Facilitating the Project Lifecycle the Skills & Tools to Accelerate Progress for Project Managers, Facilitators, and Six Sigma Project Teams Essay

               One of the most important aspects to put into consideration when taking up a project is project risk management. A project risk is an event / condition, which is uncertain that, upon it occurrence brings either a positive or a negative impact on the project. A positive manager should consider this as one of the ten knowledge areas where competence is highly regarded. Risk management is critical, especially to organizations working I multi-project environments and the maturity for risk is high. A wide range of risks is apparent when working in projects involving construction among other engineering work. These risks are mostly attributed to government policy, diversity in stakeholders’ aspirations and the challenges of adding multiple projects. For a good risk management process, there must be a clear statement and understanding of roles and responsibilities, proper skills on technical analysis and the prevailing organizational factors should support th e project. Project risk management involves identifying, assessing and prioritizing of risks: and thereafter putting resources to use in order to reduce, monitor and control those risks that could affect the project negatively and increase realizing of opportunities. This report seeks to outline the knowledge acquired on management of risk in projects. Discussion               All organizations exist for their own different purposes, and that of public engineering organizations in the construction business, the purpose is to deliver a service, which brings a beneficial result in the public/ stakeholders interest. Decisions to pump resources into investments on capital infrastructure are prompted by needs that are meant to enhance the achievement of the major purpose. According to Flanagan and Norman (1993), the benefits of efficient risk management are evident especially in projects involving capital infrastructure because they are dynamic in nature and bring positive cost implications from the construction related decisions. Risk management should be taken as an intrinsic part of capital infrastructure investment decisions mainly because, as project ventures get more elaborate, the role of risk management is exemplified. In regard to this realization, some countries have enacted government policies on constructors emphasizing on th e need to incorporate risk management in capital infrastructure schemes. Risk is therefore, in many occasions, viewed as a condition or event whose occurrence will have adverse effects on the project and may hinder the attainment of set objectives. Hence, risk management relates decisions to such probable harmful effects.                  This philosophical approach to risk management enables the process to be broken down into four fundamental sub-processes. These involve identification, analysis, response and monitoring. The former step of identification is the most critical step because it has the biggest effect on decisions emanating from the process of risk management. Reviewing risk management, in his article, Williams (1995), notes that there is little structured work in publication about typical risks. According to Chapman (1998), as much as risk identification is critical on the risk assessment and response phases, very little empirical evidence is available at this early phase. The heavier task in risk management remains in the analysis and response to the risk, yet the reasoning stands that unless the risks are identified, they cannot be analyzed and responded to.                  For most engineers, the need to have a set out program is critical for it provides an umbrella under which all current projects fall so that an outcome can be delivered massively in general, and greater than the total sum of all others. A program is usually temporary, and flexible; created to direct and oversee the implementation of a set of related projects and activities for the deliverance of beneficial outcomes that relate to the organization’s strategic objectives. Several projects are undertaken under this umbrella. This explicitly differentiates between program management outcomes and project management outputs. However, there is a link between projects and strategy through the program. Risk management is becoming an increasingly important process due to external pressures in existence. However, good risk management is seen as a critical attribute of organizational success in the field of engineering. The assumption that programs are merely extensions of projects should cease to exist because many will tend to reflect program risk management to project risk management (Allan, 2008). Program management is a broad extension of the varied, yet related, projects.                  On projects, it is important to define one or more objective functions like capital expenditure and completion time to represent it to measure the probability of achieving the set targets. Risk management then goes on to model the project’s objectives against the projects variables like costs and the quantity of inputs. These variables are usually uncertain as time goes on, hence the uncertainty of a hundred percent achievement of the objectives set. The most ideal situation would be identifying and characterizing the variables in advance providing that they will remain unchanged by time. This would make it easy to estimate the possible risks and the consequent variance of the project’s objective(s). However, not all project variables can be identified as new variables might surface as the project goes on while the probability of occurrence of the initial variables may vary. The impacts of the initial variables, both positive and negative, m ay change too hence making risk management even more hard (Drummond, 1999).                     Certainty and uncertainty of realizing a project’s objectives are measurable, only ideally. The possibility of a project not breaking even could be considered as a representative of the whole project, and then used in turn to evaluate against variable and try and reduce the risks involved as well as become a basis for decision-making. Some projects may proceed normally in a stable environment, hence making the uncertainty high at the time it is conceptualized. Pro-active planning and making prudent decisions will see the uncertainty reduce. However, uncertainty in complex projects within a changing environment will not necessarily reduce/ diminish as time goes by Chapman (1998). It is necessary to keep on checking on the project’s variables and re-evaluating of the objective function’s status to facilitate adjustments in the project’s strategies. Uncertainty surrounds many parts of a project; hence early resolution of vari ables may not be possible always. Variables change over time leading to exposure to new threats and risks along the way. This fact should not be refuted and a lot of work is required in the planning evaluating phases, where most of the critical work is done. In spite of all the uncertainty and complexity surrounding risk management and project management, it is important to seek methods of improving the project’s base value (Drummond, 1999).                  Conceptualization, planning, and implementation of a project is a complex process that requires management based on set strategic objectives, which vary from time to time. The objectives should be integrative and holistic in the sense that it caters for social, political, environmental, and community aspects. Traditionally, planning in project management should form the basis of planning, alongside other functions of project management including; human resource, time, scope, integration, quality and procurement. These should be the fundamental factors f consideration along each phase. A variety of guidebooks, protocols and codes of practice in the engineering field have been made available for use in risk management in project management. In the United Kingdom, the ‘Orange book’ is a framework that is set to offer guidance on basic risk management concepts and as a resource for developing risk management processes and implementing them I the public sector. It is also aimed at using a risk based decision-making on investment. There have been many more publications and publications aimed at dictating hoe risk management should look like. These guidelines have offered a basis upon which projects are appraised and their investment viability tested. This has enhanced the process and shifted its reception and perception from project risk management to a risk management strategic level (Melton, 2011).                  In engineering and construction professions, program management and project management came to existence due to the changing procurement environment. In the United Kingdom, procurement of infrastructural assets was done in a sequential manner, which involved a clear differentiation in the project life cycle phases. Currently there are three major procurement systems, that is; prime contracting, Design and Build procurement and Private Finance Initiative. These methods were because of the need to adopt integrative and collaborative project delivery methods. The procurement systems have features like framework agreements, the use of specifications that are output based, and more importantly, emphasis on the lifelong value of the structures (Shehu and Akintoye, 2009). The office of Government Commerce has facilitated the change in construction procurement in the public sector too. The agency’s main agenda is to ensure that policies are followed and en hancing promotion of the best performance practices. These systems ensure that the project undertaken are of high quality and are in regard to the set policies and guidelines. These sanctions in the public works and construction sector have acted as strategic risk management tools for they ensure quality assurance as well as proper quality management.                  Project management should incorporate the use of a strategy-based management approach. This will facilitate the integration of planning, risk management and decision-making hence ensuring real time real time realization of an optimum of the project’s strategic objective against its variables. The project’s promoters are not always the investors. Investors are not always actively involved in the management of the project, but invest resources into the project hoping to get dividends. The promoters’ objective, on the other hand, is to deliver a facility that will ensure a long term balanced and financially viable business entity. The project is therefore a compromise between the attainment of investors’ interests and that of the community. Project development should be based on a set of strategic objectives, which stamp the project as a business and entwining project decisions to strategic business decisions. Amid all risks, the project should be planned proactively with regards to its variables and with a focus on the life cycle objective functions (Westland, 2007).                  The life cycle objective functions are functions such as: financially related functions- such as the project’s net worth, satisfaction of customers- those affected by aspects such as safety, project utility, operability, and quality, lastly, due diligence must be adhered to- that is, statutory concerns and policies should be observed especially when the project is located in highly populated areas or is adjacent or near ecological systems deemed to be sensitive (Janet & Tammy, 2005). This factor also goes hand in hand with the ethical code that is supposed to guide the execution of projects. Proactive planning of the project ensures that project uncertainty is minimized in real time. Effective risk management ensures that there is typical conceptualization of projects and their subsequent implementation using strategic objectives. It also ensures any further variables are assessed and managed accordingly to optimize the project’s strategic o utcome, that which of a business entity. Since projects are subjected to changes in objectives and variables due to external factors, it is important to incorporate a continuous risk management process that involves continuous risk and uncertainty management process conducted in real time to bring value to the project manager. Strategies made from risk analysis should be seen as a basis upon which decisions are made going forward. Objectives of the life cycle should be used as the vessel for analysis. Reflective assessment                  Engaging in exhaustive personal research and involvement of the same with groups has incapacitated adequately with sufficient knowledge on managing projects as an engineer. I have come to evolve from a mediocre project manager, thinking that technicalities were all I needed, to a project under-taker equipped with the relevant skills. Undertaking projects with my group and alone was not like undertaking them with my professor. Comparing personal projects and those done in groups, with those guided by the professor, flaws are clear to point out. In my first group project, our then project leader, whose name I will not disclose for discretion purposes, was too impulsive at times and objectives were not achieved as expected because of poor decision-making, even on the most obvious issues. The project resulted in high costs in execution unlike what had been anticipated and took longer. However, it is from the mistakes that my group and I learnt the importance of risk management in project management as an important tool to facilitate proactive planning, rather than responding to results. Another lesson learnt from that experience was the need to incorporate continuous analysis as a way of implementing risk management to ensure real time solutions. However, it is through solving these and other hurdles that the learning process in the field has been enhanced and increased my knowledge. The short yet detailed experience coupled with the many articles and critiques I have encountered have inspired me to get to want to explore more on the field by undertaking and managing more projects to experience more than I have. By initiating and overseeing projects as well as assuming responsibility for achievement of objectives and integration will boost my intuition and judgment on decision-making for future projects and for professional expertise. I know trying to venture into projects of high magnitude is a risk, but the ability to tackle the risk itself is way beyond the risk management of the process and a success would ultimately mean victory on both ends. References Allan, N., Davis, J., 2006. Strategic risks — thinking about them differently. Proceedings of ICE 159 Drummond H 1999. Are we any closer to the end Escalation and the case of Taurus? International Journal of Project Management Flanagan, R., & Norman, G. (1996). Risk management and construction. Oxford [u.a.], Blackwell Science.Means, J. A., & Adams, T. (2005). Facilitating the Project Lifecycle the Skills & Tools to Accelerate Progress for Project Managers, Facilitators, and Six Sigma Project Teams. Hoboken, John Wiley & Sons. http://www.123library.org/book_details/?id=9130. Melton, T. (2008). Real project planning developing a project delivery strategy. Amsterdam, Butterworth-Heinemann. Shehu, Z., Akintove, A., 2010. Major challenges to the successful implementation and practice of programme management in the construction environment: a critical analysis. International journal of project management Westland, J. (2007). The project management life cycle: a complete step-by-step methodology for initiating, planning, executing & closing a project successfully. Williams, T., 1995. A classified bibliography of recent research relating to project risk management. European Journal of Operational Research Source document

Ethical Egoism

Ethical egoism, in my belief, is not the moral theory that men should follow or live by. Simply put, my belief stems from the multiple inconsistencies and contradictions that are inherent in the said normative system. Self-interest and self-preservation, although very valuable, are not, in my opinion, the primary factors that should drive a man’s life. It is because, I believe, by purely following one’s own interests, man fails to consider the greater picture, that being the peace and harmony in society.More importantly, I believe that man can be driven by other desires and motives in his moral actions. Hobbes’ assertion is that man should use his power to preserve himself and to do what he must in order to satisfy his own interests. His fundamental assumption regarding the nature of man is that man is an agent of self-interest who is prepared to harm others in order to obtain what he believes is best for him. Furthermore, Hobbes states that man is governed by hi s own reason and that every man has the right to everything. Such statement is what Hobbes calls the fundamental law of nature.However, Hobbes believes that if it is in the self-interest and preservation of one’s life to enter into a covenant with another, man is bound to abide by such covenant. Contracts are reached when both parties feel that it is in their best interests to enter and agree to the terms. Breaking a covenant or a contract is considered unjust in Hobbes’ view. Hobbes’ idea is that man must submit to certain moral rules out of fear of conflict which is to his best interests. Basically, Hobbes suggested that a human being acts morally because it is in his self-interest to do so.There have been various philosophers who have raised arguments and objections against Hobbes’ views. One of such philosophers is H. A. Prichard. In Prichard’s point of view, there is no need to whether self-interest and morality run in parallel with each other . Instead, he suggests that human beings have reasons other than self-interest to act morally. One such reason is the innate desire in humans to do the right thing. Prichard suggests that having motives other than self-interest allows us to determine whether an individual who has done something moral deserves praise or not.Without the presence of other motives, self-interest will be the only driving factor and thus, will remove any possible distinction between two persons committing the same moral act. Brody’s argument with regards to the basis of morality on self-interest is that human beings can have other motives for being moral. Admitting that all actions are based on the satisfaction of a certain desire, Brody states that humans may have desires for something else other than his own well-being. Brody believes that selfish motives are indeed a possible source of moral actions.However, he asserts that this does not mean that all moral actions stem from selfish motives alon e. In other words, egoism is not clearly established as the sole source of morality. My belief that ethical egoism is not the correct moral theory agrees with Brody’s assertions. Aside from the points that Brody has raised, I believe that ethical egoism fails to consider the possibility that men act not for their own interests alone. The interests of another person may drive the man to act morally especially if such a person is deeply valued. For instance a parent may act morally not for her own interests but for that of her children.Ethical egoism fails to consider that human nature includes certain emotions that are driving factors of one’s actions. Emotions or feelings such as love, care, and affection are also possible motives for actions. These have not been taken into account by ethical egoism. Thus, it is my personal belief that ethical egoism is not the correct moral theory. Reference: Arthur, John. 2005. â€Å"Morality, Religion, and Conscience. † In Ar thur, J. (Ed. ) Morality and Moral Controversies: Readings in Moral, Social, and Political Philosophy. Upper Saddle River, N. J. : Pearson Prentice Hall.

Background The Employee Selection Process

An analysis of the appropriate measures employers must take in order to minimize the risk of hiring unsuitable employees. This paper analyzes methods employers must take to protect themselves from hiring bad personnel especially these days, when violence, sexual arrestment and corporate fraud are increasing in the workplace. The author suggests several steps human resources personnel should take in order to minimize the risk of hiring unsuitable employees. All work environments, big or small, have potential for trouble. Human relationships are complicated in all situations. Thus when workers spend such a large percentage of their days in the workplace problems are bound to happen. If employers stay aware of developing problems and deal with issues as they occur, the risk in the workplace will be minimal. Background checks and references are crucial for control of the problems arising in the work place. Defamation suits and discrimination can be avoided through carefully drafted written policies. Being wary of providing references is not the solution. The employers must work with the employees to draft policies that will be secure, efficient and control workplace problems. Privacy issues can be avoided if the employees know the underlying reasons. Education is the key and hence, human resource managers must work to provide the necessary security for both the employee and employerthrough background and reference checks.

Respond essay Example | Topics and Well Written Essays - 500 words - 1

Respond - Essay Example People need to discard their otherness in the other culture through assimilation. They have to adopt Anglicized names in order to have themselves accepted as normal beings. They do not want to be de alla, for which they have to adopt an identity that is different from one they are born with. Hence, Munoz’s main focus is on the need of people to adopt Anglicized names to adapt in a new culture that is superior to their own. 2. Munoz does not state his thesis statement straight away; instead, he starts with an account of a Mexican woman calling a visitor at the airport, and then describes how his cousins and others in the family changed their names in order to get themselves accepted in the English society. Munoz, much later in the essay, talks about how assimilation affects one’s identity, when he says: â€Å"It applies to needing to belong, of seeing from the outside and wondering how to get in and then, once inside, realizing there are always those still on the fringe† (Munoz, para.17). In the same paragraph, Munoz states how the corrosive effect of assimilation affects an individual’s cultural identity. He states that assimilation results in one culture displacing the other, and this happens when one is not able to sustain two identities in one being, for which he has to leave one and adopt the other that is useful for him in terms of living and profession. One has to give in to the new culture to feel accepted, or in a broader sense, to escape from ethnic/racial discrimination. 3. Munoz gives lists of names to reinforce his thesis statement. He mentions names of his cousins, his grandfather, and others in his family and friends, to emphasize upon his thesis statement. I found it a little bit distracting, although it was helpful in understanding what he really meant to say. A few examples were really necessary to obtain a clear understanding, but I really found it annoying to go through so many names,

Org Behaviour 3 Leadership Essay Example | Topics and Well Written Essays - 5000 words

Org Behaviour 3 Leadership - Essay Example This has been done using the assessment and insight into self assessment, introspection and reflection through the personal mission statement for the development of leadership and finally integration and extension through the personal model of leadership. The self assessment emphasises on the self confidence, and the instrumental and end values of an individual. Moreover it also includes analysing his emotional intelligence, his ways of receiving feedback and incorporating changes as per those feedbacks, and the extent of his innovativeness. This is followed by the development of his personal mission statement, personal values, personal goals and also the personal action steps. The personal model of leadership is developed which emphasizes in his abilities, personality, values. Finally, the gaps are determined and presented with regards to espoused and the desired theories of leadership. Main Body Part 1-Awareness and Insight through Self-Assessment- 1.1 Your self-confidence The ques tions assigned in exercise number 2 are aimed at assessing the self confidence level of the respondents. The questions are structured to assess the ability of the responden

Marketing Research Paper Example | Topics and Well Written Essays - 1750 words

Marketing - Research Paper Example As Pete, the new Managing Director, points out customers do not find even venue enticing anymore. Before shops are given a fresh look to make them more attractive, it is essential to decide which class of the customers, the company wants to target at – such as business class or young couples who want to pass leisure time or ‘as a local community store working closely with neighbourhood partners as Pete points out. Kotler describes ‘product positioning’ as an essential marketing tool to carve a suitable niche as the company cannot hope to serve all segments of the market simultaneously. Product positioning will also help decide advertising campaign and brand positioning keeping in mind the targeted class of customers using scarce resources most judiciously. As Kotler emphasizes that the company needs to shift its focus on buyer wants rather than its needs. Product differentiation is a key strategy that the Roast needs to adopt in its services, product offerings with numerous varieties in its menu so that customers have several options to choose from. Thus, distinguishing company’s product line from the competition is a key marketing strategy that can play a pivotal role to attract targeted customers. Services also play an important role in differentiating with the competition so the company must focus on it as an integral part of the product differentiation strategy. Employees are considered the biggest asset in any organization and they play a pivotal role in success or failure of any organization (Schofield, 2006).

Simplifying Expressions Speech or Presentation Example | Topics and Well Written Essays - 500 words

Simplifying Expressions - Speech or Presentation Example Expressions are solved by moving terms around, combining like terms, applying the real numbers’ properties. There are several ways in which the properties of real numbers help in the simplification of the algebraic expressions. For instance, the distributive property of real numbers is applied to multiply the terms inside the parenthesis with the real numbers outside them which results into the parenthesis removal. Likewise, terms are moved to different places in the expressions with the help of the commulative property of real numbers. Concluding, we have to deal with real numbers in everyday life as the principles discussed in this assignment have application in matters as simple as totaling the price of items bought at a grocery store for the bill to as complex matters as engineering designs and calculations. In all the cases, expressions are solved using the same distributive and commulative properties of real numbers that have been discussed. Hence, knowledge of the principles of real numbers is essential to achieve accurate results in mathematics including

Industrial Repair Case Study Example | Topics and Well Written Essays - 250 words

Industrial Repair - Case Study Example The company management realizes that it is getting difficult for them to attract customers unless the company relocates its facility to ensure easy access to customers. It can either relocate the current facility to some other regions or it can operate two facilities at different locations. The sole objective is to enable the crew to reach customers within 30 minutes drive. The accountants reached the conclusion that if the company opens a facility it will cost $100,000; whereas if it operates two facilities it will cost an extra $70, 000 per year in operating expenses. The company assigned Andrew Morgan as the facility manager to examine if company has to maintain two facilities. Furthermore he was asked to suggest a new location for the company if it has to be relocated. He has to consider both transportation costs and the percent of customers within the time zone of proposed facilities. He can use OM Explorer Solver which gives address and number of existing customers. With the help of OM Explorer Solver he can calculate the time and distance for each customer to reach the nearest

Business Research Methodologies Coursework Example | Topics and Well Written Essays - 750 words

Business Research Methodologies - Coursework Example Both secondary and primary data, have their diverse advantages and disadvantages in any particular study. For this study, secondary data will be useful specifically for the fact that, it will provide with adequate information on trends shown in customer loyalty over the years. It will be useful in marking out the seasons that there are more customers and when they are low. Primary data has a lot more advantages that can be utilized by Haneesh after gaining the insight of the situation from the secondary data collected. It will enable him to carry out both qualitative and quantitative study, focusing on the major gaps identified by focusing on specific subjects. Positivism as a philosophy in a study does not give room for any form of speculation, therefore, its decisions are based on logical findings from a study. Therefore, in his study, he has to use a quantitative study which will enable him observe the customers and at the same time ask very specific questions. A research proposal for this study is of essence and relevant since it provides a framework upon which the study will be conducted. It is useful in determining whether the study will work out before starting off with the study. It provides a plan on all that will be done and the methods used in carrying out every step of the study. Literature review on the other hand, is useful in determining the gap in any particular area of study (Collector & Module 2011). In this case, literature review will provide information on various trends in customer loyalty which will be used as point of comparison with the present loyalty. This will be useful in giving an insight on the factors that determine loyalty of the customers at any point in time. The hypothetical assumption here is that the sales are going down due the fact there is a surge in e-books replacing the hard copies. To find out

Ethics in the Workplace Essay Example for Free

Ethics in the Workplace Essay The case study provided in Craig E. Johnson’s book, Ethics in the Workplace , is a moral and valuable lesson regarding the blurred vision between a for profit and a nonprofit. This example, while it may be considered severe, is an excellent one that leads the reader to more important questions. The question of whether nonprofits should operate as businesses encourages the reader to think about the pros and cons of each. If a nonprofit were to operate as a business, it would basically eliminate the unending concern about funding. Nonprofits, operating as a business, would be able to reap the benefits of for profit companies making more money for the organization but not necessarily the mission. However, this would ultimately lead to more expenses as the budget would have to include higher amounts in staff pay, marketing, and benefits. Another con of operating as a business is taxes. Nonprofits would no longer be exempt from paying taxes and once again, the cost would greatly increase the budget. Probably the most dangerous aspect of a nonprofit run as a business is the loss of the mission and vision. One may be concerned that the need for money and greed will usurp the original mission of the nonprofit. Should businesses operate more like nonprofits? This question is a difficult one to answer. Nonprofits exist for social justice, in many cases nonprofits pick up where the government has left off. While our economy is based on supply and demand, there is societal pressure to be charitable and giving. If businesses were to be as charitable as a nonprofit, they would undoubtedly lose money and perhaps close due to lack of funding, yet, their sense of social justice would be fulfilled. Since there will always be consumers, thus a demand for goods and services, businesses should not operate as nonprofits. As cited in the case study in the introduction by Johnson (Johnson, Ethics in the Workplace, 2007), the Goodwill Branch in Portland, Oregon does compete on the same level as businesses in the area. The Branch pays their top staff over $100,000 with the CEO’s salary at a whopping half a million. Yet, because they are registered as a nonprofit, they are exempt from paying taxes on goods and services, people utilizing the nonprofit get services for free, and they are able to pay their staff lower than competitive wages. If, as cited in the case study, a nonprofit competes on all levels with a for profit business, then the competition must be fair. Either the nonprofit has to begin to pay taxes or taxes for the business should be eliminated. It is important to note, however, that the elimination of taxes would devastate the economy. When it comes to salaries, businesses definitely have the upper hand. Because businesses operate to make money, they can afford to hire only the best in the fields. Nonprofits, relying more on government funding, are unable to afford those astounding costs. Furthermore, nonprofits operate under the definition of social services. For a nonprofit to lose sight of that and pay top dollars for staff, is a vision they can not afford to lose. Thus, executives of nonprofits should in no way be compensated or expect to be compensated at the same rate as their business counterparts. The services offered are meant to be taken advantage of by disadvantaged citizens and pay rates should reflect that mission. In the case study previously mentioned, Michael Miller, the CEO of the Goodwill Branch in Portland Oregon, is receiving a salary of $500,000 not including benefits and expenses. Moreover, some of the workers at that same branch are making below minimum wage. It is immoral for Mr. Miller to receive such a high salary, not only because his staff is making considerably less but more importantly because the salary is not in line with the overall charitable mission of Goodwill. It is unreasonable to believe that staff pay will remain the same as a nonprofit expands. However, certain standards must be in place to substantiate higher salaries. Standards may include: overall budget of the nonprofit and allocation of funds, effective service of the nonprofit based on data taken from all available programs, how the nonprofit compares to others in its region or state, and how well they are fulfilling their mission. The question as to whether this writer would charitably donate to the sight mentioned in the study can best be answered by weighing morals against greed. This writer believes that they would not donate to the sight unless there was documented proof that at least 90% of the donation was going to the people it was intended to help. Since this branch is more likely to document exaggerated salaries such as the CEO’s, it is unlikely a donation would be made to that particular branch.

The Importance of Credit Risk Management in Banking

The Importance of Credit Risk Management in Banking Credit risk implies a potential risk that the counterparty of a loan agreement is likely to fail to meet its obligations as per the original loan agreement, and may eventually default on the obligation. Credit risks can be classified into many forms such as options , equities , mutual funds , bonds , loans and other financial issues as well , which in extensions of guarantees and the settlement of these transactions. (International Auditing Practice Statement 1006 Audits of the Financial Statements of Banks) IS IT Important For the Banks To manage Their Credit Risks ? Risk is always associated with the banking activities, and taking risk is the important part of any banking operation, there is hardly any banking operation without the risk. Most of the bankers are said to be sound when they have a clear overview of what is the amount of risk involved in the current transaction and they make sure that some of the partly earnings are therefore kept for these risks. The granting of any form of credit is the common form for any bank and this risk is very common and this is the source of risks the banks are always exposed to. (Anderson et al, 2001). By being exposed to credit risk banks have been faced with a lot of problems. The banks couple of years ago realised that credit risk is important and the banks need to monitor, identify, control and measure it is very significant. Due to this the effective management of credit risk has become a critical component of approaching risk management. This approach will be especially important in terms of the long term success of any bank. Banks now ensure that they have large amount of capital against any form of credit risks so that they can be in a position to adequately tackle any risks which will be incurred. (Bank for International Settlement, 1999) The credit risk is in the entire portfolio of any bank and also the risk which is associated in individual credits or any other transactions have to be managed adequately. It is always a ascertained that the relationship between the credit risk and other forms of risks need be to considered very seriously in to account, in order to Increase shareholder value through value creation, value preservation and value optimization Increase confidence in the market place Alleviate regulatory constraints and distortions (Amitabh Bhargava ICICI, 2000) The Basel II Accord specifies that banks must have new procedures for measuring against credit risks. Advantages and Disadvantages of Credit Risk Management The advantages of Credit risk management include: Credit risk management allows predicting and forecasting and also measuring the potential risk factor in any transaction. The banks management can also make use of certain credit models which can act as a valuable tool which can be used to determine the level of lending measuring the risk. It is always better to have some alternative techniques and strategies for transferring credit, pricing and hedging options. The disadvantages of Credit risk management include: Deciding on how good a risk you are cannot be entirely scientific, so the bank must also use judgments. Cost and Control associated with operating a credit scoring system. With the existence of different models, it?s hard to decide which to use, more often than not, companies will take a one model fits all approach to credit risk, which can result in wrong decisions. How Banks Measure Credit Risk The level of credit risk faced by a bank is provided by the structure of a bank?s credit portfolio. If the portfolio consists of large amount of loans in a certain asset class then this might be an indication of an increased risk. Similarly the presence of complex financial transactions such as lending may also indicate a larger risk. In general a risk always comprises of two kinds: One is risk exposure and the other one is the uncertainty element, and for the credit risk and the credit quality represents the uncertainty element and credit exposure represents risk exposure. Therefore a bank can assess its credit risk by analysing the credit quality of an obligation and its credit exposure. While assessing credit quality and exposure a bank must consider three issues: Probability of default or any sort of possibility whether the other party which is the counter party will default on the obligation either over the life of the obligation over a specific period of time. The exposure of credit or the amount of the outstanding obligation which again depends on the size if there is any case of default. Rate of recovery this is the extent towards which the credit can be recovered through some banking processes like bankruptcy and other proceedings of settlements. In the last decade or so many banks have started to make use of models in order to assess the risks for their credit which they lend. The credit risk models are very complex and include algorithm based methods of assessing credit risk. The aim of such model is to help banks in quantifying, aggregating and managing credit risk. Despite the method the focus of credit risk assessment stays credit quality and risk exposure. Analysis of the Quality of Credit (Credit Quality) Credit quality is a measure of the that counterparties?s ability to perform on that obligation?. (Contingency Analysis, 2003) A bank adopts different approaches for assessing credit quality of considering loans to individuals or businesses. If it is for small businesses then the credit quality will be assessed through a process of credit scoring. This is based on information obtained by the bank about the party who want the loan. The information which is gathered tends to be about annual income, existing debts etc. Credit score is generally calculated by a formula which is applied to the information which is obtained which gives a number based on it the score is generated. The credit score is a highly accurate prediction of how likely the party is to pay bills, the higher the score the better it looks to the bank. (Curry, 2007) However, assessing a large party is based on credit analysis of the loan done by specially designated credit analysts. This just like mention above is base on credit scoring but it involves human judgement. It involves an in depth analysis of various aspect of the party in question including balance sheet, income statement etc. Also assessing the nature of the obligation is taken into account as well. On basis of credit analysis the analyst assigns that party a credit rating. This allows the bank to make decisions regarding credit. A bank can also use credit ratings to measure the share of the borrowers with creditworthiness in its portfolio and get a clear indication of default risk. Measuring Credit Exposure Credit exposure also needs to be taken into account when assessing credit risk or risk exposure. If for example a bank has loaned money to a business, the bank may calculate the credit exposure rate as the outstanding balance on the loan amount. However, in case if the bank by any chance has increased or extended the line of credit but none of the line have been drawn down then the approach will be different. In this case the risk exposure may seem to be nil, but it does not reflect any sort of right by itself to draw down the line of credit. If the firm gets into any financial difficulty it can be expected to draw on the credit line before any bankruptcy. Therefore in this case the bank may consider its credit exposure to be equal to the line of the credit. Credit exposure as a fraction can also be used sometimes to calculate the credit exposure for the total line of credit. (Duffie Singleton, 2003) How Banks Mange Their Credit Risk Credit risk management practices differ from bank to bank. Generally these type of practices are dependent on the type and complexity of the credit activities which are taken by the banks. In recent years banks have been using models for credit risk management. Bank Credit Risk Management Practices: Yesterday and Today The traditional approach to managing credit risk has been based on establishing a limit of credit at various levels for the individual borrowers an sometimes also based on geographical are and industry type. Also collateral and relationship exiting hardly seem adequate to cope with the declining economics of loan markets. (Gontarek, 1999) These limits specify the maximum exposures a bank is willing to take. Until the early 1990?s , credit risk analysis was limited only based on the reviews of the loans of individuals and most of the banks kept the loans on their books for maturity. (Bernanke, 2006) In recent years banking industry has made strides in managing credit risk. Managing the credit risks is the main focus of any banking operation these days and many banking?s are looking now from transaction management to portfolio management. And have slowly changed from monitoring to practising and also predicting their performance. Banks are still holding onto traditional credit risk management tools but these are becoming more and more sophisticated. Various forms of tools and models have been generated to measure and predict the performance and management of portfolio risks which in turn build competitive advantage. Despite the differences in the credit risk management practices the credit risk management in any bank rest on four pillar of: appropriate credit risk environment Sound credit-granting process or criteria that includes a clear indication of the bank?s target market Appropriate credit administration, measurement and monitoring process Adequate controls over credit risk. (Basel Committee on Banking Supervision, 2000) Therefore whether traditional or modern, credit risk management in banks involves reviewing creditworthiness of counterparties, setting credit limits for counterparties, evaluation of credit risk and reporting credit limits and exposures to management. (Caouette et al, 1998) Recent Trends in Credit Risk Management by Banks The credit risk management is undergoing an important change in the banking industry. Banks have clearly indicated that centralization, standardization, consolidation, timeliness, active portfolio management and efficient tools for exposures are the key best practice in credit risk management. (SAS, 2004) A bank in America is considering having efficient tools for ?what if? analysis and tools. Also another bank is focusing on stress testing, concentration risk, macro-hedges and capital market risk management. (SAS, 2004) The majority of the world?s large banks agree that integrating environmental and broader social issues into their core credit risk management process is essential to managing credit risk in the 21stcentury. (Huppman, 2005) Leading banks including Barclays now view that these non traditional issues as real credit risk variables that potentially affect their client?s bottom lines as well as their own. Quantitative models are being used by banks to measure and manage credit risk. Most of the Commercial bankers have started to opt for making use of the credit risk models for their credit options especially with relation to consumer lending and mortgage. These models are known as credit scoring models and were developed for consumer lending. On the other hand it has been a few years ago where the use of these credit risks models have been implemented successfully and are integrated these days with almost every bank to manage their risk. (Bluhm et al , 2003) In 2001, the UK?s biggest mortgage bank, Halifax, developed a forward looking credit risk management strategy which made use of quantitative models for risk management. (Algorithmics Incoporate, 2001) Similarly HSBC serves over 125 million customers worldwide and is the one of the world?s largest banking and financial services organizations. The world largest provider of quantitative credit risk solutions to lenders (Moody?s KMV) have decide to provide HSBC with this, which will provides HSBC a methodology for rapid, accurate measurement and benchmarking of credit risk portfolio. (Vyse, 2006) Role Of Management in Managing Credit Risk The board of directors of a bank approve and review the credit risk strategy and significant credit risk policies of the bank. The bank?s strategy reflects the bank?s tolerance for risk and the level of profitability the bank expects to achieve for incurring credit risks. These days banks establish and enforce internal controls and other practices to ensure that exceptions to policies, procedures and limits are reported in a timely manner to the management. Due to this credit risk is constantly monitored by the management. Innovations in Technology and Credit Risk Management Credit risk management in banks is also getting affected by innovations in technology. Innovations in technology have made significant improvements in bank information systems. This has also been encouraged by Basel II. The improvements in bank information systems has certainly increased the abilities of many banks and their management process to measure and identify and also control the characteristics of any kind of risk. For example ICBC (Industrial and Commercial Bank of China) the credit management computer system was further perfected with risk alert and conversion functions and it performed effective real-time monitoring on the quality and operations of the credit assets. (ICBC, 2001)

Essay --

The Age of Revolution †¢ A period of political upheaval beginning with the American Revolution, leading through the French Revolution, and ending at around 1848 †¢ Caught up many social groups with diverse motives Forces of Change †¢ Three forces were working to shatter Europe’s calm by the mid-18th century o Cultural ï‚ § Jean-Jacques Rousseau argued for a government based on a general will o Ongoing commercialization ï‚ § Businesspeople challenge the idea that only aristocrats should hold high office o All social levels ï‚ § The population revolution was partly the result of better border policing, which reduced the movement of disease bearing animals ï‚ § Improved nutrition, due to the introduction of the potato †¢ Led to reduced death rates ï‚ § Increase in population leads upper class families to tighten their grip on existing offices †¢ Consequently it becomes harder for non-aristocrats to gain a high post †¢ Population pressure drove many people into the working class, which led to the creation of motives for protest †¢ Population growth sparks a rapid expansion of domestic manufacturing in western...

I Wandered Lonely as a Cloud Essays -- English Literature Essays

I Wandered Lonely as a Cloud Your memories are your treasures, an accumulated amount of wealth that under extreme conditions remind you of the past and define the present, if it be good or bad. A picture for example, is a frame captured in the moving animation of time and is frequently regarded as being worth a thousand words. If one single frame, one dimension, one moment, something so short it can’t even be expressed by time, be valued as a thousand words. Then take into consideration a memory, something which takes into account of all sense, takes consideration to time, mind, emotion and thought, something that has infinite value and is only second to the present and by all means of ever so advancing technology has yet to be mimicked. Yet there is one device that has this ability and has been used for thousands of years, literature. A narrow mined answer would probably be poetry, but even with the extremities of poetry to allow such powerful passages of events; basic literature is still the foundation for every other category including poetry. It works by your mind building the â€Å"memory†, which in turns becomes yours. Your newly acquired memory is unique in itself and nobody else shares it the same. Something that is felt through William Wordsworth’s â€Å"I wandered lonely as a cloud† and expresses such extreme emotion but does in such a manner that allows the reader to evaluate there need for such a place, a place to come back to, to look into their mind and to reminisce th...

Comanche Indians Essay -- essays research papers

COMANCHE INDIANS The Comanches, exceptional horsemen who dominated the Southern Plains, played a prominent role in Texas frontier history throughout much of the eighteenth and nineteenth centuries. Anthropological evidence indicates that they were originally a mountain tribe, a branch of the Northern Shoshones, who roamed the Great Basin region of the western United States as crudely equipped hunters and gatherers. Both cultural and linguistic similarities confirm the Comanches' Shoshone origins. The Comanche language is derived from the Uto-Aztecan linguistic family and is virtually identical to the language of the Northern Shoshones. Sometime during the late seventeenth century, the Comanches acquired horses, and that acquisition drastically altered their culture. The life of the pedestrian tribe was revolutionized as they rapidly evolved into a mounted, well-equipped, and powerful people. Their new mobility allowed them to leave their mountain home and their Shoshone neighbors and move onto the pl ains of eastern Colorado and western Kansas, where game was plentiful. After their arrival on the Great Plains, the Comanches began a southern migration that was encouraged by a combination of factors. By moving south, they had greater access to the mustangs of the Southwest. The warm climate and abundant buffalo were additional incentives for the southern migration. The move also facilitated the acquisition of French trade goods, including firearms, through barter with the Wichita Indians on the Red River. Pressure from more powerful and better-armed tribes to their north and east, principally the Blackfoot and Crow Indians, also encouraged their migration. A vast area of the South Plains, including much of North, Central, and West Texas, soon became Comanche country, or Comancheria. Only after their arrival on the Southern Plains did the tribe come to be known as Comanches, a name derived from the Ute word Komdnteia, meaning "enemy," or, literally, "anyone who wants to fight me all the time." The Spaniards in New Meadco, who encountered the Comanches in the early eighteenth century, gave the tribe the name by which they were later known to Spaniards and Americans able. Although the tribe came to be known historically as Comanches, they called themselves Nermernuh, or "the People." The Comanches did not arrive on the South Plain... ...orld War ll. accelerated the breakup of Comanche society as members of the tribe left to find jobs in the defense industry or join the military service. In the postwar years, the Comanche population continued to disperse in search of economic opportunity. In the 1960s the Comanches, encouraged by a resurgence of Indian nationalism, began to work together to rebuild their society. They underwent important political changes because of that initiative. They seceded from the Kiowa-Comanche-Apache Intertribal Business Committee, which had served as their government since passage of the Oklahoma Indian Welfare Act of 1936. Although they maintained ties with the Kiowas and Apaches, the Comanches established their own tribal government, which operates in a bustling complex near Lawton, Oklahoma. In 1995, the Comanches had an enrolled tribal population of 9,722 scattered across the United States. For them the pow-wow, or dance gathering, had become an important method of maintaining Comanche kinship. The People are also united by pride in their rich Comanche heritage, an element that has remained constant through years of tumultuous change. Comanche Indians Essay -- essays research papers COMANCHE INDIANS The Comanches, exceptional horsemen who dominated the Southern Plains, played a prominent role in Texas frontier history throughout much of the eighteenth and nineteenth centuries. Anthropological evidence indicates that they were originally a mountain tribe, a branch of the Northern Shoshones, who roamed the Great Basin region of the western United States as crudely equipped hunters and gatherers. Both cultural and linguistic similarities confirm the Comanches' Shoshone origins. The Comanche language is derived from the Uto-Aztecan linguistic family and is virtually identical to the language of the Northern Shoshones. Sometime during the late seventeenth century, the Comanches acquired horses, and that acquisition drastically altered their culture. The life of the pedestrian tribe was revolutionized as they rapidly evolved into a mounted, well-equipped, and powerful people. Their new mobility allowed them to leave their mountain home and their Shoshone neighbors and move onto the pl ains of eastern Colorado and western Kansas, where game was plentiful. After their arrival on the Great Plains, the Comanches began a southern migration that was encouraged by a combination of factors. By moving south, they had greater access to the mustangs of the Southwest. The warm climate and abundant buffalo were additional incentives for the southern migration. The move also facilitated the acquisition of French trade goods, including firearms, through barter with the Wichita Indians on the Red River. Pressure from more powerful and better-armed tribes to their north and east, principally the Blackfoot and Crow Indians, also encouraged their migration. A vast area of the South Plains, including much of North, Central, and West Texas, soon became Comanche country, or Comancheria. Only after their arrival on the Southern Plains did the tribe come to be known as Comanches, a name derived from the Ute word Komdnteia, meaning "enemy," or, literally, "anyone who wants to fight me all the time." The Spaniards in New Meadco, who encountered the Comanches in the early eighteenth century, gave the tribe the name by which they were later known to Spaniards and Americans able. Although the tribe came to be known historically as Comanches, they called themselves Nermernuh, or "the People." The Comanches did not arrive on the South Plain... ...orld War ll. accelerated the breakup of Comanche society as members of the tribe left to find jobs in the defense industry or join the military service. In the postwar years, the Comanche population continued to disperse in search of economic opportunity. In the 1960s the Comanches, encouraged by a resurgence of Indian nationalism, began to work together to rebuild their society. They underwent important political changes because of that initiative. They seceded from the Kiowa-Comanche-Apache Intertribal Business Committee, which had served as their government since passage of the Oklahoma Indian Welfare Act of 1936. Although they maintained ties with the Kiowas and Apaches, the Comanches established their own tribal government, which operates in a bustling complex near Lawton, Oklahoma. In 1995, the Comanches had an enrolled tribal population of 9,722 scattered across the United States. For them the pow-wow, or dance gathering, had become an important method of maintaining Comanche kinship. The People are also united by pride in their rich Comanche heritage, an element that has remained constant through years of tumultuous change.

He Steps in the Planning Process Essay

Breaking them down and justifying the reason of choosing them as way to anticipate the outcomes of these goals. It will be a must to make these objectives clear, specific and enough information, such as dividing them in sectors or even in departments in order to guarantee realistic objectives and showing the opportunities as well as problems that the company will experience on the course of the activities. Thirdly will be a the stage of Drawing up Premises. This will involve the establishment of planning assumptions, for instance, to show the future environment in which the plans are expected to occur (Cronje, 2004). The setup of premises is vital to the success of planning and before plans are prepared, the assumptions and conditions need to be defined in order to make possible prediction of the events or activies to happen in the future. Therefor contingency plans may be prepared for alternate possible situations. The fourth stage on this process will be Development of Various Course of Action as a way to establish alternative ways in which the identified goal can be achieved. It is on this step that as a manager will need to outline the tasks required to meet the objective, as each goal should have a task or projects associated with its achievement. Step five will be Evaluating Alternatives, it is important to bear in mind that the alternatives defined in the previous step need to be evaluated in terms of various factors, including the planning premises developed in step 3. Prioritizing goals and tasks is about ordering objectives in terms of their importance, so the tasks deemed most important will theoretically be approached and completed first. Because the prioritizing process may also reflect steps necessary in completing a task or achieving a goal. On the step six, Selecting a Course of Action is the result of step five. A management plan should include a contingency plan if certain aspects of the master plan prove to be unattainable. The selection of course of action can be incorporated into each segment of the planning process or for the plan in its entirety. The seventh step is Formulating Derivative Plans, it involves the drawing up of plans which support the initial plan says Cronje, 2004. Once the goal are defined and planning premises are identified, management can formulate plans and strategies for the accomplishment of desired results. Although the responsibility of planning belongs to the managers, the subordinates ought to be consulted, as the are the one who will curry out the development of the activities. The available alternatives should be evaluated in the light of objectives and planning premises. If the evaluation shows that more than one alternative is equally good, the various alternatives may be combined in action. The last step on this process will be the Budgeting, it serves to establish the resources available for the manger to carry out the plans and achieve organizational goals Cronje, 2004. In order to any business plan be possible we must have financial and human resources projections that will make the goals achievable. Depending on what to achieve a management plan may identify the number of people required how much money will be needed for instance. Reference: Du Toit, Erasmus and

Exploitation of Teenagers Essay

Our Indian society is far better than the rest of the universe from the point of view of culture as well as conventions and ways of living but on the other side, if we glance into our society, it has many social and political and economical evils such as bride burning, dowry system and dowry death, corruption in educational system, problem of illiteracy in India, domestic violence, communalism, injustice, crime against children, unemployment in India, suppression of human rights, poverty. Some of the problems have been cast off from its core by the social propaganda and social awareness and education and there are still such unanswerable problems which must be removed from the society only through the individual consciousness. Literature is an echo or reflection of the society and that is why authors have a direct association with the society and its values. They have always been successful in the vivid portrayal of the colourful and well cultured society. At the same time they never hesitate to show a dirty and filthy image of the same society. One of the major themes in all genres of literature is social issues or problems. If we observe the present Indian society, the major problem that has taken place and has been most prevalent in the Indian society as well in the whole globe is the problems of teenagers. Childhood is one of the greatest and valuable periods in human life. It is that phase of life where a child is free from all the tensions, fun-loving, to play and learns new things, and is the most innocent of all the family members. This age of a child or teenager is of enjoying the naughtiness and also the time of learning and making career. If the teenagers work taking the whole family’s responsibility instead of learning what will be the future of the nation? The issues relating to the exploitation of teenagers should be high on any Government’s agenda. Children should be on the first call on agenda of human resource development not only because young children or teenagers are the most helpless but because this age is the institution of lifelong learning and human development is totally dependent on these crucial early years. The constitution of any teenager’s social, emotional, mental background is depended on the primary stage of childhood. Children or teenagers are considered as the future of any nation and as the power and muscle of the nation lies in a healthy, protected, educated and well developed child population. Child abuse is covered in secrecy and there is a great conspiracy of silence among all the administrative power around the entire subject. Existing socio- economic conditions also render some children vulnerable and more at risk to abuse, exploitation and neglect. All the major or minor problems have their root causes from which it stems out. The Concept of Exploitation The awareness of this new phenomenon first emerged several years ago in Latin America, and more particularly in Asia. But the complete understanding of the term exploitation came into existence after many decades of the people’s slumber in the form of Karl Marx, the first revolutionary against capitalism and industrialism which are the basic factors of exploitation. He was a revolutionary by nature. He strongly believes: The worker becomes all the poorer the more wealth he produces, the more his production increases in power and range. The worker becomes an ever cheaper commodity the more commodities he creates. With the increasing value of the world of things proceeds in direct proportion to the devaluation of the world of men (Kreis 1). Thus Marx was against industrialism and capitalism that victimize the people through the medium of various instruments yielding exploitations. Marx argued that the change in socio-economic conditions occurred through organized revolutionary action. He argued that capitalism would end through the organized actions of an international working class, he did not believe in communism to be established; he used abide the people to accept reality-an ideal to which we will have to adjust itself. He believes that there are only two communities 1.Abuser and 2. Abused people. Then Came Lenin Vladimir, a Russian Marxist revolutionary and then Stalin came with his own revolutionary thoughts. In India, Dr. Baba Saheb Ambedkar, came into the form of semi-God figure, worshipped by the down-trodden people and untouchables of India. He enriched the lives of exploiting caste by awareness, revolution and by granted them the basic human rights. Gandhiji also completely advocated him his actions to eliminate the wrongs done towards low-caste and exploited people. Exploitation has a strong relationship with the society as in the society there are many people who are being exploited or manipulated for the benefits of others. The term exploitation of teenagers basically has two meanings. One is to make use of someone for specific purpose whose age is more than twelve and less than twenty, and the second one is to manipulate someone or something in an unjust or cruel manner. In the simplest of words, the term exploitation refers to using another person’s labour without offering adequate rewards including all kinds of abuses as physical, verbal, emotional, sexual, psychological and mental. Exploitation of Teenagers as Reflected in Mulk Raj Anand’s Untouchable and Coolie Dr. Mulk Raj Anand’s two Novels Untouchable and Coolie are the real representation of the condition of our society i.e. the phenomenon of exploitation of teenagers. Mulk Raj Anand was a man of realism and the characters of his Novels are more real and universal rather than subjective i.e. individual. Most of his writings are directly or indirectly investigating deeply the social process. To Anand literature is an expression of society and the large majority of questions raised by him are social questions: question of tradition and convention, norms and genres, symbols and myth. Untouchable and Coolie are not only literary pieces became well known which talk about the behavioral pattern of untouchablity and the people deprived of socially, culturally, religiously and but because of several exploitations of people including innocent children of that period. Undoubtedly Untouchable is Anand’s modern work which is the image of his society’s trodden and exploited class. This book is considered to be an autobiographical note which came out as a form of his experiences. When Anand was a child, his father was employed as a Subedar in the Indian Army. During those days Anand mixed with the children of leather-workers, washer men and sweepers and came across their real daily life and its realities. This association and attachment continued till the days of his youth. Hence this Novel is the authentic document of his life’s incidents. Untouchable is the story of the depravation of outcaste people and at the same time of the exploitation of teenagers. It basically deals with the different teenagers’ problems like Bakha, sister Sohini, his brother Rakha and some other his outcastes friends like Chota and Ramcharan we come across during their a day’s activities. Coolie is also a masterpiece depicting the reality of life. The title is very apt, suitable and reasonable as the story of the Novel revolves round a boy named Munoo, a son of a porter who comes from his village to come out his poverty and works at various places. The peak of darkness of exploitation is expertly described by the author. The Novel also shows the highest level of inhumanity when poor Munoo works at socially, economically, and politically higher classes of Indian society. The Novel shows his adventures and journey of exploitation from servant, factory worker, rickshaw driver to a child labourer. There is a large difference between social evil and social problem. A definition of a social problem may be suggestive of state of affairs which are not favorable in society and people searching for the practical cure. On the contrary social evil indicates more complex, threatening and indescribable, may an implication of more realism, a degree of skepticism and gloom whether any remedy can be found. In everyday speech, both the terms are often used rhetorically and in substitution. There are many subjective and objective elements of social problems. Social problem includes many social forms and all share two important elements: an objective social condition and a subjective social condition. The objective element of a social problem refers to the existence of a social condition. Generally we learn about social condition through our own life experience, through the media and education. The subjective element of a social problem refers to a personal belief and view that a particular social situation is harmful to the society or to a segment of society, it should and can be changed. We can take an example for illustration. We know that poverty, racism, violence, pollution, crime. They are not considered to be social problems they diminish the quality of human life. Combination of these subjective and objective elements led us to certain efforts. Every individual needs to take steps in order to make the nation a better place to live in. Mulk Raj Anand is considered to be God or Messiah in backward castes and exploited class just because of his brilliant works which describe down-trodden and poor India’s social, political, and cultural conditions. The Novels Untouchable and Coolie, which communicate the abuses of an exploited class- an untouchable boy in Untouchable and a waif, Munoo in Coolie. Untouchable and Coolie are the only Novels in which Anand has presented the realistic picture especially problems and exploitations of teenagers of the early decades of 20th century in India to reveal the social background with the unique observation of social reformer. Anand has not presented the teenage character in particularly but in a general way. The writer has not only painted his works with the idea of keeping his literary pieces mirror up to the Indian society but also made it mandatory to think about the masses, about the sufferers and abused people and provided ideal solutions. Untouchable and Coolie are legendary stories of two teenagers Bakha and Munoo, appear among the people of the modern society to tell their problems, abuses and exploitations they endured. Bakha and Munoo are the symbolic representatives of the whole teenage class of the present day who give a voice to the predicament of the mute humanity in odd circumstances. Anand has not presented the adolescent characters in particularly but in a general way. Like G.B.Shaw, Mulk Raj Anand is considered to be a great thinker and reformer of the society. He succeeded in doing so by disturbing his readers putting the puzzle-like problems before the society like Shaw and never put a solution of a particular problem. No writer before Charles had handled the English people, similarly no Indo-English writer before Annad has devoted a strong sympathy to the poor, exploited class and neglected part of the society. The underdog protagonists Bakha and Munoo in both the Novels seem to sail in the same boat as far as personal and subjective suffering and exploitation is concerned. There is a parallel central theme in Untouchable and Coolie – social exploitation, exploitation of the poor and the under-privileged class by the forces of capitalism, industrialism and colonialism. In Anand’s Coolie, Munoo is denied his fundamental rights to life and happiness and is exploited and made to suffer, till he dies of consumption. The Novelist makes it quite clear that Munoo is not the only victim of such exploitation. He represents millions of those for whom such exploitation is the lot of everyday life. Both these Novels have been written with a purpose. These Novels are powerful condemnation of modern capitalistic Indian society and feudal system with the shameless and tragic exploitation of the underdog and poor which is also ready to sacrifice the poor teenagers and children who face the difficulties without protest. Both the protagonists desire to live but the society does not allow them to live. They die of exploitation, poverty and hunger. Thus, only a single problem that has attracted the attention of most of the writers, philosophers and administrators is the only exploitation of teenagers which can be possible to eradicate of this planet only through application of more possible improvements that can be beneficial for the teenagers. One of the helpful components is education which can help in relieving this major evil in the society. In the first Novel Untouchable we can rightly observe that Bakha became a victim of the society who has high aspirations of life which have been suppressed not only the customs and traditions but also by the dirty politics and Government. Bakha is seen, saved by the man emerged out in the end of the Novel like a real God in the form of Gandhi who has started the remedial works of the society not by the mere talks and philosophies but by the real implementation of the ideas he has. However in the real life who will be a benefactor person of these downtrodden and exploited people. This is a total responsibility of the Government and administrative people who are observing and enjoying the joyful moments just like an audience of a circus that need a complete meditation on this particular subject to take reforming steps in relation to this harsh reality. In the second Novel Coolie we can notice the same anguish scenario but with a different view. Munoo, hero of the Novel reveals real social conditions but not through a single day of his life but through the full-fledge life that might be a great trick of the writer not only to develop the discourse of the character of poor Munoo, but the silence and mum that is still prevalent and ever last among the heartless and unkind society as well as the administrative people even after the death of an innocent boy Munoo. This is not a single teenage boy who lives a hell-like life, is sacrificed on the altar of social treatment and Government’s indifference towards this burning social dilemma but there are many teenagers sacrifice themselves in the same manner which can create a shocking result which is merely unimaginative for the whole globe. Poverty Poverty is considered to be the first and foremost root cause of being exploitation of the teenagers. Poverty is one of the major issues, attracting the attention of sociologists and economists. It is such a situation in which a person fails to maintain a living standard adequate for a comfortable lifestyle. Poverty plays a significant role in the formation of public policy and has a centre of attraction to the National Policy Agenda forever five decades. Though India boasts of a high economic growth; it is shameful that there is still large scale of poverty in India. Poverty in India can be defined as a situation when a certain section of people are unable to fulfill their basic needs. India has the world’s largest number of poor people living in a single country. Out of its total population of more than 1 billion, 350 to 400 million people are living below the poverty line. Nearly 75% of the poor people are in rural areas, most of them are daily wagers, landless labourers and self employed house holders. The same scenario of anguish as presented in the Novel can be seen in the present society: The outcastes’ colony was a group of mud-walled houses that clustered together in two rows†¦.there lived the scavengers, the leather-workers, the washer men, the barbers, the water- carriers, the grass-cutters and other outcastes from Hindu society. A brook ran near the lane, once with crystal- clear water, now soiled by the dirt and filth of the public latrines situated about it, the ordour of the hides and skins of dead carcasses left to dry on its banks, the dung of donkeys, sheep, horses, cows and buffaloes heaped up to be made into fuel cakes, and the biting, choking, pungent fumes that oozed from its sides (Anand 1). Social division This great affecting major problem of the society came into existence when the Hindu society has been divided. That is why it is the main root or origin of this problem. Hindu society has traditionally been categorized into four classes, called Varnas the Brahmins, the Kshatriyas, the Vaishyas, and the Shudras. The first belonging to this Varna is called Brahmanas. Their function is to learn and to make share of the learning and to preserve the eternal knowledge of the race. The Brahmins are devoted to their works of teaching and preaching. Kshatriya is the one who belongs to Kshatra varna. This is the forms the military defense group, the martial class and administration of the society. They contain administrative and wielding political power and ruled the states. The Vaishyas are divided into the category of farming and business and that is the reason why they were pre-occupied with the works of selling goods to the others. Vaisya is the creative class of the society, and their primary occupations are trading and business and they are called merchants. Shudra is the lowest in the traditional four-section division in the Hindu caste system. The Shudras have classically lived lives of service. Slaves were often classified as Shudras, as were leatherworkers, blacksmiths, maids, cooks, and so forth. They have typically not been accorded the same rights as higher castes, forced to use different temples and public facilities. Thus the Gita declares: â€Å"The work of the Brahmins, Kshatriyas, Vaishyas, and Sudras is divided according to qualities born of their own inner nature† (Wikipedia 1). Some relieving solutions Common education system Every child and citizen of India is eligible to get equal type of education. As we know parallel education system created by upper class and the rich people but limited to these classes only. We can say that this system is totally based on class and caste. Kothari Commission (1964-66) has presented the common school education system both for the poor and rich people. Almost all political leaders, upper class administrators support this system. But the little children and teenagers are sent to the private schools and English medium schools that charge high fees which are not affordable for the poor, down trodden and exploited class. It is very noticeable that neither State Government nor the Central Government has succeeded to cease these schools and will not dare for the same in the future also. Although the Government has opened a number of schools for the underprivileged and exploited class, how many benefits they got still now? The Government runs schools for the poor people like Bakha and Munoo but practically failed to make the major part of the deprived people educated. The reason also may be a lack of awareness among the down trodden people or a lack of Government policy. In one of the incidents of the novel Untouchable, we can observe that Bakha, at the British Barracks, shows his extreme wish of being educated to his uncle and he also weeps for it. His father tells him that schools and education institutions are made for the sahibs only not for the downtrodden and exploited class. In this way, we can rightly observe the lack of common education system at the time of British still continues today also. The same education discrimination is prevalent in the recent age. It is very clear that the upper class and rich people who are the holders of high degrees and well educated come in contact with the poor and exploited class and impose them to be abused. Because they are all illiterate and do not have degrees for getting good jobs just like the high class people which pathetic circumstances after all direct them to a single path of leading life and that is exploitation alone. The problem of social, economical and educational inequality can be solved only when the Government takes over the management of all the non-governmental schools by making necessary laws in this connection. In the near future if it is not done, the problem of inequality in all the grounds will remain same as present time. There is an intimate kinship between education and life. Education is the one tool that can drive one from the world of several exploitations and abuses to the world of equality. * Incentives to needy families to send their children to school regularly till they reach the age of 17 or 18. * Pre-metric and post-metric scholarship scheme for children of families employed in occupations such as scavenging. All children of such families, regardless of incomes, will be covered by the scheme. * Provision of remedial courses to improve their study and prospect for further education. * The recruitment of teachers from the low-castes who are being the target of exploitations. * Increasing of residential schools, including ashram schools should be established in a large numbers so that the parents can take care of their children very well. * The curriculum of education should be designed by keeping an eye on both rich and poor classes and as a device to encourage children and teenagers to get educated. * To provide them an education loan of a small amount without a single penny interest which provides in muster to make their children educated and employed. * The state should not discriminate against any citizen on the basis of religion, caste, race, sex by keeping in mind traditions and customs at school or colleges or any institution of learning. * Primary and secondary should provide education irrespective of cast and creed. Anti-poverty programmes The most important component of eliminating of the exploitation of teenagers is the socio-economic and anti-poverty programmes meant for the families socially and economically handicapped ready to sacrifice their children only for monetary significance. Gujarat is one of the most growing states of India now-a-days. Though the state is developing in all the directions, it is facing much more problems simultaneously; one of them is poverty. The Chief Minister of this state launched state-wide Abhiyan of Garib Kalyan Mela from Amreli which is the first major step taken in the whole India to reduce poverty. It has been announced of organizing around 50 Garib Kalyan Mela across the State, providing economic assistance to the poor and marginalized people. One of its essential objectives of this programme is to provide financial help which is the source of all the harms of the exploited and deprived people. Nearly forty thousand people, including slum dwellers and citizens Below Poverty Line (BPL) of Visnagar under this programme attained a full economical assistance at the Garib Kalyan Melo’. However, the elimination or eradication of the poverty in India has not reached to a definite estimated level because of indifference of Central Government of India towards the reality of poverty. Such programmes related to poverty must be organized nationally to bend each state in these activities. Central Government of India totally failed to be conscious of the severe conditions of poverty. Present central Government need to be sensitized the administration so that such programmmes can get a start to lead actives and inspiration which have already started in a single state or two. In short, the schemes or programmes for reducing poverty as considered the first and primary source exploitation should be introduced and updated time to time by the central Government. On one side children and teenagers are considered to be the power and strength of the near future. On the other side, this social evil of exploitation is increasing day by day and taking its magnitude form. The day will come when half population of the children and teenagers will be exploited in India and these situations will create a great obstacle in the development of the nation. Therefore everyone should admit this harsh reality which cannot be cast off from its root unless and until the government is awake and show seriousness. References Anand, Mulk. Untouchable. Pune: Mehta Publication, 2003. Print. Anand, Mulk. Coolie. Noida: N.p. Penguin Books India, 1993. Print. Kreis, Steven. â€Å"Lecture on Modern European Intellectual History Karl Marx 1818-188.† The History Guide. N.p. 30 Jan. 2008. Web. 11 Nov.2010. â€Å"Varna (Hinduism).† Wikipedia the Free Encyclopedia. N.p. n.d. Web. 12 Nov. 2010.

Mountains: Volcano and Mid-ocean Ridges

Volcanic mountains are mountains that form when molten rock erupts onto the earth's surface. They can either form on land or in the ocean. The Cascade Range in Washington, Oregon and northern California is composed of volcanic mountains. Some of the largest volcanic mountains are found along divergent boundaries, which form the mid-ocean ridges. The mid-ocean ridges have huge volcanic mountain chains that run through the Atlantic, Pacific and Indian Oceans. The mountains in the mid-ocean ridges can actually grow tall enough to create islands such as Iceland or the Azores. Other volcanic mountains can form over hot spots, which are pockets of magma beneath the crust that erupt onto earth's surface. The Hawaiian Islands are actually the tops of really high volcanic islands that have formed over a hot spot on the sea floor. The main Hawiian island is actually a volcano that is about 9 km above the ocean floor, with a base that is about 160 km wide. Almost 4 km of this island is above sea level. Folded mountains Folded mountains make up some of the highest mountains in the world. Folded mountains commonly form along boundaries, where 2 continents are colliding. They tend to look like an accordion. Some really complex folds can be found in parts of the Alps, Himalayas, Appalachians, and Russia's Ural Mountains. These long mountain chains also show extensive signs of folding. block mountains lock mountains are formed when parts of the earth's crust has been broken off into large block mountains are formed when two simultaneous blocks of land rise above or fall down leaving its middle part behind, when magma pushes up and forces top layers of rock (elastic) up with it. An example is the Flinders Ranges in South Australia. Domed mountains, although have broken (plasic) and move up as a ‘chunk'. A fault block mountain is a mountain or range formed as a horst when it was elevated between parallel normal faults. A horst is the ra ised fault block bounded by normal faults.

Importance of Space Exploration

Space exploration is the discovery and exploration of outer space by means of space technology. [1] Physical exploration of space is conducted both by human spaceflights and by robotic spacecraft. While the observation of objects in space, known as astronomy, predates reliable recorded history, it was the development of large and relatively efficient rockets during the early 20th century that allowed physical space exploration to become a reality. Common rationales for exploring space include advancing scientific research, uniting different nations, ensuring the future survival of humanity and developing military and strategic advantages against other countries. Various criticisms of space exploration are sometimes made. The Importance of Space Exploration Outer space is the provider of an endless source of questions for scientists. Its enormous proportions are seemingly endless and interesting, and the knowledge garnered on the subject is very commonly well received by the supporting public. Nowadays in a time where economic recession is threatening to cut the funding necessary for space travel, how can we justify it? On the positive side of things, space exploration helps scientists answer a lot of earths' questions. That is a definite pro. Space exploration has proven immensely helpful in determining the theories of where earth came from, like the Big Bang. It also helped scientists single out what elements need to be present for an environment to sustain life. This can prove invaluable, especially if humans do end up completely destroying earth. We need that knowledge in order to find a new planet, right? Hopefully it won't come to that. Space explorations' biggest pro is that it has given scientists content and examples to compare our earth to. This makes it easier to answer questions that would prove to be almost undecipherable otherwise, without thousands if not millions of years of study. Also, the invention of technology used in space exploration was essential for the advancement and development of many helpful technologies widely used today. In other words, without space exploration we would know a lot less. Now, on the other side of the argument, a con of space exploration is that while being focused on the far reaches of the galaxy scientists neglect what we should be studying right here on earth. Oceans make up the largest percentage of our planet yet we know less about the deep sea than we do about stars thousands of miles away. Space exploration has produced technology which can take humans to the inhospitable vacuum on the moon, yet there is not too much thought or effort going into exploring the deepest sea trenches, even though there is now proof that life exists down there. All this fascination and funding going to finding life in outer space while the actual life on the darkest corners of our own planet goes unstudied. Space exploration is also responsible for producing thousands of jobs. There are people needed for all sorts of tasks involving the complicated process of exploring the galaxies. Of course, those jobs would probably exist too if the preferred field of exploration were to be the oceans. This brings about the money issue, which might be its biggest con. Space exploration and all its technological advances come at a very high price. However, it was money well spent until now that government is undergoing major budget cuts to abate financial crisis. Which is more important, knowledge or health care? This is unarguably a big concern. When weighing the pros and cons of space exploration, it is all a matter of relativity. Science should pay more attention to our own planet before focusing on others, but it is undeniably a fact that focusing on those others through space exploration has helped us understand earth a whole lot better.

News during the Vietnam War Essay Example | Topics and Well Written Essays - 1000 words

News during the Vietnam War - Essay Example Americans were against communism, and therefore, sent soldiers to Vietnam. The foremost reason for the Vietnam War was to stop the northern region, led by Ho Chi Minch, to take over leadership forcefully. They were against the government, and had planned to overturn the ruling authority to take control of the country. Vietnam War is the longest war that has been witnessed in the world history. It ended when Americans withdrew their troops after realizing their goals. The Vietnam War resulted in misunderstandings between countries worldwide, especially owing to the ideological differences. In this essay, the Vietnam War is discussed in detail and news the media broadcasted across the world highlighted. During the war, the public had been exposed to the activities happening at the Vietnam War fought in Vietnam through media. This explains why human beings are more interested in revising history rather than understanding the meaning of the war to people (Samantha). The story about Vietnam War was wrongly broadcasted in the news, magazines, books and journals. This made people have negative mind-sets toward the war. Surprisingly, the Vietnam War is greatly misunderstood than the history of Americans, because the media gave distrustful reports about the war results, hence, the citizens received incorrect information. This affected negatively the way people associated with war, which was meant to promote peace and stop Vietnam government form being overturned by the dictators. The negative reporting of the Vietnam War has caused many individuals to forget the essential details about the war. The production of books, magazines, articles and documentaries by various artists has spread the message of Vietnam, as myths rather than suppositions. Kennedy condemned the media houses that published irrelevant information. The Washington office and Kennedy’s administration involved themselves in the consulting editors of the top media house in America. They accused the editors of publishing wrong reports about the Saigon Press Corps. This made the American government to clash with reporters and the media house that confused the citizens by giving wrong information to the people. The big question from the press was whether USA had joined the war to help the Vietnam country or they wanted to prove their potency as a world superpower. The media is accused of giving irrelevant information to the public, creating several considerations. According to research done, the press and journalist only gave two thirds of the report as accurate information got from the Vietnam War. The main motive of the press and the media house were to elevate the sales of the literature they pro duced, since people were eager to get information on how the war was proceeding. They also lacked the source of getting information; therefore, they were forced to twist the stories to appeal to the citizens (Rhodes). The information looked attractive and people purchased the magazines and books. Vietnam War was the longest war ever in world’s history, and this made it unmatched. Therefore, people wanted to know more about the developing stories of the historical war. The information published by the press and the media houses was condemned by the American administration and most journalists faced trials to substantiate their reports. Conversely, the media also played an imperative part during the war since it was able to update and inform the world the real situation on the ground. It updated the world with current news making headlines, hence reducing the tension in citizens. Therefore, the media should be watchful in transmitting insubstantial issues to the populace. The n ews broadcasted during the war was spread by the media, which was exceptionally active and determined

Please feel free to add appropriate title, I couldn't think of Assignment

The Use of Social Media and the Internet to Provide Transparency in Services - Assignment Example Thus, firms are required to maintain transparency in providing information through online portals like social media. Facebook, Twitter, and other social sites are gaining popularity among global stakeholders. Such portals are used in accessing company data, financial figures and communicating with the management (Weinberg, 2009). Contemporary businesses are facing various challenges like the financial crisis and changing customer demands. Major firms are raising funds from equity market of different countries so firms are required to select the social media channels in terms of sharing their key information (DeJong, 2014). Stakeholders are seeking for virtual access financial and administrative content before investing in any organization. Information needs are increasing in the service sectors. In such segment, customers are requiring information on various factors like service features, value-added features, and pricing of service seasons. Such information will be helping customers in making the purchase decisions (Gordon & Armstrong, 2011). From the above graph, it has been observed that the peoples of 18-24 years age are using the social media majorly. However, peoples from all age groups are using social media. They are seeking for information on the service quality or price range. In the financial service segment, peoples are concerned about the risk of investment. Financial crisis reduced the potential for return and customers are seeking for actual and unbiased reviews on various investment funds. In case of hospitality and restaurant service customers are seeking for information regarding the physical evidence, service quality and charges (Gunawong, 2014). Social media is the best source of obtaining non-manipulated information regarding customer experience. Before the social media era peoples were able to access only company websites or empirical journal articles (Purdy, 2011). However, online or internet is having certain risk involved like the hacking.

Company Law for Business Essay Example | Topics and Well Written Essays - 2000 words

Company Law for Business - Essay Example It is known to all the consumption and burning of fossil fuel lead to environmental pollution as these activities increases the carbon emission level. High carbon emission level is one of the major reasons behind these growing effects of global warming. The temperature of earth surface is increasing day by day due to massive fossil fuel burning. Looking into these aspects, governments of several countries developed several environmental policies for business organization to limit the consumption percentage of fossil fuel. However, these policies and legal barriers forced the organizations to focus on sustainable business practices. In addition to this, market and customer’s demand for green and environment friendly products. Slowly and gradually, the organizations tried to search for substitute energy sources that can harm less to environment. In addition to this, emergence of advanced technology helped organizations to consider the aspect of green business operation strategy. On the other hand, sustainable business practices helped organizations to avoid legal and political threats. However, corporate social activities are considered as the part of sustainable business strategies. Water recycling, maintaining zero solid waste, reduction of carbon emission, charitable functions for the development of communities and other sustainable business activities are adopted by several organizations to maintain high brand vale and meet current market demand (Hannigan,. 2009, p.71). History of CSR In the year 1990, the leading organizations started to understand the significance of several types of CSR programmes and activities. It was important for the organization to undertake different business strategies to sustain in the competitive business environment. In... This essay approves that governments of different countries are monitoring the business performance of the organizations along with its corporate and business culture. A profitable organization can face several legal and political challenges if the organization does not follow any kind of ethical code, labour standard or environment policy. It is clear from several survey reports that stakeholders are attracting more to those organizations who maintain all the corporate social responsibilities. CSR is not only about maximizing profit and revenue, but also taking care of social and communal aspect through these business outcomes. This report makes a conclusion that leading global firms are focusing on corporate social responsibility activities to maintain sustainable business practices. Recently, the demand of stakeholders and customers are shifting to green business strategies and effective environment friendly business outcome. Earlier the business organizations tried to fulfil social needs by investing in the community and society from the business profit. It created setbacks for several organizations as it increased operational cost. Recently, the organizations are focusing on environmental sustainability in order to maintain their CSR. It is important for the organizations to fulfil all the social and environmental needs through sustainable business strategies in order to attain high brand image.