Assessment of Creativity Essay Example | Topics and Well Written Essays - 250 words

Assessment of Creativity - Essay Example This kind of research is done in controlled conditions, where there are some certain kinds of instructions given are the same (Kaufman & et al. 2004). There are many kinds of tasks given to test creativity. These include mathematical problems, puzzles, poem writing and story writing. The disadvantage with this kind of test is that it cannot be done to already existing innovations. It only exists in a controlled environment. It is very disadvantageous as creativity cannot be limited to a vacuum (Kaufman & et al. 2004). The Mathematical Creativity Problem Solving Ability Test is a test developed to identify those who are mathematically gifted (Kim & Ahn 2003). The ability to provide new solutions using already existing knowledge of concepts involves thinking methods and principles. There are four stages involved in creative math problem solving. This includes identification of the problem, the formation of a plan to solve the problem, execution of the plan and analysis of how well the problem was solved (Kim & Ahn 2003). The test consists of two parts. The first part is open-ended, where there are various accepted answers. The second part is closed and there is only one correct answer. This type of test beneficial does not completely limit the thinking of an individual. A mathematics creativity test should provide both convergent and divergent thinking. It should not completely limit one to a wrong or right answer. There should also be factors that promote the formation of creativity. An environment where all the factors favorable for habit formation are favorable, various other tasks should be integrated into the test not only the ability to provide the answer. Things such as an understanding of the problem and articulation of the solution should be

Limited Liability in a Company Essay Example | Topics and Well Written Essays - 1250 words

Limited Liability in a Company - Essay Example The word limited indicates that the liability of members in respect of company’s debts and other liabilities is limited to amount contributed or undertaken by the member to contribute in respect of share capital of the company. Limited liability protects shareholders against any financial loss exceeding the investment4. It has been termed as the greatest single discovery of modern times, even more than steam and electricity.5 As per Ross Grantham and Charles Rickett6, there are certain economic justifications for such restriction of liabilities of a member of a limited body corporate. The limited liability reduces the shareholders’ responsibility to monitor corporate managers because the financial consequences of company failure on shareholders are limited. Corporate managers work efficiently for profit maximization because limited liability induces free share transferability that would force shareholders to withdraw funds from unprofitable ventures. Directors who run the company can take risky decisions as well as they aware that shareholders have nothing at stake.7 That is why Tony Orhnial8 states that limited liability ‘is not related to company structure but to the business’s economic risks, and is instrumental to the encouragement of entrepreneurial risk bearing and innovative attitude’. The principle of creating a limited liability company is that debts in case of failures cannot be carried back to founders9. Limited liability works as an extra non- taxable incentive for investments besides dividends and capital gains on transfers of shares that are taxable. Moreover, the attribute of ‘limited liability is quite significant when work locale, machinery, chemicals, or even artwork are potentially hazardous’10 Limited liability has helped to develop public share market.11 The primary objective of limited liability is to  encourage investment by the public in risk-taking enterprises by insulating the investing public from debts of the enterprise.