History of football Essay

Football (as well as rugby and soccer) are believed to have descended from the ancient Greek game of harpaston. Harpaston is mentioned frequently in classical literature, where it is often referred to as a â€Å"very rough and brutal gameâ€Å". The rules of this ancient sport were quite simple: Points were awarded when a player would cross a goal line by either kicking the ball, running with it across the goal line, or throwing it across the line to another player. The other team’s objective was simply to stop them by any means possible. There was no specific field length, no side line boundaries, no specified number of players per team, only a glaring lack of rules. Harpaston: Luckily (for everyone) uniforms & equipment have improved dramatically. Most modern versions of football are believed to have originated from England in the twelfth century. The game became so popular in England that the kings of that time (Henry II and Henry IV) actually banned football. They believed that football was taking away interest from the traditional sports of England, such as fencing and archery. Evolution and the Beginnings of Standardization. Football didn’t really begin to take on any consistency of rules and boundaries until it was picked up as a sport in the seven major public schools of England in the early 1800’s. Six of the seven schools were largely playing the same game (including Eton, Harrow and Winchester) – while the seventh, Rugby School (founded in 1567) was playing a markedly different version of football. The other schools moved ahead refining their rules and eventually their game became known as â€Å"association football† – or soccer, which was played back then much as it is today. Rugby School went in a different direction. How and why the game developed differently at Rugby School appears to have been lost in history, but what is known is that by the 1830’s, running with the ball at Rugby School was in common use and 18 foot goal posts had been added with a cross-bar at 10 feet above the ground. The inclusion of the cross-bar was accompanied by a rule that a goal could only be scored by the ball passing over the bar from a place kick or drop kick. Apparently this was done to make scoring easier from further out and also to avoid the horde of defenders standing in and blocking the mouth of the goal. Players who were able to â€Å"touch down† the ball behind the opponents goal line were awarded a â€Å"try-at-goal† – the player would make a mark on the goal line and then walk back onto the field of play to a point where a place kick at the goal was possible (a conversion). There was also an â€Å"off-your-side† rule used to keep the teams apart. Passing the ball forward was not allowed. By the mid-1860s British schools and universities had taken up Rugby’s game and honored the school by giving the â€Å"new football† the name of rugby. The game soon went trans-Atlantic to America and landed on fertile soil. Roots of American Football The birth date of football in the United States is generally regarded by football historians as November 6, 1869, when teams from Rutgers and Princeton Universities met for the first intercollegiate football game. In those early games, there were 20 players to a team and football still more closely resembled rugby than modern football. The game of football has a history of constant rule changes. Rule changes have been implemented to bolster the excitement of the game of football and  to increase the game’s safety. In 1873, representatives from Columbia, Rutgers, Princeton, and Yale Universities met in New York City to formulate the first intercollegiate football rules for the increasingly popular game. These four teams established the Intercollegiate Football Association (IFA) and set 15 as the number of players allowed on each team. Walter Camp, the coach at Yale and a dissenter from the IFA over his desire for an eleven man team, helped begin the final step in the evolution from rugby-style play to the modern game of American football. The IFA’s rules committee, led by Camp, soon cut the number of players from fifteen to eleven, and also instituted the size of the playing field, at one hundred ten yards. In 1882 Camp also introduced the system of downs. After first allowing three attempts to advance the ball five yards, in 1906 the distance was changed to ten yards. The fourth down was added in 1912. Within a decade, concern over the increasing brutality of the game led to its ban by some colleges. Nearly 180 players had suffered serious injuries, and eighteen deaths had been reported from the brutal mass plays that had become common practice. So in 1905, President Theodore Roosevelt called upon Harvard, Princeton, and Yale to help save the sport from demise. At a meeting between the schools, reform was agreed upon, and at a second meeting, attended by more than sixty other schools, the group appointed a seven member Rules Committee and set up what would later become known as the National Collegiate Athletic Association, or the NCAA. From this committee came the legalization of the forward pass, which resulted in a redesign of the ball and a more open style of play on the field. The rough mass plays, which once caused so many serious injuries, were prohibited by the committee. Also prohibited was the locking of arms by teammates in an effort to clear the way for their ball carriers. The length of the game was shortened, from seventy to sixty minutes, and the neutral zone, which separates the teams by the length of the ball before each play begins, was also established. Though refinements to the game would continue to the present day, the modern game of American football had arrived.   

Alienation in the Music Industry

Even though it has been quite a long time since Marx wrote about alienation, we can still apply his ideas to contemporary jobs. As an international student and a semi-professional musician, I will compare Marx’s ideas to Turkish and global music sector and examine whether they still pertain. I have been producing music for 12 years now and since last year I started producing music that really makes me feel satisfied. Last year, my band mates and me started seeking a record deal so that we could start making money.We read articles on ‘How to write a hit song? ’, ‘How to sell a song? ’ and on the general trends in the music sector. We noticed that almost all popular songs follow a similar pattern. 2012 statistics of ‘album sales’ in Turkey clarifies that nearly every song in top 50 is produced with a techno music background. â€Å"This emerging genre of dance music is produced by an unprecedented level of complex technologies involving com puterized, electronic, hybrid machines that replace the traditional musical instruments. We can observe the same statistics in a global scale. We can understand techno music’s structure from digitally synthesized western chords and a digital drum kicks in every beat. In my opinion constant drum kicks in this music is a great metaphor for laborers who have to go to their workplaces and do the same assignments over and over again. Because of its basic, repetitive and computerized structure, it can be produced by anyone with a computer and adequate recording software.Alienation, in Karl Marx’s words â€Å"†¦ replaces labour by machines but throws a part of the workers back to barbaric labour and turns the other part into machines. It produces culture, but also imbecility and cretinism for the worker. † Because of its complex structure and need for creativity, you cannot find any jazz songs in the best-seller list. In a globalized world we need to understand Ma rx’s ability to foresee this capitalist trend. â€Å"The need of a constantly expanding market for its products chases the bourgeoisie over the whole surface of the globe.It must nestle everywhere, settle everywhere, establish connections everywhere† . This quote made me think about the country that earns the most money out of this sector, United States of America. If we look at the Turkish music industry, it is obvious that songs that are most listened to are influenced by western musical traditions. Instead of creating music that has traditional Turkish elements or composing creative music, people tend to produce this global and mainstream genre just to make money.Another reason for this sort of production is that approximately 90 percent of the recording software that Turkish producers use, such as example ‘Logic Pro’ and ‘Cubase’ are made in USA. These software don’t let you use microtonal notes and scales that Turkish music has. In order to produce a digital song, your composition should be in Western structure. The quote â€Å"The external character of labour for the worker shows itself in the fact that it is not his own but someone else’s, that does not belong to him†(Ibid. ) pertains perfectly to this phenomenon.Lisiunia Romenienko wrote in his article that this transformation of IT and related technology ‘has had a diametrical effect in music’. For him â€Å"Computer technology has actually unified fragmented communities involved in techno music production, increased the quality of manufactured goods available to produce techno music, and facilitated cooperation across artistic and technological community factions†¦ This has resulted in comprehensive collaboration arrangements and prolific works of music production, thus optimizing aesthetic potential and maximizing opportunities for human creativity. In contrast to his opinions I think that this transformation creates ali enation in music industry thus limiting creativity. This change causes musicians in developing countries to imitate mainstream artists in order to join the global competition. People evaluate success based on how much money one is making. In order to be a part of this competition, you have be successful, therefore musicians now create basic, pre-structured, mediocre music that affects a huge part of the society.By linking the modern capitalist society, specifically the Turkish music industry to Marx’s thoughts on alienation, one can expose crucial elements of contemporary issues. His explanations on externalization of labour and alienation in the act of production can be used to describe how musicians are alienated in our modern society. It is clear to me that this trend of globalization and mass marketing limits creativity and individuality in music, resulting in mediocre, similar and low quality works, which are devoid of color and taste. Bibliography 1. Istatistikler. â₠¬  Muyap. N. p. , n. d. Web. Oct. 2012. . 2. Romanienko, Lisiunia 2001, â€Å"Disputing Marxian Alienation and Hegelian Dialectics Through The Elective Affinities Of Techno Music† in No Walls Leicester, UK: De Montfort University 2001 3. â€Å"Billboard 200. † Billboard. N. p. , n. d. Web. Oct. 2012. . 4. Kivisto, Peter. â€Å"Alienated Labor. † Social Theory: Roots and Branches. New York: Oxford UP, 2011. 6-9. Print. 5. Marx, Karl, and Friedrich Engels. â€Å"Chapter 1. † Manifesto of the Communist Party. Peking: Foreign Languages, 1965. N. pag. Print.

Capital Punishment Essay - Death Penalty as a Deterrent to Crime

The death penalty was killed as a deterrent of crime by an undoubted man, and an innocent 12 - year - old girl was taken from her mother. This poor little girl's mother was hit by sorrow and anger, but the murderer did not want to die for himself, but to protect other innocent girls like herself. She sat and stared at the eyes of the man who killed her daughter. She saw inserting a needle containing a liquid they might take their lives. Execution of the death penalty (capital punishment) is an effective deterrence. The death penalty is a criminal who committed a crime such as rape or murder. Discussion about the death penalty has been going on for years and remains a very decisive and complicated problem. Society must protect them from these murderers by depriving their social role, but at the same time we are convicted or sentenced to death for offenses for which innocent people were not committed I have to make sure nothing has happened. Perhaps the most common argument of the deat h penalty is deterrence. The general idea is that enforcement of the death penalty prevents other offenders from committing violent acts. Many studies have been done to prove this belief. One reason for the capital punishment of the death penal servitude is the effectiveness of criminal deterrence. According to the advocates of the death penalty, potential criminals are afraid of receiving such severe penalties, so they will hesitate to commit crimes such as rape and murder. Without capital punishment, the number of deadly sins will increase like murder and murder. The bad guys are not afraid to do what they want to do, from handling drugs to killing others. If they do not punish their crime, the criminals will use the weaker people and the victims. Death penalty and death penalty can be said to be the maximum deterrent. The purpose of punishment is to serve as a deterrent to people who wish to follow the punishment footprints. Of course, if you commit a serious crime such as homici de, you are sentenced to death and actually executed, of course, this creates great fear for anyone who progresses on their footsteps. Nobody wants to die. Therefore, if a criminal knows that you will be sentenced to death if you are committed, they will not commit a particular heinous crime.

Fundamental Differences between Communism and Liberal Capitalism after Essay

Fundamental Differences between Communism and Liberal Capitalism after WWII - Essay Example Communism, on the other hand, refers to the communal ownership of public resources. Under liberal capitalism, everyone has the same share of resources and there is expected to be as little government intervention as possible. Communism is geared towards placing the ownership of resources to the people where these resources are owned communally. There exist some fundamental differences between communism and liberal capitalism. The role of individual changes depending on whether communism or liberal capitalism is at work. With liberal capitalism, each individual is independent and is expected to make their personal decisions. Under communism, each individual is supposed to contribute to the common good of the society by being a part of the production system. Under liberal capitalism, wealth is distributed unevenly unlike in communism where each individual in the society co-owns the wealth and the national resources. Under capitalism, each individual has their own wealth and this wealth is owned privately. Communists believe that each person’s needs are equal and equally important and in this regard argue that resources should be shared equally. At the same time, communists believe that by working together as a team, people can achieve more and this will lead to the welfare of the community as a whole. Liberal capitalists have different views on this. To begin with, a liberal capitalist society, it is believed when individual compete against each other, they will be the most productive and this will eventually work for the best of everyone. One of the best examples of liberal capitalism is probably the United States of America. Liberal capitalism in America has led to the inventions of so many technologies that have made the lives of people so much easier. In liberal capitalist economies such as the United States of America, individuals are rewarded for their contribution to the societies.

Interprofessional team working in healthcare delivery Essay

Interprofessional team working in healthcare delivery - Essay Example For this research, the case that will be analysed is the Case of Tom. This case has been chosen because of the following reasons. First, it puts into question the concept of patient–centeredness. In concrete experiences of patients, what does patient-centeredness means? Is it simply a mantra that we continuously repeat, but do not act upon or is it a reality for some patients and not for all? Second, because of the vagueness of the idea of patient-centeredness, the case highlights the wide divide between health policy and health care plan and that no matter hard policy makers think of coming up with ways that may theoretically realise patient centeredness of health care if it is not implemented in real cases, it is worth nothing. Third, it brings to the fore the issue of decision-making in cases of patients that are incapacitated in making the decisions for themselves. Fourth, it emphasises the unclear position of parents in decision-making when it comes to their child who is vulnerated by multiple learning disabilities. Fifth, it presents a stark contradiction to the ideal of interprofessional teamwork to achieve the best quality health care that can be provided to the patients. Finally, sixth, it brings us back to the basics of humanity – rights, dignity, respect, and human integrity. With these reasons, it will focus on the concept of interprofessional teamwork. The idea of patient-centred is the core of health care plan and interprofessional teamwork in health care services. ... These are 1. The issues pertinent to the autonomy, integrity, and dignity of Tom. 2. The ethical concern regarding decision-making in cases where in the patient is incapacitated to make an autonomous decision. 3. The issue of double standards in care vis-a-vis neglect in providing care. 4. The ethical issue of duty of people who are primarily responsible in providing the necessary care for Tom’s condition and 5. The ethical issue of malfeasance as a result of the negligence of the primary health care providers of Tom. All of these ethical issues are manifested by the failure of the health care team to assess, address and treat the expressions of pain by Tom, which is repeatedly re-affirmed by his parents. In this failure, the entire team failed to recognise and respect the dignity and integrity of Tom as a patient (Gaskell & Nightingale 2010). Tom is in a vulnerated condition of profound and multiple learning disabilities, which places him in a constant situation wherein his d ignity and integrity as a person is injured. In this context, treatment should be made available and accessible indiscriminately (Kottow 2010). In his condition, dignity in disease should not be equated with ‘dignity in uprightness’, but it is a differing dignity where â€Å"it is not so important whether we are sick or healthy; what matters is to be sick in a healthy way, and not healthy in a sick manner. In the question of autonomy, it is apparent that Tom is incapable of making an autonomous decision. As such, in his behalf, his parents have consistently shown that they are advocating for their child. Beauchamp and Childress (2009) have explained that the norm in disregarding parental decision in terms of treatment is when the decision is refusal of treatment that is

The Impact of Location on the History of the Middle East Region Essay

The Impact of Location on the History of the Middle East Region - Essay Example How the middle Eat contributed into the development of civilization is not questionable. According to Goldschmidt Jr., â€Å"many Westerners do not know what they have learned from Islamic culture† (Goldschmidt, 2009). From the clothes that people wear, to the games that people play, to the food that people eat and substances that people drink, the Middle East had given her own share in developing the world’s lifestyle and culture. Take into consideration the root words of cotton, chess, coffee, kebab and pita. (Goldschmidt, 2009). Looking into the Middle East’s physical setting plays a very big impact on this region’s cultural and historical nature. By definition, Middle East as running from the Nile Valley to the Muslim lands of Central Asia (roughly, the valley of the Amu Darya, or Oxus, River), from southeast Europe to the Arabian Sea (Goldschmidt, 2009). Yet, this region had stretched and shrunk complexly throughout the history over dynasty affairs and world wars. This location makes it more natural for the region to be hot and dry which led into a distinction between nomads, who were not able to live up through the challenge of the climate and farmers who were able to turn the climate challenge into productive agriculture. The Middle East is the natural crossroads of the Afro-Eurasian landmass and it is also the "land of the seven seas" (Goldschmidt, 2009). This makes the region readily accessible for all traders making the growth of their civilization even more rapid than the others. But the relative growth of civilization in the Middle East different from those that has become a world power in history like China, United States and Britain, who saw themselves as primarily isolated but were able to develop and grow as a civilized nation as well. But as regards to its natural resources, Middle East’s location, unlike the European Countries and the United States, is not gifted of grassy plains and yet, this location magnified the region’s importance because of the huge petroleum deposits present here. Most importantly, the location of Middle East, as it is, â€Å"has contributed to the diversity of its inhabitants†

HLS-Response and Recovery Case Study Example | Topics and Well Written Essays - 2500 words

HLS-Response and Recovery - Case Study Example There are numerous events that can cause emergency situations: fires, floods, hurricanes, tornados, earthquakes, winter storms, hazardous material incidences, civil disturbance, communications failures, radiological accidents or explosions of any kind (FEMA, 2011). Emergency response and recovery are just two of the components of emergency management. Emergency management is defined by FEMA as â€Å"the process of preparing for, mitigating, responding to and recovering from an emergency†. The response and recovery strategy for organizations should be designed for the benefit of everyone in the organization. The strategy should also support business continuity. Response of an emergency involves mobilizing all the emergency services and first responders to the area that has been hit by an emergency. In the response phase, some of the core emergency services that come in handy include ambulance, firefighters and police. If need be these services may receive support from specialis t rescue teams, it all depends on the type and severity of disaster. The response plan should have the following components: planning, reviewing, training and testing (Department of Homeland Security, 2011). For the response to be successful, the organization would need to prepare an emergency plan that also needs to be well rehearsed. This does help in enhancing the efficiency of the coordination of the rescue mission. While responding to an emergency situation, it is important that the organization maintains both discipline and agility. This, when combined with the formation of a functional leadership rescue team, makes containment of the situation very easy and efficient (Gigliotti and Jason, 1991). A disciplined and agile team involved in response activities within an organization can easily adapt to any changes in the emergency situation and still carry out their rescue mission successfully. The other part of the emergency management strategy of any organization after response is recovery. The main goal of this phase is the restoration of the organization back to its previous state. Unlike response, recovery efforts are focused on addressing the immediate needs of the organization after the rescue mission is complete. Recovery therefore deals with the issues and decisions that will have to be made in order to ensure that the organization’s operations return to normal, or to how they were before disaster struck. Recovery efforts may include the rebuilding of destroyed property and facilities, repair of infrastructure and re-employment (Maniscalso and Christen, 2002). Recovery efforts should always aim to reduce the risks that led to the disaster. For the recovery efforts to be successful, they need to be well planned and executed. What are the key plan components that should be periodically updated? Evacuation plans An organization’s emergency plan needs to be updated regularly in order to conform to the current needs. Reviewing the emergency evacuation plans is one way of ensuring that the response measures that are in place are as current as possible. For instance, if a company expands or changes its facilities, its evacuation plans also need to change to reflect the changes that have occurred. If the company happens to increase its workforce, the emergency evacuation plans will need to be re-evaluated to accommodate the increase in the number of employees.

Effect of Hourly Rounding on Clients Satisfaction in a Pediatric Research Paper

Effect of Hourly Rounding on Clients Satisfaction in a Pediatric Facility - Research Paper Example The group of participants will be taken from a specific period of time, which is the month of April, so that the study will cover a specific time to have uniformity in time and place of the study to have unbiased outcome. Research Design: To show the correlation of hourly rounding to patients’ satisfaction, the experimental research design will be used in the study. By using the experimental research design the hypothesis will be tested and the relationship between the independent and dependent variable, the hourly rounding and the satisfaction level of clients respectively, will be duly established. Experimental research design is used in the study for experimental research designs best establishes cause-and-effect relationships between variables. Measures: To have clear and precise answers not deviated from the result intended for the study, a research survey questionnaire will be used in the soliciting definite answers regarding patients’ satisfaction on those who ha ve visited the emergency department during the month of April, 2012. The research survey questionnaire is composed of questions regarding patient satisfaction in 3 aspects during their visit in the emergency department: satisfaction on staff, satisfaction on communication process within the unit and the over-all satisfaction during the visit in the emergency department. ... Procedure: The participant will be chosen using a systematic random sampling method. Participants will be taken from the hospital’s data base choosing from the list of clients seen and experienced service at the emergency room department in a specified period of time, in this study during April 2012. A cover letter will be sent to participants together with the questionnaire explaining them of the purpose and significance of the study in bringing better service to clients by rating their satisfaction during the time of visit. Rest assured of confidentiality that their identity will not be revealed outside the scope of the study. After all questionnaires have been distributed analysis of the answers will be made using the Analysis of variance that will show if there is a direct relationship of hourly rounding in patient satisfaction that will be revealed with a high percentage of a very good scale versus the very poor scale which will reflect client satisfaction. Scope and limi tations of the study The be able to come up with an unbiased outcome, the study will only cover participants that have encountered service during their visit at the emergency department to solicit if whether they have been satisfied with the service they have received only during the month of April to have uniformity in time and place assuring that the study will not be controlled by other outside variables and so to make sure participants are treated under the same conditions to have unbiased outcome. And since the hospital is a pediatric facility clients will mostly be consisted of underage children, in this case the scope will regard relatives and parents of patients as clients as due to legality of the study thus clients under 18 years old will

Forcasting Stratigy for Power Tool Industry Essay

Forcasting Stratigy for Power Tool Industry - Essay Example The strategies of the company to drive themselves in to future success are; Innovation, Structural Cost Improvements, Cash Generation and Stewardship of Capital. The 'Innovation to end-users' was the critical strategy for this company. The company's 'new-product machine' was the innovative solution of the company which enabled them to achieve extremely loyal end-users as well as benefited their distribution partners to serve a broad range of channels. The company's product vitality index remains above 35 percent. While reducing costs of manufacturing and selling and general administration costs filled the cost improvement and cash generation strategies, the acquiring of Vector products Inc manufacturing consumer power portable products and the buyback of the shares represented their strategy of stewardship of capital. (Black & Decker 2006 Annual Report) This company places its strength on the industry leadership in battery and charger technology with its LXT Lithium-Ion battery and charger system. The first cordless drill was introduced by the company nearly 30 years ago. Manufacturing innovative cordless tools with designs to allow the users all the convenience cordless offers without sacrificing the power or efficiency of a corded tool is the key strategy for this company. The advancement achieved in motor technology is also another key strength. (Makita web site) 2.3 Bosch: With over 1000 different products this company offers a broad product range catering to the building trade, industry and do-it-yourselfers. Wide product range is the key strength of this company. The company has also made its presence felt in the cordless power tools with its products like cordless screw drivers, piercing saws and hammer drills. The long-term strategy of Bosch is to generate approximately half of their sales in the Americas and Asia and the other half in the European market. Diversification is the central theme of the strategic objective of Bosch to make the company less vulnerable to fluctuations in individual industries. (Bosch Home Page) 2.4 Porter Cable The key strength of Porter cable is their range of products which meets different range of customers. They manufacture tools for every customer; new home construction to building maintenance and from farms to major wood-working. Similarly they supply to all classes of customers from professionals to casual weekenders. Power, agility, responsiveness and perfect performance is at the root of the porter cable's product strength. With a view to take the strategic advantage of marketing, Pentair Inc the owner of Porter Cable tools had agreed to sell all its tools brands to Black & Decker. (Porter Cable Home page) 3.0 Developing a Strategic Forecasting for Able Corporation: There can be no strategic planning without forecasting. The ultimate objective of strategic planning is to determine what the company should be in the future; what markets to compete in, with what products, to be successful and grow. To answer these

Strategic value of information systems Essay Example | Topics and Well Written Essays - 2000 words

Strategic value of information systems - Essay Example The ultimate goal of Information Systems Management is to assimilate the utilization of information technology into business models and business processes to scrutinize its potential to attain business goals. Todays in the scenario of globalize market, which is full of large enterprises; the competition is getting tougher and tougher. As a result, IT departments are ponderous to become more aligned with business. There are lot of models for calculating the profitability with the incorporation of information technology but they all are trying to explore the conjunction between IT investments and the company's financial result .The process of introducing and use of new information technology in organizations is based on the skills and knowledge of experts who has the ability to master a series of interdisciplinary skills. Other factors like organizing and managing human resources, long term planning, employment, training, motivation, encouraging creative work and proper stimulating are also significant. Psycho-sociological and managing processes also depend on the working conditions, type of work and area of work, availability of human resources and skills available, working atmosphere, and other factors. It is imperative that the development of information technology department is the responsibility of information technology management and should offer the effective ways and leadership qualities to manage the human resources efficiently. Following are the issues that executives must consider, examine and evaluate while making decisions regarding the strategic value of information systems. Business And Knowledge Management Organizations are facing ever-increasing challenges, brought on by marketplace pressures or the nature of the workplace. Many organizations are now looking to knowledge management to address these challenges. Such initiatives are often started with the development of a knowledge management strategy. To be successful, a KM strategy must denominate the basic necessities and issues within the organization, and furnish the architecture for incorporating all these factors. Every organization has a specific environment and different set of requirements, signified by various factors like size of organization, its aim and activities of the organization, overall strategic direction, accessibility of resources, geographical situations and many others. As a result knowledge management strategies follow either top-down or bottom up approach for the organizations. This main emphasis of these strategies is to provide the architecture for the selection and prioritization of individual projects and activities. Again this strategic focus depend on the number of factors that include: Organizational strategy documents, such as the corporate plan or annual report Involvement of Senior management Results of other strategic research projects, such as staff satisfaction surveys. External market research. 2. Psychological Factors According to psychological aspect factors that leveraged factors of IT development are as follows: Professional contributions of each individual Level of personal professional development and satisfaction at work Communication whether formal or informal, also plays significant role in the development of

The Impossible Budget Deficit Essay Example for Free

The Impossible Budget Deficit Essay In his article, â€Å"Trouble, Trouble, Debt, and Bubble,† Tabb (2006) writes that the United States is importing far more than it is exporting.   The high consumption of the United States is due mainly to the reason that the rich people of the country must maintain their upper class status and high standards of living.   But the country is not earning enough to support its expenditure.   At one time or another, the United States would also become unable to pay the interest on the foreign debt that it is using today to maintain its high consumption.    The country may become bankrupt at such time, and the rest of the world would suffer because it would not have the United States to buy its goods.   Ã‚  Ã‚  Ã‚   While the author’s analysis makes sense, I would not blame the upper class consumer in particular for maintaining high consumption.   I believe that the capitalist or the industry of the United States is equally responsible.   The author also mentions the relation of the U.S. dollar’s value to the global economy.   A decrease in the demand for U.S. dollars can lead to a depreciation of the value of the currency with respect to another country’s currency.   Indeed, the fall of the U.S. dollar would turn out to be a curse for the global economy, although it may benefit the U.S. economy for some time (Tabb).    By making U.S. exports cheaper to other countries, it would increase the aggregate demand for U.S. goods which would in turn give the United States the income that it needs to fuel high consumption.   The United States can hope to reduce its current account deficit and trade deficit through the decline of the dollar, for it is obvious that making U.S. goods and services cheaper to foreign importers may very well increase the aggregate demand of U.S. goods and services, thereby fueling the growth of the U.S. economy.   Still, the benefits to the U.S. economy may eventually be offset by a fall in the aggregate supply of foreign goods into the U.S. market, seeing as foreign nations would stand to lose by selling to the U.S. consumer market and facing a reduced dollar value in return.   Ã‚  Ã‚  Ã‚   Tabb does not offer real solutions to the problem that the U.S. economy is facing at present.   All the same, it is obvious that the entire global economy is in danger because of the troubles facing the United States economy.   Thus, Tabb’s article offers food for serious thought.   It is mind-boggling, yet essential to reflect on. References Tabb, W. T. (2006). â€Å"Trouble, Trouble, Debt, and Bubble.† Monthly Review, Vol. 58, Number 1. Retrieved Nov 25, 2007 from http://www.monthlyreview.org/0506tabb.htm.

Hobbes` Rwandan Leviathan Essay Example for Free

Hobbes` Rwandan Leviathan Essay In 1994 the world publicity was shaken by the events in Rwanda, which later were written down in the history books as ‘Rwanda crisis’. According to the local sources, however, this tragedy had been rooted long before the indicated year, particularly it is reported to start in 1990. 1990 is marked by Uganda forces having invaded Rwanda. In addition, this was aggravated by the fact that two presidents of Burundi were assassinated. In order to get the more complete outlook on the situation before the crisis one should be aware that in 1994 (before the black day of the President of Rwanda, Habyarimana, killing) there were one million of displaced people in Rwanda constantly fleeing from the north of the country to the capital Kigali (1, 2006). Hence, to accommodate for all this vast mass a very huge refugee camp had been organized. After their President was killed these people rushed to the city to grab everything they could. As a result there were more than 300 000 deaths between 1990 and 1994, which prevents us from limiting the crisis to the year of 1994 only (1, 2006). But this was only a preface. In brief, the Rwanda crisis can be described as follows: â€Å"The lives of nearly a million people had been taken within 100 days in 1994, as extremist members of the Hutu majority turned on the Tutsi minority and moderate Hutus, vowing to exterminate the Tutsi and their influence on Rwandan society† (2, 1994:4). This massacre was stopped only when the Tutsi-dominated Rwandan Patriotic Front (RPF) threw down the acting genocidal government. Yet, that developed into another blood bath with over two million of Hutu refugees heading for Burundi, Tanzania, Uganda and Zaire (current the Democratic Republic of Congo), etc. Just five days from July 14 to 18, 1994 about 850,000 people crossed the border to Goma in eastern Zaire (2, 1994:5). Even today these to the great extent, innocent Hutus are deprived of basic human rights and numerous cases are known when their human rights have been abused by the RPF (that is now at the helm) and they were returned by force to their Motherland where they do not have any rights at all. The major part of the refugees fled out because of fear convinced (owning to Hutu Power propaganda) that the Tutsi were a â€Å"subhuman† race willing to enslave and extirpate the Hutu people. However, their genocidaires quickly took over the refugee camps. Instead of safety refugees found intimidation, starvation, tortures and death. International humanitarian organizations were powerless and forced to provide aid through the genocidaires or just leave hundreds of thousands of refugees in trouble and distress. The Rwanda crisis proved how unprepared was the international community to dealing with refugee crises that involved threats to peace and security in the world. What is more, the novel Rwandan government together with their allies from Zaire attacked and wiped the refugee camps off the face of the earth claiming that ‘the camps posed incredible and intolerable threat to Rwandan security’ (3, 2006). Thousands and thousands of refugees were killed. Thousands more fell victims to cholera that set in along with other contagious diseases (such as dysentery, malaria, etc. ) as a consequence of people’s exhaustion, lack of food and drinking water. One may suppose that the described above conflict and crises that follows may definitely be a vivid example of Hobbes’ ‘rational’ theory according to which every man lives in fear, as well as the father of rational philosophy did himself. Hobbes once mentioned: Fear and I were born twins together (4, 1996; I: 11). In his main theoretical work and his masterpiece, the Leviathan, Hobbes suggested that there are two methods of state formation: commonwealth by institution commonwealth by acquisition (4, 1996; XIX: 147). With regard to the former, Hobbes supposed that at the uprise of civilization, individuals existed in such state of nature, when life was a perpetual conflict in which men were one another’s enemies. Furthermore, different individuals had relatively equal power, thus being unable to guarantee actual personal security for themselves. As a result, due to such hostile environment, the individual, suffers continued fear, and the danger of violent death and a way of life that is solitary, poor, nasty, brutish and short (4, 1996, I: 12). Even more, â€Å"nature hath made men so equal in faculties of body and mind†¦Ã¢â‚¬  that no â€Å"man can thereupon claim to himself any benefit to which another may not pretend as well as he† (4, 1996, XVII: 118). In general, this may be regarded as a society without acting laws and authorities with â€Å"all man have a right to everything†, and situation when â€Å"no action can be unjust† (4, 1996, XVII: 118). Moreover, the described state of nature leads, according to Hobbes, to the condition of war war of all against all, in which human constantly seeks to destroy each other in an incessant pursuit for power (4, 1996, XVII: 118). However, this is not the war we are used to denote with this word. It is rather a condition of awareness about enemies than the act of violence itself. Instead of promoting war, Hobbes emphasizes that war cannot bring any benefits or provide any additional security. His purpose is to convince the readers that ruling power would save people from those unnecessary perils caused by the state of nature. Hence, such unfavorable state of nature, as Hobbes puts it, should and will prompt individuals to organize a ‘civil state’ with a monopolistic sovereign on the head by means of force and coercion. Such monopoly with absolute power will be able to ensure to the individuals safety from other members of their society, as well as protect from external intrusion. Therefore, from the recognition of the necessity for social order and peace people consent to obey to the sovereign. (4, 1996; XVIII: 127). Therefore, it would be more accurate to consider Hobbes’s ‘war’ to be a kind of competition or contest not the real military operations involving victims and bloodshed. It can be compared even to the emulation between two men who want to attract some woman they both like. Moreover, the author of Leviathan himself drives us to this conclusion by the following words: â€Å"So that in the nature of man, we find three principal causes of quarrel. First, competition; secondly, diffidence; thirdly, glory† (4, 1996; XVII: 119). He explains this again by the human nature, namely its faults: all men are by nature provided of notable magnifying glasses (that is their Passions and Self-love,) through which, every little payment appeareth a great grievance; but are destitute of those perspective glasses, (namely Moral and Civil Science,) to see a farre off the miseries that hang over them, and cannot without such payments be avoided. From this point of view, it seems, to my mind, obvious, that Rwanda civil war is not the case of Hobbes’ ‘state of war’. For Hobbes seizure of power meant improvement of the living conditions of people, even more it was the only way of providing them. The best society organization, from his standpoint, was the commonwealth in the meaning â€Å"a multitude of people who together consent to a sovereign authority, established by contract to have absolute power over them all, for the purpose of providing peace and common defense† (4, 1996; XVII:124). As it has been mentioned, â€Å"the purpose of establishing a commonwealth is to escape the state of nature and to provide peace and the common defense of the people; the sovereign is responsible for ensuring this defense† (4, 1996; XVII: 124). Remarkably, that the so-called ‘sovereign’ should not necessarily be a single person – it (or ‘he’ as Hobbes uses denotes it) may be comprised of a group of people who purpose at a common aim. Moreover, the sovereigns task is not limited to promoting safety of the people but according to Hobbes, it covers also promotion of economic well-being of the community, sufficient nutrition, etc. By the latter Hobbes implies distribution of materials conducing to life : in concoction, or preparation, and (when concocted) in the conveyance of it, by convenient conduits, to the public use. (4, 1996; XVII: 126). Furthermore, ruling from the fact that there is no such state that can fully supply itself with all necessary resources, as there is no territory under the dominion of one commonwealth, (except it be of very vast extent,) produceth all the things needful for the maintenance of the whole body, Hobbes supposes that the state will import goods or resources from other states through normal trade (4, 1996; XVIII: 137). Hence, as we can see the situation with Rwanda coup detat and Hobbes’ process ad goal of taking power are worlds apart. The same refers to the consequences. Whereas the latter should theoretically results in prosperity of the citizens, the former lead, in fact, to the numerous casualties, famine, etc. Furthermore, in Rwanda there was no realization of ‘rational choices’, rather it was the outburst of ethnic hostility than an effort to capture power in order to improve the welfare of the people. In addition, though Hobbes’ tenet primarily touches upon sovereignty established on the basis of agreement, the scientist maintains that sovereignty reached through acquisition i. e. force entails the same rights and obligations covered by the contract (also called ‘covenant’ or ‘social contract’, which is â€Å"the act of giving up certain natural rights and transferring them to someone else, on the condition that everyone else involved in making the contract also simultaneously gives up their rights. People agreeing to the contract retain only those rights over others that they are content for everyone else to retain over them†) (4, 1996; XVIII: 139). The only difference is the way in which the sovereign comes to power. If a sovereign comes to rule by institution he is supported because people fear each other. And, in contrast, if he comes to rule by acquisition he is supported because people are afraid of him himself, which does not goes apart with the theory of state of nature. Hence, in both cases, the people literally enjoy the same rights, whereas in Rwanda they were completely deprived of any rights. Nevertheless, for Hobbes the second method can be compared with slave-master relationships (without a slave having right to rebel), in Hobbess own words: â€Å"The master of the servant, is master also of all he hath; and may exact the use thereof; that is to say, of his goods, of his labour, of his servant, and of his children, as often as he shall think fit. For he holdeth his life of his master, by the covenant of obedience; that is, of owning, and authorizing whatsoever the master shall do. And in case the master, if he refuse, kill him, or cast him into bonds, or otherwise punish him for his disobedience, he is himself the author of the same, and cannot accuse him of injury† (4, 1996; XVIII: 141). David Gauthier also argues that â€Å"a servant is hardly involved in the decision making calculus of the master; instead the servant exists to carry out the formers dictates† (5, 2000:114). Yet, on the Rwanda’s example, the people defended and rebelled against their genocidaires, thus, they refused to perform the role of servants presupposed by Hobbes. To sum up, the Rwanda crisis has nothing in common with possible transfer to Hobbes’ model of state organization. It was founded on the ethnic hostilities that caused in the long run change of ruling power. Moreover, the purpose of the new government, in my opinion, was not the welfare of the people and the country but mere revenge for years of oppression. What is more, the people, though proving to some extent their natural (in accordance with Hobbes) inclination to being enemies to each other, did not resign themselves to the fact that they should be obedient and humble servants but rebelled instead and fought until the last breath. Nevertheless, even if the conflict is motivated by not the ethnic animosity but the rational choice, I will not recommend Hobbes’ reform of the society organization. At first glance, the objective and functions of his Commonwealth seem to be very promising, for example, preserving the society, establishing an internal order or peace, defending that peace against external violence, etc so that after all individuals can live peaceably (4, 1996; XVIII:145). However, I do not believe in such Utopia as for me it is evident that Hobbes’ state has all features of what is considered or ca turn in future into the totalitarian state (recall those master-slave relationships, overall power of the sovereign, etc. ). Our history has already proven that this form of governing is not applicable and is out-of-date with regard to our world and our life. Whatever the conflicts are, and no matter what leaders come to the rule they should bear in mind that our future is democratic one and there is no place on the earth to dictators and totalitarianism. Bibliography 1. Rwanda the Great Genocide Debate. Retrieved from University of Dayton Library on February 14, 2006: http://www. udayton. edu/~rwanda/articles/genocide/noendinsight.html 2. Rwandan apocalypse by Chris McGreal in Goma, Ian Katz from Guardian, Saturday July 23, 1994, p. 4-6. 3. The Rwanda Crisis: History of a Genocide 1959-1994, published by Hurst and Company Ltd, 1995. Retrieved on February 14, 2006 from: http://www. humanrightsfirst. org 4. Hobbes, Thomas (ed. ) Tuck, Richard â€Å"Leviathan†. Cambridge University Press, 1996 5. Gauthier, D. P. (2000). The Logic of the Leviathan: The Moral and Political Theory of Thomas Hobbes. Oxford: Oxford University Press, p. 114-116.

Fair Value Accounting (FVA) in Barclays Bank Plc

Fair Value Accounting (FVA) in Barclays Bank Plc Before starting Research Methods, it is vitally important to understand the real meaning of Research in general. Research is a planned and methodical approach of finding answers to the questions'(R Cottrell J F McKenzie; 2010) It is an organized set of actions and steps which we will follow to achieve our objectives. There are many factors in Research Method which are always done to get the most precise results. Research is a pre-planned method, not a spontaneous approach. It is focused and limited to a particular scope. A good research is focused on appropriate, valuable, imperative questions and their answers. If there are no questions, there is no point of doing research and similarly finding answers to those questions is the most important. Whether its an answer to a hypothesis or even a simple question. A good research is ineffective unless we find the answers to the questions. A good Research is a major key to complete a successful project, report or Dissertation because if the research is not professional and well organized, then it is nearly impossible to complete a Project or Dissertation. TYPES OF RESEARCH METHODS:- Research methods can be categorised into two types. They are:- Deductive Research and Inductive Research. In research methods, conclusions are based on these two methods. Both are widely used in research projects. DEDUCTIVE METHOD:- Deduction follows an approach which is top-down or from general to specific. Aristotle a Greek philosopher described deduction as Drawing conclusions by applying rules or principles; logically moving from a general rule or principle to a specific solution(www.hubpages.com/hub/Types-of-Research Dated:03-05-2010) It is the procedure of getting a conclusion that is certain to pursue, if the data given is factual and the analysis used to achieve the conclusion is right. In deductive method, the grounds (facts) give an assurance of 100% accurate conclusion. EXAMPLE OF DEDUCTIVE METHOD:- There are 15 packs of cigarettes on the top-shelf of the cigarette case, There are 7 packs of cigarettes on the lower-shelf of the cigarette case. There are no cigarettes anywhere on the middle-shelf cigarette case From the above, it can be concluded that there are 22 packs of cigarettes in the cigarette case. INDUCTIVE METHOD: Induction method is from precise to general. In induction, we scrutinize some events, deduct a pattern and draw conclusion. This method involves moving from an exact condition to a common conclusion. This method is undefined and investigative. It does not give 100% assurance of reality but a chance of being accurate. EXAMPLE OF INDUCTION METHOD:- This coffee is hot. (Specific, based on a direct observation.) All coffees are hot. (General, can be applied to any ice) OBJECTIVES OF RESEARCH METHODS: The key objectives of this research are:- To Critically Analyze the Role of Fair Value Accounting (FVA) in Barclays Bank Plc. Norbury Branch, London and what are its effects on Barclays Bank Plc. before, during and after Credit Crunch? To Investigate whether the systematic risk is associated with the financial crises of Barclays Bank Plc. or not? To Highlight the impact of market to market reporting in contributing financial difficulties for Barclays Bank Plc. To Find out the contagion of Barclays Bank Plc with Recommendations Conclusion. KEY LITERATURE REVIEW:- An efficient banking system is an indicator of sustainable economy (Imola; 2006). Banks perform fundamental roles not only in financial system of a country but also globally due to their nature of business performance and corresponding assets policy. Banks play the role of financial intermediaries in an economy (Imola; 2006) FAIR VALUE ACCOUNTING: DEFINITION: Financial Accounting Standards define Fair Value Accounting as: The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (Whittgton; 2008) ROLE OF FAIR VALUE ACCOUNTING AND ITS BACKGROUND: In accounting, fair value is used as an estimate of the market value of an asset or liability for which a market price cannot be determined. The measurement of assets and liabilities takes place at three levels. At the first level, the fair value of an asset or liability is calculated at quoted prices if the market is active for that asset and liability. At second level, the cost of similar assets and liabilities are taken for evaluation and at last level, the market for these assets and liabilities are not available, the standard supports to use market to model approach for valuation of assets and liabilities (MacNamara; 2009). Evaluation of assets and liabilities at Level three is considered to be more problematic. This increases the manipulation risk because of non availability of market prices. (Penman; 2009) argue that for most of the loans, the quoted prices are not available in the markets. Even if the prices for these loans are available, they do not reflect the private information of these loans for banks. Therefore, to determine the fair value of these loans, different valuation models are used (Penman; 2007). Financial Accounting Standards (FAS) allows financial institutions to report their assets at level three but the opponents of (FAS) argue that it has forced banks to value troubled securities at lower prices (MacNamara; 2009). Wall Street Journal claims that the reporting of assets and liabilities on Fair Value Accounting (FVA) causes financial institutions and banks to write down their mortgage backed securities (Gold, 2008). However, most of accountants, regulators and investors defend this by arguing that it provides more accurate and transparent reflection of a company‘s position (MacNamara; 2009). Kurt N. Schacht managing director of CFA (Institute of Chartered Financial Accountants) argues that fair value measurement is only relevant information under the prevailing circumstances (Gold; 2008). ADVANTAGES AND DISADVANTAGES OF FAIR VALUE ACCOUNTING (FVA):- Many Banks around the world have started revising their estimates of credit losses. Several parties blame FVA for the sub prime crisis (G.Ryan; 2008). The controversy has been observed during the discussion paper on Statements of Financial Accounting Standards (SFAS 2006) that the interpretations made by Financial Accounting Standards Board (FASB) about fair value ignored the transaction costs and entity‘s specific assumptions (Whittington; 2008). However, the advocators of FVA argue that FVA is not responsible for crisis. It is just a reporting and measurement system of assets and liabilities (Christian Laux; 2009). Wallace (2009) suggests that the fair value accounting is not the main cause of current financial crisis. He names it as a messenger of current crisis and advocates that FVA has helped us to recognize the problem earlier otherwise the situation would be much worse as compare to its current position (Wallace; 2009). Moreover, the advocators argue that the accounting rules contradict with framework of institutions. They point out that sometime managers make deviations from market prices due to their own interests (Christian Laux; 2009). Singleton (2006) argues that historical cost accounting is out of date and there is a strong possibility that management manipulate it. In modern era, the current values based reporting (e.g. market based) are more relevant and reliable. Henceforth, the supporters suggest that it is difficult to say that FVA is responsible for the current crisis (Singeton; 2006). The supporters further assert that under FVA, assets and liabilities are recorded at the price, at which these assets and liabilities can be sold (Gold; 2008). Thus, FVA represents the current market condition and provides accurate financial information of an entity. (Stephen; 2006). In support of FVA, Stephen Penman (2006) mentions the following points. Firstly, inventors are more interested in value not in cost. Secondly, in prevailing situations the historical prices are not relevant to provide up to date financial position of a business. Thirdly, the fair value is based on reality of assets and liabilities actual financial position. Further, it reflects the true economic substance. Finally, as markets are efficient, they are not influenced by a single firm or business. Therefore, the information based on market prices is more relevant (Stephen; 2006). Finnegan (2009) concludes that FVA is suitable to apply in both periods e.g. when market prices are available as well as when markets are inactive and market prices are not available (I.Victor; 2009). However, the opponent asserts that FVA is irrelevant and misleading especially for those assets and liabilities which are held for long term (held to maturity).They further argue: firstly, as efficient market hypothesis theory does not always true in real life. It fails in some situations. Therefore, in the situation of inefficient market FVA provides wrong information to investors and creates liquidity problems. Secondly, FVA measurement model are not reliable and finally, FVA contributes pro cyclicality in the financial system (Mary E. Barth; 1995). In spite of all criticism, The FASB IASB believe that fair value measurement of financial assets is more relevant in producing useful financial position of firm as compare to historical cost based measurements. They argue that fair value shows the current cash equivalent of the business‘s financial instruments rather than the price of acquisition of financial instruments (Benston; 2008). Further, supporting FVA, the former chairman of SEC Mr. Breeden, suggests that all financial institutions like banks as well as publicly held companies should report their financial position on market based because market based information are most relevant to financial attributes (Mary E. Barth; 1995). Allen and Carletti (2008) assert that banks may become insolvent with the effect of market to market prices. The valuation based on market prices creates instability in market prices that affect the value of banking assets and this leads to ruin banking portfolio and contagion (Mahan, 2009). However, the advocators of FVA assert that it has provided early warning of current crisis and asked banks to take corrective actions (Wallance; 2009). Mahan (2009) points out that the fair value is not a single reason of the current crisis the other factors, for example, inadequate risk management, poor lending requirements, the assessment of rating agencies and insufficient capital requirements are also contributors of these crisis. Mahan (2009) claims that the banking regulation, especially the capital requirement is also one of major reason in failure of banks. However, the logic behind the capital requirement of regulators and central bank is the same as the secured loans issue by banks to creditors to protect market from financial distress and keep insurance of market discipline. Recently, the London based International Accounting Standards Board (IASB) declared that they are going to change the market to market rule and will follows the United States Standard. Recently, the US companies are reporting their assets under level three categories (Morgan; 2009). BARCLAYs BANK PLC. CONCERN ABOUT FAIR VALUE ACCOUNTING (FVA) DURING FINANCIAL CRISIS:- Barclays explain the following reasons for rejection of FVA during financial crises. Firstly, they argue the FVA is irrelevant for investors. It does not communicate the rationality (Christian Laux; 2009). Critics of FVA have accused it of pouring fuel on the fire rather than simply measuring the flame (Morley; 2008). Secondly, it is not suitable for banking industry and finally, they said fair value is inappropriate for those assets which are held for long term (i.e. held to maturity) and the assets which have no active market (i.e. for illiquid assets). In the mid of 2008, when the crisis reached at its maximum point, the bank started blaming FVA and their main focus of criticism was the valuation of liquid assets. Barclays argue that FVA has played an effective role in creating these crises. On the other side of the coin, (Ball; 2000) (Leuz; 2003) suggested that investors, and other interested groups e.g. Accountants and customers have opposite opinion. These interested groups are against the suspension of FVA standards. For example, during November 2008, the joint letter to SEC the Consumer Federation of America, Centre for Audit Quality, Council of Institutional Investors, Investment Management Association, and CFA Institute assert that investors are more confident on the standards (i.e. FVA) which are more transparent and report current and relevant information for valuation of financial instruments regardless of the direction of markets (Christian Laux; 2009). Nicolas (2008) argues that the illiquidity criticism spots light at the market conditions for many financial instruments. These instruments were imbalanced from August 2007 and were not reporting the true prices in markets on the basis of demand and supply principle. Most of prices did not reflect the potential to generate the future cash flows associated with an assets or investment. Nicolas (2008) further argues that fair value compelled Barclays Bank Plc. to record assets and liabilities on the value which is unjustified by economic conditions. Resultantly, Barclays Bank Plc. was forced to raise new capital under depressed valuation conditions to meet the legal solvency requirements which resulted in reduction in the equity value of existing shareholders. The pro-cyclicality criticism of fair value is based on the idea that when there is boost in market prices it apparently strengths the balance sheet of Barclays Bank. However, in the time of reduction in market prices, it damages the economic position of the bank more severely (Amola; 2006). Futher, Nicolas ( 2008) argues that as the studies support that markets do not work efficiently during the time of crisis when every participant is in the condition of uncertainty and market information are disordered. Therefore, the accounting standards which rely on market‘s information, damages the decision of it‘s users. Additionally, he argues that criticism of pro-cyclicality of FVA is not only when markets are inactive for securities but also in the normal conditions of economy (Nicolas; 2008). Regardless of criticism of FVA, Wallace (2009) suggests that elimination of fair value standards is not solution to the problem. The government should focus on stabilizing the financial markets, rebuilding investors confidence by promoting liquidity conditions in markets and improving regulations (Wallace; 2009). Barclays Bank can overcome the shortcomings of historical cost accounting. Reporting at FVA standards, the bank can record their financial instruments including loans at fair value (market based price). Buckland (2005) also argues that for the purpose of monitoring and supervision, the supporters of FVA consider it more reliable source of information. EMPIRICAL LITERATURE REVIEW RESEARCH OBJECTIVES:- During existing literature review, I observed that mostly, the underlying subject has been discussed working papers, reports, conferences and general argumentations. The following literatures give the guidelines to understand the issues related to financial crisis, systemic risk and FVA standards. I went through the following literature to understand my topic of research. Magnan (2009) provides general overview of FVA on financial statements. He briefly explains the origins of FVA, its applications and role in the financial crisis. He believes that FVA has contributed in acceleration of financial crisis especially in banks and financial institutions (Magnon; 2009). Magnan (2009) explains, how fair value has contributed and created financial crisis? He describes that at the start of 2007, some of the financial institution‘s (including Barclays Plc.) assets and liabilities drop in value and this drop in value forced these institutions to report assets and liabilities lower at their balance sheets. This reporting at lower value negatively affected their capital adequacy ratios (Magnan; 2009) Morley (2008) discusses the role of accounting standard setters and their comments about the FVA. Further, spotting light at the problems of FVA they argue that the sharp fall in market values of many financial instruments adversely affect the market price of these instruments. Additionally, they point out the challenges IASB is facing after the recent financial crisis. They state that the political threat to IASB‘s independence and credibility is continuously growing. Moreover, the headlines such as, Bank‘s accounting gets murkier (Wall Street Journal, November, 11, 2008). The third quarter reports of banks provide evidence that bank‘s accounting system get murkier e.g. The Royal Bank of Scotland is said to have avoided booking à ¢Ã¢â‚¬Å¡Ã‚ ¤1.4 billion of losses as a result of the rule change, and Deutsche Bank, Lloyds TSB and HSBC collectively are said to have avoided booking losses of â‚ ¬1.5 billion (Morley; 2008). SYSTEMATIC RISK-DEFINITION:- The banking regulations were introduced in the system to avoid systemic risk in the sector (Allen; 1995). The regulators of prudential law are fully aware of the danger that systemic risk can produce in the banking sector. Systemic risk is the risk that can breakdown an entire system (Acharya; 2002). Kaufman (2003) founded that there is high correlation between systemic risk and failure of banking system in a country, a number of countries or throughout the world. Sohnke. M (2005) defines systemic risk as The risk of a failure of the global banking system resulting from a failure of the global inter-bank payment system (Sohnke M; 2005). SYSTEMATIC RISK BANKING SYSTEM:- In the case of the banking industry, all banks are connecting to each other due to inter-banking transactions (Sohnke M; 2005). They have common deposits, loans, payment systems and other different indirect services to other financial institutions. Inter-banking system works within a country as well as across countries. Therefore, the adverse shock that effects on a bank in a system damages the entire system. Thus, the insolvency of one bank transforms the insolvencies of other banks in the system. The theory and evidence advocate that the danger of contagious systemic risk in the banking industry is faster and stronger as compare to any other industry (Kaufman Scott, 2003). Additionally, Kaufman (2003) suggests that the initial failure of a bank starts knock on reaction in the system. However, at the start of this shock, the other banks do not expect its transmission to them. Kaufman (2003) explains that if a bank has smaller capital to assets ratio, this means that the bank is highly leveraged. Therefore, this set of banks transfer their insolvency to other banks in a system (Khan; 2009). Moreover, Kaufman (2003) suggests that in banks, the downward trend in the credit market affects the quality of private and public information. This information also increases the uncertainty in the credit market and badly affects these market conditions. In such situations of uncertainty no participant wants to take risks. Therefore, investors quickly transfer their funds to a safer place (Kaufman Scott; 2003). Cifuentes, Ferrucci, and Shin (2005) argue that when assets and liabilities are reported on market to market basis and there are also external solvency requirements (e.g. prudential regulation), these situations lead to increase of risk in the financial system. They further argue that when the prices of assets are falling, these assets disrupt the solvency ratio of firms. Prudential regulations in banking system demand banks to maintain capital reserves for their solvency in estimation of risk associated with institutions (Khan; 2009). Plantin (2008) has observed that banks sell their assets when prices of assets were falling and purchased assets when prices were rising. Such acts of banks increased the volatility in market prices which increased the probability of rise in the systemic risk in banking sector. MARKET TO MARKET REPORTING FAIR VALUE ACCOUNTING:- Plannutin (2008) suggest that when markets are inactive, FVA becomes more inefficient as compare to historical based accounting (Plannutin G; 2008). As market to market accounting increases the probability of pro-cyclical trades that creates the illiquidity situation in markets. The logic behind is that when the market is illiquid for particular assets as compare to other assets which have active market, the sale of assets adversely affects the price of assets and firm for whom there is no seller or buyer ( Khan; 2008). Therefore, it can be argued that under the FVA reporting (which is based on market to market), prices of assets and liabilities further decline prices of assets and liabilities for which no markets exist. Further, in such situations of uncertainty, the management of these firms sell these assets at lower prices. In reaction to this, pro-cyclical trades starts which increase the overall risk especially in the banking sector. Therefore, we can understand that during the recent financial crisis, how the FVA is associated with the systemic risk of banking system? As the market for banking assets became illiquid during the financial crisis and sale of assets of other firms increased pressure on bank‘s management to sell their asset at lower prices (Pollock A 2008). JUSTIFICATION:- Why I have chosen the role fair value accounting in Barclays Bank Plc.? Being a student of MBA Banking and finance, this topic will give me a unique opportunity to cover both fields of my MBA in one research i.e Banking as well as Finance. Fair value accounting will help me to learn about the finance and financial crises while FVAs role in Barclays Bank Plc. will give me a chance to understand more about UK Banking system. This topic will also provide me empirical evidence about the role of fair value accounting in Barclays Bank Plc. I have a strong desire to built my career in Banking or Finance sector in future as those two fields are of my interest so definitely, this topic will be help me to achieve my future goals. It is also pertinent to mention here that three of my close friends working in Barclays Bank Plc. (two of them working in the same branch i.e.Norbury, london) which will give me an easy access to the data to complete my research methods/dissertation without any hurdles. HYPOTHESIS:- To make an assumption or prediction about any research is not an easy thing to do but on the basis of literature review, I can predict that the role of Fair Value Accounting (FVA) in Barclays Bank Plc. has a positive effect on UK Banking industry as (Nicolas; 2008) argues that Fair Value Accounting compelled Banks to record assets and liabilities on the value which is unjustified by economic conditions and it has played an important role in Barclays Bank Plc. success during credit crunch. I can also predict that the systematic risk is not associated with the financial crisis of Barclays Bank Plc. and by highlighting the impact of market to market reporting in financial difficulties for Barclays Bank Plc, It is assumed that its contribution for the banking industry was vital during financial crisis. RESEARCH METHODOLOGY:- Research methodology consists of two types of research. They are:- Primary Research. Secondary Research. PRIMARY RESEARCH:- Primary Research is research which is used to gather statistics for a precise task. Types of primary data collection methods include:- Personal Observation:  The observation of the respondent by a skilled observer or by electronic tools e.g camera, video. The aim is to observe customer response and activities to a product or consumer service. Personal Interviews:  Face to face interview between an interviewer and the respondent. ADVANTAGES OF PERSONAL INTERVIEWS:- In detail answers achievable. Qualitative statistics can be obtained from small sample. Observation improves precision. Understanding leads to less refusals. DISADVANTAGES OF PERSONAL INTERVIEWS:- Costs qualified Interviewer expensive. Interviewer bias. Difficult to get an appointment if the interviewer is a busy person. Invasion of privacy. FINDINGS ANALYSIS-PRIMARY RESEARCH:- SCOPE OF QUALITATIVE METHOD:- To collect the primary data for my qualitative analysis, Ill develop questionnaires to identify answers of the research questions in the dissertation. Ill follow (B Healey; 2005) approach who developed close ended questionnaires with check boxes to answer these questions. Gannon (2001) asserts that amongst all the other research techniques, the questionnaires have been given high priority due to negligible cost and scope for easy evaluation they offer. Close ended questionnaires are one of the most common used tools for getting opinions ( L H Wang; 2006). Further, it is an adequate way to get the opinion of experts from the relevant field of research that has good representation of practical experiences and expert knowledge. Underneath this logic, most of companies, Banks and government agencies use this method to collect information. LIMITATIONS OF QUALITATIVE METHOD: Gannon (2001) critics that the information gathered as the results of questionnaires are limited because mostly questions ask in questionnaire allow only positive or negative response. Additionally, it is pragmatic that sometime the respondents refuse to answer certain questions or giving their answers in hazel and even sometime do not read the questions (Sproull; 2001). Chambers and Pretty claim that in spite of problem with answering the questionnaires, it was considered that it is time consuming, expensive and not suitable for reaching at conclusion ( Marslan; 2001) . SECONDARY RESEARCH:- Secondary research is the most general research method engaged in the every field today. It involves dealing out facts figures that has already been collected by a different party. With this research, researchers will check with previous studies and findings such as reports, press articles and earlier market research projects in order to come to a conclusion. This has comparatively low cost in comparison to  primary research. TYPES OF SECONDARY RESEARCH:- There are different types of resources offered for secondary research. The most well-known are: Published statistics: survey, housing and social security statistics Published texts: abstract work, secondary analysis by  experts  and reports Media: documentaries as a source of information Personal documents: diaries ADVANTAGES:- Economical and reachable especially at University/College Library. Often the only source, for example historical documents Books. Only way to look at major trends. DISADVANTAGES:- Lack of stability of perception. Biases and inaccuracy can not be checked Available data often increase more questions than they answer. The worry over whether  any  statistics can be completely detached from the perspective of its gathering or not. FINDINGS AND ANALYSIS-SECONDARY RESEARCH:- SCOPE OF QUANTITATIVE METHOD:- Prior to 2004, UK firms and Barclays Bank Plc. were preparing their financial statements according to UK GAAP (Generally Accepted Accounting Principles). 2005 was the first year when International Accounting Standard Board (IASB) and UK Accounting Standard Board asked UK firms Banks including Barclays Bank Plc. to prepare and report their financial statements at IFRS. (Ormrod; 2007). Additionally, Gannon and Ashwal claim that more than hundred countries worldwide use International Accounting Standards on either a compulsory or on a permitted basis and more countries are expected to follow in the near future.(Ormrod; 2007). Ill consider year 2005 when Barclays Bank Plc. adopted IFRS as start of FVA regime. Henceforth, year 2005 to date, Ill take as my sample period for quantitative testing. Ill use secondary data sources to gather information for quantitative analysis eg Barclays website, Journals, Books. Ill collect the details of assets and liabilities which are reported at fair value of different banks from the web sites of these banks and then Ill compare them with Barclays Bank Plc. This study will provide me evidence that the difference between reporting assets and liabilities at fair value and book value on investment securities explains the share prices of insurance companies and banks as (Penman; 2007) described. LIMITATIONS OF QUANTITATIVE METHOD:- Mirosevich (2008) argues that most of quantitative methods are based on classical tests which produce correct results only when underlying assumptions are fulfilled. These tests produce incorrect P-values, effect sizes and confidence intervals when they violate the key assumptions to calculate P- values. Therefore, the evaluations of these results mislead the research objectivity (Mirosevich; 2008). The researchers observed that the assumptions made under quantitative methods to test hypotheses are mostly not correct in real life. Many factors are to be considered constant or assumed not affecting the dependent variables. Therefore, the results obtain from such tests are sometimes misleading the research goals (Mirosevich; 2008). RECOMMENDATIONS AND CONCLUSION:- The debate of costs and benefits of fair value will go on and the analyses conducted in this study are considered to be a new addition to literature which addresses important and complex issues of FVA in current debate of accounting usefulness. These issues require further investigative studies. The financial crisis has made clear that the financial statements organizers need additional guidance to calculate fair values in illiquid markets. Users of these financial reports need better disclosures of financial information especially at the critical level 3 inputs. The users of financial information are interested to analyse the sensitivity of fair value measurements and its influence on the Barclays Bank Plc. Accounting standard-setters need to consider the demands of interested parties and issue guidance and disclosures accordingly. Preparers need to provide these disclosures in an informative fashion, and users must analyze them carefully and dispassionately. Additionally, accounting researchers and teachers can contribute to all of these processes. Indeed, for all of us who care about accounting and its role in the economy, there is much work need to be done (G.Ryan; 2008). Further, I believe that more time and research is required to determine reality that whether FVA has played its role in failure of Barclays Bank Plc. or not? To understand the role of FVA seems vital for future developments and implementations of accounting standards in Barclays Bank Plc. Additionally, future studies of FVA will give new shape and directions to financial reporting framework. I hope that over next few years, most likely the conduct of lot of empirical studies will give us a distinct answer to the question about the role of FVA in Barclays Bank Plc. during financial crisis. The debate of FVA mainly revolves around the issues cost and benefit of reporting assets and liabilities at fair value and its role during financial crisis. The researchers such as Penman (2007) Simatupang

The failure to Prevent 9-11 :: essays research papers

Failue to Prevent 9/11   Ã‚  Ã‚  Ã‚  Ã‚  When a giant explosion ripped through Alfred P. Murrah federal building April 19,1995, killing 168 and wounding hundreds, the United States of America jumped to a conclusion we would all learn to regret. The initial response to the devastation was all focused of middle-eastern terrorists. â€Å"The West is under attack,†(Posner 89), reported the USA Today. Every news and television station had the latest expert on the middle east telling the nation that we were victims of jihad, holy war. It only took a few quick days to realize that we were wrong and the problem, the terrorist, was strictly domestic. But it was too late. The damage had been done. Because America jumped to conclusions then, America was later blind to see the impending attack of 9/11. The responsibility, however, is not to be placed on the America people. The public couldn’t stand to hear any talk of terrorism, so in turn the White House irresponsibly took a similar attitude. They con centrated on high public opinion and issues that were relevant to Americans everyday. The government didn’t want to deal with another public blunder like the one in Oklahoma City. A former FBI analyst recalls, â€Å"when I went to headquarters (Washington, D.C.) later that year no one was interested in hearing anything about Arab money connections unless it had something to do with funding domestic groups. We stumbled so badly on pinpointing the Middle East right off the bat on the Murrah bombing. No one wanted to get caught like that again,†(Posner 90). The result saw changes in the counter terrorism efforts; under funding, under manning, poor cooperation between agencies, half-hearted and incompetent agency official appointees and the list goes on. All of these decisions, made at the hands of the faint-hearted, opened the doors wide open, and practically begged for a terrorist attack. So who’s fault is it? The public’s for being 2 96304812 unaware, uninterested, and inadvertently the driving force behind American Democracy? No, of course not, that would be a completely ridiculous idea. In the events of September 11, 2001, the United States Government, by ignoring signs of a terrorist attack and continuous blunders in American intelligence, failed to accomplish one of their basic responsibilities as a governing body: keeping us safe.   Ã‚  Ã‚  Ã‚  Ã‚  September 4, 2001, just a week before the attack on the World Trade Centers. A teletype regarding known facts about a suspected Islamic extremist, Zacarias Moussaoui, was sent to the Central Intelligence Agency (CIA), the Federal Aviation Administration (FAA), the Customs Service, the State Department, the Immigration and Naturalization Services, and the Secret Service.

The Advantages of Keeping pets :: Pets Animals

Would you like to live a happy and productive life? Then get pets! I must admit it is hard to believe that domesticated animals can promote mental and physical health, but many studies have shown that they can. People who own pets have been known to lead longer and happier lives than those without them. As we get older, we become less active. The more inactive we become, the higher our risk of death. We therefore need something in our lives to keep us busy so we don’t die prematurely, and a pet is just the thing to do it. This is probably because of the companionship, exercise, and responsibility that they provide. On the other hand, you must find a pet that is compatible with you or with your life style. Maintaining good mental health is crucial for living a normal life. Many psychiatrists have found that patients with anger management problems can be calmer with a pet around the house. Sometimes, just the feel of a pet in the house can do wonders on the nerves and eliminate certain aggravation. A significant point that has been brought up by animal right activists is that abuse inflicted on animals is, in many cases caused by frustration caused by an outside conflict. Outside conflicts can be caused by work stress, school or relationships. Also, people need companionship to keep stress and mental anguish at bay. When people begin questioning why they are alone, they begin doubting their own self-worth. Then suicide becomes an issue. When a person becomes depressed, their body pays the price. A depressed person will neglect to care for themselves and will slowly deteriorate. Having a pet will give said person companionship. Just being able to have someone to come home and talk to or play with could be the difference between serenity and psychosis. In women, especially, is the extra comfort provided in just being able to care for someone. Apart from that, owning a pet forces one to take on the responsibility of keeping it alive. One’s pet must be fed, watered, and kept healthy. Doing this requires us to move about.

Call Report :: essays research papers

Bosch fuel tube report On August 9th, Bosch realized a failure of their fuel pump/filter unit for a new model fuel tank. In the past they used a  ½Ã¢â‚¬  gasket on the old fuel tank, when GM changed the design, this became a problem. There was no longer a  ½Ã¢â‚¬  gasket, thus causing problems for the pump to retract all the way to the top flange of the pump unit. The top flange has a rough grove on top where the fuel tube comes in contact. I was asked by Bosch to investigate a more durable abrasive sleeve then the one they currently using. Bosch uses a GPT-483 3/8† (131,843 cycles to failure) sleeve for their current application. By the use of SAE ARP 1536 test method, I was able to make a few recommendations on Sofanou sleeving products. The product line that I recommended is; Nu-Guard NTW-WR  ½Ã¢â‚¬  (1,163,483 cycles to failure), Nu-Guard DPT 3/8† nylon 6, 6 (new to Sofanou product line) (356,425 cycles to failure), and Nu-Guard N 3/8† (295,198 cycles to failure). On August 20th I met and brain-stormed with Bosch Engineers; Martin Kling (Engineering Manager), John Lennen (Engineering Unit Manager), Ralph Gordinier (Sr. Program Lead Engineer), Ted Perniciaro (Senior Engineer), Mike Zick (Engineer), Dave Toutant (Component Specialist), Dave Brown (Senior Test Engineer) and Rich Minix (Lead Technician) on developing a test that would reflect the current process problem. Similar to the ARP 1536 test method, we decided to use an aggressive saw blade for a tear test for the three different products. Entela Testing was in charge of this test project. On August 23rd, Andrew Gleason (Engineering 1) from Entela coordinated the testing and reported: Nu-Guard NTW-WR  ½Ã¢â‚¬  @ 2,200 cycles to fail, Nu-Guard DPT 3/8† nylon 6, 6 @ 750 cycles to fail, Nu-Guard and Nu-Guard N 3/8† @ 410 cycles to fail.

Analysis of “Pleasantville” Essay

The film ‘Pleasantville’ is about two modern teenagers, David and his sister Jennifer, somehow being transported into the television, ending up in Pleasantville – a 1950s black and white sitcoms. David knows that they have to act like the ‘real’ characters as he definitely knows the world well, but soon he realises that it is impossible – that change is inevitable, which is the main theme of the movie. The two characters from the modern world have the role of bringing ‘evil’ knowledge to the citizen of Pleasantville. They brought changes to the town, adding colours to it. Change is an important element in this film. It shows that change is inevitable by introducing two characters into a never-changing world. Both are uneasy when they arrive. However, Jennifer threatens to rebel and states that â€Å"no one is happy in a poodle skirt and sweater set†. The citizen of Pleasantville have only learned about the geography of two streets, the firemen have never seen a fire, and sex and double beds do not even exist. They live their lives according to their routines. â€Å"Where is my dinner?† Mr Parker asks when he is surprised that the dinner is not ready for in at quarter to six. Though, the curiosities of the people living in Pleasantville lead them to change. â€Å"What is outside Pleasantville?† some ask. The people of Pleasantville are no longer innocent, and they are ready to change. This is shown by the shifting of people from black and white to colour. The people can only gain colours when they break their barriers, discovering the missing element in their lives. Some gain colour from having sex, Mary-Sue gains colour from reading books and Bud gains colour from getting into a fight. Pleasantville is no longer Pleasantville. The basketball team starts missing shots, and colours can be seen everywhere. Bud is horrified when he sees the changes, but soon realises that it is hardly life when all people do is to follow the robotic routines. Not all people react pleasantly with the changes. A committee is set up to limit the use of colours, kinds of music and books, and shutting down Lover’s Lane. The film comments on censorship and the social discriminations  base on racial background. The plot of Pleasantville is relatively simple – two real people being sucked into an unreal world. However, it makes allusion to the real world, such as segregation and censorship. It also deliver its message successfully, that change is inevitable. The scenes where the black and white tree bursting into bright orange flame, and the Lover’s Lane as Eden, have strong visual impact on the audience, and allows the audience to re-evaluate our society.

The simultaneous leadership in social science

Understanding the range of drug habit and addiction in the world accepts knowing the prevalence among sundry(a) populations and interrogationing the legion(predicate) health and kind consequences. The united States is both the largest producer of drug research in the world and the worlds only drug-control superpower.The simultaneous leadership in social science and world timendum setting is not the result of a symbiotic relationship between Ameri batch research and policy making.During adolescence, friends and peers become further much influential than ahead, and intimate go out relationships become primary interests (Laursen & Williams, 1997).Along with these important developmental changes, however, come increased chances of pregnancy, sexually hereditary disease, and iniquity by and toward dating partners (Leaper & Anderson, 1997).As well, inebriant and drug use and hatred enters the picture, which whitethorn brook to the occurrence of the other risk behavio rs (Milgram, 1993 National Center on dependance and Substance Abuse, 1999). Although about of these developments ar harmless, in that location is a takeing awareness of the grandeur of education and prevention to increase teens individualized safety and responsibility.Not surprisingly, prominent juvenile risk behaviors are alcoholic beverage and drug abuse, severe sexual behavior, and dating violence-share many of the kindred contributing risk factors, although to important and differing degrees.These include problems related to the family, such as family departure and violence, unequal relationship attachment, primeval and intractable behavior problems, as well as peer and academic problems, such as school failure, peer rejection, and exposure to friendship violence. In addition to the above, teen pregnancy, early sexual dialogue, and risky sexual behaviors are associated with early onset of puberty, truancy, and delinquency (Kilpatrick, Acierno, Saunders, Resnick, & Best, 2000).In the absence seizure of compensatory factors, such as education and social competence, these varied risk factors can contribute to or become risk behaviors (e.g., alcohol use is associated with teen pregnancy and violence).Common ElementsA common family element found among teens who take in these richly risk behaviors is the come up of time spent without proper gravid involvement or supervision (Dishion, Capaldi, Spracklen, & Li, 2005).Not surprisingly, children who grow up in caring and supportive homes are more likely to suffer risky behaviors, spell children who have self-aggrandising up witnessing or experiencing alcohol abuse or violence in their homes, having poor family structure and insecure attachment-related experiences are more likely to be less kind to these same risky, unhealthy behaviors.A description of the age, gender, and ethnical identities of offspring who engage in high risk behavior is provided by the young person riskiness Behavior Surveillance, which tracks data regarding many health risk behaviors for adolescents in the join States.According to this data, black youth, for example, report significantly higher(prenominal) rates of sexual intercourse before age 13 than do Whites and Hispanics, while White youth report the highest levels of constrained sexual intercourse. Black youth too report less alcohol exercise at last sexual intercourse and higher condom use than do White and Hispanic youth.Not surprisingly, males report more alcohol use before the age of 13 than females, across all ethnic groups (YRBSS). However, these data on prevalence of self-reported adolescent risk behaviors is descriptive only, and tells little somewhat the contextual factors contributing to such risk.While feeling closer at some of the factors that may contribute to the mentioned risk behaviors, the one can see that alcohol use among teenagers stiff prevalent in todays society. A topic probability standard of 4,023 adolesc ents between the ages of 12 and 17 found that 15% of the sample used alcohol, 10% used marijuana, and 2% reported hard drug use in the past year (Kilpatrick et al. 2000).Although some alcohol consumption among adolescents is considered normative, there is abundant concern for the number of teens who are exhibiting signs of alcohol abuse or dependence with 7% of the above sample meeting symptomatic criteria for alcohol, marijuana, or hard drug abuse or dependence.Trends in alcohol use reported in the Youth Risk Behavior Survey indicate that sate boozing (five or more drinks on one occasion during the 30 years prior to the survey) has shown little variation everyplace the past several years, ranging from 31.3% in 1991 to 33.4% in 1997 to 31.5% in 1999 (Centers for Disease Control, 2000). Binge drinking continues to be a problem among youth and needs to be targeted specifically.

European Management

Generally, on that point ar two types of customers in the man and wife set tune. One of them is a mates who is getting engaged or getting matrimonial and therefore needs a wedding band to go it life-long the second type of customers is a due(p)t who shapes to change their wedding bands and get a red-hot one. 1. 1 Description of Values, Strategy, Mission & Vision, and Actual descent & In this part of our work we give you the verbal description of the comp some(prenominal) in the general meaning, as comfortably as its set, vision and bursting charge. Moreover, we analyze its actual usiness and counselling lay.Every society in the world should view as its protest protects. It means that companies argon guided by whatsoever principles and internal conducts. Moreover, all of the companies are connected to their customers, partners, shareholders, and and so on In order to attract or process those stakeholders companies usually state their vision and mission (Busin essDictionary, n. d. ). The values of the social club Rubin Alyans are gilt wedding bands and forbearance basketball hoops. Those products are very important for the ships keep company and withal for the buyers as they are the customers of the companys customers, the so- called end-users.Traditionally in many countries hook up with couples wear wedding bands to show or communicate to the world that they are married. The fact that the company value is also a multicultural sign decides any action and strategy. An different value of the company is there special packages as including nice presents for the couples. The strategy of this company is highly sensitive on the quality of the products because its products are nighly worn du frame in the day and night, 24 hours a day, 365 days a year. There is no other product that a person wears on him or her such a long time. The vision of the company is much to a greater extent competitive.They are lucky to be in a competition in w hich other companies compete with their price and not many of them have a strange and unpredictable vision. So the company would like to stay with their competitive advantages, increase them in the future. Their future vision is also to grow, therefore runner become a mid-sized and then a big-sized company in order to expand also more into foreign countries to increase the possibility of targeting new countries more easily due to financial terms. The company mission is to produce and sell wedding bands to the couples that they can wear lifelong without any complaints.The way to success in their business is to make the high quality wedding band with the elegance and simple design. The simplicity of the ring is important because for many people it is difficult to read the wedding ring which they would admire forever. Those who decide and buy the product know very well that the natural selection is very important. Besides all of the strategies and opposeeting plans, the most import ant function in Jewellery business is that the product has a change value as it is operating in the princely business. The accuracy that you mark inside the ring should be correct with the rings.Better to exempt by an example When you mark 14K in the ring the accuracy should be 585 which is the gram percentage of the gold in 1 kg. If it is less than the marked one, it has a serious penalty and besides everything mentioned, whatever we do we always have to be sure of the gold accuracy of ring. 1. 1. 2 Actual Business good example This company fills rather the criteria of an actual business model than of a traditional business model due to the following reasons. 2 The process of creating golden sound is based on market needs, so to reckon on the actual demands of customers.The customers demand for the rings and therefore, edding bands are developed, created, and at least produced. Hence, the demand for brand upper-case letter is high. We can see a customer-focus because they are those who decide how their final wedding ring will disembodied spirit like. The wedding rings are created according to the customers. To be aware of the need of customization in this business is a very important factor to be in(predicate) in the gold industry. It is also possible to hint that there is a high demand for gentle capital.