Interpersonal Communications Assignment - 1972 Words

Assignment 1 Task 1: Developing ICT skills – Discussion forum post and evaluation I submitted the following two posts to the BESC1011 discussion forum for Activity 2: (N.B. I have edited the post for typographical errors). Post 1. Activity 2 finding ACAP s online resources Monday, 24 September 2012, 03:56 PM Well, I ve just had a pleasant afternoon finding my way around the maze that s called Myacap. Wow. I ve found I ve ended up with a myriad of browser pages open, and got lost thinking I was finding things. I did find it, I m sure I found it... Now where was it Anyway, I ll get there, I’m sure, and so will you. The Grail? Not yet, but I m sure it s in there somewhere. Incidentally, folks, if you re having†¦show more content†¦Study Timetable 15-21 Oct |[pic] |Monday |Tuesday |Wednesday |Thursday |Friday |Saturday |Sunday | |8-9am |On site |On site |On site |On site |On site |Weekly Market |Relaxation time | | | | | | | |Shopping | | | | | | | | |[pic] | | | | | | | | |[pic] | | | | | | | | |[pic] | | |9-10am |On site |On site |On site |On site |On site | | | |10-11am |On site |On site |On site |On site |On site | |Show MoreRelatedUnit 7 Assignment Interpersonal Communication Kaplan University864 Words   |  4 PagesUnit 7 assignment Claudia Garcia From the interaction, does it seem to you that Alan is actively listening? Why or why not? From the interaction, it is obvious that Alan is not actively listening. First, he is not being mindful. According to Wood (2010), â€Å"mindfulness is being fully present in the moment†. In the interviews, Alan looks anxious to finish and seems to have many thing in his mind that do not allow him to be completely present. Second, he is not being person-centered (Wood, 2010). ForRead MoreThe Five Contexts Of Communication809 Words   |  4 PagesBus English 1103 Written Assignment – Unit 1 Within Chapter 1 the five contexts of communication have been described and the knowledge provided not only gives us more insight as to how important our communication is, but how to effectively use it. Now it is our turn to relate these contexts to our everyday lives. It is not difficult to see that we are actively participating in different types of communication every single day. While we may not always be fully aware of these contexts, or the wayRead MoreThe purpose of this paper is not to teach you, or to show you how interpersonal communication is1500 Words   |  6 Pagespurpose of this paper is not to teach you, or to show you how interpersonal communication is essential to everyday life at home or work. But, I am going to do my best to at least show you how essential communication skills are in all areas of life by using me as the example. My plan is to focus on some of the elements of interpersonal communication that we have been touching on this semester. While reading our Interpersonal Communications Book, three goals kept being highlighted that I personallyRead MoreInterpersonal Communication And The Workplace946 Words   |  4 PagesInterpersonal communication in the workplace is developed positively or negatively on the individual relationships we have combined with our human behaviors and human actions within each of those relationships. 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His response was â€Å"After a year of applyingRead MoreInterpersonal Improvement664 Words   |  3 PagesM1A3 Goals Identification and Reality Assessment Worksheet 1. Describe a goal for interpersonal improvement in your personal life. Be sure to explain the following: * What aspects of your own interpersonal communication skills would you like to improve? * How far are you from attaining this goal? * Do you think this goal is set too high or too low? Why, or why not? * How long will it take me to attain this goal? * If the goal will take a long time to attain, couldRead MoreI Am About Hamilton : An American Musical And Its Impact On Society1283 Words   |  6 PagesSchool of Communication at Illinois State University, I felt the pressure to do well in my first communications class. However, with the help of my teacher, support and praise of fellow students, and my own hard work, I have made several improvements since the beginning of the semester such as verbal delivery, eye contact, and interpersonal communication skills. Verbal delivery was a skill I was hoping to improve on at the beginning of the semester as I mentioned in my Communication ImprovementRead MoreReflection About Group Presentations1189 Words   |  5 Pagesterm paper. It can balance the student s educational experiences by providing training in oral communication, interpersonal skills, and analytical thinking.† (King 1990, p.77). Therefore, it is necessary for us to reflect on what we have done and learnt through group presentations. In this essay, I would have a look back at what I experienced and learnt from the BCM110 group assignment. Our assignment was to work together and do research on a media issue that we studied in the lectures. After four

Historical Figures Of The French Revolution - 890 Words

One can learn an ample amount about historical figures through the written works of historians; however, in order to truly understand historical events one must analyze a primary source on their related topic. This is the same for Guillaume-Chretien de Lamoignon de Malesherbes, who was an influential lawyer during the French Revolution. One primary document that explores in depth the experiences of Malesherbes is The Life of Lamoignon Malesherbes written by Edward Mangin and Jean Delisle de Sales. Published in 1814, this document can be trusted as an accurate analysis of Malesherbes’s life as it was published only 20 years after his death. Also to further support this claim both Sales (1741-1816) and Mangin (1772-1852) were alive during the time of Malesherbes. Sales was an established French polygraph and philosopher who is most notably known for The Philosophy of Nature: Treatise on Human Moral Nature, and by 1794 he began to pity for royalists and as a result was arres ted for publishing anti-revolutionary work. While Mangin was not as well known as Sales, he held a college degree and published a wide range of credited works. The purpose of this biography was to portray the true life of Malesherbes, which may have been tainted by being sentenced to the guillotine in 1794. While The Life of Lamoignon Malesherbes covers a wide array of events throughout his life, one can indirectly learn that Malesherbes was much more than another victim of the reign of terror, but aShow MoreRelatedAnalysis Of Olympe De Gouges Declaration Of The Rights Of Woman1595 Words   |  7 Pagestime period it was written in. 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Scott’s Conscripts of Modernity (2004). To that effect, I shall proceed as follows: (i) I will deliver a succint account of the historical role played by the Jacobins vis-à  -vis the interlocution between the Haitian and the French revolutions. (ii) I will compare and contrast James’s discourse and Scott’s meta-discourse on these historical events. I shall do so by drawing upon the metaphor as the main figurative idiom through which black sovereignty is accounted for. (iii) I willRead MoreFrench Revolution - Montesquieu Voltaire844 Words   |  4 PagesFrench Revolution: The Influences When the Enlightenment occurred, it established some modern-day ideals such as religious toleration, separation of powers, and natural rights. These Enlightened principles eventually spread throughout France, causing the people to question the current state of their society, and ultimately causing the French Revolution. Montesquieu and Voltaire were two very major Enlightenment figures whose beliefs had a huge impact on the French Revolution. The ever-growingRead MoreThe French Revolution And The Enlightenment1471 Words   |  6 Pagespower. Power now in the hands of the people. Through bloodshed, the radical actions of the French Revolution sparked by philosophies of Enlightenment, will impact the future. Historical figures such as Robespierre heading the Great Assembly will drive change in culture through the revolution, in hopes of achieving enlightened societies. The 18th century marks the beginning of modern history. The French revolution playing a role in furthering Enlightenment, will led to a chain of events that will changeRead MoreThe Stone Breakers Analysis1196 Words   |  5 PagesGustave Courbet’s oil painting, The Stone Breakers, (see fig. 1) is an example of an artwork considered representative of its art historical time period, during the mid-19th century. Courbet’s socialist views combined with tensions in the government following the French Revolution of 1789, as well as the progression of the industrial revolution and the effects it had on the French public, influenced him to challenge the dominant worldviews and create artwork to contribute to the developing movement of realismRead MoreThe Ultimate Goal Of Napoleon I, Emperor Of The French Essay1297 Words   |  6 PagesHow have historians tried to evaluate the ultimate goal of Napoleon I, Emperor of the French? With such a variety of perspectives, there is no single theory that can fully answer the breadth of the question. Instead, kaleidoscopes of opinions that span centuries from Napoleon’s reign to contemporary research give us the best analysis of his ambitions. No matter the era, historian’s opinions of Napoleon shift between admiring his achievements, in varying contexts of establishing order or reorganizing

Service Marketing-Woolworths Limited-Free-Samples for Students

Question: Discuss howWoolworths Limited Service Encounters affect the Business Management of the Customers. Answer: Introduction In any service industry, the customer experience on a particular brand plays a major role in deciding whether he or she will purchase the same service in future. The customer offers his or her judgment on the service based on the service encounters or the moment of truth that he or she experiences while interacting with the service provider (Bradley et al. 2013, p.512). Therefore, in the case of any service based organizations, the company should focus on improving the customer touch points which are the key areas where there is an existing interaction with the customer. This is the ideal opportunity for the companies to ensure that they leave a positive impact on the customers. In this paper, the author will be looking at the impact that service encounters in the scenario of Woolworths Limited. The paper uses the real life situation of what happens in this company and how its service encounters affect the business management of the customers. There are several moments of truth in the case of the customer, and it is not possible here to analyze all of them. Therefore, this paper finds it suitable to address services encounters among the Woolworth Company customers based on both backstage and front stage operations. Before engaging in further discussion, it is important to determine the meaning of service encounters. Service encounters involve the mix of emotions where the customers judge the quality of service offered to them in an economic sense concerning the various experiences that they have. There are so many factors that if managed properly can lead to a better customer satisfaction and can increase the business considerably. Flow Chart Showing Service Marketing of Woolworths Limited Significance of Service Encounter In the flow chart, it shows various processes that a customer goes through after coming to the company. Some of this encounter directly involve the customer making several inquiries on product features. However, some customers to engage in products inquiry. This helps the company to allow time for each customer according to his or her needs. The company has to manage the two types of customers effectively to ensure that their service experience is enhanced (Gazzoli, Hancer, Kim, 2013, p.384). Therefore, Woolworth Limited has designed these service experiences in such a way that they can convert neutral or negative emotional experiences of the customers while entering the premises to a positive one. The emotional underpinnings of the service encounters hold utmost importance and have to be managed properly to make the service experience good for the customer. For example in this case, even though the sale person is not available to attend to the customer, they have to be kept engaged with the things that they like so that they don't develop negative feelings about the environment. Many organizations do this by having various entertainment options for their customers like various Frequently Asked Questions pamphlets and having a match running on a T.V near the waiting area. This can be done only if the service providers can understand various touch points that the customer would interact with and the various scenarios that are likely to occur (Giesbrecht, Schwabe, Schenk, 2016, p.172). Duration effects also have to be taken into consideration where the organization management will have to ensure that the customer is made aware when there is a significant progress in their total operations and at the same time they will have to ensure that there are not many discrete steps in which the same is being divided into (Lings, Beatson, Gudergan, 2008, p.1435). Likewise, the Woolworth Limited applied all the above mention approaches when keeping the customers at bay before they are served. Another major factor that is likely to affect the customer satisfaction is that the perceived control that the customer has in the proceedings. In this case, Woolworth Limited instead of making the customer wait for a long time they can give him or her the option of booking the slot based on the availability of the sale person. The more the perceived control that the customer has on the system, more likely he is to be satisfied with the service provision (Lings, Beatson, Gudergan, 2008, p.1443). However, this may not be possible in all the cases where there are several internal systems which the customer has little control on; in such cases, the company must ensure that there is fairness in proceedings so that the customers do not feel that they are being taken for granted. Therefore, managing the perceived control is also one of the major factors that affect the business in a big manner. Every service interaction is an opportunity for the company to portray their satisfaction on the brand. Therefore, it may be argued that each positive experience that the customer has to be reinforced to his or her favorite brand. The Woolworth Limited make maximum use of these service encounters in interacting with the customers and understand their needs and wants and design the service offerings accordingly. This is an ideal platform for the company in getting the feedback from the customers and thus can make the necessary improvisations as and when required (Botschen, 2012, p.16) Managerial Implications As mentioned above the company should make use of these service encounters in getting the customers to their fold. Therefore, unlike other disciplines in the service stable, service encounters cannot be judged merely based on any mathematical equations; there are a lot of qualitative factors influencing the same. The managerial implications that these encounters can have may directly affect return on investment and the market share as it directly influences the customers choice of a brand ("Framework for energy market communications," 2012., p.30). Therefore, this sounds good especially in the case of a company's brand where trust matters the most and most of the marketing methods are based on word of mouth in the market. Regarding facilities, most of the present day companies may be the same; it is just the way the service is being offered that matters. There is not enough focus on the service psychology part of the business that can help Woolworth to improve the service encounters in the organization (Johns, 2012, p.101-115). Therefore, the company has to identify various service interactions that the customers will have during a transaction and identify what all can negatively affect the customers. Improvements have to be made to make sure that the customers are made aware of the completeness of the process, the duration and various steps before hand to avoid any ambiguity (Young 2016, p.178). This approach will help them in reducing the cost and effort as the number of reworks when there is no ambiguity is far less, and this would also improve the customer satisfaction. These encounters also may be used by the company to sell up various services that they offer. There has been enough and more systems and checks developed by the business to manage the demand and the supply needs of the organization, but very little effort has been put into making them effective. Therefore, adding the psychological dimension to the same would increase the brand loyalty and the customers who are satisfied with the service will, in turn, refer them to more and more customers that can help them in building the base (Lloyd Luke, 2011, p.178). Even the internal transactions where the customers are not directly involved but forming an essential part of the whole service process has to be taken into consideration so that the overall service experience is pleasant and streamlined (Zhang, Kosaka, Yabutani, 2011, p.26). Companies these days have been spending a huge budget of promoting their brand through various mediums. If Woolworth Limited manages to get their service piece right can get to the top of the mind of the customers with minimal costs and maintain the same for a significant time References Botschen,G. (2012). Internationalization of Encounter-Based Relationship Strategies. Relationship Marketing, 279-295. Doi: 10.1007/978-3-662-09745-8_16 Bradley,G.L., Sparks,B.A., Zapf,D., McColl-Kennedy,J.R., Jimmieson,N.L. (2013). Task-Relationship-Self: A Framework for Understanding Service Encounter Behaviors. Psychology Marketing, 30(6), 512-528. doi:10.1002/mar.20624 Framework for energy market communications. (2014.). Doi: 10.3403/30277854 Gazzoli,G., Hancer,M., Kim,B.(. (2013). Explaining why employee?customer Orientation influences customers' perceptions of the service encounter. Journal of Service Management, 24(4), 382-400. Doi: 10.1108/josm-09-2012-0192 Giesbrecht,T., Schwabe,G., Schenk,B. (2016). Service encounter think lets: how to Empower service agents to put value co-creation into practice. Information Systems Journal, 27(2), 171-196. doi:10.1111/isj.12099 Johns,R. (2012). Relationship Marketing in a Self-Service Context: No Longer Applicable? Journal of Relationship Marketing, 11(2), 91-115. doi:10.1080/15332667.2012.682331 Kim, Young Mi, (2016). Influences of Employee's Excessive Honorific Usage During Service Encounter on Customers' Perceived Service Quality. Journal of Korea Service Management Society, 17(1), 175-201. doi:10.15706/jksms.2016.17.1.009 Lings,I., Beatson,A., Gudergan,S. (2008). The impact of implicit and explicit Communications on frontline service delivery staff. The Service Industries Journal, 28(10), 1431-1443. Doi: 10.1080/02642060802250245 Lloyd,A.E., Luk,S.T. (2011). Interaction behaviors leading to comfort in the service Encounter. Journal of Services Marketing, 25(3), 176-189. Doi: 10.1108/08876041111129164 Zhang,Q., Kosaka,M., Yabutani,T. (2011). A model of service value co-creation based on a A new concept of service fields in service systems. ICSSSM11. doi:10.1109/icsssm.2011.595946

Tragedy of the Commons

The â€Å"tragedy of the commons† idea was first brought to fore by Garrett Hardin. By it, Hardin refers to a scenario where selfish utilization of resources by an individual ends up having negative effects on the entire community. People have various private and selfish needs that they seek to satisfy at any given moment. On the other hand, the community as a whole has collective interests which may not necessarily be the same as individual needs (Manning 32).Advertising We will write a custom article sample on Tragedy of the Commons specifically for you for only $16.05 $11/page Learn More In this regard, the way one person will want to use certain resources may not be in the best interest of the group as a whole. In his view, people should be regulated in that how they use various resources so that society at large can benefit. Tragedy of the commons affects continuity of life in an ecosystem. Hardin refers to common resources whose unregulated consumption can affect the community negatively (Hetzel 3). According to Hardin, common resources should be regulated so as to ensure that their consumption is beneficial to the community as a whole. Tragedy of the commons occurs because people are given too much freedom when it comes to making choices about resource utilization. In his view, if a common resource is used while taking into consideration the collective interests of a community, each individual will benefit (Manning 112). Tragedy of the commons can lead to overuse of various resources and inability of an ecosystem to sustain itself. It is important to note that tragedy of the commons is catastrophic to the community if it is allowed to happen. Depletion of one resource can lead to extinction of various organisms. I disagree with Hardin on his argument that tragedy of the commons is a problem with no technical solution, as the solution to tragedy of the commons calls for both technical and non-technical approaches. It s hould be noted that for tragedy of the commons to be avoided, values and believes of people must be changed (Dauvergne 223). People should learn the virtue of sharing and avoid egocentric desires for the benefit of everybody in the society. To achieve this, the change of moral values in individuals will be required. Nonetheless, one cannot be prevented from using a given resource if he or she is not given a substitute (Hetzel 9). Therefore, tragedy of the commons requires a technological solution in order to be averted. To ensure sustainable energy sources in the future we have to come up with renewable sources of energy and embrace them. Notably, common resources have to be utilized albeit in a manner that serves the interests of the whole community. It is important to note that there are circumstances when it is acceptable to use common resources without necessarily depleting them. One of the ways is when the rate of consumption is lower than the rate of replacement or renewal (Ma nning 134). This will ensure that resources are saved for future generations.Advertising Looking for article on environmental studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More Moreover, if there are regulations that control utilization of common resources, then their depletion can be put under control. Any resource will be depleted if it is over used and control is necessary. Also when societal interests are put first before the individual interests, utilization of communal resources would be reasonable (Dauvergne 256). These can be achieved through regulation or by exhorting people to change their values. These circumstances can help avert the tragedy of the commons. Works Cited Dauvergne, Peter. Handbook of Global Environmental Politics. Northampton: Edward Elgar Publishing, 2005. Print. Hetzel, Julia. To What Extent is the Tragedy of the Commons Restricting Option When Dealing with a Gloabal Ecological Crisis. Munchen: GRIN Verlag, 2011. Print. Manning, Robert E. Parks and Carrying Capacity: Commons Without Tragedy. Washington: Island Press, 2007. Print. This article on Tragedy of the Commons was written and submitted by user Paityn Cantu to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

My Firm’s Acquisition Essays

My Firm’s Acquisition Essays My Firm’s Acquisition Essay My Firm’s Acquisition Essay My Firm’s Acquisition Name: School: Course/Number: August 16, 2011 Instructor Name: My Firm’s Acquisition As the CEO of McCann Erickson, I am trying to acquire Ogilvy Mather advertising company, which is the same size with our company. With its acquisition, our firm is bound to become the biggest market leader in the advertising industry. Ogilvy Mather being a foreign international company in many countries around the world, we are sure to become the market leader through an acquisition in the whole world without competitors coming in close. Considering that both firms are ion the same industry, an acquisition would come in helpful in saving costs through economies of scale and a synergetic benefit as well as added expertise and diversity of services. However, considering that majority of acquisition and mergers do not go well and end up causing more problems than benefits, a close analysis will need to be conducted to come up with the best way to go about the acquisition. McCann Erickson is one of the biggest worldwide agencies that has specialized in traditional advertising and offers a wide range of marketing services through the McCann world group that coordinates several other companies such as Futurebrand and Weber. Our company has been in existence for around 8 decades and has had a vast experience in multinational services. The firm is based in the United States of America with its headquarters in New York City. The firm uses its local expertise together with its resources to build a reputation that makes it among the biggest agencies. Ogilvy on the other hand, is an international firm. Ogilvy Mather on the other hand, as mentioned earlier is an international company in the same industry in advertising, marketing and public relations. It was established around 948 in Britain as a simple service firm of few workers to become one of the leading advertising firms in the world today. The firm is currently based in Manhattan making it ideal for neg otiations of the acquisition since it is within United States. More so, the company has engaged in more diversified activities such as providing consulting services for clients and formulating strategies for its clients that they call cross-cultural marketing practice. Procedure Considering that most of the acquisitions fail, a procedure to ensure this does not happen will be required. Most of acquisitions fail due to the amount of acquiring the firm paid especially if it was too high and outdoes the benefit of the acquisitions. However, acquiring price is not the only problem causing failure of acquisition, but also other factors such as difference between the firm cultures and operation. In my acquisition of Ogilvy Mather, I would proceed using the following steps to ensure everything goes well to avoid failing in the future. The first strep would be establishing an acquisition team to undertake the acquisition procedures that will include all stakeholders (acquisition.gov, n.d.). The best thing to do is have a team to undertake the acquisition project that will contain professionals, as well as stakeholders to ensure they are aware and contribute to the process considering that know the profile of the firms well. This way, all the team members will focus on one goal of coming up with the best strategy. The team will be issued with specific duties per person and they will be empowered to carryout their roles effectively. In this team, the senior management from both firms would be involved since they are aware of the companies’ performances and the worth of the company. The second step would be describing any problem that may arise or needing to be solved. In this step the team should be focusing I on what the firms aim to solve or improve such as the problems with the firm to be acquired consideri ng that during acquisition the problem or issues are such as reducing costs, building expertise and solving the problems within the firm. The team should seek to define the desired outcomes from both firms at this stage, whether the acquisition can help meet the organizational goals, which in our case is becoming the biggest market leader and doubling our size of our firm. The third step would be examining the market sector, both private and public so that the team can know the possibilities or opportunities in the market place for the firm. This way, the team can be I a position to know what opportunities are available in the industry after the acquisition and whether the goals of the firm are achievable (acquisition.gov, n.d.). After this steps, the fourth step would be developing a performance-based acquisition that would involve conducting an analysis and formulating the objectives of the firm. Then an analysis of job would follow and then complete a performance statement for the company (acquisition.gov, n.d.). This way the team would have a draft of expected performance after the acquisition and implementation would be easier. The fifth step would be developing a way of measuring performance after developing the performance-based acquisition. This will come up with the strategy to follow in managing the performance of the firm after acquisition to achieve the desired and set out goals. This would involve selection of measure for judging the performance of the firm after acquisition to find out if there is any problem with the strategy used. The sixth step would be finding the right contractor for the work, one who will understand the performance-based acquisition set out by the team (acquisition.gov, n. d.). The contractor must know what the firm needs and possess the necessary requirements for executing the strategy. Collaborating with a good contractor will help solve some of the potential problems that arise after acquisition. The last step is putting the contractor as part of the acquisition team to work together. This last step involves allocating resources to the contractor and the team to execute the plan well that involves maintaining the team, restructuring the roles and assigning responsibilities for managing contract performance (acquisition.gov, n.d.). The contractor is supposed to ensure that all goes as planned by the team. Using these seven steps, the acquisition is bound to succeed and potential problems that cause failure will be dealt with easily after the acquisition is done. Institutional-based Issues Some of the institutional issues I am likely to encounter in the acquisition are the need to responding to constraints in the institutions and transitions after the acquisition. Most of companies at most times do not fit in most of the aspects, and such issues will arise, making a bit difficult to integrate easily (Peng, 2010). Such issues can be handled prior to acquisition to ensure that after acquisition, there will be no hard time integrating the systems of the companies together. The other issue is hard behavior ad norms that may be hard to kill to get a chance to acquire the firm such as hubristic managers and who may feel that their firm is worth more and may not feel they are better in some things and may want to remain in control (Peng, 2010). Resource-based Issues Resource –based issues are such as leveraging of the management capabilities of the two firms after acquisition that may be a little hard considering the size of the firms. Ogilvy Mather could be better in some certain management than we are while we could be better at other management places such as in traditional advertisement management. The other issue that could be encountered is integrating the resources such as cash and human resource to realize the best combination of roles and maximum productivity. More so, the integration of the intangible assets such as the reputation might be quite hard (Peng, 2010). Motives of my Acquisition The first managerial motive my acquisition is synergy that comes with combining of two firms. With acquisition of Ogilvy Mather, there will be a chance to build more power in the market since all resources used by the form will be used together with ours. This way, our weak points in terms of resources will be eliminated and some of the unused resources will be used for better purposes. In addition, this will increase our economies of scale and access to more resources. With economies of scale, there is a greater possibility of reducing costs especially from attained discounts. The other motive is growth of our firm to become the market leader as well as have the biggest market share. With acquisition, we are in a position to enter markets that we did not serve while at the same time we shall maintain the market of Ogilvy Mather. Another motive is to create value of shareholders’ wealth as well s increase the value of the stock. Innovation is the other motive that will be ea sily achieved through combined expertise of the firms after acquisition since each firm has its strong brands that will build a bigger band together (Peng, 2010). With acquisition of the Ogilvy Mather, we are in position to retain their market share and make a bigger firm after combining its resources. More so, with such an acquisition, McCann Erickson is bound to be the most powerful firm in the industry that will give us the chance to the advertising industry (Peng, 2010). However, the performance of the acquisition has to be considered first before such motives. In addition, my motive is to negotiate the most successful acquisition by ensuring that its performance is quite good. Our motives can be achieved with proper implementation of the acquisition and ensuring not to offer a bigger premium than benefits that we would get to ensure a successful acquisition. Hubris I do posses hubris considering that I am confident that my organization is the best suite to perform this acquisition and ensure success. The reason that makes me possess hubris is out of my vast experience in the industry, which has made be a better CEO. I learned that confidence boost my capabilities in executing my duties. More so, it makes me more aggressive in business that further aids my guts to take up risky situations that have brought me to my current position. However, I ensure that my hubris character does not ruin my firm and I ensure to involve others in making decisions. Ensuring Success of the Acquisition To ensure that the acquisition is going to be effective, during the performance based acquisition development, we shall consider several strategies. One of the strategies is speed at which we acquire and integrate the firm with our company. It is important to assimilate an acquisition swiftly to avoid losses and realize the synergetic benefit as early as possible to avoid having to incur costs due to unplanned acquisition. With the developed performance-based acquisition, it will be easier for our firm to integrate Ogilvy Mather into our strategy considering that comprehensive analysis abut the matching of the firms shall be done before the acquisition. This will include making quick decisions about the leadership of the firm, processing the necessary administration operations such as compensation, the business cards, and integrating the human resource to ensure harmony among the employees (cpstrat.com, 2011). The other strategy to ensure success of the acquisition is integrating sales to have one or combined sales team, marketing and service deliveries to ensure that everything id run smoothly and to enable tracking of performance. Considering that staff will play a big role in the success of the acquisition, there will be a staff rearrangement where the best will be retained and those that may not fit within the new working culture will be eliminated to ensure only productive ones are left. There will be a clear vision outlined that supports the new acquisitions and considers goals of the new entity formed after acquisition. The statement will be for all stakeholders to understand. Moreover, many acquisitions have failed to lack of better communication and joint management. Before our acquisition, we shall have a selected team of leadership to ensure the acquisition will not waste time on selection of top management after acquisition. The selected leadership team will be served with the responsibility of integrating the employees after the acquisition and ensure communication flows freely from top-down and down to top (cpstrat.com, 2011). Conclusion Acquisition of Ogilvy will not be easy, however, with careful planning the right team it is bound to succeed. With the strategy mentioned above, it is my intention to ensure that I dedicate my self to ensuring it goes as smoothly as possible so that our desired goals and objectives of doubling the size of our firm is achieved. Io intend to work with the management team of the Ogilvy Mather company to ensure that we come to a deal that will be of benefit to all of us including the shareholders who want to realize the best value of their investment. I call upon all the personnel that will be involved to cooperate and make sure the process runs smoothly and fast enough as it would be necessary. References cpstrat.com. (2011). Merger and Acquisition Success Strategies. Retrieved from cpstrat.com/merger-and-acquisition-success-strategies acquisition.gov. n.d. Seven steps to performance-based acquisition. Retrieved from https://www.acquisition.gov/comp/seven_steps/home.html Peng, M.W. (2010). Global Business. Hoboken, N.J: Cengage Learning.

About the F-22 Raptor Fighter Jet

About the F-22 Raptor Fighter Jet The F-22 Raptor is America’s premier air-to-air combat fighter jet that can also perform air-to-ground operations. It is built by Lockheed Martin. The U.S. Air Force has 137 F-22 Raptors in use. The Raptor is the top air combat fighter jet in the world and is designed to dominate the air. Development of the F-22 began in the mid-1980’s at Wright-Patterson Air Force Base, Ohio. Production of the F-22 began in 2001 with full production starting in 2005. The last F-22 was delivered in 2012. Each Raptor has a life span of 40 years. Unique Features of the F-22 Raptor Lockheed’s development partners include Boeing  and Pratt Whitney. Pratt Whitney builds the engine for the fighter. Boeing builds the F-22 airframe. The Raptor has advanced stealth capability to elude enemy aircraft and missiles. The stealth capability means the Raptor’s radar image is as small as a bumblebee. The sensor system gives the F-22 pilot a 360-degree view of the battlefield around the plane. It also has very advanced sensor, radar and electronics allowing it to locate, track and shoot down enemy aircraft. The two engines have 35,000 pounds of thrust each allowing it to cruise above 50,000 feet at Mach 2 speeds. The engines have afterburners for increased speed and directional nozzles for maneuverability. A sophisticated information and diagnostic system allows for paperless maintenance and faster turnaround. Capabilities The F-22 Raptor gives the U.S. air superiority world-wide as there is no other fighter aircraft that can match its capabilities. The F-22 has the ability to fly at over 50,000 feet at Mach 2 speeds and for 1600 nautical miles. Carrying an impressive arsenal of weapons the F-22 can take out enemy aircraft quickly and control the skies. It can then be converted by changing the weapons carried to perform ground attacks. The Raptor has secure communications capability from one F-22 to another F-22. A single pilot controls the aircraft as he has a 360 view of the battlefield around the plane and a wide array of sensors tracking other aircraft in the area. This allows the aircraft to know where enemy aircraft are in the area before they can see the Raptor. When carrying ground mode weapons the Raptor has two 1,000 JDAM’s that can be deployed. It can also carry up to eight smaller diameter bombs. Maintenance on the Raptor is paperless and has a predictive maintenance system to repair parts before they break. Weapons on Board The F-22 Raptor can be configured for either air combat or ground combat. Weapons carried for air combat: one 20mm M61A-2 six barrel rotary cannon and 480 rounds with ammunition feed system capable of 100 rounds per secondsix AIM-120C air-to-air missilestwo AIM-9 Sidewinder heat seeking missiles Ground combat weapon configuration: two 1,000 pound JDAM Joint Direct Attack Munitionstwo AIM-120C air-to-air missilestwo AIM-9T Sidewinder missiles Specifications Engines two Pratt Whitney F119-PW-100 engines with 35,000 pounds maximum thrust (similar engine as the F-35 Joint Strike Fighter)Range 1600 nautical miles using just internal fuelFuel carries 18,000 pounds of fuel and can be refueled while in flight. Wing mounted fuel tanks can be added to carry an additional 8,000 pounds of fuelLength 62.1 feetHeight 16.7 feetWingspan 44 feet 6 inchesCrew size oneWeight over 43,000 pounds empty and 83,500 pounds fully loadedMaximum speed Mach 2Ceiling over 50,000 feetApproximate cost $143 million each Deployed Units Squadrons of F-22’s are deployed at: three squadrons in Virginiathree squadrons in Alaskatwo squadrons in New MexicoF-22’s are also based in Hawaii and the Middle Easttraining, maintenance and tactical work are performed in Florida, Nevada and California

Management information and communications systems - MICS Essay

Management information and communications systems - MICS - Essay Example The rapidly advancing MICS has presented the organizations with immense benefits in terms of efficient data collection, processing of data to support managerial decision making, problem solving processes and enabling a highly collaborative work environment. Transformations in business processes and managerial strategies have been guided by the developments in MICS for enhanced productivity, performance and competitive advantage. However, the challenges exposed by such systems cannot be ignored since it requires in-depth understanding and effective policies to control the ill-effects of MICS. Organizations make use of various techniques like data mining and warehousing to analyse online user behaviour and accommodate strategic practices to achieve higher traffic to their websites. Personal information and vital data related to financial transactions are exposed to threats of misuse by fraudsters. Thus, privacy and data protection issues are some of the vital challenges to which indivi duals are exposed today and this is one of the primary factors guiding online user behaviour. Issues like online frauds, identity theft, information leakage, and hacking have become the buzzwords for Internet users. How vulnerable are we to such frauds and invasions on our personal spaces and what measures can we take to protect ourselves from such incidents? These are some of the vital questions that are faced by the Internet users. Organizations and institutions are grappling with the challenges of protecting customer data and ensuring ethical practices while dealing with sensitive personal information provided by users. The paper provides an in-depth assessment and analysis of these issues by highlighting key aspects of MICS and the ways in which information is handled in today’s world. The report identifies common practices adopted by online websites and organizations to tap into individual information easily available on the Internet and use it to promote its business go als and objectives. The ethical concerns raised by such practices has become the focal point of quite a lot of research studies and efforts are on to control the negative impacts of MICS through efficient practices and policies that guide online behaviour. MICS and privacy – an overview of current and traditional theories The global economy is deeply influenced by innovations and technology breakthroughs that have opened new opportunities and new models of operating in an increasingly complex environment. The complexities arising from globalization of economies and opening of markets to foreign trade and capital have created new possibilities for organizations, despite the fact that this has also presented new challenges and difficulties for managers in devising effective strategies for promoting business goals. Technology in such instances has proved itself a boon in assisting managers to pursue international marketing goals and objectives. Businesses are driven by profits a nd goals that constantly seek new markets and opportunities for growth. However, this is not an easy task given the wide diversities existing in global regions and markets. One of the popular means of exploring new markets and business growth potentials is the Internet that has provided the global managers with an innovative tool to assimilate vital data and statistics that aid in faster decision making and accurate problem solving mechanism. Organizations thus rely on information transfer and knowledge processing

Sociology Theory of Symbolic Interactionism Essay

Sociology Theory of Symbolic Interactionism - Essay Example For one, symbolic interactionists highly consider the importance of subjective meaning within any kind of human interaction or intercommunication. Evidently, the principles marked in symbolic interactionism generate implications particularly to the study of sociology. This paper briefly traces the history of the concept of symbolic interactionism. Further, it discusses the definition of symbolic interactionism given by Herbert Blumer. And finally, the paper examines the impacts of symbolic interactionism to three prominent strands or levels, namely, intrapersonal state, interpersonal process, and social institution. Of history The emergence of the term â€Å"symbolic interactionism† basically originates from Herbert Blumer of the University of Chicago; it was in the 1930s when Blumer coined such term and, from there, established the key concepts or principles attributed to present-day symbolic interactionism (Appelrouth & Edles, 2008). It is strange, though, that Blumer (1968) describes his coinage as â€Å"somewhat barbaric neologism† (p. 1). Of course, every new word -- neologism is derived from the Greek language which means â€Å"new word† -- is strange or foreign especially to people who are not accustomed or familiar to it. Nevertheless, the barbaric description is far from being scholarly. Perhaps Blumer chooses the signifier â€Å"barbaric† in describing his new sociological theory for the reason that such theory or concept emphasizes the subjectivity of persons with regard to certain symbols or meanings. In the process, the â€Å"barbaric† aspect of symbolic interactionism is rightly construed by the fact that such theory critically opposes the dominant thoughts (i.e., objectivity) marked in the early 20th century. On the other hand of the scale, Blumer (1968) highly considers George Herbert Mead to be the central figure who â€Å"laid the foundations of the symbolic interactionist approach† (p. 1). Like Blumer , Mead is associated to the University of Chicago. Mead is famous for his idea of symbols or meanings as shared by many people or minds. Especially in the realm of language, he argues that symbols and their meanings are constructed and reconstructed -- in essence, shared -- by interacting persons. Similar to other symbolic interactionists, Mead views the individual human self as a social construction in which it is â€Å"crafted through the linguistic exchanges† (as cited in Harter, 1999, p. 677). However, Blumer (1968) still holds that he is the one who developed or expounded the full version of such sociological theory in spite of Mead’s being the â€Å"founder† of symbolic interactionism (p. 1). Generally speaking, symbolic interactionism is historically traceable to the â€Å"Chicago School† of sociology (Burnier, 2005). Of theory Blumer (1968) categorically defines the concept of symbolic interactionism as a â€Å"distinctive approach to the study o f human group life and human conduct† (p. 1). In order to fully appreciate this definition, there are five key elements that need to be emphasized and discussed: (1) approach, (2) human, (3) group, (4) life, and (5) conduct. First, Blumer views the theory of symbolic interactionism as an approach in studying a particular phenomenon salient in human society. As an approach, there are several premises, ideas, or frameworks that constitute such an approach or methodology; and these premises or frameworks are the fundamental principles that make-up

Why I Want to Become a Teacher Essay Example for Free

Why I Want to Become a Teacher Essay Everyone has gotten to where they are in life because they had a teacher. By definition, a teacher is someone who gives instruction and communicates skills. The lives most impacted by teachers are those of our children. Teaching makes a difference in children, because it gives them tools to help them be successful in the future. Our children are our future, and they need to be prepared for the future in order to be successful in the working world. The future of our communities and even our nation lies in the hands of our children. The quality of men and women we develop will impact the future of this nation. Therefore, I see teaching as one of the best ways I can help create a greater tomorrow for our great nation. I know that teaching in the school setting will be challenging as well but I am up for it. Although the main commitment to my students will be to teach the school curriculum in a way to meet the required objectives, I would like to use of variety of strategies and be creative in my teaching plans. I hope to arouse the student’s curiosity and foster a desire to continue to learn. Another commitment that I think is equally important is to recognize each student as an individual. Although we will be teaching subjects we also teaching children. I want to understand their academic abilities, personalities, and who will be their main support in regards to school. I want to know what motivates them to do their best and what will hold them back. I believe that teaching is an essential and noble profession. Next to parents, teachers are the most important foundational element in our society. Everything important begins in childhood, especially knowledge, self-knowledge, resilience, and character. Proper preparation is fundamental to living a full, rewarding life. Without self-knowledge, children may follow wrong paths and end up far from their true callings; lost, sad, and unfulfilled. Without resilience, the storms and challenges of life can turn children from their highest path, leaving them far from who they might have been. Finally, character is the intangible force that raises society as a whole, minimizes shocks and collisions between people, and balances self-interest and social good. Ideally, all of this education starts in the home but often the parents themselves may be inadequately skilled in this  regard. School is a necessary complement to and supplement of this learning.

Elian Gonzalez Should Stay In The U.s. :: essays research papers

Dear Rosa Delauro,After reading many articles in the newspapers and magazines that all state, 6 year old Elian Gonzalez has been in the middle of an international tug-of-war since he was found on Thanksgiving Day. Clinging to an inner tube at sea for two days drifting after his family and him were trying to escape from Cuba for freedom. I have decided that it is the right thing for little Elian to stay in the United States. The phone rings: "Your 6-year old son has just been found in the ocean, shipwrecked, clinging to an inner tube. His mother drowned. He is now in Miami hospital." Do you respond? "I’ll be there as soon as I possibly can." or "Send him back to me. I demand it." Elian’s biological father Juan Gonzalez was asked again and again. Why he didn’t go to Miami to see his son. He didn’t answer the question all he demanded was that his son be returned to him, finally threatening the Miami relatives with whom Elian is staying with. Juan says his son is the subject of not only kidnapping but also child abuse. If your son was kidnapped and abused, and the U.S. attorney general publicly said you were able to come see him. Would you stay home? Well Juan Gonzalez is staying home. Why does he lack true affection for the his son? Is he one of those political simpletons so colored with Fidelism that he would rather let his abused son fail than give the slightest political advance to the U.S. to see him. Should Elian be trusted to such a man like his father? Juan lacks the abilities to provide even the basics for Elian. That is, food, security, justice, freedom and the right to be happy. I think that Elian’s father should not be trusted with his son because he can’t even come to the U.S. to see how his son is. If any man in there right mind were able to leave Cuba to come see their child they would drop ever thing for them. Elian shouldn’t be trusted with a man who demands his son be brought back to Cuba and can’t give him food, security, justice, freedom and the right to be happy. When Elian was asked if he wanted to be with his father he said "He cares for his father but he would like his father to be here with him.

Effective inroduction Essay

This essay will be assessing how this section forms an effective introduction to the play. Firstly Miller sets the scene. He begins with describing ‘the backyard of the Keller home, in the outskirts of an American town. ‘ (pg 3) Automatically from this we gather that the play is an American drama. Evidently if you had read previous playwrights by Miller or know his Nationality you would have all ready established the fact of an American play. If not then with-in the first line you are well informed. Next he states the particular time of year in which the play is set â€Å"august of our era† (pg 3) this suggests the weather would be â€Å"beautiful? Not a cloud† (pg 4). It also even goes into further detail informing you of the date and time â€Å"early Sunday morning† (pg 3) He then progresses into describing the house and garden here we can already begin to guess the state, and class of the family. â€Å"The house is two stories high, and has seven rooms† (pg 3. ) He then describes the arrangement of the garden. â€Å"Garden chairs and a table are scattered around† (pg 3) this is very affective as we can imagine a clear picture of where the main conversations and drama will take place. The atmosphere is very cheerful and friendly and suggests that the Keller’s are a popular family. This contrasts later on in the play, when we find out they dint always used to be a popular family due to Joe’s jail incident, and the fact that the neighbour thought he was a ‘murderer. ‘ Also the biggest contrast would be at the end of the play when the tension wouldn’t be calm anymore, instead it is full of resentment by Chris towards Joe, full of guilt on Joe’s behalf, and finally after Joe’s suicide the mood it is upsetting and dramatic. The characters are then introduced; Joe, Chris, and the neighbours. Joe’s character’s first impression is under educated. â€Å"To see what people want you know? † (pg 4/5), and from the stage directions at the beginning of act one: â€Å".. terrible concentration of the uneducated man†(page 3. ) also He asks Dr Bayliss if Frank is: â€Å"Talking sense†(pg 6) this suggests he don’t understand him, This shows us he doesn’t understand people’s ideas, and has a very narrow view of people’s jobs and lively-hoods â€Å"wanted old dictionaries†¦ what’s a man going to do with an old dictionary? † (pg 5) This links into him being very money motivated and materialistic. He cares about money a great deal and values everything by it’s monetary value: â€Å"You mean he’ll make a living out of that? â€Å"(pg 5.) Also we know Joe is very proud and takes good care of his business, this is proven when Miller sets the scene talks about the house â€Å"cost fifteen thousand in the early twenties when it was built† (introduction pg 2) this suggests the house is only about 28-30 years old, as it was built in the twenties, and this play was written around two years of WWII ending in 1945. Meaning Keller has bought this house, and is able to provide and support his family indicating he is a good at his job, and a wealthy business man this is backed up later in the book when he talks to Kate about how he was â€Å"put out† (pg 72) at ten and made to earn for a living. Overall Joe has come from a poorer background, and has managed to work himself up the social ladder. He is not just a serious business man, he is kind and friendly, popular with Bert a young boy he often plays detective games with. Chris is Joe’s son who is introduced on page 9. Together Joe and Chris have a conversation where Ann (Chris’s wife to be as we find out later on in the play) people describe her as a â€Å"beautiful girl† she is seen as mysterious, which draws in the audience. Also Kate (Joe’s wife and Chris’s mother) who is seen as optimistic and living in hope are referred to, however at the start of Act Three there is a contrast between Kate’s idealism and Jim’s practicality. â€Å"you’re so childish Jim† showing she thinks he nai ve and immature. This starts the build up of tension in Act Three. Miller describes Chris as a â€Å"man capable of immense affection and loyalty† (pg 9 stage directions) Before the character even speaks the audience already gets a feel that Chris is going to be the ‘good-guy’ in the play. The other characters introduced are Dr Jim Bayliss our first impression of Jim is that he cynical and realistic when talking to Keller about the rain he says he doesn’t believe in the papers â€Å"then it cant† (pg 4) Hr is critical and sarcastic of the weather. Jim is very against his son being a doctor â€Å"over my dead body† (pg 6) this shows he doesn’t enjoy his profession and we find out later that he had tried to follow his ambition helping humanity, but he couldn’t afford to provide for his family. â€Å"I would love to help humanity on a Warner Brother’s salary† (pg 7) Again another person who is realistic about money, already we get an impression that one of the themes of the play is money and materialism. This also parallels Joes actions, both men have had to compromise their occupation, and had to do things they regret to earn a living. However there is a huge contrast at the start of Act Three. Jim realizes moneys not everything â€Å"money. Money-money-money-money, you say it long enough it doesn’t’ mean anything† (pg 69) This is a sub-plot in the play. But could this need for money all be down to his wife sue? Sue comes in just as Jim talks about â€Å"not a damn thing to look at in the neighbour hood† (pg 7) an awkward moment to introduce a new character but miller purposely picked this so automatically we can get an idea of Sue and Jim’s uneasy relationship. Sue comes across as jealous â€Å"she enjoys it more when you tell her to lay down† (pg 7) implying one of her husbands clients fancies him. Her jealously is seen more stronger later on in the play when she speaks to Ann about trying to convince Chris in moving away, she can be quite harsh and nasty. She is very money obsessed. This is effectual.

Global Marketing Requires a Very Local Attention: a Lesson from Vodafone’s Loss of Japan Unit Essay

Case Summary: This case is talk about the company, Vodafone KK. This company has good performance in Europe, the Middle East, Africa, Asia Pacific, and their subsidiary is joint ventures with United States. What a famous global company! However, Vodafone was failed in Japan. For example, their products in Japan were being dull and services were got worse. Because their products were not catch on the fashion, so Japanese who is tech-savvy didn’t like, and couldn’t satisfy them. Vodafone was just cared about that wanted to become global brand. They didn’t create some new products to attract the customer. Eventually, they failed. There had two competitors, NTT DoCoMo and KDDT. Because of this, they dispatched Bill Morrow to manage its Japan operation and modified its marketing strategy. As the result, their operation in Japan had getting better. And they hoped they could catch up their two rivals. Discussion Questions: 1. Why a firm would such as Vodafone need to have a global marketing strategy even thought its product development, as well as the rest of its marketing strategy, needs to be localizes for tech-savvy consumers in Japan? I thought they want to let everyone knew their brand. So they decided to develop their reputation first. At least, the company’s name wasn’t a unknown company. When they expand to other country, they need to and have to realize the country culture, and find the best strategy to develop in that country. 2. What alternative strategy might Vodafone have used to set a strong market position in Japan from the very beginning? In the beginning, Vodafone focused on building a global brand and cutting costs by producing large numbers of handsets to sell throughout the world . 3. What implications can you draw from Vodafone’s loss of its Japan unit with regard to global firms’ tapping into the convergence among global consumers? Not the Vodafone which is global company had met this kind of problem. As long as global company, might confront with. When the company expanded and developed their reputation, they all ignored some small details.

Huge Improvements For Tasks On Calendar [New Features]

Huge Improvements For Tasks On Calendar [New Features] Today, we are rolling out some exciting  improvements to   that will  make  it even easier for you to manage your team and keep your content creation process organized. Heres a look at some of the improvements weve made to tasks and task templates in . Huge Improvements For s Tasks On Calendar   [New Features]Visually  Track Your   Progress As you create new tasks in , you will now see a small progress meter that will show you your progress on  that post. This meter will automatically adapt itself to the number of tasks youve created and will help you gauge your progress toward publish. When viewing the calendar, you will also see a summary of your progress at a glance. See  What Your Team Is Working On (On The Calendar) It has always been easy to assign and complete tasks in , but it hasnt always been easy to see what your team is working on. Now, your tasks and those assigned to your team members are visible on the calendar, so that you always have a birds-eye view of what you (and your team) are working on. This  should make balancing your workload a breeze. Easily Schedule Tasks For After Publish After many requests, weve made it possible  to schedule tasks for after the post is published. Simply tell how many days after publish that the task is due, and we will automatically schedule it for you. If you need to change or reschedule the task, you can do it with a simple drag and drop. Find Your Team  Faster Than Ever Finally, weve also made it easier to find your team members throughout . You can now spot them visually, or search for them quickly with our newly-built dropdown menu. This feature is especially useful for those of you with many team members. (Magically)  Assign Tasks To The  Post Author When using task templates, rather than making you choose an author manually every time, now its easy for you to assign a task to the post author dynamically. This little feature will shave countless minutes  off of your process each week. It may be small, but that also  makes it powerful. Managing your content workflow from is easier now than ever before. The coolest part of these updates is that most of the ideas came from you! We love hearing your feedback and incorporating your ideas into our product. We have a lot more to come. Thanks, as always, for using ! Youre awesome!

How Is the New SAT Scored

How Is the New SAT Scored SAT / ACT Prep Online Guides and Tips The scoring model on the new SAT differs significantly from the scoring model that was used on the old version of the test. It's important to be aware of these changes so that you can plan your studying and test-taking strategies accordingly. In this article, I'll go through all the scoring differences that have taken place for the new SAT and what they mean for you as a student. Main Scoring Differences The biggest change in the new SAT scoring structure is that it uses a 1600 point scale instead of a 2400 point scale.The Math section is still worth 800 points.The Reading and Writing sections together are called â€Å"Evidence-Based Reading and Writing† and account for the other 800 points.The essay is optional and scored separately from the multiple choice portions of the test (your essay scoredoesn't affectyour Evidence-Based Reading and Writing score). Another difference in the scoring methodology isthe elimination of point deductions for wrong answers.On the old SAT, you were docked a quarter of a point for every question you answered incorrectly.The SAT is now more like the ACT in that incorrect answers are treated the same as questions that were left blank (no points added or subtracted). There are alsofour answer choices for each question now rather than five. What Does This Mean for You? Since there’s no guessing penalty, you don’t have to worry about whether you should guess or leave a question blank on the test.Guessing is always the right choice! This doesn’t necessarily mean that it's easier to get a higher score since the test is curved to account for these changes. However, it does take some of the stress out of the testing process. The switch to a 1600 scale shouldn’t impact you unless you’re trying to compare your scores out of 2400 on the old SAT to scores on the new version.This may be a concern if you want to know how much you’ll need to improve to get a score on the new SAT that’s equivalent to your goal score on the old SAT. Here's a chart thatwill help you convert your current or older scores to their equivalent numbers on the new SAT. However, keep in mind that the latest scoring model gives more weight to Math score. On the old SAT, Math only made up one-third of your total score. On the new SAT, it makes up half. This could mean that students who are especially strong in Math will do better on the new SAT by 50 or so points. If you scored an 800 on Math and a 650 on both Reading and Writing on the old SAT, you would have a composite score of 2100. Assuming you continued to stay at the same level upon taking the new SAT, an 800 in Math and a 650 on the Evidence-Based Reading and Writing section would give you a 1450. This score is 50 points higher than the 1400 you would predict for yourself if you multiplied 2100 by two-thirds for a direct conversion to the new scale. Most colleges will accept scores from both the current SAT and the new SAT for at least a couple of years. The College Board will provide colleges with concordance tables to help them judge and compare scores across the two different tests. Also,score choiceis still an option, so you don’t have to worry about that changing with the updated test. Lock up your bad SAT score in a safe hidden behind a nondescript painting in your rich old uncle's mansion. No one will ever know about it unless he dies and you and your cousins have to spend a spooky night locked in his house (and his will stipulates that you have to disclose your deepest, darkest secrets to each other in order to get a piece of the inheritance). New SAT Subscores The new SAT also includes a complex scoring structure beyond the main section scores.There aretest scores for Math, Reading, and Writing, each on a scale of 10-40. Also, the new SAT hastwo special categories of questions, Analysis in History/Social Sciences and Analysis in Science.These are also scored on a scale of 10-40.These scores are called â€Å"cross-test scores† because each of the categories cover questions in all three sections of the test. Additionally, there areseven subscores, each on a scale of 1-15, for the following categories: Command of Evidence (Reading and Writing) Words in Context (Reading and Writing) Expression of Ideas (Writing) Standard English Conventions (Writing) Heart of Algebra (Math) Problem Solving and Data Analysis (Math) Passport to Advanced Math (Math) Here's a breakdown of the different subscores in this graphic taken from the Khan Academy website: This means that each question on the test fits into multiple subscore categories. Take, for example, this question from the Reading section of one of the new SAT practice tests: The graph following the passage offers evidence that gift-givers base their predictions of how much a gift will be appreciated on A) the appreciation level of the gift-recipients. B) the monetary value of the gift. C) their own desires for the gifts they purchase. D) their relationship with the gift-recipients. This question would naturally be included in the subscore for the Reading test.It would also be included in the Analysis in History/Social Sciences cross-test score: since it deals with the interpretation of a graph that contains data about a sociological phenomenon, it requires you to think analytically in a social sciences context. It would not be a part of the Command of Evidence or Words in Context Reading subscores because it doesn't ask you to provide evidence for your answer to a previous question or demonstrate your understanding of the meaning of a word in the passage. What a thoughtful gift! I definitely won't throw these away in the next trash can I happen to see! Want to learn more about the SAT but tired of reading blog articles? Then you'll love our free, SAT prep livestreams. Designed and led by PrepScholar SAT experts, these live video events are a great resource for students and parents looking to learn more about the SAT and SAT prep. Click on the button below to register for one of our livestreams today! What Does This Mean for You? The new subscores mean more information about your strengths and weaknesses on the test.These scores help highlight your specific strengths for colleges and also provide guidance on where you can improve your skills.College Board has partnered up with Khan Academy to offer afree prep program for the new SAT that personalizesyour prep plan based on your subscore distribution to help you focus on improving your specific weak areas. The subscores also point to new question types on the current SAT.Notice that â€Å"Command of Evidence† is a subscore category for Reading questions.Questions that ask you to cite evidence for your answers are now a major component of the Reading section.These questions ask which lines of the passage provide the best evidence for the answer to the previous question, pushing you to understand the reasoning behind your response.This can be a plus in that it might eliminate silly mistakes on some reading questions, but it also adds a challenging new layer of analysis. â€Å"Words in Context† is also a telling category; understanding vocabulary in context is now a bigger part of the Reading section.The elimination of sentence completion questionsmeans that there are more vocabulary in context questions.These focus less on obscure vocabulary and more on understanding nuances in the meanings of more commonly used words. The existence of â€Å"Problem Solving and Data Analysis†, along with the two cross-test analytical scores, means that there arequestions that ask you to interpret data and apply mathematical and logical reasoning to real-life scenarios. Essay Scores On the current SAT, the essay is optional, and its format has also been updated.Rather than asking you to write about your opinion on a general question, the essay prompt asks you to read a passage and analyze the argument that is presented.The College Board says that the new essay is â€Å"a lot like a typical college writing assignment in which you’re asked to analyze a text.† The essay is scored from 2-8 across three different dimensions: Reading, Analysis, and Writing.The essays are still read by two graders, but now each grader scores the essay on a scale of 1-4 in Reading, Analysis, and Writing. These scores are then added together for a score from 2-8 in each category. This means the maximum essay score is a 24, and the minimum is a 6. Here'sa rubric that explains exactly how these scores are determined.Essentially, the difference between an "advanced" essay and a merely "proficient" essay is the level of understanding of the source text that the student demonstrates. An advanced essay shows a thorough comprehension of how details in the text interrelate to support the author's argument. It goes beyond a basic summary of the author's points to give an insightful, focused analysis of the argument. You really should be able to use a magnifying glass on the essay. From what I've seen on Google images, analysis can't happen without one. What Does This Mean for You? The College Board has created a new essay format in which students must demonstrate analytical skills that are critical for success in college.On the new essay, you’re asked to explain how the author builds his or her argument in the passage and support your points with relevant evidence and details.Asking students to write an essay about another person’s argument is a better way of judging reading and writing skills than asking them to write an opinion piece. Whether or not you end up in a humanities discipline in college, you’ll probably write a research paper or at least analyze other people’s scientific or historical findings at some point.An ability to understand and synthesize key points in an argument made by someone else is crucial for intellectual discourse.The text for the prompt on the new SAT is always taken from a published work, so it is high quality, advanced material similar to what you might see in a college course. You now have 50 minutes to write the essay instead of 25, so you might not be as concerned about time pressure.Remember that you have the option of taking the SAT without the essay, which can eliminate a lot of stress from the testing process. However, many schools, especially the most selective ones, still require applicants to submit essay scores. Check the requirements for schools that interest you! Conclusion The SAT now has an updated scoring model to account for changes in question types and testing methodology.The main difference between the old scoring format and the current format isthe switch back to a 1600 point scale. You can no longer lose points for incorrect answers, and there are four answer choices for each question rather than five. The SAT has also addedsubscores that give you a more detailed picture of your strengths and weaknesses on the test along with a greater degree of personalized support and prep advice through a partnership with Khan Academy. The essay is optional. It also has a more complex scoring system that judges a student’s ability to read an advanced text effectively, analyze the author’s argument, and write coherently about the author's main points. There have been some major changes to the format the SAT, but if you start preparing now, you'll be ready to take on these new challenges in no time! What's Next? Now that you know how the new SAT is scored, you might be wondering if it's the best standardized test option for you. Read this article on whether you should take the new SAT or the ACT. Take a look at this article for some tips on how to study for the updated version of the SAT.You should also read our complete guide to the new SAT. Want to improve your SAT score by 160 points?We've written a guide about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now: Have friends who also need help with test prep? Share this article! Tweet Samantha Lindsay About the Author Samantha is a blog content writer for PrepScholar. Her goal is to help students adopt a less stressful view of standardized testing and other academic challenges through her articles. Samantha is also passionate about art and graduated with honors from Dartmouth College as a Studio Art major in 2014. In high school, she earned a 2400 on the SAT, 5's on all seven of her AP tests, and was named a National Merit Scholar. Get Free Guides to Boost Your SAT/ACT Get FREE EXCLUSIVE insider tips on how to ACE THE SAT/ACT. 100% Privacy. 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PEST analysis, (Political) in the UK Speech or Presentation

PEST analysis, (Political) in the UK - Speech or Presentation Example Individual making investment will be able to claim income tax reduction as an income tax relief. In the western world, the corporate tax rate in Britain is believed to become one of the lowest tax rates. Corporate tax rate has been dropping from 34% in 1990 to 24% in 2013 (Neville 2013). The introduction of new tax relief will lead to further reduction from 24% in 2013 to 21% in 2014. The second political factor is labour law. Currently the UK government have introduced regulations that will implement key changes to the obligations of redundancy collective consultation. This was approved in 6th April, 2014 and there would be publication of new Acas guidance for handling redundancy consultation (lorber & Novitz 2012). The third one is the environmental law. There have been implementations on environment regulations known as extended producer responsibility. These regulations are derived from European legislation and ensure that producers of particular products take full responsibility of reprocessing, recycling, and finance treatment of these items. The other political factor is trade restrictions which are inform of sanctions in the UK. The Sanction measures that have been applied include arms embargoes and several other trade control restrictions. Arms embargoes prohibit exportation of dual-use-items-goods and weaponry which have both military and civil use (Kenner 2011). The last political factor is technology. According to internet economy of UK, internet has allowed access to any information transforming life in UK. Technology use in UK has increase dramatically as evident in the use of smart phones. The rapid growth in tables, data â€Å"dongles†, and smart phone has enabled users to perform a lot of task both at home and in the office (Kenner 2011). The use of smart phone has doubled between 2008 and 2010 as shown

Why do different theories of the firm exist Essay

Why do different theories of the firm exist - Essay Example This paper examines a couple of firm theories with the objective of examining their fine and major points and in an attempt to discover what factors have prompted existence and development of multiple theories of the firm. This is achieved through a literature review that incorporates a wide ranging discussion on the main issues as outlined above. In addition, this paper extends the literature review in an attempt to find empirical basis for the existence of the multiple theories of the firm. In order to do this, the paper examines the literature studies that examine such secondary data evidence either cross sectional or case study based. There is a wide body of research that deals with the issue of firms and theories of firms both in the realms of economics and management. Sagi & Pataki (2006) give out the classical economic firm theory in following words, "Classical firm theories in modeling offer strategies start from profit maximization revenue, i.e. P>MR=MC".However, these authors discredit the relevance and universal applicability of this model and went on to explain the further developments in the firm models that increasingly took into account more variables ,essentially focusing on firm behaviours as an economic decision maker. ... rs discredit the relevance and universal applicability of this model and went on to explain the further developments in the firm models that increasingly took into account more variables ,essentially focusing on firm behaviours as an economic decision maker. However, this paper has emphasis on examination of firm theories that lean more towards more elaborate and comprehensive models that are more management oriented in the sense of having a strategic management bias. The advantage of doing this is evident in that such models reveal more of the strategic management processes that reveal the cross section of today's large sized, globalized and information technology assisted business organizations, one such model is the Resource based model of the firm behaviour. Citing appropriate literature resources Kotelnikov (2007) explains the concept of the resource based model of firm behaviour in following words, "The currently dominant view of business strategy - resource-based theory or resource-based view (RBV) of firms - is based on the concept of economic rent and the view of the company as a collection of capabilities. This view of strategy has a coherence and integrative role that places it well ahead of other mechanisms of strategic decision making. (Kay John)". Using more literature resources Kotelnikov further explains the model as follows, "Each organization is a collection of unique resources and capabilities that provides the basis for its strategy and the primary source of its returns. In the 21st-century hyper-competitive landscape, a firm is a collection of evolving capabilities that is managed dynamically in pursuit of above-average returns (Markides C.C). Thus, differences in firm's performances across time are driven primarily by their unique resources

Human Resource Management and Employment Relations Essay

Human Resource Management and Employment Relations - Essay Example It has been referred to as a flexible staffing arrangement (Houseman, 2001), a market-mediated deal (Abraham, 1990), a flexible working practice (Brewster et al, 1997) or more generally as atypical employment (De Grip et al 1997; Crdova 1986). Based on the definitions, all of them imply that non-standard employment is a clear departure from the standard work arrangement. As it is, standard work arrangements are basically linked to full-time positions that are founded on an unspecified contract and are carried out at the employer's site under the employer's control and supervision (Mckenberger, 1985, p. 429; Bosch, 1986, p.165; Talos, 1999, pp. 417-418; Rogowski & Schmann, 1996). Although, international economic changes and modifications have toughened competition and intensified existing ambiguities within firms, the same have exerted greater pressure on these companies to push and aim for bigger profits and more flexible work arrangements. Generally, there have always been employment relations that did not fit in to the normative prototype of full-time work (Peck, 1996) and this is quite true even for temporary agency work that initially surfaced in the United States after the Second World War (Mitlacher, 2004, p. 9). As a classic example of a non-standard employment relation, temporary agency work entails the externalization of administrative control and responsibility (Pfeffer & Baron, 1988). Temporary work agencies hire workers and employ them out to a client company where they work at the client's premises and direction while the agency charges a fee for the service (Kalleberg, 2000, p. 346). This consequently creates a triangular relationship wherein an employee sets up different linkages with various establishments (Vosko, 1997). In the past decade, the use of temporary work agencies has been prominently evident in most European business firms and in some commercial organisations in Asian countries (Bergstrm & Storrie, 2003). Consequently, the number of temporary workers in the global labour market greatly increased which correspondingly created a new type of employment relationship within firms. As it is, engaging temporary workers through temporary work agencies has now become an ordinary procedure in all types of work organisations and such emerging trend has been mirrored in contemporary publications generated from the human resource and employment relations community (Beynon et al 2002; Mangan 2000; Carre et al. 2000; Barker & Christensen, 1998; Blanpain & Biagi, 1999; Felstead & Jewson, 1999). Though the open-ended employment contract still dominates, the role of temporary agency work can no longer be ignored. Obviously, a huge number of organisations are taking advantage of these workers and the nature of the tasks assigned to them is becoming more complex. However, even with this reality, only a small number of empirical investigations have been made on the human resource management of temporary employment and those that exist have not given so much attention to its peculiarities and dynamics. The temporary employment workforce is theoretically considered as a group consisting of "contingent workers" (Polivika 1986) and the benefits in employing such workers can be

Corporate Social Responsibility In The Banking Sector Finance Essay

Corporate Social Responsibility In The Banking Sector Finance Essay Since ancient times banking practices have always played a significant role in the development and progress within an economy. Banks facilitate financial transactions by collecting deposits from savers and lending loans to those in need of credit. Thus, it enables those that have surplus funds to meet with those who need further funds for expansion and investment purposes. However, it is often the case that mismatches occur between the period at which a depositor wants to save his money and the period at which a borrower would be able to pay up the amount owed by him. Therefore, as an intermediary a bank has to find ways with which to manage the mismatch between short term liabilities of the bank (such as deposits) and long term assets (such as loans). First and foremost a bank needs to be perceived as being trustworthy and thus needs to gain the publics confidence in order to attract financing. It is needless to say that if a particular bank were to go bankrupt, apart from its shareholders, the general public would also suffer considerably. The collapse of a bank might result in the loss of lifetime savings of individuals and families which were held at the particular bank. This would consequently undermine peoples confidence in the financial sector and drive other people to withdraw their money from their own banks which may in turn result in having other sound banks facing serious difficulties to cater for high volumes of withdrawals since a bank in its own nature of doing business holds only a percentage of the funds acquired by depositors and invests the rest in less liquid assets with longer maturities (such as mortgage loans). It is therefore of prominent importance that for an economy to prosper and grow, and thus for the general wellbeing of the whole community, there needs to be at its core a sound and efficient financial system and that the general public also perceives the system to be sound and trustworthy. In trying to address this issue policy makers have sought to achieve healthy financial systems and to promote public confidence through numerous legislations and regulations. In fact, the financial market is one of the most regulated markets in any economy, particularly the banking sector so as to minimise the risks that a bank is exposed to. For decades banks were severely restricted with respect to the services offered to clients, as well as methods allowed for financing and investments. This hindered the ability of banks to be competitive with other financial institutions that were not classified as banks and that had more lax regulations which enabled them to offer a wider range of services and take up more risks to finance their operations. Because the highly regulated financial environment was stifling competition between banks and non-banks, regulators loosened up their regulatory requirements so as to create a level playing field for all the financial institutions. With more lax regulations banks are able to take up more risks and offer a wider range of services to clients meaning also that banks have higher risks to fail or that the publics confidence will be more prone to be undermined because of riskier activities performed by banks. Higher risks and loss of confidence would lead to financial instability and, in some cases, to financial crises where the whole financial market is depressed. This in turn slows down the whole economy since the financial sector is the backbone of an economys financing. It is thought that one of the factors that in fact contributed to the 2008-09 financial crisis was a highly deregulated environment (Shah Gilani, 2005-2011). It is also typical that after financial crises regulators start reviewing their supervisory and regulatory standards and reregulate the industry once again. After the financial crisis of 2008-09 regulators are now imposing new regulations in order to ensure that another world financial crisis is avoided. The new amendments require banks to hold even more capital as a buffer for a given amount of risk it is exposed to than it was already required by law. This process of regulation, deregulation and reregulation is a continuous process that changes as the market itself develops and creates new services and thus is exposed to new risks. Deposit Insurance Agencies are set up for public safety against bank failures. However, in essence it is ultimately the tax-payers themselves that pay the price as the government intervenes to bail-out problematic banks. Because managers running banks are aware of the fact that if the bank fails the government will intervene, it is more likely that they engage in more risky activities and do not exert appropriate due diligence in the running of the business. This problem is known as moral hazard. Thus banks are more likely to engage in hazardous behaviour since if they fail the government will intervene and will not allow the bank to go bankrupt in order to safeguard the public interest. Also, banks are more difficult to have their performance evaluated than other businesses because of the complexity of the business itself. Thus this creates the problem of asymmetric information or, stated in other words, the problem that not everyone has the same opportunities to access the same information. Managers and interns within the banking institution have better information on the performance of the bank than outsiders have access to. This is diminished partially through required disclosure and other regulations that deal with insider dealing in order to promote transparency in the financial markets which again will enhance public confidence. However, it is not the first time that we hear about insider dealings or that disclosure of misleading information was presented to the public. It is therefore clear that although regulation plays an important role in ensuring market stability, efficiency and fairness it is not enough. As John R. Boatright (1999:7) brilliantly describes in his book Ethics in Finance the law is not the only guide within the financial sector. What is legal is not necessarily moral. He then goes on to define the law by saying that it is simply a crude instrument and cannot be used to regulate all financial activities because of their complex nature. Excessive regulation stifles competition, hinders innovation and it is difficult to regulate certain issues that arise within the financial industry such as the issue of conflicts of interests. Therefore self-regulation is nonetheless important in this highly regulated market and the implementation of CSR within the banking industry has yet a unique and special role as much as the role of a bank itself is unique within a community. History: BAnking Practices and Society Banking practices in the past were mainly carried out through the acceptance of gold and deposits to then issue loans with those deposits. Bankers profits consisted mainly in hefty interests received from loans. Bank customers consisted mainly of kings and the papacy during the 1500s up to 1600s and large loans were lent to finance wars and elections. Few can be said with regards to CSR before the 1900s in the implementation of banking practices as is the case with other businesses of the time. However, one may mention the Fugger Family which was one of the greatest banking dynasties after the Medici in the late 16th century. Namely Jacob Fugger established a community for the poor, known as the Fuggerei, which was built in Augsburg in 1519 and is still in use today (Bamber, 2001). This shows evidence of the paternalistic ideology that strongly characterised the economic sphere and business tendencies till the late 1800s. One may also note the great influential power that the banking sector exerted as early as the 16th century as the Fugger family financed Maximilians grandson Charles to bribe his electors; while in the 19th century the Rothschild family financed all of Napoleons enemies. The decisions undertaken by the bankers obviously had an impact on the outcome of events (Bamber, 2001) which shows that from the early stages of the industry banking practices had a strong influence on political, economic and social outcomes. As banking and lending practices were developed, these were not always considered as fair and just as we may know them today. Banks and other financial institutions tended to arbitrarily choose to whom financial services are given, often denying these services to people of colour or the poor. This could be freely done by banks after the process of deregulation giving them more leeway in their practices then before. This discriminatory practice is known as redlining because some bank managers used to arbitrarily mark residential areas occupied by coloured or poor people in red on geographic maps during the 1930s. Areas marked in red were denied financial services and this had a serious impact on urban development since these lacked the funds necessary for investment and developments leading to further urban decay (Boatright, 1999:101). It was not until 1968 that banks were prohibited by law to discriminate on housing lending through the enactment of the Fair Housing Act followed by a series of other regulations thereafter (Hunt, 2005). CSR initiatives developing in the 1950s in the business industry had a ripple affect also on the banking sector were through sanctions and regulations concerning environmental issues on polluting companies banks were also forced indirectly to take action and exercise more attention in the selection of corporate clients in order to safeguard their reputation. The 1980 Superfund in the U.S. and the Directive on Civil Liability for Damage Caused by Waste adopted by the European Commission in 1989 are namely two regulations relating to environmental concern emanating from business operations (IISD, 2010). The Fleet Factors Case of 1990 was one of the first proceedings in the U.S. that directly attributed responsibility for environmental damages caused by their corporate clients as the courts decided that lenders held the capacity to influence the borrowers waste management decisions even if it actually did not do so (IISD, 2010). The UNEP Financial Institutions Initiatives; (UNEP FI) was launched in 1992 with the collaboration of Deutsche Bank, HSBC Holdings, Natwest, Royal Bank of Canada and Westpac in an attempt to garner financial institutions to promote awareness on the pivotal role that the financial sector has in sustainable development and environment protection and to unravel further on the relationship between economic development, environmental protection and sustainable developments (UNEP FI, 2011). During the same year the UNEP Statement by Financial Institutions on the Environment Sustainable development was drafted articulating further the role and responsibility taken over by financial institutions in contributing towards sustainable development in businesses and safeguarding the environment (UNEP FI, 2011). Another Green Paper set out by the European Commission in 1993 required that liability was assumed by the polluter and in case where the responsible party is not identified or unable to pay joint compensation funds financed by the industry should meet such costs on their behalf. The commission addressed also the problems of causation and insurability where more responsibility was exerted upon the shoulders of financial institutions (IISD, 2010). The UNEP was a main contributor to spread awareness and foster a socially responsible attitude in the way business was conducted within financial institutions through international round table meetings and global surveys on the environmental practices of the financial services sector (IISD, 2010). Thus, banks started experiencing more pressure to avoid the so called sin stocks and pay attention to the social performance of corporate clients and not only to financial performance. Many other international guidelines have been developed recently and it is important not to forget to mention the contribution of the International Finance Corporation (IFC) which is a member of the World Bank Group towards sustainable development and in promoting fair, open and competitive markets in order to fight poverty (IFC, 2010). Their common shared values found on the IFC website are depicted as follows: To fight poverty with passion and professionalism for lasting results. To help people help themselves and their environment by providing resources, sharing knowledge, building capacity, and forging partnerships in the public and private sectors. In 2003 the IFC drafted the Equator Principles, a set of guidelines that may be voluntarily adopted by banks aimed to facilitate and aid these institutions wishing to carry out operations in a socially responsible manner. Essentially, the Equator Principles are nothing more than a financial industry benchmark for determining, assessing and managing social environmental risk in project financing (The Equator Principles, 2006). The Principles are targeted towards the financing of corporate clients whose investment projects are environmentally and socially responsible and include also advisory services offered by financial institutions with regards to project financing.  [1]   Who Cares Wins was an initiative undertaken by the financial industry, the UN Global Compact, IFC and the Swiss Government during 2004 (UN Global Compact, IFC, Federal Department of Foreign Affairs, 2009, 2010:3). According to this report, the main aim of this initiative is to support the financial industrys efforts to integrate environmental, social and governance (ESG) issues into mainstream investment decision-making and ownership practices through a series of high-level meetings with investment professionals. Again, here the goal is that of promoting socially responsible project financing through SRI. The United Nations-backed Principles for Responsible Investment Initiative (PRI) are a set of six principles set up in 2005 in collaboration with some of the worlds largest institutional investors (UNPRI, 2011). This initiative was set up in partnership with the UNEP FI and the UN Global Compact. These principles posit the idea that since environmental, social and corporate governance issues may affect the performance of investment portfolios, thus it is important that an investor takes these issues into consideration when making investment decisions and therefore contribute also to the general wellbeing of society (UNPRI, 2011). One may mention numerable banks that are truly committed towards the maxim of doing well by doing the right thing and that actively participate with International NGOs to contribute towards the general wellbeing of communities. Deutsche Bank, HSBC Holdings, and UBS are amongst the most known environmentally and socially driven banks in Europe. For the purpose of this thesis I will now proceed on to scrutinising and analysing the CSR policies of the banks mentioned to then compare them with those policies of three leading Maltese banks namely APS Bank, Bank of Valletta (BOV), and HSBC Malta in a later chapter. All information related to the CSR initiatives undertaken by the foreign and Maltese banks selected was extracted from their respective websites and CSR Reports. The main aim is to evaluate the transparency adopted by the Maltese banks and thus the extent to which they inform the general public in the way they go about their commitments towards society relative to well-establish ed and successful foreign banks. CSR Policies of Foreign Banks This section will give an insight on how some foreign banks known as being committed towards sustainable development, environmental and socially responsible project financing are currently engaging in CSR policies in order to achieve their goals and manage to be profitable and attract business by undertaking such activities given the existing highly competitive environment from other financial and non-financial institutions. For the purpose of this dissertation, the three foreign banks chosen are headquartered within the European Union territory since the Maltese way of doing business is very similar to the way it is conducted in Europe even CSR-wise and therefore it will facilitate comparison between foreign and Maltese banks. Furthermore, HSBC Holdings was selected specifically since it is the parent company of HSBC Malta which will be discussed in detail in the next chapter. Deutsche Bank Deutsche Bank is a leading German and European financial institution successfully expanding its business globally with a work force of over 100,000 employees in 74 countries and offering a vast selection of financial services worldwide (Deutsche Bank AG, 2011). Deutsche Bank mission statement can be found on its official website as follows: We compete to be the leading global provider of financial solutions, creating lasting value for our clients, our shareholders, our people and the communities in which we operate. From the mission statement itself we may denote that the bank is committing itself not only towards its shareholders, clients and employees but their mindset is also headed for the benefit of the communities and their social needs. The banking institution has also formulated a set of values which drive its business orientation. One of these values set out on the banks website is trust where the bank claims confidently its trustworthiness, reliability and honesty. Other values mentioned are performance, teamwork, innovation, and client focus. Finally, the bank also promises stakeholders that the corporation will be operating with responsibility, keeping in mind not only current factors and issues in their decision making but also future consequences and factors that may arise due to todays decisions (Deutsche Bank AG, 2010). We may note by glancing briefly at the way the bank presents itself that it already carefully depicts itself as being socially and environmentally responsible in all aspects of its structural organisation. This however, is nothing new as all businesses especially banking institutions wish to be alleged as being ethical, trustworthy, honest and socially responsible so as to foster public confidence in their business. The bank has also received numerous awards or been ranked first for several social, environmental and corporate governance categories during 2010 some of which include Environmental Rankings, Art and Work Awards, and Top Companies that Care among others. In 2011 the bank has already been awarded the Charity Organisation of the Year 2010 and the European Employee Volunteering Awards 2011 (Deutsche Bank AG, 2011). Deutsche bank is renowned for its CSR initiatives internationally nurturing social and environmental awareness while working to alleviate such issues in communities where it operates. According to the banks official website (Deutsche Bank AG, 2011), Deutsche Bank focuses its CSR strategy in the areas of corporate volunteering, social investments, art music and education. The Communications CSR function is responsible of the banks global CSR initiatives followed by the approval of such initiatives by the Chairman of the Management Board (Deutsche Bank AG, 2011). Coordination of CSR operations is prepared at headquarters and then delegated to and implemented locally by the institutions regional teams (Deutsche Bank AG, 2011). This ensures effectiveness and efficiency through its initiatives and as perceived by the bank itself, it makes sure that it is acting as a responsible corporate citizen showing quite clearly that the bank favours and adopts the Corporate Citizenship Theory expl ained in the first chapter of this thesis. Deutsche Bank has set up ten CSR units in total till now dispersed globally which are namely the Deutsche Bank Foundation, Deutsche Bank Americas Foundation, Corporate Citizenship UK, Deutsche Bank Africa Foundation, Deutsche Bank Asia Foundation, Deutsche Bank Mena Foundation, Alfred Herrhausen Society, Historical Association of Deutsche Bank, Transatlantic Outreach Program (TOP), and finally Deutsche Bank Donation Fund (Deutsche Bank AG, 2010). Through these organisations the bank manages its CSR operations worldwide and creates what the bank calls social capital through sustainability, corporate volunteering, social investments, art music, and education (Deutsche Bank AG, 2011); thus, the bank is CSR oriented at all levels of its operational, and organisational structure. Figure 2.1  [2]  : CSR at Deutsche BankFounded: 1992 Budget 2009: à ¢Ã¢â‚¬Å¡Ã‚ ¬ 3.2 m. The non-profit Alfred Herrhausen Society is the international forum of Deutsche Bank. Its work focuses on new forms of governance as a response to the challenges of the 21st century. The Alfred Herrhausen Society seeks traces of the future in the present, and conceptualizes relevant themes for analysis and debate. It works with international partners across a range of fields including politics, academia, and business to organize forums for discussion worldwide. www.alfred-herrhausen-society.org/en The banks total investments for the year end 2009 amounted to à ¢Ã¢â‚¬Å¡Ã‚ ¬81.1 million of which 39% were invested in social investments, 29% were attributed to education and 27% were allocated to art and music (see figure 2.2 below). Deutsche banks investments were mainly targeted towards Germany, with total investments amounting to 45% at the end of 2009, followed by the Americas at 23%, and 12% of these funds were allocated to Asia Pacific and the UK. Deutsche Banks investments in Europe/Middle East and Africa amounted to only 8% of the funds (see figure 2.3 below). Figure 2.2  [3]  Figure 2.3  [4]   Regional split of total CSR investments Share of total investments per area of activity Kate Cavelle, Director of Corporate Citizenship at Deutsche Bank in the UK, stated that the four main reasons why investment banks care about CSR are social responsibility, staff motivation, client and public perception during an interview conducted by The Gateway in 2010. She also argued that at Deutsche Bank it is recognised that the bank should be highly committed towards CSR. In the UK, Deutsche Bank engages in initiatives such as promoting education so that young people may reach their full potential (The Gateway, 2010). Social Investments undertaken by the bank also include work with the homeless and unemployed persons and works closely with several other UK organisations such as the Globe Theatre and Design Museum. The bank also supports young artists through the sale of art acquired by the bank while keeping employee morale high by changing its art collections through time (The Gateway, 2010). Deutsche Bank is also involved in a microfinance programme where loans are granted with lower interest rates to persons who otherwise would not be able to be granted any credit. According to Kate this is also a good and safe investment undertaken by the bank and thus microfinance is beneficial for the business as well. The bank also encourages employees to get involved in voluntary work and helps out in finding activities that employees may engage in (The Gateway, 2010). On another note, according to an article written in the Financial Times of 23rd March, 2011, Deutsche Bank was sued for breaching its duties when the bank sold a complex interest rate product to a corporate client. The bank was fined à ¢Ã¢â‚¬Å¡Ã‚ ¬541,000 to compensate for the damages inflicted on the client as judge Ulrich Wiechers claimed that the bank should have been clearer when advising the client about the risks involved. Apparently the bank is involved in other eight similar cases at the federal court level involving complex financial instruments known as swaps while it has 17 cases at lower courts (The Financial Times, 2011). This may indicate that although the bank is highly committed and publicly declares its commitments towards sustainable business in its operations, there is still some work to be done in implementing such goals in the day to day transactions and operations undertaken by the bank. HSBC Holdings HSBC is one of the largest financial institutions in the world and is headquartered in London. It operates in 87 countries across the globe. According to the banks official website the bank was established in 1865 to cater for the increasing trade between China and Europe and was named after its founder which is The Hong Kong and Shanghai Banking Corporation Limited. The bank offers a wide range of financial services to cater for different customer needs including Personal Financial Services, Commercial Banking, Global Banking and Markets, and Private Banking (HSBC Holdings plc, 2011). The banks values can be summarised into four concise points found on its official website. HSBC is open to different ideas and cultures; connected with its customers, community and each other; and finally dependable and doing the right thing (HSBC Holdings, 2011). The bank is thus promoting itself as embracing an inclusive environment between employees, and has effective and efficient communication throughout all levels of the organisation including communication with its stakeholders while undertaking sustainable and responsible business practices. By managing risks the bank aims at addressing business opportunities in a sustainable manner and by taking into consideration present and future impacts upon the environment and communities, in particular poorer areas (HSBC Holdings plc, 2011). The bank is also enlisted and involved in a number of external organisations among which are the UN Universal Declaration of Human Rights, UNEP FI, UN Global Compact, Global Business Coalition on HIV/AIDS, Global Sullivan Principles, OECD Principles for Multinational Enterprises and the Equator Principles (HSBC Holdings plc, 2011). HSBC believes that through robust business and sustainable revenues it is also primarily contributing towards the economy, the environment and to the communities and hence, maximising also stakeholder needs (HSBC Holdings, 2011). This statement, in my opinion, is almost synonymous with the arguments put forward in the SVT Theory and Adam Smiths invisible hand that by maximising shareholder wealth, one is also contributing to the benefit of the other stakeholders automatically. The bank is also involved with NGOs so that it may identify how to manage better sustainable risk, while it also works with NGOs to raise financial awareness and help customers on how to manage their finances, thus reducing risks of loan defaulting and keep their home ownership, while of course reducing further the banks risks related to these loans (HSBC Holdings, 2011). According to the banks website, it also engages in SRI investments and responds to several surveys and indices from various organisations. HSBC considers managing the environmental and social impacts of providing finance to our customers as part of business as usual. (HSBC Holdings, 2011). Thus, HSBC describes its commitment towards CSR through the assessment of their corporate clients as being ingrained in the nature of their business, and it seems that the bank acknowledges that this is the right way of doing business. Apart from abiding by the Equator Principles, HSBC has also set up a set of risk policies for sensitive areas such as chemicals, defence, energy etcà ¢Ã¢â€š ¬Ã‚ ¦ (HSBC Holdings, 2011). Through its financial services operations the bank is committed to reducing carbon emissions and because climate change impacts directly the banks customers and its own operations, according to the official website, the bank perceives that it is of utmost importance that these issues are included in its strategies. The bank also engages with microfinance institutions (MFIs) which provide loans and other services to cust omers. According to the HSBC official website, in India the bank is working with 11 MFIs to provide for financial services to people in rural and urban areas (HSBC Holdings, 2011). The bank also provides for financial services in rural areas situated in China making it easier for farmers and people living in these areas to access such services. The bank also provides for funds in constructing better water infrastructures (HSBC Holdings, 2011). The bank feels that it is contributing towards the communities it operates in by providing services to clients, employment, meeting its regulatory obligations and other obligations to suppliers, investments in local business and through financial donations or voluntary work and in this way it also secures its success as a bank (HSBC Holdings, 2011). Following to the information found on its website the bank allocated the sum of $100 million to community investments as at the year ending 2009. The bank entered into a partnership with SOS Childrens Villages in 2006 and established Future First to aid less fortunate children around the world with their educational needs. This initiative has expanded significantly throughout the years and over 500,000 children benefit from this programme around the globe (HSBC Holdings, 2011). JA More Than Money is an initiative monitored in promoting financial awareness among the youth and is run by HSBC volunteers. Children attending this educational p rogramme range from seven to eleven years old. The bank has also set up other programmes namely the HSBC Climate Partnership which is a five year programme targeted to reduce climate change and its impacts on society and the environment and HSBC Eco-Schools Climate Initiative to raise awareness in school on climate change and what action can be taken to reduce its impacts (HSBC Holdings, 2011). In the section dedicated to sustainability reporting on the official website of HSBC one may find a number of sustainability reports. The following table was extracted from the HSBC Holdings plc Sustainability Report for 2009 illustrating the implementation of the Equator Principles in the granting of loans. Table 2.1  [5]  : Adoption of Equator Principles in the Granting of Loans The bank granted only 5 loans which fall under Category A, meaning that these loans may have adverse social or environmental impacts that are diverse, irreversible or unprecedented. Although small in number, the bank still granted such loans to its clients, with a total value of 1,296 almost 7 times larger than the value granted in 2008 of 178. In 2009 the Category B and Category C amounted for the most part of loans granted by the bank. Figure 2.4  [6]  : Division of Clients Compliance with HSBC Environmental Policies Most of the clients comply with HSBCs policy totalling 75% and amounting to 82% in loan value while there are still some clients that do not comply at all with this policy even though these are very small in number and even smaller in value. The banks community investments where mainly allocated towards education, which amounted to 45% while 29% where allocated to environmental investments as illustrated in figure 2.5. The bank also encourages employees to engage in voluntary work, and it works towards reducing carbon emissions on its premisses (HSBC, 2009:16). Figure 2.5