Ponzi Scheme - 865 Words

Ponzi Scheme Corporate Finance A Ponzi scheme is an illegal business practice in which new investor’s money is used to make payments to earlier investors. In many Ponzi schemes, the fraudsters focus on attracting new money to make promised payments to earlier-stage investors and to use for personal expenses, instead of engaging in any legitimate investment activity. The returns are repaid out of new investors’ principal, but not from profits. This can continue as long as new investors line up with cash, and old investors don’t try to withdraw too much of their money at once. Ponzi scheme is named after Charles Ponzi, known as the Father of the Ponzi scheme and the infamous swindler, who paid out returns with other investors†¦show more content†¦He had started his business with a loan of $200, but within months he had two offices in Boston with a staff of dozens of employees processing sales, and he bought a modest mansion for $35,000. Of course, there were no actual profits, Ponzi had not actually bought the IRCs, and he paid early investors with the funds derived from later investors. This only worked well for him because of the rapid payments made to investors. People saw what he could do and they wanted in, so he was selling the IRC’s quickly and convincing people to reinvest their funds, he was able to postpone his financial obligations even longer. By the time the scheme collapsed his income was estimated at $1M per week, and late coming investors were defrauded of between $7 - $15M. The downfall started from some investigative journ alism, this led to the District attorney getting involved and Ponzi being charged. Most of Ponzis gains were seized in an involuntary bankruptcy hearing, and what little remained was spent in his subsequent legal battles. Ponzi’s scheme was exposed by newspaper reports in 1920 and despite his claims of innocence, a federal audit confirmed his operation was bankrupt, owing almost $4 million or more to investors. After investigation, Ponzi was charged with 86 counts of mail fraud and sentenced to five years in federal prison, and while incarcerated on federal charges heShow MoreRelatedPonzi Schemes : A Ponzi Scheme2297 Words   |  10 Pages A â€Å"Ponzi scheme† is defined by the SEC as investment fraud, that incorporates remuneration of professed returns to old investors from funds contributed by new investors. It could be thought of as a systematic process, requiring consistent fraudulent action and deceitfulness. Usually Ponzi schemes are generally short in length, but Madoff’s lasted for almost 30 years. In simpler terms, a Ponzi scheme is built upon the idea of robbing Peter to pay Paul, when in essence no real investment is made (MoafRead MorePonzi Scheme1146 Words   |  5 PagesPonzi Scheme Keller Graduate School Forensics Accounting The Bernie Madoff scam truly made history. Bernie Madoff probably would not have been able to prolong this scam without the continued help of the Accounting Firm of Friehling amp; Horowitz CPAs PC, who at last reported purported to audit financial statements and disclosures of Madoff firm for the last 17 years. Ponzi schemed to help Madoff by trying to go undetected because of Friehling deceiving investors and regulators by declaringRead MoreThe Scheme Of Ponzi Scheme1809 Words   |  8 Pagessugar up the schemes in order to make it look like a real one. Typically, scam makers claim they are savvy or skilled at investing. A Ponzi scheme is one of the common frauds in life. It is a special type of illegal pyramid operation (Wells, 2010). The scheme organizers promise high rates of return with little risk to investors. In many Ponzi schemes, the fraudsters do not invest the money. Instead, they use it to pay the earlier investors and may keep some for themselves. Ponzi scheme is predestinedRead MoreA Report On The Ponzi Scheme1627 Words   |  7 PagesExecutive Summary This report provides a breakdown and assessment of the Ponzi scheme run by American swindler and former stockbroker, investment advisor, and financier Bernard â€Å"Bernie† Madoff. The research draws attention to the biggest fraudulent scheme in U.S. history, emphasizing the use of the so-called Ponzi scheme. Madoff used a variety of techniques that made it difficult to disclose the scam. At the end of each month Madoff sold all stocks and financial instruments so that the hedge fundRead MorePonzi Scheme1384 Words   |  6 PagesA â€Å"Ponzi Scheme† is an investment fraud that involves the payment of alleged returns to existing investors from funds contributed by new investors. Ponzi scheme organizers often seek new investors by showing potential in their company; they entice investors to invest funds in opportunities claimed to generate high returns with little or no risk. In many Ponzi schemes, the fraudsters focus on attracting new money to make promised payments t o earlier-stage investors and to use for personal expensesRead MoreMadoff Ponzi Scheme1249 Words   |  5 PagesMadoff Ponzi Scheme 1.Recent Developments * February 4, 2009 The whistle blower Harry Markopolos has told his nine years of warnings to SEC officials without making any action. * Oct. 2, 2009.Jeffrey Picower, one of the greatest beneficiaries of the scheme, was found dead at the bottom of his pool. According to the autopsy report, he suffered a massive heart attack while in the swimming pool resulting in accidental drowning * December 12, 2010.Mark Madoff, son of Bernard Madoff, committedRead MoreThe Bernie Madoff Ponzi Scheme2588 Words   |  11 PagesIntroduction The Bernie Madoff Ponzi Scheme is a well-known case and is known as one of the biggest Ponzi scheme’s. In summary the scheme occurred for many reasons that I will some up into 3 points; A lack in competency by regulatory agencies, a lack of regulation, and finally a breach in ethics by Bernie Madoff himself. To explain further, the regulatory agencies like the lawyers and SEC are supposed to prevent schemes such as this one from happening but because they lacked the skills to correctlyRead MoreEssay The Madoff Ponzi Scheme3338 Words   |  14 Pageswhite-collar crime of all times, a Ponzi scheme. Similar to that of a pyramid scheme, a Ponzi scheme uses money from new investors to pay off the older investors. The term Ponzi scheme was developed with the first known con artist in such an attempt, Charles Ponzi, who in 1920 advertised that he could payout a 50% return on investments in only 45 days. As individuals throughout New Jersey and New England began investing, and somet imes mortgaging their house to do so, Ponzi was taking in millions of dollarsRead MoreHistory of the Ponzi Scheme Essay612 Words   |  3 PagesHistory of the Ponzi Scheme Is named after con man Charles Ponzi, a Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors.(SEC, 2013) . Typically Ponzi Schemes entice investors with ensuring higher returns rather than alternative investments, in the form of short-term returns that are either abnormally high or remarkably consistent. Top broker, Bernie Madoff, was found guilty of this scheme, which will furtherRead MoreMadoff Ponzi Scheme And Whistleblowers1151 Words   |  5 PagesMadoff Ponzi Scheme and Whistleblowers Due diligence is â€Å"A comprehensive appraisal of a business undertaken by a prospective buyer, especially to establish its assets and liabilities and evaluate its commercial potential.† (Oxford Dictionaries). Every investor and self-respecting business should do their homework before trusting any other business with their money. Fairfield Greenwich Group claimed a loss of $7 billion that has â€Å"vaporized† with Bernie Madoff (Blodget, H., April 1, 2009). The Fairfield

Heroin Essay Research Paper HeroinIn the past free essay sample

Heroin Essay, Research Paper Heroin In the past 20 old ages heroin usage has grown dramatically. Psychoactive drugs have become the immature individual # 8217 ; s largest job to face. Drugs have go a portion of even the most stereotypically normal household # 8217 ; s life. No workplace, place, or school can be wholly # 8220 ; drug proofed # 8221 ; . To populate with these drugs one must larn about them. Not cognizing the facts about diacetylmorphine will finally take to the drugs winning the game. What is heroin? Heroin is an opiate, which comes from the opium poppy. When the opium poppy dies, a white substance is left. This substance hardens and bends brown, going opium ( Smith, 13 ) . Heroin was created to handle morphia dependence for work forces coming place from WWI. Merely until it was excessively tardily was heroin discovered to be more destructive than morphia. What happens after a individual uses diacetylmorphine? Heroin is an opiate or a sedative that affects the encephalon # 8217 ; s pleasance and hurting systems. Heroin interferes with the encephalon # 8217 ; s ability to comprehend hurting and page 1 activates the encephalon # 8217 ; s pleasance system. Heroin is a fast-acting drug, particularly when injected or smoked. Injected diacetylmorphine reaches the encephalon in 15-30 seconds ; smoked diacetylmorphine reaches the encephalon in 7 seconds. How many people use diacetylmorphine? It is highly hard to gauge how many people use diacetylmorphine. There is understanding among epidemiologists that diacetylmorphine is the most under- reported drug in footings of use and that any usage statistics are undependable. Estimates range from 428,000 past-year diacetylmorphine users ( National Household Survey, 1995 ) to 600,000 past hebdomad diacetylmorphine users ( Office of National Drug Control Policy ) . On the other manus, some experts estimate that every bit many as two to three million people in the United States use heroin recreationally. How does heroin go habit-forming? Once a individual begins utilizing diacetylmorphine, he or she rapidly develops a tolerance to the drug and needs more and more to acquire the same effects page 2 ( Zackon, 45 ) . Within one month, a new user might necessitate much more than his/her initial dosage to acquire high. Many diacetylmorphine nuts have intense cravings for diacetylmorphine but happen it takes more and more diacetylmorphines to acquire high. A regular dosage may merely ensue in decrease of the utmost uncomfortableness associated with backdown # 8211 ; acquiring straight or being non vomit # 8211 ; but does non take to the good feelings of being high. Many users switch to injection as a more economical manner of usage. It takes less injected diacetylmorphine than smoked or snorted diacetylmorphines to accomplish the same effects ( Anonymous, 76 ) . Heroin is psychologically and physically habit-forming. The acute physical backdown is grueling and lasts up to 72 hours. During this clip, symptoms include purging, sickness, diarrhoea, cramping, and terrible shaking. It can take months or even old ages to retrieve from the physical dependence, and contending the psychological dependence is a lifetime conflict. During this # 8220 ; protracted # 8221 ; backdown, retrieving nuts conflict cravings and depression ( Anonymous, 75 ) . What are some names for diacetylmorphine? Heroin is referred to as slap, Equus caballus, clay, black pitch, Mexican clay, China white, large H, debris, big H, *censored* , # 8216 ; H # 8217 ; , brown, harry, boy, pot, brown sugar among many others ( Washburne, 61 ) . page 3 How can you state person is utilizing diacetylmorphines? Heroin users can be identified by many agencies: decelerate and slurred address, constricted students, droopy palpebras, impaired dark vision, dry tegument, itchiness, skin infections, purging ( at foremost usage, and subsequently at high doses ) , and # 8220 ; nodding off # 8221 ; ( at really high doses ) ( Washburne, 70 ) . I degree Fahrenheit anyone is found in this province it is imperative to seek aid from a dolophine hydrochloride clinic or other signifiers of dependence aid. Half gm bag What affects does diacetylmorphines hold on the head and organic structure? Along with the false euphory diacetylmorphine produces there are many short term and long term affects. A few short term affects are: decreased sexual pleasance, indifference to sex, sedation proceeding to coma, catamenial abnormality, decelerate irregular bosom rate, irregular blood force per unit area, reduced appetency, and irregularity. Long-run affects include: can impair immune system, soft tissues in certain nonvoluntary musculuss ( such as the bowels ) page 4 relax to the point of non working ( Zackon, 66 ) , HIV infection from injection, and decease from overdose. Why is diacetylmorphine appealing? Heroin causes false senses of euphory. The natural high worlds get from immaterial exercise is produced from endorphins. Heroin causes the secretory organs that create endorphins to pump out excess sums that human organic structures can non manage. The euphoric feeling is produced when the connexion of the drug and nervus cells are made ( Mendelson, 66 ) . Most heroin nuts have a feeling of insufficiency and low ego regard ( Mendelson, 89 ) . The procedure of determination, marking, and making diacetylmorphine is the false sense of success that drug addicts demand ( Smith, 25 ) . What is Heroin Withdrawal Like? Heroin and other opiate backdown symptoms are highly uncomfortable, but are non likely to be fatal or lead to lasting hurt ( Washburne, 63 ) . The symptoms occur because there is no longer plenty opiate nowadays to do a enjoyable, or even a normal feeling. The symptoms normally begin four to twelve hours after the last dosage. The page 5 symptoms typically reach their extremum in 36 to 72 hours. Early symptoms include: # 8220 ; goose flesh # 8221 ; , hot and cold flashes, runny nose, diarrhoea, abdominal spasms, hurting and cramp, joint ache, insomnia, unease ( # 8221 ; feels like the grippe # 8221 ; ) , yawning, crossness, and perspiration. The strength of the symptoms vary straight with the dosage and continuance of usage of the drug. These ague symptoms are normally greatly improved by the 5th twenty-four hours and are mostly gone by seven to ten yearss. ( This is true for diacetylmorphine but may change slightly with other opiates such as dolophine hydrochloride where the symptoms tend to come on later and last longer. ) . This ague backdown is followed by a # 8220 ; protracted abstention syndrome # 8221 ; from about hebdomad four to hebdomad 10 or longer. It consists of a mild addition in blood force per unit area, restlessness, ungratified slumber, crossness, and hungering for the drug. The Law It is illegal to provide or possess opioids without a prescription, or to green goods, import or export them without authorization. It is besides an offense to allow premises to be used for providing or bring forthing them. Heroin, morphia, opium, dolophine hydrochloride, dipapanone and pethidine are Class A drugs. Codeine and dihydrocodeine ( DF118 ) are Class B drugs unless they are page 6 prepared for injection when they become Class A drugs. Beginnings Cited Anonymous. # 8220 ; Heroin Horrors: Hard Drugs, Hard Realities. # 8221 ; Teen: October, 1997m 75- 76. Drug Abuse Carolyn Kott Washburne. 1997, San Diego: Aglow Books. Heroin Sandra Lee Smith. 1991, New York: The Rosen Publishing Group Heroin: The Street Narcotic Jack Mendelson, M.D. A ; Nancy Mello, Ph.D. 1986, New York: Chelsea House Publishers Methadone Jack Mendelson, M.D. A ; Nancy Mello, Ph.D. 1985, New York: Chelsea House Pusblishers Heroin Fred Zackon, M. Ed. 1986, New York: Chelsea House Publishers

Lost free essay sample

Although I may have been delusional, I was pretty sure I had heard a hallelujah chorus emanating from the heavens at the very moment my life was saved by the two most unlikely people on the face of the earth. I had just spent the most grueling five hours of my life in ninety-five degree heat, lost in 70,000 acres of Northern Michigan wilderness. As a young woman with strong Catholic convictions, even I considered striking a deal with the devil during that life-threatening challenge. How I got myself into that situation is quite a story. While searching the internet for a summer job more significant than burger flipping, I came across an advertisement that read, â€Å"Sleeping Bear Dunes National Lakeshore: Looking for a college student interested in interning as a field biologist†¦Ã¢â‚¬  My intellectual curiosity became aroused at the prospect of devoting my summer to something challenging and meaningful. I realized my age might prove to be a hindrance, but I was too intrigued by the opportunity to abandon the quest. We will write a custom essay sample on Lost or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page I contacted the chief biologist, and expressed my sincere interest in the position. He was convinced by my earnest appeal and allowed me to submit my application, though he said my chances were slimmer than those of the college students’. In addition to working hard on the requisite paperwork, I took the initiative to forward an essay explaining why age diversity would benefit the team. Fortunately, I got my interview and the job! I was on my way to Northern Michigan for the experience of a lifetime. My first week on the job was one of amazement and fascination. I collected water samples and tested them in the lab. I assisted with the programming of GPS systems, controlled invasive plants, and worked tirelessly with the endangered Piping Plovers – a feat in itself! A Piping Plover is not a flute-like instrument, nor is it a new-fangled skateboard trick. It is tiny white and black bird which lives on the pebbly shores of Lake Michigan. Over the summer months, the Plovers took over my life. I monitored them daily, built cages to protect them from predators, and helped maintain their habitat. Early one morning, my co-worker Lee and I set out in search of Plovers on the breathtaking 70,000 acres of forest and lakeshore. This trek marked my first time in the particular area. We drove separately to the location in government vehicles. The clear day was starting to become warm, so I removed my sweatshirt and tied it around my waist. Two hours into our hike, I was struck with absolute panic. Somewhere amidst the thick woods or the endless, sandy dunes, I realized the government keys and credit card had fallen out of my sweatshirt pocket. With a lump in my throat, tears welling up in my eyes, and fear in my stomach, I told Lee what had happened. Lee was a seasoned biologist and calmly suggested that I attempt to retrace my steps while he continued the pursuit of Plovers. My stomach was in knots as I thought about what a lost cause searching would be. I struggled to differentiate between markings left by humans and ones made by the grizzly bears I was sure would find me, kill me, and put me out of my misery. An hour into my scrimmage, I bore witness to a miracle. Hidden beneath a bit of sand was the lost treasure. As I arose, the fear I had experienced just moments earlier returned when I realized I had no idea how to get back to the vehicles. If this experience were to be made into a movie, at this point, the cameraman would closely capture the young actress’s expression, then zoom out slowly, from her, to the forest and dunes, and lastly to the world. After three hours, I could no longer appreciate the picturesque beauty that surrounded me. This precarious situation may have qualified as a simple dilemma for the likes of Survivorman, but it was difficult for a young girl more in tune with Abercrombie and Fitch. I began following endless paths that led me nowhere. Never in my life had I felt so helpless. If only I had possessed the magical ruby slippers, I could have clicked myself out of that nightmare. Eventually, I stumbled upon a path with promise and began to run. I was relieved to see a road up ahead. There was no sign of vehicle traffic or civilization. I plucked myself down on the edge of the road, scared and alone; I could relate entirely to Alice in Wonderland as I sat there, wondering what on earth I had gotten myself into. Had I not watched every season of Unsolved Mysteries, I just might have attempted hitch-hiking. With a bowed head, I sat thinking about my next move when I heard the faint sound of bells. I looked up as two elderly women on bicycles approached. I stood up and eagerly asked if either of the women had a cell phone I could use. After explaining my series of unfortunate events, the women appeared sympathetic to my plight and offered me an unopened bottle of water and a cell phone. At that moment, even the most riveting bottled-water commercial could not compare to the pure water perfection I ravenously gulped down with every breath. When I finished the very last sip, I called my mom. The two God-sent women remained with me until another savior arrived: my mom! Biding time, I shared with the women tales of my school, my friends, and my life. We traded smiles as they assured me that my prayers had been answered. The women turned out to be nuns with the Sisters of America, who had been visiting Northern Michigan for a short bicycle race. My smile broadened with this disclosure. I began to laugh because it was then I realized something about the world: it is so small, so ironic, and so truly beautiful. It is so statistically improbable for a young girl, working in the field of science, to stumble upon religion in such an unexpected way. The Greek philosopher Heraclitus once wrote, â€Å"Not all who wander are lost.† Through my experience, I learned wandering is one of the most vital aspects of life. The unsteady side-trails provide a connection to unique and previously unsuspected interests. My main goal in life is not to search for a direct root to my future, but to continue to be persistent in pursuing my deepest destiny through various paths. Life, I have learned, is about taking chances and risking security in hopes of stumbling upon something great. I have come to gracefully accept life’s challenges with an open-mind, and though unsure of my options, remain confident in my choices. In college, I do not plan on limiting my studies to those on the paved road. I hope to take advantage of the world’s endless amount of knowledge, and someday instill something significant back into it. I believe the freedom to explore my interests, discover my true destiny, and continue to grow into the wisest p erson I can become, would be best granted by the University of Michigan. This will certify that the above work is completely original. Jesse Laurel Kurowski

Pupl Fiction essays

Pupl Fiction essays Music is an important part of every film. Even before there were talking pictures the filmmakers used music as background noise to help tell the story. With or without words music can be so powerful that it increases the intensity of the film immensely. Can you imagine Fantasia without all of its classical scores? There are many theories about music in film today. While some believe it adds a lot to film others think that music should never be secondary to images. I believe that the two go hand in hand equally to bring the best of the audio and visual worlds together. Especially now that lyrics have come into play. The words of a song can bring so much more emotion to a scene than dialogue can in certain cases. I have found this amazingly true in The Graduate. Simon and Garfunkel take the concept of music in film to a new level by having the movie explained in their lyrics. To me, Sound of Silence becomes the subconscious Ben Braddock. The words of the song delve into his inner self to try to describe his thought and feelings. This paper will interpret the lyrics of Sounds of Silence in accordance with The Graduate. This is important because by explicating the lyrics the depth of the film becomes more dynamic. Hello darkness, my old friend I've come to talk with you again Because a vision softly creeping Left its seeds while I was sleeping And the vision that was planted in my brain Still remains Within the sound of silence The song begins with the outer layer of Bens mind and steadily moves inward as he begins to understand himself better. In the beginning he comes home after graduating from college with an intense fear of the future because of the fact that he has no plans. To him, the future is darkness, as it always has been when he did not know what was to happen next. While at college, Ben involved himself in many activities to ignore the thoughts of the ever-looming obscurity. Although, ...

An information system

An information system Introduction: An information system is a set of interrelated components that collect or retrieve, process, store and distribute information to support organisational decision-making and control. One of the key issues with ‘information systems’ (IS) (these days) is that companies cannot measure if they are becoming more profitable or efficient by using the systems that they purchase. In a study done by KPMG on 200 UK firms, around seventeen billion GBP is lost each year due to the mismanagement and misalignment of information technology (IT). One way to evaluate a firms’ IS usefulness is to use the resource-based view â€Å"inside-out approach,† which means that a company should identify its core business values and in turn, align these goals with a suitable information system that will fulfil these needs. Often times, however, large multinational firms implement new technology, regardless of whether it benefits the company or not and there is no way to mea sure results. Therefore, it is beneficial to look at a firm who has implemented a successful IS, for which it receives its competitive advantage. Inditex is a major holding company based in La Coruà ±a, Spain, which maintains controls over popular clothing stores such as Zara, Massimo Dutti and Bershka amongst others. For the purpose of this report, we will look at Zara in more detail, a store known for its high fashion for reasonable prices, with many clothing stores in prime locations in metropolitan cities around the world. It competes with other clothing stores such as H&M and Gap but it sets itself apart from them using its savvy information system and rapid production schedule. For the purpose of this report, we will examine Zara’s Technological and Socio-Economic Environment along with Zara’s knowledge chain management to evaluate its alignment of information technology as a function of Zara’s business strategy. IT in alignment with Business Strategy: Zara’s business strategyis to provide fast fashion for low prices. Based on this principle, one of Zara’s developed core competencies is its effective and minimalistic approach to utilizing IT for the purpose of timely knowledge transfer, fast production turnaround and employee empowerment. Aspects beyond which are not directly connected to Zara’s core competencies, the company prefers to outsource, such as its logistics. In order to understand the effects of IT on Zara’s business model, we must take into consideration the technological and socio-economic factors affecting Zara, such as its management process, employee skills, technology, structure and strategy. The management process: The management processof Zara is supported by its holding company Inditex, who manages other popular European brands such as Massimo Dutti, Pull and Bear, etc. however, each clothing store is distinct because Inditex supports organisational learning, as opposed to maintain ing firm control on these stores. Not only is each entity separate, but management encourages employee empowerment at Zara by allowing its employees the flexibility to choose new clothing designs for its store on a bi-weekly basis. Therefore, in just one city alone, one Zara store may have significantly different inventory than another Zara store up the road. Despite these differences, Inditex is still able to create economies of scale and scope based on the learning curve between its inter-related brands.

McCardell Enterprises Essay Example | Topics and Well Written Essays - 750 words

McCardell Enterprises - Essay Example He knows Mccardell’s Enterprise intensions of wanting to acquire the Johnston International and depending on how I play my cards he might end up letting out the secrets which will have negative legal implications to the company. If Mr. Jones, in one way or another, manages to share this information with Johnston International of which McCardell Enterprise tends to acquire, it might be legally perceived to be corporate or industrial espionage which will compromise McCardell’s Enterprise legal position Industrial or economic espionage takes place in two major forms. The main purpose of espionage is to collect knowledge about an organization. It may sometime involve the acquisition of intellectual property, such as information on the manufacturing procedure, techniques, ideas processes, formulas and recipes. Or it could include operational information or sequestration of proprietary, such as that on customer datasets, marketing, pricing, sales, research and development, prospective bids,policies, marketing strategies or planning and the change in compositions and locations of production. In this regard, I think that Mr. Jones might be an espionage agent who is spying for McCardell’s Competitors like J.E. Smith & Sons (Nasheri, 2005). He could be another spying agent working for a different company who wants to find out the amount of details that my department knows about the companies that we intend to acquire. It will therefore be important for me to share this information with the CEO in order to determine his position on this issue (John, 2009). One of the most efficient method to collect information and data, which Mr. Jones might be employing, is by infiltrating the ranks of your enemy. The spying agent can bring back all manner and sorts of vital information that concerns the strength and size of the competitor (Walker, 2011).

How Social Responsibility of Corporations Relates to Business Ethics Assignment

How Social Responsibility of Corporations Relates to Business Ethics - Assignment Example The Government must play its role in harnessing the skills attached to the corporate sector in finding out the better means in which it can benefit the society. For that certain loans and grants can also be fixed for a certain company depending on its market level in the business world. Extensive research has found that corporate responsibility is becoming an essential part of any company’s day-to-day undertakings. Thus, the responsibility played by the Government as well as the citizens in this regard should be quite eloquent and expressive. Their voice is given due value by the company and it does just about everything to get more and more customers and consumers which in turn excites it to search for better means to get the very same people. This, in turn, attracts the company to sponsor big events and sports galas, competitions as well as come towards social welfare works, which really benefits the society in more than one ways. Mr Higgins, who completed a research on the local community, was not that enthusiastic about the role played by these companies in the social sector. People, according to him, were of the view that these companies filled in social responsibilities to a certain limit and not beyond that extent where other large organizations jumped in and took the lead. For the small business owner, CSR means a different thing altogether. He sees it in a different attitude encompassing his own business and its responsibilities fulfilled for the betterment of the society or let alone none at all. Corporate Social Responsibility helps as a survival agent for any business in the new atmosphere of an economy. By that, it means whenever the economic climate changes, it favours the CSR that has been initiated by a business with respect to its role in the fulfilment of the social responsibilities. This can be regarded as an advantage of CSR whereby the business gets a slight edge as opposed to the other ones in the corporate world who haven’t actually started with the idea of investing with consideration to the society in the forms of different sponsors, helping of non-Governmental organizations and the like.