Introduction Essay Example | Topics and Well Written Essays - 2000 words

Presentation - Essay Example In this postulation, I use Saudization as an analogy to feature the effect of the Saudi culture and lifestyle on one foreigner network, to be specific the Iraqi vagrants in Saudi Arabia. Further clarification for this definition will be given in the accompanying areas of this presentation. Moving starting with one social condition then onto the next has an effect of changing the living example of exiled people in different parts of their lives. This postulation will research and talk about the reality of the Saudization of those families. The examination will concentrate on the gathering of traditionalist Iraqi families who emigrated in late 1960s from Iraq to Saudi Arabia for socio-conservative and political reasons. While the thought of conservativeness has diverse importance in the two nations an examination of the two ideas will be given in the coming sections. What these traditionalist Iraqi families confronted while they were settling and how they figured out how to make their place in the general public is the thing that the exploration will concentrate on, focusing on the social changes experienced because of moving into an increasingly moderate Islamic state and featuring the capacity of these families to adapt to the varying societies while as yet attempting to keep up their socio-social personality to upgrade the sentiment of having a place inside their offspring of the subsequent age. These families were viewed as a minority among different outsiders living in Saudi Arabia. The explanations behind migration additionally change starting with one family then onto the next altogether and every ha their own accounts to tell. Underneath the lucid appearance of these little network individuals, the troublesome impact of diverse results happens behind the veneer. Be that as it may, this can be recognized distinctly by one of its individuals or an exceptionally included person who has an immediate connection which permits them to reach inside the hover of deepest musings and encounters and break the hindrances of pride. So as to give a

Tylenol Ethical Behavior 1982 Essay Example | Topics and Well Written Essays - 500 words

Tylenol Ethical Behavior 1982 - Essay Example Tylenol had been the most beneficial medication for Johnson and Johnson and its defilement spoke to a major danger to the organization and its altruism in the market. The company’s piece of the pie fell definitely from 35% to a negligible 8%. Hence, the company’s point was to respond in a manner that doesn't harm its notoriety. Following the declaration to stop utilization of the item was the declaration that the organization had reviewed its item totally from the market which brought about a quick loss of $100 million (Suder, 2006). The significant point to note here is that, despite the fact that the organization wasn’t answerable for the change in the item, it accepted the moral accountability at the expense of its benefits. By showing that the organization truly thought about the soceity’s wellbeing, Tylenol got compassion vote from clients who began understanding the way that Tylenol had been a survivor of a criminal demonstration ( done by another pe rson) and that the organization was honest (Suder, 2006). Furthermore, the organization set up notoriety and solid connections with the FBI, Police and the organization of the Food and Drug division (Kaplan, 1994). Through this the organization would have liked to pick up the certainty of these gatherings alongside scanning for the people behind the tainting. Besides, it gave substantial totals of cash to the media and promoting organizations so as to advise people in general about halting the utilization of Tylenol and spreading this mindfulness among the majority (Kaplan, 1994). They went to the degree of utilizing â€Å"1-800† hotline to convey the message the nation over and furthermore utilized pre-recorded messages to illuminate news organizations about the most recent improvements as for the emergency (Cutlip, Center, and Broom, 1999). The organization likewise guaranteed that all its public interviews were publicized on national TV (Kaplan, 1994). This was, in any case, a present moment

How To Find Credible Sources Online

How To Find Credible Sources Online How To Find Credible Sources Online How To Find Credible Sources Online The internet is a wonderful tool. There is practically an infinite amount of information on there, on every conceivable subject. You just type in your search term into a search engine, like Google, and the search results appear, showing you all the websites that contain information relevant to your search term. Its a truly great thing. But like anything great, there is a downside. The downside is that the information, in all its abundancy, can come from any source, reliable or not. It is what you would call the unregulated wild west of the virtual world. A common criticism is that you cant trust online sources, which is certainly true to a large extent but not true in the absolute sense. You just have to figure out how to best access the reliable sources. Doing so is a combination of critical thinking and knowing where to look. Critical thinking is much harder to explain, so lets just focus on the academic and professional sources which can, by default, be assumed to be reliable, and how to find these sources. First, look for college and university websites. They usually have publications and online educational material that anyone can access. Look for material written by academics that are knowledgeable in their subject area. Plus, find material that is peer reviewed if possible, such as journal papers. This adds to its reliability. Next, look at government websites representing government agencies (such as Statistics Canada). These agencies are tax-payer funded which means they have high accountability and reliability standards that must be upheld with regards to the information they disseminate. To find information from these two kinds of websites, you can either go directly to the websites and search for the information there, or you can use a search engine to find the information. For example, if you want to find articles on turbines from the NASA website you would enter this into Google: site:http://www.nasa.gov turbines. This would find turbine related webpages on the NASA website. The general format here is: site:(website URL) (search term). Another technique is to only search for PDF documents. Peer reviewed papers and journals are often in PDF format. You can search for these by entering this into Google: filetype:pdf (search term). But again, check the authors and see who they work for. Its generally better to have authors who dont have a conflict of interest, such as those who work for private companies. At Homework Help Canada, we have access to the most reliable online sources. So when you have a job you need done that requires a lot of good source material, such as a research paper or essay, we have that available. You can be sure that the content we create is both properly sourced and properly cited according to the format you need. Get in touch with us today. References: How to evaluate website content. (2015, August 4). The University of Edinburgh. Retrieved August 24, 2015, from evaluating-websites How To Find Credible Sources Online How To Find Credible Sources Online How To Find Credible Sources Online The internet is a wonderful tool. There is practically an infinite amount of information on there, on every conceivable subject. You just type in your search term into a search engine, like Google, and the search results appear, showing you all the websites that contain information relevant to your search term. Its a truly great thing. But like anything great, there is a downside. The downside is that the information, in all its abundancy, can come from any source, reliable or not. It is what you would call the unregulated wild west of the virtual world. A common criticism is that you cant trust online sources, which is certainly true to a large extent but not true in the absolute sense. You just have to figure out how to best access the reliable sources. Doing so is a combination of critical thinking and knowing where to look. Critical thinking is much harder to explain, so lets just focus on the academic and professional sources which can, by default, be assumed to be reliable, and how to find these sources. First, look for college and university websites. They usually have publications and online educational material that anyone can access. Look for material written by academics that are knowledgeable in their subject area. Plus, find material that is peer reviewed if possible, such as journal papers. This adds to its reliability. Next, look at government websites representing government agencies (such as Statistics USA). These agencies are tax-payer funded which means they have high accountability and reliability standards that must be upheld with regards to the information they disseminate. To find information from these two kinds of websites, you can either go directly to the websites and search for the information there, or you can use a search engine to find the information. For example, if you want to find articles on turbines from the NASA website you would enter this into Google: site:http://www.nasa.gov turbines. This would find turbine related webpages on the NASA website. The general format here is: site:(website URL) (search term). Another technique is to only search for PDF documents. Peer reviewed papers and journals are often in PDF format. You can search for these by entering this into Google: filetype:pdf (search term). But again, check the authors and see who they work for. Its generally better to have authors who dont have a conflict of interest, such as those who work for private companies. At Homework Help USA, we have access to the most reliable online sources. So when you have a job you need done that requires a lot of good source material, such as a research paper or essay, we have that available. You can be sure that the content we create is both properly sourced and properly cited according to the format you need. Get in touch with us today. References: How to evaluate website content. (2015, August 4). The University of Edinburgh. Retrieved August 24, 2015, from evaluating-websites

Essay The Role of Women in Australian Society During World...

During the World War II era, the outlook on the role of women in Australian society revolutionised. As a majority of men were at war, Australian women were encouraged to rise above and beyond their stereotypical ‘housewife’ status. They were required to take on the tasks that were once considered predominantly male roles, and also allowed the opportunity to join the armed services as well as enlist in the Women’s Land Army. Many women who doubted their abilities played their part by entering voluntary work. Women had the privilege of contributing in Australian society in many ways that they had never been able before. Thus, it is manifest that the role of women in Australian society had drastically changed. Women proved their strengths to†¦show more content†¦Women were involved in all land, sea and air services in support of military efforts. Only five per cent served overseas, most of which were nurses. Though not in combat, many nurses were in danger, some even lost their lives as they worked in or near combat areas. Betty Jeffrey was a member of the Australian Army Nursing Service when she was captured by the Japanese after the fall of Singapore. As a result of incarceration by the Japanese for three and a half years, Betty suffered from Beri Berii, tuberculosis and amoebic dysentery which she never fully recovered from. This exhibits the jeopardy that both women and men face during wartime. Other military services that women assisted in include: The Women’s Auxiliary Air Force (WAAF), The Women’s Royal Australian Naval Service (WRANS), The Australian Women’s Army Service (AWAS) and The Australian Army Medical Women’s Service (AAMWS). Women in th ese services had a range of duties, from highly approved - officers – to ordinary – drivers, typists, clerks and wireless operators. Australian women were substantially regarded and their roles in society changed immensely. 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Because radio control guidance system is too vulnerable to be damaged, so it is never be produced at that time. After I read an article which mainly discuss the culture background at that time, the article is â€Å"Most Beautiful Woman By Day, Inventor By Night† written by NPR STAFF, this article said the inspire of Hedy Lamarr is coming from the Second World War, because the GermanRead MoreAboriginal And Torres Strait Islanders Civil Rights1392 Words   |  6 PagesFaith Bandler was one of the most prominent figures promoting Aboriginal and Torres Strait Islanders civil rights in Australia, and played a significant role in the success of the 1967 referendum. Bandler’s background and early life significantly influenced her later activism, causing her to question injustices against Aboriginal and Torres Strait Islanders. 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Recommendation to Mitigate the Lac of InfoSec Policy

Recommendation to Mitigate the lack of InfoSec Policy Firstly, we identified that medium-sized company may suffer the problems as follows. The medium-sized companies usually have the same staff resources as the small organization, but they have a much larger personnel demand. The medium-sized companies have the worst ability to set policy, handle incidents, and effectively allocate resources. Based on the companys size, and the management structure we discussed above, we suggest that we use the Gartner Information Security Governance Model to assess the security problem of Inventure Foods, Inc. The Gartner Information Security Governance Model is most suitable for Inventure Foods type of business. It protects the information resources appropriately and efficiently given the company’s limited resources and overstretched personnel. The most important reason why we choose the Gartner Model is that it provides the blueprint for a complete security program and tells management the order about how to implement these security segments. Another reason is that the Gartner Information Security Governance Model is designed for companies that do not require high levels of security such as Inventure Foods. Additionally, Gartner Information Security Governance Model can be integrated as part of Inventure Food’s overall policy. Furthermore, the Gartner Information Security Governance Model is more about protecting the information resources efficiently and effectively beyond just the IT

Explain Externalities and Public Gods Free Essays

With the aid of examples explain the terms: i) Externality ii) Public Good Externality Externalities, or transaction  spillovers, arise when a third party who is not involved in the consumption of a product incur certain costs and benefits that are not compensated for by the generators of those externalities. They exist due to the price system’s (The Invisible Hand) inability to deal with products that have no market or price, such as clean air, peace, quiet, pollution and more. In a broader sense, externalities involve interdependence of utility due to the fact that one person’s action will affect the welfare of another. We will write a custom essay sample on Explain Externalities and Public Gods or any similar topic only for you Order Now Externalities can be classified into two types: positive externalities and negative externalities. Positive externalities exist when an externality-generating activity raises the production or utility of the third party receiving these externalities. These economic activities provide incidental benefits to others for whom they aren’t specifically intended. Negative externalities exist when an externality-generating activity decreases the production or utility of the third party receiving these externalities. These economic activities impose a cost onto others for whom they aren’t specifically intended. The undesirable effects on the allocation of resources by an externality can be explained by using the concept of Marginal Social Cost (MSC). In Economics, the MSC is defined as the sum of Marginal Private Cost (MPC), the marginal cost caused by an activity that is compensated for by the generators, and Marginal External Cost, which is the share of external effects borne by the rest. When a firm’s activities generate negative externalities, its MSC is greater than its MPC. In equilibrium, the Marginal Private Benefit (MPB) will be equal to the firm’s MPC, and hence the MPB MSC. Hence, the final output for the consumer yields less to the society than what it costs to society. Thus, it can be deduced that production is inefficient and that these externalities can be reduced if the production of that particular product is reduced. For example, the construction of roads to facilitate the transport of goods for a factory that produces staplers will benefit residents in that area because they now have greater road accessibility. This is said to be the positive externality arising from this economic activity. On the flip side, this same factory that instigated the construction of roads may discharge a toxic amount of by-products such as soot and toxins into the air and rivers, hence greatly reducing the quality of air and water in that area. This is because factory owners wish to maximize profits and hence will only take into account their MPC and ignore the wider social costs of their activities – MSC will be greater than MPC. In conclusion, it can be said that when positive externalities exist, the MSB MPB, and when negative externalities exist, the MSC MPC. Public Good In economic theory, a good is a tangible or intangible item that gives utility to people when consumed. Goods can be classified into free and economic goods. The former entails no opportunity cost to the consumer, meaning that no one is made worse off by the consumption of a free good. Examples are desert sand, air and seawater. An economic good, on the other hand, entails an opportunity cost. This is because some other good has to be forgone in order to produce an economic good. The root of this opportunity cost is scarcity – a situation in which unlimited human wants exceed the lack of resources that we have in order to meet that demand. Economic goods can then be further subdivided into two: public and private goods. Public goods are collectively consumed and the market may simply not supply them. Examples of public goods are such as defense of the country (a police force and army), a fire brigade, street lighting, or lighthouses. The market system does not work well in this area. One of the jobs of government, both central and local, is to supply public goods or services that are needed but otherwise would not be made available by the market. Some goods are â€Å"semi-public goods†, â€Å"quasi public goods† or â€Å"collective consumption goods†, for instance roads. These are often supplied by the state, but in principle they can be privately supplied, and sometimes are. Examples include the British Toll Roads in the Nineteenth Century or the peage motorways in France today; when you use them, you pay. In some countries, such as Thailand, the fire brigade falls in this area. People insure with a private fire brigade and call them when the house is burning. If you are not insured and you still call them, the market swings into action and they negotiate a rate on the spot for putting out the fire – given the urgency of the event, the demand by the burning house owner is highly inelastic and the price can be very high. There are two key characteristics of a public good. Firstly, public goods are non-excludable, meaning that the producer is unable to separate the non-paying consumers from the paying consumers that are benefitting from the good. As a result, the payer will eventually refuse to pay for the good too. Consequently, markets will refuse to produce public goods and this will result in a market failure. For example, if an entrepreneur stages a fireworks show, people can watch the show from their windows or backyards. Because the entrepreneur cannot charge a fee for consumption, the fireworks show may go unproduced, even if demand for the show is strong. To illustrate the public good’s inability to exclude, here’s an example: In the provision of national defense, if one citizen of defended, so are the rest of the citizens. Secondly, public goods are non-exhaustible. This means that the use of the good by one person does not reduce the amount available to others. Hence, rivalry does not exist in the consumption of this product and another consumer will incur no opportunity cost. For example, the exchange of  MP3  music files on the Internet. The use of these files by any one person does not restrict the use by anyone else and there is little effective control over the exchange of these music files and photo files. In a nutshell, public goods are economic goods that are non-excludable and non-exhaustible, and can be subdivided into public goods and â€Å"semi† public goods. How to cite Explain Externalities and Public Gods, Papers Explain Externalities and Public Gods Free Essays With the aid of examples explain the terms: i) Externality ii) Public Good Externality Externalities, or transaction  spillovers, arise when a third party who is not involved in the consumption of a product incur certain costs and benefits that are not compensated for by the generators of those externalities. They exist due to the price system’s (The Invisible Hand) inability to deal with products that have no market or price, such as clean air, peace, quiet, pollution and more. In a broader sense, externalities involve interdependence of utility due to the fact that one person’s action will affect the welfare of another. We will write a custom essay sample on Explain Externalities and Public Gods or any similar topic only for you Order Now Externalities can be classified into two types: positive externalities and negative externalities. Positive externalities exist when an externality-generating activity raises the production or utility of the third party receiving these externalities. These economic activities provide incidental benefits to others for whom they aren’t specifically intended. Negative externalities exist when an externality-generating activity decreases the production or utility of the third party receiving these externalities. These economic activities impose a cost onto others for whom they aren’t specifically intended. The undesirable effects on the allocation of resources by an externality can be explained by using the concept of Marginal Social Cost (MSC). In Economics, the MSC is defined as the sum of Marginal Private Cost (MPC), the marginal cost caused by an activity that is compensated for by the generators, and Marginal External Cost, which is the share of external effects borne by the rest. When a firm’s activities generate negative externalities, its MSC is greater than its MPC. In equilibrium, the Marginal Private Benefit (MPB) will be equal to the firm’s MPC, and hence the MPB MSC. Hence, the final output for the consumer yields less to the society than what it costs to society. Thus, it can be deduced that production is inefficient and that these externalities can be reduced if the production of that particular product is reduced. For example, the construction of roads to facilitate the transport of goods for a factory that produces staplers will benefit residents in that area because they now have greater road accessibility. This is said to be the positive externality arising from this economic activity. On the flip side, this same factory that instigated the construction of roads may discharge a toxic amount of by-products such as soot and toxins into the air and rivers, hence greatly reducing the quality of air and water in that area. This is because factory owners wish to maximize profits and hence will only take into account their MPC and ignore the wider social costs of their activities – MSC will be greater than MPC. In conclusion, it can be said that when positive externalities exist, the MSB MPB, and when negative externalities exist, the MSC MPC. Public Good In economic theory, a good is a tangible or intangible item that gives utility to people when consumed. Goods can be classified into free and economic goods. The former entails no opportunity cost to the consumer, meaning that no one is made worse off by the consumption of a free good. Examples are desert sand, air and seawater. An economic good, on the other hand, entails an opportunity cost. This is because some other good has to be forgone in order to produce an economic good. The root of this opportunity cost is scarcity – a situation in which unlimited human wants exceed the lack of resources that we have in order to meet that demand. Economic goods can then be further subdivided into two: public and private goods. Public goods are collectively consumed and the market may simply not supply them. Examples of public goods are such as defense of the country (a police force and army), a fire brigade, street lighting, or lighthouses. The market system does not work well in this area. One of the jobs of government, both central and local, is to supply public goods or services that are needed but otherwise would not be made available by the market. Some goods are â€Å"semi-public goods†, â€Å"quasi public goods† or â€Å"collective consumption goods†, for instance roads. These are often supplied by the state, but in principle they can be privately supplied, and sometimes are. Examples include the British Toll Roads in the Nineteenth Century or the peage motorways in France today; when you use them, you pay. In some countries, such as Thailand, the fire brigade falls in this area. People insure with a private fire brigade and call them when the house is burning. If you are not insured and you still call them, the market swings into action and they negotiate a rate on the spot for putting out the fire – given the urgency of the event, the demand by the burning house owner is highly inelastic and the price can be very high. There are two key characteristics of a public good. Firstly, public goods are non-excludable, meaning that the producer is unable to separate the non-paying consumers from the paying consumers that are benefitting from the good. As a result, the payer will eventually refuse to pay for the good too. Consequently, markets will refuse to produce public goods and this will result in a market failure. For example, if an entrepreneur stages a fireworks show, people can watch the show from their windows or backyards. Because the entrepreneur cannot charge a fee for consumption, the fireworks show may go unproduced, even if demand for the show is strong. To illustrate the public good’s inability to exclude, here’s an example: In the provision of national defense, if one citizen of defended, so are the rest of the citizens. Secondly, public goods are non-exhaustible. This means that the use of the good by one person does not reduce the amount available to others. Hence, rivalry does not exist in the consumption of this product and another consumer will incur no opportunity cost. For example, the exchange of  MP3  music files on the Internet. The use of these files by any one person does not restrict the use by anyone else and there is little effective control over the exchange of these music files and photo files. In a nutshell, public goods are economic goods that are non-excludable and non-exhaustible, and can be subdivided into public goods and â€Å"semi† public goods. How to cite Explain Externalities and Public Gods, Essay examples

Legalization of Abortion free essay sample

Lerato MthimkhuluEnglish Argumentative22 February 2008 Grade 12 O EssayMrs. Turner Abortion should not be legal In South Africa Abortions date back to as far as the 1840’s and is still one of the most often performed procedures in South Africa. There have been many cases of women dying after having a â€Å"backstreet† abortion (an abortion that happens in an unsafe environment and procedure is performed by an inexperienced doctor). Even if abortion was illegal there are still going to be â€Å"backstreet† abortions and many women would still be in danger. An abortion is the removal of an embryo or fetus from the uterus, which causes it to die. There are the pros and cons regarding the legalization of abortions. The good side to having an abortion is that if a woman is raped and does not want any reminder of the incident then abortions should be legal. Rape can cause serious damage to the self confidence of a woman and is something she would want to forget, and having a baby from someone that raped you is not something a woman would not want to be reminded of. We will write a custom essay sample on Legalization of Abortion or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The child will also grow up knowing that they were a mistake and that is not a life any child should have to live. So in that case abortions should be legal. The bad side to abortions is that many uneducated women are using abortion as a contraceptive. Every time the woman gets pregnant she goes and has an abortion. Instead of having protected sex or not having sex at all, they have abortions so they don’t have babies. This is very wrong because they are abusing abortions. If the women can’t afford the correct contraceptives prescribed by the doctors they should not be getting pregnant because they know they don’t want the child or they can’t afford it. So in this case abortion should not be legal. The other bad side of abortions is that there are â€Å"backstreet† abortions where an inexperienced person performs the abortion. These abortions usually take place in unhygienic areas and the tools that are used are not sterilized before use. â€Å"Backstreet† abortions can cause serious health problems to the women who undergo them. These problems include infections, hemorrhages and damage to internal organs. WHO (The World Health Organization) estimates that 19 million unsafe abortions occur around the world annually and that 68 000 of these result in the woman’s death. It has been discovered that abortion is linked with higher rates of psychiatric treatment, anxiety; depression, post-traumatic stress disorder and worsening of general health like suicidal thoughts and completed suicides. These things are very alarming to know and if these things can happen then abortion should be illegal for the safety of the women in this world. The issue about weather abortions should be legal or not is very debatable. In my opinion I think that even if abortion is illegal you will still have many people performing illegal abortions. Its like with drugs, most drugs are illegal but people are still using them and selling them. So the government can make abortions illegal but it won’t stop people from still performing â€Å"backstreet† abortions and the women dying or causing them to suffer from many psychiatric disorders. Word Count: 546 words

Free Essays on big man

Personal Computers Introduction Traditional computer terminals are being replaced today with powerful, multifunction personal computers. PCs offer all the advantages of terminals, but add personal and organizational productivity applications, such as word processing, spreadsheets, calendars, task lists, electronic mail, project management, legal research, presentation software, imaging, public access, etc. PCs replace proprietary systems with more effective tools at a lower cost and risk. The graphical user interface of the personal computer is easier to learn and use. Instead of typing lengthy commands or navigating complex menu structures, the user presses command keys and selects data from lists supplied on the screen. This new generation of tools can be tailored to the exact needs of modern court officials. Description There are five key components of a personal computer: processor, memory, storage devices, input and output devices, and networking equipment. The processor is the single chip in a personal computer that performs logic, computation, and decision-making operations. All other components exist to organize, store, and route data and instructions in support of these processor activities. The processor works with only a limited number of instructions and a small amount of data at any one time. It must work very rapidly (processing millions of instructions per second) to serve as a cost-effective alternative to human effort, because a simple manual operation may require dozens or hundreds of instructions when performed by a computer. The instructions and data are stored in the computer’s memory, where they are available as needed. Memory is the computer’s work area. Because it is relatively expensive and of insufficient capacity to store all the data and instructions needed, the personal computer uses storage devicesdisk and tapeto hold information that will not fit in memory. While these storage devices ar... Free Essays on big man Free Essays on big man Personal Computers Introduction Traditional computer terminals are being replaced today with powerful, multifunction personal computers. PCs offer all the advantages of terminals, but add personal and organizational productivity applications, such as word processing, spreadsheets, calendars, task lists, electronic mail, project management, legal research, presentation software, imaging, public access, etc. PCs replace proprietary systems with more effective tools at a lower cost and risk. The graphical user interface of the personal computer is easier to learn and use. Instead of typing lengthy commands or navigating complex menu structures, the user presses command keys and selects data from lists supplied on the screen. This new generation of tools can be tailored to the exact needs of modern court officials. Description There are five key components of a personal computer: processor, memory, storage devices, input and output devices, and networking equipment. The processor is the single chip in a personal computer that performs logic, computation, and decision-making operations. All other components exist to organize, store, and route data and instructions in support of these processor activities. The processor works with only a limited number of instructions and a small amount of data at any one time. It must work very rapidly (processing millions of instructions per second) to serve as a cost-effective alternative to human effort, because a simple manual operation may require dozens or hundreds of instructions when performed by a computer. The instructions and data are stored in the computer’s memory, where they are available as needed. Memory is the computer’s work area. Because it is relatively expensive and of insufficient capacity to store all the data and instructions needed, the personal computer uses storage devicesdisk and tapeto hold information that will not fit in memory. While these storage devices ar...

Before You Buy an Inventors Log Book

Before You Buy an Inventors Log Book An inventors log book is used to record the progress of your inventing. You should start using one the moment you think of an idea for an invention. However, your log book must be of a certain type. You can buy a specially printed inventors log book. You can also buy a generic bound notebook. The most important thing is that the pages of the notebook cannot be added or subtracted without that being evident. Before Buying Specially Printed Log Books Look for sequentially pre-printed numbered pages, fade-away backgrounds, spaces for you and a witness to sign date, and instructions on how to use the journal. Look for pages with blue-lined grids for easy drawing. Some log books have special copy features; copy drawings on a light copier setting and the grid pattern fades away for preparing patent application drawings, or copy the drawings on a dark setting and the words, Do Not Reproduce appears for confidence usage. Inventors NotebooksScientific Journal Generic Bound Notebooks Never buy a loose leaf notebook. Never buy 3-ring binders to use as a log book. Never buy a legal pad or any glued together notebook. Buy a notebook with pages as secure as possible - a bound or sewn notebook. Mead brand composition books are perfect. Buy only notebooks with white pages - the lines can be colored blue or black. Mead Composition Notebooks Generic Ledger Books These common and inexpensive ledger books can also be used as a log book. The same considerations given to bound notebooks will apply - bound books only. Remember you have to buy a separate log book for each different idea, so inexpensive is sometimes the way to go. Staples Office Supplies ledger book

Academic software Coursework Example | Topics and Well Written Essays - 250 words

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Impact Of The Monetary Policies

Impact Of The Monetary Policies Introduction Through a literature review, this chapter aims to explore the impact of the monetary policies and regulations on bank risks and their operations in Zimbabwe. Section 2.1 will give a brief over view of Zimbabwe and Section 2.2 will discuss the Zimbabwean economy. Section 2.3 will outline a background on the rationale of financial regulation through the exploration of the Basle Accord II. In section 2.4, financial regulation in Zimbabwe and its influence to the economy will be examined. An overview of the banking system and the type of risks it is exposed to will be considered in section 2.5. Section 2.6 will explore the Zimbabwean banking system and its major challenges also linking these to the country„Â ¢s financial regulation. In section 2.7 the author discusses Enterprise Risk Management (ERM) which is an integrated and holistic risk management framework that organisations are encouraged to use as a change management strategy for managing risks. Section 2.8 will finally sum marise this chapter. Overview of Zimbabwe Zimbabwe (formerly Rhodesia) is a landlocked country in south-central Africa. It lies between the Zambezi River which in the north and the Limpopo River in the south. Its neighbouring countries are Zambia, South Africa, Mozambique and Botswana. Zimbabwes capital city, Harare, is located in the northeast part of the country (Coltart 2008). Zimbabwe gained its independence from Britain in 1980 after a long armed struggle led by the leading party, Zimbabwe African National Union Patriotic Front known as ZANU-PF, (Makumbe, 2002). It has a population of 13,349,00 people with a gross domestic product that is estimated to have fallen by about 14% in 2008 due to economic disruptions caused by hyperinflation and the further deterioration in the business climate (World Bank 2008). The economy of Zimbabwe Chitiga (2004) contends that agriculture plays a central role in the economic performance of Zimbabwe. The agricultural sector is important to the economy for several reasons (Christiansen 1993).In the 1980s, it was the major employer, employing a total of over 70% of the country„Â ¢s population. The sector continues to be a major employer to this day. In Zimbabwe, droughts continue to be a major problem and raises concern about food security (Chitiga 2004). However despite the ever changing weather patterns affecting the agriculture sector in Zimbabwe, Coltart (2004) notes that agriculture the mainstay of the economy was all but destroyed by the politically expedient and violent land reform program initiated by the ZANU PF government in 2000. Collapse of Zimbabwean economy Coorey et al( 2007) argues that, while the initial output collapse is widely attributed to the chaotic seizure of commercial farms in Zimbabwe which is the backbone of the economy, other factors have also contributed in recent years to the county„Â ¢s collapse which include; 1) high and accelerating inflation of 230 000 000% in 2008, 2) price distortions due to extensive controls and regulation, particularly relating to the exchange rate which is fixed by the Reserve Bank of Zimbabwe (RBZ) at a highly overvalued rate, 3) the collapse of investor confidence due to unpredictable policies and lack of respect for property rights, particularly in agriculture and mining and 4) minimal external financing because of poor relations with creditors and donors and deteriorating economic and social conditions. (Munoz 2006, Dore et al 2008, Hanke 2008) argue that the RBZ„Â ¢s polices such as printing of money, quasi-fiscal activities by the RBZ, have specifically caused the economic instability in Zimbabwe. The consensus amongst these authors is that the country„Â ¢s government policies alongside with the central bank have played a major role in causing hyperinflation which rose to 230 000 000% in 2008. Coltart (2004) highlights that the government is chiefly responsible for an economic meltdown. Muponda (2008) notes that Zimbabwe„Â ¢s inflation was driven higher by the central banks lack of independence from the government. Therefore the banks policies have been primarily dictated by the government. The RBZ has been forced to be financier of first choice and literally print money to fund its the quasi fiscal activities.. The challenges faced by Zimbabwe have been contributed by various factors including, the land reform programme in 2000 (Coorey et al 2007), political unrest in the country which has isolated the country from the global community through sanctions and withdrawal of investments and international business community. Research by Cukierman (2001) and the IMF (1996) suggest that countries accorded greater autonomy to their central banks also experienced lower average inflation whilst those economies where there is no central bank independence have higher inflation rates. The influence of the government on the RBZ has resulted in the bank implementing unorthodox monetary practices such as printing of money which has fuelled hyperinflation. Hanke (2008) refers to hyperinflation as the hallmark of Zimbabwe„Â ¢s economic collapse. The state of the Zimbabwean economy has undergone, major changes with major economic and political reforms implemented by government officials to restore the economic soundness of the country in the year 2009. There is the use of multi currencies in the country as the economy was officially dollarized by the central bank in February 2009 resulting in the removal of the local currency (RBZ 2009). Since the adoption of multiple currencies, deposits into the banking system have grown to US$705.7 million by 3 June 2000 (Government of Zimbabwe 2009). Already, the economy is on a recovery path as reflected by macro-economic stability, inflation reduction, enhanced capacity utilisation, resulting in improved supply of goods and services as well as overall growing business confidence (Biti 2009). Financial Regulation Effective regulation is of fundamental importance for the economic performance of any sector in the economy to address market failure (Jalilian et al 2003). The mishaps and failure of large corporate institutions in the financial sector have caught the attention of regulators, who have taken a more stringent regulatory approach in the financial sector. In recent years, a number of financial crises have brought about a large number of bank failures (Casu et al 2006), such as Barings Bank in 1995 and Northern Rock in 2007. Likewise the banking crises in the early 1980s and early 1990s have shown that banks experience problems which create a potential threat to depositors, investors and the safety of the industry with unpleasant consequences for the economy as a whole (Caprio and Klingebiel 2003). Financial regulation focuses on the factors that are essential to the stability and well being of the financial sector (Stewart 2001). The susceptibility of banks to contagion creates systemic risk which is the risk that disturbances in a financial institution or market will spread across the financial system (Heffernan 2005). It is the role of the central bank to implement measures to shield the country„Â ¢s economy from being affected by the results of the crises. Stiglitz (2000) contends that the aim of regulators is to minimise the possibility of a breakdown in the financial sector and prevent any adverse effects on the long term growth rate in the economy. In some instances government have had to rescue banks to avoid the crises from spreading to other banks and affecting depositors as well.. Restrictions on bank activities, risk adjusted minimum capital requirement, direct intervention of managers decisions are three basic devices that can be applied by regulators to control bank risks (Fenandez and Gonzalez 2005). Minimum capital requirements Various authors (Besanko and Kanatas 1996, Calem and Rob 1999) however argue that regulations such as minimum capital requirements are likely to increase the risk taking behaviour of banks. According to Kendall (1992) higher capital requirements may cause riskier bank behaviour at some point in time, although it does not necessarily imply a trend towards a riskier banking system. Beatty and Gron (2001) indicate that capital regulatory variables have significant effects for low-capital banks but not necessarily for other banks. Studies by Barth et al. (2004) also indicate that while more stringent capital requirements are associated with fewer non performing loans, capital stringency is not robustly linked with banking crises or bank development or efficiency when controlling for other supervisory and regulatory policies. Bank Regulations Bank authorities regularly attempt to promote bank soundness by imposing restrictions on banks activities (Constantin et al, 2006). In their research, Constantin et al (2006) found that restricting bank activities is negatively associated with bank development and stability. Barth et al. (2001) found that greater regulatory restrictions on bank activities are associated with higher probability of suffering a major banking crisis, and lower banking sector efficiency. Lascelles (2005) adds that a survey conducted by Pricewaterhouse Coopers found that excessive regulation was seen as the greatest risk facing the financial sector. However in contrast to this, Fernandez and Gonzalez (2005) indicate that stricter restrictions on bank activities are effective at reducing banking risk. It would appear overall that restrictions on banking activities forms as a basis of ensuring that banks do not divert from their core business and conduct sound banking practices. Basle Accord It is because of problems such as the financial crises that the Basle Accord II emphasises on the supervisory role of the regulator. In June 1999, the Basle Committee on Banking Supervision made its long anticipated announcement to introduce a new capital accord to introduce a new capital adequacy framework to replace the 1988 Accord (Ong 2005). This framework was then finalised in June 2004. Cai and Wheale (2007) note that this framework is designed to improve risk management by using models based on past performance to help set the amount of capital banks are required to hold by regulators with the purpose of improving the efficiency of the global allocation of capital. Efforts were made to initiate the new Accord as the first accord of 1988 was highly criticised for its shortcomings. risk. The new accord seeks to overcome the problems of the 1988 framework focusing on three pillars (Basel Committee 2005). Pillar 1 sets out the minimum regulatory capital requirement that is the amount of capital banks must hold against risks. This is intended to cover market risk, credit risk and operational risk. Pillar 2 defines the process for supervisory review of an institutions risk management framework and, ultimately, its capital adequacy. This pillar points out responsibilities for the board and senior management, emphasising on internal control corporate governance practices established by regulatory bodies in various countries worldwide. Sironi and Zazzara (2003) argue that this pillar gives regulators the right to inspect and supervise the activities of banks to ensure that they are adhering to the requirements of the framework Pillar 3 focuses on market discipline. In order to improve the transparency of banks to counterparties and investors, banks will be required to disclose detailed information on their risk profile and capital adequacy (Gordy and Howells 2006). The benefits of the Basle II are noted in the three pillars, as there will be enhanced disclosure, transparency and this will improve on banks risk management processes. Cai and Wheale (2005), site that banks will need to collect and disclose new information and face the implications of increased transparency. Cai and Wheale (2005) add that more information will help enable banks to improve overall risk management which in turn is expected to prompt improvements in corporate governance, transparency and the value of disclosure. Ong (2005), supports this and says that Basle II is very important and it is about improving risk management within the financial industry by providing the correct incentives for better corporate governance and fostering greater transparency. The Basle accord on the other hand is criticised for some of its shortfalls. For example the fact that the costs of Basle II are significantly high in terms of implementation and continuing basis in the long run (Gordon 2004). Banks lose their flexibility, innovation and development are interrupted. Due to the fact that limited resources are available, many risk managers will spend a long period of time on interpreting regulations, implementing the solutions and then justifying the output to supervisors (Smith and Walter 2003). Hence little time will be available for innovation and development. The compliance with laws and regulations is not able to help banks avoiding all risks. Zimbabwean Financial Regulation The Reserve Bank of Zimbabwe is responsible for the formulation; implementation and monitoring of the monetary policy directed at ensuring low and stable inflation levels (Reserve Bank Act). The RBZ does not, however have the operational independence in carrying out this responsibility, as it is required by statute to consult the Ministry of Finance (Dore 2008). This has resulted in the RBZ operating from the executive arm of the government instead of adhering to a binding legal mandate (World Bank 2007). Bade and Parkin (1982) note that political independence is defined essentially as the ability of the central bank to select its policy objectives without the influence from the government. A central bank is said to be independent of its monetary policy if it is not influenced by political cycles or by the preferences of politicians (Eljffinger and de Haan 1996). The RBZ„Â ¢s policies have been influenced by Zimbabwean political authorities therefore the bank has been lacking central bank independence. Another core function of the RBZ is to maintain stable banking system through its supervision and lender of last resort functions. Post 2003 monetary polices and regulation The turning point in Zimbabwean financial services sector was marked by the appointment of the new central bank governor in 2003. During this period the governor issued a monetary policy and financial regulations which sought to minimise non-core banking activities practiced by banking institutions (Dore 2008). The other objectives were to instil market discipline and improve corporate governance and risk management systems. As a result of the RBZ„Â ¢s severe supervisory efforts, various banking institutions experienced liquidity and solvency challenges. Consequently, nine financial institutions were placed under curatorship whilst 3 were liquidated. Banks currently face risk management challenges, economic and political uncertainties and new regulatory requirements emanating from the RBZ regulations and unstable political environment (Muponda 2008). The RBZ governor, notes in the 2009 monetary policy (Government of Zimbabwe 2009) that prior to 2003, an adverse macroeconomic environment, weak supervisory approaches, and regulatory forbearance gave rise to a number of fundamental flaws in the operations of banks. These included; 1) a shift from core banking business to speculative transactions, 2) abuse of bank holding company structures to evade regulation, 3) poor corporate governance, risk management practices and insider dealing, 4) rapid local and regional expansion with no proper internal controls, and adequate capacity and 5) disregard of prudential laws and regulations. Smith and Walter (2003) suggest that the fundamental objective of regulators is to develop frameworks and guidelines that will further strengthen the stability of banking system. This objective is achieved in promoting the adoption of these frameworks in banks. To enhance the supervisory process, the RBZ has developed and issued guidelines for the banking s ector in order to address operational and structural deficiencies prevailing in the financial sector, (Government of Zimbabwe 2009). These guidelines are shown below in table 1. Basel II implementation The Basel II implementation in Zimbabwean banking industry is still in its preliminary stages. A survey by Ernest and Young in 2005 (Lescellos 2005) shows that many banks in developed countries have come up with implementation programmes of Basle II whilst in developing countries implementation is still at the initial stages. This survey is confirmed by evidence of the current implementation status in Zimbabwe. The current guidelines setup by regulators in Zimbabwe is that all banking institutions must fully adopt standardised approaches for allocation of capital for risk (credit, market and operational). However a technical guidance on Basle II implementation in Zimbabwe will be issued in due course to provide a road map and expert guidance on full Basle II implementation in the country, (Monetary Policy 2009).This shows how slow the progress has been in the full implementation of the framework in Zimbabwe, and could be the cause of the major problems faced by country„Â ¢s th e banking industry. Cai and Wheale (2005) however report that awareness and preparation for Basel II in the emerging markets and developing countries has increased significantly over the past two years. Banking Sector It is widely accepted that the banking system has a unique position in the national economy (Heffernan 2005). A banking system that is able to operate efficiently is of crucial importance to any economy (Quagliariello 2002). The banking system must not only be efficient in carrying its role as an intermediary in the financial market but it must also be economically robust to withstand adverse shocks such as a major policy change to economic downturn. Traditional functions of banks include lending money to borrowers and taking deposits. They play a financial intermediary role of providing loans to borrowers and collecting deposits from savers (Casu et al, 2006). Poorly operating banking systems can impede economic growth, intensify poverty and destabilise the economy. These poor operations can be due to banks with inadequate risk management processes (Stiglitz 2000). Banking Risks The nature of banking activities eposes banks to the following risks Due to the nature of banking activities, they are exposed to various risks. These credit risk, market risk, liquidity risk, operational and foreign exchange risk. Credit risk The Basle Committee on Banking Supervision (2000) define credit risk as the potential that a borrower or counterparty will fail to meet its obligations in accordance with greater terms. Credit risk is associated with the traditional lending activity of banks and it is simply described as the risk of a loan being repaid in part or full (Casu et al, 2006). Liquidity risk This is the possibility that a bank will be unable to meet its liquid liabilities because of unexpected withdrawals of deposits. An unexpected liquidity shortage means that the bank is not only unable to meet its liability obligations but also unable to fund its illiquid asset (Matthews and Thompson 2008) Interest rate risk Financial intermediaries are potentially exposed to interest rate risk because of the mismatch between the maturity, or time to repricing of their assets and liabilities (Faff and Howard, 1999). The interest rate sensitivity exhibited by a financial institution will depend, in part, on the approach which its management adopts to controlling risk. Operational risk The Basel Committee on Banking Supervision in 2003, recommended the correct determination of the risks to which a banking organization is subject. This concerns, in particular, operational risks, which are all those management events that may determine unexpected losses (Cornalba and Guidici 2005). The New Basle Accord (2000) defines operational risks as the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events (such as political and economic factors), including legal risk but not strategic and reputation risk. Market risk According to Matthews and Thompson (2008), market risk is the possibility of loss over a given period of time related to uncertain movement in market risk factors such as interest rates, currencies equities and commodities. Foreign exchange risk Exchange rates may change rapidly which exposes firms to foreign exchange rate risk, which is the risk that losses may arise from rises or falls in the value of a currency in terms of the domestic currency. Eichenbam and Evans (1995) suggest that there is a link between monetary policies and foreign exchange rates. Contractionary shocks to monetary policies are followed by sharp persistent increases in exchange rates, which ultimately results in foreign exchange rate risk. Other risks that affect banks include strategic, regulatory and legal and compliance risk There is a clear sense that risk exposure of the financial system has increased by changes that have taken place (Hellwig 1995). Casu et al (2006) notes that changes such as deregulation, conglomeration, and globalisation have posed serious risk challenges. Calomiris and Maso (2003) emphasise that the risk taking behaviour of banks affects financial and economic fragility. In turn regulators have undertaken greater efforts of regulation to impose new risk management standards to shape bank risk (Elsinger et al 2002). In compliance to this banks have improved their risk management systems. Examples of other regulatory reforms advocating for risk management frameworks are the Sarbanes Oxely Act of 2002, the Basle Accord II and the Committee of Sponsoring Organisations of the Treadway Commissions (COSO) Enterprise Risk Management of 2004. Zimbabwe banking sector The Zimbabwe financial sector consists of the Reserve bank, discount houses, commercial banks, merchant banks, finance houses, building societies, a development bank and the Post office savings bank, insurance companies, pension funds and a stock exchange, (Dore 2008). There are currently twenty-eight banking institutions in Zimbabwe,fifteen commercial banks, six merchant banks, three discount houses,4 discount houses and one development bank. All banks are licensed by the RBZ and regulated under the Zimbabwe Banking Act of 1999. Zimbabwe„Â ¢s financial services sector has witnessed phenomenal growth since economic deregulation in 1991 (Muranda 2006). During the period of 1991 to 2003 new domestic banks entered, financial sector. New Innovations and development have been witnessed with the introduction of new products and services within the sector. Table 1.2 below shows the banking sectors growth trend from 19992 to 2004 of financial. However the banking sector has been gripped with many challenges, which began to surface during the period of the land seizures in 2000. These policies created extremely difficult economic and political challenges for the banking industry. The IMF (2006) argues that events in the banking sector have been concurrently influenced by political factors.. The situation was heightened in 2003 by the new regulations set by the appointed RBZ governor. It was reported by Voice of America (2004) that at least six of Zimbabwe„Â ¢s new commercial banks are were in trouble. It linked this distress to the governments new monetary policy announced in December 2003, in which the central bank vowed to stop speculation in the Zimbabwe dollar and related instruments. Biti (2009) in the Zimbabwean fiscal policy points out that between 2000 and 2008, the financial sector has severely been undermined by inconsistent macro-economic policies, negative real interest rates, massive capital flight and erosion of deposits. Overall, the financial sectors balance sheets were reduced to less than 25% of their 2004 value, reflecting an erosion of the real value of financial assets and liabilities in Zimbabwe dollars (World Bank 2005). In order to remain afloat, most banks have had to downsize their operations by closing some branches, especially those in the outlying service centres, leaving about 65% of the population without access to banking services. The rural areas were particularly affected by this. Factors that have influenced liquidity risks include frequent ad hoc changes in interest rates by the RBZ, lengthening of maturity of treasury bills at highly negative interest rates (IMF 2008). Foreign exchange risk in the banking sector has increased becau se of the dominance of foreign currency transactions (Hanke 2008). Dhiwayo (2004) reports that, prior to the introduction of the new monetary policy in December 2003, the Zimbabwean banking sector was characterised by poor corporate governance and risk management systems, high levels of insider abuse through assessed loans to related parties (often relatives and friends), overindulgence in speculative non-core banking activities, inadequate capitalisation, lax prudential supervision and regulatory forbearance. This report highlights that three financial institutions were placed under liquidation whilst nine were placed under the administration of a curator. In light of this the central bank adopted a framework known as the Troubled Bank Resolution Framework (RBZ 2004) to effectively deal with banks experiencing problems. They key objectives of this framework were to: 1) restore stability of the financial sector, 2) strengthen the banking system and promote sound banking practices, 3) develop permanent solutions for troubled banking institutions and 4) promote economic development and growth.The Zimbabwe Allied Banking group was formed in 2005 which was amalgamation of the some of the troubled banks. Dollarisation of the economy Over the years the financial sector has been experiencing various challenges such as, cash shortage, foreign currency black markets, abolition of notes and coins and the use of bearer cheques, loss of confidence in the banking system by depositors and the most influential factor which is inflation. Many depositors have lost their savings. Prior to 2009, the Zimbabwean economy had been unofficially dollarised. Unofficial dollarisation occurs when people hold much of their financial wealth in foreign assets even though foreign currency is not a legal tender. It can include the holding of foreign bonds and other non-monetary assets, foreign-currency deposits (either abroad or domestically), and foreign notes (paper money) in wallets, under mattresses, and in safe-deposit boxes, (Hanke, 2008). However in the January 2009 monetary policy, the RBZ governor approved that all sectors in the economy can operate in foreign currency and that lending will be two tier, that is in local currency and foreign currency. Dollarisation has the effect of moderating the adverse effects of inflation on financial intermediaries„Â ¢ balance sheets (Ize et al 2004). This It could be argued that this two tier market system exposes banks to credit risk (in the form of settlement risk and default risk). Minimum capital requirements A capital verification exercise conducted by the Reserve Bank in January 2009 indicated that of the twenty eight (28) banking institutions operating in the country, fifteen were found to be in compliance with the minimum capital requirements whilst three are marginally below, with the remaining ten being undercapitalised. Capital regulation is motivated principally by the concerns that a bank may hold less capital than is socially optimal to its riskiness and negative externalties (Rime 2001). Chiuri et al (2002) considers that the enforcement of capital requirements has had a negative effect on the supply of bank loan over a period of time and the effect tends to be stronger for initially less capitalised banks. The adverse impact of more stringent minimum capital requirements has been somewhat smaller on foreign owned banks than it has on domestic banks (Clarke et al 1999). Enterprise Risk Management A recent trend in risk management has been the development of an integrated, enterprise wide approach to assessing the business risks that can impact an organisation to achieve its objectives and to develop programmes for managing those risks (Miccolis et al 2001). In contrast to the traditional silo approach to managing risk, the ERM approach requires that a company-wide approach be taken in identifying, assessing, and managing risk, (Liebenberg and Hoyt, 2003). ERM enables firms to benefit from an integrated approach to managing risk that shifts the focus of the risk management function from primarily defensive to increasingly offensive and strategic (Bies 2004). Various risk management bodies have been influenced by the proposals of ERM.COSO (2004), defines ERM as: A process, effected by an entitys board of directors, management and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives. The common method of risk management has been known to treat risks separately. Under this approach according to Lam (1997), Cumming and Hirtle (2001), various categories of risk are managed separately in individual risk silos. Liebenberg and Hoyt, (2003) also criticise the traditional risk management approach as a highly disaggregated method of managing firm risks. An enterprise-wide approach to risk management treats each of these risk classes as part of the firms overall risk portfolio that is managed holistically. Kleffner et al (2003) observes that financial institutions often manage risks in individual risk silos. To manage risk on an enterprise wide basis, banks must expand their focus beyond traditional concepts to include economic and political factors along with risks related to reputation, ethics and data integrity (Pricewaterhouse Coopers 2002). It is therefore important in this research to examine how banks have adopted their risk management framework having considered political and economic factors affecting Zimbabwean bank s. Although ERM is increasing, not as many institutions have implemented it (Walker et al 2002). This may be due to lack of knowledge on its benefits, lack of commitment from board of directors, lack of experienced and qualified risk personnel , a corporate culture that discourages ERM and inadequate systems and technology (COSO 2004). Lam (2007) encourages banks to adopt an ERM programme regardless of their level of sophistication in risk management. He identifies three reasons why banks should adopt ERM: 1.) banks face complex risks that are highly interdependent, and an ERM framework enables a bank to manage all major risks and their interdependencies, 2) an ERM framework provides the overall architecture for a banks risk management programme and 3) empirical research and industry surveys have indicated that there are clear business benefits for adopting an ERM programme. Liebenberg and Hoyt, (2003) observe that ERM benefits firms by decreasing earnings and stock-price volatility, reducing external capital costs, increasing capital efficiency, and creating synergies between different risk management activities. It would appear that ERM helps an organisation to function as a whole or one system as various units dependant on each other. This enables risk management to be implemented fully as risks are consolidated and not treated separately. Influencers of ERM The trend toward the adoption of ERM programs is usually attributed to a combination of external and internal factors. The major exter

Is There a Purpose of Life? Essay

Introduction Between ages, humans have metamorphosed to a different level with plethora of inventions and individual realizations, yet a universally acceptable answer to a prime question like ‘whether there is a purpose of life’ still remains as elusive as it had always been. Even the scientists too evade this question by saying â€Å"science can only answer ‘how’ rather than ‘why'† (Meaning, 2008). This state of affairs has divided three schools of thought – one, who says there is no purpose of life, two, who refutes the claims of the former and the third, who stays away from this debate. Thus this essay explores the views of the first and second schools of thought before coming to its own conclusion. There is No purpose of life. People who believe there is no purpose of life stress on objective evidence to build their premise. Since there is no concrete evidence of why life manifests in so many forms or procreates, it usually generates the inference that there is no purpose of life. There is no point in underestimating the collective intellect of the majority who find themselves clueless about what it could be the meaning and purpose of life mostly because they don’t find any. Even the in-depth analysis of life could only determine the processes, but not a valid reason behind it. After an exhaustive analysis of the question, NASA came to the conclusion that â€Å"life, all life, is the attribute of any system that is a) capable of replication, b) capable of every conversion in order to offset entropy and c) subject to the process of evolution†(Requadt, 2006) The prey-predator cycle ultimately turns to a level playing field where each living component shows its purpose as if either to utilize others or to be utilized by others. This cannot serve any clue as to why this game is going on, as the entire game is based on molecular activity at various levels, involving uncountable elements and processes under various time frames. Thus this enormity of the process itself defies any set principle to hint about any purpose behind all these. There is no tangible or universally acceptable proof that life stems from a single condensed form of power (as God or any superpower) that exists on and on even after the death of a living being. Thus the concepts like God creates living beings with a specific purpose or purposes are mere hypotheses backed by belief. Belief cannot be cited as evidence and therefore theories involving God as the creator of life also gets eliminated. The arguments placed by this school of thought clearly show that it does not allow any room to the individual human realizations regarding the purpose of life, as all humans do not certify such realization as commonplace experience substantiating the purpose of life on earth. This brings up one point to the fore – that the difference among humans in cognitive plane prevents them to achieve or align same kind of realization or understanding about life or its purpose and thus this school of thought indemnifies only the findings on the objective level. However, this seems too one-sided, because the significance of subjectivity in this issue is extremely important. There is Purpose of Life The other school of thought that admits about life having some purpose chooses to define it as something beyond ordinary comprehension and is â€Å"far greater than personal fulfillment† (Warren, 2004). This school relies on the model of superpower having its own purpose running behind creation and maintenance of the flow of life on earth. This school of thought recognizes individual experiences on cognitive plane and uses that to substantiate their claim while arguing about the limitation of humans or other living beings to capture the ‘big picture’ from objective angle. It is true that there is no dearth of instances that defies earthly logic, as for example, some accurate predictions done by individuals or someone claiming to receive some idea in dream or experiencing strange feelings that indicates the existence of a superpower. Discussion Since it is admitted that there are evidences regarding human inability to explain all the happenings on earth, it would be fair to say that if an issue (purpose of life) remains unresolved for so long, then it definitely hints at the inadequacy of knowledge that tries to define it. There is a distinct difference in analyzing a subject with limited range of knowledge (which is usually considered as rationality) and discovering or realizing something on cognitive plane. As for example, the purpose of life from the biological perspective is explicit; that it wants to maintain the identity of the form it takes (Luisi, 2008), though gradually metamorphosing to the tune of evolution. While this trait also takes place on the temporal plane of humans it cannot be explicit like its counterpart, as this development is intangible, where an individual reaches a new plane of realization on his/her own. While it is true that the individual account of any realization cannot be taken as a proof of the idea it presents, it cannot be ignored either. Then that would defy the process of development, which is evidenced by numerous human inventions that were initially considered as wild imagination of the individuals. However, individual account of any new experience on the cognitive plane is hard to inject into another individual to get the same result, mostly because of the difference in cognitive ability and consequently the great divide among individual perception on anything persists all along. Therefore, sporadic individual accounts of certain realization about the possible purpose of life, such as the accounts of some acknowledged great human beings who repeatedly told about a unique of discovery of our life’s connection with one supreme power, cannot settle the issue for once and all. As for example if someone says â€Å"the purpose of life is to recreate yourself anew in the highest version of the grandest vision you ever had about yourself† (Walsch, 1996), some will believe it, some will refute it and some will refrain from commenting on it. However, â€Å"not believing that there is a purpose of life will not prevent one from discovering it† (How to, 2008). Conclusion Primarily the question of whether there is any purpose of life commands the answer from the depth of perception about life. The above discussion clearly shows that the difference in cognitive abilities prevents humans to align their ideas about the purpose of life. While that seems disappointing, the increasing trend of overall temporal refinement among humans shows promise to settle this issue someday, as imagination and realization both command higher processing ability of   all possible inputs including he ones that even defy the reference frame of the living beings of the earth – that is, the reference frame of light. Over all it seems the discovery of the purpose of life depends on further manifestation of consciousness among humans or among the major part of them to establish it as a proven conclusion. References â€Å"Is there a real meaning and purpose to life?† Web document. Retrieved 2 April 2008,   Ã‚   from http://guide.gospelcom.net/resources/meaning.php â€Å"How to discover your life purpose in about 20 minutes†. Web document. Retrieved 2 April 2008, from http://www.stevepavlina.com/blog/2005/01/how-to-discover-your-life-purpose-in-about-20-minutes/ Luisi, L. P. (2008). â€Å"Does Science See A Purpose In Life?† Web article. Retrieved 2   Ã‚  Ã‚  Ã‚  Ã‚   April 2008, from http://www.cts.cuni.cz/conf98/luisi.htm Requadt, W.E. 2006. â€Å"The Meaning of Life†. Book excerpt. Retrieved 2 April,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2008, from http://www.rationality.net/meaning.htm Walsch, N. D. (1996).   Conversations with God: An Uncommon Dialogue. Putnam Adult,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   1st edition. Warren, R. (2004). â€Å"Purpose Driven Life†. Zondervan Michigan, USA. Book excerpt.      Retrieved 2 April 2008, from   Ã‚  Ã‚  Ã‚   http://pddocs.purposedriven.com:8088/docs/pdl/samplechapters/woeaihf.pdf   

How to Write Essay on Police Brutality in APA Style

How to Write Essay on Police Brutality in APA Style APA style is one of the most popular styles for academic papers. Lets see the main requirements of this style. First of all, the essay should be typed with double spacing and 1 margins from all sides. Its better to choose the Times New Roman font (or similar one) 12pt. Each page should contain a page header at the top. Your essay on police brutality should include several main sections: the title page, abstract, body text and references. The title page should contain the title of the work, your name, college or university. Next step is the abstract. Here you need to write a short summary of the main points of your work. In our case, you point out the problem – police brutality, and list different points of views on the problem (not less than two). If you held a research, you need to mention your research topic and research questions. Abstract should contain between 150-250 words. Before writing body text its useful to create an outline from your notes concerning the subject. In the case of police brutality essay you can point out the problem and develop reasons or arguments. For example, you may use five stages of changing force to brutality: verbal persuasion, then – unarmed physical force, then – force using non-lethal weapons, then – force using impact weapons and, finally, deadly force. You will need to support each stage with examples, it is better to use trustworthy sources. Listing arguments, you need to underline your point of view – that is the purpose of writing an academic essay. Finally, you make the conclusion about the present situation and possible ways of preventing or solving the problem. At the end of your work you need to organize references in alphabetical order. It would be much easier to organize references if at the stage of studying the material you would write down the sources you appealed to.

Essay on Eco-Poetics Reading in The Wate Land by T.S. Eliot

What is an eco-poetics reading of T. S. Eliot’s, ‘The Waste Land’? In this discussion of Eliot’s poem I will examine the content through the optic of eco-poetics. Eco- poetics is a literary theory which favours the rhizomatic over the arborescent approach to critical analysis. The characteristics of the rhizome will provide the overarching structure for this essay. Firstly rhizomes can map in any direction from any starting point. This will guide the study of significant motifs in ‘The Waste Land.’ Secondly they grow and spread, via experimentation within a context. This will be reflected in the study of the voice and the language with which the poem opens. Thirdly rhizomes grow and spread regardless of breakage. This will allow for an†¦show more content†¦Again the description is bleak, (‘the sun beats .......the dead tree gives no shelter, the cricket no relief.’ ) Life-giving water is again absent, (‘the dry stone no sound of water.’ ) And moving transversally forward to section 5 brings the reader into the desertscape where there is an intensification of the oppressiveness . The absence of water is emphasised through repetition: ‘If there were water And no rock If there were rock And also water And water A spring A pool among the rock If there were the sound of water only.’ So dehydrated are the people that they are hallucinating, seeing people who are not there,(‘Who is the third who walks always beside you?’ ) There is the same stagnation that characterises the previous scenes; ‘dry sterile thunder without rain.’ There is an air of menace as ‘red sullen faces sneer and snarl/from doors of mudcracked houses ’ and this menace is realised as the cities of Jerusalem, Athens, Alexandria, Vienna and London