Three Architecture Styles Essay Example For Students

Three Architecture Styles Essay In this essay information will be given in order to compare and contrast data about three different styles of architecture. The three styles are Art Deco, Art Nouveau, and Neo Gothic. In order to fully give a clear explanation of these styles, information about architecture will be given first then the three styles will follow with comparing and contrasting points in between. First, to inform about architecture, one must explain what it is. Architecture, referring to building is defined as The practice of building design and its resulting products; customary usage refers only to those designs and structures that are culturally significant Ferrier 20. Someone might say that architecture must appease its intended uses, but must be technically sound, and must convey tasteful meaning. Although some of the greatest buildings outlast their original uses, these buildings now stand not only as beautiful works of art, but as history of our culture. We will write a custom essay on Three Architecture Styles specifically for you for only $16.38 $13.9/page Order now Achievements in architecture show, the true accomplishments of the society in which they were constructed. It is amazing how architecture has blossomed. As technology has grown and people have gained knowledge in the wide array of architecture many different forms have developed. Although we will be looking into only a few, it will be easy to see why people find architecture so interesting. For instance the Art Nouveau style, which became very popular across Europe and in the United States, is an elegant decorative art style, and is characterized by its intricately detailed patters of curving lines. An excellent example of this type of art is the John Hudson Thomas W. L. Locke House 1911, in Oakland, CA Partridge. Art Nouveau is an international style of decoration and architecture. This style spread rapidly. It grew as a reaction to the other excessive academic art revivals that were taking place at the time. At the time artists set out to create a new kind of art. They wanted to have something that would be a total and complete decorative style that combined all arts including, painting, graphics, sculpture, decorative arts, and architecture into an expressive package. The importance of Art Nouveau can not be denied Earl A Powell III, director of the national Gallery of art in Washington DC explains, The Art Nouveau style was self-consciously international. He goes on to say, As interpreted by architects such as Frank Lloyd Wright, the movement in America set the stage for modernism that in turn had a great influence on progressive art and architecture in the United States, Europe, and Japan Partridge. Art Nouveau remained popular until World War I, and was ultimately replaced by the Art Deco style. What is Art Deco? Art Deco is a style of art that was created in hopes of finding something new, something to set things apart from one to another. The Art Deco period began in the early 1900s and ended in the 1930s. The Art Deco name derived from the 1925 Exposition Internationale des Arts Decoratifs et Industriels Modernes, an exposition of modern decorative and industrial arts held in Paris, France Hewitt. Art Deco designers used stepped forms, rounded corners, triple-striped decorative elements and black decoration often. The most important thing about Art Deco is the designs created were always in geometrical order and in simple formats. A good example of an Art Deco Style would be the Empire State Building. The building was completed in 1931-32 and ended the era of Art Deco Skyscrapers. Art Deco is all about machines, mass-production, metal and concrete Hewitt. Like Art Nouveau, Art Deco exploded with peoples interests. In fact the earliest forms of Art Deco exhibited a slight reminder of the previous Art Nouveau movements graceful nature motifs, while in later years geometry and mass take over to concrete what is sometimes referred to as Art Moderne or Streamline Jacobs 5. .u77b8d6871c8f184e38f65e4fd5ed3fd4 , .u77b8d6871c8f184e38f65e4fd5ed3fd4 .postImageUrl , .u77b8d6871c8f184e38f65e4fd5ed3fd4 .centered-text-area { min-height: 80px; position: relative; } .u77b8d6871c8f184e38f65e4fd5ed3fd4 , .u77b8d6871c8f184e38f65e4fd5ed3fd4:hover , .u77b8d6871c8f184e38f65e4fd5ed3fd4:visited , .u77b8d6871c8f184e38f65e4fd5ed3fd4:active { border:0!important; } .u77b8d6871c8f184e38f65e4fd5ed3fd4 .clearfix:after { content: ""; display: table; clear: both; } .u77b8d6871c8f184e38f65e4fd5ed3fd4 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u77b8d6871c8f184e38f65e4fd5ed3fd4:active , .u77b8d6871c8f184e38f65e4fd5ed3fd4:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u77b8d6871c8f184e38f65e4fd5ed3fd4 .centered-text-area { width: 100%; position: relative ; } .u77b8d6871c8f184e38f65e4fd5ed3fd4 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u77b8d6871c8f184e38f65e4fd5ed3fd4 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u77b8d6871c8f184e38f65e4fd5ed3fd4 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u77b8d6871c8f184e38f65e4fd5ed3fd4:hover .ctaButton { background-color: #34495E!important; } .u77b8d6871c8f184e38f65e4fd5ed3fd4 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u77b8d6871c8f184e38f65e4fd5ed3fd4 .u77b8d6871c8f184e38f65e4fd5ed3fd4-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u77b8d6871c8f184e38f65e4fd5ed3fd4:after { content: ""; display: block; clear: both; } READ: Fashion Boutique Industry of Kathmandu EssayArt Nouveau being characterized especially by sinuous lines and foliate forms, sets it apart from the way Art Deco is characterized by bold outlines, geometric and zigzag forms, and the use of new materials. Like Art Nouveau, Art Deco was created for a newer, fresher feeling. A great way to Characterize the Art Deco style is by saying it is a diverse mix, sharing geometry and simplicity, and often combining lively colors. Unlike Art Nouveau, Art Deco packed up, do to a crash in the stock market in the 1930sHewitt. As Art Nouveau was put out be a new more modern style of art. Just like Art Deco, Art Nouveau infused the world with an elegant style of complexity. Next, a look at the Neo-Gothic style. This style is one that borrowed elements from Gothicism for decorative use. It is generally agreed that Gothic architecture made its initial appearance C. 1140 in the Ile-de-france, the royal domain of the Capetain Kings Religious architecture. The Neo-Gothic style tried to understand the basic principles of Gothicism, and used them. An important moment in the development of Neo-Gothicism is the year 1853, when the hierarchy of the Roman Catholic Church was fully restored in the Netherlands Religious architecture. This year formed the first highlight of a process that had been going on for a few years already, and which was to lead to full catholic emancipation. Individual components in Gothic architecture, such as ribbed vaulting and the pointed arch, had been employed in Romanesque construction, they had not previously received such a purposeful and constant application. The structural value of the gothic rib has been contested, its formal significance can not be overestimated. It served above all to delineate the vaults with a skeletal web that gave to the entire structure an articulation of impressive clarity Religious Architecture. When you are looking at Neo-Gothic architecture it is important to see how the spiritual and mysterious of light is an important element of the religious symbolism of Gothic cathedrals. Neo-Gothic architecture in most cases has a simple rectangular ground plan, with only a small tower at the front facade Religious Architecture. Some say this style was characterized by a purely decorative use of Gothic elements. Between the three styles in which we have discussed Neo-Gothic, Art Nouveau, and Art Deco each is very different in their own ways, but are similar in others. Neo-Gothic has sharp points unlike Art Nouveau, which has many curving lines. These two styles are analogous due to their mysterious darkness and varying lines. Each style is alike in the ways in which they use geometry in each design. Art Deco is said to have streamlines that continue to flow Hewitt Whereas, Neo-Gothic lines seem to come to points and stop. The lines that make up Art Deco and Art Nouveau are very similar in many ways. Their lines seem to have a smooth, constant, flow that looks as if it is never-ending. Art Deco and Art Nouveau are subtle. All three architecture styles have made the bold transition to modernism in America. In conclusion, these three styles are very important to the history of architecture. Each style used another to find its own individuality. So without one you would not have another. Each style adds contrast and flare to one another. Looking back we can see just how important each style is. For instance Art Nouveau added writhing plant forms and an opposition to the historicism, which had plagued the 19th century Partridge. Although there was tension implicit throughout the movement between the decorative and the modern. Art Deco added order. Stepped forms, rounded corners, triple stripped decorative elements and black decoration shows just how Art Deco added to history with order Jacobs. Neo-Gothic architecture added beautiful design to many churches and other buildings. Architecture is something that is often over looked. Its beauty is exquisite. The work that goes into each and every piece of artwork is intense. It shows how much people love what they do and how creative they really are. Architecture is something that people have to have an interest in to really love.

Studying and Preparing for Final Exams

Studying and Preparing for Final Exams Final exams are stressful for many studentsand its no wonder. Finals are designed to allow students to demonstrate how much information they have retained from an entire semester. When it comes to preparing for finals, every subject is a little bit different, so you should specialize your study skills for each particular exam. A General Strategy for Preparing for Finals Studies show that certain methods are important when it comes to memorization. If youre studying for a topic that involves a lot of new terms and concepts, you must prepare for a test with a reusable practice test. Fill in the practice sheet and repeat until you get all the answers right.Believe it or not, students have reported that lots of points are lost because they get careless on bubble sheets! Review these common and very costly bubble sheet errors that can wreck your test performance. If you misalign by a single space, you can get every answer wrong!Review common instruction words that teachers use. Know the difference between contrast, analyze, and compare, for example. You may think these the same thing when it comes to writing your answer essay, but there are very specific expectations for each word.If finals week means lots of back-to-back exams for you, you should prepare yourself mentally and physically for the many consecutive hours you can spend writing. Dont make your essay answer too short because your hand is getting tired!Fill in the blank e xams require special preparation. You start by reading over your class notes to underline new terms, important dates, noteworthy phrases, and the names of key people. If part of your final involves constructing a long essay outside of the classroom, you should become very familiar with all the behavior that constitutes plagiarism. You might be surprised to find out how easy it is to plagiarize. And plagiarism normally results in an immediate fail! Preparing for Finals in English and Literature Classes Literature professors are most likely to test you with long and short essay questions. First rule when preparing for a literature exam: read the material again! Be prepared to compare two or more stories that youve read. Also, know the traits of every character. Before going into any essay test session, you should review basic punctuation rules. Preparing for Exams in Foreign Language Classes If youre mainly concerned about memorizing a list of new words when learning a foreign language, you can use this color-coding method to memorize vocabulary words. If youre preparing for a final exam in Spanish, you can review a list of common mistakes students make when composing Spanish essays. You may also need to insert Spanish symbols as you create your final essay. Practice early and practice a lot to ace a Spanish test! Thats the advice from readers. Sometimes its necessary to cram for a foreign language final. If you need to learn a lot of French in a little bit of time, try some practice techniques offered by our Guide to French Language. Preparing for Science Finals Many science teachers like to use multiple choice questions to test students. To prepare for this type of test, you should look closely at the concepts behind themes to make sure you are prepared for all of the above and none of the above answers. Look at any lists of components or traits. When taking a chemistry final, be sure to mind dump every memorized equation at the start. Join a study group and seek study advice from other students. Use common sense when you prepare for test day. Eat right and get enough sleep! Preparing for a Psychology Final If your psychology teacher offers a test review, it is important to take smart and sensible notes. You can use your review notes to create a practice exam. When preparing for a psychology test, its particularly important to review psychological theories youve covered in class and apply them to real-life examples when you can. Preparing for Math Finals For many students, math finals are the most intimidating of all! Some of the best advice for preparing for math exams comes from our readers. Work slowly and review each problem at least ten timesthats the kind of wisdom readers share. Review these problem-solving strategies to know how and when to use certain procedures. Its critical to memorize the basic rules that are necessary for working on many problems: divisibility rulesorder of operationsnegative and positive rulesgeometry formulas Final Exams in History History exams will involve memorizing dates as well as memorizing new history terms for your exam. Be sure to brush up on techniques for preparing for a short answer test. Many teachers in the social sciences prefer to use essay exam questions. To prepare for an essay exam, you should read over your notes and textbook chapters to search for hidden themes, Your history final may involve writing a long history paper. Make sure your essay fits the assignment and is formatted correctly. Our Guide to Ancient History provides excellent advice for last minute study tips for history class. Finding a Study Partner It is very helpful for many students to study with a good partner. Find a serious student and find a good study space to exchange practice questions and compare notes. A great study partner will understand some methods or problems that you dont. You will be able to explain some problems with your partner in return. Its a trade-off.

Egyptian Elections Essay Example | Topics and Well Written Essays - 1500 words

Egyptian Elections - Essay Example Similarly, this paper traces the history of the Middle East concerning matters of political, economical and even social nature. Additionally, the discussion delves into the driving factors of the Arab Spring and the lessons the new president of Egypt should learn (Lesch 43). Furthermore, this essay is going evaluate the different forms of regimes and democracies practiced in the Arab nations such as Islamic Republic, absolute monarchies, liberal democracies and competitive authoritarianism among others. Therefore, the president I have predicted is Amr Moussa and below explain why. In the forthcoming Egyptian elections, there are fundamental issues in the context of elections that merit a discussion. Similarly, in making truthful predictions of the president and party, which are likely to ascend to power, other paramount considerations of the long journey Egyptian citizens, have travelled, should be noted down. On that account, this essay is going to look briefly at the history of the Middle East of which Egypt is a member and how it has come to be in the modern history in the context of development. For instance, it is a well known that civilization begun in Middle East in the period of 3500 BC, namely in Mesopotamia, which is currently in Iraq and ancient Egypt. Similarly, ancient Egypt facilitated the spread of civilization along the Nile River valley which was led by the Pharaohs in order to bring change (Lust 123). Similarly, before making a prediction concerning the elections that are on May 23 and 24, 2012, this essay highlights the different phases of history Egypt has endured. These include the prehistoric Egypt and Ancient Egypt that was characterized with kingdoms from 31 to 1070 BC. Furthermore, this period marked the beginning of a monarchy where Pharaohs practiced authoritarian leadership upon their citizens. After Ancient Egypt, came the Greco-Roma Egypt where Egypt began trading with other worlds to acquire economic autonomy. After the Greco-Roma Egypt came the Medieval Egypt and, finally, Modern Egypt, which was begun in 1882 until the ouster of Hosni Mubarak (Eva 153). In other words, the paper attempts to link the transition of the forthcoming elections with the past regimes of Egypt and how to chart a way forward. However, when we study at the history of the modern Middle East, there are critical issues that are worth mentioning to understand the situation. For example, it has metamorphosed into a zone of conflict where democracy does not exist but instead authoritarian monarchs persecute the people. Such countries include Saudi Arabia, Qatar and Bahrain among others that have been affected. For countries that practice democracy such as Iran and Egypt, the elections are always flawed with leaders extending their political terms to their advantage, which only breeds violence (Lesch 47). As a result, this has spawned liberal democracies where the real fruits of democracy are not enjoyed but trampled upon by the leaders. O n that note, countries that practice of democracy include Egypt, Jordan, Kuwait and Israel among others. Egypt under the former president, Hosni Mubarak, was also known to practice competitive authoritarianism where he exercised coercive tactics to win elections despite the efforts of the opposition. However,

Steps to Ethical Decision Essay Example | Topics and Well Written Essays - 2500 words

Steps to Ethical Decision - Essay Example Three main assumptions that define how this issue could present an ethical challenge. The conflict involved is to what extent is the appreciation token genuine but not a bribe. More apparently, the winner of a tender out of good will decides to present appreciation to the entire panel openly inform of either cash, a party or any other form that may appear inducement. No doubt, many will find it within the sound business practice considering it happens publicly and more importantly out of the willingness of the rich supplier. Secondly, such offers are hard to be defined within the context of bribery because this is not done in secret, and everyone gets an entitlement to a fair share. Lastly, this occurs after the panel has established successfully that the supplier justly deserves the tender, however accepting gifts or goodies could jeopardize other potential competitors in future.Concisely, some parties may argue that it may be unethical to accept offers from business partners. Howev er, the manner at which this offer is given appears fair and not an inducement. When trapped in such a dilemma and case, the eight clearly outlined steps are fundamental in bringing the conflict to sanity. Basic Ethical Principles. Situation analysis of benefits versus burdens. While some decisions may appear ethical, it may bring huge burden to an organization. Loss of integrity and the perception of lack of fairness are two critical challenges that may accrue from a controversial ethical decision.

Importance of having a scholarship in Canada Essay

Importance of having a scholarship in Canada - Essay Example In addition to financial and educational benefits, the scholarship provided me with career benefit. Earning a prestigious scholarship makes me a more attractive job candidate. Most employers understand the competitive nature of the scholarship and as such, they recognize scholarship as an accomplishment. It demonstrates to potential employers that I have exceptional abilities in the academic realm. Listing scholarship on my resume helps me to stand out when searching for a job and possibly help me to achieve the career that I want. The scholarship also came with personal benefit; it made a significant difference regarding how much resources and time that I had during college to spend to enhance my knowledge and experience through internships, volunteer opportunities, and service-learning. The security and money afforded by a scholarship allowed me to be more selective regarding how much I spend and how I spend my free time. I am delighted to have studied in Canada as the country prov ided me with an unforgettable experience. As I had mentioned earlier, I am originally from Saudi Arabia and I have lived for a while in the United States. Studying in Canada meant a lot to me; I was able to learn from the leading lecturers and in excellent modern facilities that inspired forward-thinking progress, and innovation. Regardless of the level of education one is pursuing, the cost of education in Canada is affordable and enables one to acquire globally recognized qualifications that will set them on the path to success.... It demonstrates to potential employers that I have exceptional abilities in the academic realm. Listing scholarship in my resume helps me to stand out when searching for a job and possibly help me to achieve the career that I want. The scholarship also came with personal benefit; it made a significant difference regarding how much resources and time that I had during college to spend to enhance my knowledge and experience through internships, volunteer opportunities, and service-learning. The security and money afforded by a scholarship allowed me to be more selective regarding how much I spend and how I spend my free time. I am delighted to have studied in Canada as the country provided me with unforgettable experience. As I had mentioned earlier, I am originally from Saudi Arabia and I have lived for a while in the United States. Therefore, studying in Canada provided me with a completely new form of experience. Studying in Canada meant a lot to me; I was able to learn from the lea ding lecturers and in excellent modern facilities that inspired forward thinking, progress, and innovation. Regardless of the level of education one is pursuing, the cost of education in Canada is affordable and enables one to acquire globally recognized qualifications that will set them on the path to success. I am no different. All my classes in Canada reflected multicultural and diverse society. Canada has high academic standards, as well as rigorous quality controls, which meant that I earned high-quality educational qualifications that will open doors for my future and be of great benefit to my long-term career goals. A Canadian certificate, diploma, or degree is recognized globally as being equivalent to

Asset and liability management

Asset and liability management ASSET AND LIABILITY MANAGEMENT In banking, asset and liability management (ALM) is used to manage the risks that arise due to mismatches between the assets and liabilities (debts and assets) of the bank. Banks face several risks like the liquidity risk, market risk, interest rate risk, credit risk and operational risk. Asset Liability management (ALM) is a strategic management tool to manage interest rate risk and liquidity risk faced by banks, other financial services companies and corporations. Banks manage the risks of Asset liability mismatch by matching the assets and liabilities according to the maturity pattern or the matching the duration, by hedging and by securitization. Asset and liability management remain high-priority areas for bank regulators, with an emphasis on management of market risk, liquidity risk, and credit risk. Asset/liability managers face the challenge of keeping pace with industry changes as new areas of risk are identified and new tools and models are developed to help measure and manage risk. In other words Asset-Liability Management (ALM) can be known as a risk management technique designed to earn an adequate return while maintaining a comfortable surplus of assets beyond liabilities. It takes into consideration interest rates, earning power, and degree of willingness to take on debt and hence is also known as Surplus Management. But in the last decade the meaning of asset liability management has evolved. It is now used in many different ways under different contexts. ALM, which was actually pioneered by financial institutions and banks, are now widely being used in industries too. The Society of Actuaries Task Force on ALM Principles, Canada, offers the following definition for ALM: Asset Liability Management is the on-going process of formulating, implementing, monitoring, and revising strategies related to assets and liabilities in an attempt to achieve financial objectives for a given set of risk tolerances and constraints. Basis of Asset-Liability Management Traditionally, banks and insurance companies used accrual system of accounting for all their assets and liabilities. They would take on liabilities such as deposits, life insurance policies or annuities. They would then invest the proceeds from these liabilities in assets such as loans, bonds or real estate. All these assets and liabilities were held at book value. Doing so disguised possible risks arising from how the assets and liabilities were structured. Consider a bank that borrows 1 Crore (100 Lakhs) at 6 % for a year and lends the same money at 7 % to a highly rated borrower for 5 years. The net transaction appears profitable the bank is earning a 100 basis point spread but it entails considerable risk. At the end of a year, the bank will have to find new financing for the loan, which will have 4 more years before it matures. If interest rates have risen, the bank may have to pay a higher rate of interest on the new financing than the fixed 7 % it is earning on its loan. Suppose, at the end of a year, an applicable 4-year interest rate is 8 %. The bank is in serious trouble. It is going to earn 7 % on its loan but would have to pay 8 % on its financing. Accrual accounting does not recognize this problem. Based upon accrual accounting, the bank would earn Rs 100,000 in the first year although in the preceding years it is going to incur a loss. The problem in this example was caused by a mismatch between assets and liabilities. Prior to the 1970s, such mismatches tended not to be a significant problem. Interest rates in developed countries experienced only modest fluctuations, so losses due to asset-liability mismatches were small or trivial. Many firms intentionally mismatched their balance sheets and as yield curves were generally upward sloping, banks could earn a spread by borrowing short and lending long. Things started to change in the 1970s, which ushered in a period of volatile interest rates that continued till the early 1980s. US regulations which had capped the interest rates so that banks could pay depositors, was abandoned which led to a migration of dollar deposit overseas. Managers of many firms, who were accustomed to thinking in terms of accrual accounting, were slow to recognize this emerging risk. Some firms suffered staggering losses. Because the firms used accrual accounting, it resulted in more of crippled balance sheets than bankruptcies. Firms had no options but to accrue the losses over a subsequent period of 5 to 10 years. One example, which drew attention, was that of US mutual life insurance company The Equitable. During the early 1980s, as the USD yield curve was inverted with short-term interest rates sky rocketing, the company sold a number of long-term Guaranteed Interest Contracts (GICs) guaranteeing rates of around 16% for periods up to 10 years.Equitable then invested the assets short-term to earn the high interest rates guaranteed on the contracts. But short-term interest rates soon came down. When the Equitable had to reinvest, it couldnt get even close to the interest rates it was paying on the GICs. The firm was crippled. Eventually, it had to demutualize and was acquired by the Axa Group. Increasingly banks and asset management companies started to focus on Asset-Liability Risk.The problem was not that the value of assets might fall or that the value of liabilities might rise. It was that capital might be depleted by narrowing of the difference between assets and liabilities and that the values of assets and liabilities might fail to move in tandem. Asset-liability risk is predominantly a leveraged form of risk. The capital of most financial institutions is small relative to the firms assets or liabilities, and so small percentage changes in assets or liabilities can translate into large percentage changes in capital. Accrual accounting could disguise the problem by deferring losses into the future, but it could not solve the problem.Firms responded by forming asset-liability management (ALM) departments to assess these asset-liability risk. Techniques for assessing Asset-Liability Risk Techniques for assessing asset-liability risk came to include Gap Analysis and Duration Analysis. These facilitated techniques of managing gaps and matching duration of assets and liabilities. Both approaches worked well if assets and liabilities comprised fixed cash flows. But cases of callable debts, home loans and mortgages which included optio.ns of prepayment and floating rates, posed problems that gap analysis could not address. Duration analysis could address these in theory, but implementing sufficiently sophisticated duration measures was problematic Accordingly, banks and insurance companies started using Scenario Analysis. Under this technique assumptions were made on various conditions, for example: * Several interest rate scenarios were specified for the next 5 or 10 years. These specified conditions like declining rates, rising rates, a gradual decrease in rates followed by a sudden rise, etc. Ten or twenty scenarios could be specified in all. * Assumptions were made about the performance of assets and liabilities under each scenario. They included prepayment rates on mortgages or surrender rates on insurance products. * Assumptions were also made about the firms performance-the rates at which new business would be acquired for various products, demand for the product. * Market conditions and economic factors like inflation rates and industrial cycles were also included. * Based upon these assumptions, the performance of the firms balance sheet could be projected under each scenario. If projected performance was poor under specific scenarios, the ALM committee would adjust assets or liabilities to address the indicated exposure. Let us consider the procedure for sanctioning a commercial loan. The borrower, who approaches the bank, has to appraise the banks credit department on various parameters like industry prospects, operational efficiency, financial efficiency, management qualities and other things, which would influence the working of the company. On the basis of this appraisal, the banks would then prepare a credit-grading sheet after covering all the aspects of the company and the business in which the company is in. Then the borrower would then be charged a certain rate of interest, which would cover the risk of lending. * But the main shortcoming of scenario analysis was that, it was highly dependent on the choice of scenarios. It also required that many assumptions were to be made about how specific assets or liabilities will perform under specific scenario. Gradually the firms recognized a potential for different type of risks, which was overlooked in ALM analyses. Also the deregulation of the interest rates in US in mid 70 s compelled the banks to undertake active planning for the structure of the balance sheet. The uncertainty of interest rate movements gave rise to Interest Rate Risk thereby causing banks to look for processes to manage this risk. In the wake of interest rate risk came Liquidity Risk and Credit Risk, which became inherent components of risk for banks. The recognition of these risks brought Asset Liability Management to the centre-stage of financial intermediation. Today even Equity Risk, which until a few years ago was given only honorary mention in all but a few company ALM re ports, is now an indispensable part of ALM for most companies.. Some companies have gone even further to include Counterparty Credit Risk, Sovereign Risk, as well as Product Design and Pricing Risk as part of their overall ALM. * Now a days a company has different reasons for doing ALM. While some companies view ALM as a compliance and risk mitigation exercise, others have started using ALM as strategic framework to achieve the companys financial objectives. Some of the business reasons companies now state for implementing an effective ALM framework include gaining competitive advantage and increasing the value of the organization. Asset-Liability Management Approach ALM in its most apparent sense is based on funds management. Funds management represents the core of sound bank planning and financial management. Although funding practices, techniques, and norms have been revised substantially in recent years, it is not a new concept. Funds management is the process of managing the spread between interest earned and interest paid while ensuring adequate liquidity. Therefore, funds management has following three components, which have been discussed briefly. A. Liquidity Management Liquidity represents the ability to accommodate decreases in liabilities and to fund increases in assets. An organization has adequate liquidity when it can obtain sufficient funds, either by increasing liabilities or by converting assets, promptly and at a reasonable cost. Liquidity is essential in all organizations to compensate for expected and unexpected balance sheet fluctuations and to provide funds for growth. The price of liquidity is a function of market conditions and market perception of the risks, both interest rate and credit risks, reflected in the balance sheet and off-balance sheet activities in the case of a bank. If liquidity needs are not met through liquid asset holdings, a bank may be forced to restructure or acquire additional liabilities under adverse market conditions. Liquidity exposure can stem from both internally (institution-specific) and externally generated factors. Sound liquidity risk management should address both types of exposure. External liquidit y risks can be geographic, systemic or instrument-specific. Internal liquidity risk relates largely to the perception of an institution in its various markets: local, regional, national or international. Determination of the adequacy of a banks liquidity position depends upon an analysis of its: * Historical funding requirements * Current liquidity position * Anticipated future funding needs * Sources of funds * Present and anticipated asset quality * Present and future earnings capacity * Present and planned capital position As all banks are affected by changes in the economic climate, the monitoring of economic and money market trends is key to liquidity planning. Sound financial management can minimize the negative effects of these trends while accentuating the positive ones. Management must also have an effective contingency plan that identifies minimum and maximum liquidity needs and weighs alternative courses of action designed to meet those needs. The cost of maintaining liquidity is another important prerogative. An institution that maintains a strong liquidity position may do so at the opportunity cost of generating higher earnings. The amount of liquid assets a bank should hold depends on the stability of its deposit structure and the potential for rapid expansion of its loan portfolio. If deposit accounts are composed primarily of small stable accounts, a relatively low allowance for liquidity is necessary. Additionally, management must consider the current ratings by regulatory and rating agencies when planning liquidity needs. Once liquidity needs have been determined, management must decide how to meet them through asset management, liability management, or a combination of both. B. Asset Management Many banks (primarily the smaller ones) tend to have little influence over the size of their total assets. Liquid assets enable a bank to provide funds to satisfy increased demand for loans. But banks, which rely solely on asset management, concentrate on adjusting the price and availability of credit and the level of liquid assets. However, assets that are often assumed to be liquid are sometimes difficult to liquidate. For example, investment securities may be pledged against public deposits or repurchase agreements, or may be heavily depreciated because of interest rate changes. Furthermore, the holding of liquid assets for liquidity purposes is less attractive because of thin profit spreads. Asset liquidity, or how salable the banks assets are in terms of both time and cost, is of primary importance in asset management. To maximize profitability, management must carefully weigh the full return on liquid assets (yield plus liquidity value) against the higher return associated with less liquid assets. Income derived from higher yielding assets may be offset if a forced sale, at less than book value, is necessary because of adverse balance sheet fluctuations. Seasonal, cyclical, or other factors may cause aggregate outstanding loans and deposits to move in opposite directions and result in loan demand, which exceeds available deposit funds. A bank relying strictly on asset management would restrict loan growth to that which could be supported by available deposits. The decision whether or not to use liability sources should be based on a complete analysis of seasonal, cyclical, and other factors, and the costs involved. In addition to supplementing asset liquidity, liability sources of liquidity may serve as an alternative even when asset sources are available. C. Liability Management Liquidity needs can be met through the discretionary acquisition of funds on the basis of interest rate competition. This does not preclude the option of selling assets to meet funding needs, and conceptually, the availability of asset and liability options should result in a lower liquidity maintenance cost. The alternative costs of available discretionary liabilities can be compared to the opportunity cost of selling various assets. The major difference between liquidity in larger banks and in smaller banks is that larger banks are better able to control the level and composition of their liabilities and assets. When funds are required, larger banks have a wider variety of options from which to select the least costly method of generating funds. The ability to obtain additional liabilities represents liquidity potential. The marginal cost of liquidity and the cost of incremental funds acquired are of paramount importance in evaluating liability sources of liquidity. Consideration m ust be given to such factors as the frequency with which the banks must regularly refinance maturing purchased liabilities, as well as an evaluation of the banks ongoing ability to obtain funds under normal market conditions. The obvious difficulty in estimating the latter is that, until the bank goes to the market to borrow, it cannot determine with complete certainty that funds will be available and/or at a price, which will maintain a positive yield spread. Changes in money market conditions may cause a rapid deterioration in a banks capacity to borrow at a favorable rate. In this context, liquidity represents the ability to attract funds in the market when needed, at a reasonable cost vis-Ã  -vis asset yield. The access to discretionary funding sources for a bank is always a function of its position and reputation in the money markets. Although the acquisition of funds at a competitive cost has enabled many banks to meet expanding customer loan demand, misuse or improper implementation of liability management can have severe consequences. Further, liability management is not riskless. This is because concentrations in funding sources increase liquidity risk. For example, a bank relying heavily on foreign interbank deposits will experience funding problems if overseas markets perceive instability in U.S. banks or the economy. Replacing foreign source funds might be difficult and costly because the domestic market may view the banks sudden need for funds negatively. Again over-reliance on liability management may cause a tendency to minimize holdings of short-term securities, relax asset liquidity standards, and result in a large concentration of short-term liabilities supporting assets of longer maturity. During times of tight money, this could cause an earnings squeeze and an illiquid condition. Also if rate competition develops in the money market, a bank may incur a high cost of funds and may elect to lower credit standards to book higher yielding loans and securities. If a bank is purchasing liabilities to support assets, which are already on its books, the higher cost of purchased funds may result in a negative yield spread. Preoccupation with obtaining funds at the lowest possible cost, without considering maturity distribution, greatly intensifies a banks exposure to the risk of interest rate fluctuations. That is why banks who particularly rely on wholesale funding sources, management must constantly be aware of the composition, characteristics, and diversification of its funding sources. Procedure for Examination of Asset Liability Management In order to determine the efficacy of Asset Liability Management one has to follow a comprehensive procedure of reviewing different aspects of internal control, funds management and financial ratio analysis. Below a step-by-step approach of ALM examination in case of a bank has been outlined. Step 1 The bank/ financial statements and internal management reports should be reviewed to assess the asset/liability mix with particular emphasis on. * Total liquidity position (Ratio of highly liquid assets to total assets) * Current liquidity position (Minimum ratio of highly liquid assets to demand liabilities/deposits) * Ratio of Non Performing Assets to Total Assets * Ratio of loans to deposits * Ratio of short-term demand deposits to total deposits * Ratio of long-term loans to short term demand deposits * Ratio of contingent liabilities for loans to total loans * Ratio of pledged securities to total securities Step 2 It is to be determined that whether bank management adequately assesses and plans its liquidity needs and whether the bank has short-term sources of funds. This should include * Review of internal management reports on liquidity needs and sources of satisfying these need.. * Assessing the banks ability to meet liquidity needs Step 3 The banks future development and expansion plans, with focus on funding and liquidity management aspects has to be looked into. This entails. * Determining whether bank management has effectively addressed the issue of need for liquid assets to funding sources on a long-term basis. * Reviewing the banks budget projections for a certain period of time in the future. * Determining whether the bank really needs to expand its activities. What are the sources of funding for such expansion and whether there are projections of changes in the banks asset and liability structure. * Assessing the banks development plans and determining whether the bank will be able to attract planned funds and achieve the projected asset growth. * Determining whether the bank has included sensitivity to interest rate risk in the development of its long term funding strategy. Step 4 Examining the banks internal audit report in regards to quality and effectiveness in terms of liquidity management. Step 5 Reviewing the banks plan of satisfying unanticipated liquidity needs by. * Determining whether the banks management assessed the potential expenses that the bank will have as a result of unanticipated financial or operational problems. * Determining the alternative sources of funding liquidity and/or assets subject to necessity. * Determining the impact of the banks liquidity management on net earnings position. Step 6 Preparing an Asset/Liability Management Internal Control Questionnaire which should include the following Whether the board of directors has been consistent with its duties and responsibilities and included o A line of authority for liquidity management decisions. o A mechanism to coordinate asset and liability management decisions. o A method to identify liquidity needs and the means to meet those needs. o Guidelines for the level of liquid assets and other sources of funds in relationship to needs. Does the planning and budgeting function consider liquidity requirements. Are the internal management reports for liquidity management adequate in terms of effective decision making and monitoring of decisions. Are internal management reports concerning liquidity needs prepared regularly and reviewed as appropriate by senior management and the board of directors. Whether the banks policy of asset and liability management prohibits or defines certain restrictions for attracting borrowed means from bank related persons (organizations) in order to satisfy liquidity needs. Does the banks policy of asset and liability management provide for an adequate control over the position of contingent liabilities of the bank. Is the foregoing information considered an adequate basis for evaluating internal control in that there are no significant deficiencies in areas not covered in this questionnaire that impair any controls. Guidelines on Asset-Liability Management (ALM) System -Amendments Reserve Bank had issued guidelines on ALM system vide Circular dated February 10, 1999, which covered, among others, interest rate risk and liquidity risk measurement / reporting framework and prudential limits. As a measure of liquidity management, banks are required to monitor their cumulative mismatches across all time buckets in their Statement of Structural Liquidity by establishing internal prudential limits with the approval of the Board / Management Committee. As per the guidelines, the mismatches (negative gap) during the time buckets of 1-14 days and 15-28 days in the normal course, are not to exceed 20 per cent of the cash outflows in the respective time buckets. 2. Having regard to the international practices, the level of sophistication of banks in India and the need for a sharper assessment of the efficacy of liquidity management, Reserve Bank of India has reviewed guidelines on 24th October 2007 and decided that : (a) the banks may adopt a more granular approach to measurement of liquidity risk by splitting the first time bucket (1-14 days at present) in the Statement of Structural Liquidity into three time buckets viz. Next day , 2-7 days and 8-14 days. (b) the Statement of Structural Liquidity may be compiled on best available data coverage, in due consideration of non-availability of a fully networked environment.Banks may, however, make concerted and requisite efforts to ensure coverage of 100 per cent data in a timely manner. (c) the net cumulative negative mismatches during the Next day, 2-7 days, 8-14 days and 15-28 days buckets should not exceed 5 % ,10%, 15 % and 20 % of the cumulative cash outflows in the respective time buckets in order to recognise the cumulative impact on liquidity. (d) banks may undertake dynamic liquidity management and should prepare the Statement of Structural Liquidity on daily basis. The Statement of Structural Liquidity, may, however, be reported to RBI, once a month, as on the third Wednesday of every month. 3. The format of Statement of Structural Liquidity has been revised suitably and is furnished. The guidance for slotting the future cash flows of banks in the revised time buckets has also been suitably modified and is furnished at Annex II. 4. To enable the banks to fine tune their existing MIS as per the modified guidelines, the revised norms as well as the supervisory reporting as per the revised format would commence with effect from the period beginning January 1, 2008 and the reporting frequency would continue to be monthly for the present. However, the frequency of supervisory reporting of the Structural Liquidity position shall be fortnightly, with effect from the fortnight beginning April 1, 2008. Asset Liability Management in Indian Context The post-reform banking scenario in India was marked by interest rate deregulation, entry of new private banks, and gamut of new products along with greater use of information technolog.To cope with these pressures banks were required to evolve strategies rather than ad hoc solutions. Recognising the need of Asset Liability management to develop a strong and sound banking.system, the RBI has come out with ALM guidelines for banks and FIs in April 1999.The Indian ALM framework rests on three pillars. Â · ALM Organisation (ALCO) The ALCO or the Asset Liability Management Committee consisting of the banks senior management including the CEO should be responsible for adhering to the limits set by the board as well as for deciding the business strategy of the bank in line with the banks budget and decided risk management objectives. ALCO is a decision-making unit responsible for balance sheet planning from a risk return perspective including strategic management of interest and liquidity risk. The banks may also authorise their Asset-Liability Management Committee (ALCO) to fix interest rates on Deposits and Advances, subject to their reporting to the Board immediately thereafter. The banks should also fix maximum spread over the PLR with the approval of the ALCO/Board for all advances other than consumer credit. Â · ALM Information System The ALM Information System is required for the collection of information accurately, adequately and expeditiously. Information is the key to the ALM process. A good information system gives the bank management a complete picture of the banks balance sheet. Â · ALM Process The basic ALM processes involving identification, measurement and management of risk parameter.The RBI in its guidelines has asked Indian banks to use traditional techniques like Gap Analysis for monitoring interest rate and liquidity risk. However RBI is expecting Indian banks to move towards sophisticated techniques like Duration, Simulation, VaR in the future. For the accrued portfolio, most Indian Private Sector banks use Gap analysis, but are gradually moving towards duration analysis. Most of the foreign banks use duration analysis and are expected to move towards advanced methods like Value at Risk for the entire balance sheet.some foreign banks are already using VaR for the entire balance sheet. Conclusion ALM has evolved since the early 1980s.Today, financial firms are increasingly using market value accounting for certain business lines. This is true of universal banks that have trading operations.Techniques of ALM have also evolved.The growth of OTC derivatives markets has facilitated a variety of hedging strategies. A significant development has been securitization, which allows firms to directly address asset-liability risk by removing assets or liabilities from their balance sheets. This not only eliminates asset-liability risk; it also frees up the balance sheet for new business. Thus, the scope of ALM activities has widened. Today, ALM departments are addressing (non-trading) foreign exchange risks as well as other risks. Also, ALM has extended to non-financial firms. Corporations have adopted techniques of ALM to address interest-rate exposures, liquidity risk and foreign exchange risk. They are using related techniques to address commodities risks. For example, airlines hedging of fuel prices or manufacturers hedging of steel prices are often presented as ALM. Thus it can be safely said that Asset Liability Management will continue to grow in future and an efficient ALM technique will go a long way in managing volume, mix, maturity, rate sensitivity, quality and liquidity of the assets and liabilities so as to earn a sufficient and acceptable return on the portfolio.

The Taco Bell Dog :: essays research papers

1 Oversize corn chip + 1 Undersized dog = Millions of dollars   Ã‚  Ã‚  Ã‚  Ã‚  Many people say that the US is the land of opportunity, but the latest money making opportunity has come from south of the border. Chihuahuas, Talking Chihuahuas. Taco Bell has struck a gold mine in its latest advertisement campaign involving a talking Chihuahua, fueling an instant craze for the little dogs, and all of their merchandise.   Ã‚  Ã‚  Ã‚  Ã‚  The actual filming for all of the commercials was shot in western LA using a simple white background. Four look alike dogs were filmed in many situations at many angles. Using simple verbal commands such as sit, stay, and lie the trainers instructed the dogs out of view of the cameras. The entire process of shooting all of the footage for all of the commercials took only four days. On the final day of the shoot, a party was thrown in honor of the soon to be stars. Each was served a specially made cake consisting of carob, Carrots, and decorated dog biscuits. Three of the pups refused to touch the cakes. The forth one ate a portion of his and proceeded to vomit on the set floor. The dogs were also presented with Custom leather jackets by one costume designers. Another crew member gave the dogs a large inflatable Godzilla figure. The dogs reportedly attempthed to sexually gratify themselves on the tail several times and then chewed the toes off.   Ã‚  Ã‚  Ã‚  Ã‚  After filming the footage was sent to an animation company in Texas. Using computers, the animators morphed frames to create the effect of the dogs talking. Backgrounds, many of which are not actually Taco Bell, but a little deli called Sals, were added along with music and voices. And thus a new sensation was born.   Ã‚  Ã‚  Ã‚  Ã‚  The overwhelming success of the campaign is not limited to combo meals and gorditas, The Chihuahuas image can be seen on every thing from hats to t-shirts to dashboard ornaments to Vases.

Principles of supporting business events Essay

Principles of supporting business events Section 1 – Understand how to support the organisation of a business event 1. When organising a business event, describe the range of support activities that may be required. You will have to organise a venue, depending on type of event get appropriate size, make sure venue is available for particular dates, depending on location check transportation and accessibility get appropriate equipment for different types of presentations, what types of gadgets, will be or not needed some hearing aid, depending on size of venue and event. Arrange speakers, food and drinks : that will depend on how long the event is, will it be just few hours or all day or perhaps few days. Make sure range of food available, for example vegetarian or diary free. Send invitations, advertise the event, get documentations, licence and insurance cover if necessary travel and accommodation: that again will depend on type of event and how long it is going to be, for example if the event is international I have to organise things like visas, airport pick up, hotel and arrival to the event itself 2. Complete the table below by identifying two ways of providing support before, during and after a business event. Before During After 1. Invite speakers 1. Meet and greet, look after during the event, distribute documentation. Collect feedback. 1. Analyse feedback, circulating notes. 2. Book travel and accommodation. 2. Offering information, book taxi, deal with lost property, collect informal feedback 2. Contributing to analysing event. Section 2 – Understand the purpose of displaying professional and helpful behaviour whilst supporting a business event and how to do so 1. Explain the purpose of displaying professional and helpful behaviour when supporting a business event. Professional and helpful behaviour will make more efficient and effective event leave external and internal customers satisfied. Always helps to meet people with a smile and asking if you can help with anything, give people clear instructions what is happening for example when breaks will be taking place, how much time will occupy different speakers or activities so keeping everyone informed and as a result resources will be not wasted and people are generally more cooperative towards professionalism. On contrary not been helpful, for example, will create tension within people and lack of knowledge will leave people unsatisfied. 2. Describe ways of exhibiting professional and helpful behaviour whilst supporting a business event. There are few ways to exhibit professional and helpful behaviour. First thing people note, of course, is appearance. It is pleasant to see clean, well groomed people. It gives first positive impression and people’s mind already set for professionalism. Again a smile can do a lot when meeting people, smile means you want to help and ready to help. Smile invites to ask questions and leaves with positive attitude. When listening to a person it is important to keep eye contact as it relaxes people and if you listen attentively people again feel positive and that is exactly what you want them to feel about whole event and experience. Keeping everyone informed and get your job done such as paperwork, materials for event, answer questions, including phone and computer your main aim and recipe for successful event. Section 3 – Understand how to deal with problems encountered when supporting a business event 1. What are the main types of problems that may occur when supporting a business event? You should include at least three different types of problems in your answer. There could be many problem occur during event from very stressful to minor. They all fall into three categories: People problems Equipment problems Process problems 2. Identify possible solutions for each of the problems you have listed in Question 1 above. Possible solutions to event problems: 1. Always remain calm and polite, apologise to attendees if they experiencing a problem. 2. Find out exactly what the problem is and solution and if you can solve the matter, if not identify the colleague that can 3. Take appropriate action or undertake tasks specified by the colleague in charge† 4. Double check everything, use reliable supplies, proven techniques. Check equipment yourself and ask to do so your colleagues. Seek advice from experience people, reviews and other available sources. Remember what kind of problems you had at the previous events. 5. Ask yourself what kind of things could go wrong, what if main speaker doesn’t arrive in time, what if equipment fails etc. Plan what solution to problems could be beforehand. You should always check that problem was solved and make sure it doesn’t happen again.

Blueprint of Life essays

Blueprint of Life essays The French Naturalist Jean Baptiste Lamarck pronounced the first comprehensive theory of evolution in the beginnings of the 19th century. His theory, the theory of acquired characteristics, had three parts and is as follows: 1) Theory of need- the production of a new organ or part of a plant or animal results from a need 2) Theory of use and disuse- organs remain active as long as they are being used but disappear gradually with disuse 3) Theory of inheritance- all that has been acquired or changed in the structure of individuals during their life is transmitted by heredity to the next generation. He believed evolution took place over a very long period of time. Lamarck also divided animal life into the categories of vertebrates and invertebrates. The contributions of Lamarck are worth considering, not because he successfully accounted for the process of evolution, since his ideas have never been supported by evidence, but because he at least provided a plausible theory for the multiplicity of forms of living things. His work attempted to change how people of the time thought about themselves and their origins by challenging the popular belief in creationism. Lamarcks real contribution to scientific thinking, however, lies in his division of animal life into the vertebrate and invertebrate categories. However scientific understanding was hardly changed by his incorrect hypothesis about evolution as few truly believed in his theory. Lamarck did have an impact on future advances as some of those, who were doubtful about his ideas, started doing their own research. For example, in 1870, an English Biologist, Weismann, proved that the transfer of acquired characteristics to other generations was impossible showing Lamarcks theory to be incorrect. His work also helped make Darwins ideas more acceptable by exposing people to non-religion based explanations on the origin of life. The British Natura...

Definition and Examples of Conjunctive Adverbs

Definition and Examples of Conjunctive Adverbs In English grammar, a conjunctive adverb is an adverb  or adverbial phrase that indicates a relation in meaning between two sequential  independent clauses  (or main clauses). It is also called a conjunct, a transitional conjunction, or a cohesive conjunction. A conjunctive adverb is commonly placed at the beginning of the main clause (where its usually followed by a comma); accordingly, it may follow a semicolon, but only when both clauses (the one before and the one after the conjunctive adverb) are independent and can stand alone. A conjunctive adverb  may appear, on the other hand, almost anywhere in the clause. When used as an interrupting word or phrase, the conjunctive adverb is usually set off by commas on either side. If you are uncertain whether a connecting word is a  conjunctive adverb, test by moving the connecting word to another place in the clause, author  Stephen Reid writes in  The Prentice Hall Guide for College Writers, Conjunctive adverbs can be moved;  subordinating conjunctions  (such as  if  and  because) and  coordinating conjunctions  (but, or, yet, for, and, nor, so) cannot. (2003) Contrast With RegularAdverbs Unlike a conventional adverb, which typically affects the meaning of only a single word or phrase, the meaning of a conjunctive adverb affects the entire clause of which it is a part.   For example, a conventional adverb modifies a verb or adjective, such as in The child just couldnt bear to walk slowly, where  slowly gives more information about the verb  walk. Or, in The Halloween costume looked absolutely ridiculous, the adverb absolutely emphasizes the adjective ridiculous. In contrast, a conjunctive adverb pertains to the entire sentence and connects two parts. Or, if it starts a sentence, it can serve as a transition from one statement to another, as in when you want to make a point of contrasting two things in consecutive sentences: The Halloween costume looked absolutely ridiculous. However, Sam thought it provided the perfect effect. In another distinction between the two types of adverbs, as shown in the list below, a conjunctive adverb may also consist of more than one word, such as in the meantime or at last. Common Conjunctive Adverbs in English Here is a list of examples of conjunctive adverbs. Please note that some words in this list can be other word forms as well; usage will determine which it is.   For example, if a sentence reads, She really should act accordingly, that is a regular adverbial usage. A conjunctive adverbial usage of the word could be something like, The law changed in the state to allow liquor sales on Sundays; accordingly, retailers had to decide if they would be open that day or remain closed by choice. accordingly afterward again also anyhow anyway as a result at last at the same time before besides certainly consequently conversely earlier eventually finally for example for instance further furthermore granted hence however in addition in any case incidentally in conclusion indeed in fact in short in spite of instead in the meantime later lately likewise meanwhile moreover namely nevertheless next nonetheless now on the contrary on the other hand otherwise perhaps rather similarly so still subsequently that is then thereafter, therefore thus undoubtedly

Are Bonus Schemes an Effective Way of Motivating Employees Essay

Are Bonus Schemes an Effective Way of Motivating Employees - Essay Example The definite development of interest in employee motivation can be traced back by about a hundred years to the beginning of the twentieth century, when in essence behavioural scientists studied the behaviour and the response to stimuli, with particular emphasis on material benefits derived from work, for the initial studies had led to the belief that workers increased their effort, based on the monetary benefits received. This led to material benefits and its impact on employee motivation becoming the focus of studies and the basis of motivational action within business environments during approximately fifty years of the history of employee motivation (Latham, 2006). 2. Literature Review Several content and process theories on work motivation have emerged from the efforts put in by work motivational theorists, leading to the requirement of further classification in any study of work motivational studies. This classification is based on human behaviour and that which underlies human motivation in the form of needs, reinforcement, cognition, job characteristics and feelings or emotions (Ramlall, 2004). In 1954, the behavioural scientist Maslow published his theory in motivation called Maslow’s need hierarchy theory or the hierarchy of needs theory. In this theory Maslow postulates that the main driver in human behaviour is the satisfaction of an individual’s needs and he categorised these needs consisting of physiological needs, safety needs, social needs, esteem needs and self-actualization needs and put them into five levels (Halepota, 2005). Incentive schemes in business organizations are set up with the purpose of enhancing performance through meeting the needs of the employees. The success of incentive schemes would be high or low depending on the personal context of the employee. In the case of employees at the lower levels of Maslow’s need hierarchy cash rewards by itself act as a means to meeting these basic needs, Those at the highe r levels of Maslow’s need hierarchy may require in addition to cash rewards other rewards, which we could term as ‘satisfaction income’ in terms appreciation, interesting work, freedom at the work and empowerment for satisfaction at the work place. Such rewards have to be fair and irrespective of the various other aspects of motivation at the workplace cash rewards still remain a key incentive for employee performance (Rai, 2004). Kauhanen and Piekkola, 2006, evaluating the motivational effects of performance-related pay schemes and bonus schemes on upper white collar employees in Finland found several important features. Among these features was the finding that for performance-related pay schemes and bonus schemes, the levels of these schemes should be high and frequent enough for positive motivational effects. Lower levels of performance-related pay schemes and bonus schemes do not bring about the desired increase in motivational levels for higher performance behaviour (Kauhanen & Piekkola, 2006) Human relations practices are important to organizational performance

Discussion Week 5 New Product Development and The Product Life Cycle Assignment

Discussion Week 5 New Product Development and The Product Life Cycle - Assignment Example that would initially enhance product awareness and sustain efforts for product recall; and (2) maintaining an effective competitive pricing strategy that would affirm the product’s core competencies and advantage over its competitors through time. An effective and well sustained advertising and promotional campaigns would ensure that the target market would be aptly aware, persuaded to purchase, and affirm loyalty to the product. Likewise, through these efforts, loyal customers would also invite others to purchase the product. On the other hand, maintaining a competitive pricing strategy would assist in confirming that customers would prefer purchasing their product due to other features, in conjunction with their competitive prices, as compared to those charged by competitors. As such, by not pricing the product way above competition or way below, customers would acknowledge preference to their product over their product life cycle. 2. From the e-Activity (Video) located at bottom, imagine you are on the marketing team for the Smart Car Company, which is looking to expand its current automobile offerings. First, propose one (1) possible new product or extension that your team could offer to either Smart Car Company’s existing target or a new target market. Next, formulate one (1) strategy for marketing your product to your selected market. Justify your response by comparing your strategy to the current Smart Car market and the challenges it is strategically facing. A possible new product extension that could be offered to a new target market for the Smart Car Company (Chapter 8: New Products, n.d.) is focusing on offering this to young professionals who are just beginning to exhibit professional growth. Due to the extremely good price which is considerably low, young professionals could be targeted as potential new clients who could easily afford to buy this. After defining this new target market, the strategy to market this product would be designed as