Industrial Electronics Bonus

Industrial Electronics, Inc. Is an electronic equipment company that has annual sales exceeding $ 8 Billion. The company is set up by product line and operates as 16 divisions, reporting to four business managers. Unfortunately, due to the recession and the competitiveness of the emerging and developing industry, the bonus pool for the employees has decreased causing Issues with employee morale, and can overall affect the profitability of the organization If the company analyzed the ROI of turnover and training.Therefore, the company reviewed the current bonus structure and proposed a new bonus structure for the Division Managers, as they currently felt their contributions to their departments was not being rewarded. The current bonus system focus on the overall goals of the company. Although it is essential to set and communicate company goals, having this one structure as the only measurement for bonus can be detrimental. If one or a few departments contribute to the company not ac hieving their goals, this means that all employees and departments are not being recognized for their contributions.The current goal is a 10% bonus pool of the company's profitability after taxes in excess of 12& of the company's book net worth allocated for the bonus pool. The proposed bonus structure Is set up to drive the performance more directly related to the division, but not does not focus on any overall company goals. In order to stay in business the overall goals and financial metrics need to be a part of the bonus system. The targets for this new structure are set and negotiated during the budgeting process.If the division managers are going to be held to achieve and/or et these standards their input should be taken into consideration during the budgeting process if they are not directing Involved or responsible for the budgets. This will allow the organization to have the buy In and accountability from the Division Managers and their employees throughout the year in achi eving these targets. This will also allow for employees to be more responsible for controllable cost and waste.The proposed bonus system percentage awards of the Division Managers Base Salary would be: Dillon A : 63. 5% 150% (this is the maximum amount payable) DiViSion B. Division C: 63. 7% Division D: 68 Division E. 26. 2% An optimal bonus plan for Industrial Electronics, would be one that comprises both and success overall in order to pay out bonus and provide employment, but they can drive this overall company success also through operational excellence, key metrics and standards at the divisional level.Therefore, the bonus plan should include company objective and division objective. The divisional objectives should be directly related that divisions related business relevance to the organization, with set key performance indicators which can include sales, output, controllable costs as labor, reduce costs, waste, turnover, etc. The bonus plan also should not be structured as a n all aqua r nothing.For example, maybe it the division does not achieve it sales goals but maintain the controllable expense in accordance with the achieved sales, they receive a partial bonus. If the division does not hit its target but the company does the employees still received a portion of the bonus, as they are part of the organizational teams overall success. Their individual performance behaviors or lack thereof, should be addressed during their buy seines reviews and/or salary review and increases.

Loans & Advances of Dhaka Bank

Home  » Business  » Economics  » Report on Procudure for Distributing Loans and Advance at Dhaka Bank Report on Procudure for Distributing Loans and Advance at Dhaka Bank on March 20, 2013 in Economics [pic][pic]1. a. Introduction Internship program is a pre-requisite for acquiring M. B. A. degree. Before completion of the degree, a student must, undergo the Internship program. As the classroom discussion alone cannot make a student perfect in handling the real business situation, therefore, it is an opportunity for the students to know about the real life situation through this program.The program consists of three phases: 1. The orientation of the Intern with the organization, its function and performance. 2. The project work pertaining to a particular problem or problems matching with the Intern’s area of specialization and organizational requirement. 3. The report writing to summarize the Intern’s analysis, findings and achievements in the proceeding of the fo llowings. 1. b. Objectives of the Report: The report has two objectives: 1. General Objective 2. Specific Objective 1) General objectives of the report: The general objective of the report is to complete the internship.As per requirement of MBA program of Chittagong University, a student need to work in a business organization for two months to acquire practical knowledge about real business operations of a company. 2) Specific objective of the report: The specific objective of this report is to find and analyze the Credit facilities (its outstanding, recovery, classified loans etc), approval and monitoring process of Dhaka Bank Limited, Local office. It will also include gathering an idea about the securities behind the loan facilities and issuing different bank guarantees.The detail objectives of my study are as follows- †¢   To access the credit structure of banks in practice. †¢   To measure the effectiveness of the selected banks in utilization of their available deposit and resources. †¢   To identify the relationship with their customers. †¢   To identify the loan recovery performances of the selected banks. †¢   To find out the deposit utilization problems. †¢   To find out the implementation of credit risk management policy of the selected banks. †¢   To find out the implementation of the credit risk grading manual of Bangladesh bank by the selected banks. To find out the unsound credit according to the credit risk management policy. 1. c. Methodology Methodology of the study: This report is mainly prepared by the secondary sources of information & some few primary sources of information like – O Direct observation. O Information discussion with professionals. O Questioning the concerned persons. The secondary sources of my information – O Annual reports of DBL. O Credit rating report of DBL by credit rating information & services limited. O Desk report of the related department. O Credit manual information. O Different reference books of the library.O Some of my course elements as related to this report. 1. d . Scope of the study: This report will cover an organizational overview of Dhaka bank. It will give a wide view of the different stages of credit appraisal system of Dhaka bank, starting from the loan application to Loan disbursement and the comparison between standard and existing credit appraisal system of a Bank. The study is organized as follows: †¢   Credit profile of the selected banks. †¢   Loan recovery. †¢   The nature of default. †¢   Credit management and guidelines. †¢   Analysis of the findings and recommendation. 1. e.Limitations There are some limitations I had to face while preparing this report. It is very difficult to collect some of the important data and information. There is some information very secret and the Bank didn’t want to provide this information. But this information may help to build a go od report. Another limitation is availability of the data. The bank doesn’t have sufficient documents of the interest amount they collect from different loans. For this there is no specific profit calculation of the credit department. So, These kinds of limitations I faced while preparing the report. . a. Dhaka Bank Limited DHAKA BANK LIMITED was incorporated as a public limited Company on 6th April 1995 under the company act. 1994 and started it’s commercial operation on June 05, 1995 as a private sector bank. The bank started its journey with an authorized capital of Tk. 1,000. 00 million and paid up capital of Tk. 100. 00 million. The strength of a bank depends on its management team. The Employer in Dhaka Bank is proud to have a team of highly motivated, well-educated and experienced executives who have been contributing substantially in the continued progress of the bank.The marketing activities at the Dhaka Bank are very implicit and vast comparing to that of oth er bank in the country today. The Philosophy of the bank is â€Å"EXCELENCE IN BANKING†. Dhaka Bank is always willing to offer new product features to the client. Besides the applications of these products or services are prepared in a very modern way so that the service can be provided in least time required. The Credit facilities approved by Dhaka Bank are increasing day by day because of its well-organized and trained management and also well-equipped facilities.In recent time banking sector becomes very competitive and without giving good and attractive facilities and service no bank can survive in this time. Dhaka Bank is also trying to provide good service to keep going with this competition. 2. b. Mission Statement: To be the premier financial institution in the country providing high quality products & services backed by latest technology and a team of highly motivated personnel to deliver Excellence in Banking. 2. c. Vision Statement: At Dhaka Bank, we draw our inspi ration from the distant stars.Our term is committed to assure a standard that6 makes every banking transaction a pleasurable experience. Our endeavor is to offer you razor sharp sparkle through accuracy, reliability, timely delivery, cutting edge technology, and tailored solution for business needs, global reach in trade and commerce and high yield on your investments. Our people, products and processes are aligned to meet the demand of our discerning customers. Our goal is to achieve a distinction like the luminaries in the sky. Our prime objective is to deliver a quality that demonstrates a true reflection of our vision- Excellence in Banking. . d. Slogan: Excellence in Banking. 2. e. Company Philosophy The motto or the philosophy of the Bank is â€Å"Excellence in Banking†. Whether in Personal, Corporate, Treasury or Trade transactions of Dhaka Bank Limited is committed to provide the best. Meeting the demand of the bank’s discerning customers is not the sole object ive. The Bank endeavor to deliver a quality that makes every transaction a pleasurable experience. Dhaka Bank feels that, if they can meet maximum clientele requirements in less time with efficiency, then they will be able to accomplish a successful business in the world of banking.Their main objective is – they want to provide every single customer service available in today’s banking procedure for their clientele. Thus they can guarantee the excellence in banking to their valuable customers. 2. f. Company Activities and Performances Paid up Capital The paid up capital of Dhaka Bank Limited amounted to Tk. 1,547 million as on December 31, 2008 which was Tk. 100 million when the Bank started its operation. The total equity (capital and reserves) of the Bank as on December 31, 2008 stood at Tk. 3125 million. Deposits A strong deposit base is critical for success of a bank.During the years the Bank has mobilized a substantial amount in deposits in transactional and savin gs account. The deposit base of the bank continued to register a steady growth and stood at Tk. 48,731 million excluding call as of 31 December 2008 compared to Tk. 41,554 million of the previous year registered a 17% growth. Investment Dhaka Bank has diversified its investment portfolio through Lease Financing, Hire Purchase, and Capital Market Operations besides the investment in treasury bills and Prize Bonds. The emphasis on high quality investment has ensured the bank to maximize its profit.Dhaka Bank Limited is a member of the Dhaka Stock Exchange and Chittagong Stock Exchange. A specialized unit of the Bank, the Investment Division manages the Bank’s portfolio and actively participates in the screen-based on-line trading of both the Stock Exchanges. Profit Dhaka Bank Limited registered an operating profit of Tk. 2,010 million in 2008 compared to Tk. 1,183 million in 2007 making a growth of 70%. After all provisions including general provisions on unclassified loans, pr ofit before tax stood at Tk. 1,531 million. Provision for tax for the year 2008 amounted to Tk. 27 million. The net profit of the bank as on 31 December 2008 stood at Tk. 704 million compared to previous year’s Tk. 580 million making growth of 21%. Earning per share (EPS) was Tk. 46. 06 in 2007 compared to Tk. 45. 17 in 2007. Loans and Advances The Bank implemented the system of credit risk assessment and lending procedures by stricter separation of responsibilities between risk assessment, lending decisions and monitoring functions to improve the quality and soundness of loan portfolio. The Bank recorded a 17 % growth in advances with a local loans and advances portfolio of Tk. 9,972 million at the end of December 2008 compared to Tk. 34049 million at the end of December 2007. As of 31 December 2008, 96. 85 % of the total Bank’s loan portfolio was regular while only 3. 15 % of the total portfolio was non-performing as compared to 1. 64 % of 2007. Bank made required pr ovision as on 31 December against performing loans as per rate and classification norm provided by Bangladesh Bank (se note-2c). The volume of non-performing loans stood at Tk. 1,258 million in 2008 from Tk. 554 million in 2007. Of the total loan provision of Tk. 04 million, Tk. 465 million was general provision, which was 51 % of total provision. The rest Tk. 439 million was against the classified accounts. 1. Non-performing loan 2. Regular Loan A wide range of business industries and sectors constitutes the Bank’s advance portfolio. Major sectors where the Bank extended credit include steel and engineering, ship breaking, edible oil, sugar, housing and construction, pharmaceuticals, chemicals, electronic and automobiles, energy and power, service industries, trade finance, personal or consumer credit, leasing etc.The Bank continued to support Small and Medium Enterprises (SME) and expended credit facilities to them through its SME Cell. Sector wise allocation of advances re veals a well-diversified portfolio of the Bank with balance exposure in different sectors. High concentration sectors are textile and garment industries with outstanding of Tk. 7,524 million, housing and construction with Tk. 4,093 million, food and allied industries with Tk. 2,949 million and engineering and metal including ship braking with Tk. 1,903 million as at 31 December 2008. Customer ServiceCustomer is in the core of everything a service-oriented company does. Accuracy, reliability, and timely delivery are the key elements of the Dhaka Bank’s service. Well-qualified and experienced officials always prepared to provide efficient, personalized and quality service man Dhaka Bank Limited. The banks prime objective is to provide high quality product and services to the customers. The bank also performs according to the needs of its corporate clients and provides a comprehensive range of financial services to national and multinational companies. International Trade & Fore ign ExchangeInternational trade constituted the major business activity conducted by the bank. Dhaka Bank offer a full range of trade finance services, namely, Issue, Advising and Confirmation of documentary Credits; arranging forward Exchange cover; Pre-shipment and post- shipment finance; Negotiation and purchase of Export bill; Discounting of bills of Exchange, Collection of bills etc. In the year 2008, Dhaka Bank Limited was active in extending services to their valued clients related with import business. As of 31st December 2008 the import volume was Tk. 49,496 million compared to the volume of 2006 for Tk. 6,277 million marking as increase of 7% from the last year. Dhaka Bank Limited experienced sound growth of export business in 2007 from 2006. The volume of export business rose to Tk. 31,081 million from Tk. 23,269 million in 2007 showing an increase of 34%. Branches Dhaka Bank has opened already 41 branches in different Cities, Places and areas in Dhaka and also in Chittag ong, Sylhet, Narayangonj, Norshingdi and Savar. This shows the banks commitment to provide services to their valued customers through an extensive branch network at all commercially important places across the country.They also have planned to open more branches in the sort coming year. These branches are well decorated and well secured with the new technologies. Human Resources and Training The driving force behind Dhaka Bank has always its employees. The bank recognizes that professional development of its people is vital to establishing workers as a provider of quality service. In this regard, the bank have expanded its training facilities and set up a full-fledged training institute at SaraTower, Motijheel, Dhaka. Environmental Management ProgramThe Bank’s Environmental Management Program stipulates adherence with environmental, health and safety regulations and guidelines, refraining from business that impairs the ability of future generations to meet their own needs, as sessing an mitigating risks concerning environment, health and safety issues that the bank undertake. Community Service The Bank extends assistance to socio-cultural and community development programs. During the years under review, the Bank had provided support to a number of community welfare programs. At present Dhaka Bank assist the National Hokey Federation. Technologies, Products and ServicesDhaka Bank’s products and services are regularly upgraded and realigned to fulfil customer expectation. Their delivery standards are constantly monitored and improved to assure the highest satisfaction. The bank specially emphasizes on the service base on technologies. Because the life became very fast and people want take service within sort time. The consumer-banking sector of the Bank deals with number of tasks related to various services. The products that are recently being offered by the bank are as follows –   Accounts: Dhaka Bank provides the Savings Account; Curren t Account; Short Term Deposit; Fixed Deposit Receipt etc. or the customers. ATM (Automated Teller Machine): Dhaka Bank ATM Cards enable their valued customers to carry out a variety of banking transactions 24 hours a day. Credit Cards: Dhaka Bank Credit Card has earned wide acceptability and reputation within a very short time. The Bank has developed the process such that it can deliver the Credit Card within only 7 days against security; for unsecured cards it takes only 10 days. Phone banking: Dhaka Bank phone banking service allows customers to conduct a variety of transactions by simply making a phone from anywhere.Customers can inquire about the balance in their account, check transaction details or request for account statement by fax or e-mail. Locker: By this facility customers can put their valuable things such as jewelry items, valuable papers etc. for the safety reason. Consumer Credit: Dhaka Bank also provides consumer credit facilities with very attractive terms and con ditions. Industrial Loan: Loans issued for purchasing equipment, inventories, plants, payrolls etc. Any Branch Banking: By this customers can transact from any branch insight the country.Utility Bill Payment: Customers can pay different utility bill such as phone bill, credit card bill etc. 3. a. Bank: Banks are among the most important financial institutions in the economy. They are the principle source of credit (loanable fund) for millions of households (individuals and families) and for most local units of government. Moreover, for small businesses ranging from grocery stores to automobile dealers, banks are often the major source of credit to stock the shelves with merchandise or to fill a dealer’s showroom with new goods.When the business and consumers need financial information and financial planning, it is the bankers to whom they turn most frequently for advice and council. 3. b. Types of Bank Loans: The banks make a wide variety of loans to a wide variety of custome rs for many different purposes-from purchasing automobiles and buying new furniture, taking dream vacations and pursuing college education to constructing homes and office buildings. Bank loans may be divided into the following broad categories of loans, delineated by their purpose:   1.Real Estate Loans, which are secured by real property-land, buildings, and other structures- and include short-term loans for construction and land development and longer-term loans to finance the purchase of farmland, residential, and commercial structures etc. 2. Financial institution Loans, including credit to banks, insurance companies, finance companies, and other financial institutions. 3. Agricultural Loans, extended to farm and ranch operations to assist in planting and harvesting crops and to support the feeding and care of livestock. 4.Commercial and Industrial Loans, granted to business to cover such expenses as purchasing inventories, plant, and equipment, paying taxes, and meeting payr olls and other operating expenses. 5. Loans to Individuals, including credit to finance the purchase of automobiles, homes, appliances and other retail goods to repair and modernize homes, cover the cost of medical care and other personal expenses, either extended directly to individuals or indirectly through retail dealers. 6. Lease Financing Receivables, where the bank buys equipment or vehicles and leases them to its customers.Among the categories, the largest volume is in the real estate loans. The next largest category is commercial and industrial loans. 7. Asset-based Loans, loans secured by a business firm’s assets, particularly accounts receivable and inventory. Installment Loans, credits that is repayable in two or more consecutive payments, usually on a monthly or quarterly basis. 9. Letter of credits, a legal notice in which a bank or other institution guarantees the credit of one of its customers who is borrowing from another institution. 0. Retail Credit, smaller -denomination loans extended to individuals and families as well as to small business. 11. Term loans, credit extended for longer than one year and designed to fund longer-term business investments, such as the purchase of equipment or the construction of new physical facility. Term Loans are designed to fund long-and medium-term business investments, such as the purchase of equipment or the construction of physical facilities, covering a period longer than one year.Usually the borrowing firm applies for a lump-sum loan based on the budgeted cost of its proposed project and then pledges to repay the loan in a series of installment. 12. Working Capital loan, provide businesses with short-run credit, lasting from a few days to about one year. Working Capital Loans are most often used to fund the purchase of inventories in order to put goods on shelves or to purchase raw materials; thus, they come closest to the traditional self-liquidating loan described above.Frequently the Working C apital Loan is designed to cover seasonal peaks in the business customer’s production levels and credit needs. 3. c. Credit Analysis: The division of the bank responsible for analyzing and making recommendations on the fate of most loan applications is the credit department. This department must satisfactorily answer three major questions regarding each loan applicat 1. Is the Borrower Creditworthy and how know that? The question must be dealt with before any other is whether or not the customer can service the loan- that is, pay out the credit when due, with a comfortable margin for error.This usually involves a detailed study of six aspects of the loan application: – Character   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   🙠 well defined purpose for loan request and a serious intention to repay), Capacity   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   🙠 proper authority to request for the loan and legal standing to sign a loan agreement), Cash   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   🙠 ability to generate enough cash, in the form of cash flow), Collateral   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   🙠 enough quality assets to provide adequate support for the loan), Conditions   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   🙠 aware borrower’s line of work and also economic conditions), and Control   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   : All must be satisfactory for the loan to be a good ne from the lender’s point of view. 2. Can the loan agreement be properly structured and documented so that the bank and depositors are adequately protected and the customer has a high probability of being able to service the loan without excessive strain? The loan officer is responsible to both the customer and the Bank’s depositors and stockholders must seek to satisfy the demands off all. This requires, first, the drafting of a loan agreement that meets the borrower’s need for funds with a comfortable repayment schedule.The borrower must be able to comfortably handle any required loan payments, because the bank’s success depends fundamentally on the success of its customers. If a major borrower gets into trouble because it is unable to service a loan, the bank may find itself in serious trouble as well. So, the bank’s loan officer must be a financial counselor to customers as well as a conduit for their loan applicants. 3. Can the bank perfect its claim against the assets or earnings of the customer so that, in the event of default, bank funds can be recovered rapidly at low cost and with low risk?While large corporations and other borrowers with impeccable credit ratings often borrow unsecured, with no specific collateral pledged behind their loans except their reputation and ability to generate earnings, most borrowers at one time or another will be asked to pledge some their assets or to personally guarantee th e repayment of their loans. Getting a pledge of certain borrower assets as collateral behind a loan really serves two purposes for a lender.If the borrower cannot pay, the pledge of collateral gives the lender the right to seize and sell those assets designated as loan collateral, using the proceeds of the sale to cover what the borrower did not pay back. Secondly, collateralization of a loan gives the lender a psychological advantage over the borrower. Because specific assets may be at the stake a borrower feels more obligated to work hard to repay his or her loan and avoid losing valuable assets. The most popular assets pledged as collateral for bank loans are- Accounts Receivable, Factoring, Inventory, Real Property, Personal Property, Personal Guarantee etc. . d. Loan Review: Banks today use a variety of different loan review procedures; nearly all banks follow a few general principles. These include: 1)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Carrying out reviews of all typ es of loans on a periodic basis- for example, every 30, 60, or 90 days the largest loans outstanding may be routinely examined, along with a random sample of smaller loans. 2)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Structuring the loan review process carefully to make sure the most important features of each loan are checked. )  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Reviewing most frequently the largest loans, because default in these credit agreements could seriously affect the bank’s own financial conditions. 4)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Conducting more frequent reviews of troubled loans, with the frequency of review increasing as the problems surrounding any particular loan increase. 5)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Accelerating the loan review schedule if the economy slows down or if the industries in which the bank has made a substantial portion of its loans develop significant problems. 3. e. Handling Problem Loans:Inevitably, d espite the safeguards most banks build in their lending programs, some loans on a bank’s books will become problem loans. Usually this means the borrower has missed one or more promised payments or the collateral pledged behind a loan has declined significantly in value. The process of recovering the bank’s funds from a problem loan situation- suggests the following key steps: 1)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Always keeps the goal of loan workouts firmly in mind: to maximize the bank’s chances for the full recovery of its funds. )  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The rapid detection and reporting of any problems with a loan are essential: delay often worsens a problem loan situation. 3)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Keep the loan workout responsibility separate from the lending function to avoid possible conflicts of interest for the loan offers. 4)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Estimate what resources are ava ilable to collect the troubled loan. 5)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Loan workout personnel should conduct a tax and litigation search to see if the borrower has other unpaid obligations and many other processes. CREDIT MANAGEMENT: POLICY & PROCEDURESIntroduction: In general, a banking system aggregates a high number of low value deposits to fund enterprises with a smaller number of high value loans. This intermediation through a well functioning bank helps to achieve some economic benefits for the depositors, the borrowers and above all — the economy in the following ways: The depositors: †¢ Higher return †¢ Lower risk †¢ Greater liquidity The borrowers: †¢ Availability of fund for all credit worthy borrowers †¢ Thus allows to enterprises grow and expand The economy Economic growth is maximized as the banks channels the country’s scare financial resources into those financial opportunities with maximum return †¢ Thus profit able enterprises receive funding, grow and expand. †¢ Loss making enterprises are refused funding and allowed to go out of the business – thus saving the economy from drainage of resources. The bank must allocate loans effectively for achieving these broad objectives of the economy and the pre-requisites are: †¢ Banks are able to identify reliably those enterprises that can repay their loans. Banks allows loans to those enterprises likely to yield high return and deny loan to those likely to yield low or negative returns. While identifying profitable enterprises, the bank – in fact – identifies risks of the borrower and business in order to allow loan in the context of its risk – return profile. Credit risk management (CRM) is a dynamic process, which enables banks to proactively manage loan portfolios. Four major areas of CRM are: †¢ Policy – lending guidelines †¢ Procedure – evaluating viability and associate risks of b usiness enterprises. Organizational structure – segregation of risk taking and risk approving authority †¢ Responsibility – decision making and accountability A clear understanding of the four areas are crucial for maximizing bank’s earning by carefully evaluating credit risks and attempting to minimize those risks. 4. a. Policy objectives: 1) Maximize Bank’s earning from loan portfolio 2) Improve quality of loan portfolio to maximize earnings by: a) To keep non-performing assets below 10% b) Arresting new loans to become classified. ) Utmost emphasis on loan sanctioning is to be given in order to improve quality of the loan portfolio. Credit facilities are to be considered solely on viability of business / enterprises / project / undertaking having adequate cash flows to adjust the loans, and management capacity of the borrower to run the business profitably. 4) Evaluate credit risks before sanctioning, which may hamper generation of the projected c ash flows of the borrower and might delay or hinder repayment of bank’s loan. ) Monitoring continuously performances of the financed projects / business / enterprises will be bank’s main trust for ensuring repayment of the loan, and receiving early warning (EL) for taking timely corrective measures. 6) Price the loans on the basis of loan pricing module of the bank focusing on risk rating of the borrower. 7) Strict adherence to Bangladesh Bank’s policy guidelines 4. b. Lending guidelines As the very purpose bank’s credit strategy is to determine the risk appetite of the bank, so bank’s focus should be to maintain a credit portfolio to keeping in mind of our risk absorbing capacity.Thus its strategy will be invigoration loan processing steps including identifying, measuring, containing risks as well as maintaining a balance portfolio through minimizing loan concentration, encouraging loan diversification, expanding product range, streamlining securi ty, insurance etc. as buffer against unexpected cash flow. Types of credit facilities Bank will go for: †¢ Term financing for new project and BRME of existing projects (Large, Medium, SE) †¢ Working capital for industries, trading, services and others (Large, Medium, SE) †¢ Import and export Finance Lease Finance †¢ Consumer Finance †¢ Fee Business †¢ Islamic mode of finance Single borrower/ Group limits / Large Loans / Syndication The limit for single client / group under one obligor concept will be as under: 1. The total credit facilities by a bank to any single person or enterprise or organization of a group shall not any point of time exceed 35% of the bank’s total capital subject to the condition that the maximum outstanding against fund based financing facilities (fund facilities) shall not exceed 15% of the total capital. 2. Non-funded credit facilities, e. g. etter of credit, guarantee etc. can be extended to a single large borrower. But under no circumstances, the total amount of the funded and non-funded credit facilities shall exceed 35% of bank’s total capital 3. However, in case of export sector, single borrower limit shall be 50% of the bank’s total capital. But funded facilities in the form of export credit shall not 15% of the total capital   Large loan 1. Loan sanctioned to any individual or enterprise or any organization of a group amounting to 10% or more of bank’s total capital shall be considered as large loan. 2.The bank shall be able to sanction large loans as per the following limits set against their respective classified loans: |Rate of net classified loans |The highest rate fixed for large loans against bank’s total | | |loans & advances | |Up to 5% |56% | |More than 5% but up to 10% |52% | |More than 10% but up to 15% |48% | |More than 15% but up to 20% |44% | |More than 20% |40% | 3. In order to determine the above maximum ceiling for large loans, all on-fund ed credit facilities e. g. letter of credit, guarantee etc. shall also be considered to arrive 50% credit equivalent. However the entire amount of non-funded credit facilities shall be included while determining the total credit facilities provided to an individual or an enterprise or an organization or a group. 4. A Public Limited Company, which has 50% or more public share holdings, shall not be considered as an enterprise / organization of any group. 5. In case of credit facilities provided against government guarantees, the aforementioned restrictions shall not apply 6. In the case of loans backed by cash and excusable securities (e. g.FDR), the actual lending facilities shall be determined by deducting the amount of such securities from the outstanding balance of the loans. 7. Banks shall collect the information to the borrowers from Credit Information Bureau (CIB) of Bangladesh Bank before sanctioning, renewing or rescheduling loans to ensure that credit facilities are not pro vided to defaulters. 8. Banks shall perform Lending Risk Analysis (LRA) before sanctioning or renewing large loans. If the rating of an LRA turns to be â€Å"marginal†, a bank shall not sanction large loan, but it can consider renewal of an existing large loan taking into account other favorable conditions and factors. However, if the result of an LRA is unsatisfactory, neither sanction nor renewal of large loans shall be considered. 9.While sanctioning or renewing large loan, a bank shall assess borrower’s overall debt repayment capacity taking into consideration the borrower’s liabilities with other banks and financial institutions. 10. A bank shall examine its borrower’s Cash flow Statement, Audited Balance Sheet, income Statement and other financial statement to make sure that the borrower has the ability to repay the loan. Term Financing and Syndication Like large volume of loan, long term financing is one of the riskiest areas of the bank because of long duration of repayment. Long duration casts uncertainties on repayment as variable with which financial and other projections are made very widely in a dynamic global economic scenario.Thus utmost care is to be exercised while considering long term financing †¢ Long term relationship with the borrower is prerequisite for considering term financing †¢ Due diligence is to be exercised for accessing viability of the projects in terms of Management ability, Market gap, Technical suitability, Financial viability. †¢ Information on projects should be adequate and reliable †¢ Minimum information for project viability analysis is to be given. Syndication Syndication means joint financing by more than one bank to the same clients against a common security basically, to spread the risk. It also provides a scope for an independent evaluation of risk and focused monitoring by the agent / lead bank.In syndication financing banks also enter into an agreement that one of t he lenders may act as Lead Bank, who has to co-ordinate the activities at various stages of handling the proposal i. e. appraisal, sanction, documentation sharing of the security, disbursement, inspection, follow – up, recovery etc. it may also call meetings of syndication members, whenever necessary to finalize any decision Discouraged business types In the context of present economic situation vis-a-vis government policy as well as market scenario, the following industries and lending activities are considered as discouraged †¢ Military Equipment / Weapon Finance †¢ Highly leveraged Transactions †¢ Finance of speculative business Logging, Mineral Extraction/ Mining or other activity that is ethically or environmentally sensitive †¢ Lending to companies listed on CIB black list or known defaulters †¢ Counter parties in countries subject to UN sanctions †¢ Share lending †¢ Taking an equity stake in borrowers †¢ Lending to holding compan ies †¢ Bridge loans relying on equity / debt issuance as a source of repayment Loan facility parameters Size: Funded: maximum 15% of Bank’s total capital : Funded + Non Funded: 1)  Ã‚  Ã‚  Ã‚  Ã‚   Shall not exceed 35% of bank’s total capital 2)  Ã‚  Ã‚  Ã‚  Ã‚   Maximum 50% of Bank’s total capital for export sector. (Funded facility shall also not exceed 15% of bank’s total capital). Tenor: Short term: Maximum 12 months Medium Term: Maximum 5 years   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Long Term: Maximum 15 yearsMargin: To be determined by Banker Customer relationship and nature of business. Security: Return of Banks funding to any business is ensured primarily on the cash flow of the business. A smooth flow of cash in the business requires efficient management competence in conducting the business in a given market. However as the market never remains stable owing to various uncontrollable factors, the continuity of well- managed business cash flow is difficult to visualize in the long run. As such to ensure realization of Banks finance in case of any eventuality, other adequate security coverage deemed necessary with a view to protects interest of the bank. General Covenants Bank shall not extend any credit facility to any defaulter as defined in the bank company act 1991(clean CIB report required. ) †¢ The borrower shall have valid Trade license, †¢ In case of partnership firm there must be a partnership deed duly notarized / registered. †¢ Limited Company must be registered with the Registrar of Joint Stock Company. †¢   Directors and other loans will be subordinated to Dhaka Banks loan. Directors loan (if any) will be interest free and no dividend will be declared/paid before full adjustment of Term Loan of Dhaka Bank. †¢ The borrower shall submit annual audited/un-audited/projected financial statements regularly where applicable. †¢ The borrower shall maintain cur rent ratio of not less than 1. 5 times.. The borrower shall obtain and maintain in full force and effect all Government of Bangladesh (GOB) authorizations, licenses and permits required to implement and operate Borrowers business. †¢ The borrower shall maintain all insurance as detailed in Loan Documents. †¢ The borrower shall maintain satisfactory swing/turnover of the limit in case of continuous loans/advance. †¢ The borrower shall pay all fees , duties , taxes etc, that are due to the Government of Bangladesh (except where waivers or deferrals have been granted by Government of Bangladesh) when due. †¢ The borrower shall not create any charge, mortgage or any encumbrances of any other security interest over any of its assets without the prior written consent of the Bank. The borrower shall not avail any credit facility from other source without the prior written consent of the bank. †¢ The borrower shall not make any amendment/alteration in the Companyâ⠂¬â„¢s Memorandum & Articles of Association without obtaining prior approval of Dhaka Bank Ltd in writing. †¢ The borrower shall not furnish any corporate guarantee to other firm/company without Banks permission. Events of Default Bank will have the right to call back the Loan/Advance in the event of default under the following circumstances: †¢ Failure to repay †¢ Breach of Covenants of the loan agreement. †¢ Bankruptcy or liquidation or insolvency event affecting the Borrower. †¢ Occurrence of a material adverse change in the financial position of the Borrower. Any change in GOB directives, which in the opinion of the Lenders would prejudice the Borrowers ability to meet the financial obligations in respect of this facility, †¢ Any security interest over any asset of the Borrower becomes enforceable or any execution or distress is levied against or any person is entitled to or does take possession of the whole or any part of the assets or undertakings . Facility Wise Charge Documents %3 |L/C |LTR |BG |TL |CC Hypo/CC Pledge (Key Stock to | | | | | |Bank) | |1. Promissory Note|1. Promissory Note |1. Promissory Note |1. Promissory Note |1. Promissory Note | |2. Letter of |2. Letter of Undertaking |2. Letter of Undertaking |2. Letter of Undertaking |2.Letter of Undertaking | |Undertaking | | | | | |3. A/C Balance |3. A/C Balance confirmation |3. A/C Balance confirmation |3. A/C Balance confirmation |3. A/C Balance confirmation Slip | |confirmation Slip |Slip |Slip |Slip | | |4. Letter of |4. Letter of Continuity |4. Letter of Continuity |4. Letter of Continuity |4. Letter of Continuity | |Continuity | | | | |

A Familys Woes Shown in Juno and the Paycock

A Family's Woes Shown in 'Juno and the Paycock' Some stories depend more heavily on their environment to advance their plots and themes than others. Such is the case with Juno and the Paycock by Sean OCasey. The play follows the plight of a working class family in Ireland during the civil war that rocked that country in 1922. This divisive political backdrop to the story reflects how the characters are disconnected from one another and dont react as a cohesive unit working toward a single goal. Economic woes play a primary part in the unraveling of the family unit. Another facet of setting is the ritualistic religious convictions of the characters, especially Johnny, in their attempt to escape their dilemmas. The financial quandary of the family, the disunity of the political canvas on which their story is painted and their superstitious religious beliefs all define the setting of the play and the way that their surroundings successfully stifles the happiness of the characters. The Boyle familys struggle to communicate with one another is echoed in the dissension taking place among the Irish people outside their door. The citizens of the country have separated into two opposing camps, the Free Staters and the Diehards. When they should be working toward the common goal of independence from Britain, they are instead pitting brother against brother in a futile and bloody outburst of violence. Likewise, inside the Boyle house-where their situation is such that all members of the family might be expected to be working toward the common goal of self-reliance and financial security-there are a multiplicity of differing individuals at work, often laboring at cross-purposes. Mrs. Boyle toils vigorously to keep the entire familys financial heads above water. Taking advantage of this situation is Mr. Boyle, the father, who would normally be expected to be the breadwinner but is instead a lazy drunk and a despicable role model for his son. That son, Johnny, is meanwhi le held captive by the guilt he feels for having betrayed a fellow political comrade. Meanwhile, the daughter Mary is attempting escape from the realities both inside and outside her home by reading books. The family is detached and alienated from each other, fighting with one another over their values and beliefs just as the citizenry of Ireland are doing outside their tenement. Financial worries can either bring a family together or destroy them completely; in this situation those concerns are accomplishing the latter. At the beginning of the play, it quickly becomes apparent that this is a family in dire financial straits. The mother is the only member currently working since Mary is out on strike from her job. Mr. Boyle is making a habit of drinking and carousing and spending what little money he is able to find. Youd think he was bringin twenty pouns a week the way hes going on. He wore out the Health Insurance long ago, hes afther wearin out the unemployment dole, an, now, hes tryin to wear me out (69), says Mrs. Boyle of her husband. Hes an indolent slob who doesnt care where his money comes from as long as hes not forced to earn it through labor. A supposedly game pair of legs is keeping Mr. Boyle from taking a job, sending the family deeper into a financial spiral. Johnny cant work at all because hes missing an arm and his hip has been shot to pieces . Its quite possible that financial gain played a part in his decision to betray his friend Tancred. The Boyles need a miracle, and it would seem that a miracle comes their way when an unexpected inheritance seems destined for their door. The idea of a great deal of money coming in should bring the family closer together, but even that fails. They are living in more splendor, or at least less squalor, as they begin to decorate their home with better furnishings and flowers all about the place. The squabbling continues, only now its progressed to such topics as whether or not they should buy a gramophone and whether or not they are putting themselves into too much debt before they even get the money due them. Their situation in the second act of the play seems hardly better than it was when we first we met them. Money, even the idea of money, seems to be a wedge between their working together to make a joyful home. Christianity plays a major role in the lives of the Irish people; for the Boyles it becomes more of a frustration than an instrument of deliverance from their worries. The Boyles look to their beliefs in the dogma of the Catholic Church as a way of salvation, but their spiritual beliefs are not enough to save them from their destructive-and notably anti-Christian-tendencies. In the actual physical setting of the play, there is a picture of the Virgin Mary with a votive candle constantly kept burning beneath it. Religious images are dispersed throughout the play. At one point Mrs. Boyle says of her husband that hes constantly singin, no less, when he ought always to be on his knees offerin up a Novena for a job (69). Clearly, she thinks prayer is the answer to the heartbreaking question of why her husband refuses to work. This stifles any opportunity for a change in the situation because it is a simplistic approach to the more complex psychological problem of why Mr. Boyle tends to ru n away from the idea of working for a living. Mary was probably named after the Virgin Mary so its ironic that she violated the tenet of the Catholic Church that argues pre-marital sex is a sin. Mary commits the sin of sleeping with Mr. Bentham and predictably winds up with child and without husband. Both Johnny and her father instantly side with the Church by condemning her for bringing shame upon the family. This is very ironic considering both the moral failure of Johnny in his callous betrayal of Tancred and the moral failure of Mr. Boyle, who takes no active part in making sure his family is safe and secure. Finally, there is unique case of Johnny, who exhibits the most intense religious beliefs of any character in the play. Johnny is a man consumed with a very Catholic sense of guilt. The votive candle burning beneath the portrait of the Virgin Mary becomes more than just another religious ritual done regularly and without much conscious thought. The votive candle becomes high ly symbolic for Johnny. He seems to believe that as long its burning hell not have to answer for his great sin of perfidy. He may be right, for almost the minute that the candle goes out the Irregulars arrive to take Johnny to meet his barbarous fate. His belief in his religion has failed to protect him and his family from the ultimate tragedy. The environment in which the story of the Boyles takes place serves up images of violence, poverty and the hope for salvation from sins through religious practice. All of these are presented as background to the story of a family coming apart at the seems. Their story is a microcosm of the events taking place in the larger world outside their walls; a world that also faces violence, poverty and a religion that is a cause of, rather than a solution to, their troubles. Works Cited OCasey, Sean. Juno and the Paycock. Three Dublin Plays. London: Faber Faber Limited, 1998. 67-148.

The various types of pollution, their causes, effects and solutions Essay

The various types of pollution, their causes, effects and solutions - Essay Example The paper tells that the modern world has witnessed an increasing rate of pollution touching all aspects of the environment; for instance, there is air pollution, water pollution, noise pollution, and land pollution. Pollution can be defined as the introduction of a contaminant into the environment, caused by human activities; however, pollution can yield disastrous results on vegetation, human beings, and animals (Degobert 21). All kinds of pollution have serious repercussions to the universe, health, and economy. According to the guardian, Kyoto Protocol plays a huge role in reducing pollutions by countries; here, the member countries agree to reduce gas emissions with an aim of protecting the environment. The guardian also adds that the United States has reduced its emission for the past 2 years, while India is ranked the third as the biggest emitter of carbon dioxide, and China continues to emit more carbon dioxide. In the United States, 3million tones of harmful chemicals are re leased in the air, land, and water; such waste leads to the loss of 15million acres of land annually. Health-wise, pollution interferes with the human respiratory system, causing complications. The lakes and rivers become too polluted and as a result, not benefiting human beings at all. However, industries are not solely responsible for pollution, instead, agricultural activities and other human activities such as driving contribute to pollution as well. This paper will discuss the various types of pollution, their causes, effects and solutions. Forms of Pollution The common types of pollution are air pollution, water pollution, land pollution and noise pollution. Air Pollution Causes Air pollution is mainly caused by carbon emissions from industrial activities, cars’ fumes, electric generation, domestic heating, and construction among others (Stankovic, Campbell, & Harries 19). Carbon dioxide emissions contribute to global warming, as it is one of the largest among the green house gasses. The process of

Research Project Paper Example | Topics and Well Written Essays - 3000 words

Project - Research Paper Example Many aspects in life eventually influence one’s career choice, including personality characteristics which was dutifully categorised by Holland (1985). Holland (1985) describes six main orientations of individuals that can be predictive of their career choices. While it is not the aim of this paper to present data on the relationships between categorical personality types and career choices, Holland’s (1985) contribution in building the rationale for this paper is his notion that there exists a freedom of choice. This is not true, however, for all individuals and we are familiar of stories from young adolescents who express their lack of control over their career path. This feeling is best defined through the psychological concept, â€Å"learned helplessness,† discovered by Peterson et al. (1993). Research studies have identified the reported strong influence of parents over teachers in the student’s choice of career (Teru 2000; Kniveton 2004). These studies noted the strong implications of these findings for career guidance counselors to facilitate the decision making process of parents and pupils. As discovered by Kniveton (2004, pp.56-57), â€Å"there was little evidence of consideration of the appropriateness of further/ higher education for career choice.† Thus, here rests the gap where guidance or career counselors can fill in to ensure that a substantial number of pupils leave secondary schools with a better perspective of their career choices. The challenge of providing comprehensive information to pupils may be daunting for guidance counselors. In most cases, schools employ psychological testing and career talks for graduating pupils. â€Å"Career education is increasingly present in the curriculum at the lower secondary school level, either as a separate subject or included in another subject† (OECD, 2004, p.12). The inclusion of this policy by the European Commission emphasises the important role of

PREMIER INN (UK) 1 Essay Example | Topics and Well Written Essays - 2250 words

PREMIER INN (UK) 1 - Essay Example Business organisations today have to face a new challenge in their environments which is discontinuous change. This is the new type of change that does not easily fit into a pattern and very often is quite abrupt. This is what Mr. Andy Grove, the former head of Intel, calls as the nightmare moment which is crisis point at which massive change occurs and a firm must adapt quickly or fall by the wayside. In other words, discontinuous change can catch many managers unaware or flat-footed because it is not based from prior experiences or the past history of an industry. This drastic change is usually disruptive as it alters existing industry structures. In this regard, this paper deals with how Premier Inn (UK) is dealing with the changes in the hotel service industry and related industries of leisure, restaurant and tourism. Premier Inn is part of the Whitbread Hotels and Restaurants Division which in turn is a part of the still bigger Whitbread (PLC) Group. Ironically, the Whitbread br and first earned its reputation in the market as a well-regarded brewer but exited this business in 2001 to refocus itself on other revenue-growth areas, namely the restaurant and hotel business. Although it retained its wines and spirits in conjunction with night clubs, the main attention these days is on the hospitality business such that Whitbread achieved a record of sorts when it won the three coveted awards given out by the British Travel Awards (Premier Inn, 2010, p. 1) such as the â€Å"Hotel Chain of the Year†, â€Å"Best Business Hotel Chain† and lastly, â€Å"Best Leisure Hotel Chain† late last year (November 2010). This paper looks at present strategies of the firm and evaluates these. Discussion To have won those three prestigious awards in a short time in its existence is truly one of the great achievements of Premier Inn and successfully challenged long-standing leaders of the hotel industry such as Holiday Inn, Hilton and Marriott. Premier Inn be longs to the budget hotel category but it has been creating its own â€Å"uncontested market space† which professors Chan Kim and Mauborgne term as blue oceans (Harvard Business Review, 2004, p. 77). This is in contrast to the usual corporate strategy based on known market spaces (or red oceans) in today's overcrowded industries with clearly defined boundaries and well-known competitive rules of the game in order to survive. The essence of the blue ocean strategy is based on a new concept of rendering the competition irrelevant by changing the rules of the game, specifically by achieving cost savings while at the same time boosting the value-for-money proposition. Within the context of this blue ocean strategy, Premier Inn is trying to duplicate what Singapore Airlines (SIA) achieved in the highly-competitive airlines industry. In particular, SIA has cost-effective operations that are even lower than most American or European budget airlines (Heracleous & Wirtz, 2010, p. 145) . Singapore Airlines has pursued two seemingly atypical and incongruous objectives deemed by most management experts as incompatible which are differentiation and cost leadership. This two-pronged or dual strategy was thought even by Prof. Michael E. Porter as eventually unsustainable in the long term because these entail contradictory investments, processes and objectives (ibid.) but SIA has proven experts otherwise. This is the same strategy being pursued now by Premier Inn. Moreover, while the company tries to achieve these twin aims, it must also contend with its avowed new corporate responsibility of pursuing environmental sustainability in the way it uses the Earth’s resources while gunning for increased market share and profitability for its stakeholders and employees. Premier Inn wants to alter the rules of competition in its

Maya Angelou Essay Example | Topics and Well Written Essays - 750 words

Maya Angelou - Essay Example The author believes that the sense of displacement is stronger than the racial prejudice alone (Neubauer): "If growing up is painful for the Southern Black girl, being aware of her displacement is the rust on the razor that threatens the throat." Essentially this work is interlaced with themes such as â€Å"self-acceptance, race, men, work, separation, sexuality, motherhood† that can be seen as glued together by the central theme of racism (Lupton). Racism continues not just as a theme in ‘I Know Why the Caged Bird Sings’ but rather as the underlying fabric on which Angelou’s tale is woven. On the other hand, the theme of motherhood emerges strongly late in the work with the birth of Guy, Angelou’s son. However, subtle references to motherhood remain scattered throughout the work. The connection between Momma Henderson and the author is essentially about motherhood where the older woman serves as Angelou’s link to her social and racial identit y. Angelou’s work dwells on the use of metaphor to propagate her point of view. The author has adeptly blended racist undertones and overtones with the metaphor of a caged bird. The utilization of the caged bird stems from Dunbar’s poem titled ‘Sympathy’ where a caged bird is shown singing in order that its prayers for freedom be realized. Angelou likens herself and her community to the caged bird that can see the world around it but remains restricted by the cage from freedom of exploration (McMurry). The African Americans had been emancipated, but socio economic liberties remained few and far in between. The situation in Angelou’s case was exacerbated by a rural community and her female gender. While Dunbar’s caged bird keeps singing in frustration, Angelou is seen as transforming her frustration to her self-acceptance while still being caged by society at large (McMurry). The author has demarcated the cage in the metaphor as social roles t hat have become so well entrenched that no flexibility or hope for change exists anymore. In Angelou’s tale of self realization and development, society’s roles and statuses serve analogous to the bars of a cage. Among other metaphors, Angelou tends to transform Momma Henderson metaphorically to preserve her image as the community leader. Momma Henderson provides Angelou with a submissive method to deal with life but the author feels that this is not the life for her. Since Momma Henderson is her ideal, Angelou does her best to transform the older woman to preserve her own sense of dignity. Angelou’s metaphorical transformation of Momma Henderson reveals both a desire for gaining respect and the fear of being disrespected (Lupton): "... did an excellent job of sagging from her waist down, but from the waist up she seemed to be pulling for the top of the oak tree across the road." Angelou’s mastery of the pen is also evident in her poetic collections such as ‘And Still I Rise’ where a defiant Angelou is seen fighting against overwhelming odds. The recurrent theme of the collection is emergence from defeat where Angelou keeps repeating that she keeps rising no matter how doleful and discouraging the defeat (Neubauer). The theme of self definition tends to emerge in this work as in other works by Angelou and keeps recurring throughout the entire piece. The author’s use of â€Å"I† in her constant reminder of â€Å"I rise†

Ostpolitik And Its Influence Between The US And USSR Essay

Ostpolitik And Its Influence Between The US And USSR - Essay Example The Nixon administration was unconvinced about Brandt’s Ostpolitik and a firm stance on Germany was difficult to achieve. Kissinger eventually accepted the US’s limited authority on the dà ©tente in Germany but did attempt to influence it through talks over Berlin’s status. Nixon’s acceptance of the dà ©tente was motivated by tactical reasons rather than to develop a relationship with the Soviets (Gates 2004). Although the US cast doubts on Ostpolitik, its ramification was felt long afterward. The US felt that more comprehensive dialogue with the Soviets was possible and during the period the two superpowers went through a phase of cooperation. Yet the cold war refused to go away. Their rivalry influenced global politics with each attempting to insert their ideology in European and other nations around the world. States which were not directly united with either the US or Soviets started the Non-aligned movement but were pawns in the hands of the superpo wers who tried to win their support through economic and military aid. Despite the competition between the superpowers, negotiation between the US and the Soviets improved in the era of dà ©tente which was occurring as a result of Brandt’s Ostpolitik. Increased cooperation led to the Strategic Arms Limitation Talks (SALT) in 1972 and 1974 where both powers initiated a long process spanning decades of reducing their military armaments. Ostpolitik was a precursor to the Helsinki Accords where the US and the Soviet Union along with 32 other European nations.... One of the measures to do this was to abandon the use of force in any dispute and resolve issues by diplomatic negotiations. The other element of Brandt's Ostpolitik was the recognition of the Oder-Neisse Line as the actual border between Poland and Germany. This border meant Poland took some of German territory thereby displacing millions of Germans from this area (Pittman 1992). The effect of Ostpolitik was that displaced East Germans were able to make visits to Poland and reunite with family and friends. The treaty did not change the duties of the four powers governing Germany and maintained the commitment of West Germany towards future unification. Brandt's Ostpolitik also aimed at improving relations with the Soviet Union and Poland but this policy created divisions among the people. Two camps with opposing views on Ostpolitik had formed. The policy was especially unpopular among the victims of ethnic cleansing in East Germany who decried it as illegal. Moscow too was sceptical about openings between West and East Germany and wanted to control it (Wolf 1999). The other camp commended the policy as creating change through rapprochement or a process of developing healthy relations rather than maintaining seclusion. The process of rapprochement was aided by socialist government expectations that a West German Social Democratic management would comprehend the situation more. Ostpolitik did encourage the gradual waning of the siege mindset present with East Germany and improve the recognition of the economic system operating within each state. Ostpolitik also differed ardently with social democrats and conservatives. When the soviets agreed to open negotiations on the Berlin situation, the Treaty of

Impact of Making Marijuana Legal on the Economy Essay

Impact of Making Marijuana Legal on the Economy - Essay Example However problems arise where the government has lower levels of tax revenue which may hinder spending, marijuana is an illegal product and the demand and supply is dictated by current laws, there is a risk involved and if it is to be made legal the government has an opportunity to increase revenue, there will be an increase in the production of the drug which will increase investment in the production process and therefore provide employment. An increase in employment will increase per capita and this increase will increase spending and the demand for other goods and services in the economy. (Keynes, 2007). In many countries marijuana is an illegal drug and traded in the black market. This product has several health side effects; however it still can be used in the production of other drugs. ... Tax revenue: Marijuana has a number of purposes and one of the most important purpose is that it is used to produce medicinal drugs that can cure various ailments, on the other hand the product is traded in the black market as a drug, it is estimated that the price is more than triple the cost of production, therefore the traders have huge profits and this is due to the risk involved because its illegal to consume and trade marijuana. If the government makes marijuana legal then there will be an increase in tax revenue, the estimated tax revenue is approximately $1billion. The consumption of marijuana products will also increase given that making it legal will encourage individuals to consume the product given that there is no legal risk involved, the increase in demand wills eventually increase trade and therefore increase tax revenue. (About economics, 2009) Employment: The other positive impact of making marijuana legal is that there will be an increase in employment. Employment will increase as individuals in the economy will tend to produce their own products, the production process will require labor and capital and therefore employment in the economy will increase, this will be a positive impact given the current recession that has resulted into many individuals losing their jobs and per capita income has declined. The increase in employment means that there will be an increase in per capita income and this means that individuals in the economy will have income to spend therefore improving current living standards. Individuals in the economy will have income that will enable them to spend and this will therefore increase the level of demand in the economy and this will be a solution to the current recession that

Canon Case Study Essay Example | Topics and Well Written Essays - 2000 words - 1

Canon Case Study - Essay Example As going to be discussed below, it can be noted that Canon employs various strategies and has to a greater extent managed to meet the strategic challenges and changes as a result of the key success story in its operation. However, in view of the above explanations, it can be noted that Canon instead has been successful in managing its strategies by virtue of embarking on an open approach in formulation of strategic plans rather than being imposed by the top management. Its strategies are influenced and driven by the strategic vision of Canon’s senior and other managers. This strategy is very flexible in that it promotes an open door policy where views from other equally important decision makers are taken into consideration towards the attainment of the overall organisational goals. In most cases, strategic planning is viewed as bureaucratic in nature where it is often regarded as a preserve for the top management to impose their views and vision about the company on the other work mates. Canon’s policy is flexible and open to accept ideas from other people within the organisation. Through technological differentiation, Canon has managed to grow from strength to strength to catch Xerox which had been a world leader in the photocopying market since the 1950s. They have managed their strategic challenges as well as changes by developing technology that was completely different from Xerox and this offered new features which were not very common by then which gave them the competitive advantage against this rival competitor. Technology is dynamic and is expected to change constantly hence taking into account these changes is one guaranteed way of trying to keep up pace with the new developments in the market which will also ultimately impact positively on any business. Another strategy that was used by Canon was to target the small photocopier niche markets which

Lies My Teacher Told Me Essay Example for Free

Lies My Teacher Told Me Essay My teacher Told Me is a book that should be read by everyone at some point in their lives. According to James W. Loewen, students hate history classes and when they have to take history, the students think its boring. They repress everythingthey were taught. James W. Loewen spent a lot of time studying 12 history textbooks; he observed high school history classes and interveiwed high school history teachers. Ths is how he knows that the textbook leave out conflict or real suspense (pg 13). In his book he tells us what the textbooks lleft out or distorted about events that took place in history. He asks the question Why are history textbooks so bad? (pg14). Nationaism is one reason; they want us to be proud of America and proud to be an American. The textbooks do not include controversy; if they did then students may think the subject was interesting. Students are not taght the details of our heros unacceptabele side. Our history textbooks do not teach us about that Helen Keller was a radical socialist and admired the communist party in Tussia. How did she come to be so radical? Our students are taught that Helen Keller was deaf and bling, that is all most people remember her for. She came rrom an affluent family and she was shocked to find out how really poor pwople lived, how they had poor health care, miserable livinge conditions, poor nutrition and that people worked in sweatshops. She fought for the righs of women to vote. We are taught that Woodrow Wilson was a great statesman. After he led America into World War I he led the struggle to esablish the League of Nations. Loewen states that we were never tayght that Wilson was a leader of segregation in the federal government. He led some outrageois militant interventions in foreign countries: the consequences of those are still causing gavoc today. He sent money to the white side of the Russian Civil War and authorized a naval blockade of the Soviet Union. He sent forces to help overthrow the Russian Revolution. That caused aggression that motivated Russia in the Cold War. Wilson was openly hostile to black people. He barred blacks from any federal hobs. When he ran for office he prmised he would press for civel righes, when he got into office he did not do that. Christopher Columbus is portrayed as Americas first hero. today Christopher Columbus is one of two people to have their name marked on a national holiday. If we knew the true facts of Christopher Columbus would we be less likely to celebrate and honor him on that day? Christopher Columbus was ooking for a new route to the east to get spices because the Turks closed the land route. After two months at sea he landed in the West Indies. He found a new contient, so we were taught. For centuries fishermen and seamen had known the earth was roung. The Turks made money from the land routes being open so they had not reason to close the land routes. Europeans had been fishing off of Newfoundland in 1480s. For thousand of years the Irish an dPhoenicians had visited Canada and New England, Columbus purpose fro the beginning was not exploration or trade, but conquest and exploitation. the fact that sailors carried small pox, bubonic plague adn influenza killed a very large percentage of the natives everywhere they went. Taking of land , wealth and labor from the natives which caused their near extermination and the transatlanti slave trade which created racial underclass were introduces by Columbus that revolutionized race relations and transformed the modern world. When Christopher Columbus could not find gold to take, he took slaves and shipped them to Europe. He mistreatedthe natives he came upon, taking their land and raping their women. The truth about the Thanksging tradition is that George Washington set aside days for national thanksgiving. During the civil war the union needed all the patriotism it coud come up with, Abraham Lincoln proclaimed thanksgiving a notional hiliday. The pilgrims had nothing to do with it. No one used the term pilgrims until the 1870s the term, Pilgrims did not get introduces in the tradion until the 1890s. The Pilgrims did show courage in making the trip and they suffered from diseases such as scurvy and pneumonia and half of them died. When the Pilgrims landed, they fornd land already cleared; they found corn, squash and beans. they had the place to themselves and helped themselves to the crops. hey thought that God had brought the plague to the Indians so they could have their land. The pilgrims did not cause the plague but the British anFrench fishermen had brought it. Within three tears the plague killed between 90 and 96 percent of the natives of coastal New England. That left the land for the Pilgrims. Students, especially of the niddle class, know little about how the American class structure works and nothing about how it has changed over time. textbooks touch on the certain points of labor history but do not cover anything that has to do with social class. Four of the twil textboos Loewen reviewed, suppled fragmentary analyses of social stratification that were more in the colonial America. Teh textbooks takl about Social Mobility however ther s not anything said about the differences in social classes. Social class is an imprtant part of our society. It starts from conception. Affluent mothers are more likely to get prenatal care than a poor or working lass mother to be. Low income kids often times have negaive attitudes. To teach about social class in our history and in our present would invite students to let go and look past their own social class to be able to learn and grow beyond the begative thoughts that hold them i the same social class. Recent history is the history that has the most impact on our lives today. Loewen compares the War of 1812 and Vietnam War, which high school students know very little about. The war of 1812 killed 2,000 Americans an dlasted half as long as the Vietnam War. It lasted 10 years and 50,000 Americans died. textbooks give the two the same amount of space. teh textbooks do not show the degree of destruction done in Vietnam and to the Vietnamese population. the textbooks do not coner My Lai where American troops had personally raped, cut off ears, cut off heads, taped wires from portable telephones to human genitals and turned up the power, cut off limbs, blown up bodies, randomly shot at civilians, razed villages in reminiscent of Genghis Khan, shot cattle3 and dogs for fun, poisoned food stocks, and generslly ravaged the countryside of South Vietnam. as john Kerry tokd the Senate Foreign Relations committee in April of 1971. (pg 245) Most teachers do not want to cover the Vietnam War in detail, they are agraid it might give students the wrong impression of American institutions. Along with the Vietnam War not being covered in schools is the womenss movement. Techers are afraid of offending the parents of the students. Most yount addults that have had history classes in high school cannot say when the civil War was fought or who was in the Vietnam War. Our History in the textbooks is portrayed as dead facts about our history would be remembered by the students. History is taught in a positive way of the white mand, the students ofother bakgrounds and nationalities often get offended and resist learning American History. If the teachers strayed away from the traditional way history is taught and brought in other sources and addd emotion to it, it would be a more interesting subject to study. This book is intriguing and thought provoking. I had no idea that history was taught like this. I fully agree that history at the same time should focus on patriotism, it should also be taught with facts, true facts. Our hisory is our history, it is what it is and we connot change it. The only thing we can do now is change the way it is taught in the present and the future. If we teach the wrong doings of the past, we may not make the same mistakes again. Loewen, James W. Lies My Teacher Told Me

In the Kitchen Essay Example for Free

In the Kitchen Essay The kitchen that is being discussed in the story means two different things. The first meaning is the part of the author’s house where the author’s mother prepare and cook their food, and where the whole family of the author spend most of their time together. The other meaning of the kitchen in this story is as the kinky hair at the back of a person’s head where the neck meets the shirt collar. The kitchen as part of the author’s house has been memorable to their family since this is where they spent most of their time together. It is in this room where they took their bath in their galvanized tub, where their mother washed their clothes, and where their mother did her hair. However, we will deal with the aspect of the kitchen as the kinky hair. The kitchen as the kinky hair at the back of their head is usually the main concern of most of the African American. This kitchen is very important to these people because of the perception of â€Å"good† and â€Å"bad† hair. In those days, â€Å"good† means straight hair, while â€Å"bad† hair means kinky hair. Most people wanted to have â€Å"good† hair. They exert almost all kinds of effort in order to have â€Å"good† hair that even people of today still do. The author’s mother heats fine tooth instrument with wooden handle over their gas stove to straighten her hair, with the help of Bergamot oil. Some used stocking cap which is made up of a pair of stocking cut into about six or more inches with an open end on one side and a knotted end on the other side. Nowadays, hair still remains to be the number one concern of many African American people. Even people with non-kinky hair resort to hair straightening process and products to achieve silky smooth straight hair. As a conclusion, the term kitchen in this essay pertains to hair as assimilation or adjustment in order to be accepted by their society without much discrimination. Most people believed that hair, as a crowning glory, is an important source of identity. It shows what kind of a person one is, where he/she came from, and it even shows the financial and racial status of a person. Work Cited Gates, H. L. , In the Kitchen. USA: MacMillan, 1997.

Organisational Commitment Study Research Methodology

Organisational Commitment Study Research Methodology Table of Contents (Jump to) Research Methodology Introduction Research Design Sample Population Sample Selection Sample Size Procedures Measuring Instrument Gathering of Data Organisational Commitment Job Satisfaction Job Descriptive Index and Job in General Stress in General Human Resource Management Practices (HRM) Trust in Management Turnover Intention Turnover Statistical Methods Summary Results Conclusion Research Methodology Introduction This chapter addresses the research methodology used in the study of Organisational Commitment, its’ antecedents and consequences as described in the first chapter. The first section of this chapter after the introduction presents the research design. Sample and population are presented in the second section. The third section looks at measuring instrumentation, reliability, validity and scoring techniques. The third section looks at data gathering procedures. The fourth section describes methods for statistical analysis. The last section summarises this chapter. Research Design This study used a relational research design to determine the relationship between antecedents and consequences of organisational commitment. Research into organisational commitment is largely dependent on the perceptions of employees and employers. Perceptions are generally acquired through subjective self-reports or opinion. A design based on surveys is therefore appropriate. Relational surveys empirically examine the relationships between two or more variables, constructs, and/or factors. Descriptive surveys are primarily used to provide personal and demographic information. Correlation studies are used to: measure relationships; check consistency of those relationships; and to make predictions. This allows the researcher to test hypotheses by confirming or refuting their predictions which is consistent with Grounded Theory and the formation of theoretical frameworks. It follows that predictive validity is most often achieved by statistical methods such as correlation and regressi on (Saunders et al, 2009). Sample Population The population of the study is all past and present employees of company X. Sample Selection Given that this company is a small specialised Information Technology consulting company with a small population (n = 25) all employees were approached to participate. Electronic survey links were sent to the entire population and 100% response rate was achieved where all of the respondents completed all of the surveys. Sample Size Sample size determines statistical significance in a relationship. The central limit theory dictates that the larger the absolute size of the sample the closer the more likely it is to have a normal distribution. It has also been shown that the minimum sample size of 30 will produce a normal distribution or near normal distribution (Stutely, 2003). DeVaus (2002) provides this formula to calculate minimum sample size: Where: is the minimum sample size required is the proportion belonging to the specified category is the proportion not belonging to the specified category is the z value corresponding to the level of confidence required (see Table A2.1) is the margin of error required Table 1 Confidence Levels and associated z values This formula is used for small populations: Where: is the adjusted minimum sample size is the minimum sample size (as calculated above) is the total population Saunders et al. (2009) advise that, in cases where the population is less than thirty, data should be collected from the entire population. There are limitations associated with minimum size. In particular the margin of error cannot be smaller than the reciprocal of the population. It follows that in order to achieve a 5% margin of error the minimum sample size required is calculated thus: where is the sample size Applying the DeVaus (2002) formulae to the sample in this study requires the whole population if a confidence interval of 95% and 5% error is to be achieved. Procedures The researcher requested permission from the Managing Director of the organisation to conduct interviews and circulate surveys among the employees. In addition permission was granted to access human resource management records and employer/employee correspondence where legal, relevant and appropriate to the study. The researcher is an employee of the organisation with free access to the employees which facilitated the ease of data gathering and clarification where necessary. Most of the group are in possession of post graduate degrees and a number have a Masters level qualification which further facilitated the process as the group all have a deep understanding and appreciation for the process. An employee meeting was called in the presence of the Managing Director where it was explained that the participation in the study was optional or voluntary, anonymous, and that the information would be treated confidentially. In order to avoid any peer group pressure, no discussion was entertained in the group information session and employees were invited to discuss any interest or concerns directly with the researcher in private. It is interesting to note that all employees wanted to participate and most had no desire to remain anonymous inviting the researcher to discuss any aspect of their responses with them. Three approaches were used during the gathering of data: Online Surveys; Interviews; and Analysis of Human Resource records and employee correspondence. Surveys are a popular, economical and convenient way to collect standardised data which facilitate easy comparisons (Saunders et al., 2009). Unstructured interviews were conducted to: determine aspects of the organisations’ Human Resource Management practices; determine reasons for Turnover with ex-employees where exit interviews or detailed resignation explanations were not available or unclear; determine impressions of Turnover survivors for perceptions about Turnover reasons. Human Resource records were used to determine biographical data such as: pay grade; age; tenure; absenteeism; education; and vacation habits Turnover reasons were collected from exit interviews and employee correspondence. Measuring Instrument This study aims to determine the relationship between Stress, Turnover, Turnover Intention, Organisational Commitment, HRM practices and Job Satisfaction. The following instruments were used in surveys to measure the variables: Organisational Commitment: Allen and Meyer (1990) Job Satisfaction: Brodke et al.’s (2009) Revised Job Descriptive Index (JDI) questionnaire based on the original of Smith et al. (1969) Job Stress: Stress in General (SIG) questionnaire of Brodke et al. (2009) Management Trust: Trust in Management (TIM) Brodke et al. (2009) Turnover Intention: three point questionnaire baed on Sjà ¶berg and Sverke (2000) Gathering of Data The online surveys were created in Google Forms using the organisations’ internal infrastructure which is hosted on Google Apps. Google Forms is part of the Google Apps suite and facilitates the creation, distribution, and collation of survey data electronically. The surveys were distributed from the facility in Google Forms by way of a link in an email. The anonymous survey responses are automatically collected and stored on Google Drive where the information is made available in a tabular format (Microsoft Excel). Organisational Commitment Organisational Commitment was measured using the Organisational Commitment Scales (OCS) developed by Meyer and Allen (1997). The reliability of the OCS has been demonstrated in numerous studies over the last two decades. The reliability of each of the scales can be seen through Cronbach’s alpha of: between 0.77 and 0.88 for affective commitment; 0.65 and 0.86 for normative commitment; and 0.69 and 0.84 for continuance commitment (Fields, 2002). The OCS is comprised of 22 items measured on a 7 point Likert scale ranging from 1 (strongly disagree) to 7 (strongly agree). Job Satisfaction The Job Descriptive Index (JDI) was painstakingly developed by Smith, Kendall, and Hulin and published in their book, Satisfaction in Work and Retirement (1969). Patricia Cain Smith (1917-2007) relocated from Cornell to Bowling Green State University in the mid-1960s bringing the JDI Research Group with her. The group has operated since 1959 with different members and is one of the longest running research groups in the field. They make their family of scales available free of charge to researchers. The scales include: the Job Descriptive Index (JDI) including the Job in General (JIG); Stress in General (SIG); and Trust in Management (TIM). These scales consist of phrases and adjectives that describe facets of the job or the job overall. Participants select â€Å"Yes†, â€Å"No† or â€Å"?† in response to each word or phrase. â€Å"Yes† means the word or phrase describes the job. â€Å"No† means the word or phrase does not describe the job. â€Å"?† means that the respondent is unsure or cannot decide. The scales are scored 3, 0, 1.5 for â€Å"Yes†, â€Å"No†, and â€Å"?† respectively. The 2009 revision of the JDI, JIG, SIG and TIM are utilised in this study. Job Descriptive Index and Job in General The Job Descriptive Index (JDI) and Job in General (JIG) are self-report measures of job satisfaction. The JDI measures satisfaction with five facets of the job: attitudes towards co-workers, the work itself, promotion opportunities, remuneration and supervision. The JIG scale measures overall satisfaction with the job (Brodke et al., 2009). There have been two major updates to the JDI since it was introduced by Smith, Kendall, and Hulin in 1969. The first update was made in 1985 (Smith et al., 1987) and the second was made in 1997 (Kihm, Smith, Irwin, 1997). The JDI Research Group (Bowling Green State University, OH, USA) then updated the JDI family of scales in 2009. Table 2 Correlations among the JDI facets (Brodke et al., 2009)* lists correlations among the JDI scales which demonstrates that each of the JDI facets and the JIG measures a distinct aspect of job satisfaction and no facet correlates higher than 0.50 with any other facet. Cronbach coefficients above 0.80 or higher are considered to have high levels of reliability. Table 2 Correlations among the JDI facets (Brodke et al., 2009)* Table 3 Validity Coefficients Pearson Correlations (Brodke et al., 2009) shows the correlations of the JDI facets with SIG and the single item measure of Overall Job Satisfaction: â€Å"Considering everything, how would you rate your overall satisfaction with your job?† rated on a five point scale from 1 (very dissatisfied) to 5 (very satisfied). Brodke et al. (2009) have shown that the JIG scale is a good predictor of Turnover Intention. Table 3 Validity Coefficients Pearson Correlations (Brodke et al., 2009)* Stress in General The relationships between workplace stress and negative personal and organisational outcomes are well documented. Stressors and Strains are important concepts related to stress. Stressors precede the experience of stress and strains are the outcomes of the stress experience. The SIG is a measure of the experience of work stress, which emerges between the initial existence of work stressors and the resulting physical and psychological strains (Brodke et al. 2009). This is the stress that is experienced as a result of work stressors prior to the acknowledgement of the strain. The SIG is thus a good measure of Job Dissatisfaction and predictor of Turnover Intentions. The 2009 revision used in this study is based on the SIG scale developed by Stanton et al. (2001). Brodke et al. (2009) showed that this SIG scale shows a reliability coefficient of 0.79. Furthermore the scale correlates positively and significantly with the Faces stress measure (r = 0.54, p Human Resource Management Practices (HRM) The Managing Director and a team manager were interviewed about all aspects of their interaction from recruitment to exit. Marketing material was collected and analysed. The JDI facets that measures Opportunities for Promotion and Supervision are also used in assessing perceptions of HRM practices. Trust in Management Trust in Management (TIM) self-report survey consists of twelve phrases and adjectives describing characteristics of senior management or executives. Participants select â€Å"Yes†, â€Å"No† or â€Å"?† in response to each word or phrase. â€Å"Yes† means the word or phrase describes the manager or executive. â€Å"No† means the word or phrase does not describe the manager or executive. â€Å"?† means that the respondent is unsure or cannot decide. The scales are scored 3, 0, 1.5 for â€Å"Yes†, â€Å"No†, and â€Å"?† respectively. The TIM is considered a single scale and is composed of four dimensions: Ability, Benevolence, Consistency, and Integrity. Table 4 Cronbach’s alphas and correlations among the TIM summary scores and the TIM dimensions (Brodke et al., 2009) shows how the dimensions of the TIM scale are correlated. Table 4 Cronbach’s alphas and correlations among the TIM summary scores and the TIM dimensions (Brodke et al., 2009)* Table 5 Validity Coefficients with Selected Outcome Measures Pearson Correlations (Brodke et al., 2009) shows the Pearson correlations with JDI facets. Brodke et al. (2009) contend that the TIM dimensions are distinct although highly correlated. Table 5 Validity Coefficients with Selected Outcome Measures Pearson Correlations (Brodke et al., 2009)* Turnover Intention This study makes use of Sjà ¶berg and Sverke’s (2000) three item Turnover Intention scale which measures the strength of the respondent’s intention to leave their current job. The scale is scored from 1 (strongly disagree) to 5 (strongly agree). A high score indicates a higher degree of Turnover Intention. Nà ¤swall et al. (2006) showed the Cronbach alpha coefficients for this scale to lie between 0,76 and 0,87. Turnover Actual turnover information is derived from Human Resource records including ex-employee correspondence in the form of letters of resignation. Statistical Methods Data analysis was conducted using an installation of the statistical programming language â€Å"R† through the web based front-end â€Å"R-Studio† on a virtual Amazon Web Services Machine Image (R version 3.0.1, Nickname Good Sport, 2013-05-16). R is a GNU project which is free under the GNU General Public License. The researcher considered the following tests given the nature of the study: Descriptive Statistics are used to describe the location, shape, and dispersion of the sample data collected Inferential Statistics to calculate the strength and direction of the relationships between the research variables Regression tests were used to examine cause-effect relationships between the research variables Summary Data was primarily derived from the perceptions and experiences of employees. Statistical analysis was performed on the data in order to yield empirical evidence and to gain an understanding of the inter relationships between the antecedents and consequences of Organisational Commitment. Online surveys were conducted using various scales. Secondary data were collected from sources such as informal interviews and company HR records and policies. Data analyses are based on quantitative methods through a statistical analysis in order to answer the research questions posed.

Mythology Retold Through Entertainment Outlets Essay -- Myth Mythology

Mythology Retold Through Entertainment Outlets The world of Art and Architecture has continually provided the tools to communicate many differing concepts or ideas such as political ideologies like socialism to simple folk-tales or intricate narratives. The elements of Greek Art and Architecture and its direct connection to mythology is the main focus of this essay. I will present the comparison of a "new" representation of a Greek Temple used in the set design of, The Clash of the Titans; to the original where its influence is traced to the classic of all Greek Temples, the Parthenon. By illustrating this comparison of new to original, I hope to communicate the idea of how contemporary society has attempted to retell mythology through entertainment outlets. As stated in the introduction, our contemporary or "new" work is the movie titled, The Clash of the Titans, adapted from the book of the same title written by Beverley Cross. This film was released in the year of 1981 as one of many mythological based stories the entertainment industry has gained profit from. The narrative of this film consists of the mythological tale of Perseus as it took place in Greece when immortals and mortals depended upon one another. Here Hollywood retells the tale of the life of Perseus, son of Zeus; selling mythology to the paying viewer. Within the film the set design is based upon the Greece of that time; the High Classical period of Art and Architecture. Argos is the birthplace of Perseus a city later destroyed by the Kraken, the last of the known Titans. It is here our new work is visualized and represented, the scene of tsunamis crashing upon the temples of Doric order and a statue based upon High Classical period of Greek Art and Arch... ...g new ideas, representations, and methods. As time progresses the element of creativity evolves but never separates itself from the history it has grown from. The concept of, "reconfiguration as a new mode of remembering the past is just another idea we utilize to place ourselves in our own temporality (Netzger, 9). Given that chance we allow ourselves to evolve and grow with time and patience, and this in turn affecting our environment as well as other individuals. Works Cited The Clash of the Titans. Dir. Desmond Davis. With Harry Hamlin, Ursula Andress, and Laurence Olivier. Metro-Goldwyn-Mayer, 1981. Netzger, Nancy. "Modes of Remembering The Classical Past" Memory and the Middles Ages. Ed. Nancy Netzger and Virginia Reinburg. Boston: Boston College Museum of Art, 1995. Stokstad, Marilyn. Art History: Volume One. New York: Harry N. Abrams, Inc., 1995.

Free College Essays - Displays of Light in Paradiso :: Dante Paradiso Essays

Paradiso – Displays of Light Dante's ascension throughout the entire Divine Comedy, namely that of his last book, Paradiso, is notedly marked by the variant displays of light and how it effects the poets. Quintessential to the purpose of this entire poem is the depiction of Paradise as a realm of light that exists in nine spheres, whose proximity to God varies directly with their merit, shown by the first three lines, "The glory of Him who moveth everything /Doth penetrate the universe, and shine/ In one part more and in another less." (Dante, 293) In the closer spheres with the lesser radii, Dante notes the soft glowing lights, but as he approaches the centermost sphere, he attempts to describe the inexpressible gleaming of the vision of divinity, thus the recurrence of the theme of light running throughout the poem. The first appearance in the sequence of lighting occurs in Canto I where he refers to Paradise as "all that hemisphere was bathed in light/ The other dark." (Dante, 294) As he first enters heaven, he notes that its luminescence irradiates everything else around it, leaving it in total darkness. As he continues "Already did I rest content/ From great amazement; but am now amazed/ In what way I transcend these bodies light." (Dante, 297) But this would only be the beginning of the amazement. This central theme of light again appears in Canto XXIII, where Dante contemplates the symbolism of Christ as light. "Outshining myriad lamps beheld I then/ one Sun who kindled each and all, as ours/ kindles the stars that throng his high domain;/ and through the rays, poured down in living showers,/ the radiant substance, blazing on me, tried/ my mortal vision beyond my mortal powers." (Bergin, 111) Thus, Dante realizes that has been enlightened far beyond the length of what reason can describe. The final instance in the recurring sequence of lights occurs at the very end of the poem where he, "by a lightning flash my mind was struck/ And thus came the fulfillment of my wish.