Managment Essay Example | Topics and Well Written Essays - 2750 words

Managment - Essay Example The paper ends with drawing on general and specific lessons out of the case study for management today. The Issue mainly in concern is the importance of political instability in management decision making. Popular uprising Before starting this paper let’s have a look at the word popular uprising. Popular Uprising as defined by the free dictionary has got two meanings: Widely appealed 1. Revolt against a state authority or constituted government or its laws; a rebellion. 2. Act or any instance of rising or of rising up. While the reverso.net dictionary defines it as Popular: An act widely accepted or appealed Uprising: A revolt or a rebellion Introduction to popular uprisings in Middle East Between the late 2010 and the early 2011 a wave of many spontaneous revolts in Tunisia along with Egypt led to the downfall of local regimes. The foreign exporters and the investors in these countries are being affected by the ongoing events, including industrial action, supply chain disrupt ions, looting, and increased counterparty risk. Furthermore, the success of initial protests ignited new tensions across the Middle East and the North Africa (MENA), threatening the very stability of Bahrain, Iran, Jordan, Algeria, Libya and Yemen. Uprisings in Tunisia and Egypt The catalyst for uprisings in Egypt and Tunisia revolts was the suicide of, Mohamed Bouazizi, in the Tunisian town in December 2010; he set himself on fire to revolt against a decision by local authorities to seize his wares. Within few weeks’ demonstrations spread in whole country, as many Tunisians took to the street for protest against political repression and living conditions. Unrest in Egypt Overthrown President Hosni Mubarak’s regime in February led to an unprecedented uprising that was unable to stop. The aims of the revolt were to topple Ben Ali and replace his authoritarian reign with a multi-party democracy. General effects on economy and businesses The wave of recent uprisings that is sweeping across the Middle East along with the North Africa is set to have a major impact on the risks of doing businesses in such country. As political instability keeps on rising in these regions, companies around the world would need to prepare for thereafter knock on effects on the supply chains and business costs occurring across most sectors. This would in the short term cause political instability and economic breakdown in the affected countries which is likely to impact the supply chains around the world; and the textile companies in Europe and consumer goods producers from China and other Asian economies are the ones most vulnerable to these shocks. The careful monitoring of such political and economic trends, the alternative sourcing and the stockpiling are the strategies that can reduce the impacts of these disruptions. The longer term effects would include heightened political risk that could lead to deteriorating economic conditions and tighter access to credit, rais ing the payment risks for the companies that are dealing with MENA (other emerging markets). Adequate political and export risk insurance cover and safe trade terms, such as the documentary credit, will be essentials to mitigating counterparty risk. In the wake of the recent crisis in the MENA region, the lenders and insurance companies are likely to upwardly re price the risk premium that is attached to dealing with such

History of Contemporary Music Essay Example | Topics and Well Written Essays - 1000 words

History of Contemporary Music - Essay Example Just as other terms that confine the artistic vocabulary like neoclassicism and totalitarianism, this category is forming arguments and a spread of various approaches and clear distinction. Contradictory to the globalization explanations that talk about a new age of the post historical. This essay will consider the age of the post modern music as an aesthetic paradigm that is illustrated by a specific type of music and focused on one musician, Neil Young. This will show the deconstruction that these expressions are carried out in both the historical accounts and the concepts of pure music, which features in the modern music. Contemporary History of Music: Neil Young The history of contemporary music can be summed up as modernism, which was featured in the twentieth century between the years 1900 and 1950, which was followed by post modernism from 1960 till present. This is one of the many comprehensions of contemporary music and other deductions are simply possible. By the year 1970, the term rock and roll had become almost meaningless, because it saw the break up of the rock and roll groups like the Beatles and death of the king of rock, who was significant influences on the genre. However, this era saw the rise of an influential young musician, Neil Young. Young became one of the most soughted after musicians of that era. This is because he was a philosopher, as seen in his lyrics and thoughtful, when it came to singing and writing songs that were reflective. His lyrics were mostly deep and from the heart, and this made it difficult to understand. Young was also the only musician who could change from one style of music to another seamlessly. After Young had moved from the California folk rock band in 1968, he made a name for himself as one of the most influential and eccentric singer and songwriter of his generation. His only rank second to that Bob Dylan in terms of being deep, and was able to maintain his record sales and reputation, for a longer time than Bob Dylan. This was because of his on purpose, obstinate work ethic. From the start of his solo musical career, fro the late sixties through to the twenty first century, he did not stop recording, writing and performing, and kept numerous unreleased songs in his safe. As much as he was influential, he only had one hit song, titled Heart of Gold, from his number one album Harvest, in 1972. The song sounds like a claim for emancipation of all conquering love. The song was made for a hit, since he included Linda Ronstadt and James Taylor as back up singers. The song is still among the most requested at concerts, presently. The song has been performed five hundred and forty eight times, since its debut on 1/10/1971. Young went on to explore new territories and genres of music, from rock, blues to electronic music. However, these stylistic exercises only gained significance as compared to his two primary genres namely: country rock and gentle folk, and also loud electronic guitar rock t hat he regularly. He usually alternated from these two extreme genres, which both proved equally influential. There emerged various bands and individual artists who claimed that they were influenced by Neil Young. Regardless of his massive influence and catalogue, he went on exploring new music. His restlessness ensured that he was one of the few veterans of rock as vital in his old age, as he was in his early stages of life. Neil Young and the song Heart of Gold is mostly taught in

Welfare State Development in the UK

Welfare State Development in the UK Modern welfare state development is generally considered to lead to social security or benefits payments, social housing provision, health provision, social work and educational services. Together these services are known as the big five but these services tend to develop over time and have differed in quantity, availability and quality. Provision and development can change due to social, economic and political factors (Spicker, 1995, p. 3). State provision of welfare has a long history, in Britain for instance dating back to the Elizabethan Poor Laws and earlier. Welfare states started to develop when surveys of poverty by people such as Charles Booth showed the inadequacy of welfare provisions that could not deal with poverty particularly with increasing urbanisation and industrialisation (Thane, 1996, p. 7). The worldwide depression from 1929 would lead countries to consider further welfare developments. High unemployment (12% of the working population in Britain at its worst) showed that better welfare provision was needed (Robbins, 1994, p. 208). From such modest roots the public sector in Britain for example represents around 40 % of the economy (Simpson, 2005, p. 4). There are various key theories that seek to explain the processes involved in welfare state development that will be explained below. The theories have evolved or being devised to explain the differences and similarities in welfare state development in different countries at the same time or in a single country over a period of time. Theories agree that welfare states were developed to serve those that needed help the most or sometimes as universal services to all (OBrien and Penna, 1998, p. 2). After the main theories have been discussed the one or ones that are most applicable for evaluating contemporary changes will be outlined. There are different ways of looking at the development of the welfare state and deciding how far it should extend, demands for changes can result from improved technology, shifting social or economic factors and demographic trends such as lower birth rates and people living longer. As governments have discovered welfare states mean people are living longer and healthier lives which means that there are more pensioners but less working people to sustain the pensions and extra health and care services they need (Department for Work and Pensions, 2005 p. 4). Four key theories of welfare state development are based around liberalism, Marxism, Neo-liberalism and post structuralism and have all at some point been reflected in or used in the development of welfare states. Developments in welfare states can also be reactive or proactive depending on the ideological aims and visions of governments or their ability to make social policy (Spicker, 1995, p. 35). Liberalism tended to stress the role of the individual in providing for their own needs; the state should only intervene to help those that were incapable of finding work. The capitalist market would eventually provide better lives for everyone; there was only a minimum role for state intervention (OBrien and Penna, 1998, p. 21). In Britain the liberals originally achieved their aims for welfare state development with the 1834 Poor Law Act that finally replaced the long lasting but no longer effective act of 1601. Following the new act the poor were put in workhouses where they had to work in return for being housed and fed (OBrien and Penna, 1998, p. 21). Liberalism stressed in its original form that all the state needs to do is give individuals the freedom to make their own choices, only helping the really destitute. For them government only needs to uphold laws and property rights. The business of government of business was to allow businesses to operate freely (R. Bellamy Liberal ism from Eatwell and Wright, 2003, pp. 27-28). However some liberals recognised the shortcomings of laissez-faire economics particularly during recessions and slumps. They also noted the failings of the Poor Law to tackle poverty even during periods of improving prosperity. There emerged new and radical liberalism that called for increased welfare provision and the emergence of limited welfare states. The British Liberal governments of 1906-1914 epitomized that approach by introducing state old age pensions and labour exchanges for the unemployed (Comfort, 1993, p. 347). In contrast Germany had already had a well-developed welfare state provision by 1900. Curiously Bismarck who wanted a healthy well-educated population drew up this system (M Donald Hancock et al, 1998, p.295). Two new liberals in the form of William Beveridge and John Maynard Keynes where the respective architects of the Atlee governments comprehensive welfare state and postwar interventionist economic policies or Keynesian (Bellamy from Eatwell and Wright, 2003, p. 33). Beveridge had plenty of experience in welfare policy having being in charge of the labour exchanges and lecturing on economics at Oxford University and the London School of Economics. Keynes had been an economics adviser to the British government and inspired the New Deal programme in the USA (Crystal, 1998, pp. 105 523). Marxism was developed by Karl Marx in conjunction with Fredrich Engels and led to a second keynote theory of developing the welfare state. Of course Marx and Engels were not concerned with such issues as they wished to promote communism and work towards the working classes taking over economic and political power from the capitalist classes. A Marxist state would develop a welfare state to promote progress, communism and above all protect the workers and eliminate poverty. Marx believed that capitalism would be replaced by communism thus replacing the inequalities and giving everybody enough to meet their needs (OBrien and Penna, 1998, p. 44). The Marxist movement was not unified about how it would develop the welfare state or indeed gain power. Some Marxists such as the German Social Democrats preferred to use parliamentary democracy to achieve power and develop a welfare state. The seminal Erfurt Programme of 1891 called for welfare provisions such as eight- hour working days, free healthcare, free education, minimum wages and equality for women. More radical Marxists such as Lenin and Trotsky advocated armed revolutions and were able to seize power himself. The Soviet Union itself developed a welfare state with free medical and education services and pensions with unemployment officially non-existent (J.F Femia Marxism and Communism from Eatwell and Wright, 2003, pp. 110-12). In Imperial Germany, Bismarck set up the welfare state to undermine the socialists thus taming these wild beast of the political forest (Hobsbawm, 1987, p. 102). The Marxist-Leninist regimes of the Soviet Union and its Central and Eastern European satellites may have developed welfare states but they failed to produce the economic prosperity of the West and the many failures of their planned economies contributed to the fall of these regimes. On the other hand their population were all more economically equal, they were poor but had free welfare provision and no political rights. The third main keynote theory for welfare state development is Neo-Liberalism most closely associated with the governments of Margaret Thatcher and Ronald Reagan. In Britain and other parts of Western Europe the combination of Keynesian economics and all embracing welfare provision that had helped to achieve postwar prosperity faltered in the late 1960s and the 1970s. Neo-Liberals believed that the combination of Keynesian economics and the welfare state were contributing to economic and political stagnation and were no longer viable. Margaret Thatchers government elected in 1979 proceeded to formerly ditch Keynesian economics and intended to cut back on the welfare state (OBrien and Penna, 1998, p. 78-79). Following policies that became known as Thatcherism nationalised industries were privatised, subsidies to ailing private companies were stopped, and council houses were sold off. These policies increased unemployment but eventually lowered inflation. Margaret Thatcher also limited trade union power and defeated the miners during the bitter strike of 1984-1985. She brushed aside opposition to her policies as people accept there is no alternative (Comfort, 1993, p. 608). The planned reduction in expenditure on the welfare state never materialised as higher unemployment pushed up benefit payments and more civil servants were needed to process those claims. The Conservatives found that the National Health Service was politically sacred although they were able to introduce an internal market to aid efficiency. Neo-liberalism is a return to the ideas of classic liberalism and views the state in the same negative light. However it has not being able to dismantle the welfare state just to reform it (OBrien and Penna (1998) p. 103). In the USA Reagans policies produced similar levels of unemployment and poverty whilst increasing military spending substantially. Jessie Jackson accused Reagan of spending millions to beat our plowshares into swords, while leaving the di sadvantaged begging for bread Carroll and Noble, 1988, p. 437). Reagan found it easier to repudiate welfare and spurn the legacy of the New Deal than Thatcher found it to reverse the concept of provision from the cradle to the grave (Hobsbawm, 1994, p. 249). Post-structuralism emerged at a similar time to Neo-liberalism from the 1960s. Unlike Neo-liberalism it does not see liberalism in any guise or Marxism as adequate methods of understanding social and economic policy or as foundations for welfare state development. Instead of concentrating on the state and individuals Poststructuralism aims to understand the relationships between knowledge of social life and the diffusion of power through society (OBrien and Penna, 1998, p. 105). Marxism started to suffer a crisis from the 1970s with its economic weaknesses greatly undermining its social and political foundations and bringing about the collapse of communism in Central and Eastern Europe (Agh, 1998, p. 6). Actual welfare state development is more often a mixture of more than one of these approaches. Development is often based on pragmatic concerns as much as ideological ones. Political concerns particularly in liberal democracies can dictate welfare state development. Welfare measures that are electorally popular will often be implemented ahead of reforms that would make the system more effective yet could be electorally damaging. Recent demographic changes and future trends certainly make welfare state development a vital issue for the present and the future. While those aged over 65 currently represent 16% of the UKs population by 2041 that figure is estimated to rise to 25%. The UKs government Actuarys Department also estimates that the working age section of the population will decrease from 65% to 58% which is all those aged 16 to 64 (DWP, 2005, p.16). . Aging populations are a serious problem to how welfare states as already developed can be sustained. By 1994 over 65s made up 15 % of the German population, 14.5% of the French population and 17.7% of the Swedish population (M Donald Hancock et al, 1998 p. 90). Generally those of the left of the political divide are more likely to prefer a greater development of the welfare state than those on the right who either maintain the status quo or cut it back if they can (Spicker, 1995, p. 77). Based on the facts of aging populations with fewer people of working age paying taxes to fund welfare and benefits expenditure the latest trends in welfare state development tend to stress targeting expenditure to the most needy, providing value for money and preventing fraud. In Britain New Labour has attempted to reform housing benefit and introduced performance standards to improve administration by local authorities. The government has had some success in countering fraud (DWP, 2003, pp. 32-39). New Labour introduced the New Deal to help young people, disabled people and lone parents back into work. Since 1997, two million more people of working age have gained employment reducing benefits expenditure by 5 billion a year, with the purpose of tackling the scourge of unemployment, inactivity and poverty (DWP, 2005, p. 4). For Western Europe the keynote theory that best described welfare state development up to the 1960s would have been variations of liberalism with elements of socialism, for instance British new liberalism and the West German social market economy. From the 1970s neo-liberalism and Poststructuralism had a greater influence on the development of welfare states reflected most closely in the neo-liberal tenets of Thatcherism in Britain. Neo-liberalism did reduce the size of public sectors in the countries that tried it but its deflationary effects led to higher unemployment and higher benefits expenditure. Neo-liberalism would be the best theory to describe the welfare state developments in Central and Eastern Europe after the end of communism. Over all neo- liberalism is now probably the best keynote theory with the proviso that previous liberal and socialist as opposed to Marxist legacies are still apparent and politically untouchable. The reforms needed to amend, extend and continue w elfare state development would best be considered under a Post-structuralist framework. Welfare states especially in the West face the growing challenge of providing for the extra needs of aging populations whilst the working age populations needed to pay for them dwindles. Possible solutions could include raising retirement ages, persuading more people to provide for their own health care and pensions, encouraging people to have more children or encourage immigration from developing nations. Bibliography Agh, A. (1998), The Politics of Central and Eastern Europe Sage, London Carroll, P.N. and Noble, D.W. (1988) The Free and the Unfree- A new history of the United States 2nd edition, Penguin, New York Comfort, N. Dictionary (1993) Brewers Politics a Phase and Fable Cassell, London Crystal, D. (1998) The Cambridge Biographical Encyclopedia, 2nd edition, Cambridge University Press Department for Work and Pensions (2003) Departmental Report 2003 The Stationery Office, London Department for Work and Pensions (2005) Five Year Strategy -Opportunity and Security throughout life The Stationery Office, London Donald Hancock, M; Conradt, D.P; Guy Peters, B; Safran, W. and Zariski, R. (1998) Politics in Western Europe 2nd edition, Macmillan, London Eatwell, R and Wright, A. (2003) Contemporary Political Ideologies 2nd edition, Continuum, London Hobsbawm, E. (1987) The Age of Capital 1875-1914, Weidenfeld Nicholson, London Hobsbawm, E. (1994) The Age of Extremes The short Twentieth Century 1914-1991, Michael Joseph, London OBrien, M. and Penna, S (1998) Theorising Welfare Enlightenment and Modern Society Sage Publications, London Robbins, K. (1994) The Eclipse of a Great Power Modern Britain 1870 1992, 2nd edition, Longman, London Simpson, J. (January 2005) Meet Barry- hes here to help Public service director magazine Spicker, P. (1995) Social Policy Themes and Approaches, Prentice Hall Harvester Wheatsheaf, London Thane, P. (1996) Foundations of the Welfare State 2nd edition Longman, London

Mergers in the World Economy Essay -- Economics Wealth Papers

Mergers in the World Economy . "Monopoly is a great enemy to good management which can never be universally established but in consequence of that free and universal competition which forces every body to have recourse to it for the sake of self-defense" (Smith, 1776: 63). Adam Smith found that monopolies were a negative aspect for an economy therefore supporting competition among firms in order to protect one’s firm. Competition policy affects the nature of firms and policy makers in today’s global economy. Competition policy effects the world economy in many ways and with its increase in importance there must be an international agreement on competition policy. Adam Smith highly regarded competition policy as a means to enhance economic performance. Mergers can provide positive aspects for an economy and competition policy but also provide problems. The merger of aircraft manufacturers shows how mergers directly affect society today. Competition within economies is the act of competing in the international economy. Competition policy is necessary to regulate competition between firms. It serves as a barrier for misconduct of firms while encompassing antimonopoly policies which act as guideline against boundaries or barriers. "Competition policy is understood as facilitating corporate takeovers to allow more efficient managers to control productive assets" (Peritz, 1996: 282) The main goal for competition policy is to support effectiveness of the economy as a whole. Smith points out how competition will only benefit both consumers and producers in the end rather than have a monopoly. "It can never hurt either the consumer or the producer on the contrary it must tend to make the retailers both sell cheaper and bu... ...ade Rules in the Making. Washington DC: The Brookings Institute Press. Jacquemin, Lloyd, Tharakan and Waelbroeck. 1998. "Competition Policy in an International Setting: The Way Ahead." The World Economy Volume 21 Number 8, pages 1179-1183. Kim, E. Han., Singal, Vijay. 1993. "Mergers and Market Power: Evidence from the Airline Industry." The American Economic Review Volume 83 Number 3, pages 549-568. Ott, James. 1986. "Airline Mergers Will Intensify Competition for Aircraft Orders." Aviation Week and Space Technology, pages 32-34. Peritz, Rudolph. 1996. Competition Policy in America: 1888-1992. England: Oxford University Press. Smith, Adam. 1776. The Wealth of Nations. England: Oxford University Press. Tharakan and Lloyd. 1998."Competition Policy in a Changing International Economic Enviroment." The World Economy Volume 21 Number 8, pages 997-1002.

Weather and its Effects

At the very least, we want to know how hot or cold it will get, or whether there will be rain or snow. Some of us live in places where severe weather can produce dangerous conditions flooding, tornados, blizzards or fogs, so we pay attention to weather related warnings. And these days, weather reports are getting more sophisticated, with pollen counts and particulates for allergy sufferers, and UP indices to tell you whether you need sunscreen. Since weather affects us so constantly, I put together this page to help understand he science of weather.I am not much interested In weather forecasting, which Is a very technical subject. This information is much more basic, about why weather â€Å"happens†, what's going on in the atmosphere, what weather-related terms we see on TV really mean, how to read weather maps. It's mostly practical Information, from a not very technical perspective. Weather and Climate Before we begin, let's differentiate between weather and climate. Weather is the state of your local atmosphere at any given time, in terms of such measurements as temperature. Wind speed, alarm pressure. Reciprocation, etc. Weather Is very specific – it's about a particular place at a particular time. It varies on a relatively small scale – for example, it could be raining in your area, while it's dry 10 miles away. It could be 72 degrees near your home, but only 65 degrees a few miles away. You could have a thunderstorm at 6 p. M. And have the sky clear by midnight. So when we're talking about weather. We are talking about a relatively small area and a very specific time. Moving to a different area, or going forward in time quickly changes the weather.On the other hand, climate is about long term averages. It concerns the same things as weather measurements like temperature, pressure, rainfall, precipitation but these measurements are averaged over a long period. If you say â€Å"the average high temperature for Boston in April is 56 deg rees†, then you are talking about climate. In order to report that average temperature, someone must have measured the high temperature each day in April, and then averaged those highs. Further, it's not enough to do that for one year, because any given year could be hotter or colder than average.So they must have measured high temperatures ACH day in April for several years, in order to calculate a multi-year average. In fact, in many places, such temperature records go back a century or more. These 100+ year records are used to calculate averages for temperatures, rainfall, weather patterns, etc. , and these long terms averages constitute the climate. It's Important to remember that weather can be very variable, but climate Is not. You could hit a high of 80 degrees on April 4th in Chicago one year, but in another year, the high on the same date might barely reach the freezing point at 32 degrees. There than a year-to-year variability. It doesn't even mean that the whole mon th of April was hotter, or the whole year was hotter. In order to make any long term comparisons, in order to show any trends, you absolutely need multi-year climate data. The Earth's Atmosphere Since weather is the condition of the atmosphere above a certain location, at a certain time of day or night, let's consider the atmosphere in more detail for a bit. The Earth's atmosphere extends from ground surface to the edge of interplanetary space.Most of this atmosphere is contained in a narrow band, about 7-10 kilometers high, which is known as the troposphere. About 80% of the mass of the atmosphere is contained within this thin band. Although 7-10 kilometers (23,000 – 32,000 feet) may not seem like a â€Å"thin† band, but it really is, if you consider how far the Earth's atmosphere extends. Technically, the Earth's atmosphere reaches half way to the moon (about 180,000 km) you have to go about that far before the density of atoms in the atmosphere equals the density of atoms typical of interplanetary space.Much of it is even visible to the naked eye. Astronauts in space can see the Corcoran, which looks like a hazy band surrounding the Earth, extending to about 100,000 km above the Earth. Of course, the upper atmosphere hundreds of miles above the Earth is unbreakable and almost empty. In fact, anything over 100 km is considered space, and if you go there, you are technically considered an astronaut by the World Air Sports Federation (this was the definition of space used for the X-Prize). The International Space Station (SIS) orbits at about 350 km.Low earth orbit, used by a huge number of satellites, extends to about 2000 km at most. These regions are commonly referred to as â€Å"space† by most people, but they are still part of the Earth's atmosphere. There is enough air up there that satellites slow down over time due to air friction, their orbits decay, and they ultimately fall back to the Earth. The SIS needs to be boosted every few months to a higher orbit, or it would also fall back to Earth. The Hubble telescope orbits at 595 km, and although it is more stable than the SIS, its orbit will also decay and fall back to Earth eventually.You have to go as far as geostationary or geosynchronous orbits (about 35,000 km) before the friction of the atmosphere (communications satellites are often in such orbits) becomes a smaller concern than gravitational perturbations. But this is still within the atmosphere. For the discussion of weather, however, we do not usually need to consider such high altitudes. 80% of the Earth's atmosphere is contained within the troposphere, a zone which extends from the surface of the Earth to about 10 km (it varies with latitude about 7 km over the poles, and about 17 km over the equator). 9% of the atmosphere is contained within the troposphere and the next zone outward – the stratosphere. The stratosphere extends from the boundary of the troposphere (known as the troposphere) to about 50 – 55 km from the surface of the Earth. Since the stratosphere), this is where weather happens. Outside this region, the air is not dense enough to display phenomena which are energetic enough to affect the weather. If the Earth's atmosphere were in complete equilibrium, we would have no â€Å"weather†. Conditions would be unchanging – there would be no day or night, no seasons, no rainfall, nothing.The source of changes in weather is changes in some other condition, some other variable. That variable is largely the Sun, although other factors also play a role. The spin of the Earth about its axis produces day and night, which means that energy input from the Sun on any given area of the Earth's surface varies cyclically reaching a peak during the day, and falling at night. This day-night cycle is a major source of weather, but it is modified and added to by many other cycles and factors as well. Some of these other factors vary by time of day or year , while others vary by location on the Earth's surface.In either case, variations are what fuel changes in the atmosphere, which we call weather. What factors cause the energy input of some local area on the Earth to change? Here are some: Latitude How far you are from the equator determines the angle of incidence of the Sun's rays at your location. This is extremely important in determining how much energy you receive from the Sun. The diagram at the right explains how this happens. Note that the diagram is not to scale, it shows the Sun as much smaller than the Earth, but that makes no difference to the explanation. The Sun is roughly spherical.It radiates energy in all directions. A very small portion of this energy is intercepted by the Earth. If we assume that the Sun radiates energy equally in all directions, we can imagine its surface (which radiates the energy) as Ewing divided into patches, measured by degrees of solid angle (usually expressed in stranding). Since the Earth is very far away from the Sun, and very small, it intercepts direct light from a very small patch of Sun. Notice the qualifier â€Å"direct†, as in â€Å"direct light†. This is important because the situation described is a simplification.In reality, the surface of the Sun emits light in all directions; therefore the Earth receives light from all parts of the Sun that are facing the Earth at a given time, not Just a single patch which is closest to the Earth. However, the density or intensity of this light is greatest when it is direct, that is, when a ray of light perpendicular to the Sun's surface intersects the Earth. So the relationship still holds – the more the direct sunlight falls upon some area of the Earth, the greater is the energy that area receives. He equator get progressively colder, because they get less direct sunlight. This creates bands or zones on the Earth's surface, with the hottest zones at the equator and the coldest zones at the poles. A temperature gradient is thus created, with high temperatures near the equator and cold temperatures at the poles. This temperature gradient drives the movement of air, which we perceive as winds. This variation is constant in time, meaning it does not change by time of the year. Latitude 50 North will always receive less installation than latitude 5 North, no matter what season of the year.It is simply a variation by location, that is, dependent upon the latitude location on Earth. Latitude is very important in setting up the permanent winds on Earth. We can divide the Earth (from North to South) into several well-marked zones. The band near the equator (about 5 ON to 5 so) is called the doldrums. It's the hottest part of the Earth, since the equator receives the most direct sunlight every year. On both sides of the equator are the tropics. These stretch roughly from the doldrums to the Tropic of Cancer (23. 5 ON) in the northern hemisphere, and to the Tropic of Capricorn (23. so) in the southern hemisphere. The tropics have a â€Å"tropical† climate – hot in the summers, mild in the winters. Beyond the tropics are the sub-tropical zones, which stretch from the Tropic of Cancer (23. 5 ON) to the Arctic Circle (66. 6 ON) in the northern hemisphere, and from the Tropic of Capricorn (23. 5 so) to the Antarctic Circle (66. 6 so) in the southern hemisphere. The subtropics usually have mild summers and cold winters. Beyond the subtropics lie the polar zones, from the Arctic Circle (66. 6 ON) to the North Pole (90 ON) in the northern hemisphere, and from the Antarctic Circle (66. so) to the South Pole (90 so) in the southern hemisphere. These are the coldest regions on Earth. Although there are many variations between different locations within the same zone (due to other differences, such as altitude, nearness to the sea, etc. Which are described below), the zones do broadly reflect the kind of climates found within. As mentioned earlier, they set up the patterns of the permanent winds – the trade winds, westerly's, polar winds. These permanent winds have a very strong effect on climate, and you can read about them in more detail on this page.Season The Earth's axis is not perpendicular to the plane of the Earth's orbit around the Sun; it is in fact tilted. The angle of tilt varies over time, but at present it is approximately 23. 5 degrees. Because the Earth revolves around the Sun, during the course of a full orbit around the Sun, each of Earth's hemispheres is at times tilted towards the Sun summer) and at other times tilted away from the Sun (Winter). The periods of maximum tilt are the solstices. In the year 2010, Summer solstice is on towards the Sun, which corresponds to summer and the longest day of the year in the northern hemisphere.Winter solstice in 2010 will be on Deck 21st at 1 1 PM (GMT), which corresponds to winter and the shortest day of the year for the northern hemisphere. As can be seen in the accompa nying diagram, a similar effect to the latitude differential described above happens during summer and winter. During summers, since the northern hemisphere is tilted towards the Sun, it receives more direct unlighted, leading to higher temperatures. During winters, since the northern hemisphere is tilted away from the Sun, it receives less direct sunlight, leading to colder temperatures. The effect is reversed in the southern hemisphere.Summer solstice in the northern hemisphere corresponds to winter solstice in the southern hemisphere, and vice versa. This seasonal effect can dramatically change weather patterns, and not Just in terms of temperatures. The change in temperature patterns across the globe shifts the high and low pressure areas of the atmosphere, which can lead to seasonal changes in winds. Indirectly, they can also affect precipitation, if for example, a winter wind which blows from land to land switches to a summer wind, which blows from sea to land. Wind blowing fr om the sea contains more moisture, which can lead to rain or snow.It's important to remember that while we think of seasons as a yearly phenomena, these changes are gradual and are happening constantly. Between the extremes of summer and winter solstice, each day the pattern changes gradually, the day becomes shorter or longer, depending upon whether the area is approaching summer or winter. While such small daily changes may seem miniscule when noninsured in terms of degrees of inclination or tilt, over the large surface of the Earth they correspond to significant shifts in the temperature zones. It's easy to calculate the magnitude of these daily changes. Since the Earth's axis is inclined at 23. Degrees, on summer solstice, latitude 23. 5 North (the Tropic of Cancer) is directly underneath the Sun (meaning, the Sun is directly overhead at noon on summer solstice day, if you happen to be at latitude 23. 5 North on that day). Similarly, on winter solstice day, latitude 23. 5 South (the Tropic of Capricorn) is directly underneath the Sun. So in the 6 months between the summer and winter solstices, the Sun changes its apparent position by 23. 5 + 23. 5 = 47 degrees in the sky. If we assume the Earth's radius to be 6400 km, then 47 degrees of latitude correspond to 47/360 = 5350 km of the Earth's surface.This means that the Earth's sun-directly-overhead-at-noon point migrates 5350 km north and south every 6 months. This is approximately 5350/180 = 29 km per day, or about 18 miles. As you can see, while it didn't seem much when we were simply looking at angles, if you warm front moving 18 miles in a day would definitely be noticed by us. So these hinges are important not Just on a seasonal basis, but also in affecting our day-to- day weather. Altitude The higher you go, the thinner the air gets. Dense air has a greater capacity to absorb and retain heat than thin air, so this is one reason why the temperature is colder at higher altitudes.However, this is insigni ficant compared to another effect, which is the cooling of air as it expands. According to the ideal gas law, the temperature of air is inversely proportional to its temperature, all else being the same. This is because as air expands under low pressure, it does work in expanding, and loses energy as ark done. Since the thermal conductivity of air is very low, it doesn't gain much heat from its surroundings, so the cooling is mostly diabetic, and well approximated by the gas law. The presence of water vapor upsets this relationship a bit, but not by a whole lot.This is the main reason why it's much colder at higher altitudes than it is at sea level. Therefore places which are near sea level and have thick, dense air are hotter than places at the same latitude which are at higher elevations. This is why the summit of Mount Kilimanjaro is covered with ice, even though it's located almost directly on the equator (about 3 so). There is a separate section here which talks about altitude- dependent atmospheric pressure changes in more detail. These changes are very important in determining the local climate of an area.Land and Oceans Land and oceans are heated differentially by the Sun. Land has a smaller thermal capacity than water. This has several interesting effects. First, it means that the same amount of solar heat will raise the temperature of land much more than it will raise the temperature of water. Therefore, during a given day land at the same latitude as water will become much hotter than the water. Since they are at the same latitude, they have received roughly the same amount of solar energy, and absorbed roughly the same amount of energy (actually, the water absorbs a bit more).But because of the difference in thermal capacities, land becomes much hotter than water with the same amount of energy. In terms of local winds, this might mean that the wind direction is from the land towards the water during the day (since air moves from higher temperature a nd low pressures towards colder temperatures and high pressures). Secondly, the greater heating or cooling of land leads to greater temperature preferential. The rate of heat gain or loss of an object depends upon the temperature differential between that object and its environment.For example, if you heat a pot of water to boiling (100 co), and then remove it from the stove and let it 10 co. If room temperature is 20 co, then the water will drop from 100 co to 90 co very quickly, but it will go from 30 co to 20 co much more slowly. This is because the temperature differential between the water and room temperature is much higher when the water is at 100 co than when it is at 30 co. Since land heats up more during he day, the temperature differential is higher, therefore land cools very rapidly as well. Water cools much more slowly, because the temperature differential is lower.We can think of it this way: land has rapid heating/cooling cycles with each day/night cycle. A large body of water, on the other hand, has much slower cycles. In fact, the water cannot lose all the heat it acquired during a summer day overnight, so it starts the next day slightly warmer than it was the previous morning. So as summer progresses, large bodies of water get progressively warmer, and they maintain this eat through the night hours, when the land cools down. For this reason, oceans don't have diurnal peaks and troughs in their temperature like the land; instead, they have seasonal peaks and troughs in their temperature.These things produce very significant effects on weather patterns. The general direction of the effect is towards the moderation of temperatures. Since the water heats more slowly but retains heat longer than land (and cools more slowly but retains coldness longer than land), the presence of oceans tends to moderate the climate of nearby land masses. At the same latitude, an area will be much hotter in he summer and colder in the winter if it's far away from th e sea. Nearness to the sea will moderate temperatures, making it both less hot in the summer and less cold in the winter.Even smaller bodies of water such as lakes can have a moderating effect on temperatures. Check the weather map of the Midwest US, and on many days you'll see that the temperature at the lake front in Chicago is higher or lower than out in the suburbs (by a few degrees), simply because Lake Michigan cools the lake shore during the summers, and warms it during the winters. Smaller bodies of water can also produce local diurnal winds, such as a breeze from lake to shore in the mornings, and a breeze from shore to lake in the evenings.Again, this has to do with the differential heating of land as compared to water during the day. Topography The physical relief of land areas has much to do with weather. There can be many reasons for this. One is simply altitude – mountainous areas will be cooler than areas at the same latitude which are nearer to sea level. But in addition, variation of the terrain can influence wind patterns and therefore the weather. One example is mountains as a barrier to wind flow. If a mountain range interrupts revealing winds, air is forced upwards to pass over the mountains.As it moves upward, it cools down. Since the water carrying capacity of air diminishes as it cools, this results in precipitation on the windward side of the mountains. Conversely, once Therefore, the leeward side of the mountains will be in â€Å"shadow† and receive much less rainfall than if there had been no mountains along the way. This effect can be seen almost anywhere in the world where there are mountains that interrupt some seasonal wind flow. It is very dramatic in the Himalayas in India, where the monsoon winds from the south meet the Himalayas.On the windward side, in the foothills of the Terra, there is very heavy rainfall. Chirruping in the Indian state of Megalith has historically been the wettest place on Earth (450 inches of rain on average per year), as the monsoon winds from the Bay of Bengal hit the Kiosk hills and are forced to rise and shed water. Conversely, the Tibetan plateau, on the leeward side of the Himalayas is very dry, with less than 18 inches of rain/ snow per year. There are other effects of topography as well. Flat land which is uninterrupted by hills or mountains allows wind to build up over long stretches.This is why the Midwest and plains states in the US are generally quite windy. Land which is more uneven breaks up lower level winds, so wind speeds are slower and winds are not as sustained. If a large area of flat lands then borders a hill or mountain range, these high winds can get channeled into valleys between the hills, and reach even higher velocities. You can see this effect on a much smaller scale even with man-made structures. Streets form canyons between skyscrapers in downtown areas of major cities, and wind is channeled through these â€Å"canyons†, reaching much higher speeds Han out in the suburbs.If you've walked through downtown Chicago or downtown Manhattan, you may have experienced this yourself. Low lying troughs, on the other hand, may have days when the air stagnates and does not move, since it is blocked by higher elevations surrounding the trough. Ocean Currents Water, like air, is a fluid medium, which can move from one place to another under temperature differentials. Just as there are winds in the atmosphere, there are water currents in the oceans, which carry warm water or cold water from one place to another, sometimes for thousands of miles.One well-known example of such a current is the Gulf Stream, which carries warm water from the Caribbean to near the shores of northern Europe. The Gulf Stream is largely responsible for the migration of populations into Europe after the last ice age. Without the Gulf Stream, Europe would probably be a sparsely populated wasteland. Consider London, which in terms of latitude is sligh tly farther north than Calgary in Canada. The average January low temperature of Calgary is 8 OF, but the average January low temperature of London is 41 OF. This is a huge difference, and the Gulf Stream is responsible.While latitudes comparable to England and northern Europe are almost tundra-like across Canada or Asia, they are quite warm and habitable in cultures traditionally depend upon hunting, since agriculture is insufficient to provide the necessary calories. But in Europe, there is extensive farming, which can support much larger population densities. The Gulf Stream has made it possible; it is a critical part of Rupee's habitability. Ocean currents are one of the most important contributors to climate, but the topic is fairly complex. I have written a brief explanation here, which you should really read before going ahead.

Plants and Life on Earth Essay

Plants are the only organisms that can convert light energy from the sun into food. And plants produce all  of the food that animals, including people, eat. Even meat. The animals that give us meat, such as chickens and cows, eat grass, oats, corn, or some other plants. Plants make oxygen One of the materials that plants produce as they make food is oxygen gas. This oxygen gas, which is an important part of the air, is the gas that plants and animals must have in order to stay alive. When people breathe, it is the oxygen that we take out of the air to keep our cells and bodies alive. All of the oxygen available for living organisms comes from plants. Plants provide habitats for animals Plants are the primary habitat for thousands of other organisms. Animals live in, on, or under plants. Plants provide shelter and safety for animals. Plants also provide a place for animals to find other food. As a habitat, plants alter the climate. On a small scale, plants provide shade, help moderate the temperature, and protect animals from the wind. On a larger scale, such as in tropical rainforests, plants actually change the rainfall patterns over large areas of the earth’s surface. Plants help make and preserve soil In the forest and the prairie, the roots of plants help hold the soil together. This reduces erosion and helps conserve the soil. Plants also help make soil. Soil is made up of lots of particles of rocks which are broken down into very small pieces. When plants die, their decomposed remains are added to the soil. This helps to make the soil rich with nutrients. Plants provide useful products for people Many plants are important sources of products that people use, including food, fibers (for cloth), and medicines. Plants also help provide some of our energy needs. In some parts of the world, wood is the primary fuel used by people to cook their meals and heat their homes. Many of the other types of fuel we use today, such as coal, natural gas, and gasoline, were made from plants that lived millions of years ago. Plants beautify Plants, because of their beauty, are important elements of out human world. When we build houses and other buildings, we never think the job is done until we have planted trees, shrubs, and flowers to make what we have built much nicer.

Chinas Population Problem essays

China's Population Problem essays The Chinese government has taken the enforcement of family planning and birthrate laws to an extreme by violating the civil rights of its citizens, which has had bad effects on the morale of its people (Whyte 161). China's population has grown to such an enormous size that it has become a problem to both the people and government. China, the most populous country in the world, has an estimated population of about one thousand-one hundred-thirty three point six million (Hsu 1). Ninety-four percent of the population thrives in the eastern half of China, which composes about forty-three percent of China's total area (Hsu 1). The eastern half of China contains its most populous cities like Beijing, Shanghai, and Tianjin. However these cities have a low fertility rate due to recent bandwagons of birth control. The average density in the eastern half of China averages around two-hundred and thirty-six people per square kilometer, whereas the density in the west half averages around ten poi nt six people per square kilometer (Hsu 1). Current enforcement of Chinese laws prevents migration between provinces without proper authorization, as the citizens in the west half of China have a desire to live in a more urban life where jobs can be found easier, and the citizens in the more populous eastern half have a stronger desire to live in the more rural western China (Hsu 4). The Chinese have always had a large population (Hsu 1). Even in ancient times where the population would never fall below sixty million (Hsu 1). Later, in the eighteenth century the population rose exceedingly and China became the strongest and most economically wealthy (Hsu 1). By the time the Qing Dynasty ruled, the fertile people of China had reached a population of three-hundred million (Hsu 1). The birthrate in China did decline in the nineteen-fifties due to campaigning by the government on birth control (Hsu 1). However, after the population decreased the government t...

Comedy Club essays

Comedy Club essays The Comedy Club was a presentation by Steve Kent in which it dealt with comedy as a mean of medicine. He called it the medicine of the soul. Researches suggest that comedy raises the immunes level of T cells. This in its self is a scientific phenomenon in which research is being gathered to try to explain why this is taken place physiologically. During his presentation, Steve talks about the power of humor in which he states it both gets you into trouble and out of trouble. For example, when someone falls to the ground they often use humor to avoid as much embarrassment as possible. It is in a sense your bodys protection tool from emotion. He also dealt with the use of humor to lighten the seriousness of situations. Studies support that people who laugh a lot while diagnosed with a terminal illness, they are more likely to live longer then people who laugh less (personal I have no idea how this was researched). I feel that humor is of great importance. If the world was without humor, I think that it would be an unbearable place to live in. The problem is that not everyone has as much to laugh at. That is why it is important for people like Steve to travel and teach people what comedy is all about (of course he does this in a humorous way). During his performance, he used the audience as his props and his story line. This was one way which he got the audience involved and demonstrated the meaning of improv. He was incredibly funny and he did achieve is directive by doing two things: 1. Teaching us about the effect that humor has; 2. He made us laugh. I would recommend Steves seminar on humor to anyone interested in learning more about the nature of the body and the delighting of the soul. ...

Four Criteria for Identifying a Rock

Four Criteria for Identifying a Rock What is a rock, exactly? After some thought and discussion, most people will agree that rocks are more or less hard solids, of natural origin and made of minerals. But to geologists, all of those criteria have exceptions. Are All Rocks Hard? Not necessarily. Some common rocks can be scratched with your fingernails such as shale, soapstone, gypsum rock, and peat. Others may be soft in the ground, but they harden once they spend time in the air (and vice versa). And there is an imperceptible gradation between consolidated rocks and unconsolidated sediments. Indeed, geologists name and map many formations that dont consist of rock at all. This is why geologists refer to work with igneous and metamorphic rocks as hard-rock geology, opposed to sedimentary petrology. Are All Rocks Solid? Some rocks are far from completely solid. Many rocks include water in their pore spaces. Many geodes   hollow objects found in limestone country hold water inside them like coconuts. Two rocks that are barely solids include fine lava threads known as  Peles hair  and the fine open meshwork of exploded lava reticulite. Then theres the matter of temperature. Mercury is a liquid metal at room temperature (and down to -40 F), and petroleum is a fluid unless its asphalt erupted into cold ocean water. And good old ice meets all the criteria of rock-hood too...in permafrost and in glaciers. Are All Rocks Natural? Not entirely. The longer humans stay on this planet, the more that concrete accumulates. Concrete is a mixture of sand and pebbles (aggregate) and a mineral glue (cement) of calcium silicate compounds. It is a synthetic conglomerate, and it acts just like the natural rock, turning up in riverbeds and on beaches. Some of it has entered the rock cycle to be discovered by future geologists. Brick, too, is an artificial rock in this case, an artificial form of massive slate. Another human product that closely resembles rock is slag, the byproduct of metal smelting. Slag is a complex mixture of oxides that has many uses including road-building and concrete aggregate. It has found its way into sedimentary rocks already. Are All Rocks Made of Minerals? Many are not. Minerals are inorganic compounds with chemical formulas and mineral names such as quartz or pyrite. Coal is made of organic material, not minerals. The various types of stuff in coal are instead called macerals. Similarly, what about coquina...a rock made entirely of seashells? Shells are made of mineral matter, but they arent minerals any more than teeth are. Finally, we have the exception of obsidian. Obsidian is a rock glass, in which little or none of its material has gathered into crystals. It is an undifferentiated mass of geological material, rather like slag but not as colorful. While obsidian has no minerals in it per se, it is unquestionably a rock.

Critically consider to what extent this offers a mutual gains approach Essay

Critically consider to what extent this offers a mutual gains approach to people management - Essay Example The flexibility of approach and perspectives to change become high point that hugely helps to meet the challenges of time. The innovative measures and incentive driven tools that are linked to the performance are increasingly being used as vital elements of business strategy. Scholars assert that performance management is strategic tool or process that motivates workforce for optimal performance (Bloisi, 2007; Armstrong and Baron, 2005). Apart from incentives, commitment to work and loyalty towards employers is considerably increased when the employees are provided scope of enhancing their professional skills and competencies through in-house training and development. Financial and emotional security, job satisfaction etc are factors that promote trust building and induce high performance and retention of employees. Hence, HPWP not only benefits employees but also the employers as they are able to retain high performing human capital that significantly influences the revenues. Most importantly, they are able to maintain their competitive advantage through hard times as HPWP provides organization with fl exible approach and innovative performance related measures to meet contemporary challenges for optimal performance. (words:

Reflective Report includee 2 tasks M Essay Example | Topics and Well Written Essays - 1750 words - 1

Reflective Report includee 2 tasks M - Essay Example I also expected to combine work and study in order to finance my personal needs, acquire valuable work experience as well as improve my professional network. I have learned how to live in a multicultural environment since I came to the UK even though there were a lot of challenges in adapting to the life in UK. I have also become a more sociable and confident person from interacting with individuals from diverse backgrounds. I have been exposed to different experiences and cultures of which I wouldn’t have if I was not in the UK. Before I came to the UK I was very shy unlike now. It was not easy for me to make major decision all by myself but the experience here has made me more independent. Among the things I have learnt at Greenwich is how to combine both the theoretical and practical aspects of my studies in real life situations. This has been very helpful to me since theory doesn’t always aid one in getting a placement, an internship or a job. Given that English is not my first language, communication proved quite an uphill task for me at first but I eventually had to learn how to use it fluently. I have learnt to improve my English by wide range of educative books such as those which target international student learning English. This was very useful in the beginning since English in such books is written in a manner that is somewhat simplified. This made it easy for me to learn and understand English. I also sharpened my skills by frequently watching English TV episodes. This made learning more fun. I also engaged in discussions with my fellow student. This improved my communication skills since I can now confidently express myself in English. Since I started learning at the Greenwich University, my study skills have greatly improved. I have learnt to always prepare for my classes at the most appropriate time. For classes that involve recitation, I spend time making questions regarding previous recitation, brushing up on the

Nursing Practice Act Requirements Essay Example | Topics and Well Written Essays - 250 words

Nursing Practice Act Requirements - Essay Example On joining the profession, Nurses should perform their duties with due diligence and care. Every action of a nurse should point to the well being of a patient. For instance, a nurse may deceive patients about improvement of their health to avoid unnecessary fear.A code of ethics guides the nurses to act professionally, honestly, and with integrity. This calls for a nurse to be knowledgeable of their work, compassionate, flexible, patient centred, have people skills, and think critically. Unlike in the nursing profession where every nurse owes a duty of care to patients entrusted to them, celebrities do not owe a duty of care to their fans. They give their views in songs, poems, and speeches and expect their fans to make good judgements and pick what concerns them. Most of celebrity’s profession have no code of ethics and thus they operate on good morals.In conclusion, even after due care is taken in selecting persons to join nursing profession where proper education is given, some nurses still practise in the dark side. According to Attewill and Snow as quoted in Medsurg journal, there is need to acknowledge that incompetent nurses continue to practise, avoidance, and intentional acts against patient still take place, which calls for the need for further study (Wolf, 2012). the entry into nursing is the first filter of characters that join this profession. After entry by academic qualification, assessing personal characteristics of applicants to eliminate unsuitable applicants is necessary.

Law of Contract II Essay Example | Topics and Well Written Essays - 2000 words

Law of Contract II - Essay Example Whether CBL can claim for breach of contract against Ricky for non – payment of money for the work completed. Rule of Law A false statement of fact, during the formation of a contract, by one of the parties to the contract, constitutes misrepresentation. As per the provisions of the Misrepresentation Act 1967, the representor is liable for fraudulent misrepresentation, despite his not having made the statement fraudulently.1 The party to the contract that undergoes loss due to this misrepresentation can either revoke the contract or claim damages.2 Application Ricky’s contract with CBL involves the construction of a new conservatory. Lawretta, a director of CBL, assures him that they are the best in constructing conservatories and that he was at liberty to make relevant enquiries. Ricky believes her statement and agrees upon a cost of ?20,000 for constructing the conservatory. After the completion of half the work Ricky discovers that CBL had never constructed conservat ories. In addition, he comes to know that some of CBL’s former customers are claiming damages for defective and poor workmanship. Ricky refuses to pay CBL for the work completed and the latter decides to claim for breach of contract. ... ordships ruled that in such cases, it was sufficient if the plaintiff could establish that the defendant knew or was convinced that his statement was not factual.3 In Redgrave v Hurd, the plaintiff had made a statement regarding his firm’s income, while attempting to induce the defendant to become a partner, in his business. Hurd discovered that the statement was wrong and sought to rescind the contract. The lower court ruled in Redgrave’s favour, but the appellate court set aside this decision and held that Redgrave’s statement constituted innocent misrepresentation. Thereafter, it upheld the revocation of the contract by Hurd.4 A plaintiff is not liable for breach of contract if he had been unaware of the misrepresentation, at the time of the contract. This was the ruling in Horsfall v Thomas.5 Moreover, in Smith v Chadwick, the court ruled that there was no liability if the plaintiff had been aware of the misrepresentation and it was established that this know ledge could not have influenced his judgement.6 Finally, it was held in Peekay Internmark Ltd v Australia and New Zealand Banking Group Ltd that there had to be actual knowledge of the misrepresentation and that constructive knowledge was insufficient.7 It is essential for some relationship to exist between the misrepresentation and the inducement for the claimant to form the contract. Thus, in Attwood v Small, the defendant had relied upon his agents’ report regarding the productivity of the mines and steelworks offered to him by the plaintiff.8 As he had not relied on the plaintiff’s statement, he was not permitted to rescind the contract. Conclusion The fraudulent misrepresentation made by CBL induced Ricky to hire the former to construct a conservatory. CBL had misrepresented to Ricky about its

China Essay Example | Topics and Well Written Essays - 500 words - 3

China - Essay Example In regard to records written about foot binding in China, the first records belong to the Han dynasty. Later records on the practice are believed to have emerged a millennium later during the Song dynasty. Chen however asserts that â€Å"though popularized in the Song, legends traced foot binding back to the Shang dynasty† (14). The Shang dynasty succeeded the Xia dynasty, which is usually associated with the beginning of civilization in China. It is however not clear when the Xia dynasty came to power. The elites who ruled China during the Shang dynasty are believed to have been descendants of the Neolithic peoples of China. Among the myths formulated about foot binding in China, one of them originated from the Shang dynasty. In regard to myths on why foot binding became a national obsession in China, Robertson points out that â€Å"one legend attributed its origin to the Shang Dynasty (1700-1027 BC) that one of the daughters of the Emperor was born with a club foot and he decreed that the Court ladies should have their feet bound to reduce their size† (15). Although myths had it that women had their feet bound to be able to perform the lotus dance well, this was not the real reason behind the practice. The real reason behind the practice was to satisfy the male obsession of getting sexually aroused by a woman who swayed her hips well. According to Robertson, â€Å"the feet were bound to deliberately deform them into the shape of a ball so the woman had no choice but to sway on the deformed ball shape feet† (15). Foot binding reduced the size of the foot to only 4 inches (Robertson 15). During bedtime, the deformed feet were covered using special slippers. The erotic arousal that the bound feet gave to the men was similar to that brought about by the breasts. When foot binding began, it was only practiced by the rich families and the elite in the Chinese society

Finance Paper Essay Example | Topics and Well Written Essays - 1250 words

Finance Paper - Essay Example The Mission statement of the firm â€Å"is to build the premier specialty retailer of jewelry by  offering consumers high quality products at compelling values through an empowering shopping experience.† Values The Company emphasizes in great customer satisfaction and delivering that satisfaction through high-quality products. The key element for the company is to make the customer feel special and give them a shopping experience that will leave them in awe. From a business perspective, the company has developed â€Å"Code of Ethics† which list out some key values that the company strongly believes in. For instance, each individual should be treated with fairness, compassion and respect. The company also believes in strong foundation of complete, efficient, and accurate recording methods to the government. Strategy The marketing strategy for the company is effective and is consisted of penetrating the online market and attracting its customer. The company is expected to earn around 75 cents(earnings per share), which is 34% from the previous annual year. The organization’s strategy is to penetrate the market segment by selling their products at a lower price than the traditional jewelry stores. The company possesses two key competitive advantages. One competitive advantage is to cut the cost of buying diamonds only if there is a guarantee that the customer will purchase them. In essence, the customer cannot breach the contract, which enables it to be cost-effective and makes them unique compared to traditional jewelry stores. Blue Nile Company utilizes pull marketing strategy as it uses clever pricing strategy to accomplish its goals. The company believes in being just 10% better, a no nominal feat in these harsh economic times. Moreover, the company emphasizes in brand recognition and enhancing consumer traffic through their online website. The focal point remains through the search engines such as Google, YAHOO and Bing.com. The company offers incentives through internet by persuading customers to subscribe to their newsletter, which gives them special insights about promotions, sales, and coupons. The company invests little in brick-and-mortar advertisements and billboards. Without a doubt, the management team is vital towards the success of the organization. Diane Irvine, the CEO and the President has created a culture that thrives on â€Å"thinking outside the box.† It is astonishing to see how a company is flourishing in this business without owning diamond mines, a feat that may seem impossible. Ms. Irvine along with Susan Bell and Marianne Marck acknowledged that certain months are extremely busy for the stores. Thus, the decided to have a strategy in which they launched new, creative desings for the jwererly around that time period. In essence, the management team was ready to face the challenges of the customers head-on. Moreover, Irvine and her team excelled in customer service by returning custome rs demands and shipping their packages in timely manner. Furthermore, the management administration staff placed high priority in consultation and pursued the engagement rign business to the fullest, which made them highly profitable. FINANCIAL STATEMENTS BALANCE SHEET Period Ending Jan 2, 2011 Jan 3, 2010 Jan 4, 2009 Assets Current Assets Cash And Cash Equivalents 113,261  Ã‚   78,149  Ã‚   54,451  Ã‚   Short Term Investments -    15,000  Ã‚   -    Net Receivables 2,328

China Essay Example | Topics and Well Written Essays - 500 words - 3

China - Essay Example In regard to records written about foot binding in China, the first records belong to the Han dynasty. Later records on the practice are believed to have emerged a millennium later during the Song dynasty. Chen however asserts that â€Å"though popularized in the Song, legends traced foot binding back to the Shang dynasty† (14). The Shang dynasty succeeded the Xia dynasty, which is usually associated with the beginning of civilization in China. It is however not clear when the Xia dynasty came to power. The elites who ruled China during the Shang dynasty are believed to have been descendants of the Neolithic peoples of China. Among the myths formulated about foot binding in China, one of them originated from the Shang dynasty. In regard to myths on why foot binding became a national obsession in China, Robertson points out that â€Å"one legend attributed its origin to the Shang Dynasty (1700-1027 BC) that one of the daughters of the Emperor was born with a club foot and he decreed that the Court ladies should have their feet bound to reduce their size† (15). Although myths had it that women had their feet bound to be able to perform the lotus dance well, this was not the real reason behind the practice. The real reason behind the practice was to satisfy the male obsession of getting sexually aroused by a woman who swayed her hips well. According to Robertson, â€Å"the feet were bound to deliberately deform them into the shape of a ball so the woman had no choice but to sway on the deformed ball shape feet† (15). Foot binding reduced the size of the foot to only 4 inches (Robertson 15). During bedtime, the deformed feet were covered using special slippers. The erotic arousal that the bound feet gave to the men was similar to that brought about by the breasts. When foot binding began, it was only practiced by the rich families and the elite in the Chinese society

Functional areas of Business Essay Example for Free

Functional areas of Business Essay In today’s society, organizations need strong managers to lead their staff towards accomplishing goals. Managers are problem solvers, leaders, coordinators, communicators and planners. Managers fulfill many roles and have many types of responsibilities at different levels in an organization. Many roles Management can be very complex as they have to respond to planned and unplanned issues that can occur at any given time. Managers have a variety of duties to perform within an organization to help it function properly within the area of business. One of the areas of business that a manager plays a role in is Strategic Planning. Organizing and planning is a priority in businesses. Organizing and planning has objectives that involve developing business goals, organizing business resources to advance these goals. Both internal and external data is used about the industry, markets and competition provides information that is needed in order to direct the organizations resources and to also identify organizational needs. Managers are also responsible for making decisions in an organization, which involves choices that are related to changes that is needed to adapt internal and external factors that have an effect on business operations. Managers must also decide how and where to use resources within an organization. Other decision making responsibilities can include choosing suppliers and vendors for goods and services for the organization. Managers use accounting for financial decision making. Accounting for managers involves forecasting, relevant costing, cost-volume-profit analysis, investment appraisal techniques.(Accounting for Managers) Managers that use accounting sets targets for strategic business units as well as for departments, accounting assists in the assignment of responsibility for achievement of business targets by individual managers. Responsibility accounting is achieved by appraising the performance of managers responsible for their business units while giving due consideration for factors not within their control or influence. Mangers are also responsible for ensuring that all accounting procedures are within accounting standards, business ethics and legal requirements of business, and making th e organization financially, economically and legally sound. A manager in Human Resources create policies for employees, monitors training and performance evaluation, coordinates  new hires and employees, recruits and operate along with the vision and mission of the company. They become a positive influence to their work colleagues, sharing their experiences, to encourage employees to stay positive and perform at their best. The manager also directs his team to help monitor employees based on their performance, compensation and to carry out daily work tasks. As a manager considered a leader in an organization, you have to be able to motivate your employees in order to encourage productivity to ensure the highest level of job satisfaction. Leadership is defined as the action of leading people in an organization towards achieving goals. A manager must also have the ability to influence an employee in many ways. A leader sets clear realistic goals and vision for the organization, motivates employees and builds morale. Leadership is particularly important in senior management, such as VP, CEO, etc. To become an effective leader, a manager gas to lead people providing trust and purpose and self-management using influence and persuasion, achieving personal goa ls. It is important for managers to understand Economics in a business. Economics is very important because it enables managers to make decisions such as the price of goods and services to be produced, allocation of capital, and sales forecasting. Economics also helps managers to understand the possible effects on the way the organization functions. Resources can become scarce, and managers must be able to make financial decisions about what products and services to produce. Economics has an effect on businesses in many ways, which can have a negative and positive affect on an organization. Research and statistics enables managers to make accurate decisions based on available data, which allows them to make smarter decisions and provide more accurate leadership to staff relying on them. Statistics also helps managers to back up assertions. When managers needs to persuade people to move into a direction, or to take some toe of risk, statistics can provide them with objective goals with figures to substantiate positions or to provide a level of certainty as to what direction that the company needs to take. It is important for managers to know the law in an organization to protect the vital interest of the organization which that they manage. It will also help the manager to prevent the organization from legal problems. Not only would the law protect the workers, but it will also protect stakeholders and people that invest in  the company. If the organization is jeopardized, that can result in a huge lost. The law regulates contracts between businesses by laying down rules and regulations for the smooth running of the business and economy. Operations management is defined as the area in business where efficiency and effectiveness of operation support and development plays a role to achieve an organization’s strategic goals. Managers in this area are focused on the design and operations of systems to provide goods and services. Operations management involves planning, scheduling, and control of all activates that will transform inputs into outputs. Managers in particular have to communicate effectively to motivate other people, manage job projects and work on multidisciplinary teams. Marketing is another skill that managers should know to put their company products on the market. Marketing also enables managers to set prices for their products based on manufacturing costs. Directors also assist managers in deciding what type of advertising and promotion strategies that the organization will use. Managers may also assist advertising directors in establishing budgets for marketing and advertising their product. The manager can assist the marketing department with determining the right distribution product for the organization’s products. Great effective managers possess all of these skills to be successful in the workplace, along with other skills and assignments from upper-level management. References Role of management. (1992). Leadership Organization Development Journal, 13(3), 11. Retrieved from http://search.proquest.com/docview/226916348?accountid=458 Tiffan, B. (2011). Four important roles of a manager. Physician Executive, 37(4), 94-6. Retrieved from http://search.proquest.com/docview/878544673?accountid=458 Berri, D. J., Leeds, M. A., Leeds, E. M., Mondello, M. (2009). The role of managers in team performance. International Journal of Sport Finance, 4(2), 75-93. Retrieved from http://search.proquest.com/docview/229346895?accountid=458

The Impact Of Maybank Online Banking Information Technology Essay

The Impact Of Maybank Online Banking Information Technology Essay Computing and IT in the workplace is one of the vital modules that must be deeply studied due to its widely importance which effect on organizations development and behaviour. In this report we will provides an explanation about Online Banking system in Maybank. And we will review what the functionality, advantages and disadvantages, and the impact of Maybank Online Banking system. In addition, we will discuss the similarities and differences of Maybank Online Banking system with Internet and The World Wide Web, Security Issues, and Real-Time-Systems with a recommendations and solutions for future enhancement. Introduction As mentioned on (maybank2u.com.my, 2010) Malayan Banking Berhad or Maybank was incorporated in Malaysia on 31 May 1960 and commenced operations on 12 September 1960. On 17 February 1962, Maybank was listed on the then Kuala Lumpur Stock Exchange (today Bursa Malaysia). Maybank is today among the top companies by market capitalisation on Bursa Malaysia. Maybank is Malaysias largest financial services group with total assets exceeding RM330 billion. The Group has an extensive global network of 1,750 offices in 14 countries namely Malaysia, Singapore, Indonesia, Philippines, Brunei Darussalam, Vietnam, Cambodia, China, United Kingdom, U.S.A., Bahrain, Papua New Guinea, Pakistan and Uzbekistan.   The Group offers a comprehensive range of financial services and products ranging from commercial banking, investment banking, Islamic banking, cards issuance, offshore banking, leasing and hire purchase, insurance, factoring, trustee services, asset management, stock broking, nominee services, venture capital and Internet banking. Today, the Maybank Group has over 39,000 employees who serve over 16 million customers worldwide, with 9.5 million customers in Malaysia alone. Maybank has been consistently ranked among Malaysias most valuable brands. It is also ranked first among Malaysian banks by Brand Finance in its Global 500 survey and 118th among the top 1,000 banks in the world by The Banker Magazine. A Legacy of Growth and Leadership Maybank is the largest bancasssurance player in the region and its internet banking enjoys over 50% of market share in Malaysia. Its Islamic banking arm, Maybank Islamic Berhad, is No 1 in the Asia Pacific region today and among the worlds top 15 Islamic banks. The Groups Insurance Business under the Etiqa brand is among the top in the industry offering Life and General conventional insurance as well as Family and General Takaful plans. Investment Banking Group, spearheaded by Maybank Investment Bank, one of the leading investment banks in Malaysia, offers a comprehensive range of investment solutions, from corporate finance to debt capital markets, equity markets to research and strategic advisory. Maybank has received numerous awards as testimony to its leadership and innovation in product offerings and services. The Groups foundation of strength, consistent record of profitability and strong balance sheet is testament to its resilience in all economic cycles. Corporate Responsibility The Group has over the years placed a priority on being a responsible corporate citizen through various activities, initiatives and programmes, with the primary objective of making a difference in the community, environment and human capital development. As a responsible organisation, we embrace industry best practices in corporate governance by promoting a culture of excellence, transparency, integrity and accountability in our daily operations. Celebrating 50 years in 2010 This year, Maybank celebrates its 50th anniversary. Functionality of maybank Online Banking MayBank online system allows people to perform Banking activities. It provides a fast and convenient way of performing common banking transactions on the Internet. If you have a computer with Internet access, a web browser, youll be able to do your banking from the comforts of home, office or virtually anywhere else in the world. Maybank ATM/credit card holder has to apply before he can get to Maybank internet banking system online for the first time only. Here, more details on how to apply as mentioned on (maybank2u.com.my, 2010): Go to the nearest Maybank ATM. Enter you Maybank ATM/credit card. From the main menu, Choose Maybank2u Services. Choose Maybank2u Application. Enter your own 6-digit Maybank2u.com PIN. Repeat the same PIN again to confirm. Then, Maybank ATM/credit card holder has to complete registration by: Go to www.maybank2u.com. Click on Login. Click on Login for new users. Read the Terms and Conditions, then click on the Accept button. Enter the ATM/credit card number that you used to apply for your Maybank2u.com in the Access Number field. Enter the 6-digit Maybank2u.com PIN that you have selected and click on Activate. Enter your preferred username and password for all future access. Now, Applying and registration has been completed. And the Maybank ATM/credit card holder can access his account easily by: Go to www.maybank2u.com. Click on login. Enter your username and password that you select before. By accessing Maybank online system user can banking online and performs his/her banking activities remotely. The system provides a lot of functions which make the banking Processes easier for the users. Here more details on what user can do through the system. Accounts Banking: Allow users to view and manage their accounts, make payments, and transfer funds. Bill Payment: allow users to pay their bills from almost 600 payee corporations available, pay their Maybankard credit card bill, pay their income tax to LHDN, make DMP Payment, and pay their American Express charge card bills. Transfers: allow users to transfer funds between their own accounts, to another persons Maybank account, to a local account or to an account overseas. Fixed Deposits: allow users to view their existing fixed deposit account details, make an online placement or upliftment. Rewards Points: allow users to check their TreatsPoints or their American Express rewards. Investment: Allow users to trade using Online Stocks, make an EPF payment or manage their EPF accounts, apply for eShare or manage their CDS accounts, choose a fund allocation, view a Maybank Investment portfolio report, register their ASNB Account and make Additional Purchases, view their FCA account details, and view their GSPA account details. Insurance: Allow users to purchase and renew their insurance policy or purchase. Loans: Allow users to view and manage their personal, home, and car loans. Mobile Banking: Allow users to sign up for Mobile Financial Services (mobile banking account), register their number and change their Service Provider. Personal Details: Allow users to change their login password, update customer contact information, view their personal details and update their profile. Buy Online: Allow users to top up their mobile prepaid, buy prepaid mobile and MYeCASH PIN, reload or buy their IDD/STD card and internet prepaid. Maybank @ SG: Allow users to access their Maybank Singapore account. Bills Statements: Allow users to view their bank trading statement, bills and credit card statements, loans statement, and their debit and credit banking advices and notices. Advantages of MayBank Online Banking Pay a bill: Electronic bill payment service allows a depositor to send money from his or her online account to a creditor or merchant, for example to a public utility or a department store. There is no need to stand in a long line on a weekend morning to handle your transactions.   Transfer funds: With online banking, you can make money transfer between your own accounts, or send money to a third party account. All you need is recipient/payee information and enough funds in your account. Quite often, the operations are performed in real time   View automatically updated spending report: All your purchases are sorted into familiar categories automatically to save, no expenses to enter. It is easy to see where your money goes. Track your payment history: Online banking gives you an opportunity to search your payments by transaction type, date, description or amount. When did you last pay Company X? When did you buy your computer? To whom did you make your most recent payment? Your bank knows the answers.   Schedule payments in advance: Most banks offer customers the ability to schedule a payment on a specified date. Once the amount is entered and the payee is checked off, the funds are automatically deducted from your online bank account.   Take advantage of online brokerage: Internet banking lets you invest online. You can place and confirm trades 24 hours a day, seven days a week. Most banks provide a wide range of money market instruments from various issuers. Change contact details:   You can log in to your online account and change contact information (e-mail address, telephone number, password, etc.). It is more secure than to send this information by e-mail. Get alerts: This service allows you to receive timely e-mail messages from your bank about any critical changes related to your Internet accounts. For example, you can get alerts when you make a withdrawal or change your contact information. Disadvantages of MayBank Online Banking Security: Yes, online banking is generally secure, but it certainly isnt always secure. Identity theft is running rampant, and banks are by no means immune. And once your information is compromised, it can take months or even years to correct the damage, not to mention possibly costing you thousands of dollars, as well. Some online banks are more stable than others. Not all online setups are an extension of a brick-and-mortar bank. Some operate completely in cyberspace, without the benefit of an branch that you can actually visit if need be. With no way to physically check out the operation, you must be sure to thoroughly do your homework about the banks background before giving them any of your money Learning curve: Customer service can be below the quality that youre used to. Some people simply take comfort in being able to talk to another human being face-to-face if they experience a problem. Although most major banks employ a dedicated customer service department specifically for online users, going through the dreaded telephone menu can still be quite irritating to many. Again, some are considerably better (or worse) than others. Slow processing: From the moment you entered a financial transaction with your bank via the computer.   Usually the bank will require you to submit certain documents like an identification card, signature and the like.   Not only will the bank online require you to submit documents but also to provide special power of attorney in cases where you want to do transactions together with your spouse.   A concrete example is when you want to manage all your wealth and resources together as a couple and you wish to view it online.   Certain technical procedures regarding online banking may be taxing too and complicated. As a result, not all online transactions are immediate. Online banking is subject to the same business-day parameters as traditional banking. Therefore, printing out and keeping receipts is still very important, even when banking online. The Impact of MayBank Online Banking: The Online Banking services in Maybank have profound changes during the last decade. The most obvious change has been the large number of bank mergers, which have increased both the average size of banks and the area over which they operate. Other changes may also prove dramatic but are at this point just getting under way the growth of Internet banking and the combination of banking with other financial services, such as insurance and securities underwriting. The implications of these changes for the profitability and safety of banks have been widely discussed, but what do they mean for local economies? Some analysts argue that the changes will benefit most communities by increasing the publics access to financial services and making it easier for banks to continue lending during regional economic downturns. Others argue that the changes will end up hurting many communities, especially smaller ones, because the large organizations created by mergers will be uninterested in serving small customers and will siphon off funds from smaller markets to lend in big cities. To shed light on the debate, this article focuses on the two groups that are most likely to be affected by the transformation of banking. Consumers and small businesses. Before the recent changes, surveys consistently found that these two groups relied heavily on local banks for their credit and payments needs. It stands to reason, therefore, that they would also be the groups most affected by any changes in local banking practices resulting from consolidation, Internet banking, or financial integration. A further reason for focusing on small businesses is that these enterprises play an especially important role in the economic performance of smaller communities the communities where there has been the greatest concern about the possible adverse effects of the transformation in banking. The article concludes that the recent changes in banking are likely to benefit consumers and small businesses in most communities, as long as they remain free to choose between small and large banks for their banking services. The first section of the article reviews the three major Changes in the banking system consolidation, Internet banking, and financial integration. The next two sections argue that these changes are likely to benefit both consumers and small businesses, provided small banks are available to fill any gaps in service or credit to smaller customers. The last section concludes that small banks face a major but not insurmountable obstacle in continuing to fill this role-the increased difficulty of obtaining funds. THE IMPACT OF THE ONLINE BANKING ON CONSUMERS: Consumers have traditionally relied on nearby banks and branches for many of their banking services. The transformation of online banking in Maybank now under way will hurt consumers by raising the price or reducing the quality of these services. Or the changes benefit consumers by expanding the array of services will offered by banks and allowing consumers to go outside the local market for banking services. It was once thought that the main benefit to consumers of online banking would be lower fees for banking services or higher rates on deposits. According to this view, the cost to banks of online transactions would be much lower than the cost of traditional transactions through a normal branch. As a result, consumers would be charged lower fees or Paid higher deposit rates if they banked online instead of going to a branch office. Proponents of this view pointed to the example of online brokers, who charge investors much less for trading stocks than either discount brokers or traditional full-commission brokers (Marks). THE IMPACT OF ONLINE BANKING ON SMALL BUSSINESS: Like consumers, small businesses have traditionally obtained most of their banking services from nearby banks and branches. Will the transformation of banking hurt small businesses by shifting ownership of these banking offices to large, distant organizations uninterested in dealing with small customers? Or will it help small businesses by making banking and other financial services cheaper and more convenient. As noted earlier, mergers have significantly increased the share of banking resources controlled by large, widely dispersed organizations. Some observers worry that this change in the banking system will end up reducing the total supply of credit to small businesses. These observers acknowledge that some of the businesses that are denied credit as a result of bank mergers may be bad risks that should not have received loans in the first place. They argue, however, that mergers will also reduce the supply of credit to many good risks, hurting the local economy. As in the case of consumers, the main benefit of online banking in Maybank to small businesses is likely to be greater convenience. For several years, large businesses have enjoyed electronic access to their banks through private computer networks. Internet banking in Maybank is now extending that access to smaller businesses. Some bank web sites allow small business customers to view their balances in real time, transfer money between accounts, and originate wire transfers. A smaller number of bank web sites also offer cash management services and payroll services. Industry observers predict that more banks will offer such services over time because small businesses are among their most profitable customers. Large banks have shown particular interest in this area, apparently viewing online banking as a way to lure small business customers away from smaller banks Internet and World Wide Web Maybank File Transfer and the Internet: The internet is a worldwide collection of networks that connects millions of computers and it plays the main role in Maybank transaction system especially online banking, because all the transaction is done by Internet and without the internet there is no online banking. Maybank has become very popular in a world of electronic debits and transfers and other banking activity that, until recently, you would have to have made a trip to the bank to do. All aspects of modern society has benefited from online banking because of the convenience that the internet offers. Internet banks have to make themselves attractive to potential customers. They do this by offering high-yield checking accounts. Internet banks have the comfort of doing so because they do not have the same overhead cost as normal banks. Internet banks are much cheaper to operate than traditional banks, so Internet banks can pass the savings on to their customers. Once they have secured your business, Internet banks offer yo u other services. You will be able to complete your checking, savings, credit cards, mortgages, investments, bill payments and much more from the comfort of your own living room. Maybank has developed a product package designed to provide simple and secure file exchange between the bank and its customers through any of three (3) delivery channels: Web, Desktop Connection or Secure FTP. But in todays networked world of the internet, the browser and e-mail are the ubiquitous software tools used for information exchange. These tools do not adequately support secure file transfer of anything but small files while the ability to track and audit file movement is limited. With M-Secure File Transfer OBS, banks can transmit and receive data automatically without scripts or manual intervention using the web, OBS Desktop Connection Client or Secure FTP. Online Messenger will regularly check for files to be delivered to clients or sent to the bank from designated folders on the customers PC. Customers only have to place a file in the designated send folder and the file will be automatically transmitted to the bank. No complicated FTP processes, no modems, no scripts. Da ta Delivery is secure, using a strong encryption algorithm blowfish with a 448-bit key. Each user has a unique User ID and Password that must be changed every 30 days. E-Commerce E-commerce is business transaction that occurs over the internet and online banking system in Maybank makes it easier, for instance, all these business and transactions can be done and paid at home if you use Maybank online banking. Without the online banking, e-commerce would be difficult and we will have to do these businesses by ourselves because once you want to buy something from the internet youll have to transfer the money and that means going to the bank and do all the transactions and that costs us time, effort and money. Communications: One type of internet banking that Maybank has is Communicative and this type of Internet banking system allows some interaction between the banks systems and the customer. The interaction may be limited to electronic mail, account inquiry, loan applications, or static file updates (name and address changes). Because these servers may have a path to the banks internal networks, the risk is higher with this configuration than with informational systems. Recommendations: Here are some recommendations for Maybank in order to achieve a better online banking: Probably the first thing to think about with online banking would be the convenience. I suggest for Maybank to give us the access to the online banking anytime of the day by improving their online system, because sometimes I have to transfer money for emergency but when I try to access my online banking I found it suspended and thats causes a lot of troubles. Compare the online banking services in Maybank with other banks in order to offer the best services to the customers. Train all the employees on questions customers will ask about online banking in order to make them get a clear idea about it, because some people till now are still afraid of online banking and dont use it. I also suggest for Maybank to make advertisements about this point. As a conclusion, online banking is a part of Internet and all the transactions system occurs by the internet. Like the internet, online banking has his own services and those services such as transfer money which cant be done without the internet and thats one the common things between them. I suggest for Maybank to improve the convenience system and train all the employees to make people get a clear idea about online banking. Security Issues Similarities/ Secure Websites: A secure website is a website using encryption and authentication standards to protect the confidentiality of web transactions. Digital certificates: Digital certificate is a form of electronic credentials for the Internet. Digital certificate is issued by a trusted third party to establish the identity of the ID holder. The third party who issues certificates is known as a Certification Authority (CA). Secure Sockets Layer (SSL) protocol from Verisign Certificate Authority. SSL is a secure way of transferring information between two computers on the Internet using encryption. Strong end to end encryption is also adopted within the banks computer networks and resources. To ensure data confidentiality and integrity, all information transmitted over the Internet is encrypted using the 128-bit (maybank2u.com.my, 2010). Maybank2u.com is WebTrust certified. This certifies our compliance with leading international security standards and Best Practices, as well as our commitment to maintaining a secure environment. WebTrust is an independent corporation that monitors and tests our facilities to assure that we maintain the highest and most current standards in Internet information security and exchange (maybank2u.com.my, 2010). As mentioned on (info.ssl.com, 2006) There are two ways to make sure that Maybank2u.com.my is a secure website: 1) Check the web page URL Normally, when browsing the web, the URLs (web page addresses) begin with the letters http.   However, over a secure connection the address displayed should begin with https note the s at the end. 2) Check for the Lock icon There is a de facto standard among web browsers to display a lock icon somewhere in the window of the browser (NOT in the web page display area!)   For example, Microsoft Internet Explorer displays the lock icon in the lower-right of the browser window: As another example, Mozillas FireFox Web Browser displays the lock icon in the lower-left corner. -Backup: Making copies of data so that these additional copies may be used to restore the original after a data loss event. Backup procedure A backup procedure represents the way you back up your files.   Any backup procedure starts with a concept of a data repository. The backup data needs to be stored and organized. Therefore, its important to establish your backup procedure before choosing the backup solution that is right for you. Different backup procedure has different advantages. Maybank has its own backup procedure performing as follow: Day of Week Weekly Full Backup with Daily Differential Backup Weekly Full Backup with Daily Incremental Backup Sunday A full backup is performed. A full backup is performed. Monday A differential backup contains all changes since Sunday. An incremental backup contains changes since Sunday. Tuesday A differential backup contains all changes since Sunday. An incremental backup contains changes since Monday. Wednesday A differential backup contains all changes since Sunday. An incremental backup contains changes since Tuesday. Thursday A differential backup contains all changes since Sunday. An incremental backup contains changes since Wednesday. Friday A differential backup contains all changes since Sunday. An incremental backup contains changes since Thursday. Saturday A differential backup contains all changes since Sunday. An incremental backup contains changes since Friday. Differences/ -Sensitive username and Password to access bank account online To prevent unauthorised access to our online financial services, every customer is required to select a username and an alphanumeric password, which provides access to their financial information. The username must be between 6 to 16 characters and the alphanumeric password between 8 to 12 characters. The password must include both alphabets and numbers but you may also use special characters (e.g. * $) except spaces (maybank2u.com.my, 2010). -Phishing: Phishing is a high-tech scam that uses spam or pop-up messages to attempt to deceive you into disclosing your credit card numbers, bank account information, Social Security number, passwords, and / other sensitive information.Phishing is the term coined by hackers who imitate legitimate companies in e-mails to entice people to share passwords or credit card numbers. Report on phishing: Maybank made a hotline which you can contact and report about phishing and avoid being a victim of it. To protect yourself from being a victim of email or SMS Phisihng! If you receive suspicious messages, contact immediately at 03-5891 4744. Real-Time-Systems My bank technology system is functional now, but as a feasibility demonstration, not a supported product. Its ability to transfer funds between its internal micro acounts and external accounts via the Automated Clearing House is turned off. The name, my bank, is a place holder for an eventual company name. Many online banking customers reuse their banking login credentials to access other websites, putting themselves at risk of account hijacking and online banking fraud, according to a study by Trusteer Inc. MY BANK-based online security vendor found that 73% of bank customers use their Internet banking password to access non-financial and less secure websites. Forty-seven percent use both their online banking user ID and password on other websites. The practice puts online banking customers at risk because criminals are using a variety of methods including database hacks, brute forcing and phishing to harvest login credentials from non-financial websites, such as social networking sites and Web-based email services, according to Trusteer. Thieves can then test the credentials on financial-services sites to hijack accounts and commit online banking fraud. Money Trouble in MY BANK A series of upsets could spell trouble for my banks virtual economy Theres a long line of avatars waiting to use the automatic-teller machines for Ginko Financial, a virtual bank in the online game Second Life. For more than a week, account holders have been demanding their money back in what some folks are calling a bank run. Set off by high interest rates and a recent ban on in-game gambling, the bank run could ultimately have a major effect on the games economy. The theft of approximately $12,000 from the My bank World Stock Exchange doesnt help matters either. My bank, is an online world where players can buy and sell all kinds of goods and services. The games economy is based on fictional currency, called Linden dollars. But those dollars do have real-world value: players can buy or sell Linden dollars at a rate of about L$270 to $1 on the Lindex market. My banks website even boasts that thousands of residents are making part or all of their real life income from their My bank businesses. Now the entire My bank economywhich could affect more than 8.5 million playersis in trouble. Although financial institutions in My bank are careful to define themselves as games, some My bank banks offer more than 100 percent annual interesta tempting rate when combined with the possibility of turning Lindens into U.S. dollars via the Lindex. Right along with the promise of turning virtual currency into real-life riches are problems with how some Second Life financial institutions are run, says Robert Bloomfield, an economist at Cornell University who makes a serious hobby of studying My banks economy. The average person who goes to a [real-world] bank isnt aware that theres a large regulatory body keeping track of the reserves the bank has, he says. But banks in Second Life, which Bloomfield compares with the Wild West, are mysterious and unregulated. Ginko Financials CEO, Andre Sanchez, of Sao Paolo, Brazil, has refused to release records of Ginkos investments or financial history, and he has not revealed a clear plan for returning peoples money NOW THER IS 3 Reasons Not to Use Online Bank Accounts * Customer Service with Online Bank Accounts One reason to avoid online banks is that you may run into bad customer service. With a brick-and-mortar bank, youll likely have some familiarity with the staff. At a small credit union, the staff might know you well. Why does this matter? Its easier to get good service if you know the staff and they know you. You can pick and choose who you deal with. However, if your online bank account offers any phone service, you have to take your chances with the 1-800 Lottery. You might get somebody helpful and knowledgeable, or you might not. * Online Bank Accounts and Speed of Clearing The internet is supposed to make things faster. However, you might have to wait a long time for checks to clear. You certainly cant ask for a cashiers check if youre in the middle of a crisis and you need settled money yesterday. Likewise, deposits to your online