President Of US Essays - Heads Of State, Titles,

Leader of US The President of the United States - this title has come to gain so much respect, as it is considered the most impressive chosen official on the planet (World Book). A portion of America's most recognized men were once presidents, and we review such incredible names as George Washington, Abraham Lincoln, Franklin D. Roosevelt, and John F. Kennedy. This esteemed position isn't something one is simply given, and when one acquires it, it is extremely difficult work. In this paper, I will help represent the job of the President, and his/her effect on our American Government. The situation of President was made during and following the Revolutionary War under laws called the Articles of Confederation. The name itself originated from the first name for the main official who directed congress. The primary man who had taken this position was George Washington, whose name each American knows about. To the position, Washington brought extraordinary fortitude, notoriety, and insight (Schlesinger, 21), furthermore, made a kind of inheritance for those after him to follow. The heritage was followed, and extended with men who deciphered the constitution in new manners, furthermore, expanded the intensity of the administration. Presidents, for example, Thomas Jefferson, Andrew Jackson, Abraham Lincoln are instances of this. As America turned into a world power, the President was given more force. Men like Theodore Roosevelt, Woodrow Wilson, FDR, and John F. Kennedy at that point utilized the situation to propel the opportunity of our nation, and empower the improvement of our brains and spirits. As time passed, rules and guidelines were made to guarantee the President's activity was for the wellbeing of this nation. For example, to become President, one must pass some specific lawful capabilities set by the Constitution. The President must be 35 years of age, have lived in the United States in any event 14 years, and be a characteristic conceived resident (World Book). These capabilities were set as a methods of sifting through certain competitors. To serve this country productively, our progenitors accepted that you should be more established, and of American legacy. These rules were made in assurance of the government assistance of our nation. With the twenty-second change came the breaking point on the President's expression of office. Prior to this, a president could be in office as long as the individuals chose him, for example, Roosevelt, who remained in the White House from March 1945 to his demise in April 1945. The breaking point set up now is that no president can be chosen for Presidentcy more than twice, and no one who has served over two years of another person's term can be chosen more than once. Another set standard is the compensation of the President. As built up by congress, the President gets $200,000 every year, excluding the $50,000 the CEO additionally gets for costs, remittances for staff, travel, and upkeep of the White House. Subsequent to leaving office, the President fits the bill for an essential annuity. Starting at 1990, a recently resigned president would get a powerful annuity of about $138,900 yearly, furthermore, utilization of office space, staff, and mailing costs. Bereft companions of previous Presidents get a benefits of $20,000 per year. The President is utilized by the official branch, of the three branches our legislature was separated into. This branch comprises of the Executive Office, 14 official divisions, and around 75 free offices. Altogether, the official branch has about 3.75 million representatives. The official office legitimately serves the president, for example, the President's doctor, secretaries, and various close powerful assistants furthermore, offices. The activity of the official offices is to legitimately manage the government, and the free offices' main responsibility is to direct the government programs in numerous fields. The President is the head of this branch. The just jobs the constitution recognizes are those of boss director of the country and authority of its military. Be that as it may, court choices, customs, laws, and different advancements have enormously extended the President's obligations and forces (World Book). After these 200 years of advancement, the President's activity can be portrayed in seven names: Chief Official, Commander in Chief, Foreign Policy Director, Legislative Leader, Gathering Head, and Chief of State. The first on the president's resume, the Chief Official has four fundamental obligations: to implement government laws, create administrative strategies, set up the national financial plan, to select government authorities. The following title a President must fill is Commander in Chief. To do this, the President is expected to safeguard the nation during war-time and to keep it solid during peacetime (Bernstein,11). Just the president

Accidental Buddhist Essay

I’d never knew about this book I began this class. I’ve consistently been keen on the nature and customs of various societies in different nations. That might be one reason why I took this class. I accept another explanation is that I had just taken Western Religion and needed to find out additional. This book didn’t truly flash my enthusiasm from the outset however after I got to perusing it I appeared to prop up back to it and understanding more. In the book the writer Dinty Moore takes a year and starts to contemplate the move to Buddhism. He does this alongside a couple different Americans. Alongside some different things that he does he got to an exacting Zen Monastery and a free Theravada Center. Moore likewise talks with specialists and visits a couple of battling pad creators. The creator gets the outrageous respect and joy of having the option to ask the Dalai Lama an inquiry when he goes to a discussion at Indiana University. This motivates his very own tad bit mission for significance after the God from his youth left him generally yet in addition left a feeling of anguish. His movements demonstrated worth while and regularly unassumingly told investigation of one keeps an eye on midlife journey for something that was profoundly absent. This book moves more towards the less obvious and un-advanced side of how Buddhism is beginning to channel into today’s American life. For Moore this fits superior to the shaved head, mantra reciting, and incense wreathed imagined that most Westerners have related with Dharma. The creator searches for something or someway for him to supplant what he needed from his youth confidence. In the book, he looks for direction towards standing up to and having the option to respond to the central issues that leave us disappointed and needing more data. My preferred pieces of this book were Chapters 6 â€Å"Catholic Boy Zen† and 9 â€Å"The Plain-Spoken Theravada. † In Chapter six the creator converses with Fr. Robert Jinsen Kennedy who is a Jersey Jesuit that consolidates Zen and Catholicism. Their wise discussion tended to the absence of development in manners that Catholicism has been introduced to the individuals who originated from his age. There were the last ones to get the pre-Vatican II rendition of the negative â€Å"thou shalt not† attitude which was joined with an improved variant of God and Jesus that was produced for a simple transmission to around a billion supporters. Moore recognizes that his present fascination towards Buddhism might be an eruption to the Catholicism from his adolescence. Indeed, even the Dali Lama’s own alert for Westerners not to over romanticize Buddhism instead of their â€Å"Judeo-Christian† mindset hits a nerve as the creator tunes in to the Tibetan head react in Indiana to his own inquiry. Inside Chapter Nine it uncovers a developing solace with Dharma. Moore goes to considerable lengths not to glamorize the individuals who adjust to Buddhism. Being all around read in this field his sources remain to a great extent imperceptible and he focuses on an open language free introduction that anybody can comprehend. The creator focuses on beating his â€Å"rock† with in, his opposition and his anxiety, his entanglement in the pattern of misery, and keeping his annoyance in. this is like numerous Irish Catholic guys of in any event a specific age and childhood. Everything that has occurred in his life has constrained him to search for what is absent and needing to discover increasingly about Buddhism. Moore endeavors to get over what penetrates our psychological propensities which he calls the â€Å"if only† delay of bliss. The creator looks at this to missing the sights and hints of a climbing trail in light of the fact that your hurrying down it anxious to wrap up. He likewise analyzes it to him driving down the interstate considering how the vehicles building brings down interruptions yet it additionally obscures any feeling of the journey’s own marvels and revelations. Something that challenge Mr. Moore to back off and acknowledge knowledge is his dread that forty-five years of work and the concern of twenty years over lost open doors will dash past him. The creator realizes without a doubt a couple of long periods of rehearsing Buddhism over a years’ time won’t welcome on astonishing enlightenments. Be that as it may, after he goes to a subsequent Zen retreat gets a brief look at more than he had to start with. He attempts as a go between to quietness the eager â€Å"monkey man† inside, before quieting down: â€Å"Maybe illumination is the point at which the monkey just observes the nightfall and when the dusk closes that monkey just glances at the stars. Something else Moore raises is that â€Å"You can’t moderate the cerebrum down with a couple of brief endeavors any more effectively than you can stop a speeding cargo train with a white picket fence. † To the creators shock he adjusts well to having the option to sit still. Despite the fa ct that there are no sensational changes throughout his life he develops more settled, increasingly impartial, and maybe become significantly more joyful. Rather than being a self-advancing excursion towards understanding this book winds up being tranquil. On the off chance that this book were found at the ideal time and in the correct mind-set it ought to be fulfilling to a patient and calm searcher. In any case, this could be a lot for the excited inquirers to deal with. Concerning whether God exists or not Moore understands that he isn’t going to stress to a lot over it. â€Å"If God does in actuality exist, I should carry on with my life as indicated by the principals of benevolence, empathy, and mindfulness. Regardless of whether there isn’t a God similar principals apply which is his summation of a close Buddhist point of view. † I as of late had the chance to take a quick trip and see Dinty Moore talk here at Sinclair. I adapted a considerable amount about him during his discussion beginning with that he was conceived in Erie, Pennsylvania. Something that I found out about him is that he considers writing to be Buddhism as being associated. While Mr. Moore was on his excursion to getting himself he went around the nation. I learned two parts of Buddhism are you can’t control outside viewpoints and you can control the response individuals have. He educated the gathering that came to see him talk that in the wake of composing the book he turned into a composing educator. He likewise let us realize that to him Buddhism and different religions have wide similitudes.

Blog Archive MBA Admissions Myths Destroyed I Am Too Old to Get into Business School

Blog Archive MBA Admissions Myths Destroyed I Am Too Old to Get into Business School We at mbaMission often receive panicked phone calls from applicants in their late 20s, asking if they are too old to get into business school. Why do so many candidates have this concern? Over  the past decade or so, several top schools have declared their openness to younger candidates and have even been courting them. Harvard Business School has welcomed “direct admits” (those entering immediately after completing their undergraduate degrees) and started the 2+2 Program to encourage undergraduates to consider deferred acceptance. Chicago Booth followed suit, launching the Chicago Booth Scholars Program, granting deferred admission to University of Chicago seniors, in addition to various Early Career Candidate programs to attract candidates with one to three years of experience. Although the Stanford Graduate School of Business does not publish the average age of its students, it does state that its students’ average work experience is four years. So, if you are an “older” candidate at 27, 28, 29, orâ€"dare we even write it?â€"30, should you even bother applying? First of all, we  must note that not all schools have jumped on the bandwagon with admitting younger candidates. Dartmouth Tuck, for example, states on its Admissions FAQ page that “in general,” it does not accept applicants with fewer than two years of work experience. The average work experience of students at the University of Virginia’s Darden School of Business is listed as four yearsâ€"meaning that the school typically does not accept direct admits, although the school notes on its website that it does not have an official minimum work experience requirement. Michigan Ross requires that students complete their undergraduate degree before applying, meaning that seniors are ineligible. However, if you are focused on a school that is open to younger candidates, you should still think logically about the situation: you cannot get any younger, so you can either self-select out of the application process or let the admissions committee read your application and make its own decision. Further, applicants should not confuse an openness to younger candidates with an aversion to older candidates. If you have something special to offer, you are still in the runningâ€"no secret cutoff is in play that would immediately eliminate you from the applicant pool. As we have written before, business schools are governed by self-interest. They want the best candidates out there! If you are among the best, your age will not be an obstacle. Share ThisTweet Admissions Myths Destroyed Blog Archive MBA Admissions Myths Destroyed I Am Too Old to Get into Business School We at mbaMission often receive panicked phone calls from applicants in their late 20s, asking if they are too old to get into business school. Why does this happen? Over  the past decade or so, several top schools have declared their openness to younger candidates and have even been courting them. Harvard Business School has welcomed “direct admits” (those entering immediately after completing their undergraduate degrees) and started the 2+2 Program to encourage undergraduates to consider deferred acceptance. Chicago Booth followed suit, launching the Chicago Booth Scholars Program, granting deferred admission to University of Chicago seniors, in addition to various Early Career Candidate programs to attract candidates with one to three years of experience. Although the Stanford Graduate School of Business does not publish the average age of its students, it does state that its students’ average work experience is four years. So, if you are an “older” candidate at 27, 28, 29, orâ€"dare we even write it?â€"30, should you even bother applying? First of all, we  must note that not all schools are on the bandwagon to admit younger candidates. Dartmouth Tuck, for example, states that “in general,” it does not accept students with fewer than two years of work experience. The average work experience of students at the University of Virginia’s Darden School of Business is listed as two to seven yearsâ€"meaning that the school typically does not accept direct admits. Michigan Ross requires that students complete their undergraduate degree before applying, meaning that seniors are ineligible. However, if you are focused on a school that is open to younger candidates, you should still think logically about the situation: you cannot get any younger, so you can either self-select out of the application process or let the admissions committees read your applications and make their own decision. Further, applicants should not mistake an openness to younger candidates as an aversion to older candidates. If you have something special to offer, you are still in the runningâ€"no secret cutoff is in play that would immediately eliminate you from the applicant pool. As we have written before, business schools are governed by self-interest. They want the best candidates out there! If you are among the best, your age will not be an obstacle. Share ThisTweet Admissions Myths Destroyed Blog Archive MBA Admissions Myths Destroyed I Am Too Old to Get into Business School We at mbaMission often receive panicked phone calls from applicants in their late 20s, asking if they are too old to get into business school. Why does this happen? Over  the past decade or so, several top schools have declared their openness to younger candidates and have even been courting them. Harvard Business School has welcomed “direct admits” (those entering immediately after completing their undergraduate degrees) and started the 2+2 Program to encourage undergraduates to consider deferred acceptance. Chicago Booth followed suit, launching the Chicago Booth Scholars Program, granting deferred admission to University of Chicago seniors, in addition to various Early Career Candidate programs to attract candidates with one to three years of experience. Although the Stanford Graduate School of Business does not publish the average age of its students, it does state that its students’ average work experience is four years. So, if you are an “older” candidate at 27, 28, 29, orâ€"dare we even write it?â€"30, should you even bother applying? First of all, we  must note that not all schools are on the bandwagon to admit younger candidates. Dartmouth Tuck, for example, states that “in general,” it does not accept students with fewer than two years of work experience. The average work experience of students at the University of Virginia’s Darden School of Business is listed as one to ten yearsâ€"meaning that the school typically does not accept direct admits, although the school notes on its Web site that it does not have an official minimum work experience requirement. Michigan Ross requires that students complete their undergraduate degree before applying, meaning that seniors are ineligible. However, if you are focused on a school that is open to younger candidates, you should still think logically about the situation: you cannot get any younger, so you can either self-select out of the application process or let the admissions committees read your applications and make their own decision. Further, applicants should not mistake an openness to younger candidates as an aversion to older candidates. If you have something special to offer, you are still in the runningâ€"no secret cutoff is in play that would immediately eliminate you from the applicant pool. As we have written before, business schools are governed by self-interest. They want the best candidates out there! If you are among the best, your age will not be an obstacle. Share ThisTweet Admissions Myths Destroyed Blog Archive MBA Admissions Myths Destroyed I Am Too Old to Get into Business School We at mbaMission often receive panicked phone calls from applicants in their late 20s, asking if they are too old to get into business school. Why do so many candidates have this concern? Over  the past decade or so, several top schools have declared their openness to younger candidates and have even been courting them. Harvard Business School has welcomed “direct admits” (those entering immediately after completing their undergraduate degrees) and started the 2+2 Program to encourage undergraduates to consider deferred acceptance. Chicago Booth followed suit and launched the Chicago Booth Scholars Program, which grants deferred admission to undergraduate seniors from all schools, in addition to various Early Career Candidate programs to attract candidates with one to three years of experience. Although the Stanford Graduate School of Business does not publish the average age of its students, it does state that its students have an average of approximately four years of work experience. So, if you are an “older” candidate at 27, 28, 29, orâ€"dare we even write it?â€"30, should you even bother applying? First of all, we must note that not all schools have jumped on the bandwagon with admitting younger candidates. Dartmouth Tuck, for example, states on its Admissions FAQ page that “in general,” it does not accept applicants with fewer than two years of work experience. The average work experience of students at the University of Virginia’s Darden School of Business is listed as four yearsâ€"meaning that the school typically does not accept direct admits, though the school notes on its website that it does not have an official minimum work experience requirement. Michigan Ross requires that students complete their undergraduate degree before applying, meaning that college seniors are ineligible. However, if you are focused on a school that is open to younger candidates, you should still think logically about the situation: you cannot get any younger, so you can either self-select out of the application process or let the admissions committee read your application and make its own decision. Further, applicants should not confuse an openness to younger candidates with an aversion to older candidates. If you have something special to offer, you are still in the runningâ€"no secret cutoff is in play that would immediately eliminate you from the applicant pool. As we have written before, business schools are governed by self-interest. They want the best candidates they can get! If you are among the best, your age will not be an obstacle. Share ThisTweet Admissions Myths Destroyed

Investigating Research Analyses And Implications Of False...

Investigating Research Analyses and Implications of False Memories for Eyewitness Testimony Emily Jane McVey Humboldt State University Abstract Eyewitness testimony is one of the leading pieces of evidence used to prosecute court cases. However, the human mind is vulnerable to numerous sources that can influence memory including interviewing dynamics (i.e. role understanding), vulnerability to misinformation effects, and repeated recall. Given the susceptibility of memory to these forces, eyewitness testimony is not as†¦show more content†¦Eyewitnesses are considered to have prime information due to their having witnessed the crime firsthand. Therefore many individuals conclude that eyewitnesses encode, or record like a camera,that specific event into their memories for later reporting (Douglass et al., 2004) However, contrary to initial thought, the human memory is highly fallible and does not necessarily preserve events as they occur into our long term memory (Oeberst Blank, 2012). There are numerous factors that may contribute to the development and retrieval of false memories (Oeberst Blank, 2012). These facto rs include: interviewing dynamics, comparing one’s recall of event with peers, age of the witness, time lapses between events and questioning, and misleading information (i.e. the misinformation effect) (Bruer Pozzulo, 2014; Chan LaPaglia, 2011; Douglass et al., 2013; Frenda, Nichols, Loftus, 2011; Oeberst Blank, 2012; Wilford, Chan, Tuhn, 2014). It is clear that in order to bolster the credibility of eyewitness identification, reforms are essential in order to preserve the accuracy of these witness’ memories. Some reforms have already been proposed like the cognitive interview (CI) (Frenda et al., 2011). However, as Clark (2012) asserts, suggesting reforms to the eyewitness institution in the court of law requires solid evidence in order to scientifically support provide these recommendations. Our search to find eradication for false memories may never

Bilingual Development A Perspective From First Language...

Starting Article Summary The starting point article I chose to focus on for this comparison was ‘The Debate on Maturational Constraints in Bilingual Development: A Perspective from First-Language Attrition’ by Monika S. Schmid. In her study and subsequent article, she wanted to see if there was a correlation between Second Language Learners (and their age of acquisition) and Native Fluency - in detail, whether or not they have a maturational constraint in reaching native fluency in grammar, morphology, and the like.The study compared 20 (German L1) long-term users of their second language (English), 20 advanced immersed second language users (German L2, English L1), and 20 monolingual, native German speaking controls. The bilingual†¦show more content†¦Summary of Second Article The second article I chose to use for this paper was ‘Phonological Similarity Judgements in ASL: Evidence for Maturational Constraints on Phonetic Perception in Sign.’. It was published in Sign Language Linguistics, Volume 15, Issue 1 in 2012. The study and article was completed by Matthew L. Hall, Victor S. Ferreira, and Rachel L. Mayberry. The purpose of this study and its subsequent article was to look at phonological processing in sign language and how the Age of Acquisition affects said processing. They looked at previous studies done on how signers (of American Sign Language) overdiscriminate - overdiscrimination is the ability to realise differences between two tokens drawn from the same side of the category boundary - and found that the amount they overdiscriminate depends on their Age of Acquisition.These studies also found that native signers were less sensitive to ‘within-category variation’ and that non-native signers and non-signing participant s (now referred to as naive participants) tended to make more within-category discriminations. These results shows that an earlier Age of Acquisition is linked to the learning of phonetic categories in sign phonology - something similar to phonetic learning in early spoken language acquisition. This in turn affects sign recognition and shows that non-native signers and naive participants usually tend to lean the same way

Computer Hardware Essay - 797 Words

Computer Hardware Assignment The Components of the System Unit Name: Jeffery L Jenkins  · The System Unit: Motherboard Navigate to: http://youtu.be/xcvMgWb-ufY View the video: Intel DP67BGB3 Desktop Extreme Board  · What processors fits into this motherboard? Intel 3, 5, 7  · How much memory will the motherboard support? 32 GB of DDR3  · List at least three different ports provided on the motherboard. sata, firewire, Ethernet, hd audio port, 8 2.0 usb ports, 2 3.0 usb ports  · How many PCI slots does this motherboard have? 7  · What would you do with the PCI Express slot on this motherboard? Install a graphics card  · Is audio capability built into this motherboard? Please describe. yes it is built in, which†¦show more content†¦Do you need by all memory from the same manufacturers? Look for the sticker that displays or look up the system and the kind of ram and the type for replacement or upgades. And you can buy memory from anyone as long as its compatible with your unit  · What are some brand names of memory modules? Kingston, crucial, etc,  · What are some of the different types of memory (RAM) mentioned in the video? Ddr, ddr2, sdram, edo, server  · Why do you install memory sticks in pairs? To take advantage of performance, dual platforms require the same sticks in pairs for best performance, otherwise the system will recongnize the lower number of ram.  · Expansion Slots and Adapter Cards Navigate to: http://www.youtube.com/watch?v=a0SgO8e8HmU http://www.youtube.com/watch?v=kp8vL70Jap4 View the video: Expansion Slots  · Where do you usually find expansion slots in the system unit? Built into the motherboard  · What kind of cards can be installed in the PCI slots? Expansion cards  · What types of slots might your PC motherboard have? Pci, agp, amr, cnr, isa, vesa Navigate to: http://www.youtube.com/watch?v=i60-u3JnLJoHYPERLINK http://www.youtube.com/watch?v=i60-u3JnLJofeature=relatedHYPERLINK http://www.youtube.com/watch?v=i60-u3JnLJofeature=relatedfeature=related[-0] View the video: Installing Add-on cards video lesson  · What types of expansion cards areShow MoreRelatedComputer Hardware935 Words   |  4 Pagess world nothing can be done without a computer, but upon a closer look, you will find that it is the hardware components and input and output devices that make a computer useful. What is it that determines the speed at which a computer can find a file? How do you get a report from your PC to the members of your next Board meeting? It is the hardware that is used with your computer that allows you to accomplish all of your business needs using your computer. Data input is the collection of rawRead MoreComputer Hardware Engineering1185 Words   |  5 PagesComputer Hardware Engineering Computer hardware engineers research, develop, and test computer systems and components such as processors, circuit boards, memory devices, and many more (Bureau of Labor Statistics). They design new computer hardware, create blueprints of computer equipment to be built. Test the completed models of the computer hardware that they design. Update existing equipment so that it will work will new software. Oversee the manufacturing process for the computer hardware. MaintainRead MoreComputer Hardware Assignment3019 Words   |  13 PagesCOMPUTER HARDWARE HIT 1403. Assignment 1 Bektemir Kassymov           Table of Contents INTRODUCTION ...........................................................................................................................3    Hard Disk .....................................................................................................................................5    History   of   hard   disks.   .................................................................................................Read MoreDesktop Hardware And The Computer1016 Words   |  5 PagesDesktop Hardware Would you know how to fix your computer if it crashed and started to malfunction? What if some parts were not working? Knowing desktop hardware if you own a computer is important. Say if one part of your computer is malfunctioning and you knew which part, you could easily replace that part if it is able to be replaced. The parts of the computer could save you money and time for yourself instead of purchasing a brand new computer. Floppy disks store a small amount of informationRead MoreComputer And Internet Technology : Computer Hardware1532 Words   |  7 Pages Computer and Internet Technology Computer Hardware A report for Geoff Wingfield By Joseph Key 9th December 2014 Contents 1.0 Introduction 3 2.0 Why Copper Tracks (Busses) Are Ultimately Limited In How Much Data Can Be Delivered By Them Per Second 3 2.1 Why Devices Such As Microprocessors Get Hot And Why The Heat Increases With Higher Clock Rates 3 2.2 Cost Of A PC Running 3 3.0 Describe How The Latest Technology Is Used To Optimise Its Operation For Speed 4 4.0 Cost Of Building ARead MoreEssay on Computer Hardware Engineering1442 Words   |  6 Pagespowerful. Computer hardware engineering is the designing, building, and testing of computer hardware and computer systems. Computer hardware engineers acquire a persistent and detail- oriented nature. Through their work, computer hardware engineers get a wide range of opportunity, but they are also loaded with seemingly endless work on their hands. Ultimately, computer hardware engineering provides a cause for innovative thinkers and creative designers, labeling it as a job worth pursuing. Computer historyRead MoreBasic Computer Hardware and Software1712 Words   |  7 PagesThe Basic Computer Hardware Central Processing Unit: The central unit is the basic part of the computer and includes all the main computer parts. It is the heart of the computer system. It is responsible for executing, or running the software. The software programs are translated into a series of codes made up of 1s to 0s that the CPU can understand. Every code means a certain operation should take place. A CPU has various discrete units to help it in these tasks for example there is an arithmeticRead MoreEssay on Computer Hardware and Software1482 Words   |  6 PagesIdentify hardware and software needed to secure your choice of networks against all electronic threats. Networking hardware is hardware that is used to help work stations connect to a server. Although there are many different kinds of hardware like bridges, network cards the networking hardware that I have chosen to use in within my company’s network are routers, firewalls and switches. Using both routers and firewalls will help protect not only wireless networks but also those networks that useRead MoreComputer Hardware Developments That Affect The Business Use Of Computers1011 Words   |  5 PagesQuestion Four What are several important computer hardware developments that you expect to happen in the next 10 years? How will these affect the business use of computers? Hardware is any type of computer system that contains circuit boards, ICs, along with other electronics. Hardware is categorized in two ways: external hardware and internal hardware. External hardware is the devices such as the keyboard, mouse, printer, speakers, and thumb drives. Internal hardware consists of items like the motherboardRead MoreAssignment On The Function Of Computer Hardware Components3953 Words   |  16 PagesAssignment brief – QCF BTEC Assignment front sheet Qualification Unit number and title BTEC Level 3 Diploma in IT UNIT 2 – Computer Systems Credit Value: 10 Course Code: (M/601/6630) Learner name Assessor name Dovydas Sabaliauskas Terence Wong Date issued Hand in deadline Submitted on 29 October 2014 9 November 2014 Assignment title U2_A1_P1P2P3M1D1 Computer systems components In this assessment you will have opportunities to provide evidence against the following criteria. Indicate

Impact of Social Networking in a Business-Sample for Students

Question: Discuss about the the impact of social networking in a Business. Answer: Introduction Social media is one of the platforms where most businesses are interacting with their consumers. The social media platforms include Facebook, Twitter, Linkedin, listorious, blogs as well as the YouTube. The social network has been of great advantage to the firms as it gives the business the opportunity to get feedback from the consumer as well as introduce their products.( Andzulis, 2012). Another advantage is that the social media platforms such as the face book page are the cost efficient and spread among a wide range of people over a short duration. However, one their limitation is that the information is seen over a short period then it is replaced with new posts. There are various public listed companies in Australia such as Telstra, Optus, and Virgin Australia that have been using the social media to enhance their firms. Project objective The primary goal of this research is the impact of social networking in a business where we will examine the benefits as well as the limitations of the social networks sites. With the technological advancement in various parts of the world, many companies have adopted the social networks to interact with their consumers. The social networks include the Facebook, twitter, LinkedIn among others Some of the companies in Australia such as Telstra have adopted the use of social media platforms to engage with their customers who have brought enormous profits. In this work, we will deeply examine the impact of the social network in Telstra as well as Virgin Australia. Data collection I visited various firms such as Telstra and Virgi Australia where I reviewed their financial reports since they started using the social media networking. I also interviewed the workers as well as their employees on the impact of social networking. Research questions From my research in Telstra company, Virgi Australia as well as the past written works the social media networking affects the performance of the business. Social media networking performance of the business Theoretical framework IV: social media networking: it is an online platform that various companies, as well as people, use to develop the social relationship with the customers or other people. The individuals in these platforms have the similar interests, real life connections as well as activities. They include the Facebook, LinkedIn, twitter, blogs among others. (Duggan, 2015). DV: performance: it involves the degree of achievement of an individual task that is examined through the companys income annually as compared to the previous years or the set standards. One may also use the total revenue parameter as well as the delivery of services to examine the performance of the business. (Paniagua, 2014). HI (correlational): social media networking, as well as the performance of the business, are positively related. Project scope Telstra firm adoption of social networking Telstra is one of the leading business in Australia which has greatly used the social media .the company uses the multiple social media platform in different ways, for instance, it uses the twitter in the consumer services. It is where the customer makes the inquiries and the service agents respond to them promptly. If the service agent cannot answer them, one can is direct to the department in charge of the issue. It also uses the Facebook page to display their general information, videos as well as in promoting their products. Telstra firm is viewed by millions of people where a wide range of information on their goods and services is displayed. Telstra is one of the companies that have significantly profited from social media by recognizing that one should engage in various platforms, as there are a variety of audiences. (Chugh, 2012) However the social media at times have a negative impact on business for instance when an employee gives out a negative feedback on the media platform . It may contribute to adverse sentiments from the consumers affecting the companys productivity. Social networking in Virgi Australia Another company that has used the social media platform in Australia is Virgi Australia. The social media has played a significant role in this company in marketing their products. One of the advantages of the social media platforms is helping in answering the multiple consumer questions. The social media helps in decreasing the number of consumer issues, as one can interact with a broad range of customers on the platforms. (Gran?ay, 2014). It also reduces the number of employee in the customer services, as one does not need to hire more employees in the call center. By examining this advantages, the company decided to establish more interactive social media platforms instead of coming up with, more call centers. They have engaged in media platforms such as Lithium since 2012. Below is one of the charts showing the interaction of this company with the consumers enhancing its productivity. Category 1: social media, page views per month Category 2: access via call per month With the increase of the views on the social media page, the company has significantly improved in providing services as well as getting more customers. It is because through the social media platform the company can market their product to a high number of people. However, in the social media platform can face a challenge of competition whereby all brand advertises about themselves. (Oboler, 2012). The Virgin Australia social media specialist conforms to this, but she says that the virgin Australia has still gained many consumers via the social media platforms. It is because mostly the consumers are the ones who get in touch with them on the social network platforms and they turn this to a great piece of story attracting more customers. Performance of Telstra Company The last year financial report shows that Telstra Company has earned significant profits after adopting the social networking. It is because the customer service has been significantly enhanced by the social networking platforms increasing the customers. The total income increased by about 3.6 % hence the company caught about 27 billion dollars. The companys net profit grew by 35 % to a 5.8 billion dollar taking in the share that was sold to Auto home the same years. The earning per share of Telstra Company annually augmented to 47.4 percent, which was a 10% increment. Due to this increment, the company has decided to increase their investment in digitization to three billion. Their aim of the expansion is to improve the customer service in the social network platforms as they have seen them to work in the previous year. Penn who is the companys CEO has said that it has increased the number of consumers on each of its products in the past year because of the social network platform. It is because the social network platforms have enhanced their customer service attracting many consumers. Telstra company started adopting the social media the social media platform since 2011 which has seen it grow over the years. In the following year 2012 after the adoption of the digitalization strategy, it had about 140000 live chats with its consumers. It also grew its social media workforce to 30 to fulfill its goals. The customers can make consultations as well as share the queries with the service agents in the media platforms hence the number of complaints has reduced. The telecommunication industry report shows that the number of allegations against Telstra has decreased from about 78600 to fifty five thousand five hundred . The primary contributor these is the improved customer service because of the social m edia platform.( Johnston, 2015.). Performance of Virgin Australia Since Virgin Australia adopted the social networking, it has also been improving its performance. For instance, in 2014 statistics show that it served about twenty million customers and in 2014 it served 22. 3 million earning a significant profit. The enormous rise has been attributed to the use of social networking which makes the company known by various people as well as the excellent customer service. In 2014, the company came up with the ideas lab, which is a business platform that has been helping the firm solve the problems. People come up with various ideas in the platform, and they get backing from the up to 1800 members on the crowd-sourcing tool. As such, the employees get more suggestions as well as ideas on how to tackle the Virgin Australia business issues. It has seen the improvement of Virgin Australia, which had a significant loss of 162 million in 2014 to just 49 million in 2015. It shows that the company is continuing to gain stability over time by increasing its c onsumers through social networking as well as improving their services. Literature Review Social networking is one of the great technological advancement that has been adopted by various companies. People have both the negative as well as the positive perceptions of social networking in business. Researchers have come up with different hypotheses where they link the social networking to the organization's brands. The researchers noted that the companies that have adopted the social networking had reshaped the organization of the brand. The reshaping further led to improved ways of working and increased the worker's satisfaction and productivity. The researchers measured the performance of the company due to social networking by carrying out interviews in various firms. After the research, they n noted that though the social networking has been undervalued the companies who have adopted them have reaped several benefits. Some of the benefits include increased productivity due to the improved communication as well as cooperation among the employees. The social networking al so makes the consumers, as well as the workers, feel like part of the organization even when they are not in the companys physical offices. The social networking has also enhanced the knowledge transfer in the organization increasing the productivity. Therefore, from the study, we see that the social networking is positively related to the companys productivity. (Bennett, 2010) The journal article claims that social media has been taken up by various companies which have contributed to their tremendous performance. The social media platforms that these companies are using to interacting with their consumers include the Facebook as well as twitter. The paper still adds that the companies display a broad range of user-generated content on these sites and they can get various views from their customers. The businesses can also undertake competitive analysis on the social media sites. One can get textual data on their competitors social media sites, which helps the company in decision-making. The researchers undertook an in-depth study on the use of the social media sites for competitive analysis. After the study, they noted that most companies were using multiple information found on their competitor's social media sites enhancing their services. Therefore, from the study, it is true to say that social media has played a vital role on the productivity of vario us companies. It has not only assisted in improving the customer services by increasing the interaction with the consumer but also in the competitive analysis. This paper hypothesizes that the proper use of social media, as well as social networking in the companies, has a broad range of benefits. From the 1980s, the internet became an international network and had considerably contributed to the success story of various organizations. The social networking such as Facebook has been used by different companies in advertising their products and services increasing the companys productivity. It is because through the social media networking the marketing of the company is enhanced by a wide range of people gets the information on the products. It is because when one gets the information on the goods and services on the social networks such as Facebook, he or she shares with the other friends. The paper also adds that the technology is significantly evolving and the traditional methods that were being used in marketing have been challenged by the use of social networking. The social networking has increased the awareness of products and servic es of the companies that have adopted it than the ones using the traditional marketing strategies. The paper also claims that the current social networking platforms also allow the consumers to interact with the service agents as oppose4d to the traditional methods. Therefore, through the interaction, the service agents get new ideas, which help, in improving their products and hence attracting more consumers. The social networking is one of the driving forces of the attention according to these researchers. The 21st century is the attention age, which came after the information age, and people are using the social networking sites in advertising various products. One gets information in the companys social pages and shares with the rest of the other social media sites. As such from this paper, social networking has increased the performance of various companies by increasing their interaction with the consumers as well as enhancing marketing. Conclusion In conclusion, after looking at the past journals as well as Telstra and Virgin Australia companies, it is true to say that social networking contributes significantly to the companys productivity. The social networking increases the interaction with the consumers as well as enhancing marketing improving the companys productivity. However, there are some limitations such as sentiments, which may adversely affect the company. Therefore the employees should be careful in their posts and make sure that whatever they post will not have adverse effects on the business. References Hensel, K. and Deis, M.H., 2010. Using social media to increase advertising and improve marketing. The Entrepreneurial Executive, 15, p.87. Andzulis, J.M., Panagopoulos, N.G. and Rapp, A., 2012. A review of social media and implications for the sales process. Journal of Personal Selling Sales Management, 32(3), pp.305-316 Armstrong, G., Adam, S., Denize, S. and Kotler, P., 2014. Principles of marketing. Pearson Australia. Cater-Steel, A., Rajaeian, M.M., Toleman, M. and Troup, D., 2017. The phenomenon of P3 community for IT support: a crowd-support case study. Chugh, R., 2012. Social Networking for Businesses: Is it a Boon or Bane?. In Handbook of Research on Business Social Networking: Organizational, Managerial, and Technological Dimensions (pp. 603-618). IGI Global. Duggan, M. and Smith, A., 2015. Social media update 2013. Pew research center, 19. Edosomwan, S., Prakasan, S.K., Kouame, D., Watson, J. and Seymour, T., 2011. The history of social media and its impact on business. Journal of Applied Management and entrepreneurship, 16(3), p.79. Forsey, M. and Low, M., 2014. Beyond the production of tourism imaginaries: Student-travellers in Australia and their reception of media representations of their host nation. Annals of Tourism Research, 44, pp.156-170. Gran?ay, M., 2014. Airline Facebook pagesa content analysis. European Transport Research Review, 6(3), pp.213-223. Greer, C.R., Lusch, R.F. and Vargo, S.L., 2016. A service perspective. Organizational Dynamics, 1(45), pp.28-38. Hensel, K. and Deis, M.H., 2010. Using social media to increase advertising and improve marketing. The Entrepreneurial Executive, 15, p.87. He, W., Zha, S. and Li, L., 2013. Social media competitive analysis and text mining: A case study in the pizza industry. International Journal of Information Management, 33(3), pp.464-472. Johnston, J., 2015. Loose tweets sink fleets and other sage advice: social media governance, policies and guidelines. Journal of Public Affairs, 15(2), pp.175-187. Kaganer, E.A. and Vaast, E., 2010, September. Responding to the (almost) unknown: Social representations and corporate policies of social media. In ICIS (p. 163). He, W., Zha, S. and Li, L., 2013. Social media competitive analysis and text mining: A case study in the pizza industry. International Journal of Information Management, 33(3), pp.464-472. Oboler, A., Welsh, K. and Cruz, L., 2012. The danger of big data: Social media as computational social science. First Monday, 17(7). Paniagua, J. and Sapena, J., 2014. Business performance and social media: Love or hate?. Business horizons, 57(6), pp.719-728. Tyagi, A. and Tyagi, R., 2012. Social media: Opportunities and challenges for human resource management. International Journal of Knowledge-Based Organizations (IJKBO), 2(2), pp.54-67. Wilcox, H. and Bhattacharya, M., 2015. Countering social engineering through social media: an enterprise security perspective. In Computational Collective Intelligence (pp. 54-64). Springer, Cham.

Whole Foods Trends

Whole Foods Market, the world’s largest retail chain of organic and natural foods supermarket was founded in the year 1980, from what was initially a local supermarket for health and natural food stuff and products. For nearly three decades now, since its inception, Whole Foods Market has proved to be a leader in the supply of natural and organic foods across the United States.Advertising We will write a custom case study sample on Whole Foods Trends specifically for you for only $16.05 $11/page Learn More The company is widely recognized for its constant ability to supply food products that are free from preservatives and ingredients, and also for their stringent standards to sustain agricultural practices in the country. The company’s unique mission in business is stipulated by its organizational motto, which bears the slogan, ‘Whole Foods, Whole People, Whole Planet.’ This paper provides an in-depth analysis of the trends ap plied by the company in retailing organic foods and its competitive power in the market as it is observed from the provided case. The organic food sector has shown consistent growth in the past several years. Some of the key factors contributing to this abundant growth would include more consumers getting informed through education and conscious concerns of health that processed food products are likely to bring to humans. These practices have further facilitated developments in the sector over the time as mainstream supermarkets continue to utilize the available opportunities to diversify their selection of organic and natural products. Some of the most common trends pertaining the retail of organic food products in the industry include the ups and downs within the farming sector, concerns of the environment, and concern of healthy lifestyles. All these trends would have a significant impact in Whole Foods Market. Uncertain climatic patterns for instance, would negatively influence the supplies of the products in the market, leading to shortages in case of a bad season. More importantly unavoidable weather situations such as tornadoes and hurricanes can also occur anytime, contributing to loss of crops. Regarding environmental concerns, consumers tend to believe that organic products come with positive effects towards the conservation of the environment. It is also understandable that people are now paying more attention than ever before, to what they ingest. In that case, the necessary steps are being applied in diverse settings to promote healthier lifestyle for individuals and families.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Whole Foods Market is making up and down attempts to establish major suppliers of organic supplies to cater for all chains and stores across the states. Food 2008 is a major player in the American food industry. Competition of th e key players in the American food industry has increased rampantly in the past few years, owing to the heightening demand for organic and natural food products. Most Whole Food products target all categories of people in the society. These products have continued to attract increasing consumer concerns from across the states owing to their unique market standards. It is easier to evaluate the competitive environment of the company using Michael Porter’s competitive forces that shape competition strategy. The five forces as observed by Porter include bargaining power of consumers, threat of new entrants in the market, suppliers bargaining power, competitive rivalry, and substitute products. Bargaining Power of Consumers The company is known for its commitment and involvement in charity missions among other community citizenship activities. More importantly, all these would happen as the firm continues to maintain its quality standards on all their products. In that case, the firm’s customers have less bargaining power since their demands and requirements are appropriately catered for and in the most charming manners. However, owing to the increasing number of players in the food industry, buyers are likely to learn new ways in the long run, thus gaining added advantage on negotiating leverage. This way, consumers would tend to shift to other vendors on realization that they can always land on an equivalent product from the market. Threat of New Entrants in the Market As it would be observed, the initial concept of Whole Food Market was more innovative. However, current market trends are pushing the firm far from the scope of innovation and into mainstream. According to USDA, the overall production of organic food products has been going up since the year 1990 in all regions, making organic food products the fastest advancing segment of agriculture. Rapid growth of market, coupled with minimal barriers to entry has attracted many participants in t he industry, thus leading to stiff competition in the market. Suppliers Bargaining Power Just like any other firm, Whole Foods Market largely depends on a wide range of suppliers for its products. In most cases, some of these supplier groups have been active and powerful in determining the company’s competitive strategy in a number of ways. For instance, much attention is given to food processors in the country, which enjoy all the bargaining power. Only a very little percentage of farms are used for organic and natural food products.Advertising We will write a custom case study sample on Whole Foods Trends specifically for you for only $16.05 $11/page Learn More Competitive Rivalry Whole Foods Market faces great rivalry presently, from the many competitors in the food industry. In normal circumstances, some of the common ways through which the firm is affected by rivalry include introductions of new products and services, improvement of services , advertising campaigns and price discounting among other implications. The fact that competitors in the food industry are numerous and roughly equal in power is enough to increase the intensity of rivalry or competition in the market and this reduces the productivity levels of Whole Foods Market. Substitute Products The company faces a high threat of substitutes from conventional food products that are processed artificially in the country. For example, many people in the U.S. would tend to see fast foods such as snacks and drinks as more convenient, compared to other food stuffs that are made at home. Most of these fast foods are artificially processed and preserved, and they pose serious threats to the firm’s productivity. In most cases, these cheap preserved foodstuffs would tend to offer a significant price-performance trade-off to the natural and organic food products offered by the company. In such circumstances, it is easy for buyers to turn to conventional retailers, as there is no cost for doing so. In this regard, these substitutes have continued to limit the company’s profits and earnings in normal times. Competition from major rivals in the industry remains the most significant threat to the firm. This also includes the stiff competition posed by conventional stores across the states. According to the United States Department of Agriculture (USDA), the year 2000 would see most conventional supermarkets in the country sell more organic food products, compared to the country’s natural food stores. Even though a recognized leader in the supply of organic and natural food products, the company continues to suffer the cost of a high market competition from existing and new ventures in the market. In order to successfully combat this threat, the company should adopt an effective strategy that incorporates three significant tactics: Market, Product, and Operational. In regard with marketing and product, things such as quality product s, fair prices and effective ways of promotion would apply. On the other hand, operational strategy would incorporate the use of effective and exclusive store operations for improved outcomes.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Whole Foods SWOT Analysis Strengths Huge variety items/products Marketer of nationally known food products Outstanding experience in the market Large stores Weaknesses Low advertisement budget Higher prices Location of most stores in affluent regions Lack of coupons in promotional offers Opportunities Effective advertisement and promotion to attract more customers Introduction of rewards systems for consumers Expansion of private label selection Introduction of cost-effective ways that will favor customers Threats Bad or uncertain economy Availability of local farmers Conventional stores and supermarkets regular changes in government regulations on natural and organic food products It is possible for Whole Foods to achieve a sustained competitive advantage over its competitors in the market simply by making effective use of these strengths and opportunities. For example, the company deals with a variety of products that are nationally accepted as foods, and this could be a c ertain way of attracting and retaining huge numbers of consumers in the market. More importantly, the company has great business potential considering their large stores located allover the country. These facilities can be utilized in a number of useful ways, apart from only acting as selling stores. Holding exhibitions and educational forums regarding the products on sale to potential consumers are some of the useful ways of utilizing the stores. Effective promotional strategies would help in publicizing the company’s products whereby the introduction of a reward would play a significant role in the attraction and retention of consumers in the company’s products. This case study on Whole Foods Trends was written and submitted by user Enzo O. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Atherosclerosis, Coronary Artery Disease and Endothelium essays

Atherosclerosis, Coronary Artery Disease and Endothelium essays One of the foremost leaders of mortality in the US is coronary artery disease (CAD). This disease strikes many older men and women, as a result from the infamous factors of high cholesterol, high blood pressure, and diabetes mellitus, not to mention others. Thanks to research over the last decade, there is more understanding of the role endothelium plays in the coronary system. Instead of having non-active, diffusional barrier-like qualities, as was once thought, the endothelium serves many critically important functions. At the blood vessel walls, the endothelium synthesizes and releases active substances such as nitric oxide and bradykinin, two potent regulators of vessel function. It is found that the physiologic changes in the endothelium affect the mechanisms responsible for atherosclerosis, and progressively in coronary artery disease. The changes that generate these conditions are known as endothelial dysfunction. As we will see, even the smallest factors can play a wi despread role in atherogenesis, or the making of degenerative plaques of cholesterol in the inner layer of an artery. Atherosclerosis, a condition increasing with age, is marked by the deposition of lipids into already-present plaques, causing elevated plaques. The inner layer, or endothelium, is the primary site of development of atherosclerosis. The endothelium is a highly dynamic, multifunctional organ whose central role is to respond to changes in stress and blood flow (Jairath, 1999). The endothelium is the largest organ in the body; its total mass is equal to about five human hearts, and surface area about the size of a tennis court. The vascular tone of the blood vessel is maintained by endothelium-released vasoconstrictors and vasodilators. Vasoconstrictors include endothelin, angiotensin II, thromboxane A2, arachidonic acid, prostaglandin H2, thrombin, and nicotine. Vasodilators include nitric oxide, prostacyclin, bradykinin, endoth...

Advance Database Essay Example | Topics and Well Written Essays - 1000 words

Advance Database - Essay Example The report gives a detailed technical description of the systematic formation of the system’s data model. The objectives of the report intend to encompass the important details related to the four major phases involved in building the proposed database design: 4. Implementation of the database design in Oracle and testing of the design through scenario specific SQL queries. The correctness of the result would prove the correctness of the proposed database design. The major constraint in designing a class diagram of a scheduling management database is in relation to a large number of variants brought about by the seasonal change of train journey, planned and unplanned maintenance of trains and rearrangement of weekdays and the holiday. Though the calendar stating of each train, the entry number description for a particular day, time and station makes the whole process cumbersome. The approach requires not less than 2 million records to accommodate the train scheduling the proposed relational database. In addition, to hold the schedule for a long time raises the number of records the key issue is the operation of updating changes in the schedule. Another key constraint is the issues relating to objects that have overlapping lifespan. This is very profound when this object overlaps. The situation is peculiar since the object maintains its state actuality even after changing (IBM 2003). It only takes place in that given a short time during the replacement. This will result in a situation where we have multiple real time tuple which describes the different versions that the same object has. This idea does not merge the previous RDBMS concept, therefore it is inherent to develop special data queries which will solve this situation. To form a structural model for the system, all critical entities of the TFR for which data is stored and that are part of the daily business operations were

Case study #1 Essay Example | Topics and Well Written Essays - 1000 words

Case study #1 - Essay Example Thus, for the better understanding of the competencies and shortcomings of Forest International, aimed at suggesting rational strategies to overcome the identified issue, a SWOTT analysis has been assessed in the below mentioned section. Strengths. Forest International has annual revenue of $11 billion along with employee strength of 45,000, which makes it quite competent to invest in safety measures. Although employee turnover is negligible, it does not embark on the employee loyalty but rather on the economic construction of the region where workers are somewhat forced to work in hazardous conditions. Opportunities. In the course of improvement of safety records of the company, it can seek for the assistance of standards developed by Federal OSHA, to ensure the safety of paper mills industry. Correspondingly, the company must abide with the 1910.145 standard under the OSHO Code, which emphasizes the prevention of accidents during the duty work of the employees (US Department of Labor, â€Å"Pulp, Paper, and Paperboard Mills†). Threats. The major threat that Forest International have been facing is the downfall of its market share as compared to that of its competitors. Due to its lack of sustainability concerns and frequent workplace accidents, the company also faces threats in terms of lowering stakeholders’ loyalty. Trend. In accordance to the past records, it was observed that the accidents occurred in Forest International was the consequence of the management’s negligence. Jack Taylor, crew leader had once reported an accident caused due to the loosened up jack in the machinery and suggested the management on ways of improving safety lines. However, it was ignored by the management. Thus, emphasizing this particular issue in the report, few of the measures for improvement of safety lines in the company is being suggested gauged with rational

A look at the effects of my Hispanic heritage Essay Example for Free

A look at the effects of my Hispanic heritage Essay I am a part of the growing population of people of mixed descent, and am both privileged and punished by relating to my Mexican heritage but not resembling the stereotypical Hispanic. Most people arent aware, even in these times, that you can be Hispanic whether you are as white as paper or as dark as its ashes. I have grown up privy to all the privileges of a comfortable lifestyle, typically among Caucasians, both in my neighborhood and honors classes in my rural town. Yet I am reminded of my heritage by the food I eat, the style of music I wake up to on a Sunday morning, and traveling to a dusty, dog-filled village in Mexico to bury my grandfather. I wonder sometimes whether resembling my classmates in immediate appearance has been a good or a bad thing. They unthinkingly offer up dirty Mexican jokes, only to find that I am not amused. They confide in me how they could never date a black girl or a black boy, and I cant support their sentiments. I wouldnt be here if such relationships didnt occur. Yet, I dont think I would change the way I look to deter such comments. What I inherited from my mother is my disguise almost, how I can uncover what people really think about the group to which I belong. If they could tell that I was the subject of their comments, they wouldnt say it to me, but they would still think its okay. It gives me the chance to show them that there are some things that are never appropriate, no matter whose company they are in, because you never know what is behind the color of their skin. Their unthinking negative comments about my race dont bother me so much in comparison to other things. My area is known for its incredibly high ratio of chickens to people, soybeans, and other farming industry. This kind of economic environment doesnt bring a lot of culture into my town. The people who work in these low-income jobs are typically Hispanic, and they fulfill some of my classmates prejudices. They are poor, unable to speak English, and have very few nice places to socialize or live. When I happen to see a family walking, I notice there are many small children, but there are probably less than twenty Hispanic students in my entire high school. Hispanics are a large part of our population, but by the time it comes for us to attend high school, it looks as though many have already dropped out of school. I feel as though I am unable to fight prejudice around me when I  see fulfillments of such negative thinking everyday. There are some points in my life I have not been so willing to inform people of my ethnic background. I volunteer in a thrift shop regularly, and I have become friends with the older Caucasian women who work there. I have come to be treated almost as though I am a paid employee. One day, as I was restocking racks, a non-English speaking family comes in with three small children. While I was in the storage room, there is a commotion in the store and I hear one of my co-workers angry voice. I heard the story later. The mother of this not even one-year-old child had watched him urinate on the floor of the store, without attempting to stop or berate him. She was about to walk away from him when my co-worker noticed what the little boy was doing. The mother did not deny what her son had done or offer to clean the mess. After repeated attempts to get an explanation, or even a response, the woman just walked away again, and away from her oblivious child. The family was asked to leave the st ore, and my co-worker ended up cleaning the mess. She angrily muttered about those damn Mexicans. This is when it bothers me the most, when I cant bring myself to contradict her. There isnt an explanation I can give to validate that mothers actions. Would a white woman let her child do that? And I find myself thinking, No, she wouldnt, because she would buy diapers. In comparison to hearing negative prejudices about Mexicans, it bothers me so much more to find myself giving in to them myself. It makes me wonder how can I defend my fellow Hispanics when looking around, it feels like Im the only one trying to break the stereotype. Yet on a more optimistic note, I know that the mother was merely a bad apple in the bunch. Not every group of people are all going to be saints, nor would they be all as apathetic as this one person. But because of her actions in such a public and respected place, others are going to see her as a representative of my ethnicity. A personal solution to the weak ethnic pride in the community is to be a public example to the local Hispanics. However, even with living in Buenos Aires for three years, taking Spanish courses in high school, and having half my extended family living in Mexico, I still cant speak the language fluently myself. How can I influence them if I cant relate at all?  Im not similar economically, academically, not even through a common language. I only know a small part of what concerns them in life. My current incapability to change their situations bothers me more than any ignorant slur I hear. It seems everyday I ask myself that clichà ©d question, How can I make a difference? I dont know how at this moment. When Im helping people in the thrift shop, they dont see a Mexican girl. The Hispanic customers see a white girl with dark hair and eyes, speaking in a language they dont understand, who rarely offers advice in broken Spanish. The other customers dont see anything that would change their opinion about those Mexicans. Growing up white, but with minority allegiances, has given me a unique perspective on discriminatory views. I know, through my own experience, that you cant imagine or know a whole person just by seeing or being in class with them. There is something that you wont know about them and wont expect. I am not an exception to the rule, and I know I have my own preconceptions of people I see, however unwelcome those thoughts are. In my Mexican heritage there are instances of racial discrimination. Her parents and community disowned my great-great grandmother when she married someone much darker than her and of a lower caste. The tendency for prejudice is not secluded to just appearance. Its among every grouping of people, from the American-born blacks discrimination against the Haitians in my school, to the suburban kids talking about the white trash. As a society, we will always find some way to differentiate ourselves from others, from people who look or act different than us. I am hopeful for change, and I want to be a part of that change through achieving success in my profession as a Hispanic. Growing up surrounded by prejudice in every form, I am more realistic about humanitys capabilities and more forgiving of such transgressions that are learned from our elders. In spite of this, I am still confident that with time, no matter where one lives, all forms of prejudice will be considered unacceptable to express or to hold.

Free Essay - Hester as Mother of the Year in Nathaniel Hawthornes The Scarlet Letter :: Scarlet Letter essays

The Scarlet Letter - Hester as Mother of the Year No one is perfect. Especially when it comes to parenting. Even Book characters have trouble being good parents. One example of this is Hester Prynne. She is a book character for the book The Scarlet Letter by Nathaniel Hawthorne. Now, Hester is not the worst mother, but she is not the best either. How can you be the best mother in the world with a heathenish daughter like Pearl? Still, Hester does her best, and that's all anyone should ask for. Hester is a good mother because she looks out for Pearl's future, she knows when to be stern and she is a great role model. When people think of a good parent, the usually think of someone who is always looking out for their child's future. Sometimes, that means lying. Unfortunately, Hester runs into this problem when Pearl asks her mother why she wears the Scarlet letter. "'Silly Pearl,' said she, `what questions are these? There are many things in this world that a child must not ask about...I wear it for the sake of its golden thread.'"117 Truly, Hester lied to Pearl about why she wears the scarlet letter. She lied for a good reason. She lied because as you are growing up you adjust to things. If Hester told her the truth, Pearl would have just shrugged off the comments that she heard about her mother. By not telling her, the impact of those harsh comments would effect her more and perhaps stop her from committing the same sin her mother did. Therefore, save her from suffering. But there is much more to parenting then just looking ahead to the child's future. Being a good parent also means looking at the here and now as well as the future. The here and now can be a code word for discipline. Sometimes, discipline means scaring the child into behaving. This is what Hester has to do on one occasion. "'Do not tease me: else I shall shut thee into the dark closet!'"178 Admittedly, this seems as if Hester is an awful person to threaten her own daughter. At the same time, is it not necessary if the child will not behave?

An Epic Hero: Beowulf Essay

Beowulf is an epic from the Anglo-Saxon period about a hero who takes on extreme challenges. The main character, Beowulf, embodies the virtues of the Anglo-Saxon culture and beliefs. He also embodies the traits of the Anglo-Saxon society: strength, bravery, honor, and the want and need to help others around them. Beowulf is faithful to his word and shares any and all of his winnings and gifts that he has received. His being faithful to his oaths links him to the Anglo-Saxons. Beowulf makes an oath to kill Grendel and he does (page 37). After Grendel is killed, the people tell Beowulf of Grendel’s mother and he tells them he will have her dead as well and indeed he does (page 41). Anglo-Saxons are very generous when it comes to sharing their wealth. Hrothgar offers treasure and gold to Beowulf in exchange for the death of Grendel’s mother (page 39). Wiglaf speaks of how Beowulf gave him and the warriors gold and other gifts, so they in turn should help Beowulf defeat the dragon and defend their leader (page 47). In order for Beowulf to be like the Anglo-Saxons, he would have to have these characteristics and he did. Beowulf made allegiances between leaders, but relied on fate a lot which is exactly the trait of an Anglo-Saxon. His reliance on fate was a big rise for him, but when he faced the dragon fate was no longer on his side. Before the dragon, Beowulf believed that if he was given a task then fate would make it so. For example, he says, â€Å"†¦ death was my errand and the fate they had earned† (lns 158-159). At the end of Beowulf’s speech to the king, he exclaims, â€Å"Fate will unwind as it must! † (line 189) which shows how he relies on fate. The allegiances he made helped him look better by giving him more fame. After Beowulf’s speech to the king, Hrothgar replied, â€Å"No one strange to this land has ever been granted what I’ve given you, no one in all the years of my rule. Make this the best of all mead-halls yours, and then keep it free of evil, fight with glory in your heart! Purge Herot and your ship will sail home with its treasures full† (lns 385-391). With that, Hrothgar finally decides to allow Beowulf and his men to take down Grendel. Beowulf’s allegiances and beliefs embody the traits of the Anglo-Saxons. Love of fame, pride, and boastfulness are the downside to the Anglo-Saxon characteristics and Beowulf holds all three of these traits inside of himself. His pride and boastfulness is what intimidates others to keep them thinking that he is better than them and no one could beat him and Beowulf lets everybody know it. When Unferth challenges Beowulf, Beowulf replies boastfully on how there is nobody that swims in the sea like him and how nobody is as strong as he is (page 30). Beowulf later goes on to tell a tale of him and a friend, â€Å"He could never leave me behind, swim faster across the waves than I could, and I had chosen to remain close to his side† (lns 274-276). His love of fame and success is not uncommon among the Anglo-Saxon culture. Beowulf loves to hear his success stories, so he tells about how he â€Å"drove five great giants into chains† and â€Å"chased all of that race from the earth† (lns 153-155). These downside characteristics are the values of an Anglo-Saxon. Beowulf has inside of him all of the traits and characteristics of the Anglo-Saxon people. This epic hero is a perfect example of the Anglo-Saxon values. These traits, good and bad, are what make up Beowulf as well as the Anglo-Saxon society.

Foreign Exchange Market - Free Essay Example

Sample details Pages: 23 Words: 6764 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Essay any type Did you like this example? 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. Don’t waste time! Our writers will create an original "Foreign Exchange Market" essay for you Create order 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 gol d 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 transactio n 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 activit ies. 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. B ut 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 l oss 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 elemen t 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 Forei gn 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 transa ctions 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 milli on in normal times. In recent years the derivative 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 indi vidual 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 area 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 foreig n 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 co untries 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 logically 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 Germ an 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 exch ange 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 technic al 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 transaction s 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 b oth 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 its 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 connectio n 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 to 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 bein g 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 liberat ing 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 safeguards 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 f or 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. The 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 Chandrasekhar, 2006, Regarding convertibility of rupee, the government of India under the FEMA guidelines, made provisions to find ways to bypass the restrictions of procedure coming in the way of free flow of foreign exchange. So many modes like External Commercial Borrowings (ECB), FDI, ADR / GDR and NRI Deposits, providing NRI Status special allowances to students studying abroad and giving special allowances to resident Indians we re instituted to help overseas investments and transfer of funds beyond the national shores and give an outlet to avoid the difficulties and delays including long procedures and get instant solution to their foreign exchange requirements (www.femaonline.com). The Committee on Procedures and Performance Audits on Public Services (CPPAPS) has initiated schemes like Know Your Customer (KYC) that tries to understand customers requirements in the field of foreign exchange related services and makes the transactions quick and hassle free with lesser amount of paperwork. Apart from this the government has given authorization to many institutions to deal in foreign exchange. This caters to the foreign exchange and related needs of many customers and provides wider access of foreign exchange services to the customers (www.femaonline.com). 2.7 Features of Foreign Exchange Market in India: The information gathered from official sources reveal that the foreign exchange market in India has become quite vibrant in recent due to the influence of globalization and widespread change in policy at the government level pertaining to the foreign exchange market and its different services though the RBI still remains the final and only interpreter of any policy and policy related issues related to foreign exchange transactions. It determines the Nominal Effective Exchange Rate (NEER) and Real Effective Exchange Rate (REER) that is required for foreign exchange transactions. It was only RBI that included in its policy such measures like special deposit schemes for Non-Resident Indians (NRI), providing liberal policies to Public Sector Units (PSU) for their foreign exchange needs and lifting the restrictive clauses in the governments policies related to gold. Today this market in India from the suppliers side constitutes not only the government section i.e. the RBI but also includes Authorized Dealers in Foreign Exchange (AD) among whom the State Bank of India (SBI) is th e largest Authorized Dealer (AD) in foreign exchange. From the operational point the foreign exchange market is divided into merchant segment that deals directly with the customers and the inter-bank segment that coordinates and facilitates the transactions in foreign exchange. From the customer side the largest seekers of foreign exchange related services can be the private and public sector business and corporate houses followed by other groups and special projects especially Foreign Institutional Investors (FII) needing foreign exchange services apart from the vast section of individual citizens and foreigners needing foreign exchange for various purposes all operating under the broad framework and policies along with the conventions provided by the RBI. Along with this the Authorized dealers (AD) have an association called the Foreign Exchange Dealers Association of India (FEDAI) that provides the guidelines for determination of commission and other related matters for around on e hundred members of FEDAI who are mainly located in the major cities of India like Delhi, Mumbai, Kolkata, Chennai, Bangalore and Ahmadabad etc. (www.fedai.org.in). 2.8 Foreign Exchange Market Development: The foreign exchange market in India has developed immensely in terms of volume and nature of business and the facilities that are being offered for it by the government. Today there is lesser amount of paperwork and procedures in accessing foreign exchange for various needs be it an individual citizen or a corporate house. Most of the developments that were made in the foreign exchange regime were initiated by the recommendations of the Fourteen Member Expert Group on Foreign Exchange called Sodhani Committee in 1994 (Sodhani O.P., 1995), which made 33 recommendations for the development of foreign exchange regime in India out of which around 25 recommendations were accepted by the government. These recommendations aimed at aligning the foreign exchange system of the count ry with that of contemporary global requirements. Some of the prominent recommendations are mentioned below: Freedom to fix net overnight position limit and gap limits although RBI is formally approving these limits Replacing the system of across-the board or RBI prescribed limits Freedom to initiate trading position in the overseas markets Freedom to borrow or invest funds in the overseas markets (up to 15 per cent of Tier I Capital unless otherwise approved) Freedom to determine the interest rates (subject to a ceiling) and maturity period of Foreign Currency Non-Resident (FCNR) deposits (not exceeding three years) Exempting inter-bank borrowings from statutory pre-emptions (subject to minimum statutory requirement of 3 per cent and 25 per cent in respect of Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) for the total net liabilities respectively) Freedom to use derivative products for asset-liability management Allowing Corporate Houses no ticeable freedom to operate in the forex market Permitting corporate houses to hedge anticipated exposures Exchange Earners Foreign Currency (EEFC) account eligibility has been increased and the permissible end-uses widened. Corporate Houses have been given the freedom to cancel and rebook forward contracts Corporates can also avail of lower cost option strategies like range forwards and ratio range forwards and others as long as they do not end up as net writers of options Corporate Houses have been given some degrees of freedom to manage exposures in External Commercial Borrowings without having to approach authorities for hedging permission Corporate Houses can access swaps with rupee as one of the currencies to hedge longer term exposures. Other recommendations of the Sodhani Committee implemented by the Government include: Revamping internal control guidelines of the RBI to banks and making them available to companies. Establishingappropriate market i ntervention strategies to deal with market developments Adopting internationally accepted documentation standards Framing comprehensive risk management guidelines for banks Adopting Basel Committee norms for computing foreign exchange position limits and recommending capital backing for open positions Setting up a foreign exchange market committee to discuss market issues and suggest solutions Recommendation on publishing critical data on forex transactions has been implemented, and in fact the standards of disclosure by RBI are considered to be very high now. In practical terms the government has been encouraging specialized international trading operations like external commercial borrowings, foreign direct investments, overseas acquisition of properties and financial papers/shares as well as overseas mergers and acquisitions in line with the new global system established by WTO. 2.9 Foreign Exchange Transaction Risk Management: It is but natural that the r isks that were being hitherto faced by countries having liberal exchange regimes have now come to affect the Indian foreign exchange system. As a result the Indian companies are now faced with similar problems in the international foreign exchange market or any venture that has connections with the global foreign exchange regime. This becomes amply clear when one scrutinizes the operations of the Indian corporate that are venturing into large scale operations in the global market. A report cited in the BIS Quarterly Survey 2005 (Table given below) clearly mentions the specific types of foreign exchange related risks and problems that the Indian companies are facing in their overseas ventures especially in different types of politico-economic set-ups. Company Context Issue Reliance Industries Limited Global Financing Decisions Complexities arising due to international financing decisions covering capital structure decisions, choice of maturity, market timing, and foreign exchange risks. Coimbatore Yarns Mark Receivables Foreign exchange risk management problems covering currency of invoicing, transaction exposure and accounting implications of forward contracts. Essar Steel Limited Hedging in Convertible Bonds Difficulties arising in hedging foreign exchange risk of a foreign currency convertible bond and several issues related to financial distress. Essar Steel Limited Comparing Cost of Funds True cost of borrowing in relation to a competitor who achieves an apparently cheaper financing. Essar Steel Limited Valuation of Euro-Convertible Bonds Valuation of foreign currency convertible bond with embedded call and put options and other issues in option valuation. This case raises issues of exchange risk, interest rate risk and exposes the true cost of borrowing during issuance of complex financial instruments. TISCO Rights Issue Case involving fundamental analysis, asset allocation, market risk, hedging and short sale possibilities. Also linked with issue of multiple instruments, inter-linkages between operations in primary and secondary markets. This is one of the first in the series of cases revolving around a public issue by one of Indias largest private sector companies. TISCO Rights Issue Problems arising due to complexities of adjustment for bonus and rights issues in applying the Gordon dividend growth model. TISCO Rights Issue Exchange valuation problems in the mechanics and subtleties of beta computation, it being a measurement of risk in modern portfolio theory. TISCO RightsIssue A case on the stability of betas over time particularly changes in betas induced by environmental changes like deregulation of foreign exchange regime. (BIS Quarterly Survey, 2005) The table shows that the companies mentioned are facing problems while performing basic works needed for any international project like issuing of global issues rights and bonds, global marketing programs, asset allocation, financial arrangements etc. And most of these companies are the forbearers of emerging Indian multinationals having considerable financial and market power. It only proves that the foreign exchange regime is a mechanism that has the inherent quality to increase the percentage of risk that is directly proportional to the increase in activity or intermingling of a specific financial regime with the global financial system that gives rise to different types of issues connected with the risk factor of international foreign exchange system form which even established companies cannot escape. In specific terms the companies that are venturing into the global market or initiating some ventures in a different country and under a diff erent financial regime are facing the problems related to computation and tallying of value of currency of both the countries and of the whole project or contract and working under different financial systems having different conventions and procedures and international transfer of currency value of individual countries (Shamah and Shamah, 2003). In fact it can be said that the risks associated with the foreign exchange systems of countries and of the whole world have come to stay. This had to happen because as of now even though the individual countries have increased their association with the global foreign exchange system they have still retained their financial policies and systems that are unique to their domestic and national requirements (Steiner, 2002) and is not in consonance with the system of other countries. In fact the genesis of foreign exchange emanates from this fundamental difference only. In fact so long as this difference remains there is bound to be increased ri sk in foreign exchange mechanism with increase in intermingling between the financial systems of different countries through the foreign exchange system. 2.9.1 Risks Reducing Strategies: Hedging of foreign exchange transactions and dealing in foreign exchange in the derivatives market are the most common strategies that are followed by Indian corporate groups and other entities to minimize the risks associated with transaction in foreign exchange in the international market. Regarding providing all the facilities and support to face and tackle the risks associated with foreign exchange regime the FEDAI provides the needful support and guidance (www.fedai.org.in). A major chunk of the risks associated with foreign exchange transactions are avoided because the RBI only allows full convertibility in the current account and not in the capital account. In the same way the RBI gives blanket cover to the Indian corporate groups and other entities dealing in foreign exchange and tackl es most of the risks associated with fluctuations in the value of Indian currency that has a direct influence of the exchange rate and foreign exchange regime of India. This gives the Indian corporate groups the protecting umbrella to freely chart their international business strategies (Damodaran, 2007). This leaves the inevitable risks of smaller nature like the daily fluctuations in the valuation of currencies and the procedural bottlenecks that is associated with foreign exchange system of the world Ziemba and Ziemba, 2008, has a opinion that these will remain so long as there are different financial systems existing in all the countries and there is no common system to coordinate the procedures and paraphernalia associated with foreign exchange system. Besides, the fluctuations in valuation are direct fallout of the increase in volume and traffic of international foreign exchange system and these risks are an effect of the phenomenon only. 2.10 Conclusion: The foreign exc hange system in India was almost wholly protected from the influence of the international foreign exchange system till the nineties when it was liberalized due to some inherent causes as well as some extraneous developments. Till that period the Indian financial system was totally regulated by the government with the Indian currency maintaining its exchange value with the total backing of the government. But he global developments and inherent causes made India adopt certain far reaching procedures and policies alike opening up of the economy to the global market, adopting total convertibility of the Indian currency in the current account, establishing laws and procedures for the facilitation of overseas investments as well as foreign direct investments and external commercial borrowings. The government also repealed all the restrictive laws that gave a very restrictive system to the foreign exchange mechanism like the FERA. All these processes opened the Indian foreign exchange to the different possibilities of the global system and both individual and corporate groups of India along with other players greatly benefitted from it. But this new development also lifted the protective veil of the Indian government system that was previously being bestowed to the foreign exchange mechanism of India and the Indian currency system. The Indian currency and the foreign exchange system therefore faced risks associated with the functioning of the global foreign exchange system like fluctuations in rate, plethora of laws rules and regulations and mismatch of procedures of different countries notwithstanding the difference in time and place of transaction and closing of deals that was greatly affecting the value of foreign exchange transactions in the international market. All these developments are a consequence of greater intermingling of the Indian currency with the international monetary system. Nevertheless the Indian system in spite of the many facilities that it has provided for growth of business and economy of the country has still retained the some of the fundamental principles and policies that are giving protection and also remedies to avoid and mitigate risks associated with the international foreign exchange transaction environment. These including excluding the capital account from being fully convertible, intervening in the case of excess devaluation of the Indian currency in the market to restore its value, providing the environment to establish support groups and associations to deal with issues and problems related with foreign exchange transactions etc. The Indian corporate groups and other players dealing in foreign exchange are also trying in their own way to tackle the risks associated with foreign exchange transactions by hedging their deals and dealing in foreign exchange in the derivatives market. All the same the risks related to transactions in foreign exchange will remain. This is because they are an inherent part of the dynamics of the foreign exchange system operating in the globe. But the better thing is that the Indian government and its system still have the basic system to protect the Indian currency from the risks associated with operating in the global foreign exchange system.