Church Split During Middle Ages free essay sample

Ultimately, the cause of the Great Schism of 1054 was a question of who was the highest authority. The underlying reasons why there was a split, however, developed in earliest beginnings of the Church. In those days the Church was never completely unified, and several of the original organizations, such as the Coptic Orthodox and Oriental Orthodox Churches, which date from ancient times, still exist as separate entities. By far, the largest body of the Church was the one centered in Rome, which from ancient times was made up of two main groups of people, one speaking Latin and one speaking Greek. Latin was the language of the administrative center in Rome. Greek, however, was the original language of much of the New Testament. The linguistic difference was part of a foundation of a split that developed more, and not always for reasons that had anything to do with religious doctrine. Like the Church, the Roman Empire was divided between Latin and Greek areas, and the common understanding of this is skewed. We will write a custom essay sample on Church Split During Middle Ages or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The date we are accustomed to assign to the fall of the Roman Empire was not actually the date of a sudden destruction of a country. In fact, what happened that year was the abdication of the last emperor of the Roman Empire of the West, with authority being reunited in the hands of the emperor of the Roman Empire of the East. And in theory, the Roman Empire continued with what we call the Byzantine Empire today, but what called itself the Empire of the Roman People at the time. For group of people in the East, who considered themselves the rightful administrators of law and Justice, to admit that they had lost control over the West was difficult enough, but in addition to that, the popes were demanding that they acknowledge the spiritual leadership of Rome, with increasing demands for political leadership as well. When Pope Leo Ill crowned Charlemagne Emperor of the West, in 800, it was not a religious issue, but it was a political issue that made the Greeks very upset. From the Greek perspective, Charlemagne and the Pope were usurping the authority of Empress Irene, who was ruling the empire at the time. When Emperor Michael Ill deposed the Patriarch Ignatius of Constantinople in 858, the Pope, Nicholas l, declared the action illegal and acted on his own authority to return Ignatius to his position. This caused further problems, and this time it was within the Church itself. In 1014, the Pope again tried to exert authority over the ishops of the East, interfering in a change they were making to the to the Nicene Creed. Right or wrong, this created more strain. The time of continual, simmering resentment continued, as the Popes continued to try to get the Greek bishops to accept the supreme authority of Rome, and the Greek bishops always tried to avoid doing this. Finally, in 1054, a group of legates excommunicated the Patriarch of Constantinople because he would not take an oath to acknowledge the supremacy of the Pope, and he retaliated by excommunicating them. Church Split During Middle Ages By brandyHK

Islamic Finance Research paper free essay sample

Islamic Finance is a financial system that doesn’t work like other conventional banking systems. It follows the Islamic law, Shariah, which doesn’t allow certain aspects of a normal banking system such as usury and speculation. There are some main principles to be followed in Islamic banking. First of all, it prohibits interest, or Riba. Riba is forbidden in Islam, and therefore Islamic banking system adopts the principle of profit and loss sharing. It also prohibits uncertainty, gambling, and prohibits certain products and industries such as alcohol and tobacco. Islamic Finance needs to be in accordance with the Shariah. All products and contracts follow Islamic principles that conventional financial systems do not, such as interest and risk sharing, and uncertainty. Conventional financial systems have never worked this way and it worked for them for many years until they were hit by the financial crisis. The crisis had a minimal impact on the Islamic financial systems because they did not comply with all the factors that created the crisis in the first place. There were 3 main factors in the creation of the financial crises. First, subprime loans, which was lending to certain people who did not have a good credit history and were bound to default. The banks than charged them with higher rates that increased their risk of defaulting. Secondly, there was securitization, which was creating securities from un-liquid assets. This process is used by banks to create securities from loans and other income producing assets, and then these securities are sold to investors. Finally, it was the credit default swaps that increased the effect of the crisis. There would be many different people having an insurance on the same house (for example both the lender and the borrower), which makes it that insurance companies at one point would have to pay more than the amount of just the house. In the case of the crisis, we can say that the Islamic banking systems would have avoided it. It would be a more suitable system in the sense that all of the reasons above that were the cause of the crisis, would not have been done if all the systems were Islamic. With a good implementation of profit and loss sharing, Islamic finance promotes fairness. Subprime loans would not have been allowed, and credit done with profit loss sharing would have avoided having so many people taking loans and defaulting in the first place. In Islamic finance, assets should back up all loans. Finally, Islamic finance is against insurance companies. They use another way where a group of people will all pitch in and put some money together in case someone loses their home or something important. In this case, people are helping each other and promoting safe economic needs. With an Islamic system, credit default sways would not have occurred because insurance companies are not allowed. So this 3rd effect on the crisis, which actually made things worse for everyone, would not have occurred. Islamic Finance is a system that could have avoided the financial crisis. Following the Shariah, there are many laws and regulations that are in fact for the benefit of the whole. The only problem is that we have been used to the conventional system and all of its principles and ways of working. The Islamic system seems harder to understand and to work with, especially for non-Muslims who do not have the same beliefs and therefore do not see why they should comply with it. Even Muslim believers, who follow the Shariah for their everyday life, do not all use an Islamic banking system. The benefits of this system do not look appealing at first, compared to the conventional system everyone is used to working with, but when you think about it, this new system could have avoided many troubles people are facing today because of the crisis. Maybe the crisis would have still occurred, but it wouldn’t have hit as hard. The current global financial crisis, also called the subprime mortgage crisis, has been the worst kind of crisis since the Great Depression. It started in 2007, with the collapse of many financial companies in the United States. The crisis started with people buying expensive houses they could not actually afford. It was an easy time to get a loan for housing. This caused the price of houses to increase, and financing firms gave subprime loans to borrowers who did not have a good credit history. The crisis did not only affect mortgage credits to risky borrowers, it also affected the banking and financial system. It has shown that conventional finance is vulnerable. Such a financial crisis would not have happened under the Islamic finance, due primarily to the fact that Islamic finance complies with Islamic laws, Shariah. Shariah prohibits most, if not all of the factors that contributed to starting this crisis. These factors include: negative relationship between borrowers and lenders, faulty and risky behaviors, asymmetry of information, and actions who lead to a deliberate underpricing of risk. With the crisis, Islamic finance is presenting itself as being a more reliable alternative to the conventional financial system. Islamic Finance is an expanding industry that is sustaining a secure and steady growth. The concept of Islamic finance started only 40 years ago, and was able to remain positively steady throughout the current financial crisis. Eventually, it is starting to appear more efficient and capable of bringing stability to financial systems. Economists and financial experts all agree upon the causes of the crisis, however finding solutions to the crisis is proving itself to be very difficult. Some think the market will repair itself on its own, others believe governments should intervene in the markets. For now, there is no long-term solution and no guarantee that an identical crisis will not happen again in the future. The only think that can be seen is that the crisis has shown that markets are not always efficient on their own. The aim of this paper is to try to find an alternative that would be able to bring back stability to financial markets. We will be analyzing Islamic finance principles and doing a cross-section with causes of the crisis in order to show how the crisis could have been prevented under an Islamic financial system. The Islamic finance industry is prosperous, with a market representing about 1000 billion dollars. Islamic finance is developing due to an increase in Muslim populations who are looking for Shariah compliant products, and also due to the efficiency of their products and their good performance in financial markets. For many, choosing Islamic finance is part of making ethical choices and having such values as trust, which is lacking these days in conventional finance. Under Islamic finance principles, it is forbidden to invest in sectors such as alcohol and gambling, and interest and speculation are prohibited. Investments are limited to such things as tangible assets, which makes it more secure. Islamic finance is going through annual growth rates of up to 20%, making it one of the fastest growing sectors in the finance industry. Both Islamic finance and the conventional financial system are there to assemble resources and allocate them into investment projects, but the basic principles behind Islamic finance are very different from those of the conventional system. The conventional system is much more based on making profit than the Islamic system. Islamic finance is primarily based on the principles of Shariah, which is a set of Islamic laws, which govern Muslim life. This system tries to assure that their financial products are compliant with the principles of Islam and its ethics. There are 6 basic principles of Islamic finance. 1. The prohibition of riba, which is interest or usury. In Islam, interest is prohibited and it is seen as wrongful earnings. 2. The prohibition of gharar, which is uncertainty. This means there should be no asymmetry of information and full disclosure in a contract. 3. The prohibition of investing or financing any sinful activity such as alcohol, pork, prostitution, and gambling. 4. Sharing profits and losses, which is risk sharing. The profits and losses are to be shared by all the parties in a financial transaction. 5. Materiality, which means all financial transactions need to be linked to a real economic transaction. 6. All financial transactions should not lead to the exploitation of a party. The financial crisis is associated with easy credit, debt, and speculation. Below is a table of the main factors that caused the current financial crisis: Its quite difficult to decide on one main factor that caused the crisis, but one of them is the bad lending decisions made that were driven by the need of higher profits. This was facilitated by the fact that government regulations were absent. This new way of lending was practiced for an extended period of time and caused damage to both lenders and borrowers. The question is why did banks change their lending norms even though they were aware of the risks and damage it could cause? Chapra explains that they were motivated by three leading factors which are lack of profit and loss sharing between lenders and borrowers, too big expansions in the size of derivatives such as credit default swaps, and finally the assurance that the central bank would help banks out in order to avoid a collapse. Every economic crisis is usually caused by bad credit. It starts with low interest rates, which attracts more customers for loans, and when the interest rates increase the loans arent repaid. For the borrowers low interest rates made it more affordable to get houses, which increased the demand. On the other hands, banks whose only motives where to make profit decided to make it easier for people to get loans. The problem got bigger when banks started to sell their customers on subprime loans, and when default risk started to be transferred by the creation of new complex products. Many Islamic finance experts believe the global financial crisis is especially due to the failure of morality and ethics, which is mainly caused by greed. They also consider it to be a failure in maintaining a good relationship between banks and their customers. Those who started subprime loans didnt effectively communicate the risks that were in hand. The current financial crisis has made it urgent today to completely reshape the international was financial systems work. So far, no one has been able to deliver an achievable long-term solution to the crisis. Maurice Allais, a Nobel prize winner and French economist was said to have warned against the consequences of such a crisis. He says that the best way to cure the system is by structural reforms that will prevent the crisis from happening again. He first proposes that interest rates should be 0%, and tax rate should be 2%. We can notice that this resembles very much the Islamic financial system. Under this system, interest is prohibited and requires that people should pay a tax of 2. 5% of yearly earnings, zakat. Muslim scholars think that Islamic finance â€Å"has the potential to become an alternative model for global system† (Ayub, 2007) . Islamic finance works under values such as fairness, justice, caring for future generations and the environment. Its purpose is to create a financial system that is fair for both the rich and the poor. The ultimate goal is to be able to spread social and economic justice. Taymiyyah, a highly respected scholar, says: â€Å"Hence, justice towards everything and everyone is an imperative for everyone, and injustice is prohibited to everything and everyone. Injustice is absolutely not permissible irrespective of whether it is to a Muslim or a non-Muslim or even to an unjust person. When we look at the causes of the financial crisis, we can notice that the underlying principles of Islamic finance show potential as an alternative to the conventional system. We first see that under Islamic finance, there are moral guidelines to be followed about how to deal with money. It works in order that money supply is always equivalent to real growth in the economy. We also notice that under Islamic finance, some activities are forbidden because they are harmful and unlawful. In such a system, there are no assets without risk and financial transactions are based on profit and loss sharing. Options, swaps, and speculation are forbidden under the principle of Gharar. The global crisis did have an effect on Islamic banks, however Islamic finance remained quite resistant compared to other financial institutions. If global financing followed the Islamic principles, the crisis would have never occurred or would have had a significantly less important effect. This argument is mainly based on the fact that most of the factors that caused the crisis are prohibited in the Shariah compliant financial institutions. A crisis that was due to subprime mortgage, poor evaluation of risk, use of complex financial instruments to shift the risk, speculation, and bad lending, could not have occurred under Islamic finance for many reasons: 1. Under Shariah law, debt shouldn’t be sold against another debt. A person is not allowed to sell or lease an asset they don’t own, and it is prohibited to sell debt and risky speculative transactions. All financial transactions are supposed to be fair and just, with full disclosure in contracts in order for the risk to be correctly assessed by all parties 2. Rather than being based on debt, Islamic finance is more based on equity. When they lend, all assets need to be backed up by solid assets. In this system housing loans would all have had to been backed up, which would have stopped the defaults on loans. This would therefore mean that in no way would defaulting, occurring under Islamic finance, affect other banking systems. In the conventional system, trillions of dollars were lent out without being backed up with assets, which was one of the main causes of the crisis. Under Islamic finance, this would have never happened. Muslims are expected to live within their means and what they can afford, and are not supposed to get a loan they are not able to repay just because the interest is low. There would be none of this because interest under Islamic finance is prohibited. 3. In Islamic institutions, it is very important for them to keep a good and trustworthy relationship between the institution and clients or investors. A high level of transparency is supposed to be kept, in order for the relationship to be an honest one. Both the institution and the investor open up to each other. The institution then knows when to give loans to those who need them and will be able to repay them through business activity that is known to the institution. 4. One of the causes of the crisis was the lack of regulatory control systems, which are supposed to help investors. Under the Islamic regulatory system, all parties are aware of all the opportunities and risks in a contract. Islamic banks have an obligation towards their investors of full disclosure and transparency. Full disclosure and transparency helps to control lending and enables a financial stability to take place. 5. Under Mudarabah and Musharakah contracts, with the concept of Profit and loss sharing, risk is easily managed. Investors can see the opportunities of gain as well as losses, which does not give place to speculation and uncertainty. 6. In Islamic Finance, the relationship between the institution and the borrower is seen as a partnership. Both parties have a mutual interest in the business transaction, which makes subprime and default shifting very unlikely to occur. Siddiqi says that â€Å"risk shifting is gambling†. Under profit and loss sharing, all parties will share the losses, whereas in risk shifting only one party will incur the losses. We can link Islamic principles with market failures to show how market failures could have been reduced, or even stopped under Islamic finance. Below is a graph explaining this: To conclude, it is hard to decide on one main factor that caused the crisis. There are many factors in cause such as bad lending done by conventional financial institutions, whose main goal was the returns. In this paper, we aimed to explain how the current financial crisis could have been avoided under Islamic financing. Evidence shows that Islamic finance is more stable, and a good implementation of this kind of financing could possible be a solution to the crisis and would not let another crisis happen again. This is simply due to the fact that most, if not all of the factors that caused or contributed to the financial crisis are prohibited under Islamic finance.

Persuasive Essay For Fifth Grade Samples

Persuasive Essay For Fifth Grade SamplesKnowing how to write a persuasive essay for fifth grade samples, is essential to help your child become a successful writer. If your child is not able to write persuasive essays, they will struggle in school and it is going to be hard for them to apply for college. If you do not believe in writing compelling essays for your child, the only way to ensure success is to simply let them learn through the process.Writing a persuasive essay for fifth grade samples requires a good amount of understanding of grammar and language. If your child does not have this knowledge, they may find themselves getting many letters of rejection that are more than they bargained for. This should be the least of your worries. The more critical issue is having the ability to learn the skill of persuasive writing.So what can you do if your child is struggling to write a persuasive essay? The best thing that you can do is ask them to write their essay for a friend or rel ative. By doing this you are effectively allowing them to learn through the process as well as get a good idea of how to write a persuasive essay in the first place.Since fourth grade samples, persuasive essays for fifth grade are a lot easier to write, you will need to allow your child to try to figure out their arguments before you actually put the words down on paper. You need to look at various types of essays for fifth grade samples and see what types of arguments are in the content. Most people find themselves becoming caught up in the detail of the argument that they have written about.If you want to write a persuasive essay, you will need to think more about the focus of the essay rather than the style of the essay. Rather than trying to persuade your child that you are wrong, make them feel like they are right. How you present them arguments to help them make up their own is going to be more important than how you go about presenting the argument. Instead of trying to convi nce them that you are right, simply show them how to present an argument to make them feel like they are right.In order to help your child learn how to write a persuasive essay, you will need to begin to include ideas from arguments that they present in your writing. The most common mistake when it comes to writing a persuasive essay is to start with arguments that seem so strong that you are forced to build upon them. Instead, help them build upon their arguments.If you know that your child has had a difficult day at school, the best way to help them learn how to write a persuasive essay is to help them relax. Have them prepare for an essay by having them prepare by taking a bubble bath, playing outside, or relaxing in the backyard by the pool. By helping them relax, you are not only helping them express themselves better, but you are helping them learn to listen as well.As you read more persuasive essays for fifth grade samples, you will find that there are certain qualities that are needed to successfully produce persuasive essays. When your child is struggling to write a persuasive essay, the most important thing to remember is to allow them to try to make their arguments work. By allowing them to see how to write a persuasive essay for fifth grade samples, you are giving them the opportunity to continue learning how to write persuasively for years to come.

A Story About Wwf Essay Research free essay sample

A Narrative About Wwf Essay, Research Paper A narrative about WWF # 8220 ; Welcome everybody to Raw IS War! Tonight s chief event is Biting poetries Shawn Michaels for the WWF World Heavyweight Championship. Before we begin, here is a small information on the rival, Sting, # 8221 ; announced Vince McCann. # 8220 ; He hails from Death Valley, California. At 7 pess tall and over 300 lbs, he is the biggest grappler in the WWF. He is the Man from the dark side, # 8221 ; Jim Ross stated. # 8220 ; Ladies and Gentlemen # 8230 ; .. here is your rival # 8230 ; # 8230 ; .. Biting! # 8221 ; The crowd cheers as Biting walks down the incline. He is stopped at the underside of the incline to be interviewed by Gene Oakerland. # 8220 ; Sting, if I can inquire you one inquiry. Why do you desire the rubric so severely? # 8221 ; # 8221 ; Well Gene, of all time since I was a kid, the title belt has been held by disrespecting perverts. I feel it s clip for a existent title-holder get the belt. We will write a custom essay sample on A Story About Wwf Essay Research or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page That is why I m here, I m the people s cham # 8230 ; .. # 8221 ; Before biting could complete his sentence he is attacked by HHH. HHH s spouse distracted the referee long plenty for him to present the lay waste toing Piledriver. With Biting s caput exposed, HHH drops to the land and drives Biting s exposed caput on the cement floor. The force was plenty to interrupt his cervix. Sting was knocked out from the force of the impact. When he awoke, he was in an ambulance. # 8220 ; Where am I? Person please state me where I am, # 8221 ; Biting pleaded. The paramedic treated him to quiet down. # 8220 ; I can t move! I can t travel # 8221 ; he would state. It took about half an hr to Sharp Hospital. Two physicians were waiting for him when he arrived. The instantly took him to the operating room. It was here that Biting found out that he had suffer ed a broken spinal column. The physician ordered an experimental operation. It was a extremely unsafe operation. One muss up could kill the ace. It took five hours to finish the hard operation. Sting was wheeled into his private room. To do him experience more at place, the room was decorated with WWF ware. When Biting woke up, he had a crisp hurting in his cervix. The physician gave him some medical specialty to assist. It worked a small spot. About three hours after he woke up, a physician came in and told him that he likely neer be able to wrestle once more. Biting bosom sunk. He didn T privation to hear that. It was approximately seven in the forenoon when Biting went to kip. It had been about 10 hours since he arrived at the infirmary. For the first two months, all he did was slumber. The medical specialty they were giving him doing him really sleepy. When he was awake, he would travel his manus a small. The little motion of his custodies made the physicians highly happy. They now were certain that he wasn t paralyzed. It took him another 4s months before he could travel his arm absolutely. With the assurance he had gained, he tried to walk out of bed. Equally shortly as he was off the bed, he feel level on his face. Biting was shortly transferred to the San Diego Rehabilitation Center. For the first few months, he would merely sit in bed thought of ways to acquire back HHH. One Sunday, he happened to watch church on t.v. He saw a adult male who claimed that God cured him of palsy. Biting started to pray instantly. # 8220 ; Dear Lord, It s me Sting. I know you are truly busy and all but if you could, I would truly wish to wrestle once more. Amen. # 8221 ; Biting recited this supplication for the following two hebdomads. On the 15th twenty-four hours, he tried to travel his pess

How to Stay on the Job Hunt, Even When Youre Not Hunting

How to Stay on the Job Hunt, Even When Youre Not Hunting Looking for a new job while still employed in another makes you more employable; however, it can backfire if your current employer finds out. Workers have various reasons to continue the job search. Perhaps your current job is too far away from where you live and commuting costs are pecking away at your salary, perhaps your salary is on the low side for your job description or maybe you want to work your way up the ladder faster. Whatever the reason, job hunting while employed is common. A few tips on how to do it can help. 1. Keep Quiet About Your Job SearchIf you are looking at job ads for a new position, don’t tellyour co-workers. That’s the fastest way for word to get around and eventually your boss will hear about it. Although some employers don’t care if an employee is wanting to change jobs, the knowledge of it can keep you from getting pay raises or responsibilities that you want.2. Don’t Quit Your JobIt’s easier to get a new job if you are already working. In addition, don’t get lazy in your current job because you are hoping to get a new one. You still owe your current employer a good day’s work for your pay.3. Think Before You List Character ReferencesWhile your first inclination may be to include your current boss or co-workers as references on your job application, don’t do it. Obviously, if you get called for an interview and the hiring manager calls your references, everyone in the office will know you are job hunting. Surprisingly enough, many of those seeking a new job don’t think to leave these references out of their resumes.4. Don’t Bad Mouth Your BossYour current boss may not be all sweetness and light, but bad mouthing your employer is always a bad idea. It may give recruiters the impression that you are a complainer or difficult to get along with. Focus on your qualifications for the job application and the good opportunity it offers for your advancement.5. Scheduling J ob InterviewsHours when you are supposed to be at work are not the times to schedule job interviews. Missing work hours can make your boss suspicious and does not look good to other employees. In addition, it looks odd if your office dress is casual, and you show up for work dressed up for an interview. Instead, schedule interviews outside of office hours or on weekends when you aren’t at work.This is another no-no when searching for a job while still employed. People who have Facebook or other social media accounts often have friends in the same office. Those friends also have friends who may learn of your job search activities through social media. Job boards are the same problem. Since posting your resume or interest in other jobs on these sites could end up with you pounding the pavement looking for work, keep your job search private.6.  Don’t Use Office EquipmentDon’t use office equipment, such as phones, computers and fax machines, to conduct a job searc h or send in resumes. First of all, many companies monitor use of their machines to ensure that employees are not spending company time on personal affairs. Second, you are actually supposed to be working, so keep your mind on the business at hand.There are easier ways to find a new job, no matter what the field, whether healthcare jobs, computer jobs or other types. TheJobNetwork makes it easy and does the searching for you. All you have to do is list your qualifications and the type of job you are looking for, and we do the rest. When appropriate jobs pop up, you receive an email when you sign up for job match alert. This way, you will be among the first to apply for those jobs, and opportunities will no longer slip by.

Contemporary issues in marketing MGT Essay Example | Topics and Well Written Essays - 1500 words

Contemporary issues in marketing MGT - Essay Example Over time the classical economic theory based business social responsibility evolved to see business social responsibility as more than just profit. Businesses worldwide have become more socially responsible, but they still are pursuing economic interests. Economic interests will always remain the number one priority for businesses all over the world. "Any mechanism for enforcing or urging social responsibility upon firms must of course reckon with a profit motive..." (Arrow, 2001: 304) Not all the businesses have socially responsible outlook. Some business owners still regard socially responsible business practices as a waste of money, the cost outweighing any benefits. The majority of business owners, however, regard the cost of socially responsible actions as necessary expense. They make such a commitment an essential part of their business operation. They take a great deal of pride in the reputation their business has established and wish to protect its good name. These businesses want to be seen as responsible corporate citizens, conscious of the high standards expected of them by their customers and society at large. The business world of today is much more complex compared to that of 60 years age, requiring a higher degree of corporate social responsibil... Corporate Social responsibility's (CSR's) time has come, and it is not just a management fad. The key benefits of CSR for companies are in employee retention and helping organizations through dialogue and engagement with their key stakeholders. This enables companies to win better alignment with their markets and customers in the long run, and help stem the growing tide of confrontation. Strategic Ethics And Social Responsibility Strategic ethics and social responsibility are two of the most important, yet perhaps most misunderstood concerns in the world of business today. By their very nature, these fields are controversial, and there is no universally accepted approach for solving their questions. On the other hand, government is encouraging organizational accountability for ethical conduct, and organisations are being asked to prevent and control misconduct by implementing ethics programs. By defining strategic ethics, we can link and compare it with the concept of social responsibility. In this way, we can examine applications in the business context, thus drawing conclusions about their roles in strategy. (Ferrell, 2000, 119-23) With the competing demands from different stakeholders, Corporate Social Responsibility is becoming more important in an organisation. Corporate enterprises are starting to recognize that they have a wider responsibility to the communities within which they operate. Research has shown that by implementing social responsibilities, a win-win situation can be achieved between the company and its stakeholders. Social responsibility is the obligation a business assumes toward society. Jennings (2003:6)

Analysis of Valet Ticket Assignment Example | Topics and Well Written Essays - 250 words

Analysis of Valet Ticket - Assignment Example There is a variety of laws which regulates valet ticket across U.S. These laws have been put in place so as to safeguard consumers from the damage of cars and personal belongings inside the car. Valet parking is mostly common in California particularly in Southern California and Los Angeles (Chrest, 2001). Planet Hollywood hotel& casino based in Las Vegas has a valet parking service. The state must license each valet organization in California. In order for the hotel to qualify for the license, the hotel must have an insurance policy to protect the vehicles while in their custody. The insurance cover will protect the persons and vehicles up to a specific amount of a deductible. Bailment theory has been defined as the delivery of something in respect of trust for a special object. If a car is damaged or a person is injured while is in the hotel, the initial question is whether a valet ticket has been offered. When a car containing personal belongings is left in a valet parking, courts usually engage in two analysis to determine liability. One concerns the vehicle and the other concerns the contents in the vehicle. When keys are left with the valet operator, there is bailment. However, if there is damage to a vehicle, and the keys had not been surrendered to the valet there is no