Decision-Making Model Essay Example for Free

Decision-Making Model Essay The human decision-making process has been described by the development of several frameworks. The alternative for the maximize utility of the decision is selected by a fully informed, as well as, knowledgeable decision maker in the Rational Model. A satisfactory decision alternative is sought by the decision maker due to the causes of time, information, and space constraints according to the Bounder Rationality Model. It is hypothesized by the Organizational Model that available procedures are used by the decision maker for the solution of problems of decisions in a continuously updated organizational memory. Conflicting values and interests are confronted by the decision makers in the Muddling through Model, and an incremental improvement in the outcome is achieved by the selection of alternative with minimal organizational changes. An intermeshing of problems, solutions, and decision maker interest are represented by decisions that are forced by social and political factors in an anarchistic environment according to the Garbage Can Model. The criteria are met best by the identification of alternative with the use of relationship that is made between the criteria, events, and alternative by the decision maker in the Classical Decision Theory Model. During the selection process, conflicting constraints can be confronted by the decision maker, as intangible or tangible criteria would have to be dealt in uncertain events. The situation is assessed, a single alternative is generated and evaluated, and alternative for a satisfactory solution of the problem is selected by the decision makers according to the Naturalistic Decision-Making Model. Outcomes of the decision-making process are focused by some of the proposed models like Classical and Rational Decision Theory formulations. A limited set of decision activities is highlighted by other models like Bounded Rationality Models and Naturalistic Decision-Making Models. A comprehensive and integrated view of decision-making has been offered by none of the proposals. In addition, not all the situations of the decision-making can be applied with any formulations of these proposals. For instance, operational and tactical decisions can be applied with the Organizational Model. However, strategic decisions cannot be applied with this model due to incomplete understanding of the problem, as well as, limited availability of the knowledge of the problem. In this regard, the most popular model of the human decision-making process has been the three-phase paradigm of design, intelligence, and choice by the Simon. Virtually, all other proposed frameworks have been implied by this most general paradigm. However, an implementation phase of the Simon’s formulation has been concluded with the expansion of such scrutiny. Reality is observed by the decision maker during the intelligence phase. A fundamental understanding regarding the existing problems, as well as, new opportunities is gained by the maker. In addition, the general quantitative and qualitative information is acquired by the decision maker for the addressing of different opportunities, as well as, the problems. In the design phase, a specific and precise model is developed by the decision-maker, by which, the discovered problems and opportunities are examined systematically. Decision alternatives, uncontrollable events, criteria, and numerical, as well as, symbolic relationships will be consist in this model. The ensuing choice phase constitutes of the generation of recommended actions from the evaluation of the specified alternatives by the usage of explicit models logically. The analyses and recommendations are pondered by the decision maker during the subsequent implementation phase. In this regard, the consequences are weighed, and sufficient confidence is gained in the decision-making process. In addition, an implementation plan is developed, financial, human, and material resources are secured, the plan is put into the action. After the implementation of the final choice, the new reality should be observed by the decision maker. In addition, intelligence, design, choice, and implementation should be regarded and followed by the decision maker. Moreover, the need for revisions at preceding phases might be suggested by the phase’s analyses. For instance, adjustments of the previous design might be necessitated by the analyses during the choice. Conceptually, individual or group decision-making is applied with the decision-making process in the same manner. In practice, the communication-intensive aspects of cooperative problem solving must be accommodated by the group decision-making. In addition, voting, ranking, rating, and other consensus-developing methodologies should be supported by the usage of structured techniques. Group and organizational collaboration support should be provided by the development of this consensus. Decision-making model can be operated by the use of a variety of measures. Outcomes are dealt by some measures, and process outcomes are involved by the others. Positive decision outcomes can include: Increases in returns, costs reduction, and increment in the flow of information are some of the examples of the gains in the performance of the organization. When the understanding of a person regarding a current problem, as well as, its solution is developed, the decision-maker’s maturity develops. In addition, the improvement of the general problem-solving skills also results in the maturation of the decision-maker. Objectively, recording can be done regarding the number of opportunities, problems, as well as, alternatives. Experts, as well as, person’s evaluations can assess such efforts and subjective assessments. In expert’s evaluations, practice would be observed by the experienced decision makers and the examinee’s efforts will be rated. In this regard, a structured rating form will be used for its support. The examinees are used by the directed self-examinations, and a facilitator is used for the purpose of guidance. In some decision-making situations, the improvement of the organizational performance becomes impossible due to the competition, internal restrictions, external constraints, and several other factors. Under these circumstances, the main decision outcome will be the learning, training, and various other beneficial side effects during the maturation of the decision maker. Process Enhancements in the ability of a person or group are involved in the process improvements for the implementation of the phases and steps in the decision-making process. Experts, as well as, person’s evaluations can assess such efforts and with the help of subjective assessments. In expert’s evaluations, practice would be observed by the experienced decision makers and the proficiency of the examinee during each phase and step of the decision-making process will be rated. In this regard, a structured rating form will be used for its support. The examinees are used by the directed self-examinations, and a facilitator is used for the purpose of guidance. The use of accounting tools is involved in the process tracing, in which, the decision aid is embedded for the recording, as well as, reporting of the actions of the examinee during the decision-making process. In addition, the process enhancements may be manifested through: The time that is needed during the structuring of the problem by the user is reduced in a hike in personal efficiency. In addition, in a given time period, the number of alternatives is increased during the evaluation of the user, which is also an example of the hike in personal efficiency. The time of the decision-making is reduced, and the amount of pertinent information is increased from the decision-making is an improvement in the personal productivity. Objectively, recording can be done regarding the time and number of evaluated alternatives. Expert, as well as, direct self-evaluations by the activity of an individual or group can assess the amount of pertinent information, wisdom, and knowledge, that is, subjective assessments. In any particular management situation, more importance might be given to the support for some phases, as compared with the support for others. The process should be improved for at least the relevant phases by a given aid in the decision-making process. The decision outcome and process measures have been summarized in the Table 1. In addition, the measurements have been obtained by the available approaches, which have also been summarized in the table. As such, a series of guidelines has been offered by the table for the operation of the decision-making process. For instance, the implementation phase of the decision-making process consists of confidence and commitment of the decision maker. The performance of the decision maker during these steps is measured by the process tracing, expert ratings, and directed self-evaluations, as indicated by the Table 1.

Orlando Furioso Clarifies Vergil’s Ending in The Aeneid Essay -- Orlan

Orlando Furioso Clarifies Vergil’s Ending in The Aeneid  Ã‚     Ã‚  Ã‚   Ariosto adapts and transforms Vergil’s final episode of The Aeneid into his own conclusion in Orlando Furioso. The final scenes in the epics parallel one another in many ways, yet also show distinct differences. Ruggiero and Rodomont represent Aeneas and Turnus, respectively, and the actions of Ariosto’s characters can be interchanged with their corresponding characters’ acts in The Aeneid. Ariosto reminds us of controversy and questions that Vergil elicits in his conclusion and responds interpretively, reshaping the ending and clarifying ambiguities. Does Vergil intend to write such an abrupt, controversial ending? Some critics suggest that Vergil meant to complete the story with a more upbeat, joyous tone, but he died before he completed task. They propose a Book XIII that incorporates a large ceremonial marriage between Aeneas and Lavinia into the story as a "happy" ending. Others insinuate that Vergil purposefully concludes the heroic poem to leave questions for readers. Ariosto incorporates a vast, joyful wedding between Ruggiero and Bradamant into his novel before mimicking Vergil’s ending; he argues that Vergil intended to end where he did. Even though we often yearn to read a "happy" ending, an abrupt, controversial ending provokes more contemplation. Ariosto suggests that Vergil planned to arouse his readers’ minds, and not satisfy their common desire for a "happy" ending, by introducing discord. Does Turnus pose a threat? From one point of view, Aeneas seems to always have the military upper hand, and Turnus seems physically inferior, thus not threatening. However, from a different perspective Turnus is deceptive, thus menacing. When he thinks h... ...this act to remind us how brutal Aeneas is when he kills without hesitation. Ariosto addresses the multiple ambiguities Vergil leaves behind. He indicates that a "happy" ending is not always required to please readers and transforms Vergil’s controversial ending into a straightforward conclusion by adapting Rodomont’s character to Turnus and Ruggiero’s character to Aeneas. When the hero’s foe poses a threat and proves capable of defending himself, we do not feel sorry for his death because the hero obviously must kill to defend his own life. We find comfort in Vergil’s ending by superimposing these interpretations and corrections by Ariosto into The Aeneid. Works Cited Waldman, Guido, trans. Orlando Furioso. By Ludovico Ariosto. New York: Oxford University Press, 1983. Fitzgerald, Robert, trans. The Aeneid. By Vergil. New York: Random House, 1983.   

Crop rotation

Agriculture, also called farming or husbandry, is the cultivation of animals, plants, fungi, and other life forms for food, fiber, biofuel,drugs and other products used to sustain and enhance human life. [1] Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that nurtured the development of civilization. The study of agriculture is known as agricultural science.The history of agriculture dates back thousands of years, and its development has been driven and defined by greatly different climates, cultures, and technologies. However, all farming generally relies on techniques to expand and maintain the lands that are suitable for raising domesticated species. For plants, this usually requires some form ofirrigation, although there are methods of dryland farming; pastoral herding on rangeland is still the most common means of raising livestock.In the developed world, industrial agriculture based on large-scale monoculture has become the dominant system of modern farming, although there is growing support for sustainable agriculture (e. g. permaculture or organic agriculture). Until the Industrial Revolution, the vast majority of the human population labored in agriculture. Pre-industrial agriculture was typicallysubsistence agriculture in which farmers raised most of their crops for their own consumption instead of for trade.A remarkable shift in agricultural practices has occurred over the past century in response to new technologies, and the development of world markets. This also led to technological improvements in agricultural techniques, such as the Haber-Bosch method for synthesizing ammonium nitratewhich made the traditional practice of recycling nutrients with crop rotation and animal manure less necessary. Historical Development of Crop Production Early man lived on wild game, leaves, roots, seeds, berries, and fruits.As the population increased, the food supply was not always sufficiently stable or plentiful to supply his needs. This probably led to the practice of crop production. Therefore, crop production began at least nine thousand (9000) years ago when domestication of plants became essential to supplement natural supplies in certain localities. The art of crop production is older than civilization, and its essential features have remained almost unchanged since the dawn of history. These features are: 1. Gathering and preservation of seeds of the desired crop plants 2.Destroying other kinds of vegetation growing on the land 3. Stirring the soil to form a seedbed 4. Planting when the season and weather are right as shown by past experience 5. Destroying weeds 6. Protecting the crop from natural enemies 7. Gathering, processing and storing the product Origin of Cultivated Crops All cultivated plants were domesticated from their wild species. However, the exact time and place of origin and the true ancestry of many crops are still as h ighly speculative as the origin of man. Man has domesticated some crop species that met his needs before the dawn of recorded history.Most of the domesticated crops were introduced into new areas far from their centre of origin by migrating human populations in prehistoric as well as in recorded times. As a result, both indigenous and introduced crops are grown everywhere in the world. Bikolandia – Rice, corn, coconut, abaca, rootcrops, copra, and banana CLASSIFICATION OF CROPS A new crop classification, the Indicative Crop Classification (ICC) has been developed for the 2010 round of agricultural censuses, and is given at the end of this appendix.The crop classification used in the 2000 agricultural census programme reflected various elements related to crops, including the growing cycle (temporary/permanent), crop species, crop variety (for example, hybrid/ordinary maize), season (for example, winter/spring wheat), land type (for example, wetland/dryland rice), crop use (fo r example, pumpkin for food/fodder), type of product (for example, fresh/dried beans), how the crop is processed (for example, industrial crops), and cultivation methods (for example, crops grown under protective cover).ICC has been developed based on the Central Product Classification (CPC) (UN, 2004a). CPC classifies goods and services into categories based on the nature of the product and industry of origin. Crop products are classified mainly according to the type of crop. CPC itself is based on the Harmonized Commodity Description and Coding System (HS), a classification of the World Customs Organization. CPC is also broadly compatible with ISIC, in that the industry of origin is related to ISIC. ICC is also consistent with the classification of commodities used in FAO’s on-line database, FAOSTAT.From a statistical point of view, the crop classification should be closely related to the product classification, and to some extent to the economic activity classification (IS IC). The crop classification refers to which crops are grown, whereas the product classification refers to the product(s) generated from that crop. Thus, â€Å"mustard† is an oilseed crop, whereas â€Å"mustard seed† is the oilseed product. There is not always a one-to-one correspondence between a crop and a product. The same crop may yield two products – for example, cotton may yield cotton fibre and cotton seed. Philippines – Crop production indexCrop production index (2004-2006 = 100) The latest value for Crop production index (2004-2006 = 100) in Philippines was 111. 00 as of 2009. Over the past 48 years, the value for this indicator has fluctuated between 113. 00 in 2008 and 29. 00 in 1961. Definition: Crop production index shows agricultural production for each year relative to the base period 2004-2006. It includes all crops except fodder crops. Regional and income group aggregates for the FAO's production indexes are calculated from the underlying values in international dollars, normalized to the base period 2004-2006.

Convicts to Australia - Researching Convict Ancestors

From the arrival of the First Fleet at Botany Bay in January 1788 to the last shipment of convicts to Western Australia in 1868, over 162,000 convicts were transported to Australia and New Zealand to serve out their sentences as slave labor. Nearly 94 percent of these convicts to Australia were English and Welsh (70%) or Scottish (24%), with an additional 5 percent coming from Scotland. Convicts were also transported to Australia from British outposts in India and Canada, plus Maoris from New Zealand, Chinese from Hong Kong and slaves from the Caribbean. Who Were The Convicts? The original purpose of convict transportation to Australia was establishment of a penal colony to alleviate pressure on the overburdened English correctional facilities following the end of convict transportation to the American colonies. The majority of the 162,000 chosen for transportation were poor and illiterate, with most convicted for larceny. From about 1810, convicts were seen as a labor source for building and maintaining roads, bridges, courthouses and hospitals. Most female convicts were sent to female factories, essentially forced labor camps, to work off their sentence. Convicts, both male and female, also worked for private employers such as free settlers and small land holders. Where Were The Convicts Sent? The location of surviving records related to convict ancestors in Australia largely depends on where they were sent.  Early convicts to Australia were sent to the colony of New South Wales, but by the mid-1800s they were also being sent directly to destinations such as Norfolk Island, Van Diemens Land (present-day Tasmania), Port Macquarie and Moreton Bay. The first convicts to Western Australia arrived in 1850, also the site of the last convict ship arrival in  1868. 1,750 convicts known as the Exiles arrived in Victoria from Britain between 1844 and 1849. British transportation records of criminal transportees described on the website of the UK National Archives are the best bet for determining where a convict ancestor was initially sent in Australia. You can also search the British convict transportation registers 1787–1867  or Ireland-Australia transportation database online to search for convicts sent to the Australian colony. Good Behavior, Tickets of Leave and Pardons If well-behaved after their arrival in Australia, convicts rarely served their full term. Good behavior qualified them for a Ticket of Leave, a Certificate of Freedom, Conditional Pardon or even an Absolute Pardon. A Ticket of Leave, first issued to convicts who seemed able to support themselves, and later to convicts after a set period of eligibility, allowed the convicts to live independently and work for their own wages while remaining subject to monitoring -- a probationary period. The ticket, once issued, could be withdrawn for misbehavior. Generally a convict became eligible for a Ticket of Leave after 4 years for a seven year sentence, after 6 years for a fourteen year sentence, and after 10 years for a life sentence. Pardons were generally granted to convicts with life sentences, shortening their sentence by granting freedom. A conditional pardon required the freed convict to remain in Australia, while an absolute pardon allowed the freed convict to return to the U.K. if they chose. Those convicts who did not receive a pardon and completed their sentence were issued a Certificate of Freedom. Copies of these Certificates of Freedom and related documents may generally be found in the state archives where the convict was last held. The State Archives of New South Wales, for example, offers an online Index to Certificates of Freedom, 1823–69. More Sources for Researching Convicts Sent to Australia Online Australias early convict records, 1788-1801 includes the names of over 12,000 convicts transported to New South Wales.The Tasmanian Names Index includes convicts (1803–1893) and  convict permissions to marry (1829–1857).The Fremantle Prison Convict Database serves as an online index to Western Australia convict registers.Over 140,000 records are searchable in the New South Wales Convict Index, including  certificates of freedom, bank accounts, deaths, exemptions from government labor, pardons, tickets of leave, and tickets of leave passports. Were Convicts Also Sent to New Zealand? Despite assurances from the British government that NO convicts would be sent to the fledgling colony of New Zealand, two ships transported groups of Parkhurst apprentices to New Zealand -- the  St. George  carrying 92 boys arrived at Auckland on 25 October 1842, and the  Mandarin  with a load of 31 boys on 14 November 1843. These  Parkhurst apprentices  were young boys, most between the ages of 12 and 16, who had been sentenced to Parkhurst, a prison for young male offenders located on the Isle of Wight. The Parkhurst apprentices, most of whom were convicted for minor crimes such as stealing, were rehabilitated at Parkhurst, with training in occupations such as carpentry, shoemaking and tailoring, and then exiled to serve out the remainder of their sentence. The Parkhurst boys chosen for transport to New Zealand were among the best of the group, classified as either free emigrants or colonial apprentices, with the idea that while New Zealand would not accept convicts, th ey would gladly accept trained labor. This did not go over well with the inhabitants of Auckland, however, who requested that no further convicts be sent to the colony. Despite their inauspicious beginning, many descendants of the  Parkhurst Boys  became distinguished citizens of New Zealand.

What Are Pie Charts and Why Are They Useful

One of the most common ways to represent data graphically is a pie chart. It gets its name by how it looks: a circular pie that has been cut into several slices. This kind of graph is helpful when graphing qualitative data, where the information describes a trait or attribute and is not numerical. Each trait corresponds to a different slice of the pie. By looking at all of the pie pieces, you can compare how much of the data fits in each category. The larger a category, the bigger its pie piece will be. Big or Small Slices? How do we know how large to make a pie piece? First, we need to calculate a percentage. Ask what percent of the data is represented by a given category. Divide the number of elements in this category by the total number. We then convert this decimal into a percentage. A pie is a circle. Our pie piece, representing a given category, is a portion of the circle. Because a circle has 360 degrees all the way around, we need to multiply 360 by our percentage. This gives us the measure of the angle that our pie piece should have. Using a Pie Chart in Statistics To illustrate the above, let’s think about the following example. In a cafeteria of 100 third graders, a teacher looks at the eye color of each student and records it. After all 100 students are examined, the results show that 60 students have brown eyes, 25 have blue eyes and 15 have hazel eyes. The slice of pie for brown eyes needs to be the largest. And it needs to be over twice as large as the slice of pie for blue eyes. To say exactly how large it should be, first find out what percent of the students have brown eyes. This is found by dividing the number of brown-eyed students by the total number of students and converting to a percent. The calculation is 60/100 x 100 percent 60 percent. Now we find 60 percent of 360 degrees, or .60 x 360 216 degrees. This reflex angle is what we need for our brown pie piece. Next look at the slice of pie for blue eyes. Since there are a total of 25 students with blue eyes out of a total of 100, this means that this trait accounts for 25/100x100 percent 25 percent of the students. One quarter, or 25 percent of 360 degrees, is 90 degrees (a right angle). The angle for the pie piece representing the hazel-eyed students can be found in two ways. The first is to follow the same procedure as the last two pieces. The easier way is to notice that there are only three categories of data, and we have accounted for two already. The remainder of the pie corresponds to the students with hazel eyes. Limitations of Pie Charts Pie charts are to be used with qualitative data. However, there are some limitations to using them. If there are too many categories, then there will be a multitude of pie pieces. Some of these are likely to be very skinny and can be difficult to compare to one another. If we want to compare different categories that are close in size, a pie chart does not always help us to do this. If one slice has a central angle of 30 degrees, and another has a central angle of 29 degrees, then it would be very hard to tell at a glance which pie piece is larger than the other.

The Current Information Security Landscape Of Small...

Small businesses form a critical part of the economy and play a key role in the creation of jobs and improving the livelihoods of many individuals in the society. However, in the advancement of technology and the use of information systems by these businesses, there has grown a threat to the continued successful operations of these businesses due to the threat of cyber attacks. This paper will focus on researching on the current information security landscape of small businesses, specifically in cloud computing and social networking. The paper will also make a discussion of the potential consequences of not implementing security practices, show the common threats that are associated with small businesses and finally describe the strategies that will provide assurance in information security for small businesses. Current information security landscape of small businesses Small businesses are currently faced by contradicting opportunities and challenges. 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The Case of ASIC V Soust- Free-Samples for Students-Myassignment

Question: Discuss the foundations of Australian Corporations law and Constitutional aspects and administration. Answer: Introduction The Corporations Act, 2001, herein refereed as CA, is the act of the Parliament of Australia, hence, the act of Commonwealth (Federal Register of Legislation, 2017). Due to these reasons, it is applicable on all the companies which have its operations or business in Australia, unless specifically exempted (Latimer, 2012). This act puts an obligation over the directors of the company to run the business of the company, in which they hold the position of a director, for the companys shareholders. In absence of doing so, they are held both liable under both the civil and criminal law, depending on the breach of the duties contained in the CA (Cassidy, 2006). The case of ASIC v Soust [2010] FCA 68 is one of such cases, where the duties given to the directors of the company, were breached, as a result of which, Soust was held liable by the Federal Court (Hodgkinson, 2010). In the ensuing parts, the background of this case, the breached duties and the decision of the court has been summarized. Background The case revolves around Martin Soust, herein referred as the Director, who was the Select Vaccines Limiteds CEO and MD. The terms of service of the Director were properly covered under the Executive Service Agreement in which the conditions which made the applicability of bonus for the Director were mentioned (Woodhead, 2012). As per this condition, the Director had to be paid the bonus, apart from his annual fee, only when the prices of shares moved beyond ten percent on the basis of the Intersuisse Citotech Index. Further, this moment of shares was to be evaluated at the calendar year ending date and the same were to be reported (ASIC, 2010). The Director was a part of the companys board of directors and due to this reason he had to comply with the Select Vaccines Limiteds share trading policy. Under this share trading policy, the Director had been prohibited from trading in Select Vaccines Limiteds new shares, except for a period of six weeks after the Annual General Meeting of the company, along with six weeks after the release of the annual and half yearly results of Select Vaccines Limited (Hodgkinson, 2010). Ignoring these policies and restrictions, the Director placed a bid through his stock broker through phone on the last day of 2007 in the closing hours. Such trading was done beyond the allowed windows of trading. At that time period, the last sale was done at the price of 2 cents per share, which depicted a lack of market depth. The Director was aware that the same would be translated into the requirement of different trades so as to fill his order and due to which, the price would go higher than 2.4 cents per share, which was the price which was offered in the last. The Director made a decision to undergo a transaction at this price and as soon as he did do, trade of shares was made at 2.5 cents for every share. Due to this, the share prices were inflated by 19.05% as compared to previous year, where the shares held the value of 2.1 cents. As a result of this entire transaction, the requirements contained in the Executive Service Agreement of the Director, with regards to the outpe rformance of the Intersuisse Citotech Index were attained. Had the Director not been involved in such transaction, the value would have shown a decrease of the prices of share by 4.76%, resulting in the Intersuisse Citotech Index being underperformed by 3.27% (Hodgkinson, 2010). The Director contained to attend the meetings of board and that of the remuneration committee. And yet he did not make a disclosure with regards to the transaction undertaken by him. This disclosure was required under his Executive Service Agreement and the lack of the same resulted in him being paid the performance bonus as was promised. Had the transaction not been undertaken by the Director, the bonus would not have been paid to him (Hodgkinson, 2010). The accusation was made by the ASIC with regards to the creation of artificial price on part of the Director and which resulted in market manipulation (Bowley, 2013). The actions undertaken by the Director resulted in false and misleading appearances being created (OConnell, 2013). And these appearances resulted in such an indication being given that the shares of the company had an active market and were regularly traded at the high prices, and this practice could be deemed as market rigging. It was also claimed by ASIC that the Director had contravened his duties as being the companys director as he did not undertake his duties which were put on him through the CA (Hodgkinson, 2010). The Director claimed that he had not contravened any provisions of CA, even though the factual evidence was not challenged by him. He stated that he had taken part in a genuine transaction, deeming which as fictitious would be wrong. Further, he stated that he never misled any seller and that there was not artificial in the shares being purchased at the prices at which they were offered. He also made a contention that taking steps to increase the share prices could not be deemed as unlawful. However, the claims of ASIC differed from the claims of the Director (Jade, 2010). Duties Breached Under CAs section 181(1), the directors have been given the responsibility of undertaking their obligations and using the powers which have been given to them in such a manner which can be deemed as having being carried on good faith, for proper purpose and in the best interest of the company (Australian Government, 2017). CAs section 182(1) brings forward the obligation with regards to making proper use of the position which the director or the officer holds in the company, by being the director or officer of the company, in such a manner, which does not prove to be in the detriment of the company, and of such nature, where some other person attains a benefit out of it (Australasian Legal Information Institute, 2017). The breach of 181(1) and 182(1) result in the penalties being imposed as are given under section 1317E of CA (ICNL, 2017). A declaration of contravention can be made under section 1317E, following which, the ASIC can make an application for section 206C disqualification order or for section 1317G pecuniary penalties (WIPO, 2015). Courts Decision The Federal Court provided that in order for the contentions of the ASIC to be proved right, the test had to be applied with regards to t he prices so as to examine if the breach had indeed taken place in comparison to the normal course of activities. The court viewed that it was important that the integrity of the market was maintained so that the interest of the concerned buyers could be protected by lowest prices being offered and for the seller by higher prices being offered. This was crucial for the demand and supply of the normal market force. It was held by the Federal Court that by buying the shares at artificially high prices, the share trading policy was breached by the Director. In addition to this, the Federal Court held that by failing to disclose the undertaken transaction to the remuneration committee and to the board of directors, the Director breached the provisions of good faith contained in the CA. This necessitated the application of pecuniary penalties on the Dir ector, along with considering the need of passing the disqualification order (Hodgkinson, 2010). To make a decision on this, the use of position of the Director was analyzed. As per the obligations imposed on the Director, by holding the position, the best interest of the company had to be given the priority. The bonus made by the Director depicted just the opposite of this, as the position was misused, as a result of which the Director was awarded the bonus, which would be construed as detriment of the company. Had the director made proper disclosure with regards to the transaction undertaken by him, the bonus would not have been awarded, which would have resulted in the company not being wronged. But the contrary was done by the Director. So, both 181(1) and 182(1) were contravened by the Director (Australasian Legal Information Institute, 2010). Conclusion Through the case of ASIC v Soust, it is clarified that the companys directors are required to stay away from such dealings, which cause detriment to the company, while resulting in an advantage for their personal selves. In case any director takes part in such transactions, it becomes their duty to make complete disclosures regarding it, so that the board and the other bodies can be aware about such transaction. The disclosure of such policies is taken as the fulfillment of director duties, which was not done in this case. And the result of this was seen in a case being brought forward against the Director by the ASIC and ultimately the breach of CA being established by the Federal Court. This case also acts as guidance to the directors and officers in the companies across the nation, to not indulge in such activities, which can result in the provisions of CA being contravened. References ASIC. (2010) 10-88AD ASIC obtains pecuniary penalty and disqualification order against former Select Vaccines director. [Online] ASIC. Available from: https://asic.gov.au/about-asic/media-centre/find-a-media-release/2010-releases/10-88ad-asic-obtains-pecuniary-penalty-and-disqualification-order-against-former-select-vaccines-director/ [Accessed on: 17/06/17] Australasian Legal Information Institute. (2010). Australian Securities Investments Commission v Soust [2010] FCA 68 (15 February 2010). [Online] Australasian Legal Information Institute. 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