Financing Shipping companies

Financing Shipping companies There are several advantages for a shipping company to outsource a particular service or department. The main advantages with outsourcing are better cost control, lower risk and the outside suppliers expertise. Better cost control is achieved because outsourcing leads to less fixed costs and more variable costs. This means that the company in the short term is more flexible, and able to adjust costs faster and in some cases with less hassle. Outsourcing a service or department also lowers the need for an initial investment by removing the capital injection necessary for establishing a department/service. Less fixed costs and less long term fixed assets means lower risk for the company. In economical theory there also is an general opinion that outsourcing in many cases leads to cost reductions, due to a small internal department within the company not having the same degree of expertise as a bigger outside supplier and therefore not being able to deliver the services at a competitive cost. This lack of expertise compared to the outside supplier that specialises in the segment might also lead to a lower quality of service if the work is kept in house. With regards to expertise there also is a big advantage in that the company can keep focus on their core business where they have the necessary know-how and stay clear of outside disturbance. There are however also disadvantages with outsourcing. The main problem is loss of control due to the company not having the same supervision over the work being done. Another problem is that the outside supplier might not be able to adjust the service as well as an inside department after the companys needs at any given time. The degree of the advantages/disadvantages with outsourcing varies greatly with the complexity of the work that has to be done, the potential savings and the importance of in-house supervision. A certain degree of outsourcing of services will always exist i.e. transportation for a companys employees, postal services, big IT reforms etc. Solstad has decided to keep outsourcing at a minimum and integrated shipping operations are a part of the companys philosophy[1]. The company manages the total operation of the vessels[2], and have a large onshore support mechanism which includes freight, crewing, accounting, chartering, technical, and other administrative functions. The company is nevertheless open to outsourcing services and will evaluate whether it is possible to achieve more cost effective operations and an optimal return on capital employed in cooperation with new suppliers with a view to long-term strategic co-operations[3]. Such collaboration is also evaluated with regard to risk and capital injection. How has your company financed its vessels? Explain advantages and disadvantages by such financing. It isnt possible to find public information on how most of the specific vessels have been financed. However according to a news article in Skipsrevyen[4] about the acquisition of the M/S Normand Seven, the long term financing for that vessel is provided by Eksportfinans in cooperation with Nordea Bank, Fokus Bank and Danmarks Skibskredit AS. The companys balance sheet doesnt show in detail to whom the long term liabilities is owed, so to answer the question we will have to assume that the financing of the M/S Normand Seven is representative of how Solstad normally finances its fleet. As of the end of 2008 the company have long term fixed assets in vessels and new buildings of 7.289.858.000 NOK[5]. This equals just over 70% of the companys total assets of 10.213.357.000. The assets are financed with a total equity of 3.697.624.000 and total liabilities of 6.515.734.000. Out of the total liabilities long term loans to credit institutions/leasing obligations amounts to 4.831.208.000. In economic theory an equity ratio of 30 % is generally considered healthy, and the company also states in the annual report that the aim is to be financed by the owners (equity) with a ratio higher than 30 %. The total equity in percentage of total assets in 2008 was 36%, well above the companys goal. The companys equities are important when you need to raise capital from outside sources, as it may provide security for the lenders. Assuming that the financing of M/S Normand Seven is representative for the entire fleet the long term liabilities is provided by commercial banks like Nordea bank, Fokus bank, and Danmarks Skibskredit as well as government backed ship credit schemes like Eksportfinans. According to the annual report some of the fleet is also financed by leasing agreements. The advantages in getting mortgage-backed loans from commercial banks are that capital can be raised quickly and flexibly, while the owner is still left with full ownership of the business. The disadvantages by such financing is that commercial banks are uncomfortable with loans that are longer than 5-6 years[6] and often prefers to receive a balloon payment that might be difficult to handle for the shipping company. A leasing company is often more attractive if the borrower want longer finance than a commercial bank is willing or able to take onto their balance sheets. Eksportfinans also offers longer term finance than is usual for commercial banks, and offer repayment periods for up to 20 years[7]. Commercial banks normally take little risk and require a lot of security to protect their investment. According to the annual report[8] some vessels are placed as security for the mortgages. In addition, accounts receivables and bank deposits (2007) are tied. Solstads loan agreements are also subject to the owners working capital being positive at all times and that the market value of the vessels amounts to at least 110-125% of the outstanding loans. The company states that they satisfy all conditions of the loan agreements at 31.12.08[9]. Name three of the most important conventions your company must adhere to. Give reasons why those are among the most important ones. Solstad have ships registered in the Norwegian International Ship Register (NIS), Isle of Man Ship Registry (IOM), and the Norwegian Ship Register (NOR). Some of the criteria for NIS/IOM/NOR registered vessels are that they adhere to international conventions such as Safety of Life at Sea (SOLAS 74), Prevention of Pollution from Ships (MARPOL 73/78) and Standards of Training, Certification and Watch keeping (STCW 95) as well as other international regulations ratified by the flag states. Safety of Life at Sea (SOLAS 74) is the most important international treaty protecting the safety of merchant ships in the world. The first version of the treaty was passed as early as 1914 in response to the sinking of the Titanic.[10] It prescribed numbers of lifeboats and other emergency equipment along with safety procedures, including continuous radio watches. The intention had been to keep the convention up to date by periodic amendments, but a completely new convention was adopted in 1974. The convention regulates among other things use of the global maritime distress safety system, set construction criteria (subdivision and stability, machinery and electrical installations), fire protection/detection/extinction, obligatory life-saving appliances and arrangements, radio communications, safety of navigation etc. and is the centrepiece of maritime safety. Prevention of Pollution from Ships (MARPOL 73/78) is the main international convention covering prevention of pollution of the marine environment by ships from operational or accidental causes[11]. It was designed to minimize pollution of the seas, including dumping, oil and exhaust pollution. Its stated objective is to preserve the marine environment through the complete elimination of pollution by oil and other harmful substances and the minimization of accidental discharge of such substances. MARPOL contains 6 annexes, concerned with preventing different forms of marine pollution and covers pollution by oil, chemicals, harmful substances in packaged form, sewage, garbage and air pollution. The International Convention on Standards of Training, Certification and Watch keeping (STCW 95) sets qualification standards for masters, officers and watch personnel on seagoing merchant ships[12]. The aim of the convention was to introduce internationally acceptable minimum standards relating to training, certification and watchkeeping for officers and crew members. Today there are amendments concerning quality standards systems, oversight of training, certification procedures and rest period requirements. The amendments require that seafarers are provided with familiarization training and basic safety training which includes basic fire fighting, elementary first aid, personal survival techniques, and personal safety and social responsibility. This training is very important in ensuring that seafarers are aware of the hazards of working on a vessel and can respond appropriately in an emergency. Literature and references: Annual report (2008). Annual report 2008 Solstad Offshore ASA. Skudeneshavn. * Financial report (2009). 3rd quarter 2009 Solstad Offshore ASA. Skudeneshavn. Â · International Convention for the Prevention of Pollution from Ships (MARPOL) (1973). http://www.imo.org/Conventions/contents.asp?doc_id=678topic_id=258 International Convention for the Safety of Life at Sea (SOLAS) (1974). http://www.imo.org/Conventions/contents.asp?topic_id=257doc_id=647 International Convention on Standards of Training, Certification and Watchkeeping for Seafarers (STCW) (1978). http://www.imo.org/Conventions/contents.asp?doc_id=651topic_id=257 * Misje, M. (1989). Solstad rederi A/S 1964 1989. Skudeneshavn: Solstad Rederi. * Misje, M. (2004). Solstad rederi AS: 40 Ã ¥r 1964 2004. Haugesund: Nils Sund boktrykkeri. Presentation 3rd quarter (2009). Presentation 3rd quarter 2009 Solstad Offshore ASA. Skudeneshavn. Solstad Offshore ASA website. http://www.solstad.no * Stopford, M. (2009). Maritime economics 3rd edition. New York: Routledge. * Zachariassen, J. E. (2008, 21. April). M/S Â «NORMAND SEVENÂ ». Skipsrevyen. Eksportfinans website. http://www.eksportfinans.no/Bransjer/Skip.aspx [1] Annual report, page 2 [2] Annual report, page 13 [3] Annual report, page 13 [4] Zachariassen, 2008 [5] Annual report, page 26 [6] Stopford, 2009, page 284 [7] Eksportfinans website [8] Annual report, page 49 [9] Annual report, page 49 [10] International Convention for the Safety of Life at Sea (SOLAS), 1974 [11] International Convention for the Prevention of Pollution from Ships, 1973 [12] International Convention on Standards of Training, Certification and Watchkeeping for Seafarers, 1978

Child’s Healthy Development in School Essay

When people think of dramatic changes in children over time, they typically think about the first two or three years of life. Although these years are marked by striking changes, the developmental and social changes that occur between ages 6 and 14 are dramatic, as well. Imagine a six-year-old girl starting first grade—maybe she has braids in her hair and is wearing a cute dress; she looks like a little girl and she is likely to be quite excited about going off to school. Her parents still exercise great control over her comings and goings; their biggest worries are likely to be about her safety when crossing streets and about her adjustment to elementary school. Now imagine that same girl as a 14-year-old starting the ninth grade: She now looks like a full-grown woman, leading her parents to worry about the negative influences of peers, and the risk that she may come to physical harm during the many hours that she is away from home. Equally dramatic changes occur in the social contexts where youngsters spend time. A six-year-old boy is likely to be enrolled in a local neighborhood elementary school—perhaps within walking distance from home. By age 14, he will have changed schools at least once, moving into a junior high school or middle school. He may be looking forward to his classes, or he may have already psychologically turned his back on formal schooling. He may have sampled out-of-school activities from Scouts to basketball to handling a paper route. Because the experiences both boys and girls have in school and other activities will shape their development through this pivotal age period. Each period is marked by basic biological and cognitive changes, as well as changes in the social surroundings where children’s daily lives unfold. Exercising their growing autonomy in school and organized programs, children learn about the world outside the family, match themselves against the expectations of others, compare their performance with that of their peers, and develop customary ways of responding to challenges and learning opportunities. Through these years, they forge a personal identity, a self-concept, and an orientation toward achievement that will play a significant role in shaping their success in school, work, and life. Although researchers and policymakers have focused on the school as the critical arena in which development occurs and children’s futures are sculpted, out-of-school programs offer alternative environments in which children can learn about themselves and their worlds, and can discover opportunities for carving their own versions of success. Middle Childhood (6-8 years of age) Developmental Milestones Middle childhood brings many changes in a child’s life. By this time, children can dress themselves, catch a ball more easily using only their hands, and tie their shoes. Having independence from family becomes more important now. Events such as starting school bring children this age into regular contact with the larger world. Friendships become more and more important. Physical, social, and mental skills develop quickly at this time. This is a critical time for children to develop confidence in all areas of life, such as through friends, schoolwork, and sports. Here is some information on how children develop during middle childhood: Emotional/Social Changes Children in this age group might: * Show more independence from parents and family. * Start to think about the future. * Understand more about his or her place in the world. * Pay more attention to friendships and teamwork. * Want to be liked and accepted by friends. Thinking and Learning (Mental Changes) Children in this age group might: * Show rapid development of mental skills. * Learn better ways to describe experiences and talk about thoughts and feelings. * Have less focus on one’s self and more concern for others. Middle Childhood (9-11 years of age) Developmental Milestones Your child’s growing independence from the family and interest in friends might be obvious by now. Healthy friendships are very important to your child’s development, but peer pressure can become strong during this time. Children who feel good about themselves are more able to resist negative peer pressure and make better choices for themselves. This is an important time for children to gain a sense of responsibility along with their growing independence. Also, physical changes of puberty might be showing by now, especially for girls. Another big change children need to prepare for during this time is starting middle or junior high school. Here is some information on how children develop during middle childhood: Emotional/Social Changes Children in this age group might: * Start to form stronger, more complex friendships and peer relationships. It becomes more emotionally important to have friends, especially of the same sex. * Experience more peer pressure. * Become more aware of his or her body as puberty approaches. Body image and eating problems sometimes start around this age. Thinking and Learning (Mental Changes) Children in this age group might: * Face more academic challenges at school. * Become more independent from the family. * Begin to see the point of view of others more clearly. * Have an increased attention span. Young Teens (12-14 years of age). Developmental Milestones This is a time of many physical, mental, emotional, and social changes. Hormones change as puberty begins. Most boys grow facial and pubic hair and their voices deepen. Most girls grow pubic hair and breasts, and start their period. They might be worried about these changes and how they are looked at by others. This also will be a time when your teen might face peer pressure to use alcohol, tobacco products, and drugs. Other challenges can be eating disorders, depression, and family problems. At this age, teens make more of their own choices about friends, sports, studying, and school. They become more independent, with their own personality and interests, although parents are still very important. Here is some information on how young teens develop: Emotional/Social Changes Children in this age group might: * Show more concern about body image, looks, and clothes. * Focus on themselves; going back and forth between high expectations and lack of confidence. * Experience more moodiness. * Show more interest in and influence by peer group. * Express less affection toward parents; sometimes might seem rude or short-tempered. * Feel stress from more challenging school work. * Develop eating problems. Thinking and Learning ( Mental Changes ) Children in this age group might: * Have more ability for complex thought. * Be better able to express feelings through talking. * Develop a stronger sense of right and wrong. Changes in Social Surroundings The cognitive changes just described give children an expanded view of their social world and of themselves, providing the foundation for important social and emotional changes that also begin in these years. Along with their broadened exposure to adults and peers outside the family, children of these ages are typically given more freedom, more responsibilities, and more rights. This period is therefore marked by tensions between the new autonomy and the increasing expectations children encounter, which can either support or hamper the development of self-confidence. Broadening Social Worlds In the middle-childhood years, children spend less time under the supervision of their parents and come increasingly under the influence of teachers and activity Leaders such as Sunday school teachers, coaches of Little League sports, instructors of dance or ballet, music teachers, camp counselors, scout leaders. In contrast with the intimacy and familiarity that characterize family relationships, participation in school and formal programs exposes children to different Religious and ethnic groups, as well as diverse personal styles. They see adults acting in various social roles, and they see different adults acting in the same role—as teacher or camp counselor, for example. These experiences give children a chance to compare adults with one another and to observe how authority figures judge the behaviors and personalities of their peers. Increasingly, children spend time with their peers outside the orbit of parental control. Members of peer groups are responsible for managing their own relationships by controlling group dynamics, providing nurturance to each other, and sometimes establishing hierarchies within the group. As children get older, they also seek to contribute to their best friends’ happiness, and they become sensitive to what matters to other people. There is a beginning of a â€Å"we† feeling that goes beyond cooperation; children begin to adjust to the needs of others in pursuit of mutual interests. At the same time, of course, children are concerned with winning acceptance from their peers, and they must manage conflicts between the behavior expected of them by adults and the social goals of the peer group. Entering formal organizations such as schools and after-school programs represents a shift for children: In the preschool years, their social roles were defined for them at birth (as a daughter or a brother). In middle childhood, their roles in school, programs, and friendship groups reflect their personal qualities and achievements. 1. Developmental Variations: Behaviors within the Range of Expected Behaviors for That Age Group A) Developmental Variation : (Social Interaction Variation) Because of constitutional and/or psychological factors, children and adolescents will vary in their ability and desire to interact with other people. Less socially Adept or desirous children do not have a problem as long as it does not interfere with their normal development and activities. B) Common Developmental Presentations : Middle Childhood The child may not make friends easily and be less socially adept. The child may prefer solitary play at times. (Shyness) Adolescence The adolescent has limited concern regarding popular dress, interests, and activities. The adolescent finds it difficult to make friends at times. 2. PROBLEM: SHYNESS Middle Childhood The child is very shy, reticent, shows an increased concern about order and rules, is socially isolated, rarely initiates peer interactions, and prefers solitary activities to peer group activities. Adolescence The adolescent shows difficulty in social situations, has limited friendships, is socially isolated, may be a †loner,† prefers solitary activities to peer group activities, is reticent, has eccentric hobbies and interests, and has limited concern regarding popular styles of dress, behavior, or role models. Background Most people have felt shy at some time or in some situation. As many as 25% of high school and college students report having been shy most of their lives (Schwartz & Johnson, 1985). Excessive shyness, however, reduces both the amount and quality of social interactions a child has with others and results in lowered peer acceptance and fewer opportunities to acquire social skills. It is not clear why some children are bashful and withdrawing whereas others tend to be more outgoing. Several factors may be involved, including genetics, temperament, anxiety, and lack of social skills. Development Some degree of shyness in children is to be expected and is part of the child’s normal development (Berk, 1989). A fairly high percentage of preschoolers are described as bashful and avoiding contact with others (Schwartz & Johnson, 1985). Between 30% and 50% of school-age children report feeling shy (Peterson, 1987). When shyness is experienced by the child in many or most situations over an extended period of time, interventions to help the child interact more appropriately are called for. Chronic and severe shyness can have a negative impact on social, emotional, and academic development. Shy children often have poor self-concept, feelings of failure, and make negative self-statements. The anxiety that accompanies shyness impairs memory and concentration and may keep children from asking for needed help in school. What Can I Do as a Parent? It will be important for your child to learn ways to reduce his or her anxiety in social situations. If the child does not possess the social skills needed to interact with others, it may be necessary to teach social skills directly. The child also needs to learn to feel better about himself or herself as a person. There are many ways to accomplish these goals. Make sure your child knows that they are loved and valued regardless of their behavior or performance. Talk with your child. about their experiences and help them to evaluate those experiences in nonjudgmental ways that allow them to feel good about themselves. Many times children judge themselves much more harshly than we realize and blame themselves for situations and events they cannot control. As a parent, you can give your child more independence and opportunities to demonstrate responsibility. Successful handling of independence and responsibility will help to foster an improved self-image. A child’s image of himself or herself is built on a foundation of many small experiences. The more of those that demonstrate to the child that they possess the capability to succeed, the better the resulting self-image will be. Parents can seek out and provide activities that will allow the child to experience success in social environments. Structured group activities or small groups of one or two other children may facilitate success for the shy child. Parents can discuss, rehearse, and role-play activities with children such as introducing oneself, asking a peer to play, or joining a group of children who are playing a game. If the child is involved in a social-skills training program, parents can reinforce targeted social skills and provide opportunities for rehearsal of skills. If your child is severely shy and inhibited in most situations, the best course of action may include seeking professional help, either through the school, local mental health agency, or your family physician. Severe shyness affects many aspects of the child’s life and should not be left unaddressed. What Can I Do as a Teacher? Shy children may be easily overlooked in a busy classroom because they do not present classroom management problems and usually comply with instructions. Teachers need to be sensitive to the needs of shy children and facilitate their interaction with others and their participation in the class. Because shy children are often characterized by anxiety, it is best to avoid drawing attention to them or putting them in situations that will require that they be the center of attention. Structured interactions and small group activities may best facilitate participation by shy students. When children are to work on projects in small groups, the teacher should form the groups rather than allowing students to group themselves. Teachers can take this opportunity to pair shy youngsters with socially competent students who will serve as models for them. Teachers need to avoid reinforcing shy behavior, to be sensitive to the needs of shy children but to refrain from giving the shy child special attention or privileges. When shy children interact appropriately that is the behavior that should be reinforced. There is a natural tendency to either ignore or be overly protective of shy children, but neither of these responses benefits the child. Shy children should be encouraged to interact, provided with opportunities to interact in small, structured settings, and reinforced for interacting. Direct social-skills training and contingency management procedures have been found to produce positive results and may be beneficial for the entire class.

Jefferson Essay Essay

Thomas Jefferson played a very important role in the history of the United States. Jefferson is most famously known for writing the Declaration of Independence. Thomas Jefferson talked many times about African-Americans in America. Where they equal to white people? How were whites and blacks different? What about slavery? Thomas Jefferson had an opinion on all of these subjects, but much of what Thomas Jefferson said was later contradicted with his own words. What did Thomas Jefferson mean when he said that all men were equal? Well, many people would agree with what it means today in modern times. Today the statement, all men are created equal means; all men and women whether black, white, tall, short, fat, or skinny were all created equal. That is not necessarily what it meant in the 1700s. Blacks were enslaved and worked hard while wealthy white men did nothing of the sort. Justice Thurgood Marshall said, â€Å"The blacks were so far inferior, that they had no rights which the white man was bound to respect†¦ and that the Negro might justly and lawfully be reduced to slavery for his benefit. This excerpt shows that in that time blacks were not treated the same as whites and clearly did not have the same rights. Conor Cruise O’Brien’s book confirms this belief as he takes a quote from Thomas Jefferson himself: â€Å"It is accepted that the words ‘all men are created equal’ do not, in their literal meaning, apply to women, and were not intended by the Founding Fathers to a pply to slaves. † This shows that when Thomas Jefferson talks about all men being created equally he means to say white men. The meaning of the word expatriation is as follows; to leave one’s native country to live elsewhere (Merriam-Webster). Jefferson wanted to send the blacks that were descendent of the original slaves back to Africa. The deal here was Africa was no longer their native country. This act was known as expatriation. The southern courts believed that slavery violated the natural rights of blacks and although slavery was allowed and legal it was immoral and unjust. Thomas Jefferson made it known that he supported the abolishment of slave trading. He said the following to Congress; â€Å"withdraw the citizens of the United States from all further participation in those violations of human rights which have been so long continued on the unoffending inhabitants of Africa. † By this Jefferson means that the people of the United States should stop the enslavement of blacks so that they no longer violate the human rights and stop offending the people of Africa. In this way Jefferson’s reasons for promoting expatriation and understanding for the natural rights of blacks were consistent. He wanted to send the blacks back because he wanted to stop offending the people of Africa. Jefferson believed that blacks and whites were very different. He said that he believed that blacks were originally their own race and became distinct by time and certain circumstances. According to Jefferson blacks came from their own species but were from the same general genus that is the human race. He said that blacks were inferior to whites in mind and body. This can be said to mean that whites were possibly better looking people or that they were more fit. It could have been said to mean that whites were smarter than blacks because they had an education that the blacks did not have. Jefferson did not believe blacks were men. â€Å"Men,† was said to be referred to as only white men. Samuel Eliot Morison says in his book; â€Å"In his views (Jefferson) blacks were not men. † The possession of individual rights was mainly determined by one’s race or skin color. Blacks had no rights early on in the 1700s but began to become free in the early 1800s. A wealthy white male had all rights; he was allowed to do what he wanted so long as it was just. A black man was free and eventually gained simple rights due to the belief that the United States was violating human rights. I do not believe that expatriation could have been a helpful solution to the problem of slavery in America. I believe this because if the slaves would have gone to Africa they would be gone, but there is no saying that the lazy southern farmers would not have brought in slaves from other places. They would have gotten so used to not having to work that they would not be able to start working again. I think that they would possibly keep indentured servants as permanent slaves or enslave poor people. I’m sure that expatriation would not solve the problem of slavery, at least not immediately. As I stated in the beginning, Jefferson’s view changed greatly throughout the course of his lifetime. Later in his life he began to appreciate black people more because of all their hard work. Also, he realized that blacks were the same as whites in that they were to be given human rights and that the people of the United States had been violating their rights from the very beginning. Jefferson also saw that blacks were men, and that really God created all men equal, black and white. Thomas Jefferson certainly lived an intriguing life. He lived during a time where slavery was legal. He lived during a time when slavery began to die out. Jefferson was part of the reason why blacks are free today. Although his beliefs shifted throughout the duration of his life he ended on the good side, the side that was just. He began to believe that all men are created equal with a literal meaning.

The Theory Deontology, Consequentialism, And Virtue Ethics

2. Alternative that I chose Under all three theories – deontology, consequentialism, and virtue ethics, providing my customers all information that I was aware of should be the most appropriate course of action that I should perform. In this situation, I chose to do so, but I did not have an openly communication with my manager about my ethical dilemma. 3. Context In the past, as employees in an organization, we were expected to follow what our employers said without expressing our opinion. However, the age of social medial today brought us opportunities to speak up and broadcast when we see something wrong. This aligns the value on doing work with our personal values when we know our own values and how to giving voice to them. In order to beginning to voice values effectively, we should know ourselves, know our organization, commit to voice, practice, and look for openings, enlist allies. Knowing myself, I am an introverted person and I am not willing to share my opinion to others if I assume that they will not agree with me. When I face an ethical dilemma, I tend to struggle with it by myself before consulting with others. Therefore, I did not discuss about the unethical suggestion of my manager with him, but I decided to provide full information about the project to my customers. I know that my firm wants to create and maintain customer values, but it seems that the short-term benefits from the Thu Do JSC’s project diverted my firm’s goal from building and maintainingShow MoreRelatedEthics : Ethics And Ethics1468 Words   |  6 PagesIn Normative Ethics there are three distinct schools of thought, and each differentiate through moral intentions. Consequentialism relies on the consequences of an action in order to distinguish whether or not something is morally acceptable. Deontology considers the morality of an action by one’s reason for doing a certain deed. Lastly, virtue ethics bases morality off of virtuous character, and how a virtuous person would act given a certain predicament. Ultimately, consequentialism provides theRead MoreDuty Ethics And The Professional Military Ethic822 Words   |  4 Pagesdistinct ethical theories have come to dominate the contemporary debate: outcome ethics (or consequentialism), duty ethics (or deontology) and virtue ethics. Passing under criticism these three concepts allows evaluating my own philosophy and comparing its compliance to the professional military ethic. Duty ethics or deontology assesses all actions based on a series of rules. This concept views the morality of any action from one angle, the respect of rules. On other words, duty ethics is the set ofRead MoreComparing Political Philosophy Theories1095 Words   |  5 PagesAssociate Level Material Ethical Theory Comparison Chart Respond to the prompt for each of the five ethical theories listed. One section on each chart has been filled in as an example. What is good? (1–2 sentences) Aristotle – Virtue EthicsMill – UtilitarianismKant – DeontologyConsequentialismNodding – Care Ethicswhat would you say is our principal or highest objective by nature? According to Aristotle, it is the attainment of happiness, for it is that alone that we seekRead MoreThe Similarities and Differences Between Different Ethical Theories651 Words   |  3 PagesDifferences in Ethics: The main aim of any ethical theory is to do what is right and good since it involves moral rules or acting based on specific ethical values. In certain cases, the right and good as well as the ethical rules and values are sometimes common to various ethical theories. Even though ethical theories have different reasons for application, there is an overlap in these theories that result in similar conduct in an ethical situation. There are various ethical theories with differencesRead MoreAn Act Of Law Is Just Or Unjust1312 Words   |  6 Pagespeople. There are three schools of thought that are used in order to determine certain legislations. The legislation has to be just, or has to reach a form of justice. These three schools of thought which address justice are deontology, utilitarianism, and virtue-based ethics. A common question has been asked, â€Å"What is justice?† According to Chapter V of John Stuart Mill’s Utilitarianism, justice supposes two things—a rule of conduct and a sentiment which sanctions the rule. The first must be supposedRead MoreVirtue Ethics : A Theory Of Morality1448 Words   |  6 PagesVirtue Ethics is a theory of morality. It only takes into account the individuals themselves when distinguishing morality. As defined in the Stanford Encyclopedia of Philosophy, Virtue Ethics is the theory that â€Å"emphasizes the virtues, or moral character, in contrast to the approach which emphasizes duties or rules (deontology) or that which emphasizes the consequences of actions (consequentialism).† It is because of it’s seemingly â€Å"rule less† structure that the theory has shown appeal. Virtue ethicsRead MoreEthic Essay651 Words   |  3 Pages1 Virtue Theory, Utilitarianism, and Deontological Ethics. Judith Glowinski ETH/316 - 4/16/2013 MARY CARTER 2 When comparing the similarities and differences between virtue theory, utilitarianism, and deontology we find that they all deal with how one judge’s morality and ethics. These theories all include judging in different aspects, whether it is in the moment, what happens after, or over a lifetime. The ethics and morality behind these theories all deal with what is rightRead MoreConsequentialism And Consequentialism : Virtue Ethics, Consequentialism, And Deontology1200 Words   |  5 PagesEthics is a study dealing with standards that prescribe rules on what people ought to do based on various criteria such as obligation, human rights, and virtue. More precisely, it is a development and establishment of one’s moral principle. And under the normative ethics, there are three categories of ethical frameworks: virtue ethics, consequentialism, and deontology. In this essay, I will more concentrate on consequentialism, especially utilitarianism, and deontology to make co mpare and contrastRead MoreMost Frequently Used Approaches to Normative Ethics697 Words   |  3 Pagesï » ¿The three most frequently used approaches to normative ethics are, in no particular order of importance, virtue theory, deontology, and utilitarianism (Hursthouse, 2012). As such, there are a number of inherent differences and similarities that exist between these philosophical approaches to determining what sort of behavior constitutes that which is moral. In fact, the relevance of all three philosophies to the determination of action that is deemed ethically sanctioned is the chief similarityRead MoreTaylor faces a predicament regarding her lumberyard business and employees due to competitive900 Words   |  4 Pagesregarding her lumberyard business and employees due to competitive pressures. She may have to make a choice to save her business, which would be at the cost of her employee’s welfare. Therefore, in this paper we will explore through the various ethical theories and help Taylor adopt an ethical decision that will save the future of her business and employees. The main ethical dilemma is that Taylor likes to pay her employees a higher wage so they are able to live a comfortable lifestyle. However