Antitrust Laws Coursework Example | Topics and Well Written Essays - 1000 words

Antitrust Laws - Coursework Example The price based competition results in exploitation of the customers whereas; they will not have cheaper products on their disposal. The process of research and development will become hindered as the monopolist does not need to develop new products because of the dying competition. Additionally, the term merger is used to define a contract in which two or more companies decide to construct a new one while, all of them become as one after the due process is complete. The acquisition on the other side involves a deal in which only one company loses its identity in order to become the part of another. In summary, one company buys another to become more prominent in the competition zone (Weber, Shenkar, & Raveh, 1996). Following section runs an analysis about effects of external environment on management’s decision making: - 1. Political Environment: - The political environment of the country encompasses the nature of government and stability of political atmosphere is also necessary for businesses to flourish (Boddewyn & Brewer, 1994). The national systems that are unstable do not offer good business environment. Additionally, the governmental policies radically change as well. In this kind of mechanism business management must resort on use of intensive risk management techniques. 2. Social Systems: - The social and cultural systems of the country govern the ways in which people relate to each other. The organizations need to blend in the system so that the customers and other stakeholders should consider them as their own (Dowling & Pfeffer, 1975). 3. Ethical Climate: - The organizations while operating in a specific national system require adapting to the cultural sense of right and wrong in order to avoid the possibility of committing a wrong just to repel all of the society (Payne & Raiborn, 1997). There is a significant difference in collective and individual cultures. The organizations have to

Decision in Paradise Essay Example | Topics and Well Written Essays - 1000 words

Decision in Paradise - Essay Example The company was establishing itself on an island located in south Pacific. My post at this very prestigious company is the senior business executive. I am the personal assistant to the company manager who is Alex. Chris, my other friend is the proprietor and the owner of Marvel Construction. My core responsibility as an executive is to unearth the problems at Kava and eradicate them so that the company can attain its goal and fulfill its mission on this most difficult island. However on my arrival at Kava, I realized that my dream did not exist. It was shattered. It was after all not the paradise I had thought it was. Kava is an incapacitated island country situated in the South Pacific. This island is experiencing very hard times and someone should rescue it soon. The island quickly needs reconstruction in many areas. Kava Island is aged 15 years and below. It is a culturally diverse island with a combination of people with 50% coming from indigenous tribes, French, Americans, Africans, and Spanish. The people of Kava are basically of indigenous belief. As a matter of, 50% of the people have an indigenous faith while the rest is a mixture of English, French and Spanish. The main economic activity is farming of spices, cocoa bananas and coffee. They also are involved in extraction of petroleum. Marvel Construction Company is one of the largest construction companies with an international reputation. The company has over 20 branches across the US. Since its establishment 20 years ago in Nevada, Marvel construction company has expansively grown through the setting up of new premises and expansion of the existing ones. Marvel is focused on creating loyalty and value with its clients through the provision of outstanding services, fine products and technology advancement. The mission of Marvel Construction Company to the people of Kava is to bring forth prosperity, and establish a

Emerging Trends In Recruitment Commerce Essay

Emerging Trends In Recruitment Commerce Essay Internet evolution is affecting our working and personal life in various aspects and no one can say the contrary. One of the areas that the internet has recently and strongly been involved in is Recruitment Selection, as a medium between job seekers and companies since global competition persists and industries becoming more skill intensive, the recruitment of talent workers becomes essential (Yoon, 2009 adapted from Tong and Sivanand, 2005), and attracting the right applicants at the right time is getting tougher than ever. The use of conventional recruitment methods no longer suffices and timely to attract sufficient pool of qualified applicants. Many organizations have turned to adopting sophisticated recruitment strategies or combining various recruitment methods to attract them such as the E-Recruitment. Since recruitment has become the most challenging human resources (HR) function across all industries today, the need of the hour is to shift from traditional reactive recruiting toward more proactive recruiting, by clearly understanding the various factors of the recruitment market (Parmesh, date). In early-1990s, with the advancement of internet technology, many have witnessed the transformation of the conventional recruitment methods to online recruitment. Some corporate companies even use their web sites to recruit people while others capitalized this change to become e-recruitment service providers. This latter third-party e-recruitment business thrived to become the second most popular online business besides booking airline tickets, in United States and Europe. This business trends was later caught up in South-east Asia and Asia Pacific (Yoon adapted from Labanyi, 2002; Galanaki, 2002; Fisher, 2001; Gomolski, 2000; Joyce, 2002; Dixon, 2000). (Adapted from Weiss and Barbeite (2001) focused on reactions to Internet-based job sites. They discovered that the Internet was evidently favoured as a source of finding jobs. An examination of the literature on the various aspect of e-recruitment will allow us some insight and better understanding. When doing literature research many studies focused mainly on the applicant side or only on corporate side; in this study we will investigate both aspect in order to have a broad understanding of e-recruitment development. Emerging trends in Recruitment Recruitment is now about customer relationship management. Applicants needs has changed and preferred an individual relationship with the employer. We talk about war for talent, and now the most advanced guerrilla fighters using the latest weapons. It is a zero sum game between your company and everyone else competing for similar talent. Up to 25% of existing e-Recruitment traders will be purchased or go out of business in the next 3 years (Gartner Q4 Report 2004 accessed on http://www.specht.com.au) Many companies are moving away of conventional recruitment methods. The new methods followed by companies are outsourcing, poaching/raiding and e-recruitment. Outsourcing Outsourcing is a process of transferring a business function to an external service provider. In recruitment out sourcing, a company completely transfers the selection process or part of it to a third party. The outsourcing enterprises assist the organisation by the preliminary screening of the applicants according to the requests of the organization and creating an appropriate pool of talent for the ultimate selection by the organization. Outsourcing firms extend their human resource group by employing people for them. These human resource pools will be made accessible to various companies as per their requirements. Poaching/Raiding Raiding or poaching is a method of recruitment in which competing firms attract employees from rival firms. In simple terms poaching may be described as buying talent rather than developing. Hefty pay packages, other terms and conditions may attract employees to join new Organizations. Poaching is a big challenge for human resource managers. Poaching weakens the Organizations competitive strength because of employees migration. E-Recruitment E-Recruitment is the latest trend in recruitment. It is also known as online recruitment. Internet is the back bone for E-Recruitment. Companies advertise job vacancies on different websites. Exclusive job websites like naukr.com, monster.com, etc help both job seekers and companies to contact each other. A 247 access to the database of the resumes to the employers is provided by these job sites which facilitate organizations to hire people more rapidly. Every Company website usually provides career hyper link. This link helps job seekers to upload resume in the website. Using the uploaded resumes Companies can build their own resume database, which can be used for existing and future requirements. Online recruitment helps the organizations to automate the process of recruitment, which allow saving on time and costs. Traditional way v/s E-way In recent years, the traditional approach to recruitment has been revolutionized by the concept of online recruitment. Although Internet recruiting will not replace traditional recruiting in the near future, it is quickly becoming an essential aid for todays recruiters. Online recruitment varies from conventional recruitment in many ways this has been stressed by some authors. In this area, some researchers have compared between internet recruitment tools and traditional recruitment tools. A survey which was carried out by Galanaki (2002) , found out that internet agencies provide the company with fewer but substantially better applicants than traditional recruitment agencies. On the same side, a research conducted by Verhoeven and Williams (2008) reports on a study into internet recruitment and selection in the United Kingdom and the survey showed dwindling recruitment spends focused on web-based recruitment at the expense of traditional methods. The author also reported that online methods proved far more popular, as majority firms use their own companys website was used as a recruitment tool for most jobs. Kapse et al (2012), a study conducted by Connerley, Carlson, Mecham (2003) on the evidence of differences in applicant pool quality addressed the research need by examining the attraction outcome of firms competing head-to-head for recruits for similar positions. Results of an analysis suggest that applicant quality can vary substantially within and across job families Chapman and Webster (2003) in their survey research on the use of technologies in recruiting, screening, and selection processes for job candidates conducted in USA found that most organizations implemented technology based recruitment and selection tools to improve efficiency, enable new assessment tools, reduce costs, standardize systems and expand the applicant pool. From the applicant opinion, (Maysara (2010) adapted from Rooy and Fairchild (2003) and Rozelle and Landis (2002)) contrasted between job searching by internet tools and traditional tools in terms of the number of jobs that were found and candidate perception of success in the job searching process. The jobs that were found by traditional recruitment tools were less in the number than the ones found by internet tools only. The results of this study encouraged the authors to argue that jobseekers that use this technological advance in their job search are in a good competitive position compared to their peers who do not use it. Diverging from the four previous studies results, Maysara (2010) adapted from Zusman and Landis (2002) found that job applicants reported high preference for the jobs posted in the traditional recruitment sources e.g. paper than the ones posted on the website. The result was not expected for the authors. In addition, and consistent with applicant attraction studies, they found that applicants prefer the high quality recruitment websites than the low quality websites. While comparing the traditional recruitment and the internet recruitment people sometimes finds that they are both almost alike in what they have to offer, however, as we can notice in Table 1, the process is different between the two. E-Recruitment Defining E-Recruitment E-recruitment is a means of using information technology (IT) to perform, speed up or improves this process. EHRM system and its subsystems, such as e-recruitment, produce a higher level of service delivery and a better strategic contribution. E-recruitment emerges as a handy and advantageous method over traditional methods of recruitment (Poorangi et al adapted from Tong and Sivanand, 2005), as it brings all benefits of an e-business into the human resource field and improves the efficiencies of the recruitment process. There are diverse meanings of electronic recruitment coined by well-known researchers. Commonly E-Recruitment is defined as: According to Wolfswinkel e-Recruiting is the online attraction and identification of potential employees using corporate or commercial recruiting websites, electronic advertisements on other websites, or an arbitrar combination of these channels including optional methods such as remote interviews and assessments, smart online search agents or interactive communication tools between recruiter and applicant. E-Recruitment also known as online recruitment, Internet recruiting or cyber-recruiting refers to the practice of advertising job vacancies online, also is the process of integration of the recruitment and internet technology to improve efficiency and effectiveness in hiring the new employers from all over the world (Galanki, 2002) E-recruitment Hiring Process The Hiring Process means carrying out a full series of functions in addition to simple recruitment. It means making a choice and deciding if the company feels that any of the candidates meet the requirements of the specific job and, if so, hiring that person. The next step is closing the deal and having the new employee join the company and fit in within the existing company culture. This means that once the companys hiring policies have been clearly defined, there is a process, which we call the Hiring Process that may be broken down into the theses stages as you can see in the following figure. Figure 1.3 illustrates the staffing processes involved in recruitment of staff and e-recruitment can be brought about in any or all of these main processes. Figure 1.2 E-Recruitment Hiring Process Source: Damhija 2012 Global E-recruitment market E-recruitment has been an issue of interest over the past ten years. Internet is considered as the latest tool in hiring. It is a real revolution spreading over the world of job hunting hiring. The term online recruitment, e-recruitment, cyber recruiting, or internet recruiting, imply the formal sourcing of job information online. The first references to e-recruitment appear in articles of the mid-1980s E-recruitment can be divided into two types of uses: corporate web site for recruitment and commercial jobs boards (such as monster.com) for posting job advertisements .Corporate websites are a companys own website with a link for job posting/career options where candidates can log into for current openings. If the company advertises its vacant positions on other website that specialize in recruitment such as naukri.com, timesjob.com, monster.com, etc., the companies would be adopting commercial job boards for recruitment. Development of E-Recruitment E-recruitment will expand but not replace the face to face selection stage smaller companies will be able to afford these technologies interactive, voice-based systems online portfolios including samples of your work testing tool. Methods of E-Recruitment Lievens Harris (2003) define E-recruitment as any method of persuading candidates to apply for a position that relies greatly on the Internet. We can say that Internet recruitment is not a method itself and therefore can be misunderstood sometimes since there are several of different approaches to Internet recruitment. Dhamija (2012) says that, in order to find active or passive candidates, e-recruitment has come up with valuable method for finding these potential candidates and moreover that there is high demand for e-recruitment tools and skilled workers as specified by The Society for Human Resource Management (SHRM) in a report entitled Workplace Trends during 2007-2008. For the purpose of this study, the focus will be given on two common methods of online recruitment which are being used nowadays. Corporate Website As said by Pin et al (2001), although jobseekers or those who are looking to switch jobs may think that the most logical path is to simply log their resume on a job site, knowing it will be distributed to a large number of companies in various industries, this is not the only option. Tyagi. A (2012) describe the use of a corporate website of the organization for posting a job as a link for career options where the potential candidates can log in for the existing opportunities therefore on companys own website, HR department has a choice of posting the vacancies freely and indicate the career path expected after joining the organisation. But she also pointed out that the corporate website attracts only the interested candidates towards it and for attracting other candidates, other channels should be used. According to Lievens Harris (2003) (adapted from Maher Silverman, 2002), company web sites correspond to one of the primary Internet-based method to employing. Several of these web sites as well offer useful information about the organization, in addition of a system for applying for these jobs. In 2001 a research by iLogos demonstrates that of the Worldwide 500 companies, 88% had a company Internet recruitment site, revealing an important surge from 1998, when only 29% of these companies had such a web site. Approximately all North American Global 500 companies (93%) have a business Internet recruitment site. Most applicants would consider a medium to large size company without a recruitment web site to be somewhat odd; certainly, one report indicated that of 62,000 hires at nine large companies, 16% were initiated at the company Internet recruitment site. Commercial job portals or Job boards Many companies have experienced excellent results through Internet recruiting on their own Web site. However, other firms also utilize employment Web sites by simply typing in key job criteria, skills, and experience and indicating their geographic location. They next click Search for Candidates and in seconds have a ranked list of rà ©sumà ©s from candidates that match the firms requirements. Fees vary from one employment Web site to another, and the number of sites has expanded dramatically in recent years. (http://www.prenhall.com/managementzone/mondyhrm8/mondyhrm8.pdf accessed on 27 August 2012, Chapter 6 Internet recruiting). According to Pin et al (2001) online job boards are recruitment networks that provide a meeting point for jobseekers and enterprises; hence a job platform acts as a middlemen, enabling job offers to be filled by most suitable candidates by segmenting information and providing real-time updated job offers to candidates. These e-recruitment platforms are normally free for jobseekers and chargeable to companies seeking to recruit, sometimes an annual fee and sometimes a charge per listing. These boards are good for attracting active and passive job seekers, particularly for less recognised companies but they can also be used as a supplement to the corporate site. Commercial job boards most common form of online recruiting. Job boards work like classified ads in the newspaper. These are global and allow a larger reach into the candidate pool. The job boards greatest strength is the total numbers of candidates registering resumes; the estimation is that they contain five million unique resumes (Gutmacher, 2000). Additionally, they allow recruiters to administer 24 hours a day, check candidates from around the world, and are commonly quite low-cost (Boehle, 2000). A key advantage of the job board approach for a company is that lots of individuals send resumes and that most job boards provide a search system so that recruiters can hunt for applicants with the appropriate skills and experience. A second benefit is that an organization can give extensive information, as well as a link to the companys web site for supplementary information on both i.e. the career path as well as the organizations. The committed recruitment websites can take a struct ure of job listing websites, which can be look like printed classified advertisements, work wanted sites, which accentuate the prospective employees side and finally online recruiters who make use of other websites as a resource for finding clients and customers (Rudich, 2000; Taylor,2001). Lievens Harris (2003) Social Networking Figure 19 below shows the ages of social networkers for Facebook, MySpace, Flickr and LinkedIn. It is interesting to note that from about ages of 24 to over 60, LinkedIn has the highest percentage of users. However its peak is between the ages of 25 and 34, after which it drops off (WebMediaBrands Inc. 2010). Figure : Percentage of social Networking users across all ages (Web Media Brands Inc 2010) Although social networking sites have seen tremendous growth in the past few years, according to Michigan State Universitys Recruiting Trends 2010-2011, the use of social media for recruiting is still limited to only 28% of the 4,600 employers surveyed, predominantly among larger employers. Benefits and Costs of E-recruitment In most relevant literature there are some commonly identified benefits and downsides for the companies using online recruitment. The commonly cited advantages and drawbacks of online recruitment in the literature are as follows: Benefits of E-recruitment Reduced Costs According to Marr (2007) with the print advertising, the size of the advert and the publication itself impacts on the fee of the posting the advertisement whereas with internet advertising even with a small cost associated to it is relatively cheap compared to the potentially unlimited audience of this medium whereas Galanaki (2002) argue that the cost saving depends on the e-mailing approach adopted; Faster Processes As said by Galanaki (2002) adapted from Workforce 2000a, online recruitment shortened the recruiting cycle maximising HR time for strategic issues. Barber (2006) also emphasis on the fact that e-recruitment speed up the recruitment process, with instant posting of job online, processing the applications within minutes rather than weeks and response can be quick and direct. Wider range of applicants Barber (2006) stressed on the fact that this mean can be access 24 hours a day, 7 days per week; reaching a global applicant group in contrast to ad on national newspaper. Reputation and Brand With increased competitiveness in the market and the fear of remaining behind makes many human resource managers to hire through the net. Particularly associated with corporate website, internet recruitment is considered to attribute an image of innovation and flexibility and it also operate as a promoting tool. (Barber 2006; Galanaki 2002) Attract passive job seekers Internet recruitment can be used as an instrument to attract the most highly prized catch who are not necessarily looking for a job. Addressing specific labour market niches Internet is also perceived to be a technique to deal with particular labour market niches during the posting vacancies on websites for particular interest clusters, on electronic forums or discussions groups and this can boost the targeting potential of the medium ( Galanaki, 2002). But Marr (2007) argue that the drawback of this approach is that there is a possible issue for firms with regards to unfairness and equal opportunity employment. Costs of E-Recruitment Online recruitment offers tangible business benefits therefore as with all recruitment sources, there are not only exclusive benefits associated to the means but there are also a certain number of existing challenges faced by organisations, particularly in such a mechanised process,. An outline of the common disadvantages associated to e-recruitment will now be presented according to (Marr, 2007; Barber, 2006). High quantity of application When a high amount of applications is received, firms can be confronted to a number of real challenges. The negative outcomes of it can be the rising costs in administering recruitment and selection systems. An increase in the number of applications means that more time should be spent in screening the Cvs since filtering out unsuitable candidate is very resource intensive. Logistical problems With online recruitment the best-qualified candidates can live halfway around the world and in such a case, conducting screening interviews by telephone or email have to be considered which limits the expense of a personal meeting. If the process progress forward, it causes the problem of whether it has great significance of bringing the person in for an interview. The valuable time and possibly money will be wasted if it turns out the candidate wasnt serious about relocating. Technology issues When recruitment process requires filling out an application, to miss out qualified candidates who would rather send a resume can be possible. Some candidates may not feel confident enough with the security of applying online. Theres always the likelihood that the application system may function slowly or lose information during the submission process. Poor website In several circumstances, candidates who notice job posting will be relying on the website to get further information about the company and method of operation. If website is badly designed or outdated, the candidate may not even bother to reply. Theres also the risk that the site have inappropriate information concerning the candidates field. Too impersonal It can be perceived as quite impersonal since much of the online recruiting process might implicate emails and probably telephone interviews. When lacking multiple in-person interviews, it can be complicated to determine if candidates will align with the company culture. Candidates may also have a hard time estimating whether the company is the right place for them. Perception of Jobseeker The Internet and the Web have revolutionized the way people communicate. This revolution has not only had a radical change on ways of doing business, but also created new business models that did not exist in the past. The range of Internet applications grew fast due to emerging technologies and competitive business pressures. Since 1995, the Internet has witnessed a rapid development of innovative applications. Among these applications are online recruitment, which was adopted by many users worldwide due to the high potentials it brings to both job seekers and employers Azab (2005). Job seekers use third-party recruitment websites or electronic recruitment services to gather job information and post their resumes using Internet technology (Bartram, 2000; Scheyer McCarter, 1998). Third-party recruitment websites offering Internet-based recruitment services (hereafter job-search websites) provide media for connecting employers and job seekers. According to a study from the write pass journal (2011) which was carried out to discover the advantages of using online recruitment, and techniques in which it could be enhanced, at a leading UK technology firm; it seek to assess factors which influence jobseekers choice when submitting their application to a specific business by means of their corporate website. Moreover it argues that there are various factors affecting this choice such as: the accessibility of an open job opportunity, the corporate website lay out, web presence of the firm through adverts, blogs or web postings, relevant information available about organization and position on the companys website, the corporate branding of the organization, Previous knowledge of company and its operation, the availability of information on online job boards, participation in events such as career fairs, word of mouth from friends and employees, the easiness for application, online tests, feedback and recruitment process. In the Table below we can see what are the benefits and problems related to online recruitment from the perspective of Job seekers. Table 1: Common benefits and drawbacks of Internet recruitment for jobseekers Advantages Disadvantages Mauritius Case Study Mauritius has one of the highest standards of living in Africa. Strong emphasis is being placed on information and communication technology (ICT) as an important engine of economic growth in Mauritius. The National Broadband Policy 2012 2020 sets out a strategic vision for a broadband Intelligent Mauritius, branded as Towards i-Mauritius. Over one-fifth of Mauritians have are making use of broadband; the adoption is likely to maintain its growth, across diverse demographic clusters and age clusters. Internet access and usage Figures from the Statistics Mauritius further point out that in both 2010 and 2008 the use of computer and internet was highest among the young age groups and lowest among the higher age groups. Thus, in 2010, 85.2% of persons aged 12 to 19 were using a computer and 58.3% the internet, and 61.6% of persons aged 20 to 29 were using a computer and 50.7% the internet. Among those aged 50 to 59 years, 23.6% and 17.6% were using a computer and the internet respectively. According to AHRP magazine 2010 HR pros said that traditional networking and social networking are the most effective ways for professionals to find jobs, as indicated by a survey recently conducted by challenger, gray Christmas. Methods of recruitment in Mauritius In recent years, recruiting services have developed intensively in Mauritius. More and more mediators for employers and candidates are being formed. And currently, all recruitment agencies in Mauritius have online services which allow both employers and candidates to register themselves there. The addresses to be make use of for recruitment services are DCDM Recruitment rebranded as Talentaris which has its own online job portal named G3RS.com, Adecco which has merged with Service Bureau and Maujob recently and Appavoo Professional Recruitment, for the online service supported by an adviser as explained above, or myjob.mu, jobsite.mu which operates only online. They have the benefit of being efficient and specialized. However in Mauritius, the most commonly used means of communicating information are the newspapers. Thus most employers exploit the press to advertise vacancies. And the response rate for checking the press to find job is quite high because the Mauritian population is very attached to the national press. Yet LExpress can also be accessed online at the website of the company. Furthermore there are some radio stations that frequently run announcement for employment. Private radio stations such as Radio One and Radio Plus often announce any job offer in the midst of any emission. Private radio stations have high ratings and with this method, the results are very successful and fast. Emerging techniques of upcoming job offer Publications of job either in audio or on posters can be done through advertising agencies. The multinational Accenture is often called to encourage applications. When designed by advertising agencies, they have the benefit of the position value and attract the attention of the reader. Their effectiveness is proven through the actual response rate achieved by employers. Ads may also be webcast on the most visited websites, for example, the homepage of Orange Mauritius, Facebook, etc. Rates vary depending on site and some may even be free, like Facebook. There is a mailing service very fashionable offered by RKcom, but highly not recommended as their service is considered as SPAM and their mail outs usually targeted inappropriate recipients and the mailing service is not free. Other successful techniques To find a qualified staff, it is possible to go through the administration of tertiary institutions or training centers. The most famous being University of Mauritius, Charles Telfair Institute, the Centre for Graduate Studies, or Mauritius IVTB Employees Federation. The Ministry of Labour, through the database of Labour Office which register the unemployed people it help the later to find a suitable position. Employers often communicate their vacant jobs through the database facility offered by Labour Office. At the request of the employer, Labour Office can send the list of candidates seeking employment, by level of education. And in addition, word of mouth is a fairly common in Mauritius. The island is not so big and everyone knows each other. Communications are easily and quickly concluded (Senek 2012). Study One Within the study one, emphasis will be given on two components of the organisational perspective that is, firms that use their corporate website to attract applicants and an online job board which operates in Mauritius. This will give an insight of what are the advantages and disadvantages of shifting to online recruitment. What are the changes alongside with this move in their practices and strategies? Study Two Study two will examine the e-recruitment from the perspective of jobseekers in Mauritius. To investigate the various aspects that drive those to use online recruitment and analysing the benefits and problems related to their use of internet in their job search. Additionally this study will seek to test the following hypothesis: There is a relationship between privacy problems and intention to use online recruitment Research Type For the study one since only a little information is available on e-recruitment practices in Mauritian firms, thus qualitative data on e-recruitment development is more useful and important than quantitative data. Qualitative research will help to be explorative and classify, categorize or define the phenomena of E-recruitment in Mauritius in an organisational perspective. Consequently the most suitable methods that will be used will be interviews. For the study Two given that we have sufficient information and knowledge which is available on the use of e-recruitment for job search from the perspective of jobseekers and that we will seek to prove hypothesis and support, questionnaires will be suitable for collecting quantitative data that can be used in confirmatory studies using statistical analysis. Data type Primary Data For the purpose of this research, data has been collected from first-hand-experience which is known as primary data and this will include interview and survey questionnaire. Those primary data has not been published yet and is more reliable, authentic and objective. Since my primary data has not been changed or altered by human beings, therefore its validity is greater than secondary data. Using primary data in research from participants representatives of key players in e-recruitment, can improves the validity of research. First hand information obtained from a sample that is representative of the target population will yield data that will be valid for the entire targe

Mica and men review :: essays research papers

Of Mice and Men Review Of mice and men was such a great movie it was shocking that it didn’t receive any Academy Awards. Gary Sinise made a heart effecting very well done adaptation on Steinbeck’s classic novel. It is set in the great depression, where men travel around trying to get any work they can. It is based around two characters George (Gary Sinise) and Lennie (John Malkovich). Both characters care for each other deeply and take care of one another. Lennie has a mental disability but is very strong, whereas George is very intelligent and cunning and he does the thinking for both of them, while Lennie does a lot of the work. Both Lennie and George find themselves working on a ranch during harvest season with a variety of other quaint characters. The foreman of this ranch is named Curley and Curley’s unnamed wife who plays an important role. The life of these two men is held up by a dream of one day owning their own piece of land. Candy(Ray Waltson) is an old cripple and old ranch hand, he finds out about George and Lennie’s plan to buy land he wants to buy into it. Crook's is another character, a black labourer that is left lonely because he is excluded, and Slim who is a labourer who the others tend to look up to. Curley’s wife likes to show off the fact that she’s good looking and in turn, tends to get people into trouble. Sherilyn Finn quite convincingly plays the character of Curley’s wife. Unfortunately Curley’s wife can’t find anyone to pay attention to her leaving her lonely the same way some of the other characters feel. The film has some very strong acting throughout the film. The acting was led by the always wonderful John Malkovich as Lennie.

Red Hunting Hat Essay

What does symbolism add to a book? It adds morals and depth to the novel. It makes the reader learn something interesting or lets them gain knowledge of something that can change their outlook on how they perceive things. In the novel Catcher in the Rye, by J. D. Salinger, it is about a perplexed boy, Holden Caulfield. He has trouble dealing the issue of growing up. One of the major symbols in the book is Holden’s red hunting hat. Salinger uses the hat to signify Holden’s need for comfort and his adolescent problems and pressures. To begin, when reading the novel one seems to come upon Holden‘s red hunting hat many times while reading. This hunting hat demonstrates Holden’s need for safety and comfort. He was deprived of it when he was a child; for nobody ever asked him how he felt about his younger brother death and his moving to different schools. The assurance one object can create is immense and that’s exactly what it did for Holden. Holden decides to leave Pencey early and heads to New York City. In cab he puts on his hat and says â€Å"I’d put on my red hunting hat when I was in the cab, just for the hell of it, but I took it off before I checked in† (61). This quote illustrates how Holden feels the need to wear the hat in order to feel safe. He was out in New York City with nowhere to turn too and he had no place to go where he would feel welcomed. The hat seemed to give him a sense of ease, but with that comfort there is a price to pay because he also felt insecure about how people will perceive him while wearing the hat. the red hunting hat is Holden’s desire to be unique and keep his individuality. Not many people will walk down the street wearing a red hunting hat, especially the way Holden wears it. Holden always wore the hat a certain way. â€Å"I put my red hunting hat on, and turned the peak around to the back, the way I like it†¦ † (52). Holden always put his hat on this way, showing he is clearly different from the world. Usually when Holden is wearing his hat he tends to reject people, or has just previously rejected them. Subsequently, the hat also gives Holden insecurity that seems to cause him pressures that one usually obtains during teenage years. But at time his pressure seemed to be a little extreme. My ears were nice and warm, though. That hat I bought had earlaps in it, and I put them on – I don’t give a damn how I looked. Nobody was around anyway. Everybody was in the sack† (53). This quote exemplifies how Holden tends to take his image to seriously. Yet throughout the novel Holden says that people that are obsessed with their look are phony, showing the reader that at time he is a hypocrite considering he’s obsessed with his look also. Not only does this happen once or twice but numerous times in the book. The quote tries to explain that Holden does not care what people think about him and yet if he did not he would not have announced that everyone was sleeping and nobody could see him. When Stradlater gets home from his date with Jane Gallagher, he and Holden get in a fight. When it is over, both Holden and Stradlater are left in physical pain. â€Å"I kept sitting there on the floor till I heard old Stradlater close the door and go down the corridor to the can, then I got up. I couldn’t find my goddam hunting hat anywhere. Finally I found it†¦ I put it on, and turned the old peak around to the back, the way I liked it† (45). The fight that Holden has with Stradlater is about Stradlater going out on a date with Holden’s friend Jane Gallagher. Holden gets upset with Stradlater for doing that because he thinks that Stradlater will cause Jane to lose her innocence. After Holden puts his hat on he stops thinking about Jane’s innocence and about his face, a more rational, less emotional subject. This also verifies a very apparent fact Holden seems to not be able up make up his mind on great number of things He seems to find himself in a confused mess.

Mr. Jax Fashions

Mr.. Ajax is a professional/career woman's dresses and suits designer and manufacturer in Canada during late ass's. The Mr.. Ajax business level strategy is product design and quality. How did they do it? The following is a list of Distinctive Competencies that put Mr.. Ajax in the lead of professional/career woman's fashion Mr.. Ajax hired Louis Seaman who was a well-known women's fashion executive. At the time Mr.. Ajax didn't focus on professional/career woman's dresses and suits and Louis Seaman shifted the focus of the company into the professional/career woman's market segment.Quality of materials used. Mr.. Ajax purchased West Coast Woolen Mills Ltd. This acquisition, although it took time to be profitable, enabled Mr.. Ajax to take control of fabric production scheduling, design, and quality. At the time of market saturation in Canada most competitors used materials that were sub-par for the market segment. The quality and craftsmanship of the garments Mr.. Ajax made were see n as high quality garments produced from high quality materials.The majority of the competition at the time was producing garments off-shore (in Asian) which lead to finished products which could be seen as inferior to those companies that produced finished product only using North American materials and production lines. Mr.. Ajax had also developed a reputation when it came to delivery of goods. Mr.. Ajax had seen delivery rates as high as 90% for (time and orders fulfilled), compared to the industry average of 75%. Mr..Ajax financial reports (see chart below for fiscal years 1981 to 1988) show that there was steady growth in the business but the market has reached a saturation point as seen by the net profit line. (revenue, COGS, Gross Margin, Expenses, Net Profit). Porters Five Forces: Threat of New Entrants: High. Entry into the market can easily be done by any firms, rage or small, with very little startup costs to do so. Threat of Substitutes: High. In order to stay ahead of the threat of substitutes Mr.. Ajax needs, and has, stayed ahead of the competition by keeping tabs on what is happening in the European fashion industry.Bargaining Power of Buyers is high. Distributes have the power, and authority, to turn away deliveries for a number of reasons – lack of quality, outdated styles, breach of contractual obligations, etc. Mr.. Ajax needs to keep up the standards they have set with their buyers. Bargaining Power of Suppliers is low. Since Mr.. Ajax currently manufactures the trials they use (30 to 40 percent) to make professional/career woman's dresses and suits they have the option to negotiate with the other suppliers, current or new, for better prices.The Free Trade Agreement (FAT) also makes it easier for Mr.. Ajax to purchase textiles from other North American firms as they can take advantage of lowered or removed tariffs. Seaman has studied two alternatives approaches for entering the U. S. Market: 1 . Establishing a retailing chain, or 2 . A U. S. Based wholesale distribution subsidiary (regional or national) Given the amount of competition in the U. S. Establishing a retail chain would not be in the organization's best interest (even though this is the option with the highest rewards).I would suggest to Seaman that he move Mr.. Ajax into the U. S. Via a Regional Distribution Subsidiary, and the reasons for doing so are: Enough cash has been raised to support this entry move into the U. S. Without having to undertake drastic measures. Example: selling off less profitable companies (Surrey Classics or Olympic Pant and Sportswear) to raise more capital for a National Distribution Subsidiary Management for a National Distribution Subsidiary can be developed as the Regional Distribution Subsidiary grows. This will give Mr..Ajax time to see if the entry into the U. S. Is successful, and if so, what is needed to move forward. A Regional Distribution Subsidiary would allow Mr.. Ajax to develop distribution channels in the U. S. , which would be needed for a National Distribution Subsidiary. Also, a Regional Distribution Subsidiary would allow the consumers in the newly entered market to see the high quality, up to date fashions, and quality of goods. This will allow the consumers in the market segment to become acquainted with the new Canadian product.

Different Suffixes for Different Contexts

Different Suffixes for Different Contexts Different Suffixes for Different Contexts Different Suffixes for Different Contexts By Mark Nichol Many words derived from Latin have two (and occasionally three or more) possible plural forms. The distinction is usually between popular usage based on English plural endings grafted onto Latin terms and scientific or technical form based on a traditional reading of the original language. Here are discussions of alternatives for plural forms of six types of word endings. -as or -ae Antennas are devices for carrying radio signals; antennae are sensory organs attached to the heads of certain creatures. Formulas might be used in a comparison of beverage mixtures for infants (and for other popular usage and even business contexts), while formulae is the formal term for mathematical or scientific expressions. -eaus or -eaux French words borrowed into English that end in -eau usually take the English plural form -s. The form ending in -x is likely to be seen as pedantic unless it is clearly used in a mocking sense (as when a writer facetiously sympathizes with a billionaire who has felt compelled to sell one of several chateaux.) -exes/-ixes or -ices Words ending in -ex or -ix (appendix, index, matrix, vertex) are generally followed by the plural form -es in all but the most technical contexts, though in scholarly publishing, appendices is the norm to refer to two or more pieces of additional text following the main section of a book. -mas or -mata Few words derived from Greek that end in -ma are in general usage, at least in plural form. (Anathema, for example, is common in singular form but not in plural form.) Dogma and schema, however, take an -s plural ending in popular usage; -mata is the formal alternative. -ums or -a Words ending in -um sometimes take an -s as a plural ending in popular usage and -ia in scientific or technical contexts consortium, criterion, forum, spectrum, and symposium come to mind but several notable exceptions exist: Mediums applies informally to multiple objects such as garments labeled as medium size, or to two or more spiritualists, while forms of communication are almost invariably referred to as media; that form is also prevalent in digital technology. (In relatively obscure scientific contexts, media is the singular form, and mediae is the plural form.) Memoranda and millennia are the preferred plural forms even in popular usage. Phenomena is prevalent over phenomenons, but the latter form (or the truncation phenoms) might be used as slang to refer to more than one particularly talented person. us- or -i The singular form of octopus is used to refer collectively to specimens used as food. (â€Å"The main course was sautà ©ed octopus.†) Octopuses is the most sensible plural form in general; octopi is incorrect because octopus is from Greek, not Latin, and -i is a Latin plural suffix, but the Greek form, octopodes, employing the Greek plural suffix -odes, is rare. The same is true, generally, of the plural form of platypuses, though the singular form frequently does double duty. Cactus, however, is Latin (albeit botanical, rather than classical, Latin), not Greek. Cacti is the prevalent plural form, though cactus and cactuses are also common. Other words ending in -us vary in their plural form: focus, fungus, and radius become, depending on formality, focuses, funguses, and radiuses or foci, fungi, and radii, while corpus and genus take an -era ending (corpera, genera) in scientific contexts. The only correct plural form for census and prospectus is the English plural ending -es (and campi is a rare plural form for campus), but alumnus becomes alumni; alumnuses is incorrect. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Spelling category, check our popular posts, or choose a related post below:Direct and Indirect ObjectsThe Six Spellings of "Long E"Supervise vs. Monitor

Compare and Contrast the East Asian and Argentine Crisis Essays

Compare and Contrast the East Asian and Argentine Crisis Essays Compare and Contrast the East Asian and Argentine Crisis Essay Compare and Contrast the East Asian and Argentine Crisis Essay What lessons can be learnt? â€Å"A financial crisis is â€Å"a situation where the supply of money is outpaced for the demand of money† (buisnessdictionary. com). It is necessary to first distinguish the three principal types of crisis which can be experienced individually or as a result of each other. The first type of crisis could be a banking crisis wherein people lose confidence in their banking system and systematically withdraw all of their savings.The second is an exchange rate crisis where inhabitants become worried about the strength of their currency and exchange it – in the context of this essay, into dollars. Thirdly is an external debt crisis which commences from an increase in foreign debt and no more loans are provided to a country as there is some perceived doubt that they will not be able to guarantee investment. The East Asian crisis is particularly astounding as it attacked some of the fastest growing economies.After such rapid growth in capital oft en described as the â€Å"Asian Miracle† how did a crisis in East Asia occur when the region had so much promise? The miracle that had occurred created a region rife with over investment and the success of the economies was taken for granted. Primarily, signs of the crisis started to emerge in Thailand with the collapse of their currency – the â€Å"baht† and it then became pegged to the US dollar. The crisis is now at an end but mainly due to the errors of the International Monetary Fund (IMF), it could take years for these countries to get back to their previous economic conditions. †¦ IMF policies not only exacerbated the downturn but were partially responsible for the onset†¦Ã¢â‚¬  (Stiglitz 2002, pp 89) East Asia didn’t actually need any additional capital that they were pressured into receiving. South Korea for example was a region that had experienced admirable growth but realised the necessity for some deregulation or liberalisation. Th e US treasury believed the system of liberalisation implemented by South Korea was too slow and the treasury made the decision to speed up liberalisation for maximum profit making opportunities. The main cause of this crisis was extreme capital market and financial iberalisation pushed on East Asian regions by the IMF. South East Asian countries did not fully comprehend the policies in place so this also had a role in worsening the crisis. The IMF made the serious mistake of not researching the countries in which they were trying to help so policies implemented were generic and not specific. Eventually however, the World Bank was persuaded to do some research on the region of East Asia which was named â€Å"The East Asian Miracle† wherein East Asia saved and invested wisely and did not follow any advice of the Washington Consensus. However, the IMFand Treasury made their most profound mistakes in their initial response to the crisis† (Stiglitz, 2002, pp 104). The IMF ba dly diagnosed the problems in East Asia and understood the issues as being far more severe than they actually were. It can be debated that a further root of the East Asian Crisis was a weakness in the financial system and irresponsible lending. This risky lending is also known as â€Å"moral hazard† meaning loans were provided by banks knowing that little of their own money was being put at risk.Therefore, financial institutions had no incentive to reduce this risky lending as they did not have to face the consequences. The value of the floating currency fell and was no longer pegged to the US dollar. To a large extent, financial institutions became weak through foreign exchange risks. Economies such as Korea started to reluctantly permit their companies to borrow money from abroad. Suddenly these institutions that had been so willing to lend money originally were demanding repayment but unfortunately these developing countries did not have the reserves available to pay such liabilities.Speculative attackers also impacted the contagion and took advantage of the situation by trying to devalue the currency in order to make monetary gains. Government tried to fend off these attacks by buying up local currency until no reserves remained. Meaning the local currency eventually becomes devalued. Speculators make a profit by converting their money at the right point so that there were more â€Å"baht† to every dollar. The IMF responded as always and provided countries affected with large bail-outs in order to level out the exchange rate. The money was in reality used to pay back some of the loans aken out from the Western world. â€Å"It was thus, in part, a bailout to the international banks as much as it was a bailout to the country; the lenders did not have to face the full consequences of having made bad loans† (Stiglitz, 2002, pp95). The IMF added to the crisis by imposing a higher interest rate and strict monetary and fiscal polices in an ai m to attract investors. In reality, many companies were highly leveraged and were at risk of failure with fluctuating interest rates. Inevitably, this higher interest rate resulted in many bankruptcies and put the region into deeper recession.The higher inflation rate even forced capital out of the country! These IMF policies not only had negative effects in one country but brought down its neighbouring countries too. As one country reduced its imports from local countries contagion was enabled to spread also known as the â€Å"Beggar thy neighbour† policy. This is where the term â€Å"contagion† became more widely used to explain the rush of financial stability through East Asia. The contagion was exported to neighbours through increased Globalization which opens up barriers and in this case, created vulnerability.These countries were asked to cut their trade deficit and increase trade surplus by increasing exports or reducing imports. Reducing imports was the only vi able option so this went ahead and sparked a worldwide recession. The downturn was again being spread to neighbour countries and slow economic growth created a slump in commodity prices. As the crisis deepened the IMF proposed a need for â€Å"Restructuring† which was a priority but, as with all the other IMF policies, it merely succeeded in worsening the crisis. The East Asian crisis is now at an end and most Asian countries have become strong again.However, crucial mistakes were made by the IMF and the East Asian regions consequently took longer to recover. The second crisis I shall be analysing is that of Argentina which was viewed as one of the great countries in the Latin American continent until the late 1980’s when macro economic factors caused the strong economy to collapse. The events which occurred during this time were triggers of the crisis that began in 1997. Excessive Government spending during this period meant too much money was being printed as levels of inflation reached 5000% so Government corruption played a large role in over-spending.The Washington Consensus was then followed in an effort to restructure the economy. The Government then made the decision to peg the Argentine Peso to that of the US dollar hoping this would improve confidence and prevent hyperinflation. â€Å"At the time, the strategy worked, but in time Argentina suffered the disadvantages of such a fixed peg† (news. bbc. co. uk). Argentina had adopted a currency with an exchange rate which displayed little in common with their economy. Effectively, Argentina had given away any control they had had over their monetary policies.The interest rate could not be altered and the exchange rate wouldn’t be perceived as competitive. Furthermore, overspending on behalf of the Government and a pegged exchange rate meant Argentina was neither attractive nor competitive to investors. The next big thing to have an effect on the Argentine economy was known as t he â€Å"Tequila crisis† which occurred in Mexico with the collapse of their currency and resulted in making Argentina’s exports very expensive in comparison with its neighbours. The result of course was bankruptcies. The IMF gave funds to Argentina and growth did start to recover for a minimal period.However, this fund could not alter the fact that Argentine export levels continued to drop due to lack of competitiveness. Following this blow, came the devaluation of Brazil’s currency which naturally had further damaging effect on Argentine exports. Argentina’s neighbours benefited from a floating exchange rate meaning that the value of their currency depended upon market conditions. Argentina’s exchange rate was unfortunately pegged to the US dollar. â€Å"Moreover, as the peso was pegged to the dollar, it was overvalued when compared to its neighbours in the region making Argentina’s exports uncompetitive in world markets† (jstor. rg ). Consequently a large trade deficit arose hand in hand with increased unemployment. Further loans in dollars were taken out by Argentina at this point which just increased the high foreign debt burden they already held. Many companies had to be privatised which resulted in higher priced products and services therefore dampening product demand. Privatisation was not necessarily a bad strategy but in the short term did start a recession. Argentina had been left virtually powerless so altering fiscal policy was the only method that could be taken to better the situation.The Government continued to spend excessive proportions during this time and the continual increase in foreign liabilities meant the level of debt was spiralling out or control. The IMF pushed forward a contractionary fiscal policy, the same that was encouraged in East Asia. Argentina implemented a â€Å"convertibility law† stating that everybody had the right to exchange pesos in return for dollars. â€Å"To give credibility to that promise, the government provided that each peso in circulation would have to be backed by a dollar†¦Ã¢â‚¬  (jstor. rg). When pesos were being turned into dollars the supply of money at the central bank plummeted and yet again interest rates soared. This strategy had come to the end of its course as frequent inputs of cash did not bring the economy up to its former glory. â€Å"†¦With the overvalued exchange rate holding down its exports, it became evident that Argentina was headed into a debt trap† (fpif. org). As the exchange rate in Argentina was fixed at so high a level, the countries imports and export levels didn’t balance.The foreign debt exacerbated by taking out loans in dollars was even more so on the increase and it became necessary to devalue the peso in an aim to increase exports making Argentina attractive again. In the short term, currency devaluation provoked a surge of bankruptcies as the majority of loans had been ta ken out in dollars and became more difficult to repay when the value of the peso was weakened. â€Å"As the debt grew, the interest rate that Argentina had to pay foreign creditors also rose, further increasing the annual imbalance and accelerating growth of foreign debt†( jstor. rg). By increasing levels of foreign debt, Argentina was opening itself up and showing vulnerability to the evident risks of Globalization. Default of Argentina was impossible to avoid which turned out to be the biggest sovereign debt to be occurred by any region. Instead of the IMF providing the liquidity at a crucial time to help safely lower the value of the peso, they actually took upon themselves a strategy of adjusting the conditionality goal posts. Meaning Argentina couldn’t be provided with more funds until they agreed to every new set of policies imposed.Without injections of liquidity, inflation mounted and the social conditions within Argentina worsened. â€Å"Argentine GDP plummet ed 15% in the first quarter of 2002, open unemployment rose to nearly 25% and the number of Argentine households consuming below the poverty line soared above 50%† (fpif. org). When analysing the two crises, it can be viewed that there are many similarities but also many differences between the East Asian crisis and the Argentine crisis. Both the discussed regions received bail-outs from the IMF in order to try and sustain the exchange rate.Both of these regions had to follow the conditions in order to receive these bail-outs which did no prove successful in either case. The build of debt is one of the strongest similarities between the two crises as both of these regions experienced growing amounts of debt, short-term in East Asia and long-term in Argentina and corporations were heavily indebted in both regions. The slumping exports were caused in both regions as they were perceived as too expensive, whereas imports increased particularly in East Asia.The miracle that occurre d years before had created a boom in the region and â€Å".. sucked in ever increasing imports – from machinery and elevators to Mercedes Benz cars and French cognac†( Lassere, Schutte 1999, pp 20). An overvalued exchanged rate was a feature within both crises and had an underlying effect on exports and lack of investment into the regions. â€Å"The havoc that an overvalued exchange rate and excessive foreign debt caused in Argentina is certainly not unique. These two conditions, either singly or together, have been the cause of every currency crisis (e. south-east Asia) during the last two decades† (jstor. org). Due to the overvalued exchange rate, both of the regions experienced a lack of competitiveness. An additional significant alikeness between the two crises is the affect the dollar pegs had on creating vulnerability. Argentina’s peso was strongly linked to the US dollar, as were East Asian economies prior to 1997 and after this period had unoffici al links to the US dollar. Those East Asian countries which were linked to the US dollar suffered lack of competitiveness as in Argentina.Secondly, corruption featured highly in the Argentinean crisis and was a recurring feature within East Asia. The corruption in East Asia however was in a different form. The Argentine Government continued to overspend whereas the President of Indonesia for example was constantly accused of abusing his authority. Most crises including East Asia and Argentina result in contagion being spread to neighbouring countries. In both crises the level of exports decreased significantly and this naturally has had an onward affect upon surrounding economies.Although both regions exported their financial instability to neighbours, the extent to which this was done was more so in East Asia as this crisis attacked others on a global scale. In the case of Argentina, contagion did exist but to a much lower extent. â€Å"In addition, the Argentine crisis, having be en well anticipated, did not lead to Contagious fallout to other emerging economies in the region, let along the globe† (lkyspp. nus). The responsibility for the blame was put down to ill managed domestic policies and little thought went into whether financial crises could actually be contagious.The contagion from Argentina was dispersed mainly in Brazil, Uruguay and Paraguay rather than spreading worldwide. The biggest difference between the two crises was the liberalisation which was pushed on East Asia by the IMF. Liberalisation was never forced upon Argentina by the IMF even though they were both developing countries and would both be at risk from liberalisation – particularly fast liberalisation as in East Asia. A second major contrast between the two crises was the Government which in East Asia has surpluses which was the opposite of Argentina’s status.The issue of demand was also significantly different in the two cases and should have altered the IMF†™s policies towards this as Argentina required less demand but East Asia on the other hand would have benefited from supplementary demand. While it is true that both crises were partly caused by that of mounting debt, this debt in Argentina was created through proliferate spending by the Government. East Asia accumulated their high level of debt in the private sector. Although contagion was rife in both crises, the third of three elements of contagion differed between East Asia and Argentina.In East Asia, there was a deficiency in opportunities for trade and furthermore created a reduction in imports in neighbour after neighbour. â€Å"This channel of contagion was powerful because, by the mid -1990’s, East Asia provided markets for more than half of the exports of East Asian developing economies†¦Ã¢â‚¬  (McLeod, Garnaut, 1998, pp362). This element differed from the Argentine contagion as it made recuperation of East Asian regions more intricate. There are several le ssons that can be learnt from both of these crises in order to prevent similar consequences in other economies.The severity of the crisis in East Asia shows the necessity of creating strong macroeconomic policies which are region specific. The first lesson that can be taken is the importance of realistic macroeconomic policies for all concerned because of the globalization of financial markets. Institutional characteristics are crucial and a lack of control – particularly within the financial sector causes bankruptcies. The risky lending from financial institutions showed a lack of control over the institutions and the borrowers themselves. The banking industry naturally becomes weak and triggers crisis such as in East Asia.This highlights the need to provide support to liberalisation in the financial industry. â€Å"In addition, the East Asian crisis exposed inadequacies in he application of existing best practices in banking and financial intermediation, both areas where b etter information and guidance were needed† (imf. org). The second lesson to be learnt from the East Asian crisis is that liberalisation in the globalising world can sometimes be effective when countries are strongly encouraged to open their economies. East Asia however proved that liberalisation can actually destroy smaller dependant economies.This would indicate that it is necessary for a developing country to have strategies in place to limit risks that are associated with the effects of globalization. If liberalisation does occur in developing countries then it should be a slower process so the country can gain knowledge while the process is occurring in order to be adequately prepared for the challenges of this liberalisation. Thirdly, a further lesson to be learnt from East Asia is that on a macro economic level, foreign debt has to be strictly managed. Governments must take care to limit the amount of loans that can be taken out by companies in dollars.It can be debated that it was the excessive foreign debt that actually made the crisis so severe. If may seem that countries with higher levels of exports are able to maintain a high level of foreign debt, this, however is not the case. Export growth can slump as happened in most East Asian countries. Finally a strong feature of the East Asian crisis was the contagion that spread through neighbouring countries as effects are passed through the supply chain. An awareness of â€Å"exporting contagion† is necessary, as is constant guidance within the financial sector.This is the only evidence needed to show that no country can isolate itself from the events occurring in another. Additionally, neighbouring countries should be taken into consideration when devising policies that may suit one country but have negative effects on another. There are of course also lessons to be learnt from the ongoing crisis in Argentina. Firstly a fixed exchange rate should be avoided where possible as it leads to a n overvalued exchange rate. Moreover, the currency is unable to remain competitive in comparison with neighbouring countries inflicting plummeting exports and defaults.A floating exchange rate is necessary to combat such issues. Pegging a currency to the dollar is risky when the exchange rates are unstable. In addition to this, the Argentine crisis is a harsh lesson that Globalization exposes an economy to external shocks and adjustments in exchange rates need to be made to deal with this. Secondly and rather obviously as in the case of East Asia, foreign loans should be limited as excessive levels of borrowing is US dollar involves risk taking. If the dollar strengthens, as in East Asia, it is more difficult to pay back loans when they are rolled over.This excessive borrowing leads to defaults as experienced in 2001. To conclude, increasing foreign loans were the main cause to the deepening of both crises as this affected their viability for investment. Finally, there is one vital lesson that should be learnt when helping developing countries to avoid crisis like so many before. Fixed exchange rates are rarely beneficial for a developing country. As in both cases, it becomes overvalued when pegged against a currency of higher status and a crisis is inevitable when a country is not worthy of investment in comparison with its neighbours.

Wish War Veterans a Happy Veterans Day

Wish War Veterans a Happy Veterans Day The eleventh day of November is a special day. In the United States, the day is called Veterans Day. In some other parts of the world, it is called Remembrance Day, a day to honor military folk, who served during war.This day draws the nations attention to the sacrifices made by its war heroes. Americans express their collective pride for the armed forces. Mark TwainIn the beginning of a change, the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot.Arthur Koestler The most persistent sound, which reverberates through mens history is the beating of war drums.Dan LipinskiOn this Veterans Day, let us remember the service of our veterans, and let us renew our national promise to fulfill our sacred obligations to our veterans and their families who have sacrificed so much so that we can live free.John DoolittleAmericas veterans have served their country with the belief that democracy and freedom are ideals to be upheld around the world. Veterans Day Background On November 11, 1918, the First World War officially ended. A year later, American President Woodrow Wilson formerly instituted Armistice Day to honor the brave hearts, who were martyred during the war. However, Second World War veteran Raymond Weeks from Birmingham, Alabama had a different vision. In 1945, Weeks announced that 11 November should honor all war veterans. Hence two years later, the first Veterans Day was observed, paying tribute to all those who served the military during war. Veterans Day is now a federal holiday across America. Veterans Day Celebrations in America On this day, military veterans are awarded medals and honors for their selfless hard work. At 11 a.m., the ceremony begins with the official wreath-laying at the Tomb of the Unknowns, followed by a colorful parade by various veterans service organizations, and speeches made by dignitaries. Elsewhere, states conduct their own parades, honoring brave military personnel, who served during wartime and peacetime. Gary HartI think there is one higher office than president and I would call that patriot.Douglas MacArthurIn my dreams I hear again the crash of guns, the rattle of musketry, the strange, mournful mutter of the battlefield.Michel de MontaigneValor is stability, not of legs and arms, but of courage and the soul.Vijaya Lakshmi Pandit The more we sweat in peace the less we bleed in war. Celebrating Courage Under Fire Writer George Orwell made a moving comment on civilians attitude to the military when he said, People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf. Author Mark Twain also brought out the tragedy of being in a war. Twain wrote, Anyone who has ever looked into the glazed eyes of a soldier dying on the battlefield will think hard before starting a war.Remember these famous Veterans Day quotes when you offer your opinion during a conversation on war, peace, and the military. War is certainly not a game for the men and women who have to show courage under fire. Remember Your War Heroes If you love poetry, spare a moment to read Tommy, a classic poem by Rudyard Kipling. The poem talks about the publics hypocritical attitude to the common soldier, typified by Tommy Atkins. Towards the end of the poem, Kipling writes, Its Tommy this, and Tommy that,And chuck him out the brute,But its Savior of his Country,When the guns begin to shoot. Kipling may have been describing military life in Britain, but the poem has universal significance. Around the world, we fail to give our military heroes their due. As you read some Veterans Day quotations from poems, you will gain insight into the lives and motivations of those serving in the military. Byron PulsiferTo be free and to have a choice and a voice means that veterans have been quieted through death.Henry Ward BeecherAre they dead that yet speak louder than we can speak, and a more universal language? Are they dead that yet act? Are they dead that yet move upon society and inspire the people with nobler motives and more heroic patriotism?Jeff MillerThe willingness of America’s veterans to sacrifice for our country has earned them our lasting gratitude.

Qatar's CO2 Emissions Research Paper Example | Topics and Well Written Essays - 1000 words

Qatar's CO2 Emissions - Research Paper Example Its per capita CO2 emissions are the highest in the world and are three times that of the US (Pearce). Although its emissions have multiplied four fold since 1990, the country is not penalized for it, as it is classified as a developing country, thereby escaping the need to set emission targets as per the Kyoto Protocol (Pearce). Considering the global drive to reduce carbon emissions and protect the environment, Qatar has begun taking initiatives to keep its share of the global carbon emissions and greenhouse gases in check. The urgency to introduce measures to reduce its carbon footprint came to global notice after the UNDP Human Development Report of 2007 identified it as being the highest contributor to global carbon emissions with per capita CO2 emissions being 79.3 tones/capita (â€Å"Combating Qatar's CO2 emissions, Carbon World 2009 addresses reduction†). Effect of CO2 Emissions and Green House Gases (GHG) on the Environment Carbon dioxide and other GHGs such as sulphu r dioxide, methane and nitrogen oxides liberated upon burning fossil fuels have massive negative effects on the environment. These gases upon accumulation over the earth cause climatic changes due to global warming, which in turn affect other ecological features of the planet. CO2 and GHGs allow the sun’s heat to reach the earth’s surface; however, they do not allow the infrared light or heat emitted by the earth’s surface from leaving (Williams 6). This process results in the accumulation of heat on earth, much like what happens in a greenhouse. The trapping of heat results in global warming which in turn causes massive alterations in global climates. These climatic changes affect forests, vegetation, agriculture, and rainfall, apart from causing a rise in sea level by melting the polar ice sheets (ReVelle and ReVelle 376). Such changes adversely affect all life forms on earth. However, as Williams points out, the process that is actually occurring is more comp lex than greenhouse effect and global warming (6). He reasons that the earth is not a perfect sphere and has irregular features on its surface such as mountain ranges, forests, oceans, polar ice caps, etc. Not two regions display the same response to excess CO2  ­and GHGs in the environment. Therefore, as Williams argues, â€Å"future climate change is regional, not global† (6). High CO2 emissions lead to adverse effects on the climate, which influences not only agriculture and water levels, but also causes water stress and water insecurity, climatic disasters, adverse effects on human health, and even negative effects on biodiversity and ecosystem (GSDP 17). Considering the complex association between the climate, the environment and greenhouse gas emissions, it is understood that controlling and monitoring the carbon and ecological footprint of manmade processes is an indispensable requirement. Qatar is the Highest Country per Capita in CO2 Emissions As already stated, Qa tar’s per capita CO2 emissions are the highest in the world. The main reason for Qatar’s high CO2 emissions is its extremely high use of energy (Pearce). Qatar has large industries for the extraction and processing of its fossil fuel reserves (GSDP 104). These industries themselves have high energy consumption. Qatar is the largest producer of liquefied natural gas and exports a huge amount of its gas reserves to Europe and North America (Pearce). While liquefied natural gas is a clean fuel, its extraction and liquefaction is a very high energy consuming process and this contributes to the country’s already high carbon footprint. It can thus be said that while the country produces clean fuel that helps other countries meet

International payments and settlements currency transactions Essay

International payments and settlements currency transactions - Essay Example Prestigious companies of the stature of Halliburton, Lucent Technologies and Monsanto face allegations of bribery to gain unnatural advantage in business and billions of dollars involved. A discussion on this issue including an assessment of the impact of the Foreign Corrupt Practices Act and the Organisation of Economic Cooperation and Development Convention forms 'Section-2' of this paper. The objective of this section is to understand the law and to suggest a way forward for businesses and governments to control this menace. Utilitarian analysis of bribery serves no purpose at all since there is no ground for choosing an option that allows for bribery. International trade involves the exchange of goods and services ('goods') and international payments. There are several ways to make payment for goods received, each involving certain methods and procedures and the inherent advantages and disadvantages. The choice of mode of payment depends upon the contract negotiated between the exporter and the importer. Within this parameter, each partner to the agreement will tend to look for the most cost-effective and secure way of making the transaction. Open account trading is the simplest where the supplier makes an invoice and the buyer pays. Rarely followed in trade, only between the US, UK, and some European countries, and there is no further reference to this mode in this paper. Documentary Collection Exporters, to obtain payment from customers in another country, use the collection services provided by banks. The International Chamber of Commerce has established a set of, standard and internationally accepted, rules known as the 'Uniform Rules for Collection', (1995 Revision, ICC publication No. 522). The bank may be required to handle financial documents such as the bill of exchange or promissory note and other secondary documents like the Bill of Lading, Invoice, Certificates of Inspection and so on. When both types of documents are to be collected, it is called documentary collection. Clean collection is of only financial documents. The crucial financial document is the 'Bill of Exchange'. It is an agreement to pay a fixed sum by the buyer to the seller on a fixed date. It is an instrument made out in writing and signed by the maker (drawer, the importer) directing another person (drawee, usually a bank) to make payment to a third party (payee, the exporter). Called 'Bill of Exchange' in International law, it is called a 'Draft' in the Uniform Commercial Code. A bill of exchange differs from a promissory note, in that, it is a firm commitment to pay rather than a promise to pay and a third party - the drawee is involved. A bill of exchange may also be subject to meeting certain conditions by the payee. A draft has no value unless the Importer accepts it. However, the payment made immediately (Sight Draft, or Documents against Payment D/P) or at a mutually agreed future date, endorsed on the draft (Time Draft, or Documents against Acceptance D/A, or Usance). The advantages of this mode of payment are: It is relatively safe for exporter offering a measure of protection. The

TORT LAW PROBLEM QUESTION (Defamation) Essay Example | Topics and Well Written Essays - 1750 words

TORT LAW PROBLEM QUESTION (Defamation) - Essay Example fathers who had been injured in the Great War, and all of them knew the quotation from that great elegy for the First World War dead: ‘In Flanders field, a poppy grew’. Three generations have passed since the 1920s, and people no longer share these cultural references. Today in 2010 most inner-city youngsters associate the red poppy with the production of opium, morphine and heroin. The average twenty-year old in Toxteth, Gateshead or Hackney looks in bewilderment at politicians and news-readers all dutifully wearing their poppies. Why are they all advertising the drug-trade, and what connection does that have with Britains current wars? The smarter ones soon work out the answer: it must be in celebration of the fact that opium production has soared in Afghanistan since the British Army took over Helmand from the Taliban ... Since the Anglo-Chinese Opium Wars of the 1840s the British Army has long been involved in facilitating drug trafficking. But is this something we s hould celebrate each year by supporting the Poppy Appeal? BRITISH LEGION, listen to me! If your present purpose is to collect funds for the wounded of Britains elective wars in Bosnia, Iraq and Afghanistan, then you need a less controversial symbol. How about a paper representation of a shrapnel wound, red with blood, that can be pinned to each politicians lapel? ... Until the BRITISH LEGION gets its act together, we must boycott the Poppy Appeal. At present everyone wearing their artificial red poppy is signaling their support for the drug runners of Afghanistan and for those British soldiers who collude with them. 2. Whether or not the British Legion as a charitable organisation as a claimant may sue for damage to its reputation. If the answer is favorable, then the next issue is whether or not Smith may sue on behalf of the charity. 1. The most important issue is whether or not the words in the article are defamatory. Firstly, it must be explained what exactly is a defamatory statement.

Analysis of the 23rd march jerusalem bombing in media coverage Assignment

Analysis of the 23rd march jerusalem bombing in media coverage comparison between western and islamic media - Assignment Example Also, news reports from WorldNetDaily (US), another western media house with wide readership will be examined. Dawn (Pakistan), Arabnews (Saudi Arabia), and Palestine Post (run by a group of Palestinians) will represent media from the Islamic world during this discussion. One can expect Palestine Post to be least neutral while covering the incident because of its direct interest in the outcome of the conflict. As a result, in terms of neutral reporting, Palestine Post can be left out of scope or kept at the bottom of the pyramid. Despite being committed to peace and impartiality, there can still be differences in the approach of news by media houses because of a number of factors. Historical ties (in terms of same culture, religion, etc.) or interests (economical, political, etc.) with one party can develop biases, which often require an art of reading in between the lines while analyzing their contents. It is, then, only natural that media in western countries and Islamic world diff er significantly while reporting international events such as September 11, 2001 attacks on US, or as one can note under this discussion, 23rd March Jerusalem bombing. Such preferences are often the results of looking at things from a local perspective. For instance, while expressing anguish over the casualties in September 11, 2001 terrorist attacks in US, international media also blamed US for not taking into considerations the interests of the Muslim world (‘September 11, 2001’, 2011). Such anguish may be more evident among news reports from Muslim-dominated countries like Pakistan, which is still a democratic country with liberal press. Under this discussion, it will be seen how there were subtle differences in the ways of reporting by western and Islamic media while covering 23 March 2011 Jerusalem bombing. One person (a 59-year-old British woman) was killed and 30 others were injured in the bus attack at a busy bus spot during day time that day following days of d eteriorating law and order situation in the city. Early headlines of a breaking news story say a lot about psyche of news editors. Initial headline by BBC â€Å"Deadly bombing targets Jerusalem bus stop† denotes serious indifference to the victims who were affected by this act of violence. Was it just inanimate bus stop that was the victim of deadly bombing and not Israelis or any other innocent residents in Jerusalem? (‘Deadly bombing targets Jerusalem bus stop’, 2011) BBC, as one could read from its â€Å"mission and values† statement claims to pursue impartial approach (BBC, 2011). However, a close look at many BBC reports reveals that many are either in favor of Palestine or in favor of Israel. It is quite natural to form biases as news reports, at the end of the day, are written by hundreds of correspondents who often come in close relationships with the local people. While reporting Israel-Palestine conflict, reporters often spend days with the local Muslim people which may bring some bias that earlier in this study

The Criminal Justice Process Research Paper Example | Topics and Well Written Essays - 1500 words

The Criminal Justice Process - Research Paper Example On a written complaint to the police by the victim, it is incumbent upon the police to investigate the matter. As a result of police investigation, if it is found prima facie that crime has been committed, the police may arrest the suspect on the basis of warrant of arrest issued by the judge. The police after completion of its investigation shall submit its investigation report to the office of District Attorney. The prosecuting attorney will review the investigation report to determine whether to suspect will be connected with the crime or not (Steury & Frank, 1996). If suspect connects with the crime, he / she may be sent to the prison. He / she remains in the prison until the case is decided by the competent court of law. If released on bail, the release agreement will sign by the accused criminal. The release agreement contains the conditions that accused will appear in the circuit court on due dates of hearings, will not leave the place of residence without the court permission and will not intimidate the victim in any manner whatsoever. If the defendant contacts victim, the victim has the right to report the matter to the court release officer for taking necessary action. The release agreement will be effective until the court decides the case (Walklate, 1989). The case starts when charge document against an accused is filed by the district attorney. Charge document may be in the form of complaint, information or indictment. A crime comes under the ambit of felony where one can get imprisonment for a period of more than a year. The crime committed under the felonies is manufacturing, delivering and possessing of drugs, theft, burglary, sexual assault etc. However, misdemeanor crimes (harassment, menacing and trespassing) are those where an accused cannot get sentence of incarceration of more than a year (Walklate, 1989). First appearance of a defendant in a

Insurance Research Paper about the Real Estate Development Industry

Insurance about the Real Estate Development Industry - Research Paper Example emand pool for real estate industry has increased due to various reasons of zero tax rules for foreign investor, strong international and domestic marketing campaigns, high rental on residential property, residence visa facility by property developer and speculation on short term market gain (Kumar, Agarwal, & Khullar). 2.0 Topic 1. Insurance in Real Estate Industry Real estate property dealers or common residents need to submit various documents like Police Report of burglary or any kind of criminal activity caused property loss, report about estimated damage or loss, surveyor report about property condition and relevant papers required by insurance company to get insurance cover. 2.1 Quotation Dhs.1, 500/- is deducted by insurance company from the claim amount on every loss while quotation value depends on the location and building condition of property. Insurance company and real estate property developers decide quotation amount after mutual agreement. In accordance with Dubai Is lamic Insurance & Reinsurance Co, proposal for real estate industry following insurance covers can be used to answer the question. 2.2 Perils Covered Under Insurance Building and all inside fixtures are protected by insurance cover, Loss of Rent due to fire accident, Sign Board of the company or any kind of hoarding, fixed metal plate work and glass work inside the building. Standards perils like Fire, Malicious Damage, Storm, Flood, Impact, Earthquake, Riots, Strikes, Lightning Explosion and Bursting of Pipes are also covered by insurance scheme. 2.3 Additional Benefit Additional benefits like Debris Removal, low Architect and Surveyors fees and reimbursing Fire Extinguishing expenses are also offered by some insurer to property developers. 2.4 Perils Not Covered Under Insurance Perils... This paper stresses that the present financial crisis may be regarded as a banking crisis, but there are hardly any possibilities of the solvency of the insurance industry. However to a certain extant the insurance industry on a whole has been affected by the ongoing financial crisis. To be more specific the insurance companies which are mainly involved in the real estate insurance also got hugely impacted. Mostly there have been adverse effects were adverse for the companies. The financial crisis had a visible impact on the insurance companies, principally due to their investment portfolio. Meanwhile as the crisis further spread, the valuations of the financial market worsened drastically. Apart from that a number of strenuous exposures were also reveled in the form of market and credit risks. This report makes a conclusion that the real estate insurance companies, during the midst of the crisis period were finding it difficult to sustain, due to extreme downward pressure. The real estate insurance companies are generally large investors and they highly depend upon the long term investment prospect, unlike banks and other financial institutions. Owing to the fact that declining household income reduces the demand of various products, similarly the demand of real estate insurance has greatly reduced due to the crisis. Furthermore, the financial crisis has also abridged activities pertaining to real estate. This has automatically minimized the need of the real estate insurances. Thus it can be concluded that the ongoing financial crisis did impacted the insurance companies which insured real estate to a large extant.

The Criminal Justice Process Research Paper Example | Topics and Well Written Essays - 1500 words

The Criminal Justice Process - Research Paper Example On a written complaint to the police by the victim, it is incumbent upon the police to investigate the matter. As a result of police investigation, if it is found prima facie that crime has been committed, the police may arrest the suspect on the basis of warrant of arrest issued by the judge. The police after completion of its investigation shall submit its investigation report to the office of District Attorney. The prosecuting attorney will review the investigation report to determine whether to suspect will be connected with the crime or not (Steury & Frank, 1996). If suspect connects with the crime, he / she may be sent to the prison. He / she remains in the prison until the case is decided by the competent court of law. If released on bail, the release agreement will sign by the accused criminal. The release agreement contains the conditions that accused will appear in the circuit court on due dates of hearings, will not leave the place of residence without the court permission and will not intimidate the victim in any manner whatsoever. If the defendant contacts victim, the victim has the right to report the matter to the court release officer for taking necessary action. The release agreement will be effective until the court decides the case (Walklate, 1989). The case starts when charge document against an accused is filed by the district attorney. Charge document may be in the form of complaint, information or indictment. A crime comes under the ambit of felony where one can get imprisonment for a period of more than a year. The crime committed under the felonies is manufacturing, delivering and possessing of drugs, theft, burglary, sexual assault etc. However, misdemeanor crimes (harassment, menacing and trespassing) are those where an accused cannot get sentence of incarceration of more than a year (Walklate, 1989). First appearance of a defendant in a

Blue Jeans Essay Example for Free

Blue Jeans Essay The article â€Å"Blue jeans: Born to last† by Leslie C. Smith was published in Globe and Mail in 1992. Smith gives the brief details and the history of world popular blue jeans. The main idea of the essay is that how blue jeans came into life and what does it represent. In 1980’s, during the time of gold rush, French cotton called denim came into being which replaced canvas and people called it jeans. In 1853, Levis Strauss German manufacturer, though of curving into miners’ tents. Furthermore, Levis Strauss plans to cut canvas into pants for workers because routine trouser does not accomplish the necessity of them. Also, it can be worn by common man and celebrities. Although, The blue jean is the symbol of equality. In the essay Blue Jeans: Born to last, the author Leslie C. Smith says that â€Å"Jeans are functional and down-to-earth and unisexual† (Dasgupta, pg.107). The author expressed the qualities of the blue jeans. He explained the jeans are very suitable and can be worn by either male or female. It is very realistic and purposeful. Moreover, it is comfortable and trendy. The author Leslie C. Smith also talked about the cowboys that: The favoured grab of cowboys, by the 1930s they were an established icon-one that Easterners. Fresh from their vacations on popular dude ranches, were happy to appreciate.(1992, pg. 106). According to this, the jeans become favoured among cowboys in 1930s and it was the symbol of tough nature of American people to the rest of the world. Hence, jeans become a representation of cowboys. It provided cowboys a different identity. Blue jeans: Born to last, highlight the details of the blue jeans and explained that how jeans introduced to the world and what does it represent. It has slang expressions and informal language. As blue jeans is the most preferred dress in the world. The main purpose of this essay is that a blue pair of jeans is the one common thing between a common man and a superstar as it is the symbol of equality. The audience of the essay is the common people. The essay conveys a good message of equality and harmony.

Identify And Describe Types Of Business Entities Business Essay

Identify And Describe Types Of Business Entities Business Essay Business can be defined as an organization that provide goods and services to others, who want to do or need them, when people think of business careers, they have to think of job in large wealthy corporation, there are wide verity of career areas in business line. Definition of business Entities: Business Entity is an organization that possesses a separate existence for tax purposes. Some types of business entities include corporations and foreign corporations, business trusts, limited liability companies, and limited partnerships. Types of Business Entities; A business entity is the vehicle  a person or group of people use to carry on a trade or activity. There are fore main type of Business Entities, sole trader partnership limited liability partnership limited liability company reference:- http://www.completeformations.co.uk/companyfaqs/business_entities/types.html Business entities are the things that are stored and maintained by a business component, such as customers or orders. It may be helpful to think of business entities as the nouns in the application. Entities always contain data, and may contain processing capabilities that can act on that data. Each of these business entities has its own particular benefits and its own set of drawbacks, such as limited liability ease of set-up and the level of bureaucracy, which is required to run them When choosing a form of business entity, compare the tax, liability and management impacts of a sole proprietorship, corporation or flow through to see which will work best for your arts / crafts business. Reference:-http://artsandcrafts.about.com/od/startingyourbusiness/tp/compareentities.htm Note; The structure your business assumes is important in determining your limitations and liabilities. Depending on the type of structure you choose, additional paperwork may be necessary to establish the business, may your accountant help you to decide what type of business structure best fits your needs. Q2) Describe the Accounting Process in the terms of a) Recording b) Analysing c) Interpreting Financial Data Ans: Accounting Process: Accountings process is an overview of the step of the accounting cycle, beginning with a transaction and ending with the closing of the book and reversing, book keeping is the actual recording of the companys transaction, The recording process in accounting is the process of summarizing, classifying, and recording analysed transaction data in the journal in a systematic and chronological order and posted those to the ledger. The process of Recording transction in the journal is call journalizing. http://wiki.answers.com/Q/What_is_the_recording_process_in_accounting When the accounting process is complete a set of financial statements is issued. Financial statements are crucial for investment decisions, tax assessments, and conflicts resolution, Analysing a transaction grant reliance and relevance to the financial information, accounting information must be reliable and relevant, When analysing transactions the following questions should be posted and answered: 1) what are the accounts involved in a transaction? 2) What are the classifications of the accounts involved? Are they Assets, Liabilities, Owners Equity, Revenue, or Expense accounts? 3) Are the accounts increased? 4) Are the accounts decreased? http://www.bellaonline.com/articles/art48482.asp Business transactions are events that have a direct economic impact on an entity and are expressed in terms of money. Interpreting performance of the business to the management and its owners, The purpose of financial accounting statements is mainly to show the the financial position of a business at a particular point in the time and show the how the business is going on, Financial information is always prepared to satisfy in some way the need of various interested parties, The process by which accounting information is collected,reported interpreted and and actioned is called finacial manegment, Q3) Explain the term Accounting and the 3 purposes discussed earlier Ans:- Accounting is a business discipline that allows companies to record, analyse and retrieve critical financial information that can be used to determine a companys financial status and provide reports and insights needed to make sound financial decisions, The primary purpose of accounting is to identify and record all activities that impact the organization financially, that will help the various external and internal parties of the business to appraise the profitability as well as the solvency of the business. The three main financial statements that are prepared for the purpose of accounting information are as follows http://www.ehow.com/about_4679149_purpose-accounting_. Him There are three purposes of accounting, the first one is to make sure the that all you have everything that you need to run a successful business that include that you have the right stock, which is recorded its means keep stock the business, The second purpose of accounting is for score keeping its meaning is to make sure the business has the right stock to make profit,,, Third purpose of the accounting is to analysing the information about the business profit and lose, to help the business direct area, where is the best profit can be made, For example; to buy the things that sale the most to make the business profit The above three purpose of accounting are important to run your Business, Q4) Describe the range of Organisational Structures Ans: Organisational are a variant of types of Entities. An organization can be structured in many different ways and styles, depending on their objectives and ambience, Organizational structure allows the expressed allocation of responsibilities for different functions and processes to different entities such as the branch, department, and individual. Individuals in an organizational structure are normally hired under time-limited work contracts or work orders, or under permanent employment contracts or program orders. Director Manager Assistant Manager Front Line Staff Main Staff For example another diagram. Board of Director Chief Executive General Manager Financing Manager Front Line Staff Finance Administration General Line Staff This is a diagram about organisation and structure in business. Q5) Explain the importance of budgeting Ans; Importance of Budgeting. You dont have to over spend, to keep control of your finance shows that you dont over spend. If you spend you going to debt, it means business loss. So you have to control your budgeting in business. It also has record keeping that records how much money you have. If you dont control budgeting your business will not grow successfully. It is also to keep better control of all your finances so that you can buy the right amount of stock which will earn the business a better profit and keep the business going for longer. It helps to keep agreements on all your money for longer periods, for example if you keep a budget plan for 5 years then you have control of not spending the profits that you make. End of assignment