Free Essay

Seeking

In:

Submitted By jambarish
Words 2920
Pages 12
Prior House 6 Tilbury Place Brighton BN2 0GY Tel. 01273 606160 Fax. 01273 673663 e: info@resourcecentre.org.uk www.resourcecentre.org.uk

Not-for-profit organisations
A brief guide to legal structures for community & voluntary organisations and social enterprises

Contents
Introduction ........................................................................................................................ 2 Community Groups and Voluntary Organisations ......................................3
Unincorporated Association ...............................................................4 Charitable Trust .....................................................................................4 Charitable Incorporated Organisation (CIO) .....................................4 Charitable Company .............................................................................5

Social Enterprises ..............................................................................................................5
Partnership and Limited Liability Partnership ....................................5 Limited Company...................................................................................6 Community Interest Company ............................................................6 Industrial and Provident Society (Co-operatives) ............................7 Development Trusts and Social Firms ...............................................8

Further help and useful addresses ..........................................................................9

Updated June 2010

Page 1

PTO

Page 2

Not for Profit organisations
Introduction
There is a wide range of structures open to organisations which are active in the community. People frequently refer to such organisations as ‘not-for-profit’ or ‘non profit-making’ organisations. While these may be handy informal descriptions, these terms have no legal meaning in this country and do not refer to any particular legal structure. In this sheet, we give brief details of structures for not-for-profit organisations, together with details of organisations which can give more help. For the purpose of this information sheet, we are dividing organisations in the community into two main categories: 1. Community Groups and Voluntary Organisations This category covers a whole mass of organisations, ranging from small neighbourhood groups run by local people to larger voluntary agencies with staff. They may be working to improve their local area, campaigning for change or providing a service. Some, but not all, will be charities. 2. Social Enterprises Social Enterprises have been defined as “a business with primarily social objectives whose surpluses are principally reinvested for that purpose in the business or in the community, rather than being driven by the need to maximise profit for shareholders and owners.” Social Enterprises are involved in providing services or making goods. However they have explicit social aims and social ownership with a structure based on participation by ‘stakeholders’ such as users, community groups and employees. Most aim to be viable trading concerns, making a surplus from trading alone.

Page 3

Not for Profit organisations
1. Community Groups and Voluntary Organisations
The three usual types of structure which your group may want to consider are: H H H H Unincorporated Association Charitable Trust Charitable Incorporated Organisation (from early 2011) Charitable Company

The first two are fairly quick and cheap to set up, and it is expected that it will be fairly simple to set up a Charitable Incorporated Organisation when this form of organisation becomes available. However, establishing a Charitable Company can be more timeconsuming and expensive. Whichever structure you choose, you must draw up a set of rules stating how your group will work (known as the governing document). There is a different type of governing document for each structure. Our information sheet ‘Community and Voluntary Groups - A Guide to Legal Structures’ looks in more detail at these three structures. A few groups which think of themselves as community organisations may find that a business structure, such as a Cooperative or a (non-charitable) Limited Company, is more appropriate than one of the four structures usually adopted by community groups or voluntary organisations. For example, a large campaigning group may decide that it needs a more formal structure than its starting point as an unincorporated organisation and that a limited company is more appropriate. Or a small group of community artists may prefer to set themselves up as a form of cooperative.

PTO

Page 4

Not for Profit organisations
Unincorporated Association
An Unincorporated Association is a membership organisation. It can be whatever its members want it to be, and carry out whatever activity you choose. It is the easiest, quickest and cheapest way for a group to set itself up. There is no need even to keep a membership list – anyone who is entitled by your rules to be a member can simply turn up and take part. It is ideal for many small groups, especially those without staff or premises. A large number of groups fall into this category (sometimes without knowing it). You do not have to seek approval of any kind before setting up and you are free to draw up your own democratic constitution setting out the rules under which your group will be run. You do not have to register with any regulatory body, though if your group has charitable aims and an income above £5,000 per year you are required to register with the Charity Commission.

Charitable Trust
Charity Commission Direct PO Box 1227 Liverpool l69 3UG Tel: 0845 3000 218 Minicom: 0845 3000 219 www.charitycommission.gov.uk A Trust is usually set up to manage money or property for a charitable purpose and it will register with the Charity Commission. It is not a membership organisation but is run by a small group of people, known as Trustees, although the Trust Deed (its governing document) can be written in such a way as to allow for members. This structure is suitable for a charity with more professional aims which wants to employ a very small number of workers or manage a building, but you should bear in mind that the Trustees of a Charitable Trust are personally liable for any debts. A Trust is fairly cheap and simple to establish.

Charitable Incorporated Organisation (CIO)
This new form of charitable organisation was expected to be introduced in the Spring of 2008, but the date has slipped back to early 2011. It will give a charity the main advantages of a Charitable Company – a legal personality and limited liability – but it will be registered with and regulated by the Charity Commission only. Requirements for reporting and for annual accounts should be simpler and much cheaper, in particular for a smaller CIO. The Commission will produce model forms of constitution for CIOs.

Page 5

Not for Profit organisations
Charitable Company A Charitable Company is Limited Company with charitable aims. It is a membership organisation (a list of members is part of the Company Register) and accountable to the community. It also has a legal identity separate from its members and its directors are agents of the company and are not personally liable for its debts. There are two types of Limited Company. A Company Limited By Guarantee is one in which there are no shareholders and any surplus is reinvested in the company. This type is recommended by the Charity Commission. A Company Limited By Shares is more usually found in the commercial sector, where its members invest money in the hope of gaining a profit. Establishing a Charitable Company currently involves registering with both Companies House and the Charity Commission.

Companies House Crown Way Cardiff CF14 3UZ Tel 0870 3333636 www.companieshouse.gov.uk

2. Social Enterprises
Co-operatives and Workers’ Co-operatives A Co-operative is a business that is owned and democratically controlled by its employees but it is not a single legal structure. A Co-op can be established as a Partnership or a Company Limited by Shares. But, the two most common forms are as a Company Limited by Guarantee or as a Bona Fide Co-operative Society. Information and forms for Partnerships and Limited Liability Partnerships are available at www.clickdocs.co.uk Businesses covering a wide range of activities are defined as social enterprises. Legal structures to consider are: H H H H Partnership and Limited Liability Partnership Limited Company Community Interest Company Industrial and Provident Society a) Bona Fide Co-operative Society (including a Credit union) b) Society for the Benefit of the Community

Partnership and Limited Liability Partnership
A partnership is not generally considered to be a Social Enterprise, though social aims can be spelled out in the Partnership Agreement. A Partnership Agreement is between two or more people and defines how the business will be run. But there is likely to be a problem if the business wants to apply for funding as it will be difficult to demonstrate any wider social involvement. Partners can be selfemployed or employees of the partnership and they are personally liable for debts. There is also a form of Limited Liability Partnership (LLP) which is safer for the partners; they are not personally liable for any losses provided

PTO

Page 6

Not for Profit organisations they have acted in a reasonable manner. An LLP requires you to register with Companies House and to publish annual accounts.

Limited Company
This may be a company limited by shares or limited by guarantee. Its Memorandum & Articles of Association must state that any surplus is put towards the company’s social purpose and usually defines the company as democratic and accountable to the community through its membership. In law, a Limited Company is considered to be a person and it can therefore own land or enter into contracts. The directors are agents of the company and are not personally liable for its debts. This is a flexible structure, suitable for a wide range of Social Enterprises, but regulation by Companies House is fairly strict and there are detailed requirements for annual reports & accounts.

Community Interest Company
Community Interest Companies Regulator www.cicregulator.gov.uk A CIC is a limited company with special features to ensure that it works for the benefit of the community. It differs from a charitable company in that it can be established for any legal purpose which benefits the community, whereas a charity must have exclusively charitable purposes. A further advantage is that a CIC is subject to lighter regulation than a charitable company. On the downside, a CIC may not be eligible for funding which is available to a charity. CICs commit their assets and profits permanently to the community by means of an “asset lock”, ensuring that assets cannot be distributed to shareholders. They report to a new independent regulator, the Regulator of Community Interest Companies. A big advantage is that CIC’s not-for-profit status is visible as well as assured. It is worth noting that a CIC cannot register as a Charity, but that a Charity may set up its trading subsidiary as a CIC. CICs have to register with Companies House as a company limited either by guarantee or by shares and then apply to the new Regulator for CIC status. The CIC Regulator’s website has detailed guidance notes on all aspects of setting up a CIC, or converting an existing limited company to a CIC.

Page 7

Not for Profit organisations
Industrial and Provident Society (IPS)
An Industrial and Provident Society (IPS) is an incorporated organisation and its members benefit from limited liability. There are two types of IPS: a bona fide co-operative society and a society for the benefit of the community. An IPS must register with the Mutual Societies Registration section of the Financial Services Authority, the regulatory body. In general regulation is lighter than for Limited Companies and the accounting requirements far less stiff. Following the Co-operative and Community Benefit Societies and Credit Unions Act 2010, the names of industrial and provident societies were changed as follows: Bona fide Co-operative Societies are now known as Co-operative Societies; Benefit of the Community Societies are now known as Community Benefit Societies. It is not yet known when these changes will come into effect. An IPS is run by its members and there are several sets of model rules. Profits must generally be ploughed back into the business. Where part of the profits are used for another purpose, that purpose should be similar to the main aim of the society, for example for philanthropic or charitable purposes. Where the rules of the IPS allow assets to be sold, the proceeds must be put into its business activities. A change in the law has now made it possible for a non-charitable IPS to have an “asset lock”, similar to a CIC above, to ensure that its assets are always used to benefit the community. An IPS whose aims are wholly charitable is considered an ‘exempt charity’ - it cannot register with the Charity Commission and is not regulated by them, but it is generally bound by charity law. However, following the March 2010 Act, Community Benefit Societies with an income over £100,000 will register with the Charity Commission. This change is likely to happen some time in 2011. A charitable IPS already has an “asset lock” under charity law. a) Bona Fide Co-operative Society This is a business owned and democratically controlled by its employees and founded on seven basic principles, one of which is Concern for the Community. Although a co-op must make a surplus to be successful other motives may be equally important; for example, a recycling co-op will be based on concern for the environment. A co-operative must have at least two members.

The Financial Services Authority – registration of Industrial & Provident Societies 25 The North Colonnade, Canary Wharf, London E14 5HS Helpline 0845 606 1234 www.fsa.gov.uk

PTO

Page 8

Not for Profit organisations
A Credit Union is a specialist form of co-operative, regulated by an act of parliament covering financial services. It is a financial co-operative whose savers are its members. Money is saved in a common fund and can be used to make low interest loans to members. A Credit Union is run by a Board of Directors elected from among the membership at the AGM. There are other specialist co-operatives such as housing co-ops which are covered by separate regulation. b) Community Benefit Society A Community Benefit Society (called a Society for the Benefit of the Community until a recent change in legislation) must show that its activities benefit the wider community rather than simply its members. It also has to demonstrate a ‘special reason’ for registration as an IPS rather than as a company.

Development Trusts and Social Firms
These are two fairly common forms of Social Enterprise but neither is a legal structure in itself. Development Trusts are set up to bring about local regeneration and are often established as Limited Companies with a broad membership. They see their role as seeking “to move beyond provision of welfare services, by setting up enterprises (social businesses) which encourage self-help and reduce dependency.” Social Firms are businesses set up specifically to provide employment or training to disabled people, and they are usually limited companies or co-operatives.

Page 9

Not for Profit organisations

Further help and useful addresses
The Resource Centre is not able to offer more detailed guidance on legal structures for social enterprises. Please contact the appropriate specialist organisations listed below.

Community groups and voluntary organisations
Community Matters 12-20 Baron Street London, N1 9LL Tel: 020 7837 7887 www.communitymatters.org.uk Email: communitymatters@communitymatters.org.uk Charity Commission Direct PO Box 1227 Liverpool L69 3UG Tel: 0845 3000 218 Minicom 0845 3000 219 www.charitycommission.gov.uk Companies House Crown Way Cardiff, CF14 3UZ Tel: 0870 3333636 www.companieshouse.gov.uk Community Interest Company Regulator CIC Team, Room 3.68 Companies House Crown Way, Maindy Cardiff CF14 3UZ Tel: 029 20346228 Website: http://www.cicregulator.gov.uk Business Link (Small Business Service) Government agency offering advice on all aspects of starting up small businesses, including partnerships and forms of social enterprises. Advice line: 0845 600 9006 Minicom 0845 606 2666 www.businesslink.org Social Enterprise Coalition 54 Haymarket London, SW1Y 4RP Tel: 020 7968 4921 Email: info@socialenterprise.org.uk www.socialenterprise.org.uk Community Action Network Support for social enterprises CAN Mezzanine 49-51 East Road London, N1 6AH Tel: 020 7250 8000 www.can-online.org.uk

Social Enterprises
General Brighton and Hove Business Community Partnership: More than Profit Office 2A 11 Jew Street Brighton BN1 1UT Tel: 01273 770075 Fax: 01273 723037 Email: admin@bhbcp.org.uk www.bhbcp.org.uk/services/more-than-profit/

PTO

Page 10
Brighton & Hove City Council Economic Development Team Kings House Grand Avenue Hove, BN3 2LS Tel: 01273 291104 www.brighton-hove.gov.uk Limited Companies Companies House Crown Way Cardiff CF14 3UZ Tel: 0870 3333636 www.companieshouse.gov.uk Industrial & Provident Societies Co-operatives UK Holyoake House Hanover Street Manchester, M60 0AS Tel: 0161 246 2900 www.cooperatives-uk.coop Radical Routes

Not for Profit organisations
PO Box 1604 Southampton, SO18 9FG Tel: 0845 3733 616 Email: chris@can.coop www.can.coop

Co-operative Assistance Network Ltd South East Region

Association of British Credit Unions (ABCUL) Holyoake House Hanover Street Manchester, M60 0AS Tel: 0161 832 3694 Email: info@abcul.org www.abcul.org The Financial Services Authority Registration of Industrial & Provident Societies 25 The North Colonnade Canary Wharf London, E14 5HS Helpline: 0845 606 9966 www.fsa.gov.uk Social firms Social Firms UK Suite 2 Victoria House, 10 Brighton Road, Redhill Surrey, RH1 6QZ Tel: 01737 231360 www.socialfirms.co.uk Development Trusts Development Trusts Association 33 Corsham Street, London, N1 6DR Tel: 0845 458 8336 Email: info@dta.org.uk www.dta.org.uk

A network of radical co-ops whose members are committed to working for positive social change. Their website has useful guides to setting up a workers coop and a housing coop. 16 Sholebroke Avenue Leeds West Yorkshire LS7 3HB Tel: 0845 330 4510 www.radicalroutes.org.uk Co-operative & Community Finance (ICOF) Brunswick Court, Brunswick Square, Bristol BS2 8PE Tel: 01179 166750 Fax: 01179 166751 info@co-opandcommunityfinance.coop www.icof.co.uk

Similar Documents

Free Essay

Why a Harvard Professor Has Mixed Feelings When Students Take Jobs in Finance

...Why a Harvard Professor Has Mixed Feelings When Students Take Jobs in Finance This is a bittersweet time on campus. Seniors are beginning to find jobs, and while their enthusiasm is infectious, some of their choices give me pause. Many of the best students are not going to research cancer, teach and inspire the next generation, or embark on careers in public service. Instead, large numbers are becoming traders, brokers and bankers. At Harvard in 2014, nearly one in five students who took a job went to finance. For economics majors, the number was closer to one in two. I can’t help wondering: Is this the best use of talent? Of course, these are intensely personal choices as young people chase their aspirations and dreams. But if a favorite student of mine comes up to me and says, “I just got an offer at this investment bank and I’m going to take it,” I want to know how should I feel about it. I will be happy for her individually, but still I wonder: Is this a good decision for society as a whole? As an economist, I look at it this way: Every profession produces both private returns — the fruits of labor that a person enjoys — and social returns — those that society enjoys. If I set up a shop on Etsy selling photographs, my private returns may be defined as the revenue I generate. The social returns are the pleasure that my photographs provide to my customers. A scene from “It’s a Wonderful Life” that presents two types of bankers. Mr. Potter, seated, played by Lionel...

Words: 1275 - Pages: 6

Premium Essay

Job Seeking

...identified, it made it easier for me to focus on these characteristics of myself and think of how I can sell or make them known to a potential employer, which I feel important in the job market of today to help me possibly stand out from other job seekers. The next area discussed was Resume development. I thought this was another important topic for the class, as it helped me to learn how to develop and construct a professional style resume. The topic helped me to decide what experiences and education to include in my resume, and in what order to list these. I feel a professional style resume is a key component in job seeking, as it shows a level of professionalism and clearly states what I can offer to an employer. To go hand in hand with the resume development, we also developed cover letters. The cover letter I feel gives a more personal feeling to your job seeking as it is a chance for you to express yourself and what you feel you can provide to an employer, it can also give an employer a sample of your writing style and allows you to show a professional demeanor and style. The next topic I will discuss is references and thank you letters. References are an important area to focus on in your job hunt, as it is important to...

Words: 917 - Pages: 4

Free Essay

Information Seeking

...Faculty Information-Seeking Behaviour in the Changing ICT Environment: A Study of Commerce Colleges in Mumbai Jayadev Kadli Librarian, Lala Lajpatrai College Mahalakshmi, Mumbai – 400 034, INDIA, B.D. Kumbar Professor Department of Studies in Library and Information Science Karnatak University Dharwad – 580 003 INDIA Introduction The kind of information required by the user, methods adopted in searching information, environment affected, time spent, problems faced and solutions made, the satisfaction/dissatisfaction arising from the information gathered and the relationship of the user with the system – all come under purview of a user study. A user study is the means for systematic examination of the characteristics of information behaviour of the users. Progress in information technology has offered today’s information seekers different opportunities to access the information resources in variety of formats, including commonly-available electronic information sources, such as CDROMs, databases, Web-OPACs, and the Internet. In some instances these are replacing the print-based information sources as the primary media for the storage and communication of recorded information. The increase in information available on the Web has affected information-seeking behavior, with many types of information in many different locations all available in one place.1 Information-seeking behaviour involves personal reasons for seeking information, the kinds of...

Words: 4899 - Pages: 20

Free Essay

Seeking Justice

...Running Head: JUSTICE 1 Seeking Justice: A Film Critique Paul J Baker Jr 11-26-12 ENG 225 Instructor: Hope Umansky Justice 2 A film is a marvelous piece of art to the one who creates it. The story and plot that is told can have some profound meanings and sometimes portray things that we wish would happen. Actors come and go but sometimes they reach the level of a star. Nicholas Cage is one such star. We remember his past works in movies like Faceoff, Gone in 60 Seconds, and National Treasure. These films show this actor as an action star. You can never know if the character he is playing is going to be good or bad. However in recent years critics have stated that Cage has been lost. Performing in movies like the Sorcerer’s Apprentice has appeared that Cage was searching for something. They have wrote him off as the action star that he was but in a triumphant return in 2011, the movie Seeking Justice showed that Cage is still who we remember. This movie, because of its actors, plot, cinemaphotography, and direction bring back the action thrillers that we have been longing for. Seeking Justice is one of the best films made in 2011. “The screenplay has to come from somewhere, and that somewhere is the mind of someone who wants nothing more than to tell a story. After all, without a story, Indiana Jones doesn’t recover the Ark of the Covenant, E.T. never phones home, and Batman never catches the Joker. Every movie, from the biggest, loudest...

Words: 1560 - Pages: 7

Premium Essay

Drug Seeking

...“Drug Seeking” in Health Care Chronic pain affects a significant number of individuals living worldwide. The International Association on the Study of Pain [IASP] and the European Federation of the IASP Chapters [EFIC] indicates that one in five people suffer from moderate to severe chronic pain, and one in three are unable to maintain a lifestyle of independence due to their pain (World Health Organization [WHO], 2004). The WHO identifies that pain relief is an integral right for individuals to attain the highest level of physical and mental health (2004). The Committee on Advancing Pain Research, Care, and Education at the Institute of Medicine [IOM] (2011) examines pain as a public concern. The report concluded that chronic pain affects the lives of about 100 million US adults, “more than the total affected by heart disease, cancer, and diabetes combined” and is a national challenge (2011). Pain is a subjective physiologic phenomenon that cannot be objectified or verified and is often un-assessed, un-diagnosed, and undertreated. This stands as a serious public health concern because individuals experiencing chronic pain are at great risk for decreased functional status and quality of life. Additionally, individuals living with chronic pain experience the common co-morbidities of depression, anxiety, and anger (Wilsey et al., 2008). The IASP/EFIC data from WHO (2004) concludes that one in four individuals experiencing pain, report that relationships with family and...

Words: 1382 - Pages: 6

Free Essay

Job Seeking

...DEVANABOINA SAI LAKSHMI AKHILA 11-13-46, Near Old Check Post, Phone: +918143317978 Ramireddypet, Narasaraopet, Guntur District, Email: akhila.devanaboina@outlook.com ------------------------------------------------- Andhra Pradesh, India-522601. CAREER OBJECTIVE: To enhance my professional skills and capabilities in an organization, where I can be a part of an enthusiastic and hard-working team of skilled individuals. EDUCATIONAL QUALIFICATIONS: * Bachelor of Technology in Computer Science 78.49 % (May 2016) Krishnaveni Engineering College for Women (Jawaharlal Nehru Technological University) * Intermediate Education 73.20 % (May 2012) Bhavana Junior College (Board of Intermediate) * Secondary School Certificate 74.50 % (May 2010) St .Joseph’s High School (Board of Secondary Education) TECHNICAL SKILLS: Languages : C Programming . Operating Systems : Windows XP and Windows 7. Basic Computer Skills : MS Word, Power Point and Excel. PAPER PRESENTATIONS TOPICS: * Wi-Fi technologies...

Words: 288 - Pages: 2

Free Essay

Compare and Contrast of Charlie and Holden

...Holden and Charlie In both the novels Salinger’s Catcher in the Rye and Chbosky’s the perks of being a wallflower, the main characters Holden Caulfield and Charlie are troubled teens. Although they were teenagers in different time periods they shared many similar teenage difficulties. Both novels portray a male protagonist growing up while struggling to find his identity, while loathing their lives. Thus both novels are of the coming of age genre. Both boys are socially awkward and are not able to integrate into society. In this case, Charlie is insulted by senior students of his high school, “God, that kid is such a fucking freak,” (Chbosky 145). Throughout the novel Holden and Charlie strive to become a part of society. While Charlie tries to integrate with society, it seems that Holden rejects it and wants to create a new society that suits him more. With the downs of life they find a way to cope with the failure of being accepted which leads to a self-destructive behavior. Such behavior tends to lead to the use of drugs, alcohol and violence. However similar they may seem, they also share many differences which are responsible for the differing results of their outstanding social statuses. While Holden avoids his problems, Charlie chooses to confront them and this is partially why Charlie becomes socially accepted. Despite their resembling problems, they also differ greatly in lifestyles. While Holden comes from a rich family and goes to a prestigious private school, Charlie...

Words: 2014 - Pages: 9

Free Essay

Solutions to the Weaknesses of Globalisation and Corruption

...ABSTRACT This paper is intended to provide critical responses to the weaknesses of globalization and corruption in the world that we are currently living based on the mixed economic worldview which is my personal economic worldview which threatens to undermine the stability of economic and political development on both a national and global scale, and which requires both immediate and wide-ranging policy interventions. The recent concern with corruption is attributable, not to any substantive increase in corrupt practices, but rather, to the re-framing of corruption in light of broader shifts and transformations within the global economy. The historical context of globalization covers centuries. This paper reviews the types, forms as well as the consequences of corruption. The paper also reviews the issues associated with globalization and the effect it has on the lives of various individuals. It questions the view that, under certain conditions, corruption may enhance efficiency and argues that though corruption may benefit powerful individuals it will indubitably lead to greater inefficiency and a waste of resources at a macro-economic level. Table of Contents ABSTRACT i INTRODUCTION iii BACKGROUND iv Forms of Corruption vi 1.1 Bribery vi 1.2 Theft and fraud vi 1.3 Embezzlement vi 1.4 Nepotism vi 1.5 Conflict of Interest vi 1.6 Favouritism vii Types of Corruption vii 2.1. Grand corruption vii 2.2 Political corruption vii 2.3 Corporate corruption...

Words: 5314 - Pages: 22

Premium Essay

Siemens Bribery Scandal Case Study

...Case Study: Siemens Bribery Scandal 1. Corruption was deeply embedded in Siemen’s business culture. They rationalized this corruption by stating that it was not illegal to initiate bribes to government officials. This was true, however not anymore, the law changed in 1999 prohibiting such acts of corruption. 2. If a manager at Siemens would have stood up and took a stand against corruption, I think that he/she would have most likely been fired for being insubordinate. The higher executives that were promoting such bribery would have wanted these managers to go along with what they were doing. The manager could have also been demoted possibly, or just plain and simple reamed out by the higher executives. 3. Siemens spent extra money to secure future business investments. This in, in turn, means that other companies, even ones that might have an advantage, lose business opportunities. The entire concept of such corruption completely disregards competition, because it simply removes it, unless other companies also engage in bribery. 4. Some economists argue that doing such practices such as bribery is the price that must be paid to perform a greater good. They support this claim by stating that it can promote efficiency and growth in countries that have pervasive and cumbersome regulations, and may also enhance welfare in countries that have preexisting political structures that distort the workings of the market mechanism. On the other hand other economists...

Words: 426 - Pages: 2

Premium Essay

Corruption: Where Does It Start?

...Corruption is a social disease that entails social justice that plagues many developing countries today. Corruption is just as multifaceted concept as there are societies and economic and political systems that embraces from the broad concept of corruption to the narrow legal concept of bribery. Corruption is the abuse of public office for private gain and the abuse of public power for private benefit. A well known definition of corruption is the one of the World Bank which considers it is the abuse of public office for personal gain. “Corruption has been broadly defined as the misuse of public office for private gain and the abuse of entrusted power” (Vargas-Hernández, 2011, p. 270). This paper will identify the root causes of how corruption starts? Corruption takes place when an individual tries to gain personal gain through an unfair advantage of someone else's condition, status or position. It occurs when a product, accommodation or activity's reality is altered in a manner in which another person is endangered or cheated. Corruption is a symptom of other fundamental causes (Xin & Thomas, 2004, p. 297).Widespread corruption is a symptom of inefficient administration. Corruption starts, firstly, when a country or state allocate scarce benefits to individuals and firms predicated on strict licit criteria, rather than on need. In such cases, bribes clear the licit hurdle. Secondly, Low pay and inadequate monitoring of their performance. In such cases, bribes...

Words: 282 - Pages: 2

Free Essay

Seeking Asylum

...Seeking Asylum: The Buffalo State Hospital In American architecture, one thing rang true: America borrowed from the greatest countries and empires. Throughout much of the early years of the United States, there was not a singular distinct type of architecture, both in the domestic and public sectors. Borrowing from well-established counties became a second nature. Hunting and pecking through thousands of years of pre designed architecture helped American architects, like Henry Hobson Richardson, grab the best of the best and led them to create marvelous masterpieces. From Greek and Roman flares to the beauty of Queen Anne and Federal style, American architects have waded through them all. By doing so, elaborate and attractive buildings began to pop up through much of the United States Eastern Seaboard. One of the most influential American Architects to come out of this time period is Henry Hobson Richardson. He helped develop a definite American Style of architecture and one of the most important. His influence on building design has made an impact on such architects as Frank Lloyd Wright and Louis Sullivan. Siegfried Giedion, author of Space, Time and Architecture, states that “Richardson’s study of historical precedence- in this case Romanesque buildings-led to the design of the new forms Richardson was after.” Henry Hobson Richardson was born in a Louisiana Parish on September 29th, 1838 to Catherine Priestley and Henry Richardson. He was born into a well-to-do...

Words: 5002 - Pages: 21

Premium Essay

Proximity Seeking Analysis

...In chapter two of the article, proximity seeking can keep interpersonal and place attachment. “Thus, for both interpersonal and place bonds, proximity seeking can provide safety and comfort” (Scannell and Gifford, 26). This quote is important, because it shows a clear definition of proximity seeking. In addition, it shows one of the similarity between interpersonal and place attachment. In my onion, we can benefit from proximity seeking. Interpersonal attachment will either activate or deactivate. If there are any threats it will activate, otherwise, deactivate. Proximity seeking will allow us trust in someone and they become our attachment figure. For example, friends can be attachment figure. A friend is someone who advises you in the direction,...

Words: 279 - Pages: 2

Free Essay

Seeking a Higher Good

...Wesley Kivett World Religions December 11, 2011, Darin Metz Seeking the Highest Good Breaking down the religions of this world has been a task of mankind for centuries. Theologians and Philosophers have studied the very core of many world religions trying to find the similarities between the religions. Debates and many of hours have been put into this research trying to find out who is right and who is wrong. When we look at three of the leading religions of the world, Taoism, Confucianism, and Christianity there are similarities and differences between them, but the meaning in which they are taught are very different. Since the beginning of time mankind has always been seeking for a greater understanding of life and what our purpose is here on earth. Many have written books on how to find the meaning of life and how to focus on your purpose, or could we say, seeking a higher good. As we look at these three religions it is difficult to even begin to see how three religions that are so far apart can find common ground. Taking each one of them individually and trying to pinpoint their relationships can be very challenging. Lao-Tsu (570-490 B.C.) wrote the following on the highest good in his Tao Te Ching: "The highest good is like water. Water gives life to the ten thousand things and does not strive. It flows in places men reject and so is like the Tao. In dwelling, be close to the land. In meditation, go deep in the heart. In dealing with others, be gentle...

Words: 1176 - Pages: 5

Free Essay

Seeking Good Council

...1 Kings 12 - Rehoboam and Jeroboam A. Rehoboam and the division of Israel. 1. (1-5) the elders of Israel offer Rehoboam the throne of Israel. And Rehoboam went to Shechem, for all Israel had gone to Shechem to make him king. So it happened, when Jeroboam the son of Nebat heard it (he was still in Egypt, for he had fled from the presence of King Solomon and had been dwelling in Egypt), that they sent and called him. Then Jeroboam and the whole assembly of Israel came and spoke to Rehoboam, saying, "Your father made our yoke heavy; now therefore, lighten the burdensome service of your father, and his heavy yoke which he put on us, and we will serve you." So he said to them, "Depart for three days, then come back to me." And the people departed. a. Rehoboam went to Shechem, for all Israel had gone to Shechem to make him king: This was a logical continuation of the Davidic dynasty. David was succeeded by his son Solomon, and now Rehoboam, the son of Solomon, was assumed to be the next king. i. Rehoboam was the only son of Solomon that we know by name. Solomon had 1000 wives and concubines, yet we read of one son he had to bear up his name, and he was a fool. This demonstrates that sin is a bad way of building up a family. ii. Shechem was a city with a rich history. Abraham worshipped there (Genesis 12:6). Jacob built an altar and purchased land there (Genesis 33:18-20). Joseph was buried there (Joshua 24:32). It was also the geographical center of the northern tribes. All in...

Words: 3694 - Pages: 15

Free Essay

Seeking-Behavior of Aetas

...THE FENCE Jose Garcia Villa Chimelle Almira AB-3B Mary Joy Galeno AB-3B 1st reader: They were separate worlds; two opposing planets so near together that their repulsion had become stifled and in its repression become more envenomed. 2nd reader: Two women had built that fence. Two tanned country-women. One of them had caught herhusband with the other one night and by that incident Aling Biang gathered some bamboos to build the fence and then, that’s how it all started. 1st: Pok,Pok, Pok, sounded her crude hammer. Pok, Pok, Pok-Pok, Pok, Pok. When her husband asked her what she was doing, she answered, “I am building a fence.”   2nd: “What for?” he asked. 1st: “I need a fence.” 2nd: And then, too, even Aling Sebia, the other woman, a child-less widow, asked inoffensively, “What are you doing, Aling Biang?”  1st:“I am building a fence.”   2nd: “What for?”  1st: “ I need a fence aling Sebia. Please do not talk to me again.” 2nd: and the fence was completed, oily perspiration wetting the brows of the women, they gazed pridefully at the majestic wall that covers them. 1st: not long after the completion of the fence aling biang’s husband disappeared and never came back. 2nd: one night, from beyond the fence, aling biang heard cries from aling sebia. 1st: the cries of the other woman made her uneasy . “ what is the matter with you aling sebia?” 2nd: “ aling biang please go to the town and get me a hilot.” 1st: “what do you need a hilot for?” 2nd: “ I am going to...

Words: 577 - Pages: 3