Sharia Banking Tackle Todays Global Financial Crisis Example For Free - Free Essay Example

Sample details Pages: 17 Words: 5021 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Research paper Tags: Banking Essay Did you like this example? Todays global financial crisis has left many wondering where the faults actually lie. Indeed, there are many contributing factors that can be highlighted. However, in a more positive approach, it is argued that Sharia banking covers principle areas that are in almost complete opposition to conventional banking. Don’t waste time! Our writers will create an original "Sharia Banking Tackle Todays Global Financial Crisis Example For Free" essay for you Create order For example, institutions do not pay interest, and they require transactions to be reinforced by real tangible assets. The conventional banking system in place has offered a suitable medium for trade over many years. Countries have prospered with the facilities provided while few have had complaints or criticism of the system. Due to this apparently fluent and dependable system, trade had continued uninhibited until recent times. Prior to the unfolding of the current financial crisis, there was a certain limited amount of speculations regarding whether or not the system would face any hiccups. This was a reasonable conjecture considering the financial crisis that occurred in the 1930s. This was of course limited to the U.S. economy, and was at a time when globalization and international trade had not exist the way it does today. It is interesting to note that there have been alternatives offered to the conventional banking system, which largely consisted of a private banking method, which will be explained later in this paper. As opposed to the private banking method, many scholars began to explore the alternatives, and Islamic or Sharia Banking is one form that was deemed to be interesting enough. Islamic Banking methods seemed to offer a fair amount of safety to users, and it appeared to be a fair and just method for borrowers. Primarily, it is the borrowers rights that need to be safeguarded in this method of banking, as this would be a moral action and it would bring stability to the system. Borrowers would be able to trust the system, and this would only instill confidence in all users of the banking system. Moreover, this system does not agree with intangible assets. There are Quranic quotations and examples that justify this approach, which is actually quite a matter of common sense; probability, chance, etc. are factors that have to be mitigated if reliability is desired. Indeed, this is why every possible measure has been sought in Islamic banking to ensure stability and reliability, which will result in economic prosperity. Aims: To determine: How Sharia banking principles can help to relieve the current economic crisis, and transform the economic system for more reliability. How different Sharia Banking is from Conventional Banking. Advantages Sharia Banking has over Conventional Banking Objectives: To determine: What the fundamental principles of Sharia Banking are. Why Sharia Banking principles are believed to make global financial operations more reliable and concrete in comparison to conventional western banking systems. Whether or Not Sharia Banking concepts can be implemented pervasively in the west. How ripe consumers minds are in terms of being ready to receive Sharia Banking as a new banking concept. Possible obstacles to Sharia Banking What the fundamental principles of Sharia Banking are. Possible obstacles to sharia banking Problem of systems Sharia conservative Western tends to be reckless but which system best. Sharia looks a good model right now but a collapse of the construction industry in the gulf will show weaknesses. Why do now have doubts about commercial banking? Sub- prime US housing market UK banks FACTIVA Look in the Financial Times about Islamic banking Literature Review Why Does the World Need a Banking System? For anything to be related, networked and linked, there needs to be some sort of medium through which operations can be carried out. For example, for the Internet to function effectively with all individuals operating from different locations, cyberspace has to exist. Similarly, for trade to take place effectively there needs to be some sort of facilitation. This facilitation is provided by banks and other financial institutions. However, there needs to be a set of norms and governing rules that allow these institutions to operate smoothly and in a just manner. Indeed, a banking system facilitates business activities. Whether it is limited to a particular region or stretched across the globe, all those who are facilitated by it enjoy the banking system. Indeed, a technologically well supported banking system is vital in this day and age. This is because speed and reliability are both top requirements. Businesses need to act rapidly, especially when transactions are to be made over long distances. As opposed to demand for speed today, yesteryears saw a slower pace of business and there was far less business activity. Therefore, it might be said that while speed and reliability are both required today, the banking system was still a need yesterday. A banking system from the very beginning promised a streamlined approach to business activity. Governing laws brought safety and stability to all those involved in banking facilities. It is unthinkable what man would do for trade in the absence of a banking system. An example that might be cited is Mozambique in East Africa. It was known that people who traveled there on business or for tours had to maintain their foreign currency on them. This is because there no banks to facilitate them. This exposed them to much risk, as thugs are the generally desperate would loot or assail them. However, most parts of the developed and developing world are encompassed by the banking system, which provides them a safe me ans to conduct transactions. What is Private Banking? The term private banking appears to directly suggest that it is a banking system that deals with the private financial affairs of individuals. It also suggests the lack of social responsibility that comes along with it. Private banking means that what an individual does in terms of banking or financial transactions is a private affair as long as it does not violate any laws. Though the idea is fundamentally one in which many individuals can invest their money and receive gains upon it as a whole, the concept of gain at the expense of another still remains. For example, when many individuals invest their money in a private bank, this money is often loaned to individuals or other financial institutions or companies that later have to return it with an additional payment [interest]. Therefore, it can be said that the individuals collectively gain interest by simply accumulating their funds in a private bank at the expense of the borrowers who have to pay interest. Private banking i s known to combine trust services, banking services, investment services, and tax services. Private banking is a term used for encompassing banking, investment and other financial services that are furnished by banks to private individuals who invest in sizable assets. The term private has also been used to refer to the customer service that is given on a personal basis as opposed to mass-market retail banking. This process should not be mixed up with a private bank, as a private bank is itself a non-incorporated banking institution. While private banking was always seen as a very exclusive form of banking that explicitly catered to high net worth individuals who had liquidity exceeding $2 million, it is now possible for an individual to open an investment account with some private banks with as little as $250,000. A private banking division will include a variety of services: inheritance, wealth management, savings, and tax planning. For the affluent a high-level kind of private banking is wealth management (Mullineux Murinde, 2003, 23-25). Basic Tennets of Islamic Banking There are certain principles of Islamic banking that differentiate it from traditional banking. This particularly refers to its functions. Islamic values that are mirrored in Islamic economic principles govern Islamic Finance. These are briefly described below: There is a clear prohibition on Predetermined Payment that Exceeds an Actual Amount Of Principal Is Prohibited: Islam permits only one type of loan, which is called qard-el-hassan. This literally means good loan, and is described as one in which a lender does not levy any extra charge or interest on the principal amount. According to Islamic Financial Principles, a Bank must share The Profits Or Losses that Result From Investment: The interest-based commercial banking system that has immense pressure is on the borrower. In contrast to this, Islamic finance is founded on the idea that the depositor, the bank as well as the borrower must shoulder the risks and the rewards that result from financing business ventures. Generating Money Directly From Money is Not Acceptable: According to Islamic teachings, money stands for purchasing power. It should not be made use for reinforcing purchasing power (money). If it is used for this purpose, there must be an intermediate step in which it should be used for purchasing goods and services (Maurer, 2005, 41-73). Uncertainty, Risk Or Speculation, Which is Also Known as Gharar is Strictly Prohibited: Parties that are included in a contract should possess all required knowledge of the counter values that will be exchanged in the process of transactions. They should also be protected from uncertainty, risk and speculation. No party in a contract is allowed to predetermine a guaranteed profit, which is founded on the tenet of uncertain gains. Uncertain gains does not permit an agreement in which the customer might repay the borrowed principal with an additional amount for inflation protection (Maurer, 2005, 41-73) Investments are Intended to Support Prac tices Or Products Only That Are Not Prohibited or Discouraged By Islam: An Islamic Bank would not finance trade in alcohol. Also, real-estate  finance cannot be furnished for erecting a casino. Additionally, banks cannot lend money to other banks  with an interest levied. The above principles are the complete opposite of what has been practiced in conventional banking. For example, the borrowing against assets that are not tangible, which has proved to be a flawed concept that has led to much of the global economic crisis. Basic Description of Sharia Banking [Islamic Banking] The basic difference between Islamic and traditional banking systems is the system of deposits followed. In an Islamic Banking system, deposits are deemed as shares. These deposits or shares do not promise nominal value (Mullineux Murinde, 2003, 23-25). While it may be said that In Islamic finance, interest is forbidden, there are very good reasons why this is so. Interest is prohibited because of its effect. One needs to understand this effect in order to value the Islamic finance conventional finance. Interest by far benefits one party in a contract more than another. It is known to put one party at a clear advantage over another or others. In a contract where interest is implemented, a party is guaranteed its principal sum returned along with a significant benefit over others. Umar Chapra, the author of Towards a Just Monetary System asserts that from the Quran and the Hadith of Prophet Muhammad, guides Muslims and helps them to understand what is fair and unfair, par ticularly when it comes to their earnings earnings. Chapra says, One of the important sources of unjustified earnings is receiving any monetary advantage in a business transaction without giving a just countervalue. To put it simply, Islamic finance is a fair system in contrast to conventional finance. It is Islamic finance aims at getting rid of unfair or exploitative financial situations, products or services. This does not only apply to loan transaction, but also to other situations that might be unfair or exploitative in the financial world. The result of this straightforward aim is asset-based financial products that suffice as a just countervalue for all parties involved. In An Introduction to Islamic Finance, Taqi Usmani describes asset-backed financing; it is financing that creates real assets. These can then be sold in exchange for money. As a result, it consequently earns a justified profit. This is indeed different from the concept in the conventional systems that g enerate money out of money (interest). In Islamic finance, there must be an asset that creates the profit, and not money alone. The formula that is prohibited in Islamic Finance is as follows: Money + Interest = More Money. As opposed to this, the formula that should be applied is as follows: Money + Asset/Real factor of production = More money. Islamic banking has more to it than traditional banking as its products must adhere to secular laws as well as the holy Quran. This means that it must be suited to all countries in order to makeup a complete system that can be operated globally. One of the main laws of Shariah is riba, the prohibition of interest. Also, Islamic law prohibits the use of funds for investment or purchase that may be related to pratices that it deems impermissible (haram). Alcohol consumption and gambling stand as examples. As a general rule, anything that is not defined as haram can be considered permissible (halal) under Shariah law. It, however, must be asserted that Shariah interpretations can vary according to regions where it is implemented fundamentally due to local Islamic scholars defining what is fit for particular regions. Banks that wish to offer Islamic Banking must enlist local scholars who will serve on the banks Shariah board or committee. These scholars aid the bank in designing and implementing Shariah-compliant bank products and processes. Large conventional banks are known to now also develop specialized functions that aim to educate employees about adherence to Islamic finance principles. The Concept of Musharakah: The bans against interest are founded on the Islamic idea of property that is caused by a persons creative labor or from trade or property. Interest on money loaned is encompassed within neither of these two concepts and is thus not justified (Mullineux Murinde, 2003, 23-25). To resolve this problem from a legal and religious viewpoint, Islamic banking implements common terms: musharakah or co-operation for production; mudharabah or as one might put it, a silent partnership, when one party supplies the capital, the other the labor; and murabbahah or deferred/post payment on purchases, similar in practice to an bill of exchange and the most preferable Islamic banking agreement in Sudan. To decide the ban on interest, an interest-bearing overdraft would be transformed to a murabbahah contract. Similar Operations But Different Methods in Islamic and Traditional Banking: A great deal of Islamic banking literature says that although Islamic banks carry out mostly similar functions to that of traditional banks, their method is clearly different (Ahmad, 2000; Chapra, 2000; Iqbal and Molyneux, 2005; Iqbal and Mirakhor, 2007). To demonstrate some of the most important characteristics of Islamic banking and finance which makes it different and unique from its traditional counterparts encompass: first, Islamic banking aims at a just and fair society as dreamed of Islamic economics (Mirakhor, 2000; Warde, 2000). In accordance with this, the many restrictions (e.g. interest, gambling, undue risks, etc.) are to serve a flat playing grand to defend the interests and advantages of all participants included in market exchanges and to elevate social harmony (Ahmad, 2000; Chapra, 2000). For example, the current tradition of interest in the traditional banking system includes inequality to the borrowers since the interest on their loans must be paid regardless of the results of their business. In the same way, interest-bearing agreements can be unfair to the lenders particularly when their returns on deposits, which have been fed back by the banks to the investors, do not commence with the actual performance of the investment (Lewis and Algaud, 2001; Iqbal and Molyneux, 2005). Second, Islamic banking is setup upon the rule of brotherhood and co-operation, which symbolizes for a system of justice sharing, risk distribution and stake holding. It encourages such sharing and co-operation between the giver of funds (investor) and the user of funds (entrepreneur) (Iqbal and Molyneux, 2005). Third, as a system founded on ethics and morals of the Islamic law of Shariah, Islamic banking is also embodied by ethical norms and mores and social obligations (Ahmad, 2000; Mirakhor, 2000; Warde, 2000). There is a moral monitoring mechanism based on the descriptions of Halal (permissible) and Haram (prohibited and undesirable) functioning at various le vels, holding the conscience of entrepreneur and firm, favouring a positive social climate for society, and giving a convenient and practical legal framework (Chapra, 1992). In accordance with this, Islamic banks can hardly financially support any project which contradicts the moral value system of Islam. For example, financing a brewery factory, a night club, a casino or other similar kinds of activities are banned by Islam or known to be harmful to society (Ahmad, 2000). How Competitive is Islamic Banking Especially in present Era? Within the Middle East regional participants in the Islamic banking industry have rendered inspiring financial outcomes. These banks have acted well by securing attractive financial returns regardless of their capital size. In order to make sure Islamic banks remain competitive in the face of their conventional counterparts, they need to elevate their functional capabilities in order to fulfill prospective demand for Islamic banking products and services. This requires them to redraw their current business models, turn their attention to consolidation and strategic alliances. They also need to systemize their functions by outsourcing non-core operations in order to affirm sustainable growth. The Islamic finance industry is rapidly attaining popularity in constantly evolving environment. On one hand IFSI has performed exuberantly and on the other hand it also encounters various challenges, most of which are unique to the industry (Saeed, 1999, 24-45). High Liquidity Without a well-established Sharia compliant taking the place of conventional interbank money markets has posed a significant impediment to the growth of the IFSI [Institutions offering Islamic Financial Services]. It is one of the main reasons for IFSIs foregoing superfluous funds that are alternatively being channeled into conventional banking systems. Islamic investment prospects has been short-term and low risk opportunities with the lack of variety, tradable financial instruments has restricted investment opportunities. Human Resources In the initial phases of its development, the Islamic finance industry has had shortage of experienced professionals that has impeded its initiatives geared towards offering its valuable customers developed, innovative and excellent products (Saeed, 1999, 24-45). Global Sharia Compliance At many occasions IFSIs has been soaked in issues like differing responses with respect to the Fatwas given by various Sharia Supervisory boards. These responses emerge from differences in Sharia opinions emerging from varied interpretation of Fiqh (Islamic jurisprudence). This emphasizes the need of developing harmony of Sharia opinions thus paving way for advancement in product development and resultantly formation of a consistent industry. Risk Management IFSIs face risks such as Sharia compliance, further legal and asset risk, fiduciary risk and displaced commercial threat. These risks elevate the need of development and establishment of more comprehensive and effective risk management framework to timely monitor and reduce them. This should not only encompass the risk management dilemmas prevailing in the IFSIs but also allowing IFSIs to affirm better rating in the global marketplace to lead them to participate with conventional counterparts. Islamic banking and finance makes up the Islamic economic system and its very basis revolves around fairness and morality. Moral aspect, thus, is raison detre of Islamic banking and finance. Sincere efforts are needed in this circumstance on the model of Sudan and Bahrain. This is with regard to Musharaka, Ijarah and Salam Sukuk, and Malaysia in view of Mudarabah based Islamic money market). Documentation of the economy, substitute income tax of the corporate sector with spending tax an d reform in other pertinent laws are important requirements. A well thought out plan with steadfast and sustained efforts could lead to achievement and finally to overhauling of the economy (Lewis Algaoud, 2001, 77-109). Advantages of Islamic banking and finance Along with the evolution of Islamic banking and financial institutions main changes that came about in the financial surrounding during the past few decades of the twentieth century. These include lessening in the intermediation activities and taking part in a dynamic and forceful management of investment and an incorporation of financial markets in the face of globalization. Retract of the Glass-Steagall Act in the US Islamic finance facts gained on the foundations that financial intermediation had been established on interest. The deeper participation of banks and other financial organizations in investment administration put greater emphasis and pressure on comprehending the greater range of Islamic financial methods such as sharing profits as well as mark-up financing and the associated advantages in long term for the institution as well as the customer. However, the need of time has transformed from what was there in twentieth century of developing methods of financial i ntermediation interest-free to the development of Islamic Techniques of risk management and make sure that they are free from troubles associated with traditional methods of financing (Lewis Algaoud, 2001, 77-109). Risk management in an Islamic Setup Even though risk is at the center of all the activity in each and every viewpoint of the activities, particularly in business but industrialization brought risks previously unprecedented in trade and agriculture. With better periods of time and more developed period of production, the uncertainty increases. The range of the market has widened and is heading for forming a global village through which introducing new types of risk. When Islamic laws were penned many years ago years ago, the type and range of risk and unpredictability were different. However, gaining knowledge with a mixture of modern experiences allows one to remember the Shari`a objectives of justice, fairness and effectiveness. The Prophet (P.B.U.H.) banned sale of calves that were not born. This was because there was no guarantee about the future, and there was no way of determining the results. He also banned sale of fish that was in a pond. The reason for this was the same as the one before; one cannot predic t the future; one cannot be certain of the quality and quantity of the produce being sold. The Prophet disallowed the sale of a product that has not been fully cultivated but on the other hand permitted undertaking Salam including advance money paid against agricultural crops at the time when the agreement was made, months ahead of the real harvest. It must be said that this is advantageous to the farmer as well as to the grain-trader. It also has a permissible level of indecision included in the defined transaction. Therefore, comprehensive information must be collected at the time of any agreement in order to obviate any mix-up between parties in time to come and loss of any on these grounds. But to protect benefits, in some of the cases, given joint consent some doubt is acceptable (Lewis Algaoud, 2001, 77-109). Globalized Financial Markets The worlds financial markets with greater incorporation have initiated movements of money through national boundaries with less cost and instantaneously. This change is suitable to Islam in which there are no ideas of belief of national boundaries. In practical implementation, however, this partially took place and created obstacles for Islamic financial movement for two main reasons. The first reason is progress made in Middle East, South Asia and South East Asia who have stunted economies and where financial systems are less complicated in contrast with the developed countries. Secondly, Islamic financial institutions suffer from their small size and very few of them function in more than one country as the main players do. The situation has changed with few major conventional financial institutions taking on and introducing there Islamic Divisions/subsidiaries. But this has also made things more tedious for the older Islamic financial institutions as the same have to undergo mer gers and acquisitions in order to withstand in this era of competition and speed (Lewis Algaoud, 2001, 77-109). Globalization has elevated the instability of almost every financial variable especially the exchange rates. It has also reduced the effectiveness of economic macro-management of the countries that venture their institutions in the direction of transformation of their existing structures into one based on mainly Islamic principles. The only method of correcting this is undertaking international agreements aimed at curbing speculation and controlling financial markets. The approach of Islamic financial motion, henceforth, deals and underscores profit-loss sharing modes of finances, commodity-linked financing such as murabaha and mitigating the role of debt in order to reduce the associated risks in todays world (Lewis Algaoud, 2001, 77-109). Hindrances Towards Development/Management Of Islamic Banking Efforts are underway to develop standards in Islamic financial products. There is pervasive acceptance for standardizing basic elements of Islamic finance including Mudaraba [limited partnerships]. Additionally, Murabaha and Ijara are also accepted. It should be known that Murabaha is a known markup price which is made known to the buyer, and Ijara is a sharia-compliant type of mortgage that has no down payment, which is similar to rent to own. There are steps taken in order to co-ordinate the activities carried out by various Shari`a advisory boards of Islamic financial institutions. These actions are primarily being taken in order to mitigate misunderstandings and rein in un-coordinated activities. Major obstruction towards growth of IFSI is insufficient information that creates a negative outcome on the activities taken up towards its development on solid footings. There is a lack of institutions that can carry out a rating procedure. This especially refers to the ones tha t should be established to carryout rating of products and institutions on the foundations of Shari`a compliance. Regardless of the odds, few that have been mentioned above, the industry carries on to grow but at a snail-paced mainly in the Gulf countries. It has also reached the Balkans and recently independent Central Asian Islamic Republics. Shaky economic situations in these countries, are certainly causing problems in the Islamic financial institutions, and this creates hindrances for them (Lewis Algaoud, 2001, 77-109). Islamic Banking Drives Competition Islamic banks had large degree of monopoly over the financial resources of Islamically motivated clients. The conditions have been transformed with Islamic banks now facing ever increasing competition. A vital development in Islamic banking in the last few years has been the beginning of some traditional banks in that market. A precise figure of conventional banks around the world that have implemented Islamic banking techniques is hard to determine. However, some of the main players in international banking business include names like Citibank, ANZ Grindlays, Klienwort Benson, Chase Manhattan, etc. Also, there are several commercial banks in a variety of Muslim countries that offer Islamic banking services. Bank Misr in Egypt and National Commercial Bank in Saudi Arabia have both inaugurated Islamic Branches. Malaysia too allows its conventional banks to initiate Islamic Banking procedures so that they can advance into Islamic Financial Industry (Venardos, 2006, Pp 32-55). In g eneral, rivalry is always taken to be an affirmative phenomena stimulating expansion of any industry. It compels inefficient firms to either transform themselves in accordance with respective industry norms or move out of the way. It mitigates the costs and ameliorates services to consumers while boosting innovation and bringing in enhancements in product quality. However, IFSI that is in its early stages need to be protected from harsh, stiff and aggressive competition from conventional till the time they are capable of standing on their feet and be able to confront competition from their business counterparts. Conventional banks have enormous benefits in contrast to Islamic banks in terms of their experience and long survival in the market. Their systems, methods, techniques of product innovations, strategic marketing and their diversification in repertoire are far superior to the corresponding functions of Islamic banks. As a result, opens up Islamic banks to an unequal rivalr y and competition. Looking at the other end, such competition may be suitable for Islamic banking as conventional banks can rein in their efficiency, research data and main capabilities, complex banking and result-oriented strategies to Islamic banking. This may all result in the development of new products and facilitations of better services to customers (Venardos, 2006, Pp 32-55). Methodology Data Sources: For this research, there are a wide variety of sources considered. All these together will aid one to complete the task at hand. In this research, there is a mixed approach consisting of primary and secondary sources. The researcher has to carefully consider the kinds of sources obtainable to him in order to make a precise selection. In order to deal with the precise question [How Can Sharia Banking Be Used to Tackle Todays Global Financial Crisis?] one has to investigate the procedures at Islamic financial organizatiuons. From these institutions, the researcher will understand more about the dynamics of Islamic Banking, and then be able to come up with a strategy that could deal todays financial crisis. The research will start by searching for secondary sources. This is normally what is done so that one can get an idea of what types of data can be obtained on a particular subject. Secondary data for this researcher paper will come from a variety of records held by a varie ty of organizations. Since there has been a wide range of data made accessible in the shape of journals, reports and books, they will be carefully considered. Following the compilation of secondary data, primary data will need to be obtained too. Primary data to be collected will be attained through questionnaires. Through this method, the researcher can attain a wide range of data. It is worth mentioning that this data will be obtained at random from employees and supervisors of departments [respondents] regardless of their gender, age, etc. An appropriate methodology that includes the role quantitative and qualitative approaches is seen as the most suitable way to research this project. By implementing a questionnaire, the researcher aims at retaining significant primary data that will be analyzed alongside the secondary data accumulated. While secondary data will be gathered from sources like books and journals Islamic Banking, primary data will be obtained from organ izations staff at a variety of Islamic Banks. Qualitative Research When implementing a qualitative research technique, one is in a position to can establish a highly organized and free flowing method of data from a participants mind. To employ this research form, a researcher must take full advantage of a questionnaire. Implementing questionnaires permits a certain degree of flexibility for a research technique. In this research paper, an interpretive approach will be implemented, which will comprise analyzing data; content analysis and statistical analysis.

Dbq 2003 Form B Apush Essay - 658 Words

The Progressive Era was a thirty year period in which the United States was completely reformed. Actions were taken to improve working conditions for laborers, create a sexually unbiased work system and regulate the economy. President Theodore Roosevelt and Woodrow Wilson both helped create a more direct democracy in which the people would have a voice. During those thirty years, amendments 16 to 19 were ratified to regulate and reform the country. Muckrakers were writers who worked for the printing companies exposed the public to all of the corruption that was occurring both openly and behind closed doors. By exposing the public to the corruption, American society was enlightened and inspired to reform itself. During this era, President†¦show more content†¦Woodrow Wilson wanted to create a democracy, but he did not allow women to vote. What kind of a democracy did Wilson want if he did not allow how the population to vote? There were many women’s reform groups that wanted sexual equality so that women would have equal say which promoted women to take charge leading to the passing of the 19th amendment allowing women to vote and opening a whole new world for a woman’s voice. Blacks fought for the ideals of America in World War I but they did not receive any recognition for their hard work. Instead, they were still put under the â€Å"Jim Crow† laws which prohibited them from voting and segregated them from their superior races. This explains the decrease in percentage of eligible voters who vote from 1900 to 1920. The Clayton Anti-Trust Act targeted business monopolies that could easily control the whole economy. Wilson being the arrogant president that he was, created a few minor laws that would not greatly improve the economy. It would be the next successor of the president that would be left with all these problems. President Theodore Roosevelt believed highly in a direct democracy, he favored the idea of people deciding what they want with government. Later on, the 17th amendment is ratified allowing the direct election of the senate. Overall, the Progressive Era was full of reform in the economy, politics and society.Show MoreRelatedBoyer Dbq Teacher Guide10764 Words   |  44 PagesUsing the DBQ Practice Questions from The Enduring Vision, Sixth Edition A Teachers’ Guide Ray Soderholm Minnetonka High School Minnetonka, Minnesota Using the DBQ Practice Questions from The Enduring Vision, 6th Edition A Teachers’ Guide This guide is intended to suggest some possible ways that students may organize essays related to the document-based questions in the Advanced Placement version of The Enduring Vision, 6th Edition, and to provide teachers with some information on each included

Exiles Essay Example For Students

Exiles Essay Exiles ResponseIn the essay Exiles, Carolyn Steedman uses different voices throughout the story. Steedman uses her mom, dad, and grandmas voice to speak her essay to the reader. She does this by either using someone elses memories of the instant by referring to what their mom did, told by the father or grandmother. She also uses memories or voices that her mom or dad said. An example of this would be the telling of Steedman moms story, which was told by her father at the time in bits and pieces throughout the fifties(647). Her father says about Steedmans mother, Your mother drank gin once, contradicting what Steedman heard when she was young from her mom that she didnt go out dancing or drinking. Showing that this secret was revealed years later, with nostalgic regret by her father(647). Knowing that her mom, at the time, she remembers, was a good mother and later in life to be lied to and deceived for her own good. The author uses voices in the essay while remembering what her mom a nd dad were saying to her about memories of each other. So in other words, the author remembers what her parents said to her about each other and includes their voices in the essay. She also includes what she remembers exactly from her parents. If it wasnt for you two, my mother told us, I could be off somewhere else (653). The quote obviously shows that this is what she remembers her mom saying. The author puts voices in the essay by using memories of her past. Steedman uses voices in her essay so that the reader can get a background and see perceptions or feelings. She was a good weaver; six looms under her by the time she was sixteen(647). This paragraph of a story was told about her great-grandmother and as an eleven-year-old and how she was exploited. The author uses this as a voice because it tells how her mother also used her hands at her jobs. The author also shows where she received her traits in house cleaning from her mom. The author feels that I sometimes find myself thi nking that if worst comes to the worst, I can always earn a living with my hands(655). If you want something, you have to go out and work for it. Nobody gives you anything; nothing comes free in this world(652). This powerful statement was told exactly by what the author hears from her mom. The author uses her memories of what her mom said to show that she still uses her moms advice in the present time. She also uses this passage as a way to get a feel for how her mom was in the past and that she was a hard-working woman. The story that her mom told was,that she flung a sixpenny piece back at a titled woman whod given it her as a tip: If you cant afford any more than that Madam, I suggest you keep it. Wonderful! Like tearing up the ration books (652). This showed that the author was astounded by the way her mom was hard working. These passages also conceive that the author has lived her life with her mothers hard-working attitude. She has grown from the past of her mothers. What also can be seen is the emotion of her mother and her perception of hard work. Theres that woman on the phone again; Why tell me? Who else is there to tell? (666) The author could use this passage in a way to tell why the voices are being used in the essay. Why tell? Who else to tell other than the reader. The reader will listen and understand where someone is coming from through voices. Using past history and perceptions makes a good sense of where someone comes from and overall gives a feel of where someone came from or has gone through. This makes the essay seem more familiar. I remember as it were but yesterday, . . . (652).

The Third Man (1949) Essay Example

The Third Man (1949) Paper In this film extract analysis I will be looking at Carol Reeds The Third Man. I will be looking at certain points and aspects of studding this opening extract and I have split this essay up into sections discussing different aspects of the extract and I will compare and contrast throughout. The first thing that strikes me about this film is the opening narration by a happy friendly voice immediately letting the audience feel at ease and comfortable before settling into watching the film, the narrator starts by talking about how he never knew Vienna before the war and that he only got to know it during the period where the classic black market was apparent. By the narrator talking about this before going on to tell us the story he has already made a link with the audience. Then the narrator goes on to describe the situation and why Holly Martins (Joseph Cotton) is arriving in Vienna. That is all the narrator does in the extract but it is a very important part in creating meaning in the film because in the first couple of minutes he has made a connection with the audience making them feel at ease and has explained a part of the situation that we have not seen (Martins leaving and coming to Vienna). We will write a custom essay sample on The Third Man (1949) specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Third Man (1949) specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Third Man (1949) specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The narrator can tell the story from his point of view or from the view of another character, in this film he is talking from his point of view almost like an audience member. This narration reminds me of the narration in The Big Lebowski (1998) where the narrator has an outside view and talks about the situation at hand. The film has a Classic Narrative Structure because it follows a set of rules, it confines to the three act structure I have included a picture which shows a brief example of the three act structure. The film develops over a 3 act structure by firstly setting up an Inciting Incident (Limes fake death) then the film moves on to plot point one, (Martins meeting Limes wife) following that it moves onto act two and reaches the midpoint. Plot point two (where Martins sees Lime alive) then moves onto act three where the climax of the film is reached (where Lime is killed for real) the film has then passed though all the three act structure. 2Mise en scà ¯Ã‚ ¿Ã‚ ½ne are widely used throughout the film but I will just talk about it during the extract that we are analyzing, the extract starts with lots of shots of the city Vienna and the different zones created by the war so the shots of the city are already creating meaning toward the situation that the city is in. Then regarding set design Martins goes looking for lime and finding out that he is dead Martins is in a very old fashioned house where you can see a person changing the candle lights and you can tell that the house is very elaborate conveying to the audience that the house and whoever owns the house is relatively well off. 3The use of rear projection in films is a way to film in an exotic location and keep stars from traveling and its more economical. In this film there is a scene where there is a rear projector in use, this sometimes is used to create meaning in films and in others it is just used to save money and in this film the use of real action shots isnt really required. It doesnt really create meaning but is used to supplement the films use of mise en scene. Martins then goes to the funeral following the bar scene, in the bar scene I noticed that the camera angles have been tilted maybe trying to create a meaning of the state of the mind of both Martins and Calloway being inebriated. Also I think that the locations are used to dramatic effect in the way all the locations seem to be very dressed up and none of the sets look very lived in and the feeling that they give to me is of a nice set that was created and not an actual place that was used. The interiors in the extract for example the bar is quite grand like the house the design of the walls and interior features also convey to the audience the part of town they are in is a rich part of town. When the camera angle changes and tilts the audience can see behind Holly that the bar is very nice and stylish. Also in this bar you can see the sort of punters that it attracts when Holly starts to kick off and the officer grabs him, portraying to the audience that even the nicest bars usual punters are affected by the war. The war effort is apparent and you can tell that the war is massively affecting the story because when Martins and Calloway go for their drink together and they fall out because of the comments Calloway make about Lime the officer steps in almost right away. Plus the officer is kind of a contradictory character because as soon as he finds out that Martins is a famous author his attitude towards him change right away. 4One of this films main characteristic is that it is film noir. It is typical of films from the forties and fifties to have film noir as one of its main features of those films and The Third Man is no exception with its low key lighting and shadows. In the extract the use of film noir is apparent when we get to the scene when Martins goes to find Lime and he is at the bottom of the stairs talking to the German man his shadow is massive and it makes it apparent that Martins is below and the light is coming from above where the German man is changing the lighting. Here is another example from the film where the lighting and camera angle is shot from above, in this particular moment it is trying to make the officer look bigger and more of an authoritative figure. This is a screen shot that I have taken from the bar scene where I noticed the use of the Venetian blind effect that is so typical of the film noir period. This in particular creates meaning in that you can tell the time of day it is and maybe the way that the effect is used would lead the viewer to think that something dark or mysterious would happen. Lighting in the extract that we are studding is used to dramatic effect in certain scenes with the use of shadows to create meaning to the audience. Some noticeable parts where lighting is used very well are in the very beginning in the bar scene where they are sat drinking and the use of three point lighting is apparent because the back is light and both of the characters are light with key lighting. The use of this three point lighting makes a contrast between the subject that is being filmed and the background giving it a more three dimensional effect. Now talking about sound in the extract, I am going to start by talking about the non diegetic sound that is used. This in its first instance would be the sound of the opening music of the guitar. This music is played for quite a while into the beginning and even after the narrator has stopped talking you can still hear the music in the background, I think that this music is played as a complement to the narrator because it is relaxed and it makes the beginning introduction easier to listen to. The use of diegetic sound in this film much like in the film Written on the Wind (1956) is used to create suspense in the situation like in Written on the Wind you can hear the door slam open and the wind blowing in, in the scene where Kyle Hadley comes back. The use of this sound creates a sense of drama and suspense. In our extract you have the beginning where Martins gets off the train and you hear the train steam let go and gets ready to enter the city. Creating lots of meanings for example the use of steam could be interpreted as him letting go of his past and starting a fresh. I have noticed that the use of smoke in this extract may convey different meanings as a part of mise en scene Calloway smokes in the bar creating massive clouds of smoke creating shadows complementing the film noir theme. In conclusion I have noticed that this extract is a piece of cinema that uses film noir to create lots of meanings to the audience and does so well. All the uses of mise en scene and cinematography complement this story and have created a very easy well made film to watch for all of its audiences.

Effects of Mobile Culture in Relational Maintenance and Behavioral Patterns

Mobile phone is critical in human communication due to its affordability, reliability, and connectivity. As the world steadily becomes a global village, communication experts have embraced mobile phone communication in providing communication solutions and enhancing interaction between socializing agents.Advertising We will write a custom essay sample on Effects of Mobile Culture in Relational Maintenance and Behavioral Patterns specifically for you for only $16.05 $11/page Learn More The prime principle is featured by interconnected holistic phenomenon. The conscientious citizenship need to perceive the global interrelationship with inclusive model of integration through phone culture. Therefore, the problem statement is which factors directly affect the mobile culture in relational maintenance and behavioral patterns in human communication environment? This reflective treatise attempts to explicitly applaud on the modes and behavioral patterns observe d across the gender divide and how the same can be related to mobile culture among socializing agents. These agents are drawn from different cultural divides, gender, age, and exposure. In order to comprehensively understand and interpreter the research question, the treatise reviews two previous literature on the topic by examining the article â€Å"IMing, Text Messaging, and Adolescent Social Networks† by Bryant, Sanders-Jackson, and Smallwood and the book, â€Å"Doing Cultural Studies† by Gay et al. Effects of Mobile Culture in Relational Maintenance and Behavioral Patterns The global mobile culture integration and its changing patterns has led to immense transformation of the world into a global village comprising of the current interdependent and networked of â€Å"global order†1. Though the world is marked by differences and identities that show how various endeavors of people, groups and communities affirmed their identities, the manifold layers of mobile culture concerning religion, gender, nationalism, class, ethnicity, and personal interests continues to define this century old means of encoding and decoding information. Literature Review The world is manifested with emergence of mass society in terms of social interaction, that is, mass culture, mass welfare, mass consumerism, mass communication, and numerical sense of unique population increase. Mobile culture is a shared means of interaction involving people who understand the various symbols of communication through use of mobile phones.Advertising Looking for essay on communications media? Let's see if we can help you! Get your first paper with 15% OFF Learn More In order to understand the current research on this multi faceted topic, experimental study design is the best method to adopt since it inquires to establish whether an intervention had the proposed reasoned-impact on planned participants or not2. The aim of a culture is to build social work strategy and practical matters, provide rapid support to social problems, sustain social programs to offer relevant resolutions to social crises in communities, hold up growth through promotion of education to tackle crucial life matters, and advance suitable relevance of new technology for performance of social work. Mobile phone communication industry is one of the fastest developing service industries in the entire world. Technological growth has enabled customers multiple access of information and entertainment services, and therefore has enhanced establishment of an intrinsic mobile culture. The article, â€Å"IMing, Text Messaging, and Adolescent Social Networks† by Bryant, Sanders-Jackson, and Smallwood dwell much on determinants of behavioral patterns in human communication. Through embracing maintenance strategy topology, the study identifies the aspects of self disclosure, positivity, and social networking as the assuring factors that promoted effectiveness of mobile cultura l modes used across the generational divide3. However, they fail to quantify the aspects of period of influence. Mobile Culture and Global Behavioral Patterns The global world is built with many diverse flows, that is, organizational interaction flow, capital flow, symbols, image and sound flow, technological flow and information flow. With an increasing global community, such flows are portrayed as extraordinary development in velocity, volume, and direction4. For instance, media flow has become diverse global audience that is a unique way of expressing information. Emergence of mobile phones offered an immediate solution for the need to maintain this velocity, volume, and direction. The global media is a multifaceted topography of multi-media, multi-vocal and multi directional flows.Advertising We will write a custom essay sample on Effects of Mobile Culture in Relational Maintenance and Behavioral Patterns specifically for you for only $16.05 $11/page Learn More The propagation of satellites created by digital technology and the rising online communication have caused media firms to function in an enhanced transnational arena other than national dome; hence seeking and generating new customers globally. Establishment of mobile phones communication was a solution to this. However, the focus rarely matters in relation of media markets because producers perceive audience as primarily global consumers rather than local citizens. This change of nation-centric perception into international markets led to establishment of symbolic interaction among citizens who owned mobile phones. Mobile culture has generated professional occupations in the cultural and information industries5. The outsourcing of information for International Corporations has contributed to the momentum for establishment of significant global focus for creative industries. The operators of global media channels possess strong local presence through focus to get audie nce beyond their original local constituency. As a result, this is a subaltern flow of domestic ideas across the entire world has created an evolving geo-cultural and international networks facilitating the contra-flows of shared, internalized, and unique means of phone communication. Phone culture is important aspect in conserving cultural democracy; therefore the main aim of a nation is to provide broad alternative services to customers through enhanced privatization and liberalization. The international communication interaction has created diverse disjuncture that is beyond homogenized culture; it has also contributed to cultural ‘hybridity’ that is generated through the use of heterogonous media products to benefit domestic principles, languages and styles. For instance, mobile culture has exercised indirect domination over developing nations; politics and public perception of these nations. However, it has destabilized cultural sovereignty in many nations such as Syria, Egypt, and Libya which have become states of anarchy. Before penetration of the mobile culture into the society, regionalization trend was perceptible in the development of domestic editions of magazines and newspapers, broadcast of television programs in domestic languages, and also in establishing local programming and domestic language websites6.Advertising Looking for essay on communications media? Let's see if we can help you! Get your first paper with 15% OFF Learn More In the last 20 years, mobile culture seems to have taken control of formal and informal communication. As a result, interaction with global cultures have provided diverse impacts since people need to filter and evaluate content products from heterogonous cultures to incorporate them with ideas that originate from domestic cultures when communicating7. Mobile Culture Integration and Its Changing Patterns Due to global interrelatedness, mobile phones opened the world and provided important features of globalization. However, global integration happened gradually for many centuries. Human evolving pattern involved various regional systems which promoted interaction. Reflectively, within the last century, mobile communication has replaced the traditional means of encoding and decoding messages. As a result, the whole process has become reliable and convenient. Apparently, mobile phone technology can be classified as the best miracle of the 21st century. By a click of a button, a Chinese student in Miami can communicate with parents back in Beijing. The diversity of media information only exists in the wider fresh liberal ideological agenda. Apparently, ideology of regionalization develops globalised perception which focuses on liberal democracy and market primacy. The mobile culture has emphasized on propagation of multilingual contents stemming from local creative hub. Adoption of deregulated, privatized and digital technology transmission network has contributed to enhanced flow of global media. Human population who lived in the twentieth century caused increase in mass community that was contributed by people’s interaction and movements for economic sustainability. All these implications were closely integrated that led to the rise of mass community. This immense transformation was an essential focus in the current society. Politics, youth culture, media, leisure and welfare are five distinctive features that are manifested in the modern phone culture so ciety8. Actually, mass society weakened traditional societal values; industrial revolution weakened aristocratic and traditional values. Mass phone culture is a society that has social, large scale and impersonal institutions. Identity and Difference Gradually human communities have become varied with great differences in beliefs, artifacts and languages of communication within the phone culture. Human cultures were comprehended based on symbols of various devices that people created. Such cultural icons lack boundaries and are marked with continues influx that compete and interact in each other9. For instance, messaging culture has created a ‘quarty’ culture among the youths across the globe. Special codes such as ‘LOL’ and ‘OMG’ have been internalized in the messaging culture and have universal meaning from America to Europe. In fact, messaging culture has transformed people who lived in remote areas; human interaction transforms people who a re perceived as barbarians and uncivilized10. There are many theories that justify possible pull factors of phone culture. Basically, these theories share sentiment on the fact that messaging culture has developed over a long period of interaction among people who share same thought patterns. Time is therefore an independent variable which fluctuates according to the period of interaction and share values of communicating people11. Messaging culture is actually influenced by dependent and independent variables in human activities. Findings The themes of mobile culture have brought ultimate query to prime of all historical world, particularly to the current globalization of mobile culture. Human interaction and sense of shared values has elevated visions of human society. Technological development particularly digitalization has discouraged governments from limiting imports of foreign media contents into local markets. Due to rising global interaction, the need of internationalizatio n, and easy communication accessibility, many nations are changing their regulatory policies, and therefore promoting their markets for global interaction which is responsible for the established mobile culture. The variety of cultural attributes embodied in messaging makes them a powerful medium through which to transmit cultural values and morals. Arguably, the world is experiencing a strong trend toward cultural globalization, and no one nation is immune from the influences of the cultures of other nations because mobile culture, in many respects, defies national boundaries. However, different cultures must be preserved and allowed to flourish, for it is a diversified global culture that benefits the world’s collective well being. Cultural diversification allows people to observe different views and attitudes, test their own biases, and learn from different experiences. Unrestricted homogenization of cultures should be avoided, and diversification of culture should be cham pioned. Mobile culture that promotes National culture and local cultures should thus be protected by discriminating explicit and immoral communication. Conclusion From the literature review as indicated by the articles, the main factors that are associated with changed behavior due to mobile culture of communication are the aspects of social activeness, age, gender, purpose and relationship between the subjects communicating. Notably, it is apparent that cordial relationships would prefer assurance in use of mobile phones modes than casual acquaintances. Among the younger generation, that is adolescent and teenagers, use of mobile phones is highly influenced by confidence and social activeness. Therefore, in studying mobile culture, it is critical to factor in behavioral patterns noted in the above studies to create practical and reliable communication designs for reaching different gender, age, culture, and exposure. Bibliography Appadurai, Arjun. â€Å"Disjuncture and Difference in the Global Cultural Economy.†Ã‚  Public Culture 7, no. 2 (1990): 1-24. Bly, Van der. â€Å"Globalization and the Rise of One Heterogeneous World Culture: A Micro Perspective of a Global Village.† International Journal of Comparative Sociology, no. 48 (2007): 469. Gay, P., Hall, S., Janes, L., Mackay, H., and Negus Keith. Doing Cultural Studies: The Story of the Sony Walkman. London: Sage, 1997 Gerard, Goggin. Introduction: what do you mean‘cell phone culture’? in Cell Phone Culture. London and New York: Routledge, 2006 Jackson, A., Bryant, A., Smallwood, Anthony. â€Å"IMing, Text Messaging, and Adolescent Social Networks,† Journal of Computer-Mediated Communication, no. 11(2006): 577–592. Mcchesney, Robert. New Global Media: The Global Transformations Reader: An Introduction to the Globalization Debate. Edited by Held Day. Cambridge: Polity, 2004. Sweetman, Paul, and Knowles Caroline. Picturing the Social Landscape: Visual  Methods in t he Sociological Imagination. New York: Routledge, 2004. Footnotes 1 Appadurai, Arjun. â€Å"Disjuncture and Difference in the Global Cultural Economy.† Public Culture 7, no. 2 (1990): 1-24. 2 Bly, Van der. â€Å"Globalization and the Rise of One Heterogeneous World Culture: A Micro Perspective of a Global Village.† International Journal of Comparative Sociology, no. 48 (2007): 469. 3 Jackson, A., Bryant, A., Smallwood, Anthony. â€Å"IMing, Text Messaging, and Adolescent Social Networks,† Journal of Computer-Mediated Communication, no. 11(2006): 577–592. 4 Gay, P., Hall, S., Janes, L., Mackay, H., and Negus Keith. Doing Cultural Studies: The Story of the Sony Walkman. London: Sage, 1997 5 Gay, P., Hall, S., Janes, L., Mackay, H., and Negus Keith. Doing Cultural Studies: The Story of the Sony Walkman. London: Sage, 1997 6 Gay, P., Hall, S., Janes, L., Mackay, H., and Negus Keith. Doing Cultural Studies: The Story of the Sony Walkman. London: Sage, 1997 7 Gerard, Goggin. Introduction: what do you mean‘cell phone culture’? in Cell Phone Culture. London and New York: Routledge, 2006 8 Gerard, Goggin. Introduction: what do you mean‘cell phone culture’? in Cell Phone Culture. London and New York: Routledge, 2006 9 Mcchesney, Robert. New Global Media: The Global Transformations Reader: An Introduction to the Globalization Debate. Edited by Held Day. Cambridge: Polity, 2004. 10 Sweetman, Paul, and Knowles Caroline. Picturing the Social Landscape: Visual Methods in the Sociological Imagination. New York: Routledge, 2004. 11 Gerard, Goggin. Introduction: what do you mean‘cell phone culture’? in Cell Phone Culture. London and New York: Routledge, 2006 This essay on Effects of Mobile Culture in Relational Maintenance and Behavioral Patterns was written and submitted by user Taryn Singleton to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Critical Investagtion of the importance of Computer security (SME) within Business The WritePass Journal

Critical Investagtion of the importance of Computer security (SME) within Business Critical Investagtion of the importance of Computer security (SME) within Business INTRODUCTIONREFERENCESRelated ABSTRACT The development of computer system has revolutionised business firms in the world. Business firms virtually rely on computer systems in storing information which is a very vital resource in any business because it is the success of the business. However, the safety of the computer systems needs to be ensured considering the importance and relevance of the information stored in it. One of the most important barricades in the success of the use of computers in business firms, most especially in Small and Medium-Sized Enterprises (SME) is the negligence to computer security. Over the years, it has been discovered that small and medium-sized enterprises (SME) are more prone to potential intruders than the larger enterprise due to common and vast knowledge of popular operating systems and application software’s (e.g. MySQL Database and Microsoft respectively). The internet has created opportunities in the implementation of innovative business applications such as electronic commerce, electronic data interchange and inter-organisational systems (Sousa, KJ et al. 2005), which has kept both business firms and customers vulnerable to threats. We will critically outline the various computer threats in our introduction chapter. Computer security threats keeps multiplying and is still expected to multiply [4]. Taking all of those into consideration, the importance of computer security in business (SME) cannot be over emphasized. Accordingly, the general purpose of this academic write-up is to outline the importance of computer security in business; basically in Small and Medium-Sized Enterprise (SME). First and foremost, we would critically define computer security, the various kinds of computer threats and their respective security measures. Also, we would explain what SME is all about, some examples of SME and the use of computer in SME. At last, we would critically outline the importance of computer security in business (SME). INTRODUCTION The basis of computer security comprises of the reply to the question â€Å"What is computer security†. The word â€Å"Security† means to protect or could mean to freedom or prevention from danger, risk or damage. Therefore, computer security which is also referred to as Information Security can be defined as the protection of data and information in a system from or against authorized users or recipients. In other words, computer security is the ability of the computer system to guard data and information against intruders, unauthorized users or malicious users with confidentiality and integrity. Furthermore, computer security is broken down into an acronym CIA which describes the basic goals of computer security and its aim is to protect the data and the system processing the data. The acronym means Confidentiality, Integrity and Availability. Confidentiality ensures that data and information is kept away from intruders, unauthorized users or malicious users but yet still made available to those users who are authorized to access the data and information. This is also applied to the system processing the data, the network and other devices that are in the network and the computer system itself. Most times, these data are classified into three (3) levels. Some data are classified as public which means that anyone can access the data; some data are classified as company property which means that only users within the company can access the data and while some data is classified at the government level such as top-secret data which is only accessible by users within the government. To ensure the confidentiality of data and information, some security measures are implemented known as â€Å"Controls† such as authentication controls, encryption controls, etc. Integrity ensures that the data and information in the computer system has not been tampered or altered by intruders, unauthorized users or malicious users and even the authorized users. It guarantees that the data and information has not been changed or destroyed either accidentally or intentionally by intruders, unauthorized users or malicious users. It also ensures that the data and information remains in its authorized state or form. In order to ensure the integrity of data and information, several measures such as hashing or encryption, auditing is implemented. Availability ensures that data/information and systems are made available to only authorized users for use. It protects the authorized users from all sorts of events that may not allow them access to the system and data in the system e.g. accidental events and malicious events. In order to protect the availability of data, some measures are implanted such as backups, server clusters, and redundant systems. Other terminologies associated with computer security are â€Å"Vulnerability† and â€Å"Threat†. Every part of a network such as the computer, people, network devices, operating systems, etc. have unique weaknesses which is called Vulnerability. In order words, vulnerability is a weakness in computer systems. Vulnerability can be exploited. Exploiting vulnerability is the use of weaknesses in diminishing the system security. Therefore, an action taken to exploit against vulnerability by unauthorized or malicious users is known as Threat. Threats can be natural or man-made, intentional or accidental, technology.  Ã‚  Ã‚   REFERENCES David A. Bradbard, Dwight R. Norris, Paramjit H. Kahai 1990, Computer Security in Small Business: An Empirical Study, Journal of Small Business Management, vol 28. Sousa, Kenneth J; MacDonald, Laurie E; Fougere, Kenneth T 2005, Computer Security in the Introductory Business Information Systems Course: An Exploratory Study of Textbook Coverage, Journal of Education for Business, vol 81, p. 15.

Ethical Formal Report and Analysis of the IT employment market Essay

Ethical Formal Report and Analysis of the IT employment market - Essay Example Most of the service sectors and manufacturing units one way or other depends IT for the modernization of their processes or strategies. IT is one of the essential components not only in the computer related businesses, but it has immense influence on other fields such as education, communication, health, transportation, manufacturing etc. It is necessary to keep certain ethical standards in every business activities and IT industry is also not an exception .One unethical behaviour usually leads to more such behaviours to hide the first one. The modern people are more conscious about the importance of ethical standards in everyday life and they are even ready to pay more for the products of the organizations which keeps ethical standards. Since our college has a wide reputation over a period, any silly activities may result in loss of faith by the public in our institution. Violations of ethics in organizations may bring short term benefits while good ethical practices are necessary for the long term benefits. We have to analyze the ethical standards in our organization on this perspective. I strongly believe that as the Director of Information Technology, you will consider this report seriously and will take necessary actions to sustain the confidence public have in our organization. â€Å"When we talk about business ethics, usually were speaking about standards of behaviour in the workplace as well as with customers and partners. Companies known for high ethical standards usually have an ethical code stating that they treat everyone with dignity, dont present misleading information, and scrupulously follow rules and regulations.† Moral behaviour needs to be embedded in a supportive social infrastructure that promotes consistent behaviour†. (Adam Galinsky, 1994) Unethical behaviours often lead to unnecessary problems as far as an organization is considered. In IT industry, the intellectual property

Employment Law--Whitakers Fine Wines Limited Essay

Employment Law--Whitakers Fine Wines Limited - Essay Example Some of these mistakes include are discussed herein. Principle and application of law relating to Adam’s employment At the time of his inclusion into the firm, Adam had his job specifically spelled out for him. His job entailed overseeing general sales as a manager. This he has done effectively and is yielding positive returns. According to the Employment Rights Act 1996, before taking up a job, one is normally briefed on his or her scope of operation which to Adam was the state of Surrey. When the sales manager for the Hampshire area eventually falls sick and is not therefore able to respond to his official duties, the company must find a replacement as soon as possible and ensure that the interests of the company are upheld. Some of the known ways of filling such vacancies have been through appointing an assistant to the victim to take over his position or to request assistance from another employee of equal rank. The firm opted for the later but failed to realise that in su ch a circumstance, the solicited services are offered on an interim basis which should not always last more than three weeks (Kidner, 2013). When Collins fails to return to work by the third month, the firm ought to have found a permanent solution to his truancy (United Bank Ltd v. Akhtar [1989] IRLR 507). Adam, being a dedicated employee, does both the tasks diligently despite the fact that he is overwhelmed. When he can bear the strain no longer, he lodges a formal complaint with his bosses. This was a formal and an expected way of handling such issues. His bosses assure him that they will look into the matter and find an amicable solution sooner; this assurance however, is given verbally by an immediate boss. This, according to the Equality Act 2010, is a clear show that the firm treats its employees with a lot of negligence. An employee communicates officially with his employers over very pertinent issues of production and the best the firm does is to device mechanisms of avoidi ng claims by merely failing to respond to the letters sent to them and the responsible officer is left to give an unbinding verbal communication in response. Adam eventually develops a life threatening condition from his employment. Given the nature of the disease, it is clear that he developed it out of the frustrations he experienced out of his work place. In case of a court case, it will be very difficult to exonerate the firm since it is clear that the firm bears all the claims. After admitting responsibility of the above faults, the firm should send a formal invitation to Adam expressing regret in the maltreatment he underwent and offer him an opportunity for talks. The receipt of this letter may prompt Adam to take the case to court since it will be evidence of the laxity shown to him by his employers and an admission of culpability. Conclusion The company has shown a lot of laxity in handling its employees. Issues affecting employees is not amicably looked into and the level of negligence specifically shown to Adam’s case is unacceptable. The company risks facing serious industrial actions should the case be filed in a court of law. The firm must therefore carry out very prudent restructuring strategies to try and convince its employees that in deed it holds their interests at heart and avert any legal tussle. On Adam’s case, a great deal of mistake has taken place, the

Bad Grammar On the Web Essay Example | Topics and Well Written Essays - 250 words

Bad Grammar On the Web - Essay Example This sign makes the mistake of replacing â€Å"Lose† with â€Å"Loose.† There is a major difference between the two of these words. My edited version would be: â€Å"Lock Your Car or Lose it.† Coming from the Nottingham City Council, this obvious mistake should have been corrected. It is likely that most people won’t be fooled by it though because it is only a small mistake and they can figure out what it is trying to say. The problem with this sign is that the canine regulations are written from the point of view of the dog rather than the owner. The most obvious mistake is â€Å"Must Pick Up Defecation By Owners,† which implies that dogs must pick up the excretion of their owners. My edited version would be â€Å"Dogs must be on leashes at all times. All dogs must be licensed. Owners must pick up defecation of their dogs.† Since this sign is only in a park, it is not going to make to much difference, but it could cause some confusion for people who read it

Analysis of Stock Market and the Bullion Market

Analysis of Stock Market and the Bullion Market This project reexamines the comparative relationship between stock prices and bullion market in India i.e. gold spot prices for 2006-07 to 2009-10. The study looks after the variation of stock market and gold market in India. The future of the gold and gold price movements are determined by the perception of gold as a `store of value rather than its fundamentals as a commodity. The precious metals value is also determined by such factors as inflation, interest rates and the presence of lucrative alternative investment avenues in the economy. The comparative relationship tested between the BSE index and spot gold prices of bullion market of India. Gold price is included in the model as an additional variable, to examine whether gold price contain any additional significant information about price movements. Since gold is an important saving instrument in India and is very often used as a hedge against inflation, it is expected that gold may be looked upon as alternative asset for thos e holding idle money and for speculative purposes. Conceptual definition/key words sensex Bullion Spot gold Introduction to the study This study is an attempt made to find the comparative analysis of the stock market and the bullion market. This study will also indicate the potential of the two asset classes and the scope for investing in India. Stock market A  stock market, or equity market, is a private or public  market  for the trading of company  stock  and  derivatives  at an agreed price; these are  securities  listed on a  stock exchange  as well as those only traded privately. The size of the world stock market is estimated at about $36.6 trillion US at the beginning of October 2008. The  total  world derivatives market has been estimated at about $791 trillion face or nominal value,  11 times the size of the entire world economy.   The stocks are listed and traded on stock exchanges which are entities a corporation or mutual organization specialized in the business of bringing buyers and sellers of the organizations to a listing of stocks and securities together. The  stock market  is one of the most important sources for  companies  to raise  money. This allows businesses to be publicly traded, or raise additional capital for expansion by selling shares of ownership of the company in a public market. The  liquidity  that an exchange provides affords investors the ability to quickly and easily sell securities. This is an attractive feature of investing in stocks, compared to other less liquid investments such as  real estate. Gold market In the last 6,000 years a little over 125,000 tones of gold has been mined. But this history is clearly divided into two eras before and after the California gold rush of 1848. Some calculations suggest that up until then scarcely 10,000 tones of gold had been excavated since the beginning of time. Thus more than 90% of the worlds gold has been produced since 1848. The story of gold is as rich and complex as the metal itself Wars have been fought for it; love has been declared with it. Ancient Egyptian hieroglyphs portray gold as the brilliance of the sun; modern astronomers use mirrors coated with gold to capture images of the heavens.By 325 BC the Greeks had mined for gold from Gibraltar to Asia Minor. In 1848 AD John Marshall found flakes of gold whilst building a sawmill near Sacramento and so triggered the gold rush in California.Held securely in national vaults as a reserve asset, gold has an irrefutable logic; released from the tombs of pharaohs and emperors alike, gold has an undeniable magic. In  Heritage  we describe just some of the key moments from golds history. Further sections take time to discuss important fundamental issues such as the relationship of  demand and supply, golds  price history; the  golden constant  and golds contribution to society. Review of Literature: The Sensex and the gold prices for a four year period constituted the database. In a recent study conducted by Steve Saville on Gold and the Stock Market during recession this study examines the gold and stock markets in the world markets for the periods of recession. The study brought out the performance of the two asset classes during recession for the last 10 recessions. The comparison on the gold and stock market awaits the Indian context based on this the researcher set to examine the same. Research Gap: The Literature review clearly indicates that the studies are carried out in abroad and not much in INDIA regarding the selected topic. Though some of the data is available it is all relating to the last year data and no study is made up to date, comparing both bullion and sensex. Research Issues: To know the variation, volatility, risk and return on BSE Sensex Indices in Comparison with Gold Spot Rates in Mumbai. To analyze the performance of BSE Sensex Indices in Comparison with Gold Spot Rates in India between 2006-07 and 2009-10. To provide information about effect of investing Equity and Gold. Objective of the study Relationship between the stock market and the bullion market. To study the Bombay Stock Exchange and the Gold bullion market. To analyze the stock market and the bullion market in the Indian context. To study the interrelationship among the Bombay Stock Exchange and the Gold bullion market. To formulate strategies for investors to invest in based on trends. SCOPE OF THE STUDY: Comparative relationship between stock prices and bullion market in India i.e. gold spot prices for 2006-07 to 2009-10. Comparative returns on investment in Equity and Gold. Variations in Sensex and Gold Spot rates by Monthly wise, Quarterly wise and Year Wise of Indices of BSE, Mumbai and Spot Gold Rates of Bullion Market, Mumbai with Charts and Graphs. STATEMENT OF THE PROBLEM: The stocks have risk, which comprises of either unique risk also called as diversifiable risk or unsystematic risk and market risk also called non-diversifiable risk or systematic risk. There are few problems, which reveal the necessary to analyze the variation of the equity shares indices and gold spot rates. We can neither predict the risk involved nor the future performance of the stock. Many equities have not performed well due to which investor has incurred losses. Presently study tries to find out the variation, volatility, risk and return on BSE Sensex Indices in Comparison with Gold Spot Rates in Mumbai has been undertaken. METHOD OF RESEARCH DESIGN TO BE USED UNDER THE STUDY: Descriptive Research: In this research an attempt has been made to analyze the past performance of BSE Sensex and Gold Spot Rates of Mumbai that are considered to be leading indicators of the Stock market and Bullion market. The study is to be done to know the variation, volatility of these markets for the past 4 years. The collection of average values of the BSE Sensex indices and Gold spot rates of Mumbai, on a monthly basis for comparison. METHODOLOGY OF DATA COLLECTION: Sampling Type: A Sample is a small representation of lot of population selected at random. The random of drawing a sample form from a large population is called sampling. Sampling data in this study comprised of BSE Sensex Indices and Gold Spot Rates in Mumbai for the period of 2006-07 to 2009-10. Each with monthly average values was taken for the study. SOURCES OF DATA: Primary data:Are those which are collected a fresh and for the first time and thus happens to be original in character observation and personnel discussion with Internal Guide and External Guide. Secondary Sources of data: The sources of data were only the secondary source as the comparison is done keeping BSE Sensex Indices and Gold Spot Rates. Thus the project did not require any first hand information in the form of primary source. The data were collected through the sources like the www.rbi.org.in for getting the share prices and spot prices of past 4 years. LIMITATIONS OF THE STUDY: The study is restricted to BSE Sensex Indices of Stock Market and Gold Spot rates in Mumbai Bullion Market. The time period for the project was limited and information provided is limited to Internet and Journals. It focuses on every month Average Values during the period from 2006-07 to 2009-10. The above Chart shows that: Totally BSE Sensex has shown upward trend up to Quarter-3 of 2007-08 and there is continuous decreasing trend upto Quarter-4 of 2008-09 due to the Worldwide recession and Economic Slow down in India. Then from Quarter-1, there is great recovery of +92.36% in 2009-10. Totally Gold Becomes costlier by every Quarter gradually and constantly. By Comparison in 2009-10 BSE Sensex has +83.36% more return on investment than Gold. But this increase by BSE Sensex is the recovery of the previous years economic slow down in India and Worldwide recession. Findings: The comparison of the Sensex and the Gold prices for the period of four years from January 2006 to the 31st December 2010 it can be seen that the prices of gold and the Sensex do not follow a same pattern, this is very important to investors as this is indication of two classes of investments that are negatively correlated and investing in both reduces the risk of loss. This is possible through diversification where investing in two different asset classes. From the graph it can be seen that the Sensex rallied from May 2006 from the 9000 level leaving the Gold behind, this continued till January 2008 where the Sensex reached its all time high of 21000. The price of Gold however was in the price range of 9000 to 10000 from July 2006 to December 2007. It is evident that when the stock market started crashing that the Gold prices started soaring and was on a constant upward trend. In the month of September 2008 the prices of the Sensex and Gold went in opposite direction, this is a clea r indication that the two are oppositely correlated. The above graph can be divided into three parts. The first can be year 2006 where the price of Gold and the Sensex moved in the same upward direction till mid May of 2006 where there was a resistance for both the investments and the price came down to the April 2006 mark, then there was a support where the month of June saw the price of Gold and the Sensex at the same level. From August 2006 the price of the Sensex rallied faster then that of Gold to touching a new high of 15000 on the Sensex. The second part of the research period saw the price of the Sensex still rallying in the year of 2007 the same as the end of 2006. The price of Gold continued to rise but on a constant basis and with a gradual increase. The price of the Sensex during the month of September rose on a constant basis to touch a new high of 20500 in the month of December. The next part of the research period 2008 saw the Sensex crash but the price of Gold was not affected with the crash. Wile the Sensex continued t o decline the price of Gold touched a new high in the month of October 2008 of 13000 rupees for every 10 grams. The last part of the research shows that First and second quarter the BSE sensex is seen a bigger growth with 40%and 20% where as at third quarters we can notice gold change is drastic with 10.06% and the last quarter ie up to December 2010 with negligible difference between the two investments. CONCLUSION In this project the researcher set to analyze the comparison between the stock market and the gold market. From the results and analysis that have been conducted, it can be concluded that gold in-deed is a better investment as compared to stock (during the research period) and is a good asset to include in a portfolio for diversification. The combination of the Sensex stock and Gold in a portfolio is also a good investment strategy as these asset classes are both negatively correlated, and this low correlation improves the stability of the portfolio. In the analysis the researcher compared gold to sensex to see the performance of which asset class was good. The results of this comparison showed gold to be a good investment, with an overall higher return. The Sensex is an index composed of 30 multinational companies, thus it has a high market risk. Gold on the other hand is not an index, it is a valuable metal; it therefore has a high unique risk. In the long run, if money was placed in gold and Sensex (2006-2008), it has evidently been seen that the allocation should be around 50% in gold and 50% in the Sensex to obtain an Optimal Portfolio. Thus in the long run, gold has proven to be an efficient investment when combined with the Sensex. With golds past performance in mind, the researcher would recommend an investor today to hold gold in his/her investment portfolio. This is because of the uncertain environment of today, and due to the high return for gold. The optimal amount to invest in gold could however be questioned. For an investor with a long time horizon, a high amount of gold could be more easily defended than for a short term investor. In the long run, spotted short term deviations have tended to smooth out, to an optimal allocation around 50% in gold. Even though it may be hard to predict, the researcher would still urge investors to own a portion of gold in his/her portfolio today, due to the high return to risk characteristics of gold. RECOMMENDATIONS Based on the findings the researcher would give the following recommendations to investors. An investor should invest in Gold and the Sensex to get maximum returns as both the asset classes are negatively correlated and a good combination for diversification. A 50-50% can be invested in both the asset classes as the loss in one will be compensated in the other which will balance the portfolio, as compared to investing in one and facing huge losses or profits which are not always known. Gold has a tendency to rise in India based on demand seasonally, this is particularly true in the season of marriages, and the researcher would recommend investors to buy Gold in times when there is less demand and sell at the times where demand increases. Stock market is very unpredictable and a company can loose its standing in the economy for the smallest of mistakes or problems faced, but Gold on the other hand will never loose its value and this has been evident for thousands of years and it is even today used as a precious metal. An investor should not invest in Gold for short term but for a long term, as gold in the short term dose not return the same as that of the stock market. If an investor believes in buy low, sell high, gold is still low, but climbing and its never too late to invest in gold.

Environmental Regulation of Offshore Essay

The Environmental Regulation of Offshore Waste management in Nigeria has been documented in an article published by Law Environment And Development [1]. Evidence suggest that, Director of Petroleum Resources has to adopt measure to ensure the adequate regulation of offshore oil and gas E&P waste management [3] and further evidence suggest that, all offshore oil and gas E&P activities should also be subjected to environmental impact assessment at every stage of exploration and production in order to facilitate the proper management of wastes generated [124]. There are counter argument that says although the discharge of produced sands containing LSA/NORM into inland waters and near shore waters is prohibited unless treated to the satisfaction of the Director, no mention is made of discharge into offshore waters [53] and however, certain activities such as unplanned discharge of produced water (requiring contingency permits) and the transfer of produced water to another field for treatment and subsequent re-injection (requiring transfer permits) are not covered by permits or approval under Environmental Guidelines and Standards for the Petroleum Industry in Nigeria [17] and the National Environmental Standards and Regulations Enforcement Agency Act 2007 (hereafter NESREA Act) empower NESREA, amongst other things, to enforce compliance with regulation on the handling and disposal of chemicals and waste except in the oil and gas sector (10).

Education is a significant tool Essay

Rodriguez and Freire could share an agreement on the fact that education is a significant tool on the path leading to success. Freire would disagree with Rodriguez on the fact that there is no â€Å"end of education†. Richard Rodriguez and Paolo Freire write of education as the core factor in one’s life. Two Million Minutes, the film makes the argument that U.S. students are performing at a mediocre level, at best, in math and science, and that this cannot stand, given the growing economic and educational might of nations like China and India. U.S. student’s aren’t being pushed hard enough and are just getting by through high school, with the help of The Banking Concept of Education and The Achievement of Desire we can make a change in the student’s education and attitudes towards wanting to be successful in life. Through Freire’s lens, Richard Rodriguez would be seen as a banking student, but could later be seen as a problem-posing student throughout the course of his life; in the eyes of Freire, Rodriguez was considered a receptacle which he did not understand the knowledge he absorbed. With this comparison, the reader can conclude that the banking education is a great part of a student’s life; as seen in the documentary, 2 Million Minutes, students use all their time they have in high school, studying, memorizing their school curriculum in order to get a great education at a high level university to become very successful in their lives. This all ties into how the political aspect of the classroom has an impact on the society as a whole and having this power can change generations to come. The types of relationships Rodriguez had with his teachers, family and in life was affected by specific styles of education and as he looked through Freire’s lens of the banking concept, he came to realized that that method of education had a detrimental effect on his life. Early on in Rodriguez’s essay he illustrates the characteristics of an automaton which confirmed Freire’s views regarding the banking concept. Despite his definition of a â€Å"scholarship boy†, Rodriguez lacked self-confidence which led him to be overpowered by his teachers and his books. Through Freire’s lens, Rodriguez would be considered a waste basket. He was filled not only with his  teacher’s knowledge, but also with information obtained from his â€Å"important† books. Rodriguez seems to be a classic student of Freire’s banking system. Rodriguez shows signs of fleeing away from the ways of the banking concept early on. He concedes by saying, â€Å"I became the prized student anxious and eager to learn. â€Å"Too eager, too anxious an imitative and unoriginal pupil.† At the time Rodriguez was simply just absorbing the narrated information that he obtained from his teachers and books. Even though he was able to narrate the information he received, he did not truly know or understand the knowledge he absorbed. Rodriguez and Freire both state that education is vital for success. Freire states that, â€Å"Projecting an absolute ignorance onto others, a characteristic of the ideology of oppression, negates education and knowledge as processes of inquiry† (Freire 3).Rodriguez did not question or analyze the information; he simply accepted and deposited the knowledge without any doubts. By learning to use his education wisely and make connections between different texts, he heightened his intelligence. In 2 Million Minutes the featured American students Neil and Brittany are certainly intelligent, but they seem more concerned with extracurricular activities and friends than with their studies. Indian students Rohit and Apoorva, however, and Chinese students Xiaoyuan and Ruizhang all plan careers in math or science, and their families and schools support these goals. The film incorporates these students’ descriptions of their high school experiences and future aspirations with the hopes of their parents, and filmmakers juxtapose scenes from the different homes and schools. As it states â€Å"knowledge is a gift bestowed by those who consider themselves knowledgeable upon those whom they consider to know nothing.†(pg.1) Freire is stating that the students do not know anything and that the job of the teacher is to fill the â€Å"piggy bank† of the students’ minds with coins of knowledge. If we just give the students what they want and don’t allow the m to engage back then they aren’t really learning anything. They should both be able to state their opinions, have conversations in which both students and teachers participate, and the students should have the opportunity to lead discussions. This way students develop a relationship with their teachers, their peers, and the world. This will enable them to receive an education where the teachers do not oppress the students, and there is a dialectical relationship between the two;  showing that they care and really want to be informed and learn something new. Although Freire and Rodriguez have different opinions, they both agree that education is the dominating event in the shaping of an adult life. Paulo Freire and Richard Rodriguez opinions of education are almost completely opposed, but they come to a conclusion of agreement in that the primary educational goal is to form a relationship with oneself, and with the world. Rodriguez spent many years of education fulfilling the â€Å"banking† concept, and although he later recognizes the loss it entailed, he primarily believes that imitation plays an important role in the process of education for one must do this to succeed. Here, Freire would argue that the educational system is currently oppressive towards the students, and that there is a sense of necrophilia behind it all, that being the love of death. This love of death, he explains, is the technique of teaching based on memory. Rodriguez would contradict this explanation of education, relaying that â€Å"banking† plays a large role in the success of the student. Freire and Rodriguez have opposing views on the ideas of imitation, alienation, and power, Freire believing all of these concepts need to be removed or reformed and Rodriguez believing that they are important aspects for academic success. Freire’s view on Rodriguez is that he truly didn’t understand what he was being taught, and that’s where The Banking Concept of Education comes in which Rodriguez isn’t communicating with his teachers he’s just listening to what he’s being taught. Paulo Freire and Richard Rodriguez have contradictory views concerning education. Paulo Freire discusses the negativities of present education and explains how it should be reformed, whereas Rodriguez illustrates his own life in education, and how it led him to be the person he is today. Freire believes in â€Å"problem posing education† which consists of an alive, dynamic change in students, allowing them to become humanized with a relationship with the world. 2 Million Minutes it stated that U.S. students aren’t focused and determined to do well in school like those in other countries like India and china. In comparison between the United States with China and India, there is a definite difference between the difficulties of the curriculum within the educational system. Even though we would believe that the educational system in U.S. is the complete and the most perfect one in the world; the amount of the curriculum contents students learn are actually a lot less than students in China and  India. Freire would argue that if Rodriguez was educated under the method of problem-posing he would have embraced his home life and would have developed as an individual. In the end Rodriguez had balanced his life out and reconnected with his family. Education in the end helped Rodriguez realize that other elements of his life are important. Both Freire and Rodriguez believe that a person cannot be without education.