National Bank Essay

A research program is very important & essential for acquiring experience through learning and spreading the scope of Knowledge. I have done my research program in National Bank Limited, Foreign Exchange Branch. This research report is aimed at providing a comprehensive picture to the areas of Foreign Exchange operation of National Bank Limited. The report has been divided into twelve parts. These are- Introduction, Brief History of Banking Sector of Bangladesh, Corporate review of NBL, Foreign Exchange, Documents Used in Foreign Exchange Business, Letter of Credit (L/C), Import, Export, Foreign Remittance, Findings and Analysis, References. National Bank Limited is one of the largest commercial Bank of Bangladesh. The main objective of the Bank is to provide all of banking services at the doorsteps of the people. The Bank also participates in various social and development programs and takes part in implementation of various policies and promises made by the Government. National Bank Limited plays a pioneering role in handling foreign trade and foreign exchange transactions. With wide network of branches at home and a large number of correspondent banks worldwide, it is handling the largest volume of export-import business including homebound remittances. For this reason, Foreign Exchange of the Bank is very much essential. But now a day’s banking sector of Bangladesh is suffering the disease of default culture which is the consequence or result of bad performance of most banks. There are three types of modes of foreign exchange market, which are- Export Financing, Import Financing and Foreign Remittance. Foreign Exchange Branch does these foreign exchange activities vastly. In this report, I mention the overall operating procedure of foreign exchange transaction of National Bank Limited. I also mention the findings of my report and describe the recommendation to overcome the limitation. I have taken all the reasonable care to ensure the accuracy and quality to make the report standard. And I believe that it has included all the necessary information to be relevant. INTRODUCTIOIN ORIGIN OF THE REPORT As a mandatory part the BBA Program, all the students of the faculty of  Business Studies, Premier University, Chittagong have to undergo a three month long research program with an objective of gaining practical knowledge about current business world. After this research program each and every students have to submit a research report mentioning their activities during the research program. I’ve started my research at the National Bank Limited, Foreign Exchange Branch. At the end of the research program I am submitting my research report focusing on the contribution of Foreign Exchange operation to the overall performance of bank especially on profitability perspective under the supervision of Tasnim Uddin Chowdhury, Lecturer, Department of Finance, in Premier University, Chittagong. OBJECTIVES OF THE STUDY The general objective of the study is to gather practical knowledge regarding banking system and operation. The research gives us a chance to relate the four year long theoretical learning of BBA Program with the reserch experience. This consists the following: To get an overall idea about the Foreign exchange Business of National Bank Limited. To apply theoretical knowledge in the practical field. To describe the organizational structure, management, background, functions and objectives of the bank and its contribution to the national economy. To achieve overall understanding of National Bank Limited. To analyze the financing systems of the bank to find out any contributing field. To examine the profitability and productivity of the bank. To acquire knowledge about the everyday banking operation of National Bank Limited. To evaluate the effect of world recession on foreign exchange income of NBL, Foreign Exchange Branch. To understand the real management situation and try to recommend for improving existing problems. SCOPE OF THE STUDY This study provides those scopes of knowing are the following: History and performance of National Bank Limited. Terms used in foreign exchange operations Foreign exchange operations of National Bank Limited Literature review. Total concept of Foreign Exchange Operation. METHODOLOGY OF THE STUDY The report is prepared on the basic of foreign Exchange of National Bank Limited. To conduct the overall study, at first I explored the sources of Primary and Secondary information and data. Different files of the department and statement prepared by FED helped me to prepare this report. To present numerical data, I used the Annual Report of 2008 and monthly statement of January to October 2009 of National Bank Limited, Foreign Exchange Branch. For preparing this report I have used some graphical representation to find out different types of analytical and interpretation. SOURCES OF DATA As mentioned earlier, mainly primary and secondary data has been used. Sometimes the customers gave some important information regarding the services of the Bank: PRIMARY DATA Official records of National Bank Limited (NBL).. Expert opinion. SECONDARY DATA Monthly Statement of NBL. Annual Report of NBL. Official Files. Selected books. Other manual information. Websites. Various publications on the Bangladesh Bank. Newspaper reports in this concern. DATA ANALYSIS AND INTERPRETATION Both quantitative and qualitative analysis will be performed on the findings. The quantitative analysis will be done on the trend of export- import, growth pattern of export-import, pre and post facilities provided for easing the export-import operations. Qualitative analyses will be based on the macroeconomic variables and foreign exchange policy provided by Bangladesh bank, the central bank of Bangladesh. Different statistical tools will be used for the analysis of the findings. LIMITATIONS OF THE STUDY To provide current information and to make the report read-worthy, support from various sources is essential. In spite of having my wholehearted effort, I could not collect some information required at the time of the study. So this study is not free from the following limitation: Due to unavailability of latest annual report (Annual report 2009), I have to prepare the report on the basis of annual report 2008. As a result, analysis, presentation of data may not show the existing position/present condition of National Bank Limited. For the whole research I had only 90 days, out of which I get 61 days because of late commencement of research program, which were totally insufficient. So I faced time shortage extremely. Lack of previous experience to prepare this type of report and it is totally new to me as an intern. Foreign exchange division follows Uniform Customs and Practice for Documentary Credits (UCPDC), but within this short period, I was totally stunned to understand. Learning all the banking functions within just two months was really difficult. Sometimes the officers of National Bank Limited were very busy. For this reason the personal did not co-operate me. National Bank Limited did not give me any kind of monetary support for this research program Most of the working days in NBL, I have to work in cash department to help in IPO subscription collection, so I get limited time work in other departments to have practical knowledge Another limitation of  this report is Bank’s policy of not disclosing some data and information for obvious reason, which could be very much helpful. BRIEF HITORY OF BANKING SECTOR OF BD EVOLUTION OF THE WORD ‘BANK’ The word bank originated from Italian word â€Å"Banca†. Banca means long tool. In ancient time Italian Jews merchant used to do business of lending money by sitting on the tools. It is assumed that the word â€Å"bank† derived from the word Banca. To meet the expense of war of 1171 one type credit certificate was launched in Italy at an interest rate of 5% it was called as Monte in Italian language and Bank in German language then German language was widely used in Italy. As a result the word Bank gradually changed to the word Banca from which the word Bank originated. THE EMERGENCE OF MODERN BANKING The linguistics and etymologists suggests an interesting story about banking origins. Both the old French word â€Å"Banque† and the Italian word Banca were used centuries ago to mean a bench or moneychangers table. This describes quite well what historians have observed concerning the first bankers, who lived more than 2000 years ago. They were money changers, situated usually at table or in a small shop in the commercial district, aiding travelers who came to town by exchanging foreign coins for local money or discounting commercial notes for a fee in order to supply merchants with working capital. The first bankers probably used their own capital to fund their activities, but it was not long before the idea of attracting deposit and securing temporary loans from wealthy customers became a source of bank funding. Loans were then made to merchant’s shippers and landowners at rates of interests low as 6 percent per annum to as high as 48 percent a month for the riskiest ventures. Most of the early bank was Greek in origin. The banking industry gradually spread outward from the classical civilizations of Greece and Rome into northern and western Europe. The early bank in Europe was places for safe keeping of valuable items (such as gold and  silver bullion) as people came to fear loss of their asset due to war, theft, or expropriation by government. When colonies were established in North and South America, old world banking practice were transferred . DEVELOPMENT OF BANKING IN BANGLADESH Since early British rule, the history of banking in Bangladesh territory shows that the traditional trade-networks developed before the banks invaded rural areas. And the banking services have slowly flourished in Bangladesh territory. Even today, in many places, moneylenders provide credit services. Small shopkeepers and businessman use informal credit at high interest rate. Traditional mahjong’s money lending business gradually declined due to expansion of bank and the micro credit programs of NGOs, cooperative banks and government agencies. PUBLIC SECTOR BANKS During the liberation war in 1971, the economic, political, and social system including the banking system was severally damaged. At that time, all big and medium financial institutions except two small banks had their head office in the West Pakistan. The non-beagle owners and managers of the financial establishments that operated in East Pakistan had abandoned them. After independence in 1971, the new government had to take over management and ownership of all such institutions. The banks Nationalization Order 1972 was issued to nationalize banks and financial institutions (except those incorporated abroad) in order to control chaos in the field of ownership, party bureaucracy, the intelligentsia, and pressure group. By several orders the government of Peoples Republic of Bangladesh created- Six nationalized commercial banks (NCBs): 1. Sonali Bank 2. Agrani Bank 3. Janata Bank 4. Rupali Bank 5. Pubali Bank 6. Uttra Bank One industrial bank (BSB) One agricultural bank (BKB) One industrial development financial institution (BSRS) The bank and financial institutions which originated during the Pakistan period and were merged, and renamed and functioning after independence of Bangladesh. In the year 1983, the government allowed private sector to participate in the banking business. The Publi Bank and the Uttara Bank were denationalized in 1985, due to non profitability. This action reduced the number of NCBs to four. Such restructuring of public sector banks was in order to play their role in industry, agriculture, export, self –employment etc. PRIVATE COMMERCIAL BANKS Taking advantage of the liberalization policy of the government regarding participation of private sector in the banking business, a number of private banks were established in –and –after 1983. With the emergence of private banks in Bangladesh, a competitive situation in the sector has been created. Now there are 48 commercial banks in Bangladesh which are enlisted with Bangladesh Bank, among them four (4) are NCBs, five (5) are specialized banks, twenty nine (29) are private commercial banks and ten (10) are foreign commercial banks. The emergence of private banks has added a new dimension to the banking system in Bangladesh. The private commercial banks show a steady growth in terms of number of branches, deposit and advances. CORPORATE REVIEW OF NATIONAL BANK History of National Bank Limited National Bank Limited has its prosperous past, glorious present, prospective future and under processing projects and activities. Established as the first private sector Bank fully owned by Bangladeshi entrepreneurs, NBL has been flourishing as the largest private sector bank with the passage of time after facing many stress and strain. The member of the board of directors is creative businessman and international economist. For rendering all modern  services, NBL, as a financial institution automated all it’s branches with computer network in accordance with the competitive commercial demand of time. Moreover, considering it’s forth- coming future the infrastructure of the Bank has been much more to NBL. Keeping the target in mind NBL has taken preparation branches by the wear 2000-2001. The emergence of National Bank Limited in the private sector is an important event in the banking area of Bangladesh. When the national was in the grip of severe recession, Govt. too k the farsighted decision to allow in the private sector to revive the economy of the country. Several dynamic entrepreneurs came forward for establishing a bank with a motto to revitalize the economy of the country. National Bank Limited was born as the first hundred percent Bangladesh owned Bank in the private sector. From the very inception it is the firm determination of National Bank Limited to play a vital role in the national economy. We are determined to bring back the long forgotten taste of banking services and flavors. We want to serve each one promptly and with a sense of dedication and dignity. The President of the People’s Republic of Bangladesh Justice Ahsanuddin Chowdhury inaugurated the bank formally on March 28, 1983 but the first branch at 48, Dilkusha Commercial Area, Dhaka started functioning on March 23, 1983. The 2nd Branch was opened on 11th May 1983 at Khatungonj, Chittagong. Today we have total 103 Branches all over Bangladesh. A representative office was established in Yangon, Myanmar in October, 1996 by our bank and obtained permission from t he government of Bangladesh to handle border trade with Myanmar .opportunities is being explored for further business avenues there. Now NBL is on line to establish trade and communication with the prime international banking companies of the world. As a result NBL will be able to build a strong root in international banking horizon .Bank has been drawing arrangement with well conversant money transfer service agency â€Å"Western union†. It has full time arrangement for speedy transfer of money all over the world. Banking is not only a profit – oriented commercial institution but it has a public bas and social commitment admitting this true NBL is going on with its diversified banking activities NBL introduced monthly Savings Scheme, special Deposit Scheme, and Consumers. Credit Scheme and savings Insurance scheme etc. To combine the people of lower and middle income group. A team of highly qualified and experiment professional headed by the managing Director of the  bank who has vast banking experience operates bank and at the top three is an efficient Board of Directors for making policies. Vision of National Bank Limited Establishing as a top grade efficient bank through best application of modern information technology and business activities, offering high standard client services and Proper coordination of foreign trade business in the core of their vision. Mission of national bank Limited With a view to achieving commercial objective of the bank, their sincere and all out efforts stay put unabated. Respected client and shareholders are attracted to us for our transparency, accountability, social communities, and high quality of clientele services. Objective of national Bank Limited Bring modern banking facilities to the doorsteps of general public through diversification of services, thereby arousing saving propensity among the people. Foreign a cordial, deep rooted and farm banker customer relationship by dispensing prompt and improved clientele services. Taking part in the development of the national economy through productive development of the banks resources as well as patronizing different social activities. Connecting clients to modern banking practices by the best application of improved information technology, so that they get encouraged to continue and feel proud of banking with NBL. Responding to the need of the time by participating in the syndicated large loan financing with like-minded banks of the country, thereby expanding the area of investment Elevating the image of the bank at home and abroad by sustained expansion of its activities. Strategies of National Bank Limited To manage and operate the bank in the most efficient manner to enhance financial performance and to control cost of fund. To strive for customer satisfaction through quality control and delivery of timely services. To identify customer credit and other banking needs and monitor their perception towards our performance in meeting those and update requirement. To review and update policies procedures and practices to enhance the ability to extend better services to customer. To train and develop all employs and provide them adequate resources so that customer needs can responsibility addressed. To promote organizational effectiveness by openly communicating company plans, policies, practices and procedures to all employers in a timely fashion To cultivate a working environment that fosters positive motivation for improved performance To diversify portfolio both in the retail and whole sale market. To increase direct contact with customer in order o cultivate a closer relationship Busin ess Goal To patronize, sponsor and encouraged games and sports, entertainment and other socio-economic activities alongside providing the best services to the client. The Future thrust Full duplex on-line Banking Introducing more innovative products and services Opening new branches Expansion of business network at home and abroad SMS Banking Introduction of new liability / Asset products Corporate Culture Employees of NBL share certain common values, which helps to create a NBL culture. The client comes first Search for professional excellence Openness to new ideas& new methods to encourage creativity Quick decision making Flexibility and prompt response A sense of professional ethics Growth and Development of NBL The NBL carries out all traditional functions, which a commercial bank performs such as mobilization of the deposit, investment of funds, financing export and import business, trade and commerce and industry. The banking sector in the country faced different problems thought the year. Even through the board and management never stopped its effort to maximize wealth, which is reflected by 143.97percent profit growth in 2007, highest ever in the last 15 years. The bank earned the 676.45 core revenue in 2007 as interest, income from investment and commission & exchange earning, which who Tk. 530:69 corer in the provision year. As a result the total operating profit rode to Tk. 221.51 corer in 2007 from Tk.114.68 corer in the previous year. Branches of NBL NBL, which was started at Dilkusha Branch on March 23rd, 1983, was the first major commercial Bank. In Bangladesh operating throughout the country as well as the age of the bank is only 25 years .During this period it has established total 112 branches over the country and made smooth network inside the country as well as thought the world. The number of branches as well as territory wise is mentioned in the table.

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Indias Private Defence Companies

Indias Private Defence Companies Our endeavour must be to meet the twin imperatives of technological relevance and cost effective delivery. Given the expansion of our private sector, both in technical and financial terms, we are at the threshold of a future in which the private sector contributes to the national cause of high technology defence. There is need for a new institutional framework to involve the private sector, to ensure continuous dialogue as well as to provide incentives for risk taking. We should encourage substantial investment in production capabilities and also in defence related RDs.  [1]   Manmohan Singh, PM of India Introduction The history of involvement of private industry in defence production in India goes back to 1991  [2]  which was followed by government initiatives in 1998 to establish close interaction of MoD and services with the Confederation of Indian Industries (CII). The constitution of Group of Ministers  [3]   committee tasked to examine the Kargil debacle, the policy reforms implemented by the government since 2001  [4]  and the constitution of Kelkar committee in 2004  [5]  , were primarily aimed at overhauling the acquisition process and promoting indigenous development to achieve 70% defence requirements from indigenous sources by 2010. The major fall out of these was the Defence Procurement Procedures, DPP 2002, DPP 2004, DPP 2006 and DPP 2008  [6]  . The dramatic differences between technologies used in commercial and military systems in the past have narrowed down with the changing pace of the scientific innovation in the commercial sector especially in the fields of nano-technology, robotics, computer simulation, and stealth technology. As a result, military organizations in developed countries have turned to commercial sector for dual-use technologies and new breakthrough scientific discoveries especially with the decline in the defence spending in post Cold-War era for reasons economic as well as political. Emerging Private Sector In the last two decades, the Private Sector has expanded immensely  [7]  with the DPSUs outsourcing more than 30% and OFs outsourcing 80%. The private sector can produce much more efficiently in a much less time frame and hence their role in Indian defence industry cannot be underestimated despite their constraints. Various private sector companies have ventured into the defence sector and have been issued license by the government. These companies have already taken up production of defence equipment by entering into joint venture (JV) with many foreign companies. Some of these are  [8]  :- Mahindra Mahindra Ltd, New Delhi. Larsen Toubro Ltd, Mumbai. Max Aerospace Aviation Ltd, Mumbai. HBL Power Systems Ltd, Hyderabad. Ramoss India, New Delhi. Tata Motors Ltd, Mumbai. Alpha Phazotron Radar Equipment Systems Pvt Ltd, Bangalore EADSs helicopter subsidiary Eurocopter is associated with HAL since 1962, manufacturing more than 600 Alouette 3 and Lama (known as Cheetah and Chetak locally) helicopters. EADS has plans to set up pilot training facilities in India for the civil and military segments and plans to invest $7-8 billion ($9.5-11 billion) over the next 10 years. In Nov 2009, Mahindra Group created Mahindra Defence Systems in India  [9]  which is a JV with BAE Systems. Mahindra Group has simultaneously acquired majority stakes in two Australian defence companies, Aerostaff Australia and Gippsland Aeronautics, signalling its entry into the defence and aerospace business. Tata has entered into JV with AgustaWestland to assemble the AW119 in India. Honeywell Aerospace  [10]  , which provides integrated avionics, engines, systems and service products for the aerospace industry, is one example. The US Company has a design and development centre in India that it hopes to expand in the coming years. Airbus has set up the Airbus Engineering Centre India in Bangalore where local engineers help develop capabilities in modelling and simulation, covering areas such as flight management systems and aerodynamics, to help in the design and production of aircraft such as the A380 and the A350. It is also working with Indian IT firms such as CADES, HCL, Infosys, Quest and Satyam to offer support across various aircraft programmes. India has an inherent edge over several other nations because of higher skills and lower costs of production. This makes India an ideal contender for joint ventures. HAL has entered into joint ventures with many overseas aviation system companies to undertake design and development of new systems in India. Some of these are the BaeHAL, HAL Edgewood, HELBIT etc. Many other software and hardware giants involved in the aviation hardware and software development especially in the embedded and real time system domain have also established their facilities in Bangalore. Some of these are GE Intelligent Systems, Honeywell, etc. Given their rapid growth over the last decade, it is perhaps no surprise that Indian software companies such as HCL, Infosys, Infotech, Tata Consultancy Services and Wipro have been active in the aerospace industry for several years. Increasingly, they are benefiting from the engineering services outsourcing programmes. This will help India evolve from IT and low-end business process outsourcing work to high-end design services. Overseas companies view the Indian companies as long-term partners and not as mere suppliers/vendors  [11]  . Initiatives The initiatives undertaken by government towards promoting involvement of private sector industries towards high end defence requirements are:- Opening up of defence sector (in 2001) for 100% participation by Indian private sector and upto 26% FDI. Provision of the offset clause in DPP for any procurement from a foreign vendor beyond 300 crores. Introduction of a procurement clause Buy and Make (Indian).This clause is expected to create a positive impact on the private sector industry and could encourage formation of joint ventures or alliances for co-production with Indian companies. Issue of RFP to Indian private sector and the companies having a greater say in negotiations, in obtaining technology from foreign Original Equipment Manufacturers (OEM) as well as in co-production. Sharing of information on long term perspective plan with the Indian industry and the involvement of the domestic industry in acquisition planning. Funding RD cost to the extent of 80 per cent by the Government. Non starters Inspite of the various measures taken, there has been no remarkable change in the current state of indigenisation. Only a few of Indias top private sector companies are involved in certain small value defence contracts. It needs to be realised that the goal of self reliance would remain a pipe dream if it is to be achieved by just banking on public sector alone. The involvement of private sector is mandatory to harness the best technology available and reduce imports. Considering the measures taken over the last two decades, India presently is far from achieving the indigenous figure of 70%. Equipment worth $50 billion has been bought from foreign suppliers in the last decade with the expenditure likely to touch $100 billion in the coming decade. The reasons to these are:- A number of defence-industry seminars, conferences and exhibitions have been held in the recent years but old mindsets, complex procurement procedures and clout wielded by the public sector have been acting as major deterrents to any meaningful participation of the private sector. Inspite of policy reforms of 2001, at the Defence-Expo 2010 the foreign defence majors were still lined up to display their wares. Hence, the efficacy of the initiatives of 26% FDI needs to be given a relook. While we trust foreign suppliers (essentially because there are few alternatives) governed as they are by their respective national laws that have in-built sanction mechanisms to restrict supplies in various situations, we have not extended the same trust quotient to Indian Industry. As on date the private sector is at a distinct disadvantage as against OFs and DPSUs. The OFs and DPSUs have a non-competitive edge, because of its close proximity to the MoD. In all deals under TOT, default agency that receives the benefit is always a DPSU, even if a private sector company is better placed in terms of know-how to absorb the technology and the available infrastructure. The private sector is also inhibited by technical limitations primarily due to its late entry into the defence industry and needs to institutionalise joint ventures with established foreign defence majors. However, the FDI cap of 26% is an impediment. Way Ahead The role of the Department of Defence Production thus needs to be drastically retooled to evaluate Indias requirements not in a public sector context but a larger India paradigm. Essentially the initiatives needed are:- De-licensing. The licensing system needs to be given a relook or done away with for manufacturing of defence equipment by private companies except for very critical products. Foreign Direct Investment. FDI limits should be enhanced to 49% for all defence production with sensitive content and in non-sensitive areas raised to 76 or even 100 per cent. This would obviate the need for government to defray 80 per cent of the RD costs. Private Equity Participation Government must seriously consider private equity participation in the defence-related public sector to unlock their potential and maximise returns on sovereign investment over the decades Developmental Partners. During development phase suitable industrial entities needs to be identified to participate in the activity as developmental partners. Limited Series Production (LSP). After joint development, the industry partners needs to be co-opted for execution of LSP that can meet the service requirement. Bulk Production Bulk of production needs to be outsourced to private players in a phased manner over several years. This could ease the problem of available OFs and DPSUs while at the same time utilise the resources available in these public establishments. Spin-offs The spin-offs from the defence technology need to be exploited in the commercial domain by effecting required repackaging/modification. Marketing. Scope also exists for industry to seek potential market for these products in India/Abroad with due approvals. Also the collaboration of private companies needs to be exploited for marketing of the products. Tax benefits. The government needs to provide a level playing field to private industry in terms of excise and custom exemptions for imports of certain components to be utilised in defence equipment. Promoting Interactions. DRDO has been actively promoting private industries participation in its entire gamut of activities by regularly interacting with the interested players as well as with organizations such as CII, FICCI, ASOCHAM. DRDO has organized several DRDO-Industry meets to appraise industry veterans about opportunities awaiting them in Defence RD. This would defineitely help in exploiting the available expertise in industry. Sponsored Research. Government needs to look into orient the fresh brains in the IITs, NITs and other educational institutions in India towards RD of the projects in hand as well as perspective projects. This can be taken up through Sponsored Research as well as industrial consultancy. Public Private Partnership. There is a need to promote public private partnership as the public sector has excellent infrastructure, manufacturing facilities and a highly experienced task force. It will be a waste of national resources if these assets are duplicated by the private sector. The private sector, on the other hand, can bring in latest technology, managerial practices, marketing skills and financial management. Therefore, a well-blended fusion of both will result in synergising of their strengths through economies of scale and prove mutually beneficial. Joint Ventures. The Brahmos project, which is the governmental level collaboration between the GOI (Bharat) and Russia (Moscow), is one good example of implementing organisational level change. The same needs to be followed up in other projects in pipeline.

Shakespeares Macbeth as a Tragic Hero :: Macbeth essays

Macbeth as a Tragic Hero For Macbeth to be considered a â€Å"Tragic Hero†, he must have some potential nobility, some good qualities that make his downfall terrifying. He must be examined as a human being with human weaknesses. Is he one who, as Lady Macbeth says, Act I, Sc. v, "is too full of the milk of human kindness To catch the nearest way" or is he the "butcher" that Malcolm considers him to be in the final scene of the play? Or is he a victim of his ambition or of moral weaknesses or of his limited concept of manliness, or even of a combination of circumstances that cause him to fall? From the opening scene Macbeth is chosen as a target for temptation; the witches, as agents of evil plan their trap; so the stage is set for his downfall. One good quality of Macbeth is his bravery. We learn of his physical prowess and bravery on the battlefield - "brave Macbeth", "valour's minion", "valiant cousin! worthy gentleman!", he is an eagle, a lion, "Bellona's bridegroom". These are the outward signs as seen by the Captain, Duncan and Ross, Act I, Sc.ii. Unfortunately, Macbeth is prone to temptation. In the following scene we observe his interest in the Witches' predictions. He is tempted - "Your children shall be Kings" ; but temptation is not guilt. When Ross tells him he has been made Thane of Cawdor, Macbeth asks, "why do you dress me in borrowed robes?" Does this suggest that, at this stage, he wants no honors that are not rightfully his? * A Materialist - In this soliloquy (aside) in Act I,Sc. iii we see how the fulfillment of the first prediction is working on him. Does he show himself to be a materialist here, looking for success and closing his eyes to the fact that achievement and goodness do not necessarily go together? Is this what Lady Macbeth sees in him when she says in Act I, Sc. v, "wouldst not play false And yet wouldst wrongly win?" * Virtuous or Hypocrite - He is aware of his duties as a subject "...and our duties Are to your throne and state children and servants, Which do but what they should, by doing every thing Safe toward your love and honor." Is this an inclination of his virtue, or is it hypocrisy? * Conscience?

Shakespeares Othello - Iago has No Conscience :: GCSE English Literature Coursework

Iago of Othello  Ã‚   Iago has no conscience. He is an angry man and is happy to take down everyone around him to get what he wants: revenge. It is in Act 1, Scene 3, that he devises his evil plan. Here we can see inside Iago's mind. It is easy to see that his primary motivation is jealousy: jealousy that Othello may have slept with his wife, and jealousy that Othello chose Cassio over him. As he plots his revenge, it is clear Iago respects and cares for no one. (Act 1, Scene 3, 378-381) I hate the Moor, And it is thought abroad that ‘twixt my sheets H'as done my office. I know not if't be true, But I, for mere suspicion in that kind, Will do, as if for surety. Iago states here he suspects Othello may have slept with his wife. He is not sure of this, but declares that surety is not necessary. I believe Iago is not so much concerned with his wife being unfaithful, but that he can't stand the thought that it may have been with Othello. (Act 1, Scene 3, 381-382) He holds me well; The better shall my purpose work on him. This shows how conniving Iago is. He will use the fact that Othello trusts him to get his revenge. (Act 1, Scene 3, 383-385) Cassio's a proper man. Let me see now; To get his place, and to plume up my will In double knavery. How? How? Let's see. Here "double knavery" means to pull off one stunt and obtain two desired outcomes - to get Cassio's position (which he felt he deserved) and to make himself appear respectful for his ego's sake. Another benefit of getting Cassio's position is he can be closer to Othello. When he accomplishes this, he will be able to obtain even more trust from Othello and begin manipulating him to believe that Cassio and Desdemona are having an adulteress relationship: (Act 1, Scene 3, 386-389) After some time, to abuse Othello's ears That he is too familiar with his wife. He hath a person and a smooth dispose To be suspected - framed to make women false. Iago knows that Othello is a man of integrity and therefore, believes others to be so until proven differently. Iago has no respect for integrity and consequently, has no respect for Othello. This is obvious in his reference to Othello as an "ass" which can "tenderly be led by th' nose. Shakespeare's Othello - Iago has No Conscience :: GCSE English Literature Coursework Iago of Othello  Ã‚   Iago has no conscience. He is an angry man and is happy to take down everyone around him to get what he wants: revenge. It is in Act 1, Scene 3, that he devises his evil plan. Here we can see inside Iago's mind. It is easy to see that his primary motivation is jealousy: jealousy that Othello may have slept with his wife, and jealousy that Othello chose Cassio over him. As he plots his revenge, it is clear Iago respects and cares for no one. (Act 1, Scene 3, 378-381) I hate the Moor, And it is thought abroad that ‘twixt my sheets H'as done my office. I know not if't be true, But I, for mere suspicion in that kind, Will do, as if for surety. Iago states here he suspects Othello may have slept with his wife. He is not sure of this, but declares that surety is not necessary. I believe Iago is not so much concerned with his wife being unfaithful, but that he can't stand the thought that it may have been with Othello. (Act 1, Scene 3, 381-382) He holds me well; The better shall my purpose work on him. This shows how conniving Iago is. He will use the fact that Othello trusts him to get his revenge. (Act 1, Scene 3, 383-385) Cassio's a proper man. Let me see now; To get his place, and to plume up my will In double knavery. How? How? Let's see. Here "double knavery" means to pull off one stunt and obtain two desired outcomes - to get Cassio's position (which he felt he deserved) and to make himself appear respectful for his ego's sake. Another benefit of getting Cassio's position is he can be closer to Othello. When he accomplishes this, he will be able to obtain even more trust from Othello and begin manipulating him to believe that Cassio and Desdemona are having an adulteress relationship: (Act 1, Scene 3, 386-389) After some time, to abuse Othello's ears That he is too familiar with his wife. He hath a person and a smooth dispose To be suspected - framed to make women false. Iago knows that Othello is a man of integrity and therefore, believes others to be so until proven differently. Iago has no respect for integrity and consequently, has no respect for Othello. This is obvious in his reference to Othello as an "ass" which can "tenderly be led by th' nose.

Feeding and Fishing: the Issue Facing the U.S. and the Global Community

Feeding and Fishing: the Issue Facing the U.S. and the Global Community â€Å"Give a man a fish, feed him for a day; teach a man to fish, feed him for life.† When translated into agricultural terms, this Chinese proverb confronts the question facing the United States and the global community today. The United States has been providing food for the rest of the world for years. While this illustration of care is commendable, it also has a downside. In the future, and debatably in the present, it is not possible for the United States to continue providing for other countries. An increasing world population, a lack of methods for effectively sharing crop surpluses, and a decrease in the amount of food produced by agriculture has created a situation where it is impossible for the United States to feed the world; instead we must teach the world how to feed, or fish, for themselves. Egypt is a prime example of the U.S. feeding the world. Between 1979 and 1991, the U.S. provided Egypt with over three billion dollars in wheat and corn. According to W. Fornos, â€Å"every third loaf of bread baked in Egypt is made from wheat and corn ground in the United States† (Fornos). The U.S. is currently giving the world fish, but we cannot continue to do so. The first issue limiting the ability of the world to feed itself is the increasing world population. According to the U.S. Census Bureau, as cited by Agroecology Professor Dave Wilson, the world population was one billion in 1804. The world population doubled itself in 154 years and has since continued to double exponentially. In 1987, the world population was 5 billion, and in 13 years, the population doubled once again. Accompanying 1999 was a world population ... ...tion Development.† Irrigation and Drainage. Vol. 52. 2003. 31-38. McMullum, et al. â€Å"Application of Modern Biotechnology to Food and Agriculture; Food Systems Perspective.† Journal of Nutrition, Education, and Behavior. Vol. 35. 6. Nov/Dec. 2003. 319, 326-328. Academic Search Premier. â€Å"Population Growth and Food Needs.† Population Reports. 25. 4. 3. 1997. 24, Feb. 2005. Academic Search Premier. Pretty, Jules. â€Å"Agroecology in Developing Countries.† Environment. Vol. 45. Nov. 2003. Academic Search Premier. Serageldin, Ismali. â€Å"World Poverty and Hunger-the Challenge for Science.† Science. Vol. 296. 5565. 54. 17, Feb. 2005. Academic Search Elite. Wilson, Dave. â€Å"Homework Topic 6; Genetically Engineered Crops.† Class lecture. 25, Feb. 2005. Wilson, Dave. â€Å"Population Growth.† Class lecture. 7, Feb. 2005.

Comparison assessment beetween Miss Trunchbull and Mrs Honey Essay

In ‘Matilda’ the director clearly shows the contrast between Miss Trunchbull and Miss Honey. Even though they share the same job occupation their characteristics contrast entirely. For example the behaviour of the two teachers is unalike. The director uses a range of techniques to convey this. Roald Dahl chooses the teachers name specifically to reflect that character. This sets up an expectation, to the audience, of the character’s role and personality in the film. Miss Trunchbull’s name can be dispersed into two words. ‘Trunch’ can be associated with the word ‘Truncheon’. A violent, harmful, dominant weapon as a result the audience may interpret her as a violent person and sets up an expectation of her character. ‘Bull’ is an animal that behaves aggressively. It loses its temper easily and is very strong and dominant. This reflects on Miss Trunchbull’s character and leaves the audience a source to judge upon w hat role she plays in the film. However this is not the case with Miss Honey. The connotations associated with her name are totally opposite to that of Miss Trunchbull. ‘Honey’ is a sweet substance and is taken as a treat; therefore her name has connotations of sweet and delightful. Others may interpret her as a pushover. Normally you relate kind, sweet people as pushovers because they don’t have the confidence to stand up for themselves The actor that plays Miss Honey clearly displays Miss Honey’s behaviour, so that it contrasts to the Behaviour of Miss Trunchbull. Miss Honey’s behaviour is nervous and timid and is conveyed in her acting. It is conveyed by her fumbling her fingers and staring at the floor. When Miss Honey walks into Miss Trunchbull’s office her body language is discrete. She looks at the floor and fumbles her fingers indicating that she is uncomfortable and doesn’t feel welcome. The audience observe that she is the less dominant because of her displayed body language. Others may interpret her body language as scared and afraid of Miss Trunchbull. Miss Honey’s head down may indicate that she is trying to hide from Miss Trunchbull and feels intimidated by her. Unlike Miss Honey, Miss Trunchbull’s behaviour is intimidating and mean. It is shown through many key ways such as her gait, posture and speech. When Miss Honey comes to speak to her on behalf of Matilda, her posture is a critical way that she shows the audience that this is her territory. She rolled back shoulders and straight masculine arms with shut legs shows that she is confident. In  comparison with Miss Honey there is a big difference. Straight arms compared to fumbling fingers shows a clear contrast in their confident. Miss Trunchbull’s speech is a key conductor of her mean, intimidating behaviour.

Cultural Events and Savings Essay

The article â€Å"Cultural Events and Differences: Evidence from Immigrants to the United Arab Emirates† is catches attention, because it provides through examination of main reasons of immigration and touches the living conditions and experience of being an immigrant. It is known that the potential of UAE is growing and thus the country has to be studied and its policy should be evaluated. Furthermore, the article is interesting, because it examines impact o foreign region ob immigrant’s behavioral patterns and provides examples from different countries. Actually, the article raises debates whether immigrants should adapt to foreign culture or to preserve their culture. Moreover, the strength of the article is that is investigates the nature of savings. Certainly, this article contains lots of new interesting and relevant material for contemporary world, because public is interested in what is going on in Arab world. It is interesting to know, for example, that immigrants from developing countries tend to be more uniform regarding education, age, household and occupation, though they are provided with lower income than that of Arab countries. Nevertheless, the differences in national savings haven’t been investigated yet. The authors of the article suggest that UAE completely depends on immigrant workers.   Apparently, cultural factors have strong impact on governmental policies, partly because they tend to influence saving behavior in the long run in the countries which are considered ethnically diverse. Nevertheless, cultural factors play rather important, though not dominant role in determining differences in household savings. The authors provide several conclusions: the level of per capital income and growth income influences the ability to save; interest rates and inflation rates appear to be insignificant. The article refers to â€Å"Legal, Technological and Political Force† as it examines the impact of cultural differences on the governmental policy within UAE. The article provides information regarding political and economic forces caused the increase of immigration. References Al-Wad, M. & Elhiraika, A. (2003, July). Cultural Events and Differences: Evidence from Immigrants to the United Arab Emirates. The Journal of Development Studies, 39, 5, 139-151.

An Idea That Failed

Kamala who worked in â€Å"ICC bank† used to reach her workplace In her car. One day,she was unable to start her car and as she has to report In office 9 o'clock sharp but she did not have time to get the car repaired-So she decided to take a bus. When the bus arrived,it was overcrowded but if she waited for another one,she would have not made it in time. So she boarded it and somehow managed to reach office in time. On reaching the bank,she remembered carrying her cell phone with her. When she checked her Jeans pocket†¦ She was shocked on not finding it there.Her pocket was empty. Maybe It was stolen. â€Å"l should not have boarded a crowded bus. Maybe somebody has picked my pocket there†,she said to herself-Manager Gathers too had just reached the bank-seeing Comma's face she understood that there was some problem. â€Å"What is the matter,Kamala? Why are you looking upset? L's everything all asked. â€Å"Marry,my cell phone has been stolen†,spoke Kamala nervously. â€Å"You did not have any cell phone! â€Å"surprised Gathers said. â€Å"Yesterday was my birthday and It was a birthday gift to me from my husband. He had bought It yesterday†,salad Kamala.Olathe is saddled us go to the Police Station and get a report lodged†,Gathers said. Disappointed Kamala will it matter? I won't get the cell phone back† â€Å"We must get a complaint lodged for every crime. The thief will soon be caught you see and you will get your cell phone back†,the manager assured. 000 so both went to the Police station. Landscape venue who was on duty writing the report inquired,†What was your phone number? â€Å". Then Venue dialed the number from his phone. â€Å"l am sure. You will not get through. The thief either must have taken out the Simi card or must have switched off the phone†,a disillusioned Kamala said.The cleverest of the thief's also commits a mistake somewhere. Maybe your cell phone thief leaves a clue too†,Landscape said. On not getting the number for the first time,the inspector tried again. â€Å"it is said softly and switched on his speaker phone. A voice responded,†Hello,who is speaking? † â€Å"There is a good news for you. Our company rewards a cell phone buyer every month with two tickets to Ago†¦ The winner's name is taken out through lottery. You are the lucky one who has purchased a cell phone yesterday and won the prize. Elf you do not want to avail of the trip,we will offer you a cash of prize RSI. ,OOH,† Venue said. Gathers and Kamala understood that Venue played a trick to trap the thief in the net. And he was successful too. The thief responded,†Ã¢â‚¬Ëœ will avail of the cash prize. When and where will I get the prize. † â€Å"You can come to our office if you want. Or we could send our officer to hand you over the prize. You will Just have to come and show your cell phone to us†, said the inspector. â€Å"l will come to your the thief â€Å"Anytime. Our address is 8-404,Maharani Bag and my name is Venue An excited thief said,†Ã¢â‚¬Ëœ will be there in two hours†.Keeping the phone down the inspector said,† The thief seems very greedy. He did not even think where we got his number from. ‘ was apprehending that if he enquired that I would not know what to say. † A surprised Kamala asked,†whose address was the one you gave? † â€Å"The same company's from where you bought your cell phone. Krishna is my friend and he is General Manager of that company†,informed Venue. â€Å"You managed to ensure the thief very Gathers. â€Å"You may leave now. Len an hours time you will get your cell phone and the thief too will be caught,† Venue assured. L forgot to tell you that my cell phone has a small Barbie sticker on its inside by my aught†,informed Kamala â€Å"This will make it easier to identify your cell Venue. One hour later inspector re ached his friend Krishna office and told him about everything. Curtain. SAA has no idea. Speaking arrogantly to Krishna,Parade said â€Å"Did you rang me up? I have come to collect my prize of RSI. 50,OOH† â€Å"Where is your cell phone? â€Å"asked Krishna. Parade showed the cell phone. Krishna opened the cell phone and saw Barbie sticker inside it. He said,†Come out,inspector. The person you were waiting for is here† When Parade saw Venue he was shocked.He could not even dream that he would be aught like this one day. â€Å"How many cell phones have you stolen till now? â€Å"Landscape asked sternly. â€Å"Five hundred†,parade,petrified could not lie. Venue arrested Parade immediately and put him behind bars. Kamala was too happy getting back her cell phone. She praised Venue for his efficiency. â€Å"More than my efficiency it was the foolishness of parade that helped. Elf he had not talked on the cell phone,my plan would not have worked. Parade is very clever but committed a mistake this time†,Venue said. Parade was punished with one year imprisonment. Many of his friends too were put behind bars.They were very happy to see him but when they learnt about his foolishness,they all had a hearty laugh. His best friend Panda said,†Parade,you are so clever. Everyone calls you clever,Parade. How could you commit such a mistake? You should not have talked with that cell phone. You should have at least enquired. After all,the buyer was to get a prize, not you. You had stolen it. You must have thought that you would get RSI. 50,OOH easily. You have not only made a fool of yourself but also let us down too† Parade could not speak a word and sat with a hung face. His accomplices too refused to accept him as his leader. THE END

Major Organizational institutions Essay

The major international organizations were all formed under one consensus developed by various countries. Each organization was created to fit a specific purpose, but they all follow a unique passion towards socio-economic stability on a global front, better governance, financial transparency, and respect for human rights (Karns, 2004). The organizations discussed in this paper are as follows: 1. International Monetary Fund 2. World Trade Organization 3. United Nations 4. Interpol 5. European Union The International Monetary Fund was created in 1944 with the sole objective of stabilizing exchange rates and the international monetary system. It consists of approximately 185 member countries. The structural hierarchy is topped by a managing director who is selected by executive directors representing various countries. The World Trade Organization was created in 1995 with the objective of liberalization international trade with checks and balances. Consisting of 153 members that constitute 95% of the total world trade, it is governed by a Ministerial Conference, which meets every two years and also appoints the head, the Director General. The WTO is further divided into the General council which deals with day to day affairs and policy decisions. The United Nations was first accepted by the world community through ratification in 1945. Comprising of 6 units ; The General Assembly, the Security Council, the Economic and Social Council, the Secretariat and the International Court of Justice, the UN’s main aim is to facilitate co-operation in the fields of international justice, international law, international security, global economic development, the reduction of poverty and in the end, sustaining world peace. Interpol was created to develop international police co-operation between various countries. The organization is headed by a Secretary General and is governed by the Interpol General Assembly. Its underlying principle relies on the fact that Interpol facilitates information between member countries regarding drug trafficking, organized crime, weapon smuggling and so forth. Interpol cannot get political and thus remains a neutral organization. Its constitution forbids it to act between issues overlapping two member states regarding military, political or religious issues. The European Union constitutes 3 organizations. These include; European Economic Community, European Coal and Steel Community, and the European Atomic Energy Community. The European Union is composed of various states from Europe, thus making it a regional yet international organization. The European Union acts as one country with one currency (with the exception of United Kingdom) and a single trade policy (McCormick, 2005). In terms of economic development, the united nations development program deals entirely with facilitating resources to poorer countries and helping them develop on the agenda that the current first world nations used. The UNDP provides economic assistance, a variety of policy adjustments and macroeconomic stability programs to impoverished nations requiring aid. The International monetary fund further helps poor countries recover from fiscal debt that Governments accumulate. This helps Governments mitigate their financial and economic needs on a short term immediate basis. Countries suffering from bankruptcy often avail the IMF last fund sponsor program which allows them to borrow from the IMF. The IMF then acts as the lender to the country in need, state bank. The World Trade Organization was one of the first international organizations to spread the globalization bubble. Its view was to see the whole world as one single market and thus eliminate all barriers to trade. The reason being value of competition, low production costs and specialization in country specific production processes to increase quality of goods produced for everyone. The World Trade Organization promotes free and unrestricted trade by doing away with protectionist policies. This means that the WTO and its member countries trade freely with each other without quotas and restrictions. However, unfortunately that has not always been the case in the world market, as many developing countries seek to protect their infant industries. However, with time, the WTO has introduced a set of new policies which force member countries to be receptive to foreign competition in the hope of creating a more effective and efficient way of production that benefits all of mankind. The WTO functions under the ideology of capitalism hoping that with increased open trade, wealth will be created which will trickle down to the masses (Bossche, 2008). Terrorism, war crimes and international order has become a major issue in the rapidly changing world scenario. With continuous major war being fought in various parts of the world during the past 9 years, various new global organizations have come about to ensure the stability of peace. The United Nations, since 1945 has played an active role in these scenarios through one of its organs; the United Nations Security Council. Representing 5 major powers, Russia, United States, China, France and United Kingdom, the UN Security Council tackles global terrorism through sanctions and banning groups forcing member nations to act upon the rebel groups creating problems. Sanctions are slapped against nations abusing their force or subduing other nations in their thirst for power. To ensure neutrality and consensus, all 5 members on the council have the right to veto any resolution passed in the Security Council. This task is further augmented by Interpol which provides co-ordination between the different police forces of the member states. Interpol often issues international warrants for terrorist wanted by different states residing in other states. This allows for a more coordinated effort towards sustaining international order and keeping track of problems facing different nations such as arms smuggling, drug smuggling and human trafficking (Dana, 2000). The United Nations also has an International Court of Justice where various ousted political leaders are tried fairly for the crimes they committed against humanity, their people and other sovereign states. This court of justice ensures that war crimes do not go unpunished and are globally recognized by all member states (Roberts, 1994). One of the main organizations that undertake in capital investment is the Organization for Economic Co-operation and Development. The OECD brings together various governments in order to provide sustainable development plans that various countries can use to break free from their economic turmoil. It also ensures the steady and sustainable flow of Human Capital Investment throughout the world. Raising living standards, maintaining financial stability and assisting other world economies through contributing in terms of intellect and physical economic strength is also part of the OECD mission. The future prospects for International Organizations are quite diverse when we observe the trends various organizations have seen over the past few years. With the dramatically changed global environment and thought process, a lot of organizations built on previous assumptions require change if they are to have any future prospects at all. The sudden shift to environmental change and the necessity to preserve our planet has put the focus of many governments, NGO’s and the majority of the population on Earth to shift their attention towards organizations that currently cater to this mind set. Environment change is being view increasingly as a step towards destruction man takes every day. When we talk about governance by such organizations, the prospects look constructive. Most people are turning towards such organizations because it caters to their â€Å"living green† ideology. This ideology is now engulfing our everyday life in the form of new foreign policies, industrial growth and development, and everyday management affairs ranging from the construction of roads to the syllabi of educational institutes. Day by day, companies adopt eco-friendly governance policies because that is what the people want and respect (Karns, 2004). Secondly, we have seen the failure of the United Nations once again. The International Court of Justice at max provides advice, the Security Council is tainted with bias behavior from certain states towards their allies and the resolutions tabled are often rejected on the basis of the veto vote. It is, without a doubt, an emerging thought, that governance by such organizations that police some and free others do not work. Thus, to think that such organizations can bring about global governance is mistaken. People have lost faith in such organizations and more people are doing so day by day. Finally, international monetary institutions and development support agencies are being shunned by developing countries to an alarming success. The false paradigm theory has broken away the countries that were once colonized. They now feel that imperial colonialism has now over-ridden their way of life and these international bodies promote it. Also, the fact that the policies and governance techniques these organizations offer are barely equip to deal with the problems threatening the developing nations of today. They might be well intended but fail to address the ailments of development countries. IMF policies and World Bank regulations are seen more as restrictions rather than good governance techniques to bring economies out of debt. Thus, their policies are often ignored. To presume that good governance can be bought through such international organizations only highlights the weak prospects that such organizations have in global governance when it comes to economic stability. References: Bossche, P. V. D. (2008). The Law and Policy of the World Trade Organization. Cambridge University Press. Dana, D. (2000). Conflict Resolution. McGraw-Hill. Diehl, P. (2005). The Politics of Global Governance: International Organizations in an Interdependent World. Lynne Rienner Publishers Karns, M. P. (2004). International Organizations: The Politics and Processes of Global Governance. Lynne Rienner Publishers McCormick, J. (2005). Understanding the European Union: A Concise Introduction. Palgrave Macmillan. Roberts, A. (1994). United Nations Divided World: the UN’s Roles in International Relations. Oxford University Press.

Healthcare Reforms In Hawaii And Massachusetts Essay

Healthcare Reforms In Hawaii And Massachusetts - Essay Example Hawaii was the first state to pass legislation, Hawaii’s Prepaid Health Care Act 1974, which requires employers to provide employees with health insurance. The state has remained consistently pro-health reforms and this is evident in the legislation that was passed in 2009 that created the Hawaii Health Authority. This authority has been mandated to plan for healthcare needs of the state and to determine future capacity needs for the state’s health providers, support services, equipment, and facilities. Hawaii’s support for health reforms is also seen in Hawaii Health Authority’s task of determining, implementing and maintaining the waivers that are available to the state’s residents under federal law. Similarly, Massachusetts has demonstrated its support for health reforms by adopting health care reform laws like the one it adopted in 2006. This law required residents to have insurance coverage, employers to provide employees with health insurance cover and pledged that the state would provide residents earning below 150% of the federal poverty level (FPL) with free health care insurance. The state amended this law in 2008 and 2010 in order to realign its health reform goals to those of the Federal Affordable Care Act. The Commonwealth Health Insurance Connector Authority is Massachusetts’ equivalence of Hawaii Health Authority (Bauer & Hollier, 2012). Despite their support for health reforms, there exist disparities in how these reforms play out in the two states.

Art Review Essay Example | Topics and Well Written Essays - 500 words

Art Review - Essay Example Most of the foot prints are in opposite directions or overlapping and crossing each other. The background has been further ornamented with colourful blocks and circular designs in bright blue, orange, green and yellow shades. The larger footprints are mainly in darker colours of blacks and greys while the smaller ones are dominated with brighter colours of orange and yellow. The painting has been used as a metaphor for Africa. The merge of bright, vibrant colours is used to represent the political clashes and instability in Africa. The artist has used two fragmented canvases which have footprint designs in different directions, crossing each other or in the same direction. This is a metaphor for the conflicting agendas and ideologies of the African people and the two canvases represent the fragmentation of the continent on the basis of politics, culture and social agendas. Isichei explains that the painting is a representation of the continent’s instability which has disabled them from discovering their beautiful land and succumbing to contradictory ideas, agendas and political mayhem, exploiting their beautiful land. The painting grabbed my attention at the Denver Art Mueseum because of its boldness and vibrant display. The beauty of the art lies in its simplicity to convey a social or a personal idea, yet in a visually attractive manner. Still Searching by Romanus Isichei appeared as an appealing display on the wall, screaming for attention with its vivacious colours and straightforwardness. To represent the African instability only with the crossing footprints in the background of contrasting shades is indeed a beauty in itself. I have always loved to play with different contrasting bright colours and paintings that use them in a shrewd manner to express feelings and meaning, always fascinates me. I observe the paintings in Denver Art Museum that try to reach out to the observer with

Long-term financing of companies Essay Example | Topics and Well Written Essays - 1500 words

Long-term financing of companies - Essay Example If a company that has already undergone an IPO needs to raise substantial capital again and it chooses to issue new equity in order to finance it, this is called seasoned equity offering (Butler, Grullon & Wetson 2005). Seasoned equity offerings come in different variations as regards the terms of the offer such as offering the stocks at investors-at-large or through a rights offerings. Under the rights offering, the company can issue rights to the purchasing the new shares to recipient investors on a proportionate basis (Weller 1962). These rights can either be sold or utilised depending on the recipient investors (Weller 1962). In 2008, Tesco Plc has seasoned equity offering that amounted to 130 million pounds; this is consist of 3 million pounds in issue capital, and 127 million pounds in share premium (Tesco Plc 2009). According to Tesco Plc, part of this seasoned equity offering is to issue shares as stock options are exercised. The rest of it is used for additional financing to the company. On the other hand, Marks & Spencer has issued 0.5 million pounds in equity (Marks & Spencer 2009). In contrast to Tesco Plc, this issue of shares by Marks & Spencer is due to exercise of options. However, seasoned equity offerings are used by the two companies in raising funds to finance their operations. One major advantage of this source of long-term funding is the huge amount of capital that large companies such as Tesco and Marks & Spencer have access in the form of the stock market. As regards the size of the capital raised, seasoned offerings in the stock market really provide huge advantages to these companie s. Seasoned equity offerings also have some shortcomings. For one, after an SEO, it is very usual that the stock price of the company gets lower because of the increase in price. There is a period of time before the price of the stocks will incorporate the information about the company, and this

Organization and Management Essay Example | Topics and Well Written Essays - 2250 words - 1

Organization and Management - Essay Example On the other hand, there are companies that were able to successfully adopt empowerment strategies, such as the Ritz-Carlton Hotel Company. The Ritz-Carlton Hotel Company was based on the ideals of innovative customer service and is widely known for pleasure-seeking comfort and luxury. The Ritz-Carlton is a pioneer in employee training. It has transformed the service industry by achieving the Malcolm Baldrige National Quality Award. It was the only hotel company to receive the prestigious award. Currently, the Ritz-Carlton Hotel Company is supervised by Marriott International, Inc., a top international hospitality company. Mr. Marriott has created an approach that places emphasis on their human resources and provide greater satisfaction and value for the company and its employees: â€Å"1. Get it right the first time, 2. Money isn’t the only thing, 3. Create a caring workplace, 4. Promote from within, and 5. Build your brand†. Empowering employees and improving customer service were the thrusts underlying the self-motivated and autonomous work teams at the Ritz-Carlton Company. After receiving the Malcolm Bardrige Award, the Ritz-Carlton Company realised that empowering their employees, especially their front-line staff, would further motivate the staff and create an excellent customer service. With these objectives in mind, the company’s executive group embarked on an empowerment programme. After a thorough assessment of existing processes in each department, the executive group discovered several management duties for potential reassignment to hourly staff. These involved projecting budgets, interviewing and choosing members of the team, collecting payroll accounts, and creating work schedules. The company created a mission statement that was approved by the entire staff. The front-line staff began the trial with self-directed activities by acquiring the duties of the

Auditing Theory And Practice Essay Example | Topics and Well Written Essays - 2500 words

Auditing Theory And Practice - Essay Example Maybe owing to your big size, the previous audit company needed additional resources in terms of man and woman power and facilities to meet your needs. When the previous audit company held a meeting with the directors in which their responsibilities and the responsibilities of Krypton were discussed in details. The Audit Company and krypton agreed to the terms of the audit engagement. The terms of engagement which they agreed upon were documented in a form of a letter of engagement. They then discussed and agreed on the basis on which the audit fee was to be computed and any billing arrangements. We then do not understand why this is still a problem yet to be solved The last audited accounts were those for the period ended 31st December 2003. As we conduct this audit, making comparatives to the year 2004, it will make good sense if we first conduct an audit for the year 2004. To determine the implications of the figures, analytical procedures are usually performed on the financial in formation. Analytical procedures consist of mainly trend and ratio analysis with information being inferred from the resulting figures. From the financial statements of the company, the following was established. Ordinarily, a 10.16% increase in the cost of sales should lead to a corresponding decrease in stocks. Yet in this case, stocks have increased by 58.20%. The stock turnover ratio has also declined from 15.60 in 2004 to 10.86 in 2005. The stocks were expected to decrease and their increase might imply that employees could be selling their own goods brought from outside. The audit shall then focus on the existence of the stocks and their condition. In order to ascertain the genuineness of the stock figure, a revaluation test of the stocks will have to be performed to see whether their increase was as a result of a revaluation.

Shakespearean tragedies vs greek tragedies Research Paper

Shakespearean tragedies vs greek tragedies - Research Paper Example This paper aims to show elements of Greek tragedy that are present in Shakespearean tragedy, even though differences between them also exist. Macbeth Crime and punishment are the themes in Shakespeare famous tragedy, Macbeth. The lead character Macbeth is the typical Greek tragic hero because he has a tragic character flaw. This is â€Å"hubris† which also means extreme arrogance or pride that exceeds what is realistic. More accurately in ancient Greek context, it is actually a legal term that refers to actions that not only physically hurt, but also humiliate the victim, for the personal enjoyment of the abuser (Cohen, 1991). The crime therefore is not only in the harm caused but more in the pleasure taken by the abuser. In Greek tragedy, hubris, breach of hospitality, and murder are sins that are surely followed by punishment (Khare, 1998). In Greek tragedy, Paris displayed hubris when, despite the hospitality shown him by Menelaus of Sparta, he kidnapped Menelaus’ wi fe Helen, and because of this the city of Troy was destroyed. In comparison, Macbeth showed all three - hubris in his ambition to be king, murder in killing Duncan, Banquo, Lady Macduff and her children, and breach of hospitality when he murders King Duncan who was then a guest in his house. Many have likened Macbeth to Oedipus in Greek tragedy, because Oedipus was likewise guilty of all three sins. Like Macbeth, Oedipus also meets a violent death as punishment, which may be seen as the embodiment of â€Å"Nemesis† (Greek goddess of revenge) from another world (Khare, 1998, p. 196). In Greek tragedy, the Fates act as prophetesses who predict the future. In Shakespeare, the predictions are made by the three witches â€Å"or weird sisters† (Coddon, 1989). Witches are more in line with English culture and tradition, thus combining an English element with a Greek tragic element. In both instances, however, the predictions made by the Greek Fates and the Shakespearean witch es are not straightforward and have a hidden meaning that leads the hero to greater trouble. Finally, for both heroes, there is a realization in the end as well as spiritual growth, although it may have come too late for redemption. There are differences in plot between Macbeth and Oedipus, however. Oedipus committed parricide unknowingly, but Macbeth was fully aware of the evil of his deed. Oedipus reflects the classical Greek tragic element of divine intervention, which is the â€Å"perfect embodiment† in classic Greek literature. On the other hand, Macbeth is the â€Å"Renaissance† figure who â€Å"can be understood and ultimately criticised only by reference to defined standards of moral philosophy† (Sanders, 1968, p. 308). Macbeth also embodies elements of Western Christianity, whereas Oedipus reflects pre-Christian philosophy. Therefore, while Oedipus may be powerful in the ancient times because it conformed to the ethical standard of the day of Sophocles; likewise for Macbeth, which in its own style portrayed the ethical standard of Elizabethan England. The tragedy of Oedipus was the working of the gods in a divine-centric era. In Macbeth, man was the center and cause of the tragic act which reflected the Renaissance philosophy. Julius Caesar Julius Caesar is seen as a colossal hero, like Oedipus, who â€Å"

The importance of banqueting and what type of events there are and how Essay - 1

The importance of banqueting and what type of events there are and how banqueting fits in - Essay Example Many guests introduce each other during a banquet and thus one can consider banqueting as a social event. Here you meet new people and make friends. Even the marketers, now days, use banqueting to promote and advertise their products. Many marketers even hold lucky draws and other brand activities during a banquet and all of this signifies the great importance that banqueting holds for people of our generation. A special event is a one-time event and does not recur on a continuing basis. This makes it unique and it basically held for the purpose of ground breaking, grand opening or other significant moments in life. Concerts and job fairs are also considered as special programme because they cannot be repeated or reproduced. Since, special events are one-time events, special management techniques are required to make these events a success. Many people suffer from improper management of these events which kills the purpose of these events. Therefore, planning these events is the key. You need to make sure that you have the resources and manpower to arrange and successfully host the event. A good starting point in the event management is developing a check list of the resources that you need. A written checklist is important because it can be referred to in the future and important details are not forgotten. Once the event is successfully stage, you need to take some time after the event to evaluate the significance of the event, that is how well it was hosted and stage. For this, a written document is better because you can write down the details while still fresh, reducing the chances that you forget your mistake and they might reoccur again. These steps make events unique and fulfill the purpose of ho lding special events. Banqueting fits in any event as a closing gesture, and signifies the end of an event. The food that is to be

Creative Capitalism Essay Example for Free

Creative Capitalism Essay In an essay for TIME Magazine entitled â€Å"Making Capitalism More Creative,† multi-billionaire computer tycoon turned philanthropist Bill Gates (2008) espouses the potential for capitalism to flex and adapt in ways that can help address the needs of the poor or those in the developing Third World by creatively responding to them as markets with their own unique set of challenges, and as opportunities to build corporate brand recognition and prestige. In effect, Gates charges that by reconciling the self-interest of the profit imperative with that of the humanitarian drive, the world can make ‘lasting progress on the big inequities that remain. ’ Gates slyly implies that while governments, non-profit entities and other civic groups have gone to great lengths in these areas, such progress can sufficiently be hastened through the â€Å"[channeling] of market forces† and â€Å"innovation that’s tailored to the needs of the poorest.† One point of note in Gates’ piece is the benefits which accrue to corporations which can find business opportunities in the avenues of philanthropic interest. Gates opines that philanthropic recognition – such as industry report cards – go a long way to building a better brand that could potentially command the kind of consumer loyalty which makes such acts ultimately profitable. Also, Gates reminds readers that one of the reasons why the capitalist enterprise has so frequently overlooked the markets of the poor and the developing Third World is the extent to which their purchasing power is so limited as to remove them from its priorities. However, Gates notes that such a limitation applies only to individual purchasing power yet â€Å"one study found that the poorest two-thirds of the worlds population has some $5 trillion in purchasing power† and that oversight is largely a result of a failure to study their needs. Furthermore, Gates notes that because young people want to feel better about the institutions which employ them – â€Å"[they] want to feel like their company really is a be positive agent for change† – and as such, it becomes ultimately beneficial to engage in these positive acts because it is made up for with employee dedication and commitment. It becomes easier to recruit and retain them when they feel substantially invested in the company’s goals, especially if they mean more than meeting quarterly fiscal targets. It is on this note that it would be wise to consider what the implications are for companies that engage in such philanthrocapitalism with regards to performance appraisals. Not all employees are created equally and dedication to company goals does not necessarily obviate the need to review their performance and the means by which the company is able to successfully motivate them to the best of their ability. The primary consideration however, is the allocation of organizational rewards. Business consultant W. Edwards Deming (2000) defines a company’s obligations to be to all parties involved; not just to its shareholders, but to its employees, customers and the community it operates in. Therefore, any company which attempts to engage in the creative use of capitalism to address under prioritized markets (i.e., the poor and Third World) must also adopt a similar tact towards its employees. This means that organizational rewards should go beyond the conventional use of salary upgrades and promotions, but recognizing that employees will want to become more involved in the goals of the company which they respect – and that hierarchical superiority, compensation benefits or increased responsibilities are a moot point to such desires. This means acknowledging the areas at which they excel that can benefit the company in that regard, particularly innovation and strategic savvy. REFERENCES Gates, B. (2008, July 31). â€Å"Making Capitalism More Creative.† TIME Magazine. Retrieved September 4, 2008 from: http://www.time.com/time/business/article/0,8599,1828069,00.html Deming, W. E. (2000) The New Economics for Industry, Government, Education. The MIT Press.