Chronological List of African Independence

Most nations in Africa were colonized by European states in the early modern era, including a burst of colonization in the Scramble for Africa from 1880 to 1900. But this condition was reversed over the course of the next century by independence movements. Here are the dates of independence for African nations. Country Independence Date Prior ruling country Liberia, Republic of July 26, 1847 - South Africa, Republic of May 31, 1910 Britain Egypt, Arab Republic of Feb. 28, 1922 Britain Ethiopia, People's Democratic Republic of May 5, 1941 Italy Libya (Socialist People's Libyan Arab Jamahiriya) Dec. 24, 1951 Britain Sudan, Democratic Republic of Jan. 1, 1956 Britain/Egypt Morocco, Kingdom of March 2, 1956 France Tunisia, Republic of March 20, 1956 France Morocco (Spanish Northern Zone, Marruecos) April 7, 1956 Spain Morocco (International Zone, Tangiers) Oct. 29, 1956 - Ghana, Republic of March 6, 1957 Britain Morocco (Spanish Southern Zone, Marruecos) April 27, 1958 Spain Guinea, Republic of Oct. 2, 1958 France Cameroon, Republic of Jan. 1 1960 France Senegal, Republic of April 4, 1960 France Togo, Republic of April 27, 1960 France Mali, Republic of Sept. 22, 1960 France Madagascar, Democratic Republic of June 26, 1960 France Congo (Kinshasa), Democratic Republic of the June 30, 1960 Belgium Somalia, Democratic Republic of July 1, 1960 Britain Benin, Republic of Aug. 1, 1960 France Niger, Republic of Aug. 3, 1960 France Burkina Faso, Popular Democratic Republic of Aug. 5, 1960 France Cà ´te d'Ivoire, Republic of (Ivory Coast) Aug. 7, 1960 France Chad, Republic of Aug. 11, 1960 France Central African Republic Aug. 13, 1960 France Congo (Brazzaville), Republic of the Aug. 15, 1960 France Gabon, Republic of Aug. 16, 1960 France Nigeria, Federal Republic of Oct. 1, 1960 Britain Mauritania, Islamic Republic of Nov. 28, 1960 France Sierra Leone, Republic of Apr. 27, 1961 Britain Nigeria (British Cameroon North) June 1, 1961 Britain Cameroon(British Cameroon South) Oct. 1, 1961 Britain Tanzania, United Republic of Dec. 9, 1961 Britain Burundi, Republic of July 1, 1962 Belgium Rwanda, Republic of July 1, 1962 Belgium Algeria, Democratic and Popular Republic of July 3, 1962 France Uganda, Republic of Oct. 9, 1962 Britain Kenya, Republic of Dec. 12, 1963 Britain Malawi, Republic of July 6, 1964 Britain Zambia, Republic of Oct. 24, 1964 Britain Gambia, Republic of The Feb. 18, 1965 Britain Botswana, Republic of Sept. 30, 1966 Britain Lesotho, Kingdom of Oct. 4, 1966 Britain Mauritius, State of March 12, 1968 Britain Swaziland, Kingdom of Sept. 6, 1968 Britain Equatorial Guinea, Republic of Oct. 12, 1968 Spain Morocco (Ifni) June 30, 1969 Spain Guinea-Bissau, Republic of Sept. 24, 1973(alt. Sept. 10, 1974) Portugal Mozambique, Republic of June 25. 1975 Portugal Cape Verde, Republic of July 5, 1975 Portugal Comoros, Federal Islamic Republic of the July 6, 1975 France Sà £o Tomà © and Principe, Democratic Republic of July 12, 1975 Portugal Angola, People's Republic of Nov. 11, 1975 Portugal Western Sahara Feb. 28, 1976 Spain Seychelles, Republic of June 29, 1976 Britain Djibouti, Republic of June 27, 1977 France Zimbabwe, Republic of April 18, 1980 Britain Namibia, Republic of March 21, 1990 South Africa Eritrea, State of May 24, 1993 Ethiopia Notes: Ethiopia  is usually considered to have never been colonized, but following the invasion by Italy in 1935-36 Italian settlers arrived. Emperor Haile Selassie was deposed and went into exile in the UK. He regained his throne on 5 May 1941 when he re-entered Addis Ababa with his troops. Italian resistance was not completely overcome until 27th November 1941.Guinea-Bissau  made a Unilateral Declaration of Independence on Sept. 24, 1973, now considered as Independence Day. However, independence was only recognized by Portugal on 10 September 1974 as a result of the Algiers Accord of Aug. 26, 1974.Western Sahara  was immediately seized by Morocco, a move contested by Polisario (Popular Front for the Liberation of the Saguia el Hamra and Rio del Oro).

Emotional Intelligence As A Therapeutic Setting - 1543 Words

Emotional Intelligence Role in a Therapeutic Setting Emotional intelligence or as others call it, emotional quotient, is a relatively new and controversial topic in the world of psychology. Emotional intelligence abbreviated EI or EQ, was first theorized in 1990 by Peter Salovey a social psychologist hailing from Standford University and John Mayer a personality psychologist from Case Western University. These two researchers began by looking at intelligence quotients (IQ) and creating a hypothesis as to why some people, despite lower scores on intelligence tests held high positions in career settings, had a high rapport with many individuals from all walks of life and overall were seen to be more empathetic and understanding in nature. Salovey and Mayer proposed that IQ scores do not measure factors that may contribute to a successful, happy life, such as how a person interprets their own emotions such as anger or sadness and how one deals with these emotions. Salovey and Mayer believed if such skills existed they could be broken off into subsets and tested on their own. In turn, Salovey and Mayer created the revolution known as emotional intelligence. Soon after Salovey and Mayer’s research began, self-help books relating to emotional intelligence quickly took bookstores by storm, as many buyers saw emotional intelligence as a new way to improve their life. Dr. Daniel Goleman a psychologist and researcher specializing in anthropology published a book about emotionalShow MoreRelatedThe Role of Emotional Intelligence in Communicating1185 Words   |  5 Pagesapproaches include self awareness, empathy and emotional intelligence. Emotional intelligence, one of the key approaches to communication in a health care setting, is a fundamental part of communication. Intelligence was often associated with performance in IQ tests but it has recently been discovered that it is only one of the seven types of intelligences in McQueen’s study . 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Socio-Spatial Context of Urban Art in the Realm of Delhi Free Essays

string(152) " public art may include any art which is exhibited in a public infinite including publically accessible edifices, but frequently it is non that simple\." SOCIO SPATIAL CONTEXT OF URBAN ART IN THE REALM OF DELHI Introduction Before I dive into the debut to the thesis, I want to denote my capable affair through my response to 6 critical inquiries written below. What do I desire to analyze? I want to analyze the modern twenty-four hours phenomenon that is street art from a socio-spatial position in the urban kingdom of Delhi. I will see street art to include ( in order of importance to my thesis ) : Graffiti Public art installings Traditional sculptures and statues situated in the public zone 2. We will write a custom essay sample on Socio-Spatial Context of Urban Art in the Realm of Delhi or any similar topic only for you Order Now Why is it of import to cognize about this subject? Street art has had a enormous impact on the lives of people, consciously or sub-consciously. It has acted as the voice of the laden and oppressors both. It will go on to play an of import function in distributing propaganda. It will besides go on to germinate into more signifiers of an artistic look. Hence we need to spread out our understanding upon this subject to foretell what the hereafter of street art is traveling to be. 3. How is this work situated in relation to my anterior work? I have experience in street art as I have done graffito for art festivals. I had besides planned collaborative street event with some friends to showcase HIP HOP in the streets of Hauz Khas small town. Four elements of HIP HOP include: DJ, Graffiti, MC and interrupt dance. Although It dint work out because of committedness issues, a senior ( SPA pass-out ) of mine, who was to be the DJ in my undertaking, managed to put to death my enterprise. I believe my old experience with graffito makes me a good campaigner to consider upon this subject. Besides, I have an unconditioned involvement in mass psychological science ( behavioural in peculiar ) . 4. What methods will I utilize to carry on this research? The secondary manner of survey is of head importance since the research focuses on the behavioural psychological impact public art has on the. The situational context of the secondary study is worldwide, assisting to understand the impact of urban art at a holistic degree. I will place socio-spatial parametric quantities from the secondary instance surveies. 3 books have been selected which talk about public art as a construct, graffito and installing art severally. 1.Finkelpearl, T, A ; Acconci, V, 2001. Dialogues in Public Art. 2nd erectile dysfunction. Massachusetts: First MIT 2.Ganz, N. , A ; Manco, T, 2004. Graffiti universe: street art from five continents. New York, H.N. Abrams. 3.Bishop, C, 2005. Installation Art. 1st erectile dysfunction. ( unknown ) Routledge. Based on the parametric quantities derived from the secondary survey, viz. socio –spatial elements of street art, 3 primary researches will be conducted. A three pronged Interview of urban creative persons, the interior decorators of the infinite and the people who experience their art will be conducted for each primary instance survey. The status where the interior decorators have prompted art in their creative activity will besides be analyzed. 5. What will it bring forth? This chance will hopefully bring forth an penetration into the manner the built, in this instance, the graffito and the installing art have an impact on the societal domain of life. 6. Research inquiry What are the socio-spatial characters of street art in the urban kingdom of Delhi? The creative person is a receptacle for emotions that come from all over the topographic point: from the sky, from the Earth, from a bit of paper, from a passing form, from a spider ‘s web. -Pablo Picasso Graffiti has existed in one signifier or the other since the morning of clip. From cave pictures to Nazi propagandas, it has been a steady perceiver and teacher to the human civilisation. The modern twenty-four hours graffito has its roots in the 80’s. It has morphed itself from being a tool of look for the laden and oppressors likewise into a booming art signifier portion of the hip hop civilization of today. In recent old ages graffiti has grown bolder, more ornate, more sophisticated and, in many instances, more acceptable. Yet unsanctioned public art remains the job kid of cultural look, the last criminal of ocular subjects. Even though it is still non wholly welcomed and respected yet, it has gained popularity and credence in the younger coevals of today. Graffiti as a signifier of art has branched itself into other signifiers of modern-day art such as installing art, urban art, guerilla art, post-graffiti, neo graffito. It is engrained in the civilization of today. The graffito of the 80s is morphing and germinating into a broad array of bizarre and intriguing constructs such asMobius, created by art and design house Eness for the metropolis of Melbourne, Australia. It is a kinetic sculpture whose motion is undetectable by the bare oculus — the lone manner to see it travel is via time-lapse picture. The outgrowth of installing art as portion of graffito and as a separate entity in itself is rather an interesting development. Graffiti today has embraced the manner of installing art, art which has a 3rddimension to it. As opposed to the 2 dimensional old school graffito, this new geographic expedition in the 3rddimension is taking the art signifier to unobserved and antecedently impossible highs. The urban creative person is the receptacle whose art is in response to emotions given out by the societal order of the metropolis. Traveling a full circle, the societal order of our lives besides acts as the receptacle which absorbs all the emotion urban art emanates. For my literature referrals, I have decided to sort my reads into 3 classs: Generic public art Graffiti Public installing art Knight ( 2011 ) defines as art in any media that has been planned and executed with the purpose of being staged in the physical populace sphere, normally outside and accessible to all. He besides suggests public art may include any art which is exhibited in a public infinite including publically accessible edifices, but frequently it is non that simple. You read "Socio-Spatial Context of Urban Art in the Realm of Delhi" in category "Essay examples" Rather, the relationship between the content and audience, what the art is stating and to whom, is merely every bit of import if non more of import than its physical location. Finkelpearl ( 2009 ) conducts interviews of a broad scope of creative persons, administrative officials, and others whose lives have been affected by these undertakings in the North American context. He tells the narrative of a selected group of public art undertakings through these interviews. I think this book raises a set of critical set of issues from an remarkably wide set of positions. From an creative person who mounted three bronze sculptures in the South Bronx to the administrative official who led the battle to hold them removed ; from an creative person who describes his work as a â€Å" malignant neoplastic disease † on architecture to a brace of designers who might hold with him ; from an creative person who formed a alliance to change over 22 derelict row houses into an art center/community revival undertaking to a immature adult female who got her life back on path while life in one of the born-again houses. The category contradictions inherent in the term â€Å"public art† have been addressed by Finkelpearl ( 2009 ) by conveying different kinds of people into contact in originative ways. He besides provides a concise overview of altering attitudes toward the metropolis as the site of public art. In the book Dialogues in public art by Finkelpearl, the 20 interviews are divided into four parts: Controversies in Public Art: This portion focuses undertakings that are met with important contention. Richard Serra’s tilted discharge, John Ahearn’s three bronzes in the South Bronx, Maya Lin’s Vietnam Veterans Memorial, and Welcome to America’s finest Tourist Plantation by David Avalos, Louis Hock and Elizabeth Sisco. The interviews discourse how some of the contentions were welcomed as portion of the undertaking and how the alterations and/or remotion of the controversial plants of art have shed new visible radiation on the nature of the undertaking and its relationship with its audience. Experiments in Public Art as Architecture and Urban Planning:The series of interviews in this part discuss one of the waies that public art took in the aftermath of the contentions that move off from traditional definitions of art towards landscape design, architecture and planning. This subdivision begins with an interview with designers Denise Scott Brown and Robert Venturi, in which they discuss their edginess in the infliction of art in the public design procedure. Sculptor Vito Acconci negotiations about how he has managed to infiltrate architectural design in his artistic pattern. Michael Singer and Linnea Glatt discourse their design of the solid waste direction installation in Phoenix, Arizona, while Ron Jensen, the former Director of Public Works for Phoenix, discusses the procedure that led him to engage two creative persons with small architectural background to be the lead interior decorators on a multimillion dollar installation. The solid waste direction installation is one of the few cases where the design and planning determinations in a public edifice were made by creative persons. Finally, Rick Lowe and Assata Shakur tell the narrative of Project Row houses, an art undertaking that transformed 22 creaky shotgun-style houses into a modern-day art exhibition infinite, lodging for individual female parents and a community centre. Rick Lowe is an creative person whose work moved from the kingdom of architectural sculpture to urban design, while Assata Shakur is a former occupant in undertaking Ro houes’ immature female parents residential plan and a alumnus pupil in sociology at Penn State University. Dialogues on Dialogue-Based Public Art Projects:This series of interviews focal points on public art that makes duologue and indispensable component of the work itself. This is a really interesting facet to public art undertakings. The more duologue the work of art creates with its viewing audiences, the more singular and successful it is. Public Art for Public Health:This subdivision focuses on the Revival Fields and the AIDS thread. Artist Mel Chin and Dr. Rufus Chaney of the United States Department of Agriculture individually discuss Revival Field, an art and scientific discipline coaction that seeks to cleanse toxic waste sites utilizing â€Å"green remediation† . The book concludes with two interviews about the AIDS thread: Artist Frank Moore discusses how he helped originate the thread, and Jackie Mclean describes how she worked on the production of the thread at a women’s shelter while a member of the creative persons and stateless collaborative. The 2nd and the 3rd series of interviews are the 1s I would wish to pick up as secondary instance surveies. Knight C.K ( 2011 )takes a expression at public art and its populist entreaty, offering a more inclusive usher to America ‘s originative gustatory sensations and shared civilization. He examines the history of American public art – from FDR ‘s New Deal to Christo ‘sThe Gates– and challenges preconceived impressions of public art, spread outing its definition to include a broader range of plants and constructs such as Boston ‘s Big Dig, Las Vegas ‘ . Treasure Island and Disney World. In his booktitled Public Art: Theory, Practice and Populism, he offers an option to the traditional position and unfavorable judgment environing public art. Chapterization of the book is as follows: Introduction: A short History of the United States â€Å"Official† Public Art Roosevelt’s New Deal General Services Administrarion’s Art-in-public-places plan National gift for arts’ Art-in-public-places-program Conventional Wisdom: Populist purposes within established Paradigms Art as monument Art as commemoration Art as agreeableness Art in the Park, Art as the Park Art as the Agora Art as Pilgrimage Culture to travel: From art universe to the universe What museums do for us My museum Education, Outreach, Programing The alternate museum Not rather â€Å"art† , non rather â€Å"public† : The art of amusement This is particular, I am particular Open pocketbook, unfastened docket? Embracing spectacle Super spectator: Increasing single Power to the people Claiming infinite and topographic point Dig in Decision: Art for all? The problem with ( Re ) Development Nonprofit organizations and the passing idyll Back to school Grieving loss, retrieving life Two narratives in one metropolis Knight C.K ( 2011, Chapter 2 ) offers penetrations on the populist purposes of art within the established paradigms by speaking about art and its parametric quantities of design. I hope to absorb what the chapter has to offer. Through it I hope to understand what public art is at a deeper degree of understanding. I hope to understand what the aesthetic sense of the art should be, whom should it be directed to? Is it meant for the populace? If yes, so does it intend the graphics should exceed the artist’s private or aesthetic concerns? These are the subjects the book has talked about. Knight C.K ( 2011, Chapter 5 ) negotiations about whether the viewers’increaedagency to find the degrees of battle in art and virtues of their ain art expriences should be knowing or non. Miles M. ( 2005 ) treats public art as a societal procedure and in the urban context. He talks about public art outside the normal confines of art unfavorable judgment and topographic points it within broader contexts of public infinite and gender. He farther goes on to research the devising, direction and mediation of art outside its conventional location in museums and galleries, and the liveable metropolis – a construct affecting user-centred schemes for urban planning and design. Using different positions, he explores both the aesthetic and political facets of the medium. Miles M. ( 2005 ) applies a scope of critical positions which have emerged from different subjects – art unfavorable judgment, urban design, urban sociology, geographics and critical theory – to analyze the pattern of art for urban public infinites, seeing public art from places outside those of the art universe to inquire how it might lend to possible urban hereafters. Researching the diverseness of urban political relations, the maps of public infinite and its relation to the constructions of power, the functions of professionals and users in the building of the metropolis, the gendering of infinite and the ways in which infinite and citizen are represented, Miles M. ( 2005 ) explains how these issues are as relevant to architecture, urban design and urban planning as they are to public art. Pulling on a wealth of images from across the UK and Europe and the USA, in peculiar, he inquiries the effectivity of public art in accomplishing more pleasant urban environments, whilst retaining the thought that conceive ofing possible hereafters is every bit much portion of a democratic society as utilizing public infinite. Art, Space and the City by Miles M. is chapterized as follows: Introduction THE CITY SPACE REPRESENTATION AND GENDER THE MONUMENT THE CONTRADICTIONS OF PUBLIC ART Art IN URBAN DEVELOPMENT Art IN METROPOLITAN PUBLIC TRANSPORT ART IN HEALTH SERVICES Art AS A SOCIAL PROCESS CONVIVIAL CITIES Notes Further READINGS Bibliography Index The chapters of involvement are infinite representation and gender, art in the urban development and art as a societal procedure. I am sing graffito as a signifier of public art. It is chiefly an urban phenomenon which gained popularity in the 1980’s. GANZ, N. A ; MANCO, T. ( 2004 ) have studied what graffito is, where it came from, how is it situated on the Earth in today’s universe. They have explored how letters used to rule graffitos but over the past decennary, graffito authors have expanded the graffiti civilization to a wider range of look. The station graffiti motion is characterized by more advanced attacks to organize and technique that travel beyond traditional perceptual experiences of classical graffito, In their book Graffiti universe: street art from five continents,they have provided illustrations of graffito around the universe. They divide the locations into the Americas, Europe and the remainder of the universe. The contents of the book is as follows Foreword Worldwide history of graffito The here and now The Americas Europe The remainder of the universe Information Crew names Glossary Web sites Choice magazines Select bibliography Recognitions GANZ, N. A ; MANCO, T. ( 2004, chapter 3 ) put graffito in a present context. They point out the development of graffito from being entirely spray can-based to encompassing a wider scope of mediums. They have besides talked about the outgrowth of cyberspace and its interesting function in the development of graffito. These modern-day issues of graffito are the chief ground I have chosen to read this book. I shortlisted this book besides for the ground that it tries to carry through a comprehensive certification of graffito and its varying characters across the universe. Apart from that, I will besides be confer withing the chapters of world-wide history of graffito and the locational chapters showcasing graffito in the Americas, Europe and the remainder of the universe. Graffiti has of late taken a measure further in its development. Graffiti today has embraced the attack of installing art, art which adds a 3rddimension to it. As opposed to the 2 dimensional old school graffito, this new geographic expedition in the 3rddimension is taking the art signifier to unobserved and antecedently impossible highs. .Installation art has emerged as portion of graffito and as a separate entity in itself. Bishop ( 2005 ) provides both a history and a full critical scrutiny of this ambitious country of modern-day art, from 1960 to the present twenty-four hours. Using instance surveies of important creative persons and single plants, Bishop ( 2005 ) argues that, as installing art requires its audience to physically come in the graphics in order to see it, installing pieces can be categorised by the type of experience they provide for the screening topic. Equally good as researching the methodological analysiss of the creative persons examined, she besides explains the critical theory that informed their work. Documentary movies i‚ · RASH ( 2005 ) , a characteristic length docudrama by Mutiny Media researching the cultural value of Australian street art and graffito i‚ · Roadsworth: Traversing the Line ( 2007 ) , a documental movie about the legal battle of Montreal street creative person Roadsworth i‚ · Bomb It ( 2008 ) , a documental movie about graffito and street art around the universe i‚ · Exit Through the Gift Shop ( 2010 ) , a docudrama created by the creative person Banksy about Thierry Guetta i‚ · Street Art Awards ( 2010 ) , opening of the street art festival in Berlin i‚ · Las Calles Hablan ( 2013 ) , Las Calles Hablan, a characteristic length docudrama about street art in Barcelona i‚ · Style Wars ( 1983 ) , a PBS docudrama about graffiti creative persons in New York City having Seen, Kase2, Dez and Dondi Mention Bishop, C, 2005.Installation Art. Edition. 1sterectile dysfunction. Routledge. Finkelpearl, T, A ; Acconci, V, 2001.Dialogues in Public Art. 2nd erectile dysfunction. Massachusetts: First MIT Ganz, N. , A ; Manco, T, 2004.Graffiti universe: street art from five continents. New York, H.N. Abrams. Knight, C.K. , 2011.Public Art: Theory, Practice and Populism. 2nd erectile dysfunction. MA, USA: Blackwell Publishing Miles, M, 2005.Art, Space and the City. 3rd erectile dysfunction. London: Routledge. How to cite Socio-Spatial Context of Urban Art in the Realm of Delhi, Essay examples

Investigating Events Liquidation Learning â€Myassignmenthelp.Com

Question: Discuss About The Investigating Events Leading To Liquidation Of ABC Learning? Answer: Introducation ABC Learningis an Australian company. Once upon a time it was the world's largest provider of early childhood education services. It was founded in 1998 and by 2006 it had total of 950 centers across New Zealand and Australia. At its peak in 2006, its marked capitalization rose to A$2.5 billion on the Australian securities and stock exchange. A fallout from the subprime management crisis caused debt repayments to sink the company. It was eventually taken over by Good Start Limited in 2009, after a voluntary liquidation in 2008. Currently it is running around more than 650 childhood centers in Australia Analysis: In the later 6 months of 2007sudden drop in profit of the company and its failure to provide service lead gto drop in share prices of the company. Share drop by 43% from $2.15 to $1.15(ferrier, 2016). At the end the Grove just held 8% shares of the company. Founder Edmund and his wife 20 million and 6million shares. 2.7 million shares were sold by Martin kemp. Dumping of which was large enough to cause panic within the institutional and retail buyers who followed suit(SUMSION, 2012). ABC Learning Company in order to have speedy growth kept acquiring child care centers at a premium over the market rate.[1] For this purpose the company started issuing shares to raise more capital. The health of the financial statement like balance sheet, cash flow statement and income statement was an indicator that the company was heading to insolvency but management at that time chose to trade-off that risk with their aggressive growth plan. Leverage was so high that the company owed more than one dollar for 30 cents of equity. In fact to service the loans, the company ran into a negative cash flow in 2007 which prevented it from meeting its day to day expenses and led to insolvency. There was also a reported fraud of not disclosing a related party transaction(Keane, 2008). ABC Learning insolvency was caused due to a combination of several things going wrong, Company did not have proper management team with financial prudence which is why they incurred huge maintenance cost, paid too much to acquire new centers, and committed financial mismanagement. This is also a failure of both internal and external (auditor) Accounts and Finance teams as these professionals play a very crucial role in companys growth and stability and advising management on key business decisions. Some lessons for Accounts and Finance professions from this case are, Revenue should be recognized properly. Company should focus on its core offering, its strengths and management of its primary business even when company is going through massive phase of growth. In ABC companies case the co founders shifted focus from providing quality child learning to simply acquiring/ adding new centers to boost the valuation for which they had to raise external financing and this was a vicious circle ultimately. Companys books should depict the real picture because it does not take long for the markets or investors to gauge the real health and eventual consequences re more catastrophic. Emphasis on proper standards of corporate governance is a must and basics like disclosures of related party transactions cannot be ignored(parker, 2016). In a nutshell, its ironic that a company that found a great product market fit and hit its zenith ended up being insolvent, had to go through the painful process of liquidation and ultimately got bough out for pennies. Had the growth plans (and in most cases the greed to make the fast buck) been checked with proper corporate governance and financial prudence, this company could have been featured in the Good to Great case-studies instead of examining reasons behind its liquidation(Anon., n.d.). Ethical violation: This is a case of failure of corporate governance on their part even though there were enough signals from Financial statements of impending crisis. This clubbed with inflating its intangible asset value to show a stronger balance sheet to investors and shareholders which eventually sent the stock crashing once the realities were out can be identified to be the prime reasons for ABC to go bust. HIH Insurance Background Health International Holding (or HIH insurance in short) was founded by Ray Williams and Michael Payne in 1968. Around 1997 - 1998 HIH went global and it acquired many companies in Australia, New Zealand, Argentina and in United States. HIH raised funds from public in return of 51% of its share holding and thereafter HIH companys name changed to HIH Insurance Limited(Anon., 2015). At one point in time it was Australias second largest insurance company. It got placed into provisional liquidation on 15th march 2001 making it one of the largest corporate collapse in Australias history[2]. There were various fraud allegations on the company. The main reason of liquidation was that company was sitting on huge losses to the tune of $5.3 billion and unable to meet its cash flow requirements(Anon., n.d.). Investigations by government agencies into the cause of the collapse then led to trial and conviction and imprisonment of several management personnel on various charges relating to fraud(wiley, 2003) Analysis and research: HIH claimed that it was having $8 billion of assets however in real terms it came out to just $133 million(Anon., n.d.). Lets look at one of their quarterly reports, Net assets $379 million Net liabilities $101million and Bond securities $288 million The company illegally showed pledged securities as their own securities and this is how they violated the rule on APRA (AUSTRALIAN PRUDENTIAL REGULATORY AUTHORITY).HIH insurance company did not disclose the fact to APRA and APRA gave HIH Insurance Company a tick. In 1999, HIH insurance company gained control of FAI in a takeover bid. As one director in 12th Sep 2000 argued to a joint venture with Alliaze, it might have been easier to deal with intangible issue. After the disclosure of betrayal done by the company, directors were send to imprisonment for several years and prohibited from being in a leading role of a director for minimum of 10-20 years and were also handed over a monetary fine. [3 Summarizing factors that led to the liquidation of one of Australias second largest insurance company. Internal factors There was poor management and lack of attention to detail because the power of company was in wrong hands and the top management and directors were interested in their own personal gain. Management after knowing the true situation chose to conceal the true information. Compromised integrity and ethical values by top management. Senior officers use to allegedly accept bribes(Anon., n.d.). External factors It was also discovered that HIH auditor in 2000 earned $8 million from auditing HIH Insurance Company and $7 million from other sources and in earlier period the same auditing company earned $1.7 million from HIH insurance company and 1.6 million$ from other services. This shows some flaw in independence of the auditor. Audit committee was related to HIH insurance company this also questions about the independence of auditor. Ethical violation Management presented misleading financial statement by overstating their profits. Management after knowing the true situation chose to conceal the true information. Compromised integrity and ethical values by top management. Senior officers use to allegedly accept bribes(Anon., 2013). One TelTelecommunication One Tel telecommunication company was established in the year 1995. Jodee Rich and Brad Keeling were the founders of this company.[4]In 1997 it was listed on the stock exchange with share price at $2 and valuation of about $208 million. The company had also introduced international and long distance services(reza, 2011). One Tel was launched at a time when cell phone was just introduced in the market and people were looking for cheaper deals since the call rates used to be very steep. By offering some good deals and cheap call rates to its subscribers (which is exactly what they were looking for), One Tel was able to rapidly gain market share(Anon., n.d.). As part of its service offering, One Tel provided internet services, local and international call rates at reasonable rates and very soon it topped the charts and became one of the Top - 30 companies of Australia. In very quick time it was able to attract millions of subscribers and many investors. Subsequently, the company also introduced the brand THE DUDE. One Tel got a good response on the domestic expansion front allowing its management ideas to expand globally. It quickly expanded to Hong Kong, USA, UK, Germany and Switzerland(Anon., n.d.). The company decided to collaborate with Optus which contracted to pay 120 bucks[5]in cash every time it had activated a SIM card. One Tel grew very fast with this contract which eventually had a ripple effect as the number of subscribers increased from 16000 subscribers to 50000 subscribers. At a later stage, Optus asked to lower the deal value from $120 due to which companys profit went down. Analysis and research: With its strong offering and competitive pricing, One Tel was able to challenge the already established incumbent telecommunications companies and gave them a tough competition. Competitive pricing also meant price war with the already present bigger companies which ultimately eats into the businesses margins. In 1998 company took some major decisions which ultimately led to its downfall. It decided to have its own network that meant acquiring expensive licenses. But, company didnt have enough reserves which meant it went borrowing huge sums from investors at steep interest rates. News LTD. and PBL investment invested $430 million and committed to invest $280 million in future in return of 40% equity. In 2000 One Tels valuation rose to $3.8 billion. And after having valuation of 3.8 billion$ but it collapsed within 18 months of this. One of the other reasons for its downfall was managements over confidence and aggressive strategies to gain quick market share. Financial mismanagement A large proportion of revenue was provided on credit. They introduce the policy of chat at discounted rates due to which it suffered loss. Company was selling day to day services not at profit the prices were lower than the cost(reza, 2011). Conclusion After going public and taking money from investors (in return of huge chunks of equity), One Tel struggled to show any return on equity as there werent any real profits. The decision to build its own mobile network meant the company ended up burning 1.5 2 billion dollars. [6] Managements planning proved inadequate as they spent immense money in promoting and expanding business instead of focusing on its existing operations. Failed to balance the receivables and liabilities(david, 2011) Basically, company drowned because it was focusing much on sales volume rather than earning profit. Ethical violation Management after knowing the true situation chose to conceal the true information. Compromised integrity and ethical values by top management. Senior officers use to allegedly accept bribes. References Anon., 2013. the collapse of hih insurance. [Online] Available at: https://prezi.com/q1l75kpyq-pg/the-collapse-of-hih-insurance/. Anon., 2015. collapse of hih insurance company. [Online] Available at: https://www.ukessays.com/essays/business/collapse-of-hih-insurance.php [Accessed september 2017]. Anon., n.d. [Online] management at: https://www.youtube.com/watch?v=a4rcGpRXD9I. Anon., n.d. [Online] Available at: https://www.longdog.com.au/be-daring-not-risky/corporate-governance-and/collapse-corporate-governan.pdf. Anon., n.d. corporate failure for HIH insurance. [Online] Available at: https://www.slideshare.net/Kmittal928/corporate-failure-for-hih-insurance [Accessed september 2017]. Anon., n.d. Case Studies on the hih insurance. [Online] Available at: https://www.iaisweb.org/modules/cciais/assets/files/pdf/061004_BGN-0_hih_background_note.pdf [Accessed September 2017]. Anon., n.d. hih insurance. [Online] Available at: https://www.hih.com.au/ [Accessed September 2017]. Anon., n.d. One.Tel collapse business magnates. [Online] Available at: https://news.bbc.co.uk/2/hi/business/1360346.stm. david, w., 2011. [Online] Available at: https://onlinelibrary.wiley.com/doi/10.1111/j.1835-2561.2011.00151.x/abstract [Accessed 2017]. ferrier, t., 2016. closes file on abc collapse. [Online] Available at: https://www.news.com.au/national [Accessed thursday September 2017]. Keane, B., 2008. abc learning collapse. [Online] Available at: https://crikey.com/ [Accessed wednesday september 2017]. parker, g., 2016. ASIC probe ends. [Online] Available at: https://www.abc.net.au/ [Accessed september 2017]. reza, m., 2011. lessons for corporate governance. [Online] Available at: https://research-repository.griffith.edu.au/bitstream/handle/10072/42673/74746_1.pdf [Accessed september 2017]. SUMSION, J., 2012. [Online] Available at: https://researchoutput.csu.edu.au/ [Accessed September 2017]. wiley, j., 2003. The Inside Story Of Australia's Biggest Corporate Accounting. [Online] Available at: The Inside Story Of Australia's Biggest Corporate Collapse [Accessed september 2017]. [3] https://www.theage.com.au/news/National/Adler-guilty-on-4-charges/2005/02/16/1108500154731.html