Pulp Fiction

Discussing intertextuality in the movie â€Å"Pulp Fiction†, means not only taking into consideration Quentin Tarantino’s â€Å"text†, his vision; but also the whole culture that influenced the director. Pulp Fiction is a gangster movie, and obviously Tarantino was lured by detective, crime fiction novels like the Modesty Blaise (a spy fiction novel by Peter O’Donnel published in 1965), which in the movie is being read in the toilet by Vega (actor John Travolta). Butch’s double cross of Marsellus reminds the viewer of Dashiell Hammet’s novel, Red Harvest (1929). The main character from this novel blackmails a boxer into â€Å"unfixing† a fixed fight. ( The original title of the movie was supposed to be Black Mask, which was a pulp magazine popular in 1930 for its detective stories. Even the food eaten by the characters belongs to a pop culture; there are scenes where a box of cereals called Fruite Brute appears (which was canceled in 1983). The graphic of the movie reminds of the pulp culture, and there is a motive from the drug culture; all the clocks in the movie are set at 4:20, especially the clock from the pawnshop. Another text which inspired the director in creating some scenes from the movie was, as strange as it may appear for a gangster movie; a biblical passage, more precisely Ezekiel 25:17. This passage is recited in the film by Jules during his executions and this makes Jules’s character show up as the victim not as a vicious killer. The film’s title, â€Å"Pulp Fiction† reveals the entire culture from witch it was born. Pulp fiction refers to the cheap fiction magazines (mainly detective fiction) which were published from the 1920 s through the 1950 s. These magazines included a wide variety of genre: fiction, fantasy, detective, science fiction, westerns, war, horror, sport. Tarantino succeeded in uniting almost all these genres in his masterpiece. Quentin Tarantino included in his films his own pop objects like big Kashuna Burger, red apple cigarettes and other elements; and eventually â€Å"Pulp Fiction† itself became an icon of the pop culture. The posted lyrics use the leitmotiv of the young maiden who is seduced and murdered (raped) by a young charismatic man who attracts and is followed with enthusiasm (a â€Å"pied piper† the mysterious traveler who agrees to help a town get rid of a ). J. carol Oates wrote â€Å"Where are you going? Where have you been?† inspired by the murders from Tucson of Charles Schmid (an article published in Life Magazine) and by the Bob Dylan’s song â€Å"It’s all over now, baby blue†. The posted lyrics contain elements like: seduction unconscious forces, violence, rape which are typical in Oates story WGWB. Her work mix Gothic alienation with a subtle social observation. (http://en.wikipedia.org/wiki/Where_Are_You_Going%2C_Where_Have_You_Been%3F) Flannery O’Connor wrote about Southern protestant characters who suffer great transformations. Their transformation is gained through comical behavior in the quest of the holy, violence and pain. Somehow her characters seem to have been touched by a spiritual grace. The author is ironic, and there is a clear discrepancy between the characters’ bounded perceptions and the awful fate awaiting them.   (http://en.wikipedia.org/wiki/Flannery_O%27Connor) The characters depicted in O’Connor stories and in pulp fiction fight for a cause, they endure pain and if necessary become violent, but in the end there is the gruesome understanding of the wrong conception they had about society, religion, culture (for example in O’Connor’s novel â€Å"Wise Blood†, the protagonist is a spiritually confused who in the end realizes that he was wrong in his conceptions). O’Connor’s short stories describe again powerless people that can not fight against faith and are destined to suffer. Violence brings in certain characters from Pulp Fiction and O’Connor characters the answer to all their wonders and frustrations. Bibliography: Pulp Fiction,   Wikipedia The Free encyclopedia http://en.wikipedia.org/wiki/Pulp_Fiction_%28film%29 Flannery O'Connor, Wikepedia The Free encyclopedia http://en.wikipedia.org/wiki/Flannery_O%27Connor ; ; ; ;

IT Project Implementation Failures

Before an IT project can begin, the acquisition process must be successful. Once the implementation process beings, however; many things can start to go wrong because there are many factors and people involved that may not work together. Although the acquisition process is very stressful and important too, the implementation of planning a project and choosing the right team to do the job is not always as easy as it sounds. As hard as it may be to effectively navigate through these potential failures, project failures such as the ones illustrated in the case study, Memorial Health System CPOE Implementation, can be evaded. At the beginning of the implementation process, Fred Dryer and Joe Roberts agreed and established a plan to get the CPOE system effectively enough for the staff and other employees to use. Stakeholders did not agree with Dryer and Roberts that this system would be meaningful and eventually disagreed with them. This must be a common problem with the implementation process, because it is very difficult to get so many people to work together cohesively. The organization undergoing the IT process must be a cohesive unit in believing in the project as well as being on the same page about what needs to happen. Since the stakeholders have too much power in the process, Roberts and Dryer left the project. The other project failure demonstrates the difficulty of choosing the right team members and management personnel to effectively run the project. The interim CIO, Melvin Sparks, was, to put it mildly, the wrong person for the job. He illustrated many of the project failures. He was unable to effectively communicate with his staff, made decisions that negatively affected the project and ultimately committed a huge mistake by changing the scope of the project during the implementation process. The project manager in the case study was yelled at to give good news or no news at all to Sparks. Not only is it completely inappropriate for CIO to yell at staff, but communication is integral in the implementation process, whether it is good news or bad. Changing the scope of the project during the implementation process creates chaos. A good acquisition process will create an environment where large deviations from the initial project scope are not accepted. Another vital problem in the case study was the lack of testing done on the system. Testing assures the team of the functionality as well as the problems that may arise from the system, and gives time to fix it. Sparks created no confidence in the team and showed none in the initial project. Conclusion: The case study’s project failures could have probably been avoided. The main job of the implementation team, besides implementing the project, should be to create a strong team with strong management and staff. Without this backbone, the process is doomed from the start. There are steps and procedures that can be implemented in order to avoid these types of failures in the future. I would recommend cross-training between management to insure everyone knows what steps to take in order to have a successful IT project. It Project Implementation Failures IT Project Implementation Failures Barbara Ratcliff HCS/483 March 16, 2013 Donna Lee Lewis IT Project Implementation Failures Introduction Memorial Health System is an eight-hospital integrated health care system. The Memorial Health System implemented an IT system which failed. When an organization implements an IT system every one of its employees needs to be on the same page. This includes the stakeholders, CEOs and managers. When an organization has made the decision to implement an IT system it is important for the organization to have an IT staff that knows how to work with the system.When the organization that is implementing the system does not have the IT staff properly trained then the system could fail. This is main reason that the Memorial Health System implementation failed. Why the process failed In this case Memorial Health Care system failed. Four years ago the board of directors of Memorial Health Care Systems agreed to a multi-million dollar implementation of an org anizational clinician provider order entry system (CPOE) that would reduce the medical errors within the organization. Since the implementation four years ago the system is still not totally functioning.The system is only working fully for one out of the eight hospitals within the organization. Fred Dryer (CEO) and Joe Roberts (CIO) were in charge of the project. Even with some of the stakeholders not sure of this the go ahead was given. There were others complaining that the new system would double the workloads. In an effort to prove their timeline could be met Dryers and Roberts rushed the requirement analysis, had a RFP issued, selected a vendor, and signed the contract in just six months leaving 12 months to do the implementation of the IT system.It was a short time after that the two leads on the project Dryers and Roberts left the organization. The then chief medical officer, Barbara Lu was made CEO and put in charge of the implementation even though she was opposed to it. Th e board of directors still supported the project and did not want to lose the large down payment to the vendor so Lu was instructed to proceed with the implementation of the system. Dr. Melvin Sparks was appointed CIO of the system and hired Sally Martin as project manager. In working on the project Sparks and martin had an argument which caused a breakdown in communication.When the project launched it was obvious what the analysis missed, that the software was flawed and user-end training was not done. Doctors could not sign in to the system and the nurses could not enter the doctor’s orders. The patient ended up waiting for tests and their medications. What should be done different? The process should not have been rushed to ensure that the requirement analysis was through and that important steps were not missed. Some of the missing steps were training of the user staff, the cost of the whole project and the time frame of the project.The staff should have had more complete training for using the system. The cost should have been better explained so the organization could budget for all the costs. The time frame needed to be realistic not rushed. Conclusion All in all, this implementation of the system failed due to the rushed requirement analysis the lack of training for the staff using the system, and the lack of communication during the implementation of the system. It did not help that the key project managers changed during the process of implementing the system. The end result is that only one out of eight hospitals is using the system. It Project Implementation Failures IT Project Implementation Failures Barbara Ratcliff HCS/483 March 16, 2013 Donna Lee Lewis IT Project Implementation Failures Introduction Memorial Health System is an eight-hospital integrated health care system. The Memorial Health System implemented an IT system which failed. When an organization implements an IT system every one of its employees needs to be on the same page. This includes the stakeholders, CEOs and managers. When an organization has made the decision to implement an IT system it is important for the organization to have an IT staff that knows how to work with the system.When the organization that is implementing the system does not have the IT staff properly trained then the system could fail. This is main reason that the Memorial Health System implementation failed. Why the process failed In this case Memorial Health Care system failed. Four years ago the board of directors of Memorial Health Care Systems agreed to a multi-million dollar implementation of an org anizational clinician provider order entry system (CPOE) that would reduce the medical errors within the organization. Since the implementation four years ago the system is still not totally functioning.The system is only working fully for one out of the eight hospitals within the organization. Fred Dryer (CEO) and Joe Roberts (CIO) were in charge of the project. Even with some of the stakeholders not sure of this the go ahead was given. There were others complaining that the new system would double the workloads. In an effort to prove their timeline could be met Dryers and Roberts rushed the requirement analysis, had a RFP issued, selected a vendor, and signed the contract in just six months leaving 12 months to do the implementation of the IT system.It was a short time after that the two leads on the project Dryers and Roberts left the organization. The then chief medical officer, Barbara Lu was made CEO and put in charge of the implementation even though she was opposed to it. Th e board of directors still supported the project and did not want to lose the large down payment to the vendor so Lu was instructed to proceed with the implementation of the system. Dr. Melvin Sparks was appointed CIO of the system and hired Sally Martin as project manager. In working on the project Sparks and martin had an argument which caused a breakdown in communication.When the project launched it was obvious what the analysis missed, that the software was flawed and user-end training was not done. Doctors could not sign in to the system and the nurses could not enter the doctor’s orders. The patient ended up waiting for tests and their medications. What should be done different? The process should not have been rushed to ensure that the requirement analysis was through and that important steps were not missed. Some of the missing steps were training of the user staff, the cost of the whole project and the time frame of the project.The staff should have had more complete training for using the system. The cost should have been better explained so the organization could budget for all the costs. The time frame needed to be realistic not rushed. Conclusion All in all, this implementation of the system failed due to the rushed requirement analysis the lack of training for the staff using the system, and the lack of communication during the implementation of the system. It did not help that the key project managers changed during the process of implementing the system. The end result is that only one out of eight hospitals is using the system.

Association Football and Davies Middle School Essay

For me to be a member of the National Juniors Honors Society would be an amazing privilege. I believe I should be accepted because I am dedicated and passionate about my activities inside and outside of school. Also I will bring strong leadership as well as teamwork skills to NJHS. I am always looking for new ways to help people even in the smallest of things. Lastly, I have received many recognition awards and commendations. I think these qualities will make me an excellent member of the National Junior Honor Society here at William Davies Middle School. One of my biggest passions is my soccer team, the Hamilton Shock. I have been playing soccer for a little over a year and a half and I love it. We work together not only as a team but like a family through our losses and wins. All we have done is improve. They have helped me become a better soccer player and we have become an excellent team with my optimism and teamwork. Another activity that I am involved with in school is S. W. A. T or Students Working to Advance Technology. We work together to come up with new ways to inform our student body about the events going on at Davies. We are always helping each other with new ideas like our Davies â€Å"App† that we are currently working on. In the end our projects always come together. My biggest community activity is for Special Olympics of New Jersey. My family and I attend many of the events for SONJ including the Summer Games. I started volunteering by working and playing with the athletes. The area we staffed was where the athletes came to take a break and play with carnival-like games. The ages ranged from little kids to adults. It was fun putting smiles on their faces when you told them they won! It showed me we aren’t any different than them. They still like to do sports and have fun. They love to win prizes as do we. They just have disabilities that make them special. Over all volunteering for SONJ is a fantastic experience and in my opinion every boy and girl should do it one day. I am always looking for ways to help out around school. My interest started in 4th grade with my teacher Mrs. Giordano. I would stay inside for recess and help prepare the classroom for the next lesson. Then in 5th grade I would skip recess some days and go to the library to help. As a Library Helper, I would check books in and out and restock the shelves. Most recently this year, I sold bracelets for the Hurricane Sandy Relief during my lunch period. Some of these examples show I am willing to give up my time to help others. Although I am young I have already been recognized for my outstanding performance in school. For instance, in 5th grade, I was chosen by my principal, Mrs. Jennifer Baldwin, as the most outstanding student in the George L. Hess Elementary School for that year. I was awarded The Bassetti Award and received Phillies tickets for my outstanding grades and overall performance in school. I have continued this effort here at Davies. With my good grades I have been on the Superintendent’s list for five quarters. Lastly, I have also acquired several Praise Referrals. Although I am most proud of two that I got last year. These referrals were for helping one of the students in my language arts class that needed a little extra guidance sometimes. I could tell she got frustrated and confused easily. I would try my best every time to help her. Some of the other kids thought she was weird or strange. I didn’t mind her behaviors because she was one of my friends. When I was given these awards I didn’t understand what I was being rewarded for because I wasn’t doing anything extra. I was just doing what I normally would do, try to do my best and help those around me. In final consideration, this shows that I have been successful so far but I believe I will go on to do even bigger and better things and I hope NJHS can help me do that. I have ideas of improving our school and town such as a Special Olympics volunteering program. I would also like to show other students how they can help and improve our school. I think my best years at Davies are ahead and they can only be better with my involvement in the National Junior Honors Society.

GLOBAL ISSUES &INST Essay Example | Topics and Well Written Essays - 1750 words

GLOBAL ISSUES &INST - Essay Example If the U.S. leads the pack in hunting for cleaner energies then surely we would save face for our previous misdeeds. But global warming transcends merely saving face. The reality of the abnormal and harmful weather patterns is something we must live with today. Scientists have linked our current explosion of weather related tragedies to the global warming increase. Hurricane Katrina ravaged New Orleans and heat strokes have become a feature of summers are but to name a few of the extremes of weather. Statistically, the hottest years were experienced in the last decade (ESS, 2008). Other health risks have also been cited due to the continued depletion of O-zone, caused by global warming. Cancer of the skin caused by UV-radiations, cataracts and decreased immunity are some of the health risks you face as a result of depletion. The environment, especially animal live suffers from the same and this causes extinction of some species. Failure to recognize the role of organic fuels, chiefly oil, would lead to unprecedented weather and calamity increase, disease and massive financial strains in the efforts to repair (Jackson, 94). Another benefit of clean energy is the reduced dependency on foreign oil. The USA consumes the most amount of oil globally and is the biggest importer of the same. This has led to many problems including exploitation by the oil cartels, the biggest being OPEC. Oil has become an instrument of political and diplomatic exploitation, especially with matters concerning the Middle East. This has been so especially after the 6 Day War. A country bearing oil has become a major voice in international affairs as they can cause the destabilization of world markets practically overnight (Zycher, 2008). The last few weeks have borne witness to this fact where the impact of the oil fields of the remote Arabian deserts cause tremors at the very pinnacle of Wall Street. Reducing dependency has very obvious advantages in this light: it would reduce the bargaining power of these countries at the international and domestic front. Humanitarian issues such as modern day slavery, women emancipation and g ross abuse of democracy by these countries are very difficult to handle since they have oil power. They can refuse to sell if they perceive you as hostile causing an energy crisis of great magnitudes. Mr. Obama is on the long term strategy road to finally rid them of their bargaining platform and allow them to be subject to the rules of humanitarianism. The third benefit as cited by the President-elect is the revival of the economy. This statement seems like an oxymoron bearing in mind that clean energies require expensive infrastructure. Though this is true, the long term benefits of this investment would pay off. Imagine having hybrid automobiles that run on electricity and hydrogen drawn from water. The electricity would be generated from nuclear energy and other forms. We would use solar energy to light our houses. Create proper insulation so that we cut down on heating costs and harness wind energy for various other chores. This dream of an oil-free energy sector would result in the saving of billions of dollars incurred in buying and importing this resource. This would result in savings from government, household and business levels. These savings from the household could be channeled to increase domestic demand or saved. Both of these options are good for the economy. The

Classroom Practice for Children with Asperger Syndrome in a Mainstream Essay

Classroom Practice for Children with Asperger Syndrome in a Mainstream School - Essay Example As the paper outlines the strategies would include; â€Å"carefully structuring the seating arrangement, providing a safe haven, preparing for changes in routine, using available resources and making needed accommodations† among other things. Seating Arrangement and Group Work: the reporter will avoid seating Terry close to bullies and aggressive students, but seat her next to her peer buddies. However, this would be based on the analysis of where the Terry works most effectively. He will ensure that he avoid self selection when assigning student groups and teach students the importance of working as a team. This study stresses that Terry being an Asperger Syndrome patient gets overwhelmed by crowds and social interaction thereby resulting in stress and anxiety. Instead of removing Terry from difficult academic tasks and the playground activities, the reporter might consider offering an â€Å"alternative to attending these events†. This can be achieved by ensuring that Terry has a trusted contact person with whom she feels comfortable. He will give Tarry access to quiet and private places where she can have her free time, rest and refresh away from the hustles of trying to fit into social groups. As a classroom teacher, he would also consider giving Terry additional time to complete difficult class assignments and offer her extra tuition time to attain her academic potential. Peer Interactions: As a class room teacher would create ways to connect Terry with empathic peers so as to promote social acceptance and friendships in her life.  

Health care laws and how it affects working nurses Research Paper

Health care laws and how it affects working nurses - Research Paper Example Three types of laws govern the Public Health Law as previously discussed: Legislation, Regulations and Judicial Law. The legislative bodies of state, federal and local government, formulate the Legislative laws that have a considerable impact on the way nursing is practiced in the United States. Regulations are specific set of rules pertaining to individual while the legislation and Judicial law is based on the court’s and jury’s’ decision (Stanhope and Lancaster 124). Stanhope and Lancaster illustrate the impact of Regulations and the Judicial Law on nursing practice by stating that the state legislators will enact laws governing the board of nursing and will coin technical terms such as ‘licensed registered nurse’ and ‘nursing practice’, the board of nursing on the other hand will enforce the laws that will bring into existence a licensed registered nurse and recognized nursing practice procedures by stating all the requirements and pr erequisite (124). The writers express that in case of judicial law, courts take into consideration previous cases and give sentences in conformity with them except during the instances when the judge or the jury thinks that the old laws have become obsolete and a more valid form of it is needed. Everything that is done in a health agency has a basis in law and is subject to legal sanction of one type or another (qtd. in Maurer and Smith 124). This statement implies to health care workers and more particularly community oriented nursed since they have direct, face-to-face relationship with the patients. Rules and regulation in addition with those associated with the upheaval of the health industry; predominantly laws that pertain to the maintenance of discipline in the health sector and allotting punishment related to malpractice are applicable to nurses to a great extent. Nurses are regarded, as learned individuals with sound knowledge of the profession that they practice for their living, consumers are totally reliant on this particular knowledge for their treatment. If any patient is harmed in any way due to the nurses’ malpractice that according to a source Hall and Hall (2001) cited in Maurer and Smith (124), includes: Provision of unsafe environment, inadequate assessment, failure to follow physician’s order, erroneous medication and treatment, usage of defective technology and products, inadequate infection control and poor communication with the patient, the nurse would be held accountable for her actions and lawsuits can be filed against her. Nurses should be well aware of the laws and legislation pertaining to their legal practice of the state they are professionally working in, and should be well familiar also with any changes that might be introduced in the legislation of not just nursing but also in related professions such as those of medicine and pharmacy (Lancaster and Stanhope 125). These writer demonstrate the importance of inter disciplinary knowledge for the nursing profession by stating the example of a community oriented nurse who has reviewed the pharmacy act would be able to ascertain whether to question the right to dispense medication in the local family planning clinic or not. According to The Nurse Practice Act of New York, 1970 nursing is defined as: The practice of the profession of nursing†¦. is defined as diagnosing and treating human responses to actual or potential health problems through such services

The ethical and moral arguments for and against paying college Essay

The ethical and moral arguments for and against paying college athletes - Essay Example Amid this, a pertinent issue of whether college athletes should be paid or not emerged, resulting in intensive, extensive, diverse, and dynamic debates on the matter. Stakeholders in the athletics industry have expressed their concerns over the issue of paying or not paying college athletes, differing in opinions and efforts to favor either side. Ethical, moral, and value-based concerns have been expressed. Every party arguing for or against the remuneration of college athletes present their reasons, all of which significantly have a point to put across. Evaluating and assessing the underlying concerns is essential, in a bid to determine whether indeed these athletes should be paid. Ethics are guided by right or wrong practices in the undertaking of certain activities. Ethical concerns surrounding making payments to college athletes revolve around what is perceived to be right or wrong in relation to such payments. Stakeholders involved have conflicting views over the matter, but the baseline is either the payments are ethical or unethical. The weight given to games and sporting activities is the primary determinant of the underlying concern. On the college level, athletics are part and parcel of the extracurricular programs run by colleges. Importantly, not every college student becomes a college athlete, meaning that there are certain variables that define college athletes. Talent and personal drive to games and sports plays a fundamental role in engaging students in athletics. The formulated and implemented extracurricular activities in colleges are not without their benefits to the institutions. Better performance by students in athletics does not only earn these institutions names, but also economic gains from all aspects related to the gaming and sporting activities involved. Athletics just like any other college program are allocated funds and other resources. Utilization of these funds and resources by students to a point of generating even more of

Dis 8 - 527 - two paragraph same idea with different words Assignment

Dis 8 - 527 - two paragraph same idea with different words - Assignment Example Each country has its own interests and tries to attain its own goals. But as at present all countries are interdependent, any changes in one or several of them, which are not done for the sake of the whole world, but for personal interests and advantages, may bring to the changes in other countries and to disorder in the global system functioning. The examples of such changes and interdependence are the global financial crisis, which took place a few years ago, the cut of interest rates in the USA due to changes in global money flows, the present political and economic sanctions, imposed on Russia because of events in Ukraine, and many other. The combination and controversy of personal countries interests and the necessity to make the global system work can lead to instability of the global economy functioning. The complexity, high frequency and speed of changes make the world more unstable and fragile. The misunderstanding of the events and their reasons, lack of guarantees and the difficulty to predict future make people fear and panic, even though the overall indicators of peoples welfare increased in the whole world. So as globalization becomes more and more complex, and it cannot be stopped, it is better to consider it as a condition of future development of the world, rather than one of the possible

Research on Using handphone to activate and deactivate the car camera Paper

On Using handphone to activate and deactivate the car camera - Research Paper Example This paper analyses the usage of hand phone to activate and deactivate the car camera. â€Å"Camera security systems usually incorporate a central computer or storage device to record video. Most can also be hooked up to monitors for immediate viewing. In recent years, wireless technology has made it possible to eliminate cumbersome wires and make camera security systems more versatile. These wireless cameras can integrate with a personal computer, and some can even be monitored by cell phone. Wireless cameras transmit to a wireless receiver that can translate the signal back into analogue video or simply send it to a digital storage device, such as a DVR† [8] Car cameras can be used as an electronically controlled security guard robot to the cars. Car cameras or electronic surveillance system excels where the manual security measures fail. Car cameras can be used to photograph robbery or intrusion or destruction of the vehicle using remote control. It can be controlled using a hand phone as well. Car camera has various features like remote control, motion sens or to automatically activate the Mobile Cam, photo documentation of vandalism, theft, and altercations, ability to take and store up to 680 digital images, view playback on home TV and monitors, record images on any VCR, displays date and time, ability to capture images at night or in very low light, easy to adjust and install. [1]. It is easy for the vehicle owners or the police force to track the activities of the intruders using the combinational services of car cam and hand phone. In â€Å"Normal† mode, the car camera begins taking pictures as soon as it is switched on.   The camera function is so designed that when the memory becomes full it can overwrite on the pictures starting from first. It is possible to switch off the overwrite mode if needed. As per the United States law, as long as the

Children’s Technology Usage Essay Example for Free

Children’s Technology Usage Essay When was the last time you truly spent time with your child? When was the last time your child ACTUALLY talked to you? Most parents honestly can’t answer that question or have to really think about it. Children nowadays depend on technology to get them through their lives. Spending too much time glued to technology causes kids to have no human interaction skills, it exposes them to inappropriate content and most importantly it poses serious health risks. As parents it is their responsibility to put restrictions on the technology their children are using. Children who are constantly communicating via technology are losing vital human interaction skills. Vincent Nichols once stated; â€Å"Were losing social skills, the human interaction skills, how to read a persons mood, to read their body language, how to be patient until the moment is right to make or press a point. Too much exclusive use of electronic information dehumanizes what is a very, very important part of community life and living together†. (Vincent Nichols. (n.d.). BrainyQuote.com). This quote is a great summary of the future of our children. Do they know how to hold an actual conversation, how to present themselves, how to read body language? When texting you can’t tell someone’s tone of voice and you don’t have to deal with confrontation. How will children attend job interviews if they don’t know how to interact with people in person? These are the fears that every parent should have for their child. Not to mention that there is a complete absence of family time. Families now are not nearly as close as they have been in past generations. Children will lose the ability to express their feelings, they will not be comfortable talking about problems with their parents and siblings will not be as close. Limiting the amount of time that children spend with technology and enforcing technology free times will help promote family time and interaction with people. To add to the lack of human interaction skills, the amount of inappropriate con tent that can be accessed by children is endless. Parents are aware of what images there are on the internet and how easy it is to access them. Children have rather curious minds and the information they could attempt to access is endless. Most times they don’t even have to search inappropriate content; it is right in front of them through  commercials, pop up ads and friends. Everything from sexual content, to body image, to drugs and alcohol, and even to violence is out there for them to access. Putting restricts on what children search, watch and download will help limit their exposure to such content. Having access to these types of content at such young ages will cause serious health risks now and later in life. Putting restrictions on what children can view is simple to do. Most cable companies, phone providers and internet providers have guidelines and support to help parents place restrictions on what their children can search and watch. Finally, excess time spent using technology can lead to serious health risks. Often obesity is the only risk that people associate with too much time spent on technology such as video games, TV, and cell phones. However, the health risks go far beyond obesity. While it is true that too much screen time is known to decrease the amount of physical activity a child partakes in it is not the only risk. Young girls who are already self conscious of their looks can find entire internet societies that brainwash them into thinking they need to be a picture perfect twig and teach them how to become one through anorexia and bulimia. Also, dependency on technology and always being in the now causes sleep disorders, stress and anxiety. Lack of sleep can cause mood disorders and the affects of stress and anxiety in young children can carry with them into their teenage and adult years making it more difficult to recover from. Drugs and alcohol and often glorified and young teens think that they need to do them to be cool causing addiction, overdose, and even death. Making sure that their children are healthy and safe should be a parent’s main concern. Placing restrictions on technology will help ensure that their children stay alive. As parents it is their responsibility to put restrictions on the technology their children are using. What kind of future do parents want for their children? Parents now are already at a disadvantage of raising their children in an era full of technology. They have their work cut out for them to make sure that their children are not dependent on technology and that they learn human interaction skills. Keeping their children protected from the inappropriate content and ensuring that their children do not suffer from mental and physical health problems as a result of technology should be every parent’s priority. Every parent should be placing restrictions on when and what their children are using technology for. References: Vincent Nichols. (n.d.). BrainyQuote.com. Retrieved September 22, 2014, from BrainyQuote.com Web site: http://www.brainyquote.com/quotes/quotes/v/vincentnic532641.html

Assessing The Four Functions Of Management Commerce Essay

Assessing The Four Functions Of Management Commerce Essay The base function is to: Plan It is the foundation area of management. It is the base upon which the all the areas of management should be built. Planning requires administration to assess; where the company is presently set, and where it would be in the upcoming. From there an appropriate course of action is determined and implemented to attain the companys goals and objectives Planning is unending course of action. There may be sudden strategies where companies have to face. Sometimes they are uncontrollable. You can say that they are external factors that constantly affect a company both optimistically and pessimistically. Depending on the conditions, a company may have to alter its course of action in accomplishing certain goals. This kind of preparation, arrangement is known as strategic planning. In strategic planning, management analyzes inside and outside factors that may affect the company and so objectives and goals. Here they should have a study of strengths and weaknesses, opportunities and threats. For management to do this efficiently, it has to be very practical and ample. The subsequent function is to: Organize The second function of the management is getting prepared, getting organized. Management must organize all its resources well before in hand to put into practice the course of action to decide that has been planned in the base function. Through this process, management will now determine the inside directorial configuration; establish and maintain relationships, and also assign required resources. While determining the inside directorial configuration, management ought to look at the different divisions or departments. They also see to the harmonization of staff, and try to find out the best way to handle the important tasks and expenditure of information within the company. Management determines the division of work according to its need. It also has to decide for suitable departments to hand over authority and responsibilities. The third function is to: Direct Directing is the third function of the management. Working under this function helps the management to control and supervise the actions of the staff. This helps them to assist the staff in achieving the companys goals and also accomplishing their personal or career goals which can be powered by motivation, communication, department dynamics, and department leadership. Employees those which are highly provoked generally surpass in their job performance and also play important role in achieving the companys goal. And here lies the reason why managers focus on motivating their employees. They come about with prize and incentive programs based on job performance and geared in the direction of the employees requirements. It is very important to maintain a productive working environment, building positive interpersonal relationships, and problem solving. And this can be done only with Effective communication. Understanding the communication process and working on area that need improvement, help managers to become more effective communicators. The finest technique of finding the areas that requires improvement is to ask themselves and others at regular intervals, how well they are doing. This leads to better relationship and helps the managers for better directing plans. The final function is to: Control Control, the last of four functions of management, includes establishing performance standards which are of course based on the companys objectives. It also involves evaluating and reporting of actual job performance. When these points are studied by the management then it is necessary to compare both the things. This study on comparision of both decides further corrective and preventive actions. In an effort of solving performance problems, management should higher standards. They should straightforwardly speak to the employee or department having problem. On the contrary, if there are inadequate resources or disallow other external factors standards from being attained, management had to lower their standards as per requirement. The controlling processes as in comparison with other three, is unending process or say continuous process. With this management can make out any probable problems. It helps them in taking necessary preventive measures against the consequences. Management can also recognize any further developing problems that need corrective actions. Effective and efficient management leads to success, the success where it attains the objectives and goals of the organizations. Of course for achieving the ultimate goal and aim management need to work creatively in problem solving in all the four functions. Management not only has to see the needs of accomplishing the goals but also has to look in to the process that their way is feasible for the company. Goal Management There is a strong relationship between a successful company and an effective goal setting process. By setting goals, specifically SMART goals, employers engage their workforce and encourage employees across the company to focus and successfully achieve these goals together. Strong goal alignment and goal visibility allows for quicker execution of company strategy by enabling management to allocate proper resources across various projects. Managers can focus their staff on the companys most important goals and reduce task redundancy throughout their team while employees will have a greater understanding of how their efforts will serve the business goals. Goal management also lets you establish a true pay-for-performance culture by communicating the company goals to employees, therefore providing the groundwork for linking reward systems with individual and / or team performance. Find out how you can put goal alignment to work at your organization in our complimentary whitepaper, Driving Success: The Incredible Power of Company-Wide Goal Alignment. In his piece Notes on the Theory of Organization, a memo prepared while he was a member of the Brownlow Committee, Luther Gulick asks rhetorically What is the work of the chief executive? What does he do? POSDCORB is the answer, designed to call attention to the various functional elements of the work of a chief executive because administration and management have lost all specific content. In Gulicks own words, the elements of POSDCORB are as follows: Planning, that is working out in broad outline the things that need to be done and the methods for doing them to accomplish the purpose set for the enterprise; Organizing, that is the establishment of the formal structure of authority through which work subdivisions are arranged, defined, and co-ordinated for the defined objective; Staffing, that is the whole personnel function of bringing in and training the staff and maintaining favorable conditions of work; Directing, that is the continuous task of making decisions and embodying them in specific and general orders and instructions and serving as the leader of the enterprise; Co-Ordinating, that is the all important duty of interrelating the various parts of the work; Reporting, that is keeping those to whom the executive is responsible informed as to what is going on, which thus includes keeping himself and his subordinates informed through records, research, and inspection; Budgeting, with all that goes with budgeting in the form of planning, accounting and control Gulick states that his statement of the work of a chief executive is adapted from the functional analysis elaborated by Henri Fayol in his Industrial and General Administration. Indeed, Fayols work includes fourteen principles and five elements of management that lay the foundations of Gulicks POSDCORB tasks of an executive. Fayols fourteen principles of management are as follows: Division of Work Authority and Responsibility Discipline Unity of Command Unity of Direction Subordination of Individual Interest to General Interest Remuneration of Personnel Centralization Scalar Chain (line of authority with peer level communication) Order Equity Stability of Tenure of Personnel Initiative Esprit de Corps Fayols influence upon Gulick is readily apparent in the five elements of management discussed in his book, which are: Planning examining the future and drawing up plans of actions Organizing building up the structure (labor and material) of the undertaking Command maintaining activity among the personnel Co-ordination unifying and harmonizing activities and efforts Control seeing that everything occurs in conformity with policies and practices Fayol, H. (1949). General and Industrial Management. (C. Storrs, Trans.). London: Sir Isaac Pitman Sons, LTD. (Original work published 1918) Service industry is getting more attention in B-World. It has never been so easy to establish a company, I should say, listed company as it is now being in service industry rapidly. Production and operation enabled companies have seen so many business management fundamentals for quality control and best team management including quality circles. If I were to point, I would talk about Baldrige Award Framework that promotes quality awareness in organization. It is based on a weighted score of seven categories of performance criteria. Consultancy firms, IT or Hospitality services and so other services in this industry want more influential, organizer and innovator talents. Take an example of a small IT company of 10-50 talents serving best functional and operational solutions to giants. Do you want to categorize such company in levels? E.g. One HR, One Director, One Software Engineer, One Writer, One Quality Tester, One Functional Analyst, One Support Engineer, One System Administrator, One Hardware Engineer, One Designer etc. I agree to hire masters but I am against individual operations capability. I favor multiple skills specialist or in other words All Rounder. This article is to describe the team needed in todays service industry so called as Self Managing Teams. Emery suggested, In designing a social system to efficiently operate a modern capital-intensive plant the key problem is that of creating self-managing groups to man the interface with the technical system. The basis of the autonomous work group approach to job design is socio-technical system theory that suggest that the best results are obtained if grouping is such that workers are primarily related to each other by way of task performance and task interdependence. Charles Peguy described, A man is not determined by what he does and still less by what he says. But in the deepest part of himself a being is determined solely by what he is. Self-management team is made of such persons who are motivated by self. Defining Self Managing Team A self-managing team or autonomous work group is allocated an overall task and given discretion over how the work is done. It provides for intrinsic motivation by giving people autonomy and the means to control their work, which will include feedback information. Self-Directed (or Self-Managing) Teams are teams that have been structured to manage and coordinate their own activities and make many of the day-to-day decisions that would have traditionally been made by a supervisor or manager. They usually have responsibility for a complete piece of work (such as engine assembly) and they work quite closely and interdependently. A self-management team is a permanent group of employees who together are responsible for the total process where products or services are made and delivered to internal or external clients. According to one research, the TQM and mass production organized groups did not improve customer service quality or sales volume. While self-managed teams improved sales by 9.4% and quality of customer service by 6.3%. In fact, comprehensive surveys report that 79% of companies in the Fortune 1,000 currently deploy such empowered, self-directed or autonomous teams. Because of their widespread use, much research has been devoted to understanding how best to set up self-managing teams to maximize their effectiveness. Understanding Multi-skilled Team Better Self-managing team incorporates the concepts of Hackman Oldhams job characteristics model. Autonomy Skill variety Task significance Task identity Positive Feedback The team enlarges individual jobs to include a wider range of operative skills. It is multi-skilled team operations. It decides on methods of work and the planning, scheduling and controlling of work. It distributes tasks itself among its members. The team plans and guards the process on its own, solves daily problems, without always having to consult the manager or supporting services. It takes account of the social or group factors and the technology as well as the individual motivators. The team maintains independently contacts with others teams and staff. The team improves working methods on its own, and has all the relevant information available on the basis of which they evaluate their results. The team-members posses both qualifications on both the care they deliver as well as certain organizational qualities. Self-Management Team Development According to Vanessa Urch Druskat and Jane V. Wheeler Leading Self-Management teams in organization is the process that requires specific behaviors that can be grouped into four basic functions. __First moving back and forth between the team and the broader organization to build relationships, __Second scouting necessary information, __Third persuading the team and outside constituents to support one another, and __Forth empowering team members. Self-Managing Team Corporate Whole Foods is very committed to the team structure and self-managing work teams; theyre like the basic cells of the company. The teams are empowered. They do their own hiring. They do their own scheduling. To become a team member at Whole Foods, you have to get voted on by your team after a trial period. If you dont get a two-thirds vote, you dont get on the team, said John Mackey, founder of Whole Foods on Self -managing work team. Hewlett Packard trusts and respects for individuals, focusing on high level achievement and contribution, conducting business with integrity, achieving objectives through teamwork, and encouraging flexibility and innovation. Let it be either small or big, no doubts most of the companies are applying to have self-management teams in organization. Books on Self-Managing Team Dawn Burstall, T. Michael Vallis and Geoffrey K. Turnbull, I.B.S. Relief: A Doctor, a Dietitian, and a Psychologist Provide a Team Approach to Managing Irritable Bowel Syndrome. Ronald E. Purser and Steven Cabana, The Self-Managing Organization: How Leading Companies Are Transforming the Work of Teams for Real Impact. MANAGING PEOPLE IN ORGANIZATIONS: ASSESSING THE PROPOSITION THAT THE WAYS IN WHICH PEOPLE ARE MANAGED AFFECTS THE PERFORMANCE OF THE ORGANISATIONS WITHIN WHICH THEY FUNCTION This essay reviews theoretical concepts to assess the proposition that the ways in which people are managed affects the performance of the organisations within which they function. The implications of this proposition are that (a) effective management is associated with higher levels of organisational performance, while ineffective management practices are associated with inferior organisational performance. The theoretical framework within which this assessment is performed is Managing People in Organisations (MPIO). MPIO is an umbrella concept that encompasses both organizational behaviour (OR) and human resource management (HRM). The concepts of leadership and its effects on organisational performance also are included in MPIO (Beech, Cairns, Livingstone, Lockyer, and Tsoukas, 2002). MPIO includes a wide array of concepts and theories. To assess the proposition that the ways in which people are managed affects the performance of the organisations within which they function, however, this essay focused on two crucial aspects of MPIO in the contemporary period. These crucial aspects of MPIO are the responses by management to the globalised business environment and the effects of cultural diversity on managements communications with employees, each of which is crucial to the devel . . . perate on a global scale. The formal systems alone are not able to satisfy the enormous information needs necessary to coordinate such a complex configuration (Sussland, 2001). The roles and tasks of management also change noticeably in these contexts. When several different cultural backgrounds are present within a company at any one time, management cannot assume that all values are common. Often the shared understanding of the role of management becomes an instrument of integration that is more powerful than formal structures and systems. The manager, therefore, becomes a vehicle of integration. Internationalization and cosmopolitanism are the new characteristics required of this person. The task of the top manager is not that of submitting the activities of a national organization to a central control, but rather that of co-opting abilities and obtaining the involvement of the national organizations; paradoxically, attention shifts from control of the strategic content to managem ent of the organizational process. Evaluation and reward systems must favour the free exchange of information and commitment to global objectives over the above local interests to obtain a positive attitude to integration and thus favour a clim . . . The process starts with a strategic assessment (see The People Process, page 85). This is where HR develops staffing plans to support the organizations objectives and strategies. The process continues as hiring, training/development, and performance management activities are carried out. Finally, ongoing workforce relations and environment activities (e.g., recognition programs and employee surveys) take place. At the center of the people process are the executives and staff that comprise the HR function. IDENTIFYING RISKS The IIAs Auditing Your Human Resource Function seminar includes a risk assessment exercise where participants identify their top HR risks. A few of the most interesting and most frequently mentioned people process risks arise in the areas of objectives, employee skills, HR competency, processes, and outsourced activities. OBJECTIVES Unaligned objectives is a risk event imbedded in the first people process activityorganization design and staffing plans. When HR does not have the appropriate level of involvement in the strategic planning process and its objectives are not aligned with those of the organization, the result can be a ticking time bomb. This disconnect can prevent management from achieving its strategic objectives. It can also result in huge compliance issues (e.g., organization downsizing, staff reductions, and unintended employment law litigation). Some organizations have managed this risk via enterprise risk management activities. In others, where HR is a key player on the management team, this is a nonevent. EMPLOYEE SKILLS Human capital skill gaps is another risk is embedded in organization design and staffing plans. Risks arise, for example, when organizations have heavy concentrations of experienced employees in skill positions who will be retiring soon. A second skill gap risk is linked to changing operating environments and new strategies. These changes often require new skills that can take time to develop or acquire. Best practice HR functions manage these risks via employee database information and competency forecasting techniques. HR COMPETENCY HR staff are at the center of the people process. HR and internal audit groups have a lot in common. Both have professional associations and certifications and play key roles in their organizations governance process. It is also possible for both groups to have skill gaps. Some of these gaps can be remedied via training or other resourcesin other cases, a change of personnel is required. HR competency gaps are a real risk in many organizations. The internal audit issue is how to identify and communicate these gaps to management. To comply with The IIAs International Standards for the Professional Practice of Internal Auditing, auditors have internal quality assessment programs that can include client surveys and peer group benchmarking on staff profiles (e.g., size, experience, and certifications). HR should have a similar quality program. [GRAPHIC OMITTED] PROCESSES The people process, like all other processes, is subject to communication breakdowns, bottlenecks, faulty handoffs, and inefficiencies. What makes it somewhat unique is that inconsistent compliance (e.g., hiring or promotion policies) and too much (e.g., supervisor comments in unofficial employee files) or too little documentation (e.g., involuntary terminations) can result in litigation and reputation damage. Of course, the likelihood and magnitude of these risks depends on the organization. Best practice HR functions use technology (e.g., employee kiosks to update information, more reliance on automated controls), training, and monitoring to manage process risk. The risks are referenced to the four objectives in the Committee of Sponsoring Organizations of the Treadway Commissions Enterprise Risk ManagementIntegrated Framework (S = strategic, O = operations, R = reporting, and C = compliance). Some possible risk categories are also included to help identify various types of risk events. Sample impact and likelihood ratings are assigned to the events (4 = high and 1 = low). Also, the matrix has three priority ratings. One is calculated (impact times likelihood), the second is a real (i.e., subjective) rating of the inherent risk, and the third is a real residual risk rating. The generic ratings are only intended to demonstrate the matrix features. Individual controls are not included by design, as they are best identified and evaluated at the organization level.

Impact Of The Monetary Policies

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

Free Essays - Contemplation in Heart of Darkness :: Heart Darkness essays

Marlow’s Contemplation during his Journey   In one of his novels, Heart of Darkness, Joseph Conrad depicts the tale of a man who reflects upon the meaning of life as well as all of its intricasies and implications. Indeed, Marlow, the main character of this story, questions several existential topics and explores his own personal curiosity about the solidarity and darkness of the jungle he finds himself in. At one point in the storyline, Marlow and his crew depart towards the station where the enigmatic Kurtz resides. An interesting aspect of this portion of the adventure is that Marlow’s crew is mostly composed of cannibals. Upon realizing how famished these natives are, Marlow contemplates how incredible it seems that the cannibals have restrained themselves from giving in to their hunger and eating the European men onboard. It is this speculation that will be the topic of discussion in the following paper. Marlow’s thoughts and perception of the native tribe will be examined in order to provide a more conc ise understanding of his analysis of the cannibals.   During their trip towards Kurtz’s station, Marlow describes the inequality of power and discrimination that the natives must live with. They constantly receive unfair treatments, such as beatings and the lack of food and medical support, as well as being paid in ridiculous manner that can only fuel their hate towards the European conquerors. Upon suggesting that the cannibals on his crew are treated in a disingenuous way, Marlow truly questions why their motives have not been violent so far : ‘’Why in the name of all gnawing devils of hunger they didn’t go for us – they were thirty to five – and have a good tuck in for once, amazes me now when I think of it’’ (Conrad 37). Further analysis provided by Marlow explores the underlying reason why the natives refuse to attack their opressors. He manages to pinpoint one particular aspect that is responsible for such behaviour : ‘’And I saw that something restraining, on e of those human secrets that baffle probability, had come into play here’’ (37). The human act of restraint, according to our narrator, is the simple yet bafling evidence which he stipulates. But what truly surprises Marlow is the fact that there shouldn’t be any logical reason for the starving cannibals not to attack, and consequently eat, him and his crew. He believes that hunger can by no means be deterred by any reasonalble explanation :

Most historians recognise 1917 as the year in which the Harlem :: English Literature:

Most historians recognise 1917 as the year in which the Harlem renaissance began. The Harlem Renaissance. Today most historians recognise 1917 as the year in which the Harlem renaissance began. Three events lead to this. First was the publication of two poems by Claude McKay. Second was the opening on Broadway of three plays about black life by a white writer, Ridgely Thomas. These plays were remarkable not only because they were performed by black artists but because they contained none of the usual racial stereotypes. Finally, on the 28th of July Harlem experienced its first silent parade when ten to fifteen thousand blacks marched down 5th Avenue to protest against continued racial inequities. However the rich surge in African American arts and letters that took place around the 1920’s was not limited to just Harlem, nor even to New York City. Although, the intensity of the movement was in that city, and the sheer number of black writers, musicians, and scholars who lived and worked in Harlem has ensured that it is linked with the era. To understand the Harlem Renaissance it is necessary to appreciate both the changes that occurred within the African community and the cultural shifts that took place in American society as a whole during the 1920’s. For blacks the years during and after World War one were ones of increased militancy and racial pride. Phillip Randolph was struggling to organise black workers and a national campaign was actively promoting federal antilynching legislation. Although white society did not take these political movements particularly seriously, it did give considerable recognition to the large number of black writers, musicians and scholars who were emerging simultaneously. These figures being people like, Countee Cullen, James Weldon, Zora Neale Hurston, Wallace Thurman and Jean Toomer. All lived in Harlem and Langston Hughes described the area as a â€Å"great magnet for the negro intellectual, pulling him from everywhere.† Yet Harlem was a magnet not only for blacks, but also for whites eager to experience for themselves the glamour and escapism that its night-clubs seemed to promise. In many ways Harlem became a national symbol of the Jazz Age, a complete antithesis of Main Street and everything that the artists and cultural critics of the 1920’s rejected. Many Observers, black and white, hoped that this outburst of literary and artistic talent would help to ensure greater acceptance of blacks by American Society.

Chemistry 208 All QUIZ Essay

The Scientific Method Step 1: Performing Experiments Step 2: Making Observations Step 3: Proposing a Hypothesis Step 4: Confirming the Hypothesis Step 5: Proposing a Scientific Law Scientific Notation It is a mathematical expression in which a number is expressed as N x 10^n where N contains only one nonzero digit to the left of the decimal and n is an integer. Rules for Determining Significant Figures (digits) -All nonzero digits are significant figures -Counting begins from the left with the first nonzero number -Zeros between nonzero digits are counted as sig. Figures -Terminal zeros (zeros to the right of the right of a number) are always significant if the value contains a decimal point. Ex: 2. 3700 g: 5 significant figures 17. 50 mL: 4 significant figures Rule 1- In calculations involving measured values (with a certain # of sig. figs), the number of sig figs in the final answer depends on the operation performed. Rule 2- In multiplication and division of measured quantities, the final answer contains the same number of sig figs as are in the measurement with the least number of sig figs. Rule 3- In the final answer of a calculation involving exact numbers, unit conversion factors and constants, the number of significant figures is dictated by the measured quantity involved. Density = Mass/ Volume Matter: The term matter is used to describe things that occupy space and are perceivable by our senses. It can be classifies in terms of its physical state or chemical composition. Elements: composed of one type of atom. Classified as a metal, nonmetal or metalloid. Compound: a combination of elements in a definite proportion. Atoms of each individual elements are chemically combined to form the compound. A chemical change can break down a compound into its individual elements. Mixture: a non-pure substance made of 2 or more elements or compounds that can be separated by physical procedures. Protons have a positive charge, found in the nucleus. Neutrons have no charge, found in the nucleus. Electrons have a negative charge. The atomic number of an element is equal to the number of protons in the nucleus of its atoms. The mass number is equal to the number of protons and neutrons in the atom. To calculate the number of neutrons, subtract the atomic number from the mass number. Molecules are a combination of atoms in a definite proportion e. g. , molecule of water Ions are charged species formed by loss or gain of electron(s) from an atom. Loss of electron – cation (positively charged) Gain of electron – anion (negatively charged)