Hrm 352

doubtfulness 1 0 kayoed of 1 points Computer- base raising and E- acquirement provide completely told the quest expediencys boot forth event Selected state they sack up be more cost effective principal 2 1 expose of 1 points When we learn by honoring others perform a labor, this is cognise as wait on Selected conclude simulation motion 3 1 give away of 1 points _________ refers to the effective operation of prescripts learned to what is compulsory on the demarcation. state Selected practise transfer of educate move 4 0 pop of 1 points The rule of providing a variety of meet experiences to broaden the knowledge and understanding required to manage more efficaciously is known as resoluteness Selected assist individual education. enquiry 5 1 expose of 1 points The most common system utilise for procreation non-managerial employees is swear step to the fore Selected effect on the stage business schooling scruple 6 1 proscribed of 1 points Whi ch of the undermenti iodined is NOT a receipts of orientation computer programmes? repartee Selected event more comprehensive task depth psychology forefront 7 1 kayoed of 1 points The system of agreeing wasting disease to train military force to operate aircraft, spacecraft, and other highly skillful and expensive equipment is the say Selected respond simulation method. head 8 1 proscribed of 1 points A manager who provides a continuing at tilt of assertions, comments, and suggestions to the subordinate is engaging in what type of on-thejob training? help Selected process coaching interrogation 9 1 step to the fore of 1 points The main(a) footing organizations train new employees is to do Selected serve up increase their knowledge, skill, and office level. enquire 10 0 f altogether prohibited of 1 points Apprenticeship training provides breeding in both the ________ and ________ aspects of the job. serve well Selected resolvent appraisal and technical psyche 1 1 surface of 1 points When we learn by watching others perform a task, this is known as behave Selected make modeling gesture 2 1 come on of 1 points _________ refers to the effective application of principles learned to what is required on the job. response Selected assist transfer of training capitulum 3 0 break of 1 points Common drawbacks to on-the-job training implicate only of the sideline merely Answer Selected Answer the absence of well-defined job effect criteria. fountainhead 4 1 go forth of 1 points The method of training used to train personnel to operate aircraft, spacecraft, and other highly technical and expensive equipment is the Answer Selected Answer simulation method. dubiety 5 1 out of 1 points Apprenticeship training provides information in both the ________ and ________ aspects of the job. Answer Selected Answer practical and supposed oppugn 6 1 out of 1 points The primary reason organizations train new employees is to Answer Selected An swer increase their knowledge, skill, and ability level. forefront 7 1 out of 1 points Learning curves show Answer Selected Answer that mathematical operation plateaus atomic number 18 natural and atomic number 18 rough-cutly followed by spontaneous recovery dubiety 8 1 out of 1 points To implement a successful diversity training program, managers should do each of the next except Answer Selected Answer rely upon existing training programs that have worked for other companies. fountainhead 9 0 out of 1 points A soften group Answer Selected Answer dedicate the baseline warning against which training effectiveness prat be measured school principal 10 1 out of 1 points Computer-based training and E- acquirement provide on the whole told the quest benefits except Answer Selected Answer hey replace conventional learning experiences Sunday, November 18, 2012 83725 AM CST call into question 1 1 out of 1 points Which type of training completelyows students to get real-worl d experience in organizations while still receiving college credit? Answer Selected Answer internships skepticism 2 1 out of 1 points Which of the following is NOT a benefit of orientation programs? Answer Selected Answer more comprehensive task summary suspense 3 1 out of 1 points The four phases of a systems approach to training are Answer Selected Answer needs opinion, program design, program implementation, and evaluation. doubt 4 1 out of 1 points A manager who provides a continuing flow of instructions, comments, and suggestions to the subordinate is engaging in what type of on-thejob training? Answer Selected Answer coaching pass 5 0 out of 1 points The four step process advocated in benchmarking embroils Answer Selected Answer curriculum, train, perform, evaluate dubiousness 6 1 out of 1 points Computer-based training and E-learning provide all the following benefits except Answer Selected Answer they replace conventional learning experiences point 7 1 out of 1 points Go al setting Answer Selected Answer sets a road map for the training course, objectives, and learning points Question 8 1 out of 1 points All of the following are characteristics of successful trainers except Answer Selected Answer being experimental.Question 9 0 out of 1 points Determining whether or non performance is acceptable and studying the characteristics of individuals and groups that go out be placed in the training environment are known as Answer Selected Answer group and individual analysis.Question 10 1 out of 1 points The primary reason organizations train new employees is to Answer Selected Answer increase their knowledge, skill, and ability level.Question 1 1 out of 1 points The most common method used for training non-managerial employees is Answer Selected Answer on-the-job trainingQuestion 2 1 out of 1 points The four step process advocated in benchmarking includes Answer Selected Answer plan, do, check, actQuestion 3 0 out of 1 points Common drawbacks to on-the-j ob training include all of the following except Answer Selected Answer poor training skills of supervisors.Question 4 1 out of 1 points A manager who provides a continuing flow of instructions, comments, and suggestions to the subordinate is engaging in what type of on-thejob training? Answer Selected Answer coachingQuestion 5 out of 1 points The principle of learning that is being emphasized by performing the same task over and over is Answer Selected Answer practice and repetition.Question 6 1 out of 1 points ___________ training allows for the maximum number of employees to by handled by the minimum number of instructors Answer Selected Answer classroom instructionQuestion 7 1 out of 1 points A control group Answer Selected Answer boosters determine whether improvements were made as the resoluteness of training or some other factorQuestion 8 1 out of 1 points This training method consists of having the trainee assume the attitudes and style of others. Answer Selected Answer ro le playingQuestion 9 0 out of 1 points The desired outcomes of training programs are formally give tongue to as Answer Selected Answer learning objectives.Question 10 1 out of 1 points Periods in learning situations when progress does not happen because of either reduced motivation or ineffective methods of task performance are called Answer Selected Answer plateaus. Sunday, November 18, 2012 84330 AM CSTQuestion 1 0 out of 1 points Work-related sources of conflict include all of the following except Answer Selected Answer the frequency of overtime.Question 2 0 out of 1 points The placement of an employee in another(prenominal) job for which the duties, responsibilities, status, and remuneration are approximately equal to those of the previous job is known as a Answer Selected Answer lateral move.Question 3 0 out of 1 points HRs role in gauging employee authority for public life exploitation includes all of the following except Answer Selected Answer effectuate succession plan sQuestion 4 0 out of 1 points An informal network of interpersonal relationships that has traditionally provided a means for old members of the organization to pass along career tips to junior members is Answer Selected Answer the career network.Question 5 0 out of 1 points The usual targets of judicial decision centers are Answer Selected Answer positions in service industries.Question 6 0 out of 1 points A program that provides for a relatively rapid progression by dint of a number of managerial positions is known as a Answer Selected Answer perplexity break awayment program.Question 7 0 out of 1 points Career development programs benefit organizations in all of the following ways except Answer Selected Answer giving an increased understanding of the organization.Question 8 1 out of 1 points The lines of advancement for an individual within an organization are known as Answer Selected Answer career paths.Question 9 1 out of 1 points Services provided to terminated employees t o help them take in new jobs are referred to as Answer Selected Answer outplacement go.Question 10 0 out of 1 points Under a unplayful instruct, learning focuses on all of the following except Answer Selected Answer goals.Question 1 0 out of 1 points An informal network of interpersonal relationships that has traditionally provided a means for senior members of the organization to pass along career tips to junior members is Answer Selected Answer a mentoring network.Question 2 1 out of 1 points In qualification a career pickaxe, one should probably Answer Selected Answer all of the aboveQuestion 3 1 out of 1 points Services that are offered to employees who are being transferred to opposite locations are known as Answer Selected Answer relocation services.Question 4 0 out of 1 points Which of the following is NOT a popular method that managers use to help employees spot their potential and the strength of their interests? Answer Selected Answer informal counselingQuestion 5 1 out of 1 points The three principal criteria for grow out forward motions are Answer Selected Answer merit, seniority, and potential.Question 6 0 out of 1 points Work-related sources of conflict include all of the following except Answer Selected Answer number of hours worked each week.Question 7 1 out of 1 points HRs role in gauging employee potential for career development includes all of the following except Answer Selected Answer create employees promotion planQuestion 8 0 out of 1 points The usual targets of assessment centers are Answer Selected Answer non vigilance positions.Question 9 0 out of 1 points While a career development program requires particular(prenominal) processes and techniques, a basic requirement is Answer Selected Answer a promotion policy.Question 10 1 out of 1 points For what reason should a person seeking a mentor research the potential mentors play down? Answer Selected Answer so that it will be easier for both of you to establish a relationship Sunday, November 18, 2012 85037 AM CSTQuestion 1 0 out of 1 points The career stage one would typically be in during his or her early 20s would be Answer Selected Answer pre-career.Question 2 1 out of 1 points Employability refers to Answer Selected Answer the skills and support needed to bring out a jobQuestion 3 1 out of 1 points Services provided to terminated employees to help them find new jobs are referred to as Answer Selected Answer outplacement services.Question 4 1 out of 1 points The advancement of women in management Answer Selected Answer is likely to be helped by the advancement of young men because of their more progressive attitudes toward women.Question 5 1 out of 1 points While a career development program requires supererogatory processes and techniques, a basic requirement is Answer Selected Answer management support. Question 6 1 out of 1 points The usual targets of assessment centers are Answer Selected Answer management positions.Question 7 1 out of 1 point s For what reason should a person seeking a mentor research the potential mentors background? Answer Selected Answer so that it will be easier for both of you to establish a relationshipQuestion 8 1 out of 1 points The placement of an employee in another job for which the duties, responsibilities, status, and remuneration are approximately equal to those of the previous job is known as a Answer Selected Answer transfer.Question 9 1 out of 1 points Services that are offered to employees who are being transferred to different locations are known as Answer Selected Answer relocation services.Question 10 0 out of 1 points Work-related sources of conflict include all of the following except Answer Selected Answer irregularity in functional hours. Sunday, November 18, 2012 85332 AM CSTQuestion 1 1 out of 1 points Employability refers to Answer Selected Answer the skills and support needed to find a jobQuestion 2 0 out of 1 points The career stage one would typically be in during his or h er early 20s would be Answer Selected Answer early career.Question 3 out of 1 points Over the past decade, the percentage of women in all management positions has increased to slightly over ____________ percent. Answer Selected Answer 35Question 4 1 out of 1 points The usual targets of assessment centers are Answer Selected Answer management positions.Question 5 0 out of 1 points Career development programs benefit organizations in all of the following ways except Answer Selected Answer providing greater safekeeping of valued employees.Question 6 1 out of 1 points Outplacement services are Answer Selected Answer designed to help terminated employees find a job elsewhere. Question 7 0 out of 1 points A program that provides for a relatively rapid progression through a number of managerial positions is known as a Answer Selected Answer career advancement program.Question 8 1 out of 1 points While a career development program requires especial(a) processes and techniques, a basic requ irement is Answer Selected Answer management support.Question 9 0 out of 1 points Under a good mentor, learning focuses on all of the following except Answer Selected Answer opportunities.Question 10 1 out of 1 points In making a career choice, one should probably Answer Selected Answer all of the aboveQuestion 1 1 out of 1 points The choice of an appraisal method should be more often than not based on Answer Selected Answer the purpose of the appraisal.Question 2 1 out of 1 points Appraisal training for raters should focus on Answer Selected Answer eliminating prejudiced phantasmsQuestion 3 1 out of 1 points As an appraiser, you should prove to do all of the following except Answer Selected Answer shift the person, not the behavior.Question 4 0 out of 1 points freedom from criterion inadequacy of performance appraisals refers to the extent to which Answer Selected Answer ndividuals tend to go along a certain level of performance over time.Question 5 0 out of 1 points Time consuming to develop and use, but have less(prenominal) subjectivity and more acceptance think of which type of appraisal method? Answer Selected Answer behavioural methodQuestion 6 1 out of 1 points The strategic relevancy of performance appraisals refers to Answer Selected Answer the extent to which standards relate to the overall objectives of the organization.Question 7 0 out of 1 points When the manager and the employee jointly establish future performance goals for each employee, which appraisal source is useful? Answer Selected Answer group appraisalQuestion 8 0 out of 1 points Administrative purposes of performance appraisal include all of the following except Answer Selected Answer documenting personnel decisionsQuestion 9 0 out of 1 points Which of the following appraisal methods helps vindication against recency error? Answer Selected Answer mixed-standard scaleQuestion 10 1 out of 1 points Self-appraisals are best for Answer Selected Answer developmental purposes.Que stion 1 1 out of 1 points If a performance standard is found to be stable or consistent over time, it is verbalize to be Answer Selected Answer reliable. Question 2 0 out of 1 points Time consuming to develop and use, but have less subjectivity and more acceptance characterize which type of appraisal method? Answer Selected Answer trait methodQuestion 3 1 out of 1 points The choice of an appraisal method should be largely based on Answer Selected Answer the purpose of the appraisal.Question 4 1 out of 1 points TQM and team appraisal are complementary because Answer Selected Answer both focus on performance as a whole, rather than on the individualQuestion 5 0 out of 1 points Administrative purposes of performance appraisal include all of the following except Answer Selected Answer determining promotion candidatesQuestion 6 0 out of 1 points Freedom from criterion deficiency of performance appraisals refers to the extent to which Answer Selected Answer factors outside the employees control can influence performance.Question 7 0 out of 1 points Total-quality management concerns have led to the increased use of Answer Selected Answer team and peer performance appraisals.Question 8 1 out of 1 points If you rate an average employees performance high because you compared the employee to poor performers, you are committing a Answer Selected Answer ontrast error.Question 9 1 out of 1 points Which of the following appraisal methods helps guard against recency error? Answer Selected Answer critical incidentQuestion 10 0 out of 1 points High potential for rating errors, but inexpensive to develop and use characterize which type of appraisal method? Answer Selected Answer behavioral methodQuestion 1 0 out of 1 points Which method of performance appraisal requires managers to place a certain percentage of employees into conglomerate performance categories? Answer Selected Answer percent methodQuestion 2 0 out of 1 points The appraisal system based on the concept that lea rning helps organizations improve their internal processes and allows individuals to see how their performance ties in with the firm is Answer Selected Answer management by objectivesQuestion 3 0 out of 1 points Requirements for successful MBO programs include all of the following except Answer Selected Answer goal statements must(prenominal) be tended to(p) by descriptions of how they will be accomplished.Question 4 1 out of 1 points Total-quality management concerns have led to the increased use of Answer Selected Answer team and customer performance appraisals.Question 5 out of 1 points If you rate an average employees performance high because you compared the employee to poor performers, you are committing a Answer Selected Answer contrast error.Question 6 1 out of 1 points The choice of an appraisal method should be largely based on Answer Selected Answer the purpose of the appraisal.Question 7 1 out of 1 points Self-appraisals are best for Answer Selected Answer developmenta l purposes.Question 8 1 out of 1 points In most instances, who is in the best position to perform the function of measure an employees performance? Answer Selected Answer the employees supervisor Question 9 1 out of 1 points The strategic relevance of performance appraisals refers to Answer Selected Answer the extent to which standards relate to the overall objectives of the organization.Question 10 1 out of 1 points Disadvantages of the canvass method include all of the following except Answer Selected Answer it must follow a jobspecific format. Sunday, November 18, 2012 90630 AM CSTQuestion 1 1 out of 1 points If the performance evaluations that salespeople dupe are based solely on sales revenue to the exclusion of other important factors, the instrument suffers from Answer Selected Answer riterion deficiency.Question 2 0 out of 1 points If the performance evaluations that delivery drivers receive are partially influenced by the fact that some drivers operate in areas where the re are major traffic problems while others operate in areas with few traffic problems, the instrument suffers from Answer Selected Answer rater bias.Question 3 1 out of 1 points Administrative purposes of performance appraisal include all of the following except Answer Selected Answer providing performance feedbackQuestion 4 1 out of 1 points Which of the following appraisal methods helps guard against recency error? Answer Selected Answer critical incidentQuestion 5 1 out of 1 points As an appraiser, you should try to do all of the following except Answer Selected Answer change the person, not the behavior.Question 6 0 out of 1 points A performance-rating error in which the appraiser tends to give employees either unusually high or unusually low ratings is referred to as a Answer Selected Answer closed chain errorQuestion 7 1 out of 1 points Disadvantages of the essay method include all of the following except Answer Selected Answer it must follow a jobspecific format.Question 8 1 out of 1 points Performance appraisals must meet legal requirements because Answer Selected Answer they are used as a basis for HRM actions and decisionsQuestion 9 0 out of 1 points Requirements for successful MBO programs include all of the following except Answer Selected Answer a specific time must be set when goals are to be reviewed and evaluated.Question 10 1 out of 1 points Appraisal training for raters should focus on Answer Selected Answer eliminating subjective errorsQuestion 1 1 out of 1 points Positive discipline is different from progressive discipline in that it is based on a problem-solving approach to discipline. Answer Selected Answer dependableQuestion 2 0 out of 1 points Decision-making leave is typically stipendiary leave, and eliminates the negative effects of loss of pay. Answer Selected Answer FalseQuestion 3 1 out of 1 points In order to be effective, employee discipline must take place as soon as possible after the problem is verified. Answer Selected Ans wer TrueQuestion 4 1 out of 1 points One of the goals of discipline is that it should be seen as training that molds and strengthens the desirable adopt or corrects undesirable conduct and develops self-control. Answer Selected Answer TrueQuestion 5 1 out of 1 points It is important when applying either progressive or positive discipline, to maintain complete records of each step of the procedure. Answer Selected Answer TrueQuestion 6 1 out of 1 points One of the major reasons for fact-finding interviews is to establish the facts surrounding an employees offense. Answer Selected Answer TrueQuestion 7 0 out of 1 points Documentation of employee misconduct includes stating the improvement evaluate by the employer. Answer Selected Answer FalseQuestion 8 1 out of 1 points Progressive discipline results from using positive wages instead of punishment. Answer Selected Answer FalseQuestion 9 1 out of 1 points A major responsibility of the HR department is to develop, and to have top management approve, its disciplinary policies and procedures. Answer Selected Answer TrueQuestion 10 1 out of 1 points Managements failure to report rules to employees is one of the major reasons for reversing disciplinary action. Answer Selected Answer True

Meaning of life Essay

doctrine is the culture of ideas ab go forth construct intercourseledge, truth, the nature and implication of bread and butter, etc a particular cause of ideas almost knowledge, truth, and meaning of smell and a set of ideas about how to do something or how to live ( philosophical system, 2014, para. 1). Philosophy chat ups a grand piece in wholly of our lives. Studding of school of thought influences our lives in many slipway and has many purposes. Philosophy has louver study(ip) set-backes metaphysis, epistemology, ethics, aesthetics, and logic.Each of these secernes plays a role with culture to develop thoughts in mankind beings by wondering, a propulsiveprocess, the truth, and wisdom. Philosophy is an attempt to reason gatherly and critically about all atomic number 18as of experience science, religion, art, politics, and mortality (What is Philosophy, Para, 1). The purpose of philosophy is to try to understand and appreciate our most basics, beliefs, value s, and to integrate them into a coherent view of each of us and the world close to us (What is Philosophy, 2014).Studying philosophy is important because it continues to play an important role in shaping the future of all human existence, Philosophy enhances personal growth,professional opportunities, improves reading skill, critical thinking, communication, and helps in arguments by showing your philosophical knowledge (What is Philosophy, 2014). thither argon five major basic branches of philosophy. The branches atomic number 18 the metaphysics, epistemology, ethics, aesthetics, and logic.The metaphysics branch is the study of existence. For utilisation, a few questions peerless might ask them self would be PHILOSOPHY 3 what else is out there, why I am here, and what is my purpose in life (Important of Philosophy, 2014). Epistemology branch is the study of knowledge.Individuals like to know as much as realizable to help their selves understand what is going in life and around then. For example, a question maven might ask their selves would be how I know about certain things. In philosophy, knowledge is looked at as existent senses, and not just guesses. People that ar epistemology rather use statements and questions in factual form, such as, dogs are mammals (Important of Philosophy, 2014). Ethic branch is the study of actions. This is the branch of philosophy that helps the decision making in what is office and what is wrong beliefs and values.An example of ethics is your conscious. On one side there is the devil singing you to do the wrong thing, and the angel on the other side say to do the right thing. Many ethical people try to vacate judgment, but have high moral beliefs in specific things. ethical motive also plays a role in religion and faith (Important of Philosophy, 2014). The esthetics branch (also known as politics) is the study of action. This is the branch that shoes what actions are permissible. An example, would be how politics wo rk in the world. What laws should be made, and how they should come to be. government are the ethics that are applied to people based rancid what they are told to do or believe (Important of Philosophy, 2014). Finally, the last branch of philosophy is logic or esthetics. This is the study of art. The main question is what can life be like?This is the branch that allows mankind to see the world in an abstract way. According to Importance of Philosophy (2014) PHILOSOPHY 4 aesthetics is important because it delves into the reason why art has always existed, the burning convey of mankind through the ages to see the world in a different, clear way itfurther evaluates art by the standards of human life, and whether it accomplishes the job of live up to mans intellectual needs, or whether it tends to hurt or sterilise worse those needs (Para. 3).Esthetics is bringing the emotion and idea in concert to make a decision (Important of Philosophy, 2014). Within all the branches there are a rguments, these arguments helps in philosophy to create imaginative thinking and growth. We all have questions, and beliefs to the meaning of life, and we will continue to argue trough ethnic, logic, politics, and beliefs.Each of the five basic philosophy groups have to face basic arguments, Thesearguments are coordinate of arguments, evaluating arguments, types of arguments, and informal fallacies (Chaffee, 2013). The structure of arguments includes reason, reason, and conclusion. Evaluating arguments include truth of reason, validity of structure, and soundness of argument. There are two types of arguments deductive conclusion follows necessarily from premises (reasons), and inducive conclusion supported by premises to some degree. Finally, there are informal fallacies, these are unsound arguments that appeal to emotion and prejudice (Chaffee, 2013).Philosophy and culture interact to develop thought because there are so many different beliefs in the word. Philosophy is love and wisdom, eon in culture there is so much hate. The more than we talk about our beliefs, and talk out the way we each feel it creates creative thinking, and more open minds. For example, scientist see things one PHILOSOPHY 5 way, but when we are more philosophical it shows us that there are more than one answer to each question. Science believes in evolution, religions believe in god, while the rest of us are still trying to find the meaning of life.When it comes to me, I think ethics represents me the most. I believe in right and wrong, and I have faith. I believe that taking actions against wrong in the world is very important. In our culture, there is so much hate, and I am a very big advocate for equality. I controvert for equality for all humans, and I also fight for the rights of animals. Philosophy is the study of ideas about knowledge, truth, the nature, and meaning of life (Philosophy, 2014, para. 1). There are five major basic groups, and there will always be questions to create creative thinking, and open minds.Philosophy hasbeen around from the beginning of time, and will be around until the end of time. We will always want to know the meaning of life and why we exist. PHILOSOPHY 6 References Chaffee, J. (2013). The philosophers way Thinking critically about Profound Ideas (1st Ed,). Pearson Education, INC. Importance of Philosophy. (2014). Retrieved from http//www. importanceofphilosophy. com/FiveBranchesMain. html Philosophy. (2014). Retrieved from http//www. merriam- webster. com/dictionary/philosophy What is Philosophy? (2014). Retrieved from http//www. etsu. edu/cas/philosophy/whatis. aspx.

American Democracy Essay

republic had its origin in Rome, primeval Greece and some(prenominal) South and North America and has gained roots nearly all everyplace the entire world and states become efficient and effective in at that place responsibilities if they utilize this concept. I allow for therefore discuss in this reputation the aspect of democracy in America and the fictional characters of democracy that is govern and validatory types and point out the one used in this clownish specially in California State. I will also proceed to high spot both democratic and undemocratic issues in America.Definition of democracyDemocracy is simply defined as government by the people for the people. fundamentally it illustrates small units of interrelated structures of administration. Research indicates that the primary characteristics of democracy comprise of administrations founded on popular rule, open and just elections, safeguarding political/ sound judgmentated minorities, high opinion of fundament al human privileges/rights, and impartiality before rule of law, and opinionated pluralism. (Anthony, 1957) control DemocracyThis is the consecrate of democracy which provides an opportunity to the citizens of a particular rural area to be involved in decision making process in a flash without depending on legislative bodies who act as there representatives. Many scholars turn over that this kind of democracy is a feeble structure comm however effective by comparatively small societies.This type of democracy is not only about the issue of voting but also includes referendum. According to the research I conducted, California state practices this direct democracy as witnessed done the making of decisions using referendum style, for example in the year 1998 the citizens of California who numbered cardinal million engaged in referendum. (Markoff, 1996)Indirect democracyUnlike direct democracy representatives or intermediaries of the citizens of a state or nation forgather a key role in decision making process. These intermediaries argon usually elected by the citizens and they have the duty to protect the post of the electorate because they have the mandate to do so.This kind of democracy has led to the practice of what is termed as representative democracy whereby the citizens elect administration executives who formulate decisions that will represent the interest of those citizens. Representative democratic administration is a type of indirect parliamentary government whereby such officials or intermediaries are democratically elected and typically complicated to recall them if they do not station their duties as required.This form is usually based on a article of faith called Edmund Burkes which declares that the intermediaries selected should carry their duties based on the sense of what is right and wrong. (Joseph, 1950)Views of various scholars on American democracyThere are many people who convey different views about democracy and include the following Robert A. Dahl who looked at the fundamental suppositions of democratic hypothesis, experiment them in opposition to the enquiries put frontward by it opponents and build the concept of democratic system in to recent and rational whole. Dahl deduces that there are various directions that democratic system has to move if superior autonomous countries are to subsist. (Dahl, 1989)Alexis de Tocqueville also had reflective outcomes regarding the hypothesis of democratic organization. Alexis ideas emphasized on the issue of equality macrocosm an important ingredient to democracy he further argues that without equality detestation cases will rise. He also emphasizes on sovereignty or liberty of states and also points out the importance of public opinion as the new(prenominal) key ingredients to achieving democracy.Another contributor is Jane Mansbridge who believed on democratic process and she apply her political opinions on democracy and equality in America. She argues that equality must(prenominal) prevail in order to achieve justice and only by dint of democratic means that this equality can be realized.Thomas marshall contributed to democracy in America by working to changing the existing laws then to that rules which embraced democracy for example he worked on voting rights among others. He also emphasized the issue of equality and he said that it propelled the country in the direct direction that is being democratic. He also worked inexhaustibly in reinforcing substantive egalitarianism in America by guaranteeing that effervescent method of checks and equilibriums among the three divisions of administration put forward in the American constitution was functioning.On his part Richard Hofstadter proposed that both anti-intellectualism and utilitarianism are outcomes experienced go about on the road to democratization of information or knowledge. Hofstadter preliminary shake up of function of the institution of higher education and the s cholars in the community create into an influential appraisal of the current principle of learning and the position of polite education in America. (Johansen, 1996)

Maslow’s Theory of Personality

Maslows served as one of the intimately influential theorists in his field. He proposed a more simple and appealing theory wchich acted against reductionism and instead proposed a more holistic approach for constitution research. Maslows theory of genius is based on a theory of motivation, characterized by a particular proposition hierarchy of need and an end product of self-actualization which follows after all the involve have been satisfied.The Theory of Motivation, human behavior is influenced by basic need richly. These involve atomic number 18 ordered in a hierarchy which indicates which of these needs is the most urgent and accordingly which has to be satisfied before a high need can be catered to. These needs are (1) physiological needs (2) safety needs (3) belonging needs (4) esteem needs and (5) self-actualization. Consequently, self-actualization, macrocosm the last of the stages is reached when all needs are set up. However, achievement of this state is non fix ed, it is still a process of growing which is forever and a day continuous. Self-actualization signifies that the individual has reached and fulfilled all of his potentials, talents and competencies (Boeree).In line with this, the subject for this topic would be Oprah Winfrey. Oprah Winfrey came from an passing poor family, daughter of a housemaid and a soldier. She lived her childhood in extreme poverty and was often teased by other children overdue to poverty and her racial background. First, her basic physiological needs, were poorly catered to because of extreme poverty. However, her inviolable will and character enabled her to attain her safety, belonging and esteem needs. And her status overcompensate now as one of the most productive women in the ground is a manifestation of a successful self-actualization (A Biography).In self-actualizing an individual, there are three character traits that together shall define a new personality type. First, perception and experienc e is an integral part of molding a person. His sharpness to discover new things and learn new ideas shall contribute largely to the development of his personality and potentials. Another, in self-actualization, an individual must have a extemporary attitude in expressing their thoughts and ideas.He must be natural and must have an attitude of general acceptance towards other people and to himself. And lastly, to fully attain self-actualization, individuals must have a sense of belongingness towards the whole society. They should be able to become friendly and empathic to other peoples feelings and idea and capable of creating harmonious interpersonal relationship to people impertinent his intimate friends.Oprah Winfrey, in her own way had undergone her own self-actualizing process. Her life experiences were manifestations of her successful attainment of her potentials and competencies. First, she was always open to changes, new ideas and experiences. Since her childhood, she had welcomed her potentials and worked hard to develop it. Further, she has always been liberal minded and true to her opinions and thoughts. She was one of the strongest individuals who werent afraid to voice out their opinion. And lastly, her commitment to the community and her developed empathy towards other people equip her to become attached to the community.Thus, personality development is a holistic process. It takes into neb physical, mental and emotional needs. And it encompasses personal growth, and goes beyond growth that is attributed with an individuals ability to reach out to the society in general.ReferencesBoeree, C. George. Abraham Maslow. Retrieved November 8, 2007 from http//webspace.ship.edu/cgboer/maslow.htmlHeylighen, Francis. A Cognitive-Systematic reconstructive memory of Maslows Theory of Self-Actualization. Retrieved November 8, 2007A Biography Oprah Winfrey. Retrieved November 8, 207 from http//oprah.urbanhustler.com/biography/

Thomas Jefferson report card

The Barbara Pirates are a great example as to how Jefferson dealt with problems with turn outside(prenominal) people. The pirates would take crew members from ships and demand payment on behalf of America, after devising the decision to put an end to the payments to the pirates Jefferson sent a naval to penalize them although semi contradicting his devotion to placidity and economy. Later on after in 181 5 Stephen Decatur was sent to the Mediterranean to where a treaty renouncing both raids and premium were signed.Although It wasnt something tout ensemble eliminating the racketeers from being wicked it up to now was a success on behalf of Jefferson he was able to lead the world towarfared a path of unblock seas and placidity for all nations. Jefferson so far was able to fulfill his promises to livelihood peace and friendship with separate nations. The relations between the new united States and European nations were pleasant and the Barbara Pirates had compelled admiratio n for the American flag. Intense admiration should be given to Jefferson for he was able to handle the impressments of American seaman In an appropriate manner.He was able to halt calm and not go to war with Britain even though at that place was a vast amount of rage In the United States towards the situation. quite of going Into something more drastic such as war, Jefferson simply demanded the British to stay out of the U. Gs waters and for an apology. in the end In relation to outside relations, In 1803 war between France and Britain was renewed. As a war t playic each nation attempted to accept their opponents heap using neutral nations such as the United States.Jefferson aphorism this and In an attempt to keep peace between the United States and other nations, there was the ban Act which compress off the United States trade In hopes of getting Britain and Napoleon Into terms. (Embargo Act of 1802) Jefferson was un victorious when It came to the Embargo act neither th e French nor Britain needed the American trade as often as American trade needed them therefore not fashioning a difference when It came to scaring the nations. What this would have done Instead of scaring Napoleon and Britain out of their conflict was, demolish theAmerican commerce which was what It was trying to protect. Jefferson as a president managed to fulfill a lot of his promises made In his Inaugural cope regarding keeping peace and honest friendships with other nations. He was very successful and although he had a failure with the Embargo Act he still attempted to make a change therefore his grade of a B Is accurate due to his successful attempts and failure of the Embargo Act. doubting Thomas Jefferson report card By watermelon United States at peace with nations in Europe during his first term, as wealth and tooth raids and tribute were signed.Although it wasnt something totally eliminating impressments of American seaman in an appropriate manner. He was able to keep calm and not go to war with Britain even though there was a vast amount of anger in the United States towards the situation. Instead of going into something more waters and for an apology. Lastly in relation to foreign relations, in 1803 war Jefferson saw this and in an attempt to keep peace between the United States and other nations, there was the Embargo Act which cut off the United States trade in popes of getting Britain and Napoleon into terms. Embargo Act of 1802).

My Adventure

My Traveling Adventure The wind hummed last(prenominal) my head, and I noticed off to my side that the sky was starting to brighten and that the water surrounding me was becoming a brighter shade of blue. The features of my destination were chop-chop becoming more distinguishable with each(prenominal) second that passed. Only xv minutes before, the features coming into view had appeared as small white dots crosswise the horizon. Looking at my small digital watch, I noticed that the prison term was 345 p. m. , five minutes away from the island of Islesboro. The voyage across Penobscot Bay to Islesboro was one of excitement for me.The excursion to Islesboro started in the coastal townsfolk of Lincolnville, Maine. Waiting in the parking lot of the Lobster Pound Restaurant, I oft saw girlish children frolicking across the sandy Lincolnville Beach off of travel plan 1. The smell of freshly cooked seafood and salty sea air mixed unitedly while I sat on one of the bucolic woody benches along the shore. The Margaret Chase Smith, the Maine State Ferry Services institutionalize that ventured to Islesboro and screening, quickly docked at the end of a long wooden pier strewn with barnacles.The ferry navigated back and forth between eight monstrous black rubber pads gibbousness out from the water until it finally halted. The rusty metal ramp let down onto the deck of the ship as cars started their loud engines, intruding upon the tranquility of the scene. My granddad and I cautiously walked onto the ship after all the outgoing cars had departed. We gave the coincidence our tickets and then watched the cars behind us drive onto the ferry like young children following their grade school teacher.After rushing up the water-coated staircase to the ceremonial deck, I instinctively ran everywhere to one of the large, four-foot windows in the notification room. My grandad approached me and lifted up the heavy glass window. I loved impression the cool sea bree ze rush past me. As a child, I adored scavenger hunts, and the zenith of my voyage was when I rushed up to the ships fire plan document displayed for general viewing above the ships important water fountain. I searched the ship with my grandfather for all of the fire extinguishers, returned to the map to observe if there were any that I ad missed, and then journeyed all over again to find the unnoticed extinguishers. I proceeded to do the same for the manners preservers, life jackets, and even the water hoses. My grandfather, waiting at the front of the observation room, aid me up the stairs to the upper deck by that m, enough time had passed so that the trip was almost complete. The top level of the ship was little active than any other place on the ship. Few throng had the courage to stay on the windy, cold deck above the observation rooms. The only sound on the third level was the rumbling thunder of the electrical motor escaping from the captains chamber.An unpleasant m etal twine bearing the wide CREW ONLY sign guarded the white cabin. I had prepare it to be an ideal location to take panoramic pictures of the surroundings. Focusing on the horizon, one could obtain a perfect picture of nearby Mt. Battie in Camden or the Islesboro lighthouse. It was also an out rest place to grasp the railings and look over the side of the ship, noticing an occasional whitecap or piece of driftwood floating in the overall calm sea. Another of my favorite locations on the ship was standing at the bow of the ferry, clutching in my men the rusty metal chain barricading the exit.From this site, I was able to see everything directly in front of the ship and view the entire Islesboro dock as it rapidly approached. It had been from this location where I spotted a porpoise emerging from the bright blue ocean depths I had also observed an enormous oil tanker voyaging up the bespeak to its port in the town of Searsport, fifteen miles north. The tankers figure loomed like a rain cloud over the horizon in front of the ride as we approached, we were able to identify the major features of its cargo.Nearing the port at Islesboro, I smiled as I looked up at my grandfather. The first landmark I noticed was the Grindle Point Lighthouse. We had made a pledge to each other to see as some Maine lighthouses as possible during our long time together. The green and red Grindle Point Light attracted visitors who could journey up the stairs to the source of the light. Continuing to stand at the bow of the ship, I saw the residents and visitors to the island desiring a ride back to the mainland. The large rubber hands of the dock led the boat into its proper position to unload.The ride over to the island of Islesboro had been exciting for me throughout my life. It was very meaningful to me because it had always been something I enjoyed doing with my grandfather. Of the umteen voyages we had embarked upon, the Islesboro trip epitomized all of the experiences we e njoyed doing together. I have traveled on many boats as I have become older, such as the Bluenose to Nova Scotia and the steamship Authoritys ferry to Nantucket Island, but none have had more of an impact on me than my first ferry ride on the Margaret Chase Smith.

Film Festival Essay

Houston, TX (Mar. 18, 2009) The 2009 WorldFest-Houston proudly presents Food charge as part of its award-winning documentary side bar. Food Fight is a fascinating experience at how American agricultural policy and food production create in the 20th century, igniting a California food movement that sparked a tasty, counter-revolution. The documentary dishes up topics including sustainable produce, farmers markets, school lunch programs and inner-city gardens. Its a savvy, fast-paced investigation that chronicles the life and times of slow foods movement lead up Alice Waters and her landmark restaurant, Chez Panisse, which transformed an industry based on winnings into a market based on wholesome flavor. Food Fight is a riveting, smart romp through the historic rise of the fundamental foods trend.This culinary adventure cooks up a clever insiders status of how the nations plates are forsaking processed filler foods for homegrown, rosy-cheeked produce. Chefs Alice Waters, Wolfg ang Puck and Suzanne Goin are featured. If youre interested in the origins of Americas flavorful farmers market revolution, you can check fall out Food Fight which will screen during the WorldFest-Houston movie theatre Festivals run, April 17-26, at the AMC 30 Dunvale (2949 Dunvale, Houston, TX 77063). Enjoy the newest feature film from food activist and screen director, Chris Taylor, who will be available after the viewing to talk over the films highlightsWorldFest Houston, founded in 1961, is the third oldest free film fiesta in the United States. This annual event has evolved into a competitive Independent International film festival showcasing the rising stars of tomorrow. This years forty-second Annual WorldFest (April 17-26, 2009) will feature 50 award-winning Indie films, degree centigrade superb short films, 450 Indie filmmakers from around the globe, 6 Master Classes/Film industry seminars, 1 Grand Awards Gala & Cocktail Reception with the filmmakers and a shutdown Da y Regatta/Barbecue & VIP NASA/Space Center Houston Tour.Tickets are $6 for a single matinee (films before 6 pm) or $10.00 per single change surface admission and range upward based on packages that customers purchase. Film knock about $100, Silver Screen $150 and ultimate VIP Platinum contact $500. Check www.worldfest.org for details. Tickets will be available mid-March online and up to theatre- capacity at show time at the Cinema Box Office. All films, seminars and events are open to the public. Opening Night Prices $20 per person for Film & chopine book. $30 per person for Film, Program book and Champagne Reception at Renaissance Hotel after the film

Gender And Emotion Essay

Since time immemorial, emotions sustain forever been a funda handstal constituent of human beings. However, non all universe attach or detach the same emotions towards things different people get differently ab disclose alter things and that is why we be all termed as being unique. It is based on this difference in emotions that a vision of debates and researches bring forth been going around in trying to establish whether the emotions we redeem meet the brain or conversely, whether the brain affects the emotions.Other researchers have-on the other hand- been t unmatchable at the caseful of emotions differently by opinionating that it varies from one culture to a nonher, one sexual practice to another or plain differing based on varied contexts. It is therefore important to circumspectly look at all the angles that have been propagated by different people if an inclusive and satisf issueory answer is to be found for the above questions. Many of the studies that have be en conducted by researchers highly put forward that the brain largely determines what we savour about different things.Researches by Norman (2003) support this argument by truism that human attributions for different things give from the brain which in effect dictates human behavior. He further says that man have large brains than other animals and that is why they are able to act more maturely when expressing their emotions. Elder (1996) gives an example by byword that if we feel fear (which is an emotion), then it is based on the fact that we believe (a star sign from the brain) something is threatening to us. According to her, Critical idea precedes and turned on(p) re live up to.However, both of these are equally important and signals them should be treated with equal importance. Waxler (2004) also sentiments that Our thoughts have profound effect on our emotions, and by learning how to hold in our own best interest, we improve our emotional condition. He proceeds an d says that since it is motiveless to review our thoughts and as yet program line them, then it becomes even easier for us to control our emotions and feel things that are appropriate for us. However, this dexterity of the brain to control things has been subject to misuse by some people.Elder (1996) says that As we mature, we learn ternary ways to manipulate others, to influence or control others to get what we want. We even learn how to deceive ourselves as to the egocentrism of our behavior. this is sometimes even interpreted to the extent of faking feelings like, empathy, generosity, kindness when in real sense, we mean the exact opposite. So the next time you see soul acting all nigh, be careful because you whitethorn just and read between the lines you may be happy when all that is being done for you is getting fed on lies. On the other hand, other researches purport that emotions affect how we think.An example is the finals of the 2008 FIFA area cup of where Zinedine Zidane, a renowned footballer of France, head-butted Matterazi (an Italian player) after the Italian allegedly made some abusive remarks to him. Speaking after the Interview, Zidane say that he was overwhelmed by emotions and all he could think of at that grumpy time was t o harm Matterazi. Matsumoto (n. d. ) furthers this argument by saying that It is by controlling their emotions that athletes are capable of maintaining high levels of critical thinking and focus, regardless of what sport they are in. He goes ahead and opinionates that whenever we are emotional, the capacity to think critically is reduced. As a result, athletes who are normally emotional have the tendency of easily losing focus. Tarleton (n. d. ) similarly support this idea by saying that Emotions influence how we perceive and react to life, which in turn, determines how content and/or successful we are. The conceptualization or perception of something-according to them-results from feelings that are harbored in our emotions.So if we are able to control our emotions, then it becomes very easy for someone not to think-and consequently-act irrationally. Elder (1996) reports Golemans assertion that sometimes feelings come to begin with thought. According to Goleman, the emotional mind is far quicker that the rational mind, springing into action without pausing even a moment to consider what it is doing. This is relatively dangerous as one may act in a way that is not appropriate and consequently end in problems. On the other hand, it may come in handy more so in situations where a person is in a dilemma and is lost for choice even needs to act aptly.In addition, there is also a aggroup of researchers who hang in the middle of this debatable subject by saying that both the brain and emotions mutually affect one another. In explaining this dependent relationship, Tarleton. edu (n. d) say that Our thoughts influence how we feel. How we feel influences how we think. These connections are bi- directional and complex. They go ahead and recrudesce this by saying that thinking about something good improves our mood period thinking negatively destroys it.Recent studies by some scholars have fundamentally brought an interestingly fresh dimension to this debate of the brain versus emotions. These scholars argue that gender orientation plays a vital role in how one thinks or feels. In spite of being given overmuch emphasis in the recent times, the issue of gender influencing how a person thinks or feels is not a new concept. Even in the pre-modern times, men and women were expected to think and feel in a specific way based on the stereotypes of that time (Sungur and Tekkaya, 2005).Currently, men are debatably depicted in more or less areas as being fast(a) and dominant while the women being second. Brescoll and Uhlmann (2007) in their wager cite Heilman (2001) and Rudman (1998) articulate that women are should be kinder than men, and they induce negative responses from o thers when they buy the farm to act according to the premeditated ways expected of them. They expound on this concept by writing that men are believed to be strong and should not show weakly emotions like crying just in the same way, women should not show anger.This has however not augured well with most women-especially the elitists and feminists- who see themselves as being able to do better what men can do. To them, both men and women are equal and none should be given a higher status than the other. When using the gender cheek in depicting intelligence or the capacity to think, the same argument used in emotions is used. Men are disputably depicted as having an velocity hand than women. In their defense, they state the numerous organizations that are chaired by them and the legion(predicate) critical positions they hold in the annals of history.Of course this has faced much criticism from the women who consider themselves brighter. However, Pin-pointing who is above the oth er is not our main concern, what stands out to be counted is the fact that both men and women have made priceless contributions in various aspects. In addition, their differences and unique qualities make them blend even better in their various roles and thus being to the overall good for both of them. References Tarleton. (n. d. ). Emotions and learning (Mini-mester). Retrieved May 3rd, 2010, from http//webcache. googleusercontent. com/custom?q=cachem7MMnYFicw8Jwww. tarleton. edu/sanderson/Emotions%2520and%2520Learning(mini-mester). Matsumoto, S. (n. d). Do emotions affect critical thinking? Retrieved May 3rd, 2010, from Retrieved May 3rd, 2010, from http//www. humintell. com/2009/08/do-emotions-affect-critical-thinking/ Waxler, J. (2004) Self-talk How thoughts affect feelings. Retrieved May 3rd, 2010, from http//www. mental-health-survival-guide. com/cognitive-therapy. htm Lmez. A. Y. Sungur, S. Tekkaya, C. (2005). probe students logical thinking abilities the effects of gender a nd grade level.

War and Peace

1310 10/17/12 state of war War is inevitable when disasters exist, just stub some prison terms be avoidable when contradictory over cultural matters. Primarily, it is in mans best concern to provide for himself and his family. Those argon his two biggest priorities. When any kind of disaster occurs, he must first look after himself and his family before ensuring the safety of others. A subtlety works in the same way. Its goal is to carry come forth the way of life of the pile and ensure that it survives. It will fail to touch that goal if the people in the culture arent willing to contend for themselves and what they believe in.If some kind of natural calamity strikes or an out of doors power that is willing to kill moves in and violently forces its confess laws, traditions, and customs, the people must take appropriate actions or face the downfall of their own kind. They must struggle to preserve their customs and traditions, or move to some other place to live. Now if the intruding invader has any concern for the people, but still desires to enforce their laws upon them, non-violence can be used. Non-violence can wholly be an alternative to war if the force they are fleck against is non-violent.Otherwise, it will only suck trampled upon by a violent, oppressive force. In order for a civilization to survive, it must deport an adequate supply of resources for its people. A civilizations supply of resources can easily be depleted by drought, famine, floods, disease and many other natural disasters. When this happens, the civilization must give away a way to solve this problem. If a solution cant be found while staying in the area, they must find other place to live, but that comes with risks. Going out and searching for a refreshing place is very dangerous and many people may die.Another choice the impoverished radical of people might take would be to prove help to a nearby but separate establishment. This puts the struggling sort in the h ands of the healthy one. It is then up to the healthy group to decide if they are going to share their resources or deny it to them. The abnegation of aide will displease the struggling group and they might have to turn to violence to protect their people. This is because no compromise can be made and both groups are looking out for themselves. Humanitys natural instinct o survive is the primary reason why violent wars are inevitable. As I have mentioned before, a civilizations goal is to do anything they can to ensure the prominence and survival of their culture. The Crusades of the middle-ages are a perfect example of acting out on this cultural pride. In 1071, the Catholic Church had previously lost rise to power of the Holy Lands to the Turks. They make a comeback in 1095, at the main(prenominal) series of the Crusades. A lot of conflict and fighting occurred at this time and lasted until 1291.Due to the reason they were fighting, war could have easily been avoidable. The Chr istians and the Muslims werent necessarily fighting for resources, but for the right to own the Holy Lands. The reason both religions cute it was because both had ties to it. Since they werent fighting for resources, they should have been able to share the estate of the realm without bloodshed. Both should have been able to exist with each other without conflict. Non-violence can be an alternative to war, but only if the peoples lives are a factor in the opposing forces power.When the British were controlling their colonies in India, they were imposing taxes and trade. The British were using India for its own stinting benefits. If the British started killing off the Indians, then there wouldnt be anybody to pay them their taxes, not to mention it could start a war uncomplete party could afford or want. Even if the British decided to get violent against the resistance, non-violence would have still been effective. This is because the British would use violence to arrive fear, but at a cost.Since the British economy is dependent on the population of the people, they would actually damage themselves if they were to kill. When people are faced with the options to both fight or die because of competition over resources, they will chose to fight and war will occur. Some wars and conflicts in the past could have been avoided because both parties were intolerant of each other but wanted the same land. In this case, conflict should never have happened, and compromise should have been the solution.

Dhaka Stock Exchange Collapse of 2010â€2011 Essay

peachy of Bangladesh stemma metamorphose ( prevalently known as DSE) is the main stock vary of Bangladesh. It is located in Motijheel at the heart of the Dhaka city. It was incorporated in 1954. Dhaka stock exchange is the first stock exchange of the earth. As of 18 August 2010, the Dhaka communication channel vary had over 750 listed companies with a combined merchandise capitalization of $50.28 billion. 1.1 HistoryFirst incorporated as East Pakistan Stock transform Association Ltd in 28 April 1954 and started form- alone(prenominal) avocation in 1956. It was re titled as East Pakistan Stock Exchange Ltd in 23 June 1962. Again renamed as Dacca Stock Exchange Ltd in 13 May 1964. aft(prenominal) the liberation war in 1971 the trading was discontinued for five course of instructions. In 1976 trading restarted in Bangladesh, on 16 September 1986 DSE was started. The formula for calculating DSE all sh ar legal injury indi force outt was changed according to IFC on 1 No vember 1993. The automated trading was initiated in 10 August 1998 and started on 1 January 2001. Central Depository System was initiated in 24 January 2004. As of November 16, 2009, the benchmark index of the Dhaka Stock Exchange (DSE) crossed 4000 points for the first clock clock, setting another(prenominal) new high at 4148 points. In 2010, the index crossed 8500 points and finally disassembleed in the first shite of 2011. 1.2 FormationDhaka Stock Exchange (DSE) is a public straggleicular(a) phoner. It is formed and managed on a lower floor come with Act 1994, Security and Exchange way Act 1993, Security and Exchange commissioning Regulation 1994, and Security Exchange (Inside Trading) regulation 1994. The issued capital of this company is Tk.500,000 which is divided up to 250 contends each impairment Tk. 2000. No individual or firm sens buy to a greater extent than one shell out. According to stock food grocery store rule only members crapper participate in the floor and can buy percents for himself or his clients. At present it has 238 members. grocery capitalization of the Dhaka Stock Exchange reached near $9 billion in September 2007 and $27.4 billion on declination 9, 2009. 1.3 ManagementThe anxiety and operation of Dhaka Stock Exchange is entrusted on a 25 members climb on of Director. Among them 12 are elected from DSE members, another 12 are selected from contrary trade bodies and relevant organizations. The CEO is the twenty-fifth ex-officio member of the board. The following organizations are topically holding locatings in DSE Board Bangladesh BankICBPresident of Institute of Chartered Accountants of Bangladesh President of Federation of Bangladesh domiciliate of Commerce and Industries President of Metropolitan Chambers of Commerce and Industries Professor of tolerate Department of Dhaka UniversityPresident of DCCI (Dhaka Chamber of Commerce and Industry)1.4 Trading timeThe Dhaka Stock Exchange is open for trading Su nday through Thursday between 1030am 230pm BST, with the exception of holidays declared by the Exchange in advance. In the month of Ramadan, the exchange is open for trading between 1030am 130pm BST. 2. Previous major(ip) pall Stock mart crash in 1996The number of BO account holders in 1996 was only 300,000 and most of them were new in the securities industryplace. At that time it was not unclouded for investors to detect the fake percentages from the genuine ones. Because during the crash of 1996, paper divisions used to be sold in front of DSE.There was no automated trading system, watchfulness was not strong generous, and there were no circuit breakers as well as international protection. From 1991 to the end of 1995, DSE familiar index number terminals gained by 139.3 per cent and reached 834 point.Butin 1996, the commercialise experience a dramatic change and pushed the impairment index up by 337 percent. DSE General Index recorded a high growth from July an d s tood at 3648.7 points on 5th November 1996. Besides, Chittagong Stock Exchange undergo the same change and grew by 258 percent. Chittagong Stock Exchange index change magnitude from 409 to 1157 points in 1996 within a one courses time. But the step namen by the governing body did not work. The index lost over 233 points on November 6, 1996. After the bubble burst, DGEN index dropped to its lowest point and stood at 957 in April 1997. It stood at around the same point, where it was 10 months before and DSE General Price Index lost almost 70 percent from its highest point in November 1996. past the index continued to decrease for the next 7 years until April 2004. During this great period, DGEN Index seldom crossed 1000 point. In short this can be described by using a graphical presentation. go through 1. Scenario of Share wrong index points of Dhaka Stock Exchange3. fuck off of mart crush in 2010-2011The stock commercialise crashed again in 2010-2011. The major causes are as follows- 3.1 allowance account Calls & Il fluidness crisisWhen investors pay a part of future trade contracting by cash or selected instruments in an account with a broker which is called Margin. To make sure obligations of investor when contract expired, to a greater extent Margins is necessary if nurture of the contract decreases. The process is called Margin call. On disconsolate Monday, price movement of future contracts created record amount of Margin calls for firms which were nigh 10 time the average size. Collected payments are paid to investors whose position had gained. Some investors lost their ability to enter new positions receivable to Margin calls and nearly needing to extend credit to make the payment. As investors were unable to pay margins, brokers placed emergency margin calls with exposed options positions which were assumed to be liquidated referable to failure of meeting margin calls. It occurred repeatedly which possibly made interchange press ure in the market and markets were not able to handle these dole out orders.3.2 Program TradingSummit Financial Advisors has stated that many analysts accuse programtrading, especially portfolio insurance as a major basis for the crash. In this trading, computers automatically order large stocks trades when certain market trends prevailed. Analysts goddamn that the program trading blindly sold stocks when prices declined on 19th October.3.3 derivative SecuritiesInvestors not only invested in actual stock market still in any case in index options and futures markets. Option and future market are called derivatives as the value derives collectable to change of stock prices. The Brady Commission which was fit out to examine the apprehensions of the crash found that the failure of stock mar-kets and derivatives markets to operate in sync was an important factor that contri merelyed to the severity of the crash.3.4 Role of market regulators and their employeesThe determination of unsweet to control & supervise capital market, working in raise of manipulators, approving unethical proffer and issuing wrong directives which lead to unannounced market conditions deteriorated the image of moment. investigating work mentioned some names of spoil employees of the market regulators who were directly or indirectly responsible in the market manipulation. There is a concern overlapping between SEC and exchanges. such(prenominal) as, DSE & SEC twain organizations watch surveillance department for the same job but there is no co-ordination. Listing mission of DSE & CSE examines listing performance of company but SEC doesnt do it prudishly and esteem it. Placement of Mutual line of descent & initial offering at a price lower than the market value has become a new rule of bribery for powerful employees of regulators. There is another accusation that these senior train employees received transcription by using others name which is very difficult to i dentify. The repute admits that SEC doesnt start enough employees for example qualified accountant, financial analyst and researcher to control and monitor the market. Rahman & Moazzem (2011) identified in their study that Dhaka stock exchange is meet more(prenominal) volatile but the regulators are unable to defend it. They also suggested change magnitude manpower and quality of professionals in SEC.3.5 Demutualization of ExchangesThere are both elected & nominated members in DSE and CSE. Basically, elected members run the administration due to less interest & relation of nominated members. As a military issue, the players of the capital market act as controllers. Meanwhile, controllers are inactive during unethical activities due to conflict of interest. In the investigating report it was said that different plump for holders of capital market and civil society concord & demand for demutualization of exchanges. The core of Demutualization is separating controlling functi ons from controllers functions, empowering controller and taking decisions without being do by the market players. 3.6 Investment of bank in the capital marketIn 2009 & 10 banks and financial institutions invested huge amount of deposit currency in the stock market. As a result share prices set up rocketed until celestial latitude 2010. When Bangladesh Bank restricted more than 10 percent enthronization of deposited notes, change magnitude CRR and SLR ratio, created liquidity crisis and market crashed.3.7 Pre- initial public offering & IPO process investigating committee considered that due to Pre-IPO & IPO manipulation share prices sky rocketed and that is the main footing for the share market crash. Manipulators extralegally & unethically created a kerb market in Pre-IPO full point. Without recommendation by the listing committee application for IPO was accepted. SEC did not examine unnatural addition revaluation and common mood price. As a result in Pre-IPO or IPO stag e placement process and placement trade Kerb market overvalued share prices. This notwithstandingtually generated liquidity crisis in the capital market.3.8 Uniform face value of shareDuring the meeting between investigation committee and different take chances holders of share market, a most important reason for abnormal climbing of index was indicated to uniform face value of share at Taka 10. rending share does not change revenue or asset of a company and should not affect the share price. But Small investors showed their bound inter-est to buy split share with their small investment and consequently pushed the price up. Up to 62 listed companies split their shares in 2009 & 2010. So, itabnormally increased liquidity of the market and brought notable change in market capitalization. Investigation report shows that MC increased 655% of companies those adopted share uniform and MC increased only 46% of those that did not adopt. From July 2009 to declination 2010 the role of t otal MC were 81.5% of companies which adopted share uniform and only18.5% those that did not adopt.3.9 Placement trade / Kerb marketBefore issuing IPO, Issue manager or Issuer Company sell shares to their nominated person and that is called offstage placement or pre-IPO placement. Private placement is risky because it doesnt grant accounting discloser. In the genuine countries there are some fixed rules but in Bangladesh SEC didnt have proper rules for it. As a result some manipulators used it as a tool of price manipulation. Investigation committee found that in most of the cases placement was offered at less than the IPO price.Though aim of public offering is af evenhandedly of public but placement doesnt make sure it. Eight companies issued redeemable resource share in 2009 & 10 in which average 69% went for placement. So, participation of the public was hindered and that created placement trade or Kerb market. Some companies distributed 50-90 percent of their paid up capit al in snobbish placement. However, when a company raises too much paid up capital through sequestered placement, the number of free-floating shares decreased. Thats why the difference between demand & sum up push share prices up. Moreover, non-listed companies created liquidity crisis as huge investment was stuck up with these companies. Placement created new process of trading outside of the share market and that is illegal. By taking chance of placement many small companies raised capital from illiterate and un-informed investors with their artificial financial reports. 3.10 Omnibus accountInvestigation report found Omnibus accounts of ICB and merchant banks as another major reason behind the stock market debacle. Every branch of merchant bank operates only one omnibus account. There could be 3-10 thousands BO Accounts under the omnibus account which are not under the surveillance of SEC. So, cultivation of individual accounts and its transaction are kept only with merchant b anks. As investigation reportsshows that this kind of account made a lot of illegal legal proceeding. It publishes name of 30 big players including ICB for a lot of laughable transactions and says most manipulators traded from the omnibus accounts. It was also reported at least Taka 2.5 billion has been traded from hidden or omnibus accounts.3.11 Asset revaluation & RumorBy taking chance of weak asset revaluation method companies have overvalued their asset. In this process dishonest auditors generated artificial audit reports. So, calculating of NAV on overvalued asset indicates wrong signal. Some companies issued Bonus shares against unrealized gain of revalued asset price which is a faulty accounting practice. There is rule to take provision against deferred assess during asset revaluation to pay tax in future, but companies are not following it. Investigation reports pointed some companies which got NAV more than 100% to 3,472% after asset revaluation. 3.12 Book building met hodIts a procedure of determining price of IPO at which it is offered. The unclouded price is determined by the demand of a security from institutional investors and their indicative price. The main aim of introducing this method in Bangladesh stock market was to attract more firms for enlisting in the stock exchanges through fair share pricing. However, it was found as an instrument of manipulating market prices. Investigation report reveals that during the price discovery/bidding stage investors manipulated share prices for placement with too high price. High price was maintained only for the lock-in period and then investors offloaded their shares. As a result they pulled out a lot of turn a profit within a short period and after that the share price did not increase. In this process corrupted Issuer and issue manager manipulated the price.3.13 straight and artificial tradingSome manipulators created artificial active trading purlieu among themselves through bulk transaction and increased share prices. Moreover attendant trading and price manipulation by many buy-sell orders through different accounts and broker houses which overheated the market.3.14 Issue of redress and preference shareRight Share is issued at a discount price to existing shareholders. SEC took 4/5 months to take the decision of right issue proposal which is mysterious. Meanwhile companies inform the market just about Right issuance and increased the share price. Moreover, issuance of Right share increase number of share which should decrease share price but it did not hap-pen. Investing in Preference share is safe to get a fixed share of profit. To make the share attractive companies keep an opportunity to convert it and in that case it is called Convertible Preference Share. Companies issued preference share for only 2-3 months even for 1 month which is not common in other countries. The faults with convertible preference share were its time period (short), convertible process and private placement. Investigation committee found that SEC did not have proper guidelines for Right and Preference Share issuance.3.15 Suspicious transaction of whirligig playersInvestigation report reveals some names of individual and institutional investors as top buyers and sellers during abnormal increase and decrease of index in different time periods. The transactions of these investors were suspicious and affected the market heavily and liable for abnormal rise and fall.3.16 Block placementThere was a lot of suspicious block trading of mutual parentages. Some investors got enormous amount of placement time to time.3.17 Direct listingWith the approval of SEC some companies have been directly listed in the stock exchange. These companies come to the market with inflated share prices. Investigation report mentioned that indicative prices of these companies were determined even 58 times more than EPS and 9 times of NAV. Though share prices of these types of directly listed companies have been artificially determined, but SEC or exchanges did not investigate the reason of abnormal price.4. Impact of the crashBangladeshi stock market experienced through inefficient and irrational fluctuation of DGEN Index in the year 1996 and 2011 . During 2010, the bullish market turned bearish with the exchange losing 1,800 points between declination 2010 and January 2011. DGEN Index climbed at point 8918.51 on December 05, 2010 which was overvalued in all aspect. Then the market crashed at point 4877 in November 2011.Figure 3 Daily DGEN index of January, 2011Figure 4 Showing the Movement of DSE General Index from June- 10 to May- 11 Impacts of the crash wereAs a result of the market crash, millions of investors have been rendered bankrupt. Because of free fall of share prices, Investors came out in the highway again and started protesting against free fall of share prices and chanted slogans against market regulators. Random objects the like wood and papers were s et on perk up in front of the DSE office in Motijheel. Investors came out in the street with processions and demonstrated against free fall of Share index in both bourses as well as suspension of trading. Investors from different parts of the country such as, Chittagong, Comilla, Narsingdi, Narayanganj and Jessore brought out processions and clashed with law en-forces in some places as well. Investors beatified the speculators and regulators for the bubble that finally burst. Economy faced liquidity crisis. Authoritites and governing body took steps to handle the crisis. But stock market of Bangladesh had already got the adjective of the whip stock market in the world. And an ongoing market ferment is still going on.5. Measures taken to stabilize the stock marketSince the disassemble of the market in December 2010, a number of initiatives were undertaken by Ministry of finance (MoF), Security and Exchange Commission (SEC), Bangladesh Bank, Government and Dhaka Stock Exchange ( DSE)/ Chittagong Stock Exchange (CSE) to stabilize the market. 5.1 Steps taken by government-The government took a number of measures to inject money in the market. This included Tk. 600 crore outlay of funds distributed to the state-owned banks and Investment Corporation of Bangladesh (ICB), and formation of a mutual fund titled Bangladesh Fund with an initial resource of Tk. 1,500 crore. Under the national compute of FY2011-12, government announced a number of incentives to recover the capital market situation. Some of these were re-introduction of tax rebate facilities, tax-free facilities for mutual funds, time credit for non-bank financial institutions (NBFIs) to adjust their investment in stock market (revised timeline is December 2013), and adjustment of single borrower exposure limit by the commercial banks (revised timeline is December 2013). All these budgetary measures have direct and indirect implications for raising fund for the ailing capital market. A probe committ ee was created by the government to identify the reasons, people and solution regarding the problem of the stock market. The Probe mission and the MOF came up with a list of 36-point measures which were to be implemented in trio phases (i.e. immediate, short and medium-term). 5.2 Steps taken by SEC-Security & Exchange Commissions apply a lot of directives to keep the market under control in 2010. SEC changed directive of margin loan ratio by increasing it from 10.5 to 11 on 13th December and later it was again hiked to 11.5 & 12 because of free fall of share prices. Actions were taken against persons found guilty for their fraudulent activities, investigation of allegations against the SEC officials who indulged in market manipulation, examination of assets of some of the companies alleged to have been involved in illegal trading, and initiation to probe allegations against several companies was also done. Criminal investigation against a number of companies and persons which wa s supposed to be carried out by the Anti-Corruption Commission (ACC) was started but without much visible progress. SEC under its new management has also prepared a 29-point work plan.Of these, eight activities were identified as top urgent, three as urgent, 14 as short term tasks and four as medium term tasks. The MoF on with SEC and other stakeholders prepared the much-hyped Market Rejuvenation Package. This 21-point package focuses on greater participation of banks and other financial institutions in the stock market, besidessetting up a special scheme to provide support to small investors who lost their capital. 5.3 Steps taken by Bangladesh Bank-Bangladesh Bank pushed money into the market as liquidity support. Banks have reportedly kept purchasing shares despite suffering from liquidity crises themselves, and not selling any shares.6. mentality for the futureTo protect the share market of Bangladesh, the regulatory body should take some effective measures. It should introdu ce some monitoring systems to protect the price manipulations of the share. Provisions should be made to provide all the financial information to the investors so that they can get a proper idea about the company. The market should be free from fake certificates. The government should offer income tax rebate on the income of share market and encourage the banks and non banking institutions to come to the market directly. Some incentives package for the investors like getting financing at a low cost has to be offered to bring back the investors in the market. Market stabilization fund must be introduced so that it can overhaul to meet up with crisis situation.Since Bangladesh is heading toward the developing nation, capital market can be the engine of growth for its economy if market becomes structured and efficient. slightly the world well reputed stock markets like New York Stock Exchange, capital of the United Kingdom Stock Exchange, Shanghai Stock Exchange, Tokyo Stock Exchan ge, Australian Securities Exchange, Dubai Stock Exchange and so on, are regulated and running efficiently that provides operative contribution to their individual economy. Because, stock market is knowledge based game rather than a place of gambling there must be rational win-lose situation always. But Bangladeshi stock market experienced through inefficient and irrational fluctuation of DGEN Index in the year 1996 and 2011 which resembles the place of gambling. To sum up, from our study, we have found that, there are problems like Big Gap between the Demand and Supply of stock, extraordinary over pricing of stock, market manipulation, lack of knowledge about the stock market mechanism among the general investors, price distortion, inefficient regulations, political unrest, etc. These caused the steepest down(prenominal) fall of DGEN Index in the financial year 2011.As a result, about millions of investors lost their capital which turned them empty within few months. Security an d Exchange Commission (SEC) ofBangladesh and government should take the short term and long term initiatives to stabilize the market. They should encourage more public special companies to offer more share to meet the current demands. Income tax rebate, jibe of Market Stabilization Fund, Mandatory holding certain percentage of share among the board of directors, short term incentives packages should be introduced to get back the pledge among the existing investors. Regulatory bodies of Bangladesh stock market must educate the current and potential investors about the market mechanism and provide them the accurate information so that investors trade their shares carefully. Unless, appropiate corrective measures are well formulated and implemented, Bangladeshi stock market will be facing this irrational descending(prenominal) again in the near future. 7. ARAMIT from 2010- 2013From the graph we see that, before the crash market price was above tk 450. And in the time of market cras h from December 2010- January11, the price of aramit started to fall and reached tk 436 at the end of January 2011. After that the market fluctuated and hit its lowest of tk 192.6 on february 2012. The current market price as of 24th February,2013 is tk 216.Profit StatusBased on Annualized EPS of 2012 (Q3)Basic accredited Price Earning Ratio (P/E)(Based on Continuing operation)12.65Based on audited EPS of 2011 online Price Earning Ratio (P/E)(Based on Continuing Operation)15.15Reference 1. http//www.cpd.org.bd/pub_attach/WP95.pdf2. http//publications.theseus.fi/bitstream/handle/10024/47195/saha_sangit.pdf? time=1 3. http//www.dsebd.org/displayCompany.php?name=ARAMIT4. http//en.wikipedia.org/wiki/2011_Bangladesh_share_market_scam 5. http//en.wikipedia.org/wiki/Dhaka_Stock_Exchange6. http//www.similarsites.com/goto/bdstock.com?pos=2&s=10

Pharmocology

The exact mechanism of action of ingloriousness is unacknowledged however it is known to researchers and medical professionals that ingloriousness suppress the immune response of Re- ostracise pats. To Re- positive red gunstock cells as well as reestablishing prescript importunately pathways (Apostate). Side Effects of MOA Octagon and Privilege both have relentless box warnings however this black box warning does not defend to all Ingloriousness.The black box warning consists of increased bump of lancinating renal dysfunction/failure as well as thrombosis. The gamble of thrombosis is increased in patients over the age of 65 years old, drawn-out manipulation, etcetera (Apostate). Other serious side effects include hypersensitivity, nonphysical, rather multiform, hyperinflation, hypersensitivity, aseptic meningitis, psychotherapeutic, viral transmission risk, and hemolytic anemia Teaching It Is uncouth for the patient to experience headache, cough, (Apostate). Cause and vomiting, rash, Uralic, fever, rigors, flushing, back pain, fatigue, chest tightness, muscle cramps, and ideal BUN Cry elevated lab values (Apostate). It is important to terrific your doctor of any allergy before beginning to shine these medications. Do not get any type of immunization while pickings ingloriousness without getting an okay from your doctor (Monoclinic). Administration Consideration (Special timing, take with/without food, etc. ) It is important to take this medication on a very fix schedule as well as making sure to take the medication with food.There Is a serious risk of nonphysical with these medications so the impressiveness of telling your doctors your allergies is very great (Monoclinic). Drug/Drug Interactions Major proportioning or so concerning) Consult your doctor if you be on any medications for heart problems, blood clotting, or atherosclerosis as ingloriousness place cause an increased risk for blood clotting and a higher risk when these other types of medications atomic number 18 Involved (Monoclonal).Taking other immune globulins at the time of administration can cause a very serious side effect of over-the-counter(prenominal) (Apostate). Required Labs Numerous ingloriousness labs must be completed to determine which embarrassing within the body has quit working. (Gig, leg, LCD, IGMP, and Gig). Doctors use these tests to determine what type of regaining disease the patient is suffering from by seeing which mucilaginous levels are increased or decreased from the normal lab values (Kids Health).

Comlaw Aropa Assignment Essay

Question 1Offer is an expression of impulsiveness to enter into a heavyly binding ask on the price proposed once the purpose is true. This letter is an allow for since the terms proposed are complete and it is communication to the offeree. The letter was definitely sent to Andrew by mistake since the company makes this offer only to their regular customers and to those who have sign long term supply contract. Andrew did not satisfy both these conditions. match to the case of McMahon v Gilberd & Co, the reward for each returned soft drink store is made to their customer only. Technically, the bottle dealer is not their customer and then the case was in sound. In conclusion, although Andrew replied to the offer before the deadline, the company has no legal compact to supply Andrew.Question 2In this situation, Sarah has met the term of the offer as she has expressed willingness to enter into a legally binding contract. The resolve from Sarah shows that she agreed to accept the offer for 300 tonnes. Her request to collect the fertilizers in early October is merely a request for information since she is willing to collapse for the delay. It is not a return offer by Sarah as she is willing to collect the fertilizers if the company does not agree to her request. Therefore, the offer is still valid as she was only requesting for more information. Similarly, in the case of Stevenson v McLean, the plaintiffs telecommunicate was only a request for information and is not a counter offer. Thus, the offeror has legal obligation to sell to the plaintiff since he has accepted the offer via post. The telecommunicate sent by the company to Sarah on 21 July to revoke the offer is invalid because she has already accepted the offer. Revocation of offer can only be done before the communication of credenza by the offeree. The method of reply used by Sarah through email is valid as long as it is not less beneficial to the offeror although the offer was sent via pos t. In conclusion, the company has the legal obligation to supply fertilizers to Sarah since her acceptance of offer is valid.

Crisis and Risk Management for Business Continuity: The Case of Northern Rock

a) Research paradox The global economic crisis has topped the much discussions in the production line world today. The current credit munch is non only being felt in the United States where the actual problem started but in the United Kingdom as well, with much companies ghost the pinch by the day. It is a pity that m both jobes begin been state hoperupt following(a) the shock experienced from the crisis. It is however nonable that the charge up is partly on their view. The reason for this is that m each businesses today gain non b some othered to gravel up with crisis and ventureiness focusing images to shield their businesses from such(prenominal)(prenominal) shocks.They operate based on the current situations and fee little assistance to disasters that ar likely to affect the business and how these effect fecal matter be minimized. Even where attempts yield been do, crisis and bump worry ends do not to the full dish out all the potential gambles that atomic number 18 likely to face the community. other issue is that whenever the said crises devolve, these stick outs ar not properly educate bulge out so that they often end up doing little to save the situation. These characteristics perfectly fit the circumstances surrounding the runniness crisis at northern disceptation between 2007 and 2008. blue flutter is a British coast that is forthwith under national ownership following a government bailout in 2008. The imprecate which started off as a building society became a fix in 1997 when its sh bes were offered in the London Stock Exchange. As of folk 2008, the rely which is ranked as one of the top owe lenders in the UK engaged 4500 employees. Until 2007, Yankee shake was doing well and was considered one of the fastest exploitation tills in the UK at least based on its as sit base. The on-going economic crisis however sent the brim giant reeling as beachs tightened their lend evaluate.As if thi s was not enough, musical accompaniment from turned bonds and the securitisation model which do up 75 per centum of Yankee didders funds started deteriorating and exitually these marts closed at the same succession following the economic crisis. What followed was crisis after crisis as the marge threatened to go down. On September 2007, the Yankee fluctuate approached the Bank of England to request for a liquidity support facility to contain roughly of the problems it was facing following the credit c feedch. This ca utilize a bank run as customers rushed to bureauulate their savings.The bank was overwhelmed and intervention by the state was necessary to save the bank giant. The UK fiscal Investment Limited now manages the bank at fortification length for the government which was take a crapn into government ownership in February 2008. blue tilts inability to deal with the crisis has been blamed on poor risk and crisis heed. b) exculpation of the news report Th e near collapse of Northern excite is a perk up up call to every business that intends to survive past any kind of crisis.Business Management Study GuideThe misfortunes encountered by Northern joggle and the consequences of these should be a practiced lesson for other companies to call for from through the carrying into action of risk and crisis management. The challenge however unagitated remains and unless the issue is spring up to by giving managers a train, another caller-up could still go the Northern disputation personal manner. This study will address this challenge efficaciously by revealing all that a manager ask to eff nearly crisis and risk management for business continuity. Three issues are at hand with each of them carrying substantial weight. Firstly, only a few companies admit crisis and risk management.Secondly, the few of those who commence taken the initiative make up not given it adequate attention. Thirdly, when the actual crisis occurs, sla ying of the go by plan is not normally adhered to so that the essence of the plan is in detail dissolved. opposite companies just like Northern rock n roll are continuously at risk of disasters and whence the knowledge approximately how to deal with them is preferably invaluable. The seek which mainly aims at uncovering the dangers of not having a crisis management plan and how having one could save the companys future and form a useful guide to business managers.c) Objectives of the study. In order to ensure that this research addressed the higher up problems composition maintaining the scope of the study, the following objectives were used to guide the research. To establish whether Northern list had any crisis and risk management plans in place. To identify the brilliance of crisis and risk management plans. To show how Northern Rock could have survived the crisis exploitation crisis and risk management planning. Literature Review a) The Case of Northern Rock In the second half of the 2007, Northern Rock became the first bank in the UK to experience a bank run since 1866 ( splutter, 2008 2).World lenders equilibrize sheets were already shrinking so that banks had cringed their add and interest rates were going up following the credit crunch (Llewellyn, 2008 35-36). The credit crunch originated from the U. S sub-prime owes that led to a shortage in money available to banks for lending. The banks over-reliance on securitisation and covered bonds is considered the study grounds of the of Northern Rocks downfall (Tevin, 2008 13). Securitisation is used to refer to the kind of funding where mortgages are used as protective covering to obtain loans from other banks (Shin, 2008 6).Being a prominent mortgage lender, the bank had quite a substantial amount of security. The mortgages were likewise used to ripe covered bonds which were a constant source of pay for the bank. These two types of markets made up 75 percent of the banks source o f finance and therefore when they collapsed at the same time, the banks gold in hand were threatened (capital of Seychelles, 2006 2). On the other hand, banks were shrinking their lending rates and therefore the bank could not give to pay up its dues and reserve its mortgage lending.An innovation unique to the bank is besides associated with the downfall. Northern used model that they referred to as originate to distribute in which they could take loans and then sell them to other investors before they matured such that they obtained superfluous funds and the liability of the loans was transferred to the investors (Tevin, 2008 15). As a result of the credit crisis, the bank could not sustain its financial needs and consequently could not tinct market demand. North Rocks method of funding is described by Shin (2008 8) as an unusual business model.While banks are expected to have customer deposits as their major liabilities, Northern Rock operated on securitised loans which the y offered as mortgages to their customers. Long-term loans which they repaid using the payments paid by mortgage beneficiaries were used to pay -up the loans (Llewellyn, 2008 37-38). The mortgages were as well used as security for additional loans. Deposits only accounted for 23 percent of the pay held by the bank (Tevin, 2008 14). Given that banks heavily rely on deposits as their major assets and source of financing, the amount available was bound when loans could not provide for the require amounts.Attempts to sell off the bank were foiled because no investor wanted to risk victorious up an endangered bank (Adams, 2008 1). The bank obtained the government bailout from the Bank of England in form of emergency funding (Adams, 2008 1 Laughton, 2008 1). This was done in the knowledge that collapse of Northern Rock could cause a major shake-up in the banking industry (Laughton, 2007 1). The intelligence operation on Northern Rocks bailout caused a bank run and depositors rushe d to ask out their money. At the same time, the share prices fell by 31 percent (Lastra, 168).b) Crisis and Risk Management. Crisis and risk management is a commonly ignored crook of the management but which asshole play a signifi supportt government agency in determining the destiny of a company. Reliable studies reveal that close to organisations do not take crisis and risk management seriously such that they do not put aside plans symboliset to counter unexpected crises (Robert and Lajtha, 2002 184). check to McConnell and Drennan (2006 62), the reason for this is that the probability of occurrent of crises is low within most business environments such that managers find no reason to use the companys resources to invest in countering risks that may never happen anyway.This notion is however wrong because no organisation is immune to crises and risks in the course of its operations. Yemen (2001 65) notes that crises and disasters carry no admonishment and consequently al ways catch businesses unaware. Before they can react to the crisis by getting effective solutions, the damage is already done and chances of survival are highly minimized (McConnel and Dreannan, 2006 60). For this reason, it is inevitable for every company to consider crisis and risk management in their strategic plan.Salter (1997 60) defines crisis and risk management as the act of coming up with policies and procedures to be used to identify, analyse, treat and superintend risk. It is a guide on how to deal with crises and risks should they occur and how to see from their effects (Pingeone, 2006 37). The procedure of risk management involves the identification of areas where the company look fors that things may go wrong (Lee et al, 2007 335). This could fall in any department of the organization. While many may be general, some risks are more than likely to occur in one company than in another depending on their operations (Robert and Lajtha, 2002 184)Crises and risks are al ways occurring in the business management and it is hard to call in what will happen the following day. While risks are used to defend threats or possibilities of an occurrence of misfortunes, the term crisis is used when the actual misfortune in reality occurs (Lagadec 1997 28 Shrivatsava, 1988 284). Physical disasters such as fires, terrorist attacks, phishing attacks, floods among other disasters are among the major kinds of crises. These should however not form the sole focus of the company because they the business is bound to face many external and economic forces that could influence its performance.For example, relying on one source for allow for of materials could lead to a crisis if this supplier can no longer make the supplies to the company (Pingeone, 2006 100). It is therefore essential that a company makes such a consideration when determining the future of the business. This is genuinely what happened to Northern Rock who had relied on securitisation and long-ter m loans as their source of finance so that when banks could not lend as much as they demanded, they were odd desperate with no other major source and hence had to turn to the government for tending. ) Crisis and Risk Management broadcast Crisis and risk management plans help to lay down the steps to be taken in the dismantlet of a crisis and in keeping the various risks that a company is loose to at bay. In coming up with a crisis and risk management plan, the company ought to identify any accomplishable risks that it is likely to suffer in the course of its operations (Alderman, 2008 149 McMillan, 2006 89). These risks are then assessed so as to come up with plausible ways of addressing them whenever they initiate. This is known as making plans for post crisis actions (Alexander, 169-171).Crisis and risk management plans ensure that every employee participates in the companys safety precautions while ensuring that risks and crises are handled in the right manner. Designing th e Crisis and Risk Management Plan It is notable that most companies have not yet put a risk and crisis management plan in place (Carmeli and Schaubroeck 2008 182). This by and large stems from the fact that managers try to be optimistic hoping that no disaster will occur. In other circumstances, they only wish to eliminate the unnecessary expense on something that might never happen.There are however those who are simply ignorant and do not know how to go about implementing a plan. Further still, erstwhile the crisis and risk management plan is put in place, its implementation is often a challenge when the actual risk occurs. This is brought about by the panic that often characterises a crisis. Pingeone (2006 99) notes that the management plan should be followed to the letter unless the situation calls for modification. He adds that the plan should act as a guide and it is for this reason that it is prepared.If properly followed while trying to adjust genuine elements to fit the situation, it should be easy to solve the crisis than when there is no plan at all. The challenge of coming up with an effective plan is also cited as a problem given that response and recovery is generally influenced by the kind of crisis and risk management plan that the company has in place. To curb this problem, Smith (2001 64-65), Fink (1986 36-39), Gottschalk (200296) and Mitroff (2001 29-35) give the following key elements that are desired for a risk and crisis management plan to be effective. furnish for continuous identification, evaluation and management of risk should be put in place. This is because the company is bound to face new challenges everyday and in the agitate of globalisation, new economic and social risks and challenges keep cropping up (Mitroff, 2001 33). ? Constant surveil of the effectiveness of the plan is necessary to ensure that all the desired aspects are addressed. Analysing the system of internal control which is part of the risk and crisis contro l per year can help the company to identify whether the plan is arrive ating as desired. For all crisis and risk management plans, the systems developed should rhyme with the organisational culture so that collisions do not occur. ? The crisis and risk management plan must be flexible and one that can effectively respond to evolving risks. A good crisis and risk management plan offers flexibility such that change in policy and new company strategy may be use in order to deal with the crisis at hand (Smith, 2001 65). ? The plan should set proper reporting procedures to be followed in the event of occurrence of an incident.On top of that, a procedure for reporting losers in the plan should be well laid out. ? The crisis and risk management plan should provide for readiness to all members of staff so that they are aware of the roles to take in the event of a disaster, the reporting procedures and any other relevant randomness contained in the plan. Research Design and Method Intr oduction This portion of the study establishes the ability of the company to satisfy the set objectives. It shows the design of procedures used in the study and outlines the major limitations involved during the study.Research scope The previously set objectives aim at establishing whether there was a crisis and risk management plan at Northern Rock and what could have been done better to just contain the crisis. The study is therefore limited to Northern Rock and to crisis and risk management as a management strategy. The liquidity crisis at Northern Rock forms the basis of the study. Data and info show The data collection process was applied in such a way that its expertness could be gauged by the results obtained from the study.In doing so, primary and secondary data were employed in the entire study process. a) Primary data This formed an pregnant part of the research as it helped in obtaining factual information from pose respondents. The use of written questionnaires and vocal interviews to obtain information from the respondents was used. The data obtained was assimilated during the epitome of the study. Respondents were notified prior to their interviews so as to ensure that the information was more accurate. b) junior-grade data The use of secondary data was invaluable in the study.This is in recognition that any research must corporate other peoples work as a precedent to the study. The use of journals, books, articles and other critical works were highly used to obtain the theory surrounding the study. The literature check out practically involved the reviewing other peoples work so that secondary data was of great importance. Sample selection, technique, and size The study sample incorporated a few present and former company officials as well as economic analysts who studied the Northern Rock liquidity crisis.Strategic take in system was used to identify the officials and individuals to be interviewed during the period of study. A re sume of twenty five respondents were sent questionnaires and eight agreed to perform an oral interview. Eighteen questionnaires were returned and observations and responses were assimilated for the purpose of the study. Ethics of the research methodology At the ascendant of the study, the research set an objective of reducing respondents compromise as far-off as affirmable. In order to satisfy this, respondents were not required to attend specific names within the company.For privacy purposes, respondents names were not required in the questionnaires. This served to raise the secretity levels as a factor in conducting scholarly research. Limitations of the study Even though this methodology played a life-sustaining role in satisfying the set objectives, various limitations faced the researcher. Without these limitations, more information would have been obtained to further improve the study. Among the major constraints was the high level of expenses. These included questionnair e printing and posting costs as well as travelling costs to meet the respondents.The problem of incomplete questionnaires was prevalent mostly due to the highly complex human nature so that some of the staff members could have been worried about giving information they considered confidential due to fears of victimization. This could have contributed to errors in the information obtained. The time element was also limiting which did not enable maximum amount of data as would have been desired. Analysis and Findings Most of the respondents in the study ascertained that Northern Rock was lucky and were it not for the government bailout the bank would have land into bankruptcy.Unavailability of credit which was actually the banks major source of finance was an infinite blow to the bank whose reputation had made it the fastest growing mortgage lender in the UK. The situation was made worse by the bank run which was in essence caused by the media portrayal of the crisis (Victoria, 2008 117-119). Nelkin (1998 347-348) notes that the media could highly influence how a crisis affects the company due to messages and speculations made. As soon as the bank sought help from the Bank of England, word went round through the media and the public went into panic following the collapse of the bank.The result was huge amounts of withdrawals which highly overwhelmed the banks finances (Shin, 2008 6). Northern Rock therefore sunk into losses and could barely afford to sustain the payment of loans. Analysts involved in the study suggested that the bank run could have been avoided had the banks management taken Northern Rocks crisis management plan In an effort to keep focus on the research scope, only the subsection of the crisis and risk management plan associated with the liquidity crisis was analysed.For each point famous, a note on how the situation could have been handled better is provided. Northern Rock management had given a thought to the possibility of reduction of ma rket at home and shortage of funds from local banks. To help slue this possibility, the bank had diversified its operations to other countries like Canada, United States, Europe, Australia and off the beaten track(predicate) East (Tevin, 2008 21-22). This was considered to be a substantial backup for any eventualities in the domestic market. The company had also secured its liquidity through insurance to cover for any shortages.In their plan however, they had not anticipated a crisis that would cause the collapse of their major sources of funds at the same time. It would have been impossible that the source of finance that seemed so reliable would collapse leaving the bank destitute. Even Dr Ridley the banks chairman had noted that the bank had not though at one time that its sources of finance could collapse at the same time (Llewellyn, 2008 49). This just goes on to show that crises are not easily sure and that routine can be deceiving.The fact that Northern Rocks long-term so urces of finances were always available to them due to the high amount of mortgage securities close ruled out the possibility of running out of finances. The Northern Rock crisis management can be said to have been inadequate. The reasoning arse this is that should it have been adequate, the liquidity crisis may have been avoided or subsidised. As noted by Regester et al (2005 196-198), a good plan must mean the guidelines to be followed in the event of a crisis. Further, Northern Rocks management failed to predict which is one of the objectives of the banks risk management plan.Varma (2008 1) notes that banks should be able to use cash flow projections to anticipate future fluctuations in demand for their customers. Using these projections, they can easily determine whether a liquidity problem is likely to arise due to increased demand or whether inventory will fortune up as a result of reduced demand. It is also possible to gauge from the rise in interest rates offered by bank s and other security traders. Such information could have proved vital to the management and this could have been used to limit mortgage lending and hence reduce the impact of the crisis.As noted by Tevin (2008 17), the bank did not even have adequate liquidity insurance, a lesson which the England Governor noted could have been learnt from Countrywide, a US bank that suffered the same crisis that Northern Rock was facing. amends cover serves in ensuring that the companys assets are protected. This ensures that whenever assets that the company has insured against are muzzy in the event of a crisis, compensation can protect it from committing more resources in replacing the asset (Alderman, 2008 204).With such knowledge the bank could have obtained enough liquidity insurance as security for the future. They could also have provided for plans to cope with a credit crisis should they get into the same position with Countrywide. This way, it could have been ready and encountered the c risis more boldly without having to seek government bailout. Northern Rock over-relied on one source of finance so that when it collapsed the effect was quite staggering. The theory of crisis management warns against relying on one source of supply because its failure could have detrimental effects on the company (Coombs, 1999 114-115).Northern Rock had been relying heavily on loans gained from mortgage securities to finance their clients mortgage needs and when they could not afford to meet the demand following the reduced liquidity levels, they had nowhere to turn to (Congdon, 2009 11). Banks which were willing to lend proved too expensive for the bank to afford and still continue to operate comfortably. The whole problem arose because once these sources of finance collapsed there was no other source of finance lead story to the liquidity crisis.It is a major observation that companies rarely think about the possibility of a time when a certain source of supply will not be availa ble to them because as long as they are concerned they have always relied on the source (Wiley, 2006 85). Northern Rock should have diversified more as a way to maintain the flow of funds. For example, they could have used more deposits instead of relying on loans only. Tevin (2008 14) notes that only 23 percent of their liquidity was in the form of deposits which Victoria (2008 119) notes to be the major sources of bank liabilities.By focusing on loans, they alienated their major source of money supply when the credit crunch set in. The management did not act swiftly to respond to rumours about liquidity shortages. According to Tevin (2008 24) the bank had received pattern signs about a possible shortage in credit as a result of the current economic crisis. The Financial Stability Report that the Bank of England released in April 2008 suggested that sell funding which was on the rise in the market could pose unpredictable danger to liquidity (Llewellyn, 2008 51).Analysts had a lso predicted the same. Instead of analysing the possible risk and taking measures, Northern Rock continued with the expansionary lending policy (Tevin, 2008 24). Mortgages continued to be issued yet there was a possibility of being unable to sustain the demand following the credit shortage. If the management had acted wisely, it could have limited the mortgage lending so as to save the finances available until a favourable time came. Its ability to detect the possibility of such an occurrence was limited hence the reason why the company was caught unawares.The crisis and risk management plan was not also well utilized when the bank cognise its plight. Referring to the liquidity crisis, Northern Rock CEO maintained that the prediction made by the bank about its source of finances had been wrong in assuming that the mortgage assets would maintain the banks liquidity. The company has made an attempt to recover from the crisis using the government assistance issued and change in strat egy. This is part of a crisis management plan which requires that a company take the necessary measures to even off a crisis.As noted by Smith (2000, 65), Northern Rock had to change strategy so as to better manage the crisis. Their together loans for example were withdrawn. These loans were an incentive to first time buyers and involved combining a secured and unsecured loan to obtain finance (Tevin, 2008 26). The bank however could not manage to offer these loans given their financial constraints and had to withdraw them. The bank is still recovering and depositors have started gaining trust in the bank again more so because the government ownership provides a substantial level of financial security.Conclusions and Recommendations After an analysis of the field of Northern Rock and the importance of crisis and risk management, it would be true to say that the companys crisis and risk management plan was not properly implemented during the liquidity crisis. The plan was also ina dequate to address the seriousness of the problem given that the company had never anticipated a risk of such magnitude. It is also true that every company needs to have a crisis and risk management plan to help in coping with disasters and incidents if they occur.It can therefore be concluded that having a crisis and risk management plan cannot be useful if it is not well implemented. This is as in the crusade of Northern Rock which did not react to the warning signs of the impending danger of a liquidity crisis through finding secondary sources of funds or through reducing its lending capacity. Northern Rock suffered a great deal from the liquidity crisis due to poor implementation of crisis and risk management. The plan was also inadequate and insurance cover taken could not compensate for the loss incurred.What matters however is not what has been lost in the past but what can be saved in future. As Lagadec 1997 28 Shrivatsava (1988 284) suggest, a crisis should act as a learn ing prospect for a company to make changes and improvements. The bank needs to focus on building more solid and workable plans to contain such crises as they could happen again in the future. The plan should be made by incorporating all the various aspects of a good crisis and risk plan indicated in this study.This means that the plan to be implemented should focus on constant examination of possible risks and designing of proper measures to counter them. There should also be plans set to address crises in the event that they arise as well as plans to recover after a crisis. This does not mean that the bank should exhaust all its resources on liquidity problems alone. There are other crises and risks which could also face the company and there is need to incorporate them in their crisis and risk management plan as well.The Northern Rock saga is a vital lesson that every growing company must learn from. While risks and crises could be few and far between, the need to account for the m in the company strategy is invaluable. This is because there is no way of predicting the future. This should avoid a situation in which the company has to close down because they do not have any finances to cater for the losses incurred during the crisis. Every company should maintain a crisis and risk management plan that helps to shield it from any eventualities that may occur in the course of its operations.There are several(prenominal) lessons that have been learnt from the Northern Rock case study and which other companies can benefit from through the following recommendations. Firstly, disaster may strike at any time hence the need to come up with a plan to deal with risks and crises. It is also notable that some disasters can be predicted so that precautionary measures taken to reduce the shock on the company. To intensify this, constant review of the risks that the company is susceptible to should be done.Secondly, reliance on a single supply could pose danger to the comp any hence the need to diversify operations or plan for alternatives in case the current sources fail. Finally, having no plan could lead to desperate actions on the side of the company. If the company is not lucky, it could end up closing down. In the case of Northern Rock, there were attempts to sell it and then the government bailout. The bailout means that the company is now under government control and no longer in private hands which could highly impact on the company ratiocination processes and operations.