Saturday, August 31, 2019

Different Perspectives in Psychology Coexist Rather Than Conflict

This paper approaches the topic from a consideration of psychological research in the fields of sex and gender and language. It does so in general terms and avoids discussion at levels of detail. Therefore where a reference is made to specific research the intention is to do no more than exemplify a general principle. The paper will conclude that different perspectives in psychology do at times co-exist, though complement and conflict are frequent.It will suggest the lack of a decisive answer is a result of the relative immaturity of Psychology as a discipline and a concomitant lack of adequately powerful theories that might serve to unite otherwise disparate perspectives. A consideration of how psychology approaches the study of sex and gender reveals, amongst others, four significant theoretical perspectives that are for the most part quite distinct in terms of their objects of knowledge and consequent methods of analysis.Biological psychology is concerned with explaining the diffe rences between male and female in terms of hormones, genes and brain structure. It is mechanistic, with a strong empirical tradition. Evolutionary psychology attempts to explain differences between sexes in terms of behavioural selection for reproductive fitness. Whilst in large part necessarily theoretical, it embraces empirical methods as a means of testing theories. Social constructionist psychology approaches sex and gender through the study of discourse in various historical, cultural and social contexts and so is hermeneutic.Finally psychoanalytic psychology primarily uses clinical observation and the study of infants to gather evidence of how humans acquire and develop a sense of sex and gender (cited in Holloway et al, 2007, pp. 127ff). (6) The immediate impression from the above is that the scope for complement, conflict or co-existence is not clear-cut. Given that they do not share common objects of knowledge, the hope might be for complementary theories that together cont ribute to a broad understanding. Certainly the biological and evolutionary perspectives appear complementary at the theoretical level n that both regard biological sex as the determinant of gender and view differences between sexes as biological features that have been selected for during evolution. However, biological psychology attempts to explain differences in male-female psychology in terms of selected physiological characteristics, for example dimorphism in brain structures (cf. Hofman and Swaab, 1991, cited in Holloway et al, 2007, p. 139). On the other hand the evolutionary psychologist would principally argue in favour of selected behavioural characteristics such as differences between male and female sexual attitudes (cf. Clark and Hatfield, 1989, cited in Holloway et al, 2007, p. 146).There is thus an apparent conflict at the level of analysis. It is therefore ironic that evolutionary psychology must perforce co-exist with biological psychology since, given the understand able constraints on its ability to conduct the sorts of empirical investigations that might be wished for (cf. Herrnstein-Smith, 2000, cited in Holloway et al, 2007, p. 173), it is dependent on a certain amount of corroboration from the biological perspective, amongst others (cited in Holloway et al, 2007, pp. 84). (22) Whereas the biological and evolutionary perspectives agree that biological sex lies at the heart of explaining gender, the social constructionist perspective explicitly rejects that view; sometimes for political reasons (cited in Holloway et al, 2007, pp. 185; see Spence, 1984 and Spender, 1980). Social constructionism regards both sex and gender as characteristics that are revealed only through discourse and action. They are a consequence of the individual's behaviour and experience in a given cultural, social and historical context (ibid).The depth of the conflict is exemplified by a comparison of evolutionary studies that emphasise cross-cultural stability in part icular sexual preferences (cf. Singh 1995, p. 148; Buss and Schmitt, 1993, p. 148, cited in Holloway et al, 2007) and social constructionist ideas such as Bem's (1994, cited in Holloway et al, 2007, p. 153) Gender Schema Theory. Crucially, for the social constructionist gender is something that is continually re-established throughout the lifetime of the individual (cited in Holloway et al, 2007, pp. 153). From the biological and evolutionary perspectives, it is predetermined. 33) Whilst the psychodynamic perspective largely complements the social constructionist, in terms of its interpretive or hermeneutic methodology, its explanations largely focus on the unconscious given that its objects of study entail â€Å"the meaning of the biological differences between men and women and how these become internalised in the child's mind† (cited in Holloway et al, 2007, pp. 184).Thus both the social constructionist and psychoanalytic perspectives conflict with the biological and evolu tionary approaches at the methodological level. Uniquely however (ibid, p. 86) the psychodynamic perspective recognises both biological and cultural contributions to it's theorising. It is not without its share of conflict however. Within the perspective, Freudian notions of the opposite sexed p arent as ‘sexual object of choice' and ‘penis envy' (ibid, p. 161f) quickly came under scrutiny of female and feminist psychologists (cf. Horney, 1926, cited in Holloway et al, 2007, p. 163). There is also conflict with evolutionary explanations of rape as an adaptive strategy (compare Thornhill and Palmer, 2000 and Rose and Rose, 2000 cited in Holloway et al, 2007, p. 71, p. 172). (26) Turning to a consideration of the study of language and meaning, one finds an equally intriguing mix of potential co-existence, complement and conflict when comparing the three principal perspectives. The evolutionary perspective sets out to explore the origins of language and its implications for the human species; the cognitive perspective adopts an information processing approach to the transmission of meaning; and the social constructionist perspective focuses on â€Å"meaning making† as a dynamic between interlocutors (cited in Cooper and Kaye, 2007, p. 119).It is possible therefore to view the three perspectives as at least co-existent. Their objects of knowledge are different and one might expect their cumulative product to contribute to some sort of unified theory. Indeed, from the evolutionary perspective Deacon (1997, Cooper and Kaye, 2007, p. 115) suggests that language is a social phenomenon that defies explanation only in psychological, or only in neuro-biological terms. (9) However, the potential for conflict between the cognitive and social constructionist perspectives is revealed in how they view meaning as the object of knowledge.For the former it is something that is constructed internally by the individual prior to transmission, and subsequently rec onstructed by the audience. For the latter it is negotiated as a result of discourse between individuals – meaning emerges as the result of a complex interplay of intentions, interpretations and power-relations. Thus, there is cause for disagreement as to what â€Å"meaning† is and where it comes from (cited in Cooper and Kaye, 2007, p. 102). That this is adequate to justify a claim of conflict seems weak since the types of â€Å"meaning† espoused by the two perspectives are themselves different.Further, at the level of common sense they are mutually sustaining. The very notion of discourse requires at least two participants seeking, though perhaps not achieving, a consensus of meaning. This demands that at some level each participant is cognising about their intended meaning and how the other is construing it. The implication is that the two perspectives ought to complement the other, or at least co-exist. (6) A key social constructionist argument against a pur ist cognitive perspective is that linguistic (and other cognitive) processes cannot be â€Å"transparently reported† (cited in Cooper and Kaye, 2007, p. 11). This argument is one that cognitive researchers have long acknowledged.Commenting on early research into the cognitive modelling of language Boden (1977, pp. 113ff, et passim) notes that a person's understanding of language in a given instance is dependent, not simply on their knowledge of the world around them, but crucially on their understanding of their relationship with their interlocutors. Other researchers emphasise the point (cf. Sperber and Wilson, 1986, cited in Cooper and Kaye, 2007, p. 99). For their part, social constructionists such as Edwards et al (1992, p. 42, cited in Cooper and Kaye, 2007, p. 112) recognise the importance of the cognitive perspective and suggest only that theirs is a new perspective that offers different insights. Therefore, unless a researcher is determined to hold to one or the other perspective as a matter of purist dogma, it seems more reasonable given the disparate loci of the respective objects of knowledge and the statements that each perspective favourably acknowledges the other, then the cognitive and social constructionist perspectives are thus far co-existent. (32)Within the evolutionary perspective there is a debate as to whether language evolved as an adaptational advantage and was the foundation for other cognitive abilities (Pinker, 2000 cited in Cooper and Kaye, 2007, p. 121), or as a consequence of selection for an ability to form and manipulate predictive metarepresentations (Sperber, 2000 cited in Cooper and Kaye, 2007, p. 121). These are polarised and conflicting views. Pinker's would complement the cognitive perspective with its emphasis on information processing, whilst Sperber would complement the social constructionist.However, Deacon (1997) offers evidence that both capacities evolved in parallel. If he is correct, then there are substant ial grounds for seeking a complementary accommodation between the cognitive and social constructionist paradigms. (6) Even from this scant evaluation, one is struck by the disparate objects of knowledge, types of theory and methodologies. The inevitable conclusion is that psychology is characterised by perspectives that at one or more of these levels conflict, co-exist or complement.One might wish for a parallel to the cosmologist's search for a Unified Theory of Matter; where although theories might diverge cosmology has one over-arching object of study and one comprehensive methodology in computational empiricism. Psychologists do not stand on such substantial bedrock. The questions they pose are often difficult to formulate computationally without reducing the predictive power of any solution, or indeed are abstractions that cannot be treated computationally without trivialising them (see Sundem, 2006 for amusing examples).Whereas the history of physics can be measured in thousan ds of years, psychology as a recognisable discipline has existed for just over a century. A sense of internal conflict muted by convenient co-existence and fortunate complement should not therefore come as a disappointment. It is merely an acknowledgement that psychology is still an emerging and diverse field, and that whatever conflict exists can reasonably be attributed to a lack of sufficiently powerful theories with which to reconcile the different perspectives. This essay focuses on the social perspective of psychology referring Language nd Meaning and Gender and Sex. It deals with the relationship between psychological theory and method in a range of material in both chapters, with particular attention to how social influences shape human development and behaviour. Language and Meaning ‘Language and meaning’, is used to describe a social constructionist approach to language. There are several ways in which the social perspective has promoted understanding in this area. There are primarily two different psychological perspectives on language: cognitive and social.These approaches take evidence from different research bodies, each of which have a different focus As social beings, we continuously interact with other people, thinking about our use of language and how it may best serve us. The social constructionist perspective sees language as a way of creating meaning between individuals as they interact. The social psychological perspective defines the human world as being created through language, making it one of its most powerful and important features. This approach to language sees people using language to take action and achieve objectives.Language is seen as a means by which goals might be achieved. The social psychological approaches to language therefore focuses on understanding language and its meanings as a social process. It sees language as an interactive process between people. It is seen as social because it involves this very i nteraction, and it is through this social interaction that meaning is created. Social psychology argues that there is more to language than the knowledge of syntax, semantics, phonics and coding and other rules of language, even if these are described as being interactive within a cognitive approach.This argument helps define the contrast between social psychological and cognitive approaches to language. In social psychological perspectives, the purpose of language is not to reflect thoughts and emotions and convey them neutrally to someone else. Instead, the motivation for language is defined by the desired action brought about by the use of language. Social psychological approaches to language do not place meaning inherently in the constructions of language such as lexicon, grammar or semantics in the same way as cognitive approaches do.One of the methodological complexities involved in researching language is that we must use language itself as the means by which we research it a s a subject in its own right. This issue is at the centre of the tension that exists between cognitive and social approaches to language. The paradox here is that the necessity of responding in language may predetermine what is said about language. The cognitive perspective assumes that there are separate cognitive processes that language can represent in communication to others, or in dialogue with the self.The accuracy of this depends upon how closely language communicates the cognition behind it. Cognitive psychologists believe that the thinking that underlies language can be studied accurately and in social isolation. However, discursive psychology argues that, when people use language, they do so in a social context, with an audience and for a reason. The social constructionist approach views language as the means for the socially produced meaning. It is the means by which people construct their world, interact with others and set out to achieve their objectives.The cognitive a pproach sees language as the part of the cerebral information processing. It can be argued that meaning is generated by people as they communicate. There is therefore a tension between the social constructionist and cognitive perspectives with respect to meaning and whether it is communicated between people or constructed between them. The social constructionist perspective on language is that it is a tool for social interaction. These different views of language have different implications – the cognitive perspective is that language underpins human thought.The social constructionist approach has no particular implication for the relationship of language to thought as it places language firmly within a socially constructed context. Sex and Gender ‘The psychology of sex and gender’, is used to refer to the social constructionist approach to sex and gender. There are several ways in which the social perspective has promoted understanding this area. With respect to the two terms (sex and gender), there is a distinction between the biological and the social.However, biological sex may also be expressed in behaviour that is influenced by social factors and psychological meanings. Therefore, as labels, sex and gender may only be useful as theoretical constructs. However, gender is usually taken to refer to social constructs that pertain to biological differences. These sex differences can be the result of interactions between biological, psychological and social processes. Social constructionist psychology looks at how sex and gender have been constructed within particular social contexts.It examines these social constructions and their influences. The social constructionist perspective is based upon the theory that the construction of meaning through language and social practices as discussed in the section above has produced patterns of behaviour, cognition and emotions that are gender-differentiated. Social constructionism argues that behavio ur cannot be directly explained solely by biological, reproductive sex. It also argues that the world is constructed to have two biological types (male and female) who have many diverse social and behavioural manifestations.This suggests that the many discourses of masculinity and femininity are socially produced. Social constructionism sees reproductive sex as being the visible difference between the sexes that provides the basis for a range of socially constructed gender differences. According to this perspective, biological sex is not central to explaining gender identity, but is a visible indicator to which a range of socially constructed gender differences are attached. Discourses about masculinity and femininity are therefore used by individuals to create their own gendered positionality.Gender is seen as being constructed throughout life, as behaviour and experience is defined through cultural manifestations of gender. Evolutionary psychologists also acknowledge social influe nces on sexual behaviour. However, they provide no systematic way explaining this in their experimental approach. The strength of the social constructionist approach to gender is its ability to take into account the social and cultural contexts of individuals. Evolutionary psychology however does offer some explanation of the origins of gender difference.The social constructionist perspective argues that sex is not central to explaining gender differences. Evolutionary and social constructionist perspectives have contrasting ideas about the relationship between sex and gender. Psychoanalytic psychology takes a different approach to social constructionism’s emphasis on external influences in determining people’s behaviour. However, both social constructionism and psychoanalysis are based upon the interpretation of meaning.Unlike evolutionary psychology, psychoanalysis, in common with social constructionist psychology, believe that the researcher’s positionality a nd subjectivity is inevitably involved in research. The onset of puberty is an example of the convergence of biological, psychoanalytic and social constructionist perspectives. The psychoanalytic and social constructionist approaches use methods that consider people’s beliefs and experiences, and focus on the interpretation of meaning by relying on the interpretation of symbolic data.The social constructionist perspective examines the importance of culture in the construction of gender. The psychoanalytic perspective acknowledges both the importance of biological difference and the social and cultural meanings inherent in this difference. The social constructionist and psychodynamic perspectives may be seen as complementary to each other in terms of methodology, as both use approaches are based on a hermeneutic theory to understand the meanings of gender.Conclusion The social constructionist perspective underpins discursive psychological theories of meaning as emerging from c ontext and interaction. Although the social perspective goes some way to addressing the influences of language and gender issues, there are some aspects which are also given a different perspective by other approaches. This can be seen in the sometimes useful linguistics frameworks of syntax, phonics, semantics etc. which is adopted by cognitive psychologists.In some instances the social perspective complements other perspectives. Such an example is psychoanalysis in the area of sex and gender. However, in other instances it more commonly just co-exists, for example in the case of social constructivism and evolutionary psychology. Social constructivism is in clear conflict with the cognitive perspective in the area of language as illustrated and argued above. Cognitive and social constructionist perspectives make conflicting assumptions about communication.

Friday, August 30, 2019

Evolution of Management Thinking Essay

It was an era where so many alterations in the world Economy took place. In the closing decades of the 19th century there was a quest of seeking innovative ways to increase organizational efficiency and effectiveness. The Scientific Management Theory initiated on the basis of that. In this period of time crafts production was substituted by large factories in which a lot of technical revolutions have been taking place. The owners and managers were not capable of coping to these challenges therefore they hunted for advanced techniques to overcome this situation. As a solution the concepts of Job Specialization and division of labour came about. In this scenario workers who specialized in their respective tasks became more skilled. The Scientific Management Theory Fredrick W. Taylor was the architecture of the concept Scientific Management, â€Å"The systematic study of relationships between people and tasks for the purpose of redesigning the work process to increase efficiency†. It was believed that the most effective and efficient division of labour could best be determined by the concept of Scientific Management. There were four core principles in this concept. * Investigation and experimentation on organization performance * Codification of new methods/standards * Selection of employees according to codified standards * Establishing a level of performance and a pay system with rewards In 1910 most of the organizations were using this concept but selectively. Even though there was an increase in performance some disputes about this concept lead to an increase in trade union involvement. There were some major issues in this concept. * Availability of fewer jobs * Job dissatisfaction * Distrust among employees and employers. Some organizations redesigned the principles according to their vision. For example introduction of moving conveyer belts in Henry Ford’s factory can be taken in to consideration. However these approaches were not able to solve the emerged issues. Nevertheless Taylor’s work had a lasting effect on management production systems. Frank Gilbreth and Lillian Gilbreth who were the successors of Taylor studied how the working environment influences the performance of the employees. They made a heavy contribution in time-and-motion study. They demonstrated that by following arrangements organizations can solve their issues effectively. * Breaking up each job action into its components. * Finding better ways to perform the action. * Reorganizing each job action to be more efficient Administrative Management Theory Researchers attempted to discover how to create an organizational structure that leads to high efficiency and effectiveness. Theory of Bureaucracy was developed by Max Weber as a succession of these researches. Bureaucracy is basically a formal system of organization and administration designed to ensure efficiency and effectiveness. There were several principles in this theory. Weber identified several factors there should be in a bureaucracy system. Simultaneously Henry Fayol identified 14 principles that should be vital to increasing the efficiency of the management process according to his perspective. These studies of Fayol and Weber laid the foundation of modern management theory. Behavioural Management Theory This is the study of how managers should behave in order to motivate employees and encourage them to strive towards high levels of performance as an organization. In the previous theory there wasn’t a major concern about the employee viewpoint. Thus Mary Farker Follett explained why it is important to think about the human side of management. According to the studies of Follett managers should behave as coaches and facilitators –not as monitors and supervisors and the importance of direct inter communication between managers of different departments to make speedy decisions. She also promoted the concept of â€Å"cross functioning† which has been used in a great scale at present. Hawthorne effect is the discovery that a manager’s behaviour and leadership approach can affect the level of performance of employees. From this study emerged the concept of human relations movement. It is basically how the supervisors should be behaviourally trained to spice up worker’s motivation, cooperation and increase their productivity. Informal organization is one of the implications of Hawthorne effect. This is the system of behavioural rules and norms that come out in a group. The study of factors that have an impact on how individuals and groups react to in organizations has been identified as the organizational behaviour. Apart from these mentioned here the most significant approach was developed by Douglas McGregor. He supposed two different sets of assumptions which were named as Theory X and Theory Y. Management Science Theory This is a modern extension of Scientific Management Theory in this approach describes how precise quantitative techniques can be used in order to make the best use of organizational resources. Quantitative management emphasises on how arithmetic can be manipulated to achieve best practises in inventory and financial capital control. Operations management presents a set of techniques that can be utilized to improve production efficiency Total quality management focuses on the art of how the whole can be managed to achieve excellence. Management information systems provide the managers with adequate information about internal and external events of an organization to effective decision making. Organizational Environment Theory This is the set of conditions and forces that functions externally to the organization but affect a manger’s capability to acquire and utilize resources. This clearly stresses on how important it is to study the environment. The open systems theory and contingency theory developed in 1960 ascertains the importance of the importance of studying the environment. The Open –Systems View This is a system where external resources are acquired and converted into goods and services then sent back to customers for purchasing. And the cycle carries on. This system is considered as an open system. Organizations which use a closed system are likely to experience entropy, the tendency of a system to lose its ability to control itself and thus to dissolve and collapse. Contigency Theory It discloses that there is no best way to organize therefore characteristics of the environment affect an organization’s ability to obtain resources. Types of structures Above describes the differences between the structures. In conclusion managers in a Mechanistic structure can obtain inputs at a lower cost preferably in a stable environment and managers in an organic environment can react more quickly in a rapidly changing environment. These contributions constructed the foundation of modern management theories. References: New Era of Management Concepts and Applications 2nd Edition Richard L. Daft, Vanderbilt University Contemporary Management fifth edition Gareth R. Jones, Texas A & M University Jennifer M. George, Rice University

Thursday, August 29, 2019

Succubus on Top CHAPTER 19

The dealer's house sat away from the road, just like all sinister houses should, I suppose. My biased perceptions aside, there was actually little else about the house that was all that creepy. It was big and expensive-looking, spreading out lazily on beautifully manicured lawns, visible to me even at night. In a region where yards were at a premium, that much land signified a great deal of money. Unlike Bastien's place, this house had no similarly well-to-do neighbors. This house was in a class of its own; it could not be part of a mere suburban neighborhood. â€Å"Where are we?† I asked, because it seemed like the kind of naive, starry-eyed question I should be asking. Alec had met me downtown and then driven me out to this place in his own car. We were about twenty minutes outside the city. â€Å"This is where the guy lives,† he told me happily. His mood improved as we got closer to the house. â€Å"He'll hook you up.† The car followed the long, sinuous driveway and came to a stop by the garage. In an oddly chivalrous way, he opened the car door for me and gestured that I follow him inside. Glancing back at his beat-up Ford Topaz, I couldn't help thinking that being an immortal drug lord's lackey should pay better. Alec led us through a side door in the house, and even I was taken aback at what I found inside. The first word that came to mind was lush. And not the drunk kind either. I meant in the opulent sense, the kind of lush you sink your teeth into. The walls, floor, and ceilings consisted of gleaming dark hardwood, almost like we were inside a lodge – say, a lodge that cost seven figures. Beams of that beautiful wood crisscrossed the open, cathedral ceiling. Jewel-toned oil paintings in gilt frames hung on the walls, and I had enough of a sense for the value of art to recognize they had not come from Bed Bath & Beyond. We crossed out of the foyer and found more of the same in a large living room. Its focal point was an enormous fireplace whose brick faà §ade stretched to the ceiling. A multicolored stained-glass landscape hung above the fireplace's opening, and flames from the roaring fire – along with several strategically placed candles – cast the only light in the room. Nothing electrical. In that dim, flickering lighting, I sensed the man before I saw him. The same unfamiliar immortal signature from the concert carried to me, coupled with something else. This close to him, I noticed how much he felt like the crystals. Or rather, how much the crystals felt like him, as if they were pale, fractured versions of the masterpiece. The whole vibe from him felt weird but not quite as discordant as the crystals themselves had. â€Å"Alec,† said a creamy voice, â€Å"who is your lovely friend?† The man unfolded from the couch, standing in one fluid motion. I now saw the same features as before: flawless tanned skin, long black hair, high cheekbones. He also wore the same hot Victorian couture, complete with another of those gorgeous silk shirts that billowed around his arms and showed smooth skin through the V-neck. â€Å"This is Georgina,† said Alec, voice quaking with nervousness and excitement. â€Å"Just like I said.† The man glided to us and took my hand in both of his. â€Å"Georgina. A beautiful name for a beautiful woman.† He drew my hand to his lips – which were full and pink – and kissed my skin. He held my hand a moment, letting his dark eyes bore into mine, and then he slowly straightened up and released me. â€Å"My name is Sol.† I turned off all my impulses to make snappy jokes and/or maul this guy, instead opting for stunned innocence mingled with a little fear. â€Å"H-hello.† I swallowed nervously and looked down at my feet. â€Å"You've done well,† Sol told Alec. â€Å"Very well.† I didn't have to see Alec to tell he was practically melting with relief. â€Å"So†¦does that mean†¦I can, you know†¦?† â€Å"Yes, yes.† Unless I was mistaken, a slight note of irritation underscored that pleasant voice. â€Å"Afterward. Go upstairs now. I'll summon you when I'm ready. â€Å" Alec started to leave, and I grabbed his sleeve, still playing frightened maiden. â€Å"Wait – where are you going?† He smiled at me. â€Å"I'll be right back. It's okay. You wanted more, right? Sol's going to get it for you.† I must have truly looked terrified because he squeezed my arm reassuringly. â€Å"It's okay. Really.† I bit my lip and gave him a hesitant nod. His eyes held mine for a moment, and something very like regret flickered across them. Then he left. â€Å"Come sit with me,† intoned Sol, taking my hand again. He led me to a sumptuous couch by the fire. Warmth from that orange glow spilled over me, and the flames were reflected in his dark eyes. I sat down gingerly, scooting back because the cushions were so big. We sat there quietly. He smiled expectantly, and I gave him a faltering smile back. â€Å"Alec said you could give me more†¦you know†¦of that stuff.† â€Å"You enjoyed it then?† â€Å"Yes. Oh yes. It made me feel†¦Ã¢â‚¬  â€Å"Immortal?† â€Å"Y-yes, that's it. Please. I need more. I can pay you†¦whatever you want.† He waved a hand carelessly. â€Å"We'll discuss such mundane matters later. For now, let's see if we can't satiate your hunger.† He leaned over to a small table and lifted up two goblets. Goblets. How quaint. â€Å"This should tide you over until we can arrange a larger batch.† I took the cup from him. It felt heavy, like gold. Nothing but the best if you were going to drink the food of the gods, I thought. They held a dark red liquid. If the crystals felt like a weak approximation of Sol, the aura radiating off of this cup felt like mega-Sol. It was intense and strong, making the vibe from the crystals seem like a total nonevent. Maybe that was what happened when ambrosia liquefied. I realized then he'd been waiting for me while I pondered. â€Å"Drink up.† I hesitated, not having to feign apprehension this time. Drink up? What should I do? If I didn't drink, my cover might be blown, and I still hadn't had â€Å"provocation† to smite this bastard or whatever one did to someone with a dart-arrowhead-thing. Carter and Jerome had said ambrosia wouldn't hurt an immortal; they'd even said an immortal could resist its nasty effects to a certain extent, much longer than humans. That didn't necessarily make me feel better, though. I preferred to be in my normal range of skills to deal with this, but it looked like I didn't have that luxury. I couldn't delay any longer. Smiling shyly, I brought the cup to my lips and drank. He did the same. Who could tell? Maybe personality amplification would help me out here. Maybe I had a secret Amazonian alter ego lurking within me who was dying to jump out via the ambrosia and bludgeon this guy with a goblet. Once Sol started drinking, he didn't stop. He tipped the cup back until he'd consumed it all. I followed suit. The stuff really didn't taste so bad. In fact, it tasted sweet, almost sickeningly so. Weirdest of all was its consistency. Thick. Almost viscous. â€Å"There,† he said, taking my empty cup. â€Å"You'll feel better soon, and then we can talk reasonably.† He shifted into a more comfortable position, long legs stretched out and relaxed. He had a slim build and delicate features. His narrow fingers wound one of his black curls around it. â€Å"Tell me about yourself, Georgina. What do you do?† â€Å"I, uh, work in a bookstore.† â€Å"Ah, you're a reader then.† â€Å"I try to be.† He inclined his head toward a wall covered in books. â€Å"I'm a reader myself. There's no greater pursuit than improving one's mind. â€Å" He started talking to me about some of his favorite books, and I smiled and commented as appropriate. As we talked, I began to feel†¦well, for lack of a more descriptive term, good. Really good. Almost like I was buzzed from an excellent liqueur. My limbs tingled a little, and a warm sense of euphoria burned through me. I heard myself laughing at one of his jokes. I almost sounded genuine. â€Å"You're very beautiful,† he suddenly said, and I wondered when he'd moved so close to me. I had to blink to stay focused. The room spun slightly, and my hands and feet kept delaying in obeying my orders. Sol reached out and touched my cheek, trailing those graceful fingers down my neck. â€Å"Your beauty is a gift.† I tried to move, mainly to see if I could actually manage it, not to avoid his touch. Honestly, his touch was pleasant – extremely pleasant. It made my pulse pick up a little. I could, I soon discovered, still move. I was just a little sluggish. â€Å"Shhh,† he crooned, placing a restraining hand on my wrist. â€Å"Don't be afraid. Everything will be all right.† â€Å"W-what are you doing?† He had an arm around my waist now and was moving his mouth toward the spot where my neck met my shoulder. His lips, when they touched flesh, were warm and full of promise. I trembled a little under that kiss and tried to figure out what was going on here. The short answer, obviously, was that something had gone wrong. I felt dizzy and disoriented enough to be at a frat party over at U.W. On top of that, this immortal – this strange immortal I barely knew – suddenly seemed more alluring than I'd imagined possible. Hadn't I come here to kick his ass? Why was I making out with him? Was this what ambrosia did to me? Were these my core traits – the power to get buzzed and take pleasure in sex? To become even easier than I already was? His hands moved down and unbuttoned my shirt so they could slide down and cup my breasts, which were just barely covered by the black mesh bra I'd bought with Dana. He kissed me directly now, his mouth pressing against mine. As his tongue delicately slipped between my lips, I tasted a sweetness akin to the ambrosia. Bottom line: it needs to be self-defense. So Carter had said, but suddenly I didn't really need much defending – unless it was from myself. My own hands were moving without my conscious knowledge to unfasten his pants, and our bodies were becoming entwined together on the soft cushions. Self-defense. Self-defense. Why self-defense? What was I forgetting here? Ah, of course. The dart. I pushed through the red haze muddling my senses, forcing clarity. The dart. The dart would stop Sol somehow, stop him from continuing to spread the poison of ambrosia. It would stop him from hurting people†¦like Doug. I battled through my disorientation and pulled my mouth away from Sol's, attempting to squirm the rest of the way out of his grasp. I won a little room but not much. He was still close. â€Å"No†¦Ã¢â‚¬  I gasped out. â€Å"Don't do this. Stop.† Sol, regarding me with surprised amusement, shushed me. â€Å"You don't know what you're saying.† â€Å"I do. Stop.† I wriggled one arm free, one arm that then snaked to the pocket containing Carter's pouch. I needed the other arm free too, but Sol was holding it. Looking down, I suddenly saw that his wrist was bleeding. How had that happened? I hadn't caused it. â€Å"Georgina, you are about to be honored above all mortal women. Lay back. Stop struggling. No harm will come to you. You will enjoy this night, I promise.† He moved his mouth back to mine, and again that blazing euphoria swelled within me. A traitorous moan of pleasure caught in my throat. Taking this as submission, Sol's grip on my restrained arm lessened, and I shifted it away just enough that both of my hands now touched the pouch. Yet, it was a hard battle. My motor control still wasn't all it should be. Kissing him, in that moment, seemed much more important than some silly pouch. My mind didn't want to focus on anything else. But I forced it to. Through sheer strength of will, I pushed the physical pleasure out of my head and instead replayed every consequence of the ambrosia I'd seen: Casey's devastation, Doug's wild swings from darkly frenetic exuberance to even darker depression, and finally his limp body in the hospital. Mortals are fragile things. Very fragile. And Sol played with them as if they were nothing. The smoldering coal of my anger began to burn again. He's a stronger immortal than you. Preying on you – especially when you belong to Jerome, so to speak – is a big no-no. You would be justified in protecting yourself. Again, I pulled my mouth away. â€Å"Stop,† I said again more firmly. â€Å"I want you to stop. Stop doing this.† â€Å"I'm not going to stop,† Sol snapped. Anger marred his honeyed tone. His breath was heavy, and his chest heaved with exertion. He – or I – had removed his shirt, and I had a perfect view of that unprotected skin. â€Å"I'm not going to stop, and believe me, once I start, you won't want me to stop either.† My fingers moved to open the pouch; the other hand slowly readied itself to reach inside. The ambrosia in my system dulled my reflexes, but I kept battling through it and sized up where in his chest his heart would be. â€Å"I've asked you three times to stop. Once should have been enough. No means no.† â€Å"No means nothing from someone like you.† He laughed a little, still not taking me seriously. â€Å"What's wrong with you? I thought you wanted to be immortal.† My hand was inside the pouch, pulling the dart out. Sol and I both felt its power at the same time, just as he realized what I was. His eyes widened, but I didn't give him time to react. I didn't think or falter. Just as Carter had ordered, I simply took action – well, with a cheesy punch line, of course. â€Å"Been there, done that,† I said, slamming the dart into his heart. For half a beat, Sol froze, unable to believe this was happening. And that's when things got messy.

Wednesday, August 28, 2019

Abercrombie & Fitch case study exam Essay Example | Topics and Well Written Essays - 3500 words

Abercrombie & Fitch case study exam - Essay Example Another example is the complaint mail and lawsuit threats that A&F received for their racy and explicit ads. There, the activities in the micro-trading environment of A&F were influenced as the company decided to take measures against the complaints. B. There are several major macro trends that are impacting on A&F’s sales performance in the UK. The first is the economic trend of high cost of overhead. Secondly, the products are being sold at a considerable mark-up from United States prices, which is a competition trend. Third, a social trend is that the fashion scene in the UK is similar to that in the USA, but must also be followed carefully to ensure that the products that hit the stores are the ones that customers want. The fourth is a social trend mentioned in the case brief is that UK customers are attracted by that souvenir appeal. Customers previously would only buy A&F merchandise on a visit to the USA, and this is affecting the company’s popularity now that they have moved to the UK. A. The Augmented Product model is represented by 3 circles: inner, middle, and outer. The inner circle represents the core products that are seen at every A&F store; i.e. basic jeans and logo t-shirts. These are expected by every consumer at every store. The middle circle represents the products that are just beyond the basic elements; i.e. clean and comfortable stores. In order to be classified as a quality provider, A&F needs these elements. The outer circle represents the surprises that customers are not expecting if they have never been to the store before; i.e. the loud music, lighting, and fragrance. This is what really sets them apart from their competitors. B. They take painstaking care to always be abreast of the latest clothing looks and they even design their stores (with the loud music, lighting, and fragrance) to appeal to the trendy

Science Essay Example | Topics and Well Written Essays - 1000 words - 1

Science - Essay Example The results also show that there is a mix community of methicillin resistant staphylococci on the keyboards since methicillin resistant S. Epidermidis and S. haemolyticus were isolated from the computer keyboards. The investigators then concluded that even though there is low prevalence of methicillin resistant Staphylococcus aureus, their presence, coupled with high volume of traffic on these student computer terminals is a demonstration of higher risk. The public access computers have potential to act as reservoirs for Staphylococcus aureus. The hypothesis in this study was that; the prevalence of methicillin resistant Staphylococcus aureus on computer rooms and public access computers was high and the keyboards contains strains implicated in disease outbreaks. The research question was that is there high prevalence of methicillin resistant Staphylococcus aureus on computer keyboards of public access student computer terminals. The dependent variable in this study was prevalence rate of methicillin resistant Staphylococcus aureus (MRSA) while the independent variable was the specimen collected from computer terminals used by the students in secondary and post secondary school. The dependent variable which is the prevalence of MRSA was controlled by following the standard procedure in the collection, handling, inoculation and isolation of Staphylococcus aureus. In this regard the prevalence rate was only read after the growth and isolation. It is important to note that there could be many bacterial growth from samples collected from computer terminals, however, through the use of selective media, mannitol salt agar (MSA), only Staphylococcus aureus could grow. Specimens that are the independent variables were controlled by ensuring that all specimens were collected from the computer keyboards alone and a standard procedure was used to collect, label, prepare and preserve the specimen. The

Tuesday, August 27, 2019

Catholic Essay Example | Topics and Well Written Essays - 2000 words

Catholic - Essay Example After the death of Jesus the Christian belief became an independent faith, but a faith persistently persecuted by the Romans. The disciples of Jesus and their descendants would spread the word the gospels and the path to salvation through Jesus (Fairchild 1). It would not be until after the Romans abandoned their pantheon of Gods and adopted Christianity as their official religion that such persecution would stop. This is how the Roman Catholic Church was born (Bellitto 1-2). Its power spread throughout the lands and Rome conquered under the name of Jesus forcing many to convert under duress. It became and remains one of the most commonly practiced religions in the world. With the onset of the Scientific Revolution the belief in faith showed a bit of decline as the influence of science, logic, and rationale was embraced. However, that did not diminish the Church for long. Even today the number of people who admit that they are Catholic is higher than ever in certain states around the country. However, the number of people actually attending Church services has greatly diminished. There is a demographic change being seen in the faith, as well. Catholic congregations tend to be elderly women, middle class Caucasian families with small children, and Hispanic or Latino families. The number of young females of all age categories has heavily diminished, primarily because of the highly patriarchal interpretations of spiritual passages, there vocal position on the issue of birth control, and there diminishment of women’s rights have turned many young females from Catholicism as a religious option. However, despite these changing demographics and shifting Church presence experts remain confident that Catholicism will remain a top faith well into the future (Briggs 1). Again, as previously mentioned, experts on the subject of theology are confident that Catholicism will continue to have strong membership into the near future (Briggs 1).However, there are other opi nions that reference the fact that with the changing, globalization of the world it is imperative that all institutions, including Catholicism, will need to reform, reinvent, or innovate their perspectives to meet the changing times. If not, it is likely, that the distance between the logical, technological thinkers and those that practice religion will widen. In the next 5 years or the next decade it is likely that they will maintain their popularity, however in 25 years the world will have changed and if Catholicism, along with other faiths, are not willing to adapt to those changes it is possible that their number of believers will plummet. Teachings of the Group In the most basic explanation Catholics believe that there is One Almighty God, who created all the universe and the world we live upon and then created man in his image in a the Garden of Eden. He sent his son to be born of perpetual virgin, Mary, and then grow to become the leader who would lead them to salvation for t heir immortal souls. They believe that Jesus Christ is the means to salvation of the soul; which is extremely important to Catholics. If one is too heavy with sin they will spend eternity in Hell, while those who are free of sin and lead a â€Å"good life† will be allowed to enter the gates of Heaven. They believe that the Bible expresses truths that are not open for debate. They

Monday, August 26, 2019

Plea Bargaining Essay Example | Topics and Well Written Essays - 750 words

Plea Bargaining - Essay Example Besides, the delay of justice inherent in legal trials will also practically amount to a denial of justice. Therefore, plea bargaining is a legal option when a defendant willingly agrees to settle a particular case under certain conditions and guidelines. Plea bargaining allows for a settlement of many cases outside the court when the two adversarial sides agree to reach an agreement (Goldstein, 1985, p. 62). In cases subjected to plea bargaining, either of the two sides, which are either the defendant or the prosecution, can initiate negotiations for plea bargaining, if both sides are willing to reach an agreement (Goldstein, 1985, p. 63). Plea bargaining usually involves a defendant pleading guilty to some or all of the charges levied against him or her, in return for which the prosecution makes recommendations for leniency in the sentence to be awarded to the defendant (Goldstein, 1985, p. 63). The hallmark of plea bargaining is that under no circumstances a judge is bound to hono r the recommendations made by the prosecution (Goldstein, 1985). Much of the plea bargains are subject to the court approval. Though the option of plea bargaining has its positives, yet it is also predisposed to certain demerits. Plea bargaining allows a defendant to avoid the loss of time and resources required for defending him or her (Tonry, 2000, p. 469). Plea bargaining also allows a defendant a chance to avoid stringent and harsh sentences and the accompanying negative publicity that a full trial may achieve (Tonry, 2000, p. 469). This also saves the courts the burden of carrying out a full trial of all the charges brought before them. By engaging in plea bargaining, the prosecution also saves on time and resources. Besides, it goes without saying that a criminal trial involves much uncertainty and anxiety. Plea bargaining helps concerned parties to avoid such uncertainty and anxiety (Tonry, 2000). Plea bargaining readily offers a conviction to the prosecution and allows one t o shape the sentencing as per one’s inclinations and aspirations (Tonry, 2000). Plea bargaining also has a favorable impact on the already overcrowded prison system. Plea bargaining also has its demerits in the sense that the detractors of this option hold that it offers to the criminals an easy way out of the criminal justice system (Saney, 1986, p. 139). The other disadvantage of plea bargaining is that it is open to the approval of the courts. If a court does not agree to an agreement achieved through plea bargaining, the case is left open to a full trial (Saney, 1986, p. 139). Plea bargaining is also harsh on the defendants in the sense that once a defendant pleads guilty and signs an agreement reached through plea bargaining, one will be left with no option to submit an appeal at a later stage if the case goes for a full trial (Saney, 1986). Though it is pragmatic to conclude that the option of plea bargaining helps the courts being crippled by a deluge of trials, still the criminal justice system needs to contrive better options which would allow for the exercise of justice without weighing heavily on the scarce resources at its disposal. Luckily, besides plea bargaining, many other legal options are available to the criminal justice system. Diversion programs stand to be one such option.

Sunday, August 25, 2019

Proposal for Corporate social responsibility Assignment

Proposal for Corporate social responsibility - Assignment Example Therefore, this study represents an important contribution to the CSR literature in US (Aaronson & Reeves, 2002, p.59). This research examined the relevance of and the theoretical contributions of different management theories, particularly the triple bottom line and the competitive advantage theory that help managers understand the relevance of competing through quality assurance. The Competitive Advantage -This is an advantage in the intrinsic and extrinsic parts of the company and this theory is concerned with the competition between the company and its competitors through offering better values than their competitors (Competitive advantage ,2010, p.102). Strong values come from the culture of the company which later transforms to be the values of the customers and later the values of the society. Values generally come from the customers and the stakeholders which are both important to the success of business. Developing values that are sustainable will depend on the relationship of the organization with the employees, partners, shareholders, suppliers and also media (Enquist & Edvardsson, 2009, p.89). Brands are very important for any company as they communicate to the customers or every stakeholder the image of the company and their products. In order to stall the â€Å"values-based service brand† the company must employ CSR strategies to maintain its business in long run. Virtually, CSR serves the best way to communicate to all the customers and stakeholders in an efficient manner. These strategies touch with values of service brands and enable the company to obtain the good resonances from all stakeholders (Enquist & Edvardsson, 2009, p.234). In the business activities carried out today, many strategies are outlaid in running them. Of late, CSR has developed swiftly. Individuals have started demanding that companies take their social responsibility in their

Saturday, August 24, 2019

Multiple Regression Essay Example | Topics and Well Written Essays - 2500 words

Multiple Regression - Essay Example They help in assessing the likely value of the regression coefficients in the population. Model Fit: It provides a statistical test of the models ability to predict the outcome variable and also the value of R, R2 and adjusted R2. Estimates: They give the estimated coefficients of the regression mode. The test statistics and their significances are also obtained for each regression. Here T-test is used to see whether each b differences significantly from zero. Durbin Watson: This test statistic tests the assumption of independent errors. If the value is different from value Z, then it is cause of concern. When this data is run on SPSS taking Satisfaction as dependent variable and functional, Epistemic, Social, Emotional, Conditional as independent variables, we get the following outputs. The first output is the Descriptive statistics. Descriptive Statistics Mean Std. Deviation N Satisfaction 5.1369 1.18900 389 Functional 5.4989 .91570 389 Epistemic 5.3492 .95148 389 Social 5.3209 1.27152 389 Emotional 5.4961 1.04150 389 Conditional 3.4679 1.01706 389 This table gives the mean and standard deviation of each of the variables. This is useful for summary of data. Correlations Satisfaction Functional Epistemic Social Emotional Conditional Conditional Pearson Correlation Satisfaction 1.000 .555 .618 .339 .565 .004 Functional .555 1.000 .509 .221 .520 .011 Epistemic .618 .509 1.000 .328 .531 .109 Social .339 .221 .328 1.000 .338 .148 Emotional .565 .520 .531 .338 1.000 .154 Conditional .004 .011 .109 .148 .154 1.000 Sig. (1-tailed) Satisfaction . .000 .000 .000 .000 .471 Functional .000 . .000 .000 .000 .415 Epistemic .000 .000 . .000 .000 .016... Once the dependent and independent variable are selected, the method for variables to enter can be selected or to be removed using any of the methods say stepwise, Remove, Backward or Forward. When clicked on the statistics, the estimate confidence intervals and model fit are selected and in the residuals Durbin-Watson is selected. The significance of each of these is as follows. Estimates: They give the estimated coefficients of the regression mode. The test statistics and their significances are also obtained for each regression. Here T-test is used to see whether each b differences significantly from zero. The correlation matrix gives the Pearson correlation coefficient between every pair of variables. It also gives the one significance of each correlation. Here we observe that the correlation is significant with p

Friday, August 23, 2019

Political Act Essay Example | Topics and Well Written Essays - 1000 words

Political Act - Essay Example He resigned the Yugoslav presidency amid demonstrations, following the disputed presidential election of September 24, 2000. (wikipedia.com). He surrendered to the JSO (an elite group of police in Serbia), to avoid forced arrest in April 1, 2001. This put in compliance with an American deadline. The warrant had previously been made on suspicion of corruption, abuse of power, and embezzlement. The charges were domestic. The legitimacy of the arrest was not proven since Milosevic surrender; however putting Milosevic in jail is not legal. The investigation does not have a hard evidence to convict the former president. The Serbian Prime Minister Milosevic act during the war convicted him for committing war crimes. During the Yugoslav war in 1990 and Kosovo war in 1999 he conducted his own defense at the International Criminal Tribunal for the former Yugoslavia, where he stood accused of crimes against humanity, violating the laws or customs of war, grave breaches of the Geneva Conventions and genocide. The decision of the court of not giving him the proper medical treatment is legitimate in the sense that he is convicted of a crime, but the said action is illegal since every person is entitled to have a proper treatment. His trial ended without verdict because he died during the proceedings. He suffered from heart ailments and high blood pressure. In the case of President Milosevic he had made a legitimate act during the war since he is the president; however he violated the laws of war and the Geneva Conventions. The political acts performed by Milosevic are a good example of legitimate act but legal. There are also cases wherein political act is legitimate but it does not necessarily need to be legal. In the case of the American and the British decision to attacked Iraq and engaged into war is legitimate. In the inquiry of people in the website of Noam Chompsky one question goes like this: "Do you think that, after the unjustified and unjustifiable war against Iraq, the world will lose the meaning of its existence, like in the field of language, when we lose the grammatical rules Will we automatically lose the reference of the meaning of sentences, and consequently the meaning of the world around us" Noam answer this question by citing one statement done by a follower of the Iraq war, Michael Glennon, who argues that we should recognize that international law and international institutions are what he calls hot air. They have proven their inapplicability by the fact that the United States disregards them, and he says it is right to disregard them, and the United States must maintain the right to use force as it chooses, independent of these institutions, which we simply have to dismiss and disregard. The act of Americans and British against Iraq has gain criticism throughout the world. But the said act is legitimate. The legality of attacking someone is not being followed especially during the time of war or the need to have a war. In the case of the American President he needs to make decisions depending on the

Thursday, August 22, 2019

History of Vehicles Essay Example for Free

History of Vehicles Essay Vehicles had provided humans a means of transportation and vehicles had been a great help in building early civilizations such as of Mesopotamia with its chariots, Egypt with its reed boats, and China with its wheelbarrow. The old had been improved; the new had been invented; and the future had been conceptualized. These had been the cycle of vehicles through the change of time. Looking ahead†¦ The Wheel and the Ship (3500 BC) The oldest wheel discovered was in Mesopotamia and is believed to be over fifty-five hundred years old. Rock drawings of ships were found in Egypt and are believed to have been drawn around 6000 BC. These thus proved that wheel and ships are known by man at that very early time and were used as a part of their trading and technology. Wheels are taught to had been conceptualized when â€Å"humans realized that heavy objects could be moved easier if something round, for example a fallen tree log, was placed under it and the object rolled over it† (Bellis, â€Å"The Invention of the Wheel†). First boats then were usually built of wood while animal skins, clay pots, and reeds had served as an alternative. The Wheelbarrow (181 234 AD) The wheelbarrow is believed to have originated from China and was invented by a general named Chuko Liang to transport supplies to injured soldiers. It is believed that â€Å"wheelbarrows do not exist in Europe before the 11th or 12th century (the earliest known Western depiction is in a window at Chartres Cathedral, dated around 1220 AD). Descriptions of the wheelbarrow in China refer to first century BC, and the oldest surviving picture, a frieze relief from a tomb-shrine in Szechuan province, dates from about 118 AD† (â€Å"Wheelbarrow†). The Early Triumphs to Fly (400 BC-1850s) Kite flying started by the Chinese had been the pioneer of man on how he could fly. Different thoughts as to how man could meet this objective had undergone. These included the experiment to imitate a bird by attaching feathers or light weight wood to arms which had been proven disastrous since human arms’ muscles are not like of birds and cannot move with a strength like of a bird. Other experiments though were not originally intended so as man could fly included the work of Hero of Alexandria on Aeolipile. â€Å"Hero mounted a sphere on top of a water kettle. A fire below the kettle turned the water into steam, and the gas traveled through pipes to the sphere. Two L-shaped tubes on opposite sides of the sphere allowed the gas to escape, which gave a thrust to the sphere that caused it to rotate. Aeolipile must be included in the history of vehicles because it gave the principle for engine created movement† (Bellis, â€Å"Early history of Flight†). In the 1480s, with over 100 drawings that illustrated theories on bird and mechanical flight, Leonardo da Vinci had also entered this search to man’s mean to fly (Bellis, Early history of Flight). Leonardo’s Ornithopter concept had been the basis to the invention of the modern day helicopter. In 1783, Jacques Etienne and Joseph Michel Montgolfier invented the first hot air balloon (â€Å"How Did We Learn to Fly Like the Birds? †). Using the smoke from a fire to blow hot air into a silk bag that was attached to a basket, they had been able to fly aboard the hot air balloons’ first passengers, a sheep, a rooster, and a duck. On November 21, 1783, the first ever successful manned flight took place sending Francois Laurent and Jean-Francois Pilatre de Rozier up in the air (Bellis, Early history of Flight). Further studies then went on. In the 1850’s, George Cayley, the considered founder of Aerodynamics, had made his contribution through his gliders wherein a young boy had been the first to fly. The Submarine (1578 – 1620) Designs for underwater boats or submarines date back to the 1500s and ideas for underwater travel date back even further but only in the year 1578 did appear a record of a craft for underwater navigation. â€Å"William Bourne, a former Royal Navy gunner, designed a completely enclosed boat that could be submerged and rowed beneath the surface (Bellis, â€Å"History of the Submarine 2†). Bourne’s idea had never been implemented but a similar apparatus was launched in 1605 (Bellis, History of the Submarine 2). The apparatus didn’t get farther as its designers did not considered the tenacity of underwater mud which caused the craft to stick in the river bottom in its first underwater trial. But in the year 1620, Cornelius Van Drebbel had invented the first â€Å"practical† submarine which was a rowboat covered with greased leather (Bellis, History of the Submarine 2). His submarine had successfully maneuvered at depths of 12 to 15 ft. below the surface of Thames River. He had then further made revisions of his first submarine and legends says that after repeated tests, King James I of England rode to one of his later models (â€Å"The Saga of the Submarine†). Despite success, Drebbel’s invention did not quickly amaze the British Navy that made submarine warfare infeasible during that time. Steam Powered Automobiles (1600 1700) Steam power had been known for the past centuries but it was only in the 1600’s where it had been in practical use. â€Å"Ferdinand Verbiest created a model steam carriage in 1678, that moved by using a principle that is used in the modern day turbine. In the 17th century the Dutch physicist, Christiaan Huygens built an engine that uses air pressure. About 1750, the French inventor Jacques de Vaucanson gave a demonstration of a carriage propelled by a large clockwork engine. The steam engine had then developed the motorized land transport by the 1760s† (Brainard). The first built automobile is attributed to Nicolas Joseph Cugnot in the year 1769. He made his three wheeled steam driven tractor intending to help the French army to move its heavy artillery pieces in and around Paris (Brainard). His being the first had made also his automobile to be also the first to be involved in an automobile accident in 1771. Steamboat (1783 1787) After a century of steam power exploration used in automobiles, development of steam powered boats then took place. In 1783, the first practical steamboat was demonstrated by Marquis Claude Francois de Jouffroy d’Abbans – a paddle wheel steamboat. â€Å"The era of the steamboat then began in America in 1787 when John Fitch (1743-1798) made the first successful trial of a forty-five-foot steamboat on the Delaware River on August 22, 1787, in the presence of members of the Constitutional Convention. Fitch later built a larger vessel that carried passengers and freight between Philadelphia and Burlington, New Jersey. † (Bellis, â€Å"History of Steamboats†). Modern Bicycles (1790) The next notable improvement in the history of vehicles is the invention of modern day bicycles which is disputed on whether the invention of Pierre and Ernest Michaux were the first ever built or not. â€Å"Some history books states that Pierre and Ernest Michaux, the French father and son team of carriage-makers, invented the first bicycle during the 1860s. Historians now disagree and there is supporting evidence that the bicycle is already known before. However, historians all agree that Pierre and Ernest Michaux invent the modern bicycle pedal and cranks in 1861. † (Bellis, â€Å"Bicycle History†, â€Å"Bicycle History in Debate†). Steam Powered Locomotives (1801) Locomotives were designed first by Richard Trevithick but not originally for railroad tracks but for roads while George Stephenson is regarded as the inventor of the first steam locomotive engine for railroads. â€Å"Richard Trevithicks invention is considered the first tramway locomotive, however, it was designed for a road, not for a railroad. † (Bellis, â€Å"Richard Trevithick†). The Motorcycles (1867) The mechanical version of the bicycles had been born with the invention of motorcycles in 1867. â€Å"American, Sylvester Howard Roper (1823-1896) invented a two-cylinder, steam-engine motorcycle (powered by coal) in 1867. This can be considered the first motorcycle, if you allow your description of a motorcycle to include a steam engine. † (Bellis, â€Å"Motorcycle†).

Wednesday, August 21, 2019

Luke, I Am Your Volkswagen Essay Example for Free

Luke, I Am Your Volkswagen Essay Who doesn’t want to be Darth Vader? In May of 1977, I was just like every other seven year old in America wanting to be just like Darth Vader and use the force to control all my toys. During the 2011 Super Bowl, Volkswagen made a commercial that made my dream of 35 years come true. In this commercial, a young boy pretending to be Darth Vader, storms down the hall, attempting to use â€Å"the force† to move a treadmill without avail. After many fruitless attempts at controlling everything inside the house, his last attempt is a success due in part to his dad’s new Volkswagen Passat, which has a remote start on his key. The young boy runs past his father, to the front of the car to use the force. He aims his hand toward the car and to the child’s astonishment the force, has finally worked. The rhetorical techniques of logos, ethos and pathos are present and are there to persuade the intended audience. First of all, the advertisement relies on an appeal to reason for its basis. This commercial was created to target an audience that can recognize Darth Vader and Volkswagens. Star Wars references are deeply embedded in our popular culture and it would be safe to say most Americans are aware of phrases that have become part of the popular lexicon, for example â€Å"May the Force be with You†. This commercial appeal to most people because of the fact that every parent enjoys seeing their child uses their imagination and creativity. It also shows his father in the end playing along, amazing his son. Through the commercial Volkswagen recalls a childlike innocence about the car making it suitable for a family. Secondly, Volkswagen brings in an appeal to credibility to convince the advertisement’s viewers. Darth Vader is known throughout the world as one of the most recognized villains including his infamous death-march music. This commercial would not be same if an adult was used instead of a child to play the part of Darth Vader. Volkswagen uses the popularity of the super bowl commercials to convey the fact that they made the same car with the quality of Volkswagen in an all new design for the 2011 model year. By using both parent in the commercial, Volkswagen established that the Passat is a family car and convinces the audiences to purchase the new car. Volkswagen’s final appeal is to emotions to make the consumer want to believe that purchasing a new Passat can give you the power of the force. In addition to the imagery of Darth Vader, the music of Star Wars is easily recognized around the world. The death-march music gives the audience something to remember the commercial by over any other commercial shown on that day. In addition, in the final scene when the father turns the car on and the child thinks he has used the force, this ties the entire scene together and leaves a lasting impression of the commercial with the audience. The main point of this commercial is to sell the new Volkswagen Passat. The use of a child pretending to be Darth Vader evokes an emotional appeal to innocence. As does the use of the all American family household, a stay at home mother and a father who after a long day still has time to play with his son. Also in the commercial, the minimal use of dialog and the use of music convey a simple yet memorable message to its audience. In conclusion, Volkswagen was able to successfully use rhetoric to make a funny and witty ad that appealed to a mass audience and sends a clear message to purchase a new car and you too can use the force.

Effects of Basel II Accord on Qatar’s Banking Sector

Effects of Basel II Accord on Qatar’s Banking Sector Chapter 1: Introduction International banking is increasingly vital for every country in order to create an image for itself in the international finance market. Alongside, the increase in globalisation and the upsurge in outsourcing by multinational companies in the west have created a lot of opportunities for growth in the Middle East and Far Eastern countries. This apparently requires a strong internationally stable financial organization to conduct transactions across the globe without any errors (i.e.) 100% accuracy.   This includes reliability and stability of the bank under extreme situations (like emergency for example), which is highly important to conduct international transactions. Also the potential to meet financial demands during crisis situations is a vital criterion that is considered while presenting themselves in the international market. In addition to the globalisation, outsourcing and export/import growth, there is also a tremendous growth in cross-border finance among the countries in the Middle East and Far East. Along with all these factors the developing nations in the Middle East face a mandatory requirement of a sable international banking system in order to attract foreign investment. The increase in cross border finance activity among the middle eastern countries is also a critical element to be considered for establishing a stable international bank within the nation in order to represent the country in the international finance market. The countries in the Middle East are actively participating in cross-border finance since the dawn of the 21st century. Being a producer of Oil which is a vital ingredient at all levels of life right from day-to-day driving up to power generation for the nation in order to run industries and serve domestic purposes, makes it critical for the nations in the Middle East to have a strong international banking system to conduct transactions across the globe accurately and effectively. Qatar is a growing nation in the Middle East with primary operations in oil and gas export as well increasing its potential in areas of development in technology focusing on IT and communication. The nation has efficient international operations and con ducts financial transactions between western nations as well as with eastern nations. Since the take over of the government by H.H. Sheikh Hamad Bin Khalifa in 1995, the country is making tremendous progress in deploying its hydrocarbon resources in order to penetrate in the international market and present itself as a financially stable nation in the international market. Further to the increase in the international operations by the countries in the Middle East and the Far East, the Bank for International Settlements developed a framework to co-ordinate the international financial operations as well as create a portfolio for the capital measurement and capital standards which every nation involving in international banking operations is expected to adopt in order to stabilise and put in order the international transactions between countries. The Basel II accord produced by Basel Committee on Banking Supervision aims at achieving International Convergence of Capital Measurement and Capital Standards. The arrangement aims to set a minimum standard to be met by its participating nations in order to achieve capital adequacy by the participating nations in the international market. This report aims at analysing the effects of Basel II accord on Qatar’s banking sector. The objectives of this report are stated below: To analyse the Basel II accord and it’s framework for measuring capital adequacy in the nations participating in the international banking transaction. To investigate the banking sector of Qatar and the effect of Basel II accord on its international operations and capital adequacy. To analyse the effect of Basel II accord on the nation’s two major banks having international operations in Qatar namely, Qatar Industrial Development Bank (QIDB) and Commercial Bank of Qatar (CBQ) and to analyse the impact of Basel II Accord on the Banking Sector of Qatar. Report Outline: The report comprises of the following chapters. Chapter 1: Introduction This chapter introduces the reader to the objectives of the report and presents a broad picture of the report to the reader. Chapter 2: Overview of Basel II Accord This chapter presents with an overview of the Basel II accord. The three pillars of Basel II accord namely Minimum Capital Requirements, Supervisory Review Process and Market Discipline are analysed in detail to provide the reader with a detailed understanding of the consent of Basel Committee on Banking Supervision. Chapter 3: Implications and Critical Analysis of Basel II Accord The literature review on the Basel II Accord in chapter 2 is followed by the critical analysis and its implications on nations (business and political) are presented to the reader before proceeding to present the overview of the Qatar Banking sector.    Chapter 4: Overview of Qatar and its Banking Sector This chapter presents the reader with an overview of Qatar as a nation and its business operations in the International market. Alongside, the chapter analyses the country’s growth in the banking sector and its internationally active banks. Chapter 5: Case Study This chapter conducts a case study analysis on Qatar’s two internationally active banks namely Qatar Industrial Development Bank (QIDB) and Commercial Bank of Qatar (CBQ). The effect of Basel II accord on the banks along with an overview of the bank is presented to the reader. The data used to present the case study is primarily obtained from secondary sources like journals, reports and white papers. This is apparently due the fact that the analysis is conducted on a foreign nation as well as the data available from the secondary sources are also reliable as they are published by legitimate organizations and popular journals.   Chapter 6: Results and Discussions The results of the case study analysis and discussions are carried out in this chapter. This chapter aims to present a clearer picture to the reader on the effects of the Basel II accord on the banks analysed. Chapter 7:   Conclusion and Recommendations The conclusions derived from the case results and discussions on the case study and the overall conclusion on the effect of Basel I accord on the Qatar Banking Sector is presented in this chapter. Alongside, this chapter presents a few constructive recommendations based on the results and discussion on the case study. Chapter 2: Overview of Basel II Accord This chapter begins with an overview of the Bank for International Settlements followed by a detailed analysis of the Basel II accord. The Basel II committee is also analysed alongside in order to provide a deeper insight to the readers. 2.1 Bank for International Settlements Overview and it’s Operations The Bank for International Settlements (Bank for International Settlements) is an international organization looking after international monetary and financial co-operation across the globe. This organization acts as the bank for all the central banks of countries participating in the international finance and banking. The Bank for International Settlements profile states that the bank achieves the aforementioned statement through acting as A forum to promote discussion and facilitate decision-making processes among central banks and within the international financial and supervisory community. A centre for economic and monetary research A prime counter party for central banks in their financial transactions and Agent or trustee in connection with international financial operations. Established in 17th Many 1930, it is the oldest financial organization at the international level. The Bank for International Settlements has three major decision making bodies within the bank to achieve its mission. They are The general meeting of member central banks This meeting is held before the end of four months of the end of the banks annual financial year. The meeting addresses all the issues related to business and the member central banks gather to approve the annual financial statement released by the bank. The Board of Directors The board of directors comprise the central bank governors elected from various participating countries. They monitor the overall operation of the bank and take responsibility for actions to be taken and address issues related to disputes and other major international financial cross border problems. The Management Committee The management committee is the first line representative of the Bank for International Settlements and addresses the day-to-day activities of the bank. This committee primarily manages the monetary and financial co-operation services. The services include Meetings: Apart from the Annual general meeting the Bank for International Settlements organizes meetings on a bimonthly basis. This meeting brings the member central banks together with the aim of monitoring the global economic and financial development and discusses issues on its policies in relation to the monetary and financial stability. Committees and Secretariats Bank for International Settlements has several committees to monitor specific problems and issues in the international finance and cross border loans. Alongside, several other committees and organizations focusing on international financial systems have their secretariats in the Bank for International Settlements and work closely with the bank in order to enhance the overall international banking and cross border finance. Basel committee of the Bank for International Settlements is the committee that laid the specifications for capital measurement and capital standard of the central banks participating in the international banking. Research and Statistics: In order to support its meetings and the activities of the organization’s Basel based committees the Bank for International Settlements carries out regular research on economic, monetary, financial and legal areas of the international banking and cross border finance. Investment services for central banks: Bank for International Settlements also provides security, liquidity and return for its central bank members. The three primary points with respect to this identified by the organization are To provide security, the Bank has built up a sizeable equity capital and ample reserves. It pursues an investment strategy focused on combining diversification benefits with intensive credit and market risk analysis. To ensure liquidity, the Bank stands ready to repurchase its tradable instruments at little cost to its customers and thus respond quickly and flexibly to their needs. The BIS offers an attractive and competitive return on the funds deposited by central banks and international organisations The Bank for International Settlements focuses on serving the financial needs of central banks of the member countries. Alongside, it also acts as a banker managing the funds for numerous international financial institutions. 2.2: Basel committee Overview The Basel committee was established the member central banks of the Bank for International Settlements in order to create a standard for the international banking and capital framework for crass border finance and lending. The committee was initially set up in 1970 and meets regularly four times a year to discuss the progress in international banking and address issues related to business in this context. The member nations of the committee include Belgium, Canada, France, Germany, Italy, Japan, Luxembourg, the Netherlands, Spain, Sweden, Switzerland, United Kingdom and United States. The country’s central bank and financial institutions that are not active in banking commercially but monitor the financial operations of the nation both at national and international levels represent the nations. The committee does no possess any authority over its member nations banking systems and the decisions of the committee are never intended to have a legal force on its member nations. The Central bank governors of the Group ten countries endorse the committee’s major initiatives. Also the committee reports to the group ten countries central bank governors. The committee first proposed he capital measurement system in 1988 commonly referred to as ‘Basel Capital Accord’. The committee aims in supervising the international banking operations of the nations across the globe. The decisions of the committee endorsed by the group ten countries address various financial issues in the international market outside the groups as well. The major aim of the committee is the ‘close the gaps in international supervisory coverage’ and to ensure that no foreign banking systems escapes the supervision in order to establish a harmony among the member nations of the Bank for International Settlements as well as in the international market. The committee has promoted supervisory standards in the past few years. Some of its major milestones include the following 1997: Cover Principles for effective banking supervision 1999: Core Principles methodology The committee also presented the Basel II accord with revision on international capital framework. This aims to standardise the capital framework of every bank participating in the international banking as well as sets slabs for minimum capital holdings to be met by the banks in order to qualify for international operations. The committee has numerous subgroups to perform specific tasks of the committee in order to achieve the overall motto of the committee. They are listed below Accord Implementation Group Accounting Task Force Capital Group Capital Task Force Core Principles Liaison Group (with 16 non-G10 countries) Cross-Border Banking Group Electronic Banking Group Joint Forum (with IAIS and IOSCO) Joint IOSCO BCBS Working Group on Trading Book Research Task Force Risk Management Group Securitisation Group Transparency Group The next section provides a detailed analysis of the Basel II accord and its various implications on international banking is discussed in chapter 3. 2.3 The Basel II Accord The Basel II accord was released in June 2004 further to the release of the Basel Accord in 2003. The Basel II is a revised edition of the initial Basel capital accord. It is a framework designed to derive the capital holdings of internationally active banks to meet the international standards and sets a minimum level of capital holding which is a primary criteria for the banks. The Basel II framework is aimed to be applied on a consolidated basis over internationally active banks in order to preserve the integrity of capital in the banks with subsidiaries. Also the framework eliminates the double gearing through this approach. The Basel II accord’s framework is also applied on a fully consolidated basis on any parent holding company which acts as a parent entity within a banking group in order to capture the risk on a consolidated basis without missing any element that contributes considerably to the risk of the overall banking system. Alongside, the framework is also applicable to all internationally active banks at every tier of the banking group. Apart from the aforementioned statements one of the principal objectives of the Basel II Accord is to protect the interest of the depositors essentially to ensure that capital recognised capital adequacy measures is readily available for the depositors. Apparently, these measures are aimed to establish a common platform for international banking and cross border finance across the globe. The scope of application extends to the following segments of the international banking and finance entities. Banking, securities and other financial subsidiaries Significant minority investments in banking securities Insurance entities Significant investment in commercial entities. Deduction of investment pursuant to this part The aforementioned entities are obtained from the Basel Committee report on International Convergence of Capital Measurement and Capital Standards, published in June 2004. The Basel II accord overview is based on this report. The illustration in the fig 1 gives a clear picture of the overall scope of application of the Basel II accord. The Basel II accord is split into three pillars. The first Pillar: Minimum Capital Requirements This is the very important pillar of the Basel II Accord. This pillar has very clear definitions of the Accord’s application on the credit risks and operational risk along with the Trading Book issues that are vital for international banking establishment. The layout in fig 2 reproduced from the Basel II report provides the inner picture of the First Pillar. The following subsections provide a detailed analysis on the elements shown in fig 2. 2.4: The First Pillar The First pillar lays down the minimum capital requirements that every internationally active bank should incorporate.   It is split into the following subsection. 2.4.1:   Calculation of Minimum capital requirements The minimum capital requirement is calculated as a measure of the capital ration. The capital ratio in turn is calculated using the regulatory capital and risk-weighted assets. The requirement of this criterion is that the capital ration must be a minimum of 8% or more in order to be eligible for the international activities. Also, in case of a two tier system the capital in tier 2 must not be greater than the tier 1 capital (i.e.) the tier 2 capital can be a maximum of 100% of the tier 1 capital. The capital is accounted from the following sources    Regulatory capital: The minimum accounting capital requirements for the financial institution encompasses the regulatory capital. The Basel II accord has withdrawn the provision to include general provisions in tire 2 capital, which was in effect in the 1988 Accord under the Internal Ratings-Based (IRB) approach.   Furthermore the accord has lain down that the banks using the Internal Ratings Based approach to their other assets mu st compare the amount of total eligible provision with the total expected losses amount to the bank. This eventually increases the capital holding of the bank in order to meet the criteria. Risk Weighted Assets: The Basel II Accord calculates the total risk-weighted assets by multiplying the capital requirement for market risk and operational risk by the reciprocal of the minimum capital ratio of 8% and adding the resulting value to the sum of risk weighted assets for credit risk. Even though this is subject to review the approach lays enormous burden on the bank to increase its minimum capital holdings. Apparently the Basel II Accord is aiming to establish that the internationally active banks must have enough capital to meet its short comings without depending on loans and cross border finance to address its immediate requirements and short comings. The idea though being novel is very intense for the banks to maintain the required minimum capital. Transitional Arrangements: The Accord has also stated that the banks following the Internal Ratings-Based approach or the Advanced Measurements Approach (AMA) that there will be a capital floor after the implementation of the Basel II framework. The adjustment factors used in both the internal ratings-based approach and the advanced measurements approach for calculating the capital floor as per the definition of the Basel II framework is shown in fig 3 below. 2.4.2: Credit Risk-The Standardised Approach Under this method the Basel committee provides the internationally active banks a choice for calculating their capital requirements for credit risk. The first approach is the standardised method of measuring the credit risk through support from external credit assessments. This method is approved by the Basel committee while the other method is yet to explicitly approved by the committee. Under the alternate method of calculating the credit risk, the bank supervisor can allow banks to use their internal rating systems for calculating the credit risk. Under both the methodologies one should not oversee the fact that the Basel committee is very keen in assessing the credit risk on the capital holdings of the internationally active banks. Even though this is appreciated, the rules are very stringent making it very difficult for the banks for adopt easily. 2.4.3 Credit Risk- Internal Ratings Based Approach The Basel II committee has given supervisory approval for banks to use the Internal Ratings-Based approach to determine their capital requirement for a given exposure subject to certain minimum conditions and disclosure requirements. The risk components considered include Measures of the probability of default (PD), Loss given default (LGD), The exposure at default (EAD), Effective maturity (M) The Basel II accord states that â€Å"The Internal Ratings Based Approach is based on the measure of unexpected loses (UL) and Expected Loses (EL). Under the Internal Ratings Based Approach, the committee expects the bank to categories their exposures in order to identify the different underlying risk characteristics. The categories include corporate, sovereign, bank, retail and equity. These are identified as the corporate asset classes and the approach further expects the bank to identify the subclasses associated with the asset classes in order to measure the credit risk associated with the exposure. The detailed analysis of every corporate class and its associated subclasses is beyond the scope of this report. In essence the Internal Ratings Based Approach gives the bank more liberty to calculate its credit-risk on the minimum capital requirement for a given exposure. But the producers laid by the Basel II Accord is very tedious to adopt and implement for every corporate class exposure and identifying the subclasses associated. 2.4.4: Credit Risk- Securitisation Framework The Basel Committee in its revised accord, has made it mandatory for the banks to apply the Securitisation Framework for determining regulatory capital requirements on exposure arising from traditional and synthetic Securitisation or similar structures that contain features common to both.   The Basel II accord also states that the capital treatment of the Securitisation exposure must be determined on the basis of the economic substance rather than the legal form of the structure. It is apparent that the securities can be structured in many different ways and the committee has approved the use of either the traditional Securitisation or the synthetic Securitisation framework. Also the Basel II accord expects the supervisor to look at the economic substance of transaction in order to determine whether it should be subject to Securitisation framework or not. This gives the discretionary power to the supervisor to decide on a specific transaction whether to include it in the framework or to eliminate it from the framework towards determining the regulatory capital framework. The traditional Securitisation and the synthetic Securitisation framework are discussed below. Traditional Securitisation: The Basel II Accord defines the traditional framework as â€Å"a structure where the cash flow from an underlying pool of exposures is used to service at least two different stratified risk positions or tranches reflecting different degrees of credit risk†. The advantage with this approach is that the payment to the investors is based on the performance of the specified underlying exposures rather than a derivation from an obligation of the entity originating those exposures. Synthetic Securitisation â€Å"A synthetic Securitisation is a structure with at least two different stratified risk positions or tranches that reflect different degrees of credit risk where credit risk of an underlying pool of exposures is transferred, in whole or in part, through the use of funded (e.g. credit-linked notes) or un-funded (e.g. credit default swaps) credit derivatives or guarantees that serve to hedge the credit risk of the portfolio†. This approach leaves the return to the investors in the hands of the performance of the underlying pool. Apparently, the risk associated is higher since the performance can be affected by numerous causes. From the above-mentioned approaches the Basel II accord’s stand for evaluating the capital and minimum capital requirements are evident. 2.4.5: Operational Risk The operational risk is defined by the Basel Committee as the risk associated with the loss resulting from inadequate or failed internal processes, people, systems or external events. This includes the legal risk with the exclusion of strategic and reputational risk. The Basel II Accord has approved three methods for calculating the operational risk and risk sensitivity with the implications on minimum capital requirements. They are: (i) The Basic indicator approach, (ii) the Standardised Approach and (iii) Advanced Measurement Approach. Basic Indicator Approach: In this case the banks should hold capital for the operational risk equal to the average over the past three years of a fixed percentage. This is expressed as a formula below KBIA = [ÃŽ £ (GI1†¦n x ÃŽ ±)]/n Where KBIA = the capital charge under the Basic Indicator Approach GI = annual gross income, where positive, over the previous three years n = number of the previous three years for which gross income is positive ÃŽ ± = 15%, which is set by the Committee, relating the industry wide level of required capital to the industry wide level of the indicator. This formula is obtained from the Basel II accord for the purpose of reader understanding. Standardised Approach: The standardised approach divides the bank’s activities into eight-business lines namely corporate finance, trading sales, retail banking, commercial banking, payment settlement, agency services, asset management, and retail brokerage. The likelihood of operational risk exposure is calculated from the gross income associated with each business line that serves as an indicator for the scale of business operations by the bank in that specific area of business or business line. This approach is very clumsy since the gross income associated with the business line varies due to numerous reasons both internal and external. Advanced Measurement Approach: The Advanced Measurement Approach equates the regulatory capital requirement with the risk measure generated by the bank’s internal operational risk measurement system using quantitative and qualitative criteria. The banks can use this method only after the approval by the Committee. The Basel II Accord sets the approach for the banks based on their international activity and significant operational risk exposures. Also, when a bank agrees to use a more sophisticated method, it cannot revert back to the easier method without approval from the supervisor. This eventually increases the burden on the banks to choose a sophisticated method. 2.4.6: Trading Book Issues The final segment of the first pillar is the trading book. Basel Committee defines the trading book as a container of both the financial instruments and commodities held either with trading intent or in order to hedge other elements of the trading book. The trading book forms a vital element for the bank since it is the record of the bank’s financial instruments as well as commodities. The Basel II Accord identifies four key principles for the supervisory process. They are listed below. The basic requirements for the eligibility to trading book capital treatment put forth by the Basel II Accord are as follows Clearly documented trading strategy for the position/instrument or portfolios, approved by senior management (which would include expected holding horizon). Clearly defined policies and procedures for the active management of the position Clearly defined policy and procedures to monitor the positions against the bank’s trading strategy including the monitoring of turnover and stale positions in the bank’s trading book 2.3: The Second Pillar- Supervisory Review Process Basel committee was initially set up for the supervising the internationally active banks and produce a common platform for the smooth transactions and cross border finance. The Basel II Accord has established Supervisory Process as one of the three pillars in order to emphasise its stand on supervisory process. The importance of supervisory process is described below. 2.3.1: Importance of Supervisory Process The supervisory review process of the Basel II Accord aims not only to ensure that banks have adequate capital to support all the risks in their business but also intends to encourage the banks to develop and use better risk management techniques in monitoring and managing risks. Alongside, the supervisory process by developing internal capital assessment process and setting capital targets that are commensurate with the bank’s risk profile recognises the importance for bank management in order to improve the atmosphere in the international banking and cross border finance. The Supervisory process evaluates the relationship between the amount of capital held by the bank against the risk, strength and effectiveness of the bank’s risk management eventually guiding the bank and supervising its activities in order to improve the performance of the banks in the international business market and cross border finance. 2.3.2 Four Key Principles of the supervisory review The four key principles identified by the Basel II Accord on the supervisory process is listed below. These principles emphasise on the committee’s focus on supervision and its aim to maintain harmony in the international banking and cross border finance. Principle 1: Banks should have a process for assessing their overall capital adequacy in relation to their risk profile and a strategy for maintaining their capital levels. Principle 2: Supervisors should review and evaluate banks’ internal capital adequacy assessments and strategies, as well as their ability to monitor and ensure their compliance with regulatory capital ratios. Supervisors should take appropriate supervisory action if they are not satisfied with the result of this process. Principle 3: Supervisors should expect banks to operate above the minimum regulatory capital ratios and should have the ability to require banks to hold capital in excess of the minimum. Principle 4: Supervisors should seek to intervene at an early stage to prevent capital from falling below the minimum levels required to support the risk characteristics of a particular bank and should require rapid remedial action if capital is not maintained or restored. 2.3.3: Issues to be addressed There are two specific issues to be addressed by the Supervisory-Review Process. They are Interest Rate Risk in the Banking book: Since it is clear that the Basel Committee’s primary focus is on identifying and preventing risk in the international b Effects of Basel II Accord on Qatar’s Banking Sector Effects of Basel II Accord on Qatar’s Banking Sector Chapter 1: Introduction International banking is increasingly vital for every country in order to create an image for itself in the international finance market. Alongside, the increase in globalisation and the upsurge in outsourcing by multinational companies in the west have created a lot of opportunities for growth in the Middle East and Far Eastern countries. This apparently requires a strong internationally stable financial organization to conduct transactions across the globe without any errors (i.e.) 100% accuracy.   This includes reliability and stability of the bank under extreme situations (like emergency for example), which is highly important to conduct international transactions. Also the potential to meet financial demands during crisis situations is a vital criterion that is considered while presenting themselves in the international market. In addition to the globalisation, outsourcing and export/import growth, there is also a tremendous growth in cross-border finance among the countries in the Middle East and Far East. Along with all these factors the developing nations in the Middle East face a mandatory requirement of a sable international banking system in order to attract foreign investment. The increase in cross border finance activity among the middle eastern countries is also a critical element to be considered for establishing a stable international bank within the nation in order to represent the country in the international finance market. The countries in the Middle East are actively participating in cross-border finance since the dawn of the 21st century. Being a producer of Oil which is a vital ingredient at all levels of life right from day-to-day driving up to power generation for the nation in order to run industries and serve domestic purposes, makes it critical for the nations in the Middle East to have a strong international banking system to conduct transactions across the globe accurately and effectively. Qatar is a growing nation in the Middle East with primary operations in oil and gas export as well increasing its potential in areas of development in technology focusing on IT and communication. The nation has efficient international operations and con ducts financial transactions between western nations as well as with eastern nations. Since the take over of the government by H.H. Sheikh Hamad Bin Khalifa in 1995, the country is making tremendous progress in deploying its hydrocarbon resources in order to penetrate in the international market and present itself as a financially stable nation in the international market. Further to the increase in the international operations by the countries in the Middle East and the Far East, the Bank for International Settlements developed a framework to co-ordinate the international financial operations as well as create a portfolio for the capital measurement and capital standards which every nation involving in international banking operations is expected to adopt in order to stabilise and put in order the international transactions between countries. The Basel II accord produced by Basel Committee on Banking Supervision aims at achieving International Convergence of Capital Measurement and Capital Standards. The arrangement aims to set a minimum standard to be met by its participating nations in order to achieve capital adequacy by the participating nations in the international market. This report aims at analysing the effects of Basel II accord on Qatar’s banking sector. The objectives of this report are stated below: To analyse the Basel II accord and it’s framework for measuring capital adequacy in the nations participating in the international banking transaction. To investigate the banking sector of Qatar and the effect of Basel II accord on its international operations and capital adequacy. To analyse the effect of Basel II accord on the nation’s two major banks having international operations in Qatar namely, Qatar Industrial Development Bank (QIDB) and Commercial Bank of Qatar (CBQ) and to analyse the impact of Basel II Accord on the Banking Sector of Qatar. Report Outline: The report comprises of the following chapters. Chapter 1: Introduction This chapter introduces the reader to the objectives of the report and presents a broad picture of the report to the reader. Chapter 2: Overview of Basel II Accord This chapter presents with an overview of the Basel II accord. The three pillars of Basel II accord namely Minimum Capital Requirements, Supervisory Review Process and Market Discipline are analysed in detail to provide the reader with a detailed understanding of the consent of Basel Committee on Banking Supervision. Chapter 3: Implications and Critical Analysis of Basel II Accord The literature review on the Basel II Accord in chapter 2 is followed by the critical analysis and its implications on nations (business and political) are presented to the reader before proceeding to present the overview of the Qatar Banking sector.    Chapter 4: Overview of Qatar and its Banking Sector This chapter presents the reader with an overview of Qatar as a nation and its business operations in the International market. Alongside, the chapter analyses the country’s growth in the banking sector and its internationally active banks. Chapter 5: Case Study This chapter conducts a case study analysis on Qatar’s two internationally active banks namely Qatar Industrial Development Bank (QIDB) and Commercial Bank of Qatar (CBQ). The effect of Basel II accord on the banks along with an overview of the bank is presented to the reader. The data used to present the case study is primarily obtained from secondary sources like journals, reports and white papers. This is apparently due the fact that the analysis is conducted on a foreign nation as well as the data available from the secondary sources are also reliable as they are published by legitimate organizations and popular journals.   Chapter 6: Results and Discussions The results of the case study analysis and discussions are carried out in this chapter. This chapter aims to present a clearer picture to the reader on the effects of the Basel II accord on the banks analysed. Chapter 7:   Conclusion and Recommendations The conclusions derived from the case results and discussions on the case study and the overall conclusion on the effect of Basel I accord on the Qatar Banking Sector is presented in this chapter. Alongside, this chapter presents a few constructive recommendations based on the results and discussion on the case study. Chapter 2: Overview of Basel II Accord This chapter begins with an overview of the Bank for International Settlements followed by a detailed analysis of the Basel II accord. The Basel II committee is also analysed alongside in order to provide a deeper insight to the readers. 2.1 Bank for International Settlements Overview and it’s Operations The Bank for International Settlements (Bank for International Settlements) is an international organization looking after international monetary and financial co-operation across the globe. This organization acts as the bank for all the central banks of countries participating in the international finance and banking. The Bank for International Settlements profile states that the bank achieves the aforementioned statement through acting as A forum to promote discussion and facilitate decision-making processes among central banks and within the international financial and supervisory community. A centre for economic and monetary research A prime counter party for central banks in their financial transactions and Agent or trustee in connection with international financial operations. Established in 17th Many 1930, it is the oldest financial organization at the international level. The Bank for International Settlements has three major decision making bodies within the bank to achieve its mission. They are The general meeting of member central banks This meeting is held before the end of four months of the end of the banks annual financial year. The meeting addresses all the issues related to business and the member central banks gather to approve the annual financial statement released by the bank. The Board of Directors The board of directors comprise the central bank governors elected from various participating countries. They monitor the overall operation of the bank and take responsibility for actions to be taken and address issues related to disputes and other major international financial cross border problems. The Management Committee The management committee is the first line representative of the Bank for International Settlements and addresses the day-to-day activities of the bank. This committee primarily manages the monetary and financial co-operation services. The services include Meetings: Apart from the Annual general meeting the Bank for International Settlements organizes meetings on a bimonthly basis. This meeting brings the member central banks together with the aim of monitoring the global economic and financial development and discusses issues on its policies in relation to the monetary and financial stability. Committees and Secretariats Bank for International Settlements has several committees to monitor specific problems and issues in the international finance and cross border loans. Alongside, several other committees and organizations focusing on international financial systems have their secretariats in the Bank for International Settlements and work closely with the bank in order to enhance the overall international banking and cross border finance. Basel committee of the Bank for International Settlements is the committee that laid the specifications for capital measurement and capital standard of the central banks participating in the international banking. Research and Statistics: In order to support its meetings and the activities of the organization’s Basel based committees the Bank for International Settlements carries out regular research on economic, monetary, financial and legal areas of the international banking and cross border finance. Investment services for central banks: Bank for International Settlements also provides security, liquidity and return for its central bank members. The three primary points with respect to this identified by the organization are To provide security, the Bank has built up a sizeable equity capital and ample reserves. It pursues an investment strategy focused on combining diversification benefits with intensive credit and market risk analysis. To ensure liquidity, the Bank stands ready to repurchase its tradable instruments at little cost to its customers and thus respond quickly and flexibly to their needs. The BIS offers an attractive and competitive return on the funds deposited by central banks and international organisations The Bank for International Settlements focuses on serving the financial needs of central banks of the member countries. Alongside, it also acts as a banker managing the funds for numerous international financial institutions. 2.2: Basel committee Overview The Basel committee was established the member central banks of the Bank for International Settlements in order to create a standard for the international banking and capital framework for crass border finance and lending. The committee was initially set up in 1970 and meets regularly four times a year to discuss the progress in international banking and address issues related to business in this context. The member nations of the committee include Belgium, Canada, France, Germany, Italy, Japan, Luxembourg, the Netherlands, Spain, Sweden, Switzerland, United Kingdom and United States. The country’s central bank and financial institutions that are not active in banking commercially but monitor the financial operations of the nation both at national and international levels represent the nations. The committee does no possess any authority over its member nations banking systems and the decisions of the committee are never intended to have a legal force on its member nations. The Central bank governors of the Group ten countries endorse the committee’s major initiatives. Also the committee reports to the group ten countries central bank governors. The committee first proposed he capital measurement system in 1988 commonly referred to as ‘Basel Capital Accord’. The committee aims in supervising the international banking operations of the nations across the globe. The decisions of the committee endorsed by the group ten countries address various financial issues in the international market outside the groups as well. The major aim of the committee is the ‘close the gaps in international supervisory coverage’ and to ensure that no foreign banking systems escapes the supervision in order to establish a harmony among the member nations of the Bank for International Settlements as well as in the international market. The committee has promoted supervisory standards in the past few years. Some of its major milestones include the following 1997: Cover Principles for effective banking supervision 1999: Core Principles methodology The committee also presented the Basel II accord with revision on international capital framework. This aims to standardise the capital framework of every bank participating in the international banking as well as sets slabs for minimum capital holdings to be met by the banks in order to qualify for international operations. The committee has numerous subgroups to perform specific tasks of the committee in order to achieve the overall motto of the committee. They are listed below Accord Implementation Group Accounting Task Force Capital Group Capital Task Force Core Principles Liaison Group (with 16 non-G10 countries) Cross-Border Banking Group Electronic Banking Group Joint Forum (with IAIS and IOSCO) Joint IOSCO BCBS Working Group on Trading Book Research Task Force Risk Management Group Securitisation Group Transparency Group The next section provides a detailed analysis of the Basel II accord and its various implications on international banking is discussed in chapter 3. 2.3 The Basel II Accord The Basel II accord was released in June 2004 further to the release of the Basel Accord in 2003. The Basel II is a revised edition of the initial Basel capital accord. It is a framework designed to derive the capital holdings of internationally active banks to meet the international standards and sets a minimum level of capital holding which is a primary criteria for the banks. The Basel II framework is aimed to be applied on a consolidated basis over internationally active banks in order to preserve the integrity of capital in the banks with subsidiaries. Also the framework eliminates the double gearing through this approach. The Basel II accord’s framework is also applied on a fully consolidated basis on any parent holding company which acts as a parent entity within a banking group in order to capture the risk on a consolidated basis without missing any element that contributes considerably to the risk of the overall banking system. Alongside, the framework is also applicable to all internationally active banks at every tier of the banking group. Apart from the aforementioned statements one of the principal objectives of the Basel II Accord is to protect the interest of the depositors essentially to ensure that capital recognised capital adequacy measures is readily available for the depositors. Apparently, these measures are aimed to establish a common platform for international banking and cross border finance across the globe. The scope of application extends to the following segments of the international banking and finance entities. Banking, securities and other financial subsidiaries Significant minority investments in banking securities Insurance entities Significant investment in commercial entities. Deduction of investment pursuant to this part The aforementioned entities are obtained from the Basel Committee report on International Convergence of Capital Measurement and Capital Standards, published in June 2004. The Basel II accord overview is based on this report. The illustration in the fig 1 gives a clear picture of the overall scope of application of the Basel II accord. The Basel II accord is split into three pillars. The first Pillar: Minimum Capital Requirements This is the very important pillar of the Basel II Accord. This pillar has very clear definitions of the Accord’s application on the credit risks and operational risk along with the Trading Book issues that are vital for international banking establishment. The layout in fig 2 reproduced from the Basel II report provides the inner picture of the First Pillar. The following subsections provide a detailed analysis on the elements shown in fig 2. 2.4: The First Pillar The First pillar lays down the minimum capital requirements that every internationally active bank should incorporate.   It is split into the following subsection. 2.4.1:   Calculation of Minimum capital requirements The minimum capital requirement is calculated as a measure of the capital ration. The capital ratio in turn is calculated using the regulatory capital and risk-weighted assets. The requirement of this criterion is that the capital ration must be a minimum of 8% or more in order to be eligible for the international activities. Also, in case of a two tier system the capital in tier 2 must not be greater than the tier 1 capital (i.e.) the tier 2 capital can be a maximum of 100% of the tier 1 capital. The capital is accounted from the following sources    Regulatory capital: The minimum accounting capital requirements for the financial institution encompasses the regulatory capital. The Basel II accord has withdrawn the provision to include general provisions in tire 2 capital, which was in effect in the 1988 Accord under the Internal Ratings-Based (IRB) approach.   Furthermore the accord has lain down that the banks using the Internal Ratings Based approach to their other assets mu st compare the amount of total eligible provision with the total expected losses amount to the bank. This eventually increases the capital holding of the bank in order to meet the criteria. Risk Weighted Assets: The Basel II Accord calculates the total risk-weighted assets by multiplying the capital requirement for market risk and operational risk by the reciprocal of the minimum capital ratio of 8% and adding the resulting value to the sum of risk weighted assets for credit risk. Even though this is subject to review the approach lays enormous burden on the bank to increase its minimum capital holdings. Apparently the Basel II Accord is aiming to establish that the internationally active banks must have enough capital to meet its short comings without depending on loans and cross border finance to address its immediate requirements and short comings. The idea though being novel is very intense for the banks to maintain the required minimum capital. Transitional Arrangements: The Accord has also stated that the banks following the Internal Ratings-Based approach or the Advanced Measurements Approach (AMA) that there will be a capital floor after the implementation of the Basel II framework. The adjustment factors used in both the internal ratings-based approach and the advanced measurements approach for calculating the capital floor as per the definition of the Basel II framework is shown in fig 3 below. 2.4.2: Credit Risk-The Standardised Approach Under this method the Basel committee provides the internationally active banks a choice for calculating their capital requirements for credit risk. The first approach is the standardised method of measuring the credit risk through support from external credit assessments. This method is approved by the Basel committee while the other method is yet to explicitly approved by the committee. Under the alternate method of calculating the credit risk, the bank supervisor can allow banks to use their internal rating systems for calculating the credit risk. Under both the methodologies one should not oversee the fact that the Basel committee is very keen in assessing the credit risk on the capital holdings of the internationally active banks. Even though this is appreciated, the rules are very stringent making it very difficult for the banks for adopt easily. 2.4.3 Credit Risk- Internal Ratings Based Approach The Basel II committee has given supervisory approval for banks to use the Internal Ratings-Based approach to determine their capital requirement for a given exposure subject to certain minimum conditions and disclosure requirements. The risk components considered include Measures of the probability of default (PD), Loss given default (LGD), The exposure at default (EAD), Effective maturity (M) The Basel II accord states that â€Å"The Internal Ratings Based Approach is based on the measure of unexpected loses (UL) and Expected Loses (EL). Under the Internal Ratings Based Approach, the committee expects the bank to categories their exposures in order to identify the different underlying risk characteristics. The categories include corporate, sovereign, bank, retail and equity. These are identified as the corporate asset classes and the approach further expects the bank to identify the subclasses associated with the asset classes in order to measure the credit risk associated with the exposure. The detailed analysis of every corporate class and its associated subclasses is beyond the scope of this report. In essence the Internal Ratings Based Approach gives the bank more liberty to calculate its credit-risk on the minimum capital requirement for a given exposure. But the producers laid by the Basel II Accord is very tedious to adopt and implement for every corporate class exposure and identifying the subclasses associated. 2.4.4: Credit Risk- Securitisation Framework The Basel Committee in its revised accord, has made it mandatory for the banks to apply the Securitisation Framework for determining regulatory capital requirements on exposure arising from traditional and synthetic Securitisation or similar structures that contain features common to both.   The Basel II accord also states that the capital treatment of the Securitisation exposure must be determined on the basis of the economic substance rather than the legal form of the structure. It is apparent that the securities can be structured in many different ways and the committee has approved the use of either the traditional Securitisation or the synthetic Securitisation framework. Also the Basel II accord expects the supervisor to look at the economic substance of transaction in order to determine whether it should be subject to Securitisation framework or not. This gives the discretionary power to the supervisor to decide on a specific transaction whether to include it in the framework or to eliminate it from the framework towards determining the regulatory capital framework. The traditional Securitisation and the synthetic Securitisation framework are discussed below. Traditional Securitisation: The Basel II Accord defines the traditional framework as â€Å"a structure where the cash flow from an underlying pool of exposures is used to service at least two different stratified risk positions or tranches reflecting different degrees of credit risk†. The advantage with this approach is that the payment to the investors is based on the performance of the specified underlying exposures rather than a derivation from an obligation of the entity originating those exposures. Synthetic Securitisation â€Å"A synthetic Securitisation is a structure with at least two different stratified risk positions or tranches that reflect different degrees of credit risk where credit risk of an underlying pool of exposures is transferred, in whole or in part, through the use of funded (e.g. credit-linked notes) or un-funded (e.g. credit default swaps) credit derivatives or guarantees that serve to hedge the credit risk of the portfolio†. This approach leaves the return to the investors in the hands of the performance of the underlying pool. Apparently, the risk associated is higher since the performance can be affected by numerous causes. From the above-mentioned approaches the Basel II accord’s stand for evaluating the capital and minimum capital requirements are evident. 2.4.5: Operational Risk The operational risk is defined by the Basel Committee as the risk associated with the loss resulting from inadequate or failed internal processes, people, systems or external events. This includes the legal risk with the exclusion of strategic and reputational risk. The Basel II Accord has approved three methods for calculating the operational risk and risk sensitivity with the implications on minimum capital requirements. They are: (i) The Basic indicator approach, (ii) the Standardised Approach and (iii) Advanced Measurement Approach. Basic Indicator Approach: In this case the banks should hold capital for the operational risk equal to the average over the past three years of a fixed percentage. This is expressed as a formula below KBIA = [ÃŽ £ (GI1†¦n x ÃŽ ±)]/n Where KBIA = the capital charge under the Basic Indicator Approach GI = annual gross income, where positive, over the previous three years n = number of the previous three years for which gross income is positive ÃŽ ± = 15%, which is set by the Committee, relating the industry wide level of required capital to the industry wide level of the indicator. This formula is obtained from the Basel II accord for the purpose of reader understanding. Standardised Approach: The standardised approach divides the bank’s activities into eight-business lines namely corporate finance, trading sales, retail banking, commercial banking, payment settlement, agency services, asset management, and retail brokerage. The likelihood of operational risk exposure is calculated from the gross income associated with each business line that serves as an indicator for the scale of business operations by the bank in that specific area of business or business line. This approach is very clumsy since the gross income associated with the business line varies due to numerous reasons both internal and external. Advanced Measurement Approach: The Advanced Measurement Approach equates the regulatory capital requirement with the risk measure generated by the bank’s internal operational risk measurement system using quantitative and qualitative criteria. The banks can use this method only after the approval by the Committee. The Basel II Accord sets the approach for the banks based on their international activity and significant operational risk exposures. Also, when a bank agrees to use a more sophisticated method, it cannot revert back to the easier method without approval from the supervisor. This eventually increases the burden on the banks to choose a sophisticated method. 2.4.6: Trading Book Issues The final segment of the first pillar is the trading book. Basel Committee defines the trading book as a container of both the financial instruments and commodities held either with trading intent or in order to hedge other elements of the trading book. The trading book forms a vital element for the bank since it is the record of the bank’s financial instruments as well as commodities. The Basel II Accord identifies four key principles for the supervisory process. They are listed below. The basic requirements for the eligibility to trading book capital treatment put forth by the Basel II Accord are as follows Clearly documented trading strategy for the position/instrument or portfolios, approved by senior management (which would include expected holding horizon). Clearly defined policies and procedures for the active management of the position Clearly defined policy and procedures to monitor the positions against the bank’s trading strategy including the monitoring of turnover and stale positions in the bank’s trading book 2.3: The Second Pillar- Supervisory Review Process Basel committee was initially set up for the supervising the internationally active banks and produce a common platform for the smooth transactions and cross border finance. The Basel II Accord has established Supervisory Process as one of the three pillars in order to emphasise its stand on supervisory process. The importance of supervisory process is described below. 2.3.1: Importance of Supervisory Process The supervisory review process of the Basel II Accord aims not only to ensure that banks have adequate capital to support all the risks in their business but also intends to encourage the banks to develop and use better risk management techniques in monitoring and managing risks. Alongside, the supervisory process by developing internal capital assessment process and setting capital targets that are commensurate with the bank’s risk profile recognises the importance for bank management in order to improve the atmosphere in the international banking and cross border finance. The Supervisory process evaluates the relationship between the amount of capital held by the bank against the risk, strength and effectiveness of the bank’s risk management eventually guiding the bank and supervising its activities in order to improve the performance of the banks in the international business market and cross border finance. 2.3.2 Four Key Principles of the supervisory review The four key principles identified by the Basel II Accord on the supervisory process is listed below. These principles emphasise on the committee’s focus on supervision and its aim to maintain harmony in the international banking and cross border finance. Principle 1: Banks should have a process for assessing their overall capital adequacy in relation to their risk profile and a strategy for maintaining their capital levels. Principle 2: Supervisors should review and evaluate banks’ internal capital adequacy assessments and strategies, as well as their ability to monitor and ensure their compliance with regulatory capital ratios. Supervisors should take appropriate supervisory action if they are not satisfied with the result of this process. Principle 3: Supervisors should expect banks to operate above the minimum regulatory capital ratios and should have the ability to require banks to hold capital in excess of the minimum. Principle 4: Supervisors should seek to intervene at an early stage to prevent capital from falling below the minimum levels required to support the risk characteristics of a particular bank and should require rapid remedial action if capital is not maintained or restored. 2.3.3: Issues to be addressed There are two specific issues to be addressed by the Supervisory-Review Process. They are Interest Rate Risk in the Banking book: Since it is clear that the Basel Committee’s primary focus is on identifying and preventing risk in the international b