Lamb to the Slaughter free essay sample

In this essay i will be telling you about Mrs. Mary Maloney, setting, plot and my conclusion. Has Roald Dahl created the perfect murder? Lets find out. First i will be writing about the setting. Roald Dahl describes the home as warm and clean, curtains drawn, two table lamps alight and two tall glasses, soda water whisky. He also makes Mr and Mrs Maloneys home sound like a very neat and cosy enviroment. He inclues very specific detail bu mentioning the ice-cubes that were used for the whisky. The house also sounds private as the curtains are closed, so no one could realy peak in. It just seems like the perfect home. You wouldnt expect anything extremely bad to happen. In the short story, we are introduced to Mary Maloney, a 6 month pregnant housewife who recently found out that her husband is going to leave her. Mary is a typical housewife, waiting on her husband hand and foot. We will write a custom essay sample on Lamb to the Slaughter or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page She loves him dearly, but as the story unfolds, we see that he does not share the same feelings. Mrs. Maloney, unable to handle the rejection, lashes out and kills her husband. We then see Mary’s character transform before our eyes and the once loving, dutiful housewife becomes a very devious, manipulative and cold hearted character. She manages to fool everyone maybe even herself. She comes across as a very quiet, innocent person, like she wouldnt harm anyone. Her skin was translucent. She devoted her whole life to her husband, but then something turns for the worse and Mary Maloney does something you wouldnt expect her to do. Im goign to give you a brief summary of the short story. Both Mr and Mrs Maloney live at home together. Mary Maloney is 6 months pregnant with Patricks baby. She expected it to be a normal day, but it wasnt. Patrick came home from work and he started acting un-easy around her. Giving her one word replies and telling her to just sit down and not make him a drink or anything to eat. He then finally tells her he is leaving her. She reacted as if he never said it and just carrie don as usual. She wnet to the freezer and picked up the first piece of meat she laid her hands on. A leg of lamb. She walked upstairs with it in her hands, walked up behind her husband and smacked him in the back of the head with this giant piece of meat. She then put it in the oven to cook. After the insidance, she went upstairs, got herself ready, and rehearsed herself to be fine, like everything was just normal. She came back from the shop and reacted as if someone had broke into the house and killed him. Mary Maloney phoned the police, as soon as they knew who it was, they were straight over. The police checked the house for clues, but there was none. The only evidence was the lamb. They carried on the investigation and got a statement from the man in the shop and Mary Maloney. She then lured them to eat the evidence. They ate the leg of lamb, they wont ever know who or how Patrick Maloney got killed. My opinion on the story was actually quite positive. I liked the way Roald Dahl created the perfect scenery, good characters, but the story had a twist. It made me more intreged in it. I enjoyed the strory a lot. But i dont think he created the perfect murder. I knwo its not a real story, but you cant get a perfect murder. Some way, you will get caught. Lamb to the Slaughter free essay sample Lamb to the Slaughter by Roald Dahl uses the literary devices of dramatic irony, foreshadowing, and imagery to depict a dark comedy by grasping the idea of a tragedy becoming humorous. There are multiple uses and examples of irony throughout this short story that relate to the idea of a dark comedy. One key quote of dramatic irony comes from the end of the book stating, Personally, I think its right here on the premises.? Probably right under our very noses. What do you think, Jack This quote here shows us as that the detectives have no idea that they are actually eating the evidence of the murder right then and there. We, as the audience, obviously know what is going on and by Mary Maloney chuckling at that statement shows us that Dahl turned something as horrible as murder into something that she laughs at in the end referring to the idea of dark comedy. We will write a custom essay sample on Lamb to the Slaughter or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Verbal irony is also represented in this piece of literature. When she goes to the market, she talks to the grocer and states, ? No, Ive got meat, thanks. I got a nice leg of lam, from the freezer.? (pg. 20) This is verbal irony because it shows that what she is saying is basically telling the grocer what she used for the murder of her husband. The irony here is amusing, knowing the fact that killed the supposed love of her life and can so easily lie about it. So again, the verbal irony really catches the tone of the dark comedy that Dahl is trying to capture here. Both dramatic and verbal irony relate to each other in the sense that the audience feels the ideas of a tragedy as something funny therefore, relating back to the overall picture of the piece of literate as a dark comedy in the short story Lamb to the Slaughter free essay sample The short story â€Å"Lamb to the slaughter† writer by Roald Dahl Is about a married couple named Patrick and Mary Maloney. In this story the husband betrays the vow of marriage; it takes place at their own house which Mary awaits her husband as he is coming home from work. As he comes home his wife senses something tragic that will happen. Patrick wanted a divorce and so they end up hurting each other, which appears to be a simple character vs. character conflict. Suddenly Mary ends up murdering Patrick with a frozen lamb that was suppose to be served as supper to nourish him. The police show up and the mood turns out to be suspenseful until the end of the story as Mary acts like nothing happened. With them theme showing Love and Revenge this leads the reader to not reject the Love shown towards others. After Mary murders Patrick â€Å"Patrick! How are you darling? †she said as she saw him laying on the floor (Mary Maloney, 15), it is clear from this quote that Mary didn’t seem to think that she has done something wrong to hurt him. We will write a custom essay sample on Lamb to the Slaughter or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In the very beginning Mary Maloney sounded like a Loving wife who would do anything for her loved ones. It is said that she has translucent skin, a soft mouth, placid eyes, and is described to be a perfect innocent housewife. This story clearly tries to teach the reader about Love, Revenge, and Betrayal. When Mary acts like nothing happened right after she has murdered her husband, the reader feels suspenseful. When the couples start hurting each other the reader ends up feelings tragic and ironic since the object that was used to be served as supper for Patrick, was actually the weapon used to murder him. Three of these moods the reader must have felt makes he/she think that if people are showing Love against others, never reject it as it could lead into a wrong path. In today’s society many people tend to start entering a relationship and most couples tend to get married. Knowing that there might be rejection and betrayal in the future, all of them should stay faithful and committed to each other. However, this story makes the reader realize that rejection and betrayal can lead to something gloomy. Although this story was a bit abnormal, couples would follow through from it’s lessons as of today.

UFOs essays

UFO's essays Unidentified Flying Objects (Commonly called UFOs) have been around since biblical times, one such famous case is Ezekiels Wheel, a sighting identified by a Christian prophet as a group of four angels joined at the feet descending from the heavens in a divine light. Sightings such as these are known today by UFOlogists as atmospheric phenomenon (AP for short) and account for the bulk of UFO sightings. Ezekiel's wheel can be seen every so often on a clear night, a solar flare of certain strength causes the Aurora Borealis to appear this way. Over 90% of the cases reviewed in the first study of UFOs by various U.S. government agencies and private interest groups have supported this fact. Ball lightning, meteorites, swarms of high altitude ice crystals and bright planets have all been misinterpreted as extraterrestrial aircraft silently pulsing through the sky. However, there has still been no explanation for the last 10%, and the argument still goes on today. Is it a new top s ecret military plane? Is it some sort of AP modern science cannot explain? Is it aliens from another planet? These questions cannot be answered as of yet. A veil of mystery surrounds UFOs, it was dropped 1969, when the U.S. officially declared its disinterest in the UFO phenomenon. However, the field of UFOlogy is persistent in its search for the truth, and the information it has yielded gives a good, objective view of the UFO phenomenon. The U.S. government has declassified a vast amount of documents pertaining to its three major studies of UFOs: PROJECT: SIGN, PROJECT GRUDGE, AND PROJECT: BLUEBOOK. These documents were classified due to various national security reasons, but were opened to the public following the Freedom of Information Act and have been the bread and butter of serious UFO research. As the study of UFOs continues into the 21st century, no solid, educated, credible, supported statement can yet be made about the ...

Business Studeis Market Analysis

In doing so Samsung would build a customer base, and if sales were to increase more intensive research could be carried out as to ascertain more ideas from customers for future products. Furthermore it is essential that Samsung meet their customer’s demands, this is so that the company can become more efficient, by doing so, waste can be eradicated and inadequacy also. Therefore costs can be lowered within Samsung, increasing the amount of profit that can be made, with the eradication of waste this also lowers marketing costs, as the amount of products needed to be marketed is lowered. Here it is therefore evident market analysis is essential as this allows Samsung to save money, optimising their profit margins. The success of the company in the case of meeting customer needs and becoming more efficient, relies mainly on that of market analysis which contributes to objectives in these areas being met. In addition, on the other hand market analysis is not always essential when achieving market objectives, this is clear as, in the case of Samsung their market and competitors are rapidly changing frequently, so therefore market analysis would be pointless and time would be wasted, time = money, thus meaning money would be lost on research which wouldn’t be useful in the long term for Samsung but merely the short term. This would therefore make it hard for Samsung to achieve its objectives. Samsung’s market is constantly changing and the demand for new products is constant. Not only is the market rapidly changing but competitors also – as stated, for example Samsung’s competitors mimic and undercut Samsung’s promotional offers and match their prices, thus meaning market analysis would not be the best option for them in achieving objectives, this would not allow Samsung to gain the best possible competitive advantage over competitors, but simply aid competitors in gaining the competitive advantage over themselves, the best way for Samsung to complete a market objective associated with profit would be to copy the actions of competitors and also use penetrative pricing to undercut them. Another reason why market analysis may not necessarily be the most effective way in achieving marketing objectives is that when retrieving research the retrieval of secondary research proves to be costly, although cheap it is often useless, and out of date, and in the case of Samsung’s rapidly changing market then the use of secondary data would certainly not be an option for consideration, this therefore results in Samsung basing their research solely on Primary research via that of customer feedback or questionnaires, which is the most costly of the two, however proves most effective when put into action and contributing to marketing objectives. In conclusion, in the short term I believe it is best for Samsung to use market analysis to its full potential to gain the competitive advantage needed, although costly it may pay off in the long run, however in the long run I believe that it will become costly though, as market research would need to be carried out on frequent occas ions in this case of Samsung and therefore would prove too costly for the company, and this money spent could be used elsewhere perhaps on the production of more products. Business Studeis Market Analysis In doing so Samsung would build a customer base, and if sales were to increase more intensive research could be carried out as to ascertain more ideas from customers for future products. Furthermore it is essential that Samsung meet their customer’s demands, this is so that the company can become more efficient, by doing so, waste can be eradicated and inadequacy also. Therefore costs can be lowered within Samsung, increasing the amount of profit that can be made, with the eradication of waste this also lowers marketing costs, as the amount of products needed to be marketed is lowered. Here it is therefore evident market analysis is essential as this allows Samsung to save money, optimising their profit margins. The success of the company in the case of meeting customer needs and becoming more efficient, relies mainly on that of market analysis which contributes to objectives in these areas being met. In addition, on the other hand market analysis is not always essential when achieving market objectives, this is clear as, in the case of Samsung their market and competitors are rapidly changing frequently, so therefore market analysis would be pointless and time would be wasted, time = money, thus meaning money would be lost on research which wouldn’t be useful in the long term for Samsung but merely the short term. This would therefore make it hard for Samsung to achieve its objectives. Samsung’s market is constantly changing and the demand for new products is constant. Not only is the market rapidly changing but competitors also – as stated, for example Samsung’s competitors mimic and undercut Samsung’s promotional offers and match their prices, thus meaning market analysis would not be the best option for them in achieving objectives, this would not allow Samsung to gain the best possible competitive advantage over competitors, but simply aid competitors in gaining the competitive advantage over themselves, the best way for Samsung to complete a market objective associated with profit would be to copy the actions of competitors and also use penetrative pricing to undercut them. Another reason why market analysis may not necessarily be the most effective way in achieving marketing objectives is that when retrieving research the retrieval of secondary research proves to be costly, although cheap it is often useless, and out of date, and in the case of Samsung’s rapidly changing market then the use of secondary data would certainly not be an option for consideration, this therefore results in Samsung basing their research solely on Primary research via that of customer feedback or questionnaires, which is the most costly of the two, however proves most effective when put into action and contributing to marketing objectives. In conclusion, in the short term I believe it is best for Samsung to use market analysis to its full potential to gain the competitive advantage needed, although costly it may pay off in the long run, however in the long run I believe that it will become costly though, as market research would need to be carried out on frequent occas ions in this case of Samsung and therefore would prove too costly for the company, and this money spent could be used elsewhere perhaps on the production of more products.

There is a body of litterature that proposes that customer ...... to Essay

There is a body of litterature that proposes that customer ...... to what extent do you believe this to be true - Essay Example (Skogland & Siguaw, 2004, p. 221) Research has shown that in the United States, customer defection is high; this means that customers will not return for a second purchase of the product from businesses or firms. U.S. corporations lose half of their customers over a span of five years resulting in 25 to 50 percent reduction of corporate performance. Companies invest millions of dollars in customer retention programs. Skogland & Siguaw’s (2004, p. 221) study cite Marriott who spent $54 million in 1996 on its Honored Guest program, while Hyatt invested $25 million in its loyalty program that same year. Research on customer loyalty has primarily focused on customer satisfaction and involvement. However, findings on the linkage between repeat-purchase behavior and satisfaction have provided mixed results. Some report significant links, while others are doubtful. In the past century, RM was a major trend and a controversial talking point in business management. Strategic competitive advantage could no longer be delivered with just product characteristics but with emphasis on satisfying customers. (Barnes, 1994, cited in Egan, 2003, p. 145) Relationship marketing (RM) and customer relationship marketing (CRM) are two interrelated subjects. â€Å"Relationship marketing is marketing based on interaction within networks of relationship†¦ CRM [includes] values and strategies of relationship marketing – with particular emphasis on customer relationships – turned into practical application† (Gummesson, 2002, p. 3). Relationship marketing was first contributed by Berry (1983) as a new rubric for services marketing, with insights in the 1980s pointing to service risk points in the customer relationship life cycle. In the 1990s, relationship marketing became a key marketing issue (Ballantyne et al., 2003, p.159-160). Due to constant changes in marketing, there have been departures from mainstream marketing

Provision of Customer Service within Intercontinental Hotels Group Case Study

Provision of Customer Service within Intercontinental Hotels Group - Case Study Example In accordance with Hoffman et al. (2008) customer services excellence can be achieved in modern organizations by focusing on specific sectors, such as: ‘competence, credibility, security, communication, responsiveness, accessibility and understanding’ (Hoffman et al. 2008, p.418). On the other hand, McNeill (1993) notes that customer services excellence means that ‘the organization is able to identify and fulfill the customer’s unique expectations’ (McNeill 1993, p.87). It is explained that the above target offers to the organization a competitive advantage towards its rivals who are able to offer to their customer only a series of standardized services. In the study of Christopher (2005) another approach is used for explaining the service excellence is used; in accordance with the above researcher the achievement of service excellence is depended on the ability of the organization involved to create ‘a market-driven logistics strategy’ ( Christopher 2005, p.65). Trying to explain the context of customer service excellence, Gallan (2008) supported that the specific term is used for referring to ‘service that meets or exceeds provider and customer expectations’ (Gallan 2008, p.30). It is made clear that customer services excellence can significantly help the development of organizational performance; however, the potential requirements of the specific initiative would be made clear ensuring that the risks for the organization involved are minimized. (Hoffman et al. 2008, p.418).  

Compositions Essay Example for Free

Compositions Essay My parents took me to Chidambaram on the occasion of the festival for Lord Nataraja. That festival occurs once in a year. The crowd was huge. It had come from all parts of India, and, in some cases, even from outside India. The crowd consisted of people from various states in India. It therefore, consisted of people from different walks of life. We saw people from Northern states of India, like, Uttar Pradesh, Rajastan, Delhi and many more. We also saw crowds from Great Britain and The United States of America. We found people talking in different languages. Some of the people found it difficult to make the local people of Chidambaram understand what they meant. So, they needed interpreters. As mentioned earlier, the crowd was not only huge, but consisted of citizens of various status and from various states. Some leader was delivering a speech. He did not belong to Tamil Nadu. Sometimes he would speak in broken language and then switch over to different language, which i too could not follow. The crowd was in no better position. So, there was commotion in the crowd because it could not understand what the speaker was talking about. When the crowd became restive, someone came on to the dias to do interpretation, but that did not also satisfy the crowd. Therefore, the speaker finished his speech and some one else came up the dias to deliver the speech. But, he too did not understand the local language well and there was a confusion again. This time the crowd became very restive and could not be controlled by the cops. When the situation appeared to be going out of control, the cops interfered and used water guns to disperse the crowd. When that too did not give the desired result, the cops naturally resorted to using bullets. The first fired in the air to terify the people. But, that did not yield the desired result. So they sprayed the crowd with actual bullets. This made the crowd retreat and some calm appeared to have descended on the crowd. So, this was a meeting which was well attended. But, it was attended by people from various states speaking different languages and having different life cultures. The speakers also did not do anything to pacify the crowd. As i said earlier, the crowd came from different states and spoke different languages, they could not understand what the speakers spoke, nor could others understand what they spoke.

Wealth of the United States Essay -- essays research papers

Wealth of the United States   Ã‚  Ã‚  Ã‚  Ã‚  There is a problem in the United States that is growing and is causing issues in our country, but not everybody knows about it. The problem is the distribution of wealth in our society and the world as a whole, and how it is getting worse. Some people would say that it is an inequality due to the needs of the society, while others would say it is to the needs or individuals. This causes even more problems because of there being more than one supposed reason for the issue at hand. The problem is that the distribution of power is possibly starting to be lopsided, and for many reasons. There are two main views of why this is happening, the functionalist perspective and the conflict perspective, and they differ in many ways on what is wrong, why it is wrong and what to do about it.   Ã‚  Ã‚  Ã‚  Ã‚  One of these groups, the functionalists, view that the uneven distribution of wealth is due to the fact that the cream rises to the top and the people who have money and prestigious positions are the ones who are capable of getting the job done. Functionalists see that there are 3 things that are intertwined with each other; wealth, power, and prestige. These three things are rewards for people who are of good character, eg: people with advanced knowledge, hard workers, and people who can take on responsibility. This whole perspective is more merit based than anything and tells people in the society that they get w...

Mammal classified

All living creatures are classified by a seven-level system.   The top level is kingdom, followed by phylum, and then class.   In this particular case, the system is animalia, chordata, and the mammalia, or mammals.   Mammals are animals which are warm-blooded, have fur, and live young.   They are classified further into 3 subclasses and then into 26 orders.   Mammals make up a significant portion of the visible species on earth, and include humans and all house pets. The first subclass is called Eutheria.   In includes these orders: Artiodactyla (deer, camels, pigs, cows, sheep, etc.), Carnivora (cats, bears, etc.), Cetacea (whales, dolphins), Chiroptera (bats), Insectivora (hedgehogs, moles, shrews), Lagomorpha (rabbits, hares), Perissodactyla (horses, rhinos, tapirs), Primates (apes, monkeys, lemurs, people), Proboscidea (elephants, etc.), Rodentia (rats, etc.), Sirenia (sea cows, manatees), Tubulidentata (aardvarks), and more (www.enchantedlearning.com).   These are the most familiar mammals to people, and it is also the largest subclass.   Other subclasses are Metatheria (marsupials) and Protheria. Each order contains a number of different animals, which are all similar to each other in certain ways.   For example, â€Å"artiodactlya† contains animals that have an even number of toes, while â€Å"perissodactyla† contains animals that have an odd number of toes.   Both classes are similar, in that they both have large animals.   â€Å"Primates† is possibly the most familiar class, and it contains humans and monkeys, which are very similar, in having body hair and opposable thumbs. Classifying mammals allows scientists to understand the features of the different groups.   While all mammals reproduce sexually and have live young, the gestational periods are different in different classes.   Knowing the differences helps to understand the different animals that scientists and people encounter. Mammal classifications are very helpful in understanding the similarities and differences between types of animals.   It helps scientists to understand and order the world around them, and is a useful and necessary system.   

American CEO Compensation is Immoral

Substantial evidence shows that American CEOs are better rewarded than their counterparts in European countries, and that this trend has been on a rapid upward growth starting from the last thirty years and only slowing down during global economic recessions. As expected this trend has drawn considerable arguments, with a lot of questions posed about what structures do American companies usually apply when commissioning such abnormal pay hikes and whether such structures are ethically and professionally justified.For instance, it can be loudly wondered whether the American CEOs deserve these high payments more than other CEOs elsewhere in the world. It can also be wondered whether they have more responsibilities than their counterparts in Europe and other continents alike. Well, the answers to these questions may draw all sorts of answers to the affirmative and/or otherwise.For purposes of this paper it is hypothesized that, the abnormally huge compensation packages given to American CEOs in the form of salaries, bonuses, stocks, options, or even termination packages is not morally justified given that most workers in America are still struggling with the agony caused by unemployment, ineffective social welfare systems, and increased costs of living. In tackling this seemingly sensitive issue, efforts will be made to represent both sides of the argument in equal measures and then finally a final verdict will be made in support of the study hypothesis.Theoretical Framework: Rogerian Argument Himself a psychologist, Carl Rogers advances a â€Å"rational† kind of approach especially when sensitive matters are at stake. He opines that a writer should first of all understand strive to represent his readers perspectives in his writings using the most neutral words there can be. He should also do the same when advancing his standpoint on an issue, particularly if such standpoint is not good news to his readership.His advices are that a writer should not adopt a n adversarial approach in presenting arguments rather he should adopt a seemingly neutral ground that will help to build sympathy and the desire to read more on the part of the audience. In fact, he reasons that a writer should not make a generalization as what his readership should believe of do, rather he should together with his readership struggle to finding and defending a neutral ground that will enable the readership to make their own personal decisions based on the fairly and factually resented issue.Using this practical method of argument this paper will seek to present the sensitive issue of executive compensation by delineating the issue in operational terms; agreeing on morality of increased CEO compensation packages; refuting the morality of the same; offering examples why increased CEO compensation packages is not morally justified, and; proposing a neutral compromise that pits the two positions equally acceptable to the audience. Research Problem Is it morally justifi ed to pay CEOs huge salaries while other employees are poorly rewarded?This paper intends to carry out an intensive study to investigate whether the evidential abnormal American CEO Compensation packages are morally justified. To achieve this, a range of existing literature on marketplace modalities governing employee compensation vis-a-vis ethical structures will be revisited. The literature collected thereof will be analyzed and systematically presented using the five principles of communication as advanced by Carl Rogers with view of advancing an opposition verdict.There is a general consensus that teachers are underpaid and their professions are under respected. Now what if I told you that presidents of colleges make a lot of money? And that they have been making more money since the recession even though campuses at large have lost classes and fees have been increased for students. Do you feel that the presidents for scholastic institutions should still get paid so highly? Well , it all boils down to the general perspective held by an individual. Most European countries believe in a more socialistic approach to president/CEO/executive pay.Their salaries represent a level of contentment and achievement that can be justified as being equal to their counter parts below them. Here in America, since the recession many Americans have been scratching their heads in wonderment as to why CEOs of companies such as CountryWide, BofA, and Goldman have been pulling in such large amounts compared to the rest of the workers. Brian Foley mentioned that many American CEOs make more money in one year than the median salaried worker makes in lifetime. Is this an injustice? Our European corporate counterparts see it as such.However many European companies move their base to America to reap the same rewards that American CEOs get, so what part of making such high pay makes it right? As a student and an intern at a finance company I feel that the corporate pyramid represents mo re of a stairway to heaven. I wonder what part of life, morality, and injustice to my coworkers must I face to reap the future rewards of possibly being a partner or maybe more? Should I work for the money as many Americans do instead of our European counterparts who work for contentment and the ability to provide security to their employees and others?With the on set of the recession American corporate pay structure has not only been heavily scrutinized by those who are not in the top of that structure, but has also been shunned upon by many other CEOs and Presidents all over the world. Greedy for money, unjustly leaning towards the welfare of Top executives, immoral for people who are unemployed because a CEO is unwilling to hire new members to keep his salary as high as possible; these are the ideas that resonate in newspapers.Although after being an intern at KKR Capital for one and half years and getting paid at 25 an hour, my sentiments are starting to be different. Background Information There is no doubt on the authenticity of the generalization that, CEOs in American corporations (profit and not-for-profit alike) are rewarded handsomely compared to what their counterparts in other countries particularly those in Europe earn. Consequently, significant debate on this seemingly sensitive issue has ensued among policy makers and pundits alike within and beyond the US borders.Tellingly, some of these loud voices in acknowledgement as well as those in opposition have got some elements of sanity in them. After all, common sense as well as sound work ethics holds that employee compensation packages should be pegged against performance meters. In their investigation on the patterns of executive compensation among â€Å"S&P 500, Mid-Cap 400 and Small-Cap 600 companies† between the period commencing 1993 to 2003, Bebchuk and Grenstein found out that indeed there has been a tremendous increase in remuneration packages for CEOs and top executives across maj or organizations in the United States (2).Their findings pointed out to a whopping mean compensation increment of 146 percent for CEOs in the S&P 500 category, the mean compensation for â€Å"top-five executives† also grew by a 125 percent margin from $9. 5 to $21. 4 for the same category. An increase from the $3. 7million recorded in 1993 to $9. 1 million recorded in 2003. Similar upward trend was also observed in the Mid-Cap 400 and Small-Cap 600 company categories.A comparison of the mean compensation increase between CEOs and the top-five executives indicated that CEOs were higher in 2003 when compared to 1993, an indicator that indeed CEOs compensation packages has grown over the years (2-3). Faulkender et al argue that CEO compensation in majority of the leading US organizations has soared to reach higher levels courtesy of â€Å"an explosion in stock option grants† and â€Å"flawed governance mechanisms in the pay-setting process† (110). Precisely, their data shows that the mean CEO remuneration package for S&P 500 corporations grew significantly from a low of $850,000 to $14 million between 1970 and 2000.For unexplainable reasons the growth dropped in 2002to $9. 4 million only to gain momentum again to hit the high of $13. 5 million between 2005 and 2007 (110). Again, it dropped in 2008 to $10. 5 due to the biting effects of the global economic crunch. [See appendices 2 for amore details] There is a huge discrepancy between CEO salaries and those of other employees. Trends show that the discrepancy has been on an increase starting from the last thirty years and only slightly dipping on few occasions due to the effects of unfavorable economic developments.As a matter of fact, unusually high salary packages have been ditched even on controversial circumstances to executives embroiled in management squabbles. In mind is the notable $210 million that was given to HomeDepot departing executive, Robert Nardelli and the $187. 5 million gi ven to NYSE departing executive Richard Grasso. In the list of the â€Å"most controversial compensation packages† issued to an executive is the former Tyco CEO, Dennis Kozlowski who was given a dispatch package of $5.1million worth of shares in the company and other shares from a subsidiary company worthy $81 million despite him being not cleared from fraudulent charges brought against his manner of management while serving as the company CEO (Faulkender et al). Morality in American CEO Compensation Kaplan (2009) argues that, the widely held notion that CEO compensation packages are abnormally high is nowhere near the truth, and that CEO compensation packages do not contribute to financial crises.He offers what seems like a set of well researched and analyzed data showing that CEOs are actually underpaid particularly when their compensation packages are juxtaposed against those of â€Å"hedge fund managers, investment bankers, private equity investors, money managers, and l awyers†. In fact, in 2007 S&P 500 CEOs earned relatively low salaries compared with what top hedge fund managers took home. In his well broken down analysis, he offers that the salary scales of other employee groups just as that of the CEOs has grown considerably since 1990s.Analytically, this is an indicator that CEOs are not riding on an abnormal or even unethical reward wave. Contrary to other studies on CEO compensation trends among American corporations, Kaplan concise research findings show that CEO salaries among major US S&P 500 companies only gained momentum in 2000and that since then the mean and median CEO compensation indexes has been on a stagnant as opposed to a growing trend. Even so, in what seems as a concurrence with other studies on the American CEOs compensation matter, Kaplan agrees that since 2008 the trend has been on a decline trend.Moreover, as opposed to the gross income trends entered in the prior decade, CEOs only made a small portion, three percent of the number of Americans making the top 0. 1 percent gross income in the 2004- 2005finacial year. That the S&P 500 CEOs only managed to account for about 0. 60 percent of the total income for Americans making the top 0. 1 percent gross income in 2006 as compared to 1. 2 percent registered in 2001, with indicators showing a likely diminishing trend in the future. According to Bebchuk, Fried and Walker any ‘rational’ human being including CEOs may be tempted to enrich themselves if given an opportunity to do so.They argue that, â€Å"When changing circumstances create an opportunity to extract additional rents–either by changing outrage costs and constraints or by giving rise to a new means of camouflage–managers will seek to take full advantage of it and will push firms toward an equilibrium in which they can do so†(cited in Gabaix and Landier 53). A case atypical to this postulation is the popular use of the stock option packages by CEOs to incre ase their benefits without undergoing the agony of facing shareholders vetting and/or wraths.Moreover, the behavior of the board members also gives CEOs a leeway to sneak in high incentives for their positions. Incomplete or ill-informed board members may fail in their duties to vet any salary increases on the part of the CEOs giving them a wide operating space. Some board members may also be lacking the needed powers to question CEOs compensation decisions; this is a case common in corporations with very powerful CEOs who tend to ‘manage’ the board. There is no direct link between financial crisis and high executive compensation.Though it is obvious that high remuneration packages may play a significant role in financial crisis engulfing companies such as the one witnessed in 2008, other more directly linked and more powerful factors are responsible. In mind is the weird banking regulation that leaves too much space for financial institutions to give out unsecured cred it facilities as well as the great leeway on the part of such banking institutions that accords them an opportunity to double as hedge funds.By fair terms these two factors are the ones to blame and not the hiked executive salaries given that the financial crisis was chiefly caused by high rates loan and mortgage defaulting. As a matter of fact, Faulkender et al (116) argue that executive compensation forms a very small chunk of the many causal factors of the recently ended financial crisis and that it cannot be blamed for all the woes engulfing the American banking industry. According to Grundfest executives of banks experiencing financial crises cannot be held accountable for causing the crises.In fact, he boldly offers the executives incentives cannot be blamed for financial crisis that hit the banking sector in 2008. This he defends by offering that the executives always give their best when it comes to managing their organizations and that they formulate strategies that are bas ed to the best of their knowledge and experience: â€Å"Sure, they were miserably wrong, but they didn’t know they were making a huge mistake that would cost them, their shareholders and taxpayers a huge fortune† (1).He defend this argument by reminding his readership that even the executives lost their investments in the form of stock they held in the banks. That the executives are also shareholders of the organizations they head, it is an indicator that they do not their own interests but that of the shareholders and that any eventuality of a great financial crisis is just normal in that it is not triggered by any commission or omission on the part of the executives (1).The high CEOs compensation packages among American public corporations are ethically justified. The competitive nature of the domestic market economy between privately owned equity firms and public corporations where private organizations offer very competitive pay packages to woe top executive with p roven performance track records. A case atypical to this argument is depicted by the mass exodus of top executives from public corporations to Wall Street based private equity corporations where they offer a range of executive advisory services (Kaplan 1).American CEO Compensation Immoral Is American CEO Compensation moral? I believe that it is immoral because compared to that of European CEOs, American CEOs get paid so highly and with the onset of the recession, this has been highly scrutinized. It is argued that executives who by capitalizing on the seemingly lax regulations on the compensation modalities go ahead and declare abnormal bonuses for themselves are result-oriented as opposed to rule-oriented.Lundberg and Montell proves this postulation by asserting that the growing trend on the part of executives to reward themselves with hefty salaries is occasioned by the market systems, particularly those based on commission basis or the popular â€Å"performance-based† remu neration. Analyzing a number of similar trends they argue that the performance-based salary perks erode the moral content among executives to the extent that they fail to link their actions as unethical but economically justified, given the huge profits they help make for the companies they head (2).Financial incentives are responsible for attracting all manner of personnel some of whom are only driven by the desire to reap from the huge legitimate benefits and if possible to use the seemingly ambiguous employee compensation regulations to achieve this in a quicker manner (Schwab 1). As a matter of fact, it has been argued that incentivized compensation packages are usually complex especially if large production processes are involved so that it becomes difficult in determining the â€Å"what, how much, who, and when† of production units awarded to individual employees.Such complex scenarios may tempt executives to overstep their powers and therefore increase their salaries. Moreover, though the performance-based compensation scheme is buoyed by the notion that highly rewarded employees perform better this is may not be the case in all situations especially if some of section of the employees is rewarded handsomely at the expense of others.Paying executives too much money is tantamount to immorally siphoning a large chunk of the overall profits that an organization makes and spending it on one individual instead of doing so on the large number of the shareholders who are in real sense the owners of such organization. This trend which has been witnessed in many financial institutions in the US has resulted in immense suffering on the part of the shareholders. It can be argued that these sufferings are threefold (Murali 1):First, from the poor decisions taken at the expense of the long-term viability of the company; second, through the payouts of excessive benefits for mediocre or poor performance; and third for the costs and settlements of any ensuing la wsuits, which were paid by the companies involved. Most importantly, these skewed compensation packages do not subscribe to any conventional capitalism rules. This is because it flouts the tenets of performance-based reward system as it does not make sense that American CEOs are the only hardworking executives in the whole world.As Murali summarizes it, â€Å"There is no way that the job of CEOs in the US has become 20 times more difficult than it was in Alfred Sloan’s day or 10 times more difficult than it was in the 1970s, and yet the packages suggest precisely that† (1). There is no doubt that the American government does not give much attention to executive compensation practices employed by major corporations operating the US. This has given much room to large financial institutions to engage in unprecedented reward systems that enrich top executives at the expense of the other cadres of employees and the shareholders.Such, reward system is not only selfish and im moral but it also highlights on the bred of CEOs running large corporations: as persons out to perpetuate their own agendas rather than that f the shareholders. Mitigation Measures It is true that in approaching the American CEOs compensation issue a lot of care and sobriety should be used. This is because there are both light and dark sides on the issue. The most certain solution to the issue seems to be legislation of strict regulations that will put limits to the amount of bonuses executives can award themselves.However, this need not be as plain as it is said; otherwise it will not be accepted by the majority. Americans needs fundamental economic legislations that will address a wide area of the puzzle including making the cost of living more affordable for the common American so as to mitigate the biting effect of economic of future economic crunches. Such legislations will ensure that the executive compensation packages are also fixed in accordance with the prevailing economic trends as opposed to the individual performance of a company.In regard to their â€Å"result-oriented and rule-oriented† analogy, Lundberg and Montell offer that result-oriented executives are most likely to disregard the moral fabric when compared to their rule-oriented counterparts. In this regard they opine that the performance-based incentive programs are a recipe for moral degradation on matters of employee compensation and that they only succeed in creating result-driven executives and not rule-conscious ones (Lundberg and Montell 2).It can therefore, be asserted that even in the presence of rules that fix executive compensation limits, there can never be a convincing assurance that the problem of abnormal compensation can be fully addressed given that, the inherent failure on the part of the result-driven executives to acknowledge the element of morality in following or even breaking the set rules. Again, the bonus pegged market structure where both short and long ter m bonus targets are included as part of competitive reward system to motivate hardworking employees, and to attract and retain talented employees’ only serves as a catalyst for breach of such rules (2-3).This postulation is supported by Schwab (1) when he says: While regulation is important for the future of the global economy, rules alone are not sufficient. The economy is not an independent or self-contained realm; the crisis has shown that the economy has to serve society. We have to be careful that the measures taken to curtail the crisis will not damage the power of innovation in the real economy. In mitigation it is hereby advanced that the realm of management should not be commoditized, rather it should be handled as a profession.This postulation is advised by the conventional wisdom that a profession just like a society is governed by â€Å"ground rules† and not monetary incentives. Such a scenario will accord all cadres of employees an opportunity to reap from the fruits of their labor in proportionate measures irrespective of their status in the organizational ladder. Most importantly, this â€Å"will create an unspoken social contract of trust to other members of society† (Lundberg and Montell 4). This postulation draws its impetus from similar sentiments shared by Schwab (1) when he generously offers that:When I had surgery a few years ago, I knew very well that my future quality of life would be dependent to a large extent on the qualifications of the surgeon. This is why I sought an expert who was the best in his profession. I naturally assumed that I was in the hands of a doctor who could apply his most professional skills without claiming that he would like to have a share of my future income – since, of course, this would be dependent on his knowhow – in addition to his remuneration.In this regard Reynolds offers that organizations should foster efforts toward the improvement of personal qualities such as edu cational qualification, work experience, as well, the propensity to embrace change. He argues that such efforts are capable of instilling the sense of morality among employees (241). Work Cited Bebchuk, Lucian and Yaniv Grinstein. The Growth of Executive Pay. Discussion Paper No. 51004/2005, Harvard Law School Cambridge, MA 02138, (2005). Faulkender, Michael, Dalida Kadyrzhanova, N.Prabhala, and Lemma Senbet. Executive Compensation: An overview of research on corporate practices and proposed reforms. Applied Corporate Finance, 22. 1. (2010). Co Gabaix, Xavier and Augustin Landier. Why Has CEO Pay Increased So Much? The Quarterly Journal of Economics, February 2008. Grundfest, Joseph. ‘What’s Needed is Uncommon Wisdom’, New York Times online, October 6, 2009. Kaplan, Steve. (Good) CEOs Are Underpaid, Harvard Business Review, Harvard Business School Publishing, June 15, 2009.Lundberg, Viktor and Christofer Montell. The effects of incentive compensation on moral awa reness: An explorative study. Master Thesis in Management Accounting, University of Gothenburg, School of Business, Economics and Law, 2010. Merchant, Kenneth, A. , and Wim A. Van der Stede. Management control systems: Performance measurement, evaluation and incentives. Essex: Pearson Education Limited. Murali, D. Pay should reinforce right tone at the top.July 8, 2010, accessed July 22, 2010, from: http://www. thehindu. com/ Reynolds, Scott. Moral awareness and ethical predispositions: investigating the role of individual differences in the recognition of moral values. Journal of Applied Psychology 91. 1 (2006); 233–243. Schwab, Klaus. Financial crisis is a chance for positive change. Times Online, Publ. 081104. Accessed on July 22, 2010, from: http://business. timesonline. co. uk/tol/busines/management/article5076011. ece/

Essay on Ayoder Janecasestudy 04122015

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