Why I Need to Study Law Scholarship Essay Example | Topics and Well Written Essays - 500 words

Why I Need to Study Law - Scholarship Essay Example Instruction was before a fundamental need gave by the legislature to its kin; it is given a huge segment of the national spending plan. In any case, in our ever-evolving world, the administration needs to pull back its help for advanced education and education costs must be expanded. We need to acknowledge the way that not every person in our general public is allowed to have the instruction they require and merit. I am fortunate to have enough instruction to be the sort of man I am currently. I had the option to complete a degree in Business and the chance to take my risk in taking up Law. The honors and encounters that I had during my prior years in school will be useful in my future days at the college. Being an individual from the discussions group has instructed me to see and investigate circumstances plainly. I needed to think fundamentally before coming to an end result and express my assessments in the most ideal manner I can. Difficulties are additionally part of my regular daily existence at school. To be a board individual from the English Language Society has moved me to be acceptable at something I am not used to. In any case, the boldness to seek after something has become my weapon so as to win the fight. I turned into a decent speaker of the language and now I can convey and communicate better. Our reality currently is getting requesting. Furthermore, after some time, society’s needs and needs change and tend to duplicate (McConnell and Brue 2005, p.23). It currently requires more information and aptitudes for us to proceed with our reality.

Literature Review and Report Essay Example | Topics and Well Written Essays - 1000 words

Writing Review and Report - Essay Example The development of wines in the market asked Fosters to move in these wine enterprises, and he gains more than anticipated contrasted with its past business, the brew organization. In the USA, it’s been expressed that its constant development in the previous 30 years has delighted in and has never experienced two years of falling interest. Be that as it may, this summarized had changed when overcapacity in the creation of wines happened. What's more, sadly, this occurrence is currently the wellspring of a significant number of Foster’s issues. Beringer Blass Wine Estates (2004), for example, united some creation and warehousing offices, recorded the book estimation of abundance mass wine stock, and chose non-vital vineyards in California and Australia to set available to be purchased. Same with what happened to Fosters when he experienced the overcapacity in his creation, constraining Fosters to make changes before his wine business will naturally plunges By the primary portion of 2003, Fosters income had dropped to 64 percent because of profound value cutting since other wine business, or its rivals had removed their overall revenues. The prompt fall of profit of Fosters obliged him to reduce expenses leveled with the expenses of its rivals. In any case, Fosters didn’t connect promptly in arranged change before its wine business stumbled into difficulty. Encourages was anticipating that, sooner, the business he created on the first years will proceed on the next years. Yet, he rather experienced more troubles and along these lines cleared that Fosters expected to experience critical changes to refocus. The primary he does was the arrangement of another CEO, Trevor O’Hoy, which likewise headed the wine business. Their fundamental focussed under the new CEO, which are the greatest dangers to Fosters effectively completing this change program, was focussed on reducing expenses and improving efficiencies. A built up organiz ation in a developing business sector is

Timing Frequent Breaks

Timing Frequent Breaks An explanation of effective ways to use frequent breaks in assessment. Updated on: December 11, 2000 Page 1 of 2Timing: Frequent Breaks Related References Types of Assessment AccommodationsAccommodation ObjectivesGuiding PrinciplesCase StudiesGlossaryDescription Some students require frequent breaks during testing. This might mean providing a break on one subtest but not another. On long tests, it may mean providing breaks at predetermined intervals. This accommodation is made by the teacher or test proctor. Usually, a set time for the break is scheduled (e.g., after completing the first subtest). If the student is old enough, he or she may be allowed to signal when a break is needed; however, the IEP would need to determine the appropriateness of this prior to the testing situation. The decision for when to allow a break should be based on data from the IEP regarding how long a student is able to maintain sustained concentration and involvement in the assessment task. Consideration also should be given to whether the proposed break time interrupts a sequence of items or section of a test - which may, in fact, interfere with the student's performance. Students should be briefed about the break policy before the test starts (e.g., when it will occur, who will alert the student). The teacher or designated adult should inform the student when it is time to take a break. Supervision during break time is important to ensure that the student actually benefits from the break, as well as to guarantee that no inappropriate supports are available (e.g., student uses a dictionary to define a word on the test). Some teachers prefer to have students who need this accommodation take the test in another room, primarily for the following reasons: Frequent breaks may distract other students. Students may become distracted by their classmates who are at different places in the assessment. For instance, directions given to other students may interfere with the student's concentration. Some older students may be embarrassed about needing an accommodation and would prefer to keep it private. Council for Exceptional Children Provided in partnership with The Council for Exceptional Children.

Business Research Tulsa’s Central Business District

BRM CASE ANALYSIS TULSA’S CENTRAL BUSINESS DISTRICT CASE SUMMARY The Metropolitan Tulsa Chamber of Commerce had noticed required timely information about Tulsa’s Central Business District for investment decisions †¢ One of the research projects was a survey of chief executives of business firms to gather information about the number of employees working their, their salary distributions and proposed future investments †¢ For this purpose, a mail survey was carried out, which also included a questionnaire †¢ A stratified sampling technique was followed, keeping in mind the greater impact of larger firms †¢ Of the 372 questionnaires sent out, 219 were filled out and returned, constituting a 61% response rate †¢ Advance†¦show more content†¦H0 : Tulsa’s Downtown Area does not have a positive outlook for growth Ha1:Tulsa’s Downtown Area has a positive outlook for growth H0:  µ ≠¤ 3 Ha1:  µ 3 Where,  µ=3 represents the minimum parameters that must be satisfied so as to present a positive outlook for growth in the perception of the respondents RESEARCH METHODOLOGY Part 4: Data Analysis The following hypothesis can be formulated as per research question 2, which can be further tested through data collected via exploratory descriptive phase of the research. H0 : Tulsa Business District doesn’t have a better outlook for growth than other business districts. Ha1: Tulsa’s Downtown Area has a better outlook for growth than other business districts. H0: D = 0 Ha1: D 0 Where is the mean difference in the rating of Tulsa’s Business District with other business districts RESEARCH METHODOLOGY Statistical tool applicable: Z test or t test for a single sample. Part 5: Results and findings: The results of hypothesis tested can be inferred and used as the basis of recommendation to the Metropolitan Tulsa Chamber of Commerce THANK

The Role Of Relational Leadership And Leadership Studies

John Maxwell once said, â€Å"Leaders become great, not because of their power, but because of their ability to empower others.† His idea is something I have always searched for in leaders I choose to follow. It is some I try to embody myself. The leader I chose to interview is the epitome of Maxwell’s words. Kyleigh Mazer, is a junior at Ball State University. She is 20 years old and is from Floyds Knobs, Indiana. Mazer is studying Entrepreneurial Management with minors in Marketing and Leadership Studies. Involved as a Resident Assistant, Excellence in Leadership (EIL) ambassador, National Residence Hall Honorary inductee and American Marketing Association member, she is making the most of time leaving her footprint on the Ball State†¦show more content†¦Its vision is to foster the most successful, well-adjusted generation of wounded service members in our nation s history (). The purpose of the organization to raise awareness and enlist the public s ai d for the needs of injured service members, help injured service members aid and assist each other and to provide unique, direct programs and services to meet the needs of injured service members(). I believe this is a very important social issue. Presidential candidates in the past three election cycles during the debates have extensively identified the problem of not supporting our veterans, yet barely anything has been done making The Wounded Warrior Project very important. After a semester of planning the race took place in April of 2015. Their hard work came to fruition as 67 runner participated and another 24 volunteered. Mazer is an ideal candidate for the interview beyond her group because she decided that the 5k should happen every year in order to raise awareness on our campus. Therefore she decided to make it into a student organization called Cardinals for Camo. Currently, the official status of the organization is in the works with the Office of Student Life. The organization should be approved by the end of October as she has already received formal approval for hosting meetings and recruiting members. Her inspiration and passion for continuing and creating the

Problem with Evil Existence of God Free Essays

string(249) " It is often that the existential approach turns from asking why God would allow such evils to happen to instead how one can go to God in search for him to help relieve them of their problems and find ways to make suffering and evil more tolerable\." Today the news is filled with coverage on various natural catastrophes and other related causalities that people face daily. Anyone can look into their lives or even their neighbors and see the presence of misfortune that surrounds our world. This problem has brought up the issue of God’s existence in religious philosophical discussions. We will write a custom essay sample on Problem with Evil Existence of God or any similar topic only for you Order Now For centuries, many have tried to dismiss the existence of God on the basis of the existence of evil. Let’s consider where God has been placed in people’s lives throughout our history. For the Greeks and Romans gods were thought to personify wisdom, war, and other actions that human beings took (Spitzer 5). As knowledge continued to progress god was thought to live in heaven, beyond the realm of the planets. He was believed to have created life thousands of years ago. Soon as human knowledge progressed even further we’ve learned about the Big Bang, DNA, and evolution (Spitzer 14). It seems that the more humans know, the further back God gets pushed. Often, it appears as if humans use God as a placeholder for the unknown, but as we learn more, he gets redefined. Philosophers question whether or not there can be a wholly good God that would create such a world where evil exists. This pursuit is known as the problem of evil. â€Å"According to the ‘problem of evil’, the extent of evils in the world seems to conflict with the existence of an omniscient, omnibenevolent, and omnipotent God. Theodicy is a study where theists are able to get together and make their arguments disclosing information on the compatibility between God and evil. This seems to be one of the most perplexing problems theists have to face. In today’s world, there are many differing opinions as to whether a God exists or not. This obviously has been an issue of great controversy because many people worship different gods or no god at all. I will define theodicy; discuss the conflict between an omniscient God and the existence of evil, and touch on free will and how it plays into natural and moral evil. Theodicy is the branch of theology that defends God’s goodness and justice in the face of the existence of evil (dictionary. com). Theodicy is a term hat comes from the Greek words theos meaning God and dike meaning righteous. The basic form of theodicy involves these assumptions that God is all good and powerful therefore he is all knowing and that the universe was made by God and does it exist in a contingent relationship to God. Also the assumption of the existence of evil and why. (Mackie 150) This suggests that if God is all good and powerful he would choose to eliminate such evils. In the case of God b eing all good but not all powerful he may be unable to intervene in the evils of this world. Or if God was just all powerful and not all good one must assume he has a malicious side to him to allow all this evil. Assuming that God is all these things both powerful and good if the universe doesn’t exist in a contingent relationship to God then he has little to do with the evil. With this being said still leaves the question â€Å"why does evil exist†? The basic approaches to theodicy can be said to take three forms: logical/deductive, evidential/inductive, and existential. The logical problem of evil is a deductive one. If God is said to be all good, all powerful, and all knowing why should evil exist. Is it rational to believe in the existence of God? This is Mackie’s formulation of the problem God exists, is all good, all knowing, and all powerful. Such a being has no limits to its ability. A good being will always eliminate all the evil that it can. Evil exists, so God must not (Theodicy Overview). You can agree with the first two statements, but one might argue the third statement by making the point that a good being will always eliminate all the evil that it can unless it has good reason to allow that evil. Therefore, a modified version of Mackie’s argument looks like this: â€Å"If God exists, then there is no evil, unless there is a reason that would justify Him in permitting it. Evil exists. There is no reason that would justify God to permit evil. So, God does not exist (Theodicy Overview). † The intention behind this argument is to show that God is justified in permitting evil. The evidential problem of evil admits that God and the existence of evil are logically compatible, the concept of good and bad are known to go together. Considering the amount or various kinds of evil in the world conclude as vidence against the existence of God. This approach argues that because of the large amounts of evil in the world and the existence of unjustified evil the belief in God is not plausible. We assume that God would refuse to allow such evils to exist that fail in appearance to have any good purpose. Here are examples of these objections. â€Å"It seems that God could have eliminated more evil in the world and still accomplished the divine purposes (Matson 145). † â€Å"Is such a God who does things this way worthy of worship, and therefore, plausible (Matson 145)? With little evidence it’s hard to prove or disprove if something exists. Dealing with a being such as God we may not always be able to understand his reasoning for allowing such evils and will not always see his greater purpose for his divine moral teachings. The existential approach often referred to as the religious approach to the problem of evil is the concept of why the suffering is happening to a certain individual and why at this time or place in this individual’s life. Theodicy is now seen as practical more concerned with providing answers for those who suffer in specific circumst ances. It is often that the existential approach turns from asking why God would allow such evils to happen to instead how one can go to God in search for him to help relieve them of their problems and find ways to make suffering and evil more tolerable. The focus is on how believers should respond to God during their tribulations for example turning to faith, testimony, and worship. This is an overview on theodicy and introduces some of the main concepts that sets its foundation. Now the conflict between an omniscient God and the existence of evil seems to get very complicated. God is referred to be omnipotent, omniscient, and omnibenevolent simultaneously. If God is omnipotent this means he has power over anything and everything. If God is omniscient this means he is aware of all things that occur and if he is omnibenevolent this means he is wholly good. It would seem rational to believe that an omnibenevolent God would be of nature to relieve suffering wherever it is happening (Swinburne 67). An omniscient God would know when people are suffering, how they are suffering, and how that suffering may be relieved. An omnipotent God has the power to alleviate those who are suffering from their sufferings. So why does God allow evil to exist? Maybe God allows evil to exist because it is necessary for some greater good. For example, when a parent gives a child bad tasting medicine or has the child undergo painful surgery. From the child’s perspective they would feel as if they were being punished for something or enduring a form of evil. When this isn’t the case at all the parent is only looking out for the child’s best interest (Swinburne 100). The child shows ignorance of the parent’s reasoning for forcing him/her to undergo the temporary pain and so the child finds this treatment unjust when in actuality it isn’t. Perhaps we can use the metaphor of the child’s perception of his parent’s action to God and our perception of his creation of evil. â€Å"For we cannot deny that some good the child’s mind cannot even conceive may justify the parents in permitting the child to suffer. And by analogy, won’t the same be true of God in relation to us as his children (Theodicy Overview)? † This can conclude that we are sometimes unable to see the bigger picture of God’s purpose when it comes to human suffering. God may be teaching us the secrets behind the moral code. Like what is just and in just. We are being taught moral responsibilities and moral traits to help us reach a greater good that God possibly has in store for our lives. Some still argue that this isn’t the case at all. There are still many evils that don’t necessarily seem to produce any good or help in the counter-balance between good and evil. One incident that comes to mind is the Holocaust. It was a horrific period of time in our history where genocide occurred. It is hard to believe that an all-powerful and all-knowing God would become powerless in preventing the nightmare in Auschwitz. Also if God is omnibenevolent we would ponder on the question how can he let something so malice take place on innocent lives? Is it reasonable to believe that all evils can be explained to where they occur to result in a greater good and that we are somehow unable to always make sense of why such and such thing are happening? It is possible that a massacre shooting at a school resulting in the death of many young lives may serve to promote a greater good, but it doesn’t seem likely. Now there is a distinction between the good parent and the good God. In such cases where a child is undergoing pain which they are incapable of understanding the parent is there to reassure them of their love and give them useful insight on better understanding their situation and what it is their going through. There are numerous people who go through prolonged suffering who are consciously unaware of God’s presence. Going back to the incidents that occurred in Auschwitz it is unlikely that the majority of prisoners felt God’s love and reassurance. They most likely felt abandoned and un-loved. Many would have to question where was God during this time and what type of parent does this make him. It appears that God acted like a negligent parent with a cold heart. With that being said we can make the assumption that God doesn’t exist or the good-parent analogy fails. This argument that God allows evil to exist to show us the greater good seems to be implausible due to the fact that such horrendous evils fail to show the greater good they are meant to produce. There are two basic forms of evil which are natural and moral. Natural evil is when the world experiences suffering caused by disease, earthquakes, floods, crashes, and so on. Moral evil is when someone chooses to act ill-mannered based on human will. Now natural evil can’t be prevented and is easily misunderstood to why God allows such natural disasters to occur. Where moral evil is based upon each individual and their code of ethics, how they differentiate right from wrong. Some argue that God punishes people based on their actions because we have the ability to choose what’s good and what’s bad. This is where the free-will defense can cover moral evil, but it fails to cover natural evil. It is believed that God created man to possess free-will allowing him the freedom of choice. With the freedom of choice there becomes conflict when you have to make the decision between right and wrong. The fact that we have been taught to know what is right should benefit us when it comes to making the better decision, but that isn’t always the case. Due to the various temptations we have in our society many of us continue to fall short of the moral code. If God has made men such that in their free choices they sometimes prefer what is good and sometimes what is evil, why could he not have made men such that they always freely choose the good (Mackie 164)? † It is easy to assume that such a being as God would want his creation to be wholly good like him, but this isn’t the case at all. Some argue that if God was to have created us to always freely choose good we wouldnâ €™t be entirely entitled to freedom. If we were being forced to choose one way or the other we wouldn’t be choosing freely. Without the ability to choose what is wrong we would no longer have to worry about greed, lust, violence, and other evils because they would no longer be a choice of ours. â€Å"We would be free from temptations and only have innocent inclinations, and so could not exemplify the moral value of resisting and overcoming temptations to do wrong (Mackie 165). † In conclusion, I do believe in the rationality behind the existence of God. Just because there is a problem with evil and a disagreement to why God would allow such evils to exist I feel there is a greater purpose behind Gods plan. The evils that are apparent in our society today teaches us the value of morals and the importance in having them. We are able to step outside ourselves and our heart goes out to those we see suffering from deprivation all around the world. The idea of God being omniscient, omnipotent, omnibenevolent while there is an existence of evil seems to be problematic unless you can believe in the fact that it is possible we are incapable of comprehending all it is God is trying to teach us. For God to be unwilling to remove the devastation in this world there would have to be good reasoning behind all of this. To believe in God you are exercising your ability to have faith in a higher power. You are choosing to believe in something that has yet to be proven into existence. Faith is known to be very important to God and it is through the trials and tribulations you turn your faith towards God in search of comfort and understanding. I do believe that during the hard times God waits for us to turn to him and trust in him that he has the ability to mitigate all our problems. It is necessary to experience or witness evils in the world because it is a way for us to build our faith and come into a closer connection with God. By God creating us having free-will this allows us to choose from what is good and what is evil. We are able to establish morals and learn the virtues of life. The great thing about this is that these lessons only come if we choose to learn them. It is our choice what we allow to dictate our lives. I believe if we are ever going to be able to see or comprehend what God’s divine purpose is for allowing such evils to exist we need to become more like him. Abiding by the laws of God is an option , a choice that he has left up to us. How to cite Problem with Evil Existence of God, Papers

Othello Report Essay Essay Example

Othello Report Essay Paper In here, Othello talks about wanting to be remembered with fairness as one who loved too much, how he was tricked into extreme jealousy and as one who did not realize the worth of what he had. He expresses his desire to be recorded as the man who killed a Turk who insulted the state of Venice, and kills himself, dying on Desdemonas bed. Cassio was shocked as he had known Othello as the brave one. Lodovico then ended the tragic incident by asking Cassio to deal with the defeated Iago, asking Gratiano to guard the house leaving him with Othellos fortune. Iago pretty well convinced Othello that his wife was unfaithful. With this lie believed, he became extremely jealous and strangled Desdemona to death, realizing only too late that she is completely innocent after all. As he delivers his last speech, he reflects upon the period of his life and his service as the Venetian army. He describes his transformation from a proud soldier to a murderer. He demanded for the truth to be represented cleanly and asserts that it was his own foolishness and jealousy that caused Desdemonas death, and not the actions of Iago. From line 334 onwards was the romantic use of Othellos language. It was a speech that reestablishes his honorable nature and his greatness. We will write a custom essay sample on Othello Report Essay specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Othello Report Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Othello Report Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Othello started talking to Lodovico. I have done the state some service this line implies that Othello reminded them who he was back in the past, how he made the state proud of him and his reputation. He commanded Lodovico to record his story faithfully. I pray you in your letters the word pray could mean that he is begging Lodovico to do what Othello says. Then you must speak Of one that loved not wisely, but too well; Of one, not easily jealous, but being wrought Perplexed in the extreme With these lines, Othello reviews the plays dramatic arc. Its brings back how Othello used to be in the beginning of the play, before the whole incident occurred. At the beginning of the play, he is a hero, proud, and dignified. His downfall was due to someone which he could not really control Iago. Like base Indian, threw the pearl away This was referring to Othello himself as he was a black just like an Indian. Base Indian could be the American Indian who did not value precious stones. Othello referred himself to an Indian because he did not recognize Desdemonas true value. Othello then breaks down into tears, something which he is not used to. Albeit unused to the melting mood He allows himself to express sadness at his own fate. Drop tears as fast as the Arabian trees This indicated that Othello is having a real heartfelt break down, as he emphasizes that tears were coming down faster than normal, despite that he probably never broke down and cried before. Othello told Lodovico to record his tears, tells him how he once came upon a Turk beating a Venetian and violently killed him. There is a bit of contradictory here. In the beginning of the play, Othello was far more than black but now he has turned Turk and become a true racial outsider. In line 351, the circumcised dog these words sounds ultimately wrong to describe Othello. He could mean himself being betrayed, being a fool, being too gullible, being dumb all these words being put together. He then killed himself: And smote him, thus. It was the same way as the Turk being killed, as mentioned above. In this passage, there were also some words of racism such as Indian, Arabian and turbaned Turk. All these words were being referred to Othello himself when he made his speech. His final words summarized his position at the end of the play, regaining his composure. He started from a noble figure and dies as a murderer. His last speech emphasizes the tragedy of his downfall and perfectly encapsulates the themes of the play. Gratiano indicates that Othellos speech was something unexpected, something which he would never expect to hear coming out from Othellos mouth: All thats spoke is marred. This was probably because Gratiano never expects Othello to be in that state where he gives everything up. As he is dying, he says that he kissed Desdemona before he killed her with regret and sadness. This suggests that perhaps his love for her flickered briefly within his dark soul before he murdered her. He reminds himself that perhaps he was not wholly corrupt, but he dies knowing that his soul is lost. Lodovico speaks to Iago with harsh words. He called him a Spartan dog which meant savagery. More fell that anguish, hunger, or the sea He said that Iago was crueller than anguish, hunger and the sea. They are 3 totally different words that Lodovico that is used to compare Iagos cruelty. This emphasizes that Iago is inhuman, being crueller than anything else. The object poisons sight; Let it be hid. He referred to the sight of Othello slumped against Desdemona on bed as an object as they are already dead. The word poisons could also be referring to Iagos cruelty and unfaithfulness. He wants it not to be seen as not to let anyone be reminded of Iago. He also told Gratiano to grab hold of Othellos possession. As they succeed on you. He thinks Gratiano is the most capable one. Lastly, he told Cassio to decide what to do with Iago, which he referred to as the hellish villain, again emphasizing his cruelty. The next few lines of Lodovicos speech were sad words that ended this whole tragedy. He said he must return to Venice and with heavy heart relates this heavy act. He described both the heart and act heavy indicating the disaster Iago had caused. The speeches made at the last part of the play were all miserable. Othello made his last speech in that way because he wanted the audience to know who he really is before he dies. He speaks about his past service to the Venetian state and he describes himself not as a barbarous foreigner but as one who loved not wisely but too well, as one who was preyed upon and as one perplexed in the extreme. He has accepted what has happened and is willing to punish himself for it.

Online Recruitment

Online Recruitment Online RecruitmentHuman Resource ManagementTable of ContentsIntroduction3Online recruitment defined3Advantages of online recruitment.4Disadvantages of online recruitment..5Online Recruitment techniques..6Online Recruitment Experience .7Conclusion..7IntroductionAlthough one of the latter steps in the recruitment process, the choice of its recruitment tool remains fundamental for any company. The choice of the recruitment method requires that the organization goes through an elaborate procedure considering the cost of reaching the target group, the time scales involved, the fit with the organizational culture and the opportunity presented to enhance the organization's public relations. One of the newest recruitment tools at the disposal of employers is online recruitment.Online recruitment definedThe terms online recruitment, e-cruiting, cybercruiting, or Internet recruiting, imply the formal sourcing of job information online. According to Chartered Institute of Personnel and Developm ent (CIPD, 2007), it is the use of technology to attract candidates and aid the recruitment process.English: "The trumpet calls", an Australian Army r...(Refer to reference 1 for CIPD).CIPD (2007) states that the most common ways to use the Internet as a means to recruit are:To add recruitment pages to the existing organization site. It is a very common practice at the moment and its major advantage, namely the minimal cost associated with developing a page on the corporate site, puts it forward as the smartest way to recruit on the Internet.To use Web sites specialized in recruiting employees, like "online recruiters", "job portals", "online job boards" or "job agencies". Those sites ultimately act as mediums that connect the companies with potential applicants. The dedicated recruitment Web sites can take the form of job listing Web sites, which are very similar to printed classified advertisements; work-wanted sites, which emphasize the prospective employee's side; and, finally, online recruiters who make use of other Web sites as a resource for...

How to Practice Lateral Thinking

How to Practice Lateral Thinking Lateral thinking is a term developed in 1973 by Edward De Bono, with the publication of his book Lateral thinking: creativity step by step. Lateral thinking involves looking at a situation or problem from a unique or unexpected point of view. De Bono explained that typical problem-solving attempts involve a linear, step by step approach. More creative answers can arrive from taking a step â€Å"sideways† to re-examine a situation or problem from an entirely different and more creative viewpoint. Imagine that your family arrives home from a weekend trip to find Mom’s favorite vase broken on the floor beside the dining room table. Close examination shows that the family cat’s paw prints are clearly visible on the table top. Naturally, the family cat is in big trouble- right? The logical assumption would be that the cat was walking around on the table and had knocked the vase to the floor. But that is a linear assumption. What if the sequence of events was different? A lateral thinker might consider that the vase broke first- and then the cat jumped onto the table. What could have caused that to happen? Perhaps a small earthquake had occurred while the family was out of town- and the chaos caused by the trembling floor, the odd noises, and the crashing vase had caused the cat to jump onto the furniture? It is a possible answer! De Bono suggests that lateral thinking is necessary for coming up with solutions that aren’t so straightforward. It is easy to see from the example above that lateral thinking comes into play when solving crimes. Lawyers and detectives do employ lateral thinking when attempting to solve crimes, because the sequence of events is often not as straightforward it first appears to be. Students can find that lateral thinking is an especially useful technique for the creative arts. When writing a short story, for example, lateral thinking would be an effective tool for coming up with unexpected twists and turns in a plot. Lateral thinking is also a skill that researchers use when evaluating evidence or interpreting sources.

Foreign country Essay Example | Topics and Well Written Essays - 500 words

Foreign country - Essay Example As a late comer in the industry, it is prudent for the company to seek ways to elevate its performance toward the standard benchmarks set forth by its forerunners. In simple terms, benchmarking can be defined as â€Å"learning from the pros† (American Productivity & Quality Center, 1993). Benchmarks are very essential for organizational operations in that they lay in the open the processes that hold the keys to a successful business take off and the subsequent operations. Through such standards, a business venture Lodgit Courier will identify and adopts a mix of practices of top performers that will in effect define the course that the business initiative takes. Put quite simply, benchmarking is the art of finding out straightforward organization and implementation strategies that leads to success. The concept engenders comparative efficiency to other industry key players with the intent to know the exact processes, procedures, and/or technological applications principles that can results in the production of superior outputs (Ammons, 1996; Camp, 1989). Since businesses are all about competition, benchmarking plays a very important role of measuring specific performance gaps that could be used to gain competitive advantage (Boxwell, 1994). Indeed, it is â€Å"not a cost to be avoided, but a tool that when utilized properly can result into quantum leaps in organizational performance" (Dodd and Turner, 2000). Given that this joint venture business, it would take an influential positive stand to convince colleagues that certain standards have to be met for the company to remain competitive in the industry. It is also essential to note that group of investors can consistently utilize a common investment strategy and emerge victorious. As leant in the analysis of market efficiency, market outcomes are not always efficient to all investors due to the cost of information which may lean towards those with the capacity to acquire such, if at

Theory of Constraints Assignment Example | Topics and Well Written Essays - 250 words

Theory of Constraints - Assignment Example h a difference of four minutes, it means that the first customer to be served will leave when the last customer is left with 24 minutes to leave because the total time that is being lost before the servers finish with their last customer in the first round of 12 is 24 minutes. And suppose there is an increment in the number of servers then there will be decrease in time lost with increase in the number of customers served which is directly proportional to increase in general income of the process(Jacobs, Chase & Lummus, 2011). If the average cost per meal is 10$ then it means that in the first 50 minutes the process shall have generated 120$ and in the first 1 hour it shall have generated 144$. For a better understanding of that calculation the figures are tabulated as shown bellow Increment in the number of customers can comfortably accommodate by increment in the number of employees by a positive figure of one and at the same time the current employees must adjust their level of performance for the general success of the process(Jacobs, Chase & Lummus,

Role of Asset Securitization in Present Financial Crisis

Role of Asset Securitization in Present Financial Crisis Abstract Banks, to get rid of illiquid assets they posses and to attain financial freedom in lending, searched for new innovative techniques. This innovative method of converting these illiquid assets in to liquid assets technique is called asset securitization. Banks pool up these illiquid assets like mortgage loans and sell it to agencies called as special purpose vehicle (SPV). These special purpose vehicles convert these loans in to securities and sold to investors. Before agencies sold these securities they got it rated from rating agencies. Asset securitization as a process reduced information asymmetries; increased financial slack; served as a lower cost of financing source; reduced regulatory capital; and reduced bank risk. The process of asset securitization as a whole has many advantages but by the end of year 2007 it started to crack with financial crisis. It is therefore necessary to study what went wrong in the process of asset securitization that lead to financial crisis. The study analyzes the role of asset securitization in financial crisis by analyzing the economics of asset securitization process as whole. Then in depth analysis of credit rating agencies methodologies and economics of how they rate these securities is studied. As it is difficult to analyze the rating processes and methodologies of all rating companies in this thesis I have decided to analyze Moodys investor service. Moodys has been selected because its name is synonym with quality in the market. The growth and fall of mortgage industry performance of mortgage industry have been analyzed. The factors that led to financial crisis have been analyzed. The study analyze the moodys rating methodologies and rating models and updates to rating models. The short comes in rating methodologies and rating process has been discussed. The rating models updates effect on default rate of rating has been analyzed. Finally the effect of these default rates on financial crisis has been studied and analysis of role of asset securitization in financial crisis is studied. Chapter 1 Introduction The process of asset securitization started in the year 1870 when Government National Mortgage Association (GINNIE MAC) purchased pools of loans and converted in to securities and sold these securities to investors. In the year 1970 special innovative technique called tranching were used to distribute losses involved in these pools of loans backed by mortgages and sold to investors. Kaptan and Telang (2002) Asset securitization is the process of converting illiquid assets in to cash flows. Both financial intermediates such as banks and investors benefited from this process. Banks benefited with extra liquidity to lend more loans to able borrowers where as investors got opportunity to invest in capital market for more returns. In the process of asset securitization, rating agencies rating securities is crucial because rating influence the marketability of the securities. There are many rating agencies which rate Residential Mortgage Backed Securities, of these three largest credit rating agencies with overseas market that are based in United States are Moodys, Standard and Poor (â€Å"SP†) and Fitch. These rating agencies use statistical models to analyze risk involved. Rating agencies constantly review performance of these securities and according to performance they upgrade or downgrade rating. To lessen the effects of a mild recession in 2000, the Federal Reserve cut interest rates. This interest rate cut along with increasing housing price made people to invest in housing this helped to drive growing demand for nontraditional mortgages products. Banks have extra liquidity to lend more loans to borrowers and started to lend more and more loans to non prime borrowers, which led to poor performance of loans and in turn effected whole asset securitization. This report will explore what is the role of asset securitization in financial crisis. In order to research what is the role of asset securitization in financial crisis the following have done 1. Analysis of asset securitization process 2. Analysis of Evolution of financial crisis 3. Analysis of Rating agencies methodologies and procedures in rating process. The details of analysis techniques are explained in methodology chapter. And extensive literature review is done to get hold of the subject. Finally in depth analysis has been done to reach the goal of the report. CHAPTER-2 Professional And Academic Context 2.1 Asset Securitization Kaptan and Telang (2002) defined Asset securitization as an innovative process which channelizes flow of funds from investors to issuers in efficient manner. In simple words, the process of asset securitization starts with financial institutions like banks which pools up individual loans and create securities against them. These securities are rated and sold to investors. In words of these authors, asset securitization is the process of converting assets in to securities and in turn in to liquid cash. Origins of securitizations can be traced back to 1870`s where Government National Mortgage Association (GINNIE MAC) started selling securities that are backed by pool of mortgage loans. These securities were named as mortgage pass through securities. This process of securitization has changed in 1970 where new innovative concept of tranching was introduced in issuing the securities (tranched securities). These tranched securities are sold to investors. Kaptan and Telang (2002) (Uzun and Web, 2007) makes understanding of asset securitization more simple through an illustration of the process of asset securitization, banks which are financial intermediaries in capital market has various types of assets such as mortgage loans, car loans, leasing contracts etc on their balance sheets. These assets are not marketable so these are illiquid assets. Banks, to get rid of these illiquid assets and to attain financial freedom in lending search for new techniques. This innovative method of converting these illiquid assets in to liquid assets technique is called asset securitization. So asset securitization plays a major role in converting these illiquid assets in to cash flows (liquid assets). Uzun and Web, also provide information on what kind of assets the banks securitize. These authors explain this as, the process of asset securitization starts with banks deciding which assets they want to securitize for example mortgage loans. Then bank pools these mortgage loans and sell it to trustee or separate entity which is called special purpose vehicle. (Uzun and Web, 2007) Role of Special purpose vehicle (SPV) is explained by the Securities and Exchange Staff (2008) as, SPVs either government backed agencies or private agencies such as Fannie Mac, Friede Mac, Ginnie Mac buys these loan pools and are entitled to interest and principal of underlying loans in the pools. Then SPV issues different classes of securities known as tranched securities backed by pool of loans. The role of SPV is to separate risk of newly created securities from the origin bank loans. If these SPV are not there it is very difficult to assess the risk involved with those securities underlying the loans. It is difficult to access risk because risk involved is closely related to origination bank practices. Information of origination bank practices such as how they lend loans what documentation they check before issuing loans and credit quality of loans. Securities and Exchange Staff (2008) conclude that these securities issued from this SPV isolates the risk involved from origination bank. Investors invest on these securities and investment risk is directly interrelated to credit quality of loan borrowers whose loans are offered as collateral for the securities. To boost the demand for these securities the SPV enhances credit quality by process called over collateralization and subordination. Over collateralization, is the process in which credit quality is improved by giving payment guarantee by insurer. So if there is any principal or interest default it is insured there by making investors clear in mind that there is no risk involved in investing in these securities. Over collateralization is one way of credit enhancement but the principle way of credit enhancement is done by subordination. In subordination process SPV issues different layers of tranches (securities) such as junior, mezzanine, senior tranches. If the trust experience any loss in interest or principal payment, lower most tranches, junior tranche absorb all the losses and then mezzanine tranche absorbs any more remaining losses that are left over by junior tranche leaving top most tranches, senior tranche safe from any kind of losses. So senior tranche is safe from all interest and principal default. So by process of tranching top most tranches (securities) get more demand from investors and demand reduces when it goes down the ladder up to junior tranches. Junior tranches are backed by over collateralization for its marketability in capital market. The process of tranching differentiates structured finance from normal securitization process. In normal securitization process assets are converted into securities and sold. In structured finance these securities are tranched so that at least one class of securities gets better rating when compared to average rating of all securities. The asset securitization makes calculation of risk more complex using technique called tranching. The calculation of risk is more complex because the risks involved in these pools are distributed.( Securities and Exchange Staff) (2008) Asset securitization is the process of converting illiquid assets in to cash flows (liquid assets). Both financial intermediates such as banks and investors benefited from this process. Banks benefited with extra liquidity to lend more loans to able borrowers where as investors got opportunity to invest in capital market for more returns. Kaptan and Telang (2002) In brief benefits of asset securitization are reducing information asymmetries; increasing financial slack; serving as a lower cost of financing source; reducing regulatory capital; and reducing bank risk (Greenbaum and Thakor, 1987) (Kaptan, Telang (2002), (Uzun and Web, 2007) conclude that asset securitization is the process in which illiquid assets of banks are converted into cash flows or liquid assets. (Greenbaum and Thakor, 1987) conclude these techniques of asset securitization as benefits for banks as well as for investors in capital market. Securities and exchange staff concludes the process of credit enhancement using process called subordination distributed risk of loss in the whole tranche. And the process of over collateralization increased demand for these securities in capital market. Securities and Exchange Staff (2008) concluded that the process of tranching evenly distributed risk and assessing this risk is a complicated process. 2.2 Rating Agencies The main role of rating agencies in capital market is to rate the bonds and securities in specific scale. Rating agencies use qualitative and quantitative methods to access cash flows of these bonds or tranched securities. These ratings are used by investors in capital market as bench mark in investing. Thus rating agencies helped the investors in making decision to invest in capital markets by reducing information asymmetries between issuers and investors. (Committee on the Global Financial System), (2005). 2.2.1 Evolution And Role Of Rating Process According to Ruth Rudden, the evolution of rating industry started when there was a big demand for the corporate bonds in USA. The investors interested to invest in these corporate bonds were very skeptical about risk involved as they were not provided with companys credit information that issued these bonds. So there was a pressing need for an independent and third party institution to analyze credit risk of these bonds which helped the investors in making decision to invest according to their criteria. Thus credit rating agencies came into existence. (Ruth Rudden, 2007), John moody was the first to introduce credit ratings in 1909. He used rating scale to rate the bonds. These ratings were useful for investors to understand credit risks. Credit rating agencies (CRAs) stressed more on expected cash flow generated by the issuer (special purpose vehicle) ongoing business in determining the rating. In general CRAs revenues were generated from subscribes who subscribed to receive rating on debt securities. Rating agencies from the start has been rating bonds on specific scale. Mason and Rosner, concluded that the rating doesnt give information on whether particular bonds must be bought or sold. They give their opinion on relative safety of the bonds. (Mason and Rosner, 2007) The main importance for the credit ratings rose in the capital market because of US treasury department. US treasury department said the quality of the bonds rated by rating agencies is appropriate. Ruth Rudden, concluded that the importance of credit rating agencies in the capital market became prominent and the investors relayed on these ratings to invest on the bonds. (Ruth Rudden, 2007) Then with the introduction of new structure finance products, rating agencies started to rate these products as well. In one of the reports by the Committee on the Global Financial System, (2005), wrote about the Rating agencies, rated the structured finance products like asset backed securities, CDOs, RMSBs etc, same as the traditional bonds. Rating agencies performed the same function as with traditional bonds that was reducing information asymmetries between issuers and investors. Committee on the Global Financial System, (2005) Issuers of structured finance products wanted these securities to be rated on the same scale as traditional bonds so that investors think structured finance has same kind of risk that of bonds. (Mason and Rosner, 2007) spoke about the structured finance as, for past few years with the introduction of newly formed structure finance products; these CRAs are chasing the agencies that issue these structured finance products instead of subscribers for revenue. This lead to three fold increase in the revenues by CRAs and effected the integrity and base source of the aim on which rating industries are build. To meet the demand of these newly introduced structured finance products; CRAs have introduced many new models and approaches to access these products for ratings. (Mason and Rosner, 2007) The three largest credit rating agencies with overseas market that are based in United States are Moodys, Standard and Poor (â€Å"SP†) and Fitch. 2.2.2 Rating methodologies of RMBS According to (Rousseau Stephane, 2009), all the rating agencies methodologies are almost same for rating RMBS products. First issuer of these securities approach rating agencies to rate their securities so that they can sell it in capital market. And issuer provide all the data information of the assets underlying the securities like loan data, proposed capital structure of SPV, proposed credit enhancement for each tranche of the securities. Rating agency will assign an analyst to analyze the tranches for rating it. First probable looses incurred on all tranches are calculated. Rating agencies used complex statistical models for analyzing loss. The loss analysis gives rough idea of how much credit enhancement is required for each tranche to give particular rating. Then analyst analyzes proposed capital structure of SPV to check whether it meets particular rating. Then finally analyst analysis the cash flow which gives information of interest and principal paid out of SPV and analyzes whether particular asset which is under tranche meets payment obligation. Analyst then rates each tranche and submits his rating to committee where they vote on the analyst view. Once rating is confirmed they send the rating to issues rather than publishing it. If the issuer is satisfied with the rating he makes it public. If issuer makes rating public, rating Agencies get paid if not they get breakup fee. (Rousseau Stephane, 2009). 2.2.3 Concerns on models used in RMBS According to (Danà ­elsson J, 2002), Rating traditional bonds is much easier because of availability of historical data where as rating structural products like RMBS you need much more complex models than that of normal models. As the financial system become more complex, the need for complicated statistical models becomes greater. More the complexity, lesser the reliability on these models, so does these models tends to be less reliable. It is clear from the credit crisis of 2007 that the rating agencies used over optimistic input data, inappropriate modeling and insufficient checking of data quality and permitting gaming of models. Despite of advanced models, stress tests, and all the numbers, risk models do have important role to play in modeling risk as long as its limitations are known. Risk models are good at managing particularly trading desk but when asked to model whole institution it fails. So relying on such folly statistical models to model risk is foolishness. And the numbers that these models give are inappropriate. Financial models are not simple and do not have basic or fundamental thermos to build on. These models can easily make you believe the results are accurate, the reason for these are; 1. Endogenous risk: In finance we can only model aggregate behavior. Financial modeling changes the statistical laws governing the financial system in real-time, leaving the modelers to play catch-up. This becomes especially pronounced as the financial system gets into a crisis. This is a phenomenon is called endogenous risk. 2. Quality of assumptions: we cant take it to consideration all parameters in to model so it is important to take it to consideration the main parameters that affect the outcome of the model. For example if we consider present situation of financial crisis the main parameter is liquidity which has been be ignored by modelers while modeling risk. 3. Data quality: data quality is the most and foremost important thing in statistics because the accuracy of these models depends up on quality of data. (Danà ­elsson J, 2002) To prove what Danà ­elsson J, said Vanessa G. Perry proved, there is always dearth of data on subprime market. The data that is available is proprietary lender data. And this data had drawbacks on analysis of market trends. To analyze data properly we need property records which contain information on mortgagee and mortgager, transaction price, property location, credit score, foreclosure rate of neighborhood state. This data was necessary for the rating agencies to analyze the market condition properly. Roughly to analyze loan performance, three sets of data was taken into consideration, that is the Borrower data, loan data, property data. Borrower data should contain income, FICO score, and demographics. The loan data should contain loan amount, LTV, loan type, interest rate/fee, terms such as FRM/ARM, payment history. Property data should contain location, prices, sales, foreclosure, and employment rate. One can predict the probability of default if and only if these data of loan is available. (Vanessa G. Perry, 2008). 2.2.4 Concerns on rating in RMBS According to (Committee on the Global Financial System, 2005), and (Mason and Rosner, 2007) there are many concerns on rating agencies which rated the RMBS, they are; 1. Transparency- Given the role that is played by rating agencies in removing Asymmetries, it is important that they be transparent on what they do. Rating agencies never disclosed completely their methodologies they use to rate RMBS and key assumptions and rating criteria. Credit rating agencies never accepted that the data provided by issuer of securities are not sufficient to rate. And rating agencies never provided historical performance data about their ratings. 2. Quality of rating process- there is a huge growth in RMBS market because of ease in lending loans. And at the same time these RMBS products started to get more complex. The rating agencies did not have enough staff to tackle increasingly complex products and huge volume of these products. Because of shortage of work force these rating agencies were not able to catch up with rating upgrades or downgrades accordingly with change in circumstances like issuers principal or interest short fall. 3. Conflict of interest- the rating agencies main role is to act as an intermediate between investors and issuers. This trust of being intermediate has been broken by rating agencies by charging issuers for rating products instead of getting paid by subscribers who subscribe for these ratings to invest in these products. Because of shift in the axis of being intermediate, these rating agencies got paid from issuer who in turn profited rating agencies by gaining millions of dollars. This process of issuer paying for his rating created conflict of interest. So considering profits they incur from this new role, rating agencies tend to rate products issued by these issuers a higher rating than they actually are. The issuer has ability to adjust deal structure to get desired rating. And issuer has influence on rating process. (Committee on the Global Financial System, 2005), (Mason and Rosner, 2007). 2.2.5 The role of rating agencies in the crisis According Tom Bulford (2008), (Ruth Rudden, 2007) â€Å"The credit rating agencies like Moodys, Standard and Poors and Fitch played a central role in growing the residential mortgage-backed securities, these credit rating agencies were titled to rate these securities on behalf of the huge investment banks to sell to the investors. The ratings of these securities were to identify the risk involved in the securities, they followed a particular three main flow in calculating the risk rating for the investors, the first as to interest the investors on the securities, they provided portfolios of RMBS which highlighted a certain level of risk involved in it, this was done through tranches which means, the different level of risks involved securities were put into different groups called tranches. This helped the investors in deciding whether to stay first in line during the event of default or down the queue. This was one point where the investors relayed on the ratings to invest on the securities. The other two things which they followed to rate the securities, one was data which was used in the financial models of the rating agencies to rate these securities, the data contained here are the information about the mortgage loans that are parceled by the investment banks. These mortgages came from the originators who provided all the information about the mortgagees like their credit history, income, etc. hence these originators provided information was historical. The information given source was not sure about as they stood by the words of the originators. Using this information on the models they used in the rating would off course end up being inaccurate. This made the investors relaying on the high rating given by these rating agencies and hence invested confidently. The rating agencies assured that the portfolios of mortgage backed securities were â€Å"stress tested† by ‘Monte Carlo simulation of macroeconomics variables to create a loss distribution. The assumptions were not wide enough because the rating agencies relied upon historical data, and till now MBS were concerned ‘the performance history that did exist occurred under very benign economic conditions. The reasons just dont stand on rating agencies following the historical data for the calculations but also the workload and the conflicts when the interest rates rose which laid the investment bank concentrate on getting the best ratings on the securities that is laid for sale. This increased the competition between the agencies; they did not want to lose deals and hence gave ratings as necessary with one initiative that was not to lose deals. One of the illustration proves the above comment, one of the member in an rating agency who did not want to lose a deal wrote a mail which said â€Å"I had a discussion with the team leaders here and we think that the only way to compete is to have a paradigm shift in thinking, especially with the interest rate risk†. Another said â€Å"We are meeting this week to discuss adjusting criteria for rating CDOs of real estate assets because of the ongoing threat of losing deals†. Tom Bulford (2008), Tom Bulford (2008) concluded that the roles of these rating agencies in financial crisis are to be studied thoroughly. Rating agencies main duty is reducing information asymmetries between issuers and investors but with the introduction of structured finance products rating agencies deviated from their main role of reducing information asymmetries. In fact they started to favour security issuer as they are paid for rating. Committee on the Global Financial System, (2005) concluded that role of rating agencies in capital market is to rate bonds or securities on specific scale. (Ruth Rudden, 2007), (Mason and Rosner, 2007) concluded that the importance of credit rating agencies in the capital market became prominent and the investors relayed on these ratings to invest on the bonds and the rating doesnt give information on whether particular bonds must be bought or sold. They give their opinion on relative safety of the bonds. The rating agencies got paid by issuer of securities for rating structured finance products on same scale as normal bonds. Tom Bulford (2008) concluded that change of role by rating agencies as information intermediation between issuer and investor got strained with the introduction of structured finance products. (Danà ­elsson J, 2002) concluded that to rate structured finance products rating agencies need more complex models. (Vanessa G. Perry, 2008) concluded that there is no enough historical data on subprime market and in turn this dearth of data affects accuracy of the rating process. Committee on the Global Financial System, (2005) concluded that there are some concerns relating rating process of RMBS. Tom Bulford (2008) concluded rating agencies had played their role in financial crisis and need to be blamed for their irresponsible behavior. 1.3 Subprime Crisis The roots of financial crisis are complex and obscure. The main culprits are mortgage banks brokers, rating agencies, to some extent federal reserve and government. Financial crisis started with Federal Reserve slashing interest rates to encourage spending and reduced 30-year bond issues to increase the prices. This along with American dream of home ownership triggered housing boom. This housing boom has been used by many mortgage lending banks. The introduction of FICO scores instead of traditional point based system and the off-balance sheet vehicle made lending loans easy. Loans were given to people with low credit history (sub-prime loans) Souphala, C and Anthony, P.C, (2006) 1.3.1 Evolution of the crisis According to Souphala, C and Anthony, P.C , (2006), the introduction of FICO scores instead of more traditional â€Å"point based system† credit scoring. And the off balance sheet vehicle (OBSV) made banks to lend loans to people with low credit score. This type of lending is called subprime where these borrowers are who fail credit history requirements in the standard (prime) mortgage market. The subprime lending is known as high cost lending and primarily driven by credit history and down payment where as prime lending is driven by down payment only. People thought prime lending is complicated but have great promise and great peril. The subprime lending provided opportunity for homeownership to those who havent passed credit history in the past. Lower credit history of subprime lending which could have resulted in more delinquent payments and defaulted loans. US mortgage market, which for decades was dominated by fixed rate mortgages, included nontraditional mortgages, simultaneous second-lien mortgage, and no documentation or low documentation loans. Nontraditional mortgages allow borrowers to defer payment of principal and sometimes interest and include interest only mortgages (IOs) and adjustable rate mortgages (ARMs) with flexibility payment options. Interest rates are much higher than that of prime loans, is the main reason of risk for borrowers. Strong home price appreciation and declining affordability have helped drive growing demand for nontraditional mortgage products that can be used to stretch home buying power. Souphala, C and Anthony, P.C , (2006). 1.3.2 Role of US federal government National partners in home ownership in the largest private public partnership program whose solo aim is increasing home ownership rate to all time high by the end of decade by increasing creative financing methods for mortgage loans. In this program, retailer, home builders, Fannie Mac, Freddie Mac, mortgage bankers are the partners who came up with innovative ideas such as using FICO score instead of point based system is introduced to ease the requirements to lend loans to people whose credit history is not good to get mortgage loan. Another innovation is off balance sheet vehicle which made lending loans easy. (Mason and Rosner, 2007) According to Souphala, C and Anthony, P.C , (2006),The government and the quasi-government agencies were main reason who influenced the US mortgage credit cycle by their legislative reforms and the mandates, the alternative mortgage transaction parity act in 1982 eliminated regulatory disparities between state and federal chartered mortgage by granting state chartered institutions the authority to issue alternative mortgage(sub-prime), including the use of variable interest rates and balloon payments, regardless of state mortgage lending law. The tax reform act 1986. Then stimulated demand for mortgage debt by retaining the deduction for home mortgage interest. To lessen the effects of a mild recession in 2000, the Federal Reserve cut interest rates. Although the Fed has raised interest rates past year, mortgage rates have largely been unaffected. This interest rate cut along with increasing housing price made people to invest in housing. Home ownership is best way of making wealth in fact most households find it difficult to invest in anything but their homes. These factors helped to drive growing demand for nontraditional mortgages products that can be used to stretch buying power. Souphala, C and Anthony, P.C , (2006). 1.3.3 Financial Market Turmoil Due to poor standard of lending there has been raise in subprime loans, the delinquency rate increased in the year 2006-2007 because of subprime loans issued in previous years. The overall rise in delinquency rate is sudden and overwhelming. The market started to response to these high delinquency rates in the second half of 2006 and first half of 2007. In spite of high delinquency rate, market had confidence on highly rated tranches of subprime RMBS (senior tranches). In the second half of 2007 this confidence came to its low when credit rating agencies lowered their rating on highly rated tranches. These downgrades created uncertainty and doubt on quality of rating these rating agencies assigned. With more exposure to risk related to subprime debts, restricted liquidity of banks, the inter market for term loans was effected so there was a sharp increase in risk premium. These authors concluded that banks lost confidence and have less liquidity. This resulted in present financial cr isis. The result of this is freezing all structured finance products and cut down in non confirming mortgages. This is because of those agencies giving non confirming mortgages had lots of loans and RMBS which were

Explain the significance of Marco Essay

In the play, Marco is very important. After all, he was the one person who killed Eddie Carbone which is the main event in the play. When Marco comes into the play for the first time, he is proven to be the most mature brother who has a quality life worth living. â€Å"What can I do? The older one is sick in chest. My wife – she feeds them from her own mouth. I tell you the truth; if I stay there they will never grow up. They eat the sunshine.† Having children, Marco might feel they are a motivation to earn money to keep them alive as well as himself. The reason Marco came to Brooklyn, America to help and pay for food for his family as he would send money back to his wife in Italy to care for them. â€Å"My wife – I want to send right away maybe twenty dollars †¦ because I could send them a little more if I stay.† Marco knows he has an obligation to Eddie and is trying to be good so he can stay in America in the house to earn money for his family. So to make sure he can stay, he is trying not to let Rodolph ruin his chances either by doing ridiculous tasks like singing which Marco thinks is inappropriate at the time so tells him, â€Å"No – no! †¦ You’ll be quiet †¦ You’ll be quiet. He also thinks Rodolph should tame himself down. ‘’They paid for your courage. The English like courage. But once is enough.’’ He is loyal and strong. He thinks before he acts which gives the impression that he is focused. He only punished Eddie by killing him as he felt threatened which is not a selfish action. He is the antagonist in the play and the Sicilian avenging angel that Alfieri hints at his comment to the audience. â€Å"A man works, raises his family, goes bowling, eats, gets old and then dies. Now, as the weeks passed there was a future, there was a trouble that would not go away.† Marco is also very important to the play as he is very respectful towards Eddie to begin with. Marco is willing to do any work to support his family as he is very proud of his wife and he is grateful to Eddie for his help and for giving him the opportunity to live in his home and work down the docks. Marco is realistic and tries to control Rodolpho’s exaggerations to keep them out of trouble. Even though during the play, Marco is furious and vengeful to some of the things Eddie does like snitching on them to the immigration officers; He is responsible, respectful, strong but silent towards his family, Eddie, Beatrice and even Catherine. Marco tries to bridge the increasing gap between Rodolpho and Eddie however as soon as Marco feels offended by Eddie he feels he needs to prove his strength and authority to him by lifting a chair up by one leg by one arm which is he successful in whereas Eddie cannot lift the chair. Marco if a family man because even though Marco cannot understand American justice when Alfieri tried to explain it and promised Eddie he will not betray or harm him if he promised the same, he did not apologise to Eddie as his honour means everything to him. As Marco will probably get deported back to Italy for immigration and killing Eddie, he is happy that Rodolpho has a chance of a green card a family with Catherine.

Accounting, Finance, Marketing, And Business Management

We investigated the different industries in business and the different skills associated with these industries. We decided to research accounting, finance, marketing, and business management. Each group member conducted an interview with an employee who had experience in the specific industry. We explored a variety of concepts particular to each industry, ranging from different careers in the industry to some of the pros and cons of industry. Our main goal was to communicate how certain industries differ from one another and to provide information on what industries may best fit a student’s interest. Accounting is known as the language of business because it involves communicating information needed to evaluate a company s financial performance. Accountants prepare and examine financial records, snapshots of a company’s current financial performance. Firms begin recruiting during a student’s sophomore year, offering an internship which can eventually turn into a job offer. It is standard to join a public firm (ideally a Big 4 firm) after college to gain significant experience in addition to creating a great network of clients and colleagues. Accounting majors also have the opportunity to work for private companies, which provides a less stressful working environment with significantly less hours. On a day to day basis, an accountant will often be outside the office, examining the financial statements of a company, checking their IT systems, and interviewing employeesShow MoreRelatedEssay on MBA detail course outline1314 Words   |  6 Pages(Evening): 1.5 years (Quarters, 3, 4, 7, 8 14) General Management 1st Quarter Effective : Spring Quarter 2011 Human Resource Management Finance Accounting Banking Finance †¢ Organizational Communication †¢ Organizational Communication †¢ Organizational Communication †¢ Organizational Communication †¢ Principles of Management †¢ Principles of Management †¢ Principles of Management †¢ Principles of Management †¢ Research Methods †¢ Research Methods †¢ ResearchRead MoreUniversity of West Alabama927 Words   |  4 PagesLivingston Division of Online Programs - Business Programs With a longstanding tradition of offering quality education for over 175 years, the University of West Alabama branched out in the fall of 2002 and began offering online educational programs. Since then, online education has taken off at UWA. With an easily customizable format and flexibility to suit a diverse set of student needs, UWAs business programs are at the ready to prepare Alabama with future business leaders. In fact, UWA is the firstRead MoreThe Mission Of The Accounting And Financial Functional Area1266 Words   |  6 PagesThe mission of the Accounting and Financial Functional Area is to effectively and ethically fund the operations of our company. To facilitate our growth and to provide the necessary control of costs that will allow our business to flourish domestically and in new foreign markets. In order to achieve the five year goal of a 100% increase in the production of our coffee cup, as well as to expand the distribution of the product both to new domestic markets and foreign markets, the A F group willRead MoreImplementing Enterprise Resource Planning ( Erp ) Systems1441 Words   |  6 Pagesâ€Å"In the mid-to-late 1990s, companies began implementing enterprise resource planning (ERP) systems to automate, standardize, and integrate their business processes for effective planning and control.† (Bradford, 2015) A major component of this ERP system is a single all-encompassing database that Bradford refers to as, â€Å"a single source of the truth.† (pg. 1) Essentially, what this means is that employees in various departments of an organization will input data essential to their core activities;Read MoreScript on Annual Day Function1580 Words   |  7 PagesFinancial Accounting Auditing : Paper-III - Financial Accounting. Economics – Paper III. Business Management : Paper III- Management Organisation Development. Commerce: Paper III- International Business Relations. Quantitative Techniques : Paper III-Mathematical Methods. Banking Finance : Paper III- Introduction to Banking in India. 11:00 a.m to 02:00 p.m. Financial Accounting Auditing : Paper-III Financial Accounting. Economics – Paper III. Business Management : Paper III- Management OrganisationRead MoreMis System Form Functional Perspective763 Words   |  4 PagesInformation Systems from a Functional Perspective: Each management level has a special type of information system that best serves its needs. Each management level also consists of individual functions that require specific pieces of information according to their mission. Keeping in mind the four types of information systems we just reviewed; lets look at the information system requirements for each individual function. From the Function point of view organization can be divide Information SystemsRead MoreSelf Assessment1238 Words   |  5 Pagessucceed. 4. Evaluate my own talents and deficiencies, my threshold for assuming risk, my ability to finance the endeavor, and the passion and determination I will require for success. Key Personality Traits of Entrepreneurial Success: While many self driven entrepreneurs are born with energy and desire of creation, I strongly believe that having an entrepreneurial spirit in any business endeavor requires several key personality traits on the part of the leader including: †¢ Self-confidence Read MoreFunctional Areas of Business Essay1117 Words   |  5 PagesAnalyzing the functional areas of Management Adrean D.Thomas MGT/521 September 3, 2013 Dr. Machen Analyzing the functional areas of Management In all types of businesses (big or small), managers play a key role in the efficiency, profitability, and functionality of how the business meets its goals and successes. The purpose of managers are to oversee and coordinate the work of others. As managers, it is important that ensure that the business’ greatest resource, which are its employeesRead MoreBusiness Functions1060 Words   |  5 Pagesdevelop personnel management tasks, while seeking to create and develop teams of workers for the benefit of the organization. A primary goal of human resources is to enable employees to work to a maximum level of efficiency. human resources involves ongoing strategies to manage and develop an organizations workforce. It is proactive, as it involves the continuous development of functions and policies for the purposes of improving a company’s workforce. Personnel management is often consideredRead MorePursuing A Career As A Financial Planner Essay1652 Words   |  7 Pageswant a career in finance. With that being said I have many options. I could go the route of corporate finance and get job dealing with funding and the capital structure of corporations. I could also pursue a job in investment banking or commercial banking. The size of the firm won’t matter to me, but the culture and structure of the firm will. For the purpose of this paper I am going to focus on financial planning. Financial planning includes but not limited to financial management, financial reporting