the revenue projections for RhoMed in Exhibit 7 are too optimistic. The revenue projections between 1993 and 1994 jump nearly 1000% and while start-ups do grow rapidly at the beginning, this seems highly optimistic. Given RhoMed is in its start-up stage, we project descending annual growth rates for revenue. We assume that the firm reaches stability in 2004 and then peg the subsequent growth rate to inflation at 3%.1 Capex: Given the condition that RhoMed is in a capital-intensive biotech industry, we calculated CAPEX as a constant proportion of revenue. We assume the ratio of CAPEX/Revenue remains constant at 21% (as in year 1992) over the following years. Depreciation: To calculate the depreciation, we use CAPEX and depreciated with a consistent 11-year life using the straight-line method. This patent has a 17 year life span and most PPE have a five year schedule. Therefore we chose an average of those two times, 11 years, as the depreciation schedule for the patent. We were then able to calculate depreciation each year using a depreciation schedule (Appendix 3). Terminal Value: For TV, we used the constant growth method, assuming a constant growth rate of 3% and discounted it back one year to yield a 2004 value of $55,642,743 (Appendix 2). Risk-free rate/discount rate: We used the risk-free rate of the 10-year U.S. Treasury bonds at 6.05%, which we think best reflects the length of the project and added a premium of 7.3% as stated in the case which yielded a 13.35% discount rate. Impact of Warrants: We took into consideration the impact of warrants. Since the warrant coverage ratio is 10%, it means 1,000,000*10%/3.45 = 29,000 warrants can be exercised. Therefore, we added this number to the current total shares outstanding. Based on these assumptions, the NPV for the value of the firm is about $19.5 M. As this is an all equity firm, this is also the firm value, dividing that by the number of shares outstanding (5,699,747) results in a share price of $3.43 (Appendix 2). Assumptions for Warrants and Valuation Sigma: We used the industry average sigma, 68% (from footnotes in Exhibit 10). Risk-free rate: We used the 5-year U.S. Treasury rate of 5.05% as a benchmark, matching the time horizon of the warrants. Valuation: We calculated the value of the warrants using the Black-Scholes model. For the inputs of the B-S model, we used the firm value of $19.5 M that we calculated above as Y, $1.45 for the exercise price, 5,699,747 for the number of shares outstanding, as provided in the case. Number of the warrants is calculated by multiplying 1,000,000 by the warrant coverage 10%, and then divided by the exercise price. Using alpha=n/(n+m), P=alpha*Y and X=(1-alpha)*n*Xw, we derive all the inputs for B-S model. Inputting those values in the model results in: P=234,317, X=98,798 and the value of the warrants or the call price = 181,501 in total or 2.63 per warrant (Appendix 4). Internal Rate of Return for Aberlyn Aberlyn is looking for a 15-17% implicit yield on patents falling into risk class â€Å"2.† We evaluated three different scenarios that could potentially occur based on the benefits, costs, and risks discussed earlier. Scenario 1: Optimistic View In this case, we assume RhoMed would successfully make all the payments and exercise the option to buy back the patent for $1 (which we ignore in our analysis since it’s so small). Amortization of the patent at the assumed book value of $1 million uses the straight-line method and is zeroed out after the sale. This yields a 15% implicit yield (appendix). Scenario 2: Optimistic Default on payments, sell patent. In this case, we assume RhoMed failed to make all the payments either interest or principal or both, loses the option to buy back the patents, and loses the patents in general. We assume RhoMed would fail to make those payments at year 3 (since they borrowed $1 M they could at least make the payment for the first couple years) and thus Aberlyn would sell the patent in the market in 1995. Using Aberlyn’s required implicit yield of 15%, as case 1, we backed out the required sale price of the patent in 1995 = 2,750,652 (appendix). Scenario 3: Pessimistic In this case, we assume that RhoMed would not be able to make payments at year 3 and that Aberlyn will not be able to sell the patent in the market. As discussed above, there could be a situation where Aberlyn cannot find a market for patent and would be left holding an asset that ultimately holds no value. In this case Alberlyn has a negative NPV of $950 M, nearly equal to the amount of the initial investment (appendix). From Aberlyn’s perspective it seems that there is little upside to pursuing this route. They are essentially acquiring an asset that could be replicated by other firms and that is highly individualized, highly narrowing the market. As the sensitivity analysis shows, RhoMed’s valuation and share price are very sensitive to revenue streams (appendix). Even if RhoMed does make the payments, the revenue projections might be off and considered the difficulty in commercializing an individualized product, it seems even less likely that their revenue projections will be realized. While a $1M investment is not large, they could face the possibility of losing nearly entire amount as scenario three indicates. While RhoMed has limited options, this is also a risky approach for them because they are gambling the main driver of their company the patent. While the founders don’t want to dilute equity value, they might want to reconsider traditional equity financing. While this is an innovative approach to venture capital, we think it is risky for both parties involved and we would recommend that they reconsider. Appendix 1 – FCF_Assumptions Appendix 2 – RhoMed FCF, Share Price, Depreciation Schedule Appendix 3 – Depreciation Schedule Appendix 4 – Warrant Valuation Appendix 5 – IRR Calculation

Influence on Behavior of Attitudes and Emotions

How attitudes and emotions influence behaviors Attitudes impacts on our behaviors in one of two ways: they can directly trigger consistent behaviors, with minimal thought intervention. Secondly, attitudes guides behaviors following a period of deliberate and extensive processing or consideration, through what is known as the formulation of intentions.Advertising We will write a custom essay sample on Influence on Behavior of Attitudes and Emotions specifically for you for only $16.05 $11/page Learn More Individuals whose attitudes towards certain objects are well-established are also likely to possess evaluative summaries regarding the attitude object in question (for example, the extent of their liking or disliking the object). Consequently, it becomes quite easier for the individual to decide on the course of action to take (Shane Glinow, 2010). Therefore, such individuals have a higher probability of influencing their behavior directly. Peopleâ€℠¢s perception about certain attitude objects may be changed by attitudes due to their likelihood to pay more attention to certain aspects of an object consistent with the attitude. Attitude objects are likely to change with a change in the attitude of an individual (Aronson, Wilson, Akert, 2005). This is more of a bias process whereby the attitudes of people are consistent with the behaviors that they manifest. Stirred emotions results in a distorted perspective. Our focus shifts to the emotion, along with the stimuli which triggered the emotion. When this emotion is amplified in our minds, we tend to react in a rational way and subsequently, it motivates our behavior. For instance, we may fight when we have been angered, or even end up enduring an abusive relationship. Ways personality and values influence behaviors A ‘value’ is defined as a character attribute or emotional state that one desires to be defined by or live within (Shane Glinow, 2010). Individuals who v alue feeling in control are also likely to make behavioral choices that enable them to obtain the necessary emotional disposition. People who value being independent will most likely choose to adopt the choices that will allow them to achieve this goal. Although personality is often viewed at as a psychological construct, research also indicates that biological needs and processes could also affect our personality. Personality impacts on how we respond to the environment around us. In the same way, we act differently become our personalities are also different. A plan to increase employee motivation, satisfaction, and performance When a company adopts the right motivation techniques for its employees, this tends to unlock their potential. As a result, the company is more likely to witness improved employees performance, increased tenure, and a reinforcement of success-building behaviors (Aronson et al, 2005).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More To start with, there is the need for an organization to create the right opportunities to enables employees to succeed and in the process, earn rewards that will motivate them. A company can for example use the point-based accumulation strategy for retaining and rewarding employees. In addition, the plan adopted should blend well with the company’s objectives, culture, and the employees. The reward system adopted by a company should also be both inspiring and meaningful to the employees because this way, employees shall work hard to achieve the set goals and in the process, the company benefits from an increase in return on investments. The management should endeavor to understand the behavior of their employees and seek to influence behavior, as opposed to changing personalities, to reduce possible resistance. Organizations also need to ensure that they fully meet the lower-level needs of their employees. Em ployees also need to feel that there are unique and valuable. Consequently, managers need to exploit the pride of their employees. In addition, managers should form a habit of listening to the views raised by employees as a way of building their confidence. The managers should also delegate some of the decisions to employees. This way, they feel in-charge. This is likely to increase their confidence and productivity. Reference List Aronson, E., Wilson, T. D., Akert, A. M. (2005). Social Psychology (5th ed.). Upper Saddle River, NJ: Prentice Hall Shane, M., Glinow, V. (2010). Organizational Behavior. New York : Mc Graw Hill This essay on Influence on Behavior of Attitudes and Emotions was written and submitted by user Vivienne Wall to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.