Law School Rankings from Princeton Review

As reported by the National Jurist, The Princeton Review’s new law school rankings are in, and while some listed are generally found at the top, other names might surprise you. The rankings mostly draw from student surveys from 167 law schools, with a few also stemming from statistical data, and result in 11 top 10 lists in different categories. Here are the law school winners in each category: Best Professors – Boston University Best Career Prospects – Northwestern University Best Classroom Experience – Stanford University Most Competitive Students – Baylor University Toughest to Get Into – Yale University Best Quality of Life – Duke University Most Chosen by Older Students – University of New Mexico Most Diverse Faculty – Southern University Best Environment for Minority Students – University of Hawaii at Manoa Most Conservative Students – Ave Maria University Most Liberal Students – Northeastern University Accepted.com ~ Helping You Write Your Best //

Corporate Governance and Risk Aversion - Free Essay Example

Sample details Pages: 6 Words: 1917 Downloads: 1 Date added: 2017/06/26 Category Management Essay Type Narrative essay Did you like this example? Corporate Governance and Risk Aversion. Corporate governance defines the infrastructure of an institution. It is a system or practices, rules and procedures by which a company is controlled and directed. The role of corporate governance is to balance and align the interests of all stakeholders in a firm. These are the shareholders, the management, the customers, the government, the suppliers and the community impacted by the business unit. Corporate governance provides the framework for realizing the goals and objectives of a company. The main goal of any company is to give maximum returns for investment. Corporate governance lays down the internal controls, corporate disclosure mechanisms, action plans and performance evaluation mechanisms for the achievement of the firms’ objectives. Through efficient corporate governance the company demonstrates its ethical elements, environmental awareness and impressive corporate citizenship. Risk aversion is an economic s and finance concept that describes the attitude towards risk of different players in a business setting. It explains the behavior of investors in an attempt to reduce uncertainty when exposed to uncertainty. Risk aversion is the reluctance of an investor to accept a given bargain with uncertain returns as opposed to another bargain with certain returns but possibly lower. For instance an investor XYZ, with $50,000 may decide to put all this sum in a bank account where he will earn low but guaranteed interest as opposed to investing the $50,000 in stocks, where he is likely to have high expected returns but also high risks e.g. chances of losing all the $50,000. A risk averse investor dislikes risk. Therefore, he will stay away from high risk investments but this has the disadvantage of losing out on higher rates of returns. Such investors usually stick to safer investments like government bonds and index funds which have considerably low returns. There are three basic attitudes towards risk by investors. Some investors are risk averse or risk avoiding. Such investors will only accept a bargain where they are certain to make returns. Some other investors are risk loving. Such investors will accept a bargain even when there is no guarantee that they will make any returns. Such investors stand to make high returns for their investment though there is a high risk of losing all the investment. Other investors are risk neutral. Such investors are indifferent whether there is certainty to reap returns or not. In such scenarios the expected returns from an investment is known as the expected return, the expected returns with a high margin of certainty is known as certainty equivalent and the difference between the two is known as the risk premium. In any business corporation for successful operations the interests of the managers must be perfectly aligned to those of the shareholders. This must be clearly brought out in corporate governance. In this case the m anager who is the employee of the shareholders is known as the agent and the shareholder who is the employee is known as the principal. The shareholders invest their money in a firm. Unlike the shareholders the managers do not usually have any of their money invested in the business. The managers must always invest in a way that the shareholders get the maximum returns for their investment. They must also completely eliminate any losses. In order to achieve these objectives there is the need by the managers to minimize risks and make prudent corporate investment decisions. In order to meet with the shareholders expectations most managers tend to be aligned to risk aversion. By so doing they advance their own interests at the expense of the interests of the shareholders. This is a safe alternative that guarantees returns with a minimal margin of uncertainty. However this is not the best model because the rate of returns is usually lower. This kind of a scenario is called a principal agent problem in economics. In order to deal with the principal agent problem, one of the best responses is the shareholders increasing the monitoring on the management. This can be achieved through thorough scrutiny of the managers’ work by the shareholders. However, this is not practical because it is very expensive in terms of the shareholders time and resources. This necessitates the need for a more direct way to deal with the problem. The solution of this issue needs to be facilitated by corporate governance. The element of corporate governance that helps to align the interests of the shareholders with the interests of the managers is contained in the contract design. It is the most appropriate way of dealing with the principal agent problem and avoiding risk aversion. This is usually done in the initial stages of engagement of the managers and the shareholders. Both economic actors, i.e. the shareholders and the managers, can construct the contractual arrangements in a way that discourages risk aversion. This is achieved by using the information available and finding theoretical procedures to model or design the contract in a way that it motivates the managers to make appropriate decisions. The contract design that is successful is the one that comes up with plans to align the interests of the shareholders with the interests of the managers. One popular policy among firms that is incorporated in the contract design is granting stock options to employees. This is mainly for the employees in the upper management. The stock options are part of the employees compensation based on performance. The value of the stocks usually rises as the value of the company’s stock rises. As a result the financial well-being of the firm is directly tied to the recipient of such a stock option. As a result the managers are motivated to put in more effort in the growth if the company since this directly translates to more returns for them. It has also be en shown that the stock option instills a sense of responsibility in the employees since they now own a part of the firm hence they become obliged to ensure upward growth of the firm. They are also motivated to make prudent corporate decisions involving high returns but high risks because they know they stand to gain a lot if the high risk high returns investment succeeds. Therefore, this helps to avoid risk aversion. Another policy that is incorporated into the contract design to successively curb risk aversion is where the shareholders pay the manager a wage that is way above the market wage. This is usually referred to as an efficiency wage. This policy is known as the Shapiro-Stiglitz model. It was developed by Carl Shapiro and Joseph E. Stiglitz in 1984. This model is aimed at preventing the workers from being lazy or slacking off. The opportunity cost of getting fired is the lost wages which the employee is unlikely to get anywhere else. This induces the employee not to sla ck. Also, if one firm pays efficiency wages, then all firms in the same industry are likely to be compelled to pay the efficiency wages too in order to compete for workers. As a result all the wages in this case are above the market wage level leading to involuntary unemployment of workers in this industry. This has the effect of diminishing the chances that a fired worker will find another job after being fired. Therefore, the employee is compelled not to slack. This also discourages risk aversion because the employee is bound to perform exemplary and risk aversion can’t achieve that. Another policy that is incorporated in contract design to successfully mitigate risk aversion is performance-based remuneration. In this model the performance of the employees is benchmarked and the employees are compensated according to the value of the work done. A common way of doing this is trough commissions. The output value of the worker is determined. The worker then gets a percentag e of the total returns as compensation. This way the worker is motivated avoid tax aversion in order to be more productive. The productivity of the worker will be directly reflected in the workers compensation. Another form of performance based contract design is provision of employment on condition for performance. Under such contractual arrangement the worker is not employed indefinitely. The employment is time based with possible renewal of employment after a given time or sacking. For instance, a manager may be employed by the shareholders for one financial year with the condition of achieving a 10% growth on the company’s revenue within that period. If the manager has achieved the growth stated in the contract by the end of the year, the employment contract will be renewed. However if the manager does not achieve the growth as stipulated in the contract he will be fired at the end of that financial year. Therefore, in order to retain the employment status, the employe e is bound to perform. This has the effect of discouraging risk aversion in the sense that for high returns the employee needs to be a risk lover in order to maximize revenue. Another policy incorporated in the contract design in order to discourage risk aversion is the provision of incentives. The most common incentive is the bonuses. Under such a contractual arrangement the employee usually receives a monetary compensation in addition to the salary. This is given as a token for good performance. The employees who do not meet the criteria set in the contract for eligibility to receive the bonus do not receive the bonus. This ensures only the hardworking employees are rewarded. This helps to create competition in a firm. The competition is constructive to the firm in the sense that the productivity will be enhanced across all workers in their endeavor to receive the bonus. It also has the effect of discouraging risk aversion as all employees will employ the techniques that bring high returns to the firm. Risk aversion brings low returns hence it will be unpopular among workers desiring to qualify for the bonus. Another contract design policy that helps to align the interests of the workers to the interests of the shareholders is the use of seniority wages. This is the payment of higher salaries for the members higher in the management hierarchy. Initially the workers are hired at a lower rate. As their productivity increases, they demonstrate their value to the company. Consequently their rank in the company rises and so does their salary. This motivates the workers to be aggressive in order to be more productive therefore rising in rank. It also creates healthy competition in the firm and this has the effect of discouraging risk aversion. Finally another common policy which is modeled into the contract to discourage risk aversion is the use of non-monetary incentives. This includes awards and honors, promotions and recommendations. The criteria for e ligibility for each of these rewards, is clearly laid down in the contract. The awarding of these rewards may be based on performance, consistency and innovation in the respective fields. Such awards usually earn an employee peer respect and are also of a great advantage in a case where the worker wants to seek employment in another company. Therefore, a worker can do all possible in order to qualify for the award e.g. the employee of the year award. Other than creating competition in a company, such incentives also encourage workers to be more productive as they will be recognized. Consequently risk aversion is discouraged in the employees, since they seek maximum productivity, which is only achievable through high return but high risk methods otherwise unpopular with risk averse employees. Don’t waste time! Our writers will create an original "Corporate Governance and Risk Aversion" essay for you Create order

Cyber Bullying Essay - 1208 Words

In the world today, most people are interacting with other people on some form of social networking site. In many cases, people who have nothing else better to do with their lives will try to bully certain people. The people that the bullies have aimed for have one of two options. The first option is to delete the person or just do not message them back. The second option is to give in and let the bully start bullying you. The people who gets bullied are always weak in some way whether it is the fact that they have low self-esteem or they just cannot stand up for themselves. There needs to be an update to all of the major social networking sites that has some kind of link that you can click on to report people that is bullying†¦show more content†¦Over eighty percent of teens use a cell phone regularly, making it the most common medium for cyber bullying. Sixty-eight percent of teens agree that cyber bullying is a serious problem. Eighty-one percent of young people think bullying online is easier to get away with than bullying in person. Ninety percent of teens who have seen social-media bullying say they have ignored it. Eighty-four percent have seen others tell cyber bullies to stop. Only one in every ten victims will inform a parent or trusted adult of their abuse. Girls are about twice as likely as boys to be victims and perpetrators of cyber bullying. About fifty-eight percent of kids admit someone has said mean or hurtful things to them online. More than four out of ten say it has happened more than once. About seventy-five percent have visited a website bashing another student. Bullying victims are two to nine times more likely to consider committing suicide. (Do Something) Bullying is very difficult to deal with, no matter what age you are. If you are an adult, you are being bullied, and you are not doing anything about it then you have a serious problem. These days if you are between the ages of seven to eighteen cyber bullying are at a completely different level and it does a whole lot to you emotionally and physically. When you are these ages, it is very hard to deal with because you are at the age where you do not want to tell anybody thatShow MoreRelatedBullying And The Cyber Bullying Essay1010 Words   |  5 PagesIDENTIFICATION PROBLEM STATEMENT BACKGROUND Cyber bullying refers to something when one uses their cell phone, computers or an electronic device to access internet and technology for the purpose of harassment and providing harms to others. Sending inappropriate messages, uploading disturbing images, threatening and posting something without someone’s’ approval are the forms of cyber bullying. 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Essay1175 Words   |  5 PagesTopic: Cyberbulling is Very Serious Cyber bullying by definition is the use of electronic communication to bully a person, typically by sending messages of an intimidating or threatening nature. This occurs mainly among young people ages between 13- 18. Base on my research I found out in the past decade, there have been multiple cyberbullying cases that ended with the victims taking their own lives. I believe there is more we can do to help with this issue. There is information out there that isRead MoreCyber Bullying And Its Effects1411 Words   |  6 PagesStudies indicate that cyber-bullying incidents have quadrupled in past five years (Ross). Cyber-bullying has become a huge issue recently. Every time you turn on the news there is another bullying, or a suicide related to bullying, incident being reported. â€Å"Love is louder† has been a common phrase among celebrities and influential figures lately. They are trying to send out a message to their followers saying that bullying is not right and should not b e tolerated. The expansion of communication technologiesRead More Cyber Bullying Essay1447 Words   |  6 PagesHalligan kill[ed] himself after months of harassment, including instant messages calling him gay† (Billitteri.) Cyber bullying is much more dangerous than traditional bullying, and should be punished with much stricter guide lines, not just within schools but within criminal courts as well. Traditional bullying was done on school grounds, at the bus stop, or walking home, but today cyber bullies leave teens vulnerable to the abuse with no place to seek refuge. â€Å"Its a non-stop type of harassmentRead MoreThe Issues Of Cyber Bullying946 Words   |  4 Pages Coastal Carolina University The Issues of Cyber-bullying Alyssa Staub CSCI 101 – D1 Professor Matthews October 23, 2017 â€Æ' Cyber bullying has been a topic for scholarly inquiry, political debate, and policy reform since the commercialization of the Internet. Pre-internet bullying involved socially marginalized children and teenagers picking on their friends and other marginalized children at school. Traditional discipline included detentions, phone calls to their parentsRead More Bullying Evolution: Cyber-bullying Essay1869 Words   |  8 Pagestheirs, constantly picking on them and sometimes even inflicting physical abuse. Well I hate to break it to you but this individual is back and is more equipped than before, preying on the weak and vulnerable in the cyber world (internet). Most recently, it took a crime wave of â€Å"cyber bullying† before our media and leaders in the Untied States gave it attention; now that the American people realize that the â€Å"classroom bully† has evolved into a more dangerously clever and sinister inflictor of emotionalRead MoreBullying Vs Cyber Bullying E ssay2021 Words   |  9 PagesBullying is a major problem that impacts many teens over generations, causing an endless cycle of bullying. With the new age of technology, this leads to new issues that are affecting teens’ lives. One of these issues is that cyberbullying is quickly becoming more common than the traditional playground bullying, as more social media are appealing to teens. Cyberbullying is a type of bullying that happens using electronic devices such as phones, laptops, and tablets. This form of bullying includes

Essay on Performance Enhancing Drugs - 1810 Words

Performance Enhancing Drugs (PED’s) In all areas of sports, professional, college, and even high school, there is widespread illegal use of performance-enhancing drugs. It seems like you can’t go more than a week without hearing about somebody’s PED problems. Although there are many reasons for athletes to choose to use these drugs, the cost of such use, both to the athlete and to society can be extraordinarily high. The question that many people must answer to themselves is â€Å"is it worth the risk†. Therefore, it is important to understand why performance-enhancing drugs are used, the consequences of their use, and then apply that knowledge to how they are represented in the media. The first thing that we have to look at is why many†¦show more content†¦Animal studies also found that fat mass was reduced, but most studies in humans failed to elucidate significant fat mass decrements. The effects on lean body mass have been shown to be dose dependent. 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An Organizational Profile Of Toys - 3316 Words

An Organizational Profile of Toys ?R? Us Juadia M. Tabio University of Louisville Professor Bradley Carpenter, Ph.D. Leadership and Management ELFH 490-91 May 15, 2015 Running head: TOYS ?R? US 13 Introduction Imagine a place where kids rule the aisle, the parents smile at the joy in their children?s eye and a memory is forever etched as they walk out the store and the child begins to sing ?I Don?t Want to Grow Up, I?m A Toys ?R? Us Kid.? This magical place for children was established in 1948 by Charles Lazarus in Washington, D.C, with the name Children?s Bargain. His vision at the time was to ?provide a baby furniture store for the post-war baby boom era.? (History, 2015) Satisfying the customer was his number one obligation as he introduced infant products and toys for children of different ages based on customer demands. After 10 years, Lazarus followed the supermarket model for the store. While opening his second store he settled on the name which all kids love to hear Toys ?R? Us. From there he established community roots, loyalty from his customers, and introduced the iconic mascot Geoffrey. This company has not stopped growing and bringing kid?s smiles and fun sense that day. How this company came to be requires an intense look into its organizational structure through the eyes of Bolman and Deal (2013) and the instrumental strategy of SWOT (strength, weakness, opportunities, and threats) analysis. Bolman and Deal (2013) developed a tool that providedShow MoreRelatedGalaxy Toys, Inc. Company Profile Essay1153 Words   |  5 PagesBMGT 364 Galaxy Toys, Inc. Company Profile Welcome to Galaxy Toys, Inc.! The assessment projects for this course will examine different facets of the management of Galaxy Toys and students will be exploring various scenarios and providing analysis and recommendations from the perspective of a management consultant. Each project has been carefully designed to provide students with opportunities to demonstrate mastery of various management concepts that students have been developing through variousRead MoreToys R Us Swot Analysis1512 Words   |  7 Pagesthis leader should be able motivate his group and team members. David Brandon, CEO of Toys R Us joined the company in July 2015. He has many goals for the future of the company. While it is difficult to take on the many struggles of a company in distress, Brandon made up his mind that he could accomplish the impossible. One of the many challenges he faced was to inspire the workers to believe in his vision of what Toys R Us could be in the future. Others in the organization h ave been openminded to hisRead MoreFinancial Assets Of A Business Organization1505 Words   |  7 Pagesobtained from family, friends, angel investors, or venture capitalists. Businesses are not obligated to pay back the money as investors hope to get back their investment from future profits (Barney Hesterly, 2014). A business that can attract high-profile investors raises its credibility. Borrowing Capacity Borrowing refers to financing obtained through loans that a business must pay back over time with interest. Businesses can borrow money on long-term or short-term basis from government agenciesRead MoreCase Study Analysis of Panda Bear Toys, Caribou Toys and Grizzly Bear Toys1726 Words   |  7 Pagesrespective business background then to the challenges faced, and finally recommended HR practices to improve corporate effectiveness, competiveness and sustainability, this analysis has addressed aforementioned of following 3 toy companies: Panda Bear Toys, Caribou Toys and Gr izzly Bear Toys. With limited background information provided, several studies have been treated as reference in this analysis, especially the studies of Gubman (1995) and Sheppeck amp; Militello (2000),describing the relationship betweenRead MoreCase Study Analysis of Panda Bear Toys, Caribou Toys and Grizzly Bear Toys1719 Words   |  7 Pagesrespective business background then to the challenges faced, and finally recommended HR practices to improve corporate effectiveness, competiveness and sustainability, this analysis has addressed aforementioned of following 3 toy companies: Panda Bear Toys, Caribou Toys and Grizzly Bear Toys. With limited background information provided, several studies have been treated as reference in this analysis, especially the studies of Gubman (1995) and Sheppeck amp; Militello (2000),describing the relationship betweenRead MoreChapter 5 Homework885 Words   |  4 Pagesfraud sufficient to warrant recommending an investigation †¢ Fraud investigation- Performing the extended procedures needed to determine whether fraud has occurred, as suggested by the indicators. b. List four personal (as opposed to organizational) fraud symptoms, or red flags, that indicate the possibility of fraud. Do not confine your answer to this example. o High personal debts or great financial losses o Bragging about exploits o Collectors and creditorsRead Moreâ€Å"It Is Not Knowledge, But The Act Of Learning, Not Possession1246 Words   |  5 Pagesalso won a number of National Science and Mathematics Olympiads during the course of same. Besides, I regularly explored the practicality of theorems taught in class by developing live science projects like a Gauss rifle with magnetic power-train, toy cars powered by flywheel inertia and various computer games with the help of computer programming. Owing to my interest in Physics and Mechanics along with a desire to contribute to the vast field of Mechanical Engineering, I worked hard to clear anRead MoreInformation And Handling Of Customer Conversations1607 Words   |  7 Pagesconversation is one of them. By asking a question is another form of conversation which is called net promoter. According to Tobe, no matter what your customer reviews are, sometimes bad customer service feedback can be a positive impact for an organizational perspective, hoverer, we all know about Comcast bad customer service reputation made the organization number one service provider throughout the America (Tobe, 2017). Sometimes customer emotion can be a customer bad or god feedback, so never alwaysRead MoreHasbro Inc2626 Words   |  11 Pagescurrently the second largest toy maker in the United States, ranked only behind Mattel. The company designs and manufactures a diverse line of toy products and related items throughout the world, including t raditional board games, electronic and interactive CD_ROM games, puzzles, action toys, plush products and infant products. Hasbro also licenses a number of trade names and property rights for use in connection with the sale by others of noncompeting toys and non-toy products. (Novel guide, 2010)Read MoreAttention Deficit Hyperactivity Disorder ( Adhd )1710 Words   |  7 PagesAccording to the Diagnostic Criteria from DSM-IV-TR, the primary characteristics of inattention include difficulty paying attention to details or activities, the inability to listen, the inability to follow through on or finish tasks, difficulty in organizational skills, lack of involvement in tasks involving mental effort, and distractibility and forgetfulness . The primary characteristics of hyperactivity consist of fidgeting, squirming, excessive leaving of seats, running or climbing around in inappropriate

Glass Roses free essay sample

What does a child have to go through to have the courage to live his life for himself? The Glass Roses by Alden Nowlan highlights the conflicts within the main character, Stephen, a fifteen-year-old scrawny teenager working with his father in the woods. He has been brought up in an environment where there is a predetermined set idea of what It means to be a mam The protagonist either has to follow in the footsteps of his father or pursue his desires to embrace others and show compassion. The friendships he develops and the ideas he grasps from his so called outcast partner named Leka teach him more about growing up then his father ever did. But what really troubles Stephen is mustering up enough courage to change what the preconceived notion of what being a man really means and if those around him are willing to accept what being a man means to him. We will write a custom essay sample on Glass Roses or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page A glass rose can be seen as a fragile replica of what a real rose actually is. Glass needs to be handled with care, it is weak and is not given the same admiration and appreciation as the ones we find in nature. Although this Is completely up to the person, ltx safe to say that I speak for the majority of people. Earlier in the story Leka has nightmares and twists and turns in bed as the night goes on and Stephen always is there to wake him up. Stephen is the only one to do so among all the men. This shows that he Is undoubtedly the most caring of the group, and showing any kind of emotion isnt something his father would approve of. I believe that he truly cares for others but must only do so openly a man. Theres a part in the story where Leka and Stephen are getting along and begin to regularly speak softly to one another at bed time. Stephen wants to be just like his father but doesnt want to change in order to do so. Its clear that he has soft side, Men did not tell one another fairy tales about cathedrals. But his father and the men at the bunkhouse need never know. This line makes me think about Stephen as having a split personality, one being an aspiring prodigy of his father, the other being a completely different individual yearning to be himself. It appears as if he has to act a certain way and if he acts any different, he forces himself back into that narrow mentality. I feel sorry for him and the fact that hes struggling so much to find himself while having the expectations of his father watching over him and breathing down his neck as he lives his life. All this makes him panic in the face of decision and a hesitant Stephen always turns back to his fathers notion of a man when in doubt. I always had friends in my age group so my parents werent really concerned about older kids taking advantage of me. I also have learned that parents can always see things in others that we may not see for ourselves in our younger ages. Towards the end of the story, Stephens father pulls him aside and speaks to him seriously about his concerns of Leka. He mentions the touchy gestures he uses when he speaks such as pat and poke, things that Stephen never really picked up on. Once again it makes e think of the homosexuality hidden in the friendship they have and maybe that is why they outcast Leka. Them Wops and Bohunks and Polacks has gotta lotta funny ideas. They aint our kinda people. You gotta watch them in this line he hints to his son that Lekas intentions may not completely be friendly. Having to be told about one of his own friends is the same as questioning his own decisions, kind of like questioning his manliness. Just make that Polack keep his hands off you. IVe seen fellers like him before. As much as it is fatherly to look out for your son, it makes Stephen feel like less of a man. All this talk gets into his head, I know this because I know if my father was this concerned about one of my friends it would definitely about waking Leka during his nightmares. The story ends and personally I believe that Stephen has decided to take the risk of becoming a man outside of the beliefs of his father and co-workers. Hes brought it upon himself to define what it means to grow up for himself, his own choices give detail to his character and knows that nobody but himself needs to be satisfied in order for him to live his life. The final decision of waking up Leka shows me that he hasnt changed and trusts his own intuition.

Sociology Final Exam free essay sample

Social class is a â€Å"class society, a set of concepts in the social sciences and political theory centered on models of social stratification in which people are grouped into a set of hierarchical social categories†( Grant,2001,p. 161). The most common being the upper, middle, and lower classes. The upper class consist of people or families that represent institutional leadership, heads of multinational corporations, foundations, and universities. They are people who have finical stability and are well educated due to their finical income. Most commonly in American society today people fall in the middle class category. Middle class is made of people and families that are involved in clerical work, provide professional support, and engage in data collection. Even though they are educated based on local school systems they are not given the luxury education that you would fine with upper class. Last but not least you have the lower class. The lower class is commonly the hardworking of them all. They work full-time at wages below poverty line and commonly are on some type of social services help such as Medicaid or food stamp program (EBT). Even though they are entitled to education they commonly would rather work to just get by day to day due to finical struggles. Based on these classes’ people in today’s society have certain criteria that are used to determine ones place within the social class scale. Three most common criteria used to measure social class is wealth (property), power and prestige. Wealth consists of the property and income that a person or family possesses. The more finical income you have the higher you move up on the social class scale. With wealth also comes with ownership of material items that influences a persons social standing. Social standing has to deal with the certain amount of power that an individual may have due to his/her finical income. People with power become a great deal in today’s society. It identifies ones individual knowledge of their circumstances such as their reputation amongst certain communities or family’s. Being able to have power comes with the advantage of making others do what you desire, even if they do not want to do it. With power also comes prestige. Prestige is usually the respect people have for a person because of their occupation. Prestige is often derived from property and power as people tend to admire the wealthy and powerful. This is very important because it provides financial rewards, stability and benefits like healthcare. Commonly someone’s occupation such as being a â€Å"doctor† would have more respect rather than someone working at McDonalds making burgers. It’s unfortunate that in today’s society we have to categorize people based on their status of power and finical situation. Everyone is unique in their own way, not because of how much money you have or due to your lack of education. Everyone should be treated equal regardless of their finical situation. 2. ) Define social stratification and discuss the four systems of social stratification. Social stratification is â€Å"the division of large numbers of people into layers according to their relative property, power, and prestige. It affects every society and its members, although some societies having greater stratification than others. In every society in the world gender has been or continues to be a basis for social stratification. However, in no way is gender the sole basis for stratifying people† (Rasmussen,2014). Example of social stratification is the caste system in India. The caste system in India can be described as an elaborately stratified social hierarchy distinguishing India’s social structure. The caste system is used to specify a group of people having a specific social rank. The Indian term for caste is jati, and generally designates a group that can vary in size from a handful to many thousands. There are thousands of jatis each with its own rules and customs. However it is the same when it comes to social stratification here in the U. S. People are divided into different levels of social status according to their wealth. Wealth is usually associated with prestige, but not always. For example, a plumber makes more money than a professor, but a professor has more prestige than a plumber because a plumber is a blue collar worker. When coming up with the division between people there is a system that put individuals in place to categorize ones social stratification. Four major classifications of social stratification is slavery, caste, estate and class. These four major social stratifications come together and form some type of people systematically experience advantages in society while other types of people are systematically disadvantaged in our society. Some members of our society are thought of as haves, and others are thought of as have-nots. It determines who is socially advantaged and who is included among the ranks of the socially disadvantaged is based, in part, on certain characteristics these individuals possess and, in part, on how society values or devalues these characteristics. Slavery is the one characteristic that faces the most disadvantage. Slavery is a system of stratification in which one person owns another, as he or she would own property, and exploits the slave’s labor for economic gain. Slaves are one of the lowest categories in any stratification system, as they possess virtually no power or wealth of their own. Many Americans view slavery as a phenomenon that began with the colonization of the New World and ended with the Civil War, but slavery has existed for a very long time. Slavery appears in the Old Testament of the Bible. It was also a common practice in ancient Greece and Rome. The most common assumption about slavery is that it is generally based on racism. Though racism was the primary cause of slavery in the United States, it was not the main reason that people in other areas were enslaved. Reasons for slavery include debt, crime, war, and beliefs of inherent superiority which can be seen in the new hit movie twelve years. The caste system is a social system based on ascribed statuses, which are traits or characteristics that people possess as a result of their birth. Ascribed statuses can include race, gender, nationality, body type, and age. A caste system ranks people rigidly. No matter what a person does, he or she cannot change castes. People often try to compensate for ascribed statuses by changing their nationality, lying about their age, or undergoing plastic surgery to alter their body type. In some societies, this strategy works; in others, it does not. An ancient stratification system that no longer exists today was the estate system, a three-tiered system composed of the nobility, the clergy, and the commoners. During the middle Ages, much of Europe was organized under this system. Members of the nobility had great inherited wealth and did little or no discernible work. They occupied themselves in what we would term leisure pursuits, such as hunting or riding. Others cultivated interests in cultural pursuits, such as art and music. To ensure that their inherited wealth passed smoothly from one generation to the next without being dispersed to members of the extended family, the nobility of the Middle Ages practiced the law of primogeniture. The word primogeniture comes from Latin and means â€Å"first born. † The nobility’s law of primogeniture stipulated that only a first-born son could inherit his father’s wealth. Members of this stratum developed an ideology to justify their privileged positions, the divine right of kings, which posited that the authority of the king comes directly from God. The king delegated authority to the nobles. Because the king and the nobles were God’s representatives, they had to be obeyed. Clergy is when the oldest son was guaranteed a healthy income upon the death of his father, but other sons had to find their own means of income. Few, if any, were trained for work, so many became members of the Roman Catholic clergy, a body of religious officials. The clergy was very powerful in European society in the Middle Ages, and membership offered long-term job security and a comfortable living. The higher up the ladder a priest went, the more power he had over the masses. The third tier of the estate system consisted of the masses of people known as the commoners. They spent their lives engaged in hard physical labor, with virtually no chance of moving up in society. Final classification system used is class. In a class system, an individual’s place in the social system is based on achieved statuses, which are statuses that we either earn or choose and that are not subject to where or to whom we were born. Those born within a class system can choose their educational level, careers, and spouses. Social mobility, or movement up or down the social hierarchy, is a major characteristic of the class system. The value referred to as the American Dream is indicative of the American social class system. The American Dream reflects what we see as the kind of equality of opportunity that can exist only in a class system. Americans believe that all people, regardless of the conditions into which they were born, have an equal chance to achieve success. Part of the American Dream is the belief that every child can grow up to be president of the United States. Former president Bill Clinton, for example, came from a relatively poor background and grew up in a small town in Arkansas. His father died before he was born, and he was raised by his mother and abusive stepfather. Clinton rose above his humble beginnings to attend prestigious universities, and received a full scholarship to Rhodes,  and enjoy a successful career in politics that began with his election as governor of Arkansas. 3. ) Discuss the eight steps in the research model. With every research project there is a certain model you have to fallow in order to achieve your goal. Even well-known sociologist fallow the steps of the research model in order to achieve their goal on what they are studding in order to provide the world on what they a re thinking. This first step is to selecting a topic. Sociologists choose a wide range of topics, usually those that inspire their curiosity. Example Karl Emil Maximilian (Max Weber) was curious about religion. And wrote a book called The Protestant Ethic and the Spirit of Capitalism. Because of his curiousness on religion and the capitalism of society back then, it drew his attention to research and develop ideas to support his writings. The second step is defining the problem. This includes what the researcher wants to learn about the topic. Example would be a researcher wanting to know more about child obesity in America. What articles and lectures will help him in his research on knowing more about child obesity in America? Third step is to review the literature. What have other researchers published on this topic? What will make yours research different from all the others and what information can be used to support your topic. The fourth step is formulating a hypothesis. This is the chance where the researcher tries to develop a statement about what the researcher wants to find according to predictions from a theory. The fifth step includes choosing a research method. This method is design to help the researcher plan on what information to use to when he’s collecting data for his research topic. The sixth step to the research model is collecting the data. Being able to utilize the method chosen to actually gather information on the topic chosen, keeping in mind that validity and reliability are major concerns when collecting the data. Second to last step is analyzing the results. Testing the researcher’s hypothesis based on the data collected or studying the results to look for similarities, differences, and other patterns. Last but not least sharing the results. After all the hard work ,studding and researching has come to an end it is now to write a report or paper to share with the community and other people who have an interest in the topic that the researcher has studied