Nutrition- How do we eat for a healthy life Research Paper

Nutrition- How do we eat for a healthy life - Research Paper Example Antoine Lavoisier is known as the father of nutrition because he designed a calorimeter in 1770 that measures heat production by the body after consuming different foods. In 1858, Eijkman a known physician noticed people in java had Beriberi, years later Fredrick Hopkins and Eijkman they noticed Beriberi was cured by vitamin B1. Dr. William Beaumont, the father of gastric physiology discovered that digestion occurs because digestive juices act on different foods at different times. Between 1884 and 1967, Kazimierz a biochemist mistakenly discovered animes and invented the term vitamins (vital animes). The dietary and Supplement Health and Education Act was approved in 1994 and it set standards for what can and cannot be said about nutritional supplements in the year 2000. In 2005, researchers discovered that adenovirus causes obesity and bad nutrition. The USDA’s focus was on research, discovery, financing agricultural exploration and hiring botanists to conduct research on agriculture in the US. In 1900s, USDA shifted its focus to food inspection. The Pure Food and Drug Act enforced milk pasteurization, inspection of food systems, and meat inspection for foods sold by interstate commerce. The department of health and human services (HHS) took charge of Social Security Administration, agencies of Public Health Service and Family Support Administration in 1979. HHS is under the Secretary of Health in America. The Public Health Service (PHS) is the core division of HHS. The concept of National School Lunch program was in New York City around 1853. The organization provided free lunches to children in local industrial schools. The Academy of Nutrition and Dietetics is an American organization of food and nutrition. A group of women formed it in 1917. The original mission was to help make maximum use of America’s food re sources. In 1973, the academy created a National Nutritional Week with the aim of assisting individuals to

Issues faced in BHP billiton and infosys

Issues faced in BHP billiton and infosys BHP Billiton and Infosys, though both successful in their own right, have emerged from different industrial sectors, and hugely contrasting geopolitical environments. BHP Billiton is the worlds largest mining organisation, and was formed in 2001 by the merging of the Australian Broken Hill Proprietary Company, and Billiton of the UK. The companys primary interests are in Iron ore, Manganese, Petroleum, Aluminium, Base Metals, Metallurgical Coal, Thermal Coal, Stainless Steel resources, and Diamonds/Speciality materials. BHP Billitons scale and diversity appear to have cushioned it from the worst ravages of the contemporary economic downturn, although, as will be discussed, this has not necessarily helped all of its employees and stakeholders. Unconcerned by such vagaries, Chief Executive Officer Marius Kloppers has recently judged that à ¢Ã¢â€š ¬Ã‚ ¦Commercial market mechanism will ensure that developing nations raw material demand is met, that suppliers obtain sufficient investment to meet demand and that new deposits of raw materials are discovered. (Smith BHP chief 2009) However, as other reports concede, BHP expects the majority of this demand to come from developed, rather than developing economies. à ¢Ã¢â€š ¬Ã‚ ¦Despite the low metals inventories in developed economies, there is little evidence yet of sustainable demand for metals emerging post the northern [hemisphere] summer. (MacNamara 2009) 2009 has seen mining profits depressed by the fall in commodities prices: however, BHP has confoun ded this trend by paying a final dividend which matched its interim payment, i.e. 41 cents. As MacNamara points out, BHP has been à ¢Ã¢â€š ¬Ã‚ ¦one of the more successful players in the sector, bigger and better able to handle difficult market conditions than rivals such as Anglo American and Xstrata, which have suspended their dividends until further notice. (2009) Uniquely amongst British mining concerns, BHP has the advantage of a petroleum division, which is now its third most profitable business. (MacNamara glass 2009) During 2009, BHP also abandoned plans to create a joint marketing company with Rio Tinto, which was to sell up to 15 per cent of Western Australian iron ore production. (Smith BHP Rio 2009) Infosys is another company which has made comparatively good progress during the economic downturn, and claims to have emerged from it already. Infosys is Indias second largest software services exporter, reporting a 17 per cent rise in first-quarter profits during 2009. Its UK clients include the UKs Waitrose supermarket chain and many leading international banks. Its business has now developed to the point where it is a viable competitor to long established IT providers, such as IBM, Hewlett-Packard, and Accenture (Fontonella-Khan 2009). Along with other Indian-based outsourcers, such as Wipro, Genpact, and Tata Consultancy Services, Infosys has a macro-economic significance far beyond its own industrial sector, having helped power the Indian economy to 9 per cent growth prior to the 2008-9 financial crisis. (Lamont 2009) London School of Economics analysts attribute this partly to the status of English as an official language in India, making the industrys services highly scaleabl e in western markets, and constituting a competitive advantage over new entrants such as China. As Ilan Oshri of the LSE Outsourcing Unit observes, à ¢Ã¢â€š ¬Ã‚ ¦India is not a powerhouse because it is cheap but because it is smart. Thats not the same with Chinaà ¢Ã¢â€š ¬Ã‚ ¦We dont see Chinese vendors emerging to be powerhousesà ¢Ã¢â€š ¬Ã‚ ¦China is much cheaper than India. But the game is not about cost, its about accessing talentà ¢Ã¢â€š ¬Ã‚ ¦.(Lamont 2009). Section 1: Similarities and Differences. Mitchell et al. identify three possible themes within stakeholder saliency: power, legitimacy, and urgency. (1997: p.853) Both of the companies in question have extended stakeholder chains, but they are rather different in character. It is this contrast which has determined the behaviour of each: altered in one case, unaltered in the other. Of the two, the company which has moved most swiftly to change and signal that change is Infosys, a series of events which may be interpreted according Mitchell et al.s saliency model. Infosys power is intrinsically linked to its legitimacy, and this in turn rests squarely on its relationship with important stakeholders. In the first instance, the companys fortunes are interdependent with the Indian government in its role as an economic facilitator and arbiter of structured growth: significant investor cooperation is contingent upon this relationship. If the emerging Indian economy wavers, the latter will worry about the skills base, infrastruct ure, and political stability which is necessary to grow Infosys shareholder value. Moreover, in a globalised economy, influence of investors upon customer attitudes cannot be underestimated. Infosys is an exemplar business to business operator, so its corporate responsibility profile impacts directly on that of its corporate customers. For example, Waitrose of the UK, which markets itself as a profit-sharing, employee friendly, ethical retailer, could not maintain its own CSR status whilst in cooperation with a pariah multinational. Infosys, therefore, must avoid such status at all costs. Things are different for BHP Billiton, whose corporate responsibility effort, as will be discussed, rests on engagement rather than action. The most striking recent fact pertaining to BHP Billitons social responsibility profile is its dismissal of six thousand employees and contractors in 2009 alone. (Smith axe 2009). However, for complex reasons, its stakeholder profile can accommodate such crises relatively comfortably. Section 2: Responsible business approach, has it increased/decreased, and why? As it is the worlds principal extractive company, it is not surprising that the areas of contention surrounding BHP Billitons operations span the environment, ecosystem, climate change, human resources, community disruption, land rights, political lobbying, and financial malpractice, to name but a few. It is far beyond the scope of this discussion to engage meaningfully with the empirical circumstances of all of these issues and concerns. It may be argued however, that its strategy is one of maximum engagement, and minimum change, a dynamic whose provenance lays in the nature of its stakeholder networks. The important point here is that BHP Billitons is not a unique position. As Brewster reports, an ever higher proportion of blue-chip organisations are joining the ranks of those who publish regular CSR reports. (2007). However, the only thing which this signals in absolute positivist terms is the willingness to open a dialogue with concerned stakeholder groups. At the same time, it can usefully reassure less concerned stakeholders i.e., conventional or unethical investors that the corporate responsibility issue is being fielded in an acceptable way. This is not to say that such reports merely convey a facile dialogue of inaction: however, as will be discussed, they do define and confine responsibility within certain manageable parameters. It may be argued that Infosys has adopted the same kind of logic in its corporate social responsibility effort: its 2008-9 report states that We understand the implications our business has on the economy, environment and society. We also recognise that there is much to learn and engage with our stakeholders to improve our performance in all areas. (Infosys 2009) It goes on to remind the reader that its board members participate in advisory councils, governments and not-for profit organisations à ¢Ã¢â€š ¬Ã‚ ¦to formulateà ¢Ã¢â€š ¬Ã‚ ¦policies on topics such as corporate governance, healthcare, education, climate change, and other key sustainability areas. (Infosys 2009: p.9) The over-arching message is clearly that Infosys is representing itself as a learning organisation, in the defined sense of that term. As Lane et al. point out, each organisation, whether formally constituted or otherwise possesses its own learning culture, subsumed within compatible norms and values, operatio nal priorities, or dominant logics. (2001: p.1143). Of the two organisations however, Infosys has exhibited by far the greatest degree of change in its behaviour. Along with Tata Consulting Services and Wipro, are at the centre of a controversy concerning the importing of non-EU IT workers into the UK: Infosys has itself brought in 3,030 of these employees. The transfer route is, as a consequence, being tightened by the UK Home Office, with the result that temporary workers will no longer have any rights of settlement: in addition, employees will have to have been with a company for a minimum of one year, before transferring to the UK branch (Boxell 2009). However, as both companies as the government are aware, such transfers are sometimes the only means by which specific human resources shortages may be addressed: as Phil Woolas, the immigration minister, concedes, à ¢Ã¢â€š ¬Ã‚ ¦.Intra-company transfers are an important part of making the UK an attractive place in which to do business, and therefore keep industry and the economy mov ing. (Boxell 2009). The point here is that Infosys extended stakeholder chain implies pressures which must be balanced out through this, and other, important structural issues. It cannot afford to be less competitive than its rivals in terms of corporate responsibility, or it will simply lose business. Conversely, BHP Billiton will not. Its stakeholder chain is wider, more diffuse, and far less responsibility-dependent: in short, the world knows what kind of organization it is, and it grows no poorer. Section 3: Contrasting Viewpoints. There are various theoretical frameworks which might be employed to assess the relative corporate responsibility efforts of BHP Billiton and Infosys, despite their intrinsic differences. These range from the extreme Kantian ethical position, which argues that a corporation can have no duty other than to shareholder, or the virtue or Confucian ethical position, which argues that innately good practice will eventually ensure rewards. Two modified positions which might allow a more measured assessment are Tinged Shareholder theory, as posited by Moore and others, and utilitarian ethics. As Moore has argued if tinged shareholder theory were to become a normative model , there would be a greater concentration on the ideal type virtues required of a good manager, and a good organisation. Consequently, a focus on the area of virtue ethics might prove central to the visualising of a corporate responsibility ideal (Moore 1999: p.126). Meanwhile utilitarian ethics arguably provides a useful pe rspective because of its outcome-focused, bottom-line orientated assessment of events. As Fisher and Lovell point out, utilitarianism, combined with cost-benefit analysis, tends to focus on a good rather than the general good, and is therefore very valuable to organisations who wish to manage corporate responsibility, rather than be managed by it. Infosys has indicated a heightened awareness of its stakeholder responsibilities and potential vulnerability by hastily re-constructing its corporate governance image in the aftermath of recent problems. Principal amongst these has been the financial scandal at Satyam Computer Services, its main rival in the software outsourcing sector. As the Financial Times reports, à ¢Ã¢â€š ¬Ã‚ ¦B. Ramalinga Raju, the former chairman of Satyam who is now in police custody, undermined confidence in the sector when he confessed to manipulating the companys accounts last week, including by inventing a cash pile worth more than $1bnà ¢Ã¢â€š ¬Ã‚ ¦'(Leahy reassures 13.1.2009). Acutely sensitized to the negative fall-out from this, Infosys CEO S. Gopalakrishnan has reportedly judged that the entire IT outsourcing sector needs heightened transparency, adding that he himself had been receiving increasing requests for fiduciary details from clients and investors. As he put it, à ¢Ã¢â€š ¬Ã‚ ¦The reason we need to take some confidence measures at this point is that some queries have come in from customersà ¢Ã¢â€š ¬Ã‚ ¦ If you look at our disclosures, we have listed every single bank account and the amount of money we have in the bank so if investors are interested they can check and call the banksà ¢Ã¢â€š ¬Ã‚ ¦. (Leahy reassures 2009). The important point here is that Infosys is attempting to avoid a utilitarian, outcome-orientated model of stakeholder analysis, by adopting a position informed by virtue ethics. It has not been accused of any wrong-doing yet and is attempting to avoid that contingency by exhibiting transparently good behaviour. It has sound business reasons for doing so: as western companies reconstruct themselves following the recent economic downturn, they are downsizing by outsourcing, and Infosys is well placed to capture such business, if it is untainted by corporate responsibility problems. As Chief Executive Officer, S. Gopalakrishnan explains, à ¢Ã¢â€š ¬Ã‚ ¦You want to be cautious because its not completely out of the woods but we clearly see some growthà ¢Ã¢â€š ¬Ã‚ ¦ (Leahy 2009) Like that of many similar Indian companies, the stability and expansion of Infosys is contingent upon the expansion of outsourcing from client companies in the developed world. Infosys itself added a further 35 companies to its client portfolio in the second quarter of 2009. These combined factors have resulted in the addition of 1,548 new employees in the same period, bringing the total on its books to 105,500. As well as reassuring its direct stakeholders, Infosys has also proved itself attentive to the needs of the wider social and political constituency. One example of this lays in the denouement of the Tata Nano car plant dispute, in which protesters alleged that the rights of farmers had been usurped in order to facilitate the development in West Bengal. Orchestrated by Indias principal opposition party the Trinamool Congress, the movement physically besieged the Singur site, drawing down foreign media attention and threatening to dampen foreign investment. CEO S Gopalakrishnan was initially à ¢Ã¢â€š ¬Ã‚ ¦impressed with the efforts of the state government in attracting such investments: however, he now concedes that à ¢Ã¢â€š ¬Ã‚ ¦.Singur has created fear in the minds of India Inc and like all other companies we are watching the developments very closely We will rethink and re-examine our proposed investment if need be.. The bottom line is that Infosys may not proceed with its own Wes t Bengal development plans if the situation is not resolved (Leahy nervous 2009). BHP Billitons needs in terms of communication and responsibility are quite different, and it has arguably opted for a utilitarian, relativist interpretation of good. This approach allows it relative freedom to pursue its vast portfolio of extractive activities in way which might be more difficult if it took a more obstructive stance. In its detailed deposition on BHP Billiton, the Ecumenical Council for Corporate Responsibility reported that it felt, à ¢Ã¢â€š ¬Ã‚ ¦in general, with a few exceptions outlined below, the company has developed a relatively advanced set of policies, which give consideration to many of the issues that our partners have raised in the Bench Marks document. (ECCR 2004: p.7) Moreover, an important part of its dialogue with ethical regulators such as the ECCR lays not in the discussion of specific or practical acts of corporate responsibility, but the demonstration of stakeholder awareness in the abstract. As it explains, The company provides regular reports to all stakeholders that are independently verified on a plan detailing how the company and the suppliers have shared responsibility for complianceà ¢Ã¢â€š ¬Ã‚ ¦ and à ¢Ã¢â€š ¬Ã‚ ¦adopts a transparent policy and reports publicly to all stakeholders on its compliance programme, the findings, and what changes have been made at the factory level. (ECCR 2004: p.63). This is central to BHPs entire CSR strategy: monitoring bodies are left facing a multi-headed hydra of good, bad, or indifferent practice across the companys vast array of activities and geographical reach. As one area of neglect arises, another is dealt with, a process through which the dialogue of engagement and improvement is maintained. The other constant is shareholder value: as the regulators succeed in limiting less equitable practices in one area, less ethical investors may take comfort from the fact that more profitable centres elsewhere retain their potential for dividends. As Moore points out, à ¢Ã¢â€š ¬Ã‚ ¦it is a common feature of theories of the firm that they regard the firm as a nexus of contracts. Theà ¢Ã¢â€š ¬Ã‚ ¦theories differ as to the extent of these relationships, with shareholder theory restricting this to legal and implied contracts, while stakeholder theory takes a broader definition to include social/moral as well as legal and implied contracts. (Moore 1999: p.122) The point here is that the utilitarian approach adopted by BHP Billiton has, for the time being, balanced these two forces. Conclusion A common theme in the fortunes of these two different companies lays in their successful emergence from a difficult economic period. BHP has recently asserted that there are à ¢Ã¢â€š ¬Ã‚ ¦signs of stabilization in the developed economies, with positive signs of improvement in industrial production. (MacNamara 2009) Moreover, BHP will soon be free to refresh its takeover bid for Rio Tinto, under the terms of the UK takeover code. (Smith BHP and Rio 2009) BHP also told shareholders that market conditions had improved since it held its annual meeting in London. à ¢Ã¢â€š ¬Ã‚ ¦The velocity of the recoveryà ¢Ã¢â€š ¬Ã‚ ¦has indeed been surprisingà ¢Ã¢â€š ¬Ã‚ ¦ CEO Kloppers said, whilst cautioning that à ¢Ã¢â€š ¬Ã‚ ¦BHP was expected to emerge from the downturn less strongly than in previous cycles. (Smith 2009). This may be interpreted as a restraining hand upon corporate responsibility: things are OK, but dont interfere. Meanwhile, Infosys has also benefited from its more public, virtu e-driven responsibility stance. Research by the London School of Economics indicates that western executives in western companies opted for outsourcing à ¢Ã¢â€š ¬Ã‚ ¦on quality of service more than price. It also pointed out that Egypt, Hungary and Romania were most likely to join the shared service centre sector as key players in the near future (Lamont 2009). Infosys has of course already laid the foundations for such diversification, stating that à ¢Ã¢â€š ¬Ã‚ ¦As we grow further, we have to make sure our workforce reflects the regions from where we derive revenue to whatever extent possibleà ¢Ã¢â€š ¬Ã‚ ¦ (Leahy 2006). In conclusion, it seems reasonable to argue that corporate responsibility and stakeholder concerns are at their most harmonious -for better or worse when the hegemony of liberal economics prevails. As Collier points out, In the modern world of globalisation there are some fabulous ladders: most societies are using them. But there are also some chutesà ¢Ã¢â€š ¬Ã‚ ¦ (2007: p.5) If classical economics is afforded hegemony, then any expectation which does not implicitly recognise that snakes can swiftly become ladders -and vice versa  ­- is inherently flawed. The collection of papers on globalisation edited by Timmons Roberts and Bellone incorporates commentary by some rather older commentators, who observed that, à ¢Ã¢â€š ¬Ã‚ ¦the bourgeosie cannot exist without constantly revolutionising the instruments of production, and thereby the relations of production, and with them the whole relations of society. (Timmons Roberts and Bellone, 2007: p.27) As unfashionable as they may be, Mar x and Engels may have distilled an essential truth here, regardless of the fact that they did so through observation of an earlier period of structural economic change. The unavoidable function of companies, including Infosys and BHP Billiton, is to serve shareholder value. When they cease to do so, they will also cede their position to other who will.

Alaska: Wrangell-St. Elias National Park and Rights-of-Way Law-of-Way Law :: Environment Research Essays

Alaska: Wrangell-St. Elias National Park and Rights-of-Way Law In Wrangell-St. Elias National Park and Preserve, there are over 1 million acres of non-federal inholdings to which access is, and has been a major issue of controversy. Park managers and landowners alike are trying to reach an agreement which would provide for the access to private property, as well as towns such as Nabesna, McCarthy, and Kennecott. The following information will be used to convince park managers and conservationist groups that access via R.S. 2477 rights-of-ways are not only necessary, but also guaranteed by state and federal law. For most Americans, traveling to and from home is relatively simple. Travel in most of the United States is on paved roadways, and most roadways draw very little attention from conservationist groups. This, however, is not the case for residents in Wrangell-St. Elias National Park. Wrangell-St. Elias National Park was established in 1980 by the Alaska National Interest Lands Conservation Act of 1980. ANILCA is an act established †To provide for the designation and conservation of certain public lands in the State of Alaska, including the designation of units of the National Park, National Wildlife Refuge, National Forest, National Wild and Scenic Rivers, and National Wilderness Preservation Systems, and for other purposes.† (96th Congress of the United States, 1980) This act provided for the protection of millions of acres of Alaska’s wilderness through the creation of national parks and preserves, but in doing so, surrounded many small towns and villages by federally protected land. Despite protecting millions of acres of wilderness, this act provided for the numerous groups of people affected by the establishment of this law. Stipulations regarding the use of protected lands by private landowners were made. People living inside the park lands were guaranteed the right to subsistence hunting and fishing, as well as the guaranteed access to their lands. This right of access is the main concern for this argument, as it is a major management issue for park officials and land owners alike. As aforementioned, access to park lands is guaranteed by ANILCA, Title 11,  §1107, but it is also protected by the Federal Reserved Statute 2477. R.S. 2477 is a federal statute providing for the access across public lands. Once established, RS 2477 claims can not be eliminated. This policy was put in place in 1866 by The Mining Act to provide for mineral and resource extraction as well as for expansion to the west.

Past Year Question Strategic Management Uitm

Jan 2012 Question 1 a) Some strategist argued that one of the most critical, and yet overlook internal implementation factor is a firm’s culture. Define organizational culture and elaborate some importance and impact of culture in strategy implementation. Apr 2011 Question 2 Discuss the three (3) stages of strategic management process. Which stage in the strategic management process is most difficult? Justify your answer. Apr 2010 Question 2 Explain the formal strategic management process according to David (2009).Describe the specific steps and relationships between the steps within each process. Oct 2009 Question 2 a) Compare strategy formulation with strategy implementation in terms of each being an art or science. b) Explain why organizational structure is so important in business today? Apr 2009 Question 1 b) The strategic management process consists of three (3) main stages. Explain the five ( 5) components in strategy formulation process. Question 2 ) Explain any five ( 5) differences between strategy formulation and strategy implementation process. Oct 2008 Question 2 Successful strategy formulation does not guarantee successful strategy implementation. Therefore many management issues require management attention to ensure the effectiveness of strategy implementation. Identify and discuss any five (5) major issues that relate to strategy implementation phase. Question 4 According to strategic management model by Fred R.David, the strategy formulation stage comprise of five (5) major steps. Identify and explain the five (5) steps in the strategy formulation process. Oct 2007 Question 1 Discuss five (5) reasons why strategy evaluation is becoming increasingly difficult with the passage of time. Oct 2006 Question 1 a) Define strategic management b) Describe the strategic management process. c) List two (2) financial benefits and two (2) nonfinancial benefits of strategic management.

Selecting Employee

Learn how to select and hire the best employees for your open positions. Selection and evaluation techniques are explored that help you pick among qualified candidates. Employee selection processes are critical to hiring a superior staff. Learn to improve your employee selection methods. 10 Tips for Hiring the Right Employee Top Ten Tips for Selecting and Hiring the Right Employee Hiring the right employee is a challenging process. Hiring the wrong employee is expensive, costly to your work environment, and time consuming. Hiring the right employee, on the other hand, pays you back in employee productivity, a successful employment relationship, and a positive impact on your total work environment. Hiring the right employee enhances your work culture and pays you back a thousand times over in high employee morale, positive forward thinking planning, and accomplishing challenging goals. This is not a comprehensive guide to hiring an employee. But, these are key steps to hiring the right employee. 1. Define the Job Before Hiring an Employee Hiring the right employee starts with a job analysis.  The job analysis enables you to collect information about the duties, responsibilities, necessary skills, outcomes, and work environment of a particular job. The information from the job analysis is fundamental to developing the job description for the new employee. The job description assists you to plan your recruiting strategy for hiring the right employee. Job HiringEasy Search & Posting: AyosDito Free Job Posting, No Sign Ups! www. AyosDito. ph Interview Strategy GuideGet a Free interview strategy for HR professionals. hr. mcleanco. om/interview-guide Employment ScreeningInternational Background Checks No hidden fees or minimum orders 2. Plan Your Employee Recruiting Strategy With the job description in hand, set up a recruiting planning meeting that involves the key employees who are hiring the new employee. The hiring manager is crucial to the planning. At this meeting, your recruiting strategy is planned and the execution begins. Teams that have worked together frequently in hiring an employee can often complete this step via email. 3. Use a Checklist for Hiring an Employee  This checklist for hiring an employee will help you systematize your process for hiring an employee. Whether it's your first employee or one of many employees you are hiring, this checklist for hiring an employee helps you keep track of your recruiting efforts. The checklist for hiring an employee keeps your recruiting efforts on track and communicates progress to interested employees and the hiring manager. 4. Recruit the Right Candidates When Hiring an Employee You can develop relationships with potential candidates long before you need them when hiring an employee.  These ideas will also help you in recruiting a large pool of candidates when you have a current position available. The more qualified candidates you can develop when hiring an employee, the more likely you are to locate a qualified potential employee. Read on to discover the best ways to develop your talent pool when hiring an employee. 5. Review Credentials and Applications Carefully The work of reviewing resumes, cover letters, job applications, and job application letters starts with a well-written job description.  Your bulletted list of the most desired characteristics of the most qualified candidate was developed as part of the recruiting planning process. Screen all applicants against this list of qualifications, skills, experience, and characteristics. You'll be spending your time with your most qualified candidates when hiring an employee. And, that is a good use of your time. 6. Prescreen Your Candidates The most important reason to prescreen candidates when hiring an employee is to save the interviewing and selection committee time.  While a candidate may look good on paper, a prescreening interview will tell you if their qualifications are truly a fit with your job. Additionally, in a prescreening interview, you can determine whether their salary expectations are congruent with your job. A skilled telephone interviewer will also obtain evidence about whether the candidate may fit within your culture – or not. 7. Ask the Right Job Interview Questions The job interview is a powerful factor in hiring an employee. The job interview is a key tool employers utilize in hiring.  The job interview questions asked are critical in magnifying the power of the job interview to help you in hiring the right employee. Interview questions that help you separate desirable candidates from average candidates are fundamental when hiring an employee. Job interview questions matter to employers. Here are sample job interview questions. 8. Check Backgrounds and References When Hiring an Employee Effective background checks are one of the most important steps when hiring an employee. You need to verify that all the presented, sterling credentials, skills, and experience are actually possessed by your candidate.  The background checks must include work references, especially former supervisors, educational credentials, employment references and actual jobs held, and criminal history. Other background checks when hiring an employee, such as credit history, must be specifically related to the job for which you are hiring an employee. 9. Extend a Job Offer The job offer letter is provided to the candidate you have selected for the position. Most frequently, the candidate and the organization have verbally negotiated the conditions of hire and the job offer letter confirms the verbal agreements about salary and benefits.  The more senior the position, however, the more likely the job offer will turn into a protracted negotiation about salary, benefits, employment termination, bonus potential, severance pay, stock options, and more. 10. Use Effective Employment Letters These sample employment letters will assist you to reject job candidates, make job offers, welcome employees, and more when hiring an employee. Use these sample employment letters to develop the employment letters you use in your organization when hiring an employee. New Employee Orientation: Employee Onboarding New employee orientation is the process you use for welcoming a new employee nto your organization. New employee orientation, often spearheaded by a meeting with the Human Resources department, generally contains information about safety, the work environment, the new job description, benefits and eligibility, company culture, company history, the organization chart and anything else relevant to working in the new company. New employee orientation often includes an introduction to each department in the company and training on-the-job. New employee orientation frequently includes spending time doing the jobs in each department to understand the flow of the product or service through the organization. Tips for a Better New Employee Orientation When we orient new hourly (non-exempt) employees, we provide a standard HR couple of hours on policies, procedures, company history, goals, culture, punching in and work rules. We give a company tour and hourly employees then train and cross-train on the job. Managerial and salaried (exempt) employees participate in an orientation that is custom-designed for them. It includes the above information that is received by all employees. Additionally, their orientation may last one to two weeks and it enables them to meet the whole organization, their direct reports and more. They should leave this orientation with a clear picture of the organization, its challenges, its goals and their opportunity to assist with progress. It is challenging to make sure salaried employees have the chance to do the orientation while also beginning their new job. Neither can be put on hold. My current new director spent the morning helping to write an RFP for a potential customer rather than attending his scheduled meetings. This is okay, but I don't want his orientation to get off track. It provides fundamental information he needs to succeed in this organization. From an HR perspective, this may not be ideal for making sure he gets the organization overview, but it is ideal for helping him integrate quickly into the working business of the company – and that's the point. Right? The best orientation I have ever known was instituted at Edgewood Tool and Manufacturing. Every manager who hired a new employee was required to write a 120 day orientation for the new employee. It involved one action a day. Actions included meeting the Director of Quality, calling on a customer and having lunch with the CEO. You can bet that new employee was thoroughly welcomed and integrated into the organization after 120 different orientation events. Orientation and Training of New Employees New employee orientation effectively integrates the new employee into your organization and assists with retention, motivation, job satisfaction, and quickly enabling each individual to become contributing members of the work team. New Employee Welcome Letter-A welcome letter to a new employee who has accepted your job offer confirms the employe's decision to accept the position. The welcome letter helps the new employee feel wanted and welcomed. Depending on the goal of your new employee welcome letter, these sample welcome letters will give you a template. See sample welcome letters for new employees. Onboarding-Onboarding is the process of acquiring, accommodating, assimilating and accelerating new team members, whether they come from outside or inside the organization. Effective onboarding of new team members is one of the most important contributions any hiring manager or HR professional can make to long-term success. Onboarding done right drives new employee productivity, accelerates results, and significantly improves talent retention. Yet few organizations manage the pieces of onboarding well. Purposes of Orientation Employers have to realize that orientation isn't just a nice gesture put on by the organization. It serves as an important element of the recruitment and retention process. Some key purposes are: * To Reduce Startup Costs: Proper orientation can help the employee get â€Å"up to speed† much more quickly, thereby reducing the costs associated with learning the job. To Reduce Anxiety: Any employee, when put into a new, strange situation, will experience anxiety that can impede his or her ability to learn to do the job. Proper orientation helps to reduce anxiety that results from entering into an unknown situation, and helps provide guidelines for behavior and conduct, so the employee doesn't have to experience the stress of guessing. * To Reduce Employee Turnover: Employee turnover increases as employees feel they are not valued, or are put in positions where they can't possibly do their jobs. Orientation shows that the organization values the employee, and helps provide the tools necessary for succeeding in the job. * To Save Time for the Supervisor: Simply put, the better the initial orientation, the less likely supervisors and co-workers will have to spend time teaching the employee. * To Develop Realistic Job Expectations, Positive Attitudes and Job Satisfaction: It is important that employees learn as soon as possible what is expected of them, and what to expect from others, in addition to learning about the values and attitudes of the organization. While people can learn from experience, they will make many mistakes that are unnecessary and potentially damaging. The main reasons orientation programs fail: The program was not planned; the employee was unaware of the job requirements; the employee does not feel welcome. Employee orientation is important – orientation provides a lot of benefits, and you can use feedback to make your orientations even better. Use Training and Development to Motivate Staff Building Your Employee Training and Development Program Want to keep your staff motivated about learning new concepts? The quality and variety of the employee training you provide is key for motivation. Reasons for employee training range from new-hire training about your operation, to introducing a new concept to a workgroup to bringing in a new computer system. Whatever your reason for conducting an employee training session, you need to develop the employee training within the framework of a comprehensive, ongoing, and consistent employee training program. This quality employee training program is essential to keep your staff motivated about learning new concepts and your department profitable. Essential Components of Employee Training Programs A complete employee training program includes a formal new hire training program with an overview of the job expectations and performance skills needed to perform the job functions. A new hire training program provides a fundamental understanding of the position and how the position fits within the organizational structure. The more background knowledge the new associate has about how one workgroup interrelates with ancillary departments, the more the new associate will understand his or her impact on the organization. Another aspect of a comprehensive employee training program is continuing education. The most effective employee training programs make continuing education an ongoing responsibility of one person in the department. This is an important function that will keep all staff members current about policies, procedures and the technology used in the department. New Hire Training A solid new hire training program begins with the creation of an employee training manual, in either notebook format or online. This manual acts as a building block of practical and technical skills needed to prepare the new individual for his or her position. In order for the department to understand current policies and procedures, a manager must ensure the department manuals or online employee training are kept current. This includes any system enhancements and / or change in policy or procedure. In addition, keep the user in mind when designing training manuals or online training; keep the employee training material interesting for the learner. Use language that is not â€Å"corporate† and include images and multi-media. Much of this employee training and reference material belongs online these days in a company Intranet. But, if your organization is not ready to embrace the online world, keep the manuals up-to-date and interesting. When possible, in computer training, incorporate visual images of the computer screen (multi-media screen capture) to illustrate functions, examples, and how tos. On the Job Training Another form of new hire training includes having the new associate train directly next to an existing associate. Some call this On the Job Training (OJT) or side-by-side training. This type of employee training allows the new associate to see first hand the different facets of the position. Also, OJT allows the new hire the opportunity to develop a working relationship with an existing associate. This type of employee training reinforces concepts learned in the initial training and should be used to reinforce and apply those same learned concepts. Continuing Education in Employee Training A continuing education program for a department is just as important as the new hire training. When training a new associate, I have found that they will only retain approximately 40 percent of the information learned in the initial training session. Therefore, a continuous effort must be placed on reminding the staff about various procedures and concepts. This continuing education can be formal or informal. (The author’s preference is always with a more informal approach. ) The formal, or traditional approach, to employee training often includes a member of management sending a memo to each associate. The informal, and often more appealing approach to a visual learner, is to send a one-page information sheet to staff. This information sheet, called a training alert, should be informative and presented in a non-threatening manner. Therefore, if the policy or procedure changes, the informal approach would better prepare the department to receive this presentation. New Employee Training – Is It Worth The Investment Getting off on the right foot Many companies provide some sort of introductory training or orientation for most of their new employees. It may take the form of an older employee assigned to show the new employee â€Å"the ropes. † Or it may be left to the HR department or the individual's new supervisor to show them where the coffee pot is and how to apply for time off. Many organizations, especially in government and academia, have created new employee training that is designed, exclusively or primarily, to provide mandated safety familiarization. Yet some companies in highly competitive industries recognize the value in New Employee Orientation (NEO) that goes much farther. They require several weeks or even months of training to familiarize every new employee with the company, its products, its culture and policies, even its competition. There is a measurable cost to that training, but is it worth it? Let's look at some of the issues. Some Background Facts The technology in the workplace is changing very rapidly and companies that can't keep up will drop out of competition. A survey by the Ontario (Canada) Skills Development Office found 63% of the respondents planned to â€Å"introduce new technology into the workplace that would require staff training. A third of the respondents included â€Å"improving employee job performance† and â€Å"keeping the best employees† as desired outcomes. The American Society for Training and Development (ASTD) reports that less than $1500 per employee was spent for training in 1996. The largest part of that (49 percent) was spent for technical and professional training. Only two percent was spent for New Employee Orientation and three percent on quality, competition and business practices training.

Rethinking Christ and Culture A Post

Rethinking Christ and Culture A Post This paper is aimed at discussing the book Rethinking Christ and Culture: A Post-Christendom Perspective written by Craig Carter. This work is important for analyzing the role that religion should play in the contemporary society.Advertising We will write a custom essay sample on Rethinking Christ and Culture: A Post-Christendom Perspective specifically for you for only $16.05 $11/page Learn More One of the points that the author makes is that Christian organizations should not separate themselves from the world of politics in order to maintain their moral integrity. Moreover, religion should not be viewed as the main agent that dominates culture since this policy can undermine the credibility of the church. Thus, it is critical to examine the strengths and weaknesses of the arguments expressed in this book. On the whole, one can argue that Craig Carter successfully identifies the most important problems that religious institutions should address in order to maintain their ethical integrity. By using Biblical and historical examples, the author demonstrates that contemporary views on religion should be re-evaluated. It should be noted that Craig Carter critiques the ideas expressed by Helmut Niebuhr. This theologian argues the development of Western civilization and culture has been shaped primarily by Christian thought (Niebuhr 7). Thus, religion can be regarded as the agent of transformation. These arguments are based on the premise that the representatives of various social or political institutions perceive themselves primarily as Christians. This is one of the assumptions that Craig Carter wants to question. From his standpoint, Niebuhr’ theory is not relevant to the modern community. Moreover, it contradicts the principles that are outlined in the Bible. These are the most important elements of Craig Carter’s book. First of all, this author rejects the notion of Christendom or Western civilization that has â€Å"a religious arm (the church) and a secular arm (civil government) both of which are united in their adherence to Christian faith, which is seen as the â€Å"soul† of Europe, or the West† (Carter 14). This is the main notion that Craig Carter wants to examine in a critical way. The writer makes several points in order to show that this notion is not acceptable. He mentions that the ideas expressed in the gospels are â€Å"countercultural, nonviolent, and subversive of empire† (Carter 20). In turn, the very idea of Christendom implies that the followers of Jesus try to become of a part of the empire (Carter 20). This is one of the details that can be identified.Advertising Looking for essay on religion theology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Furthermore, the writer believes that Christian Church should adopt new roles in the modern society. In particular, this institution should not associate itsel f with the government because this association implies that the church legitimizes the coercive violence that the government can perpetrate (Carter 105). Therefore, it is necessary to â€Å"draw visible between the church and the world† (Carter 105). In this way, religious organizations will be able to safeguard themselves against decisions that cannot be ethically acceptable. For instance, one can mention the encouragement of the Crusades or even the justification of slave labor in the United States (Carter 105). So, the writer wants Christians to re-evaluate the role of church in the world. To a great extent, these ideas are supported by Chris Hedges. In particular, this writer points out that religious rhetoric often contributed to violence. For instance, the opposing sides often call each other â€Å"infidels† in order to justify the use of violence (Hedges 22). The main problem is that this rhetoric can often be condoned by religious leaders. Such actions can unde rmine the ethical reputation of the church. Thus, this involvement with political life can make people even more averse to religion. This is why this risk should not be overlooked. Additionally, Craig Carter speaks about such as notion as post-Christendom world. Under such circumstance, the church should not act an institution which tries to change legal norms that people should follow. For instance, many religious organizations attempt to prohibit abortions. The main problem is that this policy can antagonize the church with people who do not want to accept the rules without any question. Instead, religious organizations should identify what kind of behaviors can be acceptable for the followers of Jesus (Carter 105). This is one of the central ideas that this writer wants to express. The writer creates a very vivid metaphor which exemplifies the relations between modern religion and the state. In particular, the author speaks about people who â€Å"simultaneously confess both Jesu s and Caesar as Lord† (Carter 115). In the post-Christendom world, people should clearly distinguish between these notions. It has often been assumed that many the United States has always been only a Christian nation. Yet, some researchers believe that this argument is significantly exaggerated. For example, in his book, Richard Hughes notes that many American politicians advocated the idea of separating the church and the state (Hughes 22). This separation is critical for ensuring the individual liberties are not restricted. Thus, this author also can support Craig Carter’s views on the role of religion. There are several strengths of this book. Among the positive aspects, one can mention the author’s analysis of Biblical examples which demonstrate that Christianity should not be turned into a civil religion. The author clearly shows that Jesus Christ did not want the religion to be a part of the state. This textual evidence is necessary for demonstrating that the very notion of Christendom runs against the notion of Jesus Christ.Advertising We will write a custom essay sample on Rethinking Christ and Culture: A Post-Christendom Perspective specifically for you for only $16.05 $11/page Learn More Moreover, Craig Carter provides a detailed survey of the historical tendencies that affected the church. In particular, the writer shows how the ethical reputation of the church could be compromised because of its affiliation of the state. For instance, the author discusses the unification of the early Christians and the Roman Emperor Constantine (Carter 82). Overall, the author’s analysis is interesting and convincing. These are the main strengths that can be identified. Yet, there are some limitations that should be considered. For example, the author does not take into account that religious rhetoric can simply be used by people who pursue their political or economic objects. These individuals may not be strong ly affiliated with any church. Therefore, one should not suppose that by separating itself from the state, the church can remain completely uninvolved in the social life. This is one of the risks that should not be overlooked. Furthermore, Craig Carter does not explain how religious organizations should change people’s views on the notion of Christendom. These are some of the limitations that should be taken into account. On the whole, one can say that Craig Carter’s book raises thought-provoking questions about the development of the modern Christianity. The author attempts to identify the way in which religion should function in the modern society. In his opinion, religion should not serve the interests of the state. By examining Biblical examples and historical trends, the writer is able to show why the church should adjust to a new cultural environment. Carter, Craig. Rethinking Christ and Culture: A Post-Christendom Perspective, New York: Brazos Press, 2007. Prin t. Hedges, Chris. War is a Force that Gives Us Meaning, New York: Random House, 2002. Print. Hughes, Richard. Myths America Lives by, Champaign: University of Illinois Press, 2004. Print.Advertising Looking for essay on religion theology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Niebuhr, Helmut. Christ and Culture, New York: Harper Brothers, 1956. Print.

Example Sentences of the Verb Forget

Example Sentences of the Verb Forget As a new English learner, it can be easy to forget the proper tense for irregular verbs. This page provides example sentences of the verb Forget in all tenses including active and passive forms, as well as conditional and modal forms.   Every Tense of Forget Base Form forget / Past Simple forgot / Past Participle forgotten / Gerund forgetting Present Simple He often forgets to do his homework. Present Simple Passive The homework is often forgotten by some of the students. Present Continuous I am forgetting my appointment! Present Continuous Passive The appointment is being forgotten, isnt it? Present Perfect Have you ever forgotten an appointment? Present Perfect Passive Has an appointment ever been forgotten? Present Perfect Continuous I have been forgetting to apply conditioner and now my dandruff has come back Past Simple He forgot to come to the meeting. Past Simple Passive The meeting was forgotten by John. Past Continuous They were forgetting about everything when I reminded them of their duties. Past Continuous Passive Everything was being forgotten when I reminded them of their duties. Past Perfect He had forgotten to mention the new employee when I introduced him. Past Perfect Passive The new employee had been forgotten by management when I introduced him. Past Perfect Continuous I had been forgetting to apply conditioner when my hair fell out. Future (will) She will forget it. Im sure! Future (will) Passive It will be forgotten, wont it? Future (going to) She isnt going to forget the appointment. Future (going to) Passive The appointment isnt going to be forgotten. Future Continuous None Future Perfect She will have forgotten everything by the end of next week. Future Possibility She might forget the appointment. Real Conditional If she forgets, I will give her a call. Unreal Conditional If she forgot, I would give her a call. Past Unreal Conditional If she had forgotten, I would have given her a call. Present Modal She should forget about it. Past Modal She must have forgotten about the appointment. Quiz: Conjugate With Forget Use the verb to forget to conjugate the following sentences. Quiz answers are below. In some cases, more than one answer may be correct. _____ you ever _____ an appointment?She _____ it. Im sure!_____ an appointment ever _____?The homework _____ often _____ by some of the students.She _____ everything by the end of next week.If she _____, I would have given her a call.He _____ to come to the meeting last week.The new employee _____ by management when I introduced him.She will _____ it. Im sure!The appointment _____ (not). I promise. Quiz Answers Have forgottenwill forgetHas been forgottenis forgottenwill have forgottenhad forgottenforgothad been forgottenwill forgetisnt going to be forgotten

How to stay eager and motivated during the summer

How to stay eager and motivated during the summer Which is worse: a case of the Mondays, or a case of the Summer Fridays? There’s always the coffee cure for that groggy feeling as you drag your feet to work on Mondays, but what about the long slow burn of the summer Fridays, when you’re surrounded by empty desks of people on vacation? Whether it’s the summer heat, the creeping envy of coworkers on vacation, or just the call of the outdoors, staying motivated and productive this time of year can be a challenge. Here are 5 ways to beat the summer blahs, stay focused, and enjoy your work more. Set micro-goalsReaching a goal you’ve worked hard for can make you feel a great sense of accomplishment. So why not get this feeling in smaller doses to help give you a boost throughout the day? Making a list of small goals- even â€Å"get coffee†- can help you get focused and get the ball rolling on the tasks you need to do. Checking something off your list can also help you feel productive and organized. Even better: set time goals. Turn your task into a small challenge. What can you get done in the next 15 minutes? To stay truly productive, schedule the next hour, the whole morning, and the rest of the day.DaydreamBut make sure you also schedule some break time. You may find yourself avoiding work to think about all the fun coworkers are having on vacation as you sit in your ghost town of an office, or to start planning out your ideal beach weekend. Use this tendency to daydream to your advantage by making it strategic. Letting yourself daydream (on a time limit) can refresh you and help you refocus before you go back to your work. It’s better to give yourself planned breaks rather than let your mind wander all day. And whatever you do, stay off social media (scrolling through posts of other people’s sunsets and palm trees won’t help you stay motivated).Reward yourselfWe’re not rats in a maze, but we are motivated to act by reward centers in our brains. If yo u’re absolutely burnt out at work and wishing you could take the day off and enjoy the sun, make your break times, evenings, and weekends count. Treat yourself by splurging on a really great lunch. Go to a movie after work. Rest well. Buy a new outfit as if you were taking a vacation. Plan a day trip for the upcoming weekend. Cost and time can prohibit you from actually going to the Bahamas, but even simply planning something you will enjoy later can boost your mood now- helping you be more productive in your everyday routine.Switch up your routineSpeaking of the everyday routine: if you just find yourself wishing you were elsewhere, bring a little something different into your everyday. Listen to calypso music on headphones or drink a nonalcoholic frozen pineapple beverage with your lunch. Even get an iced coffee instead of hot coffee. Walk a different way to work. One thing a vacation does is break up the everyday routine and give you a change of scenery – you can do this on a small scale. Let something in your day feel a little different to make the summertime special, even within your office walls.Bring the outdoors inSimilarly, if you are yearning to go outdoors in the sun, bring some nature into your office space. Listen to some ocean waves. Buy yourself a plant or some flowers for your desk. Look at pictures of nature or places you want to go. Spending a weekend on the beach can be restorative, but simply looking at nature can also actually make you calmer.Acknowledging your desire to be elsewhere will help you be more productive then trying to ignore it. Tapping into the small things that can help keep you motivated and help break up the rut will help you get through those long summer days.

Intro to Disasters (Case) Essay Example | Topics and Well Written Essays - 750 words

Intro to Disasters (Case) - Essay Example The tsunamis in both places are of the same cause and measure, but the amount of destruction is different due to the kind of preparedness made to hurdle an almost insurmountable event. Comparison Between the Two Tsunami Events The event in December 26, 2004 has surely dominated all media outlets during that time. A horrid image of the vengeful waters was depicted around the areas of the Indian Ocean, specifically the ten nations to experience the tsunami. The said tsunami disaster claimed more than 280,000 lives, and leaves 1 million people homeless (Morrow & Llewellyn, 2006). Ten nations were affected but it was Sumatra and Indonesia who were whipped tremendously killing about 178,000 of its citizens, almost half of the entire death toll (Morin, DeCoster, Paris & Lavigne, 2008). Resources of the nations affected were depleted and drastically changed the economic flow at that time. Life became harder on the poorest regions of South Asia and Indonesia since fishing is one of the main sources of income. Furthermore, Morrow and Llewellyn (2006) informed that â€Å"the earthquakes and tsunamis severely damaged medical facilities and killed much of the female labor force.† Thirteen years before the Dec. ... Shuto (2006) focused on Aonae, a place in Hokkaido, Japan where the tsunami literally â€Å"washed away housing on the seaside of the road† (p. 45). Like the ones in Dec. 26, the fishing industry of Hokkaido was greatly affected; the government has to do tremendous reconstruction of the fishing villages. Impact of the Tsunamis Morin, De Coster, Paris & Lavigne (2008) stated that the tsunamis impact may be â€Å"technological, economic, behavioral, social or cultural in nature.† Especially to the nature of the economy, countries would differ in the approach of the two tsunamis which occurred in Hokkaido and the Indian Ocean. Japan has generally all the essential warning signals to prevent further casualties in such events. However, much of the Hokkaido residents and properties were affected because there was a 5-minute delay of the relaying of the tsunami warning (Edward, Terazaki & Yamaguchi, 2006). Prevention Damages may have been prevented or decreased if proper disas ter management and prevention was applied beforehand. According to Perry (2007), vulnerable areas are the ones who should have the at least above average knowledge about disaster preventions. Cooperation of the non-government offices, the government, and most especially the local residents is a vital factor of conceptualizing successful precautionary measures. NGO’s are particularly essential after the occurrence of a natural disaster where most victims are mentally, physically, and emotionally exhausted. In the December 26 event, early warning systems may have been helpful in saving more lives, but one essential factor could also be education. As what Bird and Lubkowski (2005) denote, â€Å"early

Importance of Effective Communication Essay Example | Topics and Well Written Essays - 1000 words

Importance of Effective Communication - Essay Example Effective communication is important for a successful relationship among peers. Effective communication leads to a better interpersonal role and through this approach a person can gain popularity and will be able to motivate or influence other people. How can the quality of communication be judged This is rather simple if we take the written modules in consideration. That is how well the author has related the matter to the subject. In the verbal context it is a bit different. Having a strong vocabulary is just not enough for becoming a good communicator as while delivering a message directly words are just about 7% effective, the tone is around 38% effective and the rest is judged by the nonverbal cues given by the speaker. This is why a gloomy dialogue expressed by a charismatic personality is of more importance as compared to a strong statement made in an in-effective tone. Strengths regarding communication in my context are that I am easy going and fain familiarity with other ind ividuals quite quickly as I am more affable. My strengths are that I can easily manage groups due to my understanding and simple use of language. My point is based on cogency as I prefer no hesitation in delivering my point of view and another important point about good communication is that let the speaker finish and then cite your view. This also improves upon communication prospect and the person utilizing this is considered a good communicator. Nonverbal communication The other fact that can be related to better communication is the ability to handle the kinesics and the non-verbal cues. Non-verbal cues include eye contact, body movement and postures, and most of all the tone of delivery. I believe that good eye-contact entails one as being a better communicator and it is vital if delivering strong messages and in-person contact. Keeping a measurable distance from the interacting person is a good approach and it is regarded as a good conduct in many cultures. But one is not to s tand too far as it shows the avoidance factor. People like to free up space in between themselves and the present environment so that they can produce their messages more effectively and easily. My case is that I am able to convey my message without the need of personal space. The personal space does not influence my mode of message delivery. Dynamic Non-verbal factors of Communication Next I would like to introduce the dynamic non-verbal factors. These include eye graze, body movement with regard to the statement, gestures, paralanguage and time frame. What I mean by body movement with regard to the statements is the point that your body should act in accordance with your message delivery. If you are delivering a message regarding something that has increased then the arm movement should (if required) should be 'raising the level'. Similarly eye contact is of prime importance and the ability to understand this feature is also of much substance. This can lead to the avoidance of man y undesirable consequences. Message Delivery I think that denying someone's message is a wrong act as we should try to convince him in such a way that he himself identifies the consequence. Saying 'NO' is something that is regarded as bad in the context of effective communication.

The Kuwait-Iraq War Research Paper Example | Topics and Well Written Essays - 2000 words

The Kuwait-Iraq War - Research Paper Example The reasons which have gained worldwide acceptance are highlighted and scrutinized in this paper along with the horrifying socioeconomic and public harms sustained by Kuwait during and after the war. The discussion on this Iraqi invasion also revolves around the incredibly disparaging consequences Kuwait had to bear and the massive costs it paid as a result of this vicious war. The war did not die away on its own after some months, rather many countries had to step in this critical issue that was rapidly getting out of control. Some of those countries, the peaceful roles they played, and the facilitating measures taken by them to reestablish the Kuwaiti public also form a part of the discussion presented in this paper. 2. Introduction: The Kuwait-Iraq war has been the biggest conflict between Iraq and Kuwait yet and was based on a seven month long period that resulted in the loss of many lives and gigantic economic crisis. The Iraqi occupation on Kuwait ignited worldwide condemnation due to which Iraq had to face much resistance in making Kuwait one of its own states. Clear disapproval and fury was shown by all countries for Iraq and immediate removal of Iraqi forces was demanded. (China-embassy.org, 2004). This brutal invasion was followed by military intervention by United States. Otherwise, there seemed to be no end to the Iraqi invasion which acquired complete control over Kuwait forcing the Kuwaiti forces to run away and find refuge in other countries. The relentless actions of Iraq on one hand, and the â€Å"brief and feeble resistance† displayed by Kuwait’s own forces made Kuwait all the more vulnerable, which led to increased ruthlessness practiced by the Iraqi forces. (Worldology, 2009). Initially, Iraq made an allegation on Kuwait that it was illegally stealing the Iraqi oil reserves through slant drilling so that it could invade Kuwait. (Patterson, 2010). Then, rumors came up that Iraq suddenly took the decision to invade Kuwait because it had no other hope for paying the loan it had previously taken for financing war with Iran. Kuwait is blessed with over-productivity of oil and this proved to be an enchanting delight for Iraq, which already needed some relief from the huge loan. (Kelly, 2011). Within a few days of the attack, Iraq declared Kuwait to be one of its provinces thus taking advantage of the weak defense by Kuwait. 3. Economic and geographical causes of the Kuwait-Iraq war: Conflict over the financial debt of Iraq: Iraq was under severe pressure of the huge loan it had to return, which was taken for financing the too long war with Iran. Too much money and resources had been wasted by Iraq to continue the war, so taking loan became an essential step. The Iraqi president, Hussein, had become too isolated politically and economically after war with Iran. (Simon & Harak, n.d.) mention that â€Å"He (Hussein) was some 60 billion dollars in debt from the war, and the West had cut off his credits after he ha d a British reporter executed as a spy.† This loan became a major hurdle in the path of progress later, due to which Iraq raised oil prices in order to repay the massive debts. In response to this strategy, Kuwait vigorously took steps that ensured over-productivity

Memo assignment Example | Topics and Well Written Essays - 250 words

Memo - Assignment Example In an economy that is suffering from economic crisis, austerity is not an option for the managers of that economy. However, even as austerity is chosen as a way to bring the economy back to its feet, it must be considered that that some aspects of austerity may actually lead to more dangerous outcomes for the economy. This is what Bank of Spain Governor Luis Linde is arguing in his speech to the parliament is trying to explain (Jonathan, 2012). If for instance, the government reduces pension to pensioners, the ripple effect in the economy would be increased inflation and decreased market confidence by both local and foreign investors. For this reason, it is increasingly important that the government know exactly what to do in order to avoid making a bad situating even worse. Linde argued that for budget for the coming year will have to be optimistic as this is the only way to recreate confidence. This is true, considering that what the economy is looking for in investor confidence to allow increased economic growth. Jonathan, House. Spain Central Bank Chief Warns on Budget Targets . 04 October 2012. 08 October 2012

Questions Essay Example | Topics and Well Written Essays - 750 words

Questions - Essay Example QUESTION TWO In his poem, ‘Puerto Rican obituary,’ Pedro Pietri urges the New York Puerto Rican community to switch to their own imaginations instead of turning to the televisions that are only filled with American influence. As reflected from the tone in the twenty third stanzas, the author makes several suggestions to the New York Puerto Ricans. He argues that the Puerto Ricans should solely rely on Latina souls as the sole religious background for their race, and not on the bibles. The New York Puerto Ricans ought to have learnt from the manner in which their fellow citizens were buried shamefully; â€Å"without underwear’s† as he claims. Pedro concludes his poem by stating that, living the Puerto Rican mode of life; where beautiful people work, sing and dance together is way much better. The weather conditions are favorable and they do a need a dictionary to communicate to each other. QUESTION THREE Most Puerto Ricans in the poem went to America with dr eams of living a luxurious life, and earning hefty pay, only to end up as well trained janitors who were laughed at. Those from the island spent their last days working as porters, maids, factory workers, stock and shipping clerks, messenger boys, and mailroom assistants. They only ended up in their island cemetery after all the hard work. The situation is no different from the case in ‘Chango fire’ by Quinonez. ... The seller gave her instructions on how to perform a ritual as she was supplied with the required items. Despite her attack by some boys in the park she was able to get home and perform her ritual. The ritual revealed that she should go back to Santeria with her mother. Lourdes also some magical encounters; as she was an auxiliary policeman she would encounters her father’s spirit on a regular basis. Felicia suffers physical abuse from her husband Hugo Villaverde. Hugo constantly vanishes from her life; he later on infects her with syphilis. Felicia attempts to kill him in his sleep by dropping a torched rag on his face; Hugo decides to disappear completely. At an early age Felicia befriended the high priest daughter; Herminia Delgado. She helps guide Felicia into their religion. Felicia constantly descends into madness: During her second pregnancy, after the death of Ernestro, of which she had to leave Santeria. She did not know her identity and she suffered memory lose for m onths. After the death of her third husband, Felicia returned to Santeria and embraces priesthood. QUESTION FIVE In relation to revolutionary affiliations; Celia portrays an unwavering support for El Lider and the revolution. She uses her role as the Santeria judge in the peoples court, to suppress creative work. She only gathers support from her son Javier. Her perception distances her from Lourdes, Felicia and Pillar of whom she was close to. Lourdes is also distant from her own daughter Pillar due to her anxiety for the pro U.S. patriotism. However Lourdes defends her daughter when she painted a punk statue of liberty for those that were not veiling. The impact of this political division was so significant that

The Ethical Issues with Illegal Immigration in the U.S Research Paper

The Ethical Issues with Illegal Immigration in the U.S - Research Paper Example Amnesty would offer millions of immigrants a chance to seek their provisions. Forgiving their crime of coming here illegally can be beneficial as it can certainly restore the law. Providing illegal immigrants with amnesty would not necessarily be a self-burden to society. John Kerry brilliantly states his opinion as he states, "Absolutely. I supported and was prepared to vote for amnesty from 1986. And it is essential to have immigration reform. Anyone who has been in this country for five or six years, who's paid their taxes, who has stayed out of trouble, ought to be able to translate into an American citizenship immediately, not waiting."   Instead, it would give these individuals a chance to prove themselves in a competitive work environment. The true version of living the American dream can certainly become a reality for these individuals. Moreover, one cannot refute the fact that this country was based upon the foundation of immigrants coming from different spheres of the wor ld. America has been known as the â€Å"melting pot† of assimilation of cultures and has given new opportunities to immigrants throughout history. Another key reason why it is logical to legalize illegal immigrants is due to the fact that these immigrants are hard-working individuals striving to seek provisions for themselves and their families. Millions of these illegal immigrants are undoubtedly employed currently throughout the nation. Rounding and deporting these immigrants is clearly illogical as it is not feasible. John McCain in his 2005 speech clearly states, â€Å"It would be impossible to identify and round up all 10 to 11 million of the current undocumented, and if we did, it would ground our nation's economy to a halt.

Questions Essay Example | Topics and Well Written Essays - 750 words

Questions - Essay Example QUESTION TWO In his poem, ‘Puerto Rican obituary,’ Pedro Pietri urges the New York Puerto Rican community to switch to their own imaginations instead of turning to the televisions that are only filled with American influence. As reflected from the tone in the twenty third stanzas, the author makes several suggestions to the New York Puerto Ricans. He argues that the Puerto Ricans should solely rely on Latina souls as the sole religious background for their race, and not on the bibles. The New York Puerto Ricans ought to have learnt from the manner in which their fellow citizens were buried shamefully; â€Å"without underwear’s† as he claims. Pedro concludes his poem by stating that, living the Puerto Rican mode of life; where beautiful people work, sing and dance together is way much better. The weather conditions are favorable and they do a need a dictionary to communicate to each other. QUESTION THREE Most Puerto Ricans in the poem went to America with dr eams of living a luxurious life, and earning hefty pay, only to end up as well trained janitors who were laughed at. Those from the island spent their last days working as porters, maids, factory workers, stock and shipping clerks, messenger boys, and mailroom assistants. They only ended up in their island cemetery after all the hard work. The situation is no different from the case in ‘Chango fire’ by Quinonez. ... The seller gave her instructions on how to perform a ritual as she was supplied with the required items. Despite her attack by some boys in the park she was able to get home and perform her ritual. The ritual revealed that she should go back to Santeria with her mother. Lourdes also some magical encounters; as she was an auxiliary policeman she would encounters her father’s spirit on a regular basis. Felicia suffers physical abuse from her husband Hugo Villaverde. Hugo constantly vanishes from her life; he later on infects her with syphilis. Felicia attempts to kill him in his sleep by dropping a torched rag on his face; Hugo decides to disappear completely. At an early age Felicia befriended the high priest daughter; Herminia Delgado. She helps guide Felicia into their religion. Felicia constantly descends into madness: During her second pregnancy, after the death of Ernestro, of which she had to leave Santeria. She did not know her identity and she suffered memory lose for m onths. After the death of her third husband, Felicia returned to Santeria and embraces priesthood. QUESTION FIVE In relation to revolutionary affiliations; Celia portrays an unwavering support for El Lider and the revolution. She uses her role as the Santeria judge in the peoples court, to suppress creative work. She only gathers support from her son Javier. Her perception distances her from Lourdes, Felicia and Pillar of whom she was close to. Lourdes is also distant from her own daughter Pillar due to her anxiety for the pro U.S. patriotism. However Lourdes defends her daughter when she painted a punk statue of liberty for those that were not veiling. The impact of this political division was so significant that

Evaluation of natural composit materials in structures Essay

Evaluation of natural composit materials in structures - Essay Example 331). In relation to structures, natural composite materials have been employed in the formation of load-bearing elements. These include roofs, beams, multipurpose panels, pedestrian bridges and water tanks. Beams are vital components in bridges, buildings and other structures. In fact, beams are considered to be structural elements that are in flexural mode or bending. They may have rectangular or square cross section depending on the requirements of a structure or even the design. Beams are commonly made of reinforced concrete, timber, laminated veneer lumber or steel profiles. Research shows that recent developments of using natural composite beams lead to possible weight, cost, time and installation advantages. There is therefore an opportunity for the use of natural composites in the construction of structural beams. This opportunity can be also explored in construction of pedestrian bridge girders because they demand moderate design loads. The use of natural composite materials in beam construction is necessitated by the low cost and densities of natural fibres and their environmental benefits. Among the feasible concepts of natural composites is the composite sandwich beam. The composite sandwich beam incorporates the use of several layers of materials. More often than not, the same material is utilised for the slim bottom and top section and the compact core material located in between. The core is of lesser strength as compared to the material utilized for the bottom and top. Dweib et al. (2004, p. 150-151) have analysed and formulated sandwich beams which constitute cellulose fibres that are made from paper that is reused, foam core and Acrylated Epoxidized Soy-bean Oil (AESO) which has added strength. An I-shaped beam was another idea that was derived from the natural composite beam. Using the Vacuum Assisted Resin Transfer Molding technique, soybean oil based resin system and woven burlap (jute fabric) composite has been utilized in a successful man ner to produce an I-shaped beam (Alms, Yonko, McDowell and Advani, 2009, 83). According to Marsh (2000, p. 57), the primary design methods that are normally utilized in structural design are tensile stiffness, bending stiffness, bending strength and tensile strength [36]. For some applications like roof however, impact strength is as well crucial. For polyester which is strengthened by glass fibre to be utilized as roof materials it has to demonstrate a tensile strength that is not less than 50 MPa and have no hole or crazing or cracking visible after being tested. It also has to demonstrate SREC2010-F1-5 4 impact resistance of 1.96 J in Australian standard. Roof material needs to be designed in a manner that it supports all types of loads whether it is live load, dead load and at other instances snow load. Other features of the material are; it should be water resistant, lightweight, weather resistant (for instance ultraviolet light resistant) and fire resistant. Coming second to e lectricity, the roofing sector is the second largest user of glass fibre in the construction and building sector in Europe. In third rank, in terms of percentage, is the utilization of glass fibre for industrial infrastructure which includes tanks, pipes and corrosion

Analysis of BAELL II Recommendations

Analysis of BAELL II Recommendations CHAPTER 1: INTRODUCTION 1.1. Introduction Operational risk is defined as â€Å"the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events.† Financial markets in the last two decades have been highlighted by large-scale financial failures due to incompetence and fraud, such as Barings, Daiwa, Allied Irish Banks, Orange County, Enron, along with man-made and natural disasters, such as â€Å"9/11,† Hurricanes Andrew and Katrina. As a consequence, operational risk has been acknowledged to overweigh the importance of credit and market risks. Since 2001, the Basel Committee for the Banking Supervision of the Bank of International Settlements has been requiring banks to set aside regulatory capital amount that would cover potential operational loss. The capital amount must be evaluated on a one-year aggregated basis at a sufficiently high confidence level. Statistical tools are required to accurately assess the frequency and severity distributions. The presence of so-called â€Å"low frequency/ high severity† events poses problems for the modeling of operational risk and calls for models capable of capturing excessive heavy-tailedness in the data. Operational risk is one of the important arms of the risk management triangle the other two being Credit Risk and Market (Treasury) Risk. Any organization, particularly in the banking sector, is squarely exposed to operational risks emanating within or outside the organization. Risk Management Triangle Credit Risk Market (Treasury) Risk. Operational risk Operational risk capital charge is a mandatory requirement in global banking sector. This puts in a lot of stress and strain on a banks management. Operational Risk is also known as Transaction Risk in some countries. In order to efficiently face this new challenge of operational risk in risk management, the prerequisites for efficiently facing the operational risk are enumerated as follows : Ø creation of risk culture ; Ø enterprise wide operational ; Ø risk awareness. Proactive steps at all the levels of operation should operate as a safety valve and in the process, may in turn facilitate lower risk capital charge. 1.2. Background Risk mapping is often mentioned both in describing various approaches to operational risk management and, in an audit context, in formulating the key steps to control self-assessment, as the cornerstone of the risk identification process. Yet there is little published guidance on how to perform it effectively and on how to ensure that the resulting map is indeed complete and consistent. In other words, although the term is widely used by bankers, auditors, regulators and consultants alike, and although all these professionals  may even agree on what constitutes an acceptable final product, they will most likely give widely different explanations on how to get such product, the resources needed and the costs involved. Risk mapping is difficult for a number of reasons, all of which can be summarized by reminding ourselves that ‘the map is not the territory. No matter how accurate and thorough our analysis is, what really goes on in the business is never exactly what is written in the manual. Here are just a few of the key dimensions: People: Processes are affected by people, and people, no matter how formalized the process is, adapt, interpret and improvise in response to circumstances. Specialization: Very few people really understand a specific business process and its interactions with other people and systems within the bank. When one of these people leaves or is just absent for a while, the potential for an operational failure appears. Processes: Processes change all the time and any mapping becomes obsolete almost overnight after being completed. In this research, I describe a methodology for the mapping of operational risk with the objective of identifying the risks inherent in the different steps of a business process, selecting the key risk indicators (KRIs) (Hoffman, 2002; Davis and Haubenstock, 2002) and designing the most appropriate control activities. In my approach, therefore, risk mapping is the basis for all the key components of operational risk management identification, assessment, monitoring/reporting and control/mitigation as defined by the Basel Committee on Banking Supervision (2003). There is more than one way to map risks. The most common technique is probably the mapping on a probability/severity chart (Figure 1) so as to identify the key priorities for management. The result in most cases helps to distinguish between high severity/low frequency and high frequency/ low severity losses, but which in general gives no indication as to what management actions to take in order to change the existing risk profile. Another way is to map the risks to the phases of a business activity where they can occur and identify the key risk factors and drivers in the process. This leads to a somewhat more complex result, rich in qualitative information rather than in quantitative assessment, but giving very clear indications as to which parts of the process should be changed in order to make a difference to the overall risk exposure. It also allows for the identification of the KRIs that are more relevant to each risk exposure. Pursuing the application of KRIs to operational risk assessment is suggested by the need to capture the various issues we find with purely statistical approaches as well as the impact that managerial decisions may have on the operational risk profile. In market and credit risk measurement, the key managerial decisions are taken in deciding portfolio composition, thereby affecting the resulting risk profile directly and in a manner that measurement models have no problem in capturing. In operational risk measurement, on the other hand, managerial decisions may affect the risk profile in a number of different ways (through changes in control procedures, systems, personnel, to name but a few), none of which any measurement model can capture in a simple and direct way. Statistical approaches in particular will be at a loss in taking into account such changes, as historical data will reflect a risk and control environment which by and large no longer exists. The requirement of the new Bas el Accord (Basel Committee on Banking Supervision, 2004) to base risk assessment on 5 years of historical data if taken too literally will have banks generating risk capital charges on the basis of information largely unrelated to the current and, even less, the future risk and control environment. 1.3. Research Question: This work to start with will take a step back and ask the fundamental question of why do banks fail? Further the work shall research the recommendations of BASEL II and will try to seek the answer for: Will the BASEL II requirements make the systematic goals of safety and stability more achievable for banks/FIs? If yes, how? If no, how? 1.4. Motivation: Appropriate â€Å"Organizational structure† is a precondition for orderly management of any activity/ group working within the purview of organizational capabilities. Operational risk management is all pervasive in terms of activities of an organization e.g. if ‘people factor in operational management is poorly managed in a bank, other activities of the bank e.g. credit/market risk management, are likely to suffer . Similarly, legal aspects of any transaction/ function, if loosely dealt with, increases the likelihood of loss to the organization. Organizational structure for operational risk management needs to be compact and broad-based. The structure must be compatible with :- an organizations size; complexity of operations and area of operations; in tune with its risk appetite. The area of operational risk management is a matter of discretion which comes under the purview of regulatory authorities/banks. Through my research I have tried out to make out a clear and concise understanding of BASEL II accord for Banks/FIs in operational risk perspective. The work shall also try to suggest the suitable customization of BASEL II recommendations and implications of the same for effectively managing operational risk. It may also lead to forecasting the emerging trends in operational risk and ways to mitigate the same. 1.5. Chapter Scheme The chapter scheme of my dissertation is as follows: Chapter 2: This chapter describes the literature review and the findings. Chapter 3: This chapter describes research methodology and some of the variables included in empirical analysis. Chapter 4: This chapter provides the basis of qualitative research. Chapter 5: This chapter gives details of case studies analyzed for research purpose. Chapter 6: This chapter discuses the analysis and the findings. Chapter 7: This chapter includes the conclusion. CHAPTER 2: LITERATURE REVIEW 2.1. Introduction Until very recently, it has been believed that banks are exposed to two main risks. In the order of importance they are credit risk (i.e., counterparty failure risk) and market risk (i.e., risk of loss due to changes in market indicators, such as equity prices, interest rates and exchange rates). Operational risk has been regarded as a mere part of â€Å"other† risks. Operational risk is not a new concept for banks: operational losses have been reflected in banks balance sheets for many decades. They occur in the banking industry every day. Operational risk affects the soundness and operating efficiency of all banking activities and all business units. We begin our discussion with an explanation of the notion of risk. 2.2. Risk and Risk Management In the financial context, risk is the fundamental element that affects financial behavior. There is no unique or uniform definition of risk: different financial institutions may define risk slightly differently, depending on the specifics of their banking structure, operations and investment strategies. The definition of risk also depends on the context. In the economics literature, generally risk is not necessarily a negative concept, and is understood as uncertainty about future or the dispersion of actual from expected results. In the context of business investment, risk is the volatility of expected future cash-flows (measured, for example, by the standard deviation), and in the context of the Capital Asset Pricing Model (CAPM) is the risk of asset price volatility due to market-related factors and is captured by ÃŽ ². Such definitions do not exclude the possibility of positive outcomes. Hence, for the operational risk we need a different definition.[1] For the purposes of operational risk modeling and analysis, the definitions from insurance are more appropriate, as the notion of risk in insurance has a negative meaning attached to it. Risk is perceived as the probability and impact of a negative deviation, the probability or potential of sustaining a loss, â€Å"a condition in which there is a possibility of an adverse deviation from a desired outcome that is expected or hoped for† [2], or â€Å"an expression of the danger that the effective future outcome will deviate from the expected or planned outcome in a negative way† [3]. As the next step, we need to distinguish operational risk from other categories of financial risk. A comprehensive framework of risk management is applicable equally to all types of bank (Iqbal and Mirakhor, 2007). The process of risk management is a two (2) step process. The first is to identify the source of the risk, i.e. to identify the leading variables causing the risk. The second is to devise methods to quantify the risk using mathematical models, in order to understand the risk profile of the instrument. Once a general framework of risk identification and management is developed, the techniques can be applied to different situations, products, instruments and institutions. It is crucial for all banks to have comprehensive risk management framework as there is growing realization among IBs that sustainable growth critically depends on the development of a comprehensive risk management framework (Greuning and Iqbal, 2007). A robust risk management framework can help banks to reduce their exposure to risks, and enhance their ability to compete in the market (Iqbal and Mirakhor, 2007). A reduction in each institutions exposure will reduce the systemic risk as well. Hence, it is necessary that banks have in place a comprehensive risk management and reporting process to identify, measure, monitor, manage, report and control different categories of risks. 2.2.1. Understanding Risk and Risk Management It is important for staff of banking institutions to understand the aspect of risk in the banking operations and the risks that are inherent and exposed in their business operations. Better understanding of risk management is also necessary especially in the financial intermediation activities where managing risk is one of the important activities. A study conducted by Boston Consulting Group (2001) found that the sole determining success factors is not the technical development but the ability to understand risk strategically and also the ability to handle and control risk organizationally. Secondly, in order to realize a risk based management philosophy, the attitude and mindset of the employees need to be changed whereby they must be brought to understand that managing risk is crucial for success. This implies that there must be intensive training, clearly defined structures and responsibilities, as well as commitment to change. In addition, it was identified that banks in North A merica and Australia concentrate on risk management primarily to enhance their competitive positions. Meanwhile in Europe, Asia and particularly in South America, risk management is considered primary from the perspective of regulatory requirements. Then, Al-Tamimi and Al-Mazrooei (2007) found that the UAE banks staff have good understanding of risk and risk management, which might give an indication about the ability of these banks to manage risks efficiently in the future. Moreover, understanding risk and risk management had positive effect on risk management practice although it is insignificant. 2.2.2. Requirement for Risk Management Risk management framework is important for banks. The risk management strategy must be integrated with its overall corporate strategies (e.g. Froot and Stein, 2004). In conjunction with the underlying frameworks, basic risk management process that is generally accepted is the practice of identifying, analysing, measuring, and defining the desired risk level through risk control and risk transfer. BCBS (2001) defines financial risk management as a sequence of four (4) processes: (1) the identification of events into one or more broad categories of market, credit, operational and other risks into specific sub-categories; (2) the assessment of risks using data and risk model; (3) the monitoring and reporting of the risk assessments on a timely basis; and (4) the control of these risks by senior management. BCBS (2006), on risk management processes, require supervisors to be satisfied that the banks and their banking groups have in place a comprehensive risk management process. This woul d include the Board and senior management to identify, evaluate, monitor and control or mitigate all material risks and to assess their overall capital adequacy in relation to their risk profile. In addition, as suggested by Al-Tamimi (2002), in managing risk, commercial banks can follow comprehensive risk management process which includes eight (8) steps: exposure identification; data gathering and risk quantification; management objectives; product and control guidelines; risk management evaluation; strategy development; implementation; and performance evaluation (e.g. Baldoni, 2008; and Harrington and Niehaus, 2009). 2.2.3. Risk Identification There are few conceptual studies on risk identification of financial institutions (e.g. Kromschroder and Luck, 2008; Luck 2008;; Pausenberger and Nassauer, 2000; Tchankova, 2002; Barton et al. 2002 ) and few empirical studies that include risk identification of banks (e.g. Al-Tamimi, 2002; Al-Tamimi and Al-Mazrooei, 2007). Risk identification is the first stage of risk management (Tchankova, 2002) and a very important step in risk management (Al-Tamimi and Al-Mazrooei, 2007). The first task of the risk management is to classify the corporate risks according to their different types (Pausenberger and Nassauer, 2000). The first step in organizing the implementation of the risk management function is to establish the crucial observation areas inside and outside the corporation (Kromschroder and Luck, 2008). Then, the departments and the employees must be assigned with responsibilities to identify specific risks. For instance, interest rate risks or foreign exchange risks are the main do main of the financial department. It is important to ensure that the risk management function is established throughout the whole corporation; i.e. apart from parent company, the subsidiaries too have to identify risks, analyze risks and so on. Pausenberger and Nassauer (2000) also state that it is advisable for most corporations to implement early warning systems. An early warning system is a special information system enabling the management board to identify risks in time by observing the development of defined indicators (Luck, 2008). Other instruments that could be used to identify risks are checklists of possible disturbances or breakdowns, risk workshops, examination of corporate processes, internal inspections and interviews, loss balance, etc. It is advisable to make use of the knowledge and skill of external experts, for instance, forecasts of banks about the development of interest rates or foreign exchange rates. There are many other approaches for risk identification, for instance, scenario analysis or risk mapping. An organization can identify the frequency and severity of the risks through risk mapping which could assist the organization to stay away from high frequency and low severity risks and instead focu s more on the low frequency and high severity risk. Risk identification process includes risk-ranking components where these ranking are usually based on impact, severity or dollar effects (Barton et al. 2002). According to him, the analysis helps to sort risk according to their importance and assists the management to develop risk management strategy to allocate resources efficiently. 2.3. Operational Risk Operational Risk is one of the important arms of the risk management triangle -the other two being Credit Risk and Market (Treasury) Risk. Any organization, particularly in the banking sector, is squarely exposed to operational risks emanating within or outside the organization (Levine and Hoffman, 2004). There was no precise definition of operational risk until Basel Accord II came into being in June 2004. Furthermore, for the first time in the history of global banking, operational in capital charge has been made a mandatory requirement in banking. This certainly puts in a lot of stress and strain on a banks management. Operational Risk is also known as Transaction Risk in some countries in order to efficiently face this new challenge in risk management, the prerequisites are -creation of risk culture and enterprise wide operational risk awareness. Proactive steps at all the levels of operation will operate as a safety value and in the process, may facilitate lower risk capital charge (Bagchi, 2006). As it has been mentioned that until the release of Basel Accord II in June 2004, there was no universal definition of operational risk in banking (Anna et al., 2007) . It was generally believed that as ‘risk would mean loss in any event or transaction, any risk other than credit risk and market risk would have to be reckoned as an operational risk, without the need of creating any separate identity for such risk. However this way of looking at operational risks is dangerously vague. Prof Hans Geiger, an international authority on risk management, has viewed operational risk from a direct angle and an indirect angle as under: Indirect Angle: â€Å"Operational risks are all those risks which cannot e classified as credit risk or market risk.† Direct Angle: â€Å"Operational risk is an expression of the danger of unexpected direct or indirect losses resulting from inadequate or failed internal processes, people and systems and from external events.† Basel Accord II has laid down the following definition for adoption by the countries and hence this should be treated as a standard definition of operational risk: Operational risk is â€Å"the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. This definition includes legal risk but excludes strategic and reputation risk.† (Bagchi, 2006) 2.3.1. Reasons for Increasing Focus on Operational Risk Management * On going spate ( sudden trend flow) of financial deregulation procedures due to globalization. * Influence of technology and automation in managing business with other side effects. * Complex organizational structures arising out of re organization of business enterprises (e.g. merger/ de -merger etc.). * Opportunities for business process outsourcing. * Growing complexity of products/services, as banks now provide total business services and employ CRM (Customer Relationship Management) in their business activities. * With liberalization and globalization, banks compete very hard with each other for business. * Capital allocation for operational risks is a prime requisite for todays business organizations. 2.3.3. Operational Risk Vs Operations Risk Operational Risk has a wider coverage wherein process, people, systems etc. of an organization are also considered. In general while operational risk is analogous to operations risk, in the context of risk management, they are not alike as will be evident from the following table: Table 1: Distinction between Operational Risk and Operations Risk According to the â€Å"Kenneth Swensen of Federal Reserve Bank of Chicago†, there is a clear demarcation between operational risk and operations risk, from the viewpoint of relative risk contents. Operational risk should deserve special attention for an organization so that its procedures become fully Basel Accord II compliant. He remark regarding Basel II is , â€Å"†¦Ã¢â‚¬ ¦ under Basel II, if you are not moving forward, you are losing ground†. The distinctions are clearly mentioned below : Operational Risk Operations Risk 1. Operational Risk encompasses enterprise wide risk of loss arising out of inadequate, failed internal processes, people system or from external events. 1. Operations Risk encompasses risk by loss arising out of back office reconciling processes and does not generally cover front office functions. 2. Integrated risk management is the watch dog of such risk management function in the organization 2. Internal audit Department usually manages such risks. It is the first line of defense. 3. Basel Accord II specifies capital charge computation based on three approaches evolved for the purpose. 3. There is no requirement for any specific capital charge. 4. The organization must prepare and periodically update on operational risk policy mentioning, and should frame a computation method of measurement of operational risk capital. 4. There is no need for any specific policy document since each organization is guided by its manual/ book of instruction. 5. Regulatory Authority under pillar II has the responsibilities to review enterprise wide operational risk management of the organization. 5. Regulatory Authorities do not have any Pillar II responsibility. They may review operation risk as an ingredient of operational risk. 6. Corporate Governance study must take into account operational risk management of an organization especially the effect of any human error/skill deficiency aspects. 6. Corporate Governance angle does no form part of operations risk. 2.3.4. Distinction between Operational Risk and Operational Crisis Operational risk is an all inclusive concept covering :- Ø intra -organizational ( internal ) risks such as those related to people, processes and systems; Ø external events such as natural calamities, terrorism etc. In case of extreme external events such as natural catastrophes, there is no real distinction between operational risk and operations risk since such an event requires crisis management initiative. But a routine operational risk management dose requires operational crisis management to avert serious consequences. The points of distinction are enumerated as under: Operational Risk Operational Crisis 1. Operational Risk includes elements of Expected and unexpected (expected loss such as loss in process errors of say 0.1% of gross income). 1. Operational Crises covers only unexpected loss. 2. The continuity of business is not affected if some operational risk events do not have serious implications on organizations position (say, internal fraud of 0.1% of annual net profit). 2. An organizations continuity may be seriously affected if the crisis event is catastrophic. 3. Operational risk management dose not generally imply disaster recovery. 3. Operational crisis management generally involves disaster recovery. 4. Operational risk factors do not generally trigger off reputational risk (a minor processing error in a customers savings account may not effect the banks reputation). 4. Crisis event may sometimes (e.g. product failure, contamination etc., Union Carbide Gas leak incident in MP) triggers off reputational risk leading to fall in market share, equity share price etc. 5. Operational risk management in generally concerned with two phases: i. incident ii. recovery 5. Operational crisis management generally involves three phase; i. incident ii. recovery iii. continuity 6. Operational risk may not always turn out to be a danger. 6. Operational crisis is generally of a ‘moment of danger. 2.3.5. Effective way of managing Operational Risk Poor operational risk management, especially in the banking sector, may generate serious financial losses caused by Ø external/internal fraud, Ø system failure, Ø and other related operational lapses. Damage to a banks reputation, even if it is a private bank, may also be severe. Ø Effective operational risk management provides boosts sale by taking care of the following: Ø It tends to minimize severity or frequency of operational risk loses. Ø It creates a mechanism to optimize operational effectiveness throughout the bank. Ø Various business portfolios are better managed if the processes, systems and procedures are sound, together with people strength. Ø Strategic decision making by senior management is supported by a robust risk management system. Ø It ensures business continuity, as there are high probabilities of unexpected operational events owing to changing trends and globalization. Ø Capital allocation can be optimally utilized to the advantage of the bank. 2.3.6. Traditional Vs Modern Approach of Operational Risk Management Traditional Operational Risk Management Banks were managing operational risks in a traditional manner, going by the belief that such risks are really ‘residual risks that remain after the dominant risks of credit risk and market risk have been taken care of .Hence meager attention was extended to managing operational risks. Under the traditional approach, routine operational controls in banking were mainly through Ø internal checks, Ø balancing of ledgers, Ø careful recruiting process etc. Ø Audit and compliance aspects. Ø Insurance against risks was resorted to where necessary. Modern Operational Risk Management Operational risk management in banking took the shape of modern approach with the release of Basel Accord II ( recommendations on banking laws and regulations ) in June04. Modern approach of operational risk management aims at creating and maintaining an effective operational risk management strategy. This approach involves the following elements: Ø Realistic measurement framework on operational risk factors as against sole reliance on internal checks, auditors etc. Ø Operational risk losses calculated and summarized on the basis of past loss data and estimate for the future forms the core of strategic decision making especially for developing a new product or for encouraging a new technology. Ø Quantification of various operational risk factors facilitates optimal capital allocation. Ø Staff skill development exercise on an regular basis enables better output with lesser probability of errors and losses. 2.3.7. Operational Risk: A Challenge to Financial Institutions and Regulators Operational Risk exhibits more severity than Credit Risk, Market Risk Liquidity Risk. Global Association of Risk Professionals (GARP) has also undertaken a number of new initiatives to educate the organizations about the Operational risk. Operational Risk is capable of eroding the complete organization and can cause huge loss on the reliability factor of the financial company. As per GARP, Operational risk shall be the single largest risk facing the financial industry the world over by the year 2010. The most difficult part in managing operational risk is the fact that the threats and challenges can originate and spread at the speed of thought in operations of a Bank. The financial industry is growing all over the world in spite of the poor economic indicators forcing stricter regulations, policies and thus prompts greater awareness of the various challenges faced by financial industry. Operational risk ( especially for financial industry )should be placed at the highest level of attention in order to ensure smooth functioning of the organization as it can hamper the organizations future growth. Regulators formulating the policies and regulations for effective management of operational risk are faced by the following challenges :- Ø Ever changing requirements of policies. Ø Policies are expensive to start and implement at the workplace. Ø They also hamper the normal functioning of financial organization and requires trainings across all verticals. Ø Employee and customer participation is difficult to managed. 2.3.8. Operational Risk and Financial Organizations Advent of newer and convenient technology for various processes and tasks has made :- Ø our financial system has become more susceptible to attacks by hackers and viruses. The system needs to quarantined ( detained) for all possible leak holes and if found must be plugged immediately because of the following reasons :- Ø The financial system is the backbone of economy for any country or region. Ø It is the system that makes the economy grow and maintain its track. Ø It is of prime importance that the operational risk at this industry must be managed with utmost care. With increasing level of pilferage at the financial system,