Sturm And Ruger s Mission Statement Essay - 1114 Words

Sturm and Ruger’s mission statement is as follows: Ruger focuses on serving our shareholders, our loyal customers and our employees. We strive to produce the high quality products demanded by our customers as efficiently as possible, which provides long-term value for our customers and promotes the interests of customers, employees and shareholders alike. Ruger is one of the best manufactures for reliable firearms in the world. They are the only full-line manufacturer for American-made firearms who offer more than 400 variations and 30 product lines. Sturm and Ruger manufacture firearms such as, pistols, revolvers, rifles and accessories. Environment International firearm companies could start in the market and become new competitors for the Sturm and Ruger Company. Technology is changing everyday and Ruger will have to keep up with the present technology to keep the customers they have and to gain customers in the future. In social cultural the younger generation has to grow up around guns and become custom to them so they will then become customers. The United States needs to stay economically stable so Ruger can efficiently run and stay competitive. The United States needs to keep the gun laws and can’t ridicule them so citizens are unable to buy guns. For wild game animals to be hunted they will have to have a stable population. Global Environment Sturm and Ruger are very involved internationally. The bigger countries they are involved in are Australia, Argentina,Show MoreRelatedStrategic Marketing Management337596 Words   |  1351 Pagesdevelopment of a competitive stance: the potential for ethical conflict Summary CONTENTS vii Stage Two: Where do we want to be? Strategic direction and strategic formulation 7 Missions and objectives 7.1 7.2 7.3 7.4 7.5 7.6 7.7 7.8 Learning objectives Introduction The purpose of planning Establishing the corporate mission Influences on objectives and strategy Guidelines for establishing objectives and setting goals and targets The development of strategies Summary 265 269 271 271 274 277 290 294

Forensic Accounting - 1497 Words

A study conducted by two professors from Rider College interviewed over 150 lawyers, Certified Public Accountants (CPAs) and accounting educators. The study identified sixteen skills needed by forensic accountants. According to the study, the five most important skills are analytical skills, basic accounting skills, problem solving skills, data analysis skills and interviewing skills (McMullen Sanchez, 2010). Forensic accountants need analytical skills because as they review financial reports and other source documents, they need to analyze the validity of each transaction and determine if the company recorded the transaction fairly. The forensic accountant needs the ability to analyze where the data came from and whether the data accurately reflects the numbers posted in the financial reports (McIntosh, n.d.). With an in house forensic accountant, this will ensure the company’s financial state is accurately reflected while an independent forensic accountant can verify the accuracy of the reports, both of which help investors determine if the company is worth investing in. â€Å"Accounting is widely regarded as the language of business† (McMullen and Sanchez, 2010, pg.1). As such, the need for basic accounting skills is self-evident, for a forensic accountant to be able to review financial reports and other source documents he needs to have an understanding of basic accounting. Without that understanding, the forensic accountant couldn’t determine if the entries in theShow MoreRelatedForensic Accounting Essay1771 Words   |  8 PagesForensic Accounting in Practice: Forensic Accountants: Fraud Busters A forensic accountant is part investigator, part auditor, part attorney, and part accountant (Levanti, T.). Due to the increase in high-profile cases of companies and individuals, forensic accounting is a growing and popular field in the business and forensic subjects. A forensic accountant is someone who is often retained to analyze, interpret, summarize, interviews and present complex financial and business related issues inRead MoreForensics Accounting : Kessler International1612 Words   |  7 Pagesleaders in forensics accounting and investigations. With its headquarters in New York City, the small company was able to grow. This firm is renowned in many countries around the world. Its dedicated accountants and analysists work very hard to catch people suspected of committing crimes involving money. Due to fraud and other forms of dishonest business behavior, Kessler International steps in to investigate. They offer a wide variety of services ranging from Forensic Accounting, Di gital Forensics, IntellectualRead MoreForensic Accounting : The Energy Company Enron1765 Words   |  8 Pagesinvolved in one of the biggest corporate accounting scandals of the 21st century. The company had covered up large amounts of debt to make their financial statements look more appealing to investors; consequently, after the fraud was discovered, many people lost their investments and many employees lost their jobs, including the corporation’s CEOs. After the authorities had been alerted that illegal activities were possibly taking place within Enron, forensic accountants were brought in to determineRead MoreForensic Accounting1628 Words   |  7 PagesFORENSIC ACCOUNTING MORE THAN JUST NUMBERS The field of accounting is no longer just for those who enjoy crunching numbers. Preparing financial statements, internal auditing, and tax accounting are only the tip of the iceberg. In today s society of the money hungry, the sue happy, and the financially unfit, a new breed of accountant; the Forensic Accountant has emerged. Although Investigative Accounting has been around for years, it has only recently begun to transform into the scienceRead MoreForensic Accounting7273 Words   |  30 PagesManagerial Auditing Journal Emerald Article: Forensic accounting education: insights from academicians and certified fraud examiner practitioners Zabihollah Rezaee, E. James Burton Article information: To cite this document: Zabihollah Rezaee, E. James Burton, (1997),Forensic accounting education: insights from academicians and certified fraud examiner practitioners, Managerial Auditing Journal, Vol. 12 Iss: 9 pp. 479 - 489 Permanent link to this document: http://dx.doi.org/10.1108/02686909710185206Read MoreForensic Accounting1945 Words   |  8 Pagesï » ¿Determine the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations. Style is a fraud. I always felt the Greeks were hiding behind their columns. Fraud in the financial community is consistently hidden in style. Since its beginnings in the great depression, to now, the great recession fraud has undoubtedly takingRead MoreForensic Accounting : A Relatively New Field1554 Words   |  7 PagesIntroduction While accounting has always been widely practiced, forensic accounting is a relatively new field. Forensic accounting is the use of accounting to extract information from financial documents to prove fraud or embezzlement in the court of law. It involves identifying, recording, and extracting financial data while using a variety of direct and indirect analysis methods. In recent years, the profession has gained attention for its role in stopping both terrorists and corporations fromRead MoreForensic Accounting : The Field Of Accounting1585 Words   |  7 PagesThe field of accounting goes deeper than the general business field and requires specialized actions. Accounting is the systematic and comprehensive recording of financial transactions pertaining to a business. This system can contain various steps, procedures, and processes that led you to your final results. Some of these various types of accounting include tax, managerial, financial, governmental, private, and forensic acco unting. So as you can see, even in this extremely specialized field youRead MoreForensic Accounting1872 Words   |  8 PagesAlverez makes Sonya to accept the offer because she needed the money. If Sonya accepts the offer by Carlito Alverez, there are potential that Sonya might against the code of ethics as tax practitioners and could be finalized on her wrong doings. FORENSIC APPROACH âž ¢ THE ENGGAGEMENT PROCESS Fraud investigation engagement process consist of six steps that the investor need to go through. In this case, Sonya Fuentez which is the IRS- enrolled agent, should go through this process before she decideRead MoreForensic Accounting in Practice1443 Words   |  6 Pages Forensic Accounting In Practice Ronald Wimberly-EL Bagher Fardanes, Ph.D, MPA Business 508 May 19,2013 Running Head: Forensic Accounting In Practice Page 2 The five most important skills a forensic accountant should

Purpose of an Operating System Free Essays

CPU and memory requirements are the most glaring but even hard rive partition size and what kind of disc drive present matters. Within the generations of Windows there is a long list of features that separate them. Windows XP was introduced with personalized start menu options per user using the PC. We will write a custom essay sample on Purpose of an Operating System or any similar topic only for you Order Now XP was the first Windows SO to self-adjust the task spacing as the user opened more programs. Windows Vista introduced Area, Sidebar, and Gadgets in an effort to enhance the users experience but also to make it easier to interact with the main system through the mini-application based Gadgets. Simple services like displaying pictures, turning wireless on or off, ND music playback were available that prior to Vista required a running program. Windows 7 further enhances the user experience with modification to Windows explorer and how it organizes the files and folders in an easier to use format. The use of Libraries enables the SO to index files by content and therefore able to group in a way where the user is able to locate a file even if the file is saved in an unrelated folder. The second largest of the major ASS is used exclusively by Apple. Mac SO is a proprietary system that has a very strict requirement for what hardware will work with the system. Despite the hardware limitations to only Intel Cups and approved motherboards, it remains a huge favorite to certain groups of users like multimedia designers, graphic artists, and music producers. One potential reason for this is because Apple was the first to utilize a simple a graphical user interface (GU’) therefore making it easier to use the system instead of driven by often hard to use and complex DOS commands. With later versions of Mac like SO X, various technologies, such as Anti-Aliasing and Colors are used to dramatically improve the user interface. Another difference is that a user can pen PC files like . Doc and . AXIS within Mac without problem, while Windows requires conversion software to open Mac files. By doing this, Apple has in effect broken down many important barriers while the average PC user has resisted in adopting a Mac over a PC. Despite some advantages, Mac usage is low, roughly 10% or lower of the entire computer market in the U. S. The smallest market share among the ASS belongs to Linux. Users have been slow to adopt it since its inception in October of 1991 by Lines Dorval. Despite little use by average users, there exists many a version or distributions which ghastly dominate the area of computers known as servers, main frames, and super computers. Linux is also the system of choice on much smaller devices like phones and tablets. What makes Linux exciting to use for some is also what keeps most users away; Linux has splintered to over 300 variations. Most are specialized for the devices which it is meant to be installed on, but even for use for the mass market of users there are still four major variations such as Bunt, Use, Red Hat, and Knops. Common trait within Linux is that it has a very small footprint compared to larger ASS like Windows. For computer enthusiasts, one can run a distribution of Linux on hardware that is otherwise vastly outdated or run alongside Windows on the same computer. Another advantage of Linux is the well-established and openly accessible documentation on the commands but also how to configure the System best for the user or the use of the SO as well as how to troubleshoot issues. For software hobbyists and professionals this means that they can basically tailor the system to their needs and cut the dependence on what Microsoft or Apple may offer. Because of the open source nature of the SO, they can both upload fixes and receive enhancements from other users and the committees that oversee Linen’s development. Despite the differences between operating systems a common thread among them is that they help shape the user experience of a computer. By doing so it enhances our desire to continue using computers and their many benefits. Without development of operating systems things such as modern day networks or communications wouldn’t be possible. Since new technologies are constantly bringing us new and better hardware, it’s the operating system and its development that will continue to encourage the user to ultimately enjoy the device. How to cite Purpose of an Operating System, Papers

Ethical Dilemma Scenarios Of Harry Samples †MyAssignmenthelp.com

Question: Discuss about the Ethical Dilemma Scenarios Of Harry. Answer: Introduction An ethical dilemma is a situation whereby a person is faced with only two options for which they have to choose the best cause of action from the two of them. Therefore, ethical dilemma is referred to as a situation where an individual is presented with causes of action to choose from but with a guarantee that no matter the choice they make, there is always some ethical principle being exercised (Burtonet al, 2017). From the case study information, yes there is an ethical dilemma. There are around three ethical dilemma scenarios in the case study. Harry the network programmer in Fabio Inc. is faced with an ethical dilemma. When he finished developing his antivirus program, he presented it to Jill his manager at Fabio Inc., but she did not accept his deal for selling the program to the business in discount. Later on, Harry was faced with a dilemma on whether to continue with his dreams of developing the program to be even better and sell it or give up. The dilemma was between choosing to continue developing the program which would mean time, career and skill wastage or just sell the program which would mean him being realized by Jill and maybe being sucked from Fabio. The other dilemma is faced by Brockley, the overall manager for Fabio. When he received an email from Iris Bigg (Fabios owner) asking him to look for Lock smith (apparently Harry whom he had fired) and hire him. He argued that Lock Smiths skills and expertise would help Fabio a great deal. The dilemma was to choose between contacting harry and rehiring him once more, which would destroy his reputation in the business or not contact or rehire Harry and be fired by Iris. Understanding the Situation In this scenario, it is clear that Fabio Inc. has serious problems and challenges when it comes to protecting its Information Technology (IT) devices, software systems and programs. On the other hand, Harry the businesss network developer is very talented and skilled in fields that related to security protection especially those that relate to computers, IT devices, software systems and other computer programs. He has developed an antivirus program which seems to be very effective for any device or machine. However, when he offers it to Fabio, his manager, Jill does not approve of its effectiveness or efficiency, and instead, she thinks that it is a danger to any system rather than a help to any organizations security systems. Harry gives up his idea of developing the antivirus program further but still uses his skills to help people through the internet by using a fake name, Lock Smith. Lock Smith becomes a very popular and famous individual in the field of system securities and net work programming. Later he is recognized by some associates of Fabios owner. Iris Bigg sees an opportunity and asks Brockley (Fabio Manager) to hire Lock Smith. This becomes a big dilemma for Brockley because he is the person who entertained Harrys firing in the first place and now he has to hire him back to offer the same services that he was offering before he was fired. Isolation of Major Ethical Dilemma The major dilemma in this case study is the dilemma faced by Brockley when he is asked to hire the famous and popular Lock Smith. Brockley knows clearly that Lock Smith is Harry whom he fired. The dilemma is between choosing whether to hire Harry back and get his image destroyed or to ignore Iriss order and lose his job in Fabio as the manager. No matter what the choice he makes, he will screw with business ethics of the other choice. Ethical Analysis Consequentialism- In an ethical dilemma, it states that whatever choice an individual makes, the best choice will be one with the most overall consequences accompanying it (Babalola et al., 2012). For this case, the choice for Brockley is to hire Harry back. His image will be damaged, but the business will be able to get solutions to its security problems. Right and Duties A right refers to a something that is morally correct, legal and honorable. A duty is a responsibility or an activity that should be performed by a specific person at a certain time. Right and duties in ethics are the responsibility of an individual to perform a certain right or ensure that those rights are followed (Goold et al., 2009). In this case study, it is the duty of Fabios owner (Iris) to ask Brockley to hire Lock Smith. Also, it is right to hire Lock Smith because he seems to be very skilled and experienced in the field of system security. Kants Categorical Imperative It is a moral statement that encourages people to carry out themselves as if they were role models and example to everybody else around them, or rather to act the way they would wish everybody should act. In this scenario, it seems like a piece of advice to Brockley, who failed to conduct an investigation when Jill presented him with information on Harry. He should have looked deeper and found that his opinion on Harry was valid and a possible cause for termination of Harrys contract of employment. Discussion This scenario is addressing Brockley on his dilemma. He should obviously choose the choice that he thinks is the best for him, the business and his career. However, he should be in a position to identify and understand all consequences that follow every choice. He should also ensure that the employee and business owners rights are adhered to and respected. He should make sure that the right thing is done no matter the scenario and no matter who comes with the idea, e.g., investigating to confirm situations. This should, therefore, lead to him treating others in the right manner and behaving like he would want others to act. Making a Decision If I were Brockley, I would choose to hire Harry back to Fabio. The positive effects of this choice are more manageable than that of choosing to ignore Iriss request. Steps for implementing the Decision State the dilemma Determine the facts Identify possible alternatives or options Test the options Identify possible consequences Make a choice Monitor and modifying References Babalola, O., Grant-Kels, J. M., Parish, L. C. (2012). Ethical dilemmas in journal publication.Clinics in dermatology,30(2), 231-236. Burton, E., Goldsmith, J., Koenig, S., Kuipers, B., Mattei, N., Walsh, T. (2017). Ethical considerations in artificial intelligence courses.arXiv preprint arXiv:1701.07769 Goold, B. J., Lazarus, L., Desai, R., Rasheed, Q. (2009). The relationship between rights and responsibilities.

Great Gatsby, The free essay sample

Examines characters, plot, theme of cultural corruption deception of the American Dream. The Great Gatsby In the novel The Great Gatsby, F. Scott Fitzgerald portrays Jay Gatsby as a somewhat sympathetic yet wholly corrupted rendering of the American Dream. Nothing about Gatsby is what it appears to be and the foundation on which his life is based at the time we meet him is a ladder of lies. However, Gatsby is merely the central focus of an entire world composed of people just as corrupted as he, in the sense that these people practice an intriguing and dangerous blend of casual honesty versus intimate dishonesty. One of Gatsbys greatest errors is his failure to realize that the people with whom he surrounds himself practice this blend of honesty and dishonesty for the specific purpose of maintaining the status quo. Gatsby, on the other hand, has..

Free Essays on Gangsters In The 1920’s

Gangsters in The 1920’s The twenties was a time of change in the Untied States. One of the changes the occurred was prohibition. Alcohol was part of America's culture and its people did not want to stop drinking. Prohibition forced open the country's doors to the most ruthlessly resourceful and crooked entrepreneurs: The Mob. Realizing there was a demand for alcohol, organized crime factions began making their own beer and liquor (booze, bathtub gin). Many oversaw the transportation of illegal liquor from across the Canadian border. Gangs were tolerated in the beginning by the general public because of this service they provided, but they were not ready for the consequences that they provided as well. Gangsters were involved in bootlegging, prostitution, gambling, organized crime, and racketeering. Al Capone, Bonnie and Clyde, and John Dillinger were some of the big names involved in this era. Being a gangster was a very risky job but it provided substantial rewards for a nation dying to spend money and also during a time when jobs were scarce in the middle of a depression (in the 30’s). When Congress passed the eighteenth amendment, alcohol was banned in every way from America. People who were addicted to alcohol and even those who were accustomed to the casual drink still had a demand for it. Many would pay top dollar for booze; they didn’t think obtaining alcohol was morally wrong as it was legal just a few years back. Citizens would hold hush-hush socials and would serve alcohol to all of the company; this was usually done by the wealthy because of the high cost of alcohol. This create opportunities for those prepared to gamble and bootleg illegal alcohol to the country. Accumulating large amounts of money, greed began to grow. They continued to venture into other areas were the general public like to indulge themselves. These gangsters began to open speakeasies, which were like old west taverns with prostitution, g... Free Essays on Gangsters In The 1920’s Free Essays on Gangsters In The 1920’s Gangsters in The 1920’s The twenties was a time of change in the Untied States. One of the changes the occurred was prohibition. Alcohol was part of America's culture and its people did not want to stop drinking. Prohibition forced open the country's doors to the most ruthlessly resourceful and crooked entrepreneurs: The Mob. Realizing there was a demand for alcohol, organized crime factions began making their own beer and liquor (booze, bathtub gin). Many oversaw the transportation of illegal liquor from across the Canadian border. Gangs were tolerated in the beginning by the general public because of this service they provided, but they were not ready for the consequences that they provided as well. Gangsters were involved in bootlegging, prostitution, gambling, organized crime, and racketeering. Al Capone, Bonnie and Clyde, and John Dillinger were some of the big names involved in this era. Being a gangster was a very risky job but it provided substantial rewards for a nation dying to spend money and also during a time when jobs were scarce in the middle of a depression (in the 30’s). When Congress passed the eighteenth amendment, alcohol was banned in every way from America. People who were addicted to alcohol and even those who were accustomed to the casual drink still had a demand for it. Many would pay top dollar for booze; they didn’t think obtaining alcohol was morally wrong as it was legal just a few years back. Citizens would hold hush-hush socials and would serve alcohol to all of the company; this was usually done by the wealthy because of the high cost of alcohol. This create opportunities for those prepared to gamble and bootleg illegal alcohol to the country. Accumulating large amounts of money, greed began to grow. They continued to venture into other areas were the general public like to indulge themselves. These gangsters began to open speakeasies, which were like old west taverns with prostitution, g...

Find a story to write about and analyze the story Essay

Find a story to write about and analyze the story - Essay Example What makes the conflict more complicated is the age gap of the major people involved—the adult doctor and the ill child. Apparently, the child has no power to refuse medication; the right to resist is in the hands of her parents. But what happens if there is an element of harm involved? What if the child knows that she will feel pain or get hurt by the medical procedure based on previous experience? Is it still unjustifiable to allow the child to decide for herself? And, most importantly, is the use of force justified in a situation wherein a child with a possible life-threatening illness is uncooperative? It is a common knowledge that doctors are the people to go to in cases of life-threatening illnesses. These doctors avowed to the duty to preserve life. However, this duty has its limitations. The fatally ill patient has the right to resist medication, especially if s/he knows that it will bring him/her pain or harm. But what if the patient does not have the decisional capac ity, like a child? The release for consent goes to the parents or guardians of the child. In the story, the child’s parents obviously permitted medical intervention. However, the mother tried self-medicating her child first, and when her methods did not work, she and her husband decided to call a doctor. This fact alone shows how helpless the situation of the child is, which forcibly places her at the mercy of her parents’ decisions. It is obviously against the child’s will to call the doctor. Even at the very beginning of the incident, the child already showed signs of distress when the doctor arrived: â€Å"the child was fairly eating me up with her cold, steady eyes, and no expression to her face whatever. She did not move and seemed inwardly, quiet†¦. But her face was flushed, she was breathing rapidly, and I realized that she had a high fever† (par. 4). This observation alone may suggest that the child felt frightened seeing the doctor. As the s tory goes on, the resistances of the child becomes stronger. Despite of the reprimands of her parents, she continues to fight back and refuse medication. The child, as a human being, and not as an individual with adequate decisional capacity, is fighting for her right to avoid pain. Obviously, the child associates the image of a doctor with pain. She proves this when she shouts in frustration, â€Å"Don’t, you’re hurting me. Let go of my hands†¦. Stop it! Stop it! You’re killing me!† (par. 25) By firmly resisting, the child affirms her right to avoid pain, and her power to sway the decision of her parents. By showing them that she does not want to be treated medically, and that she is being hurt in the process, she effectively forces her parents to rethink their decision about the matter. Her mother finally said: â€Å"Do you think she can stand it, doctor!† (par. 26) Likewise, her father seems to begin to falter: â€Å"The father tried his b est, and he was a big man but the fact that she was his daughter, his shame at her behavior and his dread of hurting her made him release her just at the critical times†¦Ã¢â‚¬  (par. 23) But the doctor did not waver and insisted that he has to get a throat culture to save her from a possible fatal disease. While the child is fighting for her right to avoid pain, the doctor is strongly fighting for his professional oath—to preserve life. The doctor is trying his best to keep calm because he knows he has to fulfill his

Getting rid of the Federal reserve bank would solve americas problem Essay

Getting rid of the Federal reserve bank would solve americas problem - Essay Example Some Republican presidential aspirants have demonstrated open rejection of the Federal Reserve System. They have sited the US economic crisis as turmoil that emanated from poor policies guiding the Federal Reserve. These politicians seem to use arguments floated by some economists who believe that the Federal Reserve System is a burden to the American people (Meltzer 199). Ideally, presidential politics does not only shape the future of Americans, but also influence the global economic balances. US economy is a central factor in US politics because it influences the taxation programs, international relation, domestic social welfare, and the satisfaction of basic human needs by the American citizens. The US politics in the global scale depend on its economic power. Thus, politics concerning the US economy does not only influence the lives of US citizens, but also the conditions of life in other countries (Wells 2). For instance, the US economic crisis reverberated to international sca le shaking the global economy. The concern of the US political aspirant is to restore faith to the public. Banking regulations influence the flow of currency, which subsequently affect money market. These restrictions influenced banking system in US in early 1900s leading to the creation of the Federal Reserve System in 1913 (Wells 2). The system came into operation in 1914 November. The intention of the Federal Reserve Act was to create an alternative source of bank and currency reserve, which could control panics when money supply in the market increased because of the need to expand business. History records that during the great depression, Federal Reserve failed to discharge its duty. About 9000 banking institutions collapse during that great period (Wells 3). Changes that Fed has developed over time in response to economic challenges has made many observers to believe that, Fed has on

The Rise of China And Its Positive Impact On the Trend In World Essay

The Rise of China And Its Positive Impact On the Trend In World Politics - Essay Example This essay stresses that the global economic framework that exists with 5the principle function of financial supervision was created in 1974 by the G7 nations in which China is a partisan member. The framework is the Basel Committee on Banking Supervision (BCBS) China is able to contribute positively to the trends in world politics through the observation of the various governing rules and standards that dictate its engagement with institutional bodies and other key industrial players. Voluntary standards imposed on minimum capital rules derived from banks aim to correct challenges ND problems of high leveraged loans instabilities occurring in transnational markets between banks, competitive inequality problems and â€Å"race to the bottom† regulatory. This paper makes a conclusion that China has been seen to adopt the Badel Capital Adequacy Accord that is referred to as Basel 1. The G10 countries decide to adopt the principle that required the member states of which China is inclusive to have an 8% holding capital that was measurable of their overall risk-weighted assets. Big global banks challenged the Basel 1 framework and sort for an internal risk model that was going to facilitate the competition that existed among the global industrial players. It therefore led to the formation of a reviewed framework Basel 2 that defined the mechanisms of market self-regulations. However, the new regulation only favored the high economic powe4rs and the developed countries gained less from the rule.

Oceanic Bank International PLC Training Methods and Practice

Oceanic Bank International PLC Training Methods and Practice INTRODUCTION The importance of training in the human resource management efforts of any organisation cannot be overemphasised. That is why training is key to the survival of every human resource strategy of any given organisation. Employee training is becoming a necessity to every organization nowadays as training enables them to carryout roles and responsibilities efficiently and also learn new things, which will prepare them to take up higher responsibilities in the future (Karthikeyan, Karthi Graf 2010). Human relations management training, broadly conceived, is a popular means by which numerous public organizations seek to enhance productivity. Public managers consume prodigious quantities of management training and should be seriously concerned with the effectiveness and success of such intake (Gerald, 1989). Traditionally, training and development was not seen as actively that could help, organizations create value and successfully deal with competitive challenges (Oludairo, 2006). According to Cascio (2003), many organizations both small and large shy away from training their employed because they think that by improving the skills of their workforce, their employees will be more marketable to competitors. And where there are well training programmes, there are poorly implemented, like too much fine wine, may actually impede rather than invigorate a robust organizational health (Gerald, 1989). Operational definitions of key concepts The Concept of Training Trainings focus has broadened in the past few years (Bernadin, 2003). Training used to focus mostly on teaching technical skills, such as training assemblers to solder wires or teachers to device lesson plans. However, technical training like that is no longer sufficient (Oludairo, 2006). In recent time, organization has had to adapt to rapid technological changes, provide quality goods and services, and increase revenue to stay competitive. Improving quality required remedial education training. Similarly, employees today need skills in team building, decision making, and communication as well as technological and computer skills (Oludairo, 2006). According to Fajana (2002), training is the process that involves developing skills and learning concepts, rules or attitudes in order to increase effectiveness on a particular job. Casco (2003) sees training consisting of planned programme designed to improve performance at the individual, group and/or organizational level. Ubeku (1975) in his own contribution, defines management training as the process of developing managers knowledge, skills and attitude through instruction, demonstration, practice, and planned experience to meet the present and future needs of the business. This management training is the same as development or management development. Development refers to the process of teaching managers and professional employees that knowledge, skills needed for present and future task accomplishment. Considering the above definitions, one can conclude that training and development involve the systematic and continuous developing skills, learning concepts, attitudes and knowledge needed by employees to perform effectively and efficiently at work. Oceanic Bank International PLC Oceanic Bank International Plc is regarded as one of banks that brought new revolution in the banking sector to Africa. Incorporated in on March 26, 1990, the bank commenced business on June 12, 1990. The bank has been growing from strength to strength since then. Its shares were listed on the Nigerian Stock Exchange on June 25, 2004, having achieved a public liability company status. The bank is second to none in excellent deliveries and world class banking technologies in Africa. According to the banks website, the bank has a strong presence in asset management, commercial banking, health management, insurance, investment banking, pensions, registrar services, savings loans and trustee services, as well as over 370 business offices spread across Nigeria, Cameroun, the Gambia and Sà £o Tomà © Prà ­ncipe, Oceanic Bank is one of the most recognized financial services brands in West Africa. The rational for choosing Oceanic Bank for this essay is hinged on the fact that the author is an insider who has been working with the bank for years and have undergone series of training within the bank. Currently on the banks study leave, the author has unfettered access to the training methods and practices of the organisation and is able to specifically assess and examined the banks training methods and practices as demanded by the question at hand. Brief review of literature Various scholars and researchers have contributed to training especially in the banking sector. Among them is Richards (1997) who posits that during a management trainee programme, the real objective is to focus on the individual manager and not the position in the company. Richard contributed to training needs analysis, vis-a-vis; about core competencies, job profiling and identification of competencies gaps-either against core competencies for individuals or against job profiles for generic roles. Another important work that focuses on training in the banking industry is that of Niki Glaveli and Stella Kufidu (2005). The authors jointly analyzed the changes that took place in the Greek banking industry in three good years. The author also looks at the impact of the changes on the role of employees training and development for strategic implementation and success, using four case studies to investigate the effect of the environmental changes on these particular banks and the role of their training and development strategies in adjusting themselves to the changing industry environment (Glaveli Kufidu 2005). In a more related work to this study, Rainaye (2004) empirically examined the training policy in two commercial banks. The banks are the State Bank of India and Jammu Kashmir Bank Limited. The aim was to study some kind of training styles including Managements attitude towards training, training inputs, quality of training programmes and transfer of training to the job. The study found out that the training scenario is to a large extent satisfactory. The study also evaluates the opinions of the employees of two cadres of both banks and in particular that it can be made fully effective only when the training needs assessment and transfer of training to the job are considerably improved, besides bringing in finer improvements in other dimensions (Rainaye 2004). Badhu and Saxena (1999), in their work titled Role of Training in Developing Human Resources proved that an organization should have well-defined training policy as well as training manual and training should be made an ongoing process. The duo also proved that the executive development programmes have been found to be useful in improving the productivity, efficiency and effectiveness of managers. In their research, Karthikeyan, Karthi Graf evaluated the effectiveness of training in six banks and how training contributes for growth of the banks. The study which carefully focussed on three public sector banks and three private sector banks has core objectives of analyzing the effectiveness of Training in selected banks in Tiruchirappalli District, South India and also to find the association between effectiveness of training and growth and result of banks. Assessing Training Needs Organisations spend over $200 billion annually on employee training and development (Wexley and Latham, 1991). They rely upon this training to help develop employee skills that are critical for success in todays fast-changing, competitive environment (Guthrie and Schwoerer, 1994). There training programs are a dubious investment, however, unless they are based upon a sound training needs assessment TNA (Goldstein, 1993). According to Burton and Thakur (2003), a good training program should identify: (i) the specific skill areas that are to be strengthened as a result of the training; and (ii) the resources that is available to support the training. They posit that an effective training process must begin with a thorough need analysis to clearly identify the learning to be achieved, and it must end with an objective training program evaluation. A comprehensive training needs assessment provides information on organization needs- the organizational units in need of training; task needs- the knowledge and skills trainees must acquire for effective job performance; and person needs-the individuals in need of specific types of training (Wexley and Latham, 1991 Guthrie and Schwoerer, 1994). As shown in the figure below, the first step of training process is the assessing of training needs and providing answers to the following questions: (i)Who needs the training?(ii) Exactly what do they need to know or be able to do? (iii)What do they already know or are now able to do? (Burton and Thakur,2003). The other steps deal with identification of training objective which should be specific, measurable, attainable, realistic and time bound, implementation of training program, evaluation, and adjustment if necessary. Assess training needs Who need to be trained? What do they need to know? What do they already know? Set training objectives (specific, measurable etc.) Plan training evaluation Did trainees like the training? Can they meet the training objectives? Do they perform better on the job? Develop training program: content, location, methods, trainers, duration Conduct Training Evaluate Training Modify training program based on evaluation Training methods and practices at Oceanic Bank International PLC Oceanic bank places great importance on its training and thats why the bank is known as a workplace where staff can really learn and work at the same time. Training at oceanic bank intl plc has been an important task or function to be completed by the human resources department. Whichever level an employee enters the organization; it is mandatory for such new employee to go through series of training both on- the- job and off- the- job. The Oceanic Leadership Academy The oceanic Leadership Academy is the training school for the bank. It is the first port of call for every new staff of the bank. The new staff members resume rigorous academic studies in the Academy for five weeks where their success is chiefly determined by written and oral examinations. The Academy goes a long way to determine whether a new staff will be retained in the bank or sent packing as staff who failed the short course will be asked to leave the employment of the bank. The Academy has very reach curriculum and work modules, most of which are packaged to deliver the peculiar nature and businesses of the bank. The Oceanic Academy, being the learning arm of the bank is run by the Human Resource department. According to the Banks websites, the department is responsible for all capacity building and training interventions aimed at developing the skills and capabilities of employees, thus improving their competencies on the job, their overall productivity and the competitiveness of Oceanic Bank Group. Induction courses After the graduating from the Academy, the induction processes of the bank follows. Induction training is conducted to newly employed staffs of oceanic bank within the branches of the bank. The programme is intended to improve the financial literacy of participants whilst strengthening their knowledge and competencies. This is carried out both on-the -job and off- the-job which enables the new entry level officers to understand the business and development of skills needed to carry out their job functions required by the organisations standard and practise. A one-week induction course for experienced new hires and a three-day induction course are available to certain grade levels. In addition, desk-to-desk induction is structured specifically for senior management staff. Off-the-job training in Oceanic Bank This is a training programme outside the organization which is encouraged by the bank. The bank usually sponsors and support their staffs for specialised training in various fields especially in the area of the modern day technology, credit and mortgage. Staffs are been sent on training in different training programmes such as (core banking application) finacle training in Indian and other European countries. Such staffs have come back more enlighten and are able to pass done such knowledge to subordinate and co- workers. On-the-job training in Oceanic bank Oceanic bank make most use of on-the-job training by assigning a trainer to the newly employee to put such employee through by learning the practical aspect of the job on-the-job. Job rotation is also an important training method employed by the bank where staff members are been moved from different department to gain more experience and familiarise themselves with all areas of banking, from marketing, credit, operations and application of core banking software. Oceanic bank staff members gain a lot through job rotation as given employees opportunity to work in different department of the bank is helpful. This initiative also helps staff members to move round different department which enable them bring in new ideas to other departments to enhance employee performance. Job rotation of staff also reduces boredom on the job because of diverse task to be carried out by employees. This also enables the staff to understand all the core aspect of banking as well as working with different people and senior managers across the business. Knowledge sharing section: This is a training programme designed by oceanic bank to be conducted by each branch on weekly basis. It is anchored by designated staff of the bank on a rotation basis. The aim is to bridge learning gaps on the operations of the bank. This is done specifically to update each staff of the bank on operations of the bank, the position of the bank, introduction of new products as well as knowledge outside the banking operations Short courses in Oceanic bank The bank periodically organizes Open Courses which cover diverse areas of development including Leadership, Communication, Health and Wellness, Credit Skills, Marketing Skills and Soft Skills. Mostly the bank sends mails to staffs to indicate there interest whenever the organisation organises open courses for staff The bank encourages the staff to register and monitors their progress for professional courses. In line with this the Oceanic Academy partners with various organisations like the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Bankers (CIBN) in the area of Continuous Professional Development Programmes. They also encourage personal development of each staffs by allowing staffs to go on study leave for further studies, and opportunity the writer of this essay is currently enjoying. E- learning: This is the bank internet training facilities provided to the employees of the bank for training purpose. There are various materials on this site which employees can read and download to enable them broaden their knowledge on the core banking subjects as well as non-banking related areas of study. Effectiveness of Oceanic Bank Training programmes The oceanic bank training scheme is by far one of the best in the banking sector as attested to by staff of other banks. The programme is well structured in such a way that it makes it easy for every member of staff to undergo it without any stress. This is desirable as it makes the staff to love and appreciate their work. This in turn encourages efficiency and increased productivity. Because staff had gone through certain training processes, they are confident in doing their job and they build up work ego and pride in delivering stated task. Shortcomings of the Oceanic Bank Training programmes While it is good to have a formal training school for staff training like the Oceanic bank leadership academy, it is somewhat unfair to based performance of new staff on classroom examinations, worstill, that those who failed the examination are shown the way out of the employment. This is hinged on the commonly known assertion that examination is never the best way of testing human knowledge. A very good staff that has sound practical knowledge of the banking system might be unable to successfully pass written examination for one reason or the other. For this reason, the mode of determining whoever successfully passed through the academy is put to question. Another shortcoming observed from the Oceanic Bank Training programmes is the management of the delivery of the on-the-job training. More often than not in the department where this author work, the pressure of work and overwhelming customer demands and queries do not allow room for teaching someone else on the job. The implication is that most new staff spend longer than usual in learning new skills while working. Often, those doing the training may have no experience in training, no time to do it, and no desire to participate in it. Under such conditions, learners essentially are on their own, and training likely will not be effective. Another problem is that on-the-job training can disrupt the flow of regular work. Unfortunately, on-the-job training can amount to no training at all in some circumstances, especially if trainers simply abandon the trainees to learn the job alone. Also bad habits or incorrect information from supervisor or manager can be transferred to the trainees. Conclusions and Recommendations for Improvement Owing to the complex nature of jobs in the banking sector, the importance of employee training has increased. In a rapidly changing society, employee training is not only an activity that is desirable but also an activity that an organization must commit resources to, if it is to maintain a viable and knowledgeable workforce Karthikeyan ,Karthi Graf (2010) Because of the enormous advantages of training to an organisation, the amount spent should be seen as an investment rather as a cost to the organisation. Training has been a very formidable part of every organisation. In fact it is a prerequisite for effective employees performance and growth on their jobs. Logically speaking, the higher the quality of training an employee receives, the higher the quality of productivity and vice versa. It must be stressed therefore, that training and development improve quality, customer satisfaction, morale, profitability, business expansion and development i.e. overall organizational productivity. Hence, it gives organizations competitive advantage. This essay recommends an informal approach to accessing staff performance in the training school, vis-avis, the Oceanic Bank Leadership Academy. In this way, emphasis should be laid on assessing the delivery of practical tasks assigned to the new staff rather than just asking them to write written examinations. Also, new staff should not be laid off for failing the written examinations in the academy. It is also recommended that on-the-job training should be more formalise such that pressure and workload would be reduced from the shoulder of the trainer. Such trainer, as a matter of fact, should be allowed concentrate more on the trainee rather than the customers during the period of the induction. It is also advisory that Oceanic bank introduces a kind of personality development programmes such as role play, group discussion and business games. By this, the senior, management and other lower staff can build synergy and the superior and subordinate relationship can be strengthened for the overall productivity of the bank. In General, the Human Resources department should enhance their training programmes in line with latest demands in the banking sector, especially in this age of online bank and sophisticated fraud. This is because every organization that want to survive in this very dynamic world of banking needs to have well-trained and experienced people to perform the activities that have to be done.

Warriors of the Amazon :: Yanomami Tribe

In the Amazon between Venezuela and Brazil, there is a tribe of native people known as the Yanomami. The Yanomami are an ancient people who are relatively unaffected by the civilizations and technology of today. They are a culture of hunting and gathering. The men are warriors that help to defend the tribe from other tribes, hunt for meat, and attack opposing tribes. The women stay home and cook, raise the children. Many people stay in the shibono, or community complex. The children are raised for a rough life, to be warriors. They learn that every injury suffered must be repaid. Men are the powerful gender, with all the rights. The relationships created by having in-laws are the basis for their power. If a favor is granted, it must be returned. A person is always supposed to be loyal to their family connections. A shaman is appointed to be the head of the tribe. Spirituality is a very important, everyday thing. The tribe is constantly at war with demons. There are ritual hallucinogens that are used for contact with spirits and the spirit world. The spirits control events in life which the shaman attempt to harness. The shaman gains the powers of these spirits by going to the spirit world, and he uses these to put curses on enemy shamans and heal tribe members from the vices of demons. Diseases and illnesses are causes by the demons and as such can only be heal by spiritual power. When someone dies their bones are burned and crushed into ash and consumed by the relatives. It puts a persons soul at peace to find a resting place within their family, it would be an abomination to bury them in the ground. Once this ceremony is finished the person is gone. Their name or person is never to be mentioned again. Enemy tribes fight and put curses on each other. To become allies again they must trade and negotiate. Then, the tribes combine together with a large peace celebration. They conduct a dance in ceremonial dress and test each others strength.

Investigating the inverse square law Essay

The intensity of the influence at any given radius, r, is the source strength divided by the area of the sphere. ‘ 1 The inverse square law can also be applied to gravity, electric fields, light and sound. In relation to electric fields, the electric force in Coulomb’s law follows the inverse square law: ‘If gamma rays are a form of electromagnetic radiation and undergo negligible absorption in air, then the intensity, I, should vary inversely as the square of the distance between the source and the detector. 2 Air acts as an almost transparent medium to ? -rays, and the intensity (rate of energy arrival per unit area) of ?-rays emanating from a point source varies inversely as the square of the distance from the source. 3 ?-rays fall into many distinct monoenergetic groups because of their variable energies which emanate from any particular emitter. The least energetic radiation will only pass through very thin foils, whereas the most energetic can penetrate up to several centimetres of lead. 4 As ? -rays tend to produce 10-4 times as many ion-pairs per unit length as ? -particles do, measurements are usually carried out using a Geiger-Mi ller (G-M) tube. 5 G-M tubes are widely used for detecting radiation and ionising particles. The anode is kept at a positive potential and the cathode is earthed. The tube may also have a thin mica end window. 6 When radiation enters the tube, a few electrons and ions are produced in the gas. If the voltage is above the breakdown potential (The minimum reverse voltage to make the diode conduct in reverse)7 of the gas, the number of electrons and ions are greatly multiplied. The electrons are attracted to the anode, and the positive ions move towards the cathode. The current flowing in the high resistance resistor (R) produces a pd which is amplified and passed to a counter which registers the passage of an ionising particle or radiation through the tube. 8 The tube cannot be filled with air as the discharge persists for a short time after the radiation is registered. This is due to electrons being emitted from the cathode by the positive ions which arrive there. Instead, the tube is filled with argon mixed with a halogen vapour which quenches, reduces the intensity, the discharge quickly, ensuring that the registered radiation does not affect the recording of other ionising particles. When the G-M tube is detecting one particle, if another enters the tube it will not be detected. This is known as dead time; the average maximum being approximately 90 microseconds. 9 Because this number is so small, it can justifiably be ignored for this experiment. Background radiation must be taken into account when taking readings from the source. Background radiation primarily comes from cosmic radiation and terrestrial sources. 10 This radiation will affect the count and must be corrected. The level of this radiation varies with location and must be measured before conducting the experiment. N0e-? t so ? = gradient/ N0e-? t Safety Precautions: To ensure the utmost safety before, during and after this experiment, some guidelines should be followed:  Food and drink should not be consumed whilst in the same room as the source Food items should not be stored in the same room as the source. The source should only be handled with long handled source handling tongs, and as little as possible   Hands should be washed thoroughly after contact with the source If in contact with the source for an extended period, it is recommended that a monitoring badge is worn   As the source will radiate in only one direction, it should not be pointed at anyone   The source should be locked away in a lead lined box when not in use   Open wounds should be covered securely. Protective gloves should be warn when handling potentially contaminated items Errors: To reduce the possible errors within the experiment, an optical bench will be used to ensure that the G-M tube and the source are properly aligned throughout, as the source radiates in one direction, the alignment must remain standard. Also, for small distances, specifically the distance d0 which is the distance the source is from the opening of the holder plus the distance of detection from the window in the G-M tube, vernier callipers will be used to hold as much accuracy as possible. Vernier callipers read to fractions of a millimetre, making them much more accurate than other measuring devices. Other distances, such as distance d, can be measured with a metre rule as the distances are larger which decreases the possible error in measuring. There will also be the error of human reaction times from observing the final count and pressing the stopclock. To ensure accuracy, practise using the stop-clock and count switch until reasonably consistent results can be obtained. Preliminary Work: To decide on an appropriate voltage to use, the G-M tube and source set-up should be tested. Place the source approximately 10 cm from the window of the G-M tube and increase the voltage slowly, until the count rate stops changing dramatically. Plot a graph of the count-rate, C, against EHT voltage, V. Record the voltages V1 and V2 between which the rate of counting does not vary too much. If the rate of counting begins to rise after remaining much the same for a range of voltage do not raise the voltage any higher or the tube may suffer damage. 14 The optimum operating voltage will be halfway between the voltage where the plateau begins and the voltage where it ends. To decide on the range of distances used, the source was moved close to the window of the G-M tube and was moved back slowly until the scaler could count adequately (5 cm). This is the smallest distance that will be used. To find the other extreme, the source was moved back until the count rate fell to a low value, but could still provide adequate results (35 cm). From these preliminary results I have decided to time for 10,000 counts at 5 cm from the source, 5000 counts for 10cm from the source, and 1000 for 15 – 30cm. This is because any higher values will take considerably longer to measure. I will take three readings from each, as radioactive decay is a random process and it would be unlikely for more than three readings to be similar. An average will be calculated from the three values and the reading for the background radiation will be subtracted to find the corrected count rate. Equipment: Geiger-Mi ller tube of i sensitive type. Decade scaler with variable EHT supply   Sealed cobalt-60 source – sealed to prevent contact with the source and to prevent isotropic radiation   Long handled source handling tongs – to prevent contact with the source Optical bench with source holder – to ensure constant alignment   Stop-clock, readable to at least two decimal places Vernier callipers – to measure the distance d0 to a higher level of accuracy   Metre rule – to measure the distance d Diagram: Where:   B is the optical bench with source holder, H   G is the Geiger-Mi ller tube   S is the decade scaler with variable EHT supply. R is the sealed radioactive source, cobalt-60 Cobalt-60 will be used as the gamma source as it is easily produced, by exposing natural cobalt to neutrons in a reactor, and therefore easy to acquire. 15 It also produces ? -rays with energies of 1. 17 MeV and 1. 33 MeV. Method: 1. Clamp the G-M tube to one end of the optical bench and attach it to the input socket of the scaler 2. Set the variable EHT voltage on the scaler at a minimum and turn it on, allowing a few minutes for the scaler to warm up 3. Change the variable EHT voltage on the scaler to the value found through preliminary work and set it to count pulses from the G-M tube. 4. Start the stopclock and measure the background radiation for an adequate length of time, e. g. 25 minutes, as background radiation is variable 5. Place the holder containing the ? -source at 5. 0 cm from the window of the G-M tube 6. Start the stopclock and stop after 10,000 counts are registered. Record this value and repeat twice 7. Move the ? -source to 10. 0 cm from the window of the G-M tube and repeat procedure 5, instead only counting 5000 counts 8. Move the ? -source to 15. 0 cm from the window of the G-M tube and repeat procedure 5, instead counting only 1000 counts 9. Repeat procedure 7 for sets of 5. 0 cm until a distance of 30. 0 cm is reached 10. Tabulate these results and find the average count rate for each distance 11. Evaluate 1/(d + do)2 12. Using the recorded value for background radiation, evaluate the corrected count rate for each distance 13. Plot the graph of corrected count rate against 1/(d + do)2 1 http://hyperphysics. phy-astr. gsu. edu/Hbase/forces/isq. html 2 Essential Pre-University Physics’ – Whelan & Hodgson, page 953 3 ‘Essential Principles of Physics’ – Whelan & Hodgson, page 472 4 ‘Essential Principles of Physics’ – Whelan & Hodgson, page 472. 5 ‘Essential Principles of Physics’ – Whelan & Hodgson, page 472 6 http://www. imagesco. com/articles/geiger/03. html 7 http://en. wikipedia. org/wiki/Breakdown_voltage 8 ‘Essential Pre-University Physics’ – Whelan & Hodgson, page 406 9 http://www. imagesco. com/articles/geiger/03. html 10 http://en. wikipedia. org/wiki/Background_radiation 11 ‘Advanced Level Practical Physics’ – M Nelkon & JM Ogborn, page 218 12 ‘A Laboratory Manual of Physics’ – F. Tyler, page 269 13 http://en. wikipedia. org/wiki/Cobalt 14 ‘Advanced Level Practical Physics’ – M Nelkon & JM Ogborn, page 212 15 http://en. wikipedia. org/wiki/Cobalt. Source: http://en.wikipedia. org/wiki/Geiger-M%C3%BCller_tube The anode is a central thin wire which is insulated from the surrounding cathode cylinder, which is metal or graphite coated.

Captial Punishment

Captial Punishment The justification of capital punishment has been an on going debate for quite sometime. As in the case of any argument theirs two sides too each argument. In this particular argument "society's self defense" essay by Amber Young the opposed battle the idea of capital punishment and think that overall its unjust and falls under cruel and unusual punishment.Amber Young's evaluations on the issue of capital punishment reaches out to everyone and leave a trembling thought in ones mind. The thought or picture left is the number of helpless innocent victims that were brutally killed by Ted Bundy. This picture alone lets one feel no pity or remorse for Ted bundy. This essay clearly refutes the opposed arguments and brings in evidence to support her reasoning. The majority of her arguments are strong though in some of her reason's there could be a stronger persuasive voice in convincing the readers one way or the other.An ad from the Ecologist Green Party in Mexico pro...In examining the dea th penalty, this particular argument is trying to justify the death penalty through the case of Ted Bundy; Young uses good evidence and support giving a particular example of what happened when the death penalty was not in order. Young claims that Bundy had escaped twice from prison. From Bundys escape he was able to rape and murder six innocent victims, not including the previous thirty-two victims. If Bundy was only sentenced to death at least six people's lives could have been saved.(32-33) Young then furthers her reasoning showing the loop holes in the judicial system explaining that if he is not sentenced to death he still has the possible means of either escaping again, or even the possibilities of parole. This appeals to the safety of our people and questions are true safety even if Bundy is behind...

LinkedIn Buzzwords from 2010

LinkedIn Buzzwords from 2010 As a companion piece to my Top 10 Grammar and Spelling Errors from 2010 Id like to share with you LinkedIns list of overused buzzwords in year 2010 LinkedIn profiles.   Is it even possible to avoid using these popular words?   What a challenge for a LinkedIn profile writer! Sometimes words are overused because they work.   Its an ongoing challenge to stay ahead of the curve, and to stay grounded enough in accomplishments and concrete facts that even if these buzzwords appear, they do not come across as trite or cliche. The most overused words varied by country.   Heres the list in the United States: Extensive experience Innovative Motivated Results-oriented Dynamic Proven track record Team player Fast-paced Problem solver Entrepreneurial I challenge you to spot these words in your profile and find other ways to describe yourself and your accomplishments.   And I promise if we work together on your LinkedIn profile, we will find ways to avoid using most if not all of these words.   What a great way to make your profile stand out! Did you make changes to your profile based on this tip?   How did your writing transform?   Please share in the comments section! Category:Archived ArticlesBy Brenda BernsteinJanuary 30, 2011 2 Comments Paul Novak says: February 2, 2011 at 3:23 pm Oh no. Oh no no no! No the marketer speak, anything but that! Seriously, that is ONE thing I have avoided like the plague. If I see someone use synergistic one more time Im going to blow an artery. I have found that clients dont care one bit out how well your profile conveys your knowledge of marketing jargon. Once connected and communicating, they want to talk in terms that are easily understood and as casual as possible. They want a human being, not a marketing machine. If anything, Id suggest people simply lighten up and put more of themselves into their profile rather than worry about how they can jazz it up. You CAN be professional and candid at the same time. Log in to Reply The Essay Expert says: December 19, 2011 at 11:58 pm Love this comment Paul and I dont know how I missed it when you posted in February! YES you can be professional AND candid. I once wrote in a college students resume summary, Plays well with others. She got many interviews. Log in to Reply

Large Animals Rescue Research Paper Example | Topics and Well Written Essays - 5000 words

Large Animals Rescue - Research Paper Example yday tasks ensured that their safety and well-being was a priority for humans, which led to the development of large animals rescue procedures from an early age. For example, the first equine ambulance in Massachusetts in 1876 was complete with a crude sling. Today, animals no longer play the part in our lives that they used to. Once one of the most pivotal parts of our work life, the American culture has now categorized them as mere companions. Although still a food source, they no longer hold a central role in our day. This decline led to decreased developments in rescue programs. One of the clearest indications would be the shutting down of Harvard University’s veterinary hospital. They were deemed unnecessary as cars were more readily available. However, that does not mean that animals still do not have some degree of dependence on humans. Even today, situations can arise where human assistance is crucial and today’s methods enable us to carry out a rescue with less risk and more efficiency. Due to the developments in technology, we can shift or even lift the animals. Before these developments, an owner who found himself in a predicament where their horse or other animal required human assistance, like if it was stuck in mud, would be forced to seek out help from friends and neighbors alike in order to get the horse out. Back then, the tools of choice being ropes, winches or tractors, there were chances of injury or even the death to the owner and the animal especially without the training that was required to carry out the rescue. However, such events, though not a common occurrence, are still a possibility today. On the other hand, many owners are more likely to call the police with the conjecture that the authorities will be able to handle the situation effectively. An informal survey by Technical Large Animal Emergency Rescue of law and fire service personnel by the authors uncovered that only a meager 5% have basic knowledge about the handling of

Quantitative Easing Essay Example | Topics and Well Written Essays - 1500 words

Quantitative Easing - Essay Example Quantitative easing has policies that when well implemented can result to reduction of systematic risks and improve market confidence. Consequently, it can contribute to higher inflation than desired in case policy makers overestimate the amount of easing required (Gibbons, 2011:224). This essay will seek to explain the extent in which the practice of quantitative easing threatens the independence of policymakers. Quantitative easing is another bank bailout. Money created in form of promissory notes or bonds and is available to only those banks that have received the quantitative easing (Biefang-FrisanchoMariscal, and Howells, 2011:98). When the rate of interests is high, there is an alternative method of influencing the price of money circulating in the economy. This alternate solution is quantitative easing whose aim is to lower the rates of interests affecting companies and households where the central bank takes the most important step, QE, by generating new money for use in an e conomy. Therefore, quantitative easing, dubbed printing money, assumes the definition of unconventional monetary policy acquired by the central banks in view of stimulating the economy at times when the conventional monetary policy fails. ... 2012). These unconventional measures had principle element in the United Kingdom whereby, their policy was to purchase assets with finances from the central bank, in short, quantitative easing (Howells and Hussein, 1997:378). Between March 2009 and January 2010, there were more than 200 billion Euros purchases of assets. Overwhelmingly, this amount comprised of government securities that ended up representing 14 percent of the annual Gross Domestic Product (Howells, 2010:314). The motivation and implementation of these central banks’ asset purchase had significant economical impacts and according to the Bank of England, quantitative easing made considerable uncertainty regarding magnitudes of the UK’s financial market (Douglas, 2011). Recently, the growth of broad money slowed dramatically within the economy of the United Kingdom since when recession commenced. Indicators of the recession were in part things like reduced borrowing by households and companies. Presumably , the Bank of England had to practice quantitative easing on behalf of Monetary Policy Committee in order to offset the UK’s economy from this weakness (Joyce, 2010). This practice boosted huge sums of money holdings into the economy. However, it threatened the independence of the policymakers since there is documented evidence from the monetary data depicted that the asset purchase program led to an increase in prices of assets (Biefang-FrisanchoMariscal, and Howells 2011:102). In addition, it ultimately contributed to increase in nominal demand in the UK’s economy making other evidence from other financial markets corroborative (Ellis, 2009:31). In 2009, the Monetary Policy Committee made a stern decision of making the economy of the United Kingdom an elaborate market with

Team Organizational Style of Fisher and Paykel Essay

Team Organizational Style of Fisher and Paykel - Essay Example This aspect was highlighted by Imai (1997) in his approach when he highlighted the importance of the shop floor or the teams working on the industry floor in ensuring that continuous improvement takes place within an organization. The advantages of employing such lean manufacturing processes through the Kaizen approach has also been explained by Wilson (2005). Â  Once the new teams were developed, they have engaged actively in the team building process. The changes that occur were in terms of additional time spent in communication skills and team building, followed by activities that were focused on the improvement of work performances and promoting team goals and a common understanding. The goal of the process was to bring about changes in a positive manner through the application of inspiration and communication developed among team members. Â  This process is summed up in the Kaizen approach to organizational behavior. The Kaizen philosophy has been defined as "a means of continuous improvement in personal life, home life, social life, and working life. At the workplace, Kaizen means continuing improvement involving everyone—managers and workers alike. The Kaizen business strategy involves everyone in an organization working together to make improvements without large capital investments." (Imai, 1986) Â  The organization took great pains to improve the teams because they recognized the importance of the shop floor to the success of the organization, as highlighted by Imai (1997).

New Hires Essay Example for Free

New Hires Essay Introduction Carl Robins, who is a new recruiter for ABC Inc., hired 15 new trainees with the intention to have them start on June 15th. As the start date gets closer, Carl discovers that all the trainees are not prepared to start their employment. Most of them do not have all the paperwork required for employment and none of them have visited the clinic for their mandatory drug screening. Carl needs to contact the new recruits immediately so they can complete all the prerequisites for employment. Also, Carl needs to get in contact with someone for more training on the applicant hire and training process. Background Carl Robins is a new employee with ABC Inc. He has only been with the company for six months and has just experienced his first hiring process. Carl hired 15 new employees thinking they would be able to go through training on June 15th and begin working sometime in July. After Memorial Day, Carl was reviewing all the paperwork for the new hires. He discovered that none of them are ready to start on June 15th. Some of the applicants did not have their applications completely filled out and some of them were missing transcripts, also none of them had their mandatory drug screenings done. Furthermore, all but three of the orientation manuals were missing and he found out that the training room was booked all through June. Key Problems Some of the key problems are that the new hires are not prepared for their start date of June 15th. It is the responsibility of the recruiter that the new hires are completely ready for their start date and have everything they need in order to be successful in the company. The recruiter is responsible for the two main problems. The fact that Carl is a new employee himself  could rationalize the fact that none of the new hires are ready for their orientation start date. Alternatives A recommendation for Carl would be to search around his office for all the missing paperwork as it could have just been misplaced. Also, some of the new hires could have completed the drug screening he just hasn’t seen the results of them yet. However, he should only spend a few hours looking for the missing paperwork as time is running short. Another solution would be for Carl to set back the start date for the new employees since the training room is booked for the whole month of June. This alternative is not recommended however because it will set back the new hires a month; as they will not be able to start until August. Also, Monica is counting on the new employees starting in July. This solution would also be harmful because Carl is still new to the company and having to push the start date back a month because of a few mistakes he made would not look good in management’s eyes. Carl should also remind the new employees of the company’s drug policy and that if any of them were to fail the drug screening their employment would be terminated immediately. Carl could also push back the start date from June to July to give himself more time to prepare the paperwork, also the training room is booked for the entire month of June. He has the option to get in contact with all the recruits and assure that they get all the missing paperwork in and get to the clinic for their mandatory drug test. Not only do the new recruits need to take a drug test but they also need to pass the drug screening in order to be fully hired into the company. Also, Carl waiting until the last minute to review their paperwork added fuel to the fire and only made matters worse for everyone. If he reviewed all the applications ahead of time, it would have given him plenty of time to make sure all the paperwork was put together properly and all the testing was done. With this being Carl’s first time doing the recruiting process for this company; he might not be familiar with the rules and hiring process itself. Carl seems to be the root cause of the new hires not being ready for their start date of June 15th. Proposed Solution Carl should contact all new hires immediately to make sure that all the requirements for the company are met and that all the new hires are prepared  for their start date before it approaches. Monica is really counting on these new recruits beginning their work in July and not just starting their training in July. If the date of orientation had to be pushed back, it would reflect poorly on Carl and he might get in some trouble with management over it. Recommendations Apparently Carl was not clear on all the hiring procedures of a recruiter. It is recommended for Carl to get retrained on the hiring and training process of new recruits. Getting retrained will hopefully ensure that this problem never happens again. It is also recommended that Carl talk to Monica about a new place to hold the orientation because the orientation room is already booked. Him and Monica need to sit down a figure out a place to hold the orientation that would be big enough to fit all 15 new hires. Conclusion In conclusion, careful research has been done on what alternative methods should be taken to ensure Carl get everything completed and ready for the new hires start date. A lot of thinking has gone into this paper and I have attempted to think of every possible solution to Carl’s predicament. It is apparent that Carl may have had too much to deal with for his first time dealing with the recruiting process to effectively complete his duties as a recruiter for the company. Carl should have had a checklist with his and made himself a timeline for when everything had to be completed. It was analyzed that Carl could either push back the date of the orientation to July which is not highly recommended and should only be used as a last resort, or Carl should immediately get in contact with the new recruits and help them get all the paperwork they need ready for the start date. If they can’t drop it off at the office Carl should ensure that it either be faxed or mailed to him before the start date of June 15th. If Carl had a checklist and ensured everything was filled out and completed beforehand he could have done his main job which is finding the best employees for the company.

Indias Foreign Exchange System: An Analysis

Indias Foreign Exchange System: An Analysis CHAPTER-2 LITERATURE REVIEW 2.1 Introduction: It is a fact that the currencies of different countries have different values that is based upon their actual economic and monetary strength. It is from this difference that the genesis of foreign exchange occurs. Foreign exchange can be termed as the act of matching the different values of the goods and services that is involved in the international business transaction process in order to attain the exact value that is to be transferred between the parties of an international trading transaction in monetary terms. Foreign exchange as an activity had started the day civilization and independent principalities got established in the world. But in those days it was a case of exchanging value in the form of transfer of goods and services of identical value that is commonly identified with barter system. Moreover the transactions were done on a one-to-one basis, and the terms and conditions were determined by the parties entering into such transactions. There was no universal system or rule that determined these transactions. In that way foreign exchange and international monetary system is a modern day trend that gained an institutional form in the first half of the twentieth century and has been developing since then. 2.2 Foreign Exchange: According to International Monetary Fund (IMF), Foreign Exchange is defined as different forms of financial instruments like foreign currency notes, deposits held in foreign banks, debt obligations of foreign banks and foreign governments, monetary gold and Special Drawing Rights (SDR) that are resorted to make payments in lieu of business transactions that is done by two business entities or otherwise, of nations that have currencies having different inherent monetary value (www.imf.org). Leading economist Lipsey Richard G.,1993 has mentioned that the foreign exchange transactions are basically a form of negotiable instrument that are resorted to deliver the cost of goods and services that form a part of trading transactions and otherwise, between business and public entities of nations of the global economy. Sarno, Taylor and Frankel, 2003 gives the definition of foreign exchange as denoting the act of purchase and sale of currencies of different economies that is performed over the counter for various purposes that includes international payments and deliverance of cost of various business transactions, where the value is usually measured by tallying the value of the currencies involved in the foreign exchange transaction with that of the value of U.S. Dollar. According to Clark and Ghosh 2004, Foreign Exchange denotes transactions in international currency i.e. currencies of different economies. In such transactions the value of a currency of one country is tallied and exchanged with similar value of the currency of the country in order to exchange the cost of a business transaction or public monetary transfer that is taking place between two entities of these economies. 2.2.1 Foreign Exchange Transactions: Transactions in foreign exchange are done through various types and various modes between different countries of the world. According to information mentioned in the Reuters Financial Training Series, 1999,TOD Transactions, TOM Transactions, Swap Rates, Spot Rates, Forward Rates, Margin Trading and Buy / Sell on Fixed Rates foreign exchange transaction methods are some of the commonly used methods that are widely used by global managers for their foreign exchange transaction activities. 2.2.1.1 TOD Operations: TOD Operations are foreign exchange transaction methods where the trader uses the exchange rate of the day on which the foreign exchange transaction order is to be executed. In other words TOP operations are commonly used in intra-day foreign exchange transactions. As a result they are commonly resorted to by speculators in foreign exchange transactions and those who general speculate on the rates of different foreign exchange markets of the globe. 2.2.1.2 TOM Operations: In this type of transactions the transaction process carried forward to the next day instead of it being an intra-day trading. TOM transactions rate is fixed on the day the transaction is signed, but the rate of exchange is agreed upon to be that of the next day. 2.2.1.3 SPOTTransactions: SPOT Transactions can be compared with TOM transactions because here also the exchange rate is fixed at a value that prevails over the exchange rate of intra-day trading of shares. But SPOT transactions have been separated as a different category because unlike TOM transactions, SPOT transactions contracts are executed on the third day after the signing of agreement between the Bank and the client. 2.2.1.4 Forward Contract: Forward contracts are those exchange rate contracts where the currency conversion exchange rate agreement is decided at a certain rate at a time that is well before the date of execution of the exchange contract. In that way they are similar to TOM transactions. The only differ from them in the fact that these transactions are made for a long term i.e. generally for one year, and the parties involved in making this foreign exchange transaction deposit five percent of the contract value with the bank involved in facilitating the transaction at the time of executing the contract which is then returned to the client after execution of the exchange transaction. The need for depositing this amount is to secure the transaction against any loss due to market fluctuations. 2.2.1.5 SWAP: The greatest advantage of SWAP transactions is that the clients involved in the foreign exchange get prior information about the exchange rate of the currencies that are part of the transaction. In this type of transaction the bank first buys the amount of transaction form the client and resells it to the client after a few days after disclosing the exchange rate of the currencies involved in the transaction process. SWAP transactions are much sought after by traders because here they get to know beforehand the exchange rate of the currencies involved in the transaction process that helps them in avoiding fluctuations in market rate and gives them the advantage of determining the prices of goods, the nature of the currency market notwithstanding. . 2.2.1.6 MarginTrading: The key element of Margin trading is that any trader can opt for SPOT trading round the clock by going through the margin trading mode. The other key element of margin trading is that the traders can make deals with a minimal spread for a huge amount of funds by projecting fraction of the needed amount. In that way it is a unique form of global financial transaction where the threshold value that can be transacted through the margin trading mode is $ 100000 with bigger deals being multiples of $ 100000. But in order to deal in margin trading the trader has to make a security deposit of five recent of the contract value that has to be replenished from time to time in order to maintain the amount from which the probable losses from margin trading transactions are accommodated. 2.2.1.7 Buying/Selling on Fixed Rate Order: This is a mutual agreement between the buyer and seller of foreign exchange. Neither its rate nor its other terms and conditions are based upon actual conditions. Rather the deal is based keeping the mutual profitability of the buyer and seller intact where both of them get their desired amount. 2.3 Global Foreign Exchange Market: According to the table depicting the Triennial Bank Survey of Foreign Exchange and Derivatives Market Activity done by Bank for International Settlements (BIS)2007, as shown below the global foreign exchange market has an average daily turnover of over $ 2 trillion, which is an increase of around forty percent in terms of volumes . This rise in foreign exchange transactions it is observed has been due to rise in the volume of trading in Spot and Forward markets. This is indicative towards increase in volatility of foreign exchange markets around the world. (www.bis.org). Global Foreign Exchange Market Turnover Daily averages in April, (in billions $) Year 1989 1992 1995 1998 2001 2004 Spot Transactions 317 394 494 568 387 621 Outright Forwards 27 58 97 128 131 208 Swaps in Foreign Exchange 190 324 546 734 656 944 Gaps in Reporting (Estimated) 56 44 53 60 26 107 Total Turnover (Traditional) 590 820 1,190 1,490 1,200 1,880 Memo: Turnover (At April 2004 Exchange Rates) 650 840 1,120 1,590 1,380 1,880 (BIS Triennial Central Bank Survey, 2004) As observed by Jacque Laurent L.1996, Studies in foreign exchange point to the fact that the volume involved in foreign exchange transactions in the total markets around the globe has the potential to affect the overall functioning of the global financial system due to the systematic risks that are part and parcel of the foreign exchange transaction system. Most of the transactions occur in the major markets of the world with the London Exchange followed by New York and Tokyo Stock Exchange accounting for over sixty percent of the foreign exchange transactions done around the globe. Among these transactions the largest share is carried out by banks and financial institutions followed by other business transactions i.e. exchange of value for goods and services as well as dealers involved in securities and financial market transactions. According to the studies by Levi Maurice D., 2005, in foreign exchange transactions most of the transactions happen in the spot market in the realm of OTC derivative contracts. This is followed by hedging and forward contracts that are done in large numbers. The central banks of different countries of the world and the financial institutions operating in multiple markets are the main players that operate in the foreign exchange market and provide the risk exchange control mechanism to the players of the exchange market and the system where around $ 3 trillion amount of money is transacted in 300000 exchanges located around the globe. The largest amount of transactions takes place in the spot rate and that too in the liquidity market. The quotation on price in these markets sometimes reaches to around two thousand times in a single day with the maximum quotations being done in Dollar and Deutschemark with the rates fluctuating every two to three minutes with the volume of transaction for a dealer in foreign exchange i.e. both individual and companies going to the range of $ 500 million in normal times. In recent years the derivativ e market is also gaining popularity in OTC dealings with regards to the foreign exchange market. 2.4 Global Foreign Exchange Market Management Risks: According to the researcher Kim S. H., 2005, Foreign exchange transactions are identified by their connection with some financial transactions occurring in some overseas market or markets. But this interconnectivity does not affect the inherent value of the currency of the country which is determined by the economic strength of that country. This means that the inherent value of each currency of the world is different and unequal. So when the need arises to exchange the value of some goods or service between countries engaged in such activity it becomes imperative to exchange the exact value of goods and services. Considering the complexity and volume of such trading and exchange activity occurring in the global market between countries it is but natural that the currencies of individual countries is subject to continual readjustment of value with the currency with which its value has to be exchanged. This gives rise to the importance of foreign exchange transactions as a separate ar ea of study and thereby needs much focus for its understanding (Frenkel , Hommel and Rudolf , 2005). In addition to this it is to be realized that with the growing pace globalization and integration of global economic order there has been a tremendous increase in international business transactions and closer integration of economic systems of countries around the world especially between the members of WTO, that has led to the increase in economic transactions and consequent activity in international foreign currency exchange system (Adams, Mathieson and Schinasi, 1998). Added to this is the fact that the exchange value of currencies in the transactions is not determined by the respective countries but by the interplay of value of the currencies engaged in an international foreign exchange transaction and the overall value of each currency in the transaction prevailing at that time. In fact each country in the global economic order would want to determine the value of its currency to its maximum advantage, which was possible a few years ago in when the countries used to determine the value of their currency according to the existing value of their economy. The individual countries till the early nineties used to follow a policy of total or partial control over the exchange value of their currency in the global market. At the same time there also were a group of countries that followed the policy or system in determining the exchange value of their currency i.e. left it to the interplay of global economic activity where the value was determined by its economic performance. The currencies of countries that provide full or partial amount of control in the international exchange value of its currency are known to follow a Fixed Rate whereas the currencies of countries that allow its currency to seek its inherent value through its performance in the global economic system are termed as following the Floating Rate of foreign exchange conversion mechanism. Though lo gically both the type of mechanism of foreign exchange face the effect of exchange rate fluctuations and consequent volatility in rate it is the currencies having a floating rate that are continually affected by the fluctuations in exchange rate in the global market when in the case of currencies with a fixed rate it is more of a controlled and regulated affair (Chorafas Dimitris N., 1992). 2.5 Foreign Exchange Risks Prevailing in the Global Market: Risks related to the exchange rate of a currency in the global market as has been mentioned, occurs due to the interplay of inherent value of each currency of the respective countries that are part of the global financial mechanism. Risks related to foreign exchange come into picture and are also inevitable in this world marching towards increased interaction due to globalization. The risks will occur due to business interaction and consequent exchange of value for goods and services. According to Kodres LauraE., 1996, the risks related to foreign exchange occur when there is increased interaction between the currency of a country with that of other countries in the international market and that too if the currency has a floating exchange rate. In that case the value of the currency is continually affected by its business and financial performance. This relation with other currencies in the market affects it during the time when the need arises to exchange it with another currency for settlement of financial transaction in some business or financial purposes and gives rise to various types of risks. The prominent risks associated during this situation are Herstatt Risk, and Liquidity Risk. 2.5.1 Herstatt Risk: Herstatt risk is a risk that is named after a German Bank that got liquidated by the German Government in the seventies of the last century and made to return all; the claims accruing to its customers. This is because its creditworthiness was affected and it could not pay the settlement claims to its customers and also on behalf of its customers to their clients. It is basically connected to the time aspect of foreign exchange value claim settlements in which the foreign exchange transactions do not get realized as the bank loses its ability to honour the transaction in the intervening period due to some causes. In the particular case the German bank failed to honour the financial settlement claims of its clients to their counter parties that were to be paid in values of U.S Dollars. The main issues that arose were regarding quantifying the amount to be delivered and the time of the transaction process due to the two countries financial systems being located and working according to different or separate time zones. This case has established a phenomenon in foreign exchange market where there may erupt situations in which the working hours of banks located in different time zones may never match with each other leading to foreign exchange settlement transactions getting affected during the mismatch of the two banks closing and opening time. In fact the Alsopp Report that studied this phenomenon in detail said that though the foreign exchange transactions are made in pen and paper on a single day the actual transfer of value takes place within three to four days. And with the exchange value of currencies operating in the international market always remaining in a state of flux they either get jacked up or devalued. In either case it affects the clause of transactions that was decided on an intra-day rate, as the value of both the currencies in the international market has changed during these days. 2.5.2 Risks related to Liquidity: There can crop up different problems related to the banking systems operations and dynamics i.e. in both technical and management systems as well as inability in terms of volume of available liquidity strength or in mismatch in tallying of time etc; that can affect the capacity of banks to honour foreign exchange transactions in terms of transfer of liquidity. These types of risks are being commonly witnessed in newly emerging economies that are being unable to cope with the sudden surge in volume of global business transactions thereby leading to exchange rate settlement and payment delays, outstanding payments and dishonouring of financial commitments in the exchange rate transaction market. 2.5.3 Financial Repercussions: According to the Studies in foreign exchange related risks by Dumas and Solnik, 1995 aver that risk related to transactions in foreign exchange have increased with globalization and the rise of global economic integration process with the countries getting affected in relation to the volume of their transactions in the global financial and business marketplace. This is because the market is now more oriented towards market value driven convertibility of currencies that is influenced by the global financial movements and transactions, and any independent transaction especially of transnational and multinational companies; will automatically affect other transactions happening in the global financial marketplace (Klopfenstein G.,1997). However, according to another study by Gallati Reto R., 2003, these multinational and transnational companies are simultaneously being affected by the fluctuations in exchange rate of different currencies of the global market that is exposing their business operations in different global markets to exchange rate related risks especially due to difference in Spot and Forward rates and the inevitable fluctuations (Choi , 2003) that give rise to foreign exchange settlement related problems. 2.5.4 Remedies to Foreign Exchange Settlement Risks: As there risks that have cropped up in foreign exchange transactions due to increase in volume and frequency of transactions mainly as a result of globalization so, also there have come up remedies to minimize the risk related to adverse conditions in foreign exchange transactions. The Bank for International Settlements (BIS) in one of its studies in 1999 has said that settlement of claims is the most predominant risk that is related to foreign exchange transactions, especially the speed with which these transactions are materialized and the roadblocks that they may face in the process due to tremendous increase in volume of foreign exchange transactions that cannot be cleared in expected times. The solution to these risks according to the study is to simultaneously clear transactions on either side i.e. for both the parties side so that they simultaneously give and receive payments at the agreed rate of exchange. This would solve the problem of extended time of actual payment when the rate of exchange fluctuates, thereby creating problems for both the parties. This arrangement is related to deals being processed simultaneously, which requires the concurrence and common cause of both the parties. This is because the party that is expecting a hike in value of it s currency may not agree to such a proposal. In that case there should be some law or arrangement that would make it mandatory for both the parties to settle their intra-day payments on that day itself so that there is no scope left for speculation by them. According to the study, such arrangements have been made in USA and Europe where systems like Fedwire and Trans- European Automated Real-Time Gross Settlement Express Transfer (TARGET) have been established. Fedwire facilitates payments in foreign exchange transactions under the mode of Real Time Gross Settlements (RTGS)and TARGET facilitates intra-day transfer of foreign exchange between parties of member countries of Europe on the same day itself. But, for simultaneous release of funds by both the parties and the intra-day settlement of claims to succeed it is imperative that the member countries of the global economic system should come together have concurrence on these issues. This is because all said and done the foreign exchange transaction related rules and laws are still governed by the respective countries. And most of these countries are reluctant to make any headway in linking their currency system to the global currency system for speedy disposal of foreign exchange transactions for fear that such a move would expose their currency end financial system to the baneful effects of risks and volatility of global foreign exchange system (Hagelin and Pramborg, 2004). At the level of international trading corporations there has been initiated some steps whereby they have formed a private arrangement known as Group of Twenty. They are a group of twenty internationally acclaimed global clearing banks who have formed an system called the Global Clearing Bank that acts as a connection between the payment systems of different countries and verifies international foreign exchange transactions in order to simultaneously satisfy both the parties regarding authenticity of the process of transaction. The thing is that this system puts a high amount of strain on the financial and foreign exchange system as well as reserves of individual countries along with requiring them to bring about some amount of commonality between the financial rules and regulations of individual countries which is easier said than done. All the same the establishment of Bilateral Netting System and Multilateral Netting Systems as well as of Exchange Clearing House (ECHO) are trying t o facilitate foreign exchange transactions and minimize the inherent risks involved (McDonough ,1996). 2.6 Indian Foreign Exchange System: 2.6.1 Historical Background: The historical background of foreign exchange system in India was a saga of excess control and monitoring with even minor transactions being made to undergo the rigorous scrutiny of concerned government authorities to avoid any risks associated with such transactions and save the scarce foreign exchange reserves from being frittered away in some transactions considered unimportant or anti-national by the government. The Foreign Exchange Regulation Act (FERA) that was enacted in 1947 and made more stringent in 1973 was the embodiment of the prevailing sentiment of the governments of those days, which was to completely regulate and control all the foreign exchange transactions and protect the foreign currency reserves. (Mehta, 1985) All these changed in the nineties of the last century with the opening up of Indian economy in 1991 in keeping with the recommendations of the High Level Committee on Balance of Payments set up under the chairmanship of Dr C. Rangarajan by the Ministry of Finance, Government of India and subsequent entry of India into World Trade Organization (WTO) in 1994. This was preceded by the liberating of current account transactions and establishing full convertibility of current account transactions in 1993. In 1994 also the Government of India accepted Article VIII of Agreement of the International Monetary Fund that established the system of current account convertibility and the exchange value of rupee came to be determined according to the market rates with only the convertibility of capital account being under the control of the government (Krueger,2002) as the Tarapore Committee on Capital Account Convertibility of 1997 (Panagariya A., 2008) suggested the government to keep adequate sa feguards before allowing the convertibility of capital account to be determined according to the market forces as there was need to consolidate the financial system and have an accepted inflation target before such a venture. The Tarapore Committee also suggested that the legal framework governing the foreign exchange transaction system in India also needs to be modernized before going for total convertibility of the capital account due to which the Government repealed the FERA Act of 1973 and promulgated the Foreign Exchange Management Act (FEMA) in 2000. This new act did away with the system of regulation and control and established a system of facilitation and management of foreign exchange transactions thereby promoting all the activities related to foreign exchange transactions. The most important thing that was done by FEMA was to recognize violations or mistakes in foreign exchange transactions as a civil offence instead of a criminal offence as was done by FERA. FEMA also shifted the responsibility of proving the violation or mistake in foreign exchange transaction and related rules from the prosecutor to the prosecuted. And if the prosecuted was proved guilty he or she was to pay only monetary fine or compensation instead of being jailed as was the earlier provision under FERA. FEMA also simplified many of the rules and notified specific time frames for delivering judgments related to violations of foreign exchange rules and regulations and provide rules for establishing special tribunals and forums to deal with such cases. Th e compounding rules were also made less stringent and all matters related to compounding rules were notified to be dealt by Reserve Bank of India (RBI) instead of the previously assigned Enforcement Directorate. RBI was made the designated Compounding Authority in all related matters. Only the cases involving hawala transactions were left from its purview As per Mecklal and Chand