U.S. Homeland Security in the Context of Global Security Essay

U.S. Homeland Security in the Context of Global Security - Essay Example 15). As such, the perception regarding the security of the nation changed drastically, in the aftermath of the Islamic terrorist attacks of 11 September 2001 upon the US. Several thousand Arabs in the US literally disappeared after these attacks. Thereafter it became evident that people could be detained indefinitely. In a related development, people taking flights had to divest themselves of parts of their attire, during security related checking (Bellavita, 2008). During this process, babies and infirm people had also been subjected to such scrutiny. In addition, it has now become commonplace for border agents to persecute economic refugees. Information regarding customers is freely provided by companies to the governmental agencies. Moreover, the secret surveillance lists are replete with mistakes that will not or cannot be rectified. In addition, parents can be separated from their children, on the grounds of not possessing the necessary documents. At the same time, there has been an inexorable increase in the acceptance of racial profiling. The telephone calls, electronic mail, Internet activity and other communications of the people are routinely and clandestinely intercepted, by the governmental agencies (Bellavita, 2008). In order to have in place a globalized system of smart borders, airline passenger screening, and the tracking of financial data, it is necessary to implement harmonizing policies that integrate technologies and share information at the international level (Gates, 2012, p. 298). Moreover, the governmental rationality regarding homeland security has to be normalized at the global level. This is the impact that enhanced US Homeland Security has upon the global community. Consequently, it can be surmised that the enhanced homeland security of the US affects the global

Interdependence Australian Government

Interdependence Australian Government States usually form interdependent governments for so many reasons. For this case, Asian and Australian interdependence is to provide security to these countries and also in other areas say in the global markets. The military defense in the Asian country has had a wide impact to the Australian government. It is due to this interdependence that Australian government has been in a position to demonstrate peace in most of its activities. This is because of the strong relationship it has with the Asian military and its through Military Corporation that a country can be in a position to understand the other countries culture hence leading to solving of so many problems which are associated with crimes. The Asian regions past economic growth afforded opportunities for increased defense spending and also military modernization. Asia is the worlds sixth largest armed forces in that region. Its argued that many Asian governments embarked on military modernization programs during the early 90s .It is due to the strong military defense in Asia whereby the Australia government formed an interdependence with this government to ensure that it has helped this country to solve most of the upheaval associated with political and economic differences. (Bowles, 2001). Australia is one of the regions which are undergoing profound transformation or even changes and these changes are challenging the value and the relevance of its old ideas and structures. So due to this case, the government has an approach of emerging Asian -pacific security landscape. It is due to the break of the Soviet Union which provides a unique opportunity in order to build a new regional security architecture that is within the Asian pacific region. This new security architecture will inevitably take in to account the Asian culture which are said to be different from the Australian culture. So in this case, the interdependence will incorporate the principle of consensus and also less formalized defense arrangements. (Bowles, 2001). Given that the economic crisis has enlightened the importance of transparency and good governance, the Asian military defense reforms is especially pertinent. Its through this interdependence which has led to the promotion of professionalism, efficiency and also effectiveness which is offered by the Australian military defense. The Asian military defense offers an international military education and also training to the Austrian military defense. It is due to this corporation that the Australian military defense is in a position to overcome most of the economic crisis which occur in to that country. In fact, it has also been argued that the restrictions on the Asian and Australian engagement helped encourage the various use of unprofessional methods among the hard bitten factional within its military. It is due to this that the Australian military defense uses the professional military forces tactics to fight back crimes which might occur in that country and also in establishing of peace. It is in this corporation whereby the military defense helps to transfer technology to this country. As a result, it can use this technology to adverse it to its military defense hence making this country to be in a position to overcome any political or even economic upheavals. The military army also ensures that no transfer of destabilizing weapons to this country which might affect international peace. It is due to this fact that the military defense has taken the initiative to ensure that there in peace in this country. (Bowles, 2001). Another contribution is that the Australian military defense can get cheaper weapons from this country. It is one of the suppliers of weapons and hence it contributes to the Australian government through the sale of these weapons. It is these weapons whereby this government can also use for security purposes. (Arnet, 1997). The Australian military has also been in a position to adjust to the economic crisis and other crisis through resizing, reshaping and also timing of its peacetime military to military engagement activities. It has also ensured a security umbrella to this country and has also helped to stabilize the region and this has been achieved through watching the store while the various economic conditions are reformed. It is due to this military defense that the Australian government has been in a position to control the various crimes which occur in that country and also in stabilizing the economy. (Arnet, 1997). During the times of upheavals which might be political, economical, social and also religious, the Asian military defense is seen to demonstrate its support to ensure that all these upheavals have been calmed. It demonstrates political military and economic support incase these upheavals happen. Hence this is seen as a good contribution to the economy of Australia since it performs it economic activities with no crisis. (Arnet, 1997). The sustained region growth is one of the things which is contributing to the Asian stability and hence the need for the Australia to form an interdependence with the Asians. One of the duties of the Australian government is to provide security and defense to its people. Its the role of the government to ensure that the military defense is in a position to respond in to a gangue of contingencies as well as robust capacity in order to deal with any military threats which might occur in to that country. Anticipating and meeting the various challenges to the Australian security has remained a demanding task to this country. It is due to the contributions by the Asian military defense which makes this country to ensure that there are no military threats to that country. It is due to the contribution of the Asian military defense that Australia is in a position to overcome any threats in to their country. It is quite clear that any threat or even invasion attempted in to that country, the Australian army would of course be compelled to resist it even if it would lead to great loss of peoples life and also the economic deprivation. (Binnendijk, 1996). The Australian defense also ensures that it has also protected the interests of their markets. It is due to the contribution by the Asian military defense that Australian military defense is in a position to ensure that market interests have been protected and no threats to this markets which might in turn affect the economic growth of this country. It is the role of the military defense to ensure that no smuggled goods are brought in to the country and that it ensures that its borders have been protected and hence no illegal importation or even transportation of goods takes place. As a result, you find that the markets interest have been met hence leading to economic growth of this country. (Binnendijk, 1996). The interdependence in this case is said to maintain a political influence in the region. This is because the Australian government sees that Asian military to be quite central to may political change in that region. So in this case, the military defense has an influence to the Australian government. This is because it helps that government to have a political stability. Political stability in the sense that it is in a position to overcome wars which might lead to a threat in that country. It uses the Asian army to help fight back any political instabilities which might lead to problems in that country. (Binnendijk, 1996). The Australian ruling class are also said to benefit from the occupation of the oil treaty which it signed with the Asian government. The Timor gap oil is one of the best deep water tunnels and is seen to have a strategic significance to the Australian navy. Having the access to this channel has been of significant impact to the Australian government since it has lead to the economic growth of this country. You find that the Australian navy has access to this channel and hence benefits a lot from it. (Johnson, 1996). It is due to this interdependence that these countries have been in a position to realize globalization. Globalization can be defined as the movement of goods and services from one country to another. The expanding web of interdependence between these two countries has lead to resolving of issues which are related with globalization. The military in this case helps to build a trust to overlay the conflict dampening effect of interdependence. The relationship between military and political relations among these countries continues to shift hence leading to greater security measures in these countries and in return great developments. It is globalization which has brought so many people and countries to trade together hence exposing these countries in to diversified threats which range from environmental threats to even terrorists threats. It is due to this interdependence that the military defense is in a position to overcome all these threats whenever they occur. Many countries have also found that they can not overcome the threats which are associated with globalization and hence need to form a coalition with other countries to ensure that the military defense in that country is in a position to overcome these threats. A good example is in the Australian and Asia interdependence whereby it contributes so much to the security of these countries. Incase of any security threats, the military defense for the two countries is in a position to overcome these threats effectively. (Johnson, 1996). The military corporation helps in shaping peace in these countries. It is due to military corporations that the military defense is in a position to fight crimes whenever they happen. For example the military corporation in the Asian and Australia has led to stability in that country. This is because the two military forces are joined together when fighting certain crimes say terrorists. Terrorists are good examples of criminal threats in so many countries. A good example is seen in the September 11, at the United States whereby it was bombed by terrorists. It is due to this problem that military forces form a coalition to ensure that all these problems do not occur in this case. So the Asian military defense has been seen as one of the major contributing factors to this country in ending the terrorists. The country has been in a position to live in peace since there are no any more threats which are associated with terrorists. (Johnson, 1996). The military role in defense is also seen to contribute to useful platforms for example is defense dialogues and interaction. The Asian military defense has been of paramount importance to the Austrian government due to this coalition. It has helped to serve as an additional channel for these countries to resolve their differences and also to clarify their misunderstanding. So in this case, the Asian military defense has helped the Australia to solve most of its problems since it has solved most of its differences with this military defense. The government is in a position to resolve disputes arising in that region help prevent miscalculations and also has entrenched a culture of peaceful resolutions of several problems brought as a result of differences which occur between countries. Another contribution by the Asian military defense to this country is transparency issue. This has led to transparency in the military defense of this country and hence can do its activities properly just like any other military defense. (Ross, 1999). In the general market, this interdependence has also led to security in these markets. You find that the Asian military defense can provide security in these markets. So the two countries can then trade effectively since there is protection and due to this coalition, you find that the Australian people can even export its products to the Asian country without any problem since there is a tight security by the military defense. As a result, you find that the economy of this country has grown since there is a ready market for its exports. Issues of trafficking and also the sale of smuggled goods have evaded since the military force ensures that the goods which are exported are not smuggled. The military defense also helps in peace keeping in this country. It ensures that there are no political or even economic conflicts which occur in to this country. It is due to this initiative that the Austrian people are in a position to live in peace without any fear. (Ross, 1999). Conclusion Asian-Australian interdependence has had so many impacts to their economies. It has both political and economic impacts. Australia participation in the illegal activities of the Bush administration led to its implication in some of the worst war crimes and this is since the World war 11 including the torture and also the slaughter of thousands of civilians in the indiscriminate bombing of Afghan and Iraqi town cities. It is by the contribution of the military defense in the Asian country which led to peace keeping during this scenario. For example the military defense in the Asian country has many impacts to the Austrian country. This is because it is this military defense which helps to ensure that there is peace and harmony and this country. In times of political upheavals, the military defense also helps to ensure that all these problems have been solved. Reference Bowles, N. (2001): The diplomacy of hope. The united nations since the cold war. World Federation of United Nations Association. Arnet, E. (1997): Military capacity and the risk of war. Oxford University Press. Binnendijk, H. (1996): U.S. strategic objectives in East Asia. Strategic Forum 68. Institute of national strategic studies. Johnson, D. (1996): Modernization of the PLA navy and East Asian Regional Security Issues. Journal of Public and International affairs. Ross, R. (1999): The geography of peace. East Asian in the twenty-first Century. International security.

The Role of Trees in Terry Kays To Dance With The White Dog :: Dance With The White Dog Essays

The Role of Trees in Terry Kay's To Dance With The White Dog In the novel To Dance With The White Dog there are many similarities between Sam Peek and Kay’s father. The Dedication and Authors Note, located before and after the[b1] novel, give the reader insight into the true meaning of the book. In the Authors Note Kay speaks of his father and the fruit trees that he cared for; from this a correlation arises with Sam Peek and his beloved pecan trees. Terry Kay’s father cultivates fruit trees. Fruit trees generally live for approximately ten years then die off. It takes fruit trees three to five years before they will bear fruit. Overall fruit trees require a short term commitment. Although Kay’s father became famous for his well grown trees, it did not require the dedication and time that Sam Peek had to exert for his pecan trees.[b2] In the novel Sam Peek has dedicated his life to the growth and production of his pecan trees. Pecan trees take at least five years to yield fruit and can live up to seventy-five years. They take much more time and effort to yield profit. Cultivating pecan trees is a life long project. In the novel Sam Peek dedicates his life to the care of his pecan trees. In his old age, when he is retired from the tree business, he still has the commitment to go to the pecan orchard and pull weeds. This shows Sam Peeks strong bonds to his life and family[b3]. He is very much tied do wn to the land around his family home. His dedication to his trees is because he wishes to provide a good life for his family. He pours a lot of effort into this wish. While reading this novel the reader interprets the meaning of the author based on the knowledge that the book is fictional; however, when the reader finds out that there is some truth to the story at the end of the book they must reevaluate their interpretations.[b4][b4] Kay reveals in the Authors Note at the end of the book that the character of Sam Peek is based on his father.

“My Last Duchess” by Robert Browning Essay

Robert Browning sets the tone of â€Å"My Last Duchess,† by using three significant poetic techniques, one of which is imagery. Browning uses the Duke’s monologue to sketch out images in the reader’s mind of the Duchess herself, and the sinister personality of the Duke. Browning also uses another key device, which is diction to illustrate the darkness in this poem. Browning’s careful word choice adds to the description of the Duchess and perhaps her disgraceful behavior, as well as the Duke’s terrifying jealousy, and expectations. Finally, Browning also uses symbolism, which is instrumental in showing the Duke’s jealousy, which possibly could have led to the Duchess’ demise. Robert Browning is able to achieve a haunting, mysterious, and eerie tone in â€Å"My Last Duchess,† by using imagery, precise diction, and symbolism. The imagery in â€Å"My Last Duchess,† conveys a clear picture in the reader’s mind of not only of the Duchess, and her portrait, but also the darkness of the Duke’s life. The Duke begins his soliloquy by saying, â€Å"That’s my last duchess painted on the wall, / Looking as if she were alive,† (1-2) already the reader is hit with the image of the late Duchess’ portrait. A mysterious tone lurks as the Duke speaks because the reader now wonders how the Duchess died. As the Duke continues with his speech, he vividly paints a picture of the Duchess. The Duke recounts how the painter, Fra Pandolf compliments her beautiful skin by saying, â€Å"Paint / Must never hope to reproduce the faint /Half-flush that dies along her throat† (17-19). As the Duchess blushes at Pandolf’s kindness, the Duke’s jealousy is building up. As the Duke and his guest make their way downstairs to meet the rest of the company, the Duke says, â€Å"Notice Neptune, though / Taming a sea-horse, thought a rarity† (54-55). The image of Neptune as he tames the sea horse is a perfect example of the Dukes temperamental, and controlling personality. This image reflects his domineering disposition, which adds to the haunting, eerie tone. An eerie and mysterious tone is further enhanced by Browning’s use of diction. Browning’s particular word choice in this dramatic monologue steers the reader to believe that over time the Duchess’ flirtatious nature becomes more difficult for the Duke to handle. As he says to the emissary, â€Å"Sir, ’twas not / Her husband’s presence only, call that spot / Of joy into the  Duchess’ cheek,† (12-14) the Duke begins to explain how she is charmed by anyone, and â€Å"too easily impressed† (24). In addition to being overly impressed by gifts from â€Å"officious fools,† (27) the Duke is especially upset as he says, â€Å"she ranked / My gift of a nine-hundred-years-old name / With anybody’s gift.† By marrying the Duchess the Duke gave her the gift of nobility, and she now holds a higher social rank. He feels that that gift alone should maintain her happiness, and commitment to him. The Duke’s anger, and jealously have now escalated, and the reader begins to question what his madness will carry him to do. Another meticulous selection of words Browning uses is, † Oh, sir, she smiled, no doubt, / Whene’er I passed her; but who passed without / Much the same smile? This grew; I gave commands; / Then all smiles stopped together.† (43-46) The poem has now turned very mysterious, how was the Duchess executed, and who other than the Duke is responsible? Browning is able to make the Duke’s controlling nature apparent through the use of symbolism. The Duke’s need to be dominate and in control at all times is frightening. The portrait of the late Duchess is a symbol to show the Duke’s dominance. The Duchess had slightly rebelled against the Duke, and he questions her fidelity when he says, â€Å"She thanked men, good! But thanked / Somehow I know not how† (31-32). The Duke was distraught that he was unable to control her innocent blushes, or friendly smiles at others. It finally came time for the Duke to take matters into is own hands, he then, â€Å"gave commands,† (45) and â€Å"then all smiles stopped together† (46). The art is a symbol that he is now able to control her every glance and every smile. Not only does he now have complete control over her, his guests are only allowed to see her when he draws a curtain and permits them to. It is exceptionally haunting that the Duke is so obsessed with having the power to control someone. The imagery brought to the reader’s mind as the Duke is entertaining the emissary is chilling. Browning’s comparison between the Duke and Neptune increase the mysterious effect. As the Duke explains that he refuses to allow his next wife to behave the way the late Duchess did, mystery sets in as it makes the reader question if he is capable of committing this crime  again, and how the Duchess was brought to her demise. Browning’s word choice also enhances the mystery and eeriness of the poem. By using diction, the Duke’s controlling personality was described. Finally, Browning uses the Duchess’ portrait as a symbol In conclusion, Robert Browning achieved a haunting, mysterious, and eerie tone through the use of three poetic techniques.

Proving Establish Liability For Each Offence Essay

Archie is employed to protect the pheasants on Lord Melchett’s estate from poachers. On day, from a distance he sees Liam and Craig on the estate and, knowing them to be poachers, he decides to ‘rid himself of the problem for all time’ and fires his shotgun at them. Both Liam and Craig are only wounded, however, but do need to be taken to hospital for treatment. On the way to the hospital, the brakes on the ambulance fail, it leaves the road and overturns on a bend and Liam dies in the accident. With reference to the case situation above, discuss, using decided cases to support you arguments: a) The offences, if any, with which Archie could be charged and what the prosecution would need to prove to establish liability for each offence; (20) b) And whether you think Archie would be convicted of any offence. (5) a. In relation to the death of Liam, there is the possibility that Archie would be charged under homicide. Archie carried out the apt actus reus of homicide, whereby he has committed an unlawful killing in the Queen’s peace in the county of the realm and death occurs within 1 year and 1 day. Although Liam died only in the accident, the main cause for his death was Archie shooting at him. As such, Archie has provided for the cause in fact, according to the ‘but-for’ test, where if but-for Archie, Liam would not have died. Contrary to R v. White, where the defendant’s mother died not from his poisoned drink but from a heart attack, Archie caused Liam’s death. Furthermore, Archie also undertakes the cause in law, as Liam’s wound is both substantive and operative. This is because it was Archie’s action that caused the injury (substantive) and this injury was still present at the time of Liam’s death (operative), as in R v. Malcherek & Steel, where it was held that original injuries were still an operative cause of victim’s death. However, it may be argued that a Novus Actus Intervenis, an intervening event, caused Liam’s death and that Archie is not the main cause. This is only partially true, as the ambulance’s break failure was the last event of the chain of causation and causing Liam’s death. Yet, Archie can still be held liable if it can be established that there was a break in the chain of causation, however, there is none. Thus, the ambulance accident was merely a negligent contribution, as in R v. Benge, and Archie’s act is the cause of Liam’s death. According to the mens rea of murder, proof of intention to kill or cause grievous bodily harm must be shown, as established in R v. Moloney, holding that intention may be inferred from the defendant’s foresight of consequences. Here, the charge will depend on Archie’s intention, which might be deduced from the words that he muttered: ‘rid himself of the problem for all time’. As such, Archie knew the consequences of his actions, and had an intention to carry it out. Yet if this is the case, it must also be considered why Archie didn’t actually carry out his apparent intention, to ‘rid himself of the problem for all time’, as he did not actually ‘get rid of’ (ie. kill) them. However, if this is not the case, it can be said that Archie’s intention can be found if he foresaw death or GBH as a virtually certain consequence, as in R v. Woollin. It is also not known where and the number of times Archie shot at Liam and Craig, as this would confer an indication of any considerable intention. If Archie’s shooting was limited, perhaps one or two in the leg, then it can be said he had no intention to kill, but just an intention to frighten. If he only had an intention to frighten, then his act is already an unlawful act in itself, as it is dangerous and is foreseeable to cause harm. This is true with Archie, and he also had the intention to commit the unlawful act, as in R v. Lamb, where the defendant did not have the mens rea to kill, but only to shoot the gun. Archie’s act was also dangerous, likewise in R v. Church where it was held that ‘dangerous’ would mean a reasonable man realizing the risk of creating some harm. In DPP v. Newbury & Jones, it is said that if the accused â€Å"intentionally commits a dangerous and unlawful act, causing harm or incidentally, the death, of another†, he is then guilty of constructive murder. Therefore, in relation to Liam’s death, Archie can be liable for constructive manslaughter. In relation to the injuries sustained by Craig, there is the possibility that Archie will be charged under Section 20 of the Offences Against Persons Act 1861. The actus reus required here is merely wounding, as defined in JJC v. Eisenhower as â€Å"breaking of the skin†(skin here meaning any surface of the human body) or inflicting grievous bodily harm. The mens rea necessary includes a malicious intention and a foresight of physical harm. This foresight must involve the possibility of some physical harm to a person, as in R v. Mowatt. Archie, thus fulfills both the actus reus and mens rea for S20 of the OAPA. However, Archie may also be charged under Section 47 and Section 42. Under S47, Craig has to be seen to have sustained â€Å"actual bodily harm†, defined in R v. Miller as â€Å"any harm calculated to interfere with person’s health and comfort.† Under S42, Archie has to be seen to â€Å"put another person in fear of immediate personal violence† and has â€Å"touched another without their consent.† If this can be established, Archie would be liable for Section 20 (Offence involving wounding/GBH), Section 47 (Common assault, battery & GBH) and Section 42 (Assault & battery) of the Offences Against Persons Act 1861. b. In the case of Liam’s death, Archie would be charged for murder. However, this is rather difficult to prove, as the mens rea required for murder involves proof of intention to kill or cause grievous bodily harm as established in R v. Moloney. Thus, he would not be convicted of murder, but rather involuntary manslaughter, with constructive liability. As for Craig’s injuries, Archie would be charged under Section 20 of the OAPA. Further charges might include Sections 47 and 42. The conviction under Section 20 is undeniable, but for Section 47 and 42, it is only highly plausible.

Pavlov therory essays

Pavlov therory essays A commonly heard word within psychology is conditioning, where does it come from and what does it mean? Conditioning is simply a form of learning, specifically learning through association. Conditioning is used in many experiments as I will discuss later. Classical conditioning was stumbled upon by accident by Russian physiologist Ivan Pavlov. After he earned his medical degree in 1882 he spent many years studying the digestive system of many animals. By the year 1904 Pavlov had won the Nobel Prize for all of his research in that field. While studying the digestive system he had a dog strapped down with a harness, and fed it different types of food. While doing this he had a tube that was surgically put into their cheeks to measure the amount of saliva the dog had released. After repeating this process a couple of times he ran into what he called a problem, the dog would salivate at just the site of the food, and eventually the dish the food came in and even the sound of footsteps walking towards him. Pavlov, trying to get around this problem tried to sneak up on the dog, but to no avail. Later Pavlov realized he stumbled upon a form of learning now known as classical conditioning, and devoted the rest of his life to studying it. To study his new, so called problem he had to have a system set up in which he would feed the dog. Often he used a dry meat powder, this powder would automatically cause the dog to salivate. The automatic response to food is known as the unconditioned response, it is known as this because the response does not have to be taught, hence the term unconditioned. The food in this example is known as the unconditioned stimulus, what stimulated the salivation was the food. After Pavlov took notice of all of this he wanted to see if the dog can be conditioned (trained) to respond to an unnatural stimulus, unnatural, being one that would not have an automatic reaction to the stimulus. To exa...

A Seperate Piece Essays - Phillips Exeter Academy, A Separate Peace

A Seperate Piece Essays - Phillips Exeter Academy, A Separate Peace A Seperate Piece A Separate Peace - Gene's Journey Gene Forrester's difficult journey towards maturity and the adult world is a main focus of the novel, A Separate Peace, by John Knowles. Gene's journey begins the moment he pushes Phineas from the tree and the process continues until he visits the tree fifteen years later. Throughout this time, Gene must become self-aware, face reality and the future, confront his problems, as well as forgive and accept the person that he is. With the jouncing of the limb, Gene realizes his problems and the true person he is inside. Fifteen years later, when revisiting the tree, he finally accepts and forgives himself. This journey is a long and painful one. At the end of this long and winding road filled with ditches, difficulties and problems, Gene emerges a mature adult. Gene jounces the limb and causes Finny's fall and at that moment becomes aware of his inner-self and learns of his true feelings. This revelation comes to him back in his room before he and Finny leave for the tree. It surrounds him with the shock of his true self until he finally reacts by jouncing the limb. Up in the tree, before the two friends are about to make their double-jump, Gene sees Finny in this new light. He realizes that Finny feels no jealousy or hatred towards him and that Finny is indeed perfect in every way. Gene becomes aware that only he is the jealous one. He learns of his animosity and that he really is a savage underneath. Over a long period of time Gene had been denying his feelings of hatred towards Finny, saying that it was normal for him to feel this way. Now all of the feelings come back to him and he sees how terrible he really is. The realization that these feelings are one-sided causes Gene to to fall dramatically in comparison to Finny (he paints himself black for these feelings and because Finny doesn't share them, he puts a halo around Finny's head), concludes with the neccessity for Finny to be brought down to his level, and results with Gene jouncing the limb. After the realization of the person he truly is, in his room and up in the tree, Gene must now confront his problems, face reality, and deal with the future. He must learn that communication is very important in a relationship and that he must express himself instead of keeping his feelings inside, as he had always done with Finny. He must learn to listen to himself rather than to others. These were just a few of the many problems there were in his relationship with Finny. He must face reality and acknowledge the fact that he isn't as great as Finny, that he is his own individual person and that Finny isn't as perfect as he thought. Gene must accept the guilt for Finny's difficulties after his injury and must help Finny as a punishment and act of repentence for his deed. Gene does this by giving a part of himself to Finny as we see with the case of sports throughout the rest of the novel - how Gene becomes Finny when it comes to sports. Although the above are all of great importance, the greatest hurdle Gene must overcome is learning to live with what he's done. This painful step is the one which will allow him to completely mature. The final stage of Gene's maturation is his self-acceptence and self-forgivness. He has to accept that he isn't perfect and that he, like any other normal being (even Finny), has faults. Accepting that his innocence has been lost helps Gene move on into another part of his life and realize that he can never return to the days of his innocent youth again. He can now become a man, enter the war and adult world and leave his youth behind. Forgiving himself is the step which allows Gene to lead a normal life and enter society. He must finally forgive himself completely for his blind act and allow himself to come in out of the rain. By accepting as well as forgiving the person that he is, Gene enables himself to move on

15 Idioms for Periods of Time

15 Idioms for Periods of Time 15 Idioms for Periods of Time 15 Idioms for Periods of Time By Mark Nichol A body of idiomatic words and expressions vividly denote brief periods of time or otherwise refer to various durations. Here’s a sampling of such terms. 1. After hours: In the evening or at night, or late in the day (referring to standard daytime hours that most businesses are open) 2. Banker’s hours: A relatively short duration (from the onetime tradition that banks were open for a limited number of hours compared to other businesses; therefore, one who keeps banker’s hours has a light work schedule) 3. Bat/wink/twinkling of an eye: variations of an idiom referring to a period of time so brief that it passes while one’s eyelid moves 4. Eleventh hour: occurring late in a given time frame (from the fact that the eleventh hour is the last in the day before midnight) 5. Flash: an instant (from the fact that a flash of flame is short lived) 6. Heartbeat: an instant (from the duration between one heartbeat and the next); usually seen in the expression â€Å"in a heartbeat†; by contrast, a phrase beginning â€Å"a heartbeat away from† refers to someone being in line for promotion if the heart of that person’s immediate superior stops beating that is, if the other person dies 7. Jiffy: an instant (perhaps from slang for lightning); also shortened to jiff 8. New York minute: a brief time (from the notion that minutes in the hectic milieu of New York City pass more quickly than those in more relaxed locales) 9. On the hour: at the beginning of every hour 19. Shake: a very short period; usually employed in the phrase â€Å"two shakes† (a truncation of the idiom â€Å"two shakes of a lamb’s tail,† alluding to the typically rapid motion of the young animal’s tail) 11. Small hours: the early morning (from the low numbers on the clock that indicate the time during that period) 12. Split second: a fraction of a second (from the notion that a second can be split, or subdivided); a split is also a fraction of the total elapsed time for a race 13. Tick: a moment (from the ticking of a clock); a tick is literally a mark used for measure, as on a clock 14. Trice: a short period of time (from a word meaning â€Å"pull†); often seen in the phrase â€Å"in a trice† 15. Witching hour: midnight or the middle of the night (with the connotation that unsettling or unusual things happen then, from the superstition that witches are about at that time) Note: The DWT Freelance Writing Course will be re-opening next Tuesday, November 6. Make sure to mark it on your calendar if you are planning to join us. The course costs $97 (single payment), and it runs for six weeks. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:When to Use â€Å"That,† â€Å"Which,† and â€Å"Who†Comma Before ButEnglish Grammar 101: Sentences, Clauses and Phrases

Geologic Hazards Project Research Paper Example | Topics and Well Written Essays - 2000 words

Geologic Hazards Project - Research Paper Example The gradual shifting of the pole is believed to have been the reason for destruction of entire human civilizations. As this reversal takes place, the earthquakes augment and earthquake storms take place in the world. Furthermore, three new volcanoes are born at many places in the Pacific Ocean. NASA has recently found out that there is a break in the magnetic field of the Earth. These changes keep on building and concurrent. (Syzygyastro) The constant changes that go inside the surface of the Earth cause this reversal. The core of the Earth moves around a little faster than the crust of the Earth which is slowed by tidal dragging of the moon. The disparity in the rotation between the two layers produces the magnetic field. When the core rotates, the lines of magnetic field act as what takes place on the Sun’s surface as equator and sun have different rotations from the pole. The disparity of rotation of both of these surfaces creates a stretch in the lines of magnetic field so they wrap round and round the Earth or the sun. What happens is that magnetic field lines the field and recreates itself. The discrepancy of the rotation of Sun happens at a faster rate than the Earth so the magnetic cycle on average takes around 22 years in the Sun. The Earth takes a very long time for its periodic cycle due to the interaction of the sun, planets, and the moon and slower winding. These reversals of the field can take mi llions of years to take place. At present, Earth’s field lines are constantly breaking down, making a complicated pattern of hundreds of magnetic zones similar to the ones on the Sun. This violation in the earth/s magnetic allows the solar winds to go to the atmosphere of Earth. The consequence of these modifications will be auroras all across the Earth even at the equator. The second alteration is the diffusion to the

Students are expected to write a case study with a final report of Essay

Students are expected to write a case study with a final report of 3000 words on the modus operandi and the present impact, at n - Essay Example This paper is being undertaken in order to seek a detailed discussion of the yakuza crime organization, helping this student understand the activities of the group and establishing specific details which would distinguish it from other organized crime groups. The yakuza organization became the organization it has become today at around the late 1800s under the leadership of Toyama Mitsuru (Butler and Kaplan, p. 40). Mitsuru founded the Genyosha Society and his main aid, Uchida formulated the Amur River Society. These groups dominated in activities like prostitution, gambling, entertainment, liquor, and other activities like dockside labour (Chemko). They also engaged in the 1960s and 1970s in drugs and arms trade. This group has also been highly connected with other organized crime groups, including the Sicilian Mafia, American Mafia, Colombian drug cartels, and the Chinese triads (Chemko). This group has long been recognized in Japan as a normal part of their history and activities, especially with its associations with politicians and rich businessmen. They have also become engaged in the international arena, not necessarily in areas with Japan nationals (Chemko). The current organization was organized in the mid-1600s and was identified to have engaged in gambling and street vending during its inception (Chemko). Protection for other members no matter the circumstance was one of the main qualities of this group. The members were expected to do everything necessary in order to protect their fellow members. When industrialization was introduced in the country, the group followed the trend and set-up businesses in industrialized activities, including dockside labour and construction (Bruno). Interest in policies also followed, and with it, strong associations with politicians were soon forged. Associations between the police/law enforcement officers and the yakuza were also established (Bruno). During the Second World War, the yakuza posed the most significant threat to the American troops. Food rations were given to soldiers and this caused the proliferation of the black marker, including higher resources for the yakuza and other criminal organizations (Fulford, p. 66). Street vendors, known as the gurentai gained strength, often carrying out bank robberies at the black markets. Soon enough, the American and other foreign troops played a strong role in the yakuza’s habit of wearing black suits, white shirts and black sunglasses (Chemko). They also relinquished their customary swords for firearms and became even more violent. There were about 5000 gangs during these times and with the influence of Yoshio Kodama, they were soon united and included in the major crime group known as the yakuza (Gangland). This group has traditionally considered itself a helper – a Robin Hood of sorts. Before the courts were in existence in Japan, individuals usually went to the yakuza to seek the settlement of their disputes (Gangland). However , the process of resolution often included harsh actions which were not seen when recourse from legal authorities was carried out. There are two kinds of yakuza. The first are the free yakuza which were considered outcasts of society and were not linked with other organizations (Chemko). They also did not carry out serious acts, but were considered common thugs. They were also not offered any protection and were often unable to

The Abel Corporation Essay Example | Topics and Well Written Essays - 750 words

The Abel Corporation - Essay Example Our strong brand name and state of the art development capabilities are committed to providing our customers with the greatest value in power tool performance that is available. Our customers have come depend on our power tools to be there when it counts. They have come to know Able Corporation as the leading innovator in the power tool business. Whether it's home repair or an industrial application, if there's a job to be done, you will find Able doing it. Management Strategy I. Corporate A. One Year 1. Concentrate marketing efforts on most profitable lines a. Expand cordless lines 2. Generate greater communication between departments 3. Seek investors for plant upgrades 4. Concentrate on innovation a. Primarily battery design and hybrid B. Five Year 1. Develop brand recognition 2. Expand retail distribution a. Wal-Mart, Home Depot, Lowes 3. Seek new technology a. Batteries and Hybrid design 4. Complete the renovation and overhaul of manufacturing facilities C. Ten Year 1. Reach global markets 2. Become the recognized leader in power tool innovation 3. Reinvest in expansion II. Operational and Business A. One Year 1. Generate greater control over metrics 2. Set departmental goals 3. Research establishing Strategic Business Units B. Five Year 1. Have all departments working with the same data 2. Reduce costs by improving efficiency 3. Have scheduling systems in place for high volume production 4, Establish SBUs to meet expansion C. Ten Year 1. Integrate global operations 2. Develop employee expertise to approach new markets III. Functional A. One Year 1. Initiate market research a. Find out who is buying our products b. Target their needs 2. Develop a plant renovation/replacement plan 3. Upgrade IT system to facilitate consistent data between departments 4. Legal department strategy for protecting new designs 5. Human Resources develop a plan to stabilize the workforce B. Five Year 1. Target our market a. Enhance branding b. Improve distribution c. Research international potential 2. Concentrate on new product development a. Improved tool design and functionality b. Battery hybrid design 3. Arrange financing for expansion 4. Legal staff to gain international expertise C. Ten Year 1. International marketing campaign 2. Human Resources provides a diverse global workforce a. International sales force Bibliography Clarke, S. (2001). Information systems strategic management : An integrated approach. London UK: Routledge. Lasserre, P. (2002). Global strategic management. Gordonsville, VA: Palgrave Macmillan. Lawrie, G. (Ed.). (2004). Strategic performance management. Bradford, UK: Emerald Group Publishing Limited. Scalet, S. (2005, July). Five steps to an effective strategic plan. CSO . Retrieved February 4, 2007, from

Press release Coursework Example | Topics and Well Written Essays - 250 words

Press release - Coursework Example al. 2014). An important notion is that early symptoms of ebola virus disease can be easily confused with other febrile diseases, so evaluation and assessment of the patients should be meticulous and systematical. Isolation should be attempted instantly in case of successful ebola confirmation, the patients should be put on PPE, hospital infection department should be notified about the case at once. Minimization of transmission risk should be achieved via strict controls over the specification of the healthcare workers, who are responsible for care and safe utilization of PPE (Prevention 2015). The appropriate set of PPE equipment is based on the clinical status of the patient, as well as further environmental control, such as designated areas for one’s resuscitation. A minimum combination of wear includes impermeable gown, face shield, surgical face mask and two pairs of gloves (Benowitz, I., Ackelsberg, et.al 2014). As much as the existing protocols, presented one is supported with the practical output of the up-to-date experience of American hospitals, helping patients with ebola. Following all the CDC guidelines from memo and relevant materials, healthcare professionals would be certain about the management of patients, presenting with virus of ebola. Benowitz, I., Ackelsberg, J., Balter, S. E., Baumgartner, J. C., Dentinger, C., Fine, A. D., & ... Layton, M. C. (2014). Surveillance and Preparedness for Ebola Virus Disease -- New York City, 2014.MMWR: Morbidity & Mortality Weekly Report,  63(41), 934-936. Prevention, C. (2015). Identify, Isolate, Inform: Emergency Department Evaluation and Management for Patients Under Investigation (PUIs) for Ebola Virus Disease (EVD)| Ebola Hemorrhagic Fever | CDC. Cdc.gov. Retrieved 4 April 2015, from

Development of Behavioural Finance Essay Example | Topics and Well Written Essays - 1250 words

Development of Behavioural Finance - Essay Example This was followed by Selden’s ground breaking work on the stock exchange where he attempted to explain people’s financial behaviour in the stock exchanges (Selden, 1912). Further work on behavourial finance continued through the efforts of psychologists such as Leon Festinger who introduced the concept of cognitive dissonance (Festinger et al., 1956). The more modern trends in behavourial finance were placed by Tversky and Kahneman who introduced the availability heuristic that delineated the financial probability of decision making by a person (Tversky & Kahneman, 1973). This idea was followed by another expected utility theory that critiqued the original theory. This new theory delineated a descriptive model of decision making when faced with risks. The emerging model was espoused as the prospect theory (Kahneman & Tverksy, 1979). The prospect theory presented by Kahneman and Tversky has also been suggested as the alternative financial explanation for people making le ss than expected decisions in a risky market situation. The sixties saw the application of cognitive psychology to the processing of information by the brain. This stood in contrast to behavioural models. The newly emerging cognitive models were being compared to each other such as those presented by Ward Edwards, Daniel Kahneman and Amos Tversky. This was augmented by the development of mathematical psychology that began to link up transivity of individual preferences to different kinds of measurement scales (Luce, 2000). These developments were augmented with the introduction of newer concepts such as overconfidence that forces individuals to make irrational choices which lead to poor financial decision making (Kahneman & Diener, 2003). The bounded rationality projections in behavioural finance project that individuals act to maximise satisfaction rather than utility through their financial decision making even though it may lead to a loss (Gigerenzer & Selten, 2002) (Tsang, 2008) . Over the years, various kinds of psychological traits like projection bias, overconfidence, limited attention and the like have been used in behavioural finance models. The domain of inter-temporal choice has also had various applications of behavioural finance which tend to use various kinds of psychological factors to explain basic models of rational choice. Active Portfolio Management versus Passive Portfolio Management Fund managers carry out active portfolio management so that the portfolio investments tend to outperform a particular investment benchmark index. In contrast, fund managers who are not looking to outperform any investment benchmark index try to invest in funds that replicate previous weightings and returns. This technique is labelled as passive portfolio management (Malkiel, 1996). Passive portfolio management is the most preferred investment technique on the equity market but it is gaining wider acceptance in other investment fields. The contention behind passi ve management is to reduce transactional costs as well as investment risks so that the investor’s output increases. In the modern economy it is common for funds to be managed with the original fund owners relying on fund managers to take investment decisions. According to Cuoco and Kaniel (2009), in 2004 the total amount of managed mutual funds exceeded $8 trillion, hedge funds totalled $1 billion and pension funds totalled more than $12 billion in the United States alone. It has also been

Managing for future Assignment Example | Topics and Well Written Essays - 3250 words

Managing for future - Assignment Example Part I: Analysing the environment Corporate social responsibility Tata steel is one of the firms which were the first to have a fully fledged corporate social responsibility program, not only in India but also around the world. This began with its founder in the early 20th century, who in his own words said that â€Å"In a free enterprise, the community is not just another stakeholder in business but is in fact the very purpose of its existence" (Srivastava, 2012, p. 20). In the current time, Tata Steel Ltd. has a well grounded corporate social responsibility program which includes community development, environmental sustainability, employee relationships etc. This has made Tata to be recognized around the world due to its pioneering in this area (Mahesh, 2001). According to Mahajan (2003), Tata Steel Ltd. today spends between 5 and 7 % of its after tax profits to facilitate corporate social responsibility activities. This is a commendable amount of money to spend in corporate soci al responsibility programs. In this case study, commissioned and selected for studying the topic of CSR by The Energy and Resources Institute (TERI), it becomes very clear that Tata is one of the firms which have taken corporate social responsibility in a very serious way. ... to identify the impact on the community in which the project is being carried out. This helps in influencing the way Tata Steel Ltd. operates its project especially with regard to the impact on the community and the environment. An evaluation of Tata Steel Ltd’s corporate social responsibility programs indicates its dedication in terms of making sure that its operations don’t affect the community in a negative way. However, there are a number of issues which come up as one looks closer. The first issue is that although Tata Steel Ltd. has invested a lot in corporate social responsibility programs, these programs are mostly directed towards philanthropic programs to the communities. Offering scholarships, healthcare services and other community programs is just a very small part of the problem especially for a big firm like Tata Steel Ltd (Puneet, 2011). Tata steel has activities which are very destructive to the environment and it is necessary for the firm to be able to look beyond just having philanthropic programs. Although Tata Steel Ltd. states clearly in its CSR policies that its CSR goes beyond just philanthropic projects, it does not seem so in practice (Wilson, 2012). It is possible that despite the many corporate social responsibility programs that Tata steel has, the long term effects of its operations will exceed the benefits achieved by the community through Tata’s corporate social responsibility programs. This indicates that there are issues which must be looked at in a very serious way in order to close this gap. Tata must look beyond just having good corporate social responsibility programs and look at the ways in which it can deliver a more practical and useful CSR programs. Environmental

Development of Behavioural Finance Essay Example | Topics and Well Written Essays - 1250 words

Development of Behavioural Finance - Essay Example This was followed by Selden’s ground breaking work on the stock exchange where he attempted to explain people’s financial behaviour in the stock exchanges (Selden, 1912). Further work on behavourial finance continued through the efforts of psychologists such as Leon Festinger who introduced the concept of cognitive dissonance (Festinger et al., 1956). The more modern trends in behavourial finance were placed by Tversky and Kahneman who introduced the availability heuristic that delineated the financial probability of decision making by a person (Tversky & Kahneman, 1973). This idea was followed by another expected utility theory that critiqued the original theory. This new theory delineated a descriptive model of decision making when faced with risks. The emerging model was espoused as the prospect theory (Kahneman & Tverksy, 1979). The prospect theory presented by Kahneman and Tversky has also been suggested as the alternative financial explanation for people making le ss than expected decisions in a risky market situation. The sixties saw the application of cognitive psychology to the processing of information by the brain. This stood in contrast to behavioural models. The newly emerging cognitive models were being compared to each other such as those presented by Ward Edwards, Daniel Kahneman and Amos Tversky. This was augmented by the development of mathematical psychology that began to link up transivity of individual preferences to different kinds of measurement scales (Luce, 2000). These developments were augmented with the introduction of newer concepts such as overconfidence that forces individuals to make irrational choices which lead to poor financial decision making (Kahneman & Diener, 2003). The bounded rationality projections in behavioural finance project that individuals act to maximise satisfaction rather than utility through their financial decision making even though it may lead to a loss (Gigerenzer & Selten, 2002) (Tsang, 2008) . Over the years, various kinds of psychological traits like projection bias, overconfidence, limited attention and the like have been used in behavioural finance models. The domain of inter-temporal choice has also had various applications of behavioural finance which tend to use various kinds of psychological factors to explain basic models of rational choice. Active Portfolio Management versus Passive Portfolio Management Fund managers carry out active portfolio management so that the portfolio investments tend to outperform a particular investment benchmark index. In contrast, fund managers who are not looking to outperform any investment benchmark index try to invest in funds that replicate previous weightings and returns. This technique is labelled as passive portfolio management (Malkiel, 1996). Passive portfolio management is the most preferred investment technique on the equity market but it is gaining wider acceptance in other investment fields. The contention behind passi ve management is to reduce transactional costs as well as investment risks so that the investor’s output increases. In the modern economy it is common for funds to be managed with the original fund owners relying on fund managers to take investment decisions. According to Cuoco and Kaniel (2009), in 2004 the total amount of managed mutual funds exceeded $8 trillion, hedge funds totalled $1 billion and pension funds totalled more than $12 billion in the United States alone. It has also been

English Mock Exam Term Paper Example | Topics and Well Written Essays - 2000 words

English Mock Exam - Term Paper Example Anyone can be arrested suddenly, and for no valid reason, at any time of the day or night. There can be no recourse to the law, or appeal for justice. The ‘knock on the door’ can happen at any time to anyone. In both the poems, all citizens are the helpless victims of state sponsored terrorism. The government is absolutely ruthless and does not tolerate any form of dissent. The background of both poems is an atmosphere of fear. Both First They Came and Not my Business share the common theme of the impossibility of isolating oneself from injustice. It can be said that the underlying message in both the poems is the brotherhood of man. Niemoller and Osundare emphasize that no man can live in isolation from his society. What affects one man will have its repercussions on all others. No one can live in a cocoon and remain untouched by the experiences of others. If injustice is left unchecked, it will inevitably engulf everyone. The poets are united in their call for every ma n to speak out against injustice. Both poems urge every individual to give voice to the demand for justice and protest against wrong: even if one is not personally affected. The writers call for everyone to overcome their fear and have the courage to stand up and be counted for their convictions. If we remain passive spectators to wrongdoing, we will definitely be the next victims. The themes of the poems can be said to be almost identical. Niemoller writes from his personal experience as a protestor against Nazi rule in Hitler’s Germany, and his active opposition to state control of the church. He has actually lived the lines of his poem, having been arrested and sent to the notorious concentration camps, where he has spent seven years. The line, â€Å"Then they came for me,† is based on his real life experience. It is a true account, which was written after the fall of Nazism and his release from the camps. His poem is biographical. However, although Osundare has not been subjected to such actual arrest and imprisonment, his empathy for his countrymen makes his poem as vivid and intimate as First They Came. Osundare’s poetry is so personal, that it remains as true-to-life and genuine as Niemoller’s. Both the poems reflect their own culture. Niemoller, as a Protestant clergyman in Nazi Germany, bases his list of the various kinds of people on religion: Communists, Jews, Catholics and Socialists. This is in accordance with the anti-religious sentiments which Hitler established as part of his Nazi ideology and also with Niemoller’s strong religious identity as a churchman. Niemoller focuses on religious belief in his poem and conveys the message that one should stand up for everyone’s right to practice their own faith. On the other hand, Osundare’s poem reflects the realities of Africa, where the scarcity of resources is a fact of everyday life. Hunger is a very real threat which hangs over every person. In accor dance with this fact, he focuses on food. Osundare asserts that one should speak out in defense of others, even at the cost of losing one’s daily food: represented in his poem by the humble yam. It is clear that Not my Business is based in a country where poverty is widespread. The names used by Osundare, and the mention of yam as a staple food, also speak of Africa. The writers use similar forms in their poems. First They Came and Not my Business both have short stanzas and are not lengthy. However, Osundare’s indentation of the repetitive lines forms a kind of chorus, while

Choosing Between Debt And Equity Finance Essay

Choosing Between Debt And Equity Finance Essay In financial decisions, the choice between debt and equity financing is one of the most difficult ones. Both types of financing have its advantages and disadvantages. Debt financing is based on borrowing finance, and incurs debts that should be repaid in a certain time. The obligations of the company include repaying the loan and paying interest on the loan until its repaid. Debt financing does not impact the ownership of the business, but might cause high debt servicing costs. On the other hand, equity financing represents the exchange of finance to a part of business ownership; this is commonly done by issuing stocks. Equity financing allows to receive investments without additional payments and does not cause financial concern of investors, like debt financing does. However, since the ownership is shared, the owners have to dilute their decisive power (Grossman Livingstone, 2009), and might even lose control of the company. For the companies, the choice of debt or equity financing is based on many factors, such as size of the company, state and dynamics of the industry, perspectives of the company, debt-to-equity ratio, debt servicing costs etc. The purpose of this essay is to consider the decision of American Superconductor Corporation to shift to equity financing from debt financing, made in 2003. AMSC case American Superconductor Corporation is a company providing wind turbine design, electrical control systems, power systems and superconductive wires (Madura, 2008). It operates mostly in Europe, North America and Pacific Asia. Before 2003, the companys investment policy was based on debt financing; however, in 2003, the decision to forgo a secured debt financing and to adopt an equity financing strategy under current market conditions (Esposito, 2003) was made. The company experienced recession in 2003; in October 2002, its stock prices have fallen to the record level of $2.25, and in 2003, they constituted about $3.36, which was very low compared even to 2002 level of $12.26 (AMSC Stock, 2010). The company needed financing, and their choice was to issue a public equity offering instead of debt financing. This decision was explained as strategic solution based on the consequences of 2003 blackouts, and CEO of American Superconductor, Greg Yurek, forecasted an increased need for their power grids and public attention to better voltage support with dynamic reactive power compensation (Esposito, 2003). The results of first six months of fiscal 2004 year seemed to prove the efficient of the decision to pursue equity financing, since no long-term debt was reported, and $17.4 million revenue in the first two quarters of the year. The company also focused on wind turbines, which were gaining popularity. Wind power in 2007, for example, became the first $30B clean energy industry (Madura, 2008). Current financial position of AMSC shows that its total revenue and gross profit values have significantly increased during the last years (2008-2010 financial information available); the companys gross margin is 39.14% compared to 32.19% in the diversified electronics industry in general (AMSC Stock, 2010). The operating margin is also higher: 14.70% compared to 5.71% industrys operating margin, the EPS is also higher (0.64) than 0.08 average (AMSC Stock, 2010). Although the financial position of AMSC is weaker than that of main competitor, ABB. Ltd., the company managed to override another major competitor, SatCon Technology Corporation. The industry provides a significant development potential, and the stocks of the company were not priced less than $10 since 2007 (AMSC Stock, 2010). Analysis of financial decision The combination of debt and equity financing impacts the companys cost of capital. Debt financing is safer for investors, while equity financing is more risky for investors, but at the same time safer for the company (Grossman Livingstone, 2009). Since debt financing creates contractual obligations, the companies should carefully consider their ability to repay the debts. Debt servicing incurs higher costs than equity financing, and if the company experiences fast growth, it might suffer from high debt servicing expenses. It has also been shown that companies with consistent profit operating in low-risk and slowly growing industries more often opt for debt financing, while companies operating in risky and rapidly changing industries as well as in volatile ones, should choose equity financing since these companies have more opportunities for investments, and would not suffer from underinvestment (Grossman Livingstone, 2009). By 2003, AMSC experienced financial problems and its stocks have dropped in price, but the conditions of the environment indicated the quick growth of interest to AMSC production. It could be forecasted that in some time the company would need significant investments and 2003-2004 was the right time to expand. If AMSC continued debt financing, its growth would be hindered by debt servicing costs and worse stock dynamics. Thus, the decision of AMSC to replace debt financing with equity financing was very appropriate in this situation. Conclusion In order to perform the choice of business financing (debt versus equity), it is necessary to consider the perspectives of the company as well as the nature and dynamics of the industry. In 2003, AMSC was experiencing financial difficulties and its stocks have significantly fallen. However, there were many opportunities for development, and the 2003 blackouts increased the interest to AMSC production. Therefore, the company had strong potential for growth, and needed strong financing source without excess cost increase. Thus, American Superconductor Corporation performed a right decision to stop debt financing, and to issue a public equity offering. The correctness of the decision can be also traced looking at further financial development of the company: AMSC is stably growing, creates new products and shows good progress compared to its competitors.

Argumentative Essay: American Have the Right To Bear Arms :: Argumentative Essays, Persuasive

Being a young American I have witnessed many problems with growing up in this great country of ours. We have homeless people who can't find work, rising inflation rates, an unbalanced budget, and more importantly, a problem with guns. Like every other good ol' boy, I am concerned about being the victim of a random shooting, but at the same time, I want to be able to take down a nice10-point buck during hunting season. Guns effect every one of us every day. They fill us with fear or they make us feel protected. My point is this: guns are a problem, but using gun control to abolish them isn't necessarily the best solution. In gun control I mean laws that keep firearms off the street by preventing their purchase. I agree that some form of gun control is needed, butwhat we really need to concentrate on is gun licensing and more gun safety. I believe in my constitutional right to keep and bear arms, and I don't feel that legislators should be allowed to take away that right. Gun control can be a good thing, but if it leads to gun prohibition I will fight it until the day I die. Â   Our country was founded on the basis of guns. The wars were won with guns and the people were protected by guns. Guns were so important that they were placed in the Bill of Rights of the United States Constitution: Â   A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed. Amendment II Â   From this amendment it is apparent that the founders of our country knew in 1791 that guns did and would continue to play a role in the lives of Americans. Things haven't really changed that much. Â   Gun control was brought into play to protect citizens from criminals and lunatics who shouldn't have guns in the first place. But only 27 percent of the criminals who are in prison for crimes involving guns have obtained them legally (Henderson 23). If criminals can find guns illegally now, how is more gun control going to stop them from getting them later? Groups against gun control,the most dominant being the NRA (National Rifle Association), are afraid gun control is the first step in outlawing guns.

Fighting Kerry Keenan :: Film Movies

Fighting Kerry Keenan Theme: This film is loosely based on the story of Lola Bardem, who as a student at Sarah Lawrence college was convicted of killing her lover and roommate, Sara Shield with a compound bow. Lola, an All-American archer, and three time cover-model for Sports Illustrated was the defendant in the case brought against her by the victim's family. The case, which I'm sure we all remember was important for many reasons, not only due to the strange nature of Sara's death, but also for the evidence brought against, and in support of Lola, including issues concerning her upbringing in a low-income neighborhood, her sexual orientation, and her gender. Although Lola's case has been closed for almost five years now, the ramifications of the suit are still being felt. Since then, many of the nations colleges and universities have cut funding for sports that are considered "out-dated" and "dangerous", although many traditional sports like football, ice-hockey, track and field, and sailing still continue to receive a large sum of funding—often being cited as sports that are associated with the identity of the school, and therefore untouchable due to pressure from alums and television networks that broadcast the games nationally. However, and perhaps more importantly, the film will mainly be concerned with the case itself, and the uproar it caused in the media. Protagonists: For our purposes, Lola's name has been changed to Kerry. Although the film is ultimately constructed temporally along the events of Kerry's case, the main protagonist is an 18 year old high school senior named Darby Brennan, who is at the time of the case is being pursued by elite universities to join their basketball team. The news that we as viewers gather about the case is filtered to us through Darby's perspective. Although initially naà ¯ve with respect to the world of competitive women's sports, Darby's experience watching the case ultimately influences her decision about playing sports in college. Other than her testimony, Kerry herself doesn't have much of a main part. Rather, it is the media's portrayal of Kerry's case that occupies much of the narrative, and should lead the viewer to question the portrayal of women in sports. Often scenes in the movie will be filmed to give the viewer the feeling of being the audience of news telecasts. However, in order to emphasize narrative perspective, Darby will often comment on the information we receive, questioning how her own life could possibly be construed by the media, and her own activities misinterpreted in the interest of television ratings.

Poem Explication I carry your heart I carry it my Essay

Explication of EE Cummings â€Å"[i carry your heart with me (i carry it in]† To better understand this very romantic poem, â€Å"[i carry your heart with me (i carry it in], we must first understand that Edward Estlin Cummings was an avant-garde, which can be defined as an intelligentsia that develops new or experimental concepts especially in the arts (Merriam-Webster). Punctuation and lowercase type are used in a way that’s visually appealing, while also highlighting the poem’s theme of unity. Cummings used this type of writing in many of his works. The poem â€Å"[i carry your heart with me (i carry it in]† by EE Cummings is a free verse poem about an undying love that is felt from within. The speaker can be a man or a woman. In this case the speaker is a man who has a deep eternal love for his lover; a she in this case. Cummings uses figurative language, linguistic paradoxes, and symbolism in this poem that makes the reader feel that undying love and unity from one lover to another. Cummings uses figurative language, denotations and connotations throughout this poem. The reader can first see this in the title, â€Å"i carry your heart with me†. Obviously he isn’t actually carrying his lovers’ heart in the literal sense. Instead the reader can understand that figuratively her presence and her love are always near. He feels it all the time. It’s within him, â€Å"i carry it in my heart.† Cummings intertwined the denotations and connotations in his poem. He does this by the use of parenthesis throughout the poem. â€Å"i carry your heart with me(i carry it in my heart) i am never without it (anywhere i go you go†¦..†. Linguistic paradoxes are used as well throughout this poem. The speaker says one thing in one line only to contradict what he is saying in the next. For example: â€Å"(†¦.whatever is done by only me is your doing, my darling) â€Å"It† is done by â€Å"only him† but it is her â€Å"doing†. The speaker makes the words work for him, although being contradictory. What is important in understanding this poem is understanding the symbolism of it. The speaker is symbolizing the love he feels for his lover by first saying he â€Å"carries your heart with me (i carry it in my heart) or â€Å"I fear no fate (for you are my fate, my sweet)† All these quotes are symbols of his love. He feels love to the bottom of his soul. He uses the â€Å"root of the root† and â€Å"bud of the bud† and the â€Å"sky of the sky† â€Å"of a tree called life; which grows higher that soul can hope or mind can hide† to describe to the reader that his love continues to grow  just as the tree of life continues to grow. This poem is obviously about love. An undying, deep love for the speakers’ lover. EE Cummings uses figurative language, linguistic paradoxes and symbolism to get the reader to actually feel the deep love that is shared between these lovers. It is â€Å"the deepest secret nobody knows (the root of the root and the bud of the bud and the sky of the sky of a tree called life; which grows higher than soul can hope or mind can hide) and this is the wonder that’s keeping the stars apart†. â€Å"i carry your heart (i carry it in my heart)† Works Cited Cummings, EE. â€Å"Poetry: 1952 Issue. â€Å"[i carry your heart with me (i carry it in].† 1952,. www.poetryfoundation.org. Web. 25 May 2014. Merriam-Webster. . 25 May 2014.

Evolution of the Erp Systems Essay

American Production and Inventory Control Society (2001) defines ERP as an â€Å"accounting system† for â€Å"effective planning and controlling of all the resources needed to take, make, ship and account for customer orders in a manufacturing, distribution or service company†. ERP system creates values for the enterprises because successful implementation enhances the overall functions of the enterprise, reduces resource wastages, saves time and cuts down on total cost. By having a system which models after some of the best practices in the industry and adheres readily to the laws and regulations, these enterprises gain competitive advantages over their industry rivals. The purpose of this research paper provides discussion on how ERP systems evolve from the â€Å"ancient† Legacy systems, describes the features and structure of an ERP/ ERP II system and compares the top five ERP vendors’ most popular products. The last section concludes with the future outlook of ERP II systems. Legacy Systems Legacy systems are systems that â€Å"no longer support the current business objectives or are inhibiting future developments† (Kelly 2004). The â€Å"ancient† Legacy systems mentioned here refer to the obsolete I. T systems during or before the mid 20th Century. They functioned within a department (silos of information) to fulfill narrow and limited job processes. At that time, departmental heads and staff seldom communicated among themselves (stovepipes). This led to inefficient and inaccurate data duplications. (O’leary 2000). Evolution of the ERP Systems â€Å"Ancient† Legacy systems of the 1960s used the mainframe technology to automate their inventory control (IC) systems with IC software packages implemented and customized in-house to suit the functional business concepts of information silos and stovepipes. The programming languages were COBOL, FORTRAN and ALGOL (Rashid, Hossain & Patrick 2002; Pairat 2005; Monk and Wagner 2009). Back then, Bill of Material (BOM) calculated the inventory demands for all item parts required for product assemblies during manufacturing. By the 1970s, the manufacturing businesses were growing with more complexities. As BOM overlooked the planning process, Work Centre Routing existed as a production process planner. BOM, Routing, Inventory Management and the Master Production Schedule (MPS) combined to form an automated system called Manufacturing Resource Planning (MRP) for controlling and optimizing inventory level, production planning, sales forecasting and scheduling of the major items on the shop floor. Anderson 2001). MRP II evolved from MRP as a response to Total Quality Management (TQM) in the 1980s. By integrating MRP with the other management functions of the enterprise such as Engineering, Project Management, Logistics, Finance, Sales, Marketing and Human Resources, feedbacks for production decision making processes became more efficient and resource optimizations were realized (Anderson 2001). The advancements in Telecommunications devices, network architecture, Database Management System (DBMS), sophisticated software development and programming languages in UNIX and C paved the favourable way for an integrated information system (Monk and Wagner 2009). Economic recession in the late 1980s urged companies to shift their focus into cross functional business processes. In addition, Hammer and Champy (1993) envisioned an enterprise-wide integration system for a Business Process Reengineering (BPE). These factors prompted the I. T System Vendors to respond with a tightly knitted centralized ERP system (with a single database) which integrates all the functions of a world-wide organization to ensure operational excellence, automation of the internal system and the ability to handle multiple currencies and international languages (Subramoniam et al. 2009). Features and Structure of An ERP/ ERP II System Nowadays, the era for ERP II systems has â€Å"Extended ERP† by adding applications for external parties supplying the business transactions and market analysis to the core EPR modules. ERP system benefits medium enterprises in all industries instead of only the large organizations with applications such as Customer Relationship Management (CRM), Supply Chain Management (SCM), Knowledge Management (KM), Inventory Optimization the rest (Mallick 2011; Nicolescu et al. 2009). ERP system and ERP II system use either Two-tier or Three-tier Architecture. Two-tier client–server Architecture simplifies the number of disparate systems in an organization. An ERP solution runs on a server while several concurrent users run the same standardized template (equal server-load) in other locations of the other layer. End users work on the Presentation layer and Business layer. Access to the Database layer is restricted from their PCs. (Anderson 2001; Gill 2011; Howitz 2010). Whereas Three-tier Architecture separates the Client-Tier (Presentation layer) from its Application Server (Business logic layer) to minimize interaction between them.

Tips in Casino Games

How would you like to win at blackjack? Keep reading if you are interested in gaining some valuable advice from a retired dealer, if not turn to the home gardening page. Blackjack is one of the most popular games played at the casino because it is a game where the player can have an edge over the house. Basically, the object of the game is to beat the dealer. Having a hand with a value higher than the dealer or having a legal hand while the dealer busts does this. The player must know some basic strategies and procedures in order to have an edge over the house. The process starts before entering the casino; however, the principal procedures are carried out while at the table. Some strategies and procedures include money management, picking the right table and counting cards. Money management is as important as playing strategies. This process starts at home and finishes when the night is over. Firstly, a player should determine how much money to bring to the casino. A good rule is to multiply the average bet by 25; this allows for at least 25 hands. This is important because blackjack is a game that fluctuates with highs and lows, but in the long run, with good strategies, the edge is in the favor of the player. Also a loss limit can be set beforehand. The loss limit is the amount of money that a player will lose before quitting the game. Usually the loss limit is set to the initial amount, but should never be set at more than that. When at the table, money management is also important. There are two simple rules: leave if the money doubles and leave if the money is lost. Try to double the initial amount and if this is done, leave. It has been a good night. However if the initial amount is lost or the loss limit is reached, leave. Never get more money to play with because this generally leads to more losing and more emotional distress. Management over emotions and money will lead to success at the table. Picking the right table may determine whether winning or losing occurs. When arriving at the casino, do not play right away. Study the tables, the players and the dealers. Study all the anchors; that are the players who receive the last hand. More skilled players usual play this position. Having a good anchorman is invaluable because his/her moves determine the dealer†s hand. A good anchorman will save the table regardless of his/her own hand. Also study the other players at the table. Ignorant players can affect the shoe by making a bad move or decision. Lastly the dealer should be examined. Observe the speed at which the dealer deals the cards. Slower dealers will allow card counting, which will be explained in the next section, to be done more easily. Picking the right table can help increase the odds of winning at blackjack. More advanced players count cards to win at blackjack. Card counting is basically keeping track of the cards that have been dealt. This procedure is executed while playing at the table that has been chosen. This is the strategy used by Dustin Hoffman†s character while playing blackjack in the movie The Rain Man. His character uses card counting to his advantage to help a friend win a considerable amount of money. Advanced card counting is difficult to explain and difficult to employ; however, less advanced card counting is more straightforward and still useful. At the start of the shoe, count the number of face cards and aces, which have been dealt. There are 64 face cards and 16 aces in a shoe with four decks. By counting the card, the player has a better idea of what the next card will be. If a large proportion of face cards and aces are dealt at the beginning, the rest of the shoe is unfavorable. As a result lower the bet. If there are more face cards and aces towards the end of the shoe, then the upcoming hands are more favorable and this in turn increases the bet. Card counting is simple to learn with practice yet it is extremely powerful. Money management, picking the right table and counting cards are strategies that can help the player win at blackjack. Independent, each procedure can help improve the chance of winning but collectively, these strategies can give the player the winning edge. Following these easy to learn tips I present, you are on the road to winning at the game of blackjack, but remember this advice I give to you sincerely, do not forget to tip the dealers!

Stanley Fischer's model Essay Example | Topics and Well Written Essays - 1000 words

Stanley Fischer's model - Essay Example (Taylor) Implicit wage contracts is when workers are risk averse and employers are not, an implicit contract may be made with an understanding over "compromise" basic pay and hours. This may or may not generate nominal wage rigidity. Contracts like this may be non-implementable if there is asymmetric information. The Policy Ineffectiveness Proposition (PIP) is the idea in new classical economics that rational expectations implies that government policy can have no impact on real economic variables. (Wikipedia) Policy ineffectiveness proposition is a monetary policy which is an output stabilizer. It does not affect the real flow of output but rather, surprises and stabilizes the economy. It implies that in a place where the population has rational expectations, government policies which are made to influence the economy into a level of production will never be effective. Due to the flexibility of the price and wages, changes will be anticipated and adjusted on implemented policies thus it does not affect aggregated policies. Policy implications during this economic stage are; government should not do any activist policy because government should know the public's expectation and public will also try to anticipate government's expectation about the public. Just before the new Keynesian model was formulated, it was believed that the formulation of government policies does not have any direct effect on wages and prices in the market unless a surprise monetary policy was released and discloses the economic status in a short wile. It was also believed that wages and prices are completely flexible and would directly adjust to the expected price levels unless otherwise, unanticipated changes occurs which affects cumulative outputs. Arratibel and Thomas states in the consequences of staggered wage setting for the credibility of monetary policy that "In contrast with the New-Keynesian theory, new classical economists argue that credibility problems are central to the disinflationary process, so that disinflation would be costless if the government announced credible commitments. But, if multi-period contracts lead to more lasting effects of monetary policy surprises, they will enhance the credibility (time consistency) problem of monetary policy." (1) Fischer started to investigate monetary policies focusing the wage and price rigidity of which, it was believed that the formulation of government policies does not have any direct effect on wages and prices in the market unless a surprise monetary policy was released and discloses the economic status in a short wile. It was also believed that wages and prices are completely flexible and would directly adjust to the expected price levels unless otherwise, unanticipated changes occurs which affects cumulative outputs. Due to the flexibility of the price and wages, changes will be anticipated and adjusted on implemented policies thus it does not affect aggregated policies. Stanley Fischer's model of

Write topic Essay Example | Topics and Well Written Essays - 250 words - 1

Write topic - Essay Example How does the child compare to what the textbook identifies as age-typical. (you can also use other appropriate sources for developmental milestones if you reference them) Opening of doors and pulling at items. Toddlers at this age can be able to use their legs and hands but not in a refined way but they have the gross motor skills. The child’s actions compares to those explained in the book. 4. Give examples of fine motor skills that you observed. What does the textbook say for infants and toddlers of this age? How does the child compare to what the textbook identifies as age-typical. (you can also use other appropriate sources for developmental milestones if you reference them) The toddler is able to hold cups and can even pick pieces on the surface. The fine motor skills are not fully developed but there is evidence of their existence as can be observed in the toddler’s use of fingers. 5. Provide three examples of sensory perception the child uses while involved in activity during your observation. What does the textbook say about those sense modalities and their development in infants and toddlers? How do they compare to what the textbook identifies as age-typical? (for example: A baby turns his head toward his mother when she calls his name, a baby makes a face when she tastes something sour, a toddler watches the family dog walk across the room.) The baby observes the actions on the television, during feeding, the baby spits food that they do not like and he also listens when a familiar song is sang to him. These perceptions are in line with the book as the toddler is grossly able to distinguish taste, sound and visual

Social desirability effect Essay Example | Topics and Well Written Essays - 500 words

Social desirability effect - Essay Example Field study is one of the methods employed by researchers in studying human behavior. Field studies are undertaken in a natural setting rather in a structured environment (Kitayama & Cohen, 2010, p. 220). It involves a naturalistic observation wherein researchers discreetly observe behaviors that occur in a natural setting. Field study also entails observation of individual’s reactions to stimuli or events designed by researchers in the natural setting (Kitayama & Cohen, 2010, p. 220). This particular method of study is interesting as it offers an in-depth detail of a social phenomenon. However, the results derived from these studies fail to provide objectivity as it relies on the researcher’s judgment. The means to improve such method become an interesting area of study. Field study can serve as an insightful means of defining group behaviors. Wimmer and Dominick (2010) stressed that field studies possess an advantage of being nonreactive. Reactivity refers to the effe cts of the subject’s awareness of being observed or measured on her or his behavior. The objectivity of studies often suffers from subject’s awareness of being observed (p. 225). Sevilla, Ochave, Punsalan, Regala, and Uriarte (1992) reiterated that there are variables in social psychology that cannot be explored through experimentation (p. 154). Thus, field study offers insights into these phenomena. It presents a great breadth and depth of understanding unattainable by quantitative researches (Shepard, 2004, p. 50). Shepard (2004) stressed that findings in a particular situation may not be applicable to other situations. In addition, most field studies fail to employ standardized measuring devices. Researchers rely on subjective interpretation and judgment. The researcher’s judgment is vulnerable to biases and blind spots (p. 50).

Term Paper Essay Example | Topics and Well Written Essays - 1250 words - 2

Term Paper - Essay Example It has its focus on the target readers who may or may not be very much interested in each and every detail of the study but can be very much interested in knowing how to maintain their weight not to regain. The article has been a successful effort in providing what readers look for in any news. The article used for this study is ‘A Self-Regulation Program for Maintenance of Weight Loss’ from the journal ‘New England Journal of Medicine’ published on 31 October 2006. The team of Dr. Rena Wing, PhD have conducted this study. Dr. Wing is also Brown University professor of psychiatry and human behaviour and co founder of National Weight Control Registry program. The paper is based on one of the most concerning issues of today’s scenario. Obesity is a problem which leads to several other health related and psychological problem in an individual. People once lose weight sometimes become relaxed and regain the weight they had lost. The journal article is based on this issue of obesity and maintenance of weight loss. The main issue in the study are regaining of weight in individuals after weight loss program and impact of maintenance program based on self regulatory theory on this weight regains. People face to face interaction and daily weighing c reates better impact on the interest and efforts of maintaining weight and avoiding weight regain. The hypothesis of the paper is that â€Å"the interventions, delivered face to face or over the Internet, would decrease average weight regain and reduce the proportion of participants who regained 2.3 kg or more during a period of 18 months.† The study is about weight regain. There are various dependent and independent variables considered in this study. There were various dependent variables like weight loss in specific period, calories intake, physical activity and method of instruction like face to face, internet or control group were dependent on variables like sex, age, weight,

Organizational Communication Research Paper Example | Topics and Well Written Essays - 1500 words

Organizational Communication - Research Paper Example Effective leadership and novel and innovative organizational communication strategies aimed at integrating the efficiencies of a talented workforce with strong leadership are the only means available at the disposal of organizations today, to sustain their competitive positioning and market domination (Burke and Cooper 5; Driskill and Brenton 936). At Ogilvy & Mathers’ (O & M) special efforts are made by the leaders and managers to translate the corporate challenges encountered by them into success stories by encouraging a system of smooth uninterrupted communication and building an environment that honors and elevates the status of employees to that of highly competent and motivated individuals. Introduction: Ogilvy and Mather is a reputed international advertising firm headquartered in Manhattan, U.S.A founded in the year 1948 by David Ogilvy and spread in over 169 cities. Over the past 60 years the firm has managed to build a strong brand name and encouraged an impressive c orporate culture that has helped build some of the most recognizable brands in the world namely American Express, Ford, Shell, Barbie, Sears, Dove, IBM, and Kodak among others (O & M). The overwhelming success achieved by the firm stems from its persistence and relentless pursuit of excellence which it managed to achieve by developing and implementing innovative workplace practices and strong leadership. Some such leadership and organizational communication strategies adopted and applied by O & M over the years that helped the brand in achieving unprecedented success, are discussed in the following sections. Leadership at O & M: According to Wrench (182) coaching strategy of leadership is one of the most significant strategies adopted by modern leaders which entails the use of one-on-one interactions by the leaders as a means of communicating with their followers and subordinates in a bid to enhance their performance. This strategy was successfully applied by David Ogilvy - the foun der of O & M one of the most renowned international advertising firms. Ogilvy's leadership entailed an innovative coaching style which included long and deep conversations with the employees which were not limited to the problems and issues faced by them within the organization but extended beyond the boardroom into their personal space, where the employees were encouraged to discuss their personal beliefs, dreams, goals well as career related hopes (Wrench 183). Coaching style of leadership: This style of leadership was first introduced by Paul Hersey and Ken Blanchard in the late 1960s (Poole 104) and later popularized by Daniel Goleman (Cherniss and Goleman, 43). Wright (237) defines coaching leadership as leadership that "delegates responsibility for elements of the organization's strategy". One of the key traits of a leader as a coach is the ability to listen to their employees via a one-to-one communication method and establish rapport and mutual trust. Good leaders according to this leadership style are those that excel in the art of listening and guiding their employees to identify their strengths and weaknesses and contribute towards their productivity and performance by helping them to identify the resources required to enhance their outcome as well as ways to find the same (Wright 237). Ogilvy & Mather has always endorsed the ‘leader as a coach’ brand of leadership whereby the leaders are encouraged to

Foreign Exchange Service of Bank Asia Limited Essay Example for Free

Foreign Exchange Service of Bank Asia Limited Essay 1. Introduction The banking sector in Bangladesh comprises of four categories of scheduled banks. These are, nationalized commercial banks (NCBs), government owned development finance institutions (DFIs), private commercial banks (PCBs) and foreign commercial banks (FCBs). Performance of these banking sectors under CAMEL framework, which involves analysis, and evaluation of the five crucial dimensions of banking operations, the five indicators used in the rating system are (I) Capital adequacy (ii) Asset quality (iii) Management soundness (iv) Earnings and (v) Liquidity. In addition, foreign Exchange Service is one of the major considering factors regarding these indicators. The bank acts as a media for the system of foreign exchange policy. The principles of foreign exchange service involve the entire system, the media used, and the monetary unit. According to Mr. H.E. EVITT Foreign Exchange is that section of economic science which deals with the means and methods by which right to wealth in one countrys currency is converted into rights to wealth in terms of another countrys currency. So bank should be aware about this section for the overall development of the economy. 2. Background of the study An internship program’s necessity is originated for implementing the theoretical knowledge in particle field. Therefore, internship program is included in BBA program. The goal of this report is to identify the contribution and the effect of foreign exchange service in Bank’s net profit. 1.3 Rational Of the Study The rational of the study is to know more about the course in practical life. This study also helped me to know the banking system. From this study I learned about the different functions in the bank like offering online banking, pay order, foreign remittance, foreign trade, investment etc. I also learned how the banks perform these functions, what problems they face, and their benefit in offering different services to their clients. Then I was assigned in foreign trade department, so I have learned about L/C Files, register and over all L/C mechanism. In this section, how they provide their services to the clients I have also learned about it. As a student of Finance, it is very important for me to acquire proper knowledge in this course to get better result in the future. 1.4 Objectives of the Study 1) The prime objective of the study is to understand various functions of Banks. I tried to evaluate the present condition of the banks. 2) To know about various products services of this bank, and to know about the banking terms as well as habituate with banking environment. 3) To know how they find out the risk of the foreign trade. 4) To know how they identify these types of risk and minimize them. 1.5 Methodology of the study For preparing the report, I followed the following steps: âž ¢ Primary Information: First, I collected data about the Foreign – Exchange Service in Bank Asia ltd. MCB Dikusha Branch by tenting to personnel working in the bank. âž ¢ Secondary Information: Then in the second stage, I analyzed the collected data, working in Foreign Trade Department. Again, †¢ Personal Observation †¢ File Finding †¢ Annual Reports of BAL †¢ Articles of BIOM helped to prepare this report. 1.6 Limitations of the Study Not all the information of a Bank can be disclosed. It is very much essential for a bank to provide security to the customer. So the perfect information might not be shown in all places. The Employees of the Bank are also very busy. Therefore, the employees of the bank do not have enough time to provide me help regarding preparing report. Therefore, it was very hard for me to collect the data and bring out the proper information in order to make report look good. I had to go through many obstacles in order to make it presentable. 1.7 Scope of the Report The scopes of the report are as follows: †¢ The report would help the top management to identify the key areas of weakness and strength in foreign exchange service. †¢ The scope of the study is based on brief description of BAL has been furnished. †¢ The study may help top management in planning and decision making regarding foreign exchange service. CHAPTER 2: AN OVERVIEW OF THE PRINCIPAL ACTIVITIES OF â€Å"BANK ASIA LIMITED† 2.1 OVER VIEW OF BANK ASIA LIMITED: Bank Asia Limited (Ltd) has been launched by a group of successful entrepreneurs with recognized standing in the society. The paid up capital of the Bank is 1395 million. The management of the Bank consists of a team led by senior bankers with decades of experience in national and international markets. The senior management team is ably supported by a group of professionals many of whom have exposure in the international market. Bank Asia Limited is one of the third generation private commercial banks (PCBs), incorporated in Bangladesh on 28 September 1999 as a public limited company under the Companies Act 1994, and governed by the Banking Companies Act 1991. The Bank went for public issue of its shares on 23 September 2003 and its shares are listed with Dhaka Stock Exchange Ltd and Chittagong Stock Exchange Ltd. Bank Asia Limited acquired the business of Bank of Nova Scotia (incorporated in Canada), Dhaka, in the year 2001 and at the beginning of the year 2002, the Bank also acquired the Bangladesh operations of Muslim Commercial Bank Limited (MCBL), a bank incorporated in Pakistan, having two branches at Dhaka and Chittagong and one booth at Dhaka. In taking over the Bangladesh operations, all assets and certain specific liabilities of MCBL were taken over by Bank Asia Limited at book values. Within a short span of time Bank Asia Ltd has established itself as one of the fast growing local private banks. It has at present a network of Thirty three branches serving many of the leading corporate houses and is gradually moving towards retail banking. Another significant delivery channel is its own as well as shared ATM Network. Bank Asia has a network of 25 ATMs out of which 6 it owns. The other 19 ATMs are shared through ETN with eleven other banks. Since its humble beginning in 1999, it set milestone by acquiring the business operations of the Bank of Nova Scotia in Dhaka, first in the banking history of Bangladesh. It again repeated the performance by acquiring the Bangladesh operations of Muslim Commercial Bank Ltd. (MCB), a Pakistani bank. In the year 2003 the Bank again came to the limelight with oversubscription of the Initial Public Offering of the shares of the Bank, which was a record (55 times) in our capital market’s history and its shares commands respectable premium. The asset and liability growth has been remarkable. By Dec 2007 the total asset of the Bank grew to Tk 38436 million, increase of almost 26% comparing to 2006. As of Dec 2007 deposits increased to Tk 30004 million, an increase of 19% over that of 2006, and Loans Advances reached Tk 28456 million, an increase of 28% over that of 2006. Bank Asia has been actively participating in the local money market as well as foreign currency market without exposing the Bank to vulnerable positions. The Bank’s investment in Treasury Bills and other securities went up noticeably opening up opportunities for enhancing income in the context of a regime of gradual interest rate decline. Bank Asia Ltd is maintaining its competitiveness by leveraging on its Online Banking Software and modern IT infrastructure. It is the pioneer amongst the local banks in introducing innovative products like SMS banking, and under the ATM Network the Stelar Online Banking software enables direct linking of a client’s account, without the requirement for a separate account. 2.2 VISION STATEMENT OF BANK ASIA LIMITED: Bank Asia’s vision is to have a poverty free Bangladesh in course of a generation in the new millennium, reflecting the national dream. Our vision is to build a society where human dignity and human rights receive the highest consideration along with reduction of poverty. 2.3 MISSION STATEMENT OF BANK ASIA LIMITED: To assist in bringing high quality service to our customers and to participate in the growth and expansion of our national economy. To set high standards of integrity and bring total satisfaction to our clients, shareholders and employees. To become the most sought after bank in the country, rendering technology driven innovative services by our dedicated team of professionals. 2.4 CAPITAL STRUCTURE: Banks generally do their business with other’s fund, so Bank Asia Ltd is not in exception. Bank Asia Ltd uses 24% equity and 75% Debt source of capital. The capital structure is following: