...improvement from high CEO effort Bonus to CEO = $240,000,000 X 1% = $2,400,000 To ensure highest shareholders’ value, the performance level triggering this bonus should be $1,000,000,000 The price per share = $1,000,000,000 / 10,000,000 = $100 Elicit high CEO effort, if or when medium luck occurs, pay bonus when shareholders’ value > $800,000,000: Criticisms: a) It is difficult to distinguish whether the company is experiencing high CEO effort with medium luck or the company is experiencing low CEO effort with good luck of the company as both have the same shareholder value. b) The effort of the CEO is immeasurable and the luck of the company is difficult to measure. c) The CEO has the ability to directly or indirectly control the exposure of the company to the luck experienced. For example, although the industry is experiencing good luck, but due to the company directions taken by CEO, the company might just experience medium luck only. d) It is difficult to predict the expected shareholder value based on luck. For example, during the medium luck, the company might have a potential to generate a higher shareholder value but since the target of $800,000,000 already achieved, the CEO might reduce the efforts or postpone the opportunity to next year. Question 3: Elicit high CEO effort, if or when good luck occurs, pay bonus when shareholders’ value...
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...Does luck exist? Some think they were just born lucky and that they just always have good luck, others just don’t have luck at all. If you ask St. Patrick himself, he might disagree because he believes in God and that he has the power to oversee everything that happens to you. On the other hand, if you ask someone who is not a religious seeker they might say that luck is just something that is magical or witchcraft. One thing that relates to luck is the little shamrocks- some believe if you find the 4-leaf clover among the shamrocks, you are said to be lucky. Is this true? everyone has their own opinion about luck but it all depends on how you look at it. Let’s learn more about the shamrock and how it relates to this holiday. The green Shamrock is a symbol of St Patrick’s day because of the man himself: St. Patrick. “According to Biblical scriptures, the religious figure used a shamrock as a metaphor for the Christian Holy Trinity.” Each of the 3 leaves represent God in 3 forms: The Father, Son and Holy Spirit. How it has to do with luck, some may question. Some get confused with the shamrock and the special four leaf clover; although they are close relatives. “And He watched over me before I knew Him and before I...
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...superstitions. “What are superstitions?” many of you may ask, “and how did they originate?” Well, today you are going to find out. Good evening teachers and students. How many of you ever heard that it is bad luck to spill salt or that it is good luck to say “Bless You” to a person after they have sneezed? I’m sure many of you have heard those superstitions, but did you ever wonder who made them up? Many famous superstitions such as the one about black cats originated in early Christianity or in Ancient times. In Ancient Egypt, people believed in mythical gods. One of those gods was a black female cat named Bastet, and since Christians were trying to get rid of other religions, black cats and their owners were burned. After many years, black cats were thought to have another meaning - evil. They were believed to have supernatural powers of evil and be associated with witches and demons. People believed that if any black cat crossed your path, this was a sign that the devil was thinking about you and blocking your way to Heaven. Many years ago, it was proven that black cats weren’t evil, but to this day people still try to avoid having a black cat cross their path. Although it seems unfair to have bad luck for a day just because a black cat crossed your path, did you know that you can have bad luck for seven years if a mirror is broken? The origin of this superstition is quite old. In Ancient times, it was believed that a mirror was a sign of the Egyptian gods. Mirrors were believed...
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...Luck or Opportunity "Luck is a matter of preparation meeting opportunity” is a quote from Oprah Winfrey, a famous American talk show host. The speaker is trying to tell people that good preparation for opportunity is the key to be successful, not luck. Luck is really being ready for something, perhaps unconsciously, so that you recognize it when you see it. When whatever it is comes along, it will seem to be a stroke of luck, but in reality it is not luck at all. It is something you have strived and worked towards, maybe without even knowing it, so that when it presents itself it seems second nature. I agree with Winfrey because I believe that preparation is more important. My agreement is based on the following reasons. The first reason is that opportunity is very transient and rare, so we must grab it whenever we meet it. In my opinion, grabbing opportunity means to get ready and be well-prepared. Take Oprah Winfrey for example. Before she became a well-known national TV host, she worked in a local station for many years and had gone to uncountable interviews. Without her experiences, she could not have gotten the interview for national TV host and become successful. Second, preparation is always advantageous and never harmful to us. Preparation requires motivation, activity and carefulness. Those who most frequently experience outcomes viewed by society as unlucky live lives which exhibit little evidence of motivation, activity and care. When preparing for something...
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...Luck is Very Important for Success Luck can be regarded as what happens to a person beyond his control, and it can be interpreted in various ways as according to a rationalist luck includes the function of the system of probability and an ignorance of unscientific beliefs. Another face of the luck refers to a series of spiritual or divine philosophy termed as fortune; several people consider that luck can be influenced through performing certain rituals by spiritual means. This belief varies from one to another person, as some says that luck is a belief of fortunate and unfortunate events in an organization or a meaningful coincidence as per Carl Jung philosophy (The Luck Factor by Richard Wiseman). Success or failure in business or in any other field is the result of a person’s own deeds as practically it can be accepted that one of the essential thing to be successful– being fearless! Here it is noticeable that fearless person feels confidence and able to take best decisions in any circumstance. The role of luck in success can be viewed as 30-50% successful inventions are the result of some degree accidental mistakes while setting up the experiment, sometimes when experiments fail or don’t work and a person who could have been famous unluckily gives up too soon, whereas because of some awful breaks, a great scientist becomes a sales man (The Book of Luck by Summers & Watson). This proves that success and failure are just a throw of the dice, luck favors the prepared mind...
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...advance and you’ll see how your decisions played out in next month. You’ll do this for every month until you reach the end of the simulation. Good luck with your pricing strategy!When you’re ready to set your prices for the month, enter them on the right and click “Advance to the Next Month.” The simulation will advance and you’ll see how your decisions played out in next month. You’ll do this for every month until you reach the end of the simulation. Good luck with your pricing strategy!When you’re ready to set your prices for the month, enter them on the right and click “Advance to the Next Month.” The simulation will advance and you’ll see how your decisions played out in next month. You’ll do this for every month until you reach the end of the simulation. Good luck with your pricing strategy!When you’re ready to set your prices for the month, enter them on the right and click “Advance to the Next Month.” The simulation will advance and you’ll see how your decisions played out in next month. You’ll do this for every month until you reach the end of the simulation. Good luck with your pricing strategy!When you’re ready to set your prices for the month, enter them on the right and click “Advance to the Next Month.” The simulation will advance and you’ll see how your decisions played out in next month. You’ll do this for every month until you reach the end of the simulation. Good luck with your pricing strategy!When you’re ready to set your prices for the month,...
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...Authors’ Bios: Jim Collins studies and teaches how great companies endure, specifically – how they grow, how they attain superior performance, and how good companies can become great companies. Having invested nearly a quarter of a century of research into the topic, Jim has authored and co-authored six books that have sold more than ten million copies worldwide. The books include: the classic Built to Last, a fixture on the Business Week bestseller list for more than six years; the international bestseller Good to Great, translated into 35 languages; and How the Mighty Fall, a New York Times bestseller that examines how some great companies destroyed themselves. Morton T. Hansen is a management professor at the University of California, Berkeley (School of Information), and at INSEAD. Formerly a professor at Harvard Business School, Morten holds a PhD. from Stanford Graduate School of Business where he was a Fulbright scholar. He is the author of Collaboration and the winner of the Administrative Science Quarterly Award for exceptional contributions to the field of organization studies. Previously a manager with the Boston Consulting Group, Morten consults and gives talks for companies worldwide. Authors’ Big Thought: Ten years after the worldwide bestseller Good to Great, Jim Collins returns with another groundbreaking work, this time to find out: Why do some companies thrive in uncertainty, even chaos, and others do not? Based on nine years of research, buttressed by rigorous...
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...Nagel's Essay Moral Luck Moral philosophers have not acknowledged any connection between luck and morality. In fact, we as humans tend to disregard moral judgment when we are faced with instances of luck. Moral judgment does not just categorize actions as good or bad, this term is indeed applied to a person’s own character. If there are certain circumstances where the person who is being judged is not under control, then the act of judgment is also undermined or the judgment is not reliable in some way. In his essay Moral Luck, Thomas Nagel addresses the issue of why we praise and blame other people for moral reasons. If someone pushes someone out of the way of an oncoming vehicle at the last moment, they are a hero. Likewise, if someone hits someone with their car, they are a careless and evil person. But Nagel argues that there are so many more factors involved in morality and elements that effect moral luck. He defines moral luck as a situation “where a significant aspect of what someone does depends on factors beyond his control, yet we continue to treat him in that respect as an object of moral judgment” (Nagel, 466). People for so long have made judgments about people based on the actions they commit. This appears to be a good idea, because the actions say a lot about the person, presumably. However, they stop thinking about it there and disregard the factors that go into what a person does which the person has no control over. Obviously this raises a puzzling...
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...classes of America broadened. This big gap made success an extremely distant reach for the lower class. During the Gilded Age, the ideology of success was widely promoted. Horatio Alger was one of the Gilded Age’s biggest advocates of success, sharing his ideas about how the poor could go from “rags to respectability” through plain luck. Horatio Alger’s beliefs connecting success and luck are highly irrational. Success is something that is achieved through hard work, not something that magically appears through luck. One may define success as being rich, having status, or simply living a happy life. Those things can easily be obtained through success. However, I believe that something that is not achieved does not truly define success. There is a big difference in having the luck of being born into a rich family and achieving an affluent position at work. I believe that success can only be the result of accomplishments through strong efforts; otherwise, it is simply pure luck and not success. When people achieve “success” through luck, there is nothing that was worked for; therefore, there is no true success to be proud about. Although good things do indeed happen to good people, the outcome of luck does not give those people the title of being a successful person. Lucky people are lucky, and hardworking people are successful. Therefore, luck and success are entirely different and have absolutely no connections. In achieving my goals, luck has played absolutely no part...
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...D.H. Lawrence, a 20th century poet, used controversy as his main weapon, “Lawrence was revered for his brash controversy.” (Lawrence) His most celebrated work is his story Rocking Horse Winner, a text about gambling, greed and luck. The poem tackles subjects that are timeless, despite its creation at a time where all of these subjects were rather sever. Rocking Horse Winter is about a boy, who lives in an upper middle class family, who starts to gamble on horse races to win money for his greedy mother. Throughout Rocking Horse Winner, Lawrence toys with the ideas of greed, gambling, and luck. The first theme is greed. Rocking Horse Winter, a story about a boy trying to please his upset mother, is pivoted around the mother, despite her only being a secondary character. Paul, the young boy, is told by his angered mother that they have no luck, and no money. This drives him to physical limits when he tries to turn those things around. Once he actually achieves turning these things around, his mother isn’t happy with the money. “I’d rather have the whole thing” (1258) In the end, the mother's greed kills Paul. I believe Lawrence is trying to convey how greed is capable of...
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...Preparations for the New Year begin a couple of weeks before the big day. This is a fun time full of anticipation and joy as we get ready for the thrill and excitement of the celebrations. According to the traditions, this is the time to clean the house, prepare food for the feast and make banners and decorations special for the New Year. A clean house to welcome the New Year Before the New Year comes, it is one of the Chinese New Year customs to clean the house from top to bottom to get rid off all the bad luck gathered in the previous year. And after the New Year comes, you cannot sweep during the first days otherwise all the new luck will sweep away! So one of your Chinese New Year activities will be to... clean your room! Wouldn't want all that accumulated bad luck for another year would you??!! Cleaning house also means settling all your unfinished business to start fresh for the new year: Pay off all your debts, resolve all quarrels with friends, catch up with homework!!! Make some Banners and Decorations Red banners with New Year messages of good luck decorate the main entrance of your house/room. Red is a very lucky color and symbolizes vitality of life and happiness. You can make your own Chinese New Year decorations with bright red paper and markers or a brush if you prefer. Here are some instructions to make your own New Year Banners including the "Lucky Characters" stroke by stroke. | | Preparing the Chinese New Year Banquet On New Year's Day, the...
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...“Luck, Greed & Money” Success or failure brought by chance rather than through one’s own actions is Luck; which Hester understands but still is not willing to give up their luxurious lifestyle. D. H. Lawrence describes their living style in “The Rocking-Horse Winner,” in a pleasant house, with a garden and servants to feel superior to anyone in the neighborhood. Hester marries for love, and it turns into dust. She had two little girls and a boy, whom she tells that luck is everything, and her “good luck” is ruined by her husband’s “bad luck.” They did not live a poor life style, but Hester is to compete with other families by having the best and most stylish living. She is always looking for ways to earn more money, but fails. This greed was turning Hester into a Heartless mother, she complains about not having enough money that the house starts to echo the phrase, "There must be more money!" This statement caused her son Paul, feel the need to help find more money. He does this by gambling with the gardener at the horse race track and wins a lot of money. As he wants to start giving his mother some of the money on yearly basis, she ends up wanting it all. The more she gets, the more she wants, without realizing where it was coming from. Everyone in the neighborhood thinks Hester is a good mother, who adores her children, but only she and the kids knew that it wasn’t true. She always showed love to her kids but could not feel it in her heart because there wasn’t enough...
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...symbol of good luck, longevity, protection, harmony and money in Feng Shui. Dragon Turtle is a Chinese legendary symbol with the head of dragon and the body of turtle and thereby is a combination of the 2 out of 4 celestial animals of Chinese mythology .It has a coin in its mouth and a baby tortoise on its back. The Dragon Headed Turtle with a baby of its back while standing on a pile of coins represents a new business venture with prospects. The symbolic meanings of the animals are dragon (luck); tortoise (long life), baby tortoise (new beginnings, fertility or excellent descendants luck) and the Coins represent the Money that can be made. The dragon is said to be blowing good breathe to people and carrying Ru Yi which signifies power, high rank and doing everything well. The ideal placement of the Dragon Turtle Feng Shui Symbol would be in the North or East sector of the house. Placing this dragon at home is said to bring the occupants of a home good luck, wealth and feeling of security. The Dragon Headed Turtle also protects a home from negative energies. Do not put the symbol in the North or East if it is directly in front of you while putting it at Office or Business place. Instead it would be best to position the symbol parallel to where you sit or right behind the seat looking sideways which signifies support. Keeping a dragon turtle will attract prosperity to your business and improves your relationships with those around you. To improve the general relationship luck keeping...
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...In these pages I am going to talk about luck and first days of high school as a freshman. Luck is an interesting ideal because some people consider themselves lucky and others consider themselves an unlucky but not many has considered if it’s true. The first years of high school teaches how I matured and learned about Christ. Finally I would like to make sure this is not totally opinionated. Like everyone else, I had to go through the application and acceptance or denial process to get into a high school. In the eighth grade, I have realized that I didn’t really care to refer to good occurrences as good luck or bad occurrences as bad luck. In the midst of the ending of eighth grade year, I received a letter of unacceptance by five high schools...
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...a very good guideline to follow for people to bring happiness in their life. In this paper I am going to discuss why pleasure can’t amount to happiness alone, what Aristotle says we need to attain happiness, and my thoughts on happiness and why I agree with Aristotle. For my first point, pleasure can’t amount to happiness alone because pleasure isn’t the goal of life according to Aristotle. The goal of life is to strive for happiness. While striving for happiness, pleasure is just something that is included while attaining happiness. I totally agree with Aristotle because for me personally, if I just aim for pleasure for myself, my actions may bring misfortune upon others, be it eating certain types of foods that are very dangerous for people to attain, like The Deadliest Catch crabs for example. Not saying that I will stop eating crab, but if I, and everyone else in the world wanted crab all the time, many lives would be lost for our sake. Happiness isn’t gained from any one thing, but from a combination of things according to Aristotle. There are 5 main things that Aristotle states that we need to obtain happiness. They are bodily goods, which include a healthy lifestyle, external goods, which are money, food, shelter and clothes. Then there are psychological goods, these are friendships, family, and self-esteem. Luck, both good and bad luck, and habits, mainly good habits that has us make habits of making right choices and build good character. This brings...
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