Business and Social Responsibility Essay - 406 Words

Business and Social Responsibility It is widely known that for a business to be successful it needs to provide a good or service that is desired by the public and also to obtain a profit in providing said good or service. Now while these are the most important components to a successful business, they are not the only ones. The social responsibilities of a business include the following: environmental protection and preservation, employee safety and morale, product safety for the consumer. The financial manager must keep these three social responsibilities in mind when making any and all decisions. The environment has become a big issue over the last 30-40 years, especially for the businesses that may negatively affect it.†¦show more content†¦In turn this bad publicity has negatively affected the business and in a lot of cases, caused the business to fade away. It is the job of the financial manager to oversee these environmental issues and make socially responsible de cisions not only to avoid bad publicity, but to do their part in aiding the environment in a financially sound manner. A businesss employees are probably the most important part of the organization. In short, if there is something that hinders the performance of the employees the whole company suffers. Providing a safe and stimulating work environment is another thing that a financial manager should do to efficiently and effectively turn out a superior product. By keeping employee accidents to a minimum a business will avoid costly lawsuits and down-time. Every business must realize that an unsafe product will not last in the open market and will, in the long run, cost more money to correct. The financial manager must understand that, above all, the product must be safe. He/she must decide the most cost-effective manner to manufacture the product and also have it deemed safe to use. I believe that this detail of product safety should be addressed very early on in the production process, as should the other two. In conclusion, a business has an obligation to return something to society. Although the financial managers main purpose is to acquire and control funds efficiently and effectively to maximizeShow MoreRelatedThe Social Responsibility Of Business932 Words   |  4 PagesA corporation does do business within a vacuum; rather exist as part of larger collective framework of society, stakeholders and a global business community. I believe that corporations which are profitable, and promote moral and ethical standards are the benchmark of success; additionally, corporations bear a great social responsibility to the society it exists within, an simply working within â€Å"the basic rules of society, both those embodied in law and those embodied in ethical custom† is not enoughRead MoreBusiness and Social Responsibility1140 Words   |  5 PagesWhen a business gets incorporated regardless of the business size and the nature of profession requires an adequate execution methods for being successful and to achieve its goals. Some of these goals can be short-term or long-term, depends on the nature of business. Likewise, these execution methodologies can be vary time to time as the corporate needs to satisfy different groups of people such as : top hierarchy stakeholders, staffs ,shareholders, and even non-related business groups such as environmentalistsRead MoreThe Social Responsibility Of Business1422 Words   |  6 Pagesthe business be held accountable for these actions? In his essay â€Å"The Social Responsibility of Business Is to Increase Its Profit† Milton Friedman, powerful economist, discusses what a business should prioritize in the economic system. Friedman declares what a business is responsible for and the guidelines they must follow. Due to Friedman’s view, he would not have condoned the actions and decisions that the executives at Ford Motor Company took. Friedman argues that the only responsibility a businessRead MoreThe Social Responsibility Of Business1042 Words   |  5 PagesCorporate Social Responsibility is defined as a business preparation that involves participating in creativities that help society. Friedman: The Social Responsibility of Business is to increase its profits. Milton Friedman argues that the only social responsibility a business has is to itself – mainly to its profits, and therefore, its stakeholders. The business management in charge of a company works for the organization and eventually for the stakeholders. This person is responsible for carryingRead MoreThe Social Responsibility of a Business647 Words   |  3 Pagesï » ¿The Social Responsibility of Business: The role of business in the society became a major aspect across business after Milton Freedman wrote the most provocative article in 1970. As an economist, Freedman stated that the main purpose of businesses is to generate profits for its shareholders. Furthermore, he argued that companies with responsible attitudes were likely to encounter increased binding constraints unlike those that lacked these attitudes, resulting in them becoming less competitiveRead MoreThe Social Responsibility Of Business787 Words   |  4 Pages The economist and Nobel laureate Milton Friedman’s article published in The New York Times Magazine in 1970 titled, â€Å"The Social Responsibility of Business Is to Increase Its Profits.† (NYTimes, 1970) set tone for companies all across the country and all over the world. Companies start to turn in profits that shattered all charts and stock markets. Beginning in 1960s to 1990s, Capitalism had won the cold war with its arch rival the Soviet Union had withered away into the oblivion and the companiesRead MoreThe Social Responsibility Of Business1437 Words   |  6 Pagesthe business be held accountable for these actions? In his essay â€Å"The Social Responsibility of Business Is to Increase Its Profit† Milton Friedman, powerful economist, discusses what a business should prioritize in the economic system. Friedman declares what a business is responsible for and the guidelines they must follow. Due to Friedman’s view, he would not have condoned the actio ns and decisions that the executives at Ford Motor Company took. Friedman argues that the only responsibility a businessRead MoreThe Social Responsibility Of Business2053 Words   |  9 Pagesevolution-taking place; now the level of a business social responsibility has become increasingly integrated into modern business practices. This focus has seen both advantages and disadvantages to the business. However, to what extent has the use of the greater focus of a business social responsibility affected its competitive advantage in its marketplace. CSR is described as; â€Å"the principle that companies can and should make a positive contribution to society, of managing the social, environmental and economicRead MoreSocial Responsibility Of A Business1444 Words   |  6 Pagesareas of business and nonprofit management. However, Cohen’s article on social responsibility drew a lot attention from other scholars like Friedman. In view of this, this paper will discuss and define the concept of social responsibility of a business to its workers, stakeholders, and society; how the perspectives align with that of Drucker; comparing Cohen’s opinion with that of Friedman and finally determines which of the two individual’s opinion best aligns with the current business climate promotingRead MoreThe Social Responsibility Of Business Essay1959 Words   |  8 Pagesagree or disagree with the following quotation: â€Å"There is one and only one social responsibility of business—to use its resources and engage i n activities designed to increase its profits so long as it stays within the rules of the game, which is to say engages in free and open competition, without deception and fraud.† Milton Friedman, a Nobel Prize winning economist. In other words, the social responsibility of business is to make a profit. I do not agree with the following quote by Milton Friedman

Discussing Planned Nursing Interventions Health And Social Care Essay Free Essays

The survey was supported by other survey like Kersting M. , Sichert-Hellert W. , et. We will write a custom essay sample on Discussing Planned Nursing Interventions Health And Social Care Essay or any similar topic only for you Order Now al. , ( 2008 ) conducted a survey on nutrient and alimentary consumption, nutritionary cognition and diet-related attitudes in European striplings. To supply an overview of methods used to measure nutrient and alimentary consumption, nutritionary cognition and diet-related attitudes in the healthy life style in Europe by nutrition in adolescence cross-sectional survey ( HELENA-CSS ) , with selected consequences from the feasibleness survey. To measure nutrient consumption in 13 to 16 twelvemonth old striplings, a antecedently developed computing machine assisted and self-administered 24 hr callback was adapted for international usage. Food ingestion informations were linked to national nutrient composing databases to cipher energy and alimentary consumptions. To measure nutritionary cognition in students non holding any particular ( trained ) instruction refering nutrition, a 23-item validated multiple pick questionnaire was adapted. To measure eating attitudes, behavior and / or put ative jobs with organic structure weight in striplings, a validated stock list covering 60 inquiries or statements was adapted for the survey. in a feasibleness survey, instruments, informations aggregation and processing were tested in one school category in each of the 10 take parting European metropoliss. The feasibleness survey provided plausible consequences, rather consistent between states. Against this background and for the first clip, standardized and unvarying methodological analysis was made available for the chief survey to measure and qualify dietetic consumption, nutritionary cognition and eating attitudes. The survey was supported by other survey like Eyles, H. , Mhurchu, CN, et.al. , ( 2009 ) conducted a survey on nutrition instruction resources for a multiethnic population in New Zealand. A general inductive attack was applied to place common subjects around participants understanding and ideas on relevancy and utility of the bill of exchange resources. Feedback from focal point groups was used to modify resources consequently. Five subjects emerged across all focal point groups and guided alteration of the resources: ( I ) perceived higher cost of healthy nutrient, ( two ) trouble in altering nutrient buying wonts, ( three ) deficiency of cognition, understanding and information about healthy nutrient, ( four ) desire for personally relevant information that uses ethnically appropriate linguistic communication and ( V ) other barriers to healthy feeding, including limited handiness of healthy nutrient. Many issues affect the likeliness of purchase and ingestion of healthy nutrient. These issues should be taken into history when developing nutritionary stuffs for New Zealanders and perchance other multiethnic populations worldwide. Objective – 3: To Assess and compare the average pre-test and post-test pattern mark on healthy nutrient wonts among samples. In this survey the pretest and post-test pattern was assessed by cheque list on healthy nutrient wonts among samples. The assorted facets of pattern includes, washes custodies before holding snacks/lunch, conveying healthy bites, conveying healthy tiffin, puting the towel on the lap, eating the nutrient without spilling, ate nutrient wholly, etc. The pre-test mean per centum pattern mark was 72.85 % . After measuring the pre-test patterns Planned Nursing Invention was implemented to the samples. The post-test mean per centum pattern mark was increased to 93.5 % . The mated ‘t ‘ value for pattern was 10.34* and table value is ( t39=2.021 ) it shows that it was important at piˆ?0.05 degree. To analyze the Zakdad Zymenia, ( 2006 ) conducted survey effectivity of dietetic intervention in kids a simple fleshiness on the prohibitions of thorough analysis of their slate of nutrition method of eating wonts and impact of other environmental facts. The consequence showed that simple in kids aged 3-15 old ages is connected familial and environmental factors, including in right eating wonts. Objective-4: To find the association between the average pretest patterns among samples with their selected demographic variables. In this survey, the association was analyzed by utilizing chi-square between average pretest pattern among samples with their selected demographic variables. The determination shows that there is no important association between pretest pattern with their gender, educational position of the female parent, and occupational position of the female parent at piˆ?0.05 degree. The above findings was supported by the survey conducted by Elpydes, ( 2002 ) survey. It included demographic information on age, school and class, sex, nationality of parents and grownups populating with the pupil. The consequence is satisfactory ( i2 = 0.64 ) while its repeatability was tested and verified at an earlier phase in a sub-sample of 50, 5th and 6th class simple pupils. Summary This chapter dealt with the treatment of the research findings with support survey, findings based on each aim. How to cite Discussing Planned Nursing Interventions Health And Social Care Essay, Essay examples

Ethics Research Indian Journal Dermatology -Myassignmenthelp.Com

Question: Discuss About The Ethics Research Indian Journal Dermatology? Answer: Introduction In the current commercial sector, in the global framework, with increase in the complexities and variability in the business operations of the enterprises, transparency has become one of the primary issues of concern among the participants in the commercial operations. Transparency and clarity in business operations are of utmost importance not only for stakeholders who invest on the companies, but also for the companies themselves as a lot of their goodwill and future prospects are dependent on the trust and loyalty of the investors and shareholders as well as their clients. A clear, inclusive and timely reporting of the financial and other business activities is therefore an important task on part of the commercial enterprise (Cohen et al. 2012). The research proposal takes into account the viability and appropriateness of integrated reporting mechanism in this aspect. Importance of Integrated Reporting: In any kind of business for proper and smooth running of the business operations and for achieving cost efficiency and economies of scale in production, to increase the sustainability and future prospects of the commercial enterprises, it is important to keep a clear monitoring tab on the financial and overall commercial operations of the enterprises. This can be done in the form of forming a comprehensive and all-inclusive compact report on a regular interval (Busco 2014). The reports, published by the enterprises are usually made available to all the stakeholders and they act as an important tool for the purpose of decision making on part of the stakeholders with respect to the amount to investment, where to invest and when to invest. In this context, various forms of corporate reporting have evolved over the years, as per the needs and changes in the dynamics of the global business activities. These reports are of both financial and non-financial in nature. However, though corporate reporting has evolved a lot with time and has incorporated many of the complexities and changed nature of business operations, there are still several crucial gaps existing in most of the corporate reporting mechanisms (Ioana and Adriana 2013). Most of these reports, though take into accounting the major financial and corporate details, fail to mostly take into account the underlying economic insights and non-monetary aspects of doing business, which also play significant role in determining the prospects of the companies in short term as well as in long term. The reports also fail to take into account the externalities (both positive and negative) that occur in response to the activities of these enterprises (Brown and Dillard 2014). These gaps in corporate reporting, which causes problems in decision making process of the stakeholders, give rise to need for a more inclusive and versatile reporting, which in its turn indicates towards implementation of integrated reporting, which, in one document tries to make a holistic representation of the financial and non-financial aspects of the commercial enterprises. This form of reporting thus, poses as an effective method of communication and stakeholder management and thus, is an area of interest in the field of research regarding improving efficiency in accounting aspects (Eccles and Krzus 2014). Research Question: The concerned research deals with the primary question of the efficiency and viability of the mechanism of integrated reporting as a robust alternative to the existing conventional methods of accounting reports that are undertaken by the enterprises. The research emphasizes on the efficiency of this type of reporting in the field of transparency and sustainability of the business; operations of a firm and also tries to analyze the impact of such reporting on the stakeholders business behavior and there communication with the commercial enterprises. In simpler words, the purpose of this research is to see how efficient a tool this integrated reporting can become in the aspect of stakeholder management and accountability of the commercial enterprises. Literature Review: Integrated reporting, as a alternative form of corporate and accounting report tool, came into existence in a very recent period. However, though this issue is getting considerable attention in the current period, not many literature and works are available in this aspect across the world. Nevertheless, several crucial and extensive research has been done in this aspect, which have considerable significance in developing this form of corporate reporting as a robust mechanism, taking into account its prospects, feasibility and limitations to work upon (Frias?Aceituno, Rodrguez?Ariza and Garcia?Snchez 2014). De Villiers, Rinaldi and Unerman (2014), in their extensive research paper on integrated reporting and its insights and gaps, takes into the importance of social and environment reporting in the business world and shows the historical path of transformation of the forms of commercial reporting. It also shows the , in this context, need and the emergence of integrated reporting as a different and potential form of a comprehensive corporate reporting in the contemporary business world. The authors take into consideration the different concepts of accounting and accountability research with regards to the fast expanding domain and increasing popularity of integrated reporting. They also stresses on the limitations of this comparatively newer form of corporate reporting and provides useful insights regarding the areas which need developments in this regard and the steps which can be taken for improvisation of integrated reporting (Parrot and Tierney 2012). In undertaking any kind of mechanism for forming a robust and inclusive report which reflects the performances as well as the prospects and sustainability of a company, it is necessary to focus on the construct of such report. What areas should be included and which aspects of the financial and non-financial operations and performances of the commercial enterprises are to be taken into account such that the report comes to use to the stakeholders of the concerned enterprise are important issues of concern. Abeysekera (2013), ventures into this arena in his scholarly works. In the research paper, the author gives an elaborate outline of the concept of the integrated reporting and also provides a proposed template of integrated reporting which can be taken into account by the commercial enterprises. This paper is one of the pioneers in the aspect of providing an impressive template regarding integrated reporting and is therefore, expected to be of immense contribution in the concerned research regarding the viability of implementation of this form of reporting in the business frameworks in the global scenario. The impact of this form of reporting on the overall performance of the firms undertaking this type of reporting is seen in the paper of Lee and Yeo (2016). According to the authors, there are direct and mostly positive implications on the valuation of the enterprises, which are undertaking this form of reporting. The paper also asserts on the notion that if the integrated reporting is done appropriately, then it will not only benefit in making the performances of the enterprise transparent to the clients and the stakeholders but will also help in making the production process of the enterprise more cost effective. This is because, as the author suggests, a proper construct of integrated reporting helps to take into account the financial as well as the non-financial, external and the environmental factors which affect the commercial and production operations of the enterprises. Churet and Eccles (2014), also takes into consideration the positive implications of integrated reporting on the overall increase in the efficiency and prospects of the business organizations and their improvement in performances. The paper categorically focuses on the implications of this type of business reporting on the communication aspects with the stakeholders and ventures in the arena of management of the stakeholders and increase in the accountability of the enterprises that can occur if this type of reporting mechanism can be endured by the commercial enterprises. Therefore, the arena of venturing of this paper is very close to that of the primary research domain and the research question of the concerned study and this paper can be of important reference for the same. Integrated reporting, being a very new concept in the corporate domain and still remaining unexplored to a substantial extent, there can be many areas of limitations or drawbacks in this aspect. Just like the papers asserting the positive aspects of this type of reporting, there are also scholars and researchers who are not quite optimistic regarding the viability of this kind of integrated reporting. In his paper, Steyn (2014) took into the perceptions of the primary potential users and makers of this kind of reports that is the chief financial officers, regarding the cost effectiveness of implementing integrated reporting in the business activities of the organizations. According his findings, the cost of implementation of such form of reporting can actually surpass the benefits that are to be accrued from these reports and thus, the author raises a vital question regarding the feasibility of such form of reporting for the commercial enterprises, especially those which are driven b y profit motives. To make the research a robust interpretation regarding this form of reporting, this article can be of significant usage. In this context, Flower (2015), talks in favor of the views put forward by Steyn (2014), but from a different perspective. In his paper, he takes the reference of the performance of the International Integrated Reporting Council from the time of its establishment in 2010. As per the findings of the paper, it can be seen that though the basic objective behind setting up this council was ensuring incorporation of sustainability in the accounting and overall reporting of the corporate performances of the enterprises, within a short span of time, the council got entangled in regulatory and constricting norms. This in turn caused a deviation of this body from its basic objective and purpose, as suggested by the author. Thus, the literatures, reviewed above are relevant to the research objective and they can be referred to, while conducting the research, for the purpose of taking guidance and incorporating the ideas as well as the hurdles which are expected to be encountered while doing the same. Accounting Theories relevant to Integrated Reporting: In the context of construction of integrated report and for studying the applicability of this kind of reports for the commercial enterprises, it is required to see their viabilities with reference of the theoretical framework and the existing accounting theories. Any measure or new implementation of any framework without a robust theoretical support can create problems, both anticipated as well as unanticipated. The research, therefore, tries to take into account several key accounting theories like agency theory, stakeholder theory and also the theory of stewardship and tries to analyze the working and implications of integrated reporting in the perspectives of these theories individually (Hahn and Khnen 2013). Agency Theory: Based on the Neo-Classical Framework, the theory deals with the notion that all the financial and non-financial activities and liabilities of the commercial enterprises are taken into account. It keeps into consideration that the main objective of any kind of business activity is to maximize the benefits and the welfares of the shareholders who are connected with the concerned enterprises (Ballwieser et al. 2012). Working on the assumption of disparity in information existing between the agent and the principal, the theory requires the construction of a wholesome information system. This system should be enabling enough to work towards ensuring transparency in business operations as well as maximizing the profits of the enterprise and the overall welfare of the agents attached to the concerned enterprise. Therefore, this theory indicates towards a form of reporting similar to the concept of the integrated reporting (Bosse and Phillips 2016). Stakeholders Theory: This theoretical concept deals with the role of the presentation of the social information in building the communications and relations between the different agents involved in a particular commercial activity, including the shareholders, the government and the society as a whole. The model looks into the aspect of accountability of all the agents participating in the business activities. This therefore, also has relevance in the context of integrated reporting and thus will be taken into account in the research (Harrison and Wicks 2013). Stewardship Theory: According to this theory, the main purpose of the managers of the commercial enterprises is not to work towards the achievements of their personal goals, but to work towards the fulfillment of the organizational objectives, which are set to maximize the overall welfare in the broad spectrum, under the framework of the principles. Thus, for this purpose and for the fulfillment of the broad goals, as suggested by the Stewardship Theory, integrated form of reporting can come in handy as an important tool. Therefore, this theory is also incorporated in the concerned research regarding the integrated reporting as a whole (Segal and Lehrer 2012). Methodology: As the research is mainly on the viability of integrated reporting in the current business world, as a robust and better alternative to the existing reporting methods, it is important to take into account the theoretical as well as the practical perspectives regarding this scenario. The research therefore aims to form a strong theoretical construct the feasibility, need, applicability and areas of further development of integrated reporting management (Brinkmann 2014). Along with that the need to incorporate the views of the relevant personnel, who are directly or indirectly linked or affected by this kind of reporting, is also felt in this context. For incorporation of their views, the research aims to undertake comprehensive interviews of qualitative nature, of such personnel, in order to increase the strength of the study (Silverman 2016). The following are the several key questions, which are aimed to be put forward to these people in this context: What type of corporate reporting and accounting is best for the commercial enterprises? Why the method suggested by the person is the most appropriate one in his or her opinions? What are the benefits of the suggested form of reporting from the perspectives of the stakeholders? What are the drawbacks of such forms of reports? What is persons idea about integrated reporting? Can integrated reporting be a better alternative to the existing conventional forms of reports? What are the prospects of integrated reporting regarding the accountability of the firms? Will implementation of integrated reporting increase the benefits of the stakeholders? What are the drawbacks of implementation of such form of reporting by the corporate organizations and what are the hurdles that they are expected to face in this context? What are the measures which can be incorporated to make integrated reporting a more robust and wholesome mechanism of presentation of the useful financial as well as non-financial information? Ethical Approval: For undertaking and conducting any research, it is of immense importance to know about the ethical requirements that are needed to be met while carrying out the research, for which the following steps are to be taken: Ethical approval is required to be taken from the ethical body of the institute, for which the application will be done (Singh 2012). Cooperation regarding the risk assessment of the project, which will be done by the ethical body, is promised on part of the researcher. After the approval of the ethical body, the permissions should be sought from the persons who will be interviewed. The permission will be in a written format with their signature taken as a sign of their consent to give interview (Liamputtong 2013). References Abeysekera, I., 2013. A template for integrated reporting.Journal of Intellectual Capital,14(2), pp.227-245. Ballwieser, W., Bamberg, G., Beckmann, M.J., Bester, H., Blickle, M., Ewert, R., Feichtinger, G., Firchau, V., Fricke, F., Funke, H. and Gaynor, M., 2012.Agency theory, information, and incentives. Springer Science Business Media. Bosse, D.A. and Phillips, R.A., 2016. Agency theory and bounded self-interest.Academy of Management Review,41(2), pp.276-297. Brinkmann, S., 2014. Interview. InEncyclopedia of Critical Psychology(pp. 1008-1010). Springer New York. Brown, J. and Dillard, J., 2014. Integrated reporting: On the need for broadening out and opening up.Accounting, Auditing Accountability Journal,27(7), pp.1120-1156. Busco, C.A., 2014.Integrated reporting. Springer,. Churet, C. and Eccles, R.G., 2014. Integrated reporting, quality of management, and financial performance.Journal of Applied Corporate Finance,26(1), pp.56-64. Cohen, J.R., Holder-Webb, L.L., Nath, L. and Wood, D., 2012. Corporate reporting of nonfinancial leading indicators of economic performance and sustainability.Accounting Horizons,26(1), pp.65-90. de Villiers, C., Rinaldi, L. and Unerman, J., 2014. Integrated Reporting: Insights, gaps and an agenda for future research.Accounting, Auditing Accountability Journal,27(7), pp.1042-1067. Eccles, R.G. and Krzus, M.P., 2014.The integrated reporting movement: Meaning, momentum, motives, and materiality. John Wiley Sons. Flower, J., 2015. The international integrated reporting council: a story of failure.Critical Perspectives on Accounting,27, pp.1-17. Frias?Aceituno, J.V., Rodrguez?Ariza, L. and Garcia?Snchez, I.M., 2014. Explanatory factors of integrated sustainability and financial reporting.Business strategy and the environment,23(1), pp.56-72. Hahn, R. and Khnen, M., 2013. Determinants of sustainability reporting: a review of results, trends, theory, and opportunities in an expanding field of research.Journal of Cleaner Production,59, pp.5-21. Harrison, J.S. and Wicks, A.C., 2013. Stakeholder theory, value, and firm performance. business ethics quarterly,23(1), pp.97-124. Ioana, D. and Adriana, T., 2013. New corporate reporting trends. Analysis on the evolution of integrated reporting.Annals of the University of Oradea, Economic Science Series,22(1), pp.1221-1228. Lee, K.W. and Yeo, G.H.H., 2016. The association between integrated reporting and firm valuation.Review of Quantitative Finance and Accounting,47(4), pp.1221-125Stewardship Theory:ong, P., 2013.Qualitative research methods. Parrot, K.W. and Tierney, B.X., 2012. Integrated reporting, stakeholder engagement, and balanced investing at American electric power.Journal of Applied Corporate Finance,24(2), pp.27-37. Segal, L. and Lehrer, M., 2012. The institutionalization of stewardship: Theory, propositions, and insights from change in the Edmonton Public Schools.Organization Studies,33(2), pp.169-201. Silverman, D. ed., 2016.Qualitative research. Sage. Singh, S., 2012. Ethics in research.Indian Journal of Dermatology, Venereology, and Leprology,78(4), p.411. Steyn, M., 2014. Organisational benefits and implementation challenges of mandatory integrated reporting: Perspectives of senior executives at South African listed companies.Sustainability Accounting, Management and Policy Journal,5(4), pp.476-503.