Advocation for Legalizing Recreational Marijuana - 1332 Words

Pro Legalizing Recreational Marijuana A controversial topic often being advocated for by sitting governors is whether the legalization of marijuana is more beneficial or harmful to the economy. Marijuana, also known as weed, is a mixture of the dried and shredded leaves, stems, seeds, and flowers of the cannabis sativa plant. It’s the most widely used illegal drug in the United States, even though studies have shown results that the benefits of using marijuana for medicinal or recreational reasons far outweigh the negative matters that may be associated with its use. While marijuana is still a controlled substance under federal law, thirteen U.S. states currently have compassionate use laws in place, which allow for regulated medical marijuana use. By legalizing marijuana, the government is helping the economy by reaping medical and financial benefits, not only at the state level, but also at the federal level. Taking into account the numerous studies done with marijuana on whether it is for recreational use or medical purposes, the government cannot go wrong in legalizing marijuana because of such an impact it will have. Marijuana should be legalized for recreational purposes because it will help society economically and socially. Many misconceptions are associated with the illegal drug of marijuana including its composition and the possible harmful effects that come with it. Marijuana is also referred to as Cannabis, which is the botanical term. The product of marijuana

Essay about Texas Gulf Sulphur Case Study - 690 Words

Case Study #1 #1- Did any of the following individuals in Texas Gulf Sulphur violate civil or criminal law by breaching a Fiduciary duty or engaging in insider trading: Drake: A geologist and junior member of the exploration group who was authorized with confidential information. Although Stephens made it clear that the information about the Canadian Shield should be kept within the selected group of employees, Drake desecrated a Civil Law, the Security Law; and became an inside trader by making Investment decisions based on information that the general public was not aware of.†¦show more content†¦Huntington: He was the corporate attorney of TGS. You would think that as an attorney he knows that his job is to look for the benefits of the company. As like the president the attorney can’t do anything that’s against the interest of the company. Huntington has never before bought calls on any stock, but knowing that what he was doing was against the law, he still went ahead and bought 100 shares of TGS stock. Huntington was involved in insider trading. #2- What is your assessment of the Texas Gulf Sulphur press release of April 12? My assessment on the Texas Gulf Sulphur press release of April 12 was that due to the rumors that â€Å"a major ore strike is I the making,† and the unauthorized report being published, there was an actual press release. In my opinion, if it wasn’t because of all the rumors Stephens, Fogarty, and Huntington wouldn’t have agreed to have a press release, which was only held to stop the rumors and give false information to the world on their discovery. #3- Did Martha Stewart engage in insider trading? If so, by what theory? 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Macroeconomics questions Free Essays

ATT it represents savings because the check wasn’t being spent on consumption goods. ) Your roommate earning $100 and depositing it into her bank account also represents saving because the money wasn’t spent on consumption goods. D) Borrowing $1000 from the bank to buy a car to use in your pizza delivery business represents Investment because the car Is a capital good. We will write a custom essay sample on Macroeconomics questions or any similar topic only for you Order Now Page 295 Question 2: a) People get the benefit from the market of insurance not to eliminate the risks but to spread them around more efficiently. ) Two problems that impede insurance companies from working perfectly and their ability to spread risk are adverse election and moral hazard. Adverse selection is when a high-risk person is more likely to apply for insurance than a low-risk person because a high-risk person would benefit more from insurance protection. Moral Hazard is how after people buy insurance, they have less incentive to be careful about their risky behavior because the insurance company will cover much of the resulting losses. Page 295 Question 5: Determine the companies sales revenue and number of stocks, and looking at the potential growth or weaknesses that may be facing the company. Health insurance could be an adverse selection because if it’s a person who has more health problems than the average healthy person they would benefit more from the insurance protection. A moral hazard for health insurance would be if after people got health insurance they stopped taking care of their health as well because they know they can fall back on the insurance. Car insurance could be an adverse selection if a person has an unsafe car or a record of bad driving they would be at higher-risk and benefit more from insurance protection. People who Just get car insurance could be a moral hazard because they know the insurance will cover a majority of their losses so they will stop driving as carefully. Chapter 1 5 Questions Page 318 Question 3: a) Frictional unemployment results because it takes time for workers to search for the jobs that best suit their tastes and skills. Frictional unemployment is inevitable because frictional employment is often the result of changes in the demand for labor among different firms. There could also be changes in the composition of demand among industries or regions called secular shifts that cause temporary employment while workers are in transition to search for Jobs in new sectors. Simply put, frictional unemployment is inevitable because the economy is always changing. People also leave there Jobs to search for Jobs that better suit their skills which also causes some frictional unemployment. ) If the government wanted to reduce frictional unemployment they could have skills development seminars in order to ease the transition of workers from declining to growing industries. They could also have employment agencies to match the unemployed labor to Jobs that match their skill set. Page 318 Question 7: A firm could increase its profits by raising the wages it pays because better paid workers are healthier and more pr oductive, worker turnover is reduced, the firm can attract higher quality workers and worker effort is increased. Age 319 Question 7: a) If manufacturing workers formed a union, I would predict that the wage would rise and the quantity of labor demanded would decrease. Because the wage is higher, the quantity of labor supplied would increase, so there are unemployed workers in the unionized manufacturing sector. B) When the workers become unemployed in the manufacturing sector they will seek employment in the service labor market. The result of a larger supply of labor results in a lower wage in the unionized service sector and an increase in employment. Chapter 16 Questions Page 345 question 2: Intrinsic value means that the item would have value even if it were not used as money such as gold. Fiat money is money without intrinsic value that is used as money because of government decree. The paper dollars that we use are fiat money, each dollar reads, â€Å"This note is legal tender for all debts, public and private. Page 345 Question 9: Reserve requirements are regulations on the minimum amount of reserves that banks must hold against deposit. When the Fed raises reserve requirements there are less loans mad and the overall money supply shrinks. Page 346 problem 7: You would use the money multiplier which is 1/. 05 so 20. The maximum expansion of the money supply that occurs when the deposit that is made is 20 times the initial deposit which means we get 40,000 in money supply for the $2000 in cookie Jar money. If one creates more it expands the supply by the money created. How to cite Macroeconomics questions, Papers Macroeconomics questions Free Essays If business cycles are inevitable, what is the purpose of keeping track of different stages? It has been said that an economist recognizes three certainties in life: death, taxes and the business cycle. Throughout mankind’s existence, the cycle manifested itself in periods of growth followed by phases of contraction. Understanding the various phases of the cycle is important to a business in order to avoid economic bubbles and also maximize returns. We will write a custom essay sample on Macroeconomics questions or any similar topic only for you Order Now History has proven many times that big and small businesses who do not take into account the business cycle usually get run over. Studying the different phases of the business cycle – recession, recovery, growth, and decline -is critical as each phase requires a different business strategy. Identifying the beginning and ending of each phase and what to expect in between can allow a company to align its strategies, tactics, and operations to reflect changing business conditions. While there is no definite formula that will apply to all companies, the general approach is to focus on a company’s strengths and core competencies and at the same time focus on stronger planning practices. Quick-thinking investors who recognize the different phases of the market cycle are able to take advantage of them to profit. They are also less likely to be deceived into trading at the worst possible time. The stock market crash of October 1987 reduced the wealth of the average American Household. How did this event impact the aggregate demand? The stock market mobilizes domestic resources and channels them to productive investment as such it is an important source for companies to raise money. The stock market has a significant relationship with the economy. On one hand it serves as the leading indicator of the economic activity in the country, on the other it has potential impact on aggregate demand, particularly through aggregate consumption and investment. The stock market crash of October 19, 1987 (known as Black Monday) recorded a US$1 trillion slash off the value of the stock market resulting in the reduction in American aggregate demand. Though not as catastrophic as the crash of 1929 because of the quick and decisive steps taken by the government, the 1987 crash affected consumer purchases of durable goods leading to a decline in business investment. As household income took a hit, consumer spending rattled. This led to a decline in overall demand. The crisis caused uncertainty about future income, which led consumers and firms to put off purchases of durable goods. What is the reason for the Aggregate Demand curve to have a downward shape? Aggregate demand is the economy-wide demand for goods and services. The aggregate demand curve slopes downward because of the following: Wealth Effect: A decrease in the price level encourages consumers to spend more. Thus the increase in spending causes an increase in the quantity of goods and services demanded. Interest-Rate Effect: A lower price level reduces the interest rate and encourages greater spending on investments, and increasing the quantity of goods and services demanded. If the price level falls, households may deposit excess money into an interest bearing savings account driving down the interest rate and encouraging firms to borrow and invest in equipment and factories, which leads to an increase in the quantity of goods and services demanded. Exchange Rate Effect: As price levels and interest rates fall, the real exchange rate depreciates. This depreciation impacts net export thus increasing the quantity of goods and services demanded. How can an economy eliminate cyclical unemployment? Cyclical unemployment is unemployment caused by the business cycle – that is a general downturn or lack of demand in the economy (a recession). The solution to eliminating or reducing cyclical unemployment is to increase aggregate demand through demand management policies which are designed to stabilize the economy by changing aggregate demand. The most noted demand-management policies are fiscal and monetary. What events in the economy can contribute to the change in the consumer confidence level? Consumer confidence levels are generally influenced by the following: Expectations of future income and employment The current level of interest rates and future interest rate expectations Trends in unemployment and changes in perceived job security Anticipated changes in government taxation Changes in household wealth What are the participants of the Aggregate Demand Curve? The participants are consumers or households; business firms; the government; and, the rest of the world. References Lutz G. (2002). Business Cycle Theory. Oxford University Press Boyes, W., Melvin M. (2007). Economics, 7th Edition.Houghton Mifflin Company Arnold, Lutz G. Business Cycle Theory. Oxford University Press, 2002. Remembering the Crash of 87 (2007). The CNBC Archives, Retrieved October 30, 2007 from the World Wide Web: http://www.cnbc.com/id/20910471 Bozzo, A. (2007). Tale of The Tape: The Crashes of 1987 And 1929. The CNBC Archives, Retrieved October 30, 2007 from the World Wide Web: http://www.cnbc.com/id/21191480 Macroeconomic Unemployment Explained (2007). EconGuru Economics Guide, Retrieved October 30, 2007 from the World Wide Web:   http://www.econguru.com/macroeconomic-unemployment-explained/    How to cite Macroeconomics questions, Essay examples

Cross-Cultural Management Universal Business Context

Question: Discuss about theCross-Cultural Managementfor Universal Business Context. Answer: Introduction Cross-cultural management can be defined as the practice in which work is managed by teams in such a way which considers the alterations in the cultures, preferences and the practices of the customer in the worldwide or universal business context. Competing for the levels in their fields most of the businesses have to learn to modify or adapt their approach where they dont confine to the physical geography with the transaction online which are more common in the business and various other situations. In the past, most of the years in the international business dealings, the intercultural interactions have mostly increased in their importance as the number of people where having access to the widest range of markets with the newly developed technology. Not only the wireless technology has made the world smaller by making the transaction faster across the entire nation, but also the travel has become much faster and very easy that all the people should know how to have an interaction with people of different cultural context. Mainly businesses along with other professions have to include the management of cross culture in their training or the curriculum as there is a need. For example, if planning to work with various cultural situations either at home or abroad, you need to have a communication in an effective manner so that misunderstandings can be prevented and one can show respect to those people with whomsoever they are willing to work. In any kind of profession communication is the main criteria which hold the value, as it has become essential in any kind of field so learn to communicate among various cultural contexts and the situations How Ready you are for a Future Where more and more Activity Involves Multiple Cultures. The multicultural environment exists in the organization because there would be the collaboration of two or more organizations in which members various cultures are involved. All these members are more likely to be from different cultural background and also their orientations differ. For instance, if I belong to Singaoore, then my cultural background would resemble that of an Singaoore. So, according to that basis, I would act and execute the actions as per the situation. If a workplace is being in collaborations between various organizations then they would also combine the different cultures. If at all the organization in which Im carrying out my employment has merged with the other organization, then arises the situation where I need to work with the members of the adopted organization as well as the colleagues from the current organization so there would be the cocktail of cultures involved in them. This would be the difficult situation to get adjusted. While making the commitment they bonded the relations for a long duration of time with each other. In such a situation, there are various issues that come into the picture where the organization should mainly focus upon. As an employee in the organization, Im in the process of development. In this organization they would give the values to the collaborators and provide them with mutual respect and the level of trust would be higher by valuing the differences that are present in the environment of both the organizations. By enhancing the leadership qualities potentials one can have the correct view over the multiple cultures of the organization which can be obtained from the development of the career of the employees. It can be correlated in such a way that if the leadership qualities are enhanced the employee engagement will improve which in turn will increase the productivity of the organization. Mentoring provided through the managers and other officials also would play a major role in the development of a multicultural environment as it would create the trustworthy environment in the premises. Sharing of knowledge between the members of the organization will be one of the best scenarios where the multicultural environment can be handled easily. As this creates the appropriate interaction between the people in the company where they can have a view on various cultures involved and the learning would be fast. How is UCD Doing in Helping Prepare you for a Future where Different Cultures have Different Ideas of Corporate Social Responsibility and Ethics? The UCD in the expanded form known as the University of Dublin located in Singapore is involved in helping the students get prepared with respect to the market culture that is a mixture of all. As a part of this process the university is being incorporated into different kinds of activities which would help them in developing the strategies for the business in a better way. For performing the strategic social function the university is over with the corporate social responsibility. According to my view, the CSR known as Corporate social responsibility is found to be in the place of the organization public policy which is related to the corporate policy. The ethics of the organization and the diversity in the corporate governance are included under the corporate social responsibility. Within the organization itself the legal and the regulatory concerns, are provided by the University of Dublin of Singapore along with the social interactions. CSR is noticed to be such a factor which is known to cover the every possibility requirement of the organization. By following the globalization, philanthropy and the triple bottom line the CSR is known to deal with the business ethics. By this, it can be strongly said that the social and moral responsibilities can be dealt by the CSR which provides greater support in preventing the issues that occur in the workplace with regards to the operations of an organization. Conclusion There are various literature which have been discussing the cross-cultural management and also the complexity that has been increasing in the business environment globally has been referred. The modern ethics that have been included in the business domain are the expansion of the business and its sustainability. These both terms are said to be interrelated with each other as the employees who are working in the environment of multiple cultures will know the strategies of sustainability along with the productive expansion of business. In the business context, corporate social responsibility has been the trustworthy edition and the implication that are under the CSR for the social welfare of the business and its sustainability would contribute for the development of the competencies of the individuals in the future.

The Basel Accord free essay sample

This paper throws light on this and a number of related issues due to a combination of the novelty of the survey data from risk managers coupled with a rigorous statistical analysis. Results reflect that the Basel Accord is generally well regarded due to its underlying aims of improved capital standards and a scientific treatment of risk. However, operational risk emerges as a key barrier to implementation in Bangladesh. A number of further obstacles are highlighted, which, do seem to have been addressed although only with a partial degree of success. Privately owned banks appear to be more technically competent and more favorably disposed towards implementation than publicly owned banks. ACKNOWLEDGEMENT First of all I would like to my cordial thanks for almighty Allah whose uniqueness, oneness, and wholeness are unchallengeable guided us in difficult circumstances. All respects are for his holy prophet Hazrat Muhammad (SM) Peace be upon him, who enable us to recognize the oneness my creator. We will write a custom essay sample on The Basel Accord or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page I would like to thank Mr. Ziaul Hoque Zia, my university supervisor for guiding me in planning and composing the assignment. He was always available to provide me with his supervision and guidance during the entire course. Therefore, I express colossal appreciation for his aid. From the early hours of the morning to the sunset of the evening they have guided me through various operations of the study and provided me with essential support for my assignment. I pray to Allah that He be merciful to all of these people. Last but not the least thanks goes to my parents for bearing the tension, frustration and all the hard work along with me through the entire MBA program. EXECUTIVE SUMMARY In its depth and scope, Basel is unlike anything the banking business has seen. A combination of micro- and macro-prudential norms, the global regulatory mandate (which rolls out this year through 2018)1 requires banks to increase their quality of capital by focusing on liquidity and common equity; improve supervision of firm-wide risk management; and provide detailed reporting on regulatory capital and the calculation of capital ratios. It mandates adherence to ratios such as liquidity coverage and net stable funding, which are aimed at strengthening banks’ short and long-term liquidity. Most prominently, Basel is transforming risk management into a function that fortifies banks’ sound functioning. These changes will necessitate a fundamental review of each bank’s operating model. Many banks will need to decide which businesses and geographies to focus on and which to exit. Almost all banks will need to invest in technology capabilities to meet Basel III’s stringent data reporting and risk management requirements. While these investments will strain bank balance sheets, they will also create opportunities to extract additional efficiencies from day-to-day operations. Given the pressure on margins, we believe that banks need to go beyond the standard applications of the new technologies. By building strong capabilities in the areas that are the focus of these regulations, banks can differentiate themselves from their competitors. Key imperatives for banks as they prepare for Basel include: †¢ Undertake a fundamental analysis of individual businesses to identify growth drivers. Banks in most G-10 countries have implemented it since the early 1990s. It is now considered largely outdated and is in the process of being replaced by  BASEL II. It is also called Basel I. A set of agreements set by the Basel Committee on Bank Supervision (BCBS), which provides recommendations on banking regulations in regards to capital risk, market risk and operational risk. The purpose of the accords is to ensure that financial institutions have enough capital on account to meet obligations and absorb unexpected losses. Objective of study The primary objectives of the report are to fulfill the academic requirement of a assignment during my study which is required for the completion of MBA degree under BGC Trust University Bangladesh, and to enhance my knowledge base by probing into the details of Basel accord and how risk management sails through the required criteria’s, and how the regulates the industry through Basel. The report goes into explaining the ways of bank allocates its risk management, disclosure of market information and the coordination of Risk Rationality of study The banking industry is the backbone any country. It helps to improve the economic development of the country by advancing the needy and also helps for capital formation, resulting into increasing the employment opportunities. The authors intend to study the various risks faced by the banking industry especially after impact of subprime crisis in 2008over the world economy and its repercussions in the Indian economy. It has been therefore decided to have an in depth knowledge taken by the developed countries after 1988 in the form Basel accord. Methodology of Study For my internship report I have collected data from both the Primary sources and the secondary sources. Primary data: I got the data or information through the following ways- * Directly from the internet and books. * By observing the environmental behavior, facts, record and present condition of the BASEL. * By working in Customer Service and communicating with the clients of the bank from various industries. Secondary data: I have collected the secondary data through annual reports of Bangladesh Bank, market disclosure reports of Bangladesh bank, online newspaper articles from The Daily Star and The Financial Express, various informative websites etc. Statistical methods: Descriptive and graphical methods of calculations have been made for the mathematical representations to prepare this report. Limitation of study I have dedicated my entire efforts to enrich and complete this report although there are some limitations which are as follows: * Basel II is a comparatively newer regulation posed on banks compared to the others regulations from Bangladesh Bank; therefore few employees have sufficient information about it. Basel III has not been yet proposed for implementation by Bangladesh Bank. Bank employees are extremely busy with transactions and other purposed therefore the time that could be managed from was not enough. * Unfortunately due to the Banks limitations (business secrecy and confidentiality), I was unable to acquire sufficient information. * Personal barriers such as inability to understand some official terms, office decorum created a few problems for me. * Time was also a limitation. Gathering such an amount of information by only working for three months was an extremely difficult job. Part-2 An Overview of BASEL The first Basel Accord, known as Basel I, was issued in 1988 and focuses on the capital adequacy of financial institutions. The capital adequacy risk, (the risk that a financial institution will be hurt by an unexpected loss), categorizes the assets of financial institution into five risk categories (0%, 10%, 20%, 50%, 100%). Banks that operate internationally are required to have a risk weight of 8% or less. The second Basel Accord, known as Basel II, is to be fully implemented by 2015. It focuses on three main areas, including minimum capital requirements, supervisory review and market discipline, which are known as the three pillars. The focus of this accord is to strengthen international banking requirements as well as to supervise and enforce these requirements. Basel III is a set of standards and practices created to ensure that international banks maintain adequate capital to sustain themselves during periods of economic strain. Basel III adds further controls to those required by  Basel-II, which in turn was a refinement of Basel I. Bangladesh status Basel II would be implemented from January 2009. In this regard a quantitative impact study (QIS) to assess the preparedness for implementing Basel II as well as the bank’s view on the optional approaches for calculating Minimum Capital Requirement (MCR) as stated in Basel II was carried out in April-May 2007. Study amp; subsequent discussion with few related banks reveal that bankers should be more acquainted with the New Capital Accord (Basel-II). To address this challenge capacity building of concerned implementing amp; supervisory officials should be given first priority in the Action Plan/Roadmap. Basel II may be implemented with the ollowing specific approaches as initial steps: a) Standardized Approach for calculating Risk Weighted Amount (RWA) against Credit Risk supported by External Credit Assessment Institutions (ECAIs) b) Standardized Rule Based Approach against Market Risk and c) Basic Indicator Approach for Operational Risk. From January 1, 2010 Bangladesh Bank instructed all the scheduled banks to follow the instructions regarding Minimum Capital Requirement (MCR), adequate capital and disclosure requirement as stated in the guidelines on Risk Based Capital Adequacy (RBCA) for the purpose of statutory compliance (Rahman, 2012). According to the accord, a banks minimum capital must be TK400 crore by August 11, 2011. Of the amount, Tk 200 crore must be in paid-up capital (Rahman, 2012). On the other hand, the RBCA ratio has to be a minimum 10 percent of assets. BASEL II and BASEL III Implementation by BANK RISK MANAGEMENT following the statutory requirements of BANGLADESH BANK34 The Basel II accord has been prepared on the basis of three pillars: minimum capital requirement, supervisory review process and market discipline. And three types of risks credit risk, market risk and operational risk have to be considered under the minimum capital requirement (Rahman, 2012). Earlier in 2009, Bangladesh Bank allowed commercial banks to raise their capital even by subordinated debt (Rahman, 2012). Under the accord, risk of assets of a bank client must be rated by external credit rating agencies, otherwise provision will be higher at 125 percent instead of 50 percent which is for rated ones (Rahman, 2012). Generally speaking, these rules mean that the greater risk to which the bank is exposed, the greater the amount of capital the bank needs to hold to safeguard its solvency and overall economic stability (Wikipedia, 2012). Part-3 Major Findings of Analysis 1. Key risks There are many banking risks. Most common approach is to group banking risks to credit risk, liquidity risk, market risk and operational risk. Credit risk Credit risk is described as the risk to have losses because counterparty is not capable to carry out its obligations according to the terms of the agreement. Sometimes losses occur even when the counterparty does not breach the contract, but there are certain signs showing increasing probability of borrower’s insolvency (e. g. downgrade in credit ratings of the borrower). Credit risk is one of the key risks for the banks as failure to properly evaluate it may lead to insolvency and bankruptcy. Aggregated stress testing of Lithuanian banks results of the yr. 2002 showed that banks consider credit risk to be the most important risk, constituting over 62% of possible losses [6]. Basel II suggests 3 alternative approaches for credit risk management – Standard approach, Foundation Internal Ratings Based (F-IRB) approach and Advanced Internal Ratings Based (A-IRB) approach. Using standard approach, capital coverage is calculated by applying certain risk weights to certain balance sheet items. Internal ratings based approaches calculated capital coverage as function of PD (probability of default), LGD (loss given default), EAD (exposure at default) and M (maturity). The difference between F-IRB and AIRB is that under F-IRB approach banks rely on more supervisory estimates than under A-IRB approach [3]. Besides alternative approaches for capital coverage calculation, classic credit risk management tools such as limit systems, credit scoring procedures, loan assessment procedures, risk diversification rules, etc. are necessary to use to keep credit risk as low as possible. Liquidity risk Liquidity risk is also risk of key importance to commercial banks as failure to properly manage this risk may result in insolvency of the bank. Liquidity risk involves the possibility that earnings or capital will be negatively affected by an institution’s inability to meet its obligations when they come due. Liquidity risk is the risk that the financial institution cannot settle an obligation for full value when it is due (even if it may be able to settle at some unspecified time in the future). Liquidity problems can result in opportunity costs, defaults in other obligations, or costs associated with obtaining the funds from some other source for some period of time [7]. In most cases, liquidity risk is the outcome of other risks such as credit, strategic, reputation, interest rate and counterparty risk. For instance, when important large customer becomes default, bank may have difficulties in meeting its obligations. Additionally, liquidity risk comes in the normal course of business, usually as long-term assets are financed by short-term obligations. Liquidity risk is managed by analysing liquidity gaps (simple and marginal), using cash matching approach by setting limits for absolute or relative liquidity gaps, making projections of future cash flows, scenario testing. Value-at-risk (VaR) techniques using statistical data may be used for these purposes. Market risk Market risk is the risk of adverse deviations in price of financial items (equities, bonds, FX deals, derivatives, etc. Market risk includes currency risk, interest rate risk, equity or debt security price risk etc. market risk may result both in positive and negative effects. In capital charge calculation, only the negative effects are taken into account. Main goal in market risk management is to reliably estimate likely price fluctuations and to take decision whether to take the risk or to reduce it. Limit systems, gap analysis, correlation analysis, instrument sensitivity analysis, market volatility analysis can be used for market risk management. The risk can be reduces by portfolio diversification or hedging using derivative financial instruments (swaps, forwards, options, etc. ). Market risk can be measured by using risk weights or by using value-at-risk approaches. It’s important to note that in order to reach best risk management results, VaR-based approaches should be used in combination with other risk management methods as VaR models rely on certain assumptions, not every time equilibrium between the accuracy and operativity is reached, output on the same data using different VaR models may vary substantially. Operational risk The definition of operational risk varies considerably since the list of factors causing operational risk is incomplete and constantly growing due to increasing complexity of business. Basel Committee on Banking Supervision defines operational risk as the risk of direct or indirect loss resulting from inadequate or failed internal processes, people, and systems, or from external events [1]. Risk may actualise in technical level (IT system or risk measurement system inefficiency) or in organizational level (lack of procedures, non-adequate organization of risk monitoring and reporting) [4]. Basel Committee on Banking Supervision considers operational risk to be of high importance, that’s why Basel II demands capital charge calculation for operational risk. Stress testing of Lithuanian banks in 2002 showed that Lithuanian banks consider that losses from operational risk would make 5% of all the losses [6]. Quantitative Impact Study 3 (QIS 3) calculation shows that operational risk capital charges increase regulatory capital by 5-15% [2]. As it is impossible to name all the risks, it is suggested to determine factors causing operational risk. After that the following algorithm can be used in determining whether to ignore the risk factor, or to take action. After meticulously probing through the Annual the Bangladesh Banks â€Å"Guidelines on Risk based Capital Adequacy (Revised regulatory capital Framework for banks)†, I found that it is a very complex set of instructions and mathematical terms which demands a separate department in the bank for its integration purpose. And the instructions are very hard to understand about the global standard regulatory policy or the whole banking industry. Basel II has been made mandatory for all the scheduled banks in Bangladesh since January 2010. Bank Asia Ltd has been maintaining a healthy CAR ratio all throughout the 2011 fiscal year. The problems in the implementation of the requirements have to be mitigated as soon as possible. The data collected from all the branches and the corporate office should be centralized for further accurate results. One of the most frequent reports related to Basel II is Stress Test. A report of such importance loses value when it is submitted so soon after the previous one because three month’s time is a small window to see material change in the variables. Even the variables are tested with unrealistic shocks keeping other variables constant. There are three types of shocks- minor, moderate and major. A combined shock should be applied to see realistic result of the bank’s sustainability rather than applying an extreme shock with keeping all other things constant. So stress test should be a â€Å"scenario analysis† rather than a â€Å"what if Analysis†. It will become very complex but very realistic than current stress test measure. the Capital Adequacy Ratio (CAR) of Bank Asia reached- 14. 2% on actual capital which is greater than the ratio of 8. 11% of the year ended 2010. The second Basel Accord, Basel II, supplemented the original agreement by setting new minimal capital requirements, again based on risk profiling, but also introducing two new pillars: supervisory review and market discipline. Basel II was very short-lived in relation to its predecessor as it was promulgated during the onset of the global financial crisis. In response to a number of failings in Basel II, which came to light during the crisis, a further modification, Basel III, was initiated in 2010. Conservative Risk Management is the hallmark of the Basel II framework for mobilizing financial stability across banking sectors worldwide (BCBS, 2006). This framework built on the basic premise of capital management as suggested by Basel I in 1988, but provided improved parameters, reflecting a clearer formulation of risks facing the banking sector and a mechanism for protecting banks against risk in a more methodical and scientific manner. The Basel Accord re-engineered the organizational structures and processes of the supervisors and the banking sectors all around the world. The key to the effective and improved risk management under the Accord is its proper implementation (AIF: Disclosure Subcommittee,2004). Accordingly, in order to have effective implementation around the world, co-operation between global supervisors and the respective institutions plays a pivotal role (Global Risk Regulator, 2005). The primary purpose of the Basel Accord is therefore to promulgate the three pillars of Basel II by rationalizing banks’ risk appetite according to their residual resources, thus forming the basis of a sound banking structure. In Bangladesh banks are regulated by the Banking Supervision Department of the State Bank of Bangladesh. It has set-up a road map for the implementation of Basel Accord which attempts to comply with Basel Accord Implementation guidelines issued by the BCBS. With the growth of international banking and the entrance of multinational banks into Bangladesh’s Banking Sector the diversity of the domestic Banking Sector has increased. This has also increased the public availability of banking services matching international standards. These developments have changed the nature of the risks facing the Bangladeshi banking system – risks that the very promulgation of the Basel Accord was intended to address. The multi-layered structure of the Basel Accord and different levels of adoption around the world – creates further confusion. In Pakistan, it was originally intended that the Basel Accord would be implemented in full before December 31st 2009. However, the State Bank of Bangladesh extended the dates for implementation for various special circumstances that the Bangladeshi Banking Sector faces. The fact that Bangladesh’s implementation of the Basel Accord lags behind that of other countries is also significant (see Section 3). There is thus a need to investigate the reasons behind this from a local perspective, over and above the international reasons stemming from the international banking crisis. In this regard research needs to be undertaken focusing upon the following issues: ? Compliance to the timetable introduced by the Supervisory Authorities; ? Problems faced by both the State Bank of Pakistan and individual banks; ? The present and proposed infrastructure available with the Basel Accord for smooth and successful implementation; ? HR capabilities; ? The impact the Basel Accord has upon bank exposures to credit, market and operational risks. 4 This paper will explore various aspects of Basel Accord Implementation in Pakistan, thus clarifying the inability of Pakistani Banks to adopt the advanced techniques in the Accord. Previous studies have looked at the impact of implementation of the Basel Accord in a number of different countries including the United States, Brazil, Switzerland, India, Lebanon and South Africa (Jacobsohn, 2004;Cumming and Nel, 2005). However, no such study has yet been conducted in Pakistan. Further, most of these studies were conducted prior to the introduction of the Second Accord. It is therefore of interest to undertake a fresh study into the implementation of the Basel II Accord in Pakistan, both due to the timing (after Basel II and following the recent financial crisis and the subsequent commencement of Basel III) and due to the unique set of circumstances facing the Pakistan banking sector following its recent expansion. The layout of this paper is as follows. Given the potential impacts on corporate governance, financial analytics, business processes and data management, the implementation of Basel III may well represent the most significant series of steps and challenges in these endeavors. The success of risk management organizations in meeting these challenges will be evidenced by the creation of data-rich environments able to support financial modeling, stress-testing, analytics, and reporting, which in turn will lead to a level of transparency that enables markets to assess risk management profiles and capabilities and, ultimately, capital adequacy. The implementation of both Basel II and Basel III requirements should not be seen only as a regulatory milestone to be addressed on a stand-alone basis within the organization. The key benefits for the overall banking system as well as for each individual bank come from integrating risk management practices with an organization’s day-to-day business and strategy, resulting in better financial health for all. Companies that have most successfully managed their businesses have given the risk function a more central role in the organization. However, this centralized view of risk should not imply that risk management will have a limiting effect on business development; rather, it implies that every decision must take into consideration the risk perspective and integrate it with a new, global performance management view to optimize business opportunities that carry an inherent risk. The road to achieve a more mature risk-management model is a long one. However, our experience shows that successfully implementing a well-defined risk management strategy will increase the likelihood of a well-structured implementation of a Basel Program.

The Greek Gods essays

The Greek Gods essays Zeus was the god of the sky and his weapon was the thunderbolt. His sisters where Hera, Demeter, and Hestia his brothers where Hades, and Poseidon. His symbols are the eagle and the oak tree. He married Hera but had many affairs. Hera was goddess of gods. She rebelled against Zeus. Hera tied up Zeus and had his thunderbolt stolen. Zeus hung Hera from the sky with golden chains. Her brothers and sisters are the same as Zeus are. Athene was goddess of wisdom and strategy. Athenes mother was a Titaness by the name of metis, and Zeus was her father. In his fear of being overthrown by a boy Zeus swallowed metis. Athene was born from Zeus head making her the goddess of wisdom and military strategy. Athene was a kalous goddess. Poseidon was god of the sea and his weapon was a trident. Zeus, Hades, and Poseidon rolled dice to see how gets which area. Zeus won so he chose the sky Poseidon chose the sea and Hades was always unlucky so he got the under world. Poseidon thought the sea was full of adventures and things. Hades was the god of the under world and his layer was graded by a giant three headed dog. He married Demeters daughter for a while. Hades was always unlucky and he got the under world when he rolled dice. Demeter was goddess of growing things and harvestings. Zeus gave her a daughter and son. Her daughter was in charge of naming plants. One day she was in the woods farther than she as ever gone be for. She saw bush she didnt like so she poled it up and Hades come out and toke her down to the under world. Demeter complained to Zeus and told him nothing would grow if their daughter didnt come back. Nothing grow in tell her daughter came back. Artemis was the goddess of the moon her weapon a silver bow with silver arrows. She had a twin brother named Apollo their mom was Leto. She wanted so many gifts that Zeu ...

WritingAssignment Essay Example | Topics and Well Written Essays - 500 words - 1

WritingAssignment - Essay Example Lastly, it would enhance responsibility among artists. After all their art works are not covered by public funds. Therefore, this paper will expound on why public money should not be used to help pay for art that some taxpayers believe to be offensive and indecent. To begin with, it is an insult to the public when their funds are misappropriated. People who do not subscribe to obscenities and artworks that insult their faith may protest against the inappropriate use of their money. Case in point is the protests by American Family Association against National Endowment for the Arts (NEA) for wrong use of their money in the artwork display. The art work was a painting by Serrano named ‘Piss Christ’ to which American Family Association found distasteful. They described it as obscene, hate-filled, anti-Christ and bigoted. They wrote protest letters to the Congress and NEA showing their displeasure in use of their money (Stokstad and Cothren). In essence, it was an insult to them. Secondly, there is need for observation of general standards of decency as well as respect for the diverse views of the American population. America is a large country with a population that subscribes to diverse beliefs and views. The whole population pays taxes regardless of its diverse nature. Consequently, respect of that diversity is paramount. Artworks that display mockery of other faiths, special population groups should not be funded by public money to which the population groups contributed. Case in point is Chris Ofili’s drawing of ‘The Holy Virgin Mary’ displayed at the Brooklyn Museum of Art which angered Mayor Rudolph Giuliani and Catholic leaders. Giuliani considered the art sick and disgusting as well as promoting religious intolerance (Stokstad and Cothren). In view of this, art works should respect the diverse views and religious standings of the citizens. Using taxpayer s money

Skills Essay Example | Topics and Well Written Essays - 500 words

Skills - Essay Example It is preferable for the care giver to have the woman’s prenatal record when speaking to the woman during the admission process. This stage involves checking whether the labor experienced by the woman is false or true. If the labor is true the woman has to be admitted. Various factors are assessed in order to identify true labor (London & Old, 2008). They include intervals and intensity of the labor contractions, the dilation of cervix and the fetus conditions. The other assessment at this stage includes conducting a diagnosis test to find more information about the woman’s health status. Apart from assessing the labor status and the health conditions of the women, other factors such as psychosocial and cultural factors are also assesses at this stage. If the labor is true and the woman’s health condition is not good, it may result into maternal death, the woman will not give birth normally. Other strategies such as caesarean will be used (London & Old, 2008). During the second stage, care givers assess things such as the fetal status which include its position and heart rate. This stage also involves assessment of cervical dilation. Stage two usually starts when the cervix has dilated to 10 centimeters. The contraction of the uterine wall will also be assessed. A normal contraction at this stage should last for about 45 to 90 seconds. The position and the visibility of the baby will also be assessed at this stage. The behaviors of the woman are also assessed at this stage. For instance behaviors such as the urge to push are usually assessed (London & Old, 2008). I realized that nurses play a vital role during the labor stages. They give both physical and emotional support to the woman and her family in the entire process (London & Old, 2008). For instance, during the admission stage they usually help in assessing the risk factors and the

Manifest Destiny & Frederick Jackson Turners frontier thesis Essay

Manifest Destiny & Frederick Jackson Turners frontier thesis - Essay Example On the other hand, the Frontier Thesis as released by Frederick Jackson Turner in 1893 asserted that American development was explicated by the existence of a free land, its constant recession, as well as westward advancement of the American settlement (Turner 56). This concept was said to depend on Darwinism concept of survival for the fittest, where primitive political and economic conditions of the frontier shad to evolve into complex city life. Frederick Turner’s American identity epitomizes Manifest Destiny from the perspective of Anglo-Americans. This is attributed to the fact that Turner describes Americans as strong in individualism and selfishness, with nervous energy, coarseness and strength, and inherent expansive power. In his research, Turner established that the selfish and individual qualities characteristic of Anglo-Americans forced them to push westward; thus, claiming land and expanding democracy. The terms are extremely important in the US history. This is attributed to the fact that they give historians apparatuses that facilitate the using of social history as the basis for all economic, social and economic developments in the American history. Additionally, they give guidelines on the path American democracy has followed in its creation and

Employee Relations In Human Resources Management Commerce Essay

Employee Relations In Human Resources Management Commerce Essay In general, employee relation is very important part of human resource management and employees is the heart of any organization. Mainly, employee relation known as from Employees are the resource of the organization and they are act as the companys creator to make successful in the competitive business world. On the other hand demotivated people become the tragedy for the company. According to Banfield and Kay (2008), Demotivated employees have an impact on the organization, but in different and more negative ways, This can include individual and less visible expressions of dissatisfaction, such as high absenteeism, poor timekeeping and low productivity, as well as collective action such as strikes and working to rule, all of which undermine the organizations ability to ensure its financial health and long-term competitiveness. In the words of Armstrong (2006), the components of employee relations as follow: Formal and informal policies and practices of the organisation. The development, negotiation and application of formal systems, rules and procedures for collective bargaining, handling disputes and regulating employment. Policies and practices for employee communications. Informal and formal process regulating the interactions between managers and employees. Policies of the government, management and trade unions. A number of parties including state, management, organisations, trade unions, employees, etc. The legal framework. Institutions (e.g. ACAS) and the employment tribunals. The bargaining structures, recognition and procedural agreements enabling the formal system to operate. Setting an employment relations policy requires work under a number of headings as suggested by From the above component, it is clear that principle of management, employer-employee relation, terms and condition, companys recruitment, training, performance appraisal and procedures are main factors for an organization to make sure the employee relations. In the employee relation, collective bargaining is very important in modern business world. The following figure shows the exact procedure of employee- employer relation through collective bargaining. Figure Reconciliation of interests between employers and employees Source: Resource Development International Ltd. (RDI), 2009 Originally, the employee relation known as an industrial relation. According to Armstrong (1994), industrial relations are conducted within the external context of the national Political environment, the international context and the internal context of the organisation. On the other hand, Collective bargaining is defined as the process of turning disagreements into agreements in an orderly fashion. Collective bargaining is the process followed to establish a mutually agreed set of rules and decisions between unions and employers for matters relating to employment. This is a regulating process dealing with the regulation of management and conditions of employment. Collective bargaining is used as the negotiation process between employees and employers with unions acting as the representatives of employees. Task b: What may McDonalds have considered in order to establish their approaches to collective bargaining in both Germany and the UK? According to Allan, C and et al (2006), Fast food is an important area of employment particularly for young people. McDonalds, the largest restaurant chain, has more than 30,000 restaurants around the world. A large proportion of its employees are young people. There is an international debate about the quality of jobs in fast food. McDonalds is the top brand name in the world and in the research work of Royle, T (1999), discuss about the fast food industries labour relation by referencing the McDonalds. McDonalds not only the world largest MNC but also the leading the sales system and growing up the employee relation. McDonalds follows the limited menus and highly standardized product and proper utilization of low skilled labour by proper training and guideline. UK is always following the US developing system from Second World War. They tried to develop the economic system like US, though as a part of Europe. At the beginning of 1980s, in UK there was rapidly de-industrializing because of rapid growing up of service sector like United State and becoming the real life British features. On the basis of that development they tried to follow American HRM system. According to Royle, T (2002), Until the 1980, the regulation of UK union activities had been minimal and they enjoyed reasonable statutory immunity from the strictures of common law, a system applies described as collective laissez fire. He also discuss about employee relation in Germany compare to UK employee relation. Compared with the UK industrial relations systems, the German system is more organized. German system is totally different from UK and the German system is highly justified and represents a clear structure of rights and responsibilities for both management and employees. Collective bargaining is normally carried out at advanced level of management and link between employers federation and trade union. McDonalds is not interested operating any trade union in their company. They are trying to mutual through their management. The main reason behind this is, the employees are part-time, temporary, low skilled. The company giving the facility and training-up as they need. If they got any problem, they solve by in-store management. There was problem with that employees are staying longer and majority of the employees are under 21. So, it is so quite impossible to involve with union and carryout the union fees. According to collecting bargaining approaches there are two forms of collective bargaining, conjunctive bargaining and cooperative bargaining. Conjunctive bargaining: This form of bargaining requires an agreement so operations to which both parties are dependent can continue. The agreement defines certain responsibilities for each party. Cooperative bargaining: This form of bargaining recognises that both parties are dependent on each other and it is in their best interest to obtain the support of each other. There are also two views on the relationship of management with trade unions, the unitary view and the pluralist view. Unitary view: According to this view, management regards its function as directing and controlling the workforce in order to achieve growth. Pluralist view: This view sees the organisation and its workforce as two forces in balance with mutual trust for their respected relationship supporting their efforts towards different objectives. In general, on basis of those above forms, McDonalds is mainly is not operating proper trade union relation. Both UK and Germany, they are operating their business by franchisee and more profit is coming from them. If their employees feel any problem, they negotiate with the employee by the management. They are not interested to involve with the trade union. But, the franchisee company, for their safety they are keeping small room for the union. Task b: How may McDonalds have considered individual bargaining as an alternative or additional approach in both Germany and the UK? What benefits and/or problems may this have brought in both countries? In employee relation collective bargaining is very important. According to Armstrong, for managing collective bargaining it should be consider the following factors Collective arrangements which may be practical (the framework) or basic (the outcome) of collective bargaining. The level at which bargaining should take place these days multi-employer bargaining is not common. Single-table bargaining where a number of unions are recognised in one workplace seems the most favourable option for organisations. Dispute resolution typically involving third parties as mediators. To follow the collective bargaining, there should be some mutual agreement and if there any problem with the agreement, they can make solution by procedure. Procedural agreements In these agreements the responsibilities of managers and employees are defined as well as the Procedure followed to make decisions. Definition of the agreement objectives Recognition of the unions negotiation rights General principles Statement of facilities granted to unions Provision for joint negotiation committees Negotiating procedure Provision for terminating the agreement Substantive agreements: These are not legally enforceable and focus on agreed terms regarding pay, working hours, holidays, overtime, regulations, etc. Partnership agreements: In partnership agreement both parties agree to work together for their mutual advantage. Reilly defines the common features of partnership as: a. Mutuality parties recognise common interest. b. Plurality areas of differences and common interest are recognised. c. Trust and respect for the intention d. Agreement without coercion solving problems through consensus. e. Involvement and voice opportunities for employees to shape their environment and express their views. f. Individualist and collectivist dimensions of the other side. Individual bargaining: It refers to the participation of single bargaining units. Organisations prefer these, due to: Inefficiency of multi-unit bargaining. Desire to achieve major changes. Necessity to introduce single status conditions. In individual collective bargaining some critical issues include: Commitment of management to the concept. Maintain negotiation levels. Ensure that managers will have flexibility when responding to employee demands. Willingness of management to discuss with representatives. The need to overcome previous rivalries. The need to guarantee representation rights to unions. Third party dispute resolution: There are three such processes: Conciliation third party facilitates the process to reach a decision. Arbitration issue is determined by the third party. Mediation providing formal but non-binding proposals. By seeing the all kind of collective bargaining, the individual collective bargaining looks very appropriate for the McDonalds in both Germany and UK and it is very helpful for considering as an alternative approach. Because of economic changes, deindustrialization and political factors are led to union to decline industrial relation. Also the both country, McDonalds is leading company and important for the economy. In the time individual bargaining become very popular for the small business and for McDonalds, especially when its coming under franchisee. There are so many benefits and problems are by following the individual bargaining in UK and Germany. The benefits are as follows: To meet the employees requirements Its giving the individual solution of the employee It contains the low administrative cost It giving the flexibility of employer-employee relation There are some problems with the individual bargaining. It increase the high dismissal rates, accidents and high labour turn-over and so on.This approach sometimes cannot fulfil the requirement of the employee. In time of negotiation it can be problem. The employee cannot individually bargain with all times with the employers for their wages and other facilities. Task c: How may the approach to collective bargaining in Germany and the UK influence employee relations for McDonalds internationally? At present global business world, McDonalds is dominating the fast food industry. The company in both UK and Germany dont prefer to the trade union. They are making the employee relation by their internal management system. Actually this is individual bargaining system. To recover this system is the best approaches for a company. In UK and Germany, the fast food industry are expanding rapidly and making good example for employment in the competitive business world. The unique feature of the chained fast-food sector is a combination of generally low skilled work and high labour turnover, combined with what we have termed elsewhere an acquiescent workforce. (Royle, 2000) In general in McDonalds corporation is not interested in unionization and there is no great success of trade union. In UK and Germany, there is some problem with non-union activity. The management company fast food company remain strongly grounded in anti-unionism. But to what extent are these assumptions transmitted and internalized by senior-level and restaurant management at McDonalds? (Royle, 2000) The employee relation is influence by the collective bargaining but this maintaining with the trade union not only in UK and Germany but also all over the world. From above the discussion for the following reason the approach like collective bargaining in Germany and the UK influence employee relations for McDonalds internationally: Employee relations are regarded as better. Strikes are rare. Labour turnover is high. Payment levels are set by management. Higher dispersion of pay. No alternative representation methods exist. Employee relations are handled informally. Managers feel free. More flexibility to use labour. Higher dismissal probability Though there is some problem in the approach collective bargaining, but the in all over the world make a history for employee relation. Their employees are almost 90 per cent are student, under 21 and unskilled but they are doing good business by their proper strategic plan and create great employee relation. So, in this way collective bargaining is very influencing for employee relation. Task d: What additional or alternative methods could support good employee relations for McDonalds? Consider the role an HR function could take. For a good employee relations in McDonalds, there are some methods are very useful. In general, McDonalds is practicing the individual bargaining. In the research work of Dau-Schmidt (1993) stated that among the three primary means of addressing the needs of workersindividual bargaining, collective bargaining and protective legislationeach have its own advantages and disadvantages. Individual bargaining can provide the most individualized solution of meeting the needs of the parties. It also enjoys relatively low administrative costs. Unfortunately, market failures and lack of bargaining power mean that individual bargaining often results in an impoverished solution for many workers that fails to address many of their basic needs. Before making the decision of right choice of additional methods, it is better to know about the HR function properly. The HR function contains the advice and services that enable organisations to get things done through people there are some listed a number of typical HR management tasks. Human resource planning. Talent management Knowledge management Recruitment and selection Learning and development Reward management Employee relation Health and safety Diversity issues On the basis of HR function and as a part of HR practice of employee relation in McDonalds collective bargaining doing the solution which is created by the individual solution. Collective bargaining is solving the problem created by the individualization and creating employee need, which is addressing the employee relation and there are some problem with this approach. In this time, protective legislation provide the at least one employee needs which is very helpful for employee relation. In overall McDonalds trying to practice of mixed culture of individual bargaining, collective bargaining and protective legislation. By considering overall discussion, the changes in HR function can be developing the good employee relations which are as follows: à ¢Ã¢â€š ¬Ã‚ ¢ Employees see the reason for change for a good employee relation. à ¢Ã¢â€š ¬Ã‚ ¢ Employees understand why change is important for employee relation and see how it will help them and the business in the long and short term. à ¢Ã¢â€š ¬Ã‚ ¢ The people who need to be committed to the change to make it happen are recognised. à ¢Ã¢â€š ¬Ã‚ ¢ A coalition of support is built for change and creates a good employee relation. à ¢Ã¢â€š ¬Ã‚ ¢ The support of key individuals in the organisation is enlisted that is a good example of employee relation. à ¢Ã¢â€š ¬Ã‚ ¢ The link between the change and other HR systems such as staffing, training, appraisal, rewards, structure and communication is understood. à ¢Ã¢â€š ¬Ã‚ ¢ The systems implications of the change are recognised. à ¢Ã¢â€š ¬Ã‚ ¢ A means of measuring the success of change is identified for the successful employee relation. à ¢Ã¢â€š ¬Ã‚ ¢ Plans are made to monitor progress of employee relation in the implementation of change. à ¢Ã¢â€š ¬Ã‚ ¢ The first steps in getting change started are recognised. à ¢Ã¢â€š ¬Ã‚ ¢ Plans are made to keep attention focused on the change. à ¢Ã¢â€š ¬Ã‚ ¢ The likely need to adapt the change over time is recognised and plans can readily be made and implemented for such adaptations. Task e: Conclude by taking the key elements of your observations in steps a-d regarding McDonalds approach to employee relations in order to make a short recommendation for similar countries or organisations with regard to developing and/or improving their employee relations. From the above discussion, it is clear that McDonalds can operate most of the area independently in employee relation. After long time, McDonalds started the collective bargaining with the union in Germany. But, in UK, they dont like to operate the collective bargaining with union. Because, the change in the method was improving their corporate image. In that time McDonalds follows the pluralist principles though they are resisting of union at restaurants level. McDonalds leading the MNCs in the world and they are successfully handled the corporate level work council and they established it in a small number of restaurants. After that, by this system the unemployment increased and they are confused with their system. However, the adaptability of the system may be a double-edged sword for workers. On the hand it provides workers with rights to representation, but on the other hand its flexibility may in part be dependent on undermining workers terms and condition. (Royale and Tower, 2002) Royle (2000) said that, on the basis of German collective bargaining system which is represent the other countries in the Europe as well. As a MNC company McDonalds is likely to adopt the non-union strategies. As for McDonalds, looks like to continue to dominate and set the agenda for the fast-food sector in the short and medium term. In the meantime, they drive for more efficiencies and more standardized procedures looks set to continue, placing pay and conditions under increasing pressure. In this time they tried to utilize a new approach like individual bargaining and tried improve employee relation between employee and management. They also tried to try some changes in the HR function to improvise the employee relation strategies. By taking the different step for developing the employee relation like UK and Germany, other countries McDonalds corporate body and similar organization can follow their strategies. The other fact is that, which procedure a company following, there should be good negotiation with the employee and then the employee relation will be good. For any bargaining there should be the some steps like- Setting the objectives, define the strategic plan and assembling data Opening Bargaining Closing Like UK and Germany, other country follows the above procedure that will be good for making a good employee relation. Besides that they should keep in mind the following things for developing their employee relation. The bargaining process is used in the hope of coming to a settlement. Legitimate tactics during negotiations should not shake the basic belief in each others integrity. Off the record discussions are mutually beneficial. Both sides should be prepared to move from their original positions. A series of offers and counter offers should be expected. Concessions cannot be withdrawn. Conditional offers, unlike firm offers can be withdrawn. Third parties should not be involved while there is still chance for agreement. The final agreement should be clear and accurate Besides the above factors to build up a good employee relation there should be skilled negotiation and bargaining management. Bargaining skills: Bargaining skills are as follows: Sense what the opposition wants to achieve. Being able to withhold own objectives. Flexible realism seeking a reasonable settlement. Respect for the opposition views. Sensitivity for mood changes. Negotiating skills: Negotiating skills are as follows: Analytical ability assessing factors affecting the negotiation process. Empathy being able to view the situation from the oppositions perspective. Planning ability developing and implementing a strategy. Interactive skills relating with other people. Communicating skills convey information and arguments. From all of the discussion, it can be said that for good employee relation the management strategies and all the development should go through in a right way.

Galileo Galilei :: essays research papers

Galileo was an Italian mathematician, astronomer, and physicist. He was born in Pisa, Italy on February 15, 1564. In the mid 1570’s, he and his family moved to Florence and he started his formal education in a local monastery. He was sent to the University of Pisa in 1581. While there, he studied medicine and the philosophy of Aristotle until 1585. During these years at the university, he realized that he never really had any interest in medicine but that he had a talent for math. It was in 1585 that he convinced his father to let him leave the university and come home to Florence. Back in Florence, he spent his time as a tutor and began to doubt the Aristotle’s philosophy. In 1589, he was made professor of mathematics at the University of Pisa where he attended school. His position also required him to teach astronomy based on Ptolemy’s theory that all planets and the sun revolved around the earth. In 1592, he left the University of Pisa and went to the University of Padua to become professor of mathematics. During his time there, he constructed a clumsy thermometer which would have work if he had taken into consideration atmospheric pressure but it still has a significance in history as being one of the first measuring instruments in science. He taught he for 18 years and during that time, became convinced that there was truth in the theory of Nicolaus Copernicus a Polish astronomer who believed that all planets including earth revolved around the sun. While still at Padua, in 1609, he built the first astronomical telescope. When he used it to look at the sky, he easily found that most of Aristotle’s and Ptolemy’s theories were wrong. His most important discovery was when he discovered the four moons of Jupiter in 1610. Later that year Cosimo de Medici, Grand Duke of Tuscany, named Galileo his personal mathematician. This brought him back to Florence once again here he continued his studies in astronomy. Galileo also studied motion, especially that of freely falling objects. While watching swinging lamps in church one day, he noticed that it takes the same time between swings no matter how big or small the arc is. This observation led to his invention of the pendulum clock. He also discovered, before Newton, that two objects of different weights fell at the same speed.

Hudson’s Bay Company and IBM

Machines and servers are used all over businesses, however it depends on which activity the servers are used for that determines if the server will be beneficial. Each of the 3 servers are used differently and are uniquely designed to assist virtual servers. Full- fertilization has the help of the hypothesis in which divides and keeps each server independent. By keeping the servers independent, resources are not being wasted. This particular server will function correctly without knowing Its running fertilization alone.Still hypocrisies needs help due to the fact that It does so much for the physical servers. Para-fertilization Is a little different because the servers don't have to depend solely on the hypothesis. Para-visualization allows the system's to all work together as an entity so nothing Is working harder than another. SO- level fertilization Is much different than the other 2 virtual servers because the hypothesis Isn't needed at all for stability. Valuations ability teams with SO to perform all of the tasks that hypothesis would yet It's still secluded unlike the other reverse.Now, by doing so the guest servers must all run solely on the so. Hudson Bay Company as well as IBM both bring in numerous amounts of business and fertilization can assist with performing some of the daily tasks. With all of the information and data, optimization can help smooth out some of the tasks. Another reason would be the cost of sources, technology is being used heavily which means it's becoming more and more expensive. Partnering with IBM will save Hudson Bay Company lots of money but mostly energy.Hudson Bay Company is growing rapidly and will be using more power and energy. IBM is very beneficial to Hudson Bay due to their creation of higher/faster speed which requires less servers for companies. The HOB blade has more than one talent, it allows multiple drivers for backup In case of emergencies. HOB plays a huge part in correcting errors and preventing direct softw are problems. The collaboration is beneficial to both companies in which both are becoming more modernized and useful in the land of information technology.

Drugs and Behaviour essays

Drugs and Behaviour essays 1. a) The use of all natural products has become a new revolution in our society. More and more people are looking for alternative treatments and even preventative therapy to keep themselves healthy. Unlike traditional drugs and medication that face rigorous testing by the FDA (in the U.S.A), all natural products do not. This is because the 1994 Dietary Supplement Health and Education said that products that were labeled as dietary supplements could enter the consumer market untested. This lack of testing on these supplements makes them even that much more dangerous because no one knows what the effects of them are in terms of interactions with other supplements, overdosing and mixing with other pharmaceutical drugs. When consumers see the term all-natural, our eyes light up because we think that were getting something that is safer. The truth of the matter is that just because something is all-natural, doesnt make it safer. b.) A lot of supplements contain somewhat of the same active ingredients as drugs. Evidence also suggests that one or more ingredients in St. Johns Wart contain pharmacologically properties similar to that of drugs. From a legal standpoint however, these all-natural dietary supplements are not considered drugs. This is because of legal issues and legislation that was discussed in question 1 (a). The FDA in the U.S cannot regulate dietary supplements as drugs, and the U.S Drug Enforcement Administration (DEA) cannot enforce any pertinent laws toward these dietary supplements. So therefore these all-natural dietary supplements are not drugs. c.) There is a big difference between drugs and medicine. First let me start off by saying that the practice of medicine is the science of diagnosing, treating, or preventing disease and other damage to the body or mind. Medication or medicine as its routinely called is an agent, such as a drug, used to treat disease or injury. Medicine is usual ...

Breath Right Essays

Breath Right Essays Breath Right Essay Breath Right Essay When we foremost began marketing this merchandise. what was so sweet. peculiarly as a doctor were the literally 1000s of letters and phone calls we would have speaking about how much better people slept at dark. Almost all the letters began with thank you. thank you. thank you! Just three thank you’s. It was. I haven’t acquire a good night’s slumber like this in 10 old ages. What is Dr. Dan Cohen. CEO of CNS. Inc. . speaking about? Its Breathe Right ® rhinal strips. the advanced adhesive tablet with a little spring inside that. when attached to the olfactory organ. pulls the nasal passages unfastened and makes it easier to take a breath. Since its debut in the United States. Breathe Right strips have been coveted by jocks trusting to better their public presentation through increased O flow. snorers ( and more frequently. snorers’ partners ) trusting for a sound night’s slumber. and allergy and cold sick persons looking for alleviation for their stuffed olfactory organs. The Breathe Right ® strip was invented by Bruce Johnson. who suffered from chronic rhinal congestion. At times he would set straws or paper cartridge holders up his olfactory organ at dark to maintain his nasal passages unfastened. After puttering in his workshop for old ages. he came up with a paradigm design for the Breath Right ® strip. He brought the paradigm to CNS. which was in the slumber upsets diagnostic equipment concern at the clip. Dr. Cohen knew immediately the market for the strips would be immense. After the merchandises received Food and Drug Administration ( FDA ) blessing and became successful in the market CNS divested its other involvements and went to work marketing the strips full clip. Bing a little company. CNS did non hold the budget to establish a large-scale selling run. But it got the interruption it needed when Jerry Rice. the broad receiving system for the San Francisco 49ers won the 1995 Superbowl. The full state became cognizant of the merchandise overnight. and demand for the strips increased dramatically. An indicant of this national consciousness was treatment on Television talk shows and even visual aspects of the strip in sketchs. The jobs that the Breath Right ® strip solves – saw wooding. congestion – are non alone to the US population. Besides. with the media being so planetary today. people around the universe were seeing US jocks have oning the strip and inquiring how they could acquire their olfactory organs on some. CNS decided to take Breath Right ® international. But because it was still a comparatively little company and had no experience in the planetary market topographic point. it opted to take on a distribution spouse that had extended planetary mercantile establishments already in topographic point every bit good as the ability to market the merchandise abroad. 3M. shapers of such merchandises as Post-It notes and the leader in stick-to-skin merchandises around the universe became the international distributer for Breath Right ® strips. David Reynolds-Gooch. International Business Manager at 3M. explains that the strips tantrum in good with 3M’s bing adhesive line of first-aid merchandises and are sold in channels with which 3M has extended purchase: pharmaceuticss. hypermarkets and nutrient markets. 3M agreed to take control of all the selling and communicating duties in add-on to the distribution in return for a per centum of the gross revenues gross of the strips. The strips are co-branded in the international markets. The bundles say both Breath Right ® and 3M. 3M introduced the Breath Right ® strip in Japan. and so it was rolled out in Europe. and now can be found in more than 40 states from Australia to South America. 3M used a similar attack to that used by CNS in the US. Create consciousness during the debut stage through public dealingss – athleticss related and otherwise. The first twelvemonth we had unbelievable PR success remembers Reynolds-Gooch. We believe we got approximately $ 14 million worth of free Television. wireless. and print clip around the universe. This was done through such tactics as holding the South African rugger squad wear the strips while it won the World Cup of rugger and holding pulmonologists and take a breathing experts describe the benefits of the merchandise on talk shows in Japan. Australia. Europe and Latin America. CNS rapidly discovered some major differences in marketing the merchandise here and abroad. For case. as Gary Tschautscher. Vice President of International Marketing at CNS explains. In the US. we positioned and distributed the strips as portion of the cough/cold class of merchandises. As we rolled it out internationally. all of a sudden we realized in some states that subdivision in the shop doesn’t even exist. So where make you place your merchandise? Additionally. says Reynolds-Gooch. There truly aren’t many big drug ironss or pharmaceutics ironss. The shops are independent in most states by jurisprudence. So what that means is you have to travel through multiple beds of distribution and finally we were able to act upon the druggist because of the other merchandises 3M distributes in the shops. Finally. there is no couponing in most states in the universe. That vehicle for bring oning test of a new merchandise is non available. and therefore a batch more in-store sa mpling is needed. Both CNS and 3M face some issues for the hereafter as Breathe Right strips addition in popularity around the Earth. While the athletic section of the market gets most of the promotion. the snorers are the majority of the market for the strips internationally. Reynolds-Gooch has identified making heavy users – those who use the strip every dark – as the most of import selling point for the hereafter. in front of people with seasonal colds or allergic reactions. Besides. many of the markets that have been identified as hot new markets throughout the concern community may non be appropriate of the Breath Right ® strip. For illustration. Latin America and Asia ( particularly China ) are emerging markets with steadily increasing income degrees and big populations. but the mean age in these states is under 30. and people under 30 typically do non hold saw wooding jobs with the frequence that older people do.

Information and Systems Security Essay Example | Topics and Well Written Essays - 750 words

Information and Systems Security - Essay Example But with this ease of information access comes the issue of security. With the increase of information flow, there has been an increase in the number of attacks on information by hackers. Attacks such as Denial of Service (DoS) Attacks, Spoofs, Sniffing, etc. have increased with the increase in the availability of hacking tools which are free of cost. Valuable information is lost in the process. For example, if a customer buys a product of a particular organization through their web-site and a hacker presents himself as the organization and receives the money from the customer, valuable information such as the ID of the customer, his credit card numbers, his passwords are all stolen by the hacker. Therefore such information has to be transferred securely over the Internet. Encryption is the most common way of securing valuable information while transmitting over the Internet (Rahman, 2003). Networks are secured in a different manner. They are secured using tools called "Firewalls". W henever transactions or information between a customer and an organization are being carried out, a particular pattern is followed. Firewalls recognize and allow only these transactions or processes to be carried out and block out all the unrecognized patterns. By implementing Firewalls, most of the attacks from the hackers can be kept out. Securing a network just does not happen. There are many issues to be considered when making policies for network security. The three main issues back in the earlier days were Confidentiality, Integrity and Availability. Due to the advances in the technologies, these issues have been mostly resolved. But in the present day Networks, other issues have appeared. These issues will eventually result in the breaching of confidentiality, integrity and availability thereby defeating the cause of coming up with Network Security policies. Security Factors Confidentiality: Confidentiality is ensuring that sensitive information does not fall into the hands of those who are not authorized to have it (Dhillon, 2001). Confidentiality is also known as secrecy or privacy. Integrity: Integrity means that the information is protected against unauthorized changes that are not detectable to authorized users (Kinkus, nd). Authenticity: Authentication means that the parties involved in communication first prove their identity before communication can begin (Tipton & Krause, 2007). Threats Risk to Data Data is the most crucial asset of a company. Remote Data Backups Inc, a leader in data security mentions the following possible reasons for threats to data (RemoteDataBackups.com, 2007): Hard Drive Failures: Hard drives are mechanical magnetic storage devices that are extremely susceptible to failure. Head crashes, circuit board shorts, electrostatic shocks, power surges, etc. can all lead to immediate crash of the hard drives. Viruses: Dangerous viruses can easily wipe out tones of data in matter of seconds. They are designed to affect nearly all parts of an IT system such as Operating Systems, Applications, Networks and Databases. System Changes: Making any inadvertent changes to an IT system may render the system useless. Power Failure: Power surges, sags and failures can damage hard drives

Biology Article Example | Topics and Well Written Essays - 250 words

Biology - Article Example This variation in genes eliminates the chance of delivering mitochondrial diseases to the baby and can affect the baby’s whole personality. This procedure gives the baby chance to live with the healthiest genes. Male mitochondria have no role as these are only present in the sperm tail and do not get the chance of penetrating the egg. The researchers from UK’s Newcastle University are trying another technique that involves the transfer of cell nucleus only and not the mitochondria. The nucleus of the egg with defective mitochondria is transferred to the donor egg. Male infertility can also be cured by injecting healthy mitochondria into the sperm tail which helps in sperm motility. However, chances of mitochondrial diseases to be transferred to the baby still persist as some faulty mitochondria can remain attached to the transferred nucleus. Questions that arise are: Is it not too early to jump to conclusions as Lane himself mentioned that the research work in this area is not complete? If variations in mitochondrial DNA may result in the occurrence of diseases like Alzheimer’s, then is the idea of designer babies a good one? If mitochondrial incompatibilities lead to fatal diseases like early miscarriages, then what is the solution? Have any experiments been conducted to cure male infertility using this concept? Is this concept ethically

Study Nile River Essay Example | Topics and Well Written Essays - 3000 words

Study Nile River - Essay Example The basin is home to the estimated population of over 160 million people with overwhelming majority depending on it directly or indirectly for land, water, shelter, and energy sources (Rahman, 2013). The use of the water resources has over the years become a source of conflict for the ten countries that depend on it directly or indirectly. The population of the river is expected to double in the next twenty years thus pressuring the already strained water resources thus tampering with its ability to meet the world’s social, environmental, and economic challenges in the region (Rahman, 2011). The Nile river basin represents an area with a traditional history that is strongly linked to the river due to its importance in an environment that experiences water scarcity. The region lacks tangible water alternatives hence they purely rely on the river and its resources to provide them with the essentials of their daily lives. The water governance highly favours Egypt at the expense o f riparian states thus breeding a lot of instability concerning water use in this region. The African communities are the most affected by the water resource problems due to persistent drought, increasing food security and political instability. Water is truly a strategic and vital resource and should thus be properly and sensitively managed to avoid pollution and prevent any possible conflict. The Nile water resource is subject to lots of pressures ranging from demographic, economic, growth of agglomerations, and ecological factors that threaten the smooth existence in the region. There are several organizations working round the clock to study and closely monitor the activities that are taking place in the Nile basin. There are several uses of water in this basin spreading in all the riparian states hence all of them want a voice in controlling the water usage. The continuous use of this water resource is exposing this basin to environmental degradation that threatens their ecosys tems in the near future. In an attempt to control this rare resource, trans boundary issues are developing that threatens the political and economic stability in the region, hence resulting in signing of several pacts between the riparian states. Relevant uses and users of water throughout the Nile basin The Nile basin contains a wide range of unique and highly productive ecosystems that provide food resources, medicine, fuel, and construction materials despite providing water for irrigation, industry, hydropower, and household use (Allan, 2009). These ecosystems provide a number of important hydrological functions that include flood mitigation, flow regulation, and water quality in the whole region despite being aesthetic, cultural and heritage significance. The ecosystems provide an intrinsic value to over 160 million people who depend on the Nile basin to provide for a range of livelihoods that include agriculture, fisheries, and urban dwelling (Rahman, 2011). The ecosystems also provide direct services that include water shelter, medicine, fuel, fish, plants and animal feeds that they use throughout the year for their daily survival. According to Allan (2009), the river is of great importance since it provides up to 80% of the calorie intake provided by goods and services directly related to Nile ecosystems. According to Cascao (2009), most of the riparian stat

What are your perceptions on the universal declaration Essay Example for Free

What are your perceptions on the universal declaration Essay One Amazing Thing by: Chitra Divakaruni. It was first published in the US in voice by Hyperion in 2009 and later published by Penguin books India February 2010. The book also has 240 pages. Chitra B. Divakaiumi is an award winning author poet. Her work is widely known, as she has been published in over 500 magazines. Including Atlantic Monthly and The New Yorker, and her writing has been included in over 50 anthologies. She was born in India and lived there until 1976. At which point she left Calcutta and came to the United States. A young woman Uma, sits in the waiting room of the India passport office. She starts to get very impatient, and she entertains herself by observing the other people in the waiting room with her. Everyone has a reason of why they want to enter into India. In the waiting area their waits an Africa American war veteran Cameron who takes charge, but some are unhappy about it. A Muslim names Tariq. An upper class Caucasian couple that really don’t get alone. A Chinese grandmother with a secret past, and her granddaughter, two visa office workers on the verge of and affair Malathi and Mr. Mangalam, and Uma. As they all set in the waiting area Uma starts to feel a little rumbling and that when the earthquake strikes. When everything settles down, there were some major injuries as well as some minor injuries. People started to go into survival mode, as there is little food to eat. The office starts to flood. So emotional stress seems to much for everyone to handle as they wait to be rescued or die. So that’s when Uma comes up with everyone telling â€Å"One Amazing Thing† , about themselves because she believes that no one can go through life without encountering at least one amazing thing. So everyone begin to tell one amazing thing that they have never told anyone before. With One Amazing Thing everyone discover so much from each other as well as their selves. Elderly Caucasian couple Mr. and Mrs. Pritchet going through a difficult time in their marriage, an Indian-Muslim man Tariq who is disillusioned and angry with the new US, as Chinese lady Jiang who loved and lost a man in her younger days, her granddaughter Lily, a middle age army officer haunted by his guilt Cameron, Malathi a visa officer who is engaging in a affair with her boss, Mr. Mangalam on the verge of an extra-martial affair, an Indian-American student Uma, who is confused by her parents decision to return to Kolkata after living in the US for over 20 years. The plot focuses on a group of strangers who are trapped in a visa office. Most customers even some staff have come and gone, but nine people remain in the office. When an earthquake rips through the afternoon, trapping these nine characters together, their focus first is to survive through the struggle. There is a little food from which came from what people had. The office begins to flood, and everyone starts to panic and get really scared and frustrated. So when the emotional stress seems to be to much for them to bear, the young lady Uma tells them to tell a personal tale about them that no one knows about â€Å"One Amazing Thing†, from what they have been through in life. So all of their stories from the romance, self-discovery, family, etc. This novel really proves the power of a lot of stories and the meaning of us as human’s expressions itself. In my opinion the book â€Å"One Amazing Thing†, is an engaging book because it reinforces the idea that all of us are different and unique in our own ways, and that we all have stories of our lives that may be interesting or not to tell. We all can connect to this book or see one another if we are willing to take the time out to listen to people. Because everyone has a something to tell, and amazing is not always positive words. But describes something that might have changed a life, or the course of someone life. Some of the stories are very heart breaking, but all of them paint a picture in some way of the characters and why they may be who they have become.