International Language Essay Example for Free

Universal Language Essay Across 294 nations on the planet, there are around 6,500 dialects are generally utilizing in the every day life. The control of English has been demonstrated as a universal language the whole way across with the happening to globalization in future, English is the language of strategy and worldwide interchanges for the utilization of business, the travel industry, instruction, science, PC innovation, media, Internet and so forth. Without language, all the things couldn’t occur and remain set up like today. Individuals these days who remain in the commercial center customarily utilizing English as a global language to satisfy open needs, a typical language to encourage exchange and correspondence appears to be unavoidable. A few people feel that globalization will turn into a major danger to the national, social and even strict ways of life as utilizing just a solitary language and final proposal to the improvement of a nation. Forces single language may prompt social consumption, lost neighborhood phonetic information, and essentially will cause to losing of own language which is the bearer of all their social qualities character is the primary idea of moderate disapproved while they right off the bat open to the expression of globalization. Notwithstanding, as I would see it, it is conceivable to utilize an official worldwide language and still hold theirs own dialects with their own societies esteems character. I introduced to help that having a solitary language as a global authority language not just gives the chances to social versatility and advancement yet in addition evacuates the likelihood of losing the national language the transporter of character by helping individuals to be distinguished to the entire world as they are given voices. It is engaging in universal connections and correspondences is required. Thusly, to be a functioning member in globalized relations, it is important to receive th e universal language. Utilizing a universal language gives chances to individuals to make commitments to the arrangement and improvement of that language to prompt logical and social autonomy. Language is just the instrument of correspondence for individuals around the globe. Numerous nations had been adjusted to the social with an official language or dialects. In any nation where there are multitudinous dialects spoken, there is a requirement for authentic dialects to guarantee the progression of correspondence between various areas of the populace and the various states. Most importantly, worldwide language is significant as a typical language for individuals, without language, there will be nonappearance of cooperation between individuals, while there will be a connection happened to no correspondence to no exchanging and so on. It’s likewise significant in each perspective for the world. These days, English is viewed as the all inclusive language for business, universal correspondences, amusement, the travel industry, exchange and innovation. Most of all assets on the web are all in English, influencing individuals to learn English to exploit it. Increasingly significant, learning English is noteworthy for human to being capable for data trade and associating with others. In the predominant globalization there is no uncertainty that a worldwide language is unavoidability. While exchanging a business, language is assuming a significant job of individuals, if human discovered troublesome in the initiation of a typical in language spoken, they can't exchange business. In this sense, not exclusively is a global language inescapable, yet in addition a fundamental for exchanging, business and financial development by the turn of the century. The analysis to restricting the utilizing of a global authority language battles that it would prompt social consumption and lost social qualities personality. Be that as it may, the utilization of a worldwide authority language doesn't imply that their neighborhood dialects will vanish. On the off chance that English as of now works as a sort of informal worldwide language yet this doesn’t imply that individuals just speak in utilizing English or they disregard their own dialects. English is utilized in explicit settings, for example, exchange, business, and so forth and local dialects are utilized for ordinary guidance.

Patron and Matron

Supporter and Matron Supporter and Matron Supporter and Matron By Mark Nichol As Latin researchers may perceive, supporter and lady are related with the Latin words for â€Å"mother† and â€Å"father.† However, their faculties, and those of inflectional types of these words, stretch out past the promptly family. Benefactor, which implies â€Å"sponsor† or â€Å"supporter,† eventually gets from the Latin expression pater, which means â€Å"father,† yet the faculties of its halfway structure, patronus, are â€Å"bestower,† â€Å"lord,† and â€Å"master† just as â€Å"model† and â€Å"pattern.† (Pattern, in actuality, comes from supporter, the indistinguishable French ancestor of the English word.) Because of the assorted variety of definitions, a supporter can be an affluent altruist who bolsters an aesthetic undertaking or a social reason or a minor client of a business foundation. The comparable looking term patroon, a Dutch minor departure from the French word, signifies in chronicled American English utilization a landholder in Dutch provincial domains in what is presently the northeastern United States. Support applies in either sense to the demonstration of being a supporter. In like manner, disparage has a double significance: In its constructive implication, it basically portrays being a client, however it likewise has the derogatory feeling of â€Å"condescend,† or â€Å"look down on,† from the thought of an individual of higher economic wellbeing pompously with respect to somebody of apparently second rate standing. Two words that contain the letter grouping found in benefactor yet are slipped straightforwardly from pater are patronym (truly, â€Å"father’s name†) and patronymic (truly, â€Å"from the father’s name†); the last is both a thing and a descriptive word. Lady, from the Latin word mater by method of lady, which means â€Å"married woman,† additionally has present day detects that stray from its familial starting points: The word currently connotes a lady with a develop attitude and high economic wellbeing, however the descriptor motherly disdainfully recommends somebody of a particular age and a specific mass. In a wedding party, notwithstanding, a wedded servant of respect is known as a lady of respect paying little mind to age or size. Generally, a female manager in an open foundation, for example, a jail or a school was known as a lady, and in creature farming, a lady is what could be compared to a stud. Matronym and matronymic are the female reciprocals of patronym and patronymic. Need to improve your English in a short time a day? Get a membership and begin accepting our composing tips and activities day by day! Continue learning! Peruse the Vocabulary class, check our mainstream posts, or pick a related post below:50 Slang Terms for MoneyHyper and Hypo7 Sound Techniques for Effective Writing

Pride and Prejudice Essay Samples - How to Write Excellent One

Pride and Prejudice Essay Samples - How to Write Excellent OneA great deal of students find it difficult to write a Pride and Prejudice essay sample. They simply do not know how to go about writing such a document. They are so unsure about how to proceed that they fail to write a reasonable essay on the topic. This makes their school work very difficult as they will only get poor grades if they cannot write an acceptable essay.Many students fail to realize that there are a great many resources available to them. There are actual manuals on the topic and an author that write on the internet regularly. You can also get a wide variety of books that you can read on the topic as well. You may not want to get a book, however, because you do not know how to properly use it.There are many sites that you can go to that offer great extent of information on the topic of Pride and Prejudice. Some of these sites may be slightly out of date, but they will give you all of the latest tips on how to write a decent Pride and Prejudice essay. Of course, the more modern sites will probably be a little out of date as well, but they should provide you with a great deal of help.There are two types of essay samples you can use for this topic. The first is a letter that you write that will summarize the main points of the essay, while the second is an essay that you will have to compose over the course of several weeks.In either case, the two samples are slightly different, but they are both based on the same idea. You will have to analyze the actions and events in the novel and determine whether they are based on reality or not.Most people who use Pride and Prejudice essay samples do not think much about the material they are required to analyze. If you examine your notes carefully, you will find that the parts of the book that you will need to read are quite brief. Your scope of analysis will usually be limited to the plot and the various characters.The other type of essay is one tha t you will have to compose in short paragraphs. This kind of essay is much like a thesis paper that you would have to prepare for a university class.The level of difficulty will be much higher for the first type of essay, but they are both on different levels. If you decide to use a book for the purpose, make sure that you go through it carefully. This is one thing that you will never have to worry about if you write an essay yourself.

Marketing Strategies Helping The Community Knows About...

Learning about each leader specific marketing strategies helped me to learn about the diverse methods that each program is implementing. The different strategies helped me to understand how they ensure that the community knows about their program. For instance, Mrs. Brown discussed how much of her marketing strategy is through the current and prior families who share information about the program. I had the opportunity to learn about the various tools child development programs can use to communicate their message with others. I learned that the message should â€Å"begin by marketing the program’s strongest assets† (Hearron Hildebrand, 2011, p. 316). To be honest, since I am a teacher in the classroom, I never stopped to think about the marketing strategies that my program used. Since our program has not struggled with enrollment. However, after reading Hearron Hildebrand, Chapter 14 I reflected on the tools that are used by all three programs. Furthermore, a key finding was that all of the programs have a website that contains detailed information about our programs such as accreditations, curriculum, staff member’s experience, funding, hours, services, locations, and enrollment information. I am glad that I work for a program that comprehends that it is imperative that we use technology as a means of communication. According to the United States Census Bureau, the percentage of United States â€Å"households with computers has increased from 61.8 in 2003 to 75.6 inShow MoreRelatedSuperstar Athletic Marketing Strategy1307 Words   |  6 PagesMarketing Strategies Company Image Superstar Athletics will be a revolutionary, individualized wellness program for youth to promote proper biomechanics and strength training to reduce the amount of injuries seen in the 8-18 year old school athlete population. Our diverse, multidisciplinary staff comprised of occupational therapists and physical therapists are uniquely qualified with certifications in pediatrics, hand therapy, and CSCS with extensive knowledge of biomechanical functioning andRead MoreMarketing Proposal : Marketing Plan1575 Words   |  7 PagesGreyston Bakery Marketing Proposal Executive Summary Marketing is a very crucial component of every business. The case study mentioned in this paper discusses a complex business structure, where the company’s goals are more concerned with community and environment sustainability. However, for the concerned company to achieve its goals, the Chief Executive Officer needs to improve its profitability without deviating from the core mission. This proposal will address the key issues facing the companyRead MoreThe Effects of Social Media Dependency1422 Words   |  6 PagesAbstract In this paper, it has been evaluated that how social media is helping social media marketing managers in promoting their business. A brief description has been done about government agencies, agencies relationships, branches of government of United States related to social media legal marketing, four components of legally astute social media marketing and in the end some blogs are also discussed. Introduction Social media is basically an online media in which people are talking toRead MoreIntegrated Marketing Communication ( Imc )919 Words   |  4 PagesIMC and its Importance Integrated Marketing Communication (IMC) is the coordination and integration of all marketing communication tools, avenues and sources within a company into one seamless program. That program is designed to help maximize the communication with consumers, businesses and any other affiliates of an organization (Lascu Clow, 2012). The Integrated Marketing Communication involves communication to four primary groups. Those groups include customers, channel members, employeesRead MoreSocial Media as an Effective Marketing Tool1235 Words   |  5 Pagesaccelerated by various media platforms. Global marketing involves many challenges, and also involves a degree of corporate social responsibility. Facebook, Twitter, YouTube, instant messaging, video conferencing, web meetings: These and many other collaboration and social media platforms are now an everyday part of people’s lives around the world. They are also finding their way into global enterprise communications and management strategies. These social media applications and technologiesRead MoreParents as Teachers1326 Words   |  6 Pagesthrough my head daily. Living in a small town like Atchison, Kansas, I figured there were no programs being offered to young single parents or should I say I didn’t think there were any programs that were being offered to young single parents. Little did I know there was one that was going to change my outlook on development, parenting, and being the best mom and teacher I can be, for my son. I later found a program called Parents as Teachers that offered support, classes, activities, field trips, andRead MoreThe Perception Of An Art Management Student s Eyes Essay1359 Words   |  6 Pagesresources means there will be a low college enrollment rate in art area, no great marketing director in art organization, low employee rate and low wages, low art manager to manage organization’s program, and the community will have a low evaluation of art. First of all, art majors’ students have less financial grant helps, which means that the government provides less educational funds to the art students. As we all know, business is the most popular college majors and students can received many government’sRead MoreCity Of Ocala Sanitation And Recycling Department849 Words   |  4 PagesThere are several strategies the city of Ocala sanitation department programs try to generate consumer demands not only for the Sanitation Department. There are several strategies that the City of Ocala sanitation department aim and strive for set strategies are to promote the department supply mechanism self-sustaining demand. The purpose of the sanitation and recycling department is to collect or gather materials by starting a recycling program in the community that we often mayRead MoreWal-Mart Asda1310 Words   |  6 PagesWal-Mart – ASDA in the UK Two international marketing objectives †¢ Increase overall market share in the UK with their company ADSA by 15% by the end of the year †¢ Increase overall sales in the supermarket industry by 1 billion dollars in the next year Communication Strategy In assessing the current communication opportunities for the supermarket giant, Wal-Mart, you can look at their current audience, and their trends. The general audience for the Wal-Mart company can be very generalRead MoreYwca1089 Words   |  5 PagesYWCA Donna Echols MKT/421 Mr. Zack November 26, 2013 Marketing is all about creating a really solid decision, which will lead to more money. In this paper I will give some history of my organization, and explain how each element of marketing affects the organization. In addition I will cover the industry in which the organization resides in. History The YWCA has been around for decades, and will be around for decades more. The YWCA stands for Young Women Christian Association. The organization

Narrative Of The Life Of Fredrick Douglass, An American Slave

Narrative of The Life of Fredrick Douglass, an American Slave In Fredrick Douglass’s a narrative, Narrative of The Life of Fredrick Douglass, an American Slave, he narrates an account of his experiences in the dehumanizing institution of slavery. This American institution was strategically formatted to quench any resemblance of human dignity. Throughout, the narration of his life Fredrick Douglas, meticulously illustrates the methodical process that contributed to the perpetual state of slavery. In his narration Douglass, denounces the idea that slaves are inferior to their masters but rather, it’s the dehumanizing process that constructs this erroneous theory. Ultimately, the desires of his consciousness for knowledge ferociously leads him to mental and physical pursuit of his emancipation. Fredrick was always troubled by the lack of information slaves knew about themselves. He didn’t have an identity beyond knowing he was born a slave. â€Å"By far the larger part of the slaves know as little of their ages as horses know of theirs, and is the wish of most masters within my knowledge to keep their slaves thus ignorant.† (217) Although, this information was not peeve to slaves nevertheless, it was a source of unhappiness for Douglass. In addition, Fredrick like most slaves never developed a relationship with his mother. He was certain it was deliberate on the part of the master, â€Å"to hinder the development of the child’s affection to mother, and to blunt and destroy theShow MoreRelatedNarrative of the Life of Fredrick Douglass: An American Slave873 Words   |  4 Pages The Narrative of the Life of Fredrick Douglass: An American Slave, is a save narrative written by Fredrick Douglass himself. The narrative comprises of eleven chapters that give an account of Douglass’ life as a slave, and his quest to get education and become free from the slavery institution. In this narrative, Douglass struggles to free himself from the mentally, physically, and emotional torture of slavery, and the slavery itself. Douglass was taken away from his parents at a tender age andRead MoreThe Narrative Of The Life Of Fredrick Douglass, An American Slave Essay1561 Words   |  7 Pages1845 Fredrick Douglas wrote an autobiography called The Narrative of the Life of Fredrick Douglass, an American Slave. The book tells the story of his life as a slave, being the son of an enslaved woman and a white man and how he finally escaped slavery in 1837. Due to the book he became a leader for an abolitionist movement and spoke and wrote many different things about the evils of slavery. He was the most respected and famous African American in the nineteenth century. Fredrick Douglass usedRead MoreThe Narrative Of The Life Of Fredrick Douglass, An American Slave1271 Words   |  6 Pages In the â€Å"Narrative of the life of Fredrick Douglass, An American Slave, Written by Himself†, written in the month of August 1841, demonstrates the double purpose of the work as both a personal account and a public argument. Douglass introduces the reader to his own circumstances, such as grief, sorrow and emptiness in his birthplace and the fact that he does not know his own age. He then generalizes from his own experience, by explaining that almost no slaves know their true ages. He takes this detailRead MoreFrederick Douglass Narrative Of The Life Of Fredrick Douglass, An American Slave2160 Words   |  9 PagesJonathan Stang Waddell AP Language 26 July 2014 Fredrick Douglass-Narrative of the life of Fredrick Douglass, an American Slave Preface, page 4 â€Å"As soon as he had taken his seat, filled with hope and admiration, I rose, and declared that Patrick Henry, of revolutionary fame, never made a speech more eloquent in the cause of liberty, than the one we had just listened to from the lips of that hunted fugitive.† Response In this passage, Garrison attempts to express the sheerRead MoreFrederick Douglass s Narrative Of The Life Of Fredrick Douglass, An American Slave1434 Words   |  6 PagesAs the most famous abolitionist African American leader, Fredrick Douglass is a political, historical, and literary figure whose words still reverberate the true meaning of freedom and political, economic, and social equality for all. Born a slave, Douglass was able to recount his story to a pre-Civil War American public, which had a tremendous effect on the views whites had about slavery and its role in American society. Douglass became a self-educated man as he grew up within the entanglementsRead MoreNarrative Of The Life Of Frederick Douglass, An American Slave1552 Words   |  7 Pages04/23/2015 Narrative of the Life of Frederick Douglass, an American Slave, Written by Himself Theme: False versus True Christianity In this theme, Fredrick Douglass contrasts the both forms of Christianity to show the underlying hypocrisy in slavery. The results show that slavery is not religious as it exposes the evils in human bondage. These ideals however can be distorted so as to fit in the society. Two forms of Christianity are presented in â€Å"The Narrative of the Life of Fredrick Douglass and eachRead MoreThe Narrative Of The Life Of Frederick Douglass, An American Slave1093 Words   |  5 Pagesdifference.† -Frederick Douglass. The Narrative of the Life of Frederick Douglass, An American Slave, by Frederick Douglass, shares the story of the struggles of an American slave during the eighteenth-century. Fredrick Douglass was born in Tuckahoe, Maryland in approximately 1818. While being raised by his grandmother, Betsey Bailey, he snuck around at night to meet his mother nearby, assuming that his slaveholder, Captain Anthony, was his father. From adolescence, Douglass knew he was different thanRead MoreThe Life Of Frederick Douglass s Narrative Of The Life Of Fredrick Douglass967 Words   |  4 Pagesinhuman mistreatment of slaves in the United States many slaves like Fredrick Douglass had to escape to fight for freedom to become abolitionists. To expose the terror a nd cruelties that he faced from his owners and overseers as a slave as narrated in â€Å"Narrative of the life of Fredrick Douglass.† Being a slave was difficult from the beginning. In the case of Fredrick Douglass he was a product of unwanted love. Born into slavery with no record or â€Å"accurate knowledge of age.†(Douglass) He was the son ofRead MoreFrederick Douglass : A Fugitive Slave And A Free Man1192 Words   |  5 PagesFredrick Douglass (1818-1945), both a fugitive slave and a free man, was one of the most courageous and influential leaders of the abolitionist movement. His narrative, published in 1845, illustrates his childhood and early manhood experiences as a salve, as well as his escape to the North and find of freedom. Within his narrative entitled â€Å"The Narrative of the Life of Fredrick Douglass,† Douglass argues that in order to achieve physical freedom, a slave must seek knowledge and an education. InRead MoreBiography of Fredrick Douglass1294 Words   |  5 PagesWhen you think of great Americans in our history there are countless that come to mind. Some immediately think of the many presidents we have had, others think of inventors, but what about the people that are in between – the people that fought for equality. Fredrick Douglass arguably had the greatest impact on American society, especially African American society, in the nineteenth century. Douglass is credited as being an abolitionist, author, editor, and diplomat. He used literature, books, newspapers

Sundiata An Epic of Old Mali Vs. The Odyssey - 971 Words

Sundiata: An Epic of Old Mali Vs. The Odyssey The definition of an epic hero can be defined as one who is triumphant in some manner that reflects the idea of his/her culture. â€Å"Heroes have always dominated mythology, fairy tales, nursery rhymes, history, and literature. No culture seems to lack tales of human, superhuman, or god-like heroes who save the innocent from the wicked, conquer evil, and deliver the threatened and oppressed† (Shunnaq). Sundiata: An Epic of Old Mali and The Odyssey can be compared and contrasted in different ways. Both of these literary pieces are epics that contain heroes who precisely mirror the values of their respective ethnicities. While some values displayed in the epics are similar to each other, there†¦show more content†¦From this action, one can infer that the African culture believed in taking necessary precautions to obtain power, but do not believe in killing others for their pleasure. After reading The Odyssey, one can conclude that the Greek culture values stinginess , spontaneity and stinginess highly. In the epic, Odysseus was trapped on an island with the goddess, Calypso. Instead of him remaining faithful to his wife, Odysseus slept with Calypso. His actions proved that the Greek culture believed in getting what they wanted right away; they do not know what it is like to be patient. Odysseus is also known to be a very stingy character. After he invaded the cyclops’ cave, he and his shipmen, began to raid all of the cyclops’ belongings. The Cyclops eventually arrived angry, and Odysseus being bold told them, â€Å"We’re at your knees in hopes of a warm welcome, even a guest-gift†¦That’s the custom (9. 300-302).† Odysseus displayed revenge after returning to Ithaca and having a battle at his house. He killed all of the suitors who had been feasting at his estate while he was away. Mercilessly, he tortures one of the suitors, Melanthius by ripping his genitals from his body then feeding them to the dogs. That was just a personal enjoyment for him because he already planned on killing Melanthius. One easily concluded from this epic that the Greek culture does not see anything wrong with using revenge as a way of personal gain. Sundiata: An Epic of Old Mali and The Odyssey

Information Literacy and Adult Learners †Free Samples to Students

Question: Discuss about the Information Literacy and Adult Learners. Answer: Evidence based HRM Human resource management is an important concept that focuses on the management of employees and maximizes the performances in respect of the service of an employers strategic goals and objectives. At CERA, human resource management functions include staffing, compensation and benefits for the employees along with designing work and defining the roles and responsibilities of the employees to ensure that the strategic goals and objectives are met properly. According to Sheehan (2014), With the high complexity and need for making decisions at a faster rate, it has become important to make critical choices and decisions for gaining success in the future as well as ensure that the management of human resources in done properly (Sheehan, 2018). According to Marler Fisher (2013), the evidence based HRM has brought several benefits including the combining of managerial judgment with the validated rest results to select the most skilled new employees within the company (cera.org.au, 2018). It could also allow the incompetent individuals benefit more than the highly competent individuals while the task related conflicts would be reduced; thereby improve the work group performance as well. The EBHR would not only facilitate the decision making process for CERA, but would also create a positive impact on the organization as well as its employees (Marler Fisher, 2013). The evidences should be based on researches done on the HR domains including the motivation, coordination of work, organization and individual learning along with innovation and change management. Strategic value of HR function in CERA The strategic human resource management is an important concept that creates a good relationship between the high performance Human resource practices and the firm level financial and market outcomes. The strategic HRM determines the perception of employees at CERA regarding the outcomes generated based on the high performance HR practices that can create a positive impact on the HR practice and performance relationship. The strategic HR practices include managing the human resources and studying the performance of the employees along with the level of absenteeism, organizational citizenship behavior and even the commitment of the organization itself (Kehoe Wright, 2013). From the case study, it could be understood that Israel Tobin should influence Mark French by stating him about the strategic value of the HR functions and its importance at CERA. As a senior HR manager of the company. Israel Tobin could relate to the various issues that were experienced until now and how with the strategic HRM functions, it would be easy to deal with those. He analyzed the previous business scenarios and identified the gaps to check whether it could affect the organization negatively or not. The strategic value of HR function could help in focusing on the strategies and ensure improvement in the HR standardization and automation process too (Marchington et al., 2016). At CERA, there were several issues that could be overcome by the strategic value of HR functions and Mark French should understand this properly. Israel Tobin must implement the HR strategies for higher engagement of employees and enhancing the employee productivity too. The technological advancements and integrated systems could improve the HR functions efficiency as well as transform the entire value of the strategy implemented. Therefore, this is how accurate strategic value of HR function could be obtained at CERA and Mark French would be influenced as well (Jackson, Schuler Jiang, 2014). The CRAP test could be used as an effective tool for deciding whether the website or information sources were valid and credible or not. It would assess the four major areas including the currency, reliability, authority and purpose to check whether the two sources are effective or not during the process of evaluation. It would also check whether the information obtained from the sources are reliable and authentic enough or not to analyze the actual scenarios with much ease (Lengnick-Hall, Lengnick-Hall Rigsbee, 2013). The most important factor that should be considered while conducting the CRAP test could be the information currency and purpose. The credibility of the information is also important for understanding whether the sources and information to address the outcomes are reliable or not (Kramar, 2013). To evaluate the information sources accuracy, various things are needed to be considered such as accessibility to data and information and whether the information are kept upd ated or not. The collected data and information must be suitable to meet the needs of the individual wanting the information and must also be inclined with the current business scenarios. The sources of information must be able to determine the clarity and reliability so that it could enable critical and scientific thinking and at the same time, ensure successful management of human resources at CERA (Perkins, 2016). The Evidence based Human resource management allows the organization to combine the scientific evidences and critical thinking skills with the consideration of various information for managing the human resource functions with ease and effectiveness. CRAP test 1: https://journals.sagepub.com/doi/abs/10.1177/0266242612465454 Components Description Currency The journal articles are kept updated, because of which the information and data are relevant enough concerned with the human resource management. The article was introduced in 2013 and it is often updated for keeping the data and information inclined with the research objectives (Rapchak et al., 2014). Reliability The articles assessed are related to the actual scenario concerned with the management of human resources at CERA. The content is well balanced and proper references have been provided as well, which has improved the accuracy. Authority The author of the article is Maura Sheehan and the source of information is a reliable online website. It contains all the necessary information that are needed and information about the author can also be found along with his other works. There are not many advertisements, which makes it easy to collect the revenant data and information with ease. Purpose The purpose of performing the CRAP test on this article is to conduct future researches and provide the students with relevant information to know about the various aspects of human resource management (Alfes et al., 2013). Table 1: CRAP test 1 (Composed by author) CRAP test 2: https://www.tandfonline.com/doi/abs/10.1080/09585192.2013.816863 Components Description Currency The journal article was published in the year 2013 and it was updated consistently. It consisted of information regarding the HRM as well as something more, which could be essential for research conduction. Reliability The reference are provided properly along with accurate data and information about the sustainable and strategic HRM. Authority Robin Kramar is the author of the article who has provided the best quality information that are required to analyze various business scenarios and understand the importance of sustainable HRM (Kramar, 2013). There are very few advertisements, due to which information accessibility is easy and convenient. Purpose The purpose of obtaining these information and data is to conduct researches and derive positive outcomes all throughout. Table 2: CRAP test 2 Conclusions From the analysis of the above section, it could be understood that the EBHR involved making decisions as well as critically evaluated the importance of information based on critical thinking for enabling continuous learning. This could further strengthen the connection between effective HRM practices and enhance the scopes of research to allow for better decision making. There were various factors that influenced the HR practices and decision-making process and the various HR departments could also enable standardization of policies and manage the evidences properly to promote flexibility as well as benefit the people working at CERA. To influence Mark French, the assessment and monitoring of the employee performances and other related attributes were done, which would create ease in managing the human resources and ensure that the organization function properly within the business environment. Not only the HR functions efficiency would improve, but also the organization would obtai n the relevant skills and knowledge to sustain within the competitive business environment with ease. The CERA test for the two websites consisting of the journal articles was done for understanding the reliability and accuracy of the data and information required to conduct the research and understand its relevance with the concepts of human resource management too. References Alfes, K., Shantz, A. D., Truss, C., Soane, E. C. (2013). The link between perceived human resource management practices, engagement and employee behaviour: a moderated mediation model.The international journal of human resource management,24(2), 330-351. cera.org.au. (2018). Cera.org.au. Retrieved 18 March 2018, from https://www.cera.org.au/ Jackson, S. E., Schuler, R. S., Jiang, K. (2014). An aspirational framework for strategic human resource management.The Academy of Management Annals,8(1), 1-56. Kehoe, R. R., Wright, P. M. (2013). The impact of high-performance human resource practices on employees attitudes and behaviors.Journal of management,39(2), 366-391. Kramar, R. (2013). Beyond strategic human resource management: is sustainable human resource management the next approach?. Retrieved 18 March 2018, from https://www.tandfonline.com/doi/abs/10.1080/09585192.2013.816863 Lengnick-Hall, M. L., Lengnick-Hall, C. A., Rigsbee, C. M. (2013). Strategic human resource management and supply chain orientation.Human Resource Management Review,23(4), 366-377. Marchington, M., Wilkinson, A., Donnelly, R., Kynighou, A. (2016).Human resource management at work. Kogan Page Publishers. Marler, J. H., Fisher, S. L. (2013). An evidence-based review of e-HRM and strategic human resource management.Human Resource Management Review,23(1), 18-36. Perkins, K. (2016). The CRAAP Test: An Easy Fun Way to Evaluate Research Sources.RefME Guest Blogger [Internet]. Rapchak, M. E., Lewis, L. A., Motyka, J. K., Balmert, M. (2015). Information literacy and adult learners: Using authentic assessment to determine skill gaps.Adult Learning,26(4), 135-142. Sheehan, M. (2018).Human resource management and performance: Evidence from small and medium-sized firms.SAGE Publications. Retrieved 18 March 2018, from https://journals.sagepub.com/doi/abs/10.1177/0266242612465454

Transient advantage

Multicultural Awareness Paper Essays - Psychotherapy, Free Essays

Multicultural Awareness Paper Essays - Psychotherapy, Free Essays Multicultural Awareness Paper Joan Lesley, Will Darden, Susan Scott, Sarah Pherigo, Laura Rubio BSHS/335 March 30, 2015 Stephanie Chupein Multicultural Awareness Paper As a therapist becomes aware of clients values and beliefs, they have to consider their sets of values and beliefs as well. Good ethical practice begins when a therapist can respect the way others view life, although it differs from the others view. The therapist has to accept the variation of culturally learned assumptions in order to establish an effective therapeutic relationship. If a therapist chooses to practice good ethics, they must become aware of the personal issues of clients in diverse cultures if they want to be effective in their work. Therapists have to learn as much about diversity of cultures so they can build a relationship where the client feels comfortable enough. The client may want to open up and begin working on deep rooted issues which some of those issues may have come from the beliefs, values and system of their culture. References: Schneider, C., Callanan, P., & Corey, G. (2011). Issues and Ethics in the Helping Professions (8th ed.). Retrieved from 9780495812418.

Wharton-XiaYun-essay2,3,4-0920-ec Essay Example | Topics and Well Written Essays - 1750 words

Wharton-XiaYun-essay2,3,4-0920-ec - Essay Example Our conventional approach seemed to break down as we struggled with a series of unique processes and requirements. For supply chain management, an important function in any enterprise, I found not even one division that could act as a stakeholder to initiate the change in the organization. How to overcome this challenge? It seemed impossible to change the culture, mindset, and management of a firm of this magnitude in such a short time. We had to go back to the drawing board to the rethink our approach. I needed to act fast, but without taking any drastic step that would disrupt the situation and jeopardize the progress of the project itself. I needed to â€Å"reset the execution context†. I realized that it was a large community of people with different backgrounds and I should be cautious about the impact of a major cultural change on these people. Keeping that in mind, I decided that instead of trying to sweep changes into divisions as a whole, we needed to take it from the grass root level upwards and take the people into our confidence. We analyzed the firm’s processes further, drilling down to basic elements that could be benchmarked, and broke best practices into smaller solutions that could be executed quickly without major disruption. These small positive results created a confidence for the client in our team. Then we began to implement more advanced supply chain practices, setting forth a path away from the traditional logistics-based thinking. Although we could not yet reform the organizational structure, we could gather support to change the prevailing mindset and that helped accelerate the progress of the project. Then we met the client’s mid-level management and had much less trouble, creating consensus, as â€Å"change† now seemed less threatening. The impressive results we delivered, won their confidence. With the newfound enthusiasm in the decision makers, I had little trouble presenting and convincing them,

Unites States current macroeconomic status Research Paper

Unites States current macroeconomic status - Research Paper Example to zero and in effect risk inflation or raise interest rates in the near future to increase the economys productive capacity (productivity) but at the risk of furthering its recessionary tendencies or forces. The Fed has tried all the monetary tools at its disposal but the economy simply would not budge. The high unemployment rate fell from a high of 9.5% (14 million jobless) to about 9.0% (12.8 million out of work) in December of last year. It further improved to only 8.3% unemployed in February this year, with 227,000 non-farm payroll jobs added (Bureau of Labor Statistics, 2012, p. 1). Most of the new jobs were in professional and business services, health care, hospitality, mining, leisure and manufacturing. A fiscal policy the government is pursuing right now is the signing into law the JOBS Act (or Jumpstart our Business Startups) which is a fancy name for incentives intended for small businesses to more easily raise capital through crowdsourcing (Futrelle, 2012, p. 1) as it en deavors to clear away red tape and hopefully create more new jobs in the process. The Fed is a bit apprehensive about stoking inflationary pressures but the threat of a double-dip recession is a much more real risk and so the Fed is embarking on third-part installment of its quantitative ease program (QE1 & QE2) and dubbed as â€Å"Operation Twist† to bring long-term interest rates lower, but downside is it might again lead to a moral hazard and a financial bubble (Curtin, 2011, p. 1). This monetary policy of the Fed to increase the money supply is consonant with all the other pump-priming activities of the government through its fiscal policies of reducing taxes and increased government spending for certain public infrastructure projects. However, those chronic budget deficits of state governments had nullified most of the benefits of this program, as they in effect struggled to contain their deficits from large expenditures and lowered tax revenues. This was shown in August of 2011

Hrm Interventions Essay Example for Free

Hrm Interventions Essay It is also an important and comprehensive approach to manage employees in the workplace environment. HRM needs to be integrated with the overall strategy to ensure effective use of people and provide better returns to the organizations in terms of ROI (Return on Investment) for every rupee or dollar spent on them. If the HRM continues to practice this way it will lead to the success of the organization and also the organization will start utilizing its employee capabilities completely. Human resources are the most difficult resources to manage in an organization. HRM is responsible for effective designing and implementation of various policies, programs and also about developing and managing knowledge, skills, creativity and talent. HRM focuses on managing physical and emotional capacity of employees. As a result of this the range of HRM is developing day-by-day. Hence, HRM manages harmonious relationships in an organization along with maintaining a balance between organizational goals and individual goals. There are three human resource management interventions: Performance management, Career planning and development and work force diversity. Organization’s human resource specialists perform these change processes. Performance management is an integrated process in which an organizational employees are involved either individually or within a team to achieve its goals and policies. Employee performance management includes: 1)Planning 2)Monitoring 3)Developing 4)Rating 5)Rewarding 1)Planning: It means setting performance expectations and goals for groups and individuals to use their abilities to achieve organization objectives. Employees should be involved in the planning process to understand the goals of the organization. Performance appraisal plans are developed to evaluate the performance of a team or an individual by a manager or a supervisor. Performance appraisal plans should be official working documents that are put into effect. 2) Monitoring:In this stage the performance of employees is monitored and feedback is provided to the employees about their performance. Monitoring continually will help the organization to check the standards of the employees and also help them to make changes to meet the standards of the organization. This can be done by conducting status meeting and submitting reports about their progress. Any unacceptable performance can be identified at any time with the help of continuous monitoring. 3)Developing: In this phase of the process the organization helps the employees to develop their skills by providing training. Training helps the employees to improve their performance, boost their job-related skills and to withstand the changes in the workplace such as the introduction of new technology. Lack of performance of the employees can be developed in this stage and help them to achieve more goals of the organization. )Rating:In this stage the organization evaluates the performance of the employees against the standards of the organization’s performance plan. By rating the organization will come to know about its best employees. This can be done by maintaining rating record which compares the performance of the employees from time to time . The rating of record is assigned according to procedures included in the organizations appraisal program. It is based on work perfo rmed during an entire appraisal period. 5)Rewarding: Rewarding means appreciating employeesfor their performance. It can be done in different ways such as saying simple words like thank you and rewarding employees with awards based on their performance. Rewards can either be formal or informal. Therefore, all the five components in the performance management process work and support each other for effective development of the organization. Second and most important HRM intervention is Career planning and development. Nowadays most of the organizations have adopted career planning and development to increase communication and healthy environment among the employees which will result in the effective growth of their organizations. Career development programs are required to the people irrespective of age and gender for the development of the organizations. Career is the progress and actions of a person related to occupation throughout a lifetime. Different stages are present in a person’s career. There are five stages in a person’s career-Growth, exploration, establishment, maintenance and disengagement/withdrawal. Growth (4-13 years of age) is the initial stage in a person’s career where the person thinks about his/her future. Second stage is exploration (early teens to mid-twenties) where the person becomes definite about occupational choice. They do many trial jobs before deciding on their appropriate field to work. Third stage is establishment (mid-twenties to mid-forties) where the person establishes in a long-term in their chosen field. Maintenance (mid-forties to mid-sixties) is the fourth stage in which the person achieves successes in their career. They also tend to help their subordinates as they are more experienced. They try to maintain stability in their job. Last and final stage in career is disengagement/withdrawal (mid-sixties) in which the person takes retirement and try to explore new jobs. Career development helps people to achieve their career objectives. It can be linked to career planning at different stages. It includes managing a person’s career between different organizations. Career development interventions can be used for many goals. These interventions are mainly designed for young employees rather than managers. Some of the interventions which are related to career stages are as follows: realistic job preview is related to establishment which helps the person to know the work requirements. Developmental training helps the person to gain knowledge to reach their goals. This intervention is related to establishment and maintenance stages in career planning. Performance feedback and coaching comes under establishment stage which helps the person to know about their performance. Work life balance planning helps the person to maintain balance between personal and professional life. It comes under establishment and maintenance stages . Challenging assignments keeps the person engaged with interesting and creates an enthusiasm towards work. This comes under maintenance stage. Dual-career accommodations comes nder maintenance stage and it helps the person to find satisfying work projects. Phased retirement falls under withdrawal stage of a person’s career where the person retires from the job. All these interventions will result in various desired consequences such as increases job satisfaction and commitment, monitors human resources development, strengthens organizational capability, improves quality of life, maintains member motivation, increase s productivity ,decreases stress in later stages of life and also reduce turnover and training costs for the organization. Work force diversity interventions are the third type of HRM interventions. Organizations should develop their human resources in such a way that it should maintain diversity in an efficient manner. People from various regions may work together in an organization. They may differ in various ways like age, gender, marital status, social status, disability, sexual orientation, religion, personality traits, ethnicity and culture. An organization with diverse workforce can better achieve its goals. Employees from diverse workforce can learn more and achieve more experience as they work in a mixed environment. Other than the employees of the organization, clients can also gain profit from it as the organization which encourages diverse workforce will be more open and flexible. As people come from various cultures and backgrounds in diverse work force they can learn more business practices. Employees can develop their knowledge, communication skills, problem-solving capabilities through diverse workforce. All the employees need to be trained to work either individually or as a part of a team.

Grapes Of Wrath Biblical Allusions Essay -- John Steinbeck Bible Relig

John Steinbeck carefully molded his story The Grapes of Wrath to encompass many themes and ideas. He included several Biblical allusions to enforce his message of the migrating families coming together to form a community. Steinbeck alludes to Biblical characters through Jim Casy and Rose of Sharon, events like the family’s journey to California and the flood at the end of the novel, and teachings throughout the novel.   Ã‚  Ã‚  Ã‚  Ã‚  The Biblical allusions represented by the characters in the novel are most obvious in the characters of Jim Casy and Rose of Sharon. However, the Joad family is made up of twelve including Connie, much like the twelve disciples that followed Jesus. Connie represents the traitor, the Judas figure who had betrayed Jesus the night of his arrest when he walks out on his family for selfish reasons.   Ã‚  Ã‚  Ã‚  Ã‚  Jim Casy is an allusion to Jesus Christ. They have the same initials and live their lives as examples of their beliefs; Jesus to the world and Casy to Tom. Casy even compares himself to Christ when he says, â€Å"I got tired like Him, an’ I got mixed up like Him, an’ I went into the wilderness like Him, without no campin’ stuff† (105). In the first half of the book Casy is thinking and forming his ideas. He changes from a thinker to a man of action when he sacrifices himself for Tom. When in prison Casy sees the advantage of organizing people to achieve a common goal. When Casy tried to put his ideas into action he, like Christ, aroused the antago...

Elements of Art in the Reproduction of the “Blue Bird” Essay

Reproduction of the â€Å"Blue Bird† fresco, ca. 1700-1525 B.C. Watercolor on paper. Metropolitan Museum of Art, New York. Line: For this assignment, I chose the Reproduction of the â€Å"Blue Bird† fresco. This is a very interesting piece. The very light, almost fragile lines, combined with the watercolor medium, give this piece a very delicate appearance. The watercolor medium allows much of the lightness of the paper underneath to reflect through the colors to give the painting an overall lustrous appearance. Most of these lines seem to bend and sway, creating movement toward the blue bird, making the bird itself the focal point of this piece. Color: While the painter did not seem interested in using a lot of different hues in this painting, it was painted with values ranging from pure white to medium values of grey. If you notice, the red hue used is much less saturated, making it a darker tone than the more saturated, more pure blue hue of the bird and the nearby f lowers. Texture: The overall physical texture of the painting, I imagine, is very smooth to the touch because it is a watercolor painting. However, texture can be simulated through the use of line as it was done here. The stylized, curving lines near the bottom of the painting indicate a rocky coastline. They imply texture. Texture doesn’t seem to be something that the painter was overly concerned with making part of their work. Shape: Many of the shapes surrounding the focal point are left implied. The painter seemed to want to keep the attention focused on the blue bird and thus, did not fill these shapes with color or detail. The shapes that were given full form were done so with curved, more organic lines rather than sharp, angular lines associated with more geometric shapes. Form: This painting takes the form of a fresco, as it was originally part of a large series of panels that covered a large wall. Since this is a watercolor painting rather than a sculpture, the forms are illusionistic. They cannot be viewed from all angles and have no actual measurable depth and volume. Space: Much like texture, Space does not appear to have been a major concern to the painter. The overlapping forms do indicate a progression of space; however, there is little else to create the illusion of depth.

Case Study of C C - 1004 Words

1. In general, how did CC’s first organizational structure contribute to the store managers’ dissatisfaction? C C Grocery’s initial organizational structure operated under a vertical linkage. Vertical linkage is utilized to â€Å"coordinate activities between the top and bottom of an organization and are designed primarily for control of the organization† (Daft,2013) Store managers were responsible for the grocery line, front-end department and general store operations but had little knowledge about merchandising, meat and produce. Instead, their duties included cleanliness of store, employee appearance, and sufficient checkout service and price accuracy. Store managers wanted to be trained in management skills to allow them opportunity†¦show more content†¦The store manager asked the produce and meat managers to display some of the cola but was denied any help by the produce manager as he claimed this did not help his sales and he did not care about the campaign.(Daft,2013) Decisions and strategies were being made without any regard to include the store as a t eam. Another factor that contributed to poor cooperation was failing to provide these managers with opportunities to learn skills for promotions, which lead to resentment and poor morale. Departments were unable to effectively work together and build strategies as team but instead were working towards their own agenda. The â€Å"serve the customer† mentality created by Doug Cummins no longer existed in the stores. 4. How would the proposed reorganization address the problems addressed in each question above? Under the new proposed restructuring, the meat, grocery and produce departments would all be under the store manager. This helps improve the frustration the store managers had with the lack of authority with the meat and produce department managers. Store managers can work more closely with the department managers to learn what their department goals and issues are to work on combined strategies that benefit their store. By continuing to work as team towards common goals, more trust will be formed and the store will operate more efficiently. This allows the district supervisor to now focus on training and development, as the consultants proposed theShow MoreRelatedHepatitis C Case Study1191 Words   |  5 PagesIntroduction and rationale Hepatitis C virus (HCV) is a worldwide problem. Globally, it was estimated that in 2005, more than 185 million people had hepatitis C virus (HCV) antibodies (prevalence of 2.8 percent) 1. The condition has been worsened in Egypt as it has the highest HCV prevalence in the world 2. Egyptian Health issues Survey (EHIS) in 2015 estimated a prevalence of 10 % for sampled population 26.172 had positive antibodies to HCV, however only 7 % were found to have HCV RNA 3. HCV alsoRead MoreCase Study On Hepatitis C1511 Words   |  7 PagesThe purpose of this case study on Hepatitis C (HCV) is to come up with a process improvement plan of getting patients screened, approved, educated, and started on treatment within a 20 day period. In order to make this happen, everyone in the clinic needs to be educated on the required clinical screenings and documentation. The case study is designed for: medical assistants, pre, post, tumor, and organ management nurses, and nurse practitioners. The case study will be reviewed over the next twoRead MoreCases Study 4 C846 Words   |  4 Pages1. Identify, illustrate and describe the type of structure that best describe the organization, CG Chocolates. 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The Love Song Of J Alfred Prufrock Analysis - 872 Words

T.S Eliot’s â€Å"The Love Song of J. Alfred Prufrock† is a literary work that entails the life of an indecisive, intellectual man of great solitude. The beginning of the poem sets a disillusioned and nostalgic tone of the poem. It vividly recounts some of Prufrock’s dealings with various women, who took an interest in Renaissance artist Michelangelo. It further elaborates on the yellow fog that covers the windows to his social life of the outside world. Prufrock appears to be a middle-aged, modern man plagued by feelings of isolation and frustration. T.S Eliot utilizes the life of Prufrock to symbolize his ideas of the modern man. Eliot’s use of farcical language generates an atmosphere of questioning as to why Prufrock could not overcome his†¦show more content†¦Prufrock subconsciously opts to indulge in his contemporary and psychological life of love, rather than his realities of his hell, his life. Furthermore, based on the title of the poem, T.S Eliot likely wanted to imply a farcical aspect of the poem. For instance, Alfred Prufrock was a man of many opportunities, however, most of the poem centers around his lack thereof. Additionally, both time and space are subjective to Prufrock. Timings of each memory are hard to pinpoint due to the order in which the memories are presented, causing an organized misperception of tenses and periods. Thus, memories of his past and present seem to become infused with one another, vice separate happenings. In detail, whenever memories are described within the poem, Prufrock is paralyzed in a seemingly confused state. His thoughts are described in a present tense, but judging from another context of the poem, all his dealings with women were in the past. Prufrock was simply reflecting on his life. He is aware that he is growing old, and that he is running out of time to find a true love. Prufrock is desperate for assistance with his shortfall s but has none. So, he accepts his fate, hisShow MoreRelatedAnalysis Of The Love Song Of J. Alfred Prufrock1386 Words   |  6 Pagesâ€Å"The Love Song of T.S Eliot† In â€Å"The Love Song of J. Alfred Prufrock† the reader can clearly understand that T.S Eliot is straightforward as one can get within a poem. In the beginning of the poem, one can infer that Prufrock is being used as a facade to convey Eliot’s inner self who is an introvert that doesn’t quite fit in with the modern day society. â€Å"Prufrock† sees his personal life as a burden that he cannot mend while he tries to conform into the middle class society that everyone views asRead MoreLiterary Analysis Of The Love Song Of J. Alfred Prufrock Essay1336 Words   |  6 PagesA Literary Analysis of T.S. Eliot’s â€Å"The Love Song of J. Alfred Prufrock† T.S. Eliot was one among few poets and authors that dominated the years between the First and Second World Wars. 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Alfred Prufrock Essay602 Words   |  3 PagesAnalysis of The Love Song of J. Alfred Prufrock J. Alfred Prufrock constantly lived in fear, in fear of life and death. T. S. Eliot divided his classic poem into three equally important sections. Each division provided the reader with insight into the mental structure of J. Alfred Prufrock. In actuality, Prufrock maintained a good heart and a worthy instinct, but he never seemed to truly exist. A false shadow hung over his existence. Prufrock never allowed himself to actually live. He hadRead MoreLiterary Analysis Of The Love Song Of J. Alfred Prufrock1497 Words   |  6 PagesLiterary Analysis of The Love Song of J. Alfred Prufrock The human psyche has perpetually been characterized by a nagging sense of doubt. 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Alfred Prufrock1529 Words   |  7 PagesAnalysis of the setting of the poems â€Å"The Love song of J. Alfred Prufrock† and â€Å"Something Whispered in the Shakuhachi† â€Å"The Love song of J. Alfred Prufrock† and â€Å"Something Whispered in the Shakuhachi† are poems written by T.S. Eliot and Garrett Hongo correspondently. Both poems put a great emphasis on the depiction of the narrator’s emotion. The poems are focused on feelings and emotions of their narrators. At the same time, it should noted that a lot of attractive in both poems is given to the settingRead MoreThe Love Song Of J Alfred Prufrock Analysis934 Words   |  4 Pagesyou do something that you love than you will have a deeper desire to continue or to succeed in it. In The Love Song of J. Alfred Prufrock a man doesnt know why his life is so horrible. He wanders the streets of his past looking for why hes life is so dull. The man doesnt know what is wrong with his life, he doesnt understand why life is so hard. T. S. 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Alfred Prufrock† by T.S Eliot feels trapped which caused him to have disorders. Nothing has never changed from living in the same city and not using his time wis ely. He tried numerous ways to approach women but his low self esteem stopped him from moving forward. Although Prufrock seems like a miserable person, Prufrock suffers from obsessive compulsive disorder, depression, and paranoia that caused him

The Ut Campus - 945 Words

In the culture of Austin, I have observed walking as the â€Å"strange in the familiar†, specifically on the UT campus. On the UT campus, we walk just about everywhere. Although some individuals have bikes or scooters or ride the bus, most students walk from class to class. On Guadalupe, before the walk sign appears, students are usually already in the crosswalk because they have watched the stoplight change from yellow to red. Some individuals step into the street without even checking to make sure that all traffic has stopped. The â€Å"look both ways before you cross the street† philosophy seems to have been forgotten, and now students have the mentality that the cars will always stop for them. Students have adapted to the UT community and assume that cars will stop for them, but forget that there are still people who run red lights or roll through stop signs I became aware of this phenomena when I was walking home one day, and an individual on their phone was almost hit by a car who ran a red light. This phenomena does not just occur at intersections with stoplights, but also at various intersections in main campus, in west campus, and around campus. The students and faculty of the UT Austin community make up a subculture within the Austin culture. We are united by concepts and values that are distinct to our campus (Conley, 2015). As a freshman, you adapt to the UT Austin community and you learn how to carry yourself as a UT student, upholding the UT values and falling intoShow MoreRelatedDiversity And Inclusion Of Diversity1152 Words   |  5 Pagesparticular societal group. Diversity and inclusion on campus are very important aspects of our day to day life. Diversity and inclusion are very important because of the advantage which come alongside them. Some benefits of Diversity include promotes celebration, ability to effectively h andle barriers, balance of individuality and group identity, collaboration and innovation appreciation of one’s own culture, interaction and networking. A diverse campus is a where individuals freely interact with peopleRead MoreStatistics : Collecting Crime Statistics1206 Words   |  5 Pagespolice website. In the last three years UTA and UT Austin have not had any murders or negligent manslaughters. UTA has reported 17 sex offenses while UT Austin has reported five. UTA has had fourteen robberies and UT Austin has had six robberies in the last three years. UTA has only reported their aggravated assaults which they have had eight in the last three years. UT Austin goes more in depth and reports both simple assaults and aggravated assaults. 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Contracts and procurement Essay Example For Students

Contracts and procurement Essay Watt family owns the Whitegates House and Whitegates Lodge situated in 35 acres of land on the periphery of the town. After the failure of numerous investment decisions the family was not in a position to maintain the estate for a long time.  A consortium of local businessmen called Heriot Developments purchased the entire site from Watt family. The directors of Heriot developers are all experienced in the Hotel and Leisure industry. Developer proposed the following developments keeping the existing buildings: The hotel and country club would be developed by modifying Main house. The main house shall include main reception, lounge bar, restaurant and function/meeting amenities. Two new buildings were proposed to be constructed one as 100 bedrooms facility and the second as a country club. The country club building shall also include swimming pool, sports hall and gym with related facilities such as reception, changing areas, bar and bistro restaurants. The White gates Lodge was proposed to be developed as a club house. The developer proposed a golf course by utilizing a part of the ground along with the landscaping retaining the natural beauty to groom the Hotel.  The developer provided an excellent briefing due their expertness in the hotel industry. They were really concerned over the lack of experience in managing the design and construction of their proposed project. They were not much aware of the various problems that could occur during the construction and the suitable recommendations to solve the problems. They were keen to utilize the development stage to create a positive image within the vicinity of the community. They wanted this project to be a high quality prestigious project manages within the budget. Time was also being an important factor specially the construction could be completed within the time frame would have generated income from the investment. Heriot developers approached a local Management consultancy Richard Arton Associates to seek advice addressing their concerns. RAA assigned this task to one of their senior consultants to prepare a detailed report considering the following:  D B provides single point responsibility so that in the event of building failure the contractor is solely responsible. The client knows the total financial commitment early in the projects life. Competition between the contractors proposal provides economical tenders and alternative design proposals. Nature of the contract reduces the variations and the client can save time and cost. Develop and Construct consultants are initially appointed for the scope design and provide single point responsibility. Competitive tenders are invited from several contractors who can develop and complete the design and then construct. Risk and disputes are more due to the confusion arises in the design how much is completed by the consultant and how much balance remains to be carried out by the DC contractor. Only advantage is that the client can use contractors expertise in buildability and procurement skills can potentially bring economies to both. Develop and construct is discarded because of the uncertainty in the design. Client employs the contractor for its ability to complete the project, not for its ability to offer design changes which is not acceptable. The client required professionals to review and solve the day to day occurring problems during the construction and DB and DC do not have separate management team to advice. Design and built is not applicable because it gives least priority for the aesthetical appeal. Buildability is not a major concern and DC takes long time for the approval of the design. Design and Manage combines some of the characteristics of Design and build and the Management. Even though the client appoints a single firm for the design and delivers the project, the construction work is tender for specialist contractors and provides alternative means of selecting the contractor. The appointment of a project manager reduces the involvement of the client with the project team. .u761bd41c5f184c096c18e294d15c78b0 , .u761bd41c5f184c096c18e294d15c78b0 .postImageUrl , .u761bd41c5f184c096c18e294d15c78b0 .centered-text-area { min-height: 80px; position: relative; } .u761bd41c5f184c096c18e294d15c78b0 , .u761bd41c5f184c096c18e294d15c78b0:hover , .u761bd41c5f184c096c18e294d15c78b0:visited , .u761bd41c5f184c096c18e294d15c78b0:active { border:0!important; } .u761bd41c5f184c096c18e294d15c78b0 .clearfix:after { content: ""; display: table; clear: both; } .u761bd41c5f184c096c18e294d15c78b0 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u761bd41c5f184c096c18e294d15c78b0:active , .u761bd41c5f184c096c18e294d15c78b0:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u761bd41c5f184c096c18e294d15c78b0 .centered-text-area { width: 100%; position: relative ; } .u761bd41c5f184c096c18e294d15c78b0 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u761bd41c5f184c096c18e294d15c78b0 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u761bd41c5f184c096c18e294d15c78b0 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u761bd41c5f184c096c18e294d15c78b0:hover .ctaButton { background-color: #34495E!important; } .u761bd41c5f184c096c18e294d15c78b0 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u761bd41c5f184c096c18e294d15c78b0 .u761bd41c5f184c096c18e294d15c78b0-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u761bd41c5f184c096c18e294d15c78b0:after { content: ""; display: block; clear: both; } READ: Dancing at Lughnasa EssayThe project manager is a professional with the experience of identifying, reviewing and solving the various problems occurring during construction with suitable recommendations, also keeping a proper balance between finance, feasibility, design, time and quality. Over all project planning and control is by the project manager and the consultants. Parallel working reduces the total project duration provides consequential cost reductions as the client is able to utilize the building by obtaining a quicker return without affecting the inflations as per the requirements of Heriot Developers, the senior consultant from the Richard concluded the selectio n of design and manage as the most suitable procurement path.

Scholarship Essay Essays - , Term Papers, Research Papers

Scholarship Essay "Did life exist on Mars?" "What would it take to build a spaceship that could travel at the speed of light?" "When will the moon be colonized?" These are just some of the questions that wander through my mind all day. Fascinated by the secrets of the universe, I yearn to uncover mysteries. In order to blast open all the closed gates between knowledge and myself, I need the powerful tools of education. After I graduate from high school, I plan to attend a college or university that has strong mathematics and science departments. Even now, I am actively preparing to enter the realm of science, taking college-level math and physics classes through the Running Start program. Upon receiving a college degree, my life-long dream is to engage in scientific research for NASA. Unfortunately, most colleges notable for their academic standards are also renowned for costly tuition. My family consists of one working parent and two children who wish to attend college. Receiving the Lacamas Credit Union Scholarship would lighten the financial burden on my family and would enable me to pursue my dream. Perhaps then, my questions could be answered.

Northern Rock Risk Management Essay Example

Northern Rock: Risk Management Essay Northern Rock plc Risk Management Home Assignment Northern Rock plc Risk Management Home Assignment Authors: Serghei Leahu Alexandru Mangir Mihail Mavrin Seminar leader: Herbert Windsor Authors: Serghei Leahu Alexandru Mangir Mihail Mavrin Seminar leader: Herbert Windsor Table of Contents Executive summary2 Economic and financial environment description3 Causes and circumstances of incurred losses5 Errors by the organisation8 Errors by internal and external supervising authorities10 The internal authorities10 The external authorities10 Effects on other commercial organisations12 Conclusions14 References15 Executive summary According to the House of Common’s Treasury Committee’s Fifth Report of Session 2007-08 â€Å"The run on the Rock†, on the evening of Thursday 13 September 2007 at 8. 30 PM the BBC announced that Northern Rock plc had asked for and received emergency financial support from the Bank of England. The terms of the funding facility were finalised in the early hours of Friday 14 September and announced at 7. 00 AM that day. That day, long queues began to form outside some of Northern Rock’s branches; later, its website collapsed and its phone lines were reported to be jammed. The first bank run in the United Kingdom since Victorian times was underway. The purpose of this home assignment is to critically discuss the Northern Rock plc bank run from a faulty risk management perspective. We seek to examine what were the causes of the collapse of Britain’s fifth largest mortgage lender, associated consequences for both the bank and other financial institutions (both domestic and international), the way authorities coped with this event and possible lessons to be drawn about proper and improper risk management. Economic and financial environment description We will write a custom essay sample on Northern Rock: Risk Management specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Northern Rock: Risk Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Northern Rock: Risk Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer For a better understanding of the details of risk management problems that engulfed Northern Rock plc, it is of vital importance to first and foremost take a look at the financial environment during the period of the loss. Real GDP growth projections as of 4 April 2007 Country/Region| 2006| 2007| 2008| United States| 3,25| 2,25| 2,5| Western Europe| 2,75| 2,5| 2,25| United Kingdom| 2,75| 2,75| 2,5| Other West Europe| 3,75| 3| 2,75| Euro area| 2,75| 2,5| 2| Emerging markets| 7,25| 6,5| 6,25| World(WEO weights)| 5,25| 4,25| 4,25| In August of 2007, the UK found itself affected by global financial chaos. Citing bank Credit Europe (2007), the liquidity crisis originated from the US subprime mortgage market. In mainland Europe, the crisis is believed to have been triggered when French based bank BNP Paribas suspended three of its investment funds that were exposed to the US markets that traded toxic assets, as reported by BBC News on 9 August 2007. As a result, share prices plummeted and banks would not continue lending to each other. So, all major central banks around the world started injecting liquidity into their domestic markets in similar attempts. The European Central Bank sought to calm the tide by reportedly pumping $130 billion in the European banking system. It sought to satisfy Eurozone liquidity demands as fast as possible, unlike the Bank of England who left UK banks claims for liquidity unsettled. The Bank of England did not follow suit and took no contingency measures in order to protect against moral hazard. Their rationalisation was that an injection would induce banks to take on more liquidity risk, resting sound knowing that the Bank of England would find a way to save them. Injecting money into economy to prevent crisis have two major risks, first one is slowing growth too much in case of trying to avoid issuing new money, and second one is that inflation pressures will rise in case of issuing too much , at the end even with a greater slowdown. Due to these risks, the bank of England did not inject money into the UK financial system. Also, behind the economic environment a large effect on any business has the political environment. Its effects are even greater during a period of critical time in financial systems where trust and confidence is very significant. In the UK for example, the financial system is regulated by the Tripartite system: the Bank of England, the Financial Services Authority and the Treasury. According to Aldrick (2007), although their roles are clear, there was no overarching authority when the crisis struck, which meant that everyone was pointing fingers around, but nobody was able to take the large chunk of responsibility for reactionary measures. In retrospect, how come Northern Rock, out of all of the UK’s financial institutions, proved to be the weakest link? Why had the credit crunch affected it in such drastic fashion? Was it a victim of its own doing or were other external forces involved in the bank run? We aim to answer these questions under following headings. Causes and circumstances of incurred losses According to ex-Unilever, British Gas and KPMG manager Mike Barnato, risk is the antagonist of opportunity. No ships would ever leave port if captains wanted to avoid risks associated with sea travel. Therefore, risk must be managed in order to achieve objectives at all levels: private, corporate, state. However, the old-fashioned approach to risk management such as detect risk, measure probability, gauge effect, and identify reactions, habitually disregards broader people and strategic matters. As stated by the Financial Services Authority, liquidity risk is defined as â€Å"the risk that a firm, although balance-sheet solvent, cannot maintain or generate sufficient cash resources to meet its payment obligations in full as they fall due, or can only do so at materially disadvantageous terms. † Originally established as a building society, Northern Rock demutualised in October of 1997 and became a plc. The banks consolidated balance sheet grew no less than sixfold, as a result of a complete overhaul in its corporate strategy. According to the Treasury Committee Report (2008), CEO Mr Adam Applegarth claimed that Northern Rocks assets increase by 20% plus or minus 5% for the last 17 years. Sustainability for the high growth of assets was to come from a restructuring of its liabilities. The year 1999 marked the beginning of the so-called originate and distribute model, which involved originating or purchasing loans and transferring them to SPVs (Special Purpose Vehicle), which in turn package these loans into collateralised debt obligations (CDOs) to sell to third party investors. Approximately 50% of Northern Rocks funding (coming from securitised notes) was provided by SPV Granite, registered in Jersey. The constantly growing funding need was due to be met by means of securitising bonds using a LLP (Limited Liability Partnership), which allowed the bank to continue holding its assets and issue asset-backed securities on their basis. This was a lucrative and quite secure deal for investors. As wholesale funding dramatically increased, the proportion of retail deposits as means of funding gradually decreased, by 2006 totalling 22. 4% of total equity and liabilities as opposed to no less than 62% in 1997. It is a widely acclaimed fact that the Northern Rock crisis was caused by an verly aggressive business model, which relied mainly on wholesale market funding, rather than its own deposits. Rapid growth was understandable, because funding from deposits would nowhere near be as potentially high as wholesale funding. Nevertheless, this reliance exposed the bank to an imminent liquidity risk. UK money markets were bound to be hit by a liquidity crisis, following tension in the US as the F eds interest rate was all over the place. The first half of 2007 saw mortgage lending go up by 31% compared to the same period of 2006. Northern Rocks loan book quality was a clear sight for sore eyes, as lending quality drastically decreased. The bank was giving away mortgages left and right to customers whose credit worthiness was shady to say the least. It is no surprise that many similarities can be drawn between Northern Rocks business model and the business model of US mortgage lenders. However, surprising is the fact that Northern Rocks management apparently did not attempt to manage the obvious liquidity and operational risks having examples of mortgage lenders over the Atlantic that were clearly pushing the envelope. According to the Treasury Committee Report (2008), on 9 August 2007 it became crystal clear that Northern Rock would face severe problems if the money markets continued to be frozen as they were. It was on that day that the banks traders noted a dislocation in the market for its funding. This was the effect of a global financial system shock triggered by the US subprime mortgage market. While this shock was originally credit based and it did not directly expose Northern Rock to the dreaded liquidity risk, its effects questioned the value of asset-backed securities and related products held by large financial institutions around the world. Overall market liquidity was very shaky due to the fact that holders of asset-backed securities did not have information regarding loan quality and default rates, to which originators of these securities did have access, so the funding of these financial instruments became problematic. As Northern Rock was running low on cash since its last securitisation in May and another one was due in September at the earliest, the liquidity freeze hit the bank with disastrously poor timing. Even so, better timing would not have saved it from trouble, due to the prolonged duration of this drying up of money markets. Northern Rocks business model was unique in the sense that the central part of its business strategy was securitisation. The bank relied heavily on short-term funds, while as most banks opt for marginal securitisation of assets. In addition, a property of this aggressive model is that it exposes a bank to the so-called LPHI risk (low probability-high impact). In essence, the low probability is derived from the fact that the drying up of money and capital markets on a large scale is improbable. The high impact relates to the almost exclusive reliance on high liquidity for the bank to be able to fund its operations. According to David Llewellyn, citing his work The Northern Rock Crisis: A Multi-dimensional Problem, in the context of Northern Rock, the LPHI risk is composed of three micro risks: a) the risk of the bank being unable to re-receive funds that reached maturity, (b) the risk of being unable to securitise the planned mortgages, (c) the cost of funding would rise relative to the mortgage loans it kept on its balance sheet. A pivotal role in the subsequent events linked to Northern Rocks failure was the run on deposits which equalled about ? billion, dubbed The run on the Rock by the media, which took place from Friday 14 September to Monday 17 September. Once the run had begun, two factors kept its momentum: a) depositors were becoming more and more aware of the fact that Northern Rock would cease to be a going concern, were the run to continue; (b) deposits above ? 2,000 were not guaranteed in full to customers, which dramatically increased the awareness of a large amount of depositors that previously were not in touch with the shocking scale of their potential losses. As a result, the Bank of England had to implement an immediate emergency facility programme for the bank, which was previously considered as a backstop, rather than a reactionary safety net. Naturally, customers acted completely rationally and logically seeking to save their deposits by joining in on the run having heard about the distress of their bank on the news. This psychological factor shifted the issue from being one of the Northern Rock customers to a rather large scale crisis that affected any persons belief in the banking system. As a result, the following months saw the Government discussing takeover offers from various companies, notably Virgin Group, Olivant, JC Flowers, Lloyds TSB. However, according to an announcement by Northern Rock, all the bids were rejected, because they were materially below the previous trading value. As such, according to Elliot, Seager and Inman (2007), the Government arranged an emergency legislation to nationalise the bank, in the event that takeover bids fail. On 17 February 2008, following unsuccessful bids to take over Northern Rock, Mr Alistair Darling, the Chancellor of the Exchequer, announced that the bank was to be nationalised, as mentioned by BBC (2008). Errors by the organisation â€Å"Northern Rocks risk management framework is designed to maintain and continually improve the established processes and tools for the identification, assessment, control and monitoring of existing and future risks. Northern Rocks approach provides a mechanism for the active identification, assessment and communication of risks throughout the business†. Northern Rock Community Report (2006) We will soon come to prove that the above statement is completely false. First and foremost, it must be noted that the Board and management team of Northern Rock rightfully took a large chunk of blame for their irresponsible and incompetent actions. In the chase for rapid growth and profits through securitisation, they clearly missed out on a basic principle of risk management which is the diversification (spreading) of risk. While Northern Rocks management and Board clearly placed all of their eggs in one basket, it was obvious that should an improbable (although completely unavoidable) liquidity shock hit the UK markets, theyd be in head spinning trouble. The bank had a proper approach to risk management. It covered liquidity, credit, operational and market risk, which were described in detail in its filing for the US Securities and Exchange Commission. Northern Rocks assets were looking strong, therefore credit risk was insignificant. In terms of market risk, FOREX and interest rate fluctuation exposures were managed properly Nonetheless, its management clearly did not take into consideration the fact that if the access to short-term funding was impeded, it would end up facing a huge liquidity crisis. Therefore, as the US sub-prime mortgage crisis (mortgage backed securities were the meat of Northern Rocks funding) unravelled, the bank became exposed to liquidity risk. In addition, the management apparently did not have a plan B to funds its activities in case the money markets dried up – an operational risk. The Tripartite authorities might be frowned up as being short-sighted in respect to the Northern Rock case. However, the banks CEO, Mr Applegarth, and his Board are the ones responsible of failure to identify the risks associated with their aggressive and reckless business model, or for being foolish enough to indeed identify the risks, but deciding to ignore them, in hopes that bad luck would strike elsewhere. The need to balance risk appetite and return is a basic business principle, however risk must be managed consciously, continuously and actively. Steve Boyle, in his article Avoiding the next Northern Rock goes so say that it is important to note that although the contemporary business model (coupled with legal frameworks and regulators) encourages companies to ignore inconvenient truths, ultimately the companies themselves are to blame for their failure to handle their risk appetite. It is surprising to find out that CEO Mr Applegarth did not respond to the Bank of Englands interest rate increase in any reasonable way. Liquidity conditions were tightening up on a global scale for a fair amount of time and although these were not drastic enough to raise a panic, the bare minimum questions How are we prepared for this? Are we at all prepared? should have been raised. Despite obvious indicators of an unstable interest rate environment, Northern Rock continued giving out mortgages for 125% of house valuation, paying little to no respect to risk management. Did Mr Adam Applegarth even want to see the impending funding shrinkage? Probably, by sitting down and giving it an objective though he would spot the effect of rising interest rates on the UK financial markets. As stated in the Treasury Committee Report (2008), Northern Rock’s continued expansionary lending policy required the continued success of its funding strategy at a time when there were indications of potential problems on the funding side. Although the Bank of England was keen to identify the potential risk of wholesale funding for banks should the money markets lose its liquidity, the managers at Northern Rock did not heed this warning. The reliance on short and medium term funding was not met with any kind of standby facility, leaving liquidity risk completely uninsured. This high risk, reckless strategy was formulated by the Board and overseen by long serving directors. Yet, it was not met with any kind of restraining from the Chairman of the Board, Chairman of the Risk Committee, internal audit staff, which is at the very least surprising. In reality, the Board and management kept ploughing at their reckless business model, believing that standby facilities are a waste of money. Errors by internal and external supervising authorities The internal authorities One cannot detach internal control from corporate governance, because it is the Boards responsibility to monitor significant risks and to ensure that internal controls are effectively involved in their proper evaluation and handling, but most importantly the Board must always induce internal controls to be cautious while dealing with risk because of their ever elusive nature. It is quite a possibility that Northern Rocks internal controls were not up to par and were giving out the rest of the company completely the wrong message. As stated in an article on cimaglobal. com, Northern Rocks filings to the SEC give the impression that its main concern was regulatory conformance, rather than its overall control environment. According to the Treasury Committee Report (2008), part of the oversight of the liquidity strategy of Northern Rock was conducted by its Risk Committee, chaired at the time by Sir Derek Wanless, a non-executive member of the Board of Northern Rock. Sir Derek Wanless is reported to have said that the Risk Committee looked at the issues of [their] funding strategy and what the risks were†. He went on to defend the role of the Board and the Risk Committee, telling the Treasury Committee that â€Å"The Risk Committee and the Board did [their] job, in my view, properly through this period. The external authorities The external regulation of Northern Rock plc was conducted by the Financial Services Authority spanning from 2005 to 2007. Its handling of the events of August-September 2007 received wide criticism. In the following paragraphs we aim to describe the poor regulation of Northern Rock that went hand in hand with mismanagement that ultimately led to its collapse. Citing the Treasury Committee Report (2008) on Northern Rocks failure entitled The run on the Rock, London School of Economics Professor Willem H. Buiter was found stating that â€Å"The FSA did not properly supervise Northern Rock. It failed to recognise the risk attached to Northern Rock’s funding model. Stress testing was inadequate. † According to an IMF working paper, a stress test is termed as the revaluation of a portfolio using different sets of assumptions, the goal of which is to assess the sensitivity of the portfolio to changes in various risk factors. It is curious to find out that while the FSA had been highly unsatisfied with Northern Rocks stress testing procedures; it did not notify the banks management team to immediately adjust these procedures. In addition, while the Board did continue to conduct stress testing, their methods were inadequate and the Financial Services Authority failed in its duty to guide the Board towards ensuring that the bank was ready to handle a market shock. A prime indicator of running a big risk financial plan is rapid expansion. The FSA had acknowledged obvious red flags concerning the banks rapid market share expansion, as well as decreases in share price from February 2007 which translated into Northern Rocks extremely risky business model. Yet, the regulator merely underwent into a greater regulatory engagement, which pretty much failed to target the root weakness – the funding model. As mentioned by the Chancellor of the Exchequer quoted in the Treasury Committee Report (2008), the FSA did not deem liquidity regulation as important as solvency regulation. It brings up the question whether the FSA is actually competent of handling liquidity related shocks at all. We believe that this was a substantial failure in regulation, which eventually no less than fuelled the forthcoming chain of events. An increase of 30. 3% of Northern Rocks interim dividend was made public on 25 July 2007. This was the result of, as CEO Mr Adam Applegarth put it when you get your Basel II approval, the relative risk weighting of certain assets in your balance sheet changes [†¦] our risk weighting for residential mortgages came down from 50% to 15%, which clearly requires less capital behind it, which explains the increased dividend. Unfortunately, we are of the same opinion as the Treasury Committee Report (2008), which notes that this approval came at the most untimely moments. In doing so, the FSA allowed Northern Rock to singlehandedly weaken their own balance sheet at a time when the FSA was itself battling liquidity problems in the financial sector. The support operation announcement by the Tripartite authorities was apparently to be treated with great delicacy, because they were aware that it might have the complete opposite effect than calming the depositors. We, the authors, believe that the authorities acted extremely rashly in the whole process of stating the Government guarantee of supporting Northern Rock through its crisis. They failed to plan the announcement prior to 16 September 2007. It is also worrisome that the announcement was not made before the markets opened the following day. This led to a delay in the guarantee until the evening of the fourth day after the run started, which made the bank run even more prolonged and severely damaged the already whimpering health of the bank. Yet another area of concern is that the Financial Services Authority completely overlooked the fact that Northern Rocks CEO was not a qualified banker, albeit he possessed significant work experience. Mr Adam Applegarth did not have any training qualification and as such, this absence ought to raise major question marks. To sum up, Northern Rocks failure was not entirely the fault of its management; it was also the fault of its regulator, the Financial Services Authority. Evidently, sufficient resources were not assigned to the watching of a banks business model that was so obviously screaming Look at me! Moreover, the FSA did not seem to give the air of confidence of a supervising authority that knew how to handle a particular financial institution rather than targeting an aggregate group. Effects on other commercial organisations It was on the 9th of August when the world changed. Adam Applegarth, Northern Rock plc CEO The effect of Northern Rock crisis spread shockwaves all around the financial markets and most importantly to the UK, adding an unexpected swing to an already unstable financial situation that could go from bad to worse in an instant. As said before, on 9 August 2007 money markets froze and the short-term funding that Northern Rock so heavily relied upon (it made up roughly 60% of the right side of its balance sheet) squeezed considerably. The Northern Rock crisis was a signal which raised awareness of other banks with a similarly risky business model on upcoming problems and showed the need to concentrate on actively managing liquidity and operational risk. In the midst of the crisis, it was evident that banks became reluctant to ask the Bank of England for liquidity facilities, because it might have been treated as Northern Rock clones. Furthermore, such facilities were obviously not going to be offered in a confidential manner. Even if the Bank of England did keep things hushed, word would spread anyway and a simple case of extra liquidity claim would cause devastating panic. The Newcastle-upon-Tyne based bank was the first of its kind, the first in a notable list of banks that were nationalised during the crisis that took the United Kingdom by storm. Next on the list came Bradford and Bingley, Heritable Bank and Kaupthing Edge which were all also nationalised. The nationalisation of Northern Rock increased national debt by an additional ? 00 billion, which was due to be settled by no later than June-July of 2010. In addition, The Bank of England pledged to pay off Northern Rocks debts consisting of the following: * loans (approximately ? 25 billion ) * guarantees (approximately ? 30  billion) * value of company (approximately ? 1 billion) Another consequence of this failure was that Northern Rock was responsible for about one fifth of all mortgage business. With its collapse and also in close cooperation with the overall mortgage crisis, it struck individuals at the heart of their fears – uncertainty. At least 2,000 employees were dismissed as a result of the collapse, even if Alan Clarke, Chief Executive of the Development Agency stated that there was a demand in qualified Northern Rock bank workers and that there was a big chance of a slight increase in unemployment level. Also, hedge funds and investment banks were also affected, workers seeing their spending power reduced by lower bonuses, or even curtailed by job losses. Finally, the cuts are a blow for job prospects in north-east England where Northern Rock was one of the biggest employers. Lloyds TSB was keen on helping Northern Rock reduce the size of its balance sheet, in a deal that would allow some Northern Rock customers to receive new mortgages at the end of their fixed-rates. A Forbes article (2008) mentions that customers would be exempt from the standard lenders application fee and Lloyds would pay a commission fee to Northern Rock for every successful mortgage deal (the maximum loan-to-value ratio being 80%). As such, Lloyds took advantage of the Newcastle based banks troubles in a lucrative deal for more or less both parties. The case of Northern Rock revealed a problem with the FSAs handling of liquidity based crises. A new assembly of supervisors to review supervision of high impact firms such as Northern Rock was employed. In addition, staffing and training increased to not allow such incidents to affect public opinion so drastically, because a portion of it was clearly unsatisfied with the FSAs role in the debacle. As suggested by internal auditors, high-impact firms would be reviewed annually and their performance checked every six months. Furthermore, the Financial Services Authority would concentrate a larger part of its time and effort to be prepared to react to future liquidity shocks. On 24 May 2008 Legal amp; General, SRM Global, RAB Capital and the Shareholders Action Group (150,000 of the banks small investors) joined forces in the legal action against the Government after the nationalisation announcement. As written by Sean Farrell for the Independent (2008), shareholders believe that the Bank of England rigged the process for compensating Northern Rocks investors, because a sovereign valuator must accept that the bank was not a going concern. Lamp;G wished to see to that share valuation would be conducted on an impartial basis, without the dogmatic conventions enforced by the Treasury. According to Simon Evans (2008), at the end of July 2008 the valuation of Northern Rock would be delegated to 2 of 10 firms that applied, in spite of threats of legal repercussions. Monaco based hedge fund SRM Global stated that a negligence case of high stature would be opened on anyone that would partake in the role of valuing the poisoned chalice, considering that the hedge fund owned shares in value of 11% at Northern Rock before its nationalisation. Unsurprisingly, few forms expressed their interest in the valuation process, because the Treasury had imposed a number of restrictions for potential valuators. Northern Rock was a just a drop in the ocean of the financial peril that followed. The difficulty for the financial markets and ordinary people was that at that point nobody knew where thunder would strike next and who would be its next victim. Conclusions At present, business at Northern Rock plc is looking quite optimistic. It is known that the restructuring of the bank and the overhaul of the boardroom paved the road for a future re-entry into the commercial banking sector with a new formula for success. Also, a new debt reduction strategy was adopted, with the bank repaying its loans well ahead of maturity, with a little under ? 9 billion remaining to be paid as at 9 March 2009. Based on the above discussion, several key lessons can be learned such as that companies ought to move beyond box ticking by sacrificing performance for conformance. Also, risk management is absolutely essential to undertake in todays constantly changing financial environment where anything can happen at any time. As for the institutions delegated to supervise, we would like to stress a few recommendations: * liquidity assistance arrangements must be timely and inspire confidence * external supervisors such as the FSA must have a solid plan of corrective action * legal framework must exist in order to prevent the collapse of a bank that is enduring troubles with departments or functions of systemic importance